Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS

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DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2024
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
The Company's sale of its former Office Portfolio represented a strategic shift in the Company’s operations. As such, the results of these sold properties are classified as discontinued operations for all periods presented.
The following table summarizes income (loss) from discontinued operations and the related realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net, for the years ended December 31, 2024, 2023 and 2022 (dollars in thousands):
Year Ended December 31,
2024 2023 2022
Total revenues $ 2,255  $ 40,649 $ 147,634
Operating and other (expenses) income, net (758) (27,967) (75,869)
Property impairments —  (32,516) (94,811)
Depreciation and amortization (635) (12,840) (34,505)
Gain (loss) from extinguishment of debt, net —  (12) (7,303)
Income (loss) from discontinued operations 862  (32,686) (64,854)
Gain (loss) on disposition of developable land 1,899  39,271  — 
Gain (loss) on sale of unconsolidated joint venture interests —  — 7,677
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 1,548  2,411 61,676
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 3,447  41,682  69,353 
Total discontinued operations, net $ 4,309  $ 8,996  $ 4,499