Annual report pursuant to Section 13 and 15(d)

DISCONTINUED OPERATIONS

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DISCONTINUED OPERATIONS
 12 Months Ended
Dec. 31, 2023
Discontinued Operations and Disposal Groups [Abstract]  
DISCONTINUED OPERATIONS DISCONTINUED OPERATIONS
As of December 31, 2023, the Company completed the sale of the entire Office Portfolio except for one waterfront office property. As the sale of the Office Portfolio represented a strategic shift in the Company’s operations, the results of these properties that were disposed of or classified as held for sale are being 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, 2023, 2022 and 2021 (dollars in thousands):
Year Ended December 31,
2023 2022 2021
Total Revenues $ 21,085  $ 127,541 $ 163,284
Operating and other (expenses) income, net (12,437) (63,157) (83,557)
Property impairments —  (94,811) (13,467)
Depreciation and amortization (5,486) (26,974) (44,086)
Loss from extinguishment of debt, net (12) (7,303) — 
Income (Loss) from discontinued operations 3,150  (64,704) 22,174 
Gain on disposition of developable land 39,271  —  — 
Gain on sale of unconsolidated joint venture interests —  7,677 —
Realized gains (losses) and unrealized gains (losses) on disposition of rental property, net 2,411  61,676 25,552
Realized gains (losses) and unrealized gains (losses) on disposition of rental property and impairments, net 41,682  69,353  25,552 
Total discontinued operations, net $ 44,832  $ 4,649  $ 47,726