SEGMENT INFORMATION

We have three reportable segments: office, multifamily and retail. Office properties provide office space for various types of businesses and professions. Multifamily properties provide rental housing for individuals and families throughout the greater Washington metro region. Retail properties are typically grocery store-anchored neighborhood centers that include other small shop tenants or regional power centers with several junior box tenants.

We evaluate performance based upon net operating income from the combined properties in each segment. Our reportable operating segments are consolidations of similar properties. GAAP requires that segment disclosures present the measure(s) used by the chief operating decision maker for purposes of assessing each segment’s performance. Net operating income is a key measurement of our segment profit and loss. Net operating income is defined as real estate rental revenue less real estate expenses.

The following tables present revenues, net operating income, capital expenditures and total assets for the three months ended March 31, 2019 and 2018 from these segments, and reconcile net operating income of reportable segments to net (loss) income attributable to the controlling interests as reported (in thousands):



	Three Months Ended March 31, 2019
	Office		Retail		Multifamily		Corporate and Other		Consolidated
Real estate rental revenue	$	42,293	$	16,546	$	24,335	$	—	$	83,174
Real estate expenses	15,224		4,516		9,470		—		29,210
Net operating income	$	27,069	$	12,030	$	14,865	$	—	$	53,964
Depreciation and amortization									(29,547		)
General and administrative expenses									(7,429		)
Lease origination expenses									(378		)
Interest expense									(12,641		)
Real estate impairment									(8,374		)
Net loss									(4,405		)
Less: Net income attributable to noncontrolling interests in subsidiaries									—
Net loss attributable to the controlling interests									$	(4,405	)
Capital expenditures	$	4,923	$	555	$	1,803	$	67	$	7,348
Total assets	$	1,238,795	$	336,229	$	796,525	$	36,918	$	2,408,467



	Three Months Ended March 31, 2018
	Office		Retail		Multifamily		Corporate and Other		Consolidated
Real estate rental revenue	$	45,547	$	15,671	$	23,663	$	—	$	84,881
Real estate expenses	16,302		4,160		9,439		—		29,901
Net operating income	$	29,245	$	11,511	$	14,224	$	—	$	54,980
Depreciation and amortization									(29,969		)
General and administrative expenses									(5,821		)
Interest expense									(12,827		)
Real estate impairment									(1,886		)
Loss on extinguishment of debt									(1,178		)
Net income									3,299
Less: Net income attributable to noncontrolling interests in subsidiaries									—
Net income attributable to the controlling interests									$	3,299
Capital expenditures	$	4,945	$	475	$	2,425	$	172	$	8,017
Total assets	$	1,361,880	$	344,904	$	769,643	$	41,868	$	2,518,295