Reportable Segments (Tables)

6 Months Ended

Jun. 30, 2020

Reconciliation of Revenue from Segments to Consolidated

Information on the Company's segments along with a reconciliation of NOI to net income for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands):


Three Months Ended June 30, 2020	Office		Mixed-Use		Total
Revenues:
Atlanta	$	62,457	$	129	$	62,586
Austin	52,455		—		52,455

Charlotte	20,505		—		20,505
Dallas	4,487		—		4,487
Phoenix	12,084		—		12,084
Tampa	12,912		—		12,912
Other	15,043		1,176		16,219
Total segment revenues	179,943		1,305		181,248
Less: Company's share of rental property revenues from unconsolidated joint ventures	(4,844)		(1,305)		(6,149)
Total rental property revenues	$	175,099	$	—	$	175,099


Three Months Ended June 30, 2019	Office		Mixed-Use		Total
Revenues:
Atlanta	$	59,499	$	—	$	59,499
Austin	31,815		—		31,815
Charlotte	27,110		—		27,110
Dallas	804		—		804
Phoenix	12,805		—		12,805
Tampa	13,471		—		13,471
Other	3,581		1,093		4,674
Total segment revenues	149,085		1,093		150,178
Less: Company's share of rental property revenues from unconsolidated joint ventures	(14,152)		(1,093)		(15,245)
Total rental property revenues	$	134,933	$	—	$	134,933


Six Months Ended June 30, 2020	Office		Mixed-Use		Total
Revenues
Atlanta	$	128,334	$	165	$	128,499
Austin	101,202		—		101,202

Charlotte	55,041		—		55,041
Dallas	8,958		—		8,958
Phoenix	25,243		—		25,243
Tampa	27,024		—		27,024
Other	31,538		2,438		33,976
Total segment revenues	377,340		2,603		379,943
Less: Company's share of rental property revenues from unconsolidated joint ventures	(13,112)		(2,603)		(15,715)
Total rental property revenues	$	364,228	$	—	$	364,228


Six Months Ended June 30, 2019	Office		Mixed-Use		Total
Revenues:
Atlanta	$	116,969	$	—	$	116,969
Austin	59,907		—		59,907
Charlotte	50,496		—		50,496
Dallas	804				804
Phoenix	25,808		—		25,808
Tampa	26,441		—		26,441
Other	4,126		2,277		6,403
Total segment revenues	284,551		2,277		286,828
Less: Company's share of rental property revenues from unconsolidated joint ventures	(25,753)		(2,277)		(28,030)
Total rental property revenues	$	258,798	$	—	$	258,798

Reconciliation of NOI to Net Income Available to Common Stockholders

NOI by reportable segment for the three and six months ended June 30, 2020 and 2019 are as follows (in thousands):


Three Months Ended June 30, 2020	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	41,709	$	(13)	$	41,696
Austin	31,229		—		31,229

Charlotte	14,480		—		14,480
Dallas	3,580		—		3,580
Phoenix	8,922		—		8,922
Tampa	7,998		—		7,998
Other	8,397		830		9,227
Total Net Operating Income	$	116,315	$	817	$	117,132


Three Months Ended June 30, 2019	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	39,368	$	—	$	39,368
Austin	18,577		—		18,577
Charlotte	18,050		—		18,050
Dallas	669		—		669
Phoenix	9,290		—		9,290
Tampa	8,573		—		8,573
Other	2,182		708		2,890
Total Net Operating Income	$	96,709	$	708	$	97,417


Six Months Ended June 30, 2020	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	86,564	$	(73)	$	86,491
Austin	60,523		—		60,523

Charlotte	36,593		—		36,593
Dallas	7,219		—		7,219
Phoenix	18,715		—		18,715
Tampa	16,142		—		16,142
Other	$	17,525	$	1,706	$	19,231
Total Net Operating Income	$	243,281	$	1,633	$	244,914


Six Months Ended June 30, 2019	Office		Mixed-Use		Total
Net Operating Income:
Atlanta	$	76,766	$	—	$	76,766
Austin	34,525		—		34,525

Charlotte	33,859		—		33,859
Dallas	670		—		670
Phoenix	18,781		—		18,781
Tampa	16,560		—		16,560
Other	2,411		1,576		3,987
Total Net Operating Income	$	183,572	$	1,576	$	185,148

The following reconciles Net Operating Income to net income (loss) for each of the periods presented (in thousands):


	Three Months Ended June 30,						Six Months Ended June 30,
	2020		2019		2020		2019
Net Operating Income	$	117,132	$	97,417	$	244,914	$	185,148
Net operating income from unconsolidated joint ventures	(4,193)		(9,379)		(10,228)		(17,252)
Fee income	4,690		7,076		9,422		15,804
Termination fee income	539		190		3,383		710
Other income	126		11		163		151
Reimbursed expenses	(322)		(1,047)		(843)		(1,979)
General and administrative expenses	(8,543)		(8,374)		(14,195)		(19,834)
Interest expense	(13,993)		(12,059)		(29,897)		(22,879)
Depreciation and amortization	(72,868)		(50,904)		(144,482)		(96,765)
Transaction costs	(63)		(49,827)		(428)		(49,830)
Other expenses	(552)		(624)		(1,118)		(804)
Income from unconsolidated joint ventures	1,715		3,634		5,140		6,538
Gain (loss) on sales of investments in unconsolidated joint ventures	(231)		—		45,999		—
Gain (loss) on investment property transactions	(201)		1,304		90,715		14,415

Net income (loss)	$	23,236	$	(22,582)	$	198,545	$	13,423