SEGMENT DISCLOSURE (Tables)

6 Months Ended

Jun. 30, 2016

SEGMENT DISCLOSURE

Schedule of net operating income of reportable segments

	Three Months Ended June 30,				Six Months Ended June 30,
	2016		2015		2016		2015
	(in thousands)
Office:
Revenues	$	45,770	$	47,084	$	91,819	$	93,699
Property expenses:
Operating		19,930		20,060		38,417		39,451
General and administrative		91		113		445		426
Total property expenses		20,021		20,173		38,862		39,877
Segment net operating income—office		25,749		26,911		52,957		53,822
Hotel:
Revenues		14,496		15,822		29,779		31,541
Property expenses:
Operating		9,431		9,987		19,386		20,664
General and administrative		306		38		393		79
Total property expenses		9,737		10,025		19,779		20,743
Segment net operating income—hotel		4,759		5,797		10,000		10,798
Multifamily:
Revenues		5,172		4,013		10,230		8,918
Property expenses:
Operating		2,938		2,938		5,774		5,579
General and administrative		97		90		355		173
Total property expenses		3,035		3,028		6,129		5,752
Segment net operating income—multifamily		2,137		985		4,101		3,166
Total segment net operating income	$	32,645	$	33,693	$	67,058	$	67,786

Schedule of reconciliation of segment net operating income to net income attributable to stockholders

	Three Months Ended June 30,						Six Months Ended June 30,
	2016			2015			2016			2015
	(in thousands)
Total segment net operating income	$	32,645		$	33,693		$	67,058		$	67,786
Asset management and other fees to related parties		(7,492	)		(7,456	)		(15,193	)		(14,665	)
Interest expense		(7,302	)		(5,586	)		(13,928	)		(10,989	)
General and administrative		(1,218	)		(1,714	)		(2,282	)		(3,869	)
Transaction costs		(118	)		(373	)		(267	)		(801	)
Depreciation and amortization		(18,480	)		(17,566	)		(36,538	)		(36,694	)
Gain on sale of real estate		—			—			24,739			—
Income (loss) from continuing operations		(1,965	)		998			23,589			768
Discontinued operations
Income from operations of assets held for sale		2,823			3,984			4,252			6,946
Net income from discontinued operations		2,823			3,984			4,252			6,946
Net income		858			4,982			27,841			7,714
Net income attributable to noncontrolling interests		(9	)		(6	)		(12	)		(6	)
Net income attributable to stockholders	$	849		$	4,976		$	27,829		$	7,708

Schedule of reconciliation of condensed assets of segments to consolidated total assets

	June 30, 2016		December 31, 2015
	(in thousands)
Condensed assets:
Office	$	1,553,454	$	1,520,339
Hotel(1)		154,162		176,735
Multifamily		168,426		171,429
Lending assets held for sale		138,409		128,992
Non-segment assets		136,646		94,565
Total assets	$	2,151,097	$	2,092,060

(1)           Includes the assets of LAX Holiday Inn that were held for sale at June 30, 2016 (see Note 3).

Schedule of capital expenditures and loan originations

	Six Months Ended June 30,
	2016		2015
	(in thousands)
Capital expenditures(2):
Office	$	18,839	$	14,200
Hotel		336		738
Multifamily		241		882
Total capital expenditures		19,416		15,820
Loan originations included in assets held for sale		49,976		41,121
Total capital expenditures and loan originations	$	69,392	$	56,941

(2)           Represents additions and improvements to real estate investments, excluding acquisitions.