SEGMENT DISCLOSURE (Tables)

12 Months Ended

Dec. 31, 2015

SEGMENT DISCLOSURE

Schedule of net operating income of reportable segments

	Year Ended December 31,
	2015		2014		2013
	(in thousands)
Office:
Revenues	$	188,270	$	179,338	$	175,144
Property expenses:
Operating		80,014		73,666		67,906
General and administrative		771		981		1,078
Total property expenses		80,785		74,647		68,984
Segment net operating income—office		107,485		104,691		106,160
Hotel:
Revenues		61,436		56,096		40,680
Property expenses:
Operating		41,585		39,544		28,825
General and administrative		389		150		250
Total property expenses		41,974		39,694		29,075
Segment net operating income—hotel		19,462		16,402		11,605
Multifamily:
Revenues		18,721		20,719		19,989
Property expenses:
Operating		11,579		13,664		8,432
General and administrative		589		738		114
Total property expenses		12,168		14,402		8,546
Segment net operating income—multifamily		6,553		6,317		11,443
Total segment net operating income	$	133,500	$	127,410	$	129,208

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

	Year Ended December 31,
	2015		2014		2013
	(in thousands)
Total segment net operating income	$	133,500	$	127,410	$	129,208
Interest		(22,785)		(19,073)		(17,929)
General and administrative		(6,621)		(5,463)		(1,126)
Asset management and other fees to related parties		(29,319)		(25,222)		(21,767)
Transaction costs		(1,382)		(1,563)		(5,063)
Depreciation and amortization		(72,361)		(69,047)		(68,644)
Bargain purchase gain		—		4,918		—
Gain on sale of real estate		3,092		—		—
Income from continuing operations		4,124		11,960		14,679
Discontinued operations
Income from operations of assets held for sale		15,128		12,638		—
Gain on disposition of assets held for sale		5,151		—		—
Net income from discontinued operations		20,279		12,638		—
Net income		24,403		24,598		14,679
Net income attributable to noncontrolling interests		(11)		(220)		(213)
Net income attributable to stockholders	$	24,392	$	24,378	$	14,466

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

	December 31,
	2015		2014
	(in thousands)
Condensed assets:
Office	$	1,520,780	$	1,534,610
Hotel		176,735		174,679
Multifamily		171,885		171,226
Lending assets held for sale		128,992		208,799
Non-segment assets		99,781		5,368
Total assets	$	2,098,173	$	2,094,682

	Year Ended December 31,
	2015		2014		2013
	(in thousands)
Capital expenditures(1):
Office	$	27,686	$	26,157	$	20,523
Hotel		1,158		1,481		2,015
Multifamily		2,498		1,241		1,982
Total capital expenditures		31,342		28,879		24,520
Loan originations included in assets held for sale		59,467		50,971		—
Total capital expenditures and loan originations	$	90,809	$	79,850	$	24,520

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