Segment Information

9 Months Ended

Sep. 30, 2021

Segment Reporting [Abstract]

Segment Information

Segment Information

The following tables summarize the rental and other revenues and net operating income, the primary industry property-level performance metric used by our chief operating decision maker and which is defined as rental and other revenues less rental property and other expenses, for each of our reportable segments.

	Three Months Ended September 30,				Nine Months Ended September 30,
	2021		2020		2021		2020
Rental and Other Revenues:
Office:
Atlanta	$	36,672	$	36,022	$	108,385	$	110,518
Charlotte	14,313		8,858		32,364		26,801
Nashville	36,136		34,661		106,873		103,780
Orlando	12,852		11,518		38,141		36,844
Pittsburgh	14,220		14,430		42,787		44,054
Raleigh	42,471		32,037		117,168		95,792
Richmond	12,050		11,878		35,263		35,972
Tampa	23,856		24,575		74,166		75,177
Total Office Segment	192,570		173,979		555,147		528,938
Other	2,925		7,064		9,655		28,058
Total Rental and Other Revenues	$	195,495	$	181,043	$	564,802	$	556,996

Net Operating Income:
Office:
Atlanta	$	24,157	$	23,303	$	71,779	$	72,387
Charlotte	11,159		6,973		25,446		21,298
Nashville	27,355		25,022		78,172		74,907
Orlando	7,920		6,505		23,414		22,260
Pittsburgh	8,291		8,934		25,591		26,954
Raleigh	31,425		24,037		88,005		71,670
Richmond	7,805		8,204		24,092		25,403
Tampa	15,143		16,829		49,640		51,025
Total Office Segment	133,255		119,807		386,139		365,904
Other	1,673		4,344		5,681		16,879
Total Net Operating Income	134,928		124,151		391,820		382,783
Reconciliation to net income:
Depreciation and amortization	(66,547)		(60,303)		(189,423)		(180,914)
Impairments of real estate assets	—		—		—		(1,778)
General and administrative expenses	(10,350)		(9,155)		(30,409)		(30,169)
Interest expense	(21,986)		(19,886)		(60,755)		(61,003)
Other income/(loss)	424		(3,311)		1,068		(2,654)
Gains on disposition of property	38,572		10,012		80,371		163,397
Equity in earnings of unconsolidated affiliates	546		823		1,614		2,965
Net income	$	75,587	$	42,331	$	194,286	$	272,627

	September 30, 2021		December 31, 2020
Total Assets:
Office:
Atlanta	$	999,319	$	1,011,807
Charlotte	775,852		443,051
Nashville	1,264,025		1,191,219
Orlando	284,361		289,129
Pittsburgh	312,304		313,783
Raleigh	1,276,356		839,831
Richmond	211,263		240,976
Tampa	533,400		556,951
Total Office Segment	5,656,880		4,886,747
Other	97,192		322,670
Total Assets	$	5,754,072	$	5,209,417