v3.25.4
Consolidated Statements of Operations - USD ($)
shares in Thousands, $ in Thousands
 12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Revenues:      
Rental revenue $ 626,213 $ 614,596 $ 597,319
Observatory revenue 128,329 136,377 129,366
Lease termination fees 464 4,771 0
Third-party management and other fees 1,483 1,170 1,351
Other revenue and fees 11,781 11,009 11,536
Total revenues 768,270 767,923 739,572
Operating expenses:      
Property operating expenses 184,714 179,175 167,324
Ground rent expenses 9,326 9,326 9,326
General and administrative expenses 72,842 70,234 63,939
Observatory expenses 38,237 36,834 35,265
Real estate taxes 132,740 128,826 127,101
Depreciation and amortization 194,762 184,818 189,911
Total operating expenses 632,621 609,213 592,866
Total operating income 135,649 158,710 146,706
Other income (expense):      
Interest income 8,748 21,298 15,136
Interest expense (103,133) (105,239) (101,484)
Interest expense associated with property in receivership (647) (4,471) 0
Loss on early extinguishment of debt (97) (553) 0
Gain on disposition of properties 35,018 13,302 26,764
Income before income taxes 75,538 83,047 87,122
Income tax expense (2,558) (2,688) (2,715)
Net income 72,980 80,359 84,407
Private perpetual preferred unit distributions (4,201) (4,201) (4,201)
Net income attributable to non-controlling interest in other partnerships 0 (4) (68)
Net income attributable to common unitholders $ 68,779 $ 76,154 $ 80,138
Total weighted average units:      
Basic (in shares) 266,939 264,706 263,226
Diluted (in shares) 270,040 269,019 265,633
Earnings per unit:      
Basic (in USD per share) $ 0.26 $ 0.29 $ 0.30
Diluted (in USD per share) $ 0.25 $ 0.28 $ 0.30