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In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint ventur... | text | 782.7 | monetaryItemType | text: <entity> 782.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related... | us-gaap:RevenueNotFromContractWithCustomer |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint ventur... | text | 682.7 | monetaryItemType | text: <entity> 682.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related... | us-gaap:RevenueNotFromContractWithCustomer |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint ventur... | text | 115.9 | monetaryItemType | text: <entity> 115.9 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related... | us-gaap:AccountsReceivableGross |
In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related to our former equity method investment in Nabors Arabia. During 2017, our joint ventur... | text | 92.7 | monetaryItemType | text: <entity> 92.7 </entity> <entity type> monetaryItemType </entity type> <context> In the ordinary course of business, we enter into various rig leases, rig transportation and related oilfield services agreements with our unconsolidated affiliates at market prices. Historically, these transactions primarily related ... | us-gaap:AccountsReceivableGross |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including i... | text | 7.9 | monetaryItemType | text: <entity> 7.9 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some ... | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including i... | text | 13.2 | monetaryItemType | text: <entity> 13.2 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some... | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including i... | text | 11.4 | monetaryItemType | text: <entity> 11.4 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some... | us-gaap:OperatingCostsAndExpenses |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including i... | text | 1.8 | monetaryItemType | text: <entity> 1.8 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some ... | us-gaap:AccountsPayableCurrentAndNoncurrent |
In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some of which have provided services to us in the ordinary course of business, including i... | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> In addition, Mr. Crane, one of our independent directors, is Chairman and Chief Executive Officer of Crane Capital Group Inc. (“CCG”), an investment company that indirectly owns a majority interest in several operating companies, some ... | us-gaap:AccountsPayableCurrentAndNoncurrent |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. ... | text | 15.7 | monetaryItemType | text: <entity> 15.7 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million a... | us-gaap:OperatingLeaseExpense |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. ... | text | 17.2 | monetaryItemType | text: <entity> 17.2 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million a... | us-gaap:OperatingLeaseExpense |
Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million and $ 15.0 million for the years ended December 31, 2024, 2023 and 2022, respectively. ... | text | 15.0 | monetaryItemType | text: <entity> 15.0 </entity> <entity type> monetaryItemType </entity type> <context> Nabors and its subsidiaries occupy various facilities and lease certain equipment under various lease agreements. Rental expense relating to operating leases with terms greater than 30 days amounted to $ 15.7 million, $ 17.2 million a... | us-gaap:OperatingLeaseExpense |
In March 2011, the Court of Ouargla entered a judgment of approximately $ 20.8 million (at December 31, 2024 exchange rates) against us relating to alleged violations of Algeria’s foreign currency exchange controls, which require that goods and services provided locally be invoiced and paid in local currency. The case ... | text | 20.8 | monetaryItemType | text: <entity> 20.8 </entity> <entity type> monetaryItemType </entity type> <context> In March 2011, the Court of Ouargla entered a judgment of approximately $ 20.8 million (at December 31, 2024 exchange rates) against us relating to alleged violations of Algeria’s foreign currency exchange controls, which require that... | us-gaap:LitigationSettlementAmountAwardedToOtherParty |
Diluted earnings (losses) per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options and unvested restricted shares and the if-converted method for the 1.75 % senior exchangeable notes due June 2029 as th... | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> Diluted earnings (losses) per share is computed using the weighted-average number of common and common equivalent shares outstanding during the periods utilizing the two-class method for stock options and unvested restricted shares and... | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Additionally for the years ended December 31, 2024 and 2023, we excluded 1.2 million common shares from the computation of diluted shares related to the conversion of the 1.75 % senior exchangeable notes due June 2029, because their effect would be anti-dilutive under the if-converted method, respectively. | text | 1.75 | percentItemType | text: <entity> 1.75 </entity> <entity type> percentItemType </entity type> <context> Additionally for the years ended December 31, 2024 and 2023, we excluded 1.2 million common shares from the computation of diluted shares related to the conversion of the 1.75 % senior exchangeable notes due June 2029, because their ef... | us-gaap:DebtInstrumentInterestRateStatedPercentage |
Our business consists of four reportable segments: U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies. Our reportable segments include operating segments that have been aggregated based on the nature of the products and services provided. The accounting policies of the segments are the same... | text | four | integerItemType | text: <entity> four </entity> <entity type> integerItemType </entity type> <context> Our business consists of four reportable segments: U.S. Drilling, International Drilling, Drilling Solutions and Rig Technologies. Our reportable segments include operating segments that have been aggregated based on the nature of the ... | us-gaap:NumberOfReportableSegments |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 927.7 | monetaryItemType | text: <entity> 927.7 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material t... | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 821.1 | monetaryItemType | text: <entity> 821.1 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material t... | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material to our consolidated operating revenue during any of the three periods presented. | text | 712.8 | monetaryItemType | text: <entity> 712.8 </entity> <entity type> monetaryItemType </entity type> <context> During the years ended December 31, 2024, 2023 and 2022, $ 927.7 million, $ 821.1 million and $ 712.8 million of our consolidated operating revenue was from Saudi Arabia. No other individual country outside of the U.S. was material t... | us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax |
One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. | text | 31 | percentItemType | text: <entity> 31 </entity> <entity type> percentItemType </entity type> <context> One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable... | us-gaap:ConcentrationRiskPercentage1 |
One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable segment. | text | 26 | percentItemType | text: <entity> 26 </entity> <entity type> percentItemType </entity type> <context> One customer accounted for approximately 31 %, 26 % and 26 % of our consolidated operating revenues during the years ended December 31, 2024, 2023 and 2022, respectively, and is included primarily in our International Drilling reportable... | us-gaap:ConcentrationRiskPercentage1 |
Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. | text | 18 | percentItemType | text: <entity> 18 </entity> <entity type> percentItemType </entity type> <context> Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginni... | us-gaap:RevenueRemainingPerformanceObligationPercentage |
Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginning of the period is expected to be recognized as revenue during 2026 or thereafter. | text | 13 | percentItemType | text: <entity> 13 </entity> <entity type> percentItemType </entity type> <context> Approximately 69 % of the contract liability balance at the beginning of the period was recognized as revenue during 2024 and 18 % is expected to be recognized in 2025 . The remaining 13 % of the contract liability balance at the beginni... | us-gaap:RevenueRemainingPerformanceObligationPercentage |
In November 2021, NETC cosponsored by Nabors and Greens Road Energy LLC completed its’ initial public offering. Greens Road Energy LLC is owned by certain members of Nabors’ board of directors and management team. As part of the initial public offering of NETC and subsequent private placement warrant transactions, $ 2... | text | 281.5 | monetaryItemType | text: <entity> 281.5 </entity> <entity type> monetaryItemType </entity type> <context> In November 2021, NETC cosponsored by Nabors and Greens Road Energy LLC completed its’ initial public offering. Greens Road Energy LLC is owned by certain members of Nabors’ board of directors and management team. As part of the ini... | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Sim... | text | 9.5 | monetaryItemType | text: <entity> 9.5 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy ... | us-gaap:ProceedsFromIssuanceOfWarrants |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Sim... | text | 3.1 | monetaryItemType | text: <entity> 3.1 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy ... | us-gaap:NotesIssued1 |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Sim... | text | 308.1 | monetaryItemType | text: <entity> 308.1 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energ... | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Sim... | text | 331.8 | monetaryItemType | text: <entity> 331.8 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energ... | us-gaap:AssetsHeldInTrustNoncurrent |
In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energy II LLC is owned by certain members of Nabors’ management team and board members. Sim... | text | 315.5 | monetaryItemType | text: <entity> 315.5 </entity> <entity type> monetaryItemType </entity type> <context> In July 2023, NETC II co-sponsored by Nabors and Greens Road Energy II LLC, completed its initial public offering of 30,500,000 units at $ 10.00 per unit, generating gross proceeds of approximately $ 305.0 million. Greens Road Energ... | us-gaap:AssetsHeldInTrustNoncurrent |
Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. | text | 331.8 | monetaryItemType | text: <entity> 331.8 </entity> <entity type> monetaryItemType </entity type> <context> Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying c... | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying consolidated financial statements as of December 31, 2024 and 2023, respectively. | text | 315.5 | monetaryItemType | text: <entity> 315.5 </entity> <entity type> monetaryItemType </entity type> <context> Approximately $ 331.8 million and $ 315.5 million of non-controlling interest subject to possible redemption is presented at full redemption value as temporary equity, outside of the stockholders’ equity section in the accompanying c... | us-gaap:RedeemableNoncontrollingInterestEquityCarryingAmount |
The Company is the sole general partner of the Operating Partnership. As of December 31, 2024, the Company owned all of the Preferred Units and 107.2 million, or 98.0 %, of the Common Units in the Operating Partnership. Limited partners owned the remaining 2.2 million Common Units. In the event the Company issues share... | text | 5385 | sharesItemType | text: <entity> 5385 </entity> <entity type> sharesItemType </entity type> <context> The Company is the sole general partner of the Operating Partnership. As of December 31, 2024, the Company owned all of the Preferred Units and 107.2 million, or 98.0 %, of the Common Units in the Operating Partnership. Limited partners... | us-gaap:ConversionOfStockSharesConverted1 |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charge... | text | 256.0 | monetaryItemType | text: <entity> 256.0 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over the... | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charge... | text | 253.2 | monetaryItemType | text: <entity> 253.2 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over the... | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over their estimated useful lives. Expenditures for ordinary maintenance and repairs are charge... | text | 240.3 | monetaryItemType | text: <entity> 240.3 </entity> <entity type> monetaryItemType </entity type> <context> Real estate and related assets are recorded at cost and stated at cost less accumulated depreciation. Renovations, replacements and other expenditures that improve or extend the life of assets are capitalized and depreciated over the... | us-gaap:SECScheduleIIIRealEstateAccumulatedDepreciationDepreciationExpense |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 811.6 | monetaryItemType | text: <entity> 811.6 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the ... | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 819.9 | monetaryItemType | text: <entity> 819.9 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the ... | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 816.3 | monetaryItemType | text: <entity> 816.3 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the ... | us-gaap:OperatingLeaseLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 75.3 | monetaryItemType | text: <entity> 75.3 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the y... | us-gaap:VariableLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 72.9 | monetaryItemType | text: <entity> 72.9 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the y... | us-gaap:VariableLeaseIncome |
We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the years ended December 31, 2024, 2023 and 2022, respectively. The following table sets fo... | text | 69.8 | monetaryItemType | text: <entity> 69.8 </entity> <entity type> monetaryItemType </entity type> <context> We recognized rental and other revenues related to operating lease payments of $ 811.6 million, $ 819.9 million and $ 816.3 million, of which variable lease payments were $ 75.3 million, $ 72.9 million and $ 69.8 million, during the y... | us-gaap:VariableLeaseIncome |
We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The month... | text | 2.5 | monetaryItemType | text: <entity> 2.5 </entity> <entity type> monetaryItemType </entity type> <context> We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adj... | us-gaap:OperatingLeasePayments |
We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adjusted periodically based on either the CPI or on a pre-determined schedule. The month... | text | 2.4 | monetaryItemType | text: <entity> 2.4 </entity> <entity type> monetaryItemType </entity type> <context> We have office assets encompassing 1.2 million rentable square feet subject to operating ground leases in Nashville, Orlando, Raleigh and Tampa with a weighted average remaining term of 50 years. Rental payments on these leases are adj... | us-gaap:OperatingLeasePayments |
During 2024, we acquired fee simple title to the land underneath our Century Center assets in Atlanta for a purchase price, including capitalized acquisition costs, of $ 50.8 million. We previously held most of our buildings in Century Center, a 12 -building office park encompassing 1.7 million square feet and 13 acres... | text | 50.8 | monetaryItemType | text: <entity> 50.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we acquired fee simple title to the land underneath our Century Center assets in Atlanta for a purchase price, including capitalized acquisition costs, of $ 50.8 million. We previously held most of our buildings in Centur... | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2023, we acquired land in Raleigh for a purchase price, including capitalized acquisition costs, of $ 2.7 million. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we acquired land in Raleigh for a purchase price, including capitalized acquisition costs, of $ 2.7 million. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2022, we acquired SIX50 at Legacy Union, a 367,000 square foot trophy office building in Charlotte’s Uptown CBD submarket, for a net purchase price of $ 198.0 million. The assets acquired and liabilities assumed were recorded at relative fair value as determined by management, with the assistance of third party ... | text | 198.0 | monetaryItemType | text: <entity> 198.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we acquired SIX50 at Legacy Union, a 367,000 square foot trophy office building in Charlotte’s Uptown CBD submarket, for a net purchase price of $ 198.0 million. The assets acquired and liabilities assumed were recorded ... | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2022, we also acquired land in Charlotte for an aggregate purchase price, including capitalized acquisition costs, of $ 27.0 million. | text | 27.0 | monetaryItemType | text: <entity> 27.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we also acquired land in Charlotte for an aggregate purchase price, including capitalized acquisition costs, of $ 27.0 million. </context> | us-gaap:PropertyPlantAndEquipmentAdditions |
During 2024, we sold a total of 10 buildings in Raleigh and land in Greensboro for an aggregate sales price of $ 105.3 million and recorded aggregate gains on disposition of property of $ 46.8 million. The land sale completed our exit from the Greensboro market. | text | 46.8 | monetaryItemType | text: <entity> 46.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we sold a total of 10 buildings in Raleigh and land in Greensboro for an aggregate sales price of $ 105.3 million and recorded aggregate gains on disposition of property of $ 46.8 million. The land sale completed our exit... | us-gaap:GainLossOnDispositionOfAssets |
During 2023, we sold a total of four buildings and various land parcels in Nashville, Raleigh and Tampa for an aggregate sales price of $ 103.8 million and recorded aggregate gains on disposition of property of $ 47.8 million. | text | 47.8 | monetaryItemType | text: <entity> 47.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a total of four buildings and various land parcels in Nashville, Raleigh and Tampa for an aggregate sales price of $ 103.8 million and recorded aggregate gains on disposition of property of $ 47.8 million. </conte... | us-gaap:GainLossOnDispositionOfAssets |
During 2022, we sold a total of five office buildings and various land parcels in Atlanta, Greensboro, Richmond and Tampa for an aggregate sales price of $ 133.5 million (before closing credits to buyers of $ 1.1 million) and recorded aggregate gains on disposition of property of $ 63.5 million. | text | 63.5 | monetaryItemType | text: <entity> 63.5 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we sold a total of five office buildings and various land parcels in Atlanta, Greensboro, Richmond and Tampa for an aggregate sales price of $ 133.5 million (before closing credits to buyers of $ 1.1 million) and recorded... | us-gaap:GainLossOnDispositionOfAssets |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 ba... | text | 2.0 | monetaryItemType | text: <entity> 2.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form... | us-gaap:ProceedsFromSaleOfRealEstate |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 ba... | text | 19.0 | monetaryItemType | text: <entity> 19.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the for... | us-gaap:NotesReceivableGross |
During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form of a two-year , interest-only first mortgage that bears interest at SOFR plus 100 ba... | text | 100 | percentItemType | text: <entity> 100 </entity> <entity type> percentItemType </entity type> <context> During 2023, we sold a land parcel in Tampa for an aggregate sales price of $ 21.0 million. In connection with this disposition, we received cash of $ 2.0 million and provided $ 19.0 million of non-recourse seller financing in the form ... | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During 2024, we recorded an impairment charge of $ 24.6 million to lower the carrying amount of EQT Plaza, a 616,000 square foot non-core building in CBD Pittsburgh, to its estimated fair value. | text | 24.6 | monetaryItemType | text: <entity> 24.6 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, we recorded an impairment charge of $ 24.6 million to lower the carrying amount of EQT Plaza, a 616,000 square foot non-core building in CBD Pittsburgh, to its estimated fair value. </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
During the third quarter of 2022, we recorded an impairment charge of $ 1.5 million to lower the carrying amount of a land parcel to its estimated fair value; and | text | 1.5 | monetaryItemType | text: <entity> 1.5 </entity> <entity type> monetaryItemType </entity type> <context> During the third quarter of 2022, we recorded an impairment charge of $ 1.5 million to lower the carrying amount of a land parcel to its estimated fair value; and </context> | us-gaap:ImpairmentOfLongLivedAssetsHeldForUse |
We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the... | text | 21.3 | monetaryItemType | text: <entity> 21.3 </entity> <entity type> monetaryItemType </entity type> <context> We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operat... | us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity |
We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operating and financial policies of the joint venture investment. The difference between the... | text | 18.9 | monetaryItemType | text: <entity> 18.9 </entity> <entity type> monetaryItemType </entity type> <context> We have equity interests of up to 50.0 % in various joint ventures with unrelated third parties that are accounted for using the equity method of accounting because we have the ability to exercise significant influence over the operat... | us-gaap:EquityMethodInvestmentDifferenceBetweenCarryingAmountAndUnderlyingEquity |
In 1999, we formed a joint venture with Markel Corporation in which we own a 50.0 % interest. The Markel joint venture was consolidated as of December 31, 2022 because we controlled the major operating and financial policies of the entity. Effective January 1, 2023, the agreement governing the joint venture was modifie... | text | 11.8 | monetaryItemType | text: <entity> 11.8 </entity> <entity type> monetaryItemType </entity type> <context> In 1999, we formed a joint venture with Markel Corporation in which we own a 50.0 % interest. The Markel joint venture was consolidated as of December 31, 2022 because we controlled the major operating and financial policies of the en... | us-gaap:DeconsolidationGainOrLossAmount |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR r... | text | 115.0 | monetaryItemType | text: <entity> 115.0 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint ve... | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR r... | text | 394 | percentItemType | text: <entity> 394 </entity> <entity type> percentItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint ventu... | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR r... | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint ventu... | us-gaap:DerivativeCapInterestRate |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR r... | text | 95.2 | monetaryItemType | text: <entity> 95.2 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint ven... | us-gaap:DerivativeNotionalAmount |
The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR r... | text | 38.8 | monetaryItemType | text: <entity> 38.8 </entity> <entity type> monetaryItemType </entity type> <context> The Granite Park Six joint venture obtained a construction loan for $ 115.0 million, with an interest rate of SOFR plus 394 basis points and a maturity date of January 2026. In connection with this loan, the Granite Park Six joint ven... | us-gaap:DerivativeNotionalAmount |
million to the Granite Park Six joint venture to pay down the outstanding $ 70.9 million balance of the construction loan. This reconsideration event did not change our initial conclusion that the Granite Park Six joint venture is a variable interest entity of which we are not the primary beneficiary. As such, the enti... | text | 70.9 | monetaryItemType | text: <entity> 70.9 </entity> <entity type> monetaryItemType </entity type> <context> million to the Granite Park Six joint venture to pay down the outstanding $ 70.9 million balance of the construction loan. This reconsideration event did not change our initial conclusion that the Granite Park Six joint venture is a v... | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. Th... | text | 265.0 | monetaryItemType | text: <entity> 265.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained i... | us-gaap:LongtermConstructionLoanCurrentAndNoncurrent |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. Th... | text | 355 | percentItemType | text: <entity> 355 </entity> <entity type> percentItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained inte... | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. Th... | text | 3.5 | percentItemType | text: <entity> 3.5 </entity> <entity type> percentItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained inte... | us-gaap:DerivativeCapInterestRate |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. Th... | text | 83.0 | monetaryItemType | text: <entity> 83.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained in... | us-gaap:DerivativeNotionalAmount |
The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained interest rate hedge contracts that effectively cap the underlying SOFR rate at 3.5 %. Th... | text | 134.0 | monetaryItemType | text: <entity> 134.0 </entity> <entity type> monetaryItemType </entity type> <context> The 23Springs joint venture obtained a construction loan for $ 265.0 million, with an interest rate of SOFR plus 355 basis points and a maturity date of March 2026. In connection with this loan, the 23Springs joint venture obtained i... | us-gaap:DerivativeNotionalAmount |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated ... | text | 137.0 | monetaryItemType | text: <entity> 137.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint v... | us-gaap:BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFinancialLiabilities |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated ... | text | 4.5 | percentItemType | text: <entity> 4.5 </entity> <entity type> percentItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint vent... | us-gaap:DebtInstrumentInterestRateStatedPercentage |
During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint venture assumed a secured loan recorded at fair value of $ 137.0 million, with a stated ... | text | 5.3 | percentItemType | text: <entity> 5.3 </entity> <entity type> percentItemType </entity type> <context> During 2022, we expanded our Dallas market presence by acquiring McKinney & Olive through the formation of another joint venture with Granite in which we own a 50.0 % interest. As part of the transaction, the McKinney & Olive joint vent... | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
During 2024, the McKinney & Olive joint venture paid off at maturity the remaining $ 134.3 million balance on the secured mortgage loan. In connection with this loan payoff, we and Granite each contributed $ 62.1 million to the joint venture. | text | 134.3 | monetaryItemType | text: <entity> 134.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2024, the McKinney & Olive joint venture paid off at maturity the remaining $ 134.3 million balance on the secured mortgage loan. In connection with this loan payoff, we and Granite each contributed $ 62.1 million to the joint... | us-gaap:DebtInstrumentFaceAmount |
During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on t... | text | 40.0 | monetaryItemType | text: <entity> 40.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equi... | us-gaap:PaymentsToAcquireEquityMethodInvestments |
During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity investment in full. Prior to the redemption, we received monthly distributions on t... | text | 350 | percentItemType | text: <entity> 350 </entity> <entity type> percentItemType </entity type> <context> During 2023, we and Granite each contributed an additional $ 40.0 million of common equity to the McKinney & Olive joint venture. Such proceeds were then used by the joint venture to redeem our $ 80.0 million short-term preferred equity... | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
During 2022, we formed a joint venture with The Bromley Companies (“Bromley”) in which we own a 50.0 % interest to construct Midtown East, a multi-customer office development project located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. Upon completion, the Midtown East joint venture will own 1... | text | 52.3 | monetaryItemType | text: <entity> 52.3 </entity> <entity type> monetaryItemType </entity type> <context> During 2022, we formed a joint venture with The Bromley Companies (“Bromley”) in which we own a 50.0 % interest to construct Midtown East, a multi-customer office development project located in the mixed-use Midtown Tampa project in T... | us-gaap:AdvancesToAffiliate |
anniversary of completion. The loan bears interest at SOFR plus 450 basis points. As of December 31, 2024, $ 21.4 million was drawn on this loan. | text | 450 | percentItemType | text: <entity> 450 </entity> <entity type> percentItemType </entity type> <context> anniversary of completion. The loan bears interest at SOFR plus 450 basis points. As of December 31, 2024, $ 21.4 million was drawn on this loan. </context> | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
As of December 31, 2024, our risk of loss with respect to this arrangement was $ 35.5 million, which consists of the $ 14.1 million carrying value of our investment balance plus the $ 21.4 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in i... | text | 14.1 | monetaryItemType | text: <entity> 14.1 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our risk of loss with respect to this arrangement was $ 35.5 million, which consists of the $ 14.1 million carrying value of our investment balance plus the $ 21.4 million outstanding balance of the loan we ha... | us-gaap:EquityMethodInvestments |
During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contrib... | text | 52.8 | monetaryItemType | text: <entity> 52.8 </entity> <entity type> monetaryItemType </entity type> <context> During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture h... | us-gaap:AdvancesToAffiliate |
During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has an anticipated total investment of $ 79.0 million. At closing, we agreed to contrib... | text | 310 | percentItemType | text: <entity> 310 </entity> <entity type> percentItemType </entity type> <context> During 2021, we formed a joint venture with Brand Properties, LLC (“Brand”) to construct 2827 Peachtree, a 135,000 square foot, multi-customer office building located in Atlanta’s Buckhead submarket. The 2827 Peachtree joint venture has... | us-gaap:DebtInstrumentBasisSpreadOnVariableRate1 |
As of December 31, 2024, our risk of loss with respect to this arrangement was $ 60.7 million, which consists of the $ 12.5 million carrying value of our investment balance plus the $ 48.2 million outstanding balance of the loan we have provided to the joint venture. The outstanding balance on the loan is recorded in i... | text | 12.5 | monetaryItemType | text: <entity> 12.5 </entity> <entity type> monetaryItemType </entity type> <context> As of December 31, 2024, our risk of loss with respect to this arrangement was $ 60.7 million, which consists of the $ 12.5 million carrying value of our investment balance plus the $ 48.2 million outstanding balance of the loan we ha... | us-gaap:EquityMethodInvestments |
In 2019, we and Bromley formed a joint venture to construct Midtown West, a 152,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. At closing, we agreed to contribute cash of $ 20.0 million, which has been fully funded, in exchange for an 80.0 ... | text | 20.0 | percentItemType | text: <entity> 20.0 </entity> <entity type> percentItemType </entity type> <context> In 2019, we and Bromley formed a joint venture to construct Midtown West, a 152,000 square foot, multi-customer office building located in the mixed-use Midtown Tampa project in Tampa’s Westshore submarket. At closing, we agreed to con... | us-gaap:MinorityInterestOwnershipPercentageByNoncontrollingOwners |
$ 46.3 million interest-only secured construction loan to the Midtown West joint venture. All of the amounts outstanding under this loan were repaid in 2023. | text | 46.3 | monetaryItemType | text: <entity> 46.3 </entity> <entity type> monetaryItemType </entity type> <context> $ 46.3 million interest-only secured construction loan to the Midtown West joint venture. All of the amounts outstanding under this loan were repaid in 2023. </context> | us-gaap:AdvancesToAffiliate |
During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the t... | text | 45.0 | monetaryItemType | text: <entity> 45.0 </entity> <entity type> monetaryItemType </entity type> <context> During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint ven... | us-gaap:DebtInstrumentFaceAmount |
During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint venture incurred $ 0.8 million of debt issuance costs, which will be amortized over the t... | text | 7.29 | percentItemType | text: <entity> 7.29 </entity> <entity type> percentItemType </entity type> <context> During 2023, the Midtown West joint venture obtained a $ 45.0 million, five-year secured mortgage loan from a third party lender, with an effective fixed rate of 7.29 %. This loan is scheduled to mature in November 2028. The joint vent... | us-gaap:DebtInstrumentInterestRateEffectivePercentage |
Our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $ 1,245.0 million as of December 31, 2024. We paid down $ 7.1 million of secured loan balances through principal amortization during 2024. | text | 7.1 | monetaryItemType | text: <entity> 7.1 </entity> <entity type> monetaryItemType </entity type> <context> Our secured mortgage loans were collateralized by real estate assets with an undepreciated book value of $ 1,245.0 million as of December 31, 2024. We paid down $ 7.1 million of secured loan balances through principal amortization duri... | us-gaap:DebtInstrumentAnnualPrincipalPayment |
Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. | text | 2.1 | monetaryItemType | text: <entity> 2.1 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. | text | 2.7 | monetaryItemType | text: <entity> 2.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 2.1 million and $ 2.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.4 | monetaryItemType | text: <entity> 1.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 1.4 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. | text | 8.0 | monetaryItemType | text: <entity> 8.0 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. | text | 8.6 | monetaryItemType | text: <entity> 8.6 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized fair market value premium of $ 8.0 million and $ 8.6 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedPremium |
Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. | text | 0.9 | monetaryItemType | text: <entity> 0.9 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.9 million and $ 1.3 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.3 | monetaryItemType | text: <entity> 1.3 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. | text | 1.7 | monetaryItemType | text: <entity> 1.7 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 1.3 million and $ 1.7 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.4 | monetaryItemType | text: <entity> 0.4 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. | text | 0.5 | monetaryItemType | text: <entity> 0.5 </entity> <entity type> monetaryItemType </entity type> <context> Net of unamortized original issuance discount of $ 0.4 million and $ 0.5 million as of December 31, 2024 and 2023, respectively. </context> | us-gaap:DebtInstrumentUnamortizedDiscount |
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