Peakstone Realty Trust (PKST) 10-K 22 Feb 24 2023 FY Annual report Financial data

Cover

Cover - USD ($) $ in Billions	12 Months Ended
	Dec. 31, 2023	Feb. 20, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-41686
Entity Registrant Name	Peakstone Realty Trust
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	46-4654479
Entity Address, Address Line One	1520 E. Grand Ave
Entity Address, City or Town	El Segundo
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90245
City Area Code	310
Local Phone Number	606-3200
Title of 12(b) Security	Common shares, $0.0001 par value per share
Trading Symbol	PKST
Security Exchange Name	NYSE
Entity Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Entity Shell Company	false
Document Financial Statement Error Correction	false
Entity Public Float			$ 1
Entity Common Stock, Shares Outstanding		36,305,957
Documents Incorporated by Reference	Documents Incorporated by Reference: Portions of the registrant’s definitive proxy statement for the registrant’s 2024 Annual Meeting of Shareholders, to be filed within 120 days after the close of the registrant’s fiscal year, are incorporated by reference into Part III (Items 10, 11, 12, 13 and 14) of this Annual Report on Form 10-K.
Entity Central Index Key	0001600626
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Firm ID	42
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles, California

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
ASSETS
Cash and cash equivalents	$ 391,802	$ 233,180
Restricted cash	9,208	4,764
Real estate:
Land	231,175	327,408
Building and improvements	1,968,314	2,631,965
Tenant origination and absorption cost	402,251	535,889
Construction in progress	8,371	1,994
Total real estate	2,610,111	3,497,256
Less: accumulated depreciation and amortization	(550,552)	(644,639)
Total real estate, net	2,059,559	2,852,617
Investments in unconsolidated entity	0	178,647
Intangible assets, net	29,690	33,861
Deferred rent receivable	63,272	79,572
Deferred leasing costs, net	19,112	26,507
Goodwill	78,647	94,678
Right of use assets	33,736	35,453
Interest rate swap asset	26,942	41,404
Other assets	27,446	31,877
Real estate assets and other assets held for sale, net	50,211	20,816
Total assets	2,789,625	3,633,376
LIABILITIES AND EQUITY
Debt, net	1,435,923	1,485,402
Distributions payable	8,344	12,402
Intangible liabilities, net	16,023	20,658
Lease liability	46,281	46,519
Accrued expenses and other liabilities	78,229	80,802
Liabilities of real estate assets held for sale	539	0
Total liabilities	1,585,912	1,647,241
Commitments and contingencies (Note 13)
Perpetual convertible preferred shares	0	125,000
Noncontrolling interests subject to redemption; zero and 61,788 units as of December 31, 2023 and December 31, 2022, respectively	0	3,812
Shareholders’ equity:
Common shares, $0.001 par value; 800,000,000 shares authorized; 36,304,145 and 35,999,898 shares outstanding in the aggregate as of December 31, 2023 and December 31, 2022, respectively	36	36
Additional paid-in-capital	2,990,085	2,948,600
Cumulative distributions	(1,076,000)	(1,036,678)
Accumulated earnings	(827,854)	(269,926)
Accumulated other comprehensive income	25,817	40,636
Total shareholders’ equity	1,112,084	1,682,668
Noncontrolling interests	91,629	174,655
Total equity	1,203,713	1,857,323
Total liabilities and equity	2,789,625	3,633,376
Related Party
LIABILITIES AND EQUITY
Due to related parties	$ 573	$ 1,458

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
Units eligible towards redemption (in shares)	0	61,788
Common stock, par value (in usd per share)	$ 0.001	$ 0.001
Common stock, shares authorized (in shares)	800,000,000	800,000,000
Common stock, number of shares outstanding (in shares)	36,304,145	35,999,898

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue:
Rental income	$ 254,284	$ 416,485	$ 459,872
Expenses:
Property operating expense	29,090	52,451	61,259
Property tax expense	21,523	37,317	41,248
Property management fees	1,813	3,496	4,066
General and administrative expenses	42,962	38,995	39,051
Corporate operating expenses to related parties	1,154	1,349	2,520
Real estate impairment provision	409,512	127,577	4,242
Depreciation and amortization	112,204	190,745	209,638
Total expenses	618,258	451,930	362,024
Income before other income (expenses)	(363,974)	(35,445)	97,848
Other income (expenses):
Interest expense	(65,623)	(84,816)	(85,087)
Debt breakage costs	0	(13,249)	0
Other income (expense), net	13,111	(943)	93
Net loss from investment in unconsolidated entity	(176,767)	(9,993)	8
Net gain (loss) from disposition of assets	29,164	(139,280)	(326)
Goodwill impairment provision	(16,031)	(135,270)	0
Transaction expenses	(24,982)	(22,386)	(966)
Net (loss) income	(605,102)	(441,382)	11,570
Distributions to redeemable preferred shareholders	(2,375)	(10,063)	(9,698)
Preferred units redemption	(4,970)	0	0
Net (income) loss attributable to noncontrolling interests	54,555	39,714	(66)
Net income (loss) attributable to controlling interest	(557,892)	(411,731)	1,806
Distributions to redeemable noncontrolling interests attributable to common shareholders	(36)	(178)	(177)
Net (loss) income attributable to common shareholders	$ (557,928)	$ (411,909)	$ 1,629
Net (loss) income attributable to common stockholders per share, basic (in usd per share)	$ (15.50)	$ (11.41)	$ 0.04
Net (loss) income attributable to common stockholders per share, diluted (in usd per share)	$ (15.50)	$ (11.41)	$ 0.04
Weighted average number of common shares outstanding - basic (in shares)	35,988,231	36,057,825	34,361,208
Weighted average number of common shares outstanding - diluted (in shares)	35,988,231	36,057,825	34,361,208

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (605,102)	$ (441,382)	$ 11,570
Other comprehensive income:
Equity in other comprehensive (loss) income of unconsolidated joint venture	(1,880)	1,880	0
Change in fair value of swap agreements	(14,335)	63,182	32,449
Total comprehensive (loss) income	(621,317)	(376,320)	44,019
Distributions to redeemable preferred shareholders	(2,375)	(10,063)	(9,698)
Preferred units redemption charge	(4,970)	0	0
Distributions to redeemable noncontrolling interests attributable to common shareholders	(36)	(178)	(177)
Comprehensive loss (income) attributable to noncontrolling interests	55,951	33,996	(3,222)
Comprehensive (loss) income attributable to common shareholders	$ (572,747)	$ (352,565)	$ 30,922

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Shareholders’ Equity	Common Shares	Additional Paid-In Capital	Cumulative Distributions	Accumulated Earnings	Accumulated Other Comprehensive (Loss) Income	Non-controlling Interests
Balance (in shares) at Dec. 31, 2020			25,591,187
Balance at Dec. 31, 2020	$ 1,608,272	$ 1,381,722	$ 26	$ 2,103,235	$ (813,892)	$ 140,354	$ (48,001)	$ 226,550
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deferred equity compensation (in shares)			96,528
Deferred equity compensation	8,889	8,889		8,889
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares (in shares)			(35,200)
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares	(2,875)	(2,875)		(2,875)
Cash dividends to common shareholders	(88,262)	(88,262)			(88,262)
Issuance/Reversal of shares for distribution reinvestment plan (in shares)			282,361
Issuance of shares for distribution reinvestment plan	2,477	2,477		22,885	(20,408)
Repurchase of common shares (in shares)			(248,159)
Repurchase of common shares	(20,172)	(20,172)		(20,172)
Reclass of noncontrolling interest subject to redemption	(159)							(159)
Reclass of common shares subject to redemption	2,037	2,037		2,037
Issuance of shares related to the CCIT II Merger (in shares)			10,384,185
Issuance of shares related to the CCIT II Merger	838,315	838,315	$ 10	838,305
Distributions to noncontrolling interest	(10,942)							(10,942)
Distributions to noncontrolling interests subject to redemption	(18)							(18)
Offering costs	(43)	(43)		(43)
Net (loss) income	1,695	1,629				1,629		66
Other comprehensive income	32,449	29,293					29,293	3,156
Balance (in shares) at Dec. 31, 2021			36,070,902
Balance at Dec. 31, 2021	2,371,663	2,153,010	$ 36	2,952,261	(922,562)	141,983	(18,708)	218,653
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deferred equity compensation (in shares)			125,176
Deferred equity compensation	9,573	9,573		9,573
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares (in shares)			(46,448)
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares	(3,189)	(3,189)		(3,189)
Cash dividends to common shareholders	(114,116)	(114,116)			(114,116)
Issuance/Reversal of shares for distribution reinvestment plan (in shares)			2
Repurchase of common shares (in shares)			(149,730)
Repurchase of common shares	(9,999)	(9,999)		(9,999)
Exchange of noncontrolling interests								0
Reclass of noncontrolling interest subject to redemption	957							957
Reclass of redeemable noncontrolling interest								0
Distributions to noncontrolling interest	(10,942)							(10,942)
Distributions to noncontrolling interests subject to redemption	(17)							(17)
Offering costs	(46)	(46)		(46)
Offering costs on preferred units	0
Net (loss) income	(451,623)	(411,909)				(411,909)		(39,714)
Other comprehensive income	$ 65,062	59,344					59,344	5,718
Balance (in shares) at Dec. 31, 2022	35,999,898		35,999,898
Balance at Dec. 31, 2022	$ 1,857,323	1,682,668	$ 36	2,948,600	(1,036,678)	(269,926)	40,636	174,655
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Deferred equity compensation (in shares)			172,603
Deferred equity compensation	12,040	12,040		12,040
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares (in shares)			(114,420)
Shares withheld to satisfy employee tax withholding requirements on vesting restricted shares	(2,625)	(2,625)		(2,625)
Cash dividends to common shareholders	(39,322)	(39,322)			(39,322)
Share class conversion (in shares)			(69,988)
Repurchase of common shares (in shares)			(896)
Repurchase of common shares	(60)	(60)		(60)
Exchange of noncontrolling interests (in shares)			316,948
Exchange of noncontrolling interests	0	27,169		27,169				(27,169)
Reclass of noncontrolling interest subject to redemption	10							10
Reclass of redeemable noncontrolling interest	3,801							3,801
Distributions to noncontrolling interest	(2,989)							(2,989)
Distributions to noncontrolling interests subject to redemption	(728)							(728)
Offering costs	(9)	(9)		(9)
Offering costs on preferred units	4,970	4,970		4,970
Net (loss) income	(612,483)	(557,928)				(557,928)		(54,555)
Other comprehensive income	$ (16,215)	(14,819)					(14,819)	(1,396)
Balance (in shares) at Dec. 31, 2023	36,304,145		36,304,145
Balance at Dec. 31, 2023	$ 1,203,713	$ 1,112,084	$ 36	$ 2,990,085	$ (1,076,000)	$ (827,854)	$ 25,817	$ 91,629

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities:
Net loss	$ (605,102)	$ (441,382)	$ 11,570
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation of building and building improvements	72,273	113,191	125,388
Amortization of leasing costs and intangibles, including ground leasehold interests and leasing costs	41,425	79,049	85,502
Amortization of below market leases, net	(1,239)	(2,205)	(1,323)
Amortization of deferred financing costs and debt premium	4,049	5,724	3,593
Amortization of swap interest	126	126	126
Deferred rent	(6,229)	(13,350)	(8,718)
Write-off reserves	0	0	(1,166)
(Gain)/Loss from sale of depreciable operating properties	(29,164)	139,280	326
Gain on fair value of earn-out	0	0	(65)
Loss (income) from investment in unconsolidated entities	176,767	10,979	(8)
Gain from investments	18	194	125
Impairment provision - real estate assets	409,512	127,577	4,242
Impairment provision - goodwill	16,031	135,270	0
Share-based compensation	12,041	9,574	7,469
Other income - proration adjustments for dispositions	(1,587)	0	0
Change in operating assets and liabilities:
Deferred leasing costs and other assets	(5,282)	1,002	(13,938)
Restricted reserves	0	0	(490)
Accrued expenses and other liabilities	6,233	(11,664)	(8,003)
Due to related parties, net	(720)	(689)	349
Net cash provided by operating activities	89,152	152,676	204,979
Investing Activities:
Cash acquired in connection with the CCIT II Merger, net of acquisition costs	0	0	(36,746)
Proceeds from disposition of properties	325,160	1,120,803	22,408
Restricted reserves	0	(266)	1,078
Payments for construction in progress	(16,323)	(17,494)	(49,260)
Distributions of capital from investment in unconsolidated entities	0	0	42
Sale of investment in unconsolidated entities	0	31,000	0
Purchase of investment in unconsolidated entities	0	(34,558)	0
Purchase of investments	(282)	(1,142)	(332)
Net cash provided by (used in) investing activities	308,555	1,098,343	(62,810)
Financing Activities:
Proceeds from borrowings - Credit Facility	400,000	0	0
Proceeds from borrowings - Term Loan	0	0	400,000
Principal payoff of indebtedness - CCIT II Credit Facility	0	0	(415,500)
Principal payoff of secured indebtedness - Mortgage Debt	(41,283)	(469,777)	(1,292)
Principal pay down of indebtedness - Revolving Credit Facility	0	(373,500)	0
Principal payoff of indebtedness - Term Loan	(400,000)	(200,000)	0
Principal amortization payments on secured indebtedness	(6,973)	(8,736)	(9,786)
Deferred financing costs	(3,530)	(2,724)	(567)
Redemption of preferred units	(125,000)	0	0
Offering costs	(796)	(43)	(47)
Repurchase of common shares	(4,443)	(5,617)	(25,517)
Repurchase of common shares to satisfy employee tax withholding requirements	(2,625)	(3,189)	(2,874)
Dividends paid on preferred units subject to redemption	(4,891)	(10,063)	(9,542)
Distributions to noncontrolling interests	(3,974)	(11,136)	(11,134)
Distributions to common shareholders	(40,807)	(114,110)	(82,976)
Financing lease payment	(319)	(320)	(100)
Net cash used in financing activities	(234,641)	(1,199,215)	(159,335)
Net increase (decrease) in cash, cash equivalents and restricted cash	163,066	51,804	(17,166)
Cash, cash equivalents and restricted cash at the beginning of the period	237,944	186,140	203,306
Cash, cash equivalents and restricted cash at the end of the period	401,010	237,944	186,140
Supplemental disclosure of cash flow information:
Cash paid for interest	58,154	75,122	80,958
Supplemental disclosures of non-cash investing and financing transactions:
Dividends payable to common shareholders	8,193	9,678	9,672
Distributions payable to noncontrolling interests	724	946	946
Common shares issued pursuant to the distribution reinvestment plan	0	0	22,886
Common share redemptions funded subsequent to period-end	0	4,383	0
Exchange of noncontrolling interest to common stock	27,169	0	0
Accrued for construction in progress	1,183	35	1,114
Accrued tenant obligations	551	620	10,123
Increase (decrease) in fair value swap agreement	(14,335)	63,182	32,449
Decrease in stockholder servicing fee payable	0	(92)	0
Operating lease right-of-use assets obtained in exchange for lease liabilities	0	1,358	0
Net assets acquired in CCIT II Merger in exchange for common shares	0	0	838,315
Capitalized transaction costs paid in prior period	0	0	2,170
Contribution in Unconsolidated Joint Venture	1,960	0	0
Note Payable in Unconsolidated Joint Venture	$ (1,960)	$ 0	$ 0

Organization

Organization	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	Organization Peakstone Realty Trust is an internally managed, publicly traded real estate investment trust (“REIT”) that owns and operates a high-quality, newer-vintage portfolio of predominantly single-tenant industrial and office properties located in diverse, strategic growth markets. These assets are generally leased to creditworthy tenants under long-term net lease agreements with contractual rent escalations. PKST OP, L.P., our operating partnership (the “Operating Partnership”), owns, directly and indirectly all of the Company’s assets. As of December 31, 2023, the Company owned approximately 91.8% of the outstanding common units of limited partnership interest in the Operating Partnership (“OP Units”). As of December 31, 2023, the Company’s wholly-owned portfolio comprised 71 properties located in 24 states, which are reported across three segments: Industrial (19 properties), Office (35 properties), and Other (17 properties).

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Presentation and Summary of Significant Accounting Policies	Basis of Presentation and Summary of Significant Accounting Policies The accompanying cons olidated financial statements of the Company are prepared by management on the accrual basis of accounting and in accordance with generally accepted accounting principles in the United States (“GAAP”) as contained in the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”), and in conjunction with rules and regulations of the SEC. The consolidated financial statements include accounts and related adjustments, which are, in the opinion of management, of a normal recurring nature and necessary for a fair presentation of the Company's financial position, results of operations and cash flows for each of the three years in the period ended December 31, 2023, 2022, and 2021. The consolidated financial statements of the Company include all accounts of the Company, the Operating Partnership and its consolidated subsidiaries. Intercompany transactions are shown on the consolidated statements. if and to the extent required pursuant to GAAP. With the exception of the Office Joint Venture (defined below), each property-owning entity is a wholly-owned subsidiary which is a special purpose entity (“SPE”). If a property is separately financed (i.e., not part of the borrowing base under our credit facility or a collateralized loan pool), the income from such property generally is not available to satisfy the debts or obligations of any other entity. Principles of Consolidation The Company's financial statements, and the financial statements of the Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by the Company is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation. Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interests at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. See Note 4, Investments in Unconsolidated Entities, for more detail . The Company has determined that the Operating Partnership is a variable interest entity because the holders of limited partnership interests do not have substantive kick-out rights or participation rights. Furthermore, the Company is the primary beneficiary of the Operating Partnership because the Company has the obligation to absorb losses and the right to receive benefits from the Operating Partnership and the exclusive power to direct the activities of the Operating Partnership. As of December 31, 2023 and 2022, the assets and liabilities of the Company and the Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investment in the Operating Partnership. Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. Refer to Restricted Cash below for certain cash balances that meet the definition of restricted cash. The Company maintains its cash accounts with major financial institutions. The cash balances consist of business checking accounts. These accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 at each institution. The Company has not experienced any losses with respect to cash balances in excess of government provided insurance. Management believes there was no significant concentration of credit risk with respect to these cash balances as of December 31, 2023. Restricted Cash As required by certain lease provisions or certain lenders in conjunction with debt financing or transactions, the Company assumed or funded reserves as required by the applicable governing documents, which are included on the consolidated balance sheets as restricted cash. Additionally, an ongoing replacement reserve is funded by certain tenants pursuant to such tenants respective lease as follows: Balance as of December 31, 2023 2022 Cash reserves $ 7,200 $ 4,262 Restricted lockbox 2,008 502 Total $ 9,208 $ 4,764 Real Estate Purchase Price Allocation The Company applies the provisions in ASC 805-10, Business Combinations (“ASC 805-10”), to account for the acquisition of real estate, or real estate related assets, in which a lease, or other contract, is in place representing an active revenue stream, as an asset acquisition (or when applicable, a business combination). In accordance with the provisions of ASC 805-10 (on an asset acquisition), the Company recognizes the assets acquired, the liabilities assumed and any noncontrolling interest in the acquired entity at their relative fair values. The accounting provisions have also established that transaction costs associated with an asset acquisition are capitalized. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition. The valuation is measured based on the present value (using an interest rate, which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management’s estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases, taking into consideration below-market extension options for below-market leases. In addition, renewal options are considered and will be included in the valuation of in-place leases if, in management’s judgment, (1) it is likely that the tenant will exercise the option, and (2) the renewal rent is considered to be sufficiently below a fair market rental rate at the time of renewal. The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases. The aggregate relative fair value of in-place leases includes direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals, which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs, and are estimated using methods similar to those used in independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are considered intangible lease assets and are included with real estate assets on the consolidated balance sheets. The intangible lease assets are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid, including real estate taxes, insurance, and other operating expenses, pursuant to the in-place leases over a market lease-up period for a similar lease. Customer relationships are valued based on management’s evaluation of certain characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics management will consider in allocating these values include the nature and extent of the Company’s existing business relationships with tenants, growth prospects for developing new business with the tenant, the credit quality of the tenant, the lease guarantor and/or the parent entity, and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. These intangibles will be included in intangible lease assets on the consolidated balance sheets and are amortized to expense over the remaining term of the respective leases. The determination of the relative fair values of the assets and liabilities acquired requires the use of significant assumptions about current market rental rates, rental growth rates, discount rates and other variables. Depreciation and Amortization The purchase price of real estate acquired and costs related to development, construction, and property improvements are capitalized. Repairs and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. The Company considers the period of future benefit of an asset to determine the appropriate useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 25-40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases If a lease is terminated or amended prior to its scheduled expiration, the Company will accelerate/extend the remaining useful life of the unamortized lease-related costs. Impairment of Real Estate and Related Intangible Assets and Liabilities In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC 360, the Company assesses the carrying values of our real estate assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Where indicators of impairment exist, the Company evaluates the recoverability of its real estate assets by comparing the carrying amounts of the assets to the estimated undiscounted cash flows. The estimation required in the undiscounted future cash flows includes estimates of future market and economic conditions impacting the Company's real estate assets, including assumptions related to estimated selling prices, anticipated hold periods, potential vacancies, capitalization rates, market rental income amounts subsequent to the expiration of current lease agreements, and property operating expenses. When the carrying amounts of the real estate assets are not recoverable based on the undiscounted cash flows, the Company will calculate an impairment charge as the amount the carrying value exceeds the estimated fair value of the real estate property as of the measurement date. Fair value is determined through certain valuation techniques involving (i) discounted cash flow models applying significant assumptions related to market rent, terminal capitalization rates, and discount rates or (ii) estimated selling prices based on quoted market values or comparable property sales. Refer to Note 3, Real Estate , for further details. Impairment of Goodwill Goodwill arises from business combinations and represents the excess of the cost of an acquired entity over the net fair value amounts that were assigned to the identifiable assets acquired and the liabilities assumed. The Company recorded goodwill as a result of the transaction that resulted in the internalization of PKST management in December 2018 (“Self-Administration Transaction”). The Company’s goodwill was initially assigned to a single reporting unit as of the acquisition date of the Self-Administration Transaction. In the fourth quarter of 2022, the Company realigned its operating segments to Industrial, Office, and Other, which resulted in a change in the composition of its reporting units; therefore, the Company reassigned goodwill to the respective reporting units. The Company’s goodwill has an indeterminate life and is not amortized. Goodwill is tested for impairment on an annual basis for each reporting unit as of October 1st of each period, or more frequently if events or changes in circumstances indicate that the asset is more likely than not impaired. The Company performs a qualitative analysis to determine whether a potential impairment of goodwill exists prior to quantitatively estimating the fair value of each reporting unit. If an impairment exists, the Company recognizes an impairment of goodwill based on the excess of the reporting unit’s carrying value compared to its fair value, up to the amount of goodwill for that reporting unit. Under the quantitative assessment, the Company determined that the fair value of real estate assets and mortgage loans are the significant components in determining the fair value for each reporting unit. The Company estimates the fair value of real estate assets using (i) discounted cash flow models applying significant assumptions related to market rent, terminal capitalization rates, and discount rates or (ii) estimated selling prices based on quoted market values or comparable property sales. The Company estimates the fair value of the mortgage loans in each reporting unit by discounting each loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. For the amounts within the consolidated financial statements for the remaining assets and liabilities, the Company determines whether those balances generally approximate fair value. For any corporate related amounts that are not specifically identifiable to any reporting unit, the Company allocates those amounts on a relative fair value basis using the specifically identified assets and liabilities. As a result of the qualitative and quantitative assessment as of October 1, 2023, the Company concluded that it was more likely than not that the fair value of the Other reporting unit was less than the carrying amount. The impairment resulted from a decline in fair value of certain underlying properties within the Other reporting unit, particularly as we continue to execute on our strategic disposition plan under current market conditions. Thus, the Company recorded a $16.0 million impairment of goodwill allocated to its Other reporting unit. As of December 31, 2023, the Company’s goodwill balance was $78.6 million, of which $68.4 million was allocated to the Industrial segment and $10.3 million was allocated to the Other segment. See Note 14, Segment Reporting , for allocation of goodwill for each of the Company’s segments. Impairment of Investments in Unconsolidated Entities If applicable, the Company performs a quarterly evaluation of its equity method investments in unconsolidated entities for a potential other-than-temporary impairment (“OTTI”). If the Company’s investment is other than temporarily impaired, it determines the fair value of its investment and records the impairment measured as the difference between its carrying amount and fair value. The impairment is recorded to net earnings or loss from investment in unconsolidated entities on the consolidated statement of operations. See Note 4, Investment in Unconsolidated Entities , for further details. Revenue Recognition Leases associated with the acquisition and contribution of certain real estate assets have net minimum rent payment increases during the term of the lease and are recorded to rental revenue on a straight-line basis, commencing as of the contribution or acquisition date. If a lease provides for contingent rental income, the Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Tenant reimbursement revenue, which is comprised of additional amounts collected from tenants for the recovery of certain operating expenses, including repair and maintenance, property taxes (excluding taxes charged to the owner but paid by a tenant directly to the taxing authority) and insurance, and capital expenditures, to the extent allowed pursuant to the lease (collectively, “Recoverable Expenses”), is recognized as revenue when the additional rent is due. Recoverable Expenses to be reimbursed by a tenant are determined based on the Company's estimate of the property's operating expenses for the year, pro-rated based on leased square footage of the property, and are collected in equal installments as additional rent from the tenant, pursuant to the terms of the lease. At the end of each quarter, the Company reconciles the amount of additional rent paid by the tenant during the quarter to the actual amount of the Recoverable Expenses incurred by the Company for the same period. As required by the applicable lease, the difference, if any, is either charged or credited to the tenant pursuant to the provisions of such lease. In certain instances, the lease may restrict the amount the Company can recover from the tenant, such as a cap on certain or all property operating expenses. In a situation in which a lease associated with a significant tenant has been, or is expected to be, terminated early, or extended, the Company evaluates the remaining useful life of amortizable assets in the asset group related to the lease that will be terminated (i.e. above- and below-market lease intangibles, in-place lease value and deferred leasing costs). Based upon consideration of the facts and circumstances surrounding the termination or extension, the Company may write-off or accelerate the amortization associated with the asset group. Such amounts are included within rental and other income for above- and below-market lease intangibles and amortization for the remaining lease related asset groups in the consolidated statements of operations. Lease Accounting On January 1, 2019, the Company adopted ASC 842 using the modified retrospective approach and elected to apply the provisions as of the date of adoption on a prospective basis. Upon adoption of ASC 842, the Company elected the “package of practical expedients,” which allowed the Company to not reassess (a) whether expired or existing contracts as of January 1, 2019 are or contain leases, (b) the lease classification for any expired or existing leases as of January 1, 2019, and (c) the treatment of initial direct costs relating to any existing leases as of January 1, 2019. The package of practical expedients was made as a single election and was consistently applied to all leases that commenced before January 1, 2019. Lessor ASC 842 requires lessors to account for leases using an approach that is substantially equivalent to ASC 840 for sales-type leases, direct financing leases, and operating leases. As the Company elected the package of practical expedients, the Company's existing leases as of January 1, 2019 continue to be accounted for as operating leases. Upon adoption of ASC 842, the Company elected the practical expedient permitting lessors to elect by class of underlying asset to not separate nonlease components (for example, maintenance services, including common area maintenance) from associated lease components (the “non-separation practical expedient”) if both of the following criteria are met: (1) the timing and pattern of transfer of the lease and non-lease component(s) are the same and (2) the lease component would be classified as an operating lease if it were accounted for separately. If both criteria are met, the combined component is accounted for in accordance with ASC 842 if the lease component is the predominant component of the combined component; otherwise, the combined component is accounted for in accordance with the revenue recognition standard. The Company assessed the criteria above with respect to the Company's operating leases and determined that they qualify for the non-separation practical expedient. As a result, the Company accounted for and presented all rental income earned pursuant to operating leases, including property expense recovery, as a single line item, “Rental income,” in the consolidated statement of operations for all periods presented. Prior to the adoption of ASC 842, the Company presented rental income, property expense recovery and other income related to leases separately in the Company's consolidated statements of operations. Under ASC 842, lessors are required to record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed by a lessee. Conversely, lessors are required to record revenues and expenses on a net basis for lessor costs when they are paid by a lessee directly to a third party on behalf of the lessor. Prior to the adoption of ASC 842, the Company recorded revenues and expenses on a gross basis for real estate taxes whether they were reimbursed to the Company by a tenant or paid directly by a tenant to the taxing authorities on the Company's behalf. Effective January 1, 2019, the Company is recording these costs in accordance with ASC 842. Lessee ASC 842 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset (“ROU asset”), which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASC 842 also requires lessees to classify leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification is used to evaluate whether the lease expense should be recognized based on an effective interest method or on a straight-line basis over the term of the lease. On January 1, 2019, the Company was the lessee on two ground leases, which were classified as operating leases under ASC 840. As the Company elected the packages of practical expedients, the Company is not required to reassess the classification of these existing leases and, as such, these leases continue to be accounted for as operating leases. On January 1, 2019, the Company recognized ROU assets and lease liabilities for these leases on the Company's consolidated balance sheets, and on a go-forward basis, lease expense will be recognized on a straight-line basis over the remaining term of the lease. On January 1, 2019, the Company recorded a ROU asset of $25.5 million and a corresponding liability of approximately $27.6 million relating to the Company's existing ground lease arrangements. These operating leases were recognized based on the present value of the future minimum lease payments over the lease term. As these leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available in determining the present value of future payments. The discount rate used to determine the present value of these operating leases’ future payments was 5.36%. There was no impact to beginning equity as a result of the adoption related to the lessee accounting as the difference between the asset and liability is attributed to derecognition of pre-existing straight-line rent balances. Upon adoption of ASC 842, the Company also elected the practical expedient to not separate non-lease components, such as common area maintenance, from associated lease components for the Company's ground and office space leases. Derivative Instruments and Hedging Activities ASC 815, Derivatives and Hedging (“ASC 815”) provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, ASC 815 requires qualitative disclosures regarding the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company recorded all derivatives on the consolidated balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. See Note 6, Interest Rate Contracts , for more detail. Change in Consolidated Financial Statements Presentation Certain amounts in the prior period consolidated financial statements have been reclassified to conform to the current period presentation. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code (“Code”). To qualify as a REIT, the Company must meet certain organizational and operational requirements. The Company intends to adhere to these requirements and maintain its REIT status for the current year and subsequent years. As a REIT, the Company generally will not be subject to federal income taxes on taxable income that is distributed to shareholders. However, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed taxable income, if any. If the Company fails to qualify as a REIT in any taxable year, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service (“IRS”) grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available to pay dividends to shareholders. As of December 31, 2023, the Company satisfied the REIT requirements and distributed all of its taxable income. Pursuant to the Code, the Company has elected to treat its corporate subsidiary as a taxable REIT subsidiary (“TRS”). In general, the TRS may perform non-customary services for the Company’s tenants and may engage in any real estate or non-real estate-related business. The TRS will be subject to corporate federal and state income tax. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Per Share Data The Company reports earnings per share for the period as (1) basic earnings per share computed by dividing net income (loss) attributable to common shareholders by the weighted average number of common shares outstanding during the period, and (2) diluted earnings per share computed by dividing net income (loss) attributable to common shareholders by the weighted average number of outstanding common shares determined in the basic earnings per share computation plus the potential effect of any dilutive securities. For the years ended December 31, 2023 and December 2022, using the treasury stock method, OP Units and unvested time-based restricted share units were excluded from our calculation of weighted average common shares outstanding for the purposes of reporting diluted earnings per share, as the inclusion would have been anti-dilutive for those years. For the year ended December 31, 2021, using the treasury stock method, only unvested time-based restricted share units had an anti-dilutive effect and, as such, were excluded from our calculation of weighted common shares outstanding for the purposes of reporting diluted earnings per share. Total excluded shares were 3,609,178, 3,685,318, and 16,671 for the years ended December 31, 2023, 2022, and 2021, respectively. Segment Information The Company has three reportable segments: Industrial, Office, and Other. The Industrial segment consists of high-quality, well-located industrial properties with modern specifications. The Office segment includes newer, high-quality office properties. The Other segment consists of vacant and non-core properties, together with other properties in the same cross-collateralized loan pools. See Note 14, Segment Reporting , for details regarding each of the Company’s segments. Unaudited Data Any references to the number of buildings, square footage, number of leases, occupancy, and any amounts derived from these values in the notes to the consolidated financial statements are unaudited and outside the scope of the Company's independent registered public accounting firm's audit of its consolidated financial statements in accordance with the standards of the Public Company Accounting Oversight Board (“PCAOB”). Recently Issued Accounting Pronouncements Changes to GAAP are established by the FASB in the form of an Accounting Standards Update (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not recently issued any other ASUs that the Company expects to be applicable and have a material impact on the Company's financial statements. Adoption of New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides temporary optional guidance that provides transition relief for reference rate reform, including optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform if certain criteria are met. ASU 2020-04 was effective upon issuance, and the provisions generally can be applied prospectively as of January 1, 2020 through December 31, 2023. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash f

Real Estate

Real Estate	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Real Estate	Real Estate The following table summarizes the Company’s gross investment in real estate as of: December 31, 2023 December 31, 2022 Land $ 231,175 $ 327,408 Building and improvements 1,968,314 2,631,965 Tenant origination and absorption cost 402,251 535,889 Construction in progress 8,371 1,994 Total real estate $ 2,610,111 $ 3,497,256 Depreciation expense for buildings and improvements for the years ended December 31, 2023, 2022, and 2021 was $72.3 million, $113.2 million, and $125.4 million, respectively. Amortization expense for intangibles, including but not limited to, tenant origination and absorption costs for the years ended December 31, 2023, 2022, and 2021 was $39.9 million, $77.6 million, and $84.2 million respectively. Acquisitions of Real Estate The Company had no acquisitions of real estate during the years ended December 31, 2023 and December 31, 2022, respectively. Dispositions of Real Estate For the year ended December 31, 2023, the Company sold eleven properties for gross disposition proceeds of approximately $335.9 million. The Company recognized a net gain of approximately $29.2 million, detailed in the table below: Sale Date Segment Location Gross Proceeds Gain (Loss) Three Months Ended March 31, 2023 January 6, 2023 Industrial Irvine, CA $ 40,000 $ 18,690 February 16, 2023 Industrial Clinton, SC 19,300 7,109 March 2, 2023 Office Herndon, VA 110,300 4,811 Total 169,600 30,610 April 13, 2023 Listing Date Three Months Ended June 30, 2023 May 9, 2023 Other Lone Tree, CO 5,600 (275) May 15, 2023 Office Houston, TX 62,300 (5,024) June 8, 2023 Other Greenwood Village, CO 5,000 (5,228) June 30, 2023 Office Andover, MA 23,700 122 June 30, 2023 Office Andover, MA 34,200 704 Total 130,800 (9,701) Three Months Ended September 30, 2023 August 16, 2023 Other Rancho Cordova, CA 8,300 3,748 Total 8,300 3,748 Three Months Ended December 31, 2023 December 15, 2023 Other Houston, TX 5,825 2,014 December 20, 2023 Office Tyler, TX 21,400 1 2,493 Total 27,225 4,507 Total for the Year Ended December 31, 2023 $ 335,925 $ 29,164 (1) The gross proceeds amount of $21.4 million is inclusive of a lease termination fee received in conjunction with the sale. Real Estate Impairments During the year ended December 31, 2023, in connection with the preparation and review of the financial statements, the Company recorded a real estate impairment provision of approximately $409.5 million on seventeen properties, consisting of nine Office segment properties for $208.3 million and eight Other segment properties for $201.2 million. The impaired properties are located in the Southwest, Northeast, Midwest, West, and Southeast regions of the United States. This impairment resulted from changes during the year related to anticipated hold periods, estimated selling prices and potential vacancies that impacted the recoverability of these assets. In determining the fair value of the properties, the Company considered Level 3 inputs. See Note 8, Fair Value Measurements , for details. Real Estate and Acquired Lease Intangibles The following table summarizes the Company’s allocation of acquired and contributed real estate asset value to in-place lease valuation, tenant origination and absorption cost, and other intangibles, net of the write-off of intangibles for the years ended December 31, 2023 and 2022: December 31, 2023 2022 In-place lease valuation (above market) $ 22,759 $ 28,619 In-place lease valuation (above market) - accumulated amortization (16,616) (19,799) In-place lease valuation (above market), net 6,143 8,820 Intangibles - other 32,028 32,028 Intangibles - other - accumulated amortization (8,481) (6,987) Intangibles - other, net 23,547 25,041 Intangible assets, net $ 29,690 $ 33,861 In-place lease valuation (below market) $ (42,534) $ (48,686) Land leasehold interest (above market) (3,072) (3,072) In-place lease valuation & land leasehold interest - accumulated amortization 29,770 31,358 Intangibles - other (above market) (187) (258) Intangible liabilities, net $ (16,023) $ (20,658) Tenant origination and absorption cost $ 402,251 $ 535,889 Tenant origination and absorption cost - accumulated amortization (221,786) (282,383) Tenant origination and absorption cost, net $ 180,465 $ 253,506 The intangible assets are amortized over the remaining lease term of each property, which on a weighted-average basis, was approximately 6.5 years and 7.1 years as of December 31, 2023 and 2022, respectively. The amortization of the intangible assets and other leasing costs for the respective periods is as follows: Amortization (income) expense for the Year Ended December 31, 2023 2022 2021 Above and below market leases, net $ (1,239) $ (2,205) $ (1,323) Tenant origination and absorption cost $ 38,305 $ 73,172 $ 78,389 Ground leasehold amortization (below market) $ (388) $ (372) $ (349) Other leasing costs amortization $ 2,013 $ 4,754 $ 6,209 The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, net, tenant origination and absorption costs, ground leasehold interest, and other leasing costs as of December 31, 2023 for the next five years: Year In-place lease valuation, net Tenant origination and absorption costs Ground leasehold interest Other leasing costs 2024 $ (1,169) $ 29,107 $ (318) $ 2,230 2025 $ (1,165) $ 26,012 $ (317) $ 2,491 2026 $ (1,073) $ 24,872 $ (317) $ 2,442 2027 $ (829) $ 23,199 $ (317) $ 2,261 2028 $ (644) $ 19,657 $ (318) $ 2,126 Real Estate Held for Sale As of December 31, 2023, two properties met the criteria for classification as held for sale as follows: (i) in our Other segment, one property located in Jefferson City, Missouri, where the tenant exercised its fixed-price purchase option to acquire the property; and (ii) in our Office segment, one property located in Johnston, Iowa, where an affiliate of the existing tenant agreed to purchase the asset (note that this sale closed subsequent to year-end, see Note 16, Subsequent Events , for further details). The following summary presents the major components of assets and liabilities related to the real estate properties held for sale as of December 31, 2023: ASSETS As of December 31, 2023 Land $ 10,091 Building and improvements 42,678 Tenant origination and absorption cost 11,519 Total real estate 64,288 Less: accumulated depreciation (14,636) Total real estate, net 49,652 Intangible assets, net 144 Deferred rent 407 Other assets, net 8 Total real estate and other assets held for sale $ 50,211 LIABILITIES Intangible liabilities, net $ 21 Accrued expenses and other liabilities 518 Liabilities of real estate assets held for sale $ 539

Investments in Unconsolidated E

Investments in Unconsolidated Entities	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Investments in Unconsolidated Entities	Investments in Unconsolidated Entities Office Joint Venture On August 26, 2022, the Company completed the sale of a majority interest in a 41-property office portfolio (the “Initial JV Office Portfolio”) for a sale price of approximately $1.1 billion. On December 27, 2022, the Company completed a companion sale of a majority interest in a five-property office portfolio (“Companion JV Office Portfolio”, and together with the Initial JV Office Portfolio, the “JV Office Portfolio”) for a sale price of approximately $170.4 million. In connection with the sale of the JV Office Portfolio, the Company, through its subsidiary GRT VAO OP, LLC (“GRT VAO Sub”), invested a combined $184.2 million for a 49% interest in a joint venture (the “Office Joint Venture”), through which it owns indirectly an approximate 49% interest in the JV Office Portfolio. The Office Joint Venture is managed and accounted for by RVMC Capital LLC, an affiliate of Workspace Property Trust (the “Managing Member”). The Managing Member of the Office Joint Venture has general authority to manage the operations of the Office Joint Venture. The Managing Member also has day-to-day management authority over the Office Joint Venture, subject to certain major decision rights held by another minority interest holder. The Managing Member may be removed from its management positions upon the occurrence of specified events. GRT VAO Sub has approval rights over certain major decisions regarding actions by the Office Joint Venture, including certain fundamental decisions that the Office Joint Venture may approve. GRT VAO Sub’s obligation is generally limited to its initial contribution. GRT VAO Sub is not obligated to make any additional capital contributions beyond its initial capital contribution. The Office Joint Venture, through various subsidiary borrowers, obtained acquisition financing for the Initial JV Office Portfolio comprised of (a) a $736.0 million mortgage loan (the “Initial JV Office Mortgage Loan”), and (b) a $194.8 million mezzanine loan (the “JV Office Mezzanine Loan”, and together with the JV Office Initial Mortgage Loan, the “Initial Office JV Loans”). The initial maturity date of the Initial Office JV Loans was September 9, 2023, subject to two, one-year extension options. The interest rates during the initial term of the Initial JV Office Mortgage Loan and the JV Office Mezzanine Loan were Term SOFR (1-month) (with a 3% interest rate cap on SOFR) + 3.635% (subject to a 0.25% increase during each extension term) and Term SOFR (1-month) with a 3% interest rate cap on SOFR + 6.574% (subject to a 0.25% increase during each extension term), respectively. The Office Joint Venture paid approximately $6.7 million for the interest rate caps. During the quarter ended September 30, 2023, the Office Joint Venture exercised the first of two one-year extension options, extending the maturity date of the Initial Office JV Loans to September 9, 2024. The interest rates during the one-year extension terms of the Initial JV Office Mortgage Loan and the JV Office Mezzanine Loan are Term SOFR (1-month) (with a 4.4% interest rate cap on SOFR) + 3.885% and Term SOFR (1-month) + 6.824%, respectively. The Office Joint Venture paid approximately $9.6 million for the interest rate caps and funded a portion of the purchase by calling capital from its members (the “Capital Call”). GRT VAO Sub’s portion of the Capital Call was approximately $2.0 million. GRT VAO Sub is not obligated to and did not fund any amount of the Capital Call. In accordance with the Office Joint Venture’s governing documents, another member of the Office Joint Venture (the “Funding Member”) made an interest bearing loan to GRT VAO Sub in the principal amount of GRT VAO Sub’s portion of the Capital Call (the “Shortfall Loan”), the proceeds of which Shortfall Loan were used to fund GRT VAO Sub’s portion of the Capital Call. The Shortfall Loan is non-recourse to GRT VAO Sub and its affiliates and shall be repaid to the Funding Member solely out of (i) any distributions to which GRT VAO Sub is otherwise entitled under the Office Joint Venture’s governing documents and (ii) the proceeds from certain transfers which results in GRT VAO Sub and its affiliates no longer owning a direct or indirect equity interest in the Office Joint Venture. The Office Joint Venture, through various subsidiary borrowers, also obtained acquisition financing for the Companion JV Office Portfolio, comprised of a $142.1 million mortgage loan, having a maturity date of January 6, 2025 (subject to a one-year extension option), and an interest rate during the initial term of Term SOFR (1-month with a 4% interest rate cap on SOFR) + 4.50% (subject to a 0.25% increase during each extension term) (the “Companion Office JV Loan”, and together with the Initial Office JV Loans, the “Office JV Loans”). The Company has not guaranteed any debt obligations and has not otherwise committed to providing financial support in respect of the Office JV Loans. In addition, the Company does not anticipate receiving any near-term cash flow distributions from the assets that are part of the JV Office Portfolio. Considering the Company’s limited economic exposure to the Office Joint Venture, the Company excludes interests in the assets in the Office Joint Venture from operating data. The interests discussed above are deemed to be variable interests in variable interest entities (“VIE”) and based on an evaluation of the variable interests against the criteria for consolidation, the Company determined that it is not the primary beneficiary of the investment, as the Company does not have power to direct the activities of the entities that most significantly affect their performance. As such, the interest in the VIE is recorded using the equity method of accounting in the accompanying consolidated financial statements. Under the equity method, the investments in the unconsolidated entities are stated at cost and adjusted for the Company’s share of net earnings or losses and reduced by distributions. Equity in earnings of real estate ventures is generally recognized based on the allocation of cash distributions upon liquidation of the investment at book value in accordance with the operating agreements. The Company records the net earnings or losses on investment on a one quarter lag. The Company's maximum exposure to losses associated with its unconsolidated investments is primarily limited to its initial contribution in the investments. Impairment of Investment in Office Joint Venture During the three months ended September 30, 2023, the Company recorded an OTTI of approximately $129.3 million for its investment in the Office Joint Venture, which represents a complete write-off of the Company’s remaining investment balance. The impairment resulted from a decline in the fair value of the investment primarily due to increased future loan extension risk impacting the Company’s expectations on the recoverability of the investment. The impairment was recorded to “Net loss from investment in unconsolidated entity” on the consolidated statement of operations. Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. Summary of Investment in Office Joint Venture The table below summarizes the Company’s investment in the unconsolidated Office Joint Venture, which the Company determined is related to corporate activities and is excluded from its segment reporting: Office Joint Venture Investment in Office Joint Venture Balance at December 31, 2022 $ 178,647 Contributions (1) 1,960 Shortfall Loan (1) (1,960) Company’s share of net loss (3) (48,659) Company’s share of other comprehensive loss (654) Impairment provision (2) (129,334) Balance at December 31, 2023 $ — (1) Amounts represent the deemed contribution and related Shortfall Loan between the Company’s subsidiary, GRT VAO Sub, and the Funding Member of the Office Joint Venture for the Capital Call. Refer to details above. (2) Amount represents the impairment of the Company’s investment in the Office Joint Venture of $129.3 million. As of September 30, 2023, the Company also had a cumulative proportionate share of the Office Joint Venture’s accumulated other comprehensive income (“AOCI”) of $1.2 million, which was also written off in conjunction with the investment balance being impaired to zero. The write-off of the AOCI resulted in recognition of income, which was also recorded to “Net loss from investment in unconsolidated entity” for a total net loss of $128.1 million during the period. (3) The Company’s share of net loss of $48.7 million relates to the Office Joint Ventures’s activity from September 1, 2022 through June 30, 2023 (reported as of September 30, 2023, due to the recording of the Office Joint Venture’s activity on a one quarter lag). Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents the condensed balance sheet for the unconsolidated Office Joint Venture: December 31, 2023 (1)(3) December 31, 2022 (2) Assets Real estate properties, net $ 1,092,312 $ 981,354 Other assets 299,045 240,447 Total Assets $ 1,391,357 $ 1,221,801 Liabilities Mortgages payable, net $ 1,067,005 $ 856,765 Other liabilities 92,919 52,018 Total Liabilities $ 1,159,924 $ 908,783 (1) Amounts are as of September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2) Amounts are as of September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3) Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents condensed statements of operations of the unconsolidated Office Joint Venture: Year Ended December 31, 2023 (1) 2022 (2) Total revenues $ 195,193 $ 16,500 Expenses: Operating expenses (67,438) (5,550) General and administrative (7,210) (500) Depreciation and amortization (68,829) (9,476) Interest expense (190,350) (15,735) Other expenses, net 7,519 (387) Total Expenses (326,308) (31,648) Net Loss (3) $ (131,115) $ (15,148) (1) Amounts represent the period of October 1, 2022 to September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2) Amounts represent the period of ownership from August 26, 2022 to September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3) Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses.

Debt

Debt	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Debt	Debt As of December 31, 2023 and 2022, the Company’s consolidated debt consisted of the following: December 31, Contractual Interest Rate (1) Loan Maturity (2) Effective Interest Rate (3) 2023 2022 Highway 94 Mortgage Loan $ 11,709 $ 12,740 3.75% August 2024 5.06% Pepsi Bottling Ventures Loan 17,439 17,836 3.69% October 2024 3.93% AIG Loan II 119,953 122,328 4.15% November 2025 5.06% BOA II Loan 250,000 250,000 4.32% May 2028 4.14% AIG Loan 92,444 99,794 4.96% February 2029 5.10% HealthSpring Mortgage Loan — 19,107 —% (4) — —% Samsonite Loan — 17,998 —% (5) — —% Total Mortgage Debt 491,545 539,803 Revolving Loan 400,000 — SOF Rate + 1.30% (6) January 2026 (8) 7.01% 2025 Term Loan 400,000 400,000 SOF Rate + 1.25% (6) December 2025 6.92% 2026 Term Loan 150,000 150,000 SOF Rate + 1.25% (6) April 2026 6.76% 2024 Term Loan — 400,000 —% (7) — —% Total Debt 1,441,545 1,489,803 Unamortized Deferred Financing Costs and Discounts, net (5,622) (4,401) Total Debt, net $ 1,435,923 $ 1,485,402 (1) Including the effect of the interest rate swap agreements with a total notional amount of $750.0 million the weighted average interest rate as of December 31, 2023 was 4.16% for both the Company’s fixed-rate and variable-rate debt combined and 3.73% for the Company’s fixed-rate debt only. (2) Reflects the loan maturity as of December 31, 2023. (3) Reflects the effective interest rate as of December 31, 2023 and includes the effect of amortization of discounts/premiums and deferred financing costs, but excludes the effect of the interest rate swaps. (4) HealthSpring Mortgage Loan was paid off in full March 2023 and had a contractual interest rate of 4.18%. (5) Samsonite Mortgage Loan was paid off in full in September 2023 and had a contractual interest rate of 6.08%. (6) The applicable SOFR as of December 31, 2023 (assuming a five day look-back per the credit facility agreement) was 5.38%, which excludes a 0.1% per annum index adjustment as required per the Fifth Amendment to the Second Amended and Restated Credit Agreement. (7) 2024 Term Loan was paid off in full in March 2023 using proceeds from the Revolving Loan, and had a contractual interest rate of SOFR + 1.40%. (8) As of December 31, 2023, the Revolving Credit Facility has a maturity date of March 30, 2024 with two additional extension options to January 31, 2026. See discussion below. Second Amended and Restated Credit Agreement Pursuant to the Second Amended and Restated Credit Agreement dated as of April 30, 2019 (as amended by the First Amendment to the Second Amended and Restated Credit Agreement dated as of October 1, 2020 (the “First Amendment”), the Second Amendment to the Second Amended and Restated Credit Agreement dated as of December 18, 2020 (the “Second Amendment”), the Third Amendment to the Second Amended and Restated Credit Agreement dated as of July 14, 2021 (the “Third Amendment”), the Fourth Amendment to the Second Amended and Restated Credit Agreement dated as of April 28, 2022 (the “Fourth Amendment”), the Fifth Amendment to the Second Amended and Restated Credit Agreement dated as of September 28, 2022 (the “Fifth Amendment”), the Sixth Amendment to the Second Amended and Restated Credit Agreement dated as of November 30, 2022 (the “Sixth Amendment”), and the Seventh Amendment to the Amended and Restated Credit Agreement dated as of March 21, 2023 (the “Seventh Amendment”), and together with the First Amendment, the Second Amendment, the Third Amendment, the Fourth Amendment, the Fifth Amendment, and the Sixth Amendment, the “Second Amended and Restated Credit Agreement”), with KeyBank National Association (“KeyBank”) as administrative agent, and a syndicate of lenders, the Operating Partnership, as the borrower, has been provided with a $1.3 billion credit facility consisting of (i) a $750.0 million senior unsecured revolving credit facility (the “Revolving Credit Facility”), under which the Company has drawn $400.0 million (the “Revolving Loan”), maturing on March 30, 2024 (with two extension options to January 31, 2026, subject to the satisfaction of certain customary conditions, the first of which the Company exercised subsequent to year-end as described below), (ii) a $400.0 million senior unsecured term loan maturing in December 2025 (the “$400M 2025 5-Year Term Loan”), and (iii) a $150.0 million senior unsecured term loan maturing in April 2026 (the “$150M 2026 7-Year Term Loan”) and together with the Revolving Credit Facility and the $400M 2025 5-Year Term Loan, the “KeyBank Loans”). The Second Amended and Restated Credit Agreement also provides the option, subject to obtaining additional commitments from lenders and certain other customary conditions, to increase the commitments under the Revolving Credit Facility, to increase the existing term loans and/or incur new term loans by up to an additional $1.0 billion in the aggregate. As of December 31, 2023, the available undrawn capacity under the Revolving Credit Facility was $159.1 million. As of December 31, 2023, the Revolving Loan Maturity Date (as defined in the Second Amended and Restated Credit Agreement) was March 30, 2024. On February 12, 2024, the Company exercised an option to extend the Revolving Loan Maturity Date, which upon satisfaction or waiver of certain customary conditions, will extend to June 30, 2024. AIG Debt Amendment The Company’s subsidiaries previously entered into two non-recourse portfolio mortgage loans (the “AIG Loans”) with affiliates of AIG Insurance (“AIG”). All of the mortgaged properties under the AIG Loans constitute Other segment properties of the Company. On December 22, 2023, the Company and AIG entered into an agreement that is intended to facilitate the disposition of the mortgaged properties under the AIG Loans, without regard to the original release prices, and support the repayment of both AIG Loans. The agreement did not result in any changes to the loan amounts, interest rate or term. Debt Covenant Compliance Pursuant to the terms of the Company's mortgage loans and the KeyBank Loans, the Operating Partnership, in consolidation with the Company, is subject to certain loan compliance covenants. The Company was in compliance with all of its debt covenants as of December 31, 2023. The following summarizes the future scheduled principal repayments of all loans as of December 31, 2023 per the loan terms discussed above: As of December 31, 2023 2024 $ 34,181 2025 520,175 2026 552,834 2027 2,978 2028 253,129 Thereafter 78,248 Total principal 1,441,545 Unamortized debt premium/(discount) 657 Unamortized deferred loan costs (6,279) Total $ 1,435,923

Interest Rate Contracts

Interest Rate Contracts	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Interest Rate Contracts	Interest Rate Contracts Risk Management Objective of Using Derivatives The Company is exposed to certain risks arising from both business operations and economic conditions. The Company manages economic risks, including interest rate, liquidity, and credit risk primarily by managing the amount, sources, and duration of debt funding and the use of derivative financial instruments. Specifically, the Company enters into interest rate swap agreements (collectively, “Interest Rate Swaps”) to manage exposures that arise from business activities that result in the payment of future known and uncertain cash amounts, the values of which are determined by expected cash payments principally related to borrowings and interest rates. Interest Rate Swaps designated as cash flow hedges involve the receipt of variable amounts from a counterparty in exchange for making fixed-rate payments over the life of the agreements without exchange of the underlying notional amount. The Company does not use derivatives for trading or speculative purposes. Derivative Instruments The Company entered into the Interest Rate Swaps to hedge the variable cash flows associated with its variable-rate debt, including the KeyBank Loans. The Interest Rate Swaps are cross-defaulted to other indebtedness of the Operating Partnership, if that indebtedness exceeds certain thresholds. The change in the fair value of the Interest Rate Swaps designated and qualifying as cash flow hedges is initially recorded in accumulated other comprehensive income (“AOCI”) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. Amounts reported in AOCI related to Interest Rate Swaps will be reclassified to interest expense as interest payments are made on the Company's variable-rate debt. The following table sets forth a summary of the Interest Rate Swaps at December 31, 2023 and 2022: Fair Value (1) Current Notional Amounts December 31, December 31, Derivative Instrument Effective Date Maturity Date Interest Strike Rate 2023 2022 2023 2022 Assets/(Liabilities) Interest Rate Swap 3/10/2020 7/1/2025 0.83% $ 7,891 $ 12,391 $ 150,000 $ 150,000 Interest Rate Swap 3/10/2020 7/1/2025 0.84% 5,250 8,244 100,000 100,000 Interest Rate Swap 3/10/2020 7/1/2025 0.86% 3,915 6,145 75,000 75,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% 2,924 4,331 125,000 125,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% 2,331 3,444 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.83% 2,327 3,441 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.84% 2,304 3,408 100,000 100,000 Total $ 26,942 $ 41,404 $ 750,000 $ 750,000 (1) The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of December 31, 2023, derivatives in a liability position are included in an asset or liability position are included in the line item “Other assets or Interest rate swap liability,” respectively, in the consolidated balance sheets at fair value. The SOFR rate as of December 31, 2023 (effective date) was 5.46%. The following table sets forth the impact of the Interest Rate Swaps on the consolidated statements of operations for the periods presented: Year Ended December 31, 2023 2022 2021 Interest Rate Swaps in Cash Flow Hedging Relationship: Amount of (loss) gain recognized in AOCI on derivatives $ (9,295) $ 61,126 $ (18,165) Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense” $ 23,630 $ (2,056) $ (14,284) Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 65,623 $ 84,816 $ 85,087 During the twelve months subsequent to December 31, 2023, the Company estimates that an additional $26.9 million of its income will be recognized from AOCI into earnings. As of December 31, 2023 and 2022, there were no Interest Rate Swaps in a liability position. As of December 31, 2023 and December 31, 2022, the Company had not posted any collateral related to these agreements.

Accrued Expenses and Other Liab

Accrued Expenses and Other Liabilities	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Accrued Expenses and Other Liabilities	Accrued Expenses and Other Liabilities Accrued expenses and other liabilities consisted of the following as of December 31, 2023 and 2022: December 31, 2023 2022 Interest payable $ 17,073 $ 13,654 Prepaid tenant rent 9,710 12,399 Deferred compensation 9,661 8,913 Property operating expense payable 4,469 7,960 Real estate taxes payable 5,165 6,296 Redemptions payable — 4,383 Accrued construction in progress 1,183 35 Accrued tenant improvements 551 620 Other liabilities 30,417 26,542 Total $ 78,229 $ 80,802

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company is required to disclose fair value information about all financial instruments, for which it is practicable to estimate fair value, whether or not recognized in the consolidated balance sheets. The Company measures and discloses the estimated fair value of financial assets and liabilities utilizing a fair value hierarchy that distinguishes between data obtained from sources independent of the reporting entity and the reporting entity’s own assumptions about market participant assumptions. This hierarchy consists of three broad levels, as follows: (i) quoted prices in active markets for identical assets or liabilities, (ii) “significant other observable inputs,” and (iii) “significant unobservable inputs.” “Significant other observable inputs” can include quoted prices for similar assets or liabilities in active markets, as well as inputs that are observable for the asset or liability, such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. “Significant unobservable inputs” are typically based on an entity’s own assumptions, since there is little, if any, related market activity. In instances in which the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level of input that is significant to the fair value measurement in its entirety. The Company's assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability. There were no transfers between the levels in the fair value hierarchy during the years ended December 31, 2023 and 2022. Recurring Measurements The following table sets forth the assets and liabilities that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 and 2022: Assets/(Liabilities) Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2023 Interest Rate Swap Asset $ 26,942 $ — $ 26,942 $ — Mutual Funds Asset $ 7,148 $ 7,148 $ — $ — December 31, 2022 Interest Rate Swap Asset $ 41,404 $ — $ 41,404 $ — Mutual Funds Asset $ 6,191 $ 6,191 $ — $ — Nonrecurring Measurement - Real Estate Impairment For the year ended December 31, 2023, in connection with the preparation and review of the Company’s financial statements, the Company recorded a real estate impairment provision of approximately $409.5 million on seventeen properties, consisting of nine Office segment properties for $208.3 million and eight Other segment properties for $201.2 million, located in the Southwest, Northeast, Midwest, West, and Southeast regions of the United States. The impairment resulted from changes in the second quarter related to anticipated hold periods, expected selling prices, and potential vacancies that impacted the recoverability of these assets. The following table is a summary of the quantitative fair value information for thirteen properties using the discounted cash flow approach, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs or Input Unobservable Inputs Southwest Northeast West Southeast Market rent per square foot $16.00 - $27.00 $15.00 - $30.00 $21.00 $14.00 Discount rate 8.50% - 15.00% 8.00% - 15.00% 9.00% 15.00% Terminal capitalization rate 8.00% - 10.50% 6.50% - 9.00% 8.50% 9.00% The following table is a summary of the quantitative fair value information for four properties using estimated selling prices based on quoted market values and comparable property sales, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Southwest Northeast West Midwest Estimated selling price (per square foot) $235.00 $227.00 $30.00 $158.00 Anticipated hold period One One One One Nonrecurring Measurement - Goodwill Impairment As a result of the qualitative and quantitative assessment as of October 1, 2023, the Company concluded that it was more likely than not that the fair value of the Other reporting unit was less than the carrying amount. The impairment resulted from a decline in fair value of the underlying properties within the Other reporting unit, particularly as we continue to execute on our strategic disposition plan under current market conditions. Thus, the Company recorded a $16.0 million impairment of goodwill allocated to its Other reporting unit. The following table is a summary of the quantitative fair value information for fifteen properties in the Other reporting unit as of the valuation date using the discounted cash flow approach, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Reporting Unit: Other Market rent per square foot $5.00 - $27.50 Discount rate 7.25% - 15.00% Terminal capitalization rate 6.25% - 9.50% The following table is a summary of the quantitative fair value information for three properties in the Other reporting unit as of the valuation date using estimated selling prices based on quoted market values and comparable property sales, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Reporting Unit: Other Estimated selling price (per square foot) $38.92 - $74.07 The Company also estimated the fair value of the mortgage loans within the goodwill impairment analysis as described in the Financial Instruments Disclosed at Fair Value section below, which values approximated the fair values used in the goodwill impairment analysis. As part of the nonrecurring fair value measurement of mortgage loans within the goodwill impairment analysis, the Company determined that current borrowing rates available to the Company for debt instruments with similar terms and maturities ranged from 3.75% to 8.20%. The Company considered these inputs as Level 2 measurements within the fair value hierarchy. For the remaining assets and liabilities included within the goodwill impairment calculation, the Company determined that amounts within the consolidated financial statements approximated fair value. Nonrecurring Measurement - Investment in Unconsolidated Entity Impairment During the year ended December 31, 2023, the Company recorded an OTTI of approximately $129.3 million for its investment in the Office Joint Venture, which represents a complete write-off of the Company’s remaining investment balance. The impairment resulted from a decline in the fair value of the investment primarily due to increased future loan extension risk impacting the Company’s expectations on the recoverability of the investment. In determining the fair value of the investment in the Office Joint Venture, the Company considered Level 3 inputs based on leasing risks relating to the underlying properties. Financial Instruments at Fair Value Financial instruments as of December 31, 2023 and December 31, 2022 consisted of cash and cash equivalents, restricted cash, accounts receivable, accrued expenses and other liabilities, and mortgage payable and other borrowings, as defined in Note 5, Debt . With the exception of the seven mortgage loans in the table below, the amounts of the financial instruments presented in the consolidated financial statements substantially approximate their fair value as of December 31, 2023 and 2022. The fair value of the seven mortgage loans in the table below is estimated by discounting each loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. The Company determined that the mortgage debt valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt. December 31, 2023 2022 Fair Value Carrying Value (1) Fair Value Carrying Value (1) BOA II Loan $ 220,730 $ 250,000 $ 226,361 $ 250,000 AIG Loan II 115,340 119,953 111,872 122,328 AIG Loan 92,444 92,444 89,526 99,794 Samsonite Mortgage Loan — — 17,998 17,998 HealthSpring Mortgage Loan — — 19,107 19,107 Pepsi Bottling Ventures Mortgage Loan 17,439 17,439 17,014 17,836 Highway 94 Mortgage Loan 11,709 11,709 11,941 12,740 Total $ 457,662 $ 491,545 $ 493,819 $ 539,803 (1) The carrying values do not include the debt premium/(discount) or deferred financing costs as of December 31, 2023 and 2022. See Note 5, Debt , for details.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Equity	Equity Common Equity On April 13, 2023, the Company listed its common shares on the New York Stock Exchange (the “Listing”). On March 10, 2023, the Company completed a one-for-nine reverse share split with respect to each class of its common shares, converting every nine shares of the Company’s issued and outstanding shares of each class into one share of such class (the “Reverse Share Split”). On April 13, 2023, the Company’s common shares, other than Class E, were converted into Class E common shares and all Class E common shares became listed on the New York Stock Exchange as “common shares”. As of December 31, 2023, there were 36,304,145 common shares outstanding. Prior to the Listing, the Company had received aggregate gross offering proceeds of approximately $2.8 billion from the sale of shares in private offerings, public offerings, the DRP (defined below) offerings and mergers (includes offerings by our predecessor, Griffin Capital Essential Asset REIT, Inc. (our “Predecessor”), our Predecessor’s merger with Signature Office REIT, Inc., and our Predecessor’s merger with certain other related entities (the “Predecessor Mergers”) and the acquisition of Cole Office & Industrial REIT (“CCIT II”) in a stock-for-stock transaction (the “CCIT II Merger”). As part of the $2.8 billion from the sale of shares, the Company issued (i) 4,863,623 Class E shares in June 2015 upon the consummation of the merger with Signature Office REIT, Inc., (ii) 19,442,394 Class E shares in April 2019 upon consummation of the Predecessor Mergers in exchange for all outstanding shares of our Predecessor’s common stock at the time of the Predecessor Mergers, and (iii) 10,384,185 Class E shares in exchange for all the outstanding shares of CCIT II's common stock at the time of the CCIT II Merger. ATM Program In August 2023, the Company entered into an at-the-market equity offering (the “ATM”) pursuant to which the Company may sell common shares up to an aggregate purchase price of $200.0 million. The Company may sell such shares in amounts and at times to be determined by the Company from time to time, but the Company has no obligation to sell any of such shares. Actual sales, if any, will depend on a variety of factors to be determined by us from time to time, including, among other things, market conditions, the trading price of the Company’s common shares, and the Company’s determinations of its capital needs and the appropriate sources of funding. During the year ended December 31, 2023, the Company did not sell shares under the ATM program. Distribution Reinvestment Plan Prior to the Listing, the Company had adopted a distribution reinvestment plan (the “DRP”), which allowed shareholders to have dividends and other distributions otherwise distributable to them invested in additional common shares. No sales commissions or dealer manager fees were paid on shares sold through the DRP, but the DRP shares were charged the applicable distribution fee payable with respect to all shares of the applicable class. The purchase price per share under the DRP was equal to the net asset value (“NAV”) per share applicable to the class of shares purchased, calculated using the most recently published NAV available at the time of reinvestment. On May 22, 2023, the Company filed a post-effective amendment to the registration statement for the Company’s DRP to deregister all of the common shares registered for sales that were not sold pursuant to such registration statement. As of December 31, 2023 and 2022, the Company had issued approximately $341.1 million in shares pursuant to the DRP offerings. Share Redemption Program Prior to the Listing, the Company had adopted a share redemption program (the “SRP”) that enabled shareholders to sell their shares to the Company in limited circumstances. The SRP was suspended on October 1, 2021 but resumed on a limited basis (i.e., limited to redemptions in connection with a holder’s death, disability, or incompetence) on August 5, 2022 with quarterly redemptions capped at $5.0 million. In addition, pursuant to the terms of the SRP during any calendar year, with respect to each share class, the Company was permitted to redeem no more than 5% of the weighted-average number of shares of such class outstanding during the prior calendar year. Under the SRP, the Company would redeem shares as of the last business day of each quarter at a price equal to the most recently published NAV per share for the applicable class prior to quarter end. During the year ended December 31, 2023, the Company redeemed 941 shares. The SRP was suspended again on March 7, 2023 and terminated in connection with the Listing. The following table summarizes share redemption activity under the SRP during the years ended December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Common shares redeemed 941 149,730 Weighted average price per share $ 66.87 $ 66.79 (1) Does not include shares withheld (i.e., forfeited) by employees to satisfy minimum statutory tax withholding requirements associated with the vesting of RSUs. Since July 31, 2014 and through December 31, 2023, the Company had redeemed 3,295,618 shares (excluding the Self-Tender Offer) of common shares for approximately $275.5 million at a weighted average price per share of $83.60 pursuant to the SRP. Perpetual Convertible Preferred Shares Prior to the Listing, the Company redeemed all 5,000,000 shares of Series A Cumulative Perpetual Convertible Preferred Shares (the “Series A Preferred Shares”) held by SHBNPP Global Professional Investment Type Private Real Estate Trust No. 13(H) (the “Preferred Holder”) in exchange for a redemption payment of $125.0 million, plus accumulated and unpaid distributions of $2.4 million (the “Preferred Redemption”). The Preferred Holder initially purchased the 5,000,000 Series A Preferred Shares at a price of $25.00 per share pursuant to that certain purchase agreement (the “Purchase Agreement”) that our Predecessor entered into August 8, 2018 with the Preferred Holder (acting through Kookmin Bank as trustee) and Shinhan BNP Paribas Asset Management Corporation, as an asset manager of the Preferred Holder. On April 10, 2023, the Company entered into a Redemption Agreement (the “Redemption Agreement”) with the Preferred Holder and Shinhan Asset Management Co., Ltd. Pursuant to the Redemption Agreement, the Company effectuated the Preferred Redemption in accordance with the Articles Supplementary filed by the Company on April 30, 2019 (the “Articles Supplementary”). The Preferred Holder agreed to waive the Redemption Fee (as defined in the Articles Supplementary) in the amount of $1.9 million and any other payments in connection with the Series A Preferred Shares. The Redemption Agreement also terminated the Purchase Agreement and provided that any rights and privileges afforded to the Preferred Holder under the Purchase Agreement were terminated and canceled and of no further force or effect, and no party to the Purchase Agreement has any further obligations thereunder. Additionally, the Company had $5.0 million of capitalized offering costs related to the initial issuance of the preferred shares, which were previously recorded to equity and were written off during the year as a non-cash expense to preferred units redemption charge on the statement of operations. During the year ended December 31, 2023, the Company paid dividends in quarterly arrears at a rate of $2.4 million. As of December 31, 2023, no further distributions to the holders of the Series A Preferred Shares were due in light of the Preferred Redemption. Issuance of Restricted Share Units to Executive Officers, Employees and Board of Trustees On April 5, 2023, the Compensation Committee of the Board approved the Peakstone Realty Trust Second Amended and Restated Employee and Long-Term Incentive Plan (the “Plan”) which amended and restated the Amended and Restated Employee and Trustee Long-Term Incentive Plan (the “Prior Plan”) to (1) change the name of the Prior Plan in connection with the Company’s name change, (2) expressly provide for the grants of profits interests (or “LTIP Units”) in the Operating Partnership and (3) make conforming entity name changes throughout. Otherwise, the Plan contains the same material terms as the Prior Plan. The Plan provides for the grant of share-based awards to the Company’s trustees, full-time employees and certain consultants that provide services to the Company or affiliated entities. Awards granted under the Plan may consist of stock options, restricted shares, share appreciation rights, distribution equivalent rights, LTIP Units, and other equity-based awards. The share-based awards are measured at fair value at issuance and recognized as compensation expense over the vesting period. The maximum number of shares authorized under the Plan is 777,778 shares. As of December 31, 2023, approximately 167,185 shares were available for future issuance under the Plan. As of December 31, 2023, there was $8.2 million of unrecognized compensation expense remaining, which vests between one Total compensation expense related to RSUs for the year ended December 31, 2023 and 2022 was approximately $12.0 million and $9.6 million, respectively. The following table summarizes the activity of unvested shares of RSU awards for the periods presented: Number of Unvested Shares of RSU Awards Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2021 172,602 Granted 123,481 $ 66.87 Forfeited (9,404) $ 80.38 Vested (125,178) $ 77.68 Balance at December 31, 2022 161,501 Granted 166,321 $ 56.53 Forfeited (485) $ 63.70 Vested (1) (167,784) $ 69.02 Balance at December 31, 2023 159,553 (1) Total shares vested include 114,420 common shares withheld (i.e., forfeited) by employees during the year ended December 31, 2023 to satisfy minimum statutory tax withholding requirements associated with the vesting of RSUs. Dividends Earnings and profits, which determine the taxability of dividends paid to shareholders, may differ from income reported for financial reporting purposes due to the differences for federal income tax purposes in the treatment of loss on debt, revenue recognition and compensation expense and in the basis of depreciable assets and estimated useful lives used to compute depreciation expense. The following unaudited table summarizes the federal income tax treatment for all distributions and dividends declared for the years ended December 31, 2023, 2022, and 2021 reported for federal tax purposes and serves as a designation of capital gain distributions, if applicable, pursuant to Code Section 857(b)(3)(C) and Treasury Regulation §1.857-6(e). Year Ended December 31, 2023 2022 2021 Ordinary income — % — % 9 % Capital gain — % — % — % Return of capital 100 % 100 % 91 % Total 100 % 100 % 100 % Dividends declared $ 1.09 $ 3.15 $ 3.15

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Noncontrolling Interests	Noncontrolling Interests Noncontrolling interests are limited partnership interests in the Operating Partnership owned by third parties. As of December 31, 2023, noncontrolling interests constituted approximately 8.2% of total shares and 8.8% of weighted average shares outstanding (both measures assuming OP Units were converted to common shares). Any noncontrolling interest that fails to qualify as permanent equity has been reclassified as temporary equity and adjusted to the greater of (a) the carrying amount or (b) its redemption value as of the end of the period in which the determination is made. As of December 31, 2023, the limited partners of the Operating Partnership owned approximately 3.2 million of OP Units, which were issued to then affiliated parties and unaffiliated third parties in exchange for the contribution of certain properties to the Company and in connection with the Self-Administration Transaction, and approximately 0.02 million OP Units were issued unrelated to property contributions. As of December 31, 2023, all limited partners of the Operating Partnership (see Noncontrolling Interest Subject to Redemption below) have an Exchange Right (as defined below), pursuant to which, if exercised, the Operating Partnership would be required to redeem their OP Units for cash equal to the value of an equivalent number of common shares as calculated pursuant to the limited partnership agreement and applicable contribution agreement (the “Exchange Right”). If a limited partner of the Operating Partnership exercises an Exchange Right, the Company, as a general partner of the Operating Partnership, has the right, in its sole absolute discretion, elect to either (i) purchase the OP units for cash equal to the value of an equivalent number of common shares, as calculated pursuant to the limited partnership agreement and applicable contribution agreement or (ii) purchase such limited partner’s OP Units by issuing common shares of the Company for the original OP Units redeemed pursuant to the limited partnership agreement and applicable contribution agreement, subject to certain transfer and ownership limitations included in the Company’s charter and the limited partnership agreement. The following summarizes the activity for noncontrolling interests recorded as equity for the years ended December 31, 2023 and 2022: December 31, 2023 2022 Beginning balance $ 174,655 $ 218,653 Reclass of noncontrolling interest subject to redemption 10 957 Exchange of noncontrolling interest (27,169) — Reclass of redeemable noncontrolling interest 3,801 — Distributions to noncontrolling interests (2,989) (10,942) Allocated distributions to noncontrolling interests subject to redemption (728) (17) Net loss (54,555) (39,714) Other comprehensive loss (1,396) 5,718 Ending balance $ 91,629 $ 174,655 Noncontrolling interests subject to redemption Prior to the Listing, OP Units issued pursuant to the Will Partners Contribution were not included in permanent equity on the consolidated balance sheets, because the limited partners holding these OP Units could cause the general partner to redeem the OP Units for the cash value, and the Company could not elect to purchase such limited partner’s OP Units by issuing common shares of the Company for the OP Units redeemed. Accordingly, prior to Listing, the general partner of the Operating Partnership did not control these redemptions, these OP Units were presented on the consolidated balance sheets as noncontrolling interest subject to redemption at their redeemable value, and the net income (loss) and distributions attributed to these limited partners are allocated proportionately between common shareholders and other noncontrolling interests that are not considered redeemable. Effective as of the Listing, and subsequently as of December 31, 2023, all OP Units are subject to the same redemption process as all other OP Units (i.e., can be redeemed for cash or, the Company can elect to purchase these OP Units by issuing common shares) as described above. The Company intends to redeem all OP Units for common shares. Redemption of OP units from Self-Administration Transaction In connection with the Self-Administration Transaction, Griffin Capital, LLC (“GC LLC”), an entity controlled by our former Executive Chairman, Kevin A. Shields, and an affiliate of our Predecessor’s sponsor, Griffin Capital Company, LLC “GCC LLC”), received OP units (approximately 2.7 million taking into effect the 9 to 1 reverse split) as consideration in exchange for the sale to our Predecessor of the advisory, asset management and property management business of Griffin Capital Real Estate Company, LLC (n/k/a PKST Management Company, LLC) (“Management Company”). GC LLC assigned approximately 50% of the OP units received in connection with the Self-Administration Transaction to then participants in GC LLC’s long-term incentive plan. Mr. Shields is the plan administrator of such long-term incentive plan. As previously disclosed, certain of our current and former employees and executive officers, including Michael Escalante, our Chief Executive Officer, and Javier Bitar, our Chief Financial Officer and Treasurer, were employed by affiliates of GC LLC prior to the Self-Administration Transaction and are therefore participants in a long-term incentive plan of GC LLC that made grants to such participants in connection with services rendered prior to the Self-Administration Transaction. Participants in GC LLC’s long-term incentive plan, including Messrs. Escalante and Bitar, are entitled to receive distributions from the long-term incentive plan in the form of either cash, common shares, or other property, or a combination thereof, as elected by the plan administrator. The Listing required that certain awards under GC LLC’s long-term incentive plan be settled during the fourth quarter 2023 and in four annual installments thereafter, unless waived or modified . As described above, in connection with the settlement of GC LLC’s long-term incentive plan, the plan administrator may choose to distribute cash, common shares, or other property, or a combination thereof, as elected by the plan administrator. On December 15, 2023, GC LLC elected to redeem 209,954 OP units pursuant to the terms of our Operating Partnership’s operating agreement, and we satisfied such redemption request with our common shares. Following this redemption, GC LLC distributed such common shares to participants in GC LLC’s long-term incentive plan, including 56,266 common shares to Mr. Escalante and his designee and 2,000 common shares to Mr. Bitar. In connection with the aforesaid future installments, if GC LLC elects to redeem additional OP units, we intend to satisfy such redemption request with our common shares. Any future redemption of OP units and distribution of common shares would have no economically dilutive effect on our common shareholders. If the plan administrator elects to redeem the OP units GC LLC received in connection with the Self-Administration Transaction pursuant to the terms of our Operating Partnership’s operating agreement, we intend to satisfy such redemption request with our common shares.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions Summarized below are the related party transaction costs incurred by the Company for the years ended December 31, 2023, 2022 and 2021, respectively, and any related amounts receivable and payable as of December 31, 2023 and 2022: Incurred for the Year Ended December 31, Receivable as of December 31, 2023 2022 2021 2023 2022 Due from GCC Reimbursable Expense Allocation $ — $ — $ 20 $ — $ 11 Payroll/Expense Allocation — 5 19 — 260 Total incurred/receivable $ — $ 5 $ 39 $ — $ 271 Incurred for the Year Ended December 31, Payable as of December 31, 2023 2022 2021 2023 2022 Expensed Costs advanced by the advisor $ 176 $ 705 $ 2,275 $ — $ 67 Consulting fee - shared services 1,153 1,351 2,520 — 522 Assumed through Self- Administration Transaction/Predecessor Mergers Earn-out — — — — 130 Other Distributions 2,954 8,688 8,688 573 739 Total incurred/payable $ 4,283 $ 10,744 $ 13,483 $ 573 $ 1,458 Dealer Manager Agreement Following the Listing, the Company is no longer required to pay any fees under the Dealer Manager Agreement (defined below). Prior to the Listing, the Company entered into a dealer manager agreement and associated form of participating dealer agreement (the “Dealer Manager Agreement”) with the dealer manager for the Follow-On Offering. The terms of the Dealer Manager Agreement are substantially similar to the terms of the dealer manager agreement from the Company's initial public offering (“IPO”), except as it relates to the share classes offered and the fees to be received by the dealer manager. The Follow-On Offering terminated on September 20, 2020. See Note 9, Equity. Subject to the Financial Industry Regulatory Authority, Inc.'s limitations on underwriting compensation, under the Dealer Manager Agreement the Company was required to make payments to the dealer manager of a distribution fee for ongoing services rendered to shareholders by participating broker-dealers or broker-dealers servicing investors’ accounts, referred to as servicing broker-dealers. The fee accrued daily, is paid monthly in arrears, and is calculated based on the average daily NAV for the applicable month. Conflicts of Interest Affiliated Former Dealer Manager Since Griffin Capital Securities, LLC, the Company's former dealer manager, is an affiliate of the Company's former sponsor, the Company did not have the benefit of an independent due diligence review and investigation of the type normally performed by an unaffiliated, independent underwriter in connection with the offering of securities. The Company's former dealer manager is also serving as the dealer manager for Griffin-American Healthcare REIT III, Inc, a publicly-registered, non-traded REIT, and American Healthcare REIT (formerly known as Griffin-American Healthcare REIT IV, Inc), a publicly traded REIT, as wholesale marketing agent for Griffin Institutional Access Real Estate Fund and Griffin Institutional Access Credit Fund both of which are non-diversified, closed-end management investment companies that are operated as interval funds under the 1940 Act, and as dealer manager or master placement agent for various private offerings. Administrative Services Agreement The Company no longer has in place an administrative services agreement. Prior to Listing, and in connection with the Self-Administration Transaction, the Company, Operating Partnership, Predecessor, and Management Company, on the one hand, and GCC LLC and GC LLC, on the other hand, entered into that certain Administrative Services Agreement dated December 14, 2018 (as amended, the “ASA”), pursuant to which GCC LLC and GC LLC provided certain operational and administrative services to the Company at cost. As of October 6, 2023, the ASA is terminated. Under the ASA, the Company paid GCC LLC a monthly amount based on the actual costs anticipated to be incurred by GCC LLC for the provision such of services such items were terminated from the ASA. Such costs were reconciled periodically and a full review of the costs is performed at least annually. In addition, the Company directly paid or reimbursed GCC LLC for the actual cost of any reasonable third-party expenses incurred in connection with the provision of such services. Office Sublease On March 25, 2022, the Company executed a sublease agreement with GCC (the “El Segundo Sublease”) for the building located at 1520 E. Grand Ave, El Segundo, CA (the “Building”) which is the location of the Company’s corporate headquarters and where the Company conducts day-to-day business. The Building is part of a campus that contains other buildings and parking (the “Campus”). The El Segundo Sublease also entitles the Company to use certain common areas on the Campus. Prior to the execution of the El Segundo Sublease, the Company paid GCC rent for the Building as part of the Administrative Services Agreement. The Campus is owned by GCPI, LLC (“GCPI”), and the Building is master leased by GCPI to GCC. GCC is the sublessor under the El Segundo Sublease. The El Segundo Sublease provides for initial monthly base rent of approximately $0.05 million, subject to annual escalations of 3% as well as additional rent for certain operating expenses for the Building and portions of the Campus. The Company’s Executive Chairman is the Chief Executive Officer of and controls GCC and is also affiliated with GCPI. The El Segundo Sublease expires on June 30, 2024. As of December 31, 2023, the Company recorded a lease liability and a right-of-use asset for approximately $0.3 million related to the El Segundo Sublease, which is included in Right of Use Assets and Lease Liability on the Company’s consolidated balance sheet.

Leases

Leases	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Leases	Leases Lessor The Company leases industrial and office space to tenants primarily under leases classified as non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. The Company recognized $219.6 million, $343.3 million and $378.3 million of lease income The Company's current third-party leases have expirations ranging from 2024 to 2044. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2023. Minimum Base Rent As of December 31, 2023 2024 $ 196,153 2025 189,046 2026 185,005 2027 166,852 2028 152,067 Thereafter 595,746 Total $ 1,484,869 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessee - Ground Leases As of December 31, 2023, the Company is the tenant under (i) three ground lease classified as operating leases, and (ii) two ground leases classified as financing leases. Each of these ground leases were assigned to the Company as part of its acquisition of the applicable assets and no incremental costs were incurred for such ground leases. These ground leases are classified as non-cancelable, and contain no renewal options. Lessee - Office Leases As of December 31, 2023, the Company is the tenant under the following two office space leases, each of which is classified as a non-cancelable operating lease: (i) the El Segundo Sublease described in Note 11, Related Party Transactions, above, and (ii) a lease for its office space in Chicago, Illinois, which expires on June 29, 2025. For ground leases and operating leases, the Company incurred costs of approximately $3.9 million for the years ended December 31, 2023 and $4.1 million for the year ended December 31, 2022 respectively, which are included in “Property Operating Expense” in the accompanying consolidated statement of operations. Total cash paid for amounts included in the measurement of operating lease liabilities was $2.1 million for the year ended December 31, 2023 and December 31, 2022, respectively. The following table sets forth the weighted-average for the lease term and the discount rate as of December 31, 2023 and 2022: As of December 31, 2023 Lease Term and Discount Rate Operating Financing Weighted-average remaining lease term in years 76.7 15.2 Weighted-average discount rate (1) 4.89% 3.36 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements. Maturities of lease liabilities as of December 31, 2023 were as follows: As of December 31, 2023 Operating Financing 2024 $ 1,909 $ 520 2025 1,570 365 2026 1,504 375 2027 1,527 381 2028 1,595 386 Thereafter 248,693 3,072 Total undiscounted lease payments 256,798 5,099 Less imputed interest (213,715) (1,901) Total lease liabilities $ 43,083 $ 3,198
Leases	Leases Lessor The Company leases industrial and office space to tenants primarily under leases classified as non-cancelable operating leases that generally contain provisions for minimum base rents plus reimbursement for certain operating expenses. Total minimum lease payments are recognized in rental income on a straight-line basis over the term of the related lease and estimated reimbursements from tenants for real estate taxes, insurance, common area maintenance and other recoverable operating expenses are recognized in rental income in the period that the expenses are incurred. The Company recognized $219.6 million, $343.3 million and $378.3 million of lease income The Company's current third-party leases have expirations ranging from 2024 to 2044. The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2023. Minimum Base Rent As of December 31, 2023 2024 $ 196,153 2025 189,046 2026 185,005 2027 166,852 2028 152,067 Thereafter 595,746 Total $ 1,484,869 The future minimum base rents in the table above excludes tenant reimbursements of operating expenses, amortization of adjustments for deferred rent receivables and the amortization of above/below-market lease intangibles. Lessee - Ground Leases As of December 31, 2023, the Company is the tenant under (i) three ground lease classified as operating leases, and (ii) two ground leases classified as financing leases. Each of these ground leases were assigned to the Company as part of its acquisition of the applicable assets and no incremental costs were incurred for such ground leases. These ground leases are classified as non-cancelable, and contain no renewal options. Lessee - Office Leases As of December 31, 2023, the Company is the tenant under the following two office space leases, each of which is classified as a non-cancelable operating lease: (i) the El Segundo Sublease described in Note 11, Related Party Transactions, above, and (ii) a lease for its office space in Chicago, Illinois, which expires on June 29, 2025. For ground leases and operating leases, the Company incurred costs of approximately $3.9 million for the years ended December 31, 2023 and $4.1 million for the year ended December 31, 2022 respectively, which are included in “Property Operating Expense” in the accompanying consolidated statement of operations. Total cash paid for amounts included in the measurement of operating lease liabilities was $2.1 million for the year ended December 31, 2023 and December 31, 2022, respectively. The following table sets forth the weighted-average for the lease term and the discount rate as of December 31, 2023 and 2022: As of December 31, 2023 Lease Term and Discount Rate Operating Financing Weighted-average remaining lease term in years 76.7 15.2 Weighted-average discount rate (1) 4.89% 3.36 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements. Maturities of lease liabilities as of December 31, 2023 were as follows: As of December 31, 2023 Operating Financing 2024 $ 1,909 $ 520 2025 1,570 365 2026 1,504 375 2027 1,527 381 2028 1,595 386 Thereafter 248,693 3,072 Total undiscounted lease payments 256,798 5,099 Less imputed interest (213,715) (1,901) Total lease liabilities $ 43,083 $ 3,198

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Litigation From time to time, the Company may become subject to legal and regulatory proceedings, claims and litigation arising in the ordinary course of business. The Company is not a party to, nor is the Company aware of any material pending legal proceedings nor is property of the Company subject to any material pending legal proceedings. Capital Expenditures and Tenant Improvement Commitments As of December 31, 2023, the Company had an aggregate remaining contractual commitment for repositioning, capital expenditure projects, leasing commissions and tenant improvements of approximately $15.7 million.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting In the fourth quarter of 2022, the Company evolved the management strategy of its real estate portfolio to focus on three different property types in order to provide clarity to the value and operations associated with the assets within each group. As a result, the Company changed to three reportable segments: Industrial, Office, and Other. The Industrial segment consists of high-quality, well-located industrial properties with modern specifications. The Office segment includes newer, high-quality office properties. The Other segment consists of vacant and non-core properties, together with other properties in the same cross-collateralized loan pools. The Company recast its segment results for all prior periods presented to show the three reportable segments. The Company evaluates performance of each segment based on segment net operating income (“NOI”), which is defined as property revenue less property expenses. The Company excludes the following from Segment NOI because they are addressed on a corporate level: (i) the Office Joint Venture, (ii) interest expense, and (iii) general and administrative expenses. Segment NOI is not a measure of operating income or cash flows from operating activities is not indicative of cash available to fund cash needs and should not be considered an alternative to cash flows as a measure of liquidity. Not all companies calculate segment profit measures in the same manner. The Company considers segment NOI to be an appropriate supplemental measure to net income because it assists both investors and management in understanding the core operations of our properties. The following table presents segment NOI for the years ended December 31, 2023, 2022, and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Industrial NOI Total Industrial revenues $ 57,304 $ 61,347 $ 59,320 Industrial operating expenses (7,655) (7,870) (7,195) Industrial NOI 49,649 53,477 52,125 Office NOI Total Office revenues 142,734 297,110 340,265 Office operating expenses (24,295) (66,143) (80,010) Office NOI 118,439 230,967 260,255 Other NOI Total Other revenues 54,246 58,029 60,288 Other operating expenses (20,476) (19,252) (19,369) Other NOI 33,770 38,777 40,919 Total NOI $ 201,858 $ 323,221 $ 353,299 A reconciliation of net (loss) income to total NOI for the years ended December 31, 2023, 2022, and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Reconciliation of Net (Loss) Income to Total NOI Net (loss) income $ (605,102) $ (441,382) $ 11,570 General and administrative expenses 42,962 38,995 39,051 Corporate operating expenses to affiliates 1,154 1,349 2,520 Impairment provision, real estate 409,512 127,577 4,242 Impairment provision, goodwill 16,031 135,270 — Depreciation and amortization 112,204 190,745 209,638 Interest expense 65,623 84,816 85,087 Debt breakage costs — 13,249 — Other loss (income), net (13,111) 943 (93) Loss (income) from investment in unconsolidated entities 176,767 9,993 (8) Loss (gain) from disposition of assets (29,164) 139,280 326 Transaction expense 24,982 22,386 966 Total NOI $ 201,858 $ 323,221 $ 353,299 The following table presents the Company’s goodwill for each of the segments as of December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Goodwill Industrial $ 68,373 $ 68,373 Office — — Other 10,274 26,305 Total Goodwill $ 78,647 $ 94,678 The following table presents the Company’s total real estate assets, net, which includes accumulated depreciation and amortization and excludes intangibles, for each segment as of December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Industrial Real Estate, net Total real estate $ 741,737 $ 761,757 Accumulated depreciation and amortization (152,353) (137,738) Industrial real estate, net 589,384 624,019 Office Real Estate, net Total real estate 1,505,959 2,020,463 Accumulated depreciation and amortization (286,136) (305,829) Office real estate, net 1,219,823 1,714,634 Other Real Estate, net Total real estate 362,415 715,036 Accumulated depreciation and amortization (112,063) (201,072) Other real estate, net 250,352 513,964 Total Real Estate, net $ 2,059,559 $ 2,852,617 Total Real Estate Held for Sale, net Total real estate $ 64,289 $ 26,902 Accumulated depreciation and amortization (14,636) (7,494) Real estate held for sale, net $ 49,653 $ 19,408 Total asset information by segment is not reported because the Company does not use this measure to assess performance or to make resource allocation decisions.

Declaration of Dividends

Declaration of Dividends	12 Months Ended
	Dec. 31, 2023
Declaration of Dividends [Abstract]
Declaration of Dividends	Declaration of Dividends On January 20, 2023 the Board declared an all-cash dividend rate, based on 365 days in the calendar year, of $0.008630136 per day ($3.15 per share annualized), subject to adjustments for class-specific expenses, per share of each class of common share as of the close of each business day for the period commencing January 1, 2023 and ending on January 31, 2023. The Company paid such dividends to each shareholder of record on February 1, 2023. On February 16, 2023, the Board declared an all-cash dividend rate, based on 365 days in the calendar year, of $0.002465753 per day ($0.90 per share annualized), subject to adjustments for class-specific expenses, per share of each class of common share as of the close of each business day for the period commencing February 1, 2023 and ending on February 28, 2023. The Company paid such dividends to each shareholder of record on February 24, 2023. On March 14, 2023, the Board declared an all-cash monthly dividend for the month of March in the amount of $0.075 per common share. The Company paid such dividend on May 12, 2023 to shareholders of record as of May 2, 2023. On June 20, 2023, the Board declared an all-cash dividend for the second quarter in the amount of $0.225 per common share. The Company paid such dividend on July 17, 2023 to shareholders of record as of June 30, 2023. On August 2, 2023, the Board declared an all-cash dividend for the third quarter in the amount of $0.225 per common share. The Company paid such dividend on October 17, 2023 to shareholders of record as of September 30, 2023. On November 7, 2023, the Board declared an all-cash dividend for the fourth quarter in the amount of $0.225 per common share. The Company paid such dividend on January 17, 2024 to shareholders of record as of December 29, 2023.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2023
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On January 31, 2024, the Company sold one held-for-sale property in the Office segment property for a sales price of $30.0 million and issued a $15.0 million, one-year promissory note in connection with the sale. On February 12, 2024, the Company exercised an option to extend the Revolving Loan Maturity Date, which upon satisfaction or waiver of certain customary conditions, will extend to June 30, 2024. On February 21, 2024, the Board declared an all-cash dividend for the first quarter in the amount of $0.225 per common share. Such dividend is payable on or about April 18, 2024 to shareholders of record as of March 29, 2024.

Schedule III - Real Estate Asse

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization	PEAKSTONE REALTY TRUST SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Dollars in thousands) Initial Cost to Company (1) Total Adjustment to Basis (2) Gross Carrying Amount at Life on Property Property Type State Encumbrances (4) Land Building and Improvements Building and Improvements Land (3) Building and Improvements (2) Total Accumulated Depreciation and Amortization Date of Construction Date of Acquisition Industrial Hopkins Industrial KS $ — $ 274 $ 7,567 $ 963 $ 274 $ 8,530 $ 8,804 $ 3,667 N/A 8/27/2010 5-40 years TransDigm Industrial NJ — 3,773 9,030 411 3,773 9,441 13,214 3,694 N/A 5/31/2012 5-40 years Berry Global Industrial IL — 2,674 13,229 1,901 2,674 15,130 17,804 5,539 N/A 11/8/2012 5-40 years Amazon - Arlington Heights Industrial IL 7,697 21,843 5,879 7,697 27,722 35,419 10,236 N/A 8/13/2013 5-40 years Roush Industries Industrial MI — 875 11,375 2,632 875 14,007 14,882 4,983 N/A 11/5/2013 5-40 years Samsonite Industrial FL — 5,040 42,490 268 5,040 42,758 47,798 12,283 N/A 12/11/2015 5-40 years RH Industrial CA — 15,463 36,613 37,692 15,463 74,305 89,768 28,707 N/A 1/14/2016 5-40 years PepsiCo Industrial FL — 5,433 55,341 181 5,433 55,522 60,955 9,866 N/A 3/13/2018 5-40 years Shaw Industries Industrial GA — 5,465 57,116 — 5,465 57,116 62,581 10,063 N/A 5/3/2018 5-40 years Huntington Ingalls Industrial VA — 3,100 15,903 116 3,100 16,019 19,119 3,781 N/A 5/1/2019 5-40 years Huntington Ingalls Industrial VA — 3,113 15,968 95 3,113 16,063 19,176 3,797 N/A 5/1/2019 5-40 years OceanX Industrial OH — 978 16,705 — 978 16,705 17,683 4,560 N/A 5/1/2019 5-40 years Atlas Copco Industrial MI — 1,156 19,802 — 1,156 19,802 20,958 4,829 N/A 5/1/2019 5-40 years ZF Wabco Industrial SC — 1,226 14,662 279 1,226 14,941 16,167 2,476 N/A 5/1/2019 5-40 years 3M Industrial IL 250,000 '(6) 5,802 82,148 (1) 5,802 82,147 87,949 12,254 N/A 5/1/2019 5-40 years Amazon - Etna Industrial OH — '(6) 4,773 107,021 — 4,773 107,021 111,794 18,987 N/A 5/1/2019 5-40 years Pepsi Bottling Ventures Industrial NC 17,439 3,407 32,737 — 3,407 32,737 36,144 4,478 N/A 2/5/2020 5-40 years Fidelity Building Services Industrial MD — 1,662 11,181 — 1,662 11,181 12,843 1,197 N/A 3/1/2021 5-40 years Amcor Industrial OH — 4,962 43,717 — 4,962 43,717 48,679 6,956 N/A 3/1/2021 5-40 years Total Industrial $ 267,439 $ 76,873 $ 614,448 $ 50,416 $ 76,873 $ 664,864 $ 741,737 $ 152,353 Office AT&T (14500 NE 87th Street) Office WA $ — $ 2,607 $ 12,483 $ 953 $ 2,607 $ 13,436 $ 16,043 $ 5,138 N/A 1/31/2012 5-40 years Initial Cost to Company (1) Total Adjustment to Basis (2) Gross Carrying Amount at Life on Property Property Type State Encumbrances (4) Land Building and Improvements Building and Improvements Land (3) Building and Improvements (2) Total Accumulated Depreciation and Amortization Date of Construction Date of Acquisition AT&T (14520 NE 87th Street) Office WA — 2,599 12,448 615 2,599 13,063 15,662 6,493 N/A 1/31/2012 5-40 years AT&T (14560 NE 87th Street) Office WA — 1,564 7,490 776 1,564 8,266 9,830 2,436 N/A 1/31/2012 5-40 years PPG Office PA — 2,650 26,745 54 2,650 26,799 29,449 11,204 N/A 3/22/2012 5-40 years York Space Systems (East Village) Office CO — 2,600 13,500 11,191 2,600 24,691 27,291 9,697 N/A 6/29/2012 5-40 years Maxar Technologies Office CO — 8,600 83,400 — 8,600 83,400 92,000 31,897 N/A 1/14/2014 5-40 years Spectrum Office FL — 1,000 16,772 — 1,000 16,772 17,772 7,072 N/A 6/25/2014 5-40 years Amentum (Heritage II) Office TX — 1,955 15,540 (3,438) 649 12,102 12,751 3,672 N/A 12/11/2015 5-40 years 530 Great Circle Road Office TN — 4,724 18,281 6,169 4,724 24,450 29,174 5,729 N/A 4/27/2016 5-40 years Cigna (500 Great Circle Road) Office TN — 3,402 13,166 404 3,402 13,570 16,972 4,322 N/A 4/27/2016 5-40 years LPL (1055 & 1060 LPL Way) Office SC — 4,612 86,352 — 4,612 86,352 90,964 15,412 N/A 11/30/2017 5-40 years LPL (1040 LPL Way) Office SC — 1,273 41,509 — 1,273 41,509 42,782 7,407 N/A 11/30/2017 5-40 years McKesson (5601 N. Pima Road) Office AZ — 159 35,490 1,362 159 36,852 37,011 13,206 N/A 4/10/2018 5-40 years OnSemi (5701 N. Pima Road) Office AZ — 153 34,270 6,253 153 40,523 40,676 12,939 N/A 4/10/2018 5-40 years Travel & Leisure, Co. Office NJ — 9,677 73,058 — 9,677 73,058 82,735 15,855 N/A 5/1/2019 5-40 years Rapiscan Systems Office MA — 2,006 10,755 40 2,006 10,795 12,801 2,834 N/A 5/1/2019 5-40 years Toshiba TEC Office NC — 1,916 38,796 (1) 1,916 38,795 40,711 9,065 N/A 5/1/2019 5-40 years IGT Office NV — '(6) 5,673 69,631 — 5,673 69,631 75,304 12,571 N/A 5/1/2019 5-40 years Zoetis Office NJ — 3,718 44,817 — 3,718 44,817 48,535 9,126 N/A 5/1/2019 5-40 years Southern Company Office AL — '(6) 7,794 159,181 — 7,794 159,181 166,975 21,270 N/A 5/1/2019 5-40 years MISO Office IN — 3,725 26,820 1 3,725 26,821 30,546 5,792 N/A 5/1/2019 5-40 years Mckesson (5801 N. Pima Road) Office AZ — — 41,640 68 — 41,708 41,708 9,479 N/A 9/20/2019 5-40 years Freeport McMoRan Office AZ — 4,264 120,686 (79,513) 1,453 41,173 42,626 6,002 N/A 3/1/2021 5-40 years Avnet (Phoenix) Office AZ — 5,394 32,883 — 5,394 32,883 38,277 7,073 N/A 3/1/2021 5-40 years Terraces at Copley Point Office CA — 23,897 88,625 55 23,897 88,680 112,577 14,529 N/A 3/1/2021 5-40 years Occidental Petroleum Office CO — 6,841 26,496 — 6,841 26,496 33,337 3,579 N/A 3/1/2021 5-40 years Initial Cost to Company (1) Total Adjustment to Basis (2) Gross Carrying Amount at Life on Property Property Type State Encumbrances (4) Land Building and Improvements Building and Improvements Land (3) Building and Improvements (2) Total Accumulated Depreciation and Amortization Date of Construction Date of Acquisition Keurig Dr. Pepper (63 South Ave) Office MA — 5,111 49,276 (4,409) 4,646 44,867 49,513 5,198 N/A 3/1/2021 5-40 years Keurig Dr. Pepper (53 South Ave) Office MA — 3,262 169,861 (51,809) 2,264 118,052 120,316 12,178 N/A 3/1/2021 5-40 years 40 Wright Office MD — 2,873 51,679 (22,715) 1,565 28,964 30,529 2,905 N/A 3/1/2021 5-40 years 136 Capcom Office NC — 887 5,176 — 887 5,176 6,063 1,071 N/A 3/1/2021 5-40 years 204 Capcom Office — 915 5,343 — 915 5,343 6,258 1,106 N/A 3/1/2021 5-40 years Cigna (Express Scripts) Office PA — 4,725 20,836 (15,164) 905 5,672 6,577 1,037 N/A 3/1/2021 5-40 years International Paper Office TN — 1,376 77,536 — 1,376 77,536 78,912 8,354 N/A 3/1/2021 5-40 years Tech Data Corp. Office TX — 3,138 13,659 (10,885) 508 2,774 3,282 488 N/A 3/1/2021 5-40 years Total Office $ — $ 135,090 $ 1,544,200 $ (159,993) $ 121,752 $ 1,384,207 $ 1,505,959 $ 286,136 Other Northrop Grumman Other OH $ 92,444 '(7) $ 1,300 $ 16,188 $ 619 $ 1,300 $ 16,807 $ 18,107 $ 8,322 N/A 11/13/2012 5-40 years Raytheon Technologies Other NC — '(7) 1,330 37,858 — 1,330 37,858 39,188 16,003 N/A 5/3/2013 5-40 years Avnet (Chandler) Other AZ — '(7) 1,860 31,481 47 1,860 31,528 33,388 10,241 N/A 5/29/2013 5-40years 30 Independence Other NJ — '(7) 5,300 36,768 (11,037) 1,720 25,731 27,451 10,229 N/A 10/3/2013 5-40 years Wyndham Hotels & Resorts Other NJ 119,953 '(8) 6,200 91,153 2,494 6,200 93,647 99,847 28,807 N/A 4/23/2014 5-40 years Crosspoint Other AZ — 15,000 45,893 (26,474) 4,210 19,419 23,629 6,693 N/A 5/22/2014 5-40years Level 3 (ParkRidge One) Other CO — 10,554 35,817 (18,023) 4,753 17,794 22,547 7,854 N/A 8/1/2014 5-40 years Franklin Center Other MD — 6,989 46,875 (36,567) 1,320 10,308 11,628 3,273 N/A 6/10/2015 5- 40 years Owens Corning Other NC — '(8) 867 4,972 547 867 5,519 6,386 1,480 N/A 5/1/2019 5-40 years Wood Group (Westgate II) Other TX — '(8) 7,716 49,292 (39,189) 1,471 10,103 11,574 2,961 N/A 5/1/2019 5-40 years Administrative Office of Pennsylvania Courts Other PA — '(8) 1,246 10,125 283 1,246 10,408 11,654 2,817 N/A 5/1/2019 5-40 years MGM Corporate Center (840 Grier Drive) Other NV — '(8) 1,634 9,558 818 1,634 10,376 12,010 2,987 N/A 5/1/2019 5-40 years MGM Corporate Center (880 Grier Drive) Other NV — '(8) 2,188 12,771 326 2,188 13,097 15,285 3,719 N/A 5/1/2019 5-40 years MGM Corporate Center (950 Grier Drive) Other NV — '(8) 723 4,220 146 723 4,366 5,089 1,299 N/A 5/1/2019 5-40years Hitachi Astemo Other OH — '(8) 1,214 18,965 57 1,214 19,022 20,236 4,440 N/A 5/1/2019 5-40 years Initial Cost to Company (1) Total Adjustment to Basis (2) Gross Carrying Amount at Life on Property Property Type State Encumbrances (4) Land Building and Improvements Building and Improvements Land (3) Building and Improvements (2) Total Accumulated Depreciation and Amortization Date of Construction Date of Acquisition 345 Bob Heath Drive Other AL — 5,007 24,821 (20,939) 514 3,882 4,396 938 N/A 3/1/2021 5-40 years Total Other $ 212,397 $ 69,128 $ 476,757 $ (146,892) $ 32,550 $ 329,865 $ 362,415 $ 112,063 Total Portfolio (5) $ 479,836 $ 281,091 $ 2,635,405 $ (256,469) $ 231,175 $ 2,378,936 $ 2,610,111 $ 550,552 Real estate assets held for sale Hitachi Energy USA Other MO $ 11,709 $ 5,637 $ 25,280 $ — $ 5,637 $ 25,280 $ 30,917 $ 9,973 N/A 11/6/2015 Corteva Agriscience Office IA — 6,412 40,923 (12,005) 4,454 28,918 33,372 4,663 N/A 3/1/2021 Total held for sale $ 11,709 $ 12,049 $ 66,203 $ (12,005) $ 10,091 $ 54,198 $ 64,289 $ 14,636 (1) Building and improvements include tenant origination and absorption costs. (2) Consists of capital expenditure, real estate development costs, and impairment charges to building and improvements. (3) Consists of impairment charges to land. (4) Amounts do not include unamortized deferred financing costs and discounts, net. (5) For federal income tax purposes, the aggregate cost of real estate the Company and consolidated subsidiaries owned was approximately $2.8 billion as of December 31, 2023. (6) These properties secure the BOA II Loan. (7) These properties secure the AIG Loan. (8) These properties secure the AIG II Loan. Activity for the Year Ended December 31, 2023 2022 2021 Real estate facilities Balance at beginning of year $ 3,497,256 $ 5,570,160 $ 4,310,302 Acquisitions — — 1,289,296 Construction costs and improvements 17,412 8,607 29,042 Other adjustments (11) (129) (2,976) Write down of tenant origination and absorption costs — — (422) Impairment provision (516,671) (178,414) (4,242) Sale of real estate assets (323,586) (1,876,066) (50,840) Real estate assets held for sale (64,289) (26,902) — Balance at end of year $ 2,610,111 $ 3,497,256 $ 5,570,160 Accumulated depreciation Balance at beginning of year $ 644,639 $ 993,323 $ 817,773 Depreciation and amortization expense 110,578 186,350 209,638 Write down of tenant origination and absorption costs — — (422) Impairment provision (107,160) (50,838) — Other adjustments (21) (47) — Less: Non-real estate assets depreciation expense — — (5,860) Less: Sale of real estate assets depreciation expense (82,848) (476,655) (27,806) Less: Real estate assets held for sale (14,636) (7,494) — Balance at end of year $ 550,552 $ 644,639 $ 993,323 Real estate facilities, net $ 2,059,559 $ 2,852,617 $ 4,576,837

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net Loss	$ (557,928)	$ (411,909)	$ 1,629

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Basis of Presentation and Sum_2

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Basis of Accounting	The accompanying cons
Principles of Consolidation / Consolidation Considerations	Principles of Consolidation The Company's financial statements, and the financial statements of the Operating Partnership, including its wholly-owned subsidiaries, are consolidated in the accompanying consolidated financial statements. The portion of these entities not wholly-owned by the Company is presented as noncontrolling interests. All significant intercompany accounts and transactions have been eliminated in consolidation. Consolidation Considerations Current accounting guidance provides a framework for identifying a variable interest entity (“VIE”) and determining when a company should include the assets, liabilities, noncontrolling interests, and results of activities of a VIE in its consolidated financial statements. In general, a VIE is an entity or other legal structure used to conduct activities or hold assets that either (1) has an insufficient amount of equity to carry out its principal activities without additional subordinated financial support, (2) has a group of equity owners that are unable to make significant decisions about its activities, or (3) has a group of equity owners that do not have the obligation to absorb losses or the right to receive returns generated by its operations. Generally, a VIE should be consolidated if a party with an ownership, contractual, or other financial interest in the VIE (a variable interest holder) has the power to direct the VIE’s most significant activities and the obligation to absorb losses or right to receive benefits of the VIE that could be significant to the VIE. A variable interest holder that consolidates the VIE is called the primary beneficiary. Upon consolidation, the primary beneficiary generally must initially record all of the VIE’s assets, liabilities, and noncontrolling interests at fair value and subsequently account for the VIE as if it were consolidated based on majority voting interest. See Note 4, Investments in Unconsolidated Entities, for more detail . The Company has determined that the Operating Partnership is a variable interest entity because the holders of limited partnership interests do not have substantive kick-out rights or participation rights. Furthermore, the Company is the primary beneficiary of the Operating Partnership because the Company has the obligation to absorb losses and the right to receive benefits from the Operating Partnership and the exclusive power to direct the activities of the Operating Partnership. As of December 31, 2023 and 2022, the assets and liabilities of the Company and the Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investment in the Operating Partnership.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with a maturity of three months or less at the time of purchase to be cash equivalents. Cash and cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. Refer to Restricted Cash below for certain cash balances that meet the definition of restricted cash. The Company maintains its cash accounts with major financial institutions. The cash balances consist of business checking accounts. These accounts are insured by the Federal Deposit Insurance Corporation up to $250,000 at each institution. The Company has not experienced any losses with respect to cash balances in excess of government provided insurance. Management believes there was no significant concentration of credit risk with respect to these cash balances as of December 31, 2023.
Restricted Cash	Restricted Cash
Real Estate Purchase Price Allocation	Real Estate Purchase Price Allocation The Company applies the provisions in ASC 805-10, Business Combinations (“ASC 805-10”), to account for the acquisition of real estate, or real estate related assets, in which a lease, or other contract, is in place representing an active revenue stream, as an asset acquisition (or when applicable, a business combination). In accordance with the provisions of ASC 805-10 (on an asset acquisition), the Company recognizes the assets acquired, the liabilities assumed and any noncontrolling interest in the acquired entity at their relative fair values. The accounting provisions have also established that transaction costs associated with an asset acquisition are capitalized. Acquired in-place leases are valued as above-market or below-market as of the date of acquisition. The valuation is measured based on the present value (using an interest rate, which reflects the risks associated with the leases acquired) of the difference between (a) the contractual amounts to be paid pursuant to the in-place leases and (b) management’s estimate of fair market lease rates for the corresponding in-place leases over a period equal to the remaining non-cancelable term of the lease for above-market leases, taking into consideration below-market extension options for below-market leases. In addition, renewal options are considered and will be included in the valuation of in-place leases if, in management’s judgment, (1) it is likely that the tenant will exercise the option, and (2) the renewal rent is considered to be sufficiently below a fair market rental rate at the time of renewal. The above-market and below-market lease values are capitalized as intangible lease assets or liabilities and amortized as an adjustment to rental income over the remaining terms of the respective leases. The aggregate relative fair value of in-place leases includes direct costs associated with obtaining a new tenant, opportunity costs associated with lost rentals, which are avoided by acquiring an in-place lease, and tenant relationships. Direct costs associated with obtaining a new tenant include commissions, tenant improvements, and other direct costs, and are estimated using methods similar to those used in independent appraisals and management’s consideration of current market costs to execute a similar lease. These direct costs are considered intangible lease assets and are included with real estate assets on the consolidated balance sheets. The intangible lease assets are amortized to expense over the remaining terms of the respective leases. The value of opportunity costs is calculated using the contractual amounts to be paid, including real estate taxes, insurance, and other operating expenses, pursuant to the in-place leases over a market lease-up period for a similar lease. Customer relationships are valued based on management’s evaluation of certain characteristics of each tenant’s lease and the Company’s overall relationship with that respective tenant. Characteristics management will consider in allocating these values include the nature and extent of the Company’s existing business relationships with tenants, growth prospects for developing new business with the tenant, the credit quality of the tenant, the lease guarantor and/or the parent entity, and expectations of lease renewals (including those existing under the terms of the lease agreement), among other factors. These intangibles will be included in intangible lease assets on the consolidated balance sheets and are amortized to expense over the remaining term of the respective leases. The determination of the relative fair values of the assets and liabilities acquired requires the use of significant assumptions about current market rental rates, rental growth rates, discount rates and other variables.
Depreciation and Amortization	Depreciation and Amortization The purchase price of real estate acquired and costs related to development, construction, and property improvements are capitalized. Repairs and maintenance costs include all costs that do not extend the useful life of the real estate asset and are expensed as incurred. The Company considers the period of future benefit of an asset to determine the appropriate useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 25-40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases If a lease is terminated or amended prior to its scheduled expiration, the Company will accelerate/extend the remaining useful life of the unamortized lease-related costs.
Impairment of Real Estate and Related Intangible Assets and Liabilities and Impairment of Goodwill	Impairment of Real Estate and Related Intangible Assets and Liabilities In accordance with the provisions of the Impairment or Disposal of Long-Lived Assets Subsections of ASC 360, the Company assesses the carrying values of our real estate assets whenever events or changes in circumstances indicate that the carrying amounts of these assets may not be fully recoverable. Where indicators of impairment exist, the Company evaluates the recoverability of its real estate assets by comparing the carrying amounts of the assets to the estimated undiscounted cash flows. The estimation required in the undiscounted future cash flows includes estimates of future market and economic conditions impacting the Company's real estate assets, including assumptions related to estimated selling prices, anticipated hold periods, potential vacancies, capitalization rates, market rental income amounts subsequent to the expiration of current lease agreements, and property operating expenses. When the carrying amounts of the real estate assets are not recoverable based on the undiscounted cash flows, the Company will calculate an impairment charge as the amount the carrying value exceeds the estimated fair value of the real estate property as of the measurement date. Fair value is determined through certain valuation techniques involving (i) discounted cash flow models applying significant assumptions related to market rent, terminal capitalization rates, and discount rates or (ii) estimated selling prices based on quoted market values or comparable property sales. Refer to Note 3, Real Estate , for further details. Impairment of Goodwill Goodwill arises from business combinations and represents the excess of the cost of an acquired entity over the net fair value amounts that were assigned to the identifiable assets acquired and the liabilities assumed. The Company recorded goodwill as a result of the transaction that resulted in the internalization of PKST management in December 2018 (“Self-Administration Transaction”). The Company’s goodwill was initially assigned to a single reporting unit as of the acquisition date of the Self-Administration Transaction. In the fourth quarter of 2022, the Company realigned its operating segments to Industrial, Office, and Other, which resulted in a change in the composition of its reporting units; therefore, the Company reassigned goodwill to the respective reporting units. The Company’s goodwill has an indeterminate life and is not amortized. Goodwill is tested for impairment on an annual basis for each reporting unit as of October 1st of each period, or more frequently if events or changes in circumstances indicate that the asset is more likely than not impaired. The Company performs a qualitative analysis to determine whether a potential impairment of goodwill exists prior to quantitatively estimating the fair value of each reporting unit. If an impairment exists, the Company recognizes an impairment of goodwill based on the excess of the reporting unit’s carrying value compared to its fair value, up to the amount of goodwill for that reporting unit. Under the quantitative assessment, the Company determined that the fair value of real estate assets and mortgage loans are the significant components in determining the fair value for each reporting unit. The Company estimates the fair value of real estate assets using (i) discounted cash flow models applying significant assumptions related to market rent, terminal capitalization rates, and discount rates or (ii) estimated selling prices based on quoted market values or comparable property sales. The Company estimates the fair value of the mortgage loans in each reporting unit by discounting each loan’s principal balance over the remaining term of the mortgage using current borrowing rates available to the Company for debt instruments with similar terms and maturities. For the amounts within the consolidated financial statements for the remaining assets and liabilities, the Company determines whether those balances generally approximate fair value. For any corporate related amounts that are not specifically identifiable to any reporting unit, the Company allocates those amounts on a relative fair value basis using the specifically identified assets and liabilities.
Impairment of Investments in Unconsolidated Entities	Impairment of Investments in Unconsolidated Entities If applicable, the Company performs a quarterly evaluation of its equity method investments in unconsolidated entities for a potential other-than-temporary impairment (“OTTI”). If the Company’s investment is other than temporarily impaired, it determines the fair value of its investment and records the impairment measured as the difference between its carrying amount and fair value. The impairment is recorded to net earnings or loss from investment in unconsolidated entities on the consolidated statement of operations. See Note 4, Investment in Unconsolidated Entities , for further details.
Revenue Recognition	Revenue Recognition Leases associated with the acquisition and contribution of certain real estate assets have net minimum rent payment increases during the term of the lease and are recorded to rental revenue on a straight-line basis, commencing as of the contribution or acquisition date. If a lease provides for contingent rental income, the Company will defer the recognition of contingent rental income, such as percentage rents, until the specific target that triggers the contingent rental income is achieved. Tenant reimbursement revenue, which is comprised of additional amounts collected from tenants for the recovery of certain operating expenses, including repair and maintenance, property taxes (excluding taxes charged to the owner but paid by a tenant directly to the taxing authority) and insurance, and capital expenditures, to the extent allowed pursuant to the lease (collectively, “Recoverable Expenses”), is recognized as revenue when the additional rent is due. Recoverable Expenses to be reimbursed by a tenant are determined based on the Company's estimate of the property's operating expenses for the year, pro-rated based on leased square footage of the property, and are collected in equal installments as additional rent from the tenant, pursuant to the terms of the lease. At the end of each quarter, the Company reconciles the amount of additional rent paid by the tenant during the quarter to the actual amount of the Recoverable Expenses incurred by the Company for the same period. As required by the applicable lease, the difference, if any, is either charged or credited to the tenant pursuant to the provisions of such lease. In certain instances, the lease may restrict the amount the Company can recover from the tenant, such as a cap on certain or all property operating expenses. In a situation in which a lease associated with a significant tenant has been, or is expected to be, terminated early, or extended, the Company evaluates the remaining useful life of amortizable assets in the asset group related to the lease that will be terminated (i.e. above- and below-market lease intangibles, in-place lease value and deferred leasing costs). Based upon consideration of the facts and circumstances surrounding the termination or extension, the Company may write-off or accelerate the amortization associated with the asset group. Such amounts are included within rental and other income for above- and below-market lease intangibles and amortization for the remaining lease related asset groups in the consolidated statements of operations.
Lease Accounting	Lease Accounting On January 1, 2019, the Company adopted ASC 842 using the modified retrospective approach and elected to apply the provisions as of the date of adoption on a prospective basis. Upon adoption of ASC 842, the Company elected the “package of practical expedients,” which allowed the Company to not reassess (a) whether expired or existing contracts as of January 1, 2019 are or contain leases, (b) the lease classification for any expired or existing leases as of January 1, 2019, and (c) the treatment of initial direct costs relating to any existing leases as of January 1, 2019. The package of practical expedients was made as a single election and was consistently applied to all leases that commenced before January 1, 2019. Lessor ASC 842 requires lessors to account for leases using an approach that is substantially equivalent to ASC 840 for sales-type leases, direct financing leases, and operating leases. As the Company elected the package of practical expedients, the Company's existing leases as of January 1, 2019 continue to be accounted for as operating leases. Upon adoption of ASC 842, the Company elected the practical expedient permitting lessors to elect by class of underlying asset to not separate nonlease components (for example, maintenance services, including common area maintenance) from associated lease components (the “non-separation practical expedient”) if both of the following criteria are met: (1) the timing and pattern of transfer of the lease and non-lease component(s) are the same and (2) the lease component would be classified as an operating lease if it were accounted for separately. If both criteria are met, the combined component is accounted for in accordance with ASC 842 if the lease component is the predominant component of the combined component; otherwise, the combined component is accounted for in accordance with the revenue recognition standard. The Company assessed the criteria above with respect to the Company's operating leases and determined that they qualify for the non-separation practical expedient. As a result, the Company accounted for and presented all rental income earned pursuant to operating leases, including property expense recovery, as a single line item, “Rental income,” in the consolidated statement of operations for all periods presented. Prior to the adoption of ASC 842, the Company presented rental income, property expense recovery and other income related to leases separately in the Company's consolidated statements of operations. Under ASC 842, lessors are required to record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed by a lessee. Conversely, lessors are required to record revenues and expenses on a net basis for lessor costs when they are paid by a lessee directly to a third party on behalf of the lessor. Prior to the adoption of ASC 842, the Company recorded revenues and expenses on a gross basis for real estate taxes whether they were reimbursed to the Company by a tenant or paid directly by a tenant to the taxing authorities on the Company's behalf. Effective January 1, 2019, the Company is recording these costs in accordance with ASC 842. Lessee ASC 842 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset (“ROU asset”), which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASC 842 also requires lessees to classify leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification is used to evaluate whether the lease expense should be recognized based on an effective interest method or on a straight-line basis over the term of the lease. On January 1, 2019, the Company was the lessee on two ground leases, which were classified as operating leases under ASC 840. As the Company elected the packages of practical expedients, the Company is not required to reassess the classification of these existing leases and, as such, these leases continue to be accounted for as operating leases. On January 1, 2019, the Company recognized ROU assets and lease liabilities for these leases on the Company's consolidated balance sheets, and on a go-forward basis, lease expense will be recognized on a straight-line basis over the remaining term of the lease. On January 1, 2019, the Company recorded a ROU asset of $25.5 million and a corresponding liability of approximately $27.6 million relating to the Company's existing ground lease arrangements. These operating leases were recognized based on the present value of the future minimum lease payments over the lease term. As these leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available in determining the present value of future payments. The discount rate used to determine the present value of these operating leases’ future payments was 5.36%. There was no impact to beginning equity as a result of the adoption related to the lessee accounting as the difference between the asset and liability is attributed to derecognition of pre-existing straight-line rent balances. Upon adoption of ASC 842, the Company also elected the practical expedient to not separate non-lease components, such as common area maintenance, from associated lease components for the Company's ground and office space leases.
Lease Accounting	Lease Accounting On January 1, 2019, the Company adopted ASC 842 using the modified retrospective approach and elected to apply the provisions as of the date of adoption on a prospective basis. Upon adoption of ASC 842, the Company elected the “package of practical expedients,” which allowed the Company to not reassess (a) whether expired or existing contracts as of January 1, 2019 are or contain leases, (b) the lease classification for any expired or existing leases as of January 1, 2019, and (c) the treatment of initial direct costs relating to any existing leases as of January 1, 2019. The package of practical expedients was made as a single election and was consistently applied to all leases that commenced before January 1, 2019. Lessor ASC 842 requires lessors to account for leases using an approach that is substantially equivalent to ASC 840 for sales-type leases, direct financing leases, and operating leases. As the Company elected the package of practical expedients, the Company's existing leases as of January 1, 2019 continue to be accounted for as operating leases. Upon adoption of ASC 842, the Company elected the practical expedient permitting lessors to elect by class of underlying asset to not separate nonlease components (for example, maintenance services, including common area maintenance) from associated lease components (the “non-separation practical expedient”) if both of the following criteria are met: (1) the timing and pattern of transfer of the lease and non-lease component(s) are the same and (2) the lease component would be classified as an operating lease if it were accounted for separately. If both criteria are met, the combined component is accounted for in accordance with ASC 842 if the lease component is the predominant component of the combined component; otherwise, the combined component is accounted for in accordance with the revenue recognition standard. The Company assessed the criteria above with respect to the Company's operating leases and determined that they qualify for the non-separation practical expedient. As a result, the Company accounted for and presented all rental income earned pursuant to operating leases, including property expense recovery, as a single line item, “Rental income,” in the consolidated statement of operations for all periods presented. Prior to the adoption of ASC 842, the Company presented rental income, property expense recovery and other income related to leases separately in the Company's consolidated statements of operations. Under ASC 842, lessors are required to record revenues and expenses on a gross basis for lessor costs (which include real estate taxes) when these costs are reimbursed by a lessee. Conversely, lessors are required to record revenues and expenses on a net basis for lessor costs when they are paid by a lessee directly to a third party on behalf of the lessor. Prior to the adoption of ASC 842, the Company recorded revenues and expenses on a gross basis for real estate taxes whether they were reimbursed to the Company by a tenant or paid directly by a tenant to the taxing authorities on the Company's behalf. Effective January 1, 2019, the Company is recording these costs in accordance with ASC 842. Lessee ASC 842 requires lessees to recognize the following for all leases (with the exception of short-term leases) at the commencement date: (1) a lease liability, which is a lessee’s obligation to make lease payments arising from a lease, measured on a discounted basis; and (2) a right-of-use asset (“ROU asset”), which is an asset that represents the lessee’s right to use, or control the use of, a specified asset for the lease term. ASC 842 also requires lessees to classify leases as either finance or operating leases based on whether or not the lease is effectively a financed purchase of the leased asset by the lessee. This classification is used to evaluate whether the lease expense should be recognized based on an effective interest method or on a straight-line basis over the term of the lease. On January 1, 2019, the Company was the lessee on two ground leases, which were classified as operating leases under ASC 840. As the Company elected the packages of practical expedients, the Company is not required to reassess the classification of these existing leases and, as such, these leases continue to be accounted for as operating leases. On January 1, 2019, the Company recognized ROU assets and lease liabilities for these leases on the Company's consolidated balance sheets, and on a go-forward basis, lease expense will be recognized on a straight-line basis over the remaining term of the lease. On January 1, 2019, the Company recorded a ROU asset of $25.5 million and a corresponding liability of approximately $27.6 million relating to the Company's existing ground lease arrangements. These operating leases were recognized based on the present value of the future minimum lease payments over the lease term. As these leases do not provide an implicit rate, the Company used its incremental borrowing rate based on the information available in determining the present value of future payments. The discount rate used to determine the present value of these operating leases’ future payments was 5.36%. There was no impact to beginning equity as a result of the adoption related to the lessee accounting as the difference between the asset and liability is attributed to derecognition of pre-existing straight-line rent balances. Upon adoption of ASC 842, the Company also elected the practical expedient to not separate non-lease components, such as common area maintenance, from associated lease components for the Company's ground and office space leases.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities ASC 815, Derivatives and Hedging (“ASC 815”) provides the disclosure requirements for derivatives and hedging activities with the intent to provide users of financial statements with an enhanced understanding of: (a) how and why an entity uses derivative instruments, (b) how the entity accounts for derivative instruments and related hedged items, and (c) how derivative instruments and related hedged items affect an entity’s financial position, financial performance, and cash flows. Further, ASC 815 requires qualitative disclosures regarding the Company’s objectives and strategies for using derivatives, as well as quantitative disclosures about the fair value of gains and losses on derivative instruments, and disclosures about credit-risk-related contingent features in derivative instruments. As required by ASC 815, the Company recorded all derivatives on the consolidated balance sheet at fair value. The accounting for changes in the fair value of derivatives depends on the intended use of the derivative, and whether the Company has elected to designate a derivative in a hedging relationship and apply hedge accounting and whether the hedging relationship has satisfied the criteria necessary to apply hedge accounting. Derivatives designated and qualifying as a hedge of the exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, are considered fair value hedges. Derivatives designated and qualifying as a hedge of the exposure to variability in expected future cash flows, or other types of forecasted transactions, are considered cash flow hedges. Hedge accounting generally provides for the matching of the timing of gain or loss recognition on the hedging instrument with the recognition of the changes in the fair value of the hedged asset or liability that are attributable to the hedged risk in a fair value hedge or the earnings effect of the hedged forecasted transactions in a cash flow hedge. The Company may enter into derivative contracts that are intended to economically hedge certain risks, even though hedge accounting does not apply or the Company elects not to apply hedge accounting. See Note 6, Interest Rate Contracts , for more detail.
Change in Consolidated Financial Statements Presentation	Change in Consolidated Financial Statements Presentation
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code (“Code”). To qualify as a REIT, the Company must meet certain organizational and operational requirements. The Company intends to adhere to these requirements and maintain its REIT status for the current year and subsequent years. As a REIT, the Company generally will not be subject to federal income taxes on taxable income that is distributed to shareholders. However, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed taxable income, if any. If the Company fails to qualify as a REIT in any taxable year, the Company will then be subject to federal income taxes on the taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service (“IRS”) grants the Company relief under certain statutory provisions. Such an event could materially adversely affect net income and net cash available to pay dividends to shareholders. As of December 31, 2023, the Company satisfied the REIT requirements and distributed all of its taxable income.
Use of Estimates	Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the unaudited consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Per Share Data	Per Share Data
Segment Information	Segment Information
Unaudited Data	Unaudited Data
Recently Issued Accounting Pronouncements and Adoption of New Accounting Pronouncements	Recently Issued Accounting Pronouncements Changes to GAAP are established by the FASB in the form of an Accounting Standards Update (“ASUs”) to the FASB’s Accounting Standards Codification. The Company considers the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not recently issued any other ASUs that the Company expects to be applicable and have a material impact on the Company's financial statements. Adoption of New Accounting Pronouncements In March 2020, the FASB issued ASU 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU 2020-04”). ASU 2020-04 provides temporary optional guidance that provides transition relief for reference rate reform, including optional expedients and exceptions for applying GAAP to contract modifications, hedging relationships and other transactions that reference LIBOR or a reference rate that is expected to be discontinued as a result of reference rate reform if certain criteria are met. ASU 2020-04 was effective upon issuance, and the provisions generally can be applied prospectively as of January 1, 2020 through December 31, 2023. During the first quarter of 2020, the Company elected to apply the hedge accounting expedients related to probability and the assessments of effectiveness for future LIBOR-indexed cash flows to assume that the index upon which future hedged transactions will be based matches the index on the corresponding derivatives. The Company has subsequently elected to apply additional expedients related to contract modifications, changes in critical terms, and updates to the designated hedged risk(s) as qualifying changes have been made to applicable debt and anticipate to be made to derivative contracts. Application of these expedients preserves the presentation of derivatives and debt contracts consistent with past presentation. In January 2021, the FASB issued ASU 2021-01, Reference Rate Reform (Topic 848): Scope, which refines the scope of Topic 848 and clarifies some of its guidance. In December 2022, the FASB issued ASU No. 2022-06, Reference Rate Reform (Topic 848) to defer the sunset date of Topic 848 from December 31, 2022 to December 31, 2024. The Company continues to evaluate the impact of the guidance and may apply other elections as applicable as additional changes in the market occur. On November 27, 2023, the FASB issued an ASU to require the disclosure of segment expenses if they are (i) significant to the segment, (ii) regularly provided to the chief operating decision maker (“CODM”), and (iii) included in each reported measure of a segment’s profit or loss. Public entities will be required to provide this disclosure quarterly. In addition, this ASU requires an annual disclosure of the CODM’s title and a description of how the CODM uses the segment’s profit/loss measure to assess segment performance and to allocate resources. Compliance with these and certain other disclosure requirements will be required for our annual report on Form 10-K for the year 2024, and for subsequent quarterly and annual reports, with early adoption permitted. The Company continues to evaluate the impact of the guidance.

Basis of Presentation and Sum_3

Basis of Presentation and Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Schedule of Restrictions on Cash and Cash Equivalents	Additionally, an ongoing replacement reserve is funded by certain tenants pursuant to such tenants respective lease as follows: Balance as of December 31, 2023 2022 Cash reserves $ 7,200 $ 4,262 Restricted lockbox 2,008 502 Total $ 9,208 $ 4,764
Schedule of Estimated Useful Lives of Assets	The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 25-40 years Building Improvements 5-20 years Land Improvements 15-25 years Tenant Improvements Shorter of estimated useful life or remaining contractual lease term Tenant Origination and Absorption Cost Remaining contractual lease term In-place Lease Valuation Remaining contractual lease term with consideration as to below-market extension options for below-market leases

Real Estate (Tables)

Real Estate (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Real Estate Properties	The following table summarizes the Company’s gross investment in real estate as of: December 31, 2023 December 31, 2022 Land $ 231,175 $ 327,408 Building and improvements 1,968,314 2,631,965 Tenant origination and absorption cost 402,251 535,889 Construction in progress 8,371 1,994 Total real estate $ 2,610,111 $ 3,497,256 The following summary presents the major components of assets and liabilities related to the real estate properties held for sale as of December 31, 2023: ASSETS As of December 31, 2023 Land $ 10,091 Building and improvements 42,678 Tenant origination and absorption cost 11,519 Total real estate 64,288 Less: accumulated depreciation (14,636) Total real estate, net 49,652 Intangible assets, net 144 Deferred rent 407 Other assets, net 8 Total real estate and other assets held for sale $ 50,211 LIABILITIES Intangible liabilities, net $ 21 Accrued expenses and other liabilities 518 Liabilities of real estate assets held for sale $ 539
Schedule of Gain (Loss) on Sale of Properties	The Company recognized a net gain of approximately $29.2 million, detailed in the table below: Sale Date Segment Location Gross Proceeds Gain (Loss) Three Months Ended March 31, 2023 January 6, 2023 Industrial Irvine, CA $ 40,000 $ 18,690 February 16, 2023 Industrial Clinton, SC 19,300 7,109 March 2, 2023 Office Herndon, VA 110,300 4,811 Total 169,600 30,610 April 13, 2023 Listing Date Three Months Ended June 30, 2023 May 9, 2023 Other Lone Tree, CO 5,600 (275) May 15, 2023 Office Houston, TX 62,300 (5,024) June 8, 2023 Other Greenwood Village, CO 5,000 (5,228) June 30, 2023 Office Andover, MA 23,700 122 June 30, 2023 Office Andover, MA 34,200 704 Total 130,800 (9,701) Three Months Ended September 30, 2023 August 16, 2023 Other Rancho Cordova, CA 8,300 3,748 Total 8,300 3,748 Three Months Ended December 31, 2023 December 15, 2023 Other Houston, TX 5,825 2,014 December 20, 2023 Office Tyler, TX 21,400 1 2,493 Total 27,225 4,507 Total for the Year Ended December 31, 2023 $ 335,925 $ 29,164 (1) The gross proceeds amount of $21.4 million is inclusive of a lease termination fee received in conjunction with the sale.
Schedule of Company's Intangibles	The following table summarizes the Company’s allocation of acquired and contributed real estate asset value to in-place lease valuation, tenant origination and absorption cost, and other intangibles, net of the write-off of intangibles for the years ended December 31, 2023 and 2022: December 31, 2023 2022 In-place lease valuation (above market) $ 22,759 $ 28,619 In-place lease valuation (above market) - accumulated amortization (16,616) (19,799) In-place lease valuation (above market), net 6,143 8,820 Intangibles - other 32,028 32,028 Intangibles - other - accumulated amortization (8,481) (6,987) Intangibles - other, net 23,547 25,041 Intangible assets, net $ 29,690 $ 33,861 In-place lease valuation (below market) $ (42,534) $ (48,686) Land leasehold interest (above market) (3,072) (3,072) In-place lease valuation & land leasehold interest - accumulated amortization 29,770 31,358 Intangibles - other (above market) (187) (258) Intangible liabilities, net $ (16,023) $ (20,658) Tenant origination and absorption cost $ 402,251 $ 535,889 Tenant origination and absorption cost - accumulated amortization (221,786) (282,383) Tenant origination and absorption cost, net $ 180,465 $ 253,506
Schedule of Estimated Annual Amortization (Income) Expense	The amortization of the intangible assets and other leasing costs for the respective periods is as follows: Amortization (income) expense for the Year Ended December 31, 2023 2022 2021 Above and below market leases, net $ (1,239) $ (2,205) $ (1,323) Tenant origination and absorption cost $ 38,305 $ 73,172 $ 78,389 Ground leasehold amortization (below market) $ (388) $ (372) $ (349) Other leasing costs amortization $ 2,013 $ 4,754 $ 6,209 The following table sets forth the estimated annual amortization (income) expense for in-place lease valuation, net, tenant origination and absorption costs, ground leasehold interest, and other leasing costs as of December 31, 2023 for the next five years: Year In-place lease valuation, net Tenant origination and absorption costs Ground leasehold interest Other leasing costs 2024 $ (1,169) $ 29,107 $ (318) $ 2,230 2025 $ (1,165) $ 26,012 $ (317) $ 2,491 2026 $ (1,073) $ 24,872 $ (317) $ 2,442 2027 $ (829) $ 23,199 $ (317) $ 2,261 2028 $ (644) $ 19,657 $ (318) $ 2,126

Investments in Unconsolidated_2

Investments in Unconsolidated Entities (Tables)	12 Months Ended
	Dec. 31, 2023
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Company's Share of Net Earnings or Losses and Reduced by Distributions	The table below summarizes the Company’s investment in the unconsolidated Office Joint Venture, which the Company determined is related to corporate activities and is excluded from its segment reporting: Office Joint Venture Investment in Office Joint Venture Balance at December 31, 2022 $ 178,647 Contributions (1) 1,960 Shortfall Loan (1) (1,960) Company’s share of net loss (3) (48,659) Company’s share of other comprehensive loss (654) Impairment provision (2) (129,334) Balance at December 31, 2023 $ — (1) Amounts represent the deemed contribution and related Shortfall Loan between the Company’s subsidiary, GRT VAO Sub, and the Funding Member of the Office Joint Venture for the Capital Call. Refer to details above. (2) Amount represents the impairment of the Company’s investment in the Office Joint Venture of $129.3 million. As of September 30, 2023, the Company also had a cumulative proportionate share of the Office Joint Venture’s accumulated other comprehensive income (“AOCI”) of $1.2 million, which was also written off in conjunction with the investment balance being impaired to zero. The write-off of the AOCI resulted in recognition of income, which was also recorded to “Net loss from investment in unconsolidated entity” for a total net loss of $128.1 million during the period. (3) The Company’s share of net loss of $48.7 million relates to the Office Joint Ventures’s activity from September 1, 2022 through June 30, 2023 (reported as of September 30, 2023, due to the recording of the Office Joint Venture’s activity on a one quarter lag). Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents the condensed balance sheet for the unconsolidated Office Joint Venture: December 31, 2023 (1)(3) December 31, 2022 (2) Assets Real estate properties, net $ 1,092,312 $ 981,354 Other assets 299,045 240,447 Total Assets $ 1,391,357 $ 1,221,801 Liabilities Mortgages payable, net $ 1,067,005 $ 856,765 Other liabilities 92,919 52,018 Total Liabilities $ 1,159,924 $ 908,783 (1) Amounts are as of September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2) Amounts are as of September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3) Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses. The table below presents condensed statements of operations of the unconsolidated Office Joint Venture: Year Ended December 31, 2023 (1) 2022 (2) Total revenues $ 195,193 $ 16,500 Expenses: Operating expenses (67,438) (5,550) General and administrative (7,210) (500) Depreciation and amortization (68,829) (9,476) Interest expense (190,350) (15,735) Other expenses, net 7,519 (387) Total Expenses (326,308) (31,648) Net Loss (3) $ (131,115) $ (15,148) (1) Amounts represent the period of October 1, 2022 to September 30, 2023 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (2) Amounts represent the period of ownership from August 26, 2022 to September 30, 2022 due to the recording of the Office Joint Venture’s activity on a one quarter lag. (3) Subsequent to the write-off of the Company’s investment in the Office Joint Venture as of September 30, 2023, the Company no longer records any equity income or losses.

Debt (Tables)

Debt (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Debt	As of December 31, 2023 and 2022, the Company’s consolidated debt consisted of the following: December 31, Contractual Interest Rate (1) Loan Maturity (2) Effective Interest Rate (3) 2023 2022 Highway 94 Mortgage Loan $ 11,709 $ 12,740 3.75% August 2024 5.06% Pepsi Bottling Ventures Loan 17,439 17,836 3.69% October 2024 3.93% AIG Loan II 119,953 122,328 4.15% November 2025 5.06% BOA II Loan 250,000 250,000 4.32% May 2028 4.14% AIG Loan 92,444 99,794 4.96% February 2029 5.10% HealthSpring Mortgage Loan — 19,107 —% (4) — —% Samsonite Loan — 17,998 —% (5) — —% Total Mortgage Debt 491,545 539,803 Revolving Loan 400,000 — SOF Rate + 1.30% (6) January 2026 (8) 7.01% 2025 Term Loan 400,000 400,000 SOF Rate + 1.25% (6) December 2025 6.92% 2026 Term Loan 150,000 150,000 SOF Rate + 1.25% (6) April 2026 6.76% 2024 Term Loan — 400,000 —% (7) — —% Total Debt 1,441,545 1,489,803 Unamortized Deferred Financing Costs and Discounts, net (5,622) (4,401) Total Debt, net $ 1,435,923 $ 1,485,402 (1) Including the effect of the interest rate swap agreements with a total notional amount of $750.0 million the weighted average interest rate as of December 31, 2023 was 4.16% for both the Company’s fixed-rate and variable-rate debt combined and 3.73% for the Company’s fixed-rate debt only. (2) Reflects the loan maturity as of December 31, 2023. (3) Reflects the effective interest rate as of December 31, 2023 and includes the effect of amortization of discounts/premiums and deferred financing costs, but excludes the effect of the interest rate swaps. (4) HealthSpring Mortgage Loan was paid off in full March 2023 and had a contractual interest rate of 4.18%. (5) Samsonite Mortgage Loan was paid off in full in September 2023 and had a contractual interest rate of 6.08%. (6) The applicable SOFR as of December 31, 2023 (assuming a five day look-back per the credit facility agreement) was 5.38%, which excludes a 0.1% per annum index adjustment as required per the Fifth Amendment to the Second Amended and Restated Credit Agreement. (7) 2024 Term Loan was paid off in full in March 2023 using proceeds from the Revolving Loan, and had a contractual interest rate of SOFR + 1.40%. (8) As of December 31, 2023, the Revolving Credit Facility has a maturity date of March 30, 2024 with two additional extension options to January 31, 2026. See discussion below.
Schedule of Future Principal Repayments of all Loans	The following summarizes the future scheduled principal repayments of all loans as of December 31, 2023 per the loan terms discussed above: As of December 31, 2023 2024 $ 34,181 2025 520,175 2026 552,834 2027 2,978 2028 253,129 Thereafter 78,248 Total principal 1,441,545 Unamortized debt premium/(discount) 657 Unamortized deferred loan costs (6,279) Total $ 1,435,923

Interest Rate Contracts (Tables

Interest Rate Contracts (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swaps	The following table sets forth a summary of the Interest Rate Swaps at December 31, 2023 and 2022: Fair Value (1) Current Notional Amounts December 31, December 31, Derivative Instrument Effective Date Maturity Date Interest Strike Rate 2023 2022 2023 2022 Assets/(Liabilities) Interest Rate Swap 3/10/2020 7/1/2025 0.83% $ 7,891 $ 12,391 $ 150,000 $ 150,000 Interest Rate Swap 3/10/2020 7/1/2025 0.84% 5,250 8,244 100,000 100,000 Interest Rate Swap 3/10/2020 7/1/2025 0.86% 3,915 6,145 75,000 75,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% 2,924 4,331 125,000 125,000 Interest Rate Swap 7/1/2020 7/1/2025 2.82% 2,331 3,444 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.83% 2,327 3,441 100,000 100,000 Interest Rate Swap 7/1/2020 7/1/2025 2.84% 2,304 3,408 100,000 100,000 Total $ 26,942 $ 41,404 $ 750,000 $ 750,000 (1) The Company records all derivative instruments on a gross basis in the consolidated balance sheets, and accordingly there are no offsetting amounts that net assets against liabilities. As of December 31, 2023, derivatives in a liability position are included in an asset or liability position are included in the line item “Other assets or Interest rate swap liability,” respectively, in the consolidated balance sheets at fair value. The SOFR rate as of December 31, 2023 (effective date) was 5.46%.
Schedule of Derivative Instruments, Gain (Loss)	The following table sets forth the impact of the Interest Rate Swaps on the consolidated statements of operations for the periods presented: Year Ended December 31, 2023 2022 2021 Interest Rate Swaps in Cash Flow Hedging Relationship: Amount of (loss) gain recognized in AOCI on derivatives $ (9,295) $ 61,126 $ (18,165) Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense” $ 23,630 $ (2,056) $ (14,284) Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded $ 65,623 $ 84,816 $ 85,087

Accrued Expenses and Other Li_2

Accrued Expenses and Other Liabilities (Tables)	12 Months Ended
	Dec. 31, 2023
Payables and Accruals [Abstract]
Schedule of Accrued Expenses and Other Liabilities	Accrued expenses and other liabilities consisted of the following as of December 31, 2023 and 2022: December 31, 2023 2022 Interest payable $ 17,073 $ 13,654 Prepaid tenant rent 9,710 12,399 Deferred compensation 9,661 8,913 Property operating expense payable 4,469 7,960 Real estate taxes payable 5,165 6,296 Redemptions payable — 4,383 Accrued construction in progress 1,183 35 Accrued tenant improvements 551 620 Other liabilities 30,417 26,542 Total $ 78,229 $ 80,802

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	12 Months Ended
	Dec. 31, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value on a Recurring Basis	The following table sets forth the assets and liabilities that the Company measures at fair value on a recurring basis by level within the fair value hierarchy as of December 31, 2023 and 2022: Assets/(Liabilities) Total Fair Value Quoted Prices in Active Markets for Identical Assets and Liabilities Significant Other Observable Inputs Significant Unobservable Inputs December 31, 2023 Interest Rate Swap Asset $ 26,942 $ — $ 26,942 $ — Mutual Funds Asset $ 7,148 $ 7,148 $ — $ — December 31, 2022 Interest Rate Swap Asset $ 41,404 $ — $ 41,404 $ — Mutual Funds Asset $ 6,191 $ 6,191 $ — $ —
Schedule of Quantitative Information Related to Non-Recurring Fair Value Measurements	The following table is a summary of the quantitative fair value information for thirteen properties using the discounted cash flow approach, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs or Input Unobservable Inputs Southwest Northeast West Southeast Market rent per square foot $16.00 - $27.00 $15.00 - $30.00 $21.00 $14.00 Discount rate 8.50% - 15.00% 8.00% - 15.00% 9.00% 15.00% Terminal capitalization rate 8.00% - 10.50% 6.50% - 9.00% 8.50% 9.00% The following table is a summary of the quantitative fair value information for four properties using estimated selling prices based on quoted market values and comparable property sales, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Southwest Northeast West Midwest Estimated selling price (per square foot) $235.00 $227.00 $30.00 $158.00 Anticipated hold period One One One One The following table is a summary of the quantitative fair value information for fifteen properties in the Other reporting unit as of the valuation date using the discounted cash flow approach, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Reporting Unit: Other Market rent per square foot $5.00 - $27.50 Discount rate 7.25% - 15.00% Terminal capitalization rate 6.25% - 9.50% The following table is a summary of the quantitative fair value information for three properties in the Other reporting unit as of the valuation date using estimated selling prices based on quoted market values and comparable property sales, which the Company considered as Level 3 measurements within the fair value hierarchy: Range of Inputs Unobservable Inputs Reporting Unit: Other Estimated selling price (per square foot) $38.92 - $74.07
Schedule of Carrying Values and Estimated Fair Values of Financial Instruments	The Company determined that the mortgage debt valuation in its entirety is classified in Level 2 of the fair value hierarchy, as the fair value is based on current pricing for debt with similar terms as the in-place debt. December 31, 2023 2022 Fair Value Carrying Value (1) Fair Value Carrying Value (1) BOA II Loan $ 220,730 $ 250,000 $ 226,361 $ 250,000 AIG Loan II 115,340 119,953 111,872 122,328 AIG Loan 92,444 92,444 89,526 99,794 Samsonite Mortgage Loan — — 17,998 17,998 HealthSpring Mortgage Loan — — 19,107 19,107 Pepsi Bottling Ventures Mortgage Loan 17,439 17,439 17,014 17,836 Highway 94 Mortgage Loan 11,709 11,709 11,941 12,740 Total $ 457,662 $ 491,545 $ 493,819 $ 539,803 (1) The carrying values do not include the debt premium/(discount) or deferred financing costs as of December 31, 2023 and 2022. See Note 5, Debt , for details.

Equity (Tables)

Equity (Tables)	12 Months Ended
	Dec. 31, 2023
Equity [Abstract]
Schedule of Stock Redemption Activity	The following table summarizes share redemption activity under the SRP during the years ended December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Common shares redeemed 941 149,730 Weighted average price per share $ 66.87 $ 66.79 (1) Does not include shares withheld (i.e., forfeited) by employees to satisfy minimum statutory tax withholding requirements associated with the vesting of RSUs.
Schedule of Unvested Shares of Restricted Stock Awards Activity	The following table summarizes the activity of unvested shares of RSU awards for the periods presented: Number of Unvested Shares of RSU Awards Weighted-Average Grant Date Fair Value per Share Balance at December 31, 2021 172,602 Granted 123,481 $ 66.87 Forfeited (9,404) $ 80.38 Vested (125,178) $ 77.68 Balance at December 31, 2022 161,501 Granted 166,321 $ 56.53 Forfeited (485) $ 63.70 Vested (1) (167,784) $ 69.02 Balance at December 31, 2023 159,553 (1) Total shares vested include 114,420 common shares withheld (i.e., forfeited) by employees during the year ended December 31, 2023 to satisfy minimum statutory tax withholding requirements associated with the vesting of RSUs.
Schedule of Distributions Paid	The following unaudited table summarizes the federal income tax treatment for all distributions and dividends declared for the years ended December 31, 2023, 2022, and 2021 reported for federal tax purposes and serves as a designation of capital gain distributions, if applicable, pursuant to Code Section 857(b)(3)(C) and Treasury Regulation §1.857-6(e). Year Ended December 31, 2023 2022 2021 Ordinary income — % — % 9 % Capital gain — % — % — % Return of capital 100 % 100 % 91 % Total 100 % 100 % 100 % Dividends declared $ 1.09 $ 3.15 $ 3.15

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2023
Noncontrolling Interest [Abstract]
Schedule of Activity for Noncontrolling Interests	The following summarizes the activity for noncontrolling interests recorded as equity for the years ended December 31, 2023 and 2022: December 31, 2023 2022 Beginning balance $ 174,655 $ 218,653 Reclass of noncontrolling interest subject to redemption 10 957 Exchange of noncontrolling interest (27,169) — Reclass of redeemable noncontrolling interest 3,801 — Distributions to noncontrolling interests (2,989) (10,942) Allocated distributions to noncontrolling interests subject to redemption (728) (17) Net loss (54,555) (39,714) Other comprehensive loss (1,396) 5,718 Ending balance $ 91,629 $ 174,655

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2023
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	Summarized below are the related party transaction costs incurred by the Company for the years ended December 31, 2023, 2022 and 2021, respectively, and any related amounts receivable and payable as of December 31, 2023 and 2022: Incurred for the Year Ended December 31, Receivable as of December 31, 2023 2022 2021 2023 2022 Due from GCC Reimbursable Expense Allocation $ — $ — $ 20 $ — $ 11 Payroll/Expense Allocation — 5 19 — 260 Total incurred/receivable $ — $ 5 $ 39 $ — $ 271 Incurred for the Year Ended December 31, Payable as of December 31, 2023 2022 2021 2023 2022 Expensed Costs advanced by the advisor $ 176 $ 705 $ 2,275 $ — $ 67 Consulting fee - shared services 1,153 1,351 2,520 — 522 Assumed through Self- Administration Transaction/Predecessor Mergers Earn-out — — — — 130 Other Distributions 2,954 8,688 8,688 573 739 Total incurred/payable $ 4,283 $ 10,744 $ 13,483 $ 573 $ 1,458

Leases (Tables)

Leases (Tables)	12 Months Ended
	Dec. 31, 2023
Leases [Abstract]
Schedule of Undiscounted Cash Flow	The following table sets forth the undiscounted cash flows for future minimum base rents to be received under operating leases as of December 31, 2023. Minimum Base Rent As of December 31, 2023 2024 $ 196,153 2025 189,046 2026 185,005 2027 166,852 2028 152,067 Thereafter 595,746 Total $ 1,484,869
Schedule of Lease, Cost	The following table sets forth the weighted-average for the lease term and the discount rate as of December 31, 2023 and 2022: As of December 31, 2023 Lease Term and Discount Rate Operating Financing Weighted-average remaining lease term in years 76.7 15.2 Weighted-average discount rate (1) 4.89% 3.36 % (1) Because the rate implicit in each of the Company's leases was not readily determinable, the Company used an incremental borrowing rate. In determining the Company's incremental borrowing rate for each lease, the Company considered recent rates on secured borrowings, observable risk-free interest rates and credit spreads correlating to the Company's creditworthiness, the impact of collateralization and the term of each of the Company's lease agreements.
Schedule of Operating Lease Liability Maturity	Maturities of lease liabilities as of December 31, 2023 were as follows: As of December 31, 2023 Operating Financing 2024 $ 1,909 $ 520 2025 1,570 365 2026 1,504 375 2027 1,527 381 2028 1,595 386 Thereafter 248,693 3,072 Total undiscounted lease payments 256,798 5,099 Less imputed interest (213,715) (1,901) Total lease liabilities $ 43,083 $ 3,198

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Schedule of Reconciliation of Segment Revenues	The following table presents segment NOI for the years ended December 31, 2023, 2022, and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Industrial NOI Total Industrial revenues $ 57,304 $ 61,347 $ 59,320 Industrial operating expenses (7,655) (7,870) (7,195) Industrial NOI 49,649 53,477 52,125 Office NOI Total Office revenues 142,734 297,110 340,265 Office operating expenses (24,295) (66,143) (80,010) Office NOI 118,439 230,967 260,255 Other NOI Total Other revenues 54,246 58,029 60,288 Other operating expenses (20,476) (19,252) (19,369) Other NOI 33,770 38,777 40,919 Total NOI $ 201,858 $ 323,221 $ 353,299 A reconciliation of net (loss) income to total NOI for the years ended December 31, 2023, 2022, and 2021 is as follows: Year Ended December 31, 2023 2022 2021 Reconciliation of Net (Loss) Income to Total NOI Net (loss) income $ (605,102) $ (441,382) $ 11,570 General and administrative expenses 42,962 38,995 39,051 Corporate operating expenses to affiliates 1,154 1,349 2,520 Impairment provision, real estate 409,512 127,577 4,242 Impairment provision, goodwill 16,031 135,270 — Depreciation and amortization 112,204 190,745 209,638 Interest expense 65,623 84,816 85,087 Debt breakage costs — 13,249 — Other loss (income), net (13,111) 943 (93) Loss (income) from investment in unconsolidated entities 176,767 9,993 (8) Loss (gain) from disposition of assets (29,164) 139,280 326 Transaction expense 24,982 22,386 966 Total NOI $ 201,858 $ 323,221 $ 353,299 The following table presents the Company’s goodwill for each of the segments as of December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Goodwill Industrial $ 68,373 $ 68,373 Office — — Other 10,274 26,305 Total Goodwill $ 78,647 $ 94,678 The following table presents the Company’s total real estate assets, net, which includes accumulated depreciation and amortization and excludes intangibles, for each segment as of December 31, 2023 and 2022: Year Ended December 31, 2023 2022 Industrial Real Estate, net Total real estate $ 741,737 $ 761,757 Accumulated depreciation and amortization (152,353) (137,738) Industrial real estate, net 589,384 624,019 Office Real Estate, net Total real estate 1,505,959 2,020,463 Accumulated depreciation and amortization (286,136) (305,829) Office real estate, net 1,219,823 1,714,634 Other Real Estate, net Total real estate 362,415 715,036 Accumulated depreciation and amortization (112,063) (201,072) Other real estate, net 250,352 513,964 Total Real Estate, net $ 2,059,559 $ 2,852,617 Total Real Estate Held for Sale, net Total real estate $ 64,289 $ 26,902 Accumulated depreciation and amortization (14,636) (7,494) Real estate held for sale, net $ 49,653 $ 19,408

Organization (Details)

Organization (Details)	12 Months Ended
	Dec. 31, 2023 real_estate_property state segment
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of operating segments | segment	3
Subsidiary, Sale of Stock [Line Items]
Number of properties	71
Number of states | state	24
Industrial
Subsidiary, Sale of Stock [Line Items]
Number of properties	19
Office
Subsidiary, Sale of Stock [Line Items]
Number of properties	35
Other
Subsidiary, Sale of Stock [Line Items]
Number of properties	17
GCEAR Operating Partnership
Subsidiary, Sale of Stock [Line Items]
Ownership interest	91.80%

Basis of Presentation and Sum_4

Basis of Presentation and Summary of Significant Accounting Policies - Restricted Cash (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 9,208	$ 4,764
Real Estate Asset Acquisitions and Contributions
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	9,208	4,764
Real Estate Asset Acquisitions and Contributions | Cash reserves
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	7,200	4,262
Real Estate Asset Acquisitions and Contributions | Restricted lockbox
Restricted Cash and Cash Equivalents Items [Line Items]
Restricted cash	$ 2,008	$ 502

Basis of Presentation and Sum_5

Basis of Presentation and Summary of Significant Accounting Policies - Property and Equipment (Details)	Dec. 31, 2023
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Estimated life of assets	25 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Estimated life of assets	40 years
Building Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated life of assets	5 years
Building Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated life of assets	20 years
Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Estimated life of assets	15 years
Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Estimated life of assets	25 years

Basis of Presentation and Sum_6

Basis of Presentation and Summary of Significant Accounting Policies - Leases (Details) $ in Thousands	Dec. 31, 2023 USD ($)	Dec. 31, 2022 USD ($)	Jan. 01, 2019 USD ($) lease
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Number of ground leases | lease			2
Right of use assets	$ 33,736	$ 35,453
Lease liability	$ 43,083
Weighted-average discount rate (percent)	4.89%		5.36%
Accounting Standards Update 2016-02
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Right of use assets			$ 25,500
Lease liability			$ 27,600

Basis of Presentation and Sum_7

Basis of Presentation and Summary of Significant Accounting Policies - Goodwill (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Goodwill impairment	$ 16,000	$ 16,031	$ 135,270	$ 0
Goodwill	78,647	78,647	94,678
Industrial
Segment Reporting Information [Line Items]
Goodwill	68,373	68,373	68,373
Other
Segment Reporting Information [Line Items]
Goodwill	10,274	$ 10,274	$ 26,305
Other
Segment Reporting Information [Line Items]
Goodwill impairment	$ 16,000

Basis of Presentation and Sum_8

Basis of Presentation and Summary of Significant Accounting Policies - Per Share Data (Details) - shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Accounting Policies [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	3,609,178	3,685,318	16,671

Basis of Presentation and Sum_9

Basis of Presentation and Summary of Significant Accounting Policies - Segment Information (Details)	12 Months Ended
	Dec. 31, 2023 segment
Accounting Policies [Abstract]
Reportable segments	3

Real Estate - Gross Investment

Real Estate - Gross Investment in Real Estate (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Abstract]
Land	$ 231,175	$ 327,408
Building and improvements	1,968,314	2,631,965
Tenant origination and absorption cost	402,251	535,889
Construction in progress	8,371	1,994
Total real estate	$ 2,610,111	$ 3,497,256

Real Estate - Narrative (Detail

Real Estate - Narrative (Details) $ in Thousands			3 Months Ended				12 Months Ended
	Dec. 27, 2022 USD ($) property	Aug. 26, 2022 USD ($) property	Dec. 31, 2023 USD ($) lease real_estate_property	Sep. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) lease property real_estate_property	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Real Estate [Line Items]
Depreciation expense							$ 72,273	$ 113,191	$ 125,388
Amortization of intangible assets							$ 39,900	77,600	84,200
Number of properties sold | property	5	41					11
Proceeds from sale of real estate	$ 170,400	$ 1,100,000	$ 27,225	$ 8,300	$ 130,800	$ 169,600	$ 335,925
Gain (loss) on sale			$ 4,507	$ 3,748	$ (9,701)	$ 30,610	29,164
Real estate impairment provision							$ 409,512	$ 127,577	$ 4,242
Number of impaired properties | property							17
Useful life							6 years 6 months	7 years 1 month 6 days
Number of properties | real_estate_property			71				71
Held-for-sale
Real Estate [Line Items]
Number of properties | lease			2				2
Office NOI
Real Estate [Line Items]
Real estate impairment provision							$ 208,300
Number of impaired properties | property							9
Number of properties | real_estate_property			35				35
Office NOI | Held-for-sale | Johnston, Iowa
Real Estate [Line Items]
Number of properties | lease			1				1
Other NOI
Real Estate [Line Items]
Real estate impairment provision							$ 201,200
Number of impaired properties | property							8
Number of properties | real_estate_property			17				17
Other NOI | Held-for-sale | Jefferson City, Missouri
Real Estate [Line Items]
Number of properties | lease			1				1

Real Estate - Dispositions of R

Real Estate - Dispositions of Real Estate (Details) - USD ($) $ in Thousands

3 Months Ended

12 Months Ended

Dec. 20, 2023

Dec. 15, 2023

Aug. 16, 2023

Jun. 30, 2023

Jun. 08, 2023

May 15, 2023

May 09, 2023

Mar. 02, 2023

Feb. 16, 2023

Jan. 06, 2023

Dec. 27, 2022

Aug. 26, 2022

Dec. 31, 2023

Sep. 30, 2023

Jun. 30, 2023

Mar. 31, 2023

Dec. 31, 2023

Real Estate [Line Items]

Gross Proceeds

$ 170,400

$ 1,100,000

$ 27,225

$ 8,300

$ 130,800

$ 169,600

$ 335,925

Gain (Loss)

$ 4,507

$ 3,748

$ (9,701)

$ 30,610

$ 29,164

Irvine, CA

Real Estate [Line Items]

Gross Proceeds

$ 40,000

Gain (Loss)

$ 18,690

Clinton, SC

Real Estate [Line Items]

Gross Proceeds

$ 19,300

Gain (Loss)

$ 7,109

Herndon, VA

Real Estate [Line Items]

Gross Proceeds

$ 110,300

Gain (Loss)

$ 4,811

Lone Tree, CO

Real Estate [Line Items]

Gross Proceeds

$ 5,600

Gain (Loss)

$ (275)

Houston, TX

Real Estate [Line Items]

Gross Proceeds

$ 5,825

$ 62,300

Gain (Loss)

$ 2,014

$ (5,024)

Greenwood Village, CO

Real Estate [Line Items]

Gross Proceeds

$ 5,000

Gain (Loss)

$ (5,228)

Andover, MA

Real Estate [Line Items]

Gross Proceeds

$ 23,700

Gain (Loss)

122

Andover, MA

Real Estate [Line Items]

Gross Proceeds

34,200

Gain (Loss)

$ 704

Rancho Cordova, CA

Real Estate [Line Items]

Gross Proceeds

$ 8,300

Gain (Loss)

$ 3,748

Tyler, TX

Real Estate [Line Items]

Gross Proceeds

$ 21,400

Gain (Loss)

2,493

Termination fee received

$ 21,400

Real Estate -Schedule of Compan

Real Estate -Schedule of Company's Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Real Estate [Abstract]
In-place lease valuation (above market)	$ 22,759	$ 28,619
In-place lease valuation (above market) - accumulated amortization	(16,616)	(19,799)
In-place lease valuation (above market), net	6,143	8,820
Intangibles - other	32,028	32,028
Intangibles - other - accumulated amortization	(8,481)	(6,987)
Intangibles - other, net	23,547	25,041
Intangible assets, net	29,690	33,861
In-place lease valuation (below market)	(42,534)	(48,686)
Land leasehold interest (above market)	(3,072)	(3,072)
In-place lease valuation & land leasehold interest - accumulated amortization	29,770	31,358
Intangibles - other (above market)	(187)	(258)
Intangible liabilities, net	(16,023)	(20,658)
Tenant origination and absorption cost	402,251	535,889
Tenant origination and absorption cost - accumulated amortization	(221,786)	(282,383)
Tenant origination and absorption cost, net	$ 180,465	$ 253,506

Real Estate - Amortization of I

Real Estate - Amortization of Intangible Assets and Other Leasing Costs (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of amortization expense
Above and below market leases, net	$ (1,239)	$ (2,205)	$ (1,323)
Tenant origination and absorption cost	38,305	73,172	78,389
Ground leasehold amortization (below market)	(388)	(372)	(349)
Other leasing costs amortization	$ 2,013	$ 4,754	$ 6,209

Real Estate - Schedule of Estim

Real Estate - Schedule of Estimated Annual Amortization (Income) Expense (Details) $ in Thousands	Dec. 31, 2023 USD ($)
In-place lease valuation, net
2024	$ (1,169)
2025	(1,165)
2026	(1,073)
2027	(829)
2028	(644)
Tenant origination and absorption costs
2024	29,107
2025	26,012
2026	24,872
2027	23,199
2028	19,657
Ground leasehold interest
2024	(318)
2025	(317)
2026	(317)
2027	(317)
2028	(318)
Other leasing costs
2024	2,230
2025	2,491
2026	2,442
2027	2,261
2028	$ 2,126

Real Estate - Schedule of Compo

Real Estate - Schedule of Components of Assets Related to Real Estate Held-for-Sale (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Land	$ 231,175	$ 327,408
Total real estate	2,610,111	3,497,256
Less: accumulated depreciation	(550,552)	(644,639)
Total real estate, net	2,059,559	2,852,617	$ 4,576,837
Intangible assets, net	29,690	33,861
Deferred rent	63,272	79,572
Total real estate and other assets held for sale	50,211	20,816
LIABILITIES
Intangible liabilities, net	16,023	20,658
Accrued expenses and other liabilities	78,229	80,802
Liabilities of real estate assets held for sale	539	$ 0
500 West Highway 94 And 8501 NW 62nd Avenue property
ASSETS
Land	10,091
Building and improvements	42,678
Tenant origination and absorption cost	11,519
Total real estate	64,288
Less: accumulated depreciation	(14,636)
Total real estate, net	49,652
Intangible assets, net	144
Deferred rent	407
Other assets, net	8
Total real estate and other assets held for sale	50,211
LIABILITIES
Intangible liabilities, net	21
Accrued expenses and other liabilities	518
Liabilities of real estate assets held for sale	$ 539

Investments in Unconsolidated_3

Investments in Unconsolidated Entities - Narrative (Details) $ in Thousands			3 Months Ended				12 Months Ended
	Dec. 27, 2022 USD ($) property	Aug. 26, 2022 USD ($) property	Dec. 31, 2023 USD ($)	Sep. 30, 2023 USD ($) parcel	Jun. 30, 2023 USD ($)	Mar. 31, 2023 USD ($)	Dec. 31, 2023 USD ($) parcel property	Dec. 31, 2022 USD ($)
Gain (Loss) on Securities [Line Items]
Number of properties sold | property	5	41					11
Proceeds from sale of real estate	$ 170,400	$ 1,100,000	$ 27,225	$ 8,300	$ 130,800	$ 169,600	$ 335,925
Payments to acquire interest in joint venture							184,200
Debt, net			1,435,923				$ 1,435,923	$ 1,485,402
The Loan
Gain (Loss) on Securities [Line Items]
Debt instrument, interest rate, increase							0.25%
Debt instrument, payments for interest rate caps							$ 6,700
The Loan | First Extension Term
Gain (Loss) on Securities [Line Items]
Debt instrument, payments for interest rate caps				$ 9,600
The Loan | SOFR
Gain (Loss) on Securities [Line Items]
Interest rate cap							0.03
Spread on LIBOR (percent)							6.574%
The Loan | SOFR | First Extension Term
Gain (Loss) on Securities [Line Items]
Spread on LIBOR (percent)				6.824%
Mortgage Loan Due 2024
Gain (Loss) on Securities [Line Items]
Debt instrument, interest rate, increase							0.25%
Mortgage Loan | The Loan
Gain (Loss) on Securities [Line Items]
Debt, net			736,000				$ 736,000
Mortgage Loan | Mortgage Loan Due 2024
Gain (Loss) on Securities [Line Items]
Debt, net			142,100				142,100
Mezzanine Loan | The Loan
Gain (Loss) on Securities [Line Items]
Term loan			$ 194,800				$ 194,800
Debt instrument extension options | parcel				2			2
Term of debt instrument				1 year			1 year
Mezzanine Loan | The Loan | SOFR
Gain (Loss) on Securities [Line Items]
Interest rate cap							0.03
Spread on LIBOR (percent)							3.635%
Mezzanine Loan | The Loan | SOFR | First Extension Term
Gain (Loss) on Securities [Line Items]
Interest rate cap				0.044
Spread on LIBOR (percent)				3.885%
Mortgage 1 Loan | Mortgage Loan Due 2024
Gain (Loss) on Securities [Line Items]
Term of debt instrument							1 year
Mortgage 1 Loan | Mortgage Loan Due 2024 | SOFR
Gain (Loss) on Securities [Line Items]
Interest rate cap							0.04
Spread on LIBOR (percent)							4.50%
GRT VAO OP, LLC
Gain (Loss) on Securities [Line Items]
Ownership interest (percent)			49%				49%
Capital call portion				$ 2,000
Office Joint Venture
Gain (Loss) on Securities [Line Items]
Other than temporary impairment				$ 129,300			$ 129,334

Investments in Unconsolidated_4

Investments in Unconsolidated Entities - Schedule of Company's Share of Net Earnings or Losses and Reduced by Distributions (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended	10 Months Ended	12 Months Ended
	Sep. 30, 2023	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Office Joint Venture
Beginning balance		$ 178,647		$ 178,647
Contributions				0	$ 34,558	$ 0
Company’s share of net loss				(176,767)	(9,993)	$ 8
Ending balance				0	178,647
Office Joint Venture
Office Joint Venture
Beginning balance		178,647		178,647
Contributions				1,960
Shortfall Loan				(1,960)
Company’s share of net loss			$ (48,700)	(48,659)
Company’s share of other comprehensive loss				(654)
Impairment provision	$ (129,300)			(129,334)
Ending balance				0	$ 178,647
Impairment provision				129,300
Equity method investments, AOCI, write-off		$ 1,200
Total net loss				$ 128,100

Investments in Unconsolidated_5

Investments in Unconsolidated Entities - Schedule of Balance Sheet for the Unconsolidated Office Joint Venture (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
ASSETS
Real estate properties, net	$ 2,059,559	$ 2,852,617	$ 4,576,837
Total assets	2,789,625	3,633,376
LIABILITIES
Total liabilities	1,585,912	1,647,241
Office Joint Venture
ASSETS
Real estate properties, net	1,092,312	981,354
Other assets	299,045	240,447
Total assets	1,391,357	1,221,801
LIABILITIES
Mortgages payable, net	1,067,005	856,765
Other liabilities	92,919	52,018
Total liabilities	$ 1,159,924	$ 908,783

Investments in Unconsolidated_6

Investments in Unconsolidated Entities - Schedule of Statements of Operations of the Unconsolidated Office Joint Venture (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Gain (Loss) on Securities [Line Items]
Total revenues	$ 254,284	$ 416,485	$ 459,872
Expenses:
General and administrative	(42,962)	(38,995)	(39,051)
Interest expense	(65,623)	(84,816)	(85,087)
Total Expenses	(618,258)	(451,930)	(362,024)
Net Loss	(557,928)	(411,909)	$ 1,629
Office Joint Venture
Gain (Loss) on Securities [Line Items]
Total revenues	195,193	16,500
Expenses:
Operating expenses	(67,438)	(5,550)
General and administrative	(7,210)	(500)
Depreciation and amortization	(68,829)	(9,476)
Interest expense	(190,350)	(15,735)
Other expenses, net	7,519	(387)
Total Expenses	(326,308)	(31,648)
Net Loss	$ (131,115)	$ (15,148)

Debt - Schedule of Debt (Detail

Debt - Schedule of Debt (Details)	1 Months Ended	12 Months Ended
	Mar. 31, 2023	Dec. 31, 2023 USD ($) d parcel	Sep. 30, 2023	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Debt outstanding		$ 1,441,545,000		$ 1,489,803,000
Unamortized Deferred Financing Costs and Discounts, net		(5,622,000)		(4,401,000)
Total		1,435,923,000		1,485,402,000
Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 491,545,000		539,803,000
Fixed and variable rate debt
Debt Instrument [Line Items]
Weighted average interest rate (percent)		4.16%
Fixed rate debt
Debt Instrument [Line Items]
Weighted average interest rate (percent)		3.73%
Interest Rate Swap
Debt Instrument [Line Items]
Derivative notional amount		$ 750,000,000
Highway 94 Mortgage Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 11,709,000		12,740,000
Contractual stated interest rate (percent)		3.75%
Effective interest rate (percent)		5.06%
Pepsi Bottling Ventures Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 17,439,000		17,836,000
Contractual stated interest rate (percent)		3.69%
Effective interest rate (percent)		3.93%
AIG Loan II | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 119,953,000		122,328,000
Contractual stated interest rate (percent)		4.15%
Effective interest rate (percent)		5.06%
BOA II Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 250,000,000		250,000,000
Contractual stated interest rate (percent)		4.32%
Effective interest rate (percent)		4.14%
AIG Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 92,444,000		99,794,000
Contractual stated interest rate (percent)		4.96%
Effective interest rate (percent)		5.10%
HealthSpring Mortgage Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 0		19,107,000
Contractual stated interest rate (percent)	4.18%	0%
Effective interest rate (percent)		0%
Samsonite Loan | Mortgages
Debt Instrument [Line Items]
Debt outstanding		$ 0		17,998,000
Contractual stated interest rate (percent)		0%	6.08%
Effective interest rate (percent)		0%
Revolving Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Debt outstanding		$ 400,000,000		0
Effective interest rate (percent)		7.01%
Threshold trading days | d		5
Index adjustment percentage		0.10%
Number of extension | parcel		2
Revolving Loan | Revolving Credit Facility | SOFR
Debt Instrument [Line Items]
Spread on SOFR (percent)	1.40%	1.30%
Revolving Loan | Revolving Credit Facility | SOFR
Debt Instrument [Line Items]
Applicable variable rate		0.0538
2025 Term Loan | Loans Payable
Debt Instrument [Line Items]
Debt outstanding		$ 400,000,000		400,000,000
Effective interest rate (percent)		6.92%
2025 Term Loan | SOFR | Loans Payable
Debt Instrument [Line Items]
Spread on SOFR (percent)		1.25%
2026 Term Loan | Loans Payable
Debt Instrument [Line Items]
Debt outstanding		$ 150,000,000		150,000,000
Effective interest rate (percent)		6.76%
2026 Term Loan | SOFR | Loans Payable
Debt Instrument [Line Items]
Spread on SOFR (percent)		1.25%
2024 Term Loan | Loans Payable
Debt Instrument [Line Items]
Debt outstanding		$ 0		$ 400,000,000
Contractual stated interest rate (percent)		0%
Effective interest rate (percent)		0%

Debt - Narrative (Details)

Debt - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) loan extensionOption	Dec. 31, 2022 USD ($)
Line of Credit Facility [Line Items]
Debt outstanding	$ 1,441,545,000	$ 1,489,803,000
Unsecured Debt | Revolving Credit Facility
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	750,000,000
Increase limit on borrowing capacity	1,000,000,000
Remaining borrowing capacity	159,100,000
Line of Credit | Line of Credit
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	1,300,000,000
2025 Term Loan | Loans Payable
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	400,000,000
Debt outstanding	$ 400,000,000	400,000,000
Term of debt instrument	5 years
2026 Term Loan | Loans Payable
Line of Credit Facility [Line Items]
Line of credit facility maximum borrowing capacity	$ 150,000,000
Debt outstanding	$ 150,000,000	150,000,000
Term of debt instrument	7 years
AIG Loans
Line of Credit Facility [Line Items]
Number of loans | loan	2
Revolving Credit Facility | Revolving Credit Facility
Line of Credit Facility [Line Items]
Debt outstanding	$ 400,000,000	$ 0
Number of extension options | extensionOption	2

Debt - Schedule of Future Princ

Debt - Schedule of Future Principal Repayments of all Loans (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Summary of future principal repayments of all loans
2024	$ 34,181
2025	520,175
2026	552,834
2027	2,978
2028	253,129
Thereafter	78,248
Total principal	1,441,545	$ 1,489,803
Unamortized debt premium/(discount)	657
Unamortized deferred loan costs	(6,279)
Total	$ 1,435,923	$ 1,485,402

Interest Rate Contracts - Sched

Interest Rate Contracts - Schedule of Interest Rate Swaps (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
SOFR
Derivative [Line Items]
Variable interest rate	5.46%
Interest Rate Swap, Effective March 10, 2020 - $150,000 Notional Amount, Interest Rate 0.83%
Derivative [Line Items]
Interest Strike Rate	0.83%
Fair Value	$ 7,891	$ 12,391
Current Notional Amounts	$ 150,000	150,000
Interest Rate Swap, Effective March 10, 2020 - $100,000 Notional Amount, Interest Rate 0.84%
Derivative [Line Items]
Interest Strike Rate	0.84%
Fair Value	$ 5,250	8,244
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap, Effective March 10, 2020 - $75,000 Notional Amount, Interest Rate 0.86%
Derivative [Line Items]
Interest Strike Rate	0.86%
Fair Value	$ 3,915	6,145
Current Notional Amounts	$ 75,000	75,000
Interest Rate Swap Effective Date July 1, 2020,$125,000 Notional Amount, Interest Rate 2.82%
Derivative [Line Items]
Interest Strike Rate	2.82%
Fair Value	$ 2,924	4,331
Current Notional Amounts	$ 125,000	125,000
Interest Rate Swap Effective Date July 1, 2020,$100,000 Notional Amount, Interest Rate 2.82%
Derivative [Line Items]
Interest Strike Rate	2.82%
Fair Value	$ 2,331	3,444
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap, Effective July 1, 2020 - $100,000 Notional Amount, Interest Rate 2.83%
Derivative [Line Items]
Interest Strike Rate	2.83%
Fair Value	$ 2,327	3,441
Current Notional Amounts	$ 100,000	100,000
Interest Rate Swap, Effective July 1, 2020 - $100,000 Notional Amount, Interest Rate 2.84%
Derivative [Line Items]
Interest Strike Rate	2.84%
Fair Value	$ 2,304	3,408
Current Notional Amounts	100,000	100,000
Interest Rate Swap
Derivative [Line Items]
Fair Value	26,942	41,404
Current Notional Amounts	$ 750,000	$ 750,000

Interest Rate Contracts - Sch_2

Interest Rate Contracts - Schedule of Derivative Instruments, Gain (Loss) (Details) - Cash Flow Hedging - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Amount of (loss) gain recognized in AOCI on derivatives	$ (9,295)	$ 61,126	$ (18,165)
Amount of (gain) loss reclassified from AOCI into earnings under “Interest expense”	23,630	(2,056)	(14,284)
Total interest expense presented in the consolidated statement of operations in which the effects of cash flow hedges are recorded	$ 65,623	$ 84,816	$ 85,087

Interest Rate Contracts - Narra

Interest Rate Contracts - Narrative (Details) $ in Millions	Dec. 31, 2023 USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Amount expected to be reclassified next 12 months	$ 26.9

Accrued Expenses and Other Li_3

Accrued Expenses and Other Liabilities-Schedule of Accrued Expenses and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Payables and Accruals [Abstract]
Interest payable	$ 17,073	$ 13,654
Prepaid tenant rent	9,710	12,399
Deferred compensation	9,661	8,913
Property operating expense payable	4,469	7,960
Real estate taxes payable	5,165	6,296
Redemptions payable	0	4,383
Accrued construction in progress	1,183	35
Accrued tenant improvements	551	620	$ 10,123
Other liabilities	30,417	26,542
Total	$ 78,229	$ 80,802

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value on a Recurring Basis (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	$ 26,942	$ 41,404
Recurring basis
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mutual Funds Asset	7,148	6,191
Recurring basis | Quoted Prices in Active Markets for Identical Assets and Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mutual Funds Asset	7,148	6,191
Recurring basis | Significant Other Observable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mutual Funds Asset	0	0
Recurring basis | Significant Unobservable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mutual Funds Asset	0	0
Recurring basis | Interest Rate Swap
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	26,942	41,404
Recurring basis | Interest Rate Swap | Quoted Prices in Active Markets for Identical Assets and Liabilities
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	0	0
Recurring basis | Interest Rate Swap | Significant Other Observable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	26,942	41,404
Recurring basis | Interest Rate Swap | Significant Unobservable Inputs
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Interest Rate Swap Asset	$ 0	$ 0

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details) $ in Thousands	3 Months Ended		12 Months Ended
	Dec. 31, 2023 USD ($) property	Sep. 30, 2023 USD ($)	Dec. 31, 2023 USD ($) property loan	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)	Oct. 01, 2023 property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate impairment provision | $			$ 409,512	$ 127,577	$ 4,242
Number of impaired properties			17
Number of mortgage loans (in loan) | loan			7
Assets evaluated using discounted cash flow analyses	13		13
Assets evaluated using estimated selling price per share	4		4
Impairment provision - goodwill | $	$ 16,000		$ 16,031	$ 135,270	$ 0
Minimum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current borrowing rate for debt instruments (as a percent)	3.75%		3.75%
Maximum
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Current borrowing rate for debt instruments (as a percent)	8.20%		8.20%
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets evaluated using discounted cash flow analyses						15
Assets evaluated using estimated selling price per share	3		3
Impairment provision - goodwill | $	$ 16,000
Office Joint Venture
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Other than temporary impairment | $		$ 129,300	$ 129,334
Office
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate impairment provision | $			$ 208,300
Number of impaired properties			9
Other
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate impairment provision | $			$ 201,200
Number of impaired properties			8

Fair Value Measurements - Non-r

Fair Value Measurements - Non-recurring Fair Value Measurements for Impairment (Details)		12 Months Ended
	Oct. 01, 2023 USD ($) $ / shares	Dec. 31, 2023 USD ($) $ / shares
Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $		$ 235
Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $		227
West
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $		30
Midwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $		$ 158
Minimum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $	$ 38.92
Maximum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Estimated selling price (in usd per square foot) | $	$ 74.07
Market rent per square foot | West
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		21
Market rent per square foot | Southeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		14
Market rent per square foot | Minimum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	5
Market rent per square foot | Minimum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		16
Market rent per square foot | Minimum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		15
Market rent per square foot | Maximum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	27.50
Market rent per square foot | Maximum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		27
Market rent per square foot | Maximum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Market rent (in usd per square foot)		30
Discount rate | West
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0900
Discount rate | Southeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.1500
Discount rate | Minimum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	0.0725
Discount rate | Minimum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0850
Discount rate | Minimum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0800
Discount rate | Maximum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	0.1500
Discount rate | Maximum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.1500
Discount rate | Maximum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.1500
Terminal capitalization rate | West
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0850
Terminal capitalization rate | Southeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0900
Terminal capitalization rate | Minimum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	0.0625
Terminal capitalization rate | Minimum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0800
Terminal capitalization rate | Minimum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0650
Terminal capitalization rate | Maximum | Other
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Goodwill, measurement input	0.0950
Terminal capitalization rate | Maximum | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.1050
Terminal capitalization rate | Maximum | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Range of inputs (percent)		0.0900
Anticipated hold period | Southwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Anticipated hold period		1 year
Anticipated hold period | Northeast
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Anticipated hold period		1 year
Anticipated hold period | West
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Anticipated hold period		1 year
Anticipated hold period | Midwest
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Anticipated hold period		1 year

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Carrying Values and Estimated Fair Values of Financial Instruments (Details) - Mortgages - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	$ 457,662	$ 493,819
Fair Value | BOA II Loan | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	220,730	226,361
Fair Value | AIG Loan II | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	115,340	111,872
Fair Value | AIG Loan | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	92,444	89,526
Fair Value | Samsonite Loan | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	0	17,998
Fair Value | HealthSpring Mortgage Loan | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	0	19,107
Fair Value | Pepsi Bottling Ventures | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	17,439	17,014
Fair Value | Highway 94 Mortgage Loan | Fair Value, Inputs, Level 2
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	11,709	11,941
Carrying Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	491,545	539,803
Carrying Value | BOA II Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	250,000	250,000
Carrying Value | AIG Loan II
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	119,953	122,328
Carrying Value | AIG Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	92,444	99,794
Carrying Value | Samsonite Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	0	17,998
Carrying Value | HealthSpring Mortgage Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	0	19,107
Carrying Value | Pepsi Bottling Ventures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	17,439	17,836
Carrying Value | Highway 94 Mortgage Loan
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage loans	$ 11,709	$ 12,740

Equity - Narrative (Details)

Equity - Narrative (Details) $ / shares in Units, $ in Thousands

1 Months Ended

12 Months Ended

113 Months Ended

Apr. 12, 2023 USD ($) shares

Apr. 10, 2023 USD ($)

Mar. 10, 2023

Aug. 08, 2018 $ / shares shares

Aug. 31, 2023 USD ($)

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2022 USD ($) $ / shares shares

Dec. 31, 2023 USD ($) $ / shares shares

Dec. 31, 2021 shares

Dec. 31, 2020 shares

Oct. 29, 2020 shares

Apr. 30, 2019 shares

Jun. 30, 2015 shares

Class of Stock [Line Items]

Reverse stock split

0.1111

Common stock, number of shares outstanding (in shares) | shares

36,304,145

35,999,898

36,304,145

Proceeds from issuance of equity

$ 2,800,000

Shares issued

$ 36

$ 36

$ 36

Deferred offering costs written off

5,000

Amount of dividends in arrears

2,400

RSUs

Class of Stock [Line Items]

Total compensation expense

$ 12,000

$ 9,600

RSUs | Amended and Restated Plan

Class of Stock [Line Items]

Number of shares authorized (in shares) | shares

777,778

777,778

Number of remaining shares authorized (in shares) | shares

167,185

167,185

Restricted Stock

Class of Stock [Line Items]

Costs not yet recognized

$ 8,200

$ 8,200

Restricted Stock | Minimum

Class of Stock [Line Items]

Recognition period for unrecognized expense

1 year

Restricted Stock | Maximum

Class of Stock [Line Items]

Recognition period for unrecognized expense

2 years

Common Shares

Class of Stock [Line Items]

Common stock, number of shares outstanding (in shares) | shares

36,304,145

35,999,898

36,304,145

36,070,902

25,591,187

Stock redeemed during period (in shares) | shares

941

149,730

Weighted average price per share (in usd per share) | $ / shares

$ 66.87

$ 66.79

Share Redemption Program

Class of Stock [Line Items]

Stock repurchase program, quarterly authorized amount

$ 5,000

$ 5,000

Stock repurchase program, annual authorized amount, percentage of weighted average shares outstanding

5%

Share Redemption Program | Common Shares

Class of Stock [Line Items]

Stock redeemed during period (in shares) | shares

3,295,618

Stock redeemed, value

$ 275,500

Weighted average price per share (in usd per share) | $ / shares

$ 83.60

ATM Program

Class of Stock [Line Items]

Value of shares authorized

$ 200,000

Distribution Reinvestment Plan

Class of Stock [Line Items]

Shares issued

$ 341,100

$ 341,100

$ 341,100

Common Class E | Primary offering

Class of Stock [Line Items]

Stock issued (in shares) | shares

10,384,185

19,442,394

4,863,623

Series A Preferred Shares

Class of Stock [Line Items]

Stock redeemed during period (in shares) | shares

5,000,000

Stock redeemed, value

$ 125,000

Redemption payments

$ 2,400

Aggregate number of shares purchased (in shares) | shares

5,000,000

Stock price (in usd per share) | $ / shares

$ 25

Stock redeemed or called during period, waived redemption fee

$ 1,900

Series A Preferred Shares | Series A Purchase Agreement

Class of Stock [Line Items]

Quarterly distribution as a percentage of applicable varying rate (percent)

25%

Equity - Schedule of Redemption

Equity - Schedule of Redemption Activity (Details) - Common Shares - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Class of Stock [Line Items]
Common shares redeemed (in shares)	941	149,730
Weighted average price per share (in usd per share)	$ 66.87	$ 66.79

Equity - Schedule of Unvested S

Equity - Schedule of Unvested Shares of Restricted Stock Awards Activity (Details) - RSUs - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Number of Unvested Shares of RSU Awards
Balance at beginning of period (in shares)	161,501	172,602
Granted (in shares)	166,321	123,481
Forfeited (in shares)	(485)	(9,404)
Vested (in shares)	(167,784)	(125,178)
Balance at end of period (in shares)	159,553	161,501
Weighted-Average Grant Date Fair Value per Share
Granted (in usd per share)	$ 56.53	$ 66.87
Forfeited (in usd per share)	63.70	80.38
Vested (in usd per share)	$ 69.02	$ 77.68
Shares tendered by employees to satisfy employee tax withholding requirements upon vesting of restricted stock awards (in shares)	114,420

Equity - Schedule of Distributi

Equity - Schedule of Distributions Paid (Details) - $ / shares	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Equity [Abstract]
Ordinary income (percent)	0%	0%	9%
Capital gain (percent)	0%	0%	0%
Return of capital (percent)	100%	100%	91%
Total distributions paid (percent)	100%	100%	100%
Dividends declared (in usd per share)	$ 1.09	$ 3.15	$ 3.15

Noncontrolling Interests - Narr

Noncontrolling Interests - Narrative (Details)			12 Months Ended
	Dec. 15, 2023 shares	Mar. 10, 2023	Dec. 31, 2023 installment shares
Noncontrolling Interest [Line Items]
Percentage of noncontrolling interest based on weighted average shares (percent)			8.80%
Limited partnership units issued (in shares)			3,200,000
Implied EA-1 operating partnership units issued in consideration (in shares)			20,000
Reverse stock split		0.1111
Number of annual installments for awards settlement | installment			4
Limited partnership redeem (in shares)	209,954
Mr. Escalante
Noncontrolling Interest [Line Items]
Stock available for distributions (in shares)	56,266
Mr. Bitar
Noncontrolling Interest [Line Items]
Stock available for distributions (in shares)	2,000
Griffin Capital, LLC
Noncontrolling Interest [Line Items]
Units received (in shares)			2,700,000
Reverse stock split			9
Units received, percentage			50%
Griffin Capital Essential Asset Operating Partnership, L.P.
Noncontrolling Interest [Line Items]
Percentage of noncontrolling interests based on total shares (percent)			8.20%

Noncontrolling Interests - Sche

Noncontrolling Interests - Schedule of Activity for Noncontrolling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 174,655
Reclass of noncontrolling interest subject to redemption	10	$ 957	$ (159)
Exchange of noncontrolling interest	0
Reclass of redeemable noncontrolling interest	3,801
Distributions to noncontrolling interest	(2,989)	(10,942)	(10,942)
Allocated distributions to noncontrolling interests subject to redemption	(728)	(17)	(18)
Net loss	(612,483)	(451,623)	1,695
Other comprehensive loss	(16,215)	65,062	32,449
Ending balance	91,629	174,655
Non-controlling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	174,655	218,653
Reclass of noncontrolling interest subject to redemption	10	957	(159)
Exchange of noncontrolling interest	(27,169)	0
Reclass of redeemable noncontrolling interest	3,801	0
Distributions to noncontrolling interest	(2,989)	(10,942)	(10,942)
Allocated distributions to noncontrolling interests subject to redemption	(728)	(17)	(18)
Net loss	(54,555)	(39,714)	66
Other comprehensive loss	(1,396)	5,718	3,156
Ending balance	$ 91,629	$ 174,655	$ 218,653

Related Party Transactions - Sc

Related Party Transactions - Schedule of Related Party Transactions (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Related Party Transaction [Line Items]
Total revenues	$ 254,284	$ 416,485	$ 459,872
Total expenses	618,258	451,930	362,024
Related Party
Related Party Transaction [Line Items]
Total expenses	4,283	10,744	13,483
Payables	573	1,458
Related Party | GCC
Related Party Transaction [Line Items]
Total revenues	0	5	39
Rseceivable	0	271
Related Party | Reimbursable Expense Allocation | GCC
Related Party Transaction [Line Items]
Total revenues	0	0	20
Rseceivable	0	11
Related Party | Payroll/Expense Allocation | GCC
Related Party Transaction [Line Items]
Total revenues	0	5	19
Rseceivable	0	260
Related Party | Costs advanced by the advisor
Related Party Transaction [Line Items]
Total expenses	176	705	2,275
Payables	0	67
Related Party | Consulting fee - shared services
Related Party Transaction [Line Items]
Total expenses	1,153	1,351	2,520
Payables	0	522
Related Party | Earn-out
Related Party Transaction [Line Items]
Total expenses	0	0	0
Payables	0	130
Related Party | Distributions
Related Party Transaction [Line Items]
Total expenses	2,954	8,688	$ 8,688
Payables	$ 573	$ 739

Related Party Transactions - Na

Related Party Transactions - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Mar. 25, 2022
Related Party Transaction [Line Items]
Right of use assets	$ 33,736	$ 35,453
Lease liability	43,083
Related Party
Related Party Transaction [Line Items]
Operating sublease monthly base rent			$ 50
Sublease rent annual escalations percentage			3%
GCC | Related Party
Related Party Transaction [Line Items]
Right of use assets	300
Lease liability	$ 300

Leases - Narrative (Details)

Leases - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) lease option office_space	Dec. 31, 2022 USD ($)	Dec. 31, 2021 USD ($)
Leases [Abstract]
Lease income	$ 219.6	$ 343.3	$ 378.3
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total revenues	Total revenues	Total revenues
Number of ground leases classified as operating | lease	3
Number of ground leases classified as financing | lease	2
Options to renew | option	0
Number of office space | office_space	2
Operating lease cost	$ 3.9	$ 4.1
Operating lease payments	$ 2.1	$ 2.1

Leases - Schedule of Undiscount

Leases - Schedule of Undiscounted Cash Flow (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Leases [Abstract]
2024	$ 196,153
2025	189,046
2026	185,005
2027	166,852
2028	152,067
Thereafter	595,746
Total	$ 1,484,869

Leases - Schedule of Lease, Cos

Leases - Schedule of Lease, Cost (Details)	Dec. 31, 2023	Jan. 01, 2019
Leases [Abstract]
Operating lease, Weighted-average remaining lease term in years	76 years 8 months 12 days
Operating lease, Weighted-average discount rate (percent)	4.89%	5.36%
Finance lease, Weighted-average remaining lease term in years	15 years 2 months 12 days
Finance lease, Weighted-average discount rate (percent)	3.36%

Leases - Schedule of Operating

Leases - Schedule of Operating Lease Liability Maturity (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Operating
2024	$ 1,909
2025	1,570
2026	1,504
2027	1,527
2028	1,595
Thereafter	248,693
Total undiscounted lease payments	256,798
Less imputed interest	(213,715)
Total lease liabilities	$ 43,083
Operating Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liability
Financing
2024	$ 520
2025	365
2026	375
2027	381
2028	386
Thereafter	3,072
Total undiscounted lease payments	5,099
Less imputed interest	(1,901)
Total lease liabilities	$ 3,198
Finance Lease, Liability, Statement of Financial Position [Extensible Enumeration]	Lease liability

Commitments and Contingencies (

Commitments and Contingencies (Details) $ in Millions	Dec. 31, 2023 USD ($)
Capital Expenditures, Leasing Commissions and Tenant Improvement Commitment
Other Commitments [Line Items]
Other commitment	$ 15.7

Segment Reporting (Details)

Segment Reporting (Details)	3 Months Ended	12 Months Ended
	Dec. 31, 2022 property_type	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of property types in real estate portfolio | property_type	3
Reportable segments | segment		3

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment NOI (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Revenues	$ 254,284	$ 416,485	$ 459,872
Total NOI	201,858	323,221	353,299
Industrial NOI
Segment Reporting Information [Line Items]
Revenues	57,304	61,347	59,320
Operating expenses	(7,655)	(7,870)	(7,195)
Total NOI	49,649	53,477	52,125
Office NOI
Segment Reporting Information [Line Items]
Revenues	142,734	297,110	340,265
Operating expenses	(24,295)	(66,143)	(80,010)
Total NOI	118,439	230,967	260,255
Other NOI
Segment Reporting Information [Line Items]
Revenues	54,246	58,029	60,288
Operating expenses	(20,476)	(19,252)	(19,369)
Total NOI	$ 33,770	$ 38,777	$ 40,919

Segment Reporting - Reconcili_2

Segment Reporting - Reconciliation of Net Income to Total NOI (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Net (loss) income		$ (605,102)	$ (441,382)	$ 11,570
General and administrative expenses		42,962	38,995	39,051
Corporate operating expenses to affiliates		1,154	1,349	2,520
Impairment provision, real estate		409,512	127,577	4,242
Impairment provision, goodwill	$ 16,000	16,031	135,270	0
Depreciation and amortization		112,204	190,745	209,638
Interest expense		65,623	84,816	85,087
Debt breakage costs		0	13,249	0
Other loss (income), net		(13,111)	943	(93)
Loss (income) from investment in unconsolidated entities		176,767	9,993	(8)
Loss (gain) from disposition of assets		(29,164)	139,280	326
Transaction expense		24,982	22,386	966
Total NOI		$ 201,858	$ 323,221	$ 353,299

Segment Reporting - Allocation

Segment Reporting - Allocation for Each Segments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenue, Major Customer [Line Items]
Total Goodwill	$ 78,647	$ 94,678
Total real estate	2,610,111	3,497,256
Less: accumulated depreciation and amortization	(550,552)	(644,639)
Total real estate, net	2,059,559	2,852,617	$ 4,576,837
Held-for-sale
Revenue, Major Customer [Line Items]
Total real estate	64,289	26,902
Less: accumulated depreciation and amortization	(14,636)	(7,494)
Total real estate, net	49,653	19,408
Industrial
Revenue, Major Customer [Line Items]
Total Goodwill	68,373	68,373
Total real estate	741,737	761,757
Less: accumulated depreciation and amortization	(152,353)	(137,738)
Total real estate, net	589,384	624,019
Office
Revenue, Major Customer [Line Items]
Total Goodwill	0	0
Total real estate	1,505,959	2,020,463
Less: accumulated depreciation and amortization	(286,136)	(305,829)
Total real estate, net	1,219,823	1,714,634
Other
Revenue, Major Customer [Line Items]
Total Goodwill	10,274	26,305
Total real estate	362,415	715,036
Less: accumulated depreciation and amortization	(112,063)	(201,072)
Total real estate, net	$ 250,352	$ 513,964

Declaration of Dividends (Detai

Declaration of Dividends (Details) - $ / shares	Nov. 07, 2023	Aug. 02, 2023	Jun. 20, 2023	Mar. 14, 2023	Feb. 16, 2023	Jan. 20, 2023
Declaration of Dividends [Abstract]
Cash distributions declared per common share per day (in usd per share)					$ 0.002465753	$ 0.008630136
Common stock dividends, annualized equivalent (in usd per share)					$ 0.90	$ 3.15
Dividends per share declared (in usd per share)	$ 0.225	$ 0.225	$ 0.225	$ 0.075

Subsequent Events (Details)

Subsequent Events (Details) $ / shares in Units, $ in Thousands

3 Months Ended

12 Months Ended

Feb. 21, 2024 $ / shares

Jan. 31, 2024 USD ($) Property

Nov. 07, 2023 $ / shares

Aug. 02, 2023 $ / shares

Jun. 20, 2023 $ / shares

Mar. 14, 2023 $ / shares

Dec. 27, 2022 USD ($) property

Aug. 26, 2022 USD ($) property

Dec. 31, 2023 USD ($)

Sep. 30, 2023 USD ($)

Jun. 30, 2023 USD ($)

Mar. 31, 2023 USD ($)

Dec. 31, 2023 USD ($) property

Subsequent Event [Line Items]

Number of properties sold | property

5

41

11

Proceeds from sale of real estate

$ 170,400

$ 1,100,000

$ 27,225

$ 8,300

$ 130,800

$ 169,600

$ 335,925

Dividends per share declared (in usd per share) | $ / shares

$ 0.225

$ 0.225

$ 0.225

$ 0.075

Subsequent Event

Subsequent Event [Line Items]

Dividends per share declared (in usd per share) | $ / shares

$ 0.225

Subsequent Event | Office

Subsequent Event [Line Items]

Number of properties sold | Property

1

Proceeds from sale of real estate

$ 30,000

Subsequent Event | Office | Notes Payable

Subsequent Event [Line Items]

Debt issued

$ 15,000

Term of debt instrument

1 year

Schedule III - Real Estate As_2

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization - Schedule III (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 479,836
Land	281,091
Building and Improvements	2,635,405
Building and Improvements	(256,469)
Land	231,175
Building and Improvements	2,378,936
Total	2,610,111	$ 3,497,256	$ 5,570,160	$ 4,310,302
Accumulated Depreciation and Amortization	550,552	$ 644,639	$ 993,323	$ 817,773
Aggregate cost of real estate owned for income tax purposes	2,800,000
Held-for-sale
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,709
Land	12,049
Building and Improvements	66,203
Building and Improvements	(12,005)
Land	10,091
Building and Improvements	54,198
Total	64,289
Accumulated Depreciation and Amortization	14,636
Industrial
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	267,439
Land	76,873
Building and Improvements	614,448
Building and Improvements	50,416
Land	76,873
Building and Improvements	664,864
Total	741,737
Accumulated Depreciation and Amortization	152,353
Industrial | Hopkins
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	274
Building and Improvements	7,567
Building and Improvements	963
Land	274
Building and Improvements	8,530
Total	8,804
Accumulated Depreciation and Amortization	$ 3,667
Industrial | Hopkins | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Hopkins | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | TransDigm
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,773
Building and Improvements	9,030
Building and Improvements	411
Land	3,773
Building and Improvements	9,441
Total	13,214
Accumulated Depreciation and Amortization	$ 3,694
Industrial | TransDigm | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | TransDigm | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Berry Global
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,674
Building and Improvements	13,229
Building and Improvements	1,901
Land	2,674
Building and Improvements	15,130
Total	17,804
Accumulated Depreciation and Amortization	$ 5,539
Industrial | Berry Global | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Berry Global | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Amazon - Arlington Heights
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Land	7,697
Building and Improvements	21,843
Building and Improvements	5,879
Land	7,697
Building and Improvements	27,722
Total	35,419
Accumulated Depreciation and Amortization	$ 10,236
Industrial | Amazon - Arlington Heights | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Amazon - Arlington Heights | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Roush Industries
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	875
Building and Improvements	11,375
Building and Improvements	2,632
Land	875
Building and Improvements	14,007
Total	14,882
Accumulated Depreciation and Amortization	$ 4,983
Industrial | Roush Industries | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Roush Industries | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Samsonite
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,040
Building and Improvements	42,490
Building and Improvements	268
Land	5,040
Building and Improvements	42,758
Total	47,798
Accumulated Depreciation and Amortization	$ 12,283
Industrial | Samsonite | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Samsonite | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | RH
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	15,463
Building and Improvements	36,613
Building and Improvements	37,692
Land	15,463
Building and Improvements	74,305
Total	89,768
Accumulated Depreciation and Amortization	$ 28,707
Industrial | RH | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | RH | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | PepsiCo
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,433
Building and Improvements	55,341
Building and Improvements	181
Land	5,433
Building and Improvements	55,522
Total	60,955
Accumulated Depreciation and Amortization	$ 9,866
Industrial | PepsiCo | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | PepsiCo | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Shaw Industries
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,465
Building and Improvements	57,116
Building and Improvements	0
Land	5,465
Building and Improvements	57,116
Total	62,581
Accumulated Depreciation and Amortization	$ 10,063
Industrial | Shaw Industries | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Shaw Industries | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Huntington Ingalls
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,100
Building and Improvements	15,903
Building and Improvements	116
Land	3,100
Building and Improvements	16,019
Total	19,119
Accumulated Depreciation and Amortization	$ 3,781
Industrial | Huntington Ingalls | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Huntington Ingalls | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Huntington Ingalls
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,113
Building and Improvements	15,968
Building and Improvements	95
Land	3,113
Building and Improvements	16,063
Total	19,176
Accumulated Depreciation and Amortization	$ 3,797
Industrial | Huntington Ingalls | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Huntington Ingalls | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | OceanX
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	978
Building and Improvements	16,705
Building and Improvements	0
Land	978
Building and Improvements	16,705
Total	17,683
Accumulated Depreciation and Amortization	$ 4,560
Industrial | OceanX | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | OceanX | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Atlas Copco
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,156
Building and Improvements	19,802
Building and Improvements	0
Land	1,156
Building and Improvements	19,802
Total	20,958
Accumulated Depreciation and Amortization	$ 4,829
Industrial | Atlas Copco | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Atlas Copco | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | ZF Wabco
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,226
Building and Improvements	14,662
Building and Improvements	279
Land	1,226
Building and Improvements	14,941
Total	16,167
Accumulated Depreciation and Amortization	$ 2,476
Industrial | ZF Wabco | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | ZF Wabco | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | 3M
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 250,000
Land	5,802
Building and Improvements	82,148
Building and Improvements	(1)
Land	5,802
Building and Improvements	82,147
Total	87,949
Accumulated Depreciation and Amortization	$ 12,254
Industrial | 3M | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | 3M | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Amazon - Etna
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,773
Building and Improvements	107,021
Building and Improvements	0
Land	4,773
Building and Improvements	107,021
Total	111,794
Accumulated Depreciation and Amortization	$ 18,987
Industrial | Amazon - Etna | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Amazon - Etna | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Pepsi Bottling Ventures
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 17,439
Land	3,407
Building and Improvements	32,737
Building and Improvements	0
Land	3,407
Building and Improvements	32,737
Total	36,144
Accumulated Depreciation and Amortization	$ 4,478
Industrial | Pepsi Bottling Ventures | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Pepsi Bottling Ventures | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Fidelity Building Services
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,662
Building and Improvements	11,181
Building and Improvements	0
Land	1,662
Building and Improvements	11,181
Total	12,843
Accumulated Depreciation and Amortization	$ 1,197
Industrial | Fidelity Building Services | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Fidelity Building Services | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Industrial | Amazon - Etna
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,962
Building and Improvements	43,717
Building and Improvements	0
Land	4,962
Building and Improvements	43,717
Total	48,679
Accumulated Depreciation and Amortization	$ 6,956
Industrial | Amazon - Etna | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Industrial | Amazon - Etna | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	135,090
Building and Improvements	1,544,200
Building and Improvements	(159,993)
Land	121,752
Building and Improvements	1,384,207
Total	1,505,959
Accumulated Depreciation and Amortization	286,136
Office | AT&T (14500 NE 87th Street)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	2,607
Building and Improvements	12,483
Building and Improvements	953
Land	2,607
Building and Improvements	13,436
Total	16,043
Accumulated Depreciation and Amortization	$ 5,138
Office | AT&T (14500 NE 87th Street) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | AT&T (14500 NE 87th Street) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | AT&T (14520 NE 87th Street)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,599
Building and Improvements	12,448
Building and Improvements	615
Land	2,599
Building and Improvements	13,063
Total	15,662
Accumulated Depreciation and Amortization	$ 6,493
Office | AT&T (14520 NE 87th Street) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | AT&T (14520 NE 87th Street) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | AT&T (14560 NE 87th Street)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,564
Building and Improvements	7,490
Building and Improvements	776
Land	1,564
Building and Improvements	8,266
Total	9,830
Accumulated Depreciation and Amortization	$ 2,436
Office | AT&T (14560 NE 87th Street) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | AT&T (14560 NE 87th Street) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | PPG
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,650
Building and Improvements	26,745
Building and Improvements	54
Land	2,650
Building and Improvements	26,799
Total	29,449
Accumulated Depreciation and Amortization	$ 11,204
Office | PPG | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | PPG | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | York Space Systems (East Village)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,600
Building and Improvements	13,500
Building and Improvements	11,191
Land	2,600
Building and Improvements	24,691
Total	27,291
Accumulated Depreciation and Amortization	$ 9,697
Office | York Space Systems (East Village) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | York Space Systems (East Village) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Maxar Technologies
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	8,600
Building and Improvements	83,400
Building and Improvements	0
Land	8,600
Building and Improvements	83,400
Total	92,000
Accumulated Depreciation and Amortization	$ 31,897
Office | Maxar Technologies | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Maxar Technologies | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Spectrum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,000
Building and Improvements	16,772
Building and Improvements	0
Land	1,000
Building and Improvements	16,772
Total	17,772
Accumulated Depreciation and Amortization	$ 7,072
Office | Spectrum | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Spectrum | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Amentum (Heritage II)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,955
Building and Improvements	15,540
Building and Improvements	(3,438)
Land	649
Building and Improvements	12,102
Total	12,751
Accumulated Depreciation and Amortization	$ 3,672
Office | Amentum (Heritage II) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Amentum (Heritage II) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | 530 Great Circle Road
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,724
Building and Improvements	18,281
Building and Improvements	6,169
Land	4,724
Building and Improvements	24,450
Total	29,174
Accumulated Depreciation and Amortization	$ 5,729
Office | 530 Great Circle Road | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | 530 Great Circle Road | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Cigna (500 Great Circle Road)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,402
Building and Improvements	13,166
Building and Improvements	404
Land	3,402
Building and Improvements	13,570
Total	16,972
Accumulated Depreciation and Amortization	$ 4,322
Office | Cigna (500 Great Circle Road) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Cigna (500 Great Circle Road) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | LPL (1055 & 1060 LPL Way)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,612
Building and Improvements	86,352
Building and Improvements	0
Land	4,612
Building and Improvements	86,352
Total	90,964
Accumulated Depreciation and Amortization	$ 15,412
Office | LPL (1055 & 1060 LPL Way) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | LPL (1055 & 1060 LPL Way) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | LPL (1040 LPL Way)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,273
Building and Improvements	41,509
Building and Improvements	0
Land	1,273
Building and Improvements	41,509
Total	42,782
Accumulated Depreciation and Amortization	$ 7,407
Office | LPL (1040 LPL Way) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | LPL (1040 LPL Way) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | McKesson (5601 N. Pima Road)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	159
Building and Improvements	35,490
Building and Improvements	1,362
Land	159
Building and Improvements	36,852
Total	37,011
Accumulated Depreciation and Amortization	$ 13,206
Office | McKesson (5601 N. Pima Road) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | McKesson (5601 N. Pima Road) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | OnSemi (5701 N. Pima Road)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	153
Building and Improvements	34,270
Building and Improvements	6,253
Land	153
Building and Improvements	40,523
Total	40,676
Accumulated Depreciation and Amortization	$ 12,939
Office | OnSemi (5701 N. Pima Road) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | OnSemi (5701 N. Pima Road) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Travel & Leisure, Co.
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	9,677
Building and Improvements	73,058
Building and Improvements	0
Land	9,677
Building and Improvements	73,058
Total	82,735
Accumulated Depreciation and Amortization	$ 15,855
Office | Travel & Leisure, Co. | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Travel & Leisure, Co. | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Rapiscan Systems
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,006
Building and Improvements	10,755
Building and Improvements	40
Land	2,006
Building and Improvements	10,795
Total	12,801
Accumulated Depreciation and Amortization	$ 2,834
Office | Rapiscan Systems | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Rapiscan Systems | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Toshiba TEC
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,916
Building and Improvements	38,796
Building and Improvements	(1)
Land	1,916
Building and Improvements	38,795
Total	40,711
Accumulated Depreciation and Amortization	$ 9,065
Office | Toshiba TEC | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Toshiba TEC | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | IGT
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,673
Building and Improvements	69,631
Building and Improvements	0
Land	5,673
Building and Improvements	69,631
Total	75,304
Accumulated Depreciation and Amortization	$ 12,571
Office | IGT | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | IGT | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Zoetis
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,718
Building and Improvements	44,817
Building and Improvements	0
Land	3,718
Building and Improvements	44,817
Total	48,535
Accumulated Depreciation and Amortization	$ 9,126
Office | Zoetis | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Zoetis | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Southern Company
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	7,794
Building and Improvements	159,181
Building and Improvements	0
Land	7,794
Building and Improvements	159,181
Total	166,975
Accumulated Depreciation and Amortization	$ 21,270
Office | Southern Company | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Southern Company | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | MISO
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,725
Building and Improvements	26,820
Building and Improvements	1
Land	3,725
Building and Improvements	26,821
Total	30,546
Accumulated Depreciation and Amortization	$ 5,792
Office | MISO | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | MISO | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Mckesson (5801 N. Pima Road)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	0
Building and Improvements	41,640
Building and Improvements	68
Land	0
Building and Improvements	41,708
Total	41,708
Accumulated Depreciation and Amortization	$ 9,479
Office | Mckesson (5801 N. Pima Road) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Mckesson (5801 N. Pima Road) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Freeport McMoRan
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,264
Building and Improvements	120,686
Building and Improvements	(79,513)
Land	1,453
Building and Improvements	41,173
Total	42,626
Accumulated Depreciation and Amortization	$ 6,002
Office | Freeport McMoRan | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Freeport McMoRan | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Avnet (Phoenix)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,394
Building and Improvements	32,883
Building and Improvements	0
Land	5,394
Building and Improvements	32,883
Total	38,277
Accumulated Depreciation and Amortization	$ 7,073
Office | Avnet (Phoenix) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Avnet (Phoenix) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Terraces at Copley Point
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	23,897
Building and Improvements	88,625
Building and Improvements	55
Land	23,897
Building and Improvements	88,680
Total	112,577
Accumulated Depreciation and Amortization	$ 14,529
Office | Terraces at Copley Point | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Terraces at Copley Point | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Occidental Petroleum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	6,841
Building and Improvements	26,496
Building and Improvements	0
Land	6,841
Building and Improvements	26,496
Total	33,337
Accumulated Depreciation and Amortization	$ 3,579
Office | Occidental Petroleum | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Occidental Petroleum | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Keurig Dr. Pepper (63 South Ave)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,111
Building and Improvements	49,276
Building and Improvements	(4,409)
Land	4,646
Building and Improvements	44,867
Total	49,513
Accumulated Depreciation and Amortization	$ 5,198
Office | Keurig Dr. Pepper (63 South Ave) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Keurig Dr. Pepper (63 South Ave) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Keurig Dr. Pepper (53 South Ave)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,262
Building and Improvements	169,861
Building and Improvements	(51,809)
Land	2,264
Building and Improvements	118,052
Total	120,316
Accumulated Depreciation and Amortization	$ 12,178
Office | Keurig Dr. Pepper (53 South Ave) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Keurig Dr. Pepper (53 South Ave) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | 40 Wright
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,873
Building and Improvements	51,679
Building and Improvements	(22,715)
Land	1,565
Building and Improvements	28,964
Total	30,529
Accumulated Depreciation and Amortization	$ 2,905
Office | 40 Wright | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | 40 Wright | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | 136 Capcom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	887
Building and Improvements	5,176
Building and Improvements	0
Land	887
Building and Improvements	5,176
Total	6,063
Accumulated Depreciation and Amortization	$ 1,071
Office | 136 Capcom | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | 136 Capcom | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | 204 Capcom
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	915
Building and Improvements	5,343
Building and Improvements	0
Land	915
Building and Improvements	5,343
Total	6,258
Accumulated Depreciation and Amortization	$ 1,106
Office | 204 Capcom | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | 204 Capcom | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Cigna (Express Scripts)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	4,725
Building and Improvements	20,836
Building and Improvements	(15,164)
Land	905
Building and Improvements	5,672
Total	6,577
Accumulated Depreciation and Amortization	$ 1,037
Office | Cigna (Express Scripts) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Cigna (Express Scripts) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | International Paper
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,376
Building and Improvements	77,536
Building and Improvements	0
Land	1,376
Building and Improvements	77,536
Total	78,912
Accumulated Depreciation and Amortization	$ 8,354
Office | International Paper | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | International Paper | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Office | Tech Data Corp.
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	3,138
Building and Improvements	13,659
Building and Improvements	(10,885)
Land	508
Building and Improvements	2,774
Total	3,282
Accumulated Depreciation and Amortization	$ 488
Office | Tech Data Corp. | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Office | Tech Data Corp. | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 212,397
Land	69,128
Building and Improvements	476,757
Building and Improvements	(146,892)
Land	32,550
Building and Improvements	329,865
Total	362,415
Accumulated Depreciation and Amortization	112,063
Other | Northrop Grumman
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	92,444
Land	1,300
Building and Improvements	16,188
Building and Improvements	619
Land	1,300
Building and Improvements	16,807
Total	18,107
Accumulated Depreciation and Amortization	$ 8,322
Other | Northrop Grumman | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Northrop Grumman | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Raytheon Technologies
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,330
Building and Improvements	37,858
Building and Improvements	0
Land	1,330
Building and Improvements	37,858
Total	39,188
Accumulated Depreciation and Amortization	$ 16,003
Other | Raytheon Technologies | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Raytheon Technologies | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Avnet (Chandler)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,860
Building and Improvements	31,481
Building and Improvements	47
Land	1,860
Building and Improvements	31,528
Total	33,388
Accumulated Depreciation and Amortization	$ 10,241
Other | Avnet (Chandler) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Avnet (Chandler) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | 30 Independence
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,300
Building and Improvements	36,768
Building and Improvements	(11,037)
Land	1,720
Building and Improvements	25,731
Total	27,451
Accumulated Depreciation and Amortization	$ 10,229
Other | 30 Independence | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | 30 Independence | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Wyndham Hotels & Resorts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 119,953
Land	6,200
Building and Improvements	91,153
Building and Improvements	2,494
Land	6,200
Building and Improvements	93,647
Total	99,847
Accumulated Depreciation and Amortization	$ 28,807
Other | Wyndham Hotels & Resorts | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Wyndham Hotels & Resorts | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Crosspoint
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	15,000
Building and Improvements	45,893
Building and Improvements	(26,474)
Land	4,210
Building and Improvements	19,419
Total	23,629
Accumulated Depreciation and Amortization	$ 6,693
Other | Crosspoint | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Crosspoint | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Level 3 (ParkRidge One)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	10,554
Building and Improvements	35,817
Building and Improvements	(18,023)
Land	4,753
Building and Improvements	17,794
Total	22,547
Accumulated Depreciation and Amortization	$ 7,854
Other | Level 3 (ParkRidge One) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Level 3 (ParkRidge One) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Franklin Center
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	6,989
Building and Improvements	46,875
Building and Improvements	(36,567)
Land	1,320
Building and Improvements	10,308
Total	11,628
Accumulated Depreciation and Amortization	$ 3,273
Other | Franklin Center | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Franklin Center | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Owens Corning
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	867
Building and Improvements	4,972
Building and Improvements	547
Land	867
Building and Improvements	5,519
Total	6,386
Accumulated Depreciation and Amortization	$ 1,480
Other | Owens Corning | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Owens Corning | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Wood Group (Westgate II)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	7,716
Building and Improvements	49,292
Building and Improvements	(39,189)
Land	1,471
Building and Improvements	10,103
Total	11,574
Accumulated Depreciation and Amortization	$ 2,961
Other | Wood Group (Westgate II) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Wood Group (Westgate II) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Administrative Office of Pennsylvania Courts
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,246
Building and Improvements	10,125
Building and Improvements	283
Land	1,246
Building and Improvements	10,408
Total	11,654
Accumulated Depreciation and Amortization	$ 2,817
Other | Administrative Office of Pennsylvania Courts | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Administrative Office of Pennsylvania Courts | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | MGM Corporate Center (840 Grier Drive)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,634
Building and Improvements	9,558
Building and Improvements	818
Land	1,634
Building and Improvements	10,376
Total	12,010
Accumulated Depreciation and Amortization	$ 2,987
Other | MGM Corporate Center (840 Grier Drive) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | MGM Corporate Center (840 Grier Drive) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | MGM Corporate Center (880 Grier Drive)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	2,188
Building and Improvements	12,771
Building and Improvements	326
Land	2,188
Building and Improvements	13,097
Total	15,285
Accumulated Depreciation and Amortization	$ 3,719
Other | MGM Corporate Center (880 Grier Drive) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | MGM Corporate Center (880 Grier Drive) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | MGM Corporate Center (950 Grier Drive)
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	723
Building and Improvements	4,220
Building and Improvements	146
Land	723
Building and Improvements	4,366
Total	5,089
Accumulated Depreciation and Amortization	$ 1,299
Other | MGM Corporate Center (950 Grier Drive) | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | MGM Corporate Center (950 Grier Drive) | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Hitachi Astemo
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	1,214
Building and Improvements	18,965
Building and Improvements	57
Land	1,214
Building and Improvements	19,022
Total	20,236
Accumulated Depreciation and Amortization	$ 4,440
Other | Hitachi Astemo | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | Hitachi Astemo | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | 345 Bob Heath Drive
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 0
Land	5,007
Building and Improvements	24,821
Building and Improvements	(20,939)
Land	514
Building and Improvements	3,882
Total	4,396
Accumulated Depreciation and Amortization	$ 938
Other | 345 Bob Heath Drive | Minimum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	5 years
Other | 345 Bob Heath Drive | Maximum
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Life on which depreciation in latest income statement is computed	40 years
Other | Held-for-sale | Hitachi Energy USA
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 11,709
Land	5,637
Building and Improvements	25,280
Building and Improvements	0
Land	5,637
Building and Improvements	25,280
Total	30,917
Accumulated Depreciation and Amortization	9,973
Northeast | Held-for-sale | Corteva Agriscience
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Land	6,412
Building and Improvements	40,923
Building and Improvements	(12,005)
Land	4,454
Building and Improvements	28,918
Total	33,372
Accumulated Depreciation and Amortization	$ 4,663

Schedule III - Real Estate As_3

Schedule III - Real Estate Assets and Accumulated Depreciation and Amortization - Rollforward (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real estate facilities
Balance at beginning of year	$ 3,497,256	$ 5,570,160	$ 4,310,302
Acquisitions	0	0	1,289,296
Construction costs and improvements	17,412	8,607	29,042
Other adjustments	(11)	(129)	(2,976)
Write down of tenant origination and absorption costs	0	0	(422)
Impairment provision	(516,671)	(178,414)	(4,242)
Sale of real estate assets	(323,586)	(1,876,066)	(50,840)
Real estate assets held for sale	(64,289)	(26,902)	0
Balance at end of year	2,610,111	3,497,256	5,570,160
Accumulated depreciation
Balance at beginning of year	644,639	993,323	817,773
Depreciation and amortization expense	110,578	186,350	209,638
Write down of tenant origination and absorption costs	0	0	(422)
Impairment provision	(107,160)	(50,838)	0
Other adjustments	(21)	(47)	0
Less: Non-real estate assets depreciation expense	0	0	(5,860)
Less: Sale of real estate assets depreciation expense	(82,848)	(476,655)	(27,806)
Less: Real estate assets held for sale	(14,636)	(7,494)	0
Balance at end of year	550,552	644,639	993,323
Total real estate, net	$ 2,059,559	$ 2,852,617	$ 4,576,837