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Investments in Unconsolidated Joint Ventures (Tables) | 6 Months Ended
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Jun. 30, 2019
Investments In Unconsolidated Joint Ventures [Abstract] |
Investments In Unconsolidated Joint Ventures | The investments in unconsolidated joint ventures consist of the following at June 30, 2019 and December 31, 2018:
|  |  |  | Nominal % Ownership |  | Carrying Value of Investment (1)
Entity |  | Properties |  |  | June 30, 2019 |  | December 31, 2018
|  |  |  |  |  | (in thousands)
Square 407 Limited Partnership |  | Market Square North |  | 50.0 | % |  | $ | (5,518 | ) |  | $ | (6,424 | )
The Metropolitan Square Associates LLC |  | Metropolitan Square |  | 20.0 | % |  | 5,827 |  |  | 2,644 |
BP/CRF 901 New York Avenue LLC |  | 901 New York Avenue |  | 25.0 | % | (2) | (12,859 | ) |  | (13,640 | )
WP Project Developer LLC |  | Wisconsin Place Land and Infrastructure |  | 33.3 | % | (3) | 37,521 |  |  | 38,214 |
Annapolis Junction NFM LLC |  | Annapolis Junction |  | 50.0 | % | (4) | 25,290 |  |  | 25,268 |
540 Madison Venture LLC |  | 540 Madison Avenue |  | 60.0 | % | (5) | 9,200 |  |  | 66,391 |
500 North Capitol Venture LLC |  | 500 North Capitol Street, NW |  | 30.0 | % |  | (5,451 | ) |  | (5,026 | )
501 K Street LLC |  | 1001 6th Street |  | 50.0 | % | (6) | 42,473 |  |  | 42,557 |
Podium Developer LLC |  | The Hub on Causeway - Podium |  | 50.0 | % |  | 58,637 |  |  | 69,302 |
Residential Tower Developer LLC |  | The Hub on Causeway - Residential |  | 50.0 | % |  | 48,201 |  |  | 47,505 |
Hotel Tower Developer LLC |  | The Hub on Causeway - Hotel Air Rights |  | 50.0 | % |  | 3,626 |  |  | 3,022 |
Office Tower Developer LLC |  | 100 Causeway Street |  | 50.0 | % | (7) | 69,551 |  |  | 23,804 |
1265 Main Office JV LLC |  | 1265 Main Street |  | 50.0 | % |  | 4,125 |  |  | 3,918 |
BNY Tower Holdings LLC |  | Dock 72 |  | 50.0 | % |  | 91,134 |  |  | 82,520 |
CA-Colorado Center Limited Partnership |  | Colorado Center |  | 50.0 | % |  | 254,122 |  |  | 253,495 |
7750 Wisconsin Avenue LLC |  | 7750 Wisconsin Avenue |  | 50.0 | % | (7) | 70,122 |  |  | 69,724 |
BP-M 3HB Venture LLC |  | 3 Hudson Boulevard |  | 25.0 | % |  | 47,966 |  |  | 46,993 |
SMBP Venture LP |  | Santa Monica Business Park |  | 55.0 | % |  | 169,040 |  |  | 180,952 |
|  |  |  |  |  | $ | 913,007 |  |  | $ | 931,219 |
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(1) | Investments with deficit balances aggregating approximately $23.8 million and $25.1 million at June 30, 2019 and December 31, 2018, respectively, have been reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
(2) | The Company’s economic ownership has increased based on the achievement of certain return thresholds.
(3) | The Company’s wholly-owned subsidiary that owns Wisconsin Place Office also owns a 33.3% interest in the joint venture entity that owns the land, parking garage and infrastructure of the project.
(4) | The joint venture owns three in-service buildings and two undeveloped land parcels.
(5) | The property was sold on June 27, 2019. As of June 30, 2019, the investment is comprised of undistributed cash. See note below for additional details.
(6) | Under the joint venture agreement for this land parcel, the partner will be entitled to up to two additional payments from the venture based on increases in total entitled square footage of the project above 520,000 square feet and achieving certain project returns at stabilization.
(7) This entity is a VIE (See Note 2).
Schedule Of Balance Sheets Of The Unconsolidated Joint Ventures [Text Block] | The combined summarized balance sheets of the Company’s unconsolidated joint ventures are as follows:
| June 30, 2019 |  | December 31, 2018
| (in thousands)
ASSETS |  |  |
Real estate and development in process, net (1) | $ | 3,551,504 |  |  | $ | 3,545,906 |
Other assets | 515,923 |  |  | 543,512 |
Total assets | $ | 4,067,427 |  |  | $ | 4,089,418 |
LIABILITIES AND MEMBERS’/PARTNERS’ EQUITY |  |  |
Mortgage and notes payable, net | $ | 1,991,290 |  |  | $ | 2,017,609 |
Other liabilities (2) | 656,902 |  |  | 582,006 |
Members’/Partners’ equity | 1,419,235 |  |  | 1,489,803 |
Total liabilities and members’/partners’ equity | $ | 4,067,427 |  |  | $ | 4,089,418 |
Company’s share of equity | $ | 574,662 |  |  | $ | 622,498 |
Basis differentials (3) | 338,345 |  |  | 308,721 |
Carrying value of the Company’s investments in unconsolidated joint ventures (4) | $ | 913,007 |  |  | $ | 931,219 |
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(1) | At June 30, 2019, this amount includes right of use assets - finance leases and right of use assets - operating leases totaling approximately $248.9 million and $12.5 million, respectively.
(2) | At June 30, 2019, this amount includes lease liabilities - finance leases and lease liabilities - operating leases totaling approximately $393.2 million and $17.2 million, respectively.
(3) | This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials result from impairments of investments, acquisitions through joint ventures with no change in control and upon the transfer of assets that were previously owned by the Company into a joint venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level. At June 30, 2019 and December 31, 2018, there was an aggregate basis differential of approximately $313.3 million and $316.7 million, respectively, between the carrying value of the Company’s investment in the joint venture that owns Colorado Center and the joint venture’s basis in the assets and liabilities, which differential (excluding land) shall be amortized over the remaining lives of the related assets and liabilities.
(4) Investments with deficit balances aggregating approximately $23.8 million and $25.1 million at June 30, 2019 and December 31, 2018, respectively, have been reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
Statements Of Operations Of The Joint Ventures | . The combined summarized statements of operations of the Company’s unconsolidated joint ventures are as follows:
| Three months ended June 30, |  | Six months ended June 30,
| 2019 |  | 2018 |  | 2019 |  | 2018
| (in thousands)
Total revenue (1) | $ | 80,204 |  |  | $ | 57,096 |  |  | $ | 163,159 |  |  | $ | 113,582 |
Expenses |  |  |  |  |  |  |
Operating | 30,134 |  |  | 22,868 |  |  | 60,633 |  |  | 45,717 |
Depreciation and amortization | 24,818 |  |  | 14,527 |  |  | 53,464 |  |  | 29,252 |
Total expenses | 54,952 |  |  | 37,395 |  |  | 114,097 |  |  | 74,969 |
Other income (expense) |  |  |  |  |  |  |
Interest expense | (20,803 | ) |  | (14,708 | ) |  | (41,560 | ) |  | (29,132 | )
Gain on sale of real estate (2) | 34,572 |  |  | — |  |  | 34,572 |  |  | — |
Net income | $ | 39,021 |  |  | $ | 4,993 |  |  | $ | 42,074 |  |  | $ | 9,481 |
Company’s share of net income | $ | 22,376 |  |  | $ | 2,105 |  |  | $ | 23,960 |  |  | $ | 3,931 |
Basis differential (2) (3) | 25,588 |  |  | (1,336 | ) |  | 24,217 |  |  | (2,701 | )
Income from unconsolidated joint ventures | $ | 47,964 |  |  | $ | 769 |  |  | $ | 48,177 |  |  | $ | 1,230 |
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(1) | Includes straight-line rent adjustments of approximately $7.6 million and $3.2 million for the three months ended June 30, 2019 and 2018, respectively, and $13.4 million and $5.0 million for the six months ended June 30, 2019 and 2018, respectively.
(2) | Represents the total gain on sale of 540 Madison Avenue recognized by the joint venture, as described below. During 2008, the Company recognized an other-than-temporary impairment loss on its investment in the unconsolidated joint venture resulting in a basis differential between the carrying value of the Company’s investment in the joint venture and the joint venture’s basis in the assets and liabilities of the property. As a result of the historical basis difference, the Company recognized a gain on sale of real estate totaling approximately $47.8 million, which consists of its share of the gain on sale reported by the joint venture as well as an adjustment for the basis differential. The gain on sale is included in Income from Unconsolidated Joint Ventures in the Company’s Consolidated Statements of Operations.
(3) Includes straight-line rent adjustments of approximately $0.5 million and $0.7 million for the three months ended June 30, 2019 and 2018, respectively, and $1.1 million and $1.4 million for the six months ended June 30, 2019 and 2018, respectively. Also includes net above-/below-market rent adjustments of approximately $0.4 million and $0.4 million for the three months ended June 30, 2019 and 2018, respectively, and $0.8 million and $0.8 million for the six months ended June 30, 2019 and 2018, respectively.

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- Definition Tabular disclosure of equity method investments including, but not limited to, name of each investee or group of investments, percentage ownership, difference between recorded amount of an investment and the value of the underlying equity in the net assets, and summarized financial information. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 323 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=114001798&loc=d3e33918-111571 + Details
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