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Investments in Unconsolidated Joint Ventures (Tables) | 12 Months Ended
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Dec. 31, 2020
Schedule of Equity Method Investments [Line Items] |
Investments In Unconsolidated Joint Ventures | The investments in unconsolidated joint ventures consist of the following at December 31, 2020 and December 31, 2019:
|  |  |  |  |  | Carrying Value of Investment (1)
Entity |  | Properties |  | Nominal % Ownership |  | December 31, 2020 |  | December 31, 2019
|  |  |  |  |  | (in thousands)
Square 407 Limited Partnership |  | Market Square North |  | 50.0 | % |  | $ | (3,766) |  |  | $ | (4,872) |
BP/CRF Metropolitan Square, LLC |  | Metropolitan Square |  | 20.0 | % |  | (13,584) |  |  | 9,134 |
901 New York, LLC |  | 901 New York Avenue |  | 25.0 | % | (2) | (12,264) |  |  | (12,113) |
WP Project Developer LLC |  | Wisconsin Place Land and Infrastructure |  | 33.3 | % | (3) | 35,297 |  |  | 36,789 |
Annapolis Junction NFM LLC |  | Annapolis Junction |  | 50.0 | % | (4) | 13,463 |  |  | 25,391 |
540 Madison Venture LLC |  | 540 Madison Avenue |  | 60.0 | % | (5) | 122 |  |  | 2,953 |
500 North Capitol Venture LLC |  | 500 North Capitol Street, NW |  | 30.0 | % |  | (6,945) |  |  | (5,439) |
501 K Street LLC |  | 1001 6th Street |  | 50.0 | % | (6) | 42,499 |  |  | 42,496 |
Podium Developer LLC |  | The Hub on Causeway - Podium |  | 50.0 | % |  | 48,818 |  |  | 49,466 |
Residential Tower Developer LLC |  | Hub50House |  | 50.0 | % |  | 50,943 |  |  | 55,092 |
Hotel Tower Developer LLC |  | The Hub on Causeway - Hotel Air Rights |  | 50.0 | % |  | 10,754 |  |  | 9,883 |
Office Tower Developer LLC |  | 100 Causeway Street |  | 50.0 | % |  | 56,312 |  |  | 56,606 |
1265 Main Office JV LLC |  | 1265 Main Street |  | 50.0 | % |  | 3,787 |  |  | 3,780 |
BNY Tower Holdings LLC |  | Dock 72 |  | 50.0 | % |  | 29,536 |  |  | 94,804 |
BNYTA Amenity Operator LLC |  | Dock 72 |  | 50.0 | % |  | 1,846 |  |  | N/A
CA-Colorado Center Limited Partnership |  | Colorado Center |  | 50.0 | % |  | 227,671 |  |  | 252,069 |
7750 Wisconsin Avenue LLC |  | 7750 Wisconsin Avenue |  | 50.0 | % |  | 58,112 |  |  | 56,247 |
BP-M 3HB Venture LLC |  | 3 Hudson Boulevard |  | 25.0 | % |  | 113,774 |  |  | 67,499 |
SMBP Venture LP |  | Santa Monica Business Park |  | 55.0 | % |  | 145,761 |  |  | 163,937 |
Platform 16 Holdings LP |  | Platform 16 |  | 55.0 | % | (7) | 108,393 |  |  | 29,501 |
Gateway Portfolio Holdings LLC |  | Gateway Commons |  | 50.0 | % | (8) | 336,206 |  |  | N/A
Rosecrans-Sepulveda Partners 4, LLC |  | Beach Cities Media Campus |  | 50.0 | % |  | 27,184 |  |  | N/A
|  |  |  |  |  | $ | 1,273,919 |  |  | $ | 933,223 |
_______________ (1)Investments with deficit balances aggregating approximately $36.6 million and $22.4 million at December 31, 2020 and 2019, respectively, are included 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. At December 31, 2020 and 2019, the Company’s economic ownership was approximately 50%. (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 two in-service buildings. (5)T he property was sold on June 27, 2019. As of December 31, 2020 and 2019, the investment consisted of undistributed cash. (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 1). (8)As a result of the partner’s deferred contribution, the Company owns an approximately 55% interest in the joint venture at December 31, 2020. Future development projects will be owned 49% by the Company and 51% by its partner.
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:
| December 31, 2020 |  | December 31, 2019
| (in thousands)
ASSETS |  |  |
Real estate and development in process, net (1) | $ | 4,708,571 |  |  | $ | 3,904,400 |
Other assets | 531,071 |  |  | 502,706 |
Total assets | $ | 5,239,642 |  |  | $ | 4,407,106 |
LIABILITIES AND MEMBERS’/PARTNERS’ EQUITY |  |  |
Mortgage and notes payable, net | $ | 2,637,911 |  |  | $ | 2,218,853 |
Other liabilities (2) | 650,433 |  |  | 749,675 |
Members’/Partners’ equity | 1,951,298 |  |  | 1,438,578 |
Total liabilities and members’/partners’ equity | $ | 5,239,642 |  |  | $ | 4,407,106 |
Company’s share of equity | $ | 936,087 |  |  | $ | 591,905 |
Basis differentials (3) | 337,832 |  |  | 341,318 |
Carrying value of the Company’s investments in unconsolidated joint ventures (4) | $ | 1,273,919 |  |  | $ | 933,223 |
_______________ (1)At December 31, 2020 and 2019, this amount included right of use assets - finance leases totaling approximately $248.9 million and $383.9 million, respectively, and right of use assets - operating leases totaling approximately $22.5 million and $12.1 million, respectively. (2)At December 31, 2020 and 2019, this amount included lease liabilities - finance leases totaling approximately $388.7 million and $510.8 million, respectively, and lease liabilities - operating leases totaling approximately $29.0 million and $17.3 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 December 31, 2020 and 2019, there was an aggregate basis differential of approximately $307.3 million and $311.3 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. At December 31, 2020, there was an aggregate basis differential of approximately $51.9 million between the carrying value of the Company’s investment in the joint venture that owns Gateway Commons and the joint venture’s basis in the assets and liabilities. At December 31, 2020, there was an aggregate basis differential of approximately $(52.2) million between the carrying value of the Company’s investment in the joint venture that owns Dock 72 and the joint venture’s basis in the assets and liabilities. These basis differentials (excluding land) will be amortized over the remaining lives of the related assets and liabilities. (4)Investments with deficit balances aggregating approximately $36.6 million and $22.4 million at December 31, 2020 and 2019, respectively, are 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:
|  |  | Year ended December 31,
|  |  |  |  | 2020 |  | 2019 |  | 2018
|  |  |  |  | (in thousands)
Total revenue (1) |  |  |  |  | $ | 319,560 |  |  | $ | 322,817 |  |  | $ | 271,951 |
Expenses |  |  |  |  |  |  |  |  |
Operating |  |  |  |  | 144,347 |  |  | 122,992 |  |  | 106,610 |
Transaction costs |  |  |  |  | 1,027 |  |  | 1,000 |  |  | — |
Depreciation and amortization (2) |  |  |  |  | 141,853 |  |  | 102,296 |  |  | 103,079 |
Total expenses |  |  |  |  | 287,227 |  |  | 226,288 |  |  | 209,689 |
Other income (expense) |  |  |  |  |  |  |  |  |
Interest expense |  |  |  |  | (98,051) |  |  | (84,409) |  |  | (71,308) |
Gains on sales of real estate (3) |  |  |  |  | 11,737 |  |  | 32,706 |  |  | 16,951 |
Net income (loss) |  |  |  |  | $ | (53,981) |  |  | $ | 44,826 |  |  | $ | 7,905 |
Company’s share of net income (loss) |  |  |  |  | $ | (16,256) |  |  | $ | 24,423 |  |  | $ | 8,084 |
Impairment loss on investment (4) |  |  |  |  | (60,524) |  |  | — |  |  | — |
Basis differential (3)(4)(5) |  |  |  |  | (8,330) |  |  | 22,169 |  |  | (5,862) |
(Loss) income from unconsolidated joint ventures |  |  |  |  | $ | (85,110) |  |  | $ | 46,592 |  |  | $ | 2,222 |
_______________ (1)Includes straight-line rent adjustments of approximately $(10.1) million, $32.4 million and $15.9 million for the years ended December 31, 2020, 2019 and 2018, respectively. Due primarily to the impact of COVID-19, for the year ended December 31, 2020, write-offs of accounts receivable and accrued rent balances totaled approximately $51.7 million. (2)During the year ended December 31, 2018, the joint venture that owns Metropolitan Square in Washington, DC, commenced a renovation project and recorded accelerated depreciation expense of approximately $22.4 million related to the remaining book value of the assets to be replaced. The Company’s share of the accelerated depreciation expense totaled approximately $4.5 million. (3)For the year ended December 31, 2019, represents the gain on sale of 540 Madison Avenue recognized by the joint venture. 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 $47.2 million for the year ended December 31, 2019, 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 of real estate is included in Income from Unconsolidated Joint Ventures in the Company’s Consolidated Statements of Operations. (4)During the year ended December 31, 2020, the Company recognized an other-than-temporary impairment loss on its investment in the unconsolidated joint venture that owns Dock 72 in Brooklyn, New York totaling approximately $60.5 million. (5)Includes straight-line rent adjustments of approximately $1.8 million, $2.1 million and $2.4 million for the years ended December 31, 2020, 2019 and 2018, respectively. Also includes net above-/below-market rent adjustments of approximately $0.9 million, $1.7 million and $1.6 million for the years ended December 31, 2020, 2019 and 2018, respectively.

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