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Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
Dec. 31, 2020
Dec. 13, 2020
Dec. 31, 2019
ASSETS      
Real estate and development in process, net $ 17,818,807   $ 17,622,212
Total assets 22,858,190   21,284,905
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Mortgage and notes payable, net 2,909,081   2,922,408
Other Liabilities 412,084   387,994
Members’/Partners’ equity 5,996,083   5,684,687
Total liabilities and equity / capital 22,858,190   21,284,905
Carying value of the Company's investment in unconsolidated joint ventures 1,310,478   955,647
Right-of-use assets - finance leases 237,393   237,394
Right of use assets - operating leases 146,406   148,640
Present value of lease payments 236,492   224,042
Lease liabilities - operating leases 201,713   200,180
Unconsolidated Joint Ventures [Member]      
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     2,218,853
Other Liabilities [2] 650,433   749,675
Members’/Partners’ equity 1,951,298   1,438,578
Total liabilities and equity / capital 5,239,642   4,407,106
Company's share of equity 936,087   591,905
Basis differentials [3] 337,832   341,318
Carying value of the Company's investment in unconsolidated joint ventures [4] 1,273,919   933,223
Right-of-use assets - finance leases 248,900   383,900
Right of use assets - operating leases 22,500   12,100
Present value of lease payments 388,700   510,800
Lease liabilities - operating leases 29,000   17,300
Colorado Center [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials 307,300   311,300
Unconsolidated Joint Ventures [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Other Liabilities 36,600   $ 22,400
Gateway Commons Complex [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Basis differentials 51,900    
Carying value of the Company's investment in unconsolidated joint ventures [5] 336,206    
Dock 72 [Member]      
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY      
Mortgage and notes payable, net   $ 198,600  
Basis differentials $ (52,200)    
[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.
[5] 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.