XML 60 R45.htm IDEA: XBRL DOCUMENT v3.21.2
Investments in Unconsolidated Joint Ventures (Investments in Unconsolidated Joint Ventures) (Details)
$ in Thousands
 9 Months Ended
Sep. 30, 2021
USD ($)
ft²
payments
Sep. 01, 2021
Aug. 31, 2021
Mar. 30, 2021
Feb. 25, 2021
Dec. 31, 2020
USD ($)
Schedule of Equity Method Investments [Line Items]            
Other Liabilities $ (370,403)         $ (412,084)
Investments in unconsolidated joint ventures 1,373,522         1,310,478
Investments In Affiliates Subsidiaries Associates And Joint Ventures net [1] 1,336,947         1,273,919
Unconsolidated Joint Ventures [Member]            
Schedule of Equity Method Investments [Line Items]            
Other Liabilities $ (36,600)         (36,600)
Square 407 Limited Partnership [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Market Square North          
Ownership Percentage 50.00%          
Other Liabilities [1] $ (1,917)         (3,766)
BP/CRF Metropolitan Square LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Metropolitan Square          
Ownership Percentage 20.00%          
Other Liabilities [1] $ (14,568)         (13,584)
901 New York Avenue LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 901 New York Avenue          
Ownership Percentage [2] 25.00%          
Other Liabilities [1] $ (12,390)         $ (12,264)
901 New York Avenue LLC (economic ownership) [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage 50.00%         50.00%
WP Project Developer LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Wisconsin Place Land and Infrastructure          
Ownership Percentage [3] 33.33%          
Investments in unconsolidated joint ventures [1] $ 34,104         $ 35,297
Annapolis Junction NFM, LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Annapolis Junction          
Ownership Percentage       50.00%   50.00% [4]
Investments in unconsolidated joint ventures [1]           $ 13,463
540 Madison Venture            
Schedule of Equity Method Investments [Line Items]            
Properties 540 Madison Avenue          
Ownership Percentage [5] 60.00%          
Investments in unconsolidated joint ventures [1]           122
500 North Capitol Venture LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 500 North Capitol Street, NW          
Ownership Percentage 30.00%          
Other Liabilities [1] $ (7,700)         (6,945)
501 K Street LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 1001 6th Street          
Ownership Percentage [6] 50.00%          
Investments in unconsolidated joint ventures [1] $ 42,669         42,499
Potential additonal payments to joint venture partner | payments 2          
Minimum square footage to make a potential additional payment to joint venture partner (in sqft) | ft² 520,000          
Podium Developer LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties The Hub on Causeway - Podium          
Ownership Percentage 50.00%   50.00%      
Investments in unconsolidated joint ventures [1] $ 48,970         48,818
Residential Tower Developer LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Hub50House          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 47,934         50,943
Hotel Tower Developer LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties The Hub on Causeway - Hotel Air Rights          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 11,402         10,754
Office Tower Developer LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 100 Causeway Street          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 56,714         56,312
1265 Main Office JV LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 1265 Main Street          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 3,855         3,787
BNY Tower Holdings LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Dock 72          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 28,079         29,536
BNYA Amenity Operator LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Dock 72          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 1,151         1,846
CA-Colorado Center Limited Partnership [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Colorado Center          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 230,535         227,671
7750 Wisconsin Avenue LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 7750 Wisconsin Avenue          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 59,734         58,112
BP-M 3HB Venture LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties 3 Hudson Boulevard          
Ownership Percentage 25.00%          
Investments in unconsolidated joint ventures [1] $ 116,537         113,774
SMBP Venture LP [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Santa Monica Business Park          
Ownership Percentage 55.00%          
Investments in unconsolidated joint ventures [1] $ 155,679         145,761
Platform 16 Holdings LP [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Platform 16          
Ownership Percentage [7] 55.00%          
Investments in unconsolidated joint ventures [1] $ 108,098         $ 108,393
Gateway Portfolio Holdings LLC [Member]            
Schedule of Equity Method Investments [Line Items]            
Properties Gateway Commons          
Ownership Percentage 50.00% [8]       54.00% 55.00%
Investments in unconsolidated joint ventures [1] $ 328,367         $ 336,206
Rosecrans-Sepulveda Partners 4, LLC            
Schedule of Equity Method Investments [Line Items]            
Properties Beach Cities Media Campus          
Ownership Percentage 50.00%          
Investments in unconsolidated joint ventures [1] $ 27,124         $ 27,184
Entity Owning Land And Infrastructure Of Project [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage 33.33%          
Gateway Commons Complex prior to deferred contribution [Member] [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage 52.00%         55.00%
Safeco Plaza REIT LLC            
Schedule of Equity Method Investments [Line Items]            
Properties Safeco Plaza          
Ownership Percentage 33.67% [9] 33.67%        
Investments in unconsolidated joint ventures [1] $ 72,570          
Safeco Plaza REIT LLC | Company's Share [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage   33.00%        
Safeco Partner Entity Two | Company's Share [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage   1.00%        
Safeco Partner Entity One [Member] | Company's Share [Member]            
Schedule of Equity Method Investments [Line Items]            
Ownership Percentage   1.00%        
[1] Investments with deficit balances aggregating approximately $36.6 million at September 30, 2021 and December 31, 2020 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 September 30, 2021 and December 31, 2020, the Company’s economic ownership was approximately 50%.
[3] The Company’s wholly-owned subsidiary that owns Wisconsin Place Office also owns a 33.33% interest in the joint venture entity that owns the land, parking garage and infrastructure of the project.
[4] On March 30, 2021, the Company sold its interest in the joint venture to the partner. See below for additional details.
[5] The property was sold on June 27, 2019. As of December 31, 2020, the investment consisted of undistributed cash. All remaining cash has been distributed as of September 30, 2021.
[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).
[8] As a result of the partner’s deferred contribution, the Company owned an approximately 52% and 55% interest in the joint venture at September 30, 2021 and December 31, 2020, respectively. (9)The Company’s ownership includes (1) a 33.0% direct interest in the joint venture, and (2) an additional 1% interest in each of the two entities (each, a “Safeco Partner Entity”) through which each partner owns its interest in the joint venture.
[9] The Company’s ownership includes (1) a 33.0% direct interest in the joint venture, and (2) an additional 1% interest in each of the two entities (each, a “Safeco Partner Entity”) through which each partner owns its interest in the joint venture.