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Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
Jun. 30, 2024
Dec. 31, 2023
ASSETS    
Total real estate $ 20,792,116 $ 20,593,459
Total assets 25,474,448 26,026,149
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 4,371,478 4,166,379
Other Liabilities 398,525 445,947
Members’/Partners’ equity 5,802,862 5,876,697
Total liabilities and equity / capital 25,474,448 26,026,149
Carying value of the Company's investment in unconsolidated joint ventures 1,418,817 1,377,319
Operating Lease, Right-of-Use Asset [1] 344,292 324,298
Lease Liabilities - Operating Leases 385,842 350,391
Unconsolidated Joint Ventures [Member]    
ASSETS    
Total real estate [2] 5,749,980 5,811,763
Other assets [3] 648,481 682,291
Total assets 6,398,461 6,494,054
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 3,184,773 3,351,873
Other Liabilities [4] 295,510 361,357
Members’/Partners’ equity 2,918,178 2,780,824
Total liabilities and equity / capital 6,398,461 6,494,054
Company's share of equity 1,330,301 1,278,483
Basis differentials [5] 57,004 58,933
Carying value of the Company's investment in unconsolidated joint ventures [6] 1,387,305 1,337,416
Operating Lease, Right-of-Use Asset 19,500 20,100
Sales-type lease receivable, net 14,000 13,900
Lease Liabilities - Operating Leases 30,500 30,500
Unconsolidated Joint Ventures [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities 31,500 39,900
Colorado Center    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 297,474 298,906
Carying value of the Company's investment in unconsolidated joint ventures [7] 235,144 237,815
200 Fifth Avenue JV LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 53,949 58,308
Carying value of the Company's investment in unconsolidated joint ventures [7] 75,108 75,718
Gateway Commons Complex [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 50,312 48,971
Carying value of the Company's investment in unconsolidated joint ventures [7] 388,599 376,834
Safeco Plaza REIT LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (29,279) (29,678)
Carying value of the Company's investment in unconsolidated joint ventures [7] 46,222 44,734
360 PAS Holdco LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (115,181) (116,534)
Carying value of the Company's investment in unconsolidated joint ventures [7] 58,546 42,988
Dock 72    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities [7] 8,154 11,890
Basis differentials (93,775) (95,521)
Platform 16    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (142,680) (143,052)
Carying value of the Company's investment in unconsolidated joint ventures [7] $ 55,689 $ 45,564
[1] See Note 4.
[2] At June 30, 2024 and December 31, 2023, this amount included right of use assets - operating leases totaling approximately $19.5 million and $20.1 million, respectively.
[3] At June 30, 2024 and December 31, 2023, this amount included sales-type lease receivable, net totaling approximately $14.0 million and $13.9 million, respectively.
[4] At June 30, 2024 and December 31, 2023, this amount included lease liabilities - operating leases totaling approximately $30.5 million.
[5] 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. The Company’s basis differences include:
June 30, 2024December 31, 2023
Property(in thousands)
Colorado Center$297,474 $298,906 
200 Fifth Avenue53,949 58,308 
Gateway Commons50,312 48,971 
Safeco Plaza(29,279)(29,678)
360 Park Avenue South(115,181)(116,534)
Dock 72(93,775)(95,521)
Platform 16(142,680)(143,052)
These basis differentials (excluding land) will be amortized over the remaining lives of the related assets and liabilities.
[6] Investments with deficit balances aggregating approximately $31.5 million and $39.9 million at June 30, 2024 and December 31, 2023, respectively, are reflected within Other Liabilities in the Company’s Consolidated Balance Sheets.
[7] Investments with deficit balances aggregating approximately $31.5 million and $39.9 million at June 30, 2024 and December 31, 2023, respectively, are included within Other Liabilities in the Company’s Consolidated Balance Sheets.