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Investments in Unconsolidated Joint Ventures (Balance Sheets of the Unconsolidated Joint Ventures) (Details) - USD ($)
$ in Thousands
Sep. 30, 2024
Dec. 31, 2023
ASSETS    
Total real estate $ 20,900,979 $ 20,593,459
Total assets 26,405,536 26,026,149
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 4,275,155 4,166,379
Other Liabilities 407,441 445,947
Members’/Partners’ equity 5,759,209 5,876,697
Total liabilities and equity / capital 26,405,536 26,026,149
Carying value of the Company's investment in unconsolidated joint ventures 1,421,886 1,377,319
Operating Lease, Right-of-Use Asset [1] 339,804 324,298
Lease Liabilities - Operating Leases 389,444 350,391
Unconsolidated Joint Ventures [Member]    
ASSETS    
Total real estate [2] 5,756,008 5,811,763
Other assets [3] 651,956 682,291
Total assets 6,407,964 6,494,054
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Mortgage and notes payable, net 3,198,547 3,351,873
Other Liabilities [4] 294,795 361,357
Members’/Partners’ equity 2,914,622 2,780,824
Total liabilities and equity / capital 6,407,964 6,494,054
Company's share of equity 1,334,102 1,278,483
Basis differentials [5] 57,047 58,933
Carying value of the Company's investment in unconsolidated joint ventures [6] 1,391,149 1,337,416
Operating Lease, Right-of-Use Asset 19,200 20,100
Sales-type lease receivable, net 14,100 13,900
Lease Liabilities - Operating Leases 30,500 30,500
Unconsolidated Joint Ventures [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities 30,700 39,900
Colorado Center    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 296,758 298,906
Carying value of the Company's investment in unconsolidated joint ventures [7] 234,972 237,815
200 Fifth Avenue JV LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 51,779 58,308
Carying value of the Company's investment in unconsolidated joint ventures [7] 68,563 75,718
Gateway Commons Complex [Member]    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials 51,009 48,971
Carying value of the Company's investment in unconsolidated joint ventures [7] 393,679 376,834
Safeco Plaza REIT LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (29,032) (29,678)
Carying value of the Company's investment in unconsolidated joint ventures [7] 47,510 44,734
360 PAS Holdco LLC    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (114,202) (116,534)
Carying value of the Company's investment in unconsolidated joint ventures [7] 69,538 42,988
Dock 72    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Other Liabilities [7] 7,065 11,890
Basis differentials (92,930) (95,521)
Platform 16    
LIABILITIES AND MEMBERS'/PARTNERS' EQUITY    
Basis differentials (142,670) (143,052)
Carying value of the Company's investment in unconsolidated joint ventures [7] $ 55,381 $ 45,564
[1] See Note 4.
[2] At September 30, 2024 and December 31, 2023, this amount included right of use assets - operating leases totaling approximately $19.2 million and $20.1 million, respectively.
[3] At September 30, 2024 and December 31, 2023, this amount included sales-type lease receivable, net totaling approximately $14.1 million and $13.9 million, respectively.
[4] At September 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:
September 30, 2024December 31, 2023
Property(in thousands)
Colorado Center$296,758 $298,906 
200 Fifth Avenue51,779 58,308 
Gateway Commons51,009 48,971 
Safeco Plaza(29,032)(29,678)
360 Park Avenue South(114,202)(116,534)
Dock 72(92,930)(95,521)
Platform 16(142,670)(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 $30.7 million and $39.9 million at September 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 $30.7 million and $39.9 million at September 30, 2024 and December 31, 2023, respectively, are included within Other Liabilities in the Company’s Consolidated Balance Sheets.