XML 96 R73.htm IDEA: XBRL DOCUMENT v3.25.0.1
Mortgage Notes Payable, Net (Details)
$ in Thousands
12 Months Ended
Dec. 20, 2024
USD ($)
Oct. 08, 2024
USD ($)
ft²
buildings
Jan. 11, 2024
Jan. 08, 2024
USD ($)
ft²
Dec. 31, 2024
USD ($)
Rate
Dec. 31, 2023
USD ($)
Rate
Sep. 27, 2024
USD ($)
Debt Instrument [Line Items]              
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively)         $ 4,276,609 $ 4,166,379  
Number Of Variable Mortgage Loans         0 0  
901 New York Avenue LLC [Member]              
Debt Instrument [Line Items]              
Ownership Percentage [1]           25.00%  
901 New York Avenue              
Debt Instrument [Line Items]              
Net Rentable Area (in sf) | ft²       508,000      
901 New York Avenue | Joint Venture Partner [Member] | 901 New York Avenue LLC [Member]              
Debt Instrument [Line Items]              
Ownership Percentage       50.00%      
Santa Monica Business Park [Member]              
Debt Instrument [Line Items]              
Debt             $ 200,000
Net Rentable Area (in sf) | ft²   1,200,000          
Derivative, Average Fixed Interest Rate   2.675%          
Number of buildings | buildings   21          
Mortgages [Member]              
Debt Instrument [Line Items]              
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively)         $ 4,300,000 $ 4,200,000  
Debt Instrument, Collateral         each collateralized by one or more buildings and related land included in real estate assets. each collateralized by one or more buildings and related land included in real estate assets.  
Long-Term Debt         $ 4,302,313    
Mortgages [Member] | 901 New York Avenue              
Debt Instrument [Line Items]              
Debt $ 202,300     $ 207,100      
Debt Instrument, Interest Rate, Stated Percentage       3.61%      
Long-Term Debt, Fair Value       $ 198,700      
Debt Instrument, Maturity Date       Jan. 05, 2025      
Number of extensions     2        
Long Term Debt, Renewal Term 1   5        
Mortgages [Member] | 901 New York Avenue | Forecast              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage 5.00%            
Mortgages [Member] | 901 New York Avenue | Extended Maturity              
Debt Instrument [Line Items]              
Debt Instrument, Maturity Date Jan. 05, 2029            
Mortgages [Member] | Santa Monica Business Park [Member]              
Debt Instrument [Line Items]              
Debt   $ 200,000          
Debt Instrument, Basis Spread on Variable Rate   1.38%          
Debt Instrument, Maturity Date   Jul. 19, 2025          
Mortgages [Member] | Santa Monica Business Park [Member] | Forecast              
Debt Instrument [Line Items]              
Debt Instrument, Basis Spread on Variable Rate   1.60%          
Mortgages [Member] | Santa Monica Business Park [Member] | Extended Maturity              
Debt Instrument [Line Items]              
Debt Instrument, Maturity Date   Oct. 08, 2028          
Fixed Rate Mortgage [Member]              
Debt Instrument [Line Items]              
Mortgage notes payable, net (amounts related to VIEs of $3,282,027 and $3,277,185 at December 31, 2024 and December 31, 2023, respectively)         $ 4,300,000 $ 4,200,000  
Debt, Weighted Average Interest Rate | Rate         3.68% 3.70%  
Fixed Rate Mortgage [Member] | Maximum [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage | Rate         6.04% 6.04%  
Fixed Rate Mortgage [Member] | Minimum [Member]              
Debt Instrument [Line Items]              
Debt Instrument, Interest Rate, Stated Percentage | Rate         2.79% 2.79%  
[1] At December 31, 2023, the Company’s economic ownership was approximately 50%. On January 8, 2024, the Company completed the acquisition of its joint venture partner’s 50% economic ownership interest for a gross purchase price of
$10.0 million, as described in Note 3 and this Note 6. Since then, the Company accounts for its assets, liabilities and operations on a consolidated basis.