Organization, Ownership, and Basis of Presentation (Tables)

6 Months Ended

Jun. 30, 2025

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Our stabilized portfolio of operating properties was comprised of the following properties at June 30, 2025:


	Number of Buildings	Rentable Square Feet	Number of Tenants	Percentage Occupied (1)
Stabilized Office Properties (2)	118	16,395,491	440	80.8	%

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(1)Represents economic occupancy for space where we have achieved revenue recognition for the associated lease agreements.

(2)Includes stabilized life science and retail space.


	Number of Properties	Number of Units	2025 Average Occupancy
Stabilized Residential Properties	3	1,001	94.5	%

As of June 30, 2025, the following properties were excluded from our stabilized portfolio:


	Number of Properties / Projects	Actual / Estimated Rentable Square Feet (1)
Properties held for sale (2)	1	663,460
In-process development projects - tenant improvement	1	875,000
In-process redevelopment projects - tenant improvement	2	100,000

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(1)For the property classified as held for sale, represents actual rentable square feet and consists of four buildings. For the in-process development and redevelopment projects in the tenant improvement phase, represents estimated rentable square feet upon completion.

(2)See Note 2 “Dispositions and Real Estate Held for Sale” for additional information.

Schedule of Consolidated Property Partnership Ownership Percentage

Consolidated Property Partnership

Property Address

Ownership Interest (1)

100 First Street Member, LLC

100 1st Street, San Francisco, CA 94105

56%

303 Second Street Member, LLC

303 2nd Street, San Francisco, CA 94107

56%

Redwood City Partners, LLC

900 Jefferson Avenue, Redwood City, CA 94063

93%

900 Middlefield Road, Redwood City, CA 94063

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(1)The remaining interests in all three property partnerships were owned by unrelated third parties.