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Dispositions and Real Estate Held for Sale (Tables)
 6 Months Ended
Jun. 30, 2025
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of operating property dispositions and real estate held for sale
The following table summarizes the one operating property sold during the six months ended June 30, 2025:
PropertyMonth of DispositionNumber of BuildingsRentable
Square Feet
Sales Price
(in millions) (1)
501 Santa Monica BoulevardJune178,509 $40.0 
___________________________
(1)Represents gross sales price before the impact of broker commissions, closing costs, and purchase price credits.
During the three months ended June 30, 2025, we classified a four-building office property in Silicon Valley as Held for Sale. The property totals 663,460 square feet and is expected to close late in the third quarter for a gross sales price of $365.0 million.

The major classes of assets and liabilities of the property classified as held for sale as of June 30, 2025 were as follows:

Real estate and other assets held for sale, net(in thousands)
Land and improvements$118,514 
Buildings and improvements194,357 
     Total real estate held for sale312,871 
Accumulated depreciation and amortization(72,526)
     Total real estate held for sale, net240,345 
Current receivables, net36 
Deferred rent receivables, net6,525 
Deferred leasing costs and acquisition-related intangibles, net7,782 
Prepaid expenses and other assets, net1,107 
     Total real estate and other assets held for sale, net$255,795 
Liabilities related to real estate assets held for sale
Accounts payable, accrued expenses, and other liabilities$591 
Deferred revenue and acquisition-related intangible liabilities, net1,091 
Rents received in advance and tenant security deposits3,205 
    Total liabilities related to real estate assets held for sale$4,887