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Investments in Real Estate and Real Estate Under Construction (Notes) | 3 Months Ended
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Mar. 31, 2014
Investments in Real Estate and Real Estate Under Construction [Abstract] |
Investments in Real Estate and Real Estate Under Construction | Investments in Real Estate and Real Estate Under Construction The Company, through property owner subsidiaries, completed the following acquisition and build-to-suit transactions during the three months ended March 31, 2014:
Property Type | Location | Acquisition/Completion Date | Initial Cost Basis | Lease Expiration | Land and Land Estate |  | Building and Improvements |  | Lease in-place Value Intangible
Industrial | Rantoul, IL | January 2014 | $ | 41,277 |  | 10/2033 | $ | 1,304 |  |  | $ | 32,562 |  |  | $ | 7,411 |
Office | Parachute, CO | January 2014 | $ | 13,928 |  | 10/2032 | $ | 1,400 |  |  | $ | 10,751 |  |  | $ | 1,777 |
Office | Rock Hill, SC | March 2014 | $ | 24,350 |  | 03/2034 | $ | 1,601 |  |  | $ | 18,989 |  |  | $ | 3,760 |
|  |  | $ | 79,555 |  |  | $ | 4,305 |  |  | $ | 62,302 |  |  | $ | 12,948 |
The Company recognized aggregate acquisition expenses of $308 and $193 for the three months ended March 31, 2014 and 2013, respectively, which are included as operating expenses within the Company's unaudited condensed consolidated statements of operations. The Company is engaged in various forms of build-to-suit development activities. The Company, through lender subsidiaries and property owner subsidiaries, may enter into the following acquisition, development and construction arrangements: (1) lend funds to construct build-to-suit projects subject to a single-tenant lease and agree to purchase the properties upon completion of construction and commencement of a single-tenant lease, (2) hire developers to construct built-to-suit projects on owned properties leased to single tenants, (3) fund the construction of build-to-suit projects on owned properties pursuant to the terms in single-tenant lease agreements or (4) enter into purchase and sale agreements with developers to acquire single-tenant build-to-suit properties upon completion. As of March 31, 2014, the Company had the following development arrangements outstanding:
Location | Property Type | Square Feet |  | Expected Maximum Commitment/Contribution ($ millions) |  | Lease Term (Years) |  | Estimated Completion Date
Bingen, WA | Industrial | 124,000 |  |  | $ | 18.9 |  |  | 12 |  | 2Q 14
Las Vegas, NV | Industrial | 180,000 |  |  | $ | 29.6 |  |  | 20 |  | 3Q 14
Richmond, VA | Office | 279,000 |  |  | $ | 98.6 |  |  | 15 |  | 3Q 15
Lake Jackson, TX | Office/R&D | 664,000 |  |  | $ | 166.2 |  |  | 20 |  | 4Q 16
|  | 1,247,000 |  |  | $ | 313.3 |  |  |  |  |
The Company has variable interests in certain developer entities constructing the facilities but is not the primary beneficiary of the entities as the Company does not have a controlling financial interest. As of March 31, 2014 and December 31, 2013, the Company's aggregate investment in development arrangements was $79,940 and $74,350, respectively, and is presented as investments in real estate under construction in the accompanying unaudited condensed consolidated balance sheets. The Company capitalized interest of $530 and $833 during the three months ended March 31, 2014 and 2013, respectively, relating to build-to-suit activities. In addition, the Company has commitments to acquire the following properties:
Location | Property Type | Estimated Acquisition Cost ($000) |  | Estimated Acquisition Date |  | Lease Term (Years)
Lewisburg, TN | Industrial | $ | 13,320 |  |  | 2Q 14 |  | 12
Auburn Hills, MI | Office | 40,025 |  |  | 1Q 15 |  | 14
|  | $ | 53,345 |  |  |  |  |
The Company can give no assurances that any of these acquisitions under contract or build-to-suit transactions will be consummated.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 02 -Paragraph 6 -Subparagraph a -Article 5 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 970 -SubTopic 360 -Section S99 -Paragraph 1 -Subparagraph (SX 210.12-28) -URI http://asc.fasb.org/extlink&oid=6590653&loc=d3e638233-123024 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 28 -Article 12 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 04 -Paragraph c -Subparagraph Schedule III -Article 5 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 10 -Subparagraph 4 -Article 9 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher SEC -Name Regulation S-X (SX) -Number 210 -Section 03 -Paragraph 11 -Article 9 + Details
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