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Investment in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Investment Property
A summary of the activity of our investment in real estate including investment in real estate held for sale (Bayhill, First Financial and Tierrasanta) is as follows:
 
 
Year Ended 
 December 31, 2015
 
Year Ended 
 December 31, 2014
 
Year Ended 
 December 31, 2013
Investment in real estate
 
 
 
 
 
 
Beginning balance
 
$
2,239,741

 
$
2,035,330

 
$
1,475,955

Acquisitions
 
3,699,289

 
114,008

 
538,322

Improvements, capitalized costs
 
198,561

 
128,018

 
89,707

Disposal
 
(13,556
)
 
(23,977
)
 
(9,638
)
Cost of property sold
 
(147,509
)
 
(13,638
)
 
(59,016
)
Ending Balance
 
5,976,526

 
2,239,741

 
2,035,330

Reclassification to assets associated with real estate held for sale
 
(206,990
)
 
(68,446
)
 
(82,305
)
Total Investment in real estate
 
$
5,769,536

 
$
2,171,295

 
$
1,953,025

 
 
 
 
 
 
 
Accumulated depreciation
 
 
 
 
 
 
Beginning balance
 
$
(142,561
)
 
$
(116,342
)
 
$
(85,184
)
Depreciation expense
 
(151,066
)
 
(50,044
)
 
(41,454
)
Disposals
 
12,999

 
22,310

 
4,837

Cost of property sold
 
7,904

 
1,515

 
5,459

Ending Balance
 
(272,724
)
 
(142,561
)
 
(116,342
)
Reclassification to assets associated with real estate held for sale
 
3,650

 
7,904

 
7,931

Total Accumulated depreciation
 
$
(269,074
)
 
$
(134,657
)
 
$
(108,411
)
Schedule of Business Acquisitions, by Acquisition
The following table represents our aggregate preliminary purchase price allocation for each of these acquisitions:
 
EOP Northern California Portfolio
 
4th & Traction
 
405 Mateo
 
 
Date of Acquisition
April 1, 2015
 
May 22, 2015
 
August 17, 2015
 
Total
Consideration paid
 
 
 
 
 
 
 
Cash consideration
$
1,715,346

 
$
49,250

 
$
40,000

 
$
1,804,596

Common stock
87

 
—

 
—

 
87

Additional paid-in capital
285,358

 
—

 
—

 
285,358

Non-controlling common units in the Operating Partnership
1,814,936

 
—

 
—

 
1,814,936

Total consideration
$
3,815,727

 
$
49,250

 
$
40,000

 
$
3,904,977

Allocation of consideration paid
 
 
 
 
 
 
 
Investment in real estate, net
$
3,610,039

 
$
49,250

 
40,000

 
$
3,699,289

Above-market leases(1)
28,759

 
—

 
—

 
28,759

Below-market ground leases(2)
52,065

 
—

 
—

 
52,065

Deferred leasing costs and in-place intangibles(3)
225,431

 
—

 
—

 
225,431

Below-market leases(4)
(99,472
)
 
—

 
—

 
(99,472
)
Above-market ground leases(5)
(1,095
)
 
—

 
—

 
(1,095
)
Total consideration paid
$
3,815,727

 
$
49,250

 
$
40,000

 
$
3,904,977

________________
(1)
Represents weighted-average amortization period of 3.0 years.
(2)
Represents weighted-average amortization period of 27.7 years.
(3)
Represents weighted-average amortization period of 3.6 years.
(4)
Represents weighted-average amortization period of 4.3 years.
(5)
Represents weighted-average amortization period of 25.4 years.

    


    
    
During 2014, we acquired the following properties: Merrill Place, 3402 Pico Blvd. and 12655 Jefferson. The results of operations for each of these acquisitions are included in our consolidated statements of operations from the date of acquisition. The following table represents our final purchase price accounting for each of these acquisitions:

 
Merrill Place
 
3402 Pico Blvd.
 
12655 Jefferson
 
 
Date of Acquisition
February 12, 2014
 
February 28, 2014
 
October 17, 2014
 
Total
Consideration paid
 
 
 
 
 
 
 
Cash consideration
$
57,034

 
$
18,546

 
$
38,000

 
$
113,580

Total consideration
$
57,034

 
$
18,546

 
$
38,000

 
$
113,580

Allocation of consideration paid
 
 
 
 
 
 
 
Investment in real estate, net
$
57,508

 
$
18,500

 
$
38,000

 
$
114,008

Above-market leases(1)
173

 
—

 
—

 
173

Deferred leasing costs and lease intangibles(2)
3,163

 
—

 
—

 
3,163

Below-market leases(3)
(3,315
)
 
—

 
—

 
(3,315
)
Other (liabilities) asset assumed, net
(495
)
 
46

 
—

 
(449
)
Total consideration paid
$
57,034

 
$
18,546

 
$
38,000

 
$
113,580

________________
(1)
Represents weighted-average amortization period of 7.6 years.
(2)
Represents weighted-average amortization period of 4.8 years.
(3)
Represents weighted-average amortization period of 5.8 years.
Business Acquisition, Pro Forma Information
The table below shows the pro forma financial information (unaudited) for the years ended December 31, 2015 and 2014 as if the EOP Northern California Properties had been acquired as of January 1, 2014.
 
 
Year Ended December 31,
 
2015
 
2014
Total revenues
$
599,441

 
$
572,277

Net loss
$
(6,252
)
 
$
26,293
Discontinued Operations, Held-for-sale  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Held for Sale
The following table sets forth the discontinued operations for the years ended December 31, 2015, 2014 and 2013 for the City Plaza:
 
 
Year Ended December 31,
 
 
2015
 
2014
 
2013
Total office revenues
 
$
—

 
$
—

 
$
4,321

Office operating expenses
 
—

 
(164
)
 
(1,961
)
Depreciation and amortization
 
—

 
—

 
(789
)
(Loss) income from discontinued operations
 
$
—

 
$
(164
)
 
$
1,571
Disposal Group, Not Discontinued Operations  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Held for Sale
The following table summarizes the components that comprise the assets and liabilities associated with real estate held for sale as of December 31, 2015 and 2014:

 
 
Year Ended December 31,
 
 
2015
 
2014
ASSETS
 
 
 
 
Investment in real estate, net
 
$
203,340

 
$
60,542

Restricted cash
 
—

 
2,839

Straight-line rent receivables
 
1,788

 
2,151

Deferred leasing costs and lease intangibles, net
 
10,867

 
2,457

Other
 
400

 
176

Assets associated with real estate held for sale
 
$
216,395

 
$
68,165

 
 
 
 
 
LIABILITIES AND EQUITY
 
 
 
 
Liabilities:
 
 
 
 
Notes payable
 
$
—

 
$
42,080

Accounts payable and accrued liabilities
 
2,188

 
322

Other
 
11,104

 
443

Liabilities associated with real estate held for sale
 
$
13,292

 
$
42,845