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Subsequent Events | 3 Months Ended
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Mar. 31, 2016
Subsequent Events [Abstract] |
Subsequent Events | Subsequent Events Patrick Henry Drive disposition On April 7, 2016, the Company sold its 70,520-square-foot Patrick Henry Drive office property in Santa Clara, California for $19.0 million (before certain credits, prorations, and closing costs). The Company acquired Patrick Henry Drive from Blackstone as part of the EOP Acquisition in 2015. Sales agreements On April 25, 2016, the Company entered into an agreement to sell its now fully pre-leased, 100,007-square-foot 12655 Jefferson redevelopment in Playa Vista, California for $80.0 million (before certain credits, prorations and closing costs). Significant leasing activity On May 4, 2016, the Company executed a long-term renewal with Qualcomm Technologies Inc. for 365,502 square feet at the three-building, Skyport Plaza office campus in North San Jose, California. The terms of the renewal became effective as of April 1, 2016, increased office rental income and extended the expiration of this major lease to August 2022. Debt activity On May 3, 2016, the Company drew on the $175.0 million 5-Year Term Loan due November 2020 and $125.0 million 7-Year Term Loan due November 2022 that were entered into on November 17, 2015. Amounts drawn were used to fully pay down the 901 Market mortgage loan and unsecured revolving credit facility, and partially pay down the Sunset Gower/Sunset Bronson mortgage loans and the 5-Year Term Loan due April 2020. Additionally, the Company entered into a interest rate swap on its 7-Year Term Loan due November 2022 to effectively fix the interest rate at 3.03% to 3.98%.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References No definition available. + Details
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