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Investment in Real Estate (Tables) | 9 Months Ended
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Sep. 30, 2016
Real Estate [Abstract] |
Schedule of Aggregate Preliminary Purchase Price Allocation | The following table represents our aggregate preliminary purchase price accounting:
| 11601 Wilshire Boulevard
Investment in real estate, net | $ | 300,430 |
Above-market leases(1) | 167 |
Deferred leasing costs and in-place intangibles(2) | 13,884 |
Below-market leases(3) | (6,562 | )
Net asset and liabilities assumed | $ | 307,919 |
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(1) | Represents weighted-average amortization period of 6.2 years.
(2) | Represents weighted-average amortization period of 5.6 years.
(3) | Represents weighted-average amortization period of 7.3 years.
Schedule of Pro Forma Information | The table below shows the pro forma financial information for the nine months ended September 30, 2016 and 2015 as if the 11601 Wilshire Boulevard property had been acquired as of January 1, 2015:
| Nine months ended September 30,
| 2016 |  | 2015
Total revenues | $ | 483,193 |  |  | $ | 382,327 |
Net income (loss) | 11,608 |  |  | (18,767 | )
Schedule of Properties Sold | The following table summarizes the properties sold during the nine months ended September 30, 2016 and September 30, 2015. These properties were non-strategic assets to the Company’s portfolio:
Property |  | Date of Disposition |  | Number of Buildings |  | Square Feet |  | Sales Price(1) (in millions)
Bayhill Office Center |  | January 14, 2016 |  | 4 |  | 554,328 |  |  | $ | 215.0 |
Patrick Henry Drive |  | April 7, 2016 |  | 1 |  | 70,520 |  |  | 19.0 |
One Bay Plaza |  | June 1, 2016 |  | 1 |  | 195,739 |  |  | 53.4 |
Total dispositions for the nine months ended September 30, 2016 |  |  |  | 6 |  | 820,587 |  |  | $ | 287.4 |
First Financial |  | March 6, 2015 |  | 1 |  | 223,679 |  |  | $ | 89.0 |
Bay Park Plaza |  | September 29, 2015 |  | 1 |  | 260,183 |  |  | 90.0 |
Total dispositions for the nine months ended September 30, 2015(2) |  |  |  | 2 |  | 483,862 |  |  | $ | 179.0 |
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(1) | Represents gross sales price before certain credits, prorations and closing costs.
(2) | Excludes the disposition of 45% interest in 1455 Market Street office property on January 7, 2015.
Summary of Assets and Liabilities Associated with Real Estate Held-for-sale | The following table summarizes the components of assets and liabilities associated with real estate held for sale as of September 30, 2016 and December 31, 2015:
| September 30, 2016 |  | December 31, 2015
ASSETS |  |  |
Investment in real estate, net | $ | 58,915 |  |  | $ | 313,344 |
Straight-line rent receivables, net | 292 |  |  | 2,016 |
Deferred leasing costs and lease intangible assets, net | 2,774 |  |  | 14,415 |
Other | 342 |  |  | 525 |
Assets associated with real estate held for sale | $ | 62,323 |  |  | $ | 330,300 |
LIABILITIES |  |  |
Accounts payable and accrued liabilities | $ | 3,634 |  |  | $ | 3,831 |
Other | 10,908 |  |  | 12,960 |
Liabilities associated with real estate held for sale | $ | 14,542 |  |  | $ | 16,791 |
Schedule of Costs Capitalized | The Company recognized the following capitalized costs during the periods presented:
| Three Months Ended September 30, |  | Nine Months Ended September 30,
| 2016 |  | 2015 |  | 2016 |  | 2015
Capitalized personnel costs | $ | 2,351 |  |  | $ | 2,227 |  |  | $ | 6,989 |  |  | $ | 5,063 |
Capitalized interest | 2,960 |  |  | 1,279 |  |  | 8,414 |  |  | 4,561 |

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- Definition Tabular disclosure of information related to a disposal group. Includes, but is not limited to, a discontinued operation, disposal classified as held-for-sale or disposed of by means other than sale or disposal of an individually significant component. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 45 -Paragraph 11 -URI http://asc.fasb.org/extlink&oid=65878427&loc=SL51721533-107759 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721665-107760 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1474-107760 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=64827811&loc=d3e1361-107760 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 7 -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721683-107760 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64862545&loc=SL51724579-110230 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5C -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721675-107760 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 4A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721663-107760 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 360 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=64862545&loc=d3e2941-110230 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5B -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721673-107760 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 3A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721659-107760 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5A -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721671-107760 Reference 13: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 20 -Section 50 -Paragraph 5D -URI http://asc.fasb.org/extlink&oid=64827811&loc=SL51721677-107760 + Details
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