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Organization (Tables)
 12 Months Ended
Dec. 31, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
Summary of Company's portfolio
The following table summarizes the Company’s portfolio as of December 31, 2017:

Segments
 
Number of Properties
 
Square Feet
(unaudited)
Office
 
51

 
13,291,531

Media & Entertainment
 
3

 
1,249,927

Total(1)
 
54

 
14,541,458

_________________
(1)
Includes redevelopment, development and held for sale properties.
The following table summarizes the information on the acquisitions completed in 2017 and 2016:
Property
 
Submarket
 
Segment
 
Month of Acquisition
 
Square Feet
 
Purchase Price(1) (in millions)
Sunset Las Palmas Studios(2)
 
Hollywood
 
Media and Entertainment
 
May 2017
 
369,000

 
$
200.0

11601 Wilshire land(3)
 
West Los Angeles
 
Office
 
June 2017
 
N/A

 
50.0

6666 Santa Monica(4)
 
Hollywood
 
Media and Entertainment
 
June 2017
 
4,150

 
3.2

Total acquisitions in 2017
 
 
 
 
 
 
 
373,150

 
$
253.2

 
 
 
 
 
 
 
 
 
 
 
11601 Wilshire(5)
 
West Los Angeles
 
Office
 
July 2016
 
500,475

 
$
311.0

Hill7(6)
 
South Lake Union
 
Office
 
October 2016
 
285,680

 
179.8

Page Mill Hill(7)
 
Palo Alto
 
Office
 
December 2016
 
182,676

 
150.0

Total acquisitions in 2016
 
 
 
 
 
 
 
968,831

 
$
640.8

_____________ 
(1)
Represents purchase price before certain credits, prorations and closing costs.
(2)
The property consists of stages, production office and support space on 15 acres near Sunset Gower Studios and Sunset Bronson Studios. The purchase price above does not include equipment purchased by the Company for $2.8 million, which was transacted separately from the studio acquisition. In April 2017, the Company drew $150.0 million under the unsecured revolving credit facility to fund the acquisition.
(3)
On July 1, 2016 the Company purchased a partial interest in land held as a tenancy in common in conjunction with its acquisition of the 11601 Wilshire property. The land interest held as a tenancy in common was accounted for as an equity method investment. On June 15, 2017, the Company purchased the remaining interest, which was fair valued and allocated to land and building.
(4)
This parcel is adjacent to the Sunset Las Palmas Studios property.
(5)
Previously owned by an affiliate of Blackstone, the property has served as the Company’s corporate headquarters since its IPO. The Company funded this acquisition with proceeds from the unsecured revolving credit facility.
(6)
The Company purchased the property through a joint venture with the Canadian Pension Plan Investment Board. The Company has a 55% ownership interest in the consolidated joint venture. In conjunction with the acquisition, the joint venture closed a secured non-recourse loan in the amount of $101.0 million.
(7)
The Company funded this acquisition with proceeds from the unsecured revolving credit facility.