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Investment in Real Estate (Tables)
 9 Months Ended
Sep. 30, 2018
Real Estate [Abstract]  
Summary of investment in real estate
The following table summarizes the Company’s investment in real estate, at cost as of:
September 30, 2018December 31, 2017
Land $1,365,387 $1,204,700 
Building and improvements 4,593,702 4,389,846 
Tenant improvements 469,556 397,012 
Furniture and fixtures 8,965 8,576 
Property under development 252,764 219,227 
INVESTMENT IN REAL ESTATE, AT COST(1)
$6,690,374 $6,219,361 
_____________ 
1. Excludes balances related to properties that have been classified as held for sale.
Summary of acquisitions
The following table summarizes the information on the acquisitions completed during the nine months ended September 30, 2018:
Property
Submarket
Segment
Date of Acquisition
Square Feet (unaudited)
Purchase Price(1) (in millions)
6605 Eleanor Avenue(2)
Hollywood Studio 6/7/201822,823 $18.0 
1034 Seward Street(2)
Hollywood
Studio
6/7/201818,673 12.0 
One Westside and 10850 Pico(3)
West Los Angeles Office 8/31/2018595,987 190.0 
TOTAL ACQUISITIONS
637,483 $220.0 
_____________ 
1. Represents purchase price before certain credits, prorations and closing costs.
2. The properties are adjacent to, and now form part of, the Sunset Las Palmas Studios property and consist of sound stages, production office and support space.
3. The Company purchased the property through a joint venture with Macerich. The Company owns 75% of the ownership interest in the consolidated joint venture.
Summary of acqusitions, purchase price allocation The following table represents the Company’s final aggregate purchase price accounting, as of the respective acquisition dates, for each of the Company’s acquisitions completed in the nine months ended September 30, 2018:
6605 Eleanor Avenue 1034 Seward Street One Westside and 10850 Pico 
Total
Total consideration 
Cash consideration for real estate investments $18,071 $12,095 $40,986 $71,152 
Cash consideration for U.S. Government securities — — 149,176 149,176 
Debt assumed — — 139,003 139,003 
Redeemable non-controlling interest in consolidated real estate entity — — 12,749 12,749 
TOTAL CONSIDERATION $18,071 $12,095 $341,914 $372,080 
Allocation of consideration 
Investment in real estate $18,071 $12,095 $196,444 $226,610 
U.S. Government securities — — 149,176 149,176 
Deferred leasing costs and in-place lease intangibles(1)
— — 826 826 
Above-market leases(2)
— — 605 605 
Below-market leases(3)
— — (5,137)(5,137)
TOTAL $18,071 $12,095 $341,914 $372,080 
_____________ 
1. Represents weighted-average amortization period of 4.22 years.  
2. Represents weighted-average amortization period of 5.42 years.
3. Represents weighted-average amortization period of 17.19 years.
Schedule of dispositions
The following table summarizes the properties sold during the nine months ended September 30, 2018. These properties were non-strategic assets to the Company’s portfolio:
Property
Date of Disposal
Approximate Square Feet
Sales Price(1) 
(in millions)
Embarcadero Place 1/25/2018197,402 $136.0 
2600 Campus Drive (building 6 of Peninsula Office Park)
1/31/201863,050 22.5 
2180 Sand Hill 3/1/2018 45,613 82.5 
9300 Wilshire
4/10/201861,422 13.8 
Peninsula Office Park 7/27/2018447,739 210.0 
TOTAL DISPOSITIONS 815,226 $464.8 
_________________ 
1. Represents gross sales price before certain credits, prorations and closing costs.
Schedule of components 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, 2018December 31, 2017
ASSETS 
Investment in real estate, net $— $396,846 
Accounts receivable, net  — 213 
Straight-line rent receivables, net — 5,225 
Deferred leasing costs and lease intangible assets, net — 9,589 
Prepaid expenses and other assets, net — 58 
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE $— $411,931 
LIABILITIES 
Accounts payable, accrued liabilities and other $— $1,808 
Lease intangible liabilities, net — 485 
Security deposits and prepaid rent — 2,610 
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE $— $4,903