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Investment in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2018
Real Estate [Abstract]  
Real Estate Investment Financial Statements, Disclosure
The following table summarizes the Company’s investment in real estate, at cost as of:
December 31, 2018December 31, 2017
Land $1,372,872 $1,204,700 
Building and improvements 4,991,770 4,389,846 
Tenant improvements 510,217 397,012 
Furniture and fixtures 9,320 8,576 
Property under development 175,358 219,227 
INVESTMENT IN REAL ESTATE, AT COST(1)
$7,059,537 $6,219,361 
_____________ 
1.Excludes balances related to properties that have been classified as held for sale.
Schedule of Real Estate Properties Acquired
The following table summarizes the information on the acquisitions completed in 2018:
Property  SubmarketSegmentDate of Acquisition  Square Feet
Purchase Price(1) (in millions)
6605 Eleanor Avenue(2)
 Hollywood Studio6/7/201822,823 $18.0 
1034 Seward Street(2)
HollywoodStudio6/7/201818,673 12.0 
One Westside and 10850 Pico(3)
 West Los AngelesOffice8/31/2018 595,987 190.0 
Ferry Building(4)
San Francisco Office 10/9/2018268,018 291.0 
6660 Santa Monica(2)
Hollywood Studio 10/23/201811,200 10.0 
TOTAL ACQUISITIONS IN 2018916,701 $521.0 
_____________ 
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 owns 75% of the ownership interest in the consolidated joint venture that owns these properties. The acquisition was primarily funded by a draw under the unsecured revolving credit facility.
4.The Company owns 55% of the ownership interest in the consolidated joint venture that owns this property. The acquisition was primarily funded by a draw under the unsecured revolving credit facility.
Asset Acquisition, Purchase Price Allocation And Consideration Summary The following table represents the Company’s final purchase price accounting, as of the respective acquisition dates, for each of the Company’s acquisitions completed in 2018:
6605 Eleanor Avenue
1034 Seward StreetOne Westside and 10850 PicoFerry Building6660 Santa MonicaTotal
Total consideration
Cash consideration for real estate investments$18,071 $12,095 $40,986 $281,180 $10,355 $362,687 
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 entities— — 12,749 — — 12,749 
TOTAL CONSIDERATION$18,071 $12,095 $341,914 $281,180 $10,355 $663,615 
Allocation of consideration
Investment in real estate$18,071 $12,095 $196,444 $268,292 $10,355 $505,257 
U.S. Government securities — — 149,176 — — 149,176 
Deferred leasing costs and in-place lease intangibles(1)
— — 826 17,586 — 18,412 
Above-market leases(2)
— — 605 742 — 1,347 
Below-market ground lease(3)
— — — 4,528 — 4,528 
Below-market leases(4)
— — (5,137)(9,968)— (15,105)
TOTAL$18,071 $12,095 $341,914 $281,180 $10,355 $663,615 
_____________
1.Represents weighted-average amortization period of 6.9 years (before any renewal or extension options).
2.Represents weighted-average amortization period of 5.1 years (before any renewal or extension options).
3.Represents weighted-average amortization period of 48.6 years.
4.Represents weighted-average amortization period of 11.1 years.
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 properties sold in 2018, 2017 and 2016. These properties were considered non-strategic to the Company’s portfolio:
PropertyDate of Disposition  Square Feet
Sales Price(1) (in millions)
Embarcadero Place1/25/2018197,402 $136.0 
2600 Campus Drive (building 6 of Peninsula Office Park)1/31/201863,050 22.5 
2180 Sand Hill
3/1/201845,613 82.5 
9300 Wilshire 4/10/201861,422 13.8 
Peninsula Office Park 7/27/2018447,739 210.0 
TOTAL DISPOSITIONS IN 2018815,226 $464.8 
222 Kearny2/14/2017148,797 $51.8 
3402 Pico3/21/201750,687 35.0 
Pinnacle I and Pinnacle II
11/16/2017623,777 350.0 
TOTAL DISPOSITIONS IN 2017823,261 $436.8 
Bayhill Office Center1/14/2016  554,328 $215.0 
Patrick Henry4/7/2016  70,520 19.0 
One Bay Plaza6/1/2016  195,739 53.4 
12655 Jefferson 11/4/2016100,756 80.0 
TOTAL DISPOSITIONS IN 2016
   921,343 $367.4 
_____________ 
1.Represents gross sales price before certain credits, prorations and closing costs.
Discontinued Operations, Held-for-sale  
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]  
Schedule of Real Estate Held-for-sale
The following table summarizes the components of assets and liabilities associated with real estate held for sale as of:
December 31, 2018December 31, 2017
ASSETS
Investment in real estate, net$— $396,846 
Accounts receivable, net— 213 
Straight-line rent receivables, net— 5,225 
Deferred leasing costs and lease intangible assets, net— 9,589 
Prepaid expenses and other assets, net— 58 
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE$— $411,931 
LIABILITIES
Accounts payable, accrued liabilities and other— 1,808 
Lease intangible liabilities, net— 485 
Security deposits and prepaid rent— 2,610 
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE$— $4,903