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Summary of Significant Accounting Policies (Tables) | 12 Months Ended
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Dec. 31, 2020
Accounting Policies [Abstract] |
Schedule of Variable Interest Entities | As of December 31, 2020, the operating partnership has determined that twelve of its joint ventures met the definition of a VIE and are consolidated:
Entity | Property | Ownership Interest
Hudson 1455 Market, L.P. | 1455 Market | 55.0 | %
Hudson 1099 Stewart, L.P. | Hill7 | 55.0 | %
HPP-MAC WSP, LLC | One Westside and 10850 Pico | 75.0 | %
Hudson One Ferry REIT, L.P. | Ferry Building | 55.0 | %
Sunset Bronson Entertainment Properties, LLC | Sunset Bronson Studios, ICON, CUE | 51.0 | %
Sunset Gower Entertainment Properties, LLC | Sunset Gower Studios | 51.0 | %
Sunset Las Palmas Entertainment Properties, LLC | Sunset Las Palmas Studios, Harlow | 51.0 | %
Sunset Services Holdings, LLC | None(1) | 51.0 | %
Sunset Studios Holdings, LLC | EPIC | 51.0 | %
Hudson Media and Entertainment Management, LLC | None(2) | 51.0 | %
Hudson 6040 Sunset, LLC | 6040 Sunset | 51.0 | %
Hudson 1918 Eighth, L.P. | 1918 Eighth | 55.0 | %
__________________ 1.Sunset Services Holdings, LLC wholly owns Services Holdings, LLC, which owns 100% interests in Sunset Bronson Services, LLC, Sunset Gower Services, LLC and Sunset Las Palmas Services, LLC, which provide services to the respective entertainment properties above. 2.Hudson Media and Entertainment Management, LLC manages the properties comprising the Hollywood Media Portfolio.
Schedule of Costs Capitalized | The Company recognized the following capitalized costs associated with development and redevelopment activities:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Capitalized personnel costs |  | $ | 15,843 |  |  | $ | 9,218 |  |  | $ | 12,233 |
Capitalized interest |  | 19,509 |  |  | 16,258 |  |  | 14,815 |
Schedule of Property, Plant and Equipment Useful Lives | The Company computes depreciation and amortization using the straight-line method over the estimated useful lives of the assets as represented in the table below:
Asset Description |  | Estimated Useful Life (Years)
Building and improvements |  | Shorter of the ground lease term or 39
Land improvements |  | 15
Furniture and fixtures |  | 5 to 7
Tenant improvements |  | Shorter of the estimated useful life or the lease term
Schedule of Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash at the beginning and end of the periods presented:
|  | December 31,
|  | 2020 |  | 2019 |  | 2018
BEGINNING OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 46,224 |  |  | $ | 53,740 |  |  | $ | 78,922 |
Restricted cash |  | 12,034 |  |  | 14,451 |  |  | 22,358 |
TOTAL |  | $ | 58,258 |  |  | $ | 68,191 |  |  | $ | 101,280 |
END OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,686 |  |  | $ | 46,224 |  |  | $ | 53,740 |
Restricted cash |  | 35,854 |  |  | 12,034 |  |  | 14,451 |
TOTAL |  | $ | 149,540 |  |  | $ | 58,258 |  |  | $ | 68,191 |
Schedule of Restricted Cash and Cash Equivalents | The following table provides a reconciliation of cash and cash equivalents and restricted cash at the beginning and end of the periods presented:
|  | December 31,
|  | 2020 |  | 2019 |  | 2018
BEGINNING OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 46,224 |  |  | $ | 53,740 |  |  | $ | 78,922 |
Restricted cash |  | 12,034 |  |  | 14,451 |  |  | 22,358 |
TOTAL |  | $ | 58,258 |  |  | $ | 68,191 |  |  | $ | 101,280 |
END OF THE PERIOD |  |  |  |  |  |
Cash and cash equivalents |  | $ | 113,686 |  |  | $ | 46,224 |  |  | $ | 53,740 |
Restricted cash |  | 35,854 |  |  | 12,034 |  |  | 14,451 |
TOTAL |  | $ | 149,540 |  |  | $ | 58,258 |  |  | $ | 68,191 |
Schedule of Prepaid Expenses and Other Assets, Net | The following table represents the Company’s prepaid expenses and other assets, net as of:
|  | December 31, 2020 |  | December 31, 2019
Derivative assets |  | $ | 5 |  |  | $ | 479 |
Goodwill |  | 8,754 |  |  | 8,754 |
Non-real estate investments |  | 4,088 |  |  | 5,545 |
Deposits and pre-development costs for future acquisitions |  | 28,488 |  |  | 21,585 |
Deferred financing costs |  | 1,216 |  |  | 3,246 |
Prepaid insurance |  | 5,100 |  |  | 3,463 |
Prepaid property tax |  | 2,138 |  |  | 2,070 |
Other |  | 22,878 |  |  | 23,832 |
PREPAID EXPENSES AND OTHER ASSETS, NET |  | $ | 72,667 |  |  | $ | 68,974 |
Schedule of Revenue Streams | The Company has compiled an inventory of its sources of revenues and has identified the following material revenue streams: (i) rental revenues (ii) tenant recoveries and other tenant-related revenues (iii) ancillary revenues (iv) other revenues and (v) sale of real estate.
Revenue Stream |  | Components |  | Financial Statement Location (1)
Rental revenues |  | Office rentals, stage rentals and storage rentals |  | Office and studio segments: rental
Tenant recoveries and other tenant-related revenues |  | Reimbursement of real estate taxes, insurance, repairs and maintenance, other operating expenses and must-take parking revenues |  | Office segment: rental Studio segment: rental and service revenues and other
Ancillary revenues |  | Revenues derived from tenants’ use of lighting, equipment rental, power, HVAC and telecommunications (i.e., telephone and internet) |  | Studio segment: service revenues and other
Other revenues |  | Parking revenue that is not associated with lease agreements and other |  | Office and studio segments: service revenues and other
Sale of real estate |  | Gains on sales derived from cash consideration less cost basis |  | Gains on sale of real estate
_________________ 1.The financial statement locations stated above are for the years ended December 31, 2020 and 2019, after the adoption of ASC 842, and do not reflect the locations for the year ended December 31, 2018. The following table summarizes the Company’s revenue streams that are accounted for under ASC 606:
|  | Year Ended December 31,
|  | 2020 |  | 2019 |  | 2018
Ancillary revenues |  | $ | 16,781 |  |  | $ | 27,951 |  |  | $ | 24,138 |
Other revenues |  | $ | 16,582 |  |  | $ | 28,066 |  |  | $ | 25,298 |
Studio-related tenant recoveries(1) |  | $ | 1,560 |  |  | $ | 2,261 |  |  | N/A
_________________ 1.Studio-related tenant recoveries are accounted for under ASC 606 effective January 1, 2019. The following table summarizes the Company’s receivables that are accounted for under ASC 606:
|  | December 31, 2020 |  | December 31, 2019
Ancillary revenues |  | $ | 1,700 |  |  | $ | 1,652 |
Other revenues |  | $ | 1,058 |  |  | $ | 2,417 |
Studio-related tenant recoveries |  | $ | — |  |  | $ | 26 |

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