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Investment in Real Estate (Tables)
 12 Months Ended
Dec. 31, 2020
Real Estate [Abstract]  
Investment in Real Estate
The following table summarizes the Company’s investment in real estate, at cost as of:
December 31, 2020December 31, 2019
Land$1,351,888 $1,313,412 
Building and improvements5,840,819 5,189,342 
Tenant improvements728,111 631,459 
Furniture and fixtures12,250 10,693 
Property under development281,949 124,222 
INVESTMENT IN REAL ESTATE, AT COST$8,215,017 $7,269,128 
Real Estate Acquisitions, Allocation of Consideration
The following table represents the Company’s final purchase price accounting for the 1918 Eighth acquisition:

TOTAL CONSIDERATION$593,945 
Allocation of consideration
Investment in real estate$584,250 
Deferred leasing costs and in-place lease intangibles(1)
37,563 
Above-market leases(2)
335 
Below-market leases(3)
(28,203)
TOTAL$593,945 
_____________
1.Represents weighted-average amortization period of 9.1 years (before any renewal or extension options).
2.Represents weighted-average amortization period of 7.8 years (before any renewal or extension options).
3.Represents weighted-average amortization period of 9.3 years (before any renewal or extension options).
Real Estate Dispositions The following table summarizes information on dispositions completed during the years ended December 31, 2019 and 2018:
PropertySegmentDate of Disposition Square Feet
Sales Price(1) (in millions)
Campus Center OfficeOffice7/24/2019471,580 $70.3 
Campus Center LandOffice7/30/2019946,350 78.1 
TOTAL DISPOSITIONS IN 20191,417,930 $148.4 
Embarcadero PlaceOffice1/25/2018197,402 $136.0 
2600 Campus Drive (building 6 of Peninsula Office Park)Office1/31/201863,050 22.5 
2180 Sand Hill
Office3/1/201845,613 82.5 
9300 WilshireOffice4/10/201861,422 13.8 
Peninsula Office ParkOffice7/27/2018447,739 210.0 
TOTAL DISPOSITIONS IN 2018815,226 $464.8 
_____________ 
1.Represents gross sales price before certain credits, prorations and closing costs.