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Investment in Real Estate
 3 Months Ended
Mar. 31, 2022
Real Estate [Abstract]  
Investment in Real Estate Investment in Real Estate
The following table summarizes the Company’s investment in real estate, at cost as of:

March 31, 2022December 31, 2021
Land$1,313,385 $1,313,385 
Building and improvements6,259,913 6,241,254 
Tenant improvements811,870 786,991 
Furniture and fixtures14,043 14,020 
Property under development6,061 5,827 
INVESTMENT IN REAL ESTATE, AT COST$8,405,272 $8,361,477 

Acquisitions of Real Estate

The Company had no acquisitions of real estate related to consolidated entities during the three months ended March 31, 2022.

Impairment of Long-Lived Assets

The Company assesses the carrying value of real estate assets and related intangibles whenever events or changes in circumstances indicate that the carrying amount of an asset or asset group may not be recoverable in accordance with GAAP. Impairment losses are recorded on real estate assets held for investment when indicators of impairment are present and the future undiscounted cash flows estimated to be generated by those assets are less than the assets’ carrying amount. The Company recognizes impairment losses to the extent the carrying amount exceeds the fair value, based on Level 1 or Level 2 inputs.

During the three months ended March 31, 2022, the Company recorded $12.0 million of impairment charges related to its Del Amo office property, which is classified as held for sale as of March 31, 2022 and December 31, 2021, due to a reduction in the estimated fair value of the property. The estimated fair value of $6.0 million was based on the estimated sales price of the property, which is classified within Level 2 of the fair value hierarchy. The Company did not recognize impairment charges during the three months ended March 31, 2021.

Dispositions of Real Estate

The Company had no dispositions of real estate during the three months ended March 31, 2022.
Held for Sale

The Company had four properties classified as held for sale as of March 31, 2022 and December 31, 2021. The properties were identified as non-strategic assets to the Company’s portfolio and are included in the Company’s Office segment. The following table summarizes information on properties held for sale as of March 31, 2022 and December 31, 2021:

PropertySegment SubmarketSquare Feet
Northview CenterOfficeLynnwood179,985 
Skyway LandingOfficeRedwood Shores246,997 
Del AmoOfficeTorrance113,000 
6922 HollywoodOfficeHollywood205,189 
TOTAL HELD FOR SALE745,171 

The following table summarizes the components of assets and liabilities associated with real estate held for sale as of March 31, 2022:

Northview Center Skyway LandingDel Amo6922 Hollywood
ASSETS
Investment in real estate, net$40,452 $89,891 $5,108 $91,337 
Accounts receivable, net— 972 — 166 
Straight-line rent receivables, net1,031 1,047 — 4,629 
Deferred leasing costs and intangible assets, net845 459 844 2,063 
Prepaid expenses and other assets, net14 35 8 119 
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE$42,342 $92,404 $5,960 $98,314 
LIABILITIES
Accounts payable, accrued liabilities and other$118 $— $106 $1,270 
Intangible liabilities, net
— — — 96 
Security deposits and prepaid rent435 2,719 — 370 
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE$553 $2,719 $106 $1,736 
The following table summarizes the components of assets and liabilities associated with real estate held for sale as of December 31, 2021:

Northview Center Skyway LandingDel Amo6922 Hollywood
ASSETS
Investment in real estate, net$40,338 $89,873 $15,213 $91,353 
Accounts receivable, net95 142 — 103 
Straight-line rent receivables, net901 1,659 — 4,714 
Deferred leasing costs and intangible assets, net751 450 2,742 1,999 
Prepaid expenses and other assets, net— — — 187 
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE$42,085 $92,124 $17,955 $98,356 
LIABILITIES
Accounts payable, accrued liabilities and other$184 $273 $12 $1,372 
Intangible liabilities, net
— — — 96 
Security deposits and prepaid rent395 1,205 — 361 
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE$579 $1,478 $12 $1,829