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Investment in Real Estate (Tables)

6 Months Ended

Jun. 30, 2022

Real Estate [Abstract]

Investment in Real Estate

The following table summarizes the Company’s investment in real estate, at cost as of:

			June 30, 2022						December 31, 2021
Land			$	1,395,528					$	1,313,385
Building and improvements			6,277,927						6,241,254
Tenant improvements			813,741						786,991
Furniture and fixtures			10,940						14,020
Property under development			64,204						5,827
INVESTMENT IN REAL ESTATE, AT COST			$	8,562,340					$	8,361,477

Purchase Price of Accounting

The following table represents the Company’s final purchase price accounting for the Washington 1000 and Sunset Gower Studios land acquisitions:

						Washington 1000						Sunset Gower Studios Land
TOTAL ACQUISITION COST(1)						$	86,313					$	22,156
Allocation of acquisition cost
Land						$	59,987					$	22,156
Building						11,053						—
Parking easement(2)						15,273						—
TOTAL						$	86,313					$	22,156

_____________

1.Includes capitalized transaction-related expenses.

2.Parking easement has an indefinite useful life and is recorded in deferred leasing costs and intangible assets, net on the Consolidated Balance Sheet.

Held For Sale

The following table summarizes the components of assets and liabilities associated with real estate held for sale as of June 30, 2022:

						Northview Center						Skyway Landing						Del Amo						6922 Hollywood
ASSETS
Investment in real estate, net						$	40,532					$	89,922					$	2,371					$	91,402
Accounts receivable, net						179						99						—						52
Straight-line rent receivables, net						1,047						613						—						4,526
Deferred leasing costs and intangible assets, net						1,070						501						330						2,006
Prepaid expenses and other assets, net						19						44						8						120
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE						$	42,847					$	91,179					$	2,709					$	98,106
LIABILITIES
Accounts payable, accrued liabilities and other						$	94					$	273					$	14					$	858
Intangible liabilities, net						—						—						—						96
Security deposits and prepaid rent						913						408						—						416
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE						$	1,007					$	681					$	14					$	1,370

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 Landing						Del Amo						6922 Hollywood
ASSETS
Investment in real estate, net						$	40,338					$	89,873					$	15,213					$	91,353
Accounts receivable, net						95						142						—						103
Straight-line rent receivables, net						901						1,659						—						4,714
Deferred leasing costs and intangible assets, net						751						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 rent						395						1,205						—						361
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE						$	579					$	1,478					$	12					$	1,829

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Schedule of Allocation of Acquisition Cost

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Tabular disclosure of long lived assets held for sale. Disclosure may include the description of the facts and circumstances leading to the expected disposal, manner and timing of disposal, the carrying value of the assets held for sale, the gain (loss) recognized in the income statement and the income statement caption that includes that gain (loss).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 360
-SubTopic 10
-Section 50
-Paragraph 3
-URI https://asc.fasb.org/extlink&oid=109226691&loc=d3e2941-110230

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Tabular disclosure of nonconsolidated investments in real estate including interests in corporations, partnerships and joint ventures. Disclosures may include summarized aggregate financial statements for the real estate investments.

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