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Investment in Real Estate (Tables)

9 Months Ended

Sep. 30, 2024

Real Estate [Abstract]

Schedule of Investment in Real Estate

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

			September 30, 2024						December 31, 2023
Land			$	1,244,284					$	1,220,339
Building and improvements			6,162,832						5,969,364
Tenant improvements			734,929						818,653
Furniture and fixtures			6,118						8,609
Property under development			169,922						195,931
INVESTMENT IN REAL ESTATE, AT COST			$	8,318,085					$	8,212,896

Schedule of Dispositions of Real Estate

The following table summarizes information on dispositions completed during the nine months ended September 30, 2023. These properties were considered non-strategic to the Company’s portfolio:

Property						Segment						Date of Disposition						Square Feet (unaudited)						Sales Price(1) (in millions)						Gain on Sale(2) (in millions)
Skyway Landing						Office						2/6/2023						246,997						$	102.0					$	7.0
604 Arizona						Office						8/24/2023						44,260						$	32.5					$	10.3
3401 Exposition						Office						8/25/2023						63,376						$	40.0					$	5.8

__________________ 

1.Represents gross sales price before certain credits, prorations and closing costs.

2.Included within gain on sale of real estate on the Consolidated Statement of Operations.

Schedule of Held For Sale

The following table summarizes the components of assets and liabilities associated with real estate held for sale as of September 30, 2024:

Investment in real estate, net						$	31,387
Straight-line rent receivables, net						964
Deferred leasing costs and intangible assets, net						1,328
Operating lease right-of-use asset						5,991
Prepaid expenses and other assets, net						265
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE						$	39,935
LIABILITIES
Accounts payable, accrued liabilities and other						$	13,284
Operating lease liabilities						16,007
Intangible liabilities, net						228
Security deposits and prepaid rent						1,545
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE						$	31,064

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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).

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