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Investment in Real Estate (Tables)

12 Months Ended

Dec. 31, 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:

			December 31, 2024						December 31, 2023
Land			$	1,235,974					$	1,220,339
Building and improvements			6,101,787						5,969,364
Tenant and leasehold improvements			728,186						818,653
Furniture and fixtures			5,895						8,609
Property under development			161,444						195,931
INVESTMENT IN REAL ESTATE, AT COST			$	8,233,286					$	8,212,896

Schedule of Real Estate Dispositions

The following table summarizes information on dispositions completed during the years ended December 31, 2024 and 2023:

Property						Segment						Date of Disposition						Square Feet (unaudited)						Sales Price(1) (in millions)						(Loss) Gain on Sale(2) (in millions)
2024 Dispositions
3176 Porter						Office						12/10/2024						46,759						$	24.8					$	(2.2)
2023 Dispositions
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
Cloud10						Office						11/21/2023						350,000						43.5						19.9
One Westside & Westside Two						Office						12/27/2023						686,725						700.0						60.2
Total 2023 Dispositions																								$	918.0					$	103.2

_____________ 

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

2.Included within (loss) gain on sale of real estate on the Consolidated Statements 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 December 31, 2024:

			Foothill Research Center						Maxwell
ASSETS
Investment in real estate, net			$	31,387					$	41,210
Straight-line rent receivables, net			386						2,206
Deferred leasing costs and intangible assets, net			1,328						528
Operating lease right-of-use asset			5,890						—
Prepaid expenses and other assets, net			102						76
ASSETS ASSOCIATED WITH REAL ESTATE HELD FOR SALE			$	39,093					$	44,020
LIABILITIES
Accounts payable, accrued liabilities and other			$	13,201					$	195
Operating lease liabilities			15,827						—
Intangible liabilities, net			228						—
Security deposits and prepaid rent			1,539						127
LIABILITIES ASSOCIATED WITH REAL ESTATE HELD FOR SALE			$	30,795					$	322

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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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