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Investment in Real Estate | 6 Months Ended
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Jun. 30, 2025
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:
| June 30, 2025 |  | December 31, 2024
Land | $ | 1,225,230 |  |  | $ | 1,235,974 |
Building and improvements | 6,201,663 |  |  | 6,101,787 |
Tenant improvements | 727,451 |  |  | 728,186 |
Furniture and fixtures | 5,842 |  |  | 5,895 |
Property under development | 51,292 |  |  | 161,444 |
INVESTMENT IN REAL ESTATE, AT COST | $ | 8,211,478 |  |  | $ | 8,233,286 |
Acquisitions of Real Estate The Company had no acquisitions of real estate during the six months ended June 30, 2025. Dispositions of Real Estate The following table summarizes information on dispositions completed during the six months ended June 30, 2025. These properties were considered non-strategic to the Company’s portfolio:
Property |  | Segment |  | Date of Disposition |  | Square Feet (unaudited) |  | Sales Price(1) (in millions) |  | (Loss) Gain on Sale(2) (in millions)
Maxwell |  | Office |  | 1/22/2025 |  | 102,963 |  |  | $ | 46.0 |  |  | $ | (2.2) |
Foothill Research Center |  | Office |  | 3/4/2025 |  | 195,121 |  |  | $ | 23.0 |  |  | $ | 12.2 |
625 Second |  | Office |  | 5/30/2025 |  | 138,354 |  |  | $ | 28.0 |  |  | $ | — |
__________________ 1.Represents gross sales price before certain credits, prorations and closing costs. 2.Included within (loss) gain on sale of real estate, net on the Consolidated Statements of Operations. The Company had no dispositions of real estate during the six months ended June 30, 2024. Impairment of Long-Lived Assets During the six months ended June 30, 2025, the Company recorded an impairment charge of $18.4 million related to the real estate assets of its 625 Second office property. The impairment charge reflects a shortened expected holding period for the property and a reduction in the carrying value of the property to its estimated fair value based on the contractual sales price, which is considered a Level 2 measurement. The impairment charge is recorded within impairment loss on the Consolidated Statement of Operations. The property was classified as held for sale as of March 31, 2025 and was subsequently sold on May 30, 2025. The Company had no impairments of real estate during the six months ended June 30, 2024.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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