XML 86 R73.htm IDEA: XBRL DOCUMENT v3.25.2
Debt - Schedule of Long-term Debt Instruments (Details)
6 Months Ended
Jun. 30, 2025
USD ($)
property
option
Dec. 31, 2024
USD ($)
Debt    
Duration used in interest rate calculation (in days) 360 days  
Number of office properties | property 6  
Hollywood Media Portfolio CMBS, net | Interest Rate Cap | Designated as hedging Instrument    
Debt    
Notional amount $ 539,000,000  
Hollywood Media Portfolio CMBS, net | Interest Rate Cap | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 6.01%  
Hollywood Media Portfolio CMBS, net | Interest Rate Swap | Designated as hedging Instrument    
Debt    
Notional amount $ 351,200,000  
Hollywood Media Portfolio CMBS, net | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Interest rate (as a percent) 3.31%  
Hollywood Media Portfolio CMBS, net | Interest Rate Swap | Designated as hedging Instrument    
Debt    
Notional amount $ 179,600,000  
Hollywood Media Portfolio CMBS, net | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Interest rate (as a percent) 4.13%  
Hollywood Media Portfolio CMBS, net | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 6.01%  
Hollywood Media Portfolio CMBS, net | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Notional amount $ 539,000,000  
1918 Eighth | Interest Rate Swap | Designated as hedging Instrument    
Debt    
Notional amount $ 172,900,000  
1918 Eighth | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Interest rate (as a percent) 3.75%  
1918 Eighth | Interest Rate Caps | Designated as hedging Instrument    
Debt    
Notional amount $ 141,400,000  
1918 Eighth | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 5.00%  
1918 Eighth | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Notional amount $ 141,435,000  
Sunset Glenoaks Studios | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 4.50%  
Office Portfolio CMBS | Interest Rate Swap | Designated as hedging Instrument    
Debt    
Notional amount $ 222,500,000  
Office Portfolio CMBS | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 3.41%  
Office Portfolio CMBS | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging    
Debt    
Interest rate (as a percent) 3.35%  
Office Portfolio CMBS | Interest Rate Swap | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 3.41%  
Office Portfolio CMBS | Interest Rate Caps | Designated as hedging Instrument    
Debt    
Notional amount $ 250,000,000  
Office Portfolio CMBS | Interest Rate Caps | Designated as hedging Instrument | Cash Flow Hedging, Partial    
Debt    
Interest rate (as a percent) 4.96%  
Unsecured debt    
Debt    
TOTAL $ 1,650,000,000 $ 2,435,000,000
Joint venture partner debt 1,650,000,000 2,435,000,000
Unsecured debt | Series B notes    
Debt    
TOTAL 0 259,000,000
Joint venture partner debt $ 0 259,000,000
Interest rate (as a percent) 4.69%  
Unsecured debt | Series C notes    
Debt    
TOTAL $ 0 56,000,000
Joint venture partner debt $ 0 56,000,000
Interest rate (as a percent) 4.79%  
Unsecured debt | Series D notes    
Debt    
TOTAL $ 0 150,000,000
Joint venture partner debt $ 0 150,000,000
Interest rate (as a percent) 3.98%  
Unsecured debt | 3.95% Registered senior notes    
Debt    
TOTAL $ 400,000,000 400,000,000
Joint venture partner debt $ 400,000,000 400,000,000
Interest rate (as a percent) 3.95%  
Unsecured debt | 4.65% Registered senior notes    
Debt    
TOTAL $ 500,000,000 500,000,000
Joint venture partner debt $ 500,000,000 500,000,000
Interest rate (as a percent) 4.65%  
Unsecured debt | 3.25% Registered senior notes    
Debt    
TOTAL $ 400,000,000 400,000,000
Joint venture partner debt $ 400,000,000 400,000,000
Interest rate (as a percent) 3.25%  
Unsecured debt | 5.95% Registered senior notes    
Debt    
TOTAL $ 350,000,000 350,000,000
Joint venture partner debt $ 350,000,000 350,000,000
Interest rate (as a percent) 5.95%  
Secured debt    
Debt    
TOTAL $ 2,059,000,000 1,752,667,000
Joint venture partner debt 2,059,000,000 1,752,667,000
Secured debt | Hollywood Media Portfolio CMBS, net    
Debt    
TOTAL 1,069,767,000 1,069,767,000
Joint venture partner debt $ 1,069,767,000 1,069,767,000
Extension term 1 year  
Number of extension options | option 3  
Payments to acquire bonds $ 30,200,000  
Secured debt | Hollywood Media Portfolio CMBS(7)    
Debt    
Hollywood Media Portfolio CMBS(7) $ 1,100,000,000 1,100,000,000
Basis spread on variable rate (as a percent) 1.10%  
Number of properties | property 8  
Secured debt | Acquired Hollywood Media Portfolio CMBS debt    
Debt    
Acquired Hollywood Media Portfolio CMBS debt $ (30,233,000) (30,233,000)
Basis spread on variable rate (as a percent) 2.11%  
Secured debt | Element LA    
Debt    
TOTAL $ 0 168,000,000
Joint venture partner debt $ 0 168,000,000
Interest rate (as a percent) 4.59%  
Secured debt | 1918 Eighth    
Debt    
TOTAL $ 314,300,000 314,300,000
Joint venture partner debt $ 314,300,000 314,300,000
Basis spread on variable rate (as a percent) 1.40%  
Secured debt | Hill7    
Debt    
TOTAL $ 101,000,000 101,000,000
Joint venture partner debt $ 101,000,000 101,000,000
Interest rate (as a percent) 3.38%  
Secured debt | Sunset Glenoaks Studios    
Debt    
TOTAL $ 100,600,000 99,600,000
Joint venture partner debt $ 100,600,000 99,600,000
Basis spread on variable rate (as a percent) 3.10%  
Extension term 1 year  
Number of extension options | option 2  
Debt instrument, maximum capacity $ 100,600,000  
Secured debt | Office Portfolio CMBS    
Debt    
TOTAL 473,333,000 0
Joint venture partner debt $ 473,333,000 0
Basis spread on variable rate (as a percent) 3.76%  
Extension term 1 year  
Number of extension options | option 3  
Debt instrument, maximum capacity $ 475,000,000.0  
Secured debt | Minimum | Sunset Glenoaks Studios    
Debt    
Basis spread on variable rate (as a percent) 2.50%  
Secured debt | Maximum | Sunset Glenoaks Studios    
Debt    
Basis spread on variable rate (as a percent) 3.10%  
Unsecured and secured debt    
Debt    
TOTAL $ 3,709,000,000 4,187,667,000
Unamortized deferred financing costs/loan discounts (18,571,000) (10,823,000)
TOTAL UNSECURED AND SECURED DEBT, NET 3,690,429,000 4,176,844,000
Joint venture partner debt 3,709,000,000 4,187,667,000
Joint venture partner debt    
Debt    
TOTAL 66,136,000 66,136,000
TOTAL UNSECURED AND SECURED DEBT, NET 66,136,000 66,136,000
Joint venture partner debt $ 66,136,000 66,136,000
Interest rate (as a percent) 4.50%  
Extension term 2 years  
Number of extension options | option 2  
Revolving credit facility | Unsecured debt    
Debt    
TOTAL $ 0 320,000,000
Joint venture partner debt $ 0 320,000,000
Basis spread on variable rate (as a percent) 1.33%  
Maximum borrowing capacity $ 775,000,000.0 $ 900,000,000
Maximum borrowing capacity including accordion feature $ 2,000,000,000  
Extension term 6 months  
Number of extension options | option 2  
Revolving credit facility | Unsecured debt | CAD    
Debt    
Maximum borrowing capacity $ 193,800,000  
Revolving credit facility | Unsecured debt | GBP    
Debt    
Maximum borrowing capacity $ 193,800,000  
Revolving credit facility | Unsecured debt | Minimum    
Debt    
Basis spread on variable rate (as a percent) 1.15%  
Commitment fee (as a percent) 0.15%  
Revolving credit facility | Unsecured debt | Maximum    
Debt    
Basis spread on variable rate (as a percent) 1.60%  
Commitment fee (as a percent) 0.30%