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Debt Obligations (Tables) | 12 Months Ended
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Dec. 31, 2011
Debt Disclosure [Abstract] |
Consolidated debt obligations |
Property / Location |  | December 31, 2011 |  | December 31, 2010 |  | Effective Interest Rate |  |  | Maturity Date
MORTGAGE DEBT: |  |  |  |  |  |  |  |  |
Arboretum I, II, III & V |  | $ | — |  |  | $ | 20,386 |  |  | 7.59 | % | (a) |  | Jul-11
Midlantic Drive/Lenox Drive/DCC I |  | — |  |  | 56,514 |  |  | 8.05 | % | (b) |  | Oct-11
Research Office Center |  | — |  |  | 39,145 |  |  | 5.30 | % | (c), (d) |  | Oct-11
Concord Airport Plaza |  | — |  |  | 34,494 |  |  | 5.55 | % | (d), (e) |  | Jan-12
Newtown Square/Berwyn Park/Libertyview |  | 56,538 |  |  | 58,102 |  |  | 7.25 | % |  |  | May-13
Southpoint III |  | 1,887 |  |  | 2,597 |  |  | 7.75 | % |  |  | Apr-14
Tysons Corner |  | 94,882 |  |  | 96,507 |  |  | 5.36 | % | (d) |  | Aug-15
Two Logan Square |  | 89,800 |  |  | 89,800 |  |  | 7.57 | % |  |  | Apr-16
One Logan Square |  | — |  |  | 60,000 |  |  | 4.50 | % | (f) |  | Jul-16
Fairview Eleven Tower |  | 22,000 |  |  | — |  |  | 4.25 | % |  |  | Jan-17
IRS Philadelphia Campus |  | 202,905 |  |  | 208,366 |  |  | 7.00 | % |  |  | Sep-30
Cira South Garage |  | 44,379 |  |  | 46,335 |  |  | 7.12 | % |  |  | Sep-30
Principal balance outstanding |  | 512,391 |  |  | 712,246 |  |  |  |  |  |
Plus: unamortized fixed-rate debt premiums (discounts), net |  | (1,330 | ) |  | (457 | ) |  |  |  |  |
Total mortgage indebtedness |  | $ | 511,061 |  |  | $ | 711,789 |  |  |  |  |  |
UNSECURED DEBT: |  |  |  |  |  |  |  |  |
$345.0M 3.875% Guaranteed Exchangeable Notes due 2026 |  | — |  |  | 59,835 |  |  | 5.50 | % | (g) |  | Oct-11
Bank Term Loan |  | 37,500 |  |  | 183,000 |  |  | LIBOR+0.80% |  | (h) |  | Jun-12
Credit Facility |  | 275,500 |  |  | 183,000 |  |  | LIBOR+0.725% |  | (h) |  | Jun-12
$300.0M 5.750% Guaranteed Notes due 2012 |  | 151,491 |  |  | 175,200 |  |  | 5.73 | % |  |  | Apr-12
$250.0M 5.400% Guaranteed Notes due 2014 |  | 242,681 |  |  | 242,681 |  |  | 5.53 | % |  |  | Nov-14
$250.0M 7.500% Guaranteed Notes due 2015 |  | 227,329 |  |  | 250,000 |  |  | 7.77 | % |  |  | May-15
$250.0M 6.000% Guaranteed Notes due 2016 |  | 250,000 |  |  | 250,000 |  |  | 5.95 | % |  |  | Apr-16
$300.0M 5.700% Guaranteed Notes due 2017 |  | 300,000 |  |  | 300,000 |  |  | 5.68 | % |  |  | May-17
$325.0M 4.950% Guaranteed Notes due 2018 |  | 325,000 |  |  | — |  |  | 5.14 | % |  |  | Apr-18
Indenture IA (Preferred Trust I) |  | 27,062 |  |  | 27,062 |  |  | 2.75 | % |  |  | Mar-35
Indenture IB (Preferred Trust I) |  | 25,774 |  |  | 25,774 |  |  | 3.30 | % |  |  | Apr-35
Indenture II (Preferred Trust II) |  | 25,774 |  |  | 25,774 |  |  | LIBOR+1.25% |  |  |  | Jul-35
Principal balance outstanding |  | 1,888,111 |  |  | 1,722,326 |  |  |  |  |  |
Less: unamortized exchangeable debt discount |  | — |  |  | (906 | ) |  |  |  |  |
unamortized fixed-rate debt discounts, net |  | (5,177 | ) |  | (2,763 | ) |  |  |  |  |
Total unsecured indebtedness |  | $ | 1,882,934 |  |  | $ | 1,718,657 |  |  |  |  |  |
Total Debt Obligations |  | $ | 2,393,995 |  |  | $ | 2,430,446 |  |  |  |  |  |
(a) | On April 1, 2011, the Company prepaid the remaining balance of the loan without penalty.
(b) | On June 3, 2011, the Company prepaid the remaining balance of the loan without penalty.
(c) | On June 30, 2011, the Company prepaid the remaining balance of the loan without penalty. The unamortized fixed-rate debt premium of $0.3 million related to this loan was included as part of the gain (loss) on early extinguishment of debt in the Company's consolidated statement of operations during the current year.
(d) | These loans were assumed upon acquisition of the related properties. The interest rates reflect the market rate at the time of acquisition.
(e) | On September 1, 2011, the Company prepaid the remaining balance of the loan without penalty. The unamortized fixed-rate debt premium of $0.2 million related to this loan was included as part of the gain (loss) on early extinguishment of debt in the Company's consolidated statement of operations during the year.
(f) | This mortgage was subject to an interest rate floor of 4.50% on a monthly basis. On July 11, 2011, the Company prepaid the balance of the loan without penalty.
(g) | On October 20, 2011, holders representing $59.5 million of the outstanding Exchangeable Notes exercised their right to cause the Company to redeem their notes at par plus accrued and unpaid interest leaving an outstanding balance of $0.4 million. On December 8, 2011, the Company redeemed the remaining balance of the Exchangeable Notes pursuant to its right under the indenture agreement (see related discussion below).
(h) | On March 31, 2011, the maturity dates of the Bank Term Loan and the Credit Facility were extended to June 29, 2012 from June 29, 2011. On June 29, 2011, the Company paid a total extension fee amounting to $1.2 million which is equal to 15 basis points of the outstanding principal balance of the Bank Term Loan and of the committed amount under the Credit Facility. The extension of the maturity dates was at the Company's option under the Bank Term Loan and the Credit Facility agreements. There were no changes in the terms and conditions of the loan agreements as a result of the maturity date extensions. On December 15, 2011, the Company entered into binding agreements for lender commitments related a new $600.0 million four -year unsecured credit facility (the "New Credit Facility") and three unsecured term loans in the same aggregate amount of $600.0 million (collectively, the “New Term Loans”), consisting of a $150.0 million three-year loan, a $250.0 million four-year loan and a $200.0 million seven-year loan. Please see below for a related discussion regarding the New Credit Facility and Term Loans.
Summary of debt repurchases |
Notes | Repurchase Amount |  | Principal |  | Loss |  | Deferred Financing Amortization
2011 3.875% Notes | $ | 59,835 |  |  | $ | 59,835 |  |  | $ | — |  |  | $ | — |
2012 5.750% Notes | 24,749 |  |  | 23,709 |  |  | 868 |  |  | 32 |
2015 7.500% Notes | 25,140 |  |  | 22,671 |  |  | 2,396 |  |  | 120 |
| $ | 109,724 |  |  | $ | 106,215 |  |  | $ | 3,264 |  |  | $ | 152 |
Schedule of principal payments of debt obligations |
2012 | $ | 476,889 |
2013 | 66,806 |
2014 | 254,787 |
2015 | 327,225 |
2016 | 347,065 |
Thereafter | 927,730 |
Total principal payments | 2,400,502 |
Net unamortized premiums/(discounts) | (6,507 | )
Outstanding indebtedness | $ | 2,393,995 |

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