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Segment Information (Tables) | 6 Months Ended
--- | ---
Jun. 30, 2014
Segment Reporting [Abstract] |
Schedule of Segment Real Estate Investments, by Segment [Table Text Block] |
Real estate investments, at cost: |  |  |  |  |
|  | June 30, 2014 |  | December 31, 2013 |
Philadelphia CBD |  | $ | 1,321,740 |  |  | $ | 1,300,666 |  |
Pennsylvania Suburbs |  | 1,228,752 |  |  | 1,199,105 |  |
Metropolitan Washington, D.C. |  | 1,221,305 |  |  | 1,214,965 |  |
New Jersey/Delaware |  | 414,754 |  |  | 414,716 |  |
Richmond,Virginia |  | 310,751 |  |  | 310,397 |  |
California |  | 192,590 |  |  | 192,584 |  |
Austin, Texas (a) |  | — |  |  | 36,856 |  |
Operating properties |  | $ | 4,689,892 |  |  | $ | 4,669,289 |  |
Corporate |  |  |  |  |
Construction-in-progress |  | $ | 92,713 |  |  | $ | 74,174 |  |
Land inventory |  | $ | 90,266 |  |  | $ | 93,351 |  |
Schedule of Segment Net Operating Income, by Segment [Table Text Block] |
Net operating income: |  |  |  |  |  |  |  |  |  |  |
| Three-month periods ended
| June 30,
| 2014 |  | 2013
| Total revenue |  | Operating expenses (b) |  | Net operating income |  | Total revenue |  | Operating expenses (b) |  | Net operating income
Philadelphia CBD | $ | 51,420 |  |  | $ | (18,789 | ) |  | $ | 32,631 |  |  | $ | 36,142 |  |  | $ | (13,587 | ) |  | $ | 22,555 |
Pennsylvania Suburbs | 40,743 |  |  | (13,742 | ) |  | 27,001 |  |  | 37,002 |  |  | (13,704 | ) |  | 23,298 |
Metropolitan Washington, D.C. | 28,949 |  |  | (10,505 | ) |  | 18,444 |  |  | 28,783 |  |  | (10,773 | ) |  | 18,010 |
New Jersey/Delaware | 14,841 |  |  | (7,531 | ) |  | 7,310 |  |  | 15,024 |  |  | (6,871 | ) |  | 8,153 |
Richmond, Virginia | 8,322 |  |  | (3,566 | ) |  | 4,756 |  |  | 8,954 |  |  | (3,599 | ) |  | 5,355 |
California | 4,895 |  |  | (2,515 | ) |  | 2,380 |  |  | 4,536 |  |  | (2,338 | ) |  | 2,198 |
Austin, Texas (a) | 976 |  |  | (617 | ) |  | 359 |  |  | 9,872 |  |  | (4,207 | ) |  | 5,665 |
Corporate | 354 |  |  | (442 | ) |  | (88 | ) |  | 331 |  |  | 106 |  |  | 437 |
Operating Properties | $ | 150,500 |  |  | $ | (57,707 | ) |  | $ | 92,793 |  |  | $ | 140,644 |  |  | $ | (54,973 | ) |  | $ | 85,671 |
| Six-month periods ended
| June 30,
| 2014 |  | 2013
| Total revenue |  | Operating expenses (b) |  | Net operating income |  | Total revenue |  | Operating expenses (b) |  | Net operating income
Philadelphia CBD | $ | 100,834 |  |  | $ | (37,231 | ) |  | $ | 63,603 |  |  | $ | 72,067 |  |  | $ | (27,121 | ) |  | $ | 44,946 |
Pennsylvania Suburbs | 81,317 |  |  | (28,431 | ) |  | 52,886 |  |  | 74,918 |  |  | (28,310 | ) |  | 46,608 |
Metropolitan Washington, D.C. | 59,639 |  |  | (22,462 | ) |  | 37,177 |  |  | 56,568 |  |  | (21,536 | ) |  | 35,032 |
New Jersey/Delaware | 30,466 |  |  | (16,223 | ) |  | 14,243 |  |  | 29,944 |  |  | (13,902 | ) |  | 16,042 |
Richmond, Virginia | 17,189 |  |  | (7,906 | ) |  | 9,283 |  |  | 17,719 |  |  | (7,282 | ) |  | 10,437 |
California | 9,497 |  |  | (4,923 | ) |  | 4,574 |  |  | 9,141 |  |  | (4,498 | ) |  | 4,643 |
Austin, Texas (a) | 3,057 |  |  | (1,793 | ) |  | 1,264 |  |  | 19,129 |  |  | (8,165 | ) |  | 10,964 |
Corporate | 615 |  |  | (712 | ) |  | (97 | ) |  | 712 |  |  | 772 |  |  | 1,484 |
Operating Properties | $ | 302,614 |  |  | $ | (119,681 | ) |  | $ | 182,933 |  |  | $ | 280,198 |  |  | $ | (110,042 | ) |  | $ | 170,156 |
(a) | On On April 3, 2014, the Company contributed Four Points Centre to an unconsolidated real estate venture. See Note 3 for further information on the contribution. On October 16, 2013, seven properties in the Austin portfolio where contributed to an unconsolidated real estate venture. Following the contribution of these properties, there are no wholly owned properties in the Austin, Texas segment.
(b) | Includes property operating expense, real estate taxes and third party management expense.
Schedule of Segment Reporting Information, by Segment [Table Text Block] |
Unconsolidated real estate ventures: |  |  |  |  |  |  |  |  |  |
| Investment in real estate ventures, at equity |  | Equity in income (loss) of real estate ventures
| As of |  | Three-month periods ended June 30, |  | Six-month periods ended June 30,
| June 30, 2014 |  | December 31, 2013 |  | 2014 |  | 2013 |  | 2014 |  | 2013
Philadelphia CBD | $ | 20,689 |  |  | $ | 19,975 |  |  | $ | — |  |  | $ | 577 |  |  | $ | (21 | ) |  | $ | 1,143 |
Pennsylvania Suburbs | 17,544 |  |  | 17,272 |  |  | (391 | ) |  | 558 |  |  | (359 | ) |  | 588 |
Metropolitan Washington, D.C. | 61,604 |  |  | 59,905 |  |  | (42 | ) |  | (35 | ) |  | 25 |  |  | (19 | )
New Jersey/Delaware | — |  |  | — |  |  | 103 |  |  | 167 |  |  | 122 |  |  | 1,075 |
Richmond, Virginia | 1,295 |  |  | 1,400 |  |  | 115 |  |  | 243 |  |  | 69 |  |  | 236 |
Austin, Texas (a) | 84,910 |  |  | 81,960 |  |  | (274 | ) |  | (2 | ) |  | (83 | ) |  | 20 |
Total | $ | 186,042 |  |  | $ | 180,512 |  |  | $ | (489 | ) |  | $ | 1,508 |  |  | $ | (247 | ) |  | $ | 3,043 |
Reconciliation Of Consolidated Net Operating Income [Table Text Block] |
(a) | Investment in real estate ventures does not include the negative investment balance of one real estate venture totaling $1.2 million as of June 30, 2014, which is included in other liabilities.
Net operating income (“NOI”) is an non-GAAP measure that is defined as total revenue less property operating expenses, real estate taxes and third party management expenses. Segment NOI includes revenue, real estate taxes and property operating expenses directly related to operation and management of the properties owned and managed within the respective geographical region. Segment NOI excludes property level depreciation and amortization, revenue and expenses directly associated with third party real estate management services, expenses associated with corporate administrative support services, and inter-company eliminations. NOI also does not reflect general and administrative expenses, interest expenses, real estate impairment losses, depreciation and amortization costs, capital expenditures and leasing costs. Trends in development and construction activities that could materially impact the Company’s results from operations are also not reflected in NOI. All companies may not calculate NOI in the same manner. NOI is the measure that is used by the Company to evaluate the operating performance of its real estate assets by segment. The Company also believes that NOI provides useful information to investors regarding its financial condition and results of operations because it reflects only those income and expenses recorded at the property level. The Company believes that net income, as defined by GAAP, is the most appropriate earnings measure. The following is a reconciliation of consolidated NOI to consolidated net income (loss), as defined by GAAP:
| Three-month periods ended June 30, |  | Six-month periods ended June 30,
| 2014 |  | 2013 |  | 2014 |  | 2013
| (amounts in thousands) |  | (amounts in thousands)
Consolidated net operating income | $ | 92,793 |  |  | $ | 85,671 |  |  | $ | 182,933 |  |  | $ | 170,156 |
Other income (expense): |  |  |  |  |  |  |
Depreciation and amortization | (52,587 | ) |  | (49,241 | ) |  | (105,157 | ) |  | (98,717 | )
General and administrative expenses | (6,005 | ) |  | (7,336 | ) |  | (14,186 | ) |  | (13,887 | )
Interest income | 385 |  |  | 122 |  |  | 770 |  |  | 180 |
Interest expense | (31,512 | ) |  | (30,437 | ) |  | (63,356 | ) |  | (61,351 | )
Amortization of deferred financing costs | (1,197 | ) |  | (1,183 | ) |  | (2,386 | ) |  | (2,344 | )
Interest expense - financing obligation | (316 | ) |  | (211 | ) |  | (588 | ) |  | (429 | )
Equity in income (loss) of real estate ventures | (489 | ) |  | 1,508 |  |  | (247 | ) |  | 3,043 |
Gain (Loss) on sale of undepreciated real estate | (3 | ) |  | — |  |  | 1,184 |  |  | — |
Gain from remeasurement of investment in a real estate venture | 458 |  |  | 7,847 |  |  | 458 |  |  | 7,847 |
Gain (Loss) on real estate venture transactions | (282 | ) |  | 3,683 |  |  | (417 | ) |  | 3,683 |
Loss on early extinguishment of debt | — |  |  | (1,113 | ) |  | — |  |  | (1,116 | )
Loss from continuing operations | 1,245 |  |  | 9,310 |  |  | (992 | ) |  | 7,065 |
Income (loss) from discontinued operations | 929 |  |  | (2,130 | ) |  | 921 |  |  | 4,034 |
Net income (loss) | $ | 2,174 |  |  | $ | 7,180 |  |  | $ | (71 | ) |  | $ | 11,099 |

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