Debt Obligations (Consolidated Debt Obligations Outstanding) (Details) (USD $) | 9 Months Ended | | |
Sep. 30, 2014 | Sep. 16, 2014 | Dec. 31, 2013 |
Debt Instrument [Line Items] | ' | | ' | ' |
Net unamortized premiums/(discounts) | ($8,080,000) | | ' | ' |
Total mortgage indebtedness | 658,601,000 | | ' | 670,151,000 |
Total Debt Obligations | 2,713,380,000 | | ' | 2,595,381,000 |
Line of Credit and Seven Year Term Loan [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Debt Instrument, Interest Rate Terms | 'Based on the Company's current credit rating, the spread will be 150 basis points under the Credit Facility and 190 basis points under the seven-year term loan. | | ' | ' |
Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 659,512,000 | | ' | 669,762,000 |
Net unamortized premiums/(discounts) | -911,000 | | ' | 389,000 |
Total mortgage indebtedness | 658,601,000 | | ' | 670,151,000 |
Unsecured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 2,061,948,000 | | ' | 1,929,703,000 |
Net unamortized premiums/(discounts) | -7,169,000 | | ' | -4,473,000 |
Total unsecured indebtedness | 2,054,779,000 | | ' | 1,925,230,000 |
Unsecured Debt [Member] | Three Year Term Loan [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 0 | [1] | ' | 150,000,000 |
Debt Instrument, Interest Rate, Effective Percentage | 2.60% | | ' | ' |
Debt Instrument, Maturity Date | 1-Feb-15 | | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | | 150,000,000 | ' |
Unsecured Debt [Member] | Four-Year Term Loan - Swapped to fixed [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | | 100,000,000 | ' |
Unsecured Debt [Member] | Four-Year Term Loan - Variable [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 0 | [1] | ' | 100,000,000 |
Debt Instrument, Interest Rate Terms | 'LIBOR + 1.75% | [2] | ' | ' |
Debt Instrument, Maturity Date | 1-Feb-16 | | ' | ' |
Unsecured Debt [Member] | Seven Year Term Loan [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 200,000,000 | | ' | 200,000,000 |
Debt Instrument, Face Amount | 200,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 3.62% | | ' | ' |
Debt Instrument, Maturity Date | 1-Feb-19 | | ' | ' |
Unsecured Debt [Member] | 2014 5.400% Notes | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 143,500,000 | [3] | ' | 218,549,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.40% | | ' | ' |
Debt Instrument, Face Amount | 250,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 5.53% | | ' | ' |
Debt Instrument, Maturity Date | 1-Nov-14 | | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | | 143,500,000 | ' |
Unsecured Debt [Member] | $250.0M 7.500% Guaranteed Notes due 2015 | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 114,919,000 | [3] | ' | 157,625,000 |
Debt Instrument, Interest Rate, Stated Percentage | 7.50% | | ' | ' |
Debt Instrument, Face Amount | 250,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 7.76% | | ' | ' |
Debt Instrument, Maturity Date | 15-May-15 | | ' | ' |
Debt Instrument, Repurchased Face Amount | ' | | 114,900,000 | ' |
Unsecured Debt [Member] | $250.0M 6.000% Guranteed Notes due 2016 [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 149,919,000 | | ' | 149,919,000 |
Debt Instrument, Interest Rate, Stated Percentage | 6.00% | | ' | ' |
Debt Instrument, Face Amount | 250,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 5.95% | | ' | ' |
Debt Instrument, Maturity Date | 1-Apr-16 | | ' | ' |
Unsecured Debt [Member] | $300.0M 5.700% Guaranteed Notes due 2017 | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 300,000,000 | | ' | 300,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | 5.70% | | ' | ' |
Debt Instrument, Face Amount | 300,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 5.68% | | ' | ' |
Debt Instrument, Maturity Date | 1-May-17 | | ' | ' |
Unsecured Debt [Member] | $325.0M 4.950% Guaranteed Notes due 2018 | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 325,000,000 | | ' | 325,000,000 |
Debt Instrument, Interest Rate, Stated Percentage | 4.95% | | ' | ' |
Debt Instrument, Face Amount | 325,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 5.13% | | ' | ' |
Debt Instrument, Maturity Date | 15-Apr-18 | | ' | ' |
Unsecured Debt [Member] | $250.0M 3.950% Guaranteed Notes due 2023 | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 250,000,000 | | ' | 250,000,000 |
Debt Instrument, Interest Rate, Effective Percentage | 4.02% | | ' | ' |
Debt Instrument, Maturity Date | 15-Feb-23 | | ' | ' |
Unsecured Debt [Member] | Note 2024 [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 250,000,000 | [3] | ' | 0 |
Debt Instrument, Interest Rate, Stated Percentage | 4.10% | | ' | ' |
Debt Instrument, Face Amount | 250,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 4.23% | | ' | ' |
Debt Instrument, Maturity Date | 1-Oct-24 | | ' | ' |
Unsecured Debt [Member] | Note 2029 [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 250,000,000 | [3] | ' | 0 |
Debt Instrument, Interest Rate, Stated Percentage | 4.60% | | ' | ' |
Debt Instrument, Face Amount | 250,000,000 | | ' | ' |
Debt Instrument, Interest Rate, Effective Percentage | 4.60% | | ' | ' |
Debt Instrument, Maturity Date | 1-Oct-29 | | ' | ' |
Unsecured Debt [Member] | Indenture IA (Preferred Trust I) [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 27,062,000 | | ' | 27,062,000 |
Debt Instrument, Interest Rate, Effective Percentage | 2.75% | | ' | ' |
Debt Instrument, Maturity Date | 30-Mar-35 | | ' | ' |
Unsecured Debt [Member] | Indenture IB (Preferred Trust I) [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 25,774,000 | | ' | 25,774,000 |
Debt Instrument, Interest Rate, Effective Percentage | 3.30% | | ' | ' |
Debt Instrument, Maturity Date | 30-Apr-35 | | ' | ' |
Unsecured Debt [Member] | Indenture II (Preferred Trust II) [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 25,774,000 | | ' | 25,774,000 |
Debt Instrument, Interest Rate, Effective Percentage | 3.09% | | ' | ' |
Debt Instrument, Maturity Date | 30-Jul-35 | | ' | ' |
Tysons Corner [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 89,995,000 | | ' | 91,395,000 |
Debt Instrument, Interest Rate, Effective Percentage | 5.36% | [4] | ' | ' |
Debt Instrument, Maturity Date | 1-Aug-15 | | ' | ' |
One Commerce Square [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 123,691,000 | | ' | 125,089,000 |
Debt Instrument, Interest Rate, Effective Percentage | 3.68% | [4] | ' | ' |
Debt Instrument, Maturity Date | 6-Jan-16 | | ' | ' |
Two Logan Square [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 87,982,000 | | ' | 88,583,000 |
Debt Instrument, Interest Rate, Effective Percentage | 7.57% | | ' | ' |
Debt Instrument, Maturity Date | 1-Apr-16 | | ' | ' |
Fairview Eleven Tower [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Equity Method Investment, Ownership Percentage | 50.00% | | ' | ' |
Fairview Eleven Tower [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 21,373,000 | | ' | 21,630,000 |
Debt Instrument, Interest Rate, Effective Percentage | 4.25% | [5] | ' | ' |
Debt Instrument, Maturity Date | 1-Jan-17 | | ' | ' |
Two Commerce Square [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 112,000,000 | | ' | 112,000,000 |
Debt Instrument, Interest Rate, Effective Percentage | 4.51% | [4] | ' | ' |
Debt Instrument, Maturity Date | 5-Apr-23 | | ' | ' |
IRS Philadelphia Campus [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | 186,109,000 | | ' | 190,964,000 |
Debt Instrument, Interest Rate, Effective Percentage | 7.00% | | ' | ' |
Debt Instrument, Maturity Date | 10-Sep-30 | | ' | ' |
Cira South Garage [Member] | Secured Debt [Member] | ' | | ' | ' |
Debt Instrument [Line Items] | ' | | ' | ' |
Long-term Debt, Gross | $38,362,000 | | ' | $40,101,000 |
Debt Instrument, Interest Rate, Effective Percentage | 7.12% | | ' | ' |
Debt Instrument, Maturity Date | 10-Sep-30 | | ' | ' |
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[1] | (d)On September 16, 2014, the Company repaid all balances outstanding under its $150.0 million three-year term loan and its $100.0 million four-year term loan prior to the scheduled maturity dates of February 1, 2015 and February 1, 2016, respectively. |
[2] | (c)London Interbank Offered Rate (“LIBORâ€). |
[3] | (e)On September 16, 2014, the Company closed on an underwritten offering of $250 million 4.10% Guaranteed Notes due 2024 (the "2-24 Notes") and $250.0 million 4.55% Guaranteed Notes due 2029 (the "2029 Notes"). The Company used the net proceeds, together with cash on hand, to redeem a portion of its 5.40% Guaranteed Notes due November 1, 2014 (the "2014 Notes") and its 7.50% Guaranteed Notes due May 15, 2015 (the "2015 Notes"). (See further discussion below). |
[4] | (a)These loans were assumed upon acquisition of the related properties. The interest rate reflects the market rate at the time of acquisition. |
[5] | (b)Represents the full debt amount secured by a property owned by a consolidated real estate venture in which the Company holds a 50% interest. |