Douglas Emmett (DEI) 10-Q 3 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2018	Jul. 27, 2018
Document And Entity Information [Abstract]
Entity Registrant Name	Douglas Emmett Inc
Entity Central Index Key	1,364,250
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		169,917,966

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Investment in real estate:
Land	$ 1,064,189	$ 1,062,345
Buildings and improvements	7,945,119	7,886,201
Tenant improvements and lease intangibles	802,868	756,190
Property under development	111,760	124,472
Investment in real estate, gross	9,923,936	9,829,208
Less: accumulated depreciation and amortization	(2,136,480)	(2,012,752)
Investment in real estate, net	7,787,456	7,816,456
Cash and cash equivalents	170,391	176,645
Tenant receivables, net	3,261	2,980
Deferred rent receivables, net	115,211	106,021
Acquired lease intangible assets, net	3,741	4,293
Interest rate contract assets	116,090	60,069
Investment in unconsolidated real estate funds	109,835	107,735
Other assets	11,999	18,442
Total Assets	8,317,984	8,292,641
Liabilities
Secured notes payable and revolving credit facility, net	4,106,495	4,117,390
Interest payable, accounts payable and deferred revenue	125,419	103,947
Security deposits	50,509	50,414
Acquired lease intangible liabilities, net	62,789	75,635
Interest rate contract liabilities	0	807
Dividends payable	42,486	42,399
Total liabilities	4,387,698	4,390,592
Douglas Emmett, Inc. stockholders' equity:
Common Stock, $0.01 par value, 750,000,000 authorized, 169,917,966 and 169,564,927 outstanding at June 30, 2018 and December 31, 2017, respectively	1,699	1,696
Additional paid-in capital	3,277,643	3,272,539
Accumulated other comprehensive income	87,486	43,099
Accumulated deficit	(905,085)	(879,810)
Total Douglas Emmett, Inc. stockholders' equity	2,461,743	2,437,524
Noncontrolling interests	1,468,543	1,464,525
Total equity	3,930,286	3,902,049
Total Liabilities and Equity	$ 8,317,984	$ 8,292,641

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
Statement of Financial Position [Abstract]
Common Stock, par value (usd per share)	$ 0.01	$ 0.01
Common Stock, authorized (in shares)	750,000,000	750,000,000
Common Stock, outstanding (in shares)	169,917,966	169,564,927

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues
Total revenues	$ 219,469	$ 199,632	$ 431,716	$ 394,113
Operating Expenses
General and administrative	9,437	8,592	19,004	18,748
Depreciation and amortization	73,379	68,793	145,877	136,167
Total operating expenses	151,542	141,150	300,661	279,512
Operating income	67,927	58,482	131,055	114,601
Other income	2,792	2,331	5,422	4,493
Other expenses	(2,086)	(1,773)	(3,819)	(3,497)
Income, including depreciation, from unconsolidated real estate funds	1,668	1,113	3,174	3,290
Interest expense	(33,268)	(38,000)	(66,168)	(74,954)
Net income	37,033	22,153	69,664	43,933
Less: Net income attributable to noncontrolling interests	(5,349)	(1,909)	(9,774)	(4,640)
Net income attributable to common stockholders	$ 31,684	$ 20,244	$ 59,890	$ 39,293
Net income attributable to common stockholders per share – basic (usd per share)	$ 0.19	$ 0.13	$ 0.35	$ 0.25
Net income attributable to common stockholders per share – diluted (usd per share)	0.19	0.13	0.35	0.25
Dividends declared per common share (usd per share)	$ 0.25	$ 0.23	$ 0.50	$ 0.46
Office rental
Revenues
Rental revenues	$ 150,161	$ 135,665	$ 297,932	$ 268,681
Tenant recoveries	14,654	12,801	25,707	23,851
Parking and other income	28,946	27,076	57,455	53,358
Total revenues	193,761	175,542	381,094	345,890
Operating Expenses
Expenses	61,818	57,887	122,174	112,772
Multifamily rental
Revenues
Rental revenues	23,655	22,237	46,716	44,478
Parking and other income	2,053	1,853	3,906	3,745
Total revenues	25,708	24,090	50,622	48,223
Operating Expenses
Expenses	$ 6,908	$ 5,878	$ 13,606	$ 11,825

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Statement of Comprehensive Income [Abstract]
Net income	$ 37,033	$ 22,153	$ 69,664	$ 43,933
Other comprehensive income (loss): cash flow hedges	18,994	(4,193)	63,363	5,636
Comprehensive income	56,027	17,960	133,027	49,569
Less: Comprehensive (income) loss attributable to noncontrolling interests	(10,878)	297	(28,750)	(4,561)
Comprehensive income attributable to common stockholders	$ 45,149	$ 18,257	$ 104,277	$ 45,008

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Operating Activities
Net income	$ 69,664	$ 43,933
Adjustments to reconcile net income to net cash provided by operating activities:
Income, including depreciation, from unconsolidated real estate funds	(3,174)	(3,290)
Depreciation and amortization	145,877	136,167
Net accretion of acquired lease intangibles	(12,295)	(8,476)
Straight-line rent	(9,191)	(6,030)
Increase in the allowance for doubtful accounts	1,335	504
Deferred loan costs amortized and written off	4,279	4,522
Amortization of loan premium	(102)	0
Non-cash market value adjustments on interest rate contracts	0	25
Amortization of stock-based compensation	5,964	5,311
Operating distributions from unconsolidated real estate funds	3,174	3,290
Change in working capital components:
Tenant receivables	(1,616)	(868)
Interest payable, accounts payable and deferred revenue	4,974	16,718
Security deposits	95	2,392
Other assets	6,896	4,404
Net cash provided by operating activities	215,880	198,602
Investing Activities
Capital expenditures for improvements to real estate	(73,127)	(51,370)
Capital expenditures for developments	(26,474)	(23,646)
Property acquisitions	0	(354,023)
Deposits for property acquisitions	0	(10,000)
Acquisitions of additional interests in unconsolidated real estate funds	0	(2,571)
Capital distributions from unconsolidated real estate funds	3,774	39,962
Net cash used in investing activities	(95,827)	(401,648)
Financing Activities
Proceeds from borrowings	535,000	933,000
Repayment of borrowings	(546,979)	(986,069)
Loan cost payments	(2,924)	(6,889)
Contributions from noncontrolling interests in consolidated JVs	0	188,248
Distributions paid to noncontrolling interests	(26,114)	(19,202)
Dividends paid to common stockholders	(84,868)	(70,075)
Taxes paid on exercise of stock options	(314)	(52,704)
Repurchase of OP Units	(108)	0
Proceeds from issuance of common stock, net	0	276,961
Net cash (used in) provided by financing activities	(126,307)	263,270
(Decrease) increase in cash and cash equivalents and restricted cash	(6,254)	60,224
Cash and cash equivalents and restricted cash - beginning balance	176,766	113,048
Cash and cash equivalents and restricted cash - ending balance	170,512	173,272
Operating Activities
Cash paid for interest, net of capitalized interest	61,228	69,001
Capitalized interest paid	1,558	1,150
Non-cash Investing Transactions
Accrual for additions to real estate and developments	16,329	417
Capitalized stock-based compensation for improvements to real estate and developments	948	475
Removal of fully depreciated and amortized tenant improvements and lease intangibles	22,157	22,077
Removal of fully amortized acquired lease intangible assets	1,180	71
Removal of fully accreted acquired lease intangible liabilities	8,899	2,935
Non-cash Financing Transactions
Gain recorded in AOCI - Adoption of ASU 2017-12 - consolidated derivatives	211	0
Gain (loss) recorded in AOCI - derivatives	58,890	(4,016)
Dividends declared	84,955	72,194
Common stock issued in exchange for OP Units	5,481	8,856
Unconsolidated Funds
Non-cash Financing Transactions
Gain (loss) recorded in AOCI - derivatives	$ 6,404	$ 867

Overview

Overview	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Overview	Overview Organization and Business Description Douglas Emmett, Inc. is a fully integrated, self-administered and self-managed REIT. We are one of the largest owners and operators of high-quality office and multifamily properties in Los Angeles County, California and Honolulu, Hawaii. Through our interest in our Operating Partnership and its subsidiaries, consolidated JVs and unconsolidated Funds, we focus on owning, acquiring, developing and managing a significant market share of top-tier office properties and premier multifamily communities in neighborhoods that possess significant supply constraints, high-end executive housing and key lifestyle amenities. The terms "us," "we" and "our" as used in the financial statements refer to Douglas Emmett, Inc. and its subsidiaries on a consolidated basis. At June 30, 2018 , our Consolidated Portfolio consisted of (i) a 16.6 million square foot office portfolio, (ii) 3,522 multifamily apartment units and (iii) fee interests in two parcels of land from which we receive rent under ground leases. We also manage and own equity interests in unconsolidated Funds which, at June 30, 2018 , owned an additional 1.8 million square feet of office space. We manage our unconsolidated Funds alongside our Consolidated Portfolio, and we therefore present the statistics for our office portfolio on a Total Portfolio basis. As of June 30, 2018 , our portfolio (not including two parcels of land from which we receive rent under ground leases), consisted of the following office and multifamily properties (both of which include ancillary retail space): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 53 53 Consolidated JV properties 10 10 Unconsolidated Fund properties — 8 63 71 Multifamily Wholly-owned properties 10 10 Total 73 81 Basis of Presentation The accompanying financial statements are the consolidated financial statements of Douglas Emmett, Inc. and its subsidiaries, including our Operating Partnership and our consolidated JVs. All significant intercompany balances and transactions have been eliminated in our consolidated financial statements. Our Operating Partnership and consolidated JVs are VIEs of which we are the primary beneficiary. As of June 30, 2018 , the total consolidated assets, liabilities and equity of the VIEs was $8.32 billion (of which $7.79 billion related to investment in real estate), $4.39 billion and $3.93 billion (of which $1.47 billion related to noncontrolling interests), respectively. The accompanying unaudited interim financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP may have been condensed or omitted pursuant to SEC rules and regulations, although we believe that the disclosures are adequate to make their presentation not misleading. The accompanying unaudited interim financial statements include, in our opinion, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial information set forth therein. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The interim financial statements should be read in conjunction with the consolidated financial statements in our 2017 Annual Report on Form 10-K and the notes thereto. References in this Report to the number of properties, square footage, per square footage amounts, apartment units and geography, are outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the PCAOB.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies We adopted ASUs during the six months ended June 30, 2018 that changed our accounting policies for revenue recognition and hedge accounting disclosed in our 2017 Annual Report on Form 10-K - see "New Accounting Pronouncements" below. The adoption of these ASUs did not have a material impact on our financial statements. We have not made any other changes to our significant accounting policies disclosed in our 2017 Annual Report on Form 10-K. Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates. Income Taxes We have elected to be taxed as a REIT under the Code. Provided that we qualify for taxation as a REIT, we are generally not subject to corporate-level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. We are subject to corporate-level tax on the earnings that we derive through our TRS. New Accounting Pronouncements Changes to GAAP are implemented by the FASB in the form of ASUs. We consider the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not issued any other ASUs during 2018 that we expect to be applicable and have a material impact on our financial statements. Adopted ASUs During the six months ended June 30, 2018 we adopted the ASUs listed below: Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (Topic 606), which provides guidance for the accounting of revenue from contracts with customers, and supersedes Topic 605, "Revenue Recognition", and most industry-specific guidance throughout the industry topics of the Codification. In March 2016, the FASB issued ASU No. 2016-08, "Principal versus Agent Considerations (Reporting Revenue Gross versus Net)", which amends Topic 606 and clarifies the guidance for principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, "Identifying Performance Obligations and Licensing" which amends Topic 606 and provides guidance for identifying performance obligations and licensing. In May 2016, the FASB issued ASU No. 2016-12, "Narrow-Scope Improvements and Practical Expedients" which amends Topic 606 and provides guidance for a variety of revenue recognition related topics. In February 2017, the FASB issued ASU No. 2017-05 "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets" (Subtopic 610-20), which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with non-customers. Sales of real estate are now accounted for under Subtopic 610-20 which focuses on a transfer of control. The amendments in these ASUs were effective in the first quarter of 2018 and were required to be applied on a retrospective basis. Most of our revenues are derived from lease contracts with tenants and are not within the scope of the respective ASUs. Although our office parking revenues are within the scope of the respective ASUs, the timing and pattern of revenue recognition was not impacted. However, the scoping of our revenues could be impacted by ASU No. 2016-02, "Leases" (Topic 842), which we plan to adopt in the first quarter of 2019 - see "Recently Issued Accounting Pronouncements" further below. Our office parking revenues are mostly derived from lease contracts with our office tenants. The lease contracts generally make a specified number of parking spaces available to the tenant, and we bill and recognize parking revenues on a monthly basis in accordance with the lease agreements generally using the monthly parking rates in effect at the time of billing. Office parking revenues were $25.7 million and $24.0 million for the three months ended June 30, 2018 and 2017 , and $50.8 million and $47.2 million for the six months ended June 30, 2018 and 2017 , respectively, and are included in Office parking and other income in our consolidated statements of operations. Office parking receivables were $1.0 million as of June 30, 2018 and December 31, 2017 . Office parking receivables are included in Tenant receivables in our consolidated balance sheets. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities". The ASU requires the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness be recorded in other comprehensive income. GAAP historically provided special hedge accounting only for the portion of the hedge deemed to be “highly effective” and requires an entity to separately reflect the amount by which the hedging instrument does not offset the hedged item, which is referred to as the “ineffective” amount. The amendments are effective in the first quarter of 2019 and are required to be applied on a prospective basis. We early adopted the ASU and it did not have a material impact on our financial statements. The ASU requires the cumulative effect of initially applying the ASU as an adjustment to AOCI with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year in which the ASU is adopted. On January 1, 2018, we recorded such an adjustment to AOCI and accumulated deficit of $211 thousand . See Note 10 . ASUs Not Yet Adopted Leases In February 2016, the FASB issued ASU No. 2016-02, "Leases" (Topic 842). The primary difference between Topic 842 and current GAAP is the recognition of lease assets and liabilities on the balance sheet by lessees for leases classified as operating leases under current GAAP. The accounting applied by lessors is largely unchanged from current GAAP, for example, the vast majority of operating leases will remain classified as operating leases, and lessors will continue to recognize lease income for those leases on a straight-line basis over the lease term. Topic 842 requires separation of the lease from the non-lease components (for example, maintenance services or other activities that transfer a good or service to the customer) in a contract. Only the lease components should be accounted for in accordance with Topic 842. The consideration in the contract is allocated to the lease and non-lease components on a relative standalone selling price basis and the non-lease component would be accounted for in accordance with ASC 606 ("Revenue from Contracts with Customers"). In July 2018, the FASB issued ASU No. 2018-11 which includes an optional practical expedient for lessors to elect, by class of underlying asset, to not separate the lease from the non-lease components if certain criteria are met. Topic 842 defines initial direct costs of a lease (which we have historically capitalized) as costs that would not have been incurred had the lease not been executed. Costs to negotiate a lease that would have been incurred regardless of whether the lease was executed, such as employee salaries, are not considered to be initial direct costs, and may not be capitalized. We pay rent under a ground lease which expires on December 31, 2086 . See Note 15 for more information regarding this ground lease. We currently account for the lease as an operating lease. We are currently evaluating the ASUs to determine if this ground lease should be accounted for as a finance lease with a corresponding right-of-use asset. The ASUs are effective in the first quarter of 2019 and are required to be adopted using a modified retrospective approach, which includes optional practical expedients related to leases that commenced before the effective date. ASU No. 2018-11 includes an optional practical expedient which allows the new requirements to be applied on the date of adoption rather than the beginning of the earliest comparative period presented. We are in the process of evaluating the impact of the ASUs, and the related practical expedients, on our financial statements and we plan to adopt the ASUs in the first quarter of 2019.

Investment in Real Estate

Investment in Real Estate	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Investment in Real Estate	Investment in Real Estate Property previously held for sale During the first quarter we actively marketed for sale an 80,000 square foot Class A office property and a health club located in Honolulu, Hawaii. We partially own the assets through a consolidated joint venture in which we own a two-thirds interest. The net assets were presented in our first quarter balance sheet as property held-for-sale. During the second quarter we ceased marketing the assets for sale and reclassified the net assets in our balance sheet to investment in real estate. Acquisitions during the six months ended June 30, 2017 We account for our property acquisitions as asset acquisitions. Prior to January 1, 2017, we accounted for our property acquisitions as business combinations. The acquired properties results of operations are included in our results of operations from the respective acquisition dates. On April 25, 2017 , a consolidated JV that we manage and in which we own an equity interest acquired two Class A office properties. The table below summarizes the purchase price allocations for the acquisitions. The contract and purchase prices differ due to prorations and similar matters: (In thousands) 1299 Ocean 429 Santa Monica Submarket Santa Monica Santa Monica Acquisition date April 25 April 25 Contract price $ 275,800 $ 77,000 Building square footage 206 87 Investment in real estate: Land $ 22,748 $ 4,949 Buildings and improvements 260,188 69,286 Tenant improvements and lease intangibles 5,010 3,248 Acquired above- and below-market leases, net (10,683 ) (722 ) Net assets and liabilities acquired $ 277,263 $ 76,761

Acquired Lease Intangibles

Acquired Lease Intangibles	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	Acquired Lease Intangibles Summary of our Acquired Lease Intangibles The table below summarizes our above- and below-market leases: (In thousands) June 30, 2018 December 31, 2017 Above-market tenant leases $ 5,997 $ 7,177 Above-market tenant leases - accumulated amortization (3,209 ) (3,846 ) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (199 ) (190 ) Acquired lease intangible assets, net $ 3,741 $ 4,293 Below-market tenant leases $ 118,707 $ 127,606 Below-market tenant leases - accumulated accretion (59,350 ) (55,428 ) Above-market ground lease where we are the tenant 4,017 4,017 Above-market ground lease - accumulated accretion (585 ) (560 ) Acquired lease intangible liabilities, net $ 62,789 $ 75,635 Impact on the Consolidated Statements of Operations The table below summarizes the net amortization/accretion related to our above- and below-market leases : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 6,134 $ 4,275 $ 12,277 $ 8,458 Amortization of an above-market ground lease asset (2) (4 ) (4 ) (8 ) (8 ) Accretion of an above-market ground lease liability (3) 13 13 26 26 Total $ 6,143 $ 4,284 $ 12,295 $ 8,476 ______________________________________________ (1) R ecorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income. (3) Recorded as a decrease to office expense.

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Funds	6 Months Ended
	Jun. 30, 2018
Real Estate Investments, Net [Abstract]
Investments In Unconsolidated Real Estate Funds	Investments in Unconsolidated Real Estate Funds Description of our Funds We manage and own equity interests in three unconsolidated Funds, the Opportunity Fund, Fund X and Partnership X, through which we and investors own eight office properties totaling 1.8 million square feet. At June 30, 2018 , we held direct and indirect equity interests of 6.2% of the Opportunity Fund, 69.4% of Fund X and 24.3% of Partnership X. Our Funds pay us fees and reimburse us for certain expenses related to property management and other services we provide. We also receive distributions based on invested capital and on any profits that exceed certain specified cash returns to the investors. The table below presents cash distributions received from our Funds: Six Months Ended June 30, (In thousands) 2018 2017 Operating distributions received $ 3,174 $ 3,290 Capital distributions received 3,774 39,962 Total distributions received $ 6,948 $ 43,252 Summarized Financial Information for our Funds The tables below present selected financial information for the Funds on a combined basis. The amounts presented reflect 100% (not our pro-rata share) of amounts related to the Funds, and are based upon historical acquired book value: (In thousands) June 30, 2018 December 31, 2017 Total assets $ 708,436 $ 704,186 Total liabilities $ 525,144 $ 523,767 Total equity $ 183,292 $ 180,419 Six Months Ended June 30, (In thousands) 2018 2017 Total revenues $ 38,963 $ 37,071 Operating income $ 11,504 $ 9,723 Net income $ 3,180 $ 2,853

Other Assets

Other Assets	6 Months Ended
	Jun. 30, 2018
Other Assets [Abstract]
Other Assets	Other Assets Other assets consisted of the following: (In thousands) June 30, 2018 December 31, 2017 Restricted cash $ 121 $ 121 Prepaid expenses 2,952 9,235 Other indefinite-lived intangibles 1,988 1,988 Furniture, fixtures and equipment, net 839 1,155 Other 6,099 5,943 Total other assets $ 11,999 $ 18,442

Secured Notes Payable and Revol

Secured Notes Payable and Revolving Credit Facility, Net	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Secured Notes Payable and Revolving Credit Facility, Net	Secured Notes Payable and Revolving Credit Facility, Net The following table summarizes our secured notes payable and revolving credit facility: Description Maturity Date (1) Principal Balance as of June 30, 2018 Principal Balance as of December 31, 2017 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date Wholly Owned Subsidiaries Term loan (3) — $ — $ 146,974 — — — Term loan (3) — — 280,721 — — — Fannie Mae loan 10/1/2019 145,000 145,000 LIBOR + 1.25% N/A N/A Term loan (4) 4/15/2022 340,000 340,000 LIBOR + 1.40% 2.77% 4/1/2020 Term loan (4) 7/27/2022 180,000 180,000 LIBOR + 1.45% 3.06% 7/1/2020 Term loan (4) 11/1/2022 400,000 400,000 LIBOR + 1.35% 2.64% 11/1/2020 Term loan (4) 6/23/2023 360,000 360,000 LIBOR + 1.55% 2.57% 7/1/2021 Term loan (4) 12/23/2023 220,000 220,000 LIBOR + 1.70% 3.62% 12/23/2021 Term loan (4) 1/1/2024 300,000 300,000 LIBOR + 1.55% 3.46% 1/1/2022 Term loan (4) 3/3/2025 335,000 — LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (4) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.84% 3/1/2020 Fannie Mae loans (4) 12/1/2025 115,000 115,000 LIBOR + 1.25% 2.76% 12/1/2020 Fannie Mae loans (4) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Term loan (5) 6/1/2038 31,929 32,213 N/A 4.55% N/A Revolving credit facility (6) 8/21/2020 81,000 — LIBOR + 1.40% N/A N/A Total Wholly Owned Subsidiary Debt 3,160,329 3,172,308 Consolidated JVs Term loan (4) 2/28/2023 580,000 580,000 LIBOR + 1.40% 2.37% 3/1/2021 Term loan (4) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Total Consolidated Debt (7) 4,140,329 4,152,308 Unamortized loan premium, net 4,089 4,191 Deferred loan costs, net (37,923 ) (39,109 ) Total Consolidated Debt, net $ 4,106,495 $ 4,117,390 ___________________________________________________ Except as noted below, each loan (including our revolving credit facility) is non-recourse and secured by one or more separate collateral pools consisting of one or more properties, and requires monthly payments of interest only with the outstanding principal due upon maturity. (1) Maturity dates include the effect of extension options. (2) Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees. See Note 9 for details of our interest rate swaps. (3) At June 30, 2018 , this loan had been paid off. (4) Loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (5) Requires monthly payments of principal and interest. Principal amortization is based upon a 30 -year amortization schedule. (6) $400.0 million revolving credit facility. Unused commitment fees range from 0.15% to 0.20% . (7) See Note 12 for our fair value disclosures. Debt Statistics The following table summarizes our fixed and floating rate debt: (In thousands) Principal Balance as of June 30, 2018 Principal Balance as of December 31, 2017 Aggregate swapped to fixed rate loans $ 3,882,400 $ 3,547,400 Aggregate fixed rate loans 31,929 459,908 Aggregate floating rate loans 226,000 145,000 Total Debt $ 4,140,329 $ 4,152,308 The following table summarizes certain debt statistics at June 30, 2018 : Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $3.91 Weighted average remaining life (including extension options) 5.9 years Weighted average remaining fixed interest period 3.2 years Weighted average annual interest rate 3.07% Future Principal Payments At June 30, 2018 , the minimum future principal payments due on our secured notes payable and revolving credit facility were as follows: Twelve months ending June 30: Excluding Maturity Extension Options Including Maturity Extension Options (1) (In thousands) 2019 $ 702 $ 702 2020 145,735 145,735 2021 376,769 81,769 2022 640,805 340,805 2023 1,675,842 1,520,842 Thereafter 1,300,476 2,050,476 Total future principal payments $ 4,140,329 $ 4,140,329 ____________________________________________ (1) Our loan agreements generally require that we meet certain minimum financial thresholds to be able to extend the loan maturity. Loan Costs Deferred loan costs are net of accumulated amortization of $20.2 million and $18.0 million at June 30, 2018 and December 31, 2017 , respectively. The table below presents loan costs which are included in Interest expense in our consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Loan costs expensed $ — $ 376 $ 404 $ 376 Deferred loan cost amortization 1,970 2,424 3,875 4,522 Total $ 1,970 $ 2,800 $ 4,279 $ 4,898

Interest Payable, Accounts Paya

Interest Payable, Accounts Payable and Deferred Revenue	6 Months Ended
	Jun. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Interest Payable, Accounts Payable and Deferred Revenue	Interest Payable, Accounts Payable and Deferred Revenue Interest payable, accounts payable and deferred revenue consisted of the following: (In thousands) June 30, 2018 December 31, 2017 Interest payable $ 10,592 $ 9,829 Accounts payable and accrued liabilities 75,748 62,741 Deferred revenue 39,079 31,377 Total interest payable, accounts payable and deferred revenue $ 125,419 $ 103,947

Derivative Contracts

Derivative Contracts	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Contracts	Derivative Contracts We make use of interest rate swap and cap contracts to manage the risk associated with changes in interest rates on our floating-rate debt. When we enter into a floating-rate term loan, we generally enter into an interest rate swap agreement for the equivalent principal amount, for a period covering the majority of the loan term, which effectively converts our floating-rate debt to a fixed-rate basis during that time. In limited instances, we also make use of interest rate caps to limit our exposure to interest rate increases on our floating-rate debt. We do not speculate in derivatives and we do not make use of any other derivative instruments. See Note 7 regarding our debt, and our consolidated JVs debt, that is hedged. See Note 16 regarding our unconsolidated Funds debt that is hedged. Derivative Summary As of June 30, 2018 , all of our interest rate swaps, which include the interest rate swaps of our consolidated JVs and our unconsolidated Funds, were designated as cash flow hedges: Number of Interest Rate Swaps Notional (In thousands) Consolidated derivatives (1)(3) 27 $ 3,882,400 Unconsolidated Funds' derivatives (2)(3) 4 $ 510,000 ___________________________________________________ (1) The notional amount reflects 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) The notional amount reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. (3) See Note 12 for our derivative fair value disclosures. Credit-risk-related Contingent Features We have agreements with each of our interest rate swap counterparties that contain a provision under which we could also be declared in default on our derivative obligations if we default on the underlying indebtedness that we are hedging. As of June 30, 2018 , there have been no events of default with respect to our interest rate swaps or our consolidated JVs' or unconsolidated Funds' interest rate swaps. We do not post collateral for our interest rate swap contract liabilities. As of June 30, 2018 , we, including our consolidated JVs' and our unconsolidated Funds, did not have any interest rate swaps with fair values that were in a liability position. Counterparty Credit Risk We are subject to credit risk from the counterparties on our interest rate swap contract assets because we do not receive collateral. We seek to minimize that risk by entering into agreements with a variety of high quality counterparties with investment grade ratings. The fair value of our interest rate swap contract assets, including accrued interest and excluding credit risk adjustments, were as follows: (In thousands) June 30, 2018 December 31, 2017 Consolidated derivatives (1) $ 117,876 $ 60,093 Unconsolidated Funds' derivatives (2) $ 19,582 $ 9,350 ___________________________________________________ (1) The amounts reflect 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) The amounts reflect 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. Impact of Hedges on AOCI and the Consolidated Statements of Operations The table below presents the effect of our derivatives on our AOCI and the consolidated statements of operations: (In thousands) Six Months Ended June 30, 2018 2017 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gain recorded in AOCI - adoption of ASU 2017-12 (1)(2) $ 211 $ — Gain (loss) recorded in AOCI (1)(2) $ 58,890 $ (4,016 ) (Gain) loss reclassified from AOCI to Interest Expense (1) $ (2,063 ) $ 8,955 Total Interest Expense presented in the consolidated statements of operations $ (66,168 ) $ (74,954 ) Gain related to ineffectiveness recorded in Interest Expense $ — $ 25 Unconsolidated Funds' derivatives (our share) (3) : Gain recorded in AOCI (1) $ 6,404 $ 867 Gain reclassified from AOCI to Income, including depreciation, from unconsolidated real estate funds (1) $ (79 ) $ (170 ) Total Income, including depreciation, from unconsolidated real estate funds presented in the consolidated statements of operations $ 3,174 $ 3,290 ___________________________________________________ (1) See Note 10 for our AOCI reconciliation. (2) See Note 2 regarding the ASU adoption. (3) We calculate our share by multiplying the total amount for each Fund by our equity interest in the respective Fund. Future Reclassifications from AOCI At June 30, 2018 , our estimate of the AOCI related to derivatives designated as cash flow hedges, that will be reclassified to earnings during the next twelve months as interest rate swap payments are made is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 30,465 Unconsolidated Funds' derivatives (our share): Gains to be reclassified from AOCI to Income, including depreciation, from unconsolidated real estate funds $ 2,053

Equity

Equity	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Equity	Equity Transactions During the six months ended June 30, 2018 , we (i) acquired 339 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units, (ii) acquired 3 thousand OP Units for $108 thousand in cash and (iii) issued 14 thousand shares of our common stock for the exercise of 32 thousand stock options on a net settlement basis (net of the exercise price and related taxes). During the six months ended June 30, 2017 , we (i) acquired 659 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units, (ii) issued 1.3 million shares of our common stock for the exercise of 3.9 million stock options on a net settlement basis (net of the exercise price and related taxes) and (iii) issued 9.1 million shares of our common stock under our ATM program for net proceeds of $346.0 million . Condensed Consolidated Statements of Equity The tables below present our condensed consolidated statements of equity: (In thousands) DEI Stockholders' Equity Noncontrolling Interests Total Equity Balance as of January 1, 2018 $ 2,437,524 $ 1,464,525 $ 3,902,049 Adjustment to opening balance of accumulated deficit (1) (211 ) — (211 ) Net income 59,890 9,774 69,664 Cash flow hedge fair value adjustments 44,387 18,976 63,363 Dividends and distributions (84,955 ) (26,114 ) (111,069 ) Exchange of OP units for common stock 5,481 (5,481 ) — OP Units redeemed with cash (59 ) (49 ) (108 ) Exercise of stock options (2) (314 ) — (314 ) Stock-based compensation — 6,912 6,912 Balance as of June 30, 2018 $ 2,461,743 $ 1,468,543 $ 3,930,286 __________________________________________________ (1) Reflects the adoption of ASU No. 2017-12. See Note 2 for details. (2) Reflects withholding taxes. We issued shares of our common stock for the exercise of stock options on a net settlement basis (net of the exercise price and related taxes). (In thousands) DEI Stockholders' Equity Noncontrolling Interests Total Equity Balance as of January 1, 2017 $ 1,921,143 $ 1,092,928 $ 3,014,071 Net income 39,293 4,640 43,933 Cash flow hedge fair value adjustments 5,715 (79 ) 5,636 Contributions to consolidated JV — 188,248 188,248 Dividends and distributions (72,194 ) (19,202 ) (91,396 ) Exchange of OP units for common stock 8,856 (8,856 ) — Exercise of stock options (1) (52,704 ) — (52,704 ) Stock-based compensation — 5,786 5,786 Sale of common stock, net of offering costs 276,961 — 276,961 Balance as of June 30, 2017 $ 2,127,070 $ 1,263,465 $ 3,390,535 __________________________________________________ (1) Reflects withholding taxes. We issued shares of our common stock for the exercise of stock options on a net settlement basis (net of the exercise price and related taxes). Noncontrolling Interests Our noncontrolling interests consist of interests in our Operating Partnership and consolidated JVs which are not owned by us. Noncontrolling interests in our Operating Partnership consist of OP Units and fully-vested LTIP Units, and represented approximately 14% of our Operating Partnership's total interests as of June 30, 2018 when we and our Operating Partnership had 169.9 million shares of common stock and 27.4 million OP Units and fully-vested LTIP Units outstanding. A share of our common stock, an OP Unit and an LTIP Unit (once vested and booked up) have essentially the same economic characteristics, sharing equally in the distributions from our Operating Partnership. Investors who own OP Units have the right to cause our Operating Partnership to acquire their OP Units for an amount of cash per unit equal to the market value of one share of our common stock at the date of acquisition, or, at our election, exchange their OP Units for shares of our common stock on a one-for-one b asis. LTIP Units have been granted to our key employees and non-employee directors as part of their compensation. These awards generally vest over a service period and once vested can generally be converted to OP Units provided our stock price increases by more than a specified hurdle. Changes in our Ownership Interest in our Operating Partnership The table below presents the effect on our equity from net income attributable to common stockholders and changes in our ownership interest in our Operating Partnership: Six Months Ended June 30, (In thousands) 2018 2017 Net income attributable to common stockholders $ 59,890 $ 39,293 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 5,481 8,856 Repurchase of OP Units from noncontrolling interests (59 ) — Net transfers from noncontrolling interests 5,422 8,856 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 65,312 $ 48,149 AOCI Reconciliation (1) The table below presents a reconciliation of our AOCI, which consists solely of adjustments related to derivatives designated as cash flow hedges: Six Months Ended June 30, (In thousands) 2018 2017 Beginning balance $ 43,099 $ 15,156 Adoption of ASU 2017-12 - cumulative opening balance adjustment (2) 211 — Consolidated derivatives: Other comprehensive income (loss) before reclassifications 58,890 (4,016 ) Reclassification of (gains) losses from AOCI to Interest Expense (2,063 ) 8,955 Unconsolidated Funds' derivatives (our share): Other comprehensive income before reclassifications 6,404 867 Reclassification of gains from AOCI to Income, including depreciation, from unconsolidated real estate funds (79 ) (170 ) Net current period OCI 63,363 5,636 OCI attributable to noncontrolling interests (18,976 ) 79 OCI attributable to common stockholders 44,387 5,715 Ending balance $ 87,486 $ 20,871 ___________________________________________________ (1) See Note 9 for the details of our derivatives and Note 12 for our derivative fair value disclosures. (2) See Note 2 regarding our adoption of the ASU on January 1, 2018. Equity Compensation On June 2, 2016, the Douglas Emmett 2016 Omnibus Stock Incentive Plan ("2016 Plan") became effective after receiving stockholder approval, superseding our prior plan, the Douglas Emmett 2006 Omnibus Stock Incentive Plan ("2006 Plan"), both of which allow for awards to our directors, officers, employees and consultants. The key terms of the two plans are substantially identical, except for the date of expiration, the number of shares authorized for grants and various technical provisions. Grants after June 2, 2016 were awarded under the 2016 Plan, while grants prior to that date were awarded under the 2006 Plan (grants under the 2006 Plan remain outstanding according to their terms). Both plans are administered by the compensation committee of our board of directors. Total net stock-based compensation expense was $2.9 million and $2.6 million for the three months ended June 30, 2018 and 2017 , and $6.0 million and $5.3 million for the six months ended June 30, 2018 and 2017 respectively. These amounts are net of capitalized stock-based compensation of $496 thousand and $247 thousand for the three months ended June 30, 2018 and 2017 , and $948 thousand and $475 thousand for the six months ended June 30, 2018 and 2017 respectively. No options were exercised for the three months ended June 30, 2018 and 2017 . The intrinsic value of options exercised was $803 thousand and $102.1 million for the six months ended June 30, 2018 and 2017 respectively.

EPS

EPS	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
EPS	EPS We calculate basic EPS by dividing the net income attributable to common stockholders for the period by the weighted average number of common shares outstanding during the period. We calculate diluted EPS by dividing the net income attributable to common stockholders for the period by the weighted average number of common shares and dilutive instruments outstanding during the period using the treasury stock method. We account for unvested LTIP awards that contain nonforfeitable rights to dividends as participating securities and include these securities in the computation of basic and diluted EPS using the two-class method. The table below presents the calculation of basic and diluted EPS: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Numerator (In thousands): Net income attributable to common stockholders $ 31,684 $ 20,244 $ 59,890 $ 39,293 Allocation to participating securities: Unvested LTIP Units (156 ) (97 ) (294 ) (196 ) Numerator for basic and diluted net income attributable to common stock holders $ 31,528 $ 20,147 $ 59,596 $ 39,097 Denominator (In thousands): Weighted average shares of common stock outstanding - basic 169,916 155,898 169,759 154,203 Effect of dilutive securities: Stock options (1) 10 54 17 607 Weighted average shares of common stock and common stock equivalents outstanding - diluted 169,926 155,952 169,776 154,810 Basic EPS: Net income attributable to common stockholders per share $ 0.19 $ 0.13 $ 0.35 $ 0.25 Diluted EPS: Net income attributable to common stockholders per share $ 0.19 $ 0.13 $ 0.35 $ 0.25 ____________________________________________________ (1) The following securities were excluded from the calculation of diluted EPS because including them would be anti-dilutive to the calculation: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 OP Units 26,637 24,797 26,790 24,730 Vested LTIP Units 807 313 803 536

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our estimates of the fair value of financial instruments were determined using available market information and widely used valuation methods. Considerable judgment is necessary to interpret market data and determine an estimated fair value. The use of different market assumptions or valuation methods may have a material effect on the estimated fair values. The FASB fair value framework hierarchy distinguishes between assumptions based on market data obtained from sources independent of the reporting entity, and the reporting entity’s own assumptions about market-based inputs. The hierarchy is as follows: Level 1 - inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - inputs are observable either directly or indirectly for similar assets and liabilities in active markets. Level 3 - inputs are unobservable assumptions generated by the reporting entity As of June 30, 2018 , we did not have any fair value estimates of financial instruments using Level 3 inputs. Financial instruments disclosed at fair value Short term financial instruments: The carrying amounts for cash and cash equivalents, tenant receivables, revolving credit line, interest payable, accounts payable, security deposits and dividends payable approximate fair value because of the short-term nature of these instruments. Secured notes payable: See Note 7 for the details of our secured notes payable. We estimate the fair value of our consolidated secured notes payable (excluding our revolving credit facility) by calculating the credit-adjusted present value of the principal and interest payments for each secured note payable. The calculation incorporates observable market interest rates which we consider to be Level 2 inputs, assumes that the loans will be outstanding through maturity, and excludes any maturity extension options. The table below presents the estimated fair value of our secured notes payable: (In thousands) June 30, 2018 December 31, 2017 Fair value $ 4,090,917 $ 4,195,489 Carrying value $ 4,063,418 $ 4,156,499 Financial instruments measured at fair value Derivative instruments: See Note 9 for the details of our derivatives. We present our derivatives on the balance sheet at fair value, on a gross basis, excluding accrued interest. We estimate the fair value of our derivative instruments by calculating the credit-adjusted present value of the expected future cash flows of each derivative. The calculation incorporates the contractual terms of the derivatives, observable market interest rates which we consider to be Level 2 inputs, and credit risk adjustments to reflect the counterparty's as well as our own nonperformance risk. Our derivatives are not subject to master netting arrangements. The table below presents the estimated fair value of our derivatives: (In thousands) June 30, 2018 December 31, 2017 Derivative Assets: Fair value - consolidated derivatives (1) $ 116,090 $ 60,069 Fair value - unconsolidated Funds' derivatives (2) $ 19,308 $ 9,437 Derivative Liabilities: Fair value - consolidated derivatives (1) $ — $ 807 Fair value - unconsolidated Funds' derivatives (2) $ — $ — ____________________________________________________ (1) Consolidated derivatives, which include 100% , not our pro-rata share, of our consolidated JVs' derivatives, are included in interest rate contracts in our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable in the consolidated balance sheets. (2) Reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. Our pro-rata share of the amounts related to the unconsolidated Funds' derivatives is included in our Investment in unconsolidated real estate funds in our consolidated balance sheets. See Note 16 regarding our unconsolidated Funds debt and derivatives.

Segment Reporting

Segment Reporting	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate in two business segments: (i) the acquisition, development, ownership and management of office real estate and (ii) the acquisition, development, ownership and management of multifamily real estate. The services for our office segment primarily include rental of office space and other tenant services, including parking and storage space rental. The services for our multifamily segment include rental of apartments and other tenant services, including parking and storage space rental. Asset information by segment is not reported because we do not use this measure to assess performance or make decisions to allocate resources. Therefore, depreciation and amortization expense is not allocated among segments. General and administrative expenses and interest expense are not included in segment profit as our internal reporting addresses these items on a corporate level. The table below presents the operating activity of our reportable segments: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Office Segment Total office revenues $ 193,761 $ 175,542 $ 381,094 $ 345,890 Office expenses (61,818 ) (57,887 ) (122,174 ) (112,772 ) Office segment profit 131,943 117,655 258,920 233,118 Multifamily Segment Total multifamily revenues 25,708 24,090 50,622 48,223 Multifamily expenses (6,908 ) (5,878 ) (13,606 ) (11,825 ) Multifamily segment profit 18,800 18,212 37,016 36,398 Total profit from all segments $ 150,743 $ 135,867 $ 295,936 $ 269,516 The table below presents a reconciliation of the total profit from all segments to net income attributable to common stockholders: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total profit from all segments $ 150,743 $ 135,867 $ 295,936 $ 269,516 General and administrative (9,437 ) (8,592 ) (19,004 ) (18,748 ) Depreciation and amortization (73,379 ) (68,793 ) (145,877 ) (136,167 ) Other income 2,792 2,331 5,422 4,493 Other expenses (2,086 ) (1,773 ) (3,819 ) (3,497 ) Income, including depreciation, from unconsolidated real estate funds 1,668 1,113 3,174 3,290 Interest expense (33,268 ) (38,000 ) (66,168 ) (74,954 ) Net income 37,033 22,153 69,664 43,933 Less: Net income attributable to noncontrolling interests (5,349 ) (1,909 ) (9,774 ) (4,640 ) Net income attributable to common stockholders $ 31,684 $ 20,244 $ 59,890 $ 39,293

Future Minimum Lease Rental Rec

Future Minimum Lease Rental Receipts	6 Months Ended
	Jun. 30, 2018
Operating Leases, Future Minimum Payments Receivable [Abstract]
Future Minimum Lease Rental Receipts	Future Minimum Lease Rental Receipts We lease space to tenants primarily under non-cancelable operating leases that generally contain provisions for a base rent plus reimbursement of certain operating expenses, and we own fee interests in two parcels of land from which we receive rent under ground leases. The table below presents the future minimum base rentals on our non-cancelable office tenant and ground leases at June 30, 2018 : Twelve months ending June 30: (In thousands) 2019 $ 563,563 2020 527,436 2021 456,384 2022 364,772 2023 291,970 Thereafter 670,467 Total future minimum base rentals (1) $ 2,874,592 _____________________________________________________ (1) Does not include (i) residential leases, which typically have a term of one year or less, (ii) holdover rent, (iii) other types of rent such as storage and antenna rent, (iv) tenant reimbursements, (v) straight- line rent, (vi) amortization/accretion of acquired above/below-market lease intangibles and (vii) percentage rents. The amounts assume that early termination options held by tenants are not exercised.

Future Minimum Lease Rental Pay

Future Minimum Lease Rental Payments	6 Months Ended
	Jun. 30, 2018
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Future Minimum Lease Rental Payments	Future Minimum Lease Rental Payments We pay rent under a ground lease which expires on December 31, 2086 . The rent is fixed at $733 thousand per year until February 28, 2019 , and will then reset to the greater of the existing ground rent or market. We incurred ground rent expense of $183 thousand for the three months ended June 30, 2018 and 2017 and $366 thousand for the six months ended June 30, 2018 and 2017 respectively. The table below, which assumes that the ground rent payments will continue to be $733 thousand per year after February 28, 2019 , presents the future minimum ground lease payments as of June 30, 2018 : Twelve months ending June 30: (In thousands) 2019 $ 733 2020 733 2021 733 2022 733 2023 733 Thereafter 46,544 Total future minimum lease payments $ 50,209

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Commitments, Contingencies and Guarantees	Commitments, Contingencies and Guarantees Legal Proceedings From time to time, we are party to various lawsuits, claims and other legal proceedings that arise in the ordinary course of our business. Excluding ordinary, routine litigation incidental to our business, we are not currently a party to any legal proceedings that we believe would reasonably be expected to have a materially adverse effect on our business, financial condition or results of operations. Concentration of Risk We are subject to credit risk with respect to our tenant receivables and deferred rent receivables related to our tenant leases. Our tenants' ability to honor the terms of their respective leases remains dependent upon economic, regulatory and social factors. We seek to minimize our credit risk from our tenant leases by (i) targeting smaller, more affluent tenants, from a diverse mix of industries, (ii) performing credit evaluations of prospective tenants and (iii) obtaining security deposits or letters of credit from our tenants. For the six months ended June 30, 2018 and 2017 , no tenant accounted for more than 10% of our total revenues. All of our properties, including the properties of our consolidated JVs and unconsolidated Funds, are located in Los Angeles County, California and Honolulu, Hawaii, and we are therefore susceptible to adverse economic and regulatory developments, as well as natural disasters, in those markets. We are subject to credit risk with respect to our interest rate swap counterparties that we use to manage the risk associated with our floating rate debt. We do not post or receive collateral with respect to our swap transactions. See Note 9 for the details of our interest rate contracts. We seek to minimize our credit risk by entering into agreements with a variety of high quality counterparties with investment grade ratings. We have significant cash balances invested in a variety of short-term money market funds that are intended to preserve principal value and maintain a high degree of liquidity while providing current income. These investments are not insured against loss of principal and there is no guarantee that our investments in these funds will be redeemable at par value. We also have significant cash balances in bank accounts with high quality financial institutions with investment grade ratings. Interest bearing bank accounts at each U.S. banking institution are insured by the FDIC up to $250 thousand . Asset Retirement Obligations Conditional asset retirement obligations represent a legal obligation to perform an asset retirement activity in which the timing and/or method of settlement is conditional on a future event that may or may not be within our control. A liability for a conditional asset retirement obligation must be recorded if the fair value of the obligation can be reasonably estimated. Environmental site assessments have identified twenty-eight buildings in our Consolidated Portfolio and four buildings owned by our unconsolidated Funds which contain asbestos, and would have to be removed in compliance with applicable environmental regulations if these properties are demolished or undergo major renovations. As of June 30, 2018 , the obligations to remove the asbestos from these properties have indeterminable settlement dates, and we are unable to reasonably estimate the fair value of the associated conditional asset retirement obligation. Development and Other Contracts During 2016, we commenced building an additional 475 apartments (net of existing apartments removed) at our Moanalua Hillside Apartments in Honolulu, Hawaii. We are also investing additional capital to upgrade the existing apartments, improve the parking and landscaping, building a new leasing and management office, and construct a new recreation and fitness facility with a new pool. As of June 30, 2018 , we had leased 194 apartments. In West Los Angeles, we plan to build a high-rise apartment building with 376 apartments. As of June 30, 2018 , we had an aggregate remaining contractual commitment for these development projects of approximately $230.6 million . As of June 30, 2018 , we had an aggregate remaining contractual commitment for capital expenditure projects, repositionings and tenant improvements of approximately $46.6 million . Guarantees We have made certain environmental and other limited indemnities and guarantees covering customary non-recourse carve- outs for our unconsolidated Funds' debt. We have also guaranteed the related swaps. Our Funds have agreed to indemnify us for any amounts that we would be required to pay under these agreements. As of June 30, 2018 , all of the obligations under the related debt and swap agreements have been performed in accordance with the terms of those agreements. The table below summarizes our Funds' debt as of June 30, 2018 . The amounts represent 100% (not our pro-rata share) of the amounts related to our Funds: Fund (1) Loan Maturity Date Principal Balance (In Millions) Variable Interest Rate Swap Fixed Interest Rate Swap Maturity Date Partnership X (2)(4) 3/1/2023 $ 110.0 LIBOR + 1.40% 2.30% 3/1/2021 Fund X (3)(4)(5) 7/1/2024 400.0 LIBOR + 1.65% 3.44% 7/1/2022 $ 510.0 ___________________________________________________ (1) See Note 5 for more information regarding our unconsolidated Funds. (2) Floating rate term loan, swapped to fixed, which is secured by two properties and requires monthly payments of interest only, with the outstanding principal due upon maturity. As of June 30, 2018 , assuming a zero-percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $2.7 million . (3) Floating rate term loan, swapped to fixed, which is secured by six properties and requires monthly payments of interest only, with the outstanding principal due upon maturity. As of June 30, 2018 , assuming a zero-percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $29.1 million . (4) Loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (5) Loan agreement includes the requirement to purchase an interest rate cap if one month LIBOR equals or exceeds 3.56% for fourteen consecutive days after the related swap matures.

Summary of Significant Accoun23

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying financial statements are the consolidated financial statements of Douglas Emmett, Inc. and its subsidiaries, including our Operating Partnership and our consolidated JVs. All significant intercompany balances and transactions have been eliminated in our consolidated financial statements. Our Operating Partnership and consolidated JVs are VIEs of which we are the primary beneficiary. As of June 30, 2018 , the total consolidated assets, liabilities and equity of the VIEs was $8.32 billion (of which $7.79 billion related to investment in real estate), $4.39 billion and $3.93 billion (of which $1.47 billion related to noncontrolling interests), respectively. The accompanying unaudited interim financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in the financial statements prepared in accordance with GAAP may have been condensed or omitted pursuant to SEC rules and regulations, although we believe that the disclosures are adequate to make their presentation not misleading. The accompanying unaudited interim financial statements include, in our opinion, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial information set forth therein. The results of operations for the interim periods are not necessarily indicative of the results that may be expected for the year ending December 31, 2018 . The interim financial statements should be read in conjunction with the consolidated financial statements in our 2017 Annual Report on Form 10-K and the notes thereto. References in this Report to the number of properties, square footage, per square footage amounts, apartment units and geography, are outside the scope of our independent registered public accounting firm’s review of our financial statements in accordance with the standards of the PCAOB.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with GAAP requires management to make certain estimates that affect the reported amounts in the consolidated financial statements and accompanying notes. Actual results could differ materially from those estimates.
Income Taxes	Income Taxes We have elected to be taxed as a REIT under the Code. Provided that we qualify for taxation as a REIT, we are generally not subject to corporate-level income tax on the earnings distributed currently to our stockholders that we derive from our REIT qualifying activities. We are subject to corporate-level tax on the earnings that we derive through our TRS.
New Accounting Pronouncements	New Accounting Pronouncements Changes to GAAP are implemented by the FASB in the form of ASUs. We consider the applicability and impact of all ASUs. Other than the ASUs discussed below, the FASB has not issued any other ASUs during 2018 that we expect to be applicable and have a material impact on our financial statements. Adopted ASUs During the six months ended June 30, 2018 we adopted the ASUs listed below: Revenue from Contracts with Customers In May 2014, the FASB issued ASU No. 2014-09, "Revenue from Contracts with Customers" (Topic 606), which provides guidance for the accounting of revenue from contracts with customers, and supersedes Topic 605, "Revenue Recognition", and most industry-specific guidance throughout the industry topics of the Codification. In March 2016, the FASB issued ASU No. 2016-08, "Principal versus Agent Considerations (Reporting Revenue Gross versus Net)", which amends Topic 606 and clarifies the guidance for principal versus agent considerations. In April 2016, the FASB issued ASU No. 2016-10, "Identifying Performance Obligations and Licensing" which amends Topic 606 and provides guidance for identifying performance obligations and licensing. In May 2016, the FASB issued ASU No. 2016-12, "Narrow-Scope Improvements and Practical Expedients" which amends Topic 606 and provides guidance for a variety of revenue recognition related topics. In February 2017, the FASB issued ASU No. 2017-05 "Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets" (Subtopic 610-20), which provides guidance for recognizing gains and losses from the transfer of nonfinancial assets in contracts with non-customers. Sales of real estate are now accounted for under Subtopic 610-20 which focuses on a transfer of control. The amendments in these ASUs were effective in the first quarter of 2018 and were required to be applied on a retrospective basis. Most of our revenues are derived from lease contracts with tenants and are not within the scope of the respective ASUs. Although our office parking revenues are within the scope of the respective ASUs, the timing and pattern of revenue recognition was not impacted. However, the scoping of our revenues could be impacted by ASU No. 2016-02, "Leases" (Topic 842), which we plan to adopt in the first quarter of 2019 - see "Recently Issued Accounting Pronouncements" further below. Our office parking revenues are mostly derived from lease contracts with our office tenants. The lease contracts generally make a specified number of parking spaces available to the tenant, and we bill and recognize parking revenues on a monthly basis in accordance with the lease agreements generally using the monthly parking rates in effect at the time of billing. Office parking revenues were $25.7 million and $24.0 million for the three months ended June 30, 2018 and 2017 , and $50.8 million and $47.2 million for the six months ended June 30, 2018 and 2017 , respectively, and are included in Office parking and other income in our consolidated statements of operations. Office parking receivables were $1.0 million as of June 30, 2018 and December 31, 2017 . Office parking receivables are included in Tenant receivables in our consolidated balance sheets. Derivatives and Hedging In August 2017, the FASB issued ASU No. 2017-12, "Derivatives and Hedging (Topic 815): Targeted Improvements to Accounting for Hedging Activities". The ASU requires the entire change in the fair value of the hedging instrument included in the assessment of hedge effectiveness be recorded in other comprehensive income. GAAP historically provided special hedge accounting only for the portion of the hedge deemed to be “highly effective” and requires an entity to separately reflect the amount by which the hedging instrument does not offset the hedged item, which is referred to as the “ineffective” amount. The amendments are effective in the first quarter of 2019 and are required to be applied on a prospective basis. We early adopted the ASU and it did not have a material impact on our financial statements. The ASU requires the cumulative effect of initially applying the ASU as an adjustment to AOCI with a corresponding adjustment to the opening balance of retained earnings as of the beginning of the fiscal year in which the ASU is adopted. On January 1, 2018, we recorded such an adjustment to AOCI and accumulated deficit of $211 thousand . See Note 10 . ASUs Not Yet Adopted Leases In February 2016, the FASB issued ASU No. 2016-02, "Leases" (Topic 842). The primary difference between Topic 842 and current GAAP is the recognition of lease assets and liabilities on the balance sheet by lessees for leases classified as operating leases under current GAAP. The accounting applied by lessors is largely unchanged from current GAAP, for example, the vast majority of operating leases will remain classified as operating leases, and lessors will continue to recognize lease income for those leases on a straight-line basis over the lease term. Topic 842 requires separation of the lease from the non-lease components (for example, maintenance services or other activities that transfer a good or service to the customer) in a contract. Only the lease components should be accounted for in accordance with Topic 842. The consideration in the contract is allocated to the lease and non-lease components on a relative standalone selling price basis and the non-lease component would be accounted for in accordance with ASC 606 ("Revenue from Contracts with Customers"). In July 2018, the FASB issued ASU No. 2018-11 which includes an optional practical expedient for lessors to elect, by class of underlying asset, to not separate the lease from the non-lease components if certain criteria are met. Topic 842 defines initial direct costs of a lease (which we have historically capitalized) as costs that would not have been incurred had the lease not been executed. Costs to negotiate a lease that would have been incurred regardless of whether the lease was executed, such as employee salaries, are not considered to be initial direct costs, and may not be capitalized. We pay rent under a ground lease which expires on December 31, 2086 . See Note 15 for more information regarding this ground lease. We currently account for the lease as an operating lease. We are currently evaluating the ASUs to determine if this ground lease should be accounted for as a finance lease with a corresponding right-of-use asset. The ASUs are effective in the first quarter of 2019 and are required to be adopted using a modified retrospective approach, which includes optional practical expedients related to leases that commenced before the effective date. ASU No. 2018-11 includes an optional practical expedient which allows the new requirements to be applied on the date of adoption rather than the beginning of the earliest comparative period presented. We are in the process of evaluating the impact of the ASUs, and the related practical expedients, on our financial statements and we plan to adopt the ASUs in the first quarter of 2019.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our estimates of the fair value of financial instruments were determined using available market information and widely used valuation methods. Considerable judgment is necessary to interpret market data and determine an estimated fair value. The use of different market assumptions or valuation methods may have a material effect on the estimated fair values. The FASB fair value framework hierarchy distinguishes between assumptions based on market data obtained from sources independent of the reporting entity, and the reporting entity’s own assumptions about market-based inputs. The hierarchy is as follows: Level 1 - inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - inputs are observable either directly or indirectly for similar assets and liabilities in active markets. Level 3 - inputs are unobservable assumptions generated by the reporting entity

Overview (Tables)

Overview (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of June 30, 2018 , our portfolio (not including two parcels of land from which we receive rent under ground leases), consisted of the following office and multifamily properties (both of which include ancillary retail space): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 53 53 Consolidated JV properties 10 10 Unconsolidated Fund properties — 8 63 71 Multifamily Wholly-owned properties 10 10 Total 73 81

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	6 Months Ended
	Jun. 30, 2018
Business Combinations [Abstract]
Schedule of Acquisitions and Net Assets and Liabilities Acquired	The table below summarizes the purchase price allocations for the acquisitions. The contract and purchase prices differ due to prorations and similar matters: (In thousands) 1299 Ocean 429 Santa Monica Submarket Santa Monica Santa Monica Acquisition date April 25 April 25 Contract price $ 275,800 $ 77,000 Building square footage 206 87 Investment in real estate: Land $ 22,748 $ 4,949 Buildings and improvements 260,188 69,286 Tenant improvements and lease intangibles 5,010 3,248 Acquired above- and below-market leases, net (10,683 ) (722 ) Net assets and liabilities acquired $ 277,263 $ 76,761

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	6 Months Ended
	Jun. 30, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Lease Intangibles	(In thousands) June 30, 2018 December 31, 2017 Above-market tenant leases $ 5,997 $ 7,177 Above-market tenant leases - accumulated amortization (3,209 ) (3,846 ) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (199 ) (190 ) Acquired lease intangible assets, net $ 3,741 $ 4,293 Below-market tenant leases $ 118,707 $ 127,606 Below-market tenant leases - accumulated accretion (59,350 ) (55,428 ) Above-market ground lease where we are the tenant 4,017 4,017 Above-market ground lease - accumulated accretion (585 ) (560 ) Acquired lease intangible liabilities, net $ 62,789 $ 75,635
Schedule of Net Amortization or Accretion of Above- and Below-Market Leases	The table below summarizes the net amortization/accretion related to our above- and below-market leases : Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 6,134 $ 4,275 $ 12,277 $ 8,458 Amortization of an above-market ground lease asset (2) (4 ) (4 ) (8 ) (8 ) Accretion of an above-market ground lease liability (3) 13 13 26 26 Total $ 6,143 $ 4,284 $ 12,295 $ 8,476 ______________________________________________ (1) R ecorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income. (3) Recorded as a decrease to office expense.

Investments in Unconsolidated27

Investments in Unconsolidated Real Estate Funds (Tables)	6 Months Ended
	Jun. 30, 2018
Real Estate Investments, Net [Abstract]
Summary of Statement of Operations for Investments in Unconsolidated Real Estate Funds and Cash Received from Funds	The table below presents cash distributions received from our Funds: Six Months Ended June 30, (In thousands) 2018 2017 Operating distributions received $ 3,174 $ 3,290 Capital distributions received 3,774 39,962 Total distributions received $ 6,948 $ 43,252 The tables below present selected financial information for the Funds on a combined basis. The amounts presented reflect 100% (not our pro-rata share) of amounts related to the Funds, and are based upon historical acquired book value: (In thousands) June 30, 2018 December 31, 2017 Total assets $ 708,436 $ 704,186 Total liabilities $ 525,144 $ 523,767 Total equity $ 183,292 $ 180,419 Six Months Ended June 30, (In thousands) 2018 2017 Total revenues $ 38,963 $ 37,071 Operating income $ 11,504 $ 9,723 Net income $ 3,180 $ 2,853

Other Assets (Tables)

Other Assets (Tables)	6 Months Ended
	Jun. 30, 2018
Other Assets [Abstract]
Schedule of Other Assets	Other assets consisted of the following: (In thousands) June 30, 2018 December 31, 2017 Restricted cash $ 121 $ 121 Prepaid expenses 2,952 9,235 Other indefinite-lived intangibles 1,988 1,988 Furniture, fixtures and equipment, net 839 1,155 Other 6,099 5,943 Total other assets $ 11,999 $ 18,442

Secured Notes Payable and Rev29

Secured Notes Payable and Revolving Credit Facility, Net (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule of Secured Notes Payable and Revolving Credit Facility	The following table summarizes our secured notes payable and revolving credit facility: Description Maturity Date (1) Principal Balance as of June 30, 2018 Principal Balance as of December 31, 2017 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date Wholly Owned Subsidiaries Term loan (3) — $ — $ 146,974 — — — Term loan (3) — — 280,721 — — — Fannie Mae loan 10/1/2019 145,000 145,000 LIBOR + 1.25% N/A N/A Term loan (4) 4/15/2022 340,000 340,000 LIBOR + 1.40% 2.77% 4/1/2020 Term loan (4) 7/27/2022 180,000 180,000 LIBOR + 1.45% 3.06% 7/1/2020 Term loan (4) 11/1/2022 400,000 400,000 LIBOR + 1.35% 2.64% 11/1/2020 Term loan (4) 6/23/2023 360,000 360,000 LIBOR + 1.55% 2.57% 7/1/2021 Term loan (4) 12/23/2023 220,000 220,000 LIBOR + 1.70% 3.62% 12/23/2021 Term loan (4) 1/1/2024 300,000 300,000 LIBOR + 1.55% 3.46% 1/1/2022 Term loan (4) 3/3/2025 335,000 — LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (4) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.84% 3/1/2020 Fannie Mae loans (4) 12/1/2025 115,000 115,000 LIBOR + 1.25% 2.76% 12/1/2020 Fannie Mae loans (4) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Term loan (5) 6/1/2038 31,929 32,213 N/A 4.55% N/A Revolving credit facility (6) 8/21/2020 81,000 — LIBOR + 1.40% N/A N/A Total Wholly Owned Subsidiary Debt 3,160,329 3,172,308 Consolidated JVs Term loan (4) 2/28/2023 580,000 580,000 LIBOR + 1.40% 2.37% 3/1/2021 Term loan (4) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Total Consolidated Debt (7) 4,140,329 4,152,308 Unamortized loan premium, net 4,089 4,191 Deferred loan costs, net (37,923 ) (39,109 ) Total Consolidated Debt, net $ 4,106,495 $ 4,117,390 ___________________________________________________ Except as noted below, each loan (including our revolving credit facility) is non-recourse and secured by one or more separate collateral pools consisting of one or more properties, and requires monthly payments of interest only with the outstanding principal due upon maturity. (1) Maturity dates include the effect of extension options. (2) Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees. See Note 9 for details of our interest rate swaps. (3) At June 30, 2018 , this loan had been paid off. (4) Loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (5) Requires monthly payments of principal and interest. Principal amortization is based upon a 30 -year amortization schedule. (6) $400.0 million revolving credit facility. Unused commitment fees range from 0.15% to 0.20% . (7) See Note 12 for our fair value disclosures. Debt Statistics The following table summarizes our fixed and floating rate debt: (In thousands) Principal Balance as of June 30, 2018 Principal Balance as of December 31, 2017 Aggregate swapped to fixed rate loans $ 3,882,400 $ 3,547,400 Aggregate fixed rate loans 31,929 459,908 Aggregate floating rate loans 226,000 145,000 Total Debt $ 4,140,329 $ 4,152,308 The following table summarizes certain debt statistics at June 30, 2018 : Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $3.91 Weighted average remaining life (including extension options) 5.9 years Weighted average remaining fixed interest period 3.2 years Weighted average annual interest rate 3.07%
Schedule of Future Minimum Principal Payments Due on Secured Notes Payable and Revolving Credit Facility	At June 30, 2018 , the minimum future principal payments due on our secured notes payable and revolving credit facility were as follows: Twelve months ending June 30: Excluding Maturity Extension Options Including Maturity Extension Options (1) (In thousands) 2019 $ 702 $ 702 2020 145,735 145,735 2021 376,769 81,769 2022 640,805 340,805 2023 1,675,842 1,520,842 Thereafter 1,300,476 2,050,476 Total future principal payments $ 4,140,329 $ 4,140,329 ____________________________________________ (1) Our loan agreements generally require that we meet certain minimum financial thresholds to be able to extend the loan maturity.
Schedule of Loan Costs and Amortization of Deferred Loan Costs	The table below presents loan costs which are included in Interest expense in our consolidated statements of operations: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 Loan costs expensed $ — $ 376 $ 404 $ 376 Deferred loan cost amortization 1,970 2,424 3,875 4,522 Total $ 1,970 $ 2,800 $ 4,279 $ 4,898

Interest Payable, Accounts Pa30

Interest Payable, Accounts Payable and Deferred Revenue (Tables)	6 Months Ended
	Jun. 30, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Interest Payable, Accounts Payable and Deferred Revenue	Interest payable, accounts payable and deferred revenue consisted of the following: (In thousands) June 30, 2018 December 31, 2017 Interest payable $ 10,592 $ 9,829 Accounts payable and accrued liabilities 75,748 62,741 Deferred revenue 39,079 31,377 Total interest payable, accounts payable and deferred revenue $ 125,419 $ 103,947

Derivative Contracts (Tables)

Derivative Contracts (Tables)	6 Months Ended
	Jun. 30, 2018
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Other Derivatives	As of June 30, 2018 , all of our interest rate swaps, which include the interest rate swaps of our consolidated JVs and our unconsolidated Funds, were designated as cash flow hedges: Number of Interest Rate Swaps Notional (In thousands) Consolidated derivatives (1)(3) 27 $ 3,882,400 Unconsolidated Funds' derivatives (2)(3) 4 $ 510,000 ___________________________________________________ (1) The notional amount reflects 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) The notional amount reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. (3) See Note 12 for our derivative fair value disclosures.
Schedule of Derivative Assets at Fair Value	The fair value of our interest rate swap contract assets, including accrued interest and excluding credit risk adjustments, were as follows: (In thousands) June 30, 2018 December 31, 2017 Consolidated derivatives (1) $ 117,876 $ 60,093 Unconsolidated Funds' derivatives (2) $ 19,582 $ 9,350 ___________________________________________________ (1) The amounts reflect 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) The amounts reflect 100% , not our pro-rata share, of our unconsolidated Funds' derivatives.
Effect of Derivative Instruments on Consolidated Statements of Operations	The table below presents the effect of our derivatives on our AOCI and the consolidated statements of operations: (In thousands) Six Months Ended June 30, 2018 2017 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gain recorded in AOCI - adoption of ASU 2017-12 (1)(2) $ 211 $ — Gain (loss) recorded in AOCI (1)(2) $ 58,890 $ (4,016 ) (Gain) loss reclassified from AOCI to Interest Expense (1) $ (2,063 ) $ 8,955 Total Interest Expense presented in the consolidated statements of operations $ (66,168 ) $ (74,954 ) Gain related to ineffectiveness recorded in Interest Expense $ — $ 25 Unconsolidated Funds' derivatives (our share) (3) : Gain recorded in AOCI (1) $ 6,404 $ 867 Gain reclassified from AOCI to Income, including depreciation, from unconsolidated real estate funds (1) $ (79 ) $ (170 ) Total Income, including depreciation, from unconsolidated real estate funds presented in the consolidated statements of operations $ 3,174 $ 3,290 ___________________________________________________ (1) See Note 10 for our AOCI reconciliation. (2) See Note 2 regarding the ASU adoption. (3) We calculate our share by multiplying the total amount for each Fund by our equity interest in the respective Fund.
Schedule of Future Reclassifications from AOCI	At June 30, 2018 , our estimate of the AOCI related to derivatives designated as cash flow hedges, that will be reclassified to earnings during the next twelve months as interest rate swap payments are made is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 30,465 Unconsolidated Funds' derivatives (our share): Gains to be reclassified from AOCI to Income, including depreciation, from unconsolidated real estate funds $ 2,053

Equity (Tables)

Equity (Tables)	6 Months Ended
	Jun. 30, 2018
Stockholders' Equity Note [Abstract]
Condensed Consolidated Statements of Equity	The tables below present our condensed consolidated statements of equity: (In thousands) DEI Stockholders' Equity Noncontrolling Interests Total Equity Balance as of January 1, 2018 $ 2,437,524 $ 1,464,525 $ 3,902,049 Adjustment to opening balance of accumulated deficit (1) (211 ) — (211 ) Net income 59,890 9,774 69,664 Cash flow hedge fair value adjustments 44,387 18,976 63,363 Dividends and distributions (84,955 ) (26,114 ) (111,069 ) Exchange of OP units for common stock 5,481 (5,481 ) — OP Units redeemed with cash (59 ) (49 ) (108 ) Exercise of stock options (2) (314 ) — (314 ) Stock-based compensation — 6,912 6,912 Balance as of June 30, 2018 $ 2,461,743 $ 1,468,543 $ 3,930,286 __________________________________________________ (1) Reflects the adoption of ASU No. 2017-12. See Note 2 for details. (2) Reflects withholding taxes. We issued shares of our common stock for the exercise of stock options on a net settlement basis (net of the exercise price and related taxes). (In thousands) DEI Stockholders' Equity Noncontrolling Interests Total Equity Balance as of January 1, 2017 $ 1,921,143 $ 1,092,928 $ 3,014,071 Net income 39,293 4,640 43,933 Cash flow hedge fair value adjustments 5,715 (79 ) 5,636 Contributions to consolidated JV — 188,248 188,248 Dividends and distributions (72,194 ) (19,202 ) (91,396 ) Exchange of OP units for common stock 8,856 (8,856 ) — Exercise of stock options (1) (52,704 ) — (52,704 ) Stock-based compensation — 5,786 5,786 Sale of common stock, net of offering costs 276,961 — 276,961 Balance as of June 30, 2017 $ 2,127,070 $ 1,263,465 $ 3,390,535 __________________________________________________ (1) Reflects withholding taxes. We issued shares of our common stock for the exercise of stock options on a net settlement basis (net of the exercise price and related taxes).
Net Income Attributable to Common Stockholders and Transfers (to) from Noncontrolling Interests	The table below presents the effect on our equity from net income attributable to common stockholders and changes in our ownership interest in our Operating Partnership: Six Months Ended June 30, (In thousands) 2018 2017 Net income attributable to common stockholders $ 59,890 $ 39,293 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 5,481 8,856 Repurchase of OP Units from noncontrolling interests (59 ) — Net transfers from noncontrolling interests 5,422 8,856 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 65,312 $ 48,149
Schedule of Accumulated Other Comprehensive Income (Loss)	The table below presents a reconciliation of our AOCI, which consists solely of adjustments related to derivatives designated as cash flow hedges: Six Months Ended June 30, (In thousands) 2018 2017 Beginning balance $ 43,099 $ 15,156 Adoption of ASU 2017-12 - cumulative opening balance adjustment (2) 211 — Consolidated derivatives: Other comprehensive income (loss) before reclassifications 58,890 (4,016 ) Reclassification of (gains) losses from AOCI to Interest Expense (2,063 ) 8,955 Unconsolidated Funds' derivatives (our share): Other comprehensive income before reclassifications 6,404 867 Reclassification of gains from AOCI to Income, including depreciation, from unconsolidated real estate funds (79 ) (170 ) Net current period OCI 63,363 5,636 OCI attributable to noncontrolling interests (18,976 ) 79 OCI attributable to common stockholders 44,387 5,715 Ending balance $ 87,486 $ 20,871 ___________________________________________________ (1) See Note 9 for the details of our derivatives and Note 12 for our derivative fair value disclosures. (2) See Note 2 regarding our adoption of the ASU on January 1, 2018.

EPS (Tables)

EPS (Tables)	6 Months Ended
	Jun. 30, 2018
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below presents the calculation of basic and diluted EPS: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Numerator (In thousands): Net income attributable to common stockholders $ 31,684 $ 20,244 $ 59,890 $ 39,293 Allocation to participating securities: Unvested LTIP Units (156 ) (97 ) (294 ) (196 ) Numerator for basic and diluted net income attributable to common stock holders $ 31,528 $ 20,147 $ 59,596 $ 39,097 Denominator (In thousands): Weighted average shares of common stock outstanding - basic 169,916 155,898 169,759 154,203 Effect of dilutive securities: Stock options (1) 10 54 17 607 Weighted average shares of common stock and common stock equivalents outstanding - diluted 169,926 155,952 169,776 154,810 Basic EPS: Net income attributable to common stockholders per share $ 0.19 $ 0.13 $ 0.35 $ 0.25 Diluted EPS: Net income attributable to common stockholders per share $ 0.19 $ 0.13 $ 0.35 $ 0.25 ____________________________________________________ (1) The following securities were excluded from the calculation of diluted EPS because including them would be anti-dilutive to the calculation: Three Months Ended June 30, Six Months Ended June 30, (In thousands) 2018 2017 2018 2017 OP Units 26,637 24,797 26,790 24,730 Vested LTIP Units 807 313 803 536

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Schedule of Estimated Fair Value of Secured Notes Payable	The table below presents the estimated fair value of our secured notes payable: (In thousands) June 30, 2018 December 31, 2017 Fair value $ 4,090,917 $ 4,195,489 Carrying value $ 4,063,418 $ 4,156,499
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below presents the estimated fair value of our derivatives: (In thousands) June 30, 2018 December 31, 2017 Derivative Assets: Fair value - consolidated derivatives (1) $ 116,090 $ 60,069 Fair value - unconsolidated Funds' derivatives (2) $ 19,308 $ 9,437 Derivative Liabilities: Fair value - consolidated derivatives (1) $ — $ 807 Fair value - unconsolidated Funds' derivatives (2) $ — $ — ____________________________________________________ (1) Consolidated derivatives, which include 100% , not our pro-rata share, of our consolidated JVs' derivatives, are included in interest rate contracts in our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable in the consolidated balance sheets. (2) Reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. Our pro-rata share of the amounts related to the unconsolidated Funds' derivatives is included in our Investment in unconsolidated real estate funds in our consolidated balance sheets. See Note 16 regarding our unconsolidated Funds debt and derivatives.

Segment Reporting (Tables)

Segment Reporting (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Summary of Operating Activity of Reportable Segments	The table below presents the operating activity of our reportable segments: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Office Segment Total office revenues $ 193,761 $ 175,542 $ 381,094 $ 345,890 Office expenses (61,818 ) (57,887 ) (122,174 ) (112,772 ) Office segment profit 131,943 117,655 258,920 233,118 Multifamily Segment Total multifamily revenues 25,708 24,090 50,622 48,223 Multifamily expenses (6,908 ) (5,878 ) (13,606 ) (11,825 ) Multifamily segment profit 18,800 18,212 37,016 36,398 Total profit from all segments $ 150,743 $ 135,867 $ 295,936 $ 269,516
Reconciliation of Segment Profit to Net Income Attributable to Common Stockholders	The table below presents a reconciliation of the total profit from all segments to net income attributable to common stockholders: (In thousands) Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total profit from all segments $ 150,743 $ 135,867 $ 295,936 $ 269,516 General and administrative (9,437 ) (8,592 ) (19,004 ) (18,748 ) Depreciation and amortization (73,379 ) (68,793 ) (145,877 ) (136,167 ) Other income 2,792 2,331 5,422 4,493 Other expenses (2,086 ) (1,773 ) (3,819 ) (3,497 ) Income, including depreciation, from unconsolidated real estate funds 1,668 1,113 3,174 3,290 Interest expense (33,268 ) (38,000 ) (66,168 ) (74,954 ) Net income 37,033 22,153 69,664 43,933 Less: Net income attributable to noncontrolling interests (5,349 ) (1,909 ) (9,774 ) (4,640 ) Net income attributable to common stockholders $ 31,684 $ 20,244 $ 59,890 $ 39,293

Future Minimum Lease Rental R36

Future Minimum Lease Rental Receipts (Tables)	6 Months Ended
	Jun. 30, 2018
Operating Leases, Future Minimum Payments Receivable [Abstract]
Schedule of Future Minimum Base Rentals on Non-Cancelable Office and Ground Operating Leases	The table below presents the future minimum base rentals on our non-cancelable office tenant and ground leases at June 30, 2018 : Twelve months ending June 30: (In thousands) 2019 $ 563,563 2020 527,436 2021 456,384 2022 364,772 2023 291,970 Thereafter 670,467 Total future minimum base rentals (1) $ 2,874,592 _____________________________________________________ (1) Does not include (i) residential leases, which typically have a term of one year or less, (ii) holdover rent, (iii) other types of rent such as storage and antenna rent, (iv) tenant reimbursements, (v) straight- line rent, (vi) amortization/accretion of acquired above/below-market lease intangibles and (vii) percentage rents. The amounts assume that early termination options held by tenants are not exercised.

Future Minimum Lease Rental P37

Future Minimum Lease Rental Payments (Tables)	6 Months Ended
	Jun. 30, 2018
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Schedule of Future Minimum Ground Lease Payments	The table below, which assumes that the ground rent payments will continue to be $733 thousand per year after February 28, 2019 , presents the future minimum ground lease payments as of June 30, 2018 : Twelve months ending June 30: (In thousands) 2019 $ 733 2020 733 2021 733 2022 733 2023 733 Thereafter 46,544 Total future minimum lease payments $ 50,209

Commitments, Contingencies an38

Commitments, Contingencies and Guarantees (Tables)	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
Schedule of Debt Related to Unconsolidated Funds	The table below summarizes our Funds' debt as of June 30, 2018 . The amounts represent 100% (not our pro-rata share) of the amounts related to our Funds: Fund (1) Loan Maturity Date Principal Balance (In Millions) Variable Interest Rate Swap Fixed Interest Rate Swap Maturity Date Partnership X (2)(4) 3/1/2023 $ 110.0 LIBOR + 1.40% 2.30% 3/1/2021 Fund X (3)(4)(5) 7/1/2024 400.0 LIBOR + 1.65% 3.44% 7/1/2022 $ 510.0 ___________________________________________________ (1) See Note 5 for more information regarding our unconsolidated Funds. (2) Floating rate term loan, swapped to fixed, which is secured by two properties and requires monthly payments of interest only, with the outstanding principal due upon maturity. As of June 30, 2018 , assuming a zero-percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $2.7 million . (3) Floating rate term loan, swapped to fixed, which is secured by six properties and requires monthly payments of interest only, with the outstanding principal due upon maturity. As of June 30, 2018 , assuming a zero-percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $29.1 million . (4) Loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (5) Loan agreement includes the requirement to purchase an interest rate cap if one month LIBOR equals or exceeds 3.56% for fourteen consecutive days after the related swap matures.

Overview - Narrative (Details)

Overview - Narrative (Details) ft² in Millions, $ in Millions	Jun. 30, 2018USD ($)ft²land_parcelunit
Real Estate Properties [Line Items]
Variable interest entity, assets	$ 8,320
Variable interest entity, assets related to real estate held for investment	7,790
Variable interest entity, liabilities	4,390
Variable interest entity, equity	3,930
Variable interest entity, equity, portion attributable to noncontrolling interest	$ 1,470
Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Number of land parcels subject to ground lease | land_parcel	2
Wholly owned and Consolidated properties | Office
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	16.6
Wholly owned and Consolidated properties | Multifamily
Real Estate Properties [Line Items]
Number of units in real estate portfolio | unit	3,522
Unconsolidated Fund properties | Office
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	1.8

Overview - Schedule of Properti

Overview - Schedule of Properties Portfolio (Details) - Jun. 30, 2018	office_property	property
Real Estate Properties [Line Items]
Number of properties		81
Reportable Legal Entities
Real Estate Properties [Line Items]
Number of properties		73
Office
Real Estate Properties [Line Items]
Number of properties		71
Office | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties		53
Office | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties		10
Office | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Number of properties	8	8
Office | Reportable Legal Entities
Real Estate Properties [Line Items]
Number of properties		63
Office | Reportable Legal Entities | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties		53
Office | Reportable Legal Entities | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties		10
Office | Reportable Legal Entities | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Number of properties		0
Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties		10
Multifamily | Reportable Legal Entities | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties		10

Summary of Significant Accoun41

Summary of Significant Accounting Policies - New Accounting Pronouncements (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018	Dec. 31, 2017
New Accounting Pronouncements [Line Items]
Parking revenue	$ 25,700	$ 24,000	$ 50,800	$ 47,200
Parking receivables	$ 1,000		$ 1,000			$ 1,000
AOCI
New Accounting Pronouncements [Line Items]
Cumulative effect adjustment related to adoption of new accounting standard					$ 211
ASU No. 2017-12 | AOCI
New Accounting Pronouncements [Line Items]
Cumulative effect adjustment related to adoption of new accounting standard					211
ASU No. 2017-12 | Accumulated Deficit
New Accounting Pronouncements [Line Items]
Cumulative effect adjustment related to adoption of new accounting standard					$ (211)

Investment in Real Estate - Pro

Investment in Real Estate - Property Previously Held For Sale (Details) ft² in Thousands	Mar. 31, 2018ft²
Property Held for Sale | Class A Office Property and Health Club Honolulu | Office Building
Property Previously Held-for-sale [Line Items]
Area of real estate property previously held for sale (sqft)	80

Investment in Real Estate - Pur

Investment in Real Estate - Purchase Price Allocation for Acquisitions (Details) - Consolidated JV ft² in Thousands, $ in Thousands	Apr. 25, 2017USD ($)ft²property
1299 Ocean
Real Estate Acquisition [Line Items]
Contract price	$ 275,800
Building square footage | ft²	206
Investment in real estate:
Land	$ 22,748
Buildings and improvements	260,188
Tenant improvements and lease intangibles	5,010
Acquired above- and below-market leases, net	(10,683)
Net assets and liabilities acquired	277,263
429 Santa Monica
Real Estate Acquisition [Line Items]
Contract price	$ 77,000
Building square footage | ft²	87
Investment in real estate:
Land	$ 4,949
Buildings and improvements	69,286
Tenant improvements and lease intangibles	3,248
Acquired above- and below-market leases, net	(722)
Net assets and liabilities acquired	$ 76,761
Office
Real Estate Acquisition [Line Items]
Number of properties acquired | property	2

Acquired Lease Intangibles - Su

Acquired Lease Intangibles - Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 3,741	$ 4,293
Acquired lease intangible liabilities, net	62,789	75,635
Above Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	5,997	7,177
Accumulated amortization	(3,209)	(3,846)
Below Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, liabilities	118,707	127,606
Accumulated accretion	(59,350)	(55,428)
Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	1,152	1,152
Accumulated amortization	(199)	(190)
Off-market lease, liabilities	4,017	4,017
Accumulated accretion	$ (585)	$ (560)

Acquired Lease Intangibles - Im

Acquired Lease Intangibles - Impact on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ 6,143	$ 4,284	$ 12,295	$ 8,476
Operating Lease Revenue | Tenant Lease
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	6,134	4,275	12,277	8,458
Office Parking and Other Income | Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	(4)	(4)	(8)	(8)
Office Expense | Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ 13	$ 13	$ 26	$ 26

Investments in Unconsolidated46

Investments in Unconsolidated Real Estate Funds - Narrative (Details) - 6 months ended Jun. 30, 2018 ft² in Millions	ft²fund	Total	office_property	property
Schedule of Equity Method Investments [Line Items]
Number of properties				81
Percentage of amounts related to the Fund		100.00%
Opportunity Fund
Schedule of Equity Method Investments [Line Items]
Equity interest of the Fund, percent		6.20%
Fund X
Schedule of Equity Method Investments [Line Items]
Equity interest of the Fund, percent		69.40%
Partnership X
Schedule of Equity Method Investments [Line Items]
Equity interest of the Fund, percent		24.30%
Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of real estate funds owned and managed | fund	3
Office Building
Schedule of Equity Method Investments [Line Items]
Number of properties				71
Office Building | Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of properties			8	8
Area of real estate portfolio (sq ft) | ft²	1.8

Investments in Unconsolidated47

Investments in Unconsolidated Real Estate Funds - Summary of Cash Distributions Received from Funds (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Real Estate Investments, Net [Abstract]
Operating distributions received	$ 3,174	$ 3,290
Capital distributions received	3,774	39,962
Total distributions received	$ 6,948	$ 43,252

Investments in Unconsolidated48

Investments in Unconsolidated Real Estate Funds - Summary of Statement of Financial Position for Investments in Unconsolidated Real Estate Funds (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Real Estate Investments, Net [Abstract]
Total assets	$ 708,436	$ 704,186
Total liabilities	525,144	523,767
Total equity	$ 183,292	$ 180,419

Investments in Unconsolidated49

Investments in Unconsolidated Real Estate Funds - Summary of Statement of Operations for Investments in Unconsolidated Real Estate Funds (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Real Estate Investments, Net [Abstract]
Total revenues	$ 38,963	$ 37,071
Operating income	11,504	9,723
Net income	$ 3,180	$ 2,853

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Other Assets [Abstract]
Restricted cash	$ 121	$ 121
Prepaid expenses	2,952	9,235
Other indefinite-lived intangibles	1,988	1,988
Furniture, fixtures and equipment, net	839	1,155
Other	6,099	5,943
Total other assets	$ 11,999	$ 18,442

Secured Notes Payable and Rev51

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Secured Notes Payable and Revolving Credit Facility (Details) - USD ($)	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Principal Balance	$ 4,140,329,000	$ 4,152,308,000
Unamortized loan premium, net	4,089,000	4,191,000
Deferred loan costs, net	(37,923,000)	(39,109,000)
Total Consolidated Debt, Net	4,106,495,000	4,117,390,000
Revolving Credit Facility With Maturity Date of August 21, 2020
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 400,000,000
Revolving Credit Facility With Maturity Date of August 21, 2020 | Minimum
Debt Instrument [Line Items]
Unused commitment fees (as a percent)	0.15%
Revolving Credit Facility With Maturity Date of August 21, 2020 | Maximum
Debt Instrument [Line Items]
Unused commitment fees (as a percent)	0.20%
Secured Debt | LIBOR | Minimum
Debt Instrument [Line Items]
Basis Spread on Variable Rate	0.00%
Secured Debt | Term Loan With Maturity Date of June 1, 2038
Debt Instrument [Line Items]
Fixed Rate Debt Amortization Period	30 years
Wholly Owned Subsidiaries
Debt Instrument [Line Items]
Principal Balance	$ 3,160,329,000	3,172,308,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 4.00%
Debt Instrument [Line Items]
Principal Balance	0	146,974,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.85%
Debt Instrument [Line Items]
Principal Balance	$ 0	280,721,000
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan With Maturity Date of October 1, 2019
Debt Instrument [Line Items]
Maturity Date	Oct. 1, 2019
Principal Balance	$ 145,000,000	145,000,000
Variable Interest Rate	LIBOR + 1.25%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan With Maturity Date of October 1, 2019 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.25%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.77%
Debt Instrument [Line Items]
Maturity Date	Apr. 15, 2022
Principal Balance	$ 340,000,000	340,000,000
Variable Interest Rate	LIBOR + 1.40%
Fixed Interest Rate	2.77%
Swap Maturity Date	Apr. 1, 2020
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.77% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.40%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.06%
Debt Instrument [Line Items]
Maturity Date	Jul. 27, 2022
Principal Balance	$ 180,000,000	180,000,000
Variable Interest Rate	LIBOR + 1.45%
Fixed Interest Rate	3.06%
Swap Maturity Date	Jul. 1, 2020
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.06% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.45%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.64%
Debt Instrument [Line Items]
Maturity Date	Nov. 1, 2022
Principal Balance	$ 400,000,000	400,000,000
Variable Interest Rate	LIBOR + 1.35%
Fixed Interest Rate	2.64%
Swap Maturity Date	Nov. 1, 2020
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.64% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.35%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.57%
Debt Instrument [Line Items]
Maturity Date	Jun. 23, 2023
Principal Balance	$ 360,000,000	360,000,000
Variable Interest Rate	LIBOR + 1.55%
Fixed Interest Rate	2.57%
Swap Maturity Date	Jul. 1, 2021
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 2.57% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.55%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.62%
Debt Instrument [Line Items]
Maturity Date	Dec. 23, 2023
Principal Balance	$ 220,000,000	220,000,000
Variable Interest Rate	LIBOR + 1.70%
Fixed Interest Rate	3.62%
Swap Maturity Date	Dec. 23, 2021
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.62% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.70%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.46%
Debt Instrument [Line Items]
Maturity Date	Jan. 1, 2024
Principal Balance	$ 300,000,000	300,000,000
Variable Interest Rate	LIBOR + 1.55%
Fixed Interest Rate	3.46%
Swap Maturity Date	Jan. 1, 2022
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.46% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.55%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.84%
Debt Instrument [Line Items]
Maturity Date	Mar. 3, 2025
Principal Balance	$ 335,000,000	0
Variable Interest Rate	LIBOR + 1.30%
Fixed Interest Rate	3.84%
Swap Maturity Date	Mar. 1, 2023
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Effective Annual Fixed Interest Rate At 3.84% | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.30%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan With Maturity Date of April 1, 2025
Debt Instrument [Line Items]
Maturity Date	Apr. 1, 2025
Principal Balance	$ 102,400,000	102,400,000
Variable Interest Rate	LIBOR + 1.25%
Fixed Interest Rate	2.84%
Swap Maturity Date	Mar. 1, 2020
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan With Maturity Date of April 1, 2025 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.25%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loans With Maturity Date of December 1, 2025
Debt Instrument [Line Items]
Maturity Date	Dec. 1, 2025
Principal Balance	$ 115,000,000	115,000,000
Variable Interest Rate	LIBOR + 1.25%
Fixed Interest Rate	2.76%
Swap Maturity Date	Dec. 1, 2020
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loans With Maturity Date of December 1, 2025 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.25%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loans With Maturity Date of June 1, 2027
Debt Instrument [Line Items]
Maturity Date	Jun. 1, 2027
Principal Balance	$ 550,000,000	550,000,000
Variable Interest Rate	LIBOR + 1.37%
Fixed Interest Rate	3.16%
Swap Maturity Date	Jun. 1, 2022
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loans With Maturity Date of June 1, 2027 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.37%
Wholly Owned Subsidiaries | Secured Debt | Term Loan With Maturity Date of June 1, 2038
Debt Instrument [Line Items]
Maturity Date	Jun. 1, 2038
Principal Balance	$ 31,929,000	32,213,000
Fixed Interest Rate	4.55%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility With Maturity Date of August 21, 2020
Debt Instrument [Line Items]
Maturity Date	Aug. 21, 2020
Principal Balance	$ 81,000,000	0
Variable Interest Rate	LIBOR + 1.40%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility With Maturity Date of August 21, 2020 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.40%
Consolidated JV | Secured Debt | Term Loan With Maturity Date of February 28, 2023
Debt Instrument [Line Items]
Maturity Date	Feb. 28, 2023
Principal Balance	$ 580,000,000	580,000,000
Variable Interest Rate	LIBOR + 1.40%
Fixed Interest Rate	2.37%
Swap Maturity Date	Mar. 1, 2021
Consolidated JV | Secured Debt | Term Loan With Maturity Date of February 28, 2023 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.40%
Consolidated JV | Secured Debt | Term Loan With Maturity Date of December 19, 2024
Debt Instrument [Line Items]
Maturity Date	Dec. 19, 2024
Principal Balance	$ 400,000,000	$ 400,000,000
Variable Interest Rate	LIBOR + 1.30%
Fixed Interest Rate	3.47%
Swap Maturity Date	Jan. 1, 2023
Consolidated JV | Secured Debt | Term Loan With Maturity Date of December 19, 2024 | LIBOR
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.30%

Secured Notes Payable and Rev52

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Debt Statistics (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Dec. 31, 2017
Debt Disclosure [Abstract]
Principal balance of consolidated fixed rate debt	$ 3,910,000
Weighted average remaining life (including extension options) of consolidated fixed rate debt (in years)	5 years 11 months
Weighted average remaining fixed interest period of consolidated fixed rate debt (in years)	3 years 2 months
Weighted average annual interest rate of consolidated fixed rate debt (as a percent)	3.07%
Debt Instrument [Line Items]
Principal Balance	$ 4,140,329	$ 4,152,308
Aggregate Swapped to Fixed Rate Loans
Debt Instrument [Line Items]
Principal Balance	3,882,400	3,547,400
Aggregate Fixed Rate Loans
Debt Instrument [Line Items]
Principal Balance	31,929	459,908
Aggregate Floating Rate Loans
Debt Instrument [Line Items]
Principal Balance	$ 226,000	$ 145,000

Secured Notes Payable and Rev53

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Minimum Future Principal Payments (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Excluding Maturity Extension Options
2,019	$ 702
2,020	145,735
2,021	376,769
2,022	640,805
2,023	1,675,842
Thereafter	1,300,476
Total future principal payments	4,140,329	$ 4,152,308
Including Maturity Extension Options
2,019	702
2,020	145,735
2,021	81,769
2,022	340,805
2,023	1,520,842
Thereafter	2,050,476
Total future principal payments	$ 4,140,329	$ 4,152,308

Secured Notes Payable and Rev54

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Loan Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Debt Disclosure [Abstract]
Accumulated amortization on deferred loan costs	$ 20,200		$ 20,200		$ 18,000
Loan Costs Included In Interest Expense
Deferred loan cost amortization			4,279	$ 4,522
Interest Expense
Loan Costs Included In Interest Expense
Loan costs expensed	0	$ 376	404	376
Deferred loan cost amortization	1,970	2,424	3,875	4,522
Total	$ 1,970	$ 2,800	$ 4,279	$ 4,898

Interest Payable, Accounts Pa55

Interest Payable, Accounts Payable and Deferred Revenue - Summary of Balances (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounts Payable and Accrued Liabilities [Abstract]
Interest payable	$ 10,592	$ 9,829
Accounts payable and accrued liabilities	75,748	62,741
Deferred revenue	39,079	31,377
Total interest payable, accounts payable and deferred revenue	$ 125,419	$ 103,947

Derivative Contracts - Summary

Derivative Contracts - Summary of Derivatives (Details) - Interest Rate Swap - Derivatives Designated as Cash Flow Hedges - Cash Flow Hedging $ in Thousands	Jun. 30, 2018USD ($)instrument
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	27
Notional | $	$ 3,882,400
Percent of notional amount related to the Fund	100.00%
Unconsolidated Funds
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	4
Notional | $	$ 510,000
Percent of notional amount related to the Fund	100.00%

Derivative Contracts - Counterp

Derivative Contracts - Counterparty Credit Risk (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 116,090	$ 60,069
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 117,876	60,093
Percent of notional amount related to the Fund	100.00%
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging | Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 19,582	$ 9,350
Percent of notional amount related to the Fund	100.00%

Derivative Contracts - Impact o

Derivative Contracts - Impact of Hedges on AOCI and Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Derivative [Line Items]
Gain recorded in AOCI - adoption of ASU 2017-12			$ 211	$ 0
Gain (loss) recorded in AOCI			58,890	(4,016)
Interest expense	$ (33,268)	$ (38,000)	(66,168)	(74,954)
Income, including depreciation, from unconsolidated real estate funds	$ 1,668	$ 1,113	3,174	3,290
Unconsolidated Funds
Derivative [Line Items]
Gain (loss) recorded in AOCI			6,404	867
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges
Derivative [Line Items]
Gain recorded in AOCI - adoption of ASU 2017-12			211	0
Gain (loss) recorded in AOCI			58,890	(4,016)
Gain (loss) reclassified from AOCI			(2,063)	8,955
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges | Interest Expense
Derivative [Line Items]
Gain related to ineffectiveness recorded in Interest Expense			0	25
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges | Unconsolidated Funds
Derivative [Line Items]
Gain (loss) recorded in AOCI			6,404	867
Gain (loss) reclassified from AOCI			$ (79)	$ (170)

Derivative Contracts - Future R

Derivative Contracts - Future Reclassifications from AOCI (Details) $ in Thousands	Jun. 30, 2018USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Derivative designated as cash flow hedge to be reclassified	$ 30,465
Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Derivative designated as cash flow hedge to be reclassified	$ 2,053

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Number of OP Units converted to shares of common stock (shares)			339,000	659,000
Number of OP units redeemed (shares)			3,000
OP Units redeemed with cash			$ 108
Shares of common stock issued for exercise of stock options (shares)			14,000	1,300,000
Number of stock options exercised (shares)	0	0	32,000	3,900,000
Common stock, outstanding (in shares)	169,917,966		169,917,966		169,564,927
Number of OP units and fully-vested LTIP units outstanding			27,400,000
Number of shares of common stock issued upon redemption of one OP unit (shares)			1
Issuance of common stock (shares)				9,100,000
Net proceeds on issuance of common stock				$ 346,000
Partnership Interest
Schedule of Equity Method Investments [Line Items]
Investors' ownership in joint venture (percent)	14.00%		14.00%

Equity - Condensed Consolidated

Equity - Condensed Consolidated Statements of Equity (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Douglas Emmett, Inc. Stockholders' Equity, Beginning Balance			$ 2,437,524
Noncontrolling Interests, Beginning Balance			1,464,525
Beginning Balance			3,902,049	$ 3,014,071
Adjustment to opening balance of accumulated deficit			(211)
Net income attributable to common stockholders	$ 31,684	$ 20,244	59,890	39,293
Noncontrolling Interests, Net Income	5,349	1,909	9,774	4,640
Net income	37,033	22,153	69,664	43,933
Cash flow hedge fair value adjustment, total equity	18,994	(4,193)	63,363	5,636
Contributions to consolidated JVs				188,248
Dividends and distributions, Douglas Emmett, Inc. Stockholders' Equity			(84,955)	(72,194)
Dividends and distributions, total equity			(111,069)	(91,396)
Exchange of OP units for common stock			0	0
OP Units redeemed with cash			(108)
Exercise of stock options(2)			(314)	(52,704)
Stock-based compensation, total equity			6,912	5,786
Sale of common stock, net of offering costs				276,961
Douglas Emmett, Inc. Stockholders' Equity, Ending Balance	2,461,743		2,461,743
Noncontrolling Interests, Ending Balance	1,468,543		1,468,543
Ending Balance	3,930,286	3,390,535	3,930,286	3,390,535
DEI Stockholders' Equity
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Douglas Emmett, Inc. Stockholders' Equity, Beginning Balance			2,437,524	1,921,143
Adjustment to opening balance of accumulated deficit			(211)
Net income attributable to common stockholders			59,890	39,293
Cash flow hedge fair value adjustment, Douglas Emmett, Inc. Stockholders' Equity			44,387	5,715
Contributions to consolidated JVs				0
Dividends and distributions, Douglas Emmett, Inc. Stockholders' Equity			(84,955)	(72,194)
Exchange of OP units for common stock			5,481	8,856
OP Units redeemed with cash			(59)
Exercise of stock options(2)			(314)	(52,704)
Stock-based compensation, Douglas Emmett Stockholders' Equity			0	0
Sale of common stock, net of offering costs				276,961
Douglas Emmett, Inc. Stockholders' Equity, Ending Balance	2,461,743	2,127,070	2,461,743	2,127,070
Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Noncontrolling Interests, Beginning Balance			1,464,525	1,092,928
Adjustment to opening balance of accumulated deficit			0
Noncontrolling Interests, Net Income			9,774	4,640
Cash flow hedge fair value adjustment, noncontrolling interest			18,976	(79)
Contributions to consolidated JVs				188,248
Dividends and distributions, noncontrolling interest			(26,114)	(19,202)
Exchange of OP units for common stock			(5,481)	(8,856)
OP Units redeemed with cash			(49)
Exercise of stock options(2)			0	0
Stock-based compensation, noncontrolling interest			6,912	5,786
Sale of common stock, net of offering costs				0
Noncontrolling Interests, Ending Balance	$ 1,468,543	$ 1,263,465	$ 1,468,543	$ 1,263,465

Equity - Net Income Attributabl

Equity - Net Income Attributable to Common Stockholders and Transfers (to) from Noncontrolling Interests (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Net income attributable to common stockholders	$ 31,684	$ 20,244	$ 59,890	$ 39,293
Transfers from noncontrolling interests:
Exchange of OP Units with noncontrolling interests			5,481	8,856
Repurchase of OP Units from noncontrolling interests			(59)	0
Net transfers from noncontrolling interests			5,422	8,856
Change from net income attributable to common stockholders and transfers from noncontrolling interests			$ 65,312	$ 48,149

Equity - AOCI Reconciliation (D

Equity - AOCI Reconciliation (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jan. 01, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	$ 3,902,049	$ 3,014,071
Net current period OCI	63,363	5,636
OCI attributable to noncontrolling interests	(18,976)	79
OCI attributable to common stockholders	44,387	5,715
Ending Balance	3,930,286	3,390,535
AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning Balance	43,099	15,156
Adoption of ASU 2017-12 - cumulative opening balance adjustment			$ 211
Ending Balance	87,486	20,871
Accumulated Net Gain (Loss) from Cash Flow Hedges
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	58,890	(4,016)
Reclassification of (gains) losses from AOCI	(2,063)	8,955
Accumulated Net Gain (Loss) from Cash Flow Hedges | Fund X
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income (loss) before reclassifications	6,404	867
Reclassification of (gains) losses from AOCI	$ (79)	$ (170)

Equity - Equity Compensation (D

Equity - Equity Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Stockholders' Equity Note [Abstract]
Net stock-based compensation expense	$ 2,900	$ 2,600	$ 5,964	$ 5,311
Capitalized stock-based compensation for improvements to real estate and developments	$ 496	$ 247	$ 948	$ 475
Number of stock options exercised (shares)	0	0	32,000	3,900,000
Intrinsic value of options exercised			$ 803	$ 102,100

EPS - Summary of EPS Computatio

EPS - Summary of EPS Computation (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 31,684	$ 20,244	$ 59,890	$ 39,293
Allocation to participating securities: Unvested LTIP Units	(156)	(97)	(294)	(196)
Numerator for basic and diluted net income attributable to common stock holders	$ 31,528	$ 20,147	$ 59,596	$ 39,097
Weighted average shares of common stock outstanding - basic (in shares)	169,916	155,898	169,759	154,203
Effect of dilutive securities: Stock options (in shares)	10	54	17	607
Weighted average shares of common stock and common stock equivalents outstanding - diluted (in shares)	169,926	155,952	169,776	154,810
Basic EPS:
Net income attributable to common stockholders per share (usd per share)	$ 0.19	$ 0.13	$ 0.35	$ 0.25
Diluted EPS:
Net income attributable to common stockholders per share (usd per share)	$ 0.19	$ 0.13	$ 0.35	$ 0.25
Operating Partnership Units and Vested LTIP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of weighted average diluted shares (in shares)	26,637	24,797	26,790	24,730
Vested LTIP Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Anti-dilutive securities excluded from the computation of weighted average diluted shares (in shares)	807	313	803	536

Fair Value of Financial Instr66

Fair Value of Financial Instruments - Estimated Fair Value of Secured Notes Payable (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Estimate of Fair Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	$ 4,090,917	$ 4,195,489
Reported Value Measurement
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	$ 4,063,418	$ 4,156,499

Fair Value of Financial Instr67

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Derivative Assets:
Fair value - derivatives	$ 116,090	$ 60,069
Derivative Liabilities:
Fair value - derivatives	$ 0	807
Fund X | Interest Rate Swap
Derivative Liabilities:
Percent of notional amount related to the Fund	100.00%
Level 2
Derivative Assets:
Fair value - derivatives	$ 116,090	60,069
Derivative Liabilities:
Fair value - derivatives	0	807
Level 2 | Fund X
Derivative Assets:
Fair value - unconsolidated Funds' derivatives	19,308	9,437
Derivative Liabilities:
Fair value - unconsolidated Funds' derivatives	$ 0	$ 0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	6 Months Ended
	Jun. 30, 2018segment
Segment Reporting [Abstract]
Number of reportable business segments	2

Segment Reporting - Operating A

Segment Reporting - Operating Activity Within Reportable Segments (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total revenues	$ 219,469	$ 199,632	$ 431,716	$ 394,113
Segment profit	150,743	135,867	295,936	269,516
Office Segment
Segment Reporting Information [Line Items]
Total revenues	193,761	175,542	381,094	345,890
Expenses	(61,818)	(57,887)	(122,174)	(112,772)
Segment profit	131,943	117,655	258,920	233,118
Multifamily Segment
Segment Reporting Information [Line Items]
Total revenues	25,708	24,090	50,622	48,223
Expenses	(6,908)	(5,878)	(13,606)	(11,825)
Segment profit	$ 18,800	$ 18,212	$ 37,016	$ 36,398

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Profit to Net Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting [Abstract]
Total profit from all segments	$ 150,743	$ 135,867	$ 295,936	$ 269,516
General and administrative	(9,437)	(8,592)	(19,004)	(18,748)
Depreciation and amortization	(73,379)	(68,793)	(145,877)	(136,167)
Other income	2,792	2,331	5,422	4,493
Other expenses	(2,086)	(1,773)	(3,819)	(3,497)
Income, including depreciation, from unconsolidated real estate funds	1,668	1,113	3,174	3,290
Interest expense	(33,268)	(38,000)	(66,168)	(74,954)
Net income	37,033	22,153	69,664	43,933
Less: Net income attributable to noncontrolling interests	(5,349)	(1,909)	(9,774)	(4,640)
Net income attributable to common stockholders	$ 31,684	$ 20,244	$ 59,890	$ 39,293

Future Minimum Lease Rental R71

Future Minimum Lease Rental Receipts - Summary of Minimum Rental Receipts (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)land_parcel
Real Estate Properties [Line Items]
2,019	$ 563,563
2,020	527,436
2,021	456,384
2,022	364,772
2,023	291,970
Thereafter	670,467
Total future minimum base rentals	$ 2,874,592
Term of residential leases	1 year
Wholly-owned properties
Real Estate Properties [Line Items]
Number of land parcels | land_parcel	2

Future Minimum Lease Rental P72

Future Minimum Lease Rental Payments - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
Ground lease payments	$ 183	$ 183	$ 366	$ 366

Future Minimum Lease Rental P73

Future Minimum Lease Rental Payments - Summary of Ground Lease Payments (Details) $ in Thousands	Jun. 30, 2018USD ($)
Operating Leases, Future Minimum Payments Due, Fiscal Year Maturity [Abstract]
2,019	$ 733
2,020	733
2,021	733
2,022	733
2,023	733
Thereafter	46,544
Total future minimum lease payments	50,209
Future ground rent payments per year	$ 733

Commitments, Contingencies an74

Commitments, Contingencies and Guarantees - Narrative (Details)	6 Months Ended	12 Months Ended
	Jun. 30, 2018USD ($)apartmentbuilding	Dec. 31, 2016apartment
Loss Contingencies [Line Items]
Number of properties containing Asbestos | building	28
Contractual amount for development project | $	$ 46,600,000
Development Projects
Loss Contingencies [Line Items]
Contractual amount for development project | $	$ 230,600,000
Development Projects | Hawaii
Loss Contingencies [Line Items]
Number of apartments under construction | apartment		475
Number of apartments leased | apartment	194
Development Projects | California
Loss Contingencies [Line Items]
Expected number of apartments to be constructed | apartment	376
Maximum
Loss Contingencies [Line Items]
Amount accounts are insured for by Federal Deposit Insurance Corporation | $	$ 250,000
Unconsolidated Funds
Loss Contingencies [Line Items]
Number of properties containing Asbestos | building	4

Commitments, Contingencies an75

Commitments, Contingencies and Guarantees - Schedule of Debt Related to Unconsolidated Funds (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2018USD ($)property	Dec. 31, 2017USD ($)
Debt Instrument [Line Items]
Principal Balance	$ 4,106,495	$ 4,117,390
Partnership X
Debt Instrument [Line Items]
Loan Maturity Date	Mar. 1, 2023
Principal Balance	$ 110,000
Collateral, number of properties | property	2
Maximum future payments under the swap agreement	$ 2,700
Partnership X | Interest Rate Swap
Debt Instrument [Line Items]
Variable Interest Rate - basis spread	1.40%
Swap Fixed Interest Rate	2.30%
Swap Maturity Date	Mar. 1, 2021
Fund X
Debt Instrument [Line Items]
Loan Maturity Date	Jul. 1, 2024
Principal Balance	$ 400,000
Collateral, number of properties | property	6
Maximum future payments under the swap agreement	$ 29,100
Loan agreement, one month LIBOR maximum for interest rate cap requirement	3.56%
Loan agreement, number of consecutive days	14 days
Fund X | Interest Rate Swap
Debt Instrument [Line Items]
Variable Interest Rate - basis spread	1.65%
Swap Fixed Interest Rate	3.44%
Swap Maturity Date	Jul. 1, 2022
Unconsolidated Funds
Debt Instrument [Line Items]
Principal Balance	$ 510,000
LIBOR | Partnership X
Debt Instrument [Line Items]
Loan agreement LIBOR floor	0.00%
LIBOR | Fund X
Debt Instrument [Line Items]
Loan agreement LIBOR floor	0.00%