Douglas Emmett (DEI) 10-Q 8 Nov 19 2019 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2019	Nov. 01, 2019
Cover page.
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2019
Document Transition Report	false
Entity File Number	001-33106
Entity Registrant Name	Douglas Emmett, Inc.
Entity Central Index Key	0001364250
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-3073047
Entity Address, Address Line One	1299 Ocean Avenue, Suite 1000
Entity Address, City or Town	Santa Monica
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90401
City Area Code	310
Local Phone Number	255-7700
Title of 12(b) Security	Common Stock, $0.01 par value per share
Trading Symbol	DEI
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		175,349,297

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Investment in real estate:
Land	$ 1,100,412	$ 1,065,099
Buildings and improvements	8,454,991	7,995,203
Tenant improvements and lease intangibles	850,124	840,653
Property under development	85,288	129,753
Investment in real estate, gross	10,490,815	10,030,708
Less: accumulated depreciation and amortization	(2,433,974)	(2,246,887)
Investment in real estate, net	8,056,841	7,783,821
Ground lease right-of-use asset	7,481
Cash and cash equivalents	181,510	146,227
Tenant receivables	5,113	4,371
Deferred rent receivables	134,132	124,834
Acquired lease intangible assets, net	2,877	3,251
Interest rate contract assets	11,925	73,414
Investment in unconsolidated Funds	102,280	111,032
Other assets	18,736	14,759
Total Assets	8,520,895	8,261,709
Liabilities
Secured notes payable and revolving credit facility, net	4,176,967	4,134,030
Ground lease liability	10,884
Interest payable, accounts payable and deferred revenue	134,944	130,154
Security deposits	51,945	50,733
Acquired lease intangible liabilities, net	38,384	52,569
Interest rate contract liabilities	78,111	1,530
Dividends payable	45,598	44,263
Total liabilities	4,536,833	4,413,279
Douglas Emmett, Inc. stockholders' equity:
Common Stock, $0.01 par value, 750,000,000 authorized, 175,348,468 and 170,214,809 outstanding at September 30, 2019 and December 31, 2018, respectively	1,753	1,702
Additional paid-in capital	3,486,025	3,282,316
Accumulated other comprehensive (loss) income	(48,878)	53,944
Accumulated deficit	(988,030)	(935,630)
Total Douglas Emmett, Inc. stockholders' equity	2,450,870	2,402,332
Noncontrolling interests	1,533,192	1,446,098
Total equity	3,984,062	3,848,430
Total Liabilities and Equity	$ 8,520,895	$ 8,261,709

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Sep. 30, 2019	Dec. 31, 2018
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)	175,348,468	170,214,809

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues
Revenues	$ 238,069	$ 223,336	$ 692,789	$ 655,052
Operating Expenses
General and administrative expenses	9,218	9,440	28,209	28,444
Depreciation and amortization	90,279	74,067	248,876	219,944
Total operating expenses	177,378	156,937	497,990	457,598
Operating income	60,691	66,399	194,799	197,454
Other income	2,952	2,951	8,742	8,373
Other expenses	(1,656)	(1,561)	(5,308)	(5,380)
Income, including depreciation, from unconsolidated Funds	1,831	1,348	5,589	4,522
Interest expense	(40,397)	(33,721)	(107,753)	(99,889)
Net income	23,421	35,416	96,069	105,080
Less: Net income attributable to noncontrolling interests	(933)	(4,855)	(10,914)	(14,629)
Net income attributable to common stockholders	$ 22,488	$ 30,561	$ 85,155	$ 90,451
Net income per common share – basic (usd per share)	$ 0.13	$ 0.18	$ 0.49	$ 0.53
Net income per common share – diluted (usd per share)	$ 0.13	$ 0.18	$ 0.49	$ 0.53
Office rental
Revenues
Revenues	$ 205,900	$ 197,054	$ 605,379	$ 578,148
Operating Expenses
Operating expenses	68,754	66,288	196,511	188,462
Office rental | Rental revenues and tenant recoveries
Revenues
Revenues	175,017	166,680	513,926	490,319
Office rental | Parking and other income
Revenues
Revenues	30,883	30,374	91,453	87,829
Multifamily rental
Revenues
Revenues	32,169	26,282	87,410	76,904
Operating Expenses
Operating expenses	9,127	7,142	24,394	20,748
Multifamily rental | Rental revenues
Revenues
Revenues	29,854	24,241	81,055	70,957
Multifamily rental | Parking and other income
Revenues
Revenues	$ 2,315	$ 2,041	$ 6,355	$ 5,947

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Statement of Comprehensive Income [Abstract]
Net income	$ 23,421	$ 35,416	$ 96,069	$ 105,080
Other comprehensive (loss) income: cash flow hedges	(33,179)	10,042	(148,100)	73,405
Comprehensive (loss) income	(9,758)	45,458	(52,031)	178,485
Less: Comprehensive loss (income) attributable to noncontrolling interests	9,221	(7,740)	34,364	(36,490)
Comprehensive (loss) income attributable to common stockholders	$ (537)	$ 37,718	$ (17,667)	$ 141,995

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	AOCI	Accumulated Deficit	Noncontrolling Interests
Dividends declared per common share (USD Per Share)	$ 0.75
Beginning balance (in shares) at Dec. 31, 2017		169,565,000
Beginning balance at Dec. 31, 2017	$ 3,902,049	$ 1,696	$ 3,272,539	$ 43,099	$ (879,810)	$ 1,464,525
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock (in shares)	352,000	342,000
Exchange of OP units for common stock		$ 3	5,717			(5,720)
Net income	$ 105,080				90,451	14,629
Cash flow hedge adjustments	73,405			51,333		21,861
Cash flow hedge fair value adjustments	$ 73,194
Exercise of stock options (in shares)	48,000	21,000
Repurchase of OP Units with cash	$ (108)		(59)			(49)
Taxes paid on exercise of stock options	(450)		(450)
Dividends	(127,440)				(127,440)
Distributions	(39,122)					(39,122)
Stock-based compensation	10,338					10,338
Ending balance (in shares) at Sep. 30, 2018		169,928,000
Ending balance at Sep. 30, 2018	$ 3,923,541	$ 1,699	3,277,747	94,643	(917,010)	1,466,462
Dividends declared per common share (USD Per Share)	$ 0.25
Beginning balance (in shares) at Jun. 30, 2018		169,921,000
Beginning balance at Jun. 30, 2018	$ 3,930,286	$ 1,699	3,277,643	87,486	(905,085)	1,468,543
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock			240			(240)
Net income	35,416				30,561	4,855
Cash flow hedge adjustments	10,042			7,157		2,885
Cash flow hedge fair value adjustments	10,042
Exercise of stock options (in shares)		7,000
Taxes paid on exercise of stock options	(136)		(136)
Dividends	(42,486)				(42,486)
Distributions	(13,007)					(13,007)
Stock-based compensation	3,426					3,426
Ending balance (in shares) at Sep. 30, 2018		169,928,000
Ending balance at Sep. 30, 2018	$ 3,923,541	$ 1,699	3,277,747	94,643	(917,010)	1,466,462
Dividends declared per common share (USD Per Share)	$ 0.78
Beginning balance (in shares) at Dec. 31, 2018	170,214,809	170,215,000
Beginning balance at Dec. 31, 2018	$ 3,848,430	$ 1,702	3,282,316	53,944	(935,630)	1,446,098
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock (in shares)	201,000	201,000
Exchange of OP units for common stock		$ 2	3,207			(3,209)
Net income	$ 96,069				85,155	10,914
Cash flow hedge adjustments	$ (148,100)			(102,822)		(45,278)
Issuance of common stock, net (in shares)	4,900,000	4,932,000
Issuance of common stock, net	$ 200,982	$ 49	200,933
Repurchase of OP Units with cash	(734)		(431)			(303)
Contributions	176,000					176,000
Dividends	(135,411)				(135,411)
Distributions	(59,700)					(59,700)
Stock-based compensation	$ 9,025					9,025
Ending balance (in shares) at Sep. 30, 2019	175,348,468	175,348,000
Ending balance at Sep. 30, 2019	$ 3,984,062	$ 1,753	3,486,025	(48,878)	(988,030)	1,533,192
Dividends declared per common share (USD Per Share)	$ 0.26
Beginning balance (in shares) at Jun. 30, 2019		175,223,000
Beginning balance at Jun. 30, 2019	$ 4,052,360	$ 1,752	3,484,180	(25,853)	(964,927)	1,557,208
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock (in shares)		125,000
Exchange of OP units for common stock		$ 1	1,985			(1,986)
Net income	23,421				22,488	933
Cash flow hedge adjustments	(33,179)			(23,025)		(10,154)
Repurchase of OP Units with cash	(227)		(140)			(87)
Dividends	(45,591)				(45,591)
Distributions	(15,726)					(15,726)
Stock-based compensation	$ 3,004					3,004
Ending balance (in shares) at Sep. 30, 2019	175,348,468	175,348,000
Ending balance at Sep. 30, 2019	$ 3,984,062	$ 1,753	$ 3,486,025	$ (48,878)	$ (988,030)	$ 1,533,192

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Operating Activities
Net income	$ 96,069	$ 105,080
Adjustments to reconcile net income to net cash provided by operating activities:
Income, including depreciation, from unconsolidated Funds	(5,589)	(4,522)
Depreciation and amortization	248,876	219,944
Net accretion of acquired lease intangibles	(12,519)	(17,243)
Straight-line rent	(9,298)	(12,715)
Write-off of uncollectible amounts	(742)	1,565
Deferred loan costs amortized and written off	10,603	6,285
Amortization of loan premium	(153)	(153)
Amortization of stock-based compensation	7,395	8,879
Operating distributions from unconsolidated Funds	5,589	4,522
Change in working capital components:
Tenant receivables	0	(3,625)
Interest payable, accounts payable and deferred revenue	20,284	22,349
Security deposits	305	359
Other assets	(1,852)	1,118
Net cash provided by operating activities	358,968	331,843
Investing Activities
Capital expenditures for improvements to real estate	(128,175)	(115,963)
Capital expenditures for developments	(44,756)	(48,507)
Insurance recoveries for damage to real estate	1,406	0
Property acquisition	(365,875)	0
Acquisition of additional interests in unconsolidated Funds	(7,518)	(9,379)
Capital distributions from unconsolidated Funds	5,851	5,866
Net cash used in investing activities	(539,067)	(167,983)
Financing Activities
Proceeds from borrowings	1,782,557	597,000
Repayment of borrowings	(1,733,092)	(595,151)
Loan cost payments	(16,555)	(2,964)
Contributions from noncontrolling interests in consolidated JVs	163,556	0
Distributions paid to noncontrolling interests	(47,256)	(39,122)
Dividends paid to common stockholders	(134,076)	(127,348)
Taxes paid on exercise of stock options	0	(450)
Repurchase of OP Units	(734)	(108)
Proceeds from issuance of common stock, net	200,982	0
Net cash provided by (used in) financing activities	215,382	(168,143)
Increase (decrease) in cash and cash equivalents and restricted cash	35,283	(4,283)
Cash and cash equivalents and restricted cash - beginning balance	146,348	176,766
Cash and cash equivalents and restricted cash - ending balance	181,631	172,483
Operating Activities
Cash paid for interest, net of capitalized interest	98,424	93,455
Capitalized interest paid	2,805	2,408
Non-cash Investing Transactions
Accrual for additions to real estate and developments	6,641	24,681
Capitalized stock-based compensation for improvements to real estate and developments	1,630	1,460
Removal of fully depreciated and amortized tenant improvements and lease intangibles	62,825	32,332
Removal of fully amortized acquired lease intangible assets	1,874	1,180
Removal of fully accreted acquired lease intangible liabilities	28,152	10,515
Property acquisition accrual	10	0
Recognition of ground lease right-of-use asset - Adoption of ASU 2016-02	10,885
Above-market ground lease intangible liability offset against right-of-use asset - Adoption of ASU 2016-02	3,408
Recognition of ground lease liability - Adoption of ASU 2016-02	10,885
Non-cash Financing Transactions
Gain recorded in AOCI - Adoption of ASU 2017-12 - consolidated derivatives	0	211
Gain (loss) recorded in AOCI - derivatives	(116,251)	70,806
Accrual for deferred loan costs	1,862	136
Non-cash contributions from noncontrolling interests in consolidated JVs	12,444	0
Non-cash distributions to noncontrolling interests	12,444	0
Dividends declared	135,411	127,440
Exchange of OP units for common stock	3,209	5,720
Unconsolidated Funds
Non-cash Financing Transactions
Gain (loss) recorded in AOCI - derivatives	$ (7,995)	$ 8,087

Overview

Overview	9 Months Ended
	Sep. 30, 2019
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 consolidated financial statements refer to Douglas Emmett, Inc. and its subsidiaries on a consolidated basis. At September 30, 2019 , our Consolidated Portfolio consisted of (i) a 16.5 million square foot office portfolio, (ii) 4,147 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 September 30, 2019 , 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 September 30, 2019 , our portfolio (not including two parcels of land from which we receive rent under ground leases), consisted of the following properties (including ancillary retail space): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 53 53 Consolidated JV properties 11 11 Unconsolidated Fund properties — 8 64 72 Multifamily Wholly-owned properties 10 10 Consolidated JV properties 1 1 11 11 Total 75 83 Basis of Presentation The accompanying consolidated 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. We consolidate entities in which we are considered to be the primary beneficiary of a VIE or have a majority of the voting interest of the entity. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of that VIE that most significantly impact its economic performance, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We do not consolidate entities in which the other parties have substantive kick-out rights to remove our power to direct the activities, most significantly impacting the economic performance, of that VIE. In determining whether we are the primary beneficiary, we consider factors such as ownership interest, management representation, authority to control decisions, and contractual and substantive participating rights of each party. We consolidate our Operating Partnership through which we conduct substantially all of our business, and own, directly and through subsidiaries, substantially all of our assets, and are obligated to repay substantially all of our liabilities, including $3.07 billion of consolidated debt. See Note 8 . We also consolidate three JVs. As of September 30, 2019 , these consolidated entities had aggregate total consolidated assets of $8.52 billion (of which $8.06 billion related to investment in real estate), aggregate total consolidated liabilities of $4.54 billion (of which $4.18 billion related to debt), and aggregate total consolidated equity of $3.98 billion (of which $1.53 billion related to noncontrolling interests). In accordance with Topic 842 (as defined in Note 2 below), which we adopted in the first quarter of 2019, we report our office rental revenues and tenant recoveries on a combined basis as Rental revenues and tenant recoveries under Office rental in our consolidated statements of operations, and we reclassified the comparable periods to conform to the current period presentation. See Note 2 The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in conformity with US 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 consolidated 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, 2019 . The interim consolidated financial statements should be read in conjunction with the consolidated financial statements in our 2018

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies On January 1, 2019, we adopted ASUs that changed our accounting policy for leases. See "New Accounting Pronouncements" below. We have not made any other changes to our significant accounting policies in our 2018 Annual Report on Form 10-K. Use of Estimates The preparation of consolidated financial statements in conformity with US 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. Revenue Recognition Office parking revenues, which are included in Parking and other income under Office rental in our consolidated statements of operations, are within the scope of ASC 606 ("Revenue from Contracts with Customers"). Our 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 $27.3 million and $26.0 million for the three months ended September 30, 2019 and 2018 , respectively, and $80.5 million and $76.8 million for the nine months ended September 30, 2019 and 2018 , respectively. Office parking receivables were $1.2 million and $1.1 million as of September 30, 2019 and December 31, 2018 , respectively, and are included in Tenant receivables in our consolidated balance sheets. 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 US 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 that we expect to be applicable and have a material impact on our consolidated financial statements. ASUs Adopted ASU 2016-02 (Topic 842 - "Leases") In February 2016, the FASB issued ASU No. 2016-02, (Topic 842 - "Leases"). The primary impact of the ASU is the recognition of lease assets and liabilities on the balance sheet by lessees for leases classified as operating leases. The accounting applied by lessors is largely unchanged. For example, the vast majority of operating leases remain classified as operating leases, and lessors continue to recognize lease payments for those leases on a straight-line basis over the lease term. We adopted the ASU on January 1, 2019 using the modified retrospective transition method. We recorded cumulative adjustments of $2.1 million and $0.4 million to the opening balances of accumulated deficit and noncontrolling interests, respectively, for leasing expenses related to leases that were entered into before the adoption date but commenced after the adoption date. The ASU provides a practical expedient package, which we elected to use, that allows entities (a) not to reassess whether any expired or existing contracts as of the adoption date are considered or contain leases; (b) not to reassess the lease classification for any expired or existing leases as of the adoption date; and (c) not to reassess initial direct costs for any existing leases as of the adoption date. All leases entered into on or after the adoption date were accounted for under the ASU. We lease space to tenants at our office and multifamily properties. Under the ASU, all of our tenant leases continue to be classified as operating leases. The ASU continues to require that lease payments for operating leases be recognized over the lease term on a straight-line basis unless another systematic and rational basis is more representative of the pattern in which benefit is expected to be derived from the use of the underlying asset. If collectibility of the lease payments is not probable at the commencement date, then the lease income should be limited to the lesser of the income recognized on a straight-line basis or cash basis. If the assessment of collectibility changes after the commencement date, any difference between the lease income that would have been recognized on a straight-line basis and cash basis must be recognized as a current-period adjustment to lease income. We elected to adopt the complete impairment model guidance within ASC 842. Under this model we no longer maintain a general reserve related to our receivables, and instead analyze, on a lease-by-lease basis, whether amounts due under the operating lease are deemed probable for collection. We write off tenant and deferred rent receivables as a charge against rental revenue in the period we determine amounts receivable are not probable for collection. The ASU 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 are accounted for in accordance with the ASU. 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. Our office tenant leases include a lease component for the rental income and a non-lease component for the related tenant recoveries. We determined that our office tenant leases qualify for the single component presentation and we adopted the practical expedient. We account for the combined components under the ASU. Rental revenues and tenant recoveries from our office tenant leases is included in Rental revenues and tenant recoveries under Office rental in our consolidated statements of operations. Rental revenues from our multifamily tenant leases is included in multifamily Rental revenues in our consolidated statements of operations. Rental revenue recognized on a straight-line basis in excess of billed rents is included in Deferred rent receivables in our consolidated balance sheets. See Note 15 for more information regarding the future lease rental receipts from our operating leases. The ASU defines initial direct costs of a lease, which may be 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 historically capitalized most of our leasing costs. We expensed $1.0 million and $3.1 million during the three and nine months ended September 30, 2019 , respectively, of leasing costs related to our tenant leases that did not qualify as initial direct costs of a lease, which are included in General and administrative expenses in our consolidated statements of operations. We pay rent under a ground lease which expires on December 31, 2086 . Upon adoption of the ASU, we continued to classify the lease as an operating lease, and we recognized a right-of-use asset for the land and a lease liability for the future lease payments of $10.9 million . We calculated the carrying value of the right-of-use asset and lease liability by discounting the future lease payments using our incremental borrowing rate. We adjusted the right-of-use asset carrying value for a related above-market ground lease liability of $3.4 million , which reduced the carrying value of the asset to $7.5 million . We continued to recognize the lease payments as expense, which is included in Office expenses in our consolidated statements of operations. See Note 4 for more information regarding this ground lease. See Note 13 for the fair value disclosures related to the ground lease liability. In December 2018, the FASB issued ASU 2018-20, an update to ASU 2016-02, which provides guidance on accounting for sales and other similar taxes collected from lessees, certain lessor costs, and recognition of variable payments for contracts with lease and nonlease components. We adopted the ASU and it did not have a material impact on our consolidated financial statements. In March 2019, the FASB issued ASU 2019-01, an update to ASU 2016-02, which provides guidance on transition disclosures related to Topic 250 "Accounting Changes and Error Corrections" and other technical updates. We adopted the ASU and it did not have a material impact on our consolidated financial statements. ASUs Not Yet Adopted ASU 2016-13 (Topic 326 - "Financial Instruments-Credit Losses") In June 2016, the FASB issued ASU No. 2016-13, "Measurement of Credit Losses on Financial Instruments" which amends "Financial Instruments-Credit Losses" (Topic 326). The ASU provides guidance for measuring credit losses on financial instruments. The ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, which for us would be the first quarter of 2020, and early adoption is permitted. The amendments in this ASU should be applied retrospectively. The ASU would impact our measurement of credit losses for our Office parking receivables, which were $1.2 million and $1.1 million as of September 30, 2019 and December 31, 2018 , respectively, and are included in Tenant receivables in our consolidated balance sheets. We expect to adopt the ASU in the first quarter of 2020 and we do not expect the ASU to have a material impact on our consolidated financial statements.

Investment in Real Estate

Investment in Real Estate	9 Months Ended
	Sep. 30, 2019
Asset Acquisition [Abstract]
Investment in Real Estate	Investment in Real Estate We account for our property acquisitions as asset acquisitions. The acquired property's results of operations are included in our results of operations from the respective acquisition date. On June 7, 2019, we acquired The Glendon, a residential community in Westwood, and on June 28, 2019, we contributed the property to a consolidated JV that we manage and in which we own a twenty percent capital interest. The table below summarizes the purchase price allocation for the acquisition. The contract and purchase prices differ due to prorations and similar adjustments: (In thousands, except number of units) The Glendon Submarket West Los Angeles Acquisition date June 7, 2019 Contract price $ 365,100 Number of multifamily units 350 Retail square footage 50 Investment in real estate: Land $ 32,773 Buildings and improvements 333,624 Tenant improvements and lease intangibles 2,301 Acquired above- and below-market leases, net (2,114 ) Net assets and liabilities acquired $ 366,584

Ground Lease

Ground Lease	9 Months Ended
	Sep. 30, 2019
Lessee Disclosure [Abstract]
Ground Lease	Ground Lease We pay rent under a ground lease located in Honolulu, Hawaii, which expires on December 31, 2086 . The rent is fixed at $733 thousand per year until February 28, 2029 , after which it will reset to the greater of the existing ground rent or market. As of September 30, 2019 , the right-of-use asset carrying value of this ground lease was $7.5 million and the ground lease liability was $10.9 million . We incurred ground rent expense, net of amounts capitalized, of $170 thousand and $183 thousand for the three months ended September 30, 2019 and 2018 , respectively, and $532 thousand and $550 thousand for the nine months ended September 30, 2019 and 2018 , respectively, which is included in Office expenses in our consolidated statements of operations. The table below, which assumes that the ground rent payments will continue to be $733 thousand per year after February 28, 2029 , presents the future minimum ground lease payments as of September 30, 2019 : Twelve months ending September 30: (In thousands) 2020 $ 733 2021 733 2022 733 2023 733 2024 733 Thereafter 45,628 Total future minimum lease payments $ 49,293

Acquired Lease Intangibles

Acquired Lease Intangibles	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	Acquired Lease Intangibles Summary of our Acquired Lease Intangibles (In thousands) September 30, 2019 December 31, 2018 Above-market tenant leases $ 3,745 $ 5,595 Above-market tenant leases - accumulated amortization (1,800 ) (3,289 ) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (220 ) (207 ) Acquired lease intangible assets, net $ 2,877 $ 3,251 Below-market tenant leases $ 86,159 $ 112,175 Below-market tenant leases - accumulated accretion (47,775 ) (63,013 ) Above-market ground lease where we are the tenant (1) — 4,017 Above-market ground lease - accumulated accretion (1) — (610 ) Acquired lease intangible liabilities, net $ 38,384 $ 52,569 ______________________________________________ (1) Upon adoption of ASU 2016-02 on January 1, 2019 we adjusted the ground lease right-of-use asset carrying value for the carrying value of the above-market ground lease - see Notes 2 and 4 . 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 September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 4,009 $ 4,940 $ 12,533 $ 17,218 Amortization of an above-market ground lease asset (2) (6 ) (5 ) (14 ) (13 ) Accretion of an above-market ground lease liability (3) — 13 — 38 Total $ 4,003 $ 4,948 $ 12,519 $ 17,243 ______________________________________________ (1) Recorded 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. Upon adoption of ASU 2016-02 on January 1, 2019 we adjusted the ground lease right-of-use asset carrying value with the carrying value of the above-market ground lease - see Notes 2 and 4 .

Investments in Unconsolidated F

Investments in Unconsolidated Funds	9 Months Ended
	Sep. 30, 2019
Real Estate Investments, Net [Abstract]
Investments In Unconsolidated Funds	Investments in Unconsolidated 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 other investors in the Funds own eight office properties totaling 1.8 million square feet. During the nine months ended September 30, 2019 we purchased an additional 1.4% interest in Fund X. At September 30, 2019 , we held direct and indirect equity interests of 6.2% of the Opportunity Fund, 72.7% of Fund X and 24.6% of Partnership X. Our Funds pay us fees and reimburse us for certain expenses related to property management and other services we provide, which are included in Other income in our consolidated statements of operations. 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 we received from our Funds: Nine Months Ended September 30, (In thousands) 2019 2018 Operating distributions received $ 5,589 $ 4,522 Capital distributions received 5,851 5,866 Total distributions received $ 11,440 $ 10,388 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) September 30, 2019 December 31, 2018 Total assets $ 677,022 $ 694,713 Total liabilities $ 533,467 $ 525,483 Total equity $ 143,555 $ 169,230 Nine Months Ended September 30, (In thousands) 2019 2018 Total revenues $ 62,239 $ 58,935 Operating income $ 18,033 $ 16,870 Net income $ 5,759 $ 4,333

Other Assets

Other Assets	9 Months Ended
	Sep. 30, 2019
Other Assets [Abstract]
Other Assets	Other Assets (In thousands) September 30, 2019 December 31, 2018 Restricted cash $ 121 $ 121 Prepaid expenses 10,750 7,830 Other indefinite-lived intangibles 1,988 1,988 Furniture, fixtures and equipment, net 2,307 1,101 Other 3,570 3,719 Total other assets $ 18,736 $ 14,759

Secured Notes Payable and Revol

Secured Notes Payable and Revolving Credit Facility, Net	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Secured Notes Payable and Revolving Credit Facility, Net	Secured Notes Payable and Revolving Credit Facility, Net Description Maturity Date (1) Principal Balance as of September 30, 2019 Principal Balance as of December 31, 2018 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date (In thousands) Wholly Owned Subsidiaries Fannie Mae loan (3) — $ — $ 145,000 — — — Fannie Mae loan (3) — — 115,000 — — — Term loan (3) — — 220,000 — — — Term loan (3) — — 340,000 — — — Term loan (3) — — 400,000 — — — Term loan (3) — — 180,000 — — — Term loan (4)(5) 6/23/2023 360,000 360,000 LIBOR + 1.55% 2.57% 7/1/2021 Term loan (5) 1/1/2024 300,000 300,000 LIBOR + 1.55% 3.46% 1/1/2022 Term loan (5) 3/3/2025 335,000 335,000 LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (5)(6) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.84% 3/1/2023 Term loan (5)(7)(8) 8/15/2026 415,000 — LIBOR + 1.10% 2.58% 8/1/2025 Term loan (5)(7) 9/19/2026 400,000 — LIBOR + 1.15% 2.44% 9/1/2024 Term loan (5)(7)(9) 9/26/2026 200,000 — LIBOR + 1.20% 2.77% 10/1/2024 Fannie Mae loan (5) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Fannie Mae loan (5)(7) 6/1/2029 255,000 — LIBOR + 0.98% 3.26% 6/1/2027 Fannie Mae loan (5)(7)(10) 6/1/2029 125,000 — LIBOR + 0.98% 2.55% 6/1/2027 Term loan (11) 6/1/2038 31,046 31,582 N/A 4.55% N/A Revolving credit facility (12) 8/21/2023 — 105,000 LIBOR + 1.15% N/A N/A Total Wholly Owned Subsidiary Debt 3,073,446 3,183,982 Consolidated JVs Term loan (5) 2/28/2023 580,000 580,000 LIBOR + 1.40% 2.37% 3/1/2021 Term loan (5) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Term loan (5) (7) 6/1/2029 160,000 — LIBOR + 0.98% 3.25% 7/1/2027 Total Consolidated Debt (13) 4,213,446 4,163,982 Unamortized loan premium, net 3,832 3,986 Unamortized deferred loan costs, net (40,311 ) (33,938 ) Total Consolidated Debt, net $ 4,176,967 $ 4,134,030 _______________________________________________________________________ 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) Effective rate as of September 30, 2019 . Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees. See Note 10 for details of our interest rate swaps. See below for details of our loan costs. (3) These loans were paid off during the nine months ended September 30, 2019 . (4) We paid this loan off on November 1, 2019. See Note 17. (5) The loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (6) The effective rate will decrease to 2.76% on March 2, 2020 . (7) These loans were closed during the nine months ended September 30, 2019 . (8) Effective rate will increase to 3.07% on April 1, 2020 . (9) Effective rate will decrease to 2.36% on July 1, 2020 . (10) Effective rate will increase to 3.25% on December 1, 2020 . (11) Requires monthly payments of principal and interest. Principal amortization is based upon a 30 -year amortization schedule. (12) In March 2019, we renewed our $400.0 million revolving credit facility, releasing two previously encumbered properties, lowering the borrowing rate and unused facility fees, and extending the maturity date. Unused commitment fees range from 0.10% to 0.15% . The loan agreement includes a zero-percent LIBOR floor. (13) The table does not include our unconsolidated Funds' loans - see Note 16 . See Note 13 for our fair value disclosures. Debt Statistics The following table summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of September 30, 2019 Principal Balance as of December 31, 2018 Aggregate swapped to fixed rate loans $ 4,182,400 $ 3,882,400 Aggregate fixed rate loans 31,046 31,582 Aggregate floating rate loans — 250,000 Total Debt $ 4,213,446 $ 4,163,982 The following table summarizes certain consolidated debt statistics as of September 30, 2019 : Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $4.21 Weighted average remaining life (including extension options) 6.2 years Weighted average remaining fixed interest period 3.9 years Weighted average annual interest rate 3.00% Future Principal Payments At September 30, 2019 , the minimum future principal payments due on our consolidated secured notes payable and revolving credit facility were as follows: Twelve months ending September 30: Excluding Maturity Extension Options Including Maturity Extension Options (1) (In thousands) 2020 $ 743 $ 743 2021 778 778 2022 300,814 814 2023 1,275,852 940,852 2024 891 300,891 Thereafter 2,634,368 2,969,368 Total future principal payments $ 4,213,446 $ 4,213,446 ____________________________________________ (1) Some of our loan agreements 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 $28.9 million and $24.2 million at September 30, 2019 and December 31, 2018 , respectively. The table below presents loan costs, which are included in Interest expense in our consolidated statements of operations: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Loan costs expensed $ 1,751 $ — $ 1,751 $ — Deferred loan costs written off 4,416 7 4,992 411 Deferred loan cost amortization 1,807 1,999 5,611 5,874 Total $ 7,974 $ 2,006 $ 12,354 $ 6,285

Interest Payable, Accounts Paya

Interest Payable, Accounts Payable and Deferred Revenue	9 Months Ended
	Sep. 30, 2019
Accounts Payable and Accrued Liabilities [Abstract]
Interest Payable, Accounts Payable and Deferred Revenue	Interest Payable, Accounts Payable and Deferred Revenue (In thousands) September 30, 2019 December 31, 2018 Interest payable $ 9,537 $ 10,657 Accounts payable and accrued liabilities 79,749 75,111 Deferred revenue 45,658 44,386 Total interest payable, accounts payable and deferred revenue $ 134,944 $ 130,154

Derivative Contracts

Derivative Contracts	9 Months Ended
	Sep. 30, 2019
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 8 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 September 30, 2019 , 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)(2)(4)(5) 38 $ 4,684,800 Unconsolidated Funds' derivatives (3)(4) 4 $ 510,000 ___________________________________________________ (1) The notional amount reflects 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) Includes forward swaps with a total notional of $502.4 million . (3) The notional amount reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. (4) See Note 13 for our derivative fair value disclosures. (5) See Note 17 for swaps that we executed after September 30, 2019 . Credit-risk-related Contingent Features Our swaps include credit-risk related contingent features. For example, we have agreements with certain of our interest rate swap counterparties that contain a provision under which we could be declared in default on our derivative obligations if repayment of the underlying indebtedness that we are hedging is accelerated by the lender due to our default on the indebtedness. As of September 30, 2019 , 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. The fair value of our interest rate swap contract liabilities, including accrued interest and excluding credit risk adjustments, was as follows: (In thousands) September 30, 2019 December 31, 2018 Consolidated derivatives (1) $ 80,832 $ 1,681 Unconsolidated Funds' derivatives (2) $ 3,970 $ — ___________________________________________________ (1) Includes 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. 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, was as follows: (In thousands) September 30, 2019 December 31, 2018 Consolidated derivatives (1) $ 13,238 $ 76,021 Unconsolidated Funds' derivatives (2) $ 1,136 $ 12,576 ___________________________________________________ (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) Nine Months Ended September 30, 2019 2018 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gain recorded in AOCI - adoption of ASU 2017-12 (1) $ — $ 211 (Loss) gain recorded in AOCI before reclassifications (1) $ (116,251 ) $ 70,806 Gains reclassified from AOCI to Interest Expense (1) $ (22,202 ) $ (5,316 ) Interest Expense presented in the consolidated statements of operations $ (107,753 ) $ (99,889 ) Unconsolidated Funds' derivatives (our share) (2) : (Loss) gain recorded in AOCI before reclassifications (1) $ (7,995 ) $ 8,087 Gains reclassified from AOCI to Income, including depreciation, from unconsolidated Funds (1) $ (1,652 ) $ (383 ) Income, including depreciation, from unconsolidated Funds presented in the consolidated statements of operations $ 5,589 $ 4,522 ___________________________________________________ (1) See Note 11 for our AOCI reconciliation. (2) We calculate our share by multiplying the total amount for each Fund by our direct and indirect equity interest in the respective Fund. Future Reclassifications from AOCI At September 30, 2019 , 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: Losses to be reclassified from AOCI to Interest Expense $ 1,581 Unconsolidated Funds' derivatives (our share): Losses to be reclassified from AOCI to Income, including depreciation, from unconsolidated Funds $ 226

Equity

Equity	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Equity	Equity Transactions During the nine months ended September 30, 2019 , (i) we acquired 201 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units, (ii) we acquired 19 thousand OP Units and fully-vested LTIP Units for $734 thousand in cash, and (iii) we issued 4.9 million shares of our common stock under our ATM program for net proceeds of $201.2 million . We also purchased a property on June 7, 2019 for a contract price of $365.1 million , which we subsequently contributed to one of our consolidated JVs on June 28, 2019. We manage and own a twenty percent capital interest in the JV. The acquisition and related working capital was funded with (i) a secured, non-recourse $160.0 million interest-only loan scheduled to mature in June 2029, which was assumed by the consolidated JV to which we contributed the property, (ii) a $44.0 million capital contribution by us to the JV, and (iii) a $176.0 million capital contribution by Noncontrolling interests in the JV. See Note 3 for more information regarding the property acquisition and Note 8 for more information regarding the loan. During the nine months ended September 30, 2018 , we (i) acquired 352 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 21 thousand shares of our common stock for the exercise of 48 thousand 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 owned 28.0 million OP Units and fully-vested LTIP Units, and represented approximately 14% of our Operating Partnership's total outstanding interests as of September 30, 2019 when we owned 175.3 million OP Units (to match our 175.3 million shares of outstanding common stock). 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 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: Nine Months Ended September 30, (In thousands) 2019 2018 Net income attributable to common stockholders $ 85,155 $ 90,451 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 3,209 5,720 Repurchase of OP Units from noncontrolling interests (431 ) (59 ) Net transfers from noncontrolling interests 2,778 5,661 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 87,933 $ 96,112 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: Nine Months Ended September 30, (In thousands) 2019 2018 Beginning balance $ 53,944 $ 43,099 Adoption of ASU 2017-12 - cumulative opening balance adjustment — 211 Consolidated derivatives: Other comprehensive (loss) income before reclassifications (116,251 ) 70,806 Reclassification of gains from AOCI to Interest Expense (22,202 ) (5,316 ) Unconsolidated Funds' derivatives (our share) (2) : Other comprehensive (loss) income before reclassifications (7,995 ) 8,087 Reclassification of gains from AOCI to Income, including depreciation, from unconsolidated Funds (1,652 ) (383 ) Net current period OCI (148,100 ) 73,405 OCI attributable to noncontrolling interests 45,278 (21,861 ) OCI attributable to common stockholders (102,822 ) 51,544 Ending balance $ (48,878 ) $ 94,643 ___________________________________________________ (1) See Note 10 for the details of our derivatives and Note 13 for our derivative fair value disclosures. (2) We calculate our share by multiplying the total amount for each Fund by our equity interest in the respective Fund. 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. The table below presents our stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Stock-based compensation expense, net $ 2,382 $ 2,932 $ 7,395 $ 8,879 Capitalized stock-based compensation $ 622 $ 512 $ 1,630 $ 1,460 Intrinsic value of options exercised $ — $ 393 $ — $ 1,196

EPS

EPS	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator (In thousands): Net income attributable to common stockholders $ 22,488 $ 30,561 $ 85,155 $ 90,451 Allocation to participating securities: Unvested LTIP Units (87 ) (149 ) (350 ) (442 ) Net income attributable to common stockholders - basic and diluted $ 22,401 $ 30,412 $ 84,805 $ 90,009 Denominator (In thousands): Weighted average shares of common stock outstanding - basic 175,278 169,926 172,684 169,815 Effect of dilutive securities: Stock options (1) — 5 — 13 Weighted average shares of common stock and common stock equivalents outstanding - diluted 175,278 169,931 172,684 169,828 Net income per common share - basic $ 0.13 $ 0.18 $ 0.49 $ 0.53 Net income per common share - diluted $ 0.13 $ 0.18 $ 0.49 $ 0.53 ____________________________________________________ (1) There were no outstanding options during the nine months ended September 30, 2019 . The following securities were excluded from the calculation of diluted EPS during the periods noted because including them for those periods would be anti-dilutive to the calculation: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 OP Units 26,211 26,630 26,278 26,736 Vested LTIP Units 1,838 812 1,833 807

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2019
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 September 30, 2019 , 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 8 for the details of our secured notes payable. We estimate the fair value of our consolidated secured notes payable 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 and carrying value of our secured notes payable (excluding our revolving credit facility), the carrying value includes unamortized loan premium and excludes unamortized deferred loan fees: (In thousands) September 30, 2019 December 31, 2018 Fair value $ 4,237,849 $ 4,087,979 Carrying value $ 4,213,446 $ 4,062,968 Ground lease liability: See Note 4 for the details of our ground lease. We estimate the fair value of our ground lease liability by calculating the present value of the future lease payments disclosed in Note 4 using our incremental borrowing rate. The calculation incorporates observable market interest rates which we consider to be Level 2 inputs. The table below presents the estimated fair value and carrying value of our ground lease liability: (In thousands) September 30, 2019 Fair value $ 12,760 Carrying value $ 10,884 Financial instruments measured at fair value Derivative instruments: See Note 10 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) September 30, 2019 December 31, 2018 Derivative Assets: Fair value - consolidated derivatives (1) $ 11,925 $ 73,414 Fair value - unconsolidated Funds' derivatives (2) $ 1,034 $ 12,228 Derivative Liabilities: Fair value - consolidated derivatives (1) $ 78,111 $ 1,530 Fair value - unconsolidated Funds' derivatives (2) $ 4,009 $ — ____________________________________________________ (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 Funds in our consolidated balance sheets. See Note 16 regarding our unconsolidated Funds debt and derivatives.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Office Segment Total office revenues $ 205,900 $ 197,054 $ 605,379 $ 578,148 Office expenses (68,754 ) (66,288 ) (196,511 ) (188,462 ) Office segment profit 137,146 130,766 408,868 389,686 Multifamily Segment Total multifamily revenues 32,169 26,282 87,410 76,904 Multifamily expenses (9,127 ) (7,142 ) (24,394 ) (20,748 ) Multifamily segment profit 23,042 19,140 63,016 56,156 Total profit from all segments $ 160,188 $ 149,906 $ 471,884 $ 445,842 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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total profit from all segments $ 160,188 $ 149,906 $ 471,884 $ 445,842 General and administrative expenses (9,218 ) (9,440 ) (28,209 ) (28,444 ) Depreciation and amortization (90,279 ) (74,067 ) (248,876 ) (219,944 ) Other income 2,952 2,951 8,742 8,373 Other expenses (1,656 ) (1,561 ) (5,308 ) (5,380 ) Income, including depreciation, from unconsolidated Funds 1,831 1,348 5,589 4,522 Interest expense (40,397 ) (33,721 ) (107,753 ) (99,889 ) Net income 23,421 35,416 96,069 105,080 Less: Net income attributable to noncontrolling interests (933 ) (4,855 ) (10,914 ) (14,629 ) Net income attributable to common stockholders $ 22,488 $ 30,561 $ 85,155 $ 90,451

Future Minimum Lease Rental Rec

Future Minimum Lease Rental Receipts	9 Months Ended
	Sep. 30, 2019
Lessor Disclosure [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 September 30, 2019 : Twelve months ending September 30: (In thousands) 2020 $ 603,132 2021 529,062 2022 442,362 2023 357,131 2024 273,685 Thereafter 673,833 Total future minimum base rentals (1) $ 2,879,205 _____________________________________________________ (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.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	9 Months Ended
	Sep. 30, 2019
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 nine months ended September 30, 2019 and 2018 , 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 10 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 September 30, 2019 , the obligations to remove the asbestos from these properties if they were demolished or undergo major renovations have indeterminable settlement dates, and we are unable to reasonably estimate the fair value of the associated conditional asset retirement obligation. As of September 30, 2019 , the obligations to remove the asbestos from properties that are currently undergoing major renovations, or that we plan to renovate in the future, are not material to our consolidated financial statements. Development and Other Contracts In West Los Angeles, we are building a high-rise apartment building with 376 apartments. In downtown Honolulu, we are converting a 25 story, 490,000 square foot office tower into approximately 500 rental apartments. We expect the conversion to occur in phases over a number of years as the office space is vacated. As of September 30, 2019 , we had an aggregate remaining contractual commitment for these and other development projects of approximately $184.3 million . As of September 30, 2019 , we had an aggregate remaining contractual commitment for repositionings, capital expenditure projects and tenant improvements of approximately $24.7 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 September 30, 2019 , 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 September 30, 2019 . 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) 7/1/2024 400.0 LIBOR + 1.65% 3.44% 7/1/2022 $ 510.0 ___________________________________________________ (1) See Note 6 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 September 30, 2019 , assuming a zero -percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $1.4 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 September 30, 2019 , assuming a zero -percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $20.0 million . 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. (4) Loan agreement includes a zero -percent LIBOR floor. The corresponding swaps do not include such a floor.

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2019
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events On November 1, 2019, we closed a secured, non-recourse $400.0 million interest-only loan scheduled to mature in November 2026. The loan bears interest at LIBOR + 1.15% , which we have effectively fixed through interest rate swaps at 2.18% until July 2021, which increases to 2.31% until October 2024. Part of the proceeds were used to pay off a $360.0 million loan scheduled to mature in June 2023.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2019
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The accompanying consolidated 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. We consolidate entities in which we are considered to be the primary beneficiary of a VIE or have a majority of the voting interest of the entity. We are deemed to be the primary beneficiary of a VIE when we have (i) the power to direct the activities of that VIE that most significantly impact its economic performance, and (ii) the obligation to absorb losses or the right to receive benefits that could potentially be significant to the VIE. We do not consolidate entities in which the other parties have substantive kick-out rights to remove our power to direct the activities, most significantly impacting the economic performance, of that VIE. In determining whether we are the primary beneficiary, we consider factors such as ownership interest, management representation, authority to control decisions, and contractual and substantive participating rights of each party. We consolidate our Operating Partnership through which we conduct substantially all of our business, and own, directly and through subsidiaries, substantially all of our assets, and are obligated to repay substantially all of our liabilities, including $3.07 billion of consolidated debt. See Note 8 . We also consolidate three JVs. As of September 30, 2019 , these consolidated entities had aggregate total consolidated assets of $8.52 billion (of which $8.06 billion related to investment in real estate), aggregate total consolidated liabilities of $4.54 billion (of which $4.18 billion related to debt), and aggregate total consolidated equity of $3.98 billion (of which $1.53 billion related to noncontrolling interests). In accordance with Topic 842 (as defined in Note 2 below), which we adopted in the first quarter of 2019, we report our office rental revenues and tenant recoveries on a combined basis as Rental revenues and tenant recoveries under Office rental in our consolidated statements of operations, and we reclassified the comparable periods to conform to the current period presentation. See Note 2 The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC. Certain information and footnote disclosures normally included in the consolidated financial statements prepared in conformity with US 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 consolidated 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, 2019 . The interim consolidated financial statements should be read in conjunction with the consolidated financial statements in our 2018 Annual Report on Form 10-K and the notes thereto. Any references to the number or class 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 consolidated financial statements in accordance with the standards of the PCAOB.
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with US 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.
Revenue Recognition	Revenue Recognition
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 US 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 that we expect to be applicable and have a material impact on our consolidated financial statements. ASUs Adopted ASU 2016-02 (Topic 842 - "Leases") In February 2016, the FASB issued ASU No. 2016-02, (Topic 842 - "Leases"). The primary impact of the ASU is the recognition of lease assets and liabilities on the balance sheet by lessees for leases classified as operating leases. The accounting applied by lessors is largely unchanged. For example, the vast majority of operating leases remain classified as operating leases, and lessors continue to recognize lease payments for those leases on a straight-line basis over the lease term. We adopted the ASU on January 1, 2019 using the modified retrospective transition method. We recorded cumulative adjustments of $2.1 million and $0.4 million to the opening balances of accumulated deficit and noncontrolling interests, respectively, for leasing expenses related to leases that were entered into before the adoption date but commenced after the adoption date. The ASU provides a practical expedient package, which we elected to use, that allows entities (a) not to reassess whether any expired or existing contracts as of the adoption date are considered or contain leases; (b) not to reassess the lease classification for any expired or existing leases as of the adoption date; and (c) not to reassess initial direct costs for any existing leases as of the adoption date. All leases entered into on or after the adoption date were accounted for under the ASU. We lease space to tenants at our office and multifamily properties. Under the ASU, all of our tenant leases continue to be classified as operating leases. The ASU continues to require that lease payments for operating leases be recognized over the lease term on a straight-line basis unless another systematic and rational basis is more representative of the pattern in which benefit is expected to be derived from the use of the underlying asset. If collectibility of the lease payments is not probable at the commencement date, then the lease income should be limited to the lesser of the income recognized on a straight-line basis or cash basis. If the assessment of collectibility changes after the commencement date, any difference between the lease income that would have been recognized on a straight-line basis and cash basis must be recognized as a current-period adjustment to lease income. We elected to adopt the complete impairment model guidance within ASC 842. Under this model we no longer maintain a general reserve related to our receivables, and instead analyze, on a lease-by-lease basis, whether amounts due under the operating lease are deemed probable for collection. We write off tenant and deferred rent receivables as a charge against rental revenue in the period we determine amounts receivable are not probable for collection. The ASU 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 are accounted for in accordance with the ASU. 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. Our office tenant leases include a lease component for the rental income and a non-lease component for the related tenant recoveries. We determined that our office tenant leases qualify for the single component presentation and we adopted the practical expedient. We account for the combined components under the ASU. Rental revenues and tenant recoveries from our office tenant leases is included in Rental revenues and tenant recoveries under Office rental in our consolidated statements of operations. Rental revenues from our multifamily tenant leases is included in multifamily Rental revenues in our consolidated statements of operations. Rental revenue recognized on a straight-line basis in excess of billed rents is included in Deferred rent receivables in our consolidated balance sheets. See Note 15 for more information regarding the future lease rental receipts from our operating leases. The ASU defines initial direct costs of a lease, which may be 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 historically capitalized most of our leasing costs. We expensed $1.0 million and $3.1 million during the three and nine months ended September 30, 2019 , respectively, of leasing costs related to our tenant leases that did not qualify as initial direct costs of a lease, which are included in General and administrative expenses in our consolidated statements of operations. We pay rent under a ground lease which expires on December 31, 2086 . Upon adoption of the ASU, we continued to classify the lease as an operating lease, and we recognized a right-of-use asset for the land and a lease liability for the future lease payments of $10.9 million . We calculated the carrying value of the right-of-use asset and lease liability by discounting the future lease payments using our incremental borrowing rate. We adjusted the right-of-use asset carrying value for a related above-market ground lease liability of $3.4 million , which reduced the carrying value of the asset to $7.5 million . We continued to recognize the lease payments as expense, which is included in Office expenses in our consolidated statements of operations. See Note 4 for more information regarding this ground lease. See Note 13 for the fair value disclosures related to the ground lease liability. In December 2018, the FASB issued ASU 2018-20, an update to ASU 2016-02, which provides guidance on accounting for sales and other similar taxes collected from lessees, certain lessor costs, and recognition of variable payments for contracts with lease and nonlease components. We adopted the ASU and it did not have a material impact on our consolidated financial statements. In March 2019, the FASB issued ASU 2019-01, an update to ASU 2016-02, which provides guidance on transition disclosures related to Topic 250 "Accounting Changes and Error Corrections" and other technical updates. We adopted the ASU and it did not have a material impact on our consolidated financial statements. ASUs Not Yet Adopted ASU 2016-13 (Topic 326 - "Financial Instruments-Credit Losses") In June 2016, the FASB issued ASU No. 2016-13, "Measurement of Credit Losses on Financial Instruments" which amends "Financial Instruments-Credit Losses" (Topic 326). The ASU provides guidance for measuring credit losses on financial instruments. The ASU is effective for fiscal years beginning after December 15, 2019, including interim periods within those years, which for us would be the first quarter of 2020, and early adoption is permitted. The amendments in this ASU should be applied retrospectively. The ASU would impact our measurement of credit losses for our Office parking receivables, which were $1.2 million and $1.1 million as of September 30, 2019 and December 31, 2018 , respectively, and are included in Tenant receivables in our consolidated balance sheets. We expect to adopt the ASU in the first quarter of 2020 and we do not expect the ASU to have a material impact on our consolidated financial statements.
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)	9 Months Ended
	Sep. 30, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of September 30, 2019 , our portfolio (not including two parcels of land from which we receive rent under ground leases), consisted of the following properties (including ancillary retail space): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 53 53 Consolidated JV properties 11 11 Unconsolidated Fund properties — 8 64 72 Multifamily Wholly-owned properties 10 10 Consolidated JV properties 1 1 11 11 Total 75 83

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2019
Asset Acquisition [Abstract]
Schedule of Purchase Price Allocation for Acquisition	The table below summarizes the purchase price allocation for the acquisition. The contract and purchase prices differ due to prorations and similar adjustments: (In thousands, except number of units) The Glendon Submarket West Los Angeles Acquisition date June 7, 2019 Contract price $ 365,100 Number of multifamily units 350 Retail square footage 50 Investment in real estate: Land $ 32,773 Buildings and improvements 333,624 Tenant improvements and lease intangibles 2,301 Acquired above- and below-market leases, net (2,114 ) Net assets and liabilities acquired $ 366,584

Ground Lease (Tables)

Ground Lease (Tables)	9 Months Ended
	Sep. 30, 2019
Lessee Disclosure [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, 2029 , presents the future minimum ground lease payments as of September 30, 2019 : Twelve months ending September 30: (In thousands) 2020 $ 733 2021 733 2022 733 2023 733 2024 733 Thereafter 45,628 Total future minimum lease payments $ 49,293

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	9 Months Ended
	Sep. 30, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Lease Intangibles	Summary of our Acquired Lease Intangibles (In thousands) September 30, 2019 December 31, 2018 Above-market tenant leases $ 3,745 $ 5,595 Above-market tenant leases - accumulated amortization (1,800 ) (3,289 ) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (220 ) (207 ) Acquired lease intangible assets, net $ 2,877 $ 3,251 Below-market tenant leases $ 86,159 $ 112,175 Below-market tenant leases - accumulated accretion (47,775 ) (63,013 ) Above-market ground lease where we are the tenant (1) — 4,017 Above-market ground lease - accumulated accretion (1) — (610 ) Acquired lease intangible liabilities, net $ 38,384 $ 52,569 ______________________________________________ (1) Upon adoption of ASU 2016-02 on January 1, 2019 we adjusted the ground lease right-of-use asset carrying value for the carrying value of the above-market ground lease - see Notes 2 and 4 .
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 September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 4,009 $ 4,940 $ 12,533 $ 17,218 Amortization of an above-market ground lease asset (2) (6 ) (5 ) (14 ) (13 ) Accretion of an above-market ground lease liability (3) — 13 — 38 Total $ 4,003 $ 4,948 $ 12,519 $ 17,243 ______________________________________________ (1) Recorded 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. Upon adoption of ASU 2016-02 on January 1, 2019 we adjusted the ground lease right-of-use asset carrying value with the carrying value of the above-market ground lease - see Notes 2 and 4 .

Investments in Unconsolidated_2

Investments in Unconsolidated Funds (Tables)	9 Months Ended
	Sep. 30, 2019
Real Estate Investments, Net [Abstract]
Summary of Statement of Operations for Investments in Unconsolidated Funds and Cash Received from 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) September 30, 2019 December 31, 2018 Total assets $ 677,022 $ 694,713 Total liabilities $ 533,467 $ 525,483 Total equity $ 143,555 $ 169,230 Nine Months Ended September 30, (In thousands) 2019 2018 Total revenues $ 62,239 $ 58,935 Operating income $ 18,033 $ 16,870 Net income $ 5,759 $ 4,333 Nine Months Ended September 30, (In thousands) 2019 2018 Operating distributions received $ 5,589 $ 4,522 Capital distributions received 5,851 5,866 Total distributions received $ 11,440 $ 10,388

Other Assets (Tables)

Other Assets (Tables)	9 Months Ended
	Sep. 30, 2019
Other Assets [Abstract]
Schedule of Other Assets	(In thousands) September 30, 2019 December 31, 2018 Restricted cash $ 121 $ 121 Prepaid expenses 10,750 7,830 Other indefinite-lived intangibles 1,988 1,988 Furniture, fixtures and equipment, net 2,307 1,101 Other 3,570 3,719 Total other assets $ 18,736 $ 14,759

Secured Notes Payable and Rev_2

Secured Notes Payable and Revolving Credit Facility, Net (Tables)	9 Months Ended
	Sep. 30, 2019
Debt Disclosure [Abstract]
Schedule of Secured Notes Payable and Revolving Credit Facility	Description Maturity Date (1) Principal Balance as of September 30, 2019 Principal Balance as of December 31, 2018 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date (In thousands) Wholly Owned Subsidiaries Fannie Mae loan (3) — $ — $ 145,000 — — — Fannie Mae loan (3) — — 115,000 — — — Term loan (3) — — 220,000 — — — Term loan (3) — — 340,000 — — — Term loan (3) — — 400,000 — — — Term loan (3) — — 180,000 — — — Term loan (4)(5) 6/23/2023 360,000 360,000 LIBOR + 1.55% 2.57% 7/1/2021 Term loan (5) 1/1/2024 300,000 300,000 LIBOR + 1.55% 3.46% 1/1/2022 Term loan (5) 3/3/2025 335,000 335,000 LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (5)(6) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.84% 3/1/2023 Term loan (5)(7)(8) 8/15/2026 415,000 — LIBOR + 1.10% 2.58% 8/1/2025 Term loan (5)(7) 9/19/2026 400,000 — LIBOR + 1.15% 2.44% 9/1/2024 Term loan (5)(7)(9) 9/26/2026 200,000 — LIBOR + 1.20% 2.77% 10/1/2024 Fannie Mae loan (5) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Fannie Mae loan (5)(7) 6/1/2029 255,000 — LIBOR + 0.98% 3.26% 6/1/2027 Fannie Mae loan (5)(7)(10) 6/1/2029 125,000 — LIBOR + 0.98% 2.55% 6/1/2027 Term loan (11) 6/1/2038 31,046 31,582 N/A 4.55% N/A Revolving credit facility (12) 8/21/2023 — 105,000 LIBOR + 1.15% N/A N/A Total Wholly Owned Subsidiary Debt 3,073,446 3,183,982 Consolidated JVs Term loan (5) 2/28/2023 580,000 580,000 LIBOR + 1.40% 2.37% 3/1/2021 Term loan (5) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Term loan (5) (7) 6/1/2029 160,000 — LIBOR + 0.98% 3.25% 7/1/2027 Total Consolidated Debt (13) 4,213,446 4,163,982 Unamortized loan premium, net 3,832 3,986 Unamortized deferred loan costs, net (40,311 ) (33,938 ) Total Consolidated Debt, net $ 4,176,967 $ 4,134,030 _______________________________________________________________________ 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) Effective rate as of September 30, 2019 . Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees. See Note 10 for details of our interest rate swaps. See below for details of our loan costs. (3) These loans were paid off during the nine months ended September 30, 2019 . (4) We paid this loan off on November 1, 2019. See Note 17. (5) The loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (6) The effective rate will decrease to 2.76% on March 2, 2020 . (7) These loans were closed during the nine months ended September 30, 2019 . (8) Effective rate will increase to 3.07% on April 1, 2020 . (9) Effective rate will decrease to 2.36% on July 1, 2020 . (10) Effective rate will increase to 3.25% on December 1, 2020 . (11) Requires monthly payments of principal and interest. Principal amortization is based upon a 30 -year amortization schedule. (12) In March 2019, we renewed our $400.0 million revolving credit facility, releasing two previously encumbered properties, lowering the borrowing rate and unused facility fees, and extending the maturity date. Unused commitment fees range from 0.10% to 0.15% . The loan agreement includes a zero-percent LIBOR floor. (13) The table does not include our unconsolidated Funds' loans - see Note 16 . See Note 13 for our fair value disclosures. Debt Statistics The following table summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of September 30, 2019 Principal Balance as of December 31, 2018 Aggregate swapped to fixed rate loans $ 4,182,400 $ 3,882,400 Aggregate fixed rate loans 31,046 31,582 Aggregate floating rate loans — 250,000 Total Debt $ 4,213,446 $ 4,163,982 The following table summarizes certain consolidated debt statistics as of September 30, 2019 : Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $4.21 Weighted average remaining life (including extension options) 6.2 years Weighted average remaining fixed interest period 3.9 years Weighted average annual interest rate 3.00%
Schedule of Future Minimum Principal Payments Due on Secured Notes Payable and Revolving Credit Facility	At September 30, 2019 , the minimum future principal payments due on our consolidated secured notes payable and revolving credit facility were as follows: Twelve months ending September 30: Excluding Maturity Extension Options Including Maturity Extension Options (1) (In thousands) 2020 $ 743 $ 743 2021 778 778 2022 300,814 814 2023 1,275,852 940,852 2024 891 300,891 Thereafter 2,634,368 2,969,368 Total future principal payments $ 4,213,446 $ 4,213,446 ____________________________________________ (1) Some of our loan agreements 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 September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Loan costs expensed $ 1,751 $ — $ 1,751 $ — Deferred loan costs written off 4,416 7 4,992 411 Deferred loan cost amortization 1,807 1,999 5,611 5,874 Total $ 7,974 $ 2,006 $ 12,354 $ 6,285

Interest Payable, Accounts Pa_2

Interest Payable, Accounts Payable and Deferred Revenue (Tables)	9 Months Ended
	Sep. 30, 2019
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Interest Payable, Accounts Payable and Deferred Revenue	(In thousands) September 30, 2019 December 31, 2018 Interest payable $ 9,537 $ 10,657 Accounts payable and accrued liabilities 79,749 75,111 Deferred revenue 45,658 44,386 Total interest payable, accounts payable and deferred revenue $ 134,944 $ 130,154

Derivative Contracts (Tables)

Derivative Contracts (Tables)	9 Months Ended
	Sep. 30, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Derivatives	As of September 30, 2019 , 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)(2)(4)(5) 38 $ 4,684,800 Unconsolidated Funds' derivatives (3)(4) 4 $ 510,000 ___________________________________________________ (1) The notional amount reflects 100% , not our pro-rata share, of our consolidated JVs' derivatives. (2) Includes forward swaps with a total notional of $502.4 million . (3) The notional amount reflects 100% , not our pro-rata share, of our unconsolidated Funds' derivatives. (4) See Note 13 for our derivative fair value disclosures. (5) See Note 17 for swaps that we executed after September 30, 2019 .
Schedule of Fair Value of Interest Rate Swap Contract Liabilities	The fair value of our interest rate swap contract liabilities, including accrued interest and excluding credit risk adjustments, was as follows: (In thousands) September 30, 2019 December 31, 2018 Consolidated derivatives (1) $ 80,832 $ 1,681 Unconsolidated Funds' derivatives (2) $ 3,970 $ — ___________________________________________________ (1) Includes 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.
Schedule of Fair Value of Interest Rate Swap Contract Assets	The fair value of our interest rate swap contract assets, including accrued interest and excluding credit risk adjustments, was as follows: (In thousands) September 30, 2019 December 31, 2018 Consolidated derivatives (1) $ 13,238 $ 76,021 Unconsolidated Funds' derivatives (2) $ 1,136 $ 12,576 ___________________________________________________ (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) Nine Months Ended September 30, 2019 2018 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gain recorded in AOCI - adoption of ASU 2017-12 (1) $ — $ 211 (Loss) gain recorded in AOCI before reclassifications (1) $ (116,251 ) $ 70,806 Gains reclassified from AOCI to Interest Expense (1) $ (22,202 ) $ (5,316 ) Interest Expense presented in the consolidated statements of operations $ (107,753 ) $ (99,889 ) Unconsolidated Funds' derivatives (our share) (2) : (Loss) gain recorded in AOCI before reclassifications (1) $ (7,995 ) $ 8,087 Gains reclassified from AOCI to Income, including depreciation, from unconsolidated Funds (1) $ (1,652 ) $ (383 ) Income, including depreciation, from unconsolidated Funds presented in the consolidated statements of operations $ 5,589 $ 4,522 ___________________________________________________ (1) See Note 11 for our AOCI reconciliation. (2) We calculate our share by multiplying the total amount for each Fund by our direct and indirect equity interest in the respective Fund.
Schedule of Future Reclassifications from AOCI	At September 30, 2019 , 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: Losses to be reclassified from AOCI to Interest Expense $ 1,581 Unconsolidated Funds' derivatives (our share): Losses to be reclassified from AOCI to Income, including depreciation, from unconsolidated Funds $ 226

Equity (Tables)

Equity (Tables)	9 Months Ended
	Sep. 30, 2019
Stockholders' Equity Note [Abstract]
Schedule of 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: Nine Months Ended September 30, (In thousands) 2019 2018 Net income attributable to common stockholders $ 85,155 $ 90,451 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 3,209 5,720 Repurchase of OP Units from noncontrolling interests (431 ) (59 ) Net transfers from noncontrolling interests 2,778 5,661 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 87,933 $ 96,112
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: Nine Months Ended September 30, (In thousands) 2019 2018 Beginning balance $ 53,944 $ 43,099 Adoption of ASU 2017-12 - cumulative opening balance adjustment — 211 Consolidated derivatives: Other comprehensive (loss) income before reclassifications (116,251 ) 70,806 Reclassification of gains from AOCI to Interest Expense (22,202 ) (5,316 ) Unconsolidated Funds' derivatives (our share) (2) : Other comprehensive (loss) income before reclassifications (7,995 ) 8,087 Reclassification of gains from AOCI to Income, including depreciation, from unconsolidated Funds (1,652 ) (383 ) Net current period OCI (148,100 ) 73,405 OCI attributable to noncontrolling interests 45,278 (21,861 ) OCI attributable to common stockholders (102,822 ) 51,544 Ending balance $ (48,878 ) $ 94,643 ___________________________________________________ (1) See Note 10 for the details of our derivatives and Note 13 for our derivative fair value disclosures. (2) We calculate our share by multiplying the total amount for each Fund by our equity interest in the respective Fund.
Schedule of Stock-based Compensation Expense	The table below presents our stock-based compensation expense: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 Stock-based compensation expense, net $ 2,382 $ 2,932 $ 7,395 $ 8,879 Capitalized stock-based compensation $ 622 $ 512 $ 1,630 $ 1,460 Intrinsic value of options exercised $ — $ 393 $ — $ 1,196

EPS (Tables)

EPS (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Numerator (In thousands): Net income attributable to common stockholders $ 22,488 $ 30,561 $ 85,155 $ 90,451 Allocation to participating securities: Unvested LTIP Units (87 ) (149 ) (350 ) (442 ) Net income attributable to common stockholders - basic and diluted $ 22,401 $ 30,412 $ 84,805 $ 90,009 Denominator (In thousands): Weighted average shares of common stock outstanding - basic 175,278 169,926 172,684 169,815 Effect of dilutive securities: Stock options (1) — 5 — 13 Weighted average shares of common stock and common stock equivalents outstanding - diluted 175,278 169,931 172,684 169,828 Net income per common share - basic $ 0.13 $ 0.18 $ 0.49 $ 0.53 Net income per common share - diluted $ 0.13 $ 0.18 $ 0.49 $ 0.53 ____________________________________________________ (1) There were no outstanding options during the nine months ended September 30, 2019 . The following securities were excluded from the calculation of diluted EPS during the periods noted because including them for those periods would be anti-dilutive to the calculation: Three Months Ended September 30, Nine Months Ended September 30, (In thousands) 2019 2018 2019 2018 OP Units 26,211 26,630 26,278 26,736 Vested LTIP Units 1,838 812 1,833 807

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	9 Months Ended
	Sep. 30, 2019
Fair Value Disclosures [Abstract]
Schedule of Estimated Fair Value and Carrying Value of Liabilities	The table below presents the estimated fair value and carrying value of our secured notes payable (excluding our revolving credit facility), the carrying value includes unamortized loan premium and excludes unamortized deferred loan fees: (In thousands) September 30, 2019 December 31, 2018 Fair value $ 4,237,849 $ 4,087,979 Carrying value $ 4,213,446 $ 4,062,968 (In thousands) September 30, 2019 Fair value $ 12,760 Carrying value $ 10,884
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below presents the estimated fair value of our derivatives: (In thousands) September 30, 2019 December 31, 2018 Derivative Assets: Fair value - consolidated derivatives (1) $ 11,925 $ 73,414 Fair value - unconsolidated Funds' derivatives (2) $ 1,034 $ 12,228 Derivative Liabilities: Fair value - consolidated derivatives (1) $ 78,111 $ 1,530 Fair value - unconsolidated Funds' derivatives (2) $ 4,009 $ — ____________________________________________________ (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 Funds in our consolidated balance sheets. See Note 16 regarding our unconsolidated Funds debt and derivatives.

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 2019
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Office Segment Total office revenues $ 205,900 $ 197,054 $ 605,379 $ 578,148 Office expenses (68,754 ) (66,288 ) (196,511 ) (188,462 ) Office segment profit 137,146 130,766 408,868 389,686 Multifamily Segment Total multifamily revenues 32,169 26,282 87,410 76,904 Multifamily expenses (9,127 ) (7,142 ) (24,394 ) (20,748 ) Multifamily segment profit 23,042 19,140 63,016 56,156 Total profit from all segments $ 160,188 $ 149,906 $ 471,884 $ 445,842
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 September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Total profit from all segments $ 160,188 $ 149,906 $ 471,884 $ 445,842 General and administrative expenses (9,218 ) (9,440 ) (28,209 ) (28,444 ) Depreciation and amortization (90,279 ) (74,067 ) (248,876 ) (219,944 ) Other income 2,952 2,951 8,742 8,373 Other expenses (1,656 ) (1,561 ) (5,308 ) (5,380 ) Income, including depreciation, from unconsolidated Funds 1,831 1,348 5,589 4,522 Interest expense (40,397 ) (33,721 ) (107,753 ) (99,889 ) Net income 23,421 35,416 96,069 105,080 Less: Net income attributable to noncontrolling interests (933 ) (4,855 ) (10,914 ) (14,629 ) Net income attributable to common stockholders $ 22,488 $ 30,561 $ 85,155 $ 90,451

Future Minimum Lease Rental R_2

Future Minimum Lease Rental Receipts (Tables)	9 Months Ended
	Sep. 30, 2019
Lessor Disclosure [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 September 30, 2019 : Twelve months ending September 30: (In thousands) 2020 $ 603,132 2021 529,062 2022 442,362 2023 357,131 2024 273,685 Thereafter 673,833 Total future minimum base rentals (1) $ 2,879,205 _____________________________________________________ (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.

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees (Tables)	9 Months Ended
	Sep. 30, 2019
Commitments and Contingencies Disclosure [Abstract]
Schedule of Debt Related to Unconsolidated Funds	The table below summarizes our Funds' debt as of September 30, 2019 . 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) 7/1/2024 400.0 LIBOR + 1.65% 3.44% 7/1/2022 $ 510.0 ___________________________________________________ (1) See Note 6 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 September 30, 2019 , assuming a zero -percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $1.4 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 September 30, 2019 , assuming a zero -percent LIBOR interest rate during the remaining life of the swap, the maximum future payments under the swap agreement were $20.0 million . 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. (4) Loan agreement includes a zero -percent LIBOR floor. The corresponding swaps do not include such a floor.

Overview - Narrative (Details)

Overview - Narrative (Details) $ in Thousands, ft² in Millions	Sep. 30, 2019USD ($)ft²land_parceljoint_ventureunit	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2017USD ($)
Real Estate Properties [Line Items]
Consolidated debt	$ 4,213,446		$ 4,163,982
Number of joint ventures consolidated | joint_venture	3
Consolidated assets	$ 8,520,895		8,261,709
Consolidated investment in real estate	8,056,841		7,783,821
Consolidated liabilities	4,536,833		4,413,279
Consolidated liabilities related to debt	4,176,967		4,134,030
Consolidated equity	3,984,062	$ 4,052,360	3,848,430	$ 3,923,541	$ 3,930,286	$ 3,902,049
Consolidated equity related to noncontrolling interest	$ 1,533,192		1,446,098
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	16.5
Wholly owned and Consolidated properties | Multifamily
Real Estate Properties [Line Items]
Number of multifamily apartment units | unit	4,147
Unconsolidated Fund properties | Office
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	1.8
Subsidiaries
Real Estate Properties [Line Items]
Consolidated debt	$ 3,073,446		$ 3,183,982
Consolidated entities
Real Estate Properties [Line Items]
Consolidated assets	8,520,000
Consolidated investment in real estate	8,060,000
Consolidated liabilities	4,540,000
Consolidated liabilities related to debt	4,180,000
Consolidated equity	3,980,000
Consolidated equity related to noncontrolling interest	$ 1,530,000

Overview - Schedule of Properti

Overview - Schedule of Properties Portfolio (Details)	Sep. 30, 2019property
Real Estate Properties [Line Items]
Number of properties	83
Office
Real Estate Properties [Line Items]
Number of properties	72
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	11
Office | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Number of properties	8
Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	10
Consolidated Portfolio
Real Estate Properties [Line Items]
Number of properties	75
Consolidated Portfolio | Office
Real Estate Properties [Line Items]
Number of properties	64
Consolidated Portfolio | Office | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	53
Consolidated Portfolio | Office | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	11
Consolidated Portfolio | Office | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Number of properties	0
Consolidated Portfolio | Multifamily
Real Estate Properties [Line Items]
Number of properties	11
Consolidated Portfolio | Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	10
Consolidated Portfolio | Multifamily | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	1

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details) - USD ($) $ in Thousands	Jan. 01, 2019	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Accounting Policies [Abstract]
Office parking revenue		$ 27,300	$ 26,000	$ 80,500	$ 76,800
Office parking receivables		1,200		1,200		$ 1,100
New Accounting Pronouncements [Line Items]
Leasing costs related to tenant leases expensed		1,000		3,100
Lease liability		10,884		10,884
Above-market ground lease intangible liability offset against right-of-use asset				3,408
Right-of-use asset		$ 7,481		$ 7,481
ASU No. 2016-02
New Accounting Pronouncements [Line Items]
Cumulative adjustment upon adoption of new accounting standard	$ 2,499
Lease liability	10,900
Above-market ground lease intangible liability offset against right-of-use asset	3,400
Right-of-use asset	7,500
Accumulated Deficit | ASU No. 2016-02
New Accounting Pronouncements [Line Items]
Cumulative adjustment upon adoption of new accounting standard	2,144
Noncontrolling Interests | ASU No. 2016-02
New Accounting Pronouncements [Line Items]
Cumulative adjustment upon adoption of new accounting standard	$ 355

Investment in Real Estate - Pur

Investment in Real Estate - Purchase Price Allocation for Acquisitions (Details) ft² in Thousands, $ in Thousands	Jun. 28, 2019	Jun. 07, 2019USD ($)ft²unit
Schedule Of Asset Acquisitions [Line Items]
Contract price		$ 365,100
Consolidated JV
Schedule Of Asset Acquisitions [Line Items]
Capital interest in consolidated JV (percent)	20.00%
The Glendon
Schedule Of Asset Acquisitions [Line Items]
Contract price		$ 365,100
Number of multifamily units | unit		350
Retail square footage | ft²		50
Investment in real estate:
Tenant improvements and lease intangibles		$ 2,301
Acquired above- and below-market leases, net		(2,114)
Net assets and liabilities acquired		366,584
The Glendon | Land
Investment in real estate:
Land, Buildings and Improvements		32,773
The Glendon | Buildings and improvements
Investment in real estate:
Land, Buildings and Improvements		$ 333,624

Ground Lease - Narrative (Detai

Ground Lease - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Lessee Disclosure [Abstract]
Fixed rent payments due per year on ground lease	$ 733		$ 733
Ground lease right-of-use asset	7,481		7,481
Ground lease liability	10,884		10,884
Ground rent expense	$ 170		$ 532
Ground rent expense		$ 183		$ 550

Ground Lease - Future Minimum G

Ground Lease - Future Minimum Ground Lease Payments (Details) $ in Thousands	Sep. 30, 2019USD ($)
Future Minimum Ground Lease Payments
2020	$ 733
2021	733
2022	733
2023	733
2024	733
Thereafter	45,628
Total future minimum lease payments	$ 49,293

Acquired Lease Intangibles - Su

Acquired Lease Intangibles - Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 2,877	$ 3,251
Acquired lease intangible liabilities, net	38,384	52,569
Above Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	3,745	5,595
Accumulated amortization	(1,800)	(3,289)
Below Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, liabilities	86,159	112,175
Accumulated accretion	(47,775)	(63,013)
Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	1,152	1,152
Accumulated amortization	(220)	(207)
Off-market lease, liabilities	0	4,017
Accumulated accretion	$ 0	$ (610)

Acquired Lease Intangibles - Im

Acquired Lease Intangibles - Impact on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ 4,003	$ 4,948	$ 12,519	$ 17,243
Rental revenues | Tenant Lease
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	4,009	4,940	12,533	17,218
Office parking and other income | Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	(6)	(5)	(14)	(13)
Office expenses | Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ 0	$ 13	$ 0	$ 38

Investments in Unconsolidated_3

Investments in Unconsolidated Funds - Narrative (Details) ft² in Millions	9 Months Ended
	Sep. 30, 2019ft²fundproperty
Schedule of Equity Method Investments [Line Items]
Number of properties	83
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]
Purchase of additional equity interest (percent)	1.40%
Equity interest of the Fund, percent	72.70%
Partnership X
Schedule of Equity Method Investments [Line Items]
Equity interest of the Fund, percent	24.60%
Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of real estate funds owned and managed | fund	3
Office Buildings
Schedule of Equity Method Investments [Line Items]
Number of properties	72
Office Buildings | Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of properties	8
Area of real estate portfolio (sq ft) | ft²	1.8

Investments in Unconsolidated_4

Investments in Unconsolidated Funds - Summary of Cash Distributions Received from Funds (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Real Estate Investments, Net [Abstract]
Operating distributions received	$ 5,589	$ 4,522
Capital distributions received	5,851	5,866
Total distributions received	$ 11,440	$ 10,388

Investments in Unconsolidated_5

Investments in Unconsolidated Funds - Summary of Statement of Financial Position for Investments in Unconsolidated Funds (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Real Estate Investments, Net [Abstract]
Total assets	$ 677,022	$ 694,713
Total liabilities	533,467	525,483
Total equity	$ 143,555	$ 169,230

Investments in Unconsolidated_6

Investments in Unconsolidated Funds - Summary of Statement of Operations for Investments in Unconsolidated Funds (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Real Estate Investments, Net [Abstract]
Total revenues	$ 62,239	$ 58,935
Operating income	18,033	16,870
Net income	$ 5,759	$ 4,333

Other Assets - Summary of Other

Other Assets - Summary of Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Other Assets [Abstract]
Restricted cash	$ 121	$ 121
Prepaid expenses	10,750	7,830
Other indefinite-lived intangibles	1,988	1,988
Furniture, fixtures and equipment, net	2,307	1,101
Other	3,570	3,719
Total other assets	$ 18,736	$ 14,759

Secured Notes Payable and Rev_3

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Secured Notes Payable and Revolving Credit Facility (Details)	1 Months Ended	9 Months Ended
	Mar. 31, 2019USD ($)property	Sep. 30, 2019USD ($)collateral_poolproperty	Dec. 01, 2020	Jul. 01, 2020	Apr. 01, 2020	Mar. 02, 2020	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Principal Balance		$ 4,213,446,000					$ 4,163,982,000
Unamortized loan premium, net		3,832,000					3,986,000
Unamortized deferred loan costs, net		(40,311,000)					(33,938,000)
Total Consolidated Debt, Net		$ 4,176,967,000					4,134,030,000
Minimum number of separate collateral pools used to secure loans | collateral_pool		1
Minimum number of properties in collateral pools | property		1
Number of previously encumbered properties released | property	2
Secured Debt | LIBOR
Debt Instrument [Line Items]
Loan agreement LIBOR floor		0.00%
Secured Debt | Term Loan at 4.55% Jun 01 2038
Debt Instrument [Line Items]
Principal amortization period (in years)		30 years
Wholly Owned Subsidiaries
Debt Instrument [Line Items]
Principal Balance		$ 3,073,446,000					3,183,982,000
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan with Maturity Oct 01 2019
Debt Instrument [Line Items]
Principal Balance							145,000,000
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan with Maturity Dec 01 2025
Debt Instrument [Line Items]
Principal Balance							115,000,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.62% Dec 23 2023
Debt Instrument [Line Items]
Principal Balance							220,000,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.77% Apr 15 2022
Debt Instrument [Line Items]
Principal Balance							340,000,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.64% Nov 01 2022
Debt Instrument [Line Items]
Principal Balance							400,000,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.06% Jul 27 2022
Debt Instrument [Line Items]
Principal Balance							180,000,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.57% Jun 23 2023
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 at 2.57% Jun 23 2023 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.55%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.46% Jan 01 2024
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 at 3.46% Jan 01 2024 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.55%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.84% Mar 03 2025
Debt Instrument [Line Items]
Maturity Date		Mar. 3, 2025
Principal Balance		$ 335,000,000					335,000,000
Variable Interest Rate		LIBOR + 1.30%
Fixed Interest Rate		3.84%
Swap Maturity Date		Mar. 1, 2023
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.84% Mar 03 2025 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.30%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.84% Apr 01 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, 2023
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.84% Apr 01 2025 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.25%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.58% Aug 15 2026
Debt Instrument [Line Items]
Maturity Date		Aug. 15, 2026
Principal Balance		$ 415,000,000					0
Variable Interest Rate		LIBOR + 1.10%
Fixed Interest Rate		2.58%
Swap Maturity Date		Aug. 1, 2025
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.58% Aug 15 2026 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.10%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.44% Sep 19 2026
Debt Instrument [Line Items]
Maturity Date		Sep. 19, 2026
Principal Balance		$ 400,000,000					0
Variable Interest Rate		LIBOR + 1.15%
Fixed Interest Rate		2.44%
Swap Maturity Date		Sep. 1, 2024
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.44% Sep 19 2026 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.15%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.77% Sep 26 2026
Debt Instrument [Line Items]
Maturity Date		Sep. 26, 2026
Principal Balance		$ 200,000,000					0
Variable Interest Rate		LIBOR + 1.20%
Fixed Interest Rate		2.77%
Swap Maturity Date		Oct. 1, 2024
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.77% Sep 26 2026 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.20%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.16% Jun 01 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 Loan at 3.16% Jun 01 2027 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.37%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.26% Jun 01 2029
Debt Instrument [Line Items]
Maturity Date		Jun. 1, 2029
Principal Balance		$ 255,000,000					0
Variable Interest Rate		LIBOR + 0.98%
Fixed Interest Rate		3.26%
Swap Maturity Date		Jun. 1, 2027
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.26% Jun 01 2029 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		0.98%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.55% Jun 01 2029
Debt Instrument [Line Items]
Maturity Date		Jun. 1, 2029
Principal Balance		$ 125,000,000					0
Variable Interest Rate		LIBOR + 0.98%
Fixed Interest Rate		2.55%
Swap Maturity Date		Jun. 1, 2027
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.55% Jun 01 2029 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		0.98%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 4.55% Jun 01 2038
Debt Instrument [Line Items]
Maturity Date		Jun. 1, 2038
Principal Balance		$ 31,046,000					31,582,000
Fixed Interest Rate		4.55%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility with Maturity Aug 21 2023
Debt Instrument [Line Items]
Maturity Date		Aug. 21, 2023
Principal Balance		$ 0					105,000,000
Variable Interest Rate		LIBOR + 1.15%
Maximum borrowing capacity	$ 400,000,000
Loan agreement LIBOR floor		0.00%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility with Maturity Aug 21 2023 | Minimum
Debt Instrument [Line Items]
Unused commitment fees (as a percent)		0.10%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility with Maturity Aug 21 2023 | Maximum
Debt Instrument [Line Items]
Unused commitment fees (as a percent)		0.15%
Wholly Owned Subsidiaries | Line of Credit | Revolving Credit Facility with Maturity Aug 21 2023 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.15%
Consolidated JV | Secured Debt | Term Loan at 2.37% Feb 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 at 2.37% Feb 28 2023 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.40%
Consolidated JV | Secured Debt | Term Loan at 3.47% Dec 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 at 3.47% Dec 19 2024 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		1.30%
Consolidated JV | Secured Debt | Term Loan at 3.25% Jun 01 2029
Debt Instrument [Line Items]
Maturity Date		Jun. 1, 2029
Principal Balance		$ 160,000,000					$ 0
Variable Interest Rate		LIBOR + 0.98%
Fixed Interest Rate		3.25%
Swap Maturity Date		Jul. 1, 2027
Consolidated JV | Secured Debt | Term Loan at 3.25% Jun 01 2029 | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)		0.98%
Forecast | Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.84% Apr 01 2025
Debt Instrument [Line Items]
Fixed Interest Rate						2.76%
Forecast | Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.58% Aug 15 2026
Debt Instrument [Line Items]
Fixed Interest Rate					3.07%
Forecast | Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.77% Sep 26 2026
Debt Instrument [Line Items]
Fixed Interest Rate				2.36%
Forecast | Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.55% Jun 01 2029
Debt Instrument [Line Items]
Fixed Interest Rate			3.25%

Secured Notes Payable and Rev_4

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Debt Statistics (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Dec. 31, 2018
Debt Disclosure [Abstract]
Principal balance of consolidated fixed rate debt	$ 4,210,000
Weighted average remaining life (including extension options) of consolidated fixed rate debt (in years)	6 years 2 months 12 days
Weighted average remaining fixed interest period of consolidated fixed rate debt (in years)	3 years 10 months 24 days
Weighted average annual interest rate of consolidated fixed rate debt (as a percent)	3.00%
Debt Instrument [Line Items]
Principal Balance	$ 4,213,446	$ 4,163,982
Aggregate Swapped to Fixed Rate Loans
Debt Instrument [Line Items]
Principal Balance	4,182,400	3,882,400
Aggregate Fixed Rate Loans
Debt Instrument [Line Items]
Principal Balance	31,046	31,582
Aggregate Floating Rate Loans
Debt Instrument [Line Items]
Principal Balance	$ 0	$ 250,000

Secured Notes Payable and Rev_5

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Future Principal Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Excluding Maturity Extension Options
2020	$ 743
2021	778
2022	300,814
2023	1,275,852
2024	891
Thereafter	2,634,368
Total future principal payments	4,213,446	$ 4,163,982
Including Maturity Extension Options
2020	743
2021	778
2022	814
2023	940,852
2024	300,891
Thereafter	2,969,368
Total future principal payments	$ 4,213,446	$ 4,163,982

Secured Notes Payable and Rev_6

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Loan Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Debt Disclosure [Abstract]
Accumulated amortization on deferred loan costs	$ 28,900		$ 28,900		$ 24,200
Loan Costs Included In Interest Expense
Deferred loan cost amortization			10,603	$ 6,285
Interest Expense
Loan Costs Included In Interest Expense
Loan costs expensed	1,751	$ 0	1,751	0
Deferred loan costs written off	4,416	7	4,992	411
Deferred loan cost amortization	1,807	1,999	5,611	5,874
Total	$ 7,974	$ 2,006	$ 12,354	$ 6,285

Interest Payable, Accounts Pa_3

Interest Payable, Accounts Payable and Deferred Revenue - Summary of Balances (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Accounts Payable and Accrued Liabilities [Abstract]
Interest payable	$ 9,537	$ 10,657
Accounts payable and accrued liabilities	79,749	75,111
Deferred revenue	45,658	44,386
Total interest payable, accounts payable and deferred revenue	$ 134,944	$ 130,154

Derivative Contracts - Summary

Derivative Contracts - Summary of Derivatives (Details) - Interest Rate Swap - Derivatives Designated as Cash Flow Hedges - Cash Flow Hedging $ in Thousands	Sep. 30, 2019USD ($)instrument
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	38
Notional	$ 4,684,800
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%
Forward swap
Derivative [Line Items]
Notional	$ 502,400

Derivative Contracts - Credit-r

Derivative Contracts - Credit-risk related Contingent Features (Details) - Interest Rate Swap - Derivatives Designated as Cash Flow Hedges - Cash Flow Hedging - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Fair value derivatives in net liability position	$ 80,832	$ 1,681
Percent of notional amount related to the Fund	100.00%
Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Fair value derivatives in net liability position	$ 3,970	$ 0
Percent of notional amount related to the Fund	100.00%

Derivative Contracts - Counterp

Derivative Contracts - Counterparty Credit Risk (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 11,925	$ 73,414
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	$ 13,238	76,021
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	$ 1,136	$ 12,576
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Derivative [Line Items]
Gain recorded in AOCI - adoption of ASU 2017-12			$ 0	$ 211
(Loss) gain recorded in AOCI before reclassifications			(116,251)	70,806
Interest Expense presented in the consolidated statements of operations	$ (40,397)	$ (33,721)	(107,753)	(99,889)
Income, including depreciation, from unconsolidated Funds	$ 1,831	$ 1,348	5,589	4,522
Unconsolidated Funds
Derivative [Line Items]
(Loss) gain recorded in AOCI before reclassifications			(7,995)	8,087
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges
Derivative [Line Items]
Gain recorded in AOCI - adoption of ASU 2017-12			0	211
(Loss) gain recorded in AOCI before reclassifications			(116,251)	70,806
(Gain) loss reclassified from AOCI to Interest Expense			(22,202)	(5,316)
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges | Unconsolidated Funds
Derivative [Line Items]
(Loss) gain recorded in AOCI before reclassifications			(7,995)	8,087
(Gain) loss reclassified from AOCI to Interest Expense			$ (1,652)	$ (383)

Derivative Contracts - Future R

Derivative Contracts - Future Reclassifications from AOCI (Details) $ in Thousands	Sep. 30, 2019USD ($)
Derivative Instruments, Gain (Loss) [Line Items]
Losses to be reclassified from AOCI	$ 1,581
Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Losses to be reclassified from AOCI	$ 226

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($)	Jun. 28, 2019	Jun. 07, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Dec. 31, 2018
Schedule of Equity Method Investments [Line Items]
Number common shares issued in exchange for equal number of OP Units (shares)				201,000	352,000
Number of OP units and fully-vested LTIP Units redeemed (shares)				19,000	3,000
Cash paid for repurchase OP Units			$ 227,000	$ 734,000	$ 108,000
Shares issued under ATM program (shares)				4,900,000
Net proceeds from issuance of common stock				$ 201,200,000
Shares of common stock issued for exercise of stock options (shares)					21,000
Stock options exercised (shares)					48,000
Contract price for purchased property		$ 365,100,000
Capital contribution to consolidated JV	$ 44,000,000
Noncontrolling interests contributions to consolidated JV	$ 176,000,000
Outstanding common stock (in shares)			175,348,468	175,348,468		170,214,809
Number of shares of common stock issued upon redemption of one OP unit (shares)				1
Consolidated JV
Schedule of Equity Method Investments [Line Items]
Capital interest in consolidated JV (percent)	20.00%
Operating Partnership
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests ownership in the Operating Partnership (units)			28,000,000	28,000,000
Noncontrolling interests ownership in the Operating Partnership (percent)			14.00%	14.00%
Secured Debt | Term Loan at 3.25% Jun 01 2029
Schedule of Equity Method Investments [Line Items]
Debt instrument face amount		$ 160,000,000

Equity - Changes in Ownership I

Equity - Changes in Ownership Interest in Operating Partnership (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Net income attributable to common stockholders	$ 22,488	$ 30,561	$ 85,155	$ 90,451
Transfers from noncontrolling interests:
Exchange of OP Units with noncontrolling interests			3,209	5,720
Repurchase of OP Units from noncontrolling interests			(431)	(59)
Net transfers from noncontrolling interests			2,778	5,661
Change from net income attributable to common stockholders and transfers from noncontrolling interests			$ 87,933	$ 96,112

Equity - AOCI Reconciliation (D

Equity - AOCI Reconciliation (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Jan. 01, 2018
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,848,430	$ 3,902,049
Other comprehensive (loss) income before reclassifications	(116,251)	70,806
Reclassification of gains from AOCI	(22,202)	(5,316)
Net current period OCI	(148,100)	73,405
OCI attributable to noncontrolling interests	45,278	(21,861)
OCI attributable to common stockholders	(102,822)	51,544
Ending balance	3,984,062	3,923,541
Fund X
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive (loss) income before reclassifications	(7,995)	8,087
Reclassification of gains from AOCI	(1,652)	(383)
AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	53,944	43,099
Beginning balance adjustment - cumulative effect of new accounting principle			$ 211
Ending balance	$ (48,878)	$ 94,643

Equity - Equity Compensation (D

Equity - Equity Compensation (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Stockholders' Equity Note [Abstract]
Stock-based compensation expense, net	$ 2,382	$ 2,932	$ 7,395	$ 8,879
Capitalized stock-based compensation	622	512	1,630	1,460
Intrinsic value of options exercised	$ 0	$ 393	$ 0	$ 1,196

EPS - Calculation of Basic and

EPS - Calculation of Basic and Diluted EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 22,488	$ 30,561	$ 85,155	$ 90,451
Allocation to participating securities: Unvested LTIP Units	(87)	(149)	(350)	(442)
Net income attributable to common stockholders - basic	$ 22,401	$ 30,412	$ 84,805	$ 90,009
Weighted average shares of common stock outstanding - basic (in shares)	175,278,000	169,926,000	172,684,000	169,815,000
Effect of dilutive securities: Stock options (in shares)	0	5,000	0	13,000
Weighted average shares of common stock and common stock equivalents outstanding - diluted (in shares)	175,278,000	169,931,000	172,684,000	169,828,000
Net income per common share – basic (usd per share)	$ 0.13	$ 0.18	$ 0.49	$ 0.53
Net income per common share – diluted (usd per share)	$ 0.13	$ 0.18	$ 0.49	$ 0.53
Options outstanding (shares)	0		0
OP 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)	26,211,000	26,630,000	26,278,000	26,736,000
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)	1,838,000	812,000	1,833,000	807,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Instruments Disclosed at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ground lease liability	$ 10,884
Fair Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	4,237,849	$ 4,087,979
Ground lease liability	12,760
Carrying Value
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	4,213,446	$ 4,062,968
Ground lease liability	$ 10,884

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Derivative Assets:
Fair value - derivatives	$ 11,925	$ 73,414
Derivative Liabilities:
Fair value - derivatives	$ 78,111	1,530
Fund X | Interest Rate Swap
Derivative Liabilities:
Percent of notional amount related to the Fund	100.00%
Level 2
Derivative Assets:
Fair value - derivatives	$ 11,925	73,414
Derivative Liabilities:
Fair value - derivatives	78,111	1,530
Level 2 | Fund X
Derivative Assets:
Fair value - unconsolidated Funds' derivatives	1,034	12,228
Derivative Liabilities:
Fair value - unconsolidated Funds' derivatives	$ 4,009	$ 0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	9 Months Ended
	Sep. 30, 2019segment
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		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting Information [Line Items]
Total revenues	$ 238,069	$ 223,336	$ 692,789	$ 655,052
Segment profit	160,188	149,906	471,884	445,842
Office Segment
Segment Reporting Information [Line Items]
Total revenues	205,900	197,054	605,379	578,148
Operating expenses	(68,754)	(66,288)	(196,511)	(188,462)
Segment profit	137,146	130,766	408,868	389,686
Multifamily Segment
Segment Reporting Information [Line Items]
Total revenues	32,169	26,282	87,410	76,904
Operating expenses	(9,127)	(7,142)	(24,394)	(20,748)
Segment profit	$ 23,042	$ 19,140	$ 63,016	$ 56,156

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Profit to Net Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Segment Reporting [Abstract]
Total profit from all segments	$ 160,188	$ 149,906	$ 471,884	$ 445,842
General and administrative expenses	(9,218)	(9,440)	(28,209)	(28,444)
Depreciation and amortization	(90,279)	(74,067)	(248,876)	(219,944)
Other income	2,952	2,951	8,742	8,373
Other expenses	(1,656)	(1,561)	(5,308)	(5,380)
Income, including depreciation, from unconsolidated Funds	1,831	1,348	5,589	4,522
Interest expense	(40,397)	(33,721)	(107,753)	(99,889)
Net income	23,421	35,416	96,069	105,080
Less: Net income attributable to noncontrolling interests	(933)	(4,855)	(10,914)	(14,629)
Net income attributable to common stockholders	$ 22,488	$ 30,561	$ 85,155	$ 90,451

Future Minimum Lease Rental R_3

Future Minimum Lease Rental Receipts - Summary of Minimum Rental Receipts (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)land_parcel
Future Minimum Base Rentals
2020	$ 603,132
2021	529,062
2022	442,362
2023	357,131
2024	273,685
Thereafter	673,833
Total future minimum base rentals	$ 2,879,205
Maximum term of residential leases not included in total future minimum base rentals	1 year
Wholly-owned properties
Future Minimum Base Rentals
Number of land parcels subject to ground lease | land_parcel	2

Commitments, Contingencies an_3

Commitments, Contingencies and Guarantees - Narrative (Details) ft² in Thousands, $ in Millions	9 Months Ended
	Sep. 30, 2019USD ($)ft²apartmentbuilding
Other Commitments [Line Items]
Number of buildings containing asbestos | building	28
Unconsolidated Funds
Other Commitments [Line Items]
Number of buildings containing asbestos | building	4
Development Projects
Other Commitments [Line Items]
Aggregate remaining contractual commitment | $	$ 184.3
Development Projects | California
Other Commitments [Line Items]
Number of apartments under construction | apartment	376
Development Projects | Hawaii
Other Commitments [Line Items]
Number of apartments under construction | apartment	500
Square footage of office tower conversion (sq ft) | ft²	490
Repositionings, Capital Expenditure Projects, and Tenant Improvements
Other Commitments [Line Items]
Aggregate remaining contractual commitment | $	$ 24.7

Commitments, Contingencies an_4

Commitments, Contingencies and Guarantees - Schedule of Debt Related to Unconsolidated Funds (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)propertyday	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Principal Balance	$ 4,213,446	$ 4,163,982
Percentage of amounts related to the Funds	100.00%
Partnership X
Debt Instrument [Line Items]
Maximum future payments under swap agreement	$ 1,400
Partnership X | Floating rate term loan
Debt Instrument [Line Items]
Loan Maturity Date	Mar. 1, 2023
Principal Balance	$ 110,000
Number of properties to secure loan | property	2
Assumed LIBOR interest rate to assess maximum future payments under swap agreement	0.00%
Partnership X | Floating rate term loan | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)	1.40%
Partnership X | Interest rate swap
Debt Instrument [Line Items]
Swap Fixed Interest Rate	2.30%
Swap Maturity Date	Mar. 1, 2021
Fund X
Debt Instrument [Line Items]
Maximum future payments under swap agreement	$ 20,000
Loan agreement one-month LIBOR threshold for interest rate cap purchase requirement	3.56%
Loan agreement consecutive days threshold for interest rate cap purchase requirement | day	14
Fund X | Floating rate term loan
Debt Instrument [Line Items]
Loan Maturity Date	Jul. 1, 2024
Principal Balance	$ 400,000
Number of properties to secure loan | property	6
Assumed LIBOR interest rate to assess maximum future payments under swap agreement	0.00%
Fund X | Floating rate term loan | LIBOR
Debt Instrument [Line Items]
Variable Interest Rate - basis spread (percent)	1.65%
Fund X | Interest rate swap
Debt Instrument [Line Items]
Swap Fixed Interest Rate	3.44%
Swap Maturity Date	Jul. 1, 2022
Unconsolidated Funds
Debt Instrument [Line Items]
Percentage of amounts related to the Funds	100.00%
Unconsolidated Funds | Floating rate term loan
Debt Instrument [Line Items]
Principal Balance	$ 510,000
Loan agreement LIBOR floor	0.00%

Subsequent Events - Narrative (

Subsequent Events - Narrative (Details) - USD ($)	Nov. 01, 2019	Sep. 30, 2019	Sep. 30, 2018	Jul. 01, 2021	Oct. 31, 2024
Subsequent Event [Line Items]
Repayments of borrowings		$ 1,733,092,000	$ 595,151,000
Subsequent Event
Subsequent Event [Line Items]
Repayments of borrowings	$ 360,000,000
Subsequent Event | Secured Debt | Non-recourse Term Loan at 2.18% Nov 2026
Subsequent Event [Line Items]
Debt instrument face amount	$ 400,000,000
Subsequent Event | Secured Debt | Non-recourse Term Loan at 2.18% Nov 2026 | LIBOR
Subsequent Event [Line Items]
Basis spread on rate (percent)	1.15%
Forecast | Non-recourse Term Loan at 2.18% Nov 2026
Subsequent Event [Line Items]
Effectively fixed rate (percent)				2.18%	2.31%

Uncategorized Items - a2019q310

Label	Element	Value
Accounting Standards Update 2017-12 [Member] | Accumulated Distributions in Excess of Net Income [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ (211,000)
Accounting Standards Update 2017-12 [Member] | AOCI Attributable to Parent [Member]
Cumulative Effect of New Accounting Principle in Period of Adoption	us-gaap_CumulativeEffectOfNewAccountingPrincipleInPeriodOfAdoption	$ 211,000