Douglas Emmett (DEI) 10-Q 6 May 22 2022 Q1 Quarterly report Financial data

Cover

Cover - shares	3 Months Ended
	Mar. 31, 2022	Apr. 29, 2022
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2022
Document Transition Report	false
Entity File Number	001-33106
Entity Registrant Name	Douglas Emmett, Inc.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	20-3073047
Entity Address, Address Line One	1299 Ocean Avenue
Entity Address, Address Line Two	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		175,784,137
Entity Central Index Key	0001364250
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2022
Document Fiscal Period Focus	Q1
Amendment Flag	false

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Assets
Investment in real estate, gross	$ 11,841,693	$ 11,819,077
Less: accumulated depreciation and amortization	(3,096,857)	(3,028,645)
Investment in real estate, net	8,744,836	8,790,432
Ground lease right-of-use asset	7,461	7,464
Cash and cash equivalents	337,274	335,905
Tenant receivables	10,216	13,127
Deferred rent receivables	115,037	115,148
Acquired lease intangible assets, net	3,969	4,168
Interest rate contract assets	125,189	15,473
Investment in unconsolidated Fund	47,873	46,594
Other assets	48,459	25,721
Total Assets	9,440,314	9,354,032
Liabilities
Secured notes payable and revolving credit facility, net	5,013,876	5,012,076
Ground lease liability	10,856	10,860
Interest payable, accounts payable and deferred revenue	154,932	145,460
Security deposits	56,346	55,285
Acquired lease intangible liabilities, net	22,714	24,710
Interest rate contract liabilities	6,667	69,930
Dividends payable	49,226	49,158
Total liabilities	5,314,617	5,367,479
Douglas Emmett, Inc. stockholders' equity:
Common Stock, $0.01 par value, 750,000,000 authorized, 175,771,568 and 175,529,133 outstanding at March 31, 2022 and December 31, 2021, respectively	1,758	1,755
Additional paid-in capital	3,492,659	3,488,886
Accumulated other comprehensive income (loss)	83,029	(38,774)
Accumulated deficit	(1,059,499)	(1,035,798)
Total Douglas Emmett, Inc. stockholders' equity	2,517,947	2,416,069
Noncontrolling interests	1,607,750	1,570,484
Total equity	4,125,697	3,986,553
Total Liabilities and Equity	$ 9,440,314	$ 9,354,032

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Mar. 31, 2022	Dec. 31, 2021
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)	175,771,568	175,529,133

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Revenues
Revenues	$ 238,882	$ 216,295
Operating Expenses
General and administrative expenses	11,240	9,571
Depreciation and amortization	89,365	92,797
Total operating expenses	178,152	173,857
Other income	367	351
Other expenses	(183)	(163)
Income from unconsolidated Fund	247	167
Interest expense	(34,902)	(35,205)
Net income	26,259	7,588
Less: Net (income) loss attributable to noncontrolling interests	(745)	4,013
Net income attributable to common stockholders	$ 25,514	$ 11,601
Net income per common share, basic (in dollars per share)	$ 0.14	$ 0.06
Net income per common share, diluted (in dollars per share)	$ 0.14	$ 0.06
Office rental
Revenues
Revenues	$ 203,140	$ 186,643
Operating Expenses
Expenses	67,374	62,178
Office rental | Rental revenues and tenant recoveries
Revenues
Revenues	180,427	168,179
Office rental | Parking and other income
Revenues
Revenues	22,713	18,464
Multifamily rental
Revenues
Revenues	35,742	29,652
Operating Expenses
Expenses	10,173	9,311
Multifamily rental | Parking and other income
Revenues
Revenues	4,514	2,569
Multifamily rental | Rental revenues
Revenues
Revenues	$ 31,228	$ 27,083

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Statement of Comprehensive Income [Abstract]
Net income	$ 26,259	$ 7,588
Other comprehensive income: cash flow hedges	174,434	76,469
Comprehensive income	200,693	84,057
Less: Comprehensive income attributable to noncontrolling interests	(53,376)	(21,753)
Comprehensive income attributable to common stockholders	$ 147,317	$ 62,304

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	AOCI	Accumulated Deficit	Noncontrolling Interests
Beginning balance (in shares) at Dec. 31, 2020		175,464,000
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock (in shares)	7,000	7,000
Ending balance (in shares) at Mar. 31, 2021		175,471,000
Beginning balance at Dec. 31, 2020	$ 3,996,019	$ 1,755	$ 3,487,887	$ (148,035)	$ (904,516)	$ 1,558,928
Stockholders' Equity [Roll Forward]
Exchange of OP Units for common stock			109			(109)
Repurchase of OP Units with cash	(105)		(48)			(57)
Cash flow hedge adjustments	76,469			50,703		25,766
Net income	7,588				11,601	(4,013)
Dividends	(49,131)				(49,131)
Distributions	(13,724)					(13,724)
Stock-based compensation	3,409					3,409
Ending balance at Mar. 31, 2021	$ 4,020,525	$ 1,755	3,487,948	(97,332)	(942,046)	1,570,200
Stockholders' Equity [Roll Forward]
Dividends declared per common share (in usd per share)	$ 0.28
Beginning balance (in shares) at Dec. 31, 2021	175,529,133	175,529,000
Stockholders' Equity [Roll Forward]
Exchange of OP units for common stock (in shares)	243,000	243,000
Ending balance (in shares) at Mar. 31, 2022	175,771,568	175,772,000
Beginning balance at Dec. 31, 2021	$ 3,986,553	$ 1,755	3,488,886	(38,774)	(1,035,798)	1,570,484
Stockholders' Equity [Roll Forward]
Exchange of OP Units for common stock		3	3,941			(3,944)
Repurchase of OP Units with cash	(313)		(168)			(145)
Cash flow hedge adjustments	174,434			121,803		52,631
Net income	26,259				25,514	745
Dividends	(49,215)				(49,215)
Distributions	(15,393)					(15,393)
Stock-based compensation	3,372					3,372
Ending balance at Mar. 31, 2022	$ 4,125,697	$ 1,758	$ 3,492,659	$ 83,029	$ (1,059,499)	$ 1,607,750
Stockholders' Equity [Roll Forward]
Dividends declared per common share (in usd per share)	$ 0.28

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Operating Activities
Net income	$ 26,259	$ 7,588
Adjustments to reconcile net income to net cash provided by operating activities:
Income from unconsolidated Fund	(247)	(167)
Depreciation and amortization	89,365	92,797
Net accretion of acquired lease intangibles	(1,797)	(3,114)
Straight-line rent	111	(635)
Loan premium amortized and written off	(113)	(113)
Deferred loan costs amortized and written off	2,012	2,021
Amortization of stock-based compensation	2,581	2,694
Operating distributions from unconsolidated Fund	244	164
Change in working capital components:
Tenant receivables	2,911	188
Interest payable, accounts payable and deferred revenue	14,934	24,198
Security deposits	1,061	(2,778)
Other assets	2,149	2,201
Net cash provided by operating activities	139,470	125,044
Investing Activities
Capital expenditures for improvements to real estate	(28,544)	(24,305)
Capital expenditures for developments	(20,716)	(55,206)
Insurance recoveries for damage to real estate	785	0
Deposit for property acquisition	(25,000)	0
Capital distributions from unconsolidated Fund	531	194
Net cash used in investing activities	(72,944)	(79,317)
Financing Activities
Proceeds from borrowings	0	50,000
Repayment of borrowings	(202)	(20,193)
Loan cost payments	(101)	(686)
Distributions paid to noncontrolling interests	(15,393)	(13,724)
Dividends paid to common stockholders	(49,148)	(49,130)
Repurchase of OP Units	(313)	(105)
Net cash used in financing activities	(65,157)	(33,838)
Increase in cash and cash equivalents and restricted cash	1,369	11,889
Cash and cash equivalents and restricted cash - beginning balance	336,006	172,517
Cash and cash equivalents and restricted cash - ending balance	337,375	184,406
Cash and cash equivalents	337,274	184,274
Restricted cash	101	132
Operating Activities
Cash paid for interest, net of capitalized interest	32,785	33,420
Capitalized interest paid	2,801	1,773
Non-cash Investing Transactions
Accrual for real estate and development capital expenditures	32,407	38,607
Capitalized stock-based compensation for improvements to real estate and developments	791	715
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	21,139	19,143
Removal of fully amortized acquired lease intangible assets	887	50
Removal of fully accreted acquired lease intangible liabilities	2,834	7,134
Non-cash Financing Transactions
Gain (losses) recorded in AOCI	154,944	58,346
Dividends declared	49,215	49,131
Exchange of OP Units for common stock	3,944	109
Unconsolidated Funds
Non-cash Financing Transactions
Gain (losses) recorded in AOCI	$ 1,774	$ (1)

Overview

Overview	3 Months Ended
	Mar. 31, 2022
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 Fund, we focus on owning, acquiring, developing and managing a substantial 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 March 31, 2022, our Consolidated Portfolio consisted of (i) a 17.8 million square foot office portfolio, (ii) 4,415 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 an equity interest in an unconsolidated Fund which, at March 31, 2022, owned an additional 0.4 million square feet of office space. We manage our unconsolidated Fund alongside our Consolidated Portfolio, and we therefore present the statistics for our office portfolio on a Total Portfolio basis. As of March 31, 2022, 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 Office Wholly-owned properties 53 53 Consolidated JV properties 16 16 Unconsolidated Fund properties — 2 69 71 Multifamily Wholly-owned properties 11 11 Consolidated JV properties 1 1 12 12 Total 81 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. The consolidated debt, excluding our consolidated JV's, was $3.41 billion as of March 31, 2022 and December 31, 2021. See Note 8. We also consolidate three JVs through our Operating Partnership. We consolidate our Operating Partnership and our three JVs because they are VIEs and we or our Operating Partnership are the primary beneficiary for each. As of March 31, 2022, our consolidated VIE entities, excluding our Operating Partnership, had: • aggregate consolidated assets of $3.59 billion (of which $3.26 billion related to investment in real estate), and • aggregate consolidated liabilities of $1.71 billion (of which $1.64 billion related to debt). As of December 31, 2021, our consolidated VIE entities, excluding our Operating Partnership, had: • aggregate consolidated assets of $3.56 billion (of which $3.28 billion related to investment in real estate), and • aggregate consolidated liabilities of $1.72 billion (of which $1.64 billion related to debt).

Summary of Significant Accounti

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2022
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies We have not made any changes to our significant accounting policies disclosed in our 2021 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 Rental revenues and tenant recoveries We account for our rental revenues and tenant recoveries in accordance with Topic 842 "Leases". Rental revenues and tenant recoveries are included in: (i) Rental revenues and tenant recoveries under Office rental, and (ii) Rental revenues under Multifamily rental, in our consolidated statements of operations. Collectibility In accordance with Topic 842, we perform an assessment as to whether or not substantially all of the amounts due under a tenant’s lease agreement is deemed probable of collection. This assessment involves using a methodology that requires judgment and estimates about matters that are uncertain at the time the estimates are made, including tenant specific factors, specific industry conditions, and general economic trends and conditions. For leases where we have concluded it is probable that we will collect substantially all the lease payments due under those leases, we continue to record lease income on a straight-line basis over the lease term. For leases where we have concluded that it is not probable that we will collect substantially all the lease payments due under those leases, we limit the lease income to the lesser of the income recognized on a straight-line basis or cash basis. If our conclusion of collectibility changes, we will record the difference between the lease income that would have been recognized on a straight-line basis and cash basis as a current-period adjustment to rental revenues and tenant recoveries. We write-off tenant receivables and deferred rent receivables as a charge against rental revenues and tenant recoveries in the period we conclude that substantially all of the lease payments are not probable of collection. If we subsequently collect amounts that were previously written off then the amounts collected are recorded as an increase to our rental revenues and tenant recoveries. Charges for uncollectible tenant receivables and deferred rent receivables, which were primarily due to the impact of the COVID-19 pandemic, reduced our office revenues by $0.1 million and $1.8 million for the three months ended March 31, 2022 and 2021, respectively. Office parking revenues We account for our office parking revenues in accordance with ASC 606 "Revenue from Contracts with Customers". Office parking revenues are included in Parking and other income under Office rental in our consolidated statements of operations. 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 $19.0 million and $14.8 million for the three months ended March 31, 2022 and 2021, respectively. Office parking receivables, which are included in Tenant receivables in our consolidated balance sheets, were $0.8 million as of March 31, 2022 and December 31, 2021. 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. As of the date of this Report, the FASB has not issued any ASUs that we expect to be applicable and have a material impact on our consolidated financial statements.

Investment in Real Estate

Investment in Real Estate	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate The table below summarizes our investment in real estate: (In thousands) March 31, 2022 December 31, 2021 Land $ 1,150,821 $ 1,150,821 Buildings and improvements (1) 9,359,788 9,344,087 Tenant improvements and lease intangibles 936,698 935,639 Property under development (1) 394,386 388,530 Investment in real estate, gross $ 11,841,693 $ 11,819,077 __________________________________________________________________________________ (1) During the three months ended March 31, 2022, Property under development balances transferred to Building and improvements for real estate placed into service was $8.6 million. Acquisitions and Dispositions During the three months ended March 31, 2022, we did not purchase or sell any properties. See Note 17 regarding a residential property that we purchased in April 2022.

Ground Lease

Ground Lease	3 Months Ended
	Mar. 31, 2022
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 the market rent at the time. As of March 31, 2022, the ground lease right-of-use asset carrying value was $7.5 million and the ground lease liability was $10.9 million. Ground rent expense, which is included in Office expenses in our consolidated statements of operations, was $182 thousand for each of the three month periods ended March 31, 2022 and 2021. 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 March 31, 2022: Twelve months ending March 31: (In thousands) 2023 $ 733 2024 733 2025 733 2026 733 2027 733 Thereafter 43,796 Total future minimum lease payments $ 47,461

Acquired Lease Intangibles

Acquired Lease Intangibles	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	Acquired Lease Intangibles Summary of our Acquired Lease Intangibles (In thousands) March 31, 2022 December 31, 2021 Above-market tenant leases $ 5,519 $ 6,406 Above-market tenant leases - accumulated amortization (2,440) (3,132) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (262) (258) Acquired lease intangible assets, net $ 3,969 $ 4,168 Below-market tenant leases $ 55,375 $ 58,209 Below-market tenant leases - accumulated accretion (32,661) (33,499) Acquired lease intangible liabilities, net $ 22,714 $ 24,710 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 March 31, (In thousands) 2022 2021 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 1,801 $ 3,118 Amortization of an above-market ground lease asset (2) (4) (4) Total $ 1,797 $ 3,114 ______________________________________________ (1) Recorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income.

Investment in Unconsolidated Fu

Investment in Unconsolidated Fund	3 Months Ended
	Mar. 31, 2022
Real Estate Investments, Net [Abstract]
Investment in Unconsolidated Fund	Investment in Unconsolidated Fund Description of our Fund As of March 31, 2022 and 2021, we managed and owned an equity interest of 33.5% in an unconsolidated Fund, Partnership X, through which we and other investors in the Fund owned two office properties totaling 0.4 million square feet. Partnership X pays us fees and reimburses 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 Partnership X: Three Months Ended March 31, (In thousands) 2022 2021 Operating distributions received $ 244 $ 164 Capital distributions received 531 194 Total distributions received $ 775 $ 358 Summarized Financial Information for Partnership X The tables below present selected financial information for Partnership X. The amounts presented reflect 100% (not our pro-rata share) of amounts related to Partnership X, and are based upon historical acquired book value: (In thousands) March 31, 2022 December 31, 2021 Total assets $ 144,662 $ 139,171 Total liabilities $ 118,512 $ 117,668 Total equity $ 26,150 $ 21,503 Three Months Ended March 31, (In thousands) 2022 2021 Total revenues $ 4,397 $ 4,002 Operating income $ 1,296 $ 1,005 Net income $ 622 $ 396

Other Assets

Other Assets	3 Months Ended
	Mar. 31, 2022
Other Assets [Abstract]
Other Assets	Other Assets (In thousands) March 31, 2022 December 31, 2021 Restricted cash $ 101 $ 101 Prepaid expenses 13,476 15,936 Indefinite-lived intangibles 1,988 1,988 Deposits in escrow (1) 25,000 — Furniture, fixtures and equipment, net 2,425 2,499 Other 5,469 5,197 Total other assets $ 48,459 $ 25,721 _______________________________________ (1) The balance as of March 31, 2022 is a deposit for a property we purchased in April 2022. See Note 17.

Secured Notes Payable and Revol

Secured Notes Payable and Revolving Credit Facility, Net	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 Principal Balance as of December 31, 2021 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date (In thousands) Consolidated Wholly Owned Subsidiaries Term loan (3) 3/3/2025 $ 335,000 $ 335,000 LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (3) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.76% 3/1/2023 Term loan (3) 8/15/2026 415,000 415,000 LIBOR + 1.10% 3.07% 8/1/2025 Term loan (3) 9/19/2026 400,000 400,000 LIBOR + 1.15% 2.44% 9/1/2024 Term loan (3) 9/26/2026 200,000 200,000 LIBOR + 1.20% 2.36% 10/1/2024 Term loan (3) 11/1/2026 400,000 400,000 LIBOR + 1.15% 2.31% 10/1/2024 Fannie Mae loan (3) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Term loan (3) 5/18/2028 300,000 300,000 LIBOR + 1.40% 2.21% 6/1/2026 Term loan (4) 1/1/2029 300,000 300,000 SOFR + 1.56% 2.66% 1/1/2027 Fannie Mae loan (3) 6/1/2029 255,000 255,000 LIBOR + 0.98% 3.26% 6/1/2027 Fannie Mae loan (3) 6/1/2029 125,000 125,000 LIBOR + 0.98% 3.25% 6/1/2027 Term loan (5) 6/1/2038 29,123 29,325 N/A 4.55% N/A Revolving credit facility (6) 8/21/2023 — — LIBOR + 1.15% N/A N/A Total Wholly Owned Subsidiary Debt 3,411,523 3,411,725 Consolidated JVs Term loan (3) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Term loan (3)(7) 5/15/2027 450,000 450,000 LIBOR + 1.35% 3.04% 4/1/2025 Term loan (3) 8/19/2028 625,000 625,000 LIBOR + 1.35% 2.12% 6/1/2025 Fannie Mae loan (3) 6/1/2029 160,000 160,000 LIBOR + 0.98% 3.25% 7/1/2027 Total Consolidated Debt (8) 5,046,523 5,046,725 Unamortized loan premium, net (9) 3,893 4,007 Unamortized deferred loan costs, net (10) (36,540) (38,656) Total Consolidated Debt, net $ 5,013,876 $ 5,012,076 _______________________________________________________________________ Except as noted below, our loans and revolving credit facility: (i) are non-recourse, (ii) are secured by separate collateral pools consisting of one or more properties, (iii) require interest-only monthly payments with the outstanding principal due upon maturity, and (iv) contain certain financial covenants which could require us to deposit excess cash flow with the lender under certain circumstances unless we (at our option) either provide a guarantee or additional collateral or pay down the loan within certain parameters set forth in the loan documents. Certain loans with maturity date extension options require us to meet minimum financial thresholds in order to extend the loan maturity date. (1) Maturity dates include extension options. (2) Effective rate as of March 31, 2022. Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees and loan premiums. See Note 10 for details of our interest rate swaps. See further below for details of our loan costs and loan premiums. (3) The loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (4) The loan agreement includes a zero-percent SOFR floor. The corresponding swap does not include such a floor. The effective rate decreased from 3.42% to 2.66% on January 1, 2022 when a new swap replaced old swaps that expired. (5) Requires monthly payments of principal and interest. Principal amortization is based upon a 30-year amortization schedule. (6) $400.0 million revolving credit facility. Unused commitment fees range from 0.10% to 0.15%. The facility has a zero-percent LIBOR floor. (7) The effective rate will decrease to 2.26% on July 1, 2022 when new swaps replace existing swaps that will expire . (8) The table does not include our unconsolidated Fund's loan - see Note 16. See Note 13 for our fair value disclosures. (9) Balances are net of accumulated amortization of $3.3 million and $3.2 million at March 31, 2022 and December 31, 2021, respectively. (10) Balances are net of accumulated amortization of $48.2 million and $46.3 million at March 31, 2022 and December 31, 2021, respectively. Debt Statistics The table below summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of March 31, 2022 Principal Balance as of December 31, 2021 Aggregate swapped to fixed rate loans $ 5,017,400 $ 5,017,400 Aggregate fixed rate loans 29,123 29,325 Total Debt $ 5,046,523 $ 5,046,725 The table below summarizes certain consolidated debt statistics as of March 31, 2022: Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $5.05 Weighted average remaining life (including extension options) 5.2 years Weighted average remaining fixed interest period 2.8 years Weighted average annual interest rate 2.89% Future Principal Payments At March 31, 2022, the minimum future principal payments due on our consolidated secured notes payable and revolving credit facility were as follows: Twelve months ending March 31: Including Maturity Extension Options (1) (In thousands) 2023 $ 833 2024 871 2025 735,912 2026 103,354 2027 1,415,999 Thereafter 2,789,554 Total future principal payments $ 5,046,523 ________________________________________________ (1) Some of our loan agreements require that we meet certain minimum financial thresholds to be able to extend the loan maturity. Loan Premium and Loan Costs The table below presents loan premium and loan costs, which are included in Interest expense in our consolidated statements of operations: Three Months Ended March 31, (In thousands) 2022 2021 Loan premium amortized and written off $ (113) $ (113) Deferred loan costs amortized and written off 2,012 2,021 Total $ 1,899 $ 1,908

Interest Payable, Accounts Paya

Interest Payable, Accounts Payable and Deferred Revenue	3 Months Ended
	Mar. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Interest Payable, Accounts Payable and Deferred Revenue	Interest Payable, Accounts Payable and Deferred Revenue (In thousands) March 31, 2022 December 31, 2021 Interest payable $ 12,467 $ 12,254 Accounts payable and accrued liabilities 98,740 83,150 Deferred revenue 43,725 50,056 Total interest payable, accounts payable and deferred revenue $ 154,932 $ 145,460

Derivative Contracts

Derivative Contracts	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Contracts	Derivative Contracts We make use of interest rate swap 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. 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. Derivative Summary As of March 31, 2022, all of our interest rate swaps, including our consolidated JVs and our unconsolidated Fund's interest rate swaps, as summarized below, were designated as cash flow hedges: Number of Interest Rate Swaps Notional Consolidated derivatives (1)(2)(4)(5) 35 $ 5,017,400 Unconsolidated Fund's derivatives (3)(4)(5) 2 $ 115,000 ___________________________________________________ (1) The notional amount reflects 100%, not our pro-rata share, of our consolidated JVs' derivatives. (2) The notional amount includes two swaps with a combined initial notional amount of $50.0 million, which will increase to $450.0 million on July 1, 2022 to replace existing swaps when they expire. (3) The notional amount reflects 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. For more information about our Fund, including our equity interest percentage see Note 6. (4) Our derivative contracts do not provide for right of offset between derivative contracts. (5) See Note 13 for our derivative fair value disclosures. 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 March 31, 2022, there have been no events of default with respect to our interest rate swaps, our consolidated JVs' interest rate swaps, or our Fund's 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) March 31, 2022 December 31, 2021 Consolidated derivatives (1) $ 9,290 $ 77,760 Unconsolidated Fund's derivatives (2) $ — $ — ___________________________________________________ (1) The amounts reflect 100%, not our pro-rata share, of our consolidated JVs' derivatives. (2) Our unconsolidated Fund did not have any derivatives in a liability position during the periods presented. For more information about our Fund, including our equity interest percentage, see Note 6. 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 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) March 31, 2022 December 31, 2021 Consolidated derivatives (1) $ 122,129 $ 14,927 Unconsolidated Fund's derivatives (2) $ 7,572 $ 1,889 ___________________________________________________ (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 Fund's derivatives. For more information about our Fund, including our equity interest percentage, see Note 6. 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) Three Months Ended March 31, 2022 2021 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gains recorded in AOCI before reclassifications (1) $ 154,944 $ 58,346 Losses reclassified from AOCI to Interest Expense (1) $ 17,649 $ 18,078 Interest Expense presented in the consolidated statements of operations $ (34,902) $ (35,205) Unconsolidated Fund's derivative (our share) (2) : Gains (losses) recorded in AOCI before reclassifications (1) $ 1,774 $ (1) Losses reclassified from AOCI to Income from unconsolidated Fund (1) $ 67 $ 46 Income from unconsolidated Fund presented in the consolidated statements of operations $ 247 $ 167 ___________________________________________________ (1) See Note 11 for our AOCI reconciliation. (2) We calculate our share by multiplying the total amount for the Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6. Future Reclassifications from AOCI At March 31, 2022, our estimate of the AOCI related to derivatives designated as cash flow hedges that will be reclassified to earnings during the next twelve months as interest rate swap payments are made is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 10,809 Unconsolidated Fund's derivative (our share) (1) : Gains to be reclassified from AOCI to Income from unconsolidated Fund $ 366 ___________________________________________________ (1) We calculate our share by multiplying the total amount for the Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6.

Equity

Equity	3 Months Ended
	Mar. 31, 2022
Stockholders' Equity Note [Abstract]
Equity	Equity Transactions During the Three Months Ended March 31, 2022 • We acquired 243 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units. • We acquired 9 thousand OP Units for $313 thousand in cash. During the Three Months Ended March 31, 2021 • We acquired 7 thousand OP Units in exchange for issuing an equal number of shares of our common stock to the holders of the OP Units. • We acquired 4 thousand OP Units for $105 thousand in cash. Noncontrolling Interests Our noncontrolling interests consist of interests in our Operating Partnership and consolidated JVs which are not owned by us. As of March 31, 2022, noncontrolling interests in our Operating Partnership owned 30.8 million OP Units and fully-vested LTIP Units, which represented approximately 15% of our Operating Partnership's total outstanding interests, and we owned 175.8 million OP Units (to match our 175.8 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: Three Months Ended March 31, (In thousands) 2022 2021 Net income attributable to common stockholders $ 25,514 $ 11,601 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 3,944 109 Repurchase of OP Units from noncontrolling interests (168) (48) Net transfers from noncontrolling interests 3,776 61 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 29,290 $ 11,662 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: Three Months Ended March 31, (In thousands) 2022 2021 Beginning balance $ (38,774) $ (148,035) Consolidated derivatives: Other comprehensive income before reclassifications 154,944 58,346 Reclassification of losses from AOCI to Interest Expense 17,649 18,078 Unconsolidated Fund's derivatives (our share) (2) : Other comprehensive income (loss) before reclassifications 1,774 (1) Reclassification of losses from AOCI to Income from unconsolidated Fund 67 46 Net current period OCI 174,434 76,469 OCI attributable to noncontrolling interests (52,631) (25,766) OCI attributable to common stockholders 121,803 50,703 Ending balance $ 83,029 $ (97,332) ___________________________________________________ (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 the Fund by our equity interest in the Fund. Equity Compensation On June 2, 2016, the Douglas Emmett 2016 Omnibus Stock Incentive Plan, as amended (the "2016 Plan"), became effective after receiving stockholder approval, superseding our prior plan, the Douglas Emmett 2006 Omnibus Stock Incentive Plan (the "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 March 31, (In thousands) 2022 2021 Stock-based compensation expense, net $ 2,581 $ 2,694 Capitalized stock-based compensation $ 791 $ 715

EPS

EPS	3 Months Ended
	Mar. 31, 2022
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 non-forfeitable 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 March 31, 2022 2021 Numerator (In thousands): Net income attributable to common stockholders $ 25,514 $ 11,601 Allocation to participating securities: Unvested LTIP Units (226) (219) Net income attributable to common stockholders - basic and diluted $ 25,288 $ 11,382 Denominator (In thousands): Weighted average shares of common stock outstanding - basic and diluted (1) 175,656 175,464 Net income per common share - basic and diluted $ 0.14 $ 0.06 ____________________________________________________ (1) Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income (equal on a per unit basis to the Net income per common share - diluted) was already deducted in calculating Net income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the weighted average OP Units and vested LTIP Units outstanding for the respective periods: Three Months Ended March 31, (In thousands) 2022 2021 OP Units 29,365 28,203 Vested LTIP Units 1,592 1,871

Fair Value of Financial Instrum

Fair Value of Financial Instruments	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022, 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 includes 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) March 31, 2022 December 31, 2021 Fair value $ 5,017,170 $ 5,017,494 Carrying value $ 5,050,416 $ 5,050,732 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) March 31, 2022 December 31, 2021 Fair value $ 8,086 $ 8,861 Carrying value $ 10,856 $ 10,860 Financial instruments measured at fair value Derivative instruments See Note 10 for the details of our derivatives. We present our derivatives in our consolidated balance sheets 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 non-performance risk. Our derivatives are not subject to master netting arrangements. The table below presents the estimated fair value of our derivatives: (In thousands) March 31, 2022 December 31, 2021 Derivative Assets: Fair value - consolidated derivatives (1) $ 125,189 $ 15,473 Fair value - unconsolidated Fund's derivatives (2) $ 7,564 $ 1,963 Derivative Liabilities: Fair value - consolidated derivatives (1) $ 6,667 $ 69,930 Fair value - unconsolidated Fund's derivatives (2) $ — $ — ____________________________________________________ (1) Consolidated derivatives, which include 100%, not our pro-rata share, of our consolidated JVs' derivatives, are included in interest rate contracts in our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable in the consolidated balance sheets. (2) The amounts reflect 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. Our pro-rata share of the amounts related to the unconsolidated Fund's derivatives is included in our Investment in unconsolidated Fund in our consolidated balance sheets. Our unconsolidated Fund did not have any derivatives in a liability position during the periods presented. See Note 6 for more information about our Fund, including our equity interest percentage, and see "Guarantees" in Note 16 regarding our Fund's derivatives.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Office Segment Total office revenues $ 203,140 $ 186,643 Office expenses (67,374) (62,178) Office segment profit 135,766 124,465 Multifamily Segment Total multifamily revenues 35,742 29,652 Multifamily expenses (10,173) (9,311) Multifamily segment profit 25,569 20,341 Total profit from all segments $ 161,335 $ 144,806 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 March 31, 2022 2021 Total profit from all segments $ 161,335 $ 144,806 General and administrative expenses (11,240) (9,571) Depreciation and amortization (89,365) (92,797) Other income 367 351 Other expenses (183) (163) Income from unconsolidated Fund 247 167 Interest expense (34,902) (35,205) Net income 26,259 7,588 Less: Net (income) loss attributable to noncontrolling interests (745) 4,013 Net income attributable to common stockholders $ 25,514 $ 11,601

Future Minimum Lease Rental Rec

Future Minimum Lease Rental Receipts	3 Months Ended
	Mar. 31, 2022
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 for our consolidated properties at March 31, 2022: Twelve months ending March 31: (In thousands) 2023 $ 628,283 2024 530,024 2025 428,543 2026 332,702 2027 246,890 Thereafter 673,309 Total future minimum base rentals (1) $ 2,839,751 ___________________________________ (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 will not be exercised.

Commitments, Contingencies and

Commitments, Contingencies and Guarantees	3 Months Ended
	Mar. 31, 2022
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 Tenant Receivables 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 office 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 three months ended March 31, 2022 and 2021, no tenant accounted for more than 10% of our total revenues. See our revenue recognition policy in Note 2 for the charges to revenue for uncollectible amounts for tenant receivables and deferred rent receivables. Geographic Risk All of our properties, including the properties of our consolidated JVs and unconsolidated Fund, 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. Swap Counterparty Credit Risk 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. Our swap contracts do not provide for right of offset between derivative contracts. 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 counterparties with investment grade ratings. Cash Balances 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 thirty-two buildings in our Consolidated Portfolio 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 March 31, 2022, the obligations to remove the asbestos from properties which are currently undergoing major renovations, or that we plan to renovate in the future, are not material to our consolidated financial statements. As of March 31, 2022, the obligations to remove the asbestos from our other properties have indeterminable settlement dates, and we are unable to reasonably estimate the fair value of the associated conditional asset retirement obligations. Contractual Commitments Development Projects In West Los Angeles, we completed the construction of a 34-story high-rise apartment building with 376 apartments. We expect to place the building into service during the second quarter of 2022. In downtown Honolulu, we are converting a 25 story, 493,000 square foot office tower into approximately 493 apartments in phases over a number of years as the office space is vacated. As of March 31, 2022, we had an aggregate remaining contractual commitment for these and other development projects of approximately $58.9 million. Other Contractual Commitments As of March 31, 2022, we had an aggregate remaining contractual commitment for repositionings, capital expenditure projects and tenant improvements of approximately $30.2 million. Guarantees Partnership X Guarantees Our unconsolidated Fund, Partnership X, has a $115.0 million floating-rate term loan that matures on September 14, 2028. Starting on October 1, 2021, the loan carries interest at LIBOR + 1.35% (with a zero-percent LIBOR floor), which has been effectively fixed at 2.19% until October 1, 2026 with interest rate swaps (which do not have zero-percent LIBOR floors). The loan is secured by two properties held by Partnership X and is non-recourse. We have made certain environmental and other limited indemnities and guarantees covering customary non-recourse carve-outs for Partnership X's loan, and we have also guaranteed the related swaps. Partnership X has agreed to indemnify us for any amounts that we would be required to pay under these agreements. As of March 31, 2022, assuming that LIBOR does not decrease below zero-percent, the maximum future interest payments for the swap were $4.4 million.

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2022
Subsequent Events [Abstract]
Subsequent Events	Subsequent EventsOn April 26, 2022, we paid $330.0 million, excluding acquisition costs, to acquire a luxury multifamily apartment building with 120 units, located at 1221 Ocean Avenue in Santa Monica. We acquired the property through a new joint venture that we manage and in which we own a capital interest of 55%. The joint venture partly financed the acquisition with a $175.0 million secured, non-recourse interest-only term loan that matures in April 2029. We swap-fixed the interest rate on the loan at 3.90% using interest rate swaps, which expire on May 1, 2026. The acquired property's results of operations will be included in our consolidated operating results from the date of acquisition. As of March 31, 2022, we had a deposit in escrow of $25.0 million for the purchase of the property, which is included in Other assets on our consolidated balance sheet.

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2022
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.
Basis of Accounting	The accompanying unaudited interim consolidated financial statements have been prepared pursuant to the rules and regulations of the SEC in conformity with US GAAP as established by the FASB in the ASC. 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, 2022. The interim consolidated financial statements should be read in conjunction with the consolidated financial statements in our 2021 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 Rental revenues and tenant recoveries We account for our rental revenues and tenant recoveries in accordance with Topic 842 "Leases". Rental revenues and tenant recoveries are included in: (i) Rental revenues and tenant recoveries under Office rental, and (ii) Rental revenues under Multifamily rental, in our consolidated statements of operations. Collectibility In accordance with Topic 842, we perform an assessment as to whether or not substantially all of the amounts due under a tenant’s lease agreement is deemed probable of collection. This assessment involves using a methodology that requires judgment and estimates about matters that are uncertain at the time the estimates are made, including tenant specific factors, specific industry conditions, and general economic trends and conditions. For leases where we have concluded it is probable that we will collect substantially all the lease payments due under those leases, we continue to record lease income on a straight-line basis over the lease term. For leases where we have concluded that it is not probable that we will collect substantially all the lease payments due under those leases, we limit the lease income to the lesser of the income recognized on a straight-line basis or cash basis. If our conclusion of collectibility changes, we will record the difference between the lease income that would have been recognized on a straight-line basis and cash basis as a current-period adjustment to rental revenues and tenant recoveries. We write-off tenant receivables and deferred rent receivables as a charge against rental revenues and tenant recoveries in the period we conclude that substantially all of the lease payments are not probable of collection. If we subsequently collect amounts that were previously written off then the amounts collected are recorded as an increase to our rental revenues and tenant recoveries. Charges for uncollectible tenant receivables and deferred rent receivables, which were primarily due to the impact of the COVID-19 pandemic, reduced our office revenues by $0.1 million and $1.8 million for the three months ended March 31, 2022 and 2021, respectively. Office parking revenues We account for our office parking revenues in accordance with ASC 606 "Revenue from Contracts with Customers". Office parking revenues are included in Parking and other income under Office rental in our consolidated statements of operations. 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 $19.0 million and $14.8 million for the three months ended March 31, 2022 and 2021, respectively. Office parking receivables, which are included in Tenant receivables in our consolidated balance sheets, were $0.8 million as of March 31, 2022 and December 31, 2021.
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. As of the date of this Report, the FASB has not issued any ASUs that we expect to be applicable and 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.

Overview (Tables)

Overview (Tables)	3 Months Ended
	Mar. 31, 2022
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of March 31, 2022, 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 Office Wholly-owned properties 53 53 Consolidated JV properties 16 16 Unconsolidated Fund properties — 2 69 71 Multifamily Wholly-owned properties 11 11 Consolidated JV properties 1 1 12 12 Total 81 83

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	3 Months Ended
	Mar. 31, 2022
Real Estate [Abstract]
Schedule of Investment in Real Estate	The table below summarizes our investment in real estate: (In thousands) March 31, 2022 December 31, 2021 Land $ 1,150,821 $ 1,150,821 Buildings and improvements (1) 9,359,788 9,344,087 Tenant improvements and lease intangibles 936,698 935,639 Property under development (1) 394,386 388,530 Investment in real estate, gross $ 11,841,693 $ 11,819,077 __________________________________________________________________________________ (1) During the three months ended March 31, 2022, Property under development balances transferred to Building and improvements for real estate placed into service was $8.6 million.

Ground Lease (Tables)

Ground Lease (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022: Twelve months ending March 31: (In thousands) 2023 $ 733 2024 733 2025 733 2026 733 2027 733 Thereafter 43,796 Total future minimum lease payments $ 47,461

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	3 Months Ended
	Mar. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Lease Intangibles	Summary of our Acquired Lease Intangibles (In thousands) March 31, 2022 December 31, 2021 Above-market tenant leases $ 5,519 $ 6,406 Above-market tenant leases - accumulated amortization (2,440) (3,132) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (262) (258) Acquired lease intangible assets, net $ 3,969 $ 4,168 Below-market tenant leases $ 55,375 $ 58,209 Below-market tenant leases - accumulated accretion (32,661) (33,499) Acquired lease intangible liabilities, net $ 22,714 $ 24,710
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 March 31, (In thousands) 2022 2021 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 1,801 $ 3,118 Amortization of an above-market ground lease asset (2) (4) (4) Total $ 1,797 $ 3,114 ______________________________________________ (1) Recorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income.

Investment in Unconsolidated _2

Investment in Unconsolidated Fund (Tables)	3 Months Ended
	Mar. 31, 2022
Real Estate Investments, Net [Abstract]
Summary of Statement of Operations for Investments in Unconsolidated Funds and Cash Received from Funds	The table below presents cash distributions we received from Partnership X: Three Months Ended March 31, (In thousands) 2022 2021 Operating distributions received $ 244 $ 164 Capital distributions received 531 194 Total distributions received $ 775 $ 358 The tables below present selected financial information for Partnership X. The amounts presented reflect 100% (not our pro-rata share) of amounts related to Partnership X, and are based upon historical acquired book value: (In thousands) March 31, 2022 December 31, 2021 Total assets $ 144,662 $ 139,171 Total liabilities $ 118,512 $ 117,668 Total equity $ 26,150 $ 21,503 Three Months Ended March 31, (In thousands) 2022 2021 Total revenues $ 4,397 $ 4,002 Operating income $ 1,296 $ 1,005 Net income $ 622 $ 396

Other Assets (Tables)

Other Assets (Tables)	3 Months Ended
	Mar. 31, 2022
Other Assets [Abstract]
Schedule of Other Assets	(In thousands) March 31, 2022 December 31, 2021 Restricted cash $ 101 $ 101 Prepaid expenses 13,476 15,936 Indefinite-lived intangibles 1,988 1,988 Deposits in escrow (1) 25,000 — Furniture, fixtures and equipment, net 2,425 2,499 Other 5,469 5,197 Total other assets $ 48,459 $ 25,721 _______________________________________ (1) The balance as of March 31, 2022 is a deposit for a property we purchased in April 2022. See Note 17.

Secured Notes Payable and Rev_2

Secured Notes Payable and Revolving Credit Facility, Net (Tables)	3 Months Ended
	Mar. 31, 2022
Debt Disclosure [Abstract]
Schedule of Secured Notes Payable and Revolving Credit Facility	Description Maturity Date (1) Principal Balance as of March 31, 2022 Principal Balance as of December 31, 2021 Variable Interest Rate Fixed Interest Rate (2) Swap Maturity Date (In thousands) Consolidated Wholly Owned Subsidiaries Term loan (3) 3/3/2025 $ 335,000 $ 335,000 LIBOR + 1.30% 3.84% 3/1/2023 Fannie Mae loan (3) 4/1/2025 102,400 102,400 LIBOR + 1.25% 2.76% 3/1/2023 Term loan (3) 8/15/2026 415,000 415,000 LIBOR + 1.10% 3.07% 8/1/2025 Term loan (3) 9/19/2026 400,000 400,000 LIBOR + 1.15% 2.44% 9/1/2024 Term loan (3) 9/26/2026 200,000 200,000 LIBOR + 1.20% 2.36% 10/1/2024 Term loan (3) 11/1/2026 400,000 400,000 LIBOR + 1.15% 2.31% 10/1/2024 Fannie Mae loan (3) 6/1/2027 550,000 550,000 LIBOR + 1.37% 3.16% 6/1/2022 Term loan (3) 5/18/2028 300,000 300,000 LIBOR + 1.40% 2.21% 6/1/2026 Term loan (4) 1/1/2029 300,000 300,000 SOFR + 1.56% 2.66% 1/1/2027 Fannie Mae loan (3) 6/1/2029 255,000 255,000 LIBOR + 0.98% 3.26% 6/1/2027 Fannie Mae loan (3) 6/1/2029 125,000 125,000 LIBOR + 0.98% 3.25% 6/1/2027 Term loan (5) 6/1/2038 29,123 29,325 N/A 4.55% N/A Revolving credit facility (6) 8/21/2023 — — LIBOR + 1.15% N/A N/A Total Wholly Owned Subsidiary Debt 3,411,523 3,411,725 Consolidated JVs Term loan (3) 12/19/2024 400,000 400,000 LIBOR + 1.30% 3.47% 1/1/2023 Term loan (3)(7) 5/15/2027 450,000 450,000 LIBOR + 1.35% 3.04% 4/1/2025 Term loan (3) 8/19/2028 625,000 625,000 LIBOR + 1.35% 2.12% 6/1/2025 Fannie Mae loan (3) 6/1/2029 160,000 160,000 LIBOR + 0.98% 3.25% 7/1/2027 Total Consolidated Debt (8) 5,046,523 5,046,725 Unamortized loan premium, net (9) 3,893 4,007 Unamortized deferred loan costs, net (10) (36,540) (38,656) Total Consolidated Debt, net $ 5,013,876 $ 5,012,076 _______________________________________________________________________ Except as noted below, our loans and revolving credit facility: (i) are non-recourse, (ii) are secured by separate collateral pools consisting of one or more properties, (iii) require interest-only monthly payments with the outstanding principal due upon maturity, and (iv) contain certain financial covenants which could require us to deposit excess cash flow with the lender under certain circumstances unless we (at our option) either provide a guarantee or additional collateral or pay down the loan within certain parameters set forth in the loan documents. Certain loans with maturity date extension options require us to meet minimum financial thresholds in order to extend the loan maturity date. (1) Maturity dates include extension options. (2) Effective rate as of March 31, 2022. Includes the effect of interest rate swaps and excludes the effect of prepaid loan fees and loan premiums. See Note 10 for details of our interest rate swaps. See further below for details of our loan costs and loan premiums. (3) The loan agreement includes a zero-percent LIBOR floor. The corresponding swaps do not include such a floor. (4) The loan agreement includes a zero-percent SOFR floor. The corresponding swap does not include such a floor. The effective rate decreased from 3.42% to 2.66% on January 1, 2022 when a new swap replaced old swaps that expired. (5) Requires monthly payments of principal and interest. Principal amortization is based upon a 30-year amortization schedule. (6) $400.0 million revolving credit facility. Unused commitment fees range from 0.10% to 0.15%. The facility has a zero-percent LIBOR floor. (7) The effective rate will decrease to 2.26% on July 1, 2022 when new swaps replace existing swaps that will expire . (8) The table does not include our unconsolidated Fund's loan - see Note 16. See Note 13 for our fair value disclosures. (9) Balances are net of accumulated amortization of $3.3 million and $3.2 million at March 31, 2022 and December 31, 2021, respectively. (10) Balances are net of accumulated amortization of $48.2 million and $46.3 million at March 31, 2022 and December 31, 2021, respectively. Debt Statistics The table below summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of March 31, 2022 Principal Balance as of December 31, 2021 Aggregate swapped to fixed rate loans $ 5,017,400 $ 5,017,400 Aggregate fixed rate loans 29,123 29,325 Total Debt $ 5,046,523 $ 5,046,725 The table below summarizes certain consolidated debt statistics as of March 31, 2022: Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $5.05 Weighted average remaining life (including extension options) 5.2 years Weighted average remaining fixed interest period 2.8 years Weighted average annual interest rate 2.89%
Schedule of Future Minimum Principal Payments Due on Secured Notes Payable and Revolving Credit Facility	At March 31, 2022, the minimum future principal payments due on our consolidated secured notes payable and revolving credit facility were as follows: Twelve months ending March 31: Including Maturity Extension Options (1) (In thousands) 2023 $ 833 2024 871 2025 735,912 2026 103,354 2027 1,415,999 Thereafter 2,789,554 Total future principal payments $ 5,046,523 ________________________________________________ (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 premium and loan costs, which are included in Interest expense in our consolidated statements of operations: Three Months Ended March 31, (In thousands) 2022 2021 Loan premium amortized and written off $ (113) $ (113) Deferred loan costs amortized and written off 2,012 2,021 Total $ 1,899 $ 1,908

Interest Payable, Accounts Pa_2

Interest Payable, Accounts Payable and Deferred Revenue (Tables)	3 Months Ended
	Mar. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Interest Payable, Accounts Payable and Deferred Revenue	(In thousands) March 31, 2022 December 31, 2021 Interest payable $ 12,467 $ 12,254 Accounts payable and accrued liabilities 98,740 83,150 Deferred revenue 43,725 50,056 Total interest payable, accounts payable and deferred revenue $ 154,932 $ 145,460

Derivative Contracts (Tables)

Derivative Contracts (Tables)	3 Months Ended
	Mar. 31, 2022
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Derivatives	As of March 31, 2022, all of our interest rate swaps, including our consolidated JVs and our unconsolidated Fund's interest rate swaps, as summarized below, were designated as cash flow hedges: Number of Interest Rate Swaps Notional Consolidated derivatives (1)(2)(4)(5) 35 $ 5,017,400 Unconsolidated Fund's derivatives (3)(4)(5) 2 $ 115,000 ___________________________________________________ (1) The notional amount reflects 100%, not our pro-rata share, of our consolidated JVs' derivatives. (2) The notional amount includes two swaps with a combined initial notional amount of $50.0 million, which will increase to $450.0 million on July 1, 2022 to replace existing swaps when they expire. (3) The notional amount reflects 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. For more information about our Fund, including our equity interest percentage see Note 6. (4) Our derivative contracts do not provide for right of offset between derivative contracts. (5) See Note 13 for our derivative fair value disclosures.
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) March 31, 2022 December 31, 2021 Consolidated derivatives (1) $ 9,290 $ 77,760 Unconsolidated Fund's derivatives (2) $ — $ — ___________________________________________________ (1) The amounts reflect 100%, not our pro-rata share, of our consolidated JVs' derivatives. (2) Our unconsolidated Fund did not have any derivatives in a liability position during the periods presented. For more information about our Fund, including our equity interest percentage, see Note 6.
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) March 31, 2022 December 31, 2021 Consolidated derivatives (1) $ 122,129 $ 14,927 Unconsolidated Fund's derivatives (2) $ 7,572 $ 1,889 ___________________________________________________ (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 Fund's derivatives. For more information about our Fund, including our equity interest percentage, see Note 6.
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) Three Months Ended March 31, 2022 2021 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gains recorded in AOCI before reclassifications (1) $ 154,944 $ 58,346 Losses reclassified from AOCI to Interest Expense (1) $ 17,649 $ 18,078 Interest Expense presented in the consolidated statements of operations $ (34,902) $ (35,205) Unconsolidated Fund's derivative (our share) (2) : Gains (losses) recorded in AOCI before reclassifications (1) $ 1,774 $ (1) Losses reclassified from AOCI to Income from unconsolidated Fund (1) $ 67 $ 46 Income from unconsolidated Fund presented in the consolidated statements of operations $ 247 $ 167 ___________________________________________________ (1) See Note 11 for our AOCI reconciliation. (2) We calculate our share by multiplying the total amount for the Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6.
Schedule of Future Reclassifications from AOCI	At March 31, 2022, our estimate of the AOCI related to derivatives designated as cash flow hedges that will be reclassified to earnings during the next twelve months as interest rate swap payments are made is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 10,809 Unconsolidated Fund's derivative (our share) (1) : Gains to be reclassified from AOCI to Income from unconsolidated Fund $ 366 ___________________________________________________ (1) We calculate our share by multiplying the total amount for the Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6.

Equity (Tables)

Equity (Tables)	3 Months Ended
	Mar. 31, 2022
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: Three Months Ended March 31, (In thousands) 2022 2021 Net income attributable to common stockholders $ 25,514 $ 11,601 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 3,944 109 Repurchase of OP Units from noncontrolling interests (168) (48) Net transfers from noncontrolling interests 3,776 61 Change from net income attributable to common stockholders and transfers from noncontrolling interests $ 29,290 $ 11,662
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: Three Months Ended March 31, (In thousands) 2022 2021 Beginning balance $ (38,774) $ (148,035) Consolidated derivatives: Other comprehensive income before reclassifications 154,944 58,346 Reclassification of losses from AOCI to Interest Expense 17,649 18,078 Unconsolidated Fund's derivatives (our share) (2) : Other comprehensive income (loss) before reclassifications 1,774 (1) Reclassification of losses from AOCI to Income from unconsolidated Fund 67 46 Net current period OCI 174,434 76,469 OCI attributable to noncontrolling interests (52,631) (25,766) OCI attributable to common stockholders 121,803 50,703 Ending balance $ 83,029 $ (97,332) ___________________________________________________ (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 the Fund by our equity interest in the Fund.
Schedule of Stock-based Compensation Expense	The table below presents our stock-based compensation expense: Three Months Ended March 31, (In thousands) 2022 2021 Stock-based compensation expense, net $ 2,581 $ 2,694 Capitalized stock-based compensation $ 791 $ 715

EPS (Tables)

EPS (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Numerator (In thousands): Net income attributable to common stockholders $ 25,514 $ 11,601 Allocation to participating securities: Unvested LTIP Units (226) (219) Net income attributable to common stockholders - basic and diluted $ 25,288 $ 11,382 Denominator (In thousands): Weighted average shares of common stock outstanding - basic and diluted (1) 175,656 175,464 Net income per common share - basic and diluted $ 0.14 $ 0.06 ____________________________________________________ (1) Outstanding OP Units and vested LTIP Units are not included in the denominator in calculating diluted EPS, even though they may be exchanged under certain conditions for common stock on a one-for-one basis, because their associated net income (equal on a per unit basis to the Net income per common share - diluted) was already deducted in calculating Net income attributable to common stockholders. Accordingly, any exchange would not have any effect on diluted EPS. The table below presents the weighted average OP Units and vested LTIP Units outstanding for the respective periods: Three Months Ended March 31, (In thousands) 2022 2021 OP Units 29,365 28,203 Vested LTIP Units 1,592 1,871

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2022
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) March 31, 2022 December 31, 2021 Fair value $ 5,017,170 $ 5,017,494 Carrying value $ 5,050,416 $ 5,050,732 (In thousands) March 31, 2022 December 31, 2021 Fair value $ 8,086 $ 8,861 Carrying value $ 10,856 $ 10,860
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	The table below presents the estimated fair value of our derivatives: (In thousands) March 31, 2022 December 31, 2021 Derivative Assets: Fair value - consolidated derivatives (1) $ 125,189 $ 15,473 Fair value - unconsolidated Fund's derivatives (2) $ 7,564 $ 1,963 Derivative Liabilities: Fair value - consolidated derivatives (1) $ 6,667 $ 69,930 Fair value - unconsolidated Fund's derivatives (2) $ — $ — ____________________________________________________ (1) Consolidated derivatives, which include 100%, not our pro-rata share, of our consolidated JVs' derivatives, are included in interest rate contracts in our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable in the consolidated balance sheets. (2) The amounts reflect 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. Our pro-rata share of the amounts related to the unconsolidated Fund's derivatives is included in our Investment in unconsolidated Fund in our consolidated balance sheets. Our unconsolidated Fund did not have any derivatives in a liability position during the periods presented. See Note 6 for more information about our Fund, including our equity interest percentage, and see "Guarantees" in Note 16 regarding our Fund's derivatives.

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2022
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 March 31, 2022 2021 Office Segment Total office revenues $ 203,140 $ 186,643 Office expenses (67,374) (62,178) Office segment profit 135,766 124,465 Multifamily Segment Total multifamily revenues 35,742 29,652 Multifamily expenses (10,173) (9,311) Multifamily segment profit 25,569 20,341 Total profit from all segments $ 161,335 $ 144,806
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 March 31, 2022 2021 Total profit from all segments $ 161,335 $ 144,806 General and administrative expenses (11,240) (9,571) Depreciation and amortization (89,365) (92,797) Other income 367 351 Other expenses (183) (163) Income from unconsolidated Fund 247 167 Interest expense (34,902) (35,205) Net income 26,259 7,588 Less: Net (income) loss attributable to noncontrolling interests (745) 4,013 Net income attributable to common stockholders $ 25,514 $ 11,601

Future Minimum Lease Rental R_2

Future Minimum Lease Rental Receipts (Tables)	3 Months Ended
	Mar. 31, 2022
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 for our consolidated properties at March 31, 2022: Twelve months ending March 31: (In thousands) 2023 $ 628,283 2024 530,024 2025 428,543 2026 332,702 2027 246,890 Thereafter 673,309 Total future minimum base rentals (1) $ 2,839,751 ___________________________________ (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 will not be exercised.

Overview - Narrative (Details)

Overview - Narrative (Details) $ in Thousands, ft² in Millions	Mar. 31, 2022USD ($)ft²apartmentparcelunit	Dec. 31, 2021USD ($)	Mar. 31, 2021ft²
Real Estate Properties [Line Items]
Principal balance	$ 5,046,523	$ 5,046,725
Number of joint ventures consolidated | apartment	3
Consolidated assets	$ 9,440,314	9,354,032
Investment in real estate, net	8,744,836	8,790,432
Consolidated liabilities	5,314,617	5,367,479
Secured notes payable and revolving credit facility, net	5,013,876	5,012,076
Wholly Owned Subsidiaries
Real Estate Properties [Line Items]
Principal balance	3,411,523	3,411,725
Consolidated entities
Real Estate Properties [Line Items]
Consolidated assets	3,590,000	3,560,000
Investment in real estate, net	3,260,000	3,280,000
Consolidated liabilities	1,710,000	1,720,000
Secured notes payable and revolving credit facility, net	$ 1,640,000	$ 1,640,000
Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Number of properties subject to ground leases | parcel	2
Office Buildings | Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	17.8
Office Buildings | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	0.4		0.4
Multifamily | Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Number of multifamily apartment units | unit	4,415

Overview - Schedule of Properti

Overview - Schedule of Properties Portfolio (Details) - property	Mar. 31, 2022	Mar. 31, 2021
Real Estate Properties [Line Items]
Number of properties	83
Office
Real Estate Properties [Line Items]
Number of properties	71
Office | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	53
Office | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	16
Office | Unconsolidated Fund properties
Real Estate Properties [Line Items]
Number of properties	2	2
Multifamily
Real Estate Properties [Line Items]
Number of properties	12
Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	11
Multifamily | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	1
Consolidated Portfolio
Real Estate Properties [Line Items]
Number of properties	81
Consolidated Portfolio | Office
Real Estate Properties [Line Items]
Number of properties	69
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	16
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	12
Consolidated Portfolio | Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	11
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 (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Accounting Policies [Abstract]
Charge for uncollectible amounts	$ 0.1	$ 1.8
Office parking revenue	19	$ 14.8
Office parking receivables	$ 0.8		$ 0.8

Investment in Real Estate - Inv

Investment in Real Estate - Investment in Real Estate (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Real Estate Properties [Line Items]
Land	$ 1,150,821	$ 1,150,821
Buildings and improvements	9,359,788	9,344,087
Tenant improvements and lease intangibles	936,698	935,639
Property under development	394,386	388,530
Investment in real estate, gross	11,841,693	$ 11,819,077
Building Improvements
Real Estate Properties [Line Items]
Property under development balances transferred to Building and improvements for real estate placed into service	$ 8,600

Ground Lease - Narrative (Detai

Ground Lease - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Lessee Disclosure [Abstract]
Fixed rent payments due per year on ground lease	$ 733
Ground lease right-of-use asset	7,461		$ 7,464
Ground lease liability	10,856		$ 10,860
Ground rent expense	$ 182	$ 182

Ground Lease - Future Minimum G

Ground Lease - Future Minimum Ground Lease Payments (Details) $ in Thousands	Mar. 31, 2022USD ($)
Future minimum ground lease payments for twelve months ending September 30:
2023	$ 733
2024	733
2025	733
2026	733
2027	733
Thereafter	43,796
Total future minimum lease payments	$ 47,461

Acquired Lease Intangibles - Su

Acquired Lease Intangibles - Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 3,969	$ 4,168
Acquired lease intangible liabilities, net	22,714	24,710
Above Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	5,519	6,406
Accumulated amortization	(2,440)	(3,132)
Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	1,152	1,152
Accumulated amortization	(262)	(258)
Below Market Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Below-market tenant leases	55,375	58,209
Below-market tenant leases - accumulated accretion	$ (32,661)	$ (33,499)

Acquired Lease Intangibles - Im

Acquired Lease Intangibles - Impact on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ 1,797	$ 3,114
Rental revenues | Tenant Lease
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	1,801	3,118
Office parking and other income | Above Market Ground Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Amortization/accretion of above/below-market leases	$ (4)	$ (4)

Investment in Unconsolidated _3

Investment in Unconsolidated Fund - Narrative (Details) ft² in Millions	Mar. 31, 2022ft²property	Mar. 31, 2021ft²property
Schedule of Equity Method Investments [Line Items]
Number of properties	83
Percentage of amounts related to the Fund	100.00%
Partnership X
Schedule of Equity Method Investments [Line Items]
Equity interest of the fund (percent)	33.50%	33.50%
Office Buildings
Schedule of Equity Method Investments [Line Items]
Number of properties	71
Office Buildings | Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of properties	2	2
Area of real estate portfolio (sq ft) | ft²	0.4	0.4

Investment in Unconsolidated _4

Investment in Unconsolidated Fund - Summary of Cash Distributions Received from Funds (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Real Estate Investments, Net [Abstract]
Operating distributions received	$ 244	$ 164
Capital distributions received	531	194
Total distributions received	$ 775	$ 358

Investment in Unconsolidated _5

Investment in Unconsolidated Fund - Selected Financial Information (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Balance Sheet
Total assets	$ 9,440,314		$ 9,354,032
Total liabilities	5,314,617		5,367,479
Total equity	2,517,947		2,416,069
Statement of Operations
Total revenues	238,882	$ 216,295
Net income	25,514	11,601
Unconsolidated Funds
Balance Sheet
Total assets	144,662		139,171
Total liabilities	118,512		117,668
Total equity	26,150		$ 21,503
Statement of Operations
Total revenues	4,397	4,002
Operating income	1,296	1,005
Net income	$ 622	$ 396

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021	Mar. 31, 2021
Other Assets [Abstract]
Restricted cash	$ 101	$ 101	$ 132
Prepaid expenses	13,476	15,936
Indefinite-lived intangibles	1,988	1,988
Deposits in escrow	25,000	0
Furniture, fixtures and equipment, net	2,425	2,499
Other	5,469	5,197
Total other assets	$ 48,459	$ 25,721

Secured Notes Payable and Rev_3

Secured Notes Payable and Revolving Credit Facility, Net - Schedule of Secured Notes Payable and Revolving Credit Facility (Details)	3 Months Ended
	Mar. 31, 2022USD ($)property	Jul. 01, 2022	Dec. 31, 2021USD ($)
Debt Instrument [Line Items]
Total consolidated debt	$ 5,046,523,000		$ 5,046,725,000
Unamortized loan premium, net	3,893,000		4,007,000
Unamortized deferred loan costs, net	(36,540,000)		(38,656,000)
Secured notes payable and revolving credit facility, net	$ 5,013,876,000		5,012,076,000
Minimum number of separate collateral pools used to secure loans | property	1
Loan premium accumulated amortization	$ 3,300,000		3,200,000
Accumulated amortization on deferred loan costs	$ 48,200,000		46,300,000
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
Floating rate term loan | Partnership X
Debt Instrument [Line Items]
Maturity date	Sep. 14, 2028
Total consolidated debt	$ 115,000,000
Loan agreement LIBOR floor	0.00%
Floating rate term loan | LIBOR | Partnership X
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%
Wholly Owned Subsidiaries
Debt Instrument [Line Items]
Total consolidated debt	$ 3,411,523,000		3,411,725,000
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.84% Mar 03 2025
Debt Instrument [Line Items]
Maturity date	Mar. 3, 2025
Total consolidated debt	$ 335,000,000		335,000,000
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]
Debt instrument, basis spread on variable rate	1.30%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.76% Apr 01 2025
Debt Instrument [Line Items]
Maturity date	Apr. 1, 2025
Total consolidated debt	$ 102,400,000		102,400,000
Fixed interest rate	2.76%
Swap Maturity Date	Mar. 1, 2023
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 2.76% Apr 01 2025 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.25%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.07% Aug 15 2026
Debt Instrument [Line Items]
Maturity date	Aug. 15, 2026
Total consolidated debt	$ 415,000,000		415,000,000
Fixed interest rate	3.07%
Swap Maturity Date	Aug. 1, 2025
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.07% Aug 15 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.10%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.44% Sep 19 2026
Debt Instrument [Line Items]
Maturity date	Sep. 19, 2026
Total consolidated debt	$ 400,000,000		400,000,000
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]
Debt instrument, basis spread on variable rate	1.15%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.36% Sep 26 2026
Debt Instrument [Line Items]
Maturity date	Sep. 26, 2026
Total consolidated debt	$ 200,000,000		200,000,000
Fixed interest rate	2.36%
Swap Maturity Date	Oct. 1, 2024
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.36% Sep 26 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.20%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.31% Nov 01 2026
Debt Instrument [Line Items]
Maturity date	Nov. 1, 2026
Total consolidated debt	$ 400,000,000		400,000,000
Fixed interest rate	2.31%
Swap Maturity Date	Oct. 1, 2024
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.31% Nov 01 2026 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.15%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.16% Jun 01 2027
Debt Instrument [Line Items]
Maturity date	Jun. 1, 2027
Total consolidated debt	$ 550,000,000		550,000,000
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]
Debt instrument, basis spread on variable rate	1.37%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.21% May 18 2028
Debt Instrument [Line Items]
Maturity date	May 18, 2028
Total consolidated debt	$ 300,000,000		300,000,000
Fixed interest rate	2.21%
Swap Maturity Date	Jun. 1, 2026
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 2.21% May 18 2028 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.40%
Wholly Owned Subsidiaries | Secured Debt | Term loan at 2.66% January 1, 2029
Debt Instrument [Line Items]
Maturity date	Jan. 1, 2029
Total consolidated debt	$ 300,000,000		300,000,000
Swap Maturity Date	Jan. 1, 2027
Wholly Owned Subsidiaries | Secured Debt | Term loan at 2.66% January 1, 2029 | Minimum
Debt Instrument [Line Items]
Fixed interest rate	3.42%
Wholly Owned Subsidiaries | Secured Debt | Term loan at 2.66% January 1, 2029 | Maximum
Debt Instrument [Line Items]
Fixed interest rate	2.66%
Wholly Owned Subsidiaries | Secured Debt | Term loan at 2.66% January 1, 2029 | SOFR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.56%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.26% Jun 01 2029
Debt Instrument [Line Items]
Maturity date	Jun. 1, 2029
Total consolidated debt	$ 255,000,000		255,000,000
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]
Debt instrument, basis spread on variable rate	0.98%
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.25% Jun 01 2029
Debt Instrument [Line Items]
Maturity date	Jun. 1, 2029
Total consolidated debt	$ 125,000,000		125,000,000
Fixed interest rate	3.25%
Swap Maturity Date	Jun. 1, 2027
Wholly Owned Subsidiaries | Secured Debt | Fannie Mae Loan at 3.25% Jun 01 2029 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.98%
Wholly Owned Subsidiaries | Secured Debt | Term Loan at 4.55% Jun 01 2038
Debt Instrument [Line Items]
Maturity date	Jun. 1, 2038
Total consolidated debt	$ 29,123,000		29,325,000
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
Total consolidated debt	$ 0		0
Debt instrument, face amount	$ 400,000,000
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]
Debt instrument, basis spread on variable rate	1.15%
Consolidated JV | Secured Debt | Term Loan at 3.47% Dec 19 2024
Debt Instrument [Line Items]
Maturity date	Dec. 19, 2024
Total consolidated debt	$ 400,000,000		400,000,000
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]
Debt instrument, basis spread on variable rate	1.30%
Consolidated JV | Secured Debt | Term Loan at 3.04% May 15 2027
Debt Instrument [Line Items]
Maturity date	May 15, 2027
Total consolidated debt	$ 450,000,000		450,000,000
Fixed interest rate	3.04%
Swap Maturity Date	Apr. 1, 2025
Consolidated JV | Secured Debt | Term Loan at 3.04% May 15 2027 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%
Consolidated JV | Secured Debt | Term Loan at 1.35% Aug 19 2028
Debt Instrument [Line Items]
Maturity date	Aug. 19, 2028
Total consolidated debt	$ 625,000,000		625,000,000
Fixed interest rate	2.12%
Swap Maturity Date	Jun. 1, 2025
Consolidated JV | Secured Debt | Term Loan at 1.35% Aug 19 2028 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.35%
Consolidated JV | Secured Debt | Fannie Mae at 3.25% Jun 01 2029
Debt Instrument [Line Items]
Maturity date	Jun. 1, 2029
Total consolidated debt	$ 160,000,000		$ 160,000,000
Fixed interest rate	3.25%
Swap Maturity Date	Jul. 1, 2027
Consolidated JV | Secured Debt | Fannie Mae at 3.25% Jun 01 2029 | LIBOR
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.98%
Forecast | Wholly Owned Subsidiaries | Secured Debt | Term Loan at 3.04% May 15 2027
Debt Instrument [Line Items]
Fixed interest rate		2.26%

Secured Notes Payable and Rev_4

Secured Notes Payable and Revolving Credit Facility, Net - Debt by Type (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Principal balance	$ 5,046,523	$ 5,046,725
Aggregate swapped to fixed rate loans
Debt Instrument [Line Items]
Principal balance	5,017,400	5,017,400
Aggregate fixed rate loans
Debt Instrument [Line Items]
Principal balance	$ 29,123	$ 29,325

Secured Notes Payable and Rev_5

Secured Notes Payable and Revolving Credit Facility, Net - Debt Statistics (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)
Debt Disclosure [Abstract]
Principal balance (in billions)	$ 5,050,000
Weighted average remaining life (including extension options)	5 years 2 months 12 days
Weighted average remaining fixed interest period	2 years 9 months 18 days
Weighted average annual interest rate	2.89%

Secured Notes Payable and Rev_6

Secured Notes Payable and Revolving Credit Facility, Net - Future Principal Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Minimum Future Principal Payments Due
2023	$ 833
2024	871
2025	735,912
2026	103,354
2027	1,415,999
Thereafter	2,789,554
Total future principal payments	$ 5,046,523	$ 5,046,725

Secured Notes Payable and Rev_7

Secured Notes Payable and Revolving Credit Facility, Net - Loan Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Loan Costs Included In Interest Expense
Loan premium amortized and written off	$ (113)	$ (113)
Deferred loan costs amortized and written off	2,012	2,021
Interest Expense
Loan Costs Included In Interest Expense
Loan premium amortized and written off	(113)	(113)
Deferred loan costs amortized and written off	2,012	2,021
Total	$ 1,899	$ 1,908

Interest Payable, Accounts Pa_3

Interest Payable, Accounts Payable and Deferred Revenue (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Accounts Payable and Accrued Liabilities [Abstract]
Interest payable	$ 12,467	$ 12,254
Accounts payable and accrued liabilities	98,740	83,150
Deferred revenue	43,725	50,056
Total interest payable, accounts payable and deferred revenue	$ 154,932	$ 145,460

Derivative Contracts - Derivati

Derivative Contracts - Derivative Summary (Details)	Mar. 31, 2022USD ($)instrument
Derivative [Line Items]
Percentage of notional amount disclosed	100.00%
Unconsolidated Funds
Derivative [Line Items]
Percentage of notional amount disclosed	100.00%
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	35
Notional	$ 5,017,400,000
Percentage of notional amount disclosed	100.00%
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging | Unconsolidated Funds
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	2
Notional	$ 115,000,000
Percentage of notional amount disclosed	100.00%
Swaps with increasing notional value | Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	2
Notional	$ 50,000,000
Future notional	$ 450,000,000

Derivative Contracts - Credit-r

Derivative Contracts - Credit-risk related Contingent Features (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Percentage of notional amount disclosed	100.00%
Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Percentage of notional amount disclosed	100.00%
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative Instruments, Gain (Loss) [Line Items]
Fair value derivatives in net liability position	$ 9,290	$ 77,760
Percentage of notional amount disclosed	100.00%
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging | Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Fair value derivatives in net liability position	$ 0	$ 0
Percentage of notional amount disclosed	100.00%

Derivative Contracts - Counterp

Derivative Contracts - Counterparty Credit Risk (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 125,189	$ 15,473
Percentage of notional amount disclosed	100.00%
Unconsolidated Funds
Derivative Instruments, Gain (Loss) [Line Items]
Percentage of notional amount disclosed	100.00%
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	$ 122,129	14,927
Percentage of notional amount disclosed	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	$ 7,572	$ 1,889
Percentage of notional amount disclosed	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
	Mar. 31, 2022	Mar. 31, 2021
Derivative [Line Items]
Gain (losses) recorded in AOCI before reclassifications	$ 154,944	$ 58,346
Interest Expense presented in the consolidated statements of operations	(34,902)	(35,205)
Income from unconsolidated Fund presented in the consolidated statements of operations	247	167
Unconsolidated Funds
Derivative [Line Items]
Gain (losses) recorded in AOCI before reclassifications	1,774	(1)
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges
Derivative [Line Items]
Gain (losses) recorded in AOCI before reclassifications	154,944	58,346
Loss reclassified from AOCI to interest expense	17,649	18,078
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges | Unconsolidated Funds
Derivative [Line Items]
Gain (losses) recorded in AOCI before reclassifications	1,774	(1)
Loss reclassified from AOCI to interest expense	$ 67	$ 46

Derivative Contracts - Future R

Derivative Contracts - Future Reclassifications from AOCI (Details) $ in Thousands	Mar. 31, 2022USD ($)
Derivative [Line Items]
Derivative gain (loss) to be reclassified during next year	$ 10,809
Unconsolidated Funds
Derivative [Line Items]
Derivative gain (loss) to be reclassified during next year	$ 366

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Number common shares issued in exchange for equal number of OP units (in shares)	243,000	7,000
Number of OP units and fully-vested LTIP units redeemed (in shares)	9,000	4,000
Cash paid for repurchase OP units	$ 313	$ 105
Outstanding common stock (in shares)	175,771,568		175,529,133
Number of shares of common stock issued upon redemption of one OP unit (in shares)	1
Conversion rate for operating partnership	1
Operating Partnership
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests ownership in the operating partnership (in shares)	30,800,000
Noncontrolling interests ownership in the operating partnership (percent)	15.00%
Outstanding common stock (in shares)	175,800,000

Equity - Changes in Ownership I

Equity - Changes in Ownership Interest in Operating Partnership (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Net income attributable to common stockholders	$ 25,514	$ 11,601
Transfers from noncontrolling interests:
Exchange of OP Units with noncontrolling interests	3,944	109
Repurchase of OP Units from noncontrolling interests	(168)	(48)
Net transfers from noncontrolling interests	3,776	61
Change from net income attributable to common stockholders and transfers from noncontrolling interests	$ 29,290	$ 11,662

Equity - AOCI Reconciliation (D

Equity - AOCI Reconciliation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 3,986,553	$ 3,996,019
Other comprehensive income before reclassifications	154,944	58,346
Reclassification of losses from AOCI to Interest Expense	17,649	18,078
Net current period OCI	174,434	76,469
OCI attributable to noncontrolling interests	(52,631)	(25,766)
OCI attributable to common stockholders	121,803	50,703
Ending balance	4,125,697	4,020,525
Unconsolidated Funds
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income before reclassifications	1,774	(1)
Reclassification of losses from AOCI to Interest Expense	67	46
AOCI
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	(38,774)	(148,035)
Ending balance	$ 83,029	$ (97,332)

Equity - Equity Compensation (D

Equity - Equity Compensation (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Stockholders' Equity Note [Abstract]
Stock-based compensation expense, net	$ 2,581	$ 2,694
Capitalized stock-based compensation	$ 791	$ 715

EPS (Details)

EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Earnings Per Share [Abstract]
Net income attributable to common stockholders	$ 25,514	$ 11,601
Allocation to participating securities: Unvested LTIP Units	(226)	(219)
Net income attributable to common stockholders - basic	25,288	11,382
Net income attributable to common stockholders - diluted	$ 25,288	$ 11,382
Weighted average shares of common stock outstanding, basic (in shares)	175,656,000	175,464,000
Weighted average shares of common stock outstanding, diluted (in shares)	175,656,000	175,464,000
Net income per common share, basic (in dollars per share)	$ 0.14	$ 0.06
Net income per common share, diluted (in dollars per share)	$ 0.14	$ 0.06
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Number of shares of common stock issued upon exchange of one OP unit or one vested LTIP unit (in shares)	1	1
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)	29,365,000	28,203,000
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)	1,592,000	1,871,000

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Financial Instruments Disclosed at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ground lease liability	$ 10,856	$ 10,860
Fair value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	5,017,170	5,017,494
Ground lease liability	8,086	8,861
Carrying value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	5,050,416	5,050,732
Ground lease liability	$ 10,856	$ 10,860

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Mar. 31, 2022	Dec. 31, 2021
Derivative Assets:
Interest rate contract assets	$ 125,189	$ 15,473
Derivative Liabilities:
Fair value - derivatives	$ 6,667	69,930
Percentage of notional amount disclosed	100.00%
Unconsolidated Funds
Derivative Liabilities:
Percentage of notional amount disclosed	100.00%
Level 2
Derivative Assets:
Interest rate contract assets	$ 125,189	15,473
Derivative Liabilities:
Fair value - derivatives	6,667	69,930
Level 2 | Unconsolidated Funds
Derivative Assets:
Interest rate contract assets	7,564	1,963
Derivative Liabilities:
Fair value - derivatives	$ 0	$ 0

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	3 Months Ended
	Mar. 31, 2022segment
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
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting Information [Line Items]
Total revenues	$ 238,882	$ 216,295
Segment profit	161,335	144,806
Office Segment
Segment Reporting Information [Line Items]
Total revenues	203,140	186,643
Expenses	(67,374)	(62,178)
Segment profit	135,766	124,465
Multifamily Segment
Segment Reporting Information [Line Items]
Total revenues	35,742	29,652
Expenses	(10,173)	(9,311)
Segment profit	$ 25,569	$ 20,341

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Profit to Net Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2022	Mar. 31, 2021
Segment Reporting [Abstract]
Total profit from all segments	$ 161,335	$ 144,806
General and administrative expenses	(11,240)	(9,571)
Depreciation and amortization	(89,365)	(92,797)
Other income	367	351
Other expenses	(183)	(163)
Income from unconsolidated Fund	247	167
Interest expense	(34,902)	(35,205)
Net income	26,259	7,588
Less: Net (income) loss attributable to noncontrolling interests	(745)	4,013
Net income attributable to common stockholders	$ 25,514	$ 11,601

Future Minimum Lease Rental R_3

Future Minimum Lease Rental Receipts (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)parcel
Future minimum base rentals to be received for twelve months ending September 30:
2023	$ 628,283
2024	530,024
2025	428,543
2026	332,702
2027	246,890
Thereafter	673,309
Total future minimum base rentals	$ 2,839,751
Future minimum payments receivable maximum term	1 year
Wholly-owned properties
Lessor, Lease, Description [Line Items]
Number of land parcels subject to ground lease | parcel	2

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees - Narrative (Details) ft² in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2022USD ($)ft²propertyapartmentbuilding	Dec. 31, 2021USD ($)
Other Commitments [Line Items]
Number of buildings containing asbestos | building	32
Principal balance	$ 5,046,523	$ 5,046,725
Partnership X
Other Commitments [Line Items]
Maximum future payments under swap agreement	4,400
Partnership X | Floating rate term loan
Other Commitments [Line Items]
Principal balance	$ 115,000
Maturity date	Sep. 14, 2028
Loan agreement LIBOR floor	0.00%
Number of properties to secure loan | property	2
Partnership X | Floating rate term loan | Interest Rate Swap
Other Commitments [Line Items]
Fixed interest rate	2.19%
Swap Maturity Date	Oct. 1, 2026
Partnership X | Floating rate term loan | LIBOR
Other Commitments [Line Items]
Debt instrument, basis spread on variable rate	1.35%
Repositionings, Capital Expenditure Projects, and Tenant Improvements
Other Commitments [Line Items]
Aggregate remaining contractual commitment	$ 30,200
Development Projects
Other Commitments [Line Items]
Aggregate remaining contractual commitment	$ 58,900
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	493
Retail square footage (sq ft) | ft²	493

Subsequent Events (Details)

Subsequent Events (Details) $ in Thousands	Apr. 26, 2022USD ($)unit	Mar. 31, 2022USD ($)	Dec. 31, 2021USD ($)
Subsequent Event [Line Items]
Deposits in escrow		$ 25,000	$ 0
Other Assets
Subsequent Event [Line Items]
Deposits in escrow		$ 25,000
Subsequent Event | Variable Interest Entity, Primary Beneficiary
Subsequent Event [Line Items]
Capital interest in consolidated JV (percent)	55.00%
Subsequent Event | Variable Interest Entity, Primary Beneficiary | Term Loan With Maturity April, 2029 | Secured Debt
Subsequent Event [Line Items]
Debt instrument, face amount	$ 175,000
Fixed interest rate	3.90%
Subsequent Event | Multifamily
Subsequent Event [Line Items]
Payments to acquire real estate property	$ 330,000
Number of luxury multifamily apartment building units | unit	120