Douglas Emmett (DEI) 10-K 16 Feb 24 2023 FY Annual report Financial data

Cover Page

Cover Page - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2023	Feb. 09, 2024	Jun. 30, 2023
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2023
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	1-33106
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, 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 Well-known Seasoned Issuer	Yes
Entity Voluntary Filers	No
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
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction Flag	false
Entity Shell Company	false
Entity Public Float			$ 2,000
Common Shares Outstanding		167,351,920
Documents Incorporated by Reference	Portions of the registrant’s definitive proxy statement to be filed in conjunction with the registrant’s annual meeting of shareholders to be held in 2024 are incorporated by reference in Part III of this Report on Form 10-K. Such proxy statement will be filed by the registrant with the Securities and Exchange Commission not later than 120 days after the end of the registrant’s fiscal year ended December 31, 2023.
Entity Central Index Key	0001364250
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	FY
Amendment Flag	false

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2023
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Los Angeles California
Auditor Firm ID	42

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Assets
Investment in real estate, gross	$ 12,405,814	$ 12,292,973
Less: accumulated depreciation and amortization	(3,652,630)	(3,299,365)
Investment in real estate, net	8,753,184	8,993,608
Ground lease right-of-use asset	7,447	7,455
Cash and cash equivalents	523,082	268,837
Tenant receivables	6,096	6,879
Deferred rent receivables	115,321	114,980
Acquired lease intangible assets, net	2,971	3,536
Interest rate contract assets	170,880	270,234
Investment in unconsolidated Fund	15,977	47,976
Other assets	49,260	33,941
Total Assets	9,644,218	9,747,446
Liabilities
Secured notes payable, net	5,543,171	5,191,893
Ground lease liability	10,836	10,848
Interest payable, accounts payable and deferred revenue	131,237	140,925
Security deposits	61,958	61,429
Acquired lease intangible liabilities, net	19,838	31,364
Interest rate contract liabilities	0	1,790
Dividends payable	31,781	33,414
Total Liabilities	5,798,821	5,471,663
Douglas Emmett, Inc. stockholders' equity:
Common Stock, $0.01 par value, 750,000,000 authorized, 167,206,267 and 175,809,682 outstanding at December 31, 2023 and December 31, 2022, respectively	1,672	1,758
Additional paid-in capital	3,392,955	3,493,307
Accumulated other comprehensive income	115,917	187,063
Accumulated deficit	(1,290,682)	(1,119,714)
Total Douglas Emmett, Inc. stockholders' equity	2,219,862	2,562,414
Noncontrolling interests	1,625,535	1,713,369
Total Equity	3,845,397	4,275,783
Total Liabilities and Equity	$ 9,644,218	$ 9,747,446

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 2023	Dec. 31, 2022
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)	167,206,267	175,809,682

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Revenues
Total revenues	$ 1,020,488	$ 993,652	$ 918,397
Operating Expenses
General and administrative expenses	49,236	45,405	42,554
Depreciation and amortization	459,949	372,798	371,289
Total operating expenses	870,818	752,024	717,244
Other income	19,633	4,587	2,465
Other expenses	(1,032)	(714)	(937)
(Loss) income from unconsolidated Fund	(34,643)	1,224	946
Interest expense	(209,468)	(150,185)	(147,496)
Net (loss) income	(75,840)	96,540	56,131
Net loss attributable to noncontrolling interests	33,134	605	9,136
Net (loss) income attributable to common stockholders	$ (42,706)	$ 97,145	$ 65,267
Net (loss) income per common share - basic (usd per share)	$ (0.26)	$ 0.55	$ 0.37
Net (loss) income per common share – diluted (usd per share)	$ (0.26)	$ 0.55	$ 0.37
Office rental
Revenues
Total revenues	$ 829,945	$ 824,573	$ 786,870
Operating Expenses
Operating expenses	294,310	284,522	265,376
Office rental | Rental revenues and tenant recoveries
Revenues
Total revenues	714,742	724,131	704,946
Office rental | Parking and other income
Revenues
Total revenues	115,203	100,442	81,924
Multifamily rental
Revenues
Total revenues	190,543	169,079	131,527
Operating Expenses
Operating expenses	67,323	49,299	38,025
Multifamily rental | Parking and other income
Revenues
Total revenues	16,247	16,765	15,432
Multifamily rental | Rental revenues
Revenues
Total revenues	$ 174,296	$ 152,314	$ 116,095

Consolidated Statements of Comp

Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (75,840)	$ 96,540	$ 56,131
Other comprehensive (loss) income: cash flow hedges	(100,031)	325,548	158,923
Comprehensive (loss) income	(175,871)	422,088	215,054
Comprehensive loss (income) attributable to noncontrolling interests	62,019	(99,106)	(40,526)
Comprehensive (loss) income attributable to common stockholders	$ (113,852)	$ 322,982	$ 174,528

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Accumulated Other Comprehensive Income (Loss)	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)	65,000	65,000
Ending balance (in shares) at Dec. 31, 2021		175,529,000
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			1,056			(1,056)
Repurchases of OP Units with cash	(122)		(57)			(65)
Net (loss) income attributable to common stockholders	9,136				65,267
Dividends	(196,549)				(196,549)
Net (loss) income	56,131					(9,136)
Cash flow hedge adjustments	158,923			109,261		49,662
Distributions	(54,919)					(54,919)
Stock-based compensation	27,070					27,070
Ending 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]
Dividends declared per common share (in dollars per share)	$ 1.12
Exchange of OP units for common stock (in shares)	281,000	281,000
Ending balance (in shares) at Dec. 31, 2022	175,809,682	175,810,000
Stockholders' Equity [Roll Forward]
Exchange of OP Units for common stock		$ 3	4,597			(4,600)
Repurchases of OP Units with cash	$ (337)		(176)			(161)
Net (loss) income attributable to common stockholders	605				97,145
Dividends	(181,061)				(181,061)
Net (loss) income	96,540					(605)
Cash flow hedge adjustments	325,548			225,837		99,711
Contributions	81,000					81,000
Distributions	(58,969)					(58,969)
Stock-based compensation	26,509					26,509
Ending balance at Dec. 31, 2022	$ 4,275,783	$ 1,758	3,493,307	187,063	(1,119,714)	1,713,369
Stockholders' Equity [Roll Forward]
Dividends declared per common share (in dollars per share)	$ 1.03
Exchange of OP units for common stock (in shares)	468,000	468,000
Repurchase of common stock (in shares)		(9,072,000)
Ending balance (in shares) at Dec. 31, 2023	167,206,267	167,206,000
Stockholders' Equity [Roll Forward]
Exchange of OP Units for common stock		$ 5	7,736			(7,741)
Repurchases of OP Units with cash	$ (2,406)		1,054			(3,460)
Repurchases of common stock	(109,233)	(91)	(109,142)
Net (loss) income attributable to common stockholders	33,134				(42,706)
Dividends	(128,262)				(128,262)
Net (loss) income	(75,840)					(33,134)
Cash flow hedge adjustments	(100,031)			(71,146)		(28,885)
Contributions	125					125
Distributions	(40,589)					(40,589)
Stock-based compensation	25,850					25,850
Ending balance at Dec. 31, 2023	$ 3,845,397	$ 1,672	$ 3,392,955	$ 115,917	$ (1,290,682)	$ 1,625,535
Stockholders' Equity [Roll Forward]
Dividends declared per common share (in dollars per share)	$ 0.76

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Operating Activities
Net (loss) income	$ (75,840)	$ 96,540	$ 56,131
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Loss (income) from unconsolidated Fund	34,643	(1,224)	(946)
Depreciation and amortization	459,949	372,798	371,289
Net accretion of acquired lease intangibles	(10,961)	(11,255)	(9,541)
Straight-line rent	(342)	169	1,051
Loan premium amortized and written off	(460)	(460)	(460)
Deferred loan costs amortized and written off	8,858	7,943	10,902
Amortization of stock-based compensation	19,834	21,025	20,887
Operating distributions from unconsolidated Fund	1,288	1,224	943
Purchase of interest rate caps	(1,622)	0	0
Change in working capital components:
Tenant receivables	783	6,248	5,099
Interest payable, accounts payable and deferred revenue	6,248	(1,399)	(2,842)
Security deposits	529	4,832	(962)
Other assets	(15,943)	447	(4,600)
Net cash provided by operating activities	426,964	496,888	446,951
Investing Activities
Capital expenditures for improvements to real estate	(189,157)	(162,364)	(108,499)
Capital expenditures for developments	(41,480)	(75,754)	(184,592)
Insurance recoveries for damage to real estate	2,181	5,716	3,041
Property acquisition	0	(330,470)	0
Acquisition of additional interest in unconsolidated Fund	(5,214)	0	0
Capital distributions from unconsolidated Fund	80	1,919	1,342
Net cash used in investing activities	(233,590)	(560,953)	(288,708)
Financing Activities
Proceeds from borrowings	505,000	245,000	1,345,000
Repayment of borrowings	(155,862)	(70,823)	(1,075,787)
Loan cost payments	(6,269)	(2,032)	(12,397)
Purchase of interest rate caps	0	(481)	0
Proceeds from sale of interest rate cap	0	444	0
Contributions from noncontrolling interests in consolidated JVs	125	81,000	0
Distributions paid to noncontrolling interests	(40,589)	(58,969)	(54,919)
Dividends paid to common stockholders	(129,895)	(196,805)	(196,529)
Repurchases of OP Units	(2,406)	(337)	(122)
Repurchases of common stock	(109,233)	0	0
Net cash provided by (used in) financing activities	60,871	(3,003)	5,246
Increase (decrease) in cash and cash equivalents and restricted cash	254,245	(67,068)	163,489
Cash and cash equivalents and restricted cash - beginning balance	268,938	336,006	172,517
Cash and cash equivalents and restricted cash - ending balance	523,183	268,938	336,006
Cash and cash equivalents	523,082	268,837	335,905
Restricted cash (included in Other assets on our consolidated balance sheets)	101	101	101
Operating Activities
Cash paid for interest, net of capitalized interest	195,952	141,427	136,999
Capitalized interest paid	1,474	9,101	8,814
Non-cash Investing Transactions
Accrual for real estate and development capital expenditures	16,540	33,783	38,101
Capitalized stock-based compensation for improvements to real estate and developments	6,016	5,479	6,183
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	102,114	100,050	157,325
Removal of fully amortized acquired lease intangible assets	427	1,438	442
Removal of fully accreted acquired lease intangible liabilities	16,843	11,900	23,725
Non-cash Financing Transactions
Gain recorded in AOCI	45,364	326,396	82,876
Dividends declared	128,262	181,061	196,549
Exchange of OP Units for common stock	7,741	4,600	1,056
Unconsolidated Funds
Non-cash Financing Transactions
Gain recorded in AOCI	$ 585	$ 3,780	$ 569

Overview

Overview	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023, our Consolidated Portfolio consisted of (i) a 17.6 million square foot office portfolio, (ii) 4,576 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 December 31, 2023, 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 December 31, 2023, our portfolio consisted of the following (including ancillary retail space and excluding two parcels of land from which we receive rent under ground leases): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 52 52 Consolidated JV properties 16 16 Unconsolidated Fund properties — 2 68 70 Multifamily Wholly-owned properties 12 12 Consolidated JV properties 2 2 14 14 Total 82 84 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 JVs, was $3.76 billion and $3.41 billion, as of December 31, 2023 and December 31, 2022, respectively. See Note 8. We also consolidate four JVs through our Operating Partnership. We consolidate our Operating Partnership and our four JVs because they are VIEs and we or our Operating Partnership are the primary beneficiary for each. As of December 31, 2023, our consolidated VIE entities, excluding our Operating Partnership, had: • aggregate consolidated assets of $3.83 billion (of which $3.47 billion related to investment in real estate), and • aggregate consolidated liabilities of $1.88 billion (of which $1.81 billion related to debt). As of December 31, 2022, our consolidated VIE entities, excluding our Operating Partnership, had: • aggregate consolidated assets of $3.94 billion (of which $3.54 billion related to investment in real estate), and • aggregate consolidated liabilities of $1.89 billion (of which $1.81 billion related to debt). The accompanying 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. The accompanying consolidated financial statements include, in our opinion, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial information set forth therein. Any references to the number or class of properties, square footage, per square footage amounts, apartment units and geography, are unaudited and outside the scope of our independent registered public accounting firm’s audit of our consolidated financial statements in accordance with the standards of the PCAOB.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2023
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	Summary of Significant Accounting Policies 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. Investment in Real Estate Acquisitions and Initial Consolidation of VIEs Acquisitions of properties generally do not meet the definition of a business and are accounted for as asset acquisitions, as substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. We include the acquired properties' results of operations in our results of operations from the respective acquisition date. We allocate the purchase price for asset acquisitions, which includes the capitalized transaction costs, and for the properties upon the initial consolidation of VIEs not determined to be a business, on a relative fair value basis to: (i) land, (ii) buildings and improvements, (iii) tenant improvements and identifiable intangible assets such as in-place at-market leases, (iv) acquired above- and below-market ground and tenant leases (including for renewal options), and if applicable (v) assumed debt and (vi) assumed interest rate swaps. The fair values are based upon comparable sales for land, and the income approach using our estimates of expected future cash flows and other valuation techniques, which include but are not limited to, our estimates of rental rates, revenue growth rates, capitalization rates and discount rates, for other assets and liabilities. We estimate the relative fair values of the tangible assets on an "as-if-vacant" basis. The estimated relative fair value of acquired in-place at-market leases are the estimated costs to lease the property to the occupancy level at the date of acquisition, including the fair value of leasing commissions and legal costs. We evaluate the time period over which we expect such occupancy level to be achieved and include an estimate of the net operating costs (primarily real estate taxes, insurance and utilities) incurred during the lease-up period. Above- and below-market ground and tenant leases are recorded as an asset or liability based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be paid or received pursuant to the in-place ground or tenant leases, respectively, and our estimate of the fair market rental rates for the corresponding in-place leases, over the remaining non-cancelable term of the lease. Assumed debt is recorded at fair value based upon the present value of the expected future payments and current interest rates. See Note 3 for our property acquisition disclosures. Depreciation and Amortization The assets and liabilities listed below are carried on our consolidated balance sheets net of the related accumulated depreciation or amortization/accretion, and any impairment charges. We accelerate depreciation for affected assets when we renovate our buildings or our buildings are impacted by new developments. When assets are sold or retired, their cost and related accumulated depreciation or amortization are removed from our consolidated balance sheets with the resulting gains or losses, if any, reflected in our results of operations for the respective period. • Buildings and improvements are depreciated on a straight-line basis using an estimated life of twenty-five • Tenant improvements are depreciated on a straight-line basis over the life of the related lease, with any remaining balance depreciated in the period of any early lease termination. • Acquired in-place leases are amortized on a straight-line basis over the weighted average remaining term of the acquired in-place leases. • Acquired lease intangibles are amortized on a straight-line basis over the related lease term, with any remaining balance amortized in the period of any early lease termination. • Acquired above- and below-market tenant leases are amortized/accreted on a straight line basis over the life of the related lease and recorded as either an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. • Acquired above- and below-market ground leases, from which we earn ground rent income, are amortized/accreted on a straight line basis over the life of the related lease and recorded either as an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. • Acquired above- and below-market ground leases, for which we incur ground rent expense, are accreted/ amortized over the life of the related lease and recorded either as an increase (for below-market leases) or a decrease (for above-market leases) to expense. Real Estate Held for Sale Properties are classified as held for sale on our consolidated balance sheets when they meet certain requirements, including the approval of the sale of the property, the marketing of the property for sale, and our expectation that the sale will likely occur within the next 12 months. Properties classified as held for sale are carried at the lower of their carrying value or fair value less costs to sell, and we also cease to depreciate the property. As of December 31, 2023 and 2022, we did not have any properties held for sale. Dispositions Recognition of gains or losses from sales of investments in real estate requires that we meet certain revenue recognition criteria and transfer control of the real estate to the buyer. The gain or loss recorded is measured as the difference between the sales price, less costs to sell, and the carrying value of the real estate when we sell it. We did not sell any properties during 2023, 2022 and 2021. Cost Capitalization Costs incurred during the period of construction of real estate are capitalized. Cost capitalization of development and redevelopment activities begins during the predevelopment period, which we define as the activities that are necessary to begin the development of the property. We cease capitalization upon substantial completion of the project, but no later than one year from cessation of major construction activity. We also cease capitalization when activities necessary to prepare the property for its intended use have been suspended. Capitalized costs are included in Investment in real estate, gross, on our consolidated balance sheets. Demolition expenses and repairs and maintenance are recorded as expense when incurred. During 2023, 2022 and 2021, we capitalized $38.0 million, $59.7 million and $185.4 million of costs related to our developments, respectively, which included $1.5 million, $9.1 million and $8.8 million of capitalized interest, respectively. Ground Lease We account for our ground lease, for which we are the lessee, in accordance with Topic 842 "Leases". We classify the ground lease as an operating lease, and we recognize a right-of-use asset for the land and a lease liability for the future lease payments. We recognize the lease payments as expense, which is included in Office expenses in our consolidated statements of operations. See Note 4 for more information regarding this ground lease. See Note 14 for the fair value disclosures related to the ground lease liability. Investment in Unconsolidated Fund As of December 31, 2023 and 2022, we managed and owned an equity interest in one unconsolidated Fund. See Note 6. We account for our investment in our unconsolidated Fund using the equity method because we have significant influence but not control over the Fund. Under the equity method, we initially recorded our investment in our Fund at cost, which includes acquisition basis difference and additional basis for capital raising costs, and subsequently adjust the investment balance for: (i) our share of the Fund's net income or losses, (ii) our share of the Fund's other comprehensive income or losses, (iii) our cash contributions to the Fund and (iv) our distributions received from the Fund. If we sell our interest in the Fund, or if the Fund qualifies for consolidation, we would remove our investment in our unconsolidated Fund from our consolidated balance sheets. Our investment in our unconsolidated Fund is included in Investment in unconsolidated Fund on the consolidated balance sheets. Our share of our Fund's accumulated other comprehensive income or losses is included in Accumulated other comprehensive income (loss) on our consolidated balance sheets. As of December 31, 2023 and 2022, the total investment basis difference included in our investment balance in our unconsolidated Fund was $4.1 million and $27.8 million, respectively. Our share of the net income or losses from our Fund is included in Income (Loss) from unconsolidated Fund in our consolidated statements of operations. We periodically assess whether there has been any impairment that is other than temporary in our investment in our unconsolidated Fund. An impairment charge would be recorded if events or changes in circumstances indicate that a decline in the fair value below the carrying value has occurred and the decline is other-than-temporary. Based upon such periodic assessments, we recorded an impairment charge of $36.2 million during 2023, and no impairment charges occurred during 2022 or 2021. The impairment charge we recorded during 2023 is included in Income (loss) from unconsolidated Fund on our consolidated statement of operations. Impairment of Long-Lived Assets We periodically assess whether there has been any impairment in the carrying value of our properties and whenever events or changes in circumstances indicate that the carrying value of a property may not be recoverable. An impairment charge would be recorded if events or changes in circumstances indicate that a decline in the fair value below the carrying value has occurred and the decline is not recoverable. Recoverability of the carrying value of our properties is measured by a comparison of the carrying value to the undiscounted future cash flows expected to be generated by the property. If the carrying value exceeds the estimated undiscounted future cash flows, an impairment loss is recorded equal to the difference between the property's carrying value and its fair value based on the estimated discounted future cash flows. Based upon such periodic assessments, no impairments occurred during 2023, 2022 or 2021. Cash and Cash Equivalents We consider short-term investments with maturities of three months or less when purchased to be cash equivalents. Revenue Recognition Rental Revenues and Tenant Recoveries We account for our rental revenues, and variable lease payments such as tenant recoveries and parking revenues, in accordance with Topic 842. We adopted a practical expedient which allows us to account for our rental revenues, tenant recoveries and parking revenues on a combined basis. Rental revenues and tenant recoveries from tenant leases are included in Rental revenues and tenant recoveries on our consolidated statements of operations. Parking revenues are included in office Parking and other income on our consolidated statements of operations. See "Office parking revenues" disclosure further below. All of our tenant leases are classified as operating leases. For lease terms exceeding one year, rental income is recognized on a straight-line basis over the lease term. Rental revenue from month-to-month leases or leases with no scheduled rent increases or other adjustments is recognized on a monthly basis when earned. Estimated tenant recoveries for real estate taxes, common area maintenance and other recoverable operating expenses, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, are recognized as revenue on a gross basis in the period that the recoverable expenses are incurred. Subsequent to year-end, in accordance with our policy, we perform reconciliations on a lease-by-lease basis and bill or credit each tenant for any differences between the estimated expenses we billed to the tenant and the actual expenses incurred. Tenant recoveries were $61.6 million, $58.2 million and $56.5 million in 2023, 2022 and 2021, respectively. Tenant receivables consist primarily of amounts due for contractual lease payments and reimbursements of common area maintenance expenses, property taxes, and other costs recoverable from tenants. Deferred rent receivables represent the amount by which the cumulative straight-line rental revenue recorded to date exceeds the cumulative cash rents billed to date under the lease agreement. Lease Terminations Lease termination fees, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, are recognized on a straight line basis over the new remaining lease term when the related lease is canceled. We recognized lease termination revenue of $5.2 million, $1.3 million and $1.2 million during 2023, 2022 and 2021, respectively. Tenant Improvements Tenant improvements constructed, and owned by us, and reimbursed by tenants are recorded as our assets, and the related revenue, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, is recognized over the related lease term. We recognized revenue for reimbursement of tenant improvements of $5.8 million, $4.8 million and $5.8 million during 2023, 2022 and 2021, respectively. 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. 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 in the period they are collected. 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. Charges for uncollectible tenant receivables and deferred rent receivables reduced our office revenues by $0.8 million, $0.6 million, and $3.0 million in 2023, 2022, and 2021 respectively. We restored accrual basis accounting for certain office tenants that were previously determined to be uncollectible and accounted for on a cash basis of accounting, which increased our office revenues by $4.4 million and $3.6 million in 2023 and 2022, respectively. Parking and Other Income Office Parking Revenues 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 $92.2 million, $84.9 million and $69.0 million in 2023, 2022 and 2021, respectively, and are included in office Parking and other income on our consolidated statements of operations. Office parking receivables were $0.8 million and $0.9 million as of December 31, 2023 and 2022, respectively, and are included in Tenant receivables on our consolidated balance sheets. Ground Lease Revenues We own two parcels of land from which we receive rent under ground leases. We account for our ground lease revenues as operating leases in accordance with Topic 842. Ground lease revenues were $7.9 million, $2.1 million and $0.3 million in 2023, 2022 and 2021, respectively, and are included in office Parking and other income Insurance Recoveries The amount by which insurance recoveries related to property damage exceed any losses recognized from that damage are recorded as Other income on our consolidated statements of operations when payment has been received or confirmation of the amount of proceeds has been received. In January 2020, there was a fire in one of our residential property buildings. We carry comprehensive liability and property insurance covering all of the properties in our portfolio under blanket insurance policies to cover these kinds of losses. We recorded $1.3 million, $3.9 million, and $4.8 million of business interruption revenues during 2023, 2022 and 2021, respectively, which is included in Multifamily rental - Parking and other income Interest Income Interest income from our short-term money market fund investments is recognized on an accrual basis. Interest income is included in Other income on our consolidated statements of operations. Leasing Costs We account for our leasing costs in accordance with Topic 842. In accordance with Topic 842, we capitalize initial direct costs of a lease, which are costs that would not have been incurred had the lease not been executed. Costs to negotiate a lease that would have been incurred regardless of whether the lease was executed, such as employee salaries, are not considered to be initial direct costs, and are expensed as incurred. Loan Costs Loan costs incurred directly with the issuance of secured notes payable are deferred and amortized to interest expense over the respective loan or credit facility term. Any unamortized amounts are written off upon early repayment of the secured notes payable, and the related cost and accumulated amortization are removed from our consolidated balance sheets. To the extent that a refinancing is considered an exchange of debt with the same lender, we account for loan costs based upon whether the old debt is determined to be modified or extinguished for accounting purposes. If the old debt is determined to be modified then we (i) continue to defer and amortize any unamortized deferred loan costs associated with the old debt at the time of the modification over the new term of the modified debt, (ii) defer and amortize the lender costs incurred in connection with the modification over the new term of the modified debt, and (iii) expense all other costs associated with the modification. If the old debt is determined to be extinguished then we (i) write off any unamortized deferred loan costs associated with the extinguished debt at the time of the extinguishment and remove the related cost and accumulated amortization from our consolidated balance sheets, (ii) expense all lender costs associated with the extinguishment, and (iii) defer and amortize all other costs incurred directly in connection with the extinguishment over the term of the new debt. Deferred loan costs are presented on the consolidated balance sheets as a deduction from the carrying amount of our secured notes payable. All loan costs expensed and deferred loan costs amortized are included in interest expense in our consolidated statements of operations. See Note 8 for our loan cost disclosures. Debt Discounts and Premiums Debt discounts and premiums related to recording debt assumed in connection with property acquisitions at fair value are generally amortized and accreted, respectively, over the remaining term of the related loan, which approximates the effective interest method. The amortization/accretion is included in interest expense in our consolidated statements of operations. Derivative Contracts We make use of interest rate swap and cap contracts to manage the risk associated with changes in interest rates on our floating-rate debt and to satisfy certain lender requirements. 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 also enter into interest rate cap agreements from time to time to cap the interest rates on our floating rate loans. We may enter into derivative contracts that are intended to hedge certain economics risks, even though hedge accounting does not apply or we elect to not apply hedge accounting. We do not speculate in derivatives and we do not make use of any other derivative instruments. When entering into derivative agreements, we generally elect to designate them as cash flow hedges for accounting purposes. Changes in fair value of hedging instruments designated as cash flow hedges are recorded in accumulated other comprehensive income (loss) (AOCI), which is a component of equity outside of earnings. For our Fund's hedging instruments designated as cash flow hedges, we record our share of the changes in fair value of the hedging instrument in AOCI. Amounts recorded in AOCI related to our designated hedges are reclassified to Interest expense as interest payments are made on the hedged floating rate debt. Amounts reported in AOCI related to our Fund's hedges are reclassified to Income (loss) from unconsolidated Fund, as interest payments are made by our Fund on its hedged floating rate debt. Our derivatives are included in Interest rate contract assets and Interest rate contract liabilities on our consolidated balance sheets at fair value, on a gross basis, excluding accrued interest. The accrued interest is included in Interest Payable, accounts payable and deferred revenue on our consolidated balance sheets. Our share of the fair value of our Fund's derivatives is included in Investment in unconsolidated Fund on our consolidated balance sheets. See Note 10 for our derivative disclosures. Stock-Based Compensation We account for stock-based compensation, which includes grants of LTIP Units to certain employees and non-employee directors, using the fair value method of accounting. The estimated fair value of the awards is based upon the market value of our common stock on the grant date and a discount for post-vesting restrictions. The estimated fair value of LTIP Units granted, net of estimated forfeitures, is amortized over the vesting period, which is based upon service. See Note 13 for our stock-based compensation disclosures. EPS We calculate basic EPS by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of common shares outstanding during the respective period. We calculate diluted EPS by dividing the net income (loss) attributable to common stockholders for the period by the weighted average number of common shares and dilutive instruments outstanding during the respective period using the treasury stock method. Unvested LTIP Units contain non-forfeitable rights to dividends and we account for them as participating securities and include them in the computation of basic and diluted EPS using the two-class method. See Note 12 for our EPS disclosures. Segment Information Segment information is prepared on the same basis that our management reviews information for operational decision-making purposes. We operate two business segments: the acquisition, development, ownership and management of office real estate, and the acquisition, development, ownership and management of multifamily real estate. The services for our office segment include primarily rental of office space and other tenant services, including parking and storage space rental. The services for our multifamily segment include primarily rental of apartments and other tenant services, including parking and storage space rental. See Note 15 for our segment disclosures. Income Taxes We have elected to be taxed as a REIT under the Code, commencing with our initial taxable year ended December 31, 2006. To qualify as a REIT, we are required (among other things) to distribute at least 90% of our REIT taxable income to our stockholders and meet various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. 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. If we fail to qualify as a REIT in any taxable year, and are unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to federal income tax at the regular corporate rate. We have elected to treat one of our subsidiaries as a TRS, which generally may engage in any business, including the provision of customary or non-customary services to our tenants. A TRS is treated as a regular corporation and is subject to federal income tax and applicable state income and franchise taxes at regular corporate rates. Our TRS did not have significant tax provision or deferred income tax items for 2023, 2022 or 2021. Our subsidiaries (other than our TRS), including our Operating Partnership, are partnerships, disregarded entities, QRSs or REITs, as applicable, for federal income tax purposes. Under applicable federal and state income tax rules, the allocated share of net income or loss from disregarded entities or flow-through entities is reportable in the income tax returns of the respective owners. Accordingly, no income tax provision is included in our consolidated financial statements for these entities. New Accounting Pronouncements Changes to US GAAP are implemented by the FASB in the form of ASUs. We consider the applicability and impact of all ASUs. Other than the ASU discussed below, the FASB has not issued any other ASUs that we expect to be applicable and have a material impact on our consolidated financial statements. ASUs Not Yet Adopted Adoption of ASU 2023-0 7 (Topic 280 - "Segment Reporting") In November 2023, the FASB issued ASU No. 2023-07, which provides guidance on improvements to reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The requirements in the ASU should be applied on a retrospective basis. We expect to adopt the ASU for our fiscal year ending December 31, 2024, and we expect to provide additional segment disclosures in our reporting to meet the requirements of the ASU.

Investment in Real Estate

Investment in Real Estate	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Investment in Real Estate	Investment in Real Estate The table below summarizes our investment in real estate: (In thousands) December 31, 2023 December 31, 2022 Land (1) $ 1,185,977 $ 1,185,977 Buildings and improvements (1) 10,142,410 10,055,499 Tenant improvements and lease intangibles 1,020,988 981,460 Property under development (1) 56,439 70,037 Investment in real estate, gross $ 12,405,814 $ 12,292,973 __________________________________________________________________________________ (1) During 2023, Property under development balances transferred to Building and improvements for real estate placed into service were $51.6 million. During 2022, Property under development balances transferred to Land and Building and improvements for real estate placed into service were $13.1 million and $360.4 million, respectively. 2022 Property Acquisition Acquisition of 1221 Ocean Avenue On 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 consolidated JV that we manage and in which we own a 55% interest. We accounted for the acquisition as an asset acquisition and the acquired property's operating results are included in our consolidated operating results from the date of acquisition. The table below summarizes the purchase price allocation for the acquisition. The contract price and the purchase price allocation total in the table below differ due to acquisition costs, prorations and similar adjustments: (In thousands) Purchase Price Allocation Land $ 22,086 Buildings and improvements 319,666 Tenant improvements and lease intangibles 8,879 Acquired below-market leases (18,542) Other liabilities assumed (1,619) Net assets and liabilities acquired $ 330,470 Property to be Removed from Service During the second quarter of 2023, we removed our Barrington Plaza Apartments property in Los Angeles from the rental market. In connection with the remova l of the property from the rental market, we accelerated and recorded additional depreciation expense of $82.1 million during 2023, which is included in Depreciation and amortization on our consolidated statements of operations.

Ground Lease

Ground Lease	12 Months Ended
	Dec. 31, 2023
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 that time. As of December 31, 2023, the ground lease right-of-use asset carrying value was $7.4 million, and the ground lease liability was $10.8 million. Ground rent expense, which is included in Office expenses on our consolidated statements of operations, was $733 thousand during 2023, 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 December 31, 2023: Year ending December 31: (In thousands) 2024 $ 733 2025 733 2026 733 2027 733 2028 733 Thereafter 42,513 Total future minimum lease payments $ 46,178

Acquired Lease Intangibles

Acquired Lease Intangibles	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Acquired Lease Intangibles	Acquired Lease Intangibles Summary of our Acquired Lease Intangibles (In thousands) December 31, 2023 December 31, 2022 Above-market tenant leases $ 4,541 $ 4,968 Above-market tenant leases - accumulated amortization (2,430) (2,309) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (292) (275) Acquired lease intangible assets, net $ 2,971 $ 3,536 Below-market tenant leases $ 48,008 $ 64,851 Below-market tenant leases - accumulated accretion (28,170) (33,487) Acquired lease intangible liabilities, net $ 19,838 $ 31,364 Impact on the Consolidated Statements of Operations The table below summarizes the net amortization/accretion related to our above- and below-market leases: Year Ended December 31, (In thousands) 2023 2022 2021 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 10,978 $ 11,272 $ 9,558 Amortization of an above-market ground lease asset (2) (17) (17) (17) Total $ 10,961 $ 11,255 $ 9,541 _______________________________________________________________________________________ (1) Recorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income. The table below presents the future net accretion related to our above- and below-market leases at December 31, 2023. Year ending December 31: Net increase to revenues (In thousands) 2024 $ 7,914 2025 5,359 2026 2,574 2027 1,323 2028 769 Thereafter (1,072) Total $ 16,867

Investments in Unconsolidated F

Investments in Unconsolidated Fund	12 Months Ended
	Dec. 31, 2023
Real Estate Investments, Net [Abstract]
Investments in Unconsolidated Fund	Investment in Unconsolidated Fund Description of our Fund As of December 31, 2023, we managed and owned an equity interest of 53.8% 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. During 2021, 2022 and 2023, we owned an interest of approximately 33.5% in Partnership X. On December 31, 2023, we purchased an additional 20.2% equity interest in the Fund. 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 on 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 the cash distributions we received from Partnership X: Year Ended December 31, (In thousands) 2023 2022 2021 Operating distributions received $ 1,288 $ 1,224 $ 943 Capital distributions received 80 1,919 1,342 Total distributions received $ 1,368 $ 3,143 $ 2,285 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 the amounts related to the Fund, and are based upon historical book value: (In thousands) December 31, 2023 December 31, 2022 Total assets $ 146,945 $ 147,853 Total liabilities $ 118,822 $ 119,038 Total equity $ 28,123 $ 28,815 Year Ended December 31, (In thousands) 2023 2022 2021 Total revenues $ 19,879 $ 18,561 $ 17,185 Operating income $ 6,224 $ 5,722 $ 4,921 Net income $ 4,190 $ 3,158 $ 2,333

Other Assets

Other Assets	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Other Assets	Other Assets (In thousands) December 31, 2023 December 31, 2022 Restricted cash $ 101 $ 101 Prepaid expenses 20,594 19,871 Indefinite-lived intangibles 1,988 1,988 Deposit with lender (1) 13,440 — Furniture, fixtures and equipment, net 7,014 7,144 Other 6,123 4,837 Total other assets $ 49,260 $ 33,941 _______________________________________________________________________ (1) In connection with the Barrington Plaza loan, Barrington Plaza Apartments have been removed from the rental market. See Note 3, "Property to be removed from service". The lender required a $13.3 million cash deposit, which we placed in an interest-bearing collateral account during the third quarter of 2023. The lender will return the deposit at the earlier of August 2026 or when the loan is paid in full. See Note 8 for our debt disclosures.

Secured Notes Payable, Net

Secured Notes Payable, Net	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Secured Notes Payable, Net	Secured Notes Payable, Net Description Maturity Date (1) Principal Balance as of December 31, 2023 Principal Balance as of December 31, 2022 Variable Interest Rate (2) Fixed Interest Rate (3) Swap Maturity Date (In thousands) Consolidated Wholly-Owned Subsidiaries Term loan (4)(5) 3/3/2025 $ 335,000 $ 335,000 SOFR + 1.41% N/A N/A Fannie Mae loan (4)(5) 4/1/2025 102,400 102,400 SOFR + 1.36% N/A N/A Term loan (4) 8/15/2026 415,000 415,000 SOFR + 1.20% 3.07% 8/1/2025 Term loan (4) 9/19/2026 400,000 400,000 SOFR + 1.25% 2.44% 9/1/2024 Term loan (4) 9/26/2026 200,000 200,000 SOFR + 1.30% 2.36% 10/1/2024 Term loan (4) 11/1/2026 400,000 400,000 SOFR + 1.25% 2.31% 10/1/2024 Fannie Mae loan (4)(6) 6/1/2027 550,000 550,000 SOFR + 1.48% N/A N/A Term loan (4) 5/18/2028 300,000 300,000 SOFR + 1.51% 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 (4) 6/1/2029 255,000 255,000 SOFR + 1.09% 3.26% 6/1/2027 Fannie Mae loan (4) 6/1/2029 125,000 125,000 SOFR + 1.09% 3.25% 6/1/2027 Fannie Mae loan (4)(7) 8/1/2033 350,000 — SOFR + 1.37% N/A N/A Term loan (8) 6/1/2038 27,640 28,502 N/A 4.55% N/A Total Wholly-Owned Subsidiary Debt 3,760,040 3,410,902 Consolidated JVs Term loan (4)(9) 12/19/2024 400,000 400,000 SOFR + 1.40% N/A N/A Term loan (4) 5/15/2027 450,000 450,000 SOFR + 1.45% 2.26% 4/1/2025 Term loan (4) 8/19/2028 625,000 625,000 SOFR + 1.45% 2.12% 6/1/2025 Term loan (4)(10) 4/26/2029 175,000 175,000 SOFR + 1.25% 3.90% 5/1/2026 Fannie Mae loan (4) 6/1/2029 160,000 160,000 SOFR + 1.09% 3.25% 7/1/2027 Total Consolidated Debt (11) 5,570,040 5,220,902 Unamortized loan premium, net (12) 3,087 3,547 Unamortized deferred loan costs, net (13) (29,956) (32,556) Total Consolidated Debt, net $ 5,543,171 $ 5,191,893 _____________________________________________________ Except as noted below, our loans: (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) LIBOR loans converted to SOFR during 2023 include a small SOFR adjustment to calculate the interest payable to the lender, which are included in the spreads. The SOFR conversion did not change the swap-fixed interest rates for our swap-fixed loans. (3) Effective rate as of December 31, 2023. Includes the effect of interest rate swaps (if applicable) 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 premiums. (4) The loan agreement includes a zero-percent SOFR floor. If the loan is swap-fixed then the related swaps do not include such a floor. (5) The swaps expired on March 1, 2023. (6) The loan is secured by four residential properties. A portion of the loan totaling $472.0 million has a lender-required out-of-the-money interest rate cap at a weighted average of 8.99% until July 2026 . Barrington Plaza Apartments have been removed from the rental market. S ee Note 3, "Property to be removed from service." For the portion of the loan relating to Barrington Plaza, t he lender is treating the debt as a construction loan. They required a $13.3 million cash deposit, which we placed in an interest-bearing collateral account during the third quarter of 2023, and we signed a construction completion guarantee in January 2024. The lender will return the deposit at the earlier of August 2026 or when the loan is paid in full. The deposit is included in Other assets in our balance sheet. See Note 7. (7) We closed the loan during the third quarter of 2023. The loan has a lender-required out-of-the-money interest rate cap at an interest rate of 7.84% until August 2026. We used part of the proceeds from the loan to pay off the balance on our revolving credit facility, which expired in August 2023. There was no balance outstanding on the credit facility as of December 31, 2022. (8) The loan requires monthly payments of principal and interest. The principal amortization is based upon a 30-year amortization schedule. (9) The swaps expired on January 1, 2023. (10) During the fourth quarter of 2023, we entered into a guarantee for this loan which guarantees the portion of the loan principal that would need to be paid down in order to meet the minimum debt yield in the loan agreement. See Note 17. (11) The table does not include our unconsolidated Fund's loan - see Note 17. See Note 14 for our fair value disclosures. (12) Balances are net of accumulated amortization of $4.1 million and $3.7 million at December 31, 2023 and December 31, 2022, respectively. (13) Balances are net of accumulated amortization of $56.0 million and $54.1 million at December 31, 2023 and December 31, 2022, respectively. Debt Statistics The table below summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of December 31, 2023 Principal Balance as of December 31, 2022 Aggregate swapped to fixed rate loans $ 3,805,000 $ 4,642,400 Aggregate fixed rate loans 27,640 28,502 Aggregate capped rate loans 822,000 — Aggregate floating rate loans 915,400 550,000 Total Debt $ 5,570,040 $ 5,220,902 The table below summarizes certain consolidated debt statistics as of December 31, 2023: Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $3.83 Weighted average remaining life (including extension options) 4.0 years Weighted average remaining fixed interest period 1.9 years Weighted average annual interest rate 2.65% Future Principal Payments At December 31, 2023, the minimum future principal payments due on our consolidated secured notes payable were as follows: Year ending December 31: Including Maturity Extension Options (1) (In thousands) 2024 $ 400,902 2025 438,343 2026 1,415,987 2027 1,001,033 2028 926,081 Thereafter 1,387,694 Total future principal payments $ 5,570,040 ____________________________________________ (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 on our consolidated statements of operations: Year Ended December 31, (In thousands) 2023 2022 2021 Loan premium amortized and written off $ (460) $ (460) $ (460) Deferred loan costs amortized and written off 8,858 7,943 10,902 Loan costs expensed 210 117 408 Total $ 8,608 $ 7,600 $ 10,850

Interest Payable, Accounts Paya

Interest Payable, Accounts Payable and Deferred Revenue	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Interest Payable, Accounts Payable and Deferred Revenue	Interest Payable, Accounts Payable and Deferred Revenue (In thousands) December 31, 2023 December 31, 2022 Interest payable $ 18,647 $ 13,529 Accounts payable and accrued liabilities 61,767 80,244 Deferred revenue 50,823 47,152 Total interest payable, accounts payable and deferred revenue $ 131,237 $ 140,925

Derivative Contracts

Derivative Contracts	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Contracts	Derivative Contracts Derivative Summary The table below summarizes our derivative contracts as of December 31, 2023: Number of Interest Rate Swaps Notional Derivatives Designated as Cash Flow Hedges: Consolidated derivatives - swaps (1)(2)(3) 24 $ 3,805,000 Consolidated derivatives - caps (2)(3)(4) 5 $ 822,000 Unconsolidated Fund's derivatives - swaps (2)(3)(5) 2 $ 115,000 Derivatives Not Designated as Cash Flow Hedges: Consolidated derivatives - caps (6) — $ — ___________________________________________________ (1) The notional amount includes 100%, not our pro-rata share, of our consolidated JVs' derivatives. See Note 8 for more information about our hedged consolidated debt. (2) Our derivative contracts do not provide for right of offset between derivative contracts. (3) See Note 14 for our derivative fair value disclosures. (4) We purchased five interest rate caps with a notional amount of $822.0 million during the third quarter of 2023. See Note 8 for more information about our hedged consolidated debt. (5) The notional amount reflects 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. See Note 6 for more information about our Fund, including our equity interest percentage. (6) Five interest rate caps with a total aggregate notional amount of $1.10 billion expired on July 1, 2023. Counterparty Credit Risk We are subject to credit risk from the counterparties on our interest rate swap and cap 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 and cap contract assets, including accrued interest and excluding credit risk adjustments, was as follows: (In thousands) December 31, 2023 December 31, 2022 Consolidated derivatives (1) $ 184,700 $ 281,982 Unconsolidated Fund's derivatives (2) $ 9,643 $ 12,863 ___________________________________________________ (1) The amounts include 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) Year Ended December 31, 2023 2022 2021 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gains recorded in AOCI before reclassifications (1) $ 45,364 $ 326,396 $ 82,876 (Gains) losses reclassified from AOCI to Interest Expense (1) $ (144,318) $ (4,287) $ 75,358 Interest expense presented on the consolidated statements of operations $ (209,468) $ (150,185) $ (147,496) Unconsolidated Fund's derivatives (our share) (2) : Gains recorded in AOCI before reclassifications (1) $ 585 $ 3,780 $ 569 (Gains) losses reclassified from AOCI to Income (loss) from unconsolidated Fund (1) $ (1,662) $ (341) $ 120 (Loss) income from unconsolidated Fund presented on the consolidated statements of operations $ (34,643) $ 1,224 $ 946 Derivatives Not Designated as Cash Flow Hedges: Consolidated derivatives: Loss recorded as interest expense (3) $ — $ 38 $ — __________________________________________________ (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. (3) Gains and losses from non-designated interest rate caps offset each other during the periods presented. The respective caps expired on July 1, 2023. Future Reclassifications from AOCI At December 31, 2023, our estimate of the AOCI related to derivatives designated as cash flow hedges that will be reclassified to earnings during the next year is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 120,101 Unconsolidated Fund's derivatives (our share) (1) : Gains to be reclassified from AOCI to Income (loss) from unconsolidated Fund $ 1,505 ______________________________________________ (1) We calculate our share by multiplying the total amount for our Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6.

Equity

Equity	12 Months Ended
	Dec. 31, 2023
Stockholders' Equity Note [Abstract]
Equity	Equity Transactions During 2023: • We repurchased 9.1 million shares of our common stock for $109.1 million in cash, excluding transaction costs, in open market transactions. The average purchase price was $12.03 per share. • We acquired 468 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 209 thousand OP Units for $2.4 million in cash. During 2022: • We acquired 281 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 10 thousand OP Units for $337 thousand in cash. • We acquired a multifamily apartment building through a new consolidated JV that we manage and in which we own a 55% interest. See Note 3 for more information regarding the property we purchased. We contributed $99.0 million to the JV and an outside investor contributed $81.0 million to the JV. During 2021: • We acquired 65 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 $122 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 December 31, 2023, noncontrolling interests in our Operating Partnership owned 33.8 million OP Units and fully-vested LTIP Units, which represented approximately 16.8% of our Operating Partnership's total outstanding interests, and we owned 167.2 million OP Units (to match our 167.2 million shares of outstanding common stock), which represented approximately 83.2% of our Operating Partnership's total outstanding interests. 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 (loss) income attributable to common stockholders and changes in our ownership interest in our Operating Partnership: Year Ended December 31, (In thousands) 2023 2022 2021 Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 7,741 4,600 1,056 Repurchases of OP Units from noncontrolling interests 1,054 (176) (57) Net transfers from noncontrolling interests 8,795 4,424 999 Change from net (loss) income attributable to common stockholders and transfers from noncontrolling interests $ (33,911) $ 101,569 $ 66,266 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: Year Ended December 31, (In thousands) 2023 2022 2021 Accumulated Other Comprehensive Income (Loss) - Beginning balance $ 187,063 $ (38,774) $ (148,035) Consolidated derivatives: Other comprehensive income before reclassifications 45,364 326,396 82,876 Reclassification of (gains) losses from AOCI to Interest Expense (144,318) (4,287) 75,358 Unconsolidated Fund's derivatives (our share) (2) : Other comprehensive income before reclassifications 585 3,780 569 Reclassification of (gains) losses from AOCI to Income (loss) from unconsolidated Fund (1,662) (341) 120 Net current period OCI (100,031) 325,548 158,923 OCI attributable to noncontrolling interests 28,885 (99,711) (49,662) OCI attributable to common stockholders (71,146) 225,837 109,261 Accumulated Other Comprehensive Income (Loss) - Ending balance $ 115,917 $ 187,063 $ (38,774) __________________________________________________ (1) See Note 10 for the details of our derivatives and Note 14 for our derivative fair value disclosures. (2) We calculate our share by multiplying the total amount for our Fund by our equity interest in the Fund. For more information about our Fund, including our equity interest percentage, see Note 6. Dividends (unaudited) Our common stock dividends paid during 2023 are classified for federal income tax purposes as follows: Record Date Paid Date Dividend Per Share Ordinary Income % Capital Gain % Return of Capital % Section 199A Dividend % 12/30/2022 1/18/2023 $ 0.19 20.0 % — % 80.0 % 20.0 % 3/31/2023 4/14/2023 0.19 20.0 % — % 80.0 % 20.0 % 6/30/2023 7/18/2023 0.19 20.0 % — % 80.0 % 20.0 % 9/29/2023 10/17/2023 0.19 20.0 % — % 80.0 % 20.0 % Total / Weighted Average $ 0.76 20.0 % — % 80.0 % 20.0 %

EPS

EPS	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
EPS	EPS The table below presents the calculation of basic and diluted EPS: Year Ended December 31, 2023 2022 2021 Numerator (In thousands): Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267 Allocation to participating securities: Unvested LTIP Units (1,191) (912) (876) Net (loss) income attributable to common stockholders - basic and diluted $ (43,897) $ 96,233 $ 64,391 Denominator (In thousands): Weighted average shares of common stock outstanding - basic and diluted (1) 169,597 175,756 175,478 Net (loss) income per common share - basic and diluted $ (0.26) $ 0.55 $ 0.37 ____________________________________________________ (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 or loss (equal on a per unit basis to the Net income or loss per common share - diluted) was already deducted in calculating Net income (loss) 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: Year Ended December 31, (In thousands) 2023 2022 2021 OP Units 30,931 29,756 28,643 Vested LTIP Units 1,585 1,120 1,439

Stock-Based Compensation

Stock-Based Compensation	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Stock-Based Compensation	Stock-Based Compensation Stock Incentive Plan Plan description The Douglas Emmett, Inc. 2016 Omnibus Stock Incentive Plan, as amended, our stock incentive plan (our "2016 Plan"), permits us to make grants of incentive stock options, non-qualified stock options, stock appreciation rights, deferred stock awards, restricted stock awards, dividend equivalent rights and other stock-based awards. On May 24, 2023, our stockholders approved an amendment to the 2016 Plan to, among other things, increase the number of common shares for future awards by 19.0 million. We had an aggregate of 16.5 million shares available for grant as of December 31, 2023. Awards such as LTIP Units, deferred stock and restricted stock, which deliver the full value of the underlying shares, are counted against the Plan limits as two shares. Awards such as stock options and stock appreciation rights are counted as one share. The number of shares reserved under our 2016 Plan is also subject to adjustment in the event of a stock split, stock dividend or other change in our capitalization. Shares of stock underlying any awards that are forfeited, canceled or otherwise terminated (other than by exercise) are added back to the shares of stock available for future issuance under the 2016 Plan. For options exercised, our policy is to issue common stock on a net settlement basis - net of the exercise price and related taxes. Plan administration Our 2016 Plan is administered by the compensation committee of our board of directors. The compensation committee may interpret our Plan and make all determinations necessary or desirable for the administration of our Plan. The committee has full power and authority to select the participants to whom awards will be granted, to make any combination of awards to participants, to accelerate the exercisability or vesting of any award and to determine the specific terms and conditions of each award, subject to the provisions of our Plan. All officers, employees, directors and other key personnel (including consultants and prospective employees) are eligible to participate in our 2016 Plan. LTIP Units We have made certain awards in the form of a separate series of units of limited partnership interests in our Operating Partnership called LTIP Units, which can be granted either as free-standing awards or in tandem with other awards under our 2016 Plan. Our LTIP Units are valued by reference to the value of our common stock at the time of grant, and are subject to such conditions and restrictions as the compensation committee may determine, including continued employment or service, and/or achievement of pre-established performance goals, financial metrics and other objectives. Once vested, LTIP Units can generally be converted to OP Units on a one for one basis, provided our stock price increases by more than a specified hurdle. Employee Awards We grant stock-based compensation in the form of LTIP Units as a part of our annual incentive compensation to various employees each year, a portion which vests at the date of grant, and the remainder which vests in three equal annual installments over the three calendar years following the grant date. Compensation expense for LTIP Units which are not vested at the grant date is recognized on a straight-line basis over the requisite service period for each separately vesting portion of the award. We have also made long-term grants in the form of LTIP Units to certain employees, which generally vest in equal annual installments over four five Non-Employee Director Awards As annual fees for their services, each of our non-employee directors receives a grant of LTIP Units that vests on a quarterly basis during the year the services are rendered, which is the calendar year following the grant date. In aggregate, we granted 146 thousand, 134 thousand, and 52 thousand LTIP Units to our non-employee directors during 2023, 2022 and 2021, respectively. Compensation Expense See Note 2 regarding our accounting policy for stock based compensation. At December 31, 2023, the total unrecognized stock-based compensation expense for unvested LTIP Unit awards was $19.0 million, which will be recognized over a weighted-average term of 2 years. The table below presents our stock-based compensation expense: Year Ended December 31, (In thousands) 2023 2022 2021 Stock-based compensation expense, net $ 19,834 $ 21,025 $ 20,887 Capitalized stock-based compensation $ 6,016 $ 5,479 $ 6,183 Stock-Based Award Activity The table below presents our unvested LTIP Units activity: Unvested LTIP Units: Number of Units (Thousands) Weighted Average Grant Date Fair Value Grant Date Fair Value (Thousands) Outstanding at December 31, 2020 984 $ 25.71 Granted 1,121 $ 24.64 $ 27,631 Vested (1,073) $ 25.05 $ 26,871 Forfeited (17) $ 28.69 $ 501 Outstanding at December 31, 2021 1,015 $ 25.17 Granted 2,310 $ 11.69 $ 26,987 Vested (1,705) $ 15.72 $ 26,794 Forfeited (20) $ 29.20 $ 587 Outstanding at December 31, 2022 1,600 $ 15.73 Granted 2,384 $ 10.89 $ 25,959 Vested (1,970) $ 12.97 $ 25,555 Forfeited (17) $ 18.70 $ 327 Outstanding at December 31, 2023 1,997 $ 12.64

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023, 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, 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, the carrying value includes unamortized loan premium and excludes unamortized deferred loan fees: (In thousands) December 31, 2023 December 31, 2022 Fair value $ 5,484,032 $ 5,115,548 Carrying value $ 5,573,127 $ 5,224,449 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) December 31, 2023 December 31, 2022 Fair value $ 4,496 $ 4,466 Carrying value $ 10,836 $ 10,848 Financial instruments measured at fair value on a recurring basis Derivative instruments See Note 10 for the details of our derivatives. We present our derivatives on 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 nonperformance risk. Our derivatives are not subject to master netting arrangements. See Note 2 for our accounting policy for derivative instruments regarding the impact of the changes in fair value measurements on our financial statements. The table below presents the estimated fair value of our derivatives: (In thousands) December 31, 2023 December 31, 2022 Derivative Assets: Fair value - c onsolidated derivatives (1) $ 170,880 $ 270,234 Fair value - unconsolidated Fund's derivatives (2) $ 9,150 $ 12,426 Derivative Liabilities: Fair value - c onsolidated derivatives (1) $ — $ 1,790 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 on our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable on our 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 on our consolidated balance sheets. Our unconsolidated Fund did not have any derivatives in a liability position for the periods presented. See Note 6 for more information about our Fund, including our equity interest percentage, and see "Guarantees" in Note 17 regarding our Fund's derivatives. Items measured at fair value on a non-recurring basis Equity method investment As of December 31, 2023 and 2022, we managed and owned an equity interest in one unconsolidated Fund. See Note 6. We account for our investment in our unconsolidated Fund using the equity method. See Note 2. Our investment in our unconsolidated Fund is presented on the consolidated balance sheet at carrying value. On December 31, 2023, we recorded an impairment charge of $36.2 million, which reduced the carrying value of our investment in our unconsolidated Fund to it's fair value of $10.8 million. No impairment charges occurred during 2022 or 2021. The estimated fair value of our investment in the unconsolidated Fund, used to calculate the impairment charge, was calculated using level 3 inputs for the Fund's investment in real estate. The fair value of the Fund's investment in real estate was based upon the negotiated purchase price for our purchase of an additional 20.2% equity interest in the Fund on December 31, 2023. As of December 31, 2023, the carrying value presented on our consolidated balance sheet of $16.0 million includes the acquisition of our additional interest.

Segment Reporting

Segment Reporting	12 Months Ended
	Dec. 31, 2023
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) Year Ended December 31, 2023 2022 2021 Office Segment Total office revenues $ 829,945 $ 824,573 $ 786,870 Office expenses (294,310) (284,522) (265,376) Office segment profit 535,635 540,051 521,494 Multifamily Segment Total multifamily revenues 190,543 169,079 131,527 Multifamily expenses (67,323) (49,299) (38,025) Multifamily segment profit 123,220 119,780 93,502 Total profit from all segments $ 658,855 $ 659,831 $ 614,996 The table below presents a reconciliation of the total profit from all segments to net (loss) income attributable to common stockholders: (In thousands) Year Ended December 31, 2023 2022 2021 Total profit from all segments $ 658,855 $ 659,831 $ 614,996 General and administrative expenses (49,236) (45,405) (42,554) Depreciation and amortization (459,949) (372,798) (371,289) Other income 19,633 4,587 2,465 Other expenses (1,032) (714) (937) (Loss) Income from unconsolidated Fund (34,643) 1,224 946 Interest expense (209,468) (150,185) (147,496) Net (loss) income (75,840) 96,540 56,131 Net loss attributable to noncontrolling interests 33,134 605 9,136 Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267

Future Minimum Lease Rental Rec

Future Minimum Lease Rental Receipts	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023: Year ending December 31: (In thousands) 2024 $ 603,197 2025 496,486 2026 396,251 2027 309,999 2028 225,451 Thereafter 700,681 Total future minimum base rentals (1) $ 2,732,065 _____________________________________________________ (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	12 Months Ended
	Dec. 31, 2023
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. We are currently in litigation with the insurance providers in 2020 for Barrington Plaza to recover certain costs associated with reconstruction. 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. During 2023, 2022 and 2021, no tenant accounted for more than 10% of our total revenues. See our "Rental Revenues and Tenant Recoveries" accounting 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 our consolidated JVs and our unconsolidated Fund's properties, 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. Derivative Counterparty Credit Risk We are subject to credit risk with respect to our derivative counterparties. We do not post or receive collateral with respect to our derivative transactions. Our derivative contracts do not provide for right of offset between derivative contracts. See Note 10 for the details of our derivative 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-three 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 December 31, 2023, 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 December 31, 2023, 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 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 December 31, 2023, we had an aggregate remaining contractual commitment for this development project and other development projects of approximately $17.9 million. Other Contractual Commitments As of December 31, 2023, we had an aggregate remaining contractual commitment for repositionings, capital expenditure projects and tenant improvements of approximately $12.7 million. Guarantees Loan Guarantees We signed a guarantee for the $175.0 million consolidated JV loan which guarantees the portion of the loan principal that would need to be paid down to meet the minimum debt yield in the loan agreement. The loan matures in April 2029. The guarantee will remain in effect until either the guarantee obligation or the loan is paid in full. As of December 31, 2023, we estimate the risk of loss for this guarantee to be low. See Note 8 for more information regarding our debt. During the second quarter of 2023, we removed our Barrington Plaza Apartments property in Los Angeles from the rental market. See Note 3, "Property to be removed from service." The reconstruction of this property is expected to take a number of years at a cost of several hundred million dollars. The lender is treating the $210.0 million Barrington Plaza loan, which matures in June 2027, as a construction loan, and we signed a construction completion guarantee in January 2024. The guarantee will remain in effect until either the construction is completed or the loan is paid in full. See Note 8 for more information regarding our debt. Unconsolidated Fund Guarantees Our unconsolidated Fund, Partnership X, has a $115.0 million floating-rate term loan that matures on September 14, 2028. The loan carries interest at SOFR + 1.46% (with a zero-percent SOFR floor), which has been effectively fixed at 2.19% until October 1, 2026 with interest rate swaps (which do not have zero-percent SOFR floors). The loan and related swaps were converted to SOFR from LIBOR during the third quarter of 2023, resulting in a small SOFR adjustment to calculate the interest payable to the lender (which is included in the loan spread above). The conversion to SOFR did not change the swap-fixed interest rate. 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 December 31, 2023, assuming that SOFR does not decrease below zero-percent, the maximum future interest payments for the swaps were $2.7 million. As of December 31, 2023, all of the obligations under the related loan and swap agreements have been performed in accordance with the terms of those agreements. As of December 31, 2023, we estimate the risk of loss for the various indemnities and guarantees to be low. See Note 6 for more information regarding Partnership X.

Schedule III - Consolidated Rea

Schedule III - Consolidated Real Estate and Accumulated Depreciation and Amortization	12 Months Ended
	Dec. 31, 2023
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Consolidated Real Estate and Accumulated Depreciation and Amortization	Initial Cost Cost Capitalized Subsequent to Acquisition Gross Carrying Amount Property Name Encumb-rances Land Building & Improve-ments (1) Improve-ments (1)(2) Land Building & Improve-ments (1)(2) Total (3) Accumulated Depreciation & Amortization (2) (4) Year Built / Renovated Year Acquired Office Properties 100 Wilshire $ 252,034 $ 12,769 $ 78,447 $ 158,133 $ 27,108 $ 222,241 $ 249,349 $ 95,152 1968/2002/2019 1999 233 Wilshire 62,962 9,263 130,426 4,116 9,263 134,542 143,805 27,389 1975/2008-2009 2016 401 Wilshire — 9,989 29,187 130,718 21,787 148,107 169,894 62,030 1981/2000/2020 1996 429 Santa Monica 33,691 4,949 72,534 4,163 4,949 76,697 81,646 15,471 1982/2016 2017 1132 Bishop Place — 8,317 105,651 (53,704) 8,833 51,431 60,264 28,334 1992 2004 1299 Ocean 124,699 22,748 265,198 26,151 22,748 291,349 314,097 54,361 1980/2006/2020 2017 1901 Avenue of the Stars 193,502 18,514 131,752 120,234 26,163 244,337 270,500 110,421 1968/2001 2001 2001 Wilshire 37,411 5,711 81,622 5,183 5,711 86,805 92,516 11,234 1980/2013 2008 8383 Wilshire 175,314 18,004 328,118 6,982 18,005 335,099 353,104 45,936 1971/2009 2008 8484 Wilshire — 8,846 77,780 16,073 8,846 93,853 102,699 30,588 1972/2013 2013 9100 Wilshire 142,264 13,455 258,329 10,593 13,455 268,922 282,377 36,440 1971/2016 2008 9401 Wilshire 27,640 6,740 152,310 19,745 6,740 172,055 178,795 31,419 1971/2020 2017 9601 Wilshire — 16,597 54,774 107,640 17,658 161,353 179,011 74,988 1962/2004 2001 9665 Wilshire 77,445 5,568 177,072 23,600 5,568 200,672 206,240 38,262 1971/2020 2017 10880 Wilshire 207,712 29,995 437,514 43,944 29,988 481,465 511,453 105,658 1970/2009/2020 2016 10960 Wilshire 209,575 45,844 429,769 33,896 45,852 463,657 509,509 111,688 1971/2006 2016 11777 San Vicente 44,412 5,032 15,768 29,929 6,714 44,015 50,729 20,477 1974/1998 1999 12100 Wilshire 101,203 20,164 208,755 9,848 20,164 218,603 238,767 47,662 1985 2016 12400 Wilshire — 5,013 34,283 75,936 8,828 106,404 115,232 47,534 1985 1996 15250 Ventura 22,369 2,130 48,908 3,577 2,130 52,485 54,615 7,185 1970/2012 2008 16000 Ventura 37,971 1,936 89,531 3,760 1,936 93,291 95,227 13,017 1980/2011 2008 16501 Ventura 42,944 6,759 53,112 13,658 6,759 66,770 73,529 21,475 1986/2012 2013 Beverly Hills Medical Center 46,180 4,955 27,766 30,727 6,435 57,013 63,448 26,513 1964/2004 2004 Bishop Square 200,000 16,273 213,793 59,004 16,273 272,797 289,070 96,436 1972/1983 2010 Brentwood Court — 2,564 8,872 1,329 2,563 10,202 12,765 4,590 1984 2006 Brentwood Executive Plaza — 3,255 9,654 35,263 5,921 42,251 48,172 19,056 1983/1996 1995 Brentwood Medical Plaza — 5,934 27,836 2,144 5,933 29,981 35,914 14,058 1975 2006 Brentwood San Vicente Medical — 5,557 16,457 3,062 5,557 19,519 25,076 8,545 1957/1985 2006 Brentwood/Saltair — 4,468 11,615 10,993 4,775 22,301 27,076 9,881 1986 2000 Bundy/Olympic — 4,201 11,860 29,410 6,030 39,441 45,471 17,904 1991/1998 1994 Camden Medical Arts 42,276 3,102 12,221 29,313 5,298 39,338 44,636 18,025 1972/1992 1995 Carthay Campus — 6,595 70,454 4,691 6,594 75,146 81,740 22,069 1965/2008 2014 Century Park Plaza 173,000 10,275 70,761 140,797 16,153 205,680 221,833 86,783 1972/1987/2020 1999 Century Park West — 3,717 29,099 463 3,667 29,612 33,279 14,210 1971 2007 Columbus Center — 2,096 10,396 11,215 2,333 21,374 23,707 9,303 1987 2001 Coral Plaza — 4,028 15,019 18,947 5,366 32,628 37,994 15,212 1981 1998 Cornerstone Plaza — 8,245 80,633 6,550 8,263 87,165 95,428 36,889 1986 2007 Encino Gateway — 8,475 48,525 54,335 15,653 95,682 111,335 44,481 1974/1998 2000 Encino Plaza — 5,293 23,125 50,097 6,165 72,350 78,515 33,521 1971/1992 2000 Encino Terrace 105,565 12,535 59,554 101,103 15,533 157,659 173,192 71,772 1986 1999 Executive Tower — 6,660 32,045 57,802 9,471 87,036 96,507 39,919 1989 1995 Initial Cost Cost Capitalized Subsequent to Acquisition Gross Carrying Amount Property Name Encumb-rances Land Building & Improve-ments (1) Improve-ments (1)(2) Land Building & Improve-ments (1)(2) Total (3) Accumulated Depreciation & Amortization (2) (4) Year Built / Renovated Year Acquired Office Properties (continued) First Financial Plaza 54,077 12,092 81,104 6,425 12,092 87,529 99,621 23,667 1986 2015 Gateway Los Angeles — 2,376 15,302 63,580 5,119 76,139 81,258 29,020 1987/2022 1994 Harbor Court — 51 41,001 54,054 12,060 83,046 95,106 34,709 1994 2004 Landmark II — 6,086 109,259 69,288 13,070 171,563 184,633 79,816 1989 1997 Lincoln/Wilshire — 3,833 12,484 26,816 7,475 35,658 43,133 15,044 1996 2000 MB Plaza — 4,533 22,024 34,089 7,503 53,143 60,646 24,970 1971/1996 1998 Olympic Center 52,000 5,473 22,850 34,945 8,247 55,021 63,268 25,850 1985/1996 1997 One Westwood — 10,350 29,784 66,421 9,194 97,361 106,555 43,673 1987/2004 1999 Palisades Promenade 60,318 5,253 15,547 53,185 9,664 64,321 73,985 30,252 1990 1995 Saltair/San Vicente 21,533 5,075 6,946 18,056 7,557 22,520 30,077 10,470 1964/1992 1997 San Vicente Plaza — 7,055 12,035 581 7,055 12,616 19,671 5,926 1985 2006 Santa Monica Square 48,500 5,366 18,025 21,856 6,863 38,384 45,247 17,536 1983/2004 2001 Second Street Plaza — 4,377 15,277 35,705 7,421 47,938 55,359 22,646 1991 1997 Sherman Oaks Galleria 300,000 33,213 17,820 429,060 48,328 431,765 480,093 193,263 1981/2002 1997 Studio Plaza — 9,347 73,358 122,286 15,015 189,976 204,991 91,959 1988/2004 1995 The Tower 67,064 9,643 160,602 7,104 9,643 167,706 177,349 37,443 1988/1998 2016 The Trillium (5) — 20,688 143,263 85,673 21,989 227,635 249,624 101,297 1988/2021 2005 Valley Executive Tower 104,000 8,446 67,672 110,841 11,737 175,222 186,959 77,859 1984 1998 Valley Office Plaza — 5,731 24,329 49,352 8,957 70,455 79,412 33,085 1966/2002 1998 Verona — 2,574 7,111 15,934 5,111 20,508 25,619 9,327 1991 1997 Village on Canon 61,745 5,933 11,389 50,822 13,303 54,841 68,144 24,206 1989/1995 1994 Warner Center Towers 335,000 43,110 292,147 415,784 59,418 691,623 751,041 316,269 1982-1993/2004 2002 Warner Corporate Center 34,671 11,035 65,799 2,245 11,035 68,044 79,079 10,136 1988/2015 2008 Westside Towers 141,915 8,506 79,532 80,815 14,568 154,285 168,853 69,506 1985 1998 Westwood Center 140,648 9,512 259,341 20,053 9,513 279,393 288,906 63,870 1965/2000 2016 Westwood Place 71,000 8,542 44,419 69,450 11,448 110,963 122,411 42,369 1987/2023 1999 Multifamily Properties 555 Barrington 50,000 6,461 27,639 42,765 14,903 61,962 76,865 28,520 1989 1999 1221 Ocean Avenue 175,000 22,086 328,545 2,281 22,086 330,826 352,912 19,864 1971/2000 2022 Barrington Plaza (6) 210,000 28,568 81,485 146,318 58,208 198,163 256,371 172,603 1963/1998 1998 Barrington/Kiowa 13,940 5,720 10,052 1,374 5,720 11,426 17,146 5,242 1974 2006 Barry 11,370 6,426 8,179 912 6,426 9,091 15,517 4,291 1973 2006 Kiowa 5,470 2,605 3,263 1,029 2,605 4,292 6,897 1,882 1972 2006 Moanalua Hillside Apartments 255,000 24,791 157,353 127,801 35,365 274,580 309,945 77,010 1968/2004/2019 2005 The Residences at Bishop Place 110,000 — — 180,347 — 180,347 180,347 13,670 2020-2022 2004 Pacific Plaza 78,000 10,091 16,159 77,762 27,816 76,196 104,012 33,242 1963/1998 1999 The Glendon 160,000 32,773 335,925 287 32,775 336,210 368,985 40,214 2008 2019 The Landmark Los Angeles 240,000 — — 331,693 13,070 318,623 331,693 11,881 2018-2022 N/A The Shores 212,000 20,809 74,191 207,358 60,555 241,803 302,358 105,926 1965-67/2002 1999 Villas at Royal Kunia 94,220 42,887 71,376 18,258 35,163 97,358 132,521 48,499 1990/1995 2006 Waena Apartments 102,400 26,864 119,273 2,540 26,864 121,813 148,677 29,695 1970/2009-2014 2014 Initial Cost Cost Capitalized Subsequent to Acquisition Gross Carrying Amount Property Name Encumb-rances Land Building & Improve-ments (1) Improve-ments (1)(2) Land Building & Improve-ments (1)(2) Total (3) Accumulated Depreciation & Amortization (2) (4) Year Built / Renovated Year Acquired Ground Lease Owensmouth/Warner (5) — 23,848 — 1,725 23,848 1,725 25,573 35 N/A 2006 Total Operating Properties $ 5,570,040 $ 898,700 $ 6,922,385 $ 4,528,290 $ 1,185,977 $ 11,163,398 $ 12,349,375 $ 3,652,630 Property Under Development The Residences at Bishop Place $ — $ — $ — $ 3,037 $ — $ 3,037 $ 3,037 N/A N/A Other Developments 53,402 53,402 53,402 N/A N/A Total Property Under Development $ — $ — $ — $ 56,439 $ — $ 56,439 $ 56,439 $ — Total $ 5,570,040 $ 898,700 $ 6,922,385 $ 4,584,729 $ 1,185,977 $ 11,219,837 $ 12,405,814 $ 3,652,630 _____________________________________________________ (1) Includes tenant improvements and lease intangibles. (2) Net of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles removed from our books. (3) At December 31, 2023, the aggregate federal income tax cost basis for consolidated real estate was $8.79 billion (unaudited). (4) See our depreciation and amortization policy in Note 2 to our consolidated financial statements. (5) The property includes a parcel of land from which we receive rent under a ground lease. (6) During the second quarter of 2023, we removed our Barrington Plaza Apartments property in Los Angeles from the rental market. See Note 3, "Property to be removed from service", for more detail. The table below presents a reconciliation of our investment in real estate: (In thousands) Year Ended December 31, 2023 2022 2021 Investment in real estate, gross Beginning balance $ 12,292,973 $ 11,819,077 $ 11,678,638 Property acquisitions — 350,631 — Improvements and developments 214,955 223,315 297,764 Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles (102,114) (100,050) (157,325) Ending balance $ 12,405,814 $ 12,292,973 $ 11,819,077 Accumulated depreciation and amortization Beginning balance $ (3,299,365) $ (3,028,645) $ (2,816,193) Depreciation and amortization (459,949) (372,798) (371,289) Other accumulated depreciation and amortization 4,570 2,028 1,512 Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles 102,114 100,050 157,325 Ending balance $ (3,652,630) $ (3,299,365) $ (3,028,645) Investment in real estate, net $ 8,753,184 $ 8,993,608 $ 8,790,432

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Pay vs Performance Disclosure
Net (loss) income attributable to common stockholders	$ (42,706)	$ 97,145	$ 65,267

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Dec. 31, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of Significant Accoun_2

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2023
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 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. The accompanying consolidated financial statements include, in our opinion, all adjustments, consisting of normal recurring adjustments, necessary to present fairly the financial information set forth therein. Any references to the number or class of properties, square footage, per square footage amounts, apartment units and geography, are unaudited and outside the scope of our independent registered public accounting firm’s audit 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.
Acquisitions and Initial Consolidation of VIEs	Acquisitions and Initial Consolidation of VIEs Acquisitions of properties generally do not meet the definition of a business and are accounted for as asset acquisitions, as substantially all of the fair value of the gross assets acquired is concentrated in a single identifiable asset or a group of similar identifiable assets. We include the acquired properties' results of operations in our results of operations from the respective acquisition date. We allocate the purchase price for asset acquisitions, which includes the capitalized transaction costs, and for the properties upon the initial consolidation of VIEs not determined to be a business, on a relative fair value basis to: (i) land, (ii) buildings and improvements, (iii) tenant improvements and identifiable intangible assets such as in-place at-market leases, (iv) acquired above- and below-market ground and tenant leases (including for renewal options), and if applicable (v) assumed debt and (vi) assumed interest rate swaps. The fair values are based upon comparable sales for land, and the income approach using our estimates of expected future cash flows and other valuation techniques, which include but are not limited to, our estimates of rental rates, revenue growth rates, capitalization rates and discount rates, for other assets and liabilities. We estimate the relative fair values of the tangible assets on an "as-if-vacant" basis. The estimated relative fair value of acquired in-place at-market leases are the estimated costs to lease the property to the occupancy level at the date of acquisition, including the fair value of leasing commissions and legal costs. We evaluate the time period over which we expect such occupancy level to be achieved and include an estimate of the net operating costs (primarily real estate taxes, insurance and utilities) incurred during the lease-up period. Above- and below-market ground and tenant leases are recorded as an asset or liability based on the present value (using a discount rate which reflects the risks associated with the leases acquired) of the difference between the contractual amounts to be paid or received pursuant to the in-place ground or tenant leases, respectively, and our estimate of the fair market rental rates for the corresponding in-place leases, over the remaining non-cancelable term of the lease. Assumed debt is recorded at fair value based upon the present value of the expected future payments and current interest rates. See Note 3 for our property acquisition disclosures.
Depreciation and Amortization	Depreciation and Amortization The assets and liabilities listed below are carried on our consolidated balance sheets net of the related accumulated depreciation or amortization/accretion, and any impairment charges. We accelerate depreciation for affected assets when we renovate our buildings or our buildings are impacted by new developments. When assets are sold or retired, their cost and related accumulated depreciation or amortization are removed from our consolidated balance sheets with the resulting gains or losses, if any, reflected in our results of operations for the respective period. • Buildings and improvements are depreciated on a straight-line basis using an estimated life of twenty-five • Tenant improvements are depreciated on a straight-line basis over the life of the related lease, with any remaining balance depreciated in the period of any early lease termination. • Acquired in-place leases are amortized on a straight-line basis over the weighted average remaining term of the acquired in-place leases. • Acquired lease intangibles are amortized on a straight-line basis over the related lease term, with any remaining balance amortized in the period of any early lease termination. • Acquired above- and below-market tenant leases are amortized/accreted on a straight line basis over the life of the related lease and recorded as either an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. • Acquired above- and below-market ground leases, from which we earn ground rent income, are amortized/accreted on a straight line basis over the life of the related lease and recorded either as an increase (for below-market leases) or a decrease (for above-market leases) to rental revenue. • Acquired above- and below-market ground leases, for which we incur ground rent expense, are accreted/ amortized over the life of the related lease and recorded either as an increase (for below-market leases) or a decrease (for above-market leases) to expense.
Real Estate Held for Sale	Real Estate Held for Sale
Dispositions	Dispositions
Cost Capitalization	Cost Capitalization
Ground Lease	Ground Lease
Investment in Unconsolidated Fund	Investment in Unconsolidated Fund As of December 31, 2023 and 2022, we managed and owned an equity interest in one unconsolidated Fund. See Note 6. We account for our investment in our unconsolidated Fund using the equity method because we have significant influence but not control over the Fund. Under the equity method, we initially recorded our investment in our Fund at cost, which includes acquisition basis difference and additional basis for capital raising costs, and subsequently adjust the investment balance for: (i) our share of the Fund's net income or losses, (ii) our share of the Fund's other comprehensive income or losses, (iii) our cash contributions to the Fund and (iv) our distributions received from the Fund. If we sell our interest in the Fund, or if the Fund qualifies for consolidation, we would remove our investment in our unconsolidated Fund from our consolidated balance sheets.
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets
Cash and Cash Equivalents	Cash and Cash Equivalents We consider short-term investments with maturities of three months or less when purchased to be cash equivalents.
Revenue Recognition	Revenue Recognition Rental Revenues and Tenant Recoveries We account for our rental revenues, and variable lease payments such as tenant recoveries and parking revenues, in accordance with Topic 842. We adopted a practical expedient which allows us to account for our rental revenues, tenant recoveries and parking revenues on a combined basis. Rental revenues and tenant recoveries from tenant leases are included in Rental revenues and tenant recoveries on our consolidated statements of operations. Parking revenues are included in office Parking and other income on our consolidated statements of operations. See "Office parking revenues" disclosure further below. All of our tenant leases are classified as operating leases. For lease terms exceeding one year, rental income is recognized on a straight-line basis over the lease term. Rental revenue from month-to-month leases or leases with no scheduled rent increases or other adjustments is recognized on a monthly basis when earned. Estimated tenant recoveries for real estate taxes, common area maintenance and other recoverable operating expenses, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, are recognized as revenue on a gross basis in the period that the recoverable expenses are incurred. Subsequent to year-end, in accordance with our policy, we perform reconciliations on a lease-by-lease basis and bill or credit each tenant for any differences between the estimated expenses we billed to the tenant and the actual expenses incurred. Tenant recoveries were $61.6 million, $58.2 million and $56.5 million in 2023, 2022 and 2021, respectively. Tenant receivables consist primarily of amounts due for contractual lease payments and reimbursements of common area maintenance expenses, property taxes, and other costs recoverable from tenants. Deferred rent receivables represent the amount by which the cumulative straight-line rental revenue recorded to date exceeds the cumulative cash rents billed to date under the lease agreement. Lease Terminations Lease termination fees, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, are recognized on a straight line basis over the new remaining lease term when the related lease is canceled. We recognized lease termination revenue of $5.2 million, $1.3 million and $1.2 million during 2023, 2022 and 2021, respectively. Tenant Improvements Tenant improvements constructed, and owned by us, and reimbursed by tenants are recorded as our assets, and the related revenue, which are included in Rental revenues and tenant recoveries on our consolidated statements of operations, is recognized over the related lease term. We recognized revenue for reimbursement of tenant improvements of $5.8 million, $4.8 million and $5.8 million during 2023, 2022 and 2021, respectively. 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. 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 in the period they are collected. 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. Charges for uncollectible tenant receivables and deferred rent receivables reduced our office revenues by $0.8 million, $0.6 million, and $3.0 million in 2023, 2022, and 2021 respectively. We restored accrual basis accounting for certain office tenants that were previously determined to be uncollectible and accounted for on a cash basis of accounting, which increased our office revenues by $4.4 million and $3.6 million in 2023 and 2022, respectively. Parking and Other Income Office Parking Revenues 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 $92.2 million, $84.9 million and $69.0 million in 2023, 2022 and 2021, respectively, and are included in office Parking and other income on our consolidated statements of operations. Office parking receivables were $0.8 million and $0.9 million as of December 31, 2023 and 2022, respectively, and are included in Tenant receivables on our consolidated balance sheets. Ground Lease Revenues We own two parcels of land from which we receive rent under ground leases. We account for our ground lease revenues as operating leases in accordance with Topic 842. Ground lease revenues were $7.9 million, $2.1 million and $0.3 million in 2023, 2022 and 2021, respectively, and are included in office Parking and other income
Insurance Recoveries	Insurance Recoveries The amount by which insurance recoveries related to property damage exceed any losses recognized from that damage are recorded as Other income on our consolidated statements of operations when payment has been received or confirmation of the amount of proceeds has been received. In January 2020, there was a fire in one of our residential property buildings. We carry comprehensive liability and property insurance covering all of the properties in our portfolio under blanket insurance policies to cover these kinds of losses. We recorded $1.3 million, $3.9 million, and $4.8 million of business interruption revenues during 2023, 2022 and 2021, respectively, which is included in Multifamily rental - Parking and other income
Interest Income	Interest Income Interest income from our short-term money market fund investments is recognized on an accrual basis. Interest income is included in Other income on our consolidated statements of operations.
Leasing Costs	Leasing Costs
Loan Costs	Loan Costs Loan costs incurred directly with the issuance of secured notes payable are deferred and amortized to interest expense over the respective loan or credit facility term. Any unamortized amounts are written off upon early repayment of the secured notes payable, and the related cost and accumulated amortization are removed from our consolidated balance sheets. To the extent that a refinancing is considered an exchange of debt with the same lender, we account for loan costs based upon whether the old debt is determined to be modified or extinguished for accounting purposes. If the old debt is determined to be modified then we (i) continue to defer and amortize any unamortized deferred loan costs associated with the old debt at the time of the modification over the new term of the modified debt, (ii) defer and amortize the lender costs incurred in connection with the modification over the new term of the modified debt, and (iii) expense all other costs associated with the modification. If the old debt is determined to be extinguished then we (i) write off any unamortized deferred loan costs associated with the extinguished debt at the time of the extinguishment and remove the related cost and accumulated amortization from our consolidated balance sheets, (ii) expense all lender costs associated with the extinguishment, and (iii) defer and amortize all other costs incurred directly in connection with the extinguishment over the term of the new debt.
Debt Discounts and Premiums	Debt Discounts and Premiums Debt discounts and premiums related to recording debt assumed in connection with property acquisitions at fair value are generally amortized and accreted, respectively, over the remaining term of the related loan, which approximates the effective interest method. The amortization/accretion is included in interest expense in our consolidated statements of operations.
Derivative Contracts	Derivative Contracts We make use of interest rate swap and cap contracts to manage the risk associated with changes in interest rates on our floating-rate debt and to satisfy certain lender requirements. 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 also enter into interest rate cap agreements from time to time to cap the interest rates on our floating rate loans. We may enter into derivative contracts that are intended to hedge certain economics risks, even though hedge accounting does not apply or we elect to not apply hedge accounting. We do not speculate in derivatives and we do not make use of any other derivative instruments. When entering into derivative agreements, we generally elect to designate them as cash flow hedges for accounting purposes. Changes in fair value of hedging instruments designated as cash flow hedges are recorded in accumulated other comprehensive income (loss) (AOCI), which is a component of equity outside of earnings. For our Fund's hedging instruments designated as cash flow hedges, we record our share of the changes in fair value of the hedging instrument in AOCI. Amounts recorded in AOCI related to our designated hedges are reclassified to Interest expense as interest payments are made on the hedged floating rate debt. Amounts reported in AOCI related to our Fund's hedges are reclassified to Income (loss) from unconsolidated Fund, as interest payments are made by our Fund on its hedged floating rate debt.
Stock-Based Compensation	Stock-Based Compensation
EPS	EPS
Segment Information	Segment Information
Income Taxes	Income Taxes We have elected to be taxed as a REIT under the Code, commencing with our initial taxable year ended December 31, 2006. To qualify as a REIT, we are required (among other things) to distribute at least 90% of our REIT taxable income to our stockholders and meet various other requirements imposed by the Code relating to matters such as operating results, asset holdings, distribution levels and diversity of stock ownership. 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. If we fail to qualify as a REIT in any taxable year, and are unable to avail ourselves of certain savings provisions set forth in the Code, all of our taxable income would be subject to federal income tax at the regular corporate rate. We have elected to treat one of our subsidiaries as a TRS, which generally may engage in any business, including the provision of customary or non-customary services to our tenants. A TRS is treated as a regular corporation and is subject to federal income tax and applicable state income and franchise taxes at regular corporate rates. Our TRS did not have significant tax provision or deferred income tax items for 2023, 2022 or 2021. Our subsidiaries (other than our TRS), including our Operating Partnership, are partnerships, disregarded entities, QRSs or REITs, as applicable, for federal income tax purposes. Under applicable federal and state income tax rules, the allocated share of net income or loss from disregarded entities or flow-through entities is reportable in the income tax returns of the respective owners. Accordingly, no income tax provision is included in our consolidated financial statements for these entities.
New Accounting Pronouncements and ASUs Not Yet Adopted	New Accounting Pronouncements Changes to US GAAP are implemented by the FASB in the form of ASUs. We consider the applicability and impact of all ASUs. Other than the ASU discussed below, the FASB has not issued any other ASUs that we expect to be applicable and have a material impact on our consolidated financial statements. ASUs Not Yet Adopted Adoption of ASU 2023-0 7 (Topic 280 - "Segment Reporting") In November 2023, the FASB issued ASU No. 2023-07, which provides guidance on improvements to reportable segment disclosures, primarily through enhanced disclosures about significant segment expenses. The ASU is effective for fiscal years beginning after December 15, 2023 and interim periods within fiscal years beginning after December 15, 2024. The requirements in the ASU should be applied on a retrospective basis. We expect to adopt the ASU for our fiscal year ending December 31, 2024, and we expect to provide additional segment disclosures in our reporting to meet the requirements of the ASU.
Fair Value of Financial Instruments	Fair Value of Financial Instruments Our estimates of the fair value of financial instruments were determined using available market information and widely used valuation methods. Considerable judgment is necessary to interpret market data and determine an estimated fair value. The use of different market assumptions or valuation methods may have a material effect on the estimated fair values. The FASB fair value framework hierarchy distinguishes between assumptions based on market data obtained from sources independent of the reporting entity, and the reporting entity’s own assumptions about market-based inputs. The hierarchy is as follows: Level 1 - inputs utilize unadjusted quoted prices in active markets for identical assets or liabilities. Level 2 - inputs are observable either directly or indirectly for similar assets and liabilities in active markets. Level 3 - inputs are unobservable assumptions generated by the reporting entity.

Overview (Tables)

Overview (Tables)	12 Months Ended
	Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of December 31, 2023, our portfolio consisted of the following (including ancillary retail space and excluding two parcels of land from which we receive rent under ground leases): Consolidated Portfolio Total Portfolio Office Wholly-owned properties 52 52 Consolidated JV properties 16 16 Unconsolidated Fund properties — 2 68 70 Multifamily Wholly-owned properties 12 12 Consolidated JV properties 2 2 14 14 Total 82 84

Investment in Real Estate (Tabl

Investment in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate [Abstract]
Schedule of Investment In Real Estate	The table below summarizes our investment in real estate: (In thousands) December 31, 2023 December 31, 2022 Land (1) $ 1,185,977 $ 1,185,977 Buildings and improvements (1) 10,142,410 10,055,499 Tenant improvements and lease intangibles 1,020,988 981,460 Property under development (1) 56,439 70,037 Investment in real estate, gross $ 12,405,814 $ 12,292,973 __________________________________________________________________________________ (1) During 2023, Property under development balances transferred to Building and improvements for real estate placed into service were $51.6 million. During 2022, Property under development balances transferred to Land and Building and improvements for real estate placed into service were $13.1 million and $360.4 million, respectively.
Schedule of Purchase Price Allocation for Acquisition	The contract price and the purchase price allocation total in the table below differ due to acquisition costs, prorations and similar adjustments: (In thousands) Purchase Price Allocation Land $ 22,086 Buildings and improvements 319,666 Tenant improvements and lease intangibles 8,879 Acquired below-market leases (18,542) Other liabilities assumed (1,619) Net assets and liabilities acquired $ 330,470

Ground Lease (Tables)

Ground Lease (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023: Year ending December 31: (In thousands) 2024 $ 733 2025 733 2026 733 2027 733 2028 733 Thereafter 42,513 Total future minimum lease payments $ 46,178

Acquired Lease Intangibles (Tab

Acquired Lease Intangibles (Tables)	12 Months Ended
	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Acquired Lease Intangibles	Summary of our Acquired Lease Intangibles (In thousands) December 31, 2023 December 31, 2022 Above-market tenant leases $ 4,541 $ 4,968 Above-market tenant leases - accumulated amortization (2,430) (2,309) Above-market ground lease where we are the lessor 1,152 1,152 Above-market ground lease - accumulated amortization (292) (275) Acquired lease intangible assets, net $ 2,971 $ 3,536 Below-market tenant leases $ 48,008 $ 64,851 Below-market tenant leases - accumulated accretion (28,170) (33,487) Acquired lease intangible liabilities, net $ 19,838 $ 31,364
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: Year Ended December 31, (In thousands) 2023 2022 2021 Net accretion of above- and below-market tenant lease assets and liabilities (1) $ 10,978 $ 11,272 $ 9,558 Amortization of an above-market ground lease asset (2) (17) (17) (17) Total $ 10,961 $ 11,255 $ 9,541 _______________________________________________________________________________________ (1) Recorded as a net increase to office and multifamily rental revenues. (2) Recorded as a decrease to office parking and other income.
Schedule of Estimated Future Net Accretion	The table below presents the future net accretion related to our above- and below-market leases at December 31, 2023. Year ending December 31: Net increase to revenues (In thousands) 2024 $ 7,914 2025 5,359 2026 2,574 2027 1,323 2028 769 Thereafter (1,072) Total $ 16,867

Investments in Unconsolidated_2

Investments in Unconsolidated Fund (Tables)	12 Months Ended
	Dec. 31, 2023
Real Estate Investments, Net [Abstract]
Summary of Statement of Operations for Investments in Unconsolidated Real Estate Funds and Cash Received from Funds	The table below presents the cash distributions we received from Partnership X: Year Ended December 31, (In thousands) 2023 2022 2021 Operating distributions received $ 1,288 $ 1,224 $ 943 Capital distributions received 80 1,919 1,342 Total distributions received $ 1,368 $ 3,143 $ 2,285 (In thousands) December 31, 2023 December 31, 2022 Total assets $ 146,945 $ 147,853 Total liabilities $ 118,822 $ 119,038 Total equity $ 28,123 $ 28,815 Year Ended December 31, (In thousands) 2023 2022 2021 Total revenues $ 19,879 $ 18,561 $ 17,185 Operating income $ 6,224 $ 5,722 $ 4,921 Net income $ 4,190 $ 3,158 $ 2,333

Other Assets (Tables)

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2023
Other Assets [Abstract]
Schedule of Other Assets	(In thousands) December 31, 2023 December 31, 2022 Restricted cash $ 101 $ 101 Prepaid expenses 20,594 19,871 Indefinite-lived intangibles 1,988 1,988 Deposit with lender (1) 13,440 — Furniture, fixtures and equipment, net 7,014 7,144 Other 6,123 4,837 Total other assets $ 49,260 $ 33,941 _______________________________________________________________________ (1) In connection with the Barrington Plaza loan, Barrington Plaza Apartments have been removed from the rental market. See Note 3, "Property to be removed from service". The lender required a $13.3 million cash deposit, which we placed in an interest-bearing collateral account during the third quarter of 2023. The lender will return the deposit at the earlier of August 2026 or when the loan is paid in full. See Note 8 for our debt disclosures.

Secured Notes Payable, Net (Tab

Secured Notes Payable, Net (Tables)	12 Months Ended
	Dec. 31, 2023
Debt Disclosure [Abstract]
Schedule of Secured Notes Payable	Description Maturity Date (1) Principal Balance as of December 31, 2023 Principal Balance as of December 31, 2022 Variable Interest Rate (2) Fixed Interest Rate (3) Swap Maturity Date (In thousands) Consolidated Wholly-Owned Subsidiaries Term loan (4)(5) 3/3/2025 $ 335,000 $ 335,000 SOFR + 1.41% N/A N/A Fannie Mae loan (4)(5) 4/1/2025 102,400 102,400 SOFR + 1.36% N/A N/A Term loan (4) 8/15/2026 415,000 415,000 SOFR + 1.20% 3.07% 8/1/2025 Term loan (4) 9/19/2026 400,000 400,000 SOFR + 1.25% 2.44% 9/1/2024 Term loan (4) 9/26/2026 200,000 200,000 SOFR + 1.30% 2.36% 10/1/2024 Term loan (4) 11/1/2026 400,000 400,000 SOFR + 1.25% 2.31% 10/1/2024 Fannie Mae loan (4)(6) 6/1/2027 550,000 550,000 SOFR + 1.48% N/A N/A Term loan (4) 5/18/2028 300,000 300,000 SOFR + 1.51% 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 (4) 6/1/2029 255,000 255,000 SOFR + 1.09% 3.26% 6/1/2027 Fannie Mae loan (4) 6/1/2029 125,000 125,000 SOFR + 1.09% 3.25% 6/1/2027 Fannie Mae loan (4)(7) 8/1/2033 350,000 — SOFR + 1.37% N/A N/A Term loan (8) 6/1/2038 27,640 28,502 N/A 4.55% N/A Total Wholly-Owned Subsidiary Debt 3,760,040 3,410,902 Consolidated JVs Term loan (4)(9) 12/19/2024 400,000 400,000 SOFR + 1.40% N/A N/A Term loan (4) 5/15/2027 450,000 450,000 SOFR + 1.45% 2.26% 4/1/2025 Term loan (4) 8/19/2028 625,000 625,000 SOFR + 1.45% 2.12% 6/1/2025 Term loan (4)(10) 4/26/2029 175,000 175,000 SOFR + 1.25% 3.90% 5/1/2026 Fannie Mae loan (4) 6/1/2029 160,000 160,000 SOFR + 1.09% 3.25% 7/1/2027 Total Consolidated Debt (11) 5,570,040 5,220,902 Unamortized loan premium, net (12) 3,087 3,547 Unamortized deferred loan costs, net (13) (29,956) (32,556) Total Consolidated Debt, net $ 5,543,171 $ 5,191,893 _____________________________________________________ Except as noted below, our loans: (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) LIBOR loans converted to SOFR during 2023 include a small SOFR adjustment to calculate the interest payable to the lender, which are included in the spreads. The SOFR conversion did not change the swap-fixed interest rates for our swap-fixed loans. (3) Effective rate as of December 31, 2023. Includes the effect of interest rate swaps (if applicable) 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 premiums. (4) The loan agreement includes a zero-percent SOFR floor. If the loan is swap-fixed then the related swaps do not include such a floor. (5) The swaps expired on March 1, 2023. (6) The loan is secured by four residential properties. A portion of the loan totaling $472.0 million has a lender-required out-of-the-money interest rate cap at a weighted average of 8.99% until July 2026 . Barrington Plaza Apartments have been removed from the rental market. S ee Note 3, "Property to be removed from service." For the portion of the loan relating to Barrington Plaza, t he lender is treating the debt as a construction loan. They required a $13.3 million cash deposit, which we placed in an interest-bearing collateral account during the third quarter of 2023, and we signed a construction completion guarantee in January 2024. The lender will return the deposit at the earlier of August 2026 or when the loan is paid in full. The deposit is included in Other assets in our balance sheet. See Note 7. (7) We closed the loan during the third quarter of 2023. The loan has a lender-required out-of-the-money interest rate cap at an interest rate of 7.84% until August 2026. We used part of the proceeds from the loan to pay off the balance on our revolving credit facility, which expired in August 2023. There was no balance outstanding on the credit facility as of December 31, 2022. (8) The loan requires monthly payments of principal and interest. The principal amortization is based upon a 30-year amortization schedule. (9) The swaps expired on January 1, 2023. (10) During the fourth quarter of 2023, we entered into a guarantee for this loan which guarantees the portion of the loan principal that would need to be paid down in order to meet the minimum debt yield in the loan agreement. See Note 17. (11) The table does not include our unconsolidated Fund's loan - see Note 17. See Note 14 for our fair value disclosures. (12) Balances are net of accumulated amortization of $4.1 million and $3.7 million at December 31, 2023 and December 31, 2022, respectively. (13) Balances are net of accumulated amortization of $56.0 million and $54.1 million at December 31, 2023 and December 31, 2022, respectively. Debt Statistics The table below summarizes our consolidated fixed and floating rate debt: (In thousands) Principal Balance as of December 31, 2023 Principal Balance as of December 31, 2022 Aggregate swapped to fixed rate loans $ 3,805,000 $ 4,642,400 Aggregate fixed rate loans 27,640 28,502 Aggregate capped rate loans 822,000 — Aggregate floating rate loans 915,400 550,000 Total Debt $ 5,570,040 $ 5,220,902 The table below summarizes certain consolidated debt statistics as of December 31, 2023: Statistics for consolidated loans with interest fixed under the terms of the loan or a swap Principal balance (in billions) $3.83 Weighted average remaining life (including extension options) 4.0 years Weighted average remaining fixed interest period 1.9 years Weighted average annual interest rate 2.65%
Schedule of Minimum Future Principal Payments	At December 31, 2023, the minimum future principal payments due on our consolidated secured notes payable were as follows: Year ending December 31: Including Maturity Extension Options (1) (In thousands) 2024 $ 400,902 2025 438,343 2026 1,415,987 2027 1,001,033 2028 926,081 Thereafter 1,387,694 Total future principal payments $ 5,570,040 ____________________________________________ (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 on our consolidated statements of operations: Year Ended December 31, (In thousands) 2023 2022 2021 Loan premium amortized and written off $ (460) $ (460) $ (460) Deferred loan costs amortized and written off 8,858 7,943 10,902 Loan costs expensed 210 117 408 Total $ 8,608 $ 7,600 $ 10,850

Interest Payable, Accounts Pa_2

Interest Payable, Accounts Payable and Deferred Revenue (Tables)	12 Months Ended
	Dec. 31, 2023
Accounts Payable and Accrued Liabilities [Abstract]
Schedule of Interest Payable, Accounts Payable and Deferred Revenue	(In thousands) December 31, 2023 December 31, 2022 Interest payable $ 18,647 $ 13,529 Accounts payable and accrued liabilities 61,767 80,244 Deferred revenue 50,823 47,152 Total interest payable, accounts payable and deferred revenue $ 131,237 $ 140,925

Derivative Contracts (Tables)

Derivative Contracts (Tables)	12 Months Ended
	Dec. 31, 2023
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Swap Derivatives	The table below summarizes our derivative contracts as of December 31, 2023: Number of Interest Rate Swaps Notional Derivatives Designated as Cash Flow Hedges: Consolidated derivatives - swaps (1)(2)(3) 24 $ 3,805,000 Consolidated derivatives - caps (2)(3)(4) 5 $ 822,000 Unconsolidated Fund's derivatives - swaps (2)(3)(5) 2 $ 115,000 Derivatives Not Designated as Cash Flow Hedges: Consolidated derivatives - caps (6) — $ — ___________________________________________________ (1) The notional amount includes 100%, not our pro-rata share, of our consolidated JVs' derivatives. See Note 8 for more information about our hedged consolidated debt. (2) Our derivative contracts do not provide for right of offset between derivative contracts. (3) See Note 14 for our derivative fair value disclosures. (4) We purchased five interest rate caps with a notional amount of $822.0 million during the third quarter of 2023. See Note 8 for more information about our hedged consolidated debt. (5) The notional amount reflects 100%, not our pro-rata share, of our unconsolidated Fund's derivatives. See Note 6 for more information about our Fund, including our equity interest percentage. (6) Five interest rate caps with a total aggregate notional amount of $1.10 billion expired on July 1, 2023.
Schedule of Derivative Assets at Fair Value	The fair value of our interest rate swap and cap contract assets, including accrued interest and excluding credit risk adjustments, was as follows: (In thousands) December 31, 2023 December 31, 2022 Consolidated derivatives (1) $ 184,700 $ 281,982 Unconsolidated Fund's derivatives (2) $ 9,643 $ 12,863 ___________________________________________________ (1) The amounts include 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.
Schedule of 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) Year Ended December 31, 2023 2022 2021 Derivatives Designated as Cash Flow Hedges: Consolidated derivatives: Gains recorded in AOCI before reclassifications (1) $ 45,364 $ 326,396 $ 82,876 (Gains) losses reclassified from AOCI to Interest Expense (1) $ (144,318) $ (4,287) $ 75,358 Interest expense presented on the consolidated statements of operations $ (209,468) $ (150,185) $ (147,496) Unconsolidated Fund's derivatives (our share) (2) : Gains recorded in AOCI before reclassifications (1) $ 585 $ 3,780 $ 569 (Gains) losses reclassified from AOCI to Income (loss) from unconsolidated Fund (1) $ (1,662) $ (341) $ 120 (Loss) income from unconsolidated Fund presented on the consolidated statements of operations $ (34,643) $ 1,224 $ 946 Derivatives Not Designated as Cash Flow Hedges: Consolidated derivatives: Loss recorded as interest expense (3) $ — $ 38 $ — __________________________________________________ (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. (3) Gains and losses from non-designated interest rate caps offset each other during the periods presented. The respective caps expired on July 1, 2023.
Schedule of Future Reclassifications from AOCI	At December 31, 2023, our estimate of the AOCI related to derivatives designated as cash flow hedges that will be reclassified to earnings during the next year is as follows: (In thousands) Consolidated derivatives: Gains to be reclassified from AOCI to Interest Expense $ 120,101 Unconsolidated Fund's derivatives (our share) (1) : Gains to be reclassified from AOCI to Income (loss) from unconsolidated Fund $ 1,505 ______________________________________________ (1) We calculate our share by multiplying the total amount for our 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)	12 Months Ended
	Dec. 31, 2023
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 (loss) income attributable to common stockholders and changes in our ownership interest in our Operating Partnership: Year Ended December 31, (In thousands) 2023 2022 2021 Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267 Transfers from noncontrolling interests: Exchange of OP Units with noncontrolling interests 7,741 4,600 1,056 Repurchases of OP Units from noncontrolling interests 1,054 (176) (57) Net transfers from noncontrolling interests 8,795 4,424 999 Change from net (loss) income attributable to common stockholders and transfers from noncontrolling interests $ (33,911) $ 101,569 $ 66,266
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: Year Ended December 31, (In thousands) 2023 2022 2021 Accumulated Other Comprehensive Income (Loss) - Beginning balance $ 187,063 $ (38,774) $ (148,035) Consolidated derivatives: Other comprehensive income before reclassifications 45,364 326,396 82,876 Reclassification of (gains) losses from AOCI to Interest Expense (144,318) (4,287) 75,358 Unconsolidated Fund's derivatives (our share) (2) : Other comprehensive income before reclassifications 585 3,780 569 Reclassification of (gains) losses from AOCI to Income (loss) from unconsolidated Fund (1,662) (341) 120 Net current period OCI (100,031) 325,548 158,923 OCI attributable to noncontrolling interests 28,885 (99,711) (49,662) OCI attributable to common stockholders (71,146) 225,837 109,261 Accumulated Other Comprehensive Income (Loss) - Ending balance $ 115,917 $ 187,063 $ (38,774) __________________________________________________ (1) See Note 10 for the details of our derivatives and Note 14 for our derivative fair value disclosures. (2)
Schedule of Common Stock Dividends Classification for United States Federal Income Tax Purposes	Our common stock dividends paid during 2023 are classified for federal income tax purposes as follows: Record Date Paid Date Dividend Per Share Ordinary Income % Capital Gain % Return of Capital % Section 199A Dividend % 12/30/2022 1/18/2023 $ 0.19 20.0 % — % 80.0 % 20.0 % 3/31/2023 4/14/2023 0.19 20.0 % — % 80.0 % 20.0 % 6/30/2023 7/18/2023 0.19 20.0 % — % 80.0 % 20.0 % 9/29/2023 10/17/2023 0.19 20.0 % — % 80.0 % 20.0 % Total / Weighted Average $ 0.76 20.0 % — % 80.0 % 20.0 %

EPS (Tables)

EPS (Tables)	12 Months Ended
	Dec. 31, 2023
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The table below presents the calculation of basic and diluted EPS: Year Ended December 31, 2023 2022 2021 Numerator (In thousands): Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267 Allocation to participating securities: Unvested LTIP Units (1,191) (912) (876) Net (loss) income attributable to common stockholders - basic and diluted $ (43,897) $ 96,233 $ 64,391 Denominator (In thousands): Weighted average shares of common stock outstanding - basic and diluted (1) 169,597 175,756 175,478 Net (loss) income per common share - basic and diluted $ (0.26) $ 0.55 $ 0.37 ____________________________________________________ (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 or loss (equal on a per unit basis to the Net income or loss per common share - diluted) was already deducted in calculating Net income (loss) 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: Year Ended December 31, (In thousands) 2023 2022 2021 OP Units 30,931 29,756 28,643 Vested LTIP Units 1,585 1,120 1,439

Stock-Based Compensation (Table

Stock-Based Compensation (Tables)	12 Months Ended
	Dec. 31, 2023
Share-Based Payment Arrangement [Abstract]
Schedule of Stock-Based Compensation Expense	The table below presents our stock-based compensation expense: Year Ended December 31, (In thousands) 2023 2022 2021 Stock-based compensation expense, net $ 19,834 $ 21,025 $ 20,887 Capitalized stock-based compensation $ 6,016 $ 5,479 $ 6,183
Schedule of Unvested LTIP Units	The table below presents our unvested LTIP Units activity: Unvested LTIP Units: Number of Units (Thousands) Weighted Average Grant Date Fair Value Grant Date Fair Value (Thousands) Outstanding at December 31, 2020 984 $ 25.71 Granted 1,121 $ 24.64 $ 27,631 Vested (1,073) $ 25.05 $ 26,871 Forfeited (17) $ 28.69 $ 501 Outstanding at December 31, 2021 1,015 $ 25.17 Granted 2,310 $ 11.69 $ 26,987 Vested (1,705) $ 15.72 $ 26,794 Forfeited (20) $ 29.20 $ 587 Outstanding at December 31, 2022 1,600 $ 15.73 Granted 2,384 $ 10.89 $ 25,959 Vested (1,970) $ 12.97 $ 25,555 Forfeited (17) $ 18.70 $ 327 Outstanding at December 31, 2023 1,997 $ 12.64

Fair Value of Financial Instr_2

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2023
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, the carrying value includes unamortized loan premium and excludes unamortized deferred loan fees: (In thousands) December 31, 2023 December 31, 2022 Fair value $ 5,484,032 $ 5,115,548 Carrying value $ 5,573,127 $ 5,224,449 (In thousands) December 31, 2023 December 31, 2022 Fair value $ 4,496 $ 4,466 Carrying value $ 10,836 $ 10,848
Schedule of Financial Instruments Measured at Fair Value	The table below presents the estimated fair value of our derivatives: (In thousands) December 31, 2023 December 31, 2022 Derivative Assets: Fair value - c onsolidated derivatives (1) $ 170,880 $ 270,234 Fair value - unconsolidated Fund's derivatives (2) $ 9,150 $ 12,426 Derivative Liabilities: Fair value - c onsolidated derivatives (1) $ — $ 1,790 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 on our consolidated balance sheets. The fair values exclude accrued interest which is included in interest payable on our 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 on our consolidated balance sheets. Our unconsolidated Fund did not have any derivatives in a liability position for the periods presented. See Note 6 for more information about our Fund, including our equity interest percentage, and see "Guarantees" in Note 17 regarding our Fund's derivatives.

Segment Reporting (Tables)

Segment Reporting (Tables)	12 Months Ended
	Dec. 31, 2023
Segment Reporting [Abstract]
Summary of Operating Activity of Reportable Segments	The table below presents the operating activity of our reportable segments: (In thousands) Year Ended December 31, 2023 2022 2021 Office Segment Total office revenues $ 829,945 $ 824,573 $ 786,870 Office expenses (294,310) (284,522) (265,376) Office segment profit 535,635 540,051 521,494 Multifamily Segment Total multifamily revenues 190,543 169,079 131,527 Multifamily expenses (67,323) (49,299) (38,025) Multifamily segment profit 123,220 119,780 93,502 Total profit from all segments $ 658,855 $ 659,831 $ 614,996
Schedule of Reconciliation of Segment Profit to Net (Loss) Income Attributable to Common Stockholders	The table below presents a reconciliation of the total profit from all segments to net (loss) income attributable to common stockholders: (In thousands) Year Ended December 31, 2023 2022 2021 Total profit from all segments $ 658,855 $ 659,831 $ 614,996 General and administrative expenses (49,236) (45,405) (42,554) Depreciation and amortization (459,949) (372,798) (371,289) Other income 19,633 4,587 2,465 Other expenses (1,032) (714) (937) (Loss) Income from unconsolidated Fund (34,643) 1,224 946 Interest expense (209,468) (150,185) (147,496) Net (loss) income (75,840) 96,540 56,131 Net loss attributable to noncontrolling interests 33,134 605 9,136 Net (loss) income attributable to common stockholders $ (42,706) $ 97,145 $ 65,267

Future Minimum Lease Rental R_2

Future Minimum Lease Rental Receipts (Tables)	12 Months Ended
	Dec. 31, 2023
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 December 31, 2023: Year ending December 31: (In thousands) 2024 $ 603,197 2025 496,486 2026 396,251 2027 309,999 2028 225,451 Thereafter 700,681 Total future minimum base rentals (1) $ 2,732,065 _____________________________________________________ (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	Dec. 31, 2023 USD ($) ft² venture parcel unit	Dec. 31, 2022 USD ($) ft²	Apr. 26, 2022 unit
Real Estate Properties [Line Items]
Consolidated debt	$ 5,570,040	$ 5,220,902
Number of joint ventures consolidated | venture	4
Total assets	$ 9,644,218	9,747,446
Consolidated investment in real estate	8,753,184	8,993,608
Total liabilities	5,798,821	5,471,663
Consolidated liabilities related to debt	5,543,171	5,191,893
Multifamily
Real Estate Properties [Line Items]
Number of multifamily apartment units | unit			120
Subsidiaries
Real Estate Properties [Line Items]
Consolidated debt	3,760,040	3,410,902
Consolidated entities
Real Estate Properties [Line Items]
Total assets	3,830,000	3,940,000
Consolidated investment in real estate	3,470,000	3,540,000
Total liabilities	1,880,000	1,890,000
Consolidated liabilities related to debt	$ 1,810,000	$ 1,810,000
Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Number of land parcels subject to ground lease | parcel	2
Wholly owned and Consolidated properties | Office
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	17.6
Wholly owned and Consolidated properties | Multifamily
Real Estate Properties [Line Items]
Number of multifamily apartment units | unit	4,576
Unconsolidated Fund properties | Office
Real Estate Properties [Line Items]
Area of real estate portfolio (sq ft) | ft²	0.4	0.4

Overview - Schedule of Properti

Overview - Schedule of Properties Portfolio (Details) - property	Dec. 31, 2023	Dec. 31, 2022
Real Estate Properties [Line Items]
Number of properties	84
Office
Real Estate Properties [Line Items]
Number of properties	70
Office | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	52
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	14
Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	12
Multifamily | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	2
Consolidated Portfolio
Real Estate Properties [Line Items]
Number of properties	82
Consolidated Portfolio | Office
Real Estate Properties [Line Items]
Number of properties	68
Consolidated Portfolio | Office | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	52
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	14
Consolidated Portfolio | Multifamily | Wholly-owned properties
Real Estate Properties [Line Items]
Number of properties	12
Consolidated Portfolio | Multifamily | Consolidated JV properties
Real Estate Properties [Line Items]
Number of properties	2

Summary of Significant Accoun_3

Summary of Significant Accounting Policies - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) parcel fund segment subsidiary	Dec. 31, 2022 USD ($) fund	Dec. 31, 2021 USD ($)
Real Estate Properties [Line Items]
Development costs capitalized	$ 38,000,000	$ 59,700,000	$ 185,400,000
Interest costs capitalized	$ 1,500,000	$ 9,100,000	8,800,000
Number of unconsolidated funds | fund	1	1
Total basis difference	$ 4,100,000	$ 27,800,000
Impairment of real estate	0	0	0
Total revenues	1,020,488,000	993,652,000	918,397,000
Lease termination revenue	5,200,000	1,300,000	1,200,000
Charge for uncollectible amounts	800,000	600,000	3,000,000
Parking receivables	$ 800,000	900,000
Operating Lease, Lease Income, Statement of Income or Comprehensive Income [Extensible Enumeration]	Total revenues
Proceeds from sale of insurance investments	$ 1,300,000	$ 3,900,000	$ 4,800,000
Gain on business interruption insurance recovery, statement of income or comprehensive income [Extensible Enumeration]	Total revenues	Total revenues	Total revenues
Number of reportable business segments | segment	2
Number of persons elected to treat our subsidiaries | subsidiary	1
Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Number of land parcels subject to ground lease | parcel	2
Tenant Recoveries
Real Estate Properties [Line Items]
Total revenues	$ 61,600,000	$ 58,200,000	$ 56,500,000
Rental revenue - tenant improvements
Real Estate Properties [Line Items]
Total revenues	5,800,000	4,800,000	5,800,000
Office Revenues
Real Estate Properties [Line Items]
Revenues that were previously uncollectible	4,400,000	3,600,000
Office Parking and Other Income
Real Estate Properties [Line Items]
Operating income	92,200,000	84,900,000	69,000,000
Office Parking and Other Income | Wholly owned and Consolidated properties
Real Estate Properties [Line Items]
Operating income	$ 7,900,000	$ 2,100,000	$ 300,000
Buildings | Minimum
Real Estate Properties [Line Items]
Estimated useful life (in years)	25 years
Buildings | Maximum
Real Estate Properties [Line Items]
Estimated useful life (in years)	40 years
Site Improvements
Real Estate Properties [Line Items]
Estimated useful life (in years)	15 years

Investment in Real Estate - Sum

Investment in Real Estate - Summarize Investment (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule Of Asset Acquisitions [Line Items]
Land	$ 1,185,977	$ 1,185,977
Buildings and improvements	10,142,410	10,055,499
Tenant improvements and lease intangibles	1,020,988	981,460
Property under development	56,439	70,037
Investment in real estate, gross	12,405,814	12,292,973
Building Improvements
Schedule Of Asset Acquisitions [Line Items]
Property under development balances transferred to Building and improvements for real estate placed into service	$ 51,600	360,400
Land Improvements
Schedule Of Asset Acquisitions [Line Items]
Property under development balances transferred to Building and improvements for real estate placed into service		$ 13,100

Investment in Real Estate - Nar

Investment in Real Estate - Narrative (Details) $ in Millions		12 Months Ended
	Apr. 26, 2022 USD ($) unit	Dec. 31, 2023 USD ($)	Dec. 31, 2022
Schedule Of Asset Acquisitions [Line Items]
Acceleration and recorded additional depreciation expense		$ 82.1
Variable Interest Entity, Primary Beneficiary
Schedule Of Asset Acquisitions [Line Items]
Capital interest in consolidated JV (percent)	55%		55%
Multifamily
Schedule Of Asset Acquisitions [Line Items]
Payments to acquire real estate property	$ 330
Number of multifamily apartment units | unit	120

Investment in Real Estate - Acq

Investment in Real Estate - Acquisitions (Details) - 1221 Ocean Avenue $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Schedule Of Asset Acquisitions [Line Items]
Tenant improvements and lease intangibles	$ 8,879
Acquired below-market leases	(18,542)
Other liabilities assumed	(1,619)
Net assets and liabilities acquired	330,470
Land
Schedule Of Asset Acquisitions [Line Items]
Land, Buildings and improvements	22,086
Buildings and improvements
Schedule Of Asset Acquisitions [Line Items]
Land, Buildings and improvements	$ 319,666

Ground Lease - Narrative (Detai

Ground Lease - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Lessee Disclosure [Abstract]
Fixed rent payments due per year on ground lease	$ 733
Ground lease right-of-use asset	7,447	$ 7,455
Ground lease liability	10,836	10,848
Ground rent expense	$ 733	$ 733	$ 733

Ground Lease - Summary of Groun

Ground Lease - Summary of Ground Lease Payments (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Future Minimum Ground Lease Payments
2024	$ 733
2025	733
2026	733
2027	733
2028	733
Thereafter	42,513
Total future minimum lease payments	$ 46,178

Acquired Lease Intangibles - Su

Acquired Lease Intangibles - Summary of Acquired Lease Intangibles (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Acquired Finite-Lived Intangible Assets [Line Items]
Acquired lease intangible assets, net	$ 2,971	$ 3,536
Acquired lease intangible liabilities, net	19,838	31,364
Above-market tenant leases
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	4,541	4,968
Accumulated amortization	(2,430)	(2,309)
Above-market ground lease where we are the lessor
Acquired Finite-Lived Intangible Assets [Line Items]
Off-market lease, assets	1,152	1,152
Accumulated amortization	(292)	(275)
Below-market tenant leases
Acquired Finite-Lived Intangible Assets [Line Items]
Below-market tenant leases	48,008	64,851
Below-market tenant leases - accumulated accretion	$ (28,170)	$ (33,487)

Acquired Lease Intangibles - Im

Acquired Lease Intangibles - Impact on Consolidated Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ 10,961	$ 11,255	$ 9,541
Rental Revenue | Tenant Leases
Acquired Finite-Lived Intangible Assets [Line Items]
Total	10,978	11,272	9,558
Office Parking and Other Income | Above-market ground lease where we are the lessor
Acquired Finite-Lived Intangible Assets [Line Items]
Total	$ (17)	$ (17)	$ (17)

Acquired Lease Intangibles - Es

Acquired Lease Intangibles - Estimated Future Net Accretion (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Net increase to revenues
2024	$ 7,914
2025	5,359
2026	2,574
2027	1,323
2028	769
Thereafter	(1,072)
Total	$ 16,867

Investments in Unconsolidated_3

Investments in Unconsolidated Fund - Narrative (Details) ft² in Millions	Dec. 31, 2023 ft² property	Dec. 30, 2023	Dec. 31, 2022 ft² property	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Number of office properties	84
Amounts related to the Fund (percent)	100%
Office
Schedule of Equity Method Investments [Line Items]
Number of office properties	70
Office | Unconsolidated Fund properties
Schedule of Equity Method Investments [Line Items]
Number of office properties	2		2
Area of real estate portfolio (sq ft) | ft²	0.4		0.4
Partnership X
Schedule of Equity Method Investments [Line Items]
Equity interest of the fund (percent)	53.80%	33.50%	33.50%	33.50%
Purchased additional equity interest fund, percentage	0.202

Investments in Unconsolidated_4

Investments in Unconsolidated Fund - Summary of Cash Distributions Received from Funds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Real Estate Investments, Net [Abstract]
Operating distributions received	$ 1,288	$ 1,224	$ 943
Capital distributions received	80	1,919	1,342
Total distributions received	$ 1,368	$ 3,143	$ 2,285

Investments in Unconsolidated_5

Investments in Unconsolidated Fund - Summary of Statement of Financial Position Information for Funds (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Schedule of Equity Method Investments [Line Items]
Total assets	$ 9,644,218	$ 9,747,446
Total liabilities	5,798,821	5,471,663
Total equity	2,219,862	2,562,414
Unconsolidated Funds
Schedule of Equity Method Investments [Line Items]
Total assets	146,945	147,853
Total liabilities	118,822	119,038
Total equity	$ 28,123	$ 28,815

Investments in Unconsolidated_6

Investments in Unconsolidated Fund - Summary of Statement of Operations Information for Funds (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Total revenues	$ 1,020,488	$ 993,652	$ 918,397
Net income	(42,706)	97,145	65,267
Unconsolidated Funds
Schedule of Equity Method Investments [Line Items]
Total revenues	19,879	18,561	17,185
Operating income	6,224	5,722	4,921
Net income	$ 4,190	$ 3,158	$ 2,333

Other Assets (Details)

Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Debt Instrument [Line Items]
Restricted cash	$ 101		$ 101	$ 101
Prepaid expenses	20,594		19,871
Indefinite-lived intangibles	1,988		1,988
Deposit with lender	13,440		0
Furniture, fixtures and equipment, net	7,014		7,144
Other	6,123		4,837
Total other assets	49,260		33,941
Cash deposit	$ 13,440		$ 0
Subsidiaries | Fannie Mae Loan - June 1, 2027 Maturity | Secured Debt
Debt Instrument [Line Items]
Deposit with lender		$ 13,300
Cash deposit		$ 13,300

Secured Notes Payable, Net - Su

Secured Notes Payable, Net - Summary (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) property	Sep. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Debt Instrument [Line Items]
Principal balance	$ 5,570,040		$ 5,220,902
Unamortized loan premium, net	3,087		3,547
Unamortized deferred loan costs, net	(29,956)		(32,556)
Total Consolidated Debt, net	$ 5,543,171		5,191,893
Minimum number of collateral pools used to secure loans | property	1
Cash deposit	$ 13,440		0
Loan premium accumulated amortization	4,100		3,700
Accumulated amortization on deferred loan costs	$ 56,000		54,100
Secured Debt | SOFR
Debt Instrument [Line Items]
Loan agreement SOFR floor	0
Secured Debt | Term Loan - Fixed - June 1, 2038 Maturity
Debt Instrument [Line Items]
Principal amortization period (in years)	30 years
Subsidiaries
Debt Instrument [Line Items]
Principal balance	$ 3,760,040		3,410,902
Subsidiaries | Fannie Mae Loan - June 1, 2027 Maturity
Debt Instrument [Line Items]
Interest rate	8.99%
Subsidiaries | Fannie Mae Loan - August 1, 2033 Maturity
Debt Instrument [Line Items]
Interest rate	7.84%
Subsidiaries | Secured Debt | Term Loan - March 3, 2025 Maturity
Debt Instrument [Line Items]
Maturity date	Mar. 03, 2025
Principal balance	$ 335,000		335,000
Subsidiaries | Secured Debt | Term Loan - March 3, 2025 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.41%
Subsidiaries | Secured Debt | Fannie Mae Loan - April 1, 2025 Maturity
Debt Instrument [Line Items]
Maturity date	Apr. 01, 2025
Principal balance	$ 102,400		102,400
Subsidiaries | Secured Debt | Fannie Mae Loan - April 1, 2025 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.36%
Subsidiaries | Secured Debt | Term Loan - Aug 15, 2026 Maturity
Debt Instrument [Line Items]
Maturity date	Aug. 15, 2026
Principal balance	$ 415,000		415,000
Fixed Interest Rate	3.07%
Swap Maturity Date	Aug. 01, 2025
Subsidiaries | Secured Debt | Term Loan - Aug 15, 2026 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.20%
Subsidiaries | Secured Debt | Term Loan - Sep 19, 2026 Maturity
Debt Instrument [Line Items]
Maturity date	Sep. 19, 2026
Principal balance	$ 400,000		400,000
Fixed Interest Rate	2.44%
Swap Maturity Date	Sep. 01, 2024
Subsidiaries | Secured Debt | Term Loan - Sep 19, 2026 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.25%
Subsidiaries | Secured Debt | Term Loan - Sep 26, 2026 Maturity
Debt Instrument [Line Items]
Maturity date	Sep. 26, 2026
Principal balance	$ 200,000		200,000
Fixed Interest Rate	2.36%
Swap Maturity Date	Oct. 01, 2024
Subsidiaries | Secured Debt | Term Loan - Sep 26, 2026 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.30%
Subsidiaries | Secured Debt | Term Loan - Nov 1, 2026 Maturity
Debt Instrument [Line Items]
Maturity date	Nov. 01, 2026
Principal balance	$ 400,000		400,000
Fixed Interest Rate	2.31%
Swap Maturity Date	Oct. 01, 2024
Subsidiaries | Secured Debt | Term Loan - Nov 1, 2026 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.25%
Subsidiaries | Secured Debt | Fannie Mae Loan - June 1, 2027 Maturity
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2027
Principal balance	$ 550,000		550,000
Number of residential properties | property	4
Debt instrument face amount	$ 472,000
Cash deposit		$ 13,300
Subsidiaries | Secured Debt | Fannie Mae Loan - June 1, 2027 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.48%
Subsidiaries | Secured Debt | Term Loan - May 18, 2028 Maturity
Debt Instrument [Line Items]
Maturity date	May 18, 2028
Principal balance	$ 300,000		300,000
Fixed Interest Rate	2.21%
Swap Maturity Date	Jun. 01, 2026
Subsidiaries | Secured Debt | Term Loan - May 18, 2028 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.51%
Subsidiaries | Secured Debt | Term Loan - January 1, 2029 Maturity
Debt Instrument [Line Items]
Maturity date	Jan. 01, 2029
Principal balance	$ 300,000		300,000
Fixed Interest Rate	2.66%
Swap Maturity Date	Jan. 01, 2027
Subsidiaries | Secured Debt | Term Loan - January 1, 2029 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.56%
Subsidiaries | Secured Debt | Fannie Mae Loan (MHA) - June 1, 2029 Maturity
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2029
Principal balance	$ 255,000		255,000
Fixed Interest Rate	3.26%
Swap Maturity Date	Jun. 01, 2027
Subsidiaries | Secured Debt | Fannie Mae Loan (MHA) - June 1, 2029 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.09%
Subsidiaries | Secured Debt | Fannie Mae Loans (Boutiques) - June 1, 2029 Maturity
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2029
Principal balance	$ 125,000		125,000
Fixed Interest Rate	3.25%
Swap Maturity Date	Jun. 01, 2027
Subsidiaries | Secured Debt | Fannie Mae Loans (Boutiques) - June 1, 2029 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.09%
Subsidiaries | Secured Debt | Fannie Mae Loan - August 1, 2033 Maturity
Debt Instrument [Line Items]
Maturity date	Aug. 01, 2033
Principal balance	$ 350,000		0
Subsidiaries | Secured Debt | Fannie Mae Loan - August 1, 2033 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.37%
Subsidiaries | Secured Debt | Term Loan - Fixed - June 1, 2038 Maturity
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2038
Principal balance	$ 27,640		28,502
Fixed Interest Rate	4.55%
Consolidated JV | Secured Debt | Term Loan - December 19, 2024 Maturity
Debt Instrument [Line Items]
Maturity date	Dec. 19, 2024
Principal balance	$ 400,000		400,000
Consolidated JV | Secured Debt | Term Loan - December 19, 2024 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.40%
Consolidated JV | Secured Debt | Term Loan - May 15, 2027 Maturity
Debt Instrument [Line Items]
Maturity date	May 15, 2027
Principal balance	$ 450,000		450,000
Fixed Interest Rate	2.26%
Swap Maturity Date	Apr. 01, 2025
Consolidated JV | Secured Debt | Term Loan - May 15, 2027 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.45%
Consolidated JV | Secured Debt | Term Loan - August 19, 2028 Maturity
Debt Instrument [Line Items]
Maturity date	Aug. 19, 2028
Principal balance	$ 625,000		625,000
Fixed Interest Rate	2.12%
Swap Maturity Date	Jun. 01, 2025
Consolidated JV | Secured Debt | Term Loan - August 19, 2028 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.45%
Consolidated JV | Secured Debt | Term Loan - April 26, 2029 Maturity
Debt Instrument [Line Items]
Principal balance	$ 175,000		175,000
Fixed Interest Rate	3.90%
Swap Maturity Date	May 01, 2026
Consolidated JV | Secured Debt | Term Loan - April 26, 2029 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.25%
Consolidated JV | Secured Debt | Fannie Mae Loan - June 1, 2029 Maturity
Debt Instrument [Line Items]
Maturity date	Jun. 01, 2029
Principal balance	$ 160,000		$ 160,000
Fixed Interest Rate	3.25%
Swap Maturity Date	Jul. 01, 2027
Consolidated JV | Secured Debt | Fannie Mae Loan - June 1, 2029 Maturity | SOFR
Debt Instrument [Line Items]
Variable Interest Rate	1.09%
Consolidated JV | Floating rate term loan | Term Loan - April 26, 2029 Maturity
Debt Instrument [Line Items]
Maturity date	Apr. 26, 2029

Secured Notes Payable, Net - De

Secured Notes Payable, Net - Debt by Type (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Principal balance	$ 5,570,040	$ 5,220,902
Principal balance (in billions)	$ 3,830,000
Weighted average remaining life (including extension options)	4 years
Weighted average remaining fixed interest period	1 year 10 months 24 days
Weighted average annual interest rate	2.65%
Aggregate swapped to fixed rate loans
Debt Instrument [Line Items]
Principal balance	$ 3,805,000	4,642,400
Aggregate fixed rate loans
Debt Instrument [Line Items]
Principal balance	27,640	28,502
Aggregate capped rate loans
Debt Instrument [Line Items]
Principal balance	822,000	0
Aggregate floating rate loans
Debt Instrument [Line Items]
Principal balance	$ 915,400	$ 550,000

Secured Notes Payable, Net - Fu

Secured Notes Payable, Net - Future Principal Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Minimum Future Principal Payments Due
2024	$ 400,902
2025	438,343
2026	1,415,987
2027	1,001,033
2028	926,081
Thereafter	1,387,694
Total future principal payments	$ 5,570,040	$ 5,220,902

Secured Notes Payable, Net - Lo

Secured Notes Payable, Net - Loan Costs and Accumulated Amortization (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Loan Costs Included in Interest Expense
Loan premium amortized and written off	$ (460)	$ (460)	$ (460)
Interest Expense
Loan Costs Included in Interest Expense
Loan premium amortized and written off	(460)	(460)	(460)
Deferred loan costs amortized and written off	8,858	7,943	10,902
Loan costs expensed	210	117	408
Total	$ 8,608	$ 7,600	$ 10,850

Interest Payable, Accounts Pa_3

Interest Payable, Accounts Payable and Deferred Revenue - Summary of Balances (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Accounts Payable and Accrued Liabilities [Abstract]
Interest payable	$ 18,647	$ 13,529
Accounts payable and accrued liabilities	61,767	80,244
Deferred revenue	50,823	47,152
Total interest payable, accounts payable and deferred revenue	$ 131,237	$ 140,925

Derivative Contracts - Summary

Derivative Contracts - Summary of Derivatives (Details)	Dec. 31, 2023 USD ($) instrument	Sep. 30, 2023 USD ($) instrument	Jun. 30, 2023 USD ($) instrument
Interest Rate Swap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	24
Notional | $	$ 3,805,000,000
Percentage of notional amount disclosed	100%
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%
Interest Rate Cap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	5
Notional | $	$ 822,000,000
Interest Rate Cap | Derivatives Designated as Cash Flow Hedges | Cash Flow Hedging | Interest Rate Cap, Purchased Notional Amount
Derivative [Line Items]
Number of Interest Rate Swaps | instrument		5
Notional | $		$ 822,000,000
Interest Rate Cap | Derivatives Not Designated as Cash Flow Hedges
Derivative [Line Items]
Number of Interest Rate Swaps | instrument	0
Notional | $	$ 0
Interest Rate Cap | Derivatives Not Designated as Cash Flow Hedges | Interest Rate Cap, Sold Notional Amount
Derivative [Line Items]
Number of Interest Rate Swaps | instrument			5
Notional | $			$ 1,100,000,000

Derivative Contracts - Counterp

Derivative Contracts - Counterparty Credit Risk (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Instruments, Gain (Loss) [Line Items]
Fair value of derivatives in an asset position	$ 170,880	$ 270,234
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	$ 184,700	281,982
Percentage of notional amount disclosed	100%
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	$ 9,643	$ 12,863
Percentage of notional amount disclosed	100%

Derivative Contracts - Impact o

Derivative Contracts - Impact of Hedges on AOCI and Statements of Operations (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Derivative [Line Items]
Interest expense presented on the consolidated statements of operations	$ (209,468)	$ (150,185)	$ (147,496)
(Loss) income from unconsolidated Fund presented on the consolidated statements of operations	(34,643)	1,224	946
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges
Derivative [Line Items]
Gains (losses) recorded in AOCI before reclassifications	45,364	326,396	82,876
(Gains) losses reclassified from AOCI to Interest Expense and Income (Loss) from unconsolidated Fund	(144,318)	(4,287)	75,358
Cash Flow Hedging | Derivatives Designated as Cash Flow Hedges | Unconsolidated Funds
Derivative [Line Items]
Gains (losses) recorded in AOCI before reclassifications	585	3,780	569
(Gains) losses reclassified from AOCI to Interest Expense and Income (Loss) from unconsolidated Fund	(1,662)	(341)	120
Cash Flow Hedging | Derivatives Not Designated as Cash Flow Hedges | Interest Expense
Derivative [Line Items]
Loss recorded as interest expense	$ 0	$ 38	$ 0

Derivative Contracts - Future R

Derivative Contracts - Future Reclassifications from AOCI (Details) $ in Thousands	Dec. 31, 2023 USD ($)
Derivative [Line Items]
Derivative gains (losses) to be reclassified during next year	$ 120,101
Unconsolidated Fund
Derivative [Line Items]
Derivative gains (losses) to be reclassified during next year	$ 1,505

Equity - Narrative (Details)

Equity - Narrative (Details) - USD ($) $ / shares in Units, $ in Thousands		12 Months Ended
	Apr. 26, 2022	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
Schedule of Equity Method Investments [Line Items]
Number of OP units converted to shares of common stock (in shares)		468,000	281,000	65,000
Number of OP units redeemed (in shares)		209,000	10,000	4,000
OP Units redeemed with cash		$ 2,406	$ 337	$ 122
Common stock, outstanding (in shares)		167,206,267	175,809,682
Number of shares of common stock issued upon redemption of one OP Unit (in shares)		1
OP unit conversion rate		1
Operating Partnership
Schedule of Equity Method Investments [Line Items]
Noncontrolling interests units ownership in Operating Partnership (in units)		33,800,000
Investors' ownership in joint venture (percent)		16.80%
Multifamily
Schedule of Equity Method Investments [Line Items]
Amount contributed to JV			$ 99,000
Multifamily | Investor
Schedule of Equity Method Investments [Line Items]
Amount contributed to JV			$ 81,000
Variable Interest Entity, Primary Beneficiary
Schedule of Equity Method Investments [Line Items]
Capital interest in consolidated JV (percent)	55%		55%
Common Stock
Schedule of Equity Method Investments [Line Items]
Repurchase of common stock (in shares)		9,100,000
Cash excluding transaction costs		$ 109,100
Purchase price paid (usd per share)		$ 12.03
Number of OP units converted to shares of common stock (in shares)		468,000	281,000	65,000
Common stock, outstanding (in shares)		167,206,000	175,810,000	175,529,000	175,464,000
Common Stock | Operating Partnership
Schedule of Equity Method Investments [Line Items]
Percentage of operating partnership's total outstanding interests		83.20%

Equity - Net Income Attributabl

Equity - Net Income Attributable to Common Stockholders and Transfers (to) from Noncontrolling Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Stockholders' Equity Note [Abstract]
Net (loss) income attributable to common stockholders	$ (42,706)	$ 97,145	$ 65,267
Transfers from noncontrolling interests:
Exchange of OP Units with noncontrolling interests	7,741	4,600	1,056
Repurchases of OP Units from noncontrolling interests	1,054	(176)	(57)
Net transfers from noncontrolling interests	8,795	4,424	999
Change from net (loss) income attributable to common stockholders and transfers from noncontrolling interests	$ (33,911)	$ 101,569	$ 66,266

Equity - Accumulated Other Comp

Equity - Accumulated Other Comprehensive Income Schedule (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	$ 4,275,783	$ 3,986,553	$ 3,996,019
Other comprehensive income before reclassifications	45,364	326,396	82,876
Reclassification of (gains) losses from AOCI to income (loss) from unconsolidated fund/ interest expense	(144,318)	(4,287)	75,358
Net current period OCI	(100,031)	325,548	158,923
OCI attributable to noncontrolling interests	28,885	(99,711)	(49,662)
OCI attributable to common stockholders	(71,146)	225,837	109,261
Ending balance	3,845,397	4,275,783	3,986,553
Unconsolidated Funds
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Other comprehensive income before reclassifications	585	3,780	569
Reclassification of (gains) losses from AOCI to income (loss) from unconsolidated fund/ interest expense	(1,662)	(341)	120
Accumulated Other Comprehensive Income (Loss)
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance	187,063	(38,774)	(148,035)
Ending balance	$ 115,917	$ 187,063	$ (38,774)

Equity - Dividends (Details)

Equity - Dividends (Details) - $ / shares	3 Months Ended				12 Months Ended
	Dec. 31, 2023	Sep. 30, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 31, 2023
Dividends, Common Stock [Abstract]
Record Date	Sep. 29, 2023	Jun. 30, 2023	Mar. 31, 2023	Dec. 30, 2022
Paid Date	Oct. 17, 2023	Jul. 18, 2023	Apr. 14, 2023	Jan. 18, 2023
Dividend Per Share (usd per share)	$ 0.19	$ 0.19	$ 0.19	$ 0.19	$ 0.76
Ordinary Income (percent)	20%	20%	20%	20%	20%
Capital Gain (percent)	0%	0%	0%	0%	0%
Return of Capital (percent)	80%	80%	80%	80%	80%
Section 199A Dividend (percent)	20%	20%	20%	20%	20%

EPS (Details)

EPS (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Earnings Per Share [Abstract]
Net (loss) income attributable to common stockholders	$ (42,706)	$ 97,145	$ 65,267
Allocation to participating securities: Unvested LTIP Units	(1,191)	(912)	(876)
Net (loss) income attributable to common stockholders - basic	(43,897)	96,233	64,391
Net (loss) income attributable to common stockholders - diluted	$ (43,897)	$ 96,233	$ 64,391
Weighted average shares of common stock outstanding - basic (in shares)	169,597,000	175,756,000	175,478,000
Weighted average shares of common stock outstanding - diluted (in shares)	169,597,000	175,756,000	175,478,000
Net (loss) income per common share - basic (usd per share)	$ (0.26)	$ 0.55	$ 0.37
Net (loss) income per common share – diluted (usd per share)	$ (0.26)	$ 0.55	$ 0.37
Number of shares of common stock issued upon exchange of one OP unit or one vested LTIP unit (in shares)	1	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)	30,931,000	29,756,000	28,643,000
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)	1,585,000	1,120,000	1,439,000

Stock-Based Compensation - Narr

Stock-Based Compensation - Narrative (Details) $ in Millions	12 Months Ended
	Dec. 31, 2023 USD ($) installment shares	Dec. 31, 2022 shares	Dec. 31, 2021 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock future issuance (in shares)	19,000,000
Shares available for grant (in shares)	16,500,000
Number of full value shares counted against overall limits of the stock incentive plan (in shares)	2
Number of shares counted against overall limits of the stock incentive plan, vesting in over five years (in shares)	1
OP unit conversion rate	1
Awards granted to key employees (in shares)	2,200,000	2,200,000	1,100,000
Unrecognized compensation cost related to nonvested options and LTIP unit awards | $	$ 19
Unrecognized compensation cost related to nonvested options and LTIP unit awards, recognition period	2 years
Non-employee director
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non-employee director awards granted in lieu of cash compensation (in shares)	146,000	134,000	52,000
LTIP Units | Various employees | Vesting tranche one
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of annual vesting installments | installment	3
LTIP Units | Various employees | Vesting tranche two | Minimum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	4 years
LTIP Units | Various employees | Vesting tranche two | Maximum
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years

Stock-Based Compensation - Comp

Stock-Based Compensation - Compensation Expense (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Share-Based Payment Arrangement [Abstract]
Stock-based compensation expense, net	$ 19,834	$ 21,025	$ 20,887
Capitalized stock-based compensation	$ 6,016	$ 5,479	$ 6,183

Stock-Based Compensation - Unve

Stock-Based Compensation - Unvested LTIP Units (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Number of Units
Outstanding, beginning balance (in shares)	1,600	1,015	984
Granted (in shares)	2,384	2,310	1,121
Vested (in shares)	(1,970)	(1,705)	(1,073)
Forfeited (in shares)	(17)	(20)	(17)
Outstanding, ending balance (in shares)	1,997	1,600	1,015
Weighted Average Grant Date Fair Value
Outstanding, beginning balance (usd per share)	$ 15.73	$ 25.17	$ 25.71
Granted (usd per share)	10.89	11.69	24.64
Vested (usd per share)	12.97	15.72	25.05
Forfeited (usd per share)	18.70	29.20	28.69
Outstanding, ending balance (usd per share)	$ 12.64	$ 15.73	$ 25.17
Grant date fair value, granted	$ 25,959	$ 26,987	$ 27,631
Grant date fair value, vested	25,555	26,794	26,871
Grant date fair value, forfeited	$ 327	$ 587	$ 501

Fair Value of Financial Instr_3

Fair Value of Financial Instruments - Estimated Fair Value of Secured Notes Payable (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Ground lease liability	$ 10,836	$ 10,848
Fair value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	5,484,032	5,115,548
Ground lease liability	4,496	4,466
Carrying value | Level 2
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Secured notes payable	5,573,127	5,224,449
Ground lease liability	$ 10,836	$ 10,848

Fair Value of Financial Instr_4

Fair Value of Financial Instruments - Financial Instruments Measured at Fair Value (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022
Derivative Assets:
Fair value - derivatives	$ 170,880	$ 270,234
Derivative Liabilities:
Fair value - derivatives	0	1,790
Level 2
Derivative Assets:
Fair value - derivatives	170,880	270,234
Derivative Liabilities:
Fair value - derivatives	$ 0	1,790
Percentage of notional amount disclosed	100%
Level 2 | Unconsolidated Funds
Derivative Assets:
Fair value - derivatives	$ 9,150	12,426
Derivative Liabilities:
Fair value - derivatives	$ 0	$ 0
Percentage of notional amount disclosed	100%

Fair Value of Financial Instr_5

Fair Value of Financial Instruments - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 USD ($) fund	Dec. 31, 2022 USD ($) fund	Dec. 31, 2021 USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of unconsolidated funds | fund	1	1
Investment in unconsolidated Fund	$ 15,977,000	$ 47,976,000
Partnership X
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	36,200,000	$ 0	$ 0
Equity method investment, aggregate cost	$ 10,800,000
Purchased additional equity interest fund, percentage	0.202
Investment in unconsolidated Fund	$ 16,000,000

Segment Reporting - Narrative (

Segment Reporting - Narrative (Details)	12 Months Ended
	Dec. 31, 2023 segment
Segment Reporting [Abstract]
Number of reportable business segments	2

Segment Reporting - Operating A

Segment Reporting - Operating Activity Within Reportable Segments (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting Information [Line Items]
Total revenue	$ 1,020,488	$ 993,652	$ 918,397
Total profit from all segments	658,855	659,831	614,996
Office Segment
Segment Reporting Information [Line Items]
Total revenue	829,945	824,573	786,870
Operating expenses	(294,310)	(284,522)	(265,376)
Multifamily Segment
Segment Reporting Information [Line Items]
Total revenue	190,543	169,079	131,527
Operating expenses	(67,323)	(49,299)	(38,025)
Reportable Segments
Segment Reporting Information [Line Items]
Total profit from all segments	658,855	659,831	614,996
Reportable Segments | Office Segment
Segment Reporting Information [Line Items]
Total revenue	829,945	824,573	786,870
Operating expenses	(294,310)	(284,522)	(265,376)
Total profit from all segments	535,635	540,051	521,494
Reportable Segments | Multifamily Segment
Segment Reporting Information [Line Items]
Total revenue	190,543	169,079	131,527
Operating expenses	(67,323)	(49,299)	(38,025)
Total profit from all segments	$ 123,220	$ 119,780	$ 93,502

Segment Reporting - Reconciliat

Segment Reporting - Reconciliation of Segment Profit to Net (Loss) Income Attributable to Common Stockholders (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Segment Reporting [Abstract]
Total profit from all segments	$ 658,855	$ 659,831	$ 614,996
General and administrative expenses	(49,236)	(45,405)	(42,554)
Depreciation and amortization	(459,949)	(372,798)	(371,289)
Other income	19,633	4,587	2,465
Other expenses	(1,032)	(714)	(937)
(Loss) Income from unconsolidated Fund	(34,643)	1,224	946
Interest expense	(209,468)	(150,185)	(147,496)
Net (loss) income	(75,840)	96,540	56,131
Net loss attributable to noncontrolling interests	33,134	605	9,136
Net (loss) income attributable to common stockholders	$ (42,706)	$ 97,145	$ 65,267

Future Minimum Lease Rental R_3

Future Minimum Lease Rental Receipts - Narrative (Details)	Dec. 31, 2023 parcel
Wholly-owned properties
Lessor, Lease, Description [Line Items]
Number of land parcels subject to ground lease	2

Future Minimum Lease Rental R_4

Future Minimum Lease Rental Receipts - Future Minimum Rental Receipts (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($)
Future Minimum Base Rentals
2024	$ 603,197
2025	496,486
2026	396,251
2027	309,999
2028	225,451
Thereafter	700,681
Total future minimum base rentals	$ 2,732,065
Maximum term of residential leases not included in total future minimum base rentals	1 year

Commitments, Contingencies an_2

Commitments, Contingencies and Guarantees - Narrative (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2023 USD ($) ft² building property apartment	Jun. 30, 2023 USD ($)	Dec. 31, 2022 USD ($)
Other Commitments [Line Items]
Number of buildings containing asbestos | building	33
Principal balance	$ 5,570,040		$ 5,220,902
Subsidiaries
Other Commitments [Line Items]
Principal balance	3,760,040		3,410,902
Secured Debt | Fannie Mae Loan - June 1, 2027 Maturity | Subsidiaries
Other Commitments [Line Items]
Maximum future payments under swap agreement	175,000
Principal balance	$ 550,000		$ 550,000
Maturity date	Jun. 01, 2027
Secured Debt | Fannie Mae Loan - June 1, 2029 Maturity | Subsidiaries
Other Commitments [Line Items]
Maximum future payments under swap agreement		$ 210,000
Secured Debt | SOFR
Other Commitments [Line Items]
Loan agreement SOFR floor	0
Secured Debt | SOFR | Fannie Mae Loan - June 1, 2027 Maturity | Subsidiaries
Other Commitments [Line Items]
Variable Interest Rate	1.48%
Partnership X
Other Commitments [Line Items]
Maximum future payments under swap agreement	$ 2,700
Partnership X | Floating rate term loan
Other Commitments [Line Items]
Principal balance	$ 115,000
Maturity date	Sep. 14, 2028
Loan agreement SOFR floor	0
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. 01, 2026
Partnership X | Floating rate term loan | SOFR
Other Commitments [Line Items]
Variable Interest Rate	1.46%
Repositionings, Capital Expenditure Projects, And Tenant Improvements
Other Commitments [Line Items]
Aggregate remaining contractual commitment	$ 12,700
Development Projects
Other Commitments [Line Items]
Aggregate remaining contractual commitment	$ 17,900
Development Projects | Hawaii
Other Commitments [Line Items]
Retail square footage (sq ft) | ft²	493
Number of apartments under construction | apartment	493

Schedule III - Consolidated R_2

Schedule III - Consolidated Real Estate and Accumulated Depreciation and Amortization - By Property (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021	Dec. 31, 2020
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	$ 5,570,040
Initial Cost
Land	898,700
Buildings & Improvements	6,922,385
Cost Capitalized Subsequent to Acquisition
Improvements	4,584,729
Gross Carrying Amount
Land	1,185,977
Building and Improvements	11,219,837
Total	12,405,814	$ 12,292,973	$ 11,819,077	$ 11,678,638
Accumulated Depreciation & Amortization	3,652,630	$ 3,299,365	$ 3,028,645	$ 2,816,193
Aggregate federal income tax cost basis for consolidated real estate	8,790,000
Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,570,040
Initial Cost
Land	898,700
Buildings & Improvements	6,922,385
Cost Capitalized Subsequent to Acquisition
Improvements	4,528,290
Gross Carrying Amount
Land	1,185,977
Building and Improvements	11,163,398
Total	12,349,375
Accumulated Depreciation & Amortization	3,652,630
Property Under Development
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Buildings & Improvements	0
Cost Capitalized Subsequent to Acquisition
Improvements	56,439
Gross Carrying Amount
Land	0
Building and Improvements	56,439
Total	56,439
Accumulated Depreciation & Amortization	0
100 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	252,034
Initial Cost
Land	12,769
Buildings & Improvements	78,447
Cost Capitalized Subsequent to Acquisition
Improvements	158,133
Gross Carrying Amount
Land	27,108
Building and Improvements	222,241
Total	249,349
Accumulated Depreciation & Amortization	95,152
233 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	62,962
Initial Cost
Land	9,263
Buildings & Improvements	130,426
Cost Capitalized Subsequent to Acquisition
Improvements	4,116
Gross Carrying Amount
Land	9,263
Building and Improvements	134,542
Total	143,805
Accumulated Depreciation & Amortization	27,389
401 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	9,989
Buildings & Improvements	29,187
Cost Capitalized Subsequent to Acquisition
Improvements	130,718
Gross Carrying Amount
Land	21,787
Building and Improvements	148,107
Total	169,894
Accumulated Depreciation & Amortization	62,030
429 Santa Monica | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	33,691
Initial Cost
Land	4,949
Buildings & Improvements	72,534
Cost Capitalized Subsequent to Acquisition
Improvements	4,163
Gross Carrying Amount
Land	4,949
Building and Improvements	76,697
Total	81,646
Accumulated Depreciation & Amortization	15,471
1132 Bishop Place | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	8,317
Buildings & Improvements	105,651
Cost Capitalized Subsequent to Acquisition
Improvements	(53,704)
Gross Carrying Amount
Land	8,833
Building and Improvements	51,431
Total	60,264
Accumulated Depreciation & Amortization	28,334
1299 Ocean | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	124,699
Initial Cost
Land	22,748
Buildings & Improvements	265,198
Cost Capitalized Subsequent to Acquisition
Improvements	26,151
Gross Carrying Amount
Land	22,748
Building and Improvements	291,349
Total	314,097
Accumulated Depreciation & Amortization	54,361
1901 Avenue of the Stars | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	193,502
Initial Cost
Land	18,514
Buildings & Improvements	131,752
Cost Capitalized Subsequent to Acquisition
Improvements	120,234
Gross Carrying Amount
Land	26,163
Building and Improvements	244,337
Total	270,500
Accumulated Depreciation & Amortization	110,421
2001 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	37,411
Initial Cost
Land	5,711
Buildings & Improvements	81,622
Cost Capitalized Subsequent to Acquisition
Improvements	5,183
Gross Carrying Amount
Land	5,711
Building and Improvements	86,805
Total	92,516
Accumulated Depreciation & Amortization	11,234
8383 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	175,314
Initial Cost
Land	18,004
Buildings & Improvements	328,118
Cost Capitalized Subsequent to Acquisition
Improvements	6,982
Gross Carrying Amount
Land	18,005
Building and Improvements	335,099
Total	353,104
Accumulated Depreciation & Amortization	45,936
8484 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	8,846
Buildings & Improvements	77,780
Cost Capitalized Subsequent to Acquisition
Improvements	16,073
Gross Carrying Amount
Land	8,846
Building and Improvements	93,853
Total	102,699
Accumulated Depreciation & Amortization	30,588
9100 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	142,264
Initial Cost
Land	13,455
Buildings & Improvements	258,329
Cost Capitalized Subsequent to Acquisition
Improvements	10,593
Gross Carrying Amount
Land	13,455
Building and Improvements	268,922
Total	282,377
Accumulated Depreciation & Amortization	36,440
9401 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	27,640
Initial Cost
Land	6,740
Buildings & Improvements	152,310
Cost Capitalized Subsequent to Acquisition
Improvements	19,745
Gross Carrying Amount
Land	6,740
Building and Improvements	172,055
Total	178,795
Accumulated Depreciation & Amortization	31,419
9601 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	16,597
Buildings & Improvements	54,774
Cost Capitalized Subsequent to Acquisition
Improvements	107,640
Gross Carrying Amount
Land	17,658
Building and Improvements	161,353
Total	179,011
Accumulated Depreciation & Amortization	74,988
9665 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	77,445
Initial Cost
Land	5,568
Buildings & Improvements	177,072
Cost Capitalized Subsequent to Acquisition
Improvements	23,600
Gross Carrying Amount
Land	5,568
Building and Improvements	200,672
Total	206,240
Accumulated Depreciation & Amortization	38,262
10880 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	207,712
Initial Cost
Land	29,995
Buildings & Improvements	437,514
Cost Capitalized Subsequent to Acquisition
Improvements	43,944
Gross Carrying Amount
Land	29,988
Building and Improvements	481,465
Total	511,453
Accumulated Depreciation & Amortization	105,658
10960 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	209,575
Initial Cost
Land	45,844
Buildings & Improvements	429,769
Cost Capitalized Subsequent to Acquisition
Improvements	33,896
Gross Carrying Amount
Land	45,852
Building and Improvements	463,657
Total	509,509
Accumulated Depreciation & Amortization	111,688
11777 San Vicente | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	44,412
Initial Cost
Land	5,032
Buildings & Improvements	15,768
Cost Capitalized Subsequent to Acquisition
Improvements	29,929
Gross Carrying Amount
Land	6,714
Building and Improvements	44,015
Total	50,729
Accumulated Depreciation & Amortization	20,477
12100 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	101,203
Initial Cost
Land	20,164
Buildings & Improvements	208,755
Cost Capitalized Subsequent to Acquisition
Improvements	9,848
Gross Carrying Amount
Land	20,164
Building and Improvements	218,603
Total	238,767
Accumulated Depreciation & Amortization	47,662
12400 Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	5,013
Buildings & Improvements	34,283
Cost Capitalized Subsequent to Acquisition
Improvements	75,936
Gross Carrying Amount
Land	8,828
Building and Improvements	106,404
Total	115,232
Accumulated Depreciation & Amortization	47,534
15250 Ventura | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	22,369
Initial Cost
Land	2,130
Buildings & Improvements	48,908
Cost Capitalized Subsequent to Acquisition
Improvements	3,577
Gross Carrying Amount
Land	2,130
Building and Improvements	52,485
Total	54,615
Accumulated Depreciation & Amortization	7,185
16000 Ventura | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	37,971
Initial Cost
Land	1,936
Buildings & Improvements	89,531
Cost Capitalized Subsequent to Acquisition
Improvements	3,760
Gross Carrying Amount
Land	1,936
Building and Improvements	93,291
Total	95,227
Accumulated Depreciation & Amortization	13,017
16501 Ventura | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	42,944
Initial Cost
Land	6,759
Buildings & Improvements	53,112
Cost Capitalized Subsequent to Acquisition
Improvements	13,658
Gross Carrying Amount
Land	6,759
Building and Improvements	66,770
Total	73,529
Accumulated Depreciation & Amortization	21,475
Beverly Hills Medical Center | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	46,180
Initial Cost
Land	4,955
Buildings & Improvements	27,766
Cost Capitalized Subsequent to Acquisition
Improvements	30,727
Gross Carrying Amount
Land	6,435
Building and Improvements	57,013
Total	63,448
Accumulated Depreciation & Amortization	26,513
Bishop Square | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	200,000
Initial Cost
Land	16,273
Buildings & Improvements	213,793
Cost Capitalized Subsequent to Acquisition
Improvements	59,004
Gross Carrying Amount
Land	16,273
Building and Improvements	272,797
Total	289,070
Accumulated Depreciation & Amortization	96,436
Brentwood Court | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	2,564
Buildings & Improvements	8,872
Cost Capitalized Subsequent to Acquisition
Improvements	1,329
Gross Carrying Amount
Land	2,563
Building and Improvements	10,202
Total	12,765
Accumulated Depreciation & Amortization	4,590
Brentwood Executive Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	3,255
Buildings & Improvements	9,654
Cost Capitalized Subsequent to Acquisition
Improvements	35,263
Gross Carrying Amount
Land	5,921
Building and Improvements	42,251
Total	48,172
Accumulated Depreciation & Amortization	19,056
Brentwood Medical Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	5,934
Buildings & Improvements	27,836
Cost Capitalized Subsequent to Acquisition
Improvements	2,144
Gross Carrying Amount
Land	5,933
Building and Improvements	29,981
Total	35,914
Accumulated Depreciation & Amortization	14,058
Brentwood San Vicente Medical | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	5,557
Buildings & Improvements	16,457
Cost Capitalized Subsequent to Acquisition
Improvements	3,062
Gross Carrying Amount
Land	5,557
Building and Improvements	19,519
Total	25,076
Accumulated Depreciation & Amortization	8,545
Brentwood/Saltair | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	4,468
Buildings & Improvements	11,615
Cost Capitalized Subsequent to Acquisition
Improvements	10,993
Gross Carrying Amount
Land	4,775
Building and Improvements	22,301
Total	27,076
Accumulated Depreciation & Amortization	9,881
Bundy/Olympic | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	4,201
Buildings & Improvements	11,860
Cost Capitalized Subsequent to Acquisition
Improvements	29,410
Gross Carrying Amount
Land	6,030
Building and Improvements	39,441
Total	45,471
Accumulated Depreciation & Amortization	17,904
Camden Medical Arts | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	42,276
Initial Cost
Land	3,102
Buildings & Improvements	12,221
Cost Capitalized Subsequent to Acquisition
Improvements	29,313
Gross Carrying Amount
Land	5,298
Building and Improvements	39,338
Total	44,636
Accumulated Depreciation & Amortization	18,025
Carthay Campus | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	6,595
Buildings & Improvements	70,454
Cost Capitalized Subsequent to Acquisition
Improvements	4,691
Gross Carrying Amount
Land	6,594
Building and Improvements	75,146
Total	81,740
Accumulated Depreciation & Amortization	22,069
Century Park Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	173,000
Initial Cost
Land	10,275
Buildings & Improvements	70,761
Cost Capitalized Subsequent to Acquisition
Improvements	140,797
Gross Carrying Amount
Land	16,153
Building and Improvements	205,680
Total	221,833
Accumulated Depreciation & Amortization	86,783
Century Park West | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	3,717
Buildings & Improvements	29,099
Cost Capitalized Subsequent to Acquisition
Improvements	463
Gross Carrying Amount
Land	3,667
Building and Improvements	29,612
Total	33,279
Accumulated Depreciation & Amortization	14,210
Columbus Center | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	2,096
Buildings & Improvements	10,396
Cost Capitalized Subsequent to Acquisition
Improvements	11,215
Gross Carrying Amount
Land	2,333
Building and Improvements	21,374
Total	23,707
Accumulated Depreciation & Amortization	9,303
Coral Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	4,028
Buildings & Improvements	15,019
Cost Capitalized Subsequent to Acquisition
Improvements	18,947
Gross Carrying Amount
Land	5,366
Building and Improvements	32,628
Total	37,994
Accumulated Depreciation & Amortization	15,212
Cornerstone Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	8,245
Buildings & Improvements	80,633
Cost Capitalized Subsequent to Acquisition
Improvements	6,550
Gross Carrying Amount
Land	8,263
Building and Improvements	87,165
Total	95,428
Accumulated Depreciation & Amortization	36,889
Encino Gateway | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	8,475
Buildings & Improvements	48,525
Cost Capitalized Subsequent to Acquisition
Improvements	54,335
Gross Carrying Amount
Land	15,653
Building and Improvements	95,682
Total	111,335
Accumulated Depreciation & Amortization	44,481
Encino Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	5,293
Buildings & Improvements	23,125
Cost Capitalized Subsequent to Acquisition
Improvements	50,097
Gross Carrying Amount
Land	6,165
Building and Improvements	72,350
Total	78,515
Accumulated Depreciation & Amortization	33,521
Encino Terrace | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	105,565
Initial Cost
Land	12,535
Buildings & Improvements	59,554
Cost Capitalized Subsequent to Acquisition
Improvements	101,103
Gross Carrying Amount
Land	15,533
Building and Improvements	157,659
Total	173,192
Accumulated Depreciation & Amortization	71,772
Executive Tower | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	6,660
Buildings & Improvements	32,045
Cost Capitalized Subsequent to Acquisition
Improvements	57,802
Gross Carrying Amount
Land	9,471
Building and Improvements	87,036
Total	96,507
Accumulated Depreciation & Amortization	39,919
First Financial Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	54,077
Initial Cost
Land	12,092
Buildings & Improvements	81,104
Cost Capitalized Subsequent to Acquisition
Improvements	6,425
Gross Carrying Amount
Land	12,092
Building and Improvements	87,529
Total	99,621
Accumulated Depreciation & Amortization	23,667
Gateway Los Angeles | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	2,376
Buildings & Improvements	15,302
Cost Capitalized Subsequent to Acquisition
Improvements	63,580
Gross Carrying Amount
Land	5,119
Building and Improvements	76,139
Total	81,258
Accumulated Depreciation & Amortization	29,020
Harbor Court | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	51
Buildings & Improvements	41,001
Cost Capitalized Subsequent to Acquisition
Improvements	54,054
Gross Carrying Amount
Land	12,060
Building and Improvements	83,046
Total	95,106
Accumulated Depreciation & Amortization	34,709
Landmark II | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	6,086
Buildings & Improvements	109,259
Cost Capitalized Subsequent to Acquisition
Improvements	69,288
Gross Carrying Amount
Land	13,070
Building and Improvements	171,563
Total	184,633
Accumulated Depreciation & Amortization	79,816
Lincoln/Wilshire | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	3,833
Buildings & Improvements	12,484
Cost Capitalized Subsequent to Acquisition
Improvements	26,816
Gross Carrying Amount
Land	7,475
Building and Improvements	35,658
Total	43,133
Accumulated Depreciation & Amortization	15,044
MB Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	4,533
Buildings & Improvements	22,024
Cost Capitalized Subsequent to Acquisition
Improvements	34,089
Gross Carrying Amount
Land	7,503
Building and Improvements	53,143
Total	60,646
Accumulated Depreciation & Amortization	24,970
Olympic Center | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	52,000
Initial Cost
Land	5,473
Buildings & Improvements	22,850
Cost Capitalized Subsequent to Acquisition
Improvements	34,945
Gross Carrying Amount
Land	8,247
Building and Improvements	55,021
Total	63,268
Accumulated Depreciation & Amortization	25,850
One Westwood | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	10,350
Buildings & Improvements	29,784
Cost Capitalized Subsequent to Acquisition
Improvements	66,421
Gross Carrying Amount
Land	9,194
Building and Improvements	97,361
Total	106,555
Accumulated Depreciation & Amortization	43,673
Palisades Promenade | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	60,318
Initial Cost
Land	5,253
Buildings & Improvements	15,547
Cost Capitalized Subsequent to Acquisition
Improvements	53,185
Gross Carrying Amount
Land	9,664
Building and Improvements	64,321
Total	73,985
Accumulated Depreciation & Amortization	30,252
Saltair/San Vicente | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	21,533
Initial Cost
Land	5,075
Buildings & Improvements	6,946
Cost Capitalized Subsequent to Acquisition
Improvements	18,056
Gross Carrying Amount
Land	7,557
Building and Improvements	22,520
Total	30,077
Accumulated Depreciation & Amortization	10,470
San Vicente Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	7,055
Buildings & Improvements	12,035
Cost Capitalized Subsequent to Acquisition
Improvements	581
Gross Carrying Amount
Land	7,055
Building and Improvements	12,616
Total	19,671
Accumulated Depreciation & Amortization	5,926
Santa Monica Square | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	48,500
Initial Cost
Land	5,366
Buildings & Improvements	18,025
Cost Capitalized Subsequent to Acquisition
Improvements	21,856
Gross Carrying Amount
Land	6,863
Building and Improvements	38,384
Total	45,247
Accumulated Depreciation & Amortization	17,536
Second Street Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	4,377
Buildings & Improvements	15,277
Cost Capitalized Subsequent to Acquisition
Improvements	35,705
Gross Carrying Amount
Land	7,421
Building and Improvements	47,938
Total	55,359
Accumulated Depreciation & Amortization	22,646
Sherman Oaks Galleria | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	300,000
Initial Cost
Land	33,213
Buildings & Improvements	17,820
Cost Capitalized Subsequent to Acquisition
Improvements	429,060
Gross Carrying Amount
Land	48,328
Building and Improvements	431,765
Total	480,093
Accumulated Depreciation & Amortization	193,263
Studio Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	9,347
Buildings & Improvements	73,358
Cost Capitalized Subsequent to Acquisition
Improvements	122,286
Gross Carrying Amount
Land	15,015
Building and Improvements	189,976
Total	204,991
Accumulated Depreciation & Amortization	91,959
The Tower | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	67,064
Initial Cost
Land	9,643
Buildings & Improvements	160,602
Cost Capitalized Subsequent to Acquisition
Improvements	7,104
Gross Carrying Amount
Land	9,643
Building and Improvements	167,706
Total	177,349
Accumulated Depreciation & Amortization	37,443
The Trillium | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	20,688
Buildings & Improvements	143,263
Cost Capitalized Subsequent to Acquisition
Improvements	85,673
Gross Carrying Amount
Land	21,989
Building and Improvements	227,635
Total	249,624
Accumulated Depreciation & Amortization	101,297
Valley Executive Tower | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	104,000
Initial Cost
Land	8,446
Buildings & Improvements	67,672
Cost Capitalized Subsequent to Acquisition
Improvements	110,841
Gross Carrying Amount
Land	11,737
Building and Improvements	175,222
Total	186,959
Accumulated Depreciation & Amortization	77,859
Valley Office Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	5,731
Buildings & Improvements	24,329
Cost Capitalized Subsequent to Acquisition
Improvements	49,352
Gross Carrying Amount
Land	8,957
Building and Improvements	70,455
Total	79,412
Accumulated Depreciation & Amortization	33,085
Verona | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	2,574
Buildings & Improvements	7,111
Cost Capitalized Subsequent to Acquisition
Improvements	15,934
Gross Carrying Amount
Land	5,111
Building and Improvements	20,508
Total	25,619
Accumulated Depreciation & Amortization	9,327
Village on Canon | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	61,745
Initial Cost
Land	5,933
Buildings & Improvements	11,389
Cost Capitalized Subsequent to Acquisition
Improvements	50,822
Gross Carrying Amount
Land	13,303
Building and Improvements	54,841
Total	68,144
Accumulated Depreciation & Amortization	24,206
Warner Center Towers | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	335,000
Initial Cost
Land	43,110
Buildings & Improvements	292,147
Cost Capitalized Subsequent to Acquisition
Improvements	415,784
Gross Carrying Amount
Land	59,418
Building and Improvements	691,623
Total	751,041
Accumulated Depreciation & Amortization	316,269
Warner Corporate Center | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	34,671
Initial Cost
Land	11,035
Buildings & Improvements	65,799
Cost Capitalized Subsequent to Acquisition
Improvements	2,245
Gross Carrying Amount
Land	11,035
Building and Improvements	68,044
Total	79,079
Accumulated Depreciation & Amortization	10,136
Westside Towers | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	141,915
Initial Cost
Land	8,506
Buildings & Improvements	79,532
Cost Capitalized Subsequent to Acquisition
Improvements	80,815
Gross Carrying Amount
Land	14,568
Building and Improvements	154,285
Total	168,853
Accumulated Depreciation & Amortization	69,506
Westwood Center | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	140,648
Initial Cost
Land	9,512
Buildings & Improvements	259,341
Cost Capitalized Subsequent to Acquisition
Improvements	20,053
Gross Carrying Amount
Land	9,513
Building and Improvements	279,393
Total	288,906
Accumulated Depreciation & Amortization	63,870
Westwood Place | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	71,000
Initial Cost
Land	8,542
Buildings & Improvements	44,419
Cost Capitalized Subsequent to Acquisition
Improvements	69,450
Gross Carrying Amount
Land	11,448
Building and Improvements	110,963
Total	122,411
Accumulated Depreciation & Amortization	42,369
555 Barrington | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	50,000
Initial Cost
Land	6,461
Buildings & Improvements	27,639
Cost Capitalized Subsequent to Acquisition
Improvements	42,765
Gross Carrying Amount
Land	14,903
Building and Improvements	61,962
Total	76,865
Accumulated Depreciation & Amortization	28,520
1221 Ocean Avenue | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	175,000
Initial Cost
Land	22,086
Buildings & Improvements	328,545
Cost Capitalized Subsequent to Acquisition
Improvements	2,281
Gross Carrying Amount
Land	22,086
Building and Improvements	330,826
Total	352,912
Accumulated Depreciation & Amortization	19,864
Barrington Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	210,000
Initial Cost
Land	28,568
Buildings & Improvements	81,485
Cost Capitalized Subsequent to Acquisition
Improvements	146,318
Gross Carrying Amount
Land	58,208
Building and Improvements	198,163
Total	256,371
Accumulated Depreciation & Amortization	172,603
Barrington/Kiowa | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	13,940
Initial Cost
Land	5,720
Buildings & Improvements	10,052
Cost Capitalized Subsequent to Acquisition
Improvements	1,374
Gross Carrying Amount
Land	5,720
Building and Improvements	11,426
Total	17,146
Accumulated Depreciation & Amortization	5,242
Barry | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	11,370
Initial Cost
Land	6,426
Buildings & Improvements	8,179
Cost Capitalized Subsequent to Acquisition
Improvements	912
Gross Carrying Amount
Land	6,426
Building and Improvements	9,091
Total	15,517
Accumulated Depreciation & Amortization	4,291
Kiowa | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	5,470
Initial Cost
Land	2,605
Buildings & Improvements	3,263
Cost Capitalized Subsequent to Acquisition
Improvements	1,029
Gross Carrying Amount
Land	2,605
Building and Improvements	4,292
Total	6,897
Accumulated Depreciation & Amortization	1,882
Moanalua Hillside Apartments | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	255,000
Initial Cost
Land	24,791
Buildings & Improvements	157,353
Cost Capitalized Subsequent to Acquisition
Improvements	127,801
Gross Carrying Amount
Land	35,365
Building and Improvements	274,580
Total	309,945
Accumulated Depreciation & Amortization	77,010
The Residences at Bishop Place | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	110,000
Initial Cost
Land	0
Buildings & Improvements	0
Cost Capitalized Subsequent to Acquisition
Improvements	180,347
Gross Carrying Amount
Land	0
Building and Improvements	180,347
Total	180,347
Accumulated Depreciation & Amortization	13,670
Pacific Plaza | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	78,000
Initial Cost
Land	10,091
Buildings & Improvements	16,159
Cost Capitalized Subsequent to Acquisition
Improvements	77,762
Gross Carrying Amount
Land	27,816
Building and Improvements	76,196
Total	104,012
Accumulated Depreciation & Amortization	33,242
The Glendon | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	160,000
Initial Cost
Land	32,773
Buildings & Improvements	335,925
Cost Capitalized Subsequent to Acquisition
Improvements	287
Gross Carrying Amount
Land	32,775
Building and Improvements	336,210
Total	368,985
Accumulated Depreciation & Amortization	40,214
The Landmark Los Angeles | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	240,000
Initial Cost
Land	0
Buildings & Improvements	0
Cost Capitalized Subsequent to Acquisition
Improvements	331,693
Gross Carrying Amount
Land	13,070
Building and Improvements	318,623
Total	331,693
Accumulated Depreciation & Amortization	11,881
The Shores | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	212,000
Initial Cost
Land	20,809
Buildings & Improvements	74,191
Cost Capitalized Subsequent to Acquisition
Improvements	207,358
Gross Carrying Amount
Land	60,555
Building and Improvements	241,803
Total	302,358
Accumulated Depreciation & Amortization	105,926
Villas at Royal Kunia | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	94,220
Initial Cost
Land	42,887
Buildings & Improvements	71,376
Cost Capitalized Subsequent to Acquisition
Improvements	18,258
Gross Carrying Amount
Land	35,163
Building and Improvements	97,358
Total	132,521
Accumulated Depreciation & Amortization	48,499
Waena Apartments | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	102,400
Initial Cost
Land	26,864
Buildings & Improvements	119,273
Cost Capitalized Subsequent to Acquisition
Improvements	2,540
Gross Carrying Amount
Land	26,864
Building and Improvements	121,813
Total	148,677
Accumulated Depreciation & Amortization	29,695
Owensmouth/Warner | Operating Property
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	23,848
Buildings & Improvements	0
Cost Capitalized Subsequent to Acquisition
Improvements	1,725
Gross Carrying Amount
Land	23,848
Building and Improvements	1,725
Total	25,573
Accumulated Depreciation & Amortization	35
The Residences at Bishop Place | Property Under Development
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances	0
Initial Cost
Land	0
Buildings & Improvements	0
Cost Capitalized Subsequent to Acquisition
Improvements	3,037
Gross Carrying Amount
Land	0
Building and Improvements	3,037
Total	3,037
Accumulated Depreciation & Amortization
Other Developments | Property Under Development
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation [Line Items]
Encumbrances
Initial Cost
Land
Buildings & Improvements
Cost Capitalized Subsequent to Acquisition
Improvements	53,402
Gross Carrying Amount
Land
Building and Improvements	53,402
Total	53,402
Accumulated Depreciation & Amortization

Schedule III - Consolidated R_3

Schedule III - Consolidated Real Estate and Accumulated Depreciation and Amortization - Reconciliation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Investment in real estate, gross
Beginning balance	$ 12,292,973	$ 11,819,077	$ 11,678,638
Property acquisitions	0	350,631	0
Improvements and developments	214,955	223,315	297,764
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	(102,114)	(100,050)	(157,325)
Ending balance	12,405,814	12,292,973	11,819,077
Accumulated depreciation and amortization
Beginning balance	(3,299,365)	(3,028,645)	(2,816,193)
Depreciation and amortization	(459,949)	(372,798)	(371,289)
Other accumulated depreciation and amortization	4,570	2,028	1,512
Removal of fully depreciated and amortized buildings, building improvements, tenant improvements and lease intangibles	102,114	100,050	157,325
Ending balance	(3,652,630)	(3,299,365)	(3,028,645)
Investment in real estate, net	$ 8,753,184	$ 8,993,608	$ 8,790,432