As of June 30, 2019, our portfolio consists of 56 properties, including six properties held through our consolidated and unconsolidated joint ventures. As such, we believe it is valuable to present certain financial information based on the “Company’s Share” of these measures, which are non-GAAP financial measures that are calculated as the consolidated amount calculated in accordance with GAAP, plus our share of the amount from the our unconsolidated joint ventures (calculated based upon our percentage ownership interest), minus our partners’ share of the amount from our consolidated joint ventures (calculated based upon the partners’ percentage ownership interests). Financial information presented as “Company’s Share” is calculated on a property-by-property basis by applying our percentage economic interest to each applicable line item of that property’s financial information. “Company’s Share” information is not, and is not intended to be, a presentation in accordance with GAAP. We believe that presenting “Company’s Share” of these measures provides useful information regarding the our financial condition and/or results of operations because we have several significant joint ventures, and in some cases exercise significant influence over, but do not control, the joint venture, in which case GAAP requires that we account for the joint venture entity using the equity method of accounting and we do not consolidate it for financial reporting purposes. In other cases, GAAP requires that we consolidate the joint venture even though our partner(s) owns a significant percentage interest. We do not control the unconsolidated joint ventures and do not have a legal claim to our joint venture partners’ share of assets, liabilities, revenue and expenses. Because a substantial portion of our properties are held through joint ventures, we believe this form of presentation, which presents our economic interests in our overall portfolio, provides investors valuable information regarding our portfolio, its composition, performance and capitalization.
As of June 30, 2019, we own the following properties through consolidated joint ventures: (1) 1455 Market, (2) Hill7, (3) 10850 Pico, (4) One Westside and (5) the Ferry Building. All of information in this paragraph regarding our joint ventures is as of June 30, 2019. 1455 Market consists of 1,034,977 square feet with an annualized base rent of $50.8 million and we own 55% of the joint venture. Hill7 consists of 285,310 square feet with an annualized base rent of $10.9 million and we own 55% of the joint venture. Hill7 is encumbered by $101.0 million of indebtedness at an interest rate of 3.38% until November 6, 2026 at which time the interest rate will increase monthly and debt service will include principal payments with a balloon payment at maturity, which is November 6, 2028. One Westside and 10850 Pico are held by a consolidated joint venture of which we own 75% and is subject to in-substance defeased debt of $136.6 million at an interest rate of 4.47% with a maturity date of October 1, 2022. 10850 Pico consists of 95,987 square feet with an annualized base rent of $2.6 million and One Westside is currently undergoing redevelopment with an estimated square feet of 584,000. The Ferry Building consists of 268,018 square feet with an annualized base rent of $24.5 million and is encumbered by $66.1 million of debt with an interest rate of 4.50% and a maturity date of October 9, 2028 that is attributable to our joint venture partner. We own 55% of the Ferry Building joint venture.
Our sixth joint venture, the Bentall Centre property, is held through an unconsolidated joint venture of which we own 20% and, as of June 30, 2019, consists of 1,455,007 square feet with an annualized base rent of $35.4 million. The Bentall Centre property is encumbered by CAN$ 630.0 million of debt at an interest rate of LIBOR plus 175 basis points with a maturity date of July 1, 2024.