Organization, Ownership and Basis of Presentation (Tables)

9 Months Ended

Sep. 30, 2019

Organization, Consolidation and Presentation of Financial Statements [Abstract]

Summary of real estate properties

As of September 30, 2019, the following properties were excluded from our stabilized portfolio. We did not have any redevelopment properties at September 30, 2019.

	Number of Properties/Projects	Estimated Rentable Square Feet (1) / Units
Properties held for sale (2)	1	271,556
Completed residential development project (3)	1	237 units
In-process development projects - tenant improvement (4)	2	846,000
In-process development projects - under construction (5)	6	2,295,000

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(1) Estimated rentable square feet upon completion.

(2) See Note 3 “Dispositions and Real Estate Held for Sale” for additional information.

(3) Represents our recently completed residential units that are not yet stabilized.

(4) Includes 96,000 square feet of retail space.

(5) In addition to the estimated office rentable square feet noted above, development projects under construction also include 564 residential units.

Our stabilized portfolio of operating properties was comprised of the following properties at September 30, 2019:

	Number of Buildings	Rentable Square Feet	Number of Tenants	Percentage  Occupied		Percentage Leased
Stabilized Office Properties	93	13,322,212	438	92.1	%	97.3	%

	Number of Buildings	Number of Units	2019 Average Occupancy
Stabilized Residential Property	1	200	78.5	%

Schedule of allocation of rental income between fixed and variable payments

The table below sets forth the allocation of rental income between fixed and variable payments for the three and nine months ended September 30, 2019:

	Three Months Ended		Nine Months Ended
	September 30, 2019		September 30, 2019
	(in thousands)
Fixed lease payments	$	181,851	$	526,678
Variable lease payments	30,470		82,654
Total rental income	$	212,321	$	609,332