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Investments in Unconsolidated Joint Ventures (Tables)
 9 Months Ended
Sep. 30, 2014
Investments In Unconsolidated Joint Ventures [Abstract]  
Investments In Unconsolidated Joint Ventures
The investments in unconsolidated joint ventures consist of the following at September 30, 2014:
 
Entity
 
Properties
 
Nominal %
Ownership
 
 
 
Carrying Value of Investment
 
 
 
 
 
 
 
 
 
(in thousands)
 
Square 407 Limited Partnership
 
Market Square North
 
50.0
%
 
 
 
$
(8,540
)
 
The Metropolitan Square Associates LLC
 
Metropolitan Square
 
51.0
%
 
 
 
8,343

 
BP/CRF 901 New York Avenue LLC
 
901 New York Avenue
 
25.0
%
 
(1) 
 
(1,436
)
 
WP Project Developer LLC
 
Wisconsin Place Land and Infrastructure
 
33.3
%
 
(2) 
 
46,011

 
Annapolis Junction NFM, LLC
 
Annapolis Junction
 
50.0
%
 
(3) 
 
24,484

 
2 GCT Venture LLC
 
N/A
 
60.0
%
 
(4) 
 
424

 
540 Madison Venture LLC
 
540 Madison Avenue
 
60.0
%
 
 
 
70,418

 
500 North Capitol LLC
 
500 North Capitol Street, NW
 
30.0
%
 
 
 
(1,467
)
 
501 K Street LLC
 
501 K Street
 
50.0
%
 
(5) 
 
41,912

 
 
 
 
 
 
 
 
 
$
180,149

 
 _______________
(1)
The Company’s economic ownership has increased based on the achievement of certain return thresholds.
(2)
The Company’s wholly-owned entity that owns the office component of the project also owns a 33.3% interest in the entity owning the land, parking garage and infrastructure of the project.
(3)
The joint venture owns two in-service buildings, two buildings under construction and two undeveloped land parcels.
(4)
Two Grand Central Tower was sold on October 25, 2011.
(5)
Under the joint venture agreement, the partner will be entitled to up to two additional payments from the venture based on increases in total square footage of the project above 520,000 square feet and achieving certain project returns at stabilization.

Schedule Of Balance Sheets Of The Unconsolidated Joint Ventures [Text Block]
The combined summarized balance sheets of the Company's unconsolidated joint ventures are as follows:
 
 
September 30,
2014
 
December 31,
2013
 
(in thousands)
ASSETS
 
 
 
Real estate and development in process, net
$
1,014,663

 
$
924,297

Other assets
182,905

 
163,149

Total assets
$
1,197,568

 
$
1,087,446

LIABILITIES AND MEMBERS’/PARTNERS’ EQUITY
 
 
 
Mortgage and notes payable
$
753,692

 
$
749,732

Other liabilities
23,180

 
28,830

Members’/Partners’ equity
420,696

 
308,884

Total liabilities and members’/partners’ equity
$
1,197,568

 
$
1,087,446

Company’s share of equity
$
208,125

 
$
154,726

Basis differentials (1)
(27,976
)
 
(28,642
)
Carrying value of the Company’s investments in unconsolidated joint ventures
$
180,149

 
$
126,084

 _______________
(1)
This amount represents the aggregate difference between the Company’s historical cost basis and the basis reflected at the joint venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from impairment of investments and upon the transfer of assets that were previously owned by the Company into a joint venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the joint venture level.
Statements Of Operations Of The Joint Ventures
The combined summarized statements of operations of the Company's unconsolidated joint ventures are as follows:
 
 
For the three months ended September 30,
 
For the nine months ended September 30,
 
2014
 
2013
 
2014
 
2013
 
(in thousands)
Total revenue (1)
$
41,958

 
$
37,983

 
$
118,429

 
$
273,464

Expenses
 
 
 
 
 
 
 
Operating
15,516

 
14,963

 
46,441

 
89,826

Depreciation and amortization
9,429

 
9,784

 
27,688

 
76,202

Total expenses
24,945

 
24,747

 
74,129

 
166,028

Operating income
17,013

 
13,236

 
44,300

 
107,436

Other expense
 
 
 
 
 
 
 
Interest expense
7,950

 
8,148

 
23,946

 
104,436

Losses from early extinguishment of debt
—

 
—

 
—

 
1,677

Income from continuing operations
9,063

 
5,088

 
20,354

 
1,323

Gains on sales of real estate
—

 
12,441

 
—

 
14,207

Net income
$
9,063

 
$
17,529

 
$
20,354

 
$
15,530

 
 
 
 
 
 
 
 
Company’s share of net income
$
4,200

 
$
3,149

 
$
9,403

 
$
1,974

Gains on sales of real estate
—

 
11,174

 
—

 
54,501

Basis differential
219

 
413

 
666

 
(1,213
)
Elimination of inter-entity interest on partner loan
—

 
—

 
—

 
16,978

Income from unconsolidated joint ventures
$
4,419

 
$
14,736

 
$
10,069

 
$
72,240

 
 
 
 
 
 
 
 
Gains on consolidation of joint ventures
$
—

 
$
(1,810
)
 
$
—

 
$
385,991

 _______________ 
(1)
Includes straight-line rent adjustments of $0.2 million and $0.6 million for the three months ended September 30, 2014 and 2013, respectively, and $1.1 million and $7.6 million for the nine months ended September 30, 2014 and 2013, respectively. Includes net below-market rent adjustments of $(0.1) million and $(0.1) million for the three months ended September 30, 2014 and 2013, respectively, and $(0.1) million and $33.9 million for the nine months ended September 30, 2014 and 2013, respectively.