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Debt (Details) (USD $)
6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended
Jun. 30, 2014
period
Dec. 31, 2013
Jun. 30, 2014
Secured Debt [Member]
Dec. 31, 2013
Secured Debt [Member]
Jun. 30, 2014
Unsecured Debt [Member]
Dec. 31, 2013
Unsecured Debt [Member]
Jun. 30, 2014
Mortgage Note $200 Million [Member]
Secured Debt [Member]
Dec. 31, 2013
Mortgage Note $200 Million [Member]
Secured Debt [Member]
Jun. 30, 2014
Mortgage Note $25 Million [Member]
Secured Debt [Member]
Dec. 31, 2013
Mortgage Note $25 Million [Member]
Secured Debt [Member]
Jun. 30, 2014
Secured Pooled Facility [Member]
Secured Debt [Member]
property
Dec. 31, 2013
Secured Pooled Facility [Member]
Secured Debt [Member]
Jun. 30, 2014
Fixed-Rate $105 Million Loan [Member]
Secured Debt [Member]
Dec. 31, 2013
Fixed-Rate $105 Million Loan [Member]
Secured Debt [Member]
Jun. 30, 2014
Fixed-Rate $125 Million Loan [Member]
Secured Debt [Member]
property
Dec. 31, 2013
Fixed-Rate $125 Million Loan [Member]
Secured Debt [Member]
Jun. 30, 2014
Fixed-Rate $42.5 Million Loan [Member]
Secured Debt [Member]
Dec. 31, 2013
Fixed-Rate $42.5 Million Loan [Member]
Secured Debt [Member]
Jun. 30, 2014
WDC Mortgage Notes $140 Million[Member]
Secured Debt [Member]
Dec. 31, 2013
WDC Mortgage Notes $140 Million[Member]
Secured Debt [Member]
Jun. 30, 2014
Mortgage Loan Maturing September 1, 2021 [Member]
Secured Debt [Member]
Jun. 27, 2014
Mortgage Loan Maturing September 1, 2021 [Member]
Secured Debt [Member]
Dec. 31, 2013
Mortgage Loan Maturing September 1, 2021 [Member]
Secured Debt [Member]
Jun. 30, 2014
$300 Million 2011 Unsecured Term Loan Maturing 2016 [Member]
Unsecured Debt [Member]
Dec. 31, 2013
$300 Million 2011 Unsecured Term Loan Maturing 2016 [Member]
Unsecured Debt [Member]
Jun. 30, 2014
$300 Million 2011 Unsecured Term Loan Maturing 2016 [Member]
Unsecured Debt [Member]
Interest Rate Swap [Member]
Jun. 30, 2014
$500 Million Unsecured Line of Credit [Member]
Unsecured Debt [Member]
Dec. 31, 2013
$500 Million Unsecured Line of Credit [Member]
Unsecured Debt [Member]
Jun. 30, 2014
$500 Million Unsecured Line of Credit [Member]
Unsecured Debt [Member]
LIBOR [Member]
Jun. 30, 2014
$350 Million Senior Notes [Member]
Senior Notes [Member]
Dec. 31, 2013
$350 Million Senior Notes [Member]
Senior Notes [Member]
Jun. 30, 2014
Unsecured 300 million 2013 Term Loan Maturing 2019 [Member]
Unsecured Debt [Member]
Dec. 31, 2013
Unsecured 300 million 2013 Term Loan Maturing 2019 [Member]
Unsecured Debt [Member]
Jun. 30, 2014
Unsecured 300 million 2013 Term Loan Maturing 2019 [Member]
Unsecured Debt [Member]
Interest Rate Swap [Member]
Jun. 30, 2014
2014 Senior Notes [Member]
Senior Notes [Member]
Dec. 31, 2013
2014 Senior Notes [Member]
Senior Notes [Member]
Debt Instrument [Line Items]                                                                        
Face amount of debt instrument             $ 200,000,000   $ 25,000,000   $ 350,000,000 $ 350,000,000 $ 105,000,000   $ 125,000,000   $ 42,500,000.0   $ 140,000,000   $ 35,000,000 $ 35,000,000.0   $ 300,000,000     $ 500,000,000     $ 350,000,000   $ 300,000,000     $ 400,000,000  
Borrowing capacity of line of credit                                                     500,000,000                  
Rate             4.87% [1]   5.70% [1]   4.84% [1],[2]   5.29% [1]   5.50% [1],[3]   5.70% [1]   5.76% [1]   5.55% [1],[4]                 3.40% [1],[5]         4.45% [1],[6]  
Weighted Average Rate 3.49% [1],[7]   5.55% [1],[7]   2.94% [1],[7]                                                              
Line of credit, effective interest rate                                                     1.34% [1],[8]                  
Amount Outstanding 2,107,085,000 [7] 2,002,205,000 [7] 449,677,000 [7] 987,525,000 [7] 1,657,408,000 [7] 1,014,680,000 [7] 0 200,000,000 0 25,000,000 0 350,000,000 105,000,000 105,000,000 125,000,000 125,000,000 42,525,000 42,525,000 140,000,000 140,000,000 37,152,000   0 300,000,000 300,000,000   312,000,000 [9] 366,000,000 [9]   348,741,000 348,680,000 300,000,000 0   396,667,000 0
Number of properties in collateralized pool                     9       4                                          
Effective interest rate                                         3.75%         2.69%       3.45%       2.79% 4.48%  
Basis spread on variable rate                                               1.45% [1],[10]         1.175%     1.20% [1],[11]        
LIBOR rate in effect                                                     0.16%                  
Maximum extension period 1 year                                                                      
Number of extension periods 2                                                                      
Extension period 6 months                                                                      
Effective interest rate                                                           3.43%         4.10%  
Total notional value $ 500,000,000                                             $ 300,000,000               $ 200,000,000        
[1] All of Piedmont’s outstanding debt as of June 30, 2014 and December 31, 2013 was interest-only debt, except for the amortizing mortgage loan assumed in conjunction with the purchase of the 5 Wall Street building.
[2] Nine property collateralized pool, which was repaid in full on March 7, 2014, included: 1200 Crown Colony Drive, Braker Pointe III, 2 Gatehall Drive, One and Two Independence Square, 2120 West End Avenue, 400 Bridgewater Crossing, 200 Bridgewater Crossing, and Fairway Center II.
[3] Four property collateralized pool includes 1430 Enclave Parkway, Windy Point I and II, and 1055 East Colorado Boulevard.
[4] The $35 Million Mortgage Note has a fixed rate of 5.55%, however, upon acquiring the mortgage note, it was marked to estimated fair value resulting in an effective interest rate of 3.75%.
[5] The $350 Million Senior Notes have a fixed coupon rate of 3.40%, however, as a result of the issuance of the notes at a discount, Piedmont recognizes an effective interest rate on this debt issuance of 3.45%. After consideration of the impact of settled interest rate swap agreements, in addition to the issuance discount, the effective interest rate on this debt is 3.43%.
[6] The $400 Million Senior Notes have a fixed coupon rate of 4.45%, however, as a result of the issuance of the notes at a discount, Piedmont recognizes an effective interest rate on this debt issuance of 4.48%. After consideration of the impact of settled interest rate swap agreements, in addition to the issuance discount, the effective interest rate on this debt is 4.10%.
[7] Weighted average is based on contractual balance of outstanding debt and interest rates in the table as of June 30, 2014.
[8] Piedmont may select from multiple interest rate options with each draw, including the prime rate and various-length LIBOR locks. All LIBOR selections are subject to an additional spread (1.175% as of June 30, 2014) over the selected rate based on Piedmont’s current credit rating. The outstanding balance as of June 30, 2014 consisted of 30-day LIBOR draws at a rate of 0.16% (subject to the additional spread mentioned above).
[9] Piedmont may extend the term for up to one additional year (through two available six month extensions to a final extended maturity date of August 21, 2017) provided Piedmont is not then in default and upon payment of extension fees.
[10] The $300 Million Unsecured 2011 Term Loan has a stated variable rate; however, Piedmont entered into interest rate swap agreements which effectively fix, absent any changes to Piedmont's credit rating, the rate on this facility to 2.69%.
[11] The $300 Million Unsecured 2013 Term Loan has a stated variable rate; however, Piedmont entered into interest rate swap agreements which effectively fix, absent any changes to Piedmont's credit rating, the rate for $200 million of the loan amount to 2.79% .