Subsequent Events

6 Months Ended

Jun. 30, 2016

Subsequent Events [Abstract]

Subsequent Events

Subsequent events

On July 21, 2016, a new joint venture, which we manage and in which we expect to retain a twenty to thirty-percent equity interest, purchased a 365,000 square foot class A multi-tenant office property in Brentwood, Los Angeles, for $225 million, or $616 per square foot. The new joint venture paid a portion of the purchase price with a three year, interest only$90.0 million non-recourse loan bearing interest at LIBOR plus 1.55% which is secured by that office property.

During July, 2016, we sold approximately 1.4 million shares of our common stock in open market transactions under our ATM program for net proceeds of $49.8 million after commissions and other expenses.