U.S. Government Securities

9 Months Ended

Sep. 30, 2019

Investments, Debt and Equity Securities [Abstract]

The Company has U.S. Government securities of $142.3 million and $146.9 million as of September 30, 2019 and December 31, 2018, respectively. The One Westside and 10850 Pico properties acquisition in 2018 included the assumption of debt that was, in-substance, defeased through the purchase of U.S. Government-backed securities. The securities are investments held to maturity and are carried at amortized cost on the Consolidated Balance Sheets. As of September 30, 2019, the Company had $5.1 million of gross unrealized gains and no gross unrealized losses.

The following table summarizes the carrying value and fair value of the Company’s securities by the contractual maturity date September 30, 2019:


	Carrying Value		Fair Value
Due in 1 year	$	4,894	$	4,931
Due in 1 to 5 years	137,374		142,424
TOTAL	$	142,268	$	147,355