XML 52 R42.htm IDEA: XBRL DOCUMENT v3.22.1
Investment in Real Estate and Other Affiliates (Narrative) (Details)
usdPerAcre in Thousands
 1 Months Ended 3 Months Ended 12 Months Ended
Mar. 31, 2022
USD ($)
a
ft²
Mar. 30, 2022
USD ($)
Jan. 19, 2021
a
$ / ft²
Apr. 30, 2022
USD ($)
Mar. 31, 2022
USD ($)
a
ft²
hospitality
Oct. 31, 2021
USD ($)
a
Mar. 31, 2022
USD ($)
a
ft²
Dec. 31, 2021
USD ($)
a
Mar. 31, 2021
USD ($)
Sep. 30, 2020
USD ($)
Mar. 31, 2016
Mar. 31, 2015
USD ($)
usdPerAcre
Dec. 31, 2021
USD ($)
a
Dec. 31, 2018
ft²
Investments in and Advances to Affiliates [Line Items]                            
Total liabilities $ 5,914,289,000       $ 5,914,289,000   $ 5,914,289,000 $ 5,848,524,000         $ 5,848,524,000  
Equity in earnings (losses) from real estate and other affiliates             17,912,000   $ 15,796,000          
Impairment of investment in real estate and other affiliates             0   0          
Carrying value 7,194,991,000       7,194,991,000   7,194,991,000 7,033,244,000         7,033,244,000  
Net loss attributable to noncontrolling interest             $ (407,000)   (1,570,000) [1]          
Over-Allotment Option                            
Investments in and Advances to Affiliates [Line Items]                            
Sale of stock, consideration received on transaction $ 168,900,000                          
Over-Allotment Option | Subsequent Event                            
Investments in and Advances to Affiliates [Line Items]                            
Sale of stock, consideration received on transaction       $ 22,100,000                    
Disposal Group, Disposed of by Sale, Not Discontinued Operations | 110 North Wacker                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates         $ 8,600,000                  
Consideration received   $ 208,600,000                        
Gain on disposal   5,000,000                        
Transaction costs on sales of investments real estate   17,600,000                        
Carrying value   195,000,000                        
Net loss attributable to noncontrolling interest   $ (400,000)                        
Trillium Development Holding Company, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Ownership interest             50.00%              
JDM Partners                            
Investments in and Advances to Affiliates [Line Items]                            
Acquisition interest 50.00%       50.00%   50.00%              
El Dorado Holdings                            
Investments in and Advances to Affiliates [Line Items]                            
Acquisition interest 50.00%       50.00%   50.00%              
Trillium Development Holding Company, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Acquisition interest 50.00%       50.00% 50.00% 50.00%              
Purchase price           $ 59,000,000 $ 59,000,000              
Jean-Georges Restaurants                            
Investments in and Advances to Affiliates [Line Items]                            
Acquisition interest 25.00%       25.00%   25.00%              
Purchase price         $ 45,000,000                  
Number of hospitality | hospitality         40                  
Purchase price         $ 10,000,000                  
Additional interests acquired         20.00%                  
Endorphin Ventures                            
Investments in and Advances to Affiliates [Line Items]                            
Proceeds from equity method investment, distribution, return of capital             $ 179,100,000              
Discovery                            
Investments in and Advances to Affiliates [Line Items]                            
Proceeds from equity method investment, distribution, return of capital             27,000,000              
Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates             13,274,000   12,041,000          
Equity method investment $ 232,458,000       $ 232,458,000   $ 232,458,000 $ 365,997,000         $ 365,997,000  
Seaport Segment                            
Investments in and Advances to Affiliates [Line Items]                            
Area of real estate property (in sqft) | ft² 461,000       461,000   461,000              
Seaport Segment | The Tin Building by Jean-Georges                            
Investments in and Advances to Affiliates [Line Items]                            
Area of real estate property (in sqft) | ft²                           53,783
JDM Partners                            
Investments in and Advances to Affiliates [Line Items]                            
Ownership interest             42.50%              
El Dorado Holdings                            
Investments in and Advances to Affiliates [Line Items]                            
Ownership interest             7.50%              
Foulger Pratt Development, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Economic/Legal Ownership               100.00%         100.00%  
West End Alexandria                            
Investments in and Advances to Affiliates [Line Items]                            
Preferred internal rate of return on capital contribution               15.00%            
110 North Wacker                            
Investments in and Advances to Affiliates [Line Items]                            
Impairment of investment in real estate and other affiliates                         $ 17,700,000  
110 North Wacker | Strategic Developments Segment                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates                   $ 267,500,000        
Ssäm Bar                            
Investments in and Advances to Affiliates [Line Items]                            
Joint venture real estate, percentage funded                     89.75%      
Preferred return on capital of cash distribution             75.00%              
Preferred return on capital             10.00%              
Join venture real estate, remaining cash distribution percentage             50.00%              
Ssäm Bar | Momofuku                            
Investments in and Advances to Affiliates [Line Items]                            
Joint venture real estate, percentage funded                     10.25%      
Preferred return on capital of cash distribution             25.00%              
Ssäm Bar | Seaport Segment | Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates             $ (102,000)   (352,000)          
Investment in real estate and other affiliates $ 6,000,000       $ 6,000,000   6,000,000              
Equity method investment 6,033,000       6,033,000   $ 6,033,000 $ 5,852,000         5,852,000  
The Tin Building by Jean-Georges                            
Investments in and Advances to Affiliates [Line Items]                            
Joint venture real estate, percentage funded             100.00%              
Preferred return on capital of cash distribution             65.00%              
Joint venture real estate, percentage funded, distribution             100.00%              
Ownership interest             100.00%              
Preferred return on capital             18.00%              
The Tin Building by Jean-Georges | Jean-Georges Restaurants                            
Investments in and Advances to Affiliates [Line Items]                            
Preferred return on capital of cash distribution             35.00%              
The Tin Building by Jean-Georges | Seaport Segment | Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates             $ (3,609,000)   0          
Equity method investment 7,846,000       7,846,000   7,846,000 0         0  
Contributions cost 11,400,000       11,400,000   11,400,000              
Jean-Georges Restaurants | Seaport Segment | Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates             0   0          
Equity method investment $ 45,400,000       $ 45,400,000   $ 45,400,000 $ 0         $ 0  
Economic/Legal Ownership 25.00%       25.00%   25.00% 0.00%         0.00%  
The Summit                            
Investments in and Advances to Affiliates [Line Items]                            
Preferred return on capital             5.00%              
Cash distribution entitlement by the joint venture             2              
The Summit | Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Contribution of property                       $ 13,400,000    
SID bonds transferred to joint venture                       1,300,000    
Transaction value of land contributed to joint venture             $ 125,400,000         $ 125,400,000    
Transactional value per acre of land contributed to joint venture | usdPerAcre                       226    
Maximum contribution required to joint venture by co-venturer                       $ 30,000,000    
Amount contributed on maximum contribution required to joint venture by co-venture                       $ 3,800,000    
West End Alexandria                            
Investments in and Advances to Affiliates [Line Items]                            
Preferred return on capital               10.00%            
Economic/Legal Ownership               58.33%         58.33%  
Preferred return on capital, percent of capital contribution               100.00%            
West End Alexandria | Strategic Developments Segment | Equity Method Investments                            
Investments in and Advances to Affiliates [Line Items]                            
Equity in earnings (losses) from real estate and other affiliates             84,000   $ 0          
Equity method investment $ 56,630,000       $ 56,630,000   $ 56,630,000 $ 56,546,000         $ 56,546,000  
West End Alexandria | Foulger Pratt Development, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Economic/Legal Ownership               10.42%         10.42%  
Preferred return on capital, percent of capital contribution               20.00%            
Preferred unreturned on capital, percent of capital contribution               30.00%            
West End Alexandria | Seritage                            
Investments in and Advances to Affiliates [Line Items]                            
Economic/Legal Ownership               31.25%         31.25%  
West End Alexandria | West End Alexandria                            
Investments in and Advances to Affiliates [Line Items]                            
Preferred return on capital, percent of capital contribution               80.00%            
Preferred unreturned on capital, percent of capital contribution               70.00%            
The Lawn Club NYC, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Joint venture real estate, percentage funded     80.00%                      
Preferred return on capital of cash distribution     80.00%                      
Joint venture real estate, percentage funded, distribution     60.00%                      
Lease agreement equal per square foot of the property on an annual basis (per sq ft) | $ / ft²     100                      
The Lawn Club NYC, LLC | Endorphin Ventures                            
Investments in and Advances to Affiliates [Line Items]                            
Joint venture real estate, percentage funded     20.00%                      
Preferred return on capital of cash distribution     20.00%                      
Joint venture real estate, percentage funded, distribution     40.00%                      
Fulton Market Building                            
Investments in and Advances to Affiliates [Line Items]                            
Area of real estate property (in sqft) | a     20,000                      
Phoenix, Arizona | Trillium Development Holding Company, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a           3,029                
Phoenix, Arizona | Trillium Development Holding Company, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a 3,029       3,029   3,029              
Phoenix, Arizona | JDM Partners                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a 2,579       2,579   2,579              
Phoenix, Arizona | El Dorado Holdings                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a 450       450   450              
Landmark Mall Property | Foulger Pratt Development, LLC                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a               33         33  
Fair value of property contributed               $ 56,000,000            
Fair value of property contributed, additional               $ 10,000,000            
Landmark Mall Property | Seritage                            
Investments in and Advances to Affiliates [Line Items]                            
Area of land | a               19         19  
Fair value of property contributed               $ 30,000,000            
Alexandria | West End Alexandria                            
Investments in and Advances to Affiliates [Line Items]                            
Carrying value               $ 54,000,000         $ 54,000,000  
Area of land | a               11         11  
Central Plaza | Development Plans                            
Investments in and Advances to Affiliates [Line Items]                            
Area of real estate property (in sqft) | a               4,000,000         4,000,000  
Area of land | a               41         41  
Unconsolidated Properties                            
Investments in and Advances to Affiliates [Line Items]                            
Total liabilities $ 204,000,000       $ 204,000,000   $ 204,000,000              
Unconsolidated Properties | HHC | Equity Method Investment, Nonconsolidated Investee or Group of Investees                            
Investments in and Advances to Affiliates [Line Items]                            
Total liabilities $ 100,500,000       $ 100,500,000   $ 100,500,000              
[1] Excludes redeemable noncontrolling interest. See Note 2 - Investment in Real Estate and Other Affiliates.