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Segment Information (Tables)
 6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Schedule of Reportable Segments
The following tables provide selected asset information and results of operations of the Company's reportable segments (in thousands):
Real estate investments, at cost:
 
 
 
 
 
 
June 30, 2015
 
December 31, 2014
Philadelphia CBD
 
$
1,386,017

 
$
1,338,655

Pennsylvania Suburbs
 
1,180,974

 
1,178,470

Metropolitan Washington, D.C.
 
1,211,886

 
1,183,652

New Jersey/Delaware (a)
 
330,051

 
392,581

Richmond, Virginia
 
310,648

 
317,076

California
 
119,360

 
193,258

Austin, Texas (b)
 
161,903

 
—

 
 
$
4,700,839

 
$
4,603,692

Less: Assets held for sale (a)
 
—

 
27,436

      Operating Properties
 
$
4,700,839

 
$
4,631,128

 
 
 
 
 
Corporate
 
 
 
 
Construction-in-progress
 
$
263,772

 
$
201,360

Land inventory
 
$
119,995

 
$
90,603


(a)
On December 31, 2014, the Company was actively marketing for sale its Atrium I and Libertyview properties, comprised of two office properties located in the New Jersey/Delaware segment. As of December 31, 2014 the properties were classified as held for sale on the consolidated balance sheet. The properties were sold on January 8, 2015. See Note 3, "Real Estate Investments," for further information. The sale is not classified as a significant disposition under the accounting guidance for discontinued operations.
(b)
On June 22, 2015 the Company acquired the remaining 50.0% of the common interest in Broadmoor Austin Associates. As such, the Company has seven wholly owned properties in its Austin, Texas business segment at June 30, 2015. See Note 3, "Real Estate Investments," for further information regarding this transaction.
Schedule of Segment Net Operating Income, by Segment
Net operating income:
 
 
 
 
 
 
 
 
 
 
 
 
Three-month periods ended
 
June 30,
 
2015
 
2014
 
Total revenue
 
Operating expenses (a)
 
Net operating income (loss)
 
Total revenue
 
Operating expenses (a)
 
Net operating income (loss)
Philadelphia CBD
$
52,420

 
$
(19,448
)
 
$
32,972

 
$
51,420

 
$
(18,789
)
 
$
32,631

Pennsylvania Suburbs
39,010

 
(12,856
)
 
26,154

 
40,743

 
(13,742
)
 
27,001

Metropolitan Washington, D.C.
26,953

 
(10,544
)
 
16,409

 
28,949

 
(10,505
)
 
18,444

New Jersey/Delaware
11,727

 
(6,203
)
 
5,524

 
14,841

 
(7,531
)
 
7,310

Richmond, Virginia
8,956

 
(3,632
)
 
5,324

 
8,322

 
(3,566
)
 
4,756

California
3,391

 
(1,572
)
 
1,819

 
4,895

 
(2,515
)
 
2,380

Austin, Texas (b)
2,533

 
(1,498
)
 
1,035

 
976

 
(617
)
 
359

Corporate
658

 
(596
)
 
62

 
354

 
(442
)
 
(88
)
Operating Properties
$
145,648

 
$
(56,349
)
 
$
89,299

 
$
150,500

 
$
(57,707
)
 
$
92,793

 
 
 
 
 
 
 
 
 
 
 
 
 
Six-month periods ended
 
June 30,
 
2015
 
2014
 
Total revenue
 
Operating expenses (a)
 
Net operating income
 
Total revenue
 
Operating expenses (a)
 
Net operating income (loss)
Philadelphia CBD
$
105,393

 
$
(37,838
)
 
$
67,555

 
$
100,834

 
$
(37,231
)
 
$
63,603

Pennsylvania Suburbs
78,900

 
(27,441
)
 
51,459

 
81,317

 
(28,431
)
 
52,886

Metropolitan Washington, D.C.
54,359

 
(22,404
)
 
31,955

 
59,639

 
(22,462
)
 
37,177

New Jersey/Delaware
25,226

 
(14,071
)
 
11,155

 
30,466

 
(16,223
)
 
14,243

Richmond, Virginia
18,251

 
(7,904
)
 
10,347

 
17,189

 
(7,906
)
 
9,283

California
8,376

 
(4,010
)
 
4,366

 
9,497

 
(4,923
)
 
4,574

Austin, Texas (b)
3,467

 
(2,369
)
 
1,098

 
3,057

 
(1,793
)
 
1,264

Corporate
2,082

 
(1,010
)
 
1,072

 
615

 
(712
)
 
(97
)
Operating Properties
$
296,054

 
$
(117,047
)
 
$
179,007

 
$
302,614

 
$
(119,681
)
 
$
182,933


(a)
Includes property operating expense, real estate taxes and third party management expense.
(b)
On June 22, 2015 the Company acquired the remaining 50.0% of the common interest in Broadmoor Austin Associates. See Note 3, "Real Estate Investments," for further information regarding this transaction. On April 3, 2014, the Company contributed Four Points Centre to an unconsolidated real estate venture. See Note 3, "Real Estate Investments," in notes to the audited financial statements included in the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2014.


Schedule of Segment Reporting Information, by Segment
Unconsolidated real estate ventures:
 
 
 
 
 
 
 
 
 
 
 
Investment in real estate ventures, at equity
 
Equity in income (loss) of real estate ventures
 
As of
 
Three-month periods ended June 30,
 
Six-month periods ended June 30,
 
June 30, 2015
 
December 31, 2014
 
2015
 
2014
 
2015
 
2014
Philadelphia CBD (a)
$
33,961

 
$
27,137

 
$
(150
)
 
$
—

 
$
(450
)
 
$
(21
)
Pennsylvania Suburbs
17,220

 
17,385

 
(17
)
 
(391
)
 
(22
)
 
(359
)
Metropolitan Washington, D.C.
109,249

 
73,127

 
(179
)
 
(42
)
 
(229
)
 
25

New Jersey/Delaware
—

 
—

 
116

 
103

 
164

 
122

Richmond, Virginia
1,506

 
1,574

 
246

 
115

 
331

 
69

Austin, Texas (b) (c)
39,098

 
105,781

 
(889
)
 
(274
)
 
(536
)
 
(83
)
Total
$
201,034

 
$
225,004

 
$
(873
)
 
$
(489
)
 
$
(742
)
 
$
(247
)

(a)
Equity in income as of June 30, 2014 did not include evo at Cira, which was placed into service during the third quarter ended September 30, 2014.
(b)
Investment in real estate ventures does not include the $1.2 million negative investment balance in one real estate venture as of June 30, 2015 and December 31, 2014, which is included in other liabilities.
(c)
On June 22, 2015 the Company acquired the remaining 50.0% of the common interest in Broadmoor Austin Associates. As such, equity method investment at June 30, 2015 related to the Austin Venture only. See Note 3, "Real Estate Investments," for further information regarding the purchase of Broadmoor Austin Associates.
Reconciliation of Consolidated Net Operating Income
The following is a reconciliation of consolidated NOI to consolidated net income (loss), as defined by GAAP:
 
Three-month periods ended June 30,
 
Six-month periods ended June 30,
 
2015
 
2014
 
2015
 
2014
 
(amounts in thousands)
Consolidated net operating income
$
89,299

 
$
92,793

 
$
179,007

 
$
182,933

Other income (expense):
 
 
 
 
 
 
 
Depreciation and amortization
(50,930
)
 
(52,587
)
 
(102,041
)
 
(105,157
)
General and administrative expenses
(6,791
)
 
(6,005
)
 
(15,427
)
 
(14,186
)
Interest income
313

 
385

 
1,063

 
770

Interest expense
(27,895
)
 
(31,512
)
 
(56,071
)
 
(63,356
)
Interest expense - amortization of deferred financing costs
(1,288
)
 
(1,197
)
 
(2,367
)
 
(2,386
)
Interest expense - financing obligation
(324
)
 
(316
)
 
(610
)
 
(588
)
Equity in loss of real estate ventures
(873
)
 
(489
)
 
(742
)
 
(247
)
Net gain on disposition of real estate
1,571

 
—

 
10,590

 
—

Net gain (loss) on sale of undepreciated real estate
—

 
(3
)
 
—

 
1,184

Net gain from remeasurement of investment in a real estate venture
758

 
458

 
758

 
458

Loss on real estate venture transactions
—

 
(282
)
 
—

 
(417
)
Provision for impairment on assets held for sale/sold
(782
)
 
—

 
(2,508
)
 
—

Income (loss) from continuing operations
3,058

 
1,245

 
11,652

 
(992
)
Income from discontinued operations
—

 
929

 
—

 
921

Net income (loss)
$
3,058

 
$
2,174

 
$
11,652

 
$
(71
)