XML 59 R44.htm IDEA: XBRL DOCUMENT v3.5.0.2
Investment in Unconsolidated Real Estate Ventures (Textual) (Details)
3 Months Ended 9 Months Ended
Oct. 24, 2016
USD ($)
Sep. 22, 2016
USD ($)
Aug. 31, 2016
USD ($)
Aug. 19, 2016
USD ($)
Jun. 30, 2016
USD ($)
ft²
Jun. 10, 2016
USD ($)
Mar. 02, 2016
USD ($)
Feb. 04, 2016
USD ($)
ft²
property
Jan. 29, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
ft²
Sep. 30, 2015
USD ($)
Sep. 30, 2016
USD ($)
property
Sep. 30, 2015
USD ($)
Sep. 30, 2016
Sep. 30, 2016
property
Sep. 30, 2016
ft²
Sep. 30, 2016
Real_Estate_Investment
Sep. 30, 2016
a
Sep. 30, 2016
Apartment_unit
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
a
Storey
Bed
Sep. 30, 2014
a
Storey
Bed
Jan. 25, 2013
USD ($)
a
Jul. 10, 2012
USD ($)
ft²
property
Dec. 20, 2011
property
Schedule Of Equity Method Investments [Line Items]                                                    
Management fees                   $ 6,248,000   $ 4,274,000 $ 17,691,000 $ 12,805,000                        
Accounts receivable                   9,925,000     9,925,000               $ 17,126,000          
Deconsolidated mortgage loan                         20,582,000 0                        
Deconsolidated financing liability                         12,384,000 0                        
Investment in Real Estate Ventures, equity method                   282,162,000     282,162,000               241,004,000          
Capital funded to venture for mortgage debt                         27,174,000 62,868,000                        
Repayment of mortgage debt                         302,514,000 10,598,000                        
Number of Properties | property                               117                    
Proceeds from sale of real estate venture                         20,551,000 0                        
Net gain on Real Estate Venture transactions                   10,472,000   0 19,529,000 0                        
Advance received for refinancing                         195,000,000 0                        
Cash distribution from unconsolidated real estate ventures                         12,565,000 7,401,000                        
Proceeds from the sale of properties                         758,931,000 152,243,000                        
Gain (Loss) on Sale                   (104,000)   6,083,000 114,625,000 16,673,000                        
TB-BDN Plymouth Apartments [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Construction Loan                   56,000,000     56,000,000                          
Guarantor obligations, current carrying value                   3,200,000     3,200,000                          
1919 Venture [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Guarantor obligations, current carrying value                   88,900,000     88,900,000                          
Office Properties [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Rentable Square Feet | ft²                                 5,082,963                  
Number of Properties | property                               99                    
Sales Price                   807,200,000     $ 807,200,000                          
Number of Properties Sold | property                         63                          
Proceeds from the sale of properties                         $ 757,785,000                          
Gain (Loss) on Sale [1]                         114,601,000                          
Office Properties [Member] | 3141 Fairview Park Drive [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Rentable Square Feet | ft²                                 587,317                  
Real Estate Venture [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Management fees                   6,200,000   $ 4,300,000 17,700,000 $ 12,800,000                        
Accounts receivable                   1,100,000     1,100,000               1,700,000          
Unconsolidated Real Estate Ventures [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   14                
Equity Method Investments including net liabilities                   282,200,000     282,200,000                          
Investment in Real Estate Ventures, equity method [2],[3]                   282,162,000     282,162,000               241,004,000          
Unconsolidated Real Estate Ventures [Member] | Minimum [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                             20.00%                      
Unconsolidated Real Estate Ventures [Member] | Maximum [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                             70.00%                      
Unconsolidated Real Estate Ventures [Member] | Seven Real Estate Ventures [Member] | Office Properties [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   7                
Rentable Square Feet | ft²                                 8,000,000                  
Unconsolidated Real Estate Ventures [Member] | Two Real Estate Ventures [Member] | Undeveloped Land [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   2                
Acreage of land | a                                     4.3              
Unconsolidated Real Estate Ventures [Member] | Two Other Real Estate Ventures [Member] | Under Active Development Land [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   2                
Acreage of land | a                                     1.4              
Unconsolidated Real Estate Ventures [Member] | Two Other Real Estate Ventures [Member] | Residential Tower One [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   1                
Number of Property units                               345       345            
Unconsolidated Real Estate Ventures [Member] | Two Other Real Estate Ventures [Member] | Residential Tower Two [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   1                
Number of Property units                               321       321            
Unconsolidated Real Estate Ventures [Member] | One Real Estate Venture [Member] | Apartment Complex [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of Unconsolidated Investments in Real Estate Ventures | Real_Estate_Investment                                   1                
Number of Property units                               398       398            
Brandywine - AI Venture LLC [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                                                   50.00%
Provision for impairment of investment in real estate ventures                         10,400,000                          
Brandywine - AI Venture LLC [Member] | Current Creek Investments, LLC [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                                                   50.00%
Brandywine - AI Venture LLC [Member] | 3141 Fairview Park Drive [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Deconsolidated net assets     $ 45,600,000                                              
Deconsolidated mortgage loan     20,582,000                                              
Deconsolidated financing liability     12,384,000                                              
Investment in Real Estate Ventures, equity method     $ 12,600,000                                              
Recognizing gain or loss on sale                     $ 0                              
Capital funded to venture for mortgage debt                         10,300,000                          
Brandywine - AI Venture LLC [Member] | 3141 Fairview Park Drive [Member] | Subsequent Event [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Repayment of mortgage debt $ 20,600,000                                                  
Brandywine - AI Venture LLC [Member] | Station Square [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Rentable Square Feet | ft²                                                 497,896  
Equity method investment percentage                                                 50.00%  
Provision for impairment of investment in real estate ventures                         10,400,000                          
Number of Properties | property                                                 3  
Cost of equity method investment                                                 $ 120,600,000  
Equity method investment other than temporary impairment charge                         5,200,000                          
Brandywine - AI Venture LLC [Member] | Remaining Properties in Real Estate Venture [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment other than temporary impairment charge                         0                          
Brandywine - AI Venture LLC [Member] | Office Properties [Member] | 3141 Fairview Park Drive [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Number of office properties owned | property                                                   3
PJP V [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage   25.00%                                                
Proceeds from sale of real estate venture   $ 3,400,000                                                
Equity in income (loss) of Real Estate Ventures   200,000                                                
Net gain on Real Estate Venture transactions   $ 3,200,000                                                
PJP V [Member] | Office Properties [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Rentable Square Feet | ft²                                 73,997                  
Invesco Venture [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity in income (loss) of Real Estate Ventures       $ 0                                            
Net gain on Real Estate Venture transactions       7,000,000                                            
Amount of proceeds, net of closing costs       $ 7,000,000                                            
1000 Chesterbrook [Member] | Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage         50.00%           50.00%                              
Proceeds from sale of real estate venture         $ 9,800,000                                          
Net gain on Real Estate Venture transactions         3,200,000                                          
Sales Price         32,100,000           $ 32,100,000                              
Debt assumed by buyer         $ 23,200,000                                          
Working capital contribution                   200,000     $ 200,000                          
1000 Chesterbrook [Member] | One Real Estate Venture [Member] | Office Properties [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Net Rentable Square Feet | ft²         172,286           172,286                              
evo at Cira Centre South Venture [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage             50.00%                                 30.00%    
Investment in Real Estate Ventures, equity method             $ 28,300,000                                      
Equity Method Investment, Underlying Equity in Net Assets                                           $ 0   $ 8,500,000    
Area of developed parcels of land (in acres) owned by a Real Estate Venture | a                                           0 1 1    
Number of floors of a building | Storey                                           0 33      
Student housing bed capacity | Bed                                           0 850      
Percent of share of contribution made on real estate venture                                           100.00%   0.00%    
Construction Loan           $ 97,800,000                               $ 97,800,000   $ 0    
Cash paid to acquire real estate ventures             $ 12,800,000                                      
Equity method investment percentage of interests acquired by the Company and HSRE             30.00%                                      
Debt instrument maturity date           Jul. 25, 2016                                        
Cash distribution from unconsolidated real estate ventures           $ 6,300,000                                        
evo at Cira Centre South Venture [Member] | Secured Debt [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Debt instrument maturity date           Oct. 31, 2019                                        
Term loans           $ 117,000,000                                        
Debt instrument, description of variable rate basis                         LIBOR + 2.25                          
Debt instrument optional extended maturity date           Jun. 30, 2021                                        
Advance received for refinancing           $ 105,000,000                                        
Additional capacity under the term loan may be funded if certain criterion relating to the operating performance of the student housing tower are met           $ 12,000,000                                        
evo at Cira Centre South Venture [Member] | Secured Debt [Member] | LIBOR [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Debt instrument, basis spread on variable rate           2.25%                                        
evo at Cira Centre South Venture [Member] | Campus Crest Properties, LLC [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                                               30.00%    
evo at Cira Centre South Venture [Member] | HSRE, LLC [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage             50.00%                                 40.00%    
Cash paid to acquire real estate ventures             $ 6,600,000                                      
evo at Cira Centre South Venture [Member] | Maximum [Member] | Secured Debt [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Effective interest rate           5.25%                                        
MAP Venture [Member] | Variable Interest Entity, Not Primary Beneficiary [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Rentable Square Feet | ft²               3,924,783                                    
Equity method investment percentage               50.00%                                    
Sales Price               $ 398,100,000                                    
Number of Properties Sold | property               58                                    
Percentage of fee interests in land sold               100.00%                                    
Ground lease annual payments                         $ 11,900,000                          
Ground lease annual rent expense increase percentage                             2.50%                      
Reassessment period for change in ground lease annual payments                         10 years                          
Ground Lease Terms                         Annual payments by the MAP Venture, as tenant under the Ground Leases, initially total $11.9 million and increase 2.5% annually through November 2025.                          
Non-Recourse Debt               $ 180,800,000                                    
Proceeds from the sale of properties               354,000,000                                    
Ownership percentage value               $ 25,200,000                                    
Coppell Associates [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                 50.00%                                  
Proceeds from sale of real estate venture                 $ 4,600,000                                  
Gain (Loss) on Sale                 5,700,000                                  
Coppell Associates [Member] | Other Liabilities [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Equity method investment percentage                             50.00%                      
Investment in Real Estate Ventures, equity method                 $ 1,100,000 0     $ 0               $ 1,100,000          
PJP VII [Member]                                                    
Schedule Of Equity Method Investments [Line Items]                                                    
Guarantor obligations, current carrying value                   $ 500,000     $ 500,000                          
[1] Gain/(Loss) on Sale is net of closing and other transaction related costs.
[2] Does not include the negative investment balance in one real estate venture totaling $1.1 million as of December 31, 2015, which is included in other liabilities. There is no negative investment balance as of September 30, 2016 because the Company sold its entire remaining 50% interest in the applicable real estate venture (See “Coppell Associates” section below) during the three month period ended March 31, 2016.
[3] This amount includes the effect of the basis difference between the Company's historical cost basis and the basis recorded at the Real Estate Venture level, which is typically amortized over the life of the related assets and liabilities. Basis differentials occur from the impairment of investments, purchases of third party interests in existing Real Estate Ventures and upon the transfer of assets that were previously owned by the Company into a Real Estate Venture. In addition, certain acquisition, transaction and other costs may not be reflected in the net assets at the Real Estate Venture level.