XML 71 R60.htm IDEA: XBRL DOCUMENT v3.20.2
DEBT - Narrative (Details)
1 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
May 01, 2020
USD ($)
May 16, 2019
USD ($)
mortgageLoan
Mar. 14, 2019
USD ($)
mortgageLoan
Mar. 11, 2019
USD ($)
swap
Mar. 01, 2019
USD ($)
Feb. 28, 2019
USD ($)
Dec. 28, 2018
USD ($)
swap
Oct. 30, 2018
USD ($)
May 30, 2018
USD ($)
Sep. 21, 2017
USD ($)
mortgageLoan
Oct. 31, 2018
USD ($)
extensionOption
Jun. 30, 2016
USD ($)
agreement
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2020
USD ($)
Jun. 30, 2019
USD ($)
swap
Dec. 31, 2017
USD ($)
swap
Dec. 31, 2019
USD ($)
Aug. 13, 2015
USD ($)
Debt Instrument [Line Items]                                      
Deferred loan costs                         $ 4,770,000   $ 4,770,000     $ 4,535,000  
Deferred loan costs, accumulated amortization                         2,042,000   2,042,000     1,494,000  
Loss on early extinguishment of debt                         0 $ 4,911,000 0 $ 29,982,000      
Payment of mortgages payable                             0 46,000,000      
Prepayment penalties and other payments for early extinguishment of debt                             0 5,660,000      
Restricted cash                         10,960,000 10,824,000 10,960,000 $ 10,824,000   12,146,000  
Number of swaps terminated | swap       2     1                 2 7    
Notional amount of terminated swaps       $ 120,000,000     $ 50,000,000                   $ 215,000,000    
Accrued interest and unused commitment fee payable                         604,000   604,000     650,000  
Mortgages Payable                                      
Debt Instrument [Line Items]                                      
Number of mortgage loan agreements | agreement                       6              
Amount of loan                       $ 392,000,000              
Mortgage loan with a fixed interest of 4.14% per annum, due on July 1, 2026                                      
Debt Instrument [Line Items]                                      
Gross debt                         $ 97,100,000   $ 97,100,000     97,100,000  
Fixed interest rate                         4.14%   4.14%        
Loan Backed Notes                                      
Debt Instrument [Line Items]                                      
Proceeds from notes payable                 $ 38,200,000                    
Weight average life                 2 years                    
Restricted cash                         $ 2,330,000   $ 2,330,000     $ 3,306,000  
Loan Backed Notes | LIBOR                                      
Debt Instrument [Line Items]                                      
Interest rate margin                 1.40%                    
Loan Backed Notes | Prime Rate                                      
Debt Instrument [Line Items]                                      
Interest rate margin                 (1.08%)                    
2018 Revolving Credit Facility                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity                     $ 250,000,000                
Interest rate                         1.80%   1.80%     3.29%  
Number of extension options | extensionOption                     1                
Extension option, term                     1 year                
Proceeds from issuance of debt               $ 170,000,000                      
2018 Revolving Credit Facility | Minimum                                      
Debt Instrument [Line Items]                                      
Unused commitment fee percentage                     0.15%                
2018 Revolving Credit Facility | Maximum                                      
Debt Instrument [Line Items]                                      
Unused commitment fee percentage                     0.25%                
2018 Revolving Credit Facility | LIBOR                                      
Debt Instrument [Line Items]                                      
Interest rate margin                     1.55%                
2018 Revolving Credit Facility | Base rate                                      
Debt Instrument [Line Items]                                      
Interest rate margin                     0.55%                
7083 Hollywood Boulevard, Los Angeles, California | Disposal Group, Held-for-sale, Not Discontinued Operations                                      
Debt Instrument [Line Items]                                      
Number of mortgage loans assumed by buyer | mortgageLoan                   1                  
Outstanding amount                   $ 21,700,000                  
Properties Used As Collateral For Loans | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Mortgage loan with a fixed interest of 4.14% per annum, due on July 1, 2026                                      
Debt Instrument [Line Items]                                      
Defeased amount         $ 205,500,000                            
Cash outlay required for defeasance         224,086,000                            
Loss on early extinguishment of debt                           0   $ 19,290,000      
Write off of deferred loan costs         637,000                            
Write off of accumulated amortization         170,000                            
Transaction costs         237,000                            
Office Property, San Fransisco California | Disposal Group, Disposed of by Sale, Not Discontinued Operations                                      
Debt Instrument [Line Items]                                      
Number of mortgage loans assumed by buyer | mortgageLoan     1                                
Outstanding amount     $ 28,200,000                                
Loss on early extinguishment of debt                           0   178,000      
Write off of deferred loan costs                               243,000      
Write off of accumulated amortization                               65,000      
1333 Broadway, Oakland, CA | Disposal Group, Disposed of by Sale, Not Discontinued Operations | Mortgage loan with a fixed interest of 4.14% per annum, due on July 1, 2026                                      
Debt Instrument [Line Items]                                      
Defeased amount   $ 39,500,000                                  
Cash outlay required for defeasance   44,108,000                                  
Loss on early extinguishment of debt                           4,911,000   4,911,000      
Write off of deferred loan costs   287,000                                  
Write off of accumulated amortization   82,000                                  
Transaction costs   $ 98,000                                  
Number of mortgage loans defeased | mortgageLoan   1                                  
Office Property, Washington, D.C. | Disposal Group, Disposed of by Sale, Not Discontinued Operations                                      
Debt Instrument [Line Items]                                      
Loss on early extinguishment of debt                           $ 0   $ 5,603,000      
Write off of deferred loan costs         537,000                            
Write off of accumulated amortization         259,000                            
Payment of mortgages payable         46,000,000                            
Prepayment penalties and other payments for early extinguishment of debt         $ 5,325,000                            
Interest Rate Swap                                      
Debt Instrument [Line Items]                                      
Total notional amount                                     $ 385,000,000
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedges                                      
Debt Instrument [Line Items]                                      
Total notional amount                         $ 120,000,000   $ 120,000,000        
Interest Rate Swap | Designated as Hedging Instrument | Cash Flow Hedges | Weighted Average                                      
Debt Instrument [Line Items]                                      
All-in rate                         3.11%   3.11%        
2018 Revolving Credit Facility | Line of Credit                                      
Debt Instrument [Line Items]                                      
Repayments of debt       $ 120,000,000   $ 10,000,000 $ 40,000,000                        
Gross debt                         $ 209,500,000   $ 209,500,000     $ 153,000,000  
Remaining borrowing capacity                         0   0     73,900,000  
Unsecured Revolving Credit Facility Due May 2022 | 2018 Revolving Credit Facility | Line of Credit                                      
Debt Instrument [Line Items]                                      
Maximum borrowing capacity $ 10,000,000                                    
Fixed interest rate 1.00%                                    
Fee percentage for each advance made 1.12%                                    
Maximum fee amount payable $ 112,000                                    
Debt outstanding                         0   0        
Remaining borrowing capacity                         10,000,000   10,000,000        
Paycheck Protection Program Liquidity Facility, CARES Act | 2018 Revolving Credit Facility | Line of Credit                                      
Debt Instrument [Line Items]                                      
Gross debt                         15,466,000   15,466,000     $ 0  
Debt outstanding                         $ 15,466,000   $ 15,466,000