XML 37 R26.htm IDEA: XBRL DOCUMENT v3.7.0.1
CONCENTRATIONS
6 Months Ended
Jun. 30, 2017
Risks and Uncertainties [Abstract]  
CONCENTRATIONS
CONCENTRATIONS
Tenant Revenue Concentrations—Rental revenue, excluding tenant reimbursements of certain costs, from the U.S. General Services Administration and other government agencies (collectively, "Governmental Tenants"), which primarily occupy properties located in Washington, D.C., accounted for approximately 21.4% and 19.0% of our rental and other property income for the three months ended June 30, 2017 and 2016, respectively, and 20.4% and 19.5% for the six months ended June 30, 2017 and 2016, respectively. At June 30, 2017 and December 31, 2016, $11,946,000 and $8,339,000, respectively, was due from Governmental Tenants (Note 17).
Geographical Concentrations of Investments in Real Estate—As of June 30, 2017 and December 31, 2016, we owned 17 and 20 office properties, respectively, two and five multifamily properties, respectively, one hotel property, two and three parking garages, respectively, and two development sites, one of which is being used as a parking lot. These properties are located in three and four states, respectively, and Washington, D.C.
Our revenue concentrations from properties are as follows:
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2017
 
2016
 
2017
 
2016
California
 
61.1
%
 
65.1
%
 
62.2
%
 
64.9
%
Washington, D.C. 
 
23.7

 
20.6

 
22.2

 
20.9

Texas
 
8.0

 
8.1

 
7.9

 
8.0

North Carolina
 
4.9

 
4.2

 
5.6

 
4.2

New York
 
2.3

 
2.0

 
2.1

 
2.0

 
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%





Our real estate investments concentrations from properties are as follows:
 
 
June 30, 2017
 
December 31, 2016
California (1)
 
50.2
%
 
50.8
%
Washington, D.C. 
 
39.9

 
32.3

Texas (1)
 
5.2

 
7.7

New York (1)
 
4.7

 
3.7

North Carolina
 

 
5.5

 
 
100.0
%
 
100.0
%

_______________________________________________________________________________
(1)
Includes the assets of 7083 Hollywood Boulevard, 4200 Scotland Street, and 47 E 34th Street, all of which are classified as held for sale on our consolidated balance sheet at June 30, 2017 (Note 3).