XML 37 R26.htm IDEA: XBRL DOCUMENT v3.8.0.1
CONCENTRATIONS
9 Months Ended
Sep. 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 23.2% and 20.6% of our rental and other property income for the three months ended September 30, 2017 and 2016, respectively, and 21.2% and 19.9% for the nine months ended September 30, 2017 and 2016, respectively. At September 30, 2017 and December 31, 2016, $8,924,000 and $8,339,000, respectively, was due from Governmental Tenants (Note 17).
Geographical Concentrations of Investments in Real Estate—As of September 30, 2017 and December 31, 2016, we owned 15 and 20 office properties, respectively, one 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 two and four states, respectively, and Washington, D.C.
Our revenue concentrations from properties are as follows:
 
 
Three Months Ended September 30,
 
Nine Months Ended September 30,
 
 
2017
 
2016
 
2017
 
2016
California
 
63.0
%
 
61.7
%
 
62.4
%
 
63.9
%
Washington, D.C.
 
29.0

 
21.9

 
24.2

 
21.2

Texas
 
5.7

 
8.6

 
7.3

 
8.2

New York
 
2.3

 
1.9

 
2.2

 
1.9

North Carolina
 

 
5.9

 
3.9

 
4.8

 
 
100.0
%
 
100.0
%
 
100.0
%
 
100.0
%




Our real estate investments concentrations from properties are as follows:
 
 
September 30, 2017
 
December 31, 2016
California
 
55.7
%
 
50.8
%
Washington, D.C. (1)
 
38.3

 
32.3

Texas (1)
 
6.0

 
7.7

North Carolina
 

 
5.5

New York
 

 
3.7

 
 
100.0
%
 
100.0
%

_______________________________________________________________________________
(1)
Includes the assets of 4200 Scotland Street and 370 L'Enfant Promenade, which are classified as held for sale on our consolidated balance sheet at September 30, 2017 (Note 3).