XML 129 R74.htm IDEA: XBRL DOCUMENT v3.8.0.1
DEBT - Narrative (Details)
1 Months Ended 12 Months Ended
Dec. 15, 2017
USD ($)
Nov. 29, 2017
USD ($)
swap
Sep. 21, 2017
USD ($)
Aug. 03, 2017
USD ($)
swap
Jun. 23, 2017
USD ($)
May 30, 2017
USD ($)
Mar. 28, 2017
USD ($)
Sep. 01, 2015
USD ($)
swap
Apr. 01, 2015
USD ($)
Sep. 30, 2017
USD ($)
Jun. 30, 2016
USD ($)
agreement
May 31, 2015
USD ($)
Sep. 30, 2014
USD ($)
extension_option
Dec. 31, 2017
USD ($)
Dec. 31, 2016
USD ($)
Dec. 31, 2015
USD ($)
Aug. 31, 2017
USD ($)
Nov. 02, 2015
USD ($)
Debt                                    
Deferred loan costs, gross                           $ 3,843,000 $ 7,122,000      
Deferred loan costs, accumulated amortization                           1,105,000 1,818,000      
Number of swaps terminated | swap   4   3                            
Notional amount of terminated swaps   $ 150,000,000   $ 65,000,000                            
Proceeds from termination payments, net of fees                           1,011,000        
Payment of derivative fees and accrued interest                           38,000        
Payment of mortgages payable                           65,877,000 4,354,000 $ 77,056,000    
Accrued interest and unused commitment fee payable                           2,098,000 3,133,000      
Unsecured credit facility entered into in September 2014                                    
Debt                                    
Maximum borrowing capacity                         $ 850,000,000          
Number of extension options | extension_option                         2          
Line of credit facility extension option term                         1 year          
Extension fee                                 $ 300,000  
Long-term Line of Credit                           0 0      
Amount available for future borrowings                           97,000,000 200,000,000      
Unsecured credit facility entered into in September 2014, revolver                                    
Debt                                    
Maximum borrowing capacity                         $ 450,000,000 200,000,000        
Unsecured credit facility entered into in September 2014, revolver | Minimum                                    
Debt                                    
Unused commitment fee                         0.15%          
Unsecured credit facility entered into in September 2014, revolver | Maximum                                    
Debt                                    
Unused commitment fee                         0.25%          
Unsecured credit facility entered into in September 2014, revolver | LIBOR | Minimum                                    
Debt                                    
Interest rate margin                         1.20%          
Unsecured credit facility entered into in September 2014, revolver | LIBOR | Maximum                                    
Debt                                    
Interest rate margin                         2.00%          
Unsecured credit facility entered into in September 2014, revolver | Base rate | Minimum                                    
Debt                                    
Interest rate margin                         0.20%          
Unsecured credit facility entered into in September 2014, revolver | Base rate | Maximum                                    
Debt                                    
Interest rate margin                         1.00%          
Unsecured credit facility entered into in September 2014, term loan                                    
Debt                                    
Maximum borrowing capacity                         $ 325,000,000          
Unsecured credit facility entered into in September 2014, term loan | LIBOR | Minimum                                    
Debt                                    
Interest rate margin                         1.15%          
Unsecured credit facility entered into in September 2014, term loan | LIBOR | Maximum                                    
Debt                                    
Interest rate margin                         1.95%          
Unsecured credit facility entered into in September 2014, term loan | Base rate | Minimum                                    
Debt                                    
Interest rate margin                         0.15%          
Unsecured credit facility entered into in September 2014, term loan | Base rate | Maximum                                    
Debt                                    
Interest rate margin                         0.95%          
Unsecured credit facility entered into in September 2014, delayed-draw term loan                                    
Debt                                    
Maximum borrowing capacity                         $ 75,000,000          
Unused commitment fee                         0.25%          
Mortgages payable                                    
Debt                                    
Number of mortgage loan agreements entered into | agreement                     6              
Amount of loan                     $ 392,000,000              
Mortgages paid off | swap               2                    
Unsecured Term Loan Facility Entered Into May 2015                                    
Debt                                    
Deferred loan costs, accumulated amortization   512,000   193,000                            
Maximum borrowing capacity                       $ 385,000,000            
Unused commitment fee                       0.20%            
Amount of loan                           $ 170,000,000 $ 385,000,000     $ 385,000,000
Interest rate                           2.96% 2.22%      
Fixed interest rate                           3.16%        
Repayments of debt   150,000,000   65,000,000                            
Write off of deferred loan costs   $ 1,387,000   $ 601,000                            
Unsecured Term Loan Facility Entered Into May 2015 | LIBOR | Minimum                                    
Debt                                    
Interest rate margin                       1.60%            
Unsecured Term Loan Facility Entered Into May 2015 | LIBOR | Maximum                                    
Debt                                    
Interest rate margin                       2.25%            
Unsecured Term Loan Facility Entered Into May 2015 | Base rate | Minimum                                    
Debt                                    
Interest rate margin                       0.60%            
Unsecured Term Loan Facility Entered Into May 2015 | Base rate | Maximum                                    
Debt                                    
Interest rate margin                       1.25%            
Disposal Group, Disposed of by Sale, Not Discontinued Operations                                    
Debt                                    
Payment of mortgages payable               $ 58,873,000 $ 12,364,000                  
Disposal Group, Held-for-sale, Not Discontinued Operations | Mortgage loans with a fixed interest rate of 4.14% per annum, with monthly payments of interest only, and balances totaling $370,300,000 due on July 1, 2026. The loans are nonrecourse. In September 2017, one loan with an outstanding principal balance of $21,700,000 was assumed by the buyer in connection with the sale of the property that was collateral for the loan (Note 3).                                    
Debt                                    
Mortgage assumed by buyer                   $ 21,700,000                
211 Main Street, San Francisco, CA | Disposal Group, Disposed of by Sale, Not Discontinued Operations                                    
Debt                                    
Payment of mortgages payable             $ 25,331,000                      
Mortgage prepayment penalty             $ 1,508,000                      
3636 McKinney Avenue and 3839 McKinney Avenue, Dallas, Texas | Disposal Group, Disposed of by Sale, Not Discontinued Operations                                    
Debt                                    
Payment of mortgages payable           $ 15,448,000                        
Mortgage prepayment penalty           $ 1,901,000                        
4649 Cole Avenue, Dallas, TX | Disposal Group, Disposed of by Sale, Not Discontinued Operations                                    
Debt                                    
Payment of mortgages payable         $ 23,333,000                          
Mortgage prepayment penalty         $ 2,812,000                          
7083 Hollywood Boulevard | Disposal Group, Held-for-sale, Not Discontinued Operations                                    
Debt                                    
Mortgage assumed by buyer     $ 21,700,000                              
4200 Scotland Street, Houston, TX | Disposal Group, Held-for-sale, Not Discontinued Operations                                    
Debt                                    
Mortgage assumed by buyer $ 28,560,000