Segment Information (Tables)

12 Months Ended

Dec. 31, 2017

Segment Reporting [Abstract]

Reconciliation Of Revenues And Operating Profit Loss From Segments To Consolidated

The revenues and net operating income for each of the reportable operating segments are summarized as follows for the years ended December 31, 2017, 2016, and 2015 ($ in thousands):

	Years Ended December 31,
	2017			2016			2015
Revenues:
Southern California	$	596,217		$	561,094		$	507,536
Northern California	505,313			453,140			407,590
Seattle Metro	229,871			217,259			201,417
Other real estate assets	22,924			54,230			68,955
Total property revenues	$	1,354,325		$	1,285,723		$	1,185,498
Net operating income:
Southern California	$	409,133		$	382,312		$	340,797
Northern California	363,238			325,394			291,168
Seattle Metro	156,404			148,279			136,579
Other real estate assets	20,008			40,811			53,446
Total net operating income	948,783			896,796			821,990
Management and other fees from affiliates	9,574			8,278			8,909
Depreciation and amortization	(468,881		)	(441,682		)	(453,423		)
General and administrative	(41,385		)	(40,751		)	(40,090		)
Merger and integration expenses	—			—			(3,798		)
Acquisition and investment related costs	(1,569		)	(1,841		)	(2,414		)
Interest expense	(222,894		)	(219,654		)	(204,827		)
Total return swap income	10,098			11,716			5,655
Interest and other income	24,604			27,305			19,143
Equity income from co-investments	86,445			48,698			21,861
Loss on early retirement of debt	(1,796		)	(606		)	(6,114		)
Gain on sale of real estate and land	26,423			154,561			47,333
Deferred tax expense on gain on sale of real estate and land	—			(4,410		)	—
Gain on remeasurement of co-investment	88,641			—			34,014
Net income	$	458,043		$	438,410		$	248,239

Reconciliation of Assets from Segment to Consolidated

Total assets for each of the reportable operating segments are summarized as follows as of December 31, 2017 and 2016 ($ in thousands):

	As of December 31,
Assets:	2017		2016
Southern California	$	4,788,225	$	4,924,792
Northern California	4,215,449		3,791,549
Seattle Metro	1,520,372		1,570,340
Other real estate assets	55,488		78,079
Net reportable operating segments - real estate assets	10,579,534		10,364,760
Real estate under development	355,735		190,505
Co-investments	1,155,984		1,161,275
Real estate held for sale, net	—		101,957
Cash and cash equivalents, including restricted cash	61,126		170,302
Marketable securities	190,004		139,189
Notes and other receivables	100,926		40,970
Prepaid expenses and other assets	52,397		48,450
Total assets	$	12,495,706	$	12,217,408