Segment Information (Tables)

12 Months Ended

Dec. 31, 2018

Segment Reporting [Abstract]

Reconciliation Of Revenues And Operating Profit Loss From Segments To Consolidated

The revenues and NOI for each of the reportable operating segments are summarized as follows for the years ended December 31, 2018, 2017, and 2016 ($ in thousands):

	Years Ended December 31,
	2018			2017			2016
Revenues:
Southern California	$	592,281		$	574,552		$	540,000
Northern California	522,561			505,313			453,140
Seattle Metro	236,525			229,871			217,259
Other real estate assets	39,503			44,589			75,324
Total property revenues	$	1,390,870		$	1,354,325		$	1,285,723
Net operating income:
Southern California	$	421,613		$	408,070		$	381,212
Northern California	386,401			371,795			333,757
Seattle Metro	165,397			162,253			154,147
Other real estate assets	32,125			36,821			57,790
Total net operating income	1,005,536			978,939			926,906
Management and other fees from affiliates	9,183			9,574			8,278
Corporate-level property management expenses	(31,062		)	(30,156		)	(30,110		)
Depreciation and amortization	(479,884		)	(468,881		)	(441,682		)
General and administrative	(53,451		)	(41,385		)	(40,751		)
Expensed acquisition and investment related costs	(194		)	(1,569		)	(1,841		)
Interest expense	(220,492		)	(222,894		)	(219,654		)
Total return swap income	8,707			10,098			11,716
Interest and other income	23,010			24,604			27,305
Equity income from co-investments	89,132			86,445			48,698
Loss on early retirement of debt	—			(1,796		)	(606		)
Gain on sale of real estate and land	61,861			26,423			154,561
Deferred tax expense on gain on sale of real estate and land	—			—			(4,410		)
Gain on remeasurement of co-investment	1,253			88,641			—
Net income	$	413,599		$	458,043		$	438,410

Reconciliation of Assets from Segment to Consolidated

Total assets for each of the reportable operating segments are summarized as follows as of December 31, 2018 and 2017 ($ in thousands):

	As of December 31,
	2018		2017
Assets:
Southern California	$	4,350,377	$	4,504,930
Northern California	4,270,238		4,220,551
Seattle Metro	1,472,916		1,522,452
Other real estate assets	63,022		344,843
Net reportable operating segments - real estate assets	10,156,553		10,592,776
Real estate under development	454,629		355,735
Co-investments	1,300,140		1,155,984
Cash and cash equivalents, including restricted cash	151,395		61,126
Marketable securities	209,545		190,004
Notes and other receivables	71,895		100,926
Prepaid expenses and other assets	39,439		39,155
Total assets	$	12,383,596	$	12,495,706