Assets and Liabilities Measured at Fair Value (Tables)

12 Months Ended

Dec. 31, 2015

Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]

Schedule of assets measured at fair value on a nonrecurring basis

The following fair value hierarchy table presents information about our assets measured at fair value on a nonrecurring basis during the periods presented (in thousands):

As of December 31, 2015	Level 1		Level 2		Level 3		Total Fair Value		Loss
Assets
Buildings and improvements, net(1)	$	—	$	—	$	29,500	$	29,500	$	(4,778	)
Land and improvements, net(2)	—		—		19,606		19,606		(6,762		)
Condominium inventory (one remaining finished unit)(3)	—		—		2,201		2,201		(761		)

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(1) During the year ended December 31, 2015, we recorded non-cash impairments of $2.1 million and $2.7 million associated with our Northborough Tower and Northpoint Central office buildings.

(2) In the third quarter of 2015, we recorded a $6.8 million non-cash impairment associated with our Frisco land.

(3) During 2015, we recorded non-cash impairment charges totaling approximately $0.7 million associated with our one remaining condominium unit at Chase — The Private Residences.

As of December 31, 2014	Level 1		Level 2		Level 3		Total Fair Value		Loss(1)
Assets
Buildings and improvements, net	$	—	$	—	$	19,397	$	19,397	$	(9,371	)

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(1) In the fourth quarter of 2014, we recorded an impairment of $9.4 million associated with our Northborough office building.

Quantitative Information about Level 3 Fair Value Measurements

Description	Fair Value at December 31, 2015 (in 000s)		Valuation Techniques	Unobservable Input	Range (Weighted Average)
Buildings and improvements, net(1)	$	29,500	Discounted cash flow	Discount rate Terminal capitalization rate Market rent growth Expense growth rate	7.75% - 11.50% 8.00% - 9.75% 0% - 3.00% 0% - 3.00%
Land and improvements, net(2)	$	19,606	Market comparable	Lot price Inflation rate Discount rate	$20 - $45 psf 0% - 3.00% 12.50% - 20.00%
Condominium inventory (one remaining finished unit)(3)	$	2,201	Market comparable	List price for unit; due to limited market comparables	$511 to $555  per square feet

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(1) In the third quarter of 2015, we recorded non-cash impairments of $2.1 million and $2.7 million associated with our Northborough Tower and Northpoint Central office buildings.

(2) In the third quarter of 2015, we recorded a $6.8 million non-cash impairment associated with our Frisco land.

(3) In the second quarter of 2015, we recorded a non-cash impairment of $0.6 million associated with our one remaining condominium unit at Chase — The Private Residences. We recorded an additional $0.1 million non-cash impairment for the condominium unit in the fourth quarter of 2015, based on offers received during the marketing process.

Description	Fair Value at December 31, 2014 (in 000s)		Valuation Techniques	Unobservable Input	Range (Weighted Average)
Buildings and improvements, net(1)	$	19,397	Discounted cash flow	Discount rate Terminal capitalization rate Market rent growth Expense growth rate	9.75% 8.75% 0% - 3.00% 0% - 3.00%

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(1) Due to a change in the estimated hold period of our Northborough Tower office building, we evaluated the asset for recoverability, and as a result, recorded a non-cash impairment of $9.4 million during the year ended December 31, 2014.