Segments Disclosure (Tables)

9 Months Ended

Sep. 30, 2016

Schedule of Each Reportable Segment Information

The following tables provide NOI for each reportable segment for the three and nine months ended September 30, 2016 and 2015.

	For the Three Months Ended September 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	167,342		$	113,029		$	22,229		$	31,441		$	643
Property-related operating expenses		(64,025	)		(45,748	)		(8,322	)		(7,994	)		(1,961	)
NOI from unconsolidated joint ventures		3,974			3,893			-			-			81
NOI⁽¹⁾	$	107,291		$	71,174		$	13,907		$	23,447		$	(1,237	)

	For the Three Months Ended September 30, 2015
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	165,641		$	114,747		$	21,117		$	29,156		$	621
Property-related operating expenses		(63,354	)		(45,709	)		(8,285	)		(7,267	)		(2,093	)
NOI from unconsolidated joint ventures		4,303			4,210			-			-			93
NOI⁽¹⁾	$	106,590		$	73,248		$	12,832		$	21,889		$	(1,379	)

	For the Nine Months Ended September 30, 2016
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	504,971		$	346,683		$	63,689		$	92,762		$	1,837
Property-related operating expenses		(186,964	)		(132,428	)		(24,691	)		(22,426	)		(7,419	)
NOI from unconsolidated joint ventures		12,938			12,696			-			-			242
NOI⁽¹⁾	$	330,945		$	226,951		$	38,998		$	70,336		$	(5,340	)

	For the Nine Months Ended September 30, 2015
(Amounts in thousands)	Total			New York			Washington, D.C.			San Francisco			Other
Property-related revenues	$	486,480		$	339,418		$	61,341		$	83,820		$	1,901
Property-related operating expenses		(183,019	)		(131,412	)		(23,989	)		(21,061	)		(6,557	)
NOI from unconsolidated joint ventures		12,362			12,084			-			-			278
NOI⁽¹⁾	$	315,823		$	220,090		$	37,352		$	62,759		$	(4,378	)

⁽¹⁾

Net Operating Income (“NOI”) is used to measure the operating performance of a property. NOI consists of property-related revenue (which includes rental income, tenant reimbursement income and certain other income) less operating expenses (which includes building expenses such as cleaning, security, repairs and maintenance, utilities, property administration and real estate taxes). We use NOI internally as a performance measure and believe it provides useful information to investors regarding our financial condition and results of operations because it reflects only those income and expense items that are incurred at the property level. Other real estate companies may use different methodologies for calculating NOI, and accordingly, our presentation of NOI may not be comparable to other real estate companies.

Schedule of Reconciliation of NOI to Net (Loss) Income Attributable to Common Stockholders

The following table provides a reconciliation of NOI to net (loss) income attributable to common stockholders for the three and nine months ended September 30, 2016 and 2015.

	For the Three Months Ended September 30,						For the Nine Months Ended September 30,
(Amounts in thousands)	2016			2015			2016			2015
NOI	$	107,291		$	106,590		$	330,945		$	315,823
Add (subtract) adjustments to arrive to net income (loss):
Fee income		3,976			2,085			11,568			5,400
Depreciation and amortization expense		(66,376	)		(70,654	)		(208,475	)		(223,658	)
General and administrative expenses		(13,235	)		(6,666	)		(39,335	)		(28,412	)
Acquisition and transaction related costs		(282	)		(485	)		(1,725	)		(3,960	)
Transfer taxes due in connection with the sale of shares by a former joint venture partner		-			-			-			(5,872	)
NOI from unconsolidated joint ventures		(3,974	)		(4,303	)		(12,938	)		(12,362	)
Income from unconsolidated joint ventures		1,792			1,458			5,291			4,444
Income from real estate fund investments		-			10,933			-			30,226
Loss from unconsolidated real estate funds		(1,254	)		-			(2,540	)		-
Interest and other income (loss), net		2,299			(1,763	)		5,029			(397	)
Interest and debt expense		(38,278	)		(42,821	)		(113,406	)		(126,945	)
Unrealized gain on interest rate swaps		12,728			15,772			29,661			49,497
Net income before income taxes		4,687			10,146			4,075			3,784
Income tax (expense) benefit		(218	)		(789	)		817			(2,706	)
Net income		4,469			9,357			4,892			1,078
Less: net (income) loss attributable to noncontrolling interests in:
Consolidated real estate funds		67			(7,936	)		819			(16,677	)
Consolidated joint ventures		(4,703	)		(33	)		(10,062	)		(964	)
Operating Partnership		28			(272	)		906			3,239
Net (loss) income attributable to common stockholders	$	(139	)	$	1,116		$	(3,445	)	$	(13,324	)

Schedule of Selected Balance Sheet Data for Each Reportable Segments Information

The following table provides the selected balance sheet data for each of our reportable segments as of September 30, 2016.

(Amounts in thousands)	As of September 30, 2016
Balance Sheet Data:	Total		New York		Washington, D.C.		San Francisco		Other
Total assets	$	8,340,048	$	5,621,258	$	1,065,587	$	1,366,539	$	286,664
Total liabilities		3,477,758		1,936,170		406,449		970,826		164,313
Total equity		4,862,290		3,685,088		659,138		395,713		122,351