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Transactions with Related Parties
3 Months Ended
Mar. 31, 2020
Related Party Transactions [Abstract]  
Transactions with Related Parties

18.Transactions with Related Parties

We have agreements with Building Maintenance Services ("BMS"), an entity in which we have a minor preferred interest, to supervise cleaning, engineering and security services at our properties. We paid BMS $5.3 million and $5.2 million during the three months ended March 31, 2020 and 2019, which is included in "Property operating expenses" in our statements of operations.

Our third-party asset management and real estate services business provides fee-based real estate services to third parties, the JBG Legacy Funds and the Washington Housing Initiative ("WHI"). We provide services for the benefit of the JBG Legacy Funds that own interests in the assets retained by the JBG Legacy Funds. In connection with the contribution to us of the assets formerly owned by the JBG Legacy Funds as part of the Formation Transaction, the general partner and managing member interests in the JBG Legacy Funds that were held by certain former JBG executives (and who became members of our management team and/or Board of Trustees) were not transferred to us and remain under the control of these individuals. In addition, certain members of our senior management and Board of Trustees have an ownership interest in the JBG Legacy Funds and own carried interests in each fund and in certain of our real estate ventures that entitle them to receive cash payments if the fund or real estate venture achieves certain return thresholds.

The WHI was launched by us and the Federal City Council in June 2018 as a scalable market-driven model that uses private capital to help address the scarcity of housing for middle income families. We are the manager for the WHI Impact Pool, which is the social impact investment vehicle of the WHI. As of March 31, 2020, the WHI Impact Pool had completed closings of capital commitments totaling $104.8 million, which included a commitment from us of $10.2 million.

The third-party real estate services revenue, including expense reimbursements, from the JBG Legacy Funds and the WHI Impact Pool was $8.0 million and $8.4 million for the three months ended March 31, 2020 and 2019. As of March 31, 2020 and December 31, 2019, we had receivables from the JBG Legacy Funds and the WHI Impact Pool totaling $8.3 million and $6.2 million for such services.

We rented our former corporate offices from an unconsolidated real estate venture and made payments totaling $1.3 million and $1.2 million for the three months ended March 31, 2020 and 2019. In November 2019, we relocated our corporate headquarters. Upon the relocation of our corporate headquarters, we impaired the right-of-use asset due to our change in the use of the asset.