Share-Based Payments (Tables)

3 Months Ended

Mar. 31, 2022

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of share-based compensation expense

	Three Months Ended March 31,
	2022		2021
	(In thousands)
Time-Based LTIP Units	$	6,126	$	4,380
AO LTIP Units and Performance-Based LTIP Units		4,157		3,239
Other equity awards (1)		1,427		1,463
Share-based compensation expense - other		11,710		9,082
Formation Awards		374		729
OP Units and LTIP Units (2)		583		2,784
Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3)		1,287		1,432
Share-based compensation related to Formation Transaction and special equity awards (4)		2,244		4,945
Total share-based compensation expense		13,954		14,027
Less: amount capitalized		(1,050)		(791)
Share-based compensation expense	$	12,904	$	13,236

(1) Primarily comprising compensation expense for: (i) fully vested LTIP Units issued to certain employees in lieu of all or a portion of any cash bonuses earned, (ii) restricted share units ("RSUs") and (iii) shares issued under our ESPP.

(2) Represents share-based compensation expense for LTIP Units and OP Units issued in the Formation Transaction, which are subject to post-Combination employment obligations.

(3) Represents equity awards issued related to our successful pursuit of Amazon's additional headquarters in National Landing.

(4) Included in "General and administrative expense: Share-based compensation related to Formation Transaction and special equity awards" in the accompanying statements of operations.

AO LTIP Units

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of of the significant assumptions of awards

Expected volatility	27.0%
Dividend yield	2.7%
Risk-free interest rate	1.6%

LTIP and Time-Based LTIP Units [Member]

Share-based Compensation Arrangement by Share-based Payment Award [Line Items]

Summary of of the significant assumptions of awards

Expected volatility	41.0%
Risk-free interest rate	0.4% to 1.5%
Post-grant restriction periods	2 years