Share-Based Payments (Tables)

6 Months Ended

Jun. 30, 2022

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

Summary of share-based compensation expense

	Three Months Ended June 30,					Six Months Ended June 30,
	2022		2021		X	2022		2021
	(In thousands)
Time-Based LTIP Units	$	6,202	$	4,115		$	12,328	$	8,495
AO LTIP Units and Performance-Based LTIP Units		3,590		3,160			7,747		6,399
LTIP Units		1,000		1,091			1,000		1,091
Other equity awards (1)		1,399		1,459			2,826		2,922
Share-based compensation expense - other		12,191		9,825			23,901		18,907
Formation Awards		769		718			1,143		1,447
OP Units and LTIP Units (2)		248		2,265			831		5,049
Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3)		560		1,458			1,847		2,890
Share-based compensation related to Formation Transaction and special equity awards (4)		1,577		4,441			3,821		9,386
Total share-based compensation expense		13,768		14,266			27,722		28,293
Less: amount capitalized		(1,297)		(610)			(2,347)		(1,401)
Share-based compensation expense	$	12,471	$	13,656		$	25,375	$	26,892

(1) Primarily comprised of 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  fully vested in July 2022.

(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.

ESPP

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

Summary of of the significant assumptions of awards

Expected volatility	23.0%
Dividend yield	1.6%
Risk-free interest rate	0.2%
Expected life	6 months

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	30.0% to 41.0%
Risk-free interest rate	0.4% to 2.9%
Post-grant restriction periods	2 to 6 years