Share-Based Payments and Employee Benefits (Tables)

12 Months Ended

Dec. 31, 2023

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

Schedule of RSU activity

	Time-Based RSUs			Performance-Based RSUs
		Weighted			Weighted
	Unvested	Average Grant-		Unvested	Average Grant-
	Shares	Date Fair Value		Shares	Date Fair Value
Unvested as of December 31, 2022	48,514	$	30.04	13,516	$	15.16
Granted	78,681		18.94	—		—
Vested	(45,019)		24.24	—		—
Forfeited	(11,426)		23.39	(13,516)		15.16
Unvested as of December 31, 2023	70,750		22.46	—		—

Summary of share-based compensation expense

	Year Ended December 31,
	2023		2022		2021
	(In thousands)
Time-Based LTIP Units	$	16,822	$	19,378	$	16,705
AO LTIP Units and Performance-Based LTIP Units		10,647		12,615		13,101
LTIP Units		1,000		1,000		1,091
Other equity awards (1)		5,394		6,610		7,355
Share-based compensation expense - other		33,863		39,603		38,252
Formation Awards, OP Units and LTIP Units (2)		108		2,156		10,801
Special Time-Based LTIP Units and Special Performance-Based LTIP Units (3)		441		3,235		5,524
Share-based compensation related to Formation Transaction and special equity awards (4)		549		5,391		16,325
Total share-based compensation expense		34,412		44,994		54,577
Less: amount capitalized		(2,312)		(3,722)		(3,026)
Share-based compensation expense	$	32,100	$	41,272	$	51,551

(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) RSUs and (iii) shares issued under our ESPP.

(2) Includes share-based compensation expense for Formation Awards, 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 consolidated statements of operations.

Performance LTIP Units

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

Summary of the significant assumptions of awards

	Year Ended December 31,
	2022	2021
Expected volatility	28.0%	31.0% to 34.0%
Dividend yield	2.7%	2.6%
Risk-free interest rate	1.5%	0.2% to 1.0%

Summary of activity

		Weighted
	Unvested	Average Grant-
	Shares	Date Fair Value
Unvested as of December 31, 2022	1,957,748	$	19.33
Forfeited (1)	(1,191,918)		17.23
Unvested as of December 31, 2023	765,830		22.58

LTIP, Time-Based LTIP and Special Time-Based LTIP Units

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

Summary of the significant assumptions of awards

	Year Ended December 31,
	2023	2022	2021
Expected volatility	26.0% to 31.0%	30.0% to 41.0%	34.0% to 39.0%
Risk-free interest rate	3.4% to 4.9%	0.4% to 2.9%	0.1% to 0.4%
Post-grant restriction periods	2 to 6 years	2 to 6 years	2 to 3 years

Summary of activity

		Weighted
	Unvested	Average Grant-
	Shares	Date Fair Value
Unvested as of December 31, 2022	1,827,563	$	31.01
Granted	1,415,003		16.54
Vested	(1,131,006)		24.74
Forfeited	(245,848)		25.10
Unvested as of December 31, 2023	1,865,712		24.62

AO LTIP Units [Member]

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

Summary of the significant assumptions of awards

	Year Ended December 31,
	2023	2022
Expected volatility	30.0%	27.0%
Dividend yield	3.2%	2.7%
Risk-free interest rate	4.1%	1.6%

Summary of activity

		Weighted
	Unvested	Average Grant-
	Shares	Date Fair Value
Unvested as of December 31, 2022	1,481,593	$	4.44
Granted	1,710,246		3.73
Forfeited	(91,889)		3.74
Unvested as of December 31, 2023	3,099,950		4.07

ESPP

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

Summary of the significant assumptions of awards

	Year Ended December 31,
	2023	2022	2021
Expected volatility	30.0% to 37.0%	23.0% to 30.0%	22.0% to 39.0%
Dividend yield	2.4% to 6.3%	1.6% to 4.1%	1.5% to 3.1%
Risk-free interest rate	4.7% to 5.4%	0.2% to 2.4%	0.1%
Expected life	6 months	6 months	6 months