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Investment in Unconsolidated Ventures (Tables)
 12 Months Ended
Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]  
Schedule of Equity Method Investments [Table Text Block]
The Company’s investment in Real Estate Ventures as of December 31, 2013 and the Company’s share of the Real Estate Ventures’ income (loss) for the year ended December 31, 2013 was as follows (in thousands):
 
Ownership
Percentage (a)
 
Carrying
Amount
 
Company’s Share
of 2013 Real
Estate Venture
Income (Loss)
 
Real Estate
Venture
Debt at 100%
 
Current
Interest
Rate
 
Debt
Maturity
Broadmoor Austin Associates (f)
50
%
 
$
65,867

 
$
(52
)
 
$
56,616

 
7.04
%
 
Apr-23
Brandywine-AI Venture LLC
50
%
 
46,406

 
130

 
134,500

 
3.92
%
 
(b)
DRA (G&I) Austin (f)
50
%
 
17,262

 
(434
)
 
230,600

 
3.39
%
 
(c)
HSRE-Campus Crest IX, LLC (f)
30
%
 
13,761

 
—

 
966

 
L+2.20%

 
Jul-16
4040 Wilson LLC
50
%
 
13,499

 
—

 
—

 
N/A

 
N/A
TB-BDN Plymouth Apartments
50
%
 
12,402

 
5

 
—

 
L+1.70%

 
Dec-17
Brandywine 1919 Ventures
50
%
 
6,214

 
—

 
—

 
N/A

 
N/A
1000 Chesterbrook Blvd.
50
%
 
2,064

 
461

 
24,861

 
4.75
%
 
Dec-21
Four Tower Bridge
65
%
 
1,617

 
320

 
10,535

 
5.20
%
 
Feb-21
PJP VII
25
%
 
783

 
239

 
6,250

 
L+2.65%

 
Dec-19
Residence Inn Tower Bridge
50
%
 
742

 
326

 
13,700

 
5.63
%
 
Feb-16
Seven Tower Bridge
20
%
 
447

 
—

 
11,035

 
4.22
%
 
(d)
PJP II
30
%
 
330

 
(87
)
 
3,765

 
6.12
%
 
Nov-23
PJP V
25
%
 
175

 
158

 
5,437

 
6.47
%
 
Aug-19
PJP VI
25
%
 
112

 
70

 
8,404

 
6.08
%
 
Apr-23
BDN Beacon Venture LLC (i)
20
%
 
—

 
907

 
—

 
N/A

 
N/A
Six Tower Bridge (g)
63
%
 
—

 
165

 
—

 
N/A

 
N/A
One Commerce Square (h)
25
%
 
—

 
933

 
—

 
N/A

 
N/A
Two Commerce Square (h)
25
%
 
—

 
614

 
—

 
N/A

 
N/A
G&I Interchange Office LLC (DRA — N. PA) (e) (f)
20
%
 
—

 
(619
)
 
177,207

 
5.78
%
 
Jan-15
Two Tower Bridge (i)
35
%
 
—

 
265

 
—

 
N/A

 
N/A
Coppell Associates
50
%
 
(1,169
)
 
(78
)
 
15,984

 
5.75
%
 
Feb-16
Eight Tower Bridge (i)
 
 
—

 
3

 
—

 
 
 
 
Invesco, L.P. (i)
 
 
—

 
338

 
—

 
 
 
 
 
 
 
$
180,512

 
$
3,664

 
$
699,860

 
 
 
 

(a)
Ownership percentage represents the Company's entitlement to residual distributions after payments of priority returns, where applicable.
(b)
The debt for these properties is comprised of three fixed rate mortgages: (1) $40.0 million with a 4.40% fixed interest rate due January 1, 2019, (2) $28.0 million with a 4.65% fixed interest rate due January 1, 2022, and (3) $66.5 million with a 3.22% fixed interest rate due August 1, 2019, resulting in a time and dollar weighted average rate of 3.92%.
(c)
The debt for these properties is comprised of three mortgages: (1) $34.0 million with a 3.52% interest rate due November 1, 2018, (2) $56.0 million with a 3.19% interest rate due October 15, 2018, and (3) $140.6 million with a rate of 3.44% fixed interest rate due November 1, 2018, resulting in a time and dollar weighted average rate of 3.39%.
(d)
Comprised of two fixed rate mortgages totaling $8.0 million that mature on February 8, 2015 and accrue interest at a current rate of 6% (increasing by 1% annually through maturity), a $1.0 million 3% fixed rate loan with interest only through its September 1, 2025 maturity, and a $2.0 million 4% fixed rate loan with interest only through its February 7, 2016 maturity, resulting in a time and dollar weighted average rate of 4.22%.
(e)
Proceeds received by the Company from the sale of an 80% ownership stake in the properties exceeded the historical cost of those properties. No investment in the real estate venture was reflected on the balance sheet at formation.
(f)
The basis differences associated with these ventures are allocated between cost and the underlying equity in the net assets of the investee and is accounted for as if the entity were consolidated (i.e., allocated to the Company’s relative share of assets and liabilities with an adjustment to recognize equity in earnings for the appropriate depreciation/amortization).
(g)
On June 19, 2013, we acquired ownership of Six Tower Bridge. Real estate venture income reflects our previous partnership interest for the year to date period through June 18, 2013.
(h)
On December 19, 2013, we increased our ownership interest in One and Two Commerce Square. The real estate venture income reflects our previous partnership interest for the year to date period through December 18, 2013.
(i)
The ownership interest in these properties was disposed of prior to December 31, 2013. For further information on BDN Beacon LLC, see the section entitled BDN Beacon Venture below. For further information on Two Tower Bridge, see the section entitled Two and Six Tower Bridge Exchange Transaction below.
Financial position of unconsolidated Real Estate Ventures
 
December 31,
2013
 
December 31,
2012
Net property
$
965,475

 
$
923,536

Other assets
164,152

 
174,677

Other liabilities
49,442

 
53,645

Debt
699,860

 
724,780

Equity
380,325

 
319,788

Company’s share of equity (Company’s basis)
180,512

 
193,555
Summary of results of operations of unconsolidated Real Estate Ventures
The following is a summary of results of operations of the Real Estate Ventures in which the Company had interests as of December 31, 2013, 2012 and 2011 (in thousands):
 
Years ended December 31,
 
2013
 
2012
 
2011
Revenue
$
102,919

 
$
164,013

 
$
145,867

Operating expenses
40,436

 
70,775

 
63,715

Interest expense, net
26,529

 
41,633

 
42,032

Depreciation and amortization
35,138

 
50,241

 
39,172

Net income
816

 
1,364

 
948

Company’s share of income (Company’s basis)
3,664

 
2,741

 
3,775
Schedule of Maturities of Long-term Debt [Table Text Block]
As of December 31, 2013, the aggregate principal payments of recourse and non-recourse debt payable to third-parties are as follows (in thousands):
2014
$
11,940

2015
191,304

2016
42,180

2017
13,937

2018
229,780

Thereafter
210,719

 
$
699,860