XML 98 R78.htm IDEA: XBRL DOCUMENT v3.22.2
Fair Value Measurements (Summary of Derivative Instruments) (Details) - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2022
Dec. 31, 2021
Jul. 22, 2022
Jun. 28, 2022
Matures in May 2028 | Office | 555 California Street        
Derivative [Line Items]        
Equity method ownership percentage 70.00% 70.00%    
Debt instrument, amount $ 1,200,000,000 $ 1,200,000,000    
Matures in July 2027 | 770 Broadway        
Derivative [Line Items]        
Debt instrument, amount       $ 700,000,000
Debt instrument, face amount, swapped to fixed interest rate       $ 350,000,000
Debt instrument, interest rate, stated percentage (percent)       5.11%
Interest rate, effective percentage 3.75%      
Matures in July 2027 | 770 Broadway | Subsequent Event        
Derivative [Line Items]        
Debt instrument, face amount, swapped to fixed interest rate     $ 350,000,000  
Debt instrument, interest rate, stated percentage (percent)     4.85%  
Interest rate, effective percentage     4.98%  
Interest rate swaps | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Liability, Fair Value   32,837,000    
Derivative liability, notional amount   850,000,000    
Interest rate swaps | 555 California Mortgage Loan Interest Rate Swap | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value $ 42,763,000 11,814,000    
Derivative Asset, Notional Amount $ 840,000,000 $ 840,000,000    
Derivative, Interest Rate 3.26% 2.04%    
Derivative, swap rate 2.26% 2.26%    
Interest rate swaps | 555 California Mortgage Loan Interest Rate Swap | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative expiration date 2024-05 2024-05    
Interest rate swaps | PENN 11 mortgage loan interest rate swap | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value $ 23,609,000 $ 6,565,000    
Derivative Asset, Notional Amount $ 500,000,000 $ 500,000,000    
Derivative, Interest Rate 3.07% 2.05%    
Derivative, swap rate 2.23% 2.23%    
Derivative expiration date 2024-03 2024-03    
Interest rate swaps | Unsecured term loan | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value $ 2,497,000      
Derivative Asset, Notional Amount $ 750,000,000      
Derivative, Interest Rate 2.83%      
Derivative, swap rate 4.05%      
Derivative expiration date 2023-10      
Interest rate swaps | Unsecured term loan | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Liability, Fair Value   $ 28,976,000    
Derivative liability, notional amount   $ 750,000,000    
Derivative, Interest Rate   1.10%    
Derivative, swap rate   3.87%    
Derivative expiration date   2023-10    
Interest rate swaps | 4 Union Square South mortgage loan | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value $ 1,613,000      
Derivative Asset, Notional Amount $ 100,000,000      
Derivative, Interest Rate 2.46%      
Derivative, swap rate 3.74%      
Derivative expiration date 2025-01      
Interest rate swaps | 770 Broadway | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Liability, Fair Value $ 1,756,000      
Derivative liability, notional amount $ 350,000,000      
Derivative, Interest Rate 3.75%      
Derivative, swap rate 5.11%      
Derivative expiration date 2027-07      
Interest rate swaps | 33-00 Northern Boulevard mortgage loan interest rate swap | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Liability, Fair Value   $ 3,861,000    
Derivative liability, notional amount   $ 100,000,000    
Derivative, Interest Rate   1.91%    
Derivative, swap rate   4.14%    
Derivative expiration date   2025-01    
Interest rate swaps | Secured Overnight Financing Rate (SOFR) | Unsecured term loan | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 0.013%      
Interest rate swaps | Secured Overnight Financing Rate (SOFR) | 770 Broadway | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 0.0225%      
Interest rate swaps | LIBOR | 555 California Mortgage Loan Interest Rate Swap | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 0.0193% 0.0193%    
Interest rate swaps | LIBOR | PENN 11 mortgage loan interest rate swap | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 0.0195% 0.0195%    
Interest rate swaps | LIBOR | Unsecured term loan | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate   0.01%    
Interest rate swaps | LIBOR | 4 Union Square South mortgage loan | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 0.014%      
Interest rate swaps | LIBOR | 33-00 Northern Boulevard mortgage loan interest rate swap | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate   0.018%    
Interest Rate Cap | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value $ 74,039,000 $ 18,929,000    
Derivative Asset, Notional Amount 3,840,000,000 2,990,000,000    
Interest Rate Cap | Various interest rate caps | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative Asset, Fair Value 3,557,000 550,000    
Derivative Asset, Notional Amount 1,650,000,000 1,650,000,000    
Floating | Interest rate swaps | Unsecured term loan | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative liability, notional amount 50,000,000 $ 50,000,000    
Floating | Interest rate swaps | 4 Union Square South mortgage loan | Other Assets | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative liability, notional amount $ 20,000,000      
Derivative, Basis Spread on Variable Rate 1.40%      
Floating | Interest rate swaps | Secured Overnight Financing Rate (SOFR) | Unsecured term loan | Other liabilities | Designated as Hedging Instrument        
Derivative [Line Items]        
Derivative, Basis Spread on Variable Rate 1.30% 1.30%