Unconsolidated Joint Ventures

3 Months Ended

Mar. 31, 2016

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments and Joint Ventures Disclosure [Text Block]

Unconsolidated Joint Ventures

Liberty Washington, LP

During the three months ended March 31, 2016, Liberty Washington LP (a joint venture in which the Company holds a 25% interest) sold three properties located in the Company's Northern Virginia reportable segment containing 601,000 square feet for $80.5 million.

In addition, during the three months ended March 31, 2016, four properties in the Company's Northern Virginia reportable segment containing 449,000 square feet were transferred to the mortgage lender in full satisfaction of a $66.1 million nonrecourse mortgage loan that was secured by the properties. The Company's share of gain from property dispositions and extinguishment of debt is included in equity in earnings of unconsolidated joint ventures in the accompanying consolidated statements of comprehensive income.

The Company's share of gain from extinguishment of debt was $912,000 and its share of gain on property dispositions was $1.8 million.

As of March 31, 2016 the joint venture was in default of a $46.4 million non-recourse mortgage loan related to certain properties within the joint venture located in the Company's Northern Virginia reportable segment.