Annual report pursuant to Section 13 and 15(d)

Mortgages, Loans Payable And Other Obligations (Summary Of Mortgages, Loans Payable And Other Obligations) (Details)

v3.6.0.2
Mortgages, Loans Payable And Other Obligations (Summary Of Mortgages, Loans Payable And Other Obligations) (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Dec. 22, 2016
USD ($)
Dec. 05, 2016
USD ($)
May 05, 2016
USD ($)
Apr. 22, 2016
USD ($)
Oct. 31, 2016
item
Dec. 31, 2016
USD ($)
Sep. 30, 2016
USD ($)
Jun. 30, 2016
USD ($)
Dec. 31, 2016
USD ($)
property
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Feb. 03, 2017
Jul. 31, 2016
USD ($)
Debt Instrument [Line Items]                          
Principal balance outstanding           $ 2,340,009,000     $ 2,340,009,000 $ 2,145,393,000      
Repayment of mortgages, loans payable and other obligations                 349,426,000 43,133,000 $ 83,808,000    
Adjustment for unamortized debt discount           (4,430,000)     (4,430,000)        
Loss from extinguishment of debt, net           (23,658,000) $ (19,302,000) $ 12,420,000 12,420,000    
Secured Debt           $ 888,585,000     $ 888,585,000 726,611,000      
Minimum [Member]                          
Debt Instrument [Line Items]                          
Percentage of interest in venture           7.50%     7.50%        
Maximum [Member]                          
Debt Instrument [Line Items]                          
Percentage of interest in venture           85.00%     85.00%        
6 Becker, 85 Livingston, 75 Livingston & 20 Waterview [Member]                          
Debt Instrument [Line Items]                          
Repayment of mortgages, loans payable and other obligations       $ 51,500,000                  
Loss from extinguishment of debt, net       $ 12,400,000                  
9200 Edmonston Road [Member]                          
Debt Instrument [Line Items]                          
Gain on sale     $ 200,000                    
4 Becker [Member]                          
Debt Instrument [Line Items]                          
Gain on sale   $ 10,400,000                      
100 Walnut Avenue [Member]                          
Debt Instrument [Line Items]                          
Loss from extinguishment of debt, net $ 2,300,000                        
150 Main St [Member] | Construction Loan [Member]                          
Debt Instrument [Line Items]                          
Maximum borrowing capacity           $ 28,800,000     $ 28,800,000        
Curtis Center [Member]                          
Debt Instrument [Line Items]                          
Principal balance outstanding           $ 75,000,000     $ 75,000,000        
Percentage of interest in venture           50.00%     50.00%        
Number of extension options | item         3                
Loan extension period         1 year                
Curtis Center [Member] | Senior Loan [Member]                          
Debt Instrument [Line Items]                          
Effective rate           3.998%     3.998%        
Spread over LIBOR                 3.29%        
Percentage of interest in venture           50.00%     50.00%        
LIBOR measurement period                 1 month        
Secured Debt           $ 102,000,000     $ 102,000,000        
Curtis Center [Member] | Mezzanine Loan [Member]                          
Debt Instrument [Line Items]                          
Effective rate           10.204%     10.204%        
Spread over LIBOR                 9.50%        
Principal balance outstanding           $ 48,000,000     $ 48,000,000        
Percentage of interest in venture           50.00%     50.00%        
LIBOR measurement period                 1 month        
Port Imperial 4/5 Hotel [Member] | Construction Loan [Member]                          
Debt Instrument [Line Items]                          
Maximum borrowing capacity           $ 94,000,000     $ 94,000,000        
Chase II Project [Member] | Construction Loan [Member]                          
Debt Instrument [Line Items]                          
Maximum borrowing capacity           48,000,000     $ 48,000,000        
One River Center [Member]                          
Debt Instrument [Line Items]                          
Number of properties used to collateralized mortgage | property                 3        
Park Square [Member]                          
Debt Instrument [Line Items]                          
Deferred financing costs amortization interest rate                 0.122%        
Port Imperial South 11 [Member] | Construction Loan [Member]                          
Debt Instrument [Line Items]                          
Maximum borrowing capacity           78,000,000     $ 78,000,000        
Portside 7 [Member]                          
Debt Instrument [Line Items]                          
Principal balance outstanding                         $ 42,500,000
101 Hudson Street [Member] | Construction Loan [Member]                          
Debt Instrument [Line Items]                          
Deferred financing costs amortization interest rate                 0.0798%        
Subsequent Event [Member]                          
Debt Instrument [Line Items]                          
Percentage of interest in venture                       100.00%  
Secured Debt [Member]                          
Debt Instrument [Line Items]                          
Principal balance outstanding           896,055,000     $ 896,055,000 731,624,000      
Adjustment for unamortized debt discount               (548,000)      
Unamortized deferred financing costs           (7,470,000)     (7,470,000) (4,465,000)      
Total mortgages, loans payable and other obligations, net           888,585,000     $ 888,585,000 726,611,000      
Secured Debt [Member] | Port Imperial South [Member]                          
Debt Instrument [Line Items]                          
Property Name [1]                 Port Imperial South        
Lender [1]                 Wells Fargo Bank N.A.        
LIBOR [1],[2]                 LIBOR+1.75        
Spread over LIBOR                 1.75%        
Principal balance outstanding [1]               34,962,000      
Secured Debt [Member] | 6 Becker, 85 Livingston, 75 Livingston & 20 Waterview [Member]                          
Debt Instrument [Line Items]                          
Property Name [3]                 6 Becker, 85 Livingston, 75 Livingston & 20 Waterview        
Lender [3]                 Wells Fargo CMBS        
Effective rate [2],[3]           10.26%     10.26%        
Principal balance outstanding [3]               63,279,000      
Secured Debt [Member] | 9200 Edmonston Road [Member]                          
Debt Instrument [Line Items]                          
Property Name [4]                 9200 Edmonston Road        
Lender [4]                 Principal Commercial Funding L.L.C.        
Effective rate [2],[4]           9.78%     9.78%        
Principal balance outstanding [4]               3,793,000      
Secured Debt [Member] | Various [Member]                          
Debt Instrument [Line Items]                          
Property Name [5]                 Various        
Lender [5]                 Prudential Insurance        
Effective rate [2],[5]           6.332%     6.332%        
Principal balance outstanding [5]               143,513,000      
Secured Debt [Member] | 4 Becker [Member]                          
Debt Instrument [Line Items]                          
Property Name [6]                 4 Becker        
Lender [6]                 Wells Fargo CMBS        
Effective rate [2],[6]           11.26%     11.26%        
Principal balance outstanding [6]               40,631,000      
Secured Debt [Member] | 100 Walnut Avenue [Member]                          
Debt Instrument [Line Items]                          
Property Name [7]                 100 Walnut Avenue        
Lender [7]                 Guardian Life Insurance Co.        
Effective rate [2],[7]           7.311%     7.311%        
Principal balance outstanding [7]               18,273,000      
Secured Debt [Member] | 150 Main St [Member]                          
Debt Instrument [Line Items]                          
Property Name [8]                 150 Main St.        
Lender [8]                 Webster Bank        
LIBOR [2],[8]                 LIBOR+2.35        
Spread over LIBOR                 2.35%        
Principal balance outstanding [8]           26,642,000     $ 26,642,000 10,937,000      
Loan maturity date [8]                 Mar. 30, 2017        
Secured Debt [Member] | Curtis Center [Member]                          
Debt Instrument [Line Items]                          
Property Name [9]                 Curtis Center        
Lender [9]                 CCRE & PREFG        
LIBOR [2],[9]                 LIBOR+5.912        
Spread over LIBOR                 5.912%        
Principal balance outstanding [9]           $ 75,000,000     $ 75,000,000 64,000,000      
Loan maturity date [9]                 Oct. 09, 2017        
Secured Debt [Member] | 23 Main Street [Member]                          
Debt Instrument [Line Items]                          
Property Name                 23 Main Street        
Lender                 JPMorgan CMBS        
Effective rate [2]           5.587%     5.587%        
Principal balance outstanding           $ 27,838,000     $ 27,838,000 28,541,000      
Loan maturity date                 Sep. 01, 2018        
Secured Debt [Member] | Port Imperial 4/5 Hotel [Member]                          
Debt Instrument [Line Items]                          
Property Name [10]                 Port Imperial 4/5 Hotel        
Lender [10]                 Fifth Third Bank & Santander        
LIBOR [2],[10]                 LIBOR+4.50        
Spread over LIBOR                 4.50%        
Principal balance outstanding [10]           $ 14,919,000     $ 14,919,000        
Loan maturity date [10]                 Oct. 06, 2018        
Secured Debt [Member] | Harborside Plaza 5 [Member]                          
Debt Instrument [Line Items]                          
Property Name                 Harborside Plaza 5        
Lender                 The Northwestern Mutual Life Insurance Co. & New York Life Insurance Co.        
Effective rate [2]           6.842%     6.842%        
Principal balance outstanding           $ 213,640,000     $ 213,640,000 217,736,000      
Loan maturity date                 Nov. 01, 2018        
Secured Debt [Member] | Chase II Project [Member]                          
Debt Instrument [Line Items]                          
Property Name [11]                 Chase II        
Lender [11]                 Fifth Third Bank        
LIBOR [2],[11]                 LIBOR+2.25        
Spread over LIBOR                 2.25%        
Principal balance outstanding [11]           $ 34,708,000     $ 34,708,000        
Loan maturity date [11]                 Dec. 16, 2018        
Secured Debt [Member] | One River Center [Member]                          
Debt Instrument [Line Items]                          
Property Name [12]                 One River Center        
Lender [12]                 Guardian Life Insurance Co.        
Effective rate [2],[12]           7.311%     7.311%        
Principal balance outstanding [12]           $ 41,197,000     $ 41,197,000 41,859,000      
Loan maturity date [12]                 Feb. 01, 2019        
Secured Debt [Member] | Park Square [Member]                          
Debt Instrument [Line Items]                          
Property Name                 Park Square        
Lender                 Wells Fargo Bank N.A.        
LIBOR [2],[13]                 LIBOR+1.872        
Spread over LIBOR [13]                 1.872%        
Principal balance outstanding           27,500,000     $ 27,500,000 27,500,000      
Loan maturity date                 Apr. 10, 2019        
Secured Debt [Member] | 250 Johnson Road [Member]                          
Debt Instrument [Line Items]                          
Property Name                 250 Johnson        
Lender                 M&T Bank        
LIBOR [2]                 LIBOR+2.35        
Spread over LIBOR                 2.35%        
Principal balance outstanding           2,440,000     $ 2,440,000        
Loan maturity date                 May 20, 2019        
Secured Debt [Member] | Port Imperial South 11 [Member]                          
Debt Instrument [Line Items]                          
Property Name [14]                 Port Imperial South 11        
Lender [14]                 JPMorgan Chase        
LIBOR [2],[14]                 LIBOR+2.35        
Spread over LIBOR                 2.35%        
Principal balance outstanding [14]           $ 14,073,000     $ 14,073,000        
Loan maturity date [14]                 Nov. 24, 2019        
Secured Debt [Member] | Port Imperial South 4/5 Retail [Member]                          
Debt Instrument [Line Items]                          
Property Name                 Port Imperial South 4/5 Retail        
Lender                 American General Life & A/G PC        
Effective rate [2]           4.559%     4.559%        
Principal balance outstanding           $ 4,000,000     $ 4,000,000 4,000,000      
Loan maturity date                 Dec. 01, 2021        
Secured Debt [Member] | The Chase At Overlook Ridge [Member]                          
Debt Instrument [Line Items]                          
Property Name                 The Chase at Overlook Ridge        
Lender                 New York Community Bank        
Effective rate [2]           3.74%     3.74%        
Principal balance outstanding           $ 72,500,000     $ 72,500,000        
Loan maturity date                 Feb. 01, 2023        
Secured Debt [Member] | Portside 7 [Member]                          
Debt Instrument [Line Items]                          
Property Name [15]                 Portside 7        
Lender [15]                 CBRE Capital Markets/FreddieMac        
Effective rate [2],[15]           3.569%     3.569%        
Principal balance outstanding [15]           $ 58,998,000     $ 58,998,000        
Loan maturity date [15]                 Aug. 01, 2023        
Secured Debt [Member] | 101 Hudson Street [Member]                          
Debt Instrument [Line Items]                          
Property Name [16]                 101 Hudson        
Lender [16]                 Wells Fargo CMBS        
Effective rate [2],[16],[17]           3.197%     3.197%        
Principal balance outstanding [16]           $ 250,000,000     $ 250,000,000        
Loan maturity date [16]                 Oct. 11, 2026        
Secured Debt [Member] | Port Imperial South 4/5 Garage [Member]                          
Debt Instrument [Line Items]                          
Property Name                 Port Imperial South 4/5 Garage        
Lender                 American General Life & A/G PC        
Effective rate [2]           4.853%     4.853%        
Principal balance outstanding           $ 32,600,000     $ 32,600,000 $ 32,600,000      
Loan maturity date                 Dec. 01, 2029        
[1] On January 19, 2016, the loan was repaid in full at maturity, using borrowings from the Company's unsecured revolving credit facility.
[2] Reflects effective rate of debt, including deferred financing costs, comprised of the cost of terminated treasury lock agreements (if any), debt initiation costs, mark-to-market adjustment of acquired debt and other transaction costs, as applicable.
[3] On April 22, 2016, the loan was repaid at a discount for $51.5 million, using borrowings from the Company's unsecured revolving credit facility. Accordingly, the Company recognized a gain on extinguishment of debt of $12.4 million, which is included in loss on extinguishment of debt, net.
[4] On May 5, 2016, the Company transferred the deed for 9200 Edmonston Road to the lender in satisfaction of its obligations and recorded a gain of $0.2 million.
[5] On November 16, 2016, the loan was repaid in full, using borrowings from the Company's unsecured revolving credit facility.
[6] On December 5, 2016, the Company transferred the deed for 4 Becker Farm Road to the lender in satisfaction of its obligations and recorded a gain of $10.4 million.
[7] On December 22, 2016, the loan was repaid at a premium, using proceeds from the disposition of 100 Walnut Avenue. Accordingly, the Company recognized a loss on extinguishment of debt of $2.3 million, which is included in loss on extinguishment of debt, net.
[8] This construction loan has a maximum borrowing capacity of $28.8 million.
[9] The Company owns a 50 percent tenants-in-common interest in the Curtis Center property. The Company's $75 million loan consists of its 50 percent interest in a $102 million senior loan with a current rate of 3.998 percent at December 31, 2016 and its 50 percent interest in a $48 million mezzanine loan with a current rate of 10.204 percent at December 31, 2016. The senior loan rate is based on a floating rate of one-month LIBOR plus 329 basis points and the mezzanine loan rate is based on a floating rate of one-month LIBOR plus 950 basis points. The Company has entered into LIBOR caps for the periods of the loans. In October 2016, the first of three one-year extension options was exercised by the venture.
[10] This construction loan has a maximum borrowing capacity of $94 million.
[11] This construction loan has a maximum borrowing capacity of $48 million.
[12] Mortgage is collateralized by the three properties comprising One River Center.
[13] The effective interest rate includes amortization of deferred financing costs of 0.122 percent.
[14] This constuction loan has a maximum borrowing capacity of $78 million.
[15] This mortgage loan was obtained by the Company in July 2016 to replace a $42.5 million mortgage loan that was in place at the property acquisition date of April 1, 2016.
[16] This mortgage loan was obtained by the Company on September 30, 2016.
[17] The effective interest rate includes amortization of deferred financing costs of 0.0798 percent.