Quarterly report pursuant to Section 13 or 15(d)

Real Estate Transactions (Schedule Of Property Sales) (Details)

v2.4.0.8
Real Estate Transactions (Schedule Of Property Sales) (Details) (USD $)
 3 Months Ended 9 Months Ended 12 Months Ended
Sep. 30, 2013
Sep. 30, 2014
item
sqft
Sep. 30, 2013
Dec. 31, 2013
property
sqft
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   16   24
Rentable Square Feet   2,610,931   3,000,000
Net Sales Proceeds   $ 319,239,000   $ 390,600,000
Net Book Value   264,391,000    
Realized Gain (loss)   54,848,000    
Ownership interest   11.10%   11.90%
Impairment charge 48,700,000   48,700,000  
22 Sylvan Way [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1    
Rentable Square Feet   249,409    
Net Sales Proceeds   94,897,000    
Net Book Value   60,244,000    
Realized Gain (loss)   34,653,000    
30 Knightsbridge Road [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   4 [1]    
Rentable Square Feet   680,350 [1]    
Net Sales Proceeds   54,641,000 [1]    
Net Book Value   52,361,000 [1]    
Realized Gain (loss)   2,280,000 [1]    
470 Chestnut Ridge Road [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1 [1],[2]    
Rentable Square Feet   52,500 [1],[2]    
Net Sales Proceeds   7,195,000 [1],[2]    
Net Book Value   7,109,000 [1],[2]    
Realized Gain (loss)   86,000 [1],[2]    
530 Chestnut Ridge Road [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1 [1],[2]    
Rentable Square Feet   57,204 [1],[2]    
Net Sales Proceeds   6,299,000 [1],[2]    
Net Book Value   6,235,000 [1],[2]    
Realized Gain (loss)   64,000 [1],[2]    
400 Rella Boulevard [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1    
Rentable Square Feet   180,000    
Net Sales Proceeds   27,539,000    
Net Book Value   10,938,000    
Realized Gain (loss)   16,601,000    
412 Mt. Kemble Avenue [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1 [1]    
Rentable Square Feet   475,100 [1]    
Net Sales Proceeds   44,751,000 [1]    
Net Book Value   43,851,000 [1]    
Realized Gain (loss)   900,000 [1]    
17-17 Rte 208 North [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1 [1],[2]    
Rentable Square Feet   143,000 [1],[2]    
Net Sales Proceeds   11,835,000 [1],[2]    
Net Book Value   11,731,000 [1],[2]    
Realized Gain (loss)   104,000 [1],[2]    
555, 565 And 570 Seventy Taxter Road [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   3 [1]    
Rentable Square Feet   416,108 [1]    
Net Sales Proceeds   41,057,000 [1]    
Net Book Value   41,057,000 [1]    
200 And 220 White Plains Road [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   2 [1]    
Rentable Square Feet   178,000 [1]    
Net Sales Proceeds   12,619,000 [1]    
Net Book Value   12,619,000 [1]    
1266 East Main Street [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of Buildings   1 [1],[2]    
Rentable Square Feet   179,260 [1],[2]    
Net Sales Proceeds   18,406,000 [1],[2]    
Net Book Value   18,246,000 [1],[2]    
Realized Gain (loss)   160,000 [1],[2]    
Keystone Portfolio [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Net Sales Proceeds   196,800,000    
Sale price of property   221,000,000    
Sale price of property, cash   192,500,000    
Sale price of property, capital accounts   21,200,000    
Closing costs paid   3,000,000    
Ownership interest   0.00%    
Number of properties with senior pari passu interest   5    
Sale price of property, capital balance in properties in which senior pari passu interest is held   7,300,000    
Impairment charge       $ 20,700,000
Keystone Portfolio [Member] | Keystone Entities [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Internal rate of return   15.00%    
Keystone Portfolio [Member] | Parent Company [Member]
        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Internal rate of return   10.00%    
[1] The Company completed the sale of these properties for approximately $221 million, comprised of: $192.5 million in cash from a combination of affiliates of Keystone Property Group’s (“Keystone Entities”) senior and pari-passu equity and mortgage financing; Company subordinated equity interests in each of the properties sold with capital accounts aggregating $21.2 million; and Company pari-passu equity interests in five of the properties sold aggregating $7.3 million. Net sale proceeds from the sale aggregated $196.8 million which was comprised of the $221 million gross sales price less the subordinated equity interests of $21.2 million and $3 million in closing costs. The purchasers of these properties are unconsolidated joint ventures formed between the Company and the Keystone Entities. The senior and pari-passu equity will receive a 15 percent internal rate of return (“IRR”) after which the subordinated equity will receive a 10 percent IRR and then all distributable cash flow will be split equally between the Keystone Entities and the Company. See Note 4: Investments in Unconsolidated Joint Ventures. In connection with certain of these partial sale transactions, because the buyer received a preferential return on certain of the ventures for which the Company received subordinated equity interests, the Company only recognized profit to the extent that they received net proceeds in excess of their entire carrying value of the properties, effectively reflecting their retained subordinated equity interest at zero.
[2] The Company recorded an impairment charge of $20.7 million on these properties at December 31, 2013 as it estimated that the carrying value of the properties may not be recoverable over their anticipated holding periods.