Quarterly report pursuant to Section 13 or 15(d)

Debt (Details)

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Debt (Details) (USD $)
 3 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 6 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2013
Jun. 30, 2014
Jun. 30, 2013
Dec. 31, 2013
Jun. 30, 2014
Mortgage and Other Secured Loans:
Dec. 31, 2013
Mortgage and Other Secured Loans:
Jun. 30, 2014
Fixed rate mortgage loans
Dec. 31, 2013
Fixed rate mortgage loans
Jun. 30, 2014
Variable rate secured loans
Dec. 31, 2013
Variable rate secured loans
Jun. 30, 2014
Revolving Credit Facility
Dec. 31, 2013
Revolving Credit Facility
Jun. 30, 2014
Term Loan Facilities
Dec. 31, 2013
Term Loan Facilities
Jun. 30, 2014
Unsecured notes payable
Dec. 31, 2013
Unsecured notes payable
Jun. 30, 2014
4.25% Exchangeable Senior Notes
Jun. 30, 2013
4.25% Exchangeable Senior Notes
Jun. 30, 2014
4.25% Exchangeable Senior Notes
Jun. 30, 2013
4.25% Exchangeable Senior Notes
Dec. 31, 2013
4.25% Exchangeable Senior Notes
Apr. 01, 2014
Debt in default of payment terms
Wholly owned subsidiary
Apr. 01, 2014
Debt in default of payment terms
Wholly owned subsidiary
Northern Virginia
Property
Jun. 30, 2014
Construction loans
Fixed rate mortgage loans
Jun. 30, 2014
Unsecured senior notes
3.60% Senior Notes
Dec. 31, 2013
Unsecured senior notes
3.60% Senior Notes
Jun. 30, 2014
Unsecured senior notes
5.250% Senior Notes
Dec. 31, 2013
Unsecured senior notes
5.250% Senior Notes
May 14, 2014
Unsecured senior notes
3.70% Senior Notes
Jun. 30, 2014
Unsecured senior notes
3.70% Senior Notes
May 14, 2014
Unsecured senior notes
3.70% Senior Notes
Dec. 31, 2013
Unsecured senior notes
3.70% Senior Notes
Jun. 30, 2014
Revolving Credit Facility
Jun. 30, 2014
Minimum
Revolving Credit Facility
Jun. 30, 2014
Minimum
Term Loan Facilities
Jun. 30, 2014
Maximum
Revolving Credit Facility
Jun. 30, 2014
Maximum
Term Loan Facilities
May 14, 2014
Adjusted Treasury
Unsecured senior notes
3.70% Senior Notes
Debt                                                                              
Maximum Availability                                                                   $ 800,000,000 [1]          
Carrying Value 2,099,343,000   2,099,343,000   1,927,703,000 636,736,000 712,751,000 599,448,000 [2] 675,060,000 [2] 37,288,000 37,691,000 0 [1] 0 [1] 570,000,000 620,000,000 1,654,000 1,700,000 567,000 [3]   567,000 [3]   563,000 [3] 150,000,000   24,200,000 347,369,000 [4] 347,244,000 [4] 245,619,000 [5] 245,445,000 [5]   297,398,000 [6]   0 [6]            
Number of real estate properties                                               2                              
Stated Interest Rates, low end of range (as a percent)               3.96% [7]                                                              
Stated Interest Rates, high end of range (as a percent)               7.87% [7]                                                              
Description of variable rate basis                   LIBOR [8]   LIBOR [1]   LIBOR [9]                                                  
Variable rate, spread (as a percent)                   2.25% [8]                                                 0.975% [1] 1.10% [9] 1.75% [1] 2.60% [9]  
Stated interest rate (as a percent)                               0.00% [10]   4.25%   4.25%     5.65%     3.60%   5.25%     3.70% 3.70%              
Debt issuance as a percentage of principal amount                                                           99.739%                  
Proceeds from Issuance of Debt                                                           297,300,000                  
Unamortized premium included in carrying value               55,000 69,000                                                            
Debt Instrument, Maximum Borrowing Capacity                                                 26,200,000.0                            
Weighted average interest rate (as a percent)               5.95%           1.78%                                                  
Interest rate on debt (as a percent)                   2.40%                                                          
Additional borrowing capacity available provided there is no default under the agreement                           180,000,000                                                  
Debt instrument, face amount                                                   350,000,000   250,000,000       300,000,000              
Unamortized discount included in carrying value                               707,000 761,000 8,000   8,000   12,000       2,600,000 2,800,000 4,400,000 4,600,000   2,600,000                
Effective interest rate, including amortization of issuance costs (as a percent)                                   6.05%   6.05%           3.70%   5.49%       3.85%              
Exchange rate per $1000 principal amount (in common shares)                                       20.8513                                      
Convertible debt principal amount, basis for exchange                                   1,000   1,000                                      
Exchange price per common share based on exchange rate (in dollars per share)                                   $ 47.96   $ 47.96                                      
Principal amount of debt                                   575,000   575,000                                      
Interest expense at stated interest rate                                   6,000 1,891,000 12,000 4,195,000                                    
Interest expense associated with amortization of discount     400,000 1,328,000                           2,000 747,000 5,000 1,611,000                                    
Total interest expenses                                   8,000 2,638,000 17,000 5,806,000                                    
Capitalized interest costs $ 1,400,000 $ 2,100,000 $ 3,000,000 $ 4,500,000                                                                      
Basis points used in determining redemption price prior to maturity                                                                             0.25%
[1] No borrowings were outstanding on this facility as of the end of the respective periods.
[2] Several of the fixed rate mortgages carry interest rates that were above or below market rates upon assumption and therefore were recorded at their fair value based on applicable effective interest rates. The carrying values of these loans reflect net unamortized premiums totaling $55,000 as of June 30, 2014 and $69,000 as of December 31, 2013.
[3] As described further in our 2013 Annual Report on Form 10-K, these notes have an exchange settlement feature that provides that the notes may, under certain circumstances, be exchangeable for cash and, at COPLP’s discretion, COPT common shares at an exchange rate (subject to adjustment) of 20.8513 shares per one thousand dollar principal amount of the notes (exchange rate is as of June 30, 2014 and is equivalent to an exchange price of $47.96 per common share). The carrying value of these notes included a principal amount of $575,000 and an unamortized discount totaling $8,000 as of June 30, 2014 and $12,000 as of December 31, 2013. The effective interest rate under the notes, including amortization of the issuance costs, was 6.05%. Because the closing price of our common shares as of June 30, 2014 and December 31, 2013 was less than the exchange price per common share applicable to these notes, the if-converted value of the notes did not exceed the principal amount. The table below sets forth interest expense recognized on these notes before deductions for amounts capitalized (in thousands): For the Three Months Ended June 30, For the Six Months Ended June 30, 2014 2013 2014 2013Interest expense at stated interest rate$6 $1,891 $12 $4,195Interest expense associated with amortization of discount2 747 5 1,611Total$8 $2,638 $17 $5,806
[4] The carrying value of these notes included a principal amount of $350.0 million and an unamortized discount totaling $2.6 million as of June 30, 2014 and $2.8 million as of December 31, 2013. The effective interest rate under the notes, including amortization of the issuance costs, was 3.70%.
[5] The carrying value of these notes included a principal amount of $250.0 million and an unamortized discount totaling $4.4 million as of June 30, 2014 and $4.6 million as of December 31, 2013. The effective interest rate under the notes, including amortization of the issuance costs, was 5.49%.
[6] Refer to the paragraph below for disclosure pertaining to these notes.
[7] The weighted average interest rate on these loans was 5.95% as of June 30, 2014.
[8] The interest rate on the loan outstanding was 2.40% as of June 30, 2014.
[9] The weighted average interest rate on these loans was 1.78% as of June 30, 2014.
[10] These notes carry interest rates that were below market rates upon assumption and therefore were recorded at their fair value based on applicable effective interest rates. The carrying value of these notes reflects an unamortized discount totaling $707,000 as of June 30, 2014 and $761,000 as of December 31, 2013.