Debt (Details) (USD $)
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12 Months Ended |
1 Months Ended |
0 Months Ended |
12 Months Ended |
0 Months Ended |
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Dec. 31, 2014
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Dec. 31, 2013
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Dec. 31, 2012
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Dec. 31, 2014
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Sep. 01, 2011
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Feb. 14, 2012
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Aug. 03, 2012
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Dec. 31, 2010
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May 06, 2013
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Sep. 16, 2013
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May 14, 2014
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Apr. 30, 2014
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Debt |
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Debt, net |
$ 1,920,057,000us-gaap_LongTermDebt
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$ 1,927,703,000us-gaap_LongTermDebt
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$ 1,920,057,000us-gaap_LongTermDebt
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Loss on early extinguishment of debt |
9,552,000us-gaap_GainsLossesOnExtinguishmentOfDebt
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27,030,000us-gaap_GainsLossesOnExtinguishmentOfDebt
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943,000us-gaap_GainsLossesOnExtinguishmentOfDebt
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Principal amount of debt |
1,929,810,000us-gaap_DebtInstrumentCarryingAmount
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[1] |
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1,929,810,000us-gaap_DebtInstrumentCarryingAmount
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[1] |
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Interest expense associated with amortization of discount |
921,000us-gaap_AmortizationOfDebtDiscountPremium
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1,159,000us-gaap_AmortizationOfDebtDiscountPremium
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3,155,000us-gaap_AmortizationOfDebtDiscountPremium
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Secured Loans Due November 2015 and January 2016 |
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Debt |
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Loss on early extinguishment of debt |
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9,100,000us-gaap_GainsLossesOnExtinguishmentOfDebt / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoansDueNovember2015AndJanuary2016Member
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Secured Loan Due January 2016 |
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Debt |
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Stated interest rate (as a percent) |
5.56%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueJanuary2016Member
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5.56%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueJanuary2016Member
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Amount of loans repaid upon entry into Revolving Credit Facility and Term Loan Agreement |
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108,500,000us-gaap_ExtinguishmentOfDebtAmount / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueJanuary2016Member
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Secured Loan Due November 2015 |
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Debt |
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Stated interest rate (as a percent) |
5.53%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueNovember2015Member
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5.53%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueNovember2015Member
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Amount of loans repaid upon entry into Revolving Credit Facility and Term Loan Agreement |
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103,000,000us-gaap_ExtinguishmentOfDebtAmount / us-gaap_ExtinguishmentOfDebtAxis = ofc_SecuredLoanDueNovember2015Member
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Mortgage and Other Secured Loans: |
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Debt |
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Debt, net |
424,016,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_SecuredDebtMember
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712,751,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_SecuredDebtMember
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424,016,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_SecuredDebtMember
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Fixed rate mortgage loans |
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Debt |
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Debt, net |
387,139,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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675,060,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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387,139,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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Stated Interest Rates, low end of range (as a percent) |
3.96%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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[2] |
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Stated Interest Rates, high end of range (as a percent) |
10.65%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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[2] |
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Unamortized premium included in carrying value |
42,000us-gaap_DebtInstrumentUnamortizedPremium / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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69,000us-gaap_DebtInstrumentUnamortizedPremium / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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42,000us-gaap_DebtInstrumentUnamortizedPremium / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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Weighted average interest rate (as a percent) |
8.10%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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8.10%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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Weighted average interest rate excluding incremental rate |
6.16%ofc_DebtWeightedAverageInterestRateExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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6.16%ofc_DebtWeightedAverageInterestRateExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
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Variable rate secured loans |
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Debt |
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Debt, net |
36,877,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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37,691,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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36,877,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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Stated interest rate (as a percent) |
2.41%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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2.41%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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Description of variable rate basis |
LIBOR
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[3] |
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Variable rate, spread (as a percent) |
2.25%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
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[3] |
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Revolving Credit Facility |
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Debt |
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Debt, net |
83,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
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0us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
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83,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
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Description of variable rate basis |
LIBOR
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Term Credit Facility Effective September 2011 |
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Debt |
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Additional borrowing capacity available provided there is no default under the agreement |
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100,000,000ofc_CreditFacilityAdditionalBorrowingCapacityAvailable / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member
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Extension option period (in years) |
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1 year
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Initial amount borrowed |
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400,000,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member
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Extension fee as a percentage of total availability of the facility |
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0.15%ofc_CreditFacilityExtensionFeePercentageOfTotalAvailabilityOfFacility / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member
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Repayments of Debt |
100,000,000us-gaap_RepaymentsOfDebt / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member
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150,000,000us-gaap_RepaymentsOfDebt / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member
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Term Credit Facility Effective February 2012 |
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Debt |
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Extension option period (in years) |
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1 year
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Initial amount borrowed |
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250,000,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveFebruary2012Member
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Extension fee as a percentage of total availability of the facility |
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0.15%ofc_CreditFacilityExtensionFeePercentageOfTotalAvailabilityOfFacility / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveFebruary2012Member
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Term Credit Facility Effective August 2012 |
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Debt |
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Additional borrowing capacity available provided there is no default under the agreement |
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80,000,000ofc_CreditFacilityAdditionalBorrowingCapacityAvailable / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveAugust2012Member
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Initial amount borrowed |
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120,000,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveAugust2012Member
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Term Loan Facilities |
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Debt |
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Debt, net |
520,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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620,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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520,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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Description of variable rate basis |
LIBOR
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[4] |
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Weighted average interest rate (as a percent) |
1.80%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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1.80%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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Additional borrowing capacity available provided there is no default under the agreement |
180,000,000ofc_CreditFacilityAdditionalBorrowingCapacityAvailable / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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180,000,000ofc_CreditFacilityAdditionalBorrowingCapacityAvailable / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
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4.25% Exchangeable Senior Notes |
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Debt |
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Debt, net |
572,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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563,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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572,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Stated interest rate (as a percent) |
4.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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4.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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4.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Interest rate on debt (as a percent) |
6.05%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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6.05%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Unamortized discount included in carrying value |
3,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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12,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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3,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Initial amount borrowed |
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240,000,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Exchange rate per $1000 principal amount (in common shares) |
20.8513us-gaap_DebtInstrumentConvertibleConversionRatio1 / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Convertible debt principal amount, basis for exchange |
1,000ofc_DebtInstrumentExchangeRatePrincipalAmountUsedInCalculation / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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1,000ofc_DebtInstrumentExchangeRatePrincipalAmountUsedInCalculation / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Exchange price per common share based on exchange rate (in dollars per share) |
$ 47.96us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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$ 47.96us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Percentage over the entity's common stock price at the time of issuance which was used to determine the initial exchange rate |
20.00%ofc_DebtInstrumentConvertibleExchangeRatePercentageOverEntityCommonStockPriceClosingPriceAtIssuance / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Repurchase of notes, percentage of principal paid |
100.00%ofc_RepurchaseOfExchangeableSeniorNotesPercentageOfPrincipalPaid / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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100.00%ofc_RepurchaseOfExchangeableSeniorNotesPercentageOfPrincipalPaid / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Amount of loans repaid upon entry into Revolving Credit Facility and Term Loan Agreement |
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239,400,000us-gaap_ExtinguishmentOfDebtAmount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Loss on early extinguishment of debt |
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25,900,000us-gaap_GainsLossesOnExtinguishmentOfDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Principal amount of debt |
575,000us-gaap_DebtInstrumentCarryingAmount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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575,000us-gaap_DebtInstrumentCarryingAmount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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575,000us-gaap_DebtInstrumentCarryingAmount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Interest expense at stated interest rate |
24,000us-gaap_InterestExpenseDebtExcludingAmortization / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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4,208,000us-gaap_InterestExpenseDebtExcludingAmortization / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
10,200,000us-gaap_InterestExpenseDebtExcludingAmortization / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Interest expense associated with amortization of discount |
10,000us-gaap_AmortizationOfDebtDiscountPremium / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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1,615,000us-gaap_AmortizationOfDebtDiscountPremium / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
3,651,000us-gaap_AmortizationOfDebtDiscountPremium / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Total interest expenses |
34,000us-gaap_InterestExpenseDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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5,823,000us-gaap_InterestExpenseDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
13,851,000us-gaap_InterestExpenseDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
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Unsecured notes payable |
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Debt |
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Debt, net |
1,607,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
1,700,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
1,607,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
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Stated interest rate (as a percent) |
0.00%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
|
0.00%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
|
|
|
|
|
|
|
Unamortized discount included in carrying value |
654,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
761,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
654,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
|
|
|
|
|
|
|
Debt in Default of Payment Terms |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Number of real estate properties |
2us-gaap_NumberOfRealEstateProperties / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember
|
|
|
|
2us-gaap_NumberOfRealEstateProperties / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember
|
|
|
|
|
|
|
|
|
|
Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Redemption percentage within three months of maturity |
100.00%ofc_RedemptionPercentageWithinThreeMonthsofMaturity / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Senior Notes | 3.60% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt, net |
347,496,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
347,244,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
347,496,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Stated interest rate (as a percent) |
3.60%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
3.60%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
3.60%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Interest rate on debt (as a percent) |
3.70%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
3.70%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Unamortized discount included in carrying value |
2,500,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
2,800,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
2,500,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Initial amount borrowed |
|
|
|
|
|
|
|
|
|
|
347,100,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Loan amount |
|
|
|
|
|
|
|
|
|
|
350,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Debt issuance as a percentage of principal amount |
|
|
|
|
|
|
|
|
|
|
99.82%ofc_Debtissuanceasapercentageofprincipalamount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Senior Notes | 5.250% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt, net |
245,797,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
245,445,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
245,797,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Stated interest rate (as a percent) |
5.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
5.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
5.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
Interest rate on debt (as a percent) |
5.49%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
5.49%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Unamortized discount included in carrying value |
4,200,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
4,600,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
4,200,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Initial amount borrowed |
|
|
|
|
|
|
|
|
|
|
|
245,300,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
Loan amount |
|
|
|
|
|
|
|
|
|
|
|
250,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
Debt issuance as a percentage of principal amount |
|
|
|
|
|
|
|
|
|
|
|
98.78%ofc_Debtissuanceasapercentageofprincipalamount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
Senior Notes | 3.70% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt, net |
297,569,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
0us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
297,569,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Stated interest rate (as a percent) |
|
|
|
|
|
|
|
|
|
|
|
|
3.70%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
Interest rate on debt (as a percent) |
3.85%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
3.85%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Unamortized discount included in carrying value |
2,400,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
2,400,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
|
|
|
|
|
|
Initial amount borrowed |
|
|
|
|
|
|
|
|
|
|
|
|
297,300,000us-gaap_ProceedsFromIssuanceOfDebt / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
Loan amount |
|
|
|
|
|
|
|
|
|
|
|
|
300,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
Debt issuance as a percentage of principal amount |
|
|
|
|
|
|
|
|
|
|
|
|
99.74%ofc_Debtissuanceasapercentageofprincipalamount / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective September 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of variable rate basis |
LIBOR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective February 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of variable rate basis |
LIBOR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective August 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Description of variable rate basis |
LIBOR
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Adjusted Treasury | Senior Notes | 3.60% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basis points used in determining redemption price prior to maturity |
30.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
30.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
|
|
|
|
|
|
Adjusted Treasury | Senior Notes | 5.250% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basis points used in determining redemption price prior to maturity |
40.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
40.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
|
|
|
|
|
|
Adjusted Treasury | Senior Notes | 3.70% Senior Notes |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Basis points used in determining redemption price prior to maturity |
25.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
25.00%ofc_Basispointsusedindeterminingredemptionpricepriortomaturity / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember / us-gaap_VariableRateAxis = ofc_AdjustedTreasuryMember
|
|
|
|
|
|
|
|
|
|
Revolving Credit Facility | Revolving Credit Facility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Maximum Availability |
800,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
800,000,000us-gaap_LineOfCreditFacilityMaximumBorrowingCapacity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
Weighted average interest rate (as a percent) |
1.47%us-gaap_DebtWeightedAverageInterestRate / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
1.74%us-gaap_DebtWeightedAverageInterestRate / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
1.47%us-gaap_DebtWeightedAverageInterestRate / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
Expansion right, maximum borrowing capacity |
1,300,000,000ofc_LineOfCreditExpansionRightMaximumBorrowingAvailabiliity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
1,300,000,000ofc_LineOfCreditExpansionRightMaximumBorrowingAvailabiliity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
Amount available as a percentage of unencumbered Asset value |
60.00%ofc_LineOfCreditFacilityPercentageOfUnencumberedAssetValue / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Extension option period (in years) |
1 year
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Line of credit facility, extension fee percentage |
0.15%ofc_LineofCreditFacilityExtensionFeePercentage / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Remaining borrowing capacity |
702,200,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
702,200,000us-gaap_LineOfCreditFacilityRemainingBorrowingCapacity / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
Weighted average borrowings |
15,900,000us-gaap_LineOfCreditFacilityAverageOutstandingAmount / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
55,500,000us-gaap_LineOfCreditFacilityAverageOutstandingAmount / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
|
|
|
|
|
|
|
|
|
Minimum | Revolving Credit Facility |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variable rate, spread (as a percent) |
0.975%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minimum | Term Loan Facilities |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variable rate, spread (as a percent) |
1.10%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember / us-gaap_RangeAxis = us-gaap_MinimumMember
|
[4] |
|
|
|
|
|
|
|
|
|
|
|
|
Minimum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective September 2011 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Variable rate, spread (as a percent) |
1.10%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Minimum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective February 2012 |
|
|
|
|
|
|
|
|
|
|
|
|
|
|
Debt |
|
|
|
|
|
|
|
|
|
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Variable rate, spread (as a percent) |
1.10%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveFebruary2012Member / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Minimum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective August 2012 |
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Debt |
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Variable rate, spread (as a percent) |
2.10%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveAugust2012Member / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Minimum | Revolving Credit Facility | Revolving Credit Facility |
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Debt |
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Commitment fee percentage |
0.125%us-gaap_LineOfCreditFacilityCommitmentFeePercentage / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember
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Minimum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility |
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Debt |
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Variable rate, spread (as a percent) |
0.975%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Maximum | Fixed rate mortgage loans |
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Debt |
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Stated interest rate excluding incremental rate on default rate |
7.87%ofc_DebtInstrumentInterestRateStatedPercentageExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember / us-gaap_RangeAxis = us-gaap_MaximumMember
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7.87%ofc_DebtInstrumentInterestRateStatedPercentageExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember / us-gaap_RangeAxis = us-gaap_MaximumMember
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Maximum | Revolving Credit Facility |
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Debt |
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Variable rate, spread (as a percent) |
1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember
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Maximum | Term Loan Facilities |
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Debt |
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Variable rate, spread (as a percent) |
2.60%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember / us-gaap_RangeAxis = us-gaap_MaximumMember
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[4] |
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Maximum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective September 2011 |
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Debt |
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Variable rate, spread (as a percent) |
2.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveSeptember2011Member / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Maximum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective February 2012 |
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Debt |
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Variable rate, spread (as a percent) |
2.00%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveFebruary2012Member / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Maximum | London Interbank Offered Rate (LIBOR) | Term Credit Facility Effective August 2012 |
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Debt |
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Variable rate, spread (as a percent) |
2.60%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermCreditFacilityEffectiveAugust2012Member / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Maximum | Revolving Credit Facility | Revolving Credit Facility |
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Debt |
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Commitment fee percentage |
0.35%us-gaap_LineOfCreditFacilityCommitmentFeePercentage / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember
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Maximum | Revolving Credit Facility | London Interbank Offered Rate (LIBOR) | Revolving Credit Facility |
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Debt |
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Variable rate, spread (as a percent) |
1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
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Wholly Owned Subsidiary |
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Debt |
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Debt, net |
$ 150,000,000us-gaap_DebtDefaultLongtermDebtAmount / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
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$ 150,000,000us-gaap_DebtDefaultLongtermDebtAmount / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
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$ 150,000,000us-gaap_DebtDefaultLongtermDebtAmount / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
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Wholly Owned Subsidiary | Debt in Default of Payment Terms |
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Debt |
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Stated interest rate (as a percent) |
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10.65%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
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Northern Virginia | Wholly Owned Subsidiary | Debt in Default of Payment Terms |
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Debt |
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Number of real estate properties |
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2us-gaap_NumberOfRealEstateProperties / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember / us-gaap_StatementGeographicalAxis = ofc_NorthernVirginiaMember
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