Debt (Details) (USD $)
|
3 Months Ended |
0 Months Ended |
|
Mar. 31, 2015
|
Mar. 31, 2014
|
Apr. 20, 2015
|
Dec. 31, 2014
|
Debt |
|
|
|
|
Carrying Value |
$ 1,999,622,000us-gaap_LongTermDebt
|
|
|
$ 1,920,057,000us-gaap_LongTermDebt
|
Interest costs capitalized |
2,100,000us-gaap_InterestCostsCapitalized
|
1,600,000us-gaap_InterestCostsCapitalized
|
|
|
Wholly owned subsidiary |
|
|
|
|
Debt |
|
|
|
|
Debt Instrument, Debt Default, Amount |
150,000,000.0us-gaap_DebtDefaultLongtermDebtAmount / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
|
|
|
|
Mortgage and Other Secured Loans: |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
422,361,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_SecuredDebtMember
|
|
|
424,016,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_SecuredDebtMember
|
Fixed rate mortgage loans |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
385,693,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
387,139,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
Stated interest rates, low end of range (as a percent) |
3.96%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
|
Stated interest rates, high end of range (as a percent) |
10.65%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
|
Unamortized premium included in carrying value |
36,000us-gaap_DebtInstrumentUnamortizedPremium / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
42,000us-gaap_DebtInstrumentUnamortizedPremium / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
Weighted average interest rate (as a percent) |
8.11%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
|
Debt, Weighted Average Interest Rate, Excluding Incremental Rate On Default Rate |
6.16%ofc_DebtWeightedAverageInterestRateExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember
|
|
|
|
Fixed rate mortgage loans | Maximum |
|
|
|
|
Debt |
|
|
|
|
Interest rate excluding incremental rate on default rate (percent) |
7.87%ofc_DebtInstrumentInterestRateStatedPercentageExcludingIncrementalRateOnDefaultRate / us-gaap_DebtInstrumentAxis = ofc_FixedRateSecuredDebtMember / us-gaap_RangeAxis = us-gaap_MaximumMember
|
|
|
|
Variable rate secured loans |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
36,668,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
|
|
|
36,877,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
|
Description of variable rate basis |
LIBOR
|
|
|
|
Stated interest rate (as a percent) |
2.42%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
|
|
|
|
Variable rate secured loans | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
Debt |
|
|
|
|
Variable rate, spread (as a percent) |
2.25%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
Variable rate secured loans | Revolving Credit Facility |
|
|
|
|
Debt |
|
|
|
|
Weighted average interest rate (as a percent) |
1.45%us-gaap_DebtWeightedAverageInterestRate / us-gaap_CreditFacilityAxis = us-gaap_RevolvingCreditFacilityMember / us-gaap_DebtInstrumentAxis = ofc_VariableRateSecuredDebtMember
|
|
|
|
Revolving Credit Facility |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
164,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
|
|
83,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember
|
Description of variable rate basis |
LIBOR
|
|
|
|
Revolving Credit Facility | Minimum | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
Debt |
|
|
|
|
Variable rate, spread (as a percent) |
0.975%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
Revolving Credit Facility | Maximum | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
Debt |
|
|
|
|
Variable rate, spread (as a percent) |
1.75%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_CreditFacilityMember / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
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
|
|
|
|
Term Loan Facilities |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
520,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
|
|
|
520,000,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
|
Description of variable rate basis |
LIBOR
|
|
|
|
Weighted average interest rate (as a percent) |
1.82%us-gaap_DebtWeightedAverageInterestRate / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
|
|
|
|
Additional borrowing capacity available provided there is no default under the agreement |
330,000,000ofc_CreditFacilityAdditionalBorrowingCapacityAvailable / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember
|
|
|
|
Term Loan Facilities | Minimum | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
Debt |
|
|
|
|
Variable rate, spread (as a percent) |
1.10%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember / us-gaap_RangeAxis = us-gaap_MinimumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
Term Loan Facilities | Maximum | London Interbank Offered Rate (LIBOR) [Member] |
|
|
|
|
Debt |
|
|
|
|
Variable rate, spread (as a percent) |
2.60%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1 / us-gaap_DebtInstrumentAxis = ofc_TermLoanFacilitiesMember / us-gaap_RangeAxis = us-gaap_MaximumMember / us-gaap_VariableRateAxis = us-gaap_LondonInterbankOfferedRateLIBORMember
|
|
|
|
3.60% Senior Notes | Unsecured senior notes |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
347,560,000us-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
|
|
|
|
Interest rate on debt (as a percent) |
3.70%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Debt instrument, face amount |
350,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A3.60SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Unamortized discount included in carrying value |
2,400,000us-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
|
5.250% Senior Notes | Unsecured senior notes |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
245,888,000us-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
|
|
|
|
Interest rate on debt (as a percent) |
5.49%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Debt instrument, face amount |
250,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A5.250SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Unamortized discount included in carrying value |
4,100,000us-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
|
3.70% Senior Notes | Unsecured senior notes |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
297,655,000us-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
|
|
|
|
Debt instrument, face amount |
300,000,000us-gaap_DebtInstrumentFaceAmount / us-gaap_DebtInstrumentAxis = ofc_A3.70SeniorNotesMember / us-gaap_LongtermDebtTypeAxis = us-gaap_SeniorNotesMember
|
|
|
|
Unamortized discount included in carrying value |
2,300,000us-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
|
Unsecured notes payable |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
1,583,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
1,607,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
Stated interest rate (as a percent) |
0.00%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
|
Unamortized discount included in carrying value |
628,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
|
|
654,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = us-gaap_UnsecuredDebtMember
|
4.25% Exchangeable Senior Notes |
|
|
|
|
Debt |
|
|
|
|
Carrying Value |
575,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
572,000us-gaap_LongTermDebt / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
Stated interest rate (as a percent) |
4.25%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
|
Interest rate on debt (as a percent) |
6.05%us-gaap_DebtInstrumentInterestRateEffectivePercentage / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
|
Unamortized discount included in carrying value |
|
|
|
3,000us-gaap_DebtInstrumentUnamortizedDiscount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
Exchange rate per $1000 principal amount (in common shares) |
20.8513us-gaap_DebtInstrumentConvertibleConversionRatio1 / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
|
Convertible debt principal amount, basis for exchange |
1,000ofc_DebtInstrumentExchangeRatePrincipalAmountUsedInCalculation / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
|
Exchange price per common share based on exchange rate (in dollars per share) |
$ 47.96us-gaap_DebtInstrumentConvertibleConversionPrice1 / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
|
|
|
Principal amount of debt |
|
|
|
$ 575,000us-gaap_DebtInstrumentCarryingAmount / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember
|
4.25% Exchangeable Senior Notes | Subsequent Event |
|
|
|
|
Debt |
|
|
|
|
Debt Instrument, Redemption Price, Percentage of Principal Amount Redeemed |
|
|
100.00%us-gaap_DebtInstrumentRedemptionPricePercentageOfPrincipalAmountRedeemed / us-gaap_DebtInstrumentAxis = ofc_Exchangeable425PercentSeniorNotesMember / us-gaap_SubsequentEventTypeAxis = us-gaap_SubsequentEventMember
|
|
Debt in default of payment terms | Wholly owned subsidiary |
|
|
|
|
Debt |
|
|
|
|
Stated interest rate (as a percent) |
10.65%us-gaap_DebtInstrumentInterestRateStatedPercentage / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember
|
|
|
|
Debt in default of payment terms | Wholly owned subsidiary | Northern Virginia |
|
|
|
|
Debt |
|
|
|
|
Number of real estate properties |
2us-gaap_NumberOfRealEstateProperties / us-gaap_DebtInstrumentAxis = ofc_DebtinDefaultofPaymentTermsMember / dei_LegalEntityAxis = ofc_WhollyOwnedSubsidiaryMember / us-gaap_StatementGeographicalAxis = ofc_NorthernVirginiaMember
|
|
|
|