Hines Real Estate Investment Trust 10-Q 14 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	Hines Real Estate Investment Trust Inc
Entity Central Index Key	1,262,959
Document Type	10-Q
Document Period End Date	Sep. 30, 2016
Amendment Flag	false
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		221.6

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS:
Investment property, net	$ 0	$ 1,698,456
Investments in unconsolidated entities	77,451	100,455
Cash and cash equivalents	101,456	69,743
Restricted cash	0	1,288
Distributions receivable	1,382	1,757
Tenant and other receivables, net	0	41,025
Intangible lease assets, net	0	124,265
Deferred leasing costs, net	0	143,656
Deferred financing costs, net	0	519
Other assets	0	2,567
Assets held for sale	1,238,542	0
TOTAL ASSETS	1,418,831	2,183,731
LIABILITIES:
Accounts payable and accrued expenses	0	58,828
Due to affiliates	3,438	4,501
Intangible lease liabilities, net	0	29,699
Other liabilities	0	16,603
Interest rate swap contracts	0	17,448
Participation interest liability	133,942	126,637
Distributions payable	0	15,219
Notes payable, net	0	852,245
Liabilities associated with assets held for sale	62,121	0
Total liabilities	199,501	1,121,180
Commitments and contingencies (Note 12)
EQUITY:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of September 30, 2016 and December 31, 2015
Common shares, $.001 par value; 1,500,000 common shares authorized, 221,632 and 222,510 common shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	223	223
Additional paid-in capital	2,104,456	2,101,105
Accumulated distributions in excess of earnings	(884,152)	(1,037,548)
Accumulated other comprehensive income (loss)	(1,197)	(1,229)
Total stockholders’ equity	1,219,330	1,062,551
Noncontrolling interests	0	0
Total equity	1,219,330	1,062,551
TOTAL LIABILITIES AND EQUITY	$ 1,418,831	$ 2,183,731

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
EQUITY:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	221,632,000	222,510,000
Common stock, shares outstanding	221,632,000	222,510,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Rental revenue	$ 37,957	$ 49,844	$ 130,515	$ 149,917
Other revenue	4,162	5,361	13,980	14,828
Total revenues	42,119	55,205	144,495	164,745
Expenses:
Property operating expenses	10,378	14,994	37,997	45,256
Real property taxes	2,914	7,623	19,207	23,093
Property management fees	1,003	1,365	3,614	4,246
Depreciation and amortization	0	21,491	38,190	66,782
Acquisition related expenses	0	39	0	639
Asset management and acquisition fees	6,542	11,064	21,106	28,192
General and administrative	2,101	1,648	5,346	5,078
Transaction expenses	928	0	4,391	0
Impairment losses	6,909	16,033	30,372	16,033
Total expenses	30,775	74,257	160,223	189,319
Operating income (loss)	11,344	(19,052)	(15,728)	(24,574)
Other income (expenses):
Gain (loss) on derivative instruments, net	3,913	3,922	12,311	11,449
Gain (loss) on settlement of debt	(380)	0	(978)	0
Equity in earnings (losses) of unconsolidated entities, net	(7,874)	(5,297)	(830)	27,703
Gain (loss) on sale of real estate investments, net	173,344	20,711	209,774	50,094
Interest expense	(4,380)	(9,397)	(21,202)	(28,717)
Interest income	62	12	125	33
Income (loss) from continuing operations before benefit (provision) for income taxes	176,029	(9,101)	183,472	35,988
Benefit (provision) for income taxes	43	(59)	(33)	(171)
Income (loss) from continuing operations	176,072	(9,160)	183,439	35,817
Income (loss) from discontinued operations, net of taxes	(7)	(4)	(22)	(165)
Net income (loss)	176,065	(9,164)	183,417	35,652
Less: Net (income) attributable to noncontrolling interests	0	(75)	(149)	(224)
Net income (loss) attributable to common stockholders	$ 176,065	$ (9,239)	$ 183,268	$ 35,428
Basic and diluted income (loss) per common share (in dollars per share)	$ 0.79	$ (0.04)	$ 0.83	$ 0.16
Distributions declared per common share (in dollars per share)	$ 0	$ 0.07	$ 0.13	$ 0.20
Weighted average number of common shares outstanding	221,632	223,004	221,790	223,658
Net comprehensive income (loss):
Net income (loss)	$ 176,065	$ (9,164)	$ 183,417	$ 35,652
Other comprehensive income (loss):
Foreign currency translation adjustment	(128)	(204)	32	(364)
Net comprehensive income (loss)	175,937	(9,368)	183,449	35,288
Net comprehensive (income) loss attributable to noncontrolling interests	0	(75)	(149)	(224)
Net comprehensive income (loss) attributable to common stockholders	$ 175,937	$ (9,443)	$ 183,300	$ 35,064

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Net Income [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Balance, shares at Dec. 31, 2014		225,207,000
Balance at Dec. 31, 2014		$ 225	$ 2,110,537	$ (1,020,134)	$ (790)	$ 1,089,838	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		2,547,000
Issuance of common shares		$ 3	16,522			16,525
Redemption of common shares, shares		(4,750,000)
Redemption of common shares		$ (5)	(24,196)			(24,201)
Distributions declared				(45,168)		(45,168)	(224)
Other offering costs, net			(19)			(19)
Net income (loss)	$ 35,428			35,428		35,428	224
Foreign currency translation adjustment					(364)	(364)
Balance, shares at Sep. 30, 2015		223,004,000
Balance at Sep. 30, 2015		$ 223	2,102,844	(1,029,874)	(1,154)	1,072,039	0
Balance, shares at Dec. 31, 2015	222,510,000	222,510,000
Balance at Dec. 31, 2015	$ 1,062,551	$ 223	2,101,105	(1,037,548)	(1,229)	1,062,551	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		1,617,000
Issuance of common shares		$ 2	10,863			10,865
Redemption of common shares, shares		(2,495,000)
Redemption of common shares		$ (2)	(7,464)			(7,466)
Distributions declared				(29,872)		(29,872)	(149)
Other offering costs, net			(48)			(48)
Net income (loss)	$ 183,268			183,268		183,268	149
Foreign currency translation adjustment					32	32
Balance, shares at Sep. 30, 2016	221,632,000	221,632,000
Balance at Sep. 30, 2016	$ 1,219,330	$ 223	$ 2,104,456	$ (884,152)	$ (1,197)	$ 1,219,330	$ 0

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 183,417	$ 35,652
Adjustments to reconcile net income (loss) to cash from operating activities:
Depreciation and amortization	50,089	79,143
(Gain) loss on sale of real estate investments	(209,774)	(50,094)
(Gain) loss on settlement of debt	978	0
Impairment losses	30,372	16,033
Equity in (earnings) losses of unconsolidated entities, net	830	(27,703)
Distributions received from unconsolidated entities		27,703
Other losses, net	113	113
(Gain) loss on derivative instruments, net	(12,311)	(11,449)
Net change in operating accounts	(39,762)	(24,954)
Net cash provided by operating activities	3,952	44,444
CASH FLOWS FROM INVESTING ACTIVITIES:
Distributions received from unconsolidated entities in excess of equity in earnings	22,548	53,361
Investments in acquired properties and lease intangibles	0	(270,306)
Capital expenditures at operating properties	(3,602)	(9,639)
Proceeds from sale of real estate investments	916,187	231,486
Change in restricted cash	(1,380)	1,250
Net cash provided by (used in) investing activities	933,753	6,152
CASH FLOWS FROM FINANCING ACTIVITIES:
Change in security deposits	2,733	355
Redemption of common shares	(14,615)	(26,892)
Payments of offering costs	(52)	(28)
Distributions paid to stockholders and noncontrolling interests	(34,487)	(29,131)
Proceeds from notes payable	280,600	298,000
Payments on notes payable	(1,134,040)	(298,231)
Payments on settlement of debt and derivative instruments	(6,115)	0
Additions to deferred financing costs	(125)	(257)
Net cash (used in) provided by financing activities	(906,101)	(56,184)
Effect of exchange rate changes on cash	109	(337)
Net change in cash and cash equivalents	31,713	(5,925)
Cash and cash equivalents, beginning of period	69,743	56,821
Cash and cash equivalents, end of period	$ 101,456	$ 50,896

Organization

Organization	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	Organization The accompanying interim unaudited condensed consolidated financial information has been prepared according to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted according to such rules and regulations. For further information, refer to the financial statements and footnotes for the year ended December 31, 2015 included in Hines Real Estate Investment Trust, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2015 . In the opinion of management, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly and in conformity with GAAP the financial position of Hines Real Estate Investment Trust, Inc. as of September 30, 2016 and the results of operations for the three and nine months ended September 30, 2016 and 2015 and cash flows for the nine months ended September 30, 2016 and 2015 have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. Hines Real Estate Investment Trust, Inc., (“Hines REIT” and, together with its consolidated subsidiaries, the “Company”), was formed on August 5, 2003 under the General Corporation Law of the state of Maryland for the purpose of engaging in the business of investing in and owning interests in real estate. Beginning with its taxable year ended December 31, 2004, the Company operated and intends to continue to operate in a manner to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The Company is structured as an umbrella partnership REIT under which substantially all of the Company’s current and future business is and will be conducted through its majority-owned subsidiary, Hines REIT Properties, L.P. (the “Operating Partnership”). Hines REIT is the sole general partner of the Operating Partnership. The business of the Company is managed by Hines Advisors Limited Partnership (the “Advisor”), an affiliate of Hines Interests Limited Partnership (“Hines”), pursuant to the advisory agreement between the Company and the Advisor (the “Advisory Agreement”). Hines REIT has raised approximately $2.7 billion through public offerings of its common stock, including shares of its common stock offered pursuant to its dividend reinvestment plan, since Hines REIT commenced its initial public offering in June 2004. The Company commenced a $150.0 million offering of shares of its common stock under its dividend reinvestment plan on July 1, 2010 , which closed on June 30, 2012 , immediately prior to the commencement of the Company’s subsequent $300.0 million offering of shares of its common stock under its dividend reinvestment plan on July 1, 2012 . The Company refers to both offerings of shares under its dividend reinvestment plan collectively as the “DRP Offering.” From inception of the DRP Offering through September 30, 2016 , Hines REIT received gross offering proceeds of $214.7 million from the sale of 28.2 million shares through the DRP Offering. On May 31, 2016, the Company’s board of directors voted to suspend indefinitely the Company’s dividend reinvestment plan effective as of June 30, 2016. Hines REIT contributed all net proceeds from its public offerings to the Operating Partnership in exchange for partnership units in the Operating Partnership. As of September 30, 2016 and December 31, 2015 , Hines REIT owned a 91.1% and 91.8% general partner interest, respectively, in the Operating Partnership. Hines 2005 VS I LP, an affiliate of Hines, owned a 0.5% limited partnership interest in the Operating Partnership as of both September 30, 2016 and December 31, 2015 . In addition, another affiliate of Hines, HALP Associates Limited Partnership (“HALP”), owned an 8.4% and 7.7% profits interest (the “Participation Interest”) in the Operating Partnership as of September 30, 2016 and December 31, 2015 , respectively. The Company has concentrated its efforts on actively managing its assets and exploring a variety of strategic opportunities focused on enhancing the composition of its portfolio and its total return potential for its stockholders. On June 29, 2016, in connection with a review of potential strategic alternatives available to the Company, the Company’s board of directors determined that it is in the best interest of the Company and its stockholders to sell all or substantially all of the Company’s properties and assets and liquidate and dissolve pursuant to a plan of liquidation and dissolution (the “Plan of Liquidation”). The principal purpose of the liquidation is to seek to maximize stockholder value by liquidating the Company’s assets and distributing the net proceeds of the liquidation to the holders of the Company’s common stock. As part of the Plan of Liquidation, the Company and certain of its affiliates have entered into an Agreement of Sale and Purchase, dated as of June 29, 2016, with BRE Hydra Property Owner LLC (“Purchaser” and such agreement, the “West Coast Asset Agreement”) to sell to Purchaser, an affiliate of Blackstone Real Estate Partners VIII L.P., for a purchase price of $1.162 billion , the following seven properties of the Company: Howard Hughes Center in Los Angeles, California, Laguna Buildings in Redmond, Washington, 2100 Powell in Emeryville, California, 1900 and 2000 Alameda in San Mateo, California, Daytona Buildings in Redmond, Washington, 5th and Bell in Seattle, Washington and 2851 Junction Avenue in San Jose, California (collectively, the “West Coast Assets”, and such transaction the “West Coast Asset Sale”). As required by Maryland law and the Company’s charter, the Plan of Liquidation was approved by the affirmative vote of the holders of at least a majority of the shares of the Company’s common stock outstanding and entitled to vote thereon at the Company’s annual meeting of shareholders held on November 7, 2016. The West Coast Asset Sale closed thereafter on November 10, 2016. If the sale of all or substantially all of the Company’s assets is completed as expected, the Company expects to make one or more liquidating distributions to its stockholders during the period of the liquidation process and expects to make the first of these liquidating distributions to its stockholders prior to December 31, 2016. There can be no assurances regarding the amounts of any distributions or the timing thereof. Directly-owned and Indirectly-owned Properties As of September 30, 2016 , the Company owned direct and indirect investments in 14 properties. These properties consisted of 13 U.S. office properties and one grocery-anchored shopping center. See Note 3 — Real Estate Investments — Property Sales for more information. As of September 30, 2016 , the directly-owned assets were classified as held for sale. See Note 2 — Summary of Significant Accounting Policies — Assets Held for Sale and Associated Liabilities Held for Sale for additional information. The Company made investments directly through entities that are wholly-owned by the Operating Partnership, or indirectly through other entities, such as through its investment in Hines US Core Office Fund LP (the “Core Fund”) in which it owned a 28.8% non-managing general partner interest as of both September 30, 2016 and December 31, 2015 . The Company accounts for its investment in the Core Fund using the equity method of accounting. Unconsolidated VIEs The Company has a non-managing general partner interest of 28.8% in the Core Fund. The Core Fund was determined to be a variable interest entity (“VIE”) in which the Company was determined not to be the primary beneficiary since the managing general partner has the ability to direct the activities that significantly impact the economic performance of the VIE. The Company’s maximum loss exposure is expected to change in future periods as a result of additional contributions made. Other than the initial capital contributions provided by the Company, the Company has not provided any additional subordinated financial support. See Note 5 — Investments in Unconsolidated Entities for information regarding the activity of the Company’s unconsolidated entities as of September 30, 2016 and 2015 . The table below summarizes the Company’s maximum loss exposure related to its investment in the unconsolidated VIE as of September 30, 2016 and December 31, 2015 , which is equal to the carrying value of its investment in the unconsolidated VIE included in the balance sheet line item “Investment in unconsolidated entities” as of September 30, 2016 and December 31, 2015 (in thousands). Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (1) September 30, 2016 $ 77,451 $ 77,451 December 31, 2015 $ 100,455 $ 100,455 (1) Represents the Company’s contributions, net of distributions, made to its VIEs, as well as the Company’s share of equity in earnings (losses) on the investment as of the date indicated.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Summary of Significant Accounting Policies Described below are certain of the Company’s significant accounting policies. The disclosures regarding several of the policies have been condensed or omitted in accordance with interim reporting regulations specified by Form 10-Q. Please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 for a complete listing of all of its significant accounting policies. Basis of Presentation The condensed consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q include the accounts of Hines REIT, the Operating Partnership and the Operating Partnership’s wholly-owned subsidiaries as well as the related amounts of noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. As a result of the adoption of Accounting Standards Update (“ASU”) 2015-02, the Company has determined that the Operating Partnership is considered a VIE. However, the Company meets the disclosure exemption criteria under ASU 2015-02, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. The Company has retroactively changed, for all prior periods presented, its classification of distributions in the consolidated balance sheets and statements of equity by reflecting such distributions as charges against “accumulated distributions in excess of earnings.” This presentation change had no impact on the total equity balances in any of the periods presented. The Company’s investments in partially-owned real estate joint ventures and partnerships are reviewed for impairment periodically. The Company will record an impairment charge if it determines that a decline in the value of an investment below its carrying value is other than temporary. The Company’s analysis will be dependent on a number of factors, including the performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery. Based on the Company’s analysis of the facts and circumstances at each reporting period, no impairment was recorded related to its investment in the Core Fund for the three and nine months ended September 30, 2016 and 2015 . However, if market conditions deteriorate in the future and result in lower valuations or reduced cash flows of the Company’s remaining investment in the Core Fund, impairment charges may be recorded in future periods. International Operations In addition to its properties in the United States, the Company has owned investments in Canada and Brazil, although the Company no longer owns any operating investments outside the United States as of September 30, 2016 . Accumulated other comprehensive income (loss) as of September 30, 2016 is related to the remaining non-operating net assets of the disposed directly-owned properties in Brazil and Canada. Assets Held for Sale and Associated Liabilities Held for Sale In June 2016, the Company’s board of directors approved the Plan of Liquidation. In addition, as of September 30, 2016 , all of the Company’s directly-held properties were under contract to sell, except for a property which was being marketed for sale as of that date and now is sold as of the date of this filing. The Company determined that the West Coast Assets were a disposal group, as they were under contract to sell in one transaction to the same buyer. Accordingly, as of September 30, 2016, the Company determined that all of its directly-owned properties and their related assets and associated liabilities were classified as held for sale as of September 30, 2016 . At December 31, 2015, no assets were classified as held for sale by the Company. As of September 30, 2016 , assets held for sale consisted of the following (in thousands): September 30, 2016 Investment property, net $ 1,060,608 Restricted cash 2,668 Tenant and other receivables, net 18,967 Intangible lease assets, net 77,978 Deferred leasing costs, net 75,579 Deferred financing costs, net 312 Other assets 2,430 Total assets held for sale $ 1,238,542 As of September 30, 2016 , liabilities associated with assets held for sale consisted of the following (in thousands): September 30, 2016 Accounts payable and accrued expenses $ 33,857 Intangible lease liabilities, net 13,124 Other liabilities 15,140 Total liabilities associated with assets held for sale $ 62,121 As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, therefore, no depreciation and amortization were recorded on these assets for the three months ended September 30, 2016 . Impairment of Investment Property Real estate assets are reviewed for impairment in each reporting period if events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the current and projected cash flows of each property on an undiscounted basis to the carrying amount of such property. If undiscounted cash flows are less than the carrying amount, such carrying amount would be adjusted, if necessary, to estimated fair values to reflect impairment in the value of the asset. As of September 30, 2016 , all assets are held for sale and impairment is assessed by comparing the carrying amount of the long-lived asset or disposal group, as applicable, to the fair value less cost to sell. If the carrying amount is greater than the fair value less cost to sell, the asset value is considered impaired, and the carrying amount is written down to the fair value less cost to sell. See Note 13 — Fair Value Disclosures for additional information regarding the Company’s policy for determining fair values of its investment properties. For the three months ended September 30, 2016, the Company determined that three of its directly-owned properties located in Dallas, Texas, Houston, Texas and Bellevue, Washington were impaired because such assets were classified as held for sale and their carrying values exceeded their fair values less cost to sell primarily due to reduced purchase price or increased closing costs. As a result, impairment losses were recorded related to those properties of $6.9 million for the three months ended September 30, 2016 . The property located in Dallas, Texas was sold in August 2016. See Note 3 — Real Estate Investments — Property Sales for more information. Additionally, for the nine months ended September 30, 2016 , the Company recorded impairment losses of $30.4 million on four of its directly-owned properties located in Melville, New York, Dallas, Texas, Houston, Texas and Bellevue, Washington because such assets were classified as held for sale and their carrying values exceeded their fair values less cost to sell. For the three and nine months ended September 30, 2015 , the Company determined that two of its directly-owned properties located in Dallas, Texas and Melville, New York were impaired since the projected undiscounted cash flows for these properties were less than their carrying values. As a result, impairment losses of $16.0 million were recorded related to those properties for the three and nine months ended September 30, 2015 . During the three months ended September 30, 2016 , impairment losses of $30.6 million were recorded related to two of the Company's indirectly-owned properties located in Phoenix, Arizona and Woodland Hills, California. During the nine months ended September 30, 2016 , impairment losses of $66.6 million were recorded related to three of the Company’s indirectly-owned properties located in Phoenix, Arizona, Sacramento, California and Woodland Hills, California. During the three and nine months ended September 30, 2015 , impairment losses of $16.7 million and $38.8 million were recorded related to one of the Company’s indirectly-owned properties located in Richmond, Virginia. The property located in Richmond, Virginia was sold in December 2015. See Note 5 — Investments in Unconsolidated Entities for additional information. Tenant and Other Receivables Receivable balances outstanding consist primarily of base rents, tenant reimbursements and receivables attributable to straight-line rent. An allowance for the uncollectible portion of tenant and other receivables is determined based upon an analysis of the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Tenant and other receivables are shown at cost in the table above describing assets held for sale, net of allowance for doubtful accounts of $1.2 million at September 30, 2016 . Tenant and other receivables are shown at cost in the condensed consolidated balance sheets, net of allowance for doubtful accounts of $4.1 million at December 31, 2015 . Deferred Leasing Costs As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, therefore, no depreciation and amortization were recorded on these assets for the three months ended September 30, 2016 . Tenant inducement amortization was $4.2 million for the three months ended September 30, 2015 and was recorded as an offset to rental revenue. In addition, the Company recorded $1.3 million as amortization expense related to other direct leasing costs for the three months ended September 30, 2015 . Tenant inducement amortization was $10.7 million and $12.2 million for the nine months ended September 30, 2016 and 2015 , respectively, and was recorded as an offset to rental revenue. In addition, the Company recorded $3.2 million and $3.9 million as amortization expense related to other direct leasing costs for the nine months ended September 30, 2016 and 2015 , respectively. Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing. These costs are presented as a direct reduction to the related debt liability for permanent mortgages and presented as an asset for revolving credit arrangements. In total, deferred financing costs were $0.3 million and $1.7 million as of September 30, 2016 and December 31, 2015 , respectively. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations. For the three months ended September 30, 2016 and 2015 , $0.7 million and $0.5 million , respectively, of deferred financing costs were amortized into interest expense in the accompanying consolidated statements of operations. For the nine months ended September 30, 2016 and 2015 , $1.5 million and $1.7 million , respectively, of deferred financing costs were amortized into interest expense in the accompanying consolidated statements of operations. Other Assets Other assets included the following (in thousands): September 30, 2016 (1) December 31, 2015 Prepaid insurance $ 943 $ 663 Prepaid taxes 227 547 Other 1,260 1,357 Total $ 2,430 $ 2,567 (1) As of September 30, 2016 , these amounts were classified as held for sale. Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month. As of September 30, 2016 , the Company recorded liabilities of $6.3 million related to prepaid rental payments which were included in other liabilities in the table above describing liabilities associated with assets held for sale. As of December 31, 2015 , the Company recorded liabilities of $8.5 million related to prepaid rental payments which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease including rent holidays, if any. Straight-line rent receivable was $16.2 million and $36.9 million as of September 30, 2016 and December 31, 2015 , respectively. Redemption of Common Stock Prior to its suspension as described below, the Company’s share redemption program generally limited the funds available for redemption to the amount of proceeds received from the Company’s dividend reinvestment plan in the prior quarter. The board of directors determined to waive this limitation of the share redemption program and fully honor all eligible requests received for the three months ended March 31, 2016, totaling $7.5 million , which amount was in excess of the $5.4 million received from the issuance of shares pursuant to the dividend reinvestment plan in the prior quarter. The board of directors determined to waive the limitation on the share redemption program and fully honor all eligible requests received for the year ended December 31, 2015 , totaling $31.4 million , which was in excess of the $ 21.9 million received from the dividend reinvestment plan in the prior quarters. The Company has recorded liabilities of $7.1 million in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets as of December 31, 2015 , related to shares that were tendered for redemption and approved by the board of directors but were not redeemed until the subsequent month. Such amounts have been included in redemption of common shares in the accompanying consolidated statements of equity based on a redemption price of $5.45 per share for ordinary share redemption requests and $6.50 per share for redemption requests in connection with the death or disability of a stockholder made during the first three quarters of 2015 and $6.65 per share for redemption requests in connection with the death or disability of a stockholder made during the fourth quarter of 2015 and first quarter of 2016. On May 31, 2016, the Company’s board of directors determined to suspend indefinitely the Company’s share redemption program, effective as of June 30, 2016. No liabilities related to the Company’s share redemption program were recorded in accounts payable and accrued expenses in the liabilities associated with assets held for sale as of September 30, 2016 . Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued amendments to the Accounting Standards Codification (“ASC” or the “Codification”) to provide guidance on consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company has evaluated the impact of the adoption of these amendments on its consolidated financial statements and has determined that the Company’s operating partnership is considered a VIE. However, the Company meets the disclosure exemption criteria, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. The Company has also determined that the Core Fund will be considered to be a VIE as a result of this new guidance. However, the Company will not consolidate the Core Fund since the Company is not the primary beneficiary. In September 2015, the FASB issued new guidance that eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Pursuant to the new guidance, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The adoption of this new guidance did not have a material impact on the Company’s financial statements. In June 2016, the FASB issued new guidance that requires the impairment of financial instruments to be based on expected credit losses. These amendments are effective for fiscal years and interim periods within those years, beginning after December 15, 2019 and early adoption is permitted for years and interim periods within those years beginning after December 15, 2018. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements. In August 2016, the FASB issued amendments to the Codification to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The amendments in the ASU are effective for public entities for annual and interim periods in fiscal years beginning after December 15, 2017 and for all other entities for annual periods beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company does not believe the adoption of this guidance will have a material impact on its financial statements.

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
REAL ESTATE INVESTMENTS	Real Estate Investments Investment property consisted of the following (in thousands): September 30, 2016 (1) December 31, 2015 Buildings and improvements $ 831,641 $ 1,427,955 Less: accumulated depreciation (96,866 ) (167,200 ) Buildings and improvements, net 734,775 1,260,755 Land 325,833 437,701 Investment property, net $ 1,060,608 $ 1,698,456 (1) As of September 30, 2016 , these amounts were classified as held for sale. Property Sales In April 2016, the Company sold 1515 S. Street, an office building located in Sacramento, California. The sales price for 1515 S. Street was $68.5 million . The Company originally acquired 1515 S. Street in November 2005 for a purchase price of $66.6 million . The Company recognized a gain on sale of this asset of $12.4 million , which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2016 . In May 2016, the Company sold 345 Inverness Drive and Arapahoe Business Park, two office buildings located in Denver, Colorado. The sales price for 345 Inverness Drive and Arapahoe Business Park was $78.5 million . The Company originally acquired 345 Inverness Drive and Arapahoe Business Park in December 2008 for a purchase price of $66.5 million . The Company recognized a gain on sale of this asset of $23.0 million , which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2016 . In June 2016, the Company entered into a contract to sell 3 Huntington Quadrangle, an office building located in Melville, New York. The sales price for 3 Huntington Quadrangle is expected to be approximately $35.8 million , exclusive of transaction costs and closing prorations. The Company originally acquired 3 Huntington Quadrangle in July 2007 for a purchase price of $87.0 million . Although the Company expects the closing of this sale to occur during the fourth quarter of 2016, there can be no assurances as to if or when this sale will be completed. In July 2016, the Company sold 3400 Data Drive, an office building located in Rancho Cordova, California. The sales price for 3400 Data Drive was $26.0 million . The Company acquired 3400 Data Drive in November 2006 for a purchase price of $32.8 million . The Company recognized a gain on sale of this asset of $2.0 million , which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 . In August 2016, the Company sold JPMorgan Chase Tower, an office building located in Dallas, Texas. The sales price for JPMorgan Chase Tower was $273.0 million . The Company acquired JPMorgan Chase Tower in November 2007 for a purchase price of $289.6 million . In August 2016, the Company sold seven of the Grocery-Anchored Portfolio properties, exclusive of Champions Village, for an aggregate sales price of $158.0 million . The Grocery-Anchored Portfolio consists of eight grocery-anchored shopping centers that were acquired in January 2014 for $178.2 million in aggregate. The Company recognized a gain on sale of seven of the Grocery-Anchored Portfolio properties of $42.7 million , which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 . In August 2016, the Company sold 321 North Clark, an office building located in Chicago, Illinois. The sales price for 321 North Clark was $340.1 million . The Company acquired 321 North Clark in April 2006 for a purchase price of $247.3 million . The Company recognized a gain on sale of this asset of $128.7 million , which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 . Additionally, the Company sold Champions Village in October 2016 and the West Coast Assets and Civica Office Commons in November 2016. See Note 15 — Subsequent Events for information regarding each of these sales. Lease Intangibles As of September 30, 2016 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles, Held for Sale In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 154,743 $ 20,551 $ 25,363 Less: accumulated amortization (82,566 ) (14,750 ) (12,239 ) Net $ 72,177 $ 5,801 $ 13,124 As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 238,176 $ 35,158 $ 50,798 Less: accumulated amortization (124,891 ) (24,178 ) (21,099 ) Net $ 113,285 $ 10,980 $ 29,699 As of June 30, 2016, the Company determined that all of its directly-owned properties were classified as held for sale, therefore, no depreciation and amortization were recorded on these assets for the three months ended September 30, 2016 . Amortization expense of in-place leases was $10.2 million for the three months ended September 30, 2015 and amortization of out-of-market leases, net, increased rental revenue by $0.6 million . Amortization expense of in-place leases was $15.8 million and $32.8 million for the nine months ended September 30, 2016 and 2015 , respectively, and amortization of out-of-market leases, net, increased rental revenue by $0.7 million and $1.8 million , respectively. Leases In connection with its directly-owned properties, the Company has entered into non-cancelable lease agreements with tenants for space. As of September 30, 2016 , the approximate fixed future minimum rentals for the period from October 1, 2016 through December 31, 2016 , for each of the years ending December 31, 2017 through 2020 and thereafter are as follows (in thousands): Fixed Future Minimum Rentals (1) October 1, 2016 through December 31, 2016 $ 25,769 2017 102,014 2018 89,441 2019 73,681 2020 63,491 Thereafter 187,309 Total $ 541,705 (1) As of September 30, 2016 , these amounts were related to assets classified as held for sale. During the nine months ended September 30, 2016 and 2015 , the Company did not earn more than 10% of its revenue from any individual tenant.

Recent Acquisitions of Real Est

Recent Acquisitions of Real Estate	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
RECENT ACQUISITIONS OF REAL ESTATE	Recent Acquisitions of Real Estate The Company did not make any property acquisitions during the three and nine months ended September 30, 2016 . For the year ended December 31, 2015 , the Company acquired the assets and assumed certain liabilities of two real estate operating properties located in the United States, for an aggregate net purchase price of $292.4 million . The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase price of each property acquired in 2015 as follows (in thousands): Property Name Acquisition Date Building and Improvements Land In-place Lease Intangibles Out-of-Market Lease Intangibles, Net Total Purchase Price 2015 Civica Office Commons 02/11/2015 $ 141,037 $ 41,240 $ 26,190 $ (2,960 ) $ 205,507 2851 Junction Avenue 05/14/2015 $ 50,024 $ 24,500 $ 16,020 $ (3,680 ) $ 86,864 The weighted average amortization periods for the intangible assets and liabilities acquired in connection with the 2015 acquisitions, as of the date of the acquisition, were as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Civica Office Commons 3.9 4.0 3.9 2851 Junction Avenue 14.4 — 14.4 The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2015 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 (in thousands): For the Three Months Ended For the Nine Months Ended 2015 Acquisitions September 30, 2015 September 30, 2015 Civica Office Commons Revenue $ 3,969 $ 9,849 Net income (loss) $ (188 ) $ (947 ) 2851 Junction Avenue Revenue $ 1,680 $ 2,571 Net income (loss) $ 695 $ 1,028 The following unaudited consolidated information is presented to give effect to the 2015 acquisitions through September 30, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $1.2 million and $1.3 million for the nine months ended September 30, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2014 , nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2015 Pro Forma 2014 Pro Forma 2015 Pro Forma 2014 Revenue $ 55,205 $ 65,671 $ 168,928 $ 195,571 Net income (loss) from continuing operations $ (9,121 ) $ (15,034 ) $ 36,945 $ 67,353 Basic and diluted income (loss) from continuing operations per common share $ (0.04 ) $ (0.07 ) $ 0.17 $ 0.30

Investments In Unconsolidated E

Investments In Unconsolidated Entities	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENTS IN UNCONSOLIDATED ENTITIES	Investments in Unconsolidated Entities As of September 30, 2016 and December 31, 2015 , the Company owned indirect investments in 4 and 6 properties, respectively, through its interest in the Core Fund. The Company has determined that the Core Fund is considered to be a VIE. See Note 1 — Organization — Unconsolidated VIEs for additional information. The table below presents the activity of the Company’s unconsolidated entities as of and for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Beginning balance $ 86,707 $ 146,803 $ 100,455 $ 187,668 Distributions declared (1,382 ) (2,275 ) (22,174 ) (76,140 ) Equity in earnings (losses) (7,874 ) (5,297 ) (830 ) 27,703 Ending balance $ 77,451 $ 139,231 $ 77,451 $ 139,231 Condensed financial information for the Core Fund is summarized as follows (in thousands): Condensed Consolidated Balance Sheets for the Core Fund September 30, 2016 December 31, 2015 ASSETS Cash $ 45,547 $ 45,471 Investment property, net — 905,229 Other assets 257 214,238 Assets held for sale 857,041 — Total Assets $ 902,845 $ 1,164,938 LIABILITIES AND EQUITY Debt, net $ — $ 636,239 Other liabilities 8,907 73,401 Redeemable noncontrolling interests 101,315 124,413 Liabilities associated with assets held for sale 534,405 — Equity 258,218 330,885 Total Liabilities and Equity $ 902,845 $ 1,164,938 As of September 30, 2016 , the Core Fund assets were classified as held for sale. The Core Fund sold two properties during each of the nine months ended September 30, 2016 and 2015 , which is reflected in the table below (in thousands). Condensed Consolidated Statements of Operations for the Core Fund Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total revenues $ 21,438 $ 38,470 $ 65,771 $ 124,199 Total expenses 55,107 59,277 144,413 174,912 Gain (loss) on sale of real estate investments — 902 73,544 168,504 Net income (loss) (33,669 ) (19,905 ) (5,098 ) 117,791 Less (income) loss allocated to noncontrolling interests 8,905 3,453 9,430 (17,626 ) Net income (loss) attributable to parent $ (24,764 ) $ (16,452 ) $ 4,332 $ 100,165 The following discusses items of significance for the periods presented for the Company’s equity method investments: In January 2016, the Core Fund sold The Carillon Building for a sales price of $147.0 million . The Carillon Building was acquired in July 2007 for a purchase price of $140.0 million . As a result of the sale of The Carillon Building, the Core Fund recorded a gain on sale of $58.8 million . As a result of the sale, the Company recognized a gain on sale of $14.4 million , which is included in equity in earnings (losses) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2016 . In March 2016, the Core Fund sold 525 B Street for a sales price of $122.0 million . 525 B Street was acquired in August 2005 for a purchase price of $116.3 million . As a result of the sale of 525 B Street, the Core Fund recorded a gain on sale of $14.8 million . As a result of the sale, the Company recognized a gain on sale of $3.6 million , which is included in equity in earnings (losses) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2016 . In January 2015, a subsidiary of the Core Fund sold its remaining 51% interest in the entity that owns One North Wacker for $240.0 million . The Core Fund previously sold a 49% noncontrolling interest in One North Wacker in December 2011. One North Wacker was acquired in March 2008 for a purchase price of $540.0 million . As a result of the sale of the 51% interest in One North Wacker, the Core Fund recorded a gain on sale of $140.2 million . As a result of the sale, the Company recognized a gain of $34.3 million , which is included in equity in earnings (losses) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2015 . In April 2015, the Core Fund sold Charlotte Plaza for a sales price of $160.0 million . Charlotte Plaza was acquired in June 2007 for a purchase price of $175.5 million . As a result of the sale of Charlotte Plaza, the Core Fund recognized a gain on sale of $27.4 million . As a result of the sale, the Company recognized a gain on sale of $6.7 million , which is included in equity in earnings (losses) of unconsolidated entities, net, in the condensed consolidated statements of operations and comprehensive income (loss) for the nine months ended September 30, 2015 . For the three months ended September 30, 2016 , the Core Fund recorded impairment losses of $30.6 million on Renaissance Square in Phoenix, Arizona and Warner Center in Woodland Hills, California since such long-lived assets had carrying values that exceeded their fair values based on a purchase and sale agreement or third-party guidance received during its marketing process. For the nine months ended September 30, 2016 , the Core Fund recorded impairment losses of $66.6 million on Renaissance Square in Phoenix, Arizona, Wells Fargo Center in Sacramento, California and Warner Center in Woodland Hills, California since such long-lived assets had carrying values that exceeded their fair values based on a purchase and sale agreement or third-party guidance received during its marketing process. For the three and nine months ended September 30, 2015 , the Core Fund recorded impairment losses of $16.7 million and $38.8 million , respectively, on Riverfront Plaza in Richmond, Virginia due to deterioration of market conditions. Riverfront Plaza was sold in December 2015. As of November 14, 2016 , two of the four Core Fund properties that were remaining as of September 30, 2016 had been sold, and one property was under contract to sell and one property was being marketed for sale. See Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations — Executive Summary for additional information.

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
DEBT FINANCING	Debt Financing As of December 31, 2015 , the Company had $853.4 million of debt outstanding with a weighted average years to maturity of 1.1 years and a weighted average interest rate of 3.9% . As of September 30, 2016 , the Company does not have any outstanding notes payable balances. The following table includes all of the Company’s outstanding notes payable balances as of September 30, 2016 and December 31, 2015 (in thousands, except interest rates): Description Maturity Date Interest Rate Description Interest Rate as of September 30, 2016 Principal Outstanding at September 30, 2016 (1) Principal Outstanding at December 31, 2015 SECURED MORTGAGE DEBT 1515 S. Street (2) 9/1/2016 N/A N/A $ — $ 36,618 345 Inverness Drive (3) 12/11/2016 N/A N/A — 14,224 JPMorgan Chase Tower (4) 2/1/2017 N/A N/A — 149,542 Thompson Bridge Commons (5) 3/1/2018 N/A N/A — 4,959 DEUTSCHE BANK POOLED MORTGAGE FACILITY (6) 321 North Clark, 1900 and 2000 Alameda (7) 8/1/2016 N/A N/A — 169,697 3400 Data Drive, 2100 Powell (8) (9) 1/23/2017 N/A N/A — 98,000 Daytona and Laguna Buildings (9) 5/2/2017 N/A N/A — 119,000 OTHER NOTES PAYABLE JPMorgan Chase Revolving Credit Facility - Revolving Loan (10) 4/1/2017 Variable 2.13% — 61,400 JPMorgan Chase Revolving Credit Facility - Term Loan (10) 4/1/2018 N/A N/A — 200,000 TOTAL PRINCIPAL OUTSTANDING — 853,440 Unamortized Premium/ (Discount) (11) — (6 ) Unamortized Deferred Financing Fees — (1,189 ) NOTES PAYABLE $ — $ 852,245 (1) As of September 30, 2016 , these amounts were classified as held for sale. (2) In April 2016, the Company sold 1515 S. Street and paid off the 1515 S. Street secured mortgage loan with proceeds from the sale. The Company also incurred a prepayment penalty of $0.1 million . (3) In May 2016, the Company sold 345 Inverness Drive and paid off the 345 Inverness Drive secured mortgage loan. The Company also incurred a prepayment penalty of $0.5 million . (4) In January 2016, the Company made a payment of $100.0 million to pay down the JPMorgan Chase Tower secured mortgage debt. Also, in January 2016, the maturity date of the remaining loan balance was extended for an additional year to February 1, 2017. In August, the Company sold JPMorgan Chase Tower and paid off the JPMorgan Chase Tower secured mortgage loan with proceeds from the sale. (5) In August 2016, the Company sold Thompson Bridge Commons and paid off the Thompson Bridge Commons secured mortgage loan with proceeds from the sale. The Company also incurred a prepayment penalty of $0.4 million . (6) In December 2015, HSH Nordbank sold its interest in the HSH Credit Facility and its related swap agreements to Deutsche Bank AG, New York Branch (“Deutsche Bank”). No other terms or conditions of the credit facility were changed. (7) In August 2016, the Company paid off the outstanding debt balance with Deutsche Bank related to 321 North Clark and 1900 and 2000 Alameda. (8) In July 2016, the Company sold 3400 Data Drive and paid off the outstanding debt balance of $18.1 million with Deutsche Bank related to 3400 Data Drive. (9) In August 2016, the Company paid off the outstanding debt balance with Deutsche Bank related to 2100 Powell, Daytona and Laguna Buildings. (10) During the nine months ended September 30, 2016 , the Company borrowed $280.6 million under the JPMorgan Chase Revolving Credit Facility - Revolving Loan. In addition, the Company made a payment of $225.0 million to fully pay down the balance on the JPMorgan Chase Revolving Credit Facility - Revolving Loan with proceeds from the sales of JPMorgan Chase Tower and seven of the Grocery-Anchored Portfolio properties. Further, the Company also made a payment of $200.0 million to fully pay down the balance on the JPMorgan Chase Revolving Credit Facility - Term Loan. Of the $200.0 million , $132.0 million were proceeds from the sale of seven of the Grocery-Anchored Portfolio properties and $68.0 million were proceeds from the sale of 321 North Clark. (11) The Company assumed notes payable in connection with various acquisitions, which were recorded at their estimated fair value as of the date of acquisition. The difference between the fair value at acquisition and the principal outstanding is amortized over the term of the related note. The Company is not aware of any instances of noncompliance with financial covenants as of September 30, 2016 .

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	Derivative Instruments The Company had several interest rate swap transactions with Deutsche Bank, who purchased the interest in the swaps from HSH Nordbank in December 2015. These swap transactions were entered into as economic hedges against the variability of future interest rates on the Company’s variable interest rate borrowings under the Deutsche Bank Credit Facility. The Company had not designated any of its derivative instruments as hedging instruments for accounting purposes. The interest rate swaps had been recorded at their estimated fair value in the accompanying condensed consolidated balance sheets and changes in the fair value were recorded in gain (loss) on derivative instruments, net in the Company’s condensed consolidated statements of operations. As of September 30, 2016 , the Company has terminated all of its interest rate swap contracts in connection with payment of all of its outstanding debt obligations related to such interest rate swap contracts. The Company has not entered into any master netting arrangements with its third-party counterparties and does not offset on its consolidated condensed balance sheets the fair value amounts recorded for derivative instruments. The table below presents the fair value of the Company’s derivative instruments included in “Liabilities — Interest rate swap contracts” on the Company’s condensed consolidated balance sheets as of December 31, 2015 (in thousands): Liability Derivatives Fair Value Derivatives not designated as hedging instruments for accounting purposes: September 30, 2016 December 31, 2015 Interest rate swap contracts $ — $ 17,448 Total derivatives $ — $ 17,448 The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Gain (loss) on interest rate swap, net $ 3,913 $ 3,922 $ 12,311 $ 11,449 Total $ 3,913 $ 3,922 $ 12,311 $ 11,449

Distributions

Distributions	9 Months Ended
	Sep. 30, 2016
Distributions [Abstract]
DISTRIBUTIONS	Distributions With the authorization of its board of directors, the Company declared distributions for the period from January 2015 through June 2016 . These distributions were calculated based on stockholders of record each day during this period in an amount equal to $0.00073973 per share, per day and were paid on the first day of the month following the fiscal quarter in cash, or, with respect to distributions paid for the three months ended March 31, 2016, reinvested in stock for those participating in the Company’s dividend reinvestment plan. On May 31, 2016, the Company’s board of directors voted to suspend indefinitely the Company’s dividend reinvestment plan effective as of June 30, 2016. Accordingly, all distributions for the three months ended June 30, 2016 were paid in cash. In connection with the Plan of Liquidation, the Company determined to cease paying regular quarterly distributions after the payment of the distributions for the six months ended June 30, 2016. The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for each of the quarters during 2016 and 2015 , including the breakout between the distributions paid in cash and those reinvested pursuant to the Company’s dividend reinvestment plan (in thousands). Stockholders Noncontrolling Interests Distributions for the Three Months Ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2016 (1) September 30, 2016 $ — $ — $ — $ — June 30, 2016 14,920 — 14,920 74 March 31, 2016 9,626 5,326 14,952 75 Total $ 24,546 $ 5,326 $ 29,872 $ 149 2015 (1) December 31, 2015 $ 9,717 $ 5,426 $ 15,143 $ 75 September 30, 2015 9,731 5,445 15,176 76 June 30, 2015 9,645 5,416 15,061 74 March 31, 2015 9,507 5,424 14,931 74 Total $ 38,600 $ 21,711 $ 60,311 $ 299 (1) Excluded from this table are distributions declared with respect to the Participation Interest (as discussed further in Note 9 — Related Party Transactions). The distributions declared with respect to the Participation Interest for the quarters ended June 30, 2016 , March 31, 2016 , December 31, 2015 , September 30, 2015 , June 30, 2015 and March 31, 2015 were $1.3 million , $1.3 million , $1.3 million , $1.2 million , $1.2 million and $1.1 million , respectively.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	Related Party Transactions The table below outlines fees incurred and expense reimbursements payable to Hines and the Advisor for the three and nine months ended September 30, 2016 and 2015 and outstanding as of September 30, 2016 and December 31, 2015 (in thousands). Incurred Unpaid as of Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, Type and Recipient 2016 2015 2016 2015 2016 2015 Participation Interest in the Operating Partnership – HALP Associates Limited Partnership (1) $ 3,386 $ 7,652 $ 11,164 $ 17,358 $ 133,942 $ 126,637 Due to Affiliates Acquisition Fee – the Advisor (2) — — — 580 — — Asset Management Fee – the Advisor 3,156 3,412 9,942 10,254 1,022 1,131 Other – the Advisor 1,432 871 3,191 2,615 474 633 Property Management Fee – Hines 921 1,239 3,239 3,784 (63 ) 99 Leasing Fee – Hines 775 258 2,116 2,564 1,733 2,240 Tenant Construction Management Fees – Hines 157 80 212 105 9 — Expense Reimbursements – Hines (with respect to management and operation of the Company’s properties) 1,725 2,822 7,286 8,744 263 398 Due to Affiliates $ 3,438 $ 4,501 (1) The Company recorded a liability related to the Participation Interest based on its estimated settlement value in the accompanying condensed consolidated balance sheets. This liability is remeasured at fair value based on the estimated per share NAV of the Company’s common stock most recently determined by the Company’s board of directors as of the date of each balance sheet plus any unpaid distributions. The Participation Interest liability as of September 30, 2016 is based on the Company’s expectation to distribute approximately $6.35 to $6.65 per share to its shareholders pursuant to the execution of the Plan of Liquidation, which the Company believes is the best estimate of fair value. (2) In connection with the acquisition of 2851 Junction Avenue in May 2015, the Company was obligated to pay approximately $ 0.9 million of acquisition fees to the Advisor, half of which was payable in cash and half of which was payable as an increase to the Participation Interest. The Advisor and HALP, the holder of the Participation Interest, respectively, agreed to waive $ 0.3 million of the cash acquisition fee and all of the $ 0.4 million acquisition fee payable as an increase to the Participation Interest. In connection with the acquisition of Civica Office Commons in February 2015, the Company was obligated to pay approximately $ 2.1 million of acquisition fees to the Advisor, half of which was payable in cash and half of which was payable as an increase to the Participation Interest. The Advisor and HALP, the holder of the Participation Interest, respectively, agreed to waive $ 0.6 million of the cash acquisition fee and all of the $ 1.0 million acquisition fee payable as an increase to the Participation Interest.

Changes in Assets and Liabiliti

Changes in Assets and Liabilities	9 Months Ended
	Sep. 30, 2016
Increase (Decrease) in Operating Capital [Abstract]
CHANGES IN ASSETS AND LIABILITIES	Changes in Assets and Liabilities The effect of the changes in asset and liability accounts on cash flows from operating activities for the nine months ended September 30, 2016 and 2015 is as follows (in thousands): Nine Months Ended September 30, 2016 2015 Change in other assets (1) $ 864 $ 514 Change in tenant and other receivables, net (1) (4,113 ) (3,909 ) Change in deferred leasing costs, net (1) (38,224 ) (47,274 ) Change in accounts payable and accrued expenses (1) (2,775 ) 13,605 Change in participation interest liability 7,305 13,971 Change in other liabilities (1) (1,759 ) (1,213 ) Change in due to affiliates (1,060 ) (648 ) Changes in assets and liabilities $ (39,762 ) $ (24,954 ) (1) As of September 30, 2016 , these amounts were classified as held for sale.

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	Supplemental Cash Flow Disclosures Supplemental cash flow disclosures for the nine months ended September 30, 2016 and 2015 are as follows (in thousands): Nine Months Ended September 30, 2016 2015 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 21,074 $ 23,224 Cash paid for income taxes $ 217 $ 327 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ — $ 15,251 Distributions receivable $ 1,382 $ 2,275 Distributions reinvested $ 10,752 $ 16,413 Shares tendered for redemption $ — $ 7,484 Noncash net assets (liabilities) acquired upon acquisition of property $ — $ (6,734 )

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	Commitments and Contingencies The Company is subject to various legal proceedings and claims that arise in the ordinary course of business and from time to time, the Company is also subject to other types of litigation. All of these matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on the Company’s condensed consolidated financial statements. See “Part II, Item 1. Legal Proceedings” for a description of a purported derivative and class action lawsuit filed against the Company, the Advisor and its owners, certain affiliated entities and current and former members of the Company’s board of directors.

Fair Value Disclosures

Fair Value Disclosures	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	Fair Value Disclosures Assets and Liabilities Measured at Fair Value on a Recurring Basis Derivative Instruments The Company records liabilities related to the fair values of its interest rate swap contracts. The valuation of these instruments is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of the Company’s interest rate contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company did not have any interest rate swap contracts in effect as of September 30, 2016 . Although the Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparty, Deutsche Bank. In adjusting the fair values of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However, as of December 31, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuations of its derivatives. As a result, the Company has determined its derivative valuations are classified in Level 2 of the fair value hierarchy. The following fair value hierarchy table sets forth the Company’s interest rate swaps which are measured at fair value on a recurring basis, which equals book value, by level within the fair value hierarchy as of December 31, 2015 (in thousands). The Company’s derivative financial instruments are recorded in interest rate swap contracts in the accompanying condensed consolidated balance sheets. The Company has not designated any of its derivative instruments as hedging instruments for accounting purposes. See Note 7 — Derivative Instruments for information regarding derivative financial instruments as of September 30, 2016 . Basis of Fair Value Measurements Description Fair Value Quoted Prices In Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 $ 17,448 $ — $ 17,448 $ — Financial Instruments Fair Value Disclosures Other Financial Instruments As of September 30, 2016 , the Company did no t have any outstanding notes payable. As of December 31, 2015 , management estimated that the fair value of notes payable, which had a carrying value (excluding any unamortized discount or premium and unamortized deferred financing fees) of $853.4 million , was $866.3 million . The discount rates used approximate current lending rates for loans or groups of loans with similar maturities and credit quality, assumes the debt is outstanding through maturity and considers the debt’s collateral (if applicable). Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. The Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, however the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of December 31, 2015 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of notes payable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The fair value methodologies used to measure long-lived assets are described in Note 2 — Summary of Significant Accounting Policies — Impairment of Investment Property. The inputs associated with the valuation of long-lived assets are generally included in Level 2 or Level 3 of the fair value hierarchy, as discussed below. Impairment of Investment Property Investment properties are reviewed for impairment at each reporting period if events or changes in circumstances indicate that the carrying amount may not be recoverable. For the nine months ended September 30, 2016, the Company determined that four of its directly-owned investments located in Melville, New York, Dallas, Texas, Houston, Texas and Bellevue, Washington, were impaired based on such long-lived assets having carrying values that exceeded their fair values less costs to sell based on the purchase and sale agreements and potential bids received during the nine month period. As of September 30, 2016 , all of these directly-owned investments were classified as held for sale. Additionally, for the year ended December 31, 2015 , the Company determined that two of its directly-owned investments located in Dallas, Texas and Melville, New York were impaired since the projected undiscounted cash flows for each of these properties was less than each of their carrying values. These changes in assumptions resulted in the net book value of the assets exceeding the projected undiscounted cash flows for these investments. As a result, these assets were written down to fair value. The following table summarizes activity for the Company’s assets measured at fair value, on a non-recurring basis, as of September 30, 2016 and December 31, 2015 (in thousands): Basis of Fair Value Measurements As of Description Fair Value of Assets Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Impairment Loss September 30, 2016 Investment properties $ 265,200 $ — $ 265,200 $ — $ 27,488 (1) December 31, 2015 Investment properties $ 306,900 $ — $ — $ 306,900 $ 19,663 (1) Excludes impairment loss on disposed assets. During the year ended December 31, 2015 , the Company’s estimated fair value of investment properties in Dallas, Texas and Melville, New York was based on a comparison of recent market activity and discounted cash flow models, which include estimates of property-specific inflows and outflows over a specific holding period. Significant unobservable quantitative inputs used in determining the fair value of each investment property for the period ended December 31, 2015 include: (1) a discount rate ranging from 7.0% to 8.3% ; (2) a capitalization rate ranging from 4.7% to 9.7% ; (3) stabilized occupancy rates ranging from 93% to 94% ; and (4) current market rental rates ranging from $21.50 per square foot to $30.00 per square foot. These inputs are based on the location, type and nature of each property, current and anticipated market conditions, and management’s knowledge and expertise in real estate.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	Reportable Segments The Company’s investments in real estate are geographically diversified and management evaluates the operating performance of each at an individual property level. The Company has determined it has three reportable segments: (1) office properties, (2) an industrial property and (3) retail properties. As of September 30, 2016 , the office properties segment consisted of 9 office properties that the Company owned directly as well as 4 office properties that were owned indirectly through the Company’s investment in the Core Fund. The retail segment consisted of one grocery-anchored shopping center. The industrial property segment consisted of one industrial property located in Dallas, Texas, which was sold in April 2015. The Company’s indirect investments are accounted for using the equity method of accounting. As such, the activities of these investments are reflected in investments in unconsolidated entities in the condensed consolidated balance sheets and equity in earnings (losses) of unconsolidated entities, net in the condensed consolidated statements of operations. The tables below provide additional information related to each of the Company’s segments (in thousands) and a reconciliation to the Company’s net income or loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total revenue Office properties $ 39,572 $ 50,534 $ 132,568 $ 150,233 Industrial property — — — 936 Retail properties 2,547 4,671 11,927 13,576 Total revenue $ 42,119 $ 55,205 $ 144,495 $ 164,745 Net property revenues in excess of expenses (1) Office properties $ 26,076 $ 27,942 $ 75,874 $ 82,087 Industrial property — — (32 ) 487 Retail properties 1,748 3,281 7,835 9,576 Total segment net property revenues in excess of expenses $ 27,824 $ 31,223 $ 83,677 $ 92,150 Equity in earnings (losses) of unconsolidated entities Equity in earnings (losses) of office properties $ (7,874 ) $ (5,297 ) $ (830 ) $ 27,703 Total equity in earnings (losses) of unconsolidated entities $ (7,874 ) $ (5,297 ) $ (830 ) $ 27,703 (1) Revenues less property operating expenses, real property taxes and property management fees. Total assets September 30, 2016 December 31, 2015 Office properties $ 1,203,796 $ 1,853,435 Retail properties 54,012 185,850 Investment in unconsolidated entities Office properties 77,451 100,455 Corporate-level accounts (1) 83,572 43,991 Total assets $ 1,418,831 $ 2,183,731 (1) This amount primarily consists of cash equivalents at the corporate level, including proceeds from the sale of the Company’s directly and indirectly-owned investments and distributions receivable from the Company’s investments in unconsolidated entities. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Reconciliation to net income (loss) Total segment net property revenues in excess of expenses $ 27,824 $ 31,223 $ 83,677 $ 92,150 Depreciation and amortization — (21,491 ) (38,190 ) (66,782 ) Acquisition related expenses — (39 ) — (639 ) Asset management and acquisition fees (6,542 ) (11,064 ) (21,106 ) (28,192 ) General and administrative (2,101 ) (1,648 ) (5,346 ) (5,078 ) Transaction expenses (928 ) — (4,391 ) — Impairment losses (6,909 ) (16,033 ) (30,372 ) (16,033 ) Gain (loss) on derivative instruments, net 3,913 3,922 12,311 11,449 Gain (loss) on settlement of debt (380 ) — (978 ) — Equity in earnings (losses) of unconsolidated entities, net (7,874 ) (5,297 ) (830 ) 27,703 Gain (loss) on sale of real estate investments, net 173,344 20,711 209,774 50,094 Interest expense (4,380 ) (9,397 ) (21,202 ) (28,717 ) Interest income 62 12 125 33 Benefit (provision) for income taxes 43 (59 ) (33 ) (171 ) Income (loss) from discontinued operations, net of taxes (7 ) (4 ) (22 ) (165 ) Net income (loss) $ 176,065 $ (9,164 ) $ 183,417 $ 35,652

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	Subsequent Events Champions Village In October 2016, the Company sold Champions Village for a sales price of $50.0 million to the same buyer that purchased seven of the Grocery-Anchored Portfolio properties in August 2016. The Grocery-Anchored Portfolio consisted of eight grocery-anchored shopping centers that were acquired in January 2014 for $178.2 million in aggregate. See Note 3 — Real Estate Investments — Property Sales for information regarding the sale of seven of the Grocery-Anchored Portfolio properties. West Coast Assets As described in Note 1 — Organization, in November 2016, the Company sold the West Coast Assets for an aggregate sales price of $1.162 billion . The Company originally acquired the West Coast Assets between June 2005 and May 2015 for a purchase price of $1.1 billion in aggregate. Civica Office Commons In November 2016, the Company sold Civica Office Commons for a sales price of $ 193.0 million . The Company originally acquired Civica Office Commons in February 2015 for a purchase price of $ 205.5 million . *****

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q include the accounts of Hines REIT, the Operating Partnership and the Operating Partnership’s wholly-owned subsidiaries as well as the related amounts of noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. As a result of the adoption of Accounting Standards Update (“ASU”) 2015-02, the Company has determined that the Operating Partnership is considered a VIE. However, the Company meets the disclosure exemption criteria under ASU 2015-02, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. The Company has retroactively changed, for all prior periods presented, its classification of distributions in the consolidated balance sheets and statements of equity by reflecting such distributions as charges against “accumulated distributions in excess of earnings.” This presentation change had no impact on the total equity balances in any of the periods presented.
Equity Method Investments	The Company made investments directly through entities that are wholly-owned by the Operating Partnership, or indirectly through other entities, such as through its investment in Hines US Core Office Fund LP (the “Core Fund”) in which it owned a 28.8% non-managing general partner interest as of both September 30, 2016 and December 31, 2015 . The Company accounts for its investment in the Core Fund using the equity method of accounting. The Company’s investments in partially-owned real estate joint ventures and partnerships are reviewed for impairment periodically. The Company will record an impairment charge if it determines that a decline in the value of an investment below its carrying value is other than temporary. The Company’s analysis will be dependent on a number of factors, including the performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery. Based on the Company’s analysis of the facts and circumstances at each reporting period, no impairment was recorded related to its investment in the Core Fund for the three and nine months ended September 30, 2016 and 2015 . However, if market conditions deteriorate in the future and result in lower valuations or reduced cash flows of the Company’s remaining investment in the Core Fund, impairment charges may be recorded in future periods.
International Operations	International Operations In addition to its properties in the United States, the Company has owned investments in Canada and Brazil, although the Company no longer owns any operating investments outside the United States as of September 30, 2016 . Accumulated other comprehensive income (loss) as of September 30, 2016 is related to the remaining non-operating net assets of the disposed directly-owned properties in Brazil and Canada.
Assets Held for Sale and Associated Liabilities Held for Sale	Assets Held for Sale and Associated Liabilities Held for Sale In June 2016, the Company’s board of directors approved the Plan of Liquidation. In addition, as of September 30, 2016 , all of the Company’s directly-held properties were under contract to sell, except for a property which was being marketed for sale as of that date and now is sold as of the date of this filing. The Company determined that the West Coast Assets were a disposal group, as they were under contract to sell in one transaction to the same buyer. Accordingly, as of September 30, 2016, the Company determined that all of its directly-owned properties and their related assets and associated liabilities were classified as held for sale as of September 30, 2016 . At December 31, 2015, no assets were classified as held for sale by the Company.
Impairment of Investment Property	Impairment of Investment Property Real estate assets are reviewed for impairment in each reporting period if events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the current and projected cash flows of each property on an undiscounted basis to the carrying amount of such property. If undiscounted cash flows are less than the carrying amount, such carrying amount would be adjusted, if necessary, to estimated fair values to reflect impairment in the value of the asset. As of September 30, 2016 , all assets are held for sale and impairment is assessed by comparing the carrying amount of the long-lived asset or disposal group, as applicable, to the fair value less cost to sell. If the carrying amount is greater than the fair value less cost to sell, the asset value is considered impaired, and the carrying amount is written down to the fair value less cost to sell.
Tenant and Other Receivables	Tenant and Other Receivables Receivable balances outstanding consist primarily of base rents, tenant reimbursements and receivables attributable to straight-line rent. An allowance for the uncollectible portion of tenant and other receivables is determined based upon an analysis of the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing. These costs are presented as a direct reduction to the related debt liability for permanent mortgages and presented as an asset for revolving credit arrangements. In total, deferred financing costs were $0.3 million and $1.7 million as of September 30, 2016 and December 31, 2015 , respectively. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations.
Revenue Recognition	Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month. As of September 30, 2016 , the Company recorded liabilities of $6.3 million related to prepaid rental payments which were included in other liabilities in the table above describing liabilities associated with assets held for sale. As of December 31, 2015 , the Company recorded liabilities of $8.5 million related to prepaid rental payments which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease including rent holidays, if any.
Redemption of Common Stock	Redemption of Common Stock Prior to its suspension as described below, the Company’s share redemption program generally limited the funds available for redemption to the amount of proceeds received from the Company’s dividend reinvestment plan in the prior quarter. The board of directors determined to waive this limitation of the share redemption program and fully honor all eligible requests received for the three months ended March 31, 2016, totaling $7.5 million , which amount was in excess of the $5.4 million received from the issuance of shares pursuant to the dividend reinvestment plan in the prior quarter. The board of directors determined to waive the limitation on the share redemption program and fully honor all eligible requests received for the year ended December 31, 2015 , totaling $31.4 million , which was in excess of the $ 21.9 million received from the dividend reinvestment plan in the prior quarters. The Company has recorded liabilities of $7.1 million in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets as of December 31, 2015 , related to shares that were tendered for redemption and approved by the board of directors but were not redeemed until the subsequent month. Such amounts have been included in redemption of common shares in the accompanying consolidated statements of equity based on a redemption price of $5.45 per share for ordinary share redemption requests and $6.50 per share for redemption requests in connection with the death or disability of a stockholder made during the first three quarters of 2015 and $6.65 per share for redemption requests in connection with the death or disability of a stockholder made during the fourth quarter of 2015 and first quarter of 2016. On May 31, 2016, the Company’s board of directors determined to suspend indefinitely the Company’s share redemption program, effective as of June 30, 2016. No liabilities related to the Company’s share redemption program were recorded in accounts payable and accrued expenses in the liabilities associated with assets held for sale as of September 30, 2016 .
Recent Accounting Pronouncements	Recent Accounting Pronouncements In February 2015, the Financial Accounting Standards Board (“FASB”) issued amendments to the Accounting Standards Codification (“ASC” or the “Codification”) to provide guidance on consolidation evaluation for reporting organizations that are required to evaluate whether they should consolidate certain legal entities. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company has evaluated the impact of the adoption of these amendments on its consolidated financial statements and has determined that the Company’s operating partnership is considered a VIE. However, the Company meets the disclosure exemption criteria, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. The Company has also determined that the Core Fund will be considered to be a VIE as a result of this new guidance. However, the Company will not consolidate the Core Fund since the Company is not the primary beneficiary. In September 2015, the FASB issued new guidance that eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Pursuant to the new guidance, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The adoption of this new guidance did not have a material impact on the Company’s financial statements. In June 2016, the FASB issued new guidance that requires the impairment of financial instruments to be based on expected credit losses. These amendments are effective for fiscal years and interim periods within those years, beginning after December 15, 2019 and early adoption is permitted for years and interim periods within those years beginning after December 15, 2018. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements. In August 2016, the FASB issued amendments to the Codification to add or clarify guidance on the classification of certain cash receipts and payments in the statement of cash flows. The amendments in the ASU are effective for public entities for annual and interim periods in fiscal years beginning after December 15, 2017 and for all other entities for annual periods beginning after December 15, 2018, and interim periods within fiscal years beginning after December 15, 2019 and early adoption is permitted. The Company does not believe the adoption of this guidance will have a material impact on its financial statements.
Derivatives	The Company had several interest rate swap transactions with Deutsche Bank, who purchased the interest in the swaps from HSH Nordbank in December 2015. These swap transactions were entered into as economic hedges against the variability of future interest rates on the Company’s variable interest rate borrowings under the Deutsche Bank Credit Facility. The Company had not designated any of its derivative instruments as hedging instruments for accounting purposes. The interest rate swaps had been recorded at their estimated fair value in the accompanying condensed consolidated balance sheets and changes in the fair value were recorded in gain (loss) on derivative instruments, net in the Company’s condensed consolidated statements of operations.
Fair Value Instruments	The discount rates used approximate current lending rates for loans or groups of loans with similar maturities and credit quality, assumes the debt is outstanding through maturity and considers the debt’s collateral (if applicable). Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. The Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, however the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of December 31, 2015 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of notes payable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Assets and Liabilities Measured at Fair Value on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The fair value methodologies used to measure long-lived assets are described in Note 2 — Summary of Significant Accounting Policies — Impairment of Investment Property. The inputs associated with the valuation of long-lived assets are generally included in Level 2 or Level 3 of the fair value hierarchy, as discussed below. Derivative Instruments The Company records liabilities related to the fair values of its interest rate swap contracts. The valuation of these instruments is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of the Company’s interest rate contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. The Company did not have any interest rate swap contracts in effect as of September 30, 2016 . Although the Company has determined the majority of the inputs used to value its derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparty, Deutsche Bank. In adjusting the fair values of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However, as of December 31, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuations of its derivatives. As a result, the Company has determined its derivative valuations are classified in Level 2 of the fair value hierarchy.

Organization (Tables)

Organization (Tables)	9 Months Ended
	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The table below summarizes the Company’s maximum loss exposure related to its investment in the unconsolidated VIE as of September 30, 2016 and December 31, 2015 , which is equal to the carrying value of its investment in the unconsolidated VIE included in the balance sheet line item “Investment in unconsolidated entities” as of September 30, 2016 and December 31, 2015 (in thousands). Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (1) September 30, 2016 $ 77,451 $ 77,451 December 31, 2015 $ 100,455 $ 100,455 (1) Represents the Company’s contributions, net of distributions, made to its VIEs, as well as the Company’s share of equity in earnings (losses) on the investment as of the date indicated.

Summary of Significant Accoun24

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Schedule of Assets and Liabilities Held For Sale	As of September 30, 2016 , assets held for sale consisted of the following (in thousands): September 30, 2016 Investment property, net $ 1,060,608 Restricted cash 2,668 Tenant and other receivables, net 18,967 Intangible lease assets, net 77,978 Deferred leasing costs, net 75,579 Deferred financing costs, net 312 Other assets 2,430 Total assets held for sale $ 1,238,542 As of September 30, 2016 , liabilities associated with assets held for sale consisted of the following (in thousands): September 30, 2016 Accounts payable and accrued expenses $ 33,857 Intangible lease liabilities, net 13,124 Other liabilities 15,140 Total liabilities associated with assets held for sale $ 62,121
Schedule of Other Assets	Other assets included the following (in thousands): September 30, 2016 (1) December 31, 2015 Prepaid insurance $ 943 $ 663 Prepaid taxes 227 547 Other 1,260 1,357 Total $ 2,430 $ 2,567 (1) As of September 30, 2016 , these amounts were classified as held for sale.

Real Estate Investments (Tables

Real Estate Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Schedule of Property Subject to or Available for Operating Lease	Investment property consisted of the following (in thousands): September 30, 2016 (1) December 31, 2015 Buildings and improvements $ 831,641 $ 1,427,955 Less: accumulated depreciation (96,866 ) (167,200 ) Buildings and improvements, net 734,775 1,260,755 Land 325,833 437,701 Investment property, net $ 1,060,608 $ 1,698,456 (1) As of September 30, 2016 , these amounts were classified as held for sale.
Schedule of Acquired Finite Lived Intangible Assets by Major Class	As of September 30, 2016 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles, Held for Sale In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 154,743 $ 20,551 $ 25,363 Less: accumulated amortization (82,566 ) (14,750 ) (12,239 ) Net $ 72,177 $ 5,801 $ 13,124 As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 238,176 $ 35,158 $ 50,798 Less: accumulated amortization (124,891 ) (24,178 ) (21,099 ) Net $ 113,285 $ 10,980 $ 29,699 The weighted average amortization periods for the intangible assets and liabilities acquired in connection with the 2015 acquisitions, as of the date of the acquisition, were as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Civica Office Commons 3.9 4.0 3.9 2851 Junction Avenue 14.4 — 14.4
Schedule of Future Minimum Rental Payments for Operating Leases	As of September 30, 2016 , the approximate fixed future minimum rentals for the period from October 1, 2016 through December 31, 2016 , for each of the years ending December 31, 2017 through 2020 and thereafter are as follows (in thousands): Fixed Future Minimum Rentals (1) October 1, 2016 through December 31, 2016 $ 25,769 2017 102,014 2018 89,441 2019 73,681 2020 63,491 Thereafter 187,309 Total $ 541,705 (1) As of September 30, 2016 , these amounts were related to assets classified as held for sale.

Recent Acquisitions of Real E26

Recent Acquisitions of Real Estate (Tables)	9 Months Ended
	Sep. 30, 2016
Business Combinations [Abstract]
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase price of each property acquired in 2015 as follows (in thousands): Property Name Acquisition Date Building and Improvements Land In-place Lease Intangibles Out-of-Market Lease Intangibles, Net Total Purchase Price 2015 Civica Office Commons 02/11/2015 $ 141,037 $ 41,240 $ 26,190 $ (2,960 ) $ 205,507 2851 Junction Avenue 05/14/2015 $ 50,024 $ 24,500 $ 16,020 $ (3,680 ) $ 86,864
Schedule of Acquired Finite Lived Intangible Assets by Major Class	As of September 30, 2016 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles, Held for Sale In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 154,743 $ 20,551 $ 25,363 Less: accumulated amortization (82,566 ) (14,750 ) (12,239 ) Net $ 72,177 $ 5,801 $ 13,124 As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles In-Place Leases Out-of-Market Lease Assets Out-of-Market Lease Liabilities Cost $ 238,176 $ 35,158 $ 50,798 Less: accumulated amortization (124,891 ) (24,178 ) (21,099 ) Net $ 113,285 $ 10,980 $ 29,699 The weighted average amortization periods for the intangible assets and liabilities acquired in connection with the 2015 acquisitions, as of the date of the acquisition, were as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Civica Office Commons 3.9 4.0 3.9 2851 Junction Avenue 14.4 — 14.4
Schedule of Real Estate Properties Recent Acquisitions Profit Loss	The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2015 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 (in thousands): For the Three Months Ended For the Nine Months Ended 2015 Acquisitions September 30, 2015 September 30, 2015 Civica Office Commons Revenue $ 3,969 $ 9,849 Net income (loss) $ (188 ) $ (947 ) 2851 Junction Avenue Revenue $ 1,680 $ 2,571 Net income (loss) $ 695 $ 1,028
Business Acquisition, Pro Forma Information	The following unaudited consolidated information is presented to give effect to the 2015 acquisitions through September 30, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $1.2 million and $1.3 million for the nine months ended September 30, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2014 , nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2015 Pro Forma 2014 Pro Forma 2015 Pro Forma 2014 Revenue $ 55,205 $ 65,671 $ 168,928 $ 195,571 Net income (loss) from continuing operations $ (9,121 ) $ (15,034 ) $ 36,945 $ 67,353 Basic and diluted income (loss) from continuing operations per common share $ (0.04 ) $ (0.07 ) $ 0.17 $ 0.30

Investments In Unconsolidated27

Investments In Unconsolidated Entities (Tables)	9 Months Ended
	Sep. 30, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Activity in Equity Method Investments	The table below presents the activity of the Company’s unconsolidated entities as of and for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Beginning balance $ 86,707 $ 146,803 $ 100,455 $ 187,668 Distributions declared (1,382 ) (2,275 ) (22,174 ) (76,140 ) Equity in earnings (losses) (7,874 ) (5,297 ) (830 ) 27,703 Ending balance $ 77,451 $ 139,231 $ 77,451 $ 139,231
Summarized Financial Information Balance Sheet Equity Method Investees	Condensed financial information for the Core Fund is summarized as follows (in thousands): Condensed Consolidated Balance Sheets for the Core Fund September 30, 2016 December 31, 2015 ASSETS Cash $ 45,547 $ 45,471 Investment property, net — 905,229 Other assets 257 214,238 Assets held for sale 857,041 — Total Assets $ 902,845 $ 1,164,938 LIABILITIES AND EQUITY Debt, net $ — $ 636,239 Other liabilities 8,907 73,401 Redeemable noncontrolling interests 101,315 124,413 Liabilities associated with assets held for sale 534,405 — Equity 258,218 330,885 Total Liabilities and Equity $ 902,845 $ 1,164,938
Summarized Financial Information Income Statement Equity Method Investees	The Core Fund sold two properties during each of the nine months ended September 30, 2016 and 2015 , which is reflected in the table below (in thousands). Condensed Consolidated Statements of Operations for the Core Fund Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total revenues $ 21,438 $ 38,470 $ 65,771 $ 124,199 Total expenses 55,107 59,277 144,413 174,912 Gain (loss) on sale of real estate investments — 902 73,544 168,504 Net income (loss) (33,669 ) (19,905 ) (5,098 ) 117,791 Less (income) loss allocated to noncontrolling interests 8,905 3,453 9,430 (17,626 ) Net income (loss) attributable to parent $ (24,764 ) $ (16,452 ) $ 4,332 $ 100,165

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Debt	The following table includes all of the Company’s outstanding notes payable balances as of September 30, 2016 and December 31, 2015 (in thousands, except interest rates): Description Maturity Date Interest Rate Description Interest Rate as of September 30, 2016 Principal Outstanding at September 30, 2016 (1) Principal Outstanding at December 31, 2015 SECURED MORTGAGE DEBT 1515 S. Street (2) 9/1/2016 N/A N/A $ — $ 36,618 345 Inverness Drive (3) 12/11/2016 N/A N/A — 14,224 JPMorgan Chase Tower (4) 2/1/2017 N/A N/A — 149,542 Thompson Bridge Commons (5) 3/1/2018 N/A N/A — 4,959 DEUTSCHE BANK POOLED MORTGAGE FACILITY (6) 321 North Clark, 1900 and 2000 Alameda (7) 8/1/2016 N/A N/A — 169,697 3400 Data Drive, 2100 Powell (8) (9) 1/23/2017 N/A N/A — 98,000 Daytona and Laguna Buildings (9) 5/2/2017 N/A N/A — 119,000 OTHER NOTES PAYABLE JPMorgan Chase Revolving Credit Facility - Revolving Loan (10) 4/1/2017 Variable 2.13% — 61,400 JPMorgan Chase Revolving Credit Facility - Term Loan (10) 4/1/2018 N/A N/A — 200,000 TOTAL PRINCIPAL OUTSTANDING — 853,440 Unamortized Premium/ (Discount) (11) — (6 ) Unamortized Deferred Financing Fees — (1,189 ) NOTES PAYABLE $ — $ 852,245 (1) As of September 30, 2016 , these amounts were classified as held for sale. (2) In April 2016, the Company sold 1515 S. Street and paid off the 1515 S. Street secured mortgage loan with proceeds from the sale. The Company also incurred a prepayment penalty of $0.1 million . (3) In May 2016, the Company sold 345 Inverness Drive and paid off the 345 Inverness Drive secured mortgage loan. The Company also incurred a prepayment penalty of $0.5 million . (4) In January 2016, the Company made a payment of $100.0 million to pay down the JPMorgan Chase Tower secured mortgage debt. Also, in January 2016, the maturity date of the remaining loan balance was extended for an additional year to February 1, 2017. In August, the Company sold JPMorgan Chase Tower and paid off the JPMorgan Chase Tower secured mortgage loan with proceeds from the sale. (5) In August 2016, the Company sold Thompson Bridge Commons and paid off the Thompson Bridge Commons secured mortgage loan with proceeds from the sale. The Company also incurred a prepayment penalty of $0.4 million . (6) In December 2015, HSH Nordbank sold its interest in the HSH Credit Facility and its related swap agreements to Deutsche Bank AG, New York Branch (“Deutsche Bank”). No other terms or conditions of the credit facility were changed. (7) In August 2016, the Company paid off the outstanding debt balance with Deutsche Bank related to 321 North Clark and 1900 and 2000 Alameda. (8) In July 2016, the Company sold 3400 Data Drive and paid off the outstanding debt balance of $18.1 million with Deutsche Bank related to 3400 Data Drive. (9) In August 2016, the Company paid off the outstanding debt balance with Deutsche Bank related to 2100 Powell, Daytona and Laguna Buildings. (10) During the nine months ended September 30, 2016 , the Company borrowed $280.6 million under the JPMorgan Chase Revolving Credit Facility - Revolving Loan. In addition, the Company made a payment of $225.0 million to fully pay down the balance on the JPMorgan Chase Revolving Credit Facility - Revolving Loan with proceeds from the sales of JPMorgan Chase Tower and seven of the Grocery-Anchored Portfolio properties. Further, the Company also made a payment of $200.0 million to fully pay down the balance on the JPMorgan Chase Revolving Credit Facility - Term Loan. Of the $200.0 million , $132.0 million were proceeds from the sale of seven of the Grocery-Anchored Portfolio properties and $68.0 million were proceeds from the sale of 321 North Clark. (11) The Company assumed notes payable in connection with various acquisitions, which were recorded at their estimated fair value as of the date of acquisition. The difference between the fair value at acquisition and the principal outstanding is amortized over the term of the related note.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Other Derivatives Not Designated as Hedging Instruments Statements of Financial Performance and Financial Position Location	The table below presents the fair value of the Company’s derivative instruments included in “Liabilities — Interest rate swap contracts” on the Company’s condensed consolidated balance sheets as of December 31, 2015 (in thousands): Liability Derivatives Fair Value Derivatives not designated as hedging instruments for accounting purposes: September 30, 2016 December 31, 2015 Interest rate swap contracts $ — $ 17,448 Total derivatives $ — $ 17,448 The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2016 and 2015 (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Gain (loss) on interest rate swap, net $ 3,913 $ 3,922 $ 12,311 $ 11,449 Total $ 3,913 $ 3,922 $ 12,311 $ 11,449

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2016
Distributions [Abstract]
Schedule of Dividends Payable	The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for each of the quarters during 2016 and 2015 , including the breakout between the distributions paid in cash and those reinvested pursuant to the Company’s dividend reinvestment plan (in thousands). Stockholders Noncontrolling Interests Distributions for the Three Months Ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2016 (1) September 30, 2016 $ — $ — $ — $ — June 30, 2016 14,920 — 14,920 74 March 31, 2016 9,626 5,326 14,952 75 Total $ 24,546 $ 5,326 $ 29,872 $ 149 2015 (1) December 31, 2015 $ 9,717 $ 5,426 $ 15,143 $ 75 September 30, 2015 9,731 5,445 15,176 76 June 30, 2015 9,645 5,416 15,061 74 March 31, 2015 9,507 5,424 14,931 74 Total $ 38,600 $ 21,711 $ 60,311 $ 299 (1) Excluded from this table are distributions declared with respect to the Participation Interest (as discussed further in Note 9 — Related Party Transactions). The distributions declared with respect to the Participation Interest for the quarters ended June 30, 2016 , March 31, 2016 , December 31, 2015 , September 30, 2015 , June 30, 2015 and March 31, 2015 were $1.3 million , $1.3 million , $1.3 million , $1.2 million , $1.2 million and $1.1 million , respectively.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below outlines fees incurred and expense reimbursements payable to Hines and the Advisor for the three and nine months ended September 30, 2016 and 2015 and outstanding as of September 30, 2016 and December 31, 2015 (in thousands). Incurred Unpaid as of Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, Type and Recipient 2016 2015 2016 2015 2016 2015 Participation Interest in the Operating Partnership – HALP Associates Limited Partnership (1) $ 3,386 $ 7,652 $ 11,164 $ 17,358 $ 133,942 $ 126,637 Due to Affiliates Acquisition Fee – the Advisor (2) — — — 580 — — Asset Management Fee – the Advisor 3,156 3,412 9,942 10,254 1,022 1,131 Other – the Advisor 1,432 871 3,191 2,615 474 633 Property Management Fee – Hines 921 1,239 3,239 3,784 (63 ) 99 Leasing Fee – Hines 775 258 2,116 2,564 1,733 2,240 Tenant Construction Management Fees – Hines 157 80 212 105 9 — Expense Reimbursements – Hines (with respect to management and operation of the Company’s properties) 1,725 2,822 7,286 8,744 263 398 Due to Affiliates $ 3,438 $ 4,501 (1) The Company recorded a liability related to the Participation Interest based on its estimated settlement value in the accompanying condensed consolidated balance sheets. This liability is remeasured at fair value based on the estimated per share NAV of the Company’s common stock most recently determined by the Company’s board of directors as of the date of each balance sheet plus any unpaid distributions. The Participation Interest liability as of September 30, 2016 is based on the Company’s expectation to distribute approximately $6.35 to $6.65 per share to its shareholders pursuant to the execution of the Plan of Liquidation, which the Company believes is the best estimate of fair value. (2) In connection with the acquisition of 2851 Junction Avenue in May 2015, the Company was obligated to pay approximately $ 0.9 million of acquisition fees to the Advisor, half of which was payable in cash and half of which was payable as an increase to the Participation Interest. The Advisor and HALP, the holder of the Participation Interest, respectively, agreed to waive $ 0.3 million of the cash acquisition fee and all of the $ 0.4 million acquisition fee payable as an increase to the Participation Interest. In connection with the acquisition of Civica Office Commons in February 2015, the Company was obligated to pay approximately $ 2.1 million of acquisition fees to the Advisor, half of which was payable in cash and half of which was payable as an increase to the Participation Interest. The Advisor and HALP, the holder of the Participation Interest, respectively, agreed to waive $ 0.6 million of the cash acquisition fee and all of the $ 1.0 million acquisition fee payable as an increase to the Participation Interest.

Changes in Assets and Liabili32

Changes in Assets and Liabilities (Tables)	9 Months Ended
	Sep. 30, 2016
Increase (Decrease) in Operating Capital [Abstract]
Cash Flow Operating Capital	The effect of the changes in asset and liability accounts on cash flows from operating activities for the nine months ended September 30, 2016 and 2015 is as follows (in thousands): Nine Months Ended September 30, 2016 2015 Change in other assets (1) $ 864 $ 514 Change in tenant and other receivables, net (1) (4,113 ) (3,909 ) Change in deferred leasing costs, net (1) (38,224 ) (47,274 ) Change in accounts payable and accrued expenses (1) (2,775 ) 13,605 Change in participation interest liability 7,305 13,971 Change in other liabilities (1) (1,759 ) (1,213 ) Change in due to affiliates (1,060 ) (648 ) Changes in assets and liabilities $ (39,762 ) $ (24,954 ) (1) As of September 30, 2016 , these amounts were classified as held for sale.

Supplemental Cash Flow Disclo33

Supplemental Cash Flow Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Supplemental Cash Flow Information [Abstract]
Schedule of Cash Flow Supplemental Disclosures	Supplemental cash flow disclosures for the nine months ended September 30, 2016 and 2015 are as follows (in thousands): Nine Months Ended September 30, 2016 2015 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 21,074 $ 23,224 Cash paid for income taxes $ 217 $ 327 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ — $ 15,251 Distributions receivable $ 1,382 $ 2,275 Distributions reinvested $ 10,752 $ 16,413 Shares tendered for redemption $ — $ 7,484 Noncash net assets (liabilities) acquired upon acquisition of property $ — $ (6,734 )

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	9 Months Ended
	Sep. 30, 2016
Fair Value Disclosures [Abstract]
Schedule of Fair Value Assets and Liabilities Measured on Recurring Basis	The following fair value hierarchy table sets forth the Company’s interest rate swaps which are measured at fair value on a recurring basis, which equals book value, by level within the fair value hierarchy as of December 31, 2015 (in thousands). The Company’s derivative financial instruments are recorded in interest rate swap contracts in the accompanying condensed consolidated balance sheets. The Company has not designated any of its derivative instruments as hedging instruments for accounting purposes. See Note 7 — Derivative Instruments for information regarding derivative financial instruments as of September 30, 2016 . Basis of Fair Value Measurements Description Fair Value Quoted Prices In Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) December 31, 2015 $ 17,448 $ — $ 17,448 $ —
Fair Value Assets Measured on Nonrecurring Basis	The following table summarizes activity for the Company’s assets measured at fair value, on a non-recurring basis, as of September 30, 2016 and December 31, 2015 (in thousands): Basis of Fair Value Measurements As of Description Fair Value of Assets Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Impairment Loss September 30, 2016 Investment properties $ 265,200 $ — $ 265,200 $ — $ 27,488 (1) December 31, 2015 Investment properties $ 306,900 $ — $ — $ 306,900 $ 19,663 (1) Excludes impairment loss on disposed assets.

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The tables below provide additional information related to each of the Company’s segments (in thousands) and a reconciliation to the Company’s net income or loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Total revenue Office properties $ 39,572 $ 50,534 $ 132,568 $ 150,233 Industrial property — — — 936 Retail properties 2,547 4,671 11,927 13,576 Total revenue $ 42,119 $ 55,205 $ 144,495 $ 164,745 Net property revenues in excess of expenses (1) Office properties $ 26,076 $ 27,942 $ 75,874 $ 82,087 Industrial property — — (32 ) 487 Retail properties 1,748 3,281 7,835 9,576 Total segment net property revenues in excess of expenses $ 27,824 $ 31,223 $ 83,677 $ 92,150 Equity in earnings (losses) of unconsolidated entities Equity in earnings (losses) of office properties $ (7,874 ) $ (5,297 ) $ (830 ) $ 27,703 Total equity in earnings (losses) of unconsolidated entities $ (7,874 ) $ (5,297 ) $ (830 ) $ 27,703 (1) Revenues less property operating expenses, real property taxes and property management fees. Total assets September 30, 2016 December 31, 2015 Office properties $ 1,203,796 $ 1,853,435 Retail properties 54,012 185,850 Investment in unconsolidated entities Office properties 77,451 100,455 Corporate-level accounts (1) 83,572 43,991 Total assets $ 1,418,831 $ 2,183,731 (1) This amount primarily consists of cash equivalents at the corporate level, including proceeds from the sale of the Company’s directly and indirectly-owned investments and distributions receivable from the Company’s investments in unconsolidated entities.
Reconciliation of Property Revenues in Excess of Expenses From Segments to Consolidated	Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Reconciliation to net income (loss) Total segment net property revenues in excess of expenses $ 27,824 $ 31,223 $ 83,677 $ 92,150 Depreciation and amortization — (21,491 ) (38,190 ) (66,782 ) Acquisition related expenses — (39 ) — (639 ) Asset management and acquisition fees (6,542 ) (11,064 ) (21,106 ) (28,192 ) General and administrative (2,101 ) (1,648 ) (5,346 ) (5,078 ) Transaction expenses (928 ) — (4,391 ) — Impairment losses (6,909 ) (16,033 ) (30,372 ) (16,033 ) Gain (loss) on derivative instruments, net 3,913 3,922 12,311 11,449 Gain (loss) on settlement of debt (380 ) — (978 ) — Equity in earnings (losses) of unconsolidated entities, net (7,874 ) (5,297 ) (830 ) 27,703 Gain (loss) on sale of real estate investments, net 173,344 20,711 209,774 50,094 Interest expense (4,380 ) (9,397 ) (21,202 ) (28,717 ) Interest income 62 12 125 33 Benefit (provision) for income taxes 43 (59 ) (33 ) (171 ) Income (loss) from discontinued operations, net of taxes (7 ) (4 ) (22 ) (165 ) Net income (loss) $ 176,065 $ (9,164 ) $ 183,417 $ 35,652

Organization (Public Offering)

Organization (Public Offering) (Details) - USD ($) shares in Millions	24 Months Ended	51 Months Ended	75 Months Ended	148 Months Ended
	Jun. 30, 2012	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Proceeds from issuance of common stock				$ 2,700,000,000
Maximum proceeds from dividend reinvestment plan	$ 150,000,000	$ 300,000,000
Stock issued during period value dividend reinvestment plan			$ 214,700,000
Stock issued during period shares dividend reinvestment plan			28.2

Organization (Ownership Percent

Organization (Ownership Percentages) (Details)	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Hines [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Subsidiary of limited liability company or limited partnership ownership interest	91.10%	91.80%
Hines 2005 VS I LP [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Noncontrolling interest ownership percentage by noncontrolling owners	0.50%	0.50%
HALP Associates Limited Partnership [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Subsidiary of limited liability company or limited partnership ownership interest	8.40%	7.70%

Organization (Investment Proper

Organization (Investment Property) (Details) $ in Millions	Sep. 30, 2016property	Jun. 29, 2016USD ($)property
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	14
Office properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	13
Retail properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties (in properties)	1
West Coast Assets [Member]
Real Estate Properties [Line Items]
Sales price | $		$ 1,162
Number of real estate properties (in properties)		7

Organization (Equity Method Inv

Organization (Equity Method Investments) (Details)	Sep. 30, 2016	Dec. 31, 2015
Hines US Core Office Fund LP [Member]
Schedule of Equity Method Investments
Equity Method Investment, Ownership Percentage	28.80%	28.80%

Organization (VIE disclosures)

Organization (VIE disclosures) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Variable Interest Entity, Not Primary Beneficiary [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Investment in Unconsolidated VIEs	$ 77,451	$ 100,455
Maximum Risk of Loss	$ 77,451	$ 100,455
Hines Us Core Office Fund Lp [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Equity Method Investment, Ownership Percentage	28.80%	28.80%

Summary of Significant Accoun41

Summary of Significant Accounting Policies (Equity Method Investments) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Unconsolidated Properties [Member] | Hines US Core Office Fund LP [Member]
Schedule of Equity Method Investments
Equity method investment, OTTI	$ 0	$ 0	$ 0	$ 0

Summary of Significant Accoun42

Summary of Significant Accounting Policies (Held for Sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Total assets held for sale	$ 1,238,542	$ 0
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Total liabilities associated with assets held for sale	62,121	$ 0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Disposal Group, Including Discontinued Operation, Assets [Abstract]
Investment property, net	1,060,608
Restricted cash	2,668
Tenant and other receivables, net	18,967
Intangible lease assets, net	77,978
Deferred leasing costs, net	75,579
Deferred financing costs, net	312
Other assets	2,430
Total assets held for sale	1,238,542
Disposal Group, Including Discontinued Operation, Liabilities [Abstract]
Accounts payable and accrued expenses	33,857
Intangible lease liabilities, net	13,124
Other liabilities	15,140
Total liabilities associated with assets held for sale	$ 62,121

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Impairment of Real Estate) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)property	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)property	Dec. 31, 2015property
Impairment Charges
Impairment losses	$ 6,909	$ 16,033	$ 30,372	$ 16,033
Wholly Owned Properties [Member]
Impairment Charges
Number Of Impaired Real Estate Properties | property	3	2	4	2	2
Impairment of assets held for sale	$ 6,900		$ 30,400
Impairment losses		$ 16,000		$ 16,000
Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member]
Impairment Charges
Number Of Impaired Real Estate Properties | property	2	1	3	1
Impairment losses	$ 30,600	$ 16,700	$ 66,600	$ 38,800

Summary of Significant Accoun44

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Other Assets, Not Held For Sale
Prepaid insurance					$ 663
Prepaid taxes					547
Other					1,357
Total	$ 0		$ 0		2,567
Allowance for doubtful accounts receivable					4,100
Amortization of lease incentives		$ 4,200	10,700	$ 12,200
Amortization of deferred leasing fees		1,300	3,200	3,900
Deferred financing costs, net	300		300		1,700
Amortization of financing costs	700	$ 500	1,500	$ 1,700
Prepaid rent					8,500
Straight-line rent receivables					$ 36,900
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Allowance for Doubtful Accounts Receivable, assets held for sale	1,200		1,200
Prepaid Insurance, assets held for sale	943		943
Prepaid taxes, assets held for sale	227		227
Other, assets held for sale	1,260		1,260
Total, assets held for sale	2,430		2,430
Prepaid rent, liabilities associated with assets held for sale	6,300		6,300
Straight-line rent receivables, assets held for sale	$ 16,200		$ 16,200

Summary of Significant Accoun45

Summary of Significant Accounting Policies (Redemptions) (Details) - USD ($)	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2016
Redemption
Redemption Requests Received	$ 7,500,000	$ 31,400,000
Proceeds from issuance of common stock, dividend reinvestment plan	$ 5,400,000	21,900,000
Common stock redemption liabilities		$ 7,100,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Redemption
Common Stock Redemption Liabilities, liabilities associated with assets held for sale			$ 0
Ordinary Redemption Per Share Price determined in November 2013 [Member]
Redemption
Share redemption plan share price (in dollars per share)			$ 5.45
Death and Disability Redemption Per Share Price determined in December 2014 [Member]
Redemption
Share redemption plan share price (in dollars per share)			6.50
Death and Disability Redemption Per Share Price determined in September 2015 [Member]
Redemption
Share redemption plan share price (in dollars per share)			$ 6.65

Real Estate Investments (Detail

Real Estate Investments (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Real Estate Investment Property, Net, Not Held For Sale [Abstract]
Real Estate Investment Property, net	$ 0	$ 1,698,456
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Real Estate Investment Property, Assets Held For Sale [Abstract]
Real Estate Investment Property, net	1,060,608
Buildings and improvements [Member]
Real Estate Investment Property, Net, Not Held For Sale [Abstract]
Real Estate Investment Property, at Cost		1,427,955
Less: accumulated depreciation		(167,200)
Real Estate Investment Property, net		1,260,755
Buildings and improvements [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Real Estate Investment Property, Assets Held For Sale [Abstract]
Real Estate Investment Property, at Cost	831,641
Less: accumulated depreciation	(96,866)
Real Estate Investment Property, net	734,775
Land [Member]
Real Estate Investment Property, Net, Not Held For Sale [Abstract]
Real Estate Investment Property, at Cost		$ 437,701
Land [Member] | Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Real Estate Investment Property, Assets Held For Sale [Abstract]
Real Estate Investment Property, at Cost	$ 325,833

Real Estate Investments (Narrat

Real Estate Investments (Narratives) (Details) $ in Thousands

3 Months Ended

9 Months Ended

Sep. 30, 2016USD ($)property

Sep. 30, 2015USD ($)

Sep. 30, 2016USD ($)property

Sep. 30, 2015USD ($)

Nov. 30, 2016USD ($)

Oct. 31, 2016USD ($)

Aug. 31, 2016USD ($)property

Jul. 31, 2016USD ($)

Jun. 30, 2016USD ($)

Jun. 29, 2016USD ($)property

May 31, 2016USD ($)property

Apr. 30, 2016USD ($)

Jan. 31, 2014USD ($)

Dec. 31, 2008USD ($)

Nov. 30, 2007USD ($)

Jul. 31, 2007USD ($)

Nov. 30, 2006USD ($)

Apr. 30, 2006USD ($)

Nov. 30, 2005USD ($)

Jun. 30, 2005USD ($)

Property Subject To Or Available For Operating Lease

Gain (loss) on sale of real estate investments, net

$ 173,344

$ 20,711

$ 209,774

$ 50,094

Number of real estate properties (in properties) | property

14

14

1515 S. Street [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 68,500

Purchase price

$ 66,600

Gain (loss) on sale of real estate investments, net

$ 12,400

345 Inverness and Arapahoe Business Park [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 78,500

Purchase price

$ 66,500

Gain (loss) on sale of real estate investments, net

23,000

Number of real estate properties (in properties) | property

2

3 Huntington Quadrangle [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 35,800

Purchase price

$ 87,000

3400 Data Drive [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 26,000

Purchase price

$ 32,800

Gain (loss) on sale of real estate investments, net

$ 2,000

2,000

JP Morgan Chase Tower [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 273,000

Purchase price

$ 289,600

Grocery Anchored Portfolio [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 158,000

Purchase price

$ 178,200

Gain (loss) on sale of real estate investments, net

$ 42,700

$ 42,700

Number of real estate properties (in properties) | property

8

8

7

321 North Clark [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 340,100

Purchase price

$ 247,300

Gain (loss) on sale of real estate investments, net

$ 128,700

$ 128,700

West Coast Assets [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 1,162,000

Purchase price

$ 1,100,000

Number of real estate properties (in properties) | property

7

Subsequent Event [Member] | Champions Village [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 50,000

Subsequent Event [Member] | West Coast Assets [Member]

Property Subject To Or Available For Operating Lease

Sales price

$ 1,162,000

Wholly Owned Properties [Member]

Property Subject To Or Available For Operating Lease

Impairment of assets held for sale

$ 6,900

$ 30,400

Real Estate Investments (Intang

Real Estate Investments (Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Acquired Finite-Lived Intangible Assets, Held For Sale [Abstract]
Intangible lease assets, net	$ 0	$ 124,265
Below Market Lease, Assets Held For Sale [Abstract]
Out-of-Market Lease Liabilities, Cost		50,798
Out-of-Market Lease Liabilities, Less: accumulated Amortization		(21,099)
Out-of-Market Lease Liabilities, Net		29,699
In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets, Held For Sale [Abstract]
Cost		238,176
Less: accumulated amortization		(124,891)
Intangible lease assets, net		113,285
Above Market Leases [Member]
Acquired Finite-Lived Intangible Assets, Held For Sale [Abstract]
Cost		35,158
Less: accumulated amortization		(24,178)
Intangible lease assets, net		$ 10,980
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Below Market Lease, Assets Held For Sale [Abstract]
Out-of-Market Lease Liabilities, Cost	25,363
Out-of-Market Lease Liabilities, Less: accumulated Amortization	(12,239)
Out-of-Market Lease Liabilities, Net	13,124
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets, Held For Sale [Abstract]
Cost	154,743
Less: accumulated amortization	(82,566)
Intangible lease assets, net	72,177
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Above Market Leases [Member]
Acquired Finite-Lived Intangible Assets, Held For Sale [Abstract]
Cost	20,551
Less: accumulated amortization	(14,750)
Intangible lease assets, net	$ 5,801

Real Estate Investments (Inta49

Real Estate Investments (Intangible Assets 2) (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets
Amortization of intangible assets	$ 10.2	$ 15.8	$ 32.8
Out-of-Market Leases, Net [Member]
Acquired Finite-Lived Intangible Assets
Amortization of intangible asset (liability) for above and below market leases	$ (0.6)	$ (0.7)	$ (1.8)

Real Estate Investments (Future

Real Estate Investments (Future Minimum Rentals) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Fixed Future Minimum Rentals
October 1, 2016 through December 31, 2016	$ 25,769
2,017	102,014
2,018	89,441
2,019	73,681
2,020	63,491
Thereafter	187,309
Total	$ 541,705

Recent Acquisitions of Real E51

Recent Acquisitions of Real Estate (Acquisitions) (Details) $ in Thousands	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)property	May 14, 2015USD ($)	Feb. 11, 2015USD ($)
Business Acquisition
Number of real estate properties acquired | property		2
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Out-of-Market Lease Intangibles, Net	$ 0	$ (29,699)
Total Purchase Price		$ 292,400
Civica Office Commons [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Building and Improvements				$ 141,037
Land				41,240
In-place Lease Intangibles				26,190
Out-of-Market Lease Intangibles, Net				(2,960)
Total Purchase Price				$ 205,507
2851 Junction Avenue [Member]
Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net [Abstract]
Building and Improvements			$ 50,024
Land			24,500
In-place Lease Intangibles			16,020
Out-of-Market Lease Intangibles, Net			(3,680)
Total Purchase Price			$ 86,864

Recent Acquisitions of Real E52

Recent Acquisitions of Real Estate (Intangible Assets) (Details)	May 14, 2015	Feb. 11, 2015
Civica Office Commons [Member]
Acquired Finite-Lived Intangible Assets
Below-Market Lease Liabilities, weighted average useful life		3 years 10 months 24 days
Civica Office Commons [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets
Lease assets, weighted average useful life		3 years 10 months 24 days
Civica Office Commons [Member] | Above Market Leases [Member]
Acquired Finite-Lived Intangible Assets
Lease assets, weighted average useful life		4 years
2851 Junction Avenue [Member]
Acquired Finite-Lived Intangible Assets
Below-Market Lease Liabilities, weighted average useful life	14 years 5 months
2851 Junction Avenue [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets
Lease assets, weighted average useful life	14 years 5 months

Recent Acquisitions of Real E53

Recent Acquisitions of Real Estate (Revenue and Net Income) (Details) - USD ($) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2015
Civica Office Commons [Member]
Business Acquisition
Revenue	$ 3,969	$ 9,849
Net income (loss)	(188)	(947)
2851 Junction Avenue [Member]
Business Acquisition
Revenue	1,680	2,571
Net income (loss)	$ 695	$ 1,028

Recent Acquisitions of Real E54

Recent Acquisitions of Real Estate (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition
Acquisition related expenses excluded from pro forma net loss			$ 1,200	$ 1,300
2015 Acquisitions [Member]
Business Acquisition
Revenue	$ 55,205	$ 65,671	168,928	195,571
Net income (loss) from continuing operations	$ (9,121)	$ (15,034)	$ 36,945	$ 67,353
Basic and diluted income (loss) from continuing operations per common share	$ (0.04)	$ (0.07)	$ 0.17	$ 0.30

Investments in Unconsolidated55

Investments in Unconsolidated Entities (Rollforward of Activity) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)	Dec. 31, 2015property
Real Estate Properties [Line Items]
Number of real estate properties (in properties) | property	14		14
Investment in Unconsolidated Entities [Roll Forward]
Beginning balance	$ 86,707	$ 146,803	$ 100,455	$ 187,668
Distributions declared	(1,382)	(2,275)	(22,174)	(76,140)
Equity in earnings (losses)	(7,874)	(5,297)	(830)	27,703
Ending balance	$ 77,451	$ 139,231	$ 77,451	$ 139,231
Unconsolidated Properties [Member] | Hines US Core Office Fund LP [Member]
Real Estate Properties [Line Items]
Number of real estate properties (in properties) | property	4		4		6

Investments in Unconsolidated56

Investments in Unconsolidated Entities (Summarized Financial Data) (Balance Sheets) (Details) - Hines US Core Office Fund LP [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
ASSETS
Cash	$ 45,547	$ 45,471
Investment property, net	0	905,229
Other assets	257	214,238
Assets held for sale	857,041	0
Total Assets	902,845	1,164,938
LIABILITIES AND EQUITY
Debt, net	0	636,239
Other liabilities	8,907	73,401
Redeemable noncontrolling interests	101,315	124,413
Liabilities associated with assets held for sale	534,405	0
Equity	258,218	330,885
Total Liabilities and Equity	$ 902,845	$ 1,164,938

Investments in Unconsolidated57

Investments in Unconsolidated Entities (Summarized Financial Data) (Statements of Operations) (Details) - Hines US Core Office Fund LP [Member] $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)property
Schedule of Equity Method Investments
Number of real estate properties sold (in properties) | property			2	2
Total revenues	$ 21,438	$ 38,470	$ 65,771	$ 124,199
Total expenses	55,107	59,277	144,413	174,912
Gain (loss) on sale of real estate investments	0	902	73,544	168,504
Net income (loss)	(33,669)	(19,905)	(5,098)	117,791
Less (income) loss allocated to noncontrolling interests	8,905	3,453	9,430	(17,626)
Net income (loss) attributable to parent	$ (24,764)	$ (16,452)	$ 4,332	$ 100,165

Investments in Unconsolidated58

Investments in Unconsolidated Entities (Narrative) (Details) $ in Thousands

Nov. 14, 2016property

Mar. 31, 2016USD ($)

Jan. 31, 2016USD ($)

Apr. 30, 2015USD ($)

Jan. 31, 2015USD ($)

Dec. 31, 2011

Sep. 30, 2016USD ($)property

Sep. 30, 2015USD ($)

Sep. 30, 2016USD ($)property

Sep. 30, 2015USD ($)property

Dec. 31, 2015property

Mar. 31, 2008USD ($)

Jul. 31, 2007USD ($)

Jun. 30, 2007USD ($)

Aug. 31, 2005USD ($)

Schedule of Equity Method Investments

Gain (loss) on sale of real estate investments, net

$ 173,344

$ 20,711

$ 209,774

$ 50,094

Impairment losses

$ 6,909

16,033

$ 30,372

$ 16,033

Number of real estate properties (in properties) | property

14

14

Hines Us Core Office Fund Lp [Member]

Schedule of Equity Method Investments

Number of real estate properties sold (in properties) | property

2

2

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member]

Schedule of Equity Method Investments

Number of real estate properties (in properties) | property

4

4

6

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | The Carillon Building [Member]

Schedule of Equity Method Investments

Real estate, contract sales price

$ 147,000

Purchase price

$ 140,000

Gain (loss) on sale of real estate investments, net

$ 58,800

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | The Carillon Building [Member] | Hines REIT [Member]

Schedule of Equity Method Investments

Gain (loss) on sale of real estate investments, net

14,400

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | Five Twenty Five B Street [Member]

Schedule of Equity Method Investments

Real estate, contract sales price

$ 122,000

Purchase price

$ 116,300

Gain (loss) on sale of real estate investments, net

14,800

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | Five Twenty Five B Street [Member] | Hines REIT [Member]

Schedule of Equity Method Investments

Gain (loss) on sale of real estate investments, net

3,600

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | One North Wacker [Member]

Schedule of Equity Method Investments

Real estate, contract sales price

$ 240,000

Purchase price

$ 540,000

Gain (loss) on sale of real estate investments, net

$ 140,200

Ownership percentage sold

51.00%

49.00%

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | One North Wacker [Member] | Hines REIT [Member]

Schedule of Equity Method Investments

Gain (loss) on sale of real estate investments, net

$ 34,300

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | Charlotte Plaza [Member]

Schedule of Equity Method Investments

Real estate, contract sales price

$ 160,000

Purchase price

$ 175,500

Gain (loss) on sale of real estate investments, net

$ 27,400

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | Charlotte Plaza [Member] | Hines REIT [Member]

Schedule of Equity Method Investments

Gain (loss) on sale of real estate investments, net

6,700

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | One and Two Renaissance Square and Warner Center [Member]

Schedule of Equity Method Investments

Impairment losses

$ 30,600

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | One and Two Renaissance Square [Member]

Schedule of Equity Method Investments

Impairment losses

$ 66,600

Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member] | Riverfront Plaza [Member]

Schedule of Equity Method Investments

Impairment losses

$ 16,700

$ 38,800

Subsequent Event [Member] | Hines Us Core Office Fund Lp [Member] | Indirectly-Owned Properties [Member]

Schedule of Equity Method Investments

Number of real estate properties sold (in properties) | property

2

Number of real estate properties under contract to sell (in properties) | property

1

Number of real estate properties being marketed for sale (in properties) | property

1

Debt Financing (Narratives) (De

Debt Financing (Narratives) (Details) $ in Thousands	1 Months Ended					9 Months Ended	12 Months Ended
	Aug. 31, 2016USD ($)property	Jul. 31, 2016USD ($)	May 31, 2016USD ($)	Apr. 30, 2016USD ($)	Jan. 31, 2016USD ($)	Sep. 30, 2016USD ($)property	Dec. 31, 2015USD ($)
Debt Instrument
Principal outstanding							$ 853,440
Debt weighted average years to maturity							1 year 1 month 12 days
Debt, weighted average interest rate							3.90%
Number of real estate properties (in properties) | property						14
Revolving Credit Facility - Revolving Loan [Member]
Debt Instrument
Proceeds from lines of credit						$ 280,600
Repayments of lines of credit						225,000
Revolving Credit Facility - Term Loan [Member]
Debt Instrument
Repayments of lines of credit						$ 200,000
1515 S. Street [Member] | Mortgages [Member]
Debt Instrument
Principal outstanding							$ 36,618
Prepayment penalty				$ 100
345 Inverness Drive [Member] | Mortgages [Member]
Debt Instrument
Principal outstanding							14,224
Prepayment penalty			$ 500
JP Morgan Chase Tower [Member] | Mortgages [Member]
Debt Instrument
Principal outstanding							149,542
Repayments of debt					$ 100,000
Thompson Bridge Commons [Member] | Mortgages [Member]
Debt Instrument
Principal outstanding							$ 4,959
Prepayment penalty	$ 400
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | 3400 Data Drive [Member] | Mortgages [Member] | Deutsche Bank [Member]
Debt Instrument
Repayments of debt		$ 18,100
Grocery Anchored Portfolio [Member]
Debt Instrument
Number of real estate properties (in properties) | property	7					8
Grocery Anchored Portfolio [Member] | Revolving Credit Facility - Term Loan [Member]
Debt Instrument
Repayments of lines of credit						$ 132,000
321 North Clark [Member] | Revolving Credit Facility - Term Loan [Member]
Debt Instrument
Repayments of lines of credit						$ 68,000

Debt Financing (Details)

Debt Financing (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument
Principal outstanding		$ 853,440
Unamortized Premium/ (Discount)		(6)
Unamortized Deferred Financing Fees		(1,189)
NOTES PAYABLE	$ 0	852,245
Secured Mortgage Debt [Member] | 1515 S. Street [Member]
Debt Instrument
Principal outstanding		36,618
Secured Mortgage Debt [Member] | 345 Inverness Drive [Member]
Debt Instrument
Principal outstanding		14,224
Secured Mortgage Debt [Member] | JP Morgan Chase Tower [Member]
Debt Instrument
Principal outstanding		149,542
Secured Mortgage Debt [Member] | Thompson Bridge Commons [Member]
Debt Instrument
Principal outstanding		4,959
Secured Mortgage Debt [Member] | 321 North Clark, 1900 and 2000 Alameda [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding		169,697
Secured Mortgage Debt [Member] | 3400 Data Drive, 2100 Powell [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding		98,000
Secured Mortgage Debt [Member] | Daytona And Laguna Buildings [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding		119,000
Revolving Credit Facility - Revolving Loan [Member]
Debt Instrument
Interest Rate	2.13%
Principal outstanding		61,400
Revolving Credit Facility - Term Loan [Member]
Debt Instrument
Principal outstanding		$ 200,000
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Debt Instrument
Principal outstanding, assets held for sale	$ 0
Unamortized Premium/ (Discount)	0
Unamortized Deferred Financing Fees	0
NOTES PAYABLE	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | 1515 S. Street [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | 345 Inverness Drive [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | JP Morgan Chase Tower [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | Thompson Bridge Commons [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | 321 North Clark, 1900 and 2000 Alameda [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | 3400 Data Drive, 2100 Powell [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Secured Mortgage Debt [Member] | Daytona And Laguna Buildings [Member] | Deutsche Bank [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Revolving Credit Facility - Revolving Loan [Member]
Debt Instrument
Principal outstanding, assets held for sale	0
Disposal Group, Held-for-sale, Not Discontinued Operations [Member] | Revolving Credit Facility - Term Loan [Member]
Debt Instrument
Principal outstanding, assets held for sale	$ 0

Derivative Instruments (Carryin

Derivative Instruments (Carrying Value) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Derivatives, Fair Value
Interest rate swap contracts	$ 0		$ 0		$ 17,448
Gain (loss) on interest rate swap, net	3,913	$ 3,922	12,311	$ 11,449
Interest Rate Swap [Member]
Derivatives, Fair Value
Gain (loss) on interest rate swap, net	3,913	$ 3,922	12,311	$ 11,449
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Derivatives, Fair Value
Interest rate swap contracts, assets held for sale	$ 0		$ 0

Distributions Narrative (Detail

Distributions Narrative (Details)	9 Months Ended
	Sep. 30, 2016$ / shares
Distributions Declared for January 2015 through June 2016 [Member]
Distributions
Common stock dividends (in dollars per share, per day)	$ 0.00073973

Distributions (Details)

Distributions (Details) - USD ($) $ in Thousands	3 Months Ended							9 Months Ended	12 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2016	Dec. 31, 2015
Distributions
Cash Distributions	$ 0	$ 14,920	$ 9,626	$ 9,717	$ 9,731	$ 9,645	$ 9,507	$ 24,546	$ 38,600
Distributions Reinvested	0	0	5,326	5,426	5,445	5,416	5,424	5,326	21,711
Total Declared	0	14,920	14,952	15,143	15,176	15,061	14,931	29,872	60,311
Noncontrolling Interests, Total Declared	$ 0	74	75	75	76	74	74	$ 149	$ 299
Participation Interest [Member]
Distributions
Total Declared		$ 1,300	$ 1,300	$ 1,300	$ 1,200	$ 1,200	$ 1,100

Related Party Transactions (By

Related Party Transactions (By Category) (Details) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	May 31, 2015	Feb. 28, 2015	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction
Participation interest liability			$ 133,942		$ 133,942		$ 126,637
Due to Affiliates			3,438		$ 3,438		4,501
Minimum [Member]
Related Party Transaction
Anticipated per share distribution rate (per share)					$ 6.35
Maximum [Member]
Related Party Transaction
Anticipated per share distribution rate (per share)					$ 6.65
HALP Associates Limited Partnership [Member] | Participation Interest In Operating Partnership [Member]
Related Party Transaction
Expenses incurred to related parties			3,386	$ 7,652	$ 11,164	$ 17,358
Participation interest liability			133,942		133,942		126,637
HALP Associates Limited Partnership [Member] | Participation Interest In Operating Partnership [Member] | 2851 Junction Avenue [Member]
Related Party Transaction
Acquisition fees waived	$ 400
HALP Associates Limited Partnership [Member] | Participation Interest In Operating Partnership [Member] | Civica Office Commons [Member]
Related Party Transaction
Acquisition fees waived		$ 1,000
The Advisor [Member] | 2851 Junction Avenue [Member]
Related Party Transaction
Acquisition fees	900
Acquisition fees waived	$ 300
The Advisor [Member] | Civica Office Commons [Member]
Related Party Transaction
Acquisition fees		2,100
Acquisition fees waived		$ 600
The Advisor [Member] | Acquisition Fee [Member]
Related Party Transaction
Expenses incurred to related parties			0	0	0	580
Due to Affiliates			0		0		0
The Advisor [Member] | Asset Management Fee [Member]
Related Party Transaction
Expenses incurred to related parties			3,156	3,412	9,942	10,254
Due to Affiliates			1,022		1,022		1,131
The Advisor [Member] | Other [Member]
Related Party Transaction
Expenses incurred to related parties			1,432	871	3,191	2,615
Due to Affiliates			474		474		633
Hines [Member] | Property Management Fee [Member]
Related Party Transaction
Expenses incurred to related parties			921	1,239	3,239	3,784
Due to Affiliates			(63)		(63)		99
Hines [Member] | Leasing Fee [Member]
Related Party Transaction
Expenses incurred to related parties			775	258	2,116	2,564
Due to Affiliates			1,733		1,733		2,240
Hines [Member] | Tenant Construction Management Fee [Member]
Related Party Transaction
Expenses incurred to related parties			157	80	212	105
Due to Affiliates			9		9		0
Hines [Member] | Expense Reimbursement [Member]
Related Party Transaction
Expenses incurred to related parties			1,725	$ 2,822	7,286	$ 8,744
Due to Affiliates			$ 263		$ 263		$ 398

Changes in Other Assets and Lia

Changes in Other Assets and Liabilities (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Increase (Decrease) in Operating Capital [Abstract]
Change in other assets	$ 864	$ 514
Change in tenant and other receivables, net	(4,113)	(3,909)
Change in deferred leasing costs, net	(38,224)	(47,274)
Change in accounts payable and accrued expenses	(2,775)	13,605
Change in participation interest liability	7,305	13,971
Change in other liabilities	(1,759)	(1,213)
Change in due to affiliates	(1,060)	(648)
Changes in assets and liabilities	$ (39,762)	$ (24,954)

Supplemental Cash Flow Disclo66

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$ 21,074	$ 23,224
Cash paid for income taxes	217	327
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	0	15,251	$ 15,219
Distributions receivable	1,382	2,275	$ 1,757
Distributions reinvested	10,752	16,413
Shares tendered for redemption	0	7,484
Noncash net assets (liabilities) acquired upon acquisition of property	$ 0	$ (6,734)

Fair Value Disclosures (Derivat

Fair Value Disclosures (Derivative Hedging Instruments) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Interest rate swap contracts	$ 0	$ 17,448
Fair Value Measurements Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Interest rate swap contracts		17,448
Fair Value Measurements Recurring [Member] | Fair Value Inputs Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Interest rate swap contracts		$ 17,448
Disposal Group, Held-for-sale, Not Discontinued Operations [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Interest rate swap contracts, assets held for sale	$ 0

Fair Value Disclosures Fair Val

Fair Value Disclosures Fair Value Disclosures (Narratives) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Long-term debt, gross		$ 853,440,000
Notes payable, fair value	$ 0	$ 866,300,000

Fair Value Disclosures Fair V69

Fair Value Disclosures Fair Value Disclosures (Impairment of Investment Property) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)property	Sep. 30, 2016USD ($)property	Sep. 30, 2015USD ($)property	Dec. 31, 2015USD ($)property$ / ft²
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Impairment losses	$ 6,909	$ 16,033	$ 30,372	$ 16,033
Impaired Property [Member] | Fair Value, Measurements, Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Assets Held-for-sale, Long Lived, Fair Value Disclosure	265,200		265,200
Property, Plant, and Equipment, Fair Value Disclosure					$ 306,900
Impairment of assets held for sale			27,488
Impairment losses					19,663
Impaired Property [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value Inputs Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Assets Held-for-sale, Long Lived, Fair Value Disclosure	$ 265,200		$ 265,200
Impaired Property [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Property, Plant, and Equipment, Fair Value Disclosure					$ 306,900
Minimum [Member] | Impaired Property [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Discount rate (as a percent)					7.00%
Capitalization rate (as a percent)					4.70%
Stabilized occupancy rate (as a percent)					93.00%
Current market rental rates (in usd per sqft) | $ / ft²					21.50
Maximum [Member] | Impaired Property [Member] | Fair Value, Measurements, Nonrecurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Discount rate (as a percent)					8.30%
Capitalization rate (as a percent)					9.70%
Stabilized occupancy rate (as a percent)					94.00%
Current market rental rates (in usd per sqft) | $ / ft²					30
Wholly Owned Properties [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis
Number Of Impaired Real Estate Properties | property	3	2	4	2	2
Impairment of assets held for sale	$ 6,900		$ 30,400
Impairment losses		$ 16,000		$ 16,000

Reportable Segments (Narratives

Reportable Segments (Narratives) (Details)	9 Months Ended
	Sep. 30, 2016propertyshopping_centersegment	Apr. 30, 2015property
Segment Reporting Information
Number of Reportable Segments | segment	3
Number of real estate properties (in properties)	14
Office properties [Member]
Segment Reporting Information
Number of real estate properties (in properties)	13
Retail properties [Member]
Segment Reporting Information
Number of real estate properties (in properties)	1
Wholly Owned Properties [Member] | Office Building [Member] | Office properties [Member]
Segment Reporting Information
Number of real estate properties (in properties)	9
Wholly Owned Properties [Member] | Retail Site [Member] | Retail properties [Member]
Segment Reporting Information
Number of real estate properties (in properties) | shopping_center	1
Wholly Owned Properties [Member] | Industrial Property [Member] | Industrial property [Member]
Segment Reporting Information
Number of real estate properties (in properties)		1
Unconsolidated Properties [Member] | Office Building [Member] | Office properties [Member]
Segment Reporting Information
Number of real estate properties (in properties)	4

Reportable Segments (Income Los

Reportable Segments (Income Loss) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information
Total revenue	$ 42,119	$ 55,205	$ 144,495	$ 164,745
Total segment net property revenues in excess of expenses	27,824	31,223	83,677	92,150
Equity in earnings (losses) of unconsolidated entities, net	(7,874)	(5,297)	(830)	27,703
Indirectly-Owned Properties [Member] | Office properties [Member]
Segment Reporting Information
Equity in earnings (losses) of unconsolidated entities, net	(7,874)	(5,297)	(830)	27,703
Operating Segments [Member] | Directly-Owned Properties [Member] | Office properties [Member]
Segment Reporting Information
Total revenue	39,572	50,534	132,568	150,233
Total segment net property revenues in excess of expenses	26,076	27,942	75,874	82,087
Operating Segments [Member] | Directly-Owned Properties [Member] | Industrial property [Member]
Segment Reporting Information
Total revenue	0	0	0	936
Total segment net property revenues in excess of expenses	0	0	(32)	487
Operating Segments [Member] | Directly-Owned Properties [Member] | Retail properties [Member]
Segment Reporting Information
Total revenue	2,547	4,671	11,927	13,576
Total segment net property revenues in excess of expenses	$ 1,748	$ 3,281	$ 7,835	$ 9,576

Reportable Segments (Assets) (D

Reportable Segments (Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Total Assets
Assets	$ 1,418,831	$ 2,183,731
Office properties [Member] | Wholly Owned Properties [Member]
Total Assets
Assets	1,203,796	1,853,435
Office properties [Member] | Unconsolidated Properties [Member]
Total Assets
Assets	77,451	100,455
Retail properties [Member] | Wholly Owned Properties [Member]
Total Assets
Assets	54,012	185,850
Corporate, Non-Segment [Member]
Total Assets
Assets	$ 83,572	$ 43,991

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Segment Reporting Information
Total segment net property revenues in excess of expenses	$ 27,824	$ 31,223	$ 83,677	$ 92,150
Depreciation and amortization	0	(21,491)	(38,190)	(66,782)
Acquisition related expenses	0	(39)	0	(639)
Asset management and acquisition fees	(6,542)	(11,064)	(21,106)	(28,192)
General and administrative	(2,101)	(1,648)	(5,346)	(5,078)
Transaction expenses	(928)	0	(4,391)	0
Impairment losses	(6,909)	(16,033)	(30,372)	(16,033)
Gain (loss) on derivative instruments, net	3,913	3,922	12,311	11,449
Gain (loss) on settlement of debt	(380)	0	(978)	0
Equity in earnings (losses) of unconsolidated entities, net	(7,874)	(5,297)	(830)	27,703
Gain (loss) on sale of real estate investments, net	173,344	20,711	209,774	50,094
Interest expense	(4,380)	(9,397)	(21,202)	(28,717)
Interest income	62	12	125	33
Benefit (provision) for income taxes	43	(59)	(33)	(171)
Income (loss) from discontinued operations, net of taxes	(7)	(4)	(22)	(165)
Net income (loss)	176,065	(9,164)	183,417	35,652
Segment Reconciling Items [Member]
Segment Reporting Information
Total segment net property revenues in excess of expenses	27,824	31,223	83,677	92,150
Depreciation and amortization	0	(21,491)	(38,190)	(66,782)
Acquisition related expenses	0	(39)	0	(639)
Asset management and acquisition fees	(6,542)	(11,064)	(21,106)	(28,192)
General and administrative	(2,101)	(1,648)	(5,346)	(5,078)
Transaction expenses	(928)	0	(4,391)	0
Impairment losses	(6,909)	(16,033)	(30,372)	(16,033)
Gain (loss) on derivative instruments, net	3,913	3,922	12,311	11,449
Gain (loss) on settlement of debt	(380)	0	(978)	0
Equity in earnings (losses) of unconsolidated entities, net	(7,874)	(5,297)	(830)	27,703
Gain (loss) on sale of real estate investments, net	173,344	20,711	209,774	50,094
Interest expense	(4,380)	(9,397)	(21,202)	(28,717)
Interest income	62	12	125	33
Benefit (provision) for income taxes	43	(59)	(33)	(171)
Income (loss) from discontinued operations, net of taxes	(7)	(4)	(22)	(165)
Net income (loss)	$ 176,065	$ (9,164)	$ 183,417	$ 35,652

Subsequent Events (Details)

Subsequent Events (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)property	Sep. 30, 2016USD ($)property	Nov. 30, 2016USD ($)	Oct. 31, 2016USD ($)	Aug. 31, 2016USD ($)property	Jun. 29, 2016USD ($)property	Feb. 28, 2015USD ($)	Jan. 31, 2014USD ($)	Jun. 30, 2005USD ($)
Subsequent Event
Number of real estate properties (in properties) | property	14	14
Champions Village [Member] | Subsequent Event [Member]
Subsequent Event
Sales price				$ 50
Grocery Anchored Portfolio [Member]
Subsequent Event
Sales price					$ 158
Number of real estate properties (in properties) | property	8	8			7
Purchase price								$ 178.2
West Coast Assets [Member]
Subsequent Event
Sales price						$ 1,162
Number of real estate properties (in properties) | property						7
Purchase price									$ 1,100
West Coast Assets [Member] | Subsequent Event [Member]
Subsequent Event
Sales price			$ 1,162
Civica Office Commons [Member]
Subsequent Event
Purchase price							$ 205.5
Civica Office Commons [Member] | Subsequent Event [Member]
Subsequent Event
Sales price			$ 193
Wholly Owned Properties [Member]
Subsequent Event
Impairment of assets held for sale	$ 6.9	$ 30.4