Gramercy Property Trust 10-Q 5 May 16 2016 Q1 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	3 Months Ended
	Mar. 31, 2016	Apr. 29, 2016
Document And Entity Information [Abstract]
Entity Registrant Name	Gramercy Property Trust
Entity Central Index Key	1,297,587
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Trading Symbol	gpt
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		421,637,223

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Real estate investments, at cost:
Land	$ 683,110	$ 702,557
Building and improvements	3,279,424	3,313,747
Less: accumulated depreciation	(114,389)	(84,627)
Total real estate investments, net	3,848,145	3,931,677
Cash and cash equivalents	67,124	128,031
Restricted cash	166,552	17,354
Investment in unconsolidated equity investments	527,269	580,000
Servicing advances receivable	0	1,382
Retained CDO bonds	8,786	7,471
Assets held for sale, net	10,548	420,485
Tenant and other receivables, net	43,209	34,234
Acquired lease assets, net of accumulated amortization of $84,671 and $54,323	631,048	682,174
Deferred costs, net of accumulated amortization of $1,558 and $892	17,152	13,950
Goodwill	3,477	3,568
Other assets	24,999	14,192
Total assets	5,348,309	5,834,518
Liabilities:
Senior unsecured revolving credit facility	122,760	296,724
Exchangeable senior notes, net	107,205	106,581
Mortgage notes payable, net	491,360	530,222
Total long-term debt, net	2,095,260	2,257,651
Accounts payable and accrued expenses	29,667	59,808
Dividends payable	46,790	8,980
Accrued interest payable	5,860	4,546
Deferred revenue	36,041	36,031
Below market lease liabilities, net of accumulated amortization of $21,240 and $17,083	238,115	242,456
Liabilities related to assets held for sale	376	291,364
Derivative instruments, at fair value	27,461	3,442
Other liabilities	9,060	8,271
Total liabilities	$ 2,488,630	$ 2,912,549
Commitments and contingencies
Noncontrolling interest in operating partnership	$ 11,334	$ 10,892
Equity:
Common shares, par value $0.01, 421,500,741 and 420,523,153 shares issued and outstanding at March 31, 2016 and December 31, 2015, respectively.	4,215	4,205
Additional paid-in-capital	3,880,925	3,879,932
Accumulated other comprehensive loss	(20,527)	(5,751)
Accumulated deficit	(1,100,285)	(1,051,454)
Total shareholders' equity	2,848,722	2,911,326
Noncontrolling interest in other partnerships	(377)	(249)
Total equity	2,848,345	2,911,077
Total liabilities and equity	5,348,309	5,834,518
Series A Preferred Stock [Member]
Equity:
Series A cumulative redeemable preferred shares, par value $0.01, liquidation preference $87,500, 3,500,000 shares authorized, issued and outstanding at March 31, 2016.	84,394	84,394
Notes Payable [Member]
Liabilities:
Unsecured debt	148,935	99,124
Term Loan [Member]
Liabilities:
Unsecured debt	$ 1,225,000	$ 1,225,000

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Acquired lease assets, accumulated amortization (in dollars)	$ 84,671	$ 54,323
Deferred costs, accumulated amortization (in dollars)	1,558	406
Below market lease liabilities, accumulated amortization (in dollars)	$ 21,240	$ 17,803
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares issued	421,500,741	420,523,153
Common stock, shares outstanding	421,500,741	420,523,153
Cumulative redeemable preferred stock, par value (in usd per share)	$ 0.01	$ 0.01
Cumulative redeemable preferred stock, shares authorized	10,000,000	10,000,000
Series A Preferred Stock [Member]
Cumulative redeemable preferred stock, par value (in usd per share)	$ 0.01
Cumulative redeemable preferred stock, liquidation preference (in dollars)	$ 87,500
Cumulative redeemable preferred stock, shares authorized	3,500,000
Cumulative redeemable preferred stock, shares issued	3,500,000
Cumulative redeemable preferred stock, shares outstanding	3,500,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Rental revenue	$ 92,095	$ 31,190
Third-party management fees	5,046	8,186
Operating expense reimbursements	22,582	8,138
Investment income	443	238
Other income	379	183
Total revenues	120,545	47,935
Operating Expenses
Property operating expenses	24,169	8,383
Property management expenses	4,521	5,166
Depreciation and amortization	58,248	18,698
General and administrative expenses	7,722	4,773
Acquisition and merger-related expenses	410	3,506
Total operating expenses	95,070	40,526
Operating Income	25,475	7,409
Other Expense:
Interest expense	(21,953)	(6,270)
Equity in net loss of unconsolidated equity investments	(2,755)	(1)
Loss on extinguishment of debt	(5,757)	0
Income (loss) from continuing operations before provision for taxes	(4,990)	1,138
Provision for taxes	(703)	(1,114)
Income (loss) from continuing operations	(5,693)	24
Income (loss) from discontinued operations	2,710	(62)
Gain on extinguishment of debt	1,930	0
Income (loss) from discontinued operations	4,640	(62)
Net loss	(1,053)	(38)
Net loss attributable to noncontrolling interest	120	42
Net income (loss) attributable to Gramercy Property Trust	(933)	4
Preferred share dividends	(1,559)	(1,559)
Net loss available to common shareholders	$ (2,492)	$ (1,555)
Basic earnings per share:
Net income (loss) from continuing operations, after preferred dividends (in usd per share)	$ (0.02)	$ (0.01)
Net income (loss) from discontinued operations (in usd per share)	0.01	0
Net loss available to common stockholders (in usd per share)	(0.01)	(0.01)
Diluted earnings per share:
Net loss from continuing operations, after preferred dividends (in usd per share)	(0.02)	(0.01)
Net income (loss) from discontinued operations (in usd per share)	0.01	0
Net loss available to common stockholders (in usd per share)	$ (0.01)	$ (0.01)
Basic weighted average common shares outstanding (in shares)	420,181,216	149,115,357
Diluted weighted average common shares and common share equivalents outstanding (in shares)	420,181,216	149,115,357

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net loss	$ (1,053)	$ (38)
Other comprehensive income (loss):
Unrealized gain on available for sale debt securities	934	5,750
Unrealized loss on derivative instruments	(22,189)	(2,132)
Foreign currency translation adjustments	6,119	(218)
Reclassification of unrealized loss of terminated derivative instruments into earnings	360	0
Other comprehensive income (loss)	(14,776)	3,400
Comprehensive income (loss)	(15,829)	3,362
Net loss attributable to noncontrolling interest	120	42
Other comprehensive (income) loss attributable to noncontrolling interest	48	(38)
Comprehensive income (loss) attributable to Gramercy Property Trust	$ (15,661)	$ 3,366

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Shareholders' Equity (Deficit) and Noncontrolling Interests - 3 months ended Mar. 31, 2016 - USD ($) $ in Thousands	Total	Total Gramercy Property Trust [Member]	Common Shares [Member]	Preferred Shares [Member]	Additional Paid-in Capital [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Retained Earnings/(Accumulated Deficit) [Member]	Noncontrolling Interest [Member]
Balance (in shares) at Dec. 31, 2015	420,523,153		420,523,153
Balance at Dec. 31, 2015	$ 2,911,077	$ 2,911,326	$ 4,205	$ 84,394	$ 3,879,932	$ (5,751)	$ (1,051,454)	$ (249)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,045)	(933)					(933)	(112)
Change in net unrealized loss on derivative instruments	(22,189)	(22,189)				(22,189)
Change in net unrealized gain on debt securities	934	934				934
Reclassification of unrealized loss of terminated derivative instruments into earnings	360	360
Share based compensation - fair value (in shares)			860,103
Share based compensation - fair value	1,519	1,519	$ 9		1,510
Proceeds from stock options exercised (in shares)			47,844
Proceeds from share options exercised	167	167			167
Conversion of Legacy OP Units to commons shares (in shares)			69,641
Conversion of Legacy OP Units to common shares	524	524	$ 1		523
Reallocation of noncontrolling interest in the operating partnership	(1,207)	(1,207)			(1,207)
Foreign currency translation adjustment	6,103	6,119				6,119		(16)
Dividends on preferred shares	(1,559)	(1,559)					(1,559)
Dividends on common shares	$ (46,339)	(46,339)					(46,339)
Balance (in shares) at Mar. 31, 2016	421,500,741		421,500,741
Balance at Mar. 31, 2016	$ 2,848,345	$ 2,848,722	$ 4,215	$ 84,394	$ 3,880,925	$ (20,527)	$ (1,100,285)	$ (377)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Activities:
Net loss	$ (1,053)	$ (38)
Adjustments to net cash provided by operating activities:
Depreciation and amortization	58,248	18,698
Amortization of acquired leases to rental revenue and expense	(163)	(3,947)
Amortization of deferred costs	2,675	601
Amortization of discounts and other fees	(1,109)	(222)
Amortization of lease inducement costs	86	44
Straight-line rent adjustment	(6,761)	(2,172)
Distributions received from unconsolidated equity investments	9,961	103
Equity in net loss of unconsolidated equity investments	2,755	1
Loss on extinguishment of debt	3,827	0
Amortization of share-based compensation	1,150	733
Changes in operating assets and liabilities:
Restricted cash	5,598	(451)
Payment of capitalized leasing costs	(3,973)	(143)
Tenant and other receivables	(2,151)	(6,124)
Accrued interest	(8)	(10)
Other assets	(10,519)	7,686
Accounts payable, accrued expenses and other liabilities	(33,738)	(147)
Deferred revenue	(3,077)	3,841
Net cash provided by operating activities	21,748	18,443
Investing Activities:
Capital expenditures	(6,416)	(1,196)
Distributions received from unconsolidated equity investments	47,408	0
Proceeds from sale of real estate	416,094	0
Restricted cash held in escrow for 1031 exchange	(145,500)	0
Contributions to unconsolidated equity investments	(4,790)	(602)
Acquisition of real estate	(52,874)	(423,147)
Restricted cash for tenant improvements	198	(5,631)
Proceeds from repayments of servicing advances receivable	1,390	0
Net cash provided by (used in) investing activities	255,510	(430,576)
Financing Activities:
Proceeds from unsecured term loans and revolving credit facility	0	235,000
Proceeds from unsecured credit facility	75,000	0
Proceeds from senior unsecured notes	50,000	0
Repayment of unsecured term loans and revolving credit facility	(250,000)	0
Proceeds from mortgage notes payables	9,550	0
Repayment of mortgage notes payable	(198,189)	(971)
Offering costs	0	(331)
Proceeds from sale of common stock	0	16,173
Payment of deferred financing costs	(551)	(3,248)
Payment of debt extinguishment costs	(13,803)
Preferred shares dividends paid	(1,559)	(1,559)
Common shares dividends paid	(8,736)	(9,354)
Proceeds from exercise of stock options and employee purchase under the employee share purchase plan	167	14
Contributions from noncontrolling interests in other entities	0	169
Distribution to noncontrolling interest holders	(29)	(117)
Change in restricted cash from financing activities	(12)	(12)
Net cash provided by (used in) financing activities	(338,162)	235,764
Net decrease in cash and cash equivalents	(60,904)	(176,369)
Decrease in cash and cash equivalents related to foreign currency translation	(3)	15
Cash and cash equivalents at beginning of period	128,031	200,069
Cash and cash equivalents at end of period	$ 67,124	$ 23,715

Business and Organization

Business and Organization	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Business and Organization Gramercy Property Trust, or the Company or Gramercy, a Maryland real estate investment trust, or REIT, is a leading global investor and asset manager of commercial real estate. Gramercy specializes in acquiring and managing single-tenant, net leased industrial, office, and specialty properties. The Company focuses on income producing properties leased to high quality tenants in major markets in the United States and Europe. Gramercy earns revenues primarily through three sources: (i) rental revenues on properties that it owns in the United States, (ii) asset management revenues on properties owned by third parties in the United States and Europe and (iii) pro-rata rental revenues on its unconsolidated equity investments in the United States, Europe, and Asia. On December 17, 2015, Chambers Street Properties, or Chambers, a Maryland REIT, completed a merger, or the Merger, with Gramercy Property Trust Inc., or Legacy Gramercy, a Maryland corporation, pursuant to which Legacy Gramercy stockholders received 3.1898 common shares of beneficial interest of Chambers for each share of common stock of Legacy Gramercy held. Following the Merger, Chambers changed its name to “Gramercy Property Trust” and began trading on the New York Stock Exchange, or NYSE, using the “GPT” stock symbol. In the Merger, Chambers was the legal acquirer and Legacy Gramercy was the accounting acquirer for financial reporting purposes. Thus, the financial information set forth herein subsequent to the close of the Merger on December 17, 2015 reflects results of the combined company, and financial information prior to the close of the Merger reflects Legacy Gramercy results. For this reason, period to period comparisons may not be meaningful. Refer to Note 4 for additional information on the Merger. Unless the context requires otherwise, all references to “Company,” “Gramercy,” “we,” “our,” and “us” mean Legacy Gramercy and one or more of the Company’s subsidiaries for the period prior to the Merger closing and Gramercy Property Trust and one or more of the Company’s subsidiaries for periods following the Merger closing. As of March 31, 2016 , the Company owns, either directly or in an unconsolidated equity investment, a portfolio of 316 industrial, office, and specialty properties with 98.7% occupancy. Tenants include Bank of America, N.A., Healthy Way of Life II, LLC (d.b.a Life Time Fitness), Amazon.com, Inc., JPMorgan Chase Bank, N.A. Nuance Communications, Inc. and others. As of March 31, 2016 , the Company’s asset management business, which operates under the name Gramercy Asset Management, manages for third-parties approximately $900,000 of commercial real estate assets, including approximately $459,000 of assets in Europe. During the three months ended March 31, 2016 , the Company acquired three properties aggregating 621,646 square feet in two separate transactions for a total purchase price of approximately $52,750 . During the three months ended March 31, 2016 , the Company sold nine properties aggregating 2,095,194 square feet for total gross proceeds of approximately $531,500 . As of March 31, 2016 , the Company’s wholly-owned portfolio of net leased properties is summarized as follows: Property Type Number of Properties Rentable Square Feet Occupancy Industrial 154 34,384,245 98.4 % Office 113 9,865,700 98.8 % Specialty retail 9 1,187,258 100.0 % Total 276 45,437,203 98.5 % The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended, or the Internal Revenue Code or IRC, and generally will not be subject to U.S. federal income taxes to the extent it distributes its taxable income, if any, to its shareholders. The Company has in the past established, and may in the future establish taxable REIT subsidiaries, or TRSs, to effect various taxable transactions. Those TRSs would incur U.S. federal, state and local taxes on the taxable income from their activities. The Company’s operating partnership, GPT Operating Partnership LP, or the Operating Partnership, indirectly owns (i) all of the Company’s consolidated real estate investments, (ii) the Company’s interests in unconsolidated investments and (iii) the entities, primarily a TRS, that conduct the Company’s third-party asset management operations. The Company is the sole general partner and 100% owner of the Operating Partnership. The Operating Partnership is the 100% owner of all of its direct and indirect subsidiaries, except that, as of March 31, 2016 , third-party holders of limited partnership interests in Legacy Gramercy’s operating partnership, the entity that owns substantially all of Legacy Gramercy’s assets and investments, owned approximately 0.32% of the beneficial interest of the Company. These interests are referred to as the noncontrolling interests in Legacy Gramercy’s operating partnership. See Note 12 fo r more information on the Company’s noncontrolling interests.

Significant Accounting Policies

Significant Accounting Policies	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Significant Accounting Policies	Significant Accounting Policies Basis of Quarterly Presentation The accompanying Condensed Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States, or GAAP, for interim financial information and with the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, it does not include all of the information and footnotes required by GAAP for complete financial statements. In management’s opinion, all adjustments (consisting of normal recurring accruals) considered necessary for fair presentation have been included. The 2016 operating results for the period presented are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. These Condensed Consolidated Financial Statements should be read in conjunction with the Consolidated Financial Statements and accompanying notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. The Condensed Consolidated Balance Sheet at December 31, 2015 has been derived from the audited Consolidated Financial Statements at that date. Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. During the first quarter of 2016, the Company adopted ASU 2015-03, Simplifying the Presentation of Debt Issuances Costs, which requires the Company to reclassify debt financing costs, which were previously accounted for on the deferred costs line within the asset section, and present them in the balance sheet as a direct deduction from the carrying amount of the corresponding debt liability, with the exception of deferred financing costs associated with the credit facility which remain in deferred costs in the asset section on the Condensed Consolidated Balance Sheets. Deferred financing costs totaling $6,389 have been reclassified in the December 31, 2015 Condensed Consolidated Balance Sheet from the deferred costs line and netted against the corresponding debt liability. See “Recently Issued Accounting Pronouncements” below for further discussion of the new accounting guidance for deferred financing costs. Principles of Consolidation The Condensed Consolidated Financial Statements include the Company’s accounts and those of the Company’s subsidiaries which are wholly-owned or controlled by the Company, or entities which are variable interest entities, or VIEs, in which the Company is the primary beneficiary. The primary beneficiary is the party that absorbs a majority of the VIE’s anticipated losses and/or a majority of the expected returns. The Company has evaluated its investments for potential classification as variable interests by evaluating the sufficiency of each entity’s equity investment at risk to absorb losses. Entities which the Company does not control and are considered VIEs, but where the Company is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated. The equity interests of other limited partners in the Company’s operating partnerships are reflected as noncontrolling interests. Real Estate Investments The Company records acquired real estate investments as business combinations when the real estate is occupied, at least in part, at acquisition. Costs directly related to the acquisition of such investments are expensed as incurred. The Company allocates the purchase price of real estate to land, building, improvements and intangibles, such as the value of above- and below-market leases, and origination costs associated with the in-place leases at the acquisition date. The values of the above- and below-market leases are amortized and recorded as either an increase, in the case of below-market leases, or a decrease, in the case of above-market leases, to rental revenue over the remaining term of the associated lease. The values associated with in-place leases are amortized to depreciation and amortization expense over the remaining term of the associated lease. The Company assesses the fair value of the leases at acquisition based upon estimated cash flow projections that utilize appropriate discount rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. Additionally, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase at the time of acquisition. Acquired real estate investments involving sale-leasebacks that have newly-originated leases are recorded as asset acquisitions and accordingly, transaction costs incurred in connection with the acquisition are capitalized. Acquired real estate investments which are under construction are considered build-to-suit transactions and other acquired real estate investments that do not meet the definition of a business combination are recorded at cost. In build-to-suit transactions, the Company engages a developer to construct a property or provides funds to a tenant to develop a property. The Company capitalizes the funds provided to the developer/tenant and real estate taxes, if applicable, during the construction period. Certain improvements are capitalized when they are determined to increase the useful life of the building. Depreciation is computed using the straight-line method over the shorter of the estimated useful life at acquisition of the capitalized item or 40 years for buildings, five to ten years for building equipment and fixtures, and the lesser of the useful life or the remaining lease term for tenant improvements and leasehold interests. Maintenance and repair expenditures are charged to expense as incurred. In leasing space, the Company may provide funding to the lessee through a tenant allowance. If the Company is considered the owner of the leasehold improvements constructed using a tenant allowance, the Company capitalizes the amount of the allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or if the Company is not considered the owner of the improvements for accounting purposes, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of rental revenue. The Company also reviews the recoverability of the property’s carrying value when circumstances indicate a possible impairment of the value of a property, expected to result from the property’s use and eventual disposition. If management determines impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded in the Condensed Consolidated Statements of Operations to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used and for assets held for sale, an impairment loss is recorded to the extent that the carrying value exceeds the fair value less estimated cost of disposal. The estimated fair value of the asset becomes its new cost basis and if the asset is to be held and used, the new cost basis will be depreciated or amortized over its remaining useful life. Intangible Assets and Liabilities The Company follows the acquisition method of accounting for business combinations. The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, buildings and improvements on an as-if vacant basis and identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates, the value of in-place leases, and above-market and below-market ground rent intangibles. The above- and below-market lease values are amortized as a reduction of and increase to rental revenue, respectively, over the remaining non-cancelable terms of the respective leases. The value of in-place leases is amortized to depreciation and amortization expense over the remaining non-cancelable term of the respective leases. To the extent acquired leases contain fixed rate renewal options that are below-market and determined to be material, the Company amortizes such below-market lease value into rental revenue over the renewal period. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the market lease intangibles will be written off to rental revenue and any unamortized balance of the in-place lease intangibles will be written off to depreciation and amortization expense. The above- and below-market ground rent intangible values are amortized as a reduction of and increase to rent expense, respectively, over the remaining non-cancelable terms of the respective leases. If the Company terminates its lease prior to its contractual expiration and no future rent payments will be paid, any unamortized balance of the ground rent intangibles will be written off to rent expense. Intangible assets and liabilities consist of the following: March 31, 2016 December 31, 2015 Intangible assets: In-place leases, net of accumulated amortization of $75,613 and $49,125 $ 550,230 $ 644,540 Above-market leases, net of accumulated amortization of $8,879 and $5,051 75,614 94,202 Below-market ground rent, net of accumulated amortization of $179 and $147 5,204 5,236 Amounts related to assets held for sale, net of accumulated amortization of $0 — (61,804 ) Total intangible assets $ 631,048 $ 682,174 Intangible liabilities: Below-market leases, net of accumulated amortization of $21,068 and $16,934 $ 234,617 $ 255,452 Above-market ground rent, net of accumulated amortization of $172 and $149 3,498 3,522 Amounts related to liabilities of assets held for sale, net of accumulated amortization of $0 — (16,518 ) Total intangible liabilities $ 238,115 $ 242,456 The following table provides the weighted-average amortization period as of March 31, 2016 for intangible assets and liabilities and the projected amortization expense for the next five years. Weighted-Average Amortization Period April 1 to December 31, 2016 2017 2018 2019 2020 In-place leases 9.5 $ 75,472 $ 86,996 $ 74,517 $ 61,701 $ 49,432 Total to be included in depreciation and amortization expense $ 75,472 $ 86,996 $ 74,517 $ 61,701 $ 49,432 Above-market lease assets 7.5 $ 11,295 $ 13,173 $ 11,553 $ 9,987 $ 7,557 Below-market lease liabilities 20.3 (12,380 ) (13,071 ) (12,768 ) (12,517 ) (12,250 ) Total to be included in rental revenue $ (1,085 ) $ 102 $ (1,215 ) $ (2,530 ) $ (4,693 ) Below-market ground rent 42.1 $ 95 $ 127 $ 127 $ 127 $ 127 Above-market ground rent 37.3 (70 ) (94 ) (94 ) (94 ) (94 ) Total to be included in property operating expense $ 25 $ 33 $ 33 $ 33 $ 33 The Company recorded $27,560 and $7,997 of amortization of in-place lease intangible assets as part of depreciation and amortization for the three months ended March 31, 2016 and 2015 , respectively. The Company recorded $181 and $3,945 of amortization of market lease intangible assets and liabilities as an increase (decrease) to rental revenue for the three months ended March 31, 2016 and 2015 , respectively. The Company recorded $9 and $39 of amortization of ground rent intangible assets and liabilities as a reduction to other property operating expense for the three months ended March 31, 2016 and 2015 , respectively. Goodwill Goodwill represents the fair value of the collaboration expected to be achieved upon consummation of a business combination and is measured as the excess of consideration transferred over the net assets acquired at acquisition date. The Company initially recognized goodwill of $3,887 related to the acquisition of Gramercy Europe Asset Management, however during the second quarter of 2015, as a result of finalization of the purchase price allocation for the acquisition, the Company decreased the amount allocated to goodwill by $85 and thus the final purchase price allocation to goodwill as a result of the acquisition was $3,802 . The adjustment to goodwill for the finalized purchase price was primarily related to a reduction in the contract intangible value as well as an increase in the accrued income recorded for incentive fees. The carrying value of goodwill is adjusted each reporting period for the effect of foreign currency translation adjustments. The carrying value of goodwill at March 31, 2016 and December 31, 2015 was $3,477 and $3,568 , respectively. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test. The Company did not record any impairment on its goodwill during the three months ended March 31, 2016 or 2015 . Unconsolidated Equity Investments The Company accounts for substantially all of its unconsolidated equity investments under the equity method of accounting since it exercises significant influence, but does not unilaterally control the entities, and is not considered to be the primary beneficiary. In unconsolidated equity investments, the rights of the other investors are protective and participating. Unless the Company is determined to be the primary beneficiary, these rights preclude it from consolidating the investments. The investments are recorded initially at cost as unconsolidated equity investments, as applicable, and subsequently are adjusted for equity interest in net income (loss) and cash contributions and distributions. The amount of the investments on the Condensed Consolidated Balance Sheets is evaluated for impairment at each reporting period. None of the unconsolidated equity investment debt is recourse to the Company. Transactions with unconsolidated equity method entities are eliminated to the extent of the Company’s ownership in each such entity. Accordingly, the Company’s share of net income (loss) of these equity method entities is included in consolidated net income (loss). The Company’s 5.07% investment in CBRE Strategic Partners Asia, the Company’s unconsolidated equity investment described more in Note 5, is presented in the Condensed Consolidated Financial Statements at fair value. CBRE Strategic Partners Asia is an investment company that accounts for its investments at fair value with changes in the fair value of the investments recorded in the statement of operations. See the “Fair Value Measurements” section of Note 2 as well as Note 9 , “ Fair Value Measurements,” for further discussion of the fair value accounting methodology used for CBRE Strategic Partners Asia. Carrying values of the Company’s unconsolidated equity investments were $527,269 and $580,000 at March 31, 2016 and December 31, 2015 , respectively. Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents. Restricted Cash The Company had restricted cash of $166,552 and $17,354 at March 31, 2016 and December 31, 2015 , respectively, which primarily consists of proceeds from property sales held by qualified intermediaries to be used for tax-deferred, like-kind exchanges under IRC Section 1031, as well as reserves for certain capital improvements, leasing, interest and real estate tax and insurance payments as required by certain mortgage loan obligations. Variable Interest Entities During the first quarter of 2016, the Company adopted ASU 2015-02, Amendments to the Consolidation Analysis, which modified the analysis it must perform to determine whether it should consolidate certain types of legal entities. The Company’s operating partnerships, including both the GPT Operating Partnership, or the Operating Partnership, and Gramercy Operating Partnership, which is Legacy Gramercy’s operating partnership, are VIEs under the revised guidance and the Company is the primary beneficiary of each of them, because it holds majority ownership and exercises control over every aspect of the partnerships’ operations. Because the operating partnerships were already consolidated in the Company’s balance sheets, the revised guidance has no impact on the consolidated financial statements of the Company. The assets and liabilities of the Company and its operating partnerships are substantially the same, as the Company does not have any significant assets other than its investments in the operating partnerships. All of the Company's debt is also an obligation of the operating partnerships. There were no other legal entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. In addition, there were no voting interest entities under prior existing guidance determined to be VIEs under the revised guidance. The Company had four consolidated VIEs as of March 31, 2016 and two consolidated VIEs as of December 31, 2015 . The Company had four unconsolidated VIEs as of March 31, 2016 and December 31, 2015 . The following is a summary of the Company’s involvement with VIEs as of March 31, 2016 : Company carrying value-assets Company carrying value-liabilities Face value of assets held by the VIEs Face value of liabilities issued by the VIEs Assets Consolidated VIEs Operating partnerships $ 5,348,309 $ 2,488,630 $ 5,348,309 $ 2,488,630 Proportion Foods $ 8,329 $ 550 $ 8,329 $ 8,820 Gramercy Europe Asset Management (European Fund Manager) $ 276 $ 1,029 $ 276 $ 1,029 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 11 $ 28 Retained CDO Bonds $ 8,786 $ — $ 1,202,885 $ 1,197,539 The following is a summary of the Company’s involvement with VIEs as of December 31, 2015 : Company carrying value-assets Company carrying value-liabilities Face value of assets held by the VIEs Face value of liabilities issued by the VIEs Assets Consolidated VIEs Proportion Foods $ 7,949 $ 16 $ 7,949 $ 8,183 Gramercy Europe Asset Management (European Fund Manager) $ 334 $ 832 $ 334 $ 832 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 11 $ 16 Retained CDO Bonds $ 7,471 $ — $ 1,382,373 $ 1,282,583 Consol idated VIEs Proportion Foods In December 2015, the Company entered into a non-recourse financing arrangement with Big Proportion Austin LLC, or BIG, for a build-to-suit industrial property in Round Rock, Texas, or Proportion Foods. Concurrently, the Company entered into a forward purchase agreement with BIG, pursuant to which the Company will acquire the property, which is 100% leased to Proportion Foods, upon substantial completion of the facility’s development. The Company has determined that Proportion Foods is a VIE, as the equity holders of the entity do not have controlling financial interests and the obligation to absorb losses. The Company controls the activities that most significantly affect the economic outcome of Proportion Foods through its financing arrangement to fund the property’s development and its forward purchase agreement with BIG. As such, the Company has concluded that it is the entity’s primary beneficiary and has consolidated the VIE. The Company has a note receivable from BIG related to the financing arrangement, which is a note payable for BIG and thus eliminates upon consolidation of the VIE. The construction of the facility on the property is expected to be complete in December 2016 and the Company has committed $24,950 in financing for the construction. BIG is responsible for funding in excess of the $24,950 mortgage note. As of March 31, 2016 , the Company has funded $8,270 for the property. Gramercy Europe Asset Management (European Fund Manager) In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired equity interests in the entity, hereinafter European Fund Manager, which provides investment and asset management services to Gramercy European Property Fund. The Company has determined that European Fund Manager is a VIE, as the equity holders of that entity do not have controlling financial interests and the obligation to absorb losses. As Gramercy Europe Asset Management, through an investment advisory agreement with the VIE, controls the activities that most significantly affect the economic outcome of European Fund Manager, the Company has concluded that it is the entity’s primary beneficiary and has consolidated the VIE. European Fund Manager is expected to generate net cash inflows for the Company in the form of management fees in the future, however, if the VIE’s cash inflows are not sufficient to cover its obligations, the Company may provide financial support for the VIE. Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired equity interests in the entity, hereinafter European Fund Carry Co., entitled to receive certain preferential distributions, if any, made from time-to-time by Gramercy European Property Fund. The Company has determined that European Fund Carry Co. is a VIE, as the equity holders of that entity do not have controlling financial interests and the obligation to absorb losses. Decisions that most significantly affect the economic performance of European Fund Carry Co. are decided by a majority vote of that VIE’s shareholders. As such, the Company does not have a controlling financial interest in the VIE and has accounted for it as an equity investment. As of March 31, 2016 and December 31, 2015 , European Fund Carry Co. had net assets of $(17) and $(5) . Investment in Retained CDO Bonds The Retained CDO Bonds are non-investment grade subordinate bonds, preferred shares and ordinary shares of three collateralized debt obligations, or CDOs, which the Company recognized subsequent to the disposal of its Gramercy Finance segment, or Gramercy Finance, and exit from the commercial real estate finance business in March 2013. The Company is not obligated to provide any financial support to these CDOs. The Company’s maximum exposure to loss is limited to its interest in the Retained CDO Bonds and the Company does not control the activities that most significantly impact the VIE’s economic performance. Assets Held for Sale and Discontinued Operations As of March 31, 2016 and December 31, 2015 , the Company had one and six assets classified as held for sale, respectively, which represent legacy Chambers properties that qualified as held for sale as of the closing date of the Merger and are included within discontinued operations, in accordance with ASC 360, as these assets acquired in the Merger do not align with the Company’s investment strategy and therefore will be sold. Real estate investments to be disposed of are reported at the lower of carrying amount or estimated fair value, less costs to sell. Once an asset is classified as held for sale, depreciation and amortization expense is no longer recorded. Refer to Note 3 for further information on the Company’s assets held for sale and discontinued operations. Tenant and Other Receivables Tenant and other receivables are derived from management fees, rental revenue and tenant reimbursements. Management fees, including incentive management fees, are recognized as earned in accordance with the terms of the management agreements. The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets. Rental revenue is recorded on a straight-line basis over the initial term of the lease. Since many leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that will only be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Tenant and other receivables also include receivables related to tenant reimbursements for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred. Tenant and other receivables are recorded net of the allowances for doubtful accounts, which as of March 31, 2016 and December 31, 2015 were $261 and $204 , respectively. The Company continually reviews receivables related to rent, tenant reimbursements, and management fees, including incentive fees, and determines collectability by taking into consideration the tenant or asset management clients’ payment history, the financial condition of the tenant or asset management client, business conditions in the industry in which the tenant or asset management client operates and economic conditions in the area in which the property or asset management client is located. In the event that the collectability of a receivable is in doubt, the Company increases the allowance for doubtful accounts or records a direct write-off of the receivable. Deferred Costs Deferred costs consist of deferred financing costs, deferred acquisition costs, and deferred leasing costs. Deferred costs are presented net of accumulated amortization. The Company’s deferred financing costs are comprised of costs associated with the Company’s unsecured credit facilities and include commitment fees, issuance costs, and legal and other third-party costs associated with obtaining the related financing. Deferred financing costs are amortized on a straight-line or effective interest basis over the contractual terms of the respective agreements and the amortization is reflected as interest expense. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. During the first quarter of 2016, the Company adopted accounting guidance related to the presentation of deferred financing costs on the balance sheet and reclassified amounts from the deferred costs line pertaining to debt arrangements other than its unsecured credit facilities, that were within the asset section, to instead be netted against the corresponding debt liability for all periods presented. See “Recently Issued Accounting Pronouncements” below for further discussion of the new accounting guidance for deferred financing costs. The Company’s deferred acquisition costs consist primarily of lease inducement fees paid to secure acquisitions and are amortized on a straight-line basis over the related lease term as a reduction from rental revenue. The Company’s deferred leasing costs include direct costs, such as lease commissions, incurred to initiate and renew operating leases and are amortized on a straight-line basis over the related lease term as a reduction from rental revenue. Fair Value Measurements At March 31, 2016 and December 31, 2015 , the Company measured its Retained CDO Bonds, derivative instruments, and CBRE Strategic Partners Asia on a recurring basis and measured its real estate investments classified as held for sale at Merger closing on a non-recurring basis. ASC 820-10, “Fair Value Measurements and Disclosures,” among other things, establishes a hierarchical disclosure framework associated with the level of pricing observability utilized in measuring financial instruments and other assets and liabilities at fair value. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of these assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, or an exit price. The level of pricing observability generally correlates to the degree of judgment utilized in measuring the fair value of financial instruments and other assets and liabilities. The investment manager of CBRE Strategic Partners Asia applies valuation techniques for the Company’s investment carried at fair value based upon the application of the income approach, the direct market comparison approach, the replacement cost approach or third-party appraisals to the underlying assets held in the unconsolidated entity in determining the net asset value attributable to the Company’s ownership interest therein. The three broad levels defined are as follows: Level I – This level is comprised of financial instruments and other assets and liabilities that have quoted prices that are available in liquid markets for identical assets or liabilities. Level II – This level is comprised of financial instruments and other assets and liabilities for which quoted prices are available but which are traded less frequently and instruments that are measured at fair value using management’s judgment, where the inputs into the determination of fair value can be directly observed. Level III – This level is comprised of financial instruments and other assets and liabilities that have little to no pricing observability as of the reported date. These financial instruments do not have active markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment and assumptions. For a further discussion regarding fair value measurements see Note 9 , “Fair Value Measurements.” Revenue Recognition Real Estate Investments Rental revenue from leases on real estate investments is recognized on a straight-line basis over the term of the lease, regardless of when payments are contractually due. The excess of rental revenue recognized over the amounts contractually due according to the underlying leases are included in deferred revenue on the Condensed Consolidated Balance Sheets. For leases on properties that are under construction at the time of acquisition, the Company begins recognition of rental revenue upon completion of construction of the leased asset and delivery of the leased asset to the tenant. The Company’s lease agreements with tenants also generally contain provisions that require tenants to reimburse the Company for real estate taxes, insurance costs, common area maintenance costs, and other property-related expenses. Under lease arrangements in which the Company is the primary obligor for these expenses, such amounts are recognized as both revenues and operating expenses for the Company. Under lease arrangements in which the tenant pays these expenses directly, such amounts are not included in revenues or expenses. These reimbursement amounts are recognized in the period in which the related expenses are incurred. The Company recognizes sales of real estate properties only upon closing. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sale price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sale of real estate. Asset Management Business The Company’s asset and property management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets. The Company recognizes revenue for fees pursuant to its management agreements in the period in which they are earned. Management fees received prior to the date earned are included in deferred revenue on the Condensed Consolidated Balance Sheets. Certain of the Company’s asset management contracts include provisions that may allow it to earn additional fees, generally described as incentive fees or profit participation intere

Dispositions, Assets Held for S

Dispositions, Assets Held for Sale, and Discontinued Operations	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Dispositions, Assets Held for Sale, and Discontinued Operations	Dispositions, Assets Held for Sale, and Discontinued Operations Real Estate Dispositions During the three months ended March 31, 2016 , the Company sold nine properties. During the three months ended March 31, 2015 , the Company did not sell any properties. The nine property sales in 2016 consisted of all office properties that comprised an aggregate 2,095,194 square feet and generated gross proceeds of $531,500 . The Company did not recognize any gains or impairments on disposals during the three months ended March 31, 2016 . Six of the property sales in 2016 were structured as like-kind exchanges within the meaning of Section 1031 of the IRC. As a result of the sales, the Company deposited $175,808 of the total sales proceeds into an IRC Section 1031 exchange escrow account with a qualified intermediary. The Company then used $30,301 of these funds as consideration for one property acquisition during the three months ended March 31, 2016 . Five of the properties sold during the three months ended March 31, 2016 , which were sold for gross proceeds of $386,000 , represent properties assumed in the Merger that were designated as held for sale at the time of Merger closing, thus they are included in discontinued operations for all periods presented. Four of the properties sold during the three months ended March 31, 2016 , which were sold for gross proceeds of $145,500 , were also assumed in the Merger and were classified as held for sale at the time of disposition, however they are not included in discontinued operations as they did not meet the definition of discontinued operations. Assets Held for Sale The Company separately classifies properties held for sale in the Condensed Consolidated Balance Sheets and Condensed Consolidated Statements of Operations. The Company had one and six assets classified as held for sale as of March 31, 2016 and December 31, 2015 , respectively. In the normal course of business the Company identifies non-strategic assets for sale. Changes in the market may compel the Company to decide to classify a property held for sale or classify a property that was designated as held for sale back to held for investment. During the three months ended March 31, 2016 and 2015 , the Company did not reclassify any properties previously identified as held for sale to held for investment. The following table summarizes the assets held for sale and liabilities related to the assets held for sale as of March 31, 2016 and December 31, 2015 : Assets held for sale March 31, 2016 December 31, 2015 Real estate investments $ 10,522 $ 348,582 Acquired lease assets — 61,804 Other assets 26 10,099 Total assets 10,548 420,485 Liabilities related to assets held for sale Mortgage notes payable, net — 260,704 Below-market lease liabilities — 16,518 Other liabilities 376 14,142 Total liabilities 376 291,364 Net assets held for sale $ 10,172 $ 129,121 Discontinued Operations The following operating results for Gramercy Finance, the assets previously sold and the assets that were assumed in the Merger and simultaneously designated as held for sale for the three months ended March 31, 2016 and 2015 are included in discontinued operations for all periods presented: Three Months Ended March 31, 2016 2015 Operating Results: Revenues $ 5,857 $ (100 ) Operating expenses (2,180 ) 210 General and administrative expense (12 ) (172 ) Interest expense (955 ) — Gain on extinguishment of debt 1,930 — Net income (loss) from discontinued operations $ 4,640 $ (62 ) Discontinued operations have not been segregated in the Condensed Consolidated Statements of Cash Flows. The table below presents additional relevant information pertaining to results of discontinued operations for the three months ended March 31, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Three Months Ended March 31, 2016 2015 Significant operating noncash items $ (9,455 ) $ — Increase in cash and cash equivalents related to foreign currency translation 275 — Total $ (9,180 ) $ —

Real Estate Investments

Real Estate Investments	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Real Estate Investments	Real Estate Investments Property Acquisitions During the three months ended March 31, 2016 , the Company’s property acquisitions are summarized as follows: Property Type Number of Properties Purchase Price Industrial 3 621,646 $ 52,750 Total 3 621,646 $ 52,750 During the year ended December 31, 2015 , the Company’s property acquisitions are summarized as follows: Property Type (1) Number of Properties Square Feet Purchase Price Industrial (2) 95 23,972,916 $ 1,561,828 Office (2) 53 8,496,686 1,864,235 Specialty retail 10 1,330,544 300,500 Total 158 33,800,146 $ 3,726,563 (1) Includes 104 properties acquired as part of the Merger, of which 60 were industrial properties that comprise 17,355,358 square feet and 44 were office properties that comprise 7,205,381 square feet. (2) The Company assumed mortgages on 17 of its property acquisitions in 2015. The unpaid principal value of the mortgages assumed at acquisition was $153,877 . Additionally, the Company assumed 30 mortgages in connection with 29 properties acquired as part of the Merger in 2015. The unpaid principal value of the mortgages assumed with the Merger was $464,292 , of which $254,291 was classified as held for sale upon closing of the Merger. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions. The Company recorded revenues and net income for the three months ended March 31, 2016 of $652 and $464 , respectively, related to its three real estate acquisitions during the period. The Company recorded revenues and net loss for the three months ended March 31, 2015 of $3,446 and $472 , respectively, related to its 27 real estate acquisitions during the period. Property Purchase Price Allocations The Company is currently analyzing the fair value of the lease and real estate assets of ten of its property investments acquired in 2015, and accordingly, the purchase price allocations are preliminary and subject to change. The initial recording of the assets is summarized as follows: Preliminary Allocations recorded Period of Acquisition Number of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Year Ended December 31, 2015 (1) 10 $ 259,093 $ — $ — (1) Allocations exclude the 104 properties acquired as part of the Merger Portfolio, which are separately disclosed below in the section, “Merger with Chambers.” Additionally, allocations include real estate assets of $7,947 for Proportion Foods, a consolidated VIE. Refer to Note 2 for more information on Proportion Foods. During the three months ended March 31, 2016 and the year ended December 31, 2015 , the Company finalized the purchase price allocations for five and 141 properties acquired in prior periods, respectively, for which the Company had recorded preliminary purchase price allocations at the time of acquisition. The aggregate changes from the preliminary purchase price allocations to the finalized purchase price allocations, in accordance with ASU 2015-16, which the Company adopted in the third quarter of 2015, are shown in the table below: Preliminary Allocations recorded Finalized Allocations recorded Period Finalized Number of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Real Estate Assets Intangible Assets Intangible Liabilities Increase (Decrease) to Rental Revenue (Increase) Decrease to Depreciation and Amortization Expense Three Months Ended March 31, 2016 5 $ 63,309 $ 2,084 $ 184 $ 56,656 $ 8,553 $ — $ (18 ) $ 13 Year Ended December 31, 2015 (1) 141 $ 1,373,360 $ 320,066 $ 81,961 $ 1,535,763 $ 302,083 $ 226,381 $ 2,307 $ (205 ) (1) Allocations for the year ended December 31, 2015 include the 67 properties acquired as part of the Bank of America Portfolio. Pro Forma The following table summarizes, on an unaudited pro forma basis, the Company’s combined results of operations for the three months ended March 31, 2016 and 2015 as though the acquisitions closed during the three months ended March 31, 2016 and 2015 were completed on January 1, 2015. The supplemental pro forma operating data is not necessarily indicative of what the actual results of operations would have been assuming the transaction had been completed as set forth above, nor do they purport to represent the Company’s results of operations for future periods. The table includes pro forma operating results for the assets acquired in the Merger. Three Months Ended March 31, 2016 2015 Pro forma revenues $ 112,243 $ 119,034 Pro forma net income available to common shareholders (1) $ (7,558 ) $ 8,910 Pro forma income per common share-basic $ (0.02 ) $ 0.06 Pro forma income per common share-diluted $ (0.02 ) $ 0.06 Pro forma common shares-basic 420,181,216 149,937,452 Pro forma common share-diluted 420,181,216 155,132,478 (1) Net income for each period has been adjusted for acquisition costs related to the property acquisitions during the period. Merger with Chambers As described in Note 1, on December 17, 2015, the Company completed a merger transaction in which Legacy Gramercy merged with and into a subsidiary of Chambers. In accordance with ASC 805, Business Combinations, the Merger was accounted for as a reverse acquisition, with Chambers as the legal acquirer and Legacy Gramercy as the accounting acquirer for financial reporting purposes. At Merger closing, each share of Legacy Gramercy common stock, par value $0.001 per share, that was issued and outstanding immediately prior to the effective time of the Merger, was canceled and converted into the right to receive 3.1898 common shares, par value $0.01 per share, of the Company. Because the Merger is accounted for as a reverse acquisition, consideration for the Merger is computed as if Legacy Gramercy had issued its equity interests to Chambers shareholders. Consideration for the Merger was $1,829,241 , based on Legacy Gramercy’s closing stock price of $24.63 on December 17, 2015, the number of Chambers common shares outstanding at the close of the Merger, and the Merger Agreement exchange ratio of 3.1898 set forth in the Agreement and Plan of Merger, dated as of July 1, 2015, related to the Merger, or the Merger Agreement. The Company is in the process of completing the allocation of the purchase price for the Merger, which the Company expects to finalize later this year. The following table summarizes the preliminary purchase price allocation, which represents the current best estimate of acquisition date fair values of the assets acquired and liabilities assumed: Assets Investments: Land $ 261,514 Buildings and improvements 1,651,462 Net investments 1,912,976 Cash and cash equivalents 24,687 Restricted cash 8,990 Unconsolidated equity investments 556,232 Tenant and other receivables, net 10,885 Acquired lease assets 387,988 Deferred costs and other assets 5,002 Assets held for sale $ 418,115 Total assets $ 3,324,875 Liabilities Mortgage notes payable $ 218,945 Revolving credit facilities and term loans 860,000 Below-market lease liabilities 40,593 Accounts payable, accrued expenses, and other liabilities 87,106 Liabilities related to assets held for sale 288,990 Total liabilities $ 1,495,634 Estimated fair value of net assets acquired $ 1,829,241 The final allocation of the purchase price will be based on the Company’s assessment of the fair value of the acquired assets and liabilities and may differ significantly from the estimated preliminary allocation. During the three months ended March 31, 2016, the Company recorded adjustments to the preliminary purchase price allocation for Chambers as a result of further evaluation of the fair value of the assets acquired and liabilities assumed. The adjustments recorded resulted in a decrease to the allocation to assets acquired by $328 and a decrease to the allocation to liabilities assumed by $328 . The preliminary purchase price allocation adjustments also resulted in an increase in net income of $7 to record adjustments to depreciation and amortization expense related to the adjustments on the Condensed Consolidated Statements of Operations for the three months ended March 31, 2016. Acquisition of Gramercy Europe Asset Management On December 19, 2014, the Company acquired ThreadGreen Europe Limited, a United Kingdom based property and asset management platform, which the Company subsequently renamed Gramercy Europe Limited, or Gramercy Europe Asset Management, for $3,755 and the issuance of 96,535 shares of the Company’s common stock, valued at $652 as of the date of closing. The Company accounted for the acquisition utilizing the acquisition method of accounting for business combinations. The Company initially recognized assets of $902 , liabilities of $398 , and goodwill of $3,887 , as well as a $16 realized foreign currency transaction loss related to the acquisition and during the second quarter of 2015, the Company finalized the purchase price allocation, which resulted in an increase to the allocation to assets by $190 , an increase to the allocation to liabilities by $105 , a decrease to goodwill by $85 , and a decrease to net income of $80 to record adjustments to amortization and incentive fees. The final allocation of the purchase price included assets of $1,092 , liabilities of $503 , and goodwill of $3,802 . Goodwill represents the fair value of the collaboration expected to be achieved upon consummation of a business combination and is measured as the excess of consideration transferred over the net assets acquired at acquisition date. For more information on Gramercy Europe Asset Management, refer to Note 5 .

Unconsolidated Equity Investmen

Unconsolidated Equity Investments	3 Months Ended
	Mar. 31, 2016
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Unconsolidated Equity Investments	Unconsolidated Equity Investments The Company has investments in a variety of ventures. The Company will co-invest in entities that own multiple properties with various investors or with one partner. The Company may manage the ventures and collect asset and property management fees as well as incentive fees, otherwise known as profit participation, from its investment partners, or one of the other partners will manage the ventures for asset and property management fees as well as incentive fees. Depending on the structure of the venture, the Company’s voting interest may be different than its economic interest. As the Company does not control these ventures, the Company accounts for these investments under the equity method of accounting. As a result of the Merger, the Company acquired an interest in four unconsolidated entities, the Duke Joint Venture, Goodman Europe Joint Venture, Goodman UK Joint Venture, and the CBRE Strategic Partners Asia, a real estate investment fund. The Company’s equity investment in the entities was fair valued on the Merger closing date, and the difference between the historical carrying value of the net assets and the fair value has been recorded as a basis difference. The basis difference will be amortized to equity in net income from joint ventures and equity investments over the remaining weighted-average useful life of the underlying assets of each entity. As of March 31, 2016 and December 31, 2015 , the Company owned properties through unconsolidated equity investments and had investment interests in these unconsolidated entities as follows: As of March 31, 2016 As of December 31, 2015 Investment Ownership % Voting Interest % Partner Investment in Unconsolidated Equity Investment (1) Number of Properties Investment in Unconsolidated Equity Investment (1) Number of Properties Gramercy European Property Fund (2) 19.8 % 19.8 % Various $ 26,228 15 $ 23,381 12 Philips Joint Venture 25.0 % 25.0 % Various — 1 — 1 Duke Joint Venture 80.0 % 50.0 % Duke Realty 291,324 9 352,932 13 Goodman Europe Joint Venture 80.0 % 50.0 % Goodman Group 163,884 9 158,863 9 Goodman UK Joint Venture 80.0 % 50.0 % Goodman Group 38,096 3 36,698 3 CBRE Strategic Partners Asia 5.07 % 5.07 % Various 5,126 2 5,508 2 Morristown Joint Venture 50.0 % 50.0 % 21 South Street 2,611 1 2,618 1 Total $ 527,269 40 $ 580,000 41 (1) The amounts presented include basis differences of $101,236 , $38,651 and $6,140 , net of accumulated amortization, for the Duke Joint Venture, Goodman Europe Joint Venture, and Goodman UK Joint Venture, respectively, as of March 31, 2016. The amounts presented include basis differences of $136,198 , $37,371 , and $6,578 , net of accumulated amortization, for the Duke Joint Venture, Goodman Europe Joint Venture, and Goodman UK Joint Venture, respectively, as of December 31, 2015. (2) Includes European Fund Carry Co., which has a carrying value of $(7) and $0 for the Company’s 25% interest as of March 31, 2016 and December 31, 2015, respectively. The following is a summary of the Company’s unconsolidated equity investments for the three months ended March 31, 2016 : Unconsolidated Equity Investments Balance as of December 31, 2015 $ 580,000 Contributions to unconsolidated equity investments 2,471 Equity in net loss of unconsolidated equity investments, including adjustments for basis differences (2,755 ) Other comprehensive income of unconsolidated equity investments 7,576 Distributions from unconsolidated equity investments (57,368 ) Purchase price allocation adjustments (2,655 ) Balance as of March 31, 2016 $ 527,269 Gramercy European Property Fund In December 2014, the Company, along with several equity investment partners, formed Gramercy European Property Fund, a private real estate investment fund, which targets single-tenant industrial, office and specialty retail assets throughout Europe. The equity investors, including the Company, have collectively committed approximately $401,145 ( €352,500 ) in equity capital comprised of an initial commitment of approximately $287,345 ( €252,500 ), including $56,900 ( €50,000 ) from the Company and $230,445 ( €202,500 ) from its equity investment partners, plus an additional $113,800 ( €100,000 ) from certain equity investment partners, not including the Company, after the first $287,345 ( €252,500 ) has been invested. As of March 31, 2016 and December 31, 2015 , the Company contributed $28,134 ( €25,358 ) and $25,663 ( €23,160 ) to the Gramercy European Property Fund, respectively. During the three months ended March 31, 2016 and the year ended December 31, 2015 , the Gramercy European Property Fund acquired three and 12 properties, respectively, located in Germany, the Netherlands, Poland, and the United Kingdom. Philips Building The Philips Joint Venture is a fee interest in 200 Franklin Square Drive, a 199,900 square foot building located in Somerset, New Jersey which is 100% net leased to Philips Holdings, USA Inc., a wholly-owned subsidiary of Royal Philips Electronics through December 2021, or the Philips Joint Venture. The property is financed by a $40,127 fixed rate mortgage note with maturity in September 2035. The loan had an anticipated repayment date in September 2015 and, as such, distributions from the property began paying down the loan in September 2015. During the three months ended March 31, 2016 and 2015 the Company received distributions of $0 and $103 from the joint venture, respectively. Duke The Duke Joint Venture invests in industrial and office properties located throughout the United States. The Company’s investment partner, Duke Realty, acts as the managing member of the Duke Joint Venture, is entitled to receive fees in connection with the services it provides to the Duke Joint Venture, including asset management, construction, development, leasing and property management services, and is entitled to a promoted interest in the Duke Joint Venture. The Company has joint approval rights with Duke over all major policy decisions. Pursuant to the Duke Amended and Restated Operating Agreement, the Company has the right to a call option to acquire Duke’s entire interest in the Duke Joint Venture, with the value of such interest based on the opinions of qualified appraisers and which the Company can exercise upon the occurrence and adoption by resolution of certain triggering events. Additionally, the Duke Joint Venture has certain rights to participate in the development of certain adjacent and nearby parcels of land currently owned by Duke. The Company received distributions of $53,807 from the Duke Joint Venture during the three months ended March 31, 2016 . Goodman Joint Ventures The Goodman UK Joint Ventures invests in industrial properties in the United Kingdom and the Goodman Europe Joint Venture invests in industrial properties in France and Germany. The Goodman UK and Goodman Europe Joint Ventures pay certain fees to certain Goodman Group subsidiaries in connection with the services they provide to the Goodman UK and Goodman Europe Joint Ventures, including but not limited to investment advisory, development management and property management services. Goodman is entitled to a promoted interest in the Goodman UK and Goodman Europe Joint Ventures. If a deadlock has arisen pertaining to a major decision regarding a specific property, either shareholder may exercise a buy-sell option in relation to the relevant property for the Goodman UK and Goodman Europe Joint Ventures. After the initial investment period, either shareholder wishing to exit the Goodman Europe and Goodman UK Joint Venture may exercise a buy-sell option with respect to its entire interest. During the three months ended March 31, 2016 , the Company received distributions of $0 and $3,561 from the Goodman UK Joint Venture and the Goodman Europe Joint Venture, respectively. CBRE Strategic Partners Asia CBRE Strategic Partners Asia is a real estate investment fund with investments in China. CBRE Strategic Partners Asia had an eight -year original term, which began on January 31, 2008 and may be extended for up to two one -year periods with the approval of two-thirds of the limited partners. CBRE Strategic Partners Asia’s commitment period has ended; however, it may call capital to fund operations, obligations and liabilities. For the three months ended March 31, 2016 , no capital has been committed or distributed. In March 2016, the limited partners approved a one -year extension of the fund’s life. CBRE Strategic Partners Asia is managed by CBRE Investors SP Asia II, LLC, an affiliate of CBRE Global Investors. CBRE Strategic Partners Asia is not obligated to redeem the interests of any of its investors, including of the Company, prior to 2017. Except in certain limited circumstances such as transfers to affiliates or successor trustees or state agencies, the Company will not be permitted to sell its interest in CBRE Strategic Partners Asia without the prior written consent of the general partner, which the general partner may withhold in its sole discretion. Morristown On October 8, 2015, the Company contributed 50% of its interest in an office property located in Morristown, New Jersey to a joint venture the Company formed with 21 South Street, a subsidiary of Hampshire Partners Fund VIII LP. The Company sold the remaining 50% equity interest of the property to 21 South Street for gross proceeds of $2,600 . In connection with the sale, the Company, entered into a joint venture agreement for the property with 21 South Street, or the Morristown Joint Venture. In October 2015, the Morristown Joint Venture entered into a leasing and construction management agreement with Prism Construction Management, LLC to manage the construction of specific improvements at the property. The Condensed Consolidated Balance Sheets for the Company’s unconsolidated equity investments at March 31, 2016 are as follows: As of March 31, 2016 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund CBRE Strategic Partners Asia Other (1) Total Assets: Real estate assets, net (2) $ 342,437 $ 41,011 $ 287,922 $ 282,178 $ 109,554 $ 50,423 $ 1,113,525 Other assets 25,138 6,122 40,106 58,861 9,337 3,390 142,954 Total assets $ 367,575 $ 47,133 $ 328,028 $ 341,039 $ 118,891 $ 53,813 $ 1,256,479 Liabilities and members’ equity: Mortgages payable $ 12,992 $ — $ 127,137 $ 170,431 $ — $ 40,127 $ 350,687 Other liabilities 6,329 1,049 5,676 38,074 13,948 3,839 68,915 Total liabilities 19,321 1,049 132,813 208,505 13,948 43,966 419,602 Gramercy Property Trust equity 291,324 38,096 163,884 26,235 5,126 2,604 527,269 Other members’ equity 56,930 7,988 31,331 106,299 99,817 7,243 309,608 Liabilities and members’ equity $ 367,575 $ 47,133 $ 328,028 $ 341,039 $ 118,891 $ 53,813 $ 1,256,479 (1) Includes Philips Joint Venture, Morristown Joint Venture, and European Fund Carry Co. (2) Includes REIT basis adjustments that were recorded by the Company to adjust the unconsolidated equity investments to fair value upon closing of the Merger. The Condensed Consolidated Balance Sheets for the Company’s unconsolidated equity investments at December 31, 2015 are as follows: As of December 31, 2015 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund CBRE Strategic Partners Asia Other (1) Total Assets: Real estate assets, net (2) $ 443,313 $ 42,584 $ 276,925 $ 236,312 $ 109,554 $ 50,698 $ 1,159,386 Other assets 32,739 3,427 42,139 39,983 9,337 15,954 143,579 Total assets $ 476,052 $ 46,011 $ 319,064 $ 276,295 $ 118,891 $ 66,652 $ 1,302,965 Liabilities and members’ equity: Mortgages payable $ 56,105 $ — $ 121,350 $ 143,616 $ — $ 40,424 $ 361,495 Other liabilities 6,035 1,783 8,622 14,581 13,948 16,540 61,509 Total liabilities 62,140 1,783 129,972 158,197 13,948 56,964 423,004 Gramercy Property Trust equity 352,932 36,698 158,863 23,385 5,508 2,614 580,000 Other members’ equity 60,980 7,530 30,229 94,713 99,435 7,074 299,961 Liabilities and members’ equity $ 476,052 $ 46,011 $ 319,064 $ 276,295 $ 118,891 $ 66,652 $ 1,302,965 (1) Includes Philips Joint Venture, Morristown Joint Venture, and European Fund Carry Co. (2) Includes REIT basis adjustments that were recorded by the Company to adjust the unconsolidated equity investments to fair value upon closing of the Merger. Certain real estate assets in the Company’s unconsolidated equity investments are subject to mortgage loans. The following is a summary of the secured financing arrangements within the Company’s unconsolidated equity investments as of March 31, 2016 : Outstanding Balance (2) Property Unconsolidated Equity Investment Ownership % Interest Rate (1) Maturity Date March 31, 2016 December 31, 2015 Graben (3) Goodman Europe Joint Venture 80.0% 2.39% 7/27/2017 $ 35,392 $ 33,781 Koblenz Goodman Europe Joint Venture 80.0% 2.27% 12/12/2017 36,132 34,486 Durrholz Gramercy European Property Fund 19.8% 1.20% 3/31/2020 13,451 12,937 Venray Gramercy European Property Fund 19.8% 3.00% 12/2/2020 14,189 13,578 Bodenheim Goodman Europe Joint Venture 80.0% 3.01% 11/25/2020 12,882 12,296 Bremen Goodman Europe Joint Venture 80.0% 3.01% 11/25/2020 13,428 12,817 Lille Goodman Europe Joint Venture 80.0% 3.13% 12/17/2020 29,304 27,970 Carlisle Gramercy European Property Fund 19.8% 2.84% 2/19/2021 12,152 — Lake Forest Duke Joint Venture 80.0% 5.00% 8/1/2021 8,781 8,823 Tampa Duke Joint Venture 80.0% 5.00% 9/1/2021 4,211 4,231 Rotterdam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,338 — Uden Gramercy European Property Fund 19.8% 1.10% 12/30/2022 9,745 9,331 Strykow Gramercy European Property Fund 19.8% 1.10% 12/30/2022 20,954 20,063 Piaseczno Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,900 8,522 Juchen Gramercy European Property Fund 19.8% 1.10% 12/30/2022 20,627 19,750 Breda Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,142 7,796 Berlin Gramercy European Property Fund 19.8% 1.10% 12/30/2022 12,307 11,783 Potsdam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 9,514 9,109 Kerkade Gramercy European Property Fund 19.8% 1.10% 12/30/2022 10,529 10,081 Zaandam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 12,744 12,203 Oud-Beijerland Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,838 8,463 Philips Philips Joint Venture 25.0% 6.90% 9/11/2035 40,127 40,424 Weston Pointe (4) Duke Joint Venture 80.0% N/A N/A — 43,051 Total $ 350,687 $ 361,495 (1) Represents the current interest rate as of March 31, 2016 . (2) Mortgage loans amounts are presented at 100% of the amount in the unconsolidated equity investment. (3) Represents two properties under this mortgage loan. (4) Represents four properties under this mortgage loan, which were sold during the three months ended March 31, 2016. The Condensed Consolidated Statements of Operations for the unconsolidated equity investments for the three months ended March 31, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund Other (1) Total Total (2) Revenues $ 10,536 $ 4,284 $ 6,121 $ 5,057 $ 301 $ 26,299 $ 959 Operating expenses 2,991 287 862 502 712 5,354 541 Acquisition expenses — — — 666 — 666 — Interest expense 436 — 923 927 729 3,015 522 Depreciation and amortization 3,729 750 2,290 2,345 333 9,447 313 Total expenses 7,156 1,037 4,075 4,440 1,774 18,482 1,376 Net income (loss) from operations 3,380 3,247 2,046 617 (1,473 ) 7,817 (417 ) Loss on derivatives — — — (3,814 ) — (3,814 ) — Loss on extinguishment of debt (7,962 ) — — — — (7,962 ) Net gain on disposals 38,535 — — — — 38,535 — Provision for taxes — — — (315 ) — (315 ) — Net income (loss) $ 33,953 $ 3,247 $ 2,046 $ (3,512 ) $ (1,473 ) $ 34,261 $ (417 ) Company’s share in net income (loss) $ 27,162 $ 2,597 $ 1,637 $ (695 ) $ (79 ) $ 30,622 (1 ) Adjustments for REIT basis (32,621 ) (270 ) (486 ) — — (33,377 ) — Company’s equity in net income (loss) within continuing operations $ (5,459 ) $ 2,327 $ 1,151 $ (695 ) $ (79 ) $ (2,755 ) $ (1 ) (1) Includes Philips Joint Venture, Morristown Joint Venture, European Fund Carry Co., and CBRE Strategic Partners Asia. (2) Represents the Gramercy European Property Fund and the Philips Joint Venture.

Debt Obligations

Debt Obligations	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations Secured Debt Mortgage Loans Certain real estate assets are subject to mortgage loans. During the three months ended March 31, 2016, the Company did not assume any mortgages in connection with real estate acquisitions, however the Company entered into one non-recourse mortgage for $9,550 related to a prior period real estate acquisition. During the year ended December 31, 2015, the Company assumed $618,169 of non-recourse mortgages in connection with 46 real estate acquisitions, including $464,292 of non-recourse mortgages relating to 29 properties acquired in connection with the Merger. During the three months ended March 31, 2016, the Company paid off the debt on six properties encumbered by mortgage loans and transferred one property encumbered by a mortgage loan, and as a result, the Company recorded a net loss on the early extinguishment of debt of $(3,827) , including a gain on extinguishment of debt of $ 1,930 within discontinued operations, related to unamortized deferred financing costs and mortgage premiums (discounts) that were immediately expensed upon termination as well as early termination fees incurred for the extinguishments. The Company did not pay off any mortgage loans during the three months ended March 31, 2015. The Company’s mortgage loans include a series of financial and other covenants that the Company has to comply with in order to borrow under them. The Company was in compliance with the covenants under the facilities as of March 31, 2016 . The following is a summary of the Company’s secured financing arrangements as of March 31, 2016 : Property Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 Wilson 5.33% 10/1/2016 $ 8,545 $ 8,603 Arrowood 5.57% 11/11/2016 13,025 13,025 Point West I - Swapped to Fixed 3.41% 12/6/2016 10,310 10,391 Buford 7.46% 7/1/2017 15,840 15,947 100 Tice Blvd 5.97% 9/15/2017 18,179 18,340 100 Tice Blvd 5.97% 9/15/2017 18,180 18,341 4701 Gold Spike Drive (3) 4.45% 3/1/2018 9,701 9,754 1985 International Way (3) 4.45% 3/1/2018 6,741 6,777 3660 Deerpark Boulevard (3) 4.45% 3/1/2018 6,968 7,006 Tolleson Commerce Park II (3) 4.45% 3/1/2018 4,190 4,213 20000 S. Diamond Lake Road (3) 4.45% 3/1/2018 6,103 6,136 Ames (7) 5.53% 5/1/2018 16,785 16,900 Atrium I - Swapped to Fixed 3.78% 5/31/2018 20,410 20,644 Greenwood 3.28% 6/15/2018 7,567 7,610 Mt. Comfort 3.28% 6/15/2018 6,116 6,150 Blue Grass 4.28% 1/1/2019 12,605 12,696 Easton III - Swapped to Fixed 3.95% 1/31/2019 6,048 6,094 Fairforest Bldg. 6 5.42% 6/1/2019 1,307 1,398 North Rhett I 5.65% 8/1/2019 1,363 1,486 Lawrence 4.00% 1/1/2020 21,219 21,371 Kings Mountain II 5.47% 1/1/2020 2,702 2,859 Irving 5.46% 7/1/2020 21,730 21,800 Parsippany 5.46% 7/1/2020 14,879 14,926 Plantation (6) 5.46% 7/1/2020 17,635 17,692 Commerce 5.46% 7/1/2020 8,108 8,134 Redondo Beach 5.46% 7/1/2020 9,324 9,354 El Segundo 5.46% 7/1/2020 15,406 15,455 Richfield 5.46% 7/1/2020 7,906 7,931 Richardson 5.46% 7/1/2020 3,243 3,254 Houston (5) 5.46% 7/1/2020 17,352 17,407 Aurora 5.46% 7/1/2020 2,068 2,074 Dixon 5.46% 7/1/2020 8,108 8,134 1 Rocket Road 6.60% 8/1/2020 18,000 18,108 North Rhett II 5.20% 10/1/2020 1,155 1,210 Mount Holly Bldg. 5.20% 10/1/2020 1,155 1,210 Orangeburg Park Bldg. 5.20% 10/1/2020 1,174 1,230 Kings Mountain I 5.27% 10/1/2020 1,001 1,049 Des Plaines 5.25% 10/31/2020 2,519 2,537 Waco - Swapped to Fixed 4.55% 12/19/2020 15,410 15,485 Ten Parkway North 4.75% 1/1/2021 11,060 11,145 Union Cross Bldg. II 5.53% 6/1/2021 4,803 4,998 Union Cross Bldg. I 5.50% 7/1/2021 1,583 1,647 Yuma 5.15% 12/6/2023 12,200 12,247 Allentown 5.07% 1/6/2024 23,352 23,443 Fairforest Bldg. 5 6.33% 2/1/2024 6,874 7,040 Property Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 North Rhett IV 5.80% 2/1/2025 7,126 7,277 Hackettstown 5.15% 3/6/2026 9,550 — Hutchins 6.95% 6/1/2029 23,597 23,870 70 Hudson Street (2), (4) N/A N/A — 112,000 90 Hudson Street (4) N/A N/A — 101,726 The Landings I (4) N/A N/A — 14,896 The Landings II (4) N/A N/A — 13,139 McAuley Place (4) N/A N/A — 12,485 Norman Pointe I N/A N/A — 19,824 Norman Pointe II N/A N/A — 21,825 Total mortgage notes payable 480,222 770,293 Plus net deferred financing costs and net debt premium (8) 11,138 20,633 Total mortgage notes payable, net 491,360 790,926 Total mortgage notes payable, net on assets held for sale — (260,704 ) Total mortgage notes payable, net $ 491,360 $ 530,222 (1) Represents the current interest rate as of March 31, 2016 , including the swapped interest rate for loans that have interest rate swaps. The current interest rate is not adjusted to include the amortization of fair market value premiums or discounts. (2) In accordance with the provisions of this loan, the property’s excess cash proceeds after the payment of debt service, impounds and budgeted operating expenses were held by the lender. In January 2016, the loan was paid in full. (3) These five mortgage loans are cross-collateralized. (4) These mortgage loans were related to properties that were classified as held for sale as of December 31, 2015, and accordingly the mortgage loans were included within liabilities related to assets held for sale on the Consolidated Balance Sheet as of December 31, 2015. These properties were sold during the three months ended March 31, 2016. (5) Represents four properties under this mortgage loan. (6) Represents two properties under this mortgage loan. (7) As of March 31, 2016, due to non-renewal of the tenant’s lease, the lender has imposed a “cash trap” on this property. As a result, cash flows from the property will automatically be directed to the lender to satisfy required debt service payments, fund reserves required by the mortgage, and fund additional cash reserves for future required payments, including final payment, until the property’s leasing condition is cured. (8) During the first quarter of 2016, the Company adopted accounting guidance related to the presentation of deferred financing costs on the balance sheet and reclassified amounts from the deferred costs line to net against the liability for all periods presented, including for mortgage notes payable, as shown here. See Note 2, “Summary of Significant Accounting Policies,” for further information. Unsecured Debt 2015 Credit Facility and Term Loans In December 2015, the Company entered into an agreement, or the Credit Agreement, for a new $1,900,000 credit facility, or the 2015 Credit Facility, consisting of an $850,000 senior unsecured revolving credit facility, or the 2015 Revolving Credit Facility, and $1,050,000 term loan facility with JPMorgan Securities LLC and Merrill Lynch, Pierce, Fenner and Smith Incorporated and terminated Legacy Gramercy’s 2014 Credit Facility. The 2015 Revolving Credit Facility, consists of a $750,000 U.S. dollar revolving credit facility and a $100,000 multicurrency revolving credit facility. The 2015 Revolving Credit Facility matures in January 2020 , but may be extended for two additional six -month periods upon the payment of applicable fees and satisfaction of certain customary conditions. Borrowings under the multicurrency loan denominated in euros are designated as a non-derivative net investment hedge to mitigate the risk from fluctuations in foreign currency exchange rates. Refer to Note 10 , “Derivative and Non-Derivative Hedging Instruments,” for further information on the hedge. The term loan facility, or the 2015 Term Loan, consists of a $300,000 term loan facility that matures in January 2019 with one 12 -month extension option, or the 3 -Year Term Loan, and a $750,000 term loan facility that matures in January 2021 , or the 5 -Year Term Loan. Outstanding borrowings under the 2015 Revolving Credit Facility incur interest at a floating rate based upon, at the Company’s option, either (i) adjusted LIBOR plus an applicable margin ranging from 0.875% to 1.55% , depending on the Company’s credit ratings, or (ii) the alternate base rate plus an applicable margin ranging from 0.00% to 0.55% , depending on the Company’s credit ratings. The Company is also required to pay quarterly in arrears a 0.125% to 0.30% facility fee, depending on the Company’s credit ratings, on the total commitments under the 2015 Revolving Credit Facility. Outstanding borrowings under the 2015 Term Loan incur interest at a floating rate based upon, at the Company’s option, either (i) adjusted LIBOR plus an applicable margin ranging from 0.90% to 1.75% , depending on the Company’s credit ratings, or (ii) the alternate base rate plus an applicable margin ranging from 0.00% to 0.75% , depending on the Company’s credit ratings. The alternate base rate is the greater of (x) the prime rate announced by JPMorgan Chase Bank, N.A., (y) 0.50% above the Federal Funds Effective Rate and (z) the adjusted LIBOR for a one-month interest period plus 1.00% . In December 2015, the Company also entered into a new $175,000 seven -year unsecured term loan with Capital One, N.A., or the 7-Year Term Loan, which matures in January 2023 . Outstanding borrowings under the 7-Year Term Loan incur interest at a floating rate based upon, at the Company’s option, either (i) adjusted LIBOR plus an applicable margin ranging from 1.30% to 2.10% , depending on the Company’s credit ratings, or (iii) the alternate base rate plus an applicable margin ranging from 0.30% to 1.10% , depending on the Company’s credit ratings. The alternate base rate is the greatest of (x) the prime rate announced by Capital One, (y) 0.50% above the Federal Funds Effective Rate and (z) the adjusted LIBOR for a one-month interest period plus 1.00% . These unsecured borrowing facilities include a series of financial and other covenants that the Company has to comply with in order to borrow under the facilities. The Company was in compliance with the covenants under the facilities as of March 31, 2016 . During the first quarter of 2016, the Company adopted accounting guidance related to the presentation of deferred financing costs on the balance sheet and reclassified amounts from the deferred costs line to net against the liability for all periods presented. Deferred financing costs associated with the Company’s credit facility remain in deferred costs on the Condensed Consolidated Balance Sheets. See Note 2, “Summary of Significant Accounting Policies,” for further information. The terms of the Company’s unsecured revolving credit facility and term loans, as well as outstanding balances as of March 31, 2016 and December 31, 2015 , are set forth in the table below: Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 2015 Revolving Credit Facility - USD tranche 1.70 % 1.70 % 1/8/2020 $ 100,000 $ 275,000 2015 Revolving Credit Facility - Multicurrency tranche 1.20 % 1.20 % 1/8/2020 22,760 21,724 3-Year Term Loan 1.85 % 1.85 % 1/8/2019 300,000 300,000 5-Year Term Loan 1.85 % 2.95 % 1/8/2021 750,000 750,000 7-Year Term Loan 2.19 % 3.57 % 1/9/2023 175,000 175,000 Total Unsecured Revolving Credit and Term Loan Facilities $ 1,347,760 $ 1,521,724 (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the effect of the interest rate swaps, excluding debt issuance costs. Senior Unsecured Notes On December 17, 2015, the Company issued and sold $100,000 aggregate principal amount of senior unsecured notes, or the Senior Unsecured Notes, and on January 12, 2016, the Company issued and sold an additional $50,000 aggregate principal amount of the Senior Unsecured Notes in private placements. The Senior Unsecured Notes are guaranteed by the Company and bear interest at a rate of 4.97% per annum, with interest payable in arrears on June 17 and December 17 of each year until maturity, commencing June 17, 2016. Exchangeable Senior Notes On March 18, 2014, the Company issued $115,000 of 3.75% exchangeable senior notes, or the Exchangeable Senior Notes. The Exchangeable Senior Notes are senior unsecured obligations of the Company’s operating partnerships and are guaranteed by the Company on a senior unsecured basis. The Exchangeable Senior Notes mature on March 15, 2019 , unless redeemed, repurchased or exchanged in accordance with their terms prior to such date and will be exchangeable, under certain circumstances, for cash, for common shares or for a combination of cash and common shares, at the election of the Company’s operating partnerships. The Exchangeable Senior Notes will also be exchangeable prior to the close of business on the second scheduled trading day immediately preceding the stated maturity date, at any time beginning on December 15, 2018, and also upon the occurrence of certain events. On or after March 20, 2017, in certain circumstances, the Company’s operating partnership may redeem all or part of the Exchangeable Senior Notes for cash at a price equal to 100% of the principal amount of the Exchangeable Senior Notes to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. The Exchangeable Senior Notes had an initial exchange rate of 40.2966 units of merger consideration, or Units of Merger Consideration, per $1.0 principal amount of principal amount of the Exchangeable Senior Notes, where one Unit of Merger Consideration represents 3.1898 of the Company’s common shares, or approximately 128.5380 of the Company’s common s hares per $1.0 principal amount of the Exchangeable Senior Notes. The initial exchange rate represents an exchange price of approximately $24.82 per Unit of Merger Consideration or $7.78 per share of the Company’s common shares. The initial exchange rate is subject to adjustment under certain circumstances. As of March 31, 2016 , the Exchangeable Senior Notes have a current exchange rate of 40.9434 Units of Merger Consideration, or approximately 130.6013 of the Company’s common shares for each $1.0 principal amount of the Exchangeable Senior Notes , representing an exchange price of $7.66 per share of the Company’s common shares . The fair value of the Exchangeable Senior Notes was determined at issuance to be $106,689 . The discount is being amortized to interest expense over the expected life of the Exchangeable Senior Notes. As of March 31, 2016 and December 31, 2015, the Exchangeable Senior Notes were recorded as a liability at carrying value of $107,205 and $106,581 , respectively, net of unamortized discount and deferred financing costs of $7,795 and $8,419 , respectively. The fair value of the embedded exchange option of the Exchangeable Senior Notes was recorded in additional paid-in-capital within shareholders’ equity of $11,726 as of March 31, 2016 and December 31, 2015. Combined aggregate principal maturities of the Company’s unsecured debt obligations, non-recourse mortgages, and Exchangeable Senior Notes, in addition to associated interest payments, as of March 31, 2016 are as follows: 2015 Revolving Credit Facility Term Loans Mortgage Notes Payable Senior Unsecured Notes Exchangeable Senior Notes Interest Payments Total April 1 to December 31, 2016 $ — $ — $ 43,429 $ — $ — $ 47,739 $ 91,168 2017 — — 65,215 — — 62,306 127,521 2018 — — 92,589 — — 60,263 152,852 2019 — 300,000 28,836 — 115,000 51,631 495,467 2020 122,760 — 174,103 — — 44,519 341,382 Thereafter — 925,000 76,050 150,000 — 58,373 1,209,423 Above market interest — — — — — 2,278 2,278 Total $ 122,760 $ 1,225,000 $ 480,222 $ 150,000 $ 115,000 $ 327,109 $ 2,420,091

Leasing Agreements

Leasing Agreements	3 Months Ended
	Mar. 31, 2016
Leases, Operating [Abstract]
Leasing Agreements	Leasing Agreements The Company’s properties are leased to tenants under operating leases with expiration dates extending through the year 2039 . These leases generally contain rent increases and renewal options. Future minimum rental revenues under non-cancelable leases excluding reimbursements for operating expenses as of March 31, 2016 are as follows: Operating Leases April 1 to December 31, 2016 $ 253,796 2017 331,621 2018 315,992 2019 293,720 2020 260,728 Thereafter 1,421,528 Total minimum lease rental income $ 2,877,385

Transactions with Trustee Relat

Transactions with Trustee Related Entities and Related Parties	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Transactions with Trustee Related Entities and Related Parties	Transactions with Trustee Related Entities and Related Parties The Company’s CEO, Gordon F. DuGan, is on the board of directors of the Gramercy European Property Fund and has committed approximately $1,423 ( €1,250 ) in capital to the Gramercy European Property Fund. The two Managing Directors of Gramercy Europe Asset Management have collectively committed approximately $1,423 ( €1,250 ) in capital to the Gramercy European Property Fund. Foreign currency commitments have been converted into U.S. dollars based on (i) the foreign exchange rate at the closing date for completed transactions and (ii) the exchange rate that prevailed on March 31, 2016, in the case of unfunded commitments. One of the properties acquired in December 2015 as part of the Merger is partially leased to Duke Realty, the Co mpany’s partner in the Duke Joint Venture. Duke Realty acts as the managing member of the Duke Joint Venture and provides asset management, construction, development, leasing and property management services, for which it is entitled to receive fees as well as a promoted interest. Duke Realty leases 30,777 square feet of one of the Company’s office properties located in Minnesota which has an aggregate 324,296 rentable square feet. The lease expires in May 2016 and Duke Realty paid the Company $176 under the lease for the three months ended March 31, 2016. The Company acquired three properties in January 2015 in an arms-length transaction from affiliates of KTR Capital Partners, a private industrial real estate investment company, for which one of the Company’s trustees, Jeffrey Kelter, served as Chief Executive Officer and Chairman of the Board. The properties are located in Milwaukee, Wisconsin, comprise an aggregate 450,000 square feet and were acquired for an aggregate purchase price of approximately $19,750 .

Fair Value Measurements

Fair Value Measurements	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The Company discloses fair value information, whether or not recognized in the financial statements, for which it is practicable to estimate that value. In cases where quoted market prices are not available, fair values are based upon the application of discount rates to estimated future cash flows based upon market yields or by using other valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the financial instruments and other assets and liabilities measured at fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on estimated fair value amounts. The following table presents the carrying value in the financial statements and approximate fair value of assets and liabilities measured on a recurring and non-recurring basis at March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Retained CDO Bonds (1) $ 8,786 $ 8,786 $ 7,471 $ 7,471 Investment in CBRE Strategic Partners Asia $ 5,126 $ 5,126 $ 5,508 $ 5,508 Real estate investments classified as held for sale at Merger closing (4) $ 10,522 $ 10,522 $ 393,984 $ 393,984 Financial liabilities: Derivative instruments $ 27,461 $ 27,461 $ 3,442 $ 3,442 Long-term debt Revolving credit facilities (2) $ 122,760 $ 123,294 $ 296,724 $ 297,394 3-Year Term Loan (2) $ 300,000 $ 300,304 $ 300,000 $ 300,349 5-Year Term Loan (2) $ 750,000 $ 751,223 $ 750,000 $ 751,304 7-Year Term Loan (2) $ 175,000 $ 175,024 $ 175,000 $ 175,338 Mortgage notes payable (2), (3) $ 480,222 $ 506,215 $ 770,293 $ 805,590 Senior Unsecured Notes (2) $ 150,000 $ 156,254 $ 100,000 $ 100,528 Exchangeable Senior Notes (2) $ 107,205 $ 117,069 $ 109,394 $ 115,524 (1) Retained CDO Bonds represent the CDOs’ subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation. (2) Long-term debt instruments are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions. (3) Amounts include mortgage notes payable on assets held for sale as of December 31, 2015, which had total carrying value of $260,704 and total fair value of $263,308 as of December 31, 2015. There were no mortgage notes payable on assets held for sale as of March 31, 2016. (4) Amounts include one and six real estate investments as of March 31, 2016 and December 31, 2015, respectively, classified as held for sale at Merger closing, which are included in discontinued operations. The following methods and assumptions were used to estimate the fair value of each class of assets and liabilities for which it is practicable to estimate the value: Cash and cash equivalents, accrued interest, and accounts payable: These balances in the Condensed Consolidated Financial Statements reasonably approximate their fair values due to the short maturities of these items. Retained CDO Bonds: Non-investment grade, subordinate CDO bonds, preferred shares and ordinary shares are presented on the Condensed Consolidated Financial Statements at fair value. The fair value is determined by an internally developed discounted cash flow model. Refer to Note 2 for more information on these instruments. Derivative instruments: The Company’s derivative instruments, which are primarily comprised of interest rate swap agreements, are carried at fair value in the Condensed Consolidated Financial Statements based upon third-party valuations. Refer to Note 10 for more information on the derivative instruments. Mortgage notes payable, unsecured term loans, unsecured revolving credit facilities and senior unsecured notes : These instruments are presented in the Condensed Consolidated Financial Statements at amortized cost and not at fair value. The fair value of each instrument is estimated by a discounted cash flows model, using discount rates that best reflect current market rates for financings with similar characteristics and credit quality. Mortgage premiums and discounts are amortized to interest expense on the Condensed Consolidated Statements of Operations using the effective interest method over the terms of the related notes. Refer to Note 6 for more information on these instruments. Exchangeable Senior Notes: The Exchangeable Senior Notes are presented at amortized cost on the Condensed Consolidated Financial Statements. The fair value is determined based upon a discounted cash-flow methodology using discount rates that best reflect current market rates for instruments with similar with characteristics and credit quality. Refer to Note 6 for more information on these instruments. CBRE Strategic Partners Asia: The Company’s unconsolidated equity investment, CBRE Strategic Partners Asia, is presented in the Condensed Consolidated Financial Statements at fair value. The investment manager of CBRE Strategic Partners Asia applies valuation techniques for the Company’s investment carried at fair value based upon the application of the income approach, the direct market comparison approach, the replacement cost approach or third-party appraisals to the underlying assets held in the unconsolidated entity in determining the net asset value attributable to the Company’s ownership interest therein. Refer to Note 2 and Note 5 for more information on these instruments. Real estate investments designated as held for sale at Merger closing: The Company designated six properties as held for sale at the closing of the Merger on December 17, 2015. There was one property in this classification as of March 31, 2016 and six properties as of December 31, 2015. These properties are reported at estimated fair value, less costs to sell and are included in discontinued operations. Refer to Note 2 and Note 3 for more information on these instruments. Disclosure about fair value measurements is based on pertinent information available to the Company at the reporting date. Although the Company is not aware of any factors that would significantly affect the reasonable fair value amounts, such amounts have not been comprehensively revalued for the purpose of these financial statements since March 31, 2016 and December 31, 2015 , and current estimates of fair value may differ significantly from the amounts presented herein. The following discussion of fair value was determined by the Company using available market information and appropriate valuation methodologies. Considerable judgment is necessary to interpret market data and develop estimated fair value. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of the assets or liabilities. Determining which category an asset or liability falls within the hierarchy requires significant judgment and the Company evaluates its hierarchy disclosures each quarter. Assets and liabilities measured at fair value on a recurring basis and on a non-recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations. At March 31, 2016 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 8,786 $ — $ — $ 8,786 Marketable securities: Investment in CBRE Strategic Partners Asia 5,126 — — 5,126 Real estate investments classified as held for sale at Merger closing 10,522 — — 10,522 $ 24,434 $ — $ — $ 24,434 Financial Liabilities: Derivative instruments: Interest rate swaps $ 27,461 $ — $ — $ 27,461 $ 27,461 $ — $ — $ 27,461 At December 31, 2015 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 7,471 $ — $ — $ 7,471 Marketable securities: Investment in CBRE Strategic Partners Asia 5,508 — — 5,508 Real estate investments classified as held for sale at Merger closing 393,984 — — 393,984 $ 406,963 $ — $ — $ 406,963 Financial Liabilities: Derivative instruments: Interest rate swaps $ 3,442 $ — $ — $ 3,442 $ 3,442 $ — $ — $ 3,442 Derivative instruments: Interest rate swaps are valued with the assistance of a third-party derivative specialist, who uses a combination of observable market-based inputs, such as interest rate curves, and unobservable inputs which require significant judgment such as the credit valuation adjustments due to the risk of non-performance by both the Company and its counterparties. The most significant unobservable input in the fair valuation of derivative instruments is the credit valuation adjustment as it requires significant management judgment regarding changes in the credit risk of the Company or its counterparties, however the primary driver of the fair value of the interest rate swaps is the forward interest rate curve. Fair values of the Company’s derivative instruments were valued using a Black-Scholes model. Fair value of the Company’s embedded exchange option was determined using a probabilistic valuation model with the assistance of third-party valuation specialists. Total unrealized losses from derivatives for the three months ended March 31, 2016 and 2015 were $(22,189) and $(2,132) , respectively, in accumulated other comprehensive income (loss). Retained CDO Bonds : Retained CDO Bonds are valued on a recurring basis using an internally developed discounted cash flow model. Management estimates the timing and amount of cash flows expected to be collected and applies a discount rate equal to the yield that the Company would expect to pay for similar securities with similar risks at the valuation date. Future expected cash flows generated by management require significant assumptions and judgment regarding the expected resolution of the underlying collateral, which includes loans and other lending investments, real estate investments, and collateralized mortgage backed securities. The resolution of the underlying collateral requires further management assumptions regarding capitalization rates, lease-up periods, future occupancy rates, market rental rates, holding periods, capital improvements, net property operating income, timing of workouts and recoveries, loan loss severities and other factors. The models are most sensitive to the unobservable inputs such as the timing of a loan default or property sale and the severity of loan losses. Significant increases (decreases) in any of those inputs in isolation as well as any change in the expected timing of those inputs would result in a significantly lower (higher) fair value measurement. Due to the inherent uncertainty in the determination of fair value, the Company has designated its Retained CDO Bonds as Level III. Investment in CBRE Strategic Partners Asia: The Company’s investment in CBRE Strategic Partners Asia is based on the Level III valuation inputs applied by the investment manager of CBRE Strategic Partners Asia, utilizing a mix of different approaches for valuing the underlying real estate related investments within the investment company. The approaches include the income approach, direct market comparison approach and the replacement cost approach for newer properties. For investments owned more than one year, except for investments under construction or incurring significant renovation, CBRE Strategic Partners Asia obtains a third-party appraisal. For investments in real estate under construction or incurring significant renovation, the valuation analysis is prepared by the investment manager of CBRE Strategic Partners Asia. The valuations are most sensitive to the unobservable inputs of discount rates, as well as capitalization rates an expected future cash flows, and significant increases (decreases) in these inputs would result in a significantly lower (higher) fair value measurement. On a quarterly basis, the Company obtains the financial results of CBRE Strategic Partners Asia and on an annual basis the Company receives audited financial statements. Real estate investments classified as held for sale at Merger closing: Real estate investments classified as held for sale at the time of the Merger are reported at estimated fair value, less costs to sell. The fair value of real estate investments and their related lease intangibles is determined by an independent valuation firm using valuation techniques including the market approach, income approach, and cost approach. Key assumptions in the valuations, to which the fair value determinations are most sensitive, include discount and capitalization rates as well as expected future cash flows. Significant increases (decreases) in these inputs would result in a significantly lower (higher) fair value measurement. As the inputs are unobservable, the Company determined the inputs used to value this liability falls within Level III for fair value reporting. Fair Value on a Recurring Basis Quantitative information regarding the valuation techniques and the range of significant unobservable Level III inputs used to determine fair value measurements on a recurring basis as of March 31, 2016 are: At March 31, 2016 Financial Asset or Liability Fair Value Valuation Technique Unobservable Inputs Range Non-investment grade, subordinate CDO bonds $ 8,786 Discounted cash flows Discount rate 22.50% Interest rate swaps $ 27,461 Hypothetical derivative method Credit borrowing spread 135 to 220 basis points Investment in CBRE Strategic Partners Asia $ 5,126 Discounted cash flows Discount rate 20.00% The following roll forward table reconciles the beginning and ending balances of financial assets measured at fair value on a recurring basis using Level III inputs: Retained CDO Bonds Investment in CBRE Strategic Partners Asia Total Financial Assets – Level III Balance as of December 31, 2015 $ 7,471 $ 5,508 $ 12,979 Amortization of discounts or premiums 381 — 381 Adjustments to fair value: Unrealized gain in other comprehensive income from fair value adjustment 934 — 934 Total income on fair value adjustment — (68 ) (68 ) Purchase price allocation adjustments — (314 ) (314 ) Balance as of March 31, 2016 $ 8,786 $ 5,126 $ 13,912 The following roll forward table reconciles the beginning and ending balances of financial liabilities measured at fair value on a recurring basis using Level III inputs: Derivative Instruments Balance as of December 31, 2015 $ 3,442 Adjustments to fair value: Ineffective portion of change in derivative instruments 1,830 Unrealized loss on derivatives 22,189 Balance as of March 31, 2016 $ 27,461 Fair Value on a Non-Recurring Basis The Company measured its real estate investments classified as held for sale at the time of the Merger on a non-recurring basis as of March 31, 2016 and December 31, 2015. The Company had one and six assets in this classification as of March 31, 2016 and December 31, 2015, respectively, as the Company sold five of the assets during the first quarter of 2016. These assets were recorded at fair value, less costs to sell of $10,522 and $393,984 as of March 31, 2016 and December 31, 2015, respectively, and are included in discontinued operations. Refer to Note 3 for further information on these assets.

Derivative and Non-Derivative H

Derivative and Non-Derivative Hedging Instruments	3 Months Ended
	Mar. 31, 2016
Derivative Instrument Detail [Abstract]
Derivative and Non-Derivative Hedging Instruments	Derivative and Non-Derivative Hedging Instruments In connection with the Merger, the Company assumed three interest rate swap derivative contracts related to mortgage loans on real estate assets and re-designated these interest rate swaps as cash flow hedges. Additionally, following the Merger, the Company terminated the interest rate swap on its unsecured $200,000 senior term loan a nd, in connection with its entry into the 2015 Revolving Credit Facility, entered into two new interest rate swap derivative contracts related to the 3-Year Term Loan and 7-Year Term Loan associated with its 2015 Revolving Credit Facility. As of March 31, 2016 , the Company’s derivative instruments consist of interest rate swaps, which are cash flow hedges. Changes in the effective portion of fair value of the derivatives are recognized in other comprehensive income (loss) until the hedged item expires or is recognized in earnings. Borrowings on the Company’s foreign currency denominated tranche of the 2015 Revolving Credit Facility and borrowings on the foreign currency denominated tranche of the Company’s $200,000 million senior revolving credit facility that the Company terminated in December 2015 , which are designated as non-derivative net investment hedges, are recognized at par value based on the exchange rate in effect on the date of the draw. Subsequent changes in the exchange rate of the Company’s non-derivative net investment hedge are recognized as part of the cumulative foreign currency translation adjustment within other comprehensive income (loss). The ineffective portion of the change in fair value of a derivative or non-derivative hedging instrument will be immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and shareholders’ equity, depending on future levels of LIBOR interest rates and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows, provided the contract is carried through to full term. Refer to Note 2 and Note 9 for additional information on the Company’s derivative and non-derivative hedging instruments, including the fair value measurement of these instruments, as applicable. The following table summarizes the notional and fair value of the Company’s derivative and hedging instruments at March 31, 2016 . The fair value of the derivatives is presented in the Company’s balance sheet in Derivative instruments, at fair value and the carrying value of the non-derivative net investment hedge is included in the balance of the Company’s 2015 Revolving Credit Facility. The notional value is an indication of the extent of the Company’s involvement in this instrument at that time, but does not represent exposure to credit, interest rate or market risks: Benchmark Rate Notional Value Strike Rate Effective Date Expiration Date Fair Value Assets of Non-VIEs: Interest Rate Swap - Waco 1 mo. USD-LIBOR-BBA 15,410 USD 4.55% 12/19/2013 12/19/2020 $ 953 Interest Rate Swap - Point West I 1 mo. USD-LIBOR-BBA 10,310 USD 1.41% 8/16/2011 12/6/2016 62 Interest Rate Swap - Atrium I 1 mo. USD-LIBOR-BBA 20,410 USD 1.78% 8/16/2011 5/31/2018 444 Interest Rate Swap - Easton III 1 mo. USD-LIBOR-BBA 6,048 USD 1.95% 8/16/2011 1/31/2019 188 Interest Rate Swap - 5-Year Term Loan 1 mo. USD-LIBOR-BBA 750,000 USD 1.60% 12/17/2015 12/17/2020 19,337 Interest Rate Swap - 7-Year Term Loan 1 mo. USD-LIBOR-BBA 175,000 USD 1.82% 12/17/2015 1/9/2023 6,477 Non-Derivative Net Investment Hedge in Gramercy European Property Fund EUR-USD exchange rate 20,000 Euros N/A 9/28/2015 N/A — Total hedging instruments $ 27,461 Through its interest rate swaps, the Company is hedging exposure to variability in future interest payments on its debt facilities. At March 31, 2016 , the interest rate swap derivative instruments were reported at their fair value as a net liability of $27,461 . Swap loss of $1,830 was recognized as interest expense in the Condensed Consolidated Statements of Operations with respect to interest rate swap hedge ineffectiveness, or to amounts excluded from ineffectiveness, which relates to the off-market financing element associated with certain derivatives. No gain or loss was recognized with respect to hedge ineffectiveness or to amounts excluded from ineffectiveness for the three months ended March 31, 2015. During the three months ended March 31, 2016 , the Company reclassified $315 from accumulated other comprehensive income into interest expense related to a derivative terminated in 2015. Over time, the realized and unrealized gains and losses held in accumulated other comprehensive income will be reclassified into earnings in the same periods in which the hedged interest payments affect earnings. During the next 12 months, the Company expects that $9,145 will be reclassified from other comprehensive income as an increase in interest expense for the Company’s interest rate swaps as of March 31, 2016 . Additionally, the Company will recognize $3,468 in interest expense on a straight-line basis over the remaining original term of terminated swaps through June 2019, representing amortization of the remaining accumulated other comprehensive income balance related to the swap, and of this amount 1,087 will be recognized in interest expense during the next 12 months. Through its non-derivative net investment hedge, which was entered into in September 2015, the Company is hedging exposure to changes in the euro-U.S. dollar exchange rate of its net equity investment in the Gramercy European Property Fund, which has euros as its functional currency. At March 31, 2016 , the non-derivative net investment hedge was reported at its carrying value as a net liability of $22,760 , which is included in the balance of the senior unsecured revolving credit facility on the Condensed Consolidated Balance Sheets. During the three months ended March 31, 2016 , the Company recorded a net loss of $(1,036) in other comprehensive income (loss) from the impact of exchange rates related to the non-derivative net investment hedge. No gain or loss was recognized with respect to non-derivative net investment hedge ineffectiveness, or to amounts excluded from ineffectiveness, in interest expense in the Condensed Consolidated Statement of Operations for the three months ended March 31, 2016 . When the non-derivative net investment is sold or substantially liquidated, the balance of the translation adjustment accumulated in other comprehensive income will be reclassified into earnings.

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Shareholders' Equity (Deficit)	Shareholders’ Equity (Deficit) The equity structure in the condensed consolidated financial statements following the reverse merger reflects the equity structure of the Company. As a result, the Company’s common shares outstanding have been adjusted retroactively for all prior periods presented computed on the basis of the number of shares outstanding multiplied by the exchange ratio of 3.1898 established in the Merger Agreement. As of March 31, 2016 and 2015 , the Company’s authorized capital shares consist of 1,000,000,000 shares of beneficial interest, $0.01 par value per share, of which the Company is authorized to issue up to 990,000,000 common shares of beneficial interest, par value $0.01 per share, or common shares, and 10,000,000 preferred shares of beneficial interest, par value of $0.01 , or preferred shares. As of March 31, 2016 , 421,500,741 common shares and 3,500,000 preferred shares were issued and outstanding, respectively. All share, share price, and per share data has been updated retroactively to reflect the Merger exchange ratio of 3.1898 . In February 2016, the Company’s board of trustees authorized and the Company declared a dividend of $0.11 per common share, which was paid on April 15, 2016 to common share and unitholders of record as of the close of business on March 31, 2016 . In February 2016, the Company’s board of trustees approved a share repurchase program authorizing the Company to repurchase up to $100,000 of the Company’s outstanding common shares. Purchases under the program will be made from time to time in the open market or in privately negotiated transactions. The timing, manner, price and amount of any repurchases will be determined by the Company in its discretion and will be subject to economic and market conditions, stock price, applicable legal requirements and other factors. The program may be suspended or discontinued at any time. For the three months ended March 31, 2016, the Company did not repurchase any shares. In February 2015, Legacy Gramercy’s board of directors approved a 1-for-4 reverse stock split of its common stock and outstanding Class A limited partnership units of Legacy Gramercy's operating partnership, or Legacy OP Units. The reverse stock split was effective after the close of trading on March 20, 2015, and the Company’s common stock began trading on a reverse split-adjusted basis on the New York Stock Exchange on March 23, 2015. Preferred Shares Upon closing of the Merger on December 17, 2015, each of Legacy Gramercy’s 3,500,000 shares of 7.125% Series B Cumulative Redeemable Preferred Stock, or Series B Preferred Stock, was exchanged for one share of the Company’s 7.125% Series A Cumulative Redeemable Preferred Shares, or Series A Preferred Shares, which have the same preferences, rights and privileges as the Series B Preferred Stock. Holders of the Series A Preferred Shares are entitled to receive annual dividends of $1.78125 per share on a quarterly basis and dividends are cumulative, subject to certain provisions. On or after August 15, 2019, the Company can, at its option, redeem the Series A Preferred Shares at par for cash. At March 31, 2016 , the Company has 3,500,000 of its Series A Preferred Shares outstanding with a mandatory liquidation preference of $25.00 per share. Equity Plan Activities Following the Merger, the Company’s active equity incentive plan, from which share awards are issued, is the legacy Chambers equity incentive plan, or the 2013 Equity Incentive Plan. The 2013 Equity Incentive Plan allows for the following awards to be made: (i) stock options that qualify as incentive stock options under Section 422 of the Internal Revenue Code, (ii) stock options that do not qualify, (iii) stock app reciation rights, (iv) share awards , (v) phantom shares, and (vi) dividend equivalents and other equity awards. As of March 31, 2016 , there were 2,820,792 shares available for grant under the 2013 Equity Incentive Plan. The Company’s 2004 Equity Incentive Plan, 2012 Inducement Plan, 2012 Outperformance Plan, and 2015 Equity Incentive Plan continued to exist following the Merger, however they became inactive and thus no new share awards will be issued out of any of those plans. In connection with the adoption of the 2015 Equity Incentive Plan, seven senior officers were issued a total of 308,444 restricted shares in June 2015, 50% of which will vest on each of the fourth and fifth anniversaries of the grant date, subject to continued employment. Effective at the closing of the Merger, the change in accelerated vesting control provisions of the 2012 Outperformance Plan were waived by all plan participants, and as a result the LTIP units will continue on, subject to the original service and performance conditions. Through March 31, 2016 , 2,908,116 restricted shares had been issued under the Company’s Equity Incentive Plans, of which 59% have vested. Except for certain performance based awards, the vested and unvested shares are currently entitled to receive distributions on common shares if declared by the Company. Holders of restricted shares are prohibited from selling such shares until they vest but are provided the ability to vote such shares beginning on the date of grant. Compensation expense of $483 and $245 was recorded for the three months ended March 31, 2016 and 2015 , respectively, related to the issuance of restricted shares. Compensation expense of $6,879 will be recorded over the course of the next 42 months representing the remaining weighted average vesting period of equity awards issued under the Equity Incentive Plans as of March 31, 2016 . As of March 31, 2016 and December 31, 2015 , the Company had 779,928 and 684,199 weighted-average unvested restricted shares outstanding, respectively. Compensation expense of $488 and $488 was recorded for the three months ended March 31, 2016 and 2015 , respectively, for the 2012 Outperformance Plan. Compensation expense of $2,438 will be recorded over the course of the next 15 months , representing the remaining weighted average vesting period of the awards issued under the 2012 Outperformance Plan as of March 31, 2016 . Deferred Stock Compensation Plan for Directors Under Legacy Gramercy’s Directors’ Deferral Program, which commenced April 2005 and was amended and restated effective January 1, 2015, the Company’s independent directors could elect to defer up to 100% of their annual retainer fee, chairman fees and meeting fees. Unless otherwise elected by a participant, fees deferred under the program were credited on a quarterly basis in the form of phantom shares using the closing price of the Company’s common stock for that quarter. Phantom shares were convertible into an equal number of shares of common stock upon such directors’ termination of service from the board of directors or a change in control by the Company. Participating directors who elected to receive fees in the form of phantom shares had the option to have their accounts credited for an equivalent amount of phantom shares stock units for any dividends declared based on the dividend rate for the quarter or have dividends paid in cash. In connection with the closing of the Merger, on December 17, 2015 each outstanding phantom share granted under Legacy Gramercy’s Directors’ Deferral Program, was vested and, on the first business day of the month following the Merger closing, converted into the right to receive a number of the Company’s common shares, rounded to the nearest whole share, determined by multiplying the number of subject phantom shares by the Exchange Ratio of the Merger. As a result, the directors received an aggregate of $916 in cash and 410,713 in shares in January 2016. The portion paid out in cash was classified as a liability on the Consolidated Balance Sheets as of December 31, 2015. The Legacy Gramercy’s Directors’ Deferral Program terminated upon consummation of the Merger. Earnings per Share The Company has adopted the two-class computation method, and thus includes all participating securities in the computation of basic shares for the periods in which the Company has net income available to vested common shares outstanding. A participating security is defined as an unvested share-based payment award containing non-forfeitable rights to dividends regardless of whether or not the awards ultimately vest or expire. Net losses are not allocated to participating securities unless the holder has a contractual obligation to share in the losses. Earnings per share for the three months ended March 31, 2016 and 2015 are computed as follows: Three Months Ended March 31, 2016 2015 Numerator – Income (loss): Net income (loss) from continuing operations $ (5,693 ) $ 24 Net income (loss) from discontinued operations 4,640 (62 ) Net loss (1,053 ) (38 ) Net loss attributable to noncontrolling interest 120 42 Nonforfeitable dividends allocated to unvested restricted shareholders (199 ) (19 ) Preferred share dividends (1,559 ) (1,559 ) Net loss available to vested common shares outstanding $ (2,691 ) $ (1,574 ) Denominator – Weighted average shares (1) : Weighted average basic shares outstanding 420,181,216 149,115,357 Effect of dilutive securities: Unvested share based payment awards — — Options — — Phantom shares — — Shares related to OP Units — — Exchangeable Senior Notes — — Diluted Shares 420,181,216 149,115,357 (1) As a result of the Merger, each outstanding share of common stock of Legacy Gramercy was converted into 3.1898 of a newly issued common share of the Company. Therefore, the historical data related to quarterly earnings per common share for the periods ended before December 31, 2015 have been adjusted by the Merger exchange ratio of 3.1898 . Diluted income (loss) per share assumes the conversion of all common share equivalents into an equivalent number of common shares if the effect is not anti-dilutive. Options were computed using the treasury share method. The Company only includes the effect of the excess conversion premium on its Exchangeable Senior Notes in the calculation of diluted earnings per share, as the Company has the intent and ability to settle the debt component of the Exchangeable Senior Notes in cash and the excess conversion premium in shares. The weighted average price of the Company’s common shares for the three months ended March 31, 2016 was below the exchange price of $7.66 for the period. Therefore, there is no potential dilutive effect of the excess conversion premium and no effect was included in the calculation of diluted earnings per share for the three months ended March 31, 2016 . The weighted average price of the Company’s common shares for the three months ended March 31, 2015 was above the exchange price of $7.76 for the period, however due to the net loss available to vested common shares outstanding, the excess conversion premium was excluded from the calculation of earnings per share for the three months ended March 31, 2015 . For the three months ended March 31, 2016 , 16,336 share options, 2,883,465 unvested share based payment awards, and 1,374,302 common shares related to Legacy OP Units were computed using the treasury share method, which due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period were anti-dilutive. For the three months ended March 31, 2016 , the Company excluded unvested restricted share awards of 779,928 from its weighted average basic shares outstanding due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period. For the three months ended March 31, 2015, 50,058 share options, 2,039,175 unvested share based payment awards, 488,778 phantom share units, 1,701,391 Legacy OP Units, and 1,737,718 Exchangeable Senior Notes were computed using the treasury share method, which due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period were anti-dilutive. For the three months ended March 31, 2015, the Company excluded unvested restricted share awards of 520,585 from its weighted average basic shares outstanding due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period. Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) as of March 31, 2016 and December 31, 2015 is comprised of the following: March 31, 2016 December 31, 2015 Net unrealized loss on derivative securities $ (28,263 ) $ (6,074 ) Net unrealized gain on debt instruments 1,944 1,010 Foreign currency translation adjustments: Gain (loss) on non-derivative net investment hedge (1) (1,022 ) 14 Other foreign currency translation adjustments 6,499 (656 ) Reclassification of swap loss into interest expense 315 (45 ) Total accumulated other comprehensive loss $ (20,527 ) $ (5,751 ) (1) The foreign currency translation adjustment associated with the Company’s non-derivative net investment hedge related to its equity investment in the Gramercy European Property Fund is included in other comprehensive income (loss).

Noncontrolling Interest

Noncontrolling Interest	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest Noncontrolling interests represent the common units of limited partnership interest in Legacy Gramercy’s operating partnership, the entity that owns substantially all of Legacy Gramercy’s assets and investments, or Legacy OP Units, not held by the Company as well as third-party equity interests in the Company’s other consolidated subsidiaries. Legacy OP Units may be redeemed for one share of the Company’s common stock. The redemption rights are outside of the Company’s control, and thus the Legacy OP Units are classified as a component of temporary equity and are shown in the mezzanine equity section of the Company’s Condensed Consolidated Financial Statements. The Company is party by assumption to a registration rights agreement with the holders of the Legacy OP Units that requires the Company, subject to the terms and conditions and certain exceptions set forth therein, to file and maintain a registration statement relating to the issuance of shares of its common shares upon redemption of Legacy OP Units. Common Units of Limited Partnership Interest in the Operating Partnership On July 31, 2014, the Company issued 944,601 Legacy OP Units in connection with the acquisition of three properties. Subsequent to the Merger, each Legacy OP Unit may be redeemed at the election of the holder for cash equal to the then fair market value of 3.1898 shares of the Company’s common stock, par value $0.01 per share, except that the Company may, at its election, acquire each Legacy OP Unit for 3.1898 shares of the Company’s common stock. The Legacy OP Unit holders do not have any obligation to provide additional contributions to the partnership, nor do they have any decision making powers or control over the business of Legacy Gramercy’s operating partnership. The Legacy OP Unit holders do not have voting rights; however, they are entitled to receive dividends. As of March 31, 2016 , the noncontrolling interest unit holders owned 420,486 Legacy OP Units, which can be redeemed for 1,341,268 shares, a s each Legacy OP Unit is redeemable for 3.1898 shares of the Company’s common stock following the Merger. The outstanding Legacy OP Units as of March 31, 2016 represent an interest of approximately 0.32% in the Company. During the three months ended March 31, 2016 and the year ended December 31, 2015 , 21,832 and 142,056 Legacy OP Units, respectively, were converted into shares of Legacy Gramercy’s common stock. At March 31, 2016 , 1,341,268 shares of the Company’s common stock were reserved for issuance upon redemption of units of limited partnership interest of the Company’s Operating Partnership. Legacy OP Units are recorded at the greater of cost basis or fair market value based on the closing share price of the Company’s common shares at the end of the reporting period. As of March 31, 2016 , the value of the Legacy OP units was $11,334 . The Company attributes a portion of its net income (loss) during each reporting period to noncontrolling interest based on the percentage ownership of Legacy OP Unit holders relative to the Company’s total outstanding common shares and Legacy OP Units. The Company recognizes changes in fair value in the Legacy OP Units through accumulated deficit, however decreases in fair value are recognized only to the extent that increases to the amount in temporary equity were previously recorded. The Company’s diluted earnings per share includes the effect of any potential shares outstanding from redemption of the Legacy OP Units. Below is the rollforward of the activity relating to the noncontrolling interests in Legacy Gramercy’s operating partnership as of March 31, 2016 : Noncontrolling Interest Balance as of December 31, 2015 $ 10,892 Issuance of noncontrolling interests in the Company’s operating partnerships — Redemption of noncontrolling interests in the Company’s operating partnerships (523 ) Net loss attribution (8 ) Fair value adjustments 1,207 Dividends (234 ) Balance as of March 31, 2016 $ 11,334 Interests in Other Operating Partnerships In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired a 50% equity interest in European Fund Manager, which provides investment and asset management services to Gramercy European Property Fund. European Fund Manager is a VIE of the Company and is consolidated into its Condensed Consolidated Financial Statements. Refer to Note 2 for further discussion of the VIE and consolidation considerations. As of March 31, 2016 and December 31, 2015 , the value of the Company’s interest in European Fund Manager was $(377) and $(249) , respectively. The Company’s interest in European Fund Manager is presented in the equity section of the Company’s Condensed Consolidated Financial Statements.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Funding Commitments The Company is obligated to fund the development of Proportion Foods, a build-to-suit property in Round Rock, Texas, which is a consolidated VIE, and upon substantial completion of the development to acquire the property through a forward purchase contract. The Company’s remaining future commitment for the property at March 31, 2016 is approximately $20,838 . The Company has committed approximately $56,900 ( €50,000 ) to the Gramercy European Property Fund, which was formed in December 2014. As of March 31, 2016 and December 31, 2015 , the Company had contributed $28,134 ( €25,358 ) and $25,663 ( €23,160 ), respectively. See Note 5 , “Unconsolidated Equity Investments,” for further information on the Gramercy European Property Fund. Foreign currency commitments have been converted into U.S. dollars based on (i) the foreign exchange rate at the closing date for completed transactions and (ii) the exchange rate that prevailed on December 31, 2015, in the case of unfunded commitments. Legal Proceedings The Company evaluates litigation contingencies based on information currently available, including the advice of counsel and the assessment of available insurance coverage. The Company will establish accruals for litigation and claims when a loss contingency is considered probable and the related amount is reasonably estimable. The Company will periodically review these contingencies which may be adjusted if circumstances change. The outcome of a litigation matter and the amount or range of potential losses at particular points may be difficult to ascertain. If a range of loss is estimated and an amount within such range appears to be a better estimate than any other amount within that range, then that amount is accrued. Legacy Gramercy, its board of directors, Chambers and/or Merger Sub are named as defendants in two pending putative class action lawsuits brought by purported Legacy Gramercy stockholders challenging the Merger. Two suits that were separately filed in New York Supreme Court, New York County, captioned (i) Berliner v. Gramercy Property Trust, et al., Index No. 652424/2015 (filed July 9, 2015) and (ii) Gensler v. Baum, et al., Index No. 157432/2015 (filed July 22, 2015), have been consolidated into a single action under the caption In re Gramercy Property Trust Stockholder Litigation, Index No. 652424/2015 (the “New York Action”). In addition, four suits that were separately filed in Circuit Court for Baltimore City, Maryland, captioned (i) Jobin v. DuGan, et al., Case No. 24-C-15-003942 (filed July 27, 2015); (ii) Vojik v. Gramercy Property Trust, et al., Case No. 24-C-15-004412 (filed August 25, 2015); (iii) Hoffbauer et al. v. Chambers Street Properties, et al., 24-C-15-004904 (filed September 24, 2015) (originally filed as two separate suits in the Circuit Court for Baltimore County, Maryland, captioned Plemons v. Chambers Street Properties, et al., Case No. 03-C-15-007943 (filed July 24, 2015) and Hoffbauer et al. v. Chambers Street Properties, et al., Case No. 03-C-15-008639 (filed August 12, 2015), and refiled as a single action in the Circuit Court for Baltimore County on September 24, 2015); and (iv) Morris v. Gramercy Property Trust, et al., Case No. 24-C-15-004972 (filed September 28, 2015) have been consolidated into a single action under the caption Glenn W. Morris v. Gramercy Property Trust Inc. et al., Case No. 24-C-15-004972 (the “Maryland Action,” and together with the New York Action, the “Actions”). The complaints allege, among other things, that the directors of Legacy Gramercy breached their fiduciary duties to Legacy Gramercy stockholders by agreeing to sell the Company for inadequate consideration and agreeing to improper deal protection terms in the merger agreement, and that the preliminary joint proxy statement/prospectus filed with the SEC on Form S-4 on September 11, 2015 was materially incomplete and misleading. The complaints also allege that Chambers, Merger Sub and/or Legacy Gramercy aided and abetted these purported breaches of fiduciary duty. The amended complaint in the Morris consolidated action also asserts derivative claims on behalf of Legacy Gramercy for breach of fiduciary duty against the directors of Legacy Gramercy. Plaintiffs seek, among other things, an injunction barring the Merger, rescission of the Merger to the extent it is already implemented, declaratory relief, an award of damages and/or costs/attorney fees. On December 7, 2015, the parties to the Actions entered into a Memorandum of Understanding (the “MOU”), which provides for the settlement of the Actions. While the defendants in the Actions continue to vigorously deny all allegations of wrongdoing, fault, liability or damage to any of the plaintiffs or the class of stockholders of Legacy Gramercy, and believe that no supplemental disclosure is required under the applicable law, in order to (i) avoid the burden, inconvenience, expense and distraction of further litigation in connection with the Actions, (ii) finally put to rest and terminate all of the claims that were or could have been asserted against the defendants in the Actions and (iii) permit the Merger to proceed without risk of the courts in New York or Maryland ordering an injunction or damages in connection with the Actions, Chambers and Legacy Gramercy agreed, without admitting any liability or wrongdoing, pursuant to the terms of the MOU, to make certain supplemental disclosures related to the proposed Merger, which were set forth in Legacy Gramercy’s Current Report on Form 8-K filed with on December 7, 2015. The MOU contemplates that the parties will enter into a stipulation of settlement. The stipulation of settlement will be subject to customary conditions, including, among other things, confirmatory discovery and court approval following notice to Legacy Gramercy stockholders. In the event that the parties enter into a stipulation of settlement, a hearing will be scheduled at which a court will consider the fairness, reasonableness and adequacy of the settlement. If the settlement is finally approved by the court, it will resolve and release all claims by stockholders of Legacy Gramercy challenging any aspect of the proposed Merger, the Merger Agreement and any disclosure made in connection therewith, pursuant to terms that will be set forth in the notice sent to Legacy Gramercy stockholders prior to final approval of the settlement. In addition, in connection with the settlement, the parties contemplate that plaintiffs’ counsel will file a petition for an award of attorneys’ fees and expenses to be paid by Gramercy or its successor. There can be no assurance that the court will approve the settlement. In the event that the settlement is not approved or that the conditions are not satisfied, the settlement may be terminated. On October 1, 2015, a putative class action lawsuit was filed in the Superior Court of New Jersey, Law Division, Mercer County by a purported shareholder of Chambers. The action, captioned Elstein v. Chambers Street Properties et al., Docket No. L-002254-15 (the “New Jersey Action”), names as defendants Chambers, its board of trustees and Legacy Gramercy. The complaint alleges, among other things, that the trustees of Chambers breached their fiduciary duties to Chambers’ shareholders by agreeing to the Merger after a flawed sales process and by approving improper deal protection terms in the merger agreement, and that Legacy Gramercy aided and abetted these purported breaches of fiduciary duty. The complaint also alleges that the preliminary joint proxy statement/prospectus was materially misleading and incomplete. Plaintiffs seek, among other things, an injunction barring the Merger, rescission of the Merger to the extent it is already implemented, declaratory relief and an award of damages. On December 3, 2015, the parties to the New Jersey Action entered into a Stipulation of Settlement providing for the settlement of the New Jersey Action. While the defendants in the New Jersey Action continue to vigorously deny all allegations of wrongdoing, fault, liability or damage to any of the plaintiffs or the class of shareholders of Chambers, and believe that no supplemental disclosure is required under the applicable law, in order to (i) avoid the burden, inconvenience, expense and distraction of further litigation in connection with the New Jersey Action, (ii) finally put to rest and terminate all of the claims that were or could have been asserted against the defendants in the New Jersey Action and (iii) permit the Merger to proceed without risk of the Superior Court of New Jersey ordering an injunction or damages in connection with the New Jersey Action, Chambers and Legacy Gramercy agreed, without admitting any liability or wrongdoing, pursuant to the terms of the Stipulation of Settlement, to make certain supplemental disclosures related to the proposed Merger, all of which were set forth in Legacy Gramercy’s Current Report on Form 8-K filed with on December 7, 2015. The Stipulation of Settlement is subject to customary conditions, including court approval following notice to the Chambers shareholders. On April 4, 2016, the court granted preliminary approval of the settlement and scheduled a hearing to consider final approval for May 20, 2016. If the settlement is finally approved by the court, it will resolve and release all claims by shareholders of Chambers challenging any aspect of the proposed Merger, the Merger Agreement and any disclosure made in connection therewith, including in the Definitive Proxy Statement, pursuant to terms set forth in the notice sent to Chambers’ shareholders. There can be no assurance that the court will approve the settlement. In the event that the settlement is not approved or that the conditions are not satisfied, the settlement may be terminated. The defendants believe the lawsuits are without merit. In December 2010, the Company sold its 45% joint venture interest in the leased fee of the 2 Herald Square property in New York, New York, for approximately $25,600 plus assumed mortgage debt of approximately $86,100 , or the 2 Herald Sale Transaction. Subsequent to the closing of the transaction, the New York City Department of Finance, or the NYC DOF, and New York State Department of Taxation, or the NYS DOT, issued notices of determination assessing, in the case of the NYC DOF notice, approximately $2,924 of real property transfer tax, plus interest, and, in the case of the NYS DOT notice, approximately $446 of real property transfer tax, plus interest, collectively, the Transfer Tax Assessments, against the Company in connection with the 2 Herald Sale Transaction. The Company believes that NYC DOF and NYS DOT erred in issuing the Transfer Tax Assessments and intends to vigorously defend against same. In September 2013, the Company filed a petition challenging the NYC DOF Transfer Tax Assessment with the New York City Tax Appeal Tribunal. In July 2014, the Company filed a similar petition challenging the NYS DOT Transfer Tax Assessment. Trial of the Company’s NYC DOF Transfer Tax Assessment appeal was completed in December 2014. In April 2015, the New York City Tax Appeals Tribunal, or the NYC Tribunal, rendered an opinion denying the Company’s petition challenging the NYC DOF Transfer Tax Assessment and ruled that the Company is liable for the NYC DOF Transfer Tax Assessment. In July 2015, the Company appealed the adverse decision of the NYC Tribunal. A decision on the Company’s appeal is expected in late-2016. No decision has yet been rendered in connection with the NYS DOT Transfer Tax Assessment, which the Company anticipates will be set for trial by late 2016. In April 2015, to stop the accrual of additional interest while the Company’s appeals are pending, the Company paid the NYC DOF $4,025 in full satisfaction of the NYC DOF Transfer Tax Assessment and the NYS DOT $617 in full satisfaction of the NYS DOF Transfer Tax Assessment. There was $0 and $68 of additional interest recorded in discontinued operations for the matter for the three months ended March 31, 2016 and 2015, respectively. In connection with the Company’s property acquisitions and the Merger, the Company has determined that there is a risk it will have to pay future amounts to tenants related to continuing operating expense reimbursement audits. The Company has estimated a range of loss and determined that its best estimate of total loss is $8,000 , including $1,000 related to the Merger, which has been accrued and recorded in other liabilities as of March 31, 2016 and December 31, 2015 . The Company has determined that there is a reasonable possibility that a loss may be incurred in excess of $8,000 and estimates this range to be $8,000 to $13,000 . In addition, the Company and/or one or more of its subsidiaries is party to various litigation matters that are considered routine litigation incidental to its business, none of which are considered material. Office Leases The Company has several office locations, which are each subject to operating lease agreements. These office locations include the Company’s corporate office at 521 Fifth Avenue, New York, New York, and the Company’s regional offices located in Horsham, Pennsylvania, Clayton, Missouri, and London, United Kingdom. Capital and Operating Ground Leases Certain properties acquired are subject to ground leases, which are accounted for as operating and capital leases. The ground leases have varying ending dates, renewal options and rental rate escalations, with the latest leases extending to June 2053 . Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows: Ground Leases - Operating Ground Leases - Capital Total April 1 to December 31, 2016 $ 1,374 $ — $ 1,374 2017 1,728 — 1,728 2018 1,728 — 1,728 2019 1,707 — 1,707 2020 1,732 — 1,732 Thereafter 47,991 329 48,320 Total minimum rent expense $ 56,260 $ 329 $ 56,589 The Company incurred rent expense on ground leases of $451 and $384 during the three months ended March 31, 2016 and 2015 , respectively.

Income Taxes

Income Taxes	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code beginning with its taxable year ended December 31, 2004. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income to stockholders. As a REIT, the Company generally will not be subject to U.S. federal income tax on taxable income that it distributes to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distributions to stockholders. However, the Company believes that it is organized and will operate in such a manner as to qualify for treatment as a REIT and the Company intends to operate in the foreseeable future in such a manner so that it will qualify as a REIT for U.S. federal income tax purposes. The Company may, however, be subject to certain state and local taxes. The Company’s TRSs are subject to federal, state and local taxes. The Company’s Asset and Property management business, Gramercy Asset Management, conducts its business through a wholly-owned TRS. In addition to the limitation on the Company’s use of its net operating losses under Section 382, since the Company uses separate subsidiary REITs and taxable REIT subsidiaries to conduct different aspects of its business, losses incurred by the individual subsidiary REITs and TRSs are only available to offset taxable income derived by each respective subsidiary REIT or TRS. For the three months ended March 31, 2016 and 2015 the Company recorded $703 and $1,114 of income tax expense. Tax expense for the three months ended March 31, 2016 and 2015 in continuing operations is comprised of federal, state and local taxes primarily attributable to Gramercy Asset Management. The Company’s policy for interest and penalties, if any, on material uncertain tax positions recognized in the financial statements is to classify these as interest expense and operating expense, respectively. As of March 31, 2016 and December 31, 2015, the Company did not incur any material interest or penalties.

Segment Reporting

Segment Reporting	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As of March 31, 2016 , the Company has determined that it has two reportable operating segments: Asset Management and Investments/Corporate. The reportable segments are determined based upon the management approach, which looks to the Company’s internal organizational structure. The Company’s lines of business require different support infrastructures. All significant inter-segment balances and transactions have been eliminated. The Asset Management segment includes substantially all of the Company’s activities related to asset and property management of commercial properties located throughout the United States and Europe. The Asset Management segment generates revenues from fee income related to the management agreements for properties owned by third parties throughout the United States and Europe. The Investments/Corporate segment includes all of the Company’s activities related to the investment and ownership of commercial properties located throughout the United States and Europe. The Investments/Corporate segment generates revenues from rental revenues from properties owned by the Company, either directly or in unconsolidated equity investments. The Company evaluates performance based on the following financial measures for each segment: Asset Management Investments / Corporate Total Company Three Months Ended March 31, 2016 Total revenues $ 5,151 $ 115,394 $ 120,545 Equity in net loss from unconsolidated equity investments — (2,755 ) (2,755 ) Total operating and interest expense (1) (5,459 ) (118,024 ) (123,483 ) Net loss from continuing operations $ (308 ) $ (5,385 ) $ (5,693 ) Asset Management Investments / Corporate Total Company Three Months Ended March 31, 2015 Total revenues $ 8,179 $ 39,756 $ 47,935 Equity in net loss from unconsolidated equity investments — (1 ) (1 ) Total operating and interest expense (1) (6,673 ) (41,237 ) (47,910 ) Net income (loss) from continuing operations $ 1,506 $ (1,482 ) $ 24 Asset Management Investments / Corporate Total Company Total Assets: March 31, 2016 $ 11,216 $ 5,337,093 $ 5,348,309 December 31, 2015 $ 5,882 $ 5,828,636 $ 5,834,518 (1) Total operating and interest expense includes operating costs on commercial property assets for the Investments/Corporate segment and costs to perform required functions under the management agreement for the Asset Management segment. Depreciation and amortization of $58,248 and $18,698 and provision for taxes of $703 and $1,114 for the three months ended March 31, 2016 and 2015 , respectively.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information The following table represents supplemental cash flow disclosures for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 20,638 $ 5,769 Income taxes paid 322 167 Proceeds from 1031 exchanges from sale of real estate 175,808 — Use of funds from 1031 exchanges for acquisitions of real estate (30,308 ) — Non-cash activity: Fair value adjustment to noncontrolling interest in the operating partnership $ 1,207 $ 350 Debt assumed in acquisition of real estate — 141,033 Debt transferred in disposition of real estate (101,432 ) — Redemption of units of noncontrolling interest in the operating partnership for common shares (524 ) (2,631 ) Non-cash activities recognized in other comprehensive income: Deferred losses and other non-cash activity related to derivatives $ (22,189 ) $ (2,132 ) Change in net unrealized loss on securities available for sale 934 5,750 Non-cash effect of foreign currency translation adjustments 6,119 (218 )

Subsequent Events

Subsequent Events	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events Subsequent to March 31, 2016, the Company closed on the acquisition of a portfolio of 12 industrial properties which comprise an aggregate of 1,439,696 square feet and were acquired for an aggregate purchase price of approximately $115,159 . The properties are 100% leased with lease terms ending between September 2021 and December 2032. In May 2016, the Company’s partner in the Goodman Europe Joint Venture agreed to sell its 20% interest to the Gramercy European Property Fund, both of which are related parties of the Company. The transaction is expected to close in the second quarter of 2016.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation The Condensed Consolidated Financial Statements include the Company’s accounts and those of the Company’s subsidiaries which are wholly-owned or controlled by the Company, or entities which are variable interest entities, or VIEs, in which the Company is the primary beneficiary. The primary beneficiary is the party that absorbs a majority of the VIE’s anticipated losses and/or a majority of the expected returns. The Company has evaluated its investments for potential classification as variable interests by evaluating the sufficiency of each entity’s equity investment at risk to absorb losses. Entities which the Company does not control and are considered VIEs, but where the Company is not the primary beneficiary, are accounted for under the equity method. All significant intercompany balances and transactions have been eliminated. The equity interests of other limited partners in the Company’s operating partnerships are reflected as noncontrolling interests.
Real Estate Investments	Real Estate Investments The Company records acquired real estate investments as business combinations when the real estate is occupied, at least in part, at acquisition. Costs directly related to the acquisition of such investments are expensed as incurred. The Company allocates the purchase price of real estate to land, building, improvements and intangibles, such as the value of above- and below-market leases, and origination costs associated with the in-place leases at the acquisition date. The values of the above- and below-market leases are amortized and recorded as either an increase, in the case of below-market leases, or a decrease, in the case of above-market leases, to rental revenue over the remaining term of the associated lease. The values associated with in-place leases are amortized to depreciation and amortization expense over the remaining term of the associated lease. The Company assesses the fair value of the leases at acquisition based upon estimated cash flow projections that utilize appropriate discount rates and available market information. Estimates of future cash flows are based on a number of factors including the historical operating results, known trends, and market/economic conditions that may affect the property. Additionally, for transactions that are business combinations, the Company evaluates the existence of goodwill or a gain from a bargain purchase at the time of acquisition. Acquired real estate investments involving sale-leasebacks that have newly-originated leases are recorded as asset acquisitions and accordingly, transaction costs incurred in connection with the acquisition are capitalized. Acquired real estate investments which are under construction are considered build-to-suit transactions and other acquired real estate investments that do not meet the definition of a business combination are recorded at cost. In build-to-suit transactions, the Company engages a developer to construct a property or provides funds to a tenant to develop a property. The Company capitalizes the funds provided to the developer/tenant and real estate taxes, if applicable, during the construction period. Certain improvements are capitalized when they are determined to increase the useful life of the building. Depreciation is computed using the straight-line method over the shorter of the estimated useful life at acquisition of the capitalized item or 40 years for buildings, five to ten years for building equipment and fixtures, and the lesser of the useful life or the remaining lease term for tenant improvements and leasehold interests. Maintenance and repair expenditures are charged to expense as incurred. In leasing space, the Company may provide funding to the lessee through a tenant allowance. If the Company is considered the owner of the leasehold improvements constructed using a tenant allowance, the Company capitalizes the amount of the allowance and depreciates it over the shorter of the useful life of the leasehold improvements or the lease term. If the tenant allowance represents a payment for a purpose other than funding leasehold improvements, or if the Company is not considered the owner of the improvements for accounting purposes, the allowance is considered to be a lease incentive and is recognized over the lease term as a reduction of rental revenue. The Company also reviews the recoverability of the property’s carrying value when circumstances indicate a possible impairment of the value of a property, expected to result from the property’s use and eventual disposition. If management determines impairment exists due to the inability to recover the carrying value of a property, an impairment loss is recorded in the Condensed Consolidated Statements of Operations to the extent that the carrying value exceeds the estimated fair value of the property for properties to be held and used and for assets held for sale, an impairment loss is recorded to the extent that the carrying value exceeds the fair value less estimated cost of disposal. The estimated fair value of the asset becomes its new cost basis and if the asset is to be held and used, the new cost basis will be depreciated or amortized over its remaining useful life.
Unconsolidated Equity Investments	Unconsolidated Equity Investments The Company accounts for substantially all of its unconsolidated equity investments under the equity method of accounting since it exercises significant influence, but does not unilaterally control the entities, and is not considered to be the primary beneficiary. In unconsolidated equity investments, the rights of the other investors are protective and participating. Unless the Company is determined to be the primary beneficiary, these rights preclude it from consolidating the investments. The investments are recorded initially at cost as unconsolidated equity investments, as applicable, and subsequently are adjusted for equity interest in net income (loss) and cash contributions and distributions. The amount of the investments on the Condensed Consolidated Balance Sheets is evaluated for impairment at each reporting period. None of the unconsolidated equity investment debt is recourse to the Company. Transactions with unconsolidated equity method entities are eliminated to the extent of the Company’s ownership in each such entity. Accordingly, the Company’s share of net income (loss) of these equity method entities is included in consolidated net income (loss). The Company’s 5.07% investment in CBRE Strategic Partners Asia, the Company’s unconsolidated equity investment described more in Note 5, is presented in the Condensed Consolidated Financial Statements at fair value. CBRE Strategic Partners Asia is an investment company that accounts for its investments at fair value with changes in the fair value of the investments recorded in the statement of operations. See the “Fair Value Measurements” section of Note 2 as well as Note 9 , “ Fair Value Measurements,” for further discussion of the fair value accounting methodology used for CBRE Strategic Partners Asia.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all highly liquid investments with maturities of three months or less when purchased to be cash equivalents.
Restricted Cash	Restricted Cash The Company had restricted cash of $166,552 and $17,354 at March 31, 2016 and December 31, 2015 , respectively, which primarily consists of proceeds from property sales held by qualified intermediaries to be used for tax-deferred, like-kind exchanges under IRC Section 1031, as well as reserves for certain capital improvements, leasing, interest and real estate tax and insurance payments as required by certain mortgage loan obligations.
Variable Interest Entities, Consolidated and Unconsolidated	Consol idated VIEs Proportion Foods In December 2015, the Company entered into a non-recourse financing arrangement with Big Proportion Austin LLC, or BIG, for a build-to-suit industrial property in Round Rock, Texas, or Proportion Foods. Concurrently, the Company entered into a forward purchase agreement with BIG, pursuant to which the Company will acquire the property, which is 100% leased to Proportion Foods, upon substantial completion of the facility’s development. The Company has determined that Proportion Foods is a VIE, as the equity holders of the entity do not have controlling financial interests and the obligation to absorb losses. The Company controls the activities that most significantly affect the economic outcome of Proportion Foods through its financing arrangement to fund the property’s development and its forward purchase agreement with BIG. As such, the Company has concluded that it is the entity’s primary beneficiary and has consolidated the VIE. The Company has a note receivable from BIG related to the financing arrangement, which is a note payable for BIG and thus eliminates upon consolidation of the VIE. The construction of the facility on the property is expected to be complete in December 2016 and the Company has committed $24,950 in financing for the construction. BIG is responsible for funding in excess of the $24,950 mortgage note. As of March 31, 2016 , the Company has funded $8,270 for the property. Gramercy Europe Asset Management (European Fund Manager) In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired equity interests in the entity, hereinafter European Fund Manager, which provides investment and asset management services to Gramercy European Property Fund. The Company has determined that European Fund Manager is a VIE, as the equity holders of that entity do not have controlling financial interests and the obligation to absorb losses. As Gramercy Europe Asset Management, through an investment advisory agreement with the VIE, controls the activities that most significantly affect the economic outcome of European Fund Manager, the Company has concluded that it is the entity’s primary beneficiary and has consolidated the VIE. European Fund Manager is expected to generate net cash inflows for the Company in the form of management fees in the future, however, if the VIE’s cash inflows are not sufficient to cover its obligations, the Company may provide financial support for the VIE. Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired equity interests in the entity, hereinafter European Fund Carry Co., entitled to receive certain preferential distributions, if any, made from time-to-time by Gramercy European Property Fund. The Company has determined that European Fund Carry Co. is a VIE, as the equity holders of that entity do not have controlling financial interests and the obligation to absorb losses. Decisions that most significantly affect the economic performance of European Fund Carry Co. are decided by a majority vote of that VIE’s shareholders. As such, the Company does not have a controlling financial interest in the VIE and has accounted for it as an equity investment. As of March 31, 2016 and December 31, 2015 , European Fund Carry Co. had net assets of $(17) and $(5) . Investment in Retained CDO Bonds The Retained CDO Bonds are non-investment grade subordinate bonds, preferred shares and ordinary shares of three collateralized debt obligations, or CDOs, which the Company recognized subsequent to the disposal of its Gramercy Finance segment, or Gramercy Finance, and exit from the commercial real estate finance business in March 2013. The Company is not obligated to provide any financial support to these CDOs. The Company’s maximum exposure to loss is limited to its interest in the Retained CDO Bonds and the Company does not control the activities that most significantly impact the VIE’s economic performance.
Assets Held For Sale and Discontinued Operations	Assets Held for Sale and Discontinued Operations As of March 31, 2016 and December 31, 2015 , the Company had one and six assets classified as held for sale, respectively, which represent legacy Chambers properties that qualified as held for sale as of the closing date of the Merger and are included within discontinued operations, in accordance with ASC 360, as these assets acquired in the Merger do not align with the Company’s investment strategy and therefore will be sold. Real estate investments to be disposed of are reported at the lower of carrying amount or estimated fair value, less costs to sell. Once an asset is classified as held for sale, depreciation and amortization expense is no longer recorded.
Tenant and Other Receivables	Tenant and Other Receivables Tenant and other receivables are derived from management fees, rental revenue and tenant reimbursements. Management fees, including incentive management fees, are recognized as earned in accordance with the terms of the management agreements. The management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets. Rental revenue is recorded on a straight-line basis over the initial term of the lease. Since many leases provide for rental increases at specified intervals, straight-line basis accounting requires the Company to record a receivable, and include in revenues, unbilled rent receivables that will only be received if the tenant makes all rent payments required through the expiration of the initial term of the lease. Tenant and other receivables also include receivables related to tenant reimbursements for common area maintenance expenses and certain other recoverable expenses that are recognized as revenue in the period in which the related expenses are incurred. Tenant and other receivables are recorded net of the allowances for doubtful accounts, which as of March 31, 2016 and December 31, 2015 were $261 and $204 , respectively. The Company continually reviews receivables related to rent, tenant reimbursements, and management fees, including incentive fees, and determines collectability by taking into consideration the tenant or asset management clients’ payment history, the financial condition of the tenant or asset management client, business conditions in the industry in which the tenant or asset management client operates and economic conditions in the area in which the property or asset management client is located. In the event that the collectability of a receivable is in doubt, the Company increases the allowance for doubtful accounts or records a direct write-off of the receivable.
Intangible Assets and Liabilities	Intangible Assets and Liabilities The Company follows the acquisition method of accounting for business combinations. The Company allocates the purchase price of acquired properties to tangible and identifiable intangible assets acquired based on their respective fair values. Tangible assets include land, buildings and improvements on an as-if vacant basis and identifiable intangible assets include amounts allocated to acquired leases for above- and below-market lease rates, the value of in-place leases, and above-market and below-market ground rent intangibles. The above- and below-market lease values are amortized as a reduction of and increase to rental revenue, respectively, over the remaining non-cancelable terms of the respective leases. The value of in-place leases is amortized to depreciation and amortization expense over the remaining non-cancelable term of the respective leases. To the extent acquired leases contain fixed rate renewal options that are below-market and determined to be material, the Company amortizes such below-market lease value into rental revenue over the renewal period. If a tenant terminates its lease prior to its contractual expiration and no future rental payments will be received, any unamortized balance of the market lease intangibles will be written off to rental revenue and any unamortized balance of the in-place lease intangibles will be written off to depreciation and amortization expense. The above- and below-market ground rent intangible values are amortized as a reduction of and increase to rent expense, respectively, over the remaining non-cancelable terms of the respective leases. If the Company terminates its lease prior to its contractual expiration and no future rent payments will be paid, any unamortized balance of the ground rent intangibles will be written off to rent expense.
Goodwill	Goodwill Goodwill represents the fair value of the collaboration expected to be achieved upon consummation of a business combination and is measured as the excess of consideration transferred over the net assets acquired at acquisition date. The Company initially recognized goodwill of $3,887 related to the acquisition of Gramercy Europe Asset Management, however during the second quarter of 2015, as a result of finalization of the purchase price allocation for the acquisition, the Company decreased the amount allocated to goodwill by $85 and thus the final purchase price allocation to goodwill as a result of the acquisition was $3,802 . The adjustment to goodwill for the finalized purchase price was primarily related to a reduction in the contract intangible value as well as an increase in the accrued income recorded for incentive fees. The carrying value of goodwill is adjusted each reporting period for the effect of foreign currency translation adjustments. The carrying value of goodwill at March 31, 2016 and December 31, 2015 was $3,477 and $3,568 , respectively. The Company’s goodwill has an indeterminate life and is not amortized, but is tested for impairment on an annual basis, or more frequently if events or changes in circumstances indicate that the asset might be impaired. The Company takes a qualitative approach to consider whether an impairment of goodwill exists prior to quantitatively determining the fair value of the reporting unit in step one of the impairment test.
Deferred Costs	Deferred Costs Deferred costs consist of deferred financing costs, deferred acquisition costs, and deferred leasing costs. Deferred costs are presented net of accumulated amortization. The Company’s deferred financing costs are comprised of costs associated with the Company’s unsecured credit facilities and include commitment fees, issuance costs, and legal and other third-party costs associated with obtaining the related financing. Deferred financing costs are amortized on a straight-line or effective interest basis over the contractual terms of the respective agreements and the amortization is reflected as interest expense. Unamortized deferred financing costs are expensed when the associated debt is refinanced or repaid before maturity. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. During the first quarter of 2016, the Company adopted accounting guidance related to the presentation of deferred financing costs on the balance sheet and reclassified amounts from the deferred costs line pertaining to debt arrangements other than its unsecured credit facilities, that were within the asset section, to instead be netted against the corresponding debt liability for all periods presented. See “Recently Issued Accounting Pronouncements” below for further discussion of the new accounting guidance for deferred financing costs. The Company’s deferred acquisition costs consist primarily of lease inducement fees paid to secure acquisitions and are amortized on a straight-line basis over the related lease term as a reduction from rental revenue. The Company’s deferred leasing costs include direct costs, such as lease commissions, incurred to initiate and renew operating leases and are amortized on a straight-line basis over the related lease term as a reduction from rental revenue.
Fair Value Measurements	Fair Value Measurements At March 31, 2016 and December 31, 2015 , the Company measured its Retained CDO Bonds, derivative instruments, and CBRE Strategic Partners Asia on a recurring basis and measured its real estate investments classified as held for sale at Merger closing on a non-recurring basis. ASC 820-10, “Fair Value Measurements and Disclosures,” among other things, establishes a hierarchical disclosure framework associated with the level of pricing observability utilized in measuring financial instruments and other assets and liabilities at fair value. Considerable judgment is necessary to interpret market data and develop estimated fair values. Accordingly, fair values are not necessarily indicative of the amounts the Company could realize on disposition of these assets and liabilities. Fair value is defined as the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date, or an exit price. The level of pricing observability generally correlates to the degree of judgment utilized in measuring the fair value of financial instruments and other assets and liabilities. The investment manager of CBRE Strategic Partners Asia applies valuation techniques for the Company’s investment carried at fair value based upon the application of the income approach, the direct market comparison approach, the replacement cost approach or third-party appraisals to the underlying assets held in the unconsolidated entity in determining the net asset value attributable to the Company’s ownership interest therein. The three broad levels defined are as follows: Level I – This level is comprised of financial instruments and other assets and liabilities that have quoted prices that are available in liquid markets for identical assets or liabilities. Level II – This level is comprised of financial instruments and other assets and liabilities for which quoted prices are available but which are traded less frequently and instruments that are measured at fair value using management’s judgment, where the inputs into the determination of fair value can be directly observed. Level III – This level is comprised of financial instruments and other assets and liabilities that have little to no pricing observability as of the reported date. These financial instruments do not have active markets and are measured using management’s best estimate of fair value, where the inputs into the determination of fair value require significant management judgment and assumptions. For a further discussion regarding fair value measurements see Note 9 , “Fair Value Measurements.”
Revenue Recognition	Revenue Recognition Real Estate Investments Rental revenue from leases on real estate investments is recognized on a straight-line basis over the term of the lease, regardless of when payments are contractually due. The excess of rental revenue recognized over the amounts contractually due according to the underlying leases are included in deferred revenue on the Condensed Consolidated Balance Sheets. For leases on properties that are under construction at the time of acquisition, the Company begins recognition of rental revenue upon completion of construction of the leased asset and delivery of the leased asset to the tenant. The Company’s lease agreements with tenants also generally contain provisions that require tenants to reimburse the Company for real estate taxes, insurance costs, common area maintenance costs, and other property-related expenses. Under lease arrangements in which the Company is the primary obligor for these expenses, such amounts are recognized as both revenues and operating expenses for the Company. Under lease arrangements in which the tenant pays these expenses directly, such amounts are not included in revenues or expenses. These reimbursement amounts are recognized in the period in which the related expenses are incurred. The Company recognizes sales of real estate properties only upon closing. Payments received from purchasers prior to closing are recorded as deposits. Profit on real estate sold is recognized using the full accrual method upon closing when the collectability of the sale price is reasonably assured and the Company is not obligated to perform significant activities after the sale. Profit may be deferred in whole or part until the sale meets the requirements of profit recognition on sale of real estate. Asset Management Business The Company’s asset and property management agreements may contain provisions for fees related to dispositions, administration of the assets including fees related to accounting, valuation and legal services, and management of capital improvements or projects on the underlying assets. The Company recognizes revenue for fees pursuant to its management agreements in the period in which they are earned. Management fees received prior to the date earned are included in deferred revenue on the Condensed Consolidated Balance Sheets. Certain of the Company’s asset management contracts include provisions that may allow it to earn additional fees, generally described as incentive fees or profit participation interests, based on the achievement of a targeted valuation of the managed assets or the achievement of a certain internal rate of return on the managed assets. The Company recognizes incentive fees on its asset management contracts based upon the amount that would be due pursuant to the contract, if the contract were terminated at the reporting date. If the contract may be terminated at will, revenue will only be recognized for the amount that would be due pursuant to that termination. If the incentive fee is a fixed amount, only a proportionate share of revenue is recognized at the reporting date, with the remaining fees recognized on a straight-line basis over the measurement period. The values of incentive management fees are periodically evaluated by management. For the three months ended March 31, 2016 , and 2015 , the Company recognized incentive fees of $973 and $3,035 , respectively. Investment and Other Income Investment income consists primarily of income accretion on the Company’s Retained CDO Bonds, which are measured at fair value on a quarterly basis using a discounted cash flow model. Other income primarily consists of interest income on servicing advances and realized foreign currency exchange gain (loss).
Stock-Based Compensation Plans	Share-Based Compensation Plans The Company has share-based compensation plans, described more fully in Note 11 . The Company accounts for share-based awards using the fair value recognition provisions. Awards of shares or restricted shares are expensed as compensation over the benefit period and may require inputs that are highly subjective and require significant management judgment and analysis to develop. The Company assumes a forfeiture rate which impacts the amount of aggregate compensation cost recognized. In accordance with the provisions of the Company’s share-based compensation plans, the Company accepts the return of shares of the Company’s common shares, at the current quoted market price to satisfy minimum statutory tax-withholding requirements related to shares that vested during the period. The Company also grants awards pursuant to its share-based compensation plans in the form of LTIP units, which are a class of limited partnership interests in the Company’s operating partnerships.
Foreign Currency	Foreign Currency Gramercy Europe Asset Management operates an asset and property management business in the United Kingdom. The Company owns one property located in the United Kingdom and has unconsolidated equity investments in Europe and Asia. The Company also has euro-denominated borrowings outstanding under the multi-currency portion of its revolving credit facility. Refer to Note 5 for more information on the Company’s foreign unconsolidated equity investments. Translation The Company has interests in the European Union and United Kingdom for which the functional currency is the euro and the British pound sterling, respectively. The Company performs the translation from the euro or the British pound sterling to the U.S. dollar for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenue and expense accounts using a weighted-average exchange rate during the period. The Company reports the gains and losses resulting from such translation as a component of other comprehensive income (loss). As of March 31, 2016 and 2015 , the Company recorded net translation gains (losses) of $6,119 and $(218) , respectively. These translation gains and losses are reclassified to earnings when the Company has substantially exited from all investments in the related currency. Transaction Gains or Losses A transaction gain or loss realized upon settlement of a foreign currency transaction will be included in earnings for the period in which the transaction is settled. Foreign currency intercompany transactions that are scheduled for settlement are included in the determination of net income. Intercompany foreign currency transactions of a long-term nature that do not have a planned or foreseeable future settlement date, in which the entities to the transactions are consolidated or accounted for by the equity method in the Company’s financial statements, are not included in net income but are reported as a component of other comprehensive income (loss). Net realized gains (losses) are recognized on foreign currency transactions in connection with the transfer of cash from or to foreign operations of subsidiaries or equity investments to the parent company.
Derivative and Non-Derivative Hedging Instruments	Derivative and Non-Derivative Hedging Instruments In the normal course of business, the Company is exposed to the effect of interest rate changes and foreign exchange rate changes. The Company limits these risks by following established risk management policies and procedures including the use of derivatives and non-derivative net investment hedges. The Company uses a variety of derivative instruments that are considered “plain vanilla” derivatives to manage, or hedge, interest rate risk. The Company enters into hedging and derivative instruments that will be maximally effective in reducing the interest rate risk and foreign currency exchange rate risk exposure that they are designated to hedge. This effectiveness is essential for qualifying for hedge accounting. Instruments that meet these hedging criteria are formally designated as hedges at the inception of the derivative contract. The Company’s derivative and non-derivative hedging instruments typically include interest rate swaps, caps, collars and floors, as well as non-derivative net investment hedges. The Company expressly prohibits the use of unconventional derivative instruments and using derivative instruments for trading or speculative purposes. Further, the Company has a policy of only entering into contracts with major financial institutions based upon their credit ratings and other factors. The Company recognizes all derivatives on the Condensed Consolidated Balance Sheets at fair value. Derivatives that are not hedges must be adjusted to fair value through income. If a derivative is a hedge, depending on the nature of the hedge, changes in the fair value of the derivative will either be offset against the change in fair value of the hedged asset, liability or firm commitment through earnings, or recognized in other comprehensive income until the hedged item is recognized in earnings. The ineffective portion of a derivative’s change in fair value will be immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and shareholders’ equity prospectively, depending on future levels of the London Interbank Offered Rate, or LIBOR, swap spreads and other variables affecting the fair values of derivative instruments and hedged items, but will have no effect on cash flows, provided the contract is carried through to full term. The Company’s non-derivative hedging instrument, the foreign currency denominated tranche of the Company’s 2015 Revolving Credit Facility, is reported at carrying value on its Condensed Consolidated Balance Sheets. As the non-derivative net investment hedge is denominated in euros, the Company translates the carrying value in euros into its functional and reporting currency of U.S. dollars at the period-ending rate and reports this value in its financial statements, with the foreign currency translation adjustment associated with the hedged net investment reported in the cumulative translation adjustment within other comprehensive income (loss). Refer to Note 10 for more information on the Company’s derivative and non-derivative hedging instruments.
Other Assets	Other Assets The Company makes payments for certain expenses such as insurance and property taxes in advance of the period in which it receives the benefit. These payments are classified as other assets and amortized over the respective period of benefit relating to the contractual arrangement. Other assets also includes deposits related to pending acquisitions and financing arrangements, as required by a seller or lender, respectively. Costs prepaid in connection with securing financing for a property are reclassified into deferred financing costs at the time the transaction is completed. Additionally, other assets includes costs of software purchased for internal use and as well as the value of contracts assumed by the Company pursuant to a business combination, such as asset or property management contracts.
Servicing Advances Receivable	Servicing Advances Receivable The Company’s servicing advances receivable consisted of its accrual for the reimbursement of servicing advances, including expenses such as legal fees and professional fees incurred while the Company was the collateral manager of the CDOs, which were recognized as part of the disposal of Gramercy Finance in March 2013.
Retained CDO Bonds	Retained CDO Bonds The Retained CDO Bonds are non-investment grade subordinate bonds, preferred shares and ordinary shares of three CDOs, which the Company recognized at fair value and retained in March 2013 subsequent to the disposal of Gramercy Finance. Management estimated the timing and amount of cash flows expected to be collected and recognized an investment in the Retained CDO Bonds equal to the net present value of these discounted cash flows. There is no guarantee that the Company will realize any proceeds from this investment, or what the timing will be for the expected remaining life of the Retained CDO Bonds. The Company considers these investments to be not of high credit quality and does not expect a full recovery of interest and principal. Therefore, the Company has suspended interest income accruals on these investments. On a quarterly basis, the Company evaluates the Retained CDO Bonds to determine whether significant changes in estimated cash flows or unrealized losses on these investments, if any, reflect a decline in value which is other-than-temporary. If there is a decrease in estimated cash flows and the investment is in an unrealized loss position, the Company will record an other-than-temporary impairment, or OTTI, in the Condensed Consolidated Statements of Operations. To determine the component of the OTTI related to expected credit losses, the Company compares the amortized cost basis of the Retained CDO Bonds to the present value of the revised expected cash flows, discounted using the pre-impairment yield. Conversely, if the security is in an unrealized gain position and there is a decrease or significant increase in expected cash flows, the Company will prospectively adjust the yield using the effective yield method.
Income Taxes	Income Taxes The Company elected to be taxed as a REIT, under Sections 856 through 860 of the Internal Revenue Code, beginning with its taxable year ended December 31, 2004. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its ordinary taxable income, to shareholders. As a REIT, the Company generally will not be subject to U.S. federal income tax on taxable income that the Company distributes to its shareholders. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes on taxable income at regular corporate rates and will not be permitted to qualify for treatment as a REIT for U.S. federal income tax purposes for four years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distributions to shareholders. However, the Company believes that it will be organized and will operate in such a manner as to qualify for treatment as a REIT and the Company intends to operate in the foreseeable future in such a manner so that it will qualify as a REIT for U.S. federal income tax purposes. The Company is subject to certain state and local taxes. The Company’s TRSs are subject to federal, state and local taxes. For the three months ended March 31, 2016 and 2015 , the Company recorded $703 and $1,114 of income tax expense, respectively. Tax expense for each year is comprised of federal, state, local, and foreign taxes. Income taxes, primarily related to the Company’s TRSs, are accounted for under the asset and liability method. Deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss carryforwards. Deferred tax assets and liabilities are measured using enacted tax rates in effect for the year in which those temporary differences are expected to be recovered or settled. A valuation allowance is provided if the Company believes it is more likely than not that all or a portion of a deferred tax asset will not be realized. Any increase or decrease in a valuation allowance is included in the tax provision when such a change occurs. The Company’s policy for interest and penalties, if any, on material uncertain tax positions recognized in the financial statements is to classify these as interest expense and operating expense, respectively.
Earnings Per Share	Earnings Per Share The Company presents both basic and diluted earnings per share, or EPS. Basic EPS excludes dilution and is computed by dividing net income available to vested common shareholders by the weighted average number of vested common shares outstanding during the period. The Company has adopted the two-class computation method, and thus includes all participating securities in the computation of basic shares for the periods in which the Company has net income avail a ble to vested common shares outstanding. Diluted EPS reflects the potential dilution that could occur if securities or other contracts to issue common shares were exercised or converted into common shares, as long as their inclusion would not be anti-dilutive. Refer to Note 11 for further discussion of the computation of EPS.
Concentrations of Credit Risk	Concentrations of Credit Risk Financial instruments that potentially subject the Company to concentrations of credit risk consist primarily of cash investments, debt investments and accounts receivable. The Company places its cash investments in excess of insured amounts with high quality financial institutions. Concentrations of credit risk also arise when a number of the Company’s tenants or asset management clients are engaged in similar business activities or are subject to similar economic risks or conditions that could cause their inability to meet contractual obligations to the Company. The Company regularly monitors its portfolio to assess potential concentrations of credit risk.
Use of Estimates	Use of Estimates The preparation of financial statements in conformity with Generally Accepted Accounting Principles, or GAAP, requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.
Reclassification	Reclassifications Certain prior year amounts have been reclassified to conform to the current year presentation. During the first quarter of 2016, the Company adopted ASU 2015-03, Simplifying the Presentation of Debt Issuances Costs, which requires the Company to reclassify debt financing costs, which were previously accounted for on the deferred costs line within the asset section, and present them in the balance sheet as a direct deduction from the carrying amount of the corresponding debt liability, with the exception of deferred financing costs associated with the credit facility which remain in deferred costs in the asset section on the Condensed Consolidated Balance Sheets. Deferred financing costs totaling $6,389 have been reclassified in the December 31, 2015 Condensed Consolidated Balance Sheet from the deferred costs line and netted against the corresponding debt liability. See “Recently Issued Accounting Pronouncements” below for further discussion of the new accounting guidance for deferred financing costs.
Recently Issued Accounting Pronouncements	Recently Issued Accounting Pronouncements In May 2014, the Financial Accounting Standards Board, or FASB, issued ASU 2014-09, Revenue from Contracts with Customers, which creates a new Topic ASC 606, Revenue from Contracts with Customers. The core principle of the new guidance is that an entity should recognize revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. Additionally, the guidance requires increased disclosures related to revenue recognition. The update was originally effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, with early adoption not permitted. In August 2015, the FASB issued ASU 2015-14, Revenue from Contracts with Customers, which deferred the effective date so that it is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with early adoption only permitted as of annual reporting periods beginning after December 15, 2016, including interim reporting periods within that reporting period. The Company will appropriately adopt and apply the guidance retrospectively for its fiscal year ended December 31, 2018 and the interim periods within that year. The Company is currently evaluating the guidance to determine the impact it may have on its Condensed Consolidated Financial Statements. In February 2015, the FASB issued ASU 2015-02, Amendments to the Consolidation Analysis, which amends the current consolidation guidance, including introducing a separate consolidation analysis specific to limited partnerships and other similar entities. Under this analysis, limited partnerships and other similar entities will be considered a VIE unless the limited partners hold substantive kick-out rights or participating rights. The guidance is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. The Company adopted this guidance during the first quarter of 2016, which did not result in changes to the Company’s conclusions regarding consolidation of applicable entities. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs, which serves to simplify the presentation of debt issuance costs in a company’s financial statements. The amendments in the update require that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that liability. The update is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. In August 2015, the FASB issued ASU 2015-15, Interest – Imputation of Interest, which allows an entity to present the debt issuance costs from a line-of-credit arrangement as an asset. The Company adopted this guidance during the first quarter of 2016 and reclassified amounts in each period presented. The adoption of this guidance did not have a material impact on the Company’s Condensed Consolidated Financial Statements as the update relates only to changes in financial statement presentation. See the “Reclassification” section above for further details on the adoption of this guidance. In April 2015, the FASB issued ASU 2015-05, Intangibles – Goodwill and Other – Internal-Use Software: Customer’s Accounting for Fees Paid in a Cloud Computing Arrangement. The update requires companies to account for the software license element of a cloud computing arrangement consistent with the acquisition of other software licenses and other licenses of intangible assets. The update is effective for annual and interim periods beginning after December 15, 2015, with early adoption permitted. The Company adopted this guidance during the first quarter of 2016. The adoption of this guidance did not have a material impact on the Company’s Condensed Consolidated Financial Statements. In February 2016, the FASB issued ASU 2016-02, Leases, which amends the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. The update will be effective beginning in the first quarter of 2019 and early adoption is permitted. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its Condensed Consolidated Financial Statements. In March 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting. The update serves to simplify the accounting for share-based payment award transactions, including income tax consequences, classification of awards as either equity or liabilities, and classification of awards on the statement of cash flows. The guidance in the ASU is effective for fiscal years beginning after December 15, 2016, including interim periods within those fiscal years, with early adoption permitted for any interim or annual period. The Company has not elected early adoption of the amendments in the updates and expects that the new guidance will not have a material impact on its Condensed Consolidated Financial Statements.

Business and Organization (Tabl

Business and Organization (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Real Estate Properties	As of March 31, 2016 , the Company’s wholly-owned portfolio of net leased properties is summarized as follows: Property Type Number of Properties Rentable Square Feet Occupancy Industrial 154 34,384,245 98.4 % Office 113 9,865,700 98.8 % Specialty retail 9 1,187,258 100.0 % Total 276 45,437,203 98.5 %

Significant Accounting Polici27

Significant Accounting Policies (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of Intangible Assets and Acquired Lease Obligations	Intangible assets and liabilities consist of the following: March 31, 2016 December 31, 2015 Intangible assets: In-place leases, net of accumulated amortization of $75,613 and $49,125 $ 550,230 $ 644,540 Above-market leases, net of accumulated amortization of $8,879 and $5,051 75,614 94,202 Below-market ground rent, net of accumulated amortization of $179 and $147 5,204 5,236 Amounts related to assets held for sale, net of accumulated amortization of $0 — (61,804 ) Total intangible assets $ 631,048 $ 682,174 Intangible liabilities: Below-market leases, net of accumulated amortization of $21,068 and $16,934 $ 234,617 $ 255,452 Above-market ground rent, net of accumulated amortization of $172 and $149 3,498 3,522 Amounts related to liabilities of assets held for sale, net of accumulated amortization of $0 — (16,518 ) Total intangible liabilities $ 238,115 $ 242,456
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table provides the weighted-average amortization period as of March 31, 2016 for intangible assets and liabilities and the projected amortization expense for the next five years. Weighted-Average Amortization Period April 1 to December 31, 2016 2017 2018 2019 2020 In-place leases 9.5 $ 75,472 $ 86,996 $ 74,517 $ 61,701 $ 49,432 Total to be included in depreciation and amortization expense $ 75,472 $ 86,996 $ 74,517 $ 61,701 $ 49,432 Above-market lease assets 7.5 $ 11,295 $ 13,173 $ 11,553 $ 9,987 $ 7,557 Below-market lease liabilities 20.3 (12,380 ) (13,071 ) (12,768 ) (12,517 ) (12,250 ) Total to be included in rental revenue $ (1,085 ) $ 102 $ (1,215 ) $ (2,530 ) $ (4,693 ) Below-market ground rent 42.1 $ 95 $ 127 $ 127 $ 127 $ 127 Above-market ground rent 37.3 (70 ) (94 ) (94 ) (94 ) (94 ) Total to be included in property operating expense $ 25 $ 33 $ 33 $ 33 $ 33
Schedule of Variable Interest Entities	he following is a summary of the Company’s involvement with VIEs as of March 31, 2016 : Company carrying value-assets Company carrying value-liabilities Face value of assets held by the VIEs Face value of liabilities issued by the VIEs Assets Consolidated VIEs Operating partnerships $ 5,348,309 $ 2,488,630 $ 5,348,309 $ 2,488,630 Proportion Foods $ 8,329 $ 550 $ 8,329 $ 8,820 Gramercy Europe Asset Management (European Fund Manager) $ 276 $ 1,029 $ 276 $ 1,029 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 11 $ 28 Retained CDO Bonds $ 8,786 $ — $ 1,202,885 $ 1,197,539 The following is a summary of the Company’s involvement with VIEs as of December 31, 2015 : Company carrying value-assets Company carrying value-liabilities Face value of assets held by the VIEs Face value of liabilities issued by the VIEs Assets Consolidated VIEs Proportion Foods $ 7,949 $ 16 $ 7,949 $ 8,183 Gramercy Europe Asset Management (European Fund Manager) $ 334 $ 832 $ 334 $ 832 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 11 $ 16 Retained CDO Bonds $ 7,471 $ — $ 1,382,373 $ 1,282,583
Schedule of Retained Collateralized Debt Obligation Bonds	A summary of the Company’s Retained CDO Bonds as of March 31, 2016 is as follows: Description Number of Securities Face Value Amortized Cost Gross Unrealized Gain Other-than-temporary impairment Fair Value Weighted Average Expected Life Available for Sale, Non- investment Grade: Retained CDO Bonds 9 $ 376,972 $ 6,842 $ 1,944 $ — $ 8,786 2.5 Total 9 $ 376,972 $ 6,842 $ 1,944 $ — $ 8,786 2.5
Other Than Temporary Impairment Credit Losses Recognized in Earnings	The following table summarizes the activity related to credit losses on the Retained CDO Bonds for the three month period ended March 31, 2016 and for the year ended December 31, 2015 : 2016 2015 Balance as of January 1, 2016 and January 1, 2015, respectively of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income $ 3,196 $ 6,818 Additions to credit losses: — — On Retained CDO Bonds for which an OTTI was not previously recognized — — On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an OTTI was recognized in other comprehensive income — — On Retained CDO Bonds for which an OTTI was previously recognized without any portion of OTTI recognized in other comprehensive income — — Reduction for credit losses: — — On Retained CDO Bonds for which no OTTI was recognized in other comprehensive income at current measurement date — — On Retained CDO Bonds sold during the period — — On Retained CDO Bonds charged off during the period — — For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds (1,524 ) (3,622 ) Balance as of March 31, 2016 and December 31, 2015, respectively, of credit losses on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income $ 1,672 $ 3,196

Dispositions, Assets Held for28

Dispositions, Assets Held for Sale, and Discontinued Operations (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations	The following table summarizes the assets held for sale and liabilities related to the assets held for sale as of March 31, 2016 and December 31, 2015 : Assets held for sale March 31, 2016 December 31, 2015 Real estate investments $ 10,522 $ 348,582 Acquired lease assets — 61,804 Other assets 26 10,099 Total assets 10,548 420,485 Liabilities related to assets held for sale Mortgage notes payable, net — 260,704 Below-market lease liabilities — 16,518 Other liabilities 376 14,142 Total liabilities 376 291,364 Net assets held for sale $ 10,172 $ 129,121
Schedule of Operating Results Of Assets held for sale Including in Discontinued Operations	The following operating results for Gramercy Finance, the assets previously sold and the assets that were assumed in the Merger and simultaneously designated as held for sale for the three months ended March 31, 2016 and 2015 are included in discontinued operations for all periods presented: Three Months Ended March 31, 2016 2015 Operating Results: Revenues $ 5,857 $ (100 ) Operating expenses (2,180 ) 210 General and administrative expense (12 ) (172 ) Interest expense (955 ) — Gain on extinguishment of debt 1,930 — Net income (loss) from discontinued operations $ 4,640 $ (62 )
Schedule of Significant Operating and Investing Noncash Items	The table below presents additional relevant information pertaining to results of discontinued operations for the three months ended March 31, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Three Months Ended March 31, 2016 2015 Significant operating noncash items $ (9,455 ) $ — Increase in cash and cash equivalents related to foreign currency translation 275 — Total $ (9,180 ) $ — The following table represents supplemental cash flow disclosures for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 20,638 $ 5,769 Income taxes paid 322 167 Proceeds from 1031 exchanges from sale of real estate 175,808 — Use of funds from 1031 exchanges for acquisitions of real estate (30,308 ) — Non-cash activity: Fair value adjustment to noncontrolling interest in the operating partnership $ 1,207 $ 350 Debt assumed in acquisition of real estate — 141,033 Debt transferred in disposition of real estate (101,432 ) — Redemption of units of noncontrolling interest in the operating partnership for common shares (524 ) (2,631 ) Non-cash activities recognized in other comprehensive income: Deferred losses and other non-cash activity related to derivatives $ (22,189 ) $ (2,132 ) Change in net unrealized loss on securities available for sale 934 5,750 Non-cash effect of foreign currency translation adjustments 6,119 (218 )

Real Estate Investments (Tables

Real Estate Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Business Combinations [Abstract]
Schedule of Business Acquisitions, by Acquisition	During the three months ended March 31, 2016 , the Company’s property acquisitions are summarized as follows: Property Type Number of Properties Purchase Price Industrial 3 621,646 $ 52,750 Total 3 621,646 $ 52,750 During the year ended December 31, 2015 , the Company’s property acquisitions are summarized as follows: Property Type (1) Number of Properties Square Feet Purchase Price Industrial (2) 95 23,972,916 $ 1,561,828 Office (2) 53 8,496,686 1,864,235 Specialty retail 10 1,330,544 300,500 Total 158 33,800,146 $ 3,726,563 (1) Includes 104 properties acquired as part of the Merger, of which 60 were industrial properties that comprise 17,355,358 square feet and 44 were office properties that comprise 7,205,381 square feet. (2) The Company assumed mortgages on 17 of its property acquisitions in 2015. The unpaid principal value of the mortgages assumed at acquisition was $153,877 . Additionally, the Company assumed 30 mortgages in connection with 29 properties acquired as part of the Merger in 2015. The unpaid principal value of the mortgages assumed with the Merger was $464,292 , of which $254,291 was classified as held for sale upon closing of the Merger. Refer to Note 6 for more information on the Company’s debt obligations related to acquisitions. The aggregate changes from the preliminary purchase price allocations to the finalized purchase price allocations, in accordance with ASU 2015-16, which the Company adopted in the third quarter of 2015, are shown in the table below: Preliminary Allocations recorded Finalized Allocations recorded Period Finalized Number of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Real Estate Assets Intangible Assets Intangible Liabilities Increase (Decrease) to Rental Revenue (Increase) Decrease to Depreciation and Amortization Expense Three Months Ended March 31, 2016 5 $ 63,309 $ 2,084 $ 184 $ 56,656 $ 8,553 $ — $ (18 ) $ 13 Year Ended December 31, 2015 (1) 141 $ 1,373,360 $ 320,066 $ 81,961 $ 1,535,763 $ 302,083 $ 226,381 $ 2,307 $ (205 ) (1) Allocations for the year ended December 31, 2015 include the 67 properties acquired as part of the Bank of America Portfolio. The initial recording of the assets is summarized as follows: Preliminary Allocations recorded Period of Acquisition Number of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Year Ended December 31, 2015 (1) 10 $ 259,093 $ — $ — (1) Allocations exclude the 104 properties acquired as part of the Merger Portfolio, which are separately disclosed below in the section, “Merger with Chambers.” Additionally, allocations include real estate assets of $7,947 for Proportion Foods, a consolidated VIE. Refer to Note 2 for more information on Proportion Foods.
Business Acquisition, Pro Forma Information	The table includes pro forma operating results for the assets acquired in the Merger. Three Months Ended March 31, 2016 2015 Pro forma revenues $ 112,243 $ 119,034 Pro forma net income available to common shareholders (1) $ (7,558 ) $ 8,910 Pro forma income per common share-basic $ (0.02 ) $ 0.06 Pro forma income per common share-diluted $ (0.02 ) $ 0.06 Pro forma common shares-basic 420,181,216 149,937,452 Pro forma common share-diluted 420,181,216 155,132,478 (1) Net income for each period has been adjusted for acquisition costs related to the property acquisitions during the period.
Schedule of Preliminary Purchase Price Allocations Acquired Assets and Liabilities	The following table summarizes the preliminary purchase price allocation, which represents the current best estimate of acquisition date fair values of the assets acquired and liabilities assumed: Assets Investments: Land $ 261,514 Buildings and improvements 1,651,462 Net investments 1,912,976 Cash and cash equivalents 24,687 Restricted cash 8,990 Unconsolidated equity investments 556,232 Tenant and other receivables, net 10,885 Acquired lease assets 387,988 Deferred costs and other assets 5,002 Assets held for sale $ 418,115 Total assets $ 3,324,875 Liabilities Mortgage notes payable $ 218,945 Revolving credit facilities and term loans 860,000 Below-market lease liabilities 40,593 Accounts payable, accrued expenses, and other liabilities 87,106 Liabilities related to assets held for sale 288,990 Total liabilities $ 1,495,634 Estimated fair value of net assets acquired $ 1,829,241

Unconsolidated Equity Investm30

Unconsolidated Equity Investments (Tables)	3 Months Ended
	Mar. 31, 2016
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Equity Method Investments	As of March 31, 2016 and December 31, 2015 , the Company owned properties through unconsolidated equity investments and had investment interests in these unconsolidated entities as follows: As of March 31, 2016 As of December 31, 2015 Investment Ownership % Voting Interest % Partner Investment in Unconsolidated Equity Investment (1) Number of Properties Investment in Unconsolidated Equity Investment (1) Number of Properties Gramercy European Property Fund (2) 19.8 % 19.8 % Various $ 26,228 15 $ 23,381 12 Philips Joint Venture 25.0 % 25.0 % Various — 1 — 1 Duke Joint Venture 80.0 % 50.0 % Duke Realty 291,324 9 352,932 13 Goodman Europe Joint Venture 80.0 % 50.0 % Goodman Group 163,884 9 158,863 9 Goodman UK Joint Venture 80.0 % 50.0 % Goodman Group 38,096 3 36,698 3 CBRE Strategic Partners Asia 5.07 % 5.07 % Various 5,126 2 5,508 2 Morristown Joint Venture 50.0 % 50.0 % 21 South Street 2,611 1 2,618 1 Total $ 527,269 40 $ 580,000 41 (1) The amounts presented include basis differences of $101,236 , $38,651 and $6,140 , net of accumulated amortization, for the Duke Joint Venture, Goodman Europe Joint Venture, and Goodman UK Joint Venture, respectively, as of March 31, 2016. The amounts presented include basis differences of $136,198 , $37,371 , and $6,578 , net of accumulated amortization, for the Duke Joint Venture, Goodman Europe Joint Venture, and Goodman UK Joint Venture, respectively, as of December 31, 2015. (2) Includes European Fund Carry Co., which has a carrying value of $(7) and $0 for the Company’s 25% interest as of March 31, 2016 and December 31, 2015, respectively.
Summary Investment Holdings	The following is a summary of the Company’s unconsolidated equity investments for the three months ended March 31, 2016 : Unconsolidated Equity Investments Balance as of December 31, 2015 $ 580,000 Contributions to unconsolidated equity investments 2,471 Equity in net loss of unconsolidated equity investments, including adjustments for basis differences (2,755 ) Other comprehensive income of unconsolidated equity investments 7,576 Distributions from unconsolidated equity investments (57,368 ) Purchase price allocation adjustments (2,655 ) Balance as of March 31, 2016 $ 527,269
Schedule of Combined Balance Sheet for the Company's Joint Venture	The Condensed Consolidated Balance Sheets for the Company’s unconsolidated equity investments at March 31, 2016 are as follows: As of March 31, 2016 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund CBRE Strategic Partners Asia Other (1) Total Assets: Real estate assets, net (2) $ 342,437 $ 41,011 $ 287,922 $ 282,178 $ 109,554 $ 50,423 $ 1,113,525 Other assets 25,138 6,122 40,106 58,861 9,337 3,390 142,954 Total assets $ 367,575 $ 47,133 $ 328,028 $ 341,039 $ 118,891 $ 53,813 $ 1,256,479 Liabilities and members’ equity: Mortgages payable $ 12,992 $ — $ 127,137 $ 170,431 $ — $ 40,127 $ 350,687 Other liabilities 6,329 1,049 5,676 38,074 13,948 3,839 68,915 Total liabilities 19,321 1,049 132,813 208,505 13,948 43,966 419,602 Gramercy Property Trust equity 291,324 38,096 163,884 26,235 5,126 2,604 527,269 Other members’ equity 56,930 7,988 31,331 106,299 99,817 7,243 309,608 Liabilities and members’ equity $ 367,575 $ 47,133 $ 328,028 $ 341,039 $ 118,891 $ 53,813 $ 1,256,479 (1) Includes Philips Joint Venture, Morristown Joint Venture, and European Fund Carry Co. (2) Includes REIT basis adjustments that were recorded by the Company to adjust the unconsolidated equity investments to fair value upon closing of the Merger. The Condensed Consolidated Balance Sheets for the Company’s unconsolidated equity investments at December 31, 2015 are as follows: As of December 31, 2015 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund CBRE Strategic Partners Asia Other (1) Total Assets: Real estate assets, net (2) $ 443,313 $ 42,584 $ 276,925 $ 236,312 $ 109,554 $ 50,698 $ 1,159,386 Other assets 32,739 3,427 42,139 39,983 9,337 15,954 143,579 Total assets $ 476,052 $ 46,011 $ 319,064 $ 276,295 $ 118,891 $ 66,652 $ 1,302,965 Liabilities and members’ equity: Mortgages payable $ 56,105 $ — $ 121,350 $ 143,616 $ — $ 40,424 $ 361,495 Other liabilities 6,035 1,783 8,622 14,581 13,948 16,540 61,509 Total liabilities 62,140 1,783 129,972 158,197 13,948 56,964 423,004 Gramercy Property Trust equity 352,932 36,698 158,863 23,385 5,508 2,614 580,000 Other members’ equity 60,980 7,530 30,229 94,713 99,435 7,074 299,961 Liabilities and members’ equity $ 476,052 $ 46,011 $ 319,064 $ 276,295 $ 118,891 $ 66,652 $ 1,302,965 (1) Includes Philips Joint Venture, Morristown Joint Venture, and European Fund Carry Co. (2) Includes REIT basis adjustments that were recorded by the Company to adjust the unconsolidated equity investments to fair value upon closing of the Merger.
Schedule of Combined Income Statement for the Company's Joint Venture	The Condensed Consolidated Statements of Operations for the unconsolidated equity investments for the three months ended March 31, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Three Months Ended March 31, 2016 For the Three Months Ended March 31, 2015 Duke Joint Venture Goodman UK Joint Venture Goodman Europe Joint Venture Gramercy European Property Fund Other (1) Total Total (2) Revenues $ 10,536 $ 4,284 $ 6,121 $ 5,057 $ 301 $ 26,299 $ 959 Operating expenses 2,991 287 862 502 712 5,354 541 Acquisition expenses — — — 666 — 666 — Interest expense 436 — 923 927 729 3,015 522 Depreciation and amortization 3,729 750 2,290 2,345 333 9,447 313 Total expenses 7,156 1,037 4,075 4,440 1,774 18,482 1,376 Net income (loss) from operations 3,380 3,247 2,046 617 (1,473 ) 7,817 (417 ) Loss on derivatives — — — (3,814 ) — (3,814 ) — Loss on extinguishment of debt (7,962 ) — — — — (7,962 ) Net gain on disposals 38,535 — — — — 38,535 — Provision for taxes — — — (315 ) — (315 ) — Net income (loss) $ 33,953 $ 3,247 $ 2,046 $ (3,512 ) $ (1,473 ) $ 34,261 $ (417 ) Company’s share in net income (loss) $ 27,162 $ 2,597 $ 1,637 $ (695 ) $ (79 ) $ 30,622 (1 ) Adjustments for REIT basis (32,621 ) (270 ) (486 ) — — (33,377 ) — Company’s equity in net income (loss) within continuing operations $ (5,459 ) $ 2,327 $ 1,151 $ (695 ) $ (79 ) $ (2,755 ) $ (1 ) (1) Includes Philips Joint Venture, Morristown Joint Venture, European Fund Carry Co., and CBRE Strategic Partners Asia. (2) Represents the Gramercy European Property Fund and the Philips Joint Venture.
Schedule of Long-term Debt	The following is a summary of the secured financing arrangements within the Company’s unconsolidated equity investments as of March 31, 2016 : Outstanding Balance (2) Property Unconsolidated Equity Investment Ownership % Interest Rate (1) Maturity Date March 31, 2016 December 31, 2015 Graben (3) Goodman Europe Joint Venture 80.0% 2.39% 7/27/2017 $ 35,392 $ 33,781 Koblenz Goodman Europe Joint Venture 80.0% 2.27% 12/12/2017 36,132 34,486 Durrholz Gramercy European Property Fund 19.8% 1.20% 3/31/2020 13,451 12,937 Venray Gramercy European Property Fund 19.8% 3.00% 12/2/2020 14,189 13,578 Bodenheim Goodman Europe Joint Venture 80.0% 3.01% 11/25/2020 12,882 12,296 Bremen Goodman Europe Joint Venture 80.0% 3.01% 11/25/2020 13,428 12,817 Lille Goodman Europe Joint Venture 80.0% 3.13% 12/17/2020 29,304 27,970 Carlisle Gramercy European Property Fund 19.8% 2.84% 2/19/2021 12,152 — Lake Forest Duke Joint Venture 80.0% 5.00% 8/1/2021 8,781 8,823 Tampa Duke Joint Venture 80.0% 5.00% 9/1/2021 4,211 4,231 Rotterdam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,338 — Uden Gramercy European Property Fund 19.8% 1.10% 12/30/2022 9,745 9,331 Strykow Gramercy European Property Fund 19.8% 1.10% 12/30/2022 20,954 20,063 Piaseczno Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,900 8,522 Juchen Gramercy European Property Fund 19.8% 1.10% 12/30/2022 20,627 19,750 Breda Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,142 7,796 Berlin Gramercy European Property Fund 19.8% 1.10% 12/30/2022 12,307 11,783 Potsdam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 9,514 9,109 Kerkade Gramercy European Property Fund 19.8% 1.10% 12/30/2022 10,529 10,081 Zaandam Gramercy European Property Fund 19.8% 1.10% 12/30/2022 12,744 12,203 Oud-Beijerland Gramercy European Property Fund 19.8% 1.10% 12/30/2022 8,838 8,463 Philips Philips Joint Venture 25.0% 6.90% 9/11/2035 40,127 40,424 Weston Pointe (4) Duke Joint Venture 80.0% N/A N/A — 43,051 Total $ 350,687 $ 361,495 (1) Represents the current interest rate as of March 31, 2016 . (2) Mortgage loans amounts are presented at 100% of the amount in the unconsolidated equity investment. (3) Represents two properties under this mortgage loan. (4) Represents four properties under this mortgage loan, which were sold during the three months ended March 31, 2016.

Debt Obligations (Tables)

Debt Obligations (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	The following is a summary of the Company’s secured financing arrangements as of March 31, 2016 : Property Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 Wilson 5.33% 10/1/2016 $ 8,545 $ 8,603 Arrowood 5.57% 11/11/2016 13,025 13,025 Point West I - Swapped to Fixed 3.41% 12/6/2016 10,310 10,391 Buford 7.46% 7/1/2017 15,840 15,947 100 Tice Blvd 5.97% 9/15/2017 18,179 18,340 100 Tice Blvd 5.97% 9/15/2017 18,180 18,341 4701 Gold Spike Drive (3) 4.45% 3/1/2018 9,701 9,754 1985 International Way (3) 4.45% 3/1/2018 6,741 6,777 3660 Deerpark Boulevard (3) 4.45% 3/1/2018 6,968 7,006 Tolleson Commerce Park II (3) 4.45% 3/1/2018 4,190 4,213 20000 S. Diamond Lake Road (3) 4.45% 3/1/2018 6,103 6,136 Ames (7) 5.53% 5/1/2018 16,785 16,900 Atrium I - Swapped to Fixed 3.78% 5/31/2018 20,410 20,644 Greenwood 3.28% 6/15/2018 7,567 7,610 Mt. Comfort 3.28% 6/15/2018 6,116 6,150 Blue Grass 4.28% 1/1/2019 12,605 12,696 Easton III - Swapped to Fixed 3.95% 1/31/2019 6,048 6,094 Fairforest Bldg. 6 5.42% 6/1/2019 1,307 1,398 North Rhett I 5.65% 8/1/2019 1,363 1,486 Lawrence 4.00% 1/1/2020 21,219 21,371 Kings Mountain II 5.47% 1/1/2020 2,702 2,859 Irving 5.46% 7/1/2020 21,730 21,800 Parsippany 5.46% 7/1/2020 14,879 14,926 Plantation (6) 5.46% 7/1/2020 17,635 17,692 Commerce 5.46% 7/1/2020 8,108 8,134 Redondo Beach 5.46% 7/1/2020 9,324 9,354 El Segundo 5.46% 7/1/2020 15,406 15,455 Richfield 5.46% 7/1/2020 7,906 7,931 Richardson 5.46% 7/1/2020 3,243 3,254 Houston (5) 5.46% 7/1/2020 17,352 17,407 Aurora 5.46% 7/1/2020 2,068 2,074 Dixon 5.46% 7/1/2020 8,108 8,134 1 Rocket Road 6.60% 8/1/2020 18,000 18,108 North Rhett II 5.20% 10/1/2020 1,155 1,210 Mount Holly Bldg. 5.20% 10/1/2020 1,155 1,210 Orangeburg Park Bldg. 5.20% 10/1/2020 1,174 1,230 Kings Mountain I 5.27% 10/1/2020 1,001 1,049 Des Plaines 5.25% 10/31/2020 2,519 2,537 Waco - Swapped to Fixed 4.55% 12/19/2020 15,410 15,485 Ten Parkway North 4.75% 1/1/2021 11,060 11,145 Union Cross Bldg. II 5.53% 6/1/2021 4,803 4,998 Union Cross Bldg. I 5.50% 7/1/2021 1,583 1,647 Yuma 5.15% 12/6/2023 12,200 12,247 Allentown 5.07% 1/6/2024 23,352 23,443 Fairforest Bldg. 5 6.33% 2/1/2024 6,874 7,040 Property Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 North Rhett IV 5.80% 2/1/2025 7,126 7,277 Hackettstown 5.15% 3/6/2026 9,550 — Hutchins 6.95% 6/1/2029 23,597 23,870 70 Hudson Street (2), (4) N/A N/A — 112,000 90 Hudson Street (4) N/A N/A — 101,726 The Landings I (4) N/A N/A — 14,896 The Landings II (4) N/A N/A — 13,139 McAuley Place (4) N/A N/A — 12,485 Norman Pointe I N/A N/A — 19,824 Norman Pointe II N/A N/A — 21,825 Total mortgage notes payable 480,222 770,293 Plus net deferred financing costs and net debt premium (8) 11,138 20,633 Total mortgage notes payable, net 491,360 790,926 Total mortgage notes payable, net on assets held for sale — (260,704 ) Total mortgage notes payable, net $ 491,360 $ 530,222 (1) Represents the current interest rate as of March 31, 2016 , including the swapped interest rate for loans that have interest rate swaps. The current interest rate is not adjusted to include the amortization of fair market value premiums or discounts. (2) In accordance with the provisions of this loan, the property’s excess cash proceeds after the payment of debt service, impounds and budgeted operating expenses were held by the lender. In January 2016, the loan was paid in full. (3) These five mortgage loans are cross-collateralized. (4) These mortgage loans were related to properties that were classified as held for sale as of December 31, 2015, and accordingly the mortgage loans were included within liabilities related to assets held for sale on the Consolidated Balance Sheet as of December 31, 2015. These properties were sold during the three months ended March 31, 2016. (5) Represents four properties under this mortgage loan. (6) Represents two properties under this mortgage loan. (7) As of March 31, 2016, due to non-renewal of the tenant’s lease, the lender has imposed a “cash trap” on this property. As a result, cash flows from the property will automatically be directed to the lender to satisfy required debt service payments, fund reserves required by the mortgage, and fund additional cash reserves for future required payments, including final payment, until the property’s leasing condition is cured. (8) During the first quarter of 2016, the Company adopted accounting guidance related to the presentation of deferred financing costs on the balance sheet and reclassified amounts from the deferred costs line to net against the liability for all periods presented, including for mortgage notes payable, as shown here. See Note 2, “Summary of Significant Accounting Policies,” for further information.
Schedule of Line of Credit Facilities	The terms of the Company’s unsecured revolving credit facility and term loans, as well as outstanding balances as of March 31, 2016 and December 31, 2015 , are set forth in the table below: Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance March 31, 2016 December 31, 2015 2015 Revolving Credit Facility - USD tranche 1.70 % 1.70 % 1/8/2020 $ 100,000 $ 275,000 2015 Revolving Credit Facility - Multicurrency tranche 1.20 % 1.20 % 1/8/2020 22,760 21,724 3-Year Term Loan 1.85 % 1.85 % 1/8/2019 300,000 300,000 5-Year Term Loan 1.85 % 2.95 % 1/8/2021 750,000 750,000 7-Year Term Loan 2.19 % 3.57 % 1/9/2023 175,000 175,000 Total Unsecured Revolving Credit and Term Loan Facilities $ 1,347,760 $ 1,521,724 (1) Represents the rate at which interest expense is recorded for financial reporting purposes, which reflects the effect of the interest rate swaps, excluding debt issuance costs.
Schedule of Maturities of Long-term Debt	Combined aggregate principal maturities of the Company’s unsecured debt obligations, non-recourse mortgages, and Exchangeable Senior Notes, in addition to associated interest payments, as of March 31, 2016 are as follows: 2015 Revolving Credit Facility Term Loans Mortgage Notes Payable Senior Unsecured Notes Exchangeable Senior Notes Interest Payments Total April 1 to December 31, 2016 $ — $ — $ 43,429 $ — $ — $ 47,739 $ 91,168 2017 — — 65,215 — — 62,306 127,521 2018 — — 92,589 — — 60,263 152,852 2019 — 300,000 28,836 — 115,000 51,631 495,467 2020 122,760 — 174,103 — — 44,519 341,382 Thereafter — 925,000 76,050 150,000 — 58,373 1,209,423 Above market interest — — — — — 2,278 2,278 Total $ 122,760 $ 1,225,000 $ 480,222 $ 150,000 $ 115,000 $ 327,109 $ 2,420,091

Leasing Agreements (Tables)

Leasing Agreements (Tables)	3 Months Ended
	Mar. 31, 2016
Leases, Operating [Abstract]
Schedule of Future Minimum Rental Payments for Lease Agreements	Future minimum rental revenues under non-cancelable leases excluding reimbursements for operating expenses as of March 31, 2016 are as follows: Operating Leases April 1 to December 31, 2016 $ 253,796 2017 331,621 2018 315,992 2019 293,720 2020 260,728 Thereafter 1,421,528 Total minimum lease rental income $ 2,877,385

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Carrying Value and Fair Value of Financial Instruments	The following table presents the carrying value in the financial statements and approximate fair value of assets and liabilities measured on a recurring and non-recurring basis at March 31, 2016 and December 31, 2015 : March 31, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Retained CDO Bonds (1) $ 8,786 $ 8,786 $ 7,471 $ 7,471 Investment in CBRE Strategic Partners Asia $ 5,126 $ 5,126 $ 5,508 $ 5,508 Real estate investments classified as held for sale at Merger closing (4) $ 10,522 $ 10,522 $ 393,984 $ 393,984 Financial liabilities: Derivative instruments $ 27,461 $ 27,461 $ 3,442 $ 3,442 Long-term debt Revolving credit facilities (2) $ 122,760 $ 123,294 $ 296,724 $ 297,394 3-Year Term Loan (2) $ 300,000 $ 300,304 $ 300,000 $ 300,349 5-Year Term Loan (2) $ 750,000 $ 751,223 $ 750,000 $ 751,304 7-Year Term Loan (2) $ 175,000 $ 175,024 $ 175,000 $ 175,338 Mortgage notes payable (2), (3) $ 480,222 $ 506,215 $ 770,293 $ 805,590 Senior Unsecured Notes (2) $ 150,000 $ 156,254 $ 100,000 $ 100,528 Exchangeable Senior Notes (2) $ 107,205 $ 117,069 $ 109,394 $ 115,524 (1) Retained CDO Bonds represent the CDOs’ subordinate bonds, preferred shares, and ordinary shares, which were retained subsequent to the disposal of Gramercy Finance and were previously eliminated in consolidation. (2) Long-term debt instruments are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions. (3) Amounts include mortgage notes payable on assets held for sale as of December 31, 2015, which had total carrying value of $260,704 and total fair value of $263,308 as of December 31, 2015. There were no mortgage notes payable on assets held for sale as of March 31, 2016. (4) Amounts include one and six real estate investments as of March 31, 2016 and December 31, 2015, respectively, classified as held for sale at Merger closing, which are included in discontinued operations.
Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis	Assets and liabilities measured at fair value on a recurring basis and on a non-recurring basis are categorized in the table below based upon the lowest level of significant input to the valuations. At March 31, 2016 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 8,786 $ — $ — $ 8,786 Marketable securities: Investment in CBRE Strategic Partners Asia 5,126 — — 5,126 Real estate investments classified as held for sale at Merger closing 10,522 — — 10,522 $ 24,434 $ — $ — $ 24,434 Financial Liabilities: Derivative instruments: Interest rate swaps $ 27,461 $ — $ — $ 27,461 $ 27,461 $ — $ — $ 27,461 At December 31, 2015 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 7,471 $ — $ — $ 7,471 Marketable securities: Investment in CBRE Strategic Partners Asia 5,508 — — 5,508 Real estate investments classified as held for sale at Merger closing 393,984 — — 393,984 $ 406,963 $ — $ — $ 406,963 Financial Liabilities: Derivative instruments: Interest rate swaps $ 3,442 $ — $ — $ 3,442 $ 3,442 $ — $ — $ 3,442
Fair Value, Assets and Liabilities Measured on Recurring Basis, Valuation Techniques	Quantitative information regarding the valuation techniques and the range of significant unobservable Level III inputs used to determine fair value measurements on a recurring basis as of March 31, 2016 are: At March 31, 2016 Financial Asset or Liability Fair Value Valuation Technique Unobservable Inputs Range Non-investment grade, subordinate CDO bonds $ 8,786 Discounted cash flows Discount rate 22.50% Interest rate swaps $ 27,461 Hypothetical derivative method Credit borrowing spread 135 to 220 basis points Investment in CBRE Strategic Partners Asia $ 5,126 Discounted cash flows Discount rate 20.00%
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation	The following roll forward table reconciles the beginning and ending balances of financial assets measured at fair value on a recurring basis using Level III inputs: Retained CDO Bonds Investment in CBRE Strategic Partners Asia Total Financial Assets – Level III Balance as of December 31, 2015 $ 7,471 $ 5,508 $ 12,979 Amortization of discounts or premiums 381 — 381 Adjustments to fair value: Unrealized gain in other comprehensive income from fair value adjustment 934 — 934 Total income on fair value adjustment — (68 ) (68 ) Purchase price allocation adjustments — (314 ) (314 ) Balance as of March 31, 2016 $ 8,786 $ 5,126 $ 13,912
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation	The following roll forward table reconciles the beginning and ending balances of financial liabilities measured at fair value on a recurring basis using Level III inputs: Derivative Instruments Balance as of December 31, 2015 $ 3,442 Adjustments to fair value: Ineffective portion of change in derivative instruments 1,830 Unrealized loss on derivatives 22,189 Balance as of March 31, 2016 $ 27,461

Derivative and Non-Derivative34

Derivative and Non-Derivative Hedging Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Derivative Instrument Detail [Abstract]
Schedule of Derivative Instruments	The following table summarizes the notional and fair value of the Company’s derivative and hedging instruments at March 31, 2016 . The fair value of the derivatives is presented in the Company’s balance sheet in Derivative instruments, at fair value and the carrying value of the non-derivative net investment hedge is included in the balance of the Company’s 2015 Revolving Credit Facility. The notional value is an indication of the extent of the Company’s involvement in this instrument at that time, but does not represent exposure to credit, interest rate or market risks: Benchmark Rate Notional Value Strike Rate Effective Date Expiration Date Fair Value Assets of Non-VIEs: Interest Rate Swap - Waco 1 mo. USD-LIBOR-BBA 15,410 USD 4.55% 12/19/2013 12/19/2020 $ 953 Interest Rate Swap - Point West I 1 mo. USD-LIBOR-BBA 10,310 USD 1.41% 8/16/2011 12/6/2016 62 Interest Rate Swap - Atrium I 1 mo. USD-LIBOR-BBA 20,410 USD 1.78% 8/16/2011 5/31/2018 444 Interest Rate Swap - Easton III 1 mo. USD-LIBOR-BBA 6,048 USD 1.95% 8/16/2011 1/31/2019 188 Interest Rate Swap - 5-Year Term Loan 1 mo. USD-LIBOR-BBA 750,000 USD 1.60% 12/17/2015 12/17/2020 19,337 Interest Rate Swap - 7-Year Term Loan 1 mo. USD-LIBOR-BBA 175,000 USD 1.82% 12/17/2015 1/9/2023 6,477 Non-Derivative Net Investment Hedge in Gramercy European Property Fund EUR-USD exchange rate 20,000 Euros N/A 9/28/2015 N/A — Total hedging instruments $ 27,461

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit) (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Earnings per share for the three months ended March 31, 2016 and 2015 are computed as follows: Three Months Ended March 31, 2016 2015 Numerator – Income (loss): Net income (loss) from continuing operations $ (5,693 ) $ 24 Net income (loss) from discontinued operations 4,640 (62 ) Net loss (1,053 ) (38 ) Net loss attributable to noncontrolling interest 120 42 Nonforfeitable dividends allocated to unvested restricted shareholders (199 ) (19 ) Preferred share dividends (1,559 ) (1,559 ) Net loss available to vested common shares outstanding $ (2,691 ) $ (1,574 ) Denominator – Weighted average shares (1) : Weighted average basic shares outstanding 420,181,216 149,115,357 Effect of dilutive securities: Unvested share based payment awards — — Options — — Phantom shares — — Shares related to OP Units — — Exchangeable Senior Notes — — Diluted Shares 420,181,216 149,115,357 (1) As a result of the Merger, each outstanding share of common stock of Legacy Gramercy was converted into 3.1898 of a newly issued common share of the Company. Therefore, the historical data related to quarterly earnings per common share for the periods ended before December 31, 2015 have been adjusted by the Merger exchange ratio of 3.1898 .
Schedule of Accumulated Other Comprehensive Income (Loss)	Accumulated other comprehensive income (loss) as of March 31, 2016 and December 31, 2015 is comprised of the following: March 31, 2016 December 31, 2015 Net unrealized loss on derivative securities $ (28,263 ) $ (6,074 ) Net unrealized gain on debt instruments 1,944 1,010 Foreign currency translation adjustments: Gain (loss) on non-derivative net investment hedge (1) (1,022 ) 14 Other foreign currency translation adjustments 6,499 (656 ) Reclassification of swap loss into interest expense 315 (45 ) Total accumulated other comprehensive loss $ (20,527 ) $ (5,751 ) (1) The foreign currency translation adjustment associated with the Company’s non-derivative net investment hedge related to its equity investment in the Gramercy European Property Fund is included in other comprehensive income (loss).

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	3 Months Ended
	Mar. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest in the Operating Partnership	Below is the rollforward of the activity relating to the noncontrolling interests in Legacy Gramercy’s operating partnership as of March 31, 2016 : Noncontrolling Interest Balance as of December 31, 2015 $ 10,892 Issuance of noncontrolling interests in the Company’s operating partnerships — Redemption of noncontrolling interests in the Company’s operating partnerships (523 ) Net loss attribution (8 ) Fair value adjustments 1,207 Dividends (234 ) Balance as of March 31, 2016 $ 11,334

Commitments and Contingencies (

Commitments and Contingencies (Tables)	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Schedule of Future Minimum Rental Payments	Future minimum rental payments to be made by the Company under these noncancelable ground leases, excluding increases resulting from increases in the consumer price index, are as follows: Ground Leases - Operating Ground Leases - Capital Total April 1 to December 31, 2016 $ 1,374 $ — $ 1,374 2017 1,728 — 1,728 2018 1,728 — 1,728 2019 1,707 — 1,707 2020 1,732 — 1,732 Thereafter 47,991 329 48,320 Total minimum rent expense $ 56,260 $ 329 $ 56,589

Segment Reporting (Tables)

Segment Reporting (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Schedule of Evaluation of Performance Based on Financials Measure for Each Segment	The Company evaluates performance based on the following financial measures for each segment: Asset Management Investments / Corporate Total Company Three Months Ended March 31, 2016 Total revenues $ 5,151 $ 115,394 $ 120,545 Equity in net loss from unconsolidated equity investments — (2,755 ) (2,755 ) Total operating and interest expense (1) (5,459 ) (118,024 ) (123,483 ) Net loss from continuing operations $ (308 ) $ (5,385 ) $ (5,693 ) Asset Management Investments / Corporate Total Company Three Months Ended March 31, 2015 Total revenues $ 8,179 $ 39,756 $ 47,935 Equity in net loss from unconsolidated equity investments — (1 ) (1 ) Total operating and interest expense (1) (6,673 ) (41,237 ) (47,910 ) Net income (loss) from continuing operations $ 1,506 $ (1,482 ) $ 24 Asset Management Investments / Corporate Total Company Total Assets: March 31, 2016 $ 11,216 $ 5,337,093 $ 5,348,309 December 31, 2015 $ 5,882 $ 5,828,636 $ 5,834,518 (1) Total operating and interest expense includes operating costs on commercial property assets for the Investments/Corporate segment and costs to perform required functions under the management agreement for the Asset Management segment. Depreciation and amortization of $58,248 and $18,698 and provision for taxes of $703 and $1,114 for the three months ended March 31, 2016 and 2015 , respectively.

Supplemental Cash Flow Inform39

Supplemental Cash Flow Information (Tables)	3 Months Ended
	Mar. 31, 2016
Supplemental Cash Flow Elements [Abstract]
Schedule of Supplemental Cash Flow Activities	The table below presents additional relevant information pertaining to results of discontinued operations for the three months ended March 31, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Three Months Ended March 31, 2016 2015 Significant operating noncash items $ (9,455 ) $ — Increase in cash and cash equivalents related to foreign currency translation 275 — Total $ (9,180 ) $ — The following table represents supplemental cash flow disclosures for the three months ended March 31, 2016 and 2015 : Three Months Ended March 31, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 20,638 $ 5,769 Income taxes paid 322 167 Proceeds from 1031 exchanges from sale of real estate 175,808 — Use of funds from 1031 exchanges for acquisitions of real estate (30,308 ) — Non-cash activity: Fair value adjustment to noncontrolling interest in the operating partnership $ 1,207 $ 350 Debt assumed in acquisition of real estate — 141,033 Debt transferred in disposition of real estate (101,432 ) — Redemption of units of noncontrolling interest in the operating partnership for common shares (524 ) (2,631 ) Non-cash activities recognized in other comprehensive income: Deferred losses and other non-cash activity related to derivatives $ (22,189 ) $ (2,132 ) Change in net unrealized loss on securities available for sale 934 5,750 Non-cash effect of foreign currency translation adjustments 6,119 (218 )

Business and Organization (Narr

Business and Organization (Narrative) (Details) $ in Thousands	Jul. 31, 2014Property	Mar. 31, 2016USD ($)ft²buildingPropertytransaction	Mar. 31, 2015ft²Property	Dec. 31, 2015Property	Dec. 17, 2015shares
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties		40		41
Number of Acquisitions	3	3	158
Square Feet | ft²		621,646	33,800,146
Number of properties sold		9
Area of real estate properties sold | ft²		2,095,194
Proceeds from sale of real estate | $		$ 531,500
Individual Acquisitions [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Acquisitions		3	27
Square Feet | ft²		621,646
Property transactions | transaction		2
Purchase price of real estate | $		$ 52,750
Chambers Street Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Shares issued to shareholders in acquisition (in shares) | shares					3.1898
Number of Acquisitions				29
GPT Property Trust Limited Partnership [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
General partner, percent		100.00%
Ownership %		100.00%
Ownership percentage by noncontrolling owners		0.32%
Direct Ownership or Corporate Joint Venture [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | building		316
Percentage of occupancy for leased office and industrial property		98.70%
Commercial Lease Properties [Member] | Gramercy Asset Management [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Available for sale securities and other investments | $		$ 900,000
Wholly Owned Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties		0
Wholly Owned Properties [Member] | Chambers Street Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Acquisitions		104		104
Europe [Member] | Commercial Lease Properties [Member] | Gramercy Asset Management [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Available for sale securities and other investments | $		$ 459,000

Business and Organization (Summ

Business and Organization (Summary of Wholly-Owned Properties) (Details)	Mar. 31, 2016ft²Property	Dec. 31, 2015Property
Real Estate Properties [Line Items]
Number of Properties	40	41
Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties	0
Rentable Square Feet | ft²	45,437,203
Occupancy	98.50%
Industrial Property [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties	0
Rentable Square Feet | ft²	34,384,245
Occupancy	98.40%
Office Properties [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties	0
Rentable Square Feet | ft²	9,865,700
Occupancy	98.80%
Specialty Retail [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties	0
Rentable Square Feet | ft²	1,187,258
Occupancy	100.00%

Significant Accounting Polici42

Significant Accounting Policies (Narrative) (Details) $ in Thousands	Dec. 19, 2014USD ($)	Mar. 31, 2016USD ($)Propertyentity	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)Propertyentity
Accounting Policies [Line Items]
Amortization of intangible assets		$ 27,560		$ 7,997
Amortization of off market lease unfavorable and off market lease favorable		181		3,945
Property management expenses		4,521		5,166
Goodwill		3,477			$ 3,568
Investment in unconsolidated equity investments		527,269			580,000
Restricted cash		$ 166,552			$ 17,354
Number of consolidated VIEs | entity		4			2
Number of unconsolidated variable interest entities | entity		4			4
Allowance for doubtful accounts receivable		$ 261			$ 204
Incentive fee recognized		$ 973		3,035
Number of Properties | Property		40			41
Foreign currency translation gain (loss)		$ 6,119		(218)
Foreign currency transaction gain (loss), realized		105		(6)
Servicing rights reimbursements		1,390		0
Servicing Asset		0			$ 1,382
Retained collateralized debt obligations (CDOs) bonds, other-than-temporary impairment		0
Total income tax benefit (provision)		$ 703		$ 1,114
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage		11.00%		37.00%
Available-for-sale Securities [Member]
Accounting Policies [Line Items]
Retained collateralized debt obligations (CDOs) bonds, other-than-temporary impairment		$ 0		$ 0
KBS [Member] | Management Fee Income Concentration [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage		86.00%		80.00%
Assets Held-for-sale [Member]
Accounting Policies [Line Items]
Assets held for sale, net | Property		1			6
Proportion Foods [Member]
Accounting Policies [Line Items]
Amount committed		$ 24,950
Proportion Foods [Member] | Proportion Foods [Member]
Accounting Policies [Line Items]
Percentage of area leased property		100.00%
Amount committed		$ 20,838
Amount funded		8,270
Gramercy Europe Asset Management - European Fund Carry Co [Member]
Accounting Policies [Line Items]
Net assets of nonconsolidated VIEs		$ (17)			$ (5)
Cbre Strategic Partners Asia [Member]
Accounting Policies [Line Items]
Ownership %		5.07%
Number of Properties | Property		2			2
Gramercy Europe Asset [Member] | Management Fee Income Concentration [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage				13.00%
Gramercy Europe Asset [Member] | United Kingdom [Member]
Accounting Policies [Line Items]
Number of Properties | Property		1
ThreadGreen Europe Limited [Member]
Accounting Policies [Line Items]
Goodwill		$ 3,477			$ 3,568
Goodwill adjustment			$ 85
Foreign currency transaction gain (loss), realized	$ 16
ThreadGreen Europe Limited [Member] | Preliminary Allocations [Member]
Accounting Policies [Line Items]
Goodwill	$ 3,887
ThreadGreen Europe Limited [Member] | Finalized Allocations [Member]
Accounting Policies [Line Items]
Goodwill			$ 3,802
Ground Lease [Member]
Accounting Policies [Line Items]
Property management expenses		$ 9		$ 39
Building [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life		40 years
Building Equipment and Fixtures [Member] | Minimum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life		5 years
Building Equipment and Fixtures [Member] | Maximum [Member]
Accounting Policies [Line Items]
Property, plant and equipment, useful life		10 years
Deferred Costs, net [Member] | Accounting Standards Update 2015-03 [Member]
Accounting Policies [Line Items]
Deferred finance costs					(6,389)
Long-term Debt [Member] | Accounting Standards Update 2015-03 [Member]
Accounting Policies [Line Items]
Deferred finance costs					$ 6,389

Significant Accounting Polici43

Significant Accounting Policies (Schedule of Intangible Assets and Acquired Lease Obligations) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Intangible assets:
Total intangible assets	$ 631,048	$ 682,174
Finite-lived intangible assets, accumulated amortization	84,671	54,323
Intangible liabilities:
Total intangible liabilities	238,115	242,456
In-Place Leases [Member]
Intangible assets:
Total intangible assets	550,230	644,540
Finite-lived intangible assets, accumulated amortization	75,613	49,125
Above Market Leases [Member]
Intangible assets:
Total intangible assets	75,614	94,202
Finite-lived intangible assets, accumulated amortization	8,879	5,051
Below Market Ground Rent [Member]
Intangible assets:
Total intangible assets	5,204	5,236
Finite-lived intangible assets, accumulated amortization	179	147
Below Market Lease [Member]
Intangible liabilities:
Total intangible liabilities	234,617	255,452
Finite-lived intangible liabilities, accumulated amortization	21,068	16,934
Above Market Ground Rent [Member]
Intangible liabilities:
Total intangible liabilities	3,498	3,522
Finite-lived intangible liabilities, accumulated amortization	172	149
Assets Held-for-sale [Member]
Intangible assets:
Total intangible assets	0	(61,804)
Finite-lived intangible assets, accumulated amortization	0	0
Intangible liabilities:
Total intangible liabilities	0	(16,518)
Finite-lived intangible liabilities, accumulated amortization	$ 0	$ 0

Significant Accounting Polici44

Significant Accounting Policies (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Depreciation and Amortization Expense [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	$ 75,472
2,017	86,996
2,018	74,517
2,019	61,701
2,020	49,432
Rental Revenue [Member]
Finite-Lived Intangible Assets, Amortization Expense And Below Market Leases, Amortized Income
April 1 to December 31, 2016	(1,085)
2,017	102
2,018	(1,215)
2,019	(2,530)
2,020	(4,693)
Rental Expense [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	25
2,017	33
2,018	33
2,019	33
2,020	$ 33
In-Place Leases [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	9 years 6 months
In-Place Leases [Member] | Depreciation and Amortization Expense [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	$ 75,472
2,017	86,996
2,018	74,517
2,019	61,701
2,020	$ 49,432
Above Market Leases [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	7 years 6 months
Above Market Leases [Member] | Rental Revenue [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	$ 11,295
2,017	13,173
2,018	11,553
2,019	9,987
2,020	$ 7,557
Below Market Lease [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	20 years 3 months 18 days
Below Market Lease [Member] | Rental Revenue [Member]
Below Market Lease
April 1 to December 31, 2016	$ (12,380)
2,017	(13,071)
2,018	(12,768)
2,019	(12,517)
2,020	$ (12,250)
Below Market Ground Rent [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	42 years 1 month 6 days
Below Market Ground Rent [Member] | Rental Expense [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	$ 95
2,017	127
2,018	127
2,019	127
2,020	$ 127
Above Market Ground Rent [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	37 years 3 months 18 days
Above Market Ground Rent [Member] | Rental Expense [Member]
Finite-Lived Intangible Assets
April 1 to December 31, 2016	$ (70)
2,017	(94)
2,018	(94)
2,019	(94)
2,020	$ (94)

Significant Accounting Polici45

Significant Accounting Policies (Schedule of Variable Interest Entities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Collateralized Debt Obligations Bonds [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, unconsolidated	$ 8,786	$ 7,471
Company carrying value - liabilities, unconsolidated	0	0
Face value of assets held by the VIEs, unconsolidated	1,202,885	1,382,373
Face value of liabilities issued by the VIEs, unconsolidated	1,197,539	1,282,583
Operating Partnerships [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	5,348,309
Company carrying value - liabilities, consolidated	2,488,630
Face value of assets held by the VIEs, consolidated	5,348,309
Face value of liabilities issued by the VIEs, consolidated	2,488,630
Proportion Foods [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	8,329	7,949
Company carrying value - liabilities, consolidated	550	16
Face value of assets held by the VIEs, consolidated	8,329	7,949
Face value of liabilities issued by the VIEs, consolidated	8,820	8,183
Gramercy Europe Asset Management - European Fund Manager [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	276	334
Company carrying value - liabilities, consolidated	1,029	832
Face value of assets held by the VIEs, consolidated	276	334
Face value of liabilities issued by the VIEs, consolidated	1,029	832
Company carrying value-assets, unconsolidated	0
Company carrying value - liabilities, unconsolidated	0
Face value of assets held by the VIEs, unconsolidated	11
Face value of liabilities issued by the VIEs, unconsolidated	$ 28
Gramercy Europe Asset Management - European Fund Carry Co [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, unconsolidated		0
Company carrying value - liabilities, unconsolidated		0
Face value of assets held by the VIEs, unconsolidated		11
Face value of liabilities issued by the VIEs, unconsolidated		$ 16

Significant Accounting Polici46

Significant Accounting Policies (Schedule of Retained Collateralized Debt Obligation Bonds) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)security	Mar. 31, 2015USD ($)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | security	9
Face Value	$ 376,972
Amortized Cost	6,842
Gross Unrealized Gain	1,944
Other-than-temporary impairment	0
Fair Value	$ 8,786
Weighted Average Expected Life	2 years 6 months
Available-for-sale Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | security	9
Face Value	$ 376,972
Amortized Cost	6,842
Gross Unrealized Gain	1,944
Other-than-temporary impairment	0	$ 0
Fair Value	$ 8,786
Weighted Average Expected Life	2 years 6 months

Significant Accounting Polici47

Significant Accounting Policies (Other Than Temporary Impairment Credit Losses Recognized in Earnings) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Beginning Balance	$ 3,196	$ 6,818
Additions to credit losses:
On Retained CDO Bonds for which an OTTI was not previously recognized	0	0
On Retained CDO Bonds for which an OTTI was previously recognized and a portion of an OTTI was recognized in other comprehensive income	0	0
On Retained CDO Bonds for which an OTTI was previously recognized without any portion of OTTI recognized in other comprehensive income	0	0
Reduction for credit losses:
On Retained CDO Bonds for which no OTTI was recognized in other comprehensive income at current measurement date	0	0
On Retained CDO Bonds sold during the period	0	0
On Retained CDO Bonds charged off during the period	0	0
For increases in cash flows expected to be collected that are recognized over the remaining life of the Retained CDO Bonds	(1,524)	(3,622)
Ending Balance	$ 1,672	$ 3,196

Dispositions, Assets Held for48

Dispositions, Assets Held for Sale, and Discontinued Operations (Narrative) (Details) $ in Thousands	Jul. 31, 2014Property	Mar. 31, 2016USD ($)ft²Property	Mar. 31, 2015Property	Dec. 31, 2015USD ($)Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold		9	0
Number of Properties	3	3	158
Proceeds from sale of property held-for-sale | $		$ 531,500
Assets Held-for-sale, Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold		5
Proceeds from sale of property held-for-sale | $		$ 386,000
Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold		4
Proceeds from sale of property held-for-sale | $		$ 145,500
Number of properties held-for-sale		1		6
Net asset value | $		$ 10,172		$ 129,121
Office Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of real estate property | ft²		2,095,194
Number of Properties			53
Exchange of Productive Assets [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold		6
Purchase price of real estate | $		$ 30,301
Number of Properties		1
Proceeds from sale of property held-for-sale | $		$ 175,808

Dispositions, Assets Held for49

Dispositions, Assets Held for Sale, and Discontinued Operations (Summary of Assets and Liabilities Held-for-sale) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets held for sale
Total assets	$ 10,548	$ 420,485
Liabilities related to assets held for sale
Total liabilities	376	291,364
Assets Held-for-sale [Member]
Assets held for sale
Real estate investments	10,522	348,582
Acquired lease assets	0	61,804
Other assets	26	10,099
Total assets	10,548	420,485
Liabilities related to assets held for sale
Mortgage notes payable, net	0	260,704
Below-market lease liabilities	0	16,518
Other liabilities	376	14,142
Total liabilities	376	291,364
Net assets held for sale	$ 10,172	$ 129,121

Dispositions, Assets Held for50

Dispositions, Assets Held for Sale, and Discontinued Operations (Schedule of Operating Results of Assets Held-for-sale Including in Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating Results:
Interest expense	$ (21,953)	$ (6,270)
Gain on extinguishment of debt	1,930	0
Income (loss) from discontinued operations	4,640	(62)
Assets Held-for-sale [Member]
Operating Results:
Revenues	5,857	(100)
Operating expenses	(2,180)	210
General and administrative expense	(12)	(172)
Interest expense	(955)	0
Gain on extinguishment of debt	1,930	0
Income (loss) from discontinued operations	$ 4,640	$ (62)

Dispositions, Assets Held for51

Dispositions, Assets Held for Sale, and Discontinued Operations (Schedule of Significant Operating and Investing Noncash Items) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Increase in cash and cash equivalents related to foreign currency translation	$ (3)	$ 15
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Significant operating noncash items	(9,455)	0
Increase in cash and cash equivalents related to foreign currency translation	275	0
Total	$ (9,180)	$ 0

Real Estate Investments (Summar

Real Estate Investments (Summary of Property Acquisitions) (Details) $ / shares in Units, $ in Thousands	Jul. 31, 2014Property	Mar. 31, 2016USD ($)ft²Property$ / shares	Mar. 31, 2015USD ($)ft²Property	Dec. 31, 2015USD ($)Propertymortgage$ / shares	Dec. 17, 2015$ / sharesshares
Real Estate Properties [Line Items]
Number of Properties	3	3	158
Square Feet | ft²		621,646	33,800,146
Purchase Price | $		$ 52,750	$ 3,726,563
Common stock, par value (in usd per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01
Chambers Street Properties [Member]
Real Estate Properties [Line Items]
Number of Properties				29
Shares issued to shareholders in acquisition (in shares) | shares					3.1898
Non-recourse debt | $				$ 464,292
Number of mortgages assumed in acquisition | mortgage				30
Chambers Street Properties [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties		104		104
Industrial Property [Member]
Real Estate Properties [Line Items]
Number of Properties		3	95
Square Feet | ft²		621,646	23,972,916
Purchase Price | $		$ 52,750	$ 1,561,828
Non-recourse debt | $				$ 153,877
Number of mortgages assumed in acquisition | mortgage				17
Industrial Property [Member] | Chambers Street Properties [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties		60
Square Feet | ft²		17,355,358
Office Properties [Member]
Real Estate Properties [Line Items]
Number of Properties			53
Square Feet | ft²			8,496,686
Purchase Price | $			$ 1,864,235
Office Properties [Member] | Chambers Street Properties [Member] | Wholly Owned Properties [Member]
Real Estate Properties [Line Items]
Number of Properties		44
Square Feet | ft²		7,205,381
Specialty Retail [Member]
Real Estate Properties [Line Items]
Number of Properties			10
Square Feet | ft²			1,330,544
Purchase Price | $			$ 300,500
Assets Held-for-sale [Member] | Chambers Street Properties [Member]
Real Estate Properties [Line Items]
Non-recourse debt | $				$ 254,291

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ / shares in Units, $ in Thousands	Dec. 19, 2014USD ($)shares	Jul. 31, 2014Property	Mar. 31, 2016USD ($)Property$ / shares	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)Property	Dec. 31, 2015USD ($)Property$ / shares	Dec. 17, 2015USD ($)$ / sharesshares
Business Acquisition [Line Items]
Total revenues			$ 120,545		$ 47,935
Net income (loss)			$ (933)		$ 4
Number of Properties | Property		3	3		158
Common stock, par value (in usd per share) | $ / shares			$ 0.01			$ 0.01	$ 0.01
Goodwill			$ 3,477			$ 3,568
Foreign currency transaction loss, realized			105		$ (6)
Chambers Street Properties [Member]
Business Acquisition [Line Items]
Number of Properties | Property						29
Consideration transferred							$ 1,829,241
Shares issued to shareholders in acquisition (in shares) | shares							3.1898
Adjustment to real estate assets			328
Adjustment to liabilities			328
Adjustment to depreciation and amortization			7
Total assets							$ 3,324,875
Total liabilities							$ 1,495,634
Individual Acquisitions [Member]
Business Acquisition [Line Items]
Total revenues			652		3,446
Net income (loss)			$ 464		$ 472
Number of Properties | Property			3		27
ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Adjustment to assets				$ 190
Adjustment to liabilities				(105)
Payments to acquire businesses	$ 3,755
Number of shares issued in acquisition (in shares) | shares	96,535
Value assigned to equity interest issued	$ 652
Goodwill			$ 3,477			$ 3,568
Foreign currency transaction loss, realized	16
Goodwill adjustment				85
Adjustment to net income				80
2015 Acquisitions Analyzed [Member]
Business Acquisition [Line Items]
Number of Properties | Property						10
2014 Acquisitions Analyzed [Member]
Business Acquisition [Line Items]
Number of Properties | Property						10
Preliminary Allocations [Member] | 2015 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Number of Properties | Property			5
Preliminary Allocations [Member] | 2014 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Number of Properties | Property					141	141
Preliminary Allocations [Member] | ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Total assets	902
Total liabilities	398
Goodwill	$ 3,887
Finalized Allocations [Member] | 2015 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Adjustment to depreciation and amortization			$ (13)
Finalized Allocations [Member] | 2014 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Adjustment to depreciation and amortization						$ 205
Finalized Allocations [Member] | ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Total assets			1,092
Total liabilities			$ 503
Goodwill				$ 3,802
Old Gramercy Stock [Member]
Business Acquisition [Line Items]
Common stock, par value (in usd per share) | $ / shares			$ 0.001
Share price (in usd per share) | $ / shares							$ 24.63

Real Estate Investments (Proper

Real Estate Investments (Property Purchase Price Allocation) (Details) $ in Thousands	Jul. 31, 2014Property	Mar. 31, 2016USD ($)Property	Mar. 31, 2015Property	Dec. 31, 2015USD ($)Property	Dec. 17, 2015USD ($)
Real Estate Properties [Line Items]
Number of Acquisitions | Property	3	3	158
Proportion Foods [Member]
Real Estate Properties [Line Items]
Real Estate Assets		$ 7,947
2015 Acquisitions Analyzed [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property				10
Real Estate Assets				$ 259,093
Intangible Assets				0
Below-market lease liabilities				$ 0
Chambers Street Properties [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property				29
Real Estate Assets					$ 1,912,976
Below-market lease liabilities					$ 40,593
(Increase) Decrease to Depreciation and Amortization Expense		$ (7)
Wholly Owned Properties [Member] | Chambers Street Properties [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property		104		104
Wholly Owned Properties [Member] | Bank Of America [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property				67
Preliminary Allocations [Member] | 2015 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property		5
Real Estate Assets		$ 63,309
Intangible Assets		2,084
Below-market lease liabilities		184
Preliminary Allocations [Member] | 2014 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property			141	141
Real Estate Assets				$ 1,373,360
Intangible Assets				320,066
Below-market lease liabilities				81,961
Finalized Allocations [Member] | 2015 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Real Estate Assets		56,656
Intangible Assets		8,553
Below-market lease liabilities		0
Increase (Decrease) to Rental Revenue		(18)
(Increase) Decrease to Depreciation and Amortization Expense		$ 13
Finalized Allocations [Member] | 2014 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Real Estate Assets				1,535,763
Intangible Assets				302,083
Below-market lease liabilities				226,381
Increase (Decrease) to Rental Revenue				2,307
(Increase) Decrease to Depreciation and Amortization Expense				$ (205)

Real Estate Investments (Pro Fo

Real Estate Investments (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Business Combinations [Abstract]
Pro forma revenues	$ 112,243	$ 119,034
Pro forma net income (loss) available to common stockholders	$ (7,558)	$ 8,910
Pro forma earnings per common share-basic (in usd per share)	$ (0.02)	$ 0.06
Pro forma earnings per common share-diluted (in usd per share)	$ (0.02)	$ 0.06
Pro forma common shares-basic (in shares)	420,181,216	149,937,452
Pro forma common share-diluted (in shares)	420,181,216	155,132,478

Real Estate Investments (Summ56

Real Estate Investments (Summary of Acquired Assets and Liabilities) (Details) - Chambers Street Properties [Member] $ in Thousands	Dec. 17, 2015USD ($)
Assets
Land	$ 261,514
Buildings and improvements	1,651,462
Net investments	1,912,976
Unconsolidated equity investments	556,232
Cash and cash equivalents	24,687
Restricted cash	8,990
Tenant and other receivables, net	10,885
Acquired lease assets	387,988
Deferred costs and other assets	5,002
Assets held for sale	418,115
Total assets	3,324,875
Liabilities
Mortgage notes payable	860,000
Revolving credit facilities and term loans	218,945
Below-market lease liabilities	40,593
Accounts payable, accrued expenses, and other liabilities	87,106
Liabilities related to assets held for sale	288,990
Total liabilities	1,495,634
Estimated fair value of net assets acquired	$ 1,829,241

Unconsolidated Equity Investm57

Unconsolidated Equity Investments (Narrative) (Details) € in Thousands, $ in Thousands	Oct. 08, 2015USD ($)	Jul. 31, 2014Property	Feb. 29, 2016	Mar. 31, 2016USD ($)ft²Propertyentityextension	Mar. 31, 2016EUR (€)Property	Mar. 31, 2015USD ($)Property	Mar. 31, 2015EUR (€)Property	Dec. 31, 2015USD ($)Property	Mar. 31, 2016EUR (€)ft²entityextension	Dec. 31, 2015EUR (€)
Investments in and Advances to Affiliates [Line Items]
Contributions to unconsolidated equity investments				$ 2,471
Number of Properties | Property		3		3	3	158	158
Number of properties sold | Property				9	9
Distributions received from unconsolidated equity investments				$ 9,961		$ 103
Proceeds from sale of real estate				$ 531,500
The Company and Equity Investment Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available								$ 287,345		€ 252,500
Gramercy Europe Committed [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available								401,145		352,500
Philips Building [Member]
Investments in and Advances to Affiliates [Line Items]
Area of real estate property | ft²				199,900					199,900
Face amount of mortgages				$ 40,127
Distribution received from joint venture				0		103
Gramercy Europe [Member] | Additional Capital Accordion [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available								113,800		100,000
Gramercy Europe [Member] | The Company [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available				$ 56,900				56,900	€ 50,000	50,000
Gramercy Europe [Member] | Equity Investment Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available								$ 230,445		€ 202,500
Philips Holdings USA Inc. [Member]
Investments in and Advances to Affiliates [Line Items]
Percentage of occupancy for leased office and industrial property				100.00%					100.00%
Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Contributions to unconsolidated equity investments				$ 28,134	€ 25,358	$ 25,663	€ 23,160
Number of Properties | Property				3	3	12	12
Voting Interest %				19.80%					19.80%
Ownership %				19.80%					19.80%
Duke Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Distributions received from unconsolidated equity investments				$ 53,807
Voting Interest %				50.00%					50.00%
Ownership %				80.00%					80.00%
Goodman UK [Member]
Investments in and Advances to Affiliates [Line Items]
Distributions received from unconsolidated equity investments				$ 0
Voting Interest %				50.00%					50.00%
Ownership %				80.00%					80.00%
Goodman Europe [Member]
Investments in and Advances to Affiliates [Line Items]
Distributions received from unconsolidated equity investments				$ 3,561
Voting Interest %				50.00%					50.00%
Ownership %				80.00%					80.00%
Cbre Strategic Partners Asia [Member]
Investments in and Advances to Affiliates [Line Items]
Term of agreement				8 years	8 years
Number of extensions | extension				2					2
Term of extensions			1 year	1 year	1 year
Voting Interest %				5.07%					5.07%
Ownership %				5.07%					5.07%
Morristown [Member]
Investments in and Advances to Affiliates [Line Items]
Voting Interest %	50.00%			50.00%					50.00%
Ownership %	50.00%			50.00%					50.00%
Proceeds from sale of real estate	$ 2,600
Chambers Street Properties [Member]
Investments in and Advances to Affiliates [Line Items]
Number of unconsolidated entities | entity				4					4
Number of Properties | Property								29

Unconsolidated Equity Investm58

Unconsolidated Equity Investments (Summary of Unconsolidated Equity Investments) (Details) $ in Thousands	Mar. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)Property	Oct. 08, 2015
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated equity investment	$ 527,269	$ 580,000
Number of Properties | Property	40	41
Gramercy European Property Fund [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Voting Interest %	19.80%
Investment in unconsolidated equity investment	$ 26,228	$ 23,381
Number of Properties | Property	15	12
Philips Building [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%
Voting Interest %	25.00%
Investment in unconsolidated equity investment	$ 0	$ 0
Number of Properties | Property	1	1
Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Voting Interest %	50.00%
Investment in unconsolidated equity investment	$ 291,324	$ 352,932
Number of Properties | Property	9	13
Basis difference	$ 101,236	$ 136,198
Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Voting Interest %	50.00%
Investment in unconsolidated equity investment	$ 163,884	$ 158,863
Number of Properties | Property	9	9
Basis difference	$ 38,651	$ 37,371
Goodman UK [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Voting Interest %	50.00%
Investment in unconsolidated equity investment	$ 38,096	$ 36,698
Number of Properties | Property	3	3
Basis difference	$ 6,140	$ 6,578
Cbre Strategic Partners Asia [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	5.07%
Voting Interest %	5.07%
Investment in unconsolidated equity investment	$ 5,126	$ 5,508
Number of Properties | Property	2	2
Morristown [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	50.00%		50.00%
Voting Interest %	50.00%		50.00%
Investment in unconsolidated equity investment	$ 2,611	$ 2,618
Number of Properties | Property	1	1
Gramercy Europe Asset Management - European Fund Carry Co [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%	25.00%
Investment in unconsolidated equity investment	$ (7)	$ 0

Unconsolidated Equity Investm59

Unconsolidated Equity Investments (Rollforward of Unconsolidated Equity Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Beginning balance	$ 580,000
Contributions to unconsolidated equity investments	2,471
Equity in net loss of unconsolidated equity investments	(2,755)	$ (1)
Other comprehensive income of unconsolidated equity investments	7,576
Distributions from unconsolidated equity investments	(57,368)
Purchase price allocation adjustments	(2,655)
Ending balance	$ 527,269

Unconsolidated Equity Investm60

Unconsolidated Equity Investments (Combined Balance Sheets for the Company's Joint Ventures) (Details) - Corporate Joint Venture [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets:
Real estate assets, net	$ 1,113,525	$ 1,159,386
Other assets	142,954	143,579
Total assets	1,256,479	1,302,965
Liabilities and members’ equity:
Mortgages payable	350,687	361,495
Other liabilities	68,915	61,509
Total liabilities	419,602	423,004
Gramercy Property Trust equity	527,269	580,000
Other members’ equity	309,608	299,961
Liabilities and members’ equity	1,256,479	1,302,965
Duke Joint Venture [Member]
Assets:
Real estate assets, net	342,437	443,313
Other assets	25,138	32,739
Total assets	367,575	476,052
Liabilities and members’ equity:
Mortgages payable	12,992	56,105
Other liabilities	6,329	6,035
Total liabilities	19,321	62,140
Gramercy Property Trust equity	291,324	352,932
Other members’ equity	56,930	60,980
Liabilities and members’ equity	367,575	476,052
Goodman UK [Member]
Assets:
Real estate assets, net	41,011	42,584
Other assets	6,122	3,427
Total assets	47,133	46,011
Liabilities and members’ equity:
Mortgages payable	0	0
Other liabilities	1,049	1,783
Total liabilities	1,049	1,783
Gramercy Property Trust equity	38,096	36,698
Other members’ equity	7,988	7,530
Liabilities and members’ equity	47,133	46,011
Goodman Europe [Member]
Assets:
Real estate assets, net	287,922	276,925
Other assets	40,106	42,139
Total assets	328,028	319,064
Liabilities and members’ equity:
Mortgages payable	127,137	121,350
Other liabilities	5,676	8,622
Total liabilities	132,813	129,972
Gramercy Property Trust equity	163,884	158,863
Other members’ equity	31,331	30,229
Liabilities and members’ equity	328,028	319,064
European Jv [Member]
Assets:
Real estate assets, net	282,178	236,312
Other assets	58,861	39,983
Total assets	341,039	276,295
Liabilities and members’ equity:
Mortgages payable	170,431	143,616
Other liabilities	38,074	14,581
Total liabilities	208,505	158,197
Gramercy Property Trust equity	26,235	23,385
Other members’ equity	106,299	94,713
Liabilities and members’ equity	341,039	276,295
Cbre Strategic Partners Asia [Member]
Assets:
Real estate assets, net	109,554	109,554
Other assets	9,337	9,337
Total assets	118,891	118,891
Liabilities and members’ equity:
Mortgages payable	0	0
Other liabilities	13,948	13,948
Total liabilities	13,948	13,948
Gramercy Property Trust equity	5,126	5,508
Other members’ equity	99,817	99,435
Liabilities and members’ equity	118,891	118,891
Other Joint Ventures [Member]
Assets:
Real estate assets, net	50,423	50,698
Other assets	3,390	15,954
Total assets	53,813	66,652
Liabilities and members’ equity:
Mortgages payable	40,127	40,424
Other liabilities	3,839	16,540
Total liabilities	43,966	56,964
Gramercy Property Trust equity	2,604	2,614
Other members’ equity	7,243	7,074
Liabilities and members’ equity	$ 53,813	$ 66,652

Unconsolidated Equity Investm61

Unconsolidated Equity Investments Unconsolidated Equity Investments (Real Estate Assets Subject to Mortgages) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Outstanding Balance	$ 350,687	$ 361,495
Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Graben [Member] | Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	2.39%
Outstanding Balance	$ 35,392	33,781
Koblenz [Member] | Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	2.27%
Outstanding Balance	$ 36,132	34,486
Durrholz [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.20%
Outstanding Balance	$ 13,451	12,937
Venray [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	3.00%
Outstanding Balance	$ 14,189	13,578
Bodenheim [Member] | Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	3.01%
Outstanding Balance	$ 12,882	12,296
Bremen [Member] | Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	3.01%
Outstanding Balance	$ 13,428	12,817
Lille [Member] | Goodman Europe [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	3.13%
Outstanding Balance	$ 29,304	27,970
Carlisle [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	2.84%
Outstanding Balance	$ 12,152	0
Lake Forest [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	5.00%
Outstanding Balance	$ 8,781	8,823
Tampa1 [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Interest Rate	5.00%
Outstanding Balance	$ 4,211	4,231
Rotterdam [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 8,338	0
Uden [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 9,745	9,331
Strykow [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 20,954	20,063
Piaseczno [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 8,900	8,522
Juchen [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 20,627	19,750
Breda [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 8,142	7,796
Berlin [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 12,307	11,783
Potsdam [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 9,514	9,109
Kerkade [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 10,529	10,081
Zaandam [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 12,744	12,203
Oud-Beijerland [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	19.80%
Interest Rate	1.10%
Outstanding Balance	$ 8,838	8,463
Phillips [Member] | Phillips Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%
Interest Rate	6.90%
Outstanding Balance	$ 40,127	40,424
Weston Pointe [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Outstanding Balance	$ 0	$ 43,051

Unconsolidated Equity Investm62

Unconsolidated Equity Investments (Combined Income Statement for the Company's Joint Ventures) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	$ (2,755)	$ (1)
Corporate Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	26,299	959
Operating expenses	5,354	541
Acquisition expenses	666	0
Interest expense	3,015	522
Depreciation and amortization	9,447	313
Total expenses	18,482	1,376
Net income (loss) from operations	7,817	(417)
Loss on derivatives	(3,814)	0
Loss on extinguishment of debt	(7,962)
Net gain on disposals	38,535	0
Provision for taxes	(315)	0
Net income (loss)	34,261	(417)
Company’s share in net income (loss)	30,622	(1)
Adjustments for REIT basis	(33,377)	0
Corporate Joint Venture [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	(2,755)	$ (1)
Corporate Joint Venture [Member] | Duke Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	10,536
Operating expenses	2,991
Acquisition expenses	0
Interest expense	436
Depreciation and amortization	3,729
Total expenses	7,156
Net income (loss) from operations	3,380
Loss on derivatives	0
Loss on extinguishment of debt	(7,962)
Net gain on disposals	38,535
Provision for taxes	0
Net income (loss)	33,953
Company’s share in net income (loss)	27,162
Adjustments for REIT basis	(32,621)
Corporate Joint Venture [Member] | Duke Joint Venture [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	(5,459)
Corporate Joint Venture [Member] | Goodman UK [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	4,284
Operating expenses	287
Acquisition expenses	0
Interest expense	0
Depreciation and amortization	750
Total expenses	1,037
Net income (loss) from operations	3,247
Loss on derivatives	0
Loss on extinguishment of debt	0
Net gain on disposals	0
Provision for taxes	0
Net income (loss)	3,247
Company’s share in net income (loss)	2,597
Adjustments for REIT basis	(270)
Corporate Joint Venture [Member] | Goodman UK [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	2,327
Corporate Joint Venture [Member] | Goodman Europe [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	6,121
Operating expenses	862
Acquisition expenses	0
Interest expense	923
Depreciation and amortization	2,290
Total expenses	4,075
Net income (loss) from operations	2,046
Loss on derivatives	0
Loss on extinguishment of debt	0
Net gain on disposals	0
Provision for taxes	0
Net income (loss)	2,046
Company’s share in net income (loss)	1,637
Adjustments for REIT basis	(486)
Corporate Joint Venture [Member] | Goodman Europe [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	1,151
Corporate Joint Venture [Member] | Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	5,057
Operating expenses	502
Acquisition expenses	666
Interest expense	927
Depreciation and amortization	2,345
Total expenses	4,440
Net income (loss) from operations	617
Loss on derivatives	(3,814)
Loss on extinguishment of debt	0
Net gain on disposals	0
Provision for taxes	(315)
Net income (loss)	(3,512)
Company’s share in net income (loss)	(695)
Adjustments for REIT basis	0
Corporate Joint Venture [Member] | Gramercy European Property Fund [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	(695)
Corporate Joint Venture [Member] | Other Joint Ventures [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	301
Operating expenses	712
Acquisition expenses	0
Interest expense	729
Depreciation and amortization	333
Total expenses	1,774
Net income (loss) from operations	(1,473)
Loss on derivatives	0
Loss on extinguishment of debt	0
Net gain on disposals	0
Provision for taxes	0
Net income (loss)	(1,473)
Company’s share in net income (loss)	(79)
Adjustments for REIT basis	0
Corporate Joint Venture [Member] | Other Joint Ventures [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Equity in net loss of unconsolidated equity investments	$ (79)

Debt Obligations (Secured Debt)

Debt Obligations (Secured Debt) (Narrative) (Details) $ in Thousands	Jul. 31, 2014Property	Mar. 31, 2016USD ($)Property	Mar. 31, 2015USD ($)Property	Dec. 31, 2015USD ($)Property
Debt Instrument [Line Items]
Number of Properties | Property	3	3	158
Number of real estate properties in which secured debt repaid | Property		6
Loss on extinguishment of debt		$ 5,757	$ 0
Gain on extinguishment of debt		1,930	0
Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt				$ 618,169
Number of Properties | Property				46
Loss on extinguishment of debt		3,827
Prior Period Real Estate Acquisition [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt		9,550
Chambers Street Properties [Member]
Debt Instrument [Line Items]
Non-recourse debt				$ 464,292
Number of Properties | Property				29
Chambers Street Properties [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt				$ 464,292
Number of Properties | Property				29
Assets Held-for-sale [Member]
Debt Instrument [Line Items]
Gain on extinguishment of debt		$ 1,930	$ 0

Debt Obligations (Schedule of M

Debt Obligations (Schedule of Mortgage Notes Payable) (Details) $ in Thousands	Mar. 31, 2016USD ($)PropertySecurityLoan	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Outstanding Balance	$ 350,687	$ 361,495
Total mortgage notes payable, net	$ 2,420,091
Number of loans cross collateralized by properties | SecurityLoan	5
Plantation [Member]
Debt Instrument [Line Items]
Number of real estate properties pledged under debt | Property	2
Houston [Member]
Debt Instrument [Line Items]
Number of real estate properties pledged under debt | Property	4
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 480,222	770,293
Plus net deferred financing costs and debt premium (discount)	11,138	20,633
Total mortgage notes payable, net	491,360	790,926
Total mortgage notes payable, net on assets held for sale	0	(260,704)
Total mortgage notes payable, net	$ 491,360	530,222
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Wilson [Member]
Debt Instrument [Line Items]
Interest Rate	5.33%
Outstanding Balance	$ 8,545	8,603
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Arrowood [Member]
Debt Instrument [Line Items]
Interest Rate	5.57%
Outstanding Balance	$ 13,025	13,025
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Point West I [Member]
Debt Instrument [Line Items]
Interest Rate	3.41%
Outstanding Balance	$ 10,310	10,391
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Buford [Member]
Debt Instrument [Line Items]
Interest Rate	7.46%
Outstanding Balance	$ 15,840	15,947
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 100 Tice Blvd [Member]
Debt Instrument [Line Items]
Interest Rate	5.97%
Outstanding Balance	$ 18,179	18,340
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 100 Tice Blvd [Member]
Debt Instrument [Line Items]
Interest Rate	5.97%
Outstanding Balance	$ 18,180	18,341
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 4701 Gold Spike Drive [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 9,701	9,754
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 1985 International Way [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,741	6,777
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 3660 Deerpark Blvd [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,968	7,006
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Tolleson Commerce Park II [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 4,190	4,213
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 20000 S Diamond Lake Road [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,103	6,136
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Ames [Member]
Debt Instrument [Line Items]
Interest Rate	5.53%
Outstanding Balance	$ 16,785	16,900
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Atrium I [Member]
Debt Instrument [Line Items]
Interest Rate	3.78%
Outstanding Balance	$ 20,410	20,644
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Greenwood [Member]
Debt Instrument [Line Items]
Interest Rate	3.28%
Outstanding Balance	$ 7,567	7,610
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Mount Comfort [Member]
Debt Instrument [Line Items]
Interest Rate	3.28%
Outstanding Balance	$ 6,116	6,150
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Blue Grass [Member]
Debt Instrument [Line Items]
Interest Rate	4.28%
Outstanding Balance	$ 12,605	12,696
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Easton III [Member]
Debt Instrument [Line Items]
Interest Rate	3.95%
Outstanding Balance	$ 6,048	6,094
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Fairforest Bldg 6 [Member]
Debt Instrument [Line Items]
Interest Rate	5.42%
Outstanding Balance	$ 1,307	1,398
Continuing Operations [Member] | Mortgage Notes Payable [Member] | North Rhett I [Member]
Debt Instrument [Line Items]
Interest Rate	5.65%
Outstanding Balance	$ 1,363	1,486
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Lawrence [Member]
Debt Instrument [Line Items]
Interest Rate	4.00%
Outstanding Balance	$ 21,219	21,371
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Kings Mountain II [Member]
Debt Instrument [Line Items]
Interest Rate	5.47%
Outstanding Balance	$ 2,702	2,859
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Irving [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 21,730	21,800
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Parsippany1 [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 14,879	14,926
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Plantation [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 17,635	17,692
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Commerce [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 8,108	8,134
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Redondo Beach [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 9,324	9,354
Continuing Operations [Member] | Mortgage Notes Payable [Member] | El Segundo1 [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 15,406	15,455
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Richfield [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 7,906	7,931
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Richardson [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 3,243	3,254
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Houston [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 17,352	17,407
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Aurora [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 2,068	2,074
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Dixon [Member]
Debt Instrument [Line Items]
Interest Rate	5.46%
Outstanding Balance	$ 8,108	8,134
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 1 Rocket Road [Member]
Debt Instrument [Line Items]
Interest Rate	6.60%
Outstanding Balance	$ 18,000	18,108
Continuing Operations [Member] | Mortgage Notes Payable [Member] | North Rhett II [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,155	1,210
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Mount Holly Bldg [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,155	1,210
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Orangeburg Park Bldg [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,174	1,230
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Kings Mountain I [Member]
Debt Instrument [Line Items]
Interest Rate	5.27%
Outstanding Balance	$ 1,001	1,049
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Des Plaines [Member]
Debt Instrument [Line Items]
Interest Rate	5.25%
Outstanding Balance	$ 2,519	2,537
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Waco [Member]
Debt Instrument [Line Items]
Interest Rate	4.55%
Outstanding Balance	$ 15,410	15,485
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Ten Parkway North [Member]
Debt Instrument [Line Items]
Interest Rate	4.75%
Outstanding Balance	$ 11,060	11,145
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Union Cross Bldg II [Member]
Debt Instrument [Line Items]
Interest Rate	5.53%
Outstanding Balance	$ 4,803	4,998
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Union Cross Bldg I [Member]
Debt Instrument [Line Items]
Interest Rate	5.50%
Outstanding Balance	$ 1,583	1,647
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Yuma [Member]
Debt Instrument [Line Items]
Interest Rate	5.15%
Outstanding Balance	$ 12,200	12,247
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Allentown [Member]
Debt Instrument [Line Items]
Interest Rate	5.07%
Outstanding Balance	$ 23,352	23,443
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Fairforest Bldg 5 [Member]
Debt Instrument [Line Items]
Interest Rate	6.33%
Outstanding Balance	$ 6,874	7,040
Continuing Operations [Member] | Mortgage Notes Payable [Member] | North Rhett IV [Member]
Debt Instrument [Line Items]
Interest Rate	5.80%
Outstanding Balance	$ 7,126	7,277
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Hackettstown [Member]
Debt Instrument [Line Items]
Interest Rate	5.15%
Outstanding Balance	$ 9,550	0
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Hutchins [Member]
Debt Instrument [Line Items]
Interest Rate	6.95%
Outstanding Balance	$ 23,597	23,870
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 70 Hudson Street [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	112,000
Continuing Operations [Member] | Mortgage Notes Payable [Member] | 90 Hudson Street [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	101,726
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Landings I [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	14,896
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Landings II [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	13,139
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Mc Auley Place [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	12,485
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Norman Pointe I [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	19,824
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Norman Pointe II [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 0	$ 21,825

Debt Obligations (Unsecured Deb

Debt Obligations (Unsecured Debt) (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)extension	Dec. 31, 2015USD ($)	Dec. 17, 2015USD ($)
Debt Instrument [Line Items]
Outstanding balance, line of credit	$ 122,760	$ 296,724
Outstanding Balance	350,687	361,495
Revolving Credit Facility [Member] | 2015 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Outstanding balance, line of credit	100,000	275,000
Revolving Credit Facility [Member] | 2015 Revolving Credit Facility - Multicurrency Tranche [Member]
Debt Instrument [Line Items]
Outstanding balance, line of credit	$ 22,760	$ 21,724
JPMorgan Chase Bank [Member] | 2015 Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,900,000
Line of credit facility, number of extensions | extension	2
Term of extension	6 months
JPMorgan Chase Bank [Member] | Term Loan [Member] | 3-Year Term Loan [Member]
Debt Instrument [Line Items]
Face amount			300,000
Term of instrument	3 years
JPMorgan Chase Bank [Member] | Term Loan [Member] | 5-Year Term Loan [Member]
Debt Instrument [Line Items]
Face amount			750,000
Term of instrument	5 years
JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member]
Debt Instrument [Line Items]
Line of credit facility, number of extensions | extension	1
Term of extension	12 months
JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | LIBOR 30-Day [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Face amount			850,000
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | 2015 Revolving Credit Facility - US Dollars Tranche [Member]
Debt Instrument [Line Items]
Face amount			750,000
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | 2015 Revolving Credit Facility - Multicurrency Tranche [Member]
Debt Instrument [Line Items]
Face amount			100,000
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Term Loan [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Face amount			1,050,000
Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member]
Debt Instrument [Line Items]
Face amount			$ 175,000
Term of instrument	7 years
Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | Federal Funds Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.50%
Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | LIBOR 30-Day [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.00%
Minimum [Member] | JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.90%
Minimum [Member] | JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Minimum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.125%
Minimum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.875%
Minimum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.00%
Minimum [Member] | Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.30%
Minimum [Member] | Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.30%
Maximum [Member] | JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.75%
Maximum [Member] | JPMorgan Chase Bank [Member] | Term Loan [Member] | JPM Term Loan [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.75%
Maximum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Commitment fee percentage	0.30%
Maximum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.55%
Maximum [Member] | JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	0.55%
Maximum [Member] | Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	2.10%
Maximum [Member] | Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member] | Base Rate [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate	1.10%

Debt Obligations (Schedule of C

Debt Obligations (Schedule of Credit Facilities and Term Loans) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Outstanding Balance	$ 122,760	$ 296,724
2015 Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.70%
Effective Interest Rate	1.70%
Outstanding Balance	$ 100,000	275,000
2015 Revolving Credit Facility - Multicurrency Tranche [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.20%
Effective Interest Rate	1.20%
Outstanding Balance	$ 22,760	21,724
3-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.85%
Effective Interest Rate	1.85%
Outstanding Balance	$ 300,000	300,000
5-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.85%
Effective Interest Rate	2.95%
Outstanding Balance	$ 750,000	750,000
7-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	2.19%
Effective Interest Rate	3.57%
Outstanding Balance	$ 175,000	175,000
Unsecured Revolving Credit and Term Loans [Member]
Line of Credit Facility [Line Items]
Outstanding Balance	$ 1,347,760	$ 1,521,724

Debt Obligations (Senior Unsecu

Debt Obligations (Senior Unsecured Notes) (Narrative) (Details) - USD ($) $ in Thousands	Dec. 17, 2015	Jan. 31, 2016	Mar. 31, 2016	Mar. 31, 2015
Debt Instrument [Line Items]
Proceeds from unsecured term loans and revolving credit facility			$ 0	$ 235,000
Notes Payable [Member] | Private Placement Senior Unsecured Notes [Member]
Debt Instrument [Line Items]
Proceeds from unsecured term loans and revolving credit facility	$ 100,000	$ 50,000
Interest Rate	4.97%

Debt Obligations (Exchangeable

Debt Obligations (Exchangeable Senior Notes) (Narrative) (Details) $ / shares in Units, $ in Thousands	Mar. 18, 2014USD ($)$ / shares	Mar. 31, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Dec. 17, 2015shares
Debt Instrument [Line Items]
Long-term Debt		$ 2,420,091
Outstanding Balance		350,687	$ 361,495
Reclassification of fair value of embedded exchange option on 3.75% exchangeable senior notes			11,726
Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 115,000
Convertible Debt [Member] | Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Face amount	$ 115,000
Interest Rate		3.75%
Maturity date		Mar. 15, 2019
Redemption price, percentage of principal amount redeemed		100.00%
Conversion ratio	40.2966	40.9434
Conversion of principal per share | $ / shares	$ 1
Conversion price (in usd per share) | $ / shares	$ 24.82
Debt, fair value	$ 106,689
Long-term Debt		$ 107,205	106,581
Unamortized discount and deferred financing costs		$ 7,795	$ 8,419
Chambers Street Properties [Member]
Debt Instrument [Line Items]
Shares issued to shareholders in acquisition (in shares) | shares				3.1898
Chambers Street Properties [Member] | Convertible Debt [Member] | Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Number of shares issued in acquisition (in shares) | shares		130.6013
Common Shares [Member] | Convertible Debt [Member] | Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Conversion ratio	128.5380
Conversion price (in usd per share) | $ / shares	$ 7.78	$ 7.66

Debt Obligations (Schedule of69

Debt Obligations (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
Total mortgage notes payable, net	$ 2,420,091
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016, interest	47,739
2017, interest	62,306
2018, interest	60,263
2019, interest	51,631
2020, interest	44,519
Thereafter, interest	58,373
Above market interest	2,278
Interest payments, total	327,109
Long-term Debt and Interest, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016, total	91,168
2017, total	127,521
2018, total	152,852
2019, total	495,467
2020, total	341,382
Thereafter, total	1,209,423
Net premium, total	2,278
Exchangeable Senior Notes 3.75% [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016	0
2,017	0
2,018	0
2,019	115,000
2,020	0
Thereafter	0
Total mortgage notes payable, net	115,000
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Above market interest	0
4.97% Unsecured Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016	0
2,017	0
2,018	0
2,019	0
2,020	0
Thereafter	150,000
Total mortgage notes payable, net	150,000
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Above market interest	0
Mortgages [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016	43,429
2,017	65,215
2,018	92,589
2,019	28,836
2,020	174,103
Thereafter	76,050
Total mortgage notes payable, net	480,222
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Above market interest	0
Unsecured Debt [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016	0
2,017	0
2,018	0
2,019	0
2,020	122,760
Thereafter	0
Total mortgage notes payable, net	122,760
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Above market interest	0
Term Loan [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
April 1 to December 31, 2016	0
2,017	0
2,018	0
2,019	300,000
2,020	0
Thereafter	925,000
Total mortgage notes payable, net	1,225,000
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Above market interest	$ 0

Leasing Agreements (Schedule of

Leasing Agreements (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Leases, Operating [Abstract]
April 1 to December 31, 2016	$ 253,796
2,017	331,621
2,018	315,992
2,019	293,720
2,020	260,728
Thereafter	1,421,528
Total minimum lease rental income	$ 2,877,385

Transactions with Trustee Rel71

Transactions with Trustee Related Entities and Related Parties (Narrative) (Details) € in Thousands, $ in Thousands	Jul. 31, 2014Property	Jan. 31, 2015USD ($)ft²Property	Mar. 31, 2016USD ($)ft²Propertydirector	Mar. 31, 2015USD ($)Property	Mar. 31, 2016EUR (€)ft²Propertydirector	Dec. 31, 2015USD ($)Property
Related Party Transaction [Line Items]
Investments in joint ventures | $			$ 527,269			$ 580,000
Number of Properties			40		40	41
Number of Properties	3		3	158
Purchase Price | $			$ 52,750	$ 3,726,563
KTR Capital Partners [Member]
Related Party Transaction [Line Items]
Number of Properties		3
Purchase Price | $		$ 19,750
Milwaukee, Wisconsin [Member] | KTR Capital Partners [Member]
Related Party Transaction [Line Items]
Area of real estate property | ft²		450,000
Chief Executive Officer [Member] | Gramercy Europe [Member]
Related Party Transaction [Line Items]
Investments in joint ventures			1,423		€ 1,250
Managing Directors [Member] | Gramercy Europe [Member]
Related Party Transaction [Line Items]
Investments in joint ventures			$ 1,423		€ 1,250
Gramercy Europe Asset [Member]
Related Party Transaction [Line Items]
Number of managing directors | director			2		2
Duke Joint Venture [Member]
Related Party Transaction [Line Items]
Number of Properties			9		9	13
Partially Owned Properties [Member] | Duke Joint Venture [Member]
Related Party Transaction [Line Items]
Number of Properties			1		1
Area of property leased | ft²			30,777		30,777
Area of real estate property | ft²			324,296		324,296
Proceeds from lease agreement | $			$ 176

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in net unrealized loss on derivative instruments	$ (22,189)	$ (2,132)
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	10,548		$ 420,485
Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	10,548		420,485
Chambers Street Properties [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	$ 10,522		$ 393,984

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Carrying Value and Fair Value of Financial Instruments) (Details) $ in Thousands	Mar. 31, 2016USD ($)Property	Dec. 31, 2015USD ($)Property
Financial assets:
Retained CDO Bonds, Carrying Value	$ 8,786	$ 7,471
Retained CDO Bonds, Fair Value	8,786	7,471
Equity method investment, Carrying Value	527,269	580,000
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	10,548	420,485
Financial liabilities:
Derivative instruments, Carrying Value	27,461	3,442
Derivative instruments, Fair Value	27,461	3,442
Line of credit, Carrying Value	122,760	296,724
Line of credit, Fair Value	123,294	297,394
Mortgage notes payable, Carrying Value	480,222	770,293
Mortgage notes payable, Fair Value	506,215	805,590
Senior Unsecured Notes, Carrying Value	150,000	100,000
Senior Unsecured Notes, Fair Value	156,254	100,528
Exchangeable senior notes, Carrying Value	107,205	109,394
Exchangeable senior notes, Fair Value	117,069	115,524
Long-term debt, Carrying Value	2,420,091
Cbre Strategic Partners Asia [Member]
Financial assets:
Investments, Fair Value	5,126	5,508
Equity method investment, Carrying Value	5,126	5,508
3-Year Term Loan [Member]
Financial liabilities:
Term Loans, Carrying Value	300,000	300,000
Term Loans, Fair Value	300,304	300,349
5-Year Term Loan [Member]
Financial liabilities:
Term Loans, Carrying Value	750,000	750,000
Term Loans, Fair Value	751,223	751,304
7-Year Term Loan [Member]
Financial liabilities:
Term Loans, Carrying Value	175,000	175,000
Term Loans, Fair Value	$ 175,024	$ 175,338
Assets Held-for-sale [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Number of properties held-for-sale | Property	1	6
Financial assets:
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	$ 10,548	$ 420,485
Mortgages [Member]
Financial liabilities:
Long-term debt, Carrying Value	480,222
Mortgages [Member] | Assets Held-for-sale [Member]
Financial liabilities:
Long-term debt, Carrying Value	260,704
Long-term debt, Fair Value	263,308
Chambers Street Properties [Member] | Assets Held-for-sale [Member]
Financial assets:
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	10,522	393,984
Real estate investments classified as held-for-sale at Merger closing, Fair Value	$ 10,522	$ 393,984

Fair Value Measurements (Sche74

Fair Value Measurements (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Estimate of Fair Value Measurement [Member] - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	$ 24,434	$ 406,963
Financial Liabilities:	27,461	3,442
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	27,461	3,442
Collateralized Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	8,786	7,471
Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:		393,984
Investments [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	5,126	5,508
Fair Value, Inputs, Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Financial Liabilities:	0	0
Fair Value, Inputs, Level 1 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	0	0
Fair Value, Inputs, Level 1 [Member] | Collateralized Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 1 [Member] | Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:		0
Fair Value, Inputs, Level 1 [Member] | Investments [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Financial Liabilities:	0	0
Fair Value, Inputs, Level 2 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	0	0
Fair Value, Inputs, Level 2 [Member] | Collateralized Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 2 [Member] | Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:		0
Fair Value, Inputs, Level 2 [Member] | Investments [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	24,434
Financial Liabilities:	27,461	3,442
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	27,461	3,442
Fair Value, Inputs, Level 3 [Member] | Collateralized Debt Obligations [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	8,786	7,471
Fair Value, Inputs, Level 3 [Member] | Treasury Securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:		393,984
Fair Value, Inputs, Level 3 [Member] | Investments [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	5,126	$ 5,508
Chambers Street Properties [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	10,522
Chambers Street Properties [Member] | Fair Value, Inputs, Level 1 [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0
Chambers Street Properties [Member] | Fair Value, Inputs, Level 2 [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0
Chambers Street Properties [Member] | Fair Value, Inputs, Level 3 [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	$ 10,522

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Recurring Basis, Valuation Techniques) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retained CDO Bonds, Fair Value	$ 8,786	$ 7,471
Cbre Strategic Partners Asia [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value	$ 5,126	$ 5,508
Discount rate	20.00%
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Derivative, Fair Value	$ 27,461
Collateralized Debt Obligations Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retained CDO Bonds, Fair Value	$ 8,786
Discount rate	22.50%
Minimum [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	1.35%
Maximum [Member] | Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Discount rate	2.10%

Fair Value Measurements (Fair76

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Adjustments to fair value:
Ending balance	$ 13,912
Collateralized Debt Obligations Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	7,471
Amortization of discounts or premiums	381
Adjustments to fair value:
Unrealized gain in other comprehensive income from fair value adjustment	934
Purchase price allocation adjustments	0
Ending balance	8,786
Cbre Strategic Partners Asia [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	5,508
Amortization of discounts or premiums	0
Adjustments to fair value:
Unrealized gain in other comprehensive income from fair value adjustment	(68)
Purchase price allocation adjustments	(314)
Ending balance	$ 5,126

Fair Value Measurements (Fair77

Fair Value Measurements (Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 3,442
Adjustments to fair value:
Ineffective portion of change in derivative instruments	1,830
Unrealized loss on derivatives	22,189
Ending balance	$ 27,461

Derivative and Non-Derivative78

Derivative and Non-Derivative Hedging Instruments (Schedule of Derivative Instruments) (Details) - Not Designated as Hedging Instrument [Member] € in Thousands, $ in Thousands	Mar. 31, 2016USD ($)	Mar. 31, 2016EUR (€)
Derivative [Line Items]
Fair Value	$ 27,461
Interest Rate Swap Strike Rate 4.55% [Member]
Derivative [Line Items]
Notional Value	$ 15,410
Strike Rate	4.55%	4.55%
Fair Value	$ 953
Interest Rate Swap Strike Rate 3.41% [Member]
Derivative [Line Items]
Notional Value	$ 10,310
Strike Rate	1.41%	1.41%
Fair Value	$ 62
Interest Rate Swap Strike Rate 3.78% [Member]
Derivative [Line Items]
Notional Value	$ 20,410
Strike Rate	1.78%	1.78%
Fair Value	$ 444
Interest Rate Swap Strike Rate 3.95% [Member]
Derivative [Line Items]
Notional Value	$ 6,048
Strike Rate	1.95%	1.95%
Fair Value	$ 188
Interest Rate Swap Strike Rate 2.95% [Member]
Derivative [Line Items]
Notional Value	$ 750,000
Strike Rate	1.60%	1.60%
Fair Value	$ 19,337
Interest Rate Swap Strike Rate 3.57% [Member]
Derivative [Line Items]
Notional Value	$ 175,000
Strike Rate	1.82%	1.82%
Fair Value	$ 6,477
Net Investment Hedge in Gramercy European Property Fund [Member]
Derivative [Line Items]
Notional Value | €		€ 20,000
Fair Value	$ 0

Derivative and Non-Derivative79

Derivative and Non-Derivative Hedging Instruments (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016USD ($)instrument	Mar. 31, 2015USD ($)
Derivative [Line Items]
Net liability of derivative	$ 27,461,000
Loss on derivative	(1,830,000)
Interest expense	21,953,000	$ 6,270,000
Amounts reclassified from OCI	9,145,000
2014 Term Loan [Member]
Derivative [Line Items]
Interest expense	315,000
Interest expense to be recognized	3,468,000
2015 Revolving Credit Facility [Member]
Derivative [Line Items]
Net liability of derivative	22,760,000
Loss on derivative	(1,036,000)
Senior Loans [Member] | 2014 Term Loan [Member]
Derivative [Line Items]
Face amount	$ 200,000,000
Interest Rate Swap [Member] | 2015 Revolving Credit Facility [Member]
Derivative [Line Items]
Number of derivative instruments | instrument	2
Interest Rate Swap [Member] | Mortgages [Member] | Chambers Street Properties [Member]
Derivative [Line Items]
Number of derivative instruments | instrument	3

Shareholders' Equity (Deficit80

Shareholders' Equity (Deficit) (Narrative) (Details)	Dec. 31, 2015$ / sharesshares	Feb. 28, 2015	Mar. 31, 2016$ / sharesshares	Feb. 29, 2016USD ($)	Dec. 17, 2015$ / sharesshares
Class of Stock [Line Items]
Capital units, authorized	1,000,000,000		1,000,000,000
Capital stock, par value (in usd per share) | $ / shares	$ 0.01		$ 0.01
Common stock, shares authorized	990,000,000		990,000,000
Common stock, par value (in usd per share) | $ / shares	$ 0.01		$ 0.01		$ 0.01
Cumulative redeemable preferred stock, shares authorized	10,000,000		10,000,000
Cumulative redeemable preferred stock, par value (in usd per share) | $ / shares	$ 0.01		$ 0.01
Common stock, shares issued	420,523,153		421,500,741
Common stock, dividends declared (in usd per share) | $ / shares	$ 0.11
Authorized repurchase amount | $				$ 100,000,000
Stock split conversion ratio		0.25
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Cumulative redeemable preferred stock, shares authorized			3,500,000
Cumulative redeemable preferred stock, par value (in usd per share) | $ / shares			$ 0.01
Cumulative redeemable preferred stock, shares issued			3,500,000
Chambers Street Properties [Member]
Class of Stock [Line Items]
Shares issued to shareholders in acquisition					3.1898

Shareholders' Equity (Deficit81

Shareholders' Equity (Deficit) (Preferred Stock) (Narrative) (Details) - $ / shares	Dec. 17, 2015	Mar. 31, 2016
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding		3,500,000
Preferred stock, redemption price per share (in usd per share)		$ 25
7.125% Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, dividend rate (in usd per share)		$ 1.78125
Chambers Street Properties [Member] | Series B Preferred Stock [Member]
Class of Stock [Line Items]
Shares issued in exchange (in shares)	3,500,000
Preferred stock, rate	7.125%
Chambers Street Properties [Member] | 7.125% Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, rate	7.125%

Shareholders' Equity (Deficit82

Shareholders' Equity (Deficit) (Equity Plan Summaries and Activities) (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended
	Jun. 30, 2015employeeshares	Mar. 31, 2016USD ($)shares	Mar. 31, 2015USD ($)	Dec. 31, 2015shares	Dec. 17, 2015shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted shares outstanding (in shares)		779,928		684,199
2012 Outperformance Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $		$ 488	$ 488
Share based compensation expense, not yet recognized | $		$ 2,438
Share based compensation expense, not yet recognized, period of recognition		15 months
2015 Equity Incentive Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)		2,820,792
2015 Equity Incentive Award [Member] | Time Based Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage	50.00%
Number of employees granted awards | employee	7
Grants in period (in shares)	308,444
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)		2,908,116
Shares vesting percentage		59.00%
Equity Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense | $		$ 483	$ 245
Share based compensation expense, not yet recognized | $		$ 6,879
Share based compensation expense, not yet recognized, period of recognition		42 months
Chambers Street Properties [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares issued to shareholders in acquisition (in shares)					3.1898

Shareholders' Equity (Deficit83

Shareholders' Equity (Deficit) (Deferred Stock Compensation Plan for Directors) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Dec. 31, 2015	Mar. 31, 2016
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Cash awarded		$ 916
Phantom Share Units (PSUs) [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Grants in period (in shares)	410,713
Director [Member] | Phantom Share Units (PSUs) [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Deferred fees, percentage		100.00%

Shareholders' Equity (Deficit84

Shareholders' Equity (Deficit) (Schedule of Calculation of Numerator and Denominator in Earnings Per Share) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 17, 2015
Numerator - Income (loss)
Net income (loss) from continuing operations	$ (5,693)	$ 24
Net income (loss) from discontinued operations	4,640	(62)
Net loss	(1,053)	(38)
Net loss attributable to noncontrolling interest	120	42
Nonforfeitable dividends allocated to unvested restricted shareholders	(199)	(19)
Preferred share dividends	(1,559)	(1,559)
Net income (loss) available to vested common shares outstanding	$ (2,691)	$ (1,574)
Weighted average basic shares outstanding (in shares)	420,181,216	149,115,357
Effect of dilutive securities
Unvested share based payment awards (in shares)	0	0
Option (in shares)	0	0
Phantom stock units (in shares)	0	0
OP Units (in shares)	0	0
Exchangeable Senior Notes (in shares)	0	0
Diluted shares (in shares)	420,181,216	149,115,357
Chambers Street Properties [Member]
Effect of dilutive securities
Shares issued to shareholders in acquisition (in shares)			3.1898

Shareholders' Equity (Deficit85

Shareholders' Equity (Deficit) (Earnings per Share) (Narrative) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Class of Stock [Line Items]
Weighted average common stock price, benchmark for exclusion of conversion premium (in usd per share)	$ 7.66	$ 7.76
Unvested restricted shares outstanding (in shares)	779,928		684,199
Equity Option [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS	16,336	50,058
Stock Compensation Plan [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS	2,883,465	2,039,175
Phantom Share Units (PSUs) [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS		488,778
OP Units [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS	1,374,302	1,701,391
Exchangeable Senior Notes [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS		1,737,718
Unvested Restricted Stock [Member]
Class of Stock [Line Items]
Value of securities excluded from computation of EPS	779,928	520,585

Shareholders' Equity (Deficit86

Shareholders' Equity (Deficit) (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Equity [Abstract]
Net unrealized gain on derivative securities	$ (28,263)	$ (6,074)
Net unrealized loss on debt instruments	1,944	1,010
Gain on net investment hedge	(1,022)	14
Other foreign currency translation adjustments	6,499	(656)
Reclassification of swap loss into interest expense	315	(45)
Total accumulated other comprehensive income (loss)	$ (20,527)	$ (5,751)

Noncontrolling Interest (Narrat

Noncontrolling Interest (Narrative) (Details) $ / shares in Units, $ in Thousands	Jul. 31, 2014Propertyshares	Mar. 31, 2016USD ($)Property$ / sharesshares	Mar. 31, 2015Property	Dec. 31, 2015USD ($)Property$ / sharesshares	Dec. 17, 2015$ / sharesshares
Noncontrolling Interest [Line Items]
Number of Properties | Property	3	3	158
Common stock, par value (in usd per share) | $ / shares		$ 0.01		$ 0.01	$ 0.01
Noncontrolling interest in operating partnership (in usd) | $		$ 11,334		$ 10,892
Noncontrolling interest in other partnerships | $		$ (377)		$ (249)
Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Temporary equity, shares issued	944,601
Temporary equity, shares outstanding		420,486
Capital shares reserved for future issuance		1,341,268
Ownership percentage by noncontrolling owners		0.32%
Shares converted		21,832		142,056
Chambers Street Properties [Member]
Noncontrolling Interest [Line Items]
Number of Properties | Property				29
Shares issued to shareholders in acquisition					3.1898

Noncontrolling Interest (Noncon

Noncontrolling Interest (Noncontrolling Interest in the Operating Partnership) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	$ 10,892
Issuance of noncontrolling interests in the Company’s operating partnerships	0
Redemption of noncontrolling interests in the Company’s operating partnerships	(523)
Net loss attribution	(8)
Fair value adjustments	1,207
Dividends	(234)
Balance at end of period	$ 11,334

Commitments and Contingencies89

Commitments and Contingencies (Narrative) (Details) € in Thousands, $ in Thousands	1 Months Ended		3 Months Ended
	Apr. 30, 2015USD ($)	Dec. 31, 2010USD ($)	Mar. 31, 2016USD ($)lawsuit	Mar. 31, 2015USD ($)	Mar. 31, 2016EUR (€)lawsuit	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Ownership %		45.00%
Proceeds from sale of joint venture to director related entity		$ 25,600
Carrying amount of mortgages		86,100
Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Contingency accrual			$ 8,000
The Company [Member] | Gramercy Europe [Member]
Commitments And Contingencies [Line Items]
Initial equity capital available			56,900		€ 50,000	$ 56,900	€ 50,000
New York State Division Of Taxation and Finance | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Interest accrued			0	$ 68
NYC DOF [Member]
Commitments And Contingencies [Line Items]
Tax settlement	$ 4,025
NYC DOF [Member] | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Real estate tax expense		2,924
NYS DOT [Member]
Commitments And Contingencies [Line Items]
Tax settlement	$ 617
NYS DOT [Member] | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Real estate tax expense		$ 446
Minimum [Member] | Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			8,000
Maximum [Member] | Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			13,000
Chambers Street Properties [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			1,000
Bank of America Portfolio [Member]
Commitments And Contingencies [Line Items]
Rent expense on ground leases			451	$ 384
Proportion Foods [Member]
Commitments And Contingencies [Line Items]
Amount committed			24,950
Proportion Foods [Member] | Proportion Foods [Member]
Commitments And Contingencies [Line Items]
Amount committed			20,838
Amount funded			8,270
Gramercy European Property Fund [Member]
Commitments And Contingencies [Line Items]
Amount funded			$ 28,134		€ 25,358	$ 25,663	€ 23,160
Ownership %			19.80%		19.80%
Lawsuits filed in New York [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			2		2
Lawsuits filed in Baltimore City [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			4		4
Original lawsuits filed in Baltimore City [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			2		2

Commitments and Contingencies90

Commitments and Contingencies (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Ground Leases - Operating
April 1 to December 31, 2016, operating	$ 1,374
2017, operating	1,728
2018, operating	1,728
2019, operating	1,707
2020, operating	1,732
Thereafter, operating	47,991
Total minimum rent expense, operating	56,260
Ground Leases - Capital
April 1 to December 31, 2016, capital	0
2017, capital	0
2018, capital	0
2019, capital	0
2020, capital	0
Thereafter, capital	329
Total minimum rent expense, capital	329
Total
April 1 to December 31, 2016	1,374
2,017	1,728
2,018	1,728
2,019	1,707
2,020	1,732
Thereafter	48,320
Total minimum rent expense	$ 56,589

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Total income tax benefit (provision)	$ 703	$ 1,114

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016segment
Segment Reporting [Abstract]
Number of operating segments	2
Number of reportable segments	2

Segment Reporting (Evaluation o

Segment Reporting (Evaluation of Performance by Segment) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 120,545	$ 47,935
Equity in net loss from unconsolidated equity investments	(2,755)	(1)
Total operating and interest expense	(123,483)	(47,910)
Income (loss) from continuing operations	(5,693)	24
Assets:
Total assets	5,348,309		$ 5,834,518
Depreciation and amortization	58,248	18,698
Total income tax benefit (provision)	703	1,114
Operating Segments [Member] | Asset Management [Member]
Segment Reporting Information [Line Items]
Total revenues	5,151	8,179
Equity in net loss from unconsolidated equity investments	0	0
Total operating and interest expense	(5,459)	(6,673)
Income (loss) from continuing operations	(308)	1,506
Assets:
Total assets	11,216		5,882
Operating Segments [Member] | Investments/Corporate [Member]
Segment Reporting Information [Line Items]
Total revenues	115,394	39,756
Equity in net loss from unconsolidated equity investments	(2,755)	(1)
Total operating and interest expense	(118,024)	(41,237)
Income (loss) from continuing operations	(5,385)	$ (1,482)
Assets:
Total assets	$ 5,337,093		$ 5,828,636

Supplemental Cash Flow Inform94

Supplemental Cash Flow Information (Non-Cash Activities Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Supplemental Cash Flow Elements [Abstract]
Interest paid	$ 20,638	$ 5,769
Income taxes paid	322	167
Proceeds from 1031 exchanges from sale of real estate	175,808	0
Use of funds from 1031 exchanges for acquisitions of real estate	(30,308)	0
Non-cash activity:
Fair value adjustment to noncontrolling interest in the operating partnership	1,207	350
Debt assumed in acquisition of real estate	0	141,033
Debt transferred in disposition of real estate	(101,432)	0
Redemption of units of noncontrolling interest in the operating partnership for common shares	(524)	(2,631)
Deferred losses and other non-cash activity related to derivatives	(22,189)	(2,132)
Change in net unrealized loss on securities available for sale	934	5,750
Non-cash effect of foreign currency translation adjustments	$ 6,119	$ (218)

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Thousands	1 Months Ended	3 Months Ended
	May. 04, 2016USD ($)ft²Property	Mar. 31, 2016ft²	Mar. 31, 2015ft²	May. 31, 2016
Subsequent Event [Line Items]
Area of real estate acquired		621,646	33,800,146
Subsequent Event [Member]
Subsequent Event [Line Items]
Number of buildings included in portfolio | Property	12
Area of real estate acquired	1,439,696
Purchase price of real estate | $	$ 115,159
Percentage of area leased property	100.00%
Goodman Europe [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage		80.00%
Gramercy European Property Fund [Member] | Goodman Europe [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage				20.00%