Gramercy Property Trust 10-Q 7 Nov 16 2016 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 02, 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	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Common Stock, Shares Outstanding		421,979,096

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Real estate investments, at cost:
Land	$ 734,058	$ 702,557
Building and improvements	3,538,377	3,313,747
Less: accumulated depreciation	(169,103)	(84,627)
Total real estate investments, net	4,103,332	3,931,677
Cash and cash equivalents	56,352	128,031
Restricted cash	171,895	17,354
Investment in unconsolidated equity investments	120,176	580,000
Servicing advances receivable	0	1,382
Retained CDO bonds	8,439	7,471
Assets held for sale, net	11,009	420,485
Tenant and other receivables, net	69,131	34,234
Acquired lease assets, net of accumulated amortization of $123,754 and $54,323	584,856	682,174
Deferred costs, net of accumulated amortization of $3,074 and $892	24,835	13,950
Goodwill	3,141	3,568
Other assets	30,064	14,192
Total assets	5,183,230	5,834,518
Liabilities:
Senior unsecured revolving credit facility	163,365	296,724
Exchangeable senior notes, net	108,186	106,581
Mortgage notes payable, net	368,386	530,222
Total long-term debt, net	2,013,915	2,257,651
Accounts payable and accrued expenses	48,412	59,808
Dividends payable	46,740	8,980
Accrued interest payable	5,180	4,546
Deferred revenue	31,343	36,031
Below market lease liabilities, net of accumulated amortization of $27,055 and $17,083	224,643	242,456
Liabilities related to assets held for sale	129	291,364
Derivative instruments, at fair value	28,613	3,442
Other liabilities	10,080	8,271
Total liabilities	2,409,055	2,912,549
Commitments and contingencies
Noncontrolling interest in the Operating Partnership	9,076	10,892
Equity:
Common shares, par value $0.01, 421,978,800 and 420,523,153 issued and outstanding at September 30, 2016 and December 31, 2015, respectively.	4,220	4,205
Additional paid-in-capital	3,883,873	3,879,932
Accumulated other comprehensive loss	(38,717)	(5,751)
Accumulated deficit	(1,168,502)	(1,051,454)
Total shareholders' equity	2,765,268	2,911,326
Noncontrolling interest in other partnerships	(169)	(249)
Total equity	2,765,099	2,911,077
Total liabilities and equity	5,183,230	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 September 30, 2016 and December 31, 2015.	84,394	84,394
Notes Payable [Member]
Liabilities:
Unsecured debt	148,978	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	Sep. 30, 2016	Dec. 31, 2015
Acquired lease assets, accumulated amortization (in dollars)	$ 112,588	$ 54,323
Deferred costs, accumulated amortization (in dollars)	2,319	892
Below market lease liabilities, accumulated amortization (in dollars)	$ 28,785	$ 17,083
Common stock, par value (in usd per share)	$ 0.01	$ 0.01
Common stock, shares issued	421,978,800	420,523,153
Common stock, shares outstanding	421,978,800	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	$ 0.01
Cumulative redeemable preferred stock, liquidation preference (in dollars)	$ 87,500	$ 87,500
Cumulative redeemable preferred stock, shares authorized	3,500,000	3,500,000
Cumulative redeemable preferred stock, shares issued	3,500,000	3,500,000
Cumulative redeemable preferred stock, shares outstanding	3,500,000	3,500,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues
Rental revenue	$ 100,847,000	$ 47,235,000	$ 291,459,000	$ 117,990,000
Third-party management fees	7,172,000	5,153,000	30,528,000	17,571,000
Operating expense reimbursements	21,231,000	11,237,000	65,718,000	29,113,000
Investment income	544,000	445,000	1,490,000	1,208,000
Other income	1,298,000	1,143,000	1,867,000	1,413,000
Total revenues	131,092,000	65,213,000	391,062,000	167,295,000
Operating Expenses
Property operating expenses	22,685,000	11,051,000	70,364,000	29,006,000
Property management expenses	4,810,000	4,780,000	14,922,000	14,557,000
Depreciation and amortization	62,863,000	25,120,000	181,649,000	68,534,000
General and administrative expenses	8,165,000	4,748,000	23,892,000	14,299,000
Acquisition and merger-related expenses	1,272,000	6,547,000	5,994,000	13,508,000
Total operating expenses	99,795,000	52,246,000	296,821,000	139,904,000
Operating Income	31,297,000	12,967,000	94,241,000	27,391,000
Other Expense:
Interest expense	(18,409,000)	(9,227,000)	(57,271,000)	(23,225,000)
Equity in net loss of unconsolidated equity investments	(1,138,000)	(1,096,000)	(4,061,000)	(974,000)
Gain on dissolution of previously held U.S. unconsolidated equity investment interests	0	0	7,229,000	0
Loss on extinguishment of debt	(13,777,000)	0	(20,890,000)	0
Impairment of real estate investments	(1,053,000)	0	(1,053,000)	0
Income (loss) from continuing operations before provision for taxes	(3,080,000)	2,644,000	18,195,000	3,192,000
Provision for taxes	(331,000)	(985,000)	(3,734,000)	(2,116,000)
Income (loss) from continuing operations	(3,411,000)	1,659,000	14,461,000	1,076,000
Income (loss) from discontinued operations	347,000	(41,000)	3,115,000	17,000
Gain on extinguishment of debt	0	0	1,930,000	0
Income (loss) from discontinued operations	347,000	(41,000)	5,045,000	17,000
Income (loss) before gains on disposals	(3,064,000)	1,618,000	19,506,000	1,093,000
Net gains on disposals	2,336,000	392,000	2,336,000	593,000
Gain on sale of European unconsolidated equity investment interests held with a related party	0	0	5,341,000	0
Net income (loss)	(728,000)	2,010,000	27,183,000	1,686,000
Net income (loss) attributable to noncontrolling interest	(221,000)	(20,000)	(152,000)	43,000
Net income (loss) attributable to Gramercy Property Trust	(949,000)	1,990,000	27,031,000	1,729,000
Preferred share dividends	(1,559,000)	(1,559,000)	(4,676,000)	(4,676,000)
Net income (loss) available to common shareholders	$ (2,508,000)	$ 431,000	$ 22,355,000	$ (2,947,000)
Basic earnings per share:
Net income (loss) from continuing operations, after preferred dividends (in usd per share)	$ (0.01)	$ 0	$ 0.04	$ (0.02)
Net income from discontinued operations (in usd per share)	0	0	0.01	0
Net income (loss) available to common stockholders (in usd per share)	(0.01)	0	0.05	(0.02)
Diluted earnings per share:
Net income (loss) from continuing operations, after preferred dividends (in usd per share)	(0.01)	0	0.04	(0.02)
Net income from discontinued operations (in usd per share)	0	0	0.01	0
Net income (loss) available to common stockholders (in usd per share)	$ (0.01)	$ 0	$ 0.05	$ (0.02)
Basic weighted average common shares outstanding (in shares)	420,772,508	183,945,495	423,542,467	169,781,590
Diluted weighted average common shares and common share equivalents outstanding (in shares)	420,772,508	187,683,631	427,163,126	169,781,590

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Comprehensive Income (Loss) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ (728)	$ 2,010	$ 27,183	$ 1,686
Other comprehensive income (loss):
Unrealized gain (loss) on available for sale debt securities	(1,426)	368	(459)	6,129
Unrealized gain (loss) on derivative instruments	7,653	(2,584)	(25,996)	(3,248)
Reclassification of accumulated foreign currency translation adjustments due to disposal	0	0	(3,737)	0
Foreign currency translation adjustments	(1,120)	(360)	(3,687)	(309)
Reclassification of unrealized loss on terminated derivative instruments into earnings	282	0	913	0
Other comprehensive income (loss)	5,389	(2,576)	(32,966)	2,572
Comprehensive income (loss)	4,661	(566)	(5,783)	4,258
Net (income) loss attributable to noncontrolling interest	(221)	(20)	(152)	43
Other comprehensive (income) loss attributable to noncontrolling interest	(13)	21	102	(32)
Comprehensive income (loss) attributable to Gramercy Property Trust	$ 4,427	$ (565)	$ (5,833)	$ 4,269

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Shareholders' Equity (Deficit) and Noncontrolling Interests - 9 months ended Sep. 30, 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 income	27,121	27,031					27,031	90
Change in net unrealized loss on derivative instruments	(25,996)	(25,996)				(25,996)
Change in net unrealized gain on debt securities	(459)	(459)				(459)
Reclassification of unrealized loss on terminated derivative instruments into earnings	913	913				913
Offering costs	(105)	(105)			(105)
Share based compensation - fair value (in shares)			938,448
Share based compensation - fair value	2,476	2,476	$ 10		2,466
Proceeds from stock options exercised (in shares)			47,844
Proceeds from share options exercised	167	167			167
Conversion of OP Units to commons shares (in shares)			469,355
Conversion of OP Units to common shares	4,159	4,159	$ 5		4,154
Reallocation of noncontrolling interest in the Operating Partnership	(2,741)	(2,741)			(2,741)
Reclassification of accumulated foreign currency translation adjustments due to disposal	(3,737)	(3,737)				(3,737)
Foreign currency translation adjustment	(3,697)	(3,687)				(3,687)		(10)
Dividends on preferred shares	(4,676)	(4,676)					(4,676)
Dividends on common shares	$ (139,403)	(139,403)					(139,403)
Balance (in shares) at Sep. 30, 2016	421,978,800		421,978,800
Balance at Sep. 30, 2016	$ 2,765,099	$ 2,765,268	$ 4,220	$ 84,394	$ 3,883,873	$ (38,717)	$ (1,168,502)	$ (169)

Condensed Consolidated Stateme7

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Operating Activities:
Net income	$ 27,183	$ 1,686
Adjustments to net cash provided by operating activities:
Depreciation and amortization	181,649	68,534
Amortization of acquired leases to rental revenue and expense	(10,332)	(10,365)
Amortization of deferred costs	1,177	2,192
Amortization of discounts and other fees	(3,636)	(2,069)
Amortization of lease inducement costs	259	183
Straight-line rent adjustment	(19,084)	(8,940)
Non-cash impairment charges	1,053	0
Net gain on sale of properties	(2,336)	(593)
Distributions received from unconsolidated equity investments	48,235	309
Equity in net income of unconsolidated equity investments	4,061	974
Gain from dissolution of previously held unconsolidated equity investment interests	(7,229)	0
Gain from sale of unconsolidated equity investment interests held with a related party	(5,341)	0
Loss on extinguishment of debt	18,960	0
Amortization of share-based compensation	3,704	2,628
Other non-cash adjustments	23	(49)
Changes in operating assets and liabilities:
Restricted cash	5,267	(938)
Payment of capitalized leasing costs	(11,910)	(3,001)
Tenant and other receivables	(19,890)	(1,417)
Accrued interest	(8)	(30)
Other assets	(16,683)	11,864
Accounts payable, accrued expenses and other liabilities	(16,945)	1,040
Deferred revenue	(8,438)	3,993
Net cash provided by operating activities	169,739	66,001
Investing Activities:
Capital expenditures	(18,711)	(2,362)
Distributions from investing activities received from unconsolidated equity investments	84,588	0
Proceeds from sale of unconsolidated equity interests held with a related party	148,884	0
Proceeds from sale of real estate	860,783	68,779
Restricted cash held in escrow for 1031 exchange	(157,347)	0
Contributions to unconsolidated equity investments	(33,632)	(10,834)
Acquisition of real estate	(540,596)	(879,551)
Restricted cash for tenant improvements	7,058	(6,908)
Proceeds from repayments of servicing advances receivable	1,390	0
Net cash provided by (used in) investing activities	352,417	(830,876)
Financing Activities:
Proceeds from unsecured term loans and revolving credit facility	306,466	685,120
Proceeds from senior unsecured notes	50,000	0
Repayment of unsecured term loans and revolving credit facility	(440,000)	(315,000)
Acquisition of treasury bonds for defeasance	(144,063)	0
Proceeds from mortgage notes payable	9,550	0
Repayment of mortgage notes payable	(251,266)	(4,049)
Offering costs	(105)	(12,121)
Proceeds from sale of common stock	0	289,910
Payment of deferred financing costs	(1,734)	(4,602)
Payment of debt extinguishment costs	(15,868)	0
Preferred share dividends paid	(4,676)	(4,676)
Common share dividends paid	(101,804)	(31,537)
Proceeds from exercise of stock options and employee purchases under the employee share purchase plan	167	54
Contributions from noncontrolling interests in other entities	0	169
Distribution to noncontrolling interest holders	(303)	(318)
Change in restricted cash from financing activities	(62)	(37)
Net cash provided by (used in) financing activities	(593,698)	602,913
Net decrease in cash and cash equivalents	(71,542)	(161,962)
Decrease in cash and cash equivalents related to foreign currency translation	(137)	1
Cash and cash equivalents at beginning of period	128,031	200,069
Cash and cash equivalents at end of period	$ 56,352	$ 38,108

Business and Organization

Business and Organization	9 Months Ended
	Sep. 30, 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 rental revenues on properties that it owns in the United States and asset management revenues on properties owned by third parties in the United States and Europe. The Company also owns 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 its subsidiaries for the periods prior to the Merger closing and Gramercy Property Trust and one or more of its subsidiaries for periods following the Merger closing. As of September 30, 2016 , the Company’s wholly-owned portfolio consists of 295 properties comprising 53,306,568 rentable square feet with 98.5% occupancy. As of September 30, 2016 , the Company has ownership interests in 46 industrial and office properties with 97.6% occupancy, which are held in unconsolidated equity investments. As of September 30, 2016 , the Company’s asset management business, which operates under the name Gramercy Asset Management, manages for third parties approximately $1,200,000 of commercial real estate assets, including approximately $871,000 of assets in Europe. In August 2016, the Company and TPG Real Estate, or TPG, partnered to form Strategic Office Partners, an unconsolidated equity investment that will invest in single-tenant office properties in the United States. The Company contributed six properties to Strategic Office Partners valued at $187,500 and, in exchange, the Company received cash proceeds of $140,625 , equivalent to TPG’s 75.0% interest in the venture, plus a 25.0% interest in Strategic Office Partners valued at $46,608 . Concurrently with the initial funding of Strategic Office Partners, the Company received a distribution of $30,581 representing its pro rata share of loan proceeds, resulting in an initial equity investment of $16,027 . During the three months ended September 30, 2016 , the Company acquired 16 properties aggregating 2,795,476 square feet for a total purchase price of approximately $237,432 . During the nine months ended September 30, 2016 , the Company acquired 48 properties aggregating 11,464,734 square feet for a total purchase price of approximately $862,341 . Additionally, on June 30, 2016, the Company received 100.0% ownership of seven properties previously held in its joint venture with Duke Realty Corporation through a distribution of real estate assets by the joint venture, which had an aggregate 4,189,630 square feet and total fair value of $276,100 . During the three months ended September 30, 2016 , the Company sold ten properties aggregating 2,435,130 square feet for total gross proceeds of approximately $394,241 . During the nine months ended September 30, 2016 , the Company sold 20 properties aggregating 5,070,129 square feet for total gross proceeds of approximately $1,041,941 . Of the properties sold during the three months ended September 30, 2016 , six properties comprising an aggregate 980,825 square feet and with total value of $187,500 were contributed to Strategic Office Partners. Additionally, on June 30, 2016, the Company sold 74.9% of its 80.0% interest in its European joint venture with the Goodman Group to its unconsolidated equity investment in Europe, Gramercy Property Europe plc, or the Gramercy European Property Fund, for gross proceeds of $148,884 ( €134,336 ). 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 equity 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 of the Operating Partnership. In April 2016, the common units of limited partnership interest in Legacy Gramercy’s operating partnership were exchanged for common units of limited partnership interest in GPT Operating Partnership LP, or OP Units, and the Company’s partnership agreement was amended and restated to reflect the exchange, or the Fourth Amended and Restated Partnership Agreement. The Operating Partnership is the 100.0% owner of all of its direct and indirect subsidiaries, except that, as of September 30, 2016 , third-party holders of limited partnership interests in the Operating Partnership owned approximately 0.22% of the beneficial interest of the Company. These interests are referred to as the noncontrolling interests in the Operating Partnership. See Note 12 for more information on the Company’s noncontrolling interests.

Significant Accounting Policies

Significant Accounting Policies	9 Months Ended
	Sep. 30, 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, they do 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 Partnership 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 reviews the recoverability of a property’s carrying value when circumstances indicate a possible impairment in 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: September 30, 2016 December 31, 2015 Intangible assets: In-place leases, net of accumulated amortization of $108,993 and $49,125 $ 514,659 $ 644,540 Above-market leases, net of accumulated amortization of $14,519 and $5,051 65,663 94,202 Below-market ground rent, net of accumulated amortization of $242 and $147 5,141 5,236 Amounts related to assets held for sale, net of accumulated amortization of $0 (607 ) (61,804 ) Total intangible assets $ 584,856 $ 682,174 Intangible liabilities: Below-market leases, net of accumulated amortization of $26,836 and $16,934 $ 221,191 $ 255,452 Above-market ground rent, net of accumulated amortization of $219 and $149 3,452 3,522 Amounts related to liabilities of assets held for sale, net of accumulated amortization of $0 — (16,518 ) Total intangible liabilities $ 224,643 $ 242,456 The following table provides the weighted-average amortization period as of September 30, 2016 for intangible assets and liabilities and the projected amortization expense for the next five years. Weighted-Average Amortization Period October 1 to December 31, 2016 2017 2018 2019 2020 In-place leases 10.1 $ 22,804 $ 80,438 $ 72,120 $ 61,496 $ 50,429 Total to be included in depreciation and amortization expense $ 22,804 $ 80,438 $ 72,120 $ 61,496 $ 50,429 Above-market lease assets 7.8 $ 3,434 $ 11,807 $ 10,653 $ 9,522 $ 7,402 Below-market lease liabilities 20.2 (3,853 ) (12,455 ) (12,328 ) (12,160 ) (11,930 ) Total to be included in rental revenue $ (419 ) $ (648 ) $ (1,675 ) $ (2,638 ) $ (4,528 ) Below-market ground rent 41.6 $ 32 $ 127 $ 127 $ 127 $ 127 Above-market ground rent 36.8 (23 ) (94 ) (94 ) (94 ) (94 ) Total to be included in property operating expense $ 9 $ 33 $ 33 $ 33 $ 33 The Company recorded $29,670 and $9,808 of amortization of in-place lease intangible assets as part of depreciation and amortization for the three months ended September 30, 2016 and 2015 , respectively. The Company recorded $86,845 and $27,947 of amortization of in-place lease intangible assets as part of depreciation and amortization for the nine months ended September 30, 2016 and 2015 , respectively. The Company recorded $4,578 and $4,309 of amortization of market lease intangible assets and liabilities as an increase to rental revenue for the three months ended September 30, 2016 and 2015 , respectively. The Company recorded $10,388 and $10,359 of amortization of market lease intangible assets and liabilities as an increase to rental revenue for the nine months ended September 30, 2016 and 2015 , respectively. The Company recorded $8 and $(1) of amortization of ground rent intangible assets and liabilities as part of other property operating expense for the three months ended September 30, 2016 and 2015 , respectively. The Company recorded $25 and $(41) of amortization of ground rent intangible assets and liabilities as part of other property operating expense for the nine months ended September 30, 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 Limited, or 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 September 30, 2016 and December 31, 2015 was $3,141 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 nine months ended September 30, 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% unconsolidated equity investment in CBRE Strategic Partners Asia, 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 this 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 $120,176 and $580,000 at September 30, 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 $171,895 and $17,354 at September 30, 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. Under the revised guidance, the Company’s operating partnerships, including both GPT Operating Partnership, or the Operating Partnership, and Gramercy Operating Partnership, which is Legacy Gramercy’s operating partnership, were determined to be VIEs, for which the Company was the primary beneficiary due to its majority ownership and ability to exercise control over every aspect of the partnerships’ operations. Because the operating partnerships were already consolidated in the Company’s balance sheets, the revised guidance had no impact on the Company’s Consolidated Financial Statements. 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 that were determined to be VIEs under the revised guidance. Following the adoption of the Company’s Fourth Amended and Restated Partnership Agreement, which was effective in April 2016, the Company’s Operating Partnership became its active operating partnership entity and Legacy Gramercy’s operating partnership became a disregarded entity. The assets and liabilities of the Company and its Operating Partnership are substantially the same, as the Company does not have any significant assets other than its investments in the Operating Partnership. All of the Company's debt is also an obligation of the Operating Partnership. The Company had three consolidated VIEs as of September 30, 2016 and two consolidated VIEs as of December 31, 2015 . The Company had four unconsolidated VIEs as of September 30, 2016 and December 31, 2015 . The following is a summary of the Company’s involvement with VIEs as of September 30, 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 Partnership $ 5,183,230 $ 2,409,055 $ 5,183,230 $ 2,409,055 Proportion Foods $ 16,850 $ 4,494 $ 16,850 $ 17,343 Gramercy Europe Asset Management (European Fund Manager) $ 1,028 $ 13 $ 1,028 $ 1,366 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 37 $ — Retained CDO Bonds $ 8,439 $ — $ 1,022,686 $ 1,117,564 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. Concurrently, the Company entered into a forward purchase agreement with BIG, pursuant to which the Company will acquire the property, which is 100.0% leased to Proportion Foods, or 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 completed 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 September 30, 2016 , the Company has funded $12,849 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 the 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 the Gramercy European Property Fund. The Company has determined that European Fund Carry Co. is a VIE, as the equity holders of the 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 the 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 September 30, 2016 and December 31, 2015 , European Fund Carry Co. had net assets of $37 and $(5) . Investment in Retained CDO Bonds The Company holds non-investment grade subordinate bonds, preferred shares and ordinary shares of three collateralized debt obligations, or the Retained CDO Bonds, which it 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 collateralized debt obligations, or 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 September 30, 2016 and December 31, 2015 , the Company had one and six assets classified as held for sale, respectively, which represent 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 September 30, 2016 and December 31, 2015 were $43 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 client’s 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 on 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 of 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 September 30, 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 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 cl

Dispositions, Assets Held for S

Dispositions, Assets Held for Sale, and Discontinued Operations	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2016 , the Company sold ten and 20 properties, respectively. The 20 properties sold in 2016 comprised an aggregate 5,070,129 square feet. The property sales generated gross proceeds of $394,241 and $1,041,941 during the three and nine months ended September 30, 2016 , respectively. Of the properties sold during the three months ended September 30, 2016 , six properties comprising an aggregate 980,825 square feet and with a total value of $187,500 were contributed to Strategic Office Partners, in which the Company has a 25.0% interest. Refer to Note 5 for further information on Strategic Office Partners. The Company recognized an impairment on real estate investments of $1,053 during the three and nine months ended September 30, 2016 related to the properties sold during the period. The Company recognized $2,336 in gains on disposals during the three and nine months ended September 30, 2016. Of the properties sold in 2016, 16 of the sales were structured as like-kind exchanges within the meaning of Section 1031 of the IRC. As a result of the sales, the Company deposited $617,873 of the total sales proceeds into an IRC Section 1031 exchange escrow account with a qualified intermediary. The Company then used $460,191 of these funds as consideration for 36 property acquisitions during the nine months ended September 30, 2016 . Five of the properties sold during the nine months ended September 30, 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, and are thus included in discontinued operations for all periods presented. During the three and nine months ended September 30, 2015 , the Company sold two and five properties, respectively. The five properties sold in the nine months ended September 30, 2015 comprised an aggregate 336,000 square feet. The property sales generated gross proceeds of $70,100 and $78,719 during the three and nine months ended September 30, 2015, respectively. The Company recognized $392 and $742 in gains on disposals during the three and nine months ended September 30, 2015, respectively. The Company recognized impairments of $0 and $149 during the three and nine months ended September 30, 2015 , respectively. Three o f the properties sold in 2015 were structured as like-kind exchanges within the meaning of Section 1031 of the IRC. As a result of the sales, the Company deposited $8,619 of the total sales proceeds into an IRC Section 1031 exchange escrow account with a qualified intermediary. The Company then used $8,619 of these funds as consideration for two property acquisitions during the nine months ended September 30, 2015 . 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 September 30, 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 and nine months ended September 30, 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 September 30, 2016 and December 31, 2015 : Assets held for sale September 30, 2016 December 31, 2015 Real estate investments $ 9,950 $ 348,582 Acquired lease assets 607 61,804 Other assets 452 10,099 Total assets 11,009 420,485 Liabilities related to assets held for sale Mortgage notes payable, net — 260,704 Below-market lease liabilities — 16,518 Other liabilities 129 14,142 Total liabilities 129 291,364 Net assets held for sale $ 10,880 $ 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 and nine months ended September 30, 2016 and 2015 are included in discontinued operations for all periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Operating Results: Revenues $ 262 $ 19 $ 6,258 $ (10 ) Operating expenses (58 ) (46 ) (2,293 ) 202 General and administrative expense (3 ) (14 ) (41 ) (175 ) Interest expense 148 — (807 ) — Depreciation and amortization (2 ) — (2 ) — Gain on extinguishment of debt — — 1,930 — Net income from discontinued operations $ 347 $ (41 ) $ 5,045 $ 17 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 nine months ended September 30, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Nine Months Ended September 30, 2016 2015 Amortization expense $ 2 $ — Significant operating noncash items (9,647 ) — Total $ (9,645 ) $ —

Real Estate Investments

Real Estate Investments	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments Property Acquisitions During the nine months ended September 30, 2016 , the Company acquired 48 properties comprising 11,464,734 square feet for an aggregate purchase price of approximately $862,341 . The acquisitions in 2016 include seven properties distributed to the Company from the Duke JV which comprise 4,189,630 square feet and a build-to-suit property with projected 240,800 square feet. The Company previously owned an 80.0% interest in these properties through its interest in the joint venture. The fair value of these properties at 100.0% was $276,100 . During the year ended December 31, 2015, the Company acquired 144 properties comprising 33,800,146 square feet for an aggregate purchase price of approximately $3,726,563 . The acquisitions in 2015 include 95 properties acquired as part of the Merger which comprise 24,560,739 square feet and a build-to-suit property with projected 200,411 square feet. The Company recorded revenues and net income for the three months ended September 30, 2016 of $1,835 and $706 , respectively, related to its real estate acquisitions during the period. The Company recorded revenues and net income for the nine months ended September 30, 2016 of $21,054 and $6,628 , respectively, related to its acquisitions during the period. The Company recorded revenues and net income for the three months ended September 30, 2015 of $1,335 and $543 , respectively, related to its real estate acquisitions during the period. The Company recorded revenues and net income for the nine months ended September 30, 2015 of $38,055 and $10,802 , respectively, related to its acquisitions during the period. Property Purchase Price Allocations The Company is currently analyzing the fair value of the lease and real estate assets of 26 and one of its property investments acquired in 2016 and 2015, respectively, and accordingly, the purchase price allocations for these properties 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 Nine Months Ended September 30, 2016 26 $ 420,685 $ 62,425 $ 11,648 Year Ended December 31, 2015 (1) 1 $ 7,947 $ — $ — (1) Allocations exclude the properties acquired as part of the Merger, which are separately disclosed below in the section, “Merger with Chambers.” Additionally, allocations shown represent the real estate assets of Proportion Foods, a consolidated VIE. Refer to Note 2 for more information on Proportion Foods. During the nine months ended September 30, 2016 and the year ended December 31, 2015 , the Company finalized the purchase price allocations for 34 and 136 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, are shown in the table below: Preliminary Allocations recorded Finalized Allocations recorded Period Finalized No. of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Real Estate Assets Intangible Assets Intangible Liabilities Increase (Decrease) to Rental Revenue Increase to Depreciation and Amortization Expense Nine Months Ended September 30, 2016 34 $ 701,513 $ 6,049 $ 1,037 $ 665,748 $ 48,499 $ 7,722 $ (30 ) $ (7 ) Year Ended December 31, 2015 (1) 136 $ 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 a portfolio of properties primarily leased to Bank of America, N.A. Pro Forma The following table summarizes, on an unaudited pro forma basis, the Company’s combined results of operations for the three and nine months ended September 30, 2016 and 2015 as though the acquisitions closed during the three and nine months ended September 30, 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 September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Pro forma revenues (1) $ 126,644 $ 121,652 $ 378,674 $ 363,337 Pro forma net income available to common shareholders (1), (2) $ (5,643 ) $ 13,157 $ 16,729 $ 41,706 Pro forma income per common share-basic $ (0.01 ) $ 0.07 $ 0.04 $ 0.25 Pro forma income per common share-diluted $ (0.01 ) $ 0.07 $ 0.04 $ 0.24 Pro forma common shares-basic 420,772,508 183,945,495 423,542,467 169,781,590 Pro forma common share-diluted 420,772,508 187,683,631 427,163,126 175,551,239 (1) The pro forma results for all periods presented include adjustments to reflect the Company’s continuing 5.1% interest in the Goodman Europe JV, its 100.0% interest in the seven properties it received through distribution from the Duke JV on June 30, 2016, and its 25.0% interest in Strategic Office Partners. (2) 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, or the Merger Agreement. During the three months ended September 30, 2016 , the Company finalized the purchase price allocation for the Merger. The following table summarizes the finalized purchase price allocation: Assets Investments: Land $ 258,451 Buildings and improvements 1,628,335 Net investments 1,886,786 Cash and cash equivalents 24,687 Restricted cash 8,990 Unconsolidated equity investments 563,888 Tenant and other receivables, net 11,166 Acquired lease assets 411,361 Deferred costs and other assets 5,002 Assets held for sale 414,187 Total assets $ 3,326,067 Liabilities Mortgage notes payable $ 220,429 Revolving credit facilities and term loans 860,000 Below-market lease liabilities 41,130 Accounts payable, accrued expenses, and other liabilities 82,773 Liabilities related to assets held for sale 292,494 Total liabilities $ 1,496,826 Fair value of net assets acquired $ 1,829,241 The final allocation of the purchase price was based on the Company’s assessment of the fair value of the acquired assets and liabilities. The final allocation recorded resulted in an increase to the allocation to assets acquired by $864 and an increase to the allocation to liabilities assumed by $864 . The final purchase price allocation adjustment also resulted in a decrease in rental revenue of $106 and an increase in depreciation expense of $75 to record adjustments to depreciation and amortization expense related to the adjustments on the Condensed Consolidated Statements of Operations for the three and nine months ended September 30, 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 by $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	9 Months Ended
	Sep. 30, 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 JV, Goodman Europe JV, Goodman UK JV, 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 is amortized to equity in net income from unconsolidated equity investments over the remaining weighted-average useful life of the underlying assets of each entity. As of September 30, 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 September 30, 2016 As of December 31, 2015 Investment Ownership % Voting Interest % Partner Investment in Unconsolidated Equity Investment (1) No. of Properties Investment in Unconsolidated Equity Investment (1) No. of Properties Gramercy European Property Fund (2), (3) 14.2 % 14.2 % Various $ 52,611 24 $ 23,381 12 Philips JV 25.0 % 25.0 % Various — 1 — 1 Duke JV (4) 80.0 % 50.0 % Duke Realty — — 352,932 13 Goodman Europe JV (3) 5.1 % 5.1 % Gramercy European Property Fund 9,126 9 158,863 9 Goodman UK JV 80.0 % 50.0 % Goodman Group 35,525 3 36,698 3 CBRE Strategic Partners Asia 5.1 % 5.1 % Various 4,557 2 5,508 2 Morristown JV 50.0 % 50.0 % 21 South Street 2,620 1 2,618 1 Strategic Office Partners 25.0 % 25.0 % TPG Real Estate 15,737 6 — — Total $ 120,176 46 $ 580,000 41 (1) The amounts presented include basis differences of $2,603 and $6,607 , net of accumulated amortization, for the Goodman Europe JV and Goodman UK JV, respectively, as of September 30, 2016 . The amounts presented include basis differences of $136,198 , $37,371 and $6,578 , net of accumulated amortization, for the Duke JV, Goodman Europe JV, and Goodman UK JV, respectively, as of December 31, 2015. (2) Includes European Fund Carry Co., which has a carrying value of $9 and $0 for the Company’s 25.0% interest as of September 30, 2016 and December 31, 2015, respectively. (3) As of September 30, 2016, the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest of Goodman Europe JV through its 14.2% interest in the Gramercy European Property Fund. In the table above, as of September 30, 2016, the Company’s 94.9% interest in Goodman Europe JV held through its 14.2% interest in the Gramercy European Property Fund is included in the amount shown for the Gramercy European Property Fund and the Company’s 5.1% direct interest in the Goodman Europe JV is presented separately as the amount shown for the Goodman Europe JV. (4) The Duke JV was dissolved following the sale of its final property in July 2016. The Company’s ownership and voting interest in the Duke JV that are presented here represent values prior to its dissolution. The following is a summary of the Company’s unconsolidated equity investments for the nine months ended September 30, 2016 : Unconsolidated Equity Investments Balance as of December 31, 2015 $ 580,000 Contributions to unconsolidated equity investments (1) 76,856 Equity in net loss of unconsolidated equity investments, including adjustments for basis differences (4,061 ) Other comprehensive loss of unconsolidated equity investments (1,086 ) Distributions from unconsolidated equity investments (2) (395,838 ) Purchase price allocation adjustments 5,000 Gains on sale and dissolution of unconsolidated equity investment interests 12,570 Sale of unconsolidated equity investment interests (148,884 ) Receivable from dissolution of joint venture (644 ) Reclassification of accumulated foreign currency translation adjustments due to disposal (3,737 ) Balance as of September 30, 2016 $ 120,176 (1) Includes the fair value of the six properties of $46,608 contributed by the Company to Strategic Office Partners. (2) Includes the fair value of the seven properties of $276,100 distributed by the Duke JV to the Company. Gramercy European Property Fund In December 2014, the Company, along with several equity investment partners, formed the Gramercy European Property Fund, a private real estate investment fund, which targets single-tenant industrial, office and specialty retail assets throughout Europe. Since inception, the equity investors, including the Company, have collectively committed and funded $395,213 ( €352,500 ) in equity capital to the Gramercy European Property Fund. As of September 30, 2016, the commitments of all equity investors to the Gramercy European Property Fund, including the Company, have been fully funded. On May 31, 2016, the Gramercy European Property Fund acquired the Goodman Group’s 20.0% interest in the Goodman Europe JV for a total purchase price of $47,633 ( €42,766 ). On June 30, 2016, the Gramercy European Property Fund acquired 74.9% of the Company’s 80.0% interest in the Goodman Europe JV for a total purchase price of $148,884 ( €134,336 ). As of September 30, 2016, the Gramercy European Property Fund owns 94.9% of the Goodman Europe JV, which holds nine properties located in Germany and France. As of September 30, 2016 and December 31, 2015 , the Company contributed $55,892 ( €50,000 ) and $25,663 ( €23,160 ) to the Gramercy European Property Fund, respectively. During the nine months ended September 30, 2016 and the year ended December 31, 2015 , the Gramercy European Property Fund acquired 12 and 12 properties, respectively, located in Germany, the Netherlands, Poland, the United Kingdom. Refer to Note 8 for additional information on the equity transactions related to the Gramercy European Property Fund and the Goodman Europe JV. Philips JV The Philips JV is a fee interest in 200 Franklin Square Drive, a 199,900 square foot building located in Somerset, New Jersey which is 100.0% net leased to Philips Holdings, USA Inc., a wholly-owned subsidiary of Royal Philips Electronics through December 2021. The property is financed by a $40,130 fixed rate mortgage loan with maturity in September 2035. The loan had an anticipated repayment date in September 2015 and, as such, excess cash flow at the property began paying down the loan in September 2015. During the three and nine months ended September 30, 2016 , the Company did not receive any distributions from the joint venture. During the three and nine months ended September 30, 2015 the Company received distributions of $103 and $309 , respectively, from the joint venture. Duke JV The Duke JV invested in industrial and office properties located throughout the United States. The Company’s investment partner, Duke Realty Corporation, or Duke, acted as the managing member of the Duke JV, was entitled to receive fees in connection with the services it provides to the Duke JV, including asset management, construction, development, leasing and property management services, and was entitled to a promoted interest in the Duke JV. The Company had joint approval rights with Duke over all major policy decisions. In June 2016, the Company and Duke entered into a Dissolution and Liquidation Agreement, or the Dissolution Agreement. On June 30, 2016, pursuant to the Dissolution Agreement, the Duke JV distributed seven of its properties to the Company and one of its properties and $2,760 to Duke. As a result of the distributions, the Company recorded a gain of $7,229 in the second quarter of 2016. In July 2016, the Duke JV sold its remaining property to a third party which completed the dissolution of the joint venture, and as a result of this sale, the Company received a final distribution of $41,060 from the Duke JV. During the three and nine months ended September 30, 2016 , the Company received cash distributions of $0 and $53,807 from the Duke JV, not including the final distribution related to dissolution. Strategic Office Partners In August 2016, the Company and TPG partnered to form Strategic Office Partners, an unconsolidated equity investment created for the purpose of acquiring, owning, operating, leasing and selling single-tenant office properties located in high-growth metropolitan areas in the United States. On September 9, 2016, the Company contributed six properties to Strategic Office Partners valued at $187,500 and in exchange, the Company received cash proceeds of $140,625 , equivalent to TPG’s 75.0% interest in the venture, plus a 25.0% interest in Strategic Office Partners valued at $46,608 . Concurrently with the initial funding of Strategic Office Partners, the Company received a distribution of $30,581 representing its pro rata share of loan proceeds, resulting in an initial equity investment of $16,027 . As a result of the transactions, the Company recorded a gain of $ 2,336 , which is recorded in net gain from disposals on its Condensed Consolidated Statements of Operations. The properties comprise an aggregate 980,825 square feet. TPG and the Company have committed an aggregate $400,000 to Strategic Office Partners, including $100,000 from the Company. The Company provides asset and property management, accounting, construction, and leasing services to Strategic Office Partners, for which it earns management fees and is entitled to a promoted interest. During the three months ended September 30, 2016, the Company contributed $46,608 to Strategic Office Partners, representing the fair value of properties contributed, and received cash distributions of $30,581 from Strategic Office Partners. Goodman JV The Goodman UK JV invests in industrial properties in the United Kingdom and the Goodman Europe JV invests in industrial properties in France and Germany. As noted above, during the second quarter of 2016, the Gramercy European Property Fund acquired the Goodman Group’s 20.0% interest in the Goodman Europe JV and acquired 74.9% of the Company’s 80.0% interest in the Goodman Europe JV. As of September 30, 2016, the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. Pursuant to the Goodman UK JV shareholder agreement, if a deadlock arises 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 JV. Additionally, after the initial investment period, either shareholder wishing to exit the Goodman UK JV may exercise a buy-sell option with respect to its entire interest. The Goodman UK JV pays certain fees to certain Goodman Group subsidiaries in connection with the services they provide to the Goodman UK JV, including but not limited to investment advisory, development management and property management services. The Goodman Group is also entitled to a promoted interest in the Goodman UK JV. As a result of the Gramercy European Property Fund’s acquisition of the Goodman Group’s 20.0% interest in the Goodman Europe JV, the Goodman Europe JV shareholder agreement, which previously had the same terms as that of the Goodman UK JV, was amended. In the amended Goodman Europe JV shareholder agreement, control is allocated to the joint venture partners based upon ownership interest. Following the sale transaction, the Company has a cumulative continuing 18.6% interest in the Goodman Europe JV, through its direct 5.1% ownership interest as well as its indirect ownership interest of 14.2% in the Gramercy European Property Fund which owns 94.9% of the Goodman Europe JV. Due to its continuing equity interest, the Company maintains significant influence in the Goodman Europe JV, and as a result of both of these factors, the Company continues to account for its outstanding interest in the joint venture using the equity method. Pursuant to the amended Goodman Europe JV shareholder agreement, the Goodman Europe JV pays accounting and property management fees to certain Goodman Group subsidiaries and pays investment advisory and other management-related fees to the Gramercy European Property Fund in connection with the services these entities provide to the Goodman Europe JV. During the three months and nine months ended September 30, 2016 , the Company received distributions of $0 and $7,375 , respectively, from the Goodman Europe JV. During the three and nine months ended September 30, 2016 , the Company did not receive any distributions from the Goodman UK JV. 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 and nine months ended September 30, 2016 , the Company has not contributed any capital nor received any distributions. 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, 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 JV On October 8, 2015, the Company contributed 50.0% 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. In connection with the contribution, the Company entered into a joint venture agreement for a 50.0% equity interest in the property with 21 South Street, or the Morristown JV. The Company sold the remaining 50.0% equity interest of the property to 21 South Street for gross proceeds of $2,600 . In October 2015, the Morristown JV 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 September 30, 2016 are as follows: Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund (2) Total Strategic Office Partners Goodman UK JV CBRE Strategic Partners Asia Other (3) Assets: Real estate assets, net (4) $ 307,398 $ 359,246 $ 666,644 $ 155,783 $ 37,716 $ 95,477 $ 49,860 Other assets 40,389 59,942 100,331 34,590 4,433 12,086 3,397 Total assets $ 347,787 $ 419,188 $ 766,975 $ 190,373 $ 42,149 $ 107,563 $ 53,257 Liabilities and members’ equity: Mortgages payable $ 135,716 $ 206,778 $ 342,494 $ 121,608 $ — $ — $ 40,130 Other liabilities 8,758 25,853 34,611 3,738 (606 ) 13,782 3,448 Total liabilities 144,474 232,631 377,105 125,346 (606 ) 13,782 43,578 Gramercy Property Trust equity 33,282 28,446 61,728 15,737 35,525 4,557 2,629 Other members’ equity 170,031 158,111 328,142 49,290 7,230 89,224 7,050 Liabilities and members’ equity $ 347,787 $ 419,188 $ 766,975 $ 190,373 $ 42,149 $ 107,563 $ 53,257 (1) As of September 30, 2016 , the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. In the table above, the Company’s equity interest in the Goodman Europe JV includes both its direct 5.1% interest as well as its indirect interest that is held through its 14.2% interest in the Gramercy European Property Fund, and the Company’s equity interest in the Gramercy European Property Fund represents its interest in all of the properties owned by the Gramercy European Property Fund except for the properties in the Goodman Europe JV. (2) Excludes the Gramercy European Property Fund’s 94.9% interest in the Goodman Europe JV. (3) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (4) Includes 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: Goodman Europe JV Gramercy European Property Fund Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (1) Assets: Real estate assets, net (2) $ 276,925 $ 236,312 $ 42,584 $ 443,313 $ 109,554 $ 50,698 Other assets 42,139 39,983 3,427 32,739 9,337 15,954 Total assets $ 319,064 $ 276,295 $ 46,011 $ 476,052 $ 118,891 $ 66,652 Liabilities and members’ equity: Mortgages payable $ 121,350 $ 143,616 $ — $ 56,105 $ — $ 40,424 Other liabilities 8,622 14,581 1,783 6,035 13,948 16,540 Total liabilities 129,972 158,197 1,783 62,140 13,948 56,964 Gramercy Property Trust equity 158,863 23,385 36,698 352,932 5,508 2,614 Other members’ equity 30,229 94,713 7,530 60,980 99,435 7,074 Liabilities and members’ equity $ 319,064 $ 276,295 $ 46,011 $ 476,052 $ 118,891 $ 66,652 (1) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (2) Includes 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 September 30, 2016 : Outstanding Balance (2) Property Unconsolidated Equity Investment Economic Ownership Interest Rate (1) Maturity Date September 30, 2016 December 31, 2015 Durrholz, Germany Gramercy European Property Fund 14.2% 1.52% 3/31/2020 $ 13,128 $ 12,937 Oud Beijerland, Netherlands Gramercy European Property Fund 14.2% 2.06% 12/30/2022 8,663 8,463 Zaandam, Netherlands Gramercy European Property Fund 14.2% 2.05% 12/30/2022 12,492 12,203 Kerkrade, Netherlands Gramercy European Property Fund 14.2% 2.05% 12/30/2022 10,320 10,081 Friedrichspark, Germany Gramercy European Property Fund 14.2% 2.05% 12/30/2022 9,325 9,109 Fredersdorf, Germany Gramercy European Property Fund 14.2% 2.05% 12/30/2022 12,063 11,783 Breda, Netherlands Gramercy European Property Fund 14.2% 1.87% 12/30/2022 10,668 7,796 Juechen, Germany Gramercy European Property Fund 14.2% 1.86% 12/30/2022 20,220 19,750 Piaseczno, Poland Gramercy European Property Fund 14.2% 1.95% 12/30/2022 8,731 8,522 Strykow, Poland Gramercy European Property Fund 14.2% 1.95% 12/30/2022 20,558 20,063 Venray, Germany Gramercy European Property Fund 14.2% 3.32% 12/2/2020 13,938 13,578 Uden, Netherlands Gramercy European Property Fund 14.2% 1.95% 12/30/2022 9,560 9,331 Rotterdam, Netherlands Gramercy European Property Fund 14.2% 1.86% 12/30/2022 8,180 — Kutno, Poland Gramercy European Property Fund 14.2% 1.91% 7/21/2023 6,292 — Frechen, Germany Gramercy European Property Fund 14.2% 1.46% 12/30/2022 6,476 — Netherlands Portfolio (5) Gramercy European Property Fund 14.2% 3.02% 6/28/2023 14,325 — Meerane, Germany Gramercy European Property Fund 14.2% 1.32% 12/30/2022 10,864 — Graben, Germany (3) Goodman Europe JV 18.6% (4) 2.39% 7/27/2017 34,941 33,781 Koblenz Germany Goodman Europe JV 18.6% (4) 2.27% 12/12/2017 35,671 34,486 Bremen, Germany Goodman Europe JV 18.6% (4) 3.01% 11/25/2020 13,257 12,817 Bodenheim, Germany Goodman Europe JV 18.6% (4) 3.01% 11/25/2020 12,718 12,296 Lille, France Goodman Europe JV 18.6% (4) 3.13% 12/17/2020 28,930 27,970 Carlisle, United Kingdom Gramercy European Property Fund 14.2% 3.32% 2/19/2021 10,978 — Strategic Office Partners Portfolio (7) Strategic Office Partners 25.0% 3.60% 10/7/2019 125,000 — Somerset, NJ Philips JV 25.0% 6.90% 9/11/2035 40,130 40,424 Lake Forest, IL Duke JV 80.0% N/A N/A — 8,823 Tampa, FL Duke JV 80.0% N/A N/A — 4,231 Fort Lauderdale, FL (6) Duke JV 80.0% N/A N/A — 43,051 Total $ 497,428 $ 361,495 (1) Represents the current effective rate as of September 30, 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) Mortgage loans amounts are presented at 100.0% of the amount in the unconsolidated equity investment. (3) Represents two properties under this mortgage loan. (4) Represents the Company’s economic ownership in the Goodman Europe JV, which includes both its 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. (5) Represents five properties under this mortgage loan. (6) Represents four properties under this mortgage loan. (7) Represents six properties under this mortgage loan. The statements of operations for the unconsolidated equity investments for the three months ended September 30, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Three Months Ended September 30, 2016 For the Three Months Ended September 30, 2015 Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund Total Strategic Office Partners Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (2) All Unconsolidated Equity Investments (3) Revenues $ 6,195 $ 7,329 $ 13,524 $ 1,291 $ 557 $ 417 $ (11,557 ) $ 1,080 $ 1,975 Operating expenses 676 1,619 2,295 280 225 191 341 129 375 Acquisition expenses — 2,141 2,141 664 — — — — 5,289 Interest expense 653 1,138 1,791 410 — — — 698 700 Depreciation and amortization 3,276 2,800 6,076 898 339 — — 333 820 Total expenses 4,605 7,698 12,303 2,252 564 191 341 1,160 7,184 Net income (loss) from operations 1,590 (369 ) 1,221 (961 ) (7 ) 226 (11,898 ) (80 ) (5,209 ) Loss on derivatives — (1,124 ) (1,124 ) (129 ) — — — — (591 ) Net gain on disposals — — — — — 28,170 — — — Provision for taxes — (284 ) (284 ) — — — — — (178 ) Net income (loss) $ 1,590 $ (1,777 ) $ (187 ) $ (1,090 ) $ (7 ) $ 28,396 $ (11,898 ) $ (80 ) $ (5,978 ) Company’s share in net income (loss) $ 322 $ (252 ) $ 70 $ (273 ) $ (6 ) $ 20,749 $ (605 ) $ (4 ) $ (1,096 ) Basis adjustments 11 — 11 — (183 ) (20,897 ) — — — Company’s equity in net income (loss) within continuing operations $ 333 $ (252 ) $ 81 $ (273 ) $ (189 ) $ (148 ) $ (605 ) $ (4 ) $ (1,096 ) (1) As of and for the three months ended September 30, 2016 , the Company had a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. For the three months ended September 30, 2016, the Company’s equity in net income (loss) from the entities is based on these ownership interest percentages during the period. (2) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (3) Represents the Gramercy European Property Fund and the Philips JV. The Condensed Consolidated Statements of Operations for the unconsolidated equity investments for the nine months ended September 30, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Nine Months Ended September 30, 2016 For the Nine Months Ended September 30, 2015 Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund Total Strategic Office Partners Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (2) All Unconsolidated Equity Investments (3) Revenues $ 18,389 $ 18,270 $ 36,659 $ 1,291 $ 5,477 $ 19,812 $ (11,315 ) $ 3,245 $ 4,249 Operating expenses 2,372 3,188 5,560 280 698 5,309 1,208 342 903 Acquisition expenses 4,960 4,678 9,638 664 — — — 27 5,289 Interest expense 2,519 3,032 5,551 410 — 602 — 2,131 1,795 Depreciation and amortization 7,907 7,632 15,539 898 1,461 7,154 — 998 1,658 Total expenses 17,758 18,530 36,288 2,252 2,159 13,065 1,208 3,498 9,645 Net income (loss) from operations 631 (260 ) 371 (961 ) 3,318 6,747 (12,523 ) (253 ) (5,396 ) Loss on derivatives — (6,428 ) (6,428 ) (129 ) — — — — (591 ) Loss on extinguishment of debt — — — — — (7,962 ) — — — Net gains on disposals — — — — — 66,705 — — — Provision for taxes — (876 ) (876 ) — — — — — (178 ) Net income (loss) $ 631 $ (7,564 ) $ (6,933 ) $ (1,090 ) $ 3,318 $ 65,490 $ (12,523 ) $ (253 ) $ (6,165 ) Company’s share in net income (loss) $ (444 ) $ (1,386 ) $ (1,830 ) $ (273 ) $ 2,655 $ 50,424 $ (641 ) $ — $ (974 ) Basis adjustments 455 — 455 — (461 ) (54,390 ) — — — Company’s equity in net income (loss) within continuing operations $ 11 $ (1,386 ) $ (1,375 ) $ (273 ) $ 2,194 $ (3,966 ) $ (641 ) $ — $ (974 ) (1) On May 31, 2016, the Gramercy European Property Fund acquired a 20.0% interest in the Goodman Europe JV and on June 30, 2016, the Gramercy European Property Fund acquired 74.9% of the Company’s 80.0% interest in the Goodman Europe JV. As of September 30, 2016 , the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. For the nine months ended September 30, 2016 , the Company’s equity in net income (loss) from the entities is based on these ownership interest percentages during the period. (2) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (3) Represents the Gramercy European Property Fund and the Philips JV.

Debt Obligations

Debt Obligations	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Debt Obligations	Debt Obligations Secured Debt Mortgage Loans Certain of the Company’s real estate assets are subject to mortgage loans. During the nine months ended September 30, 2016 , the Company assumed non-recourse mortgages of $45,958 in connection with 11 real estate acquisitions, $12,931 associated with two properties distributed from the Duke JV, and entered into a $9,550 mortgage. During the year ended December 31, 2015, the Company assumed $618,169 of non-recourse mortgages in connection with 42 real estate acquisitions, of which $464,292 related to mortgages on 29 properties acquired in connection with the Merger. During the three months ended September 30, 2016 , the Company paid off the debt on 14 properties encumbered by mortgage loans and during the nine months ended September 30, 2016 , the Company paid off the debt on 22 properties encumbered by mortgage loans and transferred one mortgage to the buyer of the encumbered property. Additionally, during the three months ended September 30, 2016 the Company defeased a mortgage loan with an outstanding principal balance of $124,605 that encumbered 11 properties, through the purchase of treasury securities valued at $ 144,063 , which were immediately sold following the transaction. F or the three and nine months ended September 30, 2016 , the Company recorded net losses on early extinguishment of debt of $(13,777) and $(20,890) , including net gains on extinguishment of debt of $0 and $1,930 within discontinued operations, respectively, related to unamortized deferred financing costs and mortgage premiums and discounts that were immediately expensed upon termination as well as early termination fees and other costs incurred related to the extinguishments. No gains or losses on debt extinguishments were recorded during the three and nine months ended September 30, 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 mortgage loan facilities as of September 30, 2016 and December 31, 2015. The following is a summary of the Company’s secured financing arrangements as of September 30, 2016 : Property Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 Buford, GA 7.46% 7/1/2017 $ 15,625 $ 15,947 Dallas, TX (2) 4.45% 3/1/2018 9,594 9,754 Cincinnati, KY (2) 4.45% 3/1/2018 6,666 6,777 Jacksonville, FL (2) 4.45% 3/1/2018 6,891 7,006 Phoenix, AZ (2) 4.45% 3/1/2018 4,144 4,213 Minneapolis, MN (2) 4.45% 3/1/2018 6,036 6,136 Ames, IA 5.53% 5/1/2018 16,556 16,900 Greenwood, IN 3.28% 6/15/2018 7,480 7,610 Greenfield, IN 3.28% 6/15/2018 6,045 6,150 Philadelphia, PA 4.28% 1/1/2019 12,423 12,696 Bridgeview, IL 7.40% 5/1/2019 6,056 — KIK Canada Portfolio (3) 3.58% 5/5/2019 8,186 — Spartanburg, SC 5.42% 6/1/2019 1,120 1,398 Charleston, SC 5.65% 8/1/2019 1,113 1,486 Lawrence, IN 4.00% 1/1/2020 20,860 21,371 Charlotte, NC 5.47% 1/1/2020 2,381 2,859 Hawthorne, CA 6.60% 8/1/2020 17,748 18,108 Charleston, SC 5.20% 10/1/2020 1,041 1,210 Charleston, SC 5.20% 10/1/2020 1,041 1,210 Charleston, SC 5.20% 10/1/2020 1,059 1,230 Charlotte, NC 5.27% 10/1/2020 903 1,049 Des Plaines, IL 5.25% 10/31/2020 2,482 2,537 Waco, TX 4.55% 12/19/2020 15,262 15,485 Winston-Salem, NC 5.53% 6/1/2021 4,403 4,998 Winston-Salem, NC 5.50% 7/1/2021 1,454 1,647 CCC Portfolio (4) 4.54% 10/6/2022 23,393 — KIK USA Portfolio (5) 4.82% 7/6/2023 7,522 — Yuma, AZ 5.15% 12/6/2023 12,107 12,247 Allentown, PA 5.07% 1/6/2024 23,172 23,443 Spartanburg, SC 6.33% 2/1/2024 6,534 7,040 Charleston, SC 5.80% 2/1/2025 6,816 7,277 Hackettstown, NJ 5.15% 3/6/2026 9,550 — Hutchins, TX 6.95% 6/1/2029 23,048 23,870 Woodcliff Lake, NJ 5.97% 9/15/2017 35,703 36,681 Columbus, OH 3.78% 5/31/2018 19,942 20,644 Columbus, OH 3.95% 1/31/2019 5,955 6,094 Deerfield, IL 4.75% 1/1/2021 10,890 11,145 Wilson, NC N/A N/A — 8,603 Dividend Capital Portfolio (6) N/A N/A — 126,161 Charlotte, NC N/A N/A — 13,025 Coppell, TX N/A N/A — 10,391 Jersey City, NJ (7) N/A N/A — 112,000 Jersey City, NJ (7) N/A N/A — 101,726 Blue Ash, OH (7) N/A N/A — 14,896 Blue Ash, OH (7) N/A N/A — 13,139 Blue Ash, OH (7) N/A N/A — 12,485 Property Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 Bloomington, MN N/A N/A — 19,824 Bloomington, MN N/A N/A — 21,825 Total mortgage notes payable 361,201 770,293 Plus net deferred financing costs and net debt premium (8) 7,185 20,633 Total mortgage notes payable, net 368,386 790,926 Total mortgage notes payable, net on assets held for sale — (260,704 ) Total mortgage notes payable, net $ 368,386 $ 530,222 (1) Represents the current interest rate as of September 30, 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) These five mortgage loans are cross-collateralized. (3) Represents two properties under one mortgage loan. (4) Represents five properties under one mortgage loan. (5) Represents three properties under one mortgage loan. (6) Represents 11 properties under one mortgage loan. (7) 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 Condensed Consolidated Balance Sheet as of December 31, 2015. These properties were sold and their loans were paid off during the first quarter of 2016. (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 a $1,225,000 term loan facility, or the 2015 Term Loan, 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 and British pounds sterling are designated as non-derivative net investment hedges to mitigate the risk from fluctuations in foreign currency exchange rates. Refer to Note 10 , “Derivatives and Non-Derivative Hedging Instruments,” for further information on the Company’s hedges. 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, 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% . During the first half of 2016, the Company amended its 5 -Year Term Loan and its 7 -Year Term Loan in order to remove the 0.00% rate floor on the applicable LIBOR that existed in the original loan agreements. 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 September 30, 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, “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 September 30, 2016 and December 31, 2015 , are set forth in the table below: Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 2015 Revolving Credit Facility - U.S. dollar tranche 1.51 % 1.51 % 1/8/2020 $ 70,000 $ 275,000 2015 Revolving Credit Facility - Multicurrency tranche 1.07 % 1.07 % 1/8/2020 93,365 21,724 3-Year Term Loan 1.66 % 1.66 % 1/8/2019 300,000 300,000 5-Year Term Loan 1.66 % 2.70 % 1/8/2021 750,000 750,000 7-Year Term Loan 2.05 % 3.34 % 1/9/2023 175,000 175,000 Total Unsecured Revolving Credit and Term Loan Facilities $ 1,388,365 $ 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. 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 Partnership 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 Partnership. 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 100.0% of the principal amount of the Exchangeable Senior Notes to be redeemed, plus accrued and unpaid interest up to, but excluding, the redemption date. As of September 30, 2016 , the Exchangeable Senior Notes have a current exchange rate of 41.5897 units of Merger consideration, where one unit of Merger consideration represents 3.1898 common shares of the Company, or approximately 132.6628 of the Company’s common shares for each $1.0 principal amount of the Exchangeable Senior Notes , representing an exchange price of $7.54 per common share of the Company . 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 September 30, 2016 and December 31, 2015, the Exchangeable Senior Notes were recorded as a liability at carrying value of $108,186 and $106,581 , respectively, net of unamortized discount and deferred financing costs of $6,814 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 September 30, 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 September 30, 2016 are as follows: 2015 Revolving Credit Facility Term Loans Mortgage Notes Payable Senior Unsecured Notes Exchangeable Senior Notes Interest Payments Total October 1 to December 31, 2016 $ — $ — $ 3,558 $ — $ — $ 14,085 $ 17,643 2017 — — 63,995 — — 54,530 118,525 2018 — — 91,291 — — 51,469 142,760 2019 — 300,000 39,936 — 115,000 42,599 497,535 2020 163,365 — 58,907 — — 36,715 258,987 Thereafter — 925,000 103,514 150,000 — 58,080 1,236,594 Below market interest — — — — — (651 ) (651 ) Total $ 163,365 $ 1,225,000 $ 361,201 $ 150,000 $ 115,000 $ 256,827 $ 2,271,393

Leasing Agreements

Leasing Agreements	9 Months Ended
	Sep. 30, 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 September 30, 2016 are as follows: Operating Leases October 1 to December 31, 2016 $ 86,390 2017 347,694 2018 341,886 2019 320,834 2020 295,084 Thereafter 1,762,937 Total minimum lease rental income $ 3,154,825

Transactions with Trustee Relat

Transactions with Trustee Related Entities and Related Parties	9 Months Ended
	Sep. 30, 2016
Related Party Transactions [Abstract]
Transactions with Trustee Related Entities and Related Parties	Transactions with Trustee Related Entities and Related Parties On June 30, 2016, the Company entered into an agreement to sell 74.9% of its outstanding 80.0% interest in the Goodman Europe JV to the Gramercy European Property Fund, in which the Company has a 14.2% interest as of September 30, 2016. The Company has committed and funded total capital of $55,892 ( €50,000 ), and the Company’s CEO, who is on the board of directors, also has capital commitments to the investment, as noted below. The Company sold 74.9% of its interest in the Goodman Europe JV to the Gramercy European Property Fund for gross proceeds of $148,884 ( €134,336 ). The Company’s sale of 74.9% of its interest in the Goodman Europe JV resulted in the Company recording a gain of $ 5,341 primarily related to depreciation and amortization recorded since Merger closing date. This gain amount is recorded as a gain on sale of unconsolidated equity investment interests held with a related party on the Company’s Condensed Consolidated Statements of Operations for the nine months ended September 30, 2016. Following the sale transaction, the Company has a 5.1% continuing direct interest in the Goodman Europe JV. The transaction was entered into in order to achieve efficiencies from the combination of the two European platforms. The Company’s CEO, Gordon F. DuGan, is on the board of directors of the Gramercy European Property Fund and has invested approximately $1,388 ( €1,250 ) in capital to the Gramercy European Property Fund. The two Managing Directors of Gramercy Europe Asset Management have collectively invested approximately $1,388 ( €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 September 30, 2016, in the case of unfunded commitments. One of the properties acquired in December 2015 as part of the Merger was partially leased to Duke Realty, the Company’s partner in the Duke JV. Duke Realty acted as the managing member of the Duke JV which was dissolved in July 2016 as described in Note 5, and as such provided asset management, construction, development, leasing and property management services, for which it was entitled to fees as well as a promoted interest. From the date of the Merger through lease expiration in May 2016, Duke Realty leased 30,777 square feet of one of the Company’s office properties located in Minnesota which had an aggregate 322,551 rentable square feet. Duke Realty paid the Company $333 under the lease for the nine months ended September 30, 2016. See Note 5 for more information on the Company’s transactions with the Duke JV. 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	9 Months Ended
	Sep. 30, 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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Retained CDO Bonds (1) $ 8,439 $ 8,439 $ 7,471 $ 7,471 Investment in CBRE Strategic Partners Asia $ 4,557 $ 4,557 $ 5,508 $ 5,508 Real estate investments classified as held for sale at Merger closing (2) $ 10,558 $ 10,558 $ 393,984 $ 393,984 Financial liabilities: Derivative instruments Interest rate swaps $ 28,613 $ 28,613 $ 3,442 $ 3,442 Long-term debt Revolving credit facilities (3) $ 163,365 $ 163,003 $ 296,724 $ 297,394 3-Year Term Loan (3) $ 300,000 $ 298,578 $ 300,000 $ 300,349 5-Year Term Loan (3) $ 750,000 $ 743,273 $ 750,000 $ 751,304 7-Year Term Loan (3) $ 175,000 $ 172,723 $ 175,000 $ 175,338 Mortgage notes payable (3), (4) $ 368,386 $ 379,372 $ 770,293 $ 805,590 Senior Unsecured Notes (3) $ 148,978 $ 157,786 $ 100,000 $ 100,528 Exchangeable Senior Notes (3) $ 108,186 $ 116,843 $ 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) Amounts include one and six real estate investments as of September 30, 2016 and December 31, 2015, respectively, classified as held for sale at Merger closing, which are included in discontinued operations. (3) Long-term debt instruments are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions. (4) 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 September 30, 2016 . 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. Interest rate swaps: The Company’s interest rate swap agreem ents are carried at fair value in the Condensed Consolidated Financial Statements based upon third-party valuations. Refer to Note 10 for more information on these 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 this investment. 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 September 30, 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 investments. 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 September 30, 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 has been 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 September 30, 2016 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 8,439 $ — $ — $ 8,439 Marketable securities: Investment in CBRE Strategic Partners Asia 4,557 — — 4,557 Real estate investments classified as held for sale at Merger closing 10,558 — — 10,558 $ 23,554 $ — $ — $ 23,554 Financial Liabilities: Derivative instruments: Interest rate swaps $ 28,613 $ — $ — $ 28,613 $ 28,613 $ — $ — $ 28,613 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 Valuation of Level III Instruments 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 determined using a Black-Scholes model. Fair value of the Company’s embedded exchange option related to the Exchangeable Senior Notes was determined using a probabilistic valuation model with the assistance of third-party valuation specialists. Total unrealized gains (losses) from derivatives for the three and nine months ended September 30, 2016 were $7,653 and $(25,996) , respectively, in accumulated other comprehensive income (loss). Total unrealized gains (losses) from derivatives for the three and nine months ended September 30, 2015 were $(2,584) and $(3,248) , 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 and 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 its 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 fall 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 September 30, 2016 are: Financial Asset or Liability Fair Value Valuation Technique Unobservable Inputs Range Non-investment grade, subordinate CDO bonds $ 8,439 Discounted cash flows Discount rate 17.5% Interest rate swaps $ 28,613 Hypothetical derivative method Credit borrowing spread 135 to 245 basis points Investment in CBRE Strategic Partners Asia $ 4,557 Discounted cash flows Discount rate 20.0% 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 1,427 — 1,427 Adjustments to fair value: Unrealized gain in other comprehensive income from fair value adjustments (459 ) — (459 ) Total income on fair value adjustments — (637 ) (637 ) Purchase price allocation adjustments — (314 ) (314 ) Balance as of September 30, 2016 $ 8,439 $ 4,557 $ 12,996 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: Termination of derivative instrument (1) (8 ) Ineffective portion of change in derivative instruments (817 ) Unrealized loss on derivatives 25,996 Balance as of September 30, 2016 $ 28,613 (1) The Company terminated one interest rate swap in connection with repayment of the related mortgage loan, and as a result of this termination, the Company recorded loss of $8 during the three months ended September 30, 2016 . 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 September 30, 2016 and December 31, 2015. The Company had one and six assets in this classification as of September 30, 2016 and December 31, 2015, respectively, as the Company sold five of the assets during the nine months ended September 30, 2016. These assets were recorded at fair value, less costs to sell of $10,558 and $393,984 as of September 30, 2016 and December 31, 2015, respectively, and are included in discontinued operations. Refer to Note 3 for further information on these assets.

Derivatives and Non-Derivative

Derivatives and Non-Derivative Hedging Instruments	9 Months Ended
	Sep. 30, 2016
Derivative Instrument Detail [Abstract]
Derivatives and Non-Derivative Hedging Instruments	Derivatives and Non-Derivative Hedging Instruments As of September 30, 2016 , the Company’s derivative instruments consist of interest rate swaps, which are cash flow hedges. Changes in the effective portion of the fair value of derivatives designated as hedging instruments are recognized in other comprehensive income (loss) until the hedged item expires or is recognized in earnings. The ineffective portion of a hedging derivative’s change in fair value and the change in value of a non-hedging derivative instrument are immediately recognized in earnings. Derivative accounting may increase or decrease reported net income and shareholders’ equity, depending on future levels of LIBOR interest rates, foreign exchange 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. Borrowings on the Company’s multicurrency tranche of the 2015 Revolving Credit Facility, 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). Refer to Note 2 and Note 9 for additional information on the Company’s derivatives 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 derivatives and hedging instruments at September 30, 2016 . The aggregate fair value of the Company’s derivatives is presented on its Condensed Consolidated Balance Sheets in d erivative instruments and the aggregate carrying value of the non-derivative net investment hedges 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. The Company’s derivatives and hedging instruments as of September 30, 2016 are as follows: Benchmark Rate Notional Value Strike Rate Effective Date Expiration Date Fair Value Interest Rate Swap - Waco 1 mo. USD-LIBOR-BBA 15,262 USD 4.55% 12/19/2013 12/19/2020 $ 882 Interest Rate Swap - Atrium I 1 mo. USD-LIBOR-BBA 19,942 USD 1.78% 8/16/2011 5/31/2018 323 Interest Rate Swap - Easton III 1 mo. USD-LIBOR-BBA 5,955 USD 1.95% 8/16/2011 1/31/2019 151 Interest Rate Swap - 5-Year Term Loan 1 mo. USD-LIBOR-BBA 750,000 USD 1.60% 12/17/2015 12/17/2020 19,515 Interest Rate Swap - 7-Year Term Loan 1 mo. USD-LIBOR-BBA 175,000 USD 1.82% 12/17/2015 1/9/2023 7,742 Net Investment Hedge in EUR-denominated investments USD-EUR exchange rate 45,000 EUR N/A 9/28/2015 N/A — Net Investment Hedge in GBP-denominated investments USD-GBP exchange rate 33,000 GBP N/A 7/15/2016 N/A — Total $ 28,613 Through its interest rate swaps, the Company is hedging exposure to variability in future interest payments on its debt facilities. At September 30, 2016 , the interest rate swap derivative instruments were reported at their fair value as a net liability of $28,613 . Swap (gain) loss of $(83) and $(817) was recognized as interest expense for the three and nine months ended September 30, 2016 , respectively, 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. As discussed in Note 6, during the first half of 2016, the Company amended its 5 -Year Term Loan and its 7 -Year Term Loan in order to remove the 0.00% rate floor on the applicable LIBOR that existed in the original loan agreements, and as a result, during the second quarter of 2016 the Company reversed previously recorded hedge ineffectiveness of $2,564 . No gain or loss was recognized with respect to hedge ineffectiveness or to amounts excluded from ineffectiveness for the three and nine months ended September 30, 2015. During the three and nine months ended September 30, 2016 , the Company reclassified $274 and $905 , respectively, 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 $9,113 will be reclassified from other comprehensive income as an increase in interest expense for the Company’s interest rate swaps as of September 30, 2016 . Additionally, the Company will recognize $2,923 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. The Company hedges its investments based in foreign currencies using non-derivative net investment hedges in conjunction with borrowings under the multicurrency tranche of its 2015 Revolving Credit Facility. The Company’s non-derivative net investment hedge on its euro-denominated investments, which was entered into in September 2015, is used to hedge exposure to changes in the euro-U.S. dollar exchange rate underlying its unconsolidated net equity investments in the Gramercy European Property Fund and the Goodman Europe JV, both of which have euros as their functional currency. The Company’s non-derivative net investment hedge on its British pound sterling-denominated investments, which was entered into in July 2016, is used to hedge exposure to changes in the British pound sterling-U.S. dollar exchange rate underlying its unconsolidated net equity investment in the Goodman UK JV and its wholly-owned property in Coventry, UK, both of which have British pounds sterling as their functional currency. At September 30, 2016, the non-derivative net investment hedge value is reported at carrying value as a net liability of $93,365 , which is included in the balance of the senior unsecured revolving credit facility on the Condensed Consolidated Balance Sheets. During the three and nine months ended September 30, 2016 , the Company recorded net gain (loss) of $(109) and $(175) , respectively, in other comprehensive income (loss) from the impact of exchange rates related to the non-derivative net investment hedges. 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 and nine months ended September 30, 2016 . When the non-derivative net investments being hedged are sold or substantially liquidated, the balance of the translation adjustment accumulated in other comprehensive income will be reclassified into earnings. In June 2016, the Company entered into a foreign currency forward contract to mitigate its exposure to foreign currency exchange rate movements in the euro, specifically in relation to funds received in euros on the sale of 74.9% of its 80.0% interest in the Goodman Europe JV. The foreign currency forward was a derivative contract, which was not designated as a hedging instrument, through which the Company was committed to deliver a certain amount of currency at a set price on a specific date in the future. The forward contract locked in the Company’s future currency exchange rate for the term of the contract, thus minimizing the Company’s exposure to rate fluctuations during this period. The Company settled the contract on July 7, 2016. During the three and nine months ended September 30, 2016 , the Company recognized net income (loss) of $128 and $(22) , respectively, in other income on the Condensed Consolidated Statements of Operations, related to the change in the value of the euro-denominated asset underlying the contract.

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit)	9 Months Ended
	Sep. 30, 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, and as such, 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 September 30, 2016 and December 31, 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 September 30, 2016 , 421,978,800 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 . During the nine months ended September 30, 2016 , the Company’s common dividends are as follows: Quarter Ended Record Date Payment Date Common dividend per share March 31, 2016 March 31, 2016 April 15, 2016 $ 0.110 June 30, 2016 June 30, 2016 July 15, 2016 $ 0.110 September 30, 2016 September 30, 2016 October 14, 2016 $ 0.110 In July 2016, the Company’s board of trustees approved the establishment of an “at the market” equity issuance program, or ATM. The Company expects to file a prospectus supplement to its currently effective registration statement with the SEC during November 2016, pursuant to which the Company may offer and sell common shares with an aggregate gross sales price of up to $375,000 . In June 2016, the Company adopted a dividend reinvestment plan, or DRIP, under which shareholders may use their dividends and optional cash payments to purchase additional common shares of the Company. In August 2016, the Company registered 10,000,000 common shares related to the DRIP. There have been no shares issued under the DRIP as of September 30, 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 and nine months ended September 30, 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 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 At September 30, 2016 , the Company has 3,500,000 of its Series A Preferred Shares outstanding with a mandatory liquidation preference of $25.00 per share. Holders of the Series A Preferred Shares are entitled to receive annual dividends of $1.78125 per share on a quarterly basis, which 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. Equity Plan Activities In June 2016, the Company instituted its 2016 Equity Incentive Plan, which was approved by the Company’s board of trustees and shareholders. The 2016 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 appreciation rights, (iv) share awards, (v) restricted share units, and (vi) dividend equivalents and other equity awards, including LTIP Units. The aggregate number of common shares of the Company that may be issued or transferred under the 2016 Equity Incentive Plan is 12,000,000 shares, subject to adjustment in certain circumstances. The Company’s common shares that are issued or transferred under the 2016 Equity Plan may be authorized but unissued common shares of the Company or reacquired common shares of the Company, including common shares of the Company purchased by it on the open market for purposes of the 2016 Equity Incentive Plan. The 2016 Equity Incentive Plan became effective on June 23, 2016 and will terminate on the day immediately preceding the tenth anniversary of its effective date, unless sooner terminated by the board of trustees. As of September 30, 2016 , there were 10,828,176 shares available for grant under the 2016 Equity Incentive Plan. Following the Merger until the adoption of the 2016 Equity Incentive Plan in June 2016, the Company’s active equity incentive plan, from which share awards were issued, was the Chambers equity incentive plan, or the 2013 Equity Incentive Plan. The Company’s, 2004 Equity Incentive Plan, 2012 Inducement Plan, 2012 Outperformance Plan, 2013 Equity Incentive Plan, and 2015 Equity Incentive Plan continued to exist following the Merger, however they are inactive and thus no new share awards will be issued out of any of these plans. In September 2016, the Company issued a maximum total of 1,140,304 LTIP Units to three executives under its 2016 Equity Incentive Plan. The number of LTIPs units actually earned by the grantees will be based on the achievement of established performance hurdles with respect to the Company’s actual and relative total shareholder returns during the period July 1, 2016 through June 30, 2019. Of the earned units, 50.0% will vest on June 30, 2019, and the remaining 50.0% will vest on June 30, 2020, based on continued employment through that date. Vested LTIP Units are convertible on a 1 -for-1 basis to OP Units. 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 continued, subject to the original service and performance conditions. Through September 30, 2016 , 2,920,116 restricted shares had been issued under the Company’s Equity Incentive Plans, of which 62.0% 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 $614 and $1,701 was recorded for the three and nine months ended September 30, 2016 , respectively, and compensation expense of $416 and $914 was recorded for the three and nine months ended September 30, 2015, respectively, related to the issuance of restricted shares. Compensation expense of $5,749 will be recorded over the course of the next 37 months representing the remaining weighted average vesting period of equity awards issued under the Equity Incentive Plans as of September 30, 2016 . As of September 30, 2016 and December 31, 2015 , the Company had 1,026,037 and 684,199 weighted-average unvested restricted shares outstanding, respectively. Compensation expense of $488 and $1,464 was recorded for the three and nine months ended September 30, 2016 , respectively, and compensation expense of $488 and $1,464 was recorded for the three and nine months ended September 30, 2015, respectively, for the Company’s Outperformance Plans. Compensation expense of $7,058 will be recorded over the course of the next 38 months , representing the remaining weighted average vesting period of the awards issued under the Outperformance Plans as of September 30, 2016 . Deferred Stock Compensation Plan for Directors The Legacy Gramercy Directors’ Deferral Program terminated upon consummation of the Merger. 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. 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 and nine months ended September 30, 2016 and 2015 are computed as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator – Income (loss): Net income (loss) from continuing operations $ (3,411 ) $ 1,659 $ 14,461 $ 1,076 Net income (loss) from discontinued operations 347 (41 ) 5,045 17 Income (loss) before gains on disposals (3,064 ) 1,618 19,506 1,093 Net gains on disposals 2,336 392 2,336 593 Gain on sale of European unconsolidated equity investment interests held with a related party — — 5,341 — Net income (loss) (728 ) 2,010 27,183 1,686 Net (income) loss attributable to noncontrolling interest (221 ) (20 ) (152 ) 43 Nonforfeitable dividends allocated to unvested restricted shareholders (196 ) — (596 ) — Preferred share dividends (1,559 ) (1,559 ) (4,676 ) (4,676 ) Net income (loss) available to vested common shares outstanding $ (2,704 ) $ 431 $ 21,759 $ (2,947 ) Denominator – Weighted average shares (1) : Weighted average basic shares outstanding 420,772,508 183,945,495 423,542,467 169,781,590 Effect of dilutive securities: Unvested share based payment awards — 1,686,542 413,409 — Options — 37,975 41,406 — Phantom shares — 514,834 — — Shares related to OP Units — 1,498,785 1,199,312 — Exchangeable Senior Notes — — 1,966,532 — Diluted Shares 420,772,508 187,683,631 427,163,126 169,781,590 (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 average price of the Company’s common shares for the three and nine months ended September 30, 2016 was above the exchange price of $7.54 for the periods, therefore there is potential dilutive effect for these periods. The Company had net loss available to common shares outstanding during the three months ended September 30, 2016 , thus the excess conversion premium was excluded from the calculation of earnings per share for the period, however during the nine months ended September 30, 2016 , the Company had net income avai lable to common shares outstanding , therefore, the potential dilutive effect of the excess conversion premium was included in the calculation of diluted earnings per share for the period . The average price of the Company’s common shares was below the exchange price of $7.76 for the three months ended September 30, 2015 and above the exchange price of $7.76 for the nine months ended September 30, 2015 . Therefore, there is no potential dilutive effect for the three months ended September 30, 2015 , however there is potential dilutive effect of the excess conversion premium for the nine months ended September 30, 2015 , however due to the net loss available to common shares outstanding during the period, the excess conversion premium was excluded from the calculation of earnings per share for the nine months ended September 30, 2015 . For the three months ended September 30, 2016 the Company excluded from its number of diluted shares used for EPS 58,270 share options, 3,519,584 unvested share based payment awards, 1,017,326 OP Units, and 3,336,987 shares related to the Exchangeable Senior Notes, because, due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period, these shares were anti-dilutive during the period. For the nine months ended September 30, 2015 , the Company excluded from its number of diluted shares used for EPS 44,624 share options, 2,969,744 unvested share based payment awards, 514,834 phantom share units, 1,582,067 OP Units, and 658,380 shares related to the Exchangeable Senior Notes, because, due to the net loss from continuing operations excluding amounts attributable to noncontrolling interest and adjusted for preferred dividends declared during the period, these shares were anti-dilutive during the period. For the three months ended September 30, 2016 and the nine months ended September 30, 2015 , the Company excluded unvested restricted share awards of 1,118,760 and 630,566 , respectively, 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 periods. Accumulated other comprehensive income (loss) Accumulated other comprehensive income (loss) as of September 30, 2016 and December 31, 2015 is comprised of the following: September 30, 2016 December 31, 2015 Net unrealized loss on derivative securities $ (32,070 ) $ (6,074 ) Net unrealized gain on debt instruments 551 1,010 Foreign currency translation adjustments: Gain (loss) on non-derivative net investment hedges (1) (161 ) 14 Other foreign currency translation adjustments (4,168 ) (656 ) Reclassification of accumulated foreign currency translation adjustments due to disposal (3,737 ) — Reclassification of swap gain (loss) into interest expense 868 (45 ) Total accumulated other comprehensive loss $ (38,717 ) $ (5,751 ) (1) The foreign currency translation adjustment associated with the Company’s non-derivative net investment hedges related to its European investments are included in other comprehensive income (loss).

Noncontrolling Interest

Noncontrolling Interest	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest	Noncontrolling Interest Noncontrolling interests represent the common units of limited partnership interest in the Company’s Operating Partnership, or OP Units, not held by the Company as well as third-party equity interests in the Company’s other consolidated subsidiaries. OP Units are redeemable at the election of the holder for cash equal to the then fair market value of one of the Company’s common shares, par value $0.01 per share, except that the Company may, at its election, acquire each OP Unit for one of its common shares. The 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 the Operating Partnership. The OP Unit holders do not have voting rights; however, they are entitled to receive dividends. The OP Unit redemption rights are outside of the Company’s control, and thus the 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 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 OP Units. In April 2016, each of the outstanding common units of limited partnership interest not held by the Company or its subsidiaries, which represented interests in Legacy Gramercy’s operating partnership and were redeemable for 3.1898 of the Company’s common shares following the Merger, were exchanged for 3.1898 OP Units, which are each redeemable for one of the Company’s common shares as described above. All references to OP Units in the Company’s Condensed Consolidated Financial Statements refer to common units of limited partnership interest in Legacy Gramercy’s operating partnership prior to the exchange and to common units of limited partnership interest in GPT Operating Partnership LP following the exchange, and reflect the updated exchange ratio of one OP Unit redeemable for one of the Company’s common shares. As of September 30, 2016 , the noncontrolling interest unit holders owned 941,537 OP Units, which can be redeemed for 941,537 o f the Company’s common shares. The outstanding OP Units as of September 30, 2016 represent an interest of approximately 0.22% in the Company. During the nine months ended September 30, 2016 and the year ended December 31, 2015 , 469,372 and 453,129 OP Units, respectively, were converted into common shares of the Company. At September 30, 2016 , 941,537 common shares of the Company were reserved for issuance upon redemption of OP Units. 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 September 30, 2016 , the value of the OP units was $9,076 . The Company attributes a portion of its net income (loss) during each reporting period to noncontrolling interest based on the percentage ownership of OP Unit holders relative to the Company’s total outstanding common shares and OP Units. The Company recognizes changes in fair value in the 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 OP Units. Below is the rollforward of the activity relating to the noncontrolling interests in the Operating Partnership as of September 30, 2016 : Noncontrolling Interest Balance as of December 31, 2015 $ 10,892 Redemption of noncontrolling interests in the Operating Partnership (4,159 ) Net loss attribution 62 Fair value adjustments 2,741 Dividends (460 ) Balance as of September 30, 2016 $ 9,076 Interests in Other Operating Partnerships In connection with the Company’s December 2014 investment in the Gramercy European Property Fund, the Company acquired a 50.0% equity interest in European Fund Manager, which provides investment and asset management services to the 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 September 30, 2016 and December 31, 2015 , the value of the Company’s interest in European Fund Manager was $(169) and $(249) , respectively. The Company’s interest in European Fund Manager is presented in the equity section of the Company’s Condensed Consolidated Balance Sheets.

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies Funding Commitments The Company is obligated to fund the development of two build-to-suit properties, including a 240,411 square foot industrial property in Round Rock, Texas, which is a consolidated VIE that the Company will acquire upon substantial completion through a forward purchase contract and a 240,800 square foot industrial property in Summerville, South Carolina. The Company’s remaining future commitment for these properties at September 30, 2016 is approximately $47,460 . As of September 30, 2016 , the Company has funded $55,892 ( €50,000 ) to the Gramercy European Property Fund, representing its total funding commitment to the Gramercy European Property Fund. As of December 31, 2015 , the Company had funded $25,663 ( €23,160 ) 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 September 30, 2016 , in the case of unfunded commitments. The Company has committed to fund $100,000 to Strategic Office Partners, of which $16,027 has been funded as of September 30, 2016. See Note 5 , “Unconsolidated Equity Investments,” for further information on the Gramercy European Property Fund and Strategic Office Partners. 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. 24C15003942 (filed July 27, 2015); (ii) Vojik v. Gramercy Property Trust, et al., Case No. 24C15004412 (filed August 25, 2015); (iii) Hoffbauer et al. v. Chambers Street Properties, et al., 24C15004904 (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. 03C15007943 (filed July 24, 2015) and Hoffbauer et al. v. Chambers Street Properties, et al., Case No. 03C15008639 (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. 24C15004972 (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. 24C15004972 (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 S4 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 Merger, which were set forth in Legacy Gramercy’s Current Report on Form 8K filed with on December 7, 2015. Pursuant to the MOU, the parties entered into a stipulation of settlement. The stipulation of settlement is subject to customary conditions, including, among other things, court approval following notice to Legacy Gramercy stockholders. On November 2, 2016, the court entered an order preliminarily approving the settlement and scheduling a hearing to 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 the 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. L00225415 (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 Merger, all of which were set forth in Legacy Gramercy’s Current Report on Form 8K 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. On July 1, 2016 the court issued a final order approving the settlement. The defendants believe the lawsuits are without merit. In December 2010, the Company sold its 45.0% 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. 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, a New York City Administrative Law Judge denied 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 Administrative Law Judge decision to the New York City Tax Appeals Tribunal, or the NYC Tribunal. In July 2016, the NYC Tribunal denied the Company’s appeal. In November 2016, the Company appealed the adverse decision of the NYC Tribunal to the Appellate Division of the Supreme Court of New York. A decision by the Appellate Division is expected in the second quarter of 2017. In June 2016, a New York State Administrative Law Judge ruled in the Company’s favor in connection with the NYS DOT Transfer Tax Assessment. In July 2016, NYS DOT appealed the adverse Administrative Law Judge decision to the New York State Tax Appeals Tribunal, or the NYS Tribunal. A hearing before the NYS Tribunal is expected in the first quarter of 2017. 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 no additional interest recorded for the matter for the three and nine months ended September 30, 2016 . There was $0 and $68 of additional interest recorded in discontinued operations for the matter for the three and nine months ended September 30, 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 September 30, 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 seven regional offices located across the United States and Europe. Additionally, in April 2016, the Company entered into a lease for a new corporate office location at 90 Park Avenue, New York, New York. The Company will relocate to the new office upon completion of improvements to the space in the fourth quarter of 2016. 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 October 1 to December 31, 2016 $ 432 $ — $ 432 2017 1,728 — 1,728 2018 1,731 — 1,731 2019 1,740 — 1,740 2020 1,732 — 1,732 Thereafter 48,062 329 48,391 Total minimum rent expense $ 55,425 $ 329 $ 55,754

Income Taxes

Income Taxes	9 Months Ended
	Sep. 30, 2016
Income Tax Disclosure [Abstract]
Income Taxes	Income Taxes The Company has elected to be taxed as a REIT, and as such, generally will not be subject to U.S. federal income tax on taxable income that it distributes to its shareholders in accordance with REIT requirements. If the Company fails to qualify as a REIT in any taxable year, it will then be subject to U.S. federal income taxes until it is able to qualify for REIT status again, 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. Additionally, the Company’s TRSs are subject to federal, state and local taxes. The Company’s asset and property management business, Gramercy Asset Management, partially 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 and nine months ended September 30, 2016 the Company recorded $331 and $3,734 of income tax expense, respectively. For the three and nine months ended September 30, 2015, the Company recorded $985 and $2,116 of income tax expense, respectively. Tax expense for the three and nine months ended September 30, 2016 and 2015 in continuing operations is comprised of state and local taxes and federal taxes primarily attributable to Gramercy Asset Management. To the extent the Company incurs any interest or penalties on its material uncertain tax positions, these amounts will be recognized in the financial statements as interest expense and operating expense, respectively. As of September 30, 2016 and December 31, 2015, the Company did not incur any material interest or penalties.

Segment Reporting

Segment Reporting	9 Months Ended
	Sep. 30, 2016
Segment Reporting [Abstract]
Segment Reporting	Segment Reporting As of September 30, 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 September 30, 2016 Total revenues $ 7,250 $ 123,842 $ 131,092 Equity in net loss from unconsolidated equity investments — (1,138 ) (1,138 ) Total operating and interest expense (1) (5,240 ) (128,125 ) (133,365 ) Net income from continuing operations $ 2,010 $ (5,421 ) $ (3,411 ) Asset Management Investments / Corporate Total Company Three Months Ended September 30, 2015 Total revenues $ 5,138 $ 60,075 $ 65,213 Equity in net loss from unconsolidated equity investments — (1,096 ) (1,096 ) Total operating and interest expense (1) (5,235 ) (57,223 ) (62,458 ) Net income (loss) from continuing operations $ (97 ) $ 1,756 $ 1,659 Asset Management Investments / Corporate Total Company Nine Months Ended September 30, 2016 Total revenues $ 30,824 $ 360,238 $ 391,062 Equity in net loss from unconsolidated equity investments — (4,061 ) (4,061 ) Total operating and interest expense (1) (19,222 ) (353,318 ) (372,540 ) Net income from continuing operations $ 11,602 $ 2,859 $ 14,461 Asset Management Investments / Corporate Total Company Nine Months Ended September 30, 2015 Total revenues $ 17,546 $ 149,749 $ 167,295 Equity in net loss from unconsolidated equity investments — (974 ) (974 ) Total operating and interest expense (1) (16,592 ) (148,653 ) (165,245 ) Net income from continuing operations $ 954 $ 122 $ 1,076 Asset Management Investments / Corporate Total Company Total Assets: September 30, 2016 $ 27,197 $ 5,156,033 $ 5,183,230 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 $62,863 and $25,120 and provision for taxes of $331 and $985 for the three months ended September 30, 2016 and 2015 , respectively, are included in the amounts presented above. Depreciation and amortization of $181,649 and $68,534 and provision for taxes of $3,734 and $2,116 for the nine months ended September 30, 2016 and 2015 , respectively, are included in the amounts presented above.

Supplemental Cash Flow Informat

Supplemental Cash Flow Information	9 Months Ended
	Sep. 30, 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 and nine months ended September 30, 2016 and 2015 : Nine Months Ended September 30, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 59,700 $ 22,388 Income taxes paid $ 2,614 $ 1,238 Proceeds from 1031 exchanges from sale of real estate $ 617,538 $ 8,619 Use of funds from 1031 exchanges for acquisitions of real estate $ (460,191 ) $ (8,619 ) Non-cash activity: Fair value adjustment to noncontrolling interest in the Operating Partnership $ 2,741 $ (1,390 ) Debt assumed in acquisition of real estate $ (45,958 ) $ 153,877 Debt transferred in disposition of real estate $ (101,432 ) $ — Treasury securities transferred in connection with defeasance of notes payable $ (144,063 ) $ — Transfer of defeased note payable $ 124,605 $ — Contribution of real estate assets as investment in unconsolidated equity investments $ (182,168 ) $ — Redemption of units of noncontrolling interest in the Operating Partnership for common shares $ (4,159 ) $ (3,127 ) Distribution of real estate assets from unconsolidated equity investment $ 263,015 $ — Non-cash activities recognized in other comprehensive income: Change in net unrealized loss on securities available for sale $ (459 ) $ 6,129 Deferred losses and other non-cash activity related to derivatives $ (25,996 ) $ (3,248 ) Non-cash effect of foreign currency translation adjustments $ (3,687 ) $ (309 )

Subsequent Events

Subsequent Events	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events In October 2016, the Company’s board of trustees approved a fourth quarter 2016 dividend in the amount of $0.125 per share, payable on January 13, 2017 to common shareholders of record as of the close of business on December 30, 2016. Subsequent to September 30, 2016, the Company closed on the acquisition of six industrial properties which comprise an aggregate of 1,528,223 rentable square feet and were acquired for an aggregate purchase price of approximately $136,875 . The properties are 100.0% leased with lease terms ending between November 2022 and December 2033.

Significant Accounting Polici25

Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 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 Partnership 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 reviews the recoverability of a property’s carrying value when circumstances indicate a possible impairment in 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% unconsolidated equity investment in CBRE Strategic Partners Asia, 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 this 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 $171,895 and $17,354 at September 30, 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. Concurrently, the Company entered into a forward purchase agreement with BIG, pursuant to which the Company will acquire the property, which is 100.0% leased to Proportion Foods, or 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 completed 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 September 30, 2016 , the Company has funded $12,849 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 the 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 the Gramercy European Property Fund. The Company has determined that European Fund Carry Co. is a VIE, as the equity holders of the 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 the 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 September 30, 2016 and December 31, 2015 , European Fund Carry Co. had net assets of $37 and $(5) . Investment in Retained CDO Bonds The Company holds non-investment grade subordinate bonds, preferred shares and ordinary shares of three collateralized debt obligations, or the Retained CDO Bonds, which it 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 collateralized debt obligations, or 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 September 30, 2016 and December 31, 2015 , the Company had one and six assets classified as held for sale, respectively, which represent 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 September 30, 2016 and December 31, 2015 were $43 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 client’s 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 Limited, or 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 September 30, 2016 and December 31, 2015 was $3,141 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 on 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 of 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 September 30, 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 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 and nine months ended September 30, 2016 , the Company recognized incentive fees of $2,931 and $18,121 , respectively. For the three and nine months ended September 30, 2015, the Company recognized incentive fees of $111 and $3,082 , respectively. In the third quarter of 2016, concurrent with the formation of Strategic Office Partners, the Company entered into property management and leasing agreements with the venture, which provide for fees related to property management, property management, and leasing services. Additionally, the Company will receive an asset management fee of 0.35% of aggregate purchase price as well as a 5.0% promoted interest after achieving an internal rate of return of 13.5% from our investment in Strategic Office Partners. 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, as well as realized foreign currency exchange gains (losses).
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 its 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 limited partnership interests in the Company’s Operating Partnership, or LTIP Units
Foreign Currency	Foreign Currency Gramercy Europe Asset Management operates an asset and property management business located in the United Kingdom. The Company owns one property located in the United Kingdom, two properties in Canada, and has unconsolidated equity investments in Europe and Asia. The Company also has outstanding borrowings denominated in euros and British pounds sterling under the multicurrency portion of its revolving credit facility. Refer to Note 5 for more information on the Company’s foreign unconsolidated equity investments. Foreign Currency Translation The Company has interests in Europe and Canada, for which the functional currencies are the euro, the British pound sterling and the Canadian dollar. The Company performs the translation from the euro, the British pound sterling or the Canadian dollar, to the U.S. dollar for assets and liabilities using the exchange rates in effect at the balance sheet date and for revenues and expenses 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). The Company recorded net translation gains (losses) of $(1,120) and $(3,687) for the three and nine months ended September 30, 2016 , respectively. The Company recorded a net translation loss of $(360) and $(309) for the three and nine months ended September 30, 2015, respectively. These translation gains and losses are reclassified to earnings when the Company has substantially exited from all investments in the related currency. Foreign Currency Transactions A transaction gain or loss realized upon settlement of a foreign currency transaction will be included in earnings during 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, and 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 between foreign operations of subsidiaries or equity investments and the parent company.
Derivatives and Non-Derivative Hedging Instruments	Derivatives and Non-Derivative Hedging Instruments In the normal course of business, the Company is exposed to the effect of interest rate 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 derivative and hedging 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 derivatives and non-derivative hedging instruments typically include interest rate swaps, caps, collars and floors, foreign currency forward contracts, as well as non-derivative net investment hedges. The Company expressly prohibits the use of unconventional derivative instruments and the use of 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 designated as 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 hedging derivative’s change in fair value is 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, foreign exchange 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. The Company’s non-derivative hedging instrument, the multicurrency tranche of the Company’s 2015 Revolving Credit Facility, is reported at carrying value on its Condensed Consolidated Balance Sheets. As the Company’s non-derivative net investment hedges are denominated in euros and British pounds sterling, the Company translates the carrying value of the hedges from foreign currency 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 adjustments associated with the hedged net investments reported in the cumulative translation adjustment within other comprehensive income (loss). Refer to Note 10 for more information on the Company’s derivatives 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. 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 Company recognized its Retained CDO Bonds at fair value 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 90.0% 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 and nine months ended September 30, 2016 , the Company recorded $331 and $3,734 of income tax expense, respectively. For the three and nine months ended September 30, 2015, the Company recorded $985 and $2,116 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 dilutive instruments and is computed by dividing net income available to 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 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.
Reclassifications	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 is a comprehensive new revenue recognition model requiring a company to recognize revenue to depict the transfer of goods or services to customers in an amount reflecting the consideration it expects to receive in exchange for those goods or services. The guidance also requires enhanced disclosures related to the nature, amount, timing, and uncertainty of revenue that is recognized. In April 2016, the FASB issued ASU 2016-10, which amends the new revenue recognition guidance on identifying performance obligations. The new revenue recognition guidance is effective for the first interim period within annual reporting periods beginning after December 15, 2017, with early adoption permitted for the first interim period within annual reporting periods beginning after December 15, 2016. Companies may use either a full retrospective or a modified retrospective approach to adopt the new guidance. 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. In June 2016, the FASB issued ASU 2016-13, Financial Instruments - Credit Losses, which amends the existing accounting guidance related to credit losses on financial instruments. The amendments in the update replace t he incurred loss impairment methodology in the current accounting standards with a methodology that reflects expected credit losses and requires consideration of a broader range of reasonable and supportable information to inform credit loss estimates. The update is effective for annual and interim periods beginning after December 15, 2019, with early adoption permitted. The Company is currently evaluating the impact of adopting the update on its Condensed Consolidated Financial Statements. In August 2016, the FASB issued ASU 2016-15, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which serves to reduce the diversity in practice in how certain cash receipts and cash payments are presented and classified in the statement of cash flows. The update is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years, with early adoption permitted. The Company is currently evaluating the impact of adopting the update on its Condensed Consolidated Financial Statements.

Significant Accounting Polici26

Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
Schedule of Intangible Assets and Acquired Lease Obligations	Intangible assets and liabilities consist of the following: September 30, 2016 December 31, 2015 Intangible assets: In-place leases, net of accumulated amortization of $108,993 and $49,125 $ 514,659 $ 644,540 Above-market leases, net of accumulated amortization of $14,519 and $5,051 65,663 94,202 Below-market ground rent, net of accumulated amortization of $242 and $147 5,141 5,236 Amounts related to assets held for sale, net of accumulated amortization of $0 (607 ) (61,804 ) Total intangible assets $ 584,856 $ 682,174 Intangible liabilities: Below-market leases, net of accumulated amortization of $26,836 and $16,934 $ 221,191 $ 255,452 Above-market ground rent, net of accumulated amortization of $219 and $149 3,452 3,522 Amounts related to liabilities of assets held for sale, net of accumulated amortization of $0 — (16,518 ) Total intangible liabilities $ 224,643 $ 242,456
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The following table provides the weighted-average amortization period as of September 30, 2016 for intangible assets and liabilities and the projected amortization expense for the next five years. Weighted-Average Amortization Period October 1 to December 31, 2016 2017 2018 2019 2020 In-place leases 10.1 $ 22,804 $ 80,438 $ 72,120 $ 61,496 $ 50,429 Total to be included in depreciation and amortization expense $ 22,804 $ 80,438 $ 72,120 $ 61,496 $ 50,429 Above-market lease assets 7.8 $ 3,434 $ 11,807 $ 10,653 $ 9,522 $ 7,402 Below-market lease liabilities 20.2 (3,853 ) (12,455 ) (12,328 ) (12,160 ) (11,930 ) Total to be included in rental revenue $ (419 ) $ (648 ) $ (1,675 ) $ (2,638 ) $ (4,528 ) Below-market ground rent 41.6 $ 32 $ 127 $ 127 $ 127 $ 127 Above-market ground rent 36.8 (23 ) (94 ) (94 ) (94 ) (94 ) Total to be included in property operating expense $ 9 $ 33 $ 33 $ 33 $ 33
Schedule of Variable Interest Entities	The following is a summary of the Company’s involvement with VIEs as of September 30, 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 Partnership $ 5,183,230 $ 2,409,055 $ 5,183,230 $ 2,409,055 Proportion Foods $ 16,850 $ 4,494 $ 16,850 $ 17,343 Gramercy Europe Asset Management (European Fund Manager) $ 1,028 $ 13 $ 1,028 $ 1,366 Unconsolidated VIEs Gramercy Europe Asset Management (European Fund Carry Co.) $ — $ — $ 37 $ — Retained CDO Bonds $ 8,439 $ — $ 1,022,686 $ 1,117,564 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 September 30, 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 $ 382,104 $ 7,888 $ 551 $ — $ 8,439 1.9 Total 9 $ 382,104 $ 7,888 $ 551 $ — $ 8,439 1.9
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 nine months ended September 30, 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 (841 ) (3,622 ) Balance as of September 30, 2016 and December 31, 2015, respectively, of credit losses (gains) on Retained CDO Bonds for which a portion of an OTTI was recognized in other comprehensive income $ 2,355 $ 3,196

Dispositions, Assets Held for27

Dispositions, Assets Held for Sale, and Discontinued Operations (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 and December 31, 2015 : Assets held for sale September 30, 2016 December 31, 2015 Real estate investments $ 9,950 $ 348,582 Acquired lease assets 607 61,804 Other assets 452 10,099 Total assets 11,009 420,485 Liabilities related to assets held for sale Mortgage notes payable, net — 260,704 Below-market lease liabilities — 16,518 Other liabilities 129 14,142 Total liabilities 129 291,364 Net assets held for sale $ 10,880 $ 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 and nine months ended September 30, 2016 and 2015 are included in discontinued operations for all periods presented: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Operating Results: Revenues $ 262 $ 19 $ 6,258 $ (10 ) Operating expenses (58 ) (46 ) (2,293 ) 202 General and administrative expense (3 ) (14 ) (41 ) (175 ) Interest expense 148 — (807 ) — Depreciation and amortization (2 ) — (2 ) — Gain on extinguishment of debt — — 1,930 — Net income from discontinued operations $ 347 $ (41 ) $ 5,045 $ 17
Schedule of Significant Operating and Investing Noncash Items	The table below presents additional relevant information pertaining to results of discontinued operations for the nine months ended September 30, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Nine Months Ended September 30, 2016 2015 Amortization expense $ 2 $ — Significant operating noncash items (9,647 ) — Total $ (9,645 ) $ — The following table represents supplemental cash flow disclosures for the three and nine months ended September 30, 2016 and 2015 : Nine Months Ended September 30, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 59,700 $ 22,388 Income taxes paid $ 2,614 $ 1,238 Proceeds from 1031 exchanges from sale of real estate $ 617,538 $ 8,619 Use of funds from 1031 exchanges for acquisitions of real estate $ (460,191 ) $ (8,619 ) Non-cash activity: Fair value adjustment to noncontrolling interest in the Operating Partnership $ 2,741 $ (1,390 ) Debt assumed in acquisition of real estate $ (45,958 ) $ 153,877 Debt transferred in disposition of real estate $ (101,432 ) $ — Treasury securities transferred in connection with defeasance of notes payable $ (144,063 ) $ — Transfer of defeased note payable $ 124,605 $ — Contribution of real estate assets as investment in unconsolidated equity investments $ (182,168 ) $ — Redemption of units of noncontrolling interest in the Operating Partnership for common shares $ (4,159 ) $ (3,127 ) Distribution of real estate assets from unconsolidated equity investment $ 263,015 $ — Non-cash activities recognized in other comprehensive income: Change in net unrealized loss on securities available for sale $ (459 ) $ 6,129 Deferred losses and other non-cash activity related to derivatives $ (25,996 ) $ (3,248 ) Non-cash effect of foreign currency translation adjustments $ (3,687 ) $ (309 )

Real Estate Investments (Tables

Real Estate Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Schedule of Business Acquisitions, by Acquisition	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 Nine Months Ended September 30, 2016 26 $ 420,685 $ 62,425 $ 11,648 Year Ended December 31, 2015 (1) 1 $ 7,947 $ — $ — (1) Allocations exclude the properties acquired as part of the Merger, which are separately disclosed below in the section, “Merger with Chambers.” Additionally, allocations shown represent the real estate assets of Proportion Foods, a consolidated VIE. Refer to Note 2 for more information on Proportion Foods. The aggregate changes from the preliminary purchase price allocations to the finalized purchase price allocations, in accordance with ASU 2015-16, are shown in the table below: Preliminary Allocations recorded Finalized Allocations recorded Period Finalized No. of Acquisitions Real Estate Assets Intangible Assets Intangible Liabilities Real Estate Assets Intangible Assets Intangible Liabilities Increase (Decrease) to Rental Revenue Increase to Depreciation and Amortization Expense Nine Months Ended September 30, 2016 34 $ 701,513 $ 6,049 $ 1,037 $ 665,748 $ 48,499 $ 7,722 $ (30 ) $ (7 ) Year Ended December 31, 2015 (1) 136 $ 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 a portfolio of properties primarily leased to Bank of America, N.A.
Business Acquisition, Pro Forma Information	The table includes pro forma operating results for the assets acquired in the Merger. Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Pro forma revenues (1) $ 126,644 $ 121,652 $ 378,674 $ 363,337 Pro forma net income available to common shareholders (1), (2) $ (5,643 ) $ 13,157 $ 16,729 $ 41,706 Pro forma income per common share-basic $ (0.01 ) $ 0.07 $ 0.04 $ 0.25 Pro forma income per common share-diluted $ (0.01 ) $ 0.07 $ 0.04 $ 0.24 Pro forma common shares-basic 420,772,508 183,945,495 423,542,467 169,781,590 Pro forma common share-diluted 420,772,508 187,683,631 427,163,126 175,551,239 (1) The pro forma results for all periods presented include adjustments to reflect the Company’s continuing 5.1% interest in the Goodman Europe JV, its 100.0% interest in the seven properties it received through distribution from the Duke JV on June 30, 2016, and its 25.0% interest in Strategic Office Partners. (2) 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 finalized purchase price allocation: Assets Investments: Land $ 258,451 Buildings and improvements 1,628,335 Net investments 1,886,786 Cash and cash equivalents 24,687 Restricted cash 8,990 Unconsolidated equity investments 563,888 Tenant and other receivables, net 11,166 Acquired lease assets 411,361 Deferred costs and other assets 5,002 Assets held for sale 414,187 Total assets $ 3,326,067 Liabilities Mortgage notes payable $ 220,429 Revolving credit facilities and term loans 860,000 Below-market lease liabilities 41,130 Accounts payable, accrued expenses, and other liabilities 82,773 Liabilities related to assets held for sale 292,494 Total liabilities $ 1,496,826 Fair value of net assets acquired $ 1,829,241

Unconsolidated Equity Investm29

Unconsolidated Equity Investments (Tables)	9 Months Ended
	Sep. 30, 2016
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]
Equity Method Investments	As of September 30, 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 September 30, 2016 As of December 31, 2015 Investment Ownership % Voting Interest % Partner Investment in Unconsolidated Equity Investment (1) No. of Properties Investment in Unconsolidated Equity Investment (1) No. of Properties Gramercy European Property Fund (2), (3) 14.2 % 14.2 % Various $ 52,611 24 $ 23,381 12 Philips JV 25.0 % 25.0 % Various — 1 — 1 Duke JV (4) 80.0 % 50.0 % Duke Realty — — 352,932 13 Goodman Europe JV (3) 5.1 % 5.1 % Gramercy European Property Fund 9,126 9 158,863 9 Goodman UK JV 80.0 % 50.0 % Goodman Group 35,525 3 36,698 3 CBRE Strategic Partners Asia 5.1 % 5.1 % Various 4,557 2 5,508 2 Morristown JV 50.0 % 50.0 % 21 South Street 2,620 1 2,618 1 Strategic Office Partners 25.0 % 25.0 % TPG Real Estate 15,737 6 — — Total $ 120,176 46 $ 580,000 41 (1) The amounts presented include basis differences of $2,603 and $6,607 , net of accumulated amortization, for the Goodman Europe JV and Goodman UK JV, respectively, as of September 30, 2016 . The amounts presented include basis differences of $136,198 , $37,371 and $6,578 , net of accumulated amortization, for the Duke JV, Goodman Europe JV, and Goodman UK JV, respectively, as of December 31, 2015. (2) Includes European Fund Carry Co., which has a carrying value of $9 and $0 for the Company’s 25.0% interest as of September 30, 2016 and December 31, 2015, respectively. (3) As of September 30, 2016, the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest of Goodman Europe JV through its 14.2% interest in the Gramercy European Property Fund. In the table above, as of September 30, 2016, the Company’s 94.9% interest in Goodman Europe JV held through its 14.2% interest in the Gramercy European Property Fund is included in the amount shown for the Gramercy European Property Fund and the Company’s 5.1% direct interest in the Goodman Europe JV is presented separately as the amount shown for the Goodman Europe JV. (4) The Duke JV was dissolved following the sale of its final property in July 2016. The Company’s ownership and voting interest in the Duke JV that are presented here represent values prior to its dissolution.
Summary Investment Holdings	The following is a summary of the Company’s unconsolidated equity investments for the nine months ended September 30, 2016 : Unconsolidated Equity Investments Balance as of December 31, 2015 $ 580,000 Contributions to unconsolidated equity investments (1) 76,856 Equity in net loss of unconsolidated equity investments, including adjustments for basis differences (4,061 ) Other comprehensive loss of unconsolidated equity investments (1,086 ) Distributions from unconsolidated equity investments (2) (395,838 ) Purchase price allocation adjustments 5,000 Gains on sale and dissolution of unconsolidated equity investment interests 12,570 Sale of unconsolidated equity investment interests (148,884 ) Receivable from dissolution of joint venture (644 ) Reclassification of accumulated foreign currency translation adjustments due to disposal (3,737 ) Balance as of September 30, 2016 $ 120,176 (1) Includes the fair value of the six properties of $46,608 contributed by the Company to Strategic Office Partners. (2) Includes the fair value of the seven properties of $276,100 distributed by the Duke JV to the Company.
Schedule of Combined Balance Sheet for the Company's Joint Venture	The Condensed Consolidated Balance Sheets for the Company’s unconsolidated equity investments at September 30, 2016 are as follows: Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund (2) Total Strategic Office Partners Goodman UK JV CBRE Strategic Partners Asia Other (3) Assets: Real estate assets, net (4) $ 307,398 $ 359,246 $ 666,644 $ 155,783 $ 37,716 $ 95,477 $ 49,860 Other assets 40,389 59,942 100,331 34,590 4,433 12,086 3,397 Total assets $ 347,787 $ 419,188 $ 766,975 $ 190,373 $ 42,149 $ 107,563 $ 53,257 Liabilities and members’ equity: Mortgages payable $ 135,716 $ 206,778 $ 342,494 $ 121,608 $ — $ — $ 40,130 Other liabilities 8,758 25,853 34,611 3,738 (606 ) 13,782 3,448 Total liabilities 144,474 232,631 377,105 125,346 (606 ) 13,782 43,578 Gramercy Property Trust equity 33,282 28,446 61,728 15,737 35,525 4,557 2,629 Other members’ equity 170,031 158,111 328,142 49,290 7,230 89,224 7,050 Liabilities and members’ equity $ 347,787 $ 419,188 $ 766,975 $ 190,373 $ 42,149 $ 107,563 $ 53,257 (1) As of September 30, 2016 , the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. In the table above, the Company’s equity interest in the Goodman Europe JV includes both its direct 5.1% interest as well as its indirect interest that is held through its 14.2% interest in the Gramercy European Property Fund, and the Company’s equity interest in the Gramercy European Property Fund represents its interest in all of the properties owned by the Gramercy European Property Fund except for the properties in the Goodman Europe JV. (2) Excludes the Gramercy European Property Fund’s 94.9% interest in the Goodman Europe JV. (3) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (4) Includes 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: Goodman Europe JV Gramercy European Property Fund Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (1) Assets: Real estate assets, net (2) $ 276,925 $ 236,312 $ 42,584 $ 443,313 $ 109,554 $ 50,698 Other assets 42,139 39,983 3,427 32,739 9,337 15,954 Total assets $ 319,064 $ 276,295 $ 46,011 $ 476,052 $ 118,891 $ 66,652 Liabilities and members’ equity: Mortgages payable $ 121,350 $ 143,616 $ — $ 56,105 $ — $ 40,424 Other liabilities 8,622 14,581 1,783 6,035 13,948 16,540 Total liabilities 129,972 158,197 1,783 62,140 13,948 56,964 Gramercy Property Trust equity 158,863 23,385 36,698 352,932 5,508 2,614 Other members’ equity 30,229 94,713 7,530 60,980 99,435 7,074 Liabilities and members’ equity $ 319,064 $ 276,295 $ 46,011 $ 476,052 $ 118,891 $ 66,652 (1) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (2) Includes 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 statements of operations for the unconsolidated equity investments for the three months ended September 30, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Three Months Ended September 30, 2016 For the Three Months Ended September 30, 2015 Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund Total Strategic Office Partners Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (2) All Unconsolidated Equity Investments (3) Revenues $ 6,195 $ 7,329 $ 13,524 $ 1,291 $ 557 $ 417 $ (11,557 ) $ 1,080 $ 1,975 Operating expenses 676 1,619 2,295 280 225 191 341 129 375 Acquisition expenses — 2,141 2,141 664 — — — — 5,289 Interest expense 653 1,138 1,791 410 — — — 698 700 Depreciation and amortization 3,276 2,800 6,076 898 339 — — 333 820 Total expenses 4,605 7,698 12,303 2,252 564 191 341 1,160 7,184 Net income (loss) from operations 1,590 (369 ) 1,221 (961 ) (7 ) 226 (11,898 ) (80 ) (5,209 ) Loss on derivatives — (1,124 ) (1,124 ) (129 ) — — — — (591 ) Net gain on disposals — — — — — 28,170 — — — Provision for taxes — (284 ) (284 ) — — — — — (178 ) Net income (loss) $ 1,590 $ (1,777 ) $ (187 ) $ (1,090 ) $ (7 ) $ 28,396 $ (11,898 ) $ (80 ) $ (5,978 ) Company’s share in net income (loss) $ 322 $ (252 ) $ 70 $ (273 ) $ (6 ) $ 20,749 $ (605 ) $ (4 ) $ (1,096 ) Basis adjustments 11 — 11 — (183 ) (20,897 ) — — — Company’s equity in net income (loss) within continuing operations $ 333 $ (252 ) $ 81 $ (273 ) $ (189 ) $ (148 ) $ (605 ) $ (4 ) $ (1,096 ) (1) As of and for the three months ended September 30, 2016 , the Company had a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. For the three months ended September 30, 2016, the Company’s equity in net income (loss) from the entities is based on these ownership interest percentages during the period. (2) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (3) Represents the Gramercy European Property Fund and the Philips JV. The Condensed Consolidated Statements of Operations for the unconsolidated equity investments for the nine months ended September 30, 2016 and 2015 or partial period for acquisitions or dispositions which closed during these periods, are as follows: For the Nine Months Ended September 30, 2016 For the Nine Months Ended September 30, 2015 Gramercy European Property Fund (1) Goodman Europe JV Gramercy European Property Fund Total Strategic Office Partners Goodman UK JV Duke JV CBRE Strategic Partners Asia Other (2) All Unconsolidated Equity Investments (3) Revenues $ 18,389 $ 18,270 $ 36,659 $ 1,291 $ 5,477 $ 19,812 $ (11,315 ) $ 3,245 $ 4,249 Operating expenses 2,372 3,188 5,560 280 698 5,309 1,208 342 903 Acquisition expenses 4,960 4,678 9,638 664 — — — 27 5,289 Interest expense 2,519 3,032 5,551 410 — 602 — 2,131 1,795 Depreciation and amortization 7,907 7,632 15,539 898 1,461 7,154 — 998 1,658 Total expenses 17,758 18,530 36,288 2,252 2,159 13,065 1,208 3,498 9,645 Net income (loss) from operations 631 (260 ) 371 (961 ) 3,318 6,747 (12,523 ) (253 ) (5,396 ) Loss on derivatives — (6,428 ) (6,428 ) (129 ) — — — — (591 ) Loss on extinguishment of debt — — — — — (7,962 ) — — — Net gains on disposals — — — — — 66,705 — — — Provision for taxes — (876 ) (876 ) — — — — — (178 ) Net income (loss) $ 631 $ (7,564 ) $ (6,933 ) $ (1,090 ) $ 3,318 $ 65,490 $ (12,523 ) $ (253 ) $ (6,165 ) Company’s share in net income (loss) $ (444 ) $ (1,386 ) $ (1,830 ) $ (273 ) $ 2,655 $ 50,424 $ (641 ) $ — $ (974 ) Basis adjustments 455 — 455 — (461 ) (54,390 ) — — — Company’s equity in net income (loss) within continuing operations $ 11 $ (1,386 ) $ (1,375 ) $ (273 ) $ 2,194 $ (3,966 ) $ (641 ) $ — $ (974 ) (1) On May 31, 2016, the Gramercy European Property Fund acquired a 20.0% interest in the Goodman Europe JV and on June 30, 2016, the Gramercy European Property Fund acquired 74.9% of the Company’s 80.0% interest in the Goodman Europe JV. As of September 30, 2016 , the Company has a 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. For the nine months ended September 30, 2016 , the Company’s equity in net income (loss) from the entities is based on these ownership interest percentages during the period. (2) Includes the Philips JV, the Morristown JV, and European Fund Carry Co. (3) Represents the Gramercy European Property Fund and the Philips JV.
Schedule of Long-term Debt	The following is a summary of the secured financing arrangements within the Company’s unconsolidated equity investments as of September 30, 2016 : Outstanding Balance (2) Property Unconsolidated Equity Investment Economic Ownership Interest Rate (1) Maturity Date September 30, 2016 December 31, 2015 Durrholz, Germany Gramercy European Property Fund 14.2% 1.52% 3/31/2020 $ 13,128 $ 12,937 Oud Beijerland, Netherlands Gramercy European Property Fund 14.2% 2.06% 12/30/2022 8,663 8,463 Zaandam, Netherlands Gramercy European Property Fund 14.2% 2.05% 12/30/2022 12,492 12,203 Kerkrade, Netherlands Gramercy European Property Fund 14.2% 2.05% 12/30/2022 10,320 10,081 Friedrichspark, Germany Gramercy European Property Fund 14.2% 2.05% 12/30/2022 9,325 9,109 Fredersdorf, Germany Gramercy European Property Fund 14.2% 2.05% 12/30/2022 12,063 11,783 Breda, Netherlands Gramercy European Property Fund 14.2% 1.87% 12/30/2022 10,668 7,796 Juechen, Germany Gramercy European Property Fund 14.2% 1.86% 12/30/2022 20,220 19,750 Piaseczno, Poland Gramercy European Property Fund 14.2% 1.95% 12/30/2022 8,731 8,522 Strykow, Poland Gramercy European Property Fund 14.2% 1.95% 12/30/2022 20,558 20,063 Venray, Germany Gramercy European Property Fund 14.2% 3.32% 12/2/2020 13,938 13,578 Uden, Netherlands Gramercy European Property Fund 14.2% 1.95% 12/30/2022 9,560 9,331 Rotterdam, Netherlands Gramercy European Property Fund 14.2% 1.86% 12/30/2022 8,180 — Kutno, Poland Gramercy European Property Fund 14.2% 1.91% 7/21/2023 6,292 — Frechen, Germany Gramercy European Property Fund 14.2% 1.46% 12/30/2022 6,476 — Netherlands Portfolio (5) Gramercy European Property Fund 14.2% 3.02% 6/28/2023 14,325 — Meerane, Germany Gramercy European Property Fund 14.2% 1.32% 12/30/2022 10,864 — Graben, Germany (3) Goodman Europe JV 18.6% (4) 2.39% 7/27/2017 34,941 33,781 Koblenz Germany Goodman Europe JV 18.6% (4) 2.27% 12/12/2017 35,671 34,486 Bremen, Germany Goodman Europe JV 18.6% (4) 3.01% 11/25/2020 13,257 12,817 Bodenheim, Germany Goodman Europe JV 18.6% (4) 3.01% 11/25/2020 12,718 12,296 Lille, France Goodman Europe JV 18.6% (4) 3.13% 12/17/2020 28,930 27,970 Carlisle, United Kingdom Gramercy European Property Fund 14.2% 3.32% 2/19/2021 10,978 — Strategic Office Partners Portfolio (7) Strategic Office Partners 25.0% 3.60% 10/7/2019 125,000 — Somerset, NJ Philips JV 25.0% 6.90% 9/11/2035 40,130 40,424 Lake Forest, IL Duke JV 80.0% N/A N/A — 8,823 Tampa, FL Duke JV 80.0% N/A N/A — 4,231 Fort Lauderdale, FL (6) Duke JV 80.0% N/A N/A — 43,051 Total $ 497,428 $ 361,495 (1) Represents the current effective rate as of September 30, 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) Mortgage loans amounts are presented at 100.0% of the amount in the unconsolidated equity investment. (3) Represents two properties under this mortgage loan. (4) Represents the Company’s economic ownership in the Goodman Europe JV, which includes both its 5.1% direct interest in the Goodman Europe JV as well as an indirect interest in the remaining 94.9% interest that is held through the Company’s 14.2% interest in the Gramercy European Property Fund. (5) Represents five properties under this mortgage loan. (6) Represents four properties under this mortgage loan. (7) Represents six properties under this mortgage loan.

Debt Obligations (Tables)

Debt Obligations (Tables)	9 Months Ended
	Sep. 30, 2016
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable	The following is a summary of the Company’s secured financing arrangements as of September 30, 2016 : Property Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 Buford, GA 7.46% 7/1/2017 $ 15,625 $ 15,947 Dallas, TX (2) 4.45% 3/1/2018 9,594 9,754 Cincinnati, KY (2) 4.45% 3/1/2018 6,666 6,777 Jacksonville, FL (2) 4.45% 3/1/2018 6,891 7,006 Phoenix, AZ (2) 4.45% 3/1/2018 4,144 4,213 Minneapolis, MN (2) 4.45% 3/1/2018 6,036 6,136 Ames, IA 5.53% 5/1/2018 16,556 16,900 Greenwood, IN 3.28% 6/15/2018 7,480 7,610 Greenfield, IN 3.28% 6/15/2018 6,045 6,150 Philadelphia, PA 4.28% 1/1/2019 12,423 12,696 Bridgeview, IL 7.40% 5/1/2019 6,056 — KIK Canada Portfolio (3) 3.58% 5/5/2019 8,186 — Spartanburg, SC 5.42% 6/1/2019 1,120 1,398 Charleston, SC 5.65% 8/1/2019 1,113 1,486 Lawrence, IN 4.00% 1/1/2020 20,860 21,371 Charlotte, NC 5.47% 1/1/2020 2,381 2,859 Hawthorne, CA 6.60% 8/1/2020 17,748 18,108 Charleston, SC 5.20% 10/1/2020 1,041 1,210 Charleston, SC 5.20% 10/1/2020 1,041 1,210 Charleston, SC 5.20% 10/1/2020 1,059 1,230 Charlotte, NC 5.27% 10/1/2020 903 1,049 Des Plaines, IL 5.25% 10/31/2020 2,482 2,537 Waco, TX 4.55% 12/19/2020 15,262 15,485 Winston-Salem, NC 5.53% 6/1/2021 4,403 4,998 Winston-Salem, NC 5.50% 7/1/2021 1,454 1,647 CCC Portfolio (4) 4.54% 10/6/2022 23,393 — KIK USA Portfolio (5) 4.82% 7/6/2023 7,522 — Yuma, AZ 5.15% 12/6/2023 12,107 12,247 Allentown, PA 5.07% 1/6/2024 23,172 23,443 Spartanburg, SC 6.33% 2/1/2024 6,534 7,040 Charleston, SC 5.80% 2/1/2025 6,816 7,277 Hackettstown, NJ 5.15% 3/6/2026 9,550 — Hutchins, TX 6.95% 6/1/2029 23,048 23,870 Woodcliff Lake, NJ 5.97% 9/15/2017 35,703 36,681 Columbus, OH 3.78% 5/31/2018 19,942 20,644 Columbus, OH 3.95% 1/31/2019 5,955 6,094 Deerfield, IL 4.75% 1/1/2021 10,890 11,145 Wilson, NC N/A N/A — 8,603 Dividend Capital Portfolio (6) N/A N/A — 126,161 Charlotte, NC N/A N/A — 13,025 Coppell, TX N/A N/A — 10,391 Jersey City, NJ (7) N/A N/A — 112,000 Jersey City, NJ (7) N/A N/A — 101,726 Blue Ash, OH (7) N/A N/A — 14,896 Blue Ash, OH (7) N/A N/A — 13,139 Blue Ash, OH (7) N/A N/A — 12,485 Property Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 Bloomington, MN N/A N/A — 19,824 Bloomington, MN N/A N/A — 21,825 Total mortgage notes payable 361,201 770,293 Plus net deferred financing costs and net debt premium (8) 7,185 20,633 Total mortgage notes payable, net 368,386 790,926 Total mortgage notes payable, net on assets held for sale — (260,704 ) Total mortgage notes payable, net $ 368,386 $ 530,222 (1) Represents the current interest rate as of September 30, 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) These five mortgage loans are cross-collateralized. (3) Represents two properties under one mortgage loan. (4) Represents five properties under one mortgage loan. (5) Represents three properties under one mortgage loan. (6) Represents 11 properties under one mortgage loan. (7) 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 Condensed Consolidated Balance Sheet as of December 31, 2015. These properties were sold and their loans were paid off during the first quarter of 2016. (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 September 30, 2016 and December 31, 2015 , are set forth in the table below: Unswapped Interest Rate Effective Interest Rate (1) Maturity Date Outstanding Balance September 30, 2016 December 31, 2015 2015 Revolving Credit Facility - U.S. dollar tranche 1.51 % 1.51 % 1/8/2020 $ 70,000 $ 275,000 2015 Revolving Credit Facility - Multicurrency tranche 1.07 % 1.07 % 1/8/2020 93,365 21,724 3-Year Term Loan 1.66 % 1.66 % 1/8/2019 300,000 300,000 5-Year Term Loan 1.66 % 2.70 % 1/8/2021 750,000 750,000 7-Year Term Loan 2.05 % 3.34 % 1/9/2023 175,000 175,000 Total Unsecured Revolving Credit and Term Loan Facilities $ 1,388,365 $ 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 September 30, 2016 are as follows: 2015 Revolving Credit Facility Term Loans Mortgage Notes Payable Senior Unsecured Notes Exchangeable Senior Notes Interest Payments Total October 1 to December 31, 2016 $ — $ — $ 3,558 $ — $ — $ 14,085 $ 17,643 2017 — — 63,995 — — 54,530 118,525 2018 — — 91,291 — — 51,469 142,760 2019 — 300,000 39,936 — 115,000 42,599 497,535 2020 163,365 — 58,907 — — 36,715 258,987 Thereafter — 925,000 103,514 150,000 — 58,080 1,236,594 Below market interest — — — — — (651 ) (651 ) Total $ 163,365 $ 1,225,000 $ 361,201 $ 150,000 $ 115,000 $ 256,827 $ 2,271,393

Leasing Agreements (Tables)

Leasing Agreements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 are as follows: Operating Leases October 1 to December 31, 2016 $ 86,390 2017 347,694 2018 341,886 2019 320,834 2020 295,084 Thereafter 1,762,937 Total minimum lease rental income $ 3,154,825

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 and December 31, 2015 : September 30, 2016 December 31, 2015 Carrying Value Fair Value Carrying Value Fair Value Financial assets: Retained CDO Bonds (1) $ 8,439 $ 8,439 $ 7,471 $ 7,471 Investment in CBRE Strategic Partners Asia $ 4,557 $ 4,557 $ 5,508 $ 5,508 Real estate investments classified as held for sale at Merger closing (2) $ 10,558 $ 10,558 $ 393,984 $ 393,984 Financial liabilities: Derivative instruments Interest rate swaps $ 28,613 $ 28,613 $ 3,442 $ 3,442 Long-term debt Revolving credit facilities (3) $ 163,365 $ 163,003 $ 296,724 $ 297,394 3-Year Term Loan (3) $ 300,000 $ 298,578 $ 300,000 $ 300,349 5-Year Term Loan (3) $ 750,000 $ 743,273 $ 750,000 $ 751,304 7-Year Term Loan (3) $ 175,000 $ 172,723 $ 175,000 $ 175,338 Mortgage notes payable (3), (4) $ 368,386 $ 379,372 $ 770,293 $ 805,590 Senior Unsecured Notes (3) $ 148,978 $ 157,786 $ 100,000 $ 100,528 Exchangeable Senior Notes (3) $ 108,186 $ 116,843 $ 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) Amounts include one and six real estate investments as of September 30, 2016 and December 31, 2015, respectively, classified as held for sale at Merger closing, which are included in discontinued operations. (3) Long-term debt instruments are classified as Level III due to the significance of unobservable inputs which are based upon management assumptions. (4) 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 September 30, 2016 .
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 September 30, 2016 Total Level I Level II Level III Financial Assets: Retained CDO Bonds: Non-investment grade, subordinate CDO bonds $ 8,439 $ — $ — $ 8,439 Marketable securities: Investment in CBRE Strategic Partners Asia 4,557 — — 4,557 Real estate investments classified as held for sale at Merger closing 10,558 — — 10,558 $ 23,554 $ — $ — $ 23,554 Financial Liabilities: Derivative instruments: Interest rate swaps $ 28,613 $ — $ — $ 28,613 $ 28,613 $ — $ — $ 28,613 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 September 30, 2016 are: Financial Asset or Liability Fair Value Valuation Technique Unobservable Inputs Range Non-investment grade, subordinate CDO bonds $ 8,439 Discounted cash flows Discount rate 17.5% Interest rate swaps $ 28,613 Hypothetical derivative method Credit borrowing spread 135 to 245 basis points Investment in CBRE Strategic Partners Asia $ 4,557 Discounted cash flows Discount rate 20.0%
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 1,427 — 1,427 Adjustments to fair value: Unrealized gain in other comprehensive income from fair value adjustments (459 ) — (459 ) Total income on fair value adjustments — (637 ) (637 ) Purchase price allocation adjustments — (314 ) (314 ) Balance as of September 30, 2016 $ 8,439 $ 4,557 $ 12,996
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: Termination of derivative instrument (1) (8 ) Ineffective portion of change in derivative instruments (817 ) Unrealized loss on derivatives 25,996 Balance as of September 30, 2016 $ 28,613 (1) The Company terminated one interest rate swap in connection with repayment of the related mortgage loan, and as a result of this termination, the Company recorded loss of $8 during the three months ended September 30, 2016

Derivatives and Non-Derivativ33

Derivatives and Non-Derivative Hedging Instruments (Tables)	9 Months Ended
	Sep. 30, 2016
Derivative Instrument Detail [Abstract]
Schedule of Derivative Instruments	The following table summarizes the notional and fair value of the Company’s derivatives and hedging instruments at September 30, 2016 . The aggregate fair value of the Company’s derivatives is presented on its Condensed Consolidated Balance Sheets in d erivative instruments and the aggregate carrying value of the non-derivative net investment hedges 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. The Company’s derivatives and hedging instruments as of September 30, 2016 are as follows: Benchmark Rate Notional Value Strike Rate Effective Date Expiration Date Fair Value Interest Rate Swap - Waco 1 mo. USD-LIBOR-BBA 15,262 USD 4.55% 12/19/2013 12/19/2020 $ 882 Interest Rate Swap - Atrium I 1 mo. USD-LIBOR-BBA 19,942 USD 1.78% 8/16/2011 5/31/2018 323 Interest Rate Swap - Easton III 1 mo. USD-LIBOR-BBA 5,955 USD 1.95% 8/16/2011 1/31/2019 151 Interest Rate Swap - 5-Year Term Loan 1 mo. USD-LIBOR-BBA 750,000 USD 1.60% 12/17/2015 12/17/2020 19,515 Interest Rate Swap - 7-Year Term Loan 1 mo. USD-LIBOR-BBA 175,000 USD 1.82% 12/17/2015 1/9/2023 7,742 Net Investment Hedge in EUR-denominated investments USD-EUR exchange rate 45,000 EUR N/A 9/28/2015 N/A — Net Investment Hedge in GBP-denominated investments USD-GBP exchange rate 33,000 GBP N/A 7/15/2016 N/A — Total $ 28,613

Shareholders' Equity (Deficit)

Shareholders' Equity (Deficit) (Tables)	9 Months Ended
	Sep. 30, 2016
Equity [Abstract]
Dividends Declared	During the nine months ended September 30, 2016 , the Company’s common dividends are as follows: Quarter Ended Record Date Payment Date Common dividend per share March 31, 2016 March 31, 2016 April 15, 2016 $ 0.110 June 30, 2016 June 30, 2016 July 15, 2016 $ 0.110 September 30, 2016 September 30, 2016 October 14, 2016 $ 0.110
Schedule of Calculation of Numerator and Denominator in Earnings Per Share	Earnings per share for the three and nine months ended September 30, 2016 and 2015 are computed as follows: Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Numerator – Income (loss): Net income (loss) from continuing operations $ (3,411 ) $ 1,659 $ 14,461 $ 1,076 Net income (loss) from discontinued operations 347 (41 ) 5,045 17 Income (loss) before gains on disposals (3,064 ) 1,618 19,506 1,093 Net gains on disposals 2,336 392 2,336 593 Gain on sale of European unconsolidated equity investment interests held with a related party — — 5,341 — Net income (loss) (728 ) 2,010 27,183 1,686 Net (income) loss attributable to noncontrolling interest (221 ) (20 ) (152 ) 43 Nonforfeitable dividends allocated to unvested restricted shareholders (196 ) — (596 ) — Preferred share dividends (1,559 ) (1,559 ) (4,676 ) (4,676 ) Net income (loss) available to vested common shares outstanding $ (2,704 ) $ 431 $ 21,759 $ (2,947 ) Denominator – Weighted average shares (1) : Weighted average basic shares outstanding 420,772,508 183,945,495 423,542,467 169,781,590 Effect of dilutive securities: Unvested share based payment awards — 1,686,542 413,409 — Options — 37,975 41,406 — Phantom shares — 514,834 — — Shares related to OP Units — 1,498,785 1,199,312 — Exchangeable Senior Notes — — 1,966,532 — Diluted Shares 420,772,508 187,683,631 427,163,126 169,781,590 (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 September 30, 2016 and December 31, 2015 is comprised of the following: September 30, 2016 December 31, 2015 Net unrealized loss on derivative securities $ (32,070 ) $ (6,074 ) Net unrealized gain on debt instruments 551 1,010 Foreign currency translation adjustments: Gain (loss) on non-derivative net investment hedges (1) (161 ) 14 Other foreign currency translation adjustments (4,168 ) (656 ) Reclassification of accumulated foreign currency translation adjustments due to disposal (3,737 ) — Reclassification of swap gain (loss) into interest expense 868 (45 ) Total accumulated other comprehensive loss $ (38,717 ) $ (5,751 ) (1) The foreign currency translation adjustment associated with the Company’s non-derivative net investment hedges related to its European investments are included in other comprehensive income (loss).

Noncontrolling Interest (Tables

Noncontrolling Interest (Tables)	9 Months Ended
	Sep. 30, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interest in the Operating Partnership	Below is the rollforward of the activity relating to the noncontrolling interests in the Operating Partnership as of September 30, 2016 : Noncontrolling Interest Balance as of December 31, 2015 $ 10,892 Redemption of noncontrolling interests in the Operating Partnership (4,159 ) Net loss attribution 62 Fair value adjustments 2,741 Dividends (460 ) Balance as of September 30, 2016 $ 9,076

Commitments and Contingencies (

Commitments and Contingencies (Tables)	9 Months Ended
	Sep. 30, 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 October 1 to December 31, 2016 $ 432 $ — $ 432 2017 1,728 — 1,728 2018 1,731 — 1,731 2019 1,740 — 1,740 2020 1,732 — 1,732 Thereafter 48,062 329 48,391 Total minimum rent expense $ 55,425 $ 329 $ 55,754

Segment Reporting (Tables)

Segment Reporting (Tables)	9 Months Ended
	Sep. 30, 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 September 30, 2016 Total revenues $ 7,250 $ 123,842 $ 131,092 Equity in net loss from unconsolidated equity investments — (1,138 ) (1,138 ) Total operating and interest expense (1) (5,240 ) (128,125 ) (133,365 ) Net income from continuing operations $ 2,010 $ (5,421 ) $ (3,411 ) Asset Management Investments / Corporate Total Company Three Months Ended September 30, 2015 Total revenues $ 5,138 $ 60,075 $ 65,213 Equity in net loss from unconsolidated equity investments — (1,096 ) (1,096 ) Total operating and interest expense (1) (5,235 ) (57,223 ) (62,458 ) Net income (loss) from continuing operations $ (97 ) $ 1,756 $ 1,659 Asset Management Investments / Corporate Total Company Nine Months Ended September 30, 2016 Total revenues $ 30,824 $ 360,238 $ 391,062 Equity in net loss from unconsolidated equity investments — (4,061 ) (4,061 ) Total operating and interest expense (1) (19,222 ) (353,318 ) (372,540 ) Net income from continuing operations $ 11,602 $ 2,859 $ 14,461 Asset Management Investments / Corporate Total Company Nine Months Ended September 30, 2015 Total revenues $ 17,546 $ 149,749 $ 167,295 Equity in net loss from unconsolidated equity investments — (974 ) (974 ) Total operating and interest expense (1) (16,592 ) (148,653 ) (165,245 ) Net income from continuing operations $ 954 $ 122 $ 1,076 Asset Management Investments / Corporate Total Company Total Assets: September 30, 2016 $ 27,197 $ 5,156,033 $ 5,183,230 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 $62,863 and $25,120 and provision for taxes of $331 and $985 for the three months ended September 30, 2016 and 2015 , respectively, are included in the amounts presented above. Depreciation and amortization of $181,649 and $68,534 and provision for taxes of $3,734 and $2,116 for the nine months ended September 30, 2016 and 2015 , respectively, are included in the amounts presented above.

Supplemental Cash Flow Inform38

Supplemental Cash Flow Information (Tables)	9 Months Ended
	Sep. 30, 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 nine months ended September 30, 2016 and 2015 , including depreciation, amortization, capital expenditures, and significant operating and investing noncash items: Nine Months Ended September 30, 2016 2015 Amortization expense $ 2 $ — Significant operating noncash items (9,647 ) — Total $ (9,645 ) $ — The following table represents supplemental cash flow disclosures for the three and nine months ended September 30, 2016 and 2015 : Nine Months Ended September 30, 2016 2015 Supplemental cash flow disclosures: Interest paid $ 59,700 $ 22,388 Income taxes paid $ 2,614 $ 1,238 Proceeds from 1031 exchanges from sale of real estate $ 617,538 $ 8,619 Use of funds from 1031 exchanges for acquisitions of real estate $ (460,191 ) $ (8,619 ) Non-cash activity: Fair value adjustment to noncontrolling interest in the Operating Partnership $ 2,741 $ (1,390 ) Debt assumed in acquisition of real estate $ (45,958 ) $ 153,877 Debt transferred in disposition of real estate $ (101,432 ) $ — Treasury securities transferred in connection with defeasance of notes payable $ (144,063 ) $ — Transfer of defeased note payable $ 124,605 $ — Contribution of real estate assets as investment in unconsolidated equity investments $ (182,168 ) $ — Redemption of units of noncontrolling interest in the Operating Partnership for common shares $ (4,159 ) $ (3,127 ) Distribution of real estate assets from unconsolidated equity investment $ 263,015 $ — Non-cash activities recognized in other comprehensive income: Change in net unrealized loss on securities available for sale $ (459 ) $ 6,129 Deferred losses and other non-cash activity related to derivatives $ (25,996 ) $ (3,248 ) Non-cash effect of foreign currency translation adjustments $ (3,687 ) $ (309 )

Business and Organization (Narr

Business and Organization (Narrative) (Details) € in Thousands, $ in Thousands	Jun. 30, 2016USD ($)ft²Property	Jun. 30, 2016EUR (€)ft²Property	Aug. 31, 2016USD ($)Property	Sep. 30, 2016USD ($)ft²buildingProperty	Sep. 30, 2015Property	Sep. 30, 2016USD ($)ft²buildingProperty	Sep. 30, 2015USD ($)Property	Dec. 31, 2015USD ($)ft²Property	Jun. 29, 2016	Dec. 17, 2015shares
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | Property				46		46		41
Real estate properties				$ 4,103,332		$ 4,103,332		$ 3,931,677
Investment in unconsolidated equity investment				$ 120,176		$ 120,176		$ 580,000
Number of Acquisitions | Property						48		144
Square Feet | ft²						11,464,734		33,800,146
Purchase Price						$ 862,341		$ 3,726,563
Number of real estate properties sold | Property				10	2	20	5
Area of real estate properties sold | ft²				2,435,130
Proceeds from sale of property held-for-sale				$ 394,241		$ 1,041,941
Proceeds from sale of investment						$ 84,588	$ 0
Strategic Office Partners [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of real estate properties sold | Property				6
Area of real estate properties sold | ft²				980,825
Proceeds from sale of real estate				$ 187,500
GPT Property Trust Limited Partnership [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Ownership %				100.00%		100.00%
Ownership percentage by noncontrolling owners				0.22%		0.22%
Unconsolidated Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | building				46		46
Percentage of occupancy for leased office and industrial property				97.60%		97.60%
Duke Joint Venture [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | Property				0		0		13
Real estate properties				$ 276,100		$ 276,100
Ownership %				80.00%		80.00%
Investment in unconsolidated equity investment				$ 0		$ 0		$ 352,932
Number of Acquisitions | Property	7	7				7
Square Feet | ft²	4,189,630	4,189,630				4,189,630
Ownership percentage transferred	100.00%	100.00%
Purchase Price						$ 276,100
Strategic Office Partners [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | Property				6		6		0
Number of properties contributed | Property			6
Real estate properties			$ 187,500
Ownership %			25.00%	25.00%		25.00%
Investment in unconsolidated equity investment			$ 16,027	$ 15,737		$ 15,737		$ 0
Distribution received from joint venture			30,581
Strategic Office Partners [Member] | TPG Real Estate [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Real estate properties			$ 140,625
Ownership %			75.00%
Investment in unconsolidated equity investment			$ 46,608
Goodman Europe JV [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | Property				9		9		9
Ownership %				5.10%		5.10%			80.00%
Investment in unconsolidated equity investment				$ 9,126		$ 9,126		$ 158,863
Ownership percentage sold	74.90%	74.90%
Proceeds from sale of investment	$ 148,884	€ 134,336
Office [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Area of real estate property | ft²				5,070,129		5,070,129		336,000
Direct Ownership or Corporate Joint Venture [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Properties | building				295		295
Area of real estate property | ft²				53,306,568		53,306,568
Percentage of occupancy for leased office and industrial property				98.50%		98.50%
Gramercy Asset Management [Member] | Commercial Lease Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Available for sale securities and other investments				$ 1,200,000		$ 1,200,000
Gramercy Asset Management [Member] | Europe [Member] | Commercial Lease Properties [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Available for sale securities and other investments				$ 871,000		$ 871,000
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 | Property								95
Square Feet | ft²								24,560,739
Individual Acquisitions [Member]
Collaborative Arrangements and Non-collaborative Arrangement Transactions [Line Items]
Number of Acquisitions | Property				16		48
Square Feet | ft²				2,795,476		11,464,734
Purchase price of real estate				$ 237,432		$ 862,341

Significant Accounting Polici40

Significant Accounting Policies (Narrative) (Details)	Dec. 19, 2014USD ($)	Sep. 30, 2016USD ($)Propertyentity	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)Propertyentity	Sep. 30, 2015USD ($)	Aug. 31, 2016	Dec. 31, 2015USD ($)Propertyentity	Dec. 31, 2014
Accounting Policies [Line Items]
Amortization of intangible assets		$ 29,670,000	$ 9,808,000		$ 86,845,000	$ 27,947,000
Amortization of off market lease unfavorable and off market lease favorable		4,578,000	4,309,000		10,388,000	10,359,000
Property management expenses		4,810,000	4,780,000		14,922,000	14,557,000
Goodwill		3,141,000			3,141,000			$ 3,568,000
Investment in unconsolidated equity investments		120,176,000			120,176,000			580,000,000
Restricted cash		$ 171,895,000			$ 171,895,000			$ 17,354,000
Number of consolidated VIEs | entity		3			3			2
Number of unconsolidated variable interest entities | entity		4			4			4
Allowance for doubtful accounts receivable		$ 43,000			$ 43,000			$ 204,000
Incentive fee recognized		$ 2,931,000	111,000		$ 18,121,000	3,082,000
Number of Properties | Property		46			46			41
Foreign currency translation gain (loss)		$ (1,120,000)	(360,000)		$ (3,687,000)	(309,000)
Foreign currency transaction gain (loss), realized		185,000	15,000		104,000	25,000
Servicing rights reimbursements		1,390,000	0		1,390,000	0
Servicing Asset		0			0			$ 1,382,000
Retained collateralized debt obligations (CDOs) bonds, other-than-temporary impairment					0
Total income tax benefit (provision)		$ 331,000	985,000		$ 3,734,000	$ 2,116,000
Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage		13.70%			13.30%	26.40%
Available-for-sale Securities [Member]
Accounting Policies [Line Items]
Retained collateralized debt obligations (CDOs) bonds, other-than-temporary impairment		$ 0	$ 0		$ 0	$ 0
KBS [Member] | Management Fee Income Concentration [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage		82.80%	81.10%		90.50%	84.00%
Bank Of America [Member] | Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage			21.20%
Life Time Fitness [Member] | Sales Revenue, Goods, Net [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage			11.60%
Assets Held-for-sale [Member]
Accounting Policies [Line Items]
Assets held for sale, net | Property		1			1			6
Proportion Foods [Member]
Accounting Policies [Line Items]
Amount committed		$ 24,950,000			$ 24,950,000
Proportion Foods [Member] | Proportion Foods [Member]
Accounting Policies [Line Items]
Percentage of area leased property		100.00%			100.00%
Amount committed		$ 47,460,000			$ 47,460,000
Amount funded		12,849,000			12,849,000
Gramercy Europe Asset Management - European Fund Carry Co [Member]
Accounting Policies [Line Items]
Net assets of nonconsolidated VIEs		$ 37,000			$ 37,000			$ (5,000)
CBRE Strategic Partners Asia [Member]
Accounting Policies [Line Items]
Ownership %		5.07%			5.07%
Number of Properties | Property		2			2			2
Strategic Office Partners [Member]
Accounting Policies [Line Items]
Ownership %		25.00%			25.00%		25.00%
Number of Properties | Property		6			6			0
Gramercy Europe Asset [Member]
Accounting Policies [Line Items]
Ownership %									50.00%
Gramercy Europe Asset [Member] | Management Fee Income Concentration [Member] | Customer Concentration Risk [Member]
Accounting Policies [Line Items]
Concentration risk, percentage		15.90%	10.40%
Gramercy Europe Asset [Member] | United Kingdom [Member]
Accounting Policies [Line Items]
Number of Properties | Property		1			1
Gramercy Europe Asset [Member] | Canada [Member]
Accounting Policies [Line Items]
Number of Properties | Property		2			2
ThreadGreen Europe Limited [Member]
Accounting Policies [Line Items]
Goodwill		$ 3,141,000			$ 3,141,000			$ 3,568,000
Goodwill adjustment				$ 85,000
Foreign currency transaction gain (loss), realized	$ 16,000
ThreadGreen Europe Limited [Member] | Preliminary Allocations [Member]
Accounting Policies [Line Items]
Goodwill	$ 3,887,000
ThreadGreen Europe Limited [Member] | Finalized Allocations [Member]
Accounting Policies [Line Items]
Goodwill				$ 3,802,000
Ground Lease [Member]
Accounting Policies [Line Items]
Property management expenses		$ 8,000	$ (1,000)		$ 25,000	$ (41,000)
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
Accounting Standards Update 2015-03 [Member] | Deferred Costs, net [Member]
Accounting Policies [Line Items]
Deferred finance costs								(6,389,000)
Accounting Standards Update 2015-03 [Member] | Long-term Debt [Member]
Accounting Policies [Line Items]
Deferred finance costs								$ 6,389,000
Asset Management Fee [Member] | Strategic Office Partners [Member]
Accounting Policies [Line Items]
Fee percentage		0.35%
Promoted Interest Fees [Member] | Strategic Office Partners [Member]
Accounting Policies [Line Items]
Fee percentage		5.00%
Internal rate of return benchmark		13.50%

Significant Accounting Polici41

Significant Accounting Policies (Schedule of Intangible Assets and Acquired Lease Obligations) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Intangible assets:
Total intangible assets	$ 584,856	$ 682,174
Finite-lived intangible assets, accumulated amortization	112,588	54,323
Intangible liabilities:
Total intangible liabilities	224,643	242,456
In-place leases [Member]
Intangible assets:
Total intangible assets	514,659	644,540
Finite-lived intangible assets, accumulated amortization	108,993	49,125
Above-market lease assets [Member]
Intangible assets:
Total intangible assets	65,663	94,202
Finite-lived intangible assets, accumulated amortization	14,519	5,051
Below-market ground rent [Member]
Intangible assets:
Total intangible assets	5,141	5,236
Finite-lived intangible assets, accumulated amortization	242	147
Below-market lease liabilities [Member]
Intangible liabilities:
Total intangible liabilities	221,191	255,452
Finite-lived intangible liabilities, accumulated amortization	26,836	16,934
Above-market ground rent [Member]
Intangible liabilities:
Total intangible liabilities	3,452	3,522
Finite-lived intangible liabilities, accumulated amortization	219	149
Assets Held-for-sale [Member]
Intangible assets:
Amounts related to assets held for sale, net of accumulated amortization of $0	(607)	(61,804)
Finite-lived intangible assets, accumulated amortization	0	0
Intangible liabilities:
Amounts related to liabilities of assets held for sale, net of accumulated amortization of $0	0	(16,518)
Finite-lived intangible liabilities, accumulated amortization	$ 0	$ 0

Significant Accounting Polici42

Significant Accounting Policies (Schedule of Finite-Lived Intangible Assets, Future Amortization Expense) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Depreciation and Amortization Expense [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	$ 22,804
2,017	80,438
2,018	72,120
2,019	61,496
2,020	50,429
Rental Revenue [Member]
Finite-Lived Intangible Assets, Amortization Expense And Below Market Leases, Amortized Income
October 1 to December 31, 2016	(419)
2,017	(648)
2,018	(1,675)
2,019	(2,638)
2,020	(4,528)
Rental Expense [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	9
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	10 years 1 month 6 days
In-place leases [Member] | Depreciation and Amortization Expense [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	$ 22,804
2,017	80,438
2,018	72,120
2,019	61,496
2,020	$ 50,429
Above-market lease assets [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	7 years 9 months 18 days
Above-market lease assets [Member] | Rental Revenue [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	$ 3,434
2,017	11,807
2,018	10,653
2,019	9,522
2,020	$ 7,402
Below-market lease liabilities [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	20 years 2 months 12 days
Below-market lease liabilities [Member] | Rental Revenue [Member]
Below Market Lease
October 1 to December 31, 2016	$ (3,853)
2,017	(12,455)
2,018	(12,328)
2,019	(12,160)
2,020	$ (11,930)
Below-market ground rent [Member]
Schedule of Finite Lived Intangible Assets Future Amortization Expense [Line Items]
Weighted-Average Amortization Period	41 years 7 months 6 days
Below-market ground rent [Member] | Rental Expense [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	$ 32
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	36 years 9 months 18 days
Above-market ground rent [Member] | Rental Expense [Member]
Finite-Lived Intangible Assets
October 1 to December 31, 2016	$ (23)
2,017	(94)
2,018	(94)
2,019	(94)
2,020	$ (94)

Significant Accounting Polici43

Significant Accounting Policies (Schedule of Variable Interest Entities) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Retained CDO Bonds [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, unconsolidated	$ 8,439	$ 7,471
Company carrying value - liabilities, unconsolidated	0	0
Face value of assets held by the VIEs, unconsolidated	1,022,686	1,382,373
Face value of liabilities issued by the VIEs, unconsolidated	1,117,564	1,282,583
Operating Partnership [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	5,183,230
Company carrying value - liabilities, consolidated	2,409,055
Face value of assets held by the VIEs, consolidated	5,183,230
Face value of liabilities issued by the VIEs, consolidated	2,409,055
Proportion Foods [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	16,850	7,949
Company carrying value - liabilities, consolidated	4,494	16
Face value of assets held by the VIEs, consolidated	16,850	7,949
Face value of liabilities issued by the VIEs, consolidated	17,343	8,183
Gramercy Europe Asset Management - European Fund Manager [Member]
Variable Interest Entity [Line Items]
Company carrying value-assets, consolidated	1,028	334
Company carrying value - liabilities, consolidated	13	832
Face value of assets held by the VIEs, consolidated	1,028	334
Face value of liabilities issued by the VIEs, consolidated	1,366	832
Company carrying value-assets, unconsolidated	0
Company carrying value - liabilities, unconsolidated	0
Face value of assets held by the VIEs, unconsolidated	37
Face value of liabilities issued by the VIEs, unconsolidated	$ 0
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 Polici44

Significant Accounting Policies (Schedule of Retained Collateralized Debt Obligation Bonds) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)security	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)security	Sep. 30, 2015USD ($)
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | security	9		9
Face Value	$ 382,104		$ 382,104
Amortized Cost	7,888		7,888
Gross Unrealized Gain			551
Other-than-temporary impairment			0
Fair Value	$ 8,439		$ 8,439
Weighted Average Expected Life			1 year 10 months 24 days
Available-for-sale Securities [Member]
Schedule of Trading Securities and Other Trading Assets [Line Items]
Number of Securities | security	9		9
Face Value	$ 382,104		$ 382,104
Amortized Cost	7,888		7,888
Gross Unrealized Gain			551
Other-than-temporary impairment	0	$ 0	0	$ 0
Fair Value	$ 8,439		$ 8,439
Weighted Average Expected Life			1 year 10 months 24 days

Significant Accounting Polici45

Significant Accounting Policies (Other Than Temporary Impairment Credit Losses Recognized in Earnings) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Other than Temporary Impairment, Credit Losses Recognized in Earnings [Roll Forward]
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	(841)	(3,622)
Ending Balance	$ 2,355	$ 3,196

Dispositions, Assets Held for46

Dispositions, Assets Held for Sale, and Discontinued Operations (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2016USD ($)ft²Property	Sep. 30, 2015USD ($)Property	Sep. 30, 2016USD ($)ft²Property	Sep. 30, 2015USD ($)Property	Dec. 31, 2015ft²Property	Aug. 31, 2016	Dec. 17, 2015Property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold | Property	10	2	20	5
Proceeds from sale of property held-for-sale	$ 394,241		$ 1,041,941
Area of real estate properties sold | ft²	2,435,130
Impairment charge			1,053
Net gains on disposals	$ 2,336	$ 392	$ 2,336	$ 593
Number of Acquisitions | Property			48		144
Gain on disposal		392		742
Write down due to impairment		0		149
Non-cash impairment charges	$ 1,053	0	$ 1,053	$ 0
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 | Property			5
Number of properties held-for-sale | Property	1		1		6		6
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 | Property			16	3
Proceeds from sale of property held-for-sale			$ 617,873	$ 8,619
Purchase price of real estate			$ 460,191	$ 8,619
Number of Acquisitions | Property			36	2
Chambers Street Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of Acquisitions | Property					95
Chambers Street Properties [Member] | Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold | Property			5
Proceeds from sale of property held-for-sale			$ 386,000
Strategic Office Partners [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Ownership %	25.00%		25.00%			25.00%
Bank of America Portfolio [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from sale of property held-for-sale		$ 70,100		$ 78,719
Strategic Office Partners [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold | Property	6
Area of real estate properties sold | ft²	980,825
Proceeds from sale of real estate	$ 187,500
Office [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Area of real estate property | ft²	5,070,129		5,070,129		336,000

Dispositions, Assets Held for47

Dispositions, Assets Held for Sale, and Discontinued Operations (Summary of Assets and Liabilities Held-for-sale) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Assets held for sale
Total assets	$ 11,009	$ 420,485
Liabilities related to assets held for sale
Total liabilities	129	291,364
Assets Held-for-sale [Member]
Assets held for sale
Real estate investments	9,950	348,582
Acquired lease assets	607	61,804
Other assets	452	10,099
Total assets	11,009	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	129	14,142
Total liabilities	129	291,364
Net assets held for sale	$ 10,880	$ 129,121

Dispositions, Assets Held for48

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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Operating Results:
Interest expense	$ (18,409)	$ (9,227)	$ (57,271)	$ (23,225)
Gain on extinguishment of debt	0	0	1,930	0
Income (loss) from discontinued operations	347	(41)	5,045	17
Discontinued Operations [Member]
Operating Results:
Revenues	262	19	6,258	(10)
Operating expenses	(58)	(46)	(2,293)	202
General and administrative expense	(3)	(14)	(41)	(175)
Interest expense	148	0	(807)	0
Depreciation and amortization	(2)	0	(2)	0
Gain on extinguishment of debt	0	0	1,930	0
Income (loss) from discontinued operations	$ 347	$ (41)	$ 5,045	$ 17

Dispositions, Assets Held for49

Dispositions, Assets Held for Sale, and Discontinued Operations (Schedule of Significant Operating and Investing Noncash Items) (Details) - Discontinued Operations [Member] - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Amortization expense	$ 2	$ 0
Significant operating noncash items	(9,647)	0
Total	$ (9,645)	$ 0

Real Estate Investments (Narrat

Real Estate Investments (Narrative) (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2016ft²Property	Dec. 19, 2014USD ($)shares	Sep. 30, 2016USD ($)ft²Property$ / shares	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²Property$ / shares	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)ft²Property$ / shares	Dec. 17, 2015USD ($)$ / sharesshares
Business Acquisition [Line Items]
Number of Properties | Property						48		144
Square Feet | ft²						11,464,734		33,800,146
Purchase Price						$ 862,341		$ 3,726,563
Real estate properties			$ 4,103,332			4,103,332		$ 3,931,677
Total revenues			131,092	$ 65,213		391,062	$ 167,295
Net income (loss)			$ (949)	1,990		$ 27,031	1,729
Common stock, par value (in usd per share) | $ / shares			$ 0.01			$ 0.01		$ 0.01	$ 0.01
Adjustment to rental revenue			$ 106			$ 106
Adjustment to depreciation and amortization			(75)			(75)
Goodwill			3,141			3,141		$ 3,568
Foreign currency transaction loss, realized			$ 185	15		104	25
Chambers Street Properties [Member]
Business Acquisition [Line Items]
Number of Properties | Property								95
Square Feet | ft²								24,560,739
Shares issued to shareholders in acquisition (in shares) | shares									3.1898
Consideration transferred				1,829,241			1,829,241		$ 1,829,241
Adjustment increase (decrease) to assets						864
Adjustment increase (decrease) to liabilities						$ 864
Total assets				3,326,067			3,326,067
Total liabilities				1,496,826			1,496,826
Individual Acquisitions [Member]
Business Acquisition [Line Items]
Number of Properties | Property			16			48
Square Feet | ft²			2,795,476			11,464,734
Total revenues			$ 1,835	1,335		$ 21,054	38,055
Net income (loss)			706	543		$ 6,628	10,802
2016 Acquisitions Analyzed [Member]
Business Acquisition [Line Items]
Number of Properties | Property						26
2015 Acquisitions Analyzed [Member]
Business Acquisition [Line Items]
Number of Properties | Property								1
ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Adjustment increase (decrease) to assets				190
Adjustment increase (decrease) 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			$ 3,141			$ 3,141		$ 3,568
Foreign currency transaction loss, realized		16
Goodwill adjustment					$ 85
Adjustment to net income				(80)
Preliminary Allocations [Member] | 2016 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Number of Properties | Property						34
Preliminary Allocations [Member] | 2015 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Number of Properties | Property								136
Preliminary Allocations [Member] | ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Total assets		902
Total liabilities		398
Goodwill		$ 3,887
Finalized Allocations [Member] | 2016 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Adjustment to rental revenue						$ 30
Adjustment to depreciation and amortization						$ (7)
Finalized Allocations [Member] | 2015 Acquisitions Finalized [Member]
Business Acquisition [Line Items]
Adjustment to rental revenue								$ (2,307)
Adjustment to depreciation and amortization								$ (205)
Finalized Allocations [Member] | ThreadGreen Europe Limited [Member]
Business Acquisition [Line Items]
Total assets				1,092			1,092
Total liabilities				$ 503			$ 503
Goodwill					$ 3,802
Old Gramercy Stock [Member]
Business Acquisition [Line Items]
Common stock, par value (in usd per share) | $ / shares			$ 0.001			$ 0.001
Share price (in usd per share) | $ / shares									$ 24.63
Duke Joint Venture [Member]
Business Acquisition [Line Items]
Number of Properties | Property	7					7
Square Feet | ft²	4,189,630					4,189,630
Purchase Price						$ 276,100
Ownership %			80.00%			80.00%
Percentage of fair value of properties			100.00%			100.00%
Real estate properties			$ 276,100			$ 276,100
Build-to-suit Property [Member] | Chambers Street Properties [Member]
Business Acquisition [Line Items]
Square Feet | ft²								200,411
Build-to-suit Property [Member] | Duke Joint Venture [Member]
Business Acquisition [Line Items]
Square Feet | ft²						240,800

Real Estate Investments (Proper

Real Estate Investments (Property Purchase Price Allocation) (Details) $ in Thousands	3 Months Ended	9 Months Ended	12 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)Property	Dec. 31, 2015USD ($)Property	Sep. 30, 2015USD ($)
Real Estate Properties [Line Items]
Number of Acquisitions | Property		48	144
Increase (Decrease) to Rental Revenue	$ (106)	$ (106)
Increase to Depreciation and Amortization Expense	(75)	$ (75)
2016 Acquisitions Analyzed [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property		26
Real Estate Assets	420,685	$ 420,685
Intangible Assets	62,425	62,425
Below-market lease liabilities	11,648	$ 11,648
2015 Acquisitions Analyzed [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property			1
Real Estate Assets			$ 7,947
Intangible Assets			0
Below-market lease liabilities			$ 0
Chambers Street Properties [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property			95
Real Estate Assets				$ 1,886,786
Below-market lease liabilities				$ 41,130
Wholly Owned Properties [Member] | Bank Of America [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property			67
Preliminary Allocations [Member] | 2016 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property		34
Real Estate Assets	701,513	$ 701,513
Intangible Assets	6,049	6,049
Below-market lease liabilities	1,037	1,037
Preliminary Allocations [Member] | 2015 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Number of Acquisitions | Property			136
Real Estate Assets			$ 1,373,360
Intangible Assets			320,066
Below-market lease liabilities			81,961
Finalized Allocations [Member] | 2016 Acquisitions Finalized [Member]
Real Estate Properties [Line Items]
Real Estate Assets	665,748	665,748
Intangible Assets	48,499	48,499
Below-market lease liabilities	$ 7,722	7,722
Increase (Decrease) to Rental Revenue		(30)
Increase to Depreciation and Amortization Expense		$ (7)
Finalized Allocations [Member] | 2015 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 to Depreciation and Amortization Expense			$ (205)

Real Estate Investments (Pro Fo

Real Estate Investments (Pro Forma Information) (Details) $ / shares in Units, $ in Thousands	Jun. 30, 2016Property	Sep. 30, 2016USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Sep. 30, 2016USD ($)Property$ / sharesshares	Sep. 30, 2015USD ($)$ / sharesshares	Dec. 31, 2015Property	Aug. 31, 2016	Jun. 29, 2016
Real Estate [Abstract]
Pro forma revenues | $		$ 126,644	$ 121,652	$ 378,674	$ 363,337
Pro forma net income available to common stockholders | $		$ (5,643)	$ 13,157	$ 16,729	$ 41,706
Pro forma earnings per common share-basic (in usd per share) | $ / shares		$ (0.01)	$ 0.07	$ 0.04	$ 0.25
Pro forma earnings per common share-diluted (in usd per share) | $ / shares		$ (0.01)	$ 0.07	$ 0.04	$ 0.24
Pro forma common shares-basic (in shares) | shares		420,772,508	183,945,495	423,542,467	169,781,590
Pro forma common share-diluted (in shares) | shares		420,772,508	187,683,631	427,163,126	175,551,239
Schedule of Equity Method Investments [Line Items]
Number of Properties | Property				48		144
Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %		5.10%		5.10%				80.00%
Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %		80.00%		80.00%
Ownership percentage transferred	100.00%
Number of Properties | Property	7			7
Strategic Office Partners [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %		25.00%		25.00%			25.00%

Real Estate Investments (Summar

Real Estate Investments (Summary of Acquired Assets and Liabilities) (Details) - Chambers Street Properties [Member] - USD ($) $ in Thousands	Dec. 17, 2015	Sep. 30, 2015
Assets
Land		$ 258,451
Buildings and improvements		1,628,335
Net investments		1,886,786
Cash and cash equivalents		24,687
Restricted cash		8,990
Unconsolidated equity investments		563,888
Tenant and other receivables, net		11,166
Acquired lease assets		411,361
Deferred costs and other assets		5,002
Assets held for sale		414,187
Total assets		3,326,067
Liabilities
Mortgage notes payable		860,000
Revolving credit facilities and term loans		220,429
Below-market lease liabilities		41,130
Accounts payable, accrued expenses, and other liabilities		82,773
Liabilities related to assets held for sale		292,494
Total liabilities		1,496,826
Fair value of net assets acquired	$ 1,829,241	$ 1,829,241

Unconsolidated Equity Investm54

Unconsolidated Equity Investments (Narrative) (Details) € in Thousands	Jun. 30, 2016USD ($)Property	Jun. 30, 2016EUR (€)Property	May 31, 2016USD ($)	May 31, 2016EUR (€)	Oct. 08, 2015USD ($)	Aug. 31, 2016USD ($)Property	Jul. 31, 2016USD ($)	Mar. 31, 2016	Sep. 30, 2016USD ($)ft²Propertyentityextension	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²Propertyentityextension	Sep. 30, 2016EUR (€)Property	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property	Dec. 31, 2015EUR (€)Property	Jun. 29, 2016	Dec. 31, 2014USD ($)	Dec. 31, 2014EUR (€)
Investments in and Advances to Affiliates [Line Items]
Proceeds from sale of investment											$ 84,588,000		$ 0
Number of Properties | Property									46		46			41
Contributions to unconsolidated equity investments(1)											$ 76,856,000
Number of Properties | Property											48	48		144	144
Distributions received from unconsolidated equity investments											$ 48,235,000		309,000
Gain on sale of investment											(3,737,000)
Real estate properties									$ 4,103,332,000		4,103,332,000			$ 3,931,677,000
Investment in unconsolidated equity investment									$ 120,176,000		$ 120,176,000			$ 580,000,000
Area of real estate properties sold | ft²									2,435,130
Gramercy Europe Committed [Member]
Investments in and Advances to Affiliates [Line Items]
Initial equity capital available																	$ 395,213,000	€ 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									$ 40,130,000		$ 40,130,000
Distribution received from joint venture									$ 0	$ 103,000	$ 0		$ 309,000
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]
Ownership %									14.20%		14.20%
Number of Properties | Property									24		24			12
Contributions to unconsolidated equity investments(1)											$ 55,892,000	€ 50,000		$ 25,663,000	€ 23,160
Number of Properties | Property											12	12		12	12
Investment in unconsolidated equity investment									$ 52,611,000		$ 52,611,000			$ 23,381,000
Voting Interest %									14.20%		14.20%
Duke Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %									80.00%		80.00%
Number of Properties | Property									0		0			13
Number of Properties | Property	7	7									7	7
Distributions received from unconsolidated equity investments							$ 41,060,000		$ 0		$ 53,807,000
Gain on sale of investment	$ 7,229,000
Real estate properties									276,100,000		276,100,000
Investment in unconsolidated equity investment									$ 0		$ 0			$ 352,932,000
Voting Interest %									50.00%		50.00%
Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %						25.00%			25.00%		25.00%
Number of Properties | Property									6		6			0
Distribution received from joint venture						$ 30,581,000
Distributions received from unconsolidated equity investments									$ 30,581,000
Number of properties contributed | Property						6
Real estate properties						$ 187,500,000
Investment in unconsolidated equity investment						$ 16,027,000			15,737,000		$ 15,737,000			$ 0
Commitment amount									400,000,000		$ 400,000,000
Payments to joint venture									$ 46,608,000
Voting Interest %									25.00%		25.00%
Strategic Office Partners [Member] | Parent Company [Member]
Investments in and Advances to Affiliates [Line Items]
Commitment amount									$ 100,000,000		$ 100,000,000
Goodman UK JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %									80.00%		80.00%
Number of Properties | Property									3		3			3
Distributions received from unconsolidated equity investments									$ 0
Investment in unconsolidated equity investment									$ 35,525,000		$ 35,525,000			$ 36,698,000
Voting Interest %									50.00%		50.00%
Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Proceeds from sale of investment	148,884,000	€ 134,336
Ownership %									5.10%		5.10%					80.00%
Number of Properties | Property									9		9			9
Distributions received from unconsolidated equity investments									$ 0		$ 7,375,000
Gain on sale of investment	5,341,000
Investment in unconsolidated equity investment									$ 9,126,000		$ 9,126,000			$ 158,863,000
Voting Interest %									5.10%		5.10%
Direct Goodman Europe Joint Venture and Indirect Goodman Joint Venture Ownership Interests [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %									18.60%		18.60%
CBRE Strategic Partners Asia [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %									5.07%		5.07%
Number of Properties | Property									2		2			2
Investment in unconsolidated equity investment									$ 4,557,000		$ 4,557,000			$ 5,508,000
Term of agreement											8 years	8 years
Number of extensions | extension									2		2
Term of extensions								1 year			1 year	1 year
Voting Interest %									5.10%		5.10%
Morristown [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %					50.00%				50.00%		50.00%
Number of Properties | Property									1		1			1
Proceeds from sale of real estate					$ 2,600,000
Investment in unconsolidated equity investment									$ 2,620,000		$ 2,620,000			$ 2,618,000
Voting Interest %					50.00%				50.00%		50.00%
Chambers Street Properties [Member]
Investments in and Advances to Affiliates [Line Items]
Number of unconsolidated entities | entity									4		4
Number of Properties | Property														95	95
Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Proceeds from sale of real estate									$ 187,500,000
Area of real estate properties sold | ft²									980,825
Duke Realty [Member]
Investments in and Advances to Affiliates [Line Items]
Distributions received from unconsolidated equity investments	$ 2,760,000
Gramercy European Property Fund [Member] | Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership percentage acquired	74.90%	74.90%	20.00%	20.00%
Proceeds from sale of investment			$ 47,633,000	€ 42,766
Ownership %									94.90%		94.90%
TPG Real Estate [Member] | Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %						75.00%
Gain on sale of investment						$ 2,336,000
Real estate properties						140,625,000
Investment in unconsolidated equity investment						$ 46,608,000
Germany and France [Member] | Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Number of Properties | Property									9		9

Unconsolidated Equity Investm55

Unconsolidated Equity Investments (Summary of Unconsolidated Equity Investments) (Details) $ in Thousands	Sep. 30, 2016USD ($)Property	Aug. 31, 2016USD ($)	Jun. 29, 2016	Dec. 31, 2015USD ($)Property	Oct. 08, 2015
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated equity investment	$ 120,176			$ 580,000
Number of Properties | Property	46			41
Gramercy European Property Fund [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Voting Interest %	14.20%
Investment in unconsolidated equity investment	$ 52,611			$ 23,381
Number of Properties | Property	24			12
Philips JV [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	$ 0			$ 352,932
Number of Properties | Property	0			13
Basis difference				$ 136,198
Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	5.10%		80.00%
Voting Interest %	5.10%
Investment in unconsolidated equity investment	$ 9,126			$ 158,863
Number of Properties | Property	9			9
Basis difference	$ 2,603			$ 37,371
Goodman UK JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Voting Interest %	50.00%
Investment in unconsolidated equity investment	$ 35,525			$ 36,698
Number of Properties | Property	3			3
Basis difference	$ 6,607			$ 6,578
CBRE Strategic Partners Asia [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	5.07%
Voting Interest %	5.10%
Investment in unconsolidated equity investment	$ 4,557			$ 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	$ 2,620			$ 2,618
Number of Properties | Property	1			1
Strategic Office Partners [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%	25.00%
Voting Interest %	25.00%
Investment in unconsolidated equity investment	$ 15,737	$ 16,027		$ 0
Number of Properties | Property	6			0
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	$ 9			$ 0
Gramercy European Property Fund [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	94.90%

Unconsolidated Equity Investm56

Unconsolidated Equity Investments (Rollforward of Unconsolidated Equity Investments) (Details) $ in Thousands	Jun. 30, 2016USD ($)Property	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Beginning balance				$ 580,000
Contributions to unconsolidated equity investments(1)				76,856
Equity in net loss of unconsolidated equity investments		$ (1,138)	$ (1,096)	(4,061)	$ (974)
Other comprehensive loss of unconsolidated equity investments				(1,086)
Distributions from unconsolidated equity investments				(395,838)
Purchase price allocation adjustments				5,000
Gains on sale and dissolution of unconsolidated equity investment interests				12,570
Sale of unconsolidated equity investment interests				(148,884)
Receivable from dissolution of joint venture				(644)
Reclassification of accumulated foreign currency translation adjustments due to disposal				(3,737)
Ending balance		120,176		$ 120,176		$ 580,000
Schedule of Equity Method Investments [Line Items]
Number of Properties | Property				48		144
Purchase Price				$ 862,341		$ 3,726,563
Duke Joint Venture [Member]
SEC Schedule III, Reconciliation of Carrying Amount of Real Estate Investments [Roll Forward]
Beginning balance				352,932
Reclassification of accumulated foreign currency translation adjustments due to disposal	$ 7,229
Ending balance		$ 0		$ 0		$ 352,932
Schedule of Equity Method Investments [Line Items]
Number of Properties | Property	7			7
Purchase Price				$ 276,100

Unconsolidated Equity Investm57

Unconsolidated Equity Investments (Combined Balance Sheets for the Company's Joint Ventures) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Aug. 31, 2016	Jun. 29, 2016	Dec. 31, 2015
Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	5.10%		80.00%
Goodman Europe JV [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net				$ 276,925
Other assets				42,139
Total assets				319,064
Liabilities and members’ equity:
Mortgages payable				121,350
Other liabilities				8,622
Total liabilities				129,972
Gramercy Property Trust equity				158,863
Other members’ equity				30,229
Liabilities and members’ equity				319,064
Gramercy European Property Fund (excluding legacy Goodman Europe Joint Venture) [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net				236,312
Other assets				39,983
Total assets				276,295
Liabilities and members’ equity:
Mortgages payable				143,616
Other liabilities				14,581
Total liabilities				158,197
Gramercy Property Trust equity				23,385
Other members’ equity				94,713
Liabilities and members’ equity				276,295
Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	14.20%
Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	25.00%	25.00%
Strategic Office Partners [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	$ 155,783
Other assets	34,590
Total assets	190,373
Liabilities and members’ equity:
Mortgages payable	121,608
Other liabilities	3,738
Total liabilities	125,346
Gramercy Property Trust equity	15,737
Other members’ equity	49,290
Liabilities and members’ equity	$ 190,373
Goodman UK JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	80.00%
Goodman UK JV [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	$ 37,716			42,584
Other assets	4,433			3,427
Total assets	42,149			46,011
Liabilities and members’ equity:
Mortgages payable	0			0
Other liabilities	(606)			1,783
Total liabilities	(606)			1,783
Gramercy Property Trust equity	35,525			36,698
Other members’ equity	7,230			7,530
Liabilities and members’ equity	$ 42,149			46,011
Duke JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	80.00%
Duke JV [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net				443,313
Other assets				32,739
Total assets				476,052
Liabilities and members’ equity:
Mortgages payable				56,105
Other liabilities				6,035
Total liabilities				62,140
Gramercy Property Trust equity				352,932
Other members’ equity				60,980
Liabilities and members’ equity				476,052
CBRE Strategic Partners Asia [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	5.07%
CBRE Strategic Partners Asia [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	$ 95,477			109,554
Other assets	12,086			9,337
Total assets	107,563			118,891
Liabilities and members’ equity:
Mortgages payable	0			0
Other liabilities	13,782			13,948
Total liabilities	13,782			13,948
Gramercy Property Trust equity	4,557			5,508
Other members’ equity	89,224			99,435
Liabilities and members’ equity	107,563			118,891
Other [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	49,860			50,698
Other assets	3,397			15,954
Total assets	53,257			66,652
Liabilities and members’ equity:
Mortgages payable	40,130			40,424
Other liabilities	3,448			16,540
Total liabilities	43,578			56,964
Gramercy Property Trust equity	2,629			2,614
Other members’ equity	7,050			7,074
Liabilities and members’ equity	53,257			$ 66,652
Europe [Member] | Goodman Europe JV [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	307,398
Other assets	40,389
Total assets	347,787
Liabilities and members’ equity:
Mortgages payable	135,716
Other liabilities	8,758
Total liabilities	144,474
Gramercy Property Trust equity	33,282
Other members’ equity	170,031
Liabilities and members’ equity	347,787
Europe [Member] | Gramercy European Property Fund (excluding legacy Goodman Europe Joint Venture) [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	359,246
Other assets	59,942
Total assets	419,188
Liabilities and members’ equity:
Mortgages payable	206,778
Other liabilities	25,853
Total liabilities	232,631
Gramercy Property Trust equity	28,446
Other members’ equity	158,111
Liabilities and members’ equity	419,188
Europe [Member] | Gramercy European Property Fund [Member] | Corporate Joint Venture [Member]
Assets:
Real estate assets, net	666,644
Other assets	100,331
Total assets	766,975
Liabilities and members’ equity:
Mortgages payable	342,494
Other liabilities	34,611
Total liabilities	377,105
Gramercy Property Trust equity	61,728
Other members’ equity	328,142
Liabilities and members’ equity	$ 766,975
Gramercy European Property Fund [Member] | Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	94.90%

Unconsolidated Equity Investm58

Unconsolidated Equity Investments (Real Estate Assets Subject to Mortgages) (Details) $ in Thousands	Sep. 30, 2016USD ($)Property	Aug. 31, 2016	Jun. 29, 2016	Dec. 31, 2015USD ($)	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Percentage of face amount of debt presented	100.00%
Outstanding Balance	$ 497,428			$ 361,495
Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %					50.00%
Strategic Office Partners [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%	25.00%
Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	5.10%		80.00%
Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Durrholz [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.52%
Outstanding Balance	$ 13,128			12,937
Oud-Beijerland [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	2.06%
Outstanding Balance	$ 8,663			8,463
Zaandam [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	2.05%
Outstanding Balance	$ 12,492			12,203
Kerkrade [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	2.05%
Outstanding Balance	$ 10,320			10,081
Friedrichspark [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	2.05%
Outstanding Balance	$ 9,325			9,109
Fredersdorf [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	2.05%
Outstanding Balance	$ 12,063			11,783
Breda [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.87%
Outstanding Balance	$ 10,668			7,796
Juechen [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.86%
Outstanding Balance	$ 20,220			19,750
Piaseczno [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.95%
Outstanding Balance	$ 8,731			8,522
Strykow [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.95%
Outstanding Balance	$ 20,558			20,063
Venray [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	3.32%
Outstanding Balance	$ 13,938			13,578
Uden [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.95%
Outstanding Balance	$ 9,560			9,331
Rotterdam [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.86%
Outstanding Balance	$ 8,180			0
Kutno [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.91%
Outstanding Balance	$ 6,292			0
Frechen [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.46%
Outstanding Balance	$ 6,476			0
Netherlands Portfolio [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	3.02%
Outstanding Balance	$ 14,325			0
Meerane [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	1.32%
Outstanding Balance	$ 10,864			0
Graben [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties pledged under debt | Property	2
Graben [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	18.60%
Interest Rate	2.39%
Outstanding Balance	$ 34,941			33,781
Koblenz [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties pledged under debt | Property	5
Koblenz [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	18.60%
Interest Rate	2.27%
Outstanding Balance	$ 35,671			34,486
Bremen [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	18.60%
Interest Rate	3.01%
Outstanding Balance	$ 13,257			12,817
Bodenheim [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	18.60%
Interest Rate	3.01%
Outstanding Balance	$ 12,718			12,296
Lille [Member] | Goodman Europe JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	18.60%
Interest Rate	3.13%
Outstanding Balance	$ 28,930			27,970
Carlisle [Member] | Gramercy Europe Asset [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	14.20%
Interest Rate	3.32%
Outstanding Balance	$ 10,978			0
Strategic Office Partners Portfolio [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties pledged under debt | Property	6
Strategic Office Partners Portfolio [Member] | Strategic Office Partners [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%
Interest Rate	3.60%
Outstanding Balance	$ 125,000			0
Somerset [Member] | Phillips JV [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	25.00%
Interest Rate	6.90%
Outstanding Balance	$ 40,130			40,424
Lake Forest [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Outstanding Balance	$ 0			8,823
Tampa [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Outstanding Balance	$ 0			4,231
Fort Lauderdale [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties pledged under debt | Property	4
Fort Lauderdale [Member] | Duke Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	80.00%
Outstanding Balance	$ 0			$ 43,051

Unconsolidated Equity Investm59

Unconsolidated Equity Investments (Combined Income Statement for the Company's Joint Ventures) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Aug. 31, 2016	Jun. 29, 2016
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	$ (1,138)	$ (1,096)	$ (4,061)	$ (974)
Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	14.20%		14.20%
Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	5.10%		5.10%			80.00%
Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	25.00%		25.00%		25.00%
Goodman UK JV [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	80.00%		80.00%
Duke Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	80.00%		80.00%
CBRE Strategic Partners Asia [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	5.07%		5.07%
Direct Goodman Europe Joint Venture and Indirect Goodman Joint Venture Ownership Interests [Member]
Investments in and Advances to Affiliates [Line Items]
Ownership %	18.60%		18.60%
Corporate Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues		1,975		4,249
Operating expenses		375		903
Acquisition expenses		5,289		5,289
Interest expense		700		1,795
Depreciation and amortization		820		1,658
Total expenses		7,184		9,645
Net income (loss) from operations		(5,209)		(5,396)
Loss on derivatives		(591)		(591)
Loss on extinguishment of debt				0
Net gains on disposals		0		0
Provision for taxes		(178)		(178)
Net income (loss)		(5,978)		(6,165)
Company’s share in net income (loss)		(1,096)		(974)
Basis adjustments		0		0
Corporate Joint Venture [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations		$ (1,096)		$ (974)
Corporate Joint Venture [Member] | Strategic Office Partners [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	$ 1,291		$ 1,291
Operating expenses	280		280
Acquisition expenses	664		664
Interest expense	410		410
Depreciation and amortization	898		898
Total expenses	2,252		2,252
Net income (loss) from operations	(961)		(961)
Loss on derivatives	(129)		(129)
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	0		0
Net income (loss)	(1,090)		(1,090)
Company’s share in net income (loss)	(273)		(273)
Basis adjustments	0		0
Corporate Joint Venture [Member] | Strategic Office Partners [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	(273)		(273)
Corporate Joint Venture [Member] | Goodman UK JV [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	557		5,477
Operating expenses	225		698
Acquisition expenses	0		0
Interest expense	0		0
Depreciation and amortization	339		1,461
Total expenses	564		2,159
Net income (loss) from operations	(7)		3,318
Loss on derivatives	0		0
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	0		0
Net income (loss)	(7)		3,318
Company’s share in net income (loss)	(6)		2,655
Basis adjustments	(183)		(461)
Corporate Joint Venture [Member] | Goodman UK JV [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	(189)		2,194
Corporate Joint Venture [Member] | Duke Joint Venture [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	417		19,812
Operating expenses	191		5,309
Acquisition expenses	0		0
Interest expense	0		602
Depreciation and amortization	0		7,154
Total expenses	191		13,065
Net income (loss) from operations	226		6,747
Loss on derivatives	0		0
Loss on extinguishment of debt			(7,962)
Net gains on disposals	28,170		66,705
Provision for taxes	0		0
Net income (loss)	28,396		65,490
Company’s share in net income (loss)	20,749		50,424
Basis adjustments	(20,897)		(54,390)
Corporate Joint Venture [Member] | Duke Joint Venture [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	(148)		(3,966)
Corporate Joint Venture [Member] | CBRE Strategic Partners Asia [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	(11,557)		(11,315)
Operating expenses	341		1,208
Acquisition expenses	0		0
Interest expense	0		0
Depreciation and amortization	0		0
Total expenses	341		1,208
Net income (loss) from operations	(11,898)		(12,523)
Loss on derivatives	0		0
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	0		0
Net income (loss)	(11,898)		(12,523)
Company’s share in net income (loss)	(605)		(641)
Basis adjustments	0		0
Corporate Joint Venture [Member] | CBRE Strategic Partners Asia [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	(605)		(641)
Corporate Joint Venture [Member] | Other [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	1,080		3,245
Operating expenses	129		342
Acquisition expenses	0		27
Interest expense	698		2,131
Depreciation and amortization	333		998
Total expenses	1,160		3,498
Net income (loss) from operations	(80)		(253)
Loss on derivatives	0		0
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	0		0
Net income (loss)	(80)		(253)
Company’s share in net income (loss)	(4)		0
Basis adjustments	0		0
Corporate Joint Venture [Member] | Other [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	(4)		0
Europe [Member] | Corporate Joint Venture [Member] | Gramercy European Property Fund [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	13,524		36,659
Operating expenses	2,295		5,560
Acquisition expenses	2,141		9,638
Interest expense	1,791		5,551
Depreciation and amortization	6,076		15,539
Total expenses	12,303		36,288
Net income (loss) from operations	1,221		371
Loss on derivatives	(1,124)		(6,428)
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	(284)		(876)
Net income (loss)	(187)		(6,933)
Company’s share in net income (loss)	70		(1,830)
Basis adjustments	11		455
Europe [Member] | Corporate Joint Venture [Member] | Gramercy European Property Fund [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	81		(1,375)
Europe [Member] | Corporate Joint Venture [Member] | Goodman Europe JV [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	6,195		18,389
Operating expenses	676		2,372
Acquisition expenses	0		4,960
Interest expense	653		2,519
Depreciation and amortization	3,276		7,907
Total expenses	4,605		17,758
Net income (loss) from operations	1,590		631
Loss on derivatives	0		0
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	0		0
Net income (loss)	1,590		631
Company’s share in net income (loss)	322		(444)
Basis adjustments	11		455
Europe [Member] | Corporate Joint Venture [Member] | Goodman Europe JV [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	333		11
Europe [Member] | Corporate Joint Venture [Member] | Gramercy European Property Fund (excluding legacy Goodman Europe Joint Venture) [Member]
Investments in and Advances to Affiliates [Line Items]
Revenues	7,329		18,270
Operating expenses	1,619		3,188
Acquisition expenses	2,141		4,678
Interest expense	1,138		3,032
Depreciation and amortization	2,800		7,632
Total expenses	7,698		18,530
Net income (loss) from operations	(369)		(260)
Loss on derivatives	(1,124)		(6,428)
Loss on extinguishment of debt			0
Net gains on disposals	0		0
Provision for taxes	(284)		(876)
Net income (loss)	(1,777)		(7,564)
Company’s share in net income (loss)	(252)		(1,386)
Basis adjustments	0		0
Europe [Member] | Corporate Joint Venture [Member] | Gramercy European Property Fund (excluding legacy Goodman Europe Joint Venture) [Member] | Continuing Operations [Member]
Investments in and Advances to Affiliates [Line Items]
Company’s equity in net income (loss) within continuing operations	$ (252)		$ (1,386)

Debt Obligations (Secured Debt)

Debt Obligations (Secured Debt) (Narrative) (Details)	Jun. 30, 2016Property	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property
Debt Instrument [Line Items]
Number of mortgages assumed in acquisition | Property				11
Number of real estate properties in which secured debt repaid | Property		14		22
Number of Properties | Property				48		144
Loss on extinguishment of debt | $		$ (13,777,000)	$ 0	$ (20,890,000)	$ 0
Gain on extinguishment of debt | $		0	$ 0	1,930,000	$ 0
Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt | $						$ 618,169,000
Number of Properties | Property						42
2016 Acquisitions [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt | $		45,958,000		45,958,000
Prior Period Real Estate Acquisition [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt | $		9,550,000		9,550,000
Chambers Street Properties [Member]
Debt Instrument [Line Items]
Number of Properties | Property						95
Chambers Street Properties [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt | $						$ 464,292,000
Number of Properties | Property						29
Duke Joint Venture [Member]
Debt Instrument [Line Items]
Extinguishment of debt | $				$ 12,931,000
Number of real estate properties in which secured debt repaid | Property				2
Number of Properties | Property	7			7
Mortgages [Member]
Debt Instrument [Line Items]
Extinguishment of debt | $		$ 124,605,000
Number of real estate properties in which debt was released | Property		11
Treasury Securities [Member]
Debt Instrument [Line Items]
Treasury securities | $		$ 144,063,000		$ 144,063,000

Debt Obligations (Schedule of M

Debt Obligations (Schedule of Mortgage Notes Payable) (Details) $ in Thousands	Sep. 30, 2016USD ($)PropertySecurityLoan	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Outstanding Balance	$ 497,428	$ 361,495
Total mortgage notes payable, net	$ 2,271,393
Number of loans cross collateralized by properties | SecurityLoan	5
KIK Canada Portfolio [Member]
Debt Instrument [Line Items]
Number of properties under one mortgage loan | Property	2
CCC Portfolio [Member]
Debt Instrument [Line Items]
Number of properties under one mortgage loan | Property	5
KIK USA Portfolio [Member]
Debt Instrument [Line Items]
Number of properties under one mortgage loan | Property	3
Dividend Capital Portfolio [Member]
Debt Instrument [Line Items]
Number of properties under one mortgage loan | Property	11
Mortgage Notes Payable [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 361,201	770,293
Plus net deferred financing costs and debt premium (discount)	7,185	20,633
Total mortgage notes payable, net	368,386	790,926
Total mortgage notes payable, net on assets held for sale	0	(260,704)
Total mortgage notes payable, net	$ 368,386	530,222
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Buford [Member]
Debt Instrument [Line Items]
Interest Rate	7.46%
Outstanding Balance	$ 15,625	15,947
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Dallas [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 9,594	9,754
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Cincinnati [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,666	6,777
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Jacksonville [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,891	7,006
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Phoenix [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 4,144	4,213
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Minneapolis [Member]
Debt Instrument [Line Items]
Interest Rate	4.45%
Outstanding Balance	$ 6,036	6,136
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Ames [Member]
Debt Instrument [Line Items]
Interest Rate	5.53%
Outstanding Balance	$ 16,556	16,900
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Greenwood [Member]
Debt Instrument [Line Items]
Interest Rate	3.28%
Outstanding Balance	$ 7,480	7,610
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Greenfield [Member]
Debt Instrument [Line Items]
Interest Rate	3.28%
Outstanding Balance	$ 6,045	6,150
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Philadelphia [Member]
Debt Instrument [Line Items]
Interest Rate	4.28%
Outstanding Balance	$ 12,423	12,696
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Bridgeview [Member]
Debt Instrument [Line Items]
Interest Rate	7.40%
Outstanding Balance	$ 6,056	0
Continuing Operations [Member] | Mortgage Notes Payable [Member] | KIK Canada Portfolio [Member]
Debt Instrument [Line Items]
Interest Rate	3.58%
Outstanding Balance	$ 8,186	0
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Spartanburg [Member]
Debt Instrument [Line Items]
Interest Rate	5.42%
Outstanding Balance	$ 1,120	1,398
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charleston [Member]
Debt Instrument [Line Items]
Interest Rate	5.65%
Outstanding Balance	$ 1,113	1,486
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Lawrence [Member]
Debt Instrument [Line Items]
Interest Rate	4.00%
Outstanding Balance	$ 20,860	21,371
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charlotte [Member]
Debt Instrument [Line Items]
Interest Rate	5.47%
Outstanding Balance	$ 2,381	2,859
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Hawthorne [Member]
Debt Instrument [Line Items]
Interest Rate	6.60%
Outstanding Balance	$ 17,748	18,108
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charleston [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,041	1,210
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charleston [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,041	1,210
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charleston [Member]
Debt Instrument [Line Items]
Interest Rate	5.20%
Outstanding Balance	$ 1,059	1,230
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charlotte [Member]
Debt Instrument [Line Items]
Interest Rate	5.27%
Outstanding Balance	$ 903	1,049
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Des Plaines [Member]
Debt Instrument [Line Items]
Interest Rate	5.25%
Outstanding Balance	$ 2,482	2,537
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Waco [Member]
Debt Instrument [Line Items]
Interest Rate	4.55%
Outstanding Balance	$ 15,262	15,485
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Winston-Salem [Member]
Debt Instrument [Line Items]
Interest Rate	5.53%
Outstanding Balance	$ 4,403	4,998
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Winston-Salem [Member]
Debt Instrument [Line Items]
Interest Rate	5.50%
Outstanding Balance	$ 1,454	1,647
Continuing Operations [Member] | Mortgage Notes Payable [Member] | CCC Portfolio [Member]
Debt Instrument [Line Items]
Interest Rate	4.54%
Outstanding Balance	$ 23,393	0
Continuing Operations [Member] | Mortgage Notes Payable [Member] | KIK USA Portfolio [Member]
Debt Instrument [Line Items]
Interest Rate	4.82%
Outstanding Balance	$ 7,522	0
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Yuma [Member]
Debt Instrument [Line Items]
Interest Rate	5.15%
Outstanding Balance	$ 12,107	12,247
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Allentown [Member]
Debt Instrument [Line Items]
Interest Rate	5.07%
Outstanding Balance	$ 23,172	23,443
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Spartanburg [Member]
Debt Instrument [Line Items]
Interest Rate	6.33%
Outstanding Balance	$ 6,534	7,040
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charleston [Member]
Debt Instrument [Line Items]
Interest Rate	5.80%
Outstanding Balance	$ 6,816	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	$ 23,048	23,870
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Woodcliff Lake [Member]
Debt Instrument [Line Items]
Interest Rate	5.97%
Outstanding Balance	$ 35,703	36,681
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Columbus [Member]
Debt Instrument [Line Items]
Interest Rate	3.78%
Outstanding Balance	$ 19,942	20,644
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Columbus [Member]
Debt Instrument [Line Items]
Interest Rate	3.95%
Outstanding Balance	$ 5,955	6,094
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Deerfield [Member]
Debt Instrument [Line Items]
Interest Rate	4.75%
Outstanding Balance	$ 10,890	11,145
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Wilson [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	8,603
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Dividend Capital Portfolio [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	126,161
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Charlotte [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	13,025
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Coppell [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	10,391
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Jersey City [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	112,000
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Jersey City [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	101,726
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Blue Ash [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	14,896
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Blue Ash [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	13,139
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Blue Ash [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	12,485
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Bloomington [Member]
Debt Instrument [Line Items]
Outstanding Balance	0	19,824
Continuing Operations [Member] | Mortgage Notes Payable [Member] | Bloomington [Member]
Debt Instrument [Line Items]
Outstanding Balance	$ 0	$ 21,825

Debt Obligations (Unsecured Deb

Debt Obligations (Unsecured Debt) (Narrative) (Details)	9 Months Ended
	Sep. 30, 2016USD ($)extension	Dec. 31, 2015USD ($)	Dec. 17, 2015USD ($)
Debt Instrument [Line Items]
Outstanding balance, line of credit	$ 163,365,000	$ 296,724,000
Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt		618,169,000
Revolving Credit Facility [Member] | 2015 Revolving Credit Facility - U.S. Dollar Tranche [Member]
Debt Instrument [Line Items]
Outstanding balance, line of credit	$ 70,000,000	275,000,000
Interest Rate	1.51%
Revolving Credit Facility [Member] | 2015 Revolving Credit Facility - Multicurrency Tranche [Member]
Debt Instrument [Line Items]
Outstanding balance, line of credit	$ 93,365,000	21,724,000
Interest Rate	1.07%
JPMorgan Chase Bank [Member] | 2015 Revolving Credit Facility - U.S. Dollar Tranche [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity			$ 1,900,000,000
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			300,000,000
Term of instrument	3 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] | Term Loan [Member] | 5-Year Term Loan [Member]
Debt Instrument [Line Items]
Face amount			750,000,000
Term of instrument	5 years
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Line of Credit [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Face amount			850,000,000
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			750,000,000
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			100,000,000
JPMorgan Chase Bank [Member] | Revolving Credit Facility [Member] | Term Loan [Member] | Unsecured Credit Facility [Member]
Debt Instrument [Line Items]
Face amount			1,225,000,000
Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member]
Debt Instrument [Line Items]
Face amount			$ 175,000,000
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] | 5- and 7-Year Term Loans [Member]
Debt Instrument [Line Items]
Interest Rate	0.00%
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%
Chambers Street Properties [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Non-recourse debt		$ 464,292,000

Debt Obligations (Schedule of C

Debt Obligations (Schedule of Credit Facilities and Term Loans) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Line of Credit Facility [Line Items]
Outstanding Balance	$ 163,365	$ 296,724
2015 Revolving Credit Facility [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.51%
Effective Interest Rate	1.51%
Outstanding Balance	$ 70,000	275,000
2015 Revolving Credit Facility - Multicurrency Tranche [Member] | Revolving Credit Facility [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.07%
Effective Interest Rate	1.07%
Outstanding Balance	$ 93,365	21,724
3-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.66%
Effective Interest Rate	1.66%
Outstanding Balance	$ 300,000	300,000
5-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	1.66%
Effective Interest Rate	2.70%
Outstanding Balance	$ 750,000	750,000
7-Year Term Loan [Member] | Term Loan [Member]
Line of Credit Facility [Line Items]
Unswapped Interest Rate	2.05%
Effective Interest Rate	3.34%
Outstanding Balance	$ 175,000	175,000
Unsecured Revolving Credit and Term Loans [Member]
Line of Credit Facility [Line Items]
Outstanding Balance	$ 1,388,365	$ 1,521,724

Debt Obligations (Senior Unsecu

Debt Obligations (Senior Unsecured Notes) (Narrative) (Details) - USD ($) $ in Thousands	Dec. 17, 2015	Jan. 31, 2016	Sep. 30, 2016	Sep. 30, 2015
Debt Instrument [Line Items]
Proceeds from unsecured term loans and revolving credit facility			$ 306,466	$ 685,120
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)	Mar. 18, 2014USD ($)$ / shares	Sep. 30, 2016USD ($)$ / sharesshares	Dec. 31, 2015USD ($)	Dec. 17, 2015shares
Debt Instrument [Line Items]
Long-term Debt		$ 2,271,393,000
Reclassification of fair value of embedded exchange option on 3.75% exchangeable senior notes			$ 11,726,000
Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Long-term Debt		$ 115,000,000
Convertible Debt [Member] | Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Face amount	$ 115,000,000
Interest Rate		3.75%
Maturity date		Mar. 15, 2019
Redemption price, percentage of principal amount redeemed		100.00%
Conversion ratio		41.5897
Conversion of principal (in usd per share) | $ / shares	$ 1
Debt, fair value	$ 106,689,000
Long-term Debt		$ 108,186,000	106,581,000
Unamortized discount and deferred financing costs		$ 6,814,000	$ 8,419,000
Chambers Street Properties [Member]
Debt Instrument [Line Items]
Shares issued to shareholders in acquisition | 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		132.6628
Common Shares [Member] | Convertible Debt [Member] | Exchangeable Senior Notes 3.75% [Member]
Debt Instrument [Line Items]
Conversion price (in usd per share) | $ / shares		$ 7.54

Debt Obligations (Schedule of66

Debt Obligations (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Long-term Debt, Fiscal Year Maturity [Abstract]
Total mortgage notes payable, net	$ 2,271,393
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
October 1 to December 31, 2016, interest	14,085
2017, interest	54,530
2018, interest	51,469
2019, interest	42,599
2020, interest	36,715
Thereafter, interest	58,080
Below market interest	(651)
Interest payments, total	256,827
Long-term Debt and Interest, Fiscal Year Maturity [Abstract]
October 1 to December 31, 2016, total	17,643
2017, total	118,525
2018, total	142,760
2019, total	497,535
2020, total	258,987
Thereafter, total	1,236,594
Net premium, total	(651)
4.97% Unsecured Notes [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
October 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]
Below market interest	0
Exchangeable Senior Notes 3.75% [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
October 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]
Below market interest	0
Unsecured Debt [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
October 1 to December 31, 2016	0
2,017	0
2,018	0
2,019	0
2,020	163,365
Thereafter	0
Total mortgage notes payable, net	163,365
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Below market interest	0
Term Loan [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
October 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]
Below market interest	0
Mortgages [Member]
Long-term Debt, Fiscal Year Maturity [Abstract]
October 1 to December 31, 2016	3,558
2,017	63,995
2,018	91,291
2,019	39,936
2,020	58,907
Thereafter	103,514
Total mortgage notes payable, net	361,201
Long-term Debt, Interest Payments, Fiscal Year Maturity [Abstract]
Below market interest	$ 0

Leasing Agreements (Schedule of

Leasing Agreements (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Leases, Operating [Abstract]
October 1 to December 31, 2016	$ 86,390
2,017	347,694
2,018	341,886
2,019	320,834
2,020	295,084
Thereafter	1,762,937
Total minimum lease rental income	$ 3,154,825

Transactions with Trustee Rel68

Transactions with Trustee Related Entities and Related Parties (Narrative) (Details) € in Thousands, $ in Thousands	Jun. 30, 2016USD ($)Property	Jun. 30, 2016EUR (€)Property	Jan. 31, 2015USD ($)ft²Property	Sep. 30, 2016USD ($)ft²aPropertydirector	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)Property	Sep. 30, 2016EUR (€)ft²aPropertydirector	Jun. 29, 2016	Dec. 31, 2014
Related Party Transaction [Line Items]
Proceeds from sale of investment | $				$ 84,588	$ 0
Gain on sale of investment | $				(3,737)
Investments in joint ventures | $				$ 120,176		$ 580,000
Number of Properties | Property				46		41	46
Number of Acquisitions | Property				48		144
Purchase Price | $				$ 862,341		$ 3,726,563
Duke Realty [Member]
Related Party Transaction [Line Items]
Amount of related party transaction | $				333
KTR Capital Partners [Member]
Related Party Transaction [Line Items]
Number of Acquisitions | Property			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
The Company [Member] | Gramercy Europe [Member]
Related Party Transaction [Line Items]
Initial equity capital available				55,892			€ 50,000
Chief Executive Officer [Member] | Gramercy Europe [Member]
Related Party Transaction [Line Items]
Investments in joint ventures				1,388			1,250
Managing Directors [Member] | Gramercy Europe [Member]
Related Party Transaction [Line Items]
Investments in joint ventures				$ 1,388			€ 1,250
Goodman Europe JV [Member]
Related Party Transaction [Line Items]
Ownership percentage sold	74.90%	74.90%
Ownership %				5.10%			5.10%	80.00%
Proceeds from sale of investment	$ 148,884	€ 134,336
Gain on sale of investment | $	5,341
Number of Properties | Property				9		9	9
Gramercy European Property Fund [Member]
Related Party Transaction [Line Items]
Ownership %				14.20%			14.20%
Number of Properties | Property				24		12	24
Number of Acquisitions | Property				12		12
Gramercy Europe Asset [Member]
Related Party Transaction [Line Items]
Ownership %									50.00%
Number of managing directors | director				2			2
Duke Joint Venture [Member]
Related Party Transaction [Line Items]
Ownership %				80.00%			80.00%
Gain on sale of investment | $	$ 7,229
Number of Properties | Property				0		13	0
Number of Acquisitions | Property	7	7		7
Purchase Price | $				$ 276,100
Partially Owned Properties [Member] | Duke Joint Venture [Member] | Duke Realty [Member]
Related Party Transaction [Line Items]
Number of Properties | Property				1			1
Area of property leased | ft²				30,777			30,777
Area of real estate property | a				322,551			322,551

Fair Value Measurements (Narrat

Fair Value Measurements (Narrative) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)Property	Sep. 30, 2016USD ($)Property	Sep. 30, 2015USD ($)Property	Dec. 31, 2015USD ($)Property	Dec. 17, 2015Property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Change in net unrealized gain (loss) on derivative instruments | $	$ 7,653	$ (2,584)	$ (25,996)	$ (3,248)
Number of real estate properties sold	10	2	20	5
Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Number of properties held-for-sale	1		1		6	6
Number of real estate properties sold			5
Fair value, less costs to sell | $	$ 10,558		$ 10,558		$ 393,984

Fair Value Measurements (Schedu

Fair Value Measurements (Schedule of Carrying Value and Fair Value of Financial Instruments) (Details) $ in Thousands	Sep. 30, 2016USD ($)Property	Dec. 31, 2015USD ($)Property	Dec. 17, 2015Property
Financial assets:
Retained CDO Bonds, Carrying Value	$ 8,439	$ 7,471
Retained CDO Bonds, Fair Value	8,439	7,471
Equity method investment, Carrying Value	120,176	580,000
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	11,009	420,485
Financial liabilities:
Revolving credit facilities, Carrying Value	163,365	296,724
Revolving credit facilities, Fair Value	163,003	297,394
Mortgage notes payable, Carrying Value	368,386	770,293
Mortgage notes payable, Fair Value	379,372	805,590
Senior unsecured notes, Carrying Value	148,978	100,000
Senior unsecured notes, Fair Value	157,786	100,528
Exchangeable senior notes, Carrying Value	108,186	109,394
Exchangeable senior notes, Fair Value	116,843	115,524
Long-term debt, Carrying Value	2,271,393
CBRE Strategic Partners Asia [Member]
Financial assets:
Investments, Fair Value	4,557	5,508
Equity method investment, Carrying Value	4,557	5,508
3-Year Term Loan [Member]
Financial liabilities:
Term loans, Carrying Value	300,000	300,000
Term loans, Fair Value	298,578	300,349
5-Year Term Loan [Member]
Financial liabilities:
Term loans, Carrying Value	750,000	750,000
Term loans, Fair Value	743,273	751,304
7-Year Term Loan [Member]
Financial liabilities:
Term loans, Carrying Value	175,000	175,000
Term loans, Fair Value	$ 172,723	$ 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	6
Financial assets:
Real estate investments classified as held-for-sale at Merger closing, Carrying Value	$ 11,009	$ 420,485
Mortgages [Member]
Financial liabilities:
Long-term debt, Carrying Value	361,201
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	10,558	393,984
Real estate investments classified as held-for-sale at Merger closing, Fair Value	10,558	393,984
Interest Rate Swap [Member]
Financial liabilities:
Derivative instruments, Carrying Value	28,613	3,442
Derivative instruments, Fair Value	$ 28,613	$ 3,442

Fair Value Measurements (Sche71

Fair Value Measurements (Schedule of Fair Value, Assets and Liabilities Measured on Recurring Basis) (Details) - Estimate of Fair Value Measurement [Member] - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	$ 23,554	$ 406,963
Financial Liabilities:	28,613	3,442
Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	28,613	3,442
Non-investment grade, subordinate CDO bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	8,439	7,471
Investments in CBRE Strategic Partners Asia [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	4,557	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 Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	0	0
Fair Value, Inputs, Level 1 [Member] | Non-investment grade, subordinate CDO bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 1 [Member] | Investments in CBRE Strategic Partners Asia [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 Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	0	0
Fair Value, Inputs, Level 2 [Member] | Non-investment grade, subordinate CDO bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Fair Value, Inputs, Level 2 [Member] | Investments in CBRE Strategic Partners Asia [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:	23,554	406,963
Financial Liabilities:	28,613	3,442
Fair Value, Inputs, Level 3 [Member] | Interest Rate Swaps [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Liabilities:	28,613	3,442
Fair Value, Inputs, Level 3 [Member] | Non-investment grade, subordinate CDO bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	8,439	7,471
Fair Value, Inputs, Level 3 [Member] | Investments in CBRE Strategic Partners Asia [Member] | Equity Method Investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	4,557	5,508
Chambers Street Properties [Member] | Real estate investments classified as held for sale at Merger closing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	10,558	393,984
Chambers Street Properties [Member] | Fair Value, Inputs, Level 1 [Member] | Real estate investments classified as held for sale at Merger closing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Chambers Street Properties [Member] | Fair Value, Inputs, Level 2 [Member] | Real estate investments classified as held for sale at Merger closing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	0	0
Chambers Street Properties [Member] | Fair Value, Inputs, Level 3 [Member] | Real estate investments classified as held for sale at Merger closing [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Financial Assets:	$ 10,558	$ 393,984

Fair Value Measurements (Fair V

Fair Value Measurements (Fair Value, Assets and Liabilities Measured on Recurring Basis, Valuation Techniques) (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retained CDO Bonds, Fair Value	$ 8,439	$ 7,471
CBRE Strategic Partners Asia [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investments, Fair Value	$ 4,557	$ 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	$ 28,613
Retained CDO Bonds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Retained CDO Bonds, Fair Value	$ 8,439
Discount rate	17.50%
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	2.45%

Fair Value Measurements (Fair73

Fair Value Measurements (Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 12,979
Amortization of discounts or premiums	1,427
Adjustments to fair value:
Unrealized gain in other comprehensive income from fair value adjustments	(459)
Total income on fair value adjustments	(637)
Purchase price allocation adjustments	(314)
Ending balance	12,996
Retained CDO Bonds [Member]
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	7,471
Amortization of discounts or premiums	1,427
Adjustments to fair value:
Unrealized gain in other comprehensive income from fair value adjustments	(459)
Total income on fair value adjustments	0
Purchase price allocation adjustments	0
Ending balance	8,439
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 adjustments	0
Total income on fair value adjustments	(637)
Purchase price allocation adjustments	(314)
Ending balance	$ 4,557

Fair Value Measurements (Fair74

Fair Value Measurements (Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation) (Details) - Fair Value, Inputs, Level 3 [Member] $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning balance	$ 3,442
Adjustments to fair value:
Termination of derivative instrument	(8)
Ineffective portion of change in derivative instruments	(817)
Unrealized loss on derivatives	25,996
Ending balance	$ 28,613

Derivatives and Non-Derivativ75

Derivatives and Non-Derivative Hedging Instruments (Schedule of Derivative Instruments) (Details) - Not Designated as Hedging Instrument [Member] € in Thousands, £ in Thousands, $ in Thousands	Sep. 30, 2016USD ($)	Sep. 30, 2016EUR (€)	Sep. 30, 2016GBP (£)
Derivative [Line Items]
Fair Value	$ 28,613
Interest Rate Swap Strike Rate 4.55% [Member]
Derivative [Line Items]
Notional Value	$ 15,262
Strike Rate	4.55%	4.55%	4.55%
Fair Value	$ 882
Interest Rate Swap Strike Rate 1.78% [Member]
Derivative [Line Items]
Notional Value	$ 19,942
Strike Rate	1.78%	1.78%	1.78%
Fair Value	$ 323
Interest Rate Swap Strike Rate 1.95% [Member]
Derivative [Line Items]
Notional Value	$ 5,955
Strike Rate	1.95%	1.95%	1.95%
Fair Value	$ 151
Interest Rate Swap Strike Rate 2.60% [Member]
Derivative [Line Items]
Notional Value	$ 750,000
Strike Rate	1.60%	1.60%	1.60%
Fair Value	$ 19,515
Interest Rate Swap Strike Rate 1.82% [Member]
Derivative [Line Items]
Notional Value	$ 175,000
Strike Rate	1.82%	1.82%	1.82%
Fair Value	$ 7,742
Net Investment Hedge in Euro-denominated Investments [Member]
Derivative [Line Items]
Notional Value | €		€ 45,000
Fair Value	0
Net Investment Hedge in GBP-denominated Investments [Member]
Derivative [Line Items]
Notional Value | £			£ 33,000
Fair Value	$ 0

Derivatives and Non-Derivativ76

Derivatives and Non-Derivative Hedging Instruments (Narrative) (Details) - USD ($)	Jun. 30, 2016	Sep. 30, 2016	Jun. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Jun. 29, 2016
Derivative [Line Items]
Interest expense		$ 18,409,000		$ 9,227,000	$ 57,271,000	$ 23,225,000
Interest Rate Swap [Member]
Derivative [Line Items]
Net liability of derivative		28,613,000			28,613,000
(Gain) loss on derivative		(83,000)			(817,000)
Gain (loss) on hedge ineffectiveness			$ 2,564,000	$ 0		$ 0
Amounts reclassified from OCI					9,113,000
Remaining AOCI balance related to swap to be reclassified in the next twelve months		1,087,000			1,087,000
Interest Rate Swap [Member] | 2014 Term Loan [Member]
Derivative [Line Items]
Interest expense		274,000			905,000
Interest expense to be recognized					2,923,000
Foreign Currency Forward Contract [Member]
Derivative [Line Items]
Net income (loss) on derivative		128,000			(22,000)
Net Investment Hedge in GBP-denominated Investments [Member]
Derivative [Line Items]
Net liability of derivative		93,365,000			93,365,000
(Gain) loss on derivative		$ 109,000			$ 175,000
JPMorgan Chase Bank [Member] | Term Loan [Member] | 5-Year Term Loan [Member]
Derivative [Line Items]
Term of instrument					5 years
Capital One [Member] | Term Loan [Member] | 7-Year Term Loan [Member]
Derivative [Line Items]
Term of instrument					7 years
Goodman Europe JV [Member]
Derivative [Line Items]
Ownership percentage sold	74.90%
Ownership %		5.10%			5.10%		80.00%
Minimum [Member] | 5- and 7-Year Term Loans [Member]
Derivative [Line Items]
Interest Rate		0.00%			0.00%

Shareholders' Equity (Deficit77

Shareholders' Equity (Deficit) (Narrative) (Details)	1 Months Ended
	Jul. 31, 2016USD ($)	Jun. 30, 2016shares	Feb. 28, 2015	Sep. 30, 2016$ / sharesshares	Feb. 29, 2016USD ($)	Dec. 31, 2015$ / sharesshares	Dec. 17, 2015$ / sharesshares
Class of Stock [Line Items]
Capital units, authorized (in shares)				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				421,978,800		420,523,153
At-the-market offering | $	$ 375,000,000
Shares registered for DRIP (in shares)		10,000,000
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		3,500,000
Cumulative redeemable preferred stock, par value (in usd per share) | $ / shares				$ 0.01		$ 0.01
Cumulative redeemable preferred stock, shares issued				3,500,000		3,500,000
Chambers Street Properties [Member]
Class of Stock [Line Items]
Shares issued to shareholders in acquisition							3.1898

Shareholders' Equity (Deficit78

Shareholders' Equity (Deficit) Shareholders' Equity (Deficit) (Common Stock Dividends) (Details) - $ / shares	3 Months Ended
	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016
Equity [Abstract]
Common stock, dividends declared (in usd per share)	$ 0.11	$ 0.11	$ 0.110

Shareholders' Equity (Deficit79

Shareholders' Equity (Deficit) (Preferred Stock) (Narrative) (Details) - $ / shares	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Preferred stock, shares outstanding	3,500,000	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

Shareholders' Equity (Deficit80

Shareholders' Equity (Deficit) (Equity Plan Summaries and Activities) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unvested restricted shares outstanding (in shares)	1,026,037	1,026,037		1,026,037		684,199
2016 Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares authorized (in shares)	12,000,000	12,000,000		12,000,000
2015 Equity Incentive Award [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Shares available for grant (in shares)	10,828,176	10,828,176		10,828,176
Equity Incentive Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)				2,920,116
Shares vesting percentage				62.00%
Equity Incentive Plan [Member] | Restricted Stock [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 614	$ 416	$ 1,701	$ 914
Share based compensation expense, not yet recognized	$ 5,749	5,749		$ 5,749
Share based compensation expense, not yet recognized, period of recognition				37 months
2012 Outperformance Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		488	$ 488	$ 1,464	$ 1,464
Share based compensation expense, not yet recognized	$ 7,058	$ 7,058		$ 7,058
Share based compensation expense, not yet recognized, period of recognition				38 months
Executives [Member] | Long-term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Grants in period (in shares)	1,140,304
Conversion ratio (in shares)				1
Tranche One [Member] | Executives [Member] | Long-term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%
Tranche Two [Member] | Executives [Member] | Long-term Incentive Plan Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting percentage				50.00%

Shareholders' Equity (Deficit81

Shareholders' Equity (Deficit) (Deferred Stock Compensation Plan for Directors) (Narrative) (Details) - USD ($) $ in Thousands	1 Months Ended
	Dec. 31, 2015	Sep. 30, 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

Shareholders' Equity (Deficit82

Shareholders' Equity (Deficit) (Schedule of Calculation of Numerator and Denominator in Earnings Per Share) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 17, 2015
Numerator - Income (loss)
Net income (loss) from continuing operations	$ (3,411)	$ 1,659	$ 14,461	$ 1,076
Net income (loss) from discontinued operations	347	(41)	5,045	17
Income (loss) before gains on disposals	(3,064)	1,618	19,506	1,093
Net gains on disposals	2,336	392	2,336	593
Gain on sale of European unconsolidated equity investment interests held with a related party	0	0	5,341	0
Net income (loss)	(728)	2,010	27,183	1,686
Net income (loss) attributable to noncontrolling interest	(221)	(20)	(152)	43
Nonforfeitable dividends allocated to unvested restricted shareholders	(196)	0	(596)	0
Preferred share dividends	(1,559)	(1,559)	(4,676)	(4,676)
Net income (loss) available to vested common shares outstanding	$ (2,704)	$ 431	$ 21,759	$ (2,947)
Weighted average basic shares outstanding (in shares)	420,772,508	183,945,495	423,542,467	169,781,590
Effect of dilutive securities
Unvested share based payment awards (in shares)	0	1,686,542	413,409	0
Option (in shares)	0	37,975	41,406	0
Phantom shares (in shares)	0	514,834	0	0
OP Units (in shares)	0	1,498,785	1,199,312	0
Exchangeable Senior Notes (in shares)	0	0	1,966,532	0
Diluted shares (in shares)	420,772,508	187,683,631	427,163,126	169,781,590
Chambers Street Properties [Member]
Effect of dilutive securities
Shares issued to shareholders in acquisition (in shares)					3.1898

Shareholders' Equity (Deficit83

Shareholders' Equity (Deficit) (Earnings per Share) (Narrative) (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Class of Stock [Line Items]
Weighted average common stock price, benchmark for exclusion of conversion premium (in usd per share)	$ 7.76	$ 7.76	$ 7.54	$ 7.76
Equity Option [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)	58,270			44,624
Stock Compensation Plan [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)	3,519,584			2,969,744
Phantom Share Units (PSUs) [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)				514,834
OP Units [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)	1,017,326			1,582,067
Exchangeable Senior Notes [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)	3,336,987			658,380
Unvested Restricted Stock [Member]
Class of Stock [Line Items]
Securities excluded from computation of EPS (in shares)	1,118,760			630,566

Shareholders' Equity (Deficit84

Shareholders' Equity (Deficit) (Schedule of Accumulated Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Equity [Abstract]
Net unrealized loss on derivative securities	$ (32,070)	$ (6,074)
Net unrealized gain on debt instruments	551	1,010
Gain (loss) on non-derivative net investment hedge	(161)	14
Other foreign currency translation adjustments	(4,168)	(656)
Reclassification of accumulated foreign currency translation adjustments due to disposal	(3,737)	0
Reclassification of swap gain (loss) into interest expense	868	(45)
Total accumulated other comprehensive income (loss)	$ (38,717)	$ (5,751)

Noncontrolling Interest (Narrat

Noncontrolling Interest (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	9 Months Ended	12 Months Ended
	Sep. 30, 2016	Dec. 31, 2015	Dec. 17, 2015	Dec. 31, 2014
Noncontrolling Interest [Line Items]
Common stock, par value (in usd per share)	$ 0.01	$ 0.01	$ 0.01
Noncontrolling interest in operating partnership (in usd)	$ 9,076	$ 10,892
Noncontrolling interest in other partnerships	$ (169)	$ (249)
Operating Partnership Units [Member]
Noncontrolling Interest [Line Items]
Shares converted	469,372	453,129
Temporary equity, shares outstanding	941,537
Capital shares reserved for future issuance	941,537
Ownership percentage by noncontrolling owners	0.22%
Chambers Street Properties [Member]
Noncontrolling Interest [Line Items]
Shares issued to shareholders in acquisition			3.1898
OP Units [Member] | Common Shares [Member]
Noncontrolling Interest [Line Items]
Shares converted	1
Gramercy Europe Asset [Member]
Noncontrolling Interest [Line Items]
Ownership %				50.00%

Noncontrolling Interest (Noncon

Noncontrolling Interest (Noncontrolling Interest in the Operating Partnership) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Balance at beginning of period	$ 10,892
Redemption of noncontrolling interests in the Operating Partnership	(4,159)
Net loss attribution	62
Fair value adjustments	2,741
Dividends	(460)
Balance at end of period	$ 9,076

Commitments and Contingencies87

Commitments and Contingencies (Narrative) (Details) € in Thousands	1 Months Ended		3 Months Ended		9 Months Ended
	Apr. 30, 2015USD ($)	Dec. 31, 2010USD ($)	Sep. 30, 2016USD ($)ft²Propertylawsuit	Sep. 30, 2015USD ($)	Sep. 30, 2016USD ($)ft²Propertylawsuit	Sep. 30, 2015USD ($)	Sep. 30, 2016EUR (€)ft²Propertylawsuit	Aug. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2015EUR (€)
Commitments And Contingencies [Line Items]
Proceeds from sale of joint venture to director related entity					$ 148,884,000	$ 0
Investment in unconsolidated equity investment			$ 120,176,000		120,176,000				$ 580,000,000
Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Ownership %		45.00%
Proceeds from sale of joint venture to director related entity		$ 25,600,000
Carrying amount of mortgages		86,100,000
Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Contingency accrual			8,000,000		8,000,000				8,000,000
The Company [Member] | Gramercy Europe [Member]
Commitments And Contingencies [Line Items]
Initial equity capital available			55,892,000		55,892,000		€ 50,000
New York State Division Of Taxation and Finance | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Interest accrued			0	$ 0	0	$ 68,000
NYC DOF [Member]
Commitments And Contingencies [Line Items]
Tax settlement	$ 4,025,000
NYC DOF [Member] | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Real estate tax expense		2,924,000
NYS DOT [Member]
Commitments And Contingencies [Line Items]
Tax settlement	$ 617,000
NYS DOT [Member] | Herald Square Property [Member]
Commitments And Contingencies [Line Items]
Real estate tax expense		$ 446,000
Minimum [Member] | Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			8,000,000		8,000,000
Maximum [Member] | Clayton, Missouri 130 South Bemiston Ave [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			13,000,000		13,000,000
Chambers Street Properties [Member]
Commitments And Contingencies [Line Items]
Estimate of possible loss			1,000,000		1,000,000				1,000,000
Proportion Foods [Member]
Commitments And Contingencies [Line Items]
Amount committed			24,950,000		24,950,000
Proportion Foods [Member] | Proportion Foods [Member]
Commitments And Contingencies [Line Items]
Amount committed			47,460,000		47,460,000
Amount funded			$ 12,849,000		$ 12,849,000
Gramercy European Property Fund [Member]
Commitments And Contingencies [Line Items]
Amount funded									25,663,000	€ 23,160
Ownership %			14.20%		14.20%		14.20%
Investment in unconsolidated equity investment			$ 52,611,000		$ 52,611,000				23,381,000
Strategic Office Partners [Member]
Commitments And Contingencies [Line Items]
Ownership %			25.00%		25.00%		25.00%	25.00%
Commitment amount			$ 400,000,000		$ 400,000,000
Investment in unconsolidated equity investment			15,737,000		15,737,000			$ 16,027,000	$ 0
Payments to joint venture			46,608,000
Strategic Office Partners [Member] | Parent Company [Member]
Commitments And Contingencies [Line Items]
Commitment amount			$ 100,000,000		$ 100,000,000
Lawsuits filed in New York [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			2		2		2
Lawsuits filed in Baltimore City [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			4		4		4
Original lawsuits filed in Baltimore City [Member] | Pending Litigation [Member]
Commitments And Contingencies [Line Items]
Number of claims | lawsuit			2		2		2
Build-to-suit Property [Member]
Commitments And Contingencies [Line Items]
Properties obligated to build | Property			2		2		2
Build-to-suit Property [Member] | Round Rock [Member]
Commitments And Contingencies [Line Items]
Area of real estate property | ft²			240,411		240,411		240,411
Build-to-suit Property [Member] | Summerville [Member]
Commitments And Contingencies [Line Items]
Area of real estate property | ft²			240,800		240,800		240,800

Commitments and Contingencies88

Commitments and Contingencies (Schedule of Future Minimum Rental Payments) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Ground Leases - Operating
October 1 to December 31, 2016, operating	$ 432
2017, operating	1,728
2018, operating	1,731
2019, operating	1,740
2020, operating	1,732
Thereafter, operating	48,062
Total minimum rent expense, operating	55,425
Ground Leases - Capital
October 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
October 1 to December 31, 2016	432
2,017	1,728
2,018	1,731
2,019	1,740
2,020	1,732
Thereafter	48,391
Total minimum rent expense	$ 55,754

Income Taxes (Narrative) (Detai

Income Taxes (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Income Tax Disclosure [Abstract]
Income tax expense	$ 331	$ 985	$ 3,734	$ 2,116

Segment Reporting (Narrative) (

Segment Reporting (Narrative) (Details)	9 Months Ended
	Sep. 30, 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		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Segment Reporting Information [Line Items]
Total revenues	$ 131,092	$ 65,213	$ 391,062	$ 167,295
Equity in net loss from unconsolidated equity investments	(1,138)	(1,096)	(4,061)	(974)
Total operating and interest expense	(133,365)	(62,458)	(372,540)	(165,245)
Income (loss) from continuing operations	(3,411)	1,659	14,461	1,076
Assets:
Total assets	5,183,230		5,183,230		$ 5,834,518
Depreciation and amortization	62,863	25,120	181,649	68,534
Total income tax benefit (provision)	331	985	3,734	2,116
Operating Segments [Member] | Asset Management [Member]
Segment Reporting Information [Line Items]
Total revenues	7,250	5,138	30,824	17,546
Equity in net loss from unconsolidated equity investments	0	0	0	0
Total operating and interest expense	(5,240)	(5,235)	(19,222)	(16,592)
Income (loss) from continuing operations	2,010	(97)	11,602	954
Assets:
Total assets	27,197		27,197		5,882
Operating Segments [Member] | Investments/Corporate [Member]
Segment Reporting Information [Line Items]
Total revenues	123,842	60,075	360,238	149,749
Equity in net loss from unconsolidated equity investments	(1,138)	(1,096)	(4,061)	(974)
Total operating and interest expense	(128,125)	(57,223)	(353,318)	(148,653)
Income (loss) from continuing operations	(5,421)	$ 1,756	2,859	$ 122
Assets:
Total assets	$ 5,156,033		$ 5,156,033		$ 5,828,636

Supplemental Cash Flow Inform92

Supplemental Cash Flow Information (Non-Cash Activities Recognized in Other Comprehensive Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Supplemental Cash Flow Elements [Abstract]
Interest paid			$ 59,700	$ 22,388
Income taxes paid			2,614	1,238
Proceeds from 1031 exchanges from sale of real estate			617,538	8,619
Use of funds from 1031 exchanges for acquisitions of real estate			(460,191)	(8,619)
Non-cash activity:
Fair value adjustment to noncontrolling interest in the Operating Partnership			2,741	(1,390)
Debt assumed in acquisition of real estate			(45,958)	153,877
Debt transferred in disposition of real estate			(101,432)	0
Treasury securities transferred in connection with defeasance of notes payable			(144,063)	0
Transfer of defeased note payable			124,605	0
Contribution of real estate assets as investment in unconsolidated equity investments			(182,168)	0
Redemption of units of noncontrolling interest in the Operating Partnership for common shares			(4,159)	(3,127)
Distribution of real estate assets from unconsolidated equity investment			263,015	0
Change in net unrealized loss on securities available for sale			(459)	6,129
Deferred losses and other non-cash activity related to derivatives			(25,996)	(3,248)
Non-cash effect of foreign currency translation adjustments	$ (1,120)	$ (360)	$ (3,687)	$ (309)

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended				9 Months Ended	12 Months Ended
	Nov. 04, 2016USD ($)ft²Property	Dec. 31, 2016$ / shares	Sep. 30, 2016USD ($)ft²Property$ / shares	Jun. 30, 2016$ / shares	Mar. 31, 2016$ / shares	Sep. 30, 2016USD ($)ft²Property	Dec. 31, 2015ft²Property
Subsequent Event [Line Items]
Common stock, dividends declared (in usd per share) | $ / shares			$ 0.11	$ 0.11	$ 0.110
Number of Acquisitions | Property						48	144
Square Feet | ft²						11,464,734	33,800,146
Subsequent Event [Member]
Subsequent Event [Line Items]
Common stock, dividends declared (in usd per share) | $ / shares		$ 0.125
Individual Acquisitions [Member]
Subsequent Event [Line Items]
Number of Acquisitions | Property			16			48
Square Feet | ft²			2,795,476			11,464,734
Purchase price of real estate | $			$ 237,432			$ 862,341
Individual Acquisitions [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Number of Acquisitions | Property	6
Square Feet | ft²	1,528,223
Purchase price of real estate | $	$ 136,875
Percentage of occupancy for leased office and industrial property	100.00%