Black Creek Diversified Property Fund 10-K 3 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 24, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Dividend Capital Diversified Property Fund Inc.
Entity Central Index Key	1,327,978
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Public Float			$ 0
Class E
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		112,526,991
Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,027,074
Class W
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		2,372,400
Class I
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		33,942,117

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
ASSETS
Investments in real property		$ 2,204,322	$ 2,380,174
Accumulated depreciation and amortization		(492,911)	(505,957)
Total net investments in real property		1,711,411	1,874,217
Debt-related investments, net		15,209	15,722
Total net investments		1,726,620	1,889,939
Cash and cash equivalents		13,864	15,769
Restricted cash		7,282	18,394
Other assets, net		35,962	36,789
Total Assets		1,783,728	1,960,891
Liabilities:
Accounts payable and accrued expenses	[1]	34,085	39,645
Mortgage notes		342,247	585,864
Unsecured borrowings		706,554	511,905
Intangible lease liabilities, net		59,545	63,874
Other liabilities		33,206	33,652
Total Liabilities		1,175,637	1,234,940
Stockholders' equity:
Common stock, $0.01 par value; 1,000,000,000 shares authorized; 150,636,393 and 164,124,057 shares issued and outstanding, as of December 31, 2016 and December 31, 2015, respectively	[2]	1,506	1,641
Additional paid-in capital		1,361,638	1,470,859
Distributions in excess of earnings		(839,896)	(832,681)
Accumulated other comprehensive loss		(6,905)	(11,014)
Total stockholders’ equity		516,343	628,805
Noncontrolling interests		91,748	97,146
Total Equity		608,091	725,951
Total Liabilities and Equity		$ 1,783,728	$ 1,960,891
[1]	Includes approximately $3.6 million and $5.1 million that we owed to our Advisor and affiliates of our Advisor for services and reimbursement of certain expenses as of December 31, 2016 and December 31, 2015, respectively.
[2]	Includes 112,325,127 shares of Class E common stock, 2,001,359 shares of Class A common stock, 2,271,361 shares of Class W common stock, and 34,038,546 shares of Class I common stock issued and outstanding as of December 31, 2016, and 137,275,396 shares of Class E common stock, 1,703,109 shares of Class A common stock, 1,812,277 shares of Class W common stock, and 23,334,275 shares of Class I common stock issued and outstanding as of December 31, 2015.

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands		Dec. 31, 2016	Dec. 31, 2015
Common stock, par value		$ 0.01	$ 0.01
Common stock, shares authorized		1,000,000,000	1,000,000,000
Common stock, shares issued		150,636,393	164,124,057
Common stock, shares outstanding		150,636,393	164,124,057
Accounts payable and accrued expenses	[1]	$ 34,085	$ 39,645
Class E
Common stock, shares issued		112,325,127	137,275,396
Common stock, shares outstanding		112,325,127	137,275,396
Class A
Common stock, shares issued		2,001,359	1,703,109
Common stock, shares outstanding		2,001,359	1,703,109
Class W
Common stock, shares issued		2,271,361	1,812,277
Common stock, shares outstanding		2,271,361	1,812,277
Class I
Common stock, shares issued		34,038,546	23,334,275
Common stock, shares outstanding		34,038,546	23,334,275
Advisor And Advisor Affiliates
Accounts payable and accrued expenses		$ 3,600	$ 5,100
[1]	Includes approximately $3.6 million and $5.1 million that we owed to our Advisor and affiliates of our Advisor for services and reimbursement of certain expenses as of December 31, 2016 and December 31, 2015, respectively.

CONSOLIDATED STATEMENTS OF INCO

CONSOLIDATED STATEMENTS OF INCOME - USD ($) shares in Thousands, $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
REVENUE:
Rental revenue		$ 215,227	$ 218,278	$ 224,201
Debt-related income		943	6,922	7,396
Total Revenue		216,170	225,200	231,597
EXPENSES:
Rental expense		65,587	59,590	50,997
Real estate depreciation and amortization expense		80,105	83,114	88,994
General and administrative expenses	[1]	9,450	10,720	11,108
Advisory fees, related party		14,857	17,083	15,919
Acquisition-related expenses		667	2,644	1,205
Impairment of real estate property	[2]	2,677	8,124	9,500
Total Operating Expenses		173,343	181,275	177,723
Other Income (Expenses):
Interest and other income		2,207	2,192	1,168
Interest expense		(40,782)	(47,508)	(61,903)
Gain (loss) on extinguishment of debt and financing commitments		5,136	(1,168)	(63)
Gain on sale of real property	[3]	45,660	134,218	10,914
Income from continuing operations		55,048	131,659	3,990
Discontinued operations	[4]	0	0	30,004
Net income		55,048	131,659	33,994
Net income attributable to noncontrolling interests		(5,072)	(7,404)	(4,802)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS		$ 49,976	$ 124,255	$ 29,192
Net income per basic and diluted common share:
Continuing operations (usd per share)		$ 0.31	$ 0.70	$ 0.02
Discontinued operations (usd per share)		0	0	0.14
NET INCOME PER BASIC AND DILUTED COMMON SHARE (usd per share)		$ 0.31	$ 0.70	$ 0.16
WEIGHTED AVERAGE NUMBER OF COMMON SHARES OUTSTANDING
Basic (in shares)		159,648	175,938	178,273
Diluted (in shares)		172,046	188,789	190,991
[1]	Includes approximately $6.4 million, $7.1 million and $6.8 million incurred by our Advisor and its affiliates for reimbursable expenses during the years ended December 31, 2016, 2015, and 2014, respectively.
[2]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.
[3]	Includes approximately $1.9 million, $4.8 million, and $419,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016, 2015 and 2014, respectively.
[4]	Includes approximately $1.6 million paid to our Advisor for fees associated with the disposition of real properties during the year ended December 31, 2014.

CONSOLIDATED STATEMENTS OF INC5

CONSOLIDATED STATEMENTS OF INCOME (Parenthetical) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
General and administrative expenses	[1]	$ 9,450	$ 10,720	$ 11,108
Impairment of real estate property	[2]	2,677	8,124	9,500
Gain on sale of real property	[3]	45,660	134,218	10,914
Discontinued operations	[4]	0	0	30,004
Advisory Fees Related to the Disposition Of Real Properties
Impairment of real estate property		265	125
Gain on sale of real property		1,900	4,800	419
Discontinued operations				1,600
Series of Individually Immaterial Business Acquisitions
General and administrative expenses		$ 6,400	$ 7,100	$ 6,800
[1]	Includes approximately $6.4 million, $7.1 million and $6.8 million incurred by our Advisor and its affiliates for reimbursable expenses during the years ended December 31, 2016, 2015, and 2014, respectively.
[2]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.
[3]	Includes approximately $1.9 million, $4.8 million, and $419,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016, 2015 and 2014, respectively.
[4]	Includes approximately $1.6 million paid to our Advisor for fees associated with the disposition of real properties during the year ended December 31, 2014.

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net Income	$ 55,048	$ 131,659	$ 33,994
Other Comprehensive (Loss) Income:
Net unrealized change from available-for-sale securities	0	0	(211)
Change from cash flow hedging derivatives	4,416	(977)	721
Total Other Comprehensive (Loss) Income	4,416	(977)	510
Comprehensive income	59,464	130,682	34,504
Comprehensive income attributable to noncontrolling interests	(5,379)	(7,321)	(4,637)
COMPREHENSIVE INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 54,085	$ 123,361	$ 29,867

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Distributions in Excess of Earnings	Accumulated Other Comprehensive Loss	Noncontrolling Interests
Beginning Balances (in shares) at Dec. 31, 2013		176,007,000
Beginning balance at Dec. 31, 2013	$ 805,011	$ 1,760	$ 1,582,886	$ (860,747)	$ (10,794)	$ 91,906
Comprehensive income (loss):
Net Income	33,994			29,192		4,802
Net unrealized change from available-for-sale securities	(211)				(196)	(15)
Unrealized change from cash flow hedging derivatives	721				671	50
Common stock:
Issuance of common stock, net of offering costs (in shares)		13,923,000
Issuance of common stock, net of offering costs	87,101	$ 140	86,961
Issuance of common stock, stock-based compensation plans (in shares)		136,000
Issuance of common stock, stock-based compensation plans	777	$ 1	776
Redemptions of common stock (in shares)		(11,666,000)
Redemptions of common stock	(82,236)	$ (117)	(82,119)
Amortization of stock-based compensation	30		30
Distributions declared on common stock	(62,236)			(62,236)
Noncontrolling interests:
Contributions from noncontrolling interest	104					104
Distributions declared to noncontrolling interests	(9,390)					(9,390)
Redemptions of noncontrolling interests	(7,900)		(1,121)		199	(6,978)
Buyout of noncontrolling interest	(1,785)		(969)			(816)
Ending Balances (in shares) at Dec. 31, 2014		178,400,000
Ending balance at Dec. 31, 2014	763,980	$ 1,784	1,586,444	(893,791)	(10,120)	79,663
Comprehensive income (loss):
Net Income	131,659			124,255		7,404
Net unrealized change from available-for-sale securities	0
Unrealized change from cash flow hedging derivatives	(977)				(922)	(55)
Common stock:
Issuance of common stock, net of offering costs (in shares)		14,262,000
Issuance of common stock, net of offering costs	96,949	$ 142	96,807
Issuance of common stock, stock-based compensation plans (in shares)		618,000
Issuance of common stock, stock-based compensation plans	1,263	$ 6	1,257
Redemptions of common stock (in shares)		(29,156,000)
Redemptions of common stock	(213,796)	$ (291)	(213,505)
Amortization of stock-based compensation	32		32
Distributions declared on common stock	(62,900)			(62,900)
Distributions on Unvested Advisor RSUs	(245)			(245)
Noncontrolling interests:
Contributions from noncontrolling interest	17,337					17,337
Distributions declared to noncontrolling interests	(4,689)					(4,689)
Redemptions of noncontrolling interests	$ (2,662)		(176)		28	(2,514)
Ending Balances (in shares) at Dec. 31, 2015	164,124,057	164,124,000
Ending balance at Dec. 31, 2015	$ 725,951	$ 1,641	1,470,859	(832,681)	(11,014)	97,146
Comprehensive income (loss):
Net Income	55,048			49,976		5,072
Net unrealized change from available-for-sale securities	0
Unrealized change from cash flow hedging derivatives	4,416				4,109	307
Common stock:
Issuance of common stock, net of offering costs (in shares)		14,952,000
Issuance of common stock, net of offering costs	100,447	$ 150	100,297
Issuance of common stock, stock-based compensation plans (in shares)		32,000
Issuance of common stock, stock-based compensation plans	306	$ 0	306
Redemptions of common stock (in shares)		(28,472,000)
Redemptions of common stock	(210,572)	$ (285)	(210,287)
Amortization of stock-based compensation	1,109		1,109
Distributions declared on common stock	(57,040)			(57,040)
Distributions on Unvested Advisor RSUs	(151)			(151)
Noncontrolling interests:
Contributions from noncontrolling interest	3,225					3,225
Distributions declared to noncontrolling interests	(9,006)					(9,006)
Redemptions of noncontrolling interests	$ (5,642)		(646)		0	(4,996)
Ending Balances (in shares) at Dec. 31, 2016	150,636,393	150,636,000
Ending balance at Dec. 31, 2016	$ 608,091	$ 1,506	$ 1,361,638	$ (839,896)	$ (6,905)	$ 91,748

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
OPERATING ACTIVITIES:
Net Income		$ 55,048	$ 131,659	$ 33,994
Adjustments to reconcile net income to net cash provided by operating activities:
Real estate depreciation and amortization expense		80,105	83,114	88,994
Gain on disposition of real property		(45,660)	(134,218)	(40,592)
Impairment loss on real estate property	[1]	2,677	8,124	9,500
Collection of accrued interest from debt investment		0	6,421	0
(Gain) loss on extinguishment of debt and financing commitments		(5,136)	1,168	63
Other adjustments to reconcile net income to net cash provided by operating activities		8,120	4,660	8,565
Changes in operating assets and liabilities		(4,858)	4,602	(13,295)
Net cash provided by operating activities		90,296	105,530	87,229
INVESTING ACTIVITIES:
Acquisition of real property		(65,861)	(319,577)	(125,509)
Capital expenditures in real property		(28,951)	(26,204)	(14,944)
Proceeds from disposition of real properties		208,604	359,817	105,322
Principal collections on debt-related investments		469	64,769	24,052
Other investing activities		8,269	(4,384)	(4,023)
Net cash provided by (used in) investing activities		122,530	74,421	(15,102)
FINANCING ACTIVITIES:
Mortgage note proceeds		84,045	70,626	0
Mortgage note principal repayments		(314,816)	(136,658)	(52,977)
Defeasance of mortgage note borrowings		0	(53,267)	0
Net proceeds from revolving line of credit borrowings		69,000	92,000	45,000
Net proceeds from term loan borrowings		124,411	80,000	0
Other secured borrowings repayments		0	(25,796)	(1,122)
Redemption of common shares		(212,878)	(225,720)	(81,990)
Distributions on common stock		(37,647)	(42,439)	(41,239)
Proceeds from sale of common stock		88,206	80,609	74,916
Offering costs for issuance of common stock		(5,417)	(4,602)	(4,568)
Distributions to noncontrolling interest holders		(6,641)	(4,591)	(9,501)
Redemption of OP Unit holder interests		(5,309)	(2,750)	(8,219)
Other financing activities		2,315	(6,055)	(2,744)
Net cash used in financing activities		(214,731)	(178,643)	(82,444)
NET INCREASE (DECREASE) IN CASH AND CASH EQUIVALENTS		(1,905)	1,308	(10,317)
CASH AND CASH EQUIVALENTS, beginning of period		15,769	14,461	24,778
CASH AND CASH EQUIVALENTS, end of period		13,864	15,769	14,461
Supplemental Disclosure of Cash Flow Information:
Cash paid for interest		38,161	45,321	58,330
Supplemental Disclosure of Noncash Investing and Financing Activities:
Assumed mortgage		0	11,869	0
Common stock issued pursuant to the distribution reinvestment plan		20,576	21,347	20,831
Issuances of OP Units for beneficial interests		0	7,324	0
Non-cash repayment of mortgage note and other secured borrowings	[2]	0	139,236	115,387
Non-cash disposition of real property	[2]	7,830	128,008	107,075
Non-cash origination of debt related investments	[2]	0	11,228	7,125
Non-cash investment in real property		$ 0	$ 11,869	$ 12,232
[1]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.
[2]	Represents the amount of sales proceeds and debt repayments from the disposition of real property or the repayment of borrowings that we did not receive or pay in cash, primarily due to the repayment or assumption of related borrowings by the purchaser or borrower at closing.

Organization

Organization	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization	ORGANIZATION Dividend Capital Diversified Property Fund Inc. is a Maryland corporation formed on April 11, 2005 to invest in a diverse portfolio of real property and real estate related investments. As used herein, “the Company,” “we,” “our” and “us” refer to Dividend Capital Diversified Property Fund Inc. and its consolidated subsidiaries and partnerships except where the context otherwise requires. We believe we have operated in such a manner as to qualify as a real estate investment trust (“REIT”) for federal income tax purposes, and we utilize an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) organizational structure to hold all or substantially all of our assets through our operating partnership, Dividend Capital Total Realty Operating Partnership, L.P. (our “Operating Partnership”). Furthermore, our Operating Partnership wholly owns a taxable REIT subsidiary, DCTRT Leasing Corp. (the “TRS”), through which we have executed certain business transactions that might otherwise have an adverse impact on our status as a REIT if such business transactions were to occur directly or indirectly through our Operating Partnership. We are the sole general partner of our Operating Partnership. In addition, we have contributed 100% of the proceeds received from our offerings of common stock to our Operating Partnership in exchange for partnership units (“OP Units”) representing our interest as a limited partner of the Operating Partnership. Dividend Capital Total Advisors LLC (our “Advisor”), a related party, manages our day-to-day activities under the terms and conditions of an advisory agreement (as amended from time to time, the “Advisory Agreement”). Our Advisor and its affiliates receive various forms of compensation, reimbursements and fees for services relating to the investment and management of our real estate assets. On July 12, 2012, the Securities and Exchange Commission (the “Commission”) declared effective our Registration Statement on Form S-11 (Registration Number 333-175989) (as amended, the “Prior Registration Statement”). The Prior Registration Statement applied to the offer and sale (the “Prior Offering”) of up to $3,000,000,000 of our shares of common stock, of which $2,250,000,000 of shares were expected to be offered to the public in a primary offering and $750,000,000 of shares were expected to be offered to our stockholders pursuant to an amended and restated distribution reinvestment plan (subject to our right to reallocate such amounts). In the Prior Offering, we offered to the public three classes of shares: Class A shares, Class W shares and Class I shares with net asset value (“NAV”) based pricing. See “Item 5. Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities” and Exhibit 99.1 of this Annual Report on Form 10-K for a description of our valuation procedures and valuation components, including important disclosure regarding real property valuations provided by Altus Group U.S., Inc., an independent valuation firm. Our independent registered public accounting firm does not audit our NAV. Selling commissions, dealer manager fees, and distribution fees are allocated to Class A shares, Class W shares, and Class I shares on a class-specific basis and differ for each class, even when the NAV of each class is the same. On September 15, 2015, we terminated the Prior Offering. Through September 15, 2015, the date our Prior Offering terminated, we had raised gross proceeds of approximately $183.0 million from the sale of approximately 25.8 million shares in the Prior Offering, including approximately $3.4 million through our distribution reinvestment plan. On September 16, 2015, the Commission declared effective our Registration Statement on Form S-11 (Registration Number 333-197767) (the “Follow-On Registration Statement”). The Follow-On Registration Statement applies to the Company’s follow-on “best efforts” offering of up to $1,000,000,000 of the Company’s Class A, Class I and Class W shares of common stock, of which $750,000,000 of shares are expected to be offered to the public in a primary offering and $250,000,000 of shares are expected to be offered to stockholders of the Company pursuant to its distribution reinvestment plan (subject to the Company’s right to reallocate such amounts) (the “Follow-On Offering”). As of December 31, 2016 , we had raised gross proceeds of approximately $110.0 million from the sale of approximately 14.8 million shares in the Follow-On Offering. As of December 31, 2016 , we had raised aggregate gross proceeds of approximately $293.0 million from the sale of approximately 40.6 million shares, including approximately $10.4 million raised through our distribution reinvestment plan. As of December 31, 2016 , approximately $890.0 million in shares remained available for sale pursuant to the Follow-on Offering, including approximately $243.1 million in shares available for sale through our distribution reinvestment plan. We are offering to sell any combination of Class A shares, Class W shares and Class I shares with a dollar value up to the maximum offering amount pursuant to the Follow-On Offering. We also sell shares of our unclassified common stock, which we refer to as “Class E” shares, pursuant to our distribution reinvestment plan offering registered on our Registration Statement on Form S-3 (Registration Number 333-162636). In the event of a liquidation event, such assets, or the proceeds therefrom, will be distributed ratably in proportion to the respective NAV for each class until the NAV for each class has been paid. Other than differing allocable fees and liquidation rights, Class E shares, Class A shares, Class W shares, and Class I shares have identical rights and privileges.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation Due to our control of our Operating Partnership through our sole general partnership interest and the limited rights of the limited partners, we consolidate our Operating Partnership, and limited partner interests not held by us are reflected as noncontrolling interests in the accompanying consolidated financial statements (herein referred to as “financial statements”). All significant intercompany accounts and transactions have been eliminated in consolidation. Our financial statements also include the accounts of our consolidated subsidiaries and joint ventures through which we are the primary beneficiary, when such subsidiaries and joint ventures are variable interest entities, or through which we have a controlling interest. In determining whether we have a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity in which we have the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses that could potentially be significant to the entity or the right to receive benefits that could potentially be significant to the entity. Our Operating Partnership qualifies as a variable interest entity for accounting purposes and substantially all of the assets of the Company are held by our Operating Partnership, which, subject to certain Operating Partnership and subsidiary level financing restrictions, can be used to settle its obligations. Creditors of certain liabilities of our Operating Partnership have recourse to the Company. All joint ventures in which we have investments are variable interest entities. All of our investments in joint ventures represent our interests in real estate partnerships, formed for the purpose of acquiring, leasing, managing, holding for investment, selling and otherwise dealing with real property investments. Our involvement with our joint ventures affects our financial position, financial performance and cash flows in ways similar to direct ownership of real property investment. We own a significantly disproportionate majority of the ownership interests of our joint ventures. In each of our joint ventures, our joint venture partner performs the day-to-day management of the real properties owned by the respective joint ventures. However, in each of our joint ventures, we approve the activities that most significantly impact the joint venture’s economic performance. Due to our substantive approval rights and our exposure to the economic returns and losses of each of the joint ventures, we are the primary beneficiary of each of our joint ventures. Based on these considerations, we consolidate all of our investments in joint ventures. The accompanying consolidated balance sheets include approximately $48.2 million and $76.9 million , after accumulated depreciation and amortization, in consolidated real property variable interest entity investments as of December 31, 2016 and 2015 , respectively. The accompanying consolidated balance sheets include approximately $50.1 million in consolidated mortgage notes in variable interest entity investments as of December 31, 2015 . There were no mortgage notes related to variable interest entities as of December 31, 2016 . Judgments made by us with respect to our level of influence or control of an entity and whether we are the primary beneficiary of a variable interest entity involve consideration of various factors, including the form of our ownership interest, the size of our investment (including loans), our ability to direct the activities of the entity, and our obligation to absorb the losses of, or, our right to receive benefits from the entity. Our ability to correctly assess our influence or control over an entity affects the presentation of these investments in our financial statements and, consequently, our financial position and specific items in our results of operations that are used by our stockholders, lenders and others in their evaluation of us. The maximum risk of loss related to our investment in these consolidated variable interest entities is limited to our recorded investments in such entities. The creditors of the consolidated variable interest entities do not have recourse to our general credit. Generally, we consolidate real estate partnerships and other entities that are not variable interest entities when we own, directly or indirectly, a majority voting interest in the entity. Reclassifications Certain previously reported amounts have been reclassified to conform to the current period financial statement presentation. In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2015-03 (“ASU 2015-03”), which requires 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 debt liability. The guidance is effective for all reporting periods beginning after December 15, 2015 and requires retrospective application. As a result of adopting this guidance, we reclassified approximately $5.1 million and $1.2 million of net debt issuance costs to “unsecured borrowings” and “mortgage notes”, respectively, in the accompanying consolidated balance sheet as of December 31, 2015. We recorded approximately $4.4 million and $1.8 million of net debt issuance costs into “unsecured borrowings” and “mortgage notes”, respectively, in the accompanying consolidated balance sheet as of December 31, 2016 . Investments Real Property Costs associated with the acquisition of real property, including acquisition fees paid to our Advisor, are expensed as incurred. In addition, we estimate the fair value of contingent consideration and contingencies related to acquisitions of real property in determining the total cost of the property acquired. Subsequent changes in the fair value of such contingent consideration are recorded either as a gain or loss in our consolidated statements of income. Contingencies are subsequently adjusted through the consolidated statements of income when new information becomes available indicating that settlement of a contingent liability is probable and can be estimated at an amount greater than the acquisition date fair value, or the contingency is resolved, in which case the contingent asset or liability is derecognized. Costs associated with the development and improvement of our real property assets are capitalized as incurred. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. During the land development and construction periods, we capitalize interest costs, insurance, real estate taxes and certain general and administrative costs if such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. The results of operations for acquired real property are included in our accompanying statements of income from their respective acquisition dates. Upon acquisition, the total cost of a property is allocated to land, building, building and land improvements, tenant improvements and intangible lease assets and liabilities. The purchase price allocation of the total cost to land, building, building improvements, tenant improvements, intangible lease assets and intangible lease liabilities is based on our estimate of the property’s as-if vacant fair value. The as-if vacant fair value is calculated by using all available information such as the replacement cost of such asset, appraisals, property condition reports, market data and other related information. The difference between the fair value and the face value of debt assumed in an acquisition is recorded as an adjustment to the purchase price allocation. The allocation of the total cost of a property to an intangible lease asset includes the value associated with the in-place leases, which may include lost rent, leasing commissions, tenant improvements, legal and other costs. We record acquired “above-market” and “below-market” leases at their fair value equal to the difference between the contractual amounts to be paid pursuant to each in-place lease and our estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the remaining term of the lease plus the term of any below-market fixed-rate renewal option periods for below-market leases. In addition, we allocate a portion of the purchase price of an acquired property to the estimated value of customer relationships, if any. As of December 31, 2016 , we had not recognized any estimated value to customer relationships. The following table summarizes the amounts that we have incurred in amortization expense for intangible lease assets and adjustments to rental revenue for above-market lease assets and below-market lease liabilities for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Above-market lease assets $ (5,515 ) $ (5,216 ) $ (6,708 ) Below-market lease liabilities 6,050 6,029 7,324 Net increase to rental revenue $ 535 $ 813 $ 616 Intangible lease asset amortization $ (40,797 ) $ (44,260 ) $ (48,937 ) We expense any unamortized intangible lease asset or record an adjustment to rental revenue for any unamortized above-market lease asset or below-market lease liability when a tenant terminates a lease before the stated lease expiration date. During the year ended December 31, 2016 , we recorded $1.7 million related to write-offs of unamortized intangible lease assets and liabilities due to early lease terminations. We recorded an insignificant amount of adjustments related to write-offs of unamortized intangible lease assets and liabilities due to early lease terminations during the years ended December 31, 2015 and 2014 . Real property assets, including land, building, building and land improvements, tenant improvements, lease commissions, and intangible lease assets and liabilities are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over their estimated useful lives as described in the following table. Description Depreciable Life Land Not depreciated Building 40 years Building and land improvements 10-40 years Tenant improvements Lesser of useful life or lease term Lease commissions Over lease term Intangible in-place lease assets Over lease term Above-market lease assets Over lease term Below-market lease liabilities Over lease term, including below-market fixed-rate renewal options The following table presents expected amortization during the next five years and thereafter related to the acquired above-market lease assets, below-market lease liabilities and acquired in-place lease intangibles, for properties owned as of December 31, 2016 (amounts in thousands). For the Year Ended December 31, 2017 2018 2019 2020 2021 Thereafter Total Acquired above-market lease assets $ (2,379 ) $ (727 ) $ (633 ) $ (213 ) $ (201 ) $ (456 ) $ (4,609 ) Acquired below-market lease liabilities 5,307 4,695 3,977 3,272 2,847 39,447 59,545 Net rental revenue increase $ 2,928 $ 3,968 $ 3,344 $ 3,059 $ 2,646 $ 38,991 $ 54,936 Acquired in-place lease intangibles $ 27,158 $ 16,909 $ 11,863 $ 6,898 $ 5,412 $ 15,572 $ 83,812 Discontinued Operations and Held for Sale Beginning with the year ended December 31, 2014, a discontinued operation is defined as a component (or group of components) of the entity, the disposal of which would represent a strategic shift that has (or will have) a major effect on the entity’s operations and financial results, when such a component (or group of components) has been disposed of or classified as held for sale. Interest expense is included in discontinued operations only if it is directly attributable to these operations or properties. The results of operations of properties that have been classified as discontinued operations are reported as discontinued operations for all periods presented. We classify real property as held for sale when our management commits to a plan to sell the property, the plan has appropriate approvals, the sale of the property is probable, and certain other criteria are met. At such time, the respective assets and liabilities are presented separately on our balance sheets and depreciation is no longer recognized. Assets held for sale are reported at the lower of their carrying amount or their estimated fair value less the costs to sell the assets. We recognize an impairment loss for assets held for sale if the current net book value of the property exceeds its fair value less selling costs. As of December 31, 2014, one of our properties was classified as held for sale. Debt-Related Investments Debt-related investments are considered to be held for investment, as we have both the intent and ability to hold these investments until maturity. Accordingly, these assets are carried at cost, net of unamortized loan origination costs and fees, discounts, repayments and unfunded commitments unless such loans or investments are deemed to be impaired. Revenue Recognition Revenue Recognition — Real Property We record rental revenue for the full term of each lease on a straight-line basis. Certain properties have leases that offer the tenant a period of time where no rent is due or where rent payments increase during the term of the lease. Accordingly, we record a receivable from tenants for rent that we expect to collect over the remaining lease term rather than currently, which is recorded as straight-line rents receivable. When we acquire a property, the term of existing leases is considered to commence as of the acquisition date for purposes of this calculation. Tenant recovery income includes payments from tenants for real estate taxes, insurance and other property operating expenses and is recognized as rental revenue. The following table summarizes straight-line rental adjustments and tenant recovery income received from tenants for real estate taxes, insurance and other property operating expenses and recognized as rental revenue for the years ended December 31, 2016 , 2015 , and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Straight-line rent adjustments $ (1,263 ) $ (976 ) $ 3,037 Tenant recovery income (1) $ 41,707 $ 37,526 $ 31,092 _______________________________ (1) Tenant recovery income excludes real estate taxes that were paid directly by our tenants that are subject to triple net lease contracts. Such payments totaled approximately $4.3 million , $7.0 million and $12.4 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively. Impairment Impairment — Real Property We review our investments in real property individually on a quarterly basis, and more frequently when such an evaluation is warranted, to determine their appropriate classification, as well as whether there are indicators of impairment. The investments in real property are either classified as held and used or held for sale. As of December 31, 2016 , all of our properties were classified as held and used. The held and used assets are reviewed for indicators of impairment, which may include, among others, vacancy, each tenant’s inability to make rent payments, operating losses or negative operating trends at the property level, notification by a tenant that it will not renew its lease, a decision to dispose of a property, including a change in estimated holding periods, or adverse changes in the fair value of any of our properties. If indicators of impairment exist on a held and used asset, we compare the future estimated undiscounted cash flows from the expected use of the property to its net book value to determine if impairment exists. If the sum of the future estimated undiscounted cash flows is greater than the current net book value, we conclude no impairment exists. If the sum of the future estimated undiscounted cash flows is less than its current net book value, we recognize an impairment loss for the difference between the net book value of the property and its estimated fair value . If a property is classified as held for sale, we recognize an impairment loss if the current net book value of the property exceeds its fair value less selling costs. If our assumptions, projections or estimates regarding a property change in the future, we may have to record an impairment charge to reduce or further reduce the net book value of the property. See Note 3 for a discussion of impairment charges relating to our real properties recorded during the years ended December 31, 2016 , 2015 , and 2014 . Impairment — Debt-Related Investments We review our debt-related investments on a quarterly basis, and more frequently when such an evaluation is warranted, to determine if impairment exists. Accordingly, we do not group our debt-related investments into classes by credit quality indicator. A debt-related investment is impaired when, based on current information and events (including economic, industry and geographical factors), it is probable that we will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the agreement. When an investment is deemed impaired, the impairment is measured based on the expected future cash flows discounted at the investment’s effective interest rate. As a practical expedient, the FASB issued ASC Topic 310, Receivables , which permits a creditor to measure impairment based on the fair value of the collateral of an impaired collateral-dependent debt-related investment or to measure impairment based on an observable market price for the impaired debt-related investment as an alternative to discounting expected future cash flows. Regardless of the measurement method, a creditor should measure impairment based on the fair value of the collateral when the creditor determines that foreclosure is probable. A debt-related investment is also considered impaired if its terms are modified in a troubled debt restructuring (“TDR”). A TDR occurs when we grant a concession to a borrower in financial difficulty by modifying the original terms of the loan. Impairments on TDR loans are generally measured based on the present value of expected future cash flows discounted at the effective interest rate of the original loan. See Note 4 for a discussion of impairment charges relating to our debt-related investments recorded during the years ended December 31, 2016 , 2015 , and 2014 . Derivative Instruments and Hedging Activities We record all derivative instruments in the accompanying balance sheets at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. Derivative instruments used to hedge exposure to changes in the fair value of an asset, liability, or firm commitments attributable to a particular risk, such as interest rate risk, are considered “fair value” hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, such as future interest payments, or other types of forecasted transactions, are considered “cash flow” hedges. We do not have any fair value hedges. For derivative instruments designated as cash flow hedges, the changes in the fair value of the derivative instrument that represent changes in expected future cash flows, which are effectively hedged by the derivative instrument, are initially reported as other comprehensive income (loss) in the statement of equity until the derivative instrument is settled. Upon settlement, the effective portion of the hedge is recognized as other comprehensive income (loss) and amortized over the term of the designated cash flow or transaction the derivative instrument was intended to hedge. The change in value of any derivative instrument that is deemed to be ineffective is charged directly to earnings when the determination of hedge ineffectiveness is made. We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows of the derivative instrument with the changes in fair value or cash flows of the designated hedged item or transaction. For purposes of determining hedge ineffectiveness, management estimates the timing and potential amount of future fixed-rate debt issuances each quarter in order to estimate the cash flows of the designated hedged item or transaction. Management considers the likelihood of the timing and amount of entering into such forecasted transactions when determining the expected future fixed-rate debt issuances. We do not use derivative instruments for trading or speculative purposes. We classify cash paid to settle our forward starting swaps as financing activities in our statements of cash flows. Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments with original maturities of three months or less such as money market mutual funds or certificates of deposits. As of both December 31, 2016 and 2015 , we have not realized any losses in such cash accounts or investments and believe that we are not exposed to any significant credit risk. Restricted Cash Restricted cash consists primarily of lender and property-related escrow accounts. As of both December 31, 2016 and 2015 , we had not realized any losses in such restricted cash accounts or investments related to, and believe that we are not exposed to, any significant credit risk. Collectability of Receivables We evaluate the collectability of our rent and other receivables on a regular basis based on factors including, among others, the age of the receivable, payment history, the financial strength of the tenant or borrower and any guarantors. Specifically with regards to our debt-related investments, we evaluate the collectability of our receivables based on factors including, among others, the value of the underlying collateral, the operations and operating trends of the underlying collateral, if any, the asset type and current economic conditions. If our evaluation of these factors indicates we may not recover the full amount of the receivable, we provide a reserve against the portion of the receivable that we estimate may not be recovered. This analysis requires us to determine whether there are factors indicating a receivable may not be fully collectible and to estimate the amount of the receivable that may not be collected. As of December 31, 2016 and 2015 , we had rent and other receivables of approximately $29.9 million and $34.1 million included in the caption other assets in our accompanying balance sheets, respectively, related to which we recorded allowances of approximately $1.0 million and $628,000 included in the caption "other assets, net" respectively. If our assumptions or estimates regarding the collectability of a receivable change in the future, we may have to record allowances to reduce or further reduce the carrying value of the receivable. Accumulated Other Comprehensive Loss Accumulated other comprehensive loss as reported in the accompanying consolidated statements of equity as of December 31, 2016 primarily consists of the cumulative loss related to our derivatives of $5.9 million , before attribution to noncontrolling interests of $1.2 million , and cumulative gain related to our real estate securities of approximately $1.1 million , before attribution of a cumulative loss to noncontrolling interests of $1.3 million . Basic and Diluted Net Income (Loss) per Common Share Basic net income (loss) per common share is determined by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share includes the effects of potentially issuable common stock, but only if dilutive, including the presumed exchange of OP Units. Stock-Based Compensation Independent Director RSU Awards On December 5, 2013, our board of directors approved revised compensation for our independent directors. In connection with the revised compensation plan, at each annual meeting of stockholders the independent directors will automatically, upon election, receive an award of restricted stock units (“RSUs”) with respect to Class I shares of our common stock, with the number of RSUs based on the NAV per Class I share as of the end of the day of the annual meeting. RSUs granted under this plan are measured at fair value on the grant date and amortized to compensation expense on a straight-line basis over the service period after which the awards fully vest. Such expense is included in “general and administrative expenses” in the accompanying consolidated statements of income. The fair value of these awards is measured at our NAV per share. RSUs awarded to our independent directors vest no later than one year from the date of grant. Advisor RSU Agreements We have entered into Restricted Stock Unit Agreements (the “Advisor RSU Agreements”) with our Advisor. The purposes of the Advisor RSU Agreements are to promote an alignment of interests among our stockholders, our Advisor and the personnel of our Advisor and its affiliates, and to promote retention of the personnel of our Advisor and its affiliates. Each restricted stock unit granted pursuant to the Advisor RSU Agreements (the “Company RSU”) will, upon vesting, entitle our Advisor to one Class I share of our common stock. The Advisor is expected to redistribute a significant portion of the Company RSUs and/or shares to senior level employees of our Advisor and its affiliates that provide services to us, although the terms of such redistributions (including the timing, amount and recipients) remain solely in the discretion of our Advisor. The Company RSUs are subject to specified vesting and settlement provisions and, upon settlement in Class I shares of Company common stock, require offsets of advisory fees and expenses otherwise payable from the Company to our Advisor. Each offset amount equals the number of Company RSUs vesting on such date multiplied by the NAV per Class I share publicly disclosed by us as of the end of the grant date. Each offset amount is always calculated based on the grant date NAV per Class I share, even beyond the initial vesting date. At the end of each 12 -month period following each vesting date, if the offset amount has not been fully realized by offsets from the cash payments otherwise due and payable to our Advisor under the Advisory Agreement, our Advisor shall promptly pay any shortfall to us. If our board of directors declares and we pay a cash dividend on Class I shares for any period in which the Company RSUs are outstanding (regardless of whether such Company RSUs are then vested), our Advisor will be entitled to dividend equivalents (“Dividend Equivalents”) with respect to that cash dividend equal to the cash dividends that would have been payable on the same number of Class I shares as the number of Company RSUs subject to the Advisor RSU Agreements had such Class I shares been outstanding during the same portion of such period as the Company RSUs were outstanding. Any such Dividend Equivalents may be paid in cash or Class I shares, at our Advisor’s election. Accordingly, we classify Company RSUs as participating securities because participants receive dividends on unvested shares. Restricted Stock Grants We granted restricted shares of Class I common stock, respectively, to certain employees of our Advisor and its affiliates, none of which are our named executive officers. Restricted stock grants are measured at fair value during the service period and recorded to compensation expense over the service period after which the grants fully vest. Such expense is included in “general and administrative expenses” in the accompanying consolidated statements of income. The fair value of these awards is measured at our NAV per share as of the date the shares vest. Dealer Manager and Distribution Fees Dividend Capital Securities LLC, which we refer to as our “Dealer Manager,” distributes the shares of our common stock in our public offering on a “best efforts” basis. Our Dealer Manager coordinates our distribution effort and manages our relationships with participating broker-dealers and financial advisors and provides assistance in connection with compliance matters relating to marketing our public offering. Among other fees, we pay our Dealer Manager (i) a dealer manager fee which accrues daily in an amount equal to 1/365th of 0.6% of our NAV per share of Class A and Class W shares outstanding and an amount equal to 1/365th of 0.1% of our NAV per share of Class I shares outstanding on such day on a continuous basis, and (ii) a distribution fee which accrues daily in an amount equal to 1/365th of 0.5% of our NAV per share of Class A shares outstanding on such day on a continuous basis. We cease paying the dealer manager fee and distribution fee with respect to shares sold in the offering on the earlier to occur of the following: (i) a listing of the class of such shares on a national securities exchange, (ii) following the completion of an offering, total underwriting compensation in the offering equaling 10% of the gross proceeds from the primary portion of the respective offering, or (iii) such shares no longer being outstanding. We account for these dealer manager and distribution fees as a reduction in proceeds received from the sale of common stock. We record a liability for dealer manager and distribution fees that we estimate that we may pay our Dealer Manager in future periods for shares of our common stock sold pursuant to the Prior Offering and Follow-On Offering with a corresponding reduction in proceeds received from the sale of common stock. The payment of dealer manager and distribution fees may extend several years after the sale of the related shares of common stock. Accordingly, as of December 31, 2016 , we recorded a liability for estimated future dealer manager and distribution fees of approximately $3.9 million . This liability included an immaterial amount related to shares issued prior to December 31, 2015. See Note 11 for further discussion of dealer manager and distribution fees. Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the periods they are determined to be necessary. New Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update 2017-01 ("ASU 2017-01"), which clarifies the definition of a business in order to provide additional guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Earlier adoption is permitted. The guidance in ASU 2017-01 should be adopted on a prospective basis. We adopted ASU 2017-01 as of January 1, 2017 and anticipate that future acquisitions of real property will likely be accounted for as asset acquisitions rather than business combinations. Among other things, accounting for an asset acquisition requires capitalization of acquisition costs as a component of the acquired assets whereas accounting for business combinations requires acquisition costs to be expensed. For the years ended December 31, 2016 , 2015 and 2014 , we expensed $667,000 , $2.6 million and $1.2 million of acquisition costs, respectively, under accounting for business combinations. Additionally, goodwill is not recognized and contingent consideration is recorded when probable and reasonably estimable u

Investments in Real Property

Investments in Real Property	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Investments in Real Property	INVESTMENTS IN REAL PROPERTY Currently, our consolidated investments in real property consist of investments in office, industrial and retail properties. The following tables summarize our consolidated investments in real property as of December 31, 2016 and 2015 (amounts in thousands): Real Property Land Building and Improvements Intangible Lease Assets Total Investment Amount Intangible Lease Liabilities Net Investment Amount As of December 31, 2016: Office $ 171,176 $ 701,859 $ 236,143 $ 1,109,178 $ (15,121 ) $ 1,094,057 Industrial 8,821 63,999 16,308 89,128 (344 ) 88,784 Retail 293,973 599,020 113,023 1,006,016 (75,515 ) 930,501 Total gross book value 473,970 1,364,878 365,474 2,204,322 (90,980 ) 2,113,342 Accumulated depreciation/amortization — (215,858 ) (277,053 ) (492,911 ) 31,435 (461,476 ) Total net book value $ 473,970 $ 1,149,020 $ 88,421 $ 1,711,411 $ (59,545 ) $ 1,651,866 As of December 31, 2015: Office $ 203,889 $ 833,655 $ 310,629 $ 1,348,173 $ (18,923 ) $ 1,329,250 Industrial 9,572 65,307 16,436 91,315 (344 ) 90,971 Retail 260,761 570,700 109,225 940,686 (74,282 ) 866,404 Total gross book value 474,222 1,469,662 436,290 2,380,174 (93,549 ) 2,286,625 Accumulated depreciation/amortization — (208,281 ) (297,676 ) (505,957 ) 29,675 (476,282 ) Total net book value $ 474,222 $ 1,261,381 $ 138,614 $ 1,874,217 $ (63,874 ) $ 1,810,343 Acquisitions The following table summarizes our acquisition of real property during the year ended December 31, 2016 (dollar amounts and square footage in thousands): Real Property Property Market Date of Acquisition Acquired Contract Net Rentable Percent Leased at Acquisition Suniland Shopping Center Retail South Florida 5/27/2016 100% $ 66,500 82 93.2 % The following table summarizes the allocations of the fair value of the real property we acquired during the year ended December 31, 2016 to land, building and improvements, intangible lease assets, intangible lease liabilities, and mark-to-market adjustment on assumed debt (dollar amounts in thousands). We have not made any material adjustments related to these allocations. Weighted-Average Amortization Period (Years) Real Property Land Building and Improvements Intangible Lease Assets Intangible Lease Liabilities Total Fair Value Prorations and Credits Contract Price Intangible Lease Assets Intangible Lease Liabilities Suniland Shopping Center $ 34,804 $ 28,022 $ 5,880 $ (2,113 ) $ 66,593 $ (93 ) $ 66,500 5.8 10.4 Dispositions During 2016 , 2015 and 2014 we disposed of the following properties (dollar amounts and square footage in thousands): Property Type Market Ownership Net Rentable Square Feet Percentage Leased Disposition Date Contract Sales Price Gain (loss) on Sale 2016 Dispositions: Office Washington, DC 100 % 574 100 % 2/18/2016 $ 158,400 $ 41,241 Office Chicago, IL 80 % 107 66 % 3/1/2016 9,850 — Office Chicago, IL 80 % 199 81 % 3/1/2016 18,000 159 Retail Greater Boston 100 % 39 100 % 8/5/2016 3,625 975 Industrial Louisville, KY 90 % 126 33 % 9/2/2016 5,400 1,120 Office Washington, DC 100 % 178 — % 9/30/2016 18,600 — Retail (1) Greater Boston 100 % 13 100 % 11/18/2016 6,200 2,165 Total 2016 real property dispositions 1,236 73 % $ 220,075 $ 45,660 2015 Dispositions: Retail Greater Boston 100 % 11 100 % 12/18/2015 $ 1,625 $ 14 Office Silicon Valley, CA 100 % 53 100 % 12/14/2015 16,750 970 Land Parcel Denver, CO 100 % N/A N/A 8/12/2015 7,577 1,701 Office Los Angeles, CA 100 % 111 — % 7/20/2015 12,549 2,866 Retail Pittsburgh, PA 100 % 103 93 % 5/5/2015 12,500 — Office and Industrial (2) Various (2) 100 % 2,669 100 % 3/11/2015 398,635 105,542 Office Dallas, TX 100 % 177 88 % 1/16/2015 46,600 23,125 Total 2015 real property dispositions 3,124 95 % $ 496,236 $ 134,218 2014 Dispositions: Office Denver, CO 100 % 138 100 % 11/7/2014 $ 9,100 $ 4,032 Industrial (3) Silicon Valley, CA 100 % 177 41 % 10/15/2014 13,579 — Office East Bay, CA 100 % 60 0 % 6/13/2014 5,700 2,755 Land Parcel Denver, CO 100 % N/A N/A 4/14/2014 780 93 Office Little Rock, AR 100 % 102 100 % 2/25/2014 19,550 1,350 Retail Greater Boston 100 % 110 0 % 2/18/2014 6,750 2,276 Industrial Portfolio Various (4) 93 % 3,387 99 % 1/22/2014 175,000 29,545 Total 2014 real property dispositions 3,974 93 % $ 230,459 $ 40,051 _______________________________ (1) Disposed property was a single building from a multi-building grocery-anchored retail property. We continue to operate the remaining portion of the property. (2) The Portfolio includes (i) six office properties comprising 1.1 million net rentable square feet located in the following markets: Los Angeles, CA ( three properties, of which one disposed property was a single building from a two -building office property), Northern New Jersey, Miami, FL, and Dallas, TX, and (ii) six industrial properties comprising 1.6 million net rentable square feet located in the following markets: Los Angeles, CA, Dallas, TX, Cleveland, OH, Chicago, IL, Houston, TX, and Denver, CO. We incurred closing costs and fees of approximately $7.8 million upon the closing of this transaction, including approximately $4.0 million in advisory fees related to the disposition of real property paid to our Advisor. For the years ended December 31, 2015 and 2014 , our consolidated statements of income include approximately $6.2 million and $33.7 million of aggregate revenue attributable to the Portfolio, respectively. (3) On October 15, 2014, we disposed of a wholly owned industrial property comprising approximately 177,000 net rentable square feet in three buildings located in the Silicon Valley, CA market (“Lundy”). At the time of the disposition, the property had a net investment amount of approximately $13.1 million . The property was transferred to the lender through a foreclosure sale which extinguished amounts due, including related principal of $13.6 million . (4) Industrial portfolio included 12 properties located in the following markets: Atlanta, GA, Central Pennsylvania, Cincinnati, OH, Columbus, OH, Dallas, TX, Indianapolis, IN, and Minneapolis/St. Paul, MN. Discontinued Operations We present the results of operations and the respective aggregate net gains (losses) of any property or group of properties, the disposal of which would represent a strategic shift that has (or will have) a major effect on our operations and financial results, when such property (or group of properties) have been disposed of or classified as held for sale, as discontinued operations in our accompanying statements of income. We did not have any discontinued operations for the years ended December 31, 2016 and 2015 . Discontinued operations for the year ended December 31, 2014 include the results of operations and net gain on the disposition of 12 industrial properties classified as held for sale as of December 31, 2013. The following table summarizes amounts recorded as discontinued operations for the years ended December 31, 2014 (amounts in thousands): For the Year Ended December 31, 2014 Revenues $ 969 Rental expense (340 ) Real estate depreciation and amortization expense — Interest expense (296 ) Other expenses (8 ) Income from discontinued operations 325 Gain on disposition 29,679 Discontinued operations 30,004 Discontinued operations attributable to noncontrolling interests (4,462 ) Discontinued operations attributable to common stockholders $ 25,542 Real Property Impairment During the year ended December 31, 2016, we recorded a $2.1 million impairment charge related to a consolidated office property located in the Washington, DC market, which we acquired in June 2010 ("Sunset Hills"). We sold Sunset Hills in September 2016. Prior to the disposition, the net book value of Sunset Hills exceeded the contract sales price less the cost to sell by $2.1 million . Accordingly, we recorded an impairment charge to reduce the net book value of Sunset Hills to our estimate of its fair value less the cost to sell. Additionally, we recorded a $587,000 impairment charge related to a consolidated office property located in the Chicago, IL market ("40 Boulevard"), which we acquired in January 2007 and we held through a joint venture in which we were not the managing partner. We held an 80% ownership interest in 40 Boulevard. We sold 40 Boulevard in March 2016. Prior to the disposition, the net book value of 40 Boulevard exceeded the contract sales price less the cost to sell by approximately $587,000 . Accordingly, we recorded an impairment charge to reduce the net book value of 40 Boulevard to our estimate of its fair value less the cost to sell. The fair value measurements for the impairment charges related to Sunset Hills and 40 Boulevard were based on the contract sales price less selling costs. The fair value used in determining impairment for Sunset Hills and 40 Boulevard was $18.6 million and $9.9 million , respectively as of December 31, 2016.We considered the Level 3 inputs used in determining the fair value of these real property investments to be significant. As such, these investments fall under the Level 3 category of the fair value hierarchy as defined in ASC Topic 820, Fair Value Measurements and Disclosures ("ASC Topic 820"). The key assumption used in determining the fair value of these properties was our expectation of the sales price of the properties. Our expectation of the sales price was developed based on the valuations provided by a third-party broker quote. During the year ended December 31, 2015, we recorded a $6.5 million impairment charge related to a consolidated office property located in the Chicago, IL market ("Washington Commons"), which we acquired in February 2007 and we held through a joint venture in which we are not the managing partner. We held an 80% ownership interest in Washington Commons. We recorded an impairment charge to reduce the net book value of Washington Commons to our estimate of its fair value less the cost to sell. The impairment charge was based on a reduction of our estimated holding period for Washington Commons, triggering impairment recognition with the related fair value measurement based on our estimate of future cash flows from the operation and disposition of Washington Commons. The fair value used in determining impairment for Washington Commons was $17.0 million as of December 31, 2015. We considered the Level 3 inputs used in determining the fair value of this real property investment to be significant. As such, this investment falls under the Level 3 category of the fair value hierarchy. The key assumption used in determining the fair value of Washington Commons was our expectation of the sales price of the property. Our expectation of the sales price was developed based on the valuation provided by a third-party broker quote. In addition, during the year ended December 31, 2015, we recorded approximately $1.6 million of impairment charges related to a wholly owned retail property that we acquired in May 2007 in the Pittsburgh, PA market, which was disposed of in May 2015 (“Mt. Nebo”). Accordingly, we recorded an impairment charge to reduce the net book value of Mt. Nebo to our estimate of its fair value less the cost to sell. The fair value measurement was based on the contract sales price less selling costs. The fair value used in determining impairment for Mt. Nebo was $12.5 million as of December 31, 2015. We considered the Level 3 inputs used in determining the fair value of this real property investment to be significant. As such, this investment falls under the Level 3 category of the fair value hierarchy. The key assumption used in determining the fair value of Mt. Nebo was our expectation of the sales price of the property. Our expectation of the sales price was developed based on the valuation provided by a third-party broker quote. During the year ended December 31, 2014, we recorded a $9.5 million impairment related to Mt. Nebo. During the year ended December 31, 2014, we began to consider possible disposition opportunities for this property. Such disposition opportunities caused us to significantly reduce our estimated holding period for this property. As a result of our review and based on our estimate of future cash flow and fair value of the retail property, we recognized the impairment charge to adjust the carrying value to our estimate of fair value as of December 31, 2014. In the calculation of our daily NAV, our real estate assets are carried at fair value using valuation methodologies consistent with ASC Topic 820. As a result, the timing of valuation changes recorded in our NAV will not necessarily be the same as for impairment charges recorded to our consolidated financial statements prepared pursuant to GAAP. Since we determine our NAV daily, impairment charges pursuant to GAAP will likely always be delayed and potentially significantly delayed compared to the change in fair value of our properties included in the calculation of our daily NAV. Future Minimum Rentals Future minimum rentals to be received under non-cancelable operating and ground leases in effect as of December 31, 2016 , are as follows (amounts in thousands): For the Year Ended December 31, Future Minimum Rentals 2017 $ 144,932 2018 128,008 2019 116,595 2020 85,928 2021 68,617 Thereafter 214,531 Total $ 758,611 The table above does not reflect future rental revenues from the potential renewal or replacement of existing and future leases and excludes property operating expense reimbursements and rental revenue beyond a penalty free termination option. Concentration of Credit Risk Concentration of credit risk with respect to our sources of revenue exists due to a number of tenants whose rental payments to us make up a relatively high percentage of our rental revenue. Rental revenue from our lease with Charles Schwab & Co., Inc., as master tenant of one of our office properties, represented approximately $25.4 million , or 11.8% , of our total revenue from continuing operations for the year ended December 31, 2016 . The following is a summary of amounts related to the top five tenants based on annualized base rent, as of December 31, 2016 (dollar amounts and square feet in thousands): Tenant Locations Industry Annualized Base Rent (1) % of Total Annualized Base Rent Square Feet % of Total Portfolio Square Feet Charles Schwab & Co., Inc. (2) 2 Securities, Commodities, Fin. Inv./Rel. Activities $ 23,645 13.9 % 602 7.4 % Sybase (3) 1 Publishing Information (except Internet) 18,692 11.0 % 405 5.0 % Stop & Shop 14 Food and Beverage Stores 14,125 8.3 % 853 10.4 % Novo Nordisk 1 Chemical Manufacturing 4,627 2.7 % 167 2.0 % Seton Health Care 1 Hospitals 4,339 2.6 % 156 1.9 % 19 $ 65,428 38.5 % 2,183 26.7 % _______________________________ (1) Annualized base rent represents the annualized monthly base rent of executed leases as of December 31, 2016 . (2) The amount presented for Schwab reflects the total annualized base rent for our two leases in place with Schwab as of December 31, 2016 . One of these leases, which expires in September 2017, entails the lease of all 594,000 square feet of our 3 Second Street (formerly known as Harborside) office property and accounts for $23.5 million or 13.8% of our annualized base rent as of December 31, 2016 . We do not expect Schwab to renew this lease. Schwab has subleased 100% of 3 Second Street to 27 sub-tenants through September 2017. We have executed leases directly with nine of these subtenants that comprise 352,000 square feet or 59% of 3 Second Street that effectively extend their leases beyond the Schwab lease expiration. These direct leases will expire between September 2020 and September 2032. (3) The Sybase lease was terminated on January 31, 2017. The top two tenants in the table above comprise 24.9% of annualized base rent as of December 31, 2016 . However, due to the expiration of the Sybase lease and the near-term expiration of the Schwab lease at 3 Second Street, these two tenants are no longer in the top three tenants based on future minimum rental revenue, together comprising less than 3% of our total future minimum rental revenue as of December 31, 2016 . Alternatively, based on future minimum rental revenue as of December 31, 2016 , our top five tenants rank as follows: 1) Stop & Shop, 2) Mizuho Bank Ltd., 3) Shaw's Supermarket, 4) Novo Nordisk, and 5) Schwab. Our properties in New Jersey, Massachusetts, California, and Texas accounted for approximately 20% , 20% , 14% , and 12% , respectively, of our total gross investment in real property portfolio as of December 31, 2016 . A deterioration of general economic or other relevant conditions, changes in governmental laws and regulations, acts of nature, demographics or other factors in any of those states or the geographical region in which they are located could result in the loss of a tenant, a decrease in the demand for our properties and a decrease in our revenues from those markets, which in turn may have a disproportionate and material adverse effect on our results of operations and financial condition. Third Party Purchase Options "3 Second Street, formerly known as Harborside,” an office property located in Northern New Jersey, was subject to a purchase option held by a third party with an exercise price that we estimated to be approximately $239.4 million and an exercise date in May 2016. On August 5, 2015, we paid the option holder approximately $12.0 million to terminate the option. Such payment is included within capital expenditures in real property in the accompanying consolidated statements of cash flows. As a result, the option is no longer outstanding. “Colshire,” an office property located in the Washington, DC area, was subject to a purchase option held by the tenant, Northrop Grumman, with an exercise price that we estimated to be approximately $158.4 million and an expiration date in March 2016. The tenant exercised the purchase option during January 2016, triggering a sale of the property to Northrop Grumman in February 2016. See our discussion under "—Dispositions"for information regarding the disposition of this office property during the year ended December 31, 2016 .

Debt-Related Investments

Debt-Related Investments	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Debt-Related Investments	DEBT-RELATED INVESTMENTS As of December 31, 2016 and 2015 , we had invested in three debt-related investments. The weighted average maturity of our debt-related investments structured as mortgage notes as of December 31, 2016 was 2.2 years, based on our recorded net investments. The following table describes our debt-related income for the years ended December 31, 2016 , 2015 , and 2014 (dollar amounts in thousands): For the Year Ended December 31, Weighted Average Yield as of December 31, 2016 (1) Investment Type 2016 2015 2014 Mortgage notes (2) $ 943 $ 5,136 $ 4,521 6.1 % Mezzanine debt (3) — 1,786 2,875 N/A Total $ 943 $ 6,922 $ 7,396 6.1 % _______________________________ (1) Weighted average yield is calculated on an unlevered basis using the amount invested, current interest rates and accretion of premiums or discounts realized upon the initial investment for each investment type as of December 31, 2016 . As of December 31, 2016 , all of our debt-related investments bear interest at fixed rates. (2) None of our debt-related investments structured as mortgage notes were repaid in full during the year ended December 31, 2016 . Six and three of our debt-related investments structured as mortgage notes were repaid in full during the years ended December 31, 2015 and 2014 , respectively. Amounts recorded include early repayment fees received and accelerated amortization of origination fees offset by accelerated amortization of deferred due diligence costs related to certain of these repayments. (3) Our debt-related investment structured as a mezzanine loan was repaid in full during the year ended December 31, 2015. During the year ended December 31, 2015, amounts recorded were offset by accelerated amortization of deferred due diligence costs. The following table describes our debt-related investment activity for the years ended December 31, 2016 and 2015 (amounts in thousands). Year Ended December 31, 2016 2015 Investment in Debt-Related Investments: Balance at January 1, $ 15,722 $ 94,951 Investments (1) — 3,465 Principal repayments (469 ) (82,417 ) Amortization of deferred fees, costs, and discounts/premiums (44 ) (277 ) Balance at December 31, $ 15,209 $ 15,722 _______________________________ (1) Investment includes approximately $2 million of accrued interest that was capitalized into the principal balance of our mezzanine debt investment during the year ended December 31, 2015 . Debt-Related Investment and Repayment Activity As of December 31, 2016 , all of our debt-related investments required both interest and principal payments on a monthly basis. We did not have any debt-related investment that was subject to delinquent principal or interest payments. We are the senior lender in all of our debt-related investments with respect to the underlying collateral. The following table summarizes our debt-related investments as of December 31, 2016 (dollar amounts in thousands). Description Region Interest Rate Fixed or Variable Interest Rate as of December 31, 2016 Maturity Date Face Amount of Debt (1) Amount of Debt Related Investments Mortgage note Northeast Fixed 6.2 % 11/1/2017 $ 3,609 $ 3,622 Mortgage note Southeast Fixed 7.0 % 3/1/2019 8,483 8,551 Mortgage note Mountain Fixed 5.2 % 3/1/2021 3,048 3,036 Total/weighted average 6.4 % $ 15,140 $ 15,209 _______________________________ (1) Reflects the principal amount of the debt investment outstanding, which is net of principal repayments. Impairment As of December 31, 2016 and December 31, 2015 , we did not have any allowance for loan loss. During the year ended December 31, 2016 , we did not record any current period provision for loan loss or recoveries of amounts previously charged off. During the year ended December 31, 2015 , we determined that an impaired debt-related investment did not have any value and therefore we recorded a direct write-off of the allowance for loan loss of $3 million . We did not have any debt-related investments on non-accrual status as of December 31, 2016 or December 31, 2015 . We did not record any interest income related to our impaired debt-related investment during the years ended December 31, 2016 , 2015 , or 2014 .

Debt Obligations

Debt Obligations	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Debt Obligations	DEBT OBLIGATIONS The following table describes our borrowings as of December 31, 2016 and 2015 (dollar amounts in thousands): Principal Balance as of December 31, Weighted Average Interest Rate as of December 31, Gross Investment Amount Securing Borrowings as of December 31, (1) 2016 2015 2016 2015 2016 2015 Fixed-rate mortgages (2) $ 290,970 $ 580,959 4.9 % 5.6 % $ 462,954 $ 1,016,560 Floating-rate mortgages (3) 52,500 7,890 2.3 % 3.4 % 70,485 16,618 Total mortgage notes 343,470 588,849 4.5 % 5.5 % 533,439 1,033,178 Line of credit (4) 236,000 167,000 2.3 % 1.9 % N/A N/A Term loans (5) 475,000 350,000 3.2 % 2.6 % N/A N/A Total unsecured borrowings 711,000 517,000 2.9 % 2.4 % N/A N/A Total borrowings $ 1,054,470 $ 1,105,849 3.4 % 4.1 % N/A N/A Less: net debt issuance costs (6) (6,295 ) (6,317 ) Add: mark-to-market adjustment on assumed debt 626 1,304 Less: GAAP principal amortization on restructed debt — (3,067 ) Total borrowings (net basis) $ 1,048,801 $ 1,097,769 _______________________________ (1) “Gross Investment Amount” as used here and throughout this document represents the allocated gross basis of real property and debt-related investments, after certain adjustments. Gross Investment Amount for real property (i) excludes the effect of intangible lease liabilities, (ii) excludes accumulated depreciation and amortization, and (iii) includes the impact of impairments. (2) Amount as of December 31, 2016 includes a floating-rate mortgage note that was subject to an interest rate spread of 1.60% over one-month LIBOR, which we have effectively fixed using an interest rate swap at 3.051% for the term of the borrowing. (3) As of December 31, 2016 , our floating-rate mortgage note was subject to an interest rate spread of 1.65% over one-month LIBOR. As of December 31, 2015 our floating-rate mortgage note was subject to an interest rate spread of 3.00% over one-month LIBOR. (4) As of December 31, 2016 and 2015 , borrowings under our line of credit were subject to interest at a floating rate of 1.55% and 1.40% over one-month LIBOR, respectively. However, as of December 31, 2016 , we had effectively fixed the interest rate of approximately $12.1 million of the total of $236.0 million in borrowings using interest rate swaps, resulting in a weighted average interest rate on the total line of credit of 2.28% . As of December 31, 2015 , we had effectively fixed the interest rate of approximately $25.4 million of the total of $167.0 million in borrowings using interest rate swaps, resulting in a weighted average interest rate on the total line of credit of 1.88% . (5) As of December 31, 2016 and 2015 , borrowings under our term loans were subject to interest at weighted average floating rates of 1.60% and 1.52% , respectively, over one-month LIBOR. However, we had effectively fixed the interest rates of the borrowings using interest rate swaps at 3.17% and 2.59% as of December 31, 2016 and 2015 , respectively. (6) See Note 2 for additional information related to the reclassification of net debt issuance costs in accordance with ASU 2015-03. As of December 31, 2016 , seven mortgage notes were interest-only and four mortgage notes were fully amortizing with outstanding principal balances of approximately $316.3 million and $27.2 million , respectively. None of our mortgage notes are recourse to us. Revolving Credit Facility and Five-Year Term Loan Through a syndicate of 14 lenders (the "BofA Lenders") led by Bank of America, N.A., as Administrative Agent ("BofA"), we have a $675 million senior unsecured term loan and revolving line of credit (the “ Facility ”). The Facility provides us with the ability from time to time to increase the size of the Facility up to a total of $900 million less the amount of any prepayments under the term loan component of the Facility , subject to receipt of lender commitments and other conditions. The Facility consists of a $400 million revolving credit facility (the “ Revolving Credit Facility ”) and a $275 million five -year term loan (the “ Term Loan ”). The Revolving Credit Facility contains a sublimit of $50 million for letters of credit and a sublimit of $50 million for swing line loans. The primary interest rate for the Revolving Credit Facility is based on LIBOR, plus a margin ranging from 1.40% to 2.30% , depending on our consolidated leverage ratio. The maturity date of the Revolving Credit Facility is January 31, 2019 and contains one one -year extension option that we may exercise upon (i) payment of an extension fee equal to 0.15% of the sum of the amount outstanding under the Revolving Credit Facility and the unused portion of the Revolving Credit Facility at the time of the extension, and (ii) compliance with the other conditions set forth in the credit agreement. The primary interest rate within the Term Loan is based on LIBOR, plus a margin ranging from 1.35% to 2.20% , depending on our consolidated leverage ratio. The maturity date of the Term Loan is January 31, 2018 and contains two one -year extension options that we may exercise upon (i) payment of an extension fee equal to 0.125% of the sum of the amount outstanding under the Term Loan at the time of each extension, and (ii) compliance with the other conditions set forth in the credit agreement. Borrowings under the Facility are available for general business purposes including, but not limited to, refinancing of existing indebtedness and financing the acquisition of permitted investments, including commercial properties. As of December 31, 2016 and 2015 , the unused portion of the Facility was approximately $164.0 million and $230.8 million , respectively, and we had full access to the unused portion of the Facility . Seven-Year Term Loan Through a syndicate of six lenders led by Wells Fargo Bank, National Association as Administrative Agent and Regions Bank as Syndication Agent, we have a $200 million seven -year term loan credit agreement (the “ $200 million Term Loan”) . The primary interest rate within the $200 million Term Loan is based on LIBOR, plus a margin ranging from 1.65% to 2.55% , depending on our consolidated leverage ratio. The maturity date of the $200 million Term Loan is February 27, 2022 with no extension options. Borrowings under the $200 million Term Loan are available for general business purposes including, but not limited to financing the acquisition of permitted investments, including commercial properties. As of December 31, 2016 , we were in compliance with all our debt covenants. Mortgage Note Borrowings During the year ended December 31, 2016 , we entered into two mortgage note borrowings. The following table describes the new borrowings in more detail (dollar amounts in thousands): Borrowings Date Borrowed Principal Balance Fixed or Floating Interest Rate Stated Interest Rate Contractual Maturity Date Extension Options Collateral Type Collateral Market Preston Sherry Plaza (1) 4/13/2016 $ 33,000 Fixed 3.05 % 3/1/2023 None Office Property Dallas, TX 1300 Connecticut (2) 8/5/2016 52,500 Floating 2.17 % 8/5/2023 None Office Property Washington, DC Total borrowings $ 85,500 2.51 % (1) As of December 31, 2016 , the Preston Sherry Plaza term loan was subject to an interest rate spread of 1.60% over one-month LIBOR, which we have effectively fixed using an interest rate swap at 3.051% for the term of the borrowing. (2) As of December 31, 2016 , the 1300 Connecticut term loan was subject to an interest rate spread of 1.65% over one-month LIBOR. However, we entered into interest rate swaps which will effectively fix the interest rate of the borrowing at 2.852% from July 1, 2018 to July 1, 2021. Repayment of Mortgage Notes During the year ended December 31, 2016 , we repaid nine mortgage note borrowings in full during the respective free-prepayment periods prior to their scheduled maturities using proceeds from the Facility and the disposition of real properties. The following table describes these repayments in more detail (dollar amounts in thousands): Debt Obligation Repayment Date Balance Repaid/Extinguished Interest Rate Fixed or Floating Stated Interest Rate Contractual Maturity Date Collateral Type Collateral Market 1300 Connecticut 1/12/2016 $ 44,979 Fixed 6.81 % 4/10/2016 Office Property Washington, DC Washington Commons (1) 2/1/2016 21,300 Fixed 5.94 % 2/1/2016 Office Property Chicago, IL 40 Boulevard (2) 3/1/2016 7,830 Floating 3.44 % 3/11/2016 Office Property Chicago, IL Jay Street 4/11/2016 23,500 Fixed 6.05 % 7/11/2016 Office Property Silicon Valley, CA 655 Montgomery 4/11/2016 55,683 Fixed 6.01 % 6/11/2016 Office Property San Francisco, CA Bala Pointe 7/1/2016 24,000 Fixed 5.89 % 9/1/2016 Office Property Philadelphia, PA Harborside 9/9/2016 104,675 Fixed 5.50 % 12/10/2016 Office Property Northern New Jersey Bandera Road 12/8/2016 21,500 Fixed 5.46 % 2/8/2017 Retail Property San Antonio, TX Shiloh 12/8/2016 22,700 Fixed 5.57 % 1/8/2017 Industrial Property Dallas, TX Total/weighted average borrowings $ 326,167 5.82 % (1) Amount presented includes a $5.1 million contingently payable mortgage note that was not ultimately required to be repaid. As a result of the transaction, we recognized a gain on extinguishment of debt and financing commitments of approximately $5.1 million during the year ended December 31, 2016 . (2) The mortgage note was subject to an interest rate of 3.0% over one-month LIBOR. Debt Maturities The following table reflects our contractual debt maturities as of December 31, 2016 , specifically our obligations under our mortgage notes and unsecured borrowings (dollar amounts in thousands): As of December 31, 2016 Mortgage Notes Unsecured Borrowings Total Year Ending December 31, Number of Maturing Outstanding Principal Balance Number of Maturing Outstanding Balance (1) Outstanding 2017 4 $ 162,460 — $ — $ 162,460 2018 — 2,698 1 275,000 277,698 2019 — 3,698 1 236,000 239,698 2020 — 3,860 — — 3,860 2021 1 12,764 — — 12,764 2022 1 3,660 1 200,000 203,660 2023 2 77,899 — — 77,899 2024 — 1,034 — — 1,034 2025 1 71,094 — — 71,094 2026 — 1,157 — — 1,157 Thereafter 2 3,146 — — 3,146 Total 11 $ 343,470 3 $ 711,000 $ 1,054,470 Less: net debt issuance costs (1,849 ) (4,446 ) Add: mark-to-market adjustment on assumed debt 626 — Total borrowings (net basis) $ 342,247 $ 706,554 _______________________________ (1) Unsecured borrowings presented include (i) borrowings under the Term Loan of $275.0 million , which were scheduled to mature in 2018, subject to two one -year extension options, (ii) borrowings under the Revolving Credit Facility of $236.0 million , which were scheduled to mature in 2019, subject to a one -year extension option, and (iii) borrowings under the $200 million Term Loan of $200.0 million which are scheduled to mature in 2022 with no extension options.

Derivatives and Hedging Activit

Derivatives and Hedging Activities	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivatives and Hedging Activities	DERIVATIVES AND HEDGING ACTIVITIES Risk Management Objective of Using Derivatives We maintain risk management control systems to monitor interest rate risk attributable to both our outstanding and forecasted debt obligations. We generally seek to limit the impact of interest rate changes on earnings and cash flows by selectively utilizing derivative instruments to hedge exposures to changes in interest rates on our unsecured floating rate borrowings. While this hedging strategy is designed to minimize the impact on our net income (loss) and cash provided by operating activities from changes in interest rates, the overall returns on our investments may be reduced. Our board of directors has established policies and procedures regarding our use of derivative instruments for hedging or other purposes to achieve these risk management objectives. Cash Flow Hedges of Interest Rate Risk Our objectives in using interest rate derivatives are to add stability to interest expense and to manage our exposure to interest rate movements. To accomplish this objective, we primarily use interest rate swaps as part of our interest rate risk management strategy. Interest rate swaps designated as cash flow hedges involve the receipt of variable-rate amounts from counterparties in exchange for us making fixed-rate payments over the life of the agreements without exchange of the underlying notional amounts. We have entered into and plan to enter into certain interest rate derivatives with the goal of mitigating our exposure to adverse fluctuations in the interest payments on our one-month LIBOR-indexed debt. Certain of our floating rate borrowings are not hedged and therefore, to an extent, we have ongoing exposure to interest rate movements. The effective portion of changes in the fair value of derivatives designated and that qualify as cash flow hedges under ASC Topic 815 is recorded in accumulated other comprehensive income (loss) and is subsequently reclassified into earnings in the period that the hedged forecasted transaction affects earnings. During the next 12 months, we estimate that approximately $3.3 million will be reclassified as an increase to interest expense related to active effective hedges of existing floating-rate debt, and we estimate that approximately $2.0 million will be reclassified as an increase to interest expense related to effective forward started interest rate swaps where the hedging instrument has been terminated. The ineffective portion of the change in fair value of the derivatives is recognized directly in earnings. The table below presents a reconciliation of the beginning and ending balances, between December 31, 2015 and December 31, 2016 , of our accumulated other comprehensive loss (“OCI”), net of amounts attributable to noncontrolling interests, related to the effective portion of our cash flow hedges as presented on our financial statements, as well as amounts related to our available-for-sale securities (amounts in thousands): (Losses) and Gains on Cash Flow Hedges Unrealized (Losses) and Gains on Available-For-Sale Securities Accumulated Other Comprehensive Loss Beginning balance as of December 31, 2015: $ (9,967 ) $ (1,047 ) $ (11,014 ) Other comprehensive income: Amount of loss reclassified from OCI into interest expense (effective portion) (net of tax benefit of $0) 4,620 — 4,620 Change in fair value recognized in OCI (effective portion) (net of tax benefit of $0) (204 ) — (204 ) Net current-period other comprehensive income 4,416 — 4,416 Attribution of and other adjustments to OCI attributable to noncontrolling interests (298 ) (9 ) (307 ) Ending balance as of December 31, 2016: $ (5,849 ) $ (1,056 ) $ (6,905 ) Fair Values of Derivative Instruments The valuation of interest rate derivatives is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate swaps are determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. To comply with the provisions of ASC Topic 820, we incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements. In adjusting the fair value of our derivative for the effect of nonperformance risk, we have considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds, mutual puts and guarantees. The majority of the inputs used to value our derivative instruments fall within Level 2 of the fair value hierarchy. However, the credit valuation adjustments associated with our derivative instruments utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of potential default by us and our counterparties. As of December 31, 2016 , we had assessed the significance of the impact of the credit valuation adjustments and had determined that it was not significant to the overall valuation of our derivative instruments. As a result, we have determined that our derivative valuations are classified in Level 2 of the fair value hierarchy. Designated Derivatives As of December 31, 2016 and 2015 , we had 11 and 12 outstanding interest rate swaps that were designated as cash flow hedges of interest rate risk, with a total notional amount of $395.1 million and $375.4 million , respectively. In addition, as of December 31, 2016 , we had one interest rate swap with a total notional amount of $52.5 million that will become effective in July 2018 and mature in July 2021, which is designated as a cash flow hedge of interest rate risk. The table below presents the gross fair value of our designated derivative financial instruments as well as their classification on our accompanying consolidated balance sheets as of December 31, 2016 and 2015 (amounts in thousands): Fair Value of Asset Derivatives as of Fair Value of Liability Derivatives as of Balance Sheet Location December 31, 2016 December 31, 2015 Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate contracts Other assets, net (1) $ 2,135 $ 197 Other liabilities (1) $ (2,777 ) $ (3,303 ) _______________________________ (1) Although our derivative contracts are subject to master netting arrangements which serve as credit mitigants to both us and our counterparties under certain situations, we do not net our derivative fair values or any existing rights or obligations to cash collateral on the accompanying consolidated balance sheets. If we did net our derivative fair values on the accompanying consolidated balance sheets, the derivative fair values would be lowered by approximately $157,000 as of December 31, 2015 . This would result in net fair values of our asset derivatives of approximately $41,000 and and net fair values of our liability derivatives of approximately $3.1 million as of December 31, 2015 . As of December 31, 2016 , there would not be an impact if we net our derivative fair values. Non-Designated Derivatives Derivatives not designated as hedges are not speculative and are used to hedge our exposure to interest rate movements and other identified risks but do not meet hedge accounting requirements. As of December 31, 2016 , 2015 , and 2014 , we did not have any outstanding derivatives that were not designated as hedges. Effect of Derivative Instruments on the Statements of Comprehensive Income The table below presents the effect of our derivative financial instruments on our financial statements for the years ended December 31, 2016 , 2015 , and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Derivatives Designated as Hedging Instruments Derivative type Interest rate contracts Interest rate contracts Interest rate contracts Amount of (loss) recognized in OCI $ (204 ) $ (5,797 ) $ (2,370 ) Location of loss reclassified from Interest expense Interest expense Interest expense Amount of loss reclassified from $ 4,620 $ 4,820 $ 3,091 Location of gain (loss) recognized in income Interest and other income Interest and other income Interest and other income Amount of gain (loss) recognized in income $ — $ 3 $ (1 ) Credit-Risk-Related Contingent Features We have agreements with certain of our derivative counterparties that contain a provision where we could be declared in default on our derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to our default on the indebtedness. We have agreements with certain other derivative counterparties that contain a provision whereby if we default on any of our indebtedness held by our Operating Partnership, including default where repayment of the indebtedness has not been accelerated by the lender, then we could also be declared in default on our derivative obligations. As of December 31, 2016 , the fair value of derivatives in a net liability position, which included accrued interest but excluded any credit valuation adjustments related to these agreements, was approximately $2.9 million . As of December 31, 2016 , we have not posted any collateral related to these agreements. If we had breached any of these provisions at December 31, 2016 , we could have been required to settle our obligations under the agreements at their termination value of $2.9 million .

Fair Value Disclosures

Fair Value Disclosures	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures	FAIR VALUE DISCLOSURES ASC Topic 820, defines fair value, establishes a framework for measuring fair value, and expands disclosures about fair value measurements. ASC Topic 820 applies to reported balances that are required or permitted to be measured at fair value under existing accounting pronouncements; accordingly, the standard does not require any new fair value measurements of reported balances. ASC Topic 820 emphasizes that fair value is a market-based measurement, not an entity-specific measurement. Therefore, a fair value measurement should be determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, ASC Topic 820 establishes a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy). Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities that we have the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates, foreign exchange rates, and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liabilities, which are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the entire fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. The table below presents certain of our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and 2015 , aggregated by the level in the fair value hierarchy within which those measurements fall as defined above (amounts in thousands). The fair value estimates presented herein are based on information available to management as of December 31, 2016 and December 31, 2015 . Please see Note 6 for a discussion of our methodology for estimating the fair value of our derivative instruments. These estimates are not necessarily indicative of the amounts we could ultimately realize. There were no changes between fair value hierarchy levels during the years ended December 31, 2016 and 2015 . Level 1 Level 2 Level 3 Total As of December 31, 2016: Assets Real estate securities $ — $ — $ 200 $ 200 Derivative instruments — 2,135 — 2,135 Total assets $ — $ 2,135 $ 200 $ 2,335 Liabilities Derivative instruments $ — $ (2,777 ) $ — $ (2,777 ) Total liabilities $ — $ (2,777 ) $ — $ (2,777 ) As of December 31, 2015: Assets Real estate securities $ — $ — $ 200 $ 200 Derivative instruments — 197 — 197 Total assets $ — $ 197 $ 200 $ 397 Liabilities Derivative instruments $ — $ (3,303 ) $ — $ (3,303 ) Total liabilities $ — $ (3,303 ) $ — $ (3,303 ) We review our fair value hierarchy classifications on a quarterly basis. Transfers into or out of Level 3 are made if the significant inputs used in measuring the fair values of the assets and liabilities became unobservable or observable, respectively, in the current market environment. When assets and liabilities are transferred between levels, we recognize the transfer at the beginning of the period. There were no transfers into or out of assets having fair value measurements based on significant unobservable inputs (Level 3) between December 31, 2015 and December 31, 2016 . Additionally, there was no change in fair value or carrying value for our assets having fair value measurements based on significant unobservable inputs (Level 3) between December 31, 2015 and December 31, 2016 . Nonrecurring Fair Value Measurements See Note 3 for a discussion of the nonrecurring fair value measurements used in recording impairment charges related to our real estate properties during the years ended December 31, 2016 and 2015 .

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Financial Instruments, Owned, at Fair Value [Abstract]
Fair Value of Financial Instruments	FAIR VALUE OF FINANCIAL INSTRUMENTS We are required to disclose an estimate of fair value of our financial instruments for which it is practicable to estimate the value. The fair value of a financial instrument is the amount at which such financial instrument could be exchanged in a current transaction between willing parties, other than in a forced sale or liquidation. For certain of our financial instruments, fair values are not readily available since there are no active trading markets as characterized by current exchanges between willing parties. Accordingly, we derive our estimated fair value using various valuation techniques, such as computing the present value of estimated future cash flows using discount rates commensurate with the risks involved. However, the determination of estimated cash flows may be subjective and imprecise and changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In that regard, the fair value estimates may not be substantiated by comparison to independent markets, and in many cases, may not be realized in immediate settlement of the instrument. We use the framework established in ASC Topic 820 to measure the fair value of our financial instruments as disclosed in the table below. The fair values estimated below are indicative of certain interest rate and other assumptions as of December 31, 2016 and 2015 , and may not take into consideration the effects of subsequent interest rate or other assumption fluctuations, or changes in the values of underlying collateral. The fair values of cash and cash equivalents, restricted cash, accounts receivable, and accounts payable and accrued expenses approximate their carrying values because of the short-term nature of these instruments. The following table summarizes the carrying amounts and estimated fair values measured on a nonrecurring basis of our other financial instruments, including instruments classified as held for sale, as of December 31, 2016 and 2015 (amounts in thousands). See Note 7 for a discussion of our assets and liabilities measured at fair value on a recurring basis. As of December 31, 2016 As of December 31, 2015 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Fixed-rate debt-related investments, net $ 15,209 $ 15,784 $ 15,722 $ 16,526 Liabilities: Fixed-rate mortgage notes carried at amortized cost $ 290,329 $ 291,624 $ 577,978 $ 576,432 Floating-rate mortgage notes 51,918 51,942 7,886 7,883 Floating-rate unsecured borrowings 706,554 711,000 511,905 517,000 The methodologies used and key assumptions made to estimate fair values of the financial instruments, other than derivatives disclosed in Note 6, described in the above table are as follows: Debt-Related Investments —The fair value of our performing debt-related investments are estimated using a discounted cash flow methodology. This method discounts estimated future cash flows using rates management determines best reflect current market interest rates that would be offered for loans with similar characteristics and credit quality. Credit spreads and market interest rates used to determine the fair value of these instruments are based on unobservable Level 3 inputs which management has determined to be its best estimate of current market values. Mortgage Notes and Other Borrowings —The fair value of our mortgage notes and other borrowings are estimated using a discounted cash flow analysis, based on our estimate of market interest rates. Credit spreads relating to the underlying instruments are based on unobservable Level 3 inputs, which we have determined to be our best estimate of current market spreads of similar instruments.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Noncontrolling Interests	NONCONTROLLING INTERESTS Our noncontrolling interests consist of two components: (i) OP Units held by third parties and (ii) joint venture partnership interests held by our partners. The following table summarizes changes to noncontrolling interest balances between December 31, 2015 and December 31, 2016 in terms of cumulative contributions, distributions and cumulative allocations of net income (loss) and redemptions and buyouts of the interests (amounts in thousands). OP Units Joint Venture Partner Interests Noncontrolling Interests Beginning balance as of December 31, 2015 $ 94,734 $ 2,412 $ 97,146 Comprehensive Income and Loss Net income (loss) 3,883 1,189 5,072 Unrealized change from cash flow hedging derivatives 307 — 307 Contributions, Distributions and Redemptions Contributions from noncontrolling interest holders — 3,225 3,225 Distributions to noncontrolling interest holders (4,661 ) (4,345 ) (9,006 ) Redemption and buyout of noncontrolling interests, net (4,996 ) — (4,996 ) Ending balance as of December 31, 2016 $ 89,267 $ 2,481 $ 91,748 OP Units Securities that are redeemable for cash or other assets at the option of the holder, not solely within the control of the issuer, are classified as redeemable noncontrolling interests outside of permanent equity in our accompanying balance sheets. We have evaluated our ability to deliver shares of common stock to satisfy redemption requests from holders of our OP Units and we have concluded that we have the right to satisfy the redemption requirements of holders of our OP Units by delivering unregistered shares of our common stock. Each outstanding OP Unit is exchangeable for one share of our common stock, and the OP Unit holder cannot require redemption in cash or other assets. As a result, we classify our OP Units held by third parties as noncontrolling interests. We are the sole general partner of our Operating Partnership and currently own, in our capacity as the general partner, 200 OP Units for which we contributed $2,000 . Subsequent to that initial investment, we have contributed 100% of the proceeds received from our offerings of common stock to our Operating Partnership in exchange for OP Units representing our interest as a limited partner of the Operating Partnership. As of December 31, 2016 and 2015 , we owned approximately 92.6% and 92.8% of the outstanding limited partnership interests in our Operating Partnership, respectively, and the remaining limited partnership interests in our Operating Partnership were owned by third-party investors. Our Operating Partnership has classes of OP Units that correspond to our four classes of common stock: Class E OP Units, Class A OP Units, Class W OP Units and Class I OP Units. After a period of one year from the date of issuance, holders of Class E OP Units (other than us) may request the Operating Partnership to redeem their Class E OP Units. We have the option of redeeming the Class E OP Units with cash for an amount based on our NAV per share as of the effective date of the redemption, shares of our common stock on a one-for- one basis, or with a combination of cash and Class E shares of common stock. We did not issue any Class E shares pursuant to this option during 2016 or 2015 . During the years ended December 31, 2016 and 2015 , we redeemed approximately 760,000 and 360,000 Class E OP Units for approximately $5.6 million and $2.7 million in cash, respectively. As of December 31, 2016 and 2015 , our Operating Partnership had issued and outstanding approximately 12.0 million and 12.8 million Class E OP Units, respectively, to third-party investors in connection with its private placement offerings. Such units had a maximum approximate redemption value of $91.2 million and $95.6 million , as of December 31, 2016 and December 31, 2015 , respectively, based on our December 31, 2016 and December 31, 2015 NAV per share, respectively, (unaudited). Furthermore, during the year ended December 31, 2015, we exercised our option to acquire, at fair value, previously sold fractional interests in a retail property in the Jacksonville, FL market for a combination of (i) approximately 1.0 million Class E OP Units issued at a price of $7.18 per OP Unit, representing approximately $7.3 million of the aggregate purchase price and (ii) approximately $783,000 in cash. The result of this activity was a net decrease in our financing obligations of approximately $17.9 million and a net increase in our noncontrolling interests of $16.2 million . Joint Venture Partner Interests We consolidate all of our joint ventures in the accompanying financial statements. Our joint venture partners’ interests in our consolidated partnerships are not redeemable. As a result, we classify our joint venture partners’ interests as noncontrolling interests. During the year ended December 31, 2016, we sold two office properties held by one of our joint ventures. As a result, we no longer have any interest in that joint venture.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Stockholders' Equity	STOCKHOLDERS' EQUITY Common Stock On May 27, 2005, we filed a Registration Statement on Form S-11 with the Commission in connection with an initial public offering of our Class E shares of common stock, which was declared effective on January 27, 2006. On June 11, 2007, we filed a Registration Statement on Form S-11 with the Commission in connection with a follow-on public offering of our Class E common stock, which was declared effective on January 22, 2008. As of the close of business on September 30, 2009, we terminated the primary portion of our public offerings of Class E shares of our common stock and ceased accepting new subscriptions to purchase shares of our common stock. On October 23, 2009, we filed a Registration Statement for the sale of up to $237,500,000 in Class E shares of our common stock pursuant to our distribution reinvestment plan. This distribution reinvestment plan offering is ongoing. On July 12, 2012, the Commission declared effective our Prior Offering, which we terminated on September 15, 2015. On September 16, 2015, the Commission declared effective our Follow-On Offering, which applies to the offer and sale of shares of Class A, Class W, and Class I common stock to the public through a primary offering and a restated distribution reinvestment plan with NAV-based pricing. See Note 1 for additional information regarding the Prior Offering and Follow-On Offering. The following table describes the changes in each class of common shares during each of the years ended December 31, 2016 , 2015 and 2014 (shares and dollar amounts in thousands). Class E Class A Class W Class I Total Shares Amount (1) Shares Amount (1) Shares Amount (1) Shares Amount (1) Shares Amount (1) Balances, December 31, 2013 171,254 $ 1,728,146 217 $ 1,534 209 $ 1,437 4,327 $ 29,507 176,007 $ 1,760,624 Issuance of common stock: Shares sold — — 955 6,879 900 6,310 9,090 63,705 10,945 76,894 Distribution reinvestment plan 2,830 19,785 15 105 10 74 123 867 2,978 20,831 Stock-based compensation — — — — — — 136 807 136 807 Redemptions of common stock (11,016 ) (77,523 ) — — (2 ) (13 ) (648 ) (4,566 ) (11,666 ) (82,102 ) Balances, December 31, 2014 163,068 $ 1,670,408 1,187 $ 8,518 1,117 $ 7,808 13,028 $ 90,320 178,400 $ 1,777,054 Issuance of common stock: Shares sold — — 511 3,888 693 5,134 10,135 73,982 11,339 83,004 Distribution reinvestment plan 2,447 17,866 28 203 22 158 426 3,119 2,923 21,346 Stock-based compensation — — — — — — 618 1,295 618 1,295 Redemptions of common stock (28,240 ) (206,134 ) (23 ) (171 ) (20 ) (148 ) (873 ) (6,433 ) (29,156 ) (212,886 ) Balances, December 31, 2015 137,275 $ 1,482,140 1,703 $ 12,438 1,812 $ 12,952 23,334 $ 162,283 164,124 $ 1,669,813 Issuance of common stock: Shares sold — — 436 3,337 782 5,799 10,960 81,479 12,178 90,615 Distribution reinvestment plan 2,004 14,859 42 311 44 331 684 5,075 2,774 20,576 Stock-based compensation — — — — — — 32 1,415 32 1,415 Redemptions of common stock (26,954 ) (198,810 ) (180 ) (1,328 ) (367 ) (2,701 ) (971 ) (7,203 ) (28,472 ) (210,042 ) Balances, December 31, 2016 112,325 $ 1,298,189 2,001 $ 14,758 2,271 $ 16,381 34,039 $ 243,049 150,636 $ 1,572,377 _______________________________ (1) Dollar amounts presented in this table represent the gross amount of proceeds from the sale of common shares, or the amount paid to stockholders to redeem or repurchase common shares, and do not include other costs and expenses accounted for within additional paid-in capital, such as selling commissions, dealer manager and distribution fees, offering and organizational costs, and other costs associated with our distribution reinvestment plans, share redemption programs, and self-tender offers. Redemptions and Repurchases During the year ended December 31, 2016 , we completed four self-tender offers pursuant to which we accepted for purchase approximately 25.1 million Class E shares, at a weighted average purchase price of $7.37 per share for an aggregate cost of approximately $185.3 million . On August 12, 2015, we completed a modified “Dutch Auction” tender offer, pursuant to which we accepted for purchase approximately 17.2 million shares of Class E common stock, at a purchase price of $7.25 per share for an aggregate cost of approximately $124.4 million . On December 23, 2015, we completed another self-tender offer, pursuant to which we accepted for purchase approximately 2.7 million shares of Class E common stock, at a purchase price of $7.39 per share for an aggregate cost of approximately $20.1 million . We have adopted a Class E Share Redemption Program (the “Class E SRP”), whereby Class E stockholders may request that we redeem all or any portion of their Class E shares subject to certain conditions and limitations. Redemptions are only available with respect to Class E shares of common stock in the event of the death or disability of a stockholder subject to certain conditions and limitations. We also have a separate Class A, W and I Share Redemption Program (“Class AWI SRP”) for holders of our Class A, Class W or Class I shares. Our board of directors may modify, suspend or terminate our share redemption programs if it deems such action to be in the best interest of our stockholders. Our board of directors will evaluate each quarter whether to make liquidity available to Class E stockholders through the Class E SRP or through a tender offer process. During the years ended December 31, 2016 and 2015 , we redeemed approximately 1.8 million and 8.4 million Class E shares pursuant to our Class E SRP for approximately $13.5 million and $61.7 million , respectively. During the year ended December 31, 2015 , our board of directors authorized an additional $28.0 million in addition to the amounts calculated in accordance with our Class E SRP, related to these redemptions. During the year ended December 31, 2016 , we redeemed approximately 1.5 million Class I shares, Class A shares, and Class W shares pursuant to our Class AWI SRP for a total of approximately $11.2 million . During the year ended December 31, 2015 , we redeemed approximately 916,000 Class I shares, Class A shares, and Class W shares pursuant to our Class AWI SRP for a total of approximately $6.8 million . During the year ended December 31, 2014 , we redeemed approximately 650,000 Class I shares and Class W shares pursuant to our Class AWI SRP for a total of approximately $4.6 million . Distributions We accrue distributions on a daily basis and pay distributions on a quarterly basis. Historically, each quarter, our board of directors has authorized the following quarter’s daily distribution accrual. We calculate individual payments of distributions to each stockholder or OP Unit holder based upon daily record dates during each quarter, so that investors are eligible to earn distributions immediately upon purchasing shares of our common stock or upon purchasing OP Units. The following table describes our total distributions declared on our common stock for the years ended December 31, 2016 , 2015 and 2014 , and the portion of each distribution that was paid in cash and reinvested in shares (dollar amounts in thousands). For the Year Ended December 31, Distributions: 2016 % of Total Distributions 2015 % of Total Distributions 2014 % of Total Distributions Paid in cash $ 36,418 63.8 % $ 41,723 66.3 % $ 41,381 66.5 % Reinvested in shares 20,622 36.2 % 21,177 33.7 % 20,855 33.5 % Total distributions $ 57,040 100.0 % $ 62,900 100.0 % $ 62,236 100.0 % The following table sets forth the distributions that have been paid and/or authorized as of December 31, 2016 , subject to class-specific adjustments. Amount Declared per Share/Unit (1) Quarter Class E Class A Class W Class I Weighted Average Payment Date 2015 1st Quarter 2015 0.0900 0.0705 0.0794 0.0882 0.0897 4/16/2015 2nd Quarter 2015 0.0900 0.0700 0.0791 0.0882 0.0896 7/2/2015 3rd Quarter 2015 0.0900 0.0695 0.0788 0.0881 0.0895 10/16/2015 4th Quarter 2015 0.0900 0.0694 0.0788 0.0881 0.0894 1/19/2016 2016 1st Quarter 2016 0.0900 0.0697 0.0789 0.0882 0.0894 4/18/2016 2nd Quarter 2016 0.0900 0.0699 0.0790 0.0882 0.0893 7/18/2016 3rd Quarter 2016 0.0900 0.0695 0.0788 0.0881 0.0892 10/18/2016 4th Quarter 2016 0.0900 0.0692 0.0787 0.0881 0.0892 1/17/2017 2017 1st Quarter 2017 (2) 0.0900 0.0692 0.0786 0.0881 0.0891 4/17/2017 _______________________________ (1) Assumes ownership of share or unit for the entire quarter. (2) The distribution amount herein for the first quarter of 2017 is estimated based on the NAV per share as of December 31, 2016 . (3) Expected payment date. Distribution Tax Characterization Our distributions to stockholders are characterized for federal income tax purposes as (i) ordinary income, (ii) non-taxable return of capital, or (iii) long-term capital gain. Distributions that exceed our current and accumulated tax earnings and profits constitute a return of capital for tax purposes and reduce the stockholders’ basis in the common shares. To the extent that distributions exceed both current and accumulated earnings and profits and the stockholders’ basis in the common shares, they will generally be treated as a gain or loss upon the sale or exchange of our stockholders’ common shares. For the years ended December 31, 2016 , 2015 and 2014 , we notified stockholders of the taxability of distributions paid during the preceding year on an annual basis. The following unaudited table summarizes the information reported to investors regarding the taxability of distributions on common shares for the years ended December 31, 2016 , 2015 and 2014 . For the Year Ended December 31, 2016 2015 2014 Per Common Share % of Total Distributions % of Total Distributions % of Total Distributions Ordinary income 53.66 % 81.01 % 63.92 % Non-taxable return of capital 46.34 % 18.99 % 36.08 % Total 100.00 % 100.00 % 100.00 %

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions	RELATED PARTY TRANSACTIONS Advisory Agreement Our day-to-day activities are managed by our Advisor, a related party, under the terms and conditions of the Advisory Agreement. Our Advisor is considered to be a related party as certain indirect owners and employees of our Advisor serve as two of our directors and all of our executive officers. The responsibilities of our Advisor cover all facets of our business, and include the selection and underwriting of our real property and debt-related investments, the negotiations for these investments, the asset management and financing of these investments and the oversight of real property dispositions. On June 23, 2016 , we entered into Tenth Amended and Restated Advisory Agreement (the “Advisory Agreement”) with our Advisor, effective June 30, 2016, which modified the fees and expense reimbursements payable to our Advisor. The Advisory Agreement may be renewed for an unlimited number of successive 1 -year terms. The current term of the Advisory Agreement expires on June 30, 2017. Per the Advisory Agreement, in consideration for asset management services performed, we pay our Advisor an advisory fee comprised of two separate components: (1) a fixed amount that accrues daily in an amount equal to 1/365th of 1.15% of (a) the “Aggregate Fund NAV” (i.e. the aggregate net asset value or "NAV" for our Class E shares, Class A shares, Class W shares and Class I shares, along with OP units held by third parties) for such day, and (b) the consideration received by us or our affiliate for selling Interests (defined below) in DST Properties (defined below) to third party investors, net of up-front fees and expense reimbursements payable out of gross sale proceeds from the sale of such Interests, including but not limited to sales commissions, dealer manager fees and non-accountable expense allowances, and (2) a performance component that is based on the annual non-compounded investment return provided to holders of “Fund Interests” (defined as our Class E shares, Class A shares, Class W shares, Class I shares, and OP Units held by third parties) such that our Advisor will receive 25% of the overall return in excess of 6% ; provided that in no event may the performance condition exceed 10% of the overall return for such year, and subject to certain other limitations. Additionally, our Advisor has provided us with a waiver of a portion of its fees generally equal to the amount of the performance component that would have been payable with respect to the Class E shares and the Class E OP Units held by third parties until the NAV of such shares or units exceeds $10.00 per share or unit, the benefit of which will be shared among all holders of Fund Interests. In addition, we will pay our Advisor a fee of 1% of the total consideration we receive upon the sale of real property assets (excluding DST Properties). For these purposes, a “sale” means any transaction or series of transactions whereby we or our Operating Partnership directly or indirectly (including through the sale of any interest in a joint venture or through a sale by a joint venture in which we hold an interest) sells, grants, transfers, conveys, or relinquishes its ownership of any real property or portion thereof, including the lease of any real property consisting of a building only, and including any event with respect to any real property which gives rise to a significant amount of insurance proceeds or condemnation awards. Further, for a substantial amount of services in connection with the sale of a property (excluding DST Properties), as determined by a majority of our independent directors, we will pay our Advisor up to 50.0% of the reasonable, customary and competitive commission paid for the sale of a comparable real property, provided that such amount shall not exceed 1% of the contract price of the property sold and, when added to all other real estate commissions paid to unaffiliated parties in connection with the sale, may not exceed the lesser of a competitive real estate commission or 6% of the sales price of the property. In addition, pursuant to the Advisory Agreement, we will pay directly, or reimburse our Advisor and our Dealer Manager (defined below) if they pay on our behalf any organizational and offering expenses (other than selling commissions, the dealer manager fee, distribution fees and non-transaction based compensation allocated to sales-related activities of employees of our Dealer Manager in connection with the offering) relating to any public offerings as and when incurred. After the termination of the primary portion of the offering and again after termination of the distribution reinvestment plan portion of the offering, our Advisor has agreed to reimburse us to the extent that total cumulative organization and offering expenses (including selling commissions, the dealer manager fee and distribution fees) that we incur exceed 15% of our gross proceeds from the applicable offering. Subject to certain limitations, we will reimburse our Advisor for all of the costs it incurs in connection with the services it provides to us, including, without limitation, our allocable share of the personnel (and related employment) costs and overhead (including but not limited to allocated rent paid to both third parties and an affiliate of the Advisor, equipment, utilities, insurance, travel and entertainment, and other costs) incurred by our Advisor or its affiliates, including, but not limited to, total compensation, benefits and other overhead of all employees involved in the performance of such services. Public Offering Dealer Manager Agreement Dividend Capital Securities LLC, a related party, which we refer to as the “Dealer Manager,” is distributing the shares of our common stock in our public offering on a “best efforts” basis. Our Dealer Manager is a member of the Financial Industry Regulatory Authority, Inc., or FINRA. Our Dealer Manager coordinates our distribution effort and manages our relationships with participating broker-dealers and financial advisors and provides assistance in connection with compliance matters relating to marketing our public offering. On September 16, 2015, we entered into a Second Amended and Restated Dealer Manager Agreement (the “Second Amended Dealer Manager Agreement”) with our Dealer Manager. The Dealer Manager served as dealer manager for the Prior Offering and serves as dealer manager for the Follow-On Offering. The purpose of the Second Amended Dealer Manager Agreement is to engage our Dealer Manager with respect to the Follow-On Offering while still paying dealer manager fees and distribution fees with respect to the Prior Offering. As amended, the Second Amended Dealer Manager Agreement may be made to apply to future offerings by naming them in a schedule to the agreement, with the consent of the Company and our Dealer Manager. Pursuant to the Second Amended Dealer Manager Agreement, we pay (i) selling commissions on Class A shares sold in the primary offering of up to 3.0% of the public offering price per share, (ii) a dealer manager fee which accrues daily in an amount equal to 1/365th of 0.6% of our NAV per share of Class A and Class W shares outstanding and an amount equal to 1/365th of 0.1% of our NAV per share of Class I shares outstanding on such day on a continuous basis, and (iii) a distribution fee which accrues daily in an amount equal to 1/365th of 0.5% of our NAV per Class A share outstanding on such day on a continuous basis. Subject to FINRA limitations on underwriting compensation, we will continue to pay the dealer manager fee and distribution fee until the earlier to occur of the following: (i) a listing of the class of such shares on a national securities exchange or (ii) such shares no longer being outstanding. Pursuant to the Second Amended Dealer Manager Agreement, we may pay to the Dealer Manager a primary dealer fee in the amount of up to 5.0% of the gross proceeds raised from the sale of Class I shares in the primary portion of the Follow-On Offering, provided that (i) the total gross proceeds raised with respect to which the primary dealer fee will apply may not exceed $100,000,000 , subject to further increase by our board of directors, in its discretion; (ii) the primary dealer fee will only be paid with respect to sales made by participating broker-dealers specifically approved by us as being eligible; and (iii) the primary dealer fee will only be paid with respect to sales made at times approved by us. The Dealer Manager may reallow a portion of the primary dealer fee to the participating broker-dealers involved in selling such Class I shares based on the portion of the gross proceeds raised from their customers. The Dealer Manager will consider the primary dealer fee to be underwriting compensation subject to the limits described below. The primary dealer fee will be paid by us and will not be considered a class-specific expense. The Dealer Manager monitors the aggregate amount of underwriting compensation that we and the Advisor pay in connection with the Follow-On Offering and Prior Offering in order to ensure we comply with the underwriting compensation limits of applicable FINRA rules. Accordingly, the dealer manager fee and distribution fee that are payable to our Dealer Manager with respect to an offering (i.e., pursuant to the registration statement for an offering) will cease when, following the completion of the offering, total underwriting compensation in such offering equals 10% of the gross proceeds from the primary portion of the offering. We consider the portion of the dealer manager fee and the distribution fee accruing with respect to Class A, Class W and Class I shares issued during the term of the current offering, and not issued pursuant to a prior public offering, as underwriting compensation with respect to the current offering. In addition, we will cease paying the dealer manager fee and the distribution fee on the earlier to occur of the following: (i) a listing of the class of such shares on a national securities exchange or (ii) such shares no longer being outstanding, for example (without limitation) upon their redemption or other repurchase by us, upon our dissolution, or upon a merger or other extraordinary transaction in which we are a party and in which the shares are exchanged for cash or other securities. The sales commissions, distribution fees, and dealer manager fees may all be reallowed to participating broker dealers who are members of FINRA. Our Dealer Manager may also receive a portion of the organization and offering expense reimbursement amounts described above under “— Compensation to our Advisor”. Our Dealer Manager is presently directly or indirectly majority owned by John A. Blumberg, James R. Mulvihill, Evan H. Zucker, and/or their affiliates. On May 11, 2016, we notified our Dealer Manager that we would pay a primary dealer fee in the amount of up to 5.0% of the gross proceeds raised from the sale of Class I shares in the primary portion of the Follow-On Offering from May 11, 2016 through June 30, 2016, but only with respect to sales made by participating broker-dealers that we specifically approved as being eligible (the "2Q Managed Offering"). On September 19, 2016, we notified our Dealer Manager that we would pay a primary dealer fee in the amount of up to 5.0% of the gross proceeds raised from the sale of Class I shares in the primary portion of the Follow-On Offering from September 19, 2016 through November 30, 2016 (the “3Q Managed Offering”), but only with respect to sales made by participating broker-dealers that we specifically approved as being eligible. On June 23, 2016, our board of directors increased the maximum amount of total gross proceeds raised with respect to which the primary dealer fee will apply to $150.0 million . The maximum primary dealer fee we will pay our Dealer Manager is now $7.5 million , although in the future we may provide for additional primary dealer fee payments. Such amount is subject to further increase by our board of directors, in its discretion. During the year ended December 31, 2016 , we raised approximately $69.3 million pursuant to the 2Q Managed Offering and the 3Q Managed Offering and incurred primary dealer fees of $3.5 million , of which 347,000 was retained by our Dealer Manager. We conducted similar "managed offerings" during the years ended December 31, 2015 and 2014 . See "— Summary of Fees and Other Amounts" for further information regarding the amount of primary dealer fees paid during during the years ended December 31, 2016 , 2015 and 2014 . Property Management Agreement On June 23, 2016, we and Dividend Capital Property Management LLC (the “Property Manager”) agreed to terminate the property management agreement dated January 9, 2006, with the Property Manager (the “Property Management Agreement”) as no services were being provided by the Property Manager under the Property Management Agreement. The Property Manager waived the notice period for termination so that the Property Management Agreement terminated immediately. Independent Director RSU Awards On December 5, 2013, our board of directors approved revised compensation for our independent directors. In connection with the revised compensation plan, at each annual meeting of stockholders the independent directors will automatically, upon election, each receive an annual $10,000 grant of RSUs with respect to Class I shares of our common stock, with the number of RSUs based on the NAV per Class I share as of the end of the day of the annual meeting. Effective June 23, 2016 and June 25, 2015, we granted 4,055 RSUs and 4,116 RSUs to our independent directors, respectively. Restricted Stock Unit Agreements Pursuant to the terms of the Advisor RSU Agreements, we have granted our Advisor approximately 842,000 Company RSUs, of which approximately 412,000 Company RSUs remained unvested and unsettled as of December 31, 2016 . Each Company RSU will, upon vesting, entitle our Advisor to one Class I share of our common stock. The Company RSUs are subject to specified vesting and settlement provisions and, upon settlement in Class I shares of Company common stock, require offsets of advisory fees and expenses otherwise payable from the Company to our Advisor as described further below based on the NAV per Class I share on the grant date of the applicable Company RSU (the weighted average grant-date NAV per Class I share with respect to the unsettled Company RSUs is $7.18 as of December 31, 2016 ). As of December 31, 2016 , our Advisor had approximately 38,000 shares of Class I common stock issued upon settlement of Company RSUs that remained subject to fee offset. The Advisor is expected to redistribute a significant portion of the Company RSUs and/or shares to senior level employees of our Advisor and its affiliates that provide services to us, although the terms of such redistributions (including the timing, amount and recipients) remain solely in the discretion of our Advisor. Vesting and Payment Offset Following specified vesting provisions, an equal percentage of the Company RSUs vest on each of the applicable vesting dates. On each vesting date, an offset amount (each, an “Offset Amount”) is calculated and deducted on a pro rata basis over the next 12 months from the cash payments otherwise due and payable to our Advisor under our then-current Advisory Agreement for any fees or expense reimbursements. The board of directors considers the amount of granted Company RSUs when evaluating the total compensation paid to the Advisor for services provided. Each Offset Amount equals the number of Company RSUs vesting on such date multiplied by the NAV per Class I share publicly disclosed by us (“the “Class I NAV”) as of the end of the grant date (the “Grant Date NAV per Class I Share”). Each Offset Amount is always calculated based on the Grant Date NAV per Class I Share, even beyond the initial Vesting Date. At the end of each 12 -month period following each vesting date, if the Offset Amount has not been fully realized by offsets from the cash payments otherwise due and payable to our Advisor under the Advisory Agreement, our Advisor shall promptly pay any shortfall to us. The chart below shows the Grant Dates, vesting dates, number of unvested shares as of December 31, 2016 , and Grant Date NAV per Class I Share (share amounts in thousands). Award Grant Date Vesting Dates Number of Unvested Shares Grant Date NAV per Class I Share Company RSU 4/7/2014 4/14/17 123 $ 6.96 Company RSU 2/25/2015 4/14/17 30 7.18 Company RSU 2/25/2015 4/13/18 135 7.18 Company RSU 2/4/2016 4/15/19 124 7.41 Total/ weighted average 412 $ 7.18 Termination The Advisor RSU Agreements will automatically terminate upon termination or non-renewal of the Advisory Agreement by any party for any reason. In addition, upon a change in control of us, then either our Advisor or we may immediately terminate the Advisor RSU Agreements. Further, the Advisor may immediately terminate the Advisor RSU Agreements if we exercise certain rights under the Advisor RSU Agreements to replace the Company RSUs with another form of compensation. Upon termination of the Advisor RSU Agreements, our Advisor will promptly pay any unused Offset Amounts to us or, at our Advisor’s election, return Class I shares in equal value based on the Class I NAV as of the date of termination of the Advisor RSU Agreements. In addition, upon termination of the Advisor RSU Agreement, all unvested Company RSUs will be forfeited except that, unless the Advisor RSU Agreements were terminated at the election of our Advisor following a change in control of us or as a result of a premature termination of the Advisory Agreement at our election for cause (as defined in the Advisory Agreement) or upon the bankruptcy of our Advisor, then following such forfeiture of Company RSUs, our Advisor will have the right to acquire from us the number of Class I shares equal to the number of Company RSUs forfeited, in return for a purchase price equal to such number of Class I shares multiplied by the Grant Date NAV per Class I Share. The Advisor must notify us of its election to exercise the foregoing acquisition right within 30 days following the termination of the Advisor RSU Agreements, and the parties will close the transaction within 60 days following the termination of the Advisor RSU Agreements. Dividend Equivalent Payments If our board of directors declares and we pay a cash dividend on Class I shares for any period in which the Company RSUs are outstanding (regardless of whether such Company RSUs are then vested), our Advisor will be entitled to dividend equivalents (the “Dividend Equivalents”) with respect to that cash dividend equal to the cash dividends that would have been payable on the same number of Class I shares as the number of Company RSUs subject to the Advisor RSU Agreements had such Class I shares been outstanding during the same portion of such period as the Company RSUs were outstanding. Any such Dividend Equivalents may be paid in cash or Class I shares, at our Advisor’s election. During the years ended December 31, 2016 , 2015 and 2014 , we recognized approximately $1.1 million , $1.1 million and $653,000 , respectively, as advisory fees expense related to the issuance of approximately 153,000 shares, 153,000 shares and 123,000 shares, respectively, of our Class I common stock, respectively. Amounts reported are based on the NAV per share at the end of each month during the Advisor RSU Agreements. As of December 31, 2016 , the total value related to nonvested awards not yet recognized was approximately $3.1 million , which we expect to recognize between 2017 and 2020 . Restricted Stock Grant Effective February 4, 2016 and February 25, 2015 , we granted 49,340 restricted shares and 49,263 restricted shares of Class I common stock, respectively, to certain employees of our Advisor and its affiliates at a price of $7.41 per share and $7.18 per share, respectively, which will vest ratably over four years. During the years ended December 31, 2016 , 2015 and 2014 , 27,458 shares, 19,848 shares and 11,198 shares, respectively, vested at a weighted average price of $7.39 , $7.23 and $6.96 , respectively, based on our NAV per share as of the vesting dates. During the years ended December 31, 2016 , 2015 and 2014 , we recorded approximately $250,000 , $188,000 and $125,000 within “general and administrative expenses” in the accompanying consolidated statements of income, respectively. Our restricted stock generally vests ratably over a period of three to four years. Private Placements of Delaware Statutory Trust Interests Private Placements In March 2016, we, through our Operating Partnership, initiated a program to raise capital in private placements exempt from registration under the Securities Act of 1933, as amended (“Private Placements”), through the sale of beneficial interests (“Interests”) in specific Delaware statutory trusts holding real properties, including properties currently indirectly owned by our Operating Partnership (the “DST Program”). From 2006 through 2009, we, through our subsidiaries, conducted similar private placement offerings of fractional interests in which it raised a total of $183.1 million in gross proceeds. These fractional interests were all subsequently acquired by our Operating Partnership in exchange for an aggregate of 17.7 million OP Units. As of December 31, 2016 , we had sold approximately $2.5 million in Interests, which we include in "other liabilities" in our accompanying balance sheets. Each Private Placement will offer Interests in one or more real properties placed into one or more Delaware statutory trust(s) by our Operating Partnership or its affiliates (“DST Properties”). We anticipate that these Interests may serve as replacement properties for investors seeking to complete like-kind exchange transactions under Section 1031 of the Internal Revenue Code of 1986, as amended (the “Code”). Additionally, properties underlying Interests sold to investors pursuant to such Private Placements will be leased-back by an indirect wholly owned subsidiary of our Operating Partnership on a long term basis of up to 29 years. The lease agreements are expected to be fully guaranteed by our Operating Partnership. Additionally, our Operating Partnership will retain a fair market value purchase option (“FMV Option”) giving it the right, but not the obligation, to acquire the Interests from the investors at a later time in exchange for OP Units. DST Program Dealer Manager Agreement In connection with the DST Program, in March 2016, Dividend Capital Exchange LLC (“DCX”), a wholly owned subsidiary of our taxable REIT subsidiary that is wholly owned by our Operating Partnership, entered into a Dealer Manager Agreement with our Dealer Manager, pursuant to which our Dealer Manager agreed to conduct Private Placements for Interests reflecting an indirect ownership of up to $500 million of Interests. DCX will pay certain up-front fees and reimburse certain related expenses to the Dealer Manager with respect to capital raised through any such Private Placements. DCX is obligated to pay our Dealer Manager a dealer manager fee of up to 1.5% of gross equity proceeds raised and a commission of up to 5% of gross equity proceeds raised through the Private Placements. The Dealer Manager may re-allow such commissions and a portion of such dealer manager fee to participating broker dealers. In addition, we, or our subsidiaries, are obligated to pay directly or reimburse our Advisor and our Dealer Manager if they pay on our behalf, any organization and offering expenses (other than selling commissions and the dealer manager fee) as and when incurred. These expenses may include reimbursements for the bona fide due diligence expenses of participating broker-dealers, supported by detailed and itemized invoices, and similar diligence expenses of investment advisers, legal fees of our Dealer Manager, reimbursements for customary travel, lodging, meals and reasonable entertainment expenses of registered persons associated with our Dealer Manager, the cost of educational conferences held by us, including costs reimbursement for registered persons associated with our Dealer Manager and registered representatives of participating broker-dealers to attend educational conferences sponsored by us, and attendance fees and costs reimbursement for registered persons associated with our Dealer Manager to attend seminars conducted by participating broker-dealers and promotional items. We intend to recoup the costs of the selling commissions and dealer manager fees described above through a purchase price “mark-up” of the initial estimated fair value of the DST Properties to be sold to investors, thereby placing the economic burden of these up-front fees on the investors purchasing such Interests. In addition, to offset some or all of our organization and offering expenses associated with the Private Placements, we will add a purchase price mark-up of the estimated fair value of the DST Properties to be sold to investors in the amount of 1.5% of the gross equity proceeds. Collectively, these purchase price mark-ups total up to 8% of the gross equity proceeds raised in the Private Placements. Additionally, we will be paid, by investors purchasing Interests, a non-accountable reimbursement equal to 1.0% of gross equity proceeds for real estate transaction costs that we expect to incur in selling or buying these Interests. Also, investors purchasing Interests will be required to pay their own respective closing costs upon the initial sale of the interests. Limited Partnership Agreement In connection with the launch of the DST Program, the Company, on behalf of itself as general partner and on behalf of all the limited partners thereto, entered into the Fifth Amended and Restated Limited Partnership Agreement of our Operating Partnership, dated as of March 2, 2016, which was further amended on August 2, 2016 (the “Amended and Restated Operating Partnership Agreement”). The Amended and Restated Operating Partnership Agreement amends the prior operating partnership agreement by establishing two series of Class E OP Units, with different redemption and registration rights. The currently existing third-party holders of Class E OP Units will now hold Series 1 Class E OP Units, and will continue to have the same redemption and registration rights they had previously, which include the right, in certain circumstances to require our Operating Partnership to redeem the OP Units for Class E shares of the Company or cash. Any purchasers of Interests in the DST Program that ultimately acquire OP Units through the FMV Option will acquire Series 2 Class E OP Units, which will have similar redemption and registration rights to those of the holders of Series 1 Class E OP Units, except that their redemption rights will in certain circumstances require our Operating Partnership to redeem the OP Units for either Class I shares of the Company or cash (as determined by our Operating Partnership in its sole discretion). In addition, the Amended and Restated Operating Partnership Agreement provides that a redemption fee of 1.5% of the shares otherwise payable to a limited partner upon redemption of Series 2 Class E Units will be paid to an affiliate of the Manager (defined below). Holders of Series 1 or Series 2 Class E OP Units cannot require us to redeem their Series 1 or Series 2 Class E OP Units with cash. Delaware Statutory Trust Agreement DCX Manager LLC (the “Manager”), an affiliate of our Advisor, will be engaged to act as the manager of each Delaware statutory trust holding a DST Property. Although the intention is to sell 100% of the interests to third parties, DCX may hold an interest for a period of time and therefore could be subject to the following description of fees and reimbursements paid to the Manager. The Manager will have primary responsibility for performing administrative actions in connection with the trust and any DST Property and has the sole power to determine when it is appropriate for a trust to sell a DST Property. The Manager will be entitled to the following payments from the trust: (i) a management fee equal to a stated percentage (e.g., 1.0%) of the gross rents payable to the trust, with such amount to be set on a deal-by-deal basis, (ii) a disposition fee of 1.0% of the gross sales price of any DST Property sold to a third party, and (iii) reimbursement of certain expenses associated with the establishment, maintenance and operation of the trust and DST Properties. Additionally, the Manager or its affiliate may earn a 1.0% loan fee for any financing arrangement sourced, negotiated and executed in connection with the DST Program. This loan fee only is payable to the Manager by new investors that purchase Interests and therefore is not paid by the Company or its affiliates. Summary of Fees and Other Amounts The following table summarizes fees and other amounts earned by our Advisor and its related parties in connection with services performed for us during the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Advisory fees (1) $ 14,857 $ 17,083 $ 15,919 Other reimbursements paid to our Advisor (2) 8,368 9,008 8,287 Other reimbursements paid to our Dealer Manager 396 441 591 Advisory fees related to the disposition of real properties 2,140 4,962 2,064 Development management fee (3) 31 88 181 Primary dealer fee (4) 3,465 2,540 2,197 Selling commissions 100 114 187 Dealer manager fees 381 258 121 Distribution fees 70 50 28 Total $ 29,808 $ 34,544 $ 29,575 _______________________________ (1) Amounts reported for the years ended December 31, 2016 , 2015 and 2014 include approximately $1.1 million , $1.1 million and $653,000 respectively, that we were not obligated to pay in consideration of the issuance of Company RSUs to our Advisor. (2) Other reimbursements paid to our Advisor include reimbursements for a portion of compensation costs of employees of our Advisor related to activities for which our Advisor does not otherwise receive a separate fee. We reimbursed our Advisor approximately $6.8 million , $7.3 million and $6.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. These reimbursements include a portion of the compensation costs for certain of our named executives. The balance of such reimbursements are made up primarily of other general overhead and administrative expenses, including, but not limited to, allocated rent paid to both third parties and affiliates of our Advisor, equipment, utilities, insurance, travel and entertainment, and other costs. (3) Pursuant to our amended Advisory Agreement effective as of June 23, 2016, our Advisor will no longer receive a development management fee in exchange for providing development management services. (4) Amounts reported represent primary dealer fees we paid to our Dealer Manager based on the gross proceeds raised by participating broker-dealers pursuant to certain selected dealer agreements. Of the primary dealer fee earned during the years ended December 31, 2016 , 2015 and 2014 , our Dealer Manager reallowed approximately $3.1 million , $2.3 million and $2.0 million , respectively, to participating third-party broker-dealers and retained approximately $347,000 , $254,000 and $220,000 , respectively. See the accompanying consolidated balance sheets for the amounts we owed to our Advisor and affiliates of our Advisor for such services and reimbursement of certain expenses as of December 31, 2016 and December 31, 2015 . Pursuant to the Advisory Agreement, we accrue the advisory fee on a daily basis and pay our Advisor amounts due subsequent to each month-end. In addition, we recorded a liability of approximately $3.9 million for dealer manager and distribution fees that we estimate that we may pay to our Dealer Manager in future periods for shares of our common stock sold in our Follow-On Offering as of December 31, 2016 . We anticipate that our Dealer Manager will reallow a significant portion of such fees to third-party broker dealers. Product Specialists During the year ended December 31, 2012, our Advisor entered into a product specialist agreement with BCG Advisors LLC (“BCG”), in connection with advisory services related to our investments in real estate securities assets. Pursuant to this agreement, a portion of the asset management fee that our Advisor receives from us related to real estate securities investments is reallowed

Net Income Per Common Share

Net Income Per Common Share	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Net Income Per Common Share	NET INCOME PER COMMON SHARE Reconciliations of the numerator and denominator used to calculate basic net income per common share to the numerator and denominator used to calculate diluted net income per common share for the years ended December 31, 2016 , 2015 and 2014 are described in the following table (amounts in thousands, except per share information): For the Year Ended December 31, 2016 2015 2014 Numerator Income from continuing operations $ 55,048 $ 131,659 $ 3,990 Income from continuing operations attributable (5,072 ) (7,404 ) (340 ) Income from continuing operations 49,976 124,255 3,650 Dilutive noncontrolling interests share 3,883 8,632 233 Numerator for diluted earnings $ 53,859 $ 132,887 $ 3,883 Income from discontinued operations — — 30,004 Income from discontinued operations — — (4,462 ) Income from discontinued operations — — 25,542 Dilutive noncontrolling interests share — — 1,915 Numerator for diluted earnings $ — $ — $ 27,457 Denominator Weighted average shares outstanding-basic 159,648 175,938 178,273 Incremental weighted average shares effect 12,398 12,851 12,718 Weighted average shares outstanding-diluted 172,046 188,789 190,991 INCOME PER COMMON SHARE-BASIC Net income from continuing operations $ 0.31 $ 0.70 $ 0.02 Net income from discontinued operations — — 0.14 Net income $ 0.31 $ 0.70 $ 0.16

Segment Information

Segment Information	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Segment Information	SEGMENT INFORMATION We have three reportable operating segments, which include our real property operating sectors (office, industrial, and retail), and we measure our profit and loss of our operating segments based on net operating income (“NOI”). We organize and analyze the operations and results of each of these segments independently, due to inherently different considerations for each segment. Such considerations include, but are not limited to, the nature and characteristics of the investment, and investment strategies and objectives. Specifically, the physical characteristics of our buildings, the related operating characteristics, the geographic markets, and the type of tenants are inherently different for each of our segments. The following table sets forth revenue and NOI of our segments for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, Revenue NOI (unaudited) 2016 2015 2014 2016 2015 2014 Real property (1) Office $ 126,782 $ 137,204 $ 139,245 $ 84,300 $ 97,441 $ 104,533 Industrial 6,073 8,672 23,307 4,323 6,755 20,780 Retail 82,372 72,402 61,649 61,017 54,492 47,891 Total $ 215,227 $ 218,278 $ 224,201 $ 149,640 $ 158,688 $ 173,204 _______________________________ (1) Excludes results of operations of real properties categorized as discontinued operations. We consider NOI to be an appropriate supplemental financial performance measure because NOI reflects the specific operating performance of our real properties, and excludes certain items that are not considered to be controllable in connection with the management of each property, such as depreciation and amortization, general and administrative expenses, advisory fees, acquisition-related expenses, interest and other income, interest expense, (gain) loss on extinguishment of debt and financing commitments, gain on the sale of real property, and noncontrolling interests. However, NOI should not be viewed as an alternative measure of our financial performance as a whole, since it excludes such items that could materially impact our results of operations. Further, our NOI may not be comparable to that of other real estate companies, as they may use different methodologies for calculating NOI. Therefore, we believe net income, as defined by GAAP, to be the most appropriate measure to evaluate our overall financial performance. The following table is a reconciliation of our reported net income attributable to common stockholders to our unaudited NOI for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Net income attributable to common $ 49,976 $ 124,255 $ 29,192 Debt-related income (943 ) (6,922 ) (7,396 ) Real estate depreciation and amortization expense 80,105 83,114 88,994 General and administrative expenses 9,450 10,720 11,108 Advisory fees, related party 14,857 17,083 15,919 Acquisition-related expenses 667 2,644 1,205 Impairment of real estate property 2,677 8,124 9,500 Interest and other income (2,207 ) (2,192 ) (1,168 ) Interest expense 40,782 47,508 61,903 (Gain) loss on extinguishment of debt and financing commitments (5,136 ) 1,168 63 Gain on sale of real property (45,660 ) (134,218 ) (10,914 ) Discontinued operations — — (30,004 ) Net income attributable to noncontrolling interests 5,072 7,404 4,802 Net operating income $ 149,640 $ 158,688 $ 173,204 The following table reflects our total assets by business segment as of December 31, 2016 and December 31, 2015 (amounts in thousands). As of December 31, 2016 2015 Segment assets: Net investments in real property Office $ 825,961 $ 1,027,132 Industrial 57,651 61,231 Retail 827,799 785,854 Total segment assets, net 1,711,411 1,874,217 Non-segment assets: Debt-related investments, net 15,209 15,722 Cash and cash equivalents 13,864 15,769 Other non-segment assets (1) 43,244 55,183 Total assets $ 1,783,728 $ 1,960,891 _______________________________ (1) Other non-segment assets primarily consist of corporate assets including restricted cash and receivables, including straight-line rent receivable.

Income Taxes

Income Taxes	12 Months Ended
	Dec. 31, 2016
Income Tax Disclosure [Abstract]
Income Taxes	INCOME TAXES We operate in a manner intended to qualify for treatment as a REIT for U.S. federal income tax purposes. As a REIT, we generally will not be subject to federal income taxation at the corporate level to the extent we distribute 100% of our REIT taxable income annually, as defined in the Code, to our stockholders and satisfy other requirements. To continue to qualify as a REIT for federal tax purposes, we must distribute at least 90% of our REIT taxable income annually. No material provisions have been made for federal income taxes in the accompanying financial statements. We had a gross deferred tax asset of approximately $4.4 million as of both December 31, 2016 and 2015 , which is offset by a full valuation allowance. The tax years 2013 through 2016 remain open to examination by the major taxing jurisdictions to which we are subject.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	COMMITMENTS AND CONTINGENCIES Environmental Matters A majority of the properties we acquire are subjected to environmental reviews either by us or the previous owners. In addition, we may incur environmental remediation costs associated with certain land parcels we may acquire in connection with the development of the land. We have acquired certain properties in urban and industrial areas that may have been leased to or previously owned by commercial and industrial companies that discharged hazardous materials. We may purchase various environmental insurance policies to mitigate our exposure to environmental liabilities. Due to the uncertainty regarding our exposure to environmental liabilities and the timing and nature of settlement of any such liabilities, we cannot estimate the effect of such potential environmental remediation on our business, financial condition, or results of operations.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data (Unaudited)	QUARTERLY FINANCIAL DATA (UNAUDITED) The following tables present selected unaudited quarterly financial data for each quarter during the years ended December 31, 2016 and 2015 (amounts in thousands, except per share information). Certain reclassifications have been made to prior period results to conform to the current presentation. Certain totals and subtotals within the following table may not sum due to de minimus rounding adjustments. The following disclosures exclude the results from discontinued operations. For the Quarter Ended For the Year Ended December 31, 2016 March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Rental revenue $ 55,544 $ 52,702 $ 53,258 $ 53,723 $ 215,227 Debt-related income 238 237 235 233 943 Total revenue 55,782 52,939 53,493 53,956 216,170 Total operating expenses (43,177 ) (42,313 ) (44,567 ) (43,286 ) (173,343 ) Other income (expenses) 35,633 (10,491 ) (5,608 ) (7,313 ) 12,221 Net income 48,238 135 3,318 3,357 55,048 Net income attributable to noncontrolling interests (4,456 ) (18 ) (353 ) (245 ) (5,072 ) NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 43,782 $ 117 $ 2,965 $ 3,112 $ 49,976 NET INCOME PER BASIC AND DILUTED COMMON SHARE $ 0.27 $ — $ 0.02 $ 0.02 $ 0.31 For the Quarter Ended For the March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Rental revenue $ 59,379 $ 51,075 $ 52,854 $ 54,970 $ 218,278 Debt-related income 3,203 1,584 807 1,328 6,922 Total revenue 62,582 52,659 53,661 56,298 225,200 Total operating expenses (44,803 ) (41,168 ) (49,406 ) (45,898 ) (181,275 ) Other income (expenses) 114,422 (11,384 ) (5,680 ) (9,624 ) 87,734 Net income (loss) 132,201 107 (1,425 ) 776 131,659 Net (income) loss attributable to noncontrolling interests (8,618 ) (37 ) 1,297 (46 ) (7,404 ) NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 123,583 $ 70 $ (128 ) $ 730 $ 124,255 NET INCOME (LOSS) PER BASIC AND DILUTED COMMON SHARE $ 0.69 $ — $ — $ 0.01 $ 0.70

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Mortgage Note Borrowing On January 10, 2017, (the "Effective Date") we entered into a senior mortgage floating rate non-amortizing loan with New York Life Insurance Company (the "3 Second Street Mortgage Note"). The $146.6 million 3 Second Street Mortgage Note is secured by one office property in our Northern New Jersey market. We received proceeds of $127.0 million on the Effective Date, and we can request the remaining proceeds anytime after the Effective Date but prior to October 10, 2019 as reimbursement for certain approved capital expenditures, tenant improvement costs and leasing commissions. The 3 Second Street Mortgage Note matures in January 2020 and includes two one -year extension options subject to certain provisions. The 3 Second Street Mortgage Note interest rate is based upon LIBOR plus a margin ranging from 2.00% to 2.25% . The 3 Second Street Mortgage Note contains certain restrictions and covenants that are customary for loans of this nature, including certain restrictions regarding change in control of the underlying collateral and/or borrowers. The 3 Second Street Mortgage Note permits voluntary prepayment of the loan on or after August 10, 2017 subject to (i) payment of applicable LIBOR breakage fees and (ii) payment of the applicable prepayment premium if prepaid on or prior to January 10, 2018, which is between 0.0% and 2.25% of the principal amount prepaid depending on the amount of time that has lapsed between August 10, 2017 and the date of the voluntary prepayment. On January 9, 2017, pursuant to the 3 Second Street Mortgage Note, we entered into an interest rate protection agreement with a notional amount of $146.6 million and a LIBOR strike rate of 3.0% with the Commonwealth Bank of Australia that expires on January 10, 2019. The initial proceeds of $127.0 million from the 3 Second Street Mortgage Note will be used (i) to repay the Eastern Retail Portfolio Mortgage Note (as defined below) and (ii) for general corporate purposes. Repayment of Mortgage Note On January 10, 2017, we repaid a $110.0 million mortgage note borrowing secured by three retail properties (the "Eastern Retail Portfolio Mortgage Note") in full prior to its scheduled maturity within the open prepayment period using proceeds from the 3 Second Street Mortgage Note. The Eastern Retail Portfolio Mortgage Note had an interest rate of 5.51% and a maturity date of June 11, 2017. Lease Expiration On January 31, 2017, the Sybase lease was terminated. The Sybase lease comprised $18.7 million , or 11% , of our total annualized base rent as of December 31, 2016 . For information regarding other financing transactions that occurred subsequent to December 31, 2016 , see “Subsequent Events” in “Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations” of this Annual Report on Form 10-K.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate and Accumulated Depreciation	Dividend Capital Diversified Property Fund Inc. Schedule III — Real Estate and Accumulated Depreciation As of December 31, 2016 (dollar amounts in thousands) Initial Cost to Company Gross Amount Carried at December 31, 2016 Property Market No. of Buildings Encumbrances (1) Land Buildings and Improvements (2) Total Costs Cost Capitalized or Adjustments Subsequent to Acquisition (4) Land Buildings and Improvements (2) Total Costs (3, 4) Accumulated Depreciation (4) Acquisition Date Depreciable Life (years) Office Properties: Jay Street Silicon Valley, CA 3 $ — $ 13,859 $ 21,974 $ 35,833 $ 6,852 $ 13,859 $ 28,826 $ 42,685 $ 10,779 6/28/2006 1-40 Bala Pointe Philadelphia, PA 1 — 10,115 27,516 37,631 9,277 10,115 36,793 46,908 13,869 8/28/2006 1-40 1300 Connecticut Washington, DC 1 52,500 25,177 41,250 66,427 4,058 25,177 45,308 70,485 20,999 3/10/2009 2-40 655 Montgomery San Francisco, CA 1 — 40,327 73,961 114,288 7,538 32,632 89,194 121,826 17,567 11/7/2013 1-40 1st Avenue Plaza Denver, CO 2 — 15,713 65,252 80,965 2,195 15,713 67,447 83,160 9,537 8/22/2014 1-40 Rialto Austin, TX 2 — 5,094 32,652 37,746 692 5,094 33,344 38,438 4,420 1/15/2015 1-40 CityView Austin, TX 2 — 4,606 65,250 69,856 1,994 4,606 67,244 71,850 6,063 4/24/2015 1-40 Joyce Blvd Fayetteville, AR 1 — 2,699 8,996 11,695 (1 ) 2,699 8,995 11,694 3,239 9/28/2007 10-40 Eden Prairie Minneapolis/St Paul, MN 1 — 3,538 25,865 29,403 112 3,538 25,977 29,515 7,732 10/3/2008 5-40 Austin-Mueller Healthcare Austin, TX 1 — 2,663 42,315 44,978 5 2,663 42,320 44,983 12,973 12/23/2008 11-40 Campus Road Office Center Princeton, NJ 1 — 5,302 45,773 51,075 249 5,302 46,022 51,324 13,237 11/3/2009 5-40 Preston Sherry Plaza Dallas, TX 1 33,000 7,500 22,303 29,803 7,960 7,500 30,263 37,763 11,521 12/16/2009 1-40 Harborside Plaza Northern New Jersey 1 — 16,800 193,742 210,542 20,487 16,800 214,229 231,029 79,502 6/25/2010 3-40 Sybase Drive East Bay, CA 1 — 8,400 136,797 145,197 179 8,400 136,976 145,376 64,638 6/25/2010 7-40 Venture Corporate Center South Florida 3 — 12,047 34,151 46,198 611 12,048 34,761 46,809 4,862 8/6/2015 1-40 Bank of America Tower South Florida 1 — 5,030 30,917 35,947 (614 ) 5,030 30,303 35,333 2,278 12/11/2015 1-40 Total Office Properties 23 $ 85,500 $ 178,870 $ 868,714 $ 1,047,584 $ 61,594 $ 171,176 $ 938,002 $ 1,109,178 $ 283,216 Initial Cost to Company Gross Amount Carried at December 31, 2016 Property Market No. of Buildings Encumbrances (1) Land Buildings and Improvements (2) Total Costs Cost Capitalized or Adjustments Subsequent to Acquisition (4) Land Buildings and Improvements (2) Total Costs (3, 4) Accumulated Depreciation (4) Acquisition Date Depreciable Life (years) Industrial Properties: Shiloh Road Dallas, TX 3 $ — $ 5,162 $ 30,192 $ 35,354 $ 574 $ 5,165 $ 30,763 $ 35,928 $ 12,174 12/21/2006 6-40 7000 Riverport Louisville, KY 1 — 1,124 6,821 7,945 1,162 1,124 7,983 9,107 2,853 9/17/2008 1-40 7050 Riverport Louisville, KY 1 — 672 3,862 4,534 259 672 4,121 4,793 1,718 9/17/2008 5-40 7201 Riverport Louisville, KY 1 — 1,130 6,614 7,744 716 1,130 7,330 8,460 2,659 9/17/2008 3-40 South Columbia Central Kentucky 1 — 730 25,092 25,822 5,018 730 30,110 30,840 12,072 6/25/2010 4-40 Total Industrial Properties 7 $ — $ 8,818 $ 72,581 $ 81,399 $ 7,729 $ 8,821 $ 80,307 $ 89,128 $ 31,476 Initial Cost to Company Gross Amount Carried at December 31, 2016 Property Market No. of Buildings Encumbrances (1) Land Buildings and Improvements (2) Total Costs Cost Capitalized or Adjustments Subsequent to Acquisition (4) Land Buildings and Improvements (2) Total Costs (3, 4) Accumulated Depreciation (4) Acquisition Date Depreciable Life (years) Retail Properties: Bandera Road San Antonio, TX 1 $ — $ 8,221 $ 23,472 $ 31,693 $ 379 $ 8,221 $ 23,851 $ 32,072 $ 8,060 2/1/2007 1-40 Beaver Creek Raleigh, NC 1 26,200 13,017 31,375 44,392 1,322 13,017 32,697 45,714 10,258 5/11/2007 1-40 Centerton Square Philadelphia, PA 1 67,800 26,488 76,838 103,326 1,982 26,488 78,820 105,308 26,424 5/11/2007 1-40 CB Square Jacksonville, FL 1 — 3,768 16,660 20,428 (871 ) 3,768 15,789 19,557 4,387 6/27/2007 2-40 Braintree Greater Boston 1 — 9,270 31,266 40,536 878 9,270 32,144 41,414 10,532 8/1/2007 1-40 Holbrook Greater Boston 1 — 3,828 10,073 13,901 487 3,828 10,560 14,388 4,339 8/1/2007 1-40 Kingston Greater Boston 1 10,574 8,580 12,494 21,074 2,345 8,580 14,839 23,419 5,180 8/1/2007 1-40 Manomet Greater Boston 1 — 1,890 6,480 8,370 379 1,890 6,859 8,749 2,420 8/1/2007 2-40 Orleans Greater Boston 1 — 8,780 23,683 32,463 362 8,780 24,045 32,825 7,735 8/1/2007 1-40 Sandwich Greater Boston 1 15,825 7,380 25,778 33,158 693 7,380 26,471 33,851 7,941 8/1/2007 1-40 Wareham Greater Boston 1 24,400 13,130 27,030 40,160 2,205 13,130 29,235 42,365 9,584 8/1/2007 1-40 Abington Greater Boston 1 — 14,396 594 14,990 — 14,396 594 14,990 594 8/1/2007 — Hyannis Greater Boston 1 — 10,405 917 11,322 — 10,405 917 11,322 469 8/1/2007 18-68 Mansfield Greater Boston 1 — 5,340 16,490 21,830 — 5,340 16,490 21,830 4,764 8/1/2007 16-86 Meriden Greater Boston 1 — 6,560 22,014 28,574 (1 ) 6,559 22,014 28,573 6,705 8/1/2007 13-43 Weymouth Greater Boston 2 16,000 5,170 19,396 24,566 (251 ) 4,913 19,402 24,315 6,248 8/1/2007 4-40 Whitman 475 Bedford Street Greater Boston 1 — 3,610 11,682 15,292 — 3,610 11,682 15,292 3,489 8/1/2007 16-56 Brockton Eastway Plaza Greater Boston 1 — 2,530 2,074 4,604 1,016 2,530 3,090 5,620 1,268 8/1/2007 1-40 Cohasset Greater Boston 1 — 3,920 7,765 11,685 1,068 3,920 8,833 12,753 2,860 8/1/2007 1-40 Hanover Greater Boston 1 — 1,490 5,084 6,574 905 1,490 5,989 7,479 1,917 8/1/2007 1-40 Brockton Westgate Plaza Greater Boston 1 — 3,650 6,507 10,157 273 3,650 6,780 10,430 2,503 8/1/2007 2-40 Harwich Greater Boston 1 5,035 5,290 8,814 14,104 — 5,290 8,814 14,104 2,521 10/18/2007 21-40 New Bedford Greater Boston 1 7,221 3,790 11,152 14,942 — 3,790 11,152 14,942 3,054 10/18/2007 22-40 Norwell Greater Boston 1 4,392 5,850 14,547 20,397 — 5,850 14,547 20,397 4,263 10/18/2007 15-65 Greater DC Retail Washington, DC 1 70,000 19,779 42,515 62,294 573 19,781 43,086 62,867 15,583 4/6/2009 1-40 Springdale Greater Boston 1 — 11,866 723 12,589 8 11,866 731 12,597 385 2/18/2011 6-62 Saugus Greater Boston 1 — 3,783 9,713 13,496 120 3,783 9,833 13,616 4,529 3/17/2011 3-40 Durgin Square Greater Boston 2 — 7,209 21,055 28,264 1,191 7,209 22,246 29,455 3,604 5/28/2014 1-40 Salt Pond Greater Boston 2 — 8,759 40,233 48,992 (324 ) 8,759 39,909 48,668 4,707 11/4/2014 1-40 South Cape Greater Boston 6 — 9,936 27,552 37,488 (10 ) 10,307 27,171 37,478 2,928 3/18/2015 1-40 Shenandoah South Florida 3 10,523 10,501 27,397 37,898 12 10,501 27,409 37,910 2,308 8/6/2015 1-40 Chester Springs Northern New Jersey 4 — 7,376 51,155 58,531 428 7,376 51,583 58,959 3,879 10/8/2015 1-40 Yale Village Tulsa, OK 4 — 3,492 30,655 34,147 (109 ) 3,492 30,546 34,038 1,319 12/9/2015 3-40 Suniland Shopping Center South Florida 4 — 34,804 33,902 68,706 13 34,804 33,915 68,719 1,462 5/27/2016 1-40 Total Retail Properties 53 $ 257,970 $ 293,858 $ 697,085 $ 990,943 $ 15,073 $ 293,973 $ 712,043 $ 1,006,016 $ 178,219 Grand Total 83 $ 343,470 $ 481,546 $ 1,638,380 $ 2,119,926 $ 84,396 $ 473,970 $ 1,730,352 $ 2,204,322 $ 492,911 _______________________________ (1) Encumbrances represents mortgage debt principal balances encumbering each property as of December 31, 2016 . (2) Building and improvements include intangible lease assets. (3) As of December 31, 2016 , the aggregate cost for federal income tax purposes of investments in real property was approximately $1.7 billion (unaudited). (4) Amount is presented net of impairments and other write-offs of tenant-related assets that were recorded at acquisition as part of our purchase price accounting. Such write-offs are the results of lease expirations and terminations. The following table summarizes activity for real estate and accumulated depreciation for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Investments in real estate: Balance at the beginning of the year $ 2,380,174 $ 2,472,926 $ 2,570,480 Acquisitions of operating properties 68,706 357,811 158,221 Improvements 30,006 25,557 12,512 Basis of operating properties disposed of (271,887 ) (467,996 ) (258,787 ) Impairment of real property (2,677 ) (8,124 ) (9,500 ) Balance at the end of the year (1) $ 2,204,322 $ 2,380,174 $ 2,472,926 Accumulated depreciation: Balance at the beginning of the year $ 505,957 $ 523,246 $ 502,847 Real estate depreciation and amortization expense 80,105 83,114 88,994 Above-market lease assets amortization expenses 5,515 5,216 6,708 Accumulated depreciation and amortization written off (2) (98,666 ) (105,619 ) (75,303 ) Balance at the end of the year $ 492,911 $ 505,957 $ 523,246 _______________________________ (1) Amounts for the year ended December 31, 2014 include approximately $30.1 million of investments in real estate related to properties classified as held for sale. (2) Amounts represent accumulated depreciation and amortization written off due to real property dispositions and early lease termination.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Policy)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation	Principles of Consolidation Due to our control of our Operating Partnership through our sole general partnership interest and the limited rights of the limited partners, we consolidate our Operating Partnership, and limited partner interests not held by us are reflected as noncontrolling interests in the accompanying consolidated financial statements (herein referred to as “financial statements”). All significant intercompany accounts and transactions have been eliminated in consolidation. Our financial statements also include the accounts of our consolidated subsidiaries and joint ventures through which we are the primary beneficiary, when such subsidiaries and joint ventures are variable interest entities, or through which we have a controlling interest. In determining whether we have a controlling interest in a joint venture and the requirement to consolidate the accounts of that entity, we consider factors such as ownership interest, board representation, management representation, authority to make decisions, and contractual and substantive participating rights of the partners/members as well as whether the entity is a variable interest entity in which we have the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses that could potentially be significant to the entity or the right to receive benefits that could potentially be significant to the entity. Our Operating Partnership qualifies as a variable interest entity for accounting purposes and substantially all of the assets of the Company are held by our Operating Partnership, which, subject to certain Operating Partnership and subsidiary level financing restrictions, can be used to settle its obligations. Creditors of certain liabilities of our Operating Partnership have recourse to the Company. All joint ventures in which we have investments are variable interest entities. All of our investments in joint ventures represent our interests in real estate partnerships, formed for the purpose of acquiring, leasing, managing, holding for investment, selling and otherwise dealing with real property investments. Our involvement with our joint ventures affects our financial position, financial performance and cash flows in ways similar to direct ownership of real property investment. We own a significantly disproportionate majority of the ownership interests of our joint ventures. In each of our joint ventures, our joint venture partner performs the day-to-day management of the real properties owned by the respective joint ventures. However, in each of our joint ventures, we approve the activities that most significantly impact the joint venture’s economic performance. Due to our substantive approval rights and our exposure to the economic returns and losses of each of the joint ventures, we are the primary beneficiary of each of our joint ventures. Based on these considerations, we consolidate all of our investments in joint ventures. The accompanying consolidated balance sheets include approximately $48.2 million and $76.9 million , after accumulated depreciation and amortization, in consolidated real property variable interest entity investments as of December 31, 2016 and 2015 , respectively. The accompanying consolidated balance sheets include approximately $50.1 million in consolidated mortgage notes in variable interest entity investments as of December 31, 2015 . There were no mortgage notes related to variable interest entities as of December 31, 2016 . Judgments made by us with respect to our level of influence or control of an entity and whether we are the primary beneficiary of a variable interest entity involve consideration of various factors, including the form of our ownership interest, the size of our investment (including loans), our ability to direct the activities of the entity, and our obligation to absorb the losses of, or, our right to receive benefits from the entity. Our ability to correctly assess our influence or control over an entity affects the presentation of these investments in our financial statements and, consequently, our financial position and specific items in our results of operations that are used by our stockholders, lenders and others in their evaluation of us. The maximum risk of loss related to our investment in these consolidated variable interest entities is limited to our recorded investments in such entities. The creditors of the consolidated variable interest entities do not have recourse to our general credit. Generally, we consolidate real estate partnerships and other entities that are not variable interest entities when we own, directly or indirectly, a majority voting interest in the entity.
Reclassifications	Reclassifications Certain previously reported amounts have been reclassified to conform to the current period financial statement presentation. In April 2015, the Financial Accounting Standards Board (the “FASB”) issued Accounting Standards Update 2015-03 (“ASU 2015-03”), which requires 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 debt liability. The guidance is effective for all reporting periods beginning after December 15, 2015 and requires retrospective application.
Investments	Investments Real Property Costs associated with the acquisition of real property, including acquisition fees paid to our Advisor, are expensed as incurred. In addition, we estimate the fair value of contingent consideration and contingencies related to acquisitions of real property in determining the total cost of the property acquired. Subsequent changes in the fair value of such contingent consideration are recorded either as a gain or loss in our consolidated statements of income. Contingencies are subsequently adjusted through the consolidated statements of income when new information becomes available indicating that settlement of a contingent liability is probable and can be estimated at an amount greater than the acquisition date fair value, or the contingency is resolved, in which case the contingent asset or liability is derecognized. Costs associated with the development and improvement of our real property assets are capitalized as incurred. Costs incurred in making repairs and maintaining real estate assets are expensed as incurred. During the land development and construction periods, we capitalize interest costs, insurance, real estate taxes and certain general and administrative costs if such costs are incremental and identifiable to a specific activity to get the asset ready for its intended use. The results of operations for acquired real property are included in our accompanying statements of income from their respective acquisition dates. Upon acquisition, the total cost of a property is allocated to land, building, building and land improvements, tenant improvements and intangible lease assets and liabilities. The purchase price allocation of the total cost to land, building, building improvements, tenant improvements, intangible lease assets and intangible lease liabilities is based on our estimate of the property’s as-if vacant fair value. The as-if vacant fair value is calculated by using all available information such as the replacement cost of such asset, appraisals, property condition reports, market data and other related information. The difference between the fair value and the face value of debt assumed in an acquisition is recorded as an adjustment to the purchase price allocation. The allocation of the total cost of a property to an intangible lease asset includes the value associated with the in-place leases, which may include lost rent, leasing commissions, tenant improvements, legal and other costs. We record acquired “above-market” and “below-market” leases at their fair value equal to the difference between the contractual amounts to be paid pursuant to each in-place lease and our estimate of fair market lease rates for each corresponding in-place lease, measured over a period equal to the remaining term of the lease for above-market leases and the remaining term of the lease plus the term of any below-market fixed-rate renewal option periods for below-market leases. In addition, we allocate a portion of the purchase price of an acquired property to the estimated value of customer relationships, if any. As of December 31, 2016 , we had not recognized any estimated value to customer relationships. The following table summarizes the amounts that we have incurred in amortization expense for intangible lease assets and adjustments to rental revenue for above-market lease assets and below-market lease liabilities for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Above-market lease assets $ (5,515 ) $ (5,216 ) $ (6,708 ) Below-market lease liabilities 6,050 6,029 7,324 Net increase to rental revenue $ 535 $ 813 $ 616 Intangible lease asset amortization $ (40,797 ) $ (44,260 ) $ (48,937 ) We expense any unamortized intangible lease asset or record an adjustment to rental revenue for any unamortized above-market lease asset or below-market lease liability when a tenant terminates a lease before the stated lease expiration date. During the year ended December 31, 2016 , we recorded $1.7 million related to write-offs of unamortized intangible lease assets and liabilities due to early lease terminations. We recorded an insignificant amount of adjustments related to write-offs of unamortized intangible lease assets and liabilities due to early lease terminations during the years ended December 31, 2015 and 2014 . Real property assets, including land, building, building and land improvements, tenant improvements, lease commissions, and intangible lease assets and liabilities are stated at historical cost less accumulated depreciation and amortization. Depreciation and amortization are computed on a straight-line basis over their estimated useful lives as described in the following table. Description Depreciable Life Land Not depreciated Building 40 years Building and land improvements 10-40 years Tenant improvements Lesser of useful life or lease term Lease commissions Over lease term Intangible in-place lease assets Over lease term Above-market lease assets Over lease term Below-market lease liabilities Over lease term, including below-market fixed-rate renewal options The following table presents expected amortization during the next five years and thereafter related to the acquired above-market lease assets, below-market lease liabilities and acquired in-place lease intangibles, for properties owned as of December 31, 2016 (amounts in thousands). For the Year Ended December 31, 2017 2018 2019 2020 2021 Thereafter Total Acquired above-market lease assets $ (2,379 ) $ (727 ) $ (633 ) $ (213 ) $ (201 ) $ (456 ) $ (4,609 ) Acquired below-market lease liabilities 5,307 4,695 3,977 3,272 2,847 39,447 59,545 Net rental revenue increase $ 2,928 $ 3,968 $ 3,344 $ 3,059 $ 2,646 $ 38,991 $ 54,936 Acquired in-place lease intangibles $ 27,158 $ 16,909 $ 11,863 $ 6,898 $ 5,412 $ 15,572 $ 83,812 Discontinued Operations and Held for Sale Beginning with the year ended December 31, 2014, a discontinued operation is defined as a component (or group of components) of the entity, the disposal of which would represent a strategic shift that has (or will have) a major effect on the entity’s operations and financial results, when such a component (or group of components) has been disposed of or classified as held for sale. Interest expense is included in discontinued operations only if it is directly attributable to these operations or properties. The results of operations of properties that have been classified as discontinued operations are reported as discontinued operations for all periods presented. We classify real property as held for sale when our management commits to a plan to sell the property, the plan has appropriate approvals, the sale of the property is probable, and certain other criteria are met. At such time, the respective assets and liabilities are presented separately on our balance sheets and depreciation is no longer recognized. Assets held for sale are reported at the lower of their carrying amount or their estimated fair value less the costs to sell the assets. We recognize an impairment loss for assets held for sale if the current net book value of the property exceeds its fair value less selling costs. As of December 31, 2014, one of our properties was classified as held for sale. Debt-Related Investments Debt-related investments are considered to be held for investment, as we have both the intent and ability to hold these investments until maturity. Accordingly, these assets are carried at cost, net of unamortized loan origination costs and fees, discounts, repayments and unfunded commitments unless such loans or investments are deemed to be impaired.
Revenue Recognition	Revenue Recognition Revenue Recognition — Real Property We record rental revenue for the full term of each lease on a straight-line basis. Certain properties have leases that offer the tenant a period of time where no rent is due or where rent payments increase during the term of the lease. Accordingly, we record a receivable from tenants for rent that we expect to collect over the remaining lease term rather than currently, which is recorded as straight-line rents receivable. When we acquire a property, the term of existing leases is considered to commence as of the acquisition date for purposes of this calculation. Tenant recovery income includes payments from tenants for real estate taxes, insurance and other property operating expenses and is recognized as rental revenue.
Impairment	Impairment Impairment — Real Property We review our investments in real property individually on a quarterly basis, and more frequently when such an evaluation is warranted, to determine their appropriate classification, as well as whether there are indicators of impairment. The investments in real property are either classified as held and used or held for sale. As of December 31, 2016 , all of our properties were classified as held and used. The held and used assets are reviewed for indicators of impairment, which may include, among others, vacancy, each tenant’s inability to make rent payments, operating losses or negative operating trends at the property level, notification by a tenant that it will not renew its lease, a decision to dispose of a property, including a change in estimated holding periods, or adverse changes in the fair value of any of our properties. If indicators of impairment exist on a held and used asset, we compare the future estimated undiscounted cash flows from the expected use of the property to its net book value to determine if impairment exists. If the sum of the future estimated undiscounted cash flows is greater than the current net book value, we conclude no impairment exists. If the sum of the future estimated undiscounted cash flows is less than its current net book value, we recognize an impairment loss for the difference between the net book value of the property and its estimated fair value . If a property is classified as held for sale, we recognize an impairment loss if the current net book value of the property exceeds its fair value less selling costs. If our assumptions, projections or estimates regarding a property change in the future, we may have to record an impairment charge to reduce or further reduce the net book value of the property. See Note 3 for a discussion of impairment charges relating to our real properties recorded during the years ended December 31, 2016 , 2015 , and 2014 . Impairment — Debt-Related Investments We review our debt-related investments on a quarterly basis, and more frequently when such an evaluation is warranted, to determine if impairment exists. Accordingly, we do not group our debt-related investments into classes by credit quality indicator. A debt-related investment is impaired when, based on current information and events (including economic, industry and geographical factors), it is probable that we will be unable to collect all amounts due, both principal and interest, according to the contractual terms of the agreement. When an investment is deemed impaired, the impairment is measured based on the expected future cash flows discounted at the investment’s effective interest rate. As a practical expedient, the FASB issued ASC Topic 310, Receivables , which permits a creditor to measure impairment based on the fair value of the collateral of an impaired collateral-dependent debt-related investment or to measure impairment based on an observable market price for the impaired debt-related investment as an alternative to discounting expected future cash flows. Regardless of the measurement method, a creditor should measure impairment based on the fair value of the collateral when the creditor determines that foreclosure is probable. A debt-related investment is also considered impaired if its terms are modified in a troubled debt restructuring (“TDR”). A TDR occurs when we grant a concession to a borrower in financial difficulty by modifying the original terms of the loan. Impairments on TDR loans are generally measured based on the present value of expected future cash flows discounted at the effective interest rate of the original loan.
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities We record all derivative instruments in the accompanying balance sheets at fair value. Accounting for changes in the fair value of a derivative instrument depends on the intended use of the derivative instrument and the designation of the derivative instrument. Derivative instruments used to hedge exposure to changes in the fair value of an asset, liability, or firm commitments attributable to a particular risk, such as interest rate risk, are considered “fair value” hedges. Derivative instruments used to hedge exposure to variability in expected future cash flows, such as future interest payments, or other types of forecasted transactions, are considered “cash flow” hedges. We do not have any fair value hedges. For derivative instruments designated as cash flow hedges, the changes in the fair value of the derivative instrument that represent changes in expected future cash flows, which are effectively hedged by the derivative instrument, are initially reported as other comprehensive income (loss) in the statement of equity until the derivative instrument is settled. Upon settlement, the effective portion of the hedge is recognized as other comprehensive income (loss) and amortized over the term of the designated cash flow or transaction the derivative instrument was intended to hedge. The change in value of any derivative instrument that is deemed to be ineffective is charged directly to earnings when the determination of hedge ineffectiveness is made. We assess the effectiveness of each hedging relationship by comparing the changes in fair value or cash flows of the derivative instrument with the changes in fair value or cash flows of the designated hedged item or transaction. For purposes of determining hedge ineffectiveness, management estimates the timing and potential amount of future fixed-rate debt issuances each quarter in order to estimate the cash flows of the designated hedged item or transaction. Management considers the likelihood of the timing and amount of entering into such forecasted transactions when determining the expected future fixed-rate debt issuances. We do not use derivative instruments for trading or speculative purposes. We classify cash paid to settle our forward starting swaps as financing activities in our statements of cash flows.
Cash and Cash Equivalents	Cash and Cash Equivalents Cash and cash equivalents consist of cash on hand and highly liquid investments with original maturities of three months or less such as money market mutual funds or certificates of deposits.
Restricted Cash	Restricted Cash Restricted cash consists primarily of lender and property-related escrow accounts.
Collectability of Receivables	Collectability of Receivables We evaluate the collectability of our rent and other receivables on a regular basis based on factors including, among others, the age of the receivable, payment history, the financial strength of the tenant or borrower and any guarantors. Specifically with regards to our debt-related investments, we evaluate the collectability of our receivables based on factors including, among others, the value of the underlying collateral, the operations and operating trends of the underlying collateral, if any, the asset type and current economic conditions. If our evaluation of these factors indicates we may not recover the full amount of the receivable, we provide a reserve against the portion of the receivable that we estimate may not be recovered. This analysis requires us to determine whether there are factors indicating a receivable may not be fully collectible and to estimate the amount of the receivable that may not be collected.
Accumulated Other Comprehensive Loss	Accumulated Other Comprehensive Loss Accumulated other comprehensive loss as reported in the accompanying consolidated statements of equity as of December 31, 2016 primarily consists of the cumulative loss related to our derivatives of $5.9 million , before attribution to noncontrolling interests of $1.2 million , and cumulative gain related to our real estate securities of approximately $1.1 million , before attribution of a cumulative loss to noncontrolling interests of $1.3 million .
Basic and Diluted Net Income (Loss) per Common Share	Basic and Diluted Net Income (Loss) per Common Share Basic net income (loss) per common share is determined by dividing net income (loss) attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share includes the effects of potentially issuable common stock, but only if dilutive, including the presumed exchange of OP Units.
Stock-Based Compensation	Stock-Based Compensation Independent Director RSU Awards On December 5, 2013, our board of directors approved revised compensation for our independent directors. In connection with the revised compensation plan, at each annual meeting of stockholders the independent directors will automatically, upon election, receive an award of restricted stock units (“RSUs”) with respect to Class I shares of our common stock, with the number of RSUs based on the NAV per Class I share as of the end of the day of the annual meeting. RSUs granted under this plan are measured at fair value on the grant date and amortized to compensation expense on a straight-line basis over the service period after which the awards fully vest. Such expense is included in “general and administrative expenses” in the accompanying consolidated statements of income. The fair value of these awards is measured at our NAV per share. RSUs awarded to our independent directors vest no later than one year from the date of grant. Advisor RSU Agreements We have entered into Restricted Stock Unit Agreements (the “Advisor RSU Agreements”) with our Advisor. The purposes of the Advisor RSU Agreements are to promote an alignment of interests among our stockholders, our Advisor and the personnel of our Advisor and its affiliates, and to promote retention of the personnel of our Advisor and its affiliates. Each restricted stock unit granted pursuant to the Advisor RSU Agreements (the “Company RSU”) will, upon vesting, entitle our Advisor to one Class I share of our common stock. The Advisor is expected to redistribute a significant portion of the Company RSUs and/or shares to senior level employees of our Advisor and its affiliates that provide services to us, although the terms of such redistributions (including the timing, amount and recipients) remain solely in the discretion of our Advisor. The Company RSUs are subject to specified vesting and settlement provisions and, upon settlement in Class I shares of Company common stock, require offsets of advisory fees and expenses otherwise payable from the Company to our Advisor. Each offset amount equals the number of Company RSUs vesting on such date multiplied by the NAV per Class I share publicly disclosed by us as of the end of the grant date. Each offset amount is always calculated based on the grant date NAV per Class I share, even beyond the initial vesting date. At the end of each 12 -month period following each vesting date, if the offset amount has not been fully realized by offsets from the cash payments otherwise due and payable to our Advisor under the Advisory Agreement, our Advisor shall promptly pay any shortfall to us. If our board of directors declares and we pay a cash dividend on Class I shares for any period in which the Company RSUs are outstanding (regardless of whether such Company RSUs are then vested), our Advisor will be entitled to dividend equivalents (“Dividend Equivalents”) with respect to that cash dividend equal to the cash dividends that would have been payable on the same number of Class I shares as the number of Company RSUs subject to the Advisor RSU Agreements had such Class I shares been outstanding during the same portion of such period as the Company RSUs were outstanding. Any such Dividend Equivalents may be paid in cash or Class I shares, at our Advisor’s election. Accordingly, we classify Company RSUs as participating securities because participants receive dividends on unvested shares. Restricted Stock Grants We granted restricted shares of Class I common stock, respectively, to certain employees of our Advisor and its affiliates, none of which are our named executive officers. Restricted stock grants are measured at fair value during the service period and recorded to compensation expense over the service period after which the grants fully vest. Such expense is included in “general and administrative expenses” in the accompanying consolidated statements of income. The fair value of these awards is measured at our NAV per share as of the date the shares vest.
Dealer Manager And Distribution Fees	Dealer Manager and Distribution Fees Dividend Capital Securities LLC, which we refer to as our “Dealer Manager,” distributes the shares of our common stock in our public offering on a “best efforts” basis. Our Dealer Manager coordinates our distribution effort and manages our relationships with participating broker-dealers and financial advisors and provides assistance in connection with compliance matters relating to marketing our public offering. Among other fees, we pay our Dealer Manager (i) a dealer manager fee which accrues daily in an amount equal to 1/365th of 0.6% of our NAV per share of Class A and Class W shares outstanding and an amount equal to 1/365th of 0.1% of our NAV per share of Class I shares outstanding on such day on a continuous basis, and (ii) a distribution fee which accrues daily in an amount equal to 1/365th of 0.5% of our NAV per share of Class A shares outstanding on such day on a continuous basis. We cease paying the dealer manager fee and distribution fee with respect to shares sold in the offering on the earlier to occur of the following: (i) a listing of the class of such shares on a national securities exchange, (ii) following the completion of an offering, total underwriting compensation in the offering equaling 10% of the gross proceeds from the primary portion of the respective offering, or (iii) such shares no longer being outstanding. We account for these dealer manager and distribution fees as a reduction in proceeds received from the sale of common stock. We record a liability for dealer manager and distribution fees that we estimate that we may pay our Dealer Manager in future periods for shares of our common stock sold pursuant to the Prior Offering and Follow-On Offering with a corresponding reduction in proceeds received from the sale of common stock. The payment of dealer manager and distribution fees may extend several years after the sale of the related shares of common stock.
Use of Estimates	Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States (“GAAP”) requires management to make estimates and assumptions relating to the reported amounts of assets and liabilities and the disclosure of contingent assets and liabilities at the date of the financial statements, and the reported amounts of revenues and expenses during the reporting periods. Actual results could differ materially from those estimates. Estimates and assumptions are reviewed periodically and the effects of revisions are reflected in the periods they are determined to be necessary.
New Accounting Pronouncements	New Accounting Pronouncements In January 2017, the FASB issued Accounting Standards Update 2017-01 ("ASU 2017-01"), which clarifies the definition of a business in order to provide additional guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. This guidance will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Earlier adoption is permitted. The guidance in ASU 2017-01 should be adopted on a prospective basis. We adopted ASU 2017-01 as of January 1, 2017 and anticipate that future acquisitions of real property will likely be accounted for as asset acquisitions rather than business combinations. Among other things, accounting for an asset acquisition requires capitalization of acquisition costs as a component of the acquired assets whereas accounting for business combinations requires acquisition costs to be expensed. For the years ended December 31, 2016 , 2015 and 2014 , we expensed $667,000 , $2.6 million and $1.2 million of acquisition costs, respectively, under accounting for business combinations. Additionally, goodwill is not recognized and contingent consideration is recorded when probable and reasonably estimable under accounting for asset acquisitions. In November 2016, the FASB issued Accounting Standards Update 2016-18 ("ASU 2016-18"), which requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The total amount of restricted cash and restricted cash equivalents and cash and cash equivalents will be reconciled to amounts on the balance sheet and the nature of the restrictions disclosed. This guidance will be effective for fiscal years beginning after December 15, 2017, including interim periods within those fiscal years. Earlier adoption is permitted. The guidance in ASU 2016-18 should be adopted on a retrospective basis. We do not anticipate the adoption will have a significant impact on our financial statements. In June 2016, the FASB issued Accounting Standards Update 2016-13, which introduces a new model for recognizing credit losses for certain financial instruments, including loans, accounts receivable and debt securities. The new model requires an estimate of expected credit losses over the life of exposure to be recorded through the establishment of an allowance account, which is presented as an offset to the related financial asset. The expected credit loss is recorded upon the initial recognition of the financial asset. The guidance will be effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2019. Earlier application is permitted. The guidance will generally be adopted on a modified retrospective basis, with exceptions for certain types of financial assets. We do not anticipate the adoption will have a significant impact on our financial statements. In March 2016, the FASB issued Accounting Standards Update 2016-05, which clarifies the effect of derivative contract novations on existing hedge accounting relationships. The guidance states that a change in the counterparty to a derivative instrument that has been designated as the hedging instrument under ASC Topic 815, Derivatives and Hedging (“ASC Topic 815”) does not, in and of itself, require dedesignation of that hedging relationship provided that all other hedge accounting criteria continue to be met. The guidance will be effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. The guidance can be adopted on either a prospective basis or a modified retrospective basis. Earlier application is permitted. We do not anticipate the adoption will have a significant impact on our financial statements. In February 2016, the FASB issued Accounting Standards Update 2016-02, Leases (Topic 842) (“ASU 2016-02”), which amends the accounting guidance regarding lessees accounting, leveraged leases, and sale and leaseback transactions. The accounting applied by a lessor is largely unchanged under ASU 2016-02, however, the standard requires that lessors expense certain initial direct costs that are not incremental in negotiating a lease. Under existing standards, certain of these costs are capitalizable and therefore this new standard may result in certain of these costs being expensed as incurred after adoption. Such costs are not material to the Company. This standard may also impact the timing, recognition and disclosures related to our rental recoveries from tenants earned from leasing our operating properties. The guidance will be effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2018. Earlier application is permitted. We plan to early adopt ASU 2016-02 beginning January 1, 2018. The guidance should be adopted using a modified retrospective transition, which will require application of ASU 2016-02 at the beginning of the earliest comparative period presented. Our initial analysis of our lease contracts indicates that the adoption of ASU 2016-02 will not have a material impact on our consolidated financial statements; however, we are still in the process of evaluating the impact of ASU 2016-02. In May 2014, the FASB issued Accounting Standards Update 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU 2014-09”), which provides new guidance outlining a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers that supersedes most current revenue recognition guidance. This guidance requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The new guidance specifically excludes revenue associated with lease contracts. Additionally, this guidance expands related disclosure requirements regarding the nature, amount, timing and uncertainty of revenue and cash flows arising from contracts with customers. In June 2015, the FASB agreed to defer the effective date of this guidance for a year from the original effective date outlined in ASU 2014-09, and as a result, the guidance will be effective for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2017 and will require full or modified retrospective application. Early adoption is permitted for annual reporting periods (including interim reporting periods within those periods) beginning after December 15, 2016. We plan to adopt the standard when it becomes effective for us beginning January 1, 2018 and have not determined whether the full or modified retrospective application will be applied. Rental revenues and certain recoveries earned from leasing our operating properties will be evaluated with the adoption of the lease accounting standard (discussed above). Additionally, we do not expect the standard to significantly impact the accounting for sales of our properties. Our initial analysis of our non-lease related revenue contracts indicates that the adoption of ASU 2014-09 will not have a material effect on our consolidated financial statements; however, we are still in the process of evaluating the impact of ASU 2014-09.

Summary of Significant Accoun28

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Adjustments to Rental Revenue Related to Amortization of Above-Market Lease Assets and Below-Market Lease Liabilities	The following table summarizes the amounts that we have incurred in amortization expense for intangible lease assets and adjustments to rental revenue for above-market lease assets and below-market lease liabilities for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Above-market lease assets $ (5,515 ) $ (5,216 ) $ (6,708 ) Below-market lease liabilities 6,050 6,029 7,324 Net increase to rental revenue $ 535 $ 813 $ 616 Intangible lease asset amortization $ (40,797 ) $ (44,260 ) $ (48,937 )
Depreciation and Amortization Computed on Straight-Line Basis over Estimated Useful Lives	Depreciation and amortization are computed on a straight-line basis over their estimated useful lives as described in the following table. Description Depreciable Life Land Not depreciated Building 40 years Building and land improvements 10-40 years Tenant improvements Lesser of useful life or lease term Lease commissions Over lease term Intangible in-place lease assets Over lease term Above-market lease assets Over lease term Below-market lease liabilities Over lease term, including below-market fixed-rate renewal options
Expected Amortization During Next Five Years and Thereafter Related to Acquired Above-Market Lease Assets, Below-Market Lease Liabilities and Acquired In-Place Lease Intangibles	The following table presents expected amortization during the next five years and thereafter related to the acquired above-market lease assets, below-market lease liabilities and acquired in-place lease intangibles, for properties owned as of December 31, 2016 (amounts in thousands). For the Year Ended December 31, 2017 2018 2019 2020 2021 Thereafter Total Acquired above-market lease assets $ (2,379 ) $ (727 ) $ (633 ) $ (213 ) $ (201 ) $ (456 ) $ (4,609 ) Acquired below-market lease liabilities 5,307 4,695 3,977 3,272 2,847 39,447 59,545 Net rental revenue increase $ 2,928 $ 3,968 $ 3,344 $ 3,059 $ 2,646 $ 38,991 $ 54,936 Acquired in-place lease intangibles $ 27,158 $ 16,909 $ 11,863 $ 6,898 $ 5,412 $ 15,572 $ 83,812
Schedule of Straight-Line Rent Adjustments and Tenant Recovery Income	The following table summarizes straight-line rental adjustments and tenant recovery income received from tenants for real estate taxes, insurance and other property operating expenses and recognized as rental revenue for the years ended December 31, 2016 , 2015 , and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Straight-line rent adjustments $ (1,263 ) $ (976 ) $ 3,037 Tenant recovery income (1) $ 41,707 $ 37,526 $ 31,092 _______________________________ (1) Tenant recovery income excludes real estate taxes that were paid directly by our tenants that are subject to triple net lease contracts. Such payments totaled approximately $4.3 million , $7.0 million and $12.4 million during the years ended December 31, 2016 , 2015 , and 2014 , respectively.

Investments in Real Property (T

Investments in Real Property (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule of Consolidated Investments in Real Property	The following tables summarize our consolidated investments in real property as of December 31, 2016 and 2015 (amounts in thousands): Real Property Land Building and Improvements Intangible Lease Assets Total Investment Amount Intangible Lease Liabilities Net Investment Amount As of December 31, 2016: Office $ 171,176 $ 701,859 $ 236,143 $ 1,109,178 $ (15,121 ) $ 1,094,057 Industrial 8,821 63,999 16,308 89,128 (344 ) 88,784 Retail 293,973 599,020 113,023 1,006,016 (75,515 ) 930,501 Total gross book value 473,970 1,364,878 365,474 2,204,322 (90,980 ) 2,113,342 Accumulated depreciation/amortization — (215,858 ) (277,053 ) (492,911 ) 31,435 (461,476 ) Total net book value $ 473,970 $ 1,149,020 $ 88,421 $ 1,711,411 $ (59,545 ) $ 1,651,866 As of December 31, 2015: Office $ 203,889 $ 833,655 $ 310,629 $ 1,348,173 $ (18,923 ) $ 1,329,250 Industrial 9,572 65,307 16,436 91,315 (344 ) 90,971 Retail 260,761 570,700 109,225 940,686 (74,282 ) 866,404 Total gross book value 474,222 1,469,662 436,290 2,380,174 (93,549 ) 2,286,625 Accumulated depreciation/amortization — (208,281 ) (297,676 ) (505,957 ) 29,675 (476,282 ) Total net book value $ 474,222 $ 1,261,381 $ 138,614 $ 1,874,217 $ (63,874 ) $ 1,810,343
Schedule of Acquisitions of Real Property	The following table summarizes our acquisition of real property during the year ended December 31, 2016 (dollar amounts and square footage in thousands): Real Property Property Market Date of Acquisition Acquired Contract Net Rentable Percent Leased at Acquisition Suniland Shopping Center Retail South Florida 5/27/2016 100% $ 66,500 82 93.2 %
Schedule of Allocation of the Fair Value of Acquired Real Properties	The following table summarizes the allocations of the fair value of the real property we acquired during the year ended December 31, 2016 to land, building and improvements, intangible lease assets, intangible lease liabilities, and mark-to-market adjustment on assumed debt (dollar amounts in thousands). We have not made any material adjustments related to these allocations. Weighted-Average Amortization Period (Years) Real Property Land Building and Improvements Intangible Lease Assets Intangible Lease Liabilities Total Fair Value Prorations and Credits Contract Price Intangible Lease Assets Intangible Lease Liabilities Suniland Shopping Center $ 34,804 $ 28,022 $ 5,880 $ (2,113 ) $ 66,593 $ (93 ) $ 66,500 5.8 10.4
Schedule Of Disposed Properties	During 2016 , 2015 and 2014 we disposed of the following properties (dollar amounts and square footage in thousands): Property Type Market Ownership Net Rentable Square Feet Percentage Leased Disposition Date Contract Sales Price Gain (loss) on Sale 2016 Dispositions: Office Washington, DC 100 % 574 100 % 2/18/2016 $ 158,400 $ 41,241 Office Chicago, IL 80 % 107 66 % 3/1/2016 9,850 — Office Chicago, IL 80 % 199 81 % 3/1/2016 18,000 159 Retail Greater Boston 100 % 39 100 % 8/5/2016 3,625 975 Industrial Louisville, KY 90 % 126 33 % 9/2/2016 5,400 1,120 Office Washington, DC 100 % 178 — % 9/30/2016 18,600 — Retail (1) Greater Boston 100 % 13 100 % 11/18/2016 6,200 2,165 Total 2016 real property dispositions 1,236 73 % $ 220,075 $ 45,660 2015 Dispositions: Retail Greater Boston 100 % 11 100 % 12/18/2015 $ 1,625 $ 14 Office Silicon Valley, CA 100 % 53 100 % 12/14/2015 16,750 970 Land Parcel Denver, CO 100 % N/A N/A 8/12/2015 7,577 1,701 Office Los Angeles, CA 100 % 111 — % 7/20/2015 12,549 2,866 Retail Pittsburgh, PA 100 % 103 93 % 5/5/2015 12,500 — Office and Industrial (2) Various (2) 100 % 2,669 100 % 3/11/2015 398,635 105,542 Office Dallas, TX 100 % 177 88 % 1/16/2015 46,600 23,125 Total 2015 real property dispositions 3,124 95 % $ 496,236 $ 134,218 2014 Dispositions: Office Denver, CO 100 % 138 100 % 11/7/2014 $ 9,100 $ 4,032 Industrial (3) Silicon Valley, CA 100 % 177 41 % 10/15/2014 13,579 — Office East Bay, CA 100 % 60 0 % 6/13/2014 5,700 2,755 Land Parcel Denver, CO 100 % N/A N/A 4/14/2014 780 93 Office Little Rock, AR 100 % 102 100 % 2/25/2014 19,550 1,350 Retail Greater Boston 100 % 110 0 % 2/18/2014 6,750 2,276 Industrial Portfolio Various (4) 93 % 3,387 99 % 1/22/2014 175,000 29,545 Total 2014 real property dispositions 3,974 93 % $ 230,459 $ 40,051 _______________________________ (1) Disposed property was a single building from a multi-building grocery-anchored retail property. We continue to operate the remaining portion of the property. (2) The Portfolio includes (i) six office properties comprising 1.1 million net rentable square feet located in the following markets: Los Angeles, CA ( three properties, of which one disposed property was a single building from a two -building office property), Northern New Jersey, Miami, FL, and Dallas, TX, and (ii) six industrial properties comprising 1.6 million net rentable square feet located in the following markets: Los Angeles, CA, Dallas, TX, Cleveland, OH, Chicago, IL, Houston, TX, and Denver, CO. We incurred closing costs and fees of approximately $7.8 million upon the closing of this transaction, including approximately $4.0 million in advisory fees related to the disposition of real property paid to our Advisor. For the years ended December 31, 2015 and 2014 , our consolidated statements of income include approximately $6.2 million and $33.7 million of aggregate revenue attributable to the Portfolio, respectively. (3) On October 15, 2014, we disposed of a wholly owned industrial property comprising approximately 177,000 net rentable square feet in three buildings located in the Silicon Valley, CA market (“Lundy”). At the time of the disposition, the property had a net investment amount of approximately $13.1 million . The property was transferred to the lender through a foreclosure sale which extinguished amounts due, including related principal of $13.6 million . (4) Industrial portfolio included 12 properties located in the following markets: Atlanta, GA, Central Pennsylvania, Cincinnati, OH, Columbus, OH, Dallas, TX, Indianapolis, IN, and Minneapolis/St. Paul, MN.
Schedule of Amounts Recorded as Discontinued Operations	The following table summarizes amounts recorded as discontinued operations for the years ended December 31, 2014 (amounts in thousands): For the Year Ended December 31, 2014 Revenues $ 969 Rental expense (340 ) Real estate depreciation and amortization expense — Interest expense (296 ) Other expenses (8 ) Income from discontinued operations 325 Gain on disposition 29,679 Discontinued operations 30,004 Discontinued operations attributable to noncontrolling interests (4,462 ) Discontinued operations attributable to common stockholders $ 25,542
Future Minimum Rental Receivable Under Non Cancelable Operating and Ground Leases	Future minimum rentals to be received under non-cancelable operating and ground leases in effect as of December 31, 2016 , are as follows (amounts in thousands): For the Year Ended December 31, Future Minimum Rentals 2017 $ 144,932 2018 128,008 2019 116,595 2020 85,928 2021 68,617 Thereafter 214,531 Total $ 758,611
Schedule of Top Five Tenants as Percentage of Consolidated Annual Base Rent and Square Feet	The following is a summary of amounts related to the top five tenants based on annualized base rent, as of December 31, 2016 (dollar amounts and square feet in thousands): Tenant Locations Industry Annualized Base Rent (1) % of Total Annualized Base Rent Square Feet % of Total Portfolio Square Feet Charles Schwab & Co., Inc. (2) 2 Securities, Commodities, Fin. Inv./Rel. Activities $ 23,645 13.9 % 602 7.4 % Sybase (3) 1 Publishing Information (except Internet) 18,692 11.0 % 405 5.0 % Stop & Shop 14 Food and Beverage Stores 14,125 8.3 % 853 10.4 % Novo Nordisk 1 Chemical Manufacturing 4,627 2.7 % 167 2.0 % Seton Health Care 1 Hospitals 4,339 2.6 % 156 1.9 % 19 $ 65,428 38.5 % 2,183 26.7 % _______________________________ (1) Annualized base rent represents the annualized monthly base rent of executed leases as of December 31, 2016 . (2) The amount presented for Schwab reflects the total annualized base rent for our two leases in place with Schwab as of December 31, 2016 . One of these leases, which expires in September 2017, entails the lease of all 594,000 square feet of our 3 Second Street (formerly known as Harborside) office property and accounts for $23.5 million or 13.8% of our annualized base rent as of December 31, 2016 . We do not expect Schwab to renew this lease. Schwab has subleased 100% of 3 Second Street to 27 sub-tenants through September 2017. We have executed leases directly with nine of these subtenants that comprise 352,000 square feet or 59% of 3 Second Street that effectively extend their leases beyond the Schwab lease expiration. These direct leases will expire between September 2020 and September 2032. (3) The Sybase lease was terminated on January 31, 2017.

Debt-Related Investments (Table

Debt-Related Investments (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Details of Debt Related Income	The following table describes our debt-related income for the years ended December 31, 2016 , 2015 , and 2014 (dollar amounts in thousands): For the Year Ended December 31, Weighted Average Yield as of December 31, 2016 (1) Investment Type 2016 2015 2014 Mortgage notes (2) $ 943 $ 5,136 $ 4,521 6.1 % Mezzanine debt (3) — 1,786 2,875 N/A Total $ 943 $ 6,922 $ 7,396 6.1 % _______________________________ (1) Weighted average yield is calculated on an unlevered basis using the amount invested, current interest rates and accretion of premiums or discounts realized upon the initial investment for each investment type as of December 31, 2016 . As of December 31, 2016 , all of our debt-related investments bear interest at fixed rates. (2) None of our debt-related investments structured as mortgage notes were repaid in full during the year ended December 31, 2016 . Six and three of our debt-related investments structured as mortgage notes were repaid in full during the years ended December 31, 2015 and 2014 , respectively. Amounts recorded include early repayment fees received and accelerated amortization of origination fees offset by accelerated amortization of deferred due diligence costs related to certain of these repayments. (3) Our debt-related investment structured as a mezzanine loan was repaid in full during the year ended December 31, 2015. During the year ended December 31, 2015, amounts recorded were offset by accelerated amortization of deferred due diligence costs.
Debt Investment Activity	The following table describes our debt-related investment activity for the years ended December 31, 2016 and 2015 (amounts in thousands). Year Ended December 31, 2016 2015 Investment in Debt-Related Investments: Balance at January 1, $ 15,722 $ 94,951 Investments (1) — 3,465 Principal repayments (469 ) (82,417 ) Amortization of deferred fees, costs, and discounts/premiums (44 ) (277 ) Balance at December 31, $ 15,209 $ 15,722 _______________________________ (1) Investment includes approximately $2 million of accrued interest that was capitalized into the principal balance of our mezzanine debt investment during the year ended December 31, 2015 .
Summary of Debt Related Investments	The following table summarizes our debt-related investments as of December 31, 2016 (dollar amounts in thousands). Description Region Interest Rate Fixed or Variable Interest Rate as of December 31, 2016 Maturity Date Face Amount of Debt (1) Amount of Debt Related Investments Mortgage note Northeast Fixed 6.2 % 11/1/2017 $ 3,609 $ 3,622 Mortgage note Southeast Fixed 7.0 % 3/1/2019 8,483 8,551 Mortgage note Mountain Fixed 5.2 % 3/1/2021 3,048 3,036 Total/weighted average 6.4 % $ 15,140 $ 15,209 _______________________________ (1) Reflects the principal amount of the debt investment outstanding, which is net of principal repayments.

Debt Obligations (Tables)

Debt Obligations (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Borrowings	The following table describes our borrowings as of December 31, 2016 and 2015 (dollar amounts in thousands): Principal Balance as of December 31, Weighted Average Interest Rate as of December 31, Gross Investment Amount Securing Borrowings as of December 31, (1) 2016 2015 2016 2015 2016 2015 Fixed-rate mortgages (2) $ 290,970 $ 580,959 4.9 % 5.6 % $ 462,954 $ 1,016,560 Floating-rate mortgages (3) 52,500 7,890 2.3 % 3.4 % 70,485 16,618 Total mortgage notes 343,470 588,849 4.5 % 5.5 % 533,439 1,033,178 Line of credit (4) 236,000 167,000 2.3 % 1.9 % N/A N/A Term loans (5) 475,000 350,000 3.2 % 2.6 % N/A N/A Total unsecured borrowings 711,000 517,000 2.9 % 2.4 % N/A N/A Total borrowings $ 1,054,470 $ 1,105,849 3.4 % 4.1 % N/A N/A Less: net debt issuance costs (6) (6,295 ) (6,317 ) Add: mark-to-market adjustment on assumed debt 626 1,304 Less: GAAP principal amortization on restructed debt — (3,067 ) Total borrowings (net basis) $ 1,048,801 $ 1,097,769 _______________________________ (1) “Gross Investment Amount” as used here and throughout this document represents the allocated gross basis of real property and debt-related investments, after certain adjustments. Gross Investment Amount for real property (i) excludes the effect of intangible lease liabilities, (ii) excludes accumulated depreciation and amortization, and (iii) includes the impact of impairments. (2) Amount as of December 31, 2016 includes a floating-rate mortgage note that was subject to an interest rate spread of 1.60% over one-month LIBOR, which we have effectively fixed using an interest rate swap at 3.051% for the term of the borrowing. (3) As of December 31, 2016 , our floating-rate mortgage note was subject to an interest rate spread of 1.65% over one-month LIBOR. As of December 31, 2015 our floating-rate mortgage note was subject to an interest rate spread of 3.00% over one-month LIBOR. (4) As of December 31, 2016 and 2015 , borrowings under our line of credit were subject to interest at a floating rate of 1.55% and 1.40% over one-month LIBOR, respectively. However, as of December 31, 2016 , we had effectively fixed the interest rate of approximately $12.1 million of the total of $236.0 million in borrowings using interest rate swaps, resulting in a weighted average interest rate on the total line of credit of 2.28% . As of December 31, 2015 , we had effectively fixed the interest rate of approximately $25.4 million of the total of $167.0 million in borrowings using interest rate swaps, resulting in a weighted average interest rate on the total line of credit of 1.88% . (5) As of December 31, 2016 and 2015 , borrowings under our term loans were subject to interest at weighted average floating rates of 1.60% and 1.52% , respectively, over one-month LIBOR. However, we had effectively fixed the interest rates of the borrowings using interest rate swaps at 3.17% and 2.59% as of December 31, 2016 and 2015 , respectively. (6) See Note 2 for additional information related to the reclassification of net debt issuance costs in accordance with ASU 2015-03.
Schedule Of Mortgage Note Borrowings	During the year ended December 31, 2016 , we entered into two mortgage note borrowings. The following table describes the new borrowings in more detail (dollar amounts in thousands): Borrowings Date Borrowed Principal Balance Fixed or Floating Interest Rate Stated Interest Rate Contractual Maturity Date Extension Options Collateral Type Collateral Market Preston Sherry Plaza (1) 4/13/2016 $ 33,000 Fixed 3.05 % 3/1/2023 None Office Property Dallas, TX 1300 Connecticut (2) 8/5/2016 52,500 Floating 2.17 % 8/5/2023 None Office Property Washington, DC Total borrowings $ 85,500 2.51 % (1) As of December 31, 2016 , the Preston Sherry Plaza term loan was subject to an interest rate spread of 1.60% over one-month LIBOR, which we have effectively fixed using an interest rate swap at 3.051% for the term of the borrowing. (2) As of December 31, 2016 , the 1300 Connecticut term loan was subject to an interest rate spread of 1.65% over one-month LIBOR. However, we entered into interest rate swaps which will effectively fix the interest rate of the borrowing at 2.852% from July 1, 2018 to July 1, 2021.
Schedule of Repayment Of Debt	During the year ended December 31, 2016 , we repaid nine mortgage note borrowings in full during the respective free-prepayment periods prior to their scheduled maturities using proceeds from the Facility and the disposition of real properties. The following table describes these repayments in more detail (dollar amounts in thousands): Debt Obligation Repayment Date Balance Repaid/Extinguished Interest Rate Fixed or Floating Stated Interest Rate Contractual Maturity Date Collateral Type Collateral Market 1300 Connecticut 1/12/2016 $ 44,979 Fixed 6.81 % 4/10/2016 Office Property Washington, DC Washington Commons (1) 2/1/2016 21,300 Fixed 5.94 % 2/1/2016 Office Property Chicago, IL 40 Boulevard (2) 3/1/2016 7,830 Floating 3.44 % 3/11/2016 Office Property Chicago, IL Jay Street 4/11/2016 23,500 Fixed 6.05 % 7/11/2016 Office Property Silicon Valley, CA 655 Montgomery 4/11/2016 55,683 Fixed 6.01 % 6/11/2016 Office Property San Francisco, CA Bala Pointe 7/1/2016 24,000 Fixed 5.89 % 9/1/2016 Office Property Philadelphia, PA Harborside 9/9/2016 104,675 Fixed 5.50 % 12/10/2016 Office Property Northern New Jersey Bandera Road 12/8/2016 21,500 Fixed 5.46 % 2/8/2017 Retail Property San Antonio, TX Shiloh 12/8/2016 22,700 Fixed 5.57 % 1/8/2017 Industrial Property Dallas, TX Total/weighted average borrowings $ 326,167 5.82 % (1) Amount presented includes a $5.1 million contingently payable mortgage note that was not ultimately required to be repaid. As a result of the transaction, we recognized a gain on extinguishment of debt and financing commitments of approximately $5.1 million during the year ended December 31, 2016 . (2) The mortgage note was subject to an interest rate of 3.0% over one-month LIBOR.
Schedule of Borrowings Reflects Contractual Debt Maturities	The following table reflects our contractual debt maturities as of December 31, 2016 , specifically our obligations under our mortgage notes and unsecured borrowings (dollar amounts in thousands): As of December 31, 2016 Mortgage Notes Unsecured Borrowings Total Year Ending December 31, Number of Maturing Outstanding Principal Balance Number of Maturing Outstanding Balance (1) Outstanding 2017 4 $ 162,460 — $ — $ 162,460 2018 — 2,698 1 275,000 277,698 2019 — 3,698 1 236,000 239,698 2020 — 3,860 — — 3,860 2021 1 12,764 — — 12,764 2022 1 3,660 1 200,000 203,660 2023 2 77,899 — — 77,899 2024 — 1,034 — — 1,034 2025 1 71,094 — — 71,094 2026 — 1,157 — — 1,157 Thereafter 2 3,146 — — 3,146 Total 11 $ 343,470 3 $ 711,000 $ 1,054,470 Less: net debt issuance costs (1,849 ) (4,446 ) Add: mark-to-market adjustment on assumed debt 626 — Total borrowings (net basis) $ 342,247 $ 706,554 _______________________________ (1) Unsecured borrowings presented include (i) borrowings under the Term Loan of $275.0 million , which were scheduled to mature in 2018, subject to two one -year extension options, (ii) borrowings under the Revolving Credit Facility of $236.0 million , which were scheduled to mature in 2019, subject to a one -year extension option, and (iii) borrowings under the $200 million Term Loan of $200.0 million which are scheduled to mature in 2022 with no extension options.

Derivatives and Hedging Activ32

Derivatives and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Reconciliation of Accumulated Other Comprehensive Loss	The table below presents a reconciliation of the beginning and ending balances, between December 31, 2015 and December 31, 2016 , of our accumulated other comprehensive loss (“OCI”), net of amounts attributable to noncontrolling interests, related to the effective portion of our cash flow hedges as presented on our financial statements, as well as amounts related to our available-for-sale securities (amounts in thousands): (Losses) and Gains on Cash Flow Hedges Unrealized (Losses) and Gains on Available-For-Sale Securities Accumulated Other Comprehensive Loss Beginning balance as of December 31, 2015: $ (9,967 ) $ (1,047 ) $ (11,014 ) Other comprehensive income: Amount of loss reclassified from OCI into interest expense (effective portion) (net of tax benefit of $0) 4,620 — 4,620 Change in fair value recognized in OCI (effective portion) (net of tax benefit of $0) (204 ) — (204 ) Net current-period other comprehensive income 4,416 — 4,416 Attribution of and other adjustments to OCI attributable to noncontrolling interests (298 ) (9 ) (307 ) Ending balance as of December 31, 2016: $ (5,849 ) $ (1,056 ) $ (6,905 )
Gross Fair Value of Derivative Financial Instruments as Well as Their Classification	The table below presents the gross fair value of our designated derivative financial instruments as well as their classification on our accompanying consolidated balance sheets as of December 31, 2016 and 2015 (amounts in thousands): Fair Value of Asset Derivatives as of Fair Value of Liability Derivatives as of Balance Sheet Location December 31, 2016 December 31, 2015 Balance Sheet Location December 31, 2016 December 31, 2015 Interest rate contracts Other assets, net (1) $ 2,135 $ 197 Other liabilities (1) $ (2,777 ) $ (3,303 ) _______________________________ (1) Although our derivative contracts are subject to master netting arrangements which serve as credit mitigants to both us and our counterparties under certain situations, we do not net our derivative fair values or any existing rights or obligations to cash collateral on the accompanying consolidated balance sheets. If we did net our derivative fair values on the accompanying consolidated balance sheets, the derivative fair values would be lowered by approximately $157,000 as of December 31, 2015 . This would result in net fair values of our asset derivatives of approximately $41,000 and and net fair values of our liability derivatives of approximately $3.1 million as of December 31, 2015 . As of December 31, 2016 , there would not be an impact if we net our derivative fair values.
Effect of Derivative Financial Instruments on Financial Statements	The table below presents the effect of our derivative financial instruments on our financial statements for the years ended December 31, 2016 , 2015 , and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Derivatives Designated as Hedging Instruments Derivative type Interest rate contracts Interest rate contracts Interest rate contracts Amount of (loss) recognized in OCI $ (204 ) $ (5,797 ) $ (2,370 ) Location of loss reclassified from Interest expense Interest expense Interest expense Amount of loss reclassified from $ 4,620 $ 4,820 $ 3,091 Location of gain (loss) recognized in income Interest and other income Interest and other income Interest and other income Amount of gain (loss) recognized in income $ — $ 3 $ (1 )

Fair Value Disclosures (Tables)

Fair Value Disclosures (Tables)	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Assets and Liabilities Measured at Fair Value on Recurring Basis	The table below presents certain of our assets and liabilities measured at fair value on a recurring basis as of December 31, 2016 and 2015 , aggregated by the level in the fair value hierarchy within which those measurements fall as defined above (amounts in thousands). The fair value estimates presented herein are based on information available to management as of December 31, 2016 and December 31, 2015 . Please see Note 6 for a discussion of our methodology for estimating the fair value of our derivative instruments. These estimates are not necessarily indicative of the amounts we could ultimately realize. There were no changes between fair value hierarchy levels during the years ended December 31, 2016 and 2015 . Level 1 Level 2 Level 3 Total As of December 31, 2016: Assets Real estate securities $ — $ — $ 200 $ 200 Derivative instruments — 2,135 — 2,135 Total assets $ — $ 2,135 $ 200 $ 2,335 Liabilities Derivative instruments $ — $ (2,777 ) $ — $ (2,777 ) Total liabilities $ — $ (2,777 ) $ — $ (2,777 ) As of December 31, 2015: Assets Real estate securities $ — $ — $ 200 $ 200 Derivative instruments — 197 — 197 Total assets $ — $ 197 $ 200 $ 397 Liabilities Derivative instruments $ — $ (3,303 ) $ — $ (3,303 ) Total liabilities $ — $ (3,303 ) $ — $ (3,303 )

Fair Value of Financial Instr34

Fair Value of Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2016
Financial Instruments, Owned, at Fair Value [Abstract]
Schedule of Carrying Amount and Fair Values of Other Financial Instruments	The following table summarizes the carrying amounts and estimated fair values measured on a nonrecurring basis of our other financial instruments, including instruments classified as held for sale, as of December 31, 2016 and 2015 (amounts in thousands). See Note 7 for a discussion of our assets and liabilities measured at fair value on a recurring basis. As of December 31, 2016 As of December 31, 2015 Carrying Amount Estimated Fair Value Carrying Amount Estimated Fair Value Assets: Fixed-rate debt-related investments, net $ 15,209 $ 15,784 $ 15,722 $ 16,526 Liabilities: Fixed-rate mortgage notes carried at amortized cost $ 290,329 $ 291,624 $ 577,978 $ 576,432 Floating-rate mortgage notes 51,918 51,942 7,886 7,883 Floating-rate unsecured borrowings 706,554 711,000 511,905 517,000

Noncontrolling Interests (Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2016
Noncontrolling Interest [Abstract]
Schedule of Noncontrolling Interest Balances	The following table summarizes changes to noncontrolling interest balances between December 31, 2015 and December 31, 2016 in terms of cumulative contributions, distributions and cumulative allocations of net income (loss) and redemptions and buyouts of the interests (amounts in thousands). OP Units Joint Venture Partner Interests Noncontrolling Interests Beginning balance as of December 31, 2015 $ 94,734 $ 2,412 $ 97,146 Comprehensive Income and Loss Net income (loss) 3,883 1,189 5,072 Unrealized change from cash flow hedging derivatives 307 — 307 Contributions, Distributions and Redemptions Contributions from noncontrolling interest holders — 3,225 3,225 Distributions to noncontrolling interest holders (4,661 ) (4,345 ) (9,006 ) Redemption and buyout of noncontrolling interests, net (4,996 ) — (4,996 ) Ending balance as of December 31, 2016 $ 89,267 $ 2,481 $ 91,748

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders' Equity Attributable to Parent [Abstract]
Information of Share Transactions	The following table describes the changes in each class of common shares during each of the years ended December 31, 2016 , 2015 and 2014 (shares and dollar amounts in thousands). Class E Class A Class W Class I Total Shares Amount (1) Shares Amount (1) Shares Amount (1) Shares Amount (1) Shares Amount (1) Balances, December 31, 2013 171,254 $ 1,728,146 217 $ 1,534 209 $ 1,437 4,327 $ 29,507 176,007 $ 1,760,624 Issuance of common stock: Shares sold — — 955 6,879 900 6,310 9,090 63,705 10,945 76,894 Distribution reinvestment plan 2,830 19,785 15 105 10 74 123 867 2,978 20,831 Stock-based compensation — — — — — — 136 807 136 807 Redemptions of common stock (11,016 ) (77,523 ) — — (2 ) (13 ) (648 ) (4,566 ) (11,666 ) (82,102 ) Balances, December 31, 2014 163,068 $ 1,670,408 1,187 $ 8,518 1,117 $ 7,808 13,028 $ 90,320 178,400 $ 1,777,054 Issuance of common stock: Shares sold — — 511 3,888 693 5,134 10,135 73,982 11,339 83,004 Distribution reinvestment plan 2,447 17,866 28 203 22 158 426 3,119 2,923 21,346 Stock-based compensation — — — — — — 618 1,295 618 1,295 Redemptions of common stock (28,240 ) (206,134 ) (23 ) (171 ) (20 ) (148 ) (873 ) (6,433 ) (29,156 ) (212,886 ) Balances, December 31, 2015 137,275 $ 1,482,140 1,703 $ 12,438 1,812 $ 12,952 23,334 $ 162,283 164,124 $ 1,669,813 Issuance of common stock: Shares sold — — 436 3,337 782 5,799 10,960 81,479 12,178 90,615 Distribution reinvestment plan 2,004 14,859 42 311 44 331 684 5,075 2,774 20,576 Stock-based compensation — — — — — — 32 1,415 32 1,415 Redemptions of common stock (26,954 ) (198,810 ) (180 ) (1,328 ) (367 ) (2,701 ) (971 ) (7,203 ) (28,472 ) (210,042 ) Balances, December 31, 2016 112,325 $ 1,298,189 2,001 $ 14,758 2,271 $ 16,381 34,039 $ 243,049 150,636 $ 1,572,377 _______________________________ (1) Dollar amounts presented in this table represent the gross amount of proceeds from the sale of common shares, or the amount paid to stockholders to redeem or repurchase common shares, and do not include other costs and expenses accounted for within additional paid-in capital, such as selling commissions, dealer manager and distribution fees, offering and organizational costs, and other costs associated with our distribution reinvestment plans, share redemption programs, and self-tender offers.
Total Distributions Declared and Portion of Each Contribution Paid in Cash and Reinvested	The following table describes our total distributions declared on our common stock for the years ended December 31, 2016 , 2015 and 2014 , and the portion of each distribution that was paid in cash and reinvested in shares (dollar amounts in thousands). For the Year Ended December 31, Distributions: 2016 % of Total Distributions 2015 % of Total Distributions 2014 % of Total Distributions Paid in cash $ 36,418 63.8 % $ 41,723 66.3 % $ 41,381 66.5 % Reinvested in shares 20,622 36.2 % 21,177 33.7 % 20,855 33.5 % Total distributions $ 57,040 100.0 % $ 62,900 100.0 % $ 62,236 100.0 %
Distributions Paid and/or Authorized	The following table sets forth the distributions that have been paid and/or authorized as of December 31, 2016 , subject to class-specific adjustments. Amount Declared per Share/Unit (1) Quarter Class E Class A Class W Class I Weighted Average Payment Date 2015 1st Quarter 2015 0.0900 0.0705 0.0794 0.0882 0.0897 4/16/2015 2nd Quarter 2015 0.0900 0.0700 0.0791 0.0882 0.0896 7/2/2015 3rd Quarter 2015 0.0900 0.0695 0.0788 0.0881 0.0895 10/16/2015 4th Quarter 2015 0.0900 0.0694 0.0788 0.0881 0.0894 1/19/2016 2016 1st Quarter 2016 0.0900 0.0697 0.0789 0.0882 0.0894 4/18/2016 2nd Quarter 2016 0.0900 0.0699 0.0790 0.0882 0.0893 7/18/2016 3rd Quarter 2016 0.0900 0.0695 0.0788 0.0881 0.0892 10/18/2016 4th Quarter 2016 0.0900 0.0692 0.0787 0.0881 0.0892 1/17/2017 2017 1st Quarter 2017 (2) 0.0900 0.0692 0.0786 0.0881 0.0891 4/17/2017 _______________________________ (1) Assumes ownership of share or unit for the entire quarter. (2) The distribution amount herein for the first quarter of 2017 is estimated based on the NAV per share as of December 31, 2016 . (3) Expected payment date.
Schedule of Information Regarding Taxability of Distributions on Common Shares	The following unaudited table summarizes the information reported to investors regarding the taxability of distributions on common shares for the years ended December 31, 2016 , 2015 and 2014 . For the Year Ended December 31, 2016 2015 2014 Per Common Share % of Total Distributions % of Total Distributions % of Total Distributions Ordinary income 53.66 % 81.01 % 63.92 % Non-taxable return of capital 46.34 % 18.99 % 36.08 % Total 100.00 % 100.00 % 100.00 %

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule Of RSU Grants	The chart below shows the Grant Dates, vesting dates, number of unvested shares as of December 31, 2016 , and Grant Date NAV per Class I Share (share amounts in thousands). Award Grant Date Vesting Dates Number of Unvested Shares Grant Date NAV per Class I Share Company RSU 4/7/2014 4/14/17 123 $ 6.96 Company RSU 2/25/2015 4/14/17 30 7.18 Company RSU 2/25/2015 4/13/18 135 7.18 Company RSU 2/4/2016 4/15/19 124 7.41 Total/ weighted average 412 $ 7.18
Schedule of Fees and Other Amounts Earned by Advisor	The following table summarizes fees and other amounts earned by our Advisor and its related parties in connection with services performed for us during the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands): For the Year Ended December 31, 2016 2015 2014 Advisory fees (1) $ 14,857 $ 17,083 $ 15,919 Other reimbursements paid to our Advisor (2) 8,368 9,008 8,287 Other reimbursements paid to our Dealer Manager 396 441 591 Advisory fees related to the disposition of real properties 2,140 4,962 2,064 Development management fee (3) 31 88 181 Primary dealer fee (4) 3,465 2,540 2,197 Selling commissions 100 114 187 Dealer manager fees 381 258 121 Distribution fees 70 50 28 Total $ 29,808 $ 34,544 $ 29,575 _______________________________ (1) Amounts reported for the years ended December 31, 2016 , 2015 and 2014 include approximately $1.1 million , $1.1 million and $653,000 respectively, that we were not obligated to pay in consideration of the issuance of Company RSUs to our Advisor. (2) Other reimbursements paid to our Advisor include reimbursements for a portion of compensation costs of employees of our Advisor related to activities for which our Advisor does not otherwise receive a separate fee. We reimbursed our Advisor approximately $6.8 million , $7.3 million and $6.9 million for the years ended December 31, 2016 , 2015 and 2014 , respectively. These reimbursements include a portion of the compensation costs for certain of our named executives. The balance of such reimbursements are made up primarily of other general overhead and administrative expenses, including, but not limited to, allocated rent paid to both third parties and affiliates of our Advisor, equipment, utilities, insurance, travel and entertainment, and other costs. (3) Pursuant to our amended Advisory Agreement effective as of June 23, 2016, our Advisor will no longer receive a development management fee in exchange for providing development management services. (4) Amounts reported represent primary dealer fees we paid to our Dealer Manager based on the gross proceeds raised by participating broker-dealers pursuant to certain selected dealer agreements. Of the primary dealer fee earned during the years ended December 31, 2016 , 2015 and 2014 , our Dealer Manager reallowed approximately $3.1 million , $2.3 million and $2.0 million , respectively, to participating third-party broker-dealers and retained approximately $347,000 , $254,000 and $220,000 , respectively.

Net Income Per Common Share (Ta

Net Income Per Common Share (Tables)	12 Months Ended
	Dec. 31, 2016
Earnings Per Share [Abstract]
Details of Numerator and Denominator Used to Calculate Diluted Net Income Per Common Share	Reconciliations of the numerator and denominator used to calculate basic net income per common share to the numerator and denominator used to calculate diluted net income per common share for the years ended December 31, 2016 , 2015 and 2014 are described in the following table (amounts in thousands, except per share information): For the Year Ended December 31, 2016 2015 2014 Numerator Income from continuing operations $ 55,048 $ 131,659 $ 3,990 Income from continuing operations attributable (5,072 ) (7,404 ) (340 ) Income from continuing operations 49,976 124,255 3,650 Dilutive noncontrolling interests share 3,883 8,632 233 Numerator for diluted earnings $ 53,859 $ 132,887 $ 3,883 Income from discontinued operations — — 30,004 Income from discontinued operations — — (4,462 ) Income from discontinued operations — — 25,542 Dilutive noncontrolling interests share — — 1,915 Numerator for diluted earnings $ — $ — $ 27,457 Denominator Weighted average shares outstanding-basic 159,648 175,938 178,273 Incremental weighted average shares effect 12,398 12,851 12,718 Weighted average shares outstanding-diluted 172,046 188,789 190,991 INCOME PER COMMON SHARE-BASIC Net income from continuing operations $ 0.31 $ 0.70 $ 0.02 Net income from discontinued operations — — 0.14 Net income $ 0.31 $ 0.70 $ 0.16

Segment Information (Tables)

Segment Information (Tables)	12 Months Ended
	Dec. 31, 2016
Segment Reporting [Abstract]
Revenue and Components of Net Operating Income	The following table sets forth revenue and NOI of our segments for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, Revenue NOI (unaudited) 2016 2015 2014 2016 2015 2014 Real property (1) Office $ 126,782 $ 137,204 $ 139,245 $ 84,300 $ 97,441 $ 104,533 Industrial 6,073 8,672 23,307 4,323 6,755 20,780 Retail 82,372 72,402 61,649 61,017 54,492 47,891 Total $ 215,227 $ 218,278 $ 224,201 $ 149,640 $ 158,688 $ 173,204 _______________________________ (1) Excludes results of operations of real properties categorized as discontinued operations.
Reconciliation of Net Operating Income to Reported Net Income	The following table is a reconciliation of our reported net income attributable to common stockholders to our unaudited NOI for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands). For the Year Ended December 31, 2016 2015 2014 Net income attributable to common $ 49,976 $ 124,255 $ 29,192 Debt-related income (943 ) (6,922 ) (7,396 ) Real estate depreciation and amortization expense 80,105 83,114 88,994 General and administrative expenses 9,450 10,720 11,108 Advisory fees, related party 14,857 17,083 15,919 Acquisition-related expenses 667 2,644 1,205 Impairment of real estate property 2,677 8,124 9,500 Interest and other income (2,207 ) (2,192 ) (1,168 ) Interest expense 40,782 47,508 61,903 (Gain) loss on extinguishment of debt and financing commitments (5,136 ) 1,168 63 Gain on sale of real property (45,660 ) (134,218 ) (10,914 ) Discontinued operations — — (30,004 ) Net income attributable to noncontrolling interests 5,072 7,404 4,802 Net operating income $ 149,640 $ 158,688 $ 173,204
Summary of Total Assets by Business Segment	The following table reflects our total assets by business segment as of December 31, 2016 and December 31, 2015 (amounts in thousands). As of December 31, 2016 2015 Segment assets: Net investments in real property Office $ 825,961 $ 1,027,132 Industrial 57,651 61,231 Retail 827,799 785,854 Total segment assets, net 1,711,411 1,874,217 Non-segment assets: Debt-related investments, net 15,209 15,722 Cash and cash equivalents 13,864 15,769 Other non-segment assets (1) 43,244 55,183 Total assets $ 1,783,728 $ 1,960,891 _______________________________ (1) Other non-segment assets primarily consist of corporate assets including restricted cash and receivables, including straight-line rent receivable.

Quarterly Financial Data (Una40

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Data (Unaudited)	The following tables present selected unaudited quarterly financial data for each quarter during the years ended December 31, 2016 and 2015 (amounts in thousands, except per share information). Certain reclassifications have been made to prior period results to conform to the current presentation. Certain totals and subtotals within the following table may not sum due to de minimus rounding adjustments. The following disclosures exclude the results from discontinued operations. For the Quarter Ended For the Year Ended December 31, 2016 March 31, 2016 June 30, 2016 September 30, 2016 December 31, 2016 Rental revenue $ 55,544 $ 52,702 $ 53,258 $ 53,723 $ 215,227 Debt-related income 238 237 235 233 943 Total revenue 55,782 52,939 53,493 53,956 216,170 Total operating expenses (43,177 ) (42,313 ) (44,567 ) (43,286 ) (173,343 ) Other income (expenses) 35,633 (10,491 ) (5,608 ) (7,313 ) 12,221 Net income 48,238 135 3,318 3,357 55,048 Net income attributable to noncontrolling interests (4,456 ) (18 ) (353 ) (245 ) (5,072 ) NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 43,782 $ 117 $ 2,965 $ 3,112 $ 49,976 NET INCOME PER BASIC AND DILUTED COMMON SHARE $ 0.27 $ — $ 0.02 $ 0.02 $ 0.31 For the Quarter Ended For the March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Rental revenue $ 59,379 $ 51,075 $ 52,854 $ 54,970 $ 218,278 Debt-related income 3,203 1,584 807 1,328 6,922 Total revenue 62,582 52,659 53,661 56,298 225,200 Total operating expenses (44,803 ) (41,168 ) (49,406 ) (45,898 ) (181,275 ) Other income (expenses) 114,422 (11,384 ) (5,680 ) (9,624 ) 87,734 Net income (loss) 132,201 107 (1,425 ) 776 131,659 Net (income) loss attributable to noncontrolling interests (8,618 ) (37 ) 1,297 (46 ) (7,404 ) NET INCOME (LOSS) ATTRIBUTABLE TO COMMON STOCKHOLDERS $ 123,583 $ 70 $ (128 ) $ 730 $ 124,255 NET INCOME (LOSS) PER BASIC AND DILUTED COMMON SHARE $ 0.69 $ — $ — $ 0.01 $ 0.70

Organization (Details)

Organization (Details) - USD ($) shares in Millions	12 Months Ended			38 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Sep. 15, 2015	Sep. 16, 2015	Jul. 12, 2012
Organization [Line Items]
Percentage of proceeds received from public offerings of common stock contributed to our Operating Partnership	100.00%
Proceeds from issuance, DRIP	$ 20,576,000	$ 21,347,000	$ 20,831,000
NAV Offering
Organization [Line Items]
Maximum NAV share value total	890,000,000					$ 3,000,000,000
Maximum NAV share value primary offering						2,250,000,000
Maximum share value, DRIP	243,100,000					$ 750,000,000
Gross proceeds from sale of shares in the Offering	$ 293,000,000			$ 183,000,000
Shares issued	40.6			25.8
Proceeds from issuance, DRIP	$ 10,400,000			$ 3,400,000
Follow-On Offering
Organization [Line Items]
Maximum NAV share value total					$ 1,000,000,000
Maximum NAV share value primary offering					750,000,000
Maximum share value, DRIP					$ 250,000,000
Gross proceeds from sale of shares in the Offering	$ 110,000,000
Shares issued	14.8

Summary Of Significant Accoun42

Summary Of Significant Accounting Policies (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Significant Accounting Policies [Line Items]
Investment in real property	$ 1,711,411,000	$ 1,874,217,000
Net debt issuance costs	6,295,000	6,317,000
Other receivables	29,900,000	34,100,000
Allowances on receivables	1,000,000	628,000
Accumulated other comprehensive income (loss) related to derivatives	(5,900,000)
Accumulated other comprehensive income (loss) related to real estate securities	$ 1,100,000
Class A and Class W Dealer Manager fee	0.60%
Class I Dealer Manager fee	0.10%
Class A distribution fee	0.50%
Annual dealer fee from completion of an offering as percentage of gross proceeds	10.00%
Acquisition-related expenses	$ 667,000	2,644,000	$ 1,205,000
Restricted Stock Units (RSUs) | Director
Significant Accounting Policies [Line Items]
Vesting period	1 year
Restricted Stock Units (RSUs) | Company Advisor | Class I
Significant Accounting Policies [Line Items]
Offset period	12 months
Noncontrolling Interests
Significant Accounting Policies [Line Items]
Accumulated other comprehensive income (loss) related to derivatives	$ (1,200,000)
Accumulated other comprehensive income (loss) related to real estate securities	(1,300,000)
Unsecured Borrowings | Restatement Adjustment
Significant Accounting Policies [Line Items]
Net debt issuance costs	4,400,000	5,100,000
Mortgages | Restatement Adjustment
Significant Accounting Policies [Line Items]
Net debt issuance costs	1,800,000	1,200,000
Variable Interest Entity Investments
Significant Accounting Policies [Line Items]
Investment in real property	48,200,000	76,900,000
Mortgage notes	0	$ 50,100,000
Dealer Manager
Significant Accounting Policies [Line Items]
Liabilities to related parties	$ 3,900,000

Summary of Significant Accoun43

Summary of Significant Accounting Policies (Amortization Expense for Intangible Lease Assets and Adjustments to Rental Revenue for Above-Market Lease Assets and Below-Market Lease Liabilities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Above-Market Lease Assets
Finite-Lived Intangible Assets [Line Items]
Net rental revenue adjustment	$ (5,515)	$ (5,216)	$ (6,708)
Below-Market Lease Liabilities
Finite-Lived Intangible Assets [Line Items]
Net rental revenue adjustment	6,050	6,029	7,324
Leases, Acquired-in-Place, Market Adjustment
Finite-Lived Intangible Assets [Line Items]
Net rental revenue adjustment	535	813	616
Leases, Acquired-in-Place
Finite-Lived Intangible Assets [Line Items]
Intangible lease asset amortization	(40,797)	$ (44,260)	$ (48,937)
Write-offs of unamortized intangible lease assets and liabilities due to early lease terminations	$ 1,700

Summary Of Significant Accoun44

Summary Of Significant Accounting Policies (Depreciation and Amortization Computed on Straight-Line Basis over Estimated Useful Lives) (Details)	12 Months Ended
	Dec. 31, 2016
Land
Property, Plant and Equipment [Line Items]
Depreciable life description	Not depreciated
Building
Property, Plant and Equipment [Line Items]
Depreciable Life (in years)	40 years
Building and Land Improvements | Minimum
Property, Plant and Equipment [Line Items]
Depreciable Life (in years)	10 years
Building and Land Improvements | Maximum
Property, Plant and Equipment [Line Items]
Depreciable Life (in years)	40 years
Tenant Improvements
Property, Plant and Equipment [Line Items]
Depreciable life description	Lesser of useful life or lease term
Lease Commissions
Property, Plant and Equipment [Line Items]
Depreciable life description	Over lease term
Intangible In-Place Lease Assets
Property, Plant and Equipment [Line Items]
Depreciable life description	Over lease term
Above-Market Lease Assets
Property, Plant and Equipment [Line Items]
Depreciable life description	Over lease term
Below-Market Lease Liabilities
Property, Plant and Equipment [Line Items]
Depreciable life description	Over lease term, including below-market fixed-rate renewal options

Summary Of Significant Accoun45

Summary Of Significant Accounting Policies (Expected Amortization During Next Five Years and Thereafter Related to Acquired Above-Market Lease Assets, Below-Market Lease Liabilities and Acquired In-Place Lease Intangibles) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Above-Market Lease Assets
Acquired Finite-Lived Intangible Assets [Line Items]
2,017	$ (2,379)
2,018	(727)
2,019	(633)
2,020	(213)
2,021	(201)
Thereafter	(456)
Total	(4,609)
Below-Market Lease Liabilities
Acquired Finite-Lived Intangible Assets [Line Items]
2,017	5,307
2,018	4,695
2,019	3,977
2,020	3,272
2,021	2,847
Thereafter	39,447
Total	59,545
Leases, Acquired-in-Place, Market Adjustment
Acquired Finite-Lived Intangible Assets [Line Items]
2,017	2,928
2,018	3,968
2,019	3,344
2,020	3,059
2,021	2,646
Thereafter	38,991
Total	54,936
Leases, Acquired-in-Place
Acquired Finite-Lived Intangible Assets [Line Items]
2,017	27,158
2,018	16,909
2,019	11,863
2,020	6,898
2,021	5,412
Thereafter	15,572
Total	$ 83,812

Summary Of Significant Accoun46

Summary Of Significant Accounting Policies (Straight-Line Rental Adjustments and Tenant Recovery Income) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Straight-line rent adjustments	$ (1,263)	$ (976)	$ 3,037
Tenant recovery income	41,707	37,526	31,092
Real estate taxes paid directly by tenants subject to triple net lease Contracts	$ 4,300	$ 7,000	$ 12,400

Investments in Real Property (N

Investments in Real Property (Narrative) (Details) $ in Thousands		Aug. 05, 2015USD ($)	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)property
Real Estate Properties [Line Items]
Impairment charges	[1]		$ 2,677	$ 8,124	$ 9,500
Concentration risk percentage			38.50%
Rental revenue form lease			$ 65,428
New Jersey
Real Estate Properties [Line Items]
Concentration risk percentage			20.00%
Massachusetts
Real Estate Properties [Line Items]
Concentration risk percentage			20.00%
California
Real Estate Properties [Line Items]
Concentration risk percentage			14.00%
Texas
Real Estate Properties [Line Items]
Concentration risk percentage			12.00%
Charles Schwab and Company, Inc.
Real Estate Properties [Line Items]
Concentration risk percentage			13.90%
Rental revenue form lease			$ 23,645
Charles Schwab and Company, Inc. | Continuing Operations
Real Estate Properties [Line Items]
Concentration risk percentage			11.80%
Rental revenue form lease			$ 25,400
Property, Harborside | Charles Schwab and Company, Inc.
Real Estate Properties [Line Items]
Concentration risk percentage			13.80%
Rental revenue form lease			$ 23,500
Land, Buildings and Improvements | Industrial Property
Real Estate Properties [Line Items]
Number of properties classified as held for sale | property					12
Land, Buildings and Improvements | Office | Consolidated Properties
Real Estate Properties [Line Items]
Ownership interest in property			80.00%
Land, Buildings and Improvements | Office | Property, Sunset Hills, Washington, DC Market | Consolidated Properties
Real Estate Properties [Line Items]
Impairment charges			$ 2,100
Fair value of property			18,600
Land, Buildings and Improvements | Office | Property, 40 Boulevard, Chicago, IL Market | Consolidated Properties
Real Estate Properties [Line Items]
Impairment charges			587
Fair value of property			9,900
Land, Buildings and Improvements | Office | Property, Washington Commons, Chicago, IL | Consolidated Properties
Real Estate Properties [Line Items]
Impairment charges				$ 6,500
Ownership interest in property				80.00%
Fair value of property				$ 17,000
Land, Buildings and Improvements | Office | Property, Harborside
Real Estate Properties [Line Items]
Purchase option, estimated exercise price			239,400
Option termination fee		$ 12,000
Land, Buildings and Improvements | Office | Colshire, Washington, DC
Real Estate Properties [Line Items]
Purchase option, estimated exercise price			$ 158,400
Land, Buildings and Improvements | Retail | Retail Property, Pittsburgh, Pennsylvania Market | Wholly Owned Properties
Real Estate Properties [Line Items]
Impairment charges				1,600	$ 9,500
Fair value of property				$ 12,500
[1]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.

Investments In Real Property (C

Investments In Real Property (Consolidated Investments in Real Property) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Investment in real property, Gross book value	$ 2,204,322	$ 2,380,174
Intangible lease liabilities, Gross book value	(90,980)	(93,549)
Real estate investments, Gross book value	2,113,342	2,286,625
Accumulated depreciation and amortization	(492,911)	(505,957)
Intangible lease liabilities, accumulated amortization	31,435	29,675
Accumulated depreciation/amortization	(461,476)	(476,282)
Investment in real property	1,711,411	1,874,217
Intangible lease liabilities, Net book value	(59,545)	(63,874)
Real estate investments, Net book value	1,651,866	1,810,343
Land
Real Estate Properties [Line Items]
Land	473,970	474,222
Building and Building Improvements
Real Estate Properties [Line Items]
Building and Improvements	1,364,878	1,469,662
Accumulated depreciation and amortization	(215,858)	(208,281)
Real estate investments, Net book value	1,149,020	1,261,381
Intangible In-Place Lease Assets
Real Estate Properties [Line Items]
Intangible Lease Assets	365,474	436,290
Accumulated depreciation and amortization	(277,053)	(297,676)
Intangible lease liabilities, Net book value	(88,421)	(138,614)
Office
Real Estate Properties [Line Items]
Investment in real property, Gross book value	1,109,178	1,348,173
Intangible lease liabilities, Gross book value	(15,121)	(18,923)
Real estate investments, Gross book value	1,094,057	1,329,250
Office | Land
Real Estate Properties [Line Items]
Land	171,176	203,889
Office | Building and Building Improvements
Real Estate Properties [Line Items]
Building and Improvements	701,859	833,655
Office | Intangible In-Place Lease Assets
Real Estate Properties [Line Items]
Intangible Lease Assets	236,143	310,629
Industrial Property
Real Estate Properties [Line Items]
Investment in real property, Gross book value	89,128	91,315
Intangible lease liabilities, Gross book value	(344)	(344)
Real estate investments, Gross book value	88,784	90,971
Industrial Property | Land
Real Estate Properties [Line Items]
Land	8,821	9,572
Industrial Property | Building and Building Improvements
Real Estate Properties [Line Items]
Building and Improvements	63,999	65,307
Industrial Property | Intangible In-Place Lease Assets
Real Estate Properties [Line Items]
Intangible Lease Assets	16,308	16,436
Retail
Real Estate Properties [Line Items]
Investment in real property, Gross book value	1,006,016	940,686
Intangible lease liabilities, Gross book value	(75,515)	(74,282)
Real estate investments, Gross book value	930,501	866,404
Retail | Land
Real Estate Properties [Line Items]
Land	293,973	260,761
Retail | Building and Building Improvements
Real Estate Properties [Line Items]
Building and Improvements	599,020	570,700
Retail | Intangible In-Place Lease Assets
Real Estate Properties [Line Items]
Intangible Lease Assets	$ 113,023	$ 109,225

Investments in Real Property (S

Investments in Real Property (Schedule Of Acquisitions Of Real Property) (Details) - Land, Buildings and Improvements - Retail Property, Suniland Shopping Center ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)ft²
Business Acquisition [Line Items]
Date of Acquisition	May 27, 2016
Acquired Ownership	100.00%
Contract Price | $	$ 66,500
Net Rentable Square Feet | ft²	82
Percent Leased at Acquisition	93.20%

Investments in Real Property 50

Investments in Real Property (Summary of Fair Value of Acquired Real Properties) (Details) - Land, Buildings and Improvements - Retail Property, Suniland Shopping Center $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Real Estate Properties [Line Items]
Land	$ 34,804
Building and Improvements	28,022
Intangible Lease Assets	5,880
Intangible Lease Liabilities	(2,113)
Total Fair Value	66,593
Prorations and Credits	(93)
Contract Price	$ 66,500
Weighted-Average Amortization Period, Intangible Lease Assets (Years)	5 years 9 months 18 days
Weighted-Average Amortization Period, Intangible Lease Liabilities (Years)	10 years 4 months 24 days

Investments in Real Property 51

Investments in Real Property (Summary of Disposed Properties) (Details) ft² in Thousands, $ in Thousands	Oct. 15, 2014USD ($)ft²property	Dec. 31, 2016USD ($)ft²	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)ft²property	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)ft²	Dec. 31, 2015USD ($)ft²property	Dec. 31, 2014USD ($)ft²property
Business Acquisition [Line Items]
Rentable square feet | ft²		2,183								2,183
Investment in real property		$ 1,711,411				$ 1,874,217				$ 1,711,411	$ 1,874,217
Aggregate revenues		$ 53,956	$ 53,493	$ 52,939	$ 55,782	$ 56,298	$ 53,661	$ 52,659	$ 62,582	$ 216,170	$ 225,200	$ 231,597
Disposed Properties
Business Acquisition [Line Items]
Net Rentable Square Feet | ft²						3,124					3,124	3,974
Percentage Leased											95.00%	93.00%
Contract Sales Price											$ 496,236	$ 230,459
Gain (loss) on Sale											$ 134,218	40,051
Disposed Properties | Industrial Property Silicon Valley CA
Business Acquisition [Line Items]
Net Rentable Square Feet | ft²	177
Number of Properties | property	3
Investment in real property	$ 13,100
Real estate investments loan principal	$ 13,600
Disposed Properties | Office | Office Property, Los Angeles, CA Market
Business Acquisition [Line Items]
Net Rentable Square Feet | ft²						111					111
Percentage Leased											0.00%
Disposed Properties | Industrial Property
Business Acquisition [Line Items]
Closing costs and fees											$ 7,800
Aggregate revenues											6,200	$ 33,700
Disposed Properties | Industrial Property | Series of Individually Immaterial Business Acquisitions
Business Acquisition [Line Items]
Closing costs and fees											$ 4,000
Disposed Properties | Land, Buildings and Improvements
Business Acquisition [Line Items]
Net Rentable Square Feet | ft²		1,236								1,236
Percentage Leased										73.00%
Contract Sales Price										$ 220,075
Gain (loss) on Sale										$ 45,660
Disposed Properties | Land, Buildings and Improvements | Industrial Portfolio, Various Markets
Business Acquisition [Line Items]
Number of Properties | property												12
Disposed Properties | Land, Buildings and Improvements | Office
Business Acquisition [Line Items]
Number of Properties | property						6					6
Rentable square feet | ft²						1,100					1,100
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Washington DC Market
Business Acquisition [Line Items]
Ownership										100.00%
Net Rentable Square Feet | ft²		574								574
Percentage Leased										100.00%
Disposition Date										Feb. 18, 2016
Contract Sales Price										$ 158,400
Gain (loss) on Sale										$ 41,241
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Chicago, IL Market
Business Acquisition [Line Items]
Ownership										80.00%
Net Rentable Square Feet | ft²		107								107
Percentage Leased										66.00%
Disposition Date										Mar. 1, 2016
Contract Sales Price										$ 9,850
Gain (loss) on Sale										$ 0
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Chicago, IL Market (2)
Business Acquisition [Line Items]
Ownership										80.00%
Net Rentable Square Feet | ft²		199								199
Percentage Leased										81.00%
Disposition Date										Mar. 1, 2016
Contract Sales Price										$ 18,000
Gain (loss) on Sale										$ 159
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Washington DC Market (2)
Business Acquisition [Line Items]
Ownership										100.00%
Net Rentable Square Feet | ft²		178								178
Percentage Leased										0.00%
Disposition Date										Sep. 30, 2016
Contract Sales Price										$ 18,600
Gain (loss) on Sale										$ 0
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Silicon Valley Market
Business Acquisition [Line Items]
Ownership											100.00%
Net Rentable Square Feet | ft²						53					53
Percentage Leased											100.00%
Disposition Date											Dec. 14, 2015
Contract Sales Price											$ 16,750
Gain (loss) on Sale											$ 970
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Los Angeles, CA Market
Business Acquisition [Line Items]
Ownership											100.00%
Disposition Date											Jul. 20, 2015
Contract Sales Price											$ 12,549
Gain (loss) on Sale											$ 2,866
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Dallas, TX Market
Business Acquisition [Line Items]
Ownership											100.00%
Net Rentable Square Feet | ft²						177					177
Percentage Leased											88.00%
Disposition Date											Jan. 16, 2015
Contract Sales Price											$ 46,600
Gain (loss) on Sale											$ 23,125
Disposed Properties | Land, Buildings and Improvements | Office | Office Property; Denver, CO Market
Business Acquisition [Line Items]
Ownership												100.00%
Net Rentable Square Feet | ft²												138
Percentage Leased												100.00%
Disposition Date												Nov. 7, 2014
Contract Sales Price												$ 9,100
Gain (loss) on Sale												$ 4,032
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, East Bay, CA Market
Business Acquisition [Line Items]
Ownership												100.00%
Net Rentable Square Feet | ft²												60
Percentage Leased												0.00%
Disposition Date												Jun. 13, 2014
Contract Sales Price												$ 5,700
Gain (loss) on Sale												$ 2,755
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Little Rock, AR Market
Business Acquisition [Line Items]
Ownership												100.00%
Net Rentable Square Feet | ft²												102
Percentage Leased												100.00%
Disposition Date												Feb. 25, 2014
Contract Sales Price												$ 19,550
Gain (loss) on Sale												$ 1,350
Disposed Properties | Land, Buildings and Improvements | Office | Office Property, Los Angeles, CA Included In Various Markets
Business Acquisition [Line Items]
Number of Properties | property						3					3
Disposed Properties | Land, Buildings and Improvements | Retail | Retail Property, Greater Boston Market
Business Acquisition [Line Items]
Ownership										100.00%
Net Rentable Square Feet | ft²		39								39
Percentage Leased										100.00%
Disposition Date										Aug. 5, 2016
Contract Sales Price										$ 3,625
Gain (loss) on Sale										$ 975
Disposed Properties | Land, Buildings and Improvements | Retail | Retail Property, Greater Boston Market (2)
Business Acquisition [Line Items]
Ownership										100.00%
Net Rentable Square Feet | ft²		13								13
Percentage Leased										100.00%
Disposition Date										Nov. 18, 2016
Contract Sales Price										$ 6,200
Gain (loss) on Sale										$ 2,165
Disposed Properties | Land, Buildings and Improvements | Retail | Retail Property, Greater Boston, MA Market (3)
Business Acquisition [Line Items]
Ownership											100.00%
Net Rentable Square Feet | ft²						11					11
Percentage Leased											100.00%
Disposition Date											Dec. 18, 2015
Contract Sales Price											$ 1,625
Gain (loss) on Sale											$ 14
Disposed Properties | Land, Buildings and Improvements | Retail | Retail Property, Pittsburgh, PA Market
Business Acquisition [Line Items]
Ownership											100.00%
Net Rentable Square Feet | ft²						103					103
Percentage Leased											93.00%
Disposition Date											May 5, 2015
Contract Sales Price											$ 12,500
Gain (loss) on Sale											$ 0
Disposed Properties | Land, Buildings and Improvements | Retail | Retail Property, Greater Boston Market, (4)
Business Acquisition [Line Items]
Ownership												100.00%
Net Rentable Square Feet | ft²												110
Percentage Leased												0.00%
Disposition Date												Feb. 18, 2014
Contract Sales Price												$ 6,750
Gain (loss) on Sale												$ 2,276
Disposed Properties | Land, Buildings and Improvements | Industrial Property
Business Acquisition [Line Items]
Number of Properties | property						6					6
Rentable square feet | ft²						1,600					1,600
Disposed Properties | Land, Buildings and Improvements | Industrial Property | Industrial Property, Louisville, KY Market
Business Acquisition [Line Items]
Ownership										90.00%
Net Rentable Square Feet | ft²		126								126
Percentage Leased										33.00%
Disposition Date										Sep. 2, 2016
Contract Sales Price										$ 5,400
Gain (loss) on Sale										$ 1,120
Disposed Properties | Land, Buildings and Improvements | Industrial Property | Industrial Property, Silicon Valley, CA, Second
Business Acquisition [Line Items]
Ownership												100.00%
Net Rentable Square Feet | ft²												177
Percentage Leased												41.00%
Disposition Date												Oct. 15, 2014
Contract Sales Price												$ 13,579
Gain (loss) on Sale												$ 0
Disposed Properties | Land, Buildings and Improvements | Industrial Property | Industrial Portfolio, Various Markets
Business Acquisition [Line Items]
Ownership												93.00%
Net Rentable Square Feet | ft²												3,387
Percentage Leased												99.00%
Disposition Date												Jan. 22, 2014
Contract Sales Price												$ 175,000
Gain (loss) on Sale												$ 29,545
Disposed Properties | Land, Buildings and Improvements | Office and Industrial | Office and Industrial Portfolio, Various Markets
Business Acquisition [Line Items]
Ownership											100.00%
Net Rentable Square Feet | ft²						2,669					2,669
Percentage Leased											100.00%
Disposition Date											Mar. 11, 2015
Contract Sales Price											$ 398,635
Gain (loss) on Sale											$ 105,542
Disposed Properties | Land | Land Parcel Property, Denver, CO Market
Business Acquisition [Line Items]
Ownership											100.00%
Disposition Date											Aug. 12, 2015
Contract Sales Price											$ 7,577
Gain (loss) on Sale											$ 1,701
Disposed Properties | Land | Land Parcel, Denver, CO (2)
Business Acquisition [Line Items]
Ownership												100.00%
Disposition Date												Apr. 14, 2014
Contract Sales Price												$ 780
Gain (loss) on Sale												$ 93

Investments in Real Property 52

Investments in Real Property (Schedule of Amounts Recorded as Discontinued Operations) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate [Abstract]
Revenues				$ 969
Rental expense				(340)
Real estate depreciation and amortization expense				0
Interest expense				(296)
Other expenses				(8)
Income from discontinued operations				325
Gain on disposition				29,679
Discontinued operations	[1]	$ 0	$ 0	30,004
Discontinued operations attributable to noncontrolling interests		0	0	(4,462)
Income from discontinued operations attributable to common stockholders		$ 0	$ 0	$ 25,542
[1]	Includes approximately $1.6 million paid to our Advisor for fees associated with the disposition of real properties during the year ended December 31, 2014.

Investments in Real Property (F

Investments in Real Property (Future Minimum Rental Receivable Under Non Cancelable Operating and Ground Leases) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Real Estate [Abstract]
2,017	$ 144,932
2,018	128,008
2,019	116,595
2,020	85,928
2,021	68,617
Thereafter	214,531
Total	$ 758,611

Investments in Real Property 54

Investments in Real Property (Summary of Top Five Tenants as Percentage of Consolidated Annual Base Rent and Square Feet) (Details) ft² in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)ft²propertytenantlease
Concentration Risk [Line Items]
Locations | property	19
Annualized Base Rent | $	$ 65,428
% of Total Annualized Base Rent	38.50%
Square Feet	2,183
% of Total Portfolio Square Feet	26.70%
Percentage of future minimum rental revenue from two former top five tenants	3.00%
Property, Harborside
Concentration Risk [Line Items]
Percentage of area of real estate property Leased	59.00%
Number of lease agreements executed | tenant	9
Area of real estate property leased	352
Charles Schwab and Company, Inc.
Concentration Risk [Line Items]
Locations | property	2
Industry	Securities, Commodities, Fin. Inv./Rel. Activities
Annualized Base Rent | $	$ 23,645
% of Total Annualized Base Rent	13.90%
Square Feet	602
% of Total Portfolio Square Feet	7.40%
Number of leases | lease	2
Charles Schwab and Company, Inc. | Property, Harborside
Concentration Risk [Line Items]
Annualized Base Rent | $	$ 23,500
% of Total Annualized Base Rent	13.80%
Net Rentable Square Feet	594
Percentage of area of real estate property subleased	100.00%
Number of sublease tenants | tenant	27
Sybase, Inc.
Concentration Risk [Line Items]
Locations | property	1
Industry	Publishing Information (except Internet)
Annualized Base Rent | $	$ 18,692
% of Total Annualized Base Rent	11.00%
Square Feet	405
% of Total Portfolio Square Feet	5.00%
Stop and Shop
Concentration Risk [Line Items]
Locations | property	14
Industry	Food and Beverage Stores
Annualized Base Rent | $	$ 14,125
% of Total Annualized Base Rent	8.30%
Square Feet	853
% of Total Portfolio Square Feet	10.40%
Novo Nordisk
Concentration Risk [Line Items]
Locations | property	1
Industry	Chemical Manufacturing
Annualized Base Rent | $	$ 4,627
% of Total Annualized Base Rent	2.70%
Square Feet	167
% of Total Portfolio Square Feet	2.00%
Seton Health Care
Concentration Risk [Line Items]
Locations | property	1
Industry	Hospitals
Annualized Base Rent | $	$ 4,339
% of Total Annualized Base Rent	2.60%
Square Feet	156
% of Total Portfolio Square Feet	1.90%
Top Two Tenants
Concentration Risk [Line Items]
% of Total Annualized Base Rent	24.90%

Debt-Related Investments (Narra

Debt-Related Investments (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016property	Dec. 31, 2015USD ($)property
Receivables [Abstract]
Number of debt investments | property	3	3
Weighted average maturity of our debt investments	2 years 2 months 26 days
Direct write off of allowance for loan loss | $		$ 3

Debt-Related Investments (Sched

Debt-Related Investments (Schedule of Debt Related Income) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)security	Dec. 31, 2015USD ($)security	Dec. 31, 2014USD ($)security
Investment [Line Items]
Debt-related income	$ 233	$ 235	$ 237	$ 238	$ 1,328	$ 807	$ 1,584	$ 3,203	$ 943	$ 6,922	$ 7,396
Weighted Average Yield	6.10%								6.10%
Number of debt investment repaid | security									0	6	3
Mortgage Notes
Investment [Line Items]
Debt-related income									$ 943	$ 5,136	$ 4,521
Weighted Average Yield	6.10%								6.10%
Mezzanine Debt
Investment [Line Items]
Debt-related income									$ 0	$ 1,786	$ 2,875

Debt-Related Investments (Debt

Debt-Related Investments (Debt Investment Activity) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Investment in debt related investments:
Beginning balance January 1	$ 15,722	$ 94,951
Investments	0	3,465
Principal repayments	(469)	(82,417)
Amortization of deferred fees, costs, and discounts/premiums	(44)	(277)
Ending balance December 31	$ 15,209	15,722
Interest capitalized		$ 2,000

Debt-Related Investments (Summa

Debt-Related Investments (Summary of Debt Related Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investment [Line Items]
Mortgage loans, interest rate	6.40%
Face Amount of Debt	$ 15,140
Debt-related investments, net	$ 15,209	$ 15,722	$ 94,951
Mortgage Notes | Mountain | Fixed
Investment [Line Items]
Region	Mountain
Interest Rate Fixed or Variable	Fixed
Mortgage loans, interest rate	5.20%
Face Amount of Debt	$ 3,048
Debt-related investments, net	$ 3,036
Mortgage Notes | Southeast | Fixed
Investment [Line Items]
Region	Southeast
Interest Rate Fixed or Variable	Fixed
Mortgage loans, interest rate	7.00%
Face Amount of Debt	$ 8,483
Debt-related investments, net	$ 8,551
Mortgage Notes | Northeast | Fixed
Investment [Line Items]
Region	Northeast
Interest Rate Fixed or Variable	Fixed
Mortgage loans, interest rate	6.20%
Face Amount of Debt	$ 3,609
Debt-related investments, net	$ 3,622

Debt Obligations (Narrative) (D

Debt Obligations (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)entitylenderloanextension	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Number of interest-only mortgage notes | loan	7
Number of amortizing mortgage notes | loan	4
Interest-only mortgage notes, outstanding balance	$ 316,300,000
Amortizing mortgage notes outstanding balance	27,200,000
Unsecured borrowings	$ 706,554,000	$ 511,905,000
Revolving Credit Facility
Debt Instrument [Line Items]
Number of lenders | lender	14
Credit facility, maximum borrowing capacity	$ 400,000,000
Potential maximum borrowing capacity	$ 900,000,000
Credit facility expiration date	Jan. 31, 2019
Revolving credit facility extension period	1 year
Percentage of extension fee to outstanding principal balance	0.15%
Unused portion of the Facility	$ 164,000,000	$ 230,800,000
Unsecured borrowings	$ 236,000,000
Revolving Credit Facility | Minimum
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	1.40%
Revolving Credit Facility | Maximum
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	2.30%
Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 675,000,000
Term Loan | $275 Million Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 275,000,000
Revolving credit facility extension period	1 year
Percentage of extension fee to outstanding principal balance	0.125%
Maturity date	Jan. 31, 2018
Number of one year extensions | extension	2
Length of extension option (years)	1 year
Unsecured borrowings	$ 275,000,000
Debt term	5 years
Term Loan | $275 Million Term Loan | Minimum | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	1.35%
Term Loan | $275 Million Term Loan | Maximum | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	2.20%
Term Loan | $200 Million Term Loan
Debt Instrument [Line Items]
Number of lenders | entity	6
Maturity date	Feb. 27, 2022
Number of one year extensions | extension	0
Unsecured borrowings	$ 200,000,000
Debt term	7 years
Term Loan | $200 Million Term Loan | Minimum | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	1.65%
Term Loan | $200 Million Term Loan | Maximum | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	2.55%
Letter of Credit
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 50,000,000
Swing Line Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	$ 50,000,000

Debt Obligations (Schedule of B

Debt Obligations (Schedule of Borrowings) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal Balance	$ 1,054,470	$ 1,105,849
Less: net debt issuance costs	(6,295)	(6,317)
Add: mark-to-market adjustment on assumed debt	626	1,304
Less: GAAP principal amortization on restructed debt	0	(3,067)
Total borrowings (net basis)	$ 1,048,801	$ 1,097,769
Weighted Average Stated Interest Rate	3.40%	4.10%
Mortgages
Debt Instrument [Line Items]
Principal Balance	$ 85,500
Fixed-Rate Mortgages
Debt Instrument [Line Items]
Principal Balance	$ 290,970	$ 580,959
Weighted Average Stated Interest Rate	4.90%	5.60%
Gross Investment Amount Securing Borrowings	$ 462,954	$ 1,016,560
Floating-Rate Mortgages
Debt Instrument [Line Items]
Principal Balance	$ 52,500	$ 7,890
Weighted Average Stated Interest Rate	2.30%	3.40%
Gross Investment Amount Securing Borrowings	$ 70,485	$ 16,618
Outstanding borrowings interest rate spread over LIBOR	1.65%	3.00%
Total Mortgage Notes
Debt Instrument [Line Items]
Principal Balance	$ 343,470	$ 588,849
Weighted Average Stated Interest Rate	4.50%	5.50%
Gross Investment Amount Securing Borrowings	$ 533,439	$ 1,033,178
Line of Credit
Debt Instrument [Line Items]
Principal Balance	$ 236,000	$ 167,000
Weighted Average Stated Interest Rate	2.30%	1.90%
Weighted average interest rate	2.28%
Line of Credit | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	1.55%	1.40%
Line of Credit | Interest Rate Swap
Debt Instrument [Line Items]
Principal Balance	$ 12,100	$ 25,400
Weighted average interest rate		1.88%
Term Loans
Debt Instrument [Line Items]
Principal Balance	$ 475,000	$ 350,000
Weighted Average Stated Interest Rate	3.20%	2.60%
Effective interest rate	3.17%	2.59%
Term Loans | LIBOR
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	1.60%	1.52%
Unsecured Borrowings
Debt Instrument [Line Items]
Principal Balance	$ 711,000	$ 517,000
Weighted Average Stated Interest Rate	2.90%	2.40%

Debt Obligations (Schedule of M

Debt Obligations (Schedule of Mortgage Notes) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Principal Balance	$ 1,054,470	$ 1,105,849
Mortgages
Debt Instrument [Line Items]
Principal Balance	$ 85,500
Stated Interest Rate	2.51%
Mortgages | Mortgage Note, Preston Sherry Plaza
Debt Instrument [Line Items]
Principal Balance	$ 33,000
Stated Interest Rate	3.05%
Outstanding borrowings interest rate spread over LIBOR	1.60%
Effective interest rate	3.051%
Mortgages | Mortgage Note, 1300 Connecticut
Debt Instrument [Line Items]
Principal Balance	$ 52,500
Stated Interest Rate	2.17%
Outstanding borrowings interest rate spread over LIBOR	1.65%
Effective interest rate	2.852%

Debt Obligations Debt Obligatio

Debt Obligations Debt Obligations (Schedule Of Repayment Of Mortgage Notes And Repurchase Facility) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)loan	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Debt Instrument [Line Items]
Number of mortgage notes repaid | loan	9
Gain (loss) on extinguishment of debt and financing commitments	$ 5,136	$ (1,168)	$ (63)
Mortgage Note, Washington Commons
Debt Instrument [Line Items]
Contingently payable mortgage note, amount	5,100
Gain (loss) on extinguishment of debt and financing commitments	$ 5,100
Mortgage Note, 40 Boulevard
Debt Instrument [Line Items]
Outstanding borrowings interest rate spread over LIBOR	3.00%
Mortgages
Debt Instrument [Line Items]
Balance Repaid/Extinguished	$ 326,167
Stated Interest Rate	2.51%
Stated interest rate, weighted average	5.82%
Mortgages | Mortgage Note, 1300 Connecticut
Debt Instrument [Line Items]
Repayment Date	Jan. 12, 2016
Balance Repaid/Extinguished	$ 44,979
Stated Interest Rate	6.81%
Maturity date	Apr. 10, 2016
Mortgages | Mortgage Note, Washington Commons
Debt Instrument [Line Items]
Repayment Date	Feb. 1, 2016
Balance Repaid/Extinguished	$ 21,300
Stated Interest Rate	5.94%
Maturity date	Feb. 1, 2016
Mortgages | Mortgage Note, 40 Boulevard
Debt Instrument [Line Items]
Repayment Date	Mar. 1, 2016
Balance Repaid/Extinguished	$ 7,830
Stated Interest Rate	3.44%
Maturity date	Mar. 11, 2016
Mortgages | Mortgage Note, Jay Street
Debt Instrument [Line Items]
Repayment Date	Apr. 11, 2016
Balance Repaid/Extinguished	$ 23,500
Stated Interest Rate	6.05%
Maturity date	Jul. 11, 2016
Mortgages | Mortgage Note, 655 Montgomery
Debt Instrument [Line Items]
Repayment Date	Apr. 11, 2016
Balance Repaid/Extinguished	$ 55,683
Stated Interest Rate	6.01%
Maturity date	Jun. 11, 2016
Mortgages | Mortgage Note, Bala Pointe
Debt Instrument [Line Items]
Repayment Date	Jul. 1, 2016
Balance Repaid/Extinguished	$ 24,000
Stated Interest Rate	5.89%
Maturity date	Sep. 1, 2016
Mortgages | Mortgage Note, Harborside
Debt Instrument [Line Items]
Repayment Date	Sep. 9, 2016
Balance Repaid/Extinguished	$ 104,675
Stated Interest Rate	5.50%
Maturity date	Dec. 10, 2016
Mortgages | Mortgage Note, Bandera Road
Debt Instrument [Line Items]
Repayment Date	Dec. 8, 2016
Balance Repaid/Extinguished	$ 21,500
Stated Interest Rate	5.46%
Maturity date	Feb. 8, 2017
Mortgages | Mortgage Note, Shiloh
Debt Instrument [Line Items]
Repayment Date	Dec. 8, 2016
Balance Repaid/Extinguished	$ 22,700
Stated Interest Rate	5.57%
Maturity date	Jan. 8, 2017

Debt Obligations (Summary of Bo

Debt Obligations (Summary of Borrowings Reflects Contractual Debt Maturities Footnote) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)loanextension	Dec. 31, 2015USD ($)
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	3
Principal Balance	$ 1,054,470,000	$ 1,105,849,000
Less: net debt issuance costs	(6,295,000)	(6,317,000)
Add: mark-to-market adjustment on assumed debt	626,000	1,304,000
Total borrowings (net basis)	1,048,801,000	1,097,769,000
Unsecured borrowings	706,554,000	$ 511,905,000
2,017
Debt Instrument [Line Items]
Outstanding Balance, 2017	162,460,000
2,018
Debt Instrument [Line Items]
Outstanding Balance, 2018	277,698,000
2,019
Debt Instrument [Line Items]
Outstanding Balance, 2019	239,698,000
2,020
Debt Instrument [Line Items]
Outstanding Balance, 2020	3,860,000
2,021
Debt Instrument [Line Items]
Outstanding Balance, 2021	12,764,000
2,022
Debt Instrument [Line Items]
Outstanding Balance, 2022	203,660,000
2,023
Debt Instrument [Line Items]
Outstanding Balance, 2023	77,899,000
2,024
Debt Instrument [Line Items]
Outstanding Balance, 2024	1,034,000
2,025
Debt Instrument [Line Items]
Outstanding Balance, 2025	71,094,000
2,026
Debt Instrument [Line Items]
Outstanding Balance, 2026	1,157,000
Thereafter
Debt Instrument [Line Items]
Outstanding Balance, Thereafter	$ 3,146,000
Mortgage Notes
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	11
Principal Balance	$ 343,470,000
Less: net debt issuance costs	(1,849,000)
Add: mark-to-market adjustment on assumed debt	626,000
Total borrowings (net basis)	$ 342,247,000
Mortgage Notes | 2017
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	4
Outstanding Balance, 2017	$ 162,460,000
Mortgage Notes | 2018
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2018	$ 2,698,000
Mortgage Notes | 2019
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2019	$ 3,698,000
Mortgage Notes | 2020
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2020	$ 3,860,000
Mortgage Notes | 2021
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2021	$ 12,764,000
Mortgage Notes | 2022
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2022	$ 3,660,000
Mortgage Notes | 2023
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	2
Outstanding Balance, 2023	$ 77,899,000
Mortgage Notes | 2024
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2024	$ 1,034,000
Mortgage Notes | 2025
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2025	$ 71,094,000
Mortgage Notes | 2026
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2026	$ 1,157,000
Mortgage Notes | Thereafter
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	2
Outstanding Balance, Thereafter	$ 3,146,000
Unsecured Debt
Debt Instrument [Line Items]
Principal Balance	711,000,000
Less: net debt issuance costs	(4,446,000)
Total borrowings (net basis)	$ 706,554,000
Unsecured Debt | 2017
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2017	$ 0
Unsecured Debt | 2018
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2018	$ 275,000,000
Unsecured Debt | 2019
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2019	$ 236,000,000
Unsecured Debt | 2020
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2020	$ 0
Unsecured Debt | 2021
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2021	$ 0
Unsecured Debt | 2022
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	1
Outstanding Balance, 2022	$ 200,000,000
Unsecured Debt | 2023
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2023	$ 0
Unsecured Debt | 2024
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2024	$ 0
Unsecured Debt | 2025
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2025	$ 0
Unsecured Debt | 2026
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, 2026	$ 0
Unsecured Debt | Thereafter
Debt Instrument [Line Items]
Number of Borrowings Maturing | loan	0
Outstanding Balance, Thereafter	$ 0
Term Loan
Debt Instrument [Line Items]
Credit facility, maximum borrowing capacity	675,000,000
Term Loan | $275 Million Term Loan
Debt Instrument [Line Items]
Unsecured borrowings	$ 275,000,000
Number of one year extensions | extension	2
Revolving credit facility extension period	1 year
Credit facility, maximum borrowing capacity	$ 275,000,000
Maturity date	Jan. 31, 2018
Term Loan | $200 Million Term Loan
Debt Instrument [Line Items]
Unsecured borrowings	$ 200,000,000
Number of one year extensions | extension	0
Maturity date	Feb. 27, 2022
Revolving Credit Facility
Debt Instrument [Line Items]
Unsecured borrowings	$ 236,000,000
Revolving credit facility extension period	1 year
Credit facility, maximum borrowing capacity	$ 400,000,000

Derivatives and Hedging Activ64

Derivatives and Hedging Activities (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)securityagreement	Dec. 31, 2015USD ($)agreement
Derivative [Line Items]
Estimated increase to interest expense related to active effective hedges of floating rate debt	$ 3,300,000
Derivative liabilities	2,900,000
Posted collateral related to agreements	0
Designated Hedges
Derivative [Line Items]
Total notional amount	395,100,000	$ 375,400,000
Interest Rate Swap
Derivative [Line Items]
Estimated increase to interest expense related to termination of hedging instrument	$ 2,000,000
Interest Rate Swap | Designated Hedges
Derivative [Line Items]
Number of derivatives | agreement	11	12
Interest Rate Swap Maturing July 2021 | Designated Hedges
Derivative [Line Items]
Number of derivatives | security	1
Total notional amount	$ 52,500,000

Derivatives and Hedging Activ65

Derivatives and Hedging Activities (Reconciliation of Accumulated Other Comprehensive Loss, Net of Amounts Attributable to Noncontrolling Interests) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance as of December 31, 2015	$ 628,805,000
Net current-period other comprehensive income	4,416,000	$ (977,000)	$ 510,000
Beginning balance as of December 31, 2016	516,343,000	628,805,000
Amounts reclassified from accumulated other comprehensive income, tax benefit	0
Change in fair value recognized in OCI, Tax	0
(Losses) and Gains on Cash Flow Hedges, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance as of December 31, 2015	(9,967,000)
Beginning balance as of December 31, 2016	(5,849,000)	(9,967,000)
Unrealized (Losses) and Gains On Available-For-Sale Securities, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance as of December 31, 2015	(1,047,000)
Beginning balance as of December 31, 2016	(1,056,000)	(1,047,000)
Accumulated Other Comprehensive Loss, Parent
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Beginning balance as of December 31, 2015	(11,014,000)
Beginning balance as of December 31, 2016	(6,905,000)	$ (11,014,000)
(Losses) and Gains on Cash Flow Hedges, including noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount of loss reclassified from OCI into interest expense (effective portion) (net of tax benefit of $0)	4,620,000
Change in fair value recognized in OCI (effective portion) (net of tax benefit of $0)	(204,000)
Net current-period other comprehensive income	4,416,000
Accumulated Other Comprehensive Loss, including noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Amount of loss reclassified from OCI into interest expense (effective portion) (net of tax benefit of $0)	4,620,000
Change in fair value recognized in OCI (effective portion) (net of tax benefit of $0)	(204,000)
Net current-period other comprehensive income	4,416,000
(Losses) and Gains on Cash Flow Hedges, Noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Attribution of and other adjustments to OCI attributable to noncontrolling interests	(298,000)
Unrealized (Losses) and Gains On Available-For-Sale Securities, Noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Attribution of and other adjustments to OCI attributable to noncontrolling interests	(9,000)
Accumulated Other Comprehensive Loss, including Noncontrolling interest
AOCI Including Portion Attributable to Noncontrolling Interest, Net of Tax [Roll Forward]
Attribution of and other adjustments to OCI attributable to noncontrolling interests	$ (307,000)

Derivatives and Hedging Activ66

Derivatives and Hedging Activities (Gross Fair Value of Derivative Financial Instruments as Well as Their Classification) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Derivatives, Fair Value [Line Items]
Derivative fair values, net		$ 157
Derivative Liability	$ 2,900
Other Assets
Derivatives, Fair Value [Line Items]
Derivative Asset		41
Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative Liability		3,100
Designated Hedges | Interest Rate Contract | Other Assets
Derivatives, Fair Value [Line Items]
Asset Derivatives, Fair value, Gross asset	2,135	197
Designated Hedges | Interest Rate Contract | Other Liabilities
Derivatives, Fair Value [Line Items]
Derivative instruments	$ 2,777	$ 3,303

Derivatives and Hedging Activ67

Derivatives and Hedging Activities (Effect of Derivative Financial Instruments on Financial Statements) (Details) - Designated Hedges - Interest Rate Contract - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Amount of (loss) gain recognized in OCI (effective portion)	$ 204	$ 5,797	$ 2,370
Interest Expense
Derivative Instruments, Gain (Loss) [Line Items]
Amount of loss reclassified from accumulated OCI into income (effective portion)	(4,620)	(4,820)	(3,091)
Interest and Other Income (Expense)
Derivative Instruments, Gain (Loss) [Line Items]
Amount of gain (loss) recognized in income (ineffective portion and amount excluded from effectiveness testing)	$ 0	$ (3)	$ 1

Fair Value Disclosures (Assets

Fair Value Disclosures (Assets and Liabilities Measured at Fair Value on Recurring Basis) (Details) - Fair Value, Measurements, Recurring - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Assets
Real estate securities	$ 200	$ 200
Derivative instruments	2,135	197
Total assets	2,335	397
Liabilities
Derivative instruments	(2,777)	(3,303)
Total liabilities	(2,777)	(3,303)
Fair Value, Inputs, Level 1
Assets
Derivative instruments	2,135	197
Fair Value, Inputs, Level 2
Assets
Total assets	2,135	197
Liabilities
Derivative instruments	(2,777)	(3,303)
Total liabilities	(2,777)	(3,303)
Fair Value, Inputs, Level 3
Assets
Real estate securities	200
Total assets	$ 200	$ 200

Fair Value of Financial Instr69

Fair Value of Financial Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Carrying Amount, Fair Value Disclosure | Fixed-rate debt related investments, net
Assets:
Fixed-rate debt related investments, net	$ 15,209	$ 15,722
Carrying Amount, Fair Value Disclosure | Fixed-Rate Mortgages
Liabilities:
Fixed-rate mortgage notes carried at amortized cost	290,329	577,978
Carrying Amount, Fair Value Disclosure | Floating-Rate Mortgages
Liabilities:
Floating-rate mortgage notes	51,918	7,886
Carrying Amount, Fair Value Disclosure | Floating-Rate Unsecured Borrowings
Liabilities:
Floating-rate unsecured borrowings	706,554	511,905
Estimated Fair Value, Fair Value Disclosure | Fixed-rate debt related investments, net
Assets:
Fixed-rate debt related investments, net	15,784	16,526
Estimated Fair Value, Fair Value Disclosure | Fixed-Rate Mortgages
Liabilities:
Fixed-rate mortgage notes carried at amortized cost	291,624	576,432
Estimated Fair Value, Fair Value Disclosure | Floating-Rate Mortgages
Liabilities:
Floating-rate mortgage notes	51,942	7,883
Estimated Fair Value, Fair Value Disclosure | Floating-Rate Unsecured Borrowings
Liabilities:
Floating-rate unsecured borrowings	$ 711,000	$ 517,000

Noncontrolling Interests (Narra

Noncontrolling Interests (Narrative) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)propertycomponentclass_of_stock$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014shares	Dec. 23, 2015$ / shares	Aug. 12, 2015$ / shares
Noncontrolling Interest [Line Items]
Number of components in noncontrolling interests | component	2
Number of common stock classes | class_of_stock	4
Number of real estate properties sold | property	2
Class E
Noncontrolling Interest [Line Items]
Shares OP Units redeemed | shares	26,954,000	28,240,000	11,016,000
Shares redeemed | shares	1,800,000	8,400,000
Operating Partnership share price | $ / shares	$ 7.37			$ 7.39	$ 7.25
Class E | Retail Property, Jacksonville, FL Market
Noncontrolling Interest [Line Items]
Operating Partnership units issued | shares	1,000,000
Operating Partnership share price | $ / shares	$ 7.18
Aggregate purchase price | $	$ 7,300,000
Cash payment | $	783,000
Decrease in financial obligation | $	17,900,000
Increase in noncontrolling interests | $	$ 16,200,000
Operating Partnership Units
Noncontrolling Interest [Line Items]
Partnership unit conversion rate to shares of common stock	1
Number of Operating Partnership Units held by the general partner | shares	200
Contribution for OP Units | $	$ 2,000
Percentage of proceeds received contributed to our Operating Partnership	100.00%
Limited partnership interest owned in Operating Partnership	92.59%	92.80%
Operating Partnership Units | Class E
Noncontrolling Interest [Line Items]
Partnership unit conversion rate to shares of common stock	1
Period following issuance, operating units may be redeemed	1 year
Shares redeemed | shares	760,000	360,000
OP Units redemption value maximum | $	$ 5,600,000	$ 2,700,000
Operating Partnership units issued | shares	12,000,000	12,800,000
Operating Partnership units outstanding | shares	12,000,000	12,800,000
Operating Partnership Units | Class E | Maximum
Noncontrolling Interest [Line Items]
OP Units redemption value maximum | $	$ 91,200,000	$ 95,600,000

Noncontrolling Interests (Summa

Noncontrolling Interests (Summary of Noncontrolling Interest Balances) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning Balance				$ 97,146					$ 97,146
Net income (loss)	$ 245	$ 353	$ 18	4,456	$ 46	$ (1,297)	$ 37	$ 8,618	5,072	$ 7,404	$ 4,802
Contributions from noncontrolling interest									3,225	17,337	104
Distributions to noncontrolling interest holders									(9,006)	(4,689)	(9,390)
Ending Balance	91,748				97,146				91,748	97,146
Operating Partnership Units
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning Balance				94,734					94,734
Net income (loss)									3,883
Unrealized change from cash flow hedging derivatives									307
Contributions from noncontrolling interest									0
Distributions to noncontrolling interest holders									(4,661)
Redemption and buyout of noncontrolling interests, net									(4,996)
Ending Balance	89,267				94,734				89,267	94,734
Joint Venture Partner Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning Balance				2,412					2,412
Net income (loss)									1,189
Contributions from noncontrolling interest									3,225
Distributions to noncontrolling interest holders									(4,345)
Ending Balance	2,481				2,412				2,481	2,412
Noncontrolling Interests
Stockholders' Equity Attributable to Noncontrolling Interest [Roll Forward]
Beginning Balance				$ 97,146					97,146
Net income (loss)									5,072
Unrealized change from cash flow hedging derivatives									307
Contributions from noncontrolling interest									3,225	17,337	104
Distributions to noncontrolling interest holders									(9,006)	(4,689)	$ (9,390)
Redemption and buyout of noncontrolling interests, net									(4,996)
Ending Balance	$ 91,748				$ 97,146				$ 91,748	$ 97,146

Stockholders' Equity (Narrative

Stockholders' Equity (Narrative) (Details) $ / shares in Units, shares in Thousands	Dec. 23, 2015USD ($)$ / sharesshares	Aug. 12, 2015USD ($)$ / sharesshares	Dec. 31, 2016USD ($)tender_offer$ / sharesshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	Oct. 23, 2009USD ($)
Stockholders Equity Note Disclosure [Line Items]
Number of self-tender offers | tender_offer			4
Class E
Stockholders Equity Note Disclosure [Line Items]
Common stock, shares authorized value						$ 237,500,000
Shares repurchased through tender offer, shares | shares	2,700	17,200	25,100
Share price | $ / shares	$ 7.39	$ 7.25	$ 7.37
Shares repurchased through tender offer, value	$ 20,100,000	$ 124,400,000	$ 185,300,000
Shares redeemed | shares			1,800	8,400
Value of common stock shares redeemed			$ 13,500,000	$ 61,700,000
Stock redemption additional authorized amount				$ 28,000,000
Class I Shares, Class A Shares, And Class W Shares
Stockholders Equity Note Disclosure [Line Items]
Shares redeemed | shares			1,500	916
Value of common stock shares redeemed			$ 11,200,000	$ 6,800,000
Class I And Class W Shares
Stockholders Equity Note Disclosure [Line Items]
Shares redeemed | shares					650
Value of common stock shares redeemed					$ 4,600,000

Stockholders' Equity (Informati

Stockholders' Equity (Information of Share Transactions) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	164,124,057
Ending balance, shares	150,636,393	164,124,057
Class E
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	137,275,396	163,068,000	171,254,000
Beginning balance, amount	$ 1,482,140	$ 1,670,408	$ 1,728,146
Distribution reinvestment plan, shares	2,004,000	2,447,000	2,830,000
Distribution reinvestment plan	$ 14,859	$ 17,866	$ 19,785
Redemptions of common stock (in shares)	(26,954,000)	(28,240,000)	(11,016,000)
Redemptions of common stock	$ (198,810)	$ (206,134)	$ (77,523)
Ending balance, amount	$ 1,298,189	$ 1,482,140	$ 1,670,408
Ending balance, shares	112,325,127	137,275,396	163,068,000
Class A
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	1,703,109	1,187,000	217,000
Beginning balance, amount	$ 12,438	$ 8,518	$ 1,534
Shares sold, shares	436,000	511,000	955,000
Shares sold	$ 3,337	$ 3,888	$ 6,879
Distribution reinvestment plan, shares	42,000	28,000	15,000
Distribution reinvestment plan	$ 311	$ 203	$ 105
Redemptions of common stock (in shares)	(180,000)	(23,000)	0
Redemptions of common stock	$ (1,328)	$ (171)	$ 0
Ending balance, amount	$ 14,758	$ 12,438	$ 8,518
Ending balance, shares	2,001,359	1,703,109	1,187,000
Class W
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	1,812,277	1,117,000	209,000
Beginning balance, amount	$ 12,952	$ 7,808	$ 1,437
Shares sold, shares	782,000	693,000	900,000
Shares sold	$ 5,799	$ 5,134	$ 6,310
Distribution reinvestment plan, shares	44,000	22,000	10,000
Distribution reinvestment plan	$ 331	$ 158	$ 74
Redemptions of common stock (in shares)	(367,000)	(20,000)	(2,000)
Redemptions of common stock	$ (2,701)	$ (148)	$ (13)
Ending balance, amount	$ 16,381	$ 12,952	$ 7,808
Ending balance, shares	2,271,361	1,812,277	1,117,000
Class I
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	23,334,275	13,028,000	4,327,000
Beginning balance, amount	$ 162,283	$ 90,320	$ 29,507
Shares sold, shares	10,960,000	10,135,000	9,090,000
Shares sold	$ 81,479	$ 73,982	$ 63,705
Distribution reinvestment plan, shares	684,000	426,000	123,000
Distribution reinvestment plan	$ 5,075	$ 3,119	$ 867
Stock-based compensation, shares	32,000	618,000	136,000
Stock-based compensation	$ 1,415	$ 1,295	$ 807
Redemptions of common stock (in shares)	(971,000)	(873,000)	(648,000)
Redemptions of common stock	$ (7,203)	$ (6,433)	$ (4,566)
Ending balance, amount	$ 243,049	$ 162,283	$ 90,320
Ending balance, shares	34,038,546	23,334,275	13,028,000
Common Stock
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance, shares	164,124,000	178,400,000	176,007,000
Beginning balance, amount	$ 1,669,813	$ 1,777,054	$ 1,760,624
Shares sold, shares	12,178,000	11,339,000	10,945,000
Shares sold	$ 90,615	$ 83,004	$ 76,894
Distribution reinvestment plan, shares	2,774,000	2,923,000	2,978,000
Distribution reinvestment plan	$ 20,576	$ 21,346	$ 20,831
Stock-based compensation, shares	32,000	618,000	136,000
Stock-based compensation	$ 1,415	$ 1,295	$ 807
Redemptions of common stock (in shares)	(28,472,000)	(29,156,000)	(11,666,000)
Redemptions of common stock	$ (210,042)	$ (212,886)	$ (82,102)
Ending balance, amount	$ 1,572,377	$ 1,669,813	$ 1,777,054
Ending balance, shares	150,636,000	164,124,000	178,400,000

Stockholders' Equity (Total Dis

Stockholders' Equity (Total Distributions Declared and Portion of Each Contribution Paid in Cash and Reinvested) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]
Paid in cash	$ 36,418	$ 41,723	$ 41,381
Reinvested in shares	20,622	21,177	20,855
Total distributions	$ 57,040	$ 62,900	$ 62,236
Paid in cash	63.80%	66.30%	66.50%
Reinvested in shares	36.20%	33.70%	33.50%
Total	100.00%	100.00%	100.00%

Stockholders' Equity (Distribut

Stockholders' Equity (Distributions Paid and/or Authorized) (Details) - $ / shares	3 Months Ended
	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015
Dividends [Line Items]
Distributions declared per common share		$ 0.0892	$ 0.0892	$ 0.0893	$ 0.0894	$ 0.0894379087533894	$ 0.0895098011053535	$ 0.0896107744282998	$ 0.0896693054852961
Subsequent Event
Dividends [Line Items]
Distributions declared per common share	$ 0.0891056029657037
Class E
Dividends [Line Items]
Distributions declared per common share		0.0900	0.0900	0.0900	0.0900	0.09	0.09	0.09	0.09
Class E | Subsequent Event
Dividends [Line Items]
Distributions declared per common share	0.09
Class A
Dividends [Line Items]
Distributions declared per common share		0.0692	0.0695	0.0699	0.0697	0.069394694520548	0.0694694945205479	0.0699937936986301	0.0705321246575342
Class A | Subsequent Event
Dividends [Line Items]
Distributions declared per common share	0.0691799383561644
Class W
Dividends [Line Items]
Distributions declared per common share		0.0787	0.0788	0.0790	0.0789	0.0787607424657534	0.0788015424657534	0.0790875238356164	0.0793811589041096
Class W | Subsequent Event
Dividends [Line Items]
Distributions declared per common share	0.078643602739726
Class I
Dividends [Line Items]
Distributions declared per common share		$ 0.0881	$ 0.0881	$ 0.0882	$ 0.0882	$ 0.0881267904109589	$ 0.0881335904109589	$ 0.0881812539726027	$ 0.0882301931506849
Class I | Subsequent Event
Dividends [Line Items]
Distributions declared per common share	$ 0.0881072671232877

Stockholders' Equity (Summary o

Stockholders' Equity (Summary of Information Regarding Taxability of Distributions on Common Shares) (Details)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Stockholders' Equity Attributable to Parent [Abstract]
Ordinary income	53.66%	81.01%	63.92%
Non-taxable return of capital	46.34%	18.99%	36.08%
Total	100.00%	100.00%	100.00%

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details)

Sep. 19, 2016

Jun. 23, 2016

May 11, 2016

Feb. 04, 2016$ / sharesshares

Sep. 16, 2015

Jun. 25, 2015shares

Feb. 25, 2015$ / sharesshares

Jun. 25, 2014shares

Mar. 31, 2016USD ($)

Dec. 31, 2016USD ($)employee$ / sharesshares

Dec. 31, 2015USD ($)$ / sharesshares

Dec. 31, 2014USD ($)$ / sharesshares

Dec. 31, 2009USD ($)shares

Dec. 31, 2013shares

Dec. 05, 2013USD ($)

Related Party Transaction [Line Items]

Number of advisor employees serving as directors and officers | employee

2

Advisory Agreement Contract Renewal Term

1 year

Component of Advisory fee as a percent of the overall return

25.00%

Percentage of return not payable to the Advisor

6.00%

Maximum annual Advisory fee performance condition as a percentage of the overall return

10.00%

Class E Dealer Manager fee portion waived under NAV per share threshold | $ / shares

$ 10

Maximum Advisor real property disposition fee as a percentage of the sales price of real property assets

1.00%

Maximum percentage of reasonable customary and commission payable to Advisor upon disposition of a property

50.00%

Fee payable to the Advisor as a percentage of the sales price of real property assets

1.00%

Maximum commissions payable as a percent of the sales price of the property sold

6.00%

Maximum Advisor reimbursement of cumulative organization and offering costs as a percentage of gross proceeds from the Offering

15.00%

Maximum primary dealer fee as percentage of gross proceeds from sale of class I shares

5.00%

Total gross proceeds raised from sale of class I shares

$ 88,206,000

$ 80,609,000

$ 74,916,000

Maximum Dealer Manager and Distribution fees as a percent of gross proceeds from NAV Offering

10.00%

Related party transaction expense

$ 29,808,000

$ 34,544,000

$ 29,575,000

Common stock, shares issued | shares

150,636,393

164,124,057

Private Placement

Related Party Transaction [Line Items]

Lease-back Private Placement Terms

29 years

Class I

Related Party Transaction [Line Items]

Common stock, shares issued | shares

34,038,546

23,334,275

13,028,000

4,327,000

Class I | Restricted Stock

Related Party Transaction [Line Items]

Restricted stock units granted | shares

49,340

49,263

Weighted average grant date fair value for grants in period (usd per share) | $ / shares

$ 7.41

$ 7.18

Vesting period

4 years

Number of shares vested in period | shares

27,458

19,848

11,198

Weighted average value of vested shares (usd per share) | $ / shares

$ 7.39

$ 7.23

$ 6.96

Amount recorded in general and administrative expenses for restricted stock grants

$ 250,000

$ 188,000

$ 125,000

Class A

Related Party Transaction [Line Items]

Common stock, shares issued | shares

2,001,359

1,703,109

1,187,000

217,000

Follow-On Offering

Related Party Transaction [Line Items]

Maximum primary dealer fee as percentage of gross proceeds from sale of class I shares

5.00%

5.00%

Total gross proceeds raised from sale of class I shares

$ 100,000,000

Maximum | Class I | Restricted Stock

Related Party Transaction [Line Items]

Vesting period

4 years

Minimum | Class I | Restricted Stock

Related Party Transaction [Line Items]

Vesting period

3 years

Amended Advisory Agreement

Related Party Transaction [Line Items]

Dealer management fee daily accrual, percentage

0.315%

DST Properties

Related Party Transaction [Line Items]

Percent Of Interests Intended To Sell To Third Parties

100.00%

Management fee upon disposition, percent of gross sale price

1.00%

Management loan fee, percent of financing arranged

1.00%

DST Properties | Private Placement

Related Party Transaction [Line Items]

Private placement, offering expense mark-up, percent of gross equity proceeds

1.50%

Private placement, purchase price mark-up, percent of gross equity proceeds

8.00%

Non-accountable Reimbursement By Investors, Percent Of Gross Equity Proceeds For Real Estate Transaction Costs

1.00%

Operating Partnership DST Program | Private Placement

Related Party Transaction [Line Items]

Total gross proceeds raised from sale of class I shares

$ 2,500,000

$ 183,100,000

Sale of Stock, Number of Shares Issued in Transaction | shares

17,700,000

Follow-On Offering | Common Class A and Class W

Related Party Transaction [Line Items]

Dealer management fee daily accrual, percentage

0.164%

Follow-On Offering | Class I

Related Party Transaction [Line Items]

Dealer management fee daily accrual, percentage

0.274%

Follow-On Offering | Class A

Related Party Transaction [Line Items]

Distribution Fee Daily Accrual, Percentage

0.137%

Director | Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Vesting period

1 year

Director | Class I | Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Board approved amount of annual grant

$ 10,000

Restricted stock units granted | shares

4,116

4,055

Company Advisor | Class I

Related Party Transaction [Line Items]

Advisor agreement termination, notification period

30 days

Advisor agreement termination, transaction close period

60 days

Company Advisor | Class I | Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Restricted stock units granted | shares

842,000

Restricted stock units unvested and unsettled | shares

412,000

Weighted average grant-date NAV | $ / shares

$ 7.18

Common stock, shares issued | shares

38,000

Offset period

12 months

Nonvested awards not yet recognized

$ 3,100,000

Primary Dealer Fee

Related Party Transaction [Line Items]

Total gross proceeds raised from sale of class I shares

69,300,000

Related party transaction expense

3,465,000

$ 2,540,000

$ 2,197,000

Primary Dealer Fee | Maximum

Related Party Transaction [Line Items]

Related party transaction expense

7,500,000

Dealer Manager

Related Party Transaction [Line Items]

Related party transaction expense

381,000

258,000

121,000

Retained Amount To Third Party Brokers

347,000

254,000

220,000

Liabilities to related parties

3,900,000

Dealer Manager | Maximum

Related Party Transaction [Line Items]

Related party transaction expense

150,000,000

Advisory Fees

Related Party Transaction [Line Items]

Related party transaction expense

14,857,000

17,083,000

15,919,000

Advisory Fees | Company Advisor | Class I | Restricted Stock Units (RSUs)

Related Party Transaction [Line Items]

Related party transaction expense

$ 1,100,000

$ 1,100,000

$ 653,000

Common stock, shares issued | shares

153,000

153,000

123,000

Dividend Capital Exchange LLC | Dealer Manager Agreement | Private Placement

Related Party Transaction [Line Items]

Private placement, amount of interests placed with dealer

$ 500,000,000

Private Placement, Commission, Percent Of Gross Equity Proceeds

5.00%

Private placement, dealer fee, percent of gross equity proceeds

1.50%

BCG TRT Advisors LLC

Related Party Transaction [Line Items]

Asset management fee

$ 37,000

$ 24,000

$ 35,000

Related Party Transactions (Sch

Related Party Transactions (Schedule Of RSU Grants) (Details) - Class I - Restricted Stock Units (RSUs) - Company Advisor shares in Thousands	Dec. 31, 2016$ / sharesshares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Shares | shares	412
Grant date NAV per share | $ / shares	$ 7.18
April 7, 2014 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Shares | shares	123
Grant date NAV per share | $ / shares	$ 6.96
February 25, 2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Shares | shares	30
Grant date NAV per share | $ / shares	$ 7.18
February 25, 2015 Grant
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Shares | shares	135
Grant date NAV per share | $ / shares	$ 7.18
February 4, 2016
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of Unvested Shares | shares	124
Grant date NAV per share | $ / shares	$ 7.41

Related Party Transactions (Sum

Related Party Transactions (Summary of Fees and Other Amounts Earned by Advisor and Its Related Parties) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Related party transaction expense	$ 29,808	$ 34,544	$ 29,575
Advisory Fees
Related Party Transaction [Line Items]
Related party transaction expense	14,857	17,083	15,919
Other Reimbursements Paid to our Advisor
Related Party Transaction [Line Items]
Related party transaction expense	8,368	9,008	8,287
Other Reimbursements Paid to our Dealer Manager
Related Party Transaction [Line Items]
Related party transaction expense	396	441	591
Advisory Fees Related to the Disposition Of Real Properties
Related Party Transaction [Line Items]
Related party transaction expense	2,140	4,962	2,064
Development Management Fee
Related Party Transaction [Line Items]
Related party transaction expense	31	88	181
Primary Dealer Fee
Related Party Transaction [Line Items]
Related party transaction expense	3,465	2,540	2,197
Selling Commissions
Related Party Transaction [Line Items]
Related party transaction expense	100	114	187
Dealer Manager
Related Party Transaction [Line Items]
Related party transaction expense	381	258	121
Reallowed amount to third-party brokers	3,100	2,300	2,000
Retained Amount To Third Party Brokers	347	254	220
Distribution Fees
Related Party Transaction [Line Items]
Related party transaction expense	70	50	28
Advisor Fees, Reimbursements For Portion Of Compensation Costs
Related Party Transaction [Line Items]
Related party transaction expense	6,800	7,300	6,900
Maximum | Primary Dealer Fee
Related Party Transaction [Line Items]
Related party transaction expense	7,500
Maximum | Dealer Manager
Related Party Transaction [Line Items]
Related party transaction expense	150,000
Company Advisor | Restricted Stock Units (RSUs) | Class I | Advisory Fees
Related Party Transaction [Line Items]
Related party transaction expense	$ 1,100	$ 1,100	$ 653

Net Income Per Common Share (De

Net Income Per Common Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Numerator
Income (loss) from continuing operations										$ 55,048	$ 131,659	$ 3,990
(Income) loss from continuing operations attributable to noncontrolling interests										(5,072)	(7,404)	(340)
Income (loss) from continuing operations attributable to common stockholders										49,976	124,255	3,650
Dilutive noncontrolling interests share of income (loss) from continuing operations										3,883	8,632	233
Numerator for diluted earnings per share - adjusted income (loss) from continuing operations										53,859	132,887	3,883
Income from discontinued operations	[1]									0	0	30,004
Income from discontinued operations attributable to noncontrolling interests										0	0	(4,462)
Income from discontinued operations attributable to common stockholders										0	0	25,542
Dilutive noncontrolling interests share of discontinued operations										0	0	1,915
Numerator for diluted earnings per share - adjusted income from discontinued operations										$ 0	$ 0	$ 27,457
Denominator
Weighted average shares outstanding-basic (in shares)										159,648	175,938	178,273
Incremental weighted average shares effect of conversion of OP Units										12,398	12,851	12,718
Weighted average shares outstanding-diluted (in shares)										172,046	188,789	190,991
INCOME (LOSS) PER COMMON SHARE-BASIC AND DILUTED
Net income (loss) from continuing operations (usd per share)										$ 0.31	$ 0.70	$ 0.02
Net income from discontinued operations (usd per share)										0	0	0.14
NET INCOME PER BASIC AND DILUTED COMMON SHARE (usd per share)		$ 0.02	$ 0.02	$ 0	$ 0.27	$ 0.01	$ 0	$ 0	$ 0.69	$ 0.31	$ 0.70	$ 0.16
[1]	Includes approximately $1.6 million paid to our Advisor for fees associated with the disposition of real properties during the year ended December 31, 2014.

Segment Information (Revenue an

Segment Information (Revenue and Components of Net Operating Income) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)segment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments | segment									3
Rental revenue	$ 53,723	$ 53,258	$ 52,702	$ 55,544	$ 54,970	$ 52,854	$ 51,075	$ 59,379	$ 215,227	$ 218,278	$ 224,201
NOI									149,640	158,688	173,204
Office Segment
Segment Reporting Information [Line Items]
Rental revenue									126,782	137,204	139,245
NOI									84,300	97,441	104,533
Industrial Segment
Segment Reporting Information [Line Items]
Rental revenue									6,073	8,672	23,307
NOI									4,323	6,755	20,780
Retail Segment
Segment Reporting Information [Line Items]
Rental revenue									82,372	72,402	61,649
NOI									$ 61,017	$ 54,492	$ 47,891

Segment Information (Reconcilia

Segment Information (Reconciliation of Net Operating Income to Reported Net Income) (Details) - USD ($) $ in Thousands		3 Months Ended								12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Reconciliation of net operating income attributable to common shareholders
Net income attributable to common stockholders		$ 3,112	$ 2,965	$ 117	$ 43,782	$ 730	$ (128)	$ 70	$ 123,583	$ 49,976	$ 124,255	$ 29,192
Debt-related income		(233)	(235)	(237)	(238)	(1,328)	(807)	(1,584)	(3,203)	(943)	(6,922)	(7,396)
Real estate depreciation and amortization expense										(80,105)	(83,114)	(88,994)
General and administrative expenses	[1]									(9,450)	(10,720)	(11,108)
Advisory fees, related party										14,857	17,083	15,919
Acquisition-related expenses										(667)	(2,644)	(1,205)
Impairment of real estate property	[2]									2,677	8,124	9,500
Interest and other income (expense)										(2,207)	(2,192)	(1,168)
Interest expense										(40,782)	(47,508)	(61,903)
Loss on extinguishment of debt and financing commitments										(5,136)	1,168	63
Gain on sale of real property	[3]									(45,660)	(134,218)	(10,914)
Discontinued operations	[4]									0	0	(30,004)
Net income attributable to noncontrolling interests		$ 245	$ 353	$ 18	$ 4,456	$ 46	$ (1,297)	$ 37	$ 8,618	5,072	7,404	4,802
Net operating income										$ 149,640	$ 158,688	$ 173,204
[1]	Includes approximately $6.4 million, $7.1 million and $6.8 million incurred by our Advisor and its affiliates for reimbursable expenses during the years ended December 31, 2016, 2015, and 2014, respectively.
[2]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.
[3]	Includes approximately $1.9 million, $4.8 million, and $419,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016, 2015 and 2014, respectively.
[4]	Includes approximately $1.6 million paid to our Advisor for fees associated with the disposition of real properties during the year ended December 31, 2014.

Segment Information (Schedule o

Segment Information (Schedule of Total Assets by Business Segment) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment assets:
Net investments in real property	$ 1,711,411	$ 1,874,217
Non-segment assets:
Debt-related investments, net	15,209	15,722	$ 94,951
Cash and cash equivalents	13,864	15,769	$ 14,461	$ 24,778
Total Assets	1,783,728	1,960,891
Non-Segments
Non-segment assets:
Debt-related investments, net	15,209	15,722
Cash and cash equivalents	13,864	15,769
Other non-segment assets	43,244	55,183
Office Segment | Operating Segments
Segment assets:
Net investments in real property	825,961	1,027,132
Industrial Segment | Operating Segments
Segment assets:
Net investments in real property	57,651	61,231
Retail Segment | Operating Segments
Segment assets:
Net investments in real property	$ 827,799	$ 785,854

Income Taxes (Details)

Income Taxes (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Income Tax Contingency [Line Items]
Percentage of REIT taxable income distributed annually	100.00%
Gross deferred tax assets	$ 4.4	$ 4.4
Earliest Tax Year
Income Tax Contingency [Line Items]
Tax years open to examination	2,013
Latest Tax Year
Income Tax Contingency [Line Items]
Tax years open to examination	2,016
Minimum
Income Tax Contingency [Line Items]
Percentage of REIT taxable income distributed annually	90.00%

Quarterly Financial Data (Una85

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Rental revenue	$ 53,723	$ 53,258	$ 52,702	$ 55,544	$ 54,970	$ 52,854	$ 51,075	$ 59,379	$ 215,227	$ 218,278	$ 224,201
Debt-related income	233	235	237	238	1,328	807	1,584	3,203	943	6,922	7,396
Total Revenue	53,956	53,493	52,939	55,782	56,298	53,661	52,659	62,582	216,170	225,200	231,597
Total operating expenses	(43,286)	(44,567)	(42,313)	(43,177)	(45,898)	(49,406)	(41,168)	(44,803)	(173,343)	(181,275)	(177,723)
Other income (expenses)	(7,313)	(5,608)	(10,491)	35,633	(9,624)	(5,680)	(11,384)	114,422	12,221	87,734
Net income	3,357	3,318	135	48,238	776	(1,425)	107	132,201	55,048	131,659	33,994
Net (income) loss attributable to noncontrolling interests	(245)	(353)	(18)	(4,456)	(46)	1,297	(37)	(8,618)	(5,072)	(7,404)	(4,802)
NET INCOME ATTRIBUTABLE TO COMMON STOCKHOLDERS	$ 3,112	$ 2,965	$ 117	$ 43,782	$ 730	$ (128)	$ 70	$ 123,583	$ 49,976	$ 124,255	$ 29,192
NET INCOME (LOSS) PER BASIC AND DILUTED COMMON SHARE (usd per share)	$ 0.02	$ 0.02	$ 0	$ 0.27	$ 0.01	$ 0	$ 0	$ 0.69	$ 0.31	$ 0.70	$ 0.16

Subsequent Events (Narrative) (

Subsequent Events (Narrative) (Details) $ in Thousands	Jan. 10, 2017USD ($)propertyextension	Dec. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Jan. 31, 2017USD ($)	Jan. 09, 2017USD ($)
Subsequent Event [Line Items]
Principal Balance		$ 1,054,470	$ 1,105,849
Mortgage note proceeds		84,045	$ 70,626	$ 0
Mortgages
Subsequent Event [Line Items]
Principal Balance		85,500
Amount repaid on mortgage note		$ 326,167
Interest rate bearing on mortgage note		2.51%
Subsequent Event | Sybase, Inc.
Subsequent Event [Line Items]
Amount of lease terminated					$ 18,700
Percentage of terminated lease to total base rent					11.00%
Subsequent Event | Mortgages | Mortgage Note, 3 Second Street
Subsequent Event [Line Items]
Principal Balance	$ 146,600
Mortgage note proceeds	$ 127,000
Length of extension option (years)	1 year
Interest rate bearing on mortgage note	5.51%
Subsequent Event | Mortgages | Mortgage Note, 3 Second Street | Minimum
Subsequent Event [Line Items]
Number of one year extensions | extension	2
Prepayment premium, percentage	0.00%
Subsequent Event | Mortgages | Mortgage Note, 3 Second Street | Maximum
Subsequent Event [Line Items]
Prepayment premium, percentage	2.25%
Subsequent Event | Mortgages | Mortgage Note, 3 Second Street | LIBOR | Minimum
Subsequent Event [Line Items]
Outstanding borrowings interest rate spread over LIBOR	2.00%
Subsequent Event | Mortgages | Mortgage Note, 3 Second Street | LIBOR | Maximum
Subsequent Event [Line Items]
Outstanding borrowings interest rate spread over LIBOR	2.25%
Subsequent Event | Mortgages | Mortgage Note, Eastern Retail Portfolio
Subsequent Event [Line Items]
Amount repaid on mortgage note	$ 110,000
Number of properties securing mortgage note | property	3
Subsequent Event | Interest rate cap
Subsequent Event [Line Items]
Total notional amount						$ 146,600
Derivative, Cap Interest Rate						3.00%

Schedule III - Real Estate an87

Schedule III - Real Estate and Accumulated Depreciation (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Number of Buildings | property	83
Encumbrances	$ 343,470
Initial Cost to Company, Land	481,546
Initial Cost to Company, Building & Improvements	1,638,380
Initial Cost to Company, Total	2,119,926
Cost Capitalized or Adjustments Subsequent to Acquisition	84,396
Gross Amount Carried, Land	473,970
Gross Amount Carried, Building and Improvements	1,730,352
Real Estate, Gross, Total Cost	2,204,322	$ 2,380,174	$ 2,472,926	$ 2,570,480
Accumulated Depreciation	492,911	$ 505,957	$ 523,246	$ 502,847
Aggregate cost of investments in real property for federal income tax purposes	$ 1,700,000
Office
Real Estate and Accumulated Depreciation [Line Items]
Number of Buildings | property	23
Encumbrances	$ 85,500
Initial Cost to Company, Land	178,870
Initial Cost to Company, Building & Improvements	868,714
Initial Cost to Company, Total	1,047,584
Cost Capitalized or Adjustments Subsequent to Acquisition	61,594
Gross Amount Carried, Land	171,176
Gross Amount Carried, Building and Improvements	938,002
Real Estate, Gross, Total Cost	1,109,178
Accumulated Depreciation	$ 283,216
Office | Real Estate Property One
Real Estate and Accumulated Depreciation [Line Items]
Market	Silicon Valley, CA
Number of Buildings | property	3
Encumbrances	$ 0
Initial Cost to Company, Land	13,859
Initial Cost to Company, Building & Improvements	21,974
Initial Cost to Company, Total	35,833
Cost Capitalized or Adjustments Subsequent to Acquisition	6,852
Gross Amount Carried, Land	13,859
Gross Amount Carried, Building and Improvements	28,826
Real Estate, Gross, Total Cost	42,685
Accumulated Depreciation	$ 10,779
Acquisition Date	Jun. 28, 2006
Office | Real Estate Property Two
Real Estate and Accumulated Depreciation [Line Items]
Market	Philadelphia, PA
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	10,115
Initial Cost to Company, Building & Improvements	27,516
Initial Cost to Company, Total	37,631
Cost Capitalized or Adjustments Subsequent to Acquisition	9,277
Gross Amount Carried, Land	10,115
Gross Amount Carried, Building and Improvements	36,793
Real Estate, Gross, Total Cost	46,908
Accumulated Depreciation	$ 13,869
Acquisition Date	Aug. 28, 2006
Office | Real Estate Property Three
Real Estate and Accumulated Depreciation [Line Items]
Market	Washington, DC
Number of Buildings | property	1
Encumbrances	$ 52,500
Initial Cost to Company, Land	25,177
Initial Cost to Company, Building & Improvements	41,250
Initial Cost to Company, Total	66,427
Cost Capitalized or Adjustments Subsequent to Acquisition	4,058
Gross Amount Carried, Land	25,177
Gross Amount Carried, Building and Improvements	45,308
Real Estate, Gross, Total Cost	70,485
Accumulated Depreciation	$ 20,999
Acquisition Date	Mar. 10, 2009
Office | Real Estate Property Four
Real Estate and Accumulated Depreciation [Line Items]
Market	San Francisco, CA
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	40,327
Initial Cost to Company, Building & Improvements	73,961
Initial Cost to Company, Total	114,288
Cost Capitalized or Adjustments Subsequent to Acquisition	7,538
Gross Amount Carried, Land	32,632
Gross Amount Carried, Building and Improvements	89,194
Real Estate, Gross, Total Cost	121,826
Accumulated Depreciation	$ 17,567
Acquisition Date	Nov. 7, 2013
Office | Real Estate Property Five
Real Estate and Accumulated Depreciation [Line Items]
Market	Denver, CO
Number of Buildings | property	2
Initial Cost to Company, Land	$ 15,713
Initial Cost to Company, Building & Improvements	65,252
Initial Cost to Company, Total	80,965
Cost Capitalized or Adjustments Subsequent to Acquisition	2,195
Gross Amount Carried, Land	15,713
Gross Amount Carried, Building and Improvements	67,447
Real Estate, Gross, Total Cost	83,160
Accumulated Depreciation	$ 9,537
Acquisition Date	Aug. 22, 2014
Office | Real Estate Property Six
Real Estate and Accumulated Depreciation [Line Items]
Market	Austin, TX
Number of Buildings | property	2
Initial Cost to Company, Land	$ 5,094
Initial Cost to Company, Building & Improvements	32,652
Initial Cost to Company, Total	37,746
Cost Capitalized or Adjustments Subsequent to Acquisition	692
Gross Amount Carried, Land	5,094
Gross Amount Carried, Building and Improvements	33,344
Real Estate, Gross, Total Cost	38,438
Accumulated Depreciation	$ 4,420
Acquisition Date	Jan. 15, 2015
Office | Real Estate Property Seven
Real Estate and Accumulated Depreciation [Line Items]
Market	Austin, TX
Number of Buildings | property	2
Initial Cost to Company, Land	$ 4,606
Initial Cost to Company, Building & Improvements	65,250
Initial Cost to Company, Total	69,856
Cost Capitalized or Adjustments Subsequent to Acquisition	1,994
Gross Amount Carried, Land	4,606
Gross Amount Carried, Building and Improvements	67,244
Real Estate, Gross, Total Cost	71,850
Accumulated Depreciation	$ 6,063
Acquisition Date	Apr. 24, 2015
Office | Real Estate Property Eight
Real Estate and Accumulated Depreciation [Line Items]
Market	Fayetteville, AR
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	2,699
Initial Cost to Company, Building & Improvements	8,996
Initial Cost to Company, Total	11,695
Cost Capitalized or Adjustments Subsequent to Acquisition	(1)
Gross Amount Carried, Land	2,699
Gross Amount Carried, Building and Improvements	8,995
Real Estate, Gross, Total Cost	11,694
Accumulated Depreciation	$ 3,239
Acquisition Date	Sep. 28, 2007
Office | Real Estate Property Nine
Real Estate and Accumulated Depreciation [Line Items]
Market	Minneapolis/St Paul, MN
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,538
Initial Cost to Company, Building & Improvements	25,865
Initial Cost to Company, Total	29,403
Cost Capitalized or Adjustments Subsequent to Acquisition	112
Gross Amount Carried, Land	3,538
Gross Amount Carried, Building and Improvements	25,977
Real Estate, Gross, Total Cost	29,515
Accumulated Depreciation	$ 7,732
Acquisition Date	Oct. 3, 2008
Office | Real Estate Property Ten
Real Estate and Accumulated Depreciation [Line Items]
Market	Austin, TX
Number of Buildings | property	1
Initial Cost to Company, Land	$ 2,663
Initial Cost to Company, Building & Improvements	42,315
Initial Cost to Company, Total	44,978
Cost Capitalized or Adjustments Subsequent to Acquisition	5
Gross Amount Carried, Land	2,663
Gross Amount Carried, Building and Improvements	42,320
Real Estate, Gross, Total Cost	44,983
Accumulated Depreciation	$ 12,973
Acquisition Date	Dec. 23, 2008
Office | Real Estate Property Eleven
Real Estate and Accumulated Depreciation [Line Items]
Market	Princeton, NJ
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	5,302
Initial Cost to Company, Building & Improvements	45,773
Initial Cost to Company, Total	51,075
Cost Capitalized or Adjustments Subsequent to Acquisition	249
Gross Amount Carried, Land	5,302
Gross Amount Carried, Building and Improvements	46,022
Real Estate, Gross, Total Cost	51,324
Accumulated Depreciation	$ 13,237
Acquisition Date	Nov. 3, 2009
Office | Real Estate Property Twelve
Real Estate and Accumulated Depreciation [Line Items]
Market	Dallas, TX
Number of Buildings | property	1
Encumbrances	$ 33,000
Initial Cost to Company, Land	7,500
Initial Cost to Company, Building & Improvements	22,303
Initial Cost to Company, Total	29,803
Cost Capitalized or Adjustments Subsequent to Acquisition	7,960
Gross Amount Carried, Land	7,500
Gross Amount Carried, Building and Improvements	30,263
Real Estate, Gross, Total Cost	37,763
Accumulated Depreciation	$ 11,521
Acquisition Date	Dec. 16, 2009
Office | Real Estate Property Thirteen
Real Estate and Accumulated Depreciation [Line Items]
Market	Northern New Jersey
Number of Buildings | property	1
Initial Cost to Company, Land	$ 16,800
Initial Cost to Company, Building & Improvements	193,742
Initial Cost to Company, Total	210,542
Cost Capitalized or Adjustments Subsequent to Acquisition	20,487
Gross Amount Carried, Land	16,800
Gross Amount Carried, Building and Improvements	214,229
Real Estate, Gross, Total Cost	231,029
Accumulated Depreciation	$ 79,502
Acquisition Date	Jun. 25, 2010
Office | Real Estate Property Fourteen
Real Estate and Accumulated Depreciation [Line Items]
Market	East Bay, CA
Number of Buildings | property	1
Initial Cost to Company, Land	$ 8,400
Initial Cost to Company, Building & Improvements	136,797
Initial Cost to Company, Total	145,197
Cost Capitalized or Adjustments Subsequent to Acquisition	179
Gross Amount Carried, Land	8,400
Gross Amount Carried, Building and Improvements	136,976
Real Estate, Gross, Total Cost	145,376
Accumulated Depreciation	$ 64,638
Acquisition Date	Jun. 25, 2010
Office | Real Estate Property Fifteen
Real Estate and Accumulated Depreciation [Line Items]
Market	South Florida
Number of Buildings | property	3
Encumbrances	$ 0
Initial Cost to Company, Land	12,047
Initial Cost to Company, Building & Improvements	34,151
Initial Cost to Company, Total	46,198
Cost Capitalized or Adjustments Subsequent to Acquisition	611
Gross Amount Carried, Land	12,048
Gross Amount Carried, Building and Improvements	34,761
Real Estate, Gross, Total Cost	46,809
Accumulated Depreciation	$ 4,862
Acquisition Date	Aug. 6, 2015
Office | Real Estate Property Sixteen
Real Estate and Accumulated Depreciation [Line Items]
Market	South Florida
Number of Buildings | property	1
Initial Cost to Company, Land	$ 5,030
Initial Cost to Company, Building & Improvements	30,917
Initial Cost to Company, Total	35,947
Cost Capitalized or Adjustments Subsequent to Acquisition	(614)
Gross Amount Carried, Land	5,030
Gross Amount Carried, Building and Improvements	30,303
Real Estate, Gross, Total Cost	35,333
Accumulated Depreciation	$ 2,278
Acquisition Date	Dec. 11, 2015
Office | Minimum | Real Estate Property One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	2 years
Office | Minimum | Real Estate Property Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	10 years
Office | Minimum | Real Estate Property Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	5 years
Office | Minimum | Real Estate Property Ten
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	11 years
Office | Minimum | Real Estate Property Eleven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	5 years
Office | Minimum | Real Estate Property Twelve
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Thirteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	3 years
Office | Minimum | Real Estate Property Fourteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	7 years
Office | Minimum | Real Estate Property Fifteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Minimum | Real Estate Property Sixteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Office | Maximum | Real Estate Property One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Ten
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Eleven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Twelve
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Thirteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Fourteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Fifteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Office | Maximum | Real Estate Property Sixteen
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Industrial Property
Real Estate and Accumulated Depreciation [Line Items]
Number of Buildings | property	7,000
Encumbrances	$ 0
Initial Cost to Company, Land	8,818
Initial Cost to Company, Building & Improvements	72,581
Initial Cost to Company, Total	81,399
Cost Capitalized or Adjustments Subsequent to Acquisition	7,729
Gross Amount Carried, Land	8,821
Gross Amount Carried, Building and Improvements	80,307
Real Estate, Gross, Total Cost	89,128
Accumulated Depreciation	$ 31,476
Industrial Property | Real Estate Property Twenty One
Real Estate and Accumulated Depreciation [Line Items]
Market	Dallas, TX
Number of Buildings | property	3,000
Encumbrances	$ 0
Initial Cost to Company, Land	5,162
Initial Cost to Company, Building & Improvements	30,192
Initial Cost to Company, Total	35,354
Cost Capitalized or Adjustments Subsequent to Acquisition	574
Gross Amount Carried, Land	5,165
Gross Amount Carried, Building and Improvements	30,763
Real Estate, Gross, Total Cost	35,928
Accumulated Depreciation	$ 12,174
Acquisition Date	Dec. 21, 2006
Industrial Property | Real Estate Property Twenty Two
Real Estate and Accumulated Depreciation [Line Items]
Market	Louisville, KY
Number of Buildings | property	1,000
Initial Cost to Company, Land	$ 1,124
Initial Cost to Company, Building & Improvements	6,821
Initial Cost to Company, Total	7,945
Cost Capitalized or Adjustments Subsequent to Acquisition	1,162
Gross Amount Carried, Land	1,124
Gross Amount Carried, Building and Improvements	7,983
Real Estate, Gross, Total Cost	9,107
Accumulated Depreciation	$ 2,853
Acquisition Date	Sep. 17, 2008
Industrial Property | Real Estate Property Twenty Three
Real Estate and Accumulated Depreciation [Line Items]
Market	Louisville, KY
Number of Buildings | property	1,000
Initial Cost to Company, Land	$ 672
Initial Cost to Company, Building & Improvements	3,862
Initial Cost to Company, Total	4,534
Cost Capitalized or Adjustments Subsequent to Acquisition	259
Gross Amount Carried, Land	672
Gross Amount Carried, Building and Improvements	4,121
Real Estate, Gross, Total Cost	4,793
Accumulated Depreciation	$ 1,718
Acquisition Date	Sep. 17, 2008
Industrial Property | Real Estate Property Twenty Four
Real Estate and Accumulated Depreciation [Line Items]
Market	Louisville, KY
Number of Buildings | property	1,000
Initial Cost to Company, Land	$ 1,130
Initial Cost to Company, Building & Improvements	6,614
Initial Cost to Company, Total	7,744
Cost Capitalized or Adjustments Subsequent to Acquisition	716
Gross Amount Carried, Land	1,130
Gross Amount Carried, Building and Improvements	7,330
Real Estate, Gross, Total Cost	8,460
Accumulated Depreciation	$ 2,659
Acquisition Date	Sep. 17, 2008
Industrial Property | Real Estate Property Twenty Five
Real Estate and Accumulated Depreciation [Line Items]
Market	Central Kentucky
Number of Buildings | property	1,000
Initial Cost to Company, Land	$ 730
Initial Cost to Company, Building & Improvements	25,092
Initial Cost to Company, Total	25,822
Cost Capitalized or Adjustments Subsequent to Acquisition	5,018
Gross Amount Carried, Land	730
Gross Amount Carried, Building and Improvements	30,110
Real Estate, Gross, Total Cost	30,840
Accumulated Depreciation	$ 12,072
Acquisition Date	Jun. 25, 2010
Industrial Property | Minimum | Real Estate Property Twenty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	6 years
Industrial Property | Minimum | Real Estate Property Twenty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Industrial Property | Minimum | Real Estate Property Twenty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	5 years
Industrial Property | Minimum | Real Estate Property Twenty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	3 years
Industrial Property | Minimum | Real Estate Property Twenty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	4 years
Industrial Property | Maximum | Real Estate Property Twenty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Industrial Property | Maximum | Real Estate Property Twenty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Industrial Property | Maximum | Real Estate Property Twenty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Industrial Property | Maximum | Real Estate Property Twenty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Industrial Property | Maximum | Real Estate Property Twenty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail
Real Estate and Accumulated Depreciation [Line Items]
Number of Buildings | property	53
Encumbrances	$ 257,970
Initial Cost to Company, Land	293,858
Initial Cost to Company, Building & Improvements	697,085
Initial Cost to Company, Total	990,943
Cost Capitalized or Adjustments Subsequent to Acquisition	15,073
Gross Amount Carried, Land	293,973
Gross Amount Carried, Building and Improvements	712,043
Real Estate, Gross, Total Cost	1,006,016
Accumulated Depreciation	$ 178,219
Retail | Real Estate Property Twenty Seven
Real Estate and Accumulated Depreciation [Line Items]
Market	San Antonio, TX
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	8,221
Initial Cost to Company, Building & Improvements	23,472
Initial Cost to Company, Total	31,693
Cost Capitalized or Adjustments Subsequent to Acquisition	379
Gross Amount Carried, Land	8,221
Gross Amount Carried, Building and Improvements	23,851
Real Estate, Gross, Total Cost	32,072
Accumulated Depreciation	$ 8,060
Acquisition Date	Feb. 1, 2007
Retail | Real Estate Property Twenty Eight
Real Estate and Accumulated Depreciation [Line Items]
Market	Raleigh, NC
Number of Buildings | property	1
Encumbrances	$ 26,200
Initial Cost to Company, Land	13,017
Initial Cost to Company, Building & Improvements	31,375
Initial Cost to Company, Total	44,392
Cost Capitalized or Adjustments Subsequent to Acquisition	1,322
Gross Amount Carried, Land	13,017
Gross Amount Carried, Building and Improvements	32,697
Real Estate, Gross, Total Cost	45,714
Accumulated Depreciation	$ 10,258
Acquisition Date	May 11, 2007
Retail | Real Estate Property Twenty Nine
Real Estate and Accumulated Depreciation [Line Items]
Market	Philadelphia, PA
Number of Buildings | property	1
Encumbrances	$ 67,800
Initial Cost to Company, Land	26,488
Initial Cost to Company, Building & Improvements	76,838
Initial Cost to Company, Total	103,326
Cost Capitalized or Adjustments Subsequent to Acquisition	1,982
Gross Amount Carried, Land	26,488
Gross Amount Carried, Building and Improvements	78,820
Real Estate, Gross, Total Cost	105,308
Accumulated Depreciation	$ 26,424
Acquisition Date	May 11, 2007
Retail | Real Estate Property Thirty
Real Estate and Accumulated Depreciation [Line Items]
Market	Jacksonville, FL
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,768
Initial Cost to Company, Building & Improvements	16,660
Initial Cost to Company, Total	20,428
Cost Capitalized or Adjustments Subsequent to Acquisition	(871)
Gross Amount Carried, Land	3,768
Gross Amount Carried, Building and Improvements	15,789
Real Estate, Gross, Total Cost	19,557
Accumulated Depreciation	$ 4,387
Acquisition Date	Jun. 27, 2007
Retail | Real Estate Property Thirty One
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 9,270
Initial Cost to Company, Building & Improvements	31,266
Initial Cost to Company, Total	40,536
Cost Capitalized or Adjustments Subsequent to Acquisition	878
Gross Amount Carried, Land	9,270
Gross Amount Carried, Building and Improvements	32,144
Real Estate, Gross, Total Cost	41,414
Accumulated Depreciation	$ 10,532
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Two
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,828
Initial Cost to Company, Building & Improvements	10,073
Initial Cost to Company, Total	13,901
Cost Capitalized or Adjustments Subsequent to Acquisition	487
Gross Amount Carried, Land	3,828
Gross Amount Carried, Building and Improvements	10,560
Real Estate, Gross, Total Cost	14,388
Accumulated Depreciation	$ 4,339
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Three
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 10,574
Initial Cost to Company, Land	8,580
Initial Cost to Company, Building & Improvements	12,494
Initial Cost to Company, Total	21,074
Cost Capitalized or Adjustments Subsequent to Acquisition	2,345
Gross Amount Carried, Land	8,580
Gross Amount Carried, Building and Improvements	14,839
Real Estate, Gross, Total Cost	23,419
Accumulated Depreciation	$ 5,180
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Four
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 1,890
Initial Cost to Company, Building & Improvements	6,480
Initial Cost to Company, Total	8,370
Cost Capitalized or Adjustments Subsequent to Acquisition	379
Gross Amount Carried, Land	1,890
Gross Amount Carried, Building and Improvements	6,859
Real Estate, Gross, Total Cost	8,749
Accumulated Depreciation	$ 2,420
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Five
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 8,780
Initial Cost to Company, Building & Improvements	23,683
Initial Cost to Company, Total	32,463
Cost Capitalized or Adjustments Subsequent to Acquisition	362
Gross Amount Carried, Land	8,780
Gross Amount Carried, Building and Improvements	24,045
Real Estate, Gross, Total Cost	32,825
Accumulated Depreciation	$ 7,735
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Six
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 15,825
Initial Cost to Company, Land	7,380
Initial Cost to Company, Building & Improvements	25,778
Initial Cost to Company, Total	33,158
Cost Capitalized or Adjustments Subsequent to Acquisition	693
Gross Amount Carried, Land	7,380
Gross Amount Carried, Building and Improvements	26,471
Real Estate, Gross, Total Cost	33,851
Accumulated Depreciation	$ 7,941
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Seven
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 24,400
Initial Cost to Company, Land	13,130
Initial Cost to Company, Building & Improvements	27,030
Initial Cost to Company, Total	40,160
Cost Capitalized or Adjustments Subsequent to Acquisition	2,205
Gross Amount Carried, Land	13,130
Gross Amount Carried, Building and Improvements	29,235
Real Estate, Gross, Total Cost	42,365
Accumulated Depreciation	$ 9,584
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Eight
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 14,396
Initial Cost to Company, Building & Improvements	594
Initial Cost to Company, Total	14,990
Gross Amount Carried, Land	14,396
Gross Amount Carried, Building and Improvements	594
Real Estate, Gross, Total Cost	14,990
Accumulated Depreciation	$ 594
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Thirty Nine
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 10,405
Initial Cost to Company, Building & Improvements	917
Initial Cost to Company, Total	11,322
Gross Amount Carried, Land	10,405
Gross Amount Carried, Building and Improvements	917
Real Estate, Gross, Total Cost	11,322
Accumulated Depreciation	$ 469
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 5,340
Initial Cost to Company, Building & Improvements	16,490
Initial Cost to Company, Total	21,830
Gross Amount Carried, Land	5,340
Gross Amount Carried, Building and Improvements	16,490
Real Estate, Gross, Total Cost	21,830
Accumulated Depreciation	$ 4,764
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty One
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 6,560
Initial Cost to Company, Building & Improvements	22,014
Initial Cost to Company, Total	28,574
Cost Capitalized or Adjustments Subsequent to Acquisition	(1)
Gross Amount Carried, Land	6,559
Gross Amount Carried, Building and Improvements	22,014
Real Estate, Gross, Total Cost	28,573
Accumulated Depreciation	$ 6,705
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Two
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	2
Encumbrances	$ 16,000
Initial Cost to Company, Land	5,170
Initial Cost to Company, Building & Improvements	19,396
Initial Cost to Company, Total	24,566
Cost Capitalized or Adjustments Subsequent to Acquisition	(251)
Gross Amount Carried, Land	4,913
Gross Amount Carried, Building and Improvements	19,402
Real Estate, Gross, Total Cost	24,315
Accumulated Depreciation	$ 6,248
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Three
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,610
Initial Cost to Company, Building & Improvements	11,682
Initial Cost to Company, Total	15,292
Gross Amount Carried, Land	3,610
Gross Amount Carried, Building and Improvements	11,682
Real Estate, Gross, Total Cost	15,292
Accumulated Depreciation	$ 3,489
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Four
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 2,530
Initial Cost to Company, Building & Improvements	2,074
Initial Cost to Company, Total	4,604
Cost Capitalized or Adjustments Subsequent to Acquisition	1,016
Gross Amount Carried, Land	2,530
Gross Amount Carried, Building and Improvements	3,090
Real Estate, Gross, Total Cost	5,620
Accumulated Depreciation	$ 1,268
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Five
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,920
Initial Cost to Company, Building & Improvements	7,765
Initial Cost to Company, Total	11,685
Cost Capitalized or Adjustments Subsequent to Acquisition	1,068
Gross Amount Carried, Land	3,920
Gross Amount Carried, Building and Improvements	8,833
Real Estate, Gross, Total Cost	12,753
Accumulated Depreciation	$ 2,860
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Six
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 1,490
Initial Cost to Company, Building & Improvements	5,084
Initial Cost to Company, Total	6,574
Cost Capitalized or Adjustments Subsequent to Acquisition	905
Gross Amount Carried, Land	1,490
Gross Amount Carried, Building and Improvements	5,989
Real Estate, Gross, Total Cost	7,479
Accumulated Depreciation	$ 1,917
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Seven
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,650
Initial Cost to Company, Building & Improvements	6,507
Initial Cost to Company, Total	10,157
Cost Capitalized or Adjustments Subsequent to Acquisition	273
Gross Amount Carried, Land	3,650
Gross Amount Carried, Building and Improvements	6,780
Real Estate, Gross, Total Cost	10,430
Accumulated Depreciation	$ 2,503
Acquisition Date	Aug. 1, 2007
Retail | Real Estate Property Forty Eight
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 5,035
Initial Cost to Company, Land	5,290
Initial Cost to Company, Building & Improvements	8,814
Initial Cost to Company, Total	14,104
Cost Capitalized or Adjustments Subsequent to Acquisition	0
Gross Amount Carried, Land	5,290
Gross Amount Carried, Building and Improvements	8,814
Real Estate, Gross, Total Cost	14,104
Accumulated Depreciation	$ 2,521
Acquisition Date	Oct. 18, 2007
Retail | Real Estate Property Forty Nine
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 7,221
Initial Cost to Company, Land	3,790
Initial Cost to Company, Building & Improvements	11,152
Initial Cost to Company, Total	14,942
Gross Amount Carried, Land	3,790
Gross Amount Carried, Building and Improvements	11,152
Real Estate, Gross, Total Cost	14,942
Accumulated Depreciation	$ 3,054
Acquisition Date	Oct. 18, 2007
Retail | Real Estate Property Fifty
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 4,392
Initial Cost to Company, Land	5,850
Initial Cost to Company, Building & Improvements	14,547
Initial Cost to Company, Total	20,397
Gross Amount Carried, Land	5,850
Gross Amount Carried, Building and Improvements	14,547
Real Estate, Gross, Total Cost	20,397
Accumulated Depreciation	$ 4,263
Acquisition Date	Oct. 18, 2007
Retail | Real Estate Property Fifty One
Real Estate and Accumulated Depreciation [Line Items]
Market	Washington, DC
Number of Buildings | property	1
Encumbrances	$ 70,000
Initial Cost to Company, Land	19,779
Initial Cost to Company, Building & Improvements	42,515
Initial Cost to Company, Total	62,294
Cost Capitalized or Adjustments Subsequent to Acquisition	573
Gross Amount Carried, Land	19,781
Gross Amount Carried, Building and Improvements	43,086
Real Estate, Gross, Total Cost	62,867
Accumulated Depreciation	$ 15,583
Acquisition Date	Apr. 6, 2009
Retail | Real Estate Property Fifty Two
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Encumbrances	$ 0
Initial Cost to Company, Land	11,866
Initial Cost to Company, Building & Improvements	723
Initial Cost to Company, Total	12,589
Cost Capitalized or Adjustments Subsequent to Acquisition	8
Gross Amount Carried, Land	11,866
Gross Amount Carried, Building and Improvements	731
Real Estate, Gross, Total Cost	12,597
Accumulated Depreciation	$ 385
Acquisition Date	Feb. 18, 2011
Retail | Real Estate Property Fifty Three
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	1
Initial Cost to Company, Land	$ 3,783
Initial Cost to Company, Building & Improvements	9,713
Initial Cost to Company, Total	13,496
Cost Capitalized or Adjustments Subsequent to Acquisition	120
Gross Amount Carried, Land	3,783
Gross Amount Carried, Building and Improvements	9,833
Real Estate, Gross, Total Cost	13,616
Accumulated Depreciation	$ 4,529
Acquisition Date	Mar. 17, 2011
Retail | Real Estate Property Fifty Four
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	2
Initial Cost to Company, Land	$ 7,209
Initial Cost to Company, Building & Improvements	21,055
Initial Cost to Company, Total	28,264
Cost Capitalized or Adjustments Subsequent to Acquisition	1,191
Gross Amount Carried, Land	7,209
Gross Amount Carried, Building and Improvements	22,246
Real Estate, Gross, Total Cost	29,455
Accumulated Depreciation	$ 3,604
Acquisition Date	May 28, 2014
Retail | Real Estate Property Fifty Five
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	2
Initial Cost to Company, Land	$ 8,759
Initial Cost to Company, Building & Improvements	40,233
Initial Cost to Company, Total	48,992
Cost Capitalized or Adjustments Subsequent to Acquisition	(324)
Gross Amount Carried, Land	8,759
Gross Amount Carried, Building and Improvements	39,909
Real Estate, Gross, Total Cost	48,668
Accumulated Depreciation	$ 4,707
Acquisition Date	Nov. 4, 2014
Retail | Real Estate Property Fifty Six
Real Estate and Accumulated Depreciation [Line Items]
Market	Greater Boston
Number of Buildings | property	6
Initial Cost to Company, Land	$ 9,936
Initial Cost to Company, Building & Improvements	27,552
Initial Cost to Company, Total	37,488
Cost Capitalized or Adjustments Subsequent to Acquisition	(10)
Gross Amount Carried, Land	10,307
Gross Amount Carried, Building and Improvements	27,171
Real Estate, Gross, Total Cost	37,478
Accumulated Depreciation	$ 2,928
Acquisition Date	Mar. 18, 2015
Retail | Real Estate Property Fifty Seven
Real Estate and Accumulated Depreciation [Line Items]
Market	South Florida
Number of Buildings | property	3
Encumbrances	$ 10,523
Initial Cost to Company, Land	10,501
Initial Cost to Company, Building & Improvements	27,397
Initial Cost to Company, Total	37,898
Cost Capitalized or Adjustments Subsequent to Acquisition	12
Gross Amount Carried, Land	10,501
Gross Amount Carried, Building and Improvements	27,409
Real Estate, Gross, Total Cost	37,910
Accumulated Depreciation	$ 2,308
Acquisition Date	Aug. 6, 2015
Retail | Real Estate Property Fifty Eight
Real Estate and Accumulated Depreciation [Line Items]
Market	Northern New Jersey
Number of Buildings | property	4
Encumbrances	$ 0
Initial Cost to Company, Land	7,376
Initial Cost to Company, Building & Improvements	51,155
Initial Cost to Company, Total	58,531
Cost Capitalized or Adjustments Subsequent to Acquisition	428
Gross Amount Carried, Land	7,376
Gross Amount Carried, Building and Improvements	51,583
Real Estate, Gross, Total Cost	58,959
Accumulated Depreciation	$ 3,879
Acquisition Date	Oct. 8, 2015
Retail | Real Estate Property Fifty Nine
Real Estate and Accumulated Depreciation [Line Items]
Market	Tulsa, OK
Number of Buildings | property	4
Initial Cost to Company, Land	$ 3,492
Initial Cost to Company, Building & Improvements	30,655
Initial Cost to Company, Total	34,147
Cost Capitalized or Adjustments Subsequent to Acquisition	(109)
Gross Amount Carried, Land	3,492
Gross Amount Carried, Building and Improvements	30,546
Real Estate, Gross, Total Cost	34,038
Accumulated Depreciation	$ 1,319
Acquisition Date	Dec. 9, 2015
Retail | Real Estate Property Sixty
Real Estate and Accumulated Depreciation [Line Items]
Market	South Florida
Number of Buildings | property	4
Initial Cost to Company, Land	$ 34,804
Initial Cost to Company, Building & Improvements	33,902
Initial Cost to Company, Total	68,706
Cost Capitalized or Adjustments Subsequent to Acquisition	13
Gross Amount Carried, Land	34,804
Gross Amount Carried, Building and Improvements	33,915
Real Estate, Gross, Total Cost	68,719
Accumulated Depreciation	$ 1,462
Acquisition Date	May 27, 2016
Retail | Minimum | Real Estate Property Twenty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Twenty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Twenty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	2 years
Retail | Minimum | Real Estate Property Thirty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	2 years
Retail | Minimum | Real Estate Property Thirty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Thirty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	18 years
Retail | Minimum | Real Estate Property Forty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	16 years
Retail | Minimum | Real Estate Property Forty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	13 years
Retail | Minimum | Real Estate Property Forty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	4 years
Retail | Minimum | Real Estate Property Forty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	16 years
Retail | Minimum | Real Estate Property Forty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Forty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Forty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Forty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	2 years
Retail | Minimum | Real Estate Property Forty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	21 years
Retail | Minimum | Real Estate Property Forty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	22 years
Retail | Minimum | Real Estate Property Fifty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	15 years
Retail | Minimum | Real Estate Property Fifty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	6 years
Retail | Minimum | Real Estate Property Fifty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	3 years
Retail | Minimum | Real Estate Property Fifty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Minimum | Real Estate Property Fifty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	3 years
Retail | Minimum | Real Estate Property Sixty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	1 year
Retail | Maximum | Real Estate Property Twenty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Twenty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Twenty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Thirty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	68 years
Retail | Maximum | Real Estate Property Forty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	86 years
Retail | Maximum | Real Estate Property Forty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	43 years
Retail | Maximum | Real Estate Property Forty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	56 years
Retail | Maximum | Real Estate Property Forty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Forty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	65 years
Retail | Maximum | Real Estate Property Fifty One
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Two
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	62 years
Retail | Maximum | Real Estate Property Fifty Three
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Four
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Five
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Six
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Seven
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Eight
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Fifty Nine
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years
Retail | Maximum | Real Estate Property Sixty
Real Estate and Accumulated Depreciation [Line Items]
Depreciable Life (years)	40 years

Schedule III - Real Estate an88

Schedule III - Real Estate and Accumulated Depreciation (Activity of Real Estate and Accumulated Depreciation) (Details) - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Investments in real estate:
Balance at the beginning of the year		$ 2,380,174	$ 2,472,926	$ 2,570,480
Acquisitions of operating properties		68,706	357,811	158,221
Improvements		30,006	25,557	12,512
Basis of operating properties disposed of		(271,887)	(467,996)	(258,787)
Impairment of real property	[1]	(2,677)	(8,124)	(9,500)
Balance at the end of the year		2,204,322	2,380,174	2,472,926
Accumulated depreciation:
Balance at the beginning of the year		505,957	523,246	502,847
Real estate depreciation and amortization expense		80,105	83,114	88,994
Above-market lease assets amortization expenses		5,515	5,216	6,708
Accumulated depreciation and amortization written off		(98,666)	(105,619)	(75,303)
Balance at the end of the year		$ 492,911	$ 505,957	523,246
Held For Sale
Accumulated depreciation:
Real Estate Held-for-sale				$ 30,100
[1]	Includes approximately $265,000 and $125,000 paid to our Advisor for advisory fees associated with the disposition of real properties during the years ended December 31, 2016 and 2015, respectively.