KBS Real Estate Investment Trust 10-Q 13 Nov 14 2014 Q3 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information Document	9 Months Ended
	Sep. 30, 2014	Nov. 07, 2014
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'KBS Real Estate Investment Trust, Inc.	'
Entity Central Index Key	'0001330622	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Non-accelerated Filer	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-14	'
Document Fiscal Year Focus	'2014	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	188,143,932

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Real estate held for investment:	'		'
Land	$283,951		$293,212
Buildings and improvements	914,934		946,586
Tenant origination and absorption costs	94,643		107,498
Total real estate held for investment, at cost and net of impairment charges	1,293,528	[1]	1,347,296
Less accumulated depreciation and amortization	-184,551		-167,796
Total real estate held for investment, net	1,108,977		1,179,500
Real estate held for sale, net	19,549		99,299
Foreclosed real estate held for sale	19,390		19,064
Total real estate, net	1,147,916		1,297,863
Real estate loans receivable, net	28,727	[2]	29,768	[2]
Real estate securities	0		7,973
Total real estate and real estate-related investments, net	1,176,643		1,335,604
Cash and cash equivalents	89,975		211,391
Restricted cash	76,032		101,069
Rents and other receivables, net	41,462		37,301
Above-market leases, net	23,626		26,916
Assets related to real estate held for sale	1,110		5,820
Deferred financing costs, prepaid expenses and other assets, net	31,328		26,796
Total assets	1,440,176		1,744,897
Notes payable:	'		'
Notes payable	691,112		908,982
Notes payable related to real estate held for sale	5,700		53,300
Total notes payable	696,812		962,282
Accounts payable and accrued liabilities	29,176		34,288
Distributions payable	4,712		0
Below-market leases, net	43,714		53,858
Liabilities related to real estate held for sale	1,992		2,884
Other liabilities	34,640		35,692
Total liabilities	811,046		1,089,004
Commitments and contingencies (Note 14)	'		'
Redeemable common stock	4,918		10,000
Stockholders’ equity	'		'
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0		0
Common stock, $.01 par value; 1,000,000,000 shares authorized, 188,474,659 and 189,616,701 shares issued and outstanding as of September 30, 2014 and December 31, 2013, respectively	1,885		1,896
Additional paid-in capital	1,670,367		1,670,356
Cumulative distributions and net losses	-1,048,040		-1,030,911
Accumulated other comprehensive income	0		4,552
Total stockholders’ equity	624,212		645,893
Total liabilities and stockholders' equity	$1,440,176		$1,744,897
[1]	See “—Impairment of Real Estate.
[2]	Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) (USD $)	Sep. 30, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	188,474,659	189,616,701
Common stock, shares outstanding	188,474,659	189,616,701

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues:	'	'	'	'
Rental income	$37,793	$40,278	$115,447	$119,936
Tenant reimbursements	13,417	12,116	40,547	38,372
Interest income from real estate loans receivable	728	824	2,343	2,445
Parking revenues and other operating income	892	843	2,851	3,131
Total revenues	52,830	54,061	161,188	163,884
Expenses:	'	'	'	'
Operating, maintenance, and management	20,252	20,385	63,082	62,839
Real estate taxes, property-related taxes, and insurance	6,486	7,021	20,684	21,840
Asset management fees to affiliate	2,473	2,550	7,503	7,560
General and administrative expenses	3,582	4,094	10,910	12,609
Depreciation and amortization	19,274	19,049	55,158	57,582
Interest expense	9,994	15,863	36,575	46,205
Impairment charge on real estate held for investment	7,732	1,840	9,928	32,225
Provision for loan losses	0	0	1,973	0
Total expenses	69,793	70,802	205,813	240,860
Other income	'	'	'	'
Gain on sales of real estate securities (includes $4.5 million, $2.7 million and $2.8 million of unrealized gains reclassified from accumulated other comprehensive income during the nine months ended September 30, 2014 and three and nine months ended September 30, 2013, respectively)	0	2,626	4,410	2,793
Gain on sales of real estate, net	0	0	2,041	0
Gain on sales of foreclosed real estate held for sale	0	0	0	161
Gain from extinguishment of debt	16,216	0	21,328	0
Other interest income	117	126	414	494
Other income	28	0	393	0
Total other income	16,361	2,752	28,586	3,448
Loss from continuing operations	-602	-13,989	-16,039	-73,528
Discontinued operations:	'	'	'	'
Gain on sales of real estate, net	0	858	3,006	31,931
Income (loss) from discontinued operations	529	-365	873	1,616
Impairment charges on discontinued operations	-176	-1,419	-257	-4,566
Total income (loss) from discontinued operations	353	-926	3,622	28,981
Net loss	($249)	($14,915)	($12,417)	($44,547)
Basic and diluted income (loss) per common share:	'	'	'	'
Continuing operations (per share)	$0	($0.08)	($0.09)	($0.38)
Discontinued operations (per share)	$0	$0	$0.02	$0.15
Net loss per common share (per share)	$0	($0.08)	($0.07)	($0.23)
Weighted-average number of common shares outstanding, basic and diluted	188,758,927	190,306,682	189,128,629	190,637,814

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Parenthetical) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Income Statement [Abstract]	'	'	'
Unrealized gains on real estate securities reclassified from accumulated other comprehensive income	$2.70	$4.50	$2.80

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Statement of Comprehensive Income [Abstract]	'	'	'	'
Net loss	($249)	($14,915)	($12,417)	($44,547)
Other comprehensive (loss) income	'	'	'	'
Unrealized change in market value of real estate securities	0	-550	-100	9,008
Reclassification of realized gain on real estate securities	0	-2,663	-4,452	-2,832
Unrealized gains on derivative instruments	0	0	0	114
Total other comprehensive (loss) income	0	-3,213	-4,552	6,290
Total comprehensive loss	($249)	($18,128)	($16,969)	($38,257)

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Income (Loss) [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
In Thousands, except Share data, unless otherwise specified
Balance, value at Jan. 26, 2006	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Redemptions of common stock, shares	'	-10,960,921	'	'	'
Redemptions of common stock, value	'	($82,600)	'	'	'
Balance, value at Sep. 30, 2014	'	1,885	'	'	'
Balance, shares at Sep. 30, 2014	'	188,474,659	'	'	'
Balance, value at Dec. 31, 2012	771,415	1,911	1,677,725	-909,401	1,180
Balance, shares at Dec. 31, 2012	'	191,061,016	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Net loss	-46,495	'	'	-46,495	'
Other comprehensive income (loss)	3,372	'	'	'	3,372
Redemptions of common stock, shares	'	-1,444,315	'	'	'
Redemptions of common stock, value	-7,384	-15	-7,369	'	'
Distributions declared	-75,015	'	'	-75,015	'
Balance, value at Dec. 31, 2013	645,893	1,896	1,670,356	-1,030,911	4,552
Balance, shares at Dec. 31, 2013	189,616,701	189,616,701	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'
Net loss	-12,417	'	'	-12,417	'
Other comprehensive income (loss)	-4,552	'	'	'	-4,552
Redemptions of common stock, shares	'	-1,142,042	'	'	'
Redemptions of common stock, value	-5,082	-11	-5,071	'	'
Transfers from redeemable common stock	5,082	'	5,082	'	'
Distributions declared	-4,712	'	'	-4,712	'
Balance, value at Sep. 30, 2014	$624,212	$1,885	$1,670,367	($1,048,040)	$0
Balance, shares at Sep. 30, 2014	188,474,659	188,474,659	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Cash Flows from Operating Activities:	'	'
Net loss	($12,417)	($44,547)
Depreciation and amortization	'	'
Continuing operations	55,158	57,582
Discontinued operations	0	5,744
Impairment charges on real estate - continuing operations	9,928	32,225
Impairment charges on real estate - discontinued operations	257	4,566
Noncash interest income on real estate-related investments	-737	-763
Change in provision for loan losses	1,973	0
Deferred rent	-2,488	-3,660
Bad debt expense	1,519	1,271
Amortization of deferred financing costs	1,070	709
Deferred interest	637	0
Amortization of above- and below-market leases, net	-7,088	-9,160
Gain on sales of foreclosed real estate held for sale	0	-161
Gain on sales of real estate, net	-5,047	-31,931
Gain on sales of real estate securities	-4,410	-2,793
Gain on extinguishment of debt	-21,328	0
Amortization of discount and premium on notes payable, net	2,763	3,563
Changes in operating assets and liabilities:	'	'
Restricted cash for operational expenditures	10,332	-382
Rents and other receivables	-6,177	5,137
Prepaid expenses and other assets	-6,358	-3,459
Accounts payable and accrued liabilities	-886	2,657
Due to affiliates	0	-104
Other liabilities	345	-3,599
Net cash provided by operating activities	17,046	12,895
Cash Flows from Investing Activities:	'	'
Improvements to real estate	-17,806	-15,761
Proceeds from sales of real estate, net	86,953	92,451
Proceeds from sales of foreclosed real estate held for sale	0	4,937
Principal repayments on real estate loans receivable	84	34
Proceeds from sale of real estate securities	7,831	6,119
Net change in restricted cash for capital expenditures	2,132	3,320
Net cash provided by investing activities	79,194	91,100
Cash Flows from Financing Activities:	'	'
Proceeds from notes payable	42,500	475
Principal payments on notes payable	-254,045	-143,860
Net change in restricted cash for debt service obligations	702	4,694
Payments of deferred financing costs	-1,731	0
Payments to redeem common stock	-5,082	-5,118
Net cash used in financing activities	-217,656	-143,809
Net decrease in cash and cash equivalents	-121,416	-39,814
Cash and cash equivalents, beginning of period	211,391	254,578
Cash and cash equivalents, end of period	$89,975	$214,764

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION	'
	ORGANIZATION
	KBS Real Estate Investment Trust, Inc. (the “Company”) was formed on June 13, 2005 as a Maryland corporation and has elected to be taxed as a real estate investment trust (“REIT”). Substantially all of the Company’s assets are held by, and the Company conducts substantially all of its operations through, KBS Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), and its subsidiaries. The Company is the sole general partner of and directly owns a 99% partnership interest in the Operating Partnership. The Company’s wholly owned subsidiary, KBS REIT Holdings LLC, a Delaware limited liability company (“KBS REIT Holdings”), owns the remaining 1% partnership interest in the Operating Partnership and is its sole limited partner.
	The Company owns a diverse portfolio of real estate and real estate-related investments. As of September 30, 2014, the Company owned or, with respect to a limited number of properties, held a leasehold interest in, 409 real estate properties (of which eight properties were held for sale), including the GKK Properties (defined below). In addition, as of September 30, 2014, the Company owned four real estate loans receivable, a participation interest with respect to a real estate joint venture and a 10-story condominium building with 62 units acquired through foreclosure, of which three condominium units were owned by the Company and held for sale.
	On September 1, 2011, the Company, through indirect wholly owned subsidiaries (collectively, “KBS”), entered into a Collateral Transfer and Settlement Agreement (the “Settlement Agreement”) with, among other parties, GKK Stars Acquisition LLC (“GKK Stars”), the wholly owned subsidiary of Gramercy Property Trust, Inc. (“Gramercy”) that indirectly owned the Gramercy real estate portfolio, to effect the orderly transfer of certain assets and liabilities of the Gramercy real estate portfolio to KBS in satisfaction of certain debt obligations under a mezzanine loan owed by wholly owned subsidiaries of Gramercy to KBS (the “GKK Mezzanine Loan”). The Settlement Agreement resulted in the transfer of the equity interests in certain subsidiaries of Gramercy (the “Equity Interests”) that indirectly owned or, with respect to a limited number of properties, held a leasehold interest in, 867 properties (the “GKK Properties”), consisting of 576 bank branch properties and 291 office buildings, operations centers and other properties. As of December 15, 2011, GKK Stars had transferred all of the Equity Interests to the Company, giving the Company title to or, with respect to a limited number of GKK Properties, a leasehold interest in, 867 GKK Properties as of that date.
	Subject to certain restrictions and limitations, the business of the Company is managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, pursuant to an advisory agreement with the Company (the “Advisory Agreement”) in effect through November 8, 2015. The Advisory Agreement may be renewed for an unlimited number of one-year periods upon the mutual consent of the Advisor and the Company. Either party may terminate the Advisory Agreement upon 60 days written notice. The Advisor owns 20,000 shares of the Company’s common stock.
	Upon commencing its initial public offering (the “Offering”), the Company retained KBS Capital Markets Group LLC (the “Dealer Manager”), an affiliate of the Advisor, to serve as the dealer manager of the Offering pursuant to a dealer manager agreement dated January 27, 2006 (the “Dealer Manager Agreement”). The Company ceased offering shares of common stock in its primary offering on May 30, 2008. The Company terminated its dividend reinvestment plan effective April 10, 2012.
	The Company sold 171,109,494 shares of common stock in its primary offering for gross offering proceeds of $1.7 billion. The Company sold 28,306,086 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $233.7 million. As of September 30, 2014, the Company had redeemed 10,960,921 of the shares sold in the Offering for $82.6 million.
	Asset Management Services Agreement Related to the GKK Properties
	On March 30, 2012, the Company, through an indirect wholly owned subsidiary (“KBS Acquisition Sub”), entered into an Asset Management Services Agreement (the “Services Agreement”) with GKK Realty Advisors LLC (the “Property Manager”), an affiliate of Gramercy, with respect to the GKK Properties. Pursuant to the Services Agreement, the Property Manager agreed to provide, among other services: standard asset management services, assistance related to dispositions, accounting services and budgeting and business plans for the GKK Properties (the “Services”). The Property Manager is not affiliated with the Company or KBS Acquisition Sub.
	On December 19, 2013, KBS Acquisition Sub entered into an amended and restated asset management services agreement (the “Amended Services Agreement”) with the Property Manager. The effective date of the Amended Services Agreement was December 1, 2013. As compensation for the Services, the Company agreed to pay the Property Manager: (i) an annual fee of $7.5 million plus all GKK Property-related expenses incurred by the Property Manager, (ii) subject to certain terms and conditions in the Amended Services Agreement, a profit participation interest based on a percentage (ranging from 10% to 30%) of the amount by which the gross fair market value or gross sales price of certain identified portfolios of GKK Properties exceeds the sum of (a) an agreed-upon baseline value for such GKK Property portfolios plus (b) new capital expended to increase the value of GKK Properties within the portfolios and expenditures made to pay for tenant improvements and leasing commissions related to these GKK Properties as of the measurement date, and (iii) a monthly construction oversight fee equal to a percentage of construction costs for certain construction projects at the GKK Properties overseen by the Property Manager.
	The Amended Services Agreement will terminate on December 31, 2016, with a one-year extension option at the Company’s option, subject to certain terms and conditions contained in the Amended Services Agreement. The Amended Services Agreement supersedes and replaces all prior agreements related to the Services among the Company and its affiliates and the Property Manager and its affiliates.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2013. During the nine months ended September 30, 2014, the Company adopted ASU No. 2014-08 (defined below), which impacts the Company’s reporting of discontinued operations. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2013 included in the Company’s Annual Report on Form 10-K filed with the SEC.
	Principles of Consolidation and Basis of Presentation
	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The consolidated financial statements include the accounts of the Company, KBS REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
	Use of Estimates
	The preparation of the consolidated financial statements and condensed notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
	Reclassifications
	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. The Company early adopted ASU No. 2014-08 (defined below) for the reporting period beginning January 1, 2014. As a result, certain reclassifications were made to the consolidated balance sheets, statements of operations and footnote disclosures for all applicable periods presented to reflect properties sold or held for sale during the period ended September 30, 2014. Properties that were classified as held for sale in financial statements prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statements of operations. Properties that were disposed of or classified as held for sale in the ordinary course of business during the nine months ended September 30, 2014 that had not been classified as held for sale in financial statements prior to January 1, 2014 are included in continuing operations on the Company’s consolidated statements of operations.
	Per Share Data
	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three and nine months ended September 30, 2014 and 2013, respectively.
	Distributions declared per share of common stock were $0.025 and $0.025 for the three and nine months ended September 30, 2014, respectively. On September 30, 2014, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on September 30, 2014. No distributions were declared during the three and nine months ended September 30, 2013.
	Segments
	The Company’s segments are based on the Company’s method of internal reporting, which classifies its operations by investment type: (i) real estate, (ii) real estate-related and (iii) commercial properties primarily leased to financial institutions received under the Settlement Agreement, the GKK Properties. For financial data by segment, see Note 13, “Segment Information.”
	Recently Issued Accounting Standards Update
	In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360):  Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”).  ASU No. 2014-08 limits discontinued operations reporting to disposals of components of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs: a) the component of an entity or group of components of an entity meets the criteria to be classified as held for sale; b) the component of an entity or group of components of an entity is disposed of by sale; and c) the component of an entity or group of components of an entity is disposed of other than by sale.  ASU No. 2014-08 also requires additional disclosures about discontinued operations.  ASU No. 2014-08 is effective for reporting periods beginning after December 15, 2014.  Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company early adopted ASU No. 2014-08 for the reporting period beginning January 1, 2014.  As a result of the adoption of ASU No. 2014-08, results of operations for properties that are classified as held for sale in the ordinary course of business on or subsequent to January 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations, to the extent such disposals did not meet the criteria for classification as a discontinued operation described above. Additionally, any gain or loss on sale of real estate that does not meet the criteria for classification as a discontinued operation would be included in income from continuing operations on the consolidated statements of operations.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  The Company does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU 2014-15 to have a significant impact on its financial statements.

REAL_ESTATE_HELD_FOR_INVESTMEN

REAL ESTATE HELD FOR INVESTMENT	9 Months Ended
	Sep. 30, 2014
Real Estate Held for Investment [Abstract]	'
REAL ESTATE HELD FOR INVESTMENT	'
	REAL ESTATE HELD FOR INVESTMENT
	As of September 30, 2014, the Company’s portfolio of real estate held for investment, including the GKK Properties, was composed of approximately 10.2 million rentable square feet and was 83% occupied. These properties are located in 31 states and include office properties, industrial properties and bank branch properties. Included in the Company’s portfolio of real estate held for investment was 6.6 million rentable square feet related to the GKK Properties held for investment, which were 80% occupied as of September 30, 2014.
	The following table summarizes the Company’s investments in real estate as of September 30, 2014 and December 31, 2013 (in thousands):
			Land				Buildings and				Tenant				Total Real Estate
							Improvements				Origination and				Held for
											Absorption Costs				Investment
	As of September 30, 2014:
	Office		$	71,491			$	416,172			$	1,833			$	489,496
	Industrial		16,788				80,497				3,137				100,422
	GKK Properties		195,672				418,265				89,673				703,610
	Real estate held for investment, at cost and net of impairment charges (1)		283,951				914,934				94,643				1,293,528
	Accumulated depreciation/amortization		—				(144,885		)		(39,666		)		(184,551		)
	Real estate held for investment, net		$	283,951			$	770,049			$	54,977			$	1,108,977
	As of December 31, 2013:
	Office		$	73,480			$	418,921			$	5,515			$	497,916
	Industrial		16,788				82,816				5,220				104,824
	GKK Properties		202,944				444,849				96,763				744,556
	Real estate held for investment, at cost and net of impairment charges		293,212				946,586				107,498				1,347,296
	Accumulated depreciation/amortization		—				(128,926		)		(38,870		)		(167,796		)
	Real estate held for investment, net		$	293,212			$	817,660			$	68,628			$	1,179,500
	_____________________
	(1) See “—Impairment of Real Estate.”
	Operating Leases
	The Company’s real estate assets are leased to tenants under operating leases for which the terms and expirations vary. As of September 30, 2014, the Company’s leases, including the GKK Properties held for investment and excluding options to extend, had remaining terms of up to 12.4 years with a weighted-average remaining term of 5.2 years. As of September 30, 2014, leases related to the GKK Properties, excluding options to extend, had remaining terms of up to 12.4 years with a weighted-average remaining term of 5.6 years. Some of the Company’s leases have provisions to extend the term of the leases, options for early termination for all or a part of the leased premises after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. Additionally, the Company assumed several leases related to the GKK Properties which contain shedding rights provisions. As of September 30, 2014, these shedding rights totaled approximately 0.3 million square feet and can be exercised at various dates during 2015 and 2016. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires a security deposit from the tenant in the form of a cash deposit and/or a letter of credit. The amount required as a security deposit varies depending upon the terms of the respective lease and the creditworthiness of the tenant, but generally is not a significant amount. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit. Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $2.9 million and $3.2 million as of September 30, 2014 and December 31, 2013, respectively.
	During the nine months ended September 30, 2014 and 2013, the Company recognized deferred rent from tenants of $2.5 million and $3.4 million, respectively. These excess amounts for the nine months ended September 30, 2014 and 2013 were net of $1.0 million and $0.9 million of lease incentive amortization, respectively. As of September 30, 2014 and December 31, 2013, the cumulative deferred rent balance was $30.3 million and $27.8 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $6.1 million and $6.0 million of unamortized lease incentives as of September 30, 2014 and December 31, 2013, respectively. The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes and other recoverable costs in the period the related expenses are incurred.
	The future minimum rental income from the Company’s properties under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of September 30, 2014 for the years ending December 31 is as follows (in thousands):
	October 1, 2014 through December 31, 2014	$	31,463
	2015	126,397
	2016	123,300
	2017	113,135
	2018	99,519
	Thereafter	301,017
		$	794,831
	As of September 30, 2014, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
	Industry		Number of		Annualized				Percentage of
			Tenants		Base Rent (1)				Annualized Base Rent
					(in thousands)
	Finance		67		$	61,925			46.6	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	As of September 30, 2014, no other tenant industries accounted for more than 10% of the Company’s annualized base rent. The Company currently has approximately 400 tenants over a diverse range of industries and geographical regions. As of September 30, 2014, the Company had a bad debt expense reserve of $2.8 million. The Company’s bad debt expense reserve included $2.6 million related to the GKK Properties. During the nine months ended September 30, 2014 and 2013, the Company recorded bad debt expense related to its tenant receivables of $1.4 million and $0.8 million, respectively.
	As of September 30, 2014, the Company had a concentration of credit risk related to leases with the following tenant that represented more than 10% of the Company’s annualized base rent:
												Annualized Base Rent Statistics
	Tenant		Property		Tenant		Rentable Square Feet		% of			Annualized Base Rent (1)				% of Portfolio Annualized Base Rent		Annualized Base Rent per Square Foot		Lease Expirations
					Industry				Portfolio Rentable Square Feet			(in thousands)
	Bank of America, N.A.		Various		Finance		3,093,593		30.4	%		$	27,465			20.7	%	$	8.88	(2)
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	(2) As of September 30, 2014, lease expiration dates ranged from 2015 through 2026 with a weighted-average remaining term of 5.6 years. Additionally, as of September 30, 2014, certain of Bank of America’s leases contained shedding right provisions. These shedding rights totaled approximately 0.3 million square feet and can be exercised at various dates from 2015 through 2016.
	Bank of America Corporation is the guarantor of various leases that its subsidiary, Bank of America, N.A., has with the Company. The condensed consolidated financial information of Bank of America Corporation has been included herein because of the significant credit concentration the Company has with this guarantor. Bank of America Corporation currently files its financial statements in reports filed with the SEC, and the following unaudited summary financial data regarding Bank of America Corporation is taken from its previously filed public reports. For more detailed financial information regarding Bank of America Corporation, please refer to its financial statements, which are publicly available with the SEC at http:// www.sec.gov.
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Consolidated Statements of Income (in millions)
	Total revenue, net of interest expense	$	21,209			$	21,530			$	65,522			$	67,454
	Income before income taxes	431				4,845				2,545				12,327
	Net income (loss)	(232		)		2,497				1,783				7,992
		As of
		September 30, 2014				December 31, 2013
	Consolidated Balance Sheets (in millions)
	Total assets	$	2,123,613			$	2,102,273
	Total liabilities	1,884,932				1,869,588
	Total stockholders’ equity	238,681				232,685
	Geographic Concentration Risk
As of September 30, 2014, the Company’s net investments in real estate in North Carolina represented 11.6% of the Company’s total assets.  As a result, the geographic concentration of the Company’s portfolio makes it particularly susceptible to adverse economic developments in North Carolina’s real estate market. Any adverse economic or real estate developments in this market, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for office or bank branch space resulting from the local business climate, could adversely affect the Company’s operating results.
Impairment of Real Estate
Due to changes in cash flow estimates and hold periods, the Company recognized non-cash impairment charges to write-down the carrying value of certain of its real estate investments to their estimated fair values. During the three and nine months ended September 30, 2014, the Company recorded impairment charges of $7.7 million with respect to three properties (including one GKK Property) and $9.9 million with respect to five properties (including one GKK Property), respectively. Included in the Company’s impairment charges during the three and nine months ended September 30, 2014 was a $7.2 million impairment charge to reduce the carrying value of the Company’s investment in Tysons Dulles Plaza, an office property located in McLean, Virginia, to its estimated fair value due to a change in cash flow projections. The Company revised its cash flow projections for Tysons Dulles Plaza primarily because of a continued lag in demand in the Washington D.C. office rental market, resulting in ongoing leasing challenges and lower projected revenue growth.  The Company also revised its cash flow projections to account for higher projected capital costs for tenant improvements and general building upgrades needed to attract additional tenants.
During the three and nine months ended September 30, 2013, the Company recorded impairment charges of $1.8 million with respect to one GKK Property and $32.2 million with respect to seven properties (including two GKK Properties), respectively.  Included in the Company’s impairment charges during the nine months ended September 30, 2013 was a $19.5 million impairment charge to reduce the carrying value of the Company’s investment in Tysons Dulles Plaza to its estimated fair value. The Company revised its cash flow projections for Tysons Dulles Plaza primarily because of a decrease in demand in the Washington D.C. office rental market, resulting in lower projected revenues, and higher projected capital costs for tenant improvements and general building upgrades needed to attract additional tenants. The Company also revised its projections to address various deferred maintenance issues and other building system upgrades and replacements. Also, included in the Company’s impairment charges during the nine months ended September 30, 2013 was a $6.6 million impairment charge, to reduce the carrying value of the Company’s investment in Bridgeway Technology Center, an office-flex property located in Newark, California, to its estimated fair value. The impairment was due to a change in the projected hold period and a decrease in projected cash flows as a result of a difficult leasing environment. See Note 7, “Real Estate Held for Sale and Discontinued Operations,” for information regarding impairments of assets related to real estate held for sale prior to the Company’s early adoption of ASU No. 2014-08.

TENANT_ORIGINATION_AND_ABSORPT

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	9 Months Ended
	Sep. 30, 2014
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	'
	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
	As of September 30, 2014 and December 31, 2013, the Company’s tenant origination and absorption costs, above-market lease assets, and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013
	Cost, net of impairments	$	94,643		$	107,498		$	34,362		$	36,586		$	(77,477	)	$	(83,869	)
	Accumulated amortization	(39,667		)	(38,870		)	(10,736		)	(9,670		)	33,763			30,011
	Net Amount	$	54,976		$	68,628		$	23,626		$	26,916		$	(43,714	)	$	(53,858	)
	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2014 and 2013 were as follows (in thousands):
		Tenant Origination  and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Three Months Ended September 30,						For the Three Months Ended September 30,						For the Three Months Ended September 30,
		2014			2013			2014			2013			2014			2013
	Amortization	$	(4,983	)	$	(4,685	)	$	(922	)	$	(1,080	)	$	3,662		$	3,220
		Tenant Origination  and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Nine Months Ended September 30,						For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013			2014			2013
	Amortization	$	(12,809	)	$	(14,426	)	$	(2,931	)	$	(3,376	)	$	9,777		$	9,895

REAL_ESTATE_LOANS_RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
REAL ESTATE LOANS RECEIVABLE	'
	REAL ESTATE LOANS RECEIVABLE
	As of September 30, 2014 and December 31, 2013, the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands):
	Loan Name		Date		Property		Loan	Outstanding				Book Value			Book Value			Contractual	Annualized		Maturity
	Location of Related Property or Collateral		Acquired/		Type		Type	Principal				as of			as of			Interest	Effective		Date
			Originated					Balance as of				September 30,			December 31,			Rate (3)	Interest
								September 30,				2014 (2)			2013 (2)				Rate (3)
								2014 (1)
	Sandmar Mezzanine Loan		1/9/07		Retail		Mezzanine	$	5,261			$	5,282		$	5,025		5.40%	5.2	%	1/1/17
	Southeast U.S. (4)
	Lawrence Village Plaza Loan Origination		8/6/07		Retail		Mortgage	6,849				6,849			6,878			8.00%	8.1	%	9/1/15
	New Castle, Pennsylvania (5)
	San Diego Office Portfolio B-Note		10/26/07		Office		B-Note	20,000				17,256			16,710			5.80%	11.2	%	10/11/17
	San Diego, California (6)
	4929 Wilshire B-Note		11/19/07		Office		B-Note	3,899				3,334			3,245			6.10%	12.4	%	7/11/17
	Los Angeles, California
								$	36,009			$	32,721		$	31,858
	Reserve for Loan Losses (7)							—				(3,994		)	(2,090		)
								$	36,009			$	28,727		$	29,768
	_____________________
	(1) Outstanding principal balance as of September 30, 2014 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
	(2) Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
	(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2014, using the interest method, divided by the average amortized cost basis of the investment during 2014. The contractual interest rates and annualized effective interest rates presented are as of September 30, 2014.
	(4) The Company had recorded an asset-specific loan loss reserve against this investment as of September 30, 2014. See “—Reserve for Loan Losses.”
	(5) On August 29, 2014, the Company and the borrower under the Lawrence Village Plaza Loan Origination entered into a loan modification under which the maturity date was extended to September 1, 2015.
	(6) The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the nine months ended September 30, 2014, the Company recognized $1.4 million of interest income related to its investment in this loan.
	(7) See “—Reserve for Loan Losses.”
	As of September 30, 2014 and December 31, 2013, interest receivable from real estate loans receivable was $0.1 million and $0.5 million, respectively, and is included in rents and other receivables.
	The following summarizes the activity related to real estate loans receivable for the nine months ended September 30, 2014 (in thousands):
	Real estate loans receivable, net - December 31, 2013	$	29,768
	Deferred interest	279
	Principal repayments received on real estate loan receivable	(84		)
	Accretion of discounts on purchased real estate loans receivable	761
	Amortization of origination fees and costs on purchased and originated real estate loans receivable	(24		)
	Change in loan loss reserve	(1,973		)
	Real estate loans receivable, net - September 30, 2014	$	28,727
	For the three and nine months ended September 30, 2014 and 2013, interest income from real estate loans receivable consisted of the following (in thousands):
		Three Months Ended September 30,							Nine Months Ended September 30,
		2014				2013			2014				2013
	Contractual interest income	$	495			$	600		$	1,606			$	1,780
	Interest accretion	239				215			761				620
	Amortization of origination fees and costs and acquisition costs, net	(6		)		9			(24		)		45
	Interest income from real estate loans receivable	$	728			$	824		$	2,343			$	2,445
	The Company generally recognizes income on impaired loans on either a cash basis, where interest income is only recorded when received in cash, or on a cost-recovery basis, where all cash receipts are applied against the carrying value of the loan. The Company will resume the accrual of interest if it determines the collection of interest according to the contractual terms of the loan is probable. The Company considers the collectibility of the loan’s principal balance in determining whether to recognize income on impaired loans on a cash basis or a cost-recovery basis. During the nine months ended September 30, 2014 and 2013, the Company recognized $0.2 million and $0.3 million, respectively, of interest income related to the Sandmar Mezzanine Loan, which has an asset-specific reserve.
	Reserve for Loan Losses
	Changes in the Company’s reserve for loan losses for the nine months ended September 30, 2014 were as follows (in thousands):
	Reserve for loan losses, December 31, 2013	$	2,090
	Provision for loan losses	1,973
	Reduction to reserve for loan losses	(69		)
	Reserve for loan losses, September 30, 2014	$	3,994
	As of September 30, 2014, the total reserve for loan losses consisted of $4.0 million of asset-specific reserves related to the Sandmar Mezzanine Loan, which had an amortized cost basis of $5.3 million.
	The Company recorded a provision for loan loss reserves of $2.0 million related to the Sandmar Mezzanine Loan during the nine months ended September 30, 2014. During the nine months ended September 30, 2013, the Company did not record provision for loan loss reserves and reduced its reserves. As of September 30, 2014, the borrower under the Sandmar Mezzanine Loan was delinquent and the Company will recognize income on this loan on a cost-recovery basis.

REAL_ESTATE_SECURITIES

REAL ESTATE SECURITIES	9 Months Ended
	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
REAL ESTATE SECURITIES	'
	REAL ESTATE SECURITIES
	During the nine months ended September 30, 2014, the Company sold 1,386,602 shares of common stock of Gramercy for an aggregate sales price of $7.9 million. As a result, during the nine months ended September 30, 2014, the Company realized a gain on sale of its shares of common stock of Gramercy of $4.4 million. The following summarizes the activity related to real estate securities for the nine months ended September 30, 2014 (in thousands):
		Amortized			Unrealized			Total
		Cost Basis			Gains (Losses)
	Real estate securities - December 31, 2013	$	3,421		$	4,552		$	7,973
	Unrealized change in market value of real estate securities	—			(100		)	(100		)
	Sale of real estate securities	(3,421		)	(4,452		)	(7,873		)
	Real estate securities - September 30, 2014	$	—		$	—		$	—

REAL_ESTATE_HELD_FOR_SALE_AND_

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	'
	REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS
	The Company early adopted ASU No. 2014-08 for the reporting period beginning January 1, 2014. As a result of the adoption of ASU 2014-08, properties that are classified as held for sale in the ordinary course of business on or subsequent to January 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations. For more information, see Note 2, “Summary of Significant Accounting Policies — Recently Issued Accounting Standards Update.” Properties that were classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statement of operations. The operations and the aggregate net gains recognized upon the dispositions of properties that were classified as held for sale or to be disposed of prior to the reporting period beginning January 1, 2014 are presented as discontinued operations in the accompanying consolidated statements of operations for all periods presented. During the year ended December 31, 2013, the Company disposed of 112 properties (of which 111 were GKK Properties). During the nine months ended September 30, 2014, the Company disposed of ten properties (of which five were GKK Properties), transferred a portfolio of five properties to the lender in satisfaction of the debt and other obligations due under the BOA Windsor Mortgage Portfolio (defined below), terminated its leasehold interest in one property, transfered two GKK Properties to the lenders in connection with foreclosure proceedings (see Note 9, “Notes Payable ­— Loan Maturities and Defaults,” for information regarding foreclosure proceedings) and classified eight properties (of which seven were GKK Properties) with an aggregate net book value of $19.5 million as held for sale.
	The following summary presents the major components of real estate held for sale and liabilities related to real estate held for sale as of September 30, 2014 and December 31, 2013 (in thousands):
		September 30, 2014			December 31, 2013
	Assets related to real estate held for sale
	Total real estate, at cost and net of impairment charges	$	22,042		$	113,542
	Accumulated depreciation and amortization	(2,493		)	(14,243		)
	Real estate held for sale, net	19,549			99,299
	Other assets	1,110			5,820
	Total assets related to real estate held for sale	$	20,659		$	105,119
	Liabilities related to real estate held for sale
	Notes payable	5,700			53,300
	Other liabilities	1,992			2,884
	Total liabilities related to real estate held for sale	$	7,692		$	56,184
	During the nine months ended September 30, 2014, the Company classified one historical real estate property as held for sale. In addition, the Company sold four historical real estate properties and one GKK Property, disposed of a portfolio of five properties in connection with a deed-in-lieu of foreclosure, and transferred two GKK Properties to the lenders in connection with foreclosure proceedings, which properties were not classified as held for sale in financial statements issued for the reporting period prior to January 1, 2014. In accordance with the Company’s early adoption of ASU No. 2014-08, the operations of these properties are included in continuing operations on the accompanying statements of operations. The following table summarizes certain revenue and expenses related to these properties for the three and nine months ended September 30, 2014 and 2013 (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenues
	Rental income	$	1,072		$	3,667		$	7,335		$	10,949
	Tenant reimbursements and other operating income	262			701			1,747			2,206
	Total Revenues	1,334			4,368			9,082			13,155
	Expenses
	Operating, maintenance, and management	390			1,330			2,393			4,243
	Real estate taxes and insurance	206			637			1,604			1,954
	Asset management fees to affiliate	34			132			292			390
	General and administrative expenses	19			3			42			12
	Depreciation and amortization	112			1,194			2,204			3,367
	Interest expense	649			1,926			4,445			5,423
	Impairment of real estate	—			—			2,196			873
	Total expenses	1,410			5,222			13,176			16,262
	Discontinued Operations
	The following table summarizes operating income (loss) from discontinued operations for the three and nine months ended September 30, 2014 and 2013 (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Total revenues and other income	$	532		$	4,463		$	1,528		$	22,639
	Total expenses	3			4,828			655			21,023
	Income (loss) from discontinued operations before gain on sales of real estate, net and impairment charge	529			(365		)	873			1,616
	Gain on sales of real estate, net	—			858			3,006			31,931
	Impairment charge	(176		)	(1,419		)	(257		)	(4,566		)
	Income (loss) from discontinued operations	$	353		$	(926	)	$	3,622		$	28,981

FORECLOSED_REAL_ESTATE_HELD_FO

FORECLOSED REAL ESTATE HELD FOR SALE	9 Months Ended
	Sep. 30, 2014
Foreclosed Real Estate Held for Sale [Abstract]	'
FORECLOSED REAL ESTATE HELD FOR SALE	'
	FORECLOSED REAL ESTATE HELD FOR SALE
	In 2006 and 2007, the Company originally made three debt investments (collectively, the “Tribeca Loans”) related to the conversion of an eight-story loft building into a 10-story condominium building with 62 units (the “Tribeca Building”) located at 415 Greenwich Street in New York, New York. On February 19, 2010, the borrowers under the Tribeca Loans defaulted and the Company foreclosed on the Tribeca Building by exercising its right to accept 100% of the ownership interest of the borrowers. The Company acquired the remaining unsold condominium units of the Tribeca Building and assumed the project liabilities. The Company recorded the Tribeca Building at fair value using a discounted cash flow valuation model based on the net realizable value (expected sales price less estimated costs to sell the unsold units) of the real estate.
	As of September 30, 2014, the Company’s investment in the Tribeca Building consisted of three condominium units with a carrying value of $19.4 million and is presented as foreclosed real estate held for sale on the consolidated balance sheet. As of September 30, 2014, the remaining three condominium units in the Tribeca Building were all under contract to sell. The Company did not sell any condominium units of the Tribeca Building during the nine months ended September 30, 2014 and recorded expenses of $1.1 million related to foreclosed real estate held for sale. During the nine months ended September 30, 2013, the Company sold two retail spaces in the Tribeca Building and recognized a gain on sale of $0.2 million and recorded expenses of $1.2 million related to foreclosed real estate held for sale.

NOTES_PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2014
Notes Payable [Abstract]	'
NOTES PAYABLE	'
	NOTES PAYABLE
	As of September 30, 2014 and December 31, 2013, the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands):
	Loan Type		Book Value as of			Book Value as of			Contractual	Weighted-Average	Weighted-Average
			September 30, 2014			December 31, 2013			Interest Rates as of	Interest Rates as of	Remaining Term
									September 30, 2014 (1)	September 30, 2014 (1)	in Years (2)
	Fixed Rate
	Mortgage loans		$	62,200		$	165,399		5.90%	5.90%	2
	GKK Properties mortgage loans		420,502			600,694			5.1% - 6.8%	5.80%	3.9
			482,702			766,093
	Variable Rate
	Mortgage loans		181,249			210,400			One-month LIBOR + 1.80%	2.00%	1.3
	GKK Properties mortgage loans		40,000			—			One-month LIBOR + 3.00%	3.20%	2.7
			221,249			210,400
	Total notes payable principal outstanding		703,951			976,493
	Discount on notes payable, net (3)		(7,139		)	(14,211		)
	Total notes payable, net		$	696,812		$	962,282
	_____________________
	(1) Contractual interest rates as of September 30, 2014 represent the range of interest rates in effect under these loans as of September 30, 2014. Weighted-average interest rates as of September 30, 2014 are calculated as the actual interest rates in effect under these loans as of September 30, 2014 (consisting of the contractual interest rates), using interest rate indices as of September 30, 2014, where applicable.
	(2) Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of September 30, 2014; subject to certain conditions, the maturity dates of certain loans may be further extended.
	(3) Represents the unamortized discount and premium on notes payable due to the above- and below-market interest rates when the loans were assumed. The discount and premium are amortized over the remaining life of the respective loan.
	As of September 30, 2014 and December 31, 2013, the Company’s deferred financing costs were $2.4 million and $1.9 million, respectively, net of amortization. During the three and nine months ended September 30, 2014, the Company incurred interest expense, net of discontinued operations, of $10.0 million and $36.6 million, respectively. During the three and nine months ended September 30, 2013, the Company incurred interest expense, net of discontinued operations, of $15.9 million and $46.2 million, respectively. Included in interest expense was: (i) the amortization of deferred financing costs of $0.4 million and $1.1 million for the three and nine months ended September 30, 2014 and $0.2 million and $0.6 million for the three and nine months ended September 30, 2013, respectively and (ii) the amortization of discount and premium on notes payable, which increased interest expense by $0.6 million and $2.8 million for the three and nine months ended September 30, 2014 and $0.6 million and $1.9 million for the three and nine months ended September 30, 2013, respectively. As of September 30, 2014 and December 31, 2013, $3.8 million and $7.9 million of interest was payable, respectively.
	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of September 30, 2014 (in thousands):
	October 1, 2014 through December 31, 2014	$	4,159
	2015	50,654
	2016	321,758
	2017	159,175
	2018	8,651
	Thereafter	159,554
		$	703,951
	The following summarizes the activity related to notes payable for the nine months ended September 30, 2014 (in thousands):
	Total notes payable, net  - December 31, 2013	$	962,282
	Proceeds from notes payable	42,500
	Deferred interest payable	637
	Extinguishment of debt - discounted payoff agreement	(26,825		)
	Extinguishment of debt - foreclosure or deed-in-lieu of foreclosure	(54,037		)
	Principal repayments	(230,508		)
	Amortization of discount and premium on notes payable, net	2,763
	Total notes payable, net  - September 30, 2014	$	696,812
	Significant Transactions
	Citizens Bank Portfolio Mortgage Loan
	On May 29, 2014, the Company, through an indirect wholly owned subsidiary, entered into a three-year mortgage loan with an unaffiliated lender, for borrowings of $40.0 million (the “Committed Amount”) secured by 52 Citizens Bank branch properties (the “Citizens Bank Portfolio Mortgage Loan”). The Citizens Bank Portfolio Mortgage Loan matures on June 1, 2017, with a one-year extension option, subject to certain terms and conditions contained in the loan documents. The Citizens Bank Portfolio Mortgage Loan bears interest at a floating rate of 300 basis points over one-month LIBOR. Monthly payments are interest-only. The Committed Amount must be reduced to $35.0 million as of May 29, 2015 and $30.0 million as of May 29, 2016. In addition, the Committed Amount must not be greater than $25.0 million as of May 29, 2017 for the Company to be permitted to exercise its extension option.
	The Company used proceeds from the Citizens Bank Portfolio Mortgage Loan closing and cash on hand to repay the $63.1 million outstanding principal balance due under the previous loan secured by 52 Citizens Bank branch properties (the “CRE Mortgage Loan”). The CRE Mortgage Loan bore interest at 8.24% and was scheduled to mature July 1, 2036.
	The Company, the borrower under the Citizens Bank Portfolio Mortgage Loan and two of the Company’s wholly owned subsidiaries, jointly and severally, are providing a guaranty of 100% of the principal outstanding and any and all other sums outstanding under or relating to the Citizens Bank Portfolio Mortgage Loan on the date the loan becomes due and payable in full.
	BBD2 Loan
	On April 16, 2014, the Company entered into an amendment (the “Fourth Amendment”) with respect to a mortgage loan the Company assumed pursuant to the Settlement Agreement (the “BBD2 Loan”). Pursuant to the terms of the Fourth Amendment, the Company paid to the lender under the BBD2 Loan (the “BBD2 Lender”) the amount of $52.0 million, $7.0 million of which was drawn from a reserve fund. The $52.0 million payment was applied to the outstanding balance of the BBD2 Loan free of defeasance, prepayment or any other fees, costs, expenses, restrictions or obligations of any type. Among other modifications, the Company and the BBD2 Lender also agreed upon a revised method of calculating operating income and the removal of the limitation on the number of times an event causing the imposition of a “cash trap” event could be cured by the Company under the BBD2 Loan Agreement, as disclosed in the Fourth Amendment. As of September 30, 2014, the outstanding principal balance for BBD2 Loan was $138.9 million.
	Loan Maturities and Defaults
	During the nine months ended September 30, 2014, the Company: entered into a discounted payoff agreement with respect to a loan secured by one of the Company’s historical real estate investments with an outstanding principal balance of $26.8 million (the “Bridgeway Technology Center Mortgage Loan”); entered into a deed-in-lieu of foreclosure and transferred GKK Properties that secured a mortgage loan the Company assumed pursuant to the Settlement Agreement with an outstanding principal balance of $6.1 million (the “BOA Windsor Mortgage Portfolio Loan”) to the lender in full satisfaction of the debt and other obligations due under the loan; transferred a GKK Property that secured a mortgage loan the Company assumed pursuant to the Settlement Agreement with an outstanding principal balance of $37.6 million (the “801 Market Street Mortgage Loan”) to the lender in connection with a foreclosure; and transferred a GKK Property that secured a mortgage loan the Company assumed pursuant to the Settlement Agreement with an outstanding principal balance of $14.6 million (the “Jenkins Court Mortgage Loan”) to the lender in connection with a foreclosure. During the three and nine months ended September 30, 2014, the Company recorded gain from extinguishment of debt of $16.2 million and $21.3 million, respectively.
	Bridgeway Technology Center Mortgage Loan
	Beginning in June 2013, the Company failed to meet the monthly debt service payment requirements of the Bridgeway Technology Center Mortgage Loan and defaulted on this loan. As a result of the default, on June 12, 2013, the lender declared the total outstanding principal amount of $26.8 million together with any accrued interest, applicable default interest and any other interest and late charges immediately due and payable. The Bridgeway Technology Center Mortgage Loan matured on August 1, 2013. On April 14, 2014, the Company entered into an agreement with the lender to satisfy all amounts owed under the Bridgeway Technology Center Mortgage Loan, including the outstanding principal balance of $26.8 million and accrued and unpaid interest of $2.1 million, at a discounted payoff amount of $25.6 million, resulting in a gain on extinguishment of debt of $3.3 million.
	BOA Windsor Mortgage Portfolio Loan
	The BOA Windsor Mortgage Portfolio Loan matured on October 31, 2012 and on February 14, 2013, proceedings relating to the foreclosure of the properties securing the loan were commenced. On February 21, 2014, the Company entered into agreements for deed-in-lieu of foreclosure and transferred the properties securing the BOA Windsor Mortgage Portfolio Loan to the lender in full satisfaction of the debt and other obligations due under the loan.
	As a result of the deed-in-lieu of foreclosure, the Company recorded a gain on extinguishment of debt of $1.8 million, which represents the difference between the carrying amount of the outstanding debt and other liabilities of approximately $7.0 million and the carrying value of the real estate properties and other assets which secured the loan of approximately $5.2 million, upon transfer of the properties securing the loan. Included in this gain on extinguishment of debt is a gain on the settlement of debt of $0.4 million, which represents the difference between the carrying value of the liabilities and the estimated fair value of the assets transferred to the lender, and a gain on the transfer of real estate assets of $1.4 million, which represents the difference between the estimated fair value and the carrying value of the real estate assets as of the date of transfer.
	801 Market Street Mortgage Loan
	The 801 Market Street Mortgage Loan matured on February 1, 2013 and as a result of the maturity, the lender commenced foreclosure proceedings and sought a judgment against the Company in the amount of $35.3 million, together with additional interest, fees, charges and costs recoverable under the loan documents. Effective as of June 17, 2013, the Company and the lender agreed to the appointment of a receiver to manage the property securing the 801 Market Street Mortgage Loan (“801 Market Street”) during the foreclosure proceedings. Upon the appointment of a receiver, the Company was precluded from any participation in the management of, or access to income or any financial information with respect to, 801 Market Street. The foreclosure sale of 801 Market Street took place on July 1, 2014 and title to the property transferred to the purchaser as of August 9, 2014, at which point the Company derecognized the property. In connection with the transfer of title to 801 Market Street to the purchaser, the lender released the Company from all debt and other obligations due under the 801 Market Street Mortgage Loan, with the exception of certain obligations of the Company described in the transaction documents which survive the transfer of title to 801 Market Street to the purchaser.
	During the nine months ended September 30, 2014, the Company recorded revenues and expenses of $4.1 million and $5.0 million, respectively, related to 801 Market Street. During the nine months ended September 30, 2013, the Company recorded revenues and expenses of $6.5 million and $6.8 million, respectively, related to 801 Market Street. The Company was not involved in the management of, and was unable to obtain any financial information related to, 801 Market Street between the time the receiver was appointed and the time title to the property transferred to the purchaser. Revenues and expenses during this period were estimated primarily based on historical operations of 801 Market Street prior to the appointment of the receiver.
	As a result of the foreclosure sale, the Company recorded a gain on extinguishment of debt of $12.6 million, which represents the difference between the carrying amount of the outstanding debt and other liabilities of approximately $43.8 million and the carrying value of 801 Market Street and the other assets which secured the loan of approximately $31.2 million, upon transfer of the assets securing the loan. Included in this gain on extinguishment of debt is a gain on the settlement of debt of $11.0 million, which represents the difference between the carrying value of the liabilities and the estimated fair value of the assets transferred, and a gain on the transfer of real estate of $1.6 million, which represents the difference between the estimated fair value and the carrying value of 801 Market Street and other assets securing the 801 Market Street Mortgage Loan as of the date of transfer.
	Jenkins Court Mortgage Loan
	Beginning in June 2013, the Company failed to meet the monthly debt service payment requirements of the Jenkins Court Mortgage Loan and defaulted on this loan. On or about August 20, 2013, the lender commenced foreclosure proceedings and sought a judgment against the Company in the amount of $13.2 million, together with additional interest, fees, charges and costs recoverable under the loan documents. Effective as of September 24, 2013, the Company and the lender agreed to the appointment of a receiver to manage the property securing the loan (“Jenkins Court”) during the foreclosure proceedings. Upon the appointment of a receiver, the Company was precluded from any participation in the management of, or access to income or any financial information with respect to, Jenkins Court. The foreclosure sale of Jenkins Court took place on June 3, 2014 and title to Jenkins Court transferred to the purchaser as of July 24, 2014, at which point, the Company derecognized Jenkins Court. In connection with the transfer of title to the purchaser, the lender released the Company from all debt and other obligations related to the Jenkins Court Mortgage Loan, with the exception of certain obligations of the Company described in the transaction documents which survive the transfer of title to Jenkins Court to the purchaser.
	During the nine months ended September 30, 2014, the Company recorded revenues and expenses of $1.3 million and $2.6 million, respectively, related to Jenkins Court. During the nine months ended September 30, 2013, the Company recorded revenues and expenses of $1.8 million and $2.9 million, respectively, related to Jenkins Court. The Company was not involved in the management of, and was unable to obtain any financial information related to, Jenkins Court between the time the receiver was appointed and the time title to Jenkins Court transferred to the purchaser. Revenues and expenses during this period were estimated primarily based on historical operations of Jenkins Court prior to the appointment of the receiver.
	As a result of the foreclosure sale, the Company recorded a gain on extinguishment of debt of $3.6 million, which represents the difference between the carrying amount of the outstanding debt and other liabilities of approximately $12.2 million and the carrying value of Jenkins Court and the other assets which secured the loan of approximately $8.6 million, upon transfer of the assets securing the loan. Included in this gain on extinguishment of debt is a gain on the settlement of debt of $0.8 million, which represents the difference between the carrying value of the liabilities and the estimated fair value of the assets transferred, and a gain on the transfer of real estate of $2.8 million, which represents the difference between the estimated fair value and the carrying value of the real estate property and other assets securing the Jenkins Court Mortgage Loan as of the date of transfer.
	Debt Covenants
	The documents evidencing the Company’s outstanding debt obligations typically require that specified loan-to-value and debt service coverage ratios be maintained with respect to the financed properties. A breach of the financial covenants in these documents may result in the lender imposing additional restrictions on the Company’s operations, such as restrictions on the Company’s ability to incur additional debt, or may allow the lender to impose “cash traps” with respect to cash flow from the property securing the loan. In addition, such a breach may constitute an event of default and the lender could require the Company to repay the debt immediately. If the Company fails to make such repayment in a timely manner, the lender may be entitled to take possession of any property securing the loan. As of September 30, 2014, the Company was in compliance with these debt covenants.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
FAIR VALUE DISCLOSURES	'
	FAIR VALUE DISCLOSURES
	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories:
	•	Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
	•	Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
	•	Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable.
	The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value:
	Cash and cash equivalents, restricted cash, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items.
	Real estate loans receivable: These instruments are presented in the accompanying consolidated balance sheets at their amortized cost net of recorded loan loss reserves and not at fair value. The fair values of real estate loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans, underlying collateral values (for collateral-dependent loans) and estimated yield requirements of institutional investors for loans with similar characteristics, including remaining loan term, loan-to-value, type of collateral and other credit enhancements. The Company classifies these inputs as Level 3 inputs.
	Notes payable: The fair values of the Company’s notes payable are estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of a liability in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs.
	The following were the face values, carrying amounts and fair values of the Company’s real estate loans receivable and notes payable as of September 30, 2014 and December 31, 2013, which carrying amounts generally do not approximate the fair values (in thousands):
		September 30, 2014						December 31, 2013
		Face Value		Carrying		Fair Value		Face Value		Carrying		Fair Value
				Amount						Amount
	Financial assets:
	Real estate loans receivable (1)	$	36,009	$	28,727	$	25,290	$	35,814	$	29,768	$	25,754
	Financial liabilities:
	Notes payable	$	703,951	$	696,812	$	725,849	$	976,493	$	962,282	$	965,463
	_____________________
	(1) Carrying amount of real estate loans receivable includes loan loss reserves.
	Disclosure of the fair values of financial instruments is based on pertinent information available to the Company as of the period end and requires a significant amount of judgment. The actual value of these investments could be materially different from the Company’s estimate of value.
	Assets Recorded at Fair Value
	As of September 30, 2014, the Company measured the following assets at fair value on a nonrecurring basis (in thousands):
				Fair Value Measurements Using
		Total		Quoted Prices in		Significant Other		Significant
				Active Markets for		Observable Inputs		Unobservable
				Identical Assets		(Level 2)		Inputs
				(Level 1)				(Level 3)
	Nonrecurring Basis:
	Impaired real estate - continuing operations	$	139,260	$	—	$	—	$	139,260
	Impaired real estate - discontinued operations	$	653	$	—	$	—	$	653
	As of September 30, 2014, three of the Company’s real estate properties held for investment were measured at estimated fair value as these properties were impaired and the carrying values of the properties were adjusted to estimated fair values. The Company estimated the fair value for two of its impaired real estate properties held for investment by performing a 10-year discounted cash flow analysis. The range of the terminal capitalization rates used to estimate the fair values for these two properties was 6.25% to 8.00%. The Company estimated the fair value for the other impaired real estate property held for investment by performing a direct capitalization analysis. The estimated terminal capitalization rate used to estimate the fair value for this property was 8.25%.
	As of September 30, 2014, two of the Company’s real estate properties held for sale were measured at estimated fair value as these properties were impaired and the carrying values of the properties were adjusted to estimated fair value. The Company estimated the fair value for one impaired real estate property held for sale based on an actual sales price, less costs to sell. The Company estimated the fair value for the other impaired real estate property held for sale by performing a direct capitalization analysis. The estimated terminal capitalization rate used to estimate the fair value of this property was 10.25%.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	RELATED PARTY TRANSACTIONS
	The Company has entered into an Advisory Agreement with the Advisor and a Dealer Manager Agreement with the Dealer Manager. These agreements entitled the Advisor and/or the Dealer Manager to specified fees upon the provision of certain services with regard to the Offering and entitled the Advisor and Dealer Manager to reimbursement of organization and offering costs that were incurred by the Advisor and the Dealer Manager on behalf of the Company in connection with the Company’s now terminated Offering. In addition, the Advisory Agreement entitles the Advisor to specified fees for the management and disposition of investments, among other services, as well as to reimbursement for certain costs incurred by the Advisor in providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. The Company has also entered into a fee reimbursement agreement (the “AIP Reimbursement Agreement”) with the Dealer Manager pursuant to which the Company agreed to reimburse the Dealer Manager for certain fees and expenses it incurs for administering the Company’s participation in the DTCC Alternative Investment Product Platform with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor also serves, and the Dealer Manager also serves or served, as the advisor and dealer manager, respectively, for KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc. and KBS Strategic Opportunity REIT II, Inc.
	On January 6, 2014, the Company, together with KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc., KBS Strategic Opportunity REIT II, Inc., the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the program, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance.
	During the nine months ended September 30, 2014 and 2013, no other business transactions occurred between the Company and the other KBS-sponsored programs. On May 18, 2012, KBS Strategic Opportunity REIT, Inc. made an $8.0 million investment in a joint venture in which the Company indirectly owns a participation interest through another joint venture investment.
	Pursuant to the terms of the Advisory Agreement and the AIP Reimbursement Agreement, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2014 and 2013, respectively, and any related amounts payable as of September 30, 2014 and December 31, 2013 (in thousands):
		Incurred								Payable
		Three Months Ended September 30,				Nine Months Ended September 30,				September 30,		December 31,
		2014		2013		2014		2013		2014		2013
	Expensed
	Asset management fees(1)	$	2,473	$	2,794	$	7,520	$	8,285	$	—	$	—
	Reimbursement of operating expenses(2)	53		44		156		102		—		—
	Disposition fees(3)	—		—		775		2,500		—		—
		$	2,526	$	2,838	$	8,451	$	10,887	$	—	$	—
	_____________________
	(1) Amounts include asset management fees from discontinued operations totaling $0.2 million for the three months ended September 30, 2013 and $17,000 and $0.7 million for the nine months ended September 30, 2014 and 2013, respectively.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $53,000 and $44,000 for the three months ended September 30, 2014 and 2013, respectively, and $0.2 million and $0.1 million for the nine months ended September 30, 2014 and 2013, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the nine months ended September 30, 2014 and 2013. The Company will not reimburse for employee costs in connection with services for which the Advisor earns disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Disposition fees with respect to real estate sold are included in the gain (loss) on sales of real estate in the accompanying consolidated statements of operations. Also see Note 8, “Foreclosed Real Estate Held for Sale” with respect to disposition fees on foreclosed real estate held for sale.

SUPPLEMENTAL_CASH_FLOW_AND_SIG

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	9 Months Ended
	Sep. 30, 2014
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]	'
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	'
	SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES
	Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands):
		For the Nine Months Ended September 30,
		2014		2013
	Supplemental Disclosure of Cash Flow Information:
	Interest paid	$	37,015	$	43,421
	Supplemental Disclosure of Significant Noncash Transactions:
	Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure	$	54,028	$	209,057
	Increase in distributions payable	$	4,712	$	—
	Increase in capital expenses payable	$	3,759	$	215
	Increase in lease commissions payable	$	1,219	$	—

SEGMENT_INFORMATION

SEGMENT INFORMATION	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
SEGMENT INFORMATION	'
	SEGMENT INFORMATION
	The Company presently operates in three business segments based on its investment types: real estate, real estate-related and commercial properties primarily leased to financial institutions received under the Settlement Agreement, or the GKK Properties. Under the real estate segment, the Company has invested primarily in office and industrial properties located throughout the United States. The real estate segment excludes all real estate properties that were classified as discontinued operations as of September 30, 2014. Under the real estate-related segment, the Company has invested in or originated mortgage loans, mezzanine loans and other real estate-related assets, including real estate securities and preferred membership interest investments. The GKK Properties segment consists of primarily office properties, bank branch properties, operations centers and other properties located in 30 states but excludes GKK Properties that were classified as discontinued operations as of September 30, 2014. All revenues earned from the Company’s three reporting segments were from external customers and there were no intersegment sales or transfers. The Company does not allocate corporate-level accounts to its reporting segments. Corporate-level accounts include corporate general and administrative expenses, non-operating interest income and other corporate-level expenses. The accounting policies of the reporting segments are consistent with those described in Note 2, “Summary of Significant Accounting Policies.”
	The Company evaluates the performance of its segments based upon net operating income from continuing operations (“NOI”), which is a non-GAAP supplemental financial measure. The Company defines NOI for its real estate segment and the GKK Properties segment as operating revenues (rental income, tenant reimbursements and other operating income) less property and related expenses (property operating expenses, real estate taxes, insurance, asset management fees and provision for bad debt) less interest expense. The Company defines NOI for its real estate-related segment as interest income and income from its unconsolidated joint venture investment less loan servicing costs (if applicable), asset management fees and interest expense (if applicable). NOI excludes certain items that are not considered to be controllable in connection with the management of an asset such as non-property income and expenses, depreciation and amortization, and corporate general and administrative expenses. The Company uses NOI to evaluate the operating performance of the Company’s real estate investments, real estate-related investments and the GKK Properties and to make decisions about resource allocations. The Company believes that net income is the GAAP measure that is most directly comparable to NOI; however, NOI should not be considered as an alternative to net income as the primary indicator of operating performance as it excludes the items described above. Additionally, NOI as defined above may not be comparable to other REITs or companies as their definitions of NOI may differ from the Company’s definition.
	The following tables summarize total revenues, interest expense and NOI for each reportable segment for the three and nine months ended September 30, 2014 and 2013, and total assets and total liabilities for each reportable segment as of September 30, 2014 and December 31, 2013 (in thousands):
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenues:
	Real estate segment (1)	$	17,343		$	18,902		$	54,496		$	57,009
	Real estate-related segment	728			824			2,343			2,445
	GKK Properties segment	34,759			34,335			104,349			104,430
	Total revenues	$	52,830		$	54,061		$	161,188		$	163,884
	Interest expense:
	Real estate segment (1)	$	2,158		$	4,466		$	7,445		$	13,604
	Real estate-related segment	—			—			—			—
	GKK Properties segment	7,836			11,397			29,130			32,601
	Total interest expense	$	9,994		$	15,863		$	36,575		$	46,205
	NOI:
	Real estate segment (1)	$	5,414		$	4,657		$	18,122		$	13,847
	Real estate-related segment	674			770			2,050			2,286
	GKK Properties segment	7,537			2,815			13,172			9,307
	Total NOI	$	13,625		$	8,242		$	33,344		$	25,440
		As of September 30,			As of December 31,
		2014			2013
	Assets:
	Real estate segment	$	568,708		$	580,472
	Real estate-related segment	28,889			38,333
	GKK Properties segment	731,637			814,798
	Total segment assets	1,329,234			1,433,603
	Real estate held for sale	20,659			105,119
	Foreclosed real estate held for sale	19,390			19,064
	Corporate-level (2)	70,893			187,111
	Total assets	$	1,440,176		$	1,744,897
	Liabilities:
	Real estate segment	$	254,768		$	339,512
	Real estate-related segment	19			3
	GKK Properties segment	542,595			691,964
	Total segment liabilities	797,382			1,031,479
	Real estate held for sale	7,692			56,184
	Corporate-level	5,972			1,341
	Total liabilities	$	811,046		$	1,089,004
	_____________________
	(1) Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.
	(2) Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $70.1 million and $186.7 million as of September 30, 2014 and December 31, 2013, respectively.
	The following table reconciles the Company’s net loss to its NOI for the three and nine months ended September 30, 2014 and 2013 (amounts in thousands):
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013
	Net loss	$	(249	)	$	(14,915	)	$	(12,417	)	$	(44,547	)
	Gain on sales of real estate	—			—			(2,041		)	—
	Gain on sales of real estate securities	—			(2,626		)	(4,410		)	(2,793		)
	Gain from extinguishment of debt	(16,216		)	—			(21,328		)	—
	Gain on sale of foreclosed real estate held for sale	—			—			—			(161		)
	Other income and interest income	(145		)	(126		)	(807		)	(494		)
	General and administrative expenses	3,582			4,094			10,910			12,609
	Depreciation and amortization	19,274			19,049			55,158			57,582
	Impairment charge on real estate held for investment	7,732			1,840			9,928			32,225
	Provision for loan losses	—			—			1,973			—
	Total income (loss) from discontinued operations	(353		)	926			(3,622		)	(28,981		)
	NOI (1)	$	13,625		$	8,242		$	33,344		$	25,440
	_____________________
	(1) Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	Lease Obligations
	Pursuant to the Settlement Agreement, the Company indirectly received leasehold interests in certain commercial properties, pursuant to leases between the owner of the property, as landlord, and the Company, as tenant. The ground leases have expiration dates between 2017 and 2101 and the building leases have expiration dates between the remainder of 2014 and 2085. These lease obligations generally contain rent increases and renewal options. In certain instances, the rent owed by the Company to the owner of the property under the lease is greater than the revenue received by the Company from the tenants occupying the property.
	Future minimum lease payments owed by the Company under non-cancelable operating building and ground leases as of September 30, 2014 were as follows (in thousands):
	October 1, 2014 through December 31, 2014	$	4,715
	2015	17,151
	2016	16,645
	2017	12,696
	2018	2,580
	Thereafter	34,478
		$	88,265
	Economic Dependency
	The Company is dependent on the Advisor for certain services that are essential to the Company, including the management of the Company’s real estate and real estate-related investment portfolio; the disposition of real estate and real estate-related investments; and other general and administrative responsibilities. In the event that the Advisor is unable to provide any of these services, the Company will be required to obtain such services from other sources. The Company is also dependent on the Property Manager for the Services under the Amended Services Agreement, including the operations, leasing and eventual dispositions of the GKK Properties.
	Environmental
	As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities.
	Under the Settlement Agreement, the Company indirectly took title to or, with respect to a limited number of the GKK Properties, indirectly took a leasehold interest in, the GKK Properties on an “as is” basis. As such, the Company was not able to inspect the GKK Properties or conduct standard due diligence on certain of the GKK Properties before the transfers of the properties. Additionally, the Company did not receive representations, warranties and indemnities relating to the GKK Properties from Gramercy and/or its affiliates. Thus, the value of the GKK Properties may decline if the Company subsequently discovers environmental problems with the GKK Properties.
	Legal Matters
	From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings the outcome of which is probable or reasonably possible to have a material adverse effect on the Company’s results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2014
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	The Company evaluates subsequent events up until the date the consolidated financial statements are issued.
	Distribution Paid
	On October 30, 2014, the Company paid distributions of $4.7 million, which related to a distribution declared by the Company’s board of directors in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on September 30, 2014.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2014
Accounting Policies [Abstract]	'
Principles of Consolidation and Basis of Presentation	'
	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and nine months ended September 30, 2014 are not necessarily indicative of the results that may be expected for the year ending December 31, 2014.
	The consolidated financial statements include the accounts of the Company, KBS REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	'
	The preparation of the consolidated financial statements and condensed notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	'
	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. The Company early adopted ASU No. 2014-08 (defined below) for the reporting period beginning January 1, 2014. As a result, certain reclassifications were made to the consolidated balance sheets, statements of operations and footnote disclosures for all applicable periods presented to reflect properties sold or held for sale during the period ended September 30, 2014. Properties that were classified as held for sale in financial statements prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statements of operations. Properties that were disposed of or classified as held for sale in the ordinary course of business during the nine months ended September 30, 2014 that had not been classified as held for sale in financial statements prior to January 1, 2014 are included in continuing operations on the Company’s consolidated statements of operations.
Per Share Data	'
	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three and nine months ended September 30, 2014 and 2013, respectively.
	Distributions declared per share of common stock were $0.025 and $0.025 for the three and nine months ended September 30, 2014, respectively. On September 30, 2014, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on September 30, 2014. No distributions were declared during the three and nine months ended September 30, 2013.
Segments	'
	The Company’s segments are based on the Company’s method of internal reporting, which classifies its operations by investment type: (i) real estate, (ii) real estate-related and (iii) commercial properties primarily leased to financial institutions received under the Settlement Agreement, the GKK Properties.
Recently Issued Accounting Standards Update	'
	In April 2014, the FASB issued ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360):  Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”).  ASU No. 2014-08 limits discontinued operations reporting to disposals of components of an entity that represents a strategic shift that has (or will have) a major effect on an entity’s operations and financial results when any of the following occurs: a) the component of an entity or group of components of an entity meets the criteria to be classified as held for sale; b) the component of an entity or group of components of an entity is disposed of by sale; and c) the component of an entity or group of components of an entity is disposed of other than by sale.  ASU No. 2014-08 also requires additional disclosures about discontinued operations.  ASU No. 2014-08 is effective for reporting periods beginning after December 15, 2014.  Early adoption is permitted, but only for disposals (or classifications as held for sale) that have not been reported in financial statements previously issued or available for issuance. The Company early adopted ASU No. 2014-08 for the reporting period beginning January 1, 2014.  As a result of the adoption of ASU No. 2014-08, results of operations for properties that are classified as held for sale in the ordinary course of business on or subsequent to January 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations, to the extent such disposals did not meet the criteria for classification as a discontinued operation described above. Additionally, any gain or loss on sale of real estate that does not meet the criteria for classification as a discontinued operation would be included in income from continuing operations on the consolidated statements of operations.
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  The Company does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU 2014-15 to have a significant impact on its financial statements.

REAL_ESTATE_HELD_FOR_INVESTMEN1

REAL ESTATE HELD FOR INVESTMENT (Tables)	9 Months Ended
	Sep. 30, 2014
Guarantor by Name [Line Items]	'
Schedule of Real Estate Investments	'
	The following table summarizes the Company’s investments in real estate as of September 30, 2014 and December 31, 2013 (in thousands):
			Land				Buildings and				Tenant				Total Real Estate
							Improvements				Origination and				Held for
											Absorption Costs				Investment
	As of September 30, 2014:
	Office		$	71,491			$	416,172			$	1,833			$	489,496
	Industrial		16,788				80,497				3,137				100,422
	GKK Properties		195,672				418,265				89,673				703,610
	Real estate held for investment, at cost and net of impairment charges (1)		283,951				914,934				94,643				1,293,528
	Accumulated depreciation/amortization		—				(144,885		)		(39,666		)		(184,551		)
	Real estate held for investment, net		$	283,951			$	770,049			$	54,977			$	1,108,977
	As of December 31, 2013:
	Office		$	73,480			$	418,921			$	5,515			$	497,916
	Industrial		16,788				82,816				5,220				104,824
	GKK Properties		202,944				444,849				96,763				744,556
	Real estate held for investment, at cost and net of impairment charges		293,212				946,586				107,498				1,347,296
	Accumulated depreciation/amortization		—				(128,926		)		(38,870		)		(167,796		)
	Real estate held for investment, net		$	293,212			$	817,660			$	68,628			$	1,179,500
	_____________________
	(1) See “—Impairment of Real Estate.”
Schedule of Future Minimum Rental Income Under Non-cancelable Operating Leases	'
	The future minimum rental income from the Company’s properties under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of September 30, 2014 for the years ending December 31 is as follows (in thousands):
	October 1, 2014 through December 31, 2014	$	31,463
	2015	126,397
	2016	123,300
	2017	113,135
	2018	99,519
	Thereafter	301,017
		$	794,831
Schedules of Concentration of Risk, by Risk Factor	'
	As of September 30, 2014, the Company had a concentration of credit risk related to leases with the following tenant that represented more than 10% of the Company’s annualized base rent:
												Annualized Base Rent Statistics
	Tenant		Property		Tenant		Rentable Square Feet		% of			Annualized Base Rent (1)				% of Portfolio Annualized Base Rent		Annualized Base Rent per Square Foot		Lease Expirations
					Industry				Portfolio Rentable Square Feet			(in thousands)
	Bank of America, N.A.		Various		Finance		3,093,593		30.4	%		$	27,465			20.7	%	$	8.88	(2)
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	(2) As of September 30, 2014, lease expiration dates ranged from 2015 through 2026 with a weighted-average remaining term of 5.6 years. Additionally, as of September 30, 2014, certain of Bank of America’s leases contained shedding right provisions. These shedding rights totaled approximately 0.3 million square feet and can be exercised at various dates from 2015 through 2016.
	As of September 30, 2014, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
	Industry		Number of		Annualized				Percentage of
			Tenants		Base Rent (1)				Annualized Base Rent
					(in thousands)
	Finance		67		$	61,925			46.6	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
Bank of America Corporation [Member]	'
Guarantor by Name [Line Items]	'
Schedule of Condensed Consolidated Information	'
	Bank of America Corporation is the guarantor of various leases that its subsidiary, Bank of America, N.A., has with the Company. The condensed consolidated financial information of Bank of America Corporation has been included herein because of the significant credit concentration the Company has with this guarantor. Bank of America Corporation currently files its financial statements in reports filed with the SEC, and the following unaudited summary financial data regarding Bank of America Corporation is taken from its previously filed public reports. For more detailed financial information regarding Bank of America Corporation, please refer to its financial statements, which are publicly available with the SEC at http:// www.sec.gov.
		Three Months Ended September 30,								Nine Months Ended September 30,
		2014				2013				2014				2013
	Consolidated Statements of Income (in millions)
	Total revenue, net of interest expense	$	21,209			$	21,530			$	65,522			$	67,454
	Income before income taxes	431				4,845				2,545				12,327
	Net income (loss)	(232		)		2,497				1,783				7,992
		As of
		September 30, 2014				December 31, 2013
	Consolidated Balance Sheets (in millions)
	Total assets	$	2,123,613			$	2,102,273
	Total liabilities	1,884,932				1,869,588
	Total stockholders’ equity	238,681				232,685

TENANT_ORIGINATION_AND_ABSORPT1

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	'
	As of September 30, 2014 and December 31, 2013, the Company’s tenant origination and absorption costs, above-market lease assets, and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013			September 30, 2014			December 31, 2013
	Cost, net of impairments	$	94,643		$	107,498		$	34,362		$	36,586		$	(77,477	)	$	(83,869	)
	Accumulated amortization	(39,667		)	(38,870		)	(10,736		)	(9,670		)	33,763			30,011
	Net Amount	$	54,976		$	68,628		$	23,626		$	26,916		$	(43,714	)	$	(53,858	)
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	'
	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2014 and 2013 were as follows (in thousands):
		Tenant Origination  and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Three Months Ended September 30,						For the Three Months Ended September 30,						For the Three Months Ended September 30,
		2014			2013			2014			2013			2014			2013
	Amortization	$	(4,983	)	$	(4,685	)	$	(922	)	$	(1,080	)	$	3,662		$	3,220
		Tenant Origination  and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Nine Months Ended September 30,						For the Nine Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013			2014			2013
	Amortization	$	(12,809	)	$	(14,426	)	$	(2,931	)	$	(3,376	)	$	9,777		$	9,895

REAL_ESTATE_LOANS_RECEIVABLE_T

REAL ESTATE LOANS RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2014
Receivables [Abstract]	'
Schedule of Real Estate Loans Receivable	'
	As of September 30, 2014 and December 31, 2013, the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands):
	Loan Name		Date		Property		Loan	Outstanding				Book Value			Book Value			Contractual	Annualized		Maturity
	Location of Related Property or Collateral		Acquired/		Type		Type	Principal				as of			as of			Interest	Effective		Date
			Originated					Balance as of				September 30,			December 31,			Rate (3)	Interest
								September 30,				2014 (2)			2013 (2)				Rate (3)
								2014 (1)
	Sandmar Mezzanine Loan		1/9/07		Retail		Mezzanine	$	5,261			$	5,282		$	5,025		5.40%	5.2	%	1/1/17
	Southeast U.S. (4)
	Lawrence Village Plaza Loan Origination		8/6/07		Retail		Mortgage	6,849				6,849			6,878			8.00%	8.1	%	9/1/15
	New Castle, Pennsylvania (5)
	San Diego Office Portfolio B-Note		10/26/07		Office		B-Note	20,000				17,256			16,710			5.80%	11.2	%	10/11/17
	San Diego, California (6)
	4929 Wilshire B-Note		11/19/07		Office		B-Note	3,899				3,334			3,245			6.10%	12.4	%	7/11/17
	Los Angeles, California
								$	36,009			$	32,721		$	31,858
	Reserve for Loan Losses (7)							—				(3,994		)	(2,090		)
								$	36,009			$	28,727		$	29,768
	_____________________
	(1) Outstanding principal balance as of September 30, 2014 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
	(2) Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
	(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2014, using the interest method, divided by the average amortized cost basis of the investment during 2014. The contractual interest rates and annualized effective interest rates presented are as of September 30, 2014.
	(4) The Company had recorded an asset-specific loan loss reserve against this investment as of September 30, 2014. See “—Reserve for Loan Losses.”
	(5) On August 29, 2014, the Company and the borrower under the Lawrence Village Plaza Loan Origination entered into a loan modification under which the maturity date was extended to September 1, 2015.
	(6) The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the nine months ended September 30, 2014, the Company recognized $1.4 million of interest income related to its investment in this loan.
	(7) See “—Reserve for Loan Losses.”
Schedule of Activity Related to Real Estate Loans Receivable	'
	The following summarizes the activity related to real estate loans receivable for the nine months ended September 30, 2014 (in thousands):
	Real estate loans receivable, net - December 31, 2013	$	29,768
	Deferred interest	279
	Principal repayments received on real estate loan receivable	(84		)
	Accretion of discounts on purchased real estate loans receivable	761
	Amortization of origination fees and costs on purchased and originated real estate loans receivable	(24		)
	Change in loan loss reserve	(1,973		)
	Real estate loans receivable, net - September 30, 2014	$	28,727
Schedule of Interest Income from Real Estate Loans Receivable	'
	For the three and nine months ended September 30, 2014 and 2013, interest income from real estate loans receivable consisted of the following (in thousands):
		Three Months Ended September 30,							Nine Months Ended September 30,
		2014				2013			2014				2013
	Contractual interest income	$	495			$	600		$	1,606			$	1,780
	Interest accretion	239				215			761				620
	Amortization of origination fees and costs and acquisition costs, net	(6		)		9			(24		)		45
	Interest income from real estate loans receivable	$	728			$	824		$	2,343			$	2,445
Schedule of Changes in Reserve for Loan Losses	'
	Changes in the Company’s reserve for loan losses for the nine months ended September 30, 2014 were as follows (in thousands):
	Reserve for loan losses, December 31, 2013	$	2,090
	Provision for loan losses	1,973
	Reduction to reserve for loan losses	(69		)
	Reserve for loan losses, September 30, 2014	$	3,994

REAL_ESTATE_SECURITIES_Tables

REAL ESTATE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Summary of Activities of Real Estate Securities	'
	The following summarizes the activity related to real estate securities for the nine months ended September 30, 2014 (in thousands):
		Amortized			Unrealized			Total
		Cost Basis			Gains (Losses)
	Real estate securities - December 31, 2013	$	3,421		$	4,552		$	7,973
	Unrealized change in market value of real estate securities	—			(100		)	(100		)
	Sale of real estate securities	(3,421		)	(4,452		)	(7,873		)
	Real estate securities - September 30, 2014	$	—		$	—		$	—

REAL_ESTATE_HELD_FOR_SALE_AND_1

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale	'
	The following summary presents the major components of real estate held for sale and liabilities related to real estate held for sale as of September 30, 2014 and December 31, 2013 (in thousands):
		September 30, 2014			December 31, 2013
	Assets related to real estate held for sale
	Total real estate, at cost and net of impairment charges	$	22,042		$	113,542
	Accumulated depreciation and amortization	(2,493		)	(14,243		)
	Real estate held for sale, net	19,549			99,299
	Other assets	1,110			5,820
	Total assets related to real estate held for sale	$	20,659		$	105,119
	Liabilities related to real estate held for sale
	Notes payable	5,700			53,300
	Other liabilities	1,992			2,884
	Total liabilities related to real estate held for sale	$	7,692		$	56,184
Schedule of Revenue and Expenses Related to Real Estate Properties	'
	The following table summarizes certain revenue and expenses related to these properties for the three and nine months ended September 30, 2014 and 2013 (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenues
	Rental income	$	1,072		$	3,667		$	7,335		$	10,949
	Tenant reimbursements and other operating income	262			701			1,747			2,206
	Total Revenues	1,334			4,368			9,082			13,155
	Expenses
	Operating, maintenance, and management	390			1,330			2,393			4,243
	Real estate taxes and insurance	206			637			1,604			1,954
	Asset management fees to affiliate	34			132			292			390
	General and administrative expenses	19			3			42			12
	Depreciation and amortization	112			1,194			2,204			3,367
	Interest expense	649			1,926			4,445			5,423
	Impairment of real estate	—			—			2,196			873
	Total expenses	1,410			5,222			13,176			16,262
Schedule of Operating Income from Discontinued Operations	'
	The following table summarizes operating income (loss) from discontinued operations for the three and nine months ended September 30, 2014 and 2013 (in thousands):
		Three Months Ended September 30,						Nine Months Ended September 30,
		2014			2013			2014			2013
	Total revenues and other income	$	532		$	4,463		$	1,528		$	22,639
	Total expenses	3			4,828			655			21,023
	Income (loss) from discontinued operations before gain on sales of real estate, net and impairment charge	529			(365		)	873			1,616
	Gain on sales of real estate, net	—			858			3,006			31,931
	Impairment charge	(176		)	(1,419		)	(257		)	(4,566		)
	Income (loss) from discontinued operations	$	353		$	(926	)	$	3,622		$	28,981

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2014
Notes Payable [Abstract]	'
Schedule of Long-term Debt Instruments	'
	As of September 30, 2014 and December 31, 2013, the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands):
	Loan Type		Book Value as of			Book Value as of			Contractual	Weighted-Average	Weighted-Average
			September 30, 2014			December 31, 2013			Interest Rates as of	Interest Rates as of	Remaining Term
									September 30, 2014 (1)	September 30, 2014 (1)	in Years (2)
	Fixed Rate
	Mortgage loans		$	62,200		$	165,399		5.90%	5.90%	2
	GKK Properties mortgage loans		420,502			600,694			5.1% - 6.8%	5.80%	3.9
			482,702			766,093
	Variable Rate
	Mortgage loans		181,249			210,400			One-month LIBOR + 1.80%	2.00%	1.3
	GKK Properties mortgage loans		40,000			—			One-month LIBOR + 3.00%	3.20%	2.7
			221,249			210,400
	Total notes payable principal outstanding		703,951			976,493
	Discount on notes payable, net (3)		(7,139		)	(14,211		)
	Total notes payable, net		$	696,812		$	962,282
	_____________________
	(1) Contractual interest rates as of September 30, 2014 represent the range of interest rates in effect under these loans as of September 30, 2014. Weighted-average interest rates as of September 30, 2014 are calculated as the actual interest rates in effect under these loans as of September 30, 2014 (consisting of the contractual interest rates), using interest rate indices as of September 30, 2014, where applicable.
	(2) Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of September 30, 2014; subject to certain conditions, the maturity dates of certain loans may be further extended.
	(3) Represents the unamortized discount and premium on notes payable due to the above- and below-market interest rates when the loans were assumed. The discount and premium are amortized over the remaining life of the respective loan.
Schedule of Maturities of Long-term Debt	'
	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of September 30, 2014 (in thousands):
	October 1, 2014 through December 31, 2014	$	4,159
	2015	50,654
	2016	321,758
	2017	159,175
	2018	8,651
	Thereafter	159,554
		$	703,951
Schedule of Activity Related to Notes Payable and Repurchase Agreements	'
	The following summarizes the activity related to notes payable for the nine months ended September 30, 2014 (in thousands):
	Total notes payable, net  - December 31, 2013	$	962,282
	Proceeds from notes payable	42,500
	Deferred interest payable	637
	Extinguishment of debt - discounted payoff agreement	(26,825		)
	Extinguishment of debt - foreclosure or deed-in-lieu of foreclosure	(54,037		)
	Principal repayments	(230,508		)
	Amortization of discount and premium on notes payable, net	2,763
	Total notes payable, net  - September 30, 2014	$	696,812

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2014
Fair Value Disclosures [Abstract]	'
Schedule of Face Value, Carrying Amounts and Fair Value	'
	The following were the face values, carrying amounts and fair values of the Company’s real estate loans receivable and notes payable as of September 30, 2014 and December 31, 2013, which carrying amounts generally do not approximate the fair values (in thousands):
		September 30, 2014						December 31, 2013
		Face Value		Carrying		Fair Value		Face Value		Carrying		Fair Value
				Amount						Amount
	Financial assets:
	Real estate loans receivable (1)	$	36,009	$	28,727	$	25,290	$	35,814	$	29,768	$	25,754
	Financial liabilities:
	Notes payable	$	703,951	$	696,812	$	725,849	$	976,493	$	962,282	$	965,463
	_____________________
	(1) Carrying amount of real estate loans receivable includes loan loss reserves.
Schedule of Assets and Liabilities at Fair Value	'
	As of September 30, 2014, the Company measured the following assets at fair value on a nonrecurring basis (in thousands):
				Fair Value Measurements Using
		Total		Quoted Prices in		Significant Other		Significant
				Active Markets for		Observable Inputs		Unobservable
				Identical Assets		(Level 2)		Inputs
				(Level 1)				(Level 3)
	Nonrecurring Basis:
	Impaired real estate - continuing operations	$	139,260	$	—	$	—	$	139,260
	Impaired real estate - discontinued operations	$	653	$	—	$	—	$	653

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of Related Party Costs	'
	Pursuant to the terms of the Advisory Agreement and the AIP Reimbursement Agreement, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2014 and 2013, respectively, and any related amounts payable as of September 30, 2014 and December 31, 2013 (in thousands):
		Incurred								Payable
		Three Months Ended September 30,				Nine Months Ended September 30,				September 30,		December 31,
		2014		2013		2014		2013		2014		2013
	Expensed
	Asset management fees(1)	$	2,473	$	2,794	$	7,520	$	8,285	$	—	$	—
	Reimbursement of operating expenses(2)	53		44		156		102		—		—
	Disposition fees(3)	—		—		775		2,500		—		—
		$	2,526	$	2,838	$	8,451	$	10,887	$	—	$	—
	_____________________
	(1) Amounts include asset management fees from discontinued operations totaling $0.2 million for the three months ended September 30, 2013 and $17,000 and $0.7 million for the nine months ended September 30, 2014 and 2013, respectively.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $53,000 and $44,000 for the three months ended September 30, 2014 and 2013, respectively, and $0.2 million and $0.1 million for the nine months ended September 30, 2014 and 2013, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the nine months ended September 30, 2014 and 2013. The Company will not reimburse for employee costs in connection with services for which the Advisor earns disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Disposition fees with respect to real estate sold are included in the gain (loss) on sales of real estate in the accompanying consolidated statements of operations. Also see Note 8, “Foreclosed Real Estate Held for Sale” with respect to disposition fees on foreclosed real estate held for sale.

SUPPLEMENTAL_CASH_FLOW_AND_SIG1

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2014
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]	'
Schedule of Cash Flow, Supplemental Disclosures	'
	Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands):
		For the Nine Months Ended September 30,
		2014		2013
	Supplemental Disclosure of Cash Flow Information:
	Interest paid	$	37,015	$	43,421
	Supplemental Disclosure of Significant Noncash Transactions:
	Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure	$	54,028	$	209,057
	Increase in distributions payable	$	4,712	$	—
	Increase in capital expenses payable	$	3,759	$	215
	Increase in lease commissions payable	$	1,219	$	—

SEGMENT_INFORMATION_Tables

SEGMENT INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment	'
	The following tables summarize total revenues, interest expense and NOI for each reportable segment for the three and nine months ended September 30, 2014 and 2013, and total assets and total liabilities for each reportable segment as of September 30, 2014 and December 31, 2013 (in thousands):
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013
	Revenues:
	Real estate segment (1)	$	17,343		$	18,902		$	54,496		$	57,009
	Real estate-related segment	728			824			2,343			2,445
	GKK Properties segment	34,759			34,335			104,349			104,430
	Total revenues	$	52,830		$	54,061		$	161,188		$	163,884
	Interest expense:
	Real estate segment (1)	$	2,158		$	4,466		$	7,445		$	13,604
	Real estate-related segment	—			—			—			—
	GKK Properties segment	7,836			11,397			29,130			32,601
	Total interest expense	$	9,994		$	15,863		$	36,575		$	46,205
	NOI:
	Real estate segment (1)	$	5,414		$	4,657		$	18,122		$	13,847
	Real estate-related segment	674			770			2,050			2,286
	GKK Properties segment	7,537			2,815			13,172			9,307
	Total NOI	$	13,625		$	8,242		$	33,344		$	25,440
		As of September 30,			As of December 31,
		2014			2013
	Assets:
	Real estate segment	$	568,708		$	580,472
	Real estate-related segment	28,889			38,333
	GKK Properties segment	731,637			814,798
	Total segment assets	1,329,234			1,433,603
	Real estate held for sale	20,659			105,119
	Foreclosed real estate held for sale	19,390			19,064
	Corporate-level (2)	70,893			187,111
	Total assets	$	1,440,176		$	1,744,897
	Liabilities:
	Real estate segment	$	254,768		$	339,512
	Real estate-related segment	19			3
	GKK Properties segment	542,595			691,964
	Total segment liabilities	797,382			1,031,479
	Real estate held for sale	7,692			56,184
	Corporate-level	5,972			1,341
	Total liabilities	$	811,046		$	1,089,004
	_____________________
	(1) Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.
	(2) Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $70.1 million and $186.7 million as of September 30, 2014 and December 31, 2013, respectively.
Reconciliation of Net Income (Loss) to Net Operating Income (Loss)	'
	The following table reconciles the Company’s net loss to its NOI for the three and nine months ended September 30, 2014 and 2013 (amounts in thousands):
		For the Three Months Ended September 30,						For the Nine Months Ended September 30,
		2014			2013			2014			2013
	Net loss	$	(249	)	$	(14,915	)	$	(12,417	)	$	(44,547	)
	Gain on sales of real estate	—			—			(2,041		)	—
	Gain on sales of real estate securities	—			(2,626		)	(4,410		)	(2,793		)
	Gain from extinguishment of debt	(16,216		)	—			(21,328		)	—
	Gain on sale of foreclosed real estate held for sale	—			—			—			(161		)
	Other income and interest income	(145		)	(126		)	(807		)	(494		)
	General and administrative expenses	3,582			4,094			10,910			12,609
	Depreciation and amortization	19,274			19,049			55,158			57,582
	Impairment charge on real estate held for investment	7,732			1,840			9,928			32,225
	Provision for loan losses	—			—			1,973			—
	Total income (loss) from discontinued operations	(353		)	926			(3,622		)	(28,981		)
	NOI (1)	$	13,625		$	8,242		$	33,344		$	25,440
	_____________________
	(1) Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.

COMMITMENTS_AND_CONTINGENCIES_

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2014
Commitments and Contingencies Disclosure [Abstract]	'
Future Minimum Lease Payments, Non-Cancelable Operating Leases	'
	Future minimum lease payments owed by the Company under non-cancelable operating building and ground leases as of September 30, 2014 were as follows (in thousands):
	October 1, 2014 through December 31, 2014	$	4,715
	2015	17,151
	2016	16,645
	2017	12,696
	2018	2,580
	Thereafter	34,478
		$	88,265

ORGANIZATION_Details

ORGANIZATION (Details) (USD $)

9 Months Ended

12 Months Ended

9 Months Ended

12 Months Ended

28 Months Ended

80 Months Ended

104 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2014

Dec. 31, 2013

Sep. 30, 2014

Dec. 31, 2013

30-May-08

Sep. 30, 2012

Sep. 30, 2014

Sep. 30, 2014

Sep. 30, 2014

Dec. 19, 2013

Sep. 01, 2011

Dec. 19, 2013

Dec. 19, 2013

Sep. 01, 2011

Sep. 01, 2011

Units

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Common Stock [Member]

Condominium Units [Member]

KBS Capital Advisors LLC [Member]

GKK Properties [Member]

GKK Properties [Member]

GKK Properties [Member]

GKK Properties [Member]

GKK Properties [Member]

GKK Properties [Member]

property

Portfolios

Common Stock [Member]

property

Minimum [Member]

Maximum [Member]

Bank Branches [Member]

Office Building [Member]

property

property

Organizational Structure [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Partnership interest in the Operating Partnership and is its sole limited partner

99.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Partnership interest in Operating Partnership

1.00%

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of real estate properties

409

'

'

'

'

'

'

'

'

'

867

'

'

576

291

Number of real estate properties held for sale

8

'

'

'

'

'

'

3

'

'

'

'

'

'

'

Number of real estate loans receivable

4

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Number of units in condominium building

62

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Shares held by affiliate

'

'

'

'

'

'

'

'

20,000

'

'

'

'

'

'

Issuance of common stock, shares

'

'

'

'

171,109,494

'

'

'

'

'

'

'

'

'

'

Issuance of common stock, value

'

'

'

'

$1,700,000,000

'

'

'

'

'

'

'

'

'

'

Shares of common stock sold under dividend reinvestment plan, shares

'

'

'

'

'

28,306,086

'

'

'

'

'

'

'

'

'

Shares of common stock sold under dividend reinvestment plan, value

'

'

'

'

'

233,700,000

'

'

'

'

'

'

'

'

'

Redemptions of common stock, shares

'

'

1,142,042

1,444,315

'

'

10,960,921

'

'

'

'

'

'

'

'

Redemptions of common stock, value

5,082,000

7,384,000

11,000

15,000

'

'

82,600,000

'

'

'

'

'

'

'

'

Agreement for annual fee to be paid for real estate services, amount

'

'

'

'

'

'

'

'

'

$7,500,000

'

'

'

'

'

Profit participation interest based on a percentage rate of gross fair value of gross sale price

'

'

'

'

'

'

'

'

'

'

'

10.00%

30.00%

'

'

Amended service agreement, extension period

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

'

'

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Accounting Policies [Abstract]	'	'	'	'
Distributions declared per common share	$0.03	$0	$0.03	$0

REAL_ESTATE_HELD_FOR_INVESTMEN2

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details)	Sep. 30, 2014
	States
	sqft
Real Estate Properties [Line Items]	'
Rentable square feet	10,200,000
Percentage of real estate portfolio occupied	83.00%
Number of states in which entity operates	31
GKK Properties [Member]	'
Real Estate Properties [Line Items]	'
Rentable square feet	6,600,000
Percentage of real estate portfolio occupied	80.00%

REAL_ESTATE_HELD_FOR_INVESTMEN3

REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	$1,293,528	[1]	$1,347,296
Accumulated depreciation/amortization	-184,551		-167,796
Total real estate held for investment, net	1,108,977		1,179,500
Office [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	489,496		497,916
Industrial [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	100,422		104,824
GKK Properties [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	703,610		744,556
Land [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	283,951	[1]	293,212
Accumulated depreciation/amortization	0		0
Total real estate held for investment, net	283,951		293,212
Land [Member] | Office [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	71,491		73,480
Land [Member] | Industrial [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	16,788		16,788
Land [Member] | GKK Properties [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	195,672		202,944
Buildings and Improvements [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	914,934	[1]	946,586
Accumulated depreciation/amortization	-144,885		-128,926
Total real estate held for investment, net	770,049		817,660
Buildings and Improvements [Member] | Office [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	416,172		418,921
Buildings and Improvements [Member] | Industrial [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	80,497		82,816
Buildings and Improvements [Member] | GKK Properties [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	418,265		444,849
Tenant Origination and Absorption Costs [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	94,643	[1]	107,498
Accumulated depreciation/amortization	-39,666		-38,870
Total real estate held for investment, net	54,977		68,628
Tenant Origination and Absorption Costs [Member] | Office [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	1,833		5,515
Tenant Origination and Absorption Costs [Member] | Industrial [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	3,137		5,220
Tenant Origination and Absorption Costs [Member] | GKK Properties [Member]	'		'
Real Estate Properties [Line Items]	'		'
Real estate held for investment, at cost and net of impairment charges	$89,673		$96,763
[1]	See “—Impairment of Real Estate.

REAL_ESTATE_HELD_FOR_INVESTMEN4

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
	Tenants
Operating Leased Assets [Line Items]	'	'	'
Recognition of deferred revenue, net of discontinued operations	$2.50	$3.40	'
Amortization of lease incentives	1	0.9	'
Deferred rent receivables	30.3	'	27.8
Unamortized lease incentives	6.1	'	6
Number of tenants	400	'	'
Bad debt reserve	2.8	'	'
Provision of doubtful accounts, net of discontinued operations	1.4	0.8	'
Maximum [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'12 years 4 months 24 days	'	'
Weighted Average [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'5 years 2 months 12 days	'	'
GKK Properties [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Bad debt reserve	2.6	'	'
GKK Properties [Member] | Maximum [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'12 years 4 months 24 days	'	'
GKK Properties [Member] | Weighted Average [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'5 years 7 months 6 days	'	'
Other Liabilities [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Security deposit liability	$2.90	'	$3.20
Exercised at Various Dates (2015-2016) [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Net rentable area	300,000	'	'

REAL_ESTATE_HELD_FOR_INVESTMEN5

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Real Estate Held for Investment [Abstract]	'
October 1, 2014 through December 31, 2014	$31,463
2015	126,397
2016	123,300
2017	113,135
2018	99,519
Thereafter	301,017
Future minimum rental income	$794,831

REAL_ESTATE_HELD_FOR_INVESTMEN6

REAL ESTATE HELD FOR INVESTMENT (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
	Tenants
Concentration Risk [Line Items]	'
Number of Tenants	400
Industry - Finance [Member]	'
Concentration Risk [Line Items]	'
Number of Tenants	67
Annualized Base Rent	$61,925	[1]
Percentage of Annualized Base Rent	46.60%
[1]	Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

REAL_ESTATE_HELD_FOR_INVESTMEN7

REAL ESTATE HELD FOR INVESTMENT (Concentration of Credit Risk, Tenant Lease that Represents More than 10% of Annualized Base Rent) (Details) (USD $)	9 Months Ended
	Sep. 30, 2014
Exercised at Various Dates (2015-2016) [Member]	'
Concentration Risk [Line Items]	'
Rentable Square Feet	300,000
Weighted Average [Member]	'
Concentration Risk [Line Items]	'
Operating lease, term	'5 years 2 months 12 days
Tenant Lease - Bank of America, N.A. [Member]	'
Concentration Risk [Line Items]	'
Rentable Square Feet	3,093,593
Annualized Base Rent	27,465,000	[1]
Annualized Base Rent per Square Foot	8.88
Tenant Lease - Bank of America, N.A. [Member] | Exercised at Various Dates (2015-2016) [Member]	'
Concentration Risk [Line Items]	'
Rentable Square Feet	300,000
Tenant Lease - Bank of America, N.A. [Member] | Weighted Average [Member]	'
Concentration Risk [Line Items]	'
Operating lease, term	'5 years 7 months 6 days
Tenant Lease - Bank of America, N.A. [Member] | Rentable Square Feet [Member]	'
Concentration Risk [Line Items]	'
Percentage of Annualized Base Rent	30.40%
Tenant Lease - Bank of America, N.A. [Member] | Base Rent [Member]	'
Concentration Risk [Line Items]	'
Percentage of Annualized Base Rent	20.70%
[1]	Annualized base rent represents annualized contractual base rental income as of September 30, 2014, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

REAL_ESTATE_HELD_FOR_INVESTMEN8

REAL ESTATE HELD FOR INVESTMENT (Condensed Financial Information of Bank of America Corporation) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Consolidated Statements of Income	'	'	'	'	'
Total revenues	$52,830,000	$54,061,000	$161,188,000	$163,884,000	'
Consolidated Balance Sheets	'	'	'	'	'
Total assets	1,440,176,000	'	1,440,176,000	'	1,744,897,000
Total liabilities	811,046,000	'	811,046,000	'	1,089,004,000
Total stockholders’ equity	624,212,000	'	624,212,000	'	645,893,000
Bank of America Corporation [Member]	'	'	'	'	'
Consolidated Statements of Income	'	'	'	'	'
Total revenues	21,209,000,000	21,530,000,000	65,522,000,000	67,454,000,000	'
Income before income taxes	431,000,000	4,845,000,000	2,545,000,000	12,327,000,000	'
Net income (loss)	-232,000,000	2,497,000,000	1,783,000,000	7,992,000,000	'
Consolidated Balance Sheets	'	'	'	'	'
Total assets	2,123,613,000,000	'	2,123,613,000,000	'	2,102,273,000,000
Total liabilities	1,884,932,000,000	'	1,884,932,000,000	'	1,869,588,000,000
Total stockholders’ equity	$238,681,000,000	'	$238,681,000,000	'	$232,685,000,000

REAL_ESTATE_HELD_FOR_INVESTMEN9

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details) (NORTH CAROLINA, Assets, Total [Member])	9 Months Ended
	Sep. 30, 2014
NORTH CAROLINA | Assets, Total [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	11.60%

Recovered_Sheet1

REAL ESTATE HELD FOR INVESTMENT (Impairment of Real Estate) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
	property		property	property
Investment [Line Items]	'	'	'	'
Impairment of real estate	$7,732	$1,840	$9,928	$32,225
Number of real estate properties included in impairment charges	3	'	5	7
Tysons Dulles Plaza [Member]	'	'	'	'
Investment [Line Items]	'	'	'	'
Impairment of real estate	7,200	'	7,200	19,500
Bridgeway Technology Center [Member]	'	'	'	'
Investment [Line Items]	'	'	'	'
Impairment of real estate	'	'	'	$6,600
GKK Properties [Member]	'	'	'	'
Investment [Line Items]	'	'	'	'
Number of real estate properties included in impairment charges	1	1	1	2

TENANT_ORIGINATION_AND_ABSORPT2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'	'	'	'	'
Tenant Origination and Absorption Costs, Cost, net of impairments	$94,643	'	$94,643	'	$107,498
Tenant Origination and Absorption Costs, Accumulated amortization	-39,667	'	-39,667	'	-38,870
Tenant Origination and Absorption Costs, Net Amount	54,976	'	54,976	'	68,628
Tenant Origination and Absorption Costs, Amortization expense	-4,983	-4,685	-12,809	-14,426	'
Above-Market Lease Assets, Cost, net of impairments	34,362	'	34,362	'	36,586
Above-Market Lease Assets, Accumulated amortization	-10,736	'	-10,736	'	-9,670
Above-Market Lease Assets, Net Amount	23,626	'	23,626	'	26,916
Above-Market Lease Assets, Amortization expense	-922	-1,080	-2,931	-3,376	'
Below-Market Lease Liabilities, Cost, net of impairments	-77,477	'	-77,477	'	-83,869
Below-Market Lease Liabilities, Accumulated amortization	33,763	'	33,763	'	30,011
Below-Market Lease Liabilities, Net Amount	-43,714	'	-43,714	'	-53,858
Below-Market Lease Liabilities, Amortization expense	$3,662	$3,220	$9,777	$9,895	'

REAL_ESTATE_LOANS_RECEIVABLE_S

REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) (USD $)	9 Months Ended
	Sep. 30, 2014		Dec. 31, 2013
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Outstanding Principal Balance	$36,009,000	[1]	'
Book Value	32,721,000	[2]	31,858,000	[2]
Reserve for Loan Losses	-3,994,000	[2],[3]	-2,090,000	[2],[3]
Book Value	28,727,000	[2]	29,768,000	[2]
Interest receivable	100,000		500,000
Sandmar Mezzanine Loan Southeast U.S. [Member] | Mezzanine [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired/ Originated	9-Jan-07	[4]	'
Outstanding Principal Balance	5,261,000	[1],[4]	'
Book Value	5,282,000	[2],[4]	5,025,000	[2],[4]
Contractual Interest Rate	5.40%	[4],[5]	'
Annualized Effective Interest Rate	5.20%	[4],[5]	'
Maturity Date	1-Jan-17	[4]	'
Lawrence Village Plaza Loan Origination New Castle, Pennsylvania [Member] | Mortgages [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired/ Originated	6-Aug-07	[6]	'
Outstanding Principal Balance	6,849,000	[1],[6]	'
Book Value	6,849,000	[2],[6]	6,878,000	[2],[6]
Contractual Interest Rate	8.00%	[5],[6]	'
Annualized Effective Interest Rate	8.10%	[5],[6]	'
Maturity Date	1-Sep-15	[6]	'
San Diego Office Portfolio B-Note San Diego, California [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Interest income	1,400,000		'
San Diego Office Portfolio B-Note San Diego, California [Member] | B-Note [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired/ Originated	26-Oct-07	[7]	'
Outstanding Principal Balance	20,000,000	[1],[7]	'
Book Value	17,256,000	[2],[7]	16,710,000	[2],[7]
Contractual Interest Rate	5.80%	[5],[7]	'
Annualized Effective Interest Rate	11.20%	[5],[7]	'
Maturity Date	11-Oct-17	[7]	'
4929 Wilshire B-Note Los Angeles, California [Member] | B-Note [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired/ Originated	19-Nov-07		'
Outstanding Principal Balance	3,899,000	[1]	'
Book Value	$3,334,000	[2]	$3,245,000	[2]
Contractual Interest Rate	6.10%	[5]	'
Annualized Effective Interest Rate	12.40%	[5]	'
Maturity Date	11-Jul-17		'
[1]	Outstanding principal balance as of September 30, 2014 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
[2]	Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
[3]	See “—Reserve for Loan Losses.”
[4]	The Company had recorded an asset-specific loan loss reserve against this investment as of September 30, 2014. See “—Reserve for Loan Losses.”
[5]	Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2014, using the interest method, divided by the average amortized cost basis of the investment during 2014. The contractual interest rates and annualized effective interest rates presented are as of September 30, 2014.
[6]	On August 29, 2014, the Company and the borrower under the Lawrence Village Plaza Loan Origination entered into a loan modification under which the maturity date was extended to September 1, 2015.
[7]	The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the nine months ended September 30, 2014, the Company recognized $1.4 million of interest income related to its investment in this loan.

REAL_ESTATE_LOANS_RECEIVABLE_S1

REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended			9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Real Estate Loans Receivable [Roll Forward]	'		'	'		'
Real estate loans receivables, Beginning Balance	'		'	$29,768	[1]	'
Deferred interest	'		'	279		'
Principal repayments received on real estate loan receivable	'		'	-84		'
Accretion of discounts on purchased real estate loans receivable	'		'	761		'
Amortization of origination fees and costs on purchased and originated real estate loans receivable	-6		9	-24		45
Change in loan loss reserve	'		'	-1,973		'
Real estate loans receivables, Ending Balance	$28,727	[1]	'	$28,727	[1]	'
[1]	Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.

REAL_ESTATE_LOANS_RECEIVABLE_S2

REAL ESTATE LOANS RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Receivables [Abstract]	'	'	'	'
Contractual interest income	$495,000	$600,000	$1,606,000	$1,780,000
Interest accretion	239,000	215,000	761,000	620,000
Amortization of origination fees and costs and acquisition costs, net	-6,000	9,000	-24,000	45,000
Interest income from real estate loans receivable	728,000	824,000	2,343,000	2,445,000
Interest income related to impaired loans	'	'	$200,000	$300,000

REAL_ESTATE_LOANS_RECEIVABLE_R

REAL ESTATE LOANS RECEIVABLE (Reserve for Loan Losses) (Details) (USD $)	3 Months Ended			9 Months Ended
	Sep. 30, 2014		Sep. 30, 2013	Sep. 30, 2014		Sep. 30, 2013
Allowance for Loan and Lease Losses, Real Estate [Roll Forward]	'		'	'		'
Reserve for loan losses, Beginning Balance	'		'	$2,090,000	[1],[2]	'
Provision for loan losses	0		0	1,973,000		0
Reduction to reserve for loan losses	'		'	-69,000		'
Reserve for loan losses, Ending Balance	3,994,000	[1],[2]	'	3,994,000	[1],[2]	'
Sandmar Mezzanine Loan [Member]	'		'	'		'
Allowance for Loan and Lease Losses, Real Estate [Roll Forward]	'		'	'		'
Provision for loan losses	'		'	2,000,000		'
Reserve for loan losses, Ending Balance	4,000,000		'	4,000,000		'
Mortgage loans on real estate, amortized cost basis	$5,300,000		'	$5,300,000		'
[1]	See “—Reserve for Loan Losses.”
[2]	Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.

REAL_ESTATE_SECURITIES_Narrati

REAL ESTATE SECURITIES (Narrative) (Details) (Gramercy Capital Corp [Member], USD $)	9 Months Ended
In Millions, except Share data, unless otherwise specified	Sep. 30, 2014
Schedule of Held-to-maturity Securities [Line Items]	'
Gain on sale of common stock	$4.40
Common Stock [Member]	'
Schedule of Held-to-maturity Securities [Line Items]	'
Common stock sold on investment, shares	1,386,602
Common stock sold on investment, value	$7.90

REAL_ESTATE_SECURITIES_Activit

REAL ESTATE SECURITIES (Activity of Real Estate Securities) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014
Investments, Debt and Equity Securities [Abstract]	'
Amortized Cost Basis, Beginning Balance	$3,421
Unrealized Gains (Losses), Beginning Balance	4,552
Real Estate Securities, Beginning Balance	7,973
Unrealized change in market value of real estate securities	-100
Sale of real estate securities, Amortized Cost Basis	-3,421
Sale of real estate securities, Unrealized Gains (Losses)	-4,452
Sale of real estate securities	-7,873
Amortized Cost Basis, Ending Balance	0
Unrealized Gains (Losses), Ending Balance	0
Real Estate Securities, Ending Balance	$0

REAL_ESTATE_HELD_FOR_SALE_AND_2

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Narrative) (Details) (USD $)	9 Months Ended	12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Dec. 31, 2013	Sep. 01, 2011
	property	property	property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties classified as held for sale during period	1	'	'
Number of real estate properties disposed	10	112	'
Number of real estate properties with terminated leasehold interest	1	'	'
Number of real estate properties	409	'	'
Real estate held for sale, net	19,549	99,299	'
GKK Properties [Member]	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties disposed	5	111	'
Additional number of real estate properties disposed	1	'	'
Real estate properties transferred in connection with foreclosure	2	'	'
Number of real estate properties	'	'	867
Held-for-Sale [Member]	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties	8	'	'
Held-for-Sale [Member] | GKK Properties [Member]	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties	7	'	'
Historical Real Estate [Member]	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties disposed	4	'	'
Held-for-Investment [Member]	'	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'
Number of real estate properties disposed	5	'	'

REAL_ESTATE_HELD_FOR_SALE_AND_3

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale) (Details) (USD $)	Sep. 30, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Discontinued Operations and Disposal Groups [Abstract]	'	'
Total real estate, at cost and net of impairment charges	$22,042	$113,542
Accumulated depreciation and amortization	-2,493	-14,243
Real estate held for sale, net	19,549	99,299
Other assets	1,110	5,820
Total assets related to real estate held for sale	20,659	105,119
Notes payable	5,700	53,300
Other liabilities	1,992	2,884
Total liabilities related to real estate held for sale	$7,692	$56,184

REAL_ESTATE_HELD_FOR_SALE_AND_4

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Revenue and Expenses) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Revenues	'	'	'	'
Rental income	$37,793	$40,278	$115,447	$119,936
Tenant reimbursements and other operating income	13,417	12,116	40,547	38,372
Total revenues	52,830	54,061	161,188	163,884
Expenses	'	'	'	'
Operating, maintenance, and management	20,252	20,385	63,082	62,839
Real estate taxes and insurance	6,486	7,021	20,684	21,840
Asset management fees to affiliate	2,473	2,550	7,503	7,560
General and administrative expenses	3,582	4,094	10,910	12,609
Depreciation and amortization	19,274	19,049	55,158	57,582
Interest expense	9,994	15,863	36,575	46,205
Impairment of real estate	7,732	1,840	9,928	32,225
Total expenses	69,793	70,802	205,813	240,860
Two Properties [Member]	'	'	'	'
Revenues	'	'	'	'
Rental income	1,072	3,667	7,335	10,949
Tenant reimbursements and other operating income	262	701	1,747	2,206
Total revenues	1,334	4,368	9,082	13,155
Expenses	'	'	'	'
Operating, maintenance, and management	390	1,330	2,393	4,243
Real estate taxes and insurance	206	637	1,604	1,954
Asset management fees to affiliate	34	132	292	390
General and administrative expenses	19	3	42	12
Depreciation and amortization	112	1,194	2,204	3,367
Interest expense	649	1,926	4,445	5,423
Impairment of real estate	0	0	2,196	873
Total expenses	$1,410	$5,222	$13,176	$16,262

REAL_ESTATE_HELD_FOR_SALE_AND_5

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Operating Income from Discontinued Operations) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'	'	'	'
Total revenues and other income	$532	$4,463	$1,528	$22,639
Total expenses	3	4,828	655	21,023
Income (loss) from discontinued operations before gain on sales of real estate, net and impairment charge	529	-365	873	1,616
Gain on sales of real estate, net	0	858	3,006	31,931
Impairment charge	-176	-1,419	-257	-4,566
Total income (loss) from discontinued operations	$353	($926)	$3,622	$28,981

FORECLOSED_REAL_ESTATE_HELD_FO1

FORECLOSED REAL ESTATE HELD FOR SALE (Details) (USD $)	3 Months Ended		9 Months Ended		24 Months Ended			9 Months Ended			9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2007	Dec. 31, 2013	Sep. 30, 2014	Sep. 30, 2014	Feb. 19, 2010	Sep. 30, 2014	Sep. 30, 2013
	Units		Units		Investments		Condominium Units [Member]	Tribeca Building [Member]	Tribeca Building [Member]	Tribeca Building [Member]	Tribeca Building [Member]
	property		property				Portfolios	Units		Condominium Units [Member]	Retail Space [Member]
										property	property
Real Estate Properties [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Number of debt investments	'	'	'	'	3	'	'	'	'	'	'
Number of units in condominium building	62	'	62	'	'	'	'	62	'	'	'
Right of ownership interest after foreclosure, percentage	'	'	'	'	'	'	'	'	100.00%	'	'
Number of real estate properties held for sale	8	'	8	'	'	'	3	'	'	3	'
Foreclosed real estate held for sale	$19,390,000	'	$19,390,000	'	'	$19,064,000	'	$19,400,000	'	'	'
Gain on sales of foreclosed real estate held for sale	0	0	0	-161,000	'	'	'	'	'	'	-200,000
Foreclosed real estate expense	'	'	'	'	'	'	'	1,100,000	'	'	'
Number of real estate properties sold, classified as held-for-sale	'	'	'	'	'	'	'	'	'	'	2
Expense related to foreclosed real estate held-for-sale	'	'	'	'	'	'	'	'	'	'	$1,200,000

NOTES_PAYABLE_Narrative_Detail

NOTES PAYABLE (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Dec. 31, 2013
Debt Instrument [Line Items]	'	'	'	'	'
Deferred financing costs	$2,400,000	'	$2,400,000	'	$1,900,000
Interest expense	9,994,000	15,863,000	36,575,000	46,205,000	'
Amortization of financing cost, net of discontinued operations	400,000	200,000	1,100,000	600,000	'
Amortization of discount and premium on notes payable, net	'	'	2,763,000	3,563,000	'
Interest payable	3,800,000	'	3,800,000	'	7,900,000
Notes Payable [Member]	'	'	'	'	'
Debt Instrument [Line Items]	'	'	'	'	'
Amortization of discount and premium on notes payable, net	$600,000	$600,000	$2,800,000	$1,900,000	'

NOTES_PAYABLE_Schedule_of_Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Dec. 31, 2013
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	$703,951		'
Total notes payable, net	696,812		962,282
Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	703,951		976,493
Discount on notes payable, net	-7,139	[1]	-14,211	[1]
Fixed Rate [Member]	'		'
Debt Instrument [Line Items]	'		'
Weighted-average interest rate	5.90%	[2]	'
Fixed Rate [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	482,702		766,093
Fixed Rate [Member] | GKK Properties [Member]	'		'
Debt Instrument [Line Items]	'		'
Weighted-average interest rate	5.80%	[2]	'
Fixed Rate [Member] | GKK Properties [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	420,502		600,694
Contractual interest rate, minimum	5.10%	[2]	'
Contractual interest rate, maximum	6.80%	[2]	'
Weighted-Average Remaining Term in Years	'3 years 10 months 24 days	[3]	'
Variable Rate [Member]	'		'
Debt Instrument [Line Items]	'		'
Weighted-average interest rate	2.00%	[2]	'
Variable Rate [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	221,249		210,400
Variable Rate [Member] | GKK Properties [Member]	'		'
Debt Instrument [Line Items]	'		'
Weighted-average interest rate	3.20%	[2]	'
Variable Rate [Member] | GKK Properties [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	40,000		0
Weighted-Average Remaining Term in Years	'2 years 8 months 12 days	[3]	'
Variable Rate [Member] | GKK Properties [Member] | Notes Payable [Member] | One-month LIBOR [Member]	'		'
Debt Instrument [Line Items]	'		'
Variable rate	3.00%		'
Mortgage Loans [Member] | Fixed Rate [Member]	'		'
Debt Instrument [Line Items]	'		'
Contractual interest rate, minimum	5.90%	[2]	'
Mortgage Loans [Member] | Fixed Rate [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	62,200		165,399
Weighted-Average Remaining Term in Years	'2 years	[3]	'
Mortgage Loans [Member] | Variable Rate [Member] | Notes Payable [Member]	'		'
Debt Instrument [Line Items]	'		'
Total notes payable principal outstanding	$181,249		$210,400
Weighted-Average Remaining Term in Years	'1 year 3 months 18 days	[3]	'
Mortgage Loans [Member] | Variable Rate [Member] | Notes Payable [Member] | One-month LIBOR [Member]	'		'
Debt Instrument [Line Items]	'		'
Variable rate	1.80%		'
[1]	Represents the unamortized discount and premium on notes payable due to the above- and below-market interest rates when the loans were assumed. The discount and premium are amortized over the remaining life of the respective loan.
[2]	Contractual interest rates as of September 30, 2014 represent the range of interest rates in effect under these loans as of September 30, 2014. Weighted-average interest rates as of September 30, 2014 are calculated as the actual interest rates in effect under these loans as of September 30, 2014 (consisting of the contractual interest rates), using interest rate indices as of September 30, 2014, where applicable.
[3]	Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of September 30, 2014; subject to certain conditions, the maturity dates of certain loans may be further extended.

NOTES_PAYABLE_Schedule_of_Matu

NOTES PAYABLE (Schedule of Maturities of Long-Term Debt) (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Notes Payable [Abstract]	'
October 1, 2014 through December 31, 2014	$4,159
2015	50,654
2016	321,758
2017	159,175
2018	8,651
Thereafter	159,554
Notes payable outstanding	$703,951

NOTES_PAYABLE_Schedule_of_Acti

NOTES PAYABLE (Schedule of Activity Related to Notes Payable) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Activity Related to Notes Payable [Roll Forward]	'	'
Total notes payable, Beginning Balance	$962,282	'
Proceeds from notes payable	42,500	475
Deferred interest	637	0
Principal repayments	-230,508	'
Amortization of discount and premium on notes payable, net	2,763	3,563
Total notes payable, Ending Balance	696,812	'
Discounted Payoff Agreement [Member]	'	'
Activity Related to Notes Payable [Roll Forward]	'	'
Extinguishment of debt	-26,825	'
Foreclosure or Deed-in-Lieu of Foreclosure [Member]	'	'
Activity Related to Notes Payable [Roll Forward]	'	'
Extinguishment of debt	($54,037)	'

NOTES_PAYABLE_Loan_Maturity_De

NOTES PAYABLE (Loan Maturity) (Details) (USD $)

3 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

9 Months Ended

9 Months Ended

9 Months Ended

0 Months Ended

0 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Apr. 16, 2014

Sep. 30, 2014

Apr. 14, 2014

Sep. 30, 2014

Apr. 14, 2014

Jun. 14, 2013

Sep. 30, 2014

Sep. 30, 2014

Feb. 01, 2013

Sep. 30, 2014

Jun. 24, 2013

29-May-14

29-May-14

29-May-14

29-May-14

29-May-14

29-May-14

29-May-14

29-May-14

801 Market Street [Member]

801 Market Street [Member]

Jenkins Court [Member]

Jenkins Court [Member]

BBD2 Loan [Member]

BBD2 Loan [Member]

Bridgeway Technology Center Mortgage Loan [Member]

Bridgeway Technology Center Mortgage Loan [Member]

Bridgeway Technology Center Mortgage Loan [Member]

Bridgeway Technology Center Mortgage Loan [Member]

BOA Windsor Mortgage Portfolio [Member]

801 Market Street Mortgage Loan [Member]

801 Market Street Mortgage Loan [Member]

Jenkins Court Mortgage Loan [Member]

Jenkins Court Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

Citizen Bank Portfolio Mortgage Loan [Member]

52 Citizens Bank branch properties (CRE Mortgage Loan) [Member]

52 Citizens Bank branch properties (CRE Mortgage Loan) [Member]

Mortgages [Member]

Mortgages [Member]

Mortgages [Member]

Mortgages [Member]

Mortgages [Member]

Secured Debt [Member]

Secured Debt [Member]

Secured Debt [Member]

Secured Debt [Member]

Secured Debt [Member]

Reduced Amount as of May 29, 2015 [Member]

Reduced Amount as of May 29, 2016 [Member]

Not to be Grater as of May29, 2017 [Member]

Debt Instrument [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Term of credit facility

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'3 years

'

'

'

'

'

'

Current borrowing capacity

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$40,000,000

$35,000,000

$30,000,000

$25,000,000

'

'

Extension period

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'1 year

'

'

'

'

'

'

Variable rate

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

3.00%

'

'

'

'

'

'

Frequency of periodic payment

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'Monthly

'

'

'

'

'

'

Payment terms

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'interest-only

'

'

'

'

'

'

Extinguishment of debt

'

'

'

'

'

'

'

'

'

52,000,000

'

'

26,800,000

'

'

6,100,000

37,600,000

'

14,600,000

'

'

'

'

'

'

'

63,100,000

'

Interest rate, stated percentage

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

8.24%

Percent of outstanding balance under guarantees

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

100.00%

'

'

'

'

'

'

'

Amount drawn from reserve fund

'

'

'

'

'

'

'

'

'

7,000,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Notes payable

696,812,000

'

696,812,000

'

962,282,000

'

'

'

'

'

138,900,000

'

'

26,800,000

26,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

Revenues

52,830,000

54,061,000

161,188,000

163,884,000

'

4,100,000

6,500,000

1,300,000

1,800,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Expenses

69,793,000

70,802,000

205,813,000

240,860,000

'

5,000,000

6,800,000

2,600,000

2,900,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Accrued interest, unpaid

'

'

'

'

'

'

'

'

'

'

'

'

'

2,100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Discounted payoff amount

'

'

'

'

'

'

'

'

'

'

'

'

'

25,600,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Gain from extinguishment of debt

16,216,000

0

21,328,000

0

'

12,600,000

'

'

'

'

'

3,300,000

'

'

'

1,800,000

'

'

3,600,000

'

'

'

'

'

'

'

'

'

Difference between carrying amount of outstanding debt and other liabilities

'

'

'

'

'

43,800,000

'

'

'

'

'

'

'

'

'

7,000,000

'

'

12,200,000

'

'

'

'

'

'

'

'

'

Difference between carrying value of real estate properties and other assets

'

'

'

'

'

31,200,000

'

'

'

'

'

'

'

'

'

5,200,000

'

'

8,600,000

'

'

'

'

'

'

'

'

'

Gain on settlement of debt

'

'

'

'

'

11,000,000

'

'

'

'

'

'

'

'

'

400,000

'

'

800,000

'

'

'

'

'

'

'

'

'

Gain (loss) on transfer of real estate assets

'

'

'

'

'

1,600,000

'

'

'

'

'

'

'

'

'

1,400,000

'

'

2,800,000

'

'

'

'

'

'

'

'

'

Estimated litigation liability

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$35,300,000

'

$13,200,000

'

'

'

'

'

'

'

'

FAIR_VALUE_DISCLOSURES_Narrati

FAIR VALUE DISCLOSURES (Narrative) (Details)	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014	Sep. 30, 2013
	property	property	property
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Number of real estate properties included in impairment charges	3	5	7
Held-for-Investment [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Number of real estate properties included in impairment charges	'	3	'
Terminal capitalization rates	8.25%	8.25%	'
Held-for-Investment [Member] | Discounted Cash Flow [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Number of real estate properties included in impairment charges	'	2	'
Held-for-Investment [Member] | Minimum [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Terminal capitalization rates	6.25%	6.25%	'
Held-for-Investment [Member] | Maximum [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Terminal capitalization rates	8.00%	8.00%	'
Held-for-Sale [Member]	'	'	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'	'	'
Number of real estate properties included in impairment charges	'	2	'
Terminal capitalization rates	10.25%	10.25%	'

FAIR_VALUE_DISCLOSURES_Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) (USD $)	Sep. 30, 2014		Dec. 31, 2013
In Thousands, unless otherwise specified
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Real estate loans receivable, Face Value	$36,009	[1]	$35,814	[1]
Notes payable, Face Value	703,951		976,493
Notes payable, Value	696,812		962,282
Carrying Amount [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Real estate loans receivable, Value	28,727	[1]	29,768	[1]
Notes payable, Value	696,812		962,282
Fair Value [Member]	'		'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'		'
Real estate loans receivable, Value	25,290	[1]	25,754	[1]
Notes payable, Value	$725,849		$965,463
[1]	Carrying amount of real estate loans receivable includes loan loss reserves.

FAIR_VALUE_DISCLOSURES_Schedul1

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) (Nonrecurring Basis [Member], USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Impaired Real Estate - Continuing Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	$139,260
Impaired Real Estate - Discontinued Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	653
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired Real Estate - Continuing Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	0
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Impaired Real Estate - Discontinued Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	0
Significant Other Observable Inputs (Level 2) [Member] | Impaired Real Estate - Continuing Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	0
Significant Other Observable Inputs (Level 2) [Member] | Impaired Real Estate - Discontinued Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	0
Significant Unobservable Inputs (Level 3) [Member] | Impaired Real Estate - Continuing Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	139,260
Significant Unobservable Inputs (Level 3) [Member] | Impaired Real Estate - Discontinued Operations [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Real estate investments, fair value	$653

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

3 Months Ended

9 Months Ended

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

Sep. 30, 2014

Sep. 30, 2013

Sep. 30, 2014

Sep. 30, 2013

Dec. 31, 2013

18-May-12

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

Advisor and Dealer Manager [Member]

KBS Strategic Opportunity REIT, Inc. [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Expensed [Member]

Asset Management Fees [Member]

Asset Management Fees [Member]

Asset Management Fees [Member]

Asset Management Fees [Member]

Asset Management Fees [Member]

Reimbursement of Operating Expenses [Member]

Reimbursement of Operating Expenses [Member]

Reimbursement of Operating Expenses [Member]

Reimbursement of Operating Expenses [Member]

Reimbursement of Operating Expenses [Member]

Dispositon Fees [Member]

Dispositon Fees [Member]

Dispositon Fees [Member]

Dispositon Fees [Member]

Dispositon Fees [Member]

Related Party Transaction [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Investments in joint ventures

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$8,000,000

Incurred

'

'

'

'

2,526,000

2,838,000

8,451,000

10,887,000

'

2,473,000

[1]

2,794,000

[1]

7,520,000

[1]

8,285,000

[1]

'

53,000

[2]

44,000

[2]

156,000

[2]

102,000

[2]

'

0

[3]

0

[3]

775,000

[3]

2,500,000

[3]

'

'

Payable

'

'

'

'

0

'

0

'

0

0

[1]

'

0

[1]

'

0

[1]

0

[2]

'

0

[2]

'

0

[2]

0

[3]

'

0

[3]

'

0

[3]

'

Asset management cost from discontinued operations

'

200,000

17,000

700,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Administrative fees, amount paid

$53,000

$44,000

$200,000

$100,000

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

[1]

Amounts include asset management fees from discontinued operations totaling $0.2 million for the three months ended September 30, 2013 and $17,000 and $0.7 million for the nine months ended September 30, 2014 and 2013, respectively.

[2]

The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $53,000 and $44,000 for the three months ended September 30, 2014 and 2013, respectively, and $0.2 million and $0.1 million for the nine months ended September 30, 2014 and 2013, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the nine months ended September 30, 2014 and 2013. The Company will not reimburse for employee costs in connection with services for which the Advisor earns disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.

[3]

Disposition fees with respect to real estate sold are included in the gain (loss) on sales of real estate in the accompanying consolidated statements of operations. Also see Note 8, “Foreclosed Real Estate Held for Sale” with respect to disposition fees on foreclosed real estate held for sale.

SUPPLEMENTAL_CASH_FLOW_AND_SIG2

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013
Supplemental Disclosure of Cash Flow Information:	'	'
Interest paid	$37,015	$43,421
Supplemental Disclosure of Significant Noncash Transactions:	'	'
Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure	54,028	209,057
Increase in distributions payable	4,712	0
Increase in capital expenses payable	3,759	215
Increase in lease commissions payable	$1,219	$0

SEGMENT_INFORMATION_Schedule_o

SEGMENT INFORMATION (Schedule of Segment Reporting Information, by Segment) (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013		Dec. 31, 2012
	States				segments
					States
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Number of reportable segments	'		'		3		'		'		'
Number of states in which entity operates	31		'		31		'		'		'
Revenues	$52,830		$54,061		$161,188		$163,884		'		'
Interest expense	9,994		15,863		36,575		46,205		'		'
Total net operating income	13,625	[1]	8,242	[1]	33,344	[1]	25,440	[1]	'		'
Assets	1,440,176		'		1,440,176		'		1,744,897		'
Real estate held for sale	19,549		'		19,549		'		99,299		'
Foreclosed real estate held for sale	19,390		'		19,390		'		19,064		'
Liabilities	811,046		'		811,046		'		1,089,004		'
Liabilities related to real estate held for sale	1,992		'		1,992		'		2,884		'
Cash and cash equivalents	89,975		214,764		89,975		214,764		211,391		254,578
Real Estate Segment [Member]	'		'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Revenues	17,343	[1]	18,902	[1]	54,496	[1]	57,009	[1]	'		'
Interest expense	2,158	[1]	4,466	[1]	7,445	[1]	13,604	[1]	'		'
Total net operating income	5,414	[1]	4,657	[1]	18,122	[1]	13,847	[1]	'		'
Assets	568,708		'		568,708		'		580,472		'
Liabilities	254,768		'		254,768		'		339,512		'
Real Estate-Related Segment [Member]	'		'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Revenues	728		824		2,343		2,445		'		'
Interest expense	0		0		0		0		'		'
Total net operating income	674		770		2,050		2,286		'		'
Assets	28,889		'		28,889		'		38,333		'
Liabilities	19		'		19		'		3		'
GKK Properties Segment [Member]	'		'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Number of states in which entity operates	30		'		30		'		'		'
Revenues	34,759		34,335		104,349		104,430		'		'
Interest expense	7,836		11,397		29,130		32,601		'		'
Total net operating income	7,537		2,815		13,172		9,307		'		'
Assets	731,637		'		731,637		'		814,798		'
Liabilities	542,595		'		542,595		'		691,964		'
Operating Segments [Member]	'		'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Assets	1,329,234		'		1,329,234		'		1,433,603		'
Real estate held for sale	20,659		'		20,659		'		105,119		'
Liabilities	797,382		'		797,382		'		1,031,479		'
Liabilities related to real estate held for sale	7,692		'		7,692		'		56,184		'
Corporate-Level [Member]	'		'		'		'		'		'
Segment Reporting Information [Line Items]	'		'		'		'		'		'
Assets	70,893	[2]	'		70,893	[2]	'		187,111	[2]	'
Liabilities	5,972		'		5,972		'		1,341		'
Cash and cash equivalents	$70,100		'		$70,100		'		$186,700		'
[1]	Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.
[2]	Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $70.1 million and $186.7 million as of September 30, 2014 and December 31, 2013, respectively.

SEGMENT_INFORMATION_Reconcilia

SEGMENT INFORMATION (Reconciliation of Net Income (Loss) to Net Operating Income (Loss)) (Details) (USD $)	3 Months Ended				9 Months Ended				12 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2014		Sep. 30, 2013		Sep. 30, 2014		Sep. 30, 2013		Dec. 31, 2013
Segment Reporting [Abstract]	'		'		'		'		'
Net loss	($249)		($14,915)		($12,417)		($44,547)		($46,495)
Gain on sales of real estate	0		0		-2,041		0		'
Gain on sales of real estate securities	0		-2,626		-4,410		-2,793		'
Gain from extinguishment of debt	-16,216		0		-21,328		0		'
Gain on sales of foreclosed real estate held for sale	0		0		0		-161		'
Other income and interest income	-145		-126		-807		-494		'
General and administrative expenses	3,582		4,094		10,910		12,609		'
Depreciation and amortization	19,274		19,049		55,158		57,582		'
Impairment charge on real estate held for investment	7,732		1,840		9,928		32,225		'
Provision for loan losses	0		0		1,973		0		'
Total income (loss) from discontinued operations	-353		926		-3,622		-28,981		'
NOI	$13,625	[1]	$8,242	[1]	$33,344	[1]	$25,440	[1]	'
[1]	Amounts include certain properties in continuing operations that were sold or held for sale as of September 30, 2014. See Note 7, “Real Estate Held for Sale and Discontinued Operations” for more information.

COMMITMENTS_AND_CONTINGENCIES_1

COMMITMENTS AND CONTINGENCIES (Details) (USD $)	Sep. 30, 2014
In Thousands, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]	'
October 1, 2014 through December 31, 2014	$4,715
2015	17,151
2016	16,645
2017	12,696
2018	2,580
Thereafter	34,478
Total future minimum lease payments	$88,265

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended		9 Months Ended		0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Sep. 30, 2014	Sep. 30, 2013	Sep. 30, 2014	Sep. 30, 2013	Oct. 30, 2014
					Subsequent Event [Member]
Subsequent Event [Line Items]	'	'	'	'	'
Dividends declared, agregate amount	'	'	'	'	$4.70
Distributions declared per common share	$0.03	$0	$0.03	$0	$0.03