KBS Real Estate Investment Trust 10-K 28 Mar 17 2016 FY Annual report Financial data

Document and Entity Information

Document and Entity Information Document - USD ($)	12 Months Ended
	Dec. 31, 2016	Mar. 24, 2017	Jun. 30, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	KBS Real Estate Investment Trust, Inc.
Entity Central Index Key	1,330,622
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-K
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Common Stock, Shares Outstanding		184,803,034
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Public Float			$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real estate held for investment:
Land	$ 72,985	$ 75,583
Buildings and improvements	344,941	349,575
Tenant origination and absorption costs	6,625	8,957
Total real estate held for investment, at cost and net of impairment charges	424,551	434,115
Less accumulated depreciation and amortization	(62,932)	(56,952)
Total real estate held for investment, net	361,619	377,163
Real estate held for sale, net	21,698	483,717
Total real estate, net	383,317	860,880
Real estate loans receivable, net	22,864	27,281
Total real estate and real estate-related investments, net	406,181	888,161
Cash and cash equivalents	173,437	46,605
Restricted cash	11,335	39,874
Rents and other receivables, net	21,917	22,730
Above-market leases, net	455	891
Assets related to real estate held for sale	675	38,937
Prepaid expenses and other assets, net	27,927	17,667
Total assets	641,927	1,054,865
Notes payable:
Notes payable, net	0	169,289
Notes payable related to real estate held for sale, net	0	258,933
Total notes payable, net	0	428,222
Accounts payable and accrued liabilities	7,574	19,152
Due to affiliates	188	68
Below-market leases, net	3,937	8,342
Liabilities related to real estate held for sale	1,909	19,843
Other liabilities	31,887	49,575
Total liabilities	45,495	525,202
Commitments and contingencies (Note 13)
Redeemable common stock	0	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, 184,985,282 and 186,414,147 shares issued and outstanding as of December 31, 2016 and 2015, respectively	1,850	1,864
Additional paid-in capital	1,660,588	1,656,137
Cumulative distributions and net losses	(1,066,006)	(1,138,338)
Total stockholders’ equity	596,432	519,663
Total liabilities and stockholders’ equity	$ 641,927	$ 1,054,865

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	184,985,282	186,414,147
Common stock, shares outstanding (in shares)	184,985,282	186,414,147

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues:
Rental income	$ 97,383	$ 135,117	$ 151,351
Tenant reimbursements	26,977	47,217	54,366
Interest income from real estate loans receivable	2,845	3,089	3,077
Parking revenues and other operating income	2,129	2,797	3,671
Total revenues	129,334	188,220	212,465
Expenses:
Operating, maintenance, and management	52,857	75,034	84,288
Real estate taxes, property-related taxes, and insurance	15,998	23,696	27,243
Asset management fees to affiliate	7,553	9,547	9,975
Foreclosure fees and expenses	278	0	0
General and administrative expenses	15,971	32,619	18,788
Depreciation and amortization	35,961	59,145	71,613
Interest expense	10,536	29,517	45,923
Impairment charges on real estate	33,419	49,306	10,117
Provision for loan losses	0	2,504	1,973
Total expenses	172,573	281,368	269,920
Other income
Gain on sales of real estate securities (includes $4.5 million of unrealized gains reclassified from accumulated other comprehensive income during the year ended December 31, 2014)	0	0	4,410
Gain on sales of real estate, net	159,464	99,988	2,282
Gain on sales of foreclosed real estate held for sale	0	2,509	1,108
(Loss) gain from extinguishment of debt	(26,343)	(22,518)	21,328
Other interest income	746	605	535
Other income	183	789	403
Total other income	134,050	81,373	30,066
Income (loss) from continuing operations	90,811	(11,775)	(27,389)
Discontinued operations:
Gain on sales of real estate, net	0	124	4,797
Income from discontinued operations	82	264	1,583
Impairment charges on discontinued operations	0	0	(257)
Total income from discontinued operations	82	388	6,123
Net income (loss)	$ 90,893	$ (11,387)	$ (21,266)
Basic and diluted income (loss) per common share:
Continuing operations (in dollars per share)	$ 0.49	$ (0.06)	$ (0.14)
Discontinued operations (in dollars per share)	0	0	0.03
Net income (loss) per common share (in dollars per share)	$ 0.49	$ (0.06)	$ (0.11)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	185,704,854	187,219,590	188,891,977

CONSOLIDATED STATEMENTS OF OPE5

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement [Abstract]
Other Comprehensive Income (Loss), Reclassification Adjustment from AOCI for Sale of Securities, Net of Tax	$ 0	$ 0	$ 4,452

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 90,893	$ (11,387)	$ (21,266)
Other comprehensive loss
Unrealized change in market value of real estate securities	0	0	(100)
Reclassification of realized gain on real estate securities	0	0	(4,452)
Total other comprehensive loss	0	0	(4,552)
Total comprehensive income (loss)	$ 90,893	$ (11,387)	$ (25,818)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Cumulative Distributions and Net Income (Loss)	Accumulated Other Comprehensive Income (Loss)
Balance, shares at Dec. 31, 2013		189,616,701
Balance, value at Dec. 31, 2013	$ 645,893	$ 1,896	$ 1,670,356	$ (1,030,911)	$ 4,552
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(21,266)			(21,266)
Other comprehensive loss	(4,552)				(4,552)
Redemptions of common stock, shares		(1,771,186)
Redemptions of common stock, value	(7,890)	$ (17)	(7,873)
Distributions declared	(9,412)			(9,412)
Balance, shares at Dec. 31, 2014		187,845,515
Balance, value at Dec. 31, 2014	602,773	$ 1,879	1,662,483	(1,061,589)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(11,387)			(11,387)
Other comprehensive loss	0
Redemptions of common stock, shares		(1,431,368)
Redemptions of common stock, value	(6,361)	$ (15)	(6,346)
Distributions declared	$ (65,362)			(65,362)
Balance, shares at Dec. 31, 2015	186,414,147	186,414,147
Balance, value at Dec. 31, 2015	$ 519,663	$ 1,864	1,656,137	(1,138,338)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	90,893			90,893
Other comprehensive loss	0
Redemptions of common stock, shares		(1,428,865)
Redemptions of common stock, value	(5,563)	$ (14)	(5,549)
Transfers from redeemable common stock	10,000		10,000
Distributions declared	$ (18,561)			(18,561)
Balance, shares at Dec. 31, 2016	184,985,282	184,985,282
Balance, value at Dec. 31, 2016	$ 596,432	$ 1,850	$ 1,660,588	$ (1,066,006)	$ 0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities:
Net income (loss)	$ 90,893	$ (11,387)	$ (21,266)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	35,961	59,145	71,613
Impairment charges on real estate - continuing operations	33,419	49,306	10,117
Impairment charges on real estate - discontinued operations	0	0	257
Loss due to property damages	1,033	0	0
Noncash interest income on real estate-related investments	(1,139)	(1,016)	(975)
Change in provision for loan losses	0	2,504	1,973
Deferred rent	(1,814)	(2,539)	(3,351)
Bad debt expense (recovery)	309	(320)	683
Amortization of deferred financing costs	324	1,873	1,581
Deferred interest payable	0	0	637
Amortization of above- and below-market leases, net	(5,345)	(7,192)	(9,040)
Gain on sales of foreclosed real estate held for sale	0	(2,509)	(1,108)
Gain on sales of real estate, net	(159,464)	(100,112)	(7,079)
Gain on sales of real estate securities	0	0	(4,410)
Loss (gain) on extinguishment of debt	26,343	22,518	(21,328)
Amortization of discounts and premiums on notes payable, net	227	1,333	3,371
Changes in operating assets and liabilities:
Rents and other receivables	1,751	298	(4,876)
Prepaid expenses and other assets	(13,819)	(6,651)	(7,241)
Accounts payable and accrued liabilities	(4,966)	(1,326)	(8,508)
Due to affiliates	120	23	45
Other liabilities	(17,694)	15,483	2,170
Net cash (used in) provided by operating activities	(13,861)	19,431	3,265
Cash Flows from Investing Activities:
Acquisition of real estate	0	(2,297)	0
Improvements to real estate	(27,029)	(38,233)	(27,377)
Proceeds from sales of real estate, net	617,319	301,833	93,335
Proceeds from sales of foreclosed real estate held for sale	0	14,155	8,861
Insurance proceeds received for property damage	1,028	0	0
Principal repayments on real estate loans receivable	76	153	127
Proceeds from sale of real estate securities	0	0	7,831
Net cash provided by investing activities	591,394	275,611	82,777
Cash Flows from Financing Activities:
Proceeds from notes payable	0	0	42,500
Principal payments on notes payable	(263,810)	(146,094)	(305,238)
Prepayment premium on the repayment of debt	(6,534)	(6,643)	0
Payments of deferred financing costs	0	(294)	(1,731)
Purchase of treasury securities in connection with defeasance of notes payable	(184,772)	(100,540)	0
Payments to redeem common stock	(5,563)	(6,361)	(7,890)
Distributions paid to common stockholders	(18,561)	(70,061)	(4,713)
Net cash used in financing activities	(479,240)	(329,993)	(277,072)
Net increase (decrease) in cash, cash equivalents and restricted cash	98,293	(34,951)	(191,030)
Cash, cash equivalents and restricted cash, beginning of period	86,479	121,430	312,460
Cash, cash equivalents, and restricted cash, end of period	$ 184,772	$ 86,479	$ 121,430

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2016
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. As of December 31, 2016 , the Company owned or, with respect to a limited number of properties, held a leasehold interest in, 90 real estate properties (of which 30 GKK Properties (defined below) were held for sale). In addition, as of December 31, 2016 , the Company owned three real estate loans receivable and a participation interest with respect to a real estate joint venture. 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, 2017. 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 December 31, 2016 , the Company had redeemed 14,450,298 of the shares sold in the Offering for $97.4 million . On January 27, 2016, the Company’s board of directors formed a special committee (the “Special Committee”) composed of all of its independent directors to explore the availability of strategic alternatives involving the Company. On October 5, 2016, in connection with a review of potential strategic alternatives available to the Company, the Special Committee and the board of directors unanimously approved the sale of all of the Company’s assets and the Company’s dissolution pursuant to the terms of the Company’s plan of complete liquidation and dissolution (the “Plan of Liquidation”). The principal purpose of the Plan of Liquidation is to maximize stockholder value by selling the Company’s assets, paying the Company’s debts and distributing the net proceeds from liquidation to the Company’s stockholders. On January 27, 2017, the Company’s stockholders approved the Plan of Liquidation. For more information, see the Plan of Liquidation, which is included as an exhibit to this Annual Report on Form 10-K. Asset Management Services Agreement Related to the GKK Properties On December 19, 2013, the Company, through an indirect wholly owned subsidiary (“KBS Acquisition Sub”), entered into an amended and restated asset management services agreement (the “Amended Services Agreement”) with GKK Realty Advisors LLC (“GKKRA”), an affiliate of Gramercy, with respect to the GKK Properties. The effective date of the Amended Services Agreement was December 1, 2013. Pursuant to the Amended Services Agreement, GKKRA 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”). As compensation for the Services, the Company agreed to pay GKKRA: (i) an annual fee of $7.5 million plus all GKK Property-related expenses incurred by GKKRA, (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 GKKRA. On June 29, 2016, KBS Acquisition Sub entered into two agreements, a second amended and restated asset management services agreement (the “Second Amended Services Agreement”) and an accounting/construction services agreement (the “Accounting/Construction Services Agreement” and, together with the Second Amended Services Agreement, the “GKK Agreements”), with GKKRA. The effective date of both the GKK Agreements was June 1, 2016. Combined, the Services and the key terms and compensation for the Services under the GKK Agreements are the same as those of the prior Amended Services Agreement; the two agreements allocate the Services and the compensation between asset management services and accounting/construction services. On June 29, 2016, GKKRA assigned the Second Amended Services Agreement to an affiliate, GPT Realty Management LP (“GPT” and, together with GKKRA, the “Property Manager”), an entity controlled by Gramercy. Neither the Property Manager nor Gramercy is affiliated with the Company or KBS Acquisition Sub. On November 17, 2016, KBS Acquisition Sub entered into an amendment to the Second Amended Services Agreement with GPT (the “First Amendment to Second Amended Services Agreement”) and an amendment to the Accounting/Construction Services Agreement with GKKRA (the “First Amendment to Accounting/Construction Services Agreement”) to, among other changes, (i) extend the termination date of the GKK Agreements from December 31, 2016 to March 31, 2017, at which point the Company does not anticipate that GKK Properties will make up a significant percentage of its assets and (ii) reduce the base management fee for the Services from $625,000 per month to $550,000 per month plus GKK Property-related expenses incurred by GPT for the period commencing on January 1, 2017 through March 31, 2017. In addition, the Company agreed to pay GPT an amount equal to $1.0 million upon termination of a leasehold interest of a property located in downtown St. Petersburg, Florida. As of December 31, 2016 , the Company had accrued $12.8 million of estimated profit participation interest related to the GKK Properties under the GKK Agreements, as amended.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation 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. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements have been prepared on a going concern basis. Pursuant to the Company’s stockholders approval of the Plan of Liquidation on January 27, 2017, the Company expects to adopt the liquidation basis of accounting commencing with its March 31, 2017 interim period to present information about its expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation. Use of Estimates The preparation of the consolidated financial statements and the accompanying 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. During the year ended December 31, 2016 , the Company sold 273 properties ( 269 of which were GKK Properties). As of December 31, 2016 , the Company had classified 30 properties as held for sale, all of which were GKK Properties. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Revenue Recognition Real Estate The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is reasonably assured and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. 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 Company makes estimates of the collectibility of its tenant receivables related to base rents, including deferred rent receivable, expense reimbursements and other revenue or income. Management specifically analyzes accounts receivable, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectibility of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. The Company recognizes a gain on sale of real estate upon the closing of a transaction with the purchaser. Gain on real estate sold are recognized using the full accrual method when collectibility of the sales price is reasonably assured, the Company is not obligated to perform additional activities that may be considered significant, the initial investment from the buyer is sufficient and other profit recognition criteria have been satisfied. A gain on sale of real estate may be deferred in whole or in part until the requirements for gain recognition have been met. Real Estate Loans Receivable Interest income on the Company’s real estate loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination fees and origination or acquisition costs, as well as acquisition premiums or discounts, are amortized over the term of the loan as an adjustment to interest income. The Company places loans on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reserves for any unpaid accrued interest and generally does not recognize subsequent interest income until cash is received, or the loan returns to accrual status. 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 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 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. Cash and Cash Equivalents The Company recognizes interest income on its cash and cash equivalents as it is earned and classifies such amounts as other interest income. Real Estate Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 15 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods Real Estate Acquisition Valuation The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. Acquisition costs are expensed as incurred and restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income. Impairment of Real Estate and Related Intangible Assets and Liabilities The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. Real Estate Held for Sale and Discontinued Operations The Company generally considers non-foreclosed real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Additionally, with respect to properties that were classified as held for sale in financial statements prior to January 1, 2014, the Company records the operating results and gains on sale as discontinued operations for all periods presented if the operations have been or are expected to be eliminated and the Company will not have any significant continuing involvement in the operations of the property following the sale. Operating results related to properties and gains on sale that were disposed of or classified as held for sale in the ordinary course of business during the years ended December 31, 2016, 2015 and 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. Change in a Plan to Sell When real estate is initially considered “held for sale” it is measured at the lower of its depreciated book value, or estimated fair value less estimated costs to sell. Changes in the market may compel the Company to decide to reclassify a property that was designated as held for sale to held for investment. A property that is reclassified from held for sale to held for investment or non-sale disposition is measured and recorded individually at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used, or (ii) its fair value at the date of the subsequent decision not to sell. Any adjustment to the carrying amount of the property as a result of the reclassification is included in income from continuing operations as an impairment charge on real estate held for investment. Real Estate Held for Non-Sale Disposition The Company considers real estate assets that do not meet the criteria to be classified as held for sale but are expected to be disposed of other than by sale as real estate held for non-sale disposition. The assets and liabilities related to real estate held for non-sale disposition are included in the Company’s consolidated balance sheets and the results of operations are presented as part of continuing operations in the Company’s consolidated statements of operations for all periods presented. With respect to properties that were disposed of other than by sale prior to January 1, 2014, the Company records the operating results as discontinued operations for all periods presented. Operating results of properties that were disposed of other than by sale during the year ended December 31, 2014 are included in continuing operations on the Company’s consolidated statements of operations. The Company did not dispose of any properties other than by sale during the year ended December 31, 2016 and 2015. Real Estate Loans Receivable The Company’s real estate loans receivable are recorded at amortized cost, net of loan loss reserves, and evaluated for impairment at each balance sheet date. The amortized cost of a real estate loan receivable is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the loan. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through “Provision for loan losses” on the Company’s consolidated statements of operations and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes a portfolio-based component and an asset-specific component. An asset-specific reserve relates to reserves for losses on loans considered impaired. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. The Company also considers a loan to be impaired if it grants the borrower a concession through a modification of the loan terms or if it expects to receive assets (including equity interests in the borrower) with fair values that are less than the carrying value of the loan in satisfaction of the loan. A reserve is established when the present value of payments expected to be received, observable market prices, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or amounts expected to be received in satisfaction of a loan are lower than the carrying value of that loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. Required reserve balances for this pool of loans are derived from estimated probabilities of default and estimated loss severities assuming a default occurs. On a quarterly basis, the Company’s management assigns estimated probabilities of default and loss severities to each loan in the portfolio based on factors such as the debt service coverage of the underlying collateral, the estimated fair value of the collateral, the significance of the borrower’s investment in the collateral, the financial condition of the borrower and/or its sponsors, the likelihood that the borrower and/or its sponsors would allow the loan to default, the Company’s willingness and ability to step in as owner in the event of default, and other pertinent factors. Failure to recognize impairments would result in the overstatement of earnings and the carrying value of the Company’s real estate loans receivable. Actual losses, if any, could differ significantly from estimated amounts. Participation Interest in an Unconsolidated Joint Venture The Company holds a participation interest with respect to a real estate joint venture. The carrying value of this participation interest as of December 31, 2016 and 2015 was $0 and the Company did not record any income or losses with respect to this participation interest during the years ended December 31, 2016 , 2015 and 2014 . Cash and Cash Equivalents The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2016 . The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. Restricted Cash Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for security deposits, property taxes, insurance, rent from master lease, letters of credit, debt service obligations and capital improvements and replacements. Rents and Other Receivables The Company periodically evaluates the collectibility of amounts due from tenants and maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintains an allowance for deferred rent receivable that arises from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates. Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liabilities. These costs are amortized over the terms of the respective financing agreements using the interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. Fair Value Measurements 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 non-financial and financial assets 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. When available, the Company utilizes quoted market prices from independent third-party sources to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. 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. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities. Share Redemption Program The Company has a share redemption program pursuant to which stockholders may sell their shares to the Company only in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined in the share redemption program and together with redemptions sought in connection with a stockholder’s death, “Special Redemptions”). Such redemptions are subject to an annual dollar limitation and are further subject to the other limitations described in the share redemption program, including: • During each calendar year, Special Redemptions are limited to an annual amount determined by the board of directors. The annual dollar limitation for the Company’s share redemption program may be reviewed and adjusted from time to time during the year. The dollar limitation for calendar year 2016 was $ 10.0 million in the aggregate. On January 27, 2017, the Company’s board of directors approved an annual dollar limitation of $ 10.0 million in the aggregate for the calendar year 2017 (subject to review and adjustment during the year by the board of directors), and further subject to the limitations described in the share redemption program. • During any calendar year, the Company may redeem no more than 5% of the weighted-average number of shares outstanding during the prior calendar year. • The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. The Company currently does not expect to have funds available for ordinary redemptions in the future. If the Company cannot repurchase all shares presented for redemption in any month because of the limitations on redemptions set forth in the share redemption program, then the Company will honor redemption requests on a pro rata basis, except that if a pro rata redemption would result in a stockholder owning less than the minimum purchase requirement described in the Company’s most recently effective registration statement, as such registration statement has been amended or supplemented, then the Company would redeem all of such stockholder’s shares. In connection with the approval by its stockholders of the Plan of Liquidation, on January 27, 2017, the Company’s board of directors approved the amendment and restatement of the Company’s share redemption program (the “Amended Share Redemption Program”). The Amended Share Redemption Program became effective on February 27, 2017. Prior to effectiveness of the Amended Share Redemption Program on February 27, 2017, the redemption price for all stockholders whose shares were eligible for redemption was equal to the most recent estimated value per share of the Company’s common stock as of the redemption date. On December 8, 2015, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.94 (unaudited), based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2015, with the exception of an adjustment to the Company’s net asset value to give effect to the December 7, 2015 payment of a special distribution of $0.25 per share on the outstanding shares of the Company’s common stock to the stockholders of record as of the close of business on December 1, 2015. For a full description of the methodologies and assumptions used to value the Company’s assets and liabilities in connection with the calculation of the December 2015 estimated value per share, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 at Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities — Market Information.” Effective for redemption dates from December 2015 through September 2016, the redemption price for all stockholders whose shares were eligible for redemption was $3.94 per share. On October 5, 2016, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.65 per share (unaudited), based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of June 30, 2016, except for certain items discussed herein in Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities - Market Information,” for which estimated values were adjusted subsequent to June 30, 2016. The redemption price for all shares eligible for redemption was $3.65 per share for redemption dates from October 2016 through December 2016. For a full description of the methodologies and assumptions used to value the Company’s assets and liabilities in connection with the calculat

REAL ESTATE HELD FOR INVESTMENT

REAL ESTATE HELD FOR INVESTMENT	12 Months Ended
	Dec. 31, 2016
Real Estate Held for Investment [Abstract]
REAL ESTATE HELD FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of December 31, 2016 , the Company’s portfolio of real estate held for investment, including the GKK Properties, was composed of approximately 3.0 million rentable square feet and was 88% occupied. These properties are located in 18 states and include office properties, industrial properties, bank branch properties and a retail property. Included in the Company’s portfolio of real estate held for investment was 0.9 million rentable square feet related to the GKK Properties held for investment, which were 85% occupied as of December 31, 2016 . The following table summarizes the Company’s real estate held for investment as of December 31, 2016 and 2015 (in thousands): Land Buildings and Improvements Tenant Origination and Absorption Costs Total Real Estate Held for Investment As of December 31, 2016: Office $ 48,437 $ 251,326 $ 300 $ 300,063 Industrial 10,975 57,672 1,835 70,482 Retail (1) 964 1,653 350 2,967 GKK Properties 12,609 34,290 4,140 51,039 Real estate held for investment, at cost and net of impairment charges $ 72,985 $ 344,941 $ 6,625 $ 424,551 Accumulated depreciation and amortization — (58,120 ) (4,812 ) (62,932 ) Real estate held for investment, net $ 72,985 $ 286,821 $ 1,813 $ 361,619 As of December 31, 2015: Office $ 49,595 $ 245,406 $ 525 $ 295,526 Industrial 10,974 56,451 1,835 69,260 GKK Properties 15,014 47,718 6,597 69,329 Real estate held for investment, at cost and net of impairment charges $ 75,583 $ 349,575 $ 8,957 $ 434,115 Accumulated depreciation and amortization — (50,947 ) (6,005 ) (56,952 ) Real estate held for investment, net $ 75,583 $ 298,628 $ 2,952 $ 377,163 _____________________ (1) On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. See Note 5, “Real Estate Loans Receivable.” Operating Leases The Company’s real estate assets are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2016 , the Company’s leases, including those related to the GKK Properties, related to properties held for investment and excluding options to extend, had remaining terms of up to 13.5 years with a weighted-average remaining term of 3.9 years. As of December 31, 2016 , leases related to the GKK Properties held for investment, excluding options to extend, had remaining terms of up to 9.8 years with a weighted-average remaining term of 1.9 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. 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 $2.4 million and $3.2 million as of December 31, 2016 and 2015 , respectively. During the years ended December 31, 2016 , 2015 and 2014 , the Company recognized deferred rent from tenants of $1.8 million , $2.5 million and $3.4 million , respectively. These amounts for the years ended December 31, 2016 , 2015 and 2014 were net of $1.2 million , $1.4 million and $1.4 million of lease incentive amortization, respectively. As of December 31, 2016 and 2015 , the cumulative deferred rent balance was $19.0 million and $16.3 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $4.6 million and $4.2 million of unamortized lease incentives as of December 31, 2016 and 2015 , 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 held for investment under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of December 31, 2016 for the years ending December 31 is as follows (in thousands): 2017 $ 51,172 2018 44,353 2019 41,764 2020 37,399 2021 33,532 Thereafter 79,141 $ 287,361 Under certain of the Company’s leases, tenants reimburse the Company for their proportionate share of the costs the Company incurs to manage, operate and maintain the buildings and properties where they rent space. These leases often limit the types and amounts of expenses the Company can pass through to its tenants and allow the tenants to audit and contest the determination of the operating expenses they are required to pay. As of December 31, 2016 , the Company had recorded liabilities of approximately $2.0 million as a result of tenant reimbursement audits. As of December 31, 2016 , the Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 30 $ 13,533 24.4 % Legal 12 8,454 15.2 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2016 , 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 December 31, 2016 , no other tenant industries accounted for more than 10% of the Company’s annualized base rent. The Company currently has over 160 tenants over a diverse range of industries and geographical regions. As of December 31, 2016 and 2015 , the Company had a bad debt expense reserve of $0.5 million and $0.5 million , respectively. During the years ended December 31, 2016 , 2015 and 2014 , the Company recorded bad debt expense (recovery) related to its tenant receivables of $0.3 million , $(0.1) million and $0.5 million , respectively. As of December 31, 2016 , the Company had a concentration of credit risk related to a lease with the following tenant that represented more than 10% of the Company’s annualized base rent: Annualized Base Rent Statistics Tenant Property Tenant Industry Rentable Square Feet % of Portfolio (1) Annualized Base Rent (1) % of Portfolio Annualized Base Rent per Square Foot Lease Expiration Husch Blackwell Plaza in Clayton Legal 198,218 7.4 % $ 6,636 12.0 % $ 33.48 03/31/2022 _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2016 , 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. No other tenant represented more than 10% of the Company’s annualized base rent. Geographic Concentration Risk As of December 31, 2016 , the Company’s net investments in real estate in Virginia and Missouri represented 18.6% and 10.5% of the Company’s total assets, respectively. As a result, the geographic concentration of the Company’s portfolio makes it particularly susceptible to adverse economic developments in the Virginia and Missouri real estate markets. Any adverse economic or real estate developments in these markets, 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 During the year ended December 31, 2016 , the Company recorded non-cash impairment charges of $33.4 million , of which $19.5 million related to 25 properties classified as real estate held for investment (including 22 GKK Properties), to write-down the carrying values of these real estate investments to their estimated fair values and $13.9 million with respect to 43 GKK Properties that were held for sale or sold to write-down the carrying values of these real estate investments to their estimated sales price less estimated costs to sell. See Note 6, “Real Estate Held for Sale and Discontinued Operations,” for information regarding impairments of assets related to real estate held for sale or sold. The facts and circumstances leading to the impairments on the Company’s real estate held for investment are as follows: City Gate Plaza The Company recognized an impairment charge during the year ended December 31, 2016 of $3.3 million to reduce the carrying value of the Company’s investment in City Gate Plaza, an office property located in Sacramento, California, to its estimated fair value. The Company revised its cash flow projections to account for higher projected leasing costs to stabilize the property. The continued lack of demand in the Sacramento office rental market also resulted in higher capitalization rates. University Park Buildings The Company recognized an impairment charge during the year ended December 31, 2016 of $3.2 million to reduce the carrying value of the Company’s investment in the University Park Buildings, an office property located in Sacramento, California, to its estimated fair value. The Company revised its cash flow projections primarily to account for higher projected capital costs for general building upgrades and to address certain maintenance issues. The continued lack of demand in the Sacramento office rental market also resulted in higher capitalization rates. Lawrence Village Plaza The Company recognized an impairment charge during the year ended December 31, 2016 of $2.0 million to reduce the carrying value of Lawrence Village Plaza, a retail property located in New Castle, Pennsylvania, to its estimated fair value. The Company revised its cash flow projections due to perceived credit concerns for the property's anchor tenant, an increase in projected vacancy related to the termination of multiple tenant leases and the continued lack of demand for retail space in the submarket, thus decreasing the projected cash flows. GKK Properties Citizens Bank Portfolio The Company recognized an impairment charge during the year ended December 31, 2016 of $10.6 million relating to 19 properties in the Citizens Bank Portfolio due to a decrease in cash flow projections primarily due to an increase in projected vacancy, thus decreasing the projected cash flows the properties would generate. Pitney Bowes - Bank of America Portfolio The Company recognized an impairment charge during the year ended December 31, 2016 of $0.4 million relating to three properties in the Pitney Bowes - Bank of America Portfolio due to a decrease in cash flow projections primarily due to an increase in projected vacancy, thus decreasing the projected cash flows the properties would generate. Prior Period Impairments During the year ended December 31, 2015 , the Company recorded non-cash impairment charges of $49.3 million . The impairment charges for the year ended December 31, 2015 included $48.4 million of impairments with respect to ten properties classified as real estate held for investment (including six GKK Properties) to write-down the carrying values of these real estate investments to their estimated fair values. See Note 6, “Real Estate Held for Sale and Discontinued Operations,” for information regarding impairments of assets related to real estate held for sale. The facts and circumstances leading to the impairments on the Company’s real estate held for investment are as follows: Woodfield Preserve Office Center The Company recognized an impairment charge during the year ended December 31, 2015 of $24.8 million to reduce the carrying value of the Company’s investment in Woodfield Preserve Office Center, an office property located in Schaumburg, Illinois, due to a decrease in projected cash flow projections. The decrease in cash flow projections was primarily due to (i) an increase in projected vacancy related to a tenant occupying 51,616 rentable square feet, or approximately 8% of the Woodfield Preserve Office Center and (ii) the challenging Schaumburg office rental market. The tenant’s lease was to expire in November 2016 and it was no longer expected to renew since it was recently acquired and can relocate to excess space leased by the acquiring company. As a result, the Company revised its cash flow projections for longer lease up periods and additional tenant improvement costs and leasing concessions required to attract new tenants. Chicago’s northwest suburb office rental market was heavily affected by the 2008-2009 recession; however, the outlook was optimistic that the market would recover to levels seen prior to the recession. Although the general market has seen positive net absorption, rental rates have remained low while lease concessions remain high resulting in lower projected revenue growth and cash flow projections. The market conditions in Schaumburg, Illinois have also resulted in a lack of interest from investors. The Company sold the Woodfield Preserve Office Center in 2016. Tysons Dulles Plaza The Company recognized an impairment charge during the year ended December 31, 2015 of $15.7 million to reduce the carrying value of Tysons Dulles Plaza, an office property located in McLean, Virginia, to its estimated fair value. The Company revised its cash flow projections primarily for longer estimated lease up periods as a result of the continued lack of demand in the McLean office rental market. While the market has seen slight increases in rental rates, lease concessions have not declined as previously expected. The Company also revised its cash flow projections to account for higher projected capital costs for tenant improvements, general building upgrades, and deferred maintenance costs needed to position the property competitively with other properties in the area, to address certain maintenance issues and to attract additional tenants. The lack of sales activity in McLean, Virginia has also resulted in higher capitalization rates. University Park Buildings The Company recognized an impairment charge during the year ended December 31, 2015 of $3.4 million related to the Company’s investment in the University Park Buildings, an office property located in Sacramento, California, due to a decrease in cash flow projections primarily due to an increase in projected vacancy related to a tenant occupying 36,377 rental square feet, or approximately 28% of the University Park Buildings. The tenant’s lease expires in June 2017 and it is no longer expected to renew. As a result, the Company revised its cash flow projections for longer lease up periods and additional tenant improvement costs and leasing concessions required to attract new tenants. 69 State Street The Company recognized an impairment charge during the year ended December 31, 2015 of $2.0 million to reduce the carrying value of 69 State Street, an office property located in Albany, New York, to its estimated fair value based on its selling price at auction subsequent to December 31, 2015 . Las Vegas Ops Center The Company recognized an impairment charge during the year ended December 31, 2015 of $2.0 million to reduce the carrying value of Las Vegas Ops Center, an operations center located in Las Vegas, Nevada, to its estimated fair value based on its selling price at auction subsequent to December 31, 2015 . Other Properties The Company recognized impairment charges during the year ended December 31, 2015 of $0.5 million related to five other properties held for investment, including four GKK Properties. No impairment charge related to any individual property was greater than $250,000 . These impairments generally resulted from changes in the projected hold periods or changes in leasing projections including longer estimated lease-up periods and lower projected rental rates, thus decreasing the projected cash flows the properties would generate.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2016
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 December 31, 2016 and 2015 , 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 Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Cost, net of impairments $ 6,625 $ 8,957 $ 2,500 $ 3,223 $ (28,183 ) $ (28,464 ) Accumulated amortization (4,812 ) (6,005 ) (2,045 ) (2,332 ) 24,246 20,122 Net amount $ 1,813 $ 2,952 $ 455 $ 891 $ (3,937 ) $ (8,342 ) 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 years ended December 31, 2016 , 2015 and 2014 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2016 2015 2014 2016 2015 2014 2016 2015 2014 Amortization $ (4,420 ) $ (11,902 ) $ (16,345 ) $ (1,850 ) $ (3,840 ) $ (3,790 ) $ 7,195 $ 11,032 $ 12,531 The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2016 is expected to be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities 2017 $ (941 ) $ (345 ) $ 3,369 2018 (538 ) (102 ) 382 2019 (232 ) (8 ) 181 2020 (50 ) — 5 2021 (18 ) — — Thereafter (34 ) — — $ (1,813 ) $ (455 ) $ 3,937 Weighted-Average Remaining Amortization Period 2.5 years 1.4 years 1.2 years

REAL ESTATE LOANS RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOANS RECEIVABLE As of December 31, 2016 and 2015 , the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands): Loan Name Location of Related Property or Collateral Date Acquired/ Originated Property Type Loan Type Outstanding Principal Balance as of December 31, 2016 (1) Book Value as of December 31, 2016 (2) Book Value as of December 31, 2015 (2) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date Sandmar Mezzanine Loan Southeast U.S. (4) 01/09/2007 Retail Mezzanine $ 5,074 $ 5,096 $ 5,096 5.4% — % 01/01/2017 Lawrence Village Plaza Loan Origination New Castle, Pennsylvania (5) 08/06/2007 Retail Mortgage — — 6,903 (5) (5) (5) San Diego Office Portfolio B-Note San Diego, California (6) 10/26/2007 Office B-Note 20,000 19,205 18,277 5.8% 11.2 % 10/11/2017 4929 Wilshire B-Note Los Angeles, California 11/19/2007 Office B-Note 3,779 3,659 3,503 6.1% 12.4 % 07/11/2017 $ 28,853 $ 27,960 $ 33,779 Reserve for Loan Losses (7) — (5,096 ) (6,498 ) $ 28,853 $ 22,864 $ 27,281 _____________________ (1) Outstanding principal balance as of December 31, 2016 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 2016, using the interest method, annualized and divided by the average amortized cost basis of the investment during 2016. The contractual interest rates and annualized effective interest rates presented are as of December 31, 2016 . (4) The Company had recorded an asset-specific loan loss reserve against this investment as of December 31, 2016 . See “—Reserve for Loan Losses.” Subsequent to December 31, 2016 , the borrower defaulted on the Sandmar Mezzanine Loan. (5) On September 1, 2015, the Lawrence Village Plaza Loan Origination matured without repayment. On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. (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. In addition, Charles J. Schreiber, Jr. (the Company’s Chief Executive Officer, one of the Company’s directors and one of the Company’s sponsors) has served as a member of the board of directors and executive committee of The Irvine Company since August 2016, and since December 2016, Mr. Schreiber has served on the Board of Trustees of The Irvine Company. During the year ended December 31, 2016 , the Company recognized $2.1 million of interest income related to its investment in this loan. (7) See “—Reserve for Loan Losses.” As of December 31, 2016 and 2015 , interest receivable from real estate loans receivable was $0.1 million and $0.1 million , respectively, and is included in rents and other receivables. The following summarizes the activity related to real estate loans receivable for the year ended December 31, 2016 (in thousands): Real estate loans receivable, net - December 31, 2015 $ 27,281 Principal repayments received on real estate loans receivable (76 ) Accretion of discounts on purchased real estate loans receivable 1,175 Amortization of origination fees and costs on purchased and originated real estate loans receivable (36 ) Deed-in-lieu foreclosure of real estate loan receivable (5,480 ) Real estate loans receivable, net - December 31, 2016 $ 22,864 The following summarizes the Company’s investments in real estate loans receivable as of December 31, 2016 (in thousands): Outstanding principal balance $ 28,853 Discounts on real estate loans receivable (8,060 ) Accumulated accretion of discounts on purchases of real estate loans receivable 7,117 Origination fees and costs on purchases and originations of real estate loans receivable 348 Accumulated amortization of origination fees and costs, net (298 ) Reserve for loan losses (5,096 ) Real estate loans receivable, net - December 31, 2016 $ 22,864 For the years ended December 31, 2016 , 2015 and 2014 , interest income from real estate loans receivable consisted of the following (in thousands): Years Ended December 31, 2016 2015 2014 Contractual interest income $ 1,706 $ 2,073 $ 2,102 Interest accretion 1,175 1,048 1,007 Amortization of origination fees and costs and acquisition costs, net (36 ) (32 ) (32 ) Interest income from real estate loans receivable $ 2,845 $ 3,089 $ 3,077 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. As of December 31, 2016 , the borrower under the Sandmar Mezzanine Loan was delinquent. Subsequent to December 31, 2016, the borrower defaulted on the Sandmar Mezzanine Loan. Beginning in July 2014, interest income received on the Sandmar Mezzanine Loan was recorded on a cost-recovery basis. As of September 30, 2015, the book value, which is net of the loan loss reserve for the Sandmar Mezzanine Loan, was $0 . Subsequent to September 30, 2015, the Company began recognizing cash receipts related to the Sandmar Mezzanine Loan as interest income. During the years ended December 31, 2016, 2015 and 2014, the Company recognized interest income of $0.1 million , $0.1 million and $0.2 million related to the Sandmar Mezzanine Loan, respectively. On September 1, 2015, the Lawrence Village Plaza Loan Origination matured without repayment and the Company began recognizing interest income on a cash basis. On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. During the years ended December 31, 2016, 2015 and 2014, the Company recognized interest income of $0.2 million , $0.6 million and $0.6 million on the Lawrence Village Plaza Loan Origination, respectively. Reserve for Loan Losses As of December 31, 2016 , the total reserve for loan losses consisted of $5.1 million of asset-specific reserves related to the Sandmar Mezzanine Loan, which had an amortized cost basis of $5.1 million . The Company did not record additional loan loss reserves during year ended December 31, 2016 .

REAL ESTATE HELD FOR SALE AND D

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS In accordance with 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”), operating results of 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. Operating results of 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. Prior to the adoption of ASU No. 2014-08, the operating results of properties held for sale or to be disposed of and the aggregate net gains recognized upon their disposition were presented as discontinued operations in the accompanying consolidated statements of operations for all periods presented. During the year ended December 31, 2015 , the Company disposed of 34 properties (of which 31 were GKK Properties) and terminated its leasehold interest in three GKK Properties. During the year ended December 31, 2016 , the Company disposed of 273 properties (of which 269 were GKK Properties) and terminated its leasehold interest in two GKK Properties. As of December 31, 2016 , the Company had classified 30 properties as held for sale, all of which were GKK Properties. The following summary presents the major components of assets and liabilities related to real estate held for sale as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Assets related to real estate held for sale Total real estate, at cost and net of impairment charges $ 28,985 $ 589,848 Accumulated depreciation and amortization (7,287 ) (106,131 ) Real estate held for sale, net 21,698 483,717 Other assets 675 38,937 Total assets related to real estate held for sale $ 22,373 $ 522,654 Liabilities related to real estate held for sale Notes payable, net — 258,933 Other liabilities 1,909 19,843 Total liabilities related to real estate held for sale $ 1,909 $ 278,776 During the year ended December 31, 2016 , the Company sold four historical real estate properties and 269 GKK Properties, which properties were not classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014. During the year ended December 31, 2015 , the Company sold three historical real estate properties and 30 GKK Properties, which properties were not classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014. During the year ended December 31, 2014 , the Company sold four historical real estate properties and two GKK Properties, 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 periods prior to January 1, 2014. As of December 31, 2016 , the Company had classified 30 properties as held for sale, all of which were GKK Properties. In accordance with ASU No. 2014-08, the operations of these properties are included in continuing operations on the Company’s consolidated statements of operations. The following table summarizes certain revenues and expenses related to all of these properties, which were included in continuing operations (in thousands): Years Ended December 31, 2016 2015 2014 Revenues Rental income $ 38,710 $ 79,325 $ 97,420 Tenant reimbursements and other operating income 20,535 41,702 50,354 Total revenues 59,245 121,027 147,774 Expenses Operating, maintenance, and management 21,081 44,304 54,097 Real estate taxes and insurance 8,495 16,815 20,373 Asset management fees to affiliate 1,173 2,068 2,518 General and administrative expenses — 48 85 Depreciation and amortization 15,882 40,313 52,921 Interest expense 4,380 21,284 34,444 Impairment of real estate 13,931 29,774 2,424 Total expenses 64,942 154,606 166,862 Discontinued Operations The following table summarizes operating income from discontinued operations for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Years Ended December 31, 2016 2015 2014 Total revenues and other income $ 6 $ 110 $ 2,505 Total expenses (76 ) (154 ) 922 Income from discontinued operations before gain on sales of real estate, net, and impairment charge 82 264 1,583 Gain on sales of real estate, net — 124 4,797 Impairment charge — — (257 ) Income from discontinued operations $ 82 $ 388 $ 6,123 Foreclosed Real Estate Held for Sale During the year ended December 31, 2015 , the Company sold the remaining two condominium units of the Tribeca Building and recognized a gain on sale of $2.5 million (which gain on sale has been reduced by disposition fees to the Advisor of $0.2 million related to these two units) and recorded expenses of $0.3 million related to foreclosed real estate held for sale. During the year ended December 31, 2014 , the Company sold one unit of the Tribeca Building and recognized a gain on sale of $1.1 million (which gain on sale has been reduced by disposition fees to the Advisor of $0.4 million related to 26 residential units of the Tribeca Building, two retail units and the parking space units sold as of December 31, 2014 ) and recorded expenses of $1.2 million related to foreclosed real estate held for sale. Disposition of the FSI 6000 Properties On April 11, 2016, the Company sold 61 bank branch properties, containing an aggregate of 245,843 rentable square feet (the “FSI 6000 Properties”), to a buyer unaffiliated with the Company or the Advisor (the “FSI 6000 Buyer”), for an aggregate sales price, net of closing credits, of $139.6 million (which includes a payment of $6.6 million by the FSI 6000 Buyer to the Company to compensate the Company for costs and expenses the Company incurred in connection with the defeasance of the FSI 6000 Mortgage Loans, as defined below), excluding closing costs.

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE As of December 31, 2016 and 2015 , the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of December 31, 2016 Book Value as of December 31, 2015 Contractual Interest Rates as of December 31, 2016 Effective Interest Rates as of December 31, 2016 Payment Type Maturity Date Notes Payable Plaza in Clayton Mortgage Loan (1) $ — $ 62,200 (1) (1) (1) (1) Portfolio Loan (2) — 164,131 (2) (2) (2) (2) — 226,331 GKK Properties Notes Payable Bank of America - BBD2 Mortgage Loan (3) — 65,712 (3) (3) (3) (3) Pitney Bowes - Bank of America Mortgage Loan (4) — 36,160 (4) (4) (4) (4) FSI 6000D Mortgage Loan (5) — 28,934 (5) (5) (5) (5) FSI 6000B Mortgage Loan (5) — 27,763 (5) (5) (5) (5) FSI 6000A Mortgage Loan (5) — 24,271 (5) (5) (5) (5) FSI 6000C Mortgage Loan (5) — 21,967 (5) (5) (5) (5) — 204,807 Total notes payable principal outstanding — 431,138 Discount on notes payable, net (6) — (2,487 ) Deferred financing costs, net — (429 ) Total notes payable, net $ — $ 428,222 _____________________ (1) On October 6, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Plaza in Clayton Mortgage Loan. (2) On December 1, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Portfolio Loan. (3) On April 15, 2016, the Company, through an indirect wholly owned subsidiary, entered into a defeasance agreement with the lenders under the Bank of America - BBD2 Mortgage Loan. See “Significant Financing Transactions - Defeasance of the Bank of America - BBD2 Mortgage Loan” below. (4) On September 1, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Pitney Bowes - Bank of America Mortgage Loan. See “Significant Financing Transactions - Early Pay-off of the Pitney Bowes - Bank of America Mortgage Loan” below. (5) On April 11, 2016, the Company, through indirect wholly owned subsidiaries, entered into a defeasance agreement with each of the lenders under these loans. See “Significant Financing Transactions - Defeasance of the FSI 6000 Mortgage Loans” below. (6) 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. During the years ended December 31, 2016 , 2015 and 2014 , the Company incurred interest expense of $10.5 million , $29.5 million and $45.9 million , respectively. Included in interest expense were: (i) the amortization of deferred financing costs of $0.3 million , $1.9 million and $1.5 million for the years ended December 31, 2016 , 2015 and 2014 , respectively, and (ii) the amortization of discounts and premiums on notes payable, which increased interest expense by $0.2 million , $1.3 million and $3.4 million for the years ended December 31, 2016 , 2015 and 2014 . As of December 31, 2015 , $1.7 million of interest was payable. The following summarizes the activity related to notes payable for the year ended December 31, 2016 (in thousands): Total notes payable, net - December 31, 2015 $ 428,222 Principal repayments (263,810 ) Defeasance of notes payable (167,328 ) Write-off of discount on notes payable related to sale 2,260 Write-off of deferred financing costs 105 Amortization of deferred financing costs 324 Amortization of discounts and premiums on notes payable, net 227 Total notes payable, net - December 31, 2016 $ — Significant Financing Transactions Defeasance of the FSI 6000 Mortgage Loans On April 11, 2016, in connection with the disposition of the FSI 6000 Properties, the Company entered into a defeasance agreement with each of the lenders under the FSI 6000A Mortgage Loan, FSI 6000B Mortgage Loan, FSI 6000C Mortgage Loan and FSI 6000D Mortgage Loan (collectively, the “FSI 6000 Mortgage Loans”) to defease the entire aggregate outstanding principal balance of $102.3 million under the FSI 6000 Mortgage Loans, releasing the FSI 6000 Properties, which had secured the FSI 6000 Mortgage Loans. The defeasance costs and write-off of an unamortized discount resulted in an aggregate loss on extinguishment of debt of approximately $6.6 million . Defeasance of the Bank of America - BBD2 Mortgage Loan On April 15, 2016, the Company, through an indirect wholly owned subsidiary, entered into a defeasance agreement with the lender under the Bank of America - BBD2 Mortgage Loan to defease the remaining outstanding principal balance of $65.1 million , releasing all the properties that secured the Bank of America - BBD2 Mortgage Loan. The defeasance costs and write-off of an unamortized discount and unamortized deferred financing costs resulted in a loss on extinguishment of debt of approximately $12.7 million . Early Pay-off of the Pitney Bowes - Bank of America Mortgage Loan On September 1, 2016, the Company repaid the entire $36.2 million principal balance and all other sums due on the Pitney Bowes - Bank of America Mortgage Loan and paid a prepayment premium of $6.5 million . The prepayment premium and write-off of an unamortized discount resulted in an aggregate loss on extinguishment of debt of approximately $7.0 million .

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2016
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 non-financial and financial assets 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 December 31, 2016 and 2015 , which carrying amounts generally do not approximate the fair values (in thousands): December 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loans receivable (1) $ 28,853 $ 22,864 $ 21,779 $ 35,811 $ 27,281 $ 25,218 Financial liabilities: Notes payable $ — $ — $ — $ 431,138 $ 428,222 $ 448,351 _____________________ (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. Low levels of transaction volume for certain financial instruments have made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of value at a future date could be materially different. Assets Recorded at Fair Value During the year ended December 31, 2016 , the Company measured the following assets at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Nonrecurring Basis (1) : Impaired real estate held for investment $ 38,406 $ — $ — $ 38,406 Impaired real estate held for sale 5,799 — — 5,799 Impaired real estate sold 59,293 — — 59,293 _____________________ (1) Amounts represent the aggregate fair value for real estate assets impacted by impairment charges during the year ended December 31, 2016 , as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. As of December 31, 2016 , certain 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 these properties were adjusted to estimated fair values. The Company estimated the fair value for the 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 properties was 8.50% to 12.00% . See Note 3, “Real Estate Held for Investment — Impairment of Real Estate,” for information regarding impairments related to real estate held for investment. As of December 31, 2016 , certain of the Company’s real estate properties held for sale and sold were measured at estimated fair value as these properties were impaired and the carrying values of these properties were adjusted to estimated fair value. The Company estimated the fair value for these impaired real estate properties held for sale and sold based on an estimated sales price, less estimated costs to sell.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has entered into an Advisory Agreement with the Advisor, which 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., KBS Strategic Opportunity REIT II, Inc. and KBS Growth & Income REIT, 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. In June 2015, KBS Growth & Income REIT, Inc. was added to the insurance program at terms similar to those described above. The Company has reviewed its participation in the program and the program is effective through June 30, 2017. During the years ended December 31, 2016 , 2015 and 2014 , no other 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 years ended December 31, 2016 , 2015 and 2014 , respectively, and any related amounts payable as of December 31, 2016 and 2015 (in thousands): Incurred Payable as of Year Ended December 31, December 31, 2016 2015 2014 2016 2015 Expensed Asset management fees (1) $ 7,553 $ 9,547 $ 9,992 $ — $ — Reimbursement of operating expenses (2) 337 269 261 188 68 Disposition fees (3) 8,381 3,244 1,174 — — $ 16,271 $ 13,060 $ 11,427 $ 188 $ 68 _____________________ (1) See “Asset Management Fee for GKK Properties” below. (2) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cybersecurity related expenses incurred by the Advisor 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 $0.3 million , $0.2 million and $0.2 million for the years ended December 31, 2016, 2015 and 2014, respectively. These were the only types of employee costs reimbursed under the Advisory Agreement for the years ended December 31, 2016, 2015 and 2014. 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company’s direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company. Under the Company’s charter, the Company is required to limit its total operating expenses to the greater of 2% of its average invested assets or 25% of its net income for the four most recently completed fiscal quarters, as these terms are defined in the Company’s charter, unless the conflicts committee of the Company’s board of directors has determined that such excess expenses were justified based on unusual and non-recurring factors. Operating expenses for the four fiscal quarters ended December 31, 2016 exceeded the charter-imposed limitation and the conflicts committee of the Company’s board of directors determined that these expenses were justified given the professional fees and expenses the Company incurred related to its exploration of the availability of strategic alternatives and the fees and expenses related to preparation and solicitation of proxies in connection with the Company’s stockholders’ approval of the Plan of Liquidation. (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. See also “ —Modification of Disposition Fee Related to GKK Properties” below. During the year ended December 31, 2016 , the Advisor reimbursed the Company $36,000 for a property insurance rebate and the Advisor and/or the Dealer Manager reimbursed the Company $69,000 for legal and professional fees and travel reimbursements. Asset Management Fee for GKK Properties Among the fees payable to the Advisor is an asset management fee. With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee equal to one-twelfth of 0.75% of the amount actually paid or allocated to acquire the investment, plus the cost of any subsequent development, construction or improvements to the property. This amount includes any portion of the investment that was debt financed and is inclusive of acquisition fees and expenses related thereto. In the case of investments made through joint ventures, the asset management fee is determined based on the Company’s proportionate share of the underlying investment. With respect to investments in loans and any investments other than real estate, the Company pays the Advisor a monthly asset management fee calculated, each month, as one-twelfth of 0.75% of the lesser of (i) the amount actually paid or allocated to acquire or fund the loan or other investment (which amount includes any portion of the investment that was debt financed and is inclusive of acquisition or origination fees and expenses related thereto) and (ii) the outstanding principal amount of such loan or other investment, plus the acquisition or origination fees and expenses related to the acquisition or funding of such investment, as of the time of calculation. With respect to an investment that has suffered an impairment in value, reduction in cash flow or other negative circumstances, such investment may either be excluded from the calculation of the asset management fee described above or included in such calculation at a reduced value that is recommended by the Advisor and Company’s management and then approved by a majority of its independent directors, and this change in the fee shall be applicable to an investment upon the earlier to occur of the date on which (i) such investment is sold, (ii) such investment is surrendered to a person other than the Company, its direct or indirect wholly owned subsidiary or a joint venture or partnership in which it has an interest, (iii) the Advisor determines that it will no longer pursue collection or other remedies related to such investment, or (iv) the Advisor recommends a revised fee arrangement with respect to such investment. As of December 31, 2016 , the Company excluded its interest in an unconsolidated joint venture from the calculation of asset management fees. Through March 31, 2016, the Company calculated the asset management fee for the GKK Properties based on the original cost of its investment in the GKK Mezzanine Loan, rather than on the gross value of the GKK Properties it owns or in which it holds a leasehold interest. Beginning in April 2016, the gross value of the GKK Properties fell below the original cost of the Company’s investment in the GKK Mezzanine Loan and for the period from April 1, 2016 through December 31, 2016 , the Company calculated the asset management fee for these properties based on the gross value of the GKK Properties. As of December 31, 2016 , the Company had not determined to calculate the asset management fee at an adjusted value for any other investments or to exclude any other investments from the calculation of the asset management fee. Modification of Disposition Fee Related to GKK Properties In accordance with the Advisory Agreement, for substantial assistance in connection with the sale of properties, loans or other investments as determined by the conflicts committee of the Company’s board of directors, the Company pays the Advisor or its affiliates a disposition fee of 1% of the contract sales price of the properties, loans or other investments sold. However, in no event may the total commissions (including such disposition fees) paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price of the property, loan or other investment sold or exceed a competitive real estate commission. Prior to August 9, 2016, notwithstanding the foregoing, in January 2015, the disposition fee related to the sales of GKK Properties was modified to provide that the conflicts committee would determine in its sole discretion the amount of the disposition fee related to the sale of GKK Properties upon the terms set forth below, which disposition fee may be an amount not to exceed 1% of the contract sales price, which maximum amount is consistent with the fixed percentage applicable to the sales of other properties, loans and other investments. With respect to sales of the GKK Properties, and provided that the conflicts committee determined that the Advisor had provided a substantial amount of services in connection with the sale of each GKK Property for which the payment of a disposition fee was requested by the Advisor, then: (a) With respect to portfolio or single asset sales of GKK Properties designated by the conflicts committee in its sole discretion at or about the time of the sale, the Company would pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other limitations and conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee would be payable upon the respective closing; and (b) With respect to sales of all other GKK Properties for which a disposition fee had not yet been paid, if, upon the sale of the final GKK Property, the conflicts committee determined in its sole discretion that the Company had recovered its entire investment related to the GKK Mezzanine Loan and the GKK Properties subsequent to the Settlement Agreement, after taking into consideration the net cash flow received by the Company from the investment, whether in the form of (i) net proceeds from the sales or other dispositions or transfers of the GKK Properties, (ii) the net cash flow related to the GKK Mezzanine Loan, (iii) the net cash flow related to the GKK Properties subsequent to the Settlement Agreement and/or (iv) other proceeds related to the assets and liabilities received under the Settlement Agreement, then the Company would pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee would be payable promptly upon such determination by the conflicts committee. On August 9, 2016, the Company and the Advisor entered into an amendment (“Amendment No. 1”) to the Advisory Agreement to amend certain terms related to the disposition fee payable to the Advisor by the Company. Pursuant to Amendment No. 1, with respect to sales of GKK Properties for which a disposition fee had not yet been paid as of August 9, 2016, based on the proceeds received from the entire investment related to the GKK Mezzanine Loan and the GKK Properties through August 9, 2016 and expected proceeds from future sales, the conflicts committee determined that the Advisor had provided a substantial amount of services in connection with the sale of each of the 160 GKK Properties named therein and approved the payment to the Advisor of a disposition fee equal to 1.0% of the aggregate contract sales prices of such GKK Properties, of which the aggregate disposition fee was $2.0 million . The aggregate contract sales price of such 160 GKK Properties was $214.1 million . The $2.0 million disposition fee was paid in August 2016 and was included in the gain on sales of real estate, net in the accompanying consolidated statements of operations for the year ended December 31, 2016 . Also pursuant to Amendment No. 1, for substantial assistance in connection with the sale of all GKK Properties that had not been sold as of August 9, 2016 (as determined by the conflicts committee of the Company’s board of directors), the Company will pay the Advisor or its affiliates a disposition fee of 1.0% of the contract sales price of such GKK Properties sold. However, in no event may the total commissions (including such disposition fees) paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price of the property or other investment sold or exceed a competitive real estate commission. The terms of Amendment No. 1 are included in the November 8, 2016 renewal of the Advisory Agreement.

SUPPLEMENTAL CASH FLOW AND SIGN

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	12 Months Ended
	Dec. 31, 2016
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 Years Ended December 31, 2016 2015 2014 Supplemental Disclosure of Cash Flow Information: Interest paid $ 11,670 $ 26,541 $ 47,095 Supplemental Disclosure of Significant Noncash Investing and Financing Activities: Treasury securities transferred in connection with defeasance of notes payable $ (184,256 ) $ 100,229 $ — Defeasance of notes payable $ 167,328 $ (87,396 ) $ — Investment in a real estate property through deed-in-lieu of foreclosure $ 5,480 $ — $ — Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure $ — $ — $ 54,028 Increase in distributions payable $ — $ — $ 4,699 Increase in capital expenses payable $ — $ — $ 6,004

SEGMENT INFORMATION

SEGMENT INFORMATION	12 Months Ended
	Dec. 31, 2016
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 and received a title to a retail property through a deed-in-lieu of foreclosure. The real estate segment excludes all real estate properties that were classified as discontinued operations. 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. The GKK Properties segment consists of primarily office properties, bank branch properties, operations centers and other properties located in 16 states but excludes GKK Properties that were classified as discontinued operations. 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, asset management fees, 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 and provision for bad debt) less interest expense (if applicable). 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) 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, asset management fees 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. During the year ended December 31, 2014, the Company revised its definition of NOI to exclude asset management fees, which the Company does not consider to be controllable in connection with the management of each property or real estate-related asset and is viewed by the chief operating decision makers as a corporate-level administrative expense. NOI for all prior periods presented has been adjusted to conform to the current period definition. The following tables summarize total revenues, interest expense and NOI for each reportable segment for the years ended December 31, 2016 , 2015 and 2014 , and total assets and total liabilities for each reportable segment as of December 31, 2016 and 2015 (in thousands): Years Ended December 31, 2016 2015 2014 Revenues: Real estate segment (1) $ 61,268 $ 67,536 $ 71,965 Real estate-related segment 2,845 3,089 3,077 GKK Properties segment (1) 65,221 117,595 137,423 Total revenues $ 129,334 $ 188,220 $ 212,465 Interest expense: Real estate segment (1) $ 6,169 $ 8,391 $ 9,613 GKK Properties segment (1) 4,367 21,126 36,310 Total interest expense $ 10,536 $ 29,517 $ 45,923 NOI: Real estate segment (1) $ 29,493 $ 26,882 $ 29,437 Real estate-related segment 2,843 3,087 2,940 GKK Properties segment (1) 17,607 30,004 22,634 Total NOI $ 49,943 $ 59,973 $ 55,011 December 31, 2016 2015 Assets: Real estate segment $ 353,983 $ 355,221 Real estate-related segment 23,295 27,899 GKK Properties segment 80,053 137,921 Total segment assets 457,331 521,041 Real estate held for sale 22,373 522,654 Corporate-level (2) 162,223 11,170 Total assets $ 641,927 $ 1,054,865 Liabilities: Real estate segment $ 8,798 $ 178,911 Real estate-related segment 8 3 GKK Properties segment 33,396 66,208 Total segment liabilities 42,202 245,122 Real estate held for sale 1,909 278,776 Corporate-level (3) 1,384 1,304 Total liabilities $ 45,495 $ 525,202 _____________________ (1) Amounts include certain properties in continuing operations that were sold or held for sale as of December 31, 2016 . See Note 6, “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 $161.6 million and $10.6 million as of December 31, 2016 and 2015 , respectively. (3) As of December 31, 2016 and 2015 , corporate-level liabilities consisted primarily of accounts payable and accrued liabilities for general and administrative expenses. The following table reconciles the Company’s net income (loss) to its NOI for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands): Years Ended December 31, 2016 2015 2014 Net income (loss) $ 90,893 $ (11,387 ) $ (21,266 ) Gain on sales of real estate (159,464 ) (99,988 ) (2,282 ) Gain on sales of real estate securities — — (4,410 ) Loss (gain) from extinguishment of debt 26,343 22,518 (21,328 ) Gain on sales of foreclosed real estate held for sale — (2,509 ) (1,108 ) Other income and interest income (929 ) (1,394 ) (938 ) Asset management fees to affiliate 7,553 9,547 9,975 Foreclosure fees and expenses 278 — — General and administrative expenses 15,971 32,619 18,788 Depreciation and amortization 35,961 59,145 71,613 Impairment charges on real estate 33,419 49,306 10,117 Provision for loan losses — 2,504 1,973 Total income from discontinued operations (82 ) (388 ) (6,123 ) NOI (1) $ 49,943 $ 59,973 $ 55,011 _____________________ (1) Amounts include certain properties in continuing operations that were sold or held for sale as of December 31, 2016 . See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 and 2015 (in thousands, except per share amounts): 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 41,125 $ 34,784 $ 27,290 $ 26,135 Total (loss) income from discontinued operations $ (5 ) $ 83 $ — $ 4 Net income (loss) attributable to common stockholders $ 10,819 $ 61,182 $ (9,294 ) $ 28,186 Income (loss) per common share, basic and diluted $ 0.06 $ 0.33 $ (0.05 ) $ 0.15 Distributions declared per common share (1) $ 0.025 $ 0.025 $ 0.025 $ 0.025 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 49,577 $ 44,966 $ 44,844 $ 48,833 Total income (loss) from discontinued operations $ 168 $ (7 ) $ 305 $ (78 ) Net income (loss) attributable to common stockholders $ 8,589 $ 19,751 $ (47,411 ) $ 7,684 Income (loss) per common share, basic and diluted $ 0.05 $ 0.11 $ (0.25 ) $ 0.03 Distributions declared per common share (1) $ 0.025 $ 0.025 $ 0.025 $ 0.275 ____________________ (1) See Note 2, “Summary of Significant Accounting Policies — Per Share Data” for more information on distributions declared per common share.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2016
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 from 2019 through 2058 and the building leases have expiration dates from 2017 through 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 December 31, 2016 were as follows (in thousands): 2017 $ 11,026 2018 923 2019 869 2020 707 2021 707 Thereafter 26,029 $ 40,261 (1) _____________________ (1) Included in this amount is a total lease obligation of $29.6 million related to a property located in downtown St. Petersburg, Florida. On January 20, 2017, the Company terminated the ground lease at downtown St. Petersburg and paid an aggregate of $10.0 million to settle the remaining obligations under the ground lease. In connection with the leasehold termination, the Company wrote-off the remaining $9.3 million of above-market lease liability balance associated with this lease. If the Company was to dispose of an asset that is subject to a ground lease, the Company may incur additional losses to settle obligations related to the ground lease. 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; the execution of the Plan of Liquidation; 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 also will be dependent on the Property Manager for the Services under the GKK Agreements, as amended, including the operations, leasing and eventual dispositions of the GKK Properties, prior to the sale of substantially all of such 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	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Plan of Liquidation On January 27, 2017, the Company’s stockholders approved the Plan of Liquidation. The principal purpose of the Plan of Liquidation is to maximize stockholder value by selling the Company’s assets, paying its debts and distributing the net proceeds from liquidation to the Company’s stockholders. For more information, see the Plan of Liquidation, which is attached as an exhibit to this Annual Report on Form 10-K. Articles of Amendment On January 27, 2017, the Company’s stockholders approved three amendments to the Company’s charter, which amendments are contained in the Articles of Amendment. The Articles of Amendment were filed with the State Department of Assessments and Taxation of Maryland on January 31, 2017 and were effective as of that date. The Articles of Amendment: (a) eliminate (i) conditions and limitations on the Company’s exculpation and indemnification of its present or former directors and the Advisor and its affiliates and (ii) limitations on the Company’s ability to reimburse its present or former directors and the Advisor or its affiliates for reasonable legal expenses and other costs. The Articles of Amendment provide that the Company shall exculpate and indemnify its present and former directors and officers to the maximum extent permitted by Maryland law and provide the Company the ability to exculpate and indemnify the Advisor and its affiliates pursuant to the terms of the Advisory Agreement between the Company and the Advisor; (b) eliminate the charter requirement to distribute a specific report with audited financial statements, related party and other information to stockholders each year. Although, pursuant to the Articles of Amendment, the Company’s charter no longer requires that its provide audited financial statements to its stockholders, any decision to cease providing audited financial statements to the Company’s stockholders would need to be approved by the board of directors and would require that the SEC grant the Company relief from certain reporting requirements under the Exchange Act; and (c) exclude the distribution of interests in a liquidating trust from the definition of a “roll-up transaction” under the Charter. For more information, see the Articles of Amendment, which are attached as exhibit 99.1 to the Company’s Current Report on Form 8-K filed with the SEC on January 31, 2017. Initial Liquidating Distribution Pursuant to the Plan of Liquidation, on March 10, 2017, the Company’s board of directors authorized an initial liquidating distribution in the amount of $1.00 per share of common stock to the Company’s stockholders of record as of the close of business on March 21, 2017. The initial liquidating distribution was paid on March 24, 2017 and was funded from proceeds from asset sales. March 2017 EVPS On March 27, 2017, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $2.475 (unaudited), effective March 21, 2017 (the “March 2017 EVPS”). The Company provided the March 2017 EVPS for the purpose of assisting broker-dealers that participated in its initial public offering in meeting their customer account statement reporting obligations under National Association of Securities Dealers Conduct Rule 2340 as required by the Financial Industry Regulatory Authority. The March 2017 EVPS is equal to the midpoint of the estimated range of liquidating distributions of $3.27 and $3.68 per share (which midpoint is $3.475 ), reduced for the impact of the payment of the initial liquidating distribution of $1.00 per share of common stock to our stockholders. Thus, the March 2017 EVPS reflects the resulting reduction of the Company’s stockholders’ remaining investment in the Company. This valuation was performed in accordance with the provisions of and also to comply with Practice Guideline 2013-01, Valuations of Publicly Registered, Non-Listed REITs, issued by the Investment Program Association in April 2013, reduced for the impact of liquidation fees and selling costs. For more information relating to the calculation of the March 2017 EVPS, see the Company’s Current Report on Form 8-K, filed with the SEC on March 28, 2017. Disposition of GKK Properties Subsequent to December 31, 2016 Subsequent to December 31, 2016 and through March 27, 2017, the Company sold 59 GKK Properties (of which 28 GKK Properties were classified as held for sale as of December 31, 2016), which had a net book value of $38.5 million as of the date of sale, to buyers unaffiliated with the Company or the Advisor, for an aggregate sales price, net of closing credits, of $59.1 million , excluding closing costs.

SCHEDULE II VALUATION AND QUALI

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	12 Months Ended
	Dec. 31, 2016
Valuation and Qualifying Accounts [Abstract]
SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS	SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (in thousands) Description Balance at Beginning of Year Additions Charged Against Operations Uncollectible Accounts Written-off Balance at End of Year Year Ended December 31, 2016 Allowance for doubtful accounts $ 473 $ 309 $ (301 ) $ 481 Reserve for loan losses 6,498 — (1,402 ) 5,096 Year Ended December 31, 2015 Allowance for doubtful accounts $ 1,051 $ (320 ) $ (258 ) $ 473 Reserve for loan losses 3,994 2,504 — 6,498 Year Ended December 31, 2014 Allowance for doubtful accounts $ 6,385 $ 683 $ (6,017 ) $ 1,051 Reserve for loan losses 2,090 1,973 (69 ) 3,994

SCHEDULE III REAL ESTATE ASSETS

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	Initial Cost to Company Gross Amount at which Carried at Close of Period Description Location Ownership Percent Encumbrances Land Building and Improvements (1) Total Cost Capitalized Subsequent to Acquisition (2) Land Building and Improvements (1) Total (3) Accumulated Depreciation and Amortization Original Date of Construction Date Acquired Properties Held for Investment Plaza in Clayton Saint Louis, MO 100 % $ — $ 2,793 $ 91,162 $ 93,955 $ (1,742 ) $ 2,793 $ 89,420 $ 92,213 $ (25,095 ) 2001 09/27/2006 Bridgeway Technology Center Newark, CA 100 % — 11,299 34,705 46,004 (17,413 ) 7,044 21,547 28,591 (2,372 ) 1996 06/27/2007 Rivertech I and II Billerica, MA 100 % — 3,931 42,111 46,042 (4,151 ) 3,931 37,960 41,891 (10,943 ) 1983/2001,2007 02/20/2008 Tysons Dulles Plaza McLean, VA 100 % — 38,839 121,210 160,049 (34,775 ) 27,989 97,285 125,274 (5,609 ) 1986-1990 06/06/2008 Great Oaks Center Alpharetta, GA 100 % — 7,743 28,330 36,073 (17,561 ) 3,349 15,163 18,512 (1,716 ) 1999 07/18/2008 University Park Buildings Sacramento, CA 100 % — 4,520 22,029 26,549 (15,056 ) 2,403 9,090 11,493 (244 ) 1981 07/31/2008 North Creek Parkway Center Bothell, WA 100 % — 11,200 30,755 41,955 (3,904 ) 9,941 28,110 38,051 (5,357 ) 1986-1987 08/28/2008 City Gate Plaza Sacramento, CA 100 % — 2,880 18,895 21,775 (7,255 ) 1,962 12,558 14,520 (342 ) 1988-1990 11/25/2008 Lawrence Village Plaza (4) New Castle, PA 100 % — 1,608 3,771 5,379 (2,412 ) 965 2,002 2,967 — 1960's / 1970's / 1995 / 2000 05/13/2016 Pleasanton Pleasanton, CA 100 % — 944 448 1,392 58 944 506 1,450 (205 ) 1981 09/01/2011 North Wakefield Drive Newark, DE 100 % — 1,662 10,166 11,828 — 1,662 10,166 11,828 (3,812 ) 1996 09/01/2011 Bridgewater Bridgewater, NJ 100 % — 1,493 2,530 4,023 1,760 1,493 4,290 5,783 (927 ) 1974 / 1980 09/01/2011 Dallas Dallas, NC 100 % — 110 379 489 (264 ) 78 147 225 — 1972 09/01/2011 Farmville Farmville, NC 100 % — 112 892 1,004 (429 ) 101 474 575 — 1965 09/01/2011 Tryon Main Office Tryon, NC 100 % — 87 1,067 1,154 (604 ) 64 486 550 — 1966 09/01/2011 Harborside Jersey City, NJ 100 % — — — — — — — — — 2002 09/01/2011 Downtown St. Petersburg St. Petersburg, FL 100 % — — — — — — — — — 1912 / 1981 09/01/2011 Citizens - Clinton East Main Clinton, CT 100 % — 172 641 813 — 172 641 813 (270 ) 1972 10/24/2011 Citizens - Railroad Avenue Plainfield, CT 100 % — 232 426 658 (116 ) 232 310 542 (80 ) 1980 10/24/2011 Citizens - Shunpike Road Cromwell, CT 100 % — 281 484 765 (49 ) 281 435 716 (156 ) 1976 10/24/2011 Citizens - Columbia Road Dorchester, MA 100 % — 370 1,433 1,803 (788 ) 309 706 1,015 (51 ) 1930 10/24/2011 Citizens - East Boston Square East Boston, MA 100 % — 192 785 977 — 192 785 977 (335 ) 1928 10/24/2011 Citizens - Rogers Road Gloucester, MA 100 % — 251 1,174 1,425 (904 ) 132 389 521 (38 ) 1950 10/24/2011 Citizens - Union Sq - Somerville Somerville, MA 100 % — 647 952 1,599 (13 ) 647 939 1,586 (394 ) 1970 10/24/2011 Citizens - 18 Mile Road Sterling Height, MI 100 % — 207 835 1,042 — 207 835 1,042 (329 ) 1977 10/24/2011 Citizens - Allen Road - Southgate Southgate, MI 100 % — 422 2,949 3,371 (2,954 ) 75 342 417 (9 ) 1973 10/24/2011 Citizens - Ford Road Heights Dearborn Heights, MI 100 % — 494 1,130 1,624 (1,092 ) 210 322 532 (11 ) 1981 10/24/2011 Citizens - Grand River Detroit, MI 100 % — 52 611 663 (149 ) 52 462 514 (159 ) 1920 10/24/2011 Citizens - Greater Mack St. Clair Shores, MI 100 % — 626 1,150 1,776 (159 ) 626 991 1,617 (355 ) 1980 10/24/2011 Citizens - Grosse Pointe Woods Grosse Pointe Woods, MI 100 % — 249 572 821 (440 ) 161 220 381 (17 ) 1955 10/24/2011 Citizens - Joy Road Detroit, MI 100 % — 66 591 657 (561 ) 16 80 96 (6 ) 1957 10/24/2011 Citizens - Main Street - Belleville Belleville, MI 100 % — 181 1,228 1,409 (1,176 ) 37 196 233 (9 ) 1998 10/24/2011 Initial Cost to Company Gross Amount at which Carried at Close of Period Description Location Ownership Percent Encumbrances Land Building and Improvements (1) Total Cost Capitalized Subsequent to Acquisition (2) Land Building and Improvements (1) Total (3) Accumulated Depreciation and Amortization Original Date of Construction Date Acquired Citizens - North Adams Rochester, MI 100 % — $ 227 $ 1,417 $ 1,644 $ — $ 227 $ 1,417 $ 1,644 $ (502 ) 1976 10/24/2011 Citizens - Plymouth Road - Detroit Detroit, MI 100 % — 66 539 605 (480 ) 25 100 125 — Early 1960’s 10/24/2011 Citizens - Roseville Roseville, MI 100 % — 347 906 1,253 (611 ) 251 391 642 — 1981 10/24/2011 Citizens - Schoenherr Warren, MI 100 % — 145 1,088 1,233 (881 ) 59 293 352 (25 ) 1979 10/24/2011 Citizens - West Fort Street Southgate, MI 100 % — 122 1,315 1,437 (622 ) 92 723 815 — 1984 10/24/2011 Citizens - West Maple Bloomfield Hills, MI 100 % — 317 1,675 1,992 — 317 1,675 1,992 (727 ) 1962 10/24/2011 Citizens - Barrington Barrington, NH 100 % — 176 335 511 (139 ) 176 196 372 (34 ) 1985 10/24/2011 Citizens - Coliseum Avenue Nashua, NH 100 % — 206 655 861 (91 ) 206 564 770 (166 ) 1981 10/24/2011 Citizens - One Constitution Way Somersworth, NH 100 % — 135 1,013 1,148 (32 ) 135 981 1,116 (266 ) 1985 10/24/2011 Citizens - Endicott Endicott, NY 100 % — 117 2,001 2,118 (1,967 ) 14 137 151 (7 ) 1927 10/24/2011 Citizens - Glens Falls Glens Falls, NY 100 % — 167 1,234 1,401 (870 ) 95 436 531 (44 ) 1956 10/24/2011 Citizens - Meadow Avenue Newburgh, NY 100 % — 364 1,232 1,596 (133 ) 364 1,099 1,463 (375 ) 1972 10/24/2011 Citizens - Dover Center Road Bay Village, OH 100 % — 196 484 680 (42 ) 196 442 638 (196 ) 1967 10/24/2011 Citizens - East Street - Euclid Euclid, OH 100 % — 86 708 794 — 86 708 794 (259 ) 1975 10/24/2011 Citizens - Fairview Park Fairview Park, OH 100 % — 289 374 663 (43 ) 289 331 620 (155 ) 1966 10/24/2011 Citizens - Girard Girard, OH 100 % — 88 1,091 1,179 (1,094 ) 9 76 85 (2 ) 1977 / 1983 10/24/2011 Citizens - Lake Shore Boulevard Euclid, OH 100 % — 234 622 856 (177 ) 234 445 679 (153 ) 1971 10/24/2011 Citizens - Lorain Road North Olmsted, OH 100 % — 254 599 853 — 254 599 853 (195 ) 1981 10/24/2011 Citizens - Mentor Avenue Mentor, OH 100 % — 690 1,283 1,973 (1,667 ) 155 151 306 — 1958 10/24/2011 Citizens - Navarre Avenue Oregon, OH 100 % — 107 1,015 1,122 — 107 1,015 1,122 (398 ) 1980 10/24/2011 Citizens - Richmond Heights Richmond Heights, OH 100 % — 353 683 1,036 (324 ) 325 387 712 — 2002 10/24/2011 Citizens - Toledo Main Toledo, OH 100 % — 83 664 747 (136 ) 83 528 611 (182 ) 1952 10/24/2011 Citizens - University Heights University Heights, OH 100 % — 426 505 931 (408 ) 288 235 523 (8 ) 1989 / 2002 10/24/2011 Citizens - Westlake Westlake, OH 100 % — 283 596 879 (156 ) 283 440 723 (76 ) 1981 10/24/2011 Citizens - Burgettstown Burgettstown, PA 100 % — 68 1,165 1,233 (1,035 ) 18 180 198 — 1921 10/24/2011 Citizens - Zelienople Zelienople, PA 100 % — 26 1,054 1,080 (745 ) 13 322 335 (20 ) 1920 / 1971 10/24/2011 Citizens - Portsmouth East Main Portsmouth, RI 100 % — 446 518 964 (68 ) 446 450 896 (183 ) 1979 10/24/2011 Citizens - Pearl St - Essex Junction Essex Junction, VT 100 % — 170 415 585 (27 ) 170 388 558 (118 ) 1986 10/24/2011 Total Properties Held for Investment $ 99,851 $ 448,597 $ 548,448 $ (123,897 ) $ 72,985 $ 351,566 $ 424,551 $ (62,932 ) Initial Cost to Company Gross Amount at which Carried at Close of Period Description Location Ownership Percent Encumbrances Land Building and Improvements (1) Total Cost Capitalized Subsequent to Acquisition (2) Land Building and Improvements (1) Total (3) Accumulated Depreciation and Amortization Original Date of Construction Date Acquired Properties Held for Sale Santa Fe-Metro Bank - Main Bldg Santa Fe, NM 100 % — — 1,646 1,646 (115 ) — 1,531 1,531 (534 ) 1972 / 1985 09/01/2011 Park Avenue Wantagh, NY 100 % — 213 360 573 (42 ) 213 318 531 (144 ) 1953 09/01/2011 Citizens - Main Street - Beacon Beacon, NY 100 % — 440 1,247 1,687 (639 ) 394 654 1,048 (30 ) 1955 10/24/2011 Bay - Fair San Leandro, CA 100 % — 913 594 1,507 (90 ) 913 504 1,417 (249 ) 1981 09/01/2011 Bayshore - Main Building Bradentown, FL 100 % — 391 445 836 89 391 534 925 (230 ) 1971 09/01/2011 Crystal River - Main Building Crystal River, FL 100 % — 119 329 448 10 119 339 458 (153 ) 1970 09/01/2011 Midway - Main Building Miami, FL 100 % — 1,401 826 2,227 (492 ) 1,351 384 1,735 (31 ) 1974 09/01/2011 West Sunrise - Main Building Plantation, FL 100 % — 1,060 1,146 2,206 (1,474 ) 525 207 732 (16 ) 1976 09/01/2011 Bergenline Avenue Union City, NJ 100 % — 179 370 549 (179 ) 179 191 370 (132 ) 1970 09/01/2011 Pennsauken Pennsauken, NJ 100 % — 750 794 1,544 (138 ) 750 656 1,406 (365 ) 1966 09/01/2011 Jamaica Jamaica, NY 100 % — 185 953 1,138 (5 ) 185 948 1,133 (260 ) 1960 / 2001 09/01/2011 Gresham - Main Building Gresham, OR 100 % — 374 668 1,042 (252 ) 374 416 790 (235 ) 1978 09/01/2011 Blair Mill Road Horsham, PA 100 % — 1,171 1,794 2,965 3,155 1,171 4,949 6,120 (2,126 ) 1985 09/01/2011 Camas - Main Building Camas, WA 100 % — 386 243 629 (39 ) 386 204 590 (106 ) 1951 09/01/2011 Edmonds - Main Building Edmonds, WA 100 % — 367 348 715 27 367 375 742 (219 ) 1956 09/01/2011 Greenwood - Main Building Seattle, WA 100 % — 104 221 325 12 104 233 337 (132 ) 1948 09/01/2011 Daytona Beach Spdwy - Main Bldg Daytona Beach, FL 100 % — 1,060 638 1,698 (53 ) 1,060 585 1,645 (341 ) 1974 09/01/2011 Redmond - Main Building Redmond, OR 100 % — 50 206 256 (8 ) 50 198 248 (90 ) 1925 / 1982 09/01/2011 Burlington Main Office Burlington, NC 100 % — 213 1,220 1,433 (1,000 ) 175 258 433 (5 ) 1982 09/01/2011 Carolina Beach Carolina Beach, NC 100 % — 194 1,045 1,239 1 195 1,045 1,240 (415 ) 1971 09/01/2011 Elizabethtown Main Elizabethtown, NC 100 % — 71 592 663 (32 ) 71 560 631 (210 ) 1962 09/01/2011 Fayetteville Dwntown Fayetteville, NC 100 % — 216 452 668 (407 ) 146 115 261 (3 ) 1980 09/01/2011 Kenansville Kenansville, NC 100 % — 90 463 553 (48 ) 90 415 505 (156 ) 1970 09/01/2011 Kinston Main Office Kinston, NC 100 % — 136 1,121 1,257 (42 ) 136 1,079 1,215 (338 ) 1982 09/01/2011 Marion Main Office Marion, NC 100 % — 232 1,341 1,573 — 232 1,341 1,573 (429 ) 1982 09/01/2011 Mt Olive Main Office Mount Olive, NC 100 % — 119 404 523 (77 ) 119 327 446 (126 ) 1962 09/01/2011 North Asheville Asheville, NC 100 % — 73 430 503 — 73 430 503 (178 ) 1973 09/01/2011 Pleasant Garden Pleasant Garden, NC 100 % — 97 235 332 (147 ) 97 88 185 (31 ) 1935 09/01/2011 Reidsville Main Office Reidsville, NC 100 % — 160 349 509 (348 ) 123 38 161 — 1900 09/01/2011 Spruce Pine Main Spruce Pine, NC 100 % — 172 953 1,125 (1,051 ) 83 (9 ) 74 (3 ) 1930 09/01/2011 Total Properties Held for Sale $ 10,936 $ 21,433 $ 32,369 $ (3,384 ) $ 10,072 $ 18,913 $ 28,985 $ (7,287 ) TOTAL $ 110,787 $ 470,030 $ 580,817 $ (127,281 ) $ 83,057 $ 370,479 $ 453,536 $ (70,219 ) ____________________ (1) Building and improvements include tenant origination and absorption costs. (2) Costs capitalized subsequent to acquisition is net of impairments and write-offs of fully depreciated/amortized assets. (3) The aggregate cost of real estate for federal income tax purposes was approximately $652.3 million (unaudited) as of December 31, 2016. (4) On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. See Note 5, “Real Estate Loans Receivable.” SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (CONTINUED) December 31, 2016 (dollar amounts in thousands) 2016 2015 2014 Real Estate (1) Balance at the beginning of the year $ 1,023,963 $ 1,311,919 $ 1,460,838 Acquisition — 2,297 — Improvements 20,735 36,816 33,046 Write-off of fully depreciated and fully amortized assets (7,374 ) (18,169 ) (31,954 ) Loss due to property damages (1,033 ) — — Impairments (60,276 ) (85,255 ) (18,902 ) Sales (527,856 ) (223,645 ) (94,562 ) Foreclosures 5,377 — (36,547 ) Balance at the end of the year $ 453,536 $ 1,023,963 $ 1,311,919 Accumulated depreciation and amortization (1) Balance at the beginning of the year $ 163,083 $ 193,408 $ 182,039 Depreciation and amortization expense 33,099 55,995 67,848 Write-off of fully depreciated and fully amortized assets (7,374 ) (18,169 ) (31,954 ) Impairment (27,380 ) (38,916 ) (8,885 ) Sales (91,209 ) (29,235 ) (10,973 ) Foreclosures — — (4,667 ) Balance at the end of the year $ 70,219 $ 163,083 $ 193,408 ____________________ (1) Amounts include properties held for sale.

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	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. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the Securities and Exchange Commission (“SEC”). The consolidated financial statements have been prepared on a going concern basis. Pursuant to the Company’s stockholders approval of the Plan of Liquidation on January 27, 2017, the Company expects to adopt the liquidation basis of accounting commencing with its March 31, 2017 interim period to present information about its expected resources in liquidation by measuring and presenting assets at the amount of the expected cash proceeds from liquidation.
Use of Estimates	The preparation of the consolidated financial statements and the accompanying 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. During the year ended December 31, 2016 , the Company sold 273 properties ( 269 of which were GKK Properties). As of December 31, 2016 , the Company had classified 30 properties as held for sale, all of which were GKK Properties. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented.
Revenue Recognition, Real Estate	The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is reasonably assured and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that the tenant can take in the form of cash or a credit against its rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. 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 Company makes estimates of the collectibility of its tenant receivables related to base rents, including deferred rent receivable, expense reimbursements and other revenue or income. Management specifically analyzes accounts receivable, deferred rent receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectibility of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments. The Company recognizes a gain on sale of real estate upon the closing of a transaction with the purchaser. Gain on real estate sold are recognized using the full accrual method when collectibility of the sales price is reasonably assured, the Company is not obligated to perform additional activities that may be considered significant, the initial investment from the buyer is sufficient and other profit recognition criteria have been satisfied. A gain on sale of real estate may be deferred in whole or in part until the requirements for gain recognition have been met.
Revenue Recognition, Real Estate Loans Receivable	Interest income on the Company’s real estate loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination fees and origination or acquisition costs, as well as acquisition premiums or discounts, are amortized over the term of the loan as an adjustment to interest income. The Company places loans on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reserves for any unpaid accrued interest and generally does not recognize subsequent interest income until cash is received, or the loan returns to accrual status. 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 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 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.
Revenue Recognition, Cash and Cash Equivalents	The Company recognizes interest income on its cash and cash equivalents as it is earned and classifies such amounts as other interest income.
Real Estate, Depreciation and Amortization	Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 15 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods
Real Estate, Real Estate Acquisition Valuation	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. Acquisition costs are expensed as incurred and restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income.
Real Estate, Impairments of Real Estate and Related Intangible Assets and Liabilities	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities.
Real Estate Held for Sale and Discontinued Operations	The Company generally considers non-foreclosed real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Additionally, with respect to properties that were classified as held for sale in financial statements prior to January 1, 2014, the Company records the operating results and gains on sale as discontinued operations for all periods presented if the operations have been or are expected to be eliminated and the Company will not have any significant continuing involvement in the operations of the property following the sale. Operating results related to properties and gains on sale that were disposed of or classified as held for sale in the ordinary course of business during the years ended December 31, 2016, 2015 and 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.
Change in a Plan to Sell	When real estate is initially considered “held for sale” it is measured at the lower of its depreciated book value, or estimated fair value less estimated costs to sell. Changes in the market may compel the Company to decide to reclassify a property that was designated as held for sale to held for investment. A property that is reclassified from held for sale to held for investment or non-sale disposition is measured and recorded individually at the lower of (i) its carrying amount before the property was classified as held for sale, adjusted for any depreciation and amortization expense that would have been recognized had the property been continuously classified as held and used, or (ii) its fair value at the date of the subsequent decision not to sell. Any adjustment to the carrying amount of the property as a result of the reclassification is included in income from continuing operations as an impairment charge on real estate held for investment.
Real Estate Held for Non-Sale Disposition	The Company considers real estate assets that do not meet the criteria to be classified as held for sale but are expected to be disposed of other than by sale as real estate held for non-sale disposition. The assets and liabilities related to real estate held for non-sale disposition are included in the Company’s consolidated balance sheets and the results of operations are presented as part of continuing operations in the Company’s consolidated statements of operations for all periods presented. With respect to properties that were disposed of other than by sale prior to January 1, 2014, the Company records the operating results as discontinued operations for all periods presented. Operating results of properties that were disposed of other than by sale during the year ended December 31, 2014 are included in continuing operations on the Company’s consolidated statements of operations. The Company did not dispose of any properties other than by sale during the year ended December 31, 2016 and 2015.
Real Estate Loan Receivable	The Company’s real estate loans receivable are recorded at amortized cost, net of loan loss reserves, and evaluated for impairment at each balance sheet date. The amortized cost of a real estate loan receivable is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the loan. The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through “Provision for loan losses” on the Company’s consolidated statements of operations and is decreased by charge-offs to specific loans when losses are confirmed. The reserve for loan losses includes a portfolio-based component and an asset-specific component. An asset-specific reserve relates to reserves for losses on loans considered impaired. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. The Company also considers a loan to be impaired if it grants the borrower a concession through a modification of the loan terms or if it expects to receive assets (including equity interests in the borrower) with fair values that are less than the carrying value of the loan in satisfaction of the loan. A reserve is established when the present value of payments expected to be received, observable market prices, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or amounts expected to be received in satisfaction of a loan are lower than the carrying value of that loan. A portfolio-based reserve covers the pool of loans that do not have asset-specific reserves. A provision for loan losses is recorded when available information as of each balance sheet date indicates that it is probable that a loss occurred in the pool of loans and the amount of the loss can be reasonably estimated, but the Company does not know which specific loans within the pool will ultimately result in losses. Required reserve balances for this pool of loans are derived from estimated probabilities of default and estimated loss severities assuming a default occurs. On a quarterly basis, the Company’s management assigns estimated probabilities of default and loss severities to each loan in the portfolio based on factors such as the debt service coverage of the underlying collateral, the estimated fair value of the collateral, the significance of the borrower’s investment in the collateral, the financial condition of the borrower and/or its sponsors, the likelihood that the borrower and/or its sponsors would allow the loan to default, the Company’s willingness and ability to step in as owner in the event of default, and other pertinent factors. Failure to recognize impairments would result in the overstatement of earnings and the carrying value of the Company’s real estate loans receivable. Actual losses, if any, could differ significantly from estimated amounts.
Participation Interest in an Unconsolidated Joint Venture Policy	The Company holds a participation interest with respect to a real estate joint venture. The carrying value of this participation interest as of December 31, 2016 and 2015 was $0 and the Company did not record any income or losses with respect to this participation interest during the years ended December 31, 2016 , 2015 and 2014 .
Cash and Cash Equivalents	The Company considers all short-term (with an original maturity of three months or less), highly-liquid investments utilized as part of the Company’s cash-management activities to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2016 . The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Restricted Cash	Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for security deposits, property taxes, insurance, rent from master lease, letters of credit, debt service obligations and capital improvements and replacements.
Rents and Other Receivables	The Company periodically evaluates the collectibility of amounts due from tenants and maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintains an allowance for deferred rent receivable that arises from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates.
Deferred Financing Costs	Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liabilities. These costs are amortized over the terms of the respective financing agreements using the interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Fair Value Measurements	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 non-financial and financial assets 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. When available, the Company utilizes quoted market prices from independent third-party sources to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. 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. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities.
Share Redemption Program	The Company has a share redemption program pursuant to which stockholders may sell their shares to the Company only in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined in the share redemption program and together with redemptions sought in connection with a stockholder’s death, “Special Redemptions”). Such redemptions are subject to an annual dollar limitation and are further subject to the other limitations described in the share redemption program, including: • During each calendar year, Special Redemptions are limited to an annual amount determined by the board of directors. The annual dollar limitation for the Company’s share redemption program may be reviewed and adjusted from time to time during the year. The dollar limitation for calendar year 2016 was $ 10.0 million in the aggregate. On January 27, 2017, the Company’s board of directors approved an annual dollar limitation of $ 10.0 million in the aggregate for the calendar year 2017 (subject to review and adjustment during the year by the board of directors), and further subject to the limitations described in the share redemption program. • During any calendar year, the Company may redeem no more than 5% of the weighted-average number of shares outstanding during the prior calendar year. • The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. The Company currently does not expect to have funds available for ordinary redemptions in the future. If the Company cannot repurchase all shares presented for redemption in any month because of the limitations on redemptions set forth in the share redemption program, then the Company will honor redemption requests on a pro rata basis, except that if a pro rata redemption would result in a stockholder owning less than the minimum purchase requirement described in the Company’s most recently effective registration statement, as such registration statement has been amended or supplemented, then the Company would redeem all of such stockholder’s shares. In connection with the approval by its stockholders of the Plan of Liquidation, on January 27, 2017, the Company’s board of directors approved the amendment and restatement of the Company’s share redemption program (the “Amended Share Redemption Program”). The Amended Share Redemption Program became effective on February 27, 2017. Prior to effectiveness of the Amended Share Redemption Program on February 27, 2017, the redemption price for all stockholders whose shares were eligible for redemption was equal to the most recent estimated value per share of the Company’s common stock as of the redemption date. On December 8, 2015, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.94 (unaudited), based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2015, with the exception of an adjustment to the Company’s net asset value to give effect to the December 7, 2015 payment of a special distribution of $0.25 per share on the outstanding shares of the Company’s common stock to the stockholders of record as of the close of business on December 1, 2015. For a full description of the methodologies and assumptions used to value the Company’s assets and liabilities in connection with the calculation of the December 2015 estimated value per share, see the Company’s Annual Report on Form 10-K for the year ended December 31, 2015 at Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities — Market Information.” Effective for redemption dates from December 2015 through September 2016, the redemption price for all stockholders whose shares were eligible for redemption was $3.94 per share. On October 5, 2016, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.65 per share (unaudited), based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of June 30, 2016, except for certain items discussed herein in Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities - Market Information,” for which estimated values were adjusted subsequent to June 30, 2016. The redemption price for all shares eligible for redemption was $3.65 per share for redemption dates from October 2016 through December 2016. For a full description of the methodologies and assumptions used to value the Company’s assets and liabilities in connection with the calculation of the October 2016 estimated value per share, see Part II, Item 5, “Market for Registrant’s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities — Market Information.” The Amended Share Redemption Program changes the redemption price per share of the Company’s common stock eligible for redemption to take into account the estimated range of liquidating distributions as disclosed in the Company’s Definitive Proxy Statement, filed with the SEC on November 10, 2016, and any liquidating distributions declared by the Company’s board of directors. The Amended Share Redemption Program sets the redemption price per share of the Company’s common stock eligible for redemption at (a) $3.475 (which represents the mid-point of the estimated range of liquidating distributions of $3.27 to $3.68 per share) less (b) the amount of any liquidating distributions on such share declared by the Company’s board of directors that have a record date prior to the redemption date for such share. Therefore, the redemption price for all shares eligible for redemption on the February 28, 2017 redemption date was equal to $3.475 . Pursuant to the Plan of Liquidation, on March 10, 2017, the Company’s board of directors authorized an initial liquidating distribution in the amount of $1.00 per share of common stock to the Company’s stockholders of record as of the close of business on March 21, 2017. The initial liquidating distribution was paid on March 24, 2017 and was funded from proceeds from asset sales. Therefore, effective commencing with the March 31, 2017 redemption date, the redemption price for all shares eligible for redemption will be equal to $2.475 . Prior to effectiveness of the Amended Share Redemption Program, the Company’s board of directors could amend, suspend or terminate the share redemption program upon 30 days’ notice to its stockholders. The Amended Share Redemption Program changed the notice period for amending, suspending or terminating the program. The Amended Share Redemption Program provides that the Company may amend, suspend or terminate the program for any reason upon 10 (ten) days’ notice to the Company’s stockholders. The Company may provide this notice by including such information in a Current Report on Form 8-K or in the Company’s annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to its stockholders. The Company records amounts that are redeemable under the share redemption program as redeemable common stock in the accompanying consolidated balance sheets because the shares are mandatorily redeemable at the option of the holder pursuant to a Special Redemption and therefore their redemption is outside the control of the Company. Pursuant to the share redemption program, beginning in 2012, the maximum amount redeemable under the Company’s share redemption program is limited to an annual dollar amount determined by the Company’s board of directors, as described above. However, because the amounts that can be redeemed in future periods are determinable and only contingent on an event that is likely to occur (e.g., the passage of time), the Company presents the amounts available for redemptions in future periods as redeemable common stock in the accompanying balance sheets. The Company classifies financial instruments that represent a mandatory obligation of the Company to redeem shares as liabilities. The Company’s redeemable common shares are contingently redeemable at the option of the holder pursuant to a Special Redemption. When shares are tendered for redemption and the Company determines that it has a mandatory obligation to redeem shares under the share redemption program, it will reclassify such obligations from temporary equity to a liability based upon their respective settlement values. The Company limits the dollar value of shares that may be redeemed under the share redemption program as described above. During the year ended December 31, 2016 , the Company redeemed $5.6 million of common stock. The only redemptions the Company made under the share redemption program in 2016 were those that qualified as, and met the requirements for, Special Redemptions. In 2016 , the Company fulfilled all redemption requests that qualified as Special Redemptions under the Company’s share redemption program.
Related Party Transactions	The Company has entered into the Advisory Agreement. This agreement entitles the Advisor to specified fees upon the provision of certain services with regard the management of the Company’s investments, among other services, and the disposition of investments, as well as reimbursement of 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 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 (“AIP Platform”) with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor also serves, and 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., KBS Strategic Opportunity REIT II, Inc. and KBS Growth & Income REIT, Inc. The Company records all related party fees as incurred, subject to any limitations described in the Advisory Agreement. The Company has granted no stock-based compensation awards to the Advisor or its affiliates and it did not incur any subordinated participation in net cash flows or subordinated incentive listing fees during the year ended December 31, 2016 or any previous periods.
Related Party Transactions, Operating Expenses	Under the Advisory Agreement, the Advisor has the right to seek reimbursement from the Company for all costs and expenses it incurs in connection with the provision of services to the Company, including the Company’s allocable share of the Advisor’s overhead, such as rent, employee costs, utilities, accounting software and cybersecurity costs. Commencing July 1, 2010, the Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. In the future, the Advisor may seek reimbursement for additional employee costs. The Company will not reimburse the Advisor for employee costs in connection with services for which the Advisor earns acquisition, origination or disposition fees (other than reimbursement of travel and communication expenses) or for the salaries and benefits the Advisor or its affiliates may pay to the Company’s executive officers.
Related Party Transactions, Asset Management Fee	With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee equal to one-twelfth of 0.75% of the amount actually paid or allocated to acquire the investment, plus the cost of any subsequent development, construction or improvements to the property. This amount includes any portion of the investment that was debt financed and is inclusive of acquisition fees and expenses related thereto. In the case of investments made through joint ventures, the asset management fee will be determined based on the Company’s proportionate share of the underlying investment. With respect to investments in loans and any investments other than real estate, the Company pays the Advisor a monthly fee calculated, each month, as one-twelfth of 0.75% of the lesser of (i) the amount paid or allocated to acquire or fund the loan or other investment (which amount includes any portion of the investment that was debt financed and is inclusive of acquisition or origination fees and expenses related thereto) and (ii) the outstanding principal amount of such loan or other investment, plus the acquisition or origination fees and expenses related to the acquisition or funding of such investment, as of the time of calculation. With respect to an investment that has suffered an impairment in value, reduction in cash flow or other negative circumstances, such investment may either be excluded from the calculation of the asset management fee described above or included in such calculation at a reduced value that is recommended by the Advisor and the Company’s management and then approved by a majority of the Company’s independent directors, and this change in the fee shall be applicable to an investment upon the earlier to occur of the date on which (i) such investment is sold, (ii) such investment is surrendered to a person other than the Company, the Company’s direct or indirect wholly owned subsidiary or a joint venture or partnership in which the Company has an interest, (iii) the Advisor determines that it will no longer pursue collection or other remedies related to such investment, or (iv) the Advisor recommends a revised fee arrangement with respect to such investment. As of December 31, 2016, the Company excluded its interest in an unconsolidated joint venture from the calculation of asset management fees. Through March 31, 2016, the Company calculated the asset management fee for the GKK Properties based on the original cost of its investment in the GKK Mezzanine Loan, rather than on the gross value of the GKK Properties the Company owns or in which the Company holds a leasehold interest. Beginning in April 2016, the gross value of the GKK Properties fell below the original cost of the Company’s investment in the GKK Mezzanine Loan and for the period from April 1, 2016 through December 31, 2016, the Company calculated the asset management fee for these properties based on the gross value of the GKK Properties. As of December 31, 2016, the Company had not determined to calculate the asset management fee at an adjusted value for any other investments or to exclude any other investments from the calculation of the asset management fee.
Related Party Transactions, Disposition Fee	In accordance with the Advisory Agreement, for substantial assistance in connection with the sale of properties, loans or other investments as determined by the conflicts committee of the Company’s board of directors, the Company pays the Advisor or its affiliates a disposition fee of 1% of the contract sales price of the properties, loans or other investments sold. However, in no event may the total commissions (including such disposition fees) paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price of the property, loan or other investment sold or exceed a competitive real estate commission. Prior to August 9, 2016, notwithstanding the foregoing, in January 2015, the disposition fee related to the sales of GKK Properties was modified to provide that the conflicts committee would determine in its sole discretion the amount of the disposition fee related to the sale of GKK Properties upon the terms set forth below, which disposition fee may be an amount not to exceed 1% of the contract sales price, which maximum amount is consistent with the fixed percentage applicable to the sales of other properties, loans and other investments. With respect to sales of the GKK Properties, and provided that the conflicts committee determined that the Advisor had provided a substantial amount of services in connection with the sale of each GKK Property for which the payment of a disposition fee was requested by the Advisor, then: (a) With respect to portfolio or single asset sales of GKK Properties designated by the conflicts committee in its sole discretion at or about the time of the sale, the Company would pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other limitations and conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee would be payable upon the respective closing; and (b) With respect to sales of all other GKK Properties for which a disposition fee had not yet been paid, if, upon the sale of the final GKK Property, the conflicts committee determined in its sole discretion that the Company had recovered its entire investment related to the GKK Mezzanine Loan and the GKK Properties subsequent to the Settlement Agreement, after taking into consideration the net cash flow received by the Company from the investment, whether in the form of (i) net proceeds from the sales or other dispositions or transfers of the GKK Properties, (ii) the net cash flow related to the GKK Mezzanine Loan, (iii) the net cash flow related to the GKK Properties subsequent to the Settlement Agreement and/or (iv) other proceeds related to the assets and liabilities received under the Settlement Agreement, then the Company would pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee would be payable promptly upon such determination by the conflicts committee. On August 9, 2016, the Company and the Advisor entered into an amendment (“Amendment No. 1”) to the Advisory Agreement to amend certain terms related to the disposition fee payable to the Advisor by the Company. Pursuant to Amendment No. 1, with respect to sales of GKK Properties for which a disposition fee had not yet been paid as of August 9, 2016, based on the proceeds received from the entire investment related to the GKK Mezzanine Loan and the GKK Properties through August 9, 2016 and expected proceeds from future sales, the conflicts committee determined that the Advisor had provided a substantial amount of services in connection with the sale of each of the 160 GKK Properties named therein and approved the payment to the Advisor of a disposition fee equal to 1.0% of the aggregate contract sales prices of such GKK Properties, of which the aggregate disposition fee was $2.0 million . The aggregate contract sales price of such 160 GKK Properties was $214.1 million . The $2.0 million disposition fee was paid in August 2016 and was included in the gain on sales of real estate, net in the accompanying consolidated statements of operations for the year ended December 31, 2016 . Also pursuant to Amendment No. 1, for substantial assistance in connection with the sale of all GKK Properties that had not been sold as of August 9, 2016 (as determined by the conflicts committee of the Company’s board of directors), the Company will pay the Advisor or its affiliates a disposition fee of 1.0% of the contract sales price of such GKK Properties sold. However, in no event may the total commissions (including such disposition fees) paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price of the property or other investment sold or exceed a competitive real estate commission. The terms of Amendment No. 1 were included in the Advisory Agreement renewed on November 8, 2016.
Income Taxes	The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended (the “Internal Revenue Code”). To continue to qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to continue to qualify for treatment as a REIT. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for all open tax years through December 31, 2016 . As of December 31, 2016 , returns for the calendar years 2012 through 2015 remain subject to examination by major tax jurisdictions.
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 years ended December 31, 2016 , 2015 and 2014 , respectively. Distributions declared per share of common stock were $0.100 and $0.350 for the years ended December 31, 2016 and 2015 , respectively. Distributions per share of common stock were based on a quarterly record date for each quarter during 2015 and 2016. Additionally, the Company’s board of directors declared a special distribution in the amount of $0.25 per share on the outstanding shares of the Company’s common stock on November 30, 2015 to stockholders of record as of the close of business on December 1, 2015. Distributions declared per share of common stock were $0.050 for the year ended December 31, 2014 . On September 30, 2014, the Company’s board of directions 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. On December 9, 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 December 29, 2014.
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 11, “Segment Information.”
Square Footage, Occupancy and Other Measures	Square footage, occupancy, number of tenants and other measures, or amounts derived from such measures, including annualized base rent and annualized base rent per square foot, used to describe real estate and real estate-related investments included in these Notes to Consolidated Financial Statements are presented on an unaudited basis.
Recently Issued Accounting Standards Update	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 was to be 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. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. As the primary source of revenue for the Company is generated through leasing arrangements, which are scoped out of this standard, the Company does not expect the adoption of ASU No. 2014-09 to have a significant 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. The adoption of ASU No. 2014-15 did not have a significant impact on the Company’s financial statements, although it could require additional disclosures in future periods if conditions or events exist that raise substantial doubt about the Company’s ability to continue as a going concern. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 change the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“ASU No. 2016-13”). ASU No. 2016-13 affects entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments in ASU No. 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU No. 2016-13 also amends the impairment model for available-for-sale securities. An entity will recognize an allowance for credit losses on available-for-sale debt securities as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. ASU No. 2016-13 also requires new disclosures. For financial assets measured at amortized cost, an entity will be required to disclose information about how it developed its allowance for credit losses, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. For financing receivables and net investments in leases measured at amortized cost, an entity will be required to further disaggregate the information it currently discloses about the credit quality of these assets by year of the asset’s origination for as many as five annual periods. For available for sale securities, an entity will be required to provide a roll-forward of the allowance for credit losses and an aging analysis for securities that are past due. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is still evaluating the impact of adopting ASU No. 2016-13 on its financial statements, but does not expect the adoption of ASU No. 2016-13 to have a material impact on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments (“ASU No. 2016-15”). ASU No. 2016-15 is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The amendments in ASU No. 2016-15 provide guidance on eight specific cash flow issues, including the following that are or may be relevant to the Company: (a) Cash payments for debt prepayment or debt extinguishment costs should be classified as cash outflows for financing activities; (b) Cash payments relating to contingent consideration made soon after an acquisition’s consummation date (i.e., approximately three months or less) should be classified as cash outflows for investing activities. Payments made thereafter should be classified as cash outflows for financing activities up to the amount of the original contingent consideration liability. Payments made in excess of the amount of the original contingent consideration liability should be classified as cash outflows for operating activities; (c) Cash payments received from the settlement of insurance claims should be classified on the basis of the nature of the loss (or each component loss, if an entity receives a lump-sum settlement); (d) In the absence of specific guidance, an entity should classify each separately identifiable cash source and use on the basis of the nature of the underlying cash flows. For cash flows with aspects of more than one class that cannot be separated, the classification should be based on the activity that is likely to be the predominant source or use of cash flow. ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is still evaluating the impact of adopting ASU No. 2016-15 on its financial statements, but does not expect the adoption of ASU No. 2016-15 to have a material impact on its financial statements. In November 2016, the FASB issued ASU No. 2016-18, Statement of Cash Flows (Topic 230): Restricted Cash (“ASU No. 2016-18”). ASU No. 2016-18 requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, restricted cash and restricted cash equivalents. Therefore, amounts generally described as restricted cash should be included with cash and cash equivalents when reconciling the beginning of period and end of period total amounts shown on the statement of cash flows. ASU No. 2016-18 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. The Company elected to early adopt ASU No. 2016-18 for the reporting period ended December 31, 2016 and it was applied retrospectively. As a result of the adoption of ASU No. 2016-18, the Company no longer presents the changes within restricted cash in the consolidated statements of cash flows. In January 2017, the FASB issued ASU No. 2017-01, Business Combinations (Topic 805): Clarifying the Definition of a Business (“ASU No. 2017-01”) to add guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. ASU No. 2017-01 provides a screen to determine when an integrated set of assets and activities (collectively referred to as a “set”) is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or a group of similar identifiable assets, the set is not a business. If the screen is not met, ASU No. 2017-01 (1) requires that to be considered a business, a set must include, at a minimum, an input and a substantive process that together significantly contribute to the ability to create output and (2) removes the evaluation of whether a market participant could replace missing elements. ASU No. 2017-01 provides a framework to assist entities in evaluating whether both an input and a substantive process are present. The framework includes two sets of criteria to consider that depend on whether a set has outputs. Although outputs are not required for a set to be a business, outputs generally are a key element of a business; therefore, the FASB has developed more stringent criteria for sets without outputs. ASU No. 2017-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early adoption is permitted. The amendments can be applied to transactions occurring before the guidance was issued (January 5, 2017) as long as the applicable financial statements have not been issued. The Company elected to early adopt ASU No. 2017-01 for the reporting period beginning January 1, 2017. As a result of the adoption of ASU No. 2017-01, the Company’s acquisitions of investment properties beginning January 1, 2017 could qualify as an asset acquisition (as opposed to a business combination). Therefore, transaction costs associated with asset acquisitions will be capitalized, while these costs associated with business combinations will continue to be expensed as incurred.

SUMMARY OF SIGNIFICANT ACCOUN26

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Schedule of Estimated Useful Life	The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Buildings 15 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods

REAL ESTATE HELD FOR INVESTME27

REAL ESTATE HELD FOR INVESTMENT (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate Held for Investment [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s real estate held for investment as of December 31, 2016 and 2015 (in thousands): Land Buildings and Improvements Tenant Origination and Absorption Costs Total Real Estate Held for Investment As of December 31, 2016: Office $ 48,437 $ 251,326 $ 300 $ 300,063 Industrial 10,975 57,672 1,835 70,482 Retail (1) 964 1,653 350 2,967 GKK Properties 12,609 34,290 4,140 51,039 Real estate held for investment, at cost and net of impairment charges $ 72,985 $ 344,941 $ 6,625 $ 424,551 Accumulated depreciation and amortization — (58,120 ) (4,812 ) (62,932 ) Real estate held for investment, net $ 72,985 $ 286,821 $ 1,813 $ 361,619 As of December 31, 2015: Office $ 49,595 $ 245,406 $ 525 $ 295,526 Industrial 10,974 56,451 1,835 69,260 GKK Properties 15,014 47,718 6,597 69,329 Real estate held for investment, at cost and net of impairment charges $ 75,583 $ 349,575 $ 8,957 $ 434,115 Accumulated depreciation and amortization — (50,947 ) (6,005 ) (56,952 ) Real estate held for investment, net $ 75,583 $ 298,628 $ 2,952 $ 377,163 _____________________ (1) On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. See Note 5, “Real Estate Loans Receivable.”
Schedule of Future Minimum Rental Income Under Non-cancelable Operating Leases	The future minimum rental income from the Company’s properties held for investment under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of December 31, 2016 for the years ending December 31 is as follows (in thousands): 2017 $ 51,172 2018 44,353 2019 41,764 2020 37,399 2021 33,532 Thereafter 79,141 $ 287,361
Schedules of Concentration of Risk, by Risk Factor	As of December 31, 2016 , the Company had a concentration of credit risk related to a lease with the following tenant that represented more than 10% of the Company’s annualized base rent: Annualized Base Rent Statistics Tenant Property Tenant Industry Rentable Square Feet % of Portfolio (1) Annualized Base Rent (1) % of Portfolio Annualized Base Rent per Square Foot Lease Expiration Husch Blackwell Plaza in Clayton Legal 198,218 7.4 % $ 6,636 12.0 % $ 33.48 03/31/2022 _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2016 , 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 December 31, 2016 , the Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 30 $ 13,533 24.4 % Legal 12 8,454 15.2 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2016 , 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.

TENANT ORIGINATION AND ABSORP28

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2016
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 December 31, 2016 and 2015 , 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 Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 December 31, 2016 December 31, 2015 Cost, net of impairments $ 6,625 $ 8,957 $ 2,500 $ 3,223 $ (28,183 ) $ (28,464 ) Accumulated amortization (4,812 ) (6,005 ) (2,045 ) (2,332 ) 24,246 20,122 Net amount $ 1,813 $ 2,952 $ 455 $ 891 $ (3,937 ) $ (8,342 )
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 years ended December 31, 2016 , 2015 and 2014 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2016 2015 2014 2016 2015 2014 2016 2015 2014 Amortization $ (4,420 ) $ (11,902 ) $ (16,345 ) $ (1,850 ) $ (3,840 ) $ (3,790 ) $ 7,195 $ 11,032 $ 12,531
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2016 is expected to be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities 2017 $ (941 ) $ (345 ) $ 3,369 2018 (538 ) (102 ) 382 2019 (232 ) (8 ) 181 2020 (50 ) — 5 2021 (18 ) — — Thereafter (34 ) — — $ (1,813 ) $ (455 ) $ 3,937 Weighted-Average Remaining Amortization Period 2.5 years 1.4 years 1.2 years

REAL ESTATE LOANS RECEIVABLE (T

REAL ESTATE LOANS RECEIVABLE (Tables)	12 Months Ended
	Dec. 31, 2016
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	As of December 31, 2016 and 2015 , the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands): Loan Name Location of Related Property or Collateral Date Acquired/ Originated Property Type Loan Type Outstanding Principal Balance as of December 31, 2016 (1) Book Value as of December 31, 2016 (2) Book Value as of December 31, 2015 (2) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date Sandmar Mezzanine Loan Southeast U.S. (4) 01/09/2007 Retail Mezzanine $ 5,074 $ 5,096 $ 5,096 5.4% — % 01/01/2017 Lawrence Village Plaza Loan Origination New Castle, Pennsylvania (5) 08/06/2007 Retail Mortgage — — 6,903 (5) (5) (5) San Diego Office Portfolio B-Note San Diego, California (6) 10/26/2007 Office B-Note 20,000 19,205 18,277 5.8% 11.2 % 10/11/2017 4929 Wilshire B-Note Los Angeles, California 11/19/2007 Office B-Note 3,779 3,659 3,503 6.1% 12.4 % 07/11/2017 $ 28,853 $ 27,960 $ 33,779 Reserve for Loan Losses (7) — (5,096 ) (6,498 ) $ 28,853 $ 22,864 $ 27,281 _____________________ (1) Outstanding principal balance as of December 31, 2016 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 2016, using the interest method, annualized and divided by the average amortized cost basis of the investment during 2016. The contractual interest rates and annualized effective interest rates presented are as of December 31, 2016 . (4) The Company had recorded an asset-specific loan loss reserve against this investment as of December 31, 2016 . See “—Reserve for Loan Losses.” Subsequent to December 31, 2016 , the borrower defaulted on the Sandmar Mezzanine Loan. (5) On September 1, 2015, the Lawrence Village Plaza Loan Origination matured without repayment. On May 13, 2016, the Company received a deed-in-lieu of foreclosure in satisfaction of all amounts due to it under its investment in the Lawrence Village Plaza Loan Origination and received title to the collateral that secured the loan. (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. In addition, Charles J. Schreiber, Jr. (the Company’s Chief Executive Officer, one of the Company’s directors and one of the Company’s sponsors) has served as a member of the board of directors and executive committee of The Irvine Company since August 2016, and since December 2016, Mr. Schreiber has served on the Board of Trustees of The Irvine Company. During the year ended December 31, 2016 , the Company recognized $2.1 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 year ended December 31, 2016 (in thousands): Real estate loans receivable, net - December 31, 2015 $ 27,281 Principal repayments received on real estate loans receivable (76 ) Accretion of discounts on purchased real estate loans receivable 1,175 Amortization of origination fees and costs on purchased and originated real estate loans receivable (36 ) Deed-in-lieu foreclosure of real estate loan receivable (5,480 ) Real estate loans receivable, net - December 31, 2016 $ 22,864
Schedule of Investments in Real Estate Loans Receivable	The following summarizes the Company’s investments in real estate loans receivable as of December 31, 2016 (in thousands): Outstanding principal balance $ 28,853 Discounts on real estate loans receivable (8,060 ) Accumulated accretion of discounts on purchases of real estate loans receivable 7,117 Origination fees and costs on purchases and originations of real estate loans receivable 348 Accumulated amortization of origination fees and costs, net (298 ) Reserve for loan losses (5,096 ) Real estate loans receivable, net - December 31, 2016 $ 22,864
Schedule of Interest Income from Real Estate Loans Receivable	For the years ended December 31, 2016 , 2015 and 2014 , interest income from real estate loans receivable consisted of the following (in thousands): Years Ended December 31, 2016 2015 2014 Contractual interest income $ 1,706 $ 2,073 $ 2,102 Interest accretion 1,175 1,048 1,007 Amortization of origination fees and costs and acquisition costs, net (36 ) (32 ) (32 ) Interest income from real estate loans receivable $ 2,845 $ 3,089 $ 3,077

REAL ESTATE HELD FOR SALE AND30

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2016
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 assets and liabilities related to real estate held for sale as of December 31, 2016 and 2015 (in thousands): December 31, 2016 2015 Assets related to real estate held for sale Total real estate, at cost and net of impairment charges $ 28,985 $ 589,848 Accumulated depreciation and amortization (7,287 ) (106,131 ) Real estate held for sale, net 21,698 483,717 Other assets 675 38,937 Total assets related to real estate held for sale $ 22,373 $ 522,654 Liabilities related to real estate held for sale Notes payable, net — 258,933 Other liabilities 1,909 19,843 Total liabilities related to real estate held for sale $ 1,909 $ 278,776
Schedule of Revenue and Expenses Related to Real Estate Properties	The following table summarizes certain revenues and expenses related to all of these properties, which were included in continuing operations (in thousands): Years Ended December 31, 2016 2015 2014 Revenues Rental income $ 38,710 $ 79,325 $ 97,420 Tenant reimbursements and other operating income 20,535 41,702 50,354 Total revenues 59,245 121,027 147,774 Expenses Operating, maintenance, and management 21,081 44,304 54,097 Real estate taxes and insurance 8,495 16,815 20,373 Asset management fees to affiliate 1,173 2,068 2,518 General and administrative expenses — 48 85 Depreciation and amortization 15,882 40,313 52,921 Interest expense 4,380 21,284 34,444 Impairment of real estate 13,931 29,774 2,424 Total expenses 64,942 154,606 166,862
Schedule of Operating Income from Discontinued Operations	The following table summarizes operating income from discontinued operations for the years ended December 31, 2016 , 2015 and 2014 (in thousands): Years Ended December 31, 2016 2015 2014 Total revenues and other income $ 6 $ 110 $ 2,505 Total expenses (76 ) (154 ) 922 Income from discontinued operations before gain on sales of real estate, net, and impairment charge 82 264 1,583 Gain on sales of real estate, net — 124 4,797 Impairment charge — — (257 ) Income from discontinued operations $ 82 $ 388 $ 6,123

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of December 31, 2016 and 2015 , the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of December 31, 2016 Book Value as of December 31, 2015 Contractual Interest Rates as of December 31, 2016 Effective Interest Rates as of December 31, 2016 Payment Type Maturity Date Notes Payable Plaza in Clayton Mortgage Loan (1) $ — $ 62,200 (1) (1) (1) (1) Portfolio Loan (2) — 164,131 (2) (2) (2) (2) — 226,331 GKK Properties Notes Payable Bank of America - BBD2 Mortgage Loan (3) — 65,712 (3) (3) (3) (3) Pitney Bowes - Bank of America Mortgage Loan (4) — 36,160 (4) (4) (4) (4) FSI 6000D Mortgage Loan (5) — 28,934 (5) (5) (5) (5) FSI 6000B Mortgage Loan (5) — 27,763 (5) (5) (5) (5) FSI 6000A Mortgage Loan (5) — 24,271 (5) (5) (5) (5) FSI 6000C Mortgage Loan (5) — 21,967 (5) (5) (5) (5) — 204,807 Total notes payable principal outstanding — 431,138 Discount on notes payable, net (6) — (2,487 ) Deferred financing costs, net — (429 ) Total notes payable, net $ — $ 428,222 _____________________ (1) On October 6, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Plaza in Clayton Mortgage Loan. (2) On December 1, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Portfolio Loan. (3) On April 15, 2016, the Company, through an indirect wholly owned subsidiary, entered into a defeasance agreement with the lenders under the Bank of America - BBD2 Mortgage Loan. See “Significant Financing Transactions - Defeasance of the Bank of America - BBD2 Mortgage Loan” below. (4) On September 1, 2016, the Company repaid the entire outstanding principal balance due and all other sums due under the Pitney Bowes - Bank of America Mortgage Loan. See “Significant Financing Transactions - Early Pay-off of the Pitney Bowes - Bank of America Mortgage Loan” below. (5) On April 11, 2016, the Company, through indirect wholly owned subsidiaries, entered into a defeasance agreement with each of the lenders under these loans. See “Significant Financing Transactions - Defeasance of the FSI 6000 Mortgage Loans” below. (6) 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 Activity Related to Notes Payable and Repurchase Agreements	The following summarizes the activity related to notes payable for the year ended December 31, 2016 (in thousands): Total notes payable, net - December 31, 2015 $ 428,222 Principal repayments (263,810 ) Defeasance of notes payable (167,328 ) Write-off of discount on notes payable related to sale 2,260 Write-off of deferred financing costs 105 Amortization of deferred financing costs 324 Amortization of discounts and premiums on notes payable, net 227 Total notes payable, net - December 31, 2016 $ —

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2016
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 December 31, 2016 and 2015 , which carrying amounts generally do not approximate the fair values (in thousands): December 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loans receivable (1) $ 28,853 $ 22,864 $ 21,779 $ 35,811 $ 27,281 $ 25,218 Financial liabilities: Notes payable $ — $ — $ — $ 431,138 $ 428,222 $ 448,351 _____________________ (1) Carrying amount of real estate loans receivable includes loan loss reserves.
Fair Value, Assets Measured on Nonrecurring Basis	During the year ended December 31, 2016 , the Company measured the following assets at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Nonrecurring Basis (1) : Impaired real estate held for investment $ 38,406 $ — $ — $ 38,406 Impaired real estate held for sale 5,799 — — 5,799 Impaired real estate sold 59,293 — — 59,293 _____________________ (1) Amounts represent the aggregate fair value for real estate assets impacted by impairment charges during the year ended December 31, 2016 , as of the date that the fair value measurements were made. The carrying value for these real estate assets may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2016
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 years ended December 31, 2016 , 2015 and 2014 , respectively, and any related amounts payable as of December 31, 2016 and 2015 (in thousands): Incurred Payable as of Year Ended December 31, December 31, 2016 2015 2014 2016 2015 Expensed Asset management fees (1) $ 7,553 $ 9,547 $ 9,992 $ — $ — Reimbursement of operating expenses (2) 337 269 261 188 68 Disposition fees (3) 8,381 3,244 1,174 — — $ 16,271 $ 13,060 $ 11,427 $ 188 $ 68 _____________________ (1) See “Asset Management Fee for GKK Properties” below. (2) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cybersecurity related expenses incurred by the Advisor 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 $0.3 million , $0.2 million and $0.2 million for the years ended December 31, 2016, 2015 and 2014, respectively. These were the only types of employee costs reimbursed under the Advisory Agreement for the years ended December 31, 2016, 2015 and 2014. 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company’s direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company. Under the Company’s charter, the Company is required to limit its total operating expenses to the greater of 2% of its average invested assets or 25% of its net income for the four most recently completed fiscal quarters, as these terms are defined in the Company’s charter, unless the conflicts committee of the Company’s board of directors has determined that such excess expenses were justified based on unusual and non-recurring factors. Operating expenses for the four fiscal quarters ended December 31, 2016 exceeded the charter-imposed limitation and the conflicts committee of the Company’s board of directors determined that these expenses were justified given the professional fees and expenses the Company incurred related to its exploration of the availability of strategic alternatives and the fees and expenses related to preparation and solicitation of proxies in connection with the Company’s stockholders’ approval of the Plan of Liquidation. (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. See also “ —Modification of Disposition Fee Related to GKK Properties” below.

SUPPLEMENTAL CASH FLOW AND SI34

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2016
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 Years Ended December 31, 2016 2015 2014 Supplemental Disclosure of Cash Flow Information: Interest paid $ 11,670 $ 26,541 $ 47,095 Supplemental Disclosure of Significant Noncash Investing and Financing Activities: Treasury securities transferred in connection with defeasance of notes payable $ (184,256 ) $ 100,229 $ — Defeasance of notes payable $ 167,328 $ (87,396 ) $ — Investment in a real estate property through deed-in-lieu of foreclosure $ 5,480 $ — $ — Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure $ — $ — $ 54,028 Increase in distributions payable $ — $ — $ 4,699 Increase in capital expenses payable $ — $ — $ 6,004

SEGMENT INFORMATION (Tables)

SEGMENT INFORMATION (Tables)	12 Months Ended
	Dec. 31, 2016
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 years ended December 31, 2016 , 2015 and 2014 , and total assets and total liabilities for each reportable segment as of December 31, 2016 and 2015 (in thousands): Years Ended December 31, 2016 2015 2014 Revenues: Real estate segment (1) $ 61,268 $ 67,536 $ 71,965 Real estate-related segment 2,845 3,089 3,077 GKK Properties segment (1) 65,221 117,595 137,423 Total revenues $ 129,334 $ 188,220 $ 212,465 Interest expense: Real estate segment (1) $ 6,169 $ 8,391 $ 9,613 GKK Properties segment (1) 4,367 21,126 36,310 Total interest expense $ 10,536 $ 29,517 $ 45,923 NOI: Real estate segment (1) $ 29,493 $ 26,882 $ 29,437 Real estate-related segment 2,843 3,087 2,940 GKK Properties segment (1) 17,607 30,004 22,634 Total NOI $ 49,943 $ 59,973 $ 55,011 December 31, 2016 2015 Assets: Real estate segment $ 353,983 $ 355,221 Real estate-related segment 23,295 27,899 GKK Properties segment 80,053 137,921 Total segment assets 457,331 521,041 Real estate held for sale 22,373 522,654 Corporate-level (2) 162,223 11,170 Total assets $ 641,927 $ 1,054,865 Liabilities: Real estate segment $ 8,798 $ 178,911 Real estate-related segment 8 3 GKK Properties segment 33,396 66,208 Total segment liabilities 42,202 245,122 Real estate held for sale 1,909 278,776 Corporate-level (3) 1,384 1,304 Total liabilities $ 45,495 $ 525,202 _____________________ (1) Amounts include certain properties in continuing operations that were sold or held for sale as of December 31, 2016 . See Note 6, “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 $161.6 million and $10.6 million as of December 31, 2016 and 2015 , respectively. (3) As of December 31, 2016 and 2015 , corporate-level liabilities consisted primarily of accounts payable and accrued liabilities for general and administrative expenses.
Reconciliation of Net Income (Loss) to Net Operating Income (Loss)	The following table reconciles the Company’s net income (loss) to its NOI for the years ended December 31, 2016 , 2015 and 2014 (amounts in thousands): Years Ended December 31, 2016 2015 2014 Net income (loss) $ 90,893 $ (11,387 ) $ (21,266 ) Gain on sales of real estate (159,464 ) (99,988 ) (2,282 ) Gain on sales of real estate securities — — (4,410 ) Loss (gain) from extinguishment of debt 26,343 22,518 (21,328 ) Gain on sales of foreclosed real estate held for sale — (2,509 ) (1,108 ) Other income and interest income (929 ) (1,394 ) (938 ) Asset management fees to affiliate 7,553 9,547 9,975 Foreclosure fees and expenses 278 — — General and administrative expenses 15,971 32,619 18,788 Depreciation and amortization 35,961 59,145 71,613 Impairment charges on real estate 33,419 49,306 10,117 Provision for loan losses — 2,504 1,973 Total income from discontinued operations (82 ) (388 ) (6,123 ) NOI (1) $ 49,943 $ 59,973 $ 55,011 _____________________ (1) Amounts include certain properties in continuing operations that were sold or held for sale as of December 31, 2016 . See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.

SELECTED QUARTERLY FINANCIAL 36

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Schedule of Unaudited Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2016 and 2015 (in thousands, except per share amounts): 2016 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 41,125 $ 34,784 $ 27,290 $ 26,135 Total (loss) income from discontinued operations $ (5 ) $ 83 $ — $ 4 Net income (loss) attributable to common stockholders $ 10,819 $ 61,182 $ (9,294 ) $ 28,186 Income (loss) per common share, basic and diluted $ 0.06 $ 0.33 $ (0.05 ) $ 0.15 Distributions declared per common share (1) $ 0.025 $ 0.025 $ 0.025 $ 0.025 2015 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 49,577 $ 44,966 $ 44,844 $ 48,833 Total income (loss) from discontinued operations $ 168 $ (7 ) $ 305 $ (78 ) Net income (loss) attributable to common stockholders $ 8,589 $ 19,751 $ (47,411 ) $ 7,684 Income (loss) per common share, basic and diluted $ 0.05 $ 0.11 $ (0.25 ) $ 0.03 Distributions declared per common share (1) $ 0.025 $ 0.025 $ 0.025 $ 0.275 ____________________ (1) See Note 2, “Summary of Significant Accounting Policies — Per Share Data” for more information on distributions declared per common share.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	12 Months Ended
	Dec. 31, 2016
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 December 31, 2016 were as follows (in thousands): 2017 $ 11,026 2018 923 2019 869 2020 707 2021 707 Thereafter 26,029 $ 40,261 (1) _____________________ (1) Included in this amount is a total lease obligation of $29.6 million related to a property located in downtown St. Petersburg, Florida. On January 20, 2017, the Company terminated the ground lease at downtown St. Petersburg and paid an aggregate of $10.0 million to settle the remaining obligations under the ground lease. In connection with the leasehold termination, the Company wrote-off the remaining $9.3 million of above-market lease liability balance associated with this lease.

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	Nov. 17, 2016USD ($)	Nov. 16, 2016USD ($)	Dec. 19, 2013USD ($)	Dec. 31, 2016USD ($)propertyshares	Dec. 31, 2015USD ($)shares	Dec. 31, 2014USD ($)shares	May 30, 2008USD ($)shares	Jun. 30, 2012USD ($)shares	Dec. 31, 2016USD ($)propertyshares	Dec. 15, 2011property	Sep. 01, 2011property
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 | property				90					90
Number of real estate loans receivable | property				3					3
Redemptions of common stock, value				$ 5,563	$ 6,361	$ 7,890
Property Manager [Member]
Organizational Structure [Line Items]
Agreement for annual fee to be paid for real estate services, amount			$ 7,500
Common Stock [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares | shares							171,109,494
Issuance of common stock, value							$ 1,700,000
Shares of common stock sold under dividend reinvestment plan, shares | shares								28,306,086
Shares of common stock sold under dividend reinvestment plan, value								$ 233,700
Redemptions of common stock, shares | shares				1,428,865	1,431,368	1,771,186			14,450,298
Redemptions of common stock, value				$ 14	$ 15	$ 17			$ 97,400
KBS Capital Advisors LLC [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Shares held by affiliate, shares | shares				20,000					20,000
GPT Realty Management LP (GPT Realty) [Member]
Organizational Structure [Line Items]
Monthly base management fee	$ 550	$ 625
Termination of a leasehold interest of property	$ 1,000
GKK Properties [Member]
Organizational Structure [Line Items]
Number of real estate properties | property										867	867
Number of real estate properties held for sale | property				30					30
GKK Properties [Member] | Minimum [Member]
Organizational Structure [Line Items]
Profit participation interest based on a percentage rate of gross fair value of gross sale price			10.00%
GKK Properties [Member] | Maximum [Member]
Organizational Structure [Line Items]
Profit participation interest based on a percentage rate of gross fair value of gross sale price			30.00%
Accrued income receivable				$ 12,800					$ 12,800
GKK Properties [Member] | Bank Branches [Member]
Organizational Structure [Line Items]
Number of real estate properties | property											576
GKK Properties [Member] | Office Building [Member]
Organizational Structure [Line Items]
Number of real estate properties | property											291

SUMMARY OF SIGNIFICANT ACCOUN39

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reclassifications) (Details) - property	12 Months Ended
	Dec. 31, 2016	Dec. 15, 2011	Sep. 01, 2011
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties disposed	273
Number of real estate properties	90
GKK Properties [Member]
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties disposed	269
Number of real estate properties		867	867
GKK Properties [Member] | Real Estate Held for Sale [Member]
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties	30

SUMMARY OF SIGNIFICANT ACCOUN40

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Useful Life) (Details)	12 Months Ended
	Dec. 31, 2016
Building [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	15 years
Building [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	40 years
Building Improvements [Member] | Minimum [Member]
Property, Plant and Equipment [Line Items]
Useful life	10 years
Building Improvements [Member] | Maximum [Member]
Property, Plant and Equipment [Line Items]
Useful life	25 years
Tenant Improvements [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Shorter of lease term or expected useful life
Tenant Origination and Absorption Costs [Member]
Property, Plant and Equipment [Line Items]
Estimated useful lives	Remaining term of related leases, including below-market renewal periods

SUMMARY OF SIGNIFICANT ACCOUN41

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Investment in Unconsolidated Joint Venture) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Accounting Policies [Abstract]
Participation interest in an unconsolidated joint venture	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUN42

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Share Redemption Program) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2017	Mar. 27, 2017	Mar. 21, 2017	Feb. 28, 2017	Oct. 05, 2016	Dec. 08, 2015	Dec. 07, 2015
Equity, Class of Treasury Stock [Line Items]
Share redemption program, dollar limitation	$ 10,000
Share redemption program, dollar limitation approved in year one	$ 10,000
Maximum percentage of weighted-average shares outstanding available for redemption during any calendar year	5.00%
Estimated value per share of company's common stock (in dollars per share)								$ 3.65	$ 3.94
Special dividends, per share, declared (in dollars per share)										$ 0.25
Redemption price of most recent estimated value per share (in dollars per share)	$ 3.65
Share redemption program, termination period	30 days
Period of termination notice	10 days
Redemptions of common stock, value	$ 5,563	$ 6,361	$ 7,890
Scenario, Forecast [Member]
Equity, Class of Treasury Stock [Line Items]
Liquidation preference per share (in dollars per share)						$ 1
Subsequent Event [Member]
Equity, Class of Treasury Stock [Line Items]
Estimated value per share of company's common stock (in dollars per share)					$ 2.475
Redemption price per share (in dollars per share)				$ 2.475			$ 3.475
Subsequent Event [Member] | Minimum [Member]
Equity, Class of Treasury Stock [Line Items]
Liquidation preference per share (in dollars per share)							3.27
Subsequent Event [Member] | Maximum [Member]
Equity, Class of Treasury Stock [Line Items]
Liquidation preference per share (in dollars per share)							$ 3.68

SUMMARY OF SIGNIFICANT ACCOUN43

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Related Party Transactions and Fees) (Details) $ in Millions	Aug. 09, 2016USD ($)	Dec. 31, 2016property	Jan. 15, 2015	Dec. 15, 2011property	Sep. 01, 2011property
Related Party Transaction [Line Items]
Property management fee, percent fee		0.75%
Number of real estate properties | property		90
Disposition fee as percent			1.00%
GKK Properties [Member]
Related Party Transaction [Line Items]
Number of real estate properties | property				867	867
Disposition fees | $	$ 2
Sales of real estate | $	$ 214.1
KBS Capital Advisors LLC or Affiliates [Member]
Related Party Transaction [Line Items]
Selling commissions fees paid, percent of sales price		1.00%
KBS Capital Advisors LLC or Affiliates [Member] | Maximum [Member] | GKK Properties [Member]
Related Party Transaction [Line Items]
Selling commissions fees paid, percent of sales price		1.00%
KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Monthly asset management fee, percent of acquisition expense		0.0625%
KBS Capital Advisors LLC, Affiliates or Unaffiliated Third Parties [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Selling commissions fees paid, percent of sales price		6.00%

SUMMARY OF SIGNIFICANT ACCOUN44

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Per Share Data) (Details) - $ / shares	Nov. 30, 2015	Dec. 09, 2014	Sep. 30, 2014	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Abstract]
Distributions declared per common share (in dollars per share)	$ 0.25	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.275	$ 0.025	$ 0.025	$ 0.025	$ 0.10	$ 0.35	$ 0.050

REAL ESTATE HELD FOR INVESTME45

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details) ft² in Millions	Dec. 31, 2016ft²stateproperty	Dec. 15, 2011property	Sep. 01, 2011property
Real Estate Properties [Line Items]
Rentable square feet | ft²	3
Percentage of real estate portfolio occupied	88.00%
Number of states in which entity operates (in states) | state	18
Number of real estate properties | property	90
GKK Properties [Member]
Real Estate Properties [Line Items]
Rentable square feet | ft²	0.9
Percentage of real estate portfolio occupied	85.00%
Number of real estate properties | property		867	867

REAL ESTATE HELD FOR INVESTME46

REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	$ 424,551	$ 434,115
Accumulated depreciation and amortization	(62,932)	(56,952)
Total real estate held for investment, net	361,619	377,163
Office Building [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	300,063	295,526
Industrial [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	70,482	69,260
Retail [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	2,967
GKK Properties [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	51,039	69,329
Land [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	72,985	75,583
Accumulated depreciation and amortization	0	0
Total real estate held for investment, net	72,985	75,583
Land [Member] | Office Building [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	48,437	49,595
Land [Member] | Industrial [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	10,975	10,974
Land [Member] | Retail [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	964
Land [Member] | GKK Properties [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	12,609	15,014
Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	344,941	349,575
Accumulated depreciation and amortization	(58,120)	(50,947)
Total real estate held for investment, net	286,821	298,628
Buildings and Improvements [Member] | Office Building [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	251,326	245,406
Buildings and Improvements [Member] | Industrial [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	57,672	56,451
Buildings and Improvements [Member] | Retail [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	1,653
Buildings and Improvements [Member] | GKK Properties [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	34,290	47,718
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	6,625	8,957
Accumulated depreciation and amortization	(4,812)	(6,005)
Total real estate held for investment, net	1,813	2,952
Tenant Origination and Absorption Costs [Member] | Office Building [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	300	525
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	1,835	1,835
Tenant Origination and Absorption Costs [Member] | Retail [Member]
Real Estate Properties [Line Items]
Real estate held for investment, at cost and net of impairment charges	350
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	$ 4,140	$ 6,597

REAL ESTATE HELD FOR INVESTME47

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2016USD ($)tenant	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Operating Leased Assets [Line Items]
Recognition of deferred revenue, net of discontinued operations	$ 1.8	$ 2.5	$ 3.4
Amortization of lease incentives	1.2	1.4	1.4
Deferred rent receivables	19	16.3
Unamortized lease incentives	4.6	4.2
Liabilities related to potential loss contingencies	$ 2
Number of tenants (in tenants) | tenant	160
Bad debt reserve	$ 0.5	0.5
Provision of doubtful accounts, net of discontinued operations	0.3	(0.1)	$ 0.5
Other Liabilities [Member]
Operating Leased Assets [Line Items]
Security deposit liability	$ 2.4	$ 3.2
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease term	13 years 6 months
Maximum [Member] | GKK Properties [Member]
Operating Leased Assets [Line Items]
Operating lease term	9 years 9 months 18 days
Weighted Average [Member]
Operating Leased Assets [Line Items]
Operating lease term	3 years 10 months 24 days
Weighted Average [Member] | GKK Properties [Member]
Operating Leased Assets [Line Items]
Operating lease term	1 year 10 months 24 days

REAL ESTATE HELD FOR INVESTME48

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) $ in Thousands	Dec. 31, 2016USD ($)
Real Estate Held for Investment [Abstract]
2,017	$ 51,172
2,018	44,353
2,019	41,764
2,020	37,399
2,021	33,532
Thereafter	79,141
Future minimum rental income	$ 287,361

REAL ESTATE HELD FOR INVESTME49

REAL ESTATE HELD FOR INVESTMENT (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants (in tenants)	160
Industry - Finance [Member]
Concentration Risk [Line Items]
Number of Tenants (in tenants)	30
Annualized Base Rent | $	$ 13,533
Percentage of Annualized Base Rent	24.40%
Industry - Legal [Member]
Concentration Risk [Line Items]
Number of Tenants (in tenants)	12
Annualized Base Rent | $	$ 8,454
Percentage of Annualized Base Rent	15.20%

REAL ESTATE HELD FOR INVESTME50

REAL ESTATE HELD FOR INVESTMENT (Concentration of Credit Risk, Tenant Lease that Represents More than 10% of Annualized Base Rent) (Details) $ in Thousands	Dec. 31, 2016USD ($)ft²$ / ft²
Concentration Risk [Line Items]
Rentable Square Feet	3,000,000
Tenant Lease - Husch Blackwell [Member]
Concentration Risk [Line Items]
Rentable Square Feet	198,218
% of Portfolio Rentable Sq. Ft. Leased	7.40%
Annualized Base Rent | $	$ 6,636
% of Portfolio Annualized Base Rent	12.00%
Annualized Base Rent per Square Foot (in dollars per unit) | $ / ft²	33.48

REAL ESTATE HELD FOR INVESTME51

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details) - Assets, Total [Member]	12 Months Ended
	Dec. 31, 2016
Virginia [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	18.60%
Missouri [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	10.50%

REAL ESTATE HELD FOR INVESTME52

REAL ESTATE HELD FOR INVESTMENT (Impairment of Real Estate) (Details)	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)ft²property	Dec. 31, 2014USD ($)
Investment [Line Items]
Impairment charge	$ 33,419,000	$ 49,306,000	$ 10,117,000
Assets Held-for-Investment [Member]
Investment [Line Items]
Impairment charge	$ 19,500,000	$ 48,400,000
Number of real estate properties included in impairment calculation | property	25	10
Assets Held-for-Investment [Member] | City Gate Plaza [Member]
Investment [Line Items]
Impairment charge	$ 3,300,000
Assets Held-for-Investment [Member] | University Park Buildings [Member]
Investment [Line Items]
Impairment charge	3,200,000
Assets Held-for-Investment [Member] | Lawrence Village Plaza [Member]
Investment [Line Items]
Impairment charge	$ 2,000,000
Assets Held-for-Investment [Member] | GKK Properties [Member]
Investment [Line Items]
Number of real estate properties included in impairment calculation | property	22
Assets Held-for-Investment [Member] | GKK Properties [Member] | Citizen Bank Portfolio [Member]
Investment [Line Items]
Impairment charge	$ 10,600,000
Number of real estate properties included in impairment calculation | property	19
Assets Held-for-Investment [Member] | GKK Properties [Member] | Pitney Bowes - Bank of America Portfolio [Member]
Investment [Line Items]
Impairment charge	$ 400,000
Number of real estate properties included in impairment calculation | property	3
Assets Held-for-sale [Member]
Investment [Line Items]
Impairment charge	$ 13,900,000
Assets Held-for-sale [Member] | University Park Buildings [Member]
Investment [Line Items]
Impairment charge		$ 3,400,000
Net Rentable Area Occupied | ft²		36,377
Net Rentable Area Occupied, Percent		28.00%
Assets Held-for-sale [Member] | Other Property [Member]
Investment [Line Items]
Impairment charge		$ 500,000
Number of real estate properties included in impairment calculation | property		5
Assets Held-for-sale [Member] | Other Property [Member] | Maximum [Member]
Investment [Line Items]
Amount of impairment of real estate per individual property		$ 250,000
Assets Held-for-sale [Member] | Woodfield Preserve Office Center [Member]
Investment [Line Items]
Impairment charge		$ 24,800,000
Net Rentable Area Occupied | ft²		51,616
Net Rentable Area Occupied, Percent		8.00%
Assets Held-for-sale [Member] | Tysons Dulles Plaza [Member]
Investment [Line Items]
Impairment charge		$ 15,700,000
Assets Held-for-sale [Member] | 69 State Street [Member]
Investment [Line Items]
Impairment charge		2,000,000
Assets Held-for-sale [Member] | Las Vegas Ops Center [Member]
Investment [Line Items]
Impairment charge		$ 2,000,000
Assets Held-for-sale [Member] | GKK Properties [Member]
Investment [Line Items]
Number of real estate properties included in impairment calculation | property	43
Assets Held-for-sale [Member] | GKK Properties [Member] | Other Property [Member]
Investment [Line Items]
Number of real estate properties included in impairment calculation | property		4

TENANT ORIGINATION AND ABSORP53

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Schedule of Net Amounts) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Acquired Finite-Lived Intangible Assets [Line Items]
Tenant Origination and Absorption Costs, Cost, net of impairments	$ 6,625	$ 8,957
Tenant Origination and Absorption Costs, Accumulated amortization	(4,812)	(6,005)
Tenant Origination and Absorption Costs, Net amount	1,813	2,952
Above-Market Lease Assets, Cost, net of impairments	2,500	3,223
Above-Market Lease Assets, Accumulated amortization	(2,045)	(2,332)
Above-Market Lease Assets, Net amount	455	891
Below-Market Lease Liabilities, Cost, net of impairments	(28,183)	(28,464)
Below-Market Lease Liabilities, Accumulated amortization	24,246	20,122
Below-Market Lease Liabilities, Net amount	(3,937)	(8,342)
Tenant Origination and Absorption Costs, Amortization	(4,420)	(11,902)	$ (16,345)
Above-Market Lease Assets, Amortization	(1,850)	(3,840)	(3,790)
Below-Market Lease Liabilities, Amortization	$ 7,195	$ 11,032	$ 12,531

TENANT ORIGINATION AND ABSORP54

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Remaining Unamortized Balance) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
2,017	$ 3,369
2,018	382
2,019	181
2,020	5
2,021	0
Thereafter	0
Net Amount	$ 3,937
Tenant Origination and Absorption Costs [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	2 years 6 months
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	$ (941)
2,018	(538)
2,019	(232)
2,020	(50)
2,021	(18)
Thereafter	(34)
Net Amount	$ (1,813)
Above Market Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	1 year 4 months 24 days
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2,017	$ (345)
2,018	(102)
2,019	(8)
2,020	0
2,021	0
Thereafter	0
Net Amount	$ (455)
Below Market Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted-Average Remaining Amortization Period	1 year 2 months 12 days

REAL ESTATE LOANS RECEIVABLE (S

REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding principal balance	$ 28,853
Book Value	27,960	$ 33,779
Reserve for loan losses	(5,096)	(6,498)
Book Value	22,864	27,281
Investment income, interest	2,845	3,089	$ 3,077
Interest receivable	100	100
Sandmar Mezzanine Loan Southeast U.S. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Book Value	$ 0
Mezzanine [Member] | Sandmar Mezzanine Loan Southeast U.S. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Acquired/ Originated	Jan. 9, 2007
Outstanding principal balance	$ 5,074
Book Value	$ 5,096	5,096
Contractual Interest Rate	5.40%
Annualized Effective Interest Rate	0.00%
Maturity Date	Jan. 1, 2017
Mortgages [Member] | Lawrence Village Plaza Loan Origination New Castle, Pennsylvania [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Acquired/ Originated	Aug. 6, 2007
Outstanding principal balance	$ 0
Book Value	$ 0	6,903
B-Note [Member] | San Diego Office Portfolio B-Note San Diego, California [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Acquired/ Originated	Oct. 26, 2007
Outstanding principal balance	$ 20,000
Book Value	$ 19,205	18,277
Contractual Interest Rate	5.80%
Annualized Effective Interest Rate	11.20%
Maturity Date	Oct. 11, 2017
Investment income, interest	$ 2,100
B-Note [Member] | 4929 Wilshire B-Note Los Angeles, California [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Acquired/ Originated	Nov. 19, 2007
Outstanding principal balance	$ 3,779
Book Value	$ 3,659	$ 3,503
Contractual Interest Rate	6.10%
Annualized Effective Interest Rate	12.40%
Maturity Date	Jul. 11, 2017

REAL ESTATE LOANS RECEIVABLE 56

REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate Loans Receivable [Roll Forward]
Real estate loans receivable, net - December 31, 2015	$ 27,281
Principal repayments received on real estate loans receivable	(76)
Accretion of discounts on purchased real estate loans receivable	1,175
Amortization of origination fees and costs on purchased and originated real estate loans receivable	(36)	$ (32)	$ (32)
Deed-in-lieu foreclosure of real estate loan receivable	(5,480)
Real estate loans receivable, net - December 31, 2016	$ 22,864	$ 27,281

REAL ESTATE LOANS RECEIVABLE 57

REAL ESTATE LOANS RECEIVABLE (Schedule of Investments in Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Receivables [Abstract]
Outstanding principal balance	$ 28,853
Discounts on real estate loans receivable	(8,060)
Accumulated accretion of discounts on purchases of real estate loans receivable	7,117
Origination fees and costs on purchases and originations of real estate loans receivable	348
Accumulated amortization of origination fees and costs, net	(298)
Reserve for loan losses	(5,096)	$ (6,498)
Book Value	$ 22,864	$ 27,281

REAL ESTATE LOANS RECEIVABLE 58

REAL ESTATE LOANS RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Receivables [Abstract]
Contractual interest income	$ 1,706	$ 2,073	$ 2,102
Interest accretion	1,175	1,048	1,007
Amortization of origination fees and costs and acquisition costs, net	(36)	(32)	(32)
Interest income from real estate loans receivable	2,845	3,089	3,077
Accounts, Notes, Loans and Financing Receivable [Line Items]
Book value	22,864	27,281
Sandmar Mezzanine Loan Southeast U.S. [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Book value	0
Interest income related to impaired loans	100	100	200
Lawrence Village Plaza Loan Origination [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest income related to impaired loans	$ 200	$ 600	$ 600

REAL ESTATE LOANS RECEIVABLE (R

REAL ESTATE LOANS RECEIVABLE (Reserve for Loan Losses) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Mortgage Loans on Real Estate [Line Items]
Reserve for loan losses	$ 5,096	$ 6,498
Sandmar Mezzanine Loan [Member]
Mortgage Loans on Real Estate [Line Items]
Reserve for loan losses	5,100
Mortgage loans on real estate, amortized cost basis	$ 5,100

REAL ESTATE HELD FOR SALE AND60

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Aug. 09, 2016property	Dec. 15, 2011property	Sep. 01, 2011property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed	273
Number of real estate properties	90
Number of real estate properties disposed with a deed-in-lieu of foreclosure			5
Real estate held for sale, net | $	$ 21,698	$ 483,717
Impairment charges on discontinued operations | $	$ 0	$ 0	$ 257
Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed	273	34	2
Disposed of by Sale [Member] | 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	3	4
Disposed of by 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 disposed	269	31
GKK Properties [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed	269
Number of real estate properties with terminated leasehold interest	2	3
Number of real estate properties					867	867
Additional number of real estate properties disposed		30	2
Number of real estate properties classified as held for sale during period	30
GKK Properties [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties				160
GKK Properties [Member] | Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties	30

REAL ESTATE HELD FOR SALE AND61

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 ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Total real estate, at cost and net of impairment charges	$ 28,985	$ 589,848
Accumulated depreciation and amortization	(7,287)	(106,131)
Real estate held for sale, net	21,698	483,717
Other assets	675	38,937
Total assets related to real estate held for sale	22,373	522,654
Notes payable	0	258,933
Other liabilities	1,909	19,843
Total liabilities related to real estate held for sale	$ 1,909	$ 278,776

REAL ESTATE HELD FOR SALE AND62

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Revenue and Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rental income									$ 97,383	$ 135,117	$ 151,351
Tenant reimbursements and other operating income									26,977	47,217	54,366
Total revenues	$ 26,135	$ 27,290	$ 34,784	$ 41,125	$ 48,833	$ 44,844	$ 44,966	$ 49,577	129,334	188,220	212,465
Operating, maintenance, and management									52,857	75,034	84,288
Real estate taxes and insurance									15,998	23,696	27,243
Asset management fees to affiliate									7,553	9,547	9,975
General and administrative expenses									15,971	32,619	18,788
Depreciation and amortization									35,961	59,145	71,613
Interest expense									10,536	29,517	45,923
Impairment charge									33,419	49,306	10,117
Total expenses									172,573	281,368	269,920
GKK Properties [Member] | Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Rental income									38,710	79,325	97,420
Tenant reimbursements and other operating income									20,535	41,702	50,354
Total revenues									59,245	121,027	147,774
Operating, maintenance, and management									21,081	44,304	54,097
Real estate taxes and insurance									8,495	16,815	20,373
Asset management fees to affiliate									1,173	2,068	2,518
General and administrative expenses									0	48	85
Depreciation and amortization									15,882	40,313	52,921
Interest expense									4,380	21,284	34,444
Impairment charge									13,931	29,774	2,424
Total expenses									$ 64,942	$ 154,606	$ 166,862

REAL ESTATE HELD FOR SALE AND63

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Operating Income from Discontinued Operations) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]
Total revenues and other income									$ 6	$ 110	$ 2,505
Total expenses									(76)	(154)	922
Income from discontinued operations before gain on sales of real estate, net, and impairment charge									82	264	1,583
Gain on sales of real estate, net									0	124	4,797
Impairment charge									0	0	(257)
Total income from discontinued operations	$ 4	$ 0	$ 83	$ (5)	$ (78)	$ 305	$ (7)	$ 168	$ 82	$ 388	$ 6,123

REAL ESTATE HELD FOR SALE AND64

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Foreclosures and Dispositions) (Details) $ in Thousands	Apr. 11, 2016USD ($)ft²property	Dec. 31, 2016USD ($)property	Dec. 31, 2015USD ($)unit	Dec. 31, 2014USD ($)unit
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Gain on sales of foreclosed real estate held for sale		$ 0	$ 2,509	$ 1,108
Number of real estate properties | property		90
FSI 6000 Properties [Member] | Bank Branches [Member] | Disposed of by Sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | property	61
Net rentable area | ft²	245,843
Sales of real estate	$ 139,600
Payment received for cost and expenses in disposition	$ 6,600
Tribeca Building [Member] | Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of residential units sold, included in disposition fees (in units) | unit			2	1
Gain on sales of foreclosed real estate held for sale			$ 2,500	$ 1,100
Disposition fees			200	400
Foreclosed real estate expense			$ 300	$ 1,200
Tribeca Building [Member] | Residential Real Estate [Member] | Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of residential units sold, included in disposition fees (in units) | unit				26
Tribeca Building [Member] | Retail Space [Member] | Assets Held-for-sale [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of residential units sold, included in disposition fees (in units) | unit				2

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Interest expense	$ 10,536	$ 29,517	$ 45,923
Amortization of financing cost, net of discontinued operations	300	1,900	1,500
Amortization of discounts and premiums on notes payable, net	227	1,333	3,371
Interest payable		1,700
Notes Payable [Member]
Debt Instrument [Line Items]
Amortization of discounts and premiums on notes payable, net	$ 200	$ 1,300	$ 3,400

NOTES PAYABLE (Schedule of Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 0	$ 431,138
Discount on notes payable, net	0	(2,487)
Deferred financing costs, net	0	(429)
Total notes payable, net	0	428,222
Mortgage Loans on Real Estate [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	226,331
Mortgage Loans on Real Estate [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	204,807
Mortgage Loans on Real Estate [Member] | Plaza in Clayton Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	62,200
Mortgage Loans on Real Estate [Member] | Portfolio Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	164,131
Mortgage Loans on Real Estate [Member] | Bank of America - BBD2 Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	65,712
Mortgage Loans on Real Estate [Member] | Pitney Bowes - Bank of America Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	36,160
Mortgage Loans on Real Estate [Member] | FSI 6000D Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	28,934
Mortgage Loans on Real Estate [Member] | FSI 6000B Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	27,763
Mortgage Loans on Real Estate [Member] | FSI 6000A Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	0	24,271
Mortgage Loans on Real Estate [Member] | FSI 6000C Mortgage Loan [Member] | GKK Properties [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 0	$ 21,967

NOTES PAYABLE (Schedule of Acti

NOTES PAYABLE (Schedule of Activity Related to Notes Payable) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Activity Related to Notes Payable [Roll Forward]
Total notes payable, net - December 31, 2015	$ 428,222
Principal repayments	(263,810)
Defeasance of notes payable	(167,328)	$ 87,396	$ 0
Write-off of discount on notes payable related to sale	2,260
Write-off of deferred financing costs	105
Amortization of deferred financing costs	324	1,873	1,581
Amortization of discounts and premiums on notes payable, net	227	1,333	$ 3,371
Total notes payable, net - December 31, 2016	$ 0	$ 428,222

NOTES PAYABLE (Significant Fina

NOTES PAYABLE (Significant Financing Transactions) (Details) - USD ($) $ in Thousands	Sep. 01, 2016	Apr. 15, 2016	Apr. 11, 2016	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Loss on extinguishment of debt				$ 26,343	$ 22,518	$ (21,328)
FSI 6000 Mortgage Loan [Member]
Debt Instrument [Line Items]
Defease amount of outstanding principal balance			$ 102,300
Loss on extinguishment of debt			$ 6,600
Bank of America - BBD2 Mortgage Loan [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt		$ 12,700
Outstanding principal balance		$ 65,100
Pitney Bowes - Bank of America Mortgage Loan [Member]
Debt Instrument [Line Items]
Loss on extinguishment of debt	$ 7,000
Extinguishment of debt	36,200
Prepayment premium	$ 6,500

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate loans receivable, Face Value	$ 28,853,000	$ 35,811,000
Notes payable, Face Value	0	431,138,000
Carrying Amount [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate loans receivable, Value	22,864,000	27,281,000
Notes payable, Value	0	428,222,000
Fair Value [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate loans receivable, Value	21,779,000	25,218,000
Notes payable, Value	$ 0	$ 448,351,000

FAIR VALUE DISCLOSURES (Sched70

FAIR VALUE DISCLOSURES (Schedule of Assets at Fair Value, Nonrecurring Basis) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	$ 33,419	$ 49,306	$ 10,117
Nonrecurring Basis [Member] | Assets Held-for-Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	38,406
Nonrecurring Basis [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	5,799
Nonrecurring Basis [Member] | Disposed of by Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	59,293
Nonrecurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Assets Held-for-Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member] | Disposed of by Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Assets Held-for-Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Significant Other Observable Inputs (Level 2) [Member] | Disposed of by Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	0
Nonrecurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Assets Held-for-Investment [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	38,406
Nonrecurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Assets Held-for-sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	5,799
Nonrecurring Basis [Member] | Significant Unobservable Inputs (Level 3) [Member] | Disposed of by Sale [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impairment charge	$ 59,293

FAIR VALUE DISCLOSURES (Narrati

FAIR VALUE DISCLOSURES (Narrative) (Details) - Assets Held-for-Investment [Member] - Discounted Cash Flow [Member]	Dec. 31, 2016
Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal capitalization rates	8.50%
Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Terminal capitalization rates	12.00%

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) $ in Thousands	Aug. 09, 2016USD ($)property	Dec. 31, 2016USD ($)property	Jan. 15, 2015	May 18, 2012USD ($)	Dec. 15, 2011property	Sep. 01, 2011property
Related Party Transaction [Line Items]
Disposition fee as percent			1.00%
Number of real estate properties | property		90
KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Disposition fee as percent			1.00%
Selling commissions fees paid, percent of sales price			6.00%
GKK Properties [Member]
Related Party Transaction [Line Items]
Number of real estate properties | property					867	867
Disposition fees	$ 2,000
Sales of real estate	$ 214,100
GKK Properties [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Disposition fee as percent	1.00%		1.00%
GKK Properties [Member] | Disposed of by Sale [Member]
Related Party Transaction [Line Items]
Number of real estate properties | property	160
Option One [Member] | GKK Properties [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Monthly asset management fee, percent of acquisition expense, excluding acquisition fees related to thereto		0.0625%
Acquisition advisory fee, percent		0.75%
Option Two [Member] | GKK Properties [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Monthly asset management fee, percent of acquisition expense, excluding acquisition fees related to thereto		0.0625%
Acquisition advisory fee, percent		0.75%
Property Insurance Rebate [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Due from affiliate		$ 36
Legal and Professional Fees Reimbursement [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Due from affiliate		$ 69
KBS Strategic Opportunity REIT, Inc. [Member]
Related Party Transaction [Line Items]
Investments in a joint ventures				$ 8,000

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Related Party Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Payable	$ 188	$ 68
Administrative fees, amount paid	$ 300	200	$ 200
Limit of total operating expenses as a percent of average invested assets	2.00%
Limit of total operating expenses as a percent of net income for the four most recently completed fiscal quarters	25.00%
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Expenses	$ 16,271	13,060	11,427
Payable	188	68
Advisor and Dealer Manager [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Expenses	7,553	9,547	9,992
Payable	0	0
Advisor and Dealer Manager [Member] | Reimbursement of Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	337	269	261
Payable	188	68
Advisor and Dealer Manager [Member] | Dispositon Fees [Member]
Related Party Transaction [Line Items]
Expenses	8,381	3,244	$ 1,174
Payable	$ 0	$ 0

SUPPLEMENTAL CASH FLOW AND SI74

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Supplemental Disclosure of Cash Flow Information:
Interest paid	$ 11,670	$ 26,541	$ 47,095
Supplemental Disclosure of Significant Noncash Investing and Financing Activities:
Treasury securities transferred in connection with defeasance of notes payable	(184,256)	100,229	0
Defeasance of notes payable	167,328	(87,396)	0
Investment in a real estate property through deed-in-lieu of foreclosure	5,480	0	0
Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure	0	0	54,028
Increase in distributions payable	0	0	4,699
Increase in capital expenses payable	$ 0	$ 0	$ 6,004

SEGMENT INFORMATION (Schedule o

SEGMENT INFORMATION (Schedule of Segment Reporting Information, by Segment) (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016USD ($)state	Sep. 30, 2016USD ($)	Jun. 30, 2016USD ($)	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2016USD ($)statesegment	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of operating segments (in segments) | segment									3
Number of states in which entity operates (in states) | state	18								18
Number of reportable segments (in segments) | segment									3
Revenues	$ 26,135	$ 27,290	$ 34,784	$ 41,125	$ 48,833	$ 44,844	$ 44,966	$ 49,577	$ 129,334	$ 188,220	$ 212,465
Interest expense									10,536	29,517	45,923
NOI									49,943	59,973	55,011
Assets	641,927				1,054,865				641,927	1,054,865
Real estate held for sale	21,698				483,717				21,698	483,717
Liabilities	45,495				525,202				45,495	525,202
Liabilities related to real estate held for sale	1,909				19,843				1,909	19,843
Cash and cash equivalents	173,437				46,605				173,437	46,605
Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	457,331				521,041				457,331	521,041
Real estate held for sale	22,373				522,654				22,373	522,654
Liabilities	42,202				245,122				42,202	245,122
Liabilities related to real estate held for sale	1,909				278,776				1,909	278,776
Corporate-level [Member]
Segment Reporting Information [Line Items]
Assets	162,223				11,170				162,223	11,170
Liabilities	1,384				1,304				1,384	1,304
Cash and cash equivalents	161,600				10,600				161,600	10,600
Real Estate Segment [Member]
Segment Reporting Information [Line Items]
Revenues									61,268	67,536	71,965
Interest expense									6,169	8,391	9,613
NOI									29,493	26,882	29,437
Real Estate Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	353,983				355,221				353,983	355,221
Liabilities	8,798				178,911				8,798	178,911
Real Estate-Related Segment [Member]
Segment Reporting Information [Line Items]
Revenues									2,845	3,089	3,077
NOI									2,843	3,087	2,940
Real Estate-Related Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	23,295				27,899				23,295	27,899
Liabilities	$ 8				3				$ 8	3
GKK Properties Segment [Member]
Segment Reporting Information [Line Items]
Number of states in which entity operates (in states) | state	16								16
Revenues									$ 65,221	117,595	137,423
Interest expense									4,367	21,126	36,310
NOI									17,607	30,004	$ 22,634
GKK Properties Segment [Member] | Operating Segments [Member]
Segment Reporting Information [Line Items]
Assets	$ 80,053				137,921				80,053	137,921
Liabilities	$ 33,396				$ 66,208				$ 33,396	$ 66,208

SEGMENT INFORMATION (Reconcilia

SEGMENT INFORMATION (Reconciliation of Net Income (Loss) to Net Operating Income (Loss)) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Segment Reporting [Abstract]
Net income (loss)									$ 90,893	$ (11,387)	$ (21,266)
Gain on sales of real estate									(159,464)	(99,988)	(2,282)
Gain on sales of real estate securities									0	0	(4,410)
Loss (gain) from extinguishment of debt									26,343	22,518	(21,328)
Gain on sales of foreclosed real estate held for sale									0	(2,509)	(1,108)
Other income and interest income									(929)	(1,394)	(938)
Asset management fees to affiliate									7,553	9,547	9,975
Foreclosure fees and expenses									278	0	0
General and administrative expenses									15,971	32,619	18,788
Depreciation and amortization									35,961	59,145	71,613
Impairment charges on real estate - continuing operations									33,419	49,306	10,117
Provision for loan losses									0	2,504	1,973
Total income from discontinued operations	$ (4)	$ 0	$ (83)	$ 5	$ 78	$ (305)	$ 7	$ (168)	(82)	(388)	(6,123)
NOI									$ 49,943	$ 59,973	$ 55,011

SELECTED QUARTERLY FINANCIAL 77

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 30, 2015	Dec. 09, 2014	Sep. 30, 2014	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Revenues				$ 26,135	$ 27,290	$ 34,784	$ 41,125	$ 48,833	$ 44,844	$ 44,966	$ 49,577	$ 129,334	$ 188,220	$ 212,465
Total (loss) income from discontinued operations				4	0	83	(5)	(78)	305	(7)	168	$ 82	$ 388	$ 6,123
Net income (loss) attributable to common stockholders				$ 28,186	$ (9,294)	$ 61,182	$ 10,819	$ 7,684	$ (47,411)	$ 19,751	$ 8,589
Income (loss) per common share, basic and diluted (in dollars per share)				$ 0.15	$ (0.05)	$ 0.33	$ 0.06	$ 0.03	$ (0.25)	$ 0.11	$ 0.05	$ 0.49	$ (0.06)	$ (0.11)
Distributions declared per common share (in dollars per share)	$ 0.25	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.025	$ 0.275	$ 0.025	$ 0.025	$ 0.025	$ 0.10	$ 0.35	$ 0.050

COMMITMENTS AND CONTINGENCIES78

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	Jan. 20, 2017	Jan. 04, 2017	Dec. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
2,017			$ 11,026
2,018			923
2,019			869
2,020			707
2,021			707
Thereafter			26,029
Total future minimum lease payments			$ 40,261
Subsequent Event [Member] | Downtown St. Petersburg [Member]
Loss Contingencies [Line Items]
Lease obligations incurred		$ 29,600
Loss on contract termination	$ 10,000
Wrote-off of above-market lease liability.	$ 9,300

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 27, 2017USD ($)property$ / shares	Mar. 10, 2017$ / shares	Dec. 31, 2016USD ($)property	Oct. 05, 2016$ / shares	Aug. 09, 2016property	Dec. 31, 2015USD ($)	Dec. 08, 2015$ / shares	Dec. 15, 2011property	Sep. 01, 2011property
Subsequent Event [Line Items]
Estimated value per share of company's common stock (in dollars per share)				$ 3.65			$ 3.94
Number of real estate properties | property			90
Real estate investment property | $			$ 361,619			$ 377,163
GKK Properties [Member]
Subsequent Event [Line Items]
Number of real estate properties | property								867	867
GKK Properties [Member] | Disposed of by Sale [Member]
Subsequent Event [Line Items]
Number of real estate properties | property					160
GKK Properties [Member] | Real Estate Held for Sale [Member]
Subsequent Event [Line Items]
Number of real estate properties | property			28
Subsequent Event [Member]
Subsequent Event [Line Items]
Initial liquidation distribution (in dollars per share)		$ 1
Estimated value per share of company's common stock (in dollars per share)	$ 2.475
Subsequent Event [Member] | GKK Properties [Member]
Subsequent Event [Line Items]
Real estate investment property | $	$ 38,500
Real estate sold | $	$ 59,100
Subsequent Event [Member] | GKK Properties [Member] | Disposed of by Sale [Member]
Subsequent Event [Line Items]
Number of real estate properties sold | property	59
Subsequent Event [Member] | Minimum [Member]
Subsequent Event [Line Items]
Estimated liquidation distribution (in dollars per share)	$ 3.27
Subsequent Event [Member] | Maximum [Member]
Subsequent Event [Line Items]
Estimated liquidation distribution (in dollars per share)	3.68
Subsequent Event [Member] | Midpoint [Member]
Subsequent Event [Line Items]
Estimated liquidation distribution (in dollars per share)	$ 3.475

SCHEDULE II VALUATION AND QUA80

SCHEDULE II VALUATION AND QUALIFYING ACCOUNTS (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Allowance for Doubtful Accounts [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	$ 473	$ 1,051	$ 6,385
Additions Charged Against Operations	309	(320)	683
Uncollectible Accounts Written-off	(301)	(258)	(6,017)
Balance at End of Year	481	473	1,051
Reserve for Loan Losses [Member]
Movement in Valuation Allowances and Reserves [Roll Forward]
Balance at Beginning of Year	6,498	3,994	2,090
Additions Charged Against Operations	0	2,504	1,973
Uncollectible Accounts Written-off	(1,402)	0	(69)
Balance at End of Year	$ 5,096	$ 6,498	$ 3,994

SCHEDULE III REAL ESTATE ASSE81

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION Part 1 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	$ 110,787
Initial Cost to Company, Building and Improvements	470,030
Initial Cost to Company, Total	580,817
Cost Capitalized Subsequent to Acquisition	(127,281)
Gross Amount at which Carried at Close of Period, Land	83,057
Gross Amount at which Carried at Close of Period, Building and Improvements	370,479
Gross Amount at which Carried at Close of Period, Total	453,536	$ 1,023,963	$ 1,311,919	$ 1,460,838
Accumulated Depreciation and Amortization	(70,219)	$ (163,083)	$ (193,408)	$ (182,039)
Assets Held-for-Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	99,851
Initial Cost to Company, Building and Improvements	448,597
Initial Cost to Company, Total	548,448
Cost Capitalized Subsequent to Acquisition	(123,897)
Gross Amount at which Carried at Close of Period, Land	72,985
Gross Amount at which Carried at Close of Period, Building and Improvements	351,566
Gross Amount at which Carried at Close of Period, Total	424,551
Accumulated Depreciation and Amortization	$ (62,932)
Assets Held-for-Investment [Member] | Plaza in Clayton [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	2,793
Initial Cost to Company, Building and Improvements	91,162
Initial Cost to Company, Total	93,955
Cost Capitalized Subsequent to Acquisition	(1,742)
Gross Amount at which Carried at Close of Period, Land	2,793
Gross Amount at which Carried at Close of Period, Building and Improvements	89,420
Gross Amount at which Carried at Close of Period, Total	92,213
Accumulated Depreciation and Amortization	$ (25,095)
Original Date of Construction	2,001
Date Acquired	Sep. 27, 2006
Assets Held-for-Investment [Member] | Bridgeway Technology Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	11,299
Initial Cost to Company, Building and Improvements	34,705
Initial Cost to Company, Total	46,004
Cost Capitalized Subsequent to Acquisition	(17,413)
Gross Amount at which Carried at Close of Period, Land	7,044
Gross Amount at which Carried at Close of Period, Building and Improvements	21,547
Gross Amount at which Carried at Close of Period, Total	28,591
Accumulated Depreciation and Amortization	$ (2,372)
Original Date of Construction	1,996
Date Acquired	Jun. 27, 2007
Assets Held-for-Investment [Member] | Rivertech I and II [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	3,931
Initial Cost to Company, Building and Improvements	42,111
Initial Cost to Company, Total	46,042
Cost Capitalized Subsequent to Acquisition	(4,151)
Gross Amount at which Carried at Close of Period, Land	3,931
Gross Amount at which Carried at Close of Period, Building and Improvements	37,960
Gross Amount at which Carried at Close of Period, Total	41,891
Accumulated Depreciation and Amortization	$ (10,943)
Original Date of Construction	1983/2001,2007
Date Acquired	Feb. 20, 2008
Assets Held-for-Investment [Member] | Tysons Dulles Plaza [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	38,839
Initial Cost to Company, Building and Improvements	121,210
Initial Cost to Company, Total	160,049
Cost Capitalized Subsequent to Acquisition	(34,775)
Gross Amount at which Carried at Close of Period, Land	27,989
Gross Amount at which Carried at Close of Period, Building and Improvements	97,285
Gross Amount at which Carried at Close of Period, Total	125,274
Accumulated Depreciation and Amortization	$ (5,609)
Original Date of Construction	1986-1990
Date Acquired	Jun. 6, 2008
Assets Held-for-Investment [Member] | Great Oaks Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	7,743
Initial Cost to Company, Building and Improvements	28,330
Initial Cost to Company, Total	36,073
Cost Capitalized Subsequent to Acquisition	(17,561)
Gross Amount at which Carried at Close of Period, Land	3,349
Gross Amount at which Carried at Close of Period, Building and Improvements	15,163
Gross Amount at which Carried at Close of Period, Total	18,512
Accumulated Depreciation and Amortization	$ (1,716)
Original Date of Construction	1,999
Date Acquired	Jul. 18, 2008
Assets Held-for-Investment [Member] | University Park Buildings [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	4,520
Initial Cost to Company, Building and Improvements	22,029
Initial Cost to Company, Total	26,549
Cost Capitalized Subsequent to Acquisition	(15,056)
Gross Amount at which Carried at Close of Period, Land	2,403
Gross Amount at which Carried at Close of Period, Building and Improvements	9,090
Gross Amount at which Carried at Close of Period, Total	11,493
Accumulated Depreciation and Amortization	$ (244)
Original Date of Construction	1,981
Date Acquired	Jul. 31, 2008
Assets Held-for-Investment [Member] | North Creek Parkway Center [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	11,200
Initial Cost to Company, Building and Improvements	30,755
Initial Cost to Company, Total	41,955
Cost Capitalized Subsequent to Acquisition	(3,904)
Gross Amount at which Carried at Close of Period, Land	9,941
Gross Amount at which Carried at Close of Period, Building and Improvements	28,110
Gross Amount at which Carried at Close of Period, Total	38,051
Accumulated Depreciation and Amortization	$ (5,357)
Original Date of Construction	1986-1987
Date Acquired	Aug. 28, 2008
Assets Held-for-Investment [Member] | City Gate Plaza [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	2,880
Initial Cost to Company, Building and Improvements	18,895
Initial Cost to Company, Total	21,775
Cost Capitalized Subsequent to Acquisition	(7,255)
Gross Amount at which Carried at Close of Period, Land	1,962
Gross Amount at which Carried at Close of Period, Building and Improvements	12,558
Gross Amount at which Carried at Close of Period, Total	14,520
Accumulated Depreciation and Amortization	$ (342)
Original Date of Construction	1988-1990
Date Acquired	Nov. 25, 2008
Assets Held-for-Investment [Member] | Lawrence Village Plaza [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,608
Initial Cost to Company, Building and Improvements	3,771
Initial Cost to Company, Total	5,379
Cost Capitalized Subsequent to Acquisition	(2,412)
Gross Amount at which Carried at Close of Period, Land	965
Gross Amount at which Carried at Close of Period, Building and Improvements	2,002
Gross Amount at which Carried at Close of Period, Total	2,967
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1960's / 1970's / 1995 / 2000
Date Acquired	May 13, 2016
Assets Held-for-Investment [Member] | Pleasanton [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	944
Initial Cost to Company, Building and Improvements	448
Initial Cost to Company, Total	1,392
Cost Capitalized Subsequent to Acquisition	58
Gross Amount at which Carried at Close of Period, Land	944
Gross Amount at which Carried at Close of Period, Building and Improvements	506
Gross Amount at which Carried at Close of Period, Total	1,450
Accumulated Depreciation and Amortization	$ (205)
Original Date of Construction	1,981
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | North Wakefield Drive [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,662
Initial Cost to Company, Building and Improvements	10,166
Initial Cost to Company, Total	11,828
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	1,662
Gross Amount at which Carried at Close of Period, Building and Improvements	10,166
Gross Amount at which Carried at Close of Period, Total	11,828
Accumulated Depreciation and Amortization	$ (3,812)
Original Date of Construction	1,996
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Bridgewater [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,493
Initial Cost to Company, Building and Improvements	2,530
Initial Cost to Company, Total	4,023
Cost Capitalized Subsequent to Acquisition	1,760
Gross Amount at which Carried at Close of Period, Land	1,493
Gross Amount at which Carried at Close of Period, Building and Improvements	4,290
Gross Amount at which Carried at Close of Period, Total	5,783
Accumulated Depreciation and Amortization	$ (927)
Original Date of Construction	1974 / 1980
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Dallas [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	110
Initial Cost to Company, Building and Improvements	379
Initial Cost to Company, Total	489
Cost Capitalized Subsequent to Acquisition	(264)
Gross Amount at which Carried at Close of Period, Land	78
Gross Amount at which Carried at Close of Period, Building and Improvements	147
Gross Amount at which Carried at Close of Period, Total	225
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,972
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Farmville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	112
Initial Cost to Company, Building and Improvements	892
Initial Cost to Company, Total	1,004
Cost Capitalized Subsequent to Acquisition	(429)
Gross Amount at which Carried at Close of Period, Land	101
Gross Amount at which Carried at Close of Period, Building and Improvements	474
Gross Amount at which Carried at Close of Period, Total	575
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,965
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Tryon Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	87
Initial Cost to Company, Building and Improvements	1,067
Initial Cost to Company, Total	1,154
Cost Capitalized Subsequent to Acquisition	(604)
Gross Amount at which Carried at Close of Period, Land	64
Gross Amount at which Carried at Close of Period, Building and Improvements	486
Gross Amount at which Carried at Close of Period, Total	550
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,966
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Harborside [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Building and Improvements	0
Initial Cost to Company, Total	0
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	0
Gross Amount at which Carried at Close of Period, Building and Improvements	0
Gross Amount at which Carried at Close of Period, Total	0
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	2,002
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Downtown St. Petersburg [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Building and Improvements	0
Initial Cost to Company, Total	0
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	0
Gross Amount at which Carried at Close of Period, Building and Improvements	0
Gross Amount at which Carried at Close of Period, Total	0
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1912 / 1981
Date Acquired	Sep. 1, 2011
Assets Held-for-Investment [Member] | Citizens - Clinton East Main [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	172
Initial Cost to Company, Building and Improvements	641
Initial Cost to Company, Total	813
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	172
Gross Amount at which Carried at Close of Period, Building and Improvements	641
Gross Amount at which Carried at Close of Period, Total	813
Accumulated Depreciation and Amortization	$ (270)
Original Date of Construction	1,972
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Railroad Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	232
Initial Cost to Company, Building and Improvements	426
Initial Cost to Company, Total	658
Cost Capitalized Subsequent to Acquisition	(116)
Gross Amount at which Carried at Close of Period, Land	232
Gross Amount at which Carried at Close of Period, Building and Improvements	310
Gross Amount at which Carried at Close of Period, Total	542
Accumulated Depreciation and Amortization	$ (80)
Original Date of Construction	1,980
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Shunpike Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	281
Initial Cost to Company, Building and Improvements	484
Initial Cost to Company, Total	765
Cost Capitalized Subsequent to Acquisition	(49)
Gross Amount at which Carried at Close of Period, Land	281
Gross Amount at which Carried at Close of Period, Building and Improvements	435
Gross Amount at which Carried at Close of Period, Total	716
Accumulated Depreciation and Amortization	$ (156)
Original Date of Construction	1,976
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Columbia Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	370
Initial Cost to Company, Building and Improvements	1,433
Initial Cost to Company, Total	1,803
Cost Capitalized Subsequent to Acquisition	(788)
Gross Amount at which Carried at Close of Period, Land	309
Gross Amount at which Carried at Close of Period, Building and Improvements	706
Gross Amount at which Carried at Close of Period, Total	1,015
Accumulated Depreciation and Amortization	$ (51)
Original Date of Construction	1,930
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - East Boston Square [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	192
Initial Cost to Company, Building and Improvements	785
Initial Cost to Company, Total	977
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	192
Gross Amount at which Carried at Close of Period, Building and Improvements	785
Gross Amount at which Carried at Close of Period, Total	977
Accumulated Depreciation and Amortization	$ (335)
Original Date of Construction	1,928
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Rogers Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	251
Initial Cost to Company, Building and Improvements	1,174
Initial Cost to Company, Total	1,425
Cost Capitalized Subsequent to Acquisition	(904)
Gross Amount at which Carried at Close of Period, Land	132
Gross Amount at which Carried at Close of Period, Building and Improvements	389
Gross Amount at which Carried at Close of Period, Total	521
Accumulated Depreciation and Amortization	$ (38)
Original Date of Construction	1,950
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Union Sq - Somerville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	647
Initial Cost to Company, Building and Improvements	952
Initial Cost to Company, Total	1,599
Cost Capitalized Subsequent to Acquisition	(13)
Gross Amount at which Carried at Close of Period, Land	647
Gross Amount at which Carried at Close of Period, Building and Improvements	939
Gross Amount at which Carried at Close of Period, Total	1,586
Accumulated Depreciation and Amortization	$ (394)
Original Date of Construction	1,970
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - 18 Mile Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	207
Initial Cost to Company, Building and Improvements	835
Initial Cost to Company, Total	1,042
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	207
Gross Amount at which Carried at Close of Period, Building and Improvements	835
Gross Amount at which Carried at Close of Period, Total	1,042
Accumulated Depreciation and Amortization	$ (329)
Original Date of Construction	1,977
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Allen Road - Southgate [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	422
Initial Cost to Company, Building and Improvements	2,949
Initial Cost to Company, Total	3,371
Cost Capitalized Subsequent to Acquisition	(2,954)
Gross Amount at which Carried at Close of Period, Land	75
Gross Amount at which Carried at Close of Period, Building and Improvements	342
Gross Amount at which Carried at Close of Period, Total	417
Accumulated Depreciation and Amortization	$ (9)
Original Date of Construction	1,973
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Ford Road Heights [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	494
Initial Cost to Company, Building and Improvements	1,130
Initial Cost to Company, Total	1,624
Cost Capitalized Subsequent to Acquisition	(1,092)
Gross Amount at which Carried at Close of Period, Land	210
Gross Amount at which Carried at Close of Period, Building and Improvements	322
Gross Amount at which Carried at Close of Period, Total	532
Accumulated Depreciation and Amortization	$ (11)
Original Date of Construction	1,981
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Grand River [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	52
Initial Cost to Company, Building and Improvements	611
Initial Cost to Company, Total	663
Cost Capitalized Subsequent to Acquisition	(149)
Gross Amount at which Carried at Close of Period, Land	52
Gross Amount at which Carried at Close of Period, Building and Improvements	462
Gross Amount at which Carried at Close of Period, Total	514
Accumulated Depreciation and Amortization	$ (159)
Original Date of Construction	1,920
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Greater Mack [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	626
Initial Cost to Company, Building and Improvements	1,150
Initial Cost to Company, Total	1,776
Cost Capitalized Subsequent to Acquisition	(159)
Gross Amount at which Carried at Close of Period, Land	626
Gross Amount at which Carried at Close of Period, Building and Improvements	991
Gross Amount at which Carried at Close of Period, Total	1,617
Accumulated Depreciation and Amortization	$ (355)
Original Date of Construction	1,980
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Grosse Pointe Woods [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	249
Initial Cost to Company, Building and Improvements	572
Initial Cost to Company, Total	821
Cost Capitalized Subsequent to Acquisition	(440)
Gross Amount at which Carried at Close of Period, Land	161
Gross Amount at which Carried at Close of Period, Building and Improvements	220
Gross Amount at which Carried at Close of Period, Total	381
Accumulated Depreciation and Amortization	$ (17)
Original Date of Construction	1,955
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Joy Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	66
Initial Cost to Company, Building and Improvements	591
Initial Cost to Company, Total	657
Cost Capitalized Subsequent to Acquisition	(561)
Gross Amount at which Carried at Close of Period, Land	16
Gross Amount at which Carried at Close of Period, Building and Improvements	80
Gross Amount at which Carried at Close of Period, Total	96
Accumulated Depreciation and Amortization	$ (6)
Original Date of Construction	1,957
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Main Street - Belleville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	181
Initial Cost to Company, Building and Improvements	1,228
Initial Cost to Company, Total	1,409
Cost Capitalized Subsequent to Acquisition	(1,176)
Gross Amount at which Carried at Close of Period, Land	37
Gross Amount at which Carried at Close of Period, Building and Improvements	196
Gross Amount at which Carried at Close of Period, Total	233
Accumulated Depreciation and Amortization	$ (9)
Original Date of Construction	1,998
Date Acquired	Oct. 24, 2011

SCHEDULE III REAL ESTATE ASSE82

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION Part 2 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	$ 110,787
Initial Cost to Company, Building and Improvements	470,030
Initial Cost to Company, Total	580,817
Cost Capitalized Subsequent to Acquisition	(127,281)
Gross Amount at which Carried at Close of Period, Land	83,057
Gross Amount at which Carried at Close of Period, Building and Improvements	370,479
Gross Amount at which Carried at Close of Period, Total	453,536	$ 1,023,963	$ 1,311,919	$ 1,460,838
Accumulated Depreciation and Amortization	(70,219)	$ (163,083)	$ (193,408)	$ (182,039)
Assets Held-for-Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	99,851
Initial Cost to Company, Building and Improvements	448,597
Initial Cost to Company, Total	548,448
Cost Capitalized Subsequent to Acquisition	(123,897)
Gross Amount at which Carried at Close of Period, Land	72,985
Gross Amount at which Carried at Close of Period, Building and Improvements	351,566
Gross Amount at which Carried at Close of Period, Total	424,551
Accumulated Depreciation and Amortization	$ (62,932)
Assets Held-for-Investment [Member] | Citizens - North Adams [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 227
Initial Cost to Company, Building and Improvements	1,417
Initial Cost to Company, Total	1,644
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	227
Gross Amount at which Carried at Close of Period, Building and Improvements	1,417
Gross Amount at which Carried at Close of Period, Total	1,644
Accumulated Depreciation and Amortization	$ (502)
Original Date of Construction	1,976
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Plymouth Road - Detroit [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 66
Initial Cost to Company, Building and Improvements	539
Initial Cost to Company, Total	605
Cost Capitalized Subsequent to Acquisition	(480)
Gross Amount at which Carried at Close of Period, Land	25
Gross Amount at which Carried at Close of Period, Building and Improvements	100
Gross Amount at which Carried at Close of Period, Total	125
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	Early 1960’s
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Roseville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 347
Initial Cost to Company, Building and Improvements	906
Initial Cost to Company, Total	1,253
Cost Capitalized Subsequent to Acquisition	(611)
Gross Amount at which Carried at Close of Period, Land	251
Gross Amount at which Carried at Close of Period, Building and Improvements	391
Gross Amount at which Carried at Close of Period, Total	642
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,981
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Schoenherr [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 145
Initial Cost to Company, Building and Improvements	1,088
Initial Cost to Company, Total	1,233
Cost Capitalized Subsequent to Acquisition	(881)
Gross Amount at which Carried at Close of Period, Land	59
Gross Amount at which Carried at Close of Period, Building and Improvements	293
Gross Amount at which Carried at Close of Period, Total	352
Accumulated Depreciation and Amortization	$ (25)
Original Date of Construction	1,979
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - West Fort Street [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 122
Initial Cost to Company, Building and Improvements	1,315
Initial Cost to Company, Total	1,437
Cost Capitalized Subsequent to Acquisition	(622)
Gross Amount at which Carried at Close of Period, Land	92
Gross Amount at which Carried at Close of Period, Building and Improvements	723
Gross Amount at which Carried at Close of Period, Total	815
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,984
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - West Maple [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 317
Initial Cost to Company, Building and Improvements	1,675
Initial Cost to Company, Total	1,992
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	317
Gross Amount at which Carried at Close of Period, Building and Improvements	1,675
Gross Amount at which Carried at Close of Period, Total	1,992
Accumulated Depreciation and Amortization	$ (727)
Original Date of Construction	1,962
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Barrington [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 176
Initial Cost to Company, Building and Improvements	335
Initial Cost to Company, Total	511
Cost Capitalized Subsequent to Acquisition	(139)
Gross Amount at which Carried at Close of Period, Land	176
Gross Amount at which Carried at Close of Period, Building and Improvements	196
Gross Amount at which Carried at Close of Period, Total	372
Accumulated Depreciation and Amortization	$ (34)
Original Date of Construction	1,985
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Coliseum Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 206
Initial Cost to Company, Building and Improvements	655
Initial Cost to Company, Total	861
Cost Capitalized Subsequent to Acquisition	(91)
Gross Amount at which Carried at Close of Period, Land	206
Gross Amount at which Carried at Close of Period, Building and Improvements	564
Gross Amount at which Carried at Close of Period, Total	770
Accumulated Depreciation and Amortization	$ (166)
Original Date of Construction	1,981
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - One Constitution Way [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 135
Initial Cost to Company, Building and Improvements	1,013
Initial Cost to Company, Total	1,148
Cost Capitalized Subsequent to Acquisition	(32)
Gross Amount at which Carried at Close of Period, Land	135
Gross Amount at which Carried at Close of Period, Building and Improvements	981
Gross Amount at which Carried at Close of Period, Total	1,116
Accumulated Depreciation and Amortization	$ (266)
Original Date of Construction	1,985
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Endicott [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 117
Initial Cost to Company, Building and Improvements	2,001
Initial Cost to Company, Total	2,118
Cost Capitalized Subsequent to Acquisition	(1,967)
Gross Amount at which Carried at Close of Period, Land	14
Gross Amount at which Carried at Close of Period, Building and Improvements	137
Gross Amount at which Carried at Close of Period, Total	151
Accumulated Depreciation and Amortization	$ (7)
Original Date of Construction	1,927
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Glens Falls [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 167
Initial Cost to Company, Building and Improvements	1,234
Initial Cost to Company, Total	1,401
Cost Capitalized Subsequent to Acquisition	(870)
Gross Amount at which Carried at Close of Period, Land	95
Gross Amount at which Carried at Close of Period, Building and Improvements	436
Gross Amount at which Carried at Close of Period, Total	531
Accumulated Depreciation and Amortization	$ (44)
Original Date of Construction	1,956
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Meadow Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 364
Initial Cost to Company, Building and Improvements	1,232
Initial Cost to Company, Total	1,596
Cost Capitalized Subsequent to Acquisition	(133)
Gross Amount at which Carried at Close of Period, Land	364
Gross Amount at which Carried at Close of Period, Building and Improvements	1,099
Gross Amount at which Carried at Close of Period, Total	1,463
Accumulated Depreciation and Amortization	$ (375)
Original Date of Construction	1,972
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Dover Center Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 196
Initial Cost to Company, Building and Improvements	484
Initial Cost to Company, Total	680
Cost Capitalized Subsequent to Acquisition	(42)
Gross Amount at which Carried at Close of Period, Land	196
Gross Amount at which Carried at Close of Period, Building and Improvements	442
Gross Amount at which Carried at Close of Period, Total	638
Accumulated Depreciation and Amortization	$ (196)
Original Date of Construction	1,967
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - East Street - Euclid [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 86
Initial Cost to Company, Building and Improvements	708
Initial Cost to Company, Total	794
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	86
Gross Amount at which Carried at Close of Period, Building and Improvements	708
Gross Amount at which Carried at Close of Period, Total	794
Accumulated Depreciation and Amortization	$ (259)
Original Date of Construction	1,975
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Fairview Park [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 289
Initial Cost to Company, Building and Improvements	374
Initial Cost to Company, Total	663
Cost Capitalized Subsequent to Acquisition	(43)
Gross Amount at which Carried at Close of Period, Land	289
Gross Amount at which Carried at Close of Period, Building and Improvements	331
Gross Amount at which Carried at Close of Period, Total	620
Accumulated Depreciation and Amortization	$ (155)
Original Date of Construction	1,966
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Girard [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 88
Initial Cost to Company, Building and Improvements	1,091
Initial Cost to Company, Total	1,179
Cost Capitalized Subsequent to Acquisition	(1,094)
Gross Amount at which Carried at Close of Period, Land	9
Gross Amount at which Carried at Close of Period, Building and Improvements	76
Gross Amount at which Carried at Close of Period, Total	85
Accumulated Depreciation and Amortization	$ (2)
Original Date of Construction	1977 / 1983
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Lake Shore Boulevard [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 234
Initial Cost to Company, Building and Improvements	622
Initial Cost to Company, Total	856
Cost Capitalized Subsequent to Acquisition	(177)
Gross Amount at which Carried at Close of Period, Land	234
Gross Amount at which Carried at Close of Period, Building and Improvements	445
Gross Amount at which Carried at Close of Period, Total	679
Accumulated Depreciation and Amortization	$ (153)
Original Date of Construction	1,971
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Lorain Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 254
Initial Cost to Company, Building and Improvements	599
Initial Cost to Company, Total	853
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	254
Gross Amount at which Carried at Close of Period, Building and Improvements	599
Gross Amount at which Carried at Close of Period, Total	853
Accumulated Depreciation and Amortization	$ (195)
Original Date of Construction	1,981
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Mentor Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 690
Initial Cost to Company, Building and Improvements	1,283
Initial Cost to Company, Total	1,973
Cost Capitalized Subsequent to Acquisition	(1,667)
Gross Amount at which Carried at Close of Period, Land	155
Gross Amount at which Carried at Close of Period, Building and Improvements	151
Gross Amount at which Carried at Close of Period, Total	306
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,958
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Navarre Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 107
Initial Cost to Company, Building and Improvements	1,015
Initial Cost to Company, Total	1,122
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	107
Gross Amount at which Carried at Close of Period, Building and Improvements	1,015
Gross Amount at which Carried at Close of Period, Total	1,122
Accumulated Depreciation and Amortization	$ (398)
Original Date of Construction	1,980
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Richmond Heights [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 353
Initial Cost to Company, Building and Improvements	683
Initial Cost to Company, Total	1,036
Cost Capitalized Subsequent to Acquisition	(324)
Gross Amount at which Carried at Close of Period, Land	325
Gross Amount at which Carried at Close of Period, Building and Improvements	387
Gross Amount at which Carried at Close of Period, Total	712
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	2,002
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Toledo Main [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 83
Initial Cost to Company, Building and Improvements	664
Initial Cost to Company, Total	747
Cost Capitalized Subsequent to Acquisition	(136)
Gross Amount at which Carried at Close of Period, Land	83
Gross Amount at which Carried at Close of Period, Building and Improvements	528
Gross Amount at which Carried at Close of Period, Total	611
Accumulated Depreciation and Amortization	$ (182)
Original Date of Construction	1,952
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - University Heights [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 426
Initial Cost to Company, Building and Improvements	505
Initial Cost to Company, Total	931
Cost Capitalized Subsequent to Acquisition	(408)
Gross Amount at which Carried at Close of Period, Land	288
Gross Amount at which Carried at Close of Period, Building and Improvements	235
Gross Amount at which Carried at Close of Period, Total	523
Accumulated Depreciation and Amortization	$ (8)
Original Date of Construction	1989 / 2002
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Westlake [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 283
Initial Cost to Company, Building and Improvements	596
Initial Cost to Company, Total	879
Cost Capitalized Subsequent to Acquisition	(156)
Gross Amount at which Carried at Close of Period, Land	283
Gross Amount at which Carried at Close of Period, Building and Improvements	440
Gross Amount at which Carried at Close of Period, Total	723
Accumulated Depreciation and Amortization	$ (76)
Original Date of Construction	1,981
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Burgettstown [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 68
Initial Cost to Company, Building and Improvements	1,165
Initial Cost to Company, Total	1,233
Cost Capitalized Subsequent to Acquisition	(1,035)
Gross Amount at which Carried at Close of Period, Land	18
Gross Amount at which Carried at Close of Period, Building and Improvements	180
Gross Amount at which Carried at Close of Period, Total	198
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,921
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Zelienople [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 26
Initial Cost to Company, Building and Improvements	1,054
Initial Cost to Company, Total	1,080
Cost Capitalized Subsequent to Acquisition	(745)
Gross Amount at which Carried at Close of Period, Land	13
Gross Amount at which Carried at Close of Period, Building and Improvements	322
Gross Amount at which Carried at Close of Period, Total	335
Accumulated Depreciation and Amortization	$ (20)
Original Date of Construction	1920 / 1971
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Portsmouth East Main [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 446
Initial Cost to Company, Building and Improvements	518
Initial Cost to Company, Total	964
Cost Capitalized Subsequent to Acquisition	(68)
Gross Amount at which Carried at Close of Period, Land	446
Gross Amount at which Carried at Close of Period, Building and Improvements	450
Gross Amount at which Carried at Close of Period, Total	896
Accumulated Depreciation and Amortization	$ (183)
Original Date of Construction	1,979
Date Acquired	Oct. 24, 2011
Assets Held-for-Investment [Member] | Citizens - Pearl St - Essex Junction [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 170
Initial Cost to Company, Building and Improvements	415
Initial Cost to Company, Total	585
Cost Capitalized Subsequent to Acquisition	(27)
Gross Amount at which Carried at Close of Period, Land	170
Gross Amount at which Carried at Close of Period, Building and Improvements	388
Gross Amount at which Carried at Close of Period, Total	558
Accumulated Depreciation and Amortization	$ (118)
Original Date of Construction	1,986
Date Acquired	Oct. 24, 2011

SCHEDULE III REAL ESTATE ASSE83

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION Part 3 (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	$ 110,787
Initial Cost to Company, Building and Improvements	470,030
Initial Cost to Company, Total	580,817
Cost Capitalized Subsequent to Acquisition	(127,281)
Gross Amount at which Carried at Close of Period, Land	83,057
Gross Amount at which Carried at Close of Period, Building and Improvements	370,479
Gross Amount at which Carried at Close of Period, Total	453,536	$ 1,023,963	$ 1,311,919	$ 1,460,838
Accumulated Depreciation and Amortization	(70,219)	$ (163,083)	$ (193,408)	$ (182,039)
Assets Held-for-sale [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	10,936
Initial Cost to Company, Building and Improvements	21,433
Initial Cost to Company, Total	32,369
Cost Capitalized Subsequent to Acquisition	(3,384)
Gross Amount at which Carried at Close of Period, Land	10,072
Gross Amount at which Carried at Close of Period, Building and Improvements	18,913
Gross Amount at which Carried at Close of Period, Total	28,985
Accumulated Depreciation and Amortization	$ (7,287)
Assets Held-for-sale [Member] | Santa Fe-Metro Bank - Main Bldg [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	0
Initial Cost to Company, Building and Improvements	1,646
Initial Cost to Company, Total	1,646
Cost Capitalized Subsequent to Acquisition	(115)
Gross Amount at which Carried at Close of Period, Land	0
Gross Amount at which Carried at Close of Period, Building and Improvements	1,531
Gross Amount at which Carried at Close of Period, Total	1,531
Accumulated Depreciation and Amortization	$ (534)
Original Date of Construction	1972 / 1985
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Park Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	213
Initial Cost to Company, Building and Improvements	360
Initial Cost to Company, Total	573
Cost Capitalized Subsequent to Acquisition	(42)
Gross Amount at which Carried at Close of Period, Land	213
Gross Amount at which Carried at Close of Period, Building and Improvements	318
Gross Amount at which Carried at Close of Period, Total	531
Accumulated Depreciation and Amortization	$ (144)
Original Date of Construction	1,953
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Citizens - Main Street - Beacon [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	440
Initial Cost to Company, Building and Improvements	1,247
Initial Cost to Company, Total	1,687
Cost Capitalized Subsequent to Acquisition	(639)
Gross Amount at which Carried at Close of Period, Land	394
Gross Amount at which Carried at Close of Period, Building and Improvements	654
Gross Amount at which Carried at Close of Period, Total	1,048
Accumulated Depreciation and Amortization	$ (30)
Original Date of Construction	1,955
Date Acquired	Oct. 24, 2011
Assets Held-for-sale [Member] | Bay - Fair [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	913
Initial Cost to Company, Building and Improvements	594
Initial Cost to Company, Total	1,507
Cost Capitalized Subsequent to Acquisition	(90)
Gross Amount at which Carried at Close of Period, Land	913
Gross Amount at which Carried at Close of Period, Building and Improvements	504
Gross Amount at which Carried at Close of Period, Total	1,417
Accumulated Depreciation and Amortization	$ (249)
Original Date of Construction	1,981
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Bayshore - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	391
Initial Cost to Company, Building and Improvements	445
Initial Cost to Company, Total	836
Cost Capitalized Subsequent to Acquisition	89
Gross Amount at which Carried at Close of Period, Land	391
Gross Amount at which Carried at Close of Period, Building and Improvements	534
Gross Amount at which Carried at Close of Period, Total	925
Accumulated Depreciation and Amortization	$ (230)
Original Date of Construction	1,971
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Crystal River - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	119
Initial Cost to Company, Building and Improvements	329
Initial Cost to Company, Total	448
Cost Capitalized Subsequent to Acquisition	10
Gross Amount at which Carried at Close of Period, Land	119
Gross Amount at which Carried at Close of Period, Building and Improvements	339
Gross Amount at which Carried at Close of Period, Total	458
Accumulated Depreciation and Amortization	$ (153)
Original Date of Construction	1,970
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Midway - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,401
Initial Cost to Company, Building and Improvements	826
Initial Cost to Company, Total	2,227
Cost Capitalized Subsequent to Acquisition	(492)
Gross Amount at which Carried at Close of Period, Land	1,351
Gross Amount at which Carried at Close of Period, Building and Improvements	384
Gross Amount at which Carried at Close of Period, Total	1,735
Accumulated Depreciation and Amortization	$ (31)
Original Date of Construction	1,974
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | West Sunrise - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,060
Initial Cost to Company, Building and Improvements	1,146
Initial Cost to Company, Total	2,206
Cost Capitalized Subsequent to Acquisition	(1,474)
Gross Amount at which Carried at Close of Period, Land	525
Gross Amount at which Carried at Close of Period, Building and Improvements	207
Gross Amount at which Carried at Close of Period, Total	732
Accumulated Depreciation and Amortization	$ (16)
Original Date of Construction	1,976
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Bergenline Avenue [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	179
Initial Cost to Company, Building and Improvements	370
Initial Cost to Company, Total	549
Cost Capitalized Subsequent to Acquisition	(179)
Gross Amount at which Carried at Close of Period, Land	179
Gross Amount at which Carried at Close of Period, Building and Improvements	191
Gross Amount at which Carried at Close of Period, Total	370
Accumulated Depreciation and Amortization	$ (132)
Original Date of Construction	1,970
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Pennsauken [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	750
Initial Cost to Company, Building and Improvements	794
Initial Cost to Company, Total	1,544
Cost Capitalized Subsequent to Acquisition	(138)
Gross Amount at which Carried at Close of Period, Land	750
Gross Amount at which Carried at Close of Period, Building and Improvements	656
Gross Amount at which Carried at Close of Period, Total	1,406
Accumulated Depreciation and Amortization	$ (365)
Original Date of Construction	1,966
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Jamaica [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	185
Initial Cost to Company, Building and Improvements	953
Initial Cost to Company, Total	1,138
Cost Capitalized Subsequent to Acquisition	(5)
Gross Amount at which Carried at Close of Period, Land	185
Gross Amount at which Carried at Close of Period, Building and Improvements	948
Gross Amount at which Carried at Close of Period, Total	1,133
Accumulated Depreciation and Amortization	$ (260)
Original Date of Construction	1960 / 2001
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Gresham - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	374
Initial Cost to Company, Building and Improvements	668
Initial Cost to Company, Total	1,042
Cost Capitalized Subsequent to Acquisition	(252)
Gross Amount at which Carried at Close of Period, Land	374
Gross Amount at which Carried at Close of Period, Building and Improvements	416
Gross Amount at which Carried at Close of Period, Total	790
Accumulated Depreciation and Amortization	$ (235)
Original Date of Construction	1,978
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Blair Mill Road [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,171
Initial Cost to Company, Building and Improvements	1,794
Initial Cost to Company, Total	2,965
Cost Capitalized Subsequent to Acquisition	3,155
Gross Amount at which Carried at Close of Period, Land	1,171
Gross Amount at which Carried at Close of Period, Building and Improvements	4,949
Gross Amount at which Carried at Close of Period, Total	6,120
Accumulated Depreciation and Amortization	$ (2,126)
Original Date of Construction	1,985
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Camas - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	386
Initial Cost to Company, Building and Improvements	243
Initial Cost to Company, Total	629
Cost Capitalized Subsequent to Acquisition	(39)
Gross Amount at which Carried at Close of Period, Land	386
Gross Amount at which Carried at Close of Period, Building and Improvements	204
Gross Amount at which Carried at Close of Period, Total	590
Accumulated Depreciation and Amortization	$ (106)
Original Date of Construction	1,951
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Edmonds - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	367
Initial Cost to Company, Building and Improvements	348
Initial Cost to Company, Total	715
Cost Capitalized Subsequent to Acquisition	27
Gross Amount at which Carried at Close of Period, Land	367
Gross Amount at which Carried at Close of Period, Building and Improvements	375
Gross Amount at which Carried at Close of Period, Total	742
Accumulated Depreciation and Amortization	$ (219)
Original Date of Construction	1,956
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Greenwood - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	104
Initial Cost to Company, Building and Improvements	221
Initial Cost to Company, Total	325
Cost Capitalized Subsequent to Acquisition	12
Gross Amount at which Carried at Close of Period, Land	104
Gross Amount at which Carried at Close of Period, Building and Improvements	233
Gross Amount at which Carried at Close of Period, Total	337
Accumulated Depreciation and Amortization	$ (132)
Original Date of Construction	1,948
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Daytona Beach Spdwy - Main Bldg [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	1,060
Initial Cost to Company, Building and Improvements	638
Initial Cost to Company, Total	1,698
Cost Capitalized Subsequent to Acquisition	(53)
Gross Amount at which Carried at Close of Period, Land	1,060
Gross Amount at which Carried at Close of Period, Building and Improvements	585
Gross Amount at which Carried at Close of Period, Total	1,645
Accumulated Depreciation and Amortization	$ (341)
Original Date of Construction	1,974
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Redmond - Main Building [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	50
Initial Cost to Company, Building and Improvements	206
Initial Cost to Company, Total	256
Cost Capitalized Subsequent to Acquisition	(8)
Gross Amount at which Carried at Close of Period, Land	50
Gross Amount at which Carried at Close of Period, Building and Improvements	198
Gross Amount at which Carried at Close of Period, Total	248
Accumulated Depreciation and Amortization	$ (90)
Original Date of Construction	1925 / 1982
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Burlington Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	213
Initial Cost to Company, Building and Improvements	1,220
Initial Cost to Company, Total	1,433
Cost Capitalized Subsequent to Acquisition	(1,000)
Gross Amount at which Carried at Close of Period, Land	175
Gross Amount at which Carried at Close of Period, Building and Improvements	258
Gross Amount at which Carried at Close of Period, Total	433
Accumulated Depreciation and Amortization	$ (5)
Original Date of Construction	1,982
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Carolina Beach [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	194
Initial Cost to Company, Building and Improvements	1,045
Initial Cost to Company, Total	1,239
Cost Capitalized Subsequent to Acquisition	1
Gross Amount at which Carried at Close of Period, Land	195
Gross Amount at which Carried at Close of Period, Building and Improvements	1,045
Gross Amount at which Carried at Close of Period, Total	1,240
Accumulated Depreciation and Amortization	$ (415)
Original Date of Construction	1,971
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Elizabethtown Main [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	71
Initial Cost to Company, Building and Improvements	592
Initial Cost to Company, Total	663
Cost Capitalized Subsequent to Acquisition	(32)
Gross Amount at which Carried at Close of Period, Land	71
Gross Amount at which Carried at Close of Period, Building and Improvements	560
Gross Amount at which Carried at Close of Period, Total	631
Accumulated Depreciation and Amortization	$ (210)
Original Date of Construction	1,962
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Fayetteville Dwntown [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	216
Initial Cost to Company, Building and Improvements	452
Initial Cost to Company, Total	668
Cost Capitalized Subsequent to Acquisition	(407)
Gross Amount at which Carried at Close of Period, Land	146
Gross Amount at which Carried at Close of Period, Building and Improvements	115
Gross Amount at which Carried at Close of Period, Total	261
Accumulated Depreciation and Amortization	$ (3)
Original Date of Construction	1,980
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Kenansville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	90
Initial Cost to Company, Building and Improvements	463
Initial Cost to Company, Total	553
Cost Capitalized Subsequent to Acquisition	(48)
Gross Amount at which Carried at Close of Period, Land	90
Gross Amount at which Carried at Close of Period, Building and Improvements	415
Gross Amount at which Carried at Close of Period, Total	505
Accumulated Depreciation and Amortization	$ (156)
Original Date of Construction	1,970
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Kinston Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	136
Initial Cost to Company, Building and Improvements	1,121
Initial Cost to Company, Total	1,257
Cost Capitalized Subsequent to Acquisition	(42)
Gross Amount at which Carried at Close of Period, Land	136
Gross Amount at which Carried at Close of Period, Building and Improvements	1,079
Gross Amount at which Carried at Close of Period, Total	1,215
Accumulated Depreciation and Amortization	$ (338)
Original Date of Construction	1,982
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Marion Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	232
Initial Cost to Company, Building and Improvements	1,341
Initial Cost to Company, Total	1,573
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	232
Gross Amount at which Carried at Close of Period, Building and Improvements	1,341
Gross Amount at which Carried at Close of Period, Total	1,573
Accumulated Depreciation and Amortization	$ (429)
Original Date of Construction	1,982
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Mt Olive Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	119
Initial Cost to Company, Building and Improvements	404
Initial Cost to Company, Total	523
Cost Capitalized Subsequent to Acquisition	(77)
Gross Amount at which Carried at Close of Period, Land	119
Gross Amount at which Carried at Close of Period, Building and Improvements	327
Gross Amount at which Carried at Close of Period, Total	446
Accumulated Depreciation and Amortization	$ (126)
Original Date of Construction	1,962
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | North Asheville [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	73
Initial Cost to Company, Building and Improvements	430
Initial Cost to Company, Total	503
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	73
Gross Amount at which Carried at Close of Period, Building and Improvements	430
Gross Amount at which Carried at Close of Period, Total	503
Accumulated Depreciation and Amortization	$ (178)
Original Date of Construction	1,973
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Pleasant Garden [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	97
Initial Cost to Company, Building and Improvements	235
Initial Cost to Company, Total	332
Cost Capitalized Subsequent to Acquisition	(147)
Gross Amount at which Carried at Close of Period, Land	97
Gross Amount at which Carried at Close of Period, Building and Improvements	88
Gross Amount at which Carried at Close of Period, Total	185
Accumulated Depreciation and Amortization	$ (31)
Original Date of Construction	1,935
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Reidsville Main Office [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	160
Initial Cost to Company, Building and Improvements	349
Initial Cost to Company, Total	509
Cost Capitalized Subsequent to Acquisition	(348)
Gross Amount at which Carried at Close of Period, Land	123
Gross Amount at which Carried at Close of Period, Building and Improvements	38
Gross Amount at which Carried at Close of Period, Total	161
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1,900
Date Acquired	Sep. 1, 2011
Assets Held-for-sale [Member] | Spruce Pine Main [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 0
Initial Cost to Company, Land	172
Initial Cost to Company, Building and Improvements	953
Initial Cost to Company, Total	1,125
Cost Capitalized Subsequent to Acquisition	(1,051)
Gross Amount at which Carried at Close of Period, Land	83
Gross Amount at which Carried at Close of Period, Building and Improvements	(9)
Gross Amount at which Carried at Close of Period, Total	74
Accumulated Depreciation and Amortization	$ (3)
Original Date of Construction	1,930
Date Acquired	Sep. 1, 2011

SCHEDULE III REAL ESTATE ASSE84

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Narrative) (Details) $ in Millions	Dec. 31, 2016USD ($)
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real estate, federal income tax basis	$ 652.3

SCHEDULE III REAL ESTATE ASSE85

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Real Estate and Accumulated Depreciation and Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate
Balance at the beginning of the year	$ 1,023,963	$ 1,311,919	$ 1,460,838
Acquisition	0	2,297	0
Improvements	20,735	36,816	33,046
Write-off of fully depreciated and fully amortized assets	(7,374)	(18,169)	(31,954)
Loss due to property damages	(1,033)	0	0
Impairments	(60,276)	(85,255)	(18,902)
Sales	(527,856)	(223,645)	(94,562)
Foreclosures	5,377	0	(36,547)
Balance at the end of the year	453,536	1,023,963	1,311,919
Accumulated depreciation and amortization
Balance at the beginning of the year	163,083	193,408	182,039
Depreciation and amortization expense	33,099	55,995	67,848
Write-off of fully depreciated and fully amortized assets	(7,374)	(18,169)	(31,954)
Impairment	(27,380)	(38,916)	(8,885)
Sales	(91,209)	(29,235)	(10,973)
Foreclosures	0	0	(4,667)
Balance at the end of the year	$ 70,219	$ 163,083	$ 193,408