Pacific Oak Strategic Opportunity REIT (PCOK) 10-Q8 Nov 132013 Q3 Quarterly reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information Document	9 Months Ended
Document and Entity Information Document	Sep. 30, 2013	Nov. 04, 2013
Document and Entity Information [Abstract]	'	'
Entity Registrant Name	'KBS Strategic Opportunity REIT, Inc.	'
Entity Central Index Key	'0001452936	'
Current Fiscal Year End Date	'--12-31	'
Entity Filer Category	'Smaller Reporting Company	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Document Fiscal Year Focus	'2013	'
Document Fiscal Period Focus	'Q3	'
Amendment Flag	'false	'
Entity Common Stock, Shares Outstanding	'	58,164,360

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Sep. 30, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Assets	'		'
Real estate held for investment, net	$596,158		$310,624
Real estate held for sale, net	3,539		7,009
Real estate loans receivable, net	21,787	[1]	71,906	[1]
Real estate securities	1,531		4,817
Total real estate and real estate-related investments, net	623,015		394,356
Cash and cash equivalents	66,687		125,960
Investment in unconsolidated joint venture	7,882		7,926
Rents and other receivables, net	7,542		2,757
Above-market leases, net	3,155		2,483
Assets related to real estate held for sale	417		616
Prepaid expenses and other assets	16,853		3,830
Total assets	725,551		537,928
Notes and bond payable:	'		'
Notes and bond payable, net	203,680		29,411
Notes payable related to real estate held for sale	0		4,340
Total notes and bond payable, net	203,680		33,751
Accounts payable and accrued liabilities	14,767		5,995
Due to affiliates	0		21
Below-market leases, net	4,930		2,031
Security deposits and other liabilities	5,965		2,827
Total liabilities	229,342		44,625
Commitments and contingencies (Note 13)	'		'
Redeemable common stock	11,258		9,651
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, 58,294,420 and 58,127,627 shares issued and outstanding as of September 30, 2013 and December 31, 2012, respectively	583		581
Additional paid-in capital	505,765		505,907
Cumulative distributions and net losses	-35,777		-38,615
Accumulated other comprehensive loss	-5		-13
Total KBS Strategic Opportunity REIT, Inc. stockholders' equity	470,566		467,860
Noncontrolling interests	14,385		15,792
Total equity	484,951		483,652
Total liabilities and equity	$725,551		$537,928

[1]	Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	58,294,420	58,127,627
Common stock, shares outstanding	58,294,420	58,127,627

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Revenues:	'	'	'	'
Rental income	$14,071	$3,572	$32,029	$8,946
Tenant reimbursements	3,342	493	6,513	996
Interest income from real estate loans receivable	5,826	231	9,552	231
Interest income from real estate securities	30	186	86	855
Other operating income	263	55	862	105
Total revenues	23,532	4,537	49,042	11,133
Expenses:	'	'	'	'
Operating, maintenance, and management	6,929	2,181	15,643	5,018
Real estate taxes and insurance	2,715	497	6,459	1,541
Asset management fees to affiliate	1,226	445	2,935	1,052
Real estate acquisition fees to affiliate	857	960	2,469	1,040
Real estate acquisition fees and expenses	348	371	834	384
General and administrative expenses	649	593	2,326	2,391
Depreciation and amortization	9,259	2,872	19,761	6,083
Interest expense	1,765	495	3,458	1,691
Total expenses	23,748	8,414	53,885	19,200
Other income:	'	'	'	'
Other interest income	5	17	49	63
Gain from extinguishment of debt	0	0	0	581
Income from unconsolidated joint venture	0	116	0	116
Gain on early payoff of real estate loan receivable	0	359	0	359
Gain on foreclosure of real estate loan receivable, net	7,543	0	7,543	0
Total other income	7,548	492	7,592	1,119
Income (loss) from continuing operations	7,332	-3,385	2,749	-6,948
Discontinued operations:	'	'	'	'
(Loss) gain on sale of real estate, net	0	-2	4,225	593
Loss from discontinued operations	-72	-273	-400	-818
Total (loss) income from discontinued operations	-72	-275	3,825	-225
Net income (loss)	7,260	-3,660	6,574	-7,173
Net loss (income) attributable to noncontrolling interests	84	161	-160	182
Net income (loss) attributable to common stockholders	$7,344	($3,499)	$6,414	($6,991)
Basic and diluted income (loss) per common share:	'	'	'	'
Continuing operations	$0.13	($0.09)	$0.05	($0.23)
Discontinued operations	$0	($0.01)	$0.06	($0.01)
Net income (loss) per common share	$0.13	($0.10)	$0.11	($0.24)
Weighted-average number of common shares outstanding, basic and diluted	58,330,896	35,958,174	58,265,522	29,732,658

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS (Unaudited) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Statement of Other Comprehensive Income [Abstract]	'	'	'	'
Net income (loss)	$7,260	($3,660)	$6,574	($7,173)
Other comprehensive income:	'	'	'	'
Unrealized gain on real estate securities	4	118	8	278
Total other comprehensive income	4	118	8	278
Total comprehensive income (loss)	7,264	-3,542	6,582	-6,895
Total comprehensive loss (income) attributable to noncontrolling interests	84	161	-160	182
Total comprehensive income (loss) attributable to common stockholders	$7,348	($3,381)	$6,422	($6,713)

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERSb EQUITY (Unaudited) (USD $)	Total	Total Stockholders' Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
In Thousands, except Share data, unless otherwise specified	Total	Total Stockholders' Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Noncontrolling Interests [Member]
Balance, value at Nov. 19, 2009	'	'	'	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Issuance of common stock, shares	'	'	56,584,976	'	'	'	'
Issuance of common stock, value	$561,700	'	'	'	'	'	'
Redemptions of common stock, shares	'	'	-162,635	'	'	'	'
Redemptions of common stock, value	-1,500	'	'	'	'	'	'
Balance, value at Sep. 30, 2013	484,951	'	583	'	'	'	'
Balance, shares at Sep. 30, 2013	58,294,420	'	58,294,420	'	'	'	'
Balance, value at Dec. 31, 2011	186,544	173,025	222	188,817	-15,968	-46	13,519
Balance, shares at Dec. 31, 2011	'	'	22,214,815	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Net income (loss)	-10,095	-9,762	'	'	-9,762	'	-333
Other comprehensive income	33	33	'	'	'	33	'
Issuance of common stock, shares	'	'	35,993,756	'	'	'	'
Issuance of common stock, value	357,334	357,334	360	356,974	'	'	'
Transfers to redeemable common stock	-4,360	-4,360	'	-4,360	'	'	'
Redemptions of common stock, shares	'	'	-80,944	'	'	'	'
Redemptions of common stock, value	-755	-755	-1	-754	'	'	'
Distributions declared	-12,885	-12,885	'	'	-12,885	'	'
Commissions on stock sales and related dealer manager fees to affiliate	-31,134	-31,134	'	-31,134	'	'	'
Other offering costs	-3,636	-3,636	'	-3,636	'	'	'
Noncontrolling interests contributions	2,630	'	'	'	'	'	2,630
Distributions to noncontrolling interest	-24	'	'	'	'	'	-24
Balance, value at Dec. 31, 2012	483,652	467,860	581	505,907	-38,615	-13	15,792
Balance, shares at Dec. 31, 2012	58,127,627	'	58,127,627	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Net income (loss)	6,574	6,414	'	'	6,414	'	160
Other comprehensive income	8	8	'	'	'	8	'
Issuance of common stock, shares	'	'	246,484	'	'	'	'
Issuance of common stock, value	2,340	2,340	2	2,338	'	'	'
Transfers to redeemable common stock	-1,607	-1,607	'	-1,607	'	'	'
Redemptions of common stock, shares	'	'	-79,691	'	'	'	'
Redemptions of common stock, value	-753	-753	'	-753	'	'	'
Distributions declared	-3,576	-3,576	'	'	-3,576	'	'
Other offering costs	-120	-120	'	-120	'	'	'
Noncontrolling interests contributions	644	'	'	'	'	'	644
Distributions to noncontrolling interest	-2,211	'	'	'	'	'	-2,211
Balance, value at Sep. 30, 2013	$484,951	$470,566	$583	$505,765	($35,777)	($5)	$14,385
Balance, shares at Sep. 30, 2013	58,294,420	'	58,294,420	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Cash Flows from Operating Activities:	'	'
Net income (loss)	$6,574	($7,173)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'
Continuing operations	19,761	6,083
Discontinued operations	169	267
Non-cash interest income on real estate related investments	-736	-124
Gain on sale of real estate, net	-4,225	-593
Gain from extinguishment of debt	0	-581
Gain on early payoff of real estate loan receivable, net	0	-359
Gain on foreclosure of real estate loan receivable, net	-7,543	0
Deferred rent	-3,355	-1,215
Amortization of above- and below-market leases, net	214	772
Amortization of deferred financing costs	565	223
Interest accretion on real estate securities	31	775
Amortization of premium on bond payable	-40	0
Changes in assets and liabilities:	'	'
Rents and other receivables	-1,322	-36
Deferred interest receivable	1,001	0
Prepaid expenses and other assets	-2,642	-2,092
Accounts payable and accrued liabilities	6,179	1,725
Due to affiliates	-21	-13
Security deposits and other liabilities	2,616	568
Net cash provided by (used in) operating activities	17,226	-1,773
Cash Flows from Investing Activities:	'	'
Acquisitions of real estate	-243,988	-95,545
Improvements to real estate	-11,440	-4,033
Proceeds from sales of real estate, net	7,545	1,843
Investments in real estate loans receivable	-21,568	-78,360
Proceeds from early payoff of real estate loan receivable	35,750	7,932
Principal repayments on real estate securities	3,263	33,892
Investment in unconsolidated joint venture	0	-8,000
Distribution of capital from unconsolidated joint venture	0	74
Net cash used in investing activities	-230,438	-142,197
Cash Flows from Financing Activities:	'	'
Proceeds from notes payable	194,416	2,051
Payments on notes payable	-33,227	-2,896
Payments on repurchase agreements	0	-30,201
Payments of deferred financing costs	-3,499	0
Proceeds from issuance of common stock	0	177,037
Payments to redeem common stock	-753	-542
Payments of commissions on stock sales and related dealer manager fees	0	-16,030
Payments of other offering costs	-195	-2,498
Distributions paid	-1,236	-4,341
Noncontrolling interests contributions	644	1,220
Distributions to noncontrolling interest	-2,211	-24
Net cash provided by financing activities	153,939	123,776
Net decrease in cash and cash equivalents	-59,273	-20,194
Cash and cash equivalents, beginning of period	125,960	86,379
Cash and cash equivalents, end of period	66,687	66,185
Supplemental Disclosure of Cash Flow Information:	'	'
Interest paid	2,709	1,866
Supplemental Disclosure of Noncash Transactions:	'	'
Increase in loan origination fees payable	0	123
Increase in other offering costs payable	0	22
Increase in lease incentive payable	550	210
Increase in capital expenses payable	1,645	918
Investment in real estate acquired through foreclosure	45,943	0
Assets assumed in connection with foreclosure of real estate	7,156	0
Liabilities assumed in connection with foreclosure of real estate	9,671	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	$2,340	$8,544

ORGANIZATION

ORGANIZATION	9 Months Ended
ORGANIZATION	Sep. 30, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
ORGANIZATION	'
	ORGANIZATION
	KBS Strategic Opportunity REIT, Inc. (the “Company”) was formed on October 8, 2008 as a Maryland corporation and elected to be taxed as a real estate investment trust (“REIT”) beginning with the taxable year ended December 31, 2010. The Company conducts its business primarily through KBS Strategic Opportunity Limited Partnership (the “Operating Partnership”), a Delaware limited partnership formed on December 10, 2008. The Company is the sole general partner of, and owns a 0.1% partnership interest in, the Operating Partnership. KBS Strategic Opportunity Holdings LLC (“REIT Holdings”), a Delaware limited liability company formed on December 9, 2008, owns the remaining 99.9% interest in the Operating Partnership and is its sole limited partner. The Company is the sole member and manager of REIT Holdings.
	Subject to certain restrictions and limitations, the business of the Company is externally managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, pursuant to an advisory agreement the Company renewed with the Advisor on October 8, 2013 (the “Advisory Agreement”). The Advisor conducts the Company’s operations and manages its portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments. The Advisor owns 20,000 shares of the Company’s common stock.
	On January 8, 2009, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to offer a minimum of 250,000 shares and a maximum of 140,000,000 shares of common stock for sale to the public (the “Offering”), of which 100,000,000 shares were registered in a primary offering and 40,000,000 shares were registered to be sold under the Company’s dividend reinvestment plan. The SEC declared the Company’s registration statement effective on November 20, 2009. The Company ceased offering shares of common stock in its primary offering on November 14, 2012 and continues to offer shares under its dividend reinvestment plan.
	The Company intends to use substantially all of the net proceeds from the Offering to invest in and manage a diverse portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments. Such investments have included, and are expected to continue to include, non-performing loans (which have resulted in, and may continue to result in, the acquisition of the underlying property securing the loan through foreclosure or similar processes), non-stabilized or undeveloped properties, commercial mortgage backed securities (“CMBS”) and other opportunistic real estate-related assets. The Company may also invest in entities that make similar investments. As of September 30, 2013, the Company owned 11 office properties, one office campus consisting of nine office buildings, one office portfolio consisting of four office buildings and 43 acres of undeveloped land, one office portfolio consisting of three office properties, one industrial/flex property (which was held for sale), one retail property, one apartment property, 1,375 acres of undeveloped land, one investment in CMBS, one first mortgage loan and one investment in an unconsolidated joint venture.
	The Company sold 56,584,976 shares of common stock in its primary offering for gross offering proceeds of $561.7 million. As of September 30, 2013, the Company had sold 1,575,836 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $15.0 million. Also, as of September 30, 2013, the Company had redeemed 162,635 shares sold in the Offering for $1.5 million. Additionally, on December 29, 2011 and October 23, 2012, the Company issued 220,994 shares and 55,249 shares of common stock, respectively, for $2.0 million and $0.5 million, respectively, in private transactions exempt from the registration requirements pursuant to Section 4(2) of the Securities Act of 1933.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Sep. 30, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2012. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2012 included in the Company’s Annual Report on Form 10-K filed with the SEC.
	Principles of Consolidation and Basis of Presentation
	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the FASB ASC and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013.
	The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries, and joint ventures in which the Company has a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation.
	Use of Estimates
	The preparation of the consolidated financial statements 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 the prior period.
	Segments
	The Company has invested in non-performing loans, opportunistic real estate and other real estate-related assets and it has classified its operations by investment type: real estate-related and real estate. In general, the Company intends to hold its investments in non-performing loans, opportunistic real estate and other real estate-related assets for capital appreciation. Traditional performance metrics of non-performing loans, opportunistic real estate and other real estate-related assets may not be meaningful as these investments are non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views non-performing loans, opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from non-performing loans, opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment.
	Per Share Data
	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three and nine months ended September 30, 2013 and 2012.
	Distributions declared per share were $0.062 during the nine months ended September 30, 2013 and $0.352 and $0.400 during the three and nine months ended September 30, 2012, respectively. No distributions were declared during the three months ended September 30, 2013.
	Recently Issued Accounting Standards Updates
	In February 2013, the Financial Accounting Standards Board (“FASB”) issued ASU No. 2013-02, Comprehensive Income (Topic 220): Reporting of Amounts Reclassified Out of Accumulated Other Comprehensive Income (“ASU No. 2013-02”). ASU No. 2013-02 requires an entity to provide information about the amounts reclassified out of accumulated other comprehensive income by component. An entity is also required to present, either on the face of the statement where net income is presented or in the notes, significant amounts reclassified out of accumulated other comprehensive income by respective line items of net income only if the amount reclassified is required under GAAP to be reclassified to net income in its entirety in the same reporting period. For other amounts that are not required under GAAP to be reclassified in their entirety to net income, an entity is required to cross-reference to other disclosures required under GAAP that provide additional detail about these amounts, such as when a portion of the amount reclassified out of accumulated other comprehensive income is reclassified to a balance sheet account instead of directly to income or expense in the same reporting period. ASU No. 2013-02 is effective for reporting periods beginning after December 31, 2012. The adoption of ASU No. 2013-02 did not have a material impact on the Company’s consolidated financial statements.

RECENT_ACQUISITIONS_OF_REAL_ES

RECENT ACQUISITIONS OF REAL ESTATE	9 Months Ended
RECENT ACQUISITIONS OF REAL ESTATE	Sep. 30, 2013
Business Combinations [Abstract]	'
RECENT ACQUISITIONS OF REAL ESTATE	'
	RECENT ACQUISITIONS OF REAL ESTATE
	During the nine months ended September 30, 2013, the Company acquired the following properties (in thousands):


										Intangibles
	Property Name	City		State	Acquisition Date	Land		Building and Improvements		Tenant Origination and Absorption Costs		Above-Market Lease Assets		Below-Market			Total
														Lease Liabilities			Purchase
																	Price
	Austin Suburban Portfolio	Austin		TX	3/28/13	$	8,288	$	62,321	$	5,424	$	158	$	(1,410	)	$	74,781
	Austin Suburban Portfolio	Austin		TX	3/28/13	$	8,288	$	62,321	$	5,424	$	158	$	(1,410	)	$	74,781
	Westmoor Center	Westminster		CO	6/12/13	10,058		63,134		10,376		781		(102		)	84,247
	Westmoor Center	Westminster		CO	6/12/13	10,058		63,134		10,376		781		(102		)	84,247
	Central Building	Seattle		WA	7/10/13	7,015		23,749		2,375		824		(3		)	33,960
	Central Building	Seattle		WA	7/10/13	7,015		23,749		2,375		824		(3		)	33,960
	50 Congress Street	Boston		MA	7/11/13	9,876		39,604		3,851		107		(2,438		)	51,000
	50 Congress Street	Boston		MA	7/11/13	9,876		39,604		3,851		107		(2,438		)	51,000
						$	35,237	$	188,808	$	22,026	$	1,870	$	(3,953	)	$	243,988
						$	35,237	$	188,808	$	22,026	$	1,870	$	(3,953	)	$	243,988
	The intangible assets and liabilities acquired in connection with these acquisitions have weighted-average amortization periods as of the date of acquisition as follows (in years):


		Tenant Origination and		Above-Market	Below-Market
		Absorption Costs		Lease Assets	Lease Liabilities
	Austin Suburban Portfolio	3.5		1.4	2.7
	Westmoor Center	4.1		4.1	4.3
	Central Building	5.7		4.5	1
	50 Congress Street	4.3		3.5	4.7
	The Company recorded each real estate acquisition as a business combination and expensed $3.3 million of total acquisition costs. For the nine months ended September 30, 2013, the Company recognized $10.6 million of total revenues and $6.5 million of operating expenses from these properties.
	Real Estate Acquired Through Foreclosure
	On March 14, 2012, the Company, through an indirect wholly owned subsidiary, purchased, at a discount, a non-performing first mortgage loan (the “1180 Raymond First Mortgage”) for $35.0 million plus closing costs. The borrower under the 1180 Raymond First Mortgage was 1180 Astro Urban Renewal Investors, LLC, which is not affiliated with the Company or the Advisor. The 1180 Raymond First Mortgage was secured by a multifamily tower containing 317 apartment units located in Newark, New Jersey (“1180 Raymond”).
	On August 20, 2013, the Company was the successful bidder at the foreclosure sale of 1180 Raymond. As a result, the Company obtained the rights to the profits and losses of 1180 Raymond; however, the Company is currently working with the City of Newark to formally obtain title to the property. 1180 Raymond was converted from an office building to a multi-family housing property under the City of Newark’s urban redevelopment plan and is subject to certain long term tax exemptions. Among other requirements, the purchaser of 1180 Raymond must be an urban renewal entity qualified to do business under a long term tax exemption law. The Company believes that it meets all of the requirements to obtain title to 1180 Raymond and all that is required for the transfer of title is for the city to complete its review process and approve the transfer. Accordingly, the Company ceased its recognition of an interest in the 1180 Raymond First Mortgage and consolidated 1180 Raymond along with any other assets or liabilities assumed on August 20, 2013, as the Company has obtained a controlling financial interest in the property and also has physical possession of the property. The Company allocated the fair value of 1180 Raymond to the tangible assets and liabilities and identifiable intangible assets and liabilities assumed in the foreclosure as follows (in thousands):


	Land	$	8,292
	Land	$	8,292
	Building and improvements	34,918
	Building and improvements	34,918
	Tenant origination and absorption costs (1)	2,733
	Tenant origination and absorption costs (1)	2,733
	Property tax abatement intangible asset (2)	4,817
	Property tax abatement intangible asset (2)	4,817
	Other assets	2,339
	Other assets	2,339
	Bond payable (3)	(7,140		)
	Premium on bond payable assumed (3)	(1,640		)
	Other liabilities	(891		)
	Net assets acquired through foreclosure	$	43,428
	Net assets acquired through foreclosure	$	43,428
	_____________________
	(1) The tenant origination and absorption costs as of the date of acquisition have a weighted-average amortization period of 0.9 years.
	(2) Pursuant to an agreement with the City of Newark, the developer of 1180 Raymond received a property tax abatement through 2021, which was assumed by the Company upon foreclosure. The property tax abatement intangible asset is amortized on a straight-line basis over its remaining life.
	(3) The Company assumed the obligations related to a municipal bond payable with a face amount of $7.1 million bearing interest at a fixed rate of 6.5% per annum and maturing on September 1, 2036. The Company recorded the bond payable assumed at an estimated fair value of $8.8 million, resulting in a premium on bond payable assumed due to an above-market interest rate of $1.6 million.
	As a result, the Company recognized a gain on foreclosure of the 1180 Raymond First Mortgage of $7.5 million, which represents the difference between the net fair value of the assets and liabilities assumed and the carrying value of the 1180 Raymond First Mortgage at the time of foreclosure, adjusted for any costs and expenses incurred related to the transaction.

REAL_ESTATE_HELD_FOR_INVESTMEN

REAL ESTATE HELD FOR INVESTMENT	9 Months Ended
	Sep. 30, 2013
Real Estate [Abstract]	'
REAL ESTATE FOR INVESTMENT	'
	REAL ESTATE HELD FOR INVESTMENT
	As of September 30, 2013, the Company owned 11 office properties, one office campus consisting of nine office buildings, one office portfolio consisting of four office buildings and 43 acres of undeveloped land, one office portfolio consisting of three office properties and one retail property encompassing, in the aggregate, approximately 4.1 million rentable square feet. As of September 30, 2013, these properties were 69% occupied. In addition, the Company owned one apartment property, containing 317 units and encompassing approximately 0.3 million rentable square feet, which was 72% occupied. The Company also owned 1,375 acres of undeveloped land. The following table summarizes the Company’s real estate investments as of September 30, 2013 and December 31, 2012, respectively (in thousands):


			September 30, 2013				31-Dec-12
	Land		$	136,182			$	91,412

	Buildings and improvements		438,883				204,783

	Tenant origination and absorption costs		45,144				22,609

	Total real estate, cost		620,209				318,804

	Accumulated depreciation and amortization		(24,051		)		(8,180		)
	Total real estate, net		$	596,158			$	310,624

	The following table provides summary information regarding the properties owned by the Company as of September 30, 2013 (in thousands):


	Property		Date		City		State		Property Type		Land			Building			Tenant Origination and Absorption			Total			Accumulated Depreciation and Amortization				Total			Ownership %
			Acquired or Foreclosed on											and Improvements						Real Estate at Cost							Real Estate,
																											Net
	Village Overlook Buildings		8/2/10		Stockbridge		GA		Office		$	440		$	1,557		$	—		$	1,997		$	(224	)		$	1,773		100	%

	Academy Point Atrium I		11/3/10		Colorado Springs		CO		Office		1,650			2,950			—			4,600			(339		)		4,261			100	%

	Northridge Center I & II		3/25/11		Atlanta		GA		Office		2,234			5,835			86			8,155			(689		)		7,466			100	%

	Iron Point Business Park		6/21/11		Folsom		CA		Office		2,670			18,530			191			21,391			(1,541		)		19,850			100	%

	1635 N. Cahuenga Building		8/3/11		Los Angeles		CA		Office		3,112			4,635			347			8,094			(762		)		7,332			70	%

	Richardson Portfolio:
	Palisades Central I		11/23/11		Richardson		TX		Office		1,037			7,521			1,318			9,876			(1,344		)		8,532			90	%

	Palisades Central II		11/23/11		Richardson		TX		Office		810			16,345			2,050			19,205			(2,581		)		16,624			90	%

	Greenway I		11/23/11		Richardson		TX		Office		561			2,160			—			2,721			(161		)		2,560			90	%

	Greenway III		11/23/11		Richardson		TX		Office		702			3,780			944			5,426			(843		)		4,583			90	%

	Undeveloped Land		11/23/11		Richardson		TX		Undeveloped Land		5,782			—			—			5,782			—				5,782			90	%

	Total Richardson Portfolio										8,892			29,806			4,312			43,010			(4,929		)		38,081

	Park Highlands		12/30/11		North Las Vegas		NV		Undeveloped Land		24,053			—			—			24,053			—				24,053			50.1	%

	Bellevue Technology Center		7/31/12		Bellevue		WA		Office		25,506			49,518			4,330			79,354			(3,211		)		76,143			100	%

	Powers Ferry Landing East		9/24/12		Atlanta		GA		Office		4,261			11,390			951			16,602			(1,045		)		15,557			100	%

	1800 West Loop		12/4/12		Houston		TX		Office		8,360			55,195			5,728			69,283			(2,809		)		66,474			100	%

	West Loop I & II		12/7/12		Houston		TX		Office		7,300			27,223			3,639			38,162			(2,109		)		36,053			100	%

	Burbank Collection		12/12/12		Burbank		CA		Retail		4,175			7,725			1,076			12,976			(372		)		12,604			90	%

	Austin Suburban Portfolio		3/28/13		Austin		TX		Office		8,288			62,880			5,283			76,451			(2,501		)		73,950			100	%

	Westmoor Center		6/12/13		Westminster		CO		Office		10,058			63,112			10,247			83,417			(1,899		)		81,518			100	%

	Central Building		7/10/13		Seattle		WA		Office		7,015			23,747			2,370			33,132			(335		)		32,797			100	%

50 Congress Street		7/11/13		Boston		MA		Office		9,876			39,619			3,851			53,346			(709		)		52,637			100	%

1180 Raymond		8/20/13		Newark		NJ		Apartment		8,292			35,161			2,733			46,186			(577		)		45,609			100	%

										$	136,182		$	438,883		$	45,144		$	620,209		$	(24,051	)		$	596,158

Operating Leases
Certain of the Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of September 30, 2013, the leases, excluding options to extend and apartment leases, which have terms that are generally one year or less, had remaining terms of up to 11.8 years with a weighted-average remaining term of 3.6 years. Some of the leases have provisions to extend the lease agreements, options for early termination 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 tenants 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 leases and the creditworthiness of the tenant, but generally are not significant amounts. 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 and assumed in real estate acquisitions or foreclosures related to tenant leases are included in security deposits and other liabilities in the accompanying consolidated balance sheets and totaled $3.5 million and $1.4 million as of September 30, 2013 and December 31, 2012, respectively.
During the nine months ended September 30, 2013 and 2012, the Company recognized deferred rent from tenants of $3.4 million and $1.2 million, respectively, net of lease incentive amortization. As of September 30, 2013 and December 31, 2012, the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $6.3 million and $2.3 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. 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.
As of September 30, 2013, the future minimum rental income from the Company’s properties, excluding apartment leases, which have terms that are generally one year or less, under non-cancelable operating leases was as follows (in thousands):


October 1, 2013 through December 31, 2013	$	11,876

2014	47,776

2015	45,066

2016	38,139

2017	28,959

Thereafter	51,592

	$	223,408

As of September 30, 2013, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:


Industry		Number of		Annualized				Percentage of
		Tenants		Base Rent (1)				Annualized
				(in thousands)				Base Rent
Professional, Scientific and Legal		48		$	6,751			11.5	%

_____________________
(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2013, 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 industries accounted for more than 10% of annualized base rent. No material tenant credit issues have been identified at this time.
Geographic Concentration Risk
As of September 30, 2013, the Company’s real estate investments in Texas, Washington and Colorado represented 29.6%, 15.0% and 11.8% 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 Texas, Washington and Colorado 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 space resulting from the local business climate, could adversely affect the Company’s operating results and its ability to make distributions to stockholders.

TENANT_ORIGINATION_AND_ABSORPT

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	9 Months Ended
	Sep. 30, 2013
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	'
	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW‑MARKET LEASE LIABILITIES
	As of September 30, 2013 and December 31, 2012, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):


		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		September 30,			December 31,			September 30,			December 31,			September 30,			December 31,
		2013			2012			2013			2012			2013			2012
	Cost	$	45,144		$	22,609		$	4,483		$	3,474		$	(6,021	)	$	(2,157	)

	Accumulated Amortization	(8,467		)	(3,164		)	(1,328		)	(991		)	1,091			126

	Net Amount	$	36,677		$	19,445		$	3,155		$	2,483		$	(4,930	)	$	(2,031	)

	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):


		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Three Months Ended September 30,						For the Three Months Ended September 30,						For the Three Months Ended September 30,
		2013			2012			2013			2012			2013			2012
	Amortization	$	(3,648	)	$	(1,254	)	$	(374	)	$	(296	)	$	523		$	112



		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Nine Months Ended						For the Nine Months Ended						For the Nine Months Ended
		September 30,						September 30,						September 30,
		2013			2012			2013			2012			2013			2012
	Amortization	$	(7,527	)	$	(2,780	)	$	(1,199	)	$	(851	)	$	1,055		$	179

REAL_ESTATE_LOANS_RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	9 Months Ended
REAL ESTATE LOANS RECEIVABLE	Sep. 30, 2013
Receivables [Abstract]	'
REAL ESTATE LOANS RECEIVABLE	'
	REAL ESTATE LOANS RECEIVABLE
	As of September 30, 2013 and December 31, 2012, the Company, through wholly owned subsidiaries, had invested in or originated outstanding real estate loans receivable as set forth below (in thousands):


	Loan Name		Date Acquired/ Originated		Property Type	Loan Type		Outstanding Principal Balance as of September 30, 2013 (1)		Book Value		Book Value as of December 31, 2012 (2)		Contractual Interest Rate (3)	Annualized Effective Interest Rate (3)	Maturity Date
	Location of Related Property or									as of September 30, 2013 (2)
	Collateral
	University House First Mortgage
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000	$	21,787	$	—	11.00%	13.00%	4/1/14
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000	$	21,787	$	—	11.00%	13.00%	4/1/14
	1180 Raymond First Mortgage (4)
	Newark, New Jersey		3/14/12		Multifamily	Non-Performing Mortgage		—		—		35,678		(4)	(4)	(4)
	Newark, New Jersey		3/14/12		Multifamily	Non-Performing Mortgage		—		—		35,678		(4)	(4)	(4)
	Ponte Palmero First Mortgage (5)
	Cameron Park, California		9/13/12		Retirement Community	Mortgage		—		—		36,228		(5)	(5)	(5)
	Cameron Park, California		9/13/12		Retirement Community	Mortgage		—		—		36,228		(5)	(5)	(5)
								$	22,000	$	21,787	$	71,906
								$	22,000	$	21,787	$	71,906
	_____________________
	(1) Outstanding principal balance as of September 30, 2013 represents original principal balance outstanding under the loan, increased for any subsequent fundings, including interest income deferred until maturity.
	(2) Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.
	(3) Contractual interest rates are the stated interest rates on the face of the loans. Annualized effective interest rates are calculated as the actual interest income recognized in 2013, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rates and contractual interest rates presented are as of September 30, 2013.
	(4) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure”.
	(5) See “Recent Transactions - Ponte Palmero First Mortgage” below.
	The following summarizes the activity related to the real estate loans receivable for the nine months ended September 30, 2013 (in thousands):


	Real estate loans receivable - December 31, 2012	$	71,906
	Real estate loans receivable - December 31, 2012	$	71,906
	Face value of real estate loan receivable originated	22,000
	Face value of real estate loan receivable originated	22,000
	Early payoff of Ponte Palmero First Mortgage	(39,144		)
	Foreclosure of 1180 Raymond First Mortgage	(35,672		)
	Closing costs and origination fees on origination of real estate loan receivable	(432		)
	Deferred interest receivable and interest accretion	2,393
	Deferred interest receivable and interest accretion	2,393
	Accretion of closing costs and origination fees on real estate loans receivable, net	736
		736
	Real estate loans receivable - September 30, 2013	$	21,787
	Real estate loans receivable - September 30, 2013	$	21,787
	For the three and nine months ended September 30, 2013, interest income from real estate loans receivable consisted of the following (in thousands):


			Three Months Ended			Nine Months Ended
			September 30, 2013			September 30, 2013
	Contractual interest income (including deferred interest)		$	4,960		$	7,630
	Contractual interest income (including deferred interest)		$	4,960		$	7,630
	Interest accretion		328			1,186
	Interest accretion		328			1,186
	Accretion of closing costs and origination fees, net		538			736
	Accretion of closing costs and origination fees, net		538			736
	Interest income from real estate loans receivable		$	5,826		$	9,552
	Interest income from real estate loans receivable		$	5,826		$	9,552
	Recent Transactions
	Ponte Palmero First Mortgage
	On September 13, 2012, the Company, through an indirect wholly owned subsidiary, originated and funded a first mortgage loan (the “Ponte Palmero First Mortgage Loan”) for $35.8 million plus closing costs. The borrower under the Ponte Palmero First Mortgage Loan was Cameron Park Senior Living Delaware, LLC (the “Borrower”), which is not affiliated with the Company or the Advisor. The Ponte Palmero First Mortgage Loan was secured by a Class A continuing care retirement community located in Cameron Park, California.
	The maturity date of the Ponte Palmero First Mortgage Loan was October 1, 2015, and the loan bore interest as follows: a floating rate of 1000 basis points over one-month LIBOR during the first twelve months of the term of the loan, but at no point less than 11.0%; a floating rate of 1200 basis points over one-month LIBOR during the 13th through 24th month of the term of the loan, but at no point less than 13.0%; a floating rate of 1700 basis points over one-month LIBOR, during the 25th through 36th month of the term of the loan, but at no point less than 18.0%. Under the loan agreement, the Borrower had the right to prepay the loan in whole (but not in part) after 15 months had elapsed since the loan origination date, subject to certain restrictions.
	On August 30, 2013, the Company agreed with the Borrower to allow the Borrower to pay off the Ponte Palmero First Mortgage Loan in full in the amount of $37.7 million, which includes the outstanding principal balance and all accrued and unpaid interest. In addition, the Borrower paid to the Company an exit fee of $4.0 million and additional interest of $1.3 million that would have accrued had the loan continued to be outstanding through December 12, 2013, which is 15 months from the loan origination date. The exit fee and additional interest are included in interest income from real estate loans receivable in the accompanying consolidated statements of operations.

REAL_ESTATE_SECURITIES

REAL ESTATE SECURITIES	9 Months Ended
	Sep. 30, 2013
Real Estate Securities [Abstract]	'
REAL ESTATE SECURITIES	'
	REAL ESTATE SECURITIES
	As of September 30, 2013, the Company had invested in CMBS as follows (dollars in thousands):


	Description		Credit Rating		Scheduled Maturity		Coupon Rate		Face Amount				Amortized Cost Basis		Unrealized Gains (Losses)			Fair Value
	CMBS		AAA		5/10/43		4.54%		$	1,522			$	1,536	$	(5	)	$	1,531

	As of September 30, 2013, the Company determined the fair value of the fixed rate CMBS to be $1.5 million, resulting in unrealized gains of $8,000 for the nine months ended September 30, 2013. During the nine months ended September 30, 2013, the Company did not recognize any other-than-temporary impairments on its real estate securities. It is difficult to predict the timing or magnitude of other-than-temporary impairments and significant judgments are required in determining impairments, including, but not limited to, assumptions regarding estimated prepayments, gains, losses and changes in interest rates. As a result, actual realized gains or losses could materially differ from these estimates.
	The following summarizes the activity related to real estate securities for the nine months ended September 30, 2013 (in thousands):


		Amortized Cost Basis				Unrealized				Total
						Gain (Loss)
	Real estate securities - December 31, 2012	$	4,830			$	(13	)		$	4,817

	Principal repayments received on real estate securities	(3,263		)		—				(3,263		)

	Unrealized gains	—				8				8

	Amortization of premium on securities	(31		)		—				(31		)

	Real estate securities - September 30, 2013	$	1,536			$	(5	)		$	1,531

REAL_ESTATE_HELD_FOR_SALE_AND_

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	9 Months Ended
	Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	'
	REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS
	The operations of properties held for sale or to be disposed of and the aggregate net gains recognized upon their disposition are presented as discontinued operations in the accompanying consolidated statements of operations for all periods presented. During the year ended December 31, 2012, the Company disposed of one office building and four parcels of partially improved land encompassing 6.0 acres. During the nine months ended September 30, 2013, the Company disposed of one office building and classified one industrial/flex property as held for sale. The following table summarizes operating income from discontinued operations for the three and nine months ended September 30, 2013 and 2012 (in thousands):


		Three Months Ended						Nine Months Ended September 30,
		September 30,
		2013			2012			2013			2012
	Total revenues and other income	$	64		$	149		$	351		$	445

	Total expenses	136			422			751			1,263

	Loss from discontinued operations before gain on sales of real estate	(72		)	(273		)	(400		)	(818		)
	(Loss) gain on sales of real estate, net	—			(2		)	4,225			593

	(Loss) income from discontinued operations	$	(72	)	$	(275	)	$	3,825		$	(225	)

NOTES_AND_BOND_PAYABLE

NOTES AND BOND PAYABLE

9 Months Ended

Sep. 30, 2013

Notes and Bonds Payable [Abstract]

NOTES AND BOND PAYABLE

As of September 30, 2013 and December 31, 2012, the Company’s notes and bond payable consisted of the following (dollars in thousands):

Principal as of

Principal as of December 31, 2012

Contractual Interest Rate as of September 30, 2013 (1)

Effective Interest Rate at September 30, 2013 (1)

Payment Type

Maturity

30-Sep-13

Date (2)

Richardson Portfolio Mortgage Loan (3)

30,457

33,751

(3)

6.25%

Interest Only

11/30/15

Bellevue Technology Center Mortgage Loan (4)

44,450

—

One-Month LIBOR + 2.25%

2.43%

Interest Only

3/1/17

Portfolio Revolving Loan Facility (5)

—

One-Month LIBOR + 2.25%

N/A

Interest Only

5/1/17

Portfolio Mortgage Loan (6)

80,668

—

One-Month LIBOR + 2.50%

2.68%

Interest Only

7/1/17

1635 N. Cahuenga Mortgage Loan (7)

4,650

—

One-Month LIBOR + 2.35%

2.53%

Interest Only

8/1/16

Burbank Collection Mortgage Loan (8)

8,200

—

One-Month LIBOR + 2.35%

2.53%

Interest Only

9/30/16

50 Congress Mortgage Loan (9)

26,535

—

One-Month LIBOR + 1.90%

2.08%

Interest Only

10/1/17

1180 Raymond Bond (10)

7,120

—

6.50%

Principal

9/1/36

& Interest

Total Notes and Bond Payable principal outstanding

202,080

33,751

Premium on Bond Payable, net (11)

1,600

—

Total Notes and Bond Payable, net

203,680

33,751

_____________________

(1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2013. Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at September 30, 2013, where applicable.

(2) Represents the initial maturity date or the maturity date as extended as of September 30, 2013; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown.

(3) On November 23, 2011, the Richardson Joint Venture entered into a four-year mortgage loan for borrowings up to $46.1 million. At closing, $29.5 million (the “Initial Funding”) had been disbursed to the Richardson Joint Venture and $16.6 million (the “Holdback”) remained available for future disbursements, subject to certain conditions set forth in the loan agreement. On January 11, 2013, the Company sold one of the properties in the Richardson Portfolio and repaid $5.2 million of the Initial Funding. As of September 30, 2013, the outstanding principal balance was $30.5 million and $9.4 million of the Holdback remains available for future disbursements, subject to certain conditions set forth in the loan agreement. Interest on the Initial Funding is calculated at a fixed rate of 6.25% during the initial term of the loan. Interest on the Holdback is calculated at a variable annual rate of 400 basis points over three-month LIBOR, but at no point shall the interest rate be less than 6.25%.

(4) On February 22, 2013, the Company entered into a four-year mortgage loan for borrowings up to $53.0 million. As of September 30, 2013, $44.5 million had been disbursed to the Company and the remaining $8.5 million is available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain conditions contained in the loan documents. Monthly payments are initially interest only. Beginning March 1, 2016, monthly payments also include principal amortization payments of up to $60,000 per month.

(5) On May 1, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $72.5 million secured by the 1800 West Loop Building and the Iron Point Business Park (the “Portfolio Revolving Loan Facility”). The Portfolio Revolving Loan Facility is comprised of $59.5 million of revolving debt and $13.0 million of non-revolving debt available to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of September 30, 2013, the Company had no outstanding principal amount. Monthly payments are initially interest only. Beginning June 1, 2016, and to the extent that there are amounts outstanding under the non-revolving portion of the loan, monthly payments will include interest and principal amortization payments of up to $80,000 per month.

(6) On June 26, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $120.0 million secured by Northridge Center I & II, Powers Ferry Landing East, West Loop I & II and the Austin Suburban Portfolio (the “Portfolio Mortgage Loan”). As of September 30, 2013, $80.7 million had been disbursed to the Company with the remaining $39.3 million available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. Monthly payments are initially interest only. Beginning July 1, 2016, monthly payments will include principal and interest with principal payments calculated using an amortization schedule of 30 years and an assumed annual interest rate of 6.0%.

(7) See “- Recent Transactions - 1635 N. Cahuenga Mortgage Loan” below.

(8) See “- Recent Transactions - Burbank Collection Mortgage Loan” below.

(9) See “- Recent Transactions - 50 Congress Mortgage Loan” below.

(10) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure.”

(11) Represents the unamortized premium on bond payable due to the above-market interest rates when the bond was assumed. The premium is amortized over the remaining life of the bond.

During the three and nine months ended September 30, 2013, the Company incurred $1.8 million and $3.5 million of interest expense, respectively. During the three and nine months ended September 30, 2012, the Company incurred $0.5 million and $1.7 million of interest expense, respectively. Included in interest expense for the three and nine months ended September 30, 2013 was $0.2 million and $0.4 million of amortization of deferred financing costs, respectively. Included in interest expense for the three and nine months ended September 30, 2012, was $0.1 million and $0.2 million of amortization of deferred financing costs, respectively. As of September 30, 2013 and December 31, 2012, the Company’s deferred financing costs were $3.9 million and $0.7 million, respectively, net of amortization, and are included in prepaid expenses and other assets on the accompanying consolidated balance sheets. As of September 30, 2013 and December 31, 2012, the Company’s interest payable was $0.4 million and $3,000, respectively.

The following is a schedule of maturities, including principal amortization payments, for all notes and bond payable outstanding as of September 30, 2013 (in thousands):

October 1, 2013 through December 31, 2013

2014

140

2015

30,642

2016

13,639

2017

151,164

Thereafter

6,460

202,080

The Company’s notes payable contain financial debt covenants. As of September 30, 2013, the Company was in compliance with all of these debt covenants.

Recent Transactions

1635 N. Cahuenga Mortgage Loan

On July 24, 2013, the joint venture that owns the 1635 N. Cahuenga Building entered into a three-year secured mortgage loan with an unaffiliated lender for borrowings of up to $6.7 million secured by the 1635 N. Cahuenga Building (the “1635 N. Cahuenga Mortgage Loan”). The Company owns a 70% equity interest in the joint venture that owns the 1635 N. Cahuenga Building. As of September 30, 2013, $4.7 million had been disbursed to the joint venture with the remaining $2.0 million available for future disbursements, subject to certain terms and conditions contained in the loan documents. The 1635 N. Cahuenga Mortgage Loan matures on August 1, 2016, with an option to extend the maturity date to August 1, 2018 subject to certain conditions contained in the loan documents. The 1635 N. Cahuenga Mortgage Loan bears interest at a floating rate of 235 basis points over one-month LIBOR. Beginning August 1, 2015, monthly payments will also include principal amortization payments of $7,000 per month with the remaining principal balance and all accrued and unpaid interest and fees due at maturity. The joint venture has the right to prepay the loan in whole at any time or in part from time to time, subject to the payment of certain expenses potentially incurred by the lender as a result of the prepayment and subject to certain other conditions contained in the loan documents.

KBS SOR Properties, LLC, a separate wholly owned subsidiary of the Company through which the Company indirectly owns all of its real estate assets (“KBS SOR Properties”), provided a limited guaranty of the 1635 N. Cahuenga Mortgage Loan with respect to certain potential deficiencies, losses or damages suffered by the lender resulting from certain intentional acts committed by the borrower or KBS SOR Properties in violation of the loan documents. KBS SOR Properties also provided a guaranty of the principal balance and any interest or other sums outstanding under the 1635 N. Cahuenga Mortgage Loan in the event of certain bankruptcy or insolvency proceedings involving the borrower.

Burbank Collection Mortgage Loan

On September 10, 2013, the joint venture that owns the Burbank Collection entered into a three-year secured mortgage loan with an unaffiliated lender for borrowings of up to $11.2 million secured by the Burbank Collection (the “Burbank Collection Mortgage Loan”). The Company owns a 90% equity interest in the joint venture that owns the Burbank Collection. As of September 30, 2013, $8.2 million had been disbursed to the joint venture with the remaining $3.0 million available for future disbursements, subject to certain terms and conditions contained in the loan documents. The Burbank Collection Mortgage Loan matures on September 30, 2016, with two options to extend the maturity date to September 30, 2017 and September 30, 2018, respectively, subject to certain terms and conditions contained in the loan documents. The Burbank Collection Mortgage Loan bears interest at a floating rate of 235 basis points over one-month LIBOR. Monthly payments are interest only. The joint venture has the right to prepay the loan in whole at any time or in part from time to time, subject to the payment of certain expenses potentially incurred by the lender as a result of the prepayment and subject to certain other conditions contained in the loan documents.

KBS SOR Properties provided a limited guaranty of the interest and 25% of the principal outstanding under the Burbank Collection Mortgage Loan, subject to a maximum liability cap of $3.5 million. Such maximum liability cap will not apply with respect to certain potential deficiencies, losses or damages suffered by the lender resulting from certain intentional acts committed by the borrower or KBS SOR Properties in violation of the loan documents or in the event of certain bankruptcy or insolvency proceedings involving the borrower or KBS SOR Properties.

50 Congress First Mortgage Loan

On September 25, 2013, the Company, through an indirect wholly owned subsidiary, entered into a four-year secured mortgage loan with an unaffiliated lender for borrowings of up to $32.9 million secured by 50 Congress (the “50 Congress Mortgage Loan”). On September 30, 2013, $26.5 million of the 50 Congress Mortgage Loan was funded. Of the remaining $6.3 million available under the 50 Congress Mortgage Loan, $3.3 million is available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements at 50 Congress and $3.0 million is available through October 1, 2016, subject to certain terms and conditions contained in the loan documents. The 50 Congress Mortgage Loan matures on October 1, 2017, with an option to extend the maturity date to October 1, 2018, subject to certain other terms and conditions contained in the loan documents. The 50 Congress Mortgage Loan bears interest at a floating rate of 190 basis points over one-month LIBOR. Monthly payments are initially interest only. Beginning November 1, 2016, monthly payments will also include principal amortization payments of $32,000 per month with the remaining principal balance and all accrued and unpaid interest and fees due at maturity. The Company has the right to prepay the loan in whole at any time or in part from time to time, subject to the payment of certain expenses potentially incurred by the lender as a result of the prepayment and subject to certain other conditions contained in the loan documents.

KBS SOR Properties provided a limited guaranty of the 50 Congress Mortgage Loan with respect to certain potential deficiencies, losses or damages suffered by the lender resulting from certain intentional acts committed by the borrower or KBS SOR Properties in violation of the loan documents. KBS SOR Properties also provided a guaranty of the principal balance and any interest or other sums outstanding under the 50 Congress Mortgage Loan in the event of certain bankruptcy or insolvency proceedings involving the borrower.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2013
Fair Value Disclosures [Abstract]	'
FAIR VALUE DISCLOSURES	'
	FAIR VALUE DISCLOSURES
	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories:

	•	Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;

	•	Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations in which significant inputs and significant value drivers are observable in active markets; and

	•	Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable.
	The fair value for certain financial instruments is derived using 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 financial instruments for which it is practicable to estimate the fair value:
	Cash and cash equivalents, 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: The Company’s real estate loans receivable 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 are estimated using an internal valuation model that considers 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.
	Real estate securities: These investments are classified as available-for-sale and are presented at fair value. The Company obtained the fair value of its CMBS investments, which are not traded in active markets, from its investment custodian which uses quoted market prices for identical or comparable instruments, rather than direct observations of quoted prices in active markets. Fair value obtained from this professional pricing source can also be based on pricing models whereby all significant observable inputs, including maturity dates, issue dates, settlement dates benchmark yields, reported trades, broker-dealer quotes, issue spreads, benchmark securities, bids, offers or other market related data, are observable or can be derived from or corroborated by observable market data for substantially the full term of the asset. The Company validates the fair values provided by its investment custodian by comparing the fair values against quoted market prices provided by various pricing services. The Company classifies these inputs as Level 2 inputs.
	Notes and bond payable: The fair values of the Company’s notes and bond 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 liabilities 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 or 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 financial instruments as of September 30, 2013 and December 31, 2012, which carrying amounts do not approximate the fair values (in thousands):


			30-Sep-13									31-Dec-12
			Face Value			Carrying Amount			Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loans receivable		$	22,000		$	21,787		$	21,892		$	92,334	$	71,906	$	70,750

	Financial liabilities:
	Notes and bond payable		$	202,080		$	203,680		$	205,173		$	33,751	$	33,751	$	35,928

	Disclosure of the fair value of financial instruments is based on pertinent information available to the Company as of the period end and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has 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 and Liabilities Recorded at Fair Value
	During the nine months ended September 30, 2013, the Company measured the following assets and liabilities at fair value (in thousands):


					Fair Value Measurements Using
		Total			Quoted Prices in			Significant Other			Significant
					Active Markets for			Observable Inputs			Unobservable
					Identical Assets			(Level 2)			Inputs
					(Level 1)						(Level 3)
	Recurring Basis:
	CMBS	$	1,531		$	—		$	1,531		$	—

	Nonrecurring Basis (1):
	1180 Raymond - foreclosed real estate	$	50,760		$	—		$	—		$	50,760

	Bond payable assumed in connection with	$	(8,780	)	$	—		$	—		$	(8,780	)
	1180 Raymond foreclosure
	_____________________
	(1) Amounts reflect the fair values of the assets and liabilities at the time each event occurred.
	The Company estimated the fair value of 1180 Raymond by performing a direct capitalization analysis. The estimated capitalization rate used to estimate the fair value of 1180 Raymond was 6.5%. The fair value of 1180 Raymond includes a tax abatement asset of $4.8 million. The fair value of the tax abatement asset was based on a discounted cash flow analysis and the discount rate applied to the future estimated real estate tax abatements was 9.0%. The Company estimated the fair value of the bond payable assumed in connection with the 1180 Raymond foreclosure by performing a discounted cash flow analysis and the discount rate applied to future estimated debt payments was 4.25%.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
RELATED PARTY TRANSACTIONS	'
	RELATED PARTY TRANSACTIONS
	The Advisory Agreement entitles the Advisor and the Dealer Manager Agreement previously entitled the Dealer Manager to specified fees upon the provision of certain services with regard to the Offering, the investment of funds in real estate and real estate-related investments, and the disposition of real estate and real estate-related investments (including the discounted payoff of non-performing loans) among other services, as well as reimbursement of organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company and certain costs incurred by the Advisor in providing services to the Company. The Company 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 Depository Trust & Clearing Corporation Alternative Investment Product Platform with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor and Dealer Manager also serve as the advisor and dealer manager, respectively, for KBS Real Estate Investment Trust, Inc. (“KBS REIT I”), KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc., KBS Legacy Partners Apartment REIT, Inc. and a private program. During the three and nine months ended September 30, 2013 and 2012, no transactions occurred between the Company and these other KBS-sponsored programs, except that on May 18, 2012, the Company entered into a joint venture in which KBS REIT I owns a participation interest. However, KBS REIT I does not have any equity interest in the joint venture. None of the other joint venture partners are affiliated with the Company or the Advisor.
	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2013 and 2012, respectively, and any related amounts payable as of September 30, 2013 and December 31, 2012 (in thousands):


		Incurred								Payable as of
		Three Months Ended September 30,				Nine Months Ended September 30,				September 30,		December 31,
		2013		2012		2013		2012		2013		2012
	Expensed
	Asset management fees (1)	$	1,235	$	460	$	2,965	$	1,099	$	—	$	—

	Real estate acquisition fees	857		960		2,469		1,040		—		—

	Reimbursable operating expenses (2)	44		34		102		70		—		21

	Disposition fees (3)	—		—		77		21		—		—


	Additional Paid-in Capital
	Selling commissions	—		4,843		—		10,717		—		—

	Dealer manager fees	—		2,420		—		5,313		—		—

	Reimbursable other offering costs	—		404		—		1,210		—		—


	Capitalized
	Acquisition and origination fees on real estate loans receivable	—		438		220		790		—		—

		$	2,136	$	9,559	$	5,833	$	20,260	$	—	$	21

	_____________________
	(1) Amounts include asset management fees from discontinued operations.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. 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. These amounts totaled $44,000 and $34,000 for the three months ended September 30, 2013 and 2012, respectively, and $102,000 and $70,000 for the nine months ended September 30, 2013 and 2012, respectively, and were the only employee costs reimbursed under the Advisory Agreement during these periods. The Company will not reimburse 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 or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.

PRO_FORMA_FINANCIAL_INFORMATIO

PRO FORMA FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2013
Business Acquisition, Pro Forma Information [Abstract]	'
PRO FORMA FINANCIAL INFORMATION	'
	PRO FORMA FINANCIAL INFORMATION
	The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company for the three and nine months ended September 30, 2013 and 2012. The Company acquired one office portfolio consisting of three office properties and three separate office properties during the nine months ended September 30, 2013, which were accounted for as business combinations. In addition, the Company acquired one apartment property through foreclosure of its real estate loan receivable. The following unaudited pro forma information for the three and nine months ended September 30, 2013 and 2012 has been prepared to give effect to the acquisitions of the Austin Suburban Portfolio, Westmoor Center and 50 Congress Street as if the acquisitions had occurred on January 1, 2012. This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on this date, nor does it purport to predict the results of operations for future periods (in thousands, except share and per share amounts).


		For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2013		2012			2013		2012
	Revenues	$	23,687	$	10,828		$	59,481	$	30,007

	Depreciation and amortization	$	9,259	$	4,897		$	23,807	$	12,108

	Net income (loss)	$	8,105	$	(3,083	)	$	9,269	$	(5,691	)

	Net income (loss) per common share, basic and diluted	$	0.14	$	(0.05	)	$	0.16	$	(0.11	)

	Weighted-average number of common shares outstanding, basic and diluted	58,294,420		58,294,420			58,294,420		53,187,132

	The unaudited pro forma information for the three and nine months ended September 30, 2013 was adjusted to exclude $0.7 million and $2.8 million, respectively, of acquisition costs incurred in 2013 in connection with the acquisitions of the above properties.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
COMMITMENTS AND CONTINGENCIES	Sep. 30, 2013
Commitments and Contingencies Disclosure [Abstract]	'
COMMITMENTS AND CONTINGENCIES	'
	COMMITMENTS AND CONTINGENCIES
	Economic Dependency
	The Company is dependent on the Advisor for certain services that are essential to the Company, including the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that the Advisor is unable to provide these services, the Company will be required to obtain such services from other sources.
	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 as of September 30, 2013. 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.
	Legal Matters
	From time to time, the Company is a party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings of which the outcome 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 the 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.

EARNINGS_PER_SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
EARNINGS PER SHARE	'
	EARNINGS PER SHARE
	The following table presents the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):


		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Numerator
	Income (loss) from continuing operations	7,332			(3,385		)	2,749			(6,948		)

	Loss from continuing operations attributable to noncontrolling interests	84			132			238			105

	Income (loss) from continuing operations attributable to common stockholders	7,416			(3,253		)	2,987			(6,843		)

	Total (loss) income from discontinued operations	(72		)	(275		)	3,825			(225		)

	Total loss (income) from discontinued operations attributable to noncontrolling interests	—			29			(398		)	77

	Total (loss) income from discontinued operations attributable to common stockholders	(72		)	(246		)	3,427			(148		)

	Net income (loss) attributable to common stockholders	$	7,344		$	(3,499	)	$	6,414		$	(6,991	)


	Denominator
	Weighted-average number of common shares outstanding, basic and diluted	58,330,896			35,958,174			58,265,522			29,732,658


	Basic and diluted income (loss) per common share:
	Continuing operations	$	0.13		$	(0.09	)	$	0.05		$	(0.23	)

	Discontinued operations	—			(0.01		)	0.06			(0.01		)

	Net income (loss) per common share	$	0.13		$	(0.10	)	$	0.11		$	(0.24	)

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	9 Months Ended
SUBSEQUENT EVENTS	Sep. 30, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	The Company evaluates subsequent events up until the date the consolidated financial statements are issued.
	Disposition of Roseville Commerce Center
	On September 10, 2010, the Company, through an indirect wholly owned subsidiary, purchased three separate nonperforming first mortgage loans (collectively, the “Roseville Commerce Center Mortgage Portfolio”) at a discounted purchase price of $5.9 million plus closing costs. The Roseville Commerce Center Mortgage Portfolio was secured by five industrial flex buildings with each building containing approximately 22,500 rentable square feet and four parcels of partially improved land encompassing 6.0 acres. The properties are located at 10556-10612 Industrial Avenue in Roseville, California. On June 27, 2011, the Company foreclosed on the properties securing the Roseville Commerce Center Mortgage Portfolio, and thereby obtained ownership of them.
	In December 2011, the Company received an unsolicited offer to purchase one of the industrial flex buildings and, on January 31, 2012, the Company sold this building that had a net book value of $0.6 million for $1.3 million. The purchaser is not affiliated with the Company or the Advisor.
	In February 2012, the Company received an unsolicited offer to purchase the four parcels of partially improved land encompassing 6.0 acres and, on May 24, 2012, the Company sold the four parcels of land with a net book value of $0.7 million for $0.8 million. The purchaser is not affiliated with the Company or the Advisor.
	On October 15, 2013, the Company sold the four remaining industrial flex buildings that had a net book value of $4.0 million for $5.9 million. The purchaser is not affiliated with the Company or the Advisor.
	Disposition of 6151 and 6201 Powers Ferry Landing East Buildings
	On September 24, 2012, the Company, through an indirect wholly owned subsidiary, acquired three office buildings containing a total of 393,502 rentable square feet located on approximately 23 acres of land in Atlanta, Georgia (“Powers Ferry Landing East”) at a contractual purchase price of $17.0 million plus closing costs. On October 31, 2013, the Company sold two of the three office buildings containing 246,475 rentable square feet that had a net book value of $10.4 million for $18.5 million. The purchaser is not affiliated with the Company or the Advisor.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Sep. 30, 2013
Accounting Policies [Abstract]	'
Principles of Consolidation and Basis of Presentation	'
	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the FASB ASC and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and nine months ended September 30, 2013 are not necessarily indicative of the results that may be expected for the year ending December 31, 2013.
	The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries, and joint ventures in which the Company has a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	'
Use of Estimates	The preparation of the consolidated financial statements 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	'
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 the prior period.
Segments	'
Segments	The Company has invested in non-performing loans, opportunistic real estate and other real estate-related assets and it has classified its operations by investment type: real estate-related and real estate. In general, the Company intends to hold its investments in non-performing loans, opportunistic real estate and other real estate-related assets for capital appreciation. Traditional performance metrics of non-performing loans, opportunistic real estate and other real estate-related assets may not be meaningful as these investments are non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views non-performing loans, opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from non-performing loans, opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment.
Per Share Data	'
Per Share Data	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three and nine months ended September 30, 2013 and 2012.

RECENT_ACQUISITIONS_OF_REAL_ES1

RECENT ACQUISITIONS OF REAL ESTATE (Tables)	9 Months Ended
RECENT ACQUISITIONS OF REAL ESTATE (Tables)	Sep. 30, 2013
Business Acquisition [Line Items]	'
Schedule of Business Acquisitions, Properties Acquired	'
	During the nine months ended September 30, 2013, the Company acquired the following properties (in thousands):


										Intangibles
	Property Name	City		State	Acquisition Date	Land		Building and Improvements		Tenant Origination and Absorption Costs		Above-Market Lease Assets		Below-Market			Total
														Lease Liabilities			Purchase
																	Price
	Austin Suburban Portfolio	Austin		TX	3/28/13	$	8,288	$	62,321	$	5,424	$	158	$	(1,410	)	$	74,781
	Austin Suburban Portfolio	Austin		TX	3/28/13	$	8,288	$	62,321	$	5,424	$	158	$	(1,410	)	$	74,781
	Westmoor Center	Westminster		CO	6/12/13	10,058		63,134		10,376		781		(102		)	84,247
	Westmoor Center	Westminster		CO	6/12/13	10,058		63,134		10,376		781		(102		)	84,247
	Central Building	Seattle		WA	7/10/13	7,015		23,749		2,375		824		(3		)	33,960
	Central Building	Seattle		WA	7/10/13	7,015		23,749		2,375		824		(3		)	33,960
	50 Congress Street	Boston		MA	7/11/13	9,876		39,604		3,851		107		(2,438		)	51,000
	50 Congress Street	Boston		MA	7/11/13	9,876		39,604		3,851		107		(2,438		)	51,000
						$	35,237	$	188,808	$	22,026	$	1,870	$	(3,953	)	$	243,988
						$	35,237	$	188,808	$	22,026	$	1,870	$	(3,953	)	$	243,988
Schedule of Finite-Lived Intangible Assets and Liabilities Acquired, Weighted-Average Amortization Periods	'
	The intangible assets and liabilities acquired in connection with these acquisitions have weighted-average amortization periods as of the date of acquisition as follows (in years):


		Tenant Origination and		Above-Market	Below-Market
		Absorption Costs		Lease Assets	Lease Liabilities
	Austin Suburban Portfolio	3.5		1.4	2.7
	Westmoor Center	4.1		4.1	4.3
	Central Building	5.7		4.5	1
	50 Congress Street	4.3		3.5	4.7
1180 Raymond [Member]	'
Business Acquisition [Line Items]	'
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	'
	As a result, the Company obtained the rights to the profits and losses of 1180 Raymond; however, the Company is currently working with the City of Newark to formally obtain title to the property. 1180 Raymond was converted from an office building to a multi-family housing property under the City of Newark’s urban redevelopment plan and is subject to certain long term tax exemptions. Among other requirements, the purchaser of 1180 Raymond must be an urban renewal entity qualified to do business under a long term tax exemption law. The Company believes that it meets all of the requirements to obtain title to 1180 Raymond and all that is required for the transfer of title is for the city to complete its review process and approve the transfer. Accordingly, the Company ceased its recognition of an interest in the 1180 Raymond First Mortgage and consolidated 1180 Raymond along with any other assets or liabilities assumed on August 20, 2013, as the Company has obtained a controlling financial interest in the property and also has physical possession of the property. The Company allocated the fair value of 1180 Raymond to the tangible assets and liabilities and identifiable intangible assets and liabilities assumed in the foreclosure as follows (in thousands):


	Land	$	8,292
	Land	$	8,292
	Building and improvements	34,918
	Building and improvements	34,918
	Tenant origination and absorption costs (1)	2,733
	Tenant origination and absorption costs (1)	2,733
	Property tax abatement intangible asset (2)	4,817
	Property tax abatement intangible asset (2)	4,817
	Other assets	2,339
	Other assets	2,339
	Bond payable (3)	(7,140		)
	Premium on bond payable assumed (3)	(1,640		)
	Other liabilities	(891		)
	Net assets acquired through foreclosure	$	43,428
	Net assets acquired through foreclosure	$	43,428
	_____________________
	(1) The tenant origination and absorption costs as of the date of acquisition have a weighted-average amortization period of 0.9 years.
	(2) Pursuant to an agreement with the City of Newark, the developer of 1180 Raymond received a property tax abatement through 2021, which was assumed by the Company upon foreclosure. The property tax abatement intangible asset is amortized on a straight-line basis over its remaining life.
	(3) The Company assumed the obligations related to a municipal bond payable with a face amount of $7.1 million bearing interest at a fixed rate of 6.5% per annum and maturing on September 1, 2036. The Company recorded the bond payable assumed at an estimated fair value of $8.8 million, resulting in a premium on bond payable assumed due to an above-market interest rate of $1.6 million.

REAL_ESTATE_HELD_FOR_INVESTMEN1

REAL ESTATE HELD FOR INVESTMENT (Tables)	9 Months Ended
	Sep. 30, 2013
Real Estate [Abstract]	'
Schedule of Real Estate Investments	'
	The following table summarizes the Company’s real estate investments as of September 30, 2013 and December 31, 2012, respectively (in thousands):


			September 30, 2013				31-Dec-12
	Land		$	136,182			$	91,412

	Buildings and improvements		438,883				204,783

	Tenant origination and absorption costs		45,144				22,609

	Total real estate, cost		620,209				318,804

	Accumulated depreciation and amortization		(24,051		)		(8,180		)
	Total real estate, net		$	596,158			$	310,624

	The following table provides summary information regarding the properties owned by the Company as of September 30, 2013 (in thousands):


	Property		Date		City		State		Property Type		Land			Building			Tenant Origination and Absorption			Total			Accumulated Depreciation and Amortization				Total			Ownership %
			Acquired or Foreclosed on											and Improvements						Real Estate at Cost							Real Estate,
																											Net
	Village Overlook Buildings		8/2/10		Stockbridge		GA		Office		$	440		$	1,557		$	—		$	1,997		$	(224	)		$	1,773		100	%

	Academy Point Atrium I		11/3/10		Colorado Springs		CO		Office		1,650			2,950			—			4,600			(339		)		4,261			100	%

	Northridge Center I & II		3/25/11		Atlanta		GA		Office		2,234			5,835			86			8,155			(689		)		7,466			100	%

	Iron Point Business Park		6/21/11		Folsom		CA		Office		2,670			18,530			191			21,391			(1,541		)		19,850			100	%

	1635 N. Cahuenga Building		8/3/11		Los Angeles		CA		Office		3,112			4,635			347			8,094			(762		)		7,332			70	%

	Richardson Portfolio:
	Palisades Central I		11/23/11		Richardson		TX		Office		1,037			7,521			1,318			9,876			(1,344		)		8,532			90	%

	Palisades Central II		11/23/11		Richardson		TX		Office		810			16,345			2,050			19,205			(2,581		)		16,624			90	%

	Greenway I		11/23/11		Richardson		TX		Office		561			2,160			—			2,721			(161		)		2,560			90	%

	Greenway III		11/23/11		Richardson		TX		Office		702			3,780			944			5,426			(843		)		4,583			90	%

	Undeveloped Land		11/23/11		Richardson		TX		Undeveloped Land		5,782			—			—			5,782			—				5,782			90	%

	Total Richardson Portfolio										8,892			29,806			4,312			43,010			(4,929		)		38,081

	Park Highlands		12/30/11		North Las Vegas		NV		Undeveloped Land		24,053			—			—			24,053			—				24,053			50.1	%

	Bellevue Technology Center		7/31/12		Bellevue		WA		Office		25,506			49,518			4,330			79,354			(3,211		)		76,143			100	%

	Powers Ferry Landing East		9/24/12		Atlanta		GA		Office		4,261			11,390			951			16,602			(1,045		)		15,557			100	%

	1800 West Loop		12/4/12		Houston		TX		Office		8,360			55,195			5,728			69,283			(2,809		)		66,474			100	%

	West Loop I & II		12/7/12		Houston		TX		Office		7,300			27,223			3,639			38,162			(2,109		)		36,053			100	%

	Burbank Collection		12/12/12		Burbank		CA		Retail		4,175			7,725			1,076			12,976			(372		)		12,604			90	%

	Austin Suburban Portfolio		3/28/13		Austin		TX		Office		8,288			62,880			5,283			76,451			(2,501		)		73,950			100	%

	Westmoor Center		6/12/13		Westminster		CO		Office		10,058			63,112			10,247			83,417			(1,899		)		81,518			100	%

	Central Building		7/10/13		Seattle		WA		Office		7,015			23,747			2,370			33,132			(335		)		32,797			100	%

	50 Congress Street		7/11/13		Boston		MA		Office		9,876			39,619			3,851			53,346			(709		)		52,637			100	%

1180 Raymond		8/20/13		Newark		NJ		Apartment		8,292			35,161			2,733			46,186			(577		)		45,609			100	%

										$	136,182		$	438,883		$	45,144		$	620,209		$	(24,051	)		$	596,158

Schedule of Future Minimum Rental Income for Company's Properties	'
	As of September 30, 2013, the future minimum rental income from the Company’s properties, excluding apartment leases, which have terms that are generally one year or less, under non-cancelable operating leases was as follows (in thousands):


	October 1, 2013 through December 31, 2013	$	11,876

	2014	47,776

	2015	45,066

	2016	38,139

	2017	28,959

	Thereafter	51,592

		$	223,408

Schedules of Concentration of Risk, by Risk Factor	'
	As of September 30, 2013, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:


	Industry		Number of		Annualized				Percentage of
			Tenants		Base Rent (1)				Annualized
					(in thousands)				Base Rent
	Professional, Scientific and Legal		48		$	6,751			11.5	%

	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of September 30, 2013, 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_ABSORPT1

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	'
	As of September 30, 2013 and December 31, 2012, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):


		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		September 30,			December 31,			September 30,			December 31,			September 30,			December 31,
		2013			2012			2013			2012			2013			2012
	Cost	$	45,144		$	22,609		$	4,483		$	3,474		$	(6,021	)	$	(2,157	)

	Accumulated Amortization	(8,467		)	(3,164		)	(1,328		)	(991		)	1,091			126

	Net Amount	$	36,677		$	19,445		$	3,155		$	2,483		$	(4,930	)	$	(2,031	)

Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	'
	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2013 and 2012 were as follows (in thousands):


		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Three Months Ended September 30,						For the Three Months Ended September 30,						For the Three Months Ended September 30,
		2013			2012			2013			2012			2013			2012
	Amortization	$	(3,648	)	$	(1,254	)	$	(374	)	$	(296	)	$	523		$	112



		Tenant Origination and						Above-Market						Below-Market
		Absorption Costs						Lease Assets						Lease Liabilities
		For the Nine Months Ended						For the Nine Months Ended						For the Nine Months Ended
		September 30,						September 30,						September 30,
		2013			2012			2013			2012			2013			2012
	Amortization	$	(7,527	)	$	(2,780	)	$	(1,199	)	$	(851	)	$	1,055		$	179

REAL_ESTATE_LOANS_RECEIVABLE_T

REAL ESTATE LOANS RECEIVABLE (Tables)	9 Months Ended
REAL ESTATE LOANS RECEIVABLE (Tables)	Sep. 30, 2013
Receivables [Abstract]	'
Schedule of Real Estate Loans Receivable	'
	As of September 30, 2013 and December 31, 2012, the Company, through wholly owned subsidiaries, had invested in or originated outstanding real estate loans receivable as set forth below (in thousands):


	Loan Name		Date Acquired/ Originated		Property Type	Loan Type		Outstanding Principal Balance as of September 30, 2013 (1)		Book Value		Book Value as of December 31, 2012 (2)		Contractual Interest Rate (3)	Annualized Effective Interest Rate (3)	Maturity Date
	Location of Related Property or									as of September 30, 2013 (2)
	Collateral
	University House First Mortgage
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000	$	21,787	$	—	11.00%	13.00%	4/1/14
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000	$	21,787	$	—	11.00%	13.00%	4/1/14
	1180 Raymond First Mortgage (4)
	Newark, New Jersey		3/14/12		Multifamily	Non-Performing Mortgage		—		—		35,678		(4)	(4)	(4)
	Newark, New Jersey		3/14/12		Multifamily	Non-Performing Mortgage		—		—		35,678		(4)	(4)	(4)
	Ponte Palmero First Mortgage (5)
	Cameron Park, California		9/13/12		Retirement Community	Mortgage		—		—		36,228		(5)	(5)	(5)
	Cameron Park, California		9/13/12		Retirement Community	Mortgage		—		—		36,228		(5)	(5)	(5)
								$	22,000	$	21,787	$	71,906
								$	22,000	$	21,787	$	71,906
	_____________________
	(1) Outstanding principal balance as of September 30, 2013 represents original principal balance outstanding under the loan, increased for any subsequent fundings, including interest income deferred until maturity.
	(2) Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.
	(3) Contractual interest rates are the stated interest rates on the face of the loans. Annualized effective interest rates are calculated as the actual interest income recognized in 2013, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rates and contractual interest rates presented are as of September 30, 2013.
	(4) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure”.
	(5) See “Recent Transactions - Ponte Palmero First Mortgage” below.
Schedule of Activity Related to Real Estate Loans Receivable	'
	The following summarizes the activity related to the real estate loans receivable for the nine months ended September 30, 2013 (in thousands):


	Real estate loans receivable - December 31, 2012	$	71,906
	Real estate loans receivable - December 31, 2012	$	71,906
	Face value of real estate loan receivable originated	22,000
	Face value of real estate loan receivable originated	22,000
	Early payoff of Ponte Palmero First Mortgage	(39,144		)
	Foreclosure of 1180 Raymond First Mortgage	(35,672		)
	Closing costs and origination fees on origination of real estate loan receivable	(432		)
	Deferred interest receivable and interest accretion	2,393
	Deferred interest receivable and interest accretion	2,393
	Accretion of closing costs and origination fees on real estate loans receivable, net	736
		736
	Real estate loans receivable - September 30, 2013	$	21,787
	Real estate loans receivable - September 30, 2013	$	21,787
Schedule of Interest Income from Real Estate Loans Receivable	'
	For the three and nine months ended September 30, 2013, interest income from real estate loans receivable consisted of the following (in thousands):


			Three Months Ended			Nine Months Ended
			September 30, 2013			September 30, 2013
	Contractual interest income (including deferred interest)		$	4,960		$	7,630
	Contractual interest income (including deferred interest)		$	4,960		$	7,630
	Interest accretion		328			1,186
	Interest accretion		328			1,186
	Accretion of closing costs and origination fees, net		538			736
	Accretion of closing costs and origination fees, net		538			736
	Interest income from real estate loans receivable		$	5,826		$	9,552
	Interest income from real estate loans receivable		$	5,826		$	9,552

REAL_ESTATE_SECURITIES_Tables

REAL ESTATE SECURITIES (Tables)	9 Months Ended
	Sep. 30, 2013
Real Estate Securities [Abstract]	'
Schedule of Investments in CMBS	'
	As of September 30, 2013, the Company had invested in CMBS as follows (dollars in thousands):


	Description		Credit Rating		Scheduled Maturity		Coupon Rate		Face Amount				Amortized Cost Basis		Unrealized Gains (Losses)			Fair Value
	CMBS		AAA		5/10/43		4.54%		$	1,522			$	1,536	$	(5	)	$	1,531

Schedule of Activity of Real Estate Securities	'
	The following summarizes the activity related to real estate securities for the nine months ended September 30, 2013 (in thousands):


		Amortized Cost Basis				Unrealized				Total
						Gain (Loss)
	Real estate securities - December 31, 2012	$	4,830			$	(13	)		$	4,817

	Principal repayments received on real estate securities	(3,263		)		—				(3,263		)

	Unrealized gains	—				8				8

	Amortization of premium on securities	(31		)		—				(31		)

	Real estate securities - September 30, 2013	$	1,536			$	(5	)		$	1,531

REAL_ESTATE_HELD_FOR_SALE_AND_1

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)	9 Months Ended
	Sep. 30, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of Operating Income from Discontinued Operations	'
	The following table summarizes operating income from discontinued operations for the three and nine months ended September 30, 2013 and 2012 (in thousands):


		Three Months Ended						Nine Months Ended September 30,
		September 30,
		2013			2012			2013			2012
	Total revenues and other income	$	64		$	149		$	351		$	445

	Total expenses	136			422			751			1,263

	Loss from discontinued operations before gain on sales of real estate	(72		)	(273		)	(400		)	(818		)
	(Loss) gain on sales of real estate, net	—			(2		)	4,225			593

	(Loss) income from discontinued operations	$	(72	)	$	(275	)	$	3,825		$	(225	)

NOTES_AND_BOND_PAYABLE_Tables

NOTES AND BOND PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2013
Notes and Bonds Payable [Abstract]	'
Schedule of Long-term Debt Instruments	'
	As of September 30, 2013 and December 31, 2012, the Company’s notes and bond payable consisted of the following (dollars in thousands):


		Principal as of		Principal as of December 31, 2012		Contractual Interest Rate as of September 30, 2013 (1)	Effective Interest Rate at September 30, 2013 (1)	Payment Type	Maturity
		30-Sep-13							Date (2)
	Richardson Portfolio Mortgage Loan (3)	$	30,457	$	33,751	(3)	6.25%	Interest Only	11/30/15

	Bellevue Technology Center Mortgage Loan (4)	44,450		—		One-Month LIBOR + 2.25%	2.43%	Interest Only	3/1/17

	Portfolio Revolving Loan Facility (5)	—		—		One-Month LIBOR + 2.25%	N/A	Interest Only	5/1/17

	Portfolio Mortgage Loan (6)	80,668		—		One-Month LIBOR + 2.50%	2.68%	Interest Only	7/1/17

	1635 N. Cahuenga Mortgage Loan (7)	4,650		—		One-Month LIBOR + 2.35%	2.53%	Interest Only	8/1/16

	Burbank Collection Mortgage Loan (8)	8,200		—		One-Month LIBOR + 2.35%	2.53%	Interest Only	9/30/16

	50 Congress Mortgage Loan (9)	26,535		—		One-Month LIBOR + 1.90%	2.08%	Interest Only	10/1/17

	1180 Raymond Bond (10)	7,120		—		6.50%	6.50%	Principal	9/1/36
								& Interest
	Total Notes and Bond Payable principal outstanding	202,080		33,751

	Premium on Bond Payable, net (11)	1,600		—

	Total Notes and Bond Payable, net	203,680		33,751

	_____________________
	(1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2013. Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at September 30, 2013, where applicable.
	(2) Represents the initial maturity date or the maturity date as extended as of September 30, 2013; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown.
	(3) On November 23, 2011, the Richardson Joint Venture entered into a four-year mortgage loan for borrowings up to $46.1 million. At closing, $29.5 million (the “Initial Funding”) had been disbursed to the Richardson Joint Venture and $16.6 million (the “Holdback”) remained available for future disbursements, subject to certain conditions set forth in the loan agreement. On January 11, 2013, the Company sold one of the properties in the Richardson Portfolio and repaid $5.2 million of the Initial Funding. As of September 30, 2013, the outstanding principal balance was $30.5 million and $9.4 million of the Holdback remains available for future disbursements, subject to certain conditions set forth in the loan agreement. Interest on the Initial Funding is calculated at a fixed rate of 6.25% during the initial term of the loan. Interest on the Holdback is calculated at a variable annual rate of 400 basis points over three-month LIBOR, but at no point shall the interest rate be less than 6.25%.
	(4) On February 22, 2013, the Company entered into a four-year mortgage loan for borrowings up to $53.0 million. As of September 30, 2013, $44.5 million had been disbursed to the Company and the remaining $8.5 million is available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain conditions contained in the loan documents. Monthly payments are initially interest only. Beginning March 1, 2016, monthly payments also include principal amortization payments of up to $60,000 per month.
	(5) On May 1, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $72.5 million secured by the 1800 West Loop Building and the Iron Point Business Park (the “Portfolio Revolving Loan Facility”). The Portfolio Revolving Loan Facility is comprised of $59.5 million of revolving debt and $13.0 million of non-revolving debt available to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of September 30, 2013, the Company had no outstanding principal amount. Monthly payments are initially interest only. Beginning June 1, 2016, and to the extent that there are amounts outstanding under the non-revolving portion of the loan, monthly payments will include interest and principal amortization payments of up to $80,000 per month.
	(6) On June 26, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $120.0 million secured by Northridge Center I & II, Powers Ferry Landing East, West Loop I & II and the Austin Suburban Portfolio (the “Portfolio Mortgage Loan”). As of September 30, 2013, $80.7 million had been disbursed to the Company with the remaining $39.3 million available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. Monthly payments are initially interest only. Beginning July 1, 2016, monthly payments will include principal and interest with principal payments calculated using an amortization schedule of 30 years and an assumed annual interest rate of 6.0%.
	(7) See “- Recent Transactions - 1635 N. Cahuenga Mortgage Loan” below.
	(8) See “- Recent Transactions - Burbank Collection Mortgage Loan” below.
	(9) See “- Recent Transactions - 50 Congress Mortgage Loan” below.
	(10) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure.”
	(11) Represents the unamortized premium on bond payable due to the above-market interest rates when the bond was assumed. The premium is amortized over the remaining life of the bond.
Schedule of Maturities of Long-term Debt	'
	ly.
	The following is a schedule of maturities, including principal amortization payments, for all notes and bond payable outstanding as of September 30, 2013 (in thousands):


	October 1, 2013 through December 31, 2013	$	35

	2014	140

	2015	30,642

	2016	13,639

	2017	151,164

	Thereafter	6,460

		$	202,080

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2013
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 financial instruments as of September 30, 2013 and December 31, 2012, which carrying amounts do not approximate the fair values (in thousands):


			30-Sep-13									31-Dec-12
			Face Value			Carrying Amount			Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loans receivable		$	22,000		$	21,787		$	21,892		$	92,334	$	71,906	$	70,750

	Financial liabilities:
	Notes and bond payable		$	202,080		$	203,680		$	205,173		$	33,751	$	33,751	$	35,928

Schedule of Assets and Liabilities at Fair Value	'
	During the nine months ended September 30, 2013, the Company measured the following assets and liabilities at fair value (in thousands):


					Fair Value Measurements Using
		Total			Quoted Prices in			Significant Other			Significant
					Active Markets for			Observable Inputs			Unobservable
					Identical Assets			(Level 2)			Inputs
					(Level 1)						(Level 3)
	Recurring Basis:
	CMBS	$	1,531		$	—		$	1,531		$	—

	Nonrecurring Basis (1):
	1180 Raymond - foreclosed real estate	$	50,760		$	—		$	—		$	50,760

	Bond payable assumed in connection with	$	(8,780	)	$	—		$	—		$	(8,780	)
	1180 Raymond foreclosure

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2013
Related Party Transactions [Abstract]	'
Schedule of Related Party Costs	'
	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2013 and 2012, respectively, and any related amounts payable as of September 30, 2013 and December 31, 2012 (in thousands):


		Incurred								Payable as of
		Three Months Ended September 30,				Nine Months Ended September 30,				September 30,		December 31,
		2013		2012		2013		2012		2013		2012
	Expensed
	Asset management fees (1)	$	1,235	$	460	$	2,965	$	1,099	$	—	$	—

	Real estate acquisition fees	857		960		2,469		1,040		—		—

	Reimbursable operating expenses (2)	44		34		102		70		—		21

	Disposition fees (3)	—		—		77		21		—		—


	Additional Paid-in Capital
	Selling commissions	—		4,843		—		10,717		—		—

	Dealer manager fees	—		2,420		—		5,313		—		—

	Reimbursable other offering costs	—		404		—		1,210		—		—


	Capitalized
	Acquisition and origination fees on real estate loans receivable	—		438		220		790		—		—

		$	2,136	$	9,559	$	5,833	$	20,260	$	—	$	21

	_____________________
	(1) Amounts include asset management fees from discontinued operations.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. 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. These amounts totaled $44,000 and $34,000 for the three months ended September 30, 2013 and 2012, respectively, and $102,000 and $70,000 for the nine months ended September 30, 2013 and 2012, respectively, and were the only employee costs reimbursed under the Advisory Agreement during these periods. The Company will not reimburse 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 or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.

PRO_FORMA_FINANCIAL_INFORMATIO1

PRO FORMA FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2013
Business Acquisition, Pro Forma Information [Abstract]	'
Business Acquisition, Pro Forma Information	'
	This pro forma information does not purport to represent what the actual results of operations of the Company would have been had these acquisitions occurred on this date, nor does it purport to predict the results of operations for future periods (in thousands, except share and per share amounts).


		For the Three Months Ended September 30,					For the Nine Months Ended September 30,
		2013		2012			2013		2012
	Revenues	$	23,687	$	10,828		$	59,481	$	30,007

	Depreciation and amortization	$	9,259	$	4,897		$	23,807	$	12,108

	Net income (loss)	$	8,105	$	(3,083	)	$	9,269	$	(5,691	)

	Net income (loss) per common share, basic and diluted	$	0.14	$	(0.05	)	$	0.16	$	(0.11	)

	Weighted-average number of common shares outstanding, basic and diluted	58,294,420		58,294,420			58,294,420		53,187,132

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2013
Earnings Per Share [Abstract]	'
Schedule of Earnings Per Share	'
	The following table presents the computation of basic and diluted earnings per share (in thousands, except share and per share amounts):


		Three Months Ended September 30,						Nine Months Ended September 30,
		2013			2012			2013			2012
	Numerator
	Income (loss) from continuing operations	7,332			(3,385		)	2,749			(6,948		)

	Loss from continuing operations attributable to noncontrolling interests	84			132			238			105

	Income (loss) from continuing operations attributable to common stockholders	7,416			(3,253		)	2,987			(6,843		)

	Total (loss) income from discontinued operations	(72		)	(275		)	3,825			(225		)

	Total loss (income) from discontinued operations attributable to noncontrolling interests	—			29			(398		)	77

	Total (loss) income from discontinued operations attributable to common stockholders	(72		)	(246		)	3,427			(148		)

	Net income (loss) attributable to common stockholders	$	7,344		$	(3,499	)	$	6,414		$	(6,991	)


	Denominator
	Weighted-average number of common shares outstanding, basic and diluted	58,330,896			35,958,174			58,265,522			29,732,658


	Basic and diluted income (loss) per common share:
	Continuing operations	$	0.13		$	(0.09	)	$	0.05		$	(0.23	)

	Discontinued operations	—			(0.01		)	0.06			(0.01		)

	Net income (loss) per common share	$	0.13		$	(0.10	)	$	0.11		$	(0.24	)

ORGANIZATION_Details

ORGANIZATION (Details) (USD $)

9 Months Ended

12 Months Ended

46 Months Ended

9 Months Ended

12 Months Ended

46 Months Ended

9 Months Ended

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Oct. 23, 2012

Dec. 29, 2011

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Jan. 08, 2009

Sep. 30, 2013

Investments

Common Stock [Member]

Minimum [Member]

Maximum [Member]

Office Properties [Member]

Office Campus [Member]

Office Portfolio [Member]

Office Buildings, Portfolio [Member]

Office Property, Portfolio [Member]

Industrial/Flex Property [Member]

Retail Properties [Member]

Apartment Property [Member]

Office Property [Member]

KBS Capital Advisors LLC [Member]

Common Stock [Member]

properties

Portfolios

Austin Suburban Portfolio [Member]

acre

properties

Austin Suburban Portfolio [Member]

acre

Held-for-sale [Member]

properties

Austin Suburban Portfolio [Member]

Portfolios

properties

Portfolios

properties

Organizational Structure [Line Items]

Partnership interest in Operating Partnership

0.10%

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

99.90%

Shares held by affiliate

20,000

Number of real estate properties

Real estate area of undeveloped land

1,375

Number of real estate properties acquired

Number of Investments in Unconsolidated Joint Venture

Number of investments in commercial mortgage-backed securities (CMBS)

Number of first mortgagr loans

Stock offering, shares authorized for issuance

250,000

140,000,000

Shares registered in primary offering

100,000,000

Shares registered for sale under dividend reinvestment plan

40,000,000

Issuance of common stock, shares

246,484

35,993,756

56,584,976

Issuance of common stock, value

$2,340,000

$357,334,000

$561,700,000

$2,000

$360,000

Shares of common stock sold under dividend reinvestment plan, shares

1,575,836

Shares of common stock sold under dividend reinvestment plan, value

15,000,000

Redemptions of common stock, shares

79,691

80,944

162,635

Redemptions of common stock, value

753,000

755,000

1,500,000

1,000

Common stock, shares issued

58,294,420

58,127,627

58,294,420

55,249,000

220,994

Common stock, value, issued

$583,000

$581,000

$583,000

$500,000

$2,000,000

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Accounting Policies [Abstract]	'	'	'	'
Distributions declared per share	$0	$0.35	$0.06	$0.40

RECENT_ACQUISITIONS_OF_REAL_ES2

RECENT ACQUISITIONS OF REAL ESTATE (Narrative) (Details) (USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Business Combinations [Abstract]	'
Business combination and acquisition cost expensed	$3.30
Total revenues recognized from business combination	10.6
Operating expense recognized from business combination	$6.50

RECENT_ACQUISITIONS_OF_REAL_ES3

RECENT ACQUISITIONS OF REAL ESTATE (Schedule of Business Acquisitions, Properties Acquired) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Business Acquisition [Line Items]	'
Land	$35,237
Building and Improvements	188,808
Tenant Origination and Absorption Costs	22,026
Above-Market Lease Assets	1,870
Below-Market Lease Liabilities	-3,953
Total Purchase Price	243,988
Office [Member] \| Austin Suburban Portfolio [Member]	'
Business Acquisition [Line Items]	'
Acquisition Date	28-Mar-13
Land	8,288
Building and Improvements	62,321
Tenant Origination and Absorption Costs	5,424
Above-Market Lease Assets	158
Below-Market Lease Liabilities	-1,410
Total Purchase Price	74,781
Office [Member] \| Westmoor Center [Member]	'
Business Acquisition [Line Items]	'
Acquisition Date	12-Jun-13
Land	10,058
Building and Improvements	63,134
Tenant Origination and Absorption Costs	10,376
Above-Market Lease Assets	781
Below-Market Lease Liabilities	-102
Total Purchase Price	84,247
Office [Member] \| Central Building [Member]	'
Business Acquisition [Line Items]	'
Acquisition Date	10-Jul-13
Land	7,015
Building and Improvements	23,749
Tenant Origination and Absorption Costs	2,375
Above-Market Lease Assets	824
Below-Market Lease Liabilities	-3
Total Purchase Price	33,960
Office [Member] \| 50 Congress Street [Member]	'
Business Acquisition [Line Items]	'
Acquisition Date	11-Jul-13
Land	9,876
Building and Improvements	39,604
Tenant Origination and Absorption Costs	3,851
Above-Market Lease Assets	107
Below-Market Lease Liabilities	-2,438
Total Purchase Price	$51,000

RECENT_ACQUISITIONS_OF_REAL_ES4

RECENT ACQUISITIONS OF REAL ESTATE (Schedule of Finite-Lived Intangible Assets and Liabilities Acquired, Weighted-Average Amortization Periods) (Details)	9 Months Ended
	Sep. 30, 2013
Tenant Origination and Absorption Costs [Member] \| Austin Suburban Portfolio [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'3 years 6 months
Tenant Origination and Absorption Costs [Member] \| Westmoor Center [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 1 month 6 days
Tenant Origination and Absorption Costs [Member] \| Central Building [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'5 years 8 months 12 days
Tenant Origination and Absorption Costs [Member] \| 50 Congress Street [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 3 months 18 days
Above-Market Lease Assets [Member] \| Austin Suburban Portfolio [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'1 year 4 months 24 days
Above-Market Lease Assets [Member] \| Westmoor Center [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 1 month 6 days
Above-Market Lease Assets [Member] \| Central Building [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 6 months
Above-Market Lease Assets [Member] \| 50 Congress Street [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'3 years 6 months
Below-Market Lease Liabilities [Member] \| Austin Suburban Portfolio [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'2 years 8 months 12 days
Below-Market Lease Liabilities [Member] \| Westmoor Center [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 3 months 18 days
Below-Market Lease Liabilities [Member] \| Central Building [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'1 year
Below-Market Lease Liabilities [Member] \| 50 Congress Street [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'4 years 8 months 12 days

RECENT_ACQUISITIONS_OF_REAL_ES5

RECENT ACQUISITIONS OF REAL ESTATE RECENT ACQUISITIONS OF REAL ESTATE (Real Estate Acquired Through Foreclosure) (Details) (USD $)	Sep. 30, 2013		Dec. 31, 2012		Aug. 20, 2013		Aug. 20, 2013	Mar. 14, 2012	Mar. 14, 2012
					1180 Raymond [Member]		1180 Raymond [Member]	1180 Raymond [Member]	1180 Raymond [Member]
							Tenant Origination and Absorption Costs [Member]	Multifamily Tower [Member]	Nonperforming Financing Receivable [Member]
								Apartment Property [Member]
								Units
Business Acquisition [Line Items]	'		'		'		'	'	'
Real estate loans receivable, net	$21,787,000	[1]	$71,906,000	[1]	'		'	'	$35,000,000
Mortgage loans on real estate, face value	22,000,000		92,334,000		'		'	'	'
Number of units in real estate property	'		'		'		'	317	'
Land	35,237,000		'		8,292,000		'	'	'
Buildings and improvements	'		'		34,918,000		'	'	'
Tenant origination and absorption costs	'		'		2,733,000	[2]	'	'	'
Property tax abatement intangible asset	'		'		4,817,000	[3]	'	'	'
Other assets	'		'		2,339,000		'	'	'
Bond payable	'		'		-7,140,000	[4]	'	'	'
Premium on bond payable assumed	'		'		-1,640,000	[4]	'	'	'
Other liabilities	'		'		-891,000		'	'	'
Net assets acquired through foreclosure	'		'		43,428,000		'	'	'
Weighted-average amortization period	'		'		'		'10 months 24 days	'	'
Face amount	'		'		7,100,000		'	'	'
Stated percentage	'		'		6.50%		'	'	'
Estimated fair value	'		'		8,800,000		'	'	'
Premium on bonds payable	1,600,000	[5]	'		1,600,000		'	'	'
Gain on foreclosure	'		'		$7,500,000		'	'	'

[1]	Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.
[2]	The tenant origination and absorption costs as of the date of acquisition have a weighted-average amortization period of 0.9 years.
[3]	Pursuant to an agreement with the City of Newark, the developer of 1180 Raymond received a property tax abatement through 2021, which was assumed by the Company upon foreclosure. The property tax abatement intangible asset is amortized on a straight-line basis over its remaining life.
[4]	Contractual interest rates are the stated interest rates on the face of the loans. Annualized effective interest rates are calculated as the actual interest income recognized in 2013, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rates and contractual interest rates presented are as of SeptemberB 30, 2013.
[5]	Represents the unamortized premium on bond payable due to the above-market interest rates when the bond was assumed. The premium is amortized over the remaining life of the bond.

REAL_ESTATE_HELD_FOR_INVESTMEN2

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details)

Sep. 30, 2013

Mar. 14, 2012

sqft

Office Properties [Member]

Office Campus [Member]

Office Portfolio [Member]

Office Buildings, Portfolio [Member]

Office Property, Portfolio [Member]

Industrial/Flex Property [Member]

Retail Properties [Member]

Apartment Property [Member]

properties

Portfolios

Austin Suburban Portfolio [Member]

acre

properties

Austin Suburban Portfolio [Member]

acre

properties

1180 Raymond [Member]

Portfolios

properties

sqft

Multifamily Tower [Member]

Units

Real Estate Properties [Line Items]

Number of real estate properties

Number of real estate properties acquired

Real estate area of undeveloped land

1,375

Rentable square feet

4,100,000

300,000

Percentage of portfolio occupied

69.00%

72.00%

Number of units in real estate property

317

REAL_ESTATE_HELD_FOR_INVESTMEN3

REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

In Thousands, unless otherwise specified

Village Overlook Buildings [Member]

Academy Point Atrium I [Member]

Northridge Center I & II [Member]

Iron Point Business Park [Member]

1635 N. Cahuenga Building [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Richardson Portfolio [Member]

Park Highlands [Member]

Bellevue Technology Center [Member]

Powers Ferry Landing East [Member]

1800 West Loop [Member]

West Loop I and II [Member]

Burbank Collection [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Land [Member]

Buildings and Improvements [Member]

Tenant Origination and Absorption Costs [Member]

Village Overlook Buildings [Member]

Academy Point Atrium I [Member]

Northridge Center I & II [Member]

Iron Point Business Park [Member]

1635 N. Cahuenga Building [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Richardson Portfolio [Member]

Park Highlands [Member]

Bellevue Technology Center [Member]

Powers Ferry Landing East [Member]

1800 West Loop [Member]

West Loop I and II [Member]

Burbank Collection [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Village Overlook Buildings [Member]

Academy Point Atrium I [Member]

Northridge Center I & II [Member]

Iron Point Business Park [Member]

1635 N. Cahuenga Building [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Richardson Portfolio [Member]

Park Highlands [Member]

Bellevue Technology Center [Member]

Powers Ferry Landing East [Member]

1800 West Loop [Member]

West Loop I and II [Member]

Burbank Collection [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Village Overlook Buildings [Member]

Academy Point Atrium I [Member]

Northridge Center I & II [Member]

Iron Point Business Park [Member]

1635 N. Cahuenga Building [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Richardson Portfolio [Member]

Park Highlands [Member]

Bellevue Technology Center [Member]

Powers Ferry Landing East [Member]

1800 West Loop [Member]

West Loop I and II [Member]

Burbank Collection [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Real Estate Properties [Line Items]

Date Acquired or Foreclosed on

2-Aug-10

3-Nov-10

25-Mar-11

21-Jun-11

3-Aug-11

23-Nov-11

30-Dec-11

31-Jul-12

24-Sep-12

4-Dec-12

7-Dec-12

12-Dec-12

28-Mar-13

12-Jun-13

10-Jul-13

11-Jul-13

20-Aug-13

Total real estate, cost

$620,209

$318,804

$1,997

$4,600

$8,155

$21,391

$8,094

$9,876

$19,205

$2,721

$5,426

$5,782

$43,010

$24,053

$79,354

$16,602

$69,283

$38,162

$12,976

$76,451

$83,417

$33,132

$53,346

$46,186

$136,182

$91,412

$440

$1,650

$2,234

$2,670

$3,112

$1,037

$810

$561

$702

$5,782

$8,892

$24,053

$25,506

$4,261

$8,360

$7,300

$4,175

$8,288

$10,058

$7,015

$9,876

$8,292

$438,883

$204,783

$1,557

$2,950

$5,835

$18,530

$4,635

$7,521

$16,345

$2,160

$3,780

$29,806

$49,518

$11,390

$55,195

$27,223

$7,725

$62,880

$63,112

$23,747

$39,619

$35,161

$45,144

$22,609

$86

$191

$347

$1,318

$2,050

$944

$4,312

$4,330

$951

$5,728

$3,639

$1,076

$5,283

$10,247

$2,370

$3,851

$2,733

Accumulated depreciation and amortization

-24,051

-8,180

-224

-339

-689

-1,541

-762

-1,344

-2,581

-161

-843

-4,929

-3,211

-1,045

-2,809

-2,109

-372

-2,501

-1,899

-335

-709

-577

Total real estate, net

$596,158

$310,624

$1,773

$4,261

$7,466

$19,850

$7,332

$8,532

$16,624

$2,560

$4,583

$5,782

$38,081

$24,053

$76,143

$15,557

$66,474

$36,053

$12,604

$73,950

$81,518

$32,797

$52,637

$45,609

Subsidiary or Equity Method Investee, Cumulative Percentage Ownership after All Transactions

100.00%

70.00%

90.00%

50.10%

100.00%

90.00%

100.00%

REAL_ESTATE_HELD_FOR_INVESTMEN4

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Operating Leased Assets [Line Items]	'	'	'
Deferred rent recognized	$3,355,000	$1,215,000	'
Deferred rent receivables	6,300,000	'	2,300,000
Maximum [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'11 years 9 months 18 days	'	'
Weighted Average [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'3 years 7 months 6 days	'	'
Other Liabilities [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Security deposit liability	$3,500,000	'	$1,400,000
Apartment Building [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Operating lease, term	'1 year	'	'

REAL_ESTATE_HELD_FOR_INVESTMEN5

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Real Estate [Abstract]	'
October 1, 2013 through December 31, 2013	$11,876
2014	47,776
2015	45,066
2016	38,139
2017	28,959
Thereafter	51,592
Future minimum rental income	$223,408

REAL_ESTATE_HELD_FOR_INVESTMEN6

REAL ESTATE HELD FOR INVESTMENT (Highest Tenant Industry Concentrations- Greater than 10% of Annual Base Rent) (Details) (Industry - Professional, Scientific and Legal [Member], USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
	Tenants
Industry - Professional, Scientific and Legal [Member]	'
Concentration Risk [Line Items]	'
Number of Tenants	48
Annualized Base Rent	$6,751	[1]
Percentage of Annualized Base Rent	11.50%

[1]	Annualized base rent represents annualized contractual base rental income as of SeptemberB 30, 2013, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the leasebs inception through the balance of the lease term.

REAL_ESTATE_HELD_FOR_INVESTMEN7

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details) (Assets, Total [Member])	9 Months Ended
	Sep. 30, 2013
Texas [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	29.60%
Washington [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	15.00%
Colorado [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	11.80%

TENANT_ORIGINATION_AND_ABSORPT2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]	'	'	'	'	'
Tenant Origination And Absorption Costs, Cost	$45,144	'	$45,144	'	$22,609
Tenant Origination and Absorption Costs, Accumulated Amortization	-8,467	'	-8,467	'	-3,164
Tenant Origination and Absorption Costs, Net Amount	36,677	'	36,677	'	19,445
Tenant Origination and Absorption Costs, Amortization expense	-3,648	-1,254	-7,527	-2,780	'
Above-Market Lease Assets, Cost	4,483	'	4,483	'	3,474
Above-Market Lease Assets, Accumulated Amortization	-1,328	'	-1,328	'	-991
Above-Market Lease Assets, Net Amount	3,155	'	3,155	'	2,483
Above-Market Lease Assets, Amortization expense	-374	-296	-1,199	-851	'
Below-Market Lease Liabilities, Cost	-6,021	'	-6,021	'	-2,157
Below-Market Lease Liabilities, Accumulated Amortization	1,091	'	1,091	'	126
Below-Market Lease Liabilities, Net Amount	-4,930	'	-4,930	'	-2,031
Below-Market Lease Liabilities, Amortization expense	$523	$112	$1,055	$179	'

REAL_ESTATE_LOANS_RECEIVABLE_S

REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Dec. 31, 2012
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Outstanding Principal Balance	$22,000	[1]	'
Book Value	21,787	[2]	71,906	[2]
Nonperforming Financing Receivable [Member] \| 1180 Raymond First Mortgage [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired	14-Mar-12	[3]	'
Outstanding Principal Balance	0	[1],[3]	'
Book Value	0	[2],[3]	35,678	[2],[3]
Mortgages [Member] \| Ponte Palmero First Mortgage [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired	13-Sep-12	[4]	'
Outstanding Principal Balance	0	[1],[4]	'
Book Value	0	[2],[4]	36,228	[2],[4]
Mortgages [Member] \| University House First Mortgage [Member]	'		'
Accounts, Notes, Loans and Financing Receivable [Line Items]	'		'
Date Acquired	20-Mar-13		'
Outstanding Principal Balance	22,000	[1]	'
Book Value	$21,787	[2]	$0	[2]
Contractual Interest Rate	11.00%	[5]	'
Annualized Effective Interest Rate	13.00%	[5]	'
Maturity Date	1-Apr-14		'

[1]	Outstanding principal balance as of SeptemberB 30, 2013 represents original principal balance outstanding under the loan, increased for any subsequent fundings, including interest income deferred until maturity.
[2]	Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.
[3]	See Note 3 bRecent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosureb.
[4]	See bRecent Transactions - Ponte Palmero First Mortgageb below.
[5]	Contractual interest rates are the stated interest rates on the face of the loans. Annualized effective interest rates are calculated as the actual interest income recognized in 2013, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rates and contractual interest rates presented are as of SeptemberB 30, 2013.

REAL_ESTATE_LOANS_RECEIVABLE_S1

REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013
Real Estate Loans Receivable [Roll Forward]	'
Real estate loans receivable - December 31, 2012	$71,906	[1]
Face value of real estate loan receivable originated	22,000
Early payoff of Ponte Palmero First Mortgage	-39,144
Foreclosure of 1180 Raymond First Mortgage	-35,672
Closing costs and origination fees on purchase and origination of real estate loans receivable	-432
Deferred interest receivable and interest accretion	2,393
Accretion of closing costs and origination fees on real estate loans receivable, net	736
Real estate loans receivable - September 30, 2013	$21,787	[1]

[1]	Book value of the real estate loans receivable represents outstanding principal balance adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs and additional interest accretion.

REAL_ESTATE_LOANS_RECEIVABLE_S2

REAL ESTATE LOANS RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Receivables [Abstract]	'	'	'	'
Contractual interest income (including deferred interest)	$4,960	'	$7,630	'
Interest accretion	328	'	1,186	'
Accretion of closing costs and origination fees, net	538	'	736	'
Interest income from real estate loans receivable	$5,826	$231	$9,552	$231

REAL_ESTATE_LOANS_RECEIVABLE_R

REAL ESTATE LOANS RECEIVABLE (Recent Transactions) (Details) (USD $)

3 Months Ended

9 Months Ended

0 Months Ended

Sep. 30, 2013

Sep. 30, 2012

Sep. 30, 2013

Sep. 30, 2012

Dec. 31, 2012

Aug. 30, 2013

Sep. 13, 2012

Ponte Palmero First Mortgage [Member]

Mortgages [Member]

First Twelve Months [Member]

13th Through 24th Month [Member]

25th Through 36th Month [Member]

Minimum [Member]

Mortgage Loans on Real Estate [Line Items]

Mortgage loans on real estate, face value

$22,000,000

$92,334,000

$35,800,000

Basis spread on variable rate

10.00%

12.00%

17.00%

Description of variable rate basis

'one-month LIBOR

Variable rate floor

11.00%

13.00%

18.00%

Proceeds from early retirement of debt

37,700,000

Anticipated prepayment fee

4,000,000

Interest income from investments

$5,826,000

$231,000

$9,552,000

$231,000

$1,300,000

REAL_ESTATE_SECURITIES_Narrati

REAL ESTATE SECURITIES (Narrative) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'
Fixed rate CMBS	$1,531	$4,817
Unrealized gains	8	'
Available-for-sale Securities [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Other-than-temporary impairment	$0	'

REAL_ESTATE_SECURITIES_Schedul

REAL ESTATE SECURITIES (Schedule of Investments in CMBS) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'
Unrealized Gains (Losses)	($5)	($13)
Fair Value	1,531	4,817
Commercial Mortgage Backed Securities 2 [Member] \| Standard & Poor's, AAA Rating [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Coupon Rate	4.54%	'
Face Amount	1,522	'
Amortized Cost Basis	1,536	'
Unrealized Gains (Losses)	-5	'
Fair Value	$1,531	'

REAL_ESTATE_SECURITIES_Schedul1

REAL ESTATE SECURITIES (Schedule of Activity of Real Estate Securities) (Details) (USD $)	9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012
Available-for-sale Securities [Roll Forward]	'	'
Real estate securities, Amortized Cost Basis	$4,830	'
Real estate securities, Unrealized Gain (Loss)	-13	'
Real estate securities, Beginning Balance	4,817	'
Principal repayments received on real estate securities	-3,263	-33,892
Unrealized gains, Unrealized Gain (Loss)	8	'
Amortization of premium on securities	-31	-775
Real estate securities, Amortized Cost Basis	1,536	'
Real estate securities, Unrealized Gain (Loss)	-5	'
Real estate securities, Ending Balance	$1,531	'

REAL_ESTATE_HELD_FOR_SALE_AND_2

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Narrative) (Details)	Sep. 30, 2013	Dec. 31, 2012
	properties	properties
Office Building [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of real estate properties disposed	1	1
Industrial/Flex Property [Member] \| Held-for-sale [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of real estate properties	1	'
Four Parcels of Partially Improved Land [Member]	'	'
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Number of real estate properties disposed	'	4
Area of land	'	6

REAL_ESTATE_HELD_FOR_SALE_AND_3

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Discontinued Operations and Disposal Groups [Abstract]	'	'	'	'
Total revenues and other income	$64	$149	$351	$445
Total expenses	136	422	751	1,263
Loss from discontinued operations before gain on sales of real estate	-72	-273	-400	-818
(Loss) gain on sales of real estate, net	0	-2	4,225	593
Total (loss) income from discontinued operations	($72)	($275)	$3,825	($225)

NOTES_AND_BOND_PAYABLE_Narrati

NOTES AND BOND PAYABLE (Narrative) (Details) (USD $)	3 Months Ended		9 Months Ended
NOTES AND BOND PAYABLE (Narrative) (Details) (USD $)	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Notes and Bonds Payable [Abstract]	'	'	'	'	'
Interest expense	$1,765,000	$495,000	$3,458,000	$1,691,000	'
Amortization of deferred financing costs, net of discontinued operations	200,000	100,000	400,000	200,000	'
Deferred finance costs	3,900,000	'	3,900,000	'	700,000
Interest payable	$400,000	'	$400,000	'	$3,000

NOTES_AND_BOND_PAYABLE_Schedul

NOTES AND BOND PAYABLE (Schedule of Long-term Debt Instruments) (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Nov. 23, 2011

Sep. 30, 2013

Nov. 23, 2011

Sep. 30, 2013

Jan. 11, 2013

Sep. 30, 2013

Dec. 31, 2012

Feb. 22, 2013

Sep. 30, 2013

Dec. 31, 2012

Feb. 22, 2013

Sep. 30, 2013

Dec. 31, 2012

1-May-13

Sep. 30, 2013

Dec. 31, 2012

Jun. 26, 2013

Sep. 30, 2013

Jun. 26, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Jul. 24, 2013

Aug. 02, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 10, 2013

Sep. 30, 2013

Dec. 31, 2012

Sep. 30, 2013

Sep. 25, 2013

Sep. 26, 2013

Sep. 30, 2013

Dec. 31, 2012

Mortgages [Member]

Richardson Portfolio [Member]

Bellevue Technology Center [Member]

Portfolio Revolving Loan Facility [Member]

Portfolio Mortgage Loan [Member]

1635 N. Cahuenga Mortgage Loan [Member]

Burbank Collection Mortgage Loan [Member]

50 Congress Mortgage Loan [Member]

1180 Raymond Bond [Member]

Richardson Joint Venture [Member]

Mortgages [Member]

Secured Debt [Member]

Revolving Credit Facility [Member]

Non-Revolving Credit Facility [Member]

Mortgages [Member]

Secured Debt [Member]

Mortgages [Member]

Secured Debt [Member]

Mortgages [Member]

Secured Debt [Member]

Mortgages [Member]

Secured Debt [Member]

Mortgages [Member]

Maximum [Member]

Minimum [Member]

Beginning March 1, 2016 [Member]

Maximum [Member]

Mortgages [Member]

Beginning June 1, 2016 [Member]

Debt Service Coverage Ratio of at Least 1.25 [Member]

Debt Instrument [Line Items]

Notes payable

$46,100,000

$30,457,000

[1]

$33,751,000

[1]

$44,450,000

[2]

$53,000,000

[3]

$80,668,000

[4]

$4,650,000

[5]

$8,200,000

[6]

$26,535,000

[7]

Bonds payable

7,120,000

Total Notes and Bond Payable principal outstanding

202,080,000

33,751,000

Premium on Bond Payable, net

1,600,000

[8]

Total notes and bond payable, net

203,680,000

33,751,000

Basis spread on variable rate

4.00%

[1],[9]

2.25%

[2],[9]

2.25%

[3],[9]

2.25%

2.50%

[4],[9]

2.50%

2.25%

2.35%

[5],[9]

2.35%

1.90%

Description of variable rate basis

'three-month LIBOR

[1],[9]

'one-month LIBOR

[2],[9]

'one-month LIBOR

[3],[9]

'one-month LIBOR

[4],[9]

'one-month LIBOR

[5],[9]

'one-month LIBOR

Contractual interest rate, percentage

6.25%

6.50%

Interest rate, effective percentage

6.25%

[1],[9]

2.43%

[2],[9]

2.68%

[4],[9]

2.53%

2.08%

6.50%

Payment terms

'Interest Only

[1]

'Interest Only

[2]

'Interest Only

[3]

'Interest Only

[4]

'Interest Only

[5]

'Interest Only

[6]

'Interest Only

[7]

'Principal & Interest

[7]

Maturity date

30-Nov-15

[1],[10]

1-Mar-17

[10],[2]

1-May-17

[10],[3]

1-Jul-17

[10],[4]

1-Aug-16

[10],[5]

30-Sep-16

[10],[6]

1-Oct-17

[10],[7]

1-Sep-36

[10],[7]

Term of credit facility

'4 years

'four

'4 years

'3 years

'4 years

Amount outstanding

29,500,000

30,500,000

44,500,000

80,700,000

4,700,000

8,200,000

26,500,000

Unused borrowing capacity, amount

16,600,000

9,400,000

8,500,000

39,300,000

2,000,000

3,000,000

Repayments of debt

5,200,000

Periodic payment

60,000

80,000

Amortization schedule of mortgage loans on real estate

'30 years

Current capacity

72,500,000

120,000,000

6,700,000

11,200,000

6,300,000

Maximum borrowing capacity

$59,500,000

$13,000,000

$32,900,000

Interest rate during period

6.00%

[1]

On November 23, 2011, the Richardson Joint Venture entered into a four-year mortgage loan for borrowings up to $46.1 million. At closing, $29.5 million (the bInitial Fundingb) had been disbursed to the Richardson Joint Venture and $16.6 million (the bHoldbackb) remained available for future disbursements, subject to certain conditions set forth in the loan agreement. On January 11, 2013, the Company sold one of the properties in the Richardson Portfolio and repaid $5.2 million of the Initial Funding. As of SeptemberB 30, 2013, the outstanding principal balance was $30.5 million and $9.4 million of the Holdback remains available for future disbursements, subject to certain conditions set forth in the loan agreement. Interest on the Initial Funding is calculated at a fixed rate of 6.25% during the initial term of the loan. Interest on the Holdback is calculated at a variable annual rate of 400 basis points over three-month LIBOR, but at no point shall the interest rate be less than 6.25%.

[2]

On February 22, 2013, the Company entered into a four-year mortgage loan for borrowings up to $53.0 million. As of SeptemberB 30, 2013, $44.5 million had been disbursed to the Company and the remaining $8.5 million is available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain conditions contained in the loan documents. Monthly payments are initially interest only. Beginning March 1, 2016, monthly payments also include principal amortization payments of up to $60,000 per month.

[3]

On May 1, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $72.5 million secured by the 1800 West Loop Building and the Iron Point Business Park (the bPortfolio Revolving Loan Facilityb). The Portfolio Revolving Loan Facility is comprised of $59.5 million of revolving debt and $13.0 million of non-revolving debt available to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of September 30, 2013, the Company had no outstanding principal amount. Monthly payments are initially interest only. Beginning June 1, 2016, and to the extent that there are amounts outstanding under the non-revolving portion of the loan, monthly payments will include interest and principal amortization payments of up to $80,000 per month.

[4]

On June 26, 2013, the Company, through its indirect wholly owned subsidiaries, entered into a four-year secured mortgage loan for borrowings of up to $120.0 million secured by Northridge Center I & II, Powers Ferry Landing East, West Loop I & II and the Austin Suburban Portfolio (the bPortfolio Mortgage Loanb). As of September 30, 2013, $80.7 million had been disbursed to the Company with the remaining $39.3 million available for future disbursements to be used for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. Monthly payments are initially interest only. Beginning July 1, 2016, monthly payments will include principal and interest with principal payments calculated using an amortization schedule of 30 years and an assumed annual interest rate of 6.0%.

[5]

See b- Recent Transactions - 1635 N. Cahuenga Mortgage Loanb below.

[6]

See b- Recent Transactions - Burbank Collection Mortgage Loanb below.

[7]

See b- Recent Transactions - 50 Congress Mortgage Loanb below.

[8]

Represents the unamortized premium on bond payable due to the above-market interest rates when the bond was assumed. The premium is amortized over the remaining life of the bond.

[9]

Contractual interest rate represents the interest rate in effect under the loan as of SeptemberB 30, 2013. Effective interest rate is calculated as the actual interest rate in effect as of SeptemberB 30, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at SeptemberB 30, 2013, where applicable.

[10]

Represents the initial maturity date or the maturity date as extended as of SeptemberB 30, 2013; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown.

NOTES_AND_BOND_PAYABLE_Schedul1

NOTES AND BOND PAYABLE (Schedule of Maturities of Long-term Debt) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Notes and Bonds Payable [Abstract]	'
October 1, 2013 through December 31, 2013	$35
2014	140
2015	30,642
2016	13,639
2017	151,164
Thereafter	6,460
Notes and bond payable outstanding	$202,080

NOTES_AND_BOND_PAYABLE_1635_N_

NOTES AND BOND PAYABLE (1635 N. Cahuenga Mortgage Loan) (Details) (1635 N. Cahuenga Mortgage Loan [Member], Mortgages [Member], USD $)	9 Months Ended		0 Months Ended			0 Months Ended
	Sep. 30, 2013		Sep. 30, 2013	Jul. 24, 2013	Aug. 02, 2013	Sep. 30, 2013
			Secured Debt [Member]	Secured Debt [Member]	Secured Debt [Member]	Secured Debt [Member]
						Beginning August 1, 2016 [Member]
Debt Instrument [Line Items]	'		'	'	'	'
Term of credit facility	'		'	'3 years	'	'
Current capacity	'		'	$6,700,000	'	'
Ownership interest	'		'	70.00%	'	'
Amount outstanding	'		'	'	4,700,000	'
Unused borrowing capacity, amount	'		2,000,000	'	'	'
Description of variable rate basis	'one-month LIBOR	[1],[2]	'one-month LIBOR	'	'	'
Basis spread on variable rate	2.35%	[1],[2]	'	'	2.35%	'
Periodic payment	'		'	'	'	$7,000

[1]	See b- Recent Transactions - 1635 N. Cahuenga Mortgage Loanb below.
[2]	Contractual interest rate represents the interest rate in effect under the loan as of SeptemberB 30, 2013. Effective interest rate is calculated as the actual interest rate in effect as of SeptemberB 30, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at SeptemberB 30, 2013, where applicable.

NOTES_AND_BOND_PAYABLE_Burbank

NOTES AND BOND PAYABLE (Burbank Collection Mortgage Loan) (Details) (Secured Debt [Member], Mortgages [Member], Burbank Collection Mortgage Loan [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Sep. 10, 2013
Debt Instrument [Line Items]	'
Term of credit facility	'3 years
Current capacity	$11.20
Ownership interest	90.00%
Amount outstanding	8.2
Unused borrowing capacity, amount	3
Basis spread on variable rate	2.35%
Description of variable rate basis	'one-month LIBOR
Guaranty percentage	25.00%
Maximum [Member]	'
Debt Instrument [Line Items]	'
Liability cap	$3.50

NOTES_AND_BOND_PAYABLE_50_Cong

NOTES AND BOND PAYABLE (50 Congress First Mortgage Loan) (Details) (Secured Debt [Member], Mortgages [Member], 50 Congress Mortgage Loan [Member], USD $)	0 Months Ended
	Sep. 30, 2013	Sep. 25, 2013	Sep. 26, 2013
Debt Instrument [Line Items]	'	'	'
Term of credit facility	'	'4 years	'
Maximum borrowing capacity	'	$32,900,000	'
Amount outstanding	26,500,000	'	'
Current capacity	6,300,000	'	'
Basis spread on variable rate	'	'	1.90%
Description of variable rate basis	'one-month LIBOR	'	'
Frequency of periodic payment	'Monthly	'	'
Beginning November 1, 2016 [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Periodic payment	32,000	'	'
Available for Future Disbursements [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Current capacity	3,300,000	'	'
Available through October 1, 2016 [Member]	'	'	'
Debt Instrument [Line Items]	'	'	'
Current capacity	$3,000,000	'	'

FAIR_VALUE_DISCLOSURES_Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) (USD $)	Sep. 30, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Sep. 30, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate loans receivable, Face Value	$22,000	$92,334
Notes and bond payable, Face Value	202,080	33,751
Carrying Amount [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate loans receivable, Value	21,787	71,906
Notes and bond payable, Value	203,680	33,751
Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate loans receivable, Value	21,892	70,750
Notes and bond payable, Value	$205,173	$35,928

FAIR_VALUE_DISCLOSURES_Schedul1

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) (USD $)	Sep. 30, 2013
In Thousands, unless otherwise specified	Sep. 30, 2013
Recurring Basis [Member] \| Commercial Mortgage Backed Securities [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	$1,531
Recurring Basis [Member] \| Commercial Mortgage Backed Securities [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	0
Recurring Basis [Member] \| Commercial Mortgage Backed Securities [Member] \| Significant Other Observable Inputs (Level 2) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	1,531
Recurring Basis [Member] \| Commercial Mortgage Backed Securities [Member] \| Significant Unobservable Inputs (Level 3) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	0
Nonrecurring Basis [Member] \| Bonds Payable [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	8,780
Nonrecurring Basis [Member] \| Bonds Payable [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	0
Nonrecurring Basis [Member] \| Bonds Payable [Member] \| Significant Other Observable Inputs (Level 2) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	0
Nonrecurring Basis [Member] \| Bonds Payable [Member] \| Significant Unobservable Inputs (Level 3) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	8,780
Nonrecurring Basis [Member] \| Foreclosed Real Estate [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	50,760
Nonrecurring Basis [Member] \| Foreclosed Real Estate [Member] \| Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	0
Nonrecurring Basis [Member] \| Foreclosed Real Estate [Member] \| Significant Other Observable Inputs (Level 2) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	0
Nonrecurring Basis [Member] \| Foreclosed Real Estate [Member] \| Significant Unobservable Inputs (Level 3) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	$50,760

FAIR_VALUE_DISCLOSURES_Fair_Va

FAIR VALUE DISCLOSURES (Fair Value Inputs) (Details) (1180 Raymond [Member], USD $)	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Estimated Capitalization Rate Used to Estimate Fair Value of Property	6.50%
Tax Abatement Asset	4.8
Discounted Cash Flow [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Fair Value Inputs, Discount Rate	4.25%
Discounted Cash Flow [Member] \| Property Tax Abatement Intangible Asset [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Fair Value Inputs, Discount Rate	9.00%

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended				9 Months Ended
In Thousands, unless otherwise specified	Sep. 30, 2013		Sep. 30, 2012		Sep. 30, 2013		Sep. 30, 2012		Dec. 31, 2012
Related Party Transaction [Line Items]	'		'		'		'		'
Payable as of	$0		'		$0		'		$21
Administrative fees, amount paid	44		34		102		70		'
Advisor and Dealer Manager [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Incurred	2,136		9,559		5,833		20,260		'
Payable as of	0		'		0		'		21
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Asset Management Fees [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Expenses	1,235	[1]	460	[1]	2,965	[1]	1,099	[1]	'
Payable as of	0	[1]	'		0	[1]	'		0	[1]
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Real Estate Acquisition Fee [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Expenses	857		960		2,469		1,040		'
Payable as of	0		'		0		'		0
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Reimbursement of Operating Expenses [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Expenses	44	[2]	34	[2]	102	[2]	70	[2]	'
Payable as of	0	[2]	'		0	[2]	'		21	[2]
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Dispositon Fees [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Expenses	0	[3]	0	[3]	77	[3]	21	[3]	'
Payable as of	0	[3]	'		0	[3]	'		0	[3]
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Sales Commissions [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Incurred	0		4,843		0		10,717		'
Payable as of	0		'		0		'		0
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Dealer Manager Fees [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Incurred	0		2,420		0		5,313		'
Payable as of	0		'		0		'		0
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Reimbursable Other Offering Costs [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Incurred	0		404		0		1,210		'
Payable as of	0		'		0		'		0
Advisor and Dealer Manager [Member] \| Capitalized [Member] \| Acquisition and Origination Fees on Real Estate Loans Receivable [Member]	'		'		'		'		'
Related Party Transaction [Line Items]	'		'		'		'		'
Incurred	0		438		220		790		'
Payable as of	$0		'		$0		'		$0

[1]	Amounts include asset management fees from discontinued operations.
[2]	The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Companybs allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $44,000 and $34,000 for the three months ended SeptemberB 30, 2013 and 2012, respectively, and $102,000 and $70,000 for the nine months ended SeptemberB 30, 2013 and 2012, respectively, and were the only employee costs reimbursed under the Advisory Agreement during these periods. The Company will not reimburse 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 or benefits the Advisor or its affiliates may pay to the Companybs executive officers.
[3]	Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.

PRO_FORMA_FINANCIAL_INFORMATIO2

PRO FORMA FINANCIAL INFORMATION (Narrative) (Details) (USD $)	3 Months Ended	9 Months Ended
In Millions, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2013
Business Acquisition [Line Items]	'	'
Business combination and acquisition cost expensed	'	$3.30
Office Property, Portfolio [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired	9	9
Apartment Property [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired through foreclosure	1	1
Austin Suburban Portfolio [Member] \| Office Portfolio [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired	1	1
Austin Suburban Portfolio [Member] \| Office Property, Portfolio [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired	3	3
Austin Suburban Portfolio [Member] \| Office Property [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired	3	3
Westmoor Center [Member] \| Office Property [Member]	'	'
Business Acquisition [Line Items]	'	'
Number of real estate properties acquired	3	3
Austin Suburban Portfolio and Westmoor Center [Member]	'	'
Business Acquisition [Line Items]	'	'
Business combination and acquisition cost expensed	$0.70	$2.80

PRO_FORMA_FINANCIAL_INFORMATIO3

PRO FORMA FINANCIAL INFORMATION (Unaudited Pro Forma Basis) (Details) (Austin Suburban Portfolio and Westmoor Center [Member], USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Austin Suburban Portfolio and Westmoor Center [Member]	'	'	'	'
Business Acquisition [Line Items]	'	'	'	'
Revenues	$23,687	$10,828	$59,481	$30,007
Depreciation and amortization	9,259	4,897	23,807	12,108
Net income (loss)	$8,105	($3,083)	$9,269	($5,691)
Net income (loss) per common share, basic and diluted	$0.14	($0.05)	$0.16	($0.11)
Weighted-average number of common shares outstanding, basic and diluted	58,294,420	58,294,420	58,294,420	53,187,132

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended		9 Months Ended
In Thousands, except Share data, unless otherwise specified	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Earnings Per Share [Abstract]	'	'	'	'
Income (loss) from continuing operations	$7,332	($3,385)	$2,749	($6,948)
Loss from continuing operations attributable to noncontrolling interests	84	132	238	105
Income (loss) from continuing operations attributable to common stockholders	7,416	-3,253	2,987	-6,843
Total (loss) income from discontinued operations	-72	-275	3,825	-225
Total loss (income) from discontinued operations attributable to noncontrolling interests	0	29	-398	77
Total (loss) income from discontinued operations attributable to common stockholders	-72	-246	3,427	-148
Net income (loss) attributable to common stockholders	$7,344	($3,499)	$6,414	($6,991)
Weighted-average number of common shares outstanding, basic and diluted	58,330,896	35,958,174	58,265,522	29,732,658
Basic and diluted income (loss) per common share:	'	'	'	'
Continuing operations	$0.13	($0.09)	$0.05	($0.23)
Discontinued operations	$0	($0.01)	$0.06	($0.01)
Net income (loss) per common share	$0.13	($0.10)	$0.11	($0.24)

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)

Sep. 30, 2013

Dec. 31, 2012

Sep. 10, 2010

24-May-12

Feb. 29, 2012

Jan. 31, 2012

Dec. 31, 2011

Sep. 10, 2010

24-May-12

Feb. 29, 2012

Sep. 10, 2010

Sep. 24, 2012

Oct. 15, 2013

Oct. 31, 2013

Roseville Commerce Center [Member]

6151 and 6201 Powers Ferry Landing East Buildings [Member]

Subsequent Event [Member]

properties

acre

Industrial/Flex Property [Member]

Industrial Flex Property, Used as Colleteral, Building 1 [Member]

Industrial Flex Property, Used as Colleteral, Building 2 [Member]

Industrial Flex Property, Used as Colleteral, Building 3 [Member]

Industrial Flex Property, Used as Colleteral, Building 4 [Member]

Industrial Flex Property, Used as Colleteral, Building 5 [Member]

Partially Improved Land [Member]

sqft

Office Building [Member]

Roseville Commerce Center [Member]

6151 and 6201 Powers Ferry Landing East Buildings [Member]

acre

properties

sqft

properties

acre

properties

Industrial/Flex Property [Member]

sqft

Office Building [Member]

properties

Subsequent Event [Line Items]

Number of first mortgagr loans

Mortgage loans on real estate, face value

$22,000,000

$92,334,000

$5,900,000

$17,000,000

Properties used as collateral

Net rentable area

22,500

393,502

246,475

Area of land

Number of real estate properties

Number of real estate properties sold

Net book value

700,000

600,000

4,000,000

10,400,000

Sale price of real estate property

$800,000

$1,300,000

$5,900,000

$18,500,000