Pacific Oak Strategic Opportunity REIT (PCOK) 10-K11 Mar 142013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information Document (USD $)	12 Months Ended
Document and Entity Information Document (USD $)	Dec. 31, 2013	Mar. 03, 2014	Jun. 30, 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-K	'	'
Document Period End Date	31-Dec-13	'	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Amendment Flag	'false	'	'
Entity Common Stock, Shares Outstanding	'	59,553,656	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$0

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013		Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012
Assets	'		'
Real estate held for investment, net	$638,159		$300,031
Real estate held for sale, net	0		17,602
Real estate loans receivable, net	21,893	[1]	71,906	[1]
Real estate securities	333		4,817
Total real estate and real estate-related investments, net	660,385		394,356
Cash and cash equivalents	57,996		125,960
Investments in unconsolidated joint ventures	16,338		7,926
Rents and other receivables, net	8,603		2,678
Above-market leases, net	2,935		2,284
Assets related to real estate held for sale	0		916
Prepaid expenses and other assets	29,881		3,808
Total assets	776,138		537,928
Notes payable and bond payable:	'		'
Notes and bond payable, net	257,420		29,411
Notes payable related to real estate held for sale	0		4,340
Total notes payable and bond payable, net	257,420		33,751
Accounts payable and accrued liabilities	15,558		5,995
Due to affiliates	0		21
Below-market leases, net	4,420		2,031
Other liabilities	6,481		2,827
Total liabilities	283,879		44,625
Commitments and contingencies (Note 15)	'		'
Redeemable common stock	17,573		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, 59,619,000 and 58,127,627 shares issued and outstanding as of December 31, 2013 and December 31, 2012, respectively	596		581
Additional paid-in capital	512,036		505,907
Cumulative distributions and net losses	-52,801		-38,615
Accumulated other comprehensive loss	-9		-13
Total KBS Strategic Opportunity REIT, Inc. stockholders' equity	459,822		467,860
Noncontrolling interests	14,864		15,792
Total equity	474,686		483,652
Total liabilities and equity	$776,138		$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) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value (usd per share)	$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 (usd per share)	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	59,619,000	58,127,627
Common stock, shares outstanding	59,619,000	58,127,627

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:	'	'	'
Rental income	$46,191	$13,780	$3,256
Tenant reimbursements	9,964	1,595	238
Interest income from real estate loans receivable	10,276	1,708	311
Interest income from real estate securities	91	926	53
Other operating income	1,974	871	43
Total revenues	68,496	18,880	3,901
Expenses:	'	'	'
Operating, maintenance, and management	22,804	7,779	2,803
Real estate taxes and insurance	9,282	2,476	800
Asset management fees to affiliate	4,068	1,625	302
Real estate acquisition fees to affiliate	2,784	2,206	460
Real estate acquisition fees and expenses	1,218	1,352	1,139
Costs related to foreclosure of loans receivable	0	0	901
General and administrative expenses	3,160	3,075	1,956
Depreciation and amortization	28,677	8,606	2,992
Interest expense	2,706	2,199	281
Impairment charges on real estate held for investment	1,433	0	0
Total expenses	76,132	29,318	11,634
Other income (loss):	'	'	'
Other interest income	62	97	117
Gain from extinguishment of debt	0	581	0
Income from unconsolidated joint venture	95	116	0
Equity in loss of unconsolidated joint venture	-146	0	0
Gain on early payoff of real estate loan receivable	0	358	0
Gain on sale of real estate securities	0	214	0
Gain on foreclosure of real estate loan receivable	7,473	0	0
Total other income, net	7,484	1,366	117
Loss from continuing operations	-152	-9,072	-7,616
Discontinued operations:	'	'	'
Gain on sale of real estate	13,108	593	0
Loss from discontinued operations	-1,367	-1,616	-183
Total income (loss) from discontinued operations	11,741	-1,023	-183
Net income (loss)	11,589	-10,095	-7,799
Net (income) loss attributable to noncontrolling interests	-96	333	218
Net income (loss) attributable to common stockholders	$11,493	($9,762)	($7,581)
Basic and diluted income (loss) per common share:	'	'	'
Continuing operations (in dollars per share)	$0	($0.25)	($0.65)
Discontinued operations (in dollars per share)	$0.20	($0.03)	($0.01)
Net income (loss) per common share (in dollars per share)	$0.20	($0.28)	($0.66)
Weighted-average number of common shares outstanding, basic and diluted	58,359,568	35,458,656	11,432,823

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Statement of Other Comprehensive Income [Abstract]	'	'	'
Net income (loss)	$11,589	($10,095)	($7,799)
Other comprehensive income (loss):	'	'	'
Reclassification of realized gain on sale of real estate securities	0	-214	0
Unrealized gain (loss) on real estate securities	4	247	-46
Total other comprehensive income (loss)	4	33	-46
Total comprehensive income (loss)	11,593	-10,062	-7,845
Total comprehensive (income) loss attributable to noncontrolling interests	-96	333	218
Total comprehensive income (loss) attributable to common stockholders	$11,497	($9,729)	($7,627)

CONSOLIDATED_STATEMENTS_OF_EQU

CONSOLIDATED STATEMENTS OF EQUITY (USD $)	Total	Total Stockholders' Equity	Common Stock [Member]	Additional Paid-in Capital	Cumulative Distributions and Net Losses	Accumulated Other Comprehensive Gain (Loss)	Noncontrolling Interests
In Thousands, except Share data, unless otherwise specified	Total	Total Stockholders' Equity	Common Stock [Member]	Additional Paid-in Capital	Cumulative Distributions and Net Losses	Accumulated Other Comprehensive Gain (Loss)	Noncontrolling Interests
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	'	'	-343,049	'	'	'	'
Redemptions of common stock, value	-3,200	'	'	'	'	'	'
Balance, value at Dec. 31, 2013	474,686	'	596	'	'	'	'
Balance, shares at Dec. 31, 2013	59,619,000	'	59,619,000	'	'	'	'
Balance, value at Dec. 31, 2010	41,058	41,058	52	42,988	-1,982	'	'
Balance, shares at Dec. 31, 2010	'	'	5,132,988	'	'	'	'
Increase (Decrease) in Stockholders' Equity [Roll Forward]	'	'	'	'	'	'	'
Net income (loss)	-7,799	-7,581	'	'	-7,581	'	-218
Other comprehensive income (loss)	-46	-46	'	'	'	-46	'
Issuance of common stock, shares	'	'	17,085,827	'	'	'	'
Issuance of common stock, value	169,166	169,166	171	168,995	'	'	'
Transfers to redeemable common stock	-5,291	-5,291	'	-5,291	'	'	'
Redemptions of common stock, shares	'	'	-4,000	'	'	'	'
Redemptions of common stock, value	-40	-40	-1	-39	'	'	'
Distributions declared	-6,405	-6,405	'	'	-6,405	'	'
Commissions on stock sales and related dealer manager fees to affiliate	-14,324	-14,324	'	-14,324	'	'	'
Other offering costs	-3,512	-3,512	'	-3,512	'	'	'
Noncontrolling interests contributions	13,737	'	'	'	'	'	13,737
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 (loss)	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
Distribution 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)	11,589	11,493	'	'	11,493	'	96
Other comprehensive income (loss)	4	4	'	'	'	4	0
Issuance of common stock, shares	'	'	1,751,478	'	'	'	'
Issuance of common stock, value	16,641	16,641	18	16,623	'	'	'
Transfers to redeemable common stock	-7,922	-7,922	'	-7,922	'	'	'
Redemptions of common stock, shares	'	'	-260,105	'	'	'	'
Redemptions of common stock, value	-2,450	-2,450	-3	-2,447	'	'	'
Distributions declared	-25,679	-25,679	'	'	-25,679	'	'
Other offering costs	-125	-125	'	-125	'	'	'
Noncontrolling interests contributions	1,213	'	'	'	'	'	1,213
Distribution to noncontrolling interest	-2,237	'	'	'	'	'	-2,237
Balance, value at Dec. 31, 2013	$474,686	$459,822	$596	$512,036	($52,801)	($9)	$14,864
Balance, shares at Dec. 31, 2013	59,619,000	'	59,619,000	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Cash Flows from Operating Activities:	'	'	'
Net income (loss)	$11,589	($10,095)	($7,799)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:	'	'	'
Equity in loss of unconsolidated joint venture	146	0	0
Depreciation and amortization, continuing operations	28,677	8,606	2,992
Depreciation and amortization, discontinued operations	1,057	926	211
Impairment charges on real estate held for investment	1,433	0	0
Non-cash interest income on real estate related investments	-842	-1,053	48
Gain on sale of real estate	-13,108	-593	0
Gain on extinguishment of debt	0	-581	0
Gain on early payoff of real estate loan receivable	0	-358	0
Gain on sale of real estate securities	0	-214	0
Gain on foreclosure of real estate loan receivable	-7,473	0	0
Deferred rent	-4,694	-1,932	-207
Bad debt expense	197	52	17
Amortization of above- and below-market leases, net	138	1,088	613
Amortization of deferred financing costs	976	295	24
Interest accretion on real estate securities	36	819	0
Amortization of premium on bonds payable	-92	0	0
Write-off of closing costs related to foreclosed assets	0	0	696
Changes in assets and liabilities:	'	'	'
Rents and other receivables	-1,312	-420	-273
Deferred interest receivable	1,001	0	0
Prepaid expenses and other assets	-2,299	-1,979	-207
Accounts payable and accrued liabilities	6,089	2,302	108
Due to affiliates	-21	4	-295
Security deposits and other liabilities	3,132	2,105	565
Net cash provided by (used in) operating activities	24,630	-1,028	-3,507
Cash Flows from Investing Activities:	'	'	'
Acquisitions of real estate	-295,167	-211,655	-73,597
Improvements to real estate	-22,398	-7,054	-2,430
Proceeds from sales of real estate, net	30,658	1,843	0
Escrow deposits for future real estate purchases	-13,000	0	0
Investments in real estate loans receivable	-21,568	-78,398	-20,120
Payoff of real estate loan receivable	35,750	0	0
Proceeds from early payoff of real estate loan receivable	0	7,903	0
Principal repayments on real estate loans receivable	0	0	438
Purchase of real estate securities	0	0	-58,696
Principal repayments on real estate securities	4,452	38,270	0
Proceeds from sale of real estate securities	0	14,943	0
Investment in unconsolidated joint venture	-9,000	-8,000	0
Distribution of capital from unconsolidated joint venture	398	74	0
Net cash used in investing activities	-289,875	-242,074	-154,405
Cash Flows from Financing Activities:	'	'	'
Proceeds from notes payable	251,065	4,226	33,002
Payments on notes payable	-36,084	-2,896	0
Payments on repurchase agreements	0	-30,201	30,201
Payments of deferred financing costs	-4,988	0	-1,161
Proceeds from issuance of common stock	0	348,790	165,079
Payments to redeem common stock	-2,450	-755	-40
Payments of commissions on stock sales and related dealer manager fees	0	-31,134	-14,324
Payments of other offering costs	-200	-3,612	-3,527
Distributions paid	-9,038	-4,341	-2,318
Noncontrolling interests contributions	1,213	2,630	13,737
Distributions to noncontrolling interests	-2,237	-24	0
Net cash provided by financing activities	197,281	282,683	220,649
Net (decrease) increase in cash and cash equivalents	-67,964	39,581	62,737
Cash and cash equivalents, beginning of period	125,960	86,379	23,642
Cash and cash equivalents, end of period	57,996	125,960	86,379
Supplemental Disclosure of Cash Flow Information:	'	'	'
Interest paid, net of capitalized interest of $2,718 for the year ended December 31, 2013	1,635	2,073	118
Supplemental Disclosure of Noncash Transactions:	'	'	'
Investment in real estate through foreclosure	45,943	0	32,213
Assets assumed in connection with foreclosure of real estate	7,156	0	0
Liabilities assumed on foreclosed real estate	9,671	0	200
Increase in capital expenses payable	2,583	1,230	921
Increase in lease commissions payable	282	137	158
Increase in lease incentive payable	260	53	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	$16,641	$8,544	$4,087

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
Statement of Cash Flows [Abstract]	'
Interest capitalized	$2,718

ORGANIZATION

ORGANIZATION	12 Months Ended
ORGANIZATION	Dec. 31, 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 sold 56,584,976 shares of common stock in its primary offering for gross offering proceeds of $561.7 million. As of December 31, 2013, the Company had sold 3,080,830 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $29.3 million. Also, as of December 31, 2013, the Company had redeemed 343,049 shares sold in the Offering for $3.2 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.
	As of December 31, 2013, the Company owned 12 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 retail property, one apartment property, two investments in undeveloped land encompassing an aggregate of 1,670 acres, one investment in CMBS, one first mortgage loan and two investments in unconsolidated joint ventures.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	'
	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	Principles of Consolidation and Basis of Presentation
	The consolidated financial statements include the accounts of the Company, 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.
	The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
	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 prior periods. In addition, the Company disposed of one industrial/flex building and four parcels of partially improved land encompassing 6.0 acres during the year ended December 31, 2012 and three office buildings and one industrial/flex property during the year ended December 31, 2013. As a result, certain reclassifications were made to the consolidated financial statements and footnote disclosures for all periods presented.
	Revenue Recognition
	Real Estate
	The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is reasonably assured and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to:

	•	whether the lease stipulates how a tenant improvement allowance may be spent;

	•	whether the amount of a tenant improvement allowance is in excess of market rates;

	•	whether the tenant or landlord retains legal title to the improvements at the end of the lease term;

	•	whether the tenant improvements are unique to the tenant or general-purpose in nature; and

	•	whether the tenant improvements are expected to have any residual value at the end of the lease.
	The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred.
	The Company makes estimates of the collectibility of its tenant receivables related to base rents, including deferred rent, expense reimbursements and other revenue or income. Management specifically analyzes accounts receivable, deferred rents receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectibility of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments.
	Real Estate Loans Receivable
	Interest income on the Company’s real estate loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination or acquisition fees and costs, as well as acquisition premiums or discounts, are amortized over the term of the loan as an adjustment to interest income. The Company places loans on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reverses the accrual for unpaid interest and generally does not recognize subsequent interest income until cash is received, or the loan returns to accrual status. Generally, a loan may be returned to accrual status when all delinquent principal and interest are brought current in accordance with the terms of the loan agreement and certain performance criteria have been met.
	The Company will recognize interest income on loans purchased at discounts to face value where the Company expects to collect less than the contractual amounts due under the loan when that expectation is due, at least in part, to the credit quality of the borrower. Income is recognized at an interest rate equivalent to the estimated yield on the loan, as calculated using the carrying value of the loan and the expected cash flows. Changes in estimated cash flows are recognized through an adjustment to the yield on the loan on a prospective basis. Projecting cash flows for these types of loans requires a significant amount of assumptions and judgment, which may have a significant impact on the amount and timing of revenue recognized on these investments. The Company recognizes interest income on non-performing loans on a cash basis since these loans generally do not have an estimated yield and collection of principal and interest is not assured.
	Real Estate Securities
	The Company recognizes interest income on real estate securities that are beneficial interests in securitized financial assets and are rated “AA” and above on an accrual basis according to the contractual terms of the securities. Discounts or premiums are amortized to interest income over the life of the investment using the interest method.
	The Company recognizes interest income on real estate securities that are beneficial interests in securitized financial assets that are rated below “AA” using the effective yield method, which requires the Company to periodically project estimated cash flows related to these securities and recognize interest income at an interest rate equivalent to the estimated yield on the security, as calculated using the security’s estimated cash flows and amortized cost basis, or reference amount. Changes in the estimated cash flows are recognized through an adjustment to the yield on the security on a prospective basis. Projecting cash flows for these types of securities requires significant judgment, which may have a significant impact on the timing of revenue recognized on these investments.
	Cash and Cash Equivalents
	The Company recognizes interest income on its cash and cash equivalents as it is earned and records such amounts as other interest income.
	Real Estate
	Depreciation and Amortization
	Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows:


	Buildings	25-40 years
	Building improvements	10-40 years
	Tenant improvements	Shorter of lease term or expected useful life
	Tenant origination and absorption costs	Remaining term of related leases, including below-market renewal periods
	Real Estate Acquisition Valuation
	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. Acquisition costs are expensed as incurred and restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. Real estate obtained in satisfaction of a loan is recorded at the estimated fair value of the real estate (net of liabilities assumed) or the fair value of the loan satisfied if more clearly evident. The excess of the carrying value of the loan over the fair value of the property is charged-off against the reserve for loan losses when title to the property is obtained. Costs of holding the property are expensed as incurred in the Company’s consolidated statements of operations.
	Intangible assets include the value of in-place leases, which represents the estimated value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. Acquired in-place lease value will be amortized to expense over the average remaining terms of the respective in-place leases, including any below-market renewal periods.
	The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant.
	The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods.
	The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods.
	The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases.
	Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income.
	Direct investments in undeveloped land or properties without leases in place at the time of acquisition are accounted for as an asset acquisition and not as a business combination. Acquisition fees and expenses are capitalized into the cost basis of an asset acquisition. Additionally, during the time in which the Company is incurring costs necessary to bring these investments to their intended use, certain costs such as legal fees, real estate taxes and insurance and financing costs are also capitalized.
	Impairment of Real Estate and Related Intangible Assets and Liabilities
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. During the year ended December 31, 2013, the Company recorded an impairment charge of $1.4 million with respect to two of its real estate properties held for investment. See Note 4, “Real Estate Held for Investment - Impairment on Real Estate” for more information. The Company did not record any impairment losses on its real estate and related intangible assets and liabilities during the years ended December 31, 2012 and 2011.
	Projecting future cash flows involves estimating expected future operating income and expenses related to the real estate and its related intangible assets and liabilities as well as market and other trends. Using inappropriate assumptions to estimate cash flows could result in incorrect fair values of the real estate and its related intangible assets and liabilities and could result in the overstatement of the carrying values of the Company’s real estate and related intangible assets and liabilities and an overstatement of its net income.
	Real Estate Held for Sale and Discontinued Operations
	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable related to real estate held for sale are classified as “notes payable related to real estate held for sale” for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less costs to sell. Additionally, the Company records the operating results related to real estate that has either been disposed of or is deemed to be held for sale as discontinued operations for all periods presented if the operations have been or are expected to be eliminated and the Company will not have any significant continuing involvement in the operations of the property following the sale.
	Real Estate Loans Receivable and Loan Loss Reserves
	The Company’s real estate loans receivable are recorded at amortized cost, net of loan loss reserves (if any), and evaluated for impairment at each balance sheet date. The amortized cost of a real estate loan receivable is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the loan. The amount of impairment, if any, will be measured by comparing the amortized cost of the loan to the present value of the expected cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent and collection of principal and interest is not assured. If a loan is deemed to be impaired, the Company will record a loan loss reserve and a provision for loan losses to recognize impairment. As of December 31, 2013, there was no loan loss reserve and the Company did not record any impairment losses related to its real estate loans receivable during the years ended December 31, 2013, 2012 and 2011.
	The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through “Provision for loan losses” on the Company’s consolidated statements of operations and is decreased by charge-offs to specific loans when losses are confirmed. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. If the Company purchases a loan at a discount to face value and at the acquisition date the Company expects to collect less than the contractual amounts due under the terms of the loan based, at least in part, on the Company’s assessment of the credit quality of the borrower, the Company will consider such a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts the Company estimated to be collected at the time of acquisition. The Company also considers a loan to be impaired if it grants the borrower a concession through a modification of the loan terms or if it expects to receive assets (including equity interests in the borrower) with fair values that are less than the carrying value of the loan in satisfaction of the loan. A reserve is established when the present value of payments expected to be received, observable market prices, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or amounts expected to be received in satisfaction of a loan are lower than the carrying value of that loan.
	Failure to recognize impairments would result in the overstatement of earnings and the carrying value of the Company’s real estate loans held for investment. Actual losses, if any, could significantly differ from estimated amounts.
	Real Estate Securities
	The Company classifies its investments in real estate securities as available-for-sale, since the Company may sell them prior to their maturity but does not hold them principally for the purpose of making frequent investments and sales with the objective of generating profits on short-term differences in price. These investments are carried at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss). Estimated fair values are generally based on quoted market prices, when available, or on estimates provided by independent pricing sources or dealers who make markets in such securities. In certain circumstances, such as when the market for the securities becomes inactive, the Company may determine it is appropriate to perform an internal valuation of the securities. Upon the sale of a security, the previously recognized unrealized gain (loss) would be reversed out of accumulated other comprehensive income (loss) and the actual realized gain (loss) recognized in earnings.
	On a quarterly basis, the Company evaluates its real estate securities for other-than-temporary impairment. The Company reviews the projected future cash flows from these securities for changes in assumptions due to prepayments, credit loss experience and other factors. If, based on the Company’s quarterly estimate of cash flows, there has been an adverse change in the estimated cash flows from the cash flows previously estimated, the present value of the revised cash flows is less than the present value previously estimated, and the fair value of the securities is less than its amortized cost basis, an other-than-temporary impairment is deemed to have occurred.
	The Company is required to distinguish between other-than-temporary impairments related to credit and other-than-temporary impairments related to other factors (e.g., market fluctuations) on its real estate securities that it does not intend to sell and where it is not likely that the Company will be required to sell the security prior to the anticipated recovery of its amortized cost basis. The Company calculates the credit component of the other-than-temporary impairment as the difference between the amortized cost basis of the security and the present value of its estimated cash flows discounted at the yield used to recognize interest income. The credit component will be charged to earnings and the component related to other factors is recorded to other comprehensive income (loss).
	Investments in Unconsolidated Joint Ventures
Equity Method
The Company accounts for investments in unconsolidated joint venture entities in which the Company may exercise significant influence over, but does not control, using the equity method of accounting. Under the equity method, the investment is initially recorded at cost and subsequently adjusted to reflect additional contributions or distributions and the Company’s proportionate share of equity in the joint venture’s income (loss). The Company recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity in income (loss) of unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. As of December 31, 2013, the Company did not identify any indicators of impairment related to its unconsolidated real estate joint venture accounted for under the equity method.
Cost Method
The Company accounts for investments in unconsolidated joint venture entities in which the Company does not have the ability to exercise significant influence and has virtually no influence over partnership operating and financial policies using the cost method of accounting. Under the cost method, income distributions from the partnership are recognized in other income. Distributions that exceed the Company’s share of earnings are applied to reduce the carrying value of the Company’s investment and any capital contributions will increase the carrying value of the Company’s investment. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that would indicate a significant adverse effect on the fair value of the investment. As of December 31, 2013, the Company did not identify any indicators of impairment related to its unconsolidated real estate joint venture accounted for under the cost method.
Cash and Cash Equivalents
The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2013 and 2012.
The Company’s cash and cash equivalents balance exceeds federally insurable limits as of December 31, 2013. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Rents and Other Receivables
The Company periodically evaluates the collectibility of amounts due from tenants and maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintains an allowance for deferred rent receivable that arises from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates.
Deferred Financing Costs
Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized over the terms of the respective financing agreements using the interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Fair Value Measurements
Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other 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.
When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines that the market for a financial instrument owned by the Company is illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of 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 when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach.
Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument.
The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market).
The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities.
Dividend Reinvestment Plan
The Company has adopted a dividend reinvestment plan (the “DRP”) through which common stockholders may elect to reinvest an amount equal to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. The initial purchase price per share under the DRP will be $9.50. Once the Company establishes an estimated value per share, shares issued pursuant to the dividend reinvestment plan will be priced at the estimated value per share of the Company’s common stock, as determined by the Advisor or another firm chosen for that purpose. The Company expects to establish an estimated value per share after the completion of its offering stage. The offering stage will be considered complete when the Company is no longer publicly offering equity securities — whether through the Offering or follow-on public offerings – and has not done so for 18 months. No selling commissions or dealer manager fees will be paid on shares sold under the DRP. The board of directors of the Company may amend or terminate the DRP for any reason upon 10 days’ notice to participants.
Redeemable Common Stock
The Company has adopted a share redemption program that may enable stockholders to sell their shares to the Company in limited circumstances.
Pursuant to the share redemption program there are several limitations on the Company’s ability to redeem shares:

•	Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined under the share redemption program), the Company may not redeem shares until the stockholder has held the shares for one year.

•	During each calendar year, redemptions are limited to the amount of net proceeds from the sale of shares under the Company’s dividend reinvestment plan during the prior calendar year (except that, as of December 31, 2013, the Company also had available under the share redemption program up to $0.9 million in additional funds to redeem a qualifying stockholder’s shares if the shares were being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence;” for purposes of determining the amount of funds available for redemption under the program, redemptions for a stockholder’s death, qualifying disability or determination of incompetence, were made first from the $0.9 million before the general allocation for redemptions described above).

•	During any calendar year, the Company may redeem no more than 5% of the weighted‑average number of shares outstanding during the prior calendar year.

•	The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency.
Pursuant to the program, the Company redeemed shares at prices determined as follows:

•	The lower of $9.25 or 92.5% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least one year;

•	The lower of $9.50 or 95.0% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least two years;

•	The lower of $9.75 or 97.5% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least three years; and

•	The lower of $10.00 or 100.0% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least four years.
Notwithstanding the above, the redemption price for redemptions sought upon a stockholder’s death, “qualifying disability” or “determination of incompetence” was the amount paid to acquire the shares from the Company. Furthermore, once the Company establishes an estimated value per share of its common stock that is not based on the price to acquire a share in the Company’s primary offering or follow-on public offerings, the redemption price per share for all stockholders was to be equal to the estimated value per share, as determined by the Advisor or another firm chosen for that purpose. The Company expects to establish an estimated value per share after the completion of its offering stage. The Company considers its offering stage complete when it is no longer publicly offering equity securities ─ whether through the primary offering or a follow-on public offering ─ and has not done so for up to 18 months. “Public equity offering” for this purpose does not include offerings on behalf of selling stockholders or offerings related to a dividend reinvestment plan, employee benefit plan or the redemption of interests in the Operating Partnership. On February 14, 2014, the Company’s board of directors approved a Fourth Amended and Restated Share Redemption Program, see Note 17, “Subsequent Events ─ Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program.”
The Company’s board of directors may amend, suspend or terminate the share redemption program with 30 days’ notice to its stockholders. The Company may provide this notice by including such information in a Current Report on Form 8-K or in the Company’s annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to its stockholders.
The Company records amounts that are redeemable under the share redemption program as redeemable common stock in its consolidated balance sheets because the shares will be mandatorily redeemable at the option of the holder and therefore their redemption will be outside the control of the Company. However, because the amounts that can be redeemed will be determinable and only contingent on an event that is likely to occur (e.g., the passage of time) the Company presents the net proceeds from the current year and prior year DRP, net of current year redemptions, as redeemable common stock in its consolidated balance sheets.
The Company classifies as liabilities financial instruments that represent a mandatory obligation of the Company to redeem shares. The Company’s redeemable common shares are contingently redeemable at the option of the holder. When the Company determines it has a mandatory obligation to repurchase shares under the share redemption program, it will reclassify such obligations from temporary equity to a liability based upon their respective settlement values.
The Company limited the dollar value of shares that may be redeemed under the program as described above. For the year ended December 31, 2013, the Company had redeemed $2.4 million of common stock, which represented all redemption requests received in good order and eligible for redemption through the December 2013 redemption date. As of December 31, 2013, the Company could redeem up to $0.9 million of shares of common stock if the shares were being redeemed in connection with a stockholders’ death, qualifying disability or determination of incompetence. Additionally, based on the amount of net proceeds raised from the sale of shares under the dividend reinvestment plan during 2013, the Company had $16.6 million available for all redemptions in 2014, including shares that are redeemed in connection with a stockholders’ death, qualifying disability or determination of incompetence. On February 14, 2014, the Company’s board of directors approved a Fourth Amended and Restated Share Redemption Program, see Note 17, “Subsequent Events ─ Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program.”
Related Party Transactions
Pursuant to the Advisory Agreement and Dealer Manager Agreement, the Company is or was obligated to pay the Advisor and KBS Capital Markets Group, LLC (the “Dealer Manager”) specified fees upon the provision of certain services related to the Offering, the investment of funds in real estate and real estate-related investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is or was also obligated to reimburse the Advisor and Dealer Manager for organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company, and the Company is or was obligated to reimburse the Advisor for acquisition and origination expenses and certain operating expenses incurred on behalf of the Company or incurred in connection with providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. See note 11, “Related Party Transactions.”
The Company records all related party fees as incurred, subject to any limitations described in the Advisory Agreement. The Company had not incurred any subordinated participation in net cash flows or subordinated incentive listing fees payable to the Advisor through December 31, 2013.
On January 6, 2014, the Company, together with KBS Real Estate Investment Trust, Inc. (“KBS REIT I”), KBS Real Estate Investment Trust II, Inc. (“KBS REIT II”), KBS Real Estate Investment Trust III, Inc. (“KBS REIT III”), KBS Legacy Partners Apartment REIT, Inc. (“KBS Legacy Partners Apartment REIT”), KBS Strategic Opportunity REIT II, Inc. (“KBS Strategic Opportunity REIT II”), the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of coverage are shared between these various entities. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the plan, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance.
During the years ended December 31, 2013, 2012 and 2011, no other transactions occurred between the Company and the 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, as described in Note 12. 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.
The Company records all related party fees as incurred, subject to any limitations described in the Advisory Agreement.
Selling Commissions and Dealer Manager Fees
The Company paid the Dealer Manager up to 6.5% and 3.0% of the gross offering proceeds from the primary offering as selling commissions and dealer manager fees, respectively. A reduced sales commission and dealer manager fee was paid with respect to certain volume discount sales. All or a portion of the selling commissions was not charged with regard to shares sold to certain categories of purchasers. No sales commission or dealer manager fee is paid with respect to shares issued through the dividend reinvestment plan. The Dealer Manager reallowed 100% of sales commissions earned to participating broker-dealers. The Dealer Manager could reallow to certain participating broker-dealer up to 1% of the gross offering proceeds attributable to that participating broker-dealer as a marketing fee and, in special cases, the Dealer Manager could increase the reallowance.
Organization and Offering Costs
Organization and offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor, the Dealer Manager or their affiliates on behalf of the Company or may be paid directly by the Company. These offering costs include all expenses incurred by the Company in connection with the Offering. Organization costs include all expenses incurred by the Company in connection with the formation of the Company, including but not limited to legal fees and other costs to incorporate the Company.
The Company reimburses the Advisor for organization and offering costs up to an amount that, when combined with selling commissions, dealer manager fees and all other amounts spent by the Company on organization and offering expenses, does not exceed 15% of the gross proceeds of the Company’s primary offering and the offering under the DRP as of the date of reimbursement. At the termination of the primary offering and at the termination of the offering under the DRP, the Advisor agreed to reimburse the Company to the extent that selling commissions, dealer manager fees and other organization and offering expenses incurred by the Company exceed 15% of the gross offering proceeds of the respective offering.
In connection with the primary portion of the Offering, the Company reimbursed the Dealer Manager for underwriting compensation, provided that within 30 days after the end of the month in which the primary initial public offering terminated, the Dealer Manager was required to reimburse the Company to the extent that the Company’s reimbursements caused total underwriting compensation for the primary initial public offering to exceed 10% of the gross offering proceeds from such offering. The Company also paid directly or reimbursed the Dealer Manager for bona fide invoiced due diligence expenses of broker dealers. However, no reimbursements made by the Company to the Dealer Manager were allowed to cause total organization and offering expenses incurred by the Company (including selling commissions, dealer manager fees and all other items of organization and offering expenses) to exceed 15% of the aggregate gross proceeds from the Company’s primary offering and the offering under its DRP as of the date of reimbursement.
As of December 31, 2013, the Company’s selling commissions, dealer manager fees, and organization and other offering costs did not exceed 15% of the gross offering proceeds. Through December 31, 2013, including shares issued through the Company’s dividend reinvestment plan, the Company had issued 59,665,806 shares in the Offering for gross offering proceeds of $591.0 million and recorded selling commissions and dealer manager fees of $49.6 million and other offering costs of $10.7 million. Organization costs are expensed as incurred and offering costs, which include selling commissions and dealer manager fees, are charged as incurred as a reduction to stockholders’ equity.
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.
Acquisition and Origination Fees
The Company pays the Advisor an acquisition and origination fee equal to 1% of the cost of investments acquired, or the amount funded by the Company to acquire or originate mortgage, mezzanine, bridge or other loans, including any acquisition and origination expenses related to such investments and any debt attributable to such investments.
Asset Management Fee
With respect to investments in loans and any investments other than real estate, the Company pays the Advisor a monthly fee calculated, each month, as one-twelfth of 0.75% of the lesser of (i) the amount paid or allocated to acquire or fund the loan or other investment, inclusive of acquisition and origination fees and expenses related thereto and the amount of any debt associated with or used to acquire or fund such investment and (ii) the outstanding principal amount of such loan or other investment, plus the acquisition and origination fees and expenses related to the acquisition or funding of such investment, as of the time of calculation.
With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee equal to one-twelfth of 0.75% of the amount paid or allocated to acquire the investment, including the cost of subsequent capital improvements, inclusive of acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment.
In the case of investments made through joint ventures, the asset management fee is determined based on the Company’s proportionate share of the underlying investment.
Disposition Fee
For substantial assistance in connection with the sale of properties or other investments, the Company pays the Advisor or its affiliates 1.0% of the contract sales price of each property or other investment sold; provided, however, in no event may the disposition fees paid to the Advisor, its affiliates and unaffiliated third parties exceed 6.0% of the contract sales price.
Income Taxes
The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to organize and operate in such a manner as to qualify for treatment as a REIT.
The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for the tax years ended December 31, 2013, 2012 and 2011. As of December 31, 2013, returns for the calendar year 2012, 2011 and 2010 remain subject to examination by major tax jurisdictions.
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) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the years ended December 31, 2013, 2012 and 2011.
Distributions declared per share were $0.44, $0.40 and $0.30 during the years ended December 31, 2013, 2012 and 2011, respectively.
Square Footage, Occupancy and Other Measures
Square footage, number of acres, occupancy and other measures used to describe real estate and real estate-related investments included in the Notes to Consolidated Financial Statements are presented on an unaudited basis.
Recently Issued Accounting Standards Updates
In February 2013, 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	12 Months Ended
RECENT ACQUISITIONS OF REAL ESTATE	Dec. 31, 2013
Business Combinations [Abstract]	'
RECENT ACQUISITIONS OF REAL ESTATE	'
	RECENT ACQUISITIONS OF REAL ESTATE
	During the year ended December 31, 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
	Maitland Promenade II	Orlando		FL	12/18/13	3,434		22,470		4,812		236		—			30,952
	Maitland Promenade II	Orlando		FL	12/18/13	3,434		22,470		4,812		236		—			30,952
						$	38,671	$	211,278	$	26,838	$	2,106	$	(3,953	)	$	274,940
						$	38,671	$	211,278	$	26,838	$	2,106	$	(3,953	)	$	274,940
	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
	Maitland Promenade II	5.5		8	—
	During the year ended December 31, 2013, the Company acquired five office properties, each of which was recorded as a business combination, and expensed $4.0 million of acquisition costs. For the year ended December 31, 2013, the Company recognized $18.5 million of total revenues and $15.8 million of operating expenses from these properties.
	Investment in Undeveloped Land
	On December 10, 2013, the Company, through an indirect wholly owned subsidiary, and Crescent Bay Land Fund 2 LLC entered into an agreement to form a joint venture (the “Park Highlands II Joint Venture”) and on December 10, 2013, the Park Highlands II Joint Venture acquired 295 acres of undeveloped land in North Las Vegas, Nevada (“Park Highlands II”). Neither Crescent Bay nor the seller is affiliated with the Company or the Advisor.
	The Company owns a 99.5% controlling membership interest in the Park Highlands II Joint Venture and exercises significant control and therefore consolidates the Park Highlands II Joint Venture in its financial statements. Income and losses are generally allocated among the members such that each member’s capital account is proportionately equal to the distributions that would be made to each member if the Park Highlands II Joint Venture were dissolved pursuant to the provisions of the joint venture agreement. The Company records the portion of the Park Highlands II Joint Venture not owned by the Company as noncontrolling interest. The purchase price including acquisition fees and expenses for Park Highlands II was $20.3 million, all of which was recorded as land.
	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	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
REAL ESTATE	'
	REAL ESTATE HELD FOR INVESTMENT
	As of December 31, 2013, the Company owned 12 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 December 31, 2013, these properties were 72% occupied. In addition, the Company owned one apartment property, containing 317 units and encompassing approximately 0.3 million rentable square feet, which was 71% occupied. The Company also owned two investments in undeveloped land encompassing an aggregate of 1,670 acres. The following table summarizes the Company’s real estate held for investment as of December 31, 2013 and December 31, 2012, respectively (in thousands):


			December 31, 2013				31-Dec-12
	Land		$	159,918			$	88,794

	Buildings and improvements		460,088				197,443

	Tenant origination and absorption costs		48,012				21,409

	Total real estate, cost		668,018				307,646

	Accumulated depreciation and amortization		(29,859		)		(7,615		)
	Total real estate, net		$	638,159			$	300,031

	The following table provides summary information regarding the Company’s real estate held for investment as of December 31, 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 (1)							Real Estate,
																											Net
	Village Overlook Buildings		8/2/10		Stockbridge		GA		Office		$	322		$	952		$	—		$	1,274		$	—			$	1,274		100	%

	Academy Point Atrium I		11/3/10		Colorado Springs		CO		Office		1,291			2,009			—			3,300			—				3,300			100	%

	Northridge Center I & II		3/25/11		Atlanta		GA		Office		2,234			5,754			—			7,988			(626		)		7,362			100	%

	Iron Point Business Park		6/21/11		Folsom		CA		Office		2,670			18,652			191			21,513			(1,821		)		19,692			100	%

	1635 N. Cahuenga Building		8/3/11		Los Angeles		CA		Office		3,112			4,508			148			7,768			(493		)		7,275			70	%

	Richardson Portfolio:
	Palisades Central I		11/23/11		Richardson		TX		Office		1,037			9,099			1,318			11,454			(1,551		)		9,903			90	%

	Palisades Central II		11/23/11		Richardson		TX		Office		810			16,408			1,927			19,145			(2,902		)		16,243			90	%

	Greenway I		11/23/11		Richardson		TX		Office		561			2,180			—			2,741			(208		)		2,533			90	%

	Greenway III		11/23/11		Richardson		TX		Office		702			3,824			944			5,470			(965		)		4,505			90	%

	Undeveloped Land		11/23/11		Richardson		TX		Undeveloped Land		6,661			—			—			6,661			—				6,661			90	%

	Total Richardson Portfolio										9,771			31,511			4,189			45,471			(5,626		)		39,845

	Park Highlands		12/30/11		North Las Vegas		NV		Undeveloped Land		26,287			—			—			26,287			—				26,287			50.1	%

	Bellevue Technology Center		7/31/12		Bellevue		WA		Office		25,506			50,059			3,813			79,378			(3,188		)		76,190			100	%

	Powers Ferry Landing East		9/24/12		Atlanta		GA		Office		1,642			5,289			204			7,135			(298		)		6,837			100	%

	1800 West Loop		12/4/12		Houston		TX		Office		8,360			56,168			5,709			70,237			(3,678		)		66,559			100	%

	West Loop I & II		12/7/12		Houston		TX		Office		7,300			27,903			3,593			38,796			(2,697		)		36,099			100	%

	Burbank Collection		12/12/12		Burbank		CA		Retail		4,175			7,765			1,076			13,016			(490		)		12,526			90	%

	Austin Suburban Portfolio		3/28/13		Austin		TX		Office		8,288			64,178			5,221			77,687			(3,627		)		74,060			100	%

	Westmoor Center		6/12/13		Westminster		CO		Office		10,058			63,566			10,117			83,741			(3,231		)		80,510			100	%

	Central Building		7/10/13		Seattle		WA		Office		7,015			23,848			2,364			33,227			(742		)		32,485			100	%

50 Congress Street		7/11/13		Boston		MA		Office		9,876			39,813			3,842			53,531			(1,543		)		51,988			100	%

1180 Raymond		8/20/13		Newark		NJ		Apartment		8,292			35,643			2,733			46,668			(1,716		)		44,952			100	%

Park Highlands II		12/10/13		North Las Vegas		NV		Undeveloped Land		20,285			—			—			20,285			—				20,285			99.5	%

Maitland Promenade II		12/18/13		Orlando		FL		Office		3,434			22,470			4,812			30,716			(83		)		30,633			100	%

										$	159,918		$	460,088		$	48,012		$	668,018		$	(29,859	)		$	638,159

_____________________
(1) Amounts are net of impairment charges. See “—Impairment of Real Estate” below.
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 December 31, 2013, the leases, excluding options to extend, had remaining terms of up to 11.8 years with a weighted-average remaining term of 3.7 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 December 31, 2013 and December 31, 2012, respectively.
During the years ended December 31, 2013, 2012 and 2011, the Company recognized deferred rent from tenants of $4.6 million, $1.8 million and $0.2 million, respectively, net of lease incentive amortization. As of December 31, 2013 and 2012, the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $7.8 million and $2.2 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 December 31, 2013, the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands):


2014	$	51,770

2015	51,340

2016	44,544

2017	34,405

2018	25,775

Thereafter	45,638

	$	253,472

As of December 31, 2013, the Company had approximately 400 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows:


Industry		Number of		Annualized				Percentage of
		Tenants		Base Rent (1)				Annualized
				(in thousands)				Base Rent
Insurance		23		$	6,803			11.1	%

Professional, Scientific and Legal		47		6,672				10.8	%

Finance		30		6,300				10.2	%

				$	19,775			32.1	%

_____________________
(1) Annualized base rent represents annualized contractual base rental income as of December 31, 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 December 31, 2013, the Company’s real estate investments in Texas, Washington and Colorado represented 27.9%, 14.0% and 10.8% 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.
Impairment of Real Estate
Due to changes in cash flow estimates, the Company has recognized non-cash impairment charges to write-down the carrying value of certain of its real estate investments to their estimated fair values. During the year ended December 31, 2013, the Company recorded an aggregate impairment charge of $1.4 million, which includes an impairment charge of $0.5 million on the Village Overlook Buildings and an impairment charge of $0.9 million on Academy Point Atrium I. These impairments resulted from changes in leasing projections due to longer estimated lease-up periods, resulting in a decrease to the projected cash flows the properties were expected to generate.

TENANT_ORIGINATION_AND_ABSORPT

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	12 Months Ended
	Dec. 31, 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 December 31, 2013 and 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
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012			2013			2012
	Cost	$	48,012		$	21,409		$	4,394		$	3,179		$	(5,955	)	$	(2,157	)
	Cost	$	48,012		$	21,409		$	4,394		$	3,179		$	(5,955	)	$	(2,157	)
	Accumulated Amortization	(10,751		)	(2,777		)	(1,459		)	(895		)	1,535			126
	Accumulated Amortization	(10,751		)	(2,777		)	(1,459		)	(895		)	1,535			126
	Net Amount	$	37,261		$	18,632		$	2,935		$	2,284		$	(4,420	)	$	(2,031	)
	Net Amount	$	37,261		$	18,632		$	2,935		$	2,284		$	(4,420	)	$	(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 years ended December 31, 2013, 2012 and 2011 are as follows (in thousands):


		Tenant Origination and									Above-Market									Below-Market
		Absorption Costs									Lease Assets									Lease Liabilities
		For the Years Ended December 31,									For the Years Ended December 31,									For the Years Ended December 31,
		2013			2012			2011			2013			2012			2011			2013		2012		2011
	Amortization	$	(10,942	)	$	(3,689	)	$	(1,644	)	$	(1,456	)	$	(1,095	)	$	(574	)	$	1,565	$	229	$	39
	Amortization	$	(10,942	)	$	(3,689	)	$	(1,644	)	$	(1,456	)	$	(1,095	)	$	(574	)	$	1,565	$	229	$	39
	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2013 will be amortized for the years ending December 31 as follows (in thousands):


		Tenant			Above-Market			Below-Market
		Origination and			Lease Assets			Lease Liabilities
		Absorption Costs
	2014	$	(11,965	)	$	(1,012	)	$	1,683
	2014	$	(11,965	)	$	(1,012	)	$	1,683
	2015	(8,857		)	(736		)	1,160
	2015	(8,857		)	(736		)	1,160
	2016	(6,405		)	(552		)	700
	2016	(6,405		)	(552		)	700
	2017	(4,002		)	(309		)	376
	2017	(4,002		)	(309		)	376
	2018	(2,418		)	(154		)	185
	2018	(2,418		)	(154		)	185
	Thereafter	(3,614		)	(172		)	316
	Thereafter	(3,614		)	(172		)	316
		$	(37,261	)	$	(2,935	)	$	4,420
		$	(37,261	)	$	(2,935	)	$	4,420
	Weighted-Average Remaining Amortization Period	4.4 years			3.9 years			3.8 years

REAL_ESTATE_LOANS_RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	12 Months Ended
REAL ESTATE LOANS RECEIVABLE	Dec. 31, 2013
Receivables [Abstract]	'
REAL ESTATE LOANS RECEIVABLE	'
	REAL ESTATE LOANS RECEIVABLE
	As of December 31, 2013 and 2012, the Company, through wholly owned subsidiaries, had invested in or originated outstanding real estate loans receivable as set forth below (dollars in thousands):



	Loan Name		Date Acquired/ Originated		Property Type	Loan Type		Outstanding Principal Balance as of December 31, 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 December 31, 2013 (2)
	Collateral
	University House First Mortgage
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000			$	21,893	—		11.00%	13.00%	4/1/14
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000			$	21,893	—		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			$	21,893	$	71,906
								$	22,000			$	21,893	$	71,906
	_____________________
	(1) Outstanding principal balance as of December 31, 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 December 31, 2013.
	(4) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure”.
	(5) 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 the earliest prepayment date allowable in accordance with the loan agreement. The exit fee and additional interest are included in interest income from real estate loans receivable in the accompanying consolidated statements of operations.
	The following summarizes the activity related to the real estate loans receivable for the year ended December 31, 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	842
		842
	Real estate loans receivable - December 31, 2013	$	21,893
	Real estate loans receivable - December 31, 2013	$	21,893
	For the years ended December 31, 2013, 2012 and 2011 interest income from real estate loans receivable consisted of the following (in thousands):


			2013			2012				2011
	Contractual interest income		$	8,248		$	1,202			$	311
	Contractual interest income		$	8,248		$	1,202			$	311
	Interest accretion		1,186			454				—
	Interest accretion		1,186			454				—
	Accretion of closing costs and origination fees, net		842			52				—
	Accretion of closing costs and origination fees, net		842			52				—
	Interest income from real estate loans receivable		$	10,276		$	1,708			$	311
	Interest income from real estate loans receivable		$	10,276		$	1,708			$	311

REAL_ESTATE_SECURITIES

REAL ESTATE SECURITIES	12 Months Ended
	Dec. 31, 2013
Real Estate Securities [Abstract]	'
REAL ESTATE SECURITIES	'
	REAL ESTATE SECURITIES
	As of December 31, 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%		333			342	(9	)	333

	As of December 31, 2013, the Company determined the fair value of the fixed rate CMBS to be $0.3 million, resulting in unrealized gains of $4,000 for the year ended December 31, 2013. During the year ended December 31, 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 year ended December 31, 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	(4,452		)		—				(4,452		)

	Unrealized gains	—				4				4

	Amortization of premium on securities	(36		)		—				(36		)

	Real estate securities - December 31, 2013	$	342			$	(9	)		$	333

REAL_ESTATE_HELD_FOR_SALE_AND_

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS	12 Months Ended
	Dec. 31, 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 industrial/flex building and four parcels of partially improved land encompassing 6.0 acres. During the year ended December 31, 2013, the Company disposed of three office buildings and one industrial/flex property. The following table summarizes operating income from discontinued operations for the years ended December 31, 2013, 2012 and 2011 (in thousands):


		Years Ended December 31,
		2013				2012			2011
	Total revenues and other income	$	1,387			$	1,029		$	377

	Total expenses	2,754				2,645			560

	Loss from discontinued operations before gain on sales of real estate	(1,367		)		(1,616		)	(183		)
	Gain on sales of real estate, net	13,108				593			—

	Income (loss) from discontinued operations	$	11,741			$	(1,023	)	$	(183	)

	As of December 31, 2013, the Company had no real estate held for sale. The following summary presents the major components of real estate held for sale and liabilities related to real estate held for sale as of December 31, 2012 (in thousands):


			31-Dec-12
	Assets related to real estate held for sale
	Total real estate, at cost		$	18,508

	Accumulated depreciation and amortization		(906		)
	Real estate held for sale, net		17,602

	Other assets		916

	Total assets		$	18,518

	Liabilities related to real estate held for sale
	Notes payable		4,340

	Total liabilities		$	4,340

NOTES_AND_BOND_PAYABLE

NOTES AND BOND PAYABLE	12 Months Ended
	Dec. 31, 2013
Notes and Bonds Payable [Abstract]	'
NOTES AND BOND PAYABLE	'
	NOTES AND BOND PAYABLE
	As of December 31, 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 December 31, 2013 (1)	Effective Interest Rate at December 31, 2013 (1)	Payment Type	Maturity
		31-Dec-13							Date (2)
	Richardson Portfolio Mortgage Loan (3)	$	31,566	$	33,751	(3)	6.25%	Interest Only	11/30/15

	Bellevue Technology Center Mortgage Loan (4)	47,408		—		One-Month LIBOR + 2.25%	2.42%	Interest Only	3/1/17

	Portfolio Revolving Loan Facility (5)	3,379		—		One-Month LIBOR + 2.25%	2.42%	Interest Only	5/1/17

	Portfolio Mortgage Loan (6)	82,766		—		One-Month LIBOR + 2.50%	2.67%	Interest Only	7/1/17

	1635 N. Cahuenga Mortgage Loan (7)	4,650		—		One-Month LIBOR + 2.35%	2.52%	Interest Only	8/1/16

	Burbank Collection Mortgage Loan (8)	8,200		—		One-Month LIBOR + 2.35%	2.54%	Interest Only	9/30/16

	50 Congress Mortgage Loan (9)	26,535		—		One-Month LIBOR + 1.90%	2.07%	Interest Only	10/1/17

	1180 Raymond Bond Payable (10)	7,085		—		6.50%	6.50%	Principal	9/1/36
								& Interest
	Central Building Mortgage Loan (11)	24,100		—		One-Month LIBOR + 1.75%	1.92%	Interest Only	11/13/18

	Maitland Promenade II Mortgage Loan (12)	20,182		—		One-Month LIBOR + 2.90%	3.25%	Interest Only	1/1/17

	Total Notes and Bond Payable principal outstanding	255,871		33,751

	Premium on Bond Payable, net (13)	1,549		—

	Total Notes and Bond Payable, net	$	257,420	$	33,751

	_____________________
	(1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2013. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at December 31, 2013, where applicable.
	(2) Represents the initial maturity date or the maturity date as extended as of December 31, 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 December 31, 2013, the outstanding principal balance was $31.6 million and $8.3 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 December 31, 2013, $47.4 million had been disbursed to the Company and the remaining $5.6 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 December 31, 2013, $3.4 million of the non-revolving debt had been disbursed to the Company and the remaining $59.5 million of revolving debt and $9.6 million of non-revolving debt is available for future disbursements, subject to certain conditions contained in the loan documents. 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”). On October 31, 2013, the Company sold two buildings in the Power Ferry Landing East property and repaid $2.8 million. In addition, the Portfolio Mortgage Loan borrowing capacity was reduced to $107.6 million, comprised of $77.8 million of revolving debt and the remaining $29.8 million of non-revolving debt available for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of December 31, 2013, $82.8 million had been disbursed to the Company with the remaining $24.8 million of non-revolving debt available for future disbursements, 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) 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 Company owns a 70% equity interest in the joint venture that owns the 1635 N. Cahuenga Building. As of December 31, 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. Monthly payments are initially interest only. 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.
	(8) 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 Company owns a 90% equity interest in the joint venture that owns the Burbank Collection. As of December 31, 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. Monthly payments are interest only.
	(9) 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. As of December 31, 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. 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.
	(10) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure.”
	(11) On November 13, 2013, the Company, through an indirect wholly owned subsidiary, entered into a five-year secured mortgage loan with an unaffiliated lender for borrowings of up to $27.6 million secured by the Central Building. As of December 31, 2013, $24.1 million of the Central Building Mortgage Loan was funded, the remaining $3.5 million is 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 interest only.
	(12) On December 31, 2013, the Company, through an indirect wholly owned subsidiary, entered into a three-year secured mortgage loan with an unaffiliated lender for borrowings of up to $23.0 million secured by Maitland Promenade II. As of December 31, 2013, $20.2 million of the Maitland Promenade II Mortgage Loan was funded, the remaining $2.8 million is 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. Interest on the loan is calculated at a variable annual rate of 290 basis points over one-month LIBOR, but at no point shall the interest rate be less than 3.25%. Beginning February 1, 2016, monthly payments will include principal and interest with principal payments calculated using an amortization schedule of 30 years. Monthly payments are initially interest only.
	(13) 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 years ended December 31, 2013, 2012 and 2011, the Company incurred $2.7 million, $2.2 million and $0.3 million of interest expense, respectively. Included in interest expense for the years ended December 31, 2013, 2012 and 2011, was $0.7 million, $0.3 million and $21,000 of amortization of deferred financing costs, respectively. Additionally, during the year ended December 31, 2013, the Company capitalized $2.7 million of interest to our investments in undeveloped land. As of December 31, 2013 and 2012, the Company’s deferred financing costs were $5.0 million and $0.7 million, respectively, net of amortization. As of December 31, 2013 and 2012, the Company’s interest payable was $0.5 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 December 31, 2013 (in thousands):


	2014	$	140

	2015	31,751

	2016	14,991

	2017	178,429

	2018	24,280

	Thereafter	6,280

		$	255,871

The Company’s notes payable contain financial debt covenants. As of December 31, 2013, the Company was in compliance with all of these debt covenants.

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 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 investment, which is 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 value 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 December 31, 2013 and December 31, 2012, which carrying amounts do not approximate the fair values (in thousands):


			31-Dec-13									31-Dec-12
			Face Value			Carrying Amount			Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loans receivable		$	22,000		$	21,893		$	22,000		$	92,334	$	71,906	$	70,750

	Financial liabilities:
	Notes and bond payable		$	255,871		$	257,420		$	258,876		$	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 year ended December 31, 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	$	333		$	—		$	333		$	—

	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
	Impaired real estate held for investment	$	4,700		$	—		$	—		$	4,700

	_____________________
	(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%.
	As of December 31, 2013, two of the Company’s real estate properties held for investment were measured at fair value as these properties were impaired and the carrying values of the properties were adjusted to fair value. The Company estimated the fair value for the two impaired real estate properties held for investment by performing a 10-year discounted cash flow analysis. These two properties had significant vacancies and the terminal capitalization rates and discount rates used to estimate the fair value of both properties were 9.0% and 10.0%, respectively.

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 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 KBS Strategic Opportunity REIT II, Inc.
	On January 6, 2014, the Company, together with KBS REIT I, KBS REIT II, KBS REIT III, KBS Legacy Partners Apartment REIT, KBS Strategic Opportunity REIT II, the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the plan, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance.
	During the years ended December 31, 2013, 2012 and 2011, no other transactions occurred between the Company and the 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, as described in Note 12. 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 years ended December 31, 2013, 2012 and 2011, respectively, and any related amounts payable as of December 31, 2013 and December 31, 2012 (in thousands):


		Incurred						Payable as of
								December 31,
		2013		2012		2011		2013		2012
	Expensed
	Asset management fees (1)	$	4,173	$	1,710	$	328	$	—	$	—

	Real estate acquisition fees	2,784		2,206		460		—		—

	Reimbursable operating expenses (2)	139		118		60		—		21

	Disposition fees	322		21		—		—		—


	Additional Paid-in Capital
	Selling commissions	—		20,683		9,431		—		—

	Dealer manager fees	—		10,451		4,893		—		—

	Reimbursable other offering costs	—		1,825		2,450		—		—


	Capitalized
	Acquisition and origination fees on real estate loans receivable	220		790		199		—		—

	Acquisition fee on undeveloped land	199		—		106		—		—

		$	7,837	$	37,804	$	17,927	$	—	$	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 $134,000, $103,000 and 60,000 for the years ended December 31, 2013, 2012 and 2011, 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.

INVESTMENT_IN_UNCONSOLIDATED_J

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES

As of December 31, 2013 and 2012, the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands):

Investment Balance at December 31,

Joint Venture

Number of Properties

Location

Ownership %

2013

2012

NIP Joint Venture

Various

Less than 5.0%

7,484

7,926

110 William Joint Venture

N/A

60.00%

8,854

—

16,338

7,926

Investment in National Industrial Portfolio Joint Venture

On May 18, 2012, the Company, through an indirect wholly owned subsidiary, entered into a joint venture (the “NIP Joint Venture”) with OCM NIP JV Holdings, L.P. and HC KBS NIP JV, LLC (“HC-KBS”). The NIP Joint Venture owns 23 industrial properties and a master lease with respect to another industrial property encompassing 11.4 million square feet. The Company made an initial capital contribution of $8.0 million which represents less than a 5.0% ownership interest in the NIP Joint Venture as of December 31, 2013. The Company does not exercise any significant influence over the NIP Joint Venture’s operations, financial policies or decision making. Accordingly, the Company has accounted for its investment in the NIP Joint Venture under the cost method of accounting. Income, losses and distributions from the NIP Joint Venture are generally allocated among the members based on their respective equity interests.

KBS REIT I, an affiliate of the Advisor, is a member of HC-KBS and has a participation interest in certain future potential profits generated by the NIP Joint Venture. However, KBS REIT I does not have any equity interest in the NIP Joint Venture. None of the other joint venture partners are affiliated with the Company or the Advisor.

As of December 31, 2013, the book value of the Company’s investment in the NIP Joint Venture was $7.5 million. During the year ended December 31, 2013, the Company recognized $0.1 million of income distributions and $0.4 million of return of capital from the NIP Joint Venture. During the year ended December 31, 2012, the Company recognized $0.1 million of income distributions and $0.1 million of return of capital from the NIP Joint Venture.

Investment in 110 William Joint Venture

On December 23, 2013, the Company, through an indirect wholly owned subsidiary, entered into an agreement with SREF III 110 William JV, LLC (the “110 William JV Partner”) to form a joint venture (the “110 William Joint Venture”). Prior to entering into the 110 William Joint Venture, an affiliate of the 110 William JV Partner entered into a purchase and sale agreement to acquire an office property containing 928,157 rentable square feet located on approximately 0.8 acres of land in New York, New York (“110 William Street”), and on December 23, 2013, such affiliate of the 110 William JV Partner assigned the purchase and sale agreement to the 110 William Joint Venture. On December 23, 2013, the Company contributed $9.0 million to the 110 William Joint Venture, which reflects the Company’s portion of the initial $15.0 million deposit due under the purchase and sale agreement. Each of the Company and the 110 William JV Partner hold a 60% and 40% ownership interest in the 110 William Joint Venture, respectively. The Company exercises significant influence over the operations, financial policies and decision making with respect to the 110 William Joint Venture but does not have a controlling financial interest. Accordingly, the Company has accounted for its investment in the 110 William Joint Venture under the equity method of accounting.

As of December 31, 2013, the book value of the Company’s investment in the 110 William Joint Venture was $8.9 million. During the year ended December 31, 2013, the Company recognized an equity in loss of unconsolidated joint venture of $0.1 million related to its share of certain general and administrative expenses incurred by the 110 William Joint Venture.

PRO_FORMA_FINANCIAL_INFORMATIO

PRO FORMA FINANCIAL INFORMATION	12 Months Ended
	Dec. 31, 2013
Business Acquisition, Pro Forma Information [Abstract]	'
PRO FORMA FINANCIAL INFORMATION	'
	PRO FORMA FINANCIAL INFORMATION (UNAUDITED)
	The following table summarizes, on an unaudited pro forma basis, the combined results of operations of the Company for the years ended December 31, 2013 and 2012. The Company acquired one office portfolio consisting of three office properties and four separate office properties during the year ended December 31, 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 years ended December 31, 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 Years Ended December 31,
		2013		2012
	Revenues	$	78,935	$	43,766

	Depreciation and amortization	32,723		$	15,002

	Net income (loss) attributable to common stockholders	14,348		$	(6,431	)

	Net income (loss) per common share, basic and diluted	0.24		$	(0.11	)

	Weighted-average number of common shares outstanding, basic and diluted	59,619,000		58,836,153

	The unaudited pro forma information for the year ended December 31, 2013 was adjusted to exclude $2.8 million of acquisition costs incurred in 2013 in connection with the acquisitions of the above properties.

SELECTED_QUARTERLY_FINANCIAL_D

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	'
	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)
	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2013 and 2012 (in thousands, except per share amounts):


		2013
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	10,463		$	14,361		$	23,281		$	20,391

	Net income (loss)	$	1,741		$	(2,429	)	$	7,260		$	5,017

	Net income (loss) attributable to common stockholders	$	1,411		$	(2,343	)	$	7,344		$	5,081

	Net income (loss) per common share, basic and diluted	$	0.02		$	(0.04	)	$	0.13		$	0.09

	Distributions declared per common share (1)	$	0.062		$	—		$	—		$	0.38



		2012
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	3,430		$	3,166		$	4,509		$	7,775

	Net loss	$	(705	)	$	(2,808	)	$	(3,660	)	$	(2,922	)
	Net loss attributable to common stockholders	$	(783	)	$	(2,710	)	$	(3,499	)	$	(2,770	)
	Net loss per common share, basic and diluted	$	(0.03	)	$	(0.09	)	$	(0.10	)	$	(0.05	)
	Distributions declared per common share (1)	$	0.023		$	0.025		$	0.352		$	—

	_____________________
	(1) On February 13, 2012, the Company’s board of directors authorized a distribution in the amount of $0.02309337 per share of common stock to stockholders of record as of the close of business on February 14, 2012. The Company paid this distribution on February 17, 2012. On April 16, 2012, the Company’s board of directors authorized a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on April 16, 2012. The Company paid this distribution on April 30, 2012. On July 20, 2012, the Company’s board of directors authorized a distribution in the amount of $0.35190663 per share of common stock to stockholders of record as of the close of business on July 20, 2012. The Company paid this distribution on July 31, 2012. On March 20, 2013, our board of directors authorized a distribution in the amount of $0.06153498 per share of common stock to stockholders of record as of the close of business on March 22, 2013. The Company paid this distribution on April 4, 2013. On November 11, 2013, our board of directors authorized a distribution in the amount of $0.38 per share of common stock to stockholders of record as of the close of business on November 13, 2013. The Company paid this distribution on December 5, 2013. Investors could choose to receive cash distributions or purchase additional shares under the dividend reinvestment plan.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 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 December 31, 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	12 Months Ended
	Dec. 31, 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):


		For the Year Ended December 31,
		2013			2012			2011
	Numerator
	Loss from continuing operations	$	(152	)	$	(9,072	)	$	(7,616	)
	Loss from continuing operations attributable to noncontrolling interests	302			232			216

	Income (loss) from continuing operations attributable to common stockholders	150			(8,840		)	(7,400		)

	Total income (loss) from discontinued operations	11,741			(1,023		)	(183		)

	Total (income) loss from discontinued operations attributable to noncontrolling interests	(398		)	101			2

	Total income (loss) from discontinued operations attributable to common stockholders	11,343			(922		)	(181		)

	Net income (loss) attributable to common stockholders	$	11,493		$	(9,762	)	$	(7,581	)


	Denominator
	Weighted-average number of common shares outstanding, basic and diluted	58,359,568			35,458,656			11,432,823


	Basic and diluted income (loss) per common share:
	Continuing operations	$	—		$	(0.25	)	$	(0.65	)

	Discontinued operations	0.2			(0.03		)	(0.01		)

	Net income (loss) per common share	$	0.2		$	(0.28	)	$	(0.66	)

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
SUBSEQUENT EVENTS	'
	SUBSEQUENT EVENTS
	Investments and Financings Subsequent to December 31, 2013
	Westmoor Center First Mortgage Loan
	On January 8, 2014, 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 $62.0 million secured by Westmoor Center (the “Westmoor Center Mortgage Loan”). On January 8, 2014, $54.9 million of the Westmoor Center Mortgage Loan was funded and the remaining $7.1 million is available for future disbursements to be used for tenant improvements and leasing commissions, subject to certain terms and conditions contained in the loan documents. The Westmoor Center Mortgage Loan matures on February 1, 2018, with an option to extend the maturity date to February 1, 2019, subject to certain other terms and conditions contained in the loan documents. The Westmoor Center Mortgage Loan bears interest at a floating rate of 225 basis points over one-month LIBOR. Monthly payments are initially interest only. Beginning March 1, 2017, monthly payments include principal and interest with principal payments calculated using an amortization schedule of 30 years and an annual interest rate of 6.5% with the remaining principal balance and all accrued and unpaid interest and fees due at maturity. The Company will have the right to prepay the loan in whole at any time or in part from time to time, subject to the payment of certain losses or 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 Westmoor Center 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 Westmoor Center Mortgage Loan in the event of certain bankruptcy or insolvency proceedings involving the borrower.
	Acquisition of the Plaza Buildings
	On January 14, 2014, Company, through an indirect wholly owned subsidiary (the “Plaza Buildings Owner”), acquired from Plaza Center Property LLC an office property consisting of two office buildings and 490,096 rentable square feet located on approximately 4.1 acres of land in Bellevue, Washington (the “Plaza Buildings”). The seller is not affiliated with the Company or the Advisor. The purchase price of the Plaza Buildings was $186.5 million plus closing costs. The Company funded the purchase of the Plaza Buildings with proceeds from the Plaza Building Mortgage Loan (discussed below), proceeds from the Plaza Buildings Mezzanine Loan (discussed below) and cash on hand. The Company has yet to allocate the purchase price of the property to the fair value of the tangible assets and identifiable intangible assets and liabilities.
	The Plaza Buildings were built in 1978 and 1983 and renovated in 2007. At acquisition, the Plaza Buildings were 81% leased to 52 tenants.
	Plaza Buildings Mortgage Loan
	On January 14, 2014, in connection with the Company’s acquisition of the Plaza Buildings, the Plaza Buildings Owner entered into a three-year secured mortgage loan with an unaffiliated lender for borrowings of up to $111.0 million secured by the Plaza Buildings (the “Plaza Buildings Mortgage Loan”). On January 14, 2014, $108.0 million of the Plaza Buildings Mortgage Loan was funded and the remaining $3.0 million is available for future disbursements to be used for tenant improvements and leasing commissions, subject to certain terms and conditions contained in the loan documents. The Plaza Buildings Mortgage Loan matures on January 14, 2017, with two options to extend the maturity date to January 14, 2018 and January 14, 2019, subject to certain other terms and conditions contained in the loan documents. The Plaza Buildings Mortgage Loan bears interest at a floating rate of 190 basis points over one-month LIBOR. Monthly payments are initially interest only. Beginning with the February 2016 payment, monthly payments will include principal and interest, with principal payments calculated using an amortization schedule of 30 years and an annual interest rate of 6.5%. Any remaining principal balance and all accrued and unpaid interest and fees will be due at maturity. The Plaza Buildings Owner will have the right to prepay the loan in whole at any time or in part from time to time, subject to the payment of an exit fee for prepayments made prior to July 14, 2015 and subject to certain other conditions contained in the loan documents.
	KBS SOR Properties provided a limited guaranty of the Plaza Buildings Mortgage Loan with respect to certain potential deficiencies, losses or damages suffered by the lender resulting from certain intentional acts committed by the Plaza Buildings Owner, KBS SOR Properties, the Company or its affiliates 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 Plaza Buildings Mortgage Loan in the event of certain bankruptcy or insolvency proceedings involving the borrower.
	Plaza Buildings Mezzanine Loan
	On January 14, 2014, in connection with the Company’s acquisition of the Plaza Buildings, through an indirect wholly owned subsidiary which owns the equity interests in the Plaza Buildings Owner, the Company entered into a three-year mezzanine loan with an unaffiliated lender for borrowings of up to $30.0 million secured by the equity interests in the Plaza Buildings Owner (the “Plaza Buildings Mezzanine Loan”). On January 14, 2014, $25.0 million of the Plaza Buildings Mezzanine Loan was funded and the remaining $5.0 million is available for future disbursements to be used for tenant improvements and leasing commissions, subject to certain terms and conditions contained in the loan documents. The Plaza Buildings Mezzanine Loan matures on January 14, 2017, with two options to extend the maturity date to January 14, 2018 and January 14, 2019, subject to the concurrent extension of the Plaza Building Mortgage Loan and certain other terms and conditions contained in the loan documents. The Plaza Buildings Mezzanine Loan bears interest at a floating rate of 785 basis points over one-month LIBOR. The Company may have the right to prepay the Plaza Buildings Mezzanine Loan under certain circumstances and subject to certain conditions contained in the loan documents. Prepayments made prior to July 14, 2015 will be subject to the payment of an exit fee.
	KBS SOR Properties provided a limited guaranty of the Plaza Buildings Mezzanine Loan with respect to certain potential deficiencies, losses or damages suffered by the lender resulting from certain intentional acts committed by the borrower, KBS SOR Properties, the Plaza Buildings Owner, the Company or its affiliates 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 Plaza Buildings Mezzanine Loan in the event of certain bankruptcy or insolvency proceedings involving the borrower.
	Entry into Joint Venture and Joint Venture Acquisition of 424 Bedford
	On November 12, 2013, the Company, through an indirect wholly owned subsidiary, and EE 424 Bedford OM, LLC (the “JV Member”) entered into an agreement to form a joint venture (the “424 Bedford Joint Venture”), and on January 31, 2014, the 424 Bedford Joint Venture acquired an apartment building containing 66 units in Brooklyn, New York (“424 Bedford”). 424 Bedford was built in 2010 and was 97% leased at acquisition.
	The purchase price for 424 Bedford was $39.8 million. The 424 Bedford Joint Venture funded the purchase through the assumption of $26.3 million in debt (the “424 Bedford Mortgage Loan”) and contributions by the Company and the JV Member to the 424 Bedford Joint Venture. The 424 Bedford Mortgage Loan bears interest at a fixed rate of 3.91% and matures on October 1, 2022. Monthly payments include principal and interest with principal payments calculated using an amortization schedule of 30 years. None of the JV Member, the seller of 424 Bedford, or the lender under the 424 Bedford Mortgage Loan is affiliated with the Company or the Advisor. The Company has yet to allocate the purchase price of the property to the fair value of the tangible assets and identifiable intangible assets and liabilities.
	The Company owns a 90% equity interest in the 424 Bedford Joint Venture. The JV Member is the managing member of the 424 Bedford Joint Venture; however, its authority is limited, as the Company, as co-managing member, must give approval for any major decisions involving the 424 Bedford Joint Venture or 424 Bedford. Income, losses and distributions are generally allocated among the members based on their respective equity interests.
	Anticipated Date of Estimated Value Per Share
	On February 14, 2014, the Company’s board of directors met to discuss the timing and process for determining an estimated value per share not based on the price to acquire a share in the primary portion of our initial public offering (the “Estimated Value Per Share”). The Company expects the Estimated Value Per Share to be determined, approved and publicly disclosed on or about March 27, 2014.
	Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program
	In connection with the upcoming determination of the Estimated Value Per Share, on February 14, 2014, the board of directors also approved a Fourth Amended and Restated Share Redemption Program (the “Fourth SRP”) to replace the previous Third Amended and Restated Share Redemption Program (the “Third SRP”). The material changes made in the Fourth SRP are discussed below. The Fourth SRP will become effective on March 20, 2014.
	The board of directors believes that, following the adoption and disclosure of the Estimated Value Per Share, which is expected to occur on or about March 27, 2014, it is important to allow stockholders sufficient time to make decisions about redemption requests. Accordingly, the Fourth SRP will be temporarily suspended for one month in connection with the disclosure of the Estimated Value Per Share. Specifically, the Fourth SRP will be suspended with respect to redemptions that would normally occur on the last business day of March 2014, with all such redemption requests to be retained and, unless withdrawn, considered submitted for redemption on the last business day of April 2014. This temporary one-month suspension will not affect the amount of redemptions that are permitted under the Fourth SRP.
	All redemption requests received after February 21, 2014 will be eligible for redemption pursuant to the terms of the Fourth SRP on April 30, 2014. As stated above, the Company expects the Estimated Value Per Share to be determined and publicly disclosed on or about March 27, 2014, which will affect the redemption prices that stockholders receive under the Fourth SRP.
	The following is a summary of the material changes made in the Fourth SRP:
	The Fourth SRP provides that, except for redemptions made upon a stockholder’s death, “qualifying disability” or “determination of incompetence,” the prices at which the Company will redeem shares are as follows:

	•	92.5% of the Company’s most recent estimated value per share as of the applicable redemption date for those shares held for at least one year;

	•	95.0% of the Company’s most recent estimated value per share as of the applicable redemption date for those shares held for at least two years;

	•	97.5% of the Company’s most recent estimated value per share as of the applicable redemption date for those shares held for at least three years; and

	•	100% of the Company’s most recent estimated value per share as of the applicable redemption date for those shares held for at least four years.
	Until the Company announces in a public filing with the SEC the establishment of an estimated value per share that is not based on the price to purchase a share of its common stock in a primary public offering, the estimated value per share will be $10.00 for purposes of the foregoing prices.
	The Fourth SRP also provides that the time period during which a stockholder will be deemed to have held each share begins as of the date the stockholder acquired such share; provided, that shares purchased pursuant to the DRP will be deemed to have been acquired on the same date as the initial share to which the DRP share relates. The date of the share’s original issuance by the Company is not determinative. Shares owned by a stockholder may be redeemed at different prices depending on how long the stockholder has held each share submitted for redemption.
	The Fourth SRP also amends the provisions related to the limitation of redemptions to the amount of net proceeds from the sale of shares under the DRP during the prior calendar year. First, the Company may increase or decrease this funding limit, without amending the Fourth SRP, by providing ten business days’ notice to its stockholders. Notice may be provided to stockholders (a) in a Current Report on Form 8-K or in our annual or quarterly reports, all publicly filed with the SEC, or (b) in a separate mailing to stockholders. Second, redemption requests in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” will now be satisfied from the funds available from the net proceeds from the sale of shares under the DRP during the prior calendar year. During any calendar year, once the Company has redeemed shares under the Fourth SRP, including shares redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence,” such that the amount of remaining funds available for redemption of additional shares in that calendar year is $1.0 million, such remaining $1.0 million shall be reserved exclusively for shares being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence.” The Fourth SRP continues to include other limitations, including that during any calendar year, in no event may the Company redeem more than 5% of the weighted-average number of shares outstanding during the prior calendar year.
	The Fourth SRP provides that, in the event of a suspension of the Fourth SRP, the Company will treat all unsatisfied redemption requests as requests for redemption on the next date upon which shares may be redeemed after the Fourth SRP is no longer suspended.
	Distribution Declared
	On March 6, 2014, the Company's board of directors authorized a distribution in the amount of $0.04931507 per share of common stock, or an annualized rate of 2% based on a purchase price of $10.00 per share, to stockholders of record as of the close of business on March 31, 2014. The Company expects to pay this distribution on April 15, 2014. The distribution will be paid in cash or, for investors enrolled in the Company’s dividend reinvestment plan, reinvested in additional shares. The board of directors will declare distributions from time to time based on the Company’s income, cash flow and investing and financing activities. As such, the Company can also give no assurances as to the timing, amount or notice with respect to any other future distribution declarations.

SCHEDULE_III_REAL_ESTATE_ASSET

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	12 Months Ended
	Dec. 31, 2013
Real Estate and Accumulated Depreciation Disclosure [Abstract]	'
SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	'
	SCHEDULE III
	REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION
	31-Dec-13
	(dollar amounts in thousands)


										Initial Cost to Company									Gross Amount at which Carried at Close of Period
	Description		Location		Ownership Percent		Encumbrances			Land		Building and Improvements (1)		Total		Cost Capitalized Subsequent to Acquisition (2)			Land		Building and Improvements (1)		Total (3)		Accumulated Depreciation and Amortization			Original Date of Construction	Date
																													Acquired or Foreclosed on
	Properties Held for Investment
	Village Overlook Buildings		Stockbridge, GA		100.00%		$	—		$	440	$	1,332	$	1,772	$	(498	)	$	322	$	952	$	1,274	$	—		1993	8/2/10

	Academy Point Atrium I		Colorado Springs, CO		100.00%		—			1,650		1,223		2,873		427			1,291		2,009		3,300		—			1981	11/3/10

	Northridge Center I & II		Atlanta, GA		100.00%		(6)			2,234		4,457		6,691		1,297			2,234		5,754		7,988		(626		)	1985/1989	3/25/11

	Iron Point Business Park		Folsom, CA		100.00%		(5)			2,671		16,576		19,247		2,266			2,670		18,843		21,513		(1,821		)	1999/2001	6/21/11

	1635 N. Cahuenga Building		Los Angeles, CA		70.00%		4,650			3,112		4,245		7,357		411			3,112		4,656		7,768		(493		)	1983	8/3/11

	Richardson Portfolio
	Palisades Central I		Richardson, TX		90.00%		(4)			1,037		8,628		9,665		1,789			1,037		10,417		11,454		(1,551		)	1980	11/23/11

	Palisades Central II		Richardson, TX		90.00%		(4)			810		17,117		17,927		1,218			810		18,335		19,145		(2,902		)	1985	11/23/11

	Greenway I		Richardson, TX		90.00%		(4)			561		1,170		1,731		1,010			561		2,180		2,741		(208		)	1983	11/23/11

	Greenway III		Richardson, TX		90.00%		(4)			702		4,083		4,785		685			702		4,768		5,470		(965		)	1983	11/23/11

	Undeveloped Land		Richardson, TX		90.00%		(4)			5,500		—		5,500		1,161			6,661		—		6,661		—			N/A	11/23/11

	Total Richardson Portfolio						31,566			8,610		30,998		39,608		5,863			9,771		35,700		45,471		(5,626		)

	Park Highlands		North Las Vegas, NV		50.10%		—			21,000		—		21,000		5,287			26,287		—		26,287		—			N/A	12/30/11

	Bellevue Technology Center		Bellevue, WA		100.00%		47,408			25,506		52,411		77,917		1,461			25,506		53,872		79,378		(3,188		)	1973-2000	7/31/12

	Powers Ferry Landing East		Atlanta, GA		100.00%		(6)			1,643		3,761		5,404		1,731			1,642		5,493		7,135		(298		)	1980/1982/1985	9/24/12

	1800 West Loop		Houston, TX		100.00%		(5)			8,360		59,292		67,652		2,585			8,360		61,877		70,237		(3,678		)	1982	12/4/12

	West Loop I & II		Houston, TX		100.00%		(6)			7,300		29,742		37,042		1,754			7,300		31,496		38,796		(2,697		)	1980/1981	12/7/12

	Burbank Collection		Burbank, CA		90.00%		8,200			4,175		8,799		12,974		42			4,175		8,841		13,016		(490		)	2008	12/12/12

	Austin Suburban Portfolio		Austin, TX		100.00%		(6)			8,288		67,745		76,033		1,654			8,288		69,399		77,687		(3,627		)	1985/1986/2000	3/28/13

	Westmoor Center		Westminster, CO		100.00%		—			10,058		73,510		83,568		173			10,058		73,683		83,741		(3,231		)	1998/1999	6/12/13

	Central Building		Seattle, WA		100.00%		24,100			7,015		26,124		33,139		88			7,015		26,212		33,227		(742		)	1907	7/10/13

	50 Congress Street		Boston, MA		100.00%		26,535			9,876		43,455		53,331		200			9,876		43,655		53,531		(1,543		)	1910/1915	7/11/13

	1180 Raymond		Newark, NJ		100.00%		7,085			8,292		37,651		45,943		725			8,292		38,376		46,668		(1,716		)	1929	8/20/13

	Park Highlands II		North Las Vegas, NV		99.50%		—			20,255		—		20,255		30			20,285		—		20,285		—			N/A	12/10/13

	Maitland Promenade II		Orlando, FL		100.00%		20,182			3,434		27,282		30,716		—			3,434		27,282		30,716		(83		)	2001	12/18/13

			Total Properties Held for Investment							$	153,919	$	488,603	$	642,522	$	25,496		$	159,918	$	508,100	$	668,018	$	(29,859	)

	____________________
	(1) Building and improvements include tenant origination and absorption costs.
(2) Costs capitalized subsequent to acquisition is net of write-offs of fully depreciated/amortized assets.
(3) The aggregate cost of real estate for federal income tax purposes was $687.6 million as of December 31, 2013.
(4) As of December 31, 2013, $31.6 million of debt was outstanding secured by the Richardson Portfolio.
(5) As of December 31, 2013, $3.4 million of debt was outstanding secured by 1800 West Loop and Iron Point Business Park.
(6) As of December 31, 2013, $82.8 million of debt was outstanding secured by Northridge Center I & II, Powers Ferry Landing East, West Loop I & II and the Austin Suburban Portfolio.
SCHEDULE III
REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (CONTINUED)
31-Dec-13
(dollar amounts in thousands)


		2013				2012			2011
Real Estate (1):
Balance at the beginning of the year		$	326,154			$	110,335		$	4,737

Acquisitions (2)		342,985				212,152			102,470

Improvements		24,670				8,284			3,896

Write-off of fully depreciated and fully amortized assets		(5,835		)		(3,360		)	(768		)
Impairments		(2,025		)		—			—

Sales		(17,931		)		(1,257		)	—

Balance at the end of the year		$	668,018			$	326,154		$	110,335


Accumulated depreciation and amortization (1):
Balance at the beginning of the year		$	8,521			$	2,583		$	190

Depreciation and amortization expense		28,956				9,305			3,161

Write-off of fully depreciated and fully amortized assets		(5,835		)		(3,360		)	(768		)
Impairments		(638		)		—			—

Sales		(1,145		)		(7		)	—

Balance at the end of the year		$	29,859			$	8,521		$	2,583

____________________
(1) Amounts include real estate held for sale.
(2) Acquisitions includes properties which the Company acquired through foreclosure on or to which it otherwise received title.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Principles of Consolidation and Basis of Presentation	'
	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.
	The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
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 prior periods.
Revenue Recognition, Real Estate	'
	The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is reasonably assured and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to:

	•	whether the lease stipulates how a tenant improvement allowance may be spent;

	•	whether the amount of a tenant improvement allowance is in excess of market rates;

	•	whether the tenant or landlord retains legal title to the improvements at the end of the lease term;

	•	whether the tenant improvements are unique to the tenant or general-purpose in nature; and

	•	whether the tenant improvements are expected to have any residual value at the end of the lease.
	The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred.
	The Company makes estimates of the collectibility of its tenant receivables related to base rents, including deferred rent, expense reimbursements and other revenue or income. Management specifically analyzes accounts receivable, deferred rents receivable, historical bad debts, customer creditworthiness, current economic trends and changes in customer payment terms when evaluating the adequacy of the allowance for doubtful accounts. In addition, with respect to tenants in bankruptcy, management makes estimates of the expected recovery of pre-petition and post-petition claims in assessing the estimated collectibility of the related receivable. In some cases, the ultimate resolution of these claims can exceed one year. When a tenant is in bankruptcy, the Company will record a bad debt reserve for the tenant’s receivable balance and generally will not recognize subsequent rental revenue until cash is received or until the tenant is no longer in bankruptcy and has the ability to make rental payments.
Revenue Recognition, Real Estate Loans Receivable	'
	Interest income on the Company’s real estate loans receivable is recognized on an accrual basis over the life of the investment using the interest method. Direct loan origination or acquisition fees and costs, as well as acquisition premiums or discounts, are amortized over the term of the loan as an adjustment to interest income. The Company places loans on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a loan is placed on nonaccrual status, the Company reverses the accrual for unpaid interest and generally does not recognize subsequent interest income until cash is received, or the loan returns to accrual status. Generally, a loan may be returned to accrual status when all delinquent principal and interest are brought current in accordance with the terms of the loan agreement and certain performance criteria have been met.
	The Company will recognize interest income on loans purchased at discounts to face value where the Company expects to collect less than the contractual amounts due under the loan when that expectation is due, at least in part, to the credit quality of the borrower. Income is recognized at an interest rate equivalent to the estimated yield on the loan, as calculated using the carrying value of the loan and the expected cash flows. Changes in estimated cash flows are recognized through an adjustment to the yield on the loan on a prospective basis. Projecting cash flows for these types of loans requires a significant amount of assumptions and judgment, which may have a significant impact on the amount and timing of revenue recognized on these investments. The Company recognizes interest income on non-performing loans on a cash basis since these loans generally do not have an estimated yield and collection of principal and interest is not assured.
Revenue Recognition, Real Estate Securities	'
	The Company recognizes interest income on real estate securities that are beneficial interests in securitized financial assets and are rated “AA” and above on an accrual basis according to the contractual terms of the securities. Discounts or premiums are amortized to interest income over the life of the investment using the interest method.
	The Company recognizes interest income on real estate securities that are beneficial interests in securitized financial assets that are rated below “AA” using the effective yield method, which requires the Company to periodically project estimated cash flows related to these securities and recognize interest income at an interest rate equivalent to the estimated yield on the security, as calculated using the security’s estimated cash flows and amortized cost basis, or reference amount. Changes in the estimated cash flows are recognized through an adjustment to the yield on the security on a prospective basis. Projecting cash flows for these types of securities requires significant judgment, which may have a significant impact on the timing of revenue recognized on these investments.
Revenue Recognition, Cash and Cash Equivalents	'
	The Company recognizes interest income on its cash and cash equivalents as it is earned and records such amounts as other interest income.
Real Estate, Depreciation and Amortization	'
	Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows:


	Buildings	25-40 years
	Building improvements	10-40 years
	Tenant improvements	Shorter of lease term or expected useful life
	Tenant origination and absorption costs	Remaining term of related leases, including below-market renewal periods
Real Estate, Real Estate Acquisition Valuation	'
	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. Acquisition costs are expensed as incurred and restructuring costs that do not meet the definition of a liability at the acquisition date are expensed in periods subsequent to the acquisition date. Real estate obtained in satisfaction of a loan is recorded at the estimated fair value of the real estate (net of liabilities assumed) or the fair value of the loan satisfied if more clearly evident. The excess of the carrying value of the loan over the fair value of the property is charged-off against the reserve for loan losses when title to the property is obtained. Costs of holding the property are expensed as incurred in the Company’s consolidated statements of operations.
	Intangible assets include the value of in-place leases, which represents the estimated value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. Acquired in-place lease value will be amortized to expense over the average remaining terms of the respective in-place leases, including any below-market renewal periods.
	The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant.
	The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods.
	The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods.
	The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases.
	Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. The use of inappropriate assumptions would result in an incorrect valuation of the Company’s acquired tangible assets, identifiable intangibles and assumed liabilities, which would impact the amount of the Company’s net income.
	Direct investments in undeveloped land or properties without leases in place at the time of acquisition are accounted for as an asset acquisition and not as a business combination. Acquisition fees and expenses are capitalized into the cost basis of an asset acquisition. Additionally, during the time in which the Company is incurring costs necessary to bring these investments to their intended use, certain costs such as legal fees, real estate taxes and insurance and financing costs are also capitalized.
Real Estate, Impairments of Real Estate and Related Intangible Assets and Liabilities	'
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. During the year ended December 31, 2013, the Company recorded an impairment charge of $1.4 million with respect to two of its real estate properties held for investment. See Note 4, “Real Estate Held for Investment - Impairment on Real Estate” for more information. The Company did not record any impairment losses on its real estate and related intangible assets and liabilities during the years ended December 31, 2012 and 2011.
	Projecting future cash flows involves estimating expected future operating income and expenses related to the real estate and its related intangible assets and liabilities as well as market and other trends. Using inappropriate assumptions to estimate cash flows could result in incorrect fair values of the real estate and its related intangible assets and liabilities and could result in the overstatement of the carrying values of the Company’s real estate and related intangible assets and liabilities and an overstatement of its net income.
Real Estate, Real Estate Held for Sale and Discontinued Operations	'
	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable related to real estate held for sale are classified as “notes payable related to real estate held for sale” for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less costs to sell. Additionally, the Company records the operating results related to real estate that has either been disposed of or is deemed to be held for sale as discontinued operations for all periods presented if the operations have been or are expected to be eliminated and the Company will not have any significant continuing involvement in the operations of the property following the sale.
Loans Receivables and Loan Loss Reserves	'
	The Company’s real estate loans receivable are recorded at amortized cost, net of loan loss reserves (if any), and evaluated for impairment at each balance sheet date. The amortized cost of a real estate loan receivable is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the loan. The amount of impairment, if any, will be measured by comparing the amortized cost of the loan to the present value of the expected cash flows discounted at the loan’s effective interest rate, the loan’s observable market price, or the fair value of the collateral if the loan is collateral dependent and collection of principal and interest is not assured. If a loan is deemed to be impaired, the Company will record a loan loss reserve and a provision for loan losses to recognize impairment. As of December 31, 2013, there was no loan loss reserve and the Company did not record any impairment losses related to its real estate loans receivable during the years ended December 31, 2013, 2012 and 2011.
	The reserve for loan losses is a valuation allowance that reflects management’s estimate of loan losses inherent in the loan portfolio as of the balance sheet date. The reserve is adjusted through “Provision for loan losses” on the Company’s consolidated statements of operations and is decreased by charge-offs to specific loans when losses are confirmed. The Company considers a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts due under the contractual terms of the loan agreement. If the Company purchases a loan at a discount to face value and at the acquisition date the Company expects to collect less than the contractual amounts due under the terms of the loan based, at least in part, on the Company’s assessment of the credit quality of the borrower, the Company will consider such a loan to be impaired when, based upon current information and events, it believes that it is probable that the Company will be unable to collect all amounts the Company estimated to be collected at the time of acquisition. The Company also considers a loan to be impaired if it grants the borrower a concession through a modification of the loan terms or if it expects to receive assets (including equity interests in the borrower) with fair values that are less than the carrying value of the loan in satisfaction of the loan. A reserve is established when the present value of payments expected to be received, observable market prices, the estimated fair value of the collateral (for loans that are dependent on the collateral for repayment) or amounts expected to be received in satisfaction of a loan are lower than the carrying value of that loan.
	Failure to recognize impairments would result in the overstatement of earnings and the carrying value of the Company’s real estate loans held for investment. Actual losses, if any, could significantly differ from estimated amounts.
Real Estate Securities	'
	The Company classifies its investments in real estate securities as available-for-sale, since the Company may sell them prior to their maturity but does not hold them principally for the purpose of making frequent investments and sales with the objective of generating profits on short-term differences in price. These investments are carried at estimated fair value, with unrealized gains and losses reported in accumulated other comprehensive income (loss). Estimated fair values are generally based on quoted market prices, when available, or on estimates provided by independent pricing sources or dealers who make markets in such securities. In certain circumstances, such as when the market for the securities becomes inactive, the Company may determine it is appropriate to perform an internal valuation of the securities. Upon the sale of a security, the previously recognized unrealized gain (loss) would be reversed out of accumulated other comprehensive income (loss) and the actual realized gain (loss) recognized in earnings.
	On a quarterly basis, the Company evaluates its real estate securities for other-than-temporary impairment. The Company reviews the projected future cash flows from these securities for changes in assumptions due to prepayments, credit loss experience and other factors. If, based on the Company’s quarterly estimate of cash flows, there has been an adverse change in the estimated cash flows from the cash flows previously estimated, the present value of the revised cash flows is less than the present value previously estimated, and the fair value of the securities is less than its amortized cost basis, an other-than-temporary impairment is deemed to have occurred.
	The Company is required to distinguish between other-than-temporary impairments related to credit and other-than-temporary impairments related to other factors (e.g., market fluctuations) on its real estate securities that it does not intend to sell and where it is not likely that the Company will be required to sell the security prior to the anticipated recovery of its amortized cost basis. The Company calculates the credit component of the other-than-temporary impairment as the difference between the amortized cost basis of the security and the present value of its estimated cash flows discounted at the yield used to recognize interest income. The credit component will be charged to earnings and the component related to other factors is recorded to other comprehensive income (loss).
Investment in Unconsolidated Joint Venture, Equity Method	'
	The Company accounts for investments in unconsolidated joint venture entities in which the Company may exercise significant influence over, but does not control, using the equity method of accounting. Under the equity method, the investment is initially recorded at cost and subsequently adjusted to reflect additional contributions or distributions and the Company’s proportionate share of equity in the joint venture’s income (loss). The Company recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity in income (loss) of unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. As of December 31, 2013, the Company did not identify any indicators of impairment related to its unconsolidated real estate joint venture accounted for under the equity method.
Investment in Unconsolidated Joint Venture, Cost Method	'
	The Company accounts for investments in unconsolidated joint venture entities in which the Company does not have the ability to exercise significant influence and has virtually no influence over partnership operating and financial policies using the cost method of accounting. Under the cost method, income distributions from the partnership are recognized in other income. Distributions that exceed the Company’s share of earnings are applied to reduce the carrying value of the Company’s investment and any capital contributions will increase the carrying value of the Company’s investment. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The fair value of a cost method investment is not estimated if there are no identified events or changes in circumstances that would indicate a significant adverse effect on the fair value of the investment. As of December 31, 2013, the Company did not identify any indicators of impairment related to its unconsolidated real estate joint venture accounted for under the cost method.
Cash and Cash Equivalents	'
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2013 and 2012.
	The Company’s cash and cash equivalents balance exceeds federally insurable limits as of December 31, 2013. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Rent and Other Receivables	'
	The Company periodically evaluates the collectibility of amounts due from tenants and maintains an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintains an allowance for deferred rent receivable that arises from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates.
Deferred Financing Costs	'
	Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing. These costs are amortized over the terms of the respective financing agreements using the interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Fair Value Measurements	'
	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other 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.
	When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines that the market for a financial instrument owned by the Company is illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of 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 when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach.
	Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument.
	The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market).
	The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities.
Dividend Reinvestment Plan	'
	The Company has adopted a dividend reinvestment plan (the “DRP”) through which common stockholders may elect to reinvest an amount equal to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. The initial purchase price per share under the DRP will be $9.50. Once the Company establishes an estimated value per share, shares issued pursuant to the dividend reinvestment plan will be priced at the estimated value per share of the Company’s common stock, as determined by the Advisor or another firm chosen for that purpose. The Company expects to establish an estimated value per share after the completion of its offering stage. The offering stage will be considered complete when the Company is no longer publicly offering equity securities — whether through the Offering or follow-on public offerings – and has not done so for 18 months. No selling commissions or dealer manager fees will be paid on shares sold under the DRP. The board of directors of the Company may amend or terminate the DRP for any reason upon 10 days’ notice to participants.
Redeemable Common Stock	'
	The Company has adopted a share redemption program that may enable stockholders to sell their shares to the Company in limited circumstances.
	Pursuant to the share redemption program there are several limitations on the Company’s ability to redeem shares:

	•	Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined under the share redemption program), the Company may not redeem shares until the stockholder has held the shares for one year.

	•	During each calendar year, redemptions are limited to the amount of net proceeds from the sale of shares under the Company’s dividend reinvestment plan during the prior calendar year (except that, as of December 31, 2013, the Company also had available under the share redemption program up to $0.9 million in additional funds to redeem a qualifying stockholder’s shares if the shares were being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence;” for purposes of determining the amount of funds available for redemption under the program, redemptions for a stockholder’s death, qualifying disability or determination of incompetence, were made first from the $0.9 million before the general allocation for redemptions described above).

	•	During any calendar year, the Company may redeem no more than 5% of the weighted‑average number of shares outstanding during the prior calendar year.

	•	The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency.
	Pursuant to the program, the Company redeemed shares at prices determined as follows:

	•	The lower of $9.25 or 92.5% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least one year;

	•	The lower of $9.50 or 95.0% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least two years;

	•	The lower of $9.75 or 97.5% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least three years; and

	•	The lower of $10.00 or 100.0% of the price paid to acquire the shares from the Company for stockholders who have held their shares for at least four years.
	Notwithstanding the above, the redemption price for redemptions sought upon a stockholder’s death, “qualifying disability” or “determination of incompetence” was the amount paid to acquire the shares from the Company. Furthermore, once the Company establishes an estimated value per share of its common stock that is not based on the price to acquire a share in the Company’s primary offering or follow-on public offerings, the redemption price per share for all stockholders was to be equal to the estimated value per share, as determined by the Advisor or another firm chosen for that purpose. The Company expects to establish an estimated value per share after the completion of its offering stage. The Company considers its offering stage complete when it is no longer publicly offering equity securities ─ whether through the primary offering or a follow-on public offering ─ and has not done so for up to 18 months. “Public equity offering” for this purpose does not include offerings on behalf of selling stockholders or offerings related to a dividend reinvestment plan, employee benefit plan or the redemption of interests in the Operating Partnership. On February 14, 2014, the Company’s board of directors approved a Fourth Amended and Restated Share Redemption Program, see Note 17, “Subsequent Events ─ Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program.”
	The Company’s board of directors may amend, suspend or terminate the share redemption program with 30 days’ notice to its stockholders. The Company may provide this notice by including such information in a Current Report on Form 8-K or in the Company’s annual or quarterly reports, all publicly filed with the SEC, or by a separate mailing to its stockholders.
	The Company records amounts that are redeemable under the share redemption program as redeemable common stock in its consolidated balance sheets because the shares will be mandatorily redeemable at the option of the holder and therefore their redemption will be outside the control of the Company. However, because the amounts that can be redeemed will be determinable and only contingent on an event that is likely to occur (e.g., the passage of time) the Company presents the net proceeds from the current year and prior year DRP, net of current year redemptions, as redeemable common stock in its consolidated balance sheets.
	The Company classifies as liabilities financial instruments that represent a mandatory obligation of the Company to redeem shares. The Company’s redeemable common shares are contingently redeemable at the option of the holder. When the Company determines it has a mandatory obligation to repurchase shares under the share redemption program, it will reclassify such obligations from temporary equity to a liability based upon their respective settlement values.
	The Company limited the dollar value of shares that may be redeemed under the program as described above. For the year ended December 31, 2013, the Company had redeemed $2.4 million of common stock, which represented all redemption requests received in good order and eligible for redemption through the December 2013 redemption date. As of December 31, 2013, the Company could redeem up to $0.9 million of shares of common stock if the shares were being redeemed in connection with a stockholders’ death, qualifying disability or determination of incompetence. Additionally, based on the amount of net proceeds raised from the sale of shares under the dividend reinvestment plan during 2013, the Company had $16.6 million available for all redemptions in 2014, including shares that are redeemed in connection with a stockholders’ death, qualifying disability or determination of incompetence. On February 14, 2014, the Company’s board of directors approved a Fourth Amended and Restated Share Redemption Program, see Note 17, “Subsequent Events ─ Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program.”
Related Party Transactions	'
	Pursuant to the Advisory Agreement and Dealer Manager Agreement, the Company is or was obligated to pay the Advisor and KBS Capital Markets Group, LLC (the “Dealer Manager”) specified fees upon the provision of certain services related to the Offering, the investment of funds in real estate and real estate-related investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is or was also obligated to reimburse the Advisor and Dealer Manager for organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company, and the Company is or was obligated to reimburse the Advisor for acquisition and origination expenses and certain operating expenses incurred on behalf of the Company or incurred in connection with providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. See note 11, “Related Party Transactions.”
	The Company records all related party fees as incurred, subject to any limitations described in the Advisory Agreement. The Company had not incurred any subordinated participation in net cash flows or subordinated incentive listing fees payable to the Advisor through December 31, 2013.
Related Party Transactions, Selling Commissions and Dealer Manager Fees	'
	The Company paid the Dealer Manager up to 6.5% and 3.0% of the gross offering proceeds from the primary offering as selling commissions and dealer manager fees, respectively. A reduced sales commission and dealer manager fee was paid with respect to certain volume discount sales. All or a portion of the selling commissions was not charged with regard to shares sold to certain categories of purchasers. No sales commission or dealer manager fee is paid with respect to shares issued through the dividend reinvestment plan. The Dealer Manager reallowed 100% of sales commissions earned to participating broker-dealers. The Dealer Manager could reallow to certain participating broker-dealer up to 1% of the gross offering proceeds attributable to that participating broker-dealer as a marketing fee and, in special cases, the Dealer Manager could increase the reallowance.
Related Party Transactions, Organization and Offering Costs	'
	Organization and offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor, the Dealer Manager or their affiliates on behalf of the Company or may be paid directly by the Company. These offering costs include all expenses incurred by the Company in connection with the Offering. Organization costs include all expenses incurred by the Company in connection with the formation of the Company, including but not limited to legal fees and other costs to incorporate the Company.
	The Company reimburses the Advisor for organization and offering costs up to an amount that, when combined with selling commissions, dealer manager fees and all other amounts spent by the Company on organization and offering expenses, does not exceed 15% of the gross proceeds of the Company’s primary offering and the offering under the DRP as of the date of reimbursement. At the termination of the primary offering and at the termination of the offering under the DRP, the Advisor agreed to reimburse the Company to the extent that selling commissions, dealer manager fees and other organization and offering expenses incurred by the Company exceed 15% of the gross offering proceeds of the respective offering.
	In connection with the primary portion of the Offering, the Company reimbursed the Dealer Manager for underwriting compensation, provided that within 30 days after the end of the month in which the primary initial public offering terminated, the Dealer Manager was required to reimburse the Company to the extent that the Company’s reimbursements caused total underwriting compensation for the primary initial public offering to exceed 10% of the gross offering proceeds from such offering. The Company also paid directly or reimbursed the Dealer Manager for bona fide invoiced due diligence expenses of broker dealers. However, no reimbursements made by the Company to the Dealer Manager were allowed to cause total organization and offering expenses incurred by the Company (including selling commissions, dealer manager fees and all other items of organization and offering expenses) to exceed 15% of the aggregate gross proceeds from the Company’s primary offering and the offering under its DRP as of the date of reimbursement.
	As of December 31, 2013, the Company’s selling commissions, dealer manager fees, and organization and other offering costs did not exceed 15% of the gross offering proceeds. Through December 31, 2013, including shares issued through the Company’s dividend reinvestment plan, the Company had issued 59,665,806 shares in the Offering for gross offering proceeds of $591.0 million and recorded selling commissions and dealer manager fees of $49.6 million and other offering costs of $10.7 million. Organization costs are expensed as incurred and offering costs, which include selling commissions and dealer manager fees, are charged as incurred as a reduction to stockholders’ equity.
	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.
Related Party Transactions, Acquisition and Origination Fees	'
	The Company pays the Advisor an acquisition and origination fee equal to 1% of the cost of investments acquired, or the amount funded by the Company to acquire or originate mortgage, mezzanine, bridge or other loans, including any acquisition and origination expenses related to such investments and any debt attributable to such investments.
Related Party Transactions, Asset Management Fees	'
	With respect to investments in loans and any investments other than real estate, the Company pays the Advisor a monthly fee calculated, each month, as one-twelfth of 0.75% of the lesser of (i) the amount paid or allocated to acquire or fund the loan or other investment, inclusive of acquisition and origination fees and expenses related thereto and the amount of any debt associated with or used to acquire or fund such investment and (ii) the outstanding principal amount of such loan or other investment, plus the acquisition and origination fees and expenses related to the acquisition or funding of such investment, as of the time of calculation.
	With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee equal to one-twelfth of 0.75% of the amount paid or allocated to acquire the investment, including the cost of subsequent capital improvements, inclusive of acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment.
	In the case of investments made through joint ventures, the asset management fee is determined based on the Company’s proportionate share of the underlying investment.
Related Party Transactions, Disposition Fee	'
	For substantial assistance in connection with the sale of properties or other investments, the Company pays the Advisor or its affiliates 1.0% of the contract sales price of each property or other investment sold; provided, however, in no event may the disposition fees paid to the Advisor, its affiliates and unaffiliated third parties exceed 6.0% of the contract sales price.
Income Taxes	'
	The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to organize and operate in such a manner as to qualify for treatment as a REIT.
	The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for the tax years ended December 31, 2013, 2012 and 2011. As of December 31, 2013, returns for the calendar year 2012, 2011 and 2010 remain subject to examination by major tax jurisdictions.
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) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the years ended December 31, 2013, 2012 and 2011.
	Distributions declared per share were $0.44, $0.40 and $0.30 during the years ended December 31, 2013, 2012 and 2011, respectively.
Square Footage, Occupancy and Other Measures	'
	Square footage, number of acres, occupancy and other measures used to describe real estate and real estate-related investments included in the Notes to Consolidated Financial Statements are presented on an unaudited basis.
Recently Issued Accounting Standards Update	'
	In February 2013, 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.

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Schedule of Estimated Useful Life	'
	The Company anticipates the estimated useful lives of its assets by class to be generally as follows:


	Buildings	25-40 years
	Building improvements	10-40 years
	Tenant improvements	Shorter of lease term or expected useful life
	Tenant origination and absorption costs	Remaining term of related leases, including below-market renewal periods

RECENT_ACQUISITIONS_OF_REAL_ES1

RECENT ACQUISITIONS OF REAL ESTATE (Tables)	12 Months Ended
RECENT ACQUISITIONS OF REAL ESTATE (Tables)	Dec. 31, 2013
Business Acquisition [Line Items]	'
Schedule of Business Acquisitions, Properties Acquired	'
	During the year ended December 31, 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
	Maitland Promenade II	Orlando		FL	12/18/13	3,434		22,470		4,812		236		—			30,952
	Maitland Promenade II	Orlando		FL	12/18/13	3,434		22,470		4,812		236		—			30,952
						$	38,671	$	211,278	$	26,838	$	2,106	$	(3,953	)	$	274,940
						$	38,671	$	211,278	$	26,838	$	2,106	$	(3,953	)	$	274,940
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
	Maitland Promenade II	5.5		8	—
1180 Raymond [Member]	'
Business Acquisition [Line Items]	'
Schedule of Recognized Identified Assets Acquired and Liabilities Assumed	'
	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)	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
Schedule of Real Estate Investments	'
	The following table summarizes the Company’s real estate held for investment as of December 31, 2013 and December 31, 2012, respectively (in thousands):


			December 31, 2013				31-Dec-12
	Land		$	159,918			$	88,794

	Buildings and improvements		460,088				197,443

	Tenant origination and absorption costs		48,012				21,409

	Total real estate, cost		668,018				307,646

	Accumulated depreciation and amortization		(29,859		)		(7,615		)
	Total real estate, net		$	638,159			$	300,031

	The following table provides summary information regarding the Company’s real estate held for investment as of December 31, 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 (1)							Real Estate,
																											Net
	Village Overlook Buildings		8/2/10		Stockbridge		GA		Office		$	322		$	952		$	—		$	1,274		$	—			$	1,274		100	%

	Academy Point Atrium I		11/3/10		Colorado Springs		CO		Office		1,291			2,009			—			3,300			—				3,300			100	%

	Northridge Center I & II		3/25/11		Atlanta		GA		Office		2,234			5,754			—			7,988			(626		)		7,362			100	%

	Iron Point Business Park		6/21/11		Folsom		CA		Office		2,670			18,652			191			21,513			(1,821		)		19,692			100	%

	1635 N. Cahuenga Building		8/3/11		Los Angeles		CA		Office		3,112			4,508			148			7,768			(493		)		7,275			70	%

	Richardson Portfolio:
	Palisades Central I		11/23/11		Richardson		TX		Office		1,037			9,099			1,318			11,454			(1,551		)		9,903			90	%

	Palisades Central II		11/23/11		Richardson		TX		Office		810			16,408			1,927			19,145			(2,902		)		16,243			90	%

	Greenway I		11/23/11		Richardson		TX		Office		561			2,180			—			2,741			(208		)		2,533			90	%

	Greenway III		11/23/11		Richardson		TX		Office		702			3,824			944			5,470			(965		)		4,505			90	%

	Undeveloped Land		11/23/11		Richardson		TX		Undeveloped Land		6,661			—			—			6,661			—				6,661			90	%

	Total Richardson Portfolio										9,771			31,511			4,189			45,471			(5,626		)		39,845

	Park Highlands		12/30/11		North Las Vegas		NV		Undeveloped Land		26,287			—			—			26,287			—				26,287			50.1	%

	Bellevue Technology Center		7/31/12		Bellevue		WA		Office		25,506			50,059			3,813			79,378			(3,188		)		76,190			100	%

	Powers Ferry Landing East		9/24/12		Atlanta		GA		Office		1,642			5,289			204			7,135			(298		)		6,837			100	%

	1800 West Loop		12/4/12		Houston		TX		Office		8,360			56,168			5,709			70,237			(3,678		)		66,559			100	%

	West Loop I & II		12/7/12		Houston		TX		Office		7,300			27,903			3,593			38,796			(2,697		)		36,099			100	%

	Burbank Collection		12/12/12		Burbank		CA		Retail		4,175			7,765			1,076			13,016			(490		)		12,526			90	%

	Austin Suburban Portfolio		3/28/13		Austin		TX		Office		8,288			64,178			5,221			77,687			(3,627		)		74,060			100	%

	Westmoor Center		6/12/13		Westminster		CO		Office		10,058			63,566			10,117			83,741			(3,231		)		80,510			100	%

	Central Building		7/10/13		Seattle		WA		Office		7,015			23,848			2,364			33,227			(742		)		32,485			100	%

	50 Congress Street		7/11/13		Boston		MA		Office		9,876			39,813			3,842			53,531			(1,543		)		51,988			100	%

1180 Raymond		8/20/13		Newark		NJ		Apartment		8,292			35,643			2,733			46,668			(1,716		)		44,952			100	%

Park Highlands II		12/10/13		North Las Vegas		NV		Undeveloped Land		20,285			—			—			20,285			—				20,285			99.5	%

Maitland Promenade II		12/18/13		Orlando		FL		Office		3,434			22,470			4,812			30,716			(83		)		30,633			100	%

										$	159,918		$	460,088		$	48,012		$	668,018		$	(29,859	)		$	638,159

_____________________
(1) Amounts are net of impairment charges. See “—Impairment of Real Estate” below.
Schedule of Future Minimum Rental Income for Company's Properties	'
	As of December 31, 2013, the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands):


	2014	$	51,770

	2015	51,340

	2016	44,544

	2017	34,405

	2018	25,775

	Thereafter	45,638

		$	253,472

Schedules of Concentration of Risk, by Risk Factor	'
	As of December 31, 2013, the Company had approximately 400 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows:


	Industry		Number of		Annualized				Percentage of
			Tenants		Base Rent (1)				Annualized
					(in thousands)				Base Rent
	Insurance		23		$	6,803			11.1	%

	Professional, Scientific and Legal		47		6,672				10.8	%

	Finance		30		6,300				10.2	%

					$	19,775			32.1	%

	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of December 31, 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)	12 Months Ended
	Dec. 31, 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 December 31, 2013 and 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
		December 31,			December 31,			December 31,			December 31,			December 31,			December 31,
		2013			2012			2013			2012			2013			2012
	Cost	$	48,012		$	21,409		$	4,394		$	3,179		$	(5,955	)	$	(2,157	)
	Cost	$	48,012		$	21,409		$	4,394		$	3,179		$	(5,955	)	$	(2,157	)
	Accumulated Amortization	(10,751		)	(2,777		)	(1,459		)	(895		)	1,535			126
	Accumulated Amortization	(10,751		)	(2,777		)	(1,459		)	(895		)	1,535			126
	Net Amount	$	37,261		$	18,632		$	2,935		$	2,284		$	(4,420	)	$	(2,031	)
	Net Amount	$	37,261		$	18,632		$	2,935		$	2,284		$	(4,420	)	$	(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 years ended December 31, 2013, 2012 and 2011 are as follows (in thousands):


		Tenant Origination and									Above-Market									Below-Market
		Absorption Costs									Lease Assets									Lease Liabilities
		For the Years Ended December 31,									For the Years Ended December 31,									For the Years Ended December 31,
		2013			2012			2011			2013			2012			2011			2013		2012		2011
	Amortization	$	(10,942	)	$	(3,689	)	$	(1,644	)	$	(1,456	)	$	(1,095	)	$	(574	)	$	1,565	$	229	$	39
	Amortization	$	(10,942	)	$	(3,689	)	$	(1,644	)	$	(1,456	)	$	(1,095	)	$	(574	)	$	1,565	$	229	$	39
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	'
	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2013 will be amortized for the years ending December 31 as follows (in thousands):


		Tenant			Above-Market			Below-Market
		Origination and			Lease Assets			Lease Liabilities
		Absorption Costs
	2014	$	(11,965	)	$	(1,012	)	$	1,683
	2014	$	(11,965	)	$	(1,012	)	$	1,683
	2015	(8,857		)	(736		)	1,160
	2015	(8,857		)	(736		)	1,160
	2016	(6,405		)	(552		)	700
	2016	(6,405		)	(552		)	700
	2017	(4,002		)	(309		)	376
	2017	(4,002		)	(309		)	376
	2018	(2,418		)	(154		)	185
	2018	(2,418		)	(154		)	185
	Thereafter	(3,614		)	(172		)	316
	Thereafter	(3,614		)	(172		)	316
		$	(37,261	)	$	(2,935	)	$	4,420
		$	(37,261	)	$	(2,935	)	$	4,420
	Weighted-Average Remaining Amortization Period	4.4 years			3.9 years			3.8 years

REAL_ESTATE_LOANS_RECEIVABLE_T

REAL ESTATE LOANS RECEIVABLE (Tables)	12 Months Ended
REAL ESTATE LOANS RECEIVABLE (Tables)	Dec. 31, 2013
Receivables [Abstract]	'
Schedule of Real Estate Loans Receivable	'
	As of December 31, 2013 and 2012, the Company, through wholly owned subsidiaries, had invested in or originated outstanding real estate loans receivable as set forth below (dollars in thousands):



	Loan Name		Date Acquired/ Originated		Property Type	Loan Type		Outstanding Principal Balance as of December 31, 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 December 31, 2013 (2)
	Collateral
	University House First Mortgage
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000			$	21,893	—		11.00%	13.00%	4/1/14
	New York New York		3/20/13		Student Housing	Mortgage		$	22,000			$	21,893	—		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			$	21,893	$	71,906
								$	22,000			$	21,893	$	71,906
	_____________________
	(1) Outstanding principal balance as of December 31, 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 December 31, 2013.
	(4) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure”.
	(5) 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 the earliest prepayment date allowable in accordance with the loan agreement. The exit fee and additional interest are included in interest income from real estate loans receivable in the accompanying consolidated statements of operations.
Schedule of Activity Related to Real Estate Loans Receivable	'
	The following summarizes the activity related to the real estate loans receivable for the year ended December 31, 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	842
		842
	Real estate loans receivable - December 31, 2013	$	21,893
	Real estate loans receivable - December 31, 2013	$	21,893
Schedule of Interest Income from Real Estate Loans Receivable	'
	For the years ended December 31, 2013, 2012 and 2011 interest income from real estate loans receivable consisted of the following (in thousands):


			2013			2012				2011
	Contractual interest income		$	8,248		$	1,202			$	311
	Contractual interest income		$	8,248		$	1,202			$	311
	Interest accretion		1,186			454				—
	Interest accretion		1,186			454				—
	Accretion of closing costs and origination fees, net		842			52				—
	Accretion of closing costs and origination fees, net		842			52				—
	Interest income from real estate loans receivable		$	10,276		$	1,708			$	311
	Interest income from real estate loans receivable		$	10,276		$	1,708			$	311

REAL_ESTATE_SECURITIES_Tables

REAL ESTATE SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2013
Real Estate Securities [Abstract]	'
Schedule of Investments in CMBS	'
	As of December 31, 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%		333			342	(9	)	333

Schedule of Activity of Real Estate Securities	'
	The following summarizes the activity related to real estate securities for the year ended December 31, 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	(4,452		)		—				(4,452		)

	Unrealized gains	—				4				4

	Amortization of premium on securities	(36		)		—				(36		)

	Real estate securities - December 31, 2013	$	342			$	(9	)		$	333

REAL_ESTATE_HELD_FOR_SALE_AND_1

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)	12 Months Ended
	Dec. 31, 2013
Discontinued Operations and Disposal Groups [Abstract]	'
Schedule of Operating Income from Discontinued Operations	'
	years ended December 31, 2013, 2012 and 2011 (in thousands):


		Years Ended December 31,
		2013				2012			2011
	Total revenues and other income	$	1,387			$	1,029		$	377

	Total expenses	2,754				2,645			560

	Loss from discontinued operations before gain on sales of real estate	(1,367		)		(1,616		)	(183		)
	Gain on sales of real estate, net	13,108				593			—

	Income (loss) from discontinued operations	$	11,741			$	(1,023	)	$	(183	)

Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale	'
	The following summary presents the major components of real estate held for sale and liabilities related to real estate held for sale as of December 31, 2012 (in thousands):


			31-Dec-12
	Assets related to real estate held for sale
	Total real estate, at cost		$	18,508

	Accumulated depreciation and amortization		(906		)
	Real estate held for sale, net		17,602

	Other assets		916

	Total assets		$	18,518

	Liabilities related to real estate held for sale
	Notes payable		4,340

	Total liabilities		$	4,340

NOTES_AND_BOND_PAYABLE_Tables

NOTES AND BOND PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2013
Notes and Bonds Payable [Abstract]	'
Schedule of Long-term Debt Instruments	'
	As of December 31, 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 December 31, 2013 (1)	Effective Interest Rate at December 31, 2013 (1)	Payment Type	Maturity
		31-Dec-13							Date (2)
	Richardson Portfolio Mortgage Loan (3)	$	31,566	$	33,751	(3)	6.25%	Interest Only	11/30/15

	Bellevue Technology Center Mortgage Loan (4)	47,408		—		One-Month LIBOR + 2.25%	2.42%	Interest Only	3/1/17

	Portfolio Revolving Loan Facility (5)	3,379		—		One-Month LIBOR + 2.25%	2.42%	Interest Only	5/1/17

	Portfolio Mortgage Loan (6)	82,766		—		One-Month LIBOR + 2.50%	2.67%	Interest Only	7/1/17

	1635 N. Cahuenga Mortgage Loan (7)	4,650		—		One-Month LIBOR + 2.35%	2.52%	Interest Only	8/1/16

	Burbank Collection Mortgage Loan (8)	8,200		—		One-Month LIBOR + 2.35%	2.54%	Interest Only	9/30/16

	50 Congress Mortgage Loan (9)	26,535		—		One-Month LIBOR + 1.90%	2.07%	Interest Only	10/1/17

	1180 Raymond Bond Payable (10)	7,085		—		6.50%	6.50%	Principal	9/1/36
								& Interest
	Central Building Mortgage Loan (11)	24,100		—		One-Month LIBOR + 1.75%	1.92%	Interest Only	11/13/18

	Maitland Promenade II Mortgage Loan (12)	20,182		—		One-Month LIBOR + 2.90%	3.25%	Interest Only	1/1/17

	Total Notes and Bond Payable principal outstanding	255,871		33,751

	Premium on Bond Payable, net (13)	1,549		—

	Total Notes and Bond Payable, net	$	257,420	$	33,751

	_____________________
	(1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2013. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at December 31, 2013, where applicable.
	(2) Represents the initial maturity date or the maturity date as extended as of December 31, 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 December 31, 2013, the outstanding principal balance was $31.6 million and $8.3 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 December 31, 2013, $47.4 million had been disbursed to the Company and the remaining $5.6 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 December 31, 2013, $3.4 million of the non-revolving debt had been disbursed to the Company and the remaining $59.5 million of revolving debt and $9.6 million of non-revolving debt is available for future disbursements, subject to certain conditions contained in the loan documents. 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”). On October 31, 2013, the Company sold two buildings in the Power Ferry Landing East property and repaid $2.8 million. In addition, the Portfolio Mortgage Loan borrowing capacity was reduced to $107.6 million, comprised of $77.8 million of revolving debt and the remaining $29.8 million of non-revolving debt available for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of December 31, 2013, $82.8 million had been disbursed to the Company with the remaining $24.8 million of non-revolving debt available for future disbursements, 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) 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 Company owns a 70% equity interest in the joint venture that owns the 1635 N. Cahuenga Building. As of December 31, 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. Monthly payments are initially interest only. 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.
	(8) 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 Company owns a 90% equity interest in the joint venture that owns the Burbank Collection. As of December 31, 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. Monthly payments are interest only.
	(9) 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. As of December 31, 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. 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.
	(10) See Note 3 “Recent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure.”
	(11) On November 13, 2013, the Company, through an indirect wholly owned subsidiary, entered into a five-year secured mortgage loan with an unaffiliated lender for borrowings of up to $27.6 million secured by the Central Building. As of December 31, 2013, $24.1 million of the Central Building Mortgage Loan was funded, the remaining $3.5 million is 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 interest only.
	(12) On December 31, 2013, the Company, through an indirect wholly owned subsidiary, entered into a three-year secured mortgage loan with an unaffiliated lender for borrowings of up to $23.0 million secured by Maitland Promenade II. As of December 31, 2013, $20.2 million of the Maitland Promenade II Mortgage Loan was funded, the remaining $2.8 million is 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. Interest on the loan is calculated at a variable annual rate of 290 basis points over one-month LIBOR, but at no point shall the interest rate be less than 3.25%. Beginning February 1, 2016, monthly payments will include principal and interest with principal payments calculated using an amortization schedule of 30 years. Monthly payments are initially interest only.
	(13) 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	'
	The following is a schedule of maturities, including principal amortization payments, for all notes and bond payable outstanding as of December 31, 2013 (in thousands):


	2014	$	140

	2015	31,751

	2016	14,991

	2017	178,429

	2018	24,280

	Thereafter	6,280

		$	255,871

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 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 December 31, 2013 and December 31, 2012, which carrying amounts do not approximate the fair values (in thousands):


			31-Dec-13									31-Dec-12
			Face Value			Carrying Amount			Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loans receivable		$	22,000		$	21,893		$	22,000		$	92,334	$	71,906	$	70,750

	Financial liabilities:
	Notes and bond payable		$	255,871		$	257,420		$	258,876		$	33,751	$	33,751	$	35,928

Schedule of Assets and Liabilities at Fair Value	'
	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%.
	As of December 31, 2013, two of the Company’s real estate properties held for investment were measured at fair value as these properties were impaired and the carrying values of the properties were adjusted to fair value. The Company estimated the fair value for the two impaired real estate properties held for investment by performing a 10-year discounted cash flow analysis. These two properties had significant vacancies and the terminal capitalization rates and discount rates used to estimate the fair value of both properties were 9.0% and 10.0%, respectively.
	During the year ended December 31, 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	$	333		$	—		$	333		$	—

	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
	Impaired real estate held for investment	$	4,700		$	—		$	—		$	4,700

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 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 years ended December 31, 2013, 2012 and 2011, respectively, and any related amounts payable as of December 31, 2013 and December 31, 2012 (in thousands):


		Incurred						Payable as of
								December 31,
		2013		2012		2011		2013		2012
	Expensed
	Asset management fees (1)	$	4,173	$	1,710	$	328	$	—	$	—

	Real estate acquisition fees	2,784		2,206		460		—		—

	Reimbursable operating expenses (2)	139		118		60		—		21

	Disposition fees	322		21		—		—		—


	Additional Paid-in Capital
	Selling commissions	—		20,683		9,431		—		—

	Dealer manager fees	—		10,451		4,893		—		—

	Reimbursable other offering costs	—		1,825		2,450		—		—


	Capitalized
	Acquisition and origination fees on real estate loans receivable	220		790		199		—		—

	Acquisition fee on undeveloped land	199		—		106		—		—

		$	7,837	$	37,804	$	17,927	$	—	$	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 $134,000, $103,000 and 60,000 for the years ended December 31, 2013, 2012 and 2011, 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.

INVESTMENT_IN_UNCONSOLIDATED_J1

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)

12 Months Ended

Dec. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Schedule of Investments in Unconsolidated Joint Ventures

As of December 31, 2013 and 2012, the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands):

Investment Balance at December 31,

Joint Venture

Number of Properties

Location

Ownership %

2013

2012

NIP Joint Venture

Various

Less than 5.0%

7,484

7,926

110 William Joint Venture

N/A

60.00%

8,854

—

16,338

7,926

PRO_FORMA_FINANCIAL_INFORMATIO1

PRO FORMA FINANCIAL INFORMATION (Tables)	12 Months Ended
	Dec. 31, 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 Years Ended December 31,
		2013		2012
	Revenues	$	78,935	$	43,766

	Depreciation and amortization	32,723		$	15,002

	Net income (loss) attributable to common stockholders	14,348		$	(6,431	)

	Net income (loss) per common share, basic and diluted	0.24		$	(0.11	)

	Weighted-average number of common shares outstanding, basic and diluted	59,619,000		58,836,153

SELECTED_QUARTERLY_FINANCIAL_D1

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Schedule of Quarterly Financial Information	'
	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2013 and 2012 (in thousands, except per share amounts):


		2013
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	10,463		$	14,361		$	23,281		$	20,391

	Net income (loss)	$	1,741		$	(2,429	)	$	7,260		$	5,017

	Net income (loss) attributable to common stockholders	$	1,411		$	(2,343	)	$	7,344		$	5,081

	Net income (loss) per common share, basic and diluted	$	0.02		$	(0.04	)	$	0.13		$	0.09

	Distributions declared per common share (1)	$	0.062		$	—		$	—		$	0.38



		2012
		First Quarter			Second Quarter			Third Quarter			Fourth Quarter
	Revenues	$	3,430		$	3,166		$	4,509		$	7,775

	Net loss	$	(705	)	$	(2,808	)	$	(3,660	)	$	(2,922	)
	Net loss attributable to common stockholders	$	(783	)	$	(2,710	)	$	(3,499	)	$	(2,770	)
	Net loss per common share, basic and diluted	$	(0.03	)	$	(0.09	)	$	(0.10	)	$	(0.05	)
	Distributions declared per common share (1)	$	0.023		$	0.025		$	0.352		$	—

	_____________________
	(1) On February 13, 2012, the Company’s board of directors authorized a distribution in the amount of $0.02309337 per share of common stock to stockholders of record as of the close of business on February 14, 2012. The Company paid this distribution on February 17, 2012. On April 16, 2012, the Company’s board of directors authorized a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on April 16, 2012. The Company paid this distribution on April 30, 2012. On July 20, 2012, the Company’s board of directors authorized a distribution in the amount of $0.35190663 per share of common stock to stockholders of record as of the close of business on July 20, 2012. The Company paid this distribution on July 31, 2012. On March 20, 2013, our board of directors authorized a distribution in the amount of $0.06153498 per share of common stock to stockholders of record as of the close of business on March 22, 2013. The Company paid this distribution on April 4, 2013. On November 11, 2013, our board of directors authorized a distribution in the amount of $0.38 per share of common stock to stockholders of record as of the close of business on November 13, 2013. The Company paid this distribution on December 5, 2013. Investors could choose to receive cash distributions or purchase additional shares under the dividend reinvestment plan.

EARNINGS_PER_SHARE_Tables

EARNINGS PER SHARE (Tables)	12 Months Ended
	Dec. 31, 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):


		For the Year Ended December 31,
		2013			2012			2011
	Numerator
	Loss from continuing operations	$	(152	)	$	(9,072	)	$	(7,616	)
	Loss from continuing operations attributable to noncontrolling interests	302			232			216

	Income (loss) from continuing operations attributable to common stockholders	150			(8,840		)	(7,400		)

	Total income (loss) from discontinued operations	11,741			(1,023		)	(183		)

	Total (income) loss from discontinued operations attributable to noncontrolling interests	(398		)	101			2

	Total income (loss) from discontinued operations attributable to common stockholders	11,343			(922		)	(181		)

	Net income (loss) attributable to common stockholders	$	11,493		$	(9,762	)	$	(7,581	)


	Denominator
	Weighted-average number of common shares outstanding, basic and diluted	58,359,568			35,458,656			11,432,823


	Basic and diluted income (loss) per common share:
	Continuing operations	$	—		$	(0.25	)	$	(0.65	)

	Discontinued operations	0.2			(0.03		)	(0.01		)

	Net income (loss) per common share	$	0.2		$	(0.28	)	$	(0.66	)

ORGANIZATION_Details

ORGANIZATION (Details) (USD $)

12 Months Ended

49 Months Ended

12 Months Ended

49 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Oct. 23, 2012

Dec. 29, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Jan. 08, 2009

Dec. 31, 2013

Investments

Office Properties [Member]

Office Campus [Member]

Office Buildings, Campus [Member]

Office Portfolio [Member]

Office Properties, Portfolio [Member]

Office Buildings, Portfolio [Member]

Retail Property, Portfolio [Member]

Apartment Properties, Portfolio [Member]

Undeveloped Land [Member]

Undeveloped Land, Portfolio [Member]

Common Stock [Member]

KBS Capital Advisors LLC [Member]

properties

Portfolios

properties

acre

Minimum [Member]

Maximum [Member]

Investments

MortgageLoans

Investments

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

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

1,751,478

35,993,756

17,085,827

56,584,976

Issuance of common stock, value

$16,641,000

$357,334,000

$169,166,000

$18,000

$360,000

$171,000

$561,700,000

Shares of common stock sold under dividend reinvestment plan, shares

3,080,830

Stock issued during period, value

29,300,000

Redemptions of common stock, shares

260,105

80,944

4,000

343,049

Redemptions of common stock, value

2,450,000

755,000

40,000

3,200,000

3,000

1,000

Common stock, shares issued

59,619,000

58,127,627

59,619,000

55,249

220,994

Common stock, value, issued

$596,000

$581,000

$596,000

$500,000

$2,000,000

Number of real estate properties

Number of real estate properties acquired through foreclosure

Number of investments in real estate

Real estate area of undeveloped land

1,670

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

Number of first mortgage loans

Number of investments in unconsolidated joint venture

SUMMARY_OF_SIGNIFICANT_ACCOUNT3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Useful Life) (Details)	12 Months Ended
	Dec. 31, 2013
Building [Member] \| Minimum [Member]	'
Property, Plant and Equipment [Line Items]	'
Useful life	'25 years
Building [Member] \| Maximum [Member]	'
Property, Plant and Equipment [Line Items]	'
Useful life	'40 years
Building Improvements [Member] \| Minimum [Member]	'
Property, Plant and Equipment [Line Items]	'
Useful life	'10 years
Building Improvements [Member] \| Maximum [Member]	'
Property, Plant and Equipment [Line Items]	'
Useful life	'40 years
Tenant Improvements [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'Shorter of lease term or expected useful life
Tenant Origination and Absorption Costs [Member]	'
Property, Plant and Equipment [Line Items]	'
Estimated useful lives	'Remaining term of related leases, including below-market renewal periods

SUMMARY_OF_SIGNIFICANT_ACCOUNT4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) (USD $)

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

properties

Summary of Significant Accounting Policies [Line Items]

Impairment charges on real estate held for investment

$1,433,000

Number of properties held for investment

Restricted cash and cash equivalents

Dividend reinvestment plan, initial purchase price per share

$9.50

Term company has not established an estimated value per share

'18 months

Redemption value

900,000

Redemptions of common stock, value

2,400,000

Distributions declared per common share

$0.38

[1]

$0.06

[1]

$0.35

[1]

$0.03

[1]

$0.02

[1]

$0.44

$0.40

$0.30

Third Amended and Restated Share Redemption Program [Member] | Maximum [Member]

Summary of Significant Accounting Policies [Line Items]

Maximum percentage of weighted-average shares outstanding available for redemption during any calendar year

5.00%

Fourth Amended and Restated Share Redemption Program [Member]

Summary of Significant Accounting Policies [Line Items]

Remaining authorized repurchase amount

16,600,000

Fourth Amended and Restated Share Redemption Program [Member] | Maximum [Member]

Summary of Significant Accounting Policies [Line Items]

Remaining authorized repurchase amount

$900,000

Fourth Amended and Restated Share Redemption Program [Member] | Held for One Year [Member]

Summary of Significant Accounting Policies [Line Items]

Redemption price of most recent estimated value per share

$9.25

Redemption price percentage of most recent estimated value per share

92.50%

Fourth Amended and Restated Share Redemption Program [Member] | Held for Two Years [Member]

Summary of Significant Accounting Policies [Line Items]

Redemption price of most recent estimated value per share

$9.50

Redemption price percentage of most recent estimated value per share

95.00%

Fourth Amended and Restated Share Redemption Program [Member] | Held for Three Years [Member]

Summary of Significant Accounting Policies [Line Items]

Redemption price of most recent estimated value per share

$9.75

Redemption price percentage of most recent estimated value per share

97.50%

Fourth Amended and Restated Share Redemption Program [Member] | Held for Four Years [Member]

Summary of Significant Accounting Policies [Line Items]

Redemption price of most recent estimated value per share

$10

Redemption price percentage of most recent estimated value per share

100.00%

Common Stock [Member]

Summary of Significant Accounting Policies [Line Items]

Term company has not established an estimated value per share

'18 months

Office Building [Member]

Summary of Significant Accounting Policies [Line Items]

Number of real estate properties disposed

Four Parcels of Partially Improved Land [Member]

Summary of Significant Accounting Policies [Line Items]

Number of real estate properties disposed

Area of land

Assets Held-for-sale [Member] | Industrial/Flex Property [Member]

Summary of Significant Accounting Policies [Line Items]

Number of real estate properties disposed

[1]

On February 13, 2012, the Companybs board of directors authorized a distribution in the amount of $0.02309337 per share of common stock to stockholders of record as of the close of business on February 14, 2012. The Company paid this distribution on February 17, 2012. On April 16, 2012, the Companybs board of directors authorized a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on April 16, 2012. The Company paid this distribution on April 30, 2012. On July 20, 2012, the Companybs board of directors authorized a distribution in the amount of $0.35190663 per share of common stock to stockholders of record as of the close of business on July 20, 2012. The Company paid this distribution on July 31, 2012. On March 20, 2013, our board of directors authorized a distribution in the amount of $0.06153498 per share of common stock to stockholders of record as of the close of business on March 22, 2013. The CompanyB paid this distribution on April 4, 2013. On November 11, 2013, our board of directors authorized a distribution in the amount of $0.38 per share of common stock to stockholders of record as of the close of business on November 13, 2013. The CompanyB paid this distribution on December 5, 2013. Investors could choose to receive cash distributions or purchase additional shares under the dividend reinvestment plan.

SUMMARY_OF_SIGNIFICANT_ACCOUNT5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Related Party Transactions) (Details) (USD $)	37 Months Ended		12 Months Ended					37 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012
			Maximum [Member]	KBS Capital Advisors LLC [Member]	KBS Capital Advisors LLC [Member]	KBS Capital Advisors LLC or Affiliates [Member]	KBS Capital Advisors LLC, Affiliates or Unaffiliated Third Parties [Member]	Common Stock [Member]
					Minimum [Member]		Maximum [Member]
Related Party Transaction [Line Items]	'	'	'	'	'	'	'	'
Selling commissions fees paid, percent of gross offering proceeds	'	'	6.50%	'	'	'	'	'
Dealer managers fees paid, percent of gross offering proceeds	'	'	3.00%	'	'	'	'	'
Percent of dealer manager reallows of sales commissions earned to participating broker-dealer	'	100.00%	'	'	'	'	'	'
Sales commissions, broker dealer, percentage	'	'	1.00%	'	'	'	'	'
Reimbursable offering costs determination, gross offering costs, percentage	'	'	'	'	15.00%	'	'	'
Reimbursed offering costs determination, gross offering costs, percentage	'	'	15.00%	'	'	'	'	'
Underwriting compensation for initial public offering as percent of gross offering proceeds	'	'	'	'	10.00%	'	'	'
Stock issued during period, shares	'	'	'	'	'	'	'	59,665,806
Stock issued during period, value	$591	'	'	'	'	'	'	'
Selling commissions and dealer manager fees	49.6	'	'	'	'	'	'	'
Other offering cost	$10.70	'	'	'	'	'	'	'
Acquisition advisory fee, percent	'	'	'	1.00%	'	'	'	'
Monthly asset management fee, percent of acquisition expense	'	'	'	0.00%	'	'	'	'
Selling commissions fees paid, percent of sales price	'	'	'	'	'	1.00%	6.00%	'

RECENT_ACQUISITIONS_OF_REAL_ES2

RECENT ACQUISITIONS OF REAL ESTATE (Narrative) (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Business Combinations [Abstract]	'
Business combination and acquisition cost expensed	$4
Total revenues recognized from business combination	18.5
Operating expense recognized from business combination	$15.80

RECENT_ACQUISITIONS_OF_REAL_ES3

RECENT ACQUISITIONS OF REAL ESTATE (Schedule of Business Acquisitions, Properties Acquired) (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Business Acquisition [Line Items]	'
Land	$38,671
Building and Improvements	211,278
Tenant Origination and Absorption Costs	26,838
Above-Market Lease Assets	2,106
Below-Market Lease Liabilities	-3,953
Total Purchase Price	274,940
Office [Member] \| Austin Suburban Portfolio [Member]	'
Business Acquisition [Line Items]	'
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]	'
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]	'
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]	'
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
Office [Member] \| Maitland Promenade II [Member]	'
Business Acquisition [Line Items]	'
Land	3,434
Building and Improvements	22,470
Tenant Origination and Absorption Costs	4,812
Above-Market Lease Assets	236
Below-Market Lease Liabilities	0
Total Purchase Price	$30,952

RECENT_ACQUISITIONS_OF_REAL_ES4

RECENT ACQUISITIONS OF REAL ESTATE (Schedule of Finite-Lived Intangible Assets and Liabilities Acquired, Weighted-Average Amortization Periods) (Details)	12 Months Ended
	Dec. 31, 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
Tenant Origination and Absorption Costs [Member] \| Maitland Promenade II [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'5 years 6 months
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
Above-Market Lease Assets [Member] \| Maitland Promenade II [Member]	'
Business Acquisition [Line Items]	'
Weighted-average amortization periods	'8 years
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 (Undeveloped Land) (Details) (Investment in Undeveloped Land [Member], Park Highlands II [Member], USD $)	Dec. 10, 2013
In Millions, unless otherwise specified	acre
Investment in Undeveloped Land [Member] \| Park Highlands II [Member]	'
Business Acquisition [Line Items]	'
Area of land	295
Percent of controlling membership interest	99.50%
Consideration transferred	$20.30

RECENT_ACQUISITIONS_OF_REAL_ES6

RECENT ACQUISITIONS OF REAL ESTATE (Real Estate Acquired Through Foreclosure) (Details) (USD $)	Dec. 31, 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	$21,893,000	[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	'		'		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	1,549,000	[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]	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.
[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)

Dec. 31, 2013

Mar. 14, 2012

Dec. 31, 2013

sqft

Office Properties [Member]

Office Campus [Member]

Office Buildings, Campus [Member]

Office Portfolio [Member]

Office Buildings, Portfolio [Member]

Undeveloped Land, Portfolio [Member]

Office Properties, Portfolio [Member]

Retail Property, Portfolio [Member]

Apartment Property [Member]

Undeveloped Land [Member]

properties

Portfolios

properties

acre

properties

sqft

1180 Raymond [Member]

acre

properties

Multifamily Tower [Member]

Units

Real Estate Properties [Line Items]

Number of real estate properties

Real estate area of undeveloped land

1,670

Number of units in real estate property

317

Rentable square feet

4,100,000

300,000

Percentage of portfolio occupied

72.00%

71.00%

REAL_ESTATE_HELD_FOR_INVESTMEN3

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

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 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]

Powers Ferry Landing East [Member]

Bellevue Technology Center [Member]

West Loop I & II [Member]

Burbank Collection [Member]

Richardson Portfolio [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Park Highlands [Member]

1800 West Loop [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Park Highlands II [Member]

Maitland Promenade II [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]

Powers Ferry Landing East [Member]

Bellevue Technology Center [Member]

West Loop I & II [Member]

Burbank Collection [Member]

Richardson Portfolio [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Park Highlands [Member]

1800 West Loop [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Park Highlands II [Member]

Maitland Promenade II [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]

Powers Ferry Landing East [Member]

Bellevue Technology Center [Member]

West Loop I & II [Member]

Burbank Collection [Member]

Richardson Portfolio [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Park Highlands [Member]

1800 West Loop [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Park Highlands II [Member]

Maitland Promenade II [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]

Powers Ferry Landing East [Member]

Bellevue Technology Center [Member]

West Loop I & II [Member]

Burbank Collection [Member]

Richardson Portfolio [Member]

Palisades Central I [Member]

Palisades Central II [Member]

Greenway I [Member]

Greenway III [Member]

Undeveloped Land [Member]

Park Highlands [Member]

1800 West Loop [Member]

Austin Suburban Portfolio [Member]

Westmoor Center [Member]

Central Building [Member]

50 Congress Street [Member]

1180 Raymond [Member]

Park Highlands II [Member]

Maitland Promenade II [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

24-Sep-12

31-Jul-12

7-Dec-12

12-Dec-12

23-Nov-11

30-Dec-11

4-Dec-12

28-Mar-13

12-Jun-13

10-Jul-13

11-Jul-13

20-Aug-13

10-Dec-13

18-Dec-13

Total real estate, cost

$668,018

[1]

$307,646

$1,274

[1]

$3,300

[1]

$7,988

[1]

$21,513

[1]

$7,768

[1]

$7,135

[1]

$79,378

[1]

$38,796

[1]

$13,016

[1]

$45,471

[1]

$11,454

[1]

$19,145

[1]

$2,741

[1]

$5,470

[1]

$6,661

[1]

$26,287

[1]

$70,237

[1]

$77,687

[1]

$83,741

[1]

$33,227

[1]

$53,531

[1]

$46,668

[1]

$20,285

[1]

$30,716

[1]

$159,918

$88,794

$322

$1,291

$2,234

$2,670

$3,112

$1,642

$25,506

$7,300

$4,175

$9,771

$1,037

$810

$561

$702

$6,661

$26,287

$8,360

$8,288

$10,058

$7,015

$9,876

$8,292

$20,285

$3,434

$460,088

$197,443

$952

$2,009

$5,754

$18,652

$4,508

$5,289

$50,059

$27,903

$7,765

$31,511

$9,099

$16,408

$2,180

$3,824

$56,168

$64,178

$63,566

$23,848

$39,813

$35,643

$22,470

$48,012

$21,409

$191

$148

$204

$3,813

$3,593

$1,076

$4,189

$1,318

$1,927

$944

$5,709

$5,221

$10,117

$2,364

$3,842

$2,733

$4,812

Accumulated depreciation and amortization

-29,859

-7,615

-626

-1,821

-493

-298

-3,188

-2,697

-490

-5,626

-1,551

-2,902

-208

-965

-3,678

-3,627

-3,231

-742

-1,543

-1,716

-83

Total real estate, net

$638,159

$300,031

$1,274

$3,300

$7,362

$19,692

$7,275

$6,837

$76,190

$36,099

$12,526

$39,845

$9,903

$16,243

$2,533

$4,505

$6,661

$26,287

$66,559

$74,060

$80,510

$32,485

$51,988

$44,952

$20,285

$30,633

Ownership %

100.00%

70.00%

100.00%

90.00%

50.10%

100.00%

99.50%

100.00%

[1]

Amounts are net of impairment charges. See bbImpairment of Real Estateb below.

REAL_ESTATE_HELD_FOR_INVESTMEN4

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
	Tenants	Dec. 31, 2012	Dec. 31, 2011
Operating Leased Assets [Line Items]	'	'	'
Deferred rent recognized	$4,600,000	$1,800,000	$200,000
Deferred rent receivables	7,800,000	2,200,000	'
Number of tenants	400	'	'
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 8 months 12 days	'	'
Other Liabilities [Member]	'	'	'
Operating Leased Assets [Line Items]	'	'	'
Security deposit liability	$3,500,000	$1,400,000	'

REAL_ESTATE_HELD_FOR_INVESTMEN5

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Real Estate [Abstract]	'
2014	$51,770
2015	51,340
2016	44,544
2017	34,405
2018	25,775
Thereafter	45,638
Future minimum rental income	$253,472

REAL_ESTATE_HELD_FOR_INVESTMEN6

REAL ESTATE HELD FOR INVESTMENT (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
	Tenants
Concentration Risk [Line Items]	'
Number of Tenants	400
Annualized Base Rent	$19,775	[1]
Percentage of Annualized Base Rent	32.10%
Industry - Finance and Insurance [Member]	'
Concentration Risk [Line Items]	'
Number of Tenants	23
Annualized Base Rent	6,803	[1]
Percentage of Annualized Base Rent	11.10%
Industry - Professional, Scientific and Legal [Member]	'
Concentration Risk [Line Items]	'
Number of Tenants	47
Annualized Base Rent	6,672	[1]
Percentage of Annualized Base Rent	10.80%
Industry - Finance [Member]	'
Concentration Risk [Line Items]	'
Number of Tenants	30
Annualized Base Rent	$6,300	[1]
Percentage of Annualized Base Rent	10.20%

[1]	Annualized base rent represents annualized contractual base rental income as of DecemberB 31, 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)	12 Months Ended
	Dec. 31, 2013
Concentration Risk [Line Items]	'
Concentration risk, percentage	32.10%
TEXAS [Member] \| Assets, Total [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	27.90%
WASHINGTON [Member] \| Assets, Total [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	14.00%
COLORADO [Member] \| Assets, Total [Member]	'
Concentration Risk [Line Items]	'
Concentration risk, percentage	10.80%

REAL_ESTATE_HELD_FOR_INVESTMEN8

REAL ESTATE HELD FOR INVESTMENT (Impairment of Real Estate) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate Properties [Line Items]	'	'	'
Impairment charges on real estate held for investment	$1,433	$0	$0
Village Overlook Buildings [Member]	'	'	'
Real Estate Properties [Line Items]	'	'	'
Impairment charges on real estate held for investment	500	'	'
Academy Point Atrium I [Member]	'	'	'
Real Estate Properties [Line Items]	'	'	'
Impairment charges on real estate held for investment	$900	'	'

TENANT_ORIGINATION_AND_ABSORPT2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Acquired Finite-Lived Intangible Assets [Line Items]	'	'	'
Amortization	($138)	($1,088)	($613)
Tenant Origination and Absorption Costs [Member]	'	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'	'
Cost	48,012	21,409	'
Accumulated Amortization	-10,751	-2,777	'
Net Amount	37,261	18,632	'
Amortization	-10,942	-3,689	-1,644
Above-Market Lease Assets [Member]	'	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'	'
Cost	4,394	3,179	'
Accumulated Amortization	-1,459	-895	'
Net Amount	2,935	2,284	'
Amortization	-1,456	-1,095	-574
Below-Market Lease Liabilities [Member]	'	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'	'
Cost	-5,955	-2,157	'
Accumulated Amortization	1,535	126	'
Net Amount	-4,420	-2,031	'
Amortization	$1,565	$229	$39

TENANT_ORIGINATION_AND_ABSORPT3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Remaining Unamortized Balance) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Tenant Origination and Absorption Costs [Member]	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
2014	($11,965)	'
2015	-8,857	'
2016	-6,405	'
2017	-4,002	'
2018	-2,418	'
Thereafter	-3,614	'
Net Amount	-37,261	-18,632
Weighted-Average Remaining Amortization Period	'4 years 4 months 24 days	'
Above-Market Lease Assets [Member]	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
2014	-1,012	'
2015	-736	'
2016	-552	'
2017	-309	'
2018	-154	'
Thereafter	-172	'
Net Amount	-2,935	-2,284
Weighted-Average Remaining Amortization Period	'3 years 10 months 24 days	'
Below-Market Lease Liabilities [Member]	'	'
Acquired Finite-Lived Intangible Assets [Line Items]	'	'
2014	1,683	'
2015	1,160	'
2016	700	'
2017	376	'
2018	185	'
Thereafter	316	'
Net Amount	$4,420	$2,031
Weighted-Average Remaining Amortization Period	'3 years 9 months 18 days	'

REAL_ESTATE_LOANS_RECEIVABLE_S

REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) (USD $)

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Aug. 30, 2013

University House First Mortgage [Member]

1180 Raymond First Mortgage [Member]

Ponte Palmero First Mortgage [Member]

Mortgages [Member]

Nonperforming Financing Receivable [Member]

Mortgages [Member]

Ponte Palmero First Mortgage [Member]

Accounts, Notes, Loans and Financing Receivable [Line Items]

Date Acquired/ Originated

20-Mar-13

14-Mar-12

[1]

13-Sep-12

[2]

Outstanding Principal Balance

$22,000,000

[3]

$22,000,000

[3]

[1],[3]

[2],[3]

Book Value

21,893,000

[4]

71,906,000

[4]

21,893,000

[4]

[1],[4]

35,678,000

[1],[4]

[2],[4]

36,228,000

[2],[4]

Contractual Interest Rate

11.00%

[5]

Annualized Effective Interest Rate

13.00%

[5]

Maturity Date

1-Apr-14

Proceeds from early retirement of debt

37,700,000

Anticipated prepayment fee

4,000,000

Interest income from real estate loans receivable

$10,276,000

$1,708,000

$311,000

$1,300,000

[1]

See Note 3 bRecent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosureb.

[2]

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 the earliest prepayment date allowable in accordance with the loan agreement. The exit fee and additional interest are included in interest income from real estate loans receivable in the accompanying consolidated statements of operations.

[3]

Outstanding principal balance as of DecemberB 31, 2013 represents original principal balance outstanding under the loan, increased for any subsequent fundings, including interest income deferred until maturity.

[4]

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.

[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 DecemberB 31, 2013.

REAL_ESTATE_LOANS_RECEIVABLE_S1

REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013
Real Estate Loans Receivable [Roll Forward]	'
Real estate loan 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 origination of real estate loan receivable	-432
Deferred interest receivable and interest accretion	2,393
Accretion of closing costs and origination fees on real estate loans receivable, net	842
Real estate loan receivable - December 31, 2013	$21,893	[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 $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Receivables [Abstract]	'	'	'
Contractual interest income	$8,248	$1,202	$311
Interest accretion	1,186	454	0
Accretion of closing costs and origination fees, net	842	52	0
Interest income from real estate loans receivable	$10,276	$1,708	$311

REAL_ESTATE_SECURITIES_Narrati

REAL ESTATE SECURITIES (Narrative) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Real Estate Securities [Abstract]	'	'
Fixed rate CMBS	$333	$4,817
Unrealized gains	$4	'

REAL_ESTATE_SECURITIES_Schedul

REAL ESTATE SECURITIES (Schedule of Investments in CMBS) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Schedule of Available-for-sale Securities [Line Items]	'	'
Amortized Cost Basis	$342	$4,830
Unrealized Gains (Losses)	-9	-13
Fair Value	333	4,817
CMBS [Member] \| Standard & Poor's, AAA Rating [Member]	'	'
Schedule of Available-for-sale Securities [Line Items]	'	'
Coupon Rate	4.54%	'
Face Amount	333	'
Amortized Cost Basis	342	'
Unrealized Gains (Losses)	-9	'
Fair Value	$333	'

REAL_ESTATE_SECURITIES_Schedul1

REAL ESTATE SECURITIES (Schedule of Activity of Real Estate Securities) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
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	-4,452	-38,270	0
Unrealized gains, Unrealized Gain (Loss)	4	'	'
Amortization of premium on securities	-36	-819	0
Real estate securities, Amortized Cost Basis	342	4,830	'
Real estate securities, Unrealized Gain (Loss)	-9	-13	'
Real estate securities, Ending Balance	$333	$4,817	'

REAL_ESTATE_HELD_FOR_SALE_AND_2

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Narrative) (Details)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2013
	Office Building [Member]	Office Building [Member]	Four Parcels of Partially Improved Land [Member]	Four Parcels of Partially Improved Land [Member]	Industrial/Flex Property [Member]
	properties	properties	acre	parcels	Held-for-Sale [Member]
					properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'	'	'	'
Number of real estate properties disposed	3	1	'	4	1
Area of land	'	'	6	'	'

REAL_ESTATE_HELD_FOR_SALE_AND_3

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Operating Income from Discontinued Operations) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Discontinued Operations and Disposal Groups [Abstract]	'	'	'
Total revenues and other income	$1,387	$1,029	$377
Total expenses	2,754	2,645	560
Loss from discontinued operations before gain on sales of real estate	-1,367	-1,616	-183
Gain on sales of real estate, net	13,108	593	0
Total income (loss) from discontinued operations	$11,741	($1,023)	($183)

REAL_ESTATE_HELD_FOR_SALE_AND_4

REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Discontinued Operations and Disposal Groups [Abstract]	'	'
Total real estate, at cost and net of impairment charges	'	$18,508
Accumulated depreciation and amortization	'	-906
Real estate held for sale, net	0	17,602
Other assets	0	916
Total assets	'	18,518
Notes payable	0	4,340
Total liabilities	'	$4,340

NOTES_AND_BOND_PAYABLE_Narrati

NOTES AND BOND PAYABLE (Narrative) (Details) (USD $)	12 Months Ended
NOTES AND BOND PAYABLE (Narrative) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Notes and Bonds Payable [Abstract]	'	'	'
Interest expense	$2,706,000	$2,199,000	$281,000
Amortization of deferred financing costs, net of discontinued operations	700,000	300,000	21,000
Interest capitalized	2,718,000	'	'
Deferred finance costs	5,000,000	700,000	'
Interest payable	$500,000	$3,000	'

NOTES_AND_BOND_PAYABLE_Schedul

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

Dec. 31, 2013

Oct. 31, 2013

Dec. 31, 2012

Jan. 11, 2013

Nov. 23, 2011

Dec. 31, 2013

Nov. 23, 2011

Dec. 31, 2013

Dec. 31, 2012

Feb. 22, 2013

Dec. 31, 2013

Dec. 31, 2012

Feb. 22, 2013

Dec. 31, 2013

1-May-13

Dec. 31, 2013

Dec. 31, 2012

1-May-13

Oct. 31, 2013

Dec. 31, 2013

1-May-13

Oct. 31, 2013

Dec. 31, 2013

1-May-13

Dec. 31, 2013

Jun. 26, 2013

Dec. 31, 2013

Dec. 31, 2012

Oct. 31, 2013

Jun. 26, 2013

Dec. 31, 2013

Dec. 31, 2012

Jul. 24, 2013

Dec. 31, 2013

Jul. 24, 2013

Dec. 31, 2013

Sep. 10, 2013

Dec. 31, 2013

Dec. 31, 2012

Sep. 10, 2013

Dec. 31, 2013

Dec. 31, 2012

Sep. 25, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Nov. 13, 2013

Dec. 31, 2013

Nov. 11, 2013

Dec. 31, 2013

Sep. 10, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Mortgages [Member]

Richardson Portfolio [Member]

Bellevue Technology Center [Member]

Portfolio Revolving Loan Facility [Member]

Portfolio Mortgage Loan [Member]

1635 N. Cahuenga Building [Member]

Burbank Collection Mortgage Loan [Member]

50 Congress Mortgage Loan [Member]

1180 Raymond Bond [Member]

Central Building [Member]

Maitland Promenade II [Member]

Available for Future Disbursements [Member]

Available through October 1, 2016 [Member]

Richardson Joint Venture [Member]

Mortgages [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

Revolving Credit Facility [Member]

Non-Revolving Credit Facility [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

Mortgages [Member]

Secured Debt [Member]

One-month LIBOR [Member]

50 Congress Mortgage Loan [Member]

Maximum [Member]

Minimum [Member]

Beginning March 1, 2016 [Member]

Maximum [Member]

Mortgages [Member]

Beginning June 1, 2016 [Member]

Mortgages [Member]

Secured Debt [Member]

Beginning August 1, 2015 [Member]

Beginning November 1, 2016 [Member]

Mortgages [Member]

Debt Instrument [Line Items]

Notes payable

$46,100,000

$31,566,000

[1]

$33,751,000

[1]

$47,408,000

[2]

$53,000,000

$3,379,000

[3]

$82,766,000

[4]

$4,650,000

[5]

$8,200,000

[6]

$26,535,000

[7]

$24,100,000

$20,182,000

Bonds payable

7,085,000

[8]

Total Notes and Bond Payable principal outstanding

255,871,000

33,751,000

Premium on Bond Payable, net

1,549,000

[9]

Total notes payable and bond payable, net

257,420,000

33,751,000

Basis spread on variable rate

2.25%

[10],[2]

2.25%

[1],[10]

2.50%

[10],[4]

2.35%

[10],[5]

2.35%

[10],[6]

1.90%

[10],[7]

1.75%

[10]

2.90%

[10]

2.90%

[10]

Contractual interest rate, percentage

6.25%

6.50%

[8]

Interest rate, effective percentage

6.25%

[1],[10]

2.42%

[10],[2]

2.42%

[10],[3]

2.67%

[10],[4]

2.52%

[10],[5]

2.54%

[10],[6]

2.07%

[10],[7]

6.50%

[10],[8]

1.92%

[10]

3.25%

[10]

3.25%

[10]

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

[8]

'Interest Only

Maturity date

30-Nov-15

[1],[11]

1-Mar-17

[11],[2]

1-May-17

[11],[3]

1-Jul-17

[11],[4]

1-Aug-16

[11],[5]

30-Sep-16

[11],[6]

1-Oct-17

[11],[7]

1-Sep-36

[11],[8]

13-Nov-18

[11]

1-Jan-17

[11]

Term of credit facility

'4 years

'3 years

'4 years

'5 years

'3 years

Amount outstanding

29,500,000

31,600,000

47,400,000

3,400,000

82,800,000

4,700,000

8,200,000

26,500,000

24,100,000

20,200,000

Unused borrowing capacity, amount

107,600,000

16,600,000

8,300,000

5,600,000

77,800,000

59,500,000

29,800,000

9,600,000

24,800,000

2,000,000

3,000,000

6,300,000

3,500,000

2,800,000

Repayments of debt

5,200,000

2,800,000

Frequency of periodic payment

'Monthly

Principal amortization payment

60,000

80,000

7,000

32,000

Amortization schedule of mortgage loans on real estate

'30 years

Current capacity

72,500,000

120,000,000

6,700,000

11,200,000

3,300,000

3,000,000

Ownership interest

70.00%

90.00%

Maximum borrowing capacity

$59,500,000

$13,000,000

$32,900,000

$27,600,000

$23,000,000

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 DecemberB 31, 2013, the outstanding principal balance was $31.6 million and $8.3 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 DecemberB 31, 2013, $47.4 million had been disbursed to the Company and the remaining $5.6 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 DecemberB 31, 2013, $3.4 million of the non-revolving debt had been disbursed to the Company and the remaining $59.5 million of revolving debt and $9.6 million of non-revolving debt is available for future disbursements, subject to certain conditions contained in the loan documents. 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). On October 31, 2013, the Company sold two buildings in the Power Ferry Landing East property and repaid $2.8 million. In addition, the Portfolio Mortgage Loan borrowing capacity was reduced to $107.6 million, comprised of $77.8 million of revolving debt and the remaining $29.8 million of non-revolving debt available for tenant improvements, leasing commissions and capital improvements, subject to certain terms and conditions contained in the loan documents. As of DecemberB 31, 2013, $82.8 million had been disbursed to the Company with the remaining $24.8 million of non-revolving debt available for future disbursements, 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]

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 Company owns a 70% equity interest in the joint venture that owns the 1635 N. Cahuenga Building. As of DecemberB 31, 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. Monthly payments are initially interest only. 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.

[6]

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 Company owns a 90% equity interest in the joint venture that owns the Burbank Collection. As of DecemberB 31, 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. Monthly payments are interest only.

[7]

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. As of DecemberB 31, 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. 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.

[8]

See Note 3 bRecent Acquisitions of Real Estate - Real Estate Acquired Through Foreclosure.b

[9]

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.

[10]

Contractual interest rate represents the interest rate in effect under the loan as of DecemberB 31, 2013. Effective interest rate is calculated as the actual interest rate in effect as of DecemberB 31, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at DecemberB 31, 2013, where applicable.

[11]

Represents the initial maturity date or the maturity date as extended as of DecemberB 31, 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 $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Notes and Bonds Payable [Abstract]	'
2014	$140
2015	31,751
2016	14,991
2017	178,429
2018	24,280
Thereafter	6,280
Notes and bond payable outstanding	$255,871

FAIR_VALUE_DISCLOSURES_Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Mortgage loans on real estate	$22,000	$92,334
Notes and bond payable, Face Value	255,871	33,751
Carrying Amount [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate loans receivable, Value	21,893	71,906
Notes and bond payable, Value	257,420	33,751
Fair Value [Member]	'	'
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'	'
Real estate loans receivable, Value	22,000	70,750
Notes and bond payable, Value	$258,876	$35,928

FAIR_VALUE_DISCLOSURES_Schedul1

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) (USD $)	Dec. 31, 2013
In Thousands, unless otherwise specified	Dec. 31, 2013
Recurring Basis [Member] \| CMBS [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	$333
Recurring Basis [Member] \| CMBS [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] \| CMBS [Member] \| Significant Other Observable Inputs (Level 2) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Assets, fair value	333
Recurring Basis [Member] \| CMBS [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] \| Impaired Real Estate Held for Investment [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	4,700
Nonrecurring Basis [Member] \| Impaired Real Estate Held for Investment [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] \| Impaired Real Estate Held for Investment [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] \| Impaired Real Estate Held for Investment [Member] \| Significant Unobservable Inputs (Level 3) [Member]	'
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]	'
Liabilities, fair value	4,700
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_Narrati

FAIR VALUE DISCLOSURES (Narrative) (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Number of properties held for investment	2
Real Estate Properties Held for Investment One [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Terminal capitalization rates	9.00%
Real Estate Properties Held for Investment Two [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Terminal capitalization rates	10.00%
1180 Raymond [Member]	'
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
1180 Raymond [Member] \| Discounted Cash Flow [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Discount rate	4.25%
1180 Raymond [Member] \| Discounted Cash Flow [Member] \| Property Tax Abatement Intangible Asset [Member]	'
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]	'
Discount rate	9.00%

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Related Party Transaction [Line Items]	'		'		'
Payable as of	$0		$21		'
Administrative fees, amount paid	134		103		60
Advisor and Dealer Manager [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Incurred	7,837		37,804		17,927
Payable as of	0		21		'
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Asset Management Fees [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Expenses	4,173		1,710		328
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Real Estate Acquisition Fee [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Expenses	2,784		2,206		460
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Reimbursement of Operating Expenses [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Expenses	139	[1]	118	[1]	60	[1]
Payable as of	0	[1]	21	[1]	'
Advisor and Dealer Manager [Member] \| Expensed [Member] \| Dispositon Fees [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Expenses	322		21		0
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Sales Commissions [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Incurred	0		20,683		9,431
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Dealer Manager Fees [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Incurred	0		10,451		4,893
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Additional Paid-in Capital [Member] \| Reimbursable Other Offering Costs [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Incurred	0		1,825		2,450
Payable as of	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	220		790		199
Payable as of	0		0		'
Advisor and Dealer Manager [Member] \| Capitalized [Member] \| Acquisition Fee on Undeveloped Land [Member]	'		'		'
Related Party Transaction [Line Items]	'		'		'
Incurred	199		0		106
Payable as of	$0		$0		'

[1]	Amounts include asset management fees from discontinued operations.

INVESTMENT_IN_UNCONSOLIDATED_J2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments in Unconsolidated Joint Ventures) (Details) (USD $)	Dec. 31, 2013	Dec. 23, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 23, 2013	Dec. 31, 2012
Schedule of Equity Method Investments [Line Items]	'	'	'
Investment Balance	$16,338	'	$7,926
OCM NIP JV Holdings, L.P. and HC KBS NIP JV, LLC (bHC-KBSb) [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Number of Properties	23,000	'	'
Investment Balance	7,484	'	7,926
OCM NIP JV Holdings, L.P. and HC KBS NIP JV, LLC (bHC-KBSb) [Member] \| Maximum [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Ownership %	5.00%	'	'
110 William Joint Venture [Member]	'	'	'
Schedule of Equity Method Investments [Line Items]	'	'	'
Ownership %	60.00%	60.00%	'
Investment Balance	$8,854	'	$0

INVESTMENT_IN_UNCONSOLIDATED_J3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Narrative) (Details) (USD $)

12 Months Ended

0 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

18-May-12

Dec. 23, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 23, 2013

18-May-12

Dec. 31, 2013

sqft

NIP Joint Venture [Member]

110 William Joint Venture [Member]

Industrial [Member]

Maximum [Member]

properties

sqft

110 William JV Partner [Member]

NIP Joint Venture [Member]

properties

Schedule of Equity Method Investments [Line Items]

Number of real estate properties

23,000

Rentable square feet

4,100,000

11,400,000

928,157

Area of land

0.8

Initial capital contribution

$9,000,000

$8,000,000

$9,000,000

Initial deposit

15,000,000

Ownership interest

60.00%

5.00%

Noncontrolling interest

40.00%

Investments in unconsolidated joint ventures

16,338,000

7,926,000

7,484,000

7,926,000

8,854,000

Income (loss) from unconsolidated joint venture

95,000

116,000

100,000

-100,000

Return of capital from the joint venture

$400,000

$100,000

PRO_FORMA_FINANCIAL_INFORMATIO2

PRO FORMA FINANCIAL INFORMATION (Narrative) (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Business Acquisition [Line Items]	'
Business combination and acquisition cost expensed	$4
Office Portfolio [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties	1
Office Campus [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties	1
Office Buildings, Campus [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties	9
Apartment Property [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties	1
Austin Suburban Portfolio [Member] \| Office Portfolio [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties acquired	1
Austin Suburban Portfolio [Member] \| Office Property [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties acquired	3
Westmoor Center [Member] \| Office Property [Member]	'
Business Acquisition [Line Items]	'
Number of real estate properties acquired	4
Bellevue Technology Center, Powers Ferry Landing East, 1800 West Loop and West Loop I & II [Member]	'
Business Acquisition [Line Items]	'
Business combination and acquisition cost expensed	$2.80

PRO_FORMA_FINANCIAL_INFORMATIO3

PRO FORMA FINANCIAL INFORMATION (Unaudited Pro Forma Basis) (Details) (Bellevue Technology Center, Powers Ferry Landing East, 1800 West Loop and West Loop I & II [Member], USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Bellevue Technology Center, Powers Ferry Landing East, 1800 West Loop and West Loop I & II [Member]	'	'
Business Acquisition [Line Items]	'	'
Revenues	$78,935	$43,766
Depreciation and amortization	32,723	15,002
Net income (loss) attributable to common stockholders	$14,348	($6,431)
Net income (loss) per common share, basic and diluted	$0.24	($0.11)
Weighted-average number of common shares outstanding, basic and diluted	59,619,000	58,836,153

SELECTED_QUARTERLY_FINANCIAL_D2

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) (USD $)	3 Months Ended																12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Nov. 11, 2013	Mar. 20, 2013	Jul. 20, 2012	Apr. 16, 2012	Feb. 13, 2012
Quarterly Financial Information Disclosure [Abstract]	'		'		'		'		'		'		'		'		'	'	'	'	'	'	'	'
Revenues	$20,391		$23,281		$14,361		$10,463		$7,775		$4,509		$3,166		$3,430		$68,496	$18,880	$3,901	'	'	'	'	'
Net income (loss)	5,017		7,260		-2,429		1,741		-2,922		-3,660		-2,808		-705		11,589	-10,095	-7,799	'	'	'	'	'
Net income (loss) attributable to common stockholders	$5,081		$7,344		($2,343)		$1,411		($2,770)		($3,499)		($2,710)		($783)		$11,493	($9,762)	($7,581)	'	'	'	'	'
Net income (loss) per common share, basic and diluted	$0.09		$0.13		($0.04)		$0.02		($0.05)		($0.10)		($0.09)		($0.03)		$0.20	($0.28)	($0.66)	'	'	'	'	'
Distributions declared per common share	$0.38	[1]	$0	[1]	$0	[1]	$0.06	[1]	$0	[1]	$0.35	[1]	$0.03	[1]	$0.02	[1]	$0.44	$0.40	$0.30	'	'	'	'	'
Distributions authorized per common share	'		'		'		'		'		'		'		'		'	'	'	$0.38	$0.06	$0.35	$0.03	$0.02

[1]	On February 13, 2012, the Companybs board of directors authorized a distribution in the amount of $0.02309337 per share of common stock to stockholders of record as of the close of business on February 14, 2012. The Company paid this distribution on February 17, 2012. On April 16, 2012, the Companybs board of directors authorized a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on April 16, 2012. The Company paid this distribution on April 30, 2012. On July 20, 2012, the Companybs board of directors authorized a distribution in the amount of $0.35190663 per share of common stock to stockholders of record as of the close of business on July 20, 2012. The Company paid this distribution on July 31, 2012. On March 20, 2013, our board of directors authorized a distribution in the amount of $0.06153498 per share of common stock to stockholders of record as of the close of business on March 22, 2013. The CompanyB paid this distribution on April 4, 2013. On November 11, 2013, our board of directors authorized a distribution in the amount of $0.38 per share of common stock to stockholders of record as of the close of business on November 13, 2013. The CompanyB paid this distribution on December 5, 2013. Investors could choose to receive cash distributions or purchase additional shares under the dividend reinvestment plan.

EARNINGS_PER_SHARE_Details

EARNINGS PER SHARE (Details) (USD $)	3 Months Ended								12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2012	Sep. 30, 2012	Jun. 30, 2012	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Earnings Per Share [Abstract]	'	'	'	'	'	'	'	'	'	'	'
Loss from continuing operations	'	'	'	'	'	'	'	'	($152)	($9,072)	($7,616)
Loss from continuing operations attributable to noncontrolling interests	'	'	'	'	'	'	'	'	302	232	216
Income (loss) from continuing operations attributable to common stockholders	'	'	'	'	'	'	'	'	150	-8,840	-7,400
Total income (loss) from discontinued operations	'	'	'	'	'	'	'	'	11,741	-1,023	-183
Total (income) loss from discontinued operations attributable to noncontrolling interests	'	'	'	'	'	'	'	'	-398	101	2
Total income (loss) from discontinued operations attributable to common stockholders	'	'	'	'	'	'	'	'	11,343	-922	-181
Net income (loss) attributable to common stockholders	$5,081	$7,344	($2,343)	$1,411	($2,770)	($3,499)	($2,710)	($783)	$11,493	($9,762)	($7,581)
Weighted-average number of common shares outstanding, basic and diluted	'	'	'	'	'	'	'	'	58,359,568	35,458,656	11,432,823
Basic and diluted income (loss) per common share:	'	'	'	'	'	'	'	'	'	'	'
Continuing operations	'	'	'	'	'	'	'	'	$0	($0.25)	($0.65)
Discontinued operations	'	'	'	'	'	'	'	'	$0.20	($0.03)	($0.01)
Net income (loss) per common share	$0.09	$0.13	($0.04)	$0.02	($0.05)	($0.10)	($0.09)	($0.03)	$0.20	($0.28)	($0.66)

SUBSEQUENT_EVENTS_Westmoor_Cen

SUBSEQUENT EVENTS (Westmoor Center First Mortgage Loan) (Details) (USD $)	Oct. 31, 2013	Jan. 08, 2014	Jan. 08, 2014
In Millions, unless otherwise specified		Subsequent Event [Member]	Subsequent Event [Member]
		Westmoor Center First Mortgage Loan [Member]	Westmoor Center First Mortgage Loan [Member]
		Mortgages [Member]	Mortgages [Member]
		Secured Debt [Member]	Secured Debt [Member]
			One-month LIBOR [Member]
Subsequent Event [Line Items]	'	'	'
Term of credit facility	'	'4 years	'
Current capacity	'	$62	'
Amount outstanding	'	54.9	'
Unused borrowing capacity, amount	$107.60	$7.10	'
Basis spread on variable rate	'	'	2.25%	[1]
Frequency of periodic payment	'	'monthly	'
Amortization schedule of mortgage loans on real estate	'	'30 years	'
Interest rate during period	'	6.50%	'

[1]	Contractual interest rate represents the interest rate in effect under the loan as of DecemberB 31, 2013. Effective interest rate is calculated as the actual interest rate in effect as of DecemberB 31, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at DecemberB 31, 2013, where applicable.

SUBSEQUENT_EVENTS_Plaza_Buildi

SUBSEQUENT EVENTS (Plaza Buildings) (Details) (USD $)	Dec. 31, 2013	Oct. 31, 2013	Jan. 14, 2014	Jan. 14, 2014		Jan. 14, 2014	Jan. 14, 2014		Jan. 14, 2014	Jan. 14, 2014
In Millions, unless otherwise specified	Tenants		Subsequent Event [Member]	Subsequent Event [Member]		Subsequent Event [Member]	Subsequent Event [Member]		Subsequent Event [Member]	Subsequent Event [Member]
			Mortgages [Member]	Mortgages [Member]		Mortgages [Member]	Mortgages [Member]		Plaza Building [Member]	Plaza Building [Member]
			Secured Debt [Member]	Secured Debt [Member]		Secured Debt [Member]	Secured Debt [Member]		Tenants	Office Building [Member]
			Plaza Buildings Mortgage Loan [Member]	Plaza Buildings Mortgage Loan [Member]		Plaza Buildings Mezzanine Loan [Member]	Plaza Buildings Mezzanine Loan [Member]		acre	properties
				One-month LIBOR [Member]			One-month LIBOR [Member]		sqft
Subsequent Event [Line Items]	'	'	'	'		'	'		'	'
Number of real estate properties acquired	'	'	'	'		'	'		'	2
Basis spread on variable rate	'	'	'	1.90%	[1]	'	7.85%	[1]	'	'
Amortization schedule of mortgage loans on real estate	'	'	'30 years	'		'	'		'	'
Rentable square footage	'	'	'	'		'	'		490,096	'
Area of land	'	'	'	'		'	'		4.1	'
Consideration transferred	'	'	'	'		'	'		$186.50	'
Percent of property leased	'	'	'	'		'	'		81.00%	'
Number of tenants	400	'	'	'		'	'		52	'
Term of credit facility	'	'	'3 years	'		'3 years	'		'	'
Current capacity	'	'	111	'		30	'		'	'
Amount outstanding	'	'	108	'		25	'		'	'
Unused borrowing capacity, amount	'	$107.60	$3	'		$5	'		'	'
Frequency of periodic payment	'	'	'monthly	'		'	'		'	'
Interest rate during period	'	'	6.50%	'		'	'		'	'

[1]	Contractual interest rate represents the interest rate in effect under the loan as of DecemberB 31, 2013. Effective interest rate is calculated as the actual interest rate in effect as of DecemberB 31, 2013 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at DecemberB 31, 2013, where applicable.

SUBSEQUENT_EVENTS_424_Bedford_

SUBSEQUENT EVENTS (424 Bedford) (Details) (Subsequent Event [Member], 424 Bedford [Member], USD $)	0 Months Ended
In Millions, unless otherwise specified	Jan. 31, 2014
	Units
Subsequent Event [Member] \| 424 Bedford [Member]	'
Subsequent Event [Line Items]	'
Number of units in real estate property	66
Percent of property leased	97.00%
Consideration transferred	$39.80
Assumption of debt	$26.30
Interest rate during period	3.91%
Amortization schedule of mortgage loans on real estate	'30 years
Ownership interest	90.00%

SUBSEQUENT_EVENTS_Approval_and

SUBSEQUENT EVENTS (Approval and Temporary One-Month Suspension of Fourth Amended and Restated Share Redemption Program) (Details) (Fourth Amended and Restated Share Redemption Program [Member], USD $)	12 Months Ended						0 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013	Feb. 14, 2014	Feb. 14, 2014	Feb. 14, 2014	Feb. 14, 2014	Feb. 14, 2014
	Common Stock [Member]	Held for One Year [Member]	Held for Two Years [Member]	Held for Three Years [Member]	Held for Four Years [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]	Subsequent Event [Member]
							Held for One Year [Member]	Held for Two Years [Member]	Held for Three Years [Member]	Held for Four Years [Member]
Subsequent Event [Line Items]	'	'	'	'	'	'	'	'	'	'
Redemption price percentage of most recent estimated value per share	'	92.50%	95.00%	97.50%	100.00%	'	92.50%	95.00%	97.50%	100.00%
Estimated value per share of company's common stock	'	'	'	'	'	$10	'	'	'	'
Stock repurchased during period, value	$1	'	'	'	'	'	'	'	'	'
Percent of weighted-average number of shares outstanding redeemed during period	5.00%	'	'	'	'	'	'	'	'	'

SUBSEQUENT_EVENTS_Distribution

SUBSEQUENT EVENTS (Distribution Declared) (Details) (USD $)

3 Months Ended

12 Months Ended

0 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 06, 2014

Jan. 24, 2014

Subsequent Event [Member]

Subsequent Event [Line Items]

Distributions declared per common share

$0.38

[1]

$0.06

[1]

$0.35

[1]

$0.03

[1]

$0.02

[1]

$0.44

$0.40

$0.30

$0.05

Distribution rate per share annualized, declared, based on purchase price

2.00%

Purchase price per share

$10

[1]

SCHEDULE_III_REAL_ESTATE_ASSET1

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Details) (USD $)	12 Months Ended
	Dec. 31, 2013
Real Estate and Accumulated Depreciation [Line Items]	'
Aggregate cost of real estate for federal income tax purposes	$687,600,000
Debt, outstanding amount	255,871,000
Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Initial Cost to Company, Land	153,919,000
Initial Cost to Company, Building and Improvements	488,603,000	[1]
Initial Cost to Company, Total	642,522,000
Cost Capitalized Subsequent to Acquisition	25,496,000	[2]
Gross Amount at which Carried at Close of Period, Land	159,918,000
Gross Amount at which Carried at Close of Period, Building and Improvements	508,100,000	[1]
Gross Amount at which Carried at Close of Period, Total	668,018,000	[3]
Accumulated Depreciation and Amortization	-29,859,000
Village Overlook Buildings [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	0
Initial Cost to Company, Land	440,000
Initial Cost to Company, Building and Improvements	1,332,000	[1]
Initial Cost to Company, Total	1,772,000
Cost Capitalized Subsequent to Acquisition	-498,000	[2]
Gross Amount at which Carried at Close of Period, Land	322,000
Gross Amount at which Carried at Close of Period, Building and Improvements	952,000	[1]
Gross Amount at which Carried at Close of Period, Total	1,274,000	[3]
Accumulated Depreciation and Amortization	0
Original Date of Construction	'1993
Date Acquired	2-Aug-10
Academy Point Atrium I [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	0
Initial Cost to Company, Land	1,650,000
Initial Cost to Company, Building and Improvements	1,223,000	[1]
Initial Cost to Company, Total	2,873,000
Cost Capitalized Subsequent to Acquisition	427,000	[2]
Gross Amount at which Carried at Close of Period, Land	1,291,000
Gross Amount at which Carried at Close of Period, Building and Improvements	2,009,000	[1]
Gross Amount at which Carried at Close of Period, Total	3,300,000	[3]
Accumulated Depreciation and Amortization	0
Original Date of Construction	'1981
Date Acquired	3-Nov-10
Northridge Center I & II [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	2,234,000
Initial Cost to Company, Building and Improvements	4,457,000	[1]
Initial Cost to Company, Total	6,691,000
Cost Capitalized Subsequent to Acquisition	1,297,000	[2]
Gross Amount at which Carried at Close of Period, Land	2,234,000
Gross Amount at which Carried at Close of Period, Building and Improvements	5,754,000	[1]
Gross Amount at which Carried at Close of Period, Total	7,988,000	[3]
Accumulated Depreciation and Amortization	-626,000
Original Date of Construction	'1985/1989
Date Acquired	25-Mar-11
Iron Point Business Park [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	2,671,000
Initial Cost to Company, Building and Improvements	16,576,000	[1]
Initial Cost to Company, Total	19,247,000
Cost Capitalized Subsequent to Acquisition	2,266,000	[2]
Gross Amount at which Carried at Close of Period, Land	2,670,000
Gross Amount at which Carried at Close of Period, Building and Improvements	18,843,000	[1]
Gross Amount at which Carried at Close of Period, Total	21,513,000	[3]
Accumulated Depreciation and Amortization	-1,821,000
Original Date of Construction	'1999/2001
Date Acquired	21-Jun-11
1635 N. Cahuenga Building [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	70.00%
Encumbrances	4,650,000
Initial Cost to Company, Land	3,112,000
Initial Cost to Company, Building and Improvements	4,245,000	[1]
Initial Cost to Company, Total	7,357,000
Cost Capitalized Subsequent to Acquisition	411,000	[2]
Gross Amount at which Carried at Close of Period, Land	3,112,000
Gross Amount at which Carried at Close of Period, Building and Improvements	4,656,000	[1]
Gross Amount at which Carried at Close of Period, Total	7,768,000	[3]
Accumulated Depreciation and Amortization	-493,000
Original Date of Construction	'1983
Date Acquired	3-Aug-11
Richardson Portfolio [Member] \| Secured Debt [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Debt, outstanding amount	31,600,000
Richardson Portfolio [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Encumbrances	31,566,000
Initial Cost to Company, Land	8,610,000
Initial Cost to Company, Building and Improvements	30,998,000	[1]
Initial Cost to Company, Total	39,608,000
Cost Capitalized Subsequent to Acquisition	5,863,000	[2]
Gross Amount at which Carried at Close of Period, Land	9,771,000
Gross Amount at which Carried at Close of Period, Building and Improvements	35,700,000	[1]
Gross Amount at which Carried at Close of Period, Total	45,471,000	[3]
Accumulated Depreciation and Amortization	-5,626,000
Palisades Central I [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Initial Cost to Company, Land	1,037,000
Initial Cost to Company, Building and Improvements	8,628,000	[1]
Initial Cost to Company, Total	9,665,000
Cost Capitalized Subsequent to Acquisition	1,789,000	[2]
Gross Amount at which Carried at Close of Period, Land	1,037,000
Gross Amount at which Carried at Close of Period, Building and Improvements	10,417,000	[1]
Gross Amount at which Carried at Close of Period, Total	11,454,000	[3]
Accumulated Depreciation and Amortization	-1,551,000
Original Date of Construction	'1980
Date Acquired	23-Nov-11
Palisades Central II [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Initial Cost to Company, Land	810,000
Initial Cost to Company, Building and Improvements	17,117,000	[1]
Initial Cost to Company, Total	17,927,000
Cost Capitalized Subsequent to Acquisition	1,218,000	[2]
Gross Amount at which Carried at Close of Period, Land	810,000
Gross Amount at which Carried at Close of Period, Building and Improvements	18,335,000	[1]
Gross Amount at which Carried at Close of Period, Total	19,145,000	[3]
Accumulated Depreciation and Amortization	-2,902,000
Original Date of Construction	'1985
Date Acquired	23-Nov-11
Greenway I [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Initial Cost to Company, Land	561,000
Initial Cost to Company, Building and Improvements	1,170,000	[1]
Initial Cost to Company, Total	1,731,000
Cost Capitalized Subsequent to Acquisition	1,010,000	[2]
Gross Amount at which Carried at Close of Period, Land	561,000
Gross Amount at which Carried at Close of Period, Building and Improvements	2,180,000	[1]
Gross Amount at which Carried at Close of Period, Total	2,741,000	[3]
Accumulated Depreciation and Amortization	-208,000
Original Date of Construction	'1983
Date Acquired	23-Nov-11
Greenway III [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Initial Cost to Company, Land	702,000
Initial Cost to Company, Building and Improvements	4,083,000	[1]
Initial Cost to Company, Total	4,785,000
Cost Capitalized Subsequent to Acquisition	685,000	[2]
Gross Amount at which Carried at Close of Period, Land	702,000
Gross Amount at which Carried at Close of Period, Building and Improvements	4,768,000	[1]
Gross Amount at which Carried at Close of Period, Total	5,470,000	[3]
Accumulated Depreciation and Amortization	-965,000
Original Date of Construction	'1983
Date Acquired	23-Nov-11
Undeveloped Land [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Initial Cost to Company, Land	5,500,000
Initial Cost to Company, Building and Improvements	0	[1]
Initial Cost to Company, Total	5,500,000
Cost Capitalized Subsequent to Acquisition	1,161,000	[2]
Gross Amount at which Carried at Close of Period, Land	6,661,000
Gross Amount at which Carried at Close of Period, Building and Improvements	0	[1]
Gross Amount at which Carried at Close of Period, Total	6,661,000	[3]
Accumulated Depreciation and Amortization	0
Date Acquired	23-Nov-11
Park Highlands [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	50.10%
Encumbrances	0
Initial Cost to Company, Land	21,000,000
Initial Cost to Company, Building and Improvements	0	[1]
Initial Cost to Company, Total	21,000,000
Cost Capitalized Subsequent to Acquisition	5,287,000	[2]
Gross Amount at which Carried at Close of Period, Land	26,287,000
Gross Amount at which Carried at Close of Period, Building and Improvements	0	[1]
Gross Amount at which Carried at Close of Period, Total	26,287,000	[3]
Accumulated Depreciation and Amortization	0
Date Acquired	30-Dec-11
Bellevue Technology Center [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	47,408,000
Initial Cost to Company, Land	25,506,000
Initial Cost to Company, Building and Improvements	52,411,000	[1]
Initial Cost to Company, Total	77,917,000
Cost Capitalized Subsequent to Acquisition	1,461,000	[2]
Gross Amount at which Carried at Close of Period, Land	25,506,000
Gross Amount at which Carried at Close of Period, Building and Improvements	53,872,000	[1]
Gross Amount at which Carried at Close of Period, Total	79,378,000	[3]
Accumulated Depreciation and Amortization	-3,188,000
Original Date of Construction	'1973-2000
Date Acquired	31-Jul-12
Powers Ferry Landing East [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	1,643,000
Initial Cost to Company, Building and Improvements	3,761,000	[1]
Initial Cost to Company, Total	5,404,000
Cost Capitalized Subsequent to Acquisition	1,731,000	[2]
Gross Amount at which Carried at Close of Period, Land	1,642,000
Gross Amount at which Carried at Close of Period, Building and Improvements	5,493,000	[1]
Gross Amount at which Carried at Close of Period, Total	7,135,000	[3]
Accumulated Depreciation and Amortization	-298,000
Original Date of Construction	'1980/1982/1985
Date Acquired	24-Sep-12
1800 West Loop [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	8,360,000
Initial Cost to Company, Building and Improvements	59,292,000	[1]
Initial Cost to Company, Total	67,652,000
Cost Capitalized Subsequent to Acquisition	2,585,000	[2]
Gross Amount at which Carried at Close of Period, Land	8,360,000
Gross Amount at which Carried at Close of Period, Building and Improvements	61,877,000	[1]
Gross Amount at which Carried at Close of Period, Total	70,237,000	[3]
Accumulated Depreciation and Amortization	-3,678,000
Original Date of Construction	'1982
Date Acquired	4-Dec-12
West Loop I & II [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	7,300,000
Initial Cost to Company, Building and Improvements	29,742,000	[1]
Initial Cost to Company, Total	37,042,000
Cost Capitalized Subsequent to Acquisition	1,754,000	[2]
Gross Amount at which Carried at Close of Period, Land	7,300,000
Gross Amount at which Carried at Close of Period, Building and Improvements	31,496,000	[1]
Gross Amount at which Carried at Close of Period, Total	38,796,000	[3]
Accumulated Depreciation and Amortization	-2,697,000
Original Date of Construction	'1980/1981
Date Acquired	7-Dec-12
Burbank Collection [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	90.00%
Encumbrances	8,200,000
Initial Cost to Company, Land	4,175,000
Initial Cost to Company, Building and Improvements	8,799,000	[1]
Initial Cost to Company, Total	12,974,000
Cost Capitalized Subsequent to Acquisition	42,000	[2]
Gross Amount at which Carried at Close of Period, Land	4,175,000
Gross Amount at which Carried at Close of Period, Building and Improvements	8,841,000	[1]
Gross Amount at which Carried at Close of Period, Total	13,016,000	[3]
Accumulated Depreciation and Amortization	-490,000
Original Date of Construction	'2008
Date Acquired	12-Dec-12
Austin Suburban Portfolio [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Initial Cost to Company, Land	8,288,000
Initial Cost to Company, Building and Improvements	67,745,000
Initial Cost to Company, Total	76,033,000
Cost Capitalized Subsequent to Acquisition	1,654,000
Gross Amount at which Carried at Close of Period, Land	8,288,000
Gross Amount at which Carried at Close of Period, Building and Improvements	69,399,000
Gross Amount at which Carried at Close of Period, Total	77,687,000
Accumulated Depreciation and Amortization	-3,627,000
Original Date of Construction	'1985/1986/2000
Date Acquired	28-Mar-13
Westmoor Center [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	0
Initial Cost to Company, Land	10,058,000
Initial Cost to Company, Building and Improvements	73,510,000
Initial Cost to Company, Total	83,568,000
Cost Capitalized Subsequent to Acquisition	173,000
Gross Amount at which Carried at Close of Period, Land	10,058,000
Gross Amount at which Carried at Close of Period, Building and Improvements	73,683,000
Gross Amount at which Carried at Close of Period, Total	83,741,000
Accumulated Depreciation and Amortization	-3,231,000
Original Date of Construction	'1998/1999
Date Acquired	12-Jun-13
Central Building [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	24,100,000
Initial Cost to Company, Land	7,015,000
Initial Cost to Company, Building and Improvements	26,124,000
Initial Cost to Company, Total	33,139,000
Cost Capitalized Subsequent to Acquisition	88,000
Gross Amount at which Carried at Close of Period, Land	7,015,000
Gross Amount at which Carried at Close of Period, Building and Improvements	26,212,000
Gross Amount at which Carried at Close of Period, Total	33,227,000
Accumulated Depreciation and Amortization	-742,000
Original Date of Construction	'1907
Date Acquired	10-Jul-13
50 Congress Street [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	26,535,000
Initial Cost to Company, Land	9,876,000
Initial Cost to Company, Building and Improvements	43,455,000
Initial Cost to Company, Total	53,331,000
Cost Capitalized Subsequent to Acquisition	200,000
Gross Amount at which Carried at Close of Period, Land	9,876,000
Gross Amount at which Carried at Close of Period, Building and Improvements	43,655,000
Gross Amount at which Carried at Close of Period, Total	53,531,000
Accumulated Depreciation and Amortization	-1,543,000
Original Date of Construction	'1910/1915
Date Acquired	11-Jul-13
1180 Raymond [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	7,085,000
Initial Cost to Company, Land	8,292,000
Initial Cost to Company, Building and Improvements	37,651,000
Initial Cost to Company, Total	45,943,000
Cost Capitalized Subsequent to Acquisition	725,000
Gross Amount at which Carried at Close of Period, Land	8,292,000
Gross Amount at which Carried at Close of Period, Building and Improvements	38,376,000
Gross Amount at which Carried at Close of Period, Total	46,668,000
Accumulated Depreciation and Amortization	-1,716,000
Original Date of Construction	'1929
Date Acquired	20-Aug-13
Park Highlands II [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	99.50%
Encumbrances	0
Initial Cost to Company, Land	20,255,000
Initial Cost to Company, Building and Improvements	0
Initial Cost to Company, Total	20,255,000
Cost Capitalized Subsequent to Acquisition	30,000
Gross Amount at which Carried at Close of Period, Land	20,285,000
Gross Amount at which Carried at Close of Period, Building and Improvements	0
Gross Amount at which Carried at Close of Period, Total	20,285,000
Accumulated Depreciation and Amortization	0
Date Acquired	10-Dec-13
Maitland Promenade II [Member] \| Properties Held for Investment [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Ownership Percent	100.00%
Encumbrances	20,182,000
Initial Cost to Company, Land	3,434,000
Initial Cost to Company, Building and Improvements	27,282,000
Initial Cost to Company, Total	30,716,000
Cost Capitalized Subsequent to Acquisition	0
Gross Amount at which Carried at Close of Period, Land	3,434,000
Gross Amount at which Carried at Close of Period, Building and Improvements	27,282,000
Gross Amount at which Carried at Close of Period, Total	30,716,000
Accumulated Depreciation and Amortization	-83,000
Original Date of Construction	'2001
Date Acquired	18-Dec-13
1800 West Loop and Iron Point Business Park [Member] \| Secured Debt [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Debt, outstanding amount	3,400,000
Northridge Center I & II, Powers Ferry Landing East, West Loop I & II and the Austin Suburban Portfolio [Member] \| Secured Debt [Member]	'
Real Estate and Accumulated Depreciation [Line Items]	'
Debt, outstanding amount	$82,800,000

[1]	Building and improvements include tenant origination and absorption costs.
[2]	Costs capitalized subsequent to acquisition is net of write-offs of fully depreciated/amortized assets.
[3]	The aggregate cost of real estate for federal income tax purposes was $687.6 million as of DecemberB 31, 2013.

SCHEDULE_III_REAL_ESTATE_ASSET2

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Reconciliation) (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Real Estate	'		'		'
Balance at the beginning of the year	$326,154	[1]	$110,335	[1]	$4,737	[1]
Acquisitions	342,985	[1],[2]	212,152	[1],[2]	102,470	[1],[2]
Improvements	24,670	[1]	8,284	[1]	3,896	[1]
Write-off of fully depreciated and fully amortized assets	-5,835	[1]	-3,360	[1]	-768	[1]
Impairments	-2,025		0		0
Sales	-17,931	[1]	-1,257	[1]	0	[1]
Balance at the end of the year	668,018	[1]	326,154	[1]	110,335	[1]
Accumulated depreciation and amortization:	'		'		'
Balance at the beginning of the year	8,521	[2]	2,583	[2]	190	[2]
Depreciation and amortization expense	28,956	[2]	9,305	[2]	3,161	[2]
Write-off of fully depreciated and fully amortized assets	-5,835	[2]	-3,360	[2]	-768	[2]
Impairments	-638	[2]	0	[2]	0	[2]
Sales	-1,145	[2]	-7	[2]	0	[2]
Balance at the end of the year	$29,859	[2]	$8,521	[2]	$2,583	[2]

[1]	Amounts include real estate held for sale.
[2]	Acquisitions includes properties which the Company acquired through foreclosure on or to which it otherwise received title.