Pacific Oak Strategic Opportunity REIT (PCOK) 10-Q 11 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	KBS Strategic Opportunity REIT, Inc.
Entity Central Index Key	1,452,936
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		58,667,765

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Real estate held for investment, net	$ 818,841	$ 822,514
Real estate loan receivable, net	27,850	27,850
Total real estate and real estate-related investments, net	846,691	850,364
Cash and cash equivalents	273,563	23,058
Restricted cash	19,428	5,807
Investments in unconsolidated joint ventures	74,841	74,437
Rents and other receivables, net	25,706	24,487
Above-market leases, net	918	1,038
Due from affiliate	141	0
Prepaid expenses and other assets	26,208	25,023
Total assets	1,267,496	1,004,214
Liabilities and equity
Notes and bonds payable, net	819,848	547,323
Accounts payable and accrued liabilities	17,734	17,543
Due to affiliate	164	59
Below-market leases, net	2,427	2,735
Other liabilities	27,350	17,905
Total liabilities	$ 867,523	$ 585,565
Commitments and contingencies (Note 11)
Redeemable common stock	$ 2,161	$ 9,859
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value; 1,000,000,000 shares authorized, 58,678,256 and 58,696,115 shares issued and outstanding as of March 31, 2016 and December 31, 2015, respectively	587	587
Additional paid-in capital	504,047	504,303
Cumulative distributions and net losses	(121,893)	(111,527)
Total KBS Strategic Opportunity REIT, Inc. stockholders’ equity	382,741	393,363
Noncontrolling interests	15,071	15,427
Total equity	397,812	408,790
Total Liabilities and Equity	$ 1,267,496	$ 1,004,214

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	58,678,256	58,696,115
Common stock, shares outstanding	58,678,256	58,696,115

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Rental income	$ 22,831	$ 21,860
Tenant reimbursements	4,754	4,310
Interest income from real estate loan receivable	0	975
Other operating income	780	798
Total revenues	28,365	27,943
Expenses:
Operating, maintenance, and management	9,520	8,944
Real estate taxes and insurance	3,874	3,659
Asset management fees to affiliate	2,088	2,053
General and administrative expenses	1,440	862
Depreciation and amortization	11,008	11,229
Interest expense	5,176	3,911
Total expenses	33,106	30,658
Other income (loss):
Other interest income	5	7
Equity in loss of unconsolidated joint venture	(196)	(218)
Gain on sale of real estate, net	0	8,311
Total other (loss) income	(191)	8,100
Net (loss) income	(4,932)	5,385
Net loss (income) attributable to noncontrolling interests	38	(3,150)
Net (loss) income attributable to common stockholders	$ (4,894)	$ 2,235
Net (loss) income per common share, basic and diluted (in dollars per share)	$ (0.08)	$ 0.04
Weighted-average number of common shares outstanding, basic and diluted (in shares)	58,699,129	60,036,526

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Total Stockholders' Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Noncontrolling Interests [Member]
Balance, shares at Dec. 31, 2014			60,044,329
Balance, value at Dec. 31, 2014	$ 450,136	$ 433,398	$ 600	$ 524,489	$ (91,691)	$ 16,738
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	7,132	2,444			2,444	4,688
Issuance of common stock, shares			1,114,532
Issuance of common stock, value	13,573	13,573	$ 11	13,562
Transfers to redeemable common stock	(3,663)	(3,663)		(3,663)
Redemptions of common stock, shares			(2,462,746)
Redemptions of common stock, value	(30,100)	(30,100)	$ (24)	(30,076)
Distributions declared	(22,280)	(22,280)			(22,280)
Other offering costs	(9)	(9)		(9)
Noncontrolling interests contributions	1,343					1,343
Distributions to noncontrolling interest	$ (7,342)					(7,342)
Balance, shares at Dec. 31, 2015	58,696,115		58,696,115
Balance, value at Dec. 31, 2015	$ 408,790	393,363	$ 587	504,303	(111,527)	15,427
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(4,932)	(4,894)			(4,894)	(38)
Issuance of common stock, shares			238,202
Issuance of common stock, value	3,201	3,201	$ 3	3,198
Transfers from redeemable common stock	211	211		211
Redemptions of common stock, shares			(256,061)
Redemptions of common stock, value	(3,412)	(3,412)	$ (3)	(3,409)
Distributions declared	(5,472)	(5,472)			(5,472)
Acquisitions of noncontrolling interests	(741)	(256)		(256)		(485)
Noncontrolling interests contributions	$ 167					167
Balance, shares at Mar. 31, 2016	58,678,256		58,678,256
Balance, value at Mar. 31, 2016	$ 397,812	$ 382,741	$ 587	$ 504,047	$ (121,893)	$ 15,071

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net (loss) income	$ (4,932)	$ 5,385
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Loss due to property damages	421	55
Equity in loss of unconsolidated joint venture	196	218
Depreciation and amortization	11,008	11,229
Non-cash interest income on real estate-related investments	0	(209)
Gain on sale of real estate, net	0	(8,311)
Deferred rent	(556)	(1,379)
Bad debt expense	210	70
Amortization of above- and below-market leases, net	(188)	(221)
Amortization of deferred financing costs	721	731
Amortization of discount on bonds and notes payable, net	9	5
Foreign currency transaction adjustments	303	0
Changes in assets and liabilities:
Restricted cash for operational expenditures	(659)	1,439
Rents and other receivables	(773)	(1,019)
Prepaid expenses and other assets	(3,970)	(2,400)
Accounts payable and accrued liabilities	(647)	(3,202)
Due from affiliate	(141)	0
Due to affiliates	(41)	30
Other liabilities	178	371
Net cash provided by operating activities	1,139	2,792
Cash Flows from Investing Activities:
Improvements to real estate	(6,683)	(10,051)
Proceeds from sales of real estate, net	0	15,734
Investment in unconsolidated joint venture	(600)	(840)
Restricted cash for capital expenditures	(7,771)	(19)
Net cash (used in) provided by investing activities	(15,054)	4,824
Cash Flows from Financing Activities:
Proceeds from notes and bonds payable	286,300	30,066
Principal payments on notes and bonds payable	(13,645)	(4,813)
Payments of deferred financing costs	(8,824)	(5)
Restricted cash for debt service obligations	(5,136)	0
Payments to redeem common stock	(44)	(1,162)
Distributions paid	(2,271)	(2,087)
Noncontrolling interests contributions	167	239
Distributions to noncontrolling interests	0	(4,040)
Acquisitions of noncontrolling interests	(741)	0
Net cash provided by financing activities	255,806	18,198
Effect of exchange rate changes on cash and cash equivalents	8,614	0
Net increase in cash and cash equivalents	250,505	25,814
Cash and cash equivalents, beginning of period	23,058	19,093
Cash and cash equivalents, end of period	273,563	44,907
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $458 and $522 for the three months ended March 31, 2016 and 2015, respectively	3,584	3,178
Supplemental Disclosure of Noncash Investing and Financing Activities:
Decrease in restricted cash in connection with development obligations	(842)	0
Increase in accrual improvements to real estate	122	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	3,201	3,460
Increase in redeemable common stock payable	10,855	0
Increase in restricted cash related to insurance proceeds	700	0
Increase in deferred financing payable	$ 331	$ 0

CONSOLIDATED STATEMENTS OF CAS7

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Statement [Abstract]
Interest capitalized	$ 458	$ 522

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2016
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 (BVI) Holdings, Ltd. (“KBS Strategic Opportunity BVI”), a private company limited by shares according to the British Virgin Islands Business Companies Act, 2004, was incorporated on December 18, 2015 and is authorized to issue a maximum of 50,000 common shares with no par value. Upon incorporation, KBS Strategic Opportunity BVI issued one certificate containing 10,000 common shares with no par value to 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, 2015 (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 March 31, 2016 , the Company had sold 5,334,710 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $ 56.0 million . Also, as of March 31, 2016 , the Company had redeemed 3,537,673 shares sold in the Offering for $ 41.8 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. On March 2, 2016, KBS Strategic Opportunity BVI filed a final prospectus with the Israel Securities Authority for a proposed offering of up to 1,000,000,000 Israeli new Shekels of Series A debentures (the “Debentures”) at an annual interest rate not to exceed 4.25% . On March 1, 2016, KBS Strategic Opportunity BVI commenced the institutional tender of the Debentures and accepted application for 842.5 million Israeli new Shekels. On March 7, 2016, KBS Strategic Opportunity BVI commenced the public tender of the Debentures and accepted 127.7 million Israeli new Shekels. In the aggregate, KBS Strategic Opportunity BVI accepted 970.2 million Israeli new Shekels (approximately $258.3 million as of March 31, 2016) in both the institutional and public tenders at an annual interest rate of 4.25% . KBS Strategic Opportunity BVI issued the Debentures on March 8, 2016. The terms of the Debentures require principal installment payments equal to 20% of the face value of the Debentures on March 1st of each year from 2019 to 2023. In connection with the above-referenced offering, on March 8, 2016, the Operating Partnership assigned to KBS Strategic Opportunity BVI all of its interests in the subsidiaries through which the Company indirectly owns all of its real estate and real estate-related investments. The Operating Partnership owns all of the issued and outstanding equity of KBS Strategic Opportunity BVI. As a result of these transactions, the Company now holds all of its real estate and real estate-related investments indirectly through KBS Strategic Opportunity BVI. As of March 31, 2016 , the Company owned 10 office properties, one office campus consisting of nine office buildings, one office portfolio consisting of four office buildings and 25 acres of undeveloped land, one office portfolio consisting of three office properties, one retail property, two apartment properties, two investments in undeveloped land encompassing an aggregate of 1,670 acres, one first mortgage loan and two investments in unconsolidated joint ventures.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015 , except for the addition of an accounting policy with respect to foreign currency transactions. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the SEC. Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership, KBS Strategic Opportunity BVI and their direct and indirect wholly owned subsidiaries, and joint ventures in which the Company has a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Foreign Currency Transactions The U.S. dollar is the Company’s functional currency. Transactions denominated in currency other than the Company’s functional currency are recorded upon initial recognition at the exchange rate on the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are remeasured at each reporting date into the foreign currency at the exchange rate on that date. Exchange rate differences, other than those accounted for as hedging transactions, are recognized as foreign currency transaction gain or loss included in general and administrative expenses in the Company’s consolidated statements of operations. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period. Segments The Company has invested in non-performing loans, opportunistic real estate and other real estate-related assets. 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 generally non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views non-performing loans, opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from non-performing loans, opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment. Per Share Data Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2016 and 2015. Distributions declared per share were $0.09323770 and $0.09246575 during the three months ended March 31, 2016 and 2015, respectively. Recently Issued Accounting Standards Updates In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification. ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 was to be effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU No. 2015-02”), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. ASU No. 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU No. 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments in ASU No. 2015-02 using: (a) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (b) by applying the amendments retrospectively. On January 1, 2016, the Company adopted ASU No. 2015-02 and re-evaluated its consolidation analysis of its joint ventures, concluding that such adoption did not result in (a) the classification of any entities as VIEs, (b) a consolidation of entities not previously consolidated or (c) a deconsolidation of entities previously consolidated. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 change the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements.

REAL ESTATE HELD FOR INVESTMENT

REAL ESTATE HELD FOR INVESTMENT	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
REAL ESTATE FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of March 31, 2016 , the Company owned 10 office properties, one office campus consisting of nine office buildings, one office portfolio consisting of four office buildings and 25 acres of undeveloped land, one office portfolio consisting of three office properties and one retail property encompassing, in the aggregate, approximately 4.4 million rentable square feet. As of March 31, 2016 , these properties were 85% occupied. In addition, the Company owned two apartment properties, containing 383 units and encompassing approximately 0.3 million rentable square feet, which were 91% 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 March 31, 2016 and December 31, 2015 , respectively (in thousands): March 31, 2016 December 31, 2015 Land $ 224,625 $ 223,201 Buildings and improvements 649,978 646,979 Tenant origination and absorption costs 41,511 43,894 Total real estate, cost 916,114 914,074 Accumulated depreciation and amortization (97,273 ) (91,560 ) Total real estate, net $ 818,841 $ 822,514 The following table provides summary information regarding the Company’s real estate held for investment as of March 31, 2016 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building and Improvements Tenant Origination and Absorption Total Real Estate at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Northridge Center I & II 03/25/2011 Atlanta GA Office $ 2,234 $ 7,512 $ — $ 9,746 $ (2,179 ) $ 7,567 100.0 % Iron Point Business Park 06/21/2011 Folsom CA Office 2,671 19,588 — 22,259 (4,076 ) 18,183 100.0 % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office 1,037 10,391 684 12,112 (2,214 ) 9,898 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 17,998 1,219 20,027 (4,916 ) 15,111 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,156 — 2,717 (614 ) 2,103 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,928 785 5,415 (1,669 ) 3,746 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,056 — — 3,056 — 3,056 90.0 % Total Richardson Portfolio 6,166 34,473 2,688 43,327 (9,413 ) 33,914 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 31,815 — — 31,815 — 31,815 51.6 % Bellevue Technology Center 07/31/2012 Bellevue WA Office 25,506 56,130 3,813 85,449 (8,889 ) 76,560 100.0 % Powers Ferry Landing East 09/24/2012 Atlanta GA Office 1,643 8,039 105 9,787 (1,811 ) 7,976 100.0 % 1800 West Loop 12/04/2012 Houston TX Office 8,360 60,690 5,291 74,341 (11,248 ) 63,093 100.0 % West Loop I & II 12/07/2012 Houston TX Office 7,300 31,108 2,139 40,547 (4,966 ) 35,581 100.0 % Burbank Collection 12/12/2012 Burbank CA Retail 4,175 9,366 725 14,266 (1,334 ) 12,932 90.0 % Austin Suburban Portfolio 03/28/2013 Austin TX Office 8,288 67,747 2,914 78,949 (9,646 ) 69,303 100.0 % Westmoor Center 06/12/2013 Westminster CO Office 10,058 65,399 7,085 82,542 (12,126 ) 70,416 100.0 % Central Building 07/10/2013 Seattle WA Office 7,015 26,187 1,937 35,139 (3,436 ) 31,703 100.0 % 50 Congress Street 07/11/2013 Boston MA Office 9,876 40,960 2,523 53,359 (5,280 ) 48,079 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 36,966 136 45,394 (3,073 ) 42,321 100.0 % Park Highlands II (2) 12/10/2013 North Las Vegas NV Undeveloped Land 22,502 — — 22,502 — 22,502 100.0 % Maitland Promenade II 12/18/2013 Orlando FL Office 3,434 24,266 4,295 31,995 (4,297 ) 27,698 100.0 % Plaza Buildings 01/14/2014 Bellevue WA Office 53,040 136,180 7,860 197,080 (14,005 ) 183,075 100.0 % 424 Bedford 01/31/2014 Brooklyn NY Apartment 8,860 25,367 — 34,227 (1,494 ) 32,733 90.0 % Richardson Land II 09/04/2014 Richardson TX Undeveloped Land 3,390 — — 3,390 — 3,390 90.0 % $ 224,625 $ 649,978 $ 41,511 $ 916,114 $ (97,273 ) $ 818,841 _____________________ (1) On March 18, 2016, the Company increased its membership interest in the Park Highlands joint venture from 50.1% to 51.58% by acquiring an additional 1.48% membership interest from one of the joint venture partners. (2) On March 18, 2016, the Company increased its membership interest in the Park Highlands II joint venture from 99.5% to 100% by acquiring the remaining 0.5% membership interest from its joint venture partner. 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 March 31, 2016 , the leases, excluding options to extend and apartment leases, which have terms that are generally one year or less, had remaining terms of up to 12.0 years with a weighted-average remaining term of 3.9 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 other liabilities in the accompanying consolidated balance sheets and totaled $5.4 million and $5.3 million as of March 31, 2016 and December 31, 2015 , respectively. During the three months ended March 31, 2016 and 2015, the Company recognized deferred rent from tenants of $0.6 million and $1.4 million , respectively, net of lease incentive amortization. As of March 31, 2016 and December 31, 2015 , the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $23.8 million and $22.8 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $ 3.1 million and $2.8 million of unamortized lease incentives as of March 31, 2016 and December 31, 2015 , respectively. The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes, and other recoverable costs in the period the related expenses are incurred. As of March 31, 2016 , the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands): April 1, 2016 through December 31, 2016 $ 59,156 2017 76,234 2018 65,842 2019 53,482 2020 41,379 Thereafter 96,887 $ 392,980 As of March 31, 2016 , the Company’s commercial real estate properties were leased to approximately 500 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 Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 54 $ 10,511 13.0 % Computer System Design & Programming 45 10,491 12.9 % Insurance Carriers & Related Activities 28 8,767 10.8 % $ 29,769 36.7 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of March 31, 2016 , adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term. No other tenant 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 March 31, 2016 , the Company’s real estate investments in Washington and Texas represented 23.0% and 16.2% 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 Washington and Texas real estate markets. Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for office space resulting from the local business climate, could adversely affect the Company’s operating results and its ability to make distributions to stockholders.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	3 Months Ended
	Mar. 31, 2016
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES As of March 31, 2016 and December 31, 2015 , the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities March 31, December 31, March 31, December 31, March 31, December 31, Cost $ 41,511 $ 43,894 $ 2,336 $ 2,399 $ (5,692 ) $ (5,826 ) Accumulated Amortization (22,577 ) (22,749 ) (1,418 ) (1,361 ) 3,265 3,091 Net Amount $ 18,934 $ 21,145 $ 918 $ 1,038 $ (2,427 ) $ (2,735 ) Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended For the Three Months Ended For the Three Months Ended 2016 2015 2016 2015 2016 2015 Amortization $ (2,211 ) $ (2,923 ) $ (120 ) $ (273 ) $ 308 $ 494 Additionally, as of March 31, 2016 and December 31, 2015 , the Company had recorded unamortized tax abatement intangible assets, which are included in prepaid expenses and other assets in the accompanying balance sheets, of $7.0 million and $7.2 million , respectively. During the three months ended March 31, 2016 and 2015, the Company recorded amortization expense of $0.2 million related to tax abatement intangible assets.

REAL ESTATE LOAN RECEIVABLE

REAL ESTATE LOAN RECEIVABLE	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
REAL ESTATE LOAN RECEIVABLE	REAL ESTATE LOAN RECEIVABLE As of March 31, 2016 , the Company owned one real estate loan receivable that it had originated. The information for that real estate loan receivable as of March 31, 2016 and December 31, 2015 is set forth below (in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of March 31, 2016 (1) Book Value as of March 31, 2016 (2) Book Value as of December 31, 2015 (2) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date University House First Mortgage New York, New York 3/20/2013 Student Housing Mortgage $ 27,850 $ 27,850 $ 27,850 16.0% (4) (4) _____________________ (1) Outstanding principal balance as of March 31, 2016 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 loan 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 rate is the stated default interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2016, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rate and contractual interest rate presented are as of March 31, 2016 . (4) See below for a discussion of the maturity default on the University House First Mortgage. On June 30, 2015, the University House First Mortgage matured without repayment. As a result, on July 1, 2015, the Company provided notice to the borrower of default and may commence foreclosure proceedings on, or otherwise take title to, the property securing the University House First Mortgage. As of July 1, 2015, the Company had determined the University House Mortgage to be impaired and began recognizing income on a cash basis. The Company generally recognizes income on impaired loans on either a cash basis, where interest income is only recorded when received in cash, or on a cost-recovery basis, where all cash receipts are applied against the carrying value of the loan. The Company will resume the accrual of interest if it determines the collection of interest according to the contractual terms of the loan is probable. The Company considers the collectibility or recoverability of the loan’s principal balance in determining whether to recognize income on impaired loans. The Company did not record a provision for loan loss reserves during the three months ended March 31, 2016 or 2015 as the Company believed the entire principal balance of $27.9 million related to the University House First Mortgage to be fully recoverable. On April 21, 2016, the University House First Mortgage lender entered into an assignment of mortgage to assign the University House First Mortgage to an assignee unaffiliated with the Company or the Advisor. For information with respect to the assignment, see Note 12, “Subsequent Events - Assignment of University House First Mortgage Loan.” For the three months ended March 31, 2016 and 2015, interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended March 31, 2016 2015 Contractual interest income $ — $ 766 Accretion of closing costs, origination fees and extension fees, net — 209 Interest income from real estate loan receivable $ — $ 975

REAL ESTATE SALES

REAL ESTATE SALES	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE SALES	REAL ESTATE SALES In accordance with ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”), results of operations from properties that are classified as held for sale in the ordinary course of business on or subsequent to January 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations. Results of operations from properties that were classified as held for sale in financial statements issued prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statements of operations. Prior to the adoption of ASU 2014-08, the operations of properties held for sale or to be disposed of and the aggregate net gains recognized upon their disposition were presented as discontinued operations in the accompanying consolidated statements of operations for all periods presented. During the year ended December 31, 2015, the Company sold two office properties. The results of operations of these properties and gain on sale are included in continuing operations on the accompanying statements of operations. During the three months ended March 31, 2016 , the Company did not have any dispositions and no properties were classified as held for sale as of March 31, 2016 . The following table summarizes certain revenue and expenses related to these properties for the three months ended March 31, 2016, and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Total revenues $ — $ 210 Total expenses 3 436

NOTES AND BOND PAYABLE

NOTES AND BOND PAYABLE	3 Months Ended
	Mar. 31, 2016
Notes and Bonds Payable [Abstract]
NOTES AND BOND PAYABLE	NOTES AND BONDS PAYABLE As of March 31, 2016 and December 31, 2015 , the Company’s notes and bonds payable consisted of the following (dollars in thousands): Book Value as Book Value as of December 31, 2015 Contractual Interest Rate as of March 31, 2016 (1) Effective Interest Rate at March 31, 2016 (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 41,031 $ 41,177 One-Month LIBOR + 2.10% 2.54% Principal 05/01/2017 Bellevue Technology Center Mortgage Loan 59,899 52,960 One-Month LIBOR + 2.25% 2.69% Principal 03/01/2017 Portfolio Revolving Loan Facility (3) 55,612 47,087 One-Month LIBOR + 2.25% 2.69% Interest Only 05/01/2017 Portfolio Mortgage Loan 103,932 100,032 One-Month LIBOR + 2.25% 2.69% Interest Only (4) 07/01/2017 Burbank Collection Mortgage Loan 9,098 9,098 One-Month LIBOR + 2.35% 2.85% Interest Only 09/30/2016 50 Congress Mortgage Loan 28,766 28,075 One-Month LIBOR + 1.90% 2.34% Interest Only (4) 10/01/2017 1180 Raymond Bond Payable 6,755 6,795 6.50% 6.50% Principal 09/01/2036 Central Building Mortgage Loan 25,969 24,896 One-Month LIBOR + 1.75% 2.19% Interest Only 11/13/2018 Maitland Promenade II Mortgage Loan (5) 20,116 20,182 One-Month LIBOR + 2.90% 3.34% Principal 01/01/2017 Westmoor Center Mortgage Loan 56,036 56,036 One-Month LIBOR + 2.25% 2.69% Interest Only (4) 02/01/2018 Plaza Buildings Senior Loan 110,799 111,000 One-Month LIBOR + 1.90% 2.34% Principal 01/14/2017 424 Bedford Mortgage Loan 25,227 25,358 3.91% 3.91% Principal 10/01/2022 1180 Raymond Mortgage Loan 31,000 28,100 One-Month LIBOR + 2.25% 2.69% Interest Only 12/01/2017 KBS SOR (BVI) Holdings, Ltd. Series A Debentures (6) 258,307 — 4.25% 4.25% (6) 03/01/2023 Total Notes and Bonds Payable principal outstanding 832,547 550,796 Net Premium/Discount on Notes and Bonds Payable (7) 59 50 Deferred financing costs, net (12,758 ) (3,523 ) Total Notes and Bonds Payable, net $ 819,848 $ 547,323 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2016 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2016 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of March 31, 2016 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) The Portfolio Revolving Loan Facility is secured by the 1800 West Loop Building and the Iron Point Business Park. 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 March 31, 2016 , $43.8 million of revolving debt and $11.8 million of non-revolving debt had been disbursed to the Company and the remaining $19.7 million of revolving debt and $ 1.2 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) Represents the payment type required under the loan as of March 31, 2016 . Certain future monthly payments due under this loan also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes and bonds payable, see five-year maturity table below. (5) Interest on the Maitland Promenade II Mortgage 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% . (6) See “– Recent Financing Transaction – Israeli Bond Financing” below. (7) Represents the unamortized premium/discount on notes and bonds payable due to the above- and below-market interest rates when the debt was assumed. The discount/premium is amortized over the remaining life of the notes and bonds payable. During the three months ended March 31, 2016 and 2015 the Company incurred $5.2 million and $3.9 million of interest expense, respectively. Included in interest expense for the three months ended March 31, 2016 and 2015 was $ 0.7 million and $ 0.7 million of amortization of deferred financing costs, respectively. Additionally, during the three months ended March 31, 2016 and 2015, the Company capitalized $0.5 million and $0.5 million of interest to its investments in undeveloped land, respectively. As of March 31, 2016 , the Company’s deferred financing costs were $ 12.8 million , net of amortization, which are included in notes and bonds payable, net. As of December 31, 2015 , the Company’s deferred financing costs were $ 4.7 million , net of amortization, of which $3.5 million is included in notes and bonds payable, net and $1.2 million is included in prepaid expenses and other assets on the accompanying consolidated balance sheets, respectively. As of March 31, 2016 and December 31, 2015 , the Company’s interest payable was $ 2.0 million and $ 1.2 million , respectively. The following is a schedule of maturities, including principal amortization payments, for all notes and bonds payable outstanding as of March 31, 2016 (in thousands): April 1, 2016 through December 31, 2016 $ 13,035 2017 449,008 2018 82,255 2019 52,473 2020 52,508 Thereafter 183,268 $ 832,547 The Company’s notes payable contain financial debt covenants. As of March 31, 2016 , the Company was in compliance with all of these debt covenants. Recent Financing Transactions Israeli Bond Financing On March 2, 2016, KBS Strategic Opportunity BVI, a wholly owned subsidiary of the Company, filed a final prospectus with the Israel Securities Authority for a proposed offering of up to 1,000,000,000 Israeli new Shekels of Series A debentures (the “Debentures”) at an annual interest rate not to exceed 4.25% . On March 1, 2016, KBS Strategic Opportunity BVI commenced the institutional tender of the Debentures and accepted application for 842.5 million Israeli new Shekels. On March 7, 2016, KBS Strategic Opportunity BVI commenced the public tender of the Debentures and accepted 127.7 million Israeli new Shekels. In the aggregate, KBS Strategic Opportunity BVI accepted 970.2 million Israeli new Shekels (approximately $258.3 million as of March 31, 2016) in both the institutional and public tenders at an annual interest rate of 4.25% . KBS Strategic Opportunity BVI issued the Debentures on March 8, 2016. The terms of the Debentures require principal installment payments equal to 20% of the face value of the Debentures on March 1st of each year from 2019 to 2023. As of March 31, 2016, the Company incurred legal, rating and underwriting fees of approximately $9.8 million in connection with the offering. In addition, the Company funded interest reserves of 20.0 million Israeli new Shekels (approximately $5.3 million as of March 31, 2016) and 1.0 million Israeli new Shekels (approximately $0.3 million as of March 31, 2016) of expense reserve required by the Debenture documents. The deed of trust that governs the terms of the Debentures contains various financial covenants. As of March 31, 2016 , the Company was in compliance with all of these financial debt covenants.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other non-financial and financial assets at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. The fair value for certain financial instruments is derived using 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, prepaid expenses and other assets and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. Real estate loan receivable: The Company’s real estate loan receivable is presented in the accompanying consolidated balance sheets at its amortized cost net of recorded loan loss reserves and not at fair value. The fair value of real estate loan receivable was 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. Notes and bonds payable: The fair values of the Company’s notes and bonds 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 Company’s bonds issued in Israel are publicly traded on the Tel-Aviv Stock Exchange. The Company used the quoted price as of March 31, 2016 for the fair value of its bonds issued in Israel. The Company classifies this input as a Level 1 input. The following were the face values, carrying amounts and fair values of the Company’s financial instruments as of March 31, 2016 and December 31, 2015 , which carrying amounts do not approximate the fair values (in thousands): March 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loan receivable $ 27,850 $ 27,850 $ 27,850 $ 27,850 $ 27,850 $ 27,850 Financial liabilities: Notes and bonds payable $ 574,240 $ 571,249 $ 577,632 $ 550,796 $ 547,323 $ 554,007 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 258,307 $ 248,599 $ 260,864 $ — $ — $ — 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. 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Advisory Agreement entitles the Advisor to specified fees upon the provision of certain services with regard to 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 certain costs incurred by the Advisor in providing services to the Company. The Advisory Agreement may also entitle the Advisor to certain back-end cash flow participation fees. The Company also entered into a fee reimbursement agreement (the “AIP Reimbursement Agreement”) with KBS Capital Markets Group LLC, the dealer manager for the Company’s initial public offering (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 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”) and KBS Growth & Income REIT, Inc. (“KBS Growth & Income REIT”). 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. In June 2015, KBS Growth & Income REIT was added to the insurance program at terms similar to those described above. During the three months ended March 31, 2016 and 2015, no other business transactions occurred between the Company and these other KBS-sponsored programs. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three months ended March 31, 2016 and 2015, respectively, and any related amounts payable as of March 31, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, December 31, 2016 2015 2016 2015 Expensed Asset management fees $ 2,088 $ 2,053 $ — $ — Reimbursable operating expenses (1) 44 46 164 59 Disposition fees (2) — 102 — — $ 2,132 $ 2,201 $ 164 $ 59 _____________________ (1) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $ 44,000 and $ 33,000 for the three months ended March 31, 2016 and 2015 , 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company's direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company. (2) Disposition fees with respect to real estate sold are included in the gain on sale of real estate in the accompanying consolidated statements of operations. As of March 31, 2016 , the Company had $0.1 million due from the Advisor, which consisted of a property insurance rebate and legal and professional fees reimbursable to the Company.

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES As of March 31, 2016 and December 31, 2015 , the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands): Investment Balance at Joint Venture Number of Properties Location Ownership % March 31, 2016 December 31, 2015 NIP Joint Venture 21 Various Less than 5.0% $ 5,305 $ 5,305 110 William Joint Venture 1 New York, New York 60.0% 69,536 69,132 $ 74,841 $ 74,437 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 21 industrial properties and a master lease with respect to another industrial property encompassing 10.8 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 March 31, 2016 . The Company has virtually no 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 March 31, 2016 and December 31, 2015 , the book value of the Company’s investment in the NIP Joint Venture was $5.3 million . During the three months ended March 31, 2016 and 2015, the Company did not receive any distributions related to its investment in 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”). On May 2, 2014, the 110 William Joint Venture acquired 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”). 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 significant decisions require approval from both members. Accordingly, the Company has accounted for its investment in the 110 William Joint Venture under the equity method of accounting. Income, losses, contributions and distributions are generally allocated based on the members’ respective equity interests. As of March 31, 2016 and December 31, 2015 , the book value of the Company’s investment in the 110 William Joint Venture was $69.5 million and $69.1 million , respectively, which includes $1.5 million of unamortized acquisition fees and expenses incurred directly by the Company. Summarized financial information for the 110 William Joint Venture follows (in thousands): (unaudited) March 31, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation and amortization $ 268,618 $ 269,664 Other assets 20,148 18,973 Total assets $ 288,766 $ 288,637 Liabilities and Equity: Notes payable, net (1) $ 161,210 $ 162,395 Other liabilities 14,240 13,617 Partners’ capital 113,316 112,625 Total Liabilities and Equity $ 288,766 $ 288,637 _____________________ (1) Includes (i) a first mortgage loan with an outstanding principal balance of $138.0 million and $138.6 million as of March 31, 2016 and December 31, 2015 , respectively, bearing interest at a fixed rate of 4.8% per annum and maturing on July 6, 2017 and (ii) a mezzanine loan with an outstanding principal balance of $20.0 million as of March 31, 2016 and December 31, 2015 bearing interest at a fixed rate of 9.5% per annum and maturing on July 6, 2017. The amount presented includes a premium on notes payable of $3.8 million and $4.5 million as of March 31, 2016 and December 31, 2015 , respectively and deferred financing costs, net of $0.6 million and $0.7 million as of March 31, 2016 and December 31, 2015, respectively. Three Months Ended March 31, 2016 2015 Revenues $ 8,251 $ 8,285 Expenses: Operating, maintenance, and management 2,505 2,703 Real estate taxes and insurance 1,434 1,336 Depreciation and amortization 3,121 3,060 Interest expense 1,516 1,533 Total expenses 8,576 8,632 Other income 16 1 Net loss $ (309 ) $ (346 ) Company’s equity in loss of unconsolidated joint venture $ (196 ) $ (218 )

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 . 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Assignment of University House First Mortgage On April 21, 2016, the Company entered into an assignment of mortgage to assign the University House First Mortgage to an assignee unaffiliated with the Company or the Advisor. On April 22, 2016, the Company received $31.6 million in connection with the assignment of the University House First Mortgage. The proceeds received from the assignment reflects the entire principal balance and interest due, including any default interest, as of April 21, 2016, plus any legal costs incurred by the Company in connection with the assignment. Real Estate Acquisition and Probable Acquisition Subsequent to March 31, 2016 Acquisition of Westpark Portfolio On May 10, 2016, the Company, through an indirect wholly owned subsidiary, acquired from Calwest Industrial Properties, LLC a portfolio of 21 office/flex/industrial buildings containing a total of 778,472 rentable square feet located on approximately 41 acres of land in Redmond, Washington (the “Westpark Portfolio”). The seller is not affiliated with the Company or the Advisor. The purchase price of the Westpark Portfolio was $128.0 million plus closing costs. The Company funded the purchase of the Westpark Portfolio with proceeds from its offering of Series A debentures to Israeli investors and proceeds from an existing credit facility. The Company is in process of assessing the fair value of the acquired tangible assets and any applicable intangible assets and liabilities for this business combination. The Westpark Portfolio was built between 1984 and 1992. At acquisition, the Westpark Portfolio was 82% leased to over 100 tenants. Probable Acquisition of 353 Sacramento On May 9, 2016, the Company, through an indirect wholly owned subsidiary, entered into a real estate sale agreement to purchase an office building containing 284,751 rentable square feet located on approximately 0.35 acres of land in San Francisco, California (“353 Sacramento”). On April 28, 2016, the Advisor entered into a real estate sale agreement with Pacific EIH Sacramento, LLC (the “Seller”) to purchase 353 Sacramento. The Seller is not affiliated with the Company or the Advisor. On May 9, 2016, the Advisor assigned this real estate sale agreement to a wholly owned subsidiary of the Company for $1.0 million , which is the amount of the initial deposit paid by the Advisor. Pursuant to the real estate sale agreement, the Company would be obligated to purchase the property only after satisfactory completion of agreed upon closing conditions. There can be no assurance that the Company will complete the acquisition. In some circumstances, if the Company fails to complete the acquisition, it may forfeit up to $8.0 million of earnest money. The contractual purchase price of 353 Sacramento is $169.5 million plus closing costs. 353 Sacramento was built in 1982 and, as of May 9, 2016, was 87% leased to 25 tenants.

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership, KBS Strategic Opportunity BVI and their direct and indirect wholly owned subsidiaries, and joint ventures in which the Company has a controlling interest. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Foreign Currency Transactions	The U.S. dollar is the Company’s functional currency. Transactions denominated in currency other than the Company’s functional currency are recorded upon initial recognition at the exchange rate on the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are remeasured at each reporting date into the foreign currency at the exchange rate on that date. Exchange rate differences, other than those accounted for as hedging transactions, are recognized as foreign currency transaction gain or loss included in general and administrative expenses in the Company’s consolidated statements of operations.
Reclassifications	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period.
Segments	The Company has invested in non-performing loans, opportunistic real estate and other real estate-related assets. 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 generally non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views non-performing loans, opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from non-performing loans, opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment.
Per Share Data	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2016 and 2015. Distributions declared per share were $0.09323770 and $0.09246575 during the three months ended March 31, 2016 and 2015, respectively.
Recently Issued Accounting Standards Updates	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification. ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 was to be effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU No. 2015-02”), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. ASU No. 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”) or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU No. 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. A reporting entity may apply the amendments in ASU No. 2015-02 using: (a) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (b) by applying the amendments retrospectively. On January 1, 2016, the Company adopted ASU No. 2015-02 and re-evaluated its consolidation analysis of its joint ventures, concluding that such adoption did not result in (a) the classification of any entities as VIEs, (b) a consolidation of entities not previously consolidated or (c) a deconsolidation of entities previously consolidated. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 change the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements.

REAL ESTATE HELD FOR INVESTME21

REAL ESTATE HELD FOR INVESTMENT (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s real estate held for investment as of March 31, 2016 and December 31, 2015 , respectively (in thousands): March 31, 2016 December 31, 2015 Land $ 224,625 $ 223,201 Buildings and improvements 649,978 646,979 Tenant origination and absorption costs 41,511 43,894 Total real estate, cost 916,114 914,074 Accumulated depreciation and amortization (97,273 ) (91,560 ) Total real estate, net $ 818,841 $ 822,514 The following table provides summary information regarding the Company’s real estate held for investment as of March 31, 2016 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building and Improvements Tenant Origination and Absorption Total Real Estate at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Northridge Center I & II 03/25/2011 Atlanta GA Office $ 2,234 $ 7,512 $ — $ 9,746 $ (2,179 ) $ 7,567 100.0 % Iron Point Business Park 06/21/2011 Folsom CA Office 2,671 19,588 — 22,259 (4,076 ) 18,183 100.0 % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office 1,037 10,391 684 12,112 (2,214 ) 9,898 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 17,998 1,219 20,027 (4,916 ) 15,111 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,156 — 2,717 (614 ) 2,103 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,928 785 5,415 (1,669 ) 3,746 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,056 — — 3,056 — 3,056 90.0 % Total Richardson Portfolio 6,166 34,473 2,688 43,327 (9,413 ) 33,914 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 31,815 — — 31,815 — 31,815 51.6 % Bellevue Technology Center 07/31/2012 Bellevue WA Office 25,506 56,130 3,813 85,449 (8,889 ) 76,560 100.0 % Powers Ferry Landing East 09/24/2012 Atlanta GA Office 1,643 8,039 105 9,787 (1,811 ) 7,976 100.0 % 1800 West Loop 12/04/2012 Houston TX Office 8,360 60,690 5,291 74,341 (11,248 ) 63,093 100.0 % West Loop I & II 12/07/2012 Houston TX Office 7,300 31,108 2,139 40,547 (4,966 ) 35,581 100.0 % Burbank Collection 12/12/2012 Burbank CA Retail 4,175 9,366 725 14,266 (1,334 ) 12,932 90.0 % Austin Suburban Portfolio 03/28/2013 Austin TX Office 8,288 67,747 2,914 78,949 (9,646 ) 69,303 100.0 % Westmoor Center 06/12/2013 Westminster CO Office 10,058 65,399 7,085 82,542 (12,126 ) 70,416 100.0 % Central Building 07/10/2013 Seattle WA Office 7,015 26,187 1,937 35,139 (3,436 ) 31,703 100.0 % 50 Congress Street 07/11/2013 Boston MA Office 9,876 40,960 2,523 53,359 (5,280 ) 48,079 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 36,966 136 45,394 (3,073 ) 42,321 100.0 % Park Highlands II (2) 12/10/2013 North Las Vegas NV Undeveloped Land 22,502 — — 22,502 — 22,502 100.0 % Maitland Promenade II 12/18/2013 Orlando FL Office 3,434 24,266 4,295 31,995 (4,297 ) 27,698 100.0 % Plaza Buildings 01/14/2014 Bellevue WA Office 53,040 136,180 7,860 197,080 (14,005 ) 183,075 100.0 % 424 Bedford 01/31/2014 Brooklyn NY Apartment 8,860 25,367 — 34,227 (1,494 ) 32,733 90.0 % Richardson Land II 09/04/2014 Richardson TX Undeveloped Land 3,390 — — 3,390 — 3,390 90.0 % $ 224,625 $ 649,978 $ 41,511 $ 916,114 $ (97,273 ) $ 818,841 _____________________ (1) On March 18, 2016, the Company increased its membership interest in the Park Highlands joint venture from 50.1% to 51.58% by acquiring an additional 1.48% membership interest from one of the joint venture partners. (2) On March 18, 2016, the Company increased its membership interest in the Park Highlands II joint venture from 99.5% to 100% by acquiring the remaining 0.5% membership interest from its joint venture partner.
Schedule of Future Minimum Rental Income for Company's Properties	As of March 31, 2016 , the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands): April 1, 2016 through December 31, 2016 $ 59,156 2017 76,234 2018 65,842 2019 53,482 2020 41,379 Thereafter 96,887 $ 392,980
Schedules of Concentration of Risk, by Risk Factor	As of March 31, 2016 , the Company’s commercial real estate properties were leased to approximately 500 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 Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 54 $ 10,511 13.0 % Computer System Design & Programming 45 10,491 12.9 % Insurance Carriers & Related Activities 28 8,767 10.8 % $ 29,769 36.7 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of March 31, 2016 , adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

TENANT ORIGINATION AND ABSORP22

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2016
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	As of March 31, 2016 and December 31, 2015 , the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities March 31, December 31, March 31, December 31, March 31, December 31, Cost $ 41,511 $ 43,894 $ 2,336 $ 2,399 $ (5,692 ) $ (5,826 ) Accumulated Amortization (22,577 ) (22,749 ) (1,418 ) (1,361 ) 3,265 3,091 Net Amount $ 18,934 $ 21,145 $ 918 $ 1,038 $ (2,427 ) $ (2,735 )
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three months ended March 31, 2016 and 2015 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended For the Three Months Ended For the Three Months Ended 2016 2015 2016 2015 2016 2015 Amortization $ (2,211 ) $ (2,923 ) $ (120 ) $ (273 ) $ 308 $ 494

REAL ESTATE LOAN RECEIVABLE (Ta

REAL ESTATE LOAN RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	As of March 31, 2016 , the Company owned one real estate loan receivable that it had originated. The information for that real estate loan receivable as of March 31, 2016 and December 31, 2015 is set forth below (in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of March 31, 2016 (1) Book Value as of March 31, 2016 (2) Book Value as of December 31, 2015 (2) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date University House First Mortgage New York, New York 3/20/2013 Student Housing Mortgage $ 27,850 $ 27,850 $ 27,850 16.0% (4) (4) _____________________ (1) Outstanding principal balance as of March 31, 2016 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 loan 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 rate is the stated default interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2016, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rate and contractual interest rate presented are as of March 31, 2016 . (4) See below for a discussion of the maturity default on the University House First Mortgage.
Schedule of Interest Income from Real Estate Loans Receivable	For the three months ended March 31, 2016 and 2015, interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended March 31, 2016 2015 Contractual interest income $ — $ 766 Accretion of closing costs, origination fees and extension fees, net — 209 Interest income from real estate loan receivable $ — $ 975

REAL ESTATE SALES (Tables)

REAL ESTATE SALES (Tables)	3 Months Ended
	Mar. 31, 2016
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Revenue and Expenses of Real Estate Held-for-Sale	The following table summarizes certain revenue and expenses related to these properties for the three months ended March 31, 2016, and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Total revenues $ — $ 210 Total expenses 3 436

NOTES AND BOND PAYABLE (Tables)

NOTES AND BOND PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Notes and Bonds Payable [Abstract]
Schedule of Long-term Debt Instruments	As of March 31, 2016 and December 31, 2015 , the Company’s notes and bonds payable consisted of the following (dollars in thousands): Book Value as Book Value as of December 31, 2015 Contractual Interest Rate as of March 31, 2016 (1) Effective Interest Rate at March 31, 2016 (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 41,031 $ 41,177 One-Month LIBOR + 2.10% 2.54% Principal 05/01/2017 Bellevue Technology Center Mortgage Loan 59,899 52,960 One-Month LIBOR + 2.25% 2.69% Principal 03/01/2017 Portfolio Revolving Loan Facility (3) 55,612 47,087 One-Month LIBOR + 2.25% 2.69% Interest Only 05/01/2017 Portfolio Mortgage Loan 103,932 100,032 One-Month LIBOR + 2.25% 2.69% Interest Only (4) 07/01/2017 Burbank Collection Mortgage Loan 9,098 9,098 One-Month LIBOR + 2.35% 2.85% Interest Only 09/30/2016 50 Congress Mortgage Loan 28,766 28,075 One-Month LIBOR + 1.90% 2.34% Interest Only (4) 10/01/2017 1180 Raymond Bond Payable 6,755 6,795 6.50% 6.50% Principal 09/01/2036 Central Building Mortgage Loan 25,969 24,896 One-Month LIBOR + 1.75% 2.19% Interest Only 11/13/2018 Maitland Promenade II Mortgage Loan (5) 20,116 20,182 One-Month LIBOR + 2.90% 3.34% Principal 01/01/2017 Westmoor Center Mortgage Loan 56,036 56,036 One-Month LIBOR + 2.25% 2.69% Interest Only (4) 02/01/2018 Plaza Buildings Senior Loan 110,799 111,000 One-Month LIBOR + 1.90% 2.34% Principal 01/14/2017 424 Bedford Mortgage Loan 25,227 25,358 3.91% 3.91% Principal 10/01/2022 1180 Raymond Mortgage Loan 31,000 28,100 One-Month LIBOR + 2.25% 2.69% Interest Only 12/01/2017 KBS SOR (BVI) Holdings, Ltd. Series A Debentures (6) 258,307 — 4.25% 4.25% (6) 03/01/2023 Total Notes and Bonds Payable principal outstanding 832,547 550,796 Net Premium/Discount on Notes and Bonds Payable (7) 59 50 Deferred financing costs, net (12,758 ) (3,523 ) Total Notes and Bonds Payable, net $ 819,848 $ 547,323 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2016 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2016 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of March 31, 2016 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) The Portfolio Revolving Loan Facility is secured by the 1800 West Loop Building and the Iron Point Business Park. 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 March 31, 2016 , $43.8 million of revolving debt and $11.8 million of non-revolving debt had been disbursed to the Company and the remaining $19.7 million of revolving debt and $ 1.2 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) Represents the payment type required under the loan as of March 31, 2016 . Certain future monthly payments due under this loan also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes and bonds payable, see five-year maturity table below. (5) Interest on the Maitland Promenade II Mortgage 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% . (6) See “– Recent Financing Transaction – Israeli Bond Financing” below. (7) Represents the unamortized premium/discount on notes and bonds payable due to the above- and below-market interest rates when the debt was assumed. The discount/premium is amortized over the remaining life of the notes and bonds payable.
Schedule of Maturities of Long-term Debt	The following is a schedule of maturities, including principal amortization payments, for all notes and bonds payable outstanding as of March 31, 2016 (in thousands): April 1, 2016 through December 31, 2016 $ 13,035 2017 449,008 2018 82,255 2019 52,473 2020 52,508 Thereafter 183,268 $ 832,547

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
Schedule of Face Value, Carrying Amounts and Fair Value	The following were the face values, carrying amounts and fair values of the Company’s financial instruments as of March 31, 2016 and December 31, 2015 , which carrying amounts do not approximate the fair values (in thousands): March 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loan receivable $ 27,850 $ 27,850 $ 27,850 $ 27,850 $ 27,850 $ 27,850 Financial liabilities: Notes and bonds payable $ 574,240 $ 571,249 $ 577,632 $ 550,796 $ 547,323 $ 554,007 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 258,307 $ 248,599 $ 260,864 $ — $ — $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three months ended March 31, 2016 and 2015, respectively, and any related amounts payable as of March 31, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, December 31, 2016 2015 2016 2015 Expensed Asset management fees $ 2,088 $ 2,053 $ — $ — Reimbursable operating expenses (1) 44 46 164 59 Disposition fees (2) — 102 — — $ 2,132 $ 2,201 $ 164 $ 59 _____________________ (1) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $ 44,000 and $ 33,000 for the three months ended March 31, 2016 and 2015 , 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company's direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company. (2) Disposition fees with respect to real estate sold are included in the gain on sale of real estate in the accompanying consolidated statements of operations.

INVESTMENT IN UNCONSOLIDATED 28

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	3 Months Ended
	Mar. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Joint Ventures	Summarized financial information for the 110 William Joint Venture follows (in thousands): (unaudited) March 31, 2016 December 31, 2015 Assets: Real estate assets, net of accumulated depreciation and amortization $ 268,618 $ 269,664 Other assets 20,148 18,973 Total assets $ 288,766 $ 288,637 Liabilities and Equity: Notes payable, net (1) $ 161,210 $ 162,395 Other liabilities 14,240 13,617 Partners’ capital 113,316 112,625 Total Liabilities and Equity $ 288,766 $ 288,637 _____________________ (1) Includes (i) a first mortgage loan with an outstanding principal balance of $138.0 million and $138.6 million as of March 31, 2016 and December 31, 2015 , respectively, bearing interest at a fixed rate of 4.8% per annum and maturing on July 6, 2017 and (ii) a mezzanine loan with an outstanding principal balance of $20.0 million as of March 31, 2016 and December 31, 2015 bearing interest at a fixed rate of 9.5% per annum and maturing on July 6, 2017. The amount presented includes a premium on notes payable of $3.8 million and $4.5 million as of March 31, 2016 and December 31, 2015 , respectively and deferred financing costs, net of $0.6 million and $0.7 million as of March 31, 2016 and December 31, 2015, respectively. Three Months Ended March 31, 2016 2015 Revenues $ 8,251 $ 8,285 Expenses: Operating, maintenance, and management 2,505 2,703 Real estate taxes and insurance 1,434 1,336 Depreciation and amortization 3,121 3,060 Interest expense 1,516 1,533 Total expenses 8,576 8,632 Other income 16 1 Net loss $ (309 ) $ (346 ) Company’s equity in loss of unconsolidated joint venture $ (196 ) $ (218 ) As of March 31, 2016 and December 31, 2015 , the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands): Investment Balance at Joint Venture Number of Properties Location Ownership % March 31, 2016 December 31, 2015 NIP Joint Venture 21 Various Less than 5.0% $ 5,305 $ 5,305 110 William Joint Venture 1 New York, New York 60.0% 69,536 69,132 $ 74,841 $ 74,437

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	Mar. 07, 2016ILS (₪)	Mar. 02, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Mar. 31, 2016USD ($)aPortfoliospropertyInvestmentsshares	Mar. 31, 2016ILS (₪)	Mar. 31, 2016USD ($)aPortfoliospropertyInvestmentsshares	Dec. 31, 2015USD ($)shares	Sep. 30, 2015USD ($)shares	Mar. 31, 2016USD ($)aPortfoliospropertyInvestmentsshares	Dec. 18, 2015shares	Oct. 23, 2012USD ($)shares	Dec. 29, 2011USD ($)shares	Jan. 08, 2009shares
Organizational Structure [Line Items]
Common stock, shares authorized				1,000,000,000		1,000,000,000	1,000,000,000		1,000,000,000
Partnership interest in Operating Partnership						0.10%
Partnership interest in the Operating Partnership and is its sole limited partner						99.90%
Issuance of common stock, value | $						$ 3,201	$ 13,573	$ 561,700
Shares of common stock sold under dividend reinvestment plan, value | $									$ 56,000
Redemptions of common stock, value | $						$ 3,412	$ 30,100		$ 41,800
Common stock, shares issued				58,678,256		58,678,256	58,696,115		58,678,256		55,249	220,994
Common stock, value, issued | $				$ 587		$ 587	$ 587		$ 587		$ 500	$ 2,000
Real estate area of undeveloped land | a				1,670		1,670			1,670
Number of Investments in Unconsolidated Joint Venture | Investments				2		2			2
Office Properties [Member]
Organizational Structure [Line Items]
Number of real estate properties | property				10		10			10
Office Campus [Member]
Organizational Structure [Line Items]
Number of real estate properties | property				1		1			1
Office Portfolio [Member]
Organizational Structure [Line Items]
Number of real estate properties | Portfolios				1		1			1
Office Portfolio [Member] | Austin Suburban Portfolio [Member]
Organizational Structure [Line Items]
Number of real estate properties acquired | Portfolios				1		1			1
Office Buildings, Portfolio [Member]
Organizational Structure [Line Items]
Number of real estate properties | property				4		4			4
Real estate area of undeveloped land | a				25		25			25
Office Property, Portfolio [Member]
Organizational Structure [Line Items]
Number of real estate properties acquired | property				9		9			9
Office Property, Portfolio [Member] | Austin Suburban Portfolio [Member]
Organizational Structure [Line Items]
Number of real estate properties acquired | property				3		3			3
Retail Properties [Member]
Organizational Structure [Line Items]
Number of real estate properties | property				1		1			1
Apartment Property [Member]
Organizational Structure [Line Items]
Number of real estate properties | property				2		2			2
Undeveloped Land [Member]
Organizational Structure [Line Items]
Number of investments in real estate properties | property				2		2			2
Office Property [Member]
Organizational Structure [Line Items]
Number of first mortgage loans | Portfolios						1
Series A Debentures [Member] | Bonds Payable [Member]
Organizational Structure [Line Items]
Maximum borrowing capacity | ₪		₪ 1,000,000,000
Interest rate during period				4.25%	4.25%
Proceeds from issuance of debt	₪ 127,700,000		₪ 842,500,000	$ 258,300	₪ 970,200,000
Principal installment payments required as percent of total debt		20.00%
Common Stock [Member]
Organizational Structure [Line Items]
Shares registered in primary offering													100,000,000
Shares registered for sale under dividend reinvestment plan													40,000,000
Issuance of common stock, shares						238,202	1,114,532	56,584,976
Issuance of common stock, value | $						$ 3	$ 11
Shares of common stock sold under dividend reinvestment plan, shares									5,334,710
Redemptions of common stock, shares						256,061	2,462,746		3,537,673
Redemptions of common stock, value | $						$ 3	$ 24
Minimum [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance													250,000
Maximum [Member] | Series A Debentures [Member] | Bonds Payable [Member]
Organizational Structure [Line Items]
Interest rate during period		4.25%
Maximum [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance													140,000,000
KBS Strategic Opportunity BVI [Member]
Organizational Structure [Line Items]
Common stock, shares authorized										50,000
KBS Strategic Opportunity BVI [Member] | Operating Partnership [Member]
Organizational Structure [Line Items]
Common stock, shares issued										10,000
KBS Capital Advisors LLC [Member]
Organizational Structure [Line Items]
Shares held by affiliate				20,000		20,000			20,000

SUMMARY OF SIGNIFICANT ACCOUN30

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details)	3 Months Ended
	Mar. 31, 2016segments$ / shares	Mar. 31, 2015$ / shares
Accounting Policies [Abstract]
Number of reportable segments | segments	1
Distributions declared per share | $ / shares	$ 0.09323770	$ 0.09246575

REAL ESTATE HELD FOR INVESTME31

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details) ft² in Millions	Mar. 31, 2016aft²PortfoliosUnitspropertyInvestments
Real Estate Properties [Line Items]
Real estate area of undeveloped land | a	1,670
Rentable square feet | ft²	4.4
Percentage of portfolio occupied	85.00%
Office Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	10
Office Campus [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
Office Portfolio [Member]
Real Estate Properties [Line Items]
Number of real estate properties | Portfolios	1
Office Portfolio [Member] | Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Number of real estate properties acquired | Portfolios	1
Office Buildings, Portfolio [Member]
Real Estate Properties [Line Items]
Number of real estate properties	4
Real estate area of undeveloped land | a	25
Office Property, Portfolio [Member]
Real Estate Properties [Line Items]
Number of real estate properties acquired	9
Office Property, Portfolio [Member] | Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Number of real estate properties acquired	3
Retail Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
Apartment Property [Member]
Real Estate Properties [Line Items]
Number of real estate properties	2
Rentable square feet | ft²	0.3
Percentage of portfolio occupied	91.00%
Apartment Property [Member] | 1180 Raymond [Member] | Multifamily Tower [Member]
Real Estate Properties [Line Items]
Number of units in real estate property | Units	383
Undeveloped Land [Member]
Real Estate Properties [Line Items]
Number of investments in real estate | Investments	2

REAL ESTATE HELD FOR INVESTME32

REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) - USD ($) $ in Thousands	Mar. 18, 2016	Mar. 17, 2016	Mar. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Total real estate, cost			$ 916,114	$ 914,074
Accumulated depreciation and amortization			(97,273)	(91,560)
Total real estate, net			$ 818,841	822,514
Northridge Center I & II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 25, 2011
Total real estate, cost			$ 9,746
Accumulated depreciation and amortization			(2,179)
Total real estate, net			$ 7,567
Ownership %			100.00%
Iron Point Business Park [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jun. 21, 2011
Total real estate, cost			$ 22,259
Accumulated depreciation and amortization			(4,076)
Total real estate, net			$ 18,183
Ownership %			100.00%
Palisades Central I [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 12,112
Accumulated depreciation and amortization			(2,214)
Total real estate, net			$ 9,898
Ownership %			90.00%
Palisades Central II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 20,027
Accumulated depreciation and amortization			(4,916)
Total real estate, net			$ 15,111
Ownership %			90.00%
Greenway I [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 2,717
Accumulated depreciation and amortization			(614)
Total real estate, net			$ 2,103
Ownership %			90.00%
Greenway III [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 5,415
Accumulated depreciation and amortization			(1,669)
Total real estate, net			$ 3,746
Ownership %			90.00%
Undeveloped Land [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 3,056
Accumulated depreciation and amortization			0
Total real estate, net			$ 3,056
Ownership %			90.00%
Richardson Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			$ 43,327
Accumulated depreciation and amortization			(9,413)
Total real estate, net			$ 33,914
Park Highlands [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 30, 2011
Total real estate, cost			$ 31,815
Accumulated depreciation and amortization			0
Total real estate, net			$ 31,815
Ownership %	51.58%	50.10%	51.60%
Increase in percentage ownership	1.48%
Bellevue Technology Center [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jul. 31, 2012
Total real estate, cost			$ 85,449
Accumulated depreciation and amortization			(8,889)
Total real estate, net			$ 76,560
Ownership %			100.00%
Powers Ferry Landing East [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Sep. 24, 2012
Total real estate, cost			$ 9,787
Accumulated depreciation and amortization			(1,811)
Total real estate, net			$ 7,976
Ownership %			100.00%
1800 West Loop [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 4, 2012
Total real estate, cost			$ 74,341
Accumulated depreciation and amortization			(11,248)
Total real estate, net			$ 63,093
Ownership %			100.00%
West Loop I and II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 7, 2012
Total real estate, cost			$ 40,547
Accumulated depreciation and amortization			(4,966)
Total real estate, net			$ 35,581
Ownership %			100.00%
Burbank Collection [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 12, 2012
Total real estate, cost			$ 14,266
Accumulated depreciation and amortization			(1,334)
Total real estate, net			$ 12,932
Ownership %			90.00%
Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 28, 2013
Total real estate, cost			$ 78,949
Accumulated depreciation and amortization			(9,646)
Total real estate, net			$ 69,303
Ownership %			100.00%
Westmoor Center [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jun. 12, 2013
Total real estate, cost			$ 82,542
Accumulated depreciation and amortization			(12,126)
Total real estate, net			$ 70,416
Ownership %			100.00%
Central Building [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jul. 10, 2013
Total real estate, cost			$ 35,139
Accumulated depreciation and amortization			(3,436)
Total real estate, net			$ 31,703
Ownership %			100.00%
50 Congress Street [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jul. 11, 2013
Total real estate, cost			$ 53,359
Accumulated depreciation and amortization			(5,280)
Total real estate, net			$ 48,079
Ownership %			100.00%
1180 Raymond [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Aug. 20, 2013
Total real estate, cost			$ 45,394
Accumulated depreciation and amortization			(3,073)
Total real estate, net			$ 42,321
Ownership %			100.00%
Park Highlands II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 10, 2013
Total real estate, cost			$ 22,502
Accumulated depreciation and amortization			0
Total real estate, net			$ 22,502
Ownership %	100.00%	99.50%	100.00%
Increase in percentage ownership	0.50%
Maitland Promenade II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 18, 2013
Total real estate, cost			$ 31,995
Accumulated depreciation and amortization			(4,297)
Total real estate, net			$ 27,698
Ownership %			100.00%
Plaza Buildings [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jan. 14, 2014
Total real estate, cost			$ 197,080
Accumulated depreciation and amortization			(14,005)
Total real estate, net			$ 183,075
Ownership %			100.00%
424 Bedford [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jan. 31, 2014
Total real estate, cost			$ 34,227
Accumulated depreciation and amortization			(1,494)
Total real estate, net			$ 32,733
Ownership %			90.00%
Richardson Land II [Member]
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Sep. 4, 2014
Total real estate, cost			$ 3,390
Accumulated depreciation and amortization			0
Total real estate, net			$ 3,390
Ownership %			90.00%
Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost			$ 224,625	223,201
Land [Member] | Northridge Center I & II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,234
Land [Member] | Iron Point Business Park [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,671
Land [Member] | Palisades Central I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			1,037
Land [Member] | Palisades Central II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			810
Land [Member] | Greenway I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			561
Land [Member] | Greenway III [Member]
Real Estate Properties [Line Items]
Total real estate, cost			702
Land [Member] | Undeveloped Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost			3,056
Land [Member] | Richardson Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			6,166
Land [Member] | Park Highlands [Member]
Real Estate Properties [Line Items]
Total real estate, cost			31,815
Land [Member] | Bellevue Technology Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			25,506
Land [Member] | Powers Ferry Landing East [Member]
Real Estate Properties [Line Items]
Total real estate, cost			1,643
Land [Member] | 1800 West Loop [Member]
Real Estate Properties [Line Items]
Total real estate, cost			8,360
Land [Member] | West Loop I and II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			7,300
Land [Member] | Burbank Collection [Member]
Real Estate Properties [Line Items]
Total real estate, cost			4,175
Land [Member] | Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			8,288
Land [Member] | Westmoor Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			10,058
Land [Member] | Central Building [Member]
Real Estate Properties [Line Items]
Total real estate, cost			7,015
Land [Member] | 50 Congress Street [Member]
Real Estate Properties [Line Items]
Total real estate, cost			9,876
Land [Member] | 1180 Raymond [Member]
Real Estate Properties [Line Items]
Total real estate, cost			8,292
Land [Member] | Park Highlands II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			22,502
Land [Member] | Maitland Promenade II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			3,434
Land [Member] | Plaza Buildings [Member]
Real Estate Properties [Line Items]
Total real estate, cost			53,040
Land [Member] | 424 Bedford [Member]
Real Estate Properties [Line Items]
Total real estate, cost			8,860
Land [Member] | Richardson Land II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			3,390
Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost			649,978	646,979
Buildings and Improvements [Member] | Northridge Center I & II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			7,512
Buildings and Improvements [Member] | Iron Point Business Park [Member]
Real Estate Properties [Line Items]
Total real estate, cost			19,588
Buildings and Improvements [Member] | Palisades Central I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			10,391
Buildings and Improvements [Member] | Palisades Central II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			17,998
Buildings and Improvements [Member] | Greenway I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,156
Buildings and Improvements [Member] | Greenway III [Member]
Real Estate Properties [Line Items]
Total real estate, cost			3,928
Buildings and Improvements [Member] | Undeveloped Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and Improvements [Member] | Richardson Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			34,473
Buildings and Improvements [Member] | Park Highlands [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and Improvements [Member] | Bellevue Technology Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			56,130
Buildings and Improvements [Member] | Powers Ferry Landing East [Member]
Real Estate Properties [Line Items]
Total real estate, cost			8,039
Buildings and Improvements [Member] | 1800 West Loop [Member]
Real Estate Properties [Line Items]
Total real estate, cost			60,690
Buildings and Improvements [Member] | West Loop I and II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			31,108
Buildings and Improvements [Member] | Burbank Collection [Member]
Real Estate Properties [Line Items]
Total real estate, cost			9,366
Buildings and Improvements [Member] | Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			67,747
Buildings and Improvements [Member] | Westmoor Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			65,399
Buildings and Improvements [Member] | Central Building [Member]
Real Estate Properties [Line Items]
Total real estate, cost			26,187
Buildings and Improvements [Member] | 50 Congress Street [Member]
Real Estate Properties [Line Items]
Total real estate, cost			40,960
Buildings and Improvements [Member] | 1180 Raymond [Member]
Real Estate Properties [Line Items]
Total real estate, cost			36,966
Buildings and Improvements [Member] | Park Highlands II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and Improvements [Member] | Maitland Promenade II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			24,266
Buildings and Improvements [Member] | Plaza Buildings [Member]
Real Estate Properties [Line Items]
Total real estate, cost			136,180
Buildings and Improvements [Member] | 424 Bedford [Member]
Real Estate Properties [Line Items]
Total real estate, cost			25,367
Buildings and Improvements [Member] | Richardson Land II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost			41,511	$ 43,894
Tenant Origination and Absorption Costs [Member] | Northridge Center I & II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Iron Point Business Park [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Palisades Central I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			684
Tenant Origination and Absorption Costs [Member] | Palisades Central II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			1,219
Tenant Origination and Absorption Costs [Member] | Greenway I [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Greenway III [Member]
Real Estate Properties [Line Items]
Total real estate, cost			785
Tenant Origination and Absorption Costs [Member] | Undeveloped Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Richardson Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,688
Tenant Origination and Absorption Costs [Member] | Park Highlands [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Bellevue Technology Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			3,813
Tenant Origination and Absorption Costs [Member] | Powers Ferry Landing East [Member]
Real Estate Properties [Line Items]
Total real estate, cost			105
Tenant Origination and Absorption Costs [Member] | 1800 West Loop [Member]
Real Estate Properties [Line Items]
Total real estate, cost			5,291
Tenant Origination and Absorption Costs [Member] | West Loop I and II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,139
Tenant Origination and Absorption Costs [Member] | Burbank Collection [Member]
Real Estate Properties [Line Items]
Total real estate, cost			725
Tenant Origination and Absorption Costs [Member] | Austin Suburban Portfolio [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,914
Tenant Origination and Absorption Costs [Member] | Westmoor Center [Member]
Real Estate Properties [Line Items]
Total real estate, cost			7,085
Tenant Origination and Absorption Costs [Member] | Central Building [Member]
Real Estate Properties [Line Items]
Total real estate, cost			1,937
Tenant Origination and Absorption Costs [Member] | 50 Congress Street [Member]
Real Estate Properties [Line Items]
Total real estate, cost			2,523
Tenant Origination and Absorption Costs [Member] | 1180 Raymond [Member]
Real Estate Properties [Line Items]
Total real estate, cost			136
Tenant Origination and Absorption Costs [Member] | Park Highlands II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Maitland Promenade II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			4,295
Tenant Origination and Absorption Costs [Member] | Plaza Buildings [Member]
Real Estate Properties [Line Items]
Total real estate, cost			7,860
Tenant Origination and Absorption Costs [Member] | 424 Bedford [Member]
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant Origination and Absorption Costs [Member] | Richardson Land II [Member]
Real Estate Properties [Line Items]
Total real estate, cost			$ 0

REAL ESTATE HELD FOR INVESTME33

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Tenants	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
Recognition of Deferred Revenue	$ 556	$ 1,379
Deferred rent receivables	23,800		$ 22,800
Incentive to Lessee	$ 3,100		2,800
Number of tenants | Tenants	500
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease, term	12 years
Weighted Average [Member]
Operating Leased Assets [Line Items]
Operating lease, term	3 years 10 months 24 days
Other Liabilities [Member]
Operating Leased Assets [Line Items]
Security deposit liability	$ 5,400		$ 5,300
Apartment Building [Member]
Operating Leased Assets [Line Items]
Operating lease, term	1 year

REAL ESTATE HELD FOR INVESTME34

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Real Estate [Abstract]
April 1, 2016 through December 31, 2016	$ 59,156
2,017	76,234
2,018	65,842
2,019	53,482
2,020	41,379
Thereafter	96,887
Future minimum rental income	$ 392,980

REAL ESTATE HELD FOR INVESTME35

REAL ESTATE HELD FOR INVESTMENT (Highest Tenant Industry Concentrations- Greater than 10% of Annual Base Rent) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)Tenants
Concentration Risk [Line Items]
Number of tenants | Tenants	500
Annualized Base Rent | $	$ 29,769
Percentage of Annualized Base Rent	36.70%
Industry - Finance [Member]
Concentration Risk [Line Items]
Number of tenants | Tenants	54
Annualized Base Rent | $	$ 10,511
Percentage of Annualized Base Rent	13.00%
Industry - Computer System Design & Programming [Member]
Concentration Risk [Line Items]
Number of tenants | Tenants	45
Annualized Base Rent | $	$ 10,491
Percentage of Annualized Base Rent	12.90%
Industry - Insurance Carriers & Related Activities [Member]
Concentration Risk [Line Items]
Number of tenants | Tenants	28
Annualized Base Rent | $	$ 8,767
Percentage of Annualized Base Rent	10.80%

REAL ESTATE HELD FOR INVESTME36

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details)	3 Months Ended
	Mar. 31, 2016
Concentration Risk [Line Items]
Concentration risk, percentage	36.70%
Washington [Member] | Assets, Total [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%
Texas [Member] | Assets, Total [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	16.20%

TENANT ORIGINATION AND ABSORP37

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination And Absorption Costs, Cost	$ 41,511		$ 43,894
Tenant Origination and Absorption Costs, Accumulated Amortization	(22,577)		(22,749)
Tenant Origination and Absorption Costs, Net Amount	18,934		21,145
Tenant Origination and Absorption Costs, Amortization expense	(2,211)	$ (2,923)
Above-Market Lease Assets, Cost	2,336		2,399
Above-Market Lease Assets, Accumulated Amortization	(1,418)		(1,361)
Above-Market Lease Assets, Net Amount	918		1,038
Above-Market Lease Assets, Amortization expense	(120)	(273)
Below-Market Lease Liabilities, Cost	(5,692)		(5,826)
Below-Market Lease Liabilities, Accumulated Amortization	3,265		3,091
Below-Market Lease Liabilities, Net Amount	(2,427)		$ (2,735)
Below-Market Lease Liabilities, Amortization expense	$ 308	$ 494

TENANT ORIGINATION AND ABSORP38

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Tax abatement asset	$ 7,000		$ 7,200
Depreciation and amortization	11,008	$ 11,229
Property Tax Abatement Intangible Asset [Member]
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Depreciation and amortization	$ 200	$ 200

REAL ESTATE LOAN RECEIVABLE (Lo

REAL ESTATE LOAN RECEIVABLE (Loans Receivables) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)LoansReceivables	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Number of real estate loans and leases receivable | LoansReceivables	1
Book Value	$ 27,850	$ 27,850
Mortgages [Member] | University House First Mortgage [Member]
Real Estate Properties [Line Items]
Date Originated	Mar. 20, 2013
Outstanding Principal Balance	$ 27,850	27,900
Book Value	$ 27,850	$ 27,850
Contractual Interest Rate	16.00%

REAL ESTATE LOAN RECEIVABLE (Sc

REAL ESTATE LOAN RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Receivables [Abstract]
Contractual interest income	$ 0	$ 766
Accretion of closing costs, origination fees and extension fees, net	0	209
Interest income from real estate loan receivable	$ 0	$ 975

REAL ESTATE SALES (Narrative) (

REAL ESTATE SALES (Narrative) (Details) - property	3 Months Ended	12 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties classified as held for sale	0
Office Building [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties disposed		2

REAL ESTATE SALES (Revenue and

REAL ESTATE SALES (Revenue and Expenses for Real Estate Held-for-Sale) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Discontinued Operations and Disposal Groups [Abstract]
Total revenues	$ 0	$ 210
Total expenses	$ 3	$ 436

NOTES AND BOND PAYABLE (Narrati

NOTES AND BOND PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Interest expense	$ 5,176	$ 3,911
Amortization of deferred financing costs	721	731
Interest capitalized	458	$ 522
Deferred finance costs	12,800		$ 4,700
Interest payable	$ 2,000		1,200
Notes and Bonds Payable [Member]
Debt Instrument [Line Items]
Deferred finance costs			3,500
Prepaid Expenses and Other Current Assets [Member]
Debt Instrument [Line Items]
Deferred finance costs			$ 1,200

NOTES AND BOND PAYABLE (Schedul

NOTES AND BOND PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total Notes and Bonds Payable principal outstanding	$ 832,547	$ 550,796
Net Premium/Discount on Notes and Bond Payable	59	50
Deferred financing costs, net	(12,758)	(3,523)
Total Notes and Bonds Payable, net	$ 819,848	547,323
One-month LIBOR [Member] | Mortgages [Member] | Richardson Joint Venture [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	4.00%
Richardson Portfolio [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 41,031	41,177
Interest rate, effective percentage	2.54%
Maturity Date	May 1, 2017
Richardson Portfolio [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.10%
Bellevue Technology Center [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 59,899	52,960
Interest rate, effective percentage	2.69%
Maturity Date	Mar. 1, 2017
Bellevue Technology Center [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Portfolio Revolving Loan Facility [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 55,612	47,087
Interest rate, effective percentage	2.69%
Maturity Date	May 1, 2017
Frequency of periodic payment	monthly
Portfolio Revolving Loan Facility [Member] | Secured Debt [Member] | Mortgages [Member] | Maximum [Member] | Beginning June 1, 2016 [Member]
Debt Instrument [Line Items]
Principal amortization payment	$ 80
Portfolio Revolving Loan Facility [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	59,500
Portfolio Revolving Loan Facility [Member] | Revolving Credit Facility [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Amount outstanding	43,800
Unused borrowing capacity, amount	19,700
Portfolio Revolving Loan Facility [Member] | Non-Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	13,000
Portfolio Revolving Loan Facility [Member] | Non-Revolving Credit Facility [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Amount outstanding	11,800
Unused borrowing capacity, amount	$ 1,200
Portfolio Revolving Loan Facility [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Portfolio Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 103,932	100,032
Interest rate, effective percentage	2.69%
Maturity Date	Jul. 1, 2017
Portfolio Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Burbank Collection Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 9,098	9,098
Interest rate, effective percentage	2.85%
Maturity Date	Sep. 30, 2016
Burbank Collection Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.35%
50 Congress Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 28,766	28,075
Interest rate, effective percentage	2.34%
Maturity Date	Oct. 1, 2017
50 Congress Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
1180 Raymond Bond [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Bonds payable	$ 6,755	6,795
Contractual interest rate, percentage	6.50%
Interest rate, effective percentage	6.50%
Maturity Date	Sep. 1, 2036
Central Building Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 25,969	24,896
Interest rate, effective percentage	2.19%
Maturity Date	Nov. 13, 2018
Central Building Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Maitland Promenade II Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 20,116	20,182
Interest rate, effective percentage	3.34%
Maturity Date	Jan. 1, 2017
Maitland Promenade II Mortgage Loan [Member] | Secured Debt [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Interest rate, effective percentage	3.25%
Maitland Promenade II Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.90%
Westmoor Center Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 56,036	56,036
Interest rate, effective percentage	2.69%
Maturity Date	Feb. 1, 2018
Westmoor Center Mortgage Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	2.25%
Plaza Buildings Senior Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 110,799	111,000
Interest rate, effective percentage	2.34%
Maturity Date	Jan. 14, 2017
Plaza Buildings Senior Loan [Member] | One-month LIBOR [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
424 Bedford Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 25,227	25,358
Contractual interest rate, percentage	3.91%
Interest rate, effective percentage	3.91%
Maturity Date	Oct. 1, 2022
1180 Raymond Mortgage Loan [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Notes payable	$ 31,000	28,100
Basis spread on variable rate	2.25%
Interest rate, effective percentage	2.69%
Maturity Date	Dec. 1, 2017
KBS SOR (BVI) Holdings, Ltd. Series A Debentures [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Bonds payable	$ 258,307	$ 0
Contractual interest rate, percentage	4.25%
Interest rate, effective percentage	4.25%
Maturity Date	Mar. 1, 2023

NOTES AND BOND PAYABLE (Sched45

NOTES AND BOND PAYABLE (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Notes and Bonds Payable [Abstract]
April 1, 2016 through December 31, 2016	$ 13,035
2,017	449,008
2,018	82,255
2,019	52,473
2,020	52,508
Thereafter	183,268
Notes and bond payable outstanding	$ 832,547

NOTES AND BOND PAYABLE (Recent

NOTES AND BOND PAYABLE (Recent Bond Financing) (Details) - Bonds Payable [Member] - Series A Debentures [Member] $ in Millions	Mar. 07, 2016ILS (₪)	Mar. 02, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Mar. 31, 2016USD ($)	Mar. 31, 2016ILS (₪)	Mar. 31, 2016ILS (₪)
Debt Instrument [Line Items]
Maximum borrowing capacity | ₪		₪ 1,000,000,000
Interest rate during period				4.25%	4.25%
Proceeds from issuance of debt	₪ 127,700,000		₪ 842,500,000	$ 258.3	₪ 970,200,000
Principal installment payments required as percent of total debt		20.00%
Payments of debt issuance costs | $				9.8
Funded amount				5.3		₪ 20,000,000
Required expense reserve				$ 0.3		₪ 1,000,000
Maximum [Member]
Debt Instrument [Line Items]
Interest rate during period		4.25%

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Face Value	$ 27,850	$ 27,850
Notes and bond payable, Face Value	574,240	550,796
Series A Debentures [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Face Value	258,307	0
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	27,850	27,850
Notes and bond payable, Value	571,249	547,323
Carrying Amount [Member] | Series A Debentures [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Value	248,599	0
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	27,850	27,850
Notes and bond payable, Value	577,632	554,007
Fair Value [Member] | Series A Debentures [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Value	$ 260,864	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Payment for administrative fees	$ 44	$ 33
Due from affiliate	141		$ 0
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Incurred	2,132	2,201
Payable as of	164		59
Advisor and Dealer Manager [Member] | Expensed [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Expenses	2,088	2,053
Payable as of	0		0
Advisor and Dealer Manager [Member] | Expensed [Member] | Reimbursement of Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	44	46
Payable as of	164		59
Advisor and Dealer Manager [Member] | Expensed [Member] | Dispositon Fees [Member]
Related Party Transaction [Line Items]
Expenses	0	$ 102
Payable as of	0		$ 0
KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Due from affiliate	$ 100

INVESTMENT IN UNCONSOLIDATED 49

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Narrative) (Details) $ in Thousands	May. 18, 2012USD ($)ft²property	Mar. 31, 2016USD ($)ft²property	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	May. 02, 2014ft²
Schedule of Equity Method Investments [Line Items]
Rentable square feet | ft²		4,400,000
Initial capital contribution		$ 600	$ 840
Investments in unconsolidated joint ventures		$ 74,841		$ 74,437
NIP Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property		21
Rentable square feet | ft²	10,800,000
Initial capital contribution	$ 8,000
Investments in unconsolidated joint ventures		$ 5,305		5,305
NIP Joint Venture [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest	5.00%	5.00%
NIP Joint Venture [Member] | Industrial [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property	21
110 William Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Number of real estate properties | property		1
Rentable square feet | ft²					928,157
Ownership interest		60.00%
Investments in unconsolidated joint ventures		$ 69,536		$ 69,132
Area of land | ft²					0.8
Acquisition related costs		$ 1,500
110 William Joint Venture [Member] | 110 William JV Partner [Member]
Schedule of Equity Method Investments [Line Items]
Ownership interest					60.00%
Noncontrolling interest					40.00%

INVESTMENT IN UNCONSOLIDATED 50

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	Mar. 31, 2016USD ($)property	Dec. 31, 2015USD ($)	May. 18, 2012
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 74,841	$ 74,437
OCM NIP JV Holdings, L.P. and HC KBS NIP JV, LLC (“HC-KBS”) [Member]
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	21
Investment Balance	$ 5,305	5,305
OCM NIP JV Holdings, L.P. and HC KBS NIP JV, LLC (“HC-KBS”) [Member] | Maximum [Member]
Schedule of Equity Method Investments [Line Items]
Ownership %	5.00%		5.00%
110 William Joint Venture [Member]
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	1
Ownership %	60.00%
Investment Balance	$ 69,536	$ 69,132

INVESTMENT IN UNCONSOLIDATED 51

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summarized Financial Information - 110 William Joint Venture) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	$ 818,841		$ 822,514
Total assets	1,267,496		1,004,214
Other liabilities	27,350		17,905
Total Liabilities and Equity	1,267,496		1,004,214
Balance outstanding	832,547
Deferred financing costs, net	12,758		3,523
Income Statement [Abstract]
Revenues	28,365	$ 27,943
Operating, maintenance, and management	9,520	8,944
Real estate taxes and insurance	3,874	3,659
Depreciation and amortization	11,008	11,229
Interest expense	5,176	3,911
Total expenses	33,106	30,658
Net (loss) income attributable to common stockholders	(4,894)	2,235
Company’s equity in loss of unconsolidated joint venture	(196)	(218)
Mortgages [Member] | Mezzanine Loan [Member]
Balance Sheet Related Disclosures [Abstract]
Balance outstanding			20,000
110 William Joint Venture [Member]
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	268,618		269,664
Other assets	20,148		18,973
Total assets	288,766		288,637
Notes payable, net	161,210		162,395
Other liabilities	14,240		13,617
Partners’ capital	113,316		112,625
Total Liabilities and Equity	288,766		288,637
Income Statement [Abstract]
Revenues	8,251	8,285
Operating, maintenance, and management	2,505	2,703
Real estate taxes and insurance	1,434	1,336
Depreciation and amortization	3,121	3,060
Interest expense	1,516	1,533
Total expenses	8,576	8,632
Other income	16	1
Net (loss) income attributable to common stockholders	(309)	(346)
Company’s equity in loss of unconsolidated joint venture	(196)	$ (218)
110 William Joint Venture [Member] | Mortgages [Member] | First Mortgage Loan [Member]
Balance Sheet Related Disclosures [Abstract]
Balance outstanding	$ 138,000		138,600
Basis spread on variable rate	4.80%
110 William Joint Venture [Member] | Mortgages [Member] | Mezzanine Loan [Member]
Balance Sheet Related Disclosures [Abstract]
Balance outstanding	$ 20,000
Basis spread on variable rate	9.50%
110 William Joint Venture [Member] | Notes Payable [Member]
Balance Sheet Related Disclosures [Abstract]
Unamortized premium	$ 3,800		4,500
Deferred financing costs, net	$ 600		$ 700

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ in Millions	May. 10, 2016USD ($)aft²Tenantsproperty	May. 09, 2016USD ($)aft²Tenants	Apr. 22, 2016USD ($)	Mar. 31, 2016Tenants
Subsequent Event [Line Items]
Number of tenants | Tenants				500
Subsequent Event [Member] | Westpark Portfolio [Member]
Subsequent Event [Line Items]
Net rentable area | ft²	778,472
Area of land | a	41
Purchase price	$ 128
Percent of property leased	82.00%
Number of tenants | Tenants	100
Subsequent Event [Member] | Westpark Portfolio [Member] | Office/Flex/Industrial Buildings [Member]
Subsequent Event [Line Items]
Number of real estate properties acquired | property	21
Subsequent Event [Member] | 353 Sacramento [Member] | Scenario, Plan [Member]
Subsequent Event [Line Items]
Net rentable area | ft²		284,751
Area of land | a		0.35
Purchase price		$ 169.5
Percent of property leased		87.00%
Number of tenants | Tenants		25
Initial deposit paid by related party		$ 1
Earnest money deposit, amount that may be forfeited		$ 8
Subsequent Event [Member] | University House First Mortgage [Member]
Subsequent Event [Line Items]
Proceeds from notes receivable			$ 31.6