Pacific Oak Strategic Opportunity REIT (PCOK) 10-Q 14 May 19 2019 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2019	May 10, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	KBS Strategic Opportunity REIT, Inc.
Entity Central Index Key	0001452936
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Document Type	10-Q
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Amendment Flag	false
Entity Common Stock, Shares Outstanding		66,572,556

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Assets
Real estate held for investment, net	$ 652,485	$ 649,868
Real estate held for sale, net	0	31,252
Real estate equity securities	60,973	73,876
Real estate debt securities, net	0	10,859
Total real estate and real estate-related investments, net	713,458	765,855
Cash and cash equivalents	142,782	152,385
Restricted cash	9,497	10,342
Investments in unconsolidated joint ventures	47,373	44,869
Rents and other receivables, net	13,607	12,292
Above-market leases, net	3,276	3,377
Prepaid expenses and other assets	14,489	13,123
Assets related to real estate held for sale, net	0	2,746
Total assets	944,482	1,004,989
Notes and bonds payable, net
Notes and bonds payable related to real estate held for investment, net	589,608	632,627
Note payable related to real estate held for sale, net	0	22,845
Total notes and bonds payable, net	589,608	655,472
Accounts payable and accrued liabilities	14,100	19,506
Due to affiliate	82	36
Below-market leases, net	4,652	5,005
Other liabilities	19,176	21,006
Redeemable common stock payable	7,742	10,000
Total liabilities	635,360	711,025
Commitments and contingencies (Note 14)
Redeemable common stock	0	0
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, 66,584,729 and 66,822,861 shares issued and outstanding as of March 31, 2019 and December 31, 2018, respectively	666	668
Additional paid-in capital	547,775	547,770
Cumulative distributions and net income	(240,781)	(256,984)
Total KBS Strategic Opportunity REIT, Inc. stockholders’ equity	307,660	291,454
Noncontrolling interests	1,462	2,510
Total equity	309,122	293,964
Total liabilities and equity	$ 944,482	$ 1,004,989

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	66,584,729	66,822,861
Common stock, shares outstanding (in shares)	66,584,729	66,822,861

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Rental income	$ 18,373	$ 17,349
Other operating income	1,393	735
Interest income from real estate debt securities	369	501
Dividend income from real estate equity securities	1,776	1,051
Total revenues	21,911	19,636
Expenses:
Operating, maintenance, and management	6,271	5,487
Real estate taxes and insurance	2,977	2,339
Asset management fees to affiliate	1,891	1,825
General and administrative expenses	1,533	2,052
Foreign currency transaction loss, net	2,816	997
Depreciation and amortization	7,681	7,265
Interest expense	7,168	6,591
Total expenses	30,337	26,556
Other income (loss):
Income from unconsolidated joint venture	0	53
Equity in income (loss) of unconsolidated joint ventures, net	7,312	(2,378)
Other interest income	690	930
Gain (loss) on real estate equity securities	11,165	(16,011)
Gain on sale of real estate	7,575	624
Loss on extinguishment of debt	(856)	0
Total other income (loss), net	25,886	(16,782)
Net income (loss)	17,460	(23,702)
Net (income) loss attributable to noncontrolling interests	(679)	21
Net income (loss) attributable to common stockholders	$ 16,781	$ (23,681)
Net income (loss) per common share, basic and diluted (in dollars per share)	$ 0.25	$ (0.38)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	66,812,520	62,526,798

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY (unaudited) - USD ($) $ in Thousands	Total	Total Stockholders' Equity	Common Stock	Additional Paid-in Capital	Cumulative Distributions and Net Income	Accumulated Other Comprehensive Income	Noncontrolling Interests
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustments to retained earnings	$ 2,472	$ 2,472			$ 27,618	$ (25,146)
Balance (in shares) at Dec. 31, 2017			52,053,817
Balance at Dec. 31, 2017	260,983	259,013	$ 521	$ 388,800	(155,454)	25,146	$ 1,970
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(23,702)	(23,681)			(23,681)		(21)
Issuance of common stock (in shares)			41,681
Issuance of common stock	479	479	$ 1	478
Stock distribution issued (in shares)			13,069,487
Stock distribution issued	150,299	150,299	$ 130	150,169
Transfers from redeemable common stock	4,130	4,130		4,130
Redemptions of common stock (in shares)			(419,572)
Redemptions of common stock	(4,610)	(4,610)	$ (5)	(4,605)
Distributions declared	(1,034)	(1,034)			(1,034)
Noncontrolling interests contributions	8	0					8
Balance (in shares) at Mar. 31, 2018			64,745,413
Balance at Mar. 31, 2018	$ 389,025	387,068	$ 647	538,972	(152,551)	0	1,957
Balance (in shares) at Dec. 31, 2018	66,822,861		66,822,861
Balance at Dec. 31, 2018	$ 293,964	291,454	$ 668	547,770	(256,984)	0	2,510
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	17,460	16,781			16,781		679
Issuance of common stock (in shares)			28,784
Issuance of common stock	286	286	$ 1	285
Transfers from redeemable common stock	2,258	2,258		2,258
Redemptions of common stock (in shares)			(266,916)
Redemptions of common stock	(2,539)	(2,539)	$ (3)	(2,536)
Distributions declared	(578)	(578)			(578)
Other offering costs	(2)	(2)		(2)
Noncontrolling interests contributions	12	0					12
Distributions to noncontrolling interests	$ (1,739)	0					(1,739)
Balance (in shares) at Mar. 31, 2019	66,584,729		66,584,729
Balance at Mar. 31, 2019	$ 309,122	$ 307,660	$ 666	$ 547,775	$ (240,781)	$ 0	$ 1,462

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended		12 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Cash Flows from Operating Activities:
Net income (loss)	$ 17,460	$ (23,702)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Equity in (income) loss of unconsolidated joint ventures, net	(7,312)	2,378
Depreciation and amortization	7,681	7,265
(Gain) loss on real estate equity securities	(11,165)	16,011
Gain on sale of real estate	(7,575)	(624)
Loss on extinguishment of debt	856	0
Unrealized loss (gain) on interest rate caps	30	(31)
Deferred rent	(1,270)	(745)
Bad debt recovery	0	(366)
Amortization of above- and below-market leases, net	(252)	(226)
Amortization of deferred financing costs	869	789
Accretion of interest income on real estate debt securities	(13)	(107)
Net amortization of discount and (premium) on bond and notes payable	(20)	14
Foreign currency transaction loss, net	2,816	997
Changes in assets and liabilities:
Rents and other receivables	85	(1,000)
Prepaid expenses and other assets	(1,925)	(1,900)
Accounts payable and accrued liabilities	(7,292)	(3,802)
Due to affiliates	53	21
Other liabilities	(599)	15
Net cash used in operating activities	(7,573)	(5,013)
Cash Flows from Investing Activities:
Acquisitions of real estate	0	(238,170)
Improvements to real estate	(8,052)	(5,039)
Proceeds from sales of real estate, net	17,894	2,542
Distributions of capital from unconsolidated joint venture	7,800	386
Investment in real estate equity securities	(15)	(14,963)
Proceeds from the sale of real estate equity securities	24,076	0
Proceeds from principal repayment on real estate debt securities	7,750	0
Funding of development obligations	(21)	(621)
Net cash provided by (used in) investing activities	49,432	(255,865)
Cash Flows from Financing Activities:
Proceeds from notes and bonds payable	2,608	89,000
Principal payments on notes and bonds payable	(54,266)	(857)
Payments of deferred financing costs	(7)	(1,227)
Payments to redeem common stock	(2,539)	(4,610)
Payment of prepaid other offering costs	(2)	(213)
Distributions paid	(292)	(38,170)
Noncontrolling interests contributions	12	8
Distributions to noncontrolling interests	(1,739)	0
Other financing proceeds, net	1,822	0
Net cash (used in) provided by financing activities	(54,403)	43,931
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,096	(22)
Net decrease in cash, cash equivalents and restricted cash	(10,448)	(216,969)
Cash, cash equivalents and restricted cash, beginning of period	162,727	377,182	$ 377,182
Cash, cash equivalents and restricted cash, end of period	$ 152,279	$ 160,213	$ 162,727

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2019
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, which 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, 2018 (the “Advisory Agreement”). The Advisor conducts the Company’s operations and manages its portfolio of real estate and other real estate-related investments. 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, 2019 , the Company had sold 6,772,410 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $75.7 million . Also, as of March 31, 2019 , the Company had redeemed 23,045,646 shares for $277.9 million . As of March 31, 2019 , the Company had issued 25,976,746 shares of common stock in connection with special dividends. 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 $249.2 million as of March 8, 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. 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, 2019 , the Company consolidated six office properties, one office portfolio consisting of four office buildings and 14 acres of undeveloped land, one retail property, one apartment property and three investments in undeveloped land with approximately 1,000 developable acres and owned four investments in unconsolidated joint ventures and three investments in real estate equity securities.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2019
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, 2018 , except for the Company’s adoption of the lease accounting standards issued by the Financial Accounting Standards Board (“FASB”) effective on January 1, 2019 . 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, 2018 included in the Company’s Annual Report on Form 10-K filed with the SEC. Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the FASB 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, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . 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. Redeemable Common Stock The Company limits the dollar value of shares that may be redeemed under the share redemption program. During the three months ended March 31, 2019 , the Company had redeemed $2.5 million of common stock under the share redemption program. The Company processed all redemption requests received in good order and eligible for redemption through the March 2019 redemption date, except for 3,294,070 shares totaling $31.0 million due to the limitations under the share redemption program. The Company recorded $7.7 million and $10.0 million of redeemable common stock payable on the Company’s balance sheet as of March 31, 2019 and December 31, 2018 , respectively, related to unfulfilled redemption requests received in good order under the share redemption program. Based on the eleventh amended and restated share redemption program, the Company has $7.5 million available for redemptions in the remainder of 2019 , including shares that are redeemed in connection with a stockholders’ death, “qualifying disability” or “determination of incompetence,” subject to the limitations under the share redemption program. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three months ended March 31, 2018 , the Company reclassified $2.2 million of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes. Revenue Recognition - Operating Leases Real Estate On January 1, 2019 , the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019 . The Company’s comparative periods presented in the financial statements will continue to be reported under the lease accounting standards of Topic 840. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations beginning January 1, 2019 . In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations beginning January 1, 2019 . The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units under operating leases with terms generally of one year or less. Generally, credit investigations will be performed for prospective residents and security deposits will be obtained. The Company recognizes rental revenue, net of concessions, on a straight-line basis over the term of the lease, when collectibility is determined to be probable. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and tenant reimbursements and would recognize rental income only if cash is received. Beginning January 1, 2019, these changes to the Company’s collectibility assessment are reflected as an adjustment to rental income. Prior to January 1, 2019, bad debt expense related to uncollectible accounts receivable and deferred rent receivable was included in operating, maintenance, and management expense in the statement of operations. Any subsequent changes to the collectibility of the allowance for doubtful accounts as of December 31, 2018, which was recorded prior to the adoption of Topic 842, are recorded in operating, maintenance, and management expense in the statement of operations. Beginning January 1, 2019 , the Company, as a lessor, records costs to negotiate or arrange a lease that would have been incurred regardless of whether the lease was obtained, such as legal costs incurred to negotiate an operating lease, as an expense and classify such costs as operating, maintenance, and management expense on the Company’s consolidated statement of operations, as these costs are no longer capitalizable under the definition of initial direct costs under Topic 842. Segments The Company has invested in opportunistic real estate, non-performing loans and other real estate-related assets. In general, the Company intends to hold its investments in opportunistic real estate, non-performing loans and other real estate-related assets for capital appreciation. Traditional performance metrics of opportunistic real estate, non-performing loans 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 opportunistic real estate, non-performing loans and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from opportunistic real estate, non-performing loans 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, 2019 and 2018 . Distributions declared per share were $0.008600 and $0.015975 during the three months ended March 31, 2019 and 2018 , respectively. Square Footage, Occupancy and Other Measures Any references to square footage, occupancy or annualized base rent are unaudited and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. Recently Issued Accounting Standards Updates In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“ASU No. 2016-13”). ASU No. 2016-13 affects entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments in ASU No. 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU No. 2016-13 also amends the impairment model for available-for-sale debt securities. An entity will recognize an allowance for credit losses on available-for-sale debt securities as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. ASU No. 2016-13 also requires new disclosures. For financial assets measured at amortized cost, an entity will be required to disclose information about how it developed its allowance for credit losses, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. For financing receivables and net investments in leases measured at amortized cost, an entity will be required to further disaggregate the information it currently discloses about the credit quality of these assets by year of the asset’s origination for as many as five annual periods. For available-for-sale debt securities, an entity will be required to provide a roll-forward of the allowance for credit losses and an aging analysis for securities that are past due. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is still evaluating the impact of adopting ASU No. 2016-13 on its financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement (“ASU No. 2018-13”). The primary focus of ASU 2018-13 is to improve the effectiveness of the disclosure requirements for fair value measurements. ASU No. 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for the timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and to disclose the range and weighted average of significant unobservable inputs used to develop recurring and nonrecurring Level 3 fair value measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop the Level 3 fair value measurement. In addition, public entities are required to provide information about the measurement uncertainty of recurring Level 3 fair value measurements from the use of significant unobservable inputs if those inputs reasonably could have been different at the reporting date. ASU No. 2018-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company is still evaluating the impact of adopting ASU No. 2018-13 on its financial statements, but does not expect the adoption of ASU No. 2018-13 to have a material impact on its financial statements.

REAL ESTATE HELD FOR INVESTMENT

REAL ESTATE HELD FOR INVESTMENT	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
REAL ESTATE FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of March 31, 2019 , the Company owned six office properties, one office portfolio consisting of four office buildings and 14 acres of undeveloped land and one retail property, encompassing, in the aggregate, approximately 3.0 million rentable square feet. As of March 31, 2019 , these properties were 74% occupied. In addition, the Company owned one apartment property, containing 317 units and encompassing approximately 0.3 million rentable square feet, which was 94% occupied. The Company also owned three investments in undeveloped land with approximately 1,000 developable acres. The following table summarizes the Company’s real estate held for investment as of March 31, 2019 and December 31, 2018 , respectively (in thousands): March 31, 2019 December 31, 2018 Land $ 150,315 $ 148,880 Buildings and improvements 524,067 515,705 Tenant origination and absorption costs 31,005 31,584 Total real estate, cost 705,387 696,169 Accumulated depreciation and amortization (52,902 ) (46,301 ) Total real estate, net $ 652,485 $ 649,868 The following table provides summary information regarding the Company’s real estate held for investment as of March 31, 2019 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building Tenant Origination and Absorption Total Real Estate, at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office $ 1,037 $ 10,934 $ — $ 11,971 $ (2,982 ) $ 8,989 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 18,710 — 19,520 (4,631 ) 14,889 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,145 — 2,706 (792 ) 1,914 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,688 114 4,504 (1,273 ) 3,231 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0 % Total Richardson Portfolio 6,244 35,477 114 41,835 (9,678 ) 32,157 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 31,718 — — 31,718 — 31,718 100.0% (1) Burbank Collection 12/12/2012 Burbank CA Retail 4,175 12,322 302 16,799 (2,663 ) 14,136 90.0 % Park Centre 03/28/2013 Austin TX Office 3,251 30,160 — 33,411 (4,947 ) 28,464 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 38,723 — 47,015 (6,936 ) 40,079 100.0 % Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 26,154 — — 26,154 — 26,154 100.0% (1) Richardson Land II 09/04/2014 Richardson TX Undeveloped Land 3,418 — — 3,418 — 3,418 90.0 % Crown Pointe 02/14/2017 Dunwoody GA Office 22,590 65,806 5,085 93,481 (8,569 ) 84,912 100.0 % 125 John Carpenter 09/15/2017 Irving TX Office 2,755 77,051 8,723 88,529 (6,817 ) 81,712 100.0 % The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 76,599 4,271 91,257 (3,885 ) 87,372 100.0 % City Tower 03/06/2018 Orange CA Office 13,930 132,862 7,937 154,729 (7,257 ) 147,472 100.0 % Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 55,067 4,573 77,041 (2,150 ) 74,891 100.0 % $ 150,315 $ 524,067 $ 31,005 $ 705,387 $ (52,902 ) $ 652,485 _____________________ (1) The Company owns 100% of the common members’ equity of Park Highlands and Park Highlands II. On September 7, 2016 and January 8, 2019 , a subsidiary of the Company that owns a portion of Park Highlands and Park Highlands II, sold 820 units of 10% Class A non-voting preferred membership units for $0.8 million and 1,927 units of 10% Class A2 non-voting preferred membership units for $1.9 million , respectively, to accredited investors. The amount of the Class A and A2 non-voting preferred membership units raised, net of offering costs, is included in other liabilities on the accompanying consolidated balance sheets. (2) This property was formerly known as Marquette Plaza and was re-named The Marq in connection with the Company’s re-branding strategy for this property. 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, 2019 , 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 13.2 years with a weighted-average remaining term of 4.9 years. Some of the leases have provisions to extend the lease agreements, options for early termination after paying a specified penalty 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 related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $3.6 million and $3.7 million as of March 31, 2019 and December 31, 2018 , respectively. During the three months ended March 31, 2019 and 2018 , the Company recognized deferred rent from tenants of $1.3 million and $0.7 million , respectively, net of lease incentive amortization. As of March 31, 2019 and December 31, 2018 , the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $11.1 million and $9.8 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $1.3 million of unamortized lease incentives as of March 31, 2019 and December 31, 2018 . As of March 31, 2019 , 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, 2019 through December 31, 2019 $ 40,401 2020 53,226 2021 48,885 2022 42,233 2023 36,847 Thereafter 114,555 $ 336,147 As of March 31, 2019 , the Company’s commercial real estate properties were leased to approximately 250 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 Health Care and Social Services 17 $ 7,397 13.2 % Insurance 22 6,086 10.8 % $ 13,483 24.0 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of March 31, 2019 , 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. During the three months ended March 31, 2019 , the Company recorded an adjustment to rental income of $0.1 million for lease payments that were deemed not probable of collection. During the three months ended March 31, 2019 and 2018 , the Company recorded bad debt recoveries of $0.2 million and $0.4 million , respectively, which were included in operating, maintenance and management expense in the accompanying consolidated statements of operations. Geographic Concentration Risk As of March 31, 2019 , the Company’s real estate investments in California and Texas represented 17.1% and 15.4% , respectively, of the Company’s total assets. As a result, the geographic concentration of the Company’s portfolio makes it particularly susceptible to adverse economic developments in the California 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. Sale of Real Estate As of December 31, 2018 and March 31, 2019 , the Company had recorded contract liabilities of $3.1 million related to deferred proceeds received from the buyers of the Park Highlands land sales and another developer for the value of land that was contributed to a master association that is consolidated by the Company, which was included in other liabilities on the accompanying consolidated balance sheets.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	3 Months Ended
	Mar. 31, 2019
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, 2019 and December 31, 2018 , 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, 2019 December 31, 2018 March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Cost $ 31,005 $ 31,584 $ 3,714 $ 3,714 $ (6,519 ) $ (6,653 ) Accumulated Amortization (8,446 ) (7,421 ) (438 ) (337 ) 1,867 1,648 Net Amount $ 22,559 $ 24,163 $ 3,276 $ 3,377 $ (4,652 ) $ (5,005 ) 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, 2019 and 2018 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended March 31, For the Three Months Ended March 31, For the Three Months Ended March 31, 2019 2018 2019 2018 2019 2018 Amortization $ (1,604 ) $ (1,537 ) $ (101 ) $ (44 ) $ 353 $ 270 Additionally, as of March 31, 2019 and December 31, 2018 , the Company had recorded tax abatement intangible assets, net of amortization, on real estate held for investment, which are included in prepaid expenses and other assets in the accompanying balance sheets, of $1.4 million and $1.6 million , respectively. Also, as of December 31, 2018 , the Company had recorded tax abatement intangible assets, net of amortization, on real estate held for sale, which are included in assets related to real estate held for sale, net in the accompanying balance sheets, of $2.7 million . During each of the three months ended March 31, 2019 and 2018 , the Company recorded amortization expense of $0.2 million related to tax abatement intangible assets.

REAL ESTATE EQUITY SECURITIES

REAL ESTATE EQUITY SECURITIES	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE EQUITY SECURITIES	REAL ESTATE EQUITY SECURITIES As of March 31, 2019 , the Company owned three investments in real estate equity securities. The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of March 31, 2019 and December 31, 2018 (dollars in thousands): March 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT 95,160 $ 1,144 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 39,886 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 19,943 2,772,529 17,273 59,848,241 $ 60,973 61,533,775 $ 73,876 During the three months ended March 31, 2019 , the Company sold 1,686,734 shares of common stock of Whitestone REIT (NYSE Ticker: WSR) for an aggregate sale price of $24.1 million . The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 11,165 $ (16,011 ) Less net gain recognized during the period on real estate equity securities sold during the period (3,397 ) — Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at the end of the period $ 7,768 $ (16,011 ) During the three months ended March 31, 2019 and 2018 , the Company recognized $1.8 million and $1.1 million , respectively, of dividend income from real estate equity securities. REAL ESTATE DEBT SECURITIES The information for real estate debt securities as of March 31, 2019 and December 31, 2018 is set forth below (in thousands): Debt Securities Name Dates Acquired Debt Securities Type Outstanding Principal Balance as of Book Value as of Book Value as of Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units (4) 10/28/2016 / 03/30/2017 / 05/12/2017 Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) $ — $ — $ 10,859 _____________________ (1) On March 20, 2019 , the Company, through an indirect wholly owned subsidiary, entered into a redemption agreement for the Battery Point Series B Preferred Units. The redemption agreement resulted in the redemption of 13,000 Series B Preferred Units with a per-unit price of $1,000 . The Company received $8.6 million , of which $0.9 million relates to accrued interest and an exit fee. In addition, the Company received 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 . The Series A-3 Preferred Units were classified as an equity investment without a readily determinable fair value (see note 12 “Investment in Unconsolidated Joint Ventures” for further information). The following summarizes the activity related to real estate debt securities for the three months ended March 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment of Series B Preferred Units (7,750 ) Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units (2,992 ) Receipt of deferred interest receivable (130 ) Deferred interest receivable 4 Accretion of commitment fee, net of closing costs 9 Real estate debt securities - March 31, 2019 $ — For the three months ended March 31, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended March 31, 2019 2018 Contractual interest income $ 356 $ 394 Interest accretion 4 96 Accretion of commitment fee, net of closing costs and acquisition fee 9 11 Interest income from real estate debt securities $ 369 $ 501

REAL ESTATE DEBT SECURITIES

REAL ESTATE DEBT SECURITIES	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE DEBT SECURITIES	REAL ESTATE EQUITY SECURITIES As of March 31, 2019 , the Company owned three investments in real estate equity securities. The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of March 31, 2019 and December 31, 2018 (dollars in thousands): March 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT 95,160 $ 1,144 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 39,886 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 19,943 2,772,529 17,273 59,848,241 $ 60,973 61,533,775 $ 73,876 During the three months ended March 31, 2019 , the Company sold 1,686,734 shares of common stock of Whitestone REIT (NYSE Ticker: WSR) for an aggregate sale price of $24.1 million . The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 11,165 $ (16,011 ) Less net gain recognized during the period on real estate equity securities sold during the period (3,397 ) — Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at the end of the period $ 7,768 $ (16,011 ) During the three months ended March 31, 2019 and 2018 , the Company recognized $1.8 million and $1.1 million , respectively, of dividend income from real estate equity securities. REAL ESTATE DEBT SECURITIES The information for real estate debt securities as of March 31, 2019 and December 31, 2018 is set forth below (in thousands): Debt Securities Name Dates Acquired Debt Securities Type Outstanding Principal Balance as of Book Value as of Book Value as of Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units (4) 10/28/2016 / 03/30/2017 / 05/12/2017 Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) $ — $ — $ 10,859 _____________________ (1) On March 20, 2019 , the Company, through an indirect wholly owned subsidiary, entered into a redemption agreement for the Battery Point Series B Preferred Units. The redemption agreement resulted in the redemption of 13,000 Series B Preferred Units with a per-unit price of $1,000 . The Company received $8.6 million , of which $0.9 million relates to accrued interest and an exit fee. In addition, the Company received 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 . The Series A-3 Preferred Units were classified as an equity investment without a readily determinable fair value (see note 12 “Investment in Unconsolidated Joint Ventures” for further information). The following summarizes the activity related to real estate debt securities for the three months ended March 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment of Series B Preferred Units (7,750 ) Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units (2,992 ) Receipt of deferred interest receivable (130 ) Deferred interest receivable 4 Accretion of commitment fee, net of closing costs 9 Real estate debt securities - March 31, 2019 $ — For the three months ended March 31, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended March 31, 2019 2018 Contractual interest income $ 356 $ 394 Interest accretion 4 96 Accretion of commitment fee, net of closing costs and acquisition fee 9 11 Interest income from real estate debt securities $ 369 $ 501

REAL ESTATE SALES

REAL ESTATE SALES	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE SALES	REAL ESTATE SALES During the three months ended March 31, 2019 , the Company disposed of one apartment property. During the year ended December 31, 2018 , the Company disposed of one office building and one office/flex/industrial portfolio consisting of 21 buildings. On November 12, 2013, the Company, through an indirect wholly owned subsidiary, and EE 424 Bedford OM, LLC entered into an agreement to form a joint venture (the “424 Bedford Joint Venture”), and on January 31, 2014, the 424 Bedford Joint Venture acquired an apartment building containing 66 units in Brooklyn, New York (“424 Bedford”). On January 11, 2019, the 424 Bedford Joint Venture sold 424 Bedford to a purchaser unaffiliated with the Company or the Advisor, for $43.8 million before closing costs and credits. The carrying value of 424 Bedford as of the disposition date was $34.0 million , which was net of $5.3 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $7.6 million related to the disposition of 424 Bedford. The following summary presents the major components of assets and liabilities related to real estate held for sale as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ — $ 34,793 Accumulated depreciation and amortization — (3,541 ) Real estate, net — 31,252 Other assets — 2,746 Total assets related to real estate held for sale $ — $ 33,998 Liabilities related to real estate held for sale Notes payable, net — 22,845 Total liabilities related to real estate held for sale $ — $ 22,845 The operations of these properties and gain on sales are included in continuing operations on the accompanying statements of operations. The following table summarizes certain revenue and expenses related to these properties for the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Revenues Rental income $ 121 $ 5,221 Total revenues $ 121 $ 5,221 Expenses Operating, maintenance, and management $ (83 ) $ 1,118 Real estate taxes and insurance (67 ) 447 Asset management fees to affiliate 76 462 Depreciation and amortization 15 2,623 Interest expense 35 1,497 Total expenses $ (24 ) $ 6,147

NOTES AND BOND PAYABLE

NOTES AND BOND PAYABLE	3 Months Ended
	Mar. 31, 2019
Notes and Bonds Payable [Abstract]
NOTES AND BOND PAYABLE	NOTES AND BONDS PAYABLE As of March 31, 2019 and December 31, 2018 , the Company’s notes and bonds payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of March 31, 2019 Book Value as of December 31, 2018 Contractual Interest Rate as of March 31, 2019 (1) Effective Interest Rate at March 31, 2019 (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.99% Interest Only (3) 11/01/2021 Park Centre Mortgage Loan 8,035 8,404 One-Month LIBOR + 2.25% 4.74% Principal & Interest 07/01/2019 Burbank Collection Mortgage Loan 10,656 10,716 One-Month LIBOR + 2.35% 4.85% Principal & Interest 09/30/2019 1180 Raymond Mortgage Loan 30,542 30,637 One-Month LIBOR + 2.25% 4.74% Principal & Interest 12/01/2019 1180 Raymond Bond Payable 6,230 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (4) — 23,710 (4) (4) (4) (4) KBS SOR (BVI) Holdings, Ltd. Series A Debentures (5) 213,630 259,516 4.25% 4.25% (5) 03/01/2023 Crown Pointe Mortgage Loan 51,171 51,171 One-Month LIBOR + 2.60% 5.09% Interest Only 02/13/2020 125 John Carpenter Mortgage Loan 53,204 53,204 One-Month LIBOR + 1.75% 4.24% Interest Only 10/01/2022 City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 4.04% Interest Only 03/05/2021 The Marq Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 4.04% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 4.09% Interest Only 06/08/2021 Total Notes and Bonds Payable principal outstanding 595,756 663,318 Net Premium/(Discount) on Notes and Bonds Payable (6) 862 198 Deferred financing costs, net (7,010 ) (8,044 ) Total Notes and Bonds Payable, net $ 589,608 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2019 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of March 31, 2019 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) Represents the payment type required under the loan as of March 31, 2019 . 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. (4) On January 11, 2019, in connection with the disposition of 424 Bedford, the buyer assumed the mortgage loan secured by 424 Bedford with an outstanding principal balance of $23.7 million at the time of the sale. (5) See “ – Israeli Bond Financing” below. (6) 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, 2019 and 2018 , the Company incurred $7.2 million and $6.6 million , respectively, of interest expense. Included in interest expense for the three months ended March 31, 2019 and 2018 was $0.9 million and $0.8 million , respectively, of amortization of deferred financing costs. Additionally, during the three months ended March 31, 2019 and 2018 , the Company capitalized $0.7 million and $0.6 million , respectively, of interest related to its investments in undeveloped land. As of March 31, 2019 and December 31, 2018 , the Company’s interest payable was $2.3 million and $5.2 million , respectively. The following is a schedule of maturities, including principal amortization payments, for all notes and bonds payable outstanding as of March 31, 2019 (in thousands): April 1, 2019 through December 31, 2019 $ 49,383 2020 104,932 2021 275,773 2022 106,851 2023 53,662 Thereafter 5,155 $ 595,756 The Company’s notes payable contain financial debt covenants. As of March 31, 2019 , the Company was in compliance with all of these debt covenants. 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 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 $249.2 million as of March 8, 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 five equal annual installment principal payments on March 1st of each year from 2019 to 2023. On March 1, 2019 , the Company paid the first principal installment payment of 194.0 million Israeli new Shekels (approximately $53.6 million as of March 1, 2019 ). As of March 31, 2019 , the Company had one foreign currency collar for an aggregate notional amount of 776.2 million Israeli new Shekels to hedge its exposure to foreign currency exchange rate movements. See note 9 , “Derivative Instruments” for a further discussion on the Company’s foreign currency collar. The deed of trust that governs the terms of the Debentures contains various financial covenants. As of March 31, 2019 , the Company was in compliance with all of these financial debt covenants.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates and foreign currency exchange rate movements. The primary goal of the Company’s risk management practices related to interest rate risk is to prevent changes in interest rates from adversely impacting the Company’s ability to achieve its investment return objectives. The Company does not enter into derivatives for speculative purposes. The Company enters into foreign currency options and foreign currency collars to mitigate its exposure to foreign currency exchange rate movements on its bonds payable outstanding denominated in Israeli new Shekels. A foreign currency collar consists of a purchased call option to buy and a sold put option to sell Israeli new Shekels. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options’ strike prices. A foreign currency option consists of a call option to buy Israeli new Shekels. The following table summarizes the notional amount and other information related to the Company’s foreign currency collar as of March 31, 2019 and December 31, 2018 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (currency in thousands): March 31, 2019 December 31, 2018 Strike Price Trade Date Maturity Date Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Foreign currency collar 1 776,182 ILS — — 3.49 - 3.62 ILS - USD 02/27/2019 08/23/2019 Foreign currency collar — — 1 776,182 ILS 3.54 - 3.66 ILS - USD 08/20/2018 02/28/2019 The Company enters into interest rate caps to mitigate its exposure to rising interest rates on its variable rate notes payable. The values of interest rate caps are primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of interest rate caps. As the remaining life of an interest rate cap decreases, the value of the instrument will generally decrease towards zero. As of March 31, 2019 , the Company had entered into two interest rate caps, which were not designated as a hedging instruments. The following table summarizes the notional amounts and other information related to the Company’s derivative instruments as of March 31, 2019 . The notional amount is an indication of the extent of the Company’s involvement in the instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): Derivative Instrument Effective Date Maturity Date Notional Value Reference Rate Interest rate cap 02/21/2017 02/13/2020 $ 46,875 One-month LIBOR at 3.00% Interest rate cap 04/02/2018 03/05/2021 $ 77,513 One-month LIBOR at 3.50% The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of March 31, 2019 and December 31, 2018 (dollars in thousands): March 31, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Derivative instruments not designated as hedging instruments Interest rate caps Prepaid expenses and other assets 2 $ 4 2 $ 34 Foreign currency collar Other liabilities 1 $ (1,405 ) 1 $ (4,393 ) The change in fair value of foreign currency options and collars that are not designated as cash flow hedges are recorded as foreign currency transaction gains or losses in the accompanying consolidated statements of operations. During the three months ended March 31, 2019 , the Company recognized a $3.0 million gain related to the foreign currency collars, which is shown net against $5.8 million of foreign currency transaction loss in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the three months ended March 31, 2018 , the Company recognized a $2.0 million loss related to a foreign currency option, which is shown net against $1.0 million of foreign currency transaction gain in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the three months ended March 31, 2019 , the Company recorded an unrealized loss of $30,000 on interest rate caps, which was included in interest expense on the accompanying consolidated statements of operations. During the three months ended March 31, 2018 , the Company recorded an unrealized gain of $31,000 on interest rate caps, which was included as an offset to interest expense on the accompanying consolidated statements of operations.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2019
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, restricted cash, rent and other receivables and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. Real estate equity securities : The Company’s real estate equity securities are presented at fair value on the accompanying consolidated balance sheet. The fair values of the real estate equity securities were based on quoted prices in an active market on a major stock exchange. The Company classifies these inputs as Level 1 inputs. Real estate debt securities : The Company’s real estate debt securities are presented in the accompanying consolidated balance sheets at their amortized cost net of recorded loss reserves (if any) and not at fair value. The fair value of real estate debt securities was estimated using an internal valuation model that considers the expected cash flows for the debt securities, underlying collateral values (for collateral dependent securities) and estimated yield requirements of institutional investors for real estate debt securities with similar characteristics, including remaining term, 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, 2019 for the fair value of its bonds issued in Israel. The Company classifies this input as a Level 1 input. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The fair value of interest rate caps (floors) are determined using the market standard methodology of discounting the future expected cash payments (receipts) which would occur if variable interest rates rise above (below) the strike rate of the caps (floors). The variable interest rates used in the calculation of projected payments (receipts) on the cap (floor) are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. The fair value of foreign currency option and collar is based on a Black-Scholes model tailored for currency derivatives. The following were the face values, carrying amounts and fair values of the Company’s financial instruments as of March 31, 2019 and December 31, 2018 , which carrying amounts do not approximate the fair values (in thousands): March 31, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate debt securities (1) $ — $ — $ — $ 13,000 $ 10,859 $ 10,859 Financial liabilities: Notes and bond payable $ 382,126 $ 380,029 $ 385,153 $ 403,802 $ 400,470 $ 407,449 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 213,630 $ 209,579 $ 213,301 $ 259,516 $ 255,002 $ 255,814 _____________________ (1) Carrying amount of real estate debt securities includes other-than-temporary impairment. 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. As of March 31, 2019 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Basis: Real estate equity securities $ 60,973 $ 60,973 $ — $ — Asset derivative - interest rate caps $ 4 $ — $ 4 $ — Liability derivative - foreign currency collar $ (1,405 ) $ — $ (1,405 ) $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2019
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, or previously served 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 such insurance coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the program, and is billed directly to each entity. In June 2015, KBS Growth & Income REIT was added to the insurance program at terms similar to those described above. KBS REIT I elected to cease participation in the program at the June 2017 renewal and obtained separate insurance coverage. At renewal in June 2018, the Company, KBS Strategic Opportunity REIT II and KBS Legacy Partners Apartment REIT elected to cease participation in the program and obtain separate insurance coverage. The Company, together with KBS Strategic Opportunity REIT II, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each REIT covered by the program, and is billed directly to each REIT. The program is effective through June 30, 2019. During the three months ended March 31, 2019 and 2018 , 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, 2019 and 2018 , respectively, and any related amounts payable as of March 31, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, 2019 December 31, 2018 2019 2018 Expensed Asset management fees $ 1,891 $ 1,825 $ — $ — Reimbursable operating expenses (1) 89 83 82 29 Disposition fees (2) 394 — — — Capitalized Acquisition fees on real estate — 2,360 — — Acquisition fees on real estate equity securities — 148 — 7 $ 2,374 $ 4,416 $ 82 $ 36 _____________________ (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 $71,000 and $83,000 for the three months ended March 31, 2019 and 2018 , 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. On November 8, 2017, the Company sold 11 of its properties to various subsidiaries of Keppel-KBS US REIT (the “SREIT”). On November 30, 2018, the Company sold a portfolio of 21 office/flex/industrial buildings to the SREIT. The SREIT is externally managed by a joint venture (the “Manager”) between (i) an entity in which Keith D. Hall, the Company’s Chief Executive Officer and a director, and Peter McMillan III, the Company’s President and Chairman of the board of directors, have an indirect ownership interest and (ii) Keppel Capital Holding Pte. Ltd., which is not affiliated with the Company. The SREIT is expected to pay certain purchase and sale commissions and asset management fees to the Manager in exchange for the provision of certain management services. On March 20, 2019, Pacific Oak Battery Point Holdings, LLC, a real estate asset management company formed in 2019, and its family of companies (collectively, “Pacific Oak”), acquired all the common equity interests in BPT Holdings, LLC (“Battery Point Holdings”). Battery Point Holdings owns (a) the common stock in Battery Point Trust, Inc. (“Battery Point”), (b) all the service entities that provide advisory, servicing and property management services to Battery Point Holdings generally named “DayMark”, and (c) 40% of additional DayMark entities that purchase, renovate, lease and sell single-family residential homes to Battery Point. As owner of Battery Point Holdings, Pacific Oak will be responsible for funding the ongoing operations of Battery Point Holdings and its subsidiaries. The affiliated DayMark service entities will be paid annual asset management fees equal to 1.5% of the gross asset value of Battery Point, annual property management fees equal to 8% of tenants’ rents received by Battery Point, and acquisition fees of 1% of the gross purchase price of properties acquired. The affiliated DayMark service entities will also receive fees from tenants upon execution of leases and a 1% commission from sellers of properties into the program, if it acts as the broker for the seller. Pacific Oak is a group of companies founded and owned by Keith D. Hall, the Company’s Chief Executive Officer and a director, and Peter McMillan III, the Company’s President and Chairman of the Board of Directors. As of March 31, 2019 , the Company had 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 .

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	3 Months Ended
	Mar. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES As of March 31, 2019 and December 31, 2018 , the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands): Number of Properties at March 31, 2019 Investment Balance at Joint Venture Location Ownership % March 31, 2019 December 31, 2018 NIP Joint Venture 2 Various Less than 5.0% $ 1,476 $ 1,476 110 William Joint Venture 1 New York, New York 60.0% — 325 353 Sacramento Joint Venture 1 San Francisco, California 55.0% 42,905 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 2,992 — $ 47,373 $ 44,869 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 has invested in a portfolio of industrial properties. 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, 2019 . Prior to January 17, 2018, KBS REIT I, an affiliate of the Advisor, was a member of HC-KBS and had a participation interest in certain future potential profits generated by the NIP Joint Venture. However, KBS REIT I did not have any equity interest in the NIP Joint Venture. On January 17, 2018, KBS REIT I assigned its participation interest in the NIP Joint Venture to one of the other joint venture partners in the NIP Joint Venture. None of the other joint venture partners are affiliated with the Company or the Advisor. During the three months ended March 31, 2019 , the Company did no t receive any distributions related to its investment in the NIP Joint Venture. During the three months ended March 31, 2018 , the Company received a distribution of $0.4 million related to its investment in the NIP Joint Venture. The Company recognized $0.1 million of income distributions and $0.3 million of return of capital from the NIP Joint Venture. Investment in 110 William Joint Venture On December 23, 2013, the Company, through an indirect wholly owned subsidiary, entered into an agreement with SREF III 110 William JV, LLC (the “110 William JV Partner”) to form a joint venture (the “110 William Joint Venture”). 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 December 31, 2018 , the book value of the Company’s investment in the 110 William Joint Venture was $0.3 million , which includes $1.4 million of unamortized acquisition fees and expenses incurred directly by the Company. During the three months ended March 31, 2018 , the Company recorded $1.5 million equity in loss from the 110 William Joint Venture. During the three months ended March 31, 2018 , the Company did no t receive any distributions related to its investment in the 110 William Joint Venture. As of March 31, 2019 , the book value of the Company’s investment in the 110 William Joint Venture was $0 . During the three months ended March 31, 2019 , the Company recorded $7.5 million equity in income from the 110 William Joint Venture, which includes a $7.8 million gain related to a distribution received, net of the Company’s share of net losses of $0.3 million . During the three months ended March 31, 2019 , the 110 William Joint Venture made a $7.8 million distribution to the Company and a $5.2 million distribution to the 110 William JV Partner funded with proceeds from the 110 William refinancing (discussed below). The distribution exceeded the book value of the Company’s investment in the 110 William Joint Venture, and the Company recorded the $7.8 million distribution as a gain included in equity in income of unconsolidated joint ventures during the three months ended March 31, 2019 . This gain was recorded because the Company determined that the distribution is not refundable and it does not have an implicit or explicit commitment to fund the 110 William Joint Venture. The Company will suspend the equity method of accounting and will not record additional equity in losses and will not record any subsequent equity in income for the 110 William Joint Venture until the Company’s share of net income exceeds the gain recorded and the Company’s share of the net losses not recognized during the period the equity method was suspended. Summarized financial information for the 110 William Joint Venture follows (in thousands): March 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 239,748 $ 235,613 Other assets 28,379 37,337 Total assets $ 268,127 $ 272,950 Liabilities and equity: Notes payable, net $ 276,215 $ 267,311 Other liabilities 9,616 7,485 Partners’ deficit (17,704 ) (1,846 ) Total liabilities and equity $ 268,127 $ 272,950 Three Months Ended March 31, 2019 2018 Revenues $ 8,259 $ 9,809 Expenses: Operating, maintenance, and management 2,171 2,466 Real estate taxes and insurance 1,706 1,635 Depreciation and amortization 2,665 4,219 Interest expense 4,608 4,117 Total expenses 11,150 12,437 Total other income 33 13 Net loss $ (2,858 ) $ (2,615 ) Company’s share of net loss (1) $ (1,715 ) $ (1,569 ) _____________________ (1) During the three months ended March 31, 2019 , the Company recorded a $0.3 million of net losses in equity in income of unconsolidated joint ventures and suspended the recording of the Company’s remaining share of net losses. 110 William Street Refinancing On March 7, 2019, the 110 William Joint Venture closed on refinancing of the 110 William Street existing loans (the “Refinancing”). The 110 William Joint Venture repaid $268.0 million of principal related to the existing 110 William Street loans. The Refinancing is comprised of a mortgage loan with Invesco CMI Investments, L.P., an unaffiliated lender, for borrowings of up to $261.4 million , which is secured by 110 William Street (the “110 William Street Mortgage Loan”) and a mezzanine loan with Invesco CMI Investments, L.P., an unaffiliated lender, for borrowings of up to $87.1 million (the “110 William Street Mezzanine Loan”). The 110 William Street Mortgage Loan is comprised of a senior mortgage loan of $215.5 million (the “Senior Mortgage Loan”) and an amended and restated building loan of $45.9 million (the “Building Loan”) to be use for future tenant improvements, leasing commissions and capital expenditures. The 110 William Street Mortgage Loan and the 110 William Street Mezzanine Loan mature on April 9, 2021, with three one -year extension options. The 110 William Street Mortgage Loan bears interest at a rate of the greater of (a) 3.5% or (b) 150 basis points over one-month LIBOR. The 110 William Street Mezzanine Loan bears interest at a rate of the greater of (a) 6.9% or (b) 490 basis points over one-month LIBOR. The 110 William Joint Venture entered into an interest rate cap that effectively limits one-month LIBOR at 3.75% on $348.5 million , effective March 7, 2019 through March 15, 2021. The 110 William Street Mortgage Loan and the 110 William Street Mezzanine Loan have monthly payments that are interest-only with the entire unpaid principal balance and all outstanding interest and fees due at maturity. The 110 William Joint Venture has the right to prepay the loans at any time in whole, but not in part, subject to a prepayment fee if prepaid prior to May 9, 2020 and subject to certain other conditions contained in the loan documents. At closing, $210.8 million of the Senior Mortgage Loan and $70.3 million of the 110 William Street Mezzanine Loan was funded with $4.7 million of the Senior Mortgage Loan, $45.9 million of the Building Loan and $16.8 million of the 110 William Street Mezzanine Loan available for future funding, subject to certain terms and conditions contained in the loan documents. Investment in 353 Sacramento Joint Venture On July 6, 2017, the Company, through an indirect wholly owned subsidiary, entered into an agreement with the Migdal Members to form a joint venture (the “353 Sacramento Joint Venture”). On July 6, 2017, the Company sold a 45% equity interest in an entity that owns an office building containing 284,751 rentable square feet located on approximately 0.35 acres of land in San Francisco, California (“353 Sacramento”) to the Migdal Members. The sale resulted in 353 Sacramento being owned by the 353 Sacramento Joint Venture, in which the Company indirectly owns 55% of the equity interests and the Migdal Members indirectly own 45% in the aggregate of the equity interests. The Company exercises significant influence over the operations, financial policies and decision making with respect to the 353 Sacramento Joint Venture but significant decisions require approval from both members. Accordingly, the Company has accounted for its investment in the 353 Sacramento Joint Venture under the equity method of accounting. Income, losses, contributions and distributions are generally allocated based on the members’ respective equity interests. During the three months ended March 31, 2019 and 2018 , the Company did no t receive any distributions related to its investment in the 353 Sacramento Joint Venture. Summarized financial information for the 353 Sacramento Joint Venture follows (in thousands): March 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 180,168 $ 180,852 Other assets 12,520 13,123 Total assets $ 192,688 $ 193,975 Liabilities and equity: Notes payable, net $ 108,810 $ 105,593 Other liabilities 6,719 10,863 Partners’ capital 77,159 77,519 Total liabilities and equity $ 192,688 $ 193,975 Three Months Ended March 31, 2019 2018 Revenues $ 4,157 $ 2,669 Expenses: Operating, maintenance, and management 831 878 Real estate taxes and insurance 700 612 Depreciation and amortization 1,567 1,450 Interest expense 1,419 1,239 Total expenses 4,517 4,179 Net loss (360 ) (1,510 ) Company’s equity in loss of unconsolidated joint venture $ (163 ) $ (798 ) Battery Point Series A-3 Preferred Units Beginning October 28, 2016, the Company invested in Battery Point Series B Preferred Units which were classified as real estate debt securities on the Company’s accompanying balance sheets (see note 6 “Real Estate Debt Securities” for further information). On March 20, 2019, the Company, through an indirect wholly owned subsidiary, entered into a redemption agreement for the Battery Point Series B Preferred Units. The redemption agreement resulted in the redemption of the Company’s entire investment of 13,000 Series B Preferred Units with a per-unit price of $1,000 with an aggregate outstanding principal balance of $13 million . The Company received a principal paydown of $7.7 million plus accrued interest and an exit fee. In addition, the Company received 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 with an aggregate face amount of $5.3 million . The Battery Point Series A-3 Preferred Units are entitled to a monthly dividend based on an annual rate of 7.5% . The annual dividend rate increases to 10% for the Battery Point Series A-3 Preferred Units not redeemed by February 28, 2020 and to 11% for the Battery Point Series A-3 Preferred Units not redeemed by February 28, 2021. On each monthly dividend payment date, Battery Point has the obligation to use 20% of the net proceeds of any and all future equity capital raising to redeem the Series A-3 Preferred Units. The Battery Point Series A-3 Preferred Units are redeemable at any time by Battery Point and holders of Series A-3 Preferred Shares may elect to redeem their units beginning on February 28, 2021, subject to Battery Point’s board of directors’ determination that the company has sufficient cash. The Company does not have a unilateral right to redeem the Battery Point Series A-3 Preferred Units on a stated redemption date, therefore the Company classified the Series A-3 Preferred Units as an equity investment without a readily determinable fair value. In accordance with FASB ASC 321, Investments - Equity Securities , the Company may elect to measure an equity investment without a readily determinable value that does not qualify for the practical expedient to estimate fair value using the net asset value per share, at its cost minus impairment, if any, plus or minus changes resulting from observable price changes in orderly transactions for the identical or a similar investment of the same issuer. The Company elected to measure its investment in the Battery Point Series A-3 Preferred Units in accordance with the above accounting guidance and recorded its investment in the Battery Point Series A-3 Preferred Units as of March 31, 2019 , at a carrying value of $3.0 million .

SUPPLEMENTAL CASH FLOW AND SIGN

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands): Three Months Ended March 31, 2019 2018 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $694 and $650 for the three months ended March 31, 2019 and 2018 , respectively $ 9,127 $ 8,460 Supplemental Disclosure of Significant Noncash Transactions: Accrued improvements to real estate 5,108 6,019 Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — Redeemable common stock payable 7,742 — Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 286 479 Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend — 150,299 Redemption of Series B Preferred Units in exchange for Series A-3 Preferred Units 2,992 —

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2019
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, 2019 . 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. Participation Fee Liability Pursuant to the Advisory Agreement currently in effect with the Advisor, the Advisor is due a subordinated participation in the Company’s net cash flows (the “Incentive Fee”) if, after the stockholders have received, together as a collective group, aggregate distributions (including distributions that may constitute a return of capital for federal income tax purposes) sufficient to provide (i) a return of their net invested capital, or the amount calculated by multiplying the total number of shares purchased by stockholders by the issue price, reduced by any amounts to repurchase shares pursuant to the share redemption program, and (ii) a 7.0% per year cumulative, noncompounded return on such net invested capital, the Advisor is entitled to receive 15.0% of the Company’s net cash flows, whether from continuing operations, net sale proceeds or otherwise. Net sales proceeds means the net cash proceeds realized by the Company after deduction of all expenses incurred in connection with a sale, including disposition fees paid to the Advisor. The 7.0% per year cumulative, noncompounded return on net invested capital is calculated on a daily basis. In making this calculation, the net invested capital is reduced to the extent distributions in excess of a cumulative, noncompounded, annual return of 7.0% are paid (from whatever source), except to the extent such distributions would be required to supplement prior distributions paid in order to achieve a cumulative, noncompounded, annual return of 7.0% (invested capital is only reduced as described in this sentence; it is not reduced simply because a distribution constitutes a return of capital for federal income tax purposes). The 7.0% per year cumulative, noncompounded return is not based on the return provided to any individual stockholder. Accordingly, it is not necessary for each of the stockholders to have received any minimum return in order for the Advisor to participate in the Company’s net cash flows. In fact, if the Advisor is entitled to participate in the Company’s net cash flows, the returns of the stockholders will differ, and some may be less than a 7.0% per year cumulative, noncompounded return. This fee is payable only if we are not listed on an exchange. On April 4, 2018, the Company’s stockholders approved the acceleration of the payment of such incentive compensation, subject to certain conditions. Such accelerated payment would require approval by a special committee of the Company’s board of directors in connection with the anticipated conversion of the Company into a net asset value REIT. The Advisor estimated the fair value of this liability to be as much as $43 million as of March 31, 2019 , based on a hypothetical liquidation of the assets and liabilities at their estimated fair values, after considering the impact of any potential closing costs and fees related to the disposition of real estate properties. The fair value of the Incentive Fee liability as of March 31, 2019 is based on the estimated fair values of the Company’s assets and liabilities as of that date and changes to the fair values of assets and liabilities could have a material impact to the Incentive Fee calculation. The Incentive Fee is not currently payable to the Advisor, as it remains subject to further approval by the special committee and the Company’s conversion to a perpetual-life NAV REIT, and there is no guarantee that it will ever be payable.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Probable Real Estate Acquisition Georgia 400 Center On May 1, 2019 , the Company, through an indirect wholly owned subsidiary (the “Buyer”), entered into a purchase and sale agreement to purchase an office property consisting of three buildings containing an aggregate of 416,463 rentable square feet located on an aggregate of 24.4 acres of land in Alpharetta, Georgia (“Georgia 400 Center”). On April 12, 2019 , the Advisor entered into a purchase and sale agreement to purchase Georgia 400 Center and on May 1 , 2019, the Advisor subsequently assigned the purchase and sale agreement, as amended, to the Buyer for $1.0 million , which is the amount of the initial deposit paid by the Advisor. The seller is not affiliated with the Company or the Advisor. Pursuant to the purchase and 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 $3.0 million of earnest money. The contractual purchase price of Georgia 400 Center is $91.0 million plus closing costs. Georgia 400 Center was built between 1998 and 2001 and is currently 85% leased to 31 tenants. Distribution Declared On May 13, 2019 , the Company’s board of directors authorized a distribution in the amount of $0.00860000 per share of common stock to stockholders of record as of the close of business on June 14, 2019 . The Company expects to pay this distribution on or about June 19, 2019 .

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2019
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 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, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 .
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.
Redeemable Common Stock	The Company limits the dollar value of shares that may be redeemed under the share redemption program. During the three months ended March 31, 2019 , the Company had redeemed $2.5 million of common stock under the share redemption program. The Company processed all redemption requests received in good order and eligible for redemption through the March 2019 redemption date, except for 3,294,070 shares totaling $31.0 million due to the limitations under the share redemption program. The Company recorded $7.7 million and $10.0 million of redeemable common stock payable on the Company’s balance sheet as of March 31, 2019 and December 31, 2018 , respectively, related to unfulfilled redemption requests received in good order under the share redemption program. Based on the eleventh amended and restated share redemption program, the Company has $7.5 million available for redemptions in the remainder of 2019 , including shares that are redeemed in connection with a stockholders’ death, “qualifying disability” or “determination of incompetence,” subject to the limitations under the share redemption program.
Reclassifications	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three months ended March 31, 2018 , the Company reclassified $2.2 million of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes.
Revenue Recognition - Operating Leases	Real Estate On January 1, 2019 , the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019 . The Company’s comparative periods presented in the financial statements will continue to be reported under the lease accounting standards of Topic 840. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations beginning January 1, 2019 . In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations beginning January 1, 2019 . The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units under operating leases with terms generally of one year or less. Generally, credit investigations will be performed for prospective residents and security deposits will be obtained. The Company recognizes rental revenue, net of concessions, on a straight-line basis over the term of the lease, when collectibility is determined to be probable. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and tenant reimbursements and would recognize rental income only if cash is received. Beginning January 1, 2019, these changes to the Company’s collectibility assessment are reflected as an adjustment to rental income. Prior to January 1, 2019, bad debt expense related to uncollectible accounts receivable and deferred rent receivable was included in operating, maintenance, and management expense in the statement of operations. Any subsequent changes to the collectibility of the allowance for doubtful accounts as of December 31, 2018, which was recorded prior to the adoption of Topic 842, are recorded in operating, maintenance, and management expense in the statement of operations. Beginning January 1, 2019 , the Company, as a lessor, records costs to negotiate or arrange a lease that would have been incurred regardless of whether the lease was obtained, such as legal costs incurred to negotiate an operating lease, as an expense and classify such costs as operating, maintenance, and management expense on the Company’s consolidated statement of operations, as these costs are no longer capitalizable under the definition of initial direct costs under Topic 842.
Segments	The Company has invested in opportunistic real estate, non-performing loans and other real estate-related assets. In general, the Company intends to hold its investments in opportunistic real estate, non-performing loans and other real estate-related assets for capital appreciation. Traditional performance metrics of opportunistic real estate, non-performing loans 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 opportunistic real estate, non-performing loans and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from opportunistic real estate, non-performing loans 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, 2019 and 2018 .
Square Footage, Occupancy and Other Measures	Any references to square footage, occupancy or annualized base rent are unaudited and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board.
Recently Issued Accounting Standards Updates	In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“ASU No. 2016-13”). ASU No. 2016-13 affects entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments in ASU No. 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU No. 2016-13 also amends the impairment model for available-for-sale debt securities. An entity will recognize an allowance for credit losses on available-for-sale debt securities as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. ASU No. 2016-13 also requires new disclosures. For financial assets measured at amortized cost, an entity will be required to disclose information about how it developed its allowance for credit losses, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. For financing receivables and net investments in leases measured at amortized cost, an entity will be required to further disaggregate the information it currently discloses about the credit quality of these assets by year of the asset’s origination for as many as five annual periods. For available-for-sale debt securities, an entity will be required to provide a roll-forward of the allowance for credit losses and an aging analysis for securities that are past due. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is still evaluating the impact of adopting ASU No. 2016-13 on its financial statements. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement (“ASU No. 2018-13”). The primary focus of ASU 2018-13 is to improve the effectiveness of the disclosure requirements for fair value measurements. ASU No. 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for the timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and to disclose the range and weighted average of significant unobservable inputs used to develop recurring and nonrecurring Level 3 fair value measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop the Level 3 fair value measurement. In addition, public entities are required to provide information about the measurement uncertainty of recurring Level 3 fair value measurements from the use of significant unobservable inputs if those inputs reasonably could have been different at the reporting date. ASU No. 2018-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company is still evaluating the impact of adopting ASU No. 2018-13 on its financial statements, but does not expect the adoption of ASU No. 2018-13 to have a material impact on its financial statements.
Fair Value Measurement	Cash and cash equivalents, restricted cash, rent and other receivables and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. Real estate equity securities : The Company’s real estate equity securities are presented at fair value on the accompanying consolidated balance sheet. The fair values of the real estate equity securities were based on quoted prices in an active market on a major stock exchange. The Company classifies these inputs as Level 1 inputs. Real estate debt securities : The Company’s real estate debt securities are presented in the accompanying consolidated balance sheets at their amortized cost net of recorded loss reserves (if any) and not at fair value. The fair value of real estate debt securities was estimated using an internal valuation model that considers the expected cash flows for the debt securities, underlying collateral values (for collateral dependent securities) and estimated yield requirements of institutional investors for real estate debt securities with similar characteristics, including remaining term, 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, 2019 for the fair value of its bonds issued in Israel. The Company classifies this input as a Level 1 input. Derivative instruments : The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The fair value of interest rate caps (floors) are determined using the market standard methodology of discounting the future expected cash payments (receipts) which would occur if variable interest rates rise above (below) the strike rate of the caps (floors). The variable interest rates used in the calculation of projected payments (receipts) on the cap (floor) are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. The fair value of foreign currency option and collar is based on a Black-Scholes model tailored for currency derivatives.

REAL ESTATE HELD FOR INVESTME_2

REAL ESTATE HELD FOR INVESTMENT (Tables)	3 Months Ended
	Mar. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s real estate held for investment as of March 31, 2019 and December 31, 2018 , respectively (in thousands): March 31, 2019 December 31, 2018 Land $ 150,315 $ 148,880 Buildings and improvements 524,067 515,705 Tenant origination and absorption costs 31,005 31,584 Total real estate, cost 705,387 696,169 Accumulated depreciation and amortization (52,902 ) (46,301 ) Total real estate, net $ 652,485 $ 649,868 The following table provides summary information regarding the Company’s real estate held for investment as of March 31, 2019 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building Tenant Origination and Absorption Total Real Estate, at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office $ 1,037 $ 10,934 $ — $ 11,971 $ (2,982 ) $ 8,989 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 18,710 — 19,520 (4,631 ) 14,889 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,145 — 2,706 (792 ) 1,914 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,688 114 4,504 (1,273 ) 3,231 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0 % Total Richardson Portfolio 6,244 35,477 114 41,835 (9,678 ) 32,157 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 31,718 — — 31,718 — 31,718 100.0% (1) Burbank Collection 12/12/2012 Burbank CA Retail 4,175 12,322 302 16,799 (2,663 ) 14,136 90.0 % Park Centre 03/28/2013 Austin TX Office 3,251 30,160 — 33,411 (4,947 ) 28,464 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 38,723 — 47,015 (6,936 ) 40,079 100.0 % Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 26,154 — — 26,154 — 26,154 100.0% (1) Richardson Land II 09/04/2014 Richardson TX Undeveloped Land 3,418 — — 3,418 — 3,418 90.0 % Crown Pointe 02/14/2017 Dunwoody GA Office 22,590 65,806 5,085 93,481 (8,569 ) 84,912 100.0 % 125 John Carpenter 09/15/2017 Irving TX Office 2,755 77,051 8,723 88,529 (6,817 ) 81,712 100.0 % The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 76,599 4,271 91,257 (3,885 ) 87,372 100.0 % City Tower 03/06/2018 Orange CA Office 13,930 132,862 7,937 154,729 (7,257 ) 147,472 100.0 % Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 55,067 4,573 77,041 (2,150 ) 74,891 100.0 % $ 150,315 $ 524,067 $ 31,005 $ 705,387 $ (52,902 ) $ 652,485 _____________________ (1) The Company owns 100% of the common members’ equity of Park Highlands and Park Highlands II. On September 7, 2016 and January 8, 2019 , a subsidiary of the Company that owns a portion of Park Highlands and Park Highlands II, sold 820 units of 10% Class A non-voting preferred membership units for $0.8 million and 1,927 units of 10% Class A2 non-voting preferred membership units for $1.9 million , respectively, to accredited investors. The amount of the Class A and A2 non-voting preferred membership units raised, net of offering costs, is included in other liabilities on the accompanying consolidated balance sheets. (2) This property was formerly known as Marquette Plaza and was re-named The Marq in connection with the Company’s re-branding strategy for this property. 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 Health Care and Social Services 17 $ 7,397 13.2 % Insurance 22 6,086 10.8 % $ 13,483 24.0 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of March 31, 2019 , 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.
Schedule of Future Minimum Rental Income for Company's Properties	As of March 31, 2019 , 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, 2019 through December 31, 2019 $ 40,401 2020 53,226 2021 48,885 2022 42,233 2023 36,847 Thereafter 114,555 $ 336,147

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 and December 31, 2018 , 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, 2019 December 31, 2018 March 31, 2019 December 31, 2018 March 31, 2019 December 31, 2018 Cost $ 31,005 $ 31,584 $ 3,714 $ 3,714 $ (6,519 ) $ (6,653 ) Accumulated Amortization (8,446 ) (7,421 ) (438 ) (337 ) 1,867 1,648 Net Amount $ 22,559 $ 24,163 $ 3,276 $ 3,377 $ (4,652 ) $ (5,005 )
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, 2019 and 2018 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended March 31, For the Three Months Ended March 31, For the Three Months Ended March 31, 2019 2018 2019 2018 2019 2018 Amortization $ (1,604 ) $ (1,537 ) $ (101 ) $ (44 ) $ 353 $ 270

REAL ESTATE EQUITY SECURITIES (

REAL ESTATE EQUITY SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Real Estate Equity Securities	The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of March 31, 2019 and December 31, 2018 (dollars in thousands): March 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT 95,160 $ 1,144 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 39,886 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 19,943 2,772,529 17,273 59,848,241 $ 60,973 61,533,775 $ 73,876
Gain (Loss) on Investments	The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the three months ended March 31, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 11,165 $ (16,011 ) Less net gain recognized during the period on real estate equity securities sold during the period (3,397 ) — Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at the end of the period $ 7,768 $ (16,011 )

REAL ESTATE DEBT SECURITIES (Ta

REAL ESTATE DEBT SECURITIES (Tables)	3 Months Ended
	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Activity of Real Estate Debt Securities	The information for real estate debt securities as of March 31, 2019 and December 31, 2018 is set forth below (in thousands): Debt Securities Name Dates Acquired Debt Securities Type Outstanding Principal Balance as of Book Value as of Book Value as of Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units (4) 10/28/2016 / 03/30/2017 / 05/12/2017 Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) $ — $ — $ 10,859 _____________________ (1) On March 20, 2019 , the Company, through an indirect wholly owned subsidiary, entered into a redemption agreement for the Battery Point Series B Preferred Units. The redemption agreement resulted in the redemption of 13,000 Series B Preferred Units with a per-unit price of $1,000 . The Company received $8.6 million , of which $0.9 million relates to accrued interest and an exit fee. In addition, the Company received 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 . The Series A-3 Preferred Units were classified as an equity investment without a readily determinable fair value (see note 12 “Investment in Unconsolidated Joint Ventures” for further information). The following summarizes the activity related to real estate debt securities for the three months ended March 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment of Series B Preferred Units (7,750 ) Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units (2,992 ) Receipt of deferred interest receivable (130 ) Deferred interest receivable 4 Accretion of commitment fee, net of closing costs 9 Real estate debt securities - March 31, 2019 $ —
Schedule of Interest Income from Real Estate Debt Securities	For the three months ended March 31, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended March 31, 2019 2018 Contractual interest income $ 356 $ 394 Interest accretion 4 96 Accretion of commitment fee, net of closing costs and acquisition fee 9 11 Interest income from real estate debt securities $ 369 $ 501

REAL ESTATE SALES (Tables)

REAL ESTATE SALES (Tables)	3 Months Ended
	Mar. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Real Estate Held-for-Sale	The following summary presents the major components of assets and liabilities related to real estate held for sale as of March 31, 2019 and December 31, 2018 (in thousands): March 31, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ — $ 34,793 Accumulated depreciation and amortization — (3,541 ) Real estate, net — 31,252 Other assets — 2,746 Total assets related to real estate held for sale $ — $ 33,998 Liabilities related to real estate held for sale Notes payable, net — 22,845 Total liabilities related to real estate held for sale $ — $ 22,845
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, 2019 and 2018 (in thousands): Three Months Ended March 31, 2019 2018 Revenues Rental income $ 121 $ 5,221 Total revenues $ 121 $ 5,221 Expenses Operating, maintenance, and management $ (83 ) $ 1,118 Real estate taxes and insurance (67 ) 447 Asset management fees to affiliate 76 462 Depreciation and amortization 15 2,623 Interest expense 35 1,497 Total expenses $ (24 ) $ 6,147

NOTES AND BOND PAYABLE (Tables)

NOTES AND BOND PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2019
Notes and Bonds Payable [Abstract]
Schedule of Long-term Debt Instruments	As of March 31, 2019 and December 31, 2018 , the Company’s notes and bonds payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of March 31, 2019 Book Value as of December 31, 2018 Contractual Interest Rate as of March 31, 2019 (1) Effective Interest Rate at March 31, 2019 (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.99% Interest Only (3) 11/01/2021 Park Centre Mortgage Loan 8,035 8,404 One-Month LIBOR + 2.25% 4.74% Principal & Interest 07/01/2019 Burbank Collection Mortgage Loan 10,656 10,716 One-Month LIBOR + 2.35% 4.85% Principal & Interest 09/30/2019 1180 Raymond Mortgage Loan 30,542 30,637 One-Month LIBOR + 2.25% 4.74% Principal & Interest 12/01/2019 1180 Raymond Bond Payable 6,230 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (4) — 23,710 (4) (4) (4) (4) KBS SOR (BVI) Holdings, Ltd. Series A Debentures (5) 213,630 259,516 4.25% 4.25% (5) 03/01/2023 Crown Pointe Mortgage Loan 51,171 51,171 One-Month LIBOR + 2.60% 5.09% Interest Only 02/13/2020 125 John Carpenter Mortgage Loan 53,204 53,204 One-Month LIBOR + 1.75% 4.24% Interest Only 10/01/2022 City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 4.04% Interest Only 03/05/2021 The Marq Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 4.04% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 4.09% Interest Only 06/08/2021 Total Notes and Bonds Payable principal outstanding 595,756 663,318 Net Premium/(Discount) on Notes and Bonds Payable (6) 862 198 Deferred financing costs, net (7,010 ) (8,044 ) Total Notes and Bonds Payable, net $ 589,608 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2019 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of March 31, 2019 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) Represents the payment type required under the loan as of March 31, 2019 . 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. (4) On January 11, 2019, in connection with the disposition of 424 Bedford, the buyer assumed the mortgage loan secured by 424 Bedford with an outstanding principal balance of $23.7 million at the time of the sale. (5) See “ – Israeli Bond Financing” below. (6) 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, 2019 (in thousands): April 1, 2019 through December 31, 2019 $ 49,383 2020 104,932 2021 275,773 2022 106,851 2023 53,662 Thereafter 5,155 $ 595,756

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Interest Rate Derivatives	The following table summarizes the notional amounts and other information related to the Company’s derivative instruments as of March 31, 2019 . The notional amount is an indication of the extent of the Company’s involvement in the instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): Derivative Instrument Effective Date Maturity Date Notional Value Reference Rate Interest rate cap 02/21/2017 02/13/2020 $ 46,875 One-month LIBOR at 3.00% Interest rate cap 04/02/2018 03/05/2021 $ 77,513 One-month LIBOR at 3.50% The following table summarizes the notional amount and other information related to the Company’s foreign currency collar as of March 31, 2019 and December 31, 2018 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (currency in thousands): March 31, 2019 December 31, 2018 Strike Price Trade Date Maturity Date Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Foreign currency collar 1 776,182 ILS — — 3.49 - 3.62 ILS - USD 02/27/2019 08/23/2019 Foreign currency collar — — 1 776,182 ILS 3.54 - 3.66 ILS - USD 08/20/2018 02/28/2019
Schedule of Derivative Instruments in Statement of Financial Position	The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of March 31, 2019 and December 31, 2018 (dollars in thousands): March 31, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Derivative instruments not designated as hedging instruments Interest rate caps Prepaid expenses and other assets 2 $ 4 2 $ 34 Foreign currency collar Other liabilities 1 $ (1,405 ) 1 $ (4,393 )

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 and December 31, 2018 , which carrying amounts do not approximate the fair values (in thousands): March 31, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate debt securities (1) $ — $ — $ — $ 13,000 $ 10,859 $ 10,859 Financial liabilities: Notes and bond payable $ 382,126 $ 380,029 $ 385,153 $ 403,802 $ 400,470 $ 407,449 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 213,630 $ 209,579 $ 213,301 $ 259,516 $ 255,002 $ 255,814 _____________________ (1) Carrying amount of real estate debt securities includes other-than-temporary impairment.
Fair Value, Assets Measured on Recurring Basis	As of March 31, 2019 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets for Identical Assets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Recurring Basis: Real estate equity securities $ 60,973 $ 60,973 $ — $ — Asset derivative - interest rate caps $ 4 $ — $ 4 $ — Liability derivative - foreign currency collar $ (1,405 ) $ — $ (1,405 ) $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2019
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, 2019 and 2018 , respectively, and any related amounts payable as of March 31, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, 2019 December 31, 2018 2019 2018 Expensed Asset management fees $ 1,891 $ 1,825 $ — $ — Reimbursable operating expenses (1) 89 83 82 29 Disposition fees (2) 394 — — — Capitalized Acquisition fees on real estate — 2,360 — — Acquisition fees on real estate equity securities — 148 — 7 $ 2,374 $ 4,416 $ 82 $ 36 _____________________ (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 $71,000 and $83,000 for the three months ended March 31, 2019 and 2018 , 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 _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	3 Months Ended
	Mar. 31, 2019
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): March 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 239,748 $ 235,613 Other assets 28,379 37,337 Total assets $ 268,127 $ 272,950 Liabilities and equity: Notes payable, net $ 276,215 $ 267,311 Other liabilities 9,616 7,485 Partners’ deficit (17,704 ) (1,846 ) Total liabilities and equity $ 268,127 $ 272,950 Three Months Ended March 31, 2019 2018 Revenues $ 8,259 $ 9,809 Expenses: Operating, maintenance, and management 2,171 2,466 Real estate taxes and insurance 1,706 1,635 Depreciation and amortization 2,665 4,219 Interest expense 4,608 4,117 Total expenses 11,150 12,437 Total other income 33 13 Net loss $ (2,858 ) $ (2,615 ) Company’s share of net loss (1) $ (1,715 ) $ (1,569 ) _____________________ (1) During the three months ended March 31, 2019 , the Company recorded a $0.3 million of net losses in equity in income of unconsolidated joint ventures and suspended the recording of the Company’s remaining share of net losses. Summarized financial information for the 353 Sacramento Joint Venture follows (in thousands): March 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 180,168 $ 180,852 Other assets 12,520 13,123 Total assets $ 192,688 $ 193,975 Liabilities and equity: Notes payable, net $ 108,810 $ 105,593 Other liabilities 6,719 10,863 Partners’ capital 77,159 77,519 Total liabilities and equity $ 192,688 $ 193,975 Three Months Ended March 31, 2019 2018 Revenues $ 4,157 $ 2,669 Expenses: Operating, maintenance, and management 831 878 Real estate taxes and insurance 700 612 Depreciation and amortization 1,567 1,450 Interest expense 1,419 1,239 Total expenses 4,517 4,179 Net loss (360 ) (1,510 ) Company’s equity in loss of unconsolidated joint venture $ (163 ) $ (798 ) As of March 31, 2019 and December 31, 2018 , the Company’s investments in unconsolidated joint ventures were composed of the following (dollars in thousands): Number of Properties at March 31, 2019 Investment Balance at Joint Venture Location Ownership % March 31, 2019 December 31, 2018 NIP Joint Venture 2 Various Less than 5.0% $ 1,476 $ 1,476 110 William Joint Venture 1 New York, New York 60.0% — 325 353 Sacramento Joint Venture 1 San Francisco, California 55.0% 42,905 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 2,992 — $ 47,373 $ 44,869

SUPPLEMENTAL CASH FLOW AND SI_2

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2019
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands): Three Months Ended March 31, 2019 2018 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $694 and $650 for the three months ended March 31, 2019 and 2018 , respectively $ 9,127 $ 8,460 Supplemental Disclosure of Significant Noncash Transactions: Accrued improvements to real estate 5,108 6,019 Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — Redeemable common stock payable 7,742 — Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 286 479 Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend — 150,299 Redemption of Series B Preferred Units in exchange for Series A-3 Preferred Units 2,992 —

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	Mar. 08, 2016USD ($)	Mar. 08, 2016ILS (₪)	Mar. 08, 2016ILS (₪)	Mar. 07, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Mar. 31, 2019USD ($)aportfoliopropertyinvestmentshares	Mar. 31, 2018USD ($)shares	Nov. 14, 2012USD ($)shares	Mar. 31, 2019USD ($)aportfoliopropertyinvestmentshares	Dec. 31, 2018USD ($)shares	Mar. 02, 2016ILS (₪)	Dec. 18, 2015shares	Oct. 23, 2012USD ($)shares	Dec. 29, 2011USD ($)shares	Jan. 08, 2009shares
Organizational Structure [Line Items]
Common stock, shares authorized (in shares)						1,000,000,000			1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)						66,584,729			66,584,729	66,822,861			55,249	220,994
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 | $						$ 286	$ 479	$ 561,700
Shares of common stock sold under dividend reinvestment plan, value | $									$ 75,700
Redemptions of common stock | $						2,539	$ 4,610		277,900
Common stock, value, issued | $						$ 666			$ 666	$ 668			$ 500	$ 2,000
Number of investments in unconsolidated joint venture | investment						4			4
Number of investments in equity securities | investment						3			3
Office Properties
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						6			6
Office Portfolio
Organizational Structure [Line Items]
Number of real estate properties consolidated | portfolio						1			1
Office Buildings, Portfolio
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						4			4
Undeveloped Land, Portfolio
Organizational Structure [Line Items]
Real estate area of undeveloped land | a						14			14
Retail Property, Portfolio
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						1			1
Apartment Property
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						1			1
Undeveloped Land
Organizational Structure [Line Items]
Real estate area of undeveloped land | a						1,000			1,000
Number of investments in real estate | investment						3			3
Series A Debentures | Bonds Payable
Organizational Structure [Line Items]
Maximum borrowing capacity (in shares) | ₪											₪ 1,000,000,000
Contractual interest rate, percentage											4.25%
Proceeds from issuance of debt	$ 249,200	₪ 970,200,000	₪ 970,200,000	₪ 127,700,000	₪ 842,500,000
Special Dividends
Organizational Structure [Line Items]
Common stock, shares issued (in shares)						25,976,746			25,976,746
Maximum | Series A Debentures | Bonds Payable
Organizational Structure [Line Items]
Contractual interest rate, percentage											4.25%
Common Stock
Organizational Structure [Line Items]
Shares registered in primary offering (in shares)															100,000,000
Shares registered for sale under dividend reinvestment plan (in shares)															40,000,000
Issuance of common stock (in shares)						28,784	41,681	56,584,976
Issuance of common stock | $						$ 1	$ 1
Shares of common stock sold under dividend reinvestment plan, (in shares)									6,772,410
Redemptions of common stock (in shares)						266,916	419,572		23,045,646
Redemptions of common stock | $						$ 3	$ 5
Common Stock | Minimum
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance (in shares)															250,000
Common Stock | Maximum
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance (in shares)															140,000,000
KBS Strategic Opportunity BVI
Organizational Structure [Line Items]
Common stock, shares authorized (in shares)												50,000
KBS Strategic Opportunity BVI | Operating Partnership
Organizational Structure [Line Items]
Common stock, shares issued (in shares)												10,000

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Common Stock and Reclassification) (Details) - USD ($) $ in Thousands	3 Months Ended		112 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Dec. 31, 2018
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock	$ 2,539	$ 4,610	$ 277,900
Other liabilities	19,176		19,176	$ 21,006
Remaining authorized repurchase amount	7,500		7,500
Accounting Standards Update 2016-02
Summary of Significant Accounting Policies [Line Items]
Tenant reimbursements		2,200
Unfulfilled Redemption Request
Summary of Significant Accounting Policies [Line Items]
Other liabilities	7,700		$ 7,700	$ 10,000
Common Stock
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock	$ 3	$ 5
Number of shares non-redeemable do to limitation (in shares)	3,294,070
Number of shares non-redeemable do to limitation, value	$ 31,000
Common Stock | Share Redemption Program
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock	$ 2,500

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Segments and Per Share Data) (Narrative) (Details)	3 Months Ended
	Mar. 31, 2019segment$ / sharesshares	Mar. 31, 2018$ / sharesshares
Accounting Policies [Abstract]
Number of reportable segments | segment	1
Potentially dilutive securities | shares	0	0
Distributions declared per common share (in dollars per share) | $ / shares	$ 0.0086	$ 0.015975

REAL ESTATE HELD FOR INVESTME_3

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details) ft² in Millions, $ in Millions	Mar. 31, 2019USD ($)aft²unitpropertyinvestment	Dec. 31, 2018USD ($)
Real Estate Properties [Line Items]
Rentable square feet | ft²	3
Percentage of portfolio occupied	74.00%
Park Highlands
Real Estate Properties [Line Items]
Contract liability | $	$ 3.1	$ 3.1
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties	6
Number of real estate properties consolidated	6
Undeveloped Land, Portfolio
Real Estate Properties [Line Items]
Real estate area of undeveloped land | a	14
Retail Property, Portfolio
Real Estate Properties [Line Items]
Number of real estate properties consolidated	1
Apartment Property
Real Estate Properties [Line Items]
Number of real estate properties consolidated	1
Apartment Building
Real Estate Properties [Line Items]
Rentable square feet | ft²	0.3
Percentage of portfolio occupied	94.00%
Number of units in real estate property | unit	317
Undeveloped Land
Real Estate Properties [Line Items]
Real estate area of undeveloped land | a	1,000
Number of investments in real estate | investment	3

REAL ESTATE HELD FOR INVESTME_4

REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) - USD ($) $ in Thousands	Jan. 08, 2019	Sep. 07, 2016	Mar. 31, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Total real estate, cost			$ 705,387	$ 696,169
Accumulated depreciation and amortization			(52,902)	(46,301)
Total real estate, net			652,485	649,868
Preferred Class A | Subsidiary of Common Parent
Real Estate Properties [Line Items]
Non-voting preferred membership units sold		820
Interest rate on Class A non-voting preferred membership units		10.00%
Proceeds from sale of units		$ 800
Preferred Class A-2 | Subsidiary of Common Parent
Real Estate Properties [Line Items]
Non-voting preferred membership units sold	1,927
Interest rate on Class A non-voting preferred membership units	10.00%
Proceeds from sale of units	$ 1,900
Richardson Portfolio
Real Estate Properties [Line Items]
Total real estate, cost			41,835
Accumulated depreciation and amortization			(9,678)
Total real estate, net			$ 32,157
Palisades Central I
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 11,971
Accumulated depreciation and amortization			(2,982)
Total real estate, net			$ 8,989
Ownership %			90.00%
Palisades Central II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 19,520
Accumulated depreciation and amortization			(4,631)
Total real estate, net			$ 14,889
Ownership %			90.00%
Greenway I
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 2,706
Accumulated depreciation and amortization			(792)
Total real estate, net			$ 1,914
Ownership %			90.00%
Greenway III
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 4,504
Accumulated depreciation and amortization			(1,273)
Total real estate, net			$ 3,231
Ownership %			90.00%
Undeveloped Land
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total real estate, cost			$ 3,134
Accumulated depreciation and amortization			0
Total real estate, net			$ 3,134
Ownership %			90.00%
Park Highlands
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 30, 2011
Total real estate, cost			$ 31,718
Accumulated depreciation and amortization			0
Total real estate, net			$ 31,718
Ownership %			100.00%
Burbank Collection
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 12, 2012
Total real estate, cost			$ 16,799
Accumulated depreciation and amortization			(2,663)
Total real estate, net			$ 14,136
Ownership %			90.00%
Park Centre
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 28, 2013
Total real estate, cost			$ 33,411
Accumulated depreciation and amortization			(4,947)
Total real estate, net			$ 28,464
Ownership %			100.00%
1180 Raymond
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Aug. 20, 2013
Total real estate, cost			$ 47,015
Accumulated depreciation and amortization			(6,936)
Total real estate, net			$ 40,079
Ownership %			100.00%
Park Highlands II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 10, 2013
Total real estate, cost			$ 26,154
Accumulated depreciation and amortization			0
Total real estate, net			$ 26,154
Ownership %			100.00%
Richardson Land II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Sep. 4, 2014
Total real estate, cost			$ 3,418
Accumulated depreciation and amortization			0
Total real estate, net			$ 3,418
Ownership %			90.00%
Crown Pointe
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Feb. 14, 2017
Total real estate, cost			$ 93,481
Accumulated depreciation and amortization			(8,569)
Total real estate, net			$ 84,912
Ownership %			100.00%
125 John Carpenter
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Sep. 15, 2017
Total real estate, cost			$ 88,529
Accumulated depreciation and amortization			(6,817)
Total real estate, net			$ 81,712
Ownership %			100.00%
The Marq
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 1, 2018
Total real estate, cost			$ 91,257
Accumulated depreciation and amortization			(3,885)
Total real estate, net			$ 87,372
Ownership %			100.00%
City Tower
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 6, 2018
Total real estate, cost			$ 154,729
Accumulated depreciation and amortization			(7,257)
Total real estate, net			$ 147,472
Ownership %			100.00%
Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jun. 8, 2018
Total real estate, cost			$ 77,041
Accumulated depreciation and amortization			(2,150)
Total real estate, net			$ 74,891
Ownership %			100.00%
Land
Real Estate Properties [Line Items]
Total real estate, cost			$ 150,315	148,880
Land | Richardson Portfolio
Real Estate Properties [Line Items]
Total real estate, cost			6,244
Land | Palisades Central I
Real Estate Properties [Line Items]
Total real estate, cost			1,037
Land | Palisades Central II
Real Estate Properties [Line Items]
Total real estate, cost			810
Land | Greenway I
Real Estate Properties [Line Items]
Total real estate, cost			561
Land | Greenway III
Real Estate Properties [Line Items]
Total real estate, cost			702
Land | Undeveloped Land
Real Estate Properties [Line Items]
Total real estate, cost			3,134
Land | Park Highlands
Real Estate Properties [Line Items]
Total real estate, cost			31,718
Land | Burbank Collection
Real Estate Properties [Line Items]
Total real estate, cost			4,175
Land | Park Centre
Real Estate Properties [Line Items]
Total real estate, cost			3,251
Land | 1180 Raymond
Real Estate Properties [Line Items]
Total real estate, cost			8,292
Land | Park Highlands II
Real Estate Properties [Line Items]
Total real estate, cost			26,154
Land | Richardson Land II
Real Estate Properties [Line Items]
Total real estate, cost			3,418
Land | Crown Pointe
Real Estate Properties [Line Items]
Total real estate, cost			22,590
Land | 125 John Carpenter
Real Estate Properties [Line Items]
Total real estate, cost			2,755
Land | The Marq
Real Estate Properties [Line Items]
Total real estate, cost			10,387
Land | City Tower
Real Estate Properties [Line Items]
Total real estate, cost			13,930
Land | Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Total real estate, cost			17,401
Buildings and improvements
Real Estate Properties [Line Items]
Total real estate, cost			524,067	515,705
Buildings and improvements | Richardson Portfolio
Real Estate Properties [Line Items]
Total real estate, cost			35,477
Buildings and improvements | Palisades Central I
Real Estate Properties [Line Items]
Total real estate, cost			10,934
Buildings and improvements | Palisades Central II
Real Estate Properties [Line Items]
Total real estate, cost			18,710
Buildings and improvements | Greenway I
Real Estate Properties [Line Items]
Total real estate, cost			2,145
Buildings and improvements | Greenway III
Real Estate Properties [Line Items]
Total real estate, cost			3,688
Buildings and improvements | Undeveloped Land
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and improvements | Park Highlands
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and improvements | Burbank Collection
Real Estate Properties [Line Items]
Total real estate, cost			12,322
Buildings and improvements | Park Centre
Real Estate Properties [Line Items]
Total real estate, cost			30,160
Buildings and improvements | 1180 Raymond
Real Estate Properties [Line Items]
Total real estate, cost			38,723
Buildings and improvements | Park Highlands II
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and improvements | Richardson Land II
Real Estate Properties [Line Items]
Total real estate, cost			0
Buildings and improvements | Crown Pointe
Real Estate Properties [Line Items]
Total real estate, cost			65,806
Buildings and improvements | 125 John Carpenter
Real Estate Properties [Line Items]
Total real estate, cost			77,051
Buildings and improvements | The Marq
Real Estate Properties [Line Items]
Total real estate, cost			76,599
Buildings and improvements | City Tower
Real Estate Properties [Line Items]
Total real estate, cost			132,862
Buildings and improvements | Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Total real estate, cost			55,067
Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total real estate, cost			31,005	$ 31,584
Tenant origination and absorption costs | Richardson Portfolio
Real Estate Properties [Line Items]
Total real estate, cost			114
Tenant origination and absorption costs | Palisades Central I
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Palisades Central II
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Greenway I
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Greenway III
Real Estate Properties [Line Items]
Total real estate, cost			114
Tenant origination and absorption costs | Undeveloped Land
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Park Highlands
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Burbank Collection
Real Estate Properties [Line Items]
Total real estate, cost			302
Tenant origination and absorption costs | Park Centre
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | 1180 Raymond
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Park Highlands II
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Richardson Land II
Real Estate Properties [Line Items]
Total real estate, cost			0
Tenant origination and absorption costs | Crown Pointe
Real Estate Properties [Line Items]
Total real estate, cost			5,085
Tenant origination and absorption costs | 125 John Carpenter
Real Estate Properties [Line Items]
Total real estate, cost			8,723
Tenant origination and absorption costs | The Marq
Real Estate Properties [Line Items]
Total real estate, cost			4,271
Tenant origination and absorption costs | City Tower
Real Estate Properties [Line Items]
Total real estate, cost			7,937
Tenant origination and absorption costs | Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Total real estate, cost			$ 4,573

REAL ESTATE HELD FOR INVESTME_5

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)tenant	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)
Operating Leased Assets [Line Items]
Recognition of deferred revenue, net of discontinued operations	$ 1,300	$ 700
Deferred rent receivables	11,100		$ 9,800
Incentive to lessee	$ 1,300		1,300
Number of tenants | tenant	250
Bad debt recovery	$ 0	(366)
Adjustment to Rental Income
Operating Leased Assets [Line Items]
Bad debt recovery	(200)	$ (400)
Operating, Maintenance and Management Expense
Operating Leased Assets [Line Items]
Bad debt recovery	100
Other liabilities
Operating Leased Assets [Line Items]
Security deposit liability	$ 3,600		$ 3,700
Maximum
Operating Leased Assets [Line Items]
Operating lease, term	13 years 2 months 12 days
Weighted Average
Operating Leased Assets [Line Items]
Operating lease, term	4 years 10 months 24 days
Apartment Building
Operating Leased Assets [Line Items]
Operating lease, term	1 year

REAL ESTATE HELD FOR INVESTME_6

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Real Estate [Abstract]
April 1, 2019 through December 31, 2019	$ 40,401
2020	53,226
2021	48,885
2022	42,233
2023	36,847
Thereafter	114,555
Future minimum rental income	$ 336,147

REAL ESTATE HELD FOR INVESTME_7

REAL ESTATE HELD FOR INVESTMENT (Highest Tenant Industry Concentrations- Greater than 10% of Annual Base Rent) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)tenant
Concentration Risk [Line Items]
Number of tenants | tenant	250
Annualized Base Rent | $	$ 13,483
Percentage of Annualized Base Rent	24.00%
Health Care and Social Services
Concentration Risk [Line Items]
Number of tenants | tenant	17
Annualized Base Rent | $	$ 7,397
Percentage of Annualized Base Rent	13.20%
Insurance
Concentration Risk [Line Items]
Number of tenants | tenant	22
Annualized Base Rent | $	$ 6,086
Percentage of Annualized Base Rent	10.80%

REAL ESTATE HELD FOR INVESTME_8

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details)	3 Months Ended
	Mar. 31, 2019
Concentration Risk [Line Items]
Concentration risk, percentage	24.00%
California | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	17.10%
Texas | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	15.40%

TENANT ORIGINATION AND ABSORP_3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination And Absorption Costs, Cost	$ 31,005		$ 31,584
Tenant Origination and Absorption Costs, Accumulated Amortization	(8,446)		(7,421)
Tenant Origination and Absorption Costs, Net Amount	22,559		24,163
Tenant Origination and Absorption Costs, Amortization	(1,604)	$ (1,537)
Above-Market Lease Assets, Cost	3,714		3,714
Above-Market Lease Assets, Accumulated Amortization	(438)		(337)
Above-Market Lease Assets, Net Amount	3,276		3,377
Above-Market Lease Assets, Amortization	(101)	(44)
Below-Market Lease Liabilities, Cost	(6,519)		(6,653)
Below-Market Lease Liabilities, Accumulated Amortization	1,867		1,648
Below-Market Lease Liabilities, Net Amount	(4,652)		$ (5,005)
Below-Market Lease Liabilities, Amortization	$ 353	$ 270

TENANT ORIGINATION AND ABSORP_4

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Tax abatement asset	$ 1,400		$ 1,600
Depreciation and amortization	7,681	$ 7,265
Real Estate Held-for-Sale
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Tax abatement asset			$ 2,700
Property Tax Abatement Intangible Asset
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Depreciation and amortization	$ 200	$ 200

REAL ESTATE EQUITY SECURITIES_2

REAL ESTATE EQUITY SECURITIES (Narrative) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)investmentshares	Mar. 31, 2018USD ($)
Schedule of Available-for-sale Securities [Line Items]
Number of investments in equity securities | investment	3
Dividend income from real estate equity securities	$ 1,776	$ 1,051
Whitestone REIT | Common Stock
Schedule of Available-for-sale Securities [Line Items]
Issuance of common stock (in shares) | shares	1,686,734
Issuance of common stock	$ 24,100

REAL ESTATE EQUITY SECURITIES_3

REAL ESTATE EQUITY SECURITIES (Shares Owned) (Details) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 60,973	$ 73,876
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	59,848,241	61,533,775
Whitestone REIT
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 1,144	$ 21,846
Whitestone REIT | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	95,160	1,781,894
Keppel-KBS US REIT
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 39,886	$ 34,757
Keppel-KBS US REIT | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	56,979,352	56,979,352
Franklin Street Properties Corp.
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 19,943	$ 17,273
Franklin Street Properties Corp. | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	2,773,729	2,772,529

REAL ESTATE EQUITY SECURITIES_4

REAL ESTATE EQUITY SECURITIES (Portion of Gain and Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
(Gain) loss on real estate equity securities	$ 11,165	$ (16,011)
Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period	(3,397)	0
Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at September 30, 2018	$ 7,768	$ (16,011)

REAL ESTATE DEBT SECURITIES (Sc

REAL ESTATE DEBT SECURITIES (Schedule of Investments in Debt Securities) (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 20, 2019	Mar. 31, 2019	Mar. 31, 2018	Mar. 31, 2019	Dec. 31, 2018
Investment [Line Items]
Outstanding Principal Balance		$ 0		$ 0	$ 13,000
Redemptions of common stock		2,539	$ 4,610	277,900
Point Trust LLC
Investment [Line Items]
Redemptions of common stock (in shares)	13,000
Redemptions of common stock (in dollars per shares)	$ 1,000
Redemptions of common stock	$ 8,600
Redemptions of common stock, accrued interest and exit fees	$ 900
Investment acquired (in shares)	210,000
Investment acquired (in dollars per shares)	$ 25
Point Trust LLC | Series B Preferred Units
Investment [Line Items]
Redemptions of common stock (in shares)	13,000
Redemptions of common stock (in dollars per shares)	$ 1,000
Debt Securities
Investment [Line Items]
Outstanding Principal Balance		0		0
Book Value		0		0	10,859
Debt Securities | Point Trust LLC | Series B Preferred Units
Investment [Line Items]
Outstanding Principal Balance		0		0
Book Value		$ 0		$ 0	$ 10,859

REAL ESTATE DEBT SECURITIES (_2

REAL ESTATE DEBT SECURITIES (Schedule of Activity of Real Estate Securities) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Held-to-maturity Securities [Roll Forward]
Real estate debt securities - December 31, 2018	$ 13,000
Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units	(2,992)	$ 0
Real estate debt securities - March 31, 2019	0
Debt Securities
Held-to-maturity Securities [Roll Forward]
Real estate debt securities - December 31, 2018	10,859
Principal repayment of Series B Preferred Units	(7,750)
Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units	(2,992)
Receipt of deferred interest receivable	(130)
Deferred interest receivable	4
Accretion of commitment fee, net of closing costs	9
Real estate debt securities - March 31, 2019	$ 0

REAL ESTATE DEBT SECURITIES (In

REAL ESTATE DEBT SECURITIES (Interest Income) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investment [Line Items]
Contractual interest income	$ 690	$ 930
Debt Securities
Investment [Line Items]
Contractual interest income	356	394
Interest accretion	4	96
Accretion of commitment fee, net of closing costs and acquisition fee	9	11
Interest income from real estate debt securities	$ 369	$ 501

REAL ESTATE SALES (Details)

REAL ESTATE SALES (Details) $ in Thousands	Jan. 11, 2019USD ($)	Mar. 31, 2019USD ($)property	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)property	Jan. 31, 2014unitproperty
Real Estate Properties [Line Items]
Real estate held for sale, net		$ 0		$ 31,252
Accumulated depreciation and amortization		52,902		$ 46,301
Gain on sale of real estate		7,575	$ 624
424 Bedford
Real Estate Properties [Line Items]
Sale price	$ 43,800
Real estate held for sale, net	34,000
Accumulated depreciation and amortization	5,300
Gain on sale of real estate	$ 7,600
424 Bedford
Real Estate Properties [Line Items]
Number of real estate units | unit					66
Office Properties | 424 Bedford
Real Estate Properties [Line Items]
Number of real estate properties acquired | property					1
Disposed of by Sale
Revenues
Rental income		121	5,221
Total revenues		121	5,221
Expenses
Operating, maintenance, and management		(83)	1,118
Real estate taxes and insurance		(67)	447
Asset management fees to affiliate		76	462
Depreciation and amortization		15	2,623
Interest expense		35	1,497
Total expenses		$ (24)	$ 6,147
Disposed of by Sale | Office Properties
Real Estate Properties [Line Items]
Number of real estate properties disposed | property		1		1
Disposed of by Sale | Office/Flex/Industrial Portfolio
Real Estate Properties [Line Items]
Number of real estate properties disposed | property				1
Disposed of by Sale | Office/Flex/Industrial Buildings
Real Estate Properties [Line Items]
Number of real estate properties disposed | property				21
Held-for-sale
Assets and Liabilities
Real estate, cost		$ 0		$ 34,793
Accumulated depreciation and amortization		0		(3,541)
Real estate, net		0		31,252
Other assets		0		2,746
Total assets related to real estate held for sale		0		33,998
Notes payable, net		0		22,845
Total liabilities related to real estate held for sale		$ 0		$ 22,845

NOTES AND BOND PAYABLE (Schedul

NOTES AND BOND PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	Mar. 06, 2018	Mar. 31, 2019	Jan. 11, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Long-term Debt, Gross		$ 595,756
Total Notes and Bonds Payable principal outstanding		595,756		$ 663,318
Net Premium/(Discount) on Notes and Bonds Payable		862		198
Deferred financing costs, net		(7,010)		(8,044)
Total notes and bonds payable, net		589,608		655,472
424 Bedford
Debt Instrument [Line Items]
Long-term Debt, Gross			$ 23,700
Mortgages | Richardson Portfolio Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 36,000		36,000
Interest rate, effective percentage		4.99%
Mortgages | Richardson Portfolio Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.50%
Mortgages | Park Centre Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 8,035		8,404
Interest rate, effective percentage		4.74%
Mortgages | Park Centre Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Mortgages | Burbank Collection Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 10,656		10,716
Interest rate, effective percentage		4.85%
Mortgages | Burbank Collection Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.35%
Mortgages | 1180 Raymond Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 30,542		30,637
Interest rate, effective percentage		4.74%
Mortgages | 1180 Raymond Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.25%
Mortgages | 1180 Raymond Bond Payable
Debt Instrument [Line Items]
Bonds payable		$ 6,230		6,280
Contractual interest rate, percentage		6.50%
Interest rate, effective percentage		6.50%
Mortgages | 424 Bedford Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 0		23,710
Mortgages | KBS SOR (BVI) Holdings, Ltd. Series A Debentures
Debt Instrument [Line Items]
Notes payable, net		$ 213,630		259,516
Contractual interest rate, percentage		4.25%
Interest rate, effective percentage		4.25%
Mortgages | Crown Pointe Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 51,171		51,171
Interest rate, effective percentage		5.09%
Mortgages | Crown Pointe Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.60%
Mortgages | 125 John Carpenter Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 53,204		53,204
Interest rate, effective percentage		4.24%
Mortgages | 125 John Carpenter Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Mortgages | City Tower Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 89,000		89,000
Interest rate, effective percentage		4.04%
Mortgages | City Tower Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%	1.55%
Mortgages | The Marq Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 53,408		50,800
Interest rate, effective percentage		4.04%
Mortgages | The Marq Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.55%
Mortgages | Eight & Nine Corporate Centre Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net		$ 43,880		$ 43,880
Interest rate, effective percentage		4.09%
Mortgages | Eight & Nine Corporate Centre Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.60%

NOTES AND BOND PAYABLE (Narrati

NOTES AND BOND PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Interest expense	$ 7,168	$ 6,591
Amortization of deferred financing costs	869	789
Interest capitalized	694	650
Interest payable	2,300		$ 5,200
Undeveloped Land
Debt Instrument [Line Items]
Interest capitalized	$ 700	$ 600

NOTES AND BOND PAYABLE (Sched_2

NOTES AND BOND PAYABLE (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Mar. 31, 2019USD ($)
Notes and Bonds Payable [Abstract]
April 1, 2019 through December 31, 2019	$ 49,383
2020	104,932
2021	275,773
2022	106,851
2023	53,662
Thereafter	5,155
Notes and bond payable outstanding	$ 595,756

NOTES AND BOND PAYABLE (Recent

NOTES AND BOND PAYABLE (Recent Bond Financing) (Details) $ in Millions	Mar. 01, 2019USD ($)	Mar. 01, 2019ILS (₪)	Mar. 08, 2016USD ($)	Mar. 08, 2016ILS (₪)	Mar. 08, 2016ILS (₪)	Mar. 07, 2016ILS (₪)	Mar. 02, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Mar. 31, 2019ILS (₪)instrument	Dec. 31, 2018ILS (₪)instrument
Foreign currency collar | Derivative instruments not designated as hedging instruments
Debt Instrument [Line Items]
Number of Instruments | instrument									1	0
Notional amount									₪ 776,182,000	₪ 0
Bonds Payable | Series A Debentures
Debt Instrument [Line Items]
Maximum borrowing capacity (in shares)							₪ 1,000,000,000
Interest rate during period			4.25%	4.25%
Proceeds from issuance of debt			$ 249.2	₪ 970,200,000	₪ 970,200,000	₪ 127,700,000		₪ 842,500,000
Periodic payment	$ 53.6	₪ 194,000,000
Bonds Payable | Series A Debentures | Maximum
Debt Instrument [Line Items]
Interest rate during period							4.25%

DERIVATIVE INSTRUMENTS (Details

DERIVATIVE INSTRUMENTS (Details)	3 Months Ended
	Mar. 31, 2019USD ($)instrument	Mar. 31, 2018USD ($)	Mar. 31, 2019ILS (₪)instrument	Mar. 07, 2019USD ($)	Dec. 31, 2018USD ($)instrument	Dec. 31, 2018ILS (₪)instrument	Aug. 20, 2018
Foreign currency collar
Derivative [Line Items]
Gain (loss) recognized on derivatives	$ 3,000,000	$ (2,000,000)
Foreign currency transaction gain (loss)	(5,800,000)	1,000,000
Interest Rate Cap
Derivative [Line Items]
Notional Amount				$ 348,500,000
Unrealized gain (loss) on derivatives	$ (30,000)	$ 31,000
Interest Rate Cap | One-month LIBOR
Derivative [Line Items]
Reference Rate				3.75%
Derivative instruments not designated as hedging instruments | Foreign currency collar
Derivative [Line Items]
Number of Instruments | instrument	1		1		0	0
Notional Amount | ₪			₪ 776,182,000			₪ 0
Derivative instruments not designated as hedging instruments | Foreign currency collar | Minimum
Derivative [Line Items]
Strike Price							3.49
Derivative instruments not designated as hedging instruments | Foreign currency collar | Maximum
Derivative [Line Items]
Strike Price							3.62
Derivative instruments not designated as hedging instruments | Foreign currency collar
Derivative [Line Items]
Number of Instruments | instrument	0		0		1	1
Notional Amount | ₪			₪ 0			₪ 776,182,000
Derivative instruments not designated as hedging instruments | Foreign currency collar | Other liabilities
Derivative [Line Items]
Number of Instruments | instrument	1		1		1	1
Derivative Liability	$ (1,405,000)				$ (4,393,000)
Derivative instruments not designated as hedging instruments | Foreign currency collar | Minimum
Derivative [Line Items]
Strike Price							3.54
Derivative instruments not designated as hedging instruments | Foreign currency collar | Maximum
Derivative [Line Items]
Strike Price							3.66
Derivative instruments not designated as hedging instruments | Interest Rate Cap
Derivative [Line Items]
Number of Instruments | instrument	2		2
Notional Amount	$ 46,875,000
Maturity Date	Feb. 13, 2020
Derivative instruments not designated as hedging instruments | Interest Rate Cap | Prepaid expenses and other assets
Derivative [Line Items]
Number of Instruments | instrument	2		2		2	2
Derivative Asset	$ 4,000				$ 34,000
Derivative instruments not designated as hedging instruments | Interest Rate Cap | One-month LIBOR
Derivative [Line Items]
Reference Rate	3.00%		3.00%
Derivative instruments not designated as hedging instruments | Interest Rate Cap, Effective Date 4/2/18
Derivative [Line Items]
Notional Amount	$ 77,513,000
Maturity Date	Mar. 5, 2021
Derivative instruments not designated as hedging instruments | Interest Rate Cap, Effective Date 4/2/18 | One-month LIBOR
Derivative [Line Items]
Reference Rate	3.50%		3.50%

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Face Value	$ 0	$ 13,000,000
Notes and bond payable, Face Value	382,126,000	403,802,000
Series A Debentures | KBS SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Face Value	213,630,000	259,516,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Value	0	10,859,000
Notes and bond payable, Value	380,029,000	400,470,000
Carrying Amount | Series A Debentures | KBS SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Value	209,579,000	255,002,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Value	0	10,859,000
Notes and bond payable, Value	385,153,000	407,449,000
Fair Value | Series A Debentures | KBS SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes and bond payable, Value	$ 213,301,000	$ 255,814,000

FAIR VALUE DISCLOSURES (Sched_2

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) - Recurring Basis $ in Thousands	Mar. 31, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	$ 60,973
Liability derivative - foreign currency collar	(1,405)
Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative - interest rate caps	4
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	60,973
Liability derivative - foreign currency collar	0
Quoted Prices in Active Markets for Identical Assets (Level 1) | Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative - interest rate caps	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	0
Liability derivative - foreign currency collar	(1,405)
Significant Other Observable Inputs (Level 2) | Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative - interest rate caps	4
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	0
Liability derivative - foreign currency collar	0
Significant Unobservable Inputs (Level 3) | Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative - interest rate caps	$ 0

RELATED PARTY TRANSACTIONS (Cos

RELATED PARTY TRANSACTIONS (Costs) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Payable as of	$ 82		$ 36
Payment for administrative fees	71	$ 83
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Capitalized	2,374	4,416
Payable as of	82		36
Advisor and Dealer Manager | Asset management fees
Related Party Transaction [Line Items]
Expensed	1,891	1,825
Payable as of	0		0
Advisor and Dealer Manager | Reimbursable operating expenses
Related Party Transaction [Line Items]
Expensed	89	83
Payable as of	82		29
Advisor and Dealer Manager | Disposition fees
Related Party Transaction [Line Items]
Expensed	394	0
Payable as of	0		0
Advisor and Dealer Manager | Acquisition fees on real estate
Related Party Transaction [Line Items]
Capitalized	0	2,360
Payable as of	0		0
Advisor and Dealer Manager | Acquisition fees on real estate equity securities
Related Party Transaction [Line Items]
Capitalized	0	$ 148
Payable as of	$ 0		$ 7

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details)	Mar. 19, 2019	Nov. 30, 2018property	Nov. 08, 2017property	Mar. 20, 2019$ / sharesshares
Point Trust LLC
Related Party Transaction [Line Items]
Investment acquired (in shares) | shares				210,000
Investment acquired (in dollars per shares) | $ / shares				$ 25
SREIT
Related Party Transaction [Line Items]
Number of real estate properties disposed			11
SREIT | Office/Flex/Industrial Buildings
Related Party Transaction [Line Items]
Number of real estate properties disposed		21
Battery Point Holdings | DayMark
Related Party Transaction [Line Items]
Noncontrolling interest	40.00%
DayMark Service Entities
Related Party Transaction [Line Items]
Property management fee, percent of gross asset value fee	1.50%
Annual property management fee, percent of tenants rent received fee	8.00%
Acquisition fee, percent of purchase price fee	1.00%
Commission fee from sales as broker	1.00%

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	Mar. 31, 2019USD ($)property	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 47,373	$ 44,869
NIP Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	2
Investment Balance	$ 1,476	1,476
NIP Joint Venture | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership %	5.00%
110 William Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	1
Ownership %	60.00%
Investment Balance	$ 0	325
353 Sacramento Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	1
Ownership %	55.00%
Investment Balance	$ 42,905	43,068
Battery Point Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 2,992	$ 0

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments - Narrative) (Details)	May 18, 2012USD ($)	Mar. 31, 2019USD ($)ft²	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	May 02, 2014ft²
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated joint venture		$ 0	$ 53,000
Rentable square feet | ft²		3,000,000
Investments in unconsolidated joint ventures		$ 47,373,000		$ 44,869,000
Equity in (income) loss of unconsolidated joint ventures, net		(7,312,000)	2,378,000
110 William JV Partner
Schedule of Equity Method Investments [Line Items]
Income from unconsolidated joint venture		5,200,000
NIP Joint Venture
Schedule of Equity Method Investments [Line Items]
Contributions to joint venture	$ 8,000,000
Distributions		0	400,000
Income from unconsolidated joint venture			100,000
Return of capital			300,000
Investments in unconsolidated joint ventures		$ 1,476,000		1,476,000
NIP Joint Venture | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage		5.00%
110 William Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage		60.00%
Distributions			$ 0
Income from unconsolidated joint venture		$ 7,800,000
Rentable square feet | ft²					928,157
Area of land | ft²					0.8
Investments in unconsolidated joint ventures		0		325,000
Capitalized acquisition costs				1,400,000
Equity in (income) loss of unconsolidated joint ventures, net				$ 1,500,000
Equity in income of unconsolidated joint venture		7,500,000
Gain from equity method investments		$ 300,000
110 William Joint Venture | 110 William JV Partner
Schedule of Equity Method Investments [Line Items]
Ownership percentage					60.00%
Noncontrolling interest					40.00%

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summarized Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	$ 652,485		$ 649,868
Total assets	944,482		1,004,989
Other liabilities	19,176		21,006
Total liabilities and equity	944,482		1,004,989
Income Statement [Abstract]
Revenues	21,911	$ 19,636
Operating, maintenance, and management	6,271	5,487
Real estate taxes and insurance	2,977	2,339
Depreciation and amortization	7,681	7,265
Interest expense	7,168	6,591
Total expenses	30,337	26,556
Net income (loss) attributable to common stockholders	16,781	(23,681)
110 William Joint Venture
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	239,748		235,613
Other assets	28,379		37,337
Total assets	268,127		272,950
Notes payable, net	276,215		267,311
Other liabilities	9,616		7,485
Partners’ deficit	(17,704)		(1,846)
Total liabilities and equity	268,127		272,950
Income Statement [Abstract]
Revenues	8,259	9,809
Operating, maintenance, and management	2,171	2,466
Real estate taxes and insurance	1,706	1,635
Depreciation and amortization	2,665	4,219
Interest expense	4,608	4,117
Total expenses	11,150	12,437
Total other income	33	13
Net income (loss) attributable to common stockholders	(2,858)	(2,615)
Company’s share of net loss	(1,715)	(1,569)
Company’s equity in income (loss) of unconsolidated joint venture	7,800
Gain from equity method investments	300
353 Sacramento Joint Venture
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	180,168		180,852
Other assets	12,520		13,123
Total assets	192,688		193,975
Notes payable, net	108,810		105,593
Other liabilities	6,719		10,863
Partners’ deficit	77,159		77,519
Total liabilities and equity	192,688		$ 193,975
Income Statement [Abstract]
Revenues	4,157	2,669
Operating, maintenance, and management	831	878
Real estate taxes and insurance	700	612
Depreciation and amortization	1,567	1,450
Interest expense	1,419	1,239
Total expenses	4,517	4,179
Net income (loss) attributable to common stockholders	(360)	(1,510)
Company’s equity in income (loss) of unconsolidated joint venture	$ (163)	$ (798)

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (110 William Street Refinancing) (Details)	Mar. 07, 2019USD ($)extension	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Face amount		$ 382,126,000	$ 403,802,000
Interest Rate Cap
Schedule of Equity Method Investments [Line Items]
Notional amount	$ 348,500,000
One-month LIBOR | Interest Rate Cap
Schedule of Equity Method Investments [Line Items]
Reference rate	3.75%
110 William Joint Venture | 110 William Street Mortgage Loan
Schedule of Equity Method Investments [Line Items]
Extinguishment of debt	$ 268,000,000
Face amount	$ 261,400,000
Number of extensions | extension	3
Extension period	1 year
Contractual interest rate, percentage	3.50%
110 William Joint Venture | Mezzanine Loan
Schedule of Equity Method Investments [Line Items]
Face amount	$ 87,100,000
Contractual interest rate, percentage	6.90%
Amount outstanding	$ 70,300,000
110 William Joint Venture | Senior Mortgage Loan
Schedule of Equity Method Investments [Line Items]
Extinguishment of debt	215,500,000
Amount outstanding	210,800,000
Unused borrowing capacity, amount	4,700,000
110 William Joint Venture | Building Loan
Schedule of Equity Method Investments [Line Items]
Extinguishment of debt	45,900,000
Unused borrowing capacity, amount	45,900,000
110 William Joint Venture | 110 William Street Mezzanine Loan
Schedule of Equity Method Investments [Line Items]
Unused borrowing capacity, amount	$ 16,800,000
110 William Joint Venture | One-month LIBOR | 110 William Street Mortgage Loan
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	1.50%
110 William Joint Venture | One-month LIBOR | Mezzanine Loan
Schedule of Equity Method Investments [Line Items]
Basis spread on variable rate	4.90%

INVESTMENT IN UNCONSOLIDATED _7

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investment in 353 Sacramento Joint Venture) (Details)	3 Months Ended
	Mar. 31, 2019USD ($)	Mar. 31, 2018USD ($)	Jul. 06, 2017aft²
Migdal Members
Schedule of Equity Method Investments [Line Items]
Ownership percentage			45.00%
Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage			55.00%
353 Sacramento Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage	55.00%
Distributions | $	$ 0	$ 0
353 Sacramento Joint Venture | Office Properties | Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Ownership percentage			45.00%
Net rentable area | ft²			284,751
Area of land | a			0.35

INVESTMENT IN UNCONSOLIDATED _8

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Battery Point Series A-3 Preferred Units) (Details) - USD ($) $ / shares in Units, $ in Millions	Mar. 20, 2019	Mar. 31, 2019
Series A-3 Preferred Units | Battery Point Holdings
Schedule of Equity Method Investments [Line Items]
Obligation to use percent of net proceeds for future equity capital raising	20.00%
Point Trust LLC
Schedule of Equity Method Investments [Line Items]
Redemptions of common stock (in shares)	13,000
Redemptions of common stock (in dollars per shares)	$ 1,000
Investment acquired (in shares)	210,000
Investment acquired (in dollars per shares)	$ 25
Point Trust LLC | Series B Preferred Units
Schedule of Equity Method Investments [Line Items]
Redemptions of common stock (in shares)	13,000
Redemptions of common stock (in dollars per shares)	$ 1,000
Aggregate principal balance	$ 13
Principal paydown	7.7
Point Trust LLC | Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investments	$ 5.3	$ 3
Dividends, annual rate	7.50%
Point Trust LLC | Series A-3 Preferred Units | Not Redeemed by February 28, 2020
Schedule of Equity Method Investments [Line Items]
Dividends, annual rate	10.00%
Point Trust LLC | Series A-3 Preferred Units | Not Redeemed by February 28, 2021
Schedule of Equity Method Investments [Line Items]
Dividends, annual rate	11.00%

SUPPLEMENTAL CASH FLOW AND SI_3

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $694 and $650 for the three months ended March 31, 2019 and 2018, respectively	$ 9,127	$ 8,460
Interest capitalized	694	650
Supplemental Disclosure of Significant Noncash Transactions:
Accrued improvements to real estate	5,108	6,019
Mortgage loan assumed by buyer in connection with sale of real estate	23,663	0
Redeemable common stock payable	7,742	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	286	479
Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend	0	150,299
Redemption of Series B Preferred Units in exchange for Series A-3 Preferred Units	$ 2,992	$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - KBS Capital Advisors LLC $ in Millions	Mar. 31, 2019USD ($)
Related Party Transaction [Line Items]
Noncompounded return on invested capital as percent per year, percent	7.00%
Percent of net cash flows to be received by related party, percent	15.00%
Distributions paid from operating cash flows, annual return, percent	7.00%
Incentive Compensation
Related Party Transaction [Line Items]
Liabilities at fair value	$ 43

SUBSEQUENT EVENTS (Probable Acq

SUBSEQUENT EVENTS (Probable Acquisition) (Details) $ in Millions	May 01, 2019USD ($)aft²tenantproperty	Mar. 31, 2019ft²tenant
Subsequent Event [Line Items]
Rentable square feet | ft²		3,000,000
Number of tenants | tenant		250
Plan | Subsequent Event | Georgia 400 Center | Office Properties
Subsequent Event [Line Items]
Number of properties under contract | property	1
Rentable square feet | ft²	416,463
Area of land | a	24.4
Transaction costs	$ 1
Earnest money deposit, amount that may be forfeited	3
Consideration transferred	$ 91
Percent of property leased	85.00%
Number of tenants | tenant	31
Plan | Subsequent Event | Georgia 400 Center | Office Property, Number of Buildings
Subsequent Event [Line Items]
Number of properties under contract | property	3

SUBSEQUENT EVENTS (Distribution

SUBSEQUENT EVENTS (Distribution Declared) (Details) - $ / shares	May 13, 2019	Mar. 31, 2019	Mar. 31, 2018
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)		$ 0.0086	$ 0.015975
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)	$ 0.00860000