Pacific Oak Strategic Opportunity REIT (PCOK) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 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	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		66,321,336
Entity Shell Company	false
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Current Reporting Status	Yes

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Assets
Real estate held for investment, net	$ 731,881	$ 635,567
Real estate held for sale, net	14,081	45,553
Real estate equity securities	65,267	73,876
Real estate debt securities, net	0	10,859
Total real estate and real estate-related investments, net	811,229	765,855
Cash and cash equivalents	110,166	152,385
Restricted cash	10,886	10,342
Investments in unconsolidated joint ventures	51,956	44,869
Rents and other receivables, net	15,874	12,095
Above-market leases, net	3,175	3,377
Prepaid expenses and other assets	13,501	12,736
Assets related to real estate held for sale, net	666	3,330
Total assets	1,017,453	1,004,989
Notes and bonds payable, net
Notes and bonds payable related to real estate held for investment, net	655,944	621,934
Note payable related to real estate held for sale, net	10,589	33,538
Total notes and bonds payable, net	666,533	655,472
Accounts payable and accrued liabilities	20,142	19,506
Due to affiliate	98	36
Below-market leases, net	4,980	4,947
Liabilities related to real estate held for sale, net	42	58
Other liabilities	18,043	21,006
Redeemable common stock payable	5,463	10,000
Total liabilities	715,301	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, 66,342,855 and 66,822,861 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	663	668
Additional paid-in capital	547,767	547,770
Cumulative distributions and net income	(247,603)	(256,984)
Total KBS Strategic Opportunity REIT, Inc. stockholders’ equity	300,827	291,454
Noncontrolling interests	1,325	2,510
Total equity	302,152	293,964
Total liabilities and equity	$ 1,017,453	$ 1,004,989

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 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)	66,342,855	66,822,861
Common stock, shares outstanding (in shares)	66,342,855	66,822,861

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Rental income	$ 19,837	$ 22,091	$ 38,210	$ 39,439
Other operating income	1,509	1,479	2,902	2,214
Interest income from real estate debt securities	0	511	369	1,012
Dividend income from real estate equity securities	343	1,209	2,119	2,260
Total revenues	21,689	25,290	43,600	44,925
Expenses:
Real estate taxes and insurance	3,301	3,435	6,279	5,773
General and administrative expenses	2,015	2,250	3,548	4,302
Foreign currency transaction loss (gain), net	2,474	(10,111)	5,290	(9,114)
Depreciation and amortization	8,357	9,042	16,037	16,307
Interest expense	7,249	7,819	14,417	14,410
Total expenses	32,193	22,223	62,530	48,779
Other income (loss):
Income from unconsolidated joint venture	0	131	0	185
Equity in (loss) income of unconsolidated joint ventures, net	(215)	(2,373)	7,096	(4,751)
Casualty-related loss	(506)	0	(506)	0
Other interest income	636	419	1,327	1,349
Gain (loss) on real estate equity securities	4,294	8,724	15,459	(7,287)
(Loss) gain on sale of real estate	(6)	25	7,569	649
Loss on extinguishment of debt	0	0	(856)	0
Total other income (loss), net	4,203	6,926	30,089	(9,855)
Net (loss) income	(6,301)	9,993	11,159	(13,709)
Net loss (income) attributable to noncontrolling interests	52	43	(627)	64
Net (loss) income attributable to common stockholders	$ (6,249)	$ 10,036	$ 10,532	$ (13,645)
Net (loss) income per common share, basic and diluted (in dollars per share)	$ (0.09)	$ 0.16	$ 0.16	$ (0.22)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	66,559,771	61,910,602	66,685,447	62,216,998
Operating, maintenance, and management
Expenses:
Expenses	$ 6,826	$ 7,571	$ 13,098	$ 13,058
Asset management fees to affiliate
Expenses:
Expenses	$ 1,971	$ 2,217	$ 3,861	$ 4,043

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 (loss) income	(13,709)	(13,645)			(13,645)		(64)
Issuance of common stock (in shares)			83,855
Issuance of common stock	964	964	$ 1	963
Stock distribution issued (in shares)			13,069,487
Stock distribution issued	150,299	150,299	$ 130	150,169
Transfers from redeemable common stock	9,969	9,969		9,969
Redemptions of common stock (in shares)			(10,524,499)
Redemptions of common stock	(115,071)	(115,071)	$ (105)	(114,966)
Distributions declared	(1,916)	(1,916)			(1,916)
Noncontrolling interests contributions	742	0					742
Balance (in shares) at Jun. 30, 2018			54,682,660
Balance at Jun. 30, 2018	294,733	292,085	$ 547	434,935	(143,397)	0	2,648
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
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	9,993	10,036			10,036		(43)
Issuance of common stock (in shares)			42,174
Issuance of common stock	485	485		485
Transfers from redeemable common stock	5,839	5,839		5,839
Redemptions of common stock (in shares)			(10,104,927)
Redemptions of common stock	(110,461)	(110,461)	$ (100)	(110,361)
Distributions declared	(882)	(882)			(882)
Noncontrolling interests contributions	734	0					734
Balance (in shares) at Jun. 30, 2018			54,682,660
Balance at Jun. 30, 2018	$ 294,733	292,085	$ 547	434,935	(143,397)	0	2,648
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 (loss) income	11,159	10,532			10,532		627
Issuance of common stock (in shares)			56,814
Issuance of common stock	564	564	$ 1	563
Transfers from redeemable common stock	4,537	4,537		4,537
Redemptions of common stock (in shares)			(536,820)
Redemptions of common stock	(5,107)	(5,107)	$ (6)	(5,101)
Distributions declared	(1,151)	(1,151)			(1,151)
Other offering costs	(2)	(2)		(2)
Noncontrolling interests contributions	12	0					12
Distributions to noncontrolling interests	$ (1,824)	0					(1,824)
Balance (in shares) at Jun. 30, 2019	66,342,855		66,342,855
Balance at Jun. 30, 2019	$ 302,152	300,827	$ 663	547,767	(247,603)	0	1,325
Balance (in shares) at Mar. 31, 2019			66,584,729
Balance at Mar. 31, 2019	309,122	307,660	$ 666	547,775	(240,781)	0	1,462
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(6,301)	(6,249)			(6,249)		(52)
Issuance of common stock (in shares)			28,030
Issuance of common stock	278	278		278
Transfers from redeemable common stock	2,279	2,279		2,279
Redemptions of common stock (in shares)			(269,904)
Redemptions of common stock	(2,568)	(2,568)	$ (3)	(2,565)
Distributions declared	(573)	(573)			(573)
Distributions to noncontrolling interests	$ (85)	0					(85)
Balance (in shares) at Jun. 30, 2019	66,342,855		66,342,855
Balance at Jun. 30, 2019	$ 302,152	$ 300,827	$ 663	$ 547,767	$ (247,603)	$ 0	$ 1,325

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Cash Flows from Operating Activities:
Net income (loss)	$ (6,301)	$ 9,993	$ 11,159	$ (13,709)
Adjustments to reconcile net income (loss) to net cash (used in) provided by operating activities:
Loss due to property damages			0	600
Casualty-related loss	506	0	506	0
Equity in (income) loss of unconsolidated joint ventures, net	215	2,373	(7,096)	4,751
Depreciation and amortization	8,357	9,042	16,037	16,307
(Gain) loss on real estate equity securities	(4,294)	(8,724)	(15,459)	7,287
Gain on sale of real estate	6	(25)	(7,569)	(649)
Loss on extinguishment of debt	0	0	856	0
Unrealized loss on interest rate caps			37	31
Deferred rent			(2,230)	(1,670)
Bad debt recovery			0	(218)
Amortization of above- and below-market leases, net			(536)	(500)
Amortization of deferred financing costs	800	900	1,709	1,699
Accretion of interest income on real estate debt securities			(13)	(128)
Net amortization of discount and (premium) on bond and notes payable			(46)	29
Foreign currency transaction gain (loss), net	2,474	(10,111)	5,290	(9,114)
Changes in assets and liabilities:
Rents and other receivables			(1,517)	(1,854)
Prepaid expenses and other assets			(2,716)	(3,606)
Accounts payable and accrued liabilities			(1,462)	911
Due to affiliates			19	13
Other liabilities			(383)	388
Net cash (used in) provided by operating activities			(3,414)	568
Cash Flows from Investing Activities:
Acquisitions of real estate			(90,266)	(312,348)
Improvements to real estate			(18,207)	(14,108)
Proceeds from sales of real estate, net			17,894	2,567
Reimbursement of construction costs			0	1,636
Insurance proceeds received for property damages			438	0
Purchase of interest rate cap			(28)	(163)
Contributions to unconsolidated joint venture			(5,000)	(1,320)
Distributions of capital from unconsolidated joint venture			8,051	1,160
Investment in real estate equity securities			(15)	(15,851)
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			(134)	(892)
Net cash used in investing activities			(55,441)	(339,319)
Cash Flows from Financing Activities:
Proceeds from notes and bonds payable			84,268	184,351
Principal payments on notes and bonds payable			(62,508)	(5,711)
Payments of deferred financing costs			(1,097)	(2,702)
Payments to redeem common stock			(5,107)	(115,071)
Payment of prepaid other offering costs			(2)	(295)
Distributions paid			(587)	(38,567)
Noncontrolling interests contributions			12	742
Distributions to noncontrolling interests			(1,824)	0
Other financing proceeds, net			1,822	0
Net cash provided by financing activities			14,977	22,747
Effect of exchange rate changes on cash, cash equivalents and restricted cash			2,203	(303)
Net decrease in cash, cash equivalents and restricted cash			(41,675)	(316,307)
Cash, cash equivalents and restricted cash, beginning of period			162,727	377,182	$ 377,182
Cash, cash equivalents and restricted cash, end of period	$ 121,052	$ 60,875	$ 121,052	$ 60,875	$ 162,727

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 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 June 30, 2019 , the Company had sold 6,800,440 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $76.0 million . Also, as of June 30, 2019 , the Company had redeemed 23,315,550 shares for $280.5 million . As of June 30, 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 June 30, 2019 , the Company consolidated seven office properties, one office portfolio consisting of four office buildings and 14 acres of undeveloped land, one retail property (which was held for sale), one apartment property and three investments in undeveloped land with approximately 1,000 developable acres and owned five investments in unconsolidated joint ventures and three investments in real estate equity securities.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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, joint ventures in which the Company has a controlling interest and VIEs in which the Company is the primary beneficiary. 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 six months ended June 30, 2019 , the Company had redeemed $5.1 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 June 2019 redemption date, except for 3,782,675 shares totaling $35.6 million due to the limitations under the share redemption program. The Company recorded $5.5 million and $10.0 million of redeemable common stock payable on the Company’s balance sheet as of June 30, 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 $4.9 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. During the three months ended June 30, 2019 , the Company classified one retail property as held for sale. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. 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 and six months ended June 30, 2018 , the Company reclassified $3.2 million and $5.3 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 and six months ended June 30, 2019 and 2018 . Distributions declared per share were $0.00860000 and $0.01720000 during the three and six months ended June 30, 2019 , respectively, and $0.01597500 and $0.03195000 during the three and six months ended June 30, 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	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
REAL ESTATE FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of June 30, 2019 , the Company owned seven office properties and one office portfolio consisting of four office buildings and 14 acres of undeveloped land, encompassing, in the aggregate, approximately 3.4 million rentable square feet. As of June 30, 2019 , these properties were 77% 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 June 30, 2019 and December 31, 2018 , respectively (in thousands): June 30, 2019 December 31, 2018 Land $ 158,741 $ 144,705 Buildings and improvements 592,898 503,383 Tenant origination and absorption costs 38,167 31,221 Total real estate, cost 789,806 679,309 Accumulated depreciation and amortization (57,925 ) (43,742 ) Total real estate, net $ 731,881 $ 635,567 The following table provides summary information regarding the Company’s real estate held for investment as of June 30, 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 $ 10,990 $ — $ 12,027 $ (3,182 ) $ 8,845 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 18,807 — 19,617 (4,912 ) 14,705 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,145 — 2,706 (840 ) 1,866 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,688 114 4,504 (1,337 ) 3,167 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0 % Total Richardson Portfolio 6,244 35,630 114 41,988 (10,271 ) 31,717 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 32,572 — — 32,572 — 32,572 100.0% (1) Park Centre 03/28/2013 Austin TX Office 3,251 34,235 — 37,486 (5,398 ) 32,088 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 39,029 — 47,321 (7,256 ) 40,065 100.0 % Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 26,470 — — 26,470 — 26,470 100.0% (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 66,822 4,956 94,368 (9,583 ) 84,785 100.0 % 125 John Carpenter 09/15/2017 Irving TX Office 2,755 77,288 8,723 88,766 (7,956 ) 80,810 100.0 % The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 77,399 4,271 92,057 (4,920 ) 87,137 100.0 % City Tower 03/06/2018 Orange CA Office 13,930 133,900 7,937 155,767 (9,109 ) 146,658 100.0 % Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 56,388 4,572 78,361 (2,848 ) 75,513 100.0 % Georgia 400 Center 05/23/2019 Alpharetta GA Office 11,431 72,207 7,594 91,232 (584 ) 90,648 100.0 % $ 158,741 $ 592,898 $ 38,167 $ 789,806 $ (57,925 ) $ 731,881 _____________________ (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 June 30, 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 12.8 years with a weighted-average remaining term of 4.7 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 $4.0 million and $3.7 million as of June 30, 2019 and December 31, 2018 , respectively. During the six months ended June 30, 2019 and 2018 , the Company recognized deferred rent from tenants of $2.2 million and $1.7 million , respectively, net of lease incentive amortization. As of June 30, 2019 and December 31, 2018 , the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $13.9 million and $9.6 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $3.4 million and $1.3 million of unamortized lease incentives as of June 30, 2019 and December 31, 2018 , respectively. As of June 30, 2019 , the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands): July 1, 2019 through December 31, 2019 $ 31,069 2020 61,681 2021 57,091 2022 49,585 2023 41,922 Thereafter 121,282 $ 362,630 As of June 30, 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 19 $ 8,595 13.1 % Insurance 26 7,212 11.0 % $ 15,807 24.1 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 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 six months ended June 30, 2019 , the Company recorded an adjustment to rental income of $0.2 million for lease payments that were deemed not probable of collection. During the six months ended June 30, 2019 and 2018 , the Company recorded bad debt recoveries of $0.2 million and $0.2 million , respectively, which were included in operating, maintenance and management expense in the accompanying consolidated statements of operations. Geographic Concentration Risk As of June 30, 2019 , the Company’s real estate investments in Georgia , Texas and California represented 17.2% , 14.5% and 14.4% , 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 Georgia , Texas and California 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. Recent Acquisition Georgia 400 Center On May 23, 2019, the Company, through an indirect wholly owned subsidiary, acquired an office property consisting of three buildings containing an aggregate of 416,463 rentable square feet located on approximately 24.4 acres of land in Alpharetta, Georgia (“Georgia 400 Center”). The seller is not affiliated with the Company or the Advisor. The purchase price (net of closing credits) of Georgia 400 Center was $90.3 million , which includes $1.2 million of capitalized acquisition costs. The Company recorded this acquisition as an asset acquisition and recorded $11.4 million to land, $72.0 million to building and improvements, $7.6 million to tenant origination and absorption costs and $0.7 million to below-market lease liabilities. The intangible assets and liabilities acquired in connection with this acquisition have weighted-average amortization periods as of the date of acquisition of 5.8 years for tenant origination and absorption costs and 2.4 years for below-market lease liabilities. Sale of Real Estate As of December 31, 2018 and June 30, 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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Cost $ 38,167 $ 31,221 $ 3,714 $ 3,714 $ (6,990 ) $ (6,418 ) Accumulated Amortization (9,796 ) (7,133 ) (539 ) (337 ) 2,010 1,471 Net Amount $ 28,371 $ 24,088 $ 3,175 $ 3,377 $ (4,980 ) $ (4,947 ) Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and six months ended June 30, 2019 and 2018 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended June 30, For the Three Months Ended June 30, For the Three Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (1,720 ) $ (2,088 ) $ (101 ) $ (111 ) $ 385 $ 385 Tenant Origination and Above-Market Below-Market For the Six Months Ended For the Six Months Ended For the Six Months Ended 2019 2018 2019 2018 2019 2018 Amortization $ (3,324 ) $ (3,625 ) $ (202 ) $ (155 ) $ 738 $ 655 Additionally, as of June 30, 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 $1.3 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 the three and six months ended June 30, 2019 , the Company recorded amortization expense of $0.1 million and $0.3 million , respectively, related to tax abatement intangible assets. During the three and six months ended June 30, 2018 , the Company recorded amortization expense of $0.2 million and $0.5 million , respectively, related to tax abatement intangible assets.

REAL ESTATE EQUITY SECURITIES

REAL ESTATE EQUITY SECURITIES	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE EQUITY SECURITIES	REAL ESTATE EQUITY SECURITIES As of June 30, 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 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 $ 1,208 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 43,589 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 20,470 2,772,529 17,273 59,848,241 $ 65,267 61,533,775 $ 73,876 During the six months ended June 30, 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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 4,294 $ 8,724 $ 15,459 $ (7,287 ) 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 held at the end of the period $ 4,294 $ 8,724 $ 12,062 $ (7,287 ) During the three and six months ended June 30, 2019 , the Company recognized $0.3 million and $2.1 million , respectively, of dividend income from real estate equity securities. During the three and six months ended June 30, 2018 , the Company recognized $1.2 million and $2.3 million , respectively, of dividend income from real estate equity securities. REAL ESTATE DEBT SECURITIES The information for real estate debt securities as of June 30, 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 six months ended June 30, 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 - June 30, 2019 $ — For the three and six months ended June 30, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Contractual interest income $ — $ 490 $ 356 $ 884 Interest accretion — 9 4 104 Accretion of commitment fee, net of closing costs and acquisition fee — 12 9 24 Interest income from real estate debt securities $ — $ 511 $ 369 $ 1,012

REAL ESTATE DEBT SECURITIES

REAL ESTATE DEBT SECURITIES	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE DEBT SECURITIES	REAL ESTATE EQUITY SECURITIES As of June 30, 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 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 $ 1,208 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 43,589 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 20,470 2,772,529 17,273 59,848,241 $ 65,267 61,533,775 $ 73,876 During the six months ended June 30, 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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 4,294 $ 8,724 $ 15,459 $ (7,287 ) 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 held at the end of the period $ 4,294 $ 8,724 $ 12,062 $ (7,287 ) During the three and six months ended June 30, 2019 , the Company recognized $0.3 million and $2.1 million , respectively, of dividend income from real estate equity securities. During the three and six months ended June 30, 2018 , the Company recognized $1.2 million and $2.3 million , respectively, of dividend income from real estate equity securities. REAL ESTATE DEBT SECURITIES The information for real estate debt securities as of June 30, 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 six months ended June 30, 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 - June 30, 2019 $ — For the three and six months ended June 30, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Contractual interest income $ — $ 490 $ 356 $ 884 Interest accretion — 9 4 104 Accretion of commitment fee, net of closing costs and acquisition fee — 12 9 24 Interest income from real estate debt securities $ — $ 511 $ 369 $ 1,012

REAL ESTATE HELD FOR SALE

REAL ESTATE HELD FOR SALE	6 Months Ended
	Jun. 30, 2019
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE HELD FOR SALE	REAL ESTATE HELD FOR SALE As of June 30, 2019 , the Company classified one retail property as held for sale. During the six months ended June 30, 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 June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ 16,799 $ 51,653 Accumulated depreciation and amortization (2,718 ) (6,100 ) Real estate, net 14,081 45,553 Other assets 666 3,330 Total assets related to real estate held for sale $ 14,747 $ 48,883 Liabilities related to real estate held for sale Notes payable, net 10,589 33,538 Other liabilities 42 58 Total liabilities related to real estate held for sale $ 10,631 $ 33,596 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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues Rental income $ 575 $ 5,768 $ 1,308 $ 11,493 Other operating income 69 104 106 149 Total revenues $ 644 $ 5,872 $ 1,414 $ 11,642 Expenses Operating, maintenance, and management $ 177 $ 1,796 $ 227 $ 3,096 Real estate taxes and insurance 47 511 28 1,001 Asset management fees to affiliate 74 472 150 935 Depreciation and amortization 58 2,176 249 5,001 Interest expense 130 1,726 303 3,340 Total expenses $ 486 $ 6,681 $ 957 $ 13,373

NOTES AND BOND PAYABLE

NOTES AND BOND PAYABLE	6 Months Ended
	Jun. 30, 2019
Notes and Bonds Payable [Abstract]
NOTES AND BOND PAYABLE	NOTES AND BONDS PAYABLE As of June 30, 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 Book Value as of Contractual Interest Rate as of (1) Effective Interest Rate at (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.94% Interest Only (3) 11/01/2021 Park Centre Mortgage Loan (4) 21,970 8,404 One-Month LIBOR + 1.75% 4.19% Interest Only 06/27/2022 Burbank Collection Mortgage Loan 10,595 10,716 One-Month LIBOR + 2.35% 4.79% Principal & Interest 09/30/2019 1180 Raymond Mortgage Loan 30,446 30,637 One-Month LIBOR + 2.25% 4.69% Principal & Interest 12/01/2019 1180 Raymond Bond Payable 6,180 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (5) — 23,710 (5) (5) (5) (5) KBS SOR (BVI) Holdings, Ltd. Series A Debentures (6) 217,418 259,516 4.25% 4.25% (6) 03/01/2023 Crown Pointe Mortgage Loan 51,171 51,171 One-Month LIBOR + 2.60% 5.04% Interest Only 02/13/2020 125 John Carpenter Mortgage Loan 53,204 53,204 One-Month LIBOR + 1.75% 4.19% Interest Only 10/01/2022 City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 3.99% Interest Only 03/05/2021 The Marq Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 3.99% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 4.04% Interest Only 06/08/2021 Georgia 400 Center Mortgage Loan 59,690 — One-Month LIBOR + 1.55% 3.98% Interest Only 05/22/2023 Total Notes and Bonds Payable principal outstanding 672,962 663,318 Net Premium/(Discount) on Notes and Bonds Payable (7) 835 198 Deferred financing costs, net (7,264 ) (8,044 ) Total Notes and Bonds Payable, net $ 666,533 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at June 30, 2019 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of June 30, 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 June 30, 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 June 27, 2019, the Company closed on the refinancing of the Park Centre Mortgage Loan. (5) 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. (6) See “ – Israeli Bond Financing” below. (7) Represents the unamortized premium/discount on notes and bonds payable due to the above- and below-market interest rates when the debt was assumed. The discount/premium is amortized over the remaining life of the notes and bonds payable. During the three and six months ended June 30, 2019 , the Company incurred $7.2 million and $14.4 million , respectively, of interest expense. Included in interest expense for the three and six months ended June 30, 2019 was $0.8 million and $1.7 million , respectively, of amortization of deferred financing costs. Additionally, during the three and six months ended June 30, 2019 , the Company capitalized $0.7 million and $1.4 million , respectively, of interest related to its investments in undeveloped land. During the three and six months ended June 30, 2018 , the Company incurred $7.8 million and $14.4 million , respectively, of interest expense. Included in interest expense for the three and six months ended June 30, 2018 was $0.9 million and $1.7 million , respectively, of amortization of deferred financing costs. Additionally, during the three and six months ended June 30, 2018 , the Company capitalized $0.6 million and $1.3 million , respectively, of interest related to its investments in undeveloped land. As of June 30, 2019 and December 31, 2018 , the Company’s interest payable was $4.7 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 June 30, 2019 (in thousands): July 1, 2019 through December 31, 2019 $ 41,142 2020 105,882 2021 276,717 2022 129,768 2023 114,298 Thereafter 5,155 $ 672,962 The Company’s notes payable contain financial debt covenants. As of June 30, 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 June 30, 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 June 30, 2019 , the Company was in compliance with all of these financial debt covenants.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 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 June 30, 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): June 30, 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 June 30, 2019 , the Company had entered into three 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 June 30, 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% Interest rate cap 06/21/2019 05/22/2023 $ 51,252 One-month LIBOR at 4.00% 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 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 3 $ 26 2 $ 34 Foreign currency collar Other liabilities 1 $ (169 ) 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 June 30, 2019 , the Company recognized a $1.2 million gain related to the foreign currency collars, which is shown net against $3.7 million of foreign currency transaction loss in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the six months ended June 30, 2019 , the Company recognized a $4.2 million gain related to the foreign currency collars, which is shown net against $9.5 million of foreign currency transaction loss in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the three months ended June 30, 2018 , the Company recognized a $2.2 million loss related to a foreign currency option, which is shown net against $12.3 million of foreign currency transaction gain in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the six months ended June 30, 2018 , the Company recognized a $4.3 million loss related to a foreign currency option, which is shown net against $13.4 million of foreign currency transaction gain in the accompanying consolidated statements of operations as foreign currency transaction loss , net. During the three and six months ended June 30, 2019 , the Company recorded unrealized losses of $7,000 and $37,000 , respectively, on interest rate caps, which was included in interest expense on the accompanying consolidated statements of operations. During the three and six months ended June 30, 2018 , the Company recorded unrealized losses of $62,000 and $31,000 , respectively, 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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2019 and December 31, 2018 , which carrying amounts do not approximate the fair values (in thousands): June 30, 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 $ 455,544 $ 452,766 $ 458,480 $ 403,802 $ 400,470 $ 407,449 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 217,418 $ 213,767 $ 218,686 $ 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 June 30, 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 $ 65,267 $ 65,267 $ — $ — Asset derivative - interest rate caps $ 26 $ — $ 26 $ — Liability derivative - foreign currency collar $ (169 ) $ — $ (169 ) $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 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, 2020. During the three and six months ended June 30, 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 and six months ended June 30, 2019 and 2018 , respectively, and any related amounts payable as of June 30, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, 2019 December 31, 2018 2019 2018 2019 2018 Expensed Asset management fees $ 1,971 $ 2,217 $ 3,861 $ 4,043 $ — $ — Reimbursable operating expenses (1) 83 115 172 198 48 29 Disposition fees (2) — — 394 — — — Capitalized Acquisition fees on real estate 897 734 897 3,094 — — Acquisition fee on investment in unconsolidated joint venture 50 — 50 — 50 — Acquisition fees on real estate equity securities — 9 — 157 — 7 $ 3,001 $ 3,075 $ 5,374 $ 7,492 $ 98 $ 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 $62,000 and $133,000 for the three and six months ended June 30, 2019 , respectively, and $78,000 and $161,000 for the three and six months ended June 30, 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. During the three and six months ended June 30, 2018 , the Advisor reimbursed the Company $0.1 million for a property insurance rebate. 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 June 30, 2019 , the Company had 210,000 shares of Battery Point Series A-3 Preferred Units with a per-unit price of $25 . On June 27, 2019, the Company made a $5.0 million investment in the Pacific Oak Opportunity Zone Fund I (defined below). Pacific Oak Opportunity Zone Fund I is sponsored by Pacific Oak. Pacific Oak is entitled to certain fees in connection with the fund. The fund will pay an acquisition fee equal to 1.5% of the purchase price of each asset (including any debt incurred or assumed and significant capital improvement costs budgeted as of the date of acquisition) with a purchase price less than or equal to $25.0 million plus 1.0% of the purchase price in excess of $25.0 million ; a quarterly asset management fee equal to 0.25% of the total purchase price of all assets (including any debt incurred or assumed and significant capital improvement costs budgeted as of the date of acquisition) as of the end of the applicable quarter; and a financing fee equal to 0.5% of the original principal amount of any indebtedness they incur (reduced by any financing fee previously paid with respect to indebtedness being refinanced). In the case of investments made through joint ventures, the fees above will be determined based on our proportionate share of the investment. Pacific Oak is also entitled to certain distributions paid by the Pacific Oak Opportunity Zone Fund I after the Class A Members have received their preferred return. These fees and distributions have been waived for the Company’s $5.0 million investment.

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	6 Months Ended
	Jun. 30, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED JOINT VENTURES As of June 30, 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 June 30, 2019 Investment Balance at Joint Venture Location Ownership % June 30, 2019 December 31, 2018 NIP Joint Venture 2 Various Less than 5.0% $ 1,225 $ 1,476 110 William Joint Venture 1 New York, New York 60.0% — 325 353 Sacramento Joint Venture 1 San Francisco, California 55.0% 42,689 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 2,992 — Pacific Oak Opportunity Zone Fund I N/A N/A N/A 5,050 — $ 51,956 $ 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 June 30, 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 and six months ended June 30, 2019 , the Company received a distribution of $0.3 million related to its investment in the NIP Joint Venture, which is reflected as a return of capital from the NIP Joint Venture. During the three months ended June 30, 2018 , the Company received a distribution of $0.9 million related to its investment in the NIP Joint Venture. The Company recognized $0.1 million of income distributions and $0.8 million of return of capital from the NIP Joint Venture. During the six months ended June 30, 2018, the Company received a distribution of $1.3 million related to its investment in the NIP Joint Venture. The Company recognized $0.2 million of income distributions and $1.1 million of return of capital from the NIP Joint Venture. Investment in 110 William Joint Venture On December 23, 2013, the Company, through an indirect wholly owned subsidiary, entered into an agreement with SREF III 110 William JV, LLC (the “110 William JV Partner”) to form a joint venture (the “110 William Joint Venture”). 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 and six months ended June 30, 2018 , the Company recorded $1.5 million and $3.1 million equity in loss from the 110 William Joint Venture, respectively. During the three and six months ended June 30, 2018 , the Company did no t receive any distributions related to its investment in the 110 William Joint Venture. As of June 30, 2019 , the book value of the Company’s investment in the 110 William Joint Venture was $0 . During the six months ended June 30, 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 six months ended June 30, 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 six months ended June 30, 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 the Company's share of losses and will not record the Company's share of any subsequent 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): June 30, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 241,767 $ 235,613 Other assets 32,485 37,337 Total assets $ 274,252 $ 272,950 Liabilities and equity: Notes payable, net $ 284,818 $ 267,311 Other liabilities 8,624 7,485 Partners’ deficit (19,190 ) (1,846 ) Total liabilities and equity $ 274,252 $ 272,950 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues $ 9,442 $ 9,951 $ 17,701 $ 19,760 Expenses: Operating, maintenance, and management 2,280 2,296 4,452 4,763 Real estate taxes and insurance 1,725 1,655 3,430 3,290 Depreciation and amortization 2,839 4,126 5,503 8,345 Interest expense 4,124 4,418 8,732 8,535 Total expenses 10,968 12,495 22,117 24,933 Total other income 39 24 71 38 Net loss $ (1,487 ) $ (2,520 ) $ (4,345 ) $ (5,135 ) Company’s share of net loss (1) $ (892 ) $ (1,512 ) $ (2,607 ) $ (3,081 ) _____________________ (1) During the three and six months ended June 30, 2019 , the Company recorded $0 and $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 and six months ended June 30, 2019 , the Company did no t receive any distributions related to its investment in the 353 Sacramento Joint Venture. During the three and six months ended June 30, 2018 , the Company made a $1.3 million contribution to the 353 Sacramento Joint Venture. Summarized financial information for the 353 Sacramento Joint Venture follows (in thousands): June 30, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 179,347 $ 180,852 Other assets 12,573 13,123 Total assets $ 191,920 $ 193,975 Liabilities and equity: Notes payable, net $ 109,994 $ 105,593 Other liabilities 5,223 10,863 Partners’ capital 76,703 77,519 Total liabilities and equity $ 191,920 $ 193,975 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues $ 4,187 $ 2,627 $ 8,345 $ 5,296 Expenses: Operating, maintenance, and management 939 891 1,769 1,769 Real estate taxes and insurance 694 605 1,395 1,217 Depreciation and amortization 1,563 1,387 3,131 2,837 Interest expense 1,447 1,348 2,866 2,587 Total expenses 4,643 4,231 9,161 8,410 Net loss (456 ) (1,604 ) (816 ) (3,114 ) Company’s equity in loss of unconsolidated joint venture $ (215 ) $ (851 ) $ (379 ) $ (1,649 ) 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 June 30, 2019 , at a carrying value of $3.0 million . During the three and six months ended June 30, 2019 , the Company received a distribution of $0.1 million , which was recognized as dividend income from real estate equity securities. Investment in Pacific Oak Opportunity Zone Fund I On June 27, 2019, the Company acquired 22 Class A Units for $5.0 million in Pacific Oak Opportunity Zone Fund I, LLC (“Pacific Oak Opportunity Zone Fund I”). As of June 30, 2019, the book value of the Company’s investment in Pacific Oak Opportunity Zone Fund I was $5.1 million , which includes $0.1 million of acquisition fees. As of June 30, 2019 , Pacific Oak Opportunity Zone Fund I consolidated one joint venture with real estate under development. As of June 30, 2019 , the Company has concluded that Pacific Oak Opportunity Zone Fund I qualifies as a Variable Interest Entity (“VIE”) because there is insufficient equity at risk to finance the entity’s activities and the entity is structured with non-substantive voting rights. The Company concluded it is not the primary beneficiary of this VIE since it does not have the power to direct the activities that most significantly impact the entity’s economic performance and will account for its investment under the equity method of accounting. The Company’s maximum exposure to loss as a result of its involvement with this VIE is limited to the carrying value of the investment in Pacific Oak Opportunity Zone Fund I which totaled $5.1 million as of June 30, 2019 .

SUPPLEMENTAL CASH FLOW AND SIGN

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	6 Months Ended
	Jun. 30, 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): Six Months Ended June 30, 2019 2018 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $1,389 and $1,282 for the six months ended June 30, 2019 and 2018, respectively $ 13,156 $ 12,247 Supplemental Disclosure of Significant Noncash Transactions: Accrued improvements to real estate 5,286 4,982 Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — Redeemable common stock payable 5,463 421 Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 564 964 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	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 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 June 30, 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	6 Months Ended
	Jun. 30, 2019
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Distribution Declared On August 8, 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 September 13, 2019 . The Company expects to pay this distribution on or about September 18, 2019 . Real Estate Disposition Subsequent to June 30, 2019 Burbank Collection On July 19, 2019, the Burbank Collection joint venture sold the Burbank Collection to a purchaser unaffiliated with the Company or the Advisor, for $25.9 million before closing costs. As of June 30, 2019, the carrying value of the Burbank Collection was $14.7 million , which was net of $2.7 million of accumulated depreciation and amortization. On July 19, 2019, in connection with the disposition of the Burbank Collection, the Burbank Collection joint venture repaid $10.6 million of the outstanding principal balance due under the Burbank Collection mortgage loan.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 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, joint ventures in which the Company has a controlling interest and VIEs in which the Company is the primary beneficiary. 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 six months ended June 30, 2019 , the Company had redeemed $5.1 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 June 2019 redemption date, except for 3,782,675 shares totaling $35.6 million due to the limitations under the share redemption program. The Company recorded $5.5 million and $10.0 million of redeemable common stock payable on the Company’s balance sheet as of June 30, 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 $4.9 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. During the three months ended June 30, 2019 , the Company classified one retail property as held for sale. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. 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 and six months ended June 30, 2018 , the Company reclassified $3.2 million and $5.3 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 and six months ended June 30, 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 June 30, 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)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Schedule of Real Estate Investments	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 19 $ 8,595 13.1 % Insurance 26 7,212 11.0 % $ 15,807 24.1 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 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. The following table summarizes the Company’s real estate held for investment as of June 30, 2019 and December 31, 2018 , respectively (in thousands): June 30, 2019 December 31, 2018 Land $ 158,741 $ 144,705 Buildings and improvements 592,898 503,383 Tenant origination and absorption costs 38,167 31,221 Total real estate, cost 789,806 679,309 Accumulated depreciation and amortization (57,925 ) (43,742 ) Total real estate, net $ 731,881 $ 635,567 The following table provides summary information regarding the Company’s real estate held for investment as of June 30, 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 $ 10,990 $ — $ 12,027 $ (3,182 ) $ 8,845 90.0 % Palisades Central II 11/23/2011 Richardson TX Office 810 18,807 — 19,617 (4,912 ) 14,705 90.0 % Greenway I 11/23/2011 Richardson TX Office 561 2,145 — 2,706 (840 ) 1,866 90.0 % Greenway III 11/23/2011 Richardson TX Office 702 3,688 114 4,504 (1,337 ) 3,167 90.0 % Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0 % Total Richardson Portfolio 6,244 35,630 114 41,988 (10,271 ) 31,717 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 32,572 — — 32,572 — 32,572 100.0% (1) Park Centre 03/28/2013 Austin TX Office 3,251 34,235 — 37,486 (5,398 ) 32,088 100.0 % 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 39,029 — 47,321 (7,256 ) 40,065 100.0 % Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 26,470 — — 26,470 — 26,470 100.0% (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 66,822 4,956 94,368 (9,583 ) 84,785 100.0 % 125 John Carpenter 09/15/2017 Irving TX Office 2,755 77,288 8,723 88,766 (7,956 ) 80,810 100.0 % The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 77,399 4,271 92,057 (4,920 ) 87,137 100.0 % City Tower 03/06/2018 Orange CA Office 13,930 133,900 7,937 155,767 (9,109 ) 146,658 100.0 % Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 56,388 4,572 78,361 (2,848 ) 75,513 100.0 % Georgia 400 Center 05/23/2019 Alpharetta GA Office 11,431 72,207 7,594 91,232 (584 ) 90,648 100.0 % $ 158,741 $ 592,898 $ 38,167 $ 789,806 $ (57,925 ) $ 731,881 _____________________ (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.
Schedule of Future Minimum Rental Income for Company's Properties	As of June 30, 2019 , the future minimum rental income from the Company’s properties, excluding apartment leases, under non-cancelable operating leases was as follows (in thousands): July 1, 2019 through December 31, 2019 $ 31,069 2020 61,681 2021 57,091 2022 49,585 2023 41,922 Thereafter 121,282 $ 362,630

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 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 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Cost $ 38,167 $ 31,221 $ 3,714 $ 3,714 $ (6,990 ) $ (6,418 ) Accumulated Amortization (9,796 ) (7,133 ) (539 ) (337 ) 2,010 1,471 Net Amount $ 28,371 $ 24,088 $ 3,175 $ 3,377 $ (4,980 ) $ (4,947 )
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and six months ended June 30, 2019 and 2018 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended June 30, For the Three Months Ended June 30, For the Three Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (1,720 ) $ (2,088 ) $ (101 ) $ (111 ) $ 385 $ 385 Tenant Origination and Above-Market Below-Market For the Six Months Ended For the Six Months Ended For the Six Months Ended 2019 2018 2019 2018 2019 2018 Amortization $ (3,324 ) $ (3,625 ) $ (202 ) $ (155 ) $ 738 $ 655

REAL ESTATE EQUITY SECURITIES (

REAL ESTATE EQUITY SECURITIES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 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 $ 1,208 1,781,894 $ 21,846 Keppel-KBS US REIT 56,979,352 43,589 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 20,470 2,772,529 17,273 59,848,241 $ 65,267 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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 4,294 $ 8,724 $ 15,459 $ (7,287 ) 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 held at the end of the period $ 4,294 $ 8,724 $ 12,062 $ (7,287 )

REAL ESTATE DEBT SECURITIES (Ta

REAL ESTATE DEBT SECURITIES (Tables)	6 Months Ended
	Jun. 30, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Activity of Real Estate Debt Securities	The information for real estate debt securities as of June 30, 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 six months ended June 30, 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 - June 30, 2019 $ —
Schedule of Interest Income from Real Estate Debt Securities	For the three and six months ended June 30, 2019 and 2018 , interest income from real estate debt securities consisted of the following (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Contractual interest income $ — $ 490 $ 356 $ 884 Interest accretion — 9 4 104 Accretion of commitment fee, net of closing costs and acquisition fee — 12 9 24 Interest income from real estate debt securities $ — $ 511 $ 369 $ 1,012

REAL ESTATE HELD FOR SALE (Tabl

REAL ESTATE HELD FOR SALE (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 and December 31, 2018 (in thousands): June 30, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ 16,799 $ 51,653 Accumulated depreciation and amortization (2,718 ) (6,100 ) Real estate, net 14,081 45,553 Other assets 666 3,330 Total assets related to real estate held for sale $ 14,747 $ 48,883 Liabilities related to real estate held for sale Notes payable, net 10,589 33,538 Other liabilities 42 58 Total liabilities related to real estate held for sale $ 10,631 $ 33,596
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 and six months ended June 30, 2019 and 2018 (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues Rental income $ 575 $ 5,768 $ 1,308 $ 11,493 Other operating income 69 104 106 149 Total revenues $ 644 $ 5,872 $ 1,414 $ 11,642 Expenses Operating, maintenance, and management $ 177 $ 1,796 $ 227 $ 3,096 Real estate taxes and insurance 47 511 28 1,001 Asset management fees to affiliate 74 472 150 935 Depreciation and amortization 58 2,176 249 5,001 Interest expense 130 1,726 303 3,340 Total expenses $ 486 $ 6,681 $ 957 $ 13,373

NOTES AND BOND PAYABLE (Tables)

NOTES AND BOND PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2019
Notes and Bonds Payable [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 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 Book Value as of Contractual Interest Rate as of (1) Effective Interest Rate at (1) Payment Type Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.94% Interest Only (3) 11/01/2021 Park Centre Mortgage Loan (4) 21,970 8,404 One-Month LIBOR + 1.75% 4.19% Interest Only 06/27/2022 Burbank Collection Mortgage Loan 10,595 10,716 One-Month LIBOR + 2.35% 4.79% Principal & Interest 09/30/2019 1180 Raymond Mortgage Loan 30,446 30,637 One-Month LIBOR + 2.25% 4.69% Principal & Interest 12/01/2019 1180 Raymond Bond Payable 6,180 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (5) — 23,710 (5) (5) (5) (5) KBS SOR (BVI) Holdings, Ltd. Series A Debentures (6) 217,418 259,516 4.25% 4.25% (6) 03/01/2023 Crown Pointe Mortgage Loan 51,171 51,171 One-Month LIBOR + 2.60% 5.04% Interest Only 02/13/2020 125 John Carpenter Mortgage Loan 53,204 53,204 One-Month LIBOR + 1.75% 4.19% Interest Only 10/01/2022 City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 3.99% Interest Only 03/05/2021 The Marq Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 3.99% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 4.04% Interest Only 06/08/2021 Georgia 400 Center Mortgage Loan 59,690 — One-Month LIBOR + 1.55% 3.98% Interest Only 05/22/2023 Total Notes and Bonds Payable principal outstanding 672,962 663,318 Net Premium/(Discount) on Notes and Bonds Payable (7) 835 198 Deferred financing costs, net (7,264 ) (8,044 ) Total Notes and Bonds Payable, net $ 666,533 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at June 30, 2019 , where applicable. (2) Represents the initial maturity date or the maturity date as extended as of June 30, 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 June 30, 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 June 27, 2019, the Company closed on the refinancing of the Park Centre Mortgage Loan. (5) 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. (6) See “ – Israeli Bond Financing” below. (7) Represents the unamortized premium/discount on notes and bonds payable due to the above- and below-market interest rates when the debt was assumed. The discount/premium is amortized over the remaining life of the notes and bonds payable.
Schedule of Maturities of Long-term Debt	The following is a schedule of maturities, including principal amortization payments, for all notes and bonds payable outstanding as of June 30, 2019 (in thousands): July 1, 2019 through December 31, 2019 $ 41,142 2020 105,882 2021 276,717 2022 129,768 2023 114,298 Thereafter 5,155 $ 672,962

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 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% Interest rate cap 06/21/2019 05/22/2023 $ 51,252 One-month LIBOR at 4.00% The following table summarizes the notional amount and other information related to the Company’s foreign currency collar as of June 30, 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): June 30, 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 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 3 $ 26 2 $ 34 Foreign currency collar Other liabilities 1 $ (169 ) 1 $ (4,393 )

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 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 June 30, 2019 and December 31, 2018 , which carrying amounts do not approximate the fair values (in thousands): June 30, 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 $ 455,544 $ 452,766 $ 458,480 $ 403,802 $ 400,470 $ 407,449 KBS SOR (BVI) Holdings, Ltd. Series A Debentures $ 217,418 $ 213,767 $ 218,686 $ 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 June 30, 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 $ 65,267 $ 65,267 $ — $ — Asset derivative - interest rate caps $ 26 $ — $ 26 $ — Liability derivative - foreign currency collar $ (169 ) $ — $ (169 ) $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 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 and six months ended June 30, 2019 and 2018 , respectively, and any related amounts payable as of June 30, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, 2019 December 31, 2018 2019 2018 2019 2018 Expensed Asset management fees $ 1,971 $ 2,217 $ 3,861 $ 4,043 $ — $ — Reimbursable operating expenses (1) 83 115 172 198 48 29 Disposition fees (2) — — 394 — — — Capitalized Acquisition fees on real estate 897 734 897 3,094 — — Acquisition fee on investment in unconsolidated joint venture 50 — 50 — 50 — Acquisition fees on real estate equity securities — 9 — 157 — 7 $ 3,001 $ 3,075 $ 5,374 $ 7,492 $ 98 $ 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 $62,000 and $133,000 for the three and six months ended June 30, 2019 , respectively, and $78,000 and $161,000 for the three and six months ended June 30, 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)	6 Months Ended
	Jun. 30, 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): June 30, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 241,767 $ 235,613 Other assets 32,485 37,337 Total assets $ 274,252 $ 272,950 Liabilities and equity: Notes payable, net $ 284,818 $ 267,311 Other liabilities 8,624 7,485 Partners’ deficit (19,190 ) (1,846 ) Total liabilities and equity $ 274,252 $ 272,950 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues $ 9,442 $ 9,951 $ 17,701 $ 19,760 Expenses: Operating, maintenance, and management 2,280 2,296 4,452 4,763 Real estate taxes and insurance 1,725 1,655 3,430 3,290 Depreciation and amortization 2,839 4,126 5,503 8,345 Interest expense 4,124 4,418 8,732 8,535 Total expenses 10,968 12,495 22,117 24,933 Total other income 39 24 71 38 Net loss $ (1,487 ) $ (2,520 ) $ (4,345 ) $ (5,135 ) Company’s share of net loss (1) $ (892 ) $ (1,512 ) $ (2,607 ) $ (3,081 ) _____________________ (1) During the three and six months ended June 30, 2019 , the Company recorded $0 and $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): June 30, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 179,347 $ 180,852 Other assets 12,573 13,123 Total assets $ 191,920 $ 193,975 Liabilities and equity: Notes payable, net $ 109,994 $ 105,593 Other liabilities 5,223 10,863 Partners’ capital 76,703 77,519 Total liabilities and equity $ 191,920 $ 193,975 Three Months Ended June 30, Six Months Ended June 30, 2019 2018 2019 2018 Revenues $ 4,187 $ 2,627 $ 8,345 $ 5,296 Expenses: Operating, maintenance, and management 939 891 1,769 1,769 Real estate taxes and insurance 694 605 1,395 1,217 Depreciation and amortization 1,563 1,387 3,131 2,837 Interest expense 1,447 1,348 2,866 2,587 Total expenses 4,643 4,231 9,161 8,410 Net loss (456 ) (1,604 ) (816 ) (3,114 ) Company’s equity in loss of unconsolidated joint venture $ (215 ) $ (851 ) $ (379 ) $ (1,649 ) As of June 30, 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 June 30, 2019 Investment Balance at Joint Venture Location Ownership % June 30, 2019 December 31, 2018 NIP Joint Venture 2 Various Less than 5.0% $ 1,225 $ 1,476 110 William Joint Venture 1 New York, New York 60.0% — 325 353 Sacramento Joint Venture 1 San Francisco, California 55.0% 42,689 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 2,992 — Pacific Oak Opportunity Zone Fund I N/A N/A N/A 5,050 — $ 51,956 $ 44,869

SUPPLEMENTAL CASH FLOW AND SI_2

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 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): Six Months Ended June 30, 2019 2018 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $1,389 and $1,282 for the six months ended June 30, 2019 and 2018, respectively $ 13,156 $ 12,247 Supplemental Disclosure of Significant Noncash Transactions: Accrued improvements to real estate 5,286 4,982 Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — Redeemable common stock payable 5,463 421 Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 564 964 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 ($)	Mar. 08, 2016ILS (₪)	Mar. 08, 2016ILS (₪)	Mar. 07, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Jun. 30, 2019USD ($)aportfoliopropertyinvestmentshares	Jun. 30, 2018USD ($)shares	Jun. 30, 2019USD ($)aportfoliopropertyinvestmentshares	Jun. 30, 2018USD ($)shares	Nov. 14, 2012USD ($)shares	Jun. 30, 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	1,000,000,000
Common stock, shares issued (in shares)						66,342,855		66,342,855			66,342,855	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 | $						$ 278	$ 485	$ 564	$ 964	$ 561,700
Shares of common stock sold under dividend reinvestment plan, value | $											$ 76,000
Redemptions of common stock | $						2,568	$ 110,461	5,107	$ 115,071		280,500
Common stock, value, issued | $						$ 663		$ 663			$ 663	$ 668			$ 500	$ 2,000
Number of investments in unconsolidated joint venture | investment						5		5			5
Number of investments in equity securities | investment						3		3			3
Office Properties
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						7		7			7
Number of real estate properties | property						7		7			7
Office Properties | Held-for-sale
Organizational Structure [Line Items]
Number of real estate properties | property						1		1			1
Office Portfolio
Organizational Structure [Line Items]
Number of real estate properties consolidated | portfolio						1		1			1
Office Buildings, Portfolio
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						4		4			4
Undeveloped Land, Portfolio
Organizational Structure [Line Items]
Real estate area of undeveloped land | a						14		14			14
Retail Property | Held-for-sale
Organizational Structure [Line Items]
Number of real estate properties | property						1		1			1
Apartment Property
Organizational Structure [Line Items]
Number of real estate properties consolidated | property						1		1			1
Undeveloped Land
Organizational Structure [Line Items]
Real estate area of undeveloped land | a						1,000		1,000			1,000
Number of investments in real estate | investment						3		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			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)						28,030	42,174	56,814	83,855	56,584,976
Issuance of common stock | $								$ 1	$ 1
Shares of common stock sold under dividend reinvestment plan, (in shares)											6,800,440
Redemptions of common stock (in shares)						269,904	10,104,927	536,820	10,524,499		23,315,550
Redemptions of common stock | $						$ 3	$ 100	$ 6	$ 105
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) $ in Thousands	3 Months Ended		6 Months Ended		115 Months Ended
	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)propertyshares	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)property	Dec. 31, 2018USD ($)
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock	$ 2,568	$ 110,461	$ 5,107	$ 115,071	$ 280,500
Other liabilities	18,043		18,043		18,043	$ 21,006
Remaining authorized repurchase amount	$ 4,900		$ 4,900		$ 4,900
Office Properties
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties | property	7		7		7
Held-for-sale | Office Properties
Summary of Significant Accounting Policies [Line Items]
Number of real estate properties | property	1		1		1
Accounting Standards Update 2016-02
Summary of Significant Accounting Policies [Line Items]
Tenant reimbursement revenue		3,200		5,300
Unfulfilled Redemption Request
Summary of Significant Accounting Policies [Line Items]
Other liabilities	$ 5,500		$ 5,500		$ 5,500	$ 10,000
Common Stock
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock	$ 3	$ 100	$ 6	$ 105
Number of shares non-redeemable due to limitation (in shares) | shares			3,782,675
Number of shares non-redeemable due to limitation			$ 35,600
Common Stock | Share Redemption Program
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock			$ 5,100

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Segments and Per Share Data) (Narrative) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2019$ / sharesshares	Jun. 30, 2018$ / sharesshares	Jun. 30, 2019segment$ / sharesshares	Jun. 30, 2018$ / sharesshares
Accounting Policies [Abstract]
Number of reportable segments | segment			1
Potentially dilutive securities | shares	0	0	0	0
Distributions declared per common share (in dollars per share) | $ / shares	$ 0.0086	$ 0.015975	$ 0.0172	$ 0.03195

REAL ESTATE HELD FOR INVESTME_3

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details) ft² in Millions, $ in Millions	Jun. 30, 2019USD ($)aft²unitpropertyinvestment	Dec. 31, 2018USD ($)
Real Estate Properties [Line Items]
Rentable square feet | ft²	3.4
Percentage of portfolio occupied	77.00%
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	7
Number of real estate properties consolidated	7
Undeveloped Land, Portfolio
Real Estate Properties [Line Items]
Real estate area of undeveloped land | a	14
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	Jun. 30, 2019	Dec. 31, 2018
Real Estate Properties [Line Items]
Total real estate, cost			$ 789,806	$ 679,309
Accumulated depreciation and amortization			(57,925)	(43,742)
Total real estate, net			731,881	635,567
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			41,988
Accumulated depreciation and amortization			(10,271)
Total real estate, net			31,717
Palisades Central I
Real Estate Properties [Line Items]
Total real estate, cost			12,027
Accumulated depreciation and amortization			(3,182)
Total real estate, net			$ 8,845
Ownership %			90.00%
Palisades Central II
Real Estate Properties [Line Items]
Total real estate, cost			$ 19,617
Accumulated depreciation and amortization			(4,912)
Total real estate, net			$ 14,705
Ownership %			90.00%
Greenway I
Real Estate Properties [Line Items]
Total real estate, cost			$ 2,706
Accumulated depreciation and amortization			(840)
Total real estate, net			$ 1,866
Ownership %			90.00%
Greenway III
Real Estate Properties [Line Items]
Total real estate, cost			$ 4,504
Accumulated depreciation and amortization			(1,337)
Total real estate, net			$ 3,167
Ownership %			90.00%
Undeveloped Land
Real Estate Properties [Line Items]
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]
Total real estate, cost			$ 32,572
Accumulated depreciation and amortization			0
Total real estate, net			$ 32,572
Ownership %			100.00%
Park Centre
Real Estate Properties [Line Items]
Total real estate, cost			$ 37,486
Accumulated depreciation and amortization			(5,398)
Total real estate, net			$ 32,088
Ownership %			100.00%
1180 Raymond
Real Estate Properties [Line Items]
Total real estate, cost			$ 47,321
Accumulated depreciation and amortization			(7,256)
Total real estate, net			$ 40,065
Ownership %			100.00%
Park Highlands II
Real Estate Properties [Line Items]
Total real estate, cost			$ 26,470
Accumulated depreciation and amortization			0
Total real estate, net			$ 26,470
Ownership %			100.00%
Richardson Land II
Real Estate Properties [Line Items]
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]
Total real estate, cost			$ 94,368
Accumulated depreciation and amortization			(9,583)
Total real estate, net			$ 84,785
Ownership %			100.00%
125 John Carpenter
Real Estate Properties [Line Items]
Total real estate, cost			$ 88,766
Accumulated depreciation and amortization			(7,956)
Total real estate, net			$ 80,810
Ownership %			100.00%
The Marq
Real Estate Properties [Line Items]
Total real estate, cost			$ 92,057
Accumulated depreciation and amortization			(4,920)
Total real estate, net			$ 87,137
Ownership %			100.00%
City Tower
Real Estate Properties [Line Items]
Total real estate, cost			$ 155,767
Accumulated depreciation and amortization			(9,109)
Total real estate, net			$ 146,658
Ownership %			100.00%
Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Total real estate, cost			$ 78,361
Accumulated depreciation and amortization			(2,848)
Total real estate, net			$ 75,513
Ownership %			100.00%
Georgia 400 Center
Real Estate Properties [Line Items]
Total real estate, cost			$ 91,232
Accumulated depreciation and amortization			(584)
Total real estate, net			$ 90,648
Ownership %			100.00%
Land
Real Estate Properties [Line Items]
Total real estate, cost			$ 158,741	144,705
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			32,572
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			26,470
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
Land | Georgia 400 Center
Real Estate Properties [Line Items]
Total real estate, cost			11,431
Buildings and improvements
Real Estate Properties [Line Items]
Total real estate, cost			592,898	503,383
Buildings and improvements | Richardson Portfolio
Real Estate Properties [Line Items]
Total real estate, cost			35,630
Buildings and improvements | Palisades Central I
Real Estate Properties [Line Items]
Total real estate, cost			10,990
Buildings and improvements | Palisades Central II
Real Estate Properties [Line Items]
Total real estate, cost			18,807
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 | Park Centre
Real Estate Properties [Line Items]
Total real estate, cost			34,235
Buildings and improvements | 1180 Raymond
Real Estate Properties [Line Items]
Total real estate, cost			39,029
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			66,822
Buildings and improvements | 125 John Carpenter
Real Estate Properties [Line Items]
Total real estate, cost			77,288
Buildings and improvements | The Marq
Real Estate Properties [Line Items]
Total real estate, cost			77,399
Buildings and improvements | City Tower
Real Estate Properties [Line Items]
Total real estate, cost			133,900
Buildings and improvements | Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Total real estate, cost			56,388
Buildings and improvements | Georgia 400 Center
Real Estate Properties [Line Items]
Total real estate, cost			72,207
Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total real estate, cost			38,167	$ 31,221
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 | 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			4,956
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			4,572
Tenant origination and absorption costs | Georgia 400 Center
Real Estate Properties [Line Items]
Total real estate, cost			$ 7,594

REAL ESTATE HELD FOR INVESTME_5

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)tenant	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Operating Leased Assets [Line Items]
Recognition of deferred revenue, net of discontinued operations	$ 2,200	$ 1,700
Deferred rent receivables	13,900		$ 9,600
Incentive to lessee	$ 3,400		1,300
Number of tenants | tenant	250
Bad debt (recovery) expense	$ 0	(218)
Adjustment to Rental Income
Operating Leased Assets [Line Items]
Bad debt (recovery) expense	200
Operating, Maintenance and Management Expense
Operating Leased Assets [Line Items]
Bad debt (recovery) expense	(200)	$ (200)
Other liabilities
Operating Leased Assets [Line Items]
Security deposit liability	$ 4,000		$ 3,700
Maximum
Operating Leased Assets [Line Items]
Operating lease, term	12 years 9 months 18 days
Weighted Average
Operating Leased Assets [Line Items]
Operating lease, term	4 years 8 months 12 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	Jun. 30, 2019USD ($)
Real Estate [Abstract]
July 1, 2019 through December 31, 2019	$ 31,069
2020	61,681
2021	57,091
2022	49,585
2023	41,922
Thereafter	121,282
Future minimum rental income	$ 362,630

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	6 Months Ended
	Jun. 30, 2019USD ($)tenant
Concentration Risk [Line Items]
Number of tenants | tenant	250
Annualized Base Rent | $	$ 15,807
Percentage of Annualized Base Rent	24.10%
Health Care and Social Services
Concentration Risk [Line Items]
Number of tenants | tenant	19
Annualized Base Rent | $	$ 8,595
Percentage of Annualized Base Rent	13.10%
Insurance
Concentration Risk [Line Items]
Number of tenants | tenant	26
Annualized Base Rent | $	$ 7,212
Percentage of Annualized Base Rent	11.00%

REAL ESTATE HELD FOR INVESTME_8

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details)	6 Months Ended
	Jun. 30, 2019
Concentration Risk [Line Items]
Concentration risk, percentage	24.10%
Georgia | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	17.20%
Texas | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	14.50%
California | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	14.40%

REAL ESTATE HELD FOR INVESTME_9

REAL ESTATE HELD FOR INVESTMENT (Recent Real Estate Acquisition) (Details) $ in Thousands	May 23, 2019USD ($)aft²property	Jun. 30, 2019USD ($)ft²	Dec. 31, 2018USD ($)
Business Acquisition [Line Items]
Rentable square feet | ft²		3,400,000
Total real estate, cost		$ 789,806	$ 679,309
Below-market leases		4,980	4,947
Land
Business Acquisition [Line Items]
Total real estate, cost		158,741	144,705
Buildings and improvements
Business Acquisition [Line Items]
Total real estate, cost		592,898	503,383
Tenant origination and absorption costs
Business Acquisition [Line Items]
Total real estate, cost		$ 38,167	$ 31,221
Georgia 400 Center | Office Properties
Business Acquisition [Line Items]
Number of real estate properties acquired | property	1
Rentable square feet | ft²	416,463
Area of land | a	24.4
Purchase price	$ 90,300
Capitalized acquisition costs	1,200
Below-market leases	$ 700
Georgia 400 Center | Office Properties | Tenant origination and absorption costs
Business Acquisition [Line Items]
Remaining amortization period	5 years 9 months 18 days
Georgia 400 Center | Office Properties | Below-market lease liabilities
Business Acquisition [Line Items]
Remaining amortization period	2 years 4 months 24 days
Georgia 400 Center | Office Properties | Land
Business Acquisition [Line Items]
Total real estate, cost	$ 11,400
Georgia 400 Center | Office Properties | Buildings and improvements
Business Acquisition [Line Items]
Total real estate, cost	72,000
Georgia 400 Center | Office Properties | Tenant origination and absorption costs
Business Acquisition [Line Items]
Total real estate, cost	$ 7,600
Georgia 400 Center | Office Property, Number of Buildings
Business Acquisition [Line Items]
Number of real estate properties acquired | property	3

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 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	$ 38,167		$ 38,167		$ 31,221
Tenant Origination and Absorption Costs, Accumulated Amortization	(9,796)		(9,796)		(7,133)
Tenant Origination and Absorption Costs, Net Amount	28,371		28,371		24,088
Tenant Origination and Absorption Costs, Amortization	(1,720)	$ (2,088)	(3,324)	$ (3,625)
Above-Market Lease Assets, Cost	3,714		3,714		3,714
Above-Market Lease Assets, Accumulated Amortization	(539)		(539)		(337)
Above-Market Lease Assets, Net Amount	3,175		3,175		3,377
Above-Market Lease Assets, Amortization	(101)	(111)	(202)	(155)
Below-Market Lease Liabilities, Cost	(6,990)		(6,990)		(6,418)
Below-Market Lease Liabilities, Accumulated Amortization	2,010		2,010		1,471
Below-Market Lease Liabilities, Net Amount	(4,980)		(4,980)		$ (4,947)
Below-Market Lease Liabilities, Amortization	$ 385	$ 385	$ 738	$ 655

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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Tax abatement asset	$ 1,300		$ 1,300		$ 1,600
Depreciation and amortization	8,357	$ 9,042	16,037	$ 16,307
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	$ 100	$ 200	$ 300	$ 500

REAL ESTATE EQUITY SECURITIES_2

REAL ESTATE EQUITY SECURITIES (Narrative) (Details) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)investment	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)investmentshares	Jun. 30, 2018USD ($)
Debt Securities, Available-for-sale [Line Items]
Number of investments in equity securities | investment	3		3
Dividend income from real estate equity securities	$ 343	$ 1,209	$ 2,119	$ 2,260
Whitestone REIT | Common Stock
Debt Securities, Available-for-sale [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	Jun. 30, 2019	Dec. 31, 2018
Debt Securities, Available-for-sale [Line Items]
Total Carrying Value	$ 65,267	$ 73,876
Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Number of Shares Owned (in shares)	59,848,241	61,533,775
Whitestone REIT
Debt Securities, Available-for-sale [Line Items]
Total Carrying Value	$ 1,208	$ 21,846
Whitestone REIT | Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Number of Shares Owned (in shares)	95,160	1,781,894
Keppel-KBS US REIT
Debt Securities, Available-for-sale [Line Items]
Total Carrying Value	$ 43,589	$ 34,757
Keppel-KBS US REIT | Available-for-sale Securities
Debt Securities, Available-for-sale [Line Items]
Number of Shares Owned (in shares)	56,979,352	56,979,352
Franklin Street Properties Corp.
Debt Securities, Available-for-sale [Line Items]
Total Carrying Value	$ 20,470	$ 17,273
Franklin Street Properties Corp. | Available-for-sale Securities
Debt Securities, Available-for-sale [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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investments, Debt and Equity Securities [Abstract]
Net gain (loss) recognized during the period on real estate equity securities	$ 4,294	$ 8,724	$ 15,459	$ (7,287)
Less net gain recognized during the period on real estate equity securities sold during the period	0	0	(3,397)	0
Unrealized gain (loss) recognized during the reporting period on real estate equity securities held at the end of the period	$ 4,294	$ 8,724	$ 12,062	$ (7,287)

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	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Dec. 31, 2018
Investment [Line Items]
Outstanding Principal Balance		$ 0		$ 0		$ 0	$ 13,000
Redemptions of common stock		2,568	$ 110,461	5,107	$ 115,071	280,500
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		0
Book Value		0		0		0	10,859
Debt Securities | Point Trust LLC | Series B Preferred Units
Investment [Line Items]
Outstanding Principal Balance		0		0		0
Book Value		$ 0		$ 0		$ 0	$ 10,859

REAL ESTATE DEBT SECURITIES (_2

REAL ESTATE DEBT SECURITIES (Schedule of Activity of Real Estate Securities) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 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 - June 30, 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 - June 30, 2019	$ 0

REAL ESTATE DEBT SECURITIES (In

REAL ESTATE DEBT SECURITIES (Interest Income) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Investment [Line Items]
Contractual interest income	$ 636	$ 419	$ 1,327	$ 1,349
Debt Securities
Investment [Line Items]
Contractual interest income	0	490	356	884
Interest accretion	0	9	4	104
Accretion of commitment fee, net of closing costs and acquisition fee	0	12	9	24
Interest income from real estate debt securities	$ 0	$ 511	$ 369	$ 1,012

REAL ESTATE HELD FOR SALE (Deta

REAL ESTATE HELD FOR SALE (Details) $ in Thousands	Jan. 11, 2019USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)property	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)property	Jan. 31, 2014unitproperty
Real Estate Properties [Line Items]
Real estate held for sale, net		$ 14,081		$ 14,081		$ 45,553
Accumulated depreciation and amortization		57,925		57,925		43,742
(Loss) gain on sale of real estate		(6)	$ 25	7,569	$ 649
Revenues
Other operating income		$ 1,509	1,479	$ 2,902	2,214
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
(Loss) gain on sale of real estate	$ 7,600
424 Bedford
Real Estate Properties [Line Items]
Number of real estate units | unit							66
Apartment Property | 424 Bedford
Real Estate Properties [Line Items]
Number of real estate properties acquired | property							1
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property		7		7
Held-for-sale
Assets and Liabilities
Real estate, cost		$ 16,799		$ 16,799		51,653
Accumulated depreciation and amortization		(2,718)		(2,718)		(6,100)
Real estate, net		14,081		14,081		45,553
Other assets		666		666		3,330
Total assets related to real estate held for sale		14,747		14,747		48,883
Notes payable, net		10,589		10,589		33,538
Other liabilities		42		42		58
Total liabilities related to real estate held for sale		$ 10,631		$ 10,631		$ 33,596
Held-for-sale | Retail Property
Real Estate Properties [Line Items]
Number of real estate properties | property		1		1
Held-for-sale | Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property		1		1
Disposed of by Sale
Revenues
Rental income		$ 575	5,768	$ 1,308	11,493
Other operating income		69	104	106	149
Total revenues		644	5,872	1,414	11,642
Expenses
Operating, maintenance, and management		177	1,796	227	3,096
Real estate taxes and insurance		47	511	28	1,001
Asset management fees to affiliate		74	472	150	935
Depreciation and amortization		58	2,176	249	5,001
Interest expense		130	1,726	303	3,340
Total expenses		$ 486	$ 6,681	$ 957	$ 13,373
Disposed of by Sale | Apartment Property
Real Estate Properties [Line Items]
Number of real estate properties disposed | property				1
Disposed of by Sale | Office Properties
Real Estate Properties [Line Items]
Number of real estate properties disposed | property						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

NOTES AND BOND PAYABLE (Schedul

NOTES AND BOND PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jan. 11, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total Notes and Bonds Payable principal outstanding	$ 672,962		$ 663,318
Net Premium/(Discount) on Notes and Bonds Payable	835		198
Deferred financing costs, net	(7,264)		(8,044)
Total notes and bonds payable, net	666,533		655,472
Notes and bond payable outstanding	672,962
424 Bedford
Debt Instrument [Line Items]
Notes and bond payable outstanding		$ 23,700
Mortgages | Richardson Portfolio Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net	$ 36,000		36,000
Interest rate, effective percentage	4.94%
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	$ 21,970		8,404
Interest rate, effective percentage	4.19%
Mortgages | Park Centre Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Mortgages | Burbank Collection Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net	$ 10,595		10,716
Interest rate, effective percentage	4.79%
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	$ 30,446		30,637
Interest rate, effective percentage	4.69%
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	$ 6,180		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	$ 217,418		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	5.04%
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	4.19%
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	3.99%
Mortgages | City Tower Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%
Mortgages | The Marq Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net	$ 53,408		50,800
Interest rate, effective percentage	3.99%
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	4.04%
Mortgages | Eight & Nine Corporate Centre Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Mortgages | Georgia 400 Center Mortgage Loan
Debt Instrument [Line Items]
Notes payable, net	$ 59,690		$ 0
Interest rate, effective percentage	3.98%
Mortgages | Georgia 400 Center Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%

NOTES AND BOND PAYABLE (Narrati

NOTES AND BOND PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Interest expense	$ 7,249	$ 7,819	$ 14,417	$ 14,410
Amortization of deferred financing costs	800	900	1,709	1,699
Interest capitalized			1,389	1,282
Interest payable	4,700		4,700		$ 5,200
Undeveloped Land
Debt Instrument [Line Items]
Interest capitalized	$ 700	$ 600	$ 1,400	$ 1,300

NOTES AND BOND PAYABLE (Sched_2

NOTES AND BOND PAYABLE (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Notes and Bonds Payable [Abstract]
July 1, 2019 through December 31, 2019	$ 41,142
2020	105,882
2021	276,717
2022	129,768
2023	114,298
Thereafter	5,155
Notes and bond payable outstanding	$ 672,962

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 (₪)	Jun. 30, 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		6 Months Ended
	Jun. 30, 2019USD ($)instrument	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)instrument	Jun. 30, 2018USD ($)	Jun. 30, 2019ILS (₪)instrument	Mar. 07, 2019USD ($)	Feb. 27, 2019	Dec. 31, 2018USD ($)instrument	Dec. 31, 2018ILS (₪)instrument	Aug. 20, 2018
Foreign currency collar
Derivative [Line Items]
Gain (loss) recognized on derivatives	$ 1,200,000	$ (2,200,000)	$ 4,200,000	$ (4,300,000)
Foreign currency transaction gain (loss)	(3,700,000)	12,300,000	(9,500,000)	13,400,000
Interest Rate Cap
Derivative [Line Items]
Notional Amount						$ 348,500,000
Unrealized gain (loss) on derivatives	$ (7,000)	$ 62,000	$ (37,000)	$ 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		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		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	1
Derivative Liability	$ (169,000)		$ (169,000)					$ (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		2
Notional Amount	$ 46,875,000		$ 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	3		3		3			2	2
Derivative Asset	$ 26,000		$ 26,000					$ 34,000
Derivative instruments not designated as hedging instruments | Interest Rate Cap | One-month LIBOR
Derivative [Line Items]
Reference Rate	3.00%		3.00%		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		$ 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%		3.50%
Derivative instruments not designated as hedging instruments | Interest Rate Cap, Effective Date 6/21/19
Derivative [Line Items]
Notional Amount	$ 51,252,000		$ 51,252,000
Maturity Date			May 22, 2023
Derivative instruments not designated as hedging instruments | Interest Rate Cap, Effective Date 6/21/19 | One-month LIBOR
Derivative [Line Items]
Reference Rate	4.00%		4.00%		4.00%

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Jun. 30, 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	455,544,000	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	217,418,000	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	452,766,000	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	213,767,000	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	458,480,000	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	$ 218,686,000	$ 255,814,000

FAIR VALUE DISCLOSURES (Sched_2

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) - Recurring Basis $ in Thousands	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	$ 65,267
Liability derivative - foreign currency collar	(169)
Interest Rate Cap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative - interest rate caps	26
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	65,267
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	(169)
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	26
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		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Payable as of	$ 98		$ 98		$ 36
Payment for administrative fees	62	$ 78	133	$ 161
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Capitalized	3,001	3,075	5,374	7,492
Payable as of	98		98		36
Advisor and Dealer Manager | Asset management fees
Related Party Transaction [Line Items]
Expensed	1,971	2,217	3,861	4,043
Payable as of	0		0		0
Advisor and Dealer Manager | Reimbursable operating expenses
Related Party Transaction [Line Items]
Expensed	83	115	172	198
Payable as of	48		48		29
Advisor and Dealer Manager | Disposition fees
Related Party Transaction [Line Items]
Expensed	0	0	394	0
Payable as of	0		0		0
Advisor and Dealer Manager | Acquisition fees on real estate
Related Party Transaction [Line Items]
Capitalized	897	734	897	3,094
Payable as of	0		0		0
Advisor and Dealer Manager | Acquisition fee on investment in unconsolidated joint venture
Related Party Transaction [Line Items]
Capitalized	50	0	50	0
Payable as of	50		50		0
Advisor and Dealer Manager | Acquisition fees on real estate equity securities
Related Party Transaction [Line Items]
Capitalized	0	$ 9	0	$ 157
Payable as of	$ 0		$ 0		$ 7

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) $ / shares in Units, $ in Millions	Jun. 27, 2019USD ($)	Mar. 20, 2019$ / sharesshares	Nov. 30, 2018property	Nov. 08, 2017property	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)
Point Trust LLC
Related Party Transaction [Line Items]
Investment acquired (in shares) | shares		210,000
Investment acquired (in dollars per shares) | $ / shares		$ 25
Pacific Oak Opportunity Zone Fund I
Related Party Transaction [Line Items]
Acquisition fee, percent of purchase price fee	1.50%
Investments	$ 5				$ 5.1
Investment, purchase price, benchmark	$ 25
Acquisition fee of purchase price fee in excess of benchmark purchase price	1.00%
Asset management fee, percent	0.25%
Financing fee as percent of original principal amount of any indebtedness	0.50%
KBS Capital Advisors LLC | Property Insurance Rebate
Related Party Transaction [Line Items]
Due from related parties						$ 0.1
SREIT
Related Party Transaction [Line Items]
Number of real estate properties disposed | property				11
SREIT | Office/Flex/Industrial Buildings
Related Party Transaction [Line Items]
Number of real estate properties disposed | property			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	Jun. 30, 2019USD ($)property	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 51,956	$ 44,869
NIP Joint Venture
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	2
Investment Balance	$ 1,225	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	$ 42,689	43,068
Battery Point Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investment Balance	2,992	0
Pacific Oak Opportunity Zone Fund I
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 5,050	$ 0

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments - Narrative) (Details)	May 18, 2012USD ($)	Jun. 30, 2019USD ($)ft²	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)ft²	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)	Jun. 27, 2019USD ($)unit	May 02, 2014ft²
Schedule of Equity Method Investments [Line Items]
Contributions to joint venture				$ 5,000,000	$ 1,320,000
Income from unconsolidated joint venture		$ 0	$ 131,000	$ 0	185,000
Rentable square feet | ft²		3,400,000		3,400,000
Investments in unconsolidated joint ventures		$ 51,956,000		$ 51,956,000		$ 44,869,000
Equity in (income) loss of unconsolidated joint ventures, net		215,000	2,373,000	(7,096,000)	4,751,000
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		300,000	900,000	300,000	1,300,000
Income from unconsolidated joint venture			100,000		200,000
Return of capital		300,000	800,000		1,100,000
Investments in unconsolidated joint ventures		$ 1,225,000		$ 1,225,000		1,476,000
NIP Joint Venture | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership percentage		5.00%		5.00%
110 William Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership percentage		60.00%		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		0		325,000
Capitalized acquisition costs						1,400,000
Equity in (income) loss of unconsolidated joint ventures, net			$ 1,500,000			3,100,000
Equity in income of unconsolidated joint venture				7,500,000
Company’s equity in income (loss) of unconsolidated joint venture				7,800,000
Loss from equity method investments		0		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%
Pacific Oak Opportunity Zone Fund I
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures		5,050,000		5,050,000		$ 0
Investments		5,100,000		$ 5,100,000			$ 5,000,000
Number of units in real estate property | unit							22
Acquisition related costs		$ 100,000

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summarized Financial Information) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	$ 731,881,000		$ 731,881,000		$ 635,567,000
Total assets	1,017,453,000		1,017,453,000		1,004,989,000
Other liabilities	18,043,000		18,043,000		21,006,000
Total liabilities and equity	1,017,453,000		1,017,453,000		1,004,989,000
Income Statement [Abstract]
Revenues	21,689,000	$ 25,290,000	43,600,000	$ 44,925,000
Real estate taxes and insurance	3,301,000	3,435,000	6,279,000	5,773,000
Depreciation and amortization	8,357,000	9,042,000	16,037,000	16,307,000
Interest expense	7,249,000	7,819,000	14,417,000	14,410,000
Total expenses	32,193,000	22,223,000	62,530,000	48,779,000
Net (loss) income attributable to common stockholders	(6,249,000)	10,036,000	10,532,000	(13,645,000)
Operating, maintenance, and management
Income Statement [Abstract]
Expenses	6,826,000	7,571,000	13,098,000	13,058,000
110 William Joint Venture
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	241,767,000		241,767,000		235,613,000
Other assets	32,485,000		32,485,000		37,337,000
Total assets	274,252,000		274,252,000		272,950,000
Notes payable, net	284,818,000		284,818,000		267,311,000
Other liabilities	8,624,000		8,624,000		7,485,000
Partners’ deficit	(19,190,000)		(19,190,000)		(1,846,000)
Total liabilities and equity	274,252,000		274,252,000		272,950,000
Income Statement [Abstract]
Revenues	9,442,000	9,951,000	17,701,000	19,760,000
Real estate taxes and insurance	1,725,000	1,655,000	3,430,000	3,290,000
Depreciation and amortization	2,839,000	4,126,000	5,503,000	8,345,000
Interest expense	4,124,000	4,418,000	8,732,000	8,535,000
Total expenses	10,968,000	12,495,000	22,117,000	24,933,000
Total other income	39,000	24,000	71,000	38,000
Net (loss) income attributable to common stockholders	(1,487,000)	(2,520,000)	(4,345,000)	(5,135,000)
Company’s share of net loss	(892,000)	(1,512,000)	(2,607,000)	(3,081,000)
Company’s equity in income (loss) of unconsolidated joint venture			7,800,000
Loss from equity method investments	0		300,000
110 William Joint Venture | Operating, maintenance, and management
Income Statement [Abstract]
Expenses	2,280,000	2,296,000	4,452,000	4,763,000
353 Sacramento Joint Venture
Balance Sheet Related Disclosures [Abstract]
Real estate assets, net of accumulated depreciation and amortization	179,347,000		179,347,000		180,852,000
Other assets	12,573,000		12,573,000		13,123,000
Total assets	191,920,000		191,920,000		193,975,000
Notes payable, net	109,994,000		109,994,000		105,593,000
Other liabilities	5,223,000		5,223,000		10,863,000
Partners’ deficit	76,703,000		76,703,000		77,519,000
Total liabilities and equity	191,920,000		191,920,000		$ 193,975,000
Income Statement [Abstract]
Revenues	4,187,000	2,627,000	8,345,000	5,296,000
Real estate taxes and insurance	694,000	605,000	1,395,000	1,217,000
Depreciation and amortization	1,563,000	1,387,000	3,131,000	2,837,000
Interest expense	1,447,000	1,348,000	2,866,000	2,587,000
Total expenses	4,643,000	4,231,000	9,161,000	8,410,000
Net (loss) income attributable to common stockholders	(456,000)	(1,604,000)	(816,000)	(3,114,000)
Company’s equity in income (loss) of unconsolidated joint venture	(215,000)	(851,000)	(379,000)	(1,649,000)
353 Sacramento Joint Venture | Operating, maintenance, and management
Income Statement [Abstract]
Expenses	$ 939,000	$ 891,000	$ 1,769,000	$ 1,769,000

INVESTMENT IN UNCONSOLIDATED _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (110 William Street Refinancing) (Details)	Mar. 07, 2019USD ($)extension	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Face amount		$ 455,544,000	$ 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		6 Months Ended
	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	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%		55.00%
Distributions | $	$ 0	$ 1,300,000	$ 0	$ 1,300,000
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	Jun. 30, 2019	Jun. 30, 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	$ 3
Dividends, annual rate	7.50%
Distributions		$ 0.1	$ 0.1
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	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $1,389 and $1,282 for the six months ended June 30, 2019 and 2018, respectively	$ 13,156	$ 12,247
Interest capitalized	1,389	1,282
Supplemental Disclosure of Significant Noncash Transactions:
Accrued improvements to real estate	5,286	4,982
Mortgage loan assumed by buyer in connection with sale of real estate	23,663	0
Redeemable common stock payable	5,463	421
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	564	964
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	Jun. 30, 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 (Distribution

SUBSEQUENT EVENTS (Distributions) (Details) - $ / shares	Aug. 08, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)		$ 0.0086	$ 0.015975	$ 0.0172	$ 0.03195
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)	$ 0.00860000

SUBSEQUENT EVENTS (Burbank Coll

SUBSEQUENT EVENTS (Burbank Collection) (Details) - USD ($) $ in Thousands	Jul. 19, 2019	Jun. 30, 2019	Dec. 31, 2018
Subsequent Event [Line Items]
Accumulated depreciation and amortization		$ 57,925	$ 43,742
Subsequent Event | Burbank Collection Mortgage Loan
Subsequent Event [Line Items]
Extinguishment of debt	$ 10,600
Subsequent Event | Burbank Collection
Subsequent Event [Line Items]
Sale price	25,900
Real estate investments, net	14,700
Accumulated depreciation and amortization	$ 2,700