Pacific Oak Strategic Opportunity REIT (PCOK) 10-K 26 Mar 20 2019 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2019	Mar. 23, 2020	Jun. 30, 2019
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2019
Document Transition Report	false
Entity File Number	000-54382
Entity Registrant Name	PACIFIC OAK STRATEGIC OPPORTUNITY REIT, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	26-3842535
Entity Address, Address Line One	11150 Santa Monica Blvd.
Entity Address, Address Line Two	Suite 400
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90025
City Area Code	424
Local Phone Number	208-8100
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		65,847,283
Entity Central Index Key	0001452936
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 0

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Assets
Real estate held for investment, net	$ 759,479	$ 552,974
Real estate held for sale, net	0	128,146
Real estate equity securities	81,439	73,876
Real estate debt securities, net	0	10,859
Total real estate and real estate-related investments, net	840,918	765,855
Cash and cash equivalents	76,492	152,385
Restricted cash	12,002	10,342
Investments in unconsolidated entities	78,276	44,869
Rents and other receivables, net	16,593	10,876
Above-market leases, net	2,973	3,377
Prepaid Expense and Other Assets	13,988	11,782
Assets related to real estate held for sale, net	0	5,503
Total assets	1,041,242	1,004,989
Notes and bonds payable, net
Notes and bonds payable, net	673,663	569,048
Notes payable related to real estate held for sale, net	0	86,424
Total notes and bonds payable, net	673,663	655,472
Accounts payable and accrued liabilities	21,329	19,506
Due to affiliate	1,635	36
Below-market leases, net	3,180	3,528
Liabilities related to real estate held for sale, net	0	1,477
Other liabilities	19,801	21,006
Redeemable common stock payable	829	10,000
Restricted stock payable	16,320	0
Total liabilities	736,757	711,025
Commitments and contingencies (Note 18)
Mezzanine equity
Restricted stock	12,089	0
Noncontrolling Series A Cumulative Convertible Redeemable Preferred Stock	15,008	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, 65,866,765 and 66,822,861 shares issued and outstanding as of December 31, 2019 and 2018, respectively	659	668
Additional paid-in capital	553,170	547,770
Cumulative distributions and net income	(277,196)	(256,984)
Total Pacific Oak Strategic Opportunity REIT, Inc. stockholders’ equity	276,633	291,454
Noncontrolling interests	755	2,510
Total equity	277,388	293,964
Total liabilities, mezzanine equity and equity	$ 1,041,242	$ 1,004,989

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	65,866,765	66,822,861
Common stock, shares outstanding (in shares)	65,866,765	66,822,861

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues:
Rental income	$ 81,363,000	$ 82,746,000	$ 129,265,000
Other operating income	5,327,000	5,021,000	7,136,000
Interest income from real estate debt securities	369,000	2,018,000	1,782,000
Dividend income from real estate equity securities	6,099,000	6,002,000	2,531,000
Total revenues	93,158,000	95,787,000	140,714,000
Expenses:
Operating, maintenance, and management	29,294,000	29,110,000	42,611,000
Real estate taxes and insurance	12,631,000	11,762,000	17,404,000
Asset management fees to affiliate	8,158,000	8,525,000	10,686,000
General and administrative expenses	7,456,000	7,784,000	5,983,000
Foreign currency transaction loss (gain), net	12,498,000	(10,141,000)	15,298,000
Depreciation and amortization	34,004,000	35,006,000	53,446,000
Interest expense	28,849,000	31,054,000	37,149,000
Other-than-temporary impairment of debt securities	0	2,500,000	0
Total expenses	132,890,000	115,600,000	182,577,000
Other income (loss):
Income from NIP	0	428,000	2,073,000
Equity in income (loss) of unconsolidated entities	6,621,000	(9,830,000)	(6,037,000)
Casualty-related loss	(506,000)	0	0
Other interest income	2,120,000	1,884,000	1,105,000
Gain (loss) on real estate equity securities	20,379,000	(19,010,000)	0
Gain on sale of real estate	34,077,000	80,594,000	255,935,000
Loss on extinguishment of debt	(1,106,000)	(493,000)	(478,000)
Transaction and related costs	(4,462,000)	0	0
Subordinated performance fee due upon termination to affiliate	(32,640,000)	0	0
Total other income, net	24,483,000	53,573,000	252,598,000
Net (loss) income before income taxes	(15,249,000)	33,760,000	210,735,000
Income tax benefit (provision)	68,000	(436,000)	(155,000)
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest, Total	(15,181,000)	33,324,000	210,580,000
Net (income) loss attributable to noncontrolling interests	(2,101,000)	222,000	64,000
Net (loss) income attributable to common stockholders	$ (17,282,000)	$ 33,546,000	$ 210,644,000
Net (loss) income per common share, basic and diluted (in dollars per share)	$ (0.26)	$ 0.57	$ 3.77
Weighted-average number of common shares outstanding, basic and diluted (in shares)	66,443,585	58,738,732	55,829,708

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (15,181)	$ 33,324	$ 210,580
Other comprehensive income:
Unrealized gain on real estate securities	0	0	25,146
Total other comprehensive income	0	0	25,146
Total comprehensive (loss) income	(15,181)	33,324	235,726
Total comprehensive (income) loss attributable to noncontrolling interests	(2,101)	222	64
Total comprehensive (loss) income attributable to common stockholders	$ (17,282)	$ 33,546	$ 235,790

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Cumulative Distributions and Net Income	Accumulated Other Comprehensive Income	Total Stockholders’ Equity	Noncontrolling Interests
Balance (in shares) at Dec. 31, 2016		56,775,767
Balance at Dec. 31, 2016	$ 295,550	$ 568	$ 455,373	$ (162,289)	$ 0	$ 293,652	$ 1,898
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	210,580			210,644		210,644	(64)
Other comprehensive income	25,146				25,146	25,146
Issuance of common stock (in shares)		585,192
Issuance of common stock	8,666	$ 6	8,660			8,666
Transfers to redeemable common stock	(498)		(498)			(498)
Redemptions of common stock (in shares)		(5,307,142)
Redemptions of common stock	(74,780)	$ (53)	(74,727)			(74,780)
Distributions declared	(203,809)			(203,809)		(203,809)
Other offering costs	(8)		(8)			(8)
Noncontrolling interest contribution	158					0	158
Distributions to noncontrolling interests	(22)					0	(22)
Balance (in shares) at Dec. 31, 2017		52,053,817
Balance at Dec. 31, 2017	260,983	$ 521	388,800	(155,454)	25,146	259,013	1,970
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect adjustments to retained earnings	2,472			27,618	(25,146)	2,472
Net income (loss)	33,324			33,546		33,546	(222)
Other comprehensive income	0
Issuance of common stock (in shares)		123,264
Issuance of common stock	1,418	$ 1	1,417			1,418
Stock distribution issued (in shares)		25,976,746
Stock distribution issued	278,210	$ 259	277,951			278,210
Transfers from redeemable common stock	3,113		3,113			3,113
Redemptions of common stock (in shares)		(11,330,966)
Redemptions of common stock	(123,613)	$ (113)	(123,500)			(123,613)
Distributions declared	(162,694)			(162,694)		(162,694)
Other offering costs	(11)		(11)			(11)
Noncontrolling interest contribution	$ 762					0	762
Balance (in shares) at Dec. 31, 2018	66,822,861	66,822,861
Balance at Dec. 31, 2018	$ 293,964	$ 668	547,770	(256,984)	0	291,454	2,510
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	(15,181)			(17,282)		(17,282)	2,101
Other comprehensive income	0
Issuance of common stock (in shares)		84,248
Issuance of common stock	835	$ 1	834			835
Transfers from redeemable common stock	9,171		9,171			9,171
Redemptions of common stock (in shares)		(1,040,344)
Redemptions of common stock	(10,028)	$ (10)	(10,018)			(10,028)
Distributions declared	(1,721)			(1,721)		(1,721)
Other offering costs	(27)		(27)			(27)
Restricted Stock	5,440		5,440			5,440
Adjustments to redemption value of mezzanine equity restricted stock	(1,209)			(1,209)		(1,209)
Noncontrolling interest contribution	13					0	13
Distributions to noncontrolling interests	$ (3,869)					0	(3,869)
Balance (in shares) at Dec. 31, 2019	65,866,765	65,866,765
Balance at Dec. 31, 2019	$ 277,388	$ 659	$ 553,170	$ (277,196)	$ 0	$ 276,633	$ 755

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Cash Flows from Operating Activities:
Net (loss) income	$ (15,181,000)	$ 33,324,000	$ 210,580,000
Adjustments to reconcile net (loss) income to net cash (used in) provided by operating activities:
Loss due to property damages	0	964,000	668,000
Casualty-related loss	506,000	0	0
Equity in (income) loss of unconsolidated entities	(6,621,000)	9,830,000	6,037,000
Depreciation and amortization	34,004,000	35,006,000	53,446,000
Other-than-temporary impairment of debt securities	0	2,500,000	0
(Gain) loss on real estate equity securities	(20,379,000)	19,010,000	0
Gain on real estate sale	(34,077,000)	(80,594,000)	(255,935,000)
Loss on extinguishment of debt	1,106,000	493,000	478,000
Subordinated performance fee due upon termination	32,640,000	0	0
Unrealized loss on interest rate caps	50,000	142,000	105,000
Deferred rent	(4,078,000)	(4,736,000)	(2,416,000)
Bad debt expense	0	161,000	724,000
Amortization of above- and below-market leases, net	(1,091,000)	(1,152,000)	(2,575,000)
Amortization of deferred financing costs	3,606,000	3,640,000	4,363,000
Interest accretion on real estate debt securities	(13,000)	(108,000)	(565,000)
Net amortization of (premium) and discount on bond and notes payable	(99,000)	61,000	49,000
Foreign currency transaction loss (gain), net	12,498,000	(10,141,000)	15,298,000
Changes in assets and liabilities:
Rents and other receivables	(1,548,000)	(1,801,000)	(1,810,000)
Prepaid expenses and other assets	(5,137,000)	(7,375,000)	(5,995,000)
Accounts payable and accrued liabilities	(2,334,000)	3,387,000	(4,270,000)
Due to affiliates	1,606,000	10,000	(29,000)
Other liabilities	386,000	(478,000)	(4,721,000)
Net cash (used in) provided by operating activities	(4,156,000)	2,143,000	13,432,000
Cash Flows from Investing Activities:
Acquisitions of real estate	90,266,000	312,348,000	165,465,000
Cash paid to acquire PORT, net of cash acquired	(46,864,000)	0	0
Improvements to real estate	(32,472,000)	(32,172,000)	(41,224,000)
Proceeds from sales of real estate, net	141,548,000	250,576,000	872,091,000
Reimbursement of construction costs	0	1,636,000	0
Insurance proceeds received for property damages	438,000	0	744,000
Purchase of interest rate caps	(28,000)	(163,000)	(107,000)
Purchase of foreign currency option	0	0	(3,434,000)
Proceeds from termination of foreign currency collars	0	0	6,557,000
Contributions to unconsolidated entities	(31,845,000)	(1,320,000)	0
Distribution of capital from unconsolidated entities	8,051,000	2,198,000	59,800,000
Investment in real estate equity securities	(15,224,000)	(30,609,000)	(43,308,000)
Proceeds from the sale of real estate equity securities	28,033,000	27,786,000	0
Investment in real estate debt securities, net	0	0	(12,514,000)
Proceeds from principal repayment on real estate debt securities	7,750,000	4,500,000	0
Proceeds for future development obligations	0	2,113,000	1,367,000
Funding of development obligations	(134,000)	(1,258,000)	(1,184,000)
Net cash (used in) provided by investing activities	(31,013,000)	(89,061,000)	673,323,000
Cash Flows from Financing Activities:
Proceeds from notes and bonds payable	84,268,000	223,425,000	187,204,000
Principal payments on notes and bonds payable	(126,603,000)	(152,516,000)	(477,089,000)
Payments of deferred financing costs	(1,123,000)	(3,391,000)	(2,396,000)
Payments to redeem common stock	(10,028,000)	(123,613,000)	(74,780,000)
Payment of prepaid other offering costs	(157,000)	(562,000)	(480,000)
Distributions paid	(886,000)	(70,980,000)	(7,229,000)
Noncontrolling interests contributions	13,000	762,000	158,000
Distributions to noncontrolling interests	(3,869,000)	0	(22,000)
Proceeds for noncontrolling preferred stock, net	15,008,000	0	0
Other financing proceeds, net	1,822,000	0	0
Net cash used in financing activities	(41,555,000)	(126,875,000)	(374,634,000)
Effect of exchange rate changes on cash, cash equivalents and restricted cash	2,491,000	(662,000)	611,000
Net (decrease) increase in cash, cash equivalents and restricted cash	(74,233,000)	(214,455,000)	312,732,000
Cash, cash equivalents and restricted cash, beginning of period	162,727,000	377,182,000	64,450,000
Cash, cash equivalents and restricted cash, end of period	$ 88,494,000	$ 162,727,000	$ 377,182,000

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION Pacific Oak Strategic Opportunity REIT, Inc. (formerly known as 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 Pacific Oak Strategic Opportunity (BVI) Holdings, Ltd. (“Pacific Oak 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, Pacific Oak Strategic Opportunity BVI issued one certificate containing 10,000 common shares with no par value to Pacific Oak 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. Pacific Oak 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 was externally managed by KBS Capital Advisors LLC (“KBS Capital Advisors”), an affiliate of the Company, pursuant to an advisory agreement the Company renewed with KBS Capital Advisors on October 7, 2019. KBS Capital Advisors conducted the Company’s operations and managed its portfolio of real estate and other real estate-related investments. On October 31, 2019, KBS Capital Advisors ceased to serve as the Company’s advisor or have any advisory responsibility to the Company immediately following the filing of the Company’s Quarterly Report on Form 10-Q for the period ending September 30, 2019 (filed November 8, 2019) with the Securities and Exchange Commission (the “SEC”). On November 1, 2019, the Company entered into an advisory agreement with Pacific Oak Capital Advisors, LLC (the “Advisor”). The new advisory agreement is effective as of November 1, 2019 through November 1, 2020; however the Company may terminate the advisory agreement without cause or penalty upon providing 30 days’ written notice and the Advisor may terminate the new advisory agreement without cause or penalty upon providing 90 days’ written notice. The terms of the advisory agreement are consistent with those of the advisory agreement that was previously in effect with KBS Capital Advisors, except as discussed in Note 11. On January 8, 2009, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to offer a minimum of 250,000 shares and a maximum of 140,000,000 shares of common stock for sale to the public (the “Offering”), of which 100,000,000 shares were registered in a primary offering and 40,000,000 shares were registered to be sold under the Company’s dividend reinvestment plan. The SEC declared the Company’s registration statement effective on November 20, 2009. The Company ceased offering shares of common stock in its primary offering on November 14, 2012 and continues to offer shares under its dividend reinvestment plan. The Company sold 56,584,976 shares of common stock in its primary offering for gross offering proceeds of $561.7 million. As of December 31, 2019, the Company had sold 6,827,324 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $76.3 million. Also, as of December 31, 2019, the Company had redeemed 23,819,074 shares for $285.4 million. As of December 31, 2019, the Company had issued 25,976,746 shares of common stock in connection with special dividends. Additionally, on December 29, 2011 and October 23, 2012, the Company issued 220,994 shares and 55,249 shares of common stock, respectively, for $2.0 million and $0.5 million, respectively, in private transactions exempt from the registration requirements pursuant to Section 4(2) of the Securities Act of 1933. On March 2, 2016, Pacific Oak 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, Pacific Oak Strategic Opportunity BVI commenced the institutional tender of the Debentures and accepted application for 842.5 million Israeli new Shekels. On March 7, 2016, Pacific Oak Strategic Opportunity BVI commenced the public tender of the Debentures and accepted 127.7 million Israeli new Shekels. In the aggregate, Pacific Oak 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%. Pacific Oak 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 Pacific Oak 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 Pacific Oak 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 Pacific Oak Strategic Opportunity BVI. On February 16, 2020, Pacific Oak Strategic Opportunity BVI issued 254.1 million Israeli new Shekels (approximately $74.1 million as of February 16, 2020) of Series B debentures (the “Series B Debentures”) to Israeli investors pursuant to a public offering registered with the Israel Securities Authority. The Series B Debentures will bear interest at the rate of 3.93% per year. The Series B Debentures have principal installment payments equal to 33.33% of the face amount of the Series B Debentures on January 31st of each year from 2024 to 2026. As of December 31, 2019, the Company consolidated six office properties, one office portfolio consisting of four office buildings and 14 acres of undeveloped land, one apartment property and three investments in undeveloped land with approximately 1,000 developable acres, one residential home portfolio consisting of 993 single-family homes 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	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership, Pacific Oak Strategic Opportunity BVI and their direct and indirect wholly owned subsidiaries, and 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. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. Use of Estimates The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Reclassifications Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period. During the year ended December 31, 2019, the Company disposed of one office building, one retail property and one apartment property. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Upon the adoption of the lease accounting standards of Topic 842 on January 1, 2019, 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 years ended December 31, 2018 and 2017, the Company reclassified $2.2 million and $3.1 million of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes. Revenue Recognition 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 determined to be 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 revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units and single-family homes 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 variable lease payments and would recognize rental income at the lesser of (1) on a straight-line basis or (2) cash 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. Sale of Real Estate Prior to January 1, 2018, gains on real estate sold were recognized using the full accrual method at closing when collectibility of the sales price was reasonably assured, the Company was not obligated to perform additional activities that may be considered significant, the initial investment from the buyer was sufficient and other profit recognition criteria had been satisfied. Gain on sales of real estate may have been deferred in whole or in part until the requirements for gain recognition had been met. Effective January 1, 2018, the Company adopted the guidance of ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”), which applies to sales or transfers to noncustomers of nonfinancial assets or in substance nonfinancial assets that do not meet the definition of a business. Generally, the Company’s sales of real estate would be considered a sale of a nonfinancial asset as defined by ASC 610-20. ASC 610-20 refers to the revenue recognition standard (Topic 606). Under ASC 610-20, if the Company determines it does not have a controlling financial interest in the entity that holds the asset and the arrangement meets the criteria to be accounted for as a contract, the Company would derecognize the asset and recognize a gain or loss on the sale of the real estate when control of the underlying asset transfers to the buyer. As a result of the adoption of ASC 610-20 on January 1, 2018, the Company recorded a cumulative effect adjustment to increase retained earnings by $2.5 million to recognize the deferred gain from the sale of 102 developable acres at Park Highlands that closed on May 1, 2017, as control of the sold acres had transferred to the buyers at closing. As of December 31, 2018 and 2019, the Company had recorded contract liabilities of $3.1 million, respectively, 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. Real Estate Debt Securities Interest income on the Company’s real estate debt securities is recognized on an accrual basis over the life of the investment using the interest method. Direct origination or acquisition fees and costs, as well as acquisition premiums or discounts, are amortized over the term of the securities as an adjustment to interest income. Income is recognized at an interest rate equivalent to the estimated yield on the real estate debt security, as calculated using the carrying value of the real estate debt security and the expected cash flows. Changes in estimated cash flows are recognized through an adjustment to the yield on the real estate debt security on a prospective basis. Projecting cash flows for these types of real estate debt securities requires a significant amount of assumptions and judgment, which may have a significant impact on the amount and timing of revenue recognized on these investments. The Company places real estate debt securities on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a real estate debt security is placed on nonaccrual status, the Company reserves for any unpaid accrued interest and generally does not recognize subsequent interest income until cash is received, or the real estate debt security returns to accrual status. The Company will resume the accrual of interest if it determines that the collection of interest, according to the contractual terms of the real estate debt security, is probable. Real Estate Equity Securities Dividend income from real estate equity securities is recognized on an accrual basis based on eligible shares as of the ex-dividend date. Cash and Cash Equivalents The Company recognizes interest income on its cash and cash equivalents as it is earned and records such amounts as other interest income. Real Estate Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25-40 years Building improvements 10-40 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods Real Estate Acquisition Valuation The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination or an asset acquisition. If substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or group of similar identifiable assets, then the set is not a business. For purposes of this test, land and buildings can be combined along with the intangible assets for any in-place leases and accordingly, most acquisitions of investment properties would not meet the definition of a business and would be accounted for as an asset acquisition. To be considered a business, a set must include an input and a substantive process that together significantly contributes to the ability to create an output. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. For asset acquisitions, the cost of the acquisition is allocated to individual assets and liabilities on a relative fair value basis. Acquisition costs associated with business combinations are expensed as incurred. Acquisition costs associated with asset acquisitions are capitalized. Intangible assets include the value of in-place leases, which represents the estimated value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. Acquired in-place lease value will be amortized to expense over the average remaining terms of the respective in-place leases, including any below-market renewal periods. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods. The Company records the fair value of debt assumed in an acquisition 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. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment. Direct investments in undeveloped land or properties without leases in place at the time of acquisition are accounted for as an asset acquisition. Acquisition fees and expenses are capitalized into the cost basis of an asset acquisition. Additionally, during the time in which the Company is incurring costs necessary to bring these investments to their intended use, certain costs such as legal fees, real estate taxes and insurance and financing costs are also capitalized. Impairment of Real Estate and Related Intangible Assets and Liabilities The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. The Company did not record any impairment losses on its real estate and related intangible assets and liabilities during the years ended December 31, 2019, 2018 and 2017. Projecting future cash flows involves estimating expected future operating income and expenses related to the real estate and its related intangible assets and liabilities as well as market and other trends. Using inappropriate assumptions to estimate cash flows could result in incorrect fair values of the real estate and its related intangible assets and liabilities and could result in the overstatement of the carrying values of the Company’s real estate and related intangible assets and liabilities and an overstatement of its net income. Insurance Proceeds for Property Damages The Company maintains an insurance policy that provides coverage for property damages and business interruption. Losses due to physical damages are recognized during the accounting period in which they occur, while the amount of monetary assets to be received from the insurance policy is recognized when receipt of insurance recoveries is probable. Losses, which are reduced by the related probable insurance recoveries, are recorded as operating, maintenance and management expenses on the accompanying consolidated statements of operations. Anticipated proceeds in excess of recognized losses would be considered a gain contingency and recognized when the contingency related to the insurance claim has been resolved. Anticipated recoveries for lost rental revenue due to property damages are also considered to be a gain contingency and recognized when the contingency related to the insurance claim has been resolved. Real Estate Held for Sale and Discontinued Operations The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results and related gains on sale of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations. Real Estate Debt Securities The Company classifies its investment in real estate debt securities as held to maturity as the Company has the intent and ability to hold this investment until maturity. The Company’s real estate debt securities are recorded at amortized cost, net of other-than-temporary impairment (if any), and evaluated for other-than-temporary impairment at each balance sheet date. The amortized cost of a real estate debt security is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the real estate debt security. The amount of other-than-temporary impairment, if any, will be measured by comparing the amortized cost of the real estate debt security to the present value of the expected cash flows discounted at the real estate debt security’s effective interest rate, the real estate debt security’s observable market price, or the fair value of the collateral if the real estate debt security is collateral dependent and collection of principal and interest is not assured. If a real estate debt security is deemed to be other-than-temporarily impaired, the Company will record an other-than-temporary impairment on the consolidated statements of operations. During the year ended December 31, 2019, the Company converted all debt securities to Preferred Units and during the year ended December 31, 2018, the Company recorded an other-than-temporary impairment loss of $2.5 million related to its investment in real estate debt securities. See note 6, “Real Estate Debt Securities” for a further discussion on the other-than-temporary impairment loss recorded by the Company. The Company did not record any other-than-temporary impairment losses related to its real estate debt securities during the years ended December 31, 2019 and 2017. Real Estate Equity Securities The Company determines the appropriate classification for real estate equity securities at acquisition (on the trade date) and reevaluates such designation as of each balance sheet date. As of December 31, 2019 and 2018, the Company classified its investments in real estate equity securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on quoted market prices for the security, net of any discounts for restrictions on the sale of the security. Any discount for lack of marketability is estimated using an option pricing model. Transaction costs that are directly attributable to the acquisition of real estate equity securities are capitalized to its cost basis. Prior to the Company’s adoption of ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”) on January 1, 2018, the Company classified its investments in real estate equity securities as available-for-sale and unrealized gains and losses were reported in accumulated other comprehensive income (loss). Upon the sale of a security, the previously recognized unrealized gain (loss) would be reversed out of accumulated other comprehensive income (loss) and the actual realized gain (loss) recognized in earnings. Effective January 1, 2018, unrealized gains and losses on real estate equity securities are recognized in earnings. Upon adoption of ASU No. 2016-01 on January 1, 2018, the Company recorded a $25.1 million cumulative effect adjustment to retained earnings related to the unrealized gain on real estate equity securities previously reported in accumulated other comprehensive income prior to January 1, 2018. Investments in Unconsolidated Entities Equity Method The Company accounts for investments in unconsolidated joint venture entities in which the Company may exercise significant influence over, but does not control, using the equity method of accounting. Under the equity method, the investment is initially recorded at cost and subsequently adjusted to reflect additional contributions or distributions and the Company’s proportionate share of equity in the joint venture’s income (loss). The Company recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity in income (loss) of unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The Company did not record any impairment losses related to its unconsolidated real estate joint ventures accounted for under the equity method during the years ended December 31, 2019, 2018 and 2017. Equity Investment Without Readily Determinable Value Prior to the adoption of ASU No. 2016-01 on January 1, 2018, the Company accounted for investments in unconsolidated joint venture entities in which the Company did not have the ability to exercise significant influence and had virtually no influence over partnership operating and financial policies using the cost method of accounting. Under the cost method, income distributions from the partnership were recognized in other income. Distributions that exceed the Company’s share of earnings were applied to reduce the carrying value of the Company’s investment and any capital contributions increased the carrying value of the Company’s investment. On a quarterly basis, the Company evaluated its cost method investment in an unconsolidated joint venture for other-than-temporary impairments. The fair value of a cost method investment was not estimated if there were no identified events or changes in circumstances that indicated a significant adverse effect on the fair value of the investment. The Company did not record any impairment losses related to its unconsolidated real estate joint ventures accounted for under the cost method during the year ended December 31, 2017. In accordance with ASU No. 2016-01, 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 NIP Joint Venture and Battery Point Series A-3 Preferred Units in accordance with the above guidance and applying it prospectively. As of December 31, 2019 and 2018, the Company recorded its investment in the NIP Joint Venture at a cost basis of $1.2 million and $1.5 million, respectively. Distributions of income from the NIP Joint Venture are recognized in other income. Distributions that exceed the Company’s share of earnings are applied to reduce the carrying value of the Company’s investment and any capital contributions would increase the carrying value of the Company’s investment. As of December 31, 2019, the Company recorded its investments in Battery Point Series A-3 Preferred Units at the cost basis of $14.0 million. As of December 31, 2019, the Company did not identify any indicators of impairment related these investments. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2019 and 2018. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2019. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts. Restricted Cash Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for security deposits, property taxes, insurance, debt service obligations and capital improvements and replacements. Rents and Other Receivables Prior to January 1, 2019, the Company periodically evaluated the collectibility of amounts due from tenants and maintained an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintained an allowance for deferred rent receivable that arose from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates. Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that

REAL ESTATE HELD FOR INVESTMENT

REAL ESTATE HELD FOR INVESTMENT	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
REAL ESTATE HELD FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of December 31, 2019, the Company owned six office properties, one office portfolio consisting of four office buildings and 14 acres of undeveloped land encompassing, in the aggregate, approximately 3.0 million rentable square feet. As of December 31, 2019, these properties were 79% occupied. In addition, the Company owned one residential home portfolio consisting of 993 single-family homes and encompassing approximately 1.4 million rental square feet and one apartment property containing 317 units and encompassing approximately 0.3 million rentable square feet, which was 89% and 85% occupied, respectively as of December 31, 2019. 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 December 31, 2019 and 2018, respectively (in thousands): December 31, 2019 December 31, 2018 Land $ 175,317 $ 141,950 Buildings and improvements 618,974 426,604 Tenant origination and absorption costs 30,569 22,472 Total real estate, cost 824,860 591,026 Accumulated depreciation and amortization (65,381) (38,052) Total real estate, net $ 759,479 $ 552,974 The following table provides summary information regarding the Company’s real estate held for investment as of December 31, 2019 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building Tenant Origination and Absorption Total Real Estate, Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office $ 1,037 $ 12,258 $ — $ 13,295 $ (3,565) $ 9,730 90.0% Palisades Central II 11/23/2011 Richardson TX Office 810 21,006 — 21,816 (5,486) 16,330 90.0% Greenway I 11/23/2011 Richardson TX Office 561 2,147 — 2,708 (901) 1,807 90.0% Greenway III 11/23/2011 Richardson TX Office 702 3,765 — 4,467 (1,321) 3,146 90.0% Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0% Total Richardson Portfolio 6,244 39,176 — 45,420 (11,273) 34,147 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 34,167 — — 34,167 34,167 (1) Park Centre 03/28/2013 Austin TX Office 3,251 34,452 — 37,703 (6,334) 31,369 100.0% 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 39,128 — 47,420 (7,897) 39,523 100.0% Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 27,078 — — 27,078 — 27,078 (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 68,106 4,830 95,526 (11,753) 83,773 100.0% The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 81,065 4,179 95,631 (7,119) 88,512 100.0% City Tower 03/06/2018 Orange CA Office 13,930 135,390 7,937 157,257 (12,823) 144,434 100.0% Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 57,595 4,572 79,568 (4,356) 75,212 100.0% Georgia 400 Center 05/23/2019 Alpharetta GA Office 11,431 72,529 7,574 91,534 (3,053) 88,481 100.0% Single-Family Homes Portfolio Birmingham Homes 11/04/2019 Birmingham AL Home 2,444 11,044 162 13,650 (90) 13,560 100.0% Houston Homes 11/04/2019 Houston TX Home 6,154 22,609 432 29,195 (191) 29,004 100.0% Jacksonville Homes 11/04/2019 Jacksonville FL Home 2,986 24,058 353 27,397 (210) 27,187 100.0% Memphis Homes 11/04/2019 Memphis TN Home 2,679 15,664 266 18,609 (131) 18,478 100.0% Atlanta Homes 11/04/2019 Atlanta GA Home 783 3,839 65 4,687 (38) 4,649 100.0% Oklahoma Homes 11/04/2019 Oklahoma City OK Home 2,082 14,319 199 16,600 (113) 16,487 100.0% Total Single-Family Homes Portfolio 17,128 91,533 1,477 110,138 (773) 109,365 $ 175,317 $ 618,974 $ 30,569 $ 824,860 $ (65,381) $ 759,479 _____________________ (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 December 31, 2019, the leases, excluding options to extend apartment leases and single-family home leases, which have terms that are generally one year or less, had remaining terms of up to 12.2 years with a weighted-average remaining term of 4.3 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 $4.3 million and $3.7 million as of December 31, 2019 and 2018, respectively. During the years ended December 31, 2019, 2018 and 2017, the Company recognized deferred rent from tenants of $4.1 million, $4.7 million and $2.4 million, respectively, net of lease incentive amortization. As of December 31, 2019 and 2018, the cumulative deferred rent receivable balance, including unamortized lease incentive receivables, was $13.6 million and $8.4 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $3.1 million and $1.3 million of unamortized lease incentives as of December 31, 2019 and 2018, respectively. As of December 31, 2019, the future minimum rental income from the Company’s properties, excluding apartment and single-family home leases, under non-cancelable operating leases was as follows (in thousands): 2020 $ 53,396 2021 50,295 2022 44,112 2023 35,871 2024 30,396 Thereafter 67,980 $ 282,050 As of December 31, 2019, the Company’s commercial real estate properties were leased to approximately 229 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 Insurance 26 $ 7,817 14.1 % Health Care and Social Services 16 7,021 12.7 % Computer Systems 24 6,852 12.4 % $ 21,690 39.2 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2019, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term. No other tenant industries accounted for more than 10% of annualized base rent. No material tenant credit issues have been identified at this time. Geographic Concentration Risk As of December 31, 2019, the Company’s real estate investments in Georgia and California represented 17.0% and 13.9%, 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 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 Real Estate Asset 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, KBS Capital Advisors 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. Recent Business Combination Reven Portfolio On November 4, 2019, the Company, through an indirect wholly owned subsidiary, acquired a single-family home portfolio consisting of 993 single-family homes ("Reven"), at the time of acquisition. The seller is not affiliated with the Company, KBS Capital Advisors or the Advisor. The aggregate value of the consideration paid to former holders of Reven common stock was $56.6 million in cash and in addition, the Company expensed $4.5 million of transaction and related costs, which includes $2.4 million of severance costs and a $1.2 million acquisition fee to affiliate. At the closing of the acquisition, Reven changed its name to Pacific Oak Residential Trust, Inc (“PORT”). The intangible assets acquired with this acquisition have weighted-average amortization periods as of the date of acquisition of 0.5 years for tenant origination and absorption costs. The fair values of the assets acquired and liabilities assumed at the closing date were as follows: Assets: Land $ 17,126 Building and improvements 91,320 Tenant origination and absorption costs 1,477 Cash and cash equivalents 8,104 Restricted cash 1,667 Rents and other receivables 989 Prepaid expenses and other assets 634 Liabilities: Notes payable (61,885) Accounts payable and accrued liabilities (1,893) Other liabilities (904) Total cash paid for acquisition $ 56,635 The following unaudited pro forma results of operations reflect the Company’s results as if the acquisition of Reven had occurred on January 1, 2019. The information is not necessarily indicative of the results that actually would have occurred, nor does it indicate future operating results. All significant adjustments necessary to reflect the effects have been made. For the year ended December 31, 2019: Revenues $ 102,540 Expenses (116,370) Net loss $ (13,830) Recent Real Estate Sales 424 Bedford On January 11, 2019, the 424 Bedford Joint Venture sold 424 Bedford to a purchaser unaffiliated with the Company, KBS Capital Advisors 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. Burbank Collection On July 19, 2019, the Burbank Collection Joint Venture sold the Burbank Collection to a purchaser unaffiliated with the Company, KBS Capital Advisors or the Advisor for $25.9 million before closing costs. The carrying value of the Burbank Collection as of the disposition date was $14.7 million, which was net of $2.6 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $10.5 million related to the disposition of the Burbank Collection. 125 John Carpenter On November 1, 2019, the Company sold 125 John Carpenter to a wholly owned subsidiary of Keppel Pacific Oak US REIT (the “SREIT”). The sale price, net of closing credits, of 125 John Carpenter was $99.8 million. The carrying value of 125 John Carpenter was $82.4 million, which was net of $9.1 million of accumulated depreciation and amortization. In connection with the sale of 125 John Carpenter, the Company repaid $53.2 million of outstanding debt secured by 125 John Carpenter.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2019
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES As of December 31, 2019 and 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 Above-Market Below-Market December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Cost $ 30,569 $ 22,472 $ 3,714 $ 3,714 $ (4,958) $ (4,406) Accumulated Amortization (10,223) (5,255) (741) (337) 1,778 878 Net Amount $ 20,346 $ 17,217 $ 2,973 $ 3,377 $ (3,180) $ (3,528) Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2019 2018 2017 2019 2018 2017 2019 2018 2017 Amortization $ (7,036) $ (7,895) $ (10,265) $ (404) $ (361) $ (283) $ 1,495 $ 1,513 $ 2,858 The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2019 will be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Above-Market Below-Market 2020 $ (6,470) $ (315) $ 866 2021 (4,226) (297) 560 2022 (3,104) (297) 507 2023 (2,106) (297) 416 2024 (1,745) (297) 407 Thereafter (2,695) (1,470) 424 $ (20,346) $ (2,973) $ 3,180 Weighted-Average Remaining Amortization Period 4.8 years 10.5 years 5.1 years

REAL ESTATE EQUITY SECURITIES

REAL ESTATE EQUITY SECURITIES	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE EQUITY SECURITIES	REAL ESTATE EQUITY SECURITIES As of December 31, 2019, the Company owned three investments in real estate equity securities. The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of December 31, 2019 and December 31, 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT — $ — 1,781,894 $ 21,846 Keppel Pacific Oak US REIT 64,165,352 50,049 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 23,743 2,772,529 17,273 Plymouth Industrial REIT, Inc. 415,841 7,647 — — 67,354,922 $ 81,439 61,533,775 $ 73,876 During the year ended December 31, 2019, the Company purchased 555,555 shares of common stock of Plymouth Industrial REIT, Inc. (NYSE Ticker: PLYM) for an aggregate purchase price of $10.0 million and also sold 139,714 shares of common stock for an aggregate sales price of $2.7 million. During the year ended December 31, 2019, the Company sold 1,781,894 shares of common stock of Whitestone REIT for an aggregate sales price of $25.4 million. On October 29, 2019, the Company acquired an additional 7,186,000 common units of the SREIT for $5.2 million in connection with the sale of 125 John Carpenter to a wholly owned subsidiary of the SREIT. See note 7, “Real Estate Dispositions” for a further discussion on the Company’s sale of the building. The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the years ended December 31, 2019 and 2018 (in thousands): For the Years Ended December 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 20,379 $ (19,010) Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period 4,158 (837) Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at period end $ 16,221 $ (18,173) During the years ended December 31, 2019, 2018 and 2017, the Company recognized $5.8 million, $6.0 million and $2.5 million, respectively, of dividend income from real estate equity securities. The information for the real estate debt securities as of December 31, 2019 and 2018 is set forth below (in thousands): Debt Securities Name Date Acquired Debt Securities Type Outstanding Principal Balance as of December 31, 2019 Book Value as of December 31, 2019 Book Value as of December 31, 2018 Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units 10/28/2016 / Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) _____________________ (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 year ended December 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment (7,750) Deferred interest receivable and interest accretion (2,992) Receipt of deferred interest receivable (130) Accretion of commitment fee, net of closing costs 4 Other-than-temporary impairment 9 Real estate debt securities - December 31, 2019 $ — For the years ended December 31, 2019, 2018 and 2017, interest income from real estate debt securities consisted of the following (in thousands): For the Years Ended December 31, 2019 2018 2017 Contractual interest income $ 356 $ 1,910 $ 1,217 Interest accretion 4 59 315 Accretion of commitment fee, net of closing costs and acquisition fee 9 49 250 Interest income from real estate debt securities $ 369 $ 2,018 $ 1,782 During the year ended December 31, 2018, the Company recorded an other-than-temporary impairment loss of $2.5 million related to its investment in real estate debt securities as the Company did not believe it is probable that the Company will collect 100% of the contractual cash flows due under the original terms as the issuer under the debt securities was experiencing deteriorating operating performance. The amount of other-than temporary impairment was measured by comparing the amortized cost of the real estate debt securities to the expected cash flows based on a probability-weighted measure over a range of potential outcomes discounted at a 12% discount rate.

REAL ESTATE DEBT SECURITIES

REAL ESTATE DEBT SECURITIES	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
REAL ESTATE DEBT SECURITIES	REAL ESTATE EQUITY SECURITIES As of December 31, 2019, the Company owned three investments in real estate equity securities. The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of December 31, 2019 and December 31, 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT — $ — 1,781,894 $ 21,846 Keppel Pacific Oak US REIT 64,165,352 50,049 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 23,743 2,772,529 17,273 Plymouth Industrial REIT, Inc. 415,841 7,647 — — 67,354,922 $ 81,439 61,533,775 $ 73,876 During the year ended December 31, 2019, the Company purchased 555,555 shares of common stock of Plymouth Industrial REIT, Inc. (NYSE Ticker: PLYM) for an aggregate purchase price of $10.0 million and also sold 139,714 shares of common stock for an aggregate sales price of $2.7 million. During the year ended December 31, 2019, the Company sold 1,781,894 shares of common stock of Whitestone REIT for an aggregate sales price of $25.4 million. On October 29, 2019, the Company acquired an additional 7,186,000 common units of the SREIT for $5.2 million in connection with the sale of 125 John Carpenter to a wholly owned subsidiary of the SREIT. See note 7, “Real Estate Dispositions” for a further discussion on the Company’s sale of the building. The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the years ended December 31, 2019 and 2018 (in thousands): For the Years Ended December 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 20,379 $ (19,010) Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period 4,158 (837) Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at period end $ 16,221 $ (18,173) During the years ended December 31, 2019, 2018 and 2017, the Company recognized $5.8 million, $6.0 million and $2.5 million, respectively, of dividend income from real estate equity securities. The information for the real estate debt securities as of December 31, 2019 and 2018 is set forth below (in thousands): Debt Securities Name Date Acquired Debt Securities Type Outstanding Principal Balance as of December 31, 2019 Book Value as of December 31, 2019 Book Value as of December 31, 2018 Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units 10/28/2016 / Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) _____________________ (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 year ended December 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment (7,750) Deferred interest receivable and interest accretion (2,992) Receipt of deferred interest receivable (130) Accretion of commitment fee, net of closing costs 4 Other-than-temporary impairment 9 Real estate debt securities - December 31, 2019 $ — For the years ended December 31, 2019, 2018 and 2017, interest income from real estate debt securities consisted of the following (in thousands): For the Years Ended December 31, 2019 2018 2017 Contractual interest income $ 356 $ 1,910 $ 1,217 Interest accretion 4 59 315 Accretion of commitment fee, net of closing costs and acquisition fee 9 49 250 Interest income from real estate debt securities $ 369 $ 2,018 $ 1,782 During the year ended December 31, 2018, the Company recorded an other-than-temporary impairment loss of $2.5 million related to its investment in real estate debt securities as the Company did not believe it is probable that the Company will collect 100% of the contractual cash flows due under the original terms as the issuer under the debt securities was experiencing deteriorating operating performance. The amount of other-than temporary impairment was measured by comparing the amortized cost of the real estate debt securities to the expected cash flows based on a probability-weighted measure over a range of potential outcomes discounted at a 12% discount rate.

REAL ESTATE DISPOSITIONS

REAL ESTATE DISPOSITIONS	12 Months Ended
	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE DISPOSITIONS	REAL ESTATE DISPOSITIONS During the year ended December 31, 2019, the Company disposed of one office building, one retail property and 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. During the year ended December 31, 2017, the Company disposed of 12 office properties. On November 1, 2019, the Company, through an indirect wholly owned subsidiary, sold 125 John Carpenter to KORE 125 John Carpenter, LLC, a wholly owned subsidiary of the Keppel Pacific Oak US REIT, previously known as Keppel-KBS US REIT, a newly formed Singapore real estate investment trust (the “SREIT”). The sale price, net of closing credits, of 125 John Carpenter was $99.8 million, before third-party closing costs of approximately $0.2 million and excluding any disposition fees payable to the Company's then-current external advisor. Prior to the sale of 125 John Carpenter, the Company owned 56,979,352 common units of the SREIT, representing a 6.89% ownership interest. On October 29, 2019, the Company purchased 7,186,000 common units of the SREIT for $5.2 million in connection with a private placement to institutional and other investors, maintaining its 6.89% ownership interest. The Company recognized a gain on sale of $16.0 million related to the disposition of 125 John Carpenter. On July 19, 2019, the Burbank Collection Joint Venture sold the Burbank Collection to a purchaser unaffiliated with the Company, KBS Capital Advisors or the Advisor for $25.9 million before closing costs. The carrying value of the Burbank Collection as of the disposition date was $14.7 million, which was net of $2.6 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $10.5 million related to the disposition of the Burbank Collection. On January 11, 2019, the 424 Bedford Joint Venture sold 424 Bedford to a purchaser unaffiliated with the Company, KBS Capital Advisors 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. On November 30, 2018, the Company, through an indirect wholly owned subsidiary, sold the Westpark Portfolio to Keppel-KBS Westpark, LLC, a wholly owned subsidiary of the SREIT. The sale price, net of closing credits, of the Westpark Portfolio was $166.4 million, before third-party closing costs of approximately $3.2 million and excluding any disposition fees payable to the Company’s then-current external advisor. On November 26, 2018, the SREIT issued an aggregate of 186,236,224 common units of the SREIT as a result of their renounceable and underwritten rights issue. The Company purchased 12,979,852 common units of the SREIT for $6.5 million in connection with this offering, maintaining its 7% ownership interest. The Company recognized a gain on sale of $32.5 million related to the disposition of the Westpark Portfolio. On July 17, 2018, the Company sold the Central Building to a purchaser unaffiliated with the Company, KBS Capital Advisors or the Advisor for $67.5 million before closing costs and credits. The carrying value of the Central Building as of the disposition date was $32.6 million, which was net of $5.6 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $32.1 million related to the disposition of the Central Building. On November 8, 2017, the Company, through 11 wholly owned subsidiaries, sold 11 of its properties (the “Singapore Portfolio”) to various subsidiaries of the SREIT, a newly formed Singapore real estate investment trust that was listed on the Singapore Stock Exchange (the “Singapore Transaction”). The sale price of the Singapore Portfolio was $804.0 million, before third-party closing costs of approximately $7.7 million and excluding any disposition fees payable to KBS Capital Advisors. The SREIT paid a portion of the purchase price with approximately 44 million units of the SREIT (SGX Ticker: CMOU) representing 7% of outstanding units of the SREIT. The Singapore Portfolio consists of the following properties: 1800 West Loop, Westech 360 (part of the Austin Suburban Portfolio), Great Hills Plaza (part of the Austin Suburban Portfolio), Westmoor Center, Iron Point Business Park, the Plaza Buildings, Bellevue Technology Center, Northridge Center I and II, West Loop I and II, Powers Ferry Landing East and Maitland Promenade II. The carrying value of the Singapore Portfolio as of the disposition date was $543.2 million, which was net of $103.0 million of accumulated depreciation and amortization. The disposition of the Singapore Portfolio resulted in a gain of $236.9 million, of which $17.1 million was deferred based on the Company’s percentage of the SREIT units owned, which reduced the carrying value of the SREIT units at closing. Additionally, the Company recognized a loss on extinguishment of debt of $0.5 million related to certain notes payable that were repaid in full with proceeds from the Singapore Transaction. On May 15, 2017, the Company sold 50 Congress Street to a purchaser unaffiliated with the Company, KBS Capital Advisors or the Advisor for $79.0 million, or $78.8 million net of concessions and credits. The carrying value of 50 Congress Street as of the disposition date was $47.7 million, which was net of $5.9 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $29.4 million related to the disposition of 50 Congress Street. The following summary presents the major components of assets and liabilities related to real estate held for sale as of December 31, 2019 and December 31, 2018 (in thousands): December 31, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ — $ 139,936 Accumulated depreciation and amortization — (11,790) Real estate, net — 128,146 Other assets — 5,503 Total assets related to real estate held for sale $ — $ 133,649 Liabilities related to real estate held for sale Notes payable, net — 86,424 Other liabilities — 1,477 Total liabilities related to real estate held for sale $ — $ 87,901 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 years ended December 31, 2019, 2018 and 2017 (in thousands): Years Ended December 31, 2019 2018 2017 Revenues Rental income $ 11,458 $ 30,744 $ 94,073 Other operating income 911 1,171 5,668 Total revenues $ 12,369 $ 31,915 $ 99,741 Expenses Operating, maintenance, and management $ 3,423 $ 9,117 $ 28,931 Real estate taxes and insurance 2,217 4,035 12,188 Asset management fees to affiliate 784 2,435 6,458 Depreciation and amortization 3,784 13,066 39,038 Interest expense 2,459 8,083 17,974 Total expenses $ 12,667 $ 36,736 $ 104,589

NOTES AND BONDS PAYABLE

NOTES AND BONDS PAYABLE	12 Months Ended
	Dec. 31, 2019
Notes and Bonds Payable [Abstract]
NOTES AND BONDS PAYABLE	NOTES AND BONDS PAYABLE As of December 31, 2019 and December 31, 2018, the Company’s notes and bonds payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of Book Value as of Contractual Interest Rate as of December 31, 2019 (1) Interest Rate at December 31, 2019 (1) Payment Type (3) Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.19% Interest Only 11/01/2021 Park Centre Mortgage Loan (4) 21,970 8,404 One-Month LIBOR + 1.75% 3.44% Interest Only 06/27/2022 Burbank Collection Mortgage Loan — 10,716 (5) (5) (5) (5) 1180 Raymond Mortgage Loan 30,250 30,637 One-Month LIBOR + 2.25% 3.96% Principal & Interest 06/01/2020 1180 Raymond Bond Payable 6,080 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (6) — 23,710 (6) (6) (6) (6) Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures 224,746 259,516 4.25% 4.25% (7) 03/01/2023 Crown Pointe Mortgage Loan (8) 51,171 51,171 One-Month LIBOR + 2.60% 4.29% Interest Only 2/13/2020 (8) 125 John Carpenter Mortgage Loan (9) — 53,204 (9) (9) (9) (9) City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 3.24% Interest Only 03/05/2021 Marquette Plaza Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 3.24% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 3.29% Interest Only 06/08/2021 Georgia 400 Center Mortgage Loan 59,690 — One-Month LIBOR + 1.55% 3.24% Interest Only 05/22/2023 PORT Mortgage Loan 1 51,362 — 4.74% 4.74% Interest Only 10/01/2025 PORT Mortgage Loan 2 10,523 — 4.72% 4.72% Interest Only 03/01/2026 Total Notes and Bonds Payable principal outstanding 678,080 663,318 Net Premium/(Discount) on Notes and Bonds Payable (10) 783 198 Deferred financing costs, net (5,200) (8,044) Total Notes and Bonds Payable, net $ 673,663 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2019. The interest rate is calculated as the actual interest rate in effect as of December 31, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at December 31, 2019, where applicable. (2) Represents the initial maturity date or the maturity date as extended as of December 31, 2019; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) Represents the payment type required under the loan as of December 31, 2019. Certain future monthly payments due under this loan also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes and bonds payable, see five-year maturity table below. (4) On June 27, 2019, the Company closed on the refinancing of the Park Centre Mortgage Loan. (5) On July 19, 2019, in connection with the disposition of the Burbank Collection, the Burbank Collection Joint Venture repaid the $10.6 million outstanding principal balance due under the Burbank Collection Mortgage Loan. (6) 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. (7) See “ - Israeli Bond Financing” below. (8) Subsequent to December 31, 2019, the Company extended the maturity of the Crown Pointe Mortgage Loan to February 13, 2021. (9) On November 1, 2019, in connection with the disposition of 125 John Carpenter, the Company repaid the $53.2 million outstanding principal balance due under the 125 John Carpenter Mortgage Loan. (10) 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 years ended December 31, 2019, 2018 and 2017, the Company incurred $28.8 million, $31.1 million and $37.1 million of interest expense, respectively. Included in interest expense for the years ended December 31, 2019, 2018 and 2017, was $3.6 million, $3.6 million and $4.4 million of amortization of deferred financing costs, respectively. Additionally, during the years ended December 31, 2019, 2018 and 2017, the Company capitalized $2.7 million, $2.6 million and $2.3 million of interest, respectively, to its investments in undeveloped land. As of December 31, 2019 and 2018, the Company’s interest payable was $4.8 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 December 31, 2019 (in thousands): 2020 $ 137,958 2021 278,554 2022 78,396 2023 116,132 2024 270 Thereafter 66,770 $ 678,080 The Company’s notes payable contain financial debt covenants. As of December 31, 2019, the Company was in compliance with all of these debt covenants. Israeli Bond Financing On March 2, 2016, Pacific Oak Strategic Opportunity BVI, a wholly owned subsidiary of the Company, filed a final prospectus with the Israel Securities Authority for a proposed offering of up to 1,000,000,000 Israeli new Shekels of Series A debentures (the “Debentures”) at an annual interest rate not to exceed 4.25%. On March 1, 2016, Pacific Oak Strategic Opportunity BVI commenced the institutional tender of the Debentures and accepted application for 842.5 million Israeli new Shekels. On March 7, 2016, Pacific Oak Strategic Opportunity BVI commenced the public tender of the Debentures and accepted 127.7 million Israeli new Shekels. In the aggregate, Pacific Oak 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%. Pacific Oak 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 December 31, 2019, the Company had one foreign currency collar for an aggregate notional amount of $776.2 million Israeli new Shekels to hedge its exposure to foreign currency exchange rate movements. See note 9, “Derivative Instruments” for a further discussion on the Company’s foreign currency collar. On February 16, 2020, Pacific Oak Strategic Opportunity BVI issued 254.1 million Israeli new Shekels (approximately $74.1 million as of February 16, 2020) of Series B debentures to Israeli investors pursuant to a public offering registered with the Israel Securities Authority. The Series B Debentures will bear interest at the rate of 3.93% per year. The Series B Debentures have principal installment payments equal to 33.33% of the face amount of the Series B Debentures on January 31st of each year from 2024 to 2026. The deed of trust that governs the terms of the Debentures contains various financial covenants. As of December 31, 2019, the Company was in compliance with all of these financial debt covenants.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates and foreign currency exchange rate movements. The primary goal of the Company’s risk management practices related to interest rate risk is to prevent changes in interest rates from adversely impacting the Company’s ability to achieve its investment return objectives. The Company does not enter into derivatives for speculative purposes. The Company enters into foreign currency options and foreign currency collars to mitigate its exposure to foreign currency exchange rate movements on its bonds payable outstanding denominated in Israeli new Shekels. A foreign currency collar consists of a purchased call option to buy and a sold put option to sell Israeli new Shekels. A foreign currency collar guarantees that the exchange rate of the currency will not fluctuate beyond the range of the options’ strike prices. A foreign currency option consists of a call option to buy Israeli new Shekels. The following table summarizes the notional amount and other information related to the Company’s foreign currency collar and foreign currency option as of December 31, 2019 and 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): December 31, 2019 December 31, 2018 Strike Price Trade Date Maturity Date Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Foreign currency collar 1 776,182 ILS — — 3.38 - 3.4991 ILS - USD 11/25/2019 02/26/2020 (1) Foreign currency collar — — 1 776,182 ILS 3.54 - 3.66 ILS - USD 08/20/2018 02/28/2019 _____________________ (1) On March 16, 2020, the Company entered into a foreign currency collar with an aggregate Israeli new Shekels notional amount of 418.0 million which expires on September 16, 2020. The foreign currency collar consists of a purchased call option to buy Israeli new Shekels at 3.5875 and a sold put option to sell the Israeli new Shekels at 3.725. The foreign currency collar is intended to permit the Company to exchange, on the settlement date of the collar, 418.0 million Israeli new Shekels for an amount ranging from $112.2 million to $116.5 million. On March 17, 2020, the Company entered into a foreign currency collar with an aggregate Israeli new Shekels notional amount of 380.0 million which expires on September 16, 2020. The foreign currency collar consists of a purchased call option to buy Israeli new Shekels at 3.700 and a sold put option to sell the Israeli new Shekels at 3.820. The foreign currency collar is intended to permit the Company to exchange, on the settlement date of the collar, 380.0 million Israeli new Shekels for an amount ranging from $99.5 million to $102.7 million. 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 December 31, 2019, the Company had entered into three interest rate caps, which were not designated as hedging instruments. The following table summarizes the notional amounts and other information related to the Company’s derivative instruments as of December 31, 2019. The notional amount is an indication of the extent of the Company’s involvement in the instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): Derivative Instrument Effective Date Maturity Date Notional Value Reference Rate Interest rate cap 02/21/2017 02/13/2020 $ 46,875 One-month LIBOR at 3.00% Interest rate cap 04/02/2018 03/05/2021 $ 77,513 One-month LIBOR at 3.50% 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 December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Derivative instruments not designated as hedging instruments Interest rate caps Prepaid expenses and other assets 3 $ 12 2 $ 34 Foreign currency collar Other liabilities 1 $ (179) 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 year ended December 31, 2019, the Company recognized a $4.2 million gain related to the foreign currency option and collars, which is shown net against $16.7 million of foreign currency transaction loss in the accompanying consolidated statements of operations as foreign currency transaction loss, net. During the year ended December 31, 2018, the Company recognized a $8.7 million gain related to the foreign currency option and collars, which is shown net against $18.8 million of foreign currency transaction loss in the accompanying consolidated statements of operations as foreign currency transaction loss, net. During the year ended December 2017, the Company recognized a $11.3 million loss related to the foreign currency collars, which is shown net against $26.6 million of foreign currency transaction gain in the accompanying consolidated statements of operations as foreign currency transaction loss, net.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES The following were the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2019 and 2018, which carrying amounts do not approximate the fair values (in thousands): December 31, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate debt securities (1) $ — $ — $ — $ 13,000 $ 10,859 $ 10,859 Financial liabilities: Notes and bond payable $ 453,334 $ 451,743 $ 455,849 $ 403,802 $ 400,470 $ 407,449 Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures $ 224,746 $ 221,920 $ 229,877 $ 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 December 31, 2019, the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Real estate equity securities $ 81,439 $ 81,439 $ — $ — Asset derivative - interest rate caps $ 12 $ — $ 12 $ — Liability derivative - foreign currency collar $ (179) $ — $ (179) $ — As of December 31, 2018, the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Real estate equity securities $ 73,876 $ 73,876 $ — $ — Asset derivative - interest rate caps $ 34 $ — $ 34 $ — Liability derivative - foreign currency collar $ (4,393) $ — $ (4,393) $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS As described further below, the Company has entered into agreements with certain affiliates pursuant to which they provide services to the Company. Keith D. Hall and Peter McMillan III control and indirectly own Pacific Oak Holding Group, LLC, the Company’s sponsor since November 1, 2019. Pacific Oak Holding is the sole owner of Pacific Oak Capital Advisors, LLC, the Company’s advisor since November 1, 2019. Messrs. Hall and McMillan are also two of the Company’s executive officers and directors. In addition, along with Charles J. Schreiber, Jr., Keith D. Hall and Peter McMillan III control and indirectly own KBS Holdings LLC (“KBS Holdings”), the Company’s sponsor prior to November 1, 2019. KBS Holdings is the sole owner of KBS Capital Advisors, the Company’s advisor prior to November 1, 2019, and KBS Capital Markets Group LLC, the entity that acted as the dealer manager of the Company’s now-terminated primary initial public offering. From the Company’s inception through October 31, 2019, KBS Capital Advisors provided day-to-day management of the Company’s business. The advisory agreement with KBS Capital Advisors terminated on October 31, 2019, and the Company hired Pacific Oak Capital Advisors under substantially the same terms on November 1, 2019. The advisory agreement with Pacific Oak Capital Advisors has a one-year term subject to an unlimited number of successive one-year renewals upon the mutual consent of the parties. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the years ended December 31, 2019, 2018 and 2017, respectively, and any related amounts payable as of December 31, 2019 and December 31, 2018 (in thousands): Incurred Payable as of 2019 2018 2017 2019 2018 Expensed Asset management fees $ 8,158 $ 8,525 $ 10,686 $ 1,498 $ — Acquisition fees on business combination (1) 1,185 — — — — Reimbursable operating expenses (2) 236 410 241 — 29 Disposition fees (3) 1,570 2,494 8,352 — — KBS Capital Advisors Termination Fee (4) 32,640 — — (4) — Capitalized Acquisition fees on real estate (1) 897 3,094 907 — — Acquisition fees on real estate equity securities — 239 429 — 7 Acquisition fee on investment in unconsolidated entities 207 — — 137 — $ 44,893 $ 14,762 $ 20,615 $ 1,635 $ 36 _____________________ (1) Acquisition fees associated with asset acquisitions are capitalized, while costs associated with business combinations expensed as incurred. (2) The relevant advisor may seek reimbursement for certain employee costs under the relevant advisory agreement. The Company has reimbursed the relevant 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 $220,000, $305,000 and $225,000 for the years ended December 31, 2019, 2018 and 2017, respectively, and were the only employee costs reimbursed under the relevant 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 relevant advisor for certain of the Company’s direct costs incurred from third parties that were initially paid by the relevant advisor on behalf of the Company. (3) 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. Disposition fees with respect to the assignment of the Company's real estate loan receivable are included in general and administrative expenses in the accompanying consolidated statements of operations. (4) Fee payable to KBS Capital Advisors due to the termination of the former advisory agreement with KBS Capital Advisors. See “Subordinated Performance Fee Due Upon Termination”, below, for more details. During the year ended December 31, 2018, KBS Capital Advisors reimbursed the Company $0.1 million for a property insurance rebate. During the year ended December 31, 2017, KBS Capital Advisors reimbursed the Company $0.4 million for expenses incurred to evaluate certain strategic transactions for which KBS Capital Advisors agreed to reimburse the Company and $0.1 million for a property insurance rebate. There were no reimbursements during the year ended December 31, 2019. On July 6, 2017, Pacific Oak SOR Properties, LLC, an indirect wholly owned affiliate of the Company, entered into (i) a Common Unit Purchase and Sale Agreement and Escrow Instructions with Migdal Insurance Company LTD., Migdal-Makefet Pension and Provident Funds LTD. and affiliates (the “Migdal Members”) (the “Purchase and Sale Agreement”), (ii) the Amended and Restated Limited Liability Company Agreement of KBS SOR Acquisition XXIX, LLC, (iii) an Investment Agreement with Migdal Members and Willowbrook Asset Management LLC, which is owned by Keith D. Hall and Peter McMillan III, (“WBAM”), and (iv) a waiver letter agreement with the Advisor (the “Waiver Agreement”). Pursuant to the Purchase and Sale Agreement, on July 6, 2017, Pacific Oak SOR Properties, LLC 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”) for approximately $39.1 million (the “353 Sacramento Transaction”) to the Migdal Members, third parties unaffiliated with the Company, KBS Capital Advisors or the Advisor. The sale resulted in 353 Sacramento being owned by a joint venture (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. Pursuant to the Waiver Agreement, KBS Capital Advisors waived any right it may have had to receive a disposition fee in connection with the 353 Sacramento Transaction and also waived its rights to future acquisition fees in an amount equal to 45% of the acquisition fees paid to KBS Capital Advisors in connection with the Company’s original purchase of 353 Sacramento in July of 2016. Accordingly, KBS Capital Advisors waived $0.8 million of acquisition fees for the purchase of an office property consisting of two office buildings containing an aggregate of 442,039 rentable square feet in Irving, Texas (“125 John Carpenter”). In connection with the 353 Sacramento Transaction, the Company paid a $0.1 million broker commission to Monarch Global Partners, LLC. The son of a member of the board of directors of Pacific Oak Strategic Opportunity BVI is a partner at Monarch Global Partners, LLC. Also in connection with the 353 Sacramento Transaction, the Migdal Members paid an acquisition fee of $0.2 million to WBAM and $0.2 million to the Company. Subordinated Performance Fee Due Upon Termination The Company and KBS Capital Advisors agreed to terminate their advisory agreement effective October 31, 2019. In connection with that agreement, the Company agreed to pay KBS Capital Advisors a subordinated performance fee due upon termination in the form of restricted shares of the Company’s common stock (“Restricted Shares”), to be paid to KBS Capital Advisors upon the filing of its Annual Report on Form 10-K for the year ended December 31, 2019. The number of restricted shares to be awarded has been set at 3,411,737 shares. This termination payout value to KBS Capital Advisors (the “KBS Termination Fee Value”) was determined based on the Company’s performance from inception through September 30, 2018. In other words, it was based on the Company’s participation fee potential liability to KBS Capital Advisors calculated with respect to the November 12, 2018 estimated value per share. As a result, when the Company hired Pacific Oak Capital Advisors as the Company’s new advisor on November 1, 2019, the Company agreed to a participation fee that was based on the Company’s performance from September 30, 2018. The Restricted Shares vest on November 1, 2021. Within 60 days from vesting of the Restricted Shares, the Company will redeem 50% of the Restricted Shares, with the amount of the cash payment per share determined based on the then most recent net asset value of the shares (which shall not be more than six months old). The remaining vested Restricted Shares (the “Remaining Shares”) shall not be eligible for redemption under the Company’s share redemption program unless the Company has satisfied all outstanding redemption requests from other stockholders, provided that (a) this restriction may be waived in certain situations, such as upon a change of control of the Company and (b) notwithstanding the foregoing, within 60 days after November 1, 2024, the Company shall be required to redeem any Remaining Shares, separate and outside of any general stockholder share redemption program, at the then most recent net asset value per share (which shall not be more than six months old), provided that such outstanding shares are owned or controlled by Charles J. Schreiber, Jr. or the estate of Peter M. Bren, and provided further that pursuant to this clause (b) the Company will only be required to redeem that number Remaining Shares which, when added to any previously redeemed Remaining Shares owned or controlled by Charles J. Schreiber, Jr. or the estate of Peter M. Bren, does not exceed two-thirds of the total number of Remaining Shares. The Company also agreed with KBS Capital Advisors and Pacific Oak Capital Advisors that with respect to any fiscal quarter that any matter related to the award of Restricted Shares results in a company expense that falls within the definition of Total Operating Expenses (as defined in the Company’s charter), if Total Operating Expenses for the four consecutive fiscal quarters then ended exceed the 2%/25% Guidelines (as defined in the Company’s charter), then the Company’s conflicts committee will determine an Excess Amount (as defined in the Company’s charter) is justified, based on unusual and non-recurring factors that it deems sufficient, in an amount sufficient (a) to allow the portion of Total Operating Expenses for the four consecutive fiscal quarters then ended comprised of the Restricted Shares expenses to be paid or incurred by the company without reimbursement by the Advisor (as defined in the Company’s charter) and (b) to allow any other portion of Total Operating Expenses for the four consecutive fiscal quarters then ended to be paid or incurred by the company without reimbursement by the Advisor, to the extent such portion alone (i.e., that portion of Total Operating Expenses exclusive of the Restricted Shares expenses) would not have exceeded the 2%/25% Guidelines. Subordinated Participation in Net Cash Flows (payable only if the Company is not listed on a national exchange) After investors in the Company’s offerings 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 Company’s share redemption program, (ii) a 7.0% per year cumulative, noncompounded return on such net invested capital, and (iii) the value of the KBS Termination Fee Payout, 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 Company’s 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 Company’s stockholders will differ, and some may be less than a 7.0% per year cumulative, noncompounded return. This fee is payable only if the Company is not listed on an exchange. Subordinated Incentive Listing Fee (payable only if the Company is listed on a national exchange) Upon listing the Company’s common stock on a national securities exchange, the Advisor is entitled to a fee equal to 15.0% of the amount by which the market value of the Company’s outstanding stock plus distributions paid by the Company (including distributions that may constitute a return of capital for federal income tax purposes) prior to listing exceeds the aggregate of (i) the sum of the Company’s stockholders’ 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 Company’s share redemption program, and the amount of cash flow necessary to generate a 7.0% per year cumulative, noncompounded return on such amount and (ii) the KBS Termination Fee Payout. 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 Company’s stockholders to have received any minimum return in order for the Advisor to receive the listing fee. In fact, if the Advisor is entitled to the listing fee, the returns of the Company’s stockholders will differ, and some may be less than a 7.0% per year cumulative, noncompounded return. Subordinated Performance Fee Due Upon Terminatio n In accordance with the new advisory agreement with Pacific Oak Capital Advisors, if the advisory agreement is terminated or not renewed, other than for cause, the Company’s advisor is entitled to receive a participation fee equal to (A) 15.0% of the Company’s net cash flows, whether from continuing operations, net sale proceeds or otherwise, after the Company’s 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 Company’s share redemption program, and (ii) a 7.0% per year cumulative, noncompounded return on such net invested capital from the Company’s inception, less (B) the KBS Termination Fee Payout. 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 Company’s advisor. The 7.0% per year cumulative, noncompounded return on net invested capital from the Company’s inception 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 Company’s stockholders to have received any minimum return in order for the Company’s advisor to participate in the Company’s net cash flows. In fact, if the Company’s advisor is entitled to participate in the Company’s net cash flows, the returns of the Company’s stockholders will differ, and some may be less than a 7.0% per year cumulative, noncompounded return. This fee is payable only if the Company is not listed on an exchange. Insurance On January 6, 2014, the Company, together with KBS Real Estate Investment Trust, Inc. (“KBS REIT I”), KBS Real Estate Investment Trust II, Inc. (“KBS REIT II”), KBS Real Estate Investment Trust III, Inc. (“KBS REIT III”), KBS Legacy Partners Apartment REIT, Inc. (“KBS Legacy Partners Apartment REIT”), Pacific Oak Strategic Opportunity REIT II, Inc. (“Pacific Oak Strategic Opportunity REIT II”), the Company’s former dealer manager, the Company’s former 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 Company’s 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, Inc. (”KBS Growth & Income REIT”) was added to the insurance program at terms similar to those described above. At renewal in June 2018, the Company, along with Pacific Oak 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 Pacific Oak 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 Company’s 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. Singapore Transactions On October 24, 2017, the Company (through certain subsidiaries) entered into a Portfolio Purchase and Sale Agreement and Escrow Instructions (the “Purchase Agreement”) pursuant to which the Company agreed to sell, subject to certain closing conditions, the Singapore Portfolio to various subsidiaries of the SREIT that intended to list (and subsequent did list, as described below) on the Singapore Stock Exchange (the “Singapore Transaction”). The agreed purchase price of the Singapore Portfolio was $804 million. The Singapore Portfolio consisted of the following properties: 1800 West Loop, Westech 360 (part of the Austin Suburban Portfolio), Great Hills Plaza (part of the Austin Suburban Portfolio), Westmoor Center, Iron Point Business Park, the Plaza Buildings, Bellevue Technology Center, Northridge Center I and II, West Loop I and II, Powers Ferry Landing East, and Maitland Promenade II. 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 or the Company’s management. As described in more detail below, 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 November 2, 2017, Pacific Oak SOR Properties, LLC (“Pacific Oak SORP”), an indirect wholly owned subsidiary of the Company, entered into an underwriting agreement (the “Underwriting Agreement”) with respect to the initial public offering of units of the SREIT. The Underwriting Agreement was entered into with the Manager, KBS Pacific Advisors Pte. Ltd., Keppel Capital Holdings Pte. Ltd., GKP Holding LLC, Keppel Capital Investment Holdings Pte. Ltd., DBS Bank Ltd., Merrill Lynch (Singapore) Pte. Ltd., Citigroup Global Markets Singapore Pte. Ltd., and Credit Suisse (Singapore) Limited. KBS Pacific Advisors Pte. Ltd. and GKP Holding LLC are affiliated with the Manager and entities 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 ownership and economic interests. Pursuant to the Underwriting Agreement, the underwriters agreed to procure subscriptions, or subscribe themselves, for an aggregate of 262,772,400 units in the SREIT, at a price of $0.88 per unit (the “IPO Price”), in connection with the Singapore Transaction. Other parties agreed to subscribe for units separately, including Pacific Oak SORP, which, on October 25, 2017, entered into a subscription agreement with the Manager in which it agreed to purchase 59,713,600 units at the IPO Price (the “Pacific Oak SORP Owned Units”) in connection with the initial public offering. Pursuant to the Underwriting Agreement, Pacific Oak SORP granted the underwriters an over-allotment option (the “Over-Allotment Option”) in which it agreed to sell the underwriters up to 15,714,100 of the Pacific Oak SORP Owned Units at the IPO Price, for up to 30 days after the listing. Separately, Pacific Oak SORP agreed to lend the underwriters certain of its Pacific Oak SORP Owned Units for stabilizing transactions following the listing of the SREIT pursuant to a unit lending agreement entered into on November 2, 2017 with the Manager and Merrill Lynch (Singapore) Pte. Ltd. Pursuant to lock-up letters from the Company and certain of the Company’s subsidiaries delivered to the underwriters on November 2, 2017, the Company and its subsidiaries agreed not to sell, pledge or transfer any of the Company’s Pacific Oak SORP Owned Units (other than pursuant to the Over-Allotment Option or lending for stabilizing transactions pursuant to the unit lending agreement described above) for six months following the initial public offering, and not to sell, pledge or transfer 50% of the Pacific Oak SORP Owned Units for 12 months following the initial public offering. On November 8, 2017, the Company completed the sale of the Singapore Portfolio to the SREIT. The closing date of the initial public offering and the listing of the SREIT both occurred on November 8, 2017. The sale price of the Singapore Portfolio was $804 million, before third-party closing costs of approximately $7.7 million and excluding any disposition fees payable to the Company’s advisor. The sale price for the Singapore Portfolio was primarily determined based on real estate valuations performed by independent third-party valuation firms. The $804 million purchase price for the 11 properties in the Singapore Portfolio is slightly above the aggregate appraised values for the 11 properties used in the Company’s prior estimated value per share determined as of December 8, 2016. As of September 30, 2017, the properties in the Singapore Portfolio had a cumulative carrying value of $546.5 million. The Company avoided significant third-party closing costs by selling the Singapore Portfolio to the SREIT in connection with its initial public offering on the Singapore Stock Exchange compared to selling the properties, whether individually or as a portfolio, in a typical sales transaction, which represents significant savings to the Company for a disposition of this size. In connection with the Singapore Transaction, the Company repaid $401.7 million of outstanding debt secured by the properties in the Singapore Portfolio. The Company used approximately $52.5 million of the proceeds to acquire units in the SREIT representing a 9.5% ownership interest. The underwriters exercised the Over-Allotment Option in full, and on December 15, 2017, purchased 15,714,100 of the Pacific Oak SORP Owned Units from the Company at the IPO Price. As a result of the Over-Allotment Option, the Company owned 43,999,500 units of the SREIT, representing a 7.0% ownership interest. On November 30, 2018, the Company sold a portfolio of 21 office/flex/industrial buildings containing a total of 778,472 rentable square feet located on approximately 41 acres of land in Redmond, Washington (the “Westpark Portfolio”) to the SREIT. The sale price, net of closing credits, of the Westpark Portfolio was $166.4 million, before third-party closing costs of approximately $3.2 million and excluding any disposition fees payable to KBS Capital Advisors. On November 26, 2018, the SREIT issued an aggregate of 186,236,224 common units of the SREIT as a result of their renounceable and underwritten rights issue. The Company purchased 12,979,852 common units of the SREIT for $6.5 million in connection with this offering, maintaining its 7% ownership interest. On November 1, 2019, the Company sold an office property consisting of two buildings containing a total of 445,317 rentable square feet in Irving, Texas (“125 John Carpenter”) to the SREIT. The sale price, net of closing credits, of 125 John Carpenter was $99.8 million, before third-party closing costs of approximately $0.2 million and excluding any disposition fees payable to Pacific Oak Capital Advisors. Prior to the sale of 125 John Carpenter, the Company owned 56,979,352 common units of the SREIT, representing a 6.89% ownership interest. On October 29, 2019, the Company purchased 7,186,000 common units of the SREIT for $5.2 million in connection with a private placement to institutional and other investors, maintaining its 6.89% ownership interest. The interests of Messrs. Hall and McMillan in the SREIT are described below. Messrs. Hall and McMillan collectively own two-thirds of KBS Pacific Advisors, LLC, which owns 50% of the Manager. The other 50% ownership stake in the Manager was acquired by Keppel Capital Holding Pte. Ltd. for $27.5 million, which amount was distributed in its entirety to KBS Pacific Advisors, LLC. The Manager will receive the following fees from the SREIT: • Management Fee – The Manager’s management fee comprises a base fee and a performance fee, which make up a substantial portion of the Manager’s total remuneration for the provision of on-going management services to the SREIT. The base fee equals 10% per year of the SREIT “annual distributable income,” which is calculated before accounting for the base fee and the performance fee. The performance fee is generally equal to 25% of the growth in the SREIT’s distributions per unit of common equity from one year to the next (calculated after accounting for the base fee but before accounting for the performance fee). For the year ended December 31, 2019, the SREIT incurred $5.1 million related to the management fee. • Acquisition Fee and Divestment Fee – The Manager will also receive an acquisition fee and a divestment fee from the SREIT. The acquisition fee will generally equal 1% of purchase price of the assets acquired by the SREIT and the divestment fee will generally equal 0.5% of the sale price of the assets disposed of by the SREIT. For the year ended December 31, 2019, the SREIT incurred $1.0 million related to the acquisition fee and did not incur a divestment fee. Battery Point Restructuring On October 28, 2016, the Company, through an indirect wholly owned subsidiary, agreed to invest up to $25,000,000 in Battery Point Trust, LLC (“Battery Point LLC”) through the purchase of Series B Preferred Equity Units (the “Series B Preferred Units”). On May 12, 2017, the Company and Battery Point LLC agreed to limit the Company’s investment to $17,500,000 worth of Series B Preferred Units. The Company invested the full $17,500,000 in stages. During 2018, $4,500,000 was repaid to the Company. On June 29, 2018, Battery Point LLC was converted into Battery Point Trust, Inc. (“Battery Point”) and the Company’s Series B Preferred Units were converted into Series B Preferred Shares (the “Series B Preferred Shares”). The Series B Preferred Shares are entitled to the same rights and protections as were the Series B Preferred Units. The Series B Preferred Shares pay a quarterly dividend of 12% and had an outside maturity date of October 28, 2019. 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 Battery Point Series A-3 Preferred Units with a per-unit price of $25. On March 20, 2019, Pacific Oak Battery Point Holdings, LLC (“Pacific Oak BP”), a wholly owned subsidiary of Pacific Oak Capital Advisors, 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, (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 is responsible for funding the ongoing operations of Battery Point Holdings and its subsidiaries. The affiliated DayMark service entities are 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 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. During the year ended December 31, 2019, the Company purchased additional 430,000 shares of Battery Point Series A-3 Preferred Units for an aggregate amount of $10.8 million. As of December 31, 2019, the Company had 640,000 Battery Point Series A-3 Preferred Units. Pacific Oak Opportunity Zone Fund I During the year ended December 31, 2019, the Company acquired 91 Class A Units for $20.6 million in the Pacific Oak Opportunity Zone Fund I, LLC (“Pacific Oak Opportunity Zone Fund I”). Pacific Oak Opportunity Zone Fund I is sponsored by Pacific Oak Holding. Pacific Oak Capital Advisors 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 equa

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES	INVESTMENT IN UNCONSOLIDATED ENTITIES As of December 31, 2019 and 2018, the Company’s investments in unconsolidated entities were composed of the following (dollars in thousands): Number of Properties at December 31, 2019 Investment Balance at Joint Venture Location Ownership % December 31, 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% 42,214 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 13,991 — Pacific Oak Opportunity Zone Fund I 2 Various N/A 20,846 — $ 78,276 $ 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 December 31, 2019. Prior to January 17, 2018, KBS REIT I, an affiliate of KBS Capital Advisors, 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, KBS Capital Advisors or the Advisor. During the year ended December 31, 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 year ended December 31, 2018, the Company received a distribution of $2.6 million related to its investment in the NIP Joint Venture. The Company recognized $0.4 million of income distributions and $2.2 million of return of capital from the NIP Joint Venture. During the year ended December 31, 2017, the Company received a distribution of $3.7 million related to its investment in the NIP Joint Venture. The Company recognized $2.1 million of income distributions and $1.6 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, 2019, the book value of the Company’s investment in the 110 William Joint Venture was $0. 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 year ended December 31, 2019, the 110 William Joint Venture made a $7.8 million distribution to the Company and a $5.2 million distribution to the 110 William JV Partner funded with proceeds from the 110 William refinancing (discussed below). The distribution exceeded the book value of the Company’s investment in the 110 William Joint Venture, and the Company recorded the $7.8 million distribution as a gain included in equity in income of unconsolidated joint ventures during the year ended December 31, 2019. This gain was recorded because the Company determined that the distribution is not refundable and it does not have an implicit or explicit commitment to fund the 110 William Joint Venture. The Company suspended 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. During the year ended December 31, 2018, the Company did not receive any distributions related to its investment in the 110 William Joint Venture. During the year ended December 31, 2017, the 110 William Joint Venture made a $58.2 million return of capital distribution to the Company and a $38.8 million return of capital distribution to the 110 William JV Partner funded with proceeds from the 110 William refinancing. Summarized financial information for the 110 William Joint Venture follows (in thousands): December 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 242,430 $ 235,613 Other assets 35,747 37,337 Total assets $ 278,177 $ 272,950 Liabilities and equity: Notes payable, net $ 292,221 $ 267,311 Other liabilities 10,664 7,485 Partners’ deficit (24,708) (1,846) Total liabilities and equity $ 278,177 $ 272,950 For the Years Ended December 31, 2019 2018 2017 Revenues $ 34,186 $ 38,539 $ 37,338 Expenses: Operating, maintenance, and management 9,213 9,844 10,056 Real estate taxes and insurance 7,064 6,718 6,281 Depreciation and amortization 11,166 15,596 16,544 Interest expense 16,742 17,815 13,134 Total expenses 44,185 49,973 46,015 Total other income 137 112 56 Net loss $ (9,862) $ (11,322) $ (8,621) Company’s share of net loss (1) $ 5,917 $ (6,835) $ (5,214) _____________________ (1) During the year ended December 31, 2019, the Company recorded $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 used 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 the 353 Sacramento Joint Venture. On July 6, 2017, the Company sold a 45% equity interest in an entity that owns 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 year ended December 31, 2019 and December 31, 2017, the Company did not receive any distributions related to its investment in the 353 Sacramento Joint venture. During the year ended December 31, 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): December 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 180,592 $ 180,852 Other assets 21,822 13,123 Total assets $ 202,414 $ 193,975 Liabilities and equity: Notes payable, net $ 115,280 $ 105,593 Other liabilities 11,193 10,863 Partners’ capital 75,941 77,519 Total liabilities and equity $ 202,414 $ 193,975 For the Year Ended December 31, 2019 For the Year Ended December 31, 2018 For the Period from July 6, 2017 to December 31, 2017 Revenues $ 17,015 $ 11,397 $ 7,053 Expenses: Operating, maintenance, and management 3,785 3,654 2,189 Real estate taxes and insurance 2,822 2,372 1,198 Depreciation and amortization 6,485 5,680 3,408 Interest expense 5,734 5,374 2,302 Total expenses 18,826 17,080 9,097 Net loss $ (1,811) $ (5,683) $ (2,044) Company’s equity in loss of unconsolidated joint venture $ (854) $ (2,995) $ (823) 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 $13.0 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. During the year ended December 31, 2019, the Company purchased additional 430,000 shares of Battery Point Series A-3 Preferred Units for an aggregate amount of $10.8 million. 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 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 December 31, 2019, at a carrying value of $14.0 million. During the year ended December 31, 2019, the Company received distributions of $0.3 million, which were recognized as dividend income from real estate equity securities. Investment in Pacific Oak Opportunity Zone Fund I During the year ended December 31, 2019, the Company acquired 91 Class A Units for $20.6 million in Pacific Oak Opportunity Zone Fund I. As of December 31, 2019, the book value of the Company’s investment in Pacific Oak Opportunity Zone Fund I was $20.8 million, which includes $0.2 million of acquisition fees. As of December 31, 2019, Pacific Oak Opportunity Zone Fund I consolidated two joint venture with real estate under development. As of December 31, 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 $20.8 million as of December 31, 2019.

SUPPLEMENTAL CASH FLOW AND SIGN

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES	SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands): Years Ended December 31, 2019 2018 2017 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $2,739, $2,565 and $2,339 for the years ended December 31, 2019, 2018 and 2017, respectively $ 25,703 $ 27,029 32,688 Supplemental Disclosure of Significant Noncash Transactions: Assets and liabilities deconsolidated in connection with the 353 Sacramento partial sale: Real estate, net — — 170,586 Rents and other receivables, net — — 1,244 Prepaid expenses and other assets — — 555 Notes payable, net — — 87,132 Accounts payable and accrued liabilities — — 1,574 Below-market leases, net — — 2,960 Other liabilities — — 924 Assets and liabilities consolidated in connection with the PORT acquisition: Cash 8,104 — — Restricted cash 1,667 — — Rents and other receivables 989 — — Prepaid expenses and other assets 634 — — Real estate held for investment 109,922 — — Notes payable 61,885 — — Accounts payable and accrued liabilities 1,893 — — Other liabilities 904 — — Acquisition fees due to affiliates on investment in unconsolidated entities 137 — — Accrued improvements to real estate 5,302 3,363 3,717 Redeemable common stock payable 829 10,000 8,595 Restricted stock payable 16,320 — — Mezzanine equity in connection with subordinated performance fee due upon termination 10,880 — — Restricted stock (additional paid in capital) in connection with subordinated performance fee due upon termination 5,440 — — Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — — Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units 2,992 — — Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 829 1,418 8,666 Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend — 150,299 — Distributions paid to common stockholders through common stock issuances pursuant to the November 2018 special dividend — 127,911 —

REPORTING SEGMENTS

REPORTING SEGMENTS	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
REPORTING SEGMENTS	REPORTING SEGMENTSThe Company recognizes two reporting segments for the year ended December 31, 2019 and consists of strategic opportunistic properties and single-family homes. All corporate related costs are included in the strategic opportunistic properties segment to align with how financial information is presented to the chief operating decision maker. The selected financial information for the two reporting segments for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Strategic Opportunistic Properties Single-Family Homes Total Total revenues $ 91,351 $ 1,807 $ 93,158 Total expenses (130,516) (2,374) (132,890) Total other income (loss) 28,944 (4,461) 24,483 Net loss before income taxes $ (10,221) $ (5,028) $ (15,249) Total assets related to the two reporting segments as of December 31, 2019 are as follows: December 31, 2019 Strategic Opportunistic Properties Single-Family Homes Total Total assets $ 921,917 $ 119,325 $ 1,041,242

PORT PREFERRED STOCK

PORT PREFERRED STOCK	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
PORT PREFERRED STOCK	PORT PREFERRED STOCK The Company has authorized and issued preferred stock from a wholly owned subsidiary. The Company has elected to use the measurement method described under ASC 480-10-S99-3A, paragraph 15(b), resulting in the preferred stock being classified in mezzanine equity and measured based on the estimated future redemption value as of December 31, 2019. On November 6, 2019, PORT issued 15,000 shares out of its available 25,000,000 shares of Series A Cumulative Convertible Redeemable Preferred Stock for gross proceeds of $1,000 per share resulting in net proceeds of $15.0 million before issuance costs. The shares provide for an annual dividend of 6% payable quarterly, which increases to 12% if all shares are not redeemed by the Company immediately following the redemption date. However, the 12% dividend rate does not apply until the aggregate number of shares selected for redemption do not constitute 10% or more of all outstanding shares. The shares may be redeemed by the holders beginning on November 4, 2021 for $1,000 per share plus all accrued but unpaid dividends through the redemption date, or after November 4, 2022 for $1,120 per share plus all accrued but unpaid dividends through the redemption date. In addition, after November 4, 2020, the shares are redeemable at the Company’s option, at any time or from time to time, at a redemption price of $1,120 per share plus unpaid accrued dividends. Additionally, if the common shares of PORT are publicly traded, the holder may elect to convert its preferred shares into PORT common shares based on a value of the preferred shares of $1,120 per share plus unpaid accrued dividends, and a conversion price of the common shares as stated in the agreement. On November 22, 2019, PORT issued 125 shares of its Series B Cumulative Redeemable Preferred Stock for gross proceeds of $1,000 per share resulting in net proceeds of $0.1 million after issuance costs. The shares provide for an annual dividend of 12.5% payable semiannually. The shares may be redeemed by the holders for $1,050 per share until December 31, 2021 and for $1,000 per share thereafter. The following is a reconciliation of the Company’s noncontrolling cumulative convertible redeemable preferred stock for the year ended December 31, 2019: Series A Prefered Stock Series B Prefered Stock Shares Amounts Shares Amounts Issuance of preferred stock 15,000 $ 15,000 125 $ 125 Other offering costs — (91) — (26) Balance, December 31, 2019 15,000 $ 14,909 125 $ 99

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	12 Months Ended
	Dec. 31, 2019
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION Restricted Stock The Company will issue 3,411,737 restricted shares to KBS Capital Advisors in connection with the subordinated performance fee due upon termination upon the filing of the Form 10-K for the year ended December 31, 2019 (the “Restricted Stock”). The Restricted Stock vests on November 1, 2021. These shares are subject to non-compete provisions, which are treated as clawback contingent features and will be accounted for if and when the Restricted Stock is required to be returned. Within 60 days from the vesting of the Restricted Stock, the Company is required to redeem 50% of the Restricted Stock in cash, with the amount of the cash payment per share determined based on the then most recent net asset value of the shares. These shares are classified as a liability instrument, accounted for as restricted stock payable on the accompanying consolidated balance sheets, and are recorded at the fair value of the shares at each reporting period until settled. Within 60 days after November 1, 2024, the Company may be required to redeem up to 2/3rd of the remaining Restricted Stock at the most recent net asset value per share. These shares are classified as an equity instrument and accounted for as mezzanine equity on the accompanying consolidated balance sheets. These shares are recorded at the redemption value as if the settlement occurred at the reporting date. The remaining shares are classified as an equity instrument and recorded in additional paid-in-capital on the accompanying balance sheets. For the year ended December 31, 2019, the Company recorded the full expense related to the issuance of the Restricted Stock of $32.6 million, as subordinated performance fee due upon termination to affiliate on the accompanying statement of operations. The fair value of the Restricted Stock was estimated based on the Company’s NAV per share, adjusted for a lack of marketability discount. The Restricted Stock was measured at its fair value of $9.57 per share.

SELECTED QUARTERLY FINANCIAL DA

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED)	SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts): 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 21,911 $ 21,689 $ 25,282 $ 24,276 Net income (loss) $ 17,460 $ (6,301) $ 2,290 $ (28,630) Net income (loss) attributable to common stockholders $ 16,781 $ (6,249) $ 772 $ (28,586) Net income (loss) per common share, basic and diluted $ 0.25 $ (0.09) $ 0.01 $ (0.43) Distributions declared per common share $ 0.009 $ 0.009 $ 0.009 $ — 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 19,636 $ 25,290 $ 27,156 $ 23,705 Net income (loss) $ (23,702) $ 9,993 $ 36,421 $ 10,612 Net income (loss) attributable to common stockholders $ (23,681) $ 10,036 $ 36,497 $ 10,694 Net income (loss) per common share, basic and diluted $ (0.38) $ 0.16 $ 0.67 $ 0.19 Distributions declared per common share $ 0.016 $ 0.016 $ 0.016 $ 2.950

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Economic Dependency The Company is dependent on the Advisor for certain services that are essential to the Company, including the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that the Advisor is unable to provide these services, the Company will be required to obtain such services from other sources. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations as of December 31, 2019. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. Legal Matters From time to time, the Company is a party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on the Company’s results of operations or financial condition, which would require accrual or disclosure of the contingency and the possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote. Subordinated Performance Fee Due Upon Termination The Company and KBS Capital Advisors agreed to terminate their advisory agreement effective October 31, 2019. In connection with that agreement, the Company agreed to pay KBS Capital Advisors a subordinated performance fee due upon termination in the form of restricted shares of the Company’s common stock (“Restricted Shares”), to be paid to KBS Capital Advisors upon the filing of its Annual Report on Form 10-K for the year ended December 31, 2019. The number of restricted shares to be awarded has been set at 3,411,737 shares. This termination payout value to KBS Capital Advisors (the “KBS Termination Fee Value”) was determined based on the Company’s performance from inception through September 30, 2018. In other words, it was based on the Company’s participation fee potential liability to KBS Capital Advisors calculated with respect to the November 12, 2018 estimated value per share. As a result, when the Company hired Pacific Oak Capital Advisors as its new advisor on November 1, 2019, the Company agreed to a participation fee that was based on its performance from September 30, 2018. The Restricted Shares vest on November 1, 2021. Within 60 days from vesting of the Restricted Shares, the Company will redeem 50% of the Restricted Shares, with the amount of the cash payment per share determined based on the then most recent net asset value of the shares (which shall not be more than six months old). The remaining vested Restricted Shares (the “Remaining Shares”) shall not be eligible for redemption under the Company’s share redemption program unless the Company has satisfied all outstanding redemption requests from other stockholders, provided that (a) this restriction may be waived in certain situations, such as upon a change of control of the Company and (b) notwithstanding the foregoing, within 60 days after November 1, 2024, the Company shall be required to redeem any Remaining Shares, separate and outside of any general stockholder share redemption program, at the then most recent net asset value per share (which shall not be more than six months old), provided that such outstanding shares are owned or controlled by Charles J. Schreiber, Jr. or the estate of Peter M. Bren, and provided further that pursuant to this clause (b) the Company will only be required to redeem that number Remaining Shares which, when added to any previously redeemed Remaining Shares owned or controlled by Charles J. Schreiber, Jr. or the estate of Peter M. Bren, does not exceed two-thirds of the total number of Remaining Shares.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 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 January 23, 2020, 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 January 24, 2020. On January 29, 2020, the Company paid distributions of $0.6 million related to this distribution. Series B Debentures On February 16, 2020, Pacific Oak Strategic Opportunity BVI issued 254.1 million Israeli new Shekels (approximately $74.1 million as of February 16, 2020) of Series B debentures to Israeli investors pursuant to a public offering registered with the Israel Securities Authority. The Series B Debentures will bear interest at the rate of 3.93% per year. The Series B Debentures have principal installment payments equal to 33.33% of the face amount of the Series B Debentures on January 31st of each year from 2024 to 2026. Proposed NAV REIT Conversion On January 22, 2020, the Company filed a registration statement on Form S-11 with the SEC to offer up to $1 billion in additional shares of the Company’s common stock. This new registration statement contemplates a proposed conversion of the Company to a perpetual-life net asset value or “NAV” REIT that offers and sells shares of the Company’s common stock continuously through a number of distribution channels in ongoing public offerings, and seeks to provide increased liquidity to current and future stockholders through an expansion of the Company’s current share redemption program. See “Proposed NAV REIT Conversion” in Item Part I, Item 1 of this Annual Report on Form 10-K for more information. Proposed Merger On February 19, 2020, the Company, Pacific Oak SOR II, LLC, an indirect subsidiary of the Company’s (“Merger Sub”), and Pacific Oak Strategic Opportunity REIT II, Inc. (“POSOR II”) entered into an Agreement and Plan of Merger (the “Merger Agreement”). Subject to the terms and conditions of the Merger Agreement, POSOR II will merge with and into Merger Sub (the “Merger”), with Merger Sub surviving the Merger (the “Surviving Entity”), such that following the Merger, the Surviving Entity will continue as an indirect subsidiary of the Company’s. In accordance with the applicable provisions of the Maryland General Corporation Law, the separate existence of POSOR II shall cease. At the effective time of the Merger and subject to the terms and conditions of the Merger Agreement, each issued and outstanding share of POSOR II’s common stock (or a fraction thereof), $0.01 par value per share, will be converted into the right to receive 0.9643 shares of the Company’s common stock, par value $0.01 per share. The combined company after the Merger will retain the name “Pacific Oak Strategic Opportunity REIT, Inc.” See “Proposed Merger” in Item Part I, Item 1 of this Annual Report on Form 10-K for more information. Concurrently with the entry into the Merger Agreement, the Company and the Advisor entered into the Amended and Restated Advisory Agreement (the “Amended Advisory Agreement”). The Amended Advisory Agreement amended the Company’s existing advisory agreement to provide that no acquisition fees will be paid in connection with the Merger and to set the “issue price” ($10.63 per share) of the shares issued in the Merger for purposes of calculating the Advisor’s incentive fee. The Merger itself will not trigger an incentive fee to the Advisor by POSOR II or the Company. Concurrently with the entry into the Merger Agreement, POSOR II and the Advisor entered into a termination letter agreement (the “Termination Agreement”), effective as of February 19, 2020. Pursuant to the Termination Agreement, the advisory agreement between POSOR II and the Advisor (the “POSOR II Advisory Agreement”) will be terminated at the effective time of the Merger. Also pursuant to the Termination Agreement, the Advisor waived any disposition fee it otherwise would be entitled to receive from POSOR II with respect to the Merger. If, however, the Company is ultimately sold to another bidder, then the Advisor may be entitled to a disposition fee from POSOR II in an amount as set forth in the POSOR II Advisory Agreement. COVID-19

SCHEDULE III REAL ESTATE ASSETS

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	12 Months Ended
	Dec. 31, 2019
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION December 31, 2019 (dollar amounts in thousands) Initial Cost to Company Gross Amount at which Carried at Close of Period Description Location Ownership Percent Encumbrances Land Building and Improvements (1) Total Cost Capitalized Subsequent to Acquisition (2) Land Building and Improvements (1) Total (3) Accumulated Depreciation and Amortization Original Date of Construction Date Properties Held for Investment Richardson Portfolio: Palisades Central I Richardson, TX 90.0% $ (4) $ 1,037 $ 8,628 $ 9,665 $ 3,630 $ 1,037 $ 12,258 $ 13,295 $ (3,565) 1980 11/23/2011 Palisades Central II Richardson, TX 90.0% (4) 810 17,117 17,927 3,889 810 21,006 21,816 (5,486) 1985 11/23/2011 Greenway I Richardson, TX 90.0% (4) 561 1,170 1,731 977 561 2,147 2,708 (901) 1983 11/23/2011 Greenway III Richardson, TX 90.0% (4) 702 4,083 4,785 (318) 702 3,765 4,467 (1,321) 1983 11/23/2011 Undeveloped Land Richardson, TX 90.0% — 1,997 — 1,997 1,137 3,134 — 3,134 — N/A 11/23/2011 Total Richardson Portfolio 36,000 5,107 30,998 36,105 9,315 6,244 39,176 45,420 (11,273) Park Highlands (5) North Las Vegas, NV (5) — 17,066 — 17,066 17,101 34,167 — 34,167 — N/A 12/30/2011 Park Centre Austin, TX 100.0% 21,970 3,251 27,941 31,192 6,511 3,251 34,452 37,703 (6,334) 2000 03/28/2013 1180 Raymond Newark, NJ 100.0% 30,250 8,292 37,651 45,943 1,477 8,292 39,128 47,420 (7,897) 1929 08/20/2013 Park Highlands II (5) North Las Vegas, NV (5) — 20,118 — 20,118 6,960 27,078 — 27,078 — N/A 12/10/2013 Richardson Land II Richardson, TX 90.0% — 3,096 — 3,096 322 3,418 — 3,418 — N/A 09/04/2014 Crown Pointe Dunwoody, GA 100.0% 51,171 22,590 62,610 85,200 10,326 22,590 72,936 95,526 (11,753) 1985/1989 02/14/2017 The Marq Irving, TX 100.0% 53,408 10,387 75,878 86,265 9,366 10,387 85,244 95,631 (7,119) 1972 03/01/2018 City Tower Minneapolis, MN 100.0% 89,000 13,930 136,068 149,998 7,259 13,930 143,327 157,257 (12,823) 1988 03/06/2018 Eight & Nine Corporate Centre Orange, CA 100.0% 43,880 17,401 58,794 76,195 3,373 17,401 62,167 79,568 (4,356) 2007 06/08/2018 Georgia 400 Center Alpharetta, GA 100.0% 59,690 11,400 72,000 83,400 8,134 11,431 80,103 91,534 (3,053) 2001 05/23/2019 Single-Family Homes Portfolio: Birmingham Homes Birmingham, AL 100.0% (6) 2,442 11,133 13,575 75 2,444 11,206 13,650 (90) Various 11/04/2019 Houston Homes Houston, TX 100.0% (6) 6,157 22,855 29,012 183 6,154 23,041 29,195 (191) Various 11/04/2019 Jacksonville Homes Jacksonville, FL 100.0% (6) 2,986 24,236 27,222 175 2,986 24,411 27,397 (210) Various 11/04/2019 Memphis Homes Memphis, TN 100.0% (6) 2,679 15,767 18,446 163 2,679 15,930 18,609 (131) Various 11/04/2019 Atlanta Homes Atlanta, GA 100.0% (6) 783 3,870 4,653 34 783 3,904 4,687 (38) Various 11/04/2019 Oklahoma Homes Oklahoma City, OK 100.0% (6) 2,082 14,423 16,505 95 2,082 14,518 16,600 (113) Various 11/04/2019 Total Single-Family Homes Portfolio 61,900 17,129 92,284 109,413 725 17,128 93,010 110,138 (773) Total Properties $ 149,767 $ 594,224 $ 743,991 $ 80,869 $ 175,317 $ 649,543 $ 824,860 $ (65,381) ____________________ (1) Building and improvements includes tenant origination and absorption costs. (2) Costs capitalized subsequent to acquisition is net of write-offs of fully depreciated/amortized assets. (3) The aggregate cost of real estate for federal income tax purposes was $940.1 million (unaudited) as of December 31, 2019. (4) As of December 31, 2019, $36.0 million of debt was outstanding secured by the Richardson Portfolio. (5) 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. (6) The single-family homes portfolio, in aggregate are under encumbrance of $61.9 million. SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (CONTINUED) December 31, 2019 (dollar amounts in thousands) 2019 2018 2017 Real Estate (1) : Balance at the beginning of the year $ 730,962 $ 574,684 $ 1,227,207 Acquisitions 200,918 312,457 170,505 Improvements 34,435 31,818 37,219 Write-off of fully depreciated and fully amortized assets (1,060) (7,329) (18,735) Loss due to property damages — (964) (668) Sales (140,395) (178,068) (664,114) Reimbursement of construction costs — (1,636) — Deconsolidation — — (176,730) Balance at the end of the year $ 824,860 $ 730,962 $ 574,684 Accumulated depreciation and amortization (1) : Balance at the beginning of the year $ 49,842 $ 41,817 $ 120,176 Depreciation and amortization expense 31,961 32,661 48,994 Write-off of fully depreciated and fully amortized assets (1,060) (7,329) (18,735) Sales (15,362) (17,307) (102,474) Deconsolidation — — (6,144) Balance at the end of the year $ 65,381 $ 49,842 $ 41,817 ____________________ (1) Amounts include real estate held for sale.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership, Pacific Oak Strategic Opportunity BVI and their direct and indirect wholly owned subsidiaries, and 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. The consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
Use of Estimates	The preparation of the consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of the prior period. During the year ended December 31, 2019, the Company disposed of one office building, one retail property and one apartment property. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Upon the adoption of the lease accounting standards of Topic 842 on January 1, 2019, 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 years ended December 31, 2018 and 2017, the Company reclassified $2.2 million and $3.1 million of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes.
Revenue Recognition	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 determined to be 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 revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general-purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units and single-family homes 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 variable lease payments and would recognize rental income at the lesser of (1) on a straight-line basis or (2) cash 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. Sale of Real Estate Prior to January 1, 2018, gains on real estate sold were recognized using the full accrual method at closing when collectibility of the sales price was reasonably assured, the Company was not obligated to perform additional activities that may be considered significant, the initial investment from the buyer was sufficient and other profit recognition criteria had been satisfied. Gain on sales of real estate may have been deferred in whole or in part until the requirements for gain recognition had been met. Effective January 1, 2018, the Company adopted the guidance of ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”), which applies to sales or transfers to noncustomers of nonfinancial assets or in substance nonfinancial assets that do not meet the definition of a business. Generally, the Company’s sales of real estate would be considered a sale of a nonfinancial asset as defined by ASC 610-20. ASC 610-20 refers to the revenue recognition standard (Topic 606). Under ASC 610-20, if the Company determines it does not have a controlling financial interest in the entity that holds the asset and the arrangement meets the criteria to be accounted for as a contract, the Company would derecognize the asset and recognize a gain or loss on the sale of the real estate when control of the underlying asset transfers to the buyer. As a result of the adoption of ASC 610-20 on January 1, 2018, the Company recorded a cumulative effect adjustment to increase retained earnings by $2.5 million to recognize the deferred gain from the sale of 102 developable acres at Park Highlands that closed on May 1, 2017, as control of the sold acres had transferred to the buyers at closing. As of December 31, 2018 and 2019, the Company had recorded contract liabilities of $3.1 million, respectively, 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.
Real Estate Debt Securities	Interest income on the Company’s real estate debt securities is recognized on an accrual basis over the life of the investment using the interest method. Direct origination or acquisition fees and costs, as well as acquisition premiums or discounts, are amortized over the term of the securities as an adjustment to interest income. Income is recognized at an interest rate equivalent to the estimated yield on the real estate debt security, as calculated using the carrying value of the real estate debt security and the expected cash flows. Changes in estimated cash flows are recognized through an adjustment to the yield on the real estate debt security on a prospective basis. Projecting cash flows for these types of real estate debt securities requires a significant amount of assumptions and judgment, which may have a significant impact on the amount and timing of revenue recognized on these investments. The Company places real estate debt securities on nonaccrual status when any portion of principal or interest is 90 days past due, or earlier when concern exists as to the ultimate collection of principal or interest. When a real estate debt security is placed on nonaccrual status, the Company reserves for any unpaid accrued interest and generally does not recognize subsequent interest income until cash is received, or the real estate debt security returns to accrual status. The Company will resume the accrual of interest if it determines that the collection of interest, according to the contractual terms of the real estate debt security, is probable.
Real Estate Equity Securities	Dividend income from real estate equity securities is recognized on an accrual basis based on eligible shares as of the ex-dividend date.
Cash and Cash Equivalents	The Company recognizes interest income on its cash and cash equivalents as it is earned and records such amounts as other interest income.The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2019 and 2018. The Company’s cash and cash equivalents balance exceeded federally insurable limits as of December 31, 2019. The Company monitors the cash balances in its operating accounts and adjusts the cash balances as appropriate; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. To date, the Company has experienced no loss or lack of access to cash in its operating accounts.
Restricted Cash	Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for security deposits, property taxes, insurance, debt service obligations and capital improvements and replacements.
Depreciation and Amortization	Real estate costs related to the acquisition and improvement of properties are capitalized and depreciated over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25-40 years Building improvements 10-40 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods
Real Estate Acquisition Valuation	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination or an asset acquisition. If substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or group of similar identifiable assets, then the set is not a business. For purposes of this test, land and buildings can be combined along with the intangible assets for any in-place leases and accordingly, most acquisitions of investment properties would not meet the definition of a business and would be accounted for as an asset acquisition. To be considered a business, a set must include an input and a substantive process that together significantly contributes to the ability to create an output. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. For asset acquisitions, the cost of the acquisition is allocated to individual assets and liabilities on a relative fair value basis. Acquisition costs associated with business combinations are expensed as incurred. Acquisition costs associated with asset acquisitions are capitalized. Intangible assets include the value of in-place leases, which represents the estimated value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. Acquired in-place lease value will be amortized to expense over the average remaining terms of the respective in-place leases, including any below-market renewal periods. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease-up periods. The Company records the fair value of debt assumed in an acquisition 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. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property-operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods, and the number of years the property will be held for investment.
Impairments of Real Estate and Related Intangible Assets and Liabilities	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. The Company did not record any impairment losses on its real estate and related intangible assets and liabilities during the years ended December 31, 2019, 2018 and 2017.Projecting future cash flows involves estimating expected future operating income and expenses related to the real estate and its related intangible assets and liabilities as well as market and other trends. Using inappropriate assumptions to estimate cash flows could result in incorrect fair values of the real estate and its related intangible assets and liabilities and could result in the overstatement of the carrying values of the Company’s real estate and related intangible assets and liabilities and an overstatement of its net income.
Insurance Proceeds for Property Damages	The Company maintains an insurance policy that provides coverage for property damages and business interruption.  Losses due to physical damages are recognized during the accounting period in which they occur, while the amount of monetary assets to be received from the insurance policy is recognized when receipt of insurance recoveries is probable.  Losses, which are reduced by the related probable insurance recoveries, are recorded as operating, maintenance and management expenses on the accompanying consolidated statements of operations.  Anticipated proceeds in excess of recognized losses would be considered a gain contingency and recognized when the contingency related to the insurance claim has been resolved.  Anticipated recoveries for lost rental revenue due to property damages are also considered to be a gain contingency and recognized when the contingency related to the insurance claim has been resolved.
Real Estate Held for Sale and Discontinued Operations	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results and related gains on sale of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations.
Real Estate Securities	Real Estate Debt Securities The Company classifies its investment in real estate debt securities as held to maturity as the Company has the intent and ability to hold this investment until maturity. The Company’s real estate debt securities are recorded at amortized cost, net of other-than-temporary impairment (if any), and evaluated for other-than-temporary impairment at each balance sheet date. The amortized cost of a real estate debt security is the outstanding unpaid principal balance, net of unamortized acquisition premiums or discounts and unamortized costs and fees directly associated with the origination or acquisition of the real estate debt security. The amount of other-than-temporary impairment, if any, will be measured by comparing the amortized cost of the real estate debt security to the present value of the expected cash flows discounted at the real estate debt security’s effective interest rate, the real estate debt security’s observable market price, or the fair value of the collateral if the real estate debt security is collateral dependent and collection of principal and interest is not assured. If a real estate debt security is deemed to be other-than-temporarily impaired, the Company will record an other-than-temporary impairment on the consolidated statements of operations. During the year ended December 31, 2019, the Company converted all debt securities to Preferred Units and during the year ended December 31, 2018, the Company recorded an other-than-temporary impairment loss of $2.5 million related to its investment in real estate debt securities. See note 6, “Real Estate Debt Securities” for a further discussion on the other-than-temporary impairment loss recorded by the Company. The Company did not record any other-than-temporary impairment losses related to its real estate debt securities during the years ended December 31, 2019 and 2017. Real Estate Equity Securities The Company determines the appropriate classification for real estate equity securities at acquisition (on the trade date) and reevaluates such designation as of each balance sheet date. As of December 31, 2019 and 2018, the Company classified its investments in real estate equity securities as available-for-sale as the Company intends to hold the securities for the purpose of collecting dividend income and for longer term price appreciation. These investments are carried at their estimated fair value based on quoted market prices for the security, net of any discounts for restrictions on the sale of the security. Any discount for lack of marketability is estimated using an option pricing model. Transaction costs that are directly attributable to the acquisition of real estate equity securities are capitalized to its cost basis. Prior to the Company’s adoption of ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities
Investment in Unconsolidated Entities, Equity Method	The Company accounts for investments in unconsolidated joint venture entities in which the Company may exercise significant influence over, but does not control, using the equity method of accounting. Under the equity method, the investment is initially recorded at cost and subsequently adjusted to reflect additional contributions or distributions and the Company’s proportionate share of equity in the joint venture’s income (loss). The Company recognizes its proportionate share of the ongoing income or loss of the unconsolidated joint venture as equity in income (loss) of unconsolidated joint venture on the consolidated statements of operations. On a quarterly basis, the Company evaluates its investment in an unconsolidated joint venture for other-than-temporary impairments. The Company did not record any impairment losses related to its unconsolidated real estate joint ventures accounted for under the equity method during the years ended December 31, 2019, 2018 and 2017
Investment in Unconsolidated Entities, Equity Investment Without Readily Determinable Value	Prior to the adoption of ASU No. 2016-01 on January 1, 2018, the Company accounted for investments in unconsolidated joint venture entities in which the Company did not have the ability to exercise significant influence and had virtually no influence over partnership operating and financial policies using the cost method of accounting. Under the cost method, income distributions from the partnership were recognized in other income. Distributions that exceed the Company’s share of earnings were applied to reduce the carrying value of the Company’s investment and any capital contributions increased the carrying value of the Company’s investment. On a quarterly basis, the Company evaluated its cost method investment in an unconsolidated joint venture for other-than-temporary impairments. The fair value of a cost method investment was not estimated if there were no identified events or changes in circumstances that indicated a significant adverse effect on the fair value of the investment. The Company did not record any impairment losses related to its unconsolidated real estate joint ventures accounted for under the cost method during the year ended December 31, 2017. In accordance with ASU No. 2016-01, 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 NIP Joint Venture and Battery Point Series A-3 Preferred Units in accordance with the above guidance and applying it prospectively. As of December 31, 2019 and 2018, the Company recorded its investment in the NIP Joint Venture at a cost basis of $1.2 million and $1.5 million, respectively. Distributions of income from the NIP Joint Venture are recognized in other income. Distributions that exceed the Company’s share of earnings are applied to reduce the carrying value of the Company’s investment and any capital contributions would increase the carrying value of the Company’s investment. As of December 31, 2019, the Company recorded its investments in Battery Point Series A-3 Preferred Units at the cost basis of $14.0 million. As of December 31, 2019, the Company did not identify any indicators of impairment related these investments.
Rent and Other Receivables	Prior to January 1, 2019, the Company periodically evaluated the collectibility of amounts due from tenants and maintained an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. In addition, the Company maintained an allowance for deferred rent receivable that arose from the straight-lining of rents. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of its tenants in developing these estimates.
Deferred Financing Costs	Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Fair Value Measurements	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other 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. When available, the Company utilizes quoted market prices from an independent third-party source to determine fair value and classifies such items in Level 1 or Level 2. The Company would classify items as Level 3 in instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines that the market for a financial instrument owned by the Company is illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities.
Dividend Reinvestment Plan	The Company has adopted a dividend reinvestment plan (the “DRP”) through which future common stockholders may elect to reinvest an amount equal to the distributions declared on their shares in additional shares of the Company’s common stock in lieu of receiving cash distributions. On December 7, 2017, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $11.50 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, or net asset value, divided by the number of shares outstanding as of September 30, 2017, after giving effect to the December 7, 2017 declaration of a special dividend of $3.61 per share on the outstanding shares of the Company’s common stock to the stockholders of record as of the close of business on December 7, 2017 and the results of a self-tender. Commencing December 23, 2017, the purchase price per share under the DRP was $11.50. The Company’s board of directors has determined that any portion of the special dividend that was paid in cash in January 2018 would not be used to purchase additional shares under the dividend reinvestment plan. No selling commissions or dealer manager fees will be paid on shares sold under the DRP. On November 12, 2018, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $9.91 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, or net asset value, divided by the number of shares outstanding as of September 30, 2018, after giving effect to the November 12, 2018 declaration of a special dividend of $2.95 per share on the outstanding shares of the Company’s common stock to the stockholders of record as of the close of business on November 12, 2018. Commencing November 25, 2018, the purchase price per share under the DRP was $9.91. The Company’s board of directors has determined that any portion of the special dividend that was paid in cash in December 2018 would not be used to purchase additional shares under the dividend reinvestment plan. No selling commissions or dealer manager fees will be paid on shares sold under the DRP. On December 17, 2019, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $10.63 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, or net asset value, divided by the number of shares outstanding as of September 30, 2019. Commencing December 29, 2019, the purchase price per share under the DRP was $10.63.
Redeemable Common Stock	The Company has adopted a share redemption program that may enable stockholders to sell their shares to the Company in limited circumstances. Pursuant to the share redemption program there are several limitations on the Company’s ability to redeem shares: • Unless the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined under the share redemption program), the Company may not redeem shares until the stockholder has held the shares for one year. • During any calendar year, the Company may redeem no more than 5% of the weighted-average number of shares outstanding during the prior calendar year. • The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. • During any calendar year, the Company may redeem only the number of shares that the Company can purchase with the amount of net proceeds from the sale of shares under the its dividend reinvestment plan during the prior calendar year; provided, however, that this limit may be increased or decreased by us upon ten • The Company may not redeem more than $3.0 million of shares in a given quarter (excluding shares redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence”). To the extent that, in a given fiscal quarter, the Company redeems less than the sum of (a) $3.0 million of shares (excluding shares redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence”) and (b) any excess capacity carried over to such fiscal quarter from a prior fiscal quarter as described below, any remaining excess capacity to redeem shares in such fiscal quarter will be added to our capacity to otherwise redeem shares (excluding shares redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence”) during succeeding fiscal quarter. The Company may increase or decrease this limit upon ten Except for redemptions made upon a stockholder’s death, “qualifying disability” or “determination of incompetence”, the price at which the Company will redeem shares is 95% of the Company’s most recent estimated value per share as of the applicable redemption date. Upon the death, “qualifying disability” or “determination of incompetence” of a stockholder, the redemption price continued to be equal to the Company’s most recent estimated value per share. The proceeds from our dividend reinvestment plan in 2019 were $0.8 million. Therefore, in 2020 the Company may redeem no more than $0.8 million of shares in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence.” To the extent extra capacity is available with respect to redemptions in the last month of 2020, such capacity will be made available for redemption of shares other than in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence.” The Company’s board of directors may amend, suspend or terminate the share redemption program with ten In anticipation of a self-tender offer in order to make liquidity available to stockholders in excess of that permitted under the share redemption program, on March 14, 2018, the Company’s board of directors approved a temporary suspension of the share redemption program starting with the March 2018 redemption period, including any unsatisfied requests from prior redemption periods. In connection with its approval of the Self-Tender (defined below), the Company’s board of directors approved the reopening of the share redemption program for the June 2018 redemption period, meaning no redemptions were made in March, April or May 2018 (including those requested following a stockholder’s death, qualifying disability or determination of incompetence). The Company cancelled all outstanding redemption requests under the share redemption program and did not accept any redemption requests under the share redemption program during the term of the Self-Tender. On April 23, 2018, the Company commenced a self-tender offer (the “Self-Tender”) for up to 8,234,217 shares of common stock at a price of $10.93 per share, or approximately $90.0 million of shares. The Company increased the number of shares accepted for payment in the Self-Tender by up to 1,294,910 shares at a price of $10.93 per share, or approximately $14.1 million of shares. On June 1, 2018, the Company accepted for purchase 9,527,724 shares at a purchase price of $10.93 per share, or approximately $104.1 million of shares, excluding fees and expenses related to the Self-Tender. The Company records amounts that are redeemable under the share redemption program as redeemable common stock in its consolidated balance sheets because the shares will be mandatorily redeemable at the option of the holder and therefore their redemption will be outside the control of the Company. However, because the amounts that can be redeemed will be determinable and only contingent on an event that is likely to occur (e.g., the passage of time), the Company presents the net proceeds from the current year and prior year DRP, net of current year redemptions, as redeemable common stock in its consolidated balance sheets. The Company classifies as liabilities financial instruments that represent a mandatory obligation of the Company to redeem shares. The Company’s redeemable common shares are contingently redeemable at the option of the holder. When the Company determines it has a mandatory obligation to repurchase shares under the share redemption program, it will reclassify such obligations from temporary equity to a liability based upon their respective settlement values. The Company limits the dollar value of shares that may be redeemed under the program as described above. During the year ended December 31, 2019, the Company had redeemed $10.0 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 December 2019 redemption date, except for 5,813,699 shares totaling $58.7 million due to the limitations described above. The Company recorded $0.8 million and $10.0 million of redeemable common stock payable on the Company’s balance sheet as of December 31, 2019 and 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 $0.8 million available for redemptions during 2020, including shares that are redeemed in connection with a stockholders’ death, “qualifying disability” or “determination of incompetence,” subject to the limitations described above. In addition to the redemptions under the program described above, during the year ended December 31, 2019, the Company repurchased an additional 3,057 shares of common stock at $9.41 per share for an aggregate price of $29,000.
Related Party Transactions	Pursuant to advisory agreements with KBS Capital Advisors and the Advisor, the Company was or is obligated to pay the KBS Capital Advisors or Advisor specified fees upon the provision of certain services related to the investment of funds in real estate and real estate-related investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is or was obligated to reimburse the KBS Capital Advisors or Advisor for acquisition and origination expenses and certain operating expenses incurred on behalf of the Company or incurred in connection with providing services to the Company. In addition, KBS Capital Advisors and the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the applicable advisory agreement. See note 11, “Related Party Transactions.”The Company records all related party fees as incurred, subject to any limitations described in the advisory agreement. The Company had not incurred any subordinated participation in net cash flows or subordinated incentive listing fees payable to the Advisor through December 31, 2019.
Acquisition and Origination Fees	The Company pays the applicable advisor an acquisition and origination fee equal to 1% of the cost of investments acquired, or the amount funded by the Company to acquire or originate mortgage, mezzanine, bridge or other loans, including any acquisition and origination expenses related to such investments and any debt attributable to such investments.
Asset Management Fees	With respect to investments in loans and any investments other than real estate, the Company pays the applicable advisor a monthly fee calculated, each month, as one-twelfth of 0.75% of the lesser of (i) the amount paid or allocated to acquire or fund the loan or other investment, inclusive of acquisition and origination fees and expenses related thereto and the amount of any debt associated with or used to acquire or fund such investment and (ii) the outstanding principal amount of such loan or other investment, plus the acquisition and origination fees and expenses related to the acquisition or funding of such investment, as of the time of calculation. With respect to investments in real estate, the Company pays the applicable advisor a monthly asset management fee equal to one-twelfth of 0.75% of the amount paid or allocated to acquire the investment, including the cost of subsequent capital improvements, inclusive of acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment. In the case of investments made through joint ventures, the asset management fee is determined based on the Company’s proportionate share of the underlying investment, inclusive of the Company’s proportionate share of any fees and expenses related thereto.
Disposition Fee	For substantial assistance in connection with the sale of properties or other investments, the Company pays the applicable advisor or its affiliates 1.0% of the contract sales price of each property or other investment sold; provided, however, in no event may the disposition fees paid to the applicable advisor, its affiliates and unaffiliated third parties exceed 6.0% of the contract sales price.
Incentive Fee	See note 11, “Related Party Transactions,” for information about incentive and /or termination fees payable to KBS Capital Advisors and the Advisor.
Foreign Currency Transactions	The U.S. Dollar is the Company’s functional currency. Transactions denominated in currency other than the Company’s functional currency are recorded upon initial recognition at the exchange rate on the date of the transaction. After initial recognition, monetary assets and liabilities denominated in foreign currency are remeasured at each reporting date into the foreign currency at the exchange rate on that date. Exchange rate differences, other than those accounted for as hedging transactions, are recognized as foreign currency transaction gain or loss included in the Company’s consolidated statements of operations.
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 on its variable rate notes payable and enters into derivative instruments such as cross currency swaps, forward contracts, puts or calls for risk management purposes to hedge its exposure to variability in foreign currency exchange rates of the Israeli new Shekel versus the U.S. Dollar.  The Company records these derivative instruments at fair value on the accompanying consolidated balance sheets. Derivative instruments designated and qualifying as a hedge of the exposure to variability in expected future cash flows or other types of forecasted transactions are considered cash flow hedges. The change in fair value of the effective portion of a derivative instrument that is designated as a cash flow hedge is recorded as other comprehensive income (loss) on the accompanying consolidated statements of comprehensive income (loss) and consolidated statements of stockholders’ equity. The changes in fair value for derivative instruments that are not designated as a hedge or that do not meet the hedge accounting criteria are recorded as gain or loss on derivative instruments and included in earnings in the accompanying consolidated statements of operations.
Income Taxes	The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to its stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. The Company conducts certain business activities through taxable REIT subsidiaries. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to organize and operate in such a manner as to qualify for treatment as a REIT. The Company accounts for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the estimated future tax consequences attributable to the differences between the financial statement carrying amounts of existing assets and liabilities and their respective income tax bases, and for net operating loss, capital loss and tax credit carryforwards. The deferred tax assets and liabilities are measured using the enacted income tax rates in effect for the year in which those temporary differences are expected to be realized or settled. The effect on the deferred tax assets and liabilities from a change in tax rates is recognized in earnings in the period when the new rate is enacted. However, deferred tax assets are recognized only to the extent that it is more likely than not that they will be realized based on consideration of all available evidence, including the future reversals of existing taxable temporary differences, future projected taxable income and tax planning strategies. Valuation allowances are provided if, based upon the weight of the available evidence, it is more likely than not that some or all of the deferred tax assets will not be realized.
Segments	The Company has invested in opportunistic real estate, non-performing loans, other real estate-related assets and single-family homes. 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 non-performing loans, opportunistic real estate and other real estate-related assets may not be meaningful as these investments are generally non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views 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. The Company owns single-family homes in six markets and are all aggregated into one reportable business segment due to the homes being stabilized, having high occupancy rates and have similar economic characteristics.
Per Share Data	The Company applies the two-class method when computing its earnings per share. Net income per share for each class of stock is calculated by assuming all of the Company’s net income (loss) is distributed to each class of stock based on their contractual rights. Unvested restricted stock that contains non-forfeitable rights to distributions (whether paid or unpaid) are considered participating securities and are included in the computation of earnings per share. Basic earnings (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 earnings (loss) per share of common stock is computed based on the weighted-average number of shares of common stock outstanding during each period, plus potential common shares considered outstanding during the period, as long as the inclusion of such awards is not anti-dilutive. Potential common shares consist of unvested restricted stock, using the more dilutive of either the two-class method or the treasury stock method. The noncontrolling PORT Series A convertible redeemable preferred shares are not included as the preferred shares are convertible contingent on the common stock of PORT being publicly traded. Once PORT common stock is publicly traded, the per-share earnings of PORT will be included in the Company’s EPS computations based on the consolidated holdings of PORT.
Square Footage, Occupancy and Other Measures	Square footage, occupancy, number of tenants and other measures including annualized base rents and annualized base rents per square foot used to describe real estate and real-estate related investments included in these Notes to Consolidated Financial Statements are presented on an unaudited basis.
Recently Issued Accounting Standards Update	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 deems that the adoption of ASU No. 2016-13 does not have a material effect on its financial statements. In November 2018, the FASB issued ASU No. 2018-19, Codification Improvements to Topic 326, Financial Instruments - Credit Losses, which clarified that receivables from operating leases are not within the scope of Topic 326 and instead, impairment of receivables arising from operating leases should be accounted for in accordance with Topic 842. 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

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2019
Accounting Policies [Abstract]
Schedule of Estimated Useful Life	The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25-40 years Building improvements 10-40 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods

REAL ESTATE HELD FOR INVESTME_2

REAL ESTATE HELD FOR INVESTMENT (Tables)	12 Months Ended
	Dec. 31, 2019
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s real estate held for investment as of December 31, 2019 and 2018, respectively (in thousands): December 31, 2019 December 31, 2018 Land $ 175,317 $ 141,950 Buildings and improvements 618,974 426,604 Tenant origination and absorption costs 30,569 22,472 Total real estate, cost 824,860 591,026 Accumulated depreciation and amortization (65,381) (38,052) Total real estate, net $ 759,479 $ 552,974 The following table provides summary information regarding the Company’s real estate held for investment as of December 31, 2019 (in thousands): Property Date Acquired or Foreclosed on City State Property Type Land Building Tenant Origination and Absorption Total Real Estate, Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Richardson Portfolio: Palisades Central I 11/23/2011 Richardson TX Office $ 1,037 $ 12,258 $ — $ 13,295 $ (3,565) $ 9,730 90.0% Palisades Central II 11/23/2011 Richardson TX Office 810 21,006 — 21,816 (5,486) 16,330 90.0% Greenway I 11/23/2011 Richardson TX Office 561 2,147 — 2,708 (901) 1,807 90.0% Greenway III 11/23/2011 Richardson TX Office 702 3,765 — 4,467 (1,321) 3,146 90.0% Undeveloped Land 11/23/2011 Richardson TX Undeveloped Land 3,134 — — 3,134 — 3,134 90.0% Total Richardson Portfolio 6,244 39,176 — 45,420 (11,273) 34,147 Park Highlands (1) 12/30/2011 North Las Vegas NV Undeveloped Land 34,167 — — 34,167 34,167 (1) Park Centre 03/28/2013 Austin TX Office 3,251 34,452 — 37,703 (6,334) 31,369 100.0% 1180 Raymond 08/20/2013 Newark NJ Apartment 8,292 39,128 — 47,420 (7,897) 39,523 100.0% Park Highlands II (1) 12/10/2013 North Las Vegas NV Undeveloped Land 27,078 — — 27,078 — 27,078 (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 68,106 4,830 95,526 (11,753) 83,773 100.0% The Marq (2) 03/01/2018 Minneapolis MN Office 10,387 81,065 4,179 95,631 (7,119) 88,512 100.0% City Tower 03/06/2018 Orange CA Office 13,930 135,390 7,937 157,257 (12,823) 144,434 100.0% Eight & Nine Corporate Centre 06/08/2018 Franklin TN Office 17,401 57,595 4,572 79,568 (4,356) 75,212 100.0% Georgia 400 Center 05/23/2019 Alpharetta GA Office 11,431 72,529 7,574 91,534 (3,053) 88,481 100.0% Single-Family Homes Portfolio Birmingham Homes 11/04/2019 Birmingham AL Home 2,444 11,044 162 13,650 (90) 13,560 100.0% Houston Homes 11/04/2019 Houston TX Home 6,154 22,609 432 29,195 (191) 29,004 100.0% Jacksonville Homes 11/04/2019 Jacksonville FL Home 2,986 24,058 353 27,397 (210) 27,187 100.0% Memphis Homes 11/04/2019 Memphis TN Home 2,679 15,664 266 18,609 (131) 18,478 100.0% Atlanta Homes 11/04/2019 Atlanta GA Home 783 3,839 65 4,687 (38) 4,649 100.0% Oklahoma Homes 11/04/2019 Oklahoma City OK Home 2,082 14,319 199 16,600 (113) 16,487 100.0% Total Single-Family Homes Portfolio 17,128 91,533 1,477 110,138 (773) 109,365 $ 175,317 $ 618,974 $ 30,569 $ 824,860 $ (65,381) $ 759,479 _____________________ (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.
Lessor, Operating Lease, Payments to be Received, Maturity	As of December 31, 2019, the future minimum rental income from the Company’s properties, excluding apartment and single-family home leases, under non-cancelable operating leases was as follows (in thousands): 2020 $ 53,396 2021 50,295 2022 44,112 2023 35,871 2024 30,396 Thereafter 67,980 $ 282,050
Schedules of Concentration of Risk, by Risk Factor	As of December 31, 2019, the Company’s commercial real estate properties were leased to approximately 229 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 Insurance 26 $ 7,817 14.1 % Health Care and Social Services 16 7,021 12.7 % Computer Systems 24 6,852 12.4 % $ 21,690 39.2 % _____________________
Schedule of Business Acquisitions, Properties Acquired	The fair values of the assets acquired and liabilities assumed at the closing date were as follows: Assets: Land $ 17,126 Building and improvements 91,320 Tenant origination and absorption costs 1,477 Cash and cash equivalents 8,104 Restricted cash 1,667 Rents and other receivables 989 Prepaid expenses and other assets 634 Liabilities: Notes payable (61,885) Accounts payable and accrued liabilities (1,893) Other liabilities (904) Total cash paid for acquisition $ 56,635
Business Acquisition, Pro Forma Information	The following unaudited pro forma results of operations reflect the Company’s results as if the acquisition of Reven had occurred on January 1, 2019. The information is not necessarily indicative of the results that actually would have occurred, nor does it indicate future operating results. All significant adjustments necessary to reflect the effects have been made. For the year ended December 31, 2019: Revenues $ 102,540 Expenses (116,370) Net loss $ (13,830)

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	As of December 31, 2019 and 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 Above-Market Below-Market December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 December 31, 2019 December 31, 2018 Cost $ 30,569 $ 22,472 $ 3,714 $ 3,714 $ (4,958) $ (4,406) Accumulated Amortization (10,223) (5,255) (741) (337) 1,778 878 Net Amount $ 20,346 $ 17,217 $ 2,973 $ 3,377 $ (3,180) $ (3,528)
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the years ended December 31, 2019, 2018 and 2017 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2019 2018 2017 2019 2018 2017 2019 2018 2017 Amortization $ (7,036) $ (7,895) $ (10,265) $ (404) $ (361) $ (283) $ 1,495 $ 1,513 $ 2,858
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2019 will be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Above-Market Below-Market 2020 $ (6,470) $ (315) $ 866 2021 (4,226) (297) 560 2022 (3,104) (297) 507 2023 (2,106) (297) 416 2024 (1,745) (297) 407 Thereafter (2,695) (1,470) 424 $ (20,346) $ (2,973) $ 3,180 Weighted-Average Remaining Amortization Period 4.8 years 10.5 years 5.1 years

REAL ESTATE EQUITY SECURITIES (

REAL ESTATE EQUITY SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Real Estate Equity Securities	The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of December 31, 2019 and December 31, 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Real Estate Equity Security Number of Shares Owned Total Carrying Value Number of Shares Owned Total Carrying Value Whitestone REIT — $ — 1,781,894 $ 21,846 Keppel Pacific Oak US REIT 64,165,352 50,049 56,979,352 34,757 Franklin Street Properties Corp. 2,773,729 23,743 2,772,529 17,273 Plymouth Industrial REIT, Inc. 415,841 7,647 — — 67,354,922 $ 81,439 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 years ended December 31, 2019 and 2018 (in thousands): For the Years Ended December 31, 2019 2018 Net gain (loss) recognized during the period on real estate equity securities $ 20,379 $ (19,010) Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period 4,158 (837) Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at period end $ 16,221 $ (18,173)

REAL ESTATE DEBT SECURITIES (Ta

REAL ESTATE DEBT SECURITIES (Tables)	12 Months Ended
	Dec. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Activity of Real Estate Debt Securities	The information for the real estate debt securities as of December 31, 2019 and 2018 is set forth below (in thousands): Debt Securities Name Date Acquired Debt Securities Type Outstanding Principal Balance as of December 31, 2019 Book Value as of December 31, 2019 Book Value as of December 31, 2018 Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Battery Point Series B Preferred Units 10/28/2016 / Series B Preferred Units $ — $ — $ 10,859 (1) (1) (1) _____________________ (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 year ended December 31, 2019 (in thousands): Real estate debt securities - December 31, 2018 $ 10,859 Principal repayment (7,750) Deferred interest receivable and interest accretion (2,992) Receipt of deferred interest receivable (130) Accretion of commitment fee, net of closing costs 4 Other-than-temporary impairment 9 Real estate debt securities - December 31, 2019 $ —
Schedule of Interest Income from Real Estate Debt Securities	For the years ended December 31, 2019, 2018 and 2017, interest income from real estate debt securities consisted of the following (in thousands): For the Years Ended December 31, 2019 2018 2017 Contractual interest income $ 356 $ 1,910 $ 1,217 Interest accretion 4 59 315 Accretion of commitment fee, net of closing costs and acquisition fee 9 49 250 Interest income from real estate debt securities $ 369 $ 2,018 $ 1,782

REAL ESTATE DISPOSITIONS (Table

REAL ESTATE DISPOSITIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Assets and Liabilities of Real Estate Held-for-Sale	The following summary presents the major components of assets and liabilities related to real estate held for sale as of December 31, 2019 and December 31, 2018 (in thousands): December 31, 2019 December 31, 2018 Assets related to real estate held for sale Real estate, cost $ — $ 139,936 Accumulated depreciation and amortization — (11,790) Real estate, net — 128,146 Other assets — 5,503 Total assets related to real estate held for sale $ — $ 133,649 Liabilities related to real estate held for sale Notes payable, net — 86,424 Other liabilities — 1,477 Total liabilities related to real estate held for sale $ — $ 87,901
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 years ended December 31, 2019, 2018 and 2017 (in thousands): Years Ended December 31, 2019 2018 2017 Revenues Rental income $ 11,458 $ 30,744 $ 94,073 Other operating income 911 1,171 5,668 Total revenues $ 12,369 $ 31,915 $ 99,741 Expenses Operating, maintenance, and management $ 3,423 $ 9,117 $ 28,931 Real estate taxes and insurance 2,217 4,035 12,188 Asset management fees to affiliate 784 2,435 6,458 Depreciation and amortization 3,784 13,066 39,038 Interest expense 2,459 8,083 17,974 Total expenses $ 12,667 $ 36,736 $ 104,589

NOTES AND BONDS PAYABLE (Tables

NOTES AND BONDS PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2019
Notes and Bonds Payable [Abstract]
Schedule of Long-term Debt Instruments	As of December 31, 2019 and December 31, 2018, the Company’s notes and bonds payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands): Book Value as of Book Value as of Contractual Interest Rate as of December 31, 2019 (1) Interest Rate at December 31, 2019 (1) Payment Type (3) Maturity Date (2) Richardson Portfolio Mortgage Loan $ 36,000 $ 36,000 One-Month LIBOR + 2.50% 4.19% Interest Only 11/01/2021 Park Centre Mortgage Loan (4) 21,970 8,404 One-Month LIBOR + 1.75% 3.44% Interest Only 06/27/2022 Burbank Collection Mortgage Loan — 10,716 (5) (5) (5) (5) 1180 Raymond Mortgage Loan 30,250 30,637 One-Month LIBOR + 2.25% 3.96% Principal & Interest 06/01/2020 1180 Raymond Bond Payable 6,080 6,280 6.50% 6.50% Principal & Interest 09/01/2036 424 Bedford Mortgage Loan (6) — 23,710 (6) (6) (6) (6) Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures 224,746 259,516 4.25% 4.25% (7) 03/01/2023 Crown Pointe Mortgage Loan (8) 51,171 51,171 One-Month LIBOR + 2.60% 4.29% Interest Only 2/13/2020 (8) 125 John Carpenter Mortgage Loan (9) — 53,204 (9) (9) (9) (9) City Tower Mortgage Loan 89,000 89,000 One-Month LIBOR + 1.55% 3.24% Interest Only 03/05/2021 Marquette Plaza Mortgage Loan 53,408 50,800 One-Month LIBOR + 1.55% 3.24% Interest Only 06/06/2021 Eight & Nine Corporate Centre Mortgage Loan 43,880 43,880 One-Month LIBOR + 1.60% 3.29% Interest Only 06/08/2021 Georgia 400 Center Mortgage Loan 59,690 — One-Month LIBOR + 1.55% 3.24% Interest Only 05/22/2023 PORT Mortgage Loan 1 51,362 — 4.74% 4.74% Interest Only 10/01/2025 PORT Mortgage Loan 2 10,523 — 4.72% 4.72% Interest Only 03/01/2026 Total Notes and Bonds Payable principal outstanding 678,080 663,318 Net Premium/(Discount) on Notes and Bonds Payable (10) 783 198 Deferred financing costs, net (5,200) (8,044) Total Notes and Bonds Payable, net $ 673,663 $ 655,472 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2019. The interest rate is calculated as the actual interest rate in effect as of December 31, 2019 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at December 31, 2019, where applicable. (2) Represents the initial maturity date or the maturity date as extended as of December 31, 2019; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown. (3) Represents the payment type required under the loan as of December 31, 2019. Certain future monthly payments due under this loan also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes and bonds payable, see five-year maturity table below. (4) On June 27, 2019, the Company closed on the refinancing of the Park Centre Mortgage Loan. (5) On July 19, 2019, in connection with the disposition of the Burbank Collection, the Burbank Collection Joint Venture repaid the $10.6 million outstanding principal balance due under the Burbank Collection Mortgage Loan. (6) 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. (7) See “ - Israeli Bond Financing” below. (8) Subsequent to December 31, 2019, the Company extended the maturity of the Crown Pointe Mortgage Loan to February 13, 2021. (9) On November 1, 2019, in connection with the disposition of 125 John Carpenter, the Company repaid the $53.2 million outstanding principal balance due under the 125 John Carpenter Mortgage Loan. (10) 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 December 31, 2019 (in thousands): 2020 $ 137,958 2021 278,554 2022 78,396 2023 116,132 2024 270 Thereafter 66,770 $ 678,080

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional and Fair Value of Interest Rate Swaps Designated as Cash Flow Hedges	The following table summarizes the notional amount and other information related to the Company’s foreign currency collar and foreign currency option as of December 31, 2019 and 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): December 31, 2019 December 31, 2018 Strike Price Trade Date Maturity Date Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Foreign currency collar 1 776,182 ILS — — 3.38 - 3.4991 ILS - USD 11/25/2019 02/26/2020 (1) Foreign currency collar — — 1 776,182 ILS 3.54 - 3.66 ILS - USD 08/20/2018 02/28/2019 _____________________ (1) On March 16, 2020, the Company entered into a foreign currency collar with an aggregate Israeli new Shekels notional amount of 418.0 million which expires on September 16, 2020. The foreign currency collar consists of a purchased call option to buy Israeli new Shekels at 3.5875 and a sold put option to sell the Israeli new Shekels at 3.725. The foreign currency collar is intended to permit the Company to exchange, on the settlement date of the collar, 418.0 million Israeli new Shekels for an amount ranging from $112.2 million to $116.5 million. On March 17, 2020, the Company entered into a foreign currency collar with an aggregate Israeli new Shekels notional amount of 380.0 million which expires on September 16, 2020. The foreign currency collar consists of a purchased call option to buy Israeli new Shekels at 3.700 and a sold put option to sell the Israeli new Shekels at 3.820. The foreign currency collar is intended to permit the Company to exchange, on the settlement date of the collar, 380.0 million Israeli new Shekels for an amount ranging from $99.5 million to $102.7 million. 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%
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 December 31, 2019 and 2018 (dollars in thousands): December 31, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Instruments Fair Value Derivative instruments not designated as hedging instruments Interest rate caps Prepaid expenses and other assets 3 $ 12 2 $ 34 Foreign currency collar Other liabilities 1 $ (179) 1 $ (4,393)

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Face Value, Carrying Amounts and Fair Value	The following were the face values, carrying amounts and fair values of the Company’s financial instruments as of December 31, 2019 and 2018, which carrying amounts do not approximate the fair values (in thousands): December 31, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate debt securities (1) $ — $ — $ — $ 13,000 $ 10,859 $ 10,859 Financial liabilities: Notes and bond payable $ 453,334 $ 451,743 $ 455,849 $ 403,802 $ 400,470 $ 407,449 Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures $ 224,746 $ 221,920 $ 229,877 $ 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 December 31, 2019, the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Real estate equity securities $ 81,439 $ 81,439 $ — $ — Asset derivative - interest rate caps $ 12 $ — $ 12 $ — Liability derivative - foreign currency collar $ (179) $ — $ (179) $ — As of December 31, 2018, the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Real estate equity securities $ 73,876 $ 73,876 $ — $ — Asset derivative - interest rate caps $ 34 $ — $ 34 $ — Liability derivative - foreign currency collar $ (4,393) $ — $ (4,393) $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2019
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the years ended December 31, 2019, 2018 and 2017, respectively, and any related amounts payable as of December 31, 2019 and December 31, 2018 (in thousands): Incurred Payable as of 2019 2018 2017 2019 2018 Expensed Asset management fees $ 8,158 $ 8,525 $ 10,686 $ 1,498 $ — Acquisition fees on business combination (1) 1,185 — — — — Reimbursable operating expenses (2) 236 410 241 — 29 Disposition fees (3) 1,570 2,494 8,352 — — KBS Capital Advisors Termination Fee (4) 32,640 — — (4) — Capitalized Acquisition fees on real estate (1) 897 3,094 907 — — Acquisition fees on real estate equity securities — 239 429 — 7 Acquisition fee on investment in unconsolidated entities 207 — — 137 — $ 44,893 $ 14,762 $ 20,615 $ 1,635 $ 36 _____________________ (1) Acquisition fees associated with asset acquisitions are capitalized, while costs associated with business combinations expensed as incurred. (2) The relevant advisor may seek reimbursement for certain employee costs under the relevant advisory agreement. The Company has reimbursed the relevant 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 $220,000, $305,000 and $225,000 for the years ended December 31, 2019, 2018 and 2017, respectively, and were the only employee costs reimbursed under the relevant 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 relevant advisor for certain of the Company’s direct costs incurred from third parties that were initially paid by the relevant advisor on behalf of the Company. (3) 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. Disposition fees with respect to the assignment of the Company's real estate loan receivable are included in general and administrative expenses in the accompanying consolidated statements of operations.

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Tables)	12 Months Ended
	Dec. 31, 2019
Equity Method Investments and Joint Ventures [Abstract]
Schedule of Investments in Unconsolidated Joint Ventures	As of December 31, 2019 and 2018, the Company’s investments in unconsolidated entities were composed of the following (dollars in thousands): Number of Properties at December 31, 2019 Investment Balance at Joint Venture Location Ownership % December 31, 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% 42,214 43,068 Battery Point Series A-3 Preferred Units N/A N/A N/A 13,991 — Pacific Oak Opportunity Zone Fund I 2 Various N/A 20,846 — $ 78,276 $ 44,869 Summarized financial information for the 110 William Joint Venture follows (in thousands): December 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 242,430 $ 235,613 Other assets 35,747 37,337 Total assets $ 278,177 $ 272,950 Liabilities and equity: Notes payable, net $ 292,221 $ 267,311 Other liabilities 10,664 7,485 Partners’ deficit (24,708) (1,846) Total liabilities and equity $ 278,177 $ 272,950 For the Years Ended December 31, 2019 2018 2017 Revenues $ 34,186 $ 38,539 $ 37,338 Expenses: Operating, maintenance, and management 9,213 9,844 10,056 Real estate taxes and insurance 7,064 6,718 6,281 Depreciation and amortization 11,166 15,596 16,544 Interest expense 16,742 17,815 13,134 Total expenses 44,185 49,973 46,015 Total other income 137 112 56 Net loss $ (9,862) $ (11,322) $ (8,621) Company’s share of net loss (1) $ 5,917 $ (6,835) $ (5,214) _____________________ (1) During the year ended December 31, 2019, the Company recorded $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): December 31, 2019 December 31, 2018 Assets: Real estate assets, net of accumulated depreciation and amortization $ 180,592 $ 180,852 Other assets 21,822 13,123 Total assets $ 202,414 $ 193,975 Liabilities and equity: Notes payable, net $ 115,280 $ 105,593 Other liabilities 11,193 10,863 Partners’ capital 75,941 77,519 Total liabilities and equity $ 202,414 $ 193,975 For the Year Ended December 31, 2019 For the Year Ended December 31, 2018 For the Period from July 6, 2017 to December 31, 2017 Revenues $ 17,015 $ 11,397 $ 7,053 Expenses: Operating, maintenance, and management 3,785 3,654 2,189 Real estate taxes and insurance 2,822 2,372 1,198 Depreciation and amortization 6,485 5,680 3,408 Interest expense 5,734 5,374 2,302 Total expenses 18,826 17,080 9,097 Net loss $ (1,811) $ (5,683) $ (2,044) Company’s equity in loss of unconsolidated joint venture $ (854) $ (2,995) $ (823)

SUPPLEMENTAL CASH FLOW AND SI_2

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2019
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]
Schedule of Cash Flow, Supplemental Disclosures	Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands): Years Ended December 31, 2019 2018 2017 Supplemental Disclosure of Cash Flow Information: Interest paid, net of capitalized interest of $2,739, $2,565 and $2,339 for the years ended December 31, 2019, 2018 and 2017, respectively $ 25,703 $ 27,029 32,688 Supplemental Disclosure of Significant Noncash Transactions: Assets and liabilities deconsolidated in connection with the 353 Sacramento partial sale: Real estate, net — — 170,586 Rents and other receivables, net — — 1,244 Prepaid expenses and other assets — — 555 Notes payable, net — — 87,132 Accounts payable and accrued liabilities — — 1,574 Below-market leases, net — — 2,960 Other liabilities — — 924 Assets and liabilities consolidated in connection with the PORT acquisition: Cash 8,104 — — Restricted cash 1,667 — — Rents and other receivables 989 — — Prepaid expenses and other assets 634 — — Real estate held for investment 109,922 — — Notes payable 61,885 — — Accounts payable and accrued liabilities 1,893 — — Other liabilities 904 — — Acquisition fees due to affiliates on investment in unconsolidated entities 137 — — Accrued improvements to real estate 5,302 3,363 3,717 Redeemable common stock payable 829 10,000 8,595 Restricted stock payable 16,320 — — Mezzanine equity in connection with subordinated performance fee due upon termination 10,880 — — Restricted stock (additional paid in capital) in connection with subordinated performance fee due upon termination 5,440 — — Mortgage loan assumed by buyer in connection with sale of real estate 23,663 — — Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units 2,992 — — Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan 829 1,418 8,666 Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend — 150,299 — Distributions paid to common stockholders through common stock issuances pursuant to the November 2018 special dividend — 127,911 —

REPORTING SEGMENTS (Tables)

REPORTING SEGMENTS (Tables)	12 Months Ended
	Dec. 31, 2019
Segment Reporting [Abstract]
Schedule of Segment Reporting Information, by Segment	The selected financial information for the two reporting segments for the year ended December 31, 2019 is as follows: Year Ended December 31, 2019 Strategic Opportunistic Properties Single-Family Homes Total Total revenues $ 91,351 $ 1,807 $ 93,158 Total expenses (130,516) (2,374) (132,890) Total other income (loss) 28,944 (4,461) 24,483 Net loss before income taxes $ (10,221) $ (5,028) $ (15,249) Total assets related to the two reporting segments as of December 31, 2019 are as follows: December 31, 2019 Strategic Opportunistic Properties Single-Family Homes Total Total assets $ 921,917 $ 119,325 $ 1,041,242

PORT PREFERRED STOCK (Tables)

PORT PREFERRED STOCK (Tables)	12 Months Ended
	Dec. 31, 2019
Equity [Abstract]
Schedule of Stock by Class	Series A Prefered Stock Series B Prefered Stock Shares Amounts Shares Amounts Issuance of preferred stock 15,000 $ 15,000 125 $ 125 Other offering costs — (91) — (26) Balance, December 31, 2019 15,000 $ 14,909 125 $ 99

SELECTED QUARTERLY FINANCIAL _2

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Tables)	12 Months Ended
	Dec. 31, 2019
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2019 and 2018 (in thousands, except per share amounts): 2019 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 21,911 $ 21,689 $ 25,282 $ 24,276 Net income (loss) $ 17,460 $ (6,301) $ 2,290 $ (28,630) Net income (loss) attributable to common stockholders $ 16,781 $ (6,249) $ 772 $ (28,586) Net income (loss) per common share, basic and diluted $ 0.25 $ (0.09) $ 0.01 $ (0.43) Distributions declared per common share $ 0.009 $ 0.009 $ 0.009 $ — 2018 First Quarter Second Quarter Third Quarter Fourth Quarter Revenues $ 19,636 $ 25,290 $ 27,156 $ 23,705 Net income (loss) $ (23,702) $ 9,993 $ 36,421 $ 10,612 Net income (loss) attributable to common stockholders $ (23,681) $ 10,036 $ 36,497 $ 10,694 Net income (loss) per common share, basic and diluted $ (0.38) $ 0.16 $ 0.67 $ 0.19 Distributions declared per common share $ 0.016 $ 0.016 $ 0.016 $ 2.950

ORGANIZATION (Details)

ORGANIZATION (Details) $ in Thousands	Feb. 16, 2020USD ($)	Nov. 01, 2019	Mar. 20, 2019USD ($)	Mar. 08, 2016ILS (₪)	Mar. 08, 2016USD ($)	Mar. 08, 2016ILS (₪)	Mar. 07, 2016ILS (₪)	Mar. 02, 2016ILS (₪)	Mar. 01, 2016ILS (₪)	Mar. 31, 2016	Dec. 31, 2020USD ($)	Dec. 31, 2019USD ($)ainvestmentpropertyportfolioshares	Dec. 31, 2018USD ($)shares	Dec. 31, 2017USD ($)shares	Dec. 31, 2019USD ($)ainvestmentpropertyportfolioshares	Feb. 16, 2020ILS (₪)	Dec. 18, 2015certificateshares	Oct. 23, 2012USD ($)shares	Dec. 29, 2011USD ($)shares	Jan. 08, 2009shares
Organizational Structure [Line Items]
Common stock, shares authorized (in shares)												1,000,000,000	1,000,000,000		1,000,000,000
Common stock, shares issued (in shares)												65,866,765	66,822,861		65,866,765			55,249	220,994
Period of termination of advisory agreement without cause or penalty		30 days
Period of termination of renewal of advisory agreement without cause or penalty		90 days
Issuance of common stock | $												$ 835	$ 1,418	$ 8,666
Shares of common stock sold under dividend reinvestment plan | $															$ 76,300
Redemptions of common stock | $			$ 8,600									$ 10,028	123,613	$ 74,780	$ 285,400
Common stock, special dividends, amount of shares issued												25,976,746			25,976,746
Common stock, value, issued | $												$ 659	$ 668		$ 659			$ 500	$ 2,000
Number of investments in unconsolidated joint venture | investment												5			5
Number of investments in equity securities | investment												3			3
Office Properties
Organizational Structure [Line Items]
Number of real estate properties | property												6			6
Office Portfolio
Organizational Structure [Line Items]
Number of real estate properties | portfolio												1			1
Office Buildings, Portfolio
Organizational Structure [Line Items]
Number of real estate properties | property												4			4
Undeveloped Land, Portfolio
Organizational Structure [Line Items]
Real estate area of undeveloped land | a												14			14
Apartment Properties, Portfolio
Organizational Structure [Line Items]
Number of real estate properties | property												1			1
Undeveloped Land
Organizational Structure [Line Items]
Real estate area of undeveloped land | a												1,000			1,000
Number of investments in real estate | investment												3			3
Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures | Bonds Payable
Organizational Structure [Line Items]
Maximum borrowing capacity | ₪								₪ 1,000,000,000
Contractual interest rate, percentage								4.25%
Interest rate during period										4.25%
Proceeds from issuance of debt				₪ 970,200,000	$ 249,200	₪ 970,200,000	₪ 127,700,000		₪ 842,500,000
Pacific Oak SOR (BVI) Holdings, Ltd. Series B Debentures | Bonds Payable | Subsequent Event
Organizational Structure [Line Items]
Maximum borrowing capacity	$ 74,100															₪ 254,100,000
Contractual interest rate, percentage	3.93%															3.93%
Principal of installment payments as percent of face amount	33.33%
Maximum | Subsequent Event
Organizational Structure [Line Items]
Shares of common stock sold under dividend reinvestment plan | $											$ 800
Maximum | Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures | Bonds Payable
Organizational Structure [Line Items]
Contractual interest rate, percentage								4.25%
Interest rate during period								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)												84,248	123,264	585,192	56,584,976
Issuance of common stock | $												$ 1	$ 1	$ 6	$ 561,700
Shares of common stock sold under dividend reinvestment plan (in shares)															6,827,324
Redemptions of common stock (in shares)												1,040,344	11,330,966	5,307,142	23,819,074
Redemptions of common stock | $												$ 10	$ 113	$ 53
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
Operating Partnership
Organizational Structure [Line Items]
Partnership interest in operating partnership												0.10%
Partnership interest in the operating partnership and is its sole limited partner												99.90%
Pacific Oak Strategic Opportunity BVI
Organizational Structure [Line Items]
Common stock, shares authorized (in shares)																	50,000
Number of certificates issued | certificate																	1
Pacific Oak Strategic Opportunity BVI | Pacific Oak Strategic Opportunity Limited Partnership
Organizational Structure [Line Items]
Common stock, shares issued (in shares)																	10,000

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Reclassification and Restricted Cash) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)property	Dec. 31, 2017USD ($)property
Accounting Policies [Abstract]
Impairment of real estate | $	$ 0	$ 0	$ 0
Restricted cash and cash equivalents | $	$ 0	0
Accounting Standards Update 2016-02
Real Estate [Line Items]
Tenant reimbursement revenue | $		$ 2,200,000	$ 3,100,000
Office Properties | Disposed of by Sale
Real Estate [Line Items]
Number of real estate properties disposed | property	1	1	12
Retail Property | Disposed of by Sale
Real Estate [Line Items]
Number of real estate properties disposed | property	1
Apartment Building | Disposed of by Sale
Real Estate [Line Items]
Number of real estate properties disposed | property	1

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Revenue Recognition and Equity Securities) (Details) $ in Thousands	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Jan. 01, 2018USD ($)a	Dec. 31, 2017USD ($)
Summary of Significant Accounting Policies [Line Items]
Cumulative effect adjustments to retained earnings				$ 2,472
Contract with customer, liability	$ 3,100	$ 3,100
Park Highlands | Undeveloped Land | Disposed of by Sale
Summary of Significant Accounting Policies [Line Items]
Area of land sold | a			102
Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect adjustments to retained earnings				$ 27,618
Accounting Standards Update 2014-09 | Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect adjustments to retained earnings			$ 2,500
Accounting Standards Update 2016-01 | Retained Earnings
Summary of Significant Accounting Policies [Line Items]
Cumulative effect adjustments to retained earnings			$ 25,100

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Schedule of Useful Life) (Details)	12 Months Ended
	Dec. 31, 2019
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful life	25 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Building improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful life	10 years
Building improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful life	40 years
Tenant improvements
Property, Plant and Equipment [Line Items]
Estimated useful lives	Shorter of lease term or expected useful life
Tenant origination and absorption costs
Property, Plant and Equipment [Line Items]
Estimated useful lives	Remaining term of related leases, including below-market renewal periods

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Investments in Unconsolidated Joint Ventures) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Investments in unconsolidated entities	$ 78,276	$ 44,869
NIP Joint Venture
Schedule of Available-for-sale Securities [Line Items]
Investments in unconsolidated entities	1,225	1,476
Battery Point Series A-3 Preferred Units
Schedule of Available-for-sale Securities [Line Items]
Investments in unconsolidated entities	$ 13,991	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Dividend Reinvestment Plan) (Details) - $ / shares	Dec. 29, 2019	Dec. 17, 2019	Nov. 12, 2018	Dec. 07, 2017
Accounting Policies [Abstract]
Updated primary offering price (in dollars per share)	$ 10.63	$ 10.63	$ 9.91	$ 11.50
Special dividends declared (in dollars per share)			$ 2.95	$ 3.61

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Common Stock) (Details) - USD ($)	Mar. 20, 2019	Jun. 01, 2018	Apr. 23, 2018	Dec. 30, 2016	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Summary of Significant Accounting Policies [Line Items]
Share holding term						1 year
Maximum percentage of weighted-average shares outstanding available for redemption during any calendar year						5.00%
Share redemption program, termination period				10 days		10 days
Maximum number of shares redeemable per quarter, value						$ 3,000,000
Redemption price percentage of most recent estimated value per share				95.00%
Proceeds from issuance of common stock, dividend reinvestment plan						800,000
Shares of common stock sold under dividend reinvestment plan									$ 76,300,000
Redemptions of common stock	$ 8,600,000					10,028,000	$ 123,613,000	$ 74,780,000	285,400,000
Other liabilities						19,801,000	21,006,000		19,801,000
Common Stock
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock						$ 10,000	113,000	$ 53,000
Maximum | Subsequent Event
Summary of Significant Accounting Policies [Line Items]
Shares of common stock sold under dividend reinvestment plan					$ 800,000
Self-tender Offer (SOR Offer)
Summary of Significant Accounting Policies [Line Items]
Number of shares authorized to be repurchased (in shares)			8,234,217
Average cost per share (in USD per share)			$ 10.93			$ 9.41
Authorized amount			$ 90,000,000
Treasury stock, acquired (in shares)		9,527,724	1,294,910
Treasury stock, acquired		$ 104,100,000	$ 14,100,000
Stock repurchased during period (in shares)						3,057
Stock repurchased during period						$ 29,000
Unfulfilled Redemption Request
Summary of Significant Accounting Policies [Line Items]
Other liabilities						800,000	$ 10,000,000		$ 800,000
Share Redemption Program | Common Stock
Summary of Significant Accounting Policies [Line Items]
Redemptions of common stock						$ 10,000,000
Number of shares non-redeemable do to limitation, shares						5,813,699
Number of shares non-redeemable do to limitation, value						$ 58,700,000
After 2019
Summary of Significant Accounting Policies [Line Items]
Share redemption program, termination period						10 days
Maximum number of shares redeemable per year, value						$ 1,000,000
Funds available for redemption of shares						$ 1,000,000
Forecast
Summary of Significant Accounting Policies [Line Items]
Remaining authorized repurchase amount					$ 800,000

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Fees and Segments) (Details)	12 Months Ended
	Dec. 31, 2019segmentmarket
Summary of Significant Accounting Policies [Line Items]
Number of reportable segments	2
KBS Capital Advisors LLC
Summary of Significant Accounting Policies [Line Items]
Acquisition advisory fee, percent	1.00%
Monthly asset management fee, percent of acquisition expense	0.00063%
KBS Capital Advisors LLC or Affiliates
Summary of Significant Accounting Policies [Line Items]
Selling commissions fees paid, percent of sales price	1.00%
Maximum | KBS Capital Advisors LLC, Affiliates or Unaffiliated Third Parties
Summary of Significant Accounting Policies [Line Items]
Selling commissions fees paid, percent of sales price	6.00%
Strategic Opportunistic Properties
Summary of Significant Accounting Policies [Line Items]
Number of reportable segments	1
Single-Family Homes
Summary of Significant Accounting Policies [Line Items]
Number of reportable segments	1
Number of markets in which the Company owns single-family homes | market	6

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (EPS and Accounting Standards) (Details) - $ / shares	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Distributions declared per common share (in dollars per share)	$ 0	$ 0.009	$ 0.009	$ 0.009	$ 2.950	$ 0.016	$ 0.016	$ 0.016	$ 0.03	$ 3	$ 3.89

REAL ESTATE HELD FOR INVESTME_3

REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details) ft² in Millions	Dec. 31, 2019ft²aunitportfoliopropertyinvestment
Real Estate Properties [Line Items]
Percentage of portfolio occupied	79.00%
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property	6
Office Portfolio
Real Estate Properties [Line Items]
Number of real estate properties | portfolio	1
Office Buildings, Portfolio
Real Estate Properties [Line Items]
Number of real estate properties | property	4
Undeveloped Land, Portfolio
Real Estate Properties [Line Items]
Real estate area of undeveloped land | a	14
Rentable square feet | ft²	3
Residential Home Portfolio
Real Estate Properties [Line Items]
Number of real estate properties | portfolio	1
Rentable square feet | ft²	1.4
Percentage of portfolio occupied	89.00%
Number of units in real estate property | unit	993
Apartment Building
Real Estate Properties [Line Items]
Rentable square feet | ft²	0.3
Percentage of portfolio occupied	85.00%
Number of units in real estate property | unit	317
Number of real estate properties consolidated | property	1
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) $ in Thousands	Jan. 08, 2019USD ($)shares	Sep. 07, 2016USD ($)unit	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 824,860	$ 591,026
Accumulated Depreciation and Amortization			(65,381)	(38,052)
Total Real Estate, Net			759,479	552,974
Subsidiary of Common Parent
Real Estate Properties [Line Items]
Interest rate on Class A non-voting preferred membership units		10.00%
Proceeds from sale of units		$ 800
Subsidiary of Common Parent | Preferred Class A-2
Real Estate Properties [Line Items]
Interest rate on Class A non-voting preferred membership units	10.00%
Proceeds from sale of units	$ 1,900
Non-voting preferred membership units sold | shares	1,927
Disposed of by Sale | Subsidiary of Common Parent
Real Estate Properties [Line Items]
Number of real estate units | unit		820
Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			175,317	141,950
Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			618,974	426,604
Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			30,569	$ 22,472
Total Richardson Portfolio
Real Estate Properties [Line Items]
Total Real Estate, at Cost			45,420
Accumulated Depreciation and Amortization			(11,273)
Total Real Estate, Net			34,147
Total Richardson Portfolio | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			6,244
Total Richardson Portfolio | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			39,176
Total Richardson Portfolio | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Palisades Central I
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total Real Estate, at Cost			$ 13,295
Accumulated Depreciation and Amortization			(3,565)
Total Real Estate, Net			$ 9,730
Ownership %			90.00%
Palisades Central I | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 1,037
Palisades Central I | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			12,258
Palisades Central I | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Palisades Central II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total Real Estate, at Cost			$ 21,816
Accumulated Depreciation and Amortization			(5,486)
Total Real Estate, Net			$ 16,330
Ownership %			90.00%
Palisades Central II | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 810
Palisades Central II | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			21,006
Palisades Central II | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Greenway I
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total Real Estate, at Cost			$ 2,708
Accumulated Depreciation and Amortization			(901)
Total Real Estate, Net			$ 1,807
Ownership %			90.00%
Greenway I | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 561
Greenway I | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			2,147
Greenway I | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Greenway III
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total Real Estate, at Cost			$ 4,467
Accumulated Depreciation and Amortization			(1,321)
Total Real Estate, Net			$ 3,146
Ownership %			90.00%
Greenway III | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 702
Greenway III | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			3,765
Greenway III | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Undeveloped Land
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Nov. 23, 2011
Total Real Estate, at Cost			$ 3,134
Accumulated Depreciation and Amortization			0
Total Real Estate, Net			$ 3,134
Ownership %			90.00%
Undeveloped Land | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 3,134
Undeveloped Land | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			0
Undeveloped Land | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Park Highlands
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 30, 2011
Total Real Estate, at Cost			$ 34,167
Accumulated Depreciation and Amortization
Total Real Estate, Net			$ 34,167
Ownership %			100.00%
Park Highlands | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 34,167
Park Highlands | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			0
Park Highlands | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Park Centre
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 28, 2013
Total Real Estate, at Cost			$ 37,703
Accumulated Depreciation and Amortization			(6,334)
Total Real Estate, Net			$ 31,369
Ownership %			100.00%
Park Centre | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 3,251
Park Centre | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			34,452
Park Centre | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
1180 Raymond
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Aug. 20, 2013
Total Real Estate, at Cost			$ 47,420
Accumulated Depreciation and Amortization			(7,897)
Total Real Estate, Net			$ 39,523
Ownership %			100.00%
1180 Raymond | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 8,292
1180 Raymond | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			39,128
1180 Raymond | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Park Highlands II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Dec. 10, 2013
Total Real Estate, at Cost			$ 27,078
Accumulated Depreciation and Amortization			0
Total Real Estate, Net			27,078
Park Highlands II | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			27,078
Park Highlands II | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			0
Park Highlands II | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Richardson Land II
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Sep. 4, 2014
Total Real Estate, at Cost			$ 3,418
Accumulated Depreciation and Amortization			0
Total Real Estate, Net			$ 3,418
Ownership %			90.00%
Richardson Land II | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 3,418
Richardson Land II | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			0
Richardson Land II | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 0
Crown Pointe
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Feb. 14, 2017
Total Real Estate, at Cost			$ 95,526
Accumulated Depreciation and Amortization			(11,753)
Total Real Estate, Net			$ 83,773
Ownership %			100.00%
Crown Pointe | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 22,590
Crown Pointe | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			68,106
Crown Pointe | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 4,830
Marquette Plaza
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 1, 2018
Total Real Estate, at Cost			$ 95,631
Accumulated Depreciation and Amortization			(7,119)
Total Real Estate, Net			$ 88,512
Ownership %			100.00%
Marquette Plaza | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 10,387
Marquette Plaza | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			81,065
Marquette Plaza | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 4,179
City Tower
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Mar. 6, 2018
Total Real Estate, at Cost			$ 157,257
Accumulated Depreciation and Amortization			(12,823)
Total Real Estate, Net			$ 144,434
Ownership %			100.00%
City Tower | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 13,930
City Tower | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			135,390
City Tower | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 7,937
Eight & Nine Corporate Centre
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			Jun. 8, 2018
Total Real Estate, at Cost			$ 79,568
Accumulated Depreciation and Amortization			(4,356)
Total Real Estate, Net			$ 75,212
Ownership %			100.00%
Eight & Nine Corporate Centre | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 17,401
Eight & Nine Corporate Centre | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			57,595
Eight & Nine Corporate Centre | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 4,572
Georgia 400 Center
Real Estate Properties [Line Items]
Date Acquired or Foreclosed on			May 23, 2019
Total Real Estate, at Cost			$ 91,534
Accumulated Depreciation and Amortization			(3,053)
Total Real Estate, Net			$ 88,481
Ownership %			100.00%
Georgia 400 Center | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 11,431
Georgia 400 Center | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			72,529
Georgia 400 Center | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			7,574
Total Single-Family Homes Portfolio
Real Estate Properties [Line Items]
Total Real Estate, at Cost			110,138
Accumulated Depreciation and Amortization			(773)
Total Real Estate, Net			109,365
Total Single-Family Homes Portfolio | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			17,128
Total Single-Family Homes Portfolio | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			91,533
Total Single-Family Homes Portfolio | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			1,477
Birmingham Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			13,650
Accumulated Depreciation and Amortization			(90)
Total Real Estate, Net			$ 13,560
Ownership %			100.00%
Birmingham Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 2,444
Birmingham Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			11,044
Birmingham Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			162
Houston Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			29,195
Accumulated Depreciation and Amortization			(191)
Total Real Estate, Net			$ 29,004
Ownership %			100.00%
Houston Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 6,154
Houston Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			22,609
Houston Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			432
Jacksonville Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			27,397
Accumulated Depreciation and Amortization			(210)
Total Real Estate, Net			$ 27,187
Ownership %			100.00%
Jacksonville Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 2,986
Jacksonville Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			24,058
Jacksonville Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			353
Memphis Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			18,609
Accumulated Depreciation and Amortization			(131)
Total Real Estate, Net			$ 18,478
Ownership %			100.00%
Memphis Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 2,679
Memphis Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			15,664
Memphis Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			266
Atlanta Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			4,687
Accumulated Depreciation and Amortization			(38)
Total Real Estate, Net			$ 4,649
Ownership %			100.00%
Atlanta Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 783
Atlanta Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			3,839
Atlanta Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			65
Oklahoma Homes
Real Estate Properties [Line Items]
Total Real Estate, at Cost			16,600
Accumulated Depreciation and Amortization			(113)
Total Real Estate, Net			$ 16,487
Ownership %			100.00%
Oklahoma Homes | Land
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 2,082
Oklahoma Homes | Buildings and improvements
Real Estate Properties [Line Items]
Total Real Estate, at Cost			14,319
Oklahoma Homes | Tenant origination and absorption costs
Real Estate Properties [Line Items]
Total Real Estate, at Cost			$ 199

REAL ESTATE HELD FOR INVESTME_5

REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Operating Leased Assets [Line Items]
Deferred rent recognized	$ 4.1	$ 4.7	$ 2.4
Deferred rent receivables	13.6	8.4
Incentive to lessee	3.1	1.3
Other liabilities
Operating Leased Assets [Line Items]
Security deposit liability	$ 4.3	$ 3.7
Maximum
Operating Leased Assets [Line Items]
Operating lease, term	12 years 2 months 12 days
Weighted Average
Operating Leased Assets [Line Items]
Operating lease, term	4 years 3 months 18 days

REAL ESTATE HELD FOR INVESTME_6

REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Real Estate [Abstract]
2020	$ 53,396
2021	50,295
2022	44,112
2023	35,871
2024	30,396
Thereafter	67,980
Total	$ 282,050

REAL ESTATE HELD FOR INVESTME_7

REAL ESTATE HELD FOR INVESTMENT (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants | tenant	229
Annualized Base Rent | $	$ 21,690
Percentage of Annualized Base Rent	39.20%
Insurance
Concentration Risk [Line Items]
Number of Tenants | tenant	26
Annualized Base Rent | $	$ 7,817
Percentage of Annualized Base Rent	14.10%
Health Care and Social Services
Concentration Risk [Line Items]
Number of Tenants | tenant	16
Annualized Base Rent | $	$ 7,021
Percentage of Annualized Base Rent	12.70%
Computer Systems
Concentration Risk [Line Items]
Number of Tenants | tenant	24
Annualized Base Rent | $	$ 6,852
Percentage of Annualized Base Rent	12.40%

REAL ESTATE HELD FOR INVESTME_8

REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details)	12 Months Ended
	Dec. 31, 2019
Concentration Risk [Line Items]
Concentration risk, percentage	39.20%
Georgia | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	17.00%
California | Assets, Total
Concentration Risk [Line Items]
Concentration risk, percentage	13.90%

REAL ESTATE HELD FOR INVESTME_9

REAL ESTATE HELD FOR INVESTMENT (Georgia 400 Center Acquisitions) (Details) $ in Thousands	May 23, 2019USD ($)ft²aproperty	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Mar. 06, 2018property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost		$ 824,860	$ 591,026
Below-market leases, net		3,180	3,528
Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost		175,317	141,950
Buildings and improvements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost		618,974	426,604
Tenant origination and absorption costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost		$ 30,569	$ 22,472
Georgia 400 Center | Office Properties
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties acquired | property	3			1,000
Rentable square feet | ft²	416,463
Area of land | a	24.4
Purchase price	$ 90,300
Amortization of acquisition costs	$ 1,200
Georgia 400 Center | Office Properties | Tenant origination and absorption costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Remaining amortization period	5 years 9 months 18 days
Georgia 400 Center | Office Properties | Below-Market Lease Liabilities
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Below-market leases, net	$ 700
Remaining amortization period	2 years 4 months 24 days
Georgia 400 Center | Office Properties | Land
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost	$ 11,400
Georgia 400 Center | Office Properties | Buildings and improvements
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost	72,000
Georgia 400 Center | Office Properties | Tenant origination and absorption costs
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total real estate, cost	$ 7,600

REAL ESTATE HELD FOR INVESTM_10

REAL ESTATE HELD FOR INVESTMENT (Reven Portfolio - Narrative) (Details) - Reven Portfolio - Single Family Homes $ in Millions	Nov. 04, 2019USD ($)property
Business Acquisition [Line Items]
Number of real estate properties acquired | property	993
Payments of cash to acquire single-famil home portfolio	$ 56.6
Acquisition related costs	4.5
Severance costs	2.4
Acquisition fee to affiliate	$ 1.2
Tenant origination and absorption costs
Business Acquisition [Line Items]
Remaining amortization period	6 months

REAL ESTATE HELD FOR INVESTM_11

REAL ESTATE HELD FOR INVESTMENT (Reven Portfolio) (Details) - Reven Portfolio $ in Thousands	Nov. 04, 2019USD ($)
Assets:
Land	$ 17,126
Building and improvements	91,320
Tenant origination and absorption costs	1,477
Cash and cash equivalents	8,104
Restricted cash	1,667
Rents and other receivables	989
Prepaid expenses and other assets	634
Liabilities:
Notes payable	(61,885)
Accounts payable and accrued liabilities	(1,893)
Other liabilities	(904)
Total cash paid for acquisition	$ 56,635

REAL ESTATE HELD FOR INVESTM_12

REAL ESTATE HELD FOR INVESTMENT (Pro Forma) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Real Estate [Abstract]
Revenues	$ 102,540
Expenses	(116,370)
Net loss	$ (13,830)

REAL ESTATE HELD FOR INVESTM_13

REAL ESTATE HELD FOR INVESTMENT (Dispositions) (Details) - USD ($) $ in Thousands	Nov. 01, 2019	Jul. 19, 2019	Jan. 11, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate held for sale, net				$ 0	$ 128,146
Accumulated depreciation and amortization				65,381	38,052
Gain on sale of real estate				$ 34,077	$ 80,594	$ 255,935
125 John Carpenter Mortgage Loan
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Extinguishment of debt	$ 53,200
424 Bedford | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration			$ 43,800
Real estate held for sale, net			34,000
Accumulated depreciation and amortization			5,300
Gain on sale of real estate			$ 7,600
Burbank Collection | Disposed of by Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Consideration		$ 25,900
Real estate held for sale, net		14,700
Accumulated depreciation and amortization		2,600
Gain on sale of real estate		$ 10,500

TENANT ORIGINATION AND ABSORP_3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination And Absorption Costs, Cost	$ 30,569	$ 22,472
Tenant Origination and Absorption Costs, Accumulated Amortization	(10,223)	(5,255)
Tenant Origination and Absorption Costs, Net Amount	20,346	17,217
Above-Market Lease Assets, Cost	3,714	3,714
Above-Market Lease Assets, Accumulated Amortization	(741)	(337)
Above-Market Lease Assets, Net Amount	2,973	3,377
Below-Market Lease Liabilities, Cost	(4,958)	(4,406)
Below-Market Lease Liabilities, Accumulated Amortization	1,778	878
Below-Market Lease Liabilities, Net Amount	(3,180)	(3,528)
Tenant Origination And Absorption Costs, Amortization	(7,036)	(7,895)	$ (10,265)
Above-Market Lease Assets, Amortization	(404)	(361)	(283)
Below-Market Lease Liabilities, Amortization	$ 1,495	$ 1,513	$ 2,858

TENANT ORIGINATION AND ABSORP_4

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Remaining Unamortized Balance) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2019USD ($)
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
2020	$ 866
2021	560
2022	507
2023	416
2024	407
Thereafter	424
Net Amount	3,180
Tenant origination and absorption costs
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	(6,470)
2021	(4,226)
2022	(3,104)
2023	(2,106)
2024	(1,745)
Thereafter	(2,695)
Net Amount	$ (20,346)
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Weighted-Average Remaining Amortization Period	4 years 9 months 18 days
Above-Market Lease Assets
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
2020	$ (315)
2021	(297)
2022	(297)
2023	(297)
2024	(297)
Thereafter	(1,470)
Net Amount	$ (2,973)
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Weighted-Average Remaining Amortization Period	10 years 6 months
Below-Market Lease Liabilities
Below Market Lease, Net, Amortization Income, Fiscal Year Maturity [Abstract]
Weighted-Average Remaining Amortization Period	5 years 1 month 6 days

TENANT ORIGINATION AND ABSORP_5

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Amortization expense	$ 34,004	$ 35,006	$ 53,446
Depreciation and amortization	34,004	35,006	53,446
Prepaid expenses and other assets
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Tax abatement intangible assets	1,000	1,600
Property tax abatement intangible assets
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Line Items]
Amortization expense	600	1,000	1,000
Depreciation and amortization	$ 600	$ 1,000	$ 1,000
Remaining amortization period	1 year 8 months 12 days

REAL ESTATE EQUITY SECURITIES_2

REAL ESTATE EQUITY SECURITIES (Narrative) (Details) $ in Thousands	Oct. 29, 2019USD ($)shares	Dec. 31, 2019USD ($)investmentshares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Schedule of Available-for-sale Securities [Line Items]
Number of investments in equity securities | investment		3
Payments to acquire investments		$ 0	$ 0	$ 12,514
Interest and Dividend Income, Securities, Operating, Available-for-sale		$ 5,800	$ 6,000	$ 2,500
Plymouth Industrial REIT, Inc.
Schedule of Available-for-sale Securities [Line Items]
Stock repurchased during period (in shares) | shares		555,555
Payments to acquire investments		$ 10,000
Plymouth Industrial REIT, Inc. | Common Stock
Schedule of Available-for-sale Securities [Line Items]
Number of securities sold (in shares) | shares		139,714
Proceeds from sale of equity securities		$ 2,700
Whitestone REIT | Common Stock
Schedule of Available-for-sale Securities [Line Items]
Number of securities sold (in shares) | shares		1,781,894
Proceeds from sale of equity securities		$ 25,400
SREIT
Schedule of Available-for-sale Securities [Line Items]
Payments to acquire investments	$ 5,200
Number of shares owned (in shares) | shares	7,186,000

REAL ESTATE EQUITY SECURITIES_3

REAL ESTATE EQUITY SECURITIES (Shares Owned) (Details) - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 81,439	$ 73,876
Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	67,354,922	61,533,775
Whitestone REIT
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 0	$ 21,846
Whitestone REIT | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	0	1,781,894
Keppel Pacific Oak US REIT
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 50,049	$ 34,757
Keppel Pacific Oak US REIT | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	64,165,352	56,979,352
Franklin Street Properties Corp.
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 23,743	$ 17,273
Franklin Street Properties Corp. | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	2,773,729	2,772,529
Plymouth Industrial REIT, Inc.
Schedule of Available-for-sale Securities [Line Items]
Total Carrying Value	$ 7,647	$ 0
Plymouth Industrial REIT, Inc. | Available-for-sale Securities
Schedule of Available-for-sale Securities [Line Items]
Number of Shares Owned (in shares)	415,841	0

REAL ESTATE EQUITY SECURITIES_4

REAL ESTATE EQUITY SECURITIES (Portion of Gain and Loss) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Net gain (loss) recognized during the period on real estate equity securities	$ 20,379	$ (19,010)
Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period	4,158	(837)
Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at period end	$ 16,221	$ (18,173)

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	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2019
Schedule of Available-for-sale Securities [Line Items]
Outstanding Principal Balance		$ 0	$ 13,000		$ 0
Redemptions of common stock	$ 8,600	10,028	123,613	$ 74,780	285,400
Battery Point
Schedule of Available-for-sale Securities [Line Items]
Redemptions of common stock (in shares)	13,000
Stock redeemed (in dollars per share)	$ 1,000
Redemptions of common stock	$ 8,600
Stock redeemed, accrued interest and exit fees	$ 900
Number of securities received (in shares)	210,000
Price per share (in dollars per share)	$ 25
Battery Point | Series B Preferred Units
Schedule of Available-for-sale Securities [Line Items]
Outstanding Principal Balance		0			0
Book Value		$ 0	$ 10,859		$ 0

REAL ESTATE DEBT SECURITIES (_2

REAL ESTATE DEBT SECURITIES (Schedule of Activity of Real Estate Securities) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Held-to-maturity Securities [Roll Forward]
Real estate debt securities - December 31, 2018	$ 13,000,000
Other-than-temporary impairment	0	$ 2,500,000	$ 0
Real estate debt securities - December 31, 2019	0	13,000,000
Debt Securities
Held-to-maturity Securities [Roll Forward]
Real estate debt securities - December 31, 2018	10,859,000
Principal repayment	(7,750,000)
Deferred interest receivable and interest accretion	(2,992,000)
Accretion of commitment fee, net of closing costs	4,000
Held-to-Maturity Securities, Receipt of Deferred Interest Receivable	130,000
Other-than-temporary impairment	9,000
Real estate debt securities - December 31, 2019	$ 0	$ 10,859,000

REAL ESTATE DEBT SECURITIES (In

REAL ESTATE DEBT SECURITIES (Interest Income) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Available-for-sale Securities [Line Items]
Contractual interest income	$ 2,120,000	$ 1,884,000	$ 1,105,000
Other-than-temporary impairment of debt securities	0	$ 2,500,000	0
Probable percent of contractual cash flows to be collected		100.00%
Discount rate		12.00%
Debt Securities
Schedule of Available-for-sale Securities [Line Items]
Contractual interest income	356,000	$ 1,910,000	1,217,000
Interest accretion	4,000	59,000	315,000
Accretion of commitment fee, net of closing costs and acquisition fee	9,000	49,000	250,000
Interest income from real estate debt securities	369,000	$ 2,018,000	$ 1,782,000
Other-than-temporary impairment of debt securities	$ 9,000

REAL ESTATE DISPOSITIONS (Narra

REAL ESTATE DISPOSITIONS (Narrative) (Details) $ in Thousands

Nov. 01, 2019USD ($)propertyshares

Oct. 29, 2019USD ($)shares

Jul. 19, 2019USD ($)

Jan. 11, 2019USD ($)

Nov. 30, 2018USD ($)property

Nov. 26, 2018USD ($)shares

Jul. 17, 2018USD ($)

Nov. 08, 2017USD ($)propertyshares

May 15, 2017USD ($)

Dec. 31, 2019USD ($)property

Dec. 31, 2018USD ($)property

Dec. 31, 2017USD ($)property

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain on sale of real estate, net

$ 34,077

$ 80,594

$ 255,935

Real estate held for sale

0

128,146

Accumulated depreciation and amortization

65,381

38,052

Loss on extinguishment of debt

1,106

493

478

Real estate held for investment, net

759,479

552,974

Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Closing costs

$ 12,667

$ 36,736

$ 104,589

Disposed of by Sale | SREIT

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Issuance of common stock (in shares) | shares

56,979,352

186,236,224

Common stock, shares acquired (in shares) | shares

7,186,000

Common stock, shares acquired

$ 5,200

Disposed of by Sale | SREIT

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Ownership interest

6.89%

6.89%

7.00%

Common stock, shares acquired (in shares) | shares

12,979,852

Common stock, shares acquired

$ 6,500

Disposed of by Sale | 125 John Carpenter

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

$ 99,800

Closing costs

200

Gain on sale of real estate, net

$ 16,000

Real estate held for sale

82,400

Accumulated depreciation and amortization

$ 9,100

Disposed of by Sale | Burbank Collection

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

$ 25,900

Gain on sale of real estate, net

10,500

Real estate held for sale

14,700

Accumulated depreciation and amortization

$ 2,600

Disposed of by Sale | 424 Bedford

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

$ 43,800

Gain on sale of real estate, net

7,600

Real estate held for sale

34,000

Accumulated depreciation and amortization

$ 5,300

Disposed of by Sale | Westpark Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

$ 166,400

Closing costs

3,200

Gain on sale of real estate, net

$ 32,500

Disposed of by Sale | Central Building

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Consideration

$ 67,500

Gain on sale of real estate, net

32,100

Real estate held for sale

32,600

Accumulated depreciation and amortization

$ 5,600

Disposed of by Sale | Singapore Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

11

Consideration

$ 804,000

Closing costs

7,700

Gain on sale of real estate, net

236,900

Real estate held for sale

543,200

Accumulated depreciation and amortization

$ 103,000

Number of wholly owned subsidiaries | property

11

Deferred gains on sale

$ 17,100

Loss on extinguishment of debt

$ 500

Disposed of by Sale | Singapore Portfolio | SREIT

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Shares received as part of consideration | shares

44,000,000

Shares outstanding, percent

7.00%

Disposed of by Sale | 50 Congress Street

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Gain on sale of real estate, net

$ 29,400

Accumulated depreciation and amortization

5,900

Proceeds from Sale of Real Estate

79,000

Proceeds from sales of real estate, net of concessions and credits

78,800

Real estate held for investment, net

$ 47,700

Office Properties

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties | property

6

Office Properties | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

1

1

12

Office Properties | Disposed of by Sale | 125 John Carpenter

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

2

Retail Property | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

1

Apartment Building | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

1

Office/Flex/Industrial Portfolio | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

1

Office/Flex/Industrial Buildings | Disposed of by Sale

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

21

Office/Flex/Industrial Buildings | Disposed of by Sale | Westpark Portfolio

Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]

Number of real estate properties disposed | property

21

REAL ESTATE DISPOSITIONS (Sched

REAL ESTATE DISPOSITIONS (Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale) (Details) - Held-for-sale - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate, cost	$ 0	$ 139,936
Accumulated depreciation and amortization	0	(11,790)
Real estate, net	0	128,146
Other assets	0	5,503
Total assets related to real estate held for sale	0	133,649
Notes payable, net	0	86,424
Other liabilities	0	1,477
Total liabilities related to real estate held for sale	$ 0	$ 87,901

REAL ESTATE DISPOSITIONS (Reven

REAL ESTATE DISPOSITIONS (Revenue and Expenses for Real Estate Held-for-Sale) (Details) - Disposed of by Sale - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Revenues
Rental income	$ 11,458	$ 30,744	$ 94,073
Other operating income	911	1,171	5,668
Total revenues	12,369	31,915	99,741
Expenses
Operating, maintenance, and management	3,423	9,117	28,931
Real estate taxes and insurance	2,217	4,035	12,188
Asset management fees to affiliate	784	2,435	6,458
Depreciation and amortization	3,784	13,066	39,038
Interest expense	2,459	8,083	17,974
Total expenses	$ 12,667	$ 36,736	$ 104,589

NOTES AND BONDS PAYABLE (Schedu

NOTES AND BONDS PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($) $ in Thousands	Nov. 01, 2019	Jul. 19, 2019	Dec. 31, 2019	Jan. 11, 2019	Dec. 31, 2018
Debt Instrument [Line Items]
Total Notes and Bond Payable principal outstanding			$ 678,080		$ 663,318
Net Premium/Discount on Notes and Bond Payable			783		198
Deferred financing costs, net			(5,200)		(8,044)
Total notes and bonds payable, net			673,663		655,472
Debt, outstanding amount			678,080
424 Bedford
Debt Instrument [Line Items]
Debt, outstanding amount				$ 23,700
125 John Carpenter Mortgage Loan
Debt Instrument [Line Items]
Extinguishment of debt	$ 53,200
Mortgages | Richardson Portfolio Mortgage Loan
Debt Instrument [Line Items]
Notes payable			$ 36,000		36,000
Interest rate, effective percentage			4.19%
Debt, outstanding amount			$ 36,000
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			$ 21,970		8,404
Interest rate, effective percentage			3.44%
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			$ 0		10,716
Extinguishment of debt		$ 10,600
Mortgages | 1180 Raymond Mortgage Loan
Debt Instrument [Line Items]
Notes payable			$ 30,250		30,637
Interest rate, effective percentage			3.96%
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			$ 6,080		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			$ 0		23,710
Mortgages | KBS SOR (BVI) Holdings, Ltd. Series A Debentures
Debt Instrument [Line Items]
Notes payable			$ 224,746		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			$ 51,171		51,171
Interest rate, effective percentage			4.29%
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			$ 0		53,204
Extinguishment of debt	$ 53,200
Mortgages | City Tower Mortgage Loan
Debt Instrument [Line Items]
Notes payable			$ 89,000		89,000
Interest rate, effective percentage			3.24%
Mortgages | City Tower Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.55%
Mortgages | Marquette Plaza Mortgage Loan
Debt Instrument [Line Items]
Notes payable			$ 53,408		50,800
Interest rate, effective percentage			3.24%
Mortgages | Marquette Plaza 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			$ 43,880		43,880
Interest rate, effective percentage			3.29%
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			$ 59,690		0
Interest rate, effective percentage			3.24%
Mortgages | Georgia 400 Center Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate			1.55%
Mortgages | PORT Mortgage Loan 1
Debt Instrument [Line Items]
Notes payable			$ 51,362		0
Contractual interest rate, percentage			4.74%
Interest rate, effective percentage			4.74%
Mortgages | PORT Mortgage Loan 2
Debt Instrument [Line Items]
Notes payable			$ 10,523		$ 0
Contractual interest rate, percentage			4.72%
Interest rate, effective percentage			4.72%

NOTES AND BONDS PAYABLE (Narrat

NOTES AND BONDS PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Notes and Bonds Payable [Abstract]
Interest expense	$ 28,849	$ 31,054	$ 37,149
Amortization of deferred financing costs	3,606	3,640	4,363
Interest payable	4,800	5,200
Real Estate [Line Items]
Interest costs capitalized	2,739	2,565	2,339
Undeveloped Land
Real Estate [Line Items]
Interest costs capitalized	$ 2,700	$ 2,600	$ 2,300

NOTES AND BONDS PAYABLE (Sche_2

NOTES AND BONDS PAYABLE (Schedule of Maturities of Long-term Debt) (Details) $ in Thousands	Dec. 31, 2019USD ($)
Notes and Bonds Payable [Abstract]
2020	$ 137,958
2021	278,554
2022	78,396
2023	116,132
2024	270
Thereafter	66,770
Notes and bond payable outstanding	$ 678,080

NOTES AND BONDS PAYABLE (Israel

NOTES AND BONDS PAYABLE (Israeli Bond Financing) (Details)

Feb. 16, 2020USD ($)

Mar. 01, 2019USD ($)

Mar. 01, 2019ILS (₪)

Mar. 08, 2016ILS (₪)

Mar. 08, 2016USD ($)

Mar. 08, 2016ILS (₪)

Mar. 07, 2016ILS (₪)

Mar. 02, 2016ILS (₪)

Mar. 01, 2016ILS (₪)

Mar. 31, 2016

Mar. 17, 2020ILS (₪)

Mar. 16, 2020ILS (₪)

Feb. 16, 2020ILS (₪)

Dec. 31, 2019ILS (₪)instrument

Dec. 31, 2018USD ($)instrument

Foreign currency collar | Not Designated as Hedging Instrument

Debt Instrument [Line Items]

Number of instruments | instrument

1

0

Notional amount

₪ 776,182,000

$ 0

Subsequent Event | Foreign currency collar | Not Designated as Hedging Instrument

Debt Instrument [Line Items]

Notional amount

₪ 380,000,000

₪ 418,000,000

Bonds Payable | Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures

Debt Instrument [Line Items]

Maximum borrowing capacity

₪ 1,000,000,000

Interest rate during period

4.25%

Proceeds from issuance of debt

₪ 970,200,000

$ 249,200,000

₪ 970,200,000

₪ 127,700,000

₪ 842,500,000

Periodic payment

$ 53,600,000

₪ 194,000,000

Contractual interest rate, percentage

4.25%

Bonds Payable | Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures | Maximum

Debt Instrument [Line Items]

Interest rate during period

4.25%

Contractual interest rate, percentage

4.25%

Bonds Payable | Pacific Oak SOR (BVI) Holdings, Ltd. Series B Debentures | Subsequent Event

Debt Instrument [Line Items]

Maximum borrowing capacity

$ 74,100,000

₪ 254,100,000

Contractual interest rate, percentage

3.93%

3.93%

Principal of installment payments as percent of face amount

33.33%

DERIVATIVE INSTRUMENTS (Notiona

DERIVATIVE INSTRUMENTS (Notional Amount) (Details)	Mar. 17, 2020ILS (₪)	Mar. 16, 2020ILS (₪)	Dec. 31, 2019USD ($)instrument	Dec. 31, 2019ILS (₪)instrument	Nov. 25, 2019	Mar. 07, 2019USD ($)	Dec. 31, 2018USD ($)instrument	Aug. 20, 2018
Interest rate cap
Derivative [Line Items]
Notional Amount						$ 348,500,000
Interest rate cap | One-month LIBOR
Derivative [Line Items]
Variable interest rate						3.75%
Not Designated as Hedging Instrument | Foreign currency collar
Derivative [Line Items]
Number of Instruments | instrument			1	1			0
Notional Amount				₪ 776,182,000			$ 0
Not Designated as Hedging Instrument | Foreign currency collar | Subsequent Event
Derivative [Line Items]
Notional Amount | ₪	₪ 380,000,000	₪ 418,000,000
Not Designated as Hedging Instrument | Foreign currency collar | Subsequent Event | Purchase
Derivative [Line Items]
Exchange rate cap	3.700	3.5875
Not Designated as Hedging Instrument | Foreign currency collar | Subsequent Event | Sell
Derivative [Line Items]
Exchange rate cap	3.820	3.725
Not Designated as Hedging Instrument | Foreign currency collar | Minimum
Derivative [Line Items]
Exchange rate cap					3.38
Not Designated as Hedging Instrument | Foreign currency collar | Minimum | Subsequent Event
Derivative [Line Items]
Amount to exchange on settlement date | ₪	₪ 99,500,000	₪ 112,200,000
Not Designated as Hedging Instrument | Foreign currency collar | Maximum
Derivative [Line Items]
Exchange rate cap					3.4991
Not Designated as Hedging Instrument | Foreign currency collar | Maximum | Subsequent Event
Derivative [Line Items]
Amount to exchange on settlement date | ₪	₪ 102,700,000	₪ 116,500,000
Not Designated as Hedging Instrument | Foreign currency collar 1
Derivative [Line Items]
Number of Instruments | instrument			0	0			1
Notional Amount			$ 0				$ 776,182,000
Not Designated as Hedging Instrument | Foreign currency collar 1 | Minimum
Derivative [Line Items]
Exchange rate cap								3.54
Not Designated as Hedging Instrument | Foreign currency collar 1 | Maximum
Derivative [Line Items]
Exchange rate cap								3.66
Not Designated as Hedging Instrument | Interest rate cap
Derivative [Line Items]
Number of Instruments | instrument			3	3
Notional Amount			$ 46,875,000
Not Designated as Hedging Instrument | Interest rate cap | One-month LIBOR
Derivative [Line Items]
Variable interest rate			3.00%	3.00%
Not Designated as Hedging Instrument | Interest rate cap 1
Derivative [Line Items]
Notional Amount			$ 77,513,000
Not Designated as Hedging Instrument | Interest rate cap 1 | One-month LIBOR
Derivative [Line Items]
Variable interest rate			3.50%	3.50%
Not Designated as Hedging Instrument | Interest rate cap 2
Derivative [Line Items]
Notional Amount			$ 51,252,000
Not Designated as Hedging Instrument | Interest rate cap 2 | One-month LIBOR
Derivative [Line Items]
Variable interest rate			4.00%	4.00%

DERIVATIVE INSTRUMENTS (Balance

DERIVATIVE INSTRUMENTS (Balance Sheets) (Details)	12 Months Ended
	Dec. 31, 2019USD ($)instrument	Dec. 31, 2018USD ($)instrument	Dec. 31, 2017USD ($)	Dec. 31, 2019ILS (₪)instrument	Mar. 07, 2019USD ($)
Interest rate cap
Derivative [Line Items]
Notional Amount					$ 348,500,000
Unrealized loss on derivatives	$ 100,000	$ 100,000	$ 100,000
Foreign currency collar
Derivative [Line Items]
Gain (loss) recognized on derivatives	4,200,000	(18,800,000)	(11,300,000)
Foreign currency transaction gain (loss), net	$ (16,700,000)	$ 8,700,000	$ 26,600,000
Not Designated as Hedging Instrument | Interest rate cap
Derivative [Line Items]
Number of Instruments | instrument	3			3
Notional Amount	$ 46,875,000
Not Designated as Hedging Instrument | Interest rate cap | Prepaid expenses and other assets
Derivative [Line Items]
Number of Instruments | instrument	3	2		3
Derivative Asset	$ 12,000	$ 34,000
Not Designated as Hedging Instrument | Interest rate cap 1
Derivative [Line Items]
Notional Amount	77,513,000
Not Designated as Hedging Instrument | Interest rate cap 2
Derivative [Line Items]
Notional Amount	$ 51,252,000
Not Designated as Hedging Instrument | Foreign currency collar
Derivative [Line Items]
Number of Instruments | instrument	1	0		1
Notional Amount		$ 0		₪ 776,182,000
Not Designated as Hedging Instrument | Foreign currency collar | Other liabilities
Derivative [Line Items]
Number of Instruments | instrument	1	1		1
Derivative Liability	$ (179,000)	$ (4,393,000)

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Face Value	$ 0	$ 13,000,000
Face amount	453,334,000	403,802,000
Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Face amount	224,746,000	259,516,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Value	0	10,859,000
Financial liabilities, Value	451,743,000	400,470,000
Carrying Amount | Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities, Value	221,920,000	255,002,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate debt securities, Value	0	10,859,000
Financial liabilities, Value	455,849,000	407,449,000
Fair Value | Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Financial liabilities, Value	$ 229,877,000	$ 255,814,000

FAIR VALUE DISCLOSURES (Sched_2

FAIR VALUE DISCLOSURES (Schedule of Assets at Fair Value) (Details) - Recurring Basis - USD ($) $ in Thousands	Dec. 31, 2019	Dec. 31, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	$ 81,439	$ 73,876
Asset derivative - interest rate caps	12	34
Liability derivative - foreign currency collar	(179)	(4,393)
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	81,439	73,876
Asset derivative - interest rate caps	0	0
Liability derivative - foreign currency collar	0	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	0
Asset derivative - interest rate caps	12	34
Liability derivative - foreign currency collar	(179)	(4,393)
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Real estate equity securities	0	0
Asset derivative - interest rate caps	0	0
Liability derivative - foreign currency collar	$ 0	$ 0

RELATED PARTY TRANSACTIONS (Cos

RELATED PARTY TRANSACTIONS (Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Related Party Transaction [Line Items]
Payable as of	$ 1,635	$ 36
Payment for administrative fees	220	305	$ 225
KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred	44,893	14,762	20,615
Payable as of	1,635	36
KBS Capital Advisors LLC | Asset management fees
Related Party Transaction [Line Items]
Expensed	8,158	8,525	10,686
Payable as of	1,498	0
KBS Capital Advisors LLC | Acquisition fees on real estate
Related Party Transaction [Line Items]
Expensed	1,185	0	0
Incurred	897	3,094	907
Payable as of	0	0
KBS Capital Advisors LLC | Reimbursable operating expenses
Related Party Transaction [Line Items]
Expensed	236	410	241
Payable as of	0	29
KBS Capital Advisors LLC | Disposition fees
Related Party Transaction [Line Items]
Expensed	1,570	2,494	8,352
Payable as of	0	0
KBS Capital Advisors LLC | Termination Fee
Related Party Transaction [Line Items]
Expensed	32,640	0	0
Payable as of		0
KBS Capital Advisors LLC | Acquisition fees on real estate equity securities
Related Party Transaction [Line Items]
Incurred	0	239	429
Payable as of	0	7
KBS Capital Advisors LLC | Acquisition fee on investment in unconsolidated entities
Related Party Transaction [Line Items]
Incurred	207	0	$ 0
Payable as of	$ 137	$ 0

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details)	Jul. 06, 2017USD ($)ft²aproperty	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Related Party Transaction [Line Items]
Payment for administrative fees		$ 220,000	$ 305,000	$ 225,000
Joint Venture
Related Party Transaction [Line Items]
Ownership %	55.00%
KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred		44,893,000	14,762,000	20,615,000
KBS Capital Advisors LLC | 353 Sacramento
Related Party Transaction [Line Items]
Acquisition fees waved as percent of acquisition fees paid	45.00%
KBS Capital Advisors LLC | 125 John Carpenter
Related Party Transaction [Line Items]
Acquisition fees waved	$ 800,000
Monarch Global Partners, LLC | Immediate Family Member of Management or Principal Owner
Related Party Transaction [Line Items]
Payment for administrative fees	$ 100,000
Office Properties | KBS Capital Advisors LLC | 125 John Carpenter
Related Party Transaction [Line Items]
Net rentable area | ft²	442,039
Number of real estate properties | property	2
353 Sacramento | Disposed of by Sale | Office Properties
Related Party Transaction [Line Items]
Ownership %	45.00%
Net rentable area | ft²	284,751
Area of land | a	0.35
Consideration	$ 39,100,000
KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred		$ 0
Migdal Members
Related Party Transaction [Line Items]
Ownership %	45.00%
Migdal Members | 353 Sacramento | Parent Company
Related Party Transaction [Line Items]
Acquisition related costs	$ 200,000
Migdal Members | WBAM | 353 Sacramento
Related Party Transaction [Line Items]
Acquisition related costs	$ 200,000
Evaluate certain strategic transactions | KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred			$ 100,000	400,000
Property insurance rebate | KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred				$ 100,000

RELATED PARTY TRANSACTIONS (Sub

RELATED PARTY TRANSACTIONS (Subordinated Performance Fee Due Upon Termination) (Details) - KBS Capital Advisors LLC - Subordinated Performance Fee Due Upon Termination	12 Months Ended
	Dec. 31, 2019shares
Related Party Transaction [Line Items]
Shares to be awarded (in shares)	3,411,737
Period of redemption after vesting	60 days
Termination fee as percent of liquidation proceeds	50.00%
Percent of total operating expenses in four consecutive quarters	2.00%
Percent of total operating expenses, benchmark	25.00%
Maximum ratio for number of remaining shares to be redeemed	0.006667
After November 1, 2024
Related Party Transaction [Line Items]
Period of redemption of remaining shares	60 days

RELATED PARTY TRANSACTIONS (N_2

RELATED PARTY TRANSACTIONS (Narrative1) (Details)	Oct. 29, 2019	Mar. 20, 2019USD ($)$ / sharesshares	Dec. 31, 2019USD ($)unitshares	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2019USD ($)unitshares	May 12, 2017USD ($)	Oct. 28, 2016USD ($)
Related Party Transaction [Line Items]
Redemptions of common stock		$ 8,600,000	$ 10,028,000	$ 123,613,000	$ 74,780,000	$ 285,400,000
Battery Point
Related Party Transaction [Line Items]
Number of securities received (in shares) | shares		210,000
Price per share (in dollars per share) | $ / shares		$ 25
Stock repurchased during period (in shares) | shares			430,000
Stock repurchased during period			$ 10,800,000
Series B Preferred Units | Battery Point
Related Party Transaction [Line Items]
Redemptions of common stock (in shares) | shares		13,000
Stock redeemed (in dollars per share) | $ / shares		$ 1,000
Principal paydow		$ 900,000
Series A-3 Preferred Units | Battery Point
Related Party Transaction [Line Items]
Investments		$ 5,300,000
Redemptions of common stock (in shares) | shares		13,000
Stock redeemed (in dollars per share) | $ / shares		$ 1,000
Principal paydow		$ 7,700,000
Number of securities received (in shares) | shares		210,000
Price per share (in dollars per share) | $ / shares		$ 25
Battery Point
Related Party Transaction [Line Items]
Redemptions of common stock (in shares) | shares		13,000
Stock redeemed (in dollars per share) | $ / shares		$ 1,000
Redemptions of common stock		$ 8,600,000
Number of securities received (in shares) | shares		210,000
Price per share (in dollars per share) | $ / shares		$ 25
Battery Point | Series B Preferred Units
Related Party Transaction [Line Items]
Investments to be made							$ 17,500,000
Investments				4,500,000
Dividend rate, percentage	12.00%
Battery Point | Series B Preferred Units | Maximum
Related Party Transaction [Line Items]
Investments to be made								$ 25,000,000
Battery Point | Series A-3 Preferred Units
Related Party Transaction [Line Items]
Number of securities received (in shares) | shares			640,000			640,000
Stock repurchased during period (in shares) | shares			430,000
Stock repurchased during period			$ 10,800,000
Pacific Oak Opportunity Zone Fund I
Related Party Transaction [Line Items]
Investments			$ 20,600,000			$ 20,600,000
Acquisition fee, percent of purchase price fee			1.50%
Number of units in real estate property | unit			91			91
Investment, purchase price, benchmark			$ 25,000,000
Acquisition fee of purchase price fee in excess of benchmark purchase price			1.00%
Asset management fee, percent			0.25%			0.25%
Financing fee as percent of original principal amount of any indebtedness			0.50%			0.50%
KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred			$ 44,893,000	$ 14,762,000	$ 20,615,000
KBS Capital Advisors LLC | Subordinated Participation in Net Cash Flows
Related Party Transaction [Line Items]
Noncompounded return on invested capital as percent per year, percent			7.00%			7.00%
Percent of net cash flows to be received by related party, percent			15.00%			15.00%
Distributions paid from operating cash flows, annual return, percent			7.00%			7.00%
KBS Capital Advisors LLC | Subordinated Incentive Listing Fee
Related Party Transaction [Line Items]
Noncompounded return on invested capital as percent per year, percent			7.00%			7.00%
Percent of net cash flows to be received by related party, percent			15.00%			15.00%
Distributions paid from operating cash flows, annual return, percent			7.00%			7.00%
KBS Capital Advisors LLC | Subordinated Performance Fee Due Upon Termination
Related Party Transaction [Line Items]
Noncompounded return on invested capital as percent per year, percent			7.00%			7.00%
Percent of net cash flows to be received by related party, percent			15.00%			15.00%
Distributions paid from operating cash flows, annual return, percent			7.00%			7.00%
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%

RELATED PARTY TRANSACTIONS (Sin

RELATED PARTY TRANSACTIONS (Singapore Transaction) (Details) $ / shares in Units, $ in Thousands

Nov. 01, 2019USD ($)ft²propertyshares

Oct. 29, 2019USD ($)shares

Nov. 30, 2018USD ($)aft²property

Nov. 26, 2018USD ($)shares

Nov. 08, 2017USD ($)property

Nov. 02, 2017$ / sharesshares

Oct. 25, 2017shares

Oct. 24, 2017USD ($)property

Dec. 31, 2019USD ($)property

Dec. 31, 2018USD ($)property

Dec. 31, 2017USD ($)property

Dec. 15, 2017shares

Sep. 30, 2017USD ($)

Related Party Transaction [Line Items]

Real estate held for sale, net

$ 0

$ 128,146

Payments to acquire investments

0

0

$ 12,514

KBS Pacific Advisors, LLC

Related Party Transaction [Line Items]

Ownership %

50.00%

Keppel Capital Holding Pte. Ltd.

Related Party Transaction [Line Items]

Ownership %

50.00%

Investments in unconsolidated entities

$ 27,500

SREIT

Related Party Transaction [Line Items]

Payments to acquire investments

$ 52,500

Ownership %

6.89%

6.89%

9.50%

7.00%

Number of shares owned (in shares) | shares

43,999,500

Common units owned (in shares) | shares

56,979,352

Common units acquired (in shares) | shares

7,186,000

Investments in unconsolidated entities

$ 5,200

Management fee

10.00%

Performance fee

25.00%

Acquisition fee as percent of purchase price of assets acquired

1.00%

Divestment fee as percent of sale price of assets disposed

0.50%

Singapore Portfolio

Related Party Transaction [Line Items]

Extinguishment of debt

$ 401,700

Singapore Portfolio

Related Party Transaction [Line Items]

Real estate held for sale, net

$ 546,500

Disposed of by Sale

Related Party Transaction [Line Items]

Closing costs

$ 12,667

$ 36,736

$ 104,589

Disposed of by Sale | SREIT

Related Party Transaction [Line Items]

Common stock, shares acquired (in shares) | shares

12,979,852

Common stock, shares acquired

$ 6,500

Ownership interest

6.89%

6.89%

7.00%

Disposed of by Sale | SREIT

Related Party Transaction [Line Items]

Issuance of common stock (in shares) | shares

56,979,352

186,236,224

Common stock, shares acquired (in shares) | shares

7,186,000

Common stock, shares acquired

$ 5,200

Disposed of by Sale | Office/Flex/Industrial Buildings

Related Party Transaction [Line Items]

Number of real estate properties disposed | property

21

Disposed of by Sale | Office Properties

Related Party Transaction [Line Items]

Number of real estate properties disposed | property

1

1

12

Singapore Portfolio | Disposed of by Sale

Related Party Transaction [Line Items]

Consideration

804,000

Closing costs

7,700

Real estate held for sale, net

$ 543,200

Number of real estate properties disposed | property

11

Closing costs

$ 7,700

Westpark Portfolio | Disposed of by Sale

Related Party Transaction [Line Items]

Consideration

$ 166,400

Closing costs

$ 3,200

Westpark Portfolio | Disposed of by Sale | Office/Flex/Industrial Buildings

Related Party Transaction [Line Items]

Number of real estate properties disposed | property

21

Net rentable area | ft²

778,472

Area of land | a

41

125 John Carpenter | Disposed of by Sale

Related Party Transaction [Line Items]

Consideration

$ 99,800

Closing costs

200

Real estate held for sale, net

82,400

Closing costs

$ 200

125 John Carpenter | Disposed of by Sale | Office Properties

Related Party Transaction [Line Items]

Number of real estate properties disposed | property

2

Net rentable area | ft²

445,317

Singapore Transaction | IPO [Member]

Related Party Transaction [Line Items]

Shares purchased (in shares) | shares

262,772,400

Sale of stock (in dollars per share) | $ / shares

$ 0.88

Singapore Transaction | IPO [Member] | KBS SORP

Related Party Transaction [Line Items]

Sale of stock, number of shares purchased (in shares) | shares

59,713,600

15,714,100

Sale of stock, number of shares sold (in shares) | shares

15,714,100

Sale of stock, period of sale after listing

30 days

Percent of shares not to be sold, pledged or transferred

50.00%

Period from listing in which shares not to be sold, pledged or transferred

12 months

Asset management fees | SREIT

Related Party Transaction [Line Items]

Due from related parties

$ 5,100

Acquisition fees on real estate | SREIT

Related Party Transaction [Line Items]

Due from related parties

$ 1,000

Singapore Portfolio

Related Party Transaction [Line Items]

Purchase price

$ 804,000

Number of real estate properties acquired | property

11

INVESTMENT IN UNCONSOLIDATED _3

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investments in Unconsolidated Joint Ventures) (Details) $ in Thousands	Dec. 31, 2019USD ($)property	Dec. 31, 2018USD ($)	May 02, 2014
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 78,276	$ 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%		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	$ 42,214	43,068
Battery Point Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investment Balance	$ 13,991	0
Pacific Oak Opportunity Zone Fund I
Schedule of Equity Method Investments [Line Items]
Number of Properties | property	2
Investment Balance	$ 20,846	$ 0

INVESTMENT IN UNCONSOLIDATED _4

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Narrative) (Details)	May 09, 2012USD ($)	Dec. 31, 2019USD ($)unitproperty	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Jul. 06, 2017a	May 02, 2014ft²
Schedule of Equity Method Investments [Line Items]
Initial capital contribution		$ 31,845,000	$ 1,320,000	$ 0
Income from NIP		0	428,000	2,073,000
Investments in unconsolidated joint ventures		78,276,000	44,869,000
Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest					55.00%
353 Sacramento | Office Properties | Disposed of by Sale
Schedule of Equity Method Investments [Line Items]
Ownership interest					45.00%
Area of land | a					0.35
110 William JV Partner
Schedule of Equity Method Investments [Line Items]
Return of capital				38,800,000
Income from NIP		5,200,000
Migdal Members
Schedule of Equity Method Investments [Line Items]
Ownership interest					45.00%
NIP Joint Venture
Schedule of Equity Method Investments [Line Items]
Initial capital contribution	$ 8,000,000
Return of capital		300,000	2,200,000	1,600,000
Distributions			2,600,000	3,700,000
Income from NIP			400,000	2,100,000
Investments in unconsolidated joint ventures		$ 1,225,000	1,476,000
NIP Joint Venture | Maximum
Schedule of Equity Method Investments [Line Items]
Ownership interest		5.00%
110 William Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest		60.00%				60.00%
Return of capital				58,200,000
Rentable square feet | ft²						928,157
Area of land | ft²						0.8
Investments in unconsolidated joint ventures		$ 0	325,000
Amortization of acquisition costs			1,400,000
Equity in income of unconsolidated joint venture		7,800,000
Equity in income (loss) of unconsolidated joint venture		$ 7,800,000
110 William Joint Venture | 110 William JV Partner
Schedule of Equity Method Investments [Line Items]
Ownership interest						40.00%
353 Sacramento Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership interest		55.00%
Distributions		$ 0	1,300,000	$ 0
Investments in unconsolidated joint ventures		42,214,000	43,068,000
Pacific Oak Opportunity Zone Fund I
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated joint ventures		$ 20,846,000	$ 0
Number of units in real estate property | unit		91
Investments		$ 20,600,000
Acquisition related costs		$ 200,000
Number of Joint Venture with Real Estate Under Development | property		2

INVESTMENT IN UNCONSOLIDATED _5

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (110 William Street Refinancing) (Details)	Mar. 07, 2019USD ($)extension	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)
Schedule of Equity Method Investments [Line Items]
Face amount		$ 453,334,000	$ 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]
Variable interest 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
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 _6

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Investment in 353 Sacramento Joint Venture) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Jul. 06, 2017
Migdal Members
Schedule of Equity Method Investments [Line Items]
Ownership %				45.00%
Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership %				55.00%
353 Sacramento Joint Venture
Schedule of Equity Method Investments [Line Items]
Ownership %	55.00%
Distributions	$ 0	$ 1,300,000	$ 0

INVESTMENT IN UNCONSOLIDATED _7

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Summarized Financial Information) (Details) - USD ($) $ in Thousands	3 Months Ended								6 Months Ended	12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Balance Sheets
Real estate assets, net of accumulated depreciation and amortization	$ 759,479				$ 552,974					$ 759,479	$ 552,974
Total assets	1,041,242				1,004,989					1,041,242	1,004,989
Other liabilities	19,801				21,006					19,801	21,006
Total liabilities, mezzanine equity and equity	1,041,242				1,004,989					1,041,242	1,004,989
Income Statement
Revenues	24,276	$ 25,282	$ 21,689	$ 21,911	23,705	$ 27,156	$ 25,290	$ 19,636		93,158	95,787	$ 140,714
Operating, maintenance, and management										29,294	29,110	42,611
Real estate taxes and insurance										12,631	11,762	17,404
Depreciation and amortization										34,004	35,006	53,446
Interest expense										28,849	31,054	37,149
Total expenses										132,890	115,600	182,577
Net (loss) income attributable to common stockholders	(28,586)	$ 772	$ (6,249)	$ 16,781	10,694	$ 36,497	$ 10,036	$ (23,681)		(17,282)	33,546	210,644
Company’s equity in loss of unconsolidated joint venture										6,621	(9,830)	(6,037)
110 William Joint Venture
Balance Sheets
Real estate assets, net of accumulated depreciation and amortization	242,430				235,613					242,430	235,613
Other assets	35,747				37,337					35,747	37,337
Total assets	278,177				272,950					278,177	272,950
Notes payable, net	292,221				267,311					292,221	267,311
Other liabilities	10,664				7,485					10,664	7,485
Partners’ capital	(24,708)				(1,846)					(24,708)	(1,846)
Total liabilities, mezzanine equity and equity	278,177				272,950					278,177	272,950
Income Statement
Revenues										34,186	38,539	37,338
Operating, maintenance, and management										9,213	9,844	10,056
Real estate taxes and insurance										7,064	6,718	6,281
Depreciation and amortization										11,166	15,596	16,544
Interest expense										16,742	17,815	13,134
Total expenses										44,185	49,973	46,015
Total other income										137	112	56
Net (loss) income attributable to common stockholders										(9,862)	(11,322)	(8,621)
Company’s equity in loss of unconsolidated joint venture										5,917	(6,835)	$ (5,214)
353 Sacramento Joint Venture
Balance Sheets
Real estate assets, net of accumulated depreciation and amortization	180,592				180,852					180,592	180,852
Other assets	21,822				13,123					21,822	13,123
Total assets	202,414				193,975					202,414	193,975
Notes payable, net	115,280				105,593					115,280	105,593
Other liabilities	11,193				10,863					11,193	10,863
Partners’ capital	75,941				77,519					75,941	77,519
Total liabilities, mezzanine equity and equity	$ 202,414				$ 193,975					202,414	193,975
Income Statement
Revenues									$ 7,053	17,015	11,397
Operating, maintenance, and management									2,189	3,785	3,654
Real estate taxes and insurance									1,198	2,822	2,372
Depreciation and amortization									3,408	6,485	5,680
Interest expense									2,302	5,734	5,374
Total expenses									9,097	18,826	17,080
Net (loss) income attributable to common stockholders									(2,044)	(1,811)	(5,683)
Company’s equity in loss of unconsolidated joint venture									$ 823	854	$ 2,995
Unconsolidated Joint Ventures
Income Statement
Company’s equity in loss of unconsolidated joint venture										$ 300

INVESTMENT IN UNCONSOLIDATED _8

INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Battery Point Series A-3 Preferred Units) (Details) - USD ($) $ / shares in Units, $ in Thousands	Mar. 20, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities		$ 78,276	$ 44,869
Dividend income		6,099	6,002	$ 2,531
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%
Battery Point Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities		13,991	$ 0
Battery Point Series A-3 Preferred Units | Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Investments in unconsolidated entities		14,000
Dividend income		$ 300
Point Trust LLC
Schedule of Equity Method Investments [Line Items]
Number of securities received (in shares)	210,000
Price per share (in dollars per share)	$ 25
Stock repurchased during period (in shares)		430,000
Stock repurchased during period		$ 10,800
Point Trust LLC | Series A-3 Preferred Units
Schedule of Equity Method Investments [Line Items]
Redemptions of common stock (in shares)	13,000
Stock redeemed (in dollars per share)	$ 1,000
Aggregate principal balance	$ 13,000
Principal paydow	$ 7,700
Number of securities received (in shares)	210,000
Price per share (in dollars per share)	$ 25
Investments	$ 5,300
Investment, dividends, annual rate	7.50%
Point Trust LLC | Series A-3 Preferred Units | Not Redeemed by February 28, 2020 [Member]
Schedule of Equity Method Investments [Line Items]
Investment, dividends, annual rate	10.00%
Point Trust LLC | Series A-3 Preferred Units | Not Redeemed by February 28, 2021 [Member]
Schedule of Equity Method Investments [Line Items]
Investment, dividends, annual rate	11.00%

SUPPLEMENTAL CASH FLOW AND SI_3

SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $2,739, $2,565 and $2,339 for the years ended December 31, 2019, 2018 and 2017, respectively	$ 25,703	$ 27,029	$ 32,688
Interest costs capitalized	2,739	2,565	2,339
Assets and liabilities deconsolidated in connection with the 353 Sacramento partial sale:
Real estate, net	759,479	552,974
Rents and other receivables, net	16,593	10,876
Prepaid Expense and Other Assets	13,988	11,782
Accounts payable and accrued liabilities	21,329	19,506
Below-market leases, net	3,180	3,528
Other liabilities	19,801	21,006
Assets and liabilities consolidated in connection with the PORT acquisition:
Acquisition fees due to affiliates on investment in unconsolidated entities	137	0	0
Accrued improvements to real estate	5,302	3,363	3,717
Redeemable common stock payable	829	10,000	8,595
Restricted stock payable	16,320	0	0
Mezzanine equity in connection with subordinated performance fee due upon termination	10,880	0	0
Restricted stock (additional paid in capital) in connection with subordinated performance fee due upon termination	5,440	0	0
Mortgage loan assumed by buyer in connection with sale of real estate	23,663	0	0
Redemptions of Series B Preferred Units in exchange for Series A-3 Preferred Units	2,992	0	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	829	1,418	8,666
Distributions paid to common stockholders through common stock issuances pursuant to the December 2017 special dividend	0	150,299	0
Distributions paid to common stockholders through common stock issuances pursuant to the November 2018 special dividend	0	127,911	0
PORT
Assets and liabilities consolidated in connection with the PORT acquisition:
Cash	8,104	0	0
Restricted cash	1,667	0	0
Rents and other receivables	989	0	0
Prepaid expenses and other assets	634	0	0
Real estate held for investment	109,922	0	0
Notes payable	61,885	0	0
Accounts payable and accrued liabilities	1,893	0	0
Other liabilities	904	0	0
353 Sacramento
Assets and liabilities deconsolidated in connection with the 353 Sacramento partial sale:
Real estate, net	0	0	170,586
Rents and other receivables, net	0	0	1,244
Prepaid Expense and Other Assets	0	0	555
Notes payable, net	0	0	87,132
Accounts payable and accrued liabilities	0	0	1,574
Below-market leases, net	0	0	2,960
Other liabilities	$ 0	$ 0	$ 924

REPORTING SEGMENTS (Details)

REPORTING SEGMENTS (Details) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019USD ($)	Sep. 30, 2019USD ($)	Jun. 30, 2019USD ($)	Mar. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Sep. 30, 2018USD ($)	Jun. 30, 2018USD ($)	Mar. 31, 2018USD ($)	Dec. 31, 2019USD ($)segment	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)
Segment Reporting [Abstract]
Number of reportable segments | segment									2
Income Statement
Total revenues	$ 24,276	$ 25,282	$ 21,689	$ 21,911	$ 23,705	$ 27,156	$ 25,290	$ 19,636	$ 93,158	$ 95,787	$ 140,714
Total expenses									(132,890)	(115,600)	(182,577)
Total other income (loss)									24,483	53,573	252,598
Net (loss) income before income taxes									(15,249)	33,760	$ 210,735
Balance Sheets
Total assets	1,041,242				$ 1,004,989				$ 1,041,242	$ 1,004,989
Strategic Opportunistic Properties
Segment Reporting [Abstract]
Number of reportable segments | segment									1
Income Statement
Total revenues									$ 91,351
Total expenses									(130,516)
Total other income (loss)									28,944
Net (loss) income before income taxes									(10,221)
Balance Sheets
Total assets	921,917								$ 921,917
Single-Family Homes
Segment Reporting [Abstract]
Number of reportable segments | segment									1
Income Statement
Total revenues									$ 1,807
Total expenses									(2,374)
Total other income (loss)									(4,461)
Net (loss) income before income taxes									(5,028)
Balance Sheets
Total assets	$ 119,325								$ 119,325

PORT PREFERRED STOCK (Narrative

PORT PREFERRED STOCK (Narrative) (Details) - USD ($) $ / shares in Units, $ in Thousands	Nov. 22, 2019	Nov. 06, 2019	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2022	Nov. 04, 2022	Dec. 31, 2021	Nov. 04, 2021	Nov. 04, 2020
Class of Stock [Line Items]
Preferred stock, shares authorized (in shares)			10,000,000	10,000,000
Issuance of common stock			$ 835	$ 1,418	$ 8,666
Series A Cumulative Convertible Redeemable Preferred Stock | Pacific Oak Residential Trust, Inc.
Class of Stock [Line Items]
Issuance of common stock (in shares)		15,000
Preferred stock, shares authorized (in shares)		25,000,000
Price per share (in dollars per share)		$ 1,000
Issuance of common stock		$ 15,000
Dividend rate, percentage		6.00%
Percent of outstanding shares as benchmark for redemption		10.00%
Conversion price of preferred stock into common stock (in dollars pr share)		$ 1,120
Series A Cumulative Convertible Redeemable Preferred Stock | Pacific Oak Residential Trust, Inc. | Forecast
Class of Stock [Line Items]
Price per share (in dollars per share)							$ 1,120		$ 1,000
Redemption price (in dollars per share)										$ 1,120
Series A Cumulative Convertible Redeemable Preferred Stock | Pacific Oak Residential Trust, Inc. | If All Shares are Not Redeemed
Class of Stock [Line Items]
Dividend rate, percentage		12.00%
Series B Cumulative Redeemable Preferred Stock | Pacific Oak Residential Trust, Inc.
Class of Stock [Line Items]
Issuance of common stock (in shares)	125
Price per share (in dollars per share)	$ 1,000
Issuance of common stock	$ 100
Dividend rate, percentage	12.50%
Series B Cumulative Redeemable Preferred Stock | Pacific Oak Residential Trust, Inc. | Forecast
Class of Stock [Line Items]
Price per share (in dollars per share)						$ 1,000		$ 1,050

PORT PREFERRED STOCK (Schedule)

PORT PREFERRED STOCK (Schedule) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017	Dec. 31, 2016
Class of Stock [Line Items]
Issuance of common stock	$ 835	$ 1,418	$ 8,666
Other offering costs	$ (27)	$ (11)	(8)
Balance (in shares)	65,866,765	66,822,861
Balance, December 31, 2019	$ 277,388	$ 293,964	$ 260,983	$ 295,550
Preferred Stock | Series A Prefered Stock
Class of Stock [Line Items]
Issuance of common stock (in shares)	15,000
Issuance of common stock	$ 15,000
Other offering costs	$ (91)
Balance (in shares)	15,000
Balance, December 31, 2019	$ 14,909
Preferred Stock | Series B Prefered Stock
Class of Stock [Line Items]
Issuance of common stock (in shares)	125
Issuance of common stock	$ 125
Other offering costs	$ (26)
Balance (in shares)	125
Balance, December 31, 2019	$ 99

SHARE-BASED COMPENSATION (Detai

SHARE-BASED COMPENSATION (Details) - USD ($)	Mar. 26, 2020	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Subordinated performance fee due upon termination to affiliate		$ 32,640,000	$ 0	$ 0
Restricted Stock | KBS Capital Advisors LLC
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Subordinated performance fee due upon termination to affiliate		32,600,000
Fair value of stock		$ 9.57
Restricted Stock | KBS Capital Advisors LLC | Forecast
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Issuance of common stock (in shares)	3,411,737
Period after vesting as requirement for redemption	60 days
Requirement of redemption of stock percent in cash	50.00%
Period after full vesting as requirement for redemption	60 days
Requirement of redemption of stock percent at net asset value price of share	0.6667%

SELECTED QUARTERLY FINANCIAL _3

SELECTED QUARTERLY FINANCIAL DATA (UNAUDITED) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Quarterly Financial Information Disclosure [Abstract]
Revenues	$ 24,276	$ 25,282	$ 21,689	$ 21,911	$ 23,705	$ 27,156	$ 25,290	$ 19,636	$ 93,158	$ 95,787	$ 140,714
Net income (loss)	(28,630)	2,290	(6,301)	17,460	10,612	36,421	9,993	(23,702)	(15,181)	33,324	210,580
Net income (loss) attributable to common stockholders	$ (28,586)	$ 772	$ (6,249)	$ 16,781	$ 10,694	$ 36,497	$ 10,036	$ (23,681)	$ (17,282)	$ 33,546	$ 210,644
Net (loss) income per common share, basic and diluted (in dollars per share)	$ (0.43)	$ 0.01	$ (0.09)	$ 0.25	$ 0.19	$ 0.67	$ 0.16	$ (0.38)	$ (0.26)	$ 0.57	$ 3.77
Distributions declared per common share (in dollars per share)	$ 0	$ 0.009	$ 0.009	$ 0.009	$ 2.950	$ 0.016	$ 0.016	$ 0.016	$ 0.03	$ 3	$ 3.89

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - KBS Capital Advisors LLC - Subordinated Performance Fee Due Upon Termination	12 Months Ended
	Dec. 31, 2019shares
Related Party Transaction [Line Items]
Shares to be awarded (in shares)	3,411,737
Period of redemption after vesting	60 days
Termination fee as percent of liquidation proceeds	50.00%
After November 1, 2024
Related Party Transaction [Line Items]
Period of redemption of remaining shares	60 days

SUBSEQUENT EVENTS (Distribution

SUBSEQUENT EVENTS (Distributions) (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 29, 2020	Jan. 23, 2020	Dec. 31, 2019	Sep. 30, 2019	Jun. 30, 2019	Mar. 31, 2019	Dec. 31, 2018	Sep. 30, 2018	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)			$ 0	$ 0.009	$ 0.009	$ 0.009	$ 2.950	$ 0.016	$ 0.016	$ 0.016	$ 0.03	$ 3	$ 3.89
Distributions											$ 1,721	$ 162,694	$ 203,809
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Distributions declared per common share (in dollars per share)		$ 0.00860000
Distributions	$ 600

SUBSEQUENT EVENTS (Series B Deb

SUBSEQUENT EVENTS (Series B Debentures) (Details) - Subsequent Event - Pacific Oak SOR (BVI) Holdings, Ltd. Series B Debentures - Bonds Payable $ in Millions	Feb. 16, 2020USD ($)	Feb. 16, 2020ILS (₪)
Subsequent Event [Line Items]
Maximum borrowing capacity	$ 74.1	₪ 254,100,000
Contractual interest rate, percentage	3.93%	3.93%
Principal of installment payments as percent of face amount	33.33%

SUBSEQUENT EVENTS (Narrative) (

SUBSEQUENT EVENTS (Narrative) (Details)	Jan. 22, 2020USD ($)	Feb. 19, 2020$ / shares	Dec. 31, 2019$ / shares	Dec. 31, 2018$ / shares
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)			$ 0.01	$ 0.01
Subsequent Event | Pacific Oak Strategic Opportunity REIT II, Inc.
Subsequent Event [Line Items]
Common stock, par value (in dollars per share)		$ 0.01
Merger, share ratio conversion		0.9643
Merger, issue price per share for incentive fees (in dollars per share)		$ 10.63
Subsequent Event | Maximum
Subsequent Event [Line Items]
NAV conversion, public offering | $	$ 1,000,000,000

SCHEDULE III REAL ESTATE ASSE_2

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Schedule) (Details) $ in Thousands	Sep. 07, 2016USD ($)unit	Dec. 31, 2019USD ($)	Dec. 31, 2018USD ($)	Dec. 31, 2017USD ($)	Dec. 31, 2016USD ($)
Real Estate and Accumulated Depreciation [Line Items]
Gross Amount at which Carried at Close of Period, Total		$ 824,860	$ 730,962	$ 574,684	$ 1,227,207
Accumulated Depreciation and Amortization		(65,381)	$ (49,842)	$ (41,817)	$ (120,176)
Aggregate cost of real estate for federal income tax purposes		940,100
Debt, outstanding amount		678,080
Subsidiary of Common Parent
Real Estate and Accumulated Depreciation [Line Items]
Interest rate on Class A non-voting preferred membership units	10.00%
Proceeds from sale of units	$ 800
Disposed of by Sale | Subsidiary of Common Parent
Real Estate and Accumulated Depreciation [Line Items]
Number of real estate units | unit	820
Richardson Portfolio Mortgage Loan | Mortgages
Real Estate and Accumulated Depreciation [Line Items]
Debt, outstanding amount		$ 36,000
Park Highlands
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Park Highlands II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Properties Held for Investment
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land		$ 149,767
Initial Cost to Company, Building and Improvements		594,224
Initial Cost to Company, Total		743,991
Cost Capitalized Subsequent to Acquisition		80,869
Gross Amount at which Carried at Close of Period, Land		175,317
Gross Amount at which Carried at Close of Period, Building and Improvements		649,543
Gross Amount at which Carried at Close of Period, Total		824,860
Accumulated Depreciation and Amortization		(65,381)
Properties Held for Investment | Total Richardson Portfolio
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		36,000
Initial Cost to Company, Land		5,107
Initial Cost to Company, Building and Improvements		30,998
Initial Cost to Company, Total		36,105
Cost Capitalized Subsequent to Acquisition		9,315
Gross Amount at which Carried at Close of Period, Land		6,244
Gross Amount at which Carried at Close of Period, Building and Improvements		39,176
Gross Amount at which Carried at Close of Period, Total		45,420
Accumulated Depreciation and Amortization		$ (11,273)
Properties Held for Investment | Palisades Central I
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Initial Cost to Company, Land		$ 1,037
Initial Cost to Company, Building and Improvements		8,628
Initial Cost to Company, Total		9,665
Cost Capitalized Subsequent to Acquisition		3,630
Gross Amount at which Carried at Close of Period, Land		1,037
Gross Amount at which Carried at Close of Period, Building and Improvements		12,258
Gross Amount at which Carried at Close of Period, Total		13,295
Accumulated Depreciation and Amortization		$ (3,565)
Original Date of Construction		1980
Date Acquired or Foreclosed on		Nov. 23, 2011
Properties Held for Investment | Palisades Central II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Initial Cost to Company, Land		$ 810
Initial Cost to Company, Building and Improvements		17,117
Initial Cost to Company, Total		17,927
Cost Capitalized Subsequent to Acquisition		3,889
Gross Amount at which Carried at Close of Period, Land		810
Gross Amount at which Carried at Close of Period, Building and Improvements		21,006
Gross Amount at which Carried at Close of Period, Total		21,816
Accumulated Depreciation and Amortization		$ (5,486)
Original Date of Construction		1985
Date Acquired or Foreclosed on		Nov. 23, 2011
Properties Held for Investment | Greenway I
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Initial Cost to Company, Land		$ 561
Initial Cost to Company, Building and Improvements		1,170
Initial Cost to Company, Total		1,731
Cost Capitalized Subsequent to Acquisition		977
Gross Amount at which Carried at Close of Period, Land		561
Gross Amount at which Carried at Close of Period, Building and Improvements		2,147
Gross Amount at which Carried at Close of Period, Total		2,708
Accumulated Depreciation and Amortization		$ (901)
Original Date of Construction		1983
Date Acquired or Foreclosed on		Nov. 23, 2011
Properties Held for Investment | Greenway III
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Initial Cost to Company, Land		$ 702
Initial Cost to Company, Building and Improvements		4,083
Initial Cost to Company, Total		4,785
Cost Capitalized Subsequent to Acquisition		(318)
Gross Amount at which Carried at Close of Period, Land		702
Gross Amount at which Carried at Close of Period, Building and Improvements		3,765
Gross Amount at which Carried at Close of Period, Total		4,467
Accumulated Depreciation and Amortization		$ (1,321)
Original Date of Construction		1983
Date Acquired or Foreclosed on		Nov. 23, 2011
Properties Held for Investment | Undeveloped Land
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Encumbrances		$ 0
Initial Cost to Company, Land		1,997
Initial Cost to Company, Building and Improvements		0
Initial Cost to Company, Total		1,997
Cost Capitalized Subsequent to Acquisition		1,137
Gross Amount at which Carried at Close of Period, Land		3,134
Gross Amount at which Carried at Close of Period, Building and Improvements		0
Gross Amount at which Carried at Close of Period, Total		3,134
Accumulated Depreciation and Amortization		$ 0
Date Acquired or Foreclosed on		Nov. 23, 2011
Properties Held for Investment | Park Highlands
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 0
Initial Cost to Company, Land		17,066
Initial Cost to Company, Building and Improvements		0
Initial Cost to Company, Total		17,066
Cost Capitalized Subsequent to Acquisition		17,101
Gross Amount at which Carried at Close of Period, Land		34,167
Gross Amount at which Carried at Close of Period, Building and Improvements		0
Gross Amount at which Carried at Close of Period, Total		34,167
Accumulated Depreciation and Amortization		$ 0
Date Acquired or Foreclosed on		Dec. 30, 2011
Properties Held for Investment | Park Centre
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 21,970
Initial Cost to Company, Land		3,251
Initial Cost to Company, Building and Improvements		27,941
Initial Cost to Company, Total		31,192
Cost Capitalized Subsequent to Acquisition		6,511
Gross Amount at which Carried at Close of Period, Land		3,251
Gross Amount at which Carried at Close of Period, Building and Improvements		34,452
Gross Amount at which Carried at Close of Period, Total		37,703
Accumulated Depreciation and Amortization		$ (6,334)
Original Date of Construction		2000
Date Acquired or Foreclosed on		Mar. 28, 2013
Properties Held for Investment | 1180 Raymond
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 30,250
Initial Cost to Company, Land		8,292
Initial Cost to Company, Building and Improvements		37,651
Initial Cost to Company, Total		45,943
Cost Capitalized Subsequent to Acquisition		1,477
Gross Amount at which Carried at Close of Period, Land		8,292
Gross Amount at which Carried at Close of Period, Building and Improvements		39,128
Gross Amount at which Carried at Close of Period, Total		47,420
Accumulated Depreciation and Amortization		$ (7,897)
Original Date of Construction		1929
Date Acquired or Foreclosed on		Aug. 20, 2013
Properties Held for Investment | Park Highlands II
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 0
Initial Cost to Company, Land		20,118
Initial Cost to Company, Building and Improvements		0
Initial Cost to Company, Total		20,118
Cost Capitalized Subsequent to Acquisition		6,960
Gross Amount at which Carried at Close of Period, Land		27,078
Gross Amount at which Carried at Close of Period, Building and Improvements		0
Gross Amount at which Carried at Close of Period, Total		27,078
Accumulated Depreciation and Amortization		$ 0
Date Acquired or Foreclosed on		Dec. 10, 2013
Properties Held for Investment | Richardson Land II
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		90.00%
Encumbrances		$ 0
Initial Cost to Company, Land		3,096
Initial Cost to Company, Building and Improvements		0
Initial Cost to Company, Total		3,096
Cost Capitalized Subsequent to Acquisition		322
Gross Amount at which Carried at Close of Period, Land		3,418
Gross Amount at which Carried at Close of Period, Building and Improvements		0
Gross Amount at which Carried at Close of Period, Total		3,418
Accumulated Depreciation and Amortization		$ 0
Date Acquired or Foreclosed on		Sep. 4, 2014
Properties Held for Investment | Crown Pointe
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 51,171
Initial Cost to Company, Land		22,590
Initial Cost to Company, Building and Improvements		62,610
Initial Cost to Company, Total		85,200
Cost Capitalized Subsequent to Acquisition		10,326
Gross Amount at which Carried at Close of Period, Land		22,590
Gross Amount at which Carried at Close of Period, Building and Improvements		72,936
Gross Amount at which Carried at Close of Period, Total		95,526
Accumulated Depreciation and Amortization		$ (11,753)
Original Date of Construction		1985/1989
Date Acquired or Foreclosed on		Feb. 14, 2017
Properties Held for Investment | Marquette Plaza
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 53,408
Initial Cost to Company, Land		10,387
Initial Cost to Company, Building and Improvements		75,878
Initial Cost to Company, Total		86,265
Cost Capitalized Subsequent to Acquisition		9,366
Gross Amount at which Carried at Close of Period, Land		10,387
Gross Amount at which Carried at Close of Period, Building and Improvements		85,244
Gross Amount at which Carried at Close of Period, Total		95,631
Accumulated Depreciation and Amortization		$ (7,119)
Original Date of Construction		1972
Date Acquired or Foreclosed on		Mar. 1, 2018
Properties Held for Investment | City Tower
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 89,000
Initial Cost to Company, Land		13,930
Initial Cost to Company, Building and Improvements		136,068
Initial Cost to Company, Total		149,998
Cost Capitalized Subsequent to Acquisition		7,259
Gross Amount at which Carried at Close of Period, Land		13,930
Gross Amount at which Carried at Close of Period, Building and Improvements		143,327
Gross Amount at which Carried at Close of Period, Total		157,257
Accumulated Depreciation and Amortization		$ (12,823)
Original Date of Construction		1988
Date Acquired or Foreclosed on		Mar. 6, 2018
Properties Held for Investment | Eight & Nine Corporate Centre
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 43,880
Initial Cost to Company, Land		17,401
Initial Cost to Company, Building and Improvements		58,794
Initial Cost to Company, Total		76,195
Cost Capitalized Subsequent to Acquisition		3,373
Gross Amount at which Carried at Close of Period, Land		17,401
Gross Amount at which Carried at Close of Period, Building and Improvements		62,167
Gross Amount at which Carried at Close of Period, Total		79,568
Accumulated Depreciation and Amortization		$ (4,356)
Original Date of Construction		2007
Date Acquired or Foreclosed on		Jun. 8, 2018
Properties Held for Investment | Georgia 400 Center
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Encumbrances		$ 59,690
Initial Cost to Company, Land		11,400
Initial Cost to Company, Building and Improvements		72,000
Initial Cost to Company, Total		83,400
Cost Capitalized Subsequent to Acquisition		8,134
Gross Amount at which Carried at Close of Period, Land		11,431
Gross Amount at which Carried at Close of Period, Building and Improvements		80,103
Gross Amount at which Carried at Close of Period, Total		91,534
Accumulated Depreciation and Amortization		$ (3,053)
Original Date of Construction		2001
Date Acquired or Foreclosed on		May 23, 2019
Properties Held for Investment | Single-Family Homes Portfolio:
Real Estate and Accumulated Depreciation [Line Items]
Encumbrances		$ 61,900
Initial Cost to Company, Land		17,129
Initial Cost to Company, Building and Improvements		92,284
Initial Cost to Company, Total		109,413
Cost Capitalized Subsequent to Acquisition		725
Gross Amount at which Carried at Close of Period, Land		17,128
Gross Amount at which Carried at Close of Period, Building and Improvements		93,010
Gross Amount at which Carried at Close of Period, Total		110,138
Accumulated Depreciation and Amortization		$ (773)
Properties Held for Investment | Birmingham Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 2,442
Initial Cost to Company, Building and Improvements		11,133
Initial Cost to Company, Total		13,575
Cost Capitalized Subsequent to Acquisition		75
Gross Amount at which Carried at Close of Period, Land		2,444
Gross Amount at which Carried at Close of Period, Building and Improvements		11,206
Gross Amount at which Carried at Close of Period, Total		13,650
Accumulated Depreciation and Amortization		$ (90)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019
Properties Held for Investment | Houston Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 6,157
Initial Cost to Company, Building and Improvements		22,855
Initial Cost to Company, Total		29,012
Cost Capitalized Subsequent to Acquisition		183
Gross Amount at which Carried at Close of Period, Land		6,154
Gross Amount at which Carried at Close of Period, Building and Improvements		23,041
Gross Amount at which Carried at Close of Period, Total		29,195
Accumulated Depreciation and Amortization		$ (191)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019
Properties Held for Investment | Jacksonville Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 2,986
Initial Cost to Company, Building and Improvements		24,236
Initial Cost to Company, Total		27,222
Cost Capitalized Subsequent to Acquisition		175
Gross Amount at which Carried at Close of Period, Land		2,986
Gross Amount at which Carried at Close of Period, Building and Improvements		24,411
Gross Amount at which Carried at Close of Period, Total		27,397
Accumulated Depreciation and Amortization		$ (210)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019
Properties Held for Investment | Memphis Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 2,679
Initial Cost to Company, Building and Improvements		15,767
Initial Cost to Company, Total		18,446
Cost Capitalized Subsequent to Acquisition		163
Gross Amount at which Carried at Close of Period, Land		2,679
Gross Amount at which Carried at Close of Period, Building and Improvements		15,930
Gross Amount at which Carried at Close of Period, Total		18,609
Accumulated Depreciation and Amortization		$ (131)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019
Properties Held for Investment | Atlanta Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 783
Initial Cost to Company, Building and Improvements		3,870
Initial Cost to Company, Total		4,653
Cost Capitalized Subsequent to Acquisition		34
Gross Amount at which Carried at Close of Period, Land		783
Gross Amount at which Carried at Close of Period, Building and Improvements		3,904
Gross Amount at which Carried at Close of Period, Total		4,687
Accumulated Depreciation and Amortization		$ (38)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019
Properties Held for Investment | Oklahoma Homes
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent		100.00%
Initial Cost to Company, Land		$ 2,082
Initial Cost to Company, Building and Improvements		14,423
Initial Cost to Company, Total		16,505
Cost Capitalized Subsequent to Acquisition		95
Gross Amount at which Carried at Close of Period, Land		2,082
Gross Amount at which Carried at Close of Period, Building and Improvements		14,518
Gross Amount at which Carried at Close of Period, Total		16,600
Accumulated Depreciation and Amortization		$ (113)
Original Date of Construction		Various
Date Acquired or Foreclosed on		Nov. 4, 2019

SCHEDULE III REAL ESTATE ASSE_3

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2019	Dec. 31, 2018	Dec. 31, 2017
Real Estate
Balance at the beginning of the year	$ 730,962	$ 574,684	$ 1,227,207
Acquisitions	200,918	312,457	170,505
Improvements	34,435	31,818	37,219
Write-off of fully depreciated and fully amortized assets	(1,060)	(7,329)	(18,735)
Loss due to property damages	0	(964)	(668)
Sales	(140,395)	(178,068)	(664,114)
Reimbursement of construction costs	0	(1,636)	0
Deconsolidation	0	0	(176,730)
Balance at the end of the year	824,860	730,962	574,684
Accumulated depreciation and amortization:
Balance at the beginning of the year	49,842	41,817	120,176
Depreciation and amortization expense	31,961	32,661	48,994
Write-off of fully depreciated and fully amortized assets	(1,060)	(7,329)	(18,735)
Sales	(15,362)	(17,307)	(102,474)
Deconsolidation	0	0	(6,144)
Balance at the end of the year	$ 65,381	$ 49,842	$ 41,817