HGR Liquidating Trust 10-Q 16 Nov 15 2015 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2015	Nov. 12, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Hines Global REIT, Inc.
Entity Central Index Key	1,453,818
Document Type	10-Q
Document Period End Date	Sep. 30, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		274.2

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
ASSETS
Investment property, net	$ 3,237,048	$ 2,964,699
Investment in unconsolidated entities	2,139	2,873
Cash and cash equivalents	127,061	143,609
Restricted cash	20,938	19,955
Derivative instruments	688	14,661
Tenant and other receivables, net	83,682	64,212
Intangible lease assets, net	700,246	743,465
Deferred leasing costs, net	84,025	59,902
Deferred financing costs, net	15,523	12,879
Real estate loans receivable, net	68,070	74,400
Other assets	13,983	25,939
Total assets	4,353,403	4,126,594
Liabilities:
Accounts payable and accrued expenses	101,003	91,007
Due to affiliates	12,844	14,106
Intangible lease liabilities, net	98,586	84,385
Other liabilities	44,090	43,633
Derivative instruments	99	9,848
Distributions payable	18,775	17,558
Notes payable to affiliates	0	17,601
Notes payable	2,504,749	2,112,359
Total liabilities	$ 2,780,146	$ 2,390,497
Commitments and contingencies
Stockholders’ equity:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of September 30, 2015 and December 31, 2014
Common stock, $.001 par value; 1,500,000 shares authorized, 273,513 and 270,657 issued and outstanding as of September 30, 2015 and December 31, 2014, respectively	$ 274	$ 271
Additional paid-in capital	1,910,541	2,014,113
Accumulated deficit	(217,698)	(201,227)
Accumulated other comprehensive income (loss)	(167,976)	(123,769)
Total stockholders’ equity	1,525,141	1,689,388
Noncontrolling interests	48,116	46,709
Total equity	1,573,257	1,736,097
Total liabilities and equity	$ 4,353,403	$ 4,126,594

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 30, 2015	Dec. 31, 2014
Stockholders’ equity:
Preferred stock, par value (in dollars per share)	$ 0.001	$ 0.001
Preferred stock, shares authorized	500,000,000	500,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value (in dollars per share)	$ 0.001	$ 0.001
Common stock, shares authorized	1,500,000,000	1,500,000,000
Common stock, shares issued	273,513,000	270,657,000
Common stock, shares outstanding	273,513,000	270,657,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues:
Rental revenue	$ 110,253	$ 109,917	$ 325,947	$ 318,265
Other revenue	9,280	7,788	26,406	22,404
Total revenues	119,533	117,705	352,353	340,669
Expenses:
Property operating expenses	22,672	21,068	67,795	63,288
Real property taxes	12,501	12,507	35,609	32,712
Property management fees	2,520	2,521	7,613	7,140
Depreciation and amortization	48,027	49,401	139,148	146,861
Acquisition related expenses	(175)	158	8,332	21,480
Asset management and acquisition fees	9,025	9,026	35,542	39,555
General and administrative expenses	2,037	1,831	6,429	5,070
Total expenses	96,607	96,512	300,468	316,106
Income (loss) before other income (expenses) and benefit (provision) for income taxes	22,926	21,193	51,885	24,563
Other income (expenses):
Gain (loss) on derivative instruments	(59)	8,946	586	6,819
Gain (loss) on sale of real estate investments	55	0	(1,073)	0
Foreign currency gains (losses)	(1,485)	(3,899)	(5,538)	(9,651)
Interest expense	(17,794)	(20,357)	(54,759)	(58,280)
Interest income	80	160	345	437
Income (loss) before benefit (provision) for income taxes	3,723	6,043	(8,554)	(36,112)
Benefit (provision) for income taxes	(1,570)	(1,865)	(3,559)	(4,635)
Net income (loss)	2,153	4,178	(12,113)	(40,747)
Net (income) loss attributable to noncontrolling interests	(1,086)	(964)	(4,358)	(3,005)
Net income (loss) attributable to common stockholders	$ 1,067	$ 3,214	$ (16,471)	$ (43,752)
Basic and diluted income (loss) per common share (in dollars per share)	$ 0	$ 0.01	$ (0.06)	$ (0.17)
Distributions declared per common share (in dollars per share)	$ 0.16	$ 0.16	$ 0.49	$ 0.49
Weighted average number of common shares outstanding	273,201	268,982	272,293	260,981
Net comprehensive income (loss):
Net income (loss)	$ 2,153	$ 4,178	$ (12,113)	$ (40,747)
Other comprehensive income (loss):
Foreign currency translation adjustment	(28,837)	(55,191)	(44,817)	(43,689)
Net comprehensive income (loss)	(26,684)	(51,013)	(56,930)	(84,436)
Net comprehensive (income) loss attributable to noncontrolling interests	(230)	355	(3,748)	(2,604)
Net comprehensive income (loss) attributable to common stockholders	$ (26,914)	$ (50,658)	$ (60,678)	$ (87,040)

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Hines Global REIT, Inc. Common Stock [Member]	Hines Global REIT, Inc. Additional Paid-in Capital [Member]	Hines Global REIT, Inc. Accumulated Deficit [Member]	Hines Global REIT, Inc. Accumulated Other Comprehensive Income (Loss) [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning balance, shares at Dec. 31, 2013		229,035
Beginning balance at Dec. 31, 2013		$ 229	$ 1,800,936	$ (206,305)	$ (23,921)	$ 1,570,939	$ 43,268
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		43,110
Issuance of common shares		$ 43	440,124			440,167
Contribution from noncontrolling interest							146
Distributions declared			(126,808)			(126,808)	(175)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(2,035)
Redemption of common shares, shares		(2,659)
Redemption of common shares		$ (3)	(27,155)			(27,158)
Selling commissions and dealer manager fees			(36,355)			(36,355)
Issuer costs			(1,967)			(1,967)
Net income (loss)	$ (40,747)			(43,752)		(43,752)	3,005
Foreign currency translation adjustment	$ (43,689)				(43,288)	(43,288)	(401)
Ending balance, shares at Sep. 30, 2014		269,486
Ending balance at Sep. 30, 2014		$ 269	2,048,775	(250,057)	(67,209)	1,731,778	43,808
Beginning balance, shares at Dec. 31, 2014	270,657	270,657
Beginning balance at Dec. 31, 2014	$ 1,736,097	$ 271	2,014,113	(201,227)	(123,769)	1,689,388	46,709
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		7,354
Issuance of common shares		$ 7	70,347			70,354
Contribution from noncontrolling interest							953
Distributions declared			(132,372)			(132,372)	(533)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(2,761)
Redemption of common shares, shares		(4,498)
Redemption of common shares		$ (4)	(41,494)			(41,498)
Issuer costs			(53)			(53)
Net income (loss)	(12,113)			(16,471)		(16,471)	4,358
Foreign currency translation adjustment	$ (44,817)				(45,317)	(45,317)	(610)
Foreign currency translation adjustment reclassified into earnings					1,110	1,110
Ending balance, shares at Sep. 30, 2015	273,513	273,513
Ending balance at Sep. 30, 2015	$ 1,573,257	$ 274	$ 1,910,541	$ (217,698)	$ (167,976)	$ 1,525,141	$ 48,116

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (12,113)	$ (40,747)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	151,616	158,934
Foreign currency (gains) losses	5,538	9,651
(Gain) loss on the sale of real estate investments	1,073	0
(Gain) loss on derivative instruments	(586)	(6,819)
Changes in assets and liabilities:
Change in other assets	(3,416)	(976)
Change in tenant and other receivables	(21,550)	(23,910)
Change in deferred leasing costs	(31,769)	(17,792)
Change in accounts payable and accrued expenses	9,903	19,707
Change in other liabilities	(3,429)	10,408
Change in due to affiliates	(1,338)	3,257
Net cash from operating activities	93,929	111,713
CASH FLOWS FROM INVESTING ACTIVITIES:
Investments in acquired properties and lease intangibles	(431,169)	(594,134)
Capital expenditures at operating properties and developments	(8,512)	(43,639)
Distributions from unconsolidated entity in excess of equity in earnings	721	0
Investments in real estate loans receivable	(10,255)	(29,130)
Proceeds from collection of real estate loans receivable	17,591	13,948
Change in restricted cash	(1,674)	(8,996)
Net cash from investing activities	(433,298)	(661,951)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	0	378,804
Contribution from noncontrolling interest	953	146
Redemption of common shares	(42,994)	(25,907)
Payments of issuer costs	(46)	(2,397)
Payment of selling commissions and dealer manager fees	0	(37,011)
Distributions paid to stockholders and noncontrolling interests	(64,034)	(58,191)
Proceeds from notes payable	1,337,672	833,059
Payments on related party notes payable	(17,017)	0
Payments on notes payable	(876,546)	(515,412)
Change in security deposit liability	635	1,349
Deferred financing costs paid	(7,648)	(3,931)
Payments related to interest rate contracts	(2,340)	(36)
Net cash from financing activities	328,635	570,473
Effect of exchange rate changes on cash	(5,814)	(4,546)
Net change in cash and cash equivalents	(16,548)	15,689
Cash and cash equivalents, beginning of period	143,609	124,859
Cash and cash equivalents, end of period	$ 127,061	$ 140,548

Organization

Organization	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION The accompanying interim unaudited condensed consolidated financial information has been prepared according to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted according to such rules and regulations. For further information, refer to the financial statements and footnotes for the year ended December 31, 2014 included in Hines Global REIT, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2014 . In the opinion of management, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly and in conformity with GAAP the financial position of Hines Global REIT, Inc. as of September 30, 2015 , the results of operations for the three and nine months ended September 30, 2015 and 2014 and cash flows for the nine months ended September 30, 2015 and 2014 have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. Hines Global REIT, Inc. (the “Company”), was formed as a Maryland corporation on December 10, 2008 under the General Corporation Law of the state of Maryland for the purpose of engaging in the business of investing in and owning commercial real estate properties and other real estate investments. The Company conducts most of its operations through Hines Global REIT Properties, LP (the “Operating Partnership”) and subsidiaries of the Operating Partnership. The Company operates in a manner to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The business of the Company is managed by Hines Global REIT Advisors LP (the “Advisor”), an affiliate of Hines Interests Limited Partnership (“Hines”), pursuant to the Advisory Agreement between the Company, the Advisor and the Operating Partnership (the “Advisory Agreement”). On August 5, 2009 , the Company commenced its initial public offering of common stock for sale to the public which expired on February 1, 2013 . The Company commenced a follow-on offering effective February 4, 2013 , through which it offered up to $3.5 billion in shares of common stock (the “Second Offering”), and ceased offering primary shares pursuant to the Second Offering on April 11, 2014 . The Company continues to offer up to $500.0 million of shares of its common stock under its distribution reinvestment plan, pursuant to an offering which commenced on April 24, 2014 (the “DRP Offering”). Collectively, through its public offerings, the Company received gross offering proceeds of $2.9 billion from the sale of 285.8 million shares from inception through September 30, 2015 , all of which have been invested in the Company’s real estate portfolio. In March 2015, the Company completed its investment of the proceeds raised through its public offerings. As of September 30, 2015 , the Company owned interests in 43 real estate investments, consisting of the following types of investments: • Domestic office investments ( 12 investments) • Domestic other investments ( 10 investments) • International office investments ( 10 investments) • International other investments ( 11 investments) Discussed below are additional details related to the Company’s investments in real estate-related debt as of September 30, 2015 . Each of these investments is included in the Company’s domestic other investments segment. All other investments are operating real estate investments. • Flagship Capital JV — 97% interest in a joint venture with Flagship Capital GP, which was formed to provide real estate loans. The joint venture has seven loans receivable, totaling $43.9 million , outstanding as of September 30, 2015 . The Company is not affiliated with Flagship Capital GP. See Note 5 — Real Estate Loans Receivable for additional information regarding these loans receivable. • The Rim Loan Receivable — the Company committed to provide construction financing to the developer of four additional retail parcels at The Rim, an outdoor retail center located in San Antonio, Texas. In April 2015, the Company completed the acquisition of the first of these additional parcels, consisting of 259,316 square feet. The amount of the commitment, as amended in April 2015, is $26.3 million . As of September 30, 2015 , the Company had loaned $20.3 million to the developer. The Company is not affiliated with the developer of the project. See “— Unconsolidated VIEs” for additional information. Consolidated VIEs The WaterWall Place JV, Aviva Coral Gables JV, and Flagship Capital JV were each determined to be variable interest entities (“VIE”) in which the Company is the primary beneficiary and the Company has consolidated these joint ventures accordingly. A summary of the assets and liabilities of these consolidated VIEs, as well as the maximum loss exposure of the Company from these consolidated VIEs, is as follows (in thousands): September 30, 2015 December 31, 2014 Maximum risk of loss (1) $ 53,978 $ 47,986 Assets held by VIEs $ 171,135 $ 188,264 Assets held as collateral for debt $ 171,135 $ 188,264 Liabilities held by VIEs $ 105,541 $ 131,691 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs. Restrictions on the use of a VIE’s assets are significant because they serve as collateral for such VIE’s debt, and the Company is generally required to obtain its partners’ approval in accordance with the respective joint venture agreements for any major transactions. Transactions with these joint ventures on the Company’s consolidated financial statements primarily relate to (i) contributions for the funding of loans receivable or distributions related to the receipt of proceeds from the collection of loans receivable at the Flagship JV or (ii) operating distributions received from the WaterWall Place JV. The Company and its partners are subject to the provisions of the joint venture agreements for the VIEs, which include provisions for when additional contributions may be required. During the nine months ended September 30, 2015 , the Company made capital contributions of $6.0 million , net of received distributions of $11.5 million in accordance with the Company’s respective joint venture agreements. During the nine months ended September 30, 2014 , the Company received distributions of $0.2 million , net of capital contributions of $4.5 million in accordance with the Company’s respective joint venture agreements. This activity is eliminated in consolidation of the VIEs, but increases, or decreases in the case of distributions received, the Company’s maximum risk of loss. Unconsolidated VIEs The Rim Loan Receivable In February 2014, the Company completed the acquisition of The Rim, an outdoor retail center located in San Antonio, Texas. In August 2014, the Company entered into a loan agreement with Central Rim LLC (the “Rim Borrower”), as amended in April 2015, to provide $26.3 million of construction financing for the development of four additional retail parcels at The Rim. In April 2015, the Company completed the acquisition of an additional 259,316 square feet of retail space at The Rim. Following the completion of the development of each parcel, the Company will have certain rights or obligations to purchase each parcel. As a result of these purchase rights or obligations, and due to the fact that the Rim Borrower lacks the obligation to absorb losses upon the achievement of certain metrics, the Company has determined that the entity that owns these parcels is considered to be a VIE. Additionally, the Rim Borrower was determined to be the primary beneficiary of this VIE since it is the party most directly responsible for the success of the entity. The Company has funded $20.3 million through this agreement as of September 30, 2015 . The Company's maximum exposure to loss is the amount borrowed under the facility agreement, plus any unpaid interest. The most significant source of the Company's exposure to the VIE is the variability related to the Rim Borrower's credit risk and its ability to repay the amounts funded. The 1377 Equity Method Investment The Company has a 51.7% ownership in 1377, a multi-family development project in Atlanta, Georgia, that was completed in March 2014 . The Company’s investment in 1377 was determined to be a VIE in which the Company was determined not to be the primary beneficiary since the joint venture partner has the ability to direct the activities that significantly impact the economic performance of the VIE and the secured loan is fully guaranteed by the joint venture partner. The Company’s maximum loss exposure is expected to change in future periods as a result of additional contributions made and any additional borrowings under its loan receivable with the VIE. Other than the initial capital contributions provided by the Company, the Company has not provided any additional subordinated financial support. The table below presents the activity of the Company's unconsolidated entities as of and for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Investment in Unconsolidated Entities 2015 2014 2015 2014 Beginning balance $ 2,113 $ 3,573 $ 2,873 $ 3,573 Equity in earnings 176 — 291 — Distributions (150 ) — (1,025 ) — Ending balance $ 2,139 $ 3,573 $ 2,139 $ 3,573 The table below summarizes the Company’s maximum loss exposure related to its unconsolidated VIEs as of September 30, 2015 and December 31, 2014 , (in thousands) which is equal to the carrying value of its investment in the unconsolidated VIEs included in the balance sheet line item “Investment in unconsolidated entities” and the Company’s outstanding loan receivable balances of $24.3 million and $15.3 million as of September 30, 2015 and December 31, 2014 , respectively, held by the VIEs which is included in the balance sheet line item “Real estate loans receivable” in the condensed consolidated balance sheets. Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (2) September 30, 2015 $ 2,139 $ 26,448 December 31, 2014 $ 2,873 $ 18,159 (1) Represents the Company’s contributions, net of distributions, made to its VIEs, as well as the equity in earnings on the investments. (2) Maximum Risk of Loss is equal to the amount outstanding under the loan plus the Company’s contributions, net of distributions, made to the VIEs as of the date indicated, as well as the equity in earnings on the investments. See Note 5 — Real Estate Loans Receivable for additional information regarding the loan.

Summary of Significant Accounti

Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Described below are certain of the Company’s significant accounting policies. The disclosures regarding several of the policies have been condensed or omitted in accordance with interim reporting regulations specified by Form 10-Q. Please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2014 for a complete listing of all of its significant accounting policies. Tenant and Other Receivables Tenant and other receivables are shown at cost in the condensed consolidated balance sheets, net of allowance for doubtful accounts of $1.5 million and $1.9 million at September 30, 2015 and December 31, 2014 , respectively. Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations. For the three months ended September 30, 2015 and 2014 , $1.7 million and $1.7 million , respectively, were amortized into interest expense. For the nine months ended September 30, 2015 and 2014 , $4.7 million and $4.8 million , respectively, were amortized into interest expense. Other Assets Other assets included the following (in thousands): September 30, 2015 December 31, 2014 Deposits on investment property (1) $ — $ 15,000 Prepaid expenses 4,253 2,021 Deferred tax assets 9,262 8,127 Other 468 791 Other assets $ 13,983 $ 25,939 (1) As of December 31, 2014, this amount consisted of a deposit that had been paid related to the acquisition of The Summit, which was completed in March 2015. Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of September 30, 2015 and December 31, 2014 , respectively, the Company recorded liabilities of $30.8 million and $34.6 million related to prepaid rental payments, which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease, including rent holidays, if any. Straight-line rent receivable was $65.6 million and $47.4 million as of September 30, 2015 and December 31, 2014 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term. Immaterial Restatement Subsequent to the issuance of the Company’s 2014 consolidated financial statements, an error was identified in the Company’s disclosure regarding reportable segments (Note 11). This error resulted in the understatement of revenue of the Company’s international office investments segment and a corresponding overstatement of revenue of the Company’s international other investments segment by $7.6 million for the three months ended September 30, 2014 and $24.2 million for the nine months ended September 30, 2014. The prior period amounts disclosed in Note 11 - Reportable Segments have been revised to reflect the correct amounts for these periods. There was no change in total revenue as disclosed in the same footnote. Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board issued amendments to change its prior guidance on the presentation of debt issuance costs in financial statements. Under the new guidance, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset, except for the costs related to lines of credit which will remain an asset in the financial statements. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. Upon adoption, the Company will reclassify the deferred financing costs, excluding costs related to lines of credits, net to notes payable on the balance sheet.

Investment Property

Investment Property	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
INVESTMENT PROPERTY	INVESTMENT PROPERTY Investment property consisted of the following amounts as of September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 December 31, 2014 Buildings and improvements (1) $ 2,739,986 $ 2,501,176 Less: accumulated depreciation (185,503 ) (138,821 ) Buildings and improvements, net 2,554,483 2,362,355 Land 682,565 602,344 Investment property, net $ 3,237,048 $ 2,964,699 (1) Included in buildings and improvements was approximately $24.3 million of construction-in-progress related to the Company’s multi-family development in Miami, Florida as of December 31, 2014 . The development was completed in April 2015. As of September 30, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 916,027 $ 109,836 $ (123,770 ) Less: accumulated amortization (280,684 ) (44,933 ) 25,184 Net $ 635,343 $ 64,903 $ (98,586 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 890,495 $ 110,649 $ (104,528 ) Less: accumulated amortization (221,316 ) (36,363 ) 20,143 Net $ 669,179 $ 74,286 $ (84,385 ) Amortization expense of in-place leases was $29.6 million and $32.3 million for the three months ended September 30, 2015 and 2014 , respectively. Net amortization of out-of-market leases resulted in a decrease to rental revenue of $0.5 million and $1.2 million for the three months ended September 30, 2015 and 2014 , respectively. Amortization expense of in-place leases was $86.1 million and $97.2 million for the nine months ended September 30, 2015 and 2014 , respectively. Net amortization of out-of-market leases resulted in a decrease to rental revenue of $2.8 million and $4.4 million for the nine months ended September 30, 2015 and 2014 , respectively. Anticipated amortization of in-place leases and out-of-market leases, net, for the period from October 1, 2015 through December 31, 2015 and for each of the years ending December 31, 2016 through December 31, 2019 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net October 1, 2015 through December 31, 2015 $ 27,717 $ 515 2016 104,029 2,263 2017 82,359 930 2018 61,200 (2,204 ) 2019 48,489 (3,671 ) Leases The Company has entered into non-cancelable lease agreements with tenants for space. As of September 30, 2015 , the approximate fixed future minimum rentals for the period from October 1, 2015 through December 31, 2015 , for each of the years ending December 31, 2016 through December 31, 2019 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals October 1, 2015 through December 31, 2015 $ 82,317 2016 328,558 2017 316,463 2018 237,661 2019 208,506 Thereafter 1,276,113 Total $ 2,449,618 Pursuant to the lease agreements with certain tenants in one of its buildings, a wholly-owned subsidiary of the Company receives fees for the provision of various telecommunication-related services and the use of certain related facilities. The fixed future minimum rentals expected to be received for such services for the period from October 1, 2015 through December 31, 2015 , for each of the years ended December 31, 2016 through 2019 and for the period thereafter are $1.1 million , $4.2 million , $3.6 million , $3.5 million , $1.5 million and $4.3 million , respectively. During the nine months ended September 30, 2015 and 2014 , the Company did not earn more than 10% of its total rental revenue from any individual tenant.

Recent Acquisitions of Real Est

Recent Acquisitions of Real Estate	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
RECENT ACQUISITIONS OF REAL ESTATE	RECENT ACQUISITIONS OF REAL ESTATE The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase price of each property acquired in 2015 and 2014 as follows (in thousands): Property Name Acquisition Date Building and Improvements (1) Land (1) In-place Lease Intangibles (1) Out-of- Market Lease Intangibles, Net (1) Total (1) Simon Hegele Logistics (2) 1/7/2015 & 06/03/14 $ 56,428 $ 13,245 $ 9,154 $ 41 $ 78,868 The Summit 03/04/15 $ 217,974 $ 68,090 $ 45,360 $ (14,920 ) $ 316,504 Harder Logistics Portfolio 04/01/15 $ 38,924 $ 7,986 $ 9,092 $ 1,150 $ 57,152 The Rim (3) 04/30/15 & 02/13/14 $ 127,975 $ 82,430 $ 53,860 $ (28,300 ) $ 235,965 25 Cabot Square 03/28/14 $ 165,121 $ — $ 206,640 $ (16 ) $ 371,745 818 Bourke 10/31/14 $ 82,867 $ 36,487 $ 17,082 $ (792 ) $ 135,644 (1) For acquisitions denominated in a foreign currency, amounts have been translated to U.S. dollars at a rate based on the exchange rate in effect on the acquisition date. (2) In June 2014, the Company acquired the Simon Hegele Logistics facility in Forchheim, Germany. In January 2015, the Company acquired the second phase of the facility. (3) In February 2014, the Company acquired The Rim retail center in San Antonio, Texas. In April 2015, the Company acquired an additional phase of the center. The purchase price allocations for the Company’s 2015 acquisitions are preliminary and subject to change as it finalizes the allocations, which will be no later than twelve months from the acquisition date. The weighted average amortization period for the intangible assets and liabilities acquired in connection with the 2015 and 2014 acquisitions, as of the date of the respective acquisition, was as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Simon Hegele Logistics (2nd Phase) 11.3 — — The Summit 5.1 3.0 5.6 Harder Logistics Portfolio 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 2014 Acquisitions: The Rim (1st Phase) 16.5 12.9 35.3 25 Cabot Square (1) 11.7 0.5 3.0 Simon Hegele Logistics (1st Phase) 13.4 13.4 — 818 Bourke 4.1 3.3 3.1 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for this intangible. The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2015 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 (in thousands): For the Three Months Ended For the Nine Months Ended 2015 Acquisitions September 30, 2015 September 30, 2015 Simon Hegele Logistics (1) Revenue $ 1,350 $ 4,014 Net income (loss) $ 118 $ (13 ) The Summit Revenue $ 6,664 $ 15,357 Net income (loss) $ 315 $ 330 Harder Logistics Portfolio Revenue $ 1,170 $ 2,301 Net income (loss) $ 282 $ (6,457 ) The Rim (2) Revenue $ 6,114 $ 17,102 Net income (loss) $ (139 ) $ 1,519 (1) Includes the total revenue and net income of the Simon Hegele Logistics facility, including the first phase of the facility acquired in June 2014, which is 100% leased to a single tenant. The second phase of the facility was acquired in January 2015 and includes 236,661 square feet of net rentable area, which represents 38.9% of the net rentable area of the total Simon Hegele Logistics facility. (2) Includes the total revenue and net income of The Rim retail center, including the first phase of the center acquired in February 2014. The second phase of the center was acquired in April 2015 and includes 259,316 square feet of net rentable area, which represents 28.3% of the net rentable area of the total Rim facility. The following unaudited consolidated information is presented to give effect to current year acquisitions through September 30, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $(0.2) million and $0.3 million for the three months ended September 30, 2015 and 2014 , and $17.2 million and $35.1 million for the nine months ended September 30, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2014 , nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2015 Pro Forma 2014 Pro Forma 2015 Pro Forma 2014 Revenues $ 119,533 $ 125,557 $ 357,998 $ 363,971 Net income (loss) $ 1,790 $ 4,317 $ 5,469 $ (6,854 ) Basic and diluted income (loss) per common share $ — $ 0.01 $ — $ (0.04 ) The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2014 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2014 (in thousands): For the Three Months Ended For the Nine Months Ended 2014 Acquisitions September 30, 2014 September 30, 2014 The Rim Revenue $ 6,033 $ 12,513 Net income (loss) $ 937 $ 268 25 Cabot Square Revenue $ 8,839 $ 18,532 Net income (loss) $ 608 $ (17,433 ) Simon Hegele Logistics Revenue $ 930 $ 1,231 Net income (loss) $ (15 ) $ (3,556 ) The following unaudited consolidated information is presented to give effect to the 2014 acquisitions through September 30, 2014 as if the acquisitions occurred on January 1, 2013 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $0.3 million and $11.7 million for the three months ended September 30, 2014 and 2013 , and $35.1 million and $73.2 million for the nine months ended September 30, 2014 and 2013 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2013, nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2014 Pro Forma 2013 Pro Forma 2014 Pro Forma 2013 Revenues $ 117,705 $ 105,147 $ 353,101 $ 270,645 Net income (loss) $ 4,469 $ (3,984 ) $ (6,571 ) $ (14,153 ) Basic and diluted income (loss) per common share $ 0.02 $ (0.02 ) $ (0.03 ) $ (0.08 )

Real Estate Loans Receivable

Real Estate Loans Receivable	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOANS RECEIVABLE Real estate loans receivable included the following at September 30, 2015 and December 31, 2014 (in thousands): Property Original Funding Date Maturity Date Interest Rate Total Loan Commitment Balance as of Balance as of Flagship Capital JV Houston Retail Portfolio (1) 8/2/2012 8/2/2015 7.60% 11,804 — 11,457 Motor Circle (2) 12/28/2012 12/28/2015 8.00% 3,175 — 2,423 Falls of Kirkwood 10/18/2013 8/15/2016 8.00% 6,300 6,233 6,222 Falls of Town Park Apartments 12/30/2013 12/30/2015 7.75% 5,327 5,272 5,227 Precinct Villages 3/18/2014 3/17/2016 8.50% 2,595 1,799 1,811 Manor Palms (3) 6/26/2014 12/25/2015 7.00% 4,109 — 3,979 Randall’s 7/28/2014 7/28/2017 6.25% 10,939 8,295 8,110 Finesilver 7/31/2014 7/31/2016 6.45% 7,233 5,198 5,165 Dymaxion Apartments 12/15/2014 12/15/2016 7.60% 8,500 8,204 7,684 Marbach Park Apartments 12/15/2014 12/15/2016 7.60% 9,500 8,944 7,676 7.29% $ 69,482 $ 43,945 $ 59,754 Less: Origination fees (184 ) (640 ) Total Flagship Capital JV $ 43,761 $ 59,114 Other Loans Receivable 1377 6/29/2012 7/1/2016 10.00% $ 3,962 $ 3,962 $ 3,962 The Rim (4) 9/8/2014 12/8/2015 8.50% $ 26,300 $ 20,347 $ 11,324 Total Real Estate Loans Receivable $ 68,070 $ 74,400 (1) In June 2015, the borrower repaid the outstanding principal balance of the loan. (2) In March 2015, the borrower repaid the outstanding principal balance of the loan. (3) In July 2015, the borrower repaid the outstanding principal balance of the loan. (4) In August 2015, the borrower entered into an amendment to extend the maturity date of this loan to December 8, 2015.

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
DEBT FINANCING	DEBT FINANCING As of September 30, 2015 and December 31, 2014 , the Company had approximately $2.5 billion and $2.1 billion of debt outstanding, respectively, with a weighted average years to maturity of 3.1 years and 2.8 years , respectively, and a weighted average interest rate of 2.4% and 2.9% , respectively. The following table describes the Company’s debt outstanding at September 30, 2015 and December 31, 2014 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of September 30, 2015 Principal Outstanding at September 30, 2015 Principal Outstanding at December 31, 2014 Secured Mortgage Debt Brindleyplace Project 7/1/2010 10/7/2015 (1) Variable 2.02 % $ 183,579 $ 188,034 Hock Plaza (2) 9/8/2010 12/6/2015 Fixed 5.58 % 74,728 75,657 Southpark 10/19/2010 12/6/2016 Fixed 5.67 % 18,000 18,000 Fifty South Sixth 11/4/2010 11/4/2015 (3) Fixed via swap 3.62 % 95,000 95,000 Gogolevsky 11 (4) 8/25/2011 4/7/2021 Variable N/A — 35,100 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% 4.25 % 14,207 25,162 100 Brookes (5) 7/13/2012 7/31/2017 Variable 4.48 % 30,154 35,254 Poland Logistics Portfolio (6) 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 69,844 76,797 Minneapolis Retail Center 8/2/2012 8/10/2019 Fixed 3.50 % 65,500 65,500 825 Ann 11/16/2012 4/30/2016 Variable, subject to interest rate cap 3.19 % 56,529 66,091 Mercedes Benz Bank 2/7/2013 12/31/2019 Variable, subject to interest rate cap 1.55 % 37,951 41,346 465 Victoria 2/28/2013 2/28/2016 Variable, subject to interest rate cap 4.23 % 37,118 43,396 New City 3/28/2013 3/28/2018 Variable, subject to interest rate cap 2.30 % 86,886 95,934 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 72,787 74,554 The Campus at Playa Vista (7) 5/14/2013 6/1/2016 Variable 1.70 % 115,000 115,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.48 % 78,701 85,085 Fiege Mega Centre 10/18/2013 10/18/2018 Variable, subject to interest rate cap 1.69 % 25,995 28,373 55 M Street 12/9/2013 12/9/2017 Variable 1.64 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 187,655 192,209 Simon Hegele Logistics (8) 4/28/2014 6/15/2019 Fixed 1.90 % 40,245 26,106 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.89 % 62,958 74,627 The Summit 3/4/2015 3/4/2022 Variable 1.75 % 170,000 — Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 35,284 — Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable, subject to interest rate cap (9) 1.80 % (10) 292,000 122,894 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable, subject to interest rate cap (9) 1.75 % 495,000 378,000 WaterWall Place Construction Loan (11) 6/29/2012 5/8/2018 Variable, subject to interest rate cap 1.79 % (10) 44,897 44,092 Aviva Coral Gables JV Construction Loan 5/10/2013 5/10/2017 Variable, subject to interest rate cap 2.46 % (10) 42,693 38,431 Total Principal Outstanding $ 2,504,711 $ 2,112,642 Unamortized Premium/ (Discount) 38 (283 ) Notes Payable $ 2,504,749 $ 2,112,359 Notes Payable to Affiliates Aviva Coral Gables JV Construction Loan (12) 7/13/2012 7/13/2015 Variable N/A — 17,601 Total Notes Payable to Affiliates $ — $ 17,601 $ 2,504,749 $ 2,129,960 (1) In July 2015, the Company entered into an amendment to the Brindleyplace Project loan, resulting in a new maturity date of October 7, 2015 , subject to two three -month extensions and one six -month extension at the Company’s option and subject to the satisfaction of certain conditions. In October 2015, the Company opted to extend the Brindleyplace Project loan, resulting in a new maturity date of January 7, 2016 . The interest rate swaps related to this loan expired in July 2015, resulting in the loan bearing interest at a variable rate. (2) In November 2015, the Company repaid the outstanding principal balance of this mortgage loan. (3) In November 2015, the Company entered into an amendment to the Fifty South Sixth loan, resulting in a new loan amount of $125.0 million and a maturity date of November 3, 2018, subject to two twelve -month extensions at the Company’s option and subject to the satisfaction of certain conditions. (4) In May 2015, the Company repaid the outstanding principal balance of this mortgage loan. (5) In June 2015, the Company entered into an amendment to the 100 Brookes loan which lowered the margin on the variable interest rate by 35 basis points. (6) In July 2015, the Company entered into an amendment to the Poland Logistics Portfolio loan, resulting in a new maturity date of June 28, 2019 . (7) In November 2015, the Company entered into an amendment to the Playa Vista loan, resulting in a new loan amount of $150.0 million and a maturity date of December 1, 2018, subject to two twelve -month extensions at the Company’s option and subject to the satisfaction of certain conditions. (8) In January 2015, the Company borrowed €14.6 million ( $17.8 million based on the exchange rate of $1.22 as of the transaction date) on the second tranche of its loan to acquire the second phase of the Simon Hegele Logistics facility. (9) In March 2015, the Company executed two $250 million interest rate cap corridor agreements as economic hedges against the variability of future interest rates on its revolving credit facility with JPMorgan Chase that cap the interest rate on borrowings at 0.75% - 2.25% . The Company has not designated any of these derivatives as hedges for accounting purposes. (10) Represents the weighted average interest rate as of September 30, 2015 . (11) In May 2015, the Company entered into an amendment to extend the maturity date of this loan to May 8, 2018. In addition, the Company has two one -year extensions at its option, subject to the satisfaction of certain conditions. (12) In July 2015, the Company repaid the outstanding principal balance of this note payable. As of September 30, 2015 and December 31, 2014 , the fixed-rate debt included $95.0 million and $236.0 million , respectively, of variable-rate debt economically fixed through the use of interest rate swaps. The variable-rate debt has interest rates ranging from LIBOR, EURIBOR or the BBSY screen rate plus 0.70% to 2.50% per annum. Additionally, as of September 30, 2015 , $1.0 billion of the Company’s variable-rate debt was capped at strike rates ranging from 0.8% to 4.5% . See Note 7 — Derivative Instruments for more information regarding the Company’s interest rate contracts. JPMorgan Chase Revolving Credit Facility In June 2015, the Company amended its credit agreement with JPMorgan Chase Bank, N.A., which resulted in the following changes: • an increase in total commitments to $920.0 million , split $495.0 million of term loan commitment (the "Term Loan Commitment") and $425.0 million of revolving loan commitment (the "Revolving Loan Commitment"), • the future ability to increase the maximum amount available to $1.25 billion , and • extended the maturity date to June 29, 2019 , subject to a one -year extension at the Company’s option and subject to the satisfaction of certain conditions. For the period from January 2015 through September 2015 , the Company borrowed approximately $1.1 billion and made payments of approximately $824.7 million under its revolving credit facility with JPMorgan Chase Bank, National Association (the “Revolving Credit Facility”), and incurred a gain of $0.2 million through September 30, 2015 related to its borrowings on its loans denominated in a foreign currency. Additionally, from October 1, 2015 through November 16, 2015 , the Company had borrowings of $90.0 million under the Revolving Credit Facility. The borrowings resulted in an outstanding principal balance of $877.0 million on the Revolving Credit Facility as of November 16, 2015 . Financial Covenants The Company's mortgage agreements and other loan documents for the debt described in the table above contain customary events of default, with corresponding grace periods, including payment defaults, cross-defaults to other agreements and bankruptcy-related defaults, and customary covenants, including limitations on liens and indebtedness and maintenance of certain financial ratios. In addition, the Company has executed customary recourse carve-out guarantees of certain obligations under its mortgage agreements and the other loan documents. The Company is not aware of any instances of noncompliance with financial covenants on any of its loans as of September 30, 2015. Principal Payments on Debt The Company is required to make the following principal payments on its outstanding notes payable for the period from October 1, 2015 through December 31, 2015 , for each of the years ending December 31, 2016 through December 31, 2019 and for the period thereafter (in thousands): Payments due by Year October 1, 2015 through December 31, 2015 2016 2017 2018 2019 Thereafter Principal payments $ 355,542 $ 233,841 $ 152,072 $ 156,436 $ 1,143,360 $ 463,460

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedges, Assets [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company has entered into several interest rate swap contracts and interest rate cap agreements as economic hedges against the variability of future interest rates on its variable interest rate borrowings. The Company’s interest rate swaps effectively fixed the interest rates on each of the loans to which they relate and the interest rate cap contracts have effectively limited the interest rate on the loans to which they relate. The Company has not designated any of these derivatives as hedges for accounting purposes. See Note 10 — Fair Value Measurements for additional information regarding the fair value of the Company’s interest rate contracts. The Company has also entered into foreign currency forward contracts as economic hedges against the variability of foreign exchange rates on future international investments. These forward contracts economically fixed the currency exchange rates on each of the investments to which they related. The Company did not designate any of these contracts as fair value or cash flow hedges for accounting purposes. See Note 10 — Fair Value Measurements for additional information regarding the fair value of the Company’s foreign currency forwards. The table below provides additional information regarding the Company’s interest rate contracts (in thousands, except percentages). Type Effective Date Expiration Date Notional Amount (1) Interest Rate Received Pay Rate /Strike Rate Interest rate swap November 4, 2010 November 4, 2015 $ 95,000 LIBOR 1.37 % Interest rate cap August 2, 2012 June 30, 2017 $ 52,816 EURIBOR 2.00 % Interest rate cap October 9, 2012 June 30, 2017 $ 11,002 EURIBOR 2.00 % Interest rate cap January 7, 2013 June 29, 2016 $ 45,500 LIBOR 1.25 % Interest rate cap March 11, 2013 March 31, 2018 $ 37,952 EURIBOR 1.50 % Interest rate cap March 20, 2013 February 29, 2016 $ 19,255 BBSW 4.33 % Interest rate cap July 30, 2013 April 30, 2016 $ 42,399 BBSW 4.50 % Interest rate caps April 11, 2013 May 6, 2013 March 16, 2018 $ 60,820 EURIBOR 2.50 % Interest rate cap July 25, 2013 July 25, 2019 $ 78,702 EURIBOR 1.70 % (2) Interest rate cap October 18, 2013 October 18, 2018 $ 25,994 EURIBOR 2.00 % Interest rate cap September 5, 2014 December 5, 2016 $ 46,191 LIBOR 2.00 % (3) Interest rate cap November 27, 2014 October 27, 2017 $ 31,917 BBSY 4.00 % Interest rate cap March 27, 2015 December 27, 2016 $ 250,000 LIBOR 0.75 % (4) Interest rate cap March 27, 2015 December 27, 2016 $ 250,000 LIBOR 0.75 % (4) Interest rate cap March 31, 2015 March 31, 2018 $ 35,284 EURIBOR 1.50 % Interest rate cap June 30, 2017 June 28, 2019 $ 60,544 EURIBOR 2.00 % (1) For notional amounts denominated in a foreign currency, amounts have been translated to U.S. dollars at a rate based on the exchange rate in effect on September 30, 2015 . (2) Beginning in July 2016, the strike rate of this interest rate cap will increase to 2.00% for the remaining term. (3) Beginning in January 2016, the strike rate of this interest rate cap will increase to 3.25% for the remaining term. (4) Beginning in December 2015, the strike rate of this interest rate cap will increase to 2.25% for the remaining term. The Company has not entered into any master netting arrangements with its third-party counterparties and does not offset on its consolidated condensed balance sheets the fair value amounts recorded for derivative instruments. The table below presents the fair value of the Company’s derivative instruments included in “Assets—Derivative instruments” and “Liabilities—Derivative instruments” on the Company’s condensed consolidated balance sheets, as of September 30, 2015 and December 31, 2014 (in thousands): Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ — $ — $ (99 ) $ (2,684 ) Interest rate caps 688 345 — — Foreign currency forward contracts — 14,316 — (7,164 ) Total derivatives $ 688 $ 14,661 $ (99 ) $ (9,848 ) The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives not designated as hedging instruments: Interest rate swaps $ 804 $ 876 $ 2,561 $ 3,388 Interest rate caps (863 ) (457 ) (1,975 ) (3,900 ) Foreign currency forward contracts — 8,527 — 7,331 Total gain (loss) on derivatives $ (59 ) $ 8,946 $ 586 $ 6,819

Distributions

Distributions	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS The Company has declared distributions for the months of January 2014 through November 2015 at an amount equal to $0.0017808 per share, per day. Hines Moorfield UK Venture I S.A.R.L. (the “Brindleyplace JV”) declared distributions in the amount of $2.8 million and $2.0 million to Moorfield Real Estate Fund II GP Ltd. (“Moorfield”) for the nine months ended September 30, 2015 and 2014 , respectively, related to the operations of several properties acquired by the Brindleyplace JV located in Birmingham, England (the “Brindleyplace Project”). The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests (Hines Global REIT Associates Limited Partnership (“HALP”), Moorfield and Flagship Capital GP) for each of the quarters ended during 2015 and 2014 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declares distributions to the Company’s stockholders as of daily record dates and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2015 September 30, 2015 $ 21,110 $ 23,648 $ 44,758 $ 835 June 30, 2015 20,770 23,372 44,142 1,643 March 31, 2015 20,375 23,097 43,472 816 Total $ 62,255 $ 70,117 $ 132,372 $ 3,294 2014 December 31, 2014 $ 20,649 $ 23,628 $ 44,277 $ 2,458 September 30, 2014 20,453 23,612 44,065 675 June 30, 2014 20,117 23,211 43,328 855 March 31, 2014 18,336 21,079 39,415 680 Total $ 79,555 $ 91,530 $ 171,085 $ 4,668

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended September 30, Nine Months Ended September 30, Unpaid as of Type and Recipient 2015 2014 2015 2014 September 30, 2015 December 31, 2014 Selling Commissions- Dealer Manager $ — $ — $ — $ 27,021 $ — $ — Dealer Manager Fee- Dealer Manager — — — 9,334 — — Issuer Costs- the Advisor 12 (86 ) 53 1,967 — — Acquisition Fee (1) - the Advisor and affiliates of Hines — 129 8,854 13,606 474 1,492 Asset Management Fee- the Advisor and affiliates of Hines 9,025 8,897 26,688 25,949 8,638 8,402 Other (2) - the Advisor 1,430 1,538 4,152 4,110 970 1,657 Property Management Fee- Hines 1,848 1,681 5,464 4,962 28 159 Development/Construction Management Fee- Hines 33 807 120 2,626 26 35 Leasing Fee- Hines 337 128 1,461 1,567 2,243 1,363 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) 2,786 2,846 8,325 7,812 465 998 Due to Affiliates $ 12,844 $ 14,106 (1) In May 2015, the Company, the Operating Partnership and the Advisor amended the Advisory Agreement in order to reduce the acquisition fees paid to the Advisor from 2.25% to 0.50% , effective as of April 1, 2015. (2) Includes amounts the Advisor paid on behalf of the Company such as general and administrative expenses and acquisition-related expenses. These amounts are generally reimbursed to the Advisor during the month following the period in which they are incurred. Notes Payable to Affiliates The Aviva Coral Gables JV entered into a separate construction loan with an affiliate of Hines related to the development of its multi-family project in Miami, Florida. This loan was repaid in July 2015. See Note 6 — Debt Financing for additional information regarding this construction loan. 1377 In June 2012, the Company entered into a mezzanine loan commitment of $3.2 million (plus any accrued interest) to provide construction financing to the 1377 development, which was completed in March 2014. As of September 30, 2015 and December 31, 2014 , $4.0 million and $4.0 million were outstanding under the mezzanine loan, respectively. See Note 1 — Organization for additional information concerning the 1377 development and Note 5 — Real Estate Loans Receivable for additional information concerning the mezzanine loan. Other Affiliate Transactions In December 2013 and December 2014, the Advisor agreed to waive asset management fees otherwise payable to it for the years ended December 31, 2014 and 2015, respectively, to the extent that the Company’s Modified Funds from Operations (“MFFO”) for the years ended December 31, 2014 and 2015, respectively, as disclosed in its Annual Report on Form 10-K for such year, amounts to less than 100% of the aggregate distributions declared to its stockholders for such year. The Advisor did not waive any asset management fees owed to it during the year ended December 31, 2014 as a result of this waiver. The fee waivers described above are not deferrals and accordingly, any fees that may be waived will not be paid to the Advisor in cash at any time in the future.

Fair Value Measurements

Fair Value Measurements	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS As described in Note 7 — Derivative Instruments, the Company entered into several interest rate contracts as economic hedges against the variability of future interest rates on its variable interest rate borrowings. The valuation of these derivative instruments is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Although the Company has determined the majority of the inputs used to value its interest rate contracts fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties, Eurohypo, PB Capital Corporation, Landesbank Baden-Württemberg, Commonwealth Bank of Australia, Bank of Western Australia, Deutsche Pfandbriefbank AG, Crédit Agricole, SMBC Capital Markets, Inc., Australia and New Zealand Banking Group Limited, and the Bank of Montreal. In adjusting the fair values of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However, as of September 30, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuations of its derivatives. As a result, the Company has determined its derivative valuations are classified in Level 2 of the fair value hierarchy. Additionally, as described in Note 7 — Derivative Instruments, the Company has entered into several foreign currency forward contracts as economic hedges against the variability of foreign exchange rates on future international investments. The valuation of these forward contracts is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including currency exchange rate curves and implied volatilities. The Company has determined its foreign currency forward contracts valuations are classified in Level 2 of the fair value hierarchy, as they are based on observable inputs but are not traded in active markets. The following table sets forth the Company’s derivatives which are measured at fair value on a recurring basis, by level within the fair value hierarchy as of September 30, 2015 and December 31, 2014 (all amounts are in thousands): Basis of Fair Value Measurements Period Fair Value of Assets (Liabilities) Quoted Prices In Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2015 Interest rate swaps $ (99 ) $ — $ (99 ) $ — Interest rate caps $ 688 $ — $ 688 $ — Foreign currency forwards - Assets $ — $ — $ — $ — Foreign currency forwards - Liabilities $ — $ — $ — $ — December 31, 2014 Interest rate swaps $ (2,684 ) $ — $ (2,684 ) $ — Interest rate caps $ 345 $ — $ 345 $ — Foreign currency forwards - Assets $ 14,316 $ — $ 14,316 $ — Foreign currency forwards - Liabilities $ (7,164 ) $ — $ (7,164 ) $ — Other Items Financial Instruments Fair Value Disclosures As of September 30, 2015 , the Company estimated that the fair value of its notes payable, which had a book value of $2.5 billion , was $2.5 billion . As of December 31, 2014 , the Company estimated that the fair value of its notes payable, which had a book value of $2.1 billion , was $2.1 billion . Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. Although the Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of September 30, 2015 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of notes payable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. As of September 30, 2015 , the Company estimated that the book values of its real estate loans receivable approximate their fair values. Although the Company has determined the majority of the inputs used to value its real estate notes receivable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of real estate notes receivable utilize Level 3 inputs. However, as of September 30, 2015 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of real estate notes receivable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Financial Instruments Measured on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. As of September 30, 2015 and September 30, 2014 , there were no events that have occurred which indicated that fair value adjustments of the Company’s long-lived assets were necessary.

Reportable Segments

Reportable Segments	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company’s investments in real estate are geographically diversified and management evaluates the operating performance of each at an individual investment level and considers each investment to be an operating segment. The Company has aggregated all of its operating segments into four reportable segments based on the location of the segment and the underlying asset class. Management has aggregated the Company's investments that are not office properties in “other” based on the geographic location of the investment, due to the Company's ownership of interests in various different types of investments that do not stand alone as their own reportable segment. The Company’s reporting segments consist of the following, based on the Company’s investments as of September 30, 2015 : • Domestic office investments ( 12 investments) • Domestic other investments ( 10 investments) • International office investments ( 10 investments) • International other investments ( 11 investments) The tables below provide additional information related to each of the Company’s segments and a reconciliation to the Company’s net loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments (all amounts other than percentages are in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Total Revenue Domestic office investments $ 43,772 $ 36,464 $ 125,797 $ 109,407 Domestic other investments 30,412 27,488 87,463 77,473 International office investments 28,164 37,107 86,907 105,068 International other investments 17,185 16,646 52,186 48,721 Total Revenue $ 119,533 $ 117,705 $ 352,353 $ 340,669 For the three and nine months ended September 30, 2015 and 2014 the Company’s total revenue was attributable to the following countries: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Total Revenue United States 63 % 54 % 60 % 54 % United Kingdom 16 % 20 % 17 % 19 % Australia 7 % 8 % 7 % 8 % Poland 5 % 7 % 6 % 7 % Germany 4 % 3 % 4 % 3 % France 3 % 3 % 3 % 4 % Russia 2 % 5 % 3 % 5 % For the three and nine months ended September 30, 2015 and 2014 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Property revenues in excess of expenses (1) Domestic office investments $ 27,597 $ 22,467 $ 79,598 $ 68,957 Domestic other investments 19,462 16,748 56,311 49,260 International office investments 22,383 30,494 68,108 85,332 International other investments 12,398 11,900 37,319 33,980 Property revenues in excess of expenses $ 81,840 $ 81,609 $ 241,336 $ 237,529 (1) Revenues less property operating expenses, real property taxes and property management fees. As of September 30, 2015 and December 31, 2014 , the Company’s total assets by segment was as follows (in thousands): September 30, 2015 December 31, 2014 Total Assets Domestic office investments $ 1,522,726 $ 1,227,066 Domestic other investments 1,087,456 1,041,004 International office investments 1,107,790 1,237,989 International other investments 598,569 557,003 Corporate-level accounts 36,862 63,532 Total Assets $ 4,353,403 $ 4,126,594 As of September 30, 2015 and December 31, 2014 , the Company’s total assets were attributable to the following countries: September 30, 2015 December 31, 2014 Total Assets United States 61 % 56 % United Kingdom 17 % 18 % Australia 7 % 9 % Poland 6 % 7 % Germany 5 % 4 % France 3 % 4 % Russia 1 % 2 % For the nine months ended September 30, 2015 and 2014 the Company’s reconciliation to the Company’s net income (loss) is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Reconciliation to net income (loss) Total property revenues in excess of expenses $ 81,840 $ 81,609 $ 241,336 $ 237,529 Depreciation and amortization (48,027 ) (49,401 ) (139,148 ) (146,861 ) Acquisition related expenses 175 (158 ) (8,332 ) (21,480 ) Asset management and acquisition fees (9,025 ) (9,026 ) (35,542 ) (39,555 ) General and administrative expenses (2,037 ) (1,831 ) (6,429 ) (5,070 ) Gain (loss) on derivatives (59 ) 8,946 586 6,819 Gain (loss) on sale of real estate investments 55 — (1,073 ) — Foreign currency gains (losses) (1,485 ) (3,899 ) (5,538 ) (9,651 ) Interest expense (17,794 ) (20,357 ) (54,759 ) (58,280 ) Interest income 80 160 345 437 Benefit (provision) for income taxes (1,570 ) (1,865 ) (3,559 ) (4,635 ) Net income (loss) $ 2,153 $ 4,178 $ (12,113 ) $ (40,747 )

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the nine months ended September 30, 2015 and 2014 (in thousands): Nine Months Ended September 30, 2015 2014 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 48,728 $ 46,051 Cash paid for taxes $ 4,929 $ 3,868 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 18,775 $ 18,084 Distributions reinvested $ 70,355 $ 66,805 Shares tendered for redemption $ 4,009 $ 3,538 Non-cash net liabilities acquired $ 9,682 $ 2,524 Accrued capital additions $ 429 $ 3,864

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES In November 2013, Dorsey & Whitney LLP signed a lease renewal for its space in 50 South Sixth located in Minneapolis, Minnesota. In connection with this renewal, the Company committed to fund $20.8 million of tenant improvements and leasing commissions related to its space, to be paid in future periods. As of September 30, 2015 , $11.4 million of the Company’s commitment remained unfunded and is recorded in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets. The Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on the Company’s condensed consolidated financial statements. *****

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations.
Revenue Recognition	Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of September 30, 2015 and December 31, 2014 , respectively, the Company recorded liabilities of $30.8 million and $34.6 million related to prepaid rental payments, which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease, including rent holidays, if any. Straight-line rent receivable was $65.6 million and $47.4 million as of September 30, 2015 and December 31, 2014 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In April 2015, the Financial Accounting Standards Board issued amendments to change its prior guidance on the presentation of debt issuance costs in financial statements. Under the new guidance, an entity presents such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset, except for the costs related to lines of credit which will remain an asset in the financial statements. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. Upon adoption, the Company will reclassify the deferred financing costs, excluding costs related to lines of credits, net to notes payable on the balance sheet.
Methods Of Accounting, Non-hedging Derivatives	The Company has entered into several interest rate swap contracts and interest rate cap agreements as economic hedges against the variability of future interest rates on its variable interest rate borrowings. The Company’s interest rate swaps effectively fixed the interest rates on each of the loans to which they relate and the interest rate cap contracts have effectively limited the interest rate on the loans to which they relate. The Company has not designated any of these derivatives as hedges for accounting purposes. See Note 10 — Fair Value Measurements for additional information regarding the fair value of the Company’s interest rate contracts. The Company has also entered into foreign currency forward contracts as economic hedges against the variability of foreign exchange rates on future international investments. These forward contracts economically fixed the currency exchange rates on each of the investments to which they related. The Company did not designate any of these contracts as fair value or cash flow hedges for accounting purposes. See Note 10 — Fair Value Measurements for additional information regarding the fair value of the Company’s foreign currency forwards.
Fair Value Of Financial Instruments	the Company entered into several interest rate contracts as economic hedges against the variability of future interest rates on its variable interest rate borrowings. The valuation of these derivative instruments is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves and implied volatilities. The fair values of interest rate contracts have been determined using the market standard methodology of netting the discounted future fixed cash receipts (or payments) and the discounted expected variable cash payments (or receipts). The variable cash payments (or receipts) are based on an expectation of future interest rates (forward curves) derived from observable market interest rate curves. Although the Company has determined the majority of the inputs used to value its interest rate contracts fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its derivatives utilize Level 3 inputs, such as estimates of current credit spreads to evaluate the likelihood of default by the Company and its counterparties, Eurohypo, PB Capital Corporation, Landesbank Baden-Württemberg, Commonwealth Bank of Australia, Bank of Western Australia, Deutsche Pfandbriefbank AG, Crédit Agricole, SMBC Capital Markets, Inc., Australia and New Zealand Banking Group Limited, and the Bank of Montreal. In adjusting the fair values of its derivative contracts for the effect of nonperformance risk, the Company has considered the impact of netting and any applicable credit enhancements, such as collateral postings, thresholds and guarantees. However, as of September 30, 2015 , the Company has assessed the significance of the impact of the credit valuation adjustments on the overall valuation of its derivative positions and has determined that the credit valuation adjustments are not significant to the overall valuations of its derivatives. As a result, the Company has determined its derivative valuations are classified in Level 2 of the fair value hierarchy. Additionally, as described in Note 7 — Derivative Instruments, the Company has entered into several foreign currency forward contracts as economic hedges against the variability of foreign exchange rates on future international investments. The valuation of these forward contracts is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including currency exchange rate curves and implied volatilities. The Company has determined its foreign currency forward contracts valuations are classified in Level 2 of the fair value hierarchy, as they are based on observable inputs but are not traded in active markets.

Organization (Tables)

Organization (Tables)	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The table below presents the activity of the Company's unconsolidated entities as of and for the periods presented (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Investment in Unconsolidated Entities 2015 2014 2015 2014 Beginning balance $ 2,113 $ 3,573 $ 2,873 $ 3,573 Equity in earnings 176 — 291 — Distributions (150 ) — (1,025 ) — Ending balance $ 2,139 $ 3,573 $ 2,139 $ 3,573 The table below summarizes the Company’s maximum loss exposure related to its unconsolidated VIEs as of September 30, 2015 and December 31, 2014 , (in thousands) which is equal to the carrying value of its investment in the unconsolidated VIEs included in the balance sheet line item “Investment in unconsolidated entities” and the Company’s outstanding loan receivable balances of $24.3 million and $15.3 million as of September 30, 2015 and December 31, 2014 , respectively, held by the VIEs which is included in the balance sheet line item “Real estate loans receivable” in the condensed consolidated balance sheets. Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (2) September 30, 2015 $ 2,139 $ 26,448 December 31, 2014 $ 2,873 $ 18,159 (1) Represents the Company’s contributions, net of distributions, made to its VIEs, as well as the equity in earnings on the investments. (2) Maximum Risk of Loss is equal to the amount outstanding under the loan plus the Company’s contributions, net of distributions, made to the VIEs as of the date indicated, as well as the equity in earnings on the investments. See Note 5 — Real Estate Loans Receivable for additional information regarding the loan. A summary of the assets and liabilities of these consolidated VIEs, as well as the maximum loss exposure of the Company from these consolidated VIEs, is as follows (in thousands): September 30, 2015 December 31, 2014 Maximum risk of loss (1) $ 53,978 $ 47,986 Assets held by VIEs $ 171,135 $ 188,264 Assets held as collateral for debt $ 171,135 $ 188,264 Liabilities held by VIEs $ 105,541 $ 131,691 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Schedule Of Other Assets	Other assets included the following (in thousands): September 30, 2015 December 31, 2014 Deposits on investment property (1) $ — $ 15,000 Prepaid expenses 4,253 2,021 Deferred tax assets 9,262 8,127 Other 468 791 Other assets $ 13,983 $ 25,939 (1) As of December 31, 2014, this amount consisted of a deposit that had been paid related to the acquisition of The Summit, which was completed in March 2015.

Investment Property (Tables)

Investment Property (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule Of Property Subject To Or Available For Operating Lease	Investment property consisted of the following amounts as of September 30, 2015 and December 31, 2014 (in thousands): September 30, 2015 December 31, 2014 Buildings and improvements (1) $ 2,739,986 $ 2,501,176 Less: accumulated depreciation (185,503 ) (138,821 ) Buildings and improvements, net 2,554,483 2,362,355 Land 682,565 602,344 Investment property, net $ 3,237,048 $ 2,964,699 (1) Included in buildings and improvements was approximately $24.3 million of construction-in-progress related to the Company’s multi-family development in Miami, Florida as of December 31, 2014 . The development was completed in April 2015.
Schedule Of Acquired Finite-Lived Intangible Assets By Major Class	As of September 30, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 916,027 $ 109,836 $ (123,770 ) Less: accumulated amortization (280,684 ) (44,933 ) 25,184 Net $ 635,343 $ 64,903 $ (98,586 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 890,495 $ 110,649 $ (104,528 ) Less: accumulated amortization (221,316 ) (36,363 ) 20,143 Net $ 669,179 $ 74,286 $ (84,385 ) The weighted average amortization period for the intangible assets and liabilities acquired in connection with the 2015 and 2014 acquisitions, as of the date of the respective acquisition, was as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Simon Hegele Logistics (2nd Phase) 11.3 — — The Summit 5.1 3.0 5.6 Harder Logistics Portfolio 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 2014 Acquisitions: The Rim (1st Phase) 16.5 12.9 35.3 25 Cabot Square (1) 11.7 0.5 3.0 Simon Hegele Logistics (1st Phase) 13.4 13.4 — 818 Bourke 4.1 3.3 3.1 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for this intangible.
Schedule Of Finite Lived Intangible Assets Future Amortization Expense	Anticipated amortization of in-place leases and out-of-market leases, net, for the period from October 1, 2015 through December 31, 2015 and for each of the years ending December 31, 2016 through December 31, 2019 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net October 1, 2015 through December 31, 2015 $ 27,717 $ 515 2016 104,029 2,263 2017 82,359 930 2018 61,200 (2,204 ) 2019 48,489 (3,671 )
Schedule Of Future Minimum Rental Income For Operating Leases	As of September 30, 2015 , the approximate fixed future minimum rentals for the period from October 1, 2015 through December 31, 2015 , for each of the years ending December 31, 2016 through December 31, 2019 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals October 1, 2015 through December 31, 2015 $ 82,317 2016 328,558 2017 316,463 2018 237,661 2019 208,506 Thereafter 1,276,113 Total $ 2,449,618

Recent Acquisitions of Real E24

Recent Acquisitions of Real Estate (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule Of Recognized Identified Assets Acquired And Liabilities Assumed	The amounts recognized for major assets acquired as of the acquisition date were determined by allocating the purchase price of each property acquired in 2015 and 2014 as follows (in thousands): Property Name Acquisition Date Building and Improvements (1) Land (1) In-place Lease Intangibles (1) Out-of- Market Lease Intangibles, Net (1) Total (1) Simon Hegele Logistics (2) 1/7/2015 & 06/03/14 $ 56,428 $ 13,245 $ 9,154 $ 41 $ 78,868 The Summit 03/04/15 $ 217,974 $ 68,090 $ 45,360 $ (14,920 ) $ 316,504 Harder Logistics Portfolio 04/01/15 $ 38,924 $ 7,986 $ 9,092 $ 1,150 $ 57,152 The Rim (3) 04/30/15 & 02/13/14 $ 127,975 $ 82,430 $ 53,860 $ (28,300 ) $ 235,965 25 Cabot Square 03/28/14 $ 165,121 $ — $ 206,640 $ (16 ) $ 371,745 818 Bourke 10/31/14 $ 82,867 $ 36,487 $ 17,082 $ (792 ) $ 135,644 (1) For acquisitions denominated in a foreign currency, amounts have been translated to U.S. dollars at a rate based on the exchange rate in effect on the acquisition date. (2) In June 2014, the Company acquired the Simon Hegele Logistics facility in Forchheim, Germany. In January 2015, the Company acquired the second phase of the facility. (3) In February 2014, the Company acquired The Rim retail center in San Antonio, Texas. In April 2015, the Company acquired an additional phase of the center.
Schedule Of Acquired Finite-Lived Intangible Assets By Major Class	As of September 30, 2015 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 916,027 $ 109,836 $ (123,770 ) Less: accumulated amortization (280,684 ) (44,933 ) 25,184 Net $ 635,343 $ 64,903 $ (98,586 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 890,495 $ 110,649 $ (104,528 ) Less: accumulated amortization (221,316 ) (36,363 ) 20,143 Net $ 669,179 $ 74,286 $ (84,385 ) The weighted average amortization period for the intangible assets and liabilities acquired in connection with the 2015 and 2014 acquisitions, as of the date of the respective acquisition, was as follows (in years): In-Place Leases Above-Market Lease Assets Below-Market Lease Liabilities 2015 Acquisitions: Simon Hegele Logistics (2nd Phase) 11.3 — — The Summit 5.1 3.0 5.6 Harder Logistics Portfolio 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 2014 Acquisitions: The Rim (1st Phase) 16.5 12.9 35.3 25 Cabot Square (1) 11.7 0.5 3.0 Simon Hegele Logistics (1st Phase) 13.4 13.4 — 818 Bourke 4.1 3.3 3.1 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for this intangible.
Schedule Of Real Estate Properties Recent Acquisitions Profit Loss	The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2015 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 (in thousands): For the Three Months Ended For the Nine Months Ended 2015 Acquisitions September 30, 2015 September 30, 2015 Simon Hegele Logistics (1) Revenue $ 1,350 $ 4,014 Net income (loss) $ 118 $ (13 ) The Summit Revenue $ 6,664 $ 15,357 Net income (loss) $ 315 $ 330 Harder Logistics Portfolio Revenue $ 1,170 $ 2,301 Net income (loss) $ 282 $ (6,457 ) The Rim (2) Revenue $ 6,114 $ 17,102 Net income (loss) $ (139 ) $ 1,519 (1) Includes the total revenue and net income of the Simon Hegele Logistics facility, including the first phase of the facility acquired in June 2014, which is 100% leased to a single tenant. The second phase of the facility was acquired in January 2015 and includes 236,661 square feet of net rentable area, which represents 38.9% of the net rentable area of the total Simon Hegele Logistics facility. (2) Includes the total revenue and net income of The Rim retail center, including the first phase of the center acquired in February 2014. The second phase of the center was acquired in April 2015 and includes 259,316 square feet of net rentable area, which represents 28.3% of the net rentable area of the total Rim facility. The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the nine months ended September 30, 2014 , which are included in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2014 (in thousands): For the Three Months Ended For the Nine Months Ended 2014 Acquisitions September 30, 2014 September 30, 2014 The Rim Revenue $ 6,033 $ 12,513 Net income (loss) $ 937 $ 268 25 Cabot Square Revenue $ 8,839 $ 18,532 Net income (loss) $ 608 $ (17,433 ) Simon Hegele Logistics Revenue $ 930 $ 1,231 Net income (loss) $ (15 ) $ (3,556 )
Business Acquisition Pro Forma Information	The following unaudited consolidated information is presented to give effect to the 2014 acquisitions through September 30, 2014 as if the acquisitions occurred on January 1, 2013 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $0.3 million and $11.7 million for the three months ended September 30, 2014 and 2013 , and $35.1 million and $73.2 million for the nine months ended September 30, 2014 and 2013 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2013, nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2014 Pro Forma 2013 Pro Forma 2014 Pro Forma 2013 Revenues $ 117,705 $ 105,147 $ 353,101 $ 270,645 Net income (loss) $ 4,469 $ (3,984 ) $ (6,571 ) $ (14,153 ) Basic and diluted income (loss) per common share $ 0.02 $ (0.02 ) $ (0.03 ) $ (0.08 ) The following unaudited consolidated information is presented to give effect to current year acquisitions through September 30, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of the Company’s future activity, primarily acquisition fees and expenses of $(0.2) million and $0.3 million for the three months ended September 30, 2015 and 2014 , and $17.2 million and $35.1 million for the nine months ended September 30, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had the Company completed these transactions on January 1, 2014 , nor does it purport to represent the Company’s future operations (amounts in thousands, except per share amounts): For the Three Months Ended For the Nine Months Ended September 30, September 30, Pro Forma 2015 Pro Forma 2014 Pro Forma 2015 Pro Forma 2014 Revenues $ 119,533 $ 125,557 $ 357,998 $ 363,971 Net income (loss) $ 1,790 $ 4,317 $ 5,469 $ (6,854 ) Basic and diluted income (loss) per common share $ — $ 0.01 $ — $ (0.04 )

Real Estate Loans Receivable (T

Real Estate Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2015
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	Real estate loans receivable included the following at September 30, 2015 and December 31, 2014 (in thousands): Property Original Funding Date Maturity Date Interest Rate Total Loan Commitment Balance as of Balance as of Flagship Capital JV Houston Retail Portfolio (1) 8/2/2012 8/2/2015 7.60% 11,804 — 11,457 Motor Circle (2) 12/28/2012 12/28/2015 8.00% 3,175 — 2,423 Falls of Kirkwood 10/18/2013 8/15/2016 8.00% 6,300 6,233 6,222 Falls of Town Park Apartments 12/30/2013 12/30/2015 7.75% 5,327 5,272 5,227 Precinct Villages 3/18/2014 3/17/2016 8.50% 2,595 1,799 1,811 Manor Palms (3) 6/26/2014 12/25/2015 7.00% 4,109 — 3,979 Randall’s 7/28/2014 7/28/2017 6.25% 10,939 8,295 8,110 Finesilver 7/31/2014 7/31/2016 6.45% 7,233 5,198 5,165 Dymaxion Apartments 12/15/2014 12/15/2016 7.60% 8,500 8,204 7,684 Marbach Park Apartments 12/15/2014 12/15/2016 7.60% 9,500 8,944 7,676 7.29% $ 69,482 $ 43,945 $ 59,754 Less: Origination fees (184 ) (640 ) Total Flagship Capital JV $ 43,761 $ 59,114 Other Loans Receivable 1377 6/29/2012 7/1/2016 10.00% $ 3,962 $ 3,962 $ 3,962 The Rim (4) 9/8/2014 12/8/2015 8.50% $ 26,300 $ 20,347 $ 11,324 Total Real Estate Loans Receivable $ 68,070 $ 74,400 (1) In June 2015, the borrower repaid the outstanding principal balance of the loan. (2) In March 2015, the borrower repaid the outstanding principal balance of the loan. (3) In July 2015, the borrower repaid the outstanding principal balance of the loan. (4) In August 2015, the borrower entered into an amendment to extend the maturity date of this loan to December 8, 2015.

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule Of Debt	The following table describes the Company’s debt outstanding at September 30, 2015 and December 31, 2014 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of September 30, 2015 Principal Outstanding at September 30, 2015 Principal Outstanding at December 31, 2014 Secured Mortgage Debt Brindleyplace Project 7/1/2010 10/7/2015 (1) Variable 2.02 % $ 183,579 $ 188,034 Hock Plaza (2) 9/8/2010 12/6/2015 Fixed 5.58 % 74,728 75,657 Southpark 10/19/2010 12/6/2016 Fixed 5.67 % 18,000 18,000 Fifty South Sixth 11/4/2010 11/4/2015 (3) Fixed via swap 3.62 % 95,000 95,000 Gogolevsky 11 (4) 8/25/2011 4/7/2021 Variable N/A — 35,100 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% 4.25 % 14,207 25,162 100 Brookes (5) 7/13/2012 7/31/2017 Variable 4.48 % 30,154 35,254 Poland Logistics Portfolio (6) 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 69,844 76,797 Minneapolis Retail Center 8/2/2012 8/10/2019 Fixed 3.50 % 65,500 65,500 825 Ann 11/16/2012 4/30/2016 Variable, subject to interest rate cap 3.19 % 56,529 66,091 Mercedes Benz Bank 2/7/2013 12/31/2019 Variable, subject to interest rate cap 1.55 % 37,951 41,346 465 Victoria 2/28/2013 2/28/2016 Variable, subject to interest rate cap 4.23 % 37,118 43,396 New City 3/28/2013 3/28/2018 Variable, subject to interest rate cap 2.30 % 86,886 95,934 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 72,787 74,554 The Campus at Playa Vista (7) 5/14/2013 6/1/2016 Variable 1.70 % 115,000 115,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.48 % 78,701 85,085 Fiege Mega Centre 10/18/2013 10/18/2018 Variable, subject to interest rate cap 1.69 % 25,995 28,373 55 M Street 12/9/2013 12/9/2017 Variable 1.64 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 187,655 192,209 Simon Hegele Logistics (8) 4/28/2014 6/15/2019 Fixed 1.90 % 40,245 26,106 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.89 % 62,958 74,627 The Summit 3/4/2015 3/4/2022 Variable 1.75 % 170,000 — Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 35,284 — Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable, subject to interest rate cap (9) 1.80 % (10) 292,000 122,894 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable, subject to interest rate cap (9) 1.75 % 495,000 378,000 WaterWall Place Construction Loan (11) 6/29/2012 5/8/2018 Variable, subject to interest rate cap 1.79 % (10) 44,897 44,092 Aviva Coral Gables JV Construction Loan 5/10/2013 5/10/2017 Variable, subject to interest rate cap 2.46 % (10) 42,693 38,431 Total Principal Outstanding $ 2,504,711 $ 2,112,642 Unamortized Premium/ (Discount) 38 (283 ) Notes Payable $ 2,504,749 $ 2,112,359 Notes Payable to Affiliates Aviva Coral Gables JV Construction Loan (12) 7/13/2012 7/13/2015 Variable N/A — 17,601 Total Notes Payable to Affiliates $ — $ 17,601 $ 2,504,749 $ 2,129,960 (1) In July 2015, the Company entered into an amendment to the Brindleyplace Project loan, resulting in a new maturity date of October 7, 2015 , subject to two three -month extensions and one six -month extension at the Company’s option and subject to the satisfaction of certain conditions. In October 2015, the Company opted to extend the Brindleyplace Project loan, resulting in a new maturity date of January 7, 2016 . The interest rate swaps related to this loan expired in July 2015, resulting in the loan bearing interest at a variable rate. (2) In November 2015, the Company repaid the outstanding principal balance of this mortgage loan. (3) In November 2015, the Company entered into an amendment to the Fifty South Sixth loan, resulting in a new loan amount of $125.0 million and a maturity date of November 3, 2018, subject to two twelve -month extensions at the Company’s option and subject to the satisfaction of certain conditions. (4) In May 2015, the Company repaid the outstanding principal balance of this mortgage loan. (5) In June 2015, the Company entered into an amendment to the 100 Brookes loan which lowered the margin on the variable interest rate by 35 basis points. (6) In July 2015, the Company entered into an amendment to the Poland Logistics Portfolio loan, resulting in a new maturity date of June 28, 2019 . (7) In November 2015, the Company entered into an amendment to the Playa Vista loan, resulting in a new loan amount of $150.0 million and a maturity date of December 1, 2018, subject to two twelve -month extensions at the Company’s option and subject to the satisfaction of certain conditions. (8) In January 2015, the Company borrowed €14.6 million ( $17.8 million based on the exchange rate of $1.22 as of the transaction date) on the second tranche of its loan to acquire the second phase of the Simon Hegele Logistics facility. (9) In March 2015, the Company executed two $250 million interest rate cap corridor agreements as economic hedges against the variability of future interest rates on its revolving credit facility with JPMorgan Chase that cap the interest rate on borrowings at 0.75% - 2.25% . The Company has not designated any of these derivatives as hedges for accounting purposes. (10) Represents the weighted average interest rate as of September 30, 2015 . (11) In May 2015, the Company entered into an amendment to extend the maturity date of this loan to May 8, 2018. In addition, the Company has two one -year extensions at its option, subject to the satisfaction of certain conditions. (12) In July 2015, the Company repaid the outstanding principal balance of this note payable.
Schedule Of Maturities Of Long Term Debt	The Company is required to make the following principal payments on its outstanding notes payable for the period from October 1, 2015 through December 31, 2015 , for each of the years ending December 31, 2016 through December 31, 2019 and for the period thereafter (in thousands): Payments due by Year October 1, 2015 through December 31, 2015 2016 2017 2018 2019 Thereafter Principal payments $ 355,542 $ 233,841 $ 152,072 $ 156,436 $ 1,143,360 $ 463,460

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 30, 2015
Derivative Instruments and Hedges, Assets [Abstract]
Schedule Of Derivative Instruments	The table below provides additional information regarding the Company’s interest rate contracts (in thousands, except percentages). Type Effective Date Expiration Date Notional Amount (1) Interest Rate Received Pay Rate /Strike Rate Interest rate swap November 4, 2010 November 4, 2015 $ 95,000 LIBOR 1.37 % Interest rate cap August 2, 2012 June 30, 2017 $ 52,816 EURIBOR 2.00 % Interest rate cap October 9, 2012 June 30, 2017 $ 11,002 EURIBOR 2.00 % Interest rate cap January 7, 2013 June 29, 2016 $ 45,500 LIBOR 1.25 % Interest rate cap March 11, 2013 March 31, 2018 $ 37,952 EURIBOR 1.50 % Interest rate cap March 20, 2013 February 29, 2016 $ 19,255 BBSW 4.33 % Interest rate cap July 30, 2013 April 30, 2016 $ 42,399 BBSW 4.50 % Interest rate caps April 11, 2013 May 6, 2013 March 16, 2018 $ 60,820 EURIBOR 2.50 % Interest rate cap July 25, 2013 July 25, 2019 $ 78,702 EURIBOR 1.70 % (2) Interest rate cap October 18, 2013 October 18, 2018 $ 25,994 EURIBOR 2.00 % Interest rate cap September 5, 2014 December 5, 2016 $ 46,191 LIBOR 2.00 % (3) Interest rate cap November 27, 2014 October 27, 2017 $ 31,917 BBSY 4.00 % Interest rate cap March 27, 2015 December 27, 2016 $ 250,000 LIBOR 0.75 % (4) Interest rate cap March 27, 2015 December 27, 2016 $ 250,000 LIBOR 0.75 % (4) Interest rate cap March 31, 2015 March 31, 2018 $ 35,284 EURIBOR 1.50 % Interest rate cap June 30, 2017 June 28, 2019 $ 60,544 EURIBOR 2.00 % (1) For notional amounts denominated in a foreign currency, amounts have been translated to U.S. dollars at a rate based on the exchange rate in effect on September 30, 2015 . (2) Beginning in July 2016, the strike rate of this interest rate cap will increase to 2.00% for the remaining term. (3) Beginning in January 2016, the strike rate of this interest rate cap will increase to 3.25% for the remaining term. (4) Beginning in December 2015, the strike rate of this interest rate cap will increase to 2.25% for the remaining term.
Schedule Of Other Derivatives Not Designated As Hedging Instruments Statements Of Financial Performance And Financial Position Location	The table below presents the fair value of the Company’s derivative instruments included in “Assets—Derivative instruments” and “Liabilities—Derivative instruments” on the Company’s condensed consolidated balance sheets, as of September 30, 2015 and December 31, 2014 (in thousands): Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ — $ — $ (99 ) $ (2,684 ) Interest rate caps 688 345 — — Foreign currency forward contracts — 14,316 — (7,164 ) Total derivatives $ 688 $ 14,661 $ (99 ) $ (9,848 ) The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2015 and 2014 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives not designated as hedging instruments: Interest rate swaps $ 804 $ 876 $ 2,561 $ 3,388 Interest rate caps (863 ) (457 ) (1,975 ) (3,900 ) Foreign currency forward contracts — 8,527 — 7,331 Total gain (loss) on derivatives $ (59 ) $ 8,946 $ 586 $ 6,819

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 30, 2015
Equity [Abstract]
Schedule Of Distributions Declared	The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests (Hines Global REIT Associates Limited Partnership (“HALP”), Moorfield and Flagship Capital GP) for each of the quarters ended during 2015 and 2014 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declares distributions to the Company’s stockholders as of daily record dates and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2015 September 30, 2015 $ 21,110 $ 23,648 $ 44,758 $ 835 June 30, 2015 20,770 23,372 44,142 1,643 March 31, 2015 20,375 23,097 43,472 816 Total $ 62,255 $ 70,117 $ 132,372 $ 3,294 2014 December 31, 2014 $ 20,649 $ 23,628 $ 44,277 $ 2,458 September 30, 2014 20,453 23,612 44,065 675 June 30, 2014 20,117 23,211 43,328 855 March 31, 2014 18,336 21,079 39,415 680 Total $ 79,555 $ 91,530 $ 171,085 $ 4,668

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions	The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended September 30, Nine Months Ended September 30, Unpaid as of Type and Recipient 2015 2014 2015 2014 September 30, 2015 December 31, 2014 Selling Commissions- Dealer Manager $ — $ — $ — $ 27,021 $ — $ — Dealer Manager Fee- Dealer Manager — — — 9,334 — — Issuer Costs- the Advisor 12 (86 ) 53 1,967 — — Acquisition Fee (1) - the Advisor and affiliates of Hines — 129 8,854 13,606 474 1,492 Asset Management Fee- the Advisor and affiliates of Hines 9,025 8,897 26,688 25,949 8,638 8,402 Other (2) - the Advisor 1,430 1,538 4,152 4,110 970 1,657 Property Management Fee- Hines 1,848 1,681 5,464 4,962 28 159 Development/Construction Management Fee- Hines 33 807 120 2,626 26 35 Leasing Fee- Hines 337 128 1,461 1,567 2,243 1,363 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) 2,786 2,846 8,325 7,812 465 998 Due to Affiliates $ 12,844 $ 14,106 (1) In May 2015, the Company, the Operating Partnership and the Advisor amended the Advisory Agreement in order to reduce the acquisition fees paid to the Advisor from 2.25% to 0.50% , effective as of April 1, 2015. (2) Includes amounts the Advisor paid on behalf of the Company such as general and administrative expenses and acquisition-related expenses. These amounts are generally reimbursed to the Advisor during the month following the period in which they are incurred.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Schedule Of Fair Value Assets And Liabilities Measured On Recurring Basis	The following table sets forth the Company’s derivatives which are measured at fair value on a recurring basis, by level within the fair value hierarchy as of September 30, 2015 and December 31, 2014 (all amounts are in thousands): Basis of Fair Value Measurements Period Fair Value of Assets (Liabilities) Quoted Prices In Active Markets for Identical Items (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) September 30, 2015 Interest rate swaps $ (99 ) $ — $ (99 ) $ — Interest rate caps $ 688 $ — $ 688 $ — Foreign currency forwards - Assets $ — $ — $ — $ — Foreign currency forwards - Liabilities $ — $ — $ — $ — December 31, 2014 Interest rate swaps $ (2,684 ) $ — $ (2,684 ) $ — Interest rate caps $ 345 $ — $ 345 $ — Foreign currency forwards - Assets $ 14,316 $ — $ 14,316 $ — Foreign currency forwards - Liabilities $ (7,164 ) $ — $ (7,164 ) $ —

Reportable Segments (Tables)

Reportable Segments (Tables)	9 Months Ended
	Sep. 30, 2015
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	The tables below provide additional information related to each of the Company’s segments and a reconciliation to the Company’s net loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments (all amounts other than percentages are in thousands). Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Total Revenue Domestic office investments $ 43,772 $ 36,464 $ 125,797 $ 109,407 Domestic other investments 30,412 27,488 87,463 77,473 International office investments 28,164 37,107 86,907 105,068 International other investments 17,185 16,646 52,186 48,721 Total Revenue $ 119,533 $ 117,705 $ 352,353 $ 340,669 For the three and nine months ended September 30, 2015 and 2014 the Company’s total revenue was attributable to the following countries: Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Total Revenue United States 63 % 54 % 60 % 54 % United Kingdom 16 % 20 % 17 % 19 % Australia 7 % 8 % 7 % 8 % Poland 5 % 7 % 6 % 7 % Germany 4 % 3 % 4 % 3 % France 3 % 3 % 3 % 4 % Russia 2 % 5 % 3 % 5 % For the three and nine months ended September 30, 2015 and 2014 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Property revenues in excess of expenses (1) Domestic office investments $ 27,597 $ 22,467 $ 79,598 $ 68,957 Domestic other investments 19,462 16,748 56,311 49,260 International office investments 22,383 30,494 68,108 85,332 International other investments 12,398 11,900 37,319 33,980 Property revenues in excess of expenses $ 81,840 $ 81,609 $ 241,336 $ 237,529 (1) Revenues less property operating expenses, real property taxes and property management fees. As of September 30, 2015 and December 31, 2014 , the Company’s total assets by segment was as follows (in thousands): September 30, 2015 December 31, 2014 Total Assets Domestic office investments $ 1,522,726 $ 1,227,066 Domestic other investments 1,087,456 1,041,004 International office investments 1,107,790 1,237,989 International other investments 598,569 557,003 Corporate-level accounts 36,862 63,532 Total Assets $ 4,353,403 $ 4,126,594 As of September 30, 2015 and December 31, 2014 , the Company’s total assets were attributable to the following countries: September 30, 2015 December 31, 2014 Total Assets United States 61 % 56 % United Kingdom 17 % 18 % Australia 7 % 9 % Poland 6 % 7 % Germany 5 % 4 % France 3 % 4 % Russia 1 % 2 %
Reconciliation Of Net Income (Loss) From Segments To Consolidated	For the nine months ended September 30, 2015 and 2014 the Company’s reconciliation to the Company’s net income (loss) is as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Reconciliation to net income (loss) Total property revenues in excess of expenses $ 81,840 $ 81,609 $ 241,336 $ 237,529 Depreciation and amortization (48,027 ) (49,401 ) (139,148 ) (146,861 ) Acquisition related expenses 175 (158 ) (8,332 ) (21,480 ) Asset management and acquisition fees (9,025 ) (9,026 ) (35,542 ) (39,555 ) General and administrative expenses (2,037 ) (1,831 ) (6,429 ) (5,070 ) Gain (loss) on derivatives (59 ) 8,946 586 6,819 Gain (loss) on sale of real estate investments 55 — (1,073 ) — Foreign currency gains (losses) (1,485 ) (3,899 ) (5,538 ) (9,651 ) Interest expense (17,794 ) (20,357 ) (54,759 ) (58,280 ) Interest income 80 160 345 437 Benefit (provision) for income taxes (1,570 ) (1,865 ) (3,559 ) (4,635 ) Net income (loss) $ 2,153 $ 4,178 $ (12,113 ) $ (40,747 )

Supplemental Cash Flow Disclo32

Supplemental Cash Flow Disclosures (Tables)	9 Months Ended
	Sep. 30, 2015
Supplemental Cash Flow Information [Abstract]
Schedule Of Cash Flow Supplemental Disclosures	Supplemental cash flow disclosures for the nine months ended September 30, 2015 and 2014 (in thousands): Nine Months Ended September 30, 2015 2014 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 48,728 $ 46,051 Cash paid for taxes $ 4,929 $ 3,868 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 18,775 $ 18,084 Distributions reinvested $ 70,355 $ 66,805 Shares tendered for redemption $ 4,009 $ 3,538 Non-cash net liabilities acquired $ 9,682 $ 2,524 Accrued capital additions $ 429 $ 3,864

Organization (Public Offering)

Organization (Public Offering) (Details) - USD ($) shares in Millions	Apr. 24, 2014	Apr. 11, 2014	Feb. 04, 2013	Feb. 01, 2013	Aug. 05, 2009	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2015
Public Offering [Line Items]
Proceeds from sale of common stock						$ 0	$ 378,804,000
First Offering [Member]
Public Offering [Line Items]
Commencement date, public offering					Aug. 5, 2009
Termination date, public offering				Feb. 1, 2013
Second Offering [Member]
Public Offering [Line Items]
Commencement date, public offering			Feb. 4, 2013
Termination date, public offering		Apr. 11, 2014
Maximum proceeds authorized for public offering			$ 3,500,000,000
Dividend Reinvestment Plan [Member]
Public Offering [Line Items]
Commencement date, public offering	Apr. 24, 2014
Maximum proceeds authorized for public offering								$ 500,000,000
Public Offerings [Member]
Public Offering [Line Items]
Proceeds from sale of common stock									$ 2,900,000,000
Common stock sold, shares									285.8

Organization (Real Estate Inves

Organization (Real Estate Investments) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2015USD ($)ft²real_estate_loanreal_estate_investmentParcel	Dec. 31, 2014USD ($)
Real Estate Investments And Segment [Line Items]
Number of real estate investments | real_estate_investment	43
Real estate loans receivable, net	$ 68,070	$ 74,400
Flagship Capital Joint Venture [Member]
Real Estate Investments And Segment [Line Items]
Ownership interest, parent	97.00%
Number of loans receivable, joint venture | real_estate_loan	7
Loans and leases receivable	$ 43,900
The Rim [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate properties | Parcel	4
Total loan commitment	$ 26,300
The Rim Phase V Acquired 4/30/15 [Member]
Real Estate Investments And Segment [Line Items]
Area of real estate property (in square feet) | ft²	259,316
Domestic Office Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments | real_estate_investment	12
Domestic Other Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments | real_estate_investment	10
International Office Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments | real_estate_investment	10
International Other Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments | real_estate_investment	11
The Rim [Member]
Real Estate Investments And Segment [Line Items]
Total loan commitment	$ 26,300
Real estate loans receivable, net	$ 20,347	$ 11,324

Organization (VIE disclosures)

Organization (VIE disclosures) (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)Parcel	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)Parcel	Sep. 30, 2014USD ($)	Apr. 30, 2015USD ($)ft²	Dec. 31, 2014USD ($)
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Real estate loans receivable	$ 68,070		$ 68,070			$ 74,400
Activity of Unconsolidated Entities [Roll Forward]
Beginning balance	2,113	$ 3,573	2,873	$ 3,573
Equity in earnings	176	0	291	0
Distributions	(150)	0	(1,025)	0
Ending balance	2,139	$ 3,573	2,139	3,573
Variable Interest Entity, Primary Beneficiary [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Maximum risk of loss	53,978		53,978			47,986
Assets held by VIEs	171,135		171,135			188,264
Assets held as collateral for debt	171,135		171,135			188,264
Liabilities held by VIEs	105,541		105,541			131,691
Variable Interest Entity, Primary Beneficiary [Member] | Hines Global REIT, Inc [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Contribution, Net of Distributions, to Joint Venture			6,000
Proceeds from Dividends Received			11,500
Proceeds received from distributions, net of contributions from joint venture				200
Proceeds from Partnership Contribution				$ 4,500
Variable Interest Entity, Not Primary Beneficiary [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Maximum risk of loss	26,448		26,448			18,159
Real estate loans receivable	24,300		24,300			15,300
Investment in Unconsolidated VIEs	$ 2,139		$ 2,139			$ 2,873
Variable Interest Entity, Not Primary Beneficiary [Member] | @1377 [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Joint venture, ownership percentage	51.70%		51.70%
Variable Interest Entity, Not Primary Beneficiary [Member] | The Rim [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Total loan commitment					$ 26,300
Number of real estate properties | Parcel	4		4
Area of real estate property (in square feet) | ft²					259,316
Real estate loans receivable	$ 20,300		$ 20,300

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Accounting Policies [Abstract]
Allowance for doubtful accounts	$ 1,500		$ 1,500		$ 1,900
Amortization of deferred financing costs	1,700	$ 1,700	4,700	$ 4,800
Liability related to prepaid rental payments	30,800		30,800		34,600
Straight line rent receivable	65,600		65,600		47,400
Other Assets [Abstract]
Deposits on investment property	0		0		15,000
Prepaid expenses	4,253		4,253		2,021
Deferred tax assets	9,262		9,262		8,127
Other	468		468		791
Other assets	$ 13,983		$ 13,983		$ 25,939

Summary of Significant Accoun37

Summary of Significant Accounting Policies (Immaterial Error Correction) (Details) - Rental Revenue [Member] - Restatement Adjustment [Member] - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2014	Sep. 30, 2014
International Office Investments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prior period reclassification adjustment	$ 7.6	$ 24.2
International Other Investments [Member]
Error Corrections and Prior Period Adjustments Restatement [Line Items]
Prior period reclassification adjustment	$ (7.6)	$ (24.2)

Investment Property (Details)

Investment Property (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, net	$ 3,237,048	$ 2,964,699
Building and improvements [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	2,739,986	2,501,176
Less: accumulated depreciation	(185,503)	(138,821)
Investment property, net	2,554,483	2,362,355
Land [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	$ 682,565	602,344
Construction-in-progress [Member] | Multifamily [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross		$ 24,300

Investment Property (Intangible

Investment Property (Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Finite Lived Intangible Assets [Line Items]
Net	$ 700,246	$ 743,465
Out-of-Market Lease Liabilities [Abstract]
Out-of-Market Lease Liabilities, Cost	(123,770)	(104,528)
Out-of-Market Lease Liabilities, Less: accumulated amortization	25,184	20,143
Out-of-Market Lease Liabilities, Net	(98,586)	(84,385)
In-Place Leases [Member]
Finite Lived Intangible Assets [Line Items]
Cost	916,027	890,495
Less: accumulated amortization	(280,684)	(221,316)
Net	635,343	669,179
Out-of-Market Lease Assets [Member]
Finite Lived Intangible Assets [Line Items]
Cost	109,836	110,649
Less: accumulated amortization	(44,933)	(36,363)
Net	$ 64,903	$ 74,286

Investment Property (Intangib40

Investment Property (Intangible Assets Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
In-Place Leases [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 29,600	$ 32,300	$ 86,100	$ 97,200
Finite Lived Intangible Assets Future Amortization Expense Abstract
October 1, 2015 through December 31, 2015	27,717		27,717
2,016	104,029		104,029
2,017	82,359		82,359
2,018	61,200		61,200
2,019	48,489		48,489
Out-of-Market Leases, Net [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	500	$ 1,200	2,800	$ 4,400
Finite Lived Intangible Assets Future Amortization Expense Abstract
October 1, 2015 through December 31, 2015	515		515
2,016	2,263		2,263
2,017	930		930
2,018	(2,204)		(2,204)
2,019	$ (3,671)		$ (3,671)

Investment Property (Future Min

Investment Property (Future Minimum Rent) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Operating Leases Future Minimum Payments Receivable Abstract
October 1, 2015 through December 31, 2015	$ 82,317
2,016	328,558
2,017	316,463
2,018	237,661
2,019	208,506
Thereafter	1,276,113
Total	2,449,618
Future Minimum Service Rentals Fiscal Year Maturity [Abstract]
October 1, 2015 through December 31, 2015	1,100
2,016	4,200
2,017	3,600
2,018	3,500
2,019	1,500
Thereafter	$ 4,300

Recent Acquisitions of Real E42

Recent Acquisitions of Real Estate (Business Combinations) (Details) - USD ($) $ in Thousands	Apr. 30, 2015	Apr. 01, 2015	Mar. 04, 2015	Jan. 07, 2015	Oct. 31, 2014	Mar. 28, 2014
Simon Hegele Logistics [Member]
Business Acquisition [Line Items]
Building and Improvements				$ 56,428
Land				13,245
In-place Lease Intangibles				9,154
Out-of- Market Lease Intangibles, Net				41
Total				$ 78,868
The Summit [Member]
Business Acquisition [Line Items]
Building and Improvements			$ 217,974
Land			68,090
In-place Lease Intangibles			45,360
Out-of- Market Lease Intangibles, Net			(14,920)
Total			$ 316,504
Harder Logistics Portfolio [Member]
Business Acquisition [Line Items]
Building and Improvements		$ 38,924
Land		7,986
In-place Lease Intangibles		9,092
Out-of- Market Lease Intangibles, Net		1,150
Total		$ 57,152
The Rim [Member]
Business Acquisition [Line Items]
Building and Improvements	$ 127,975
Land	82,430
In-place Lease Intangibles	53,860
Out-of- Market Lease Intangibles, Net	(28,300)
Total	$ 235,965
25 Cabot Square [Member]
Business Acquisition [Line Items]
Building and Improvements						$ 165,121
In-place Lease Intangibles						206,640
Out-of- Market Lease Intangibles, Net						(16)
Total						$ 371,745
818 Bourke [Member]
Business Acquisition [Line Items]
Building and Improvements					$ 82,867
Land					36,487
In-place Lease Intangibles					17,082
Out-of- Market Lease Intangibles, Net					(792)
Total					$ 135,644

Recent Acquisitions of Real E43

Recent Acquisitions of Real Estate (Intangible Assets) (Details)	Apr. 30, 2015	Apr. 01, 2015	Mar. 04, 2015	Jan. 07, 2015	Oct. 31, 2014	Jun. 03, 2014	Mar. 28, 2014	Feb. 13, 2014
Simon Hegele Logistics Phase II [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets				11 years 3 months 4 days
The Summit [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, Below-Market Lease Liabilities			5 years 7 months 21 days
The Summit [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets			5 years 26 days
The Summit [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets			3 years 7 days
Harder Logistics Portfolio [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets		9 years 11 months 16 days
Harder Logistics Portfolio [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets		5 years 8 months 1 day
The Rim Phase V Acquired 4/30/15 [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, Below-Market Lease Liabilities	5 years 11 months 23 days
The Rim Phase V Acquired 4/30/15 [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets	11 years 3 months 29 days
The Rim Phase V Acquired 4/30/15 [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets	9 years 9 months 29 days
The Rim [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, Below-Market Lease Liabilities								35 years 3 months 7 days
The Rim [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets								16 years 5 months 23 days
The Rim [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets								12 years 10 months 13 days
25 Cabot Square [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, Below-Market Lease Liabilities							2 years 11 months 27 days
25 Cabot Square [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets							11 years 8 months 11 days
25 Cabot Square [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets							6 months 4 days
Simon Hegele Logistics Phase I [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets						13 years 5 months 1 day
Simon Hegele Logistics Phase I [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets						13 years 5 months 1 day
818 Bourke [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, Below-Market Lease Liabilities					3 years 1 month 10 days
818 Bourke [Member] | In-Place Leases [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets					4 years 1 month 10 days
818 Bourke [Member] | Above-Market Lease Assets [Member]
Acquired Finite-Lived Intangible Assets [Line Items]
Weighted average amortization period, In-place and Above-Market Lease Assets					3 years 3 months 29 days

Recent Acquisitions of Real E44

Recent Acquisitions of Real Estate (Pro Forma Information) (Details) $ / shares in Units, $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares	Sep. 30, 2013USD ($)$ / shares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)$ / shares	Sep. 30, 2013USD ($)$ / shares	Apr. 30, 2015ft²	Jan. 07, 2015ft²	Jun. 03, 2014
Current Year Acquisitions [Member]
Business Acquisition Pro Forma Information [Abstract]
Acquisition related expenses and fees excluded from pro forma net loss	$ (200)	$ 300		$ 17,200	$ 35,100
Revenues	119,533	125,557		357,998	363,971
Net income (loss)	$ 1,790	$ 4,317		$ 5,469	$ (6,854)
Basic and diluted income (loss) per common share (in dollars per share) | $ / shares	$ 0	$ 0.01		$ 0	$ (0.04)
Simon Hegele Logistics [Member]
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree	$ 1,350			$ 4,014
Net income (loss) of acquiree	118			(13)
The Summit [Member]
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree	6,664			15,357
Net income (loss) of acquiree	315			330
Harder Logistics Portfolio [Member]
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree	1,170			2,301
Net income (loss) of acquiree	282			(6,457)
Simon Hegele Logistics Phase II [Member]
Business Acquisition [Line Items]
Area of real estate property (in square feet) | ft²								236,661
Percentage of net rentable area (percent)								38.90%
The Rim Phase V Acquired 4/30/15 [Member]
Business Acquisition [Line Items]
Area of real estate property (in square feet) | ft²							259,316
Percentage of net rentable area (percent)							28.30%
Prior Year Acquisitions [Member]
Business Acquisition Pro Forma Information [Abstract]
Acquisition related expenses and fees excluded from pro forma net loss		$ 300	$ 11,700		$ 35,100	$ 73,200
Revenues		117,705	105,147		353,101	270,645
Net income (loss)		$ 4,469	$ (3,984)		$ (6,571)	$ (14,153)
Basic and diluted income (loss) per common share (in dollars per share) | $ / shares		$ 0.02	$ (0.02)		$ (0.03)	$ (0.08)
The Rim [Member]
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree	6,114	$ 6,033		17,102	$ 12,513
Net income (loss) of acquiree	$ (139)	937		$ 1,519	268
25 Cabot Square [Member]
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree		8,839			18,532
Net income (loss) of acquiree		608			(17,433)
Simon Hegele Logistics Phase I [Member]
Business Acquisition [Line Items]
Business acquisition, percentage of rentable area leased (percent)									100.00%
Business Combination Revenues And Net Loss Since Acquisition [Abstract]
Revenue of acquiree		930			1,231
Net income (loss) of acquiree		$ (15)			$ (3,556)

Real Estate Loans Receivable (D

Real Estate Loans Receivable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Real Estate Loans Receivable	$ 68,070	$ 74,400
The Rim [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	8.50%
Total Loan Commitment	$ 26,300
Total Real Estate Loans Receivable	$ 20,347	11,324
@1377 [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	10.00%
Total Loan Commitment	$ 3,962
Total Real Estate Loans Receivable	$ 3,962	3,962
Flagship Capital JV [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.29%
Total Loan Commitment	$ 69,482
Loans receivable	43,945	59,754
Less: Origination fees	(184)	(640)
Total Real Estate Loans Receivable	$ 43,761	59,114
Flagship Capital JV [Member] | Houston Retail Portfolio [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.60%
Total Loan Commitment	$ 11,804
Loans receivable	$ 0	11,457
Flagship Capital JV [Member] | Motor Circle [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	8.00%
Total Loan Commitment	$ 3,175
Loans receivable	$ 0	2,423
Flagship Capital JV [Member] | Falls of Kirkwood [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	8.00%
Total Loan Commitment	$ 6,300
Loans receivable	$ 6,233	6,222
Flagship Capital JV [Member] | Falls of Town Park Apartment [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.75%
Total Loan Commitment	$ 5,327
Loans receivable	$ 5,272	5,227
Flagship Capital JV [Member] | Precinct Villages [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	8.50%
Total Loan Commitment	$ 2,595
Loans receivable	$ 1,799	1,811
Flagship Capital JV [Member] | Manor Palms [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.00%
Total Loan Commitment	$ 4,109
Loans receivable	$ 0	3,979
Flagship Capital JV [Member] | Randalls [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	6.25%
Total Loan Commitment	$ 10,939
Loans receivable	$ 8,295	8,110
Flagship Capital JV [Member] | Finesilver [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	6.45%
Total Loan Commitment	$ 7,233
Loans receivable	$ 5,198	5,165
Flagship Capital JV [Member] | Dymaxion Apartments [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.60%
Total Loan Commitment	$ 8,500
Loans receivable	$ 8,204	7,684
Flagship Capital JV [Member] | Marbach Park [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate	7.60%
Total Loan Commitment	$ 9,500
Loans receivable	$ 8,944	$ 7,676

Debt Financing (Details)

Debt Financing (Details) € in Millions	1 Months Ended			2 Months Ended	9 Months Ended	12 Months Ended
	Nov. 16, 2015USD ($)extension	Jul. 31, 2015extension	Jun. 30, 2015USD ($)	Nov. 16, 2015USD ($)extension	Sep. 30, 2015USD ($)extension	Dec. 31, 2014USD ($)	Nov. 13, 2015USD ($)extension	Mar. 31, 2015USD ($)instrument	Jan. 31, 2015EUR (€)€ / $	Jan. 31, 2015USD ($)€ / $
Debt Instrument [Line Items]
Debt, weighted average years to maturity					3 years 29 days	2 years 9 months
Debt, weighted average interest rate (percent)					2.40%	2.90%
Debt, Principal Outstanding					$ 2,504,711,000	$ 2,112,642,000
Unamortized Premium/ (Discount)					38,000	(283,000)
Notes Payable					2,504,749,000	2,112,359,000
Notes payable to affiliates					0	17,601,000
Debt outstanding					2,504,749,000	2,129,960,000
Note payable, subject to interest rate swap					$ 95,000,000	236,000,000
Debt instrument, description of variable rate basis					LIBOR, EURIBOR or the BBSY screen rate
Minimum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)					0.80%
Debt instrument, basis spread on variable rate					0.70%
Maximum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)					4.50%
Debt instrument, basis spread on variable rate					2.50%
Interest Rate Caps [Member]
Debt Instrument [Line Items]
Derivative, notional amount					$ 1,000,000,000
Secured Debt [Member] | Fifty South Sixth [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Number of extension options, debt | extension							2
Period of extension options, debt	12 months
Amended debt instrument, face amount							$ 125,000,000
Secured Debt [Member] | The Campus at Playa Vista [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Number of extension options, debt | extension	2			2
Period of extension options, debt	12 months
Amended debt instrument, face amount	$ 150,000,000			$ 150,000,000
Secured Debt [Member] | Flagship Capital Joint Venture [Member]
Debt Instrument [Line Items]
Variable interest rate, floor					4.25%
Credit facility, Interest Rate (percent)					4.25%
Credit facility, principal outstanding					$ 14,207,000	25,162,000
Secured Debt [Member] | Brindleyplace JV [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.02%
Debt, Principal Outstanding					$ 183,579,000	188,034,000
Secured Debt [Member] | Brindleyplace JV [Member] | Secured mortgage debt, three-month extension [Member]
Debt Instrument [Line Items]
Number of extension options, debt | extension		2
Period of extension options, debt		3 months
Secured Debt [Member] | Brindleyplace JV [Member] | Secured mortgage debt, six-month extension [Member]
Debt Instrument [Line Items]
Number of extension options, debt | extension		1
Period of extension options, debt		6 months
Secured Debt [Member] | Hock Plaza [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					5.58%
Debt, Principal Outstanding					$ 74,728,000	75,657,000
Secured Debt [Member] | Southpark [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					5.67%
Debt, Principal Outstanding					$ 18,000,000	18,000,000
Secured Debt [Member] | Fifty South Sixth [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					3.62%
Debt, Principal Outstanding					$ 95,000,000	95,000,000
Secured Debt [Member] | Gogolevsky 11 [Member]
Debt Instrument [Line Items]
Debt, Principal Outstanding					$ 0	35,100,000
Secured Debt [Member] | 100 Brookes Street [Member]
Debt Instrument [Line Items]
Reduction in margin on variable rate debt					0.35%
Interest Rate at period end (percent)					4.48%
Debt, Principal Outstanding					$ 30,154,000	35,254,000
Secured Debt [Member] | Poland Logistics Portfolio [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.00%
Debt, Principal Outstanding					$ 69,844,000	76,797,000
Secured Debt [Member] | Minneapolis Retail Center [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					3.50%
Debt, Principal Outstanding					$ 65,500,000	65,500,000
Secured Debt [Member] | 825 Ann [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					3.19%
Debt, Principal Outstanding					$ 56,529,000	66,091,000
Secured Debt [Member] | Mercedes Benz Bank [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.55%
Debt, Principal Outstanding					$ 37,951,000	41,346,000
Secured Debt [Member] | 465 Victoria [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					4.23%
Debt, Principal Outstanding					$ 37,118,000	43,396,000
Secured Debt [Member] | New City [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.30%
Debt, Principal Outstanding					$ 86,886,000	95,934,000
Secured Debt [Member] | One Westferry Circus [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					3.30%
Debt, Principal Outstanding					$ 72,787,000	74,554,000
Secured Debt [Member] | The Campus at Playa Vista [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.70%
Debt, Principal Outstanding					$ 115,000,000	115,000,000
Secured Debt [Member] | Perspective Defense [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.48%
Debt, Principal Outstanding					$ 78,701,000	85,085,000
Secured Debt [Member] | Fiege Mega Centre [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.69%
Debt, Principal Outstanding					$ 25,995,000	28,373,000
Secured Debt [Member] | 55 M Street [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.64%
Debt, Principal Outstanding					$ 72,000,000	72,000,000
Secured Debt [Member] | 25 Cabot Square [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					3.50%
Debt, Principal Outstanding					$ 187,655,000	192,209,000
Secured Debt [Member] | Simon Hegele Logistics [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.90%
Debt, Principal Outstanding					$ 40,245,000	26,106,000
Secured Debt [Member] | 818 Bourke [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.89%
Debt, Principal Outstanding					$ 62,958,000	74,627,000
Secured Debt [Member] | The Summit [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.75%
Debt, Principal Outstanding					$ 170,000,000	0
Secured Debt [Member] | Harder Logistics Portfolio [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					0.95%
Debt, Principal Outstanding					$ 35,284,000	0
Secured Debt [Member] | Simon Hegele Logistics Phase II [Member]
Debt Instrument [Line Items]
Debt, Principal Outstanding									€ 14.6	$ 17,800,000
Foreign currency exchange rate (usd per eur) (aud per usd) | € / $									1.22	1.22
Revolving Credit Facility- Revolving Loan [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rate (percent)					1.80%
Credit facility, principal outstanding					$ 292,000,000	122,894,000
Loan commitments, borrowing capacity			$ 425,000,000
Credit agreement, extension option, term			1 year
Revolving Credit Facility- Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rate (percent)					1.75%
Credit facility, principal outstanding					$ 495,000,000	378,000,000
Loan commitments, borrowing capacity			$ 495,000,000
Construction Loan Payable [Member] | Water Wall Place [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					1.79%
Debt, Principal Outstanding					$ 44,897,000	44,092,000
Number of extension options, debt | extension					2
Period of extension options, debt					1 year
Construction Loan Payable [Member] | Aviva Coral Gables JV [Member]
Debt Instrument [Line Items]
Interest Rate at period end (percent)					2.46%
Debt, Principal Outstanding					$ 42,693,000	38,431,000
Construction Loan Payable [Member] | Aviva Coral Gables JV [Member] | Affiliated Entity [Member]
Debt Instrument [Line Items]
Notes payable to affiliates					0	$ 17,601,000
Revolving Credit Facility (Including Revolving and Term Loans) [Member]
Debt Instrument [Line Items]
Loan commitments, borrowing capacity			920,000,000
Credit agreement, maximum borrowing capacity			$ 1,250,000,000
Credit facility, additional borrowings					1,100,000,000
Repayments of revolving credit facility					824,700,000
Gain on foreign currency borrowings					$ 200,000
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Credit facility, principal outstanding	$ 877,000,000			877,000,000
Credit facility, additional borrowings				$ 90,000,000
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)								0.75%
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)								2.25%
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Interest Rate Caps [Member]
Debt Instrument [Line Items]
Number of derivative instruments | instrument								2
Derivative, notional amount								$ 250,000,000

Debt Financing (Maturity Schedu

Debt Financing (Maturity Schedule) (Details) $ in Thousands	Sep. 30, 2015USD ($)
Maturities Of Long Term Debt Abstract
October 1, 2015 through December 31, 2015	$ 355,542
2,016	233,841
2,017	152,072
2,018	156,436
2,019	1,143,360
Thereafter	$ 463,460

Derivative Instruments (Details

Derivative Instruments (Details) - USD ($) $ in Thousands	Jul. 31, 2016	Jan. 31, 2016	Dec. 31, 2015	Sep. 30, 2015
Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 1,000,000
Not Designated as Hedging Instrument [Member] | Interest Rate Swap Effective November 4, 2010 [Member] | Interest Rate Swaps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 95,000
Not Designated as Hedging Instrument [Member] | Interest Rate Swap Effective November 4, 2010 [Member] | Interest Rate Swaps [Member] | LIBOR [Member]
Derivative [Line Items]
Derivative, swap, pay rate / strike rate (percent)				1.37%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective August 2, 2012 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 52,816
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective August 2, 2012 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective October 9, 2012 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 11,002
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective October 9, 2012 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective January 7, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 45,500
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective January 7, 2013 [Member] | Interest Rate Caps [Member] | LIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				1.25%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 11, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 37,952
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 11, 2013 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				1.50%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 20, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 19,255
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 20, 2013 [Member] | Interest Rate Caps [Member] | BBSW [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				4.33%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective July 30, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 42,399
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective July 30, 2013 [Member] | Interest Rate Caps [Member] | BBSW [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				4.50%
Not Designated as Hedging Instrument [Member] | Interest Rate Caps Effective April 11, 2013 and May 6, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 60,820
Not Designated as Hedging Instrument [Member] | Interest Rate Caps Effective April 11, 2013 and May 6, 2013 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.50%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective July 25, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 78,702
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective July 25, 2013 [Member] | Interest Rate Caps [Member] | Forecast [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)	2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective July 25, 2013 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				1.70%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective October 18, 2013 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 25,994
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective October 18, 2013 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective September 5, 2014 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 46,191
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective September 5, 2014 [Member] | Interest Rate Caps [Member] | Forecast [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)		3.25%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective September 5, 2014 [Member] | Interest Rate Caps [Member] | LIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap, Effective November 27, 2014 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 31,917
Not Designated as Hedging Instrument [Member] | Interest Rate Cap, Effective November 27, 2014 [Member] | Interest Rate Caps [Member] | BBSY [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				4.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 27, 2015, Contract One [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 250,000
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 27, 2015, Contract One [Member] | Interest Rate Caps [Member] | LIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				0.75%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 27, 2015, Contract Two [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 250,000
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 27, 2015, Contract Two [Member] | Interest Rate Caps [Member] | LIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				0.75%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 31, 2015 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 35,284
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 31, 2015 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				1.50%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective June 30, 2017 [Member] | Interest Rate Caps [Member]
Derivative [Line Items]
Derivative, notional amount				$ 60,544
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective June 30, 2017 [Member] | Interest Rate Caps [Member] | EURIBOR [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)				2.00%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap Effective March 27, 2015 [Member] | Interest Rate Caps [Member] | Forecast [Member]
Derivative [Line Items]
Derivative, cap, pay rate / strike rate (percent)			2.25%

Derivative Instruments (Fair Va

Derivative Instruments (Fair Value on Balance Sheet) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Derivatives, Fair Value [Line Items]
Derivative Assets, fair value	$ 688	$ 14,661
Derivative Liabilities, fair value	(99)	(9,848)
Interest Rate Swaps [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, fair value	0	0
Derivative Liabilities, fair value	(99)	(2,684)
Interest Rate Caps [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, fair value	688	345
Derivative Liabilities, fair value	0	0
Foreign currency forward contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets, fair value	0	14,316
Derivative Liabilities, fair value	$ 0	$ (7,164)

Derivative Instruments (Stateme

Derivative Instruments (Statement of Operations Gain Loss) (Details) - Not Designated as Hedging Instrument [Member] - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ (59)	$ 8,946	$ 586	$ 6,819
Interest Rate Swaps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	804	876	2,561	3,388
Interest Rate Caps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	(863)	(457)	(1,975)	(3,900)
Foreign currency forward contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ 0	$ 8,527	$ 0	$ 7,331

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended		12 Months Ended	22 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014	Nov. 13, 2015
Other Ownership Interests [Line Items]
Cash Distributions	$ 21,110	$ 20,770	$ 20,375	$ 20,649	$ 20,453	$ 20,117	$ 18,336	$ 62,255		$ 79,555
Distributions Reinvested	23,648	23,372	23,097	23,628	23,612	23,211	21,079	70,117		91,530
Total Declared	44,758	44,142	43,472	44,277	44,065	43,328	39,415	132,372		171,085
Noncontrolling Interests, Total Declared	$ 835	$ 1,643	$ 816	$ 2,458	$ 675	$ 855	$ 680	3,294		$ 4,668
Moorfield [Member]
Other Ownership Interests [Line Items]
Noncontrolling Interests, Total Declared								$ 2,800	$ 2,000
Subsequent Event [Member]
Other Ownership Interests [Line Items]
Distributions declared (in dollars per share, per day)											$ 0.0017808

Related Party Transactions (by

Related Party Transactions (by Category) (Details) - USD ($) $ in Thousands	Apr. 01, 2015	Mar. 31, 2015	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Due to affiliates			$ 12,844		$ 12,844		$ 14,106
Dealer Manager [Member] | Selling Commissions [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			0	$ 0	0	$ 27,021
Due to affiliates			0		0		0
Dealer Manager [Member] | Dealer Manager Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			0	0	0	9,334
Due to affiliates			0		0		0
The Advisor [Member] | Issuer Costs [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			12	(86)	53	1,967
Due to affiliates			0		0		0
The Advisor [Member] | Other Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			1,430	1,538	4,152	4,110
Due to affiliates			970		970		1,657
The Advisor and Affiliate of Hines [Member] | Acquisition Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			0	129	8,854	13,606
Due to affiliates			474		474		1,492
Related party acquisition fees (percent)	0.50%	2.25%
The Advisor and Affiliate of Hines [Member] | Asset Management Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			9,025	8,897	26,688	25,949
Due to affiliates			8,638		8,638		8,402
Hines [Member] | Property Management Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			1,848	1,681	5,464	4,962
Due to affiliates			28		28		159
Hines [Member] | Development/Construction Management Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			33	807	120	2,626
Due to affiliates			26		26		35
Hines [Member] | Leasing Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			337	128	1,461	1,567
Due to affiliates			2,243		2,243		1,363
Hines [Member] | Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party			2,786	$ 2,846	8,325	$ 7,812
Due to affiliates			$ 465		$ 465		$ 998

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Sep. 30, 2015	Jun. 30, 2012
Related Party Transaction [Line Items]
Real estate loans receivable	$ 74,400		$ 68,070
The Advisor [Member] | Asset Management Fee [Member]
Related Party Transaction [Line Items]
Asset management fee waiver, percentage (less than)	100.00%	100.00%
@1377 [Member]
Related Party Transaction [Line Items]
Mezzanine loan commitment				$ 3,200
Real estate loans receivable	$ 4,000		$ 4,000

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Liabilities	$ (99)	$ (9,848)
Derivative Instruments, Assets	688	14,661
Notes payable carrying amount	2,504,749	2,129,960
Fair Value Measurements Recurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign currency forwards - Assets	0	14,316
Foreign currency forwards - Liabilities	0	(7,164)
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign currency forwards - Assets	0	0
Foreign currency forwards - Liabilities	0	0
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign currency forwards - Assets	0	14,316
Foreign currency forwards - Liabilities	0	(7,164)
Fair Value Measurements Recurring [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Foreign currency forwards - Assets	0	0
Foreign currency forwards - Liabilities	0	0
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Liabilities	(99)	(2,684)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Liabilities	0	0
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Liabilities	(99)	(2,684)
Fair Value Measurements Recurring [Member] | Interest Rate Swaps [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Liabilities	0	0
Fair Value Measurements Recurring [Member] | Interest Rate Caps [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Assets	688	345
Fair Value Measurements Recurring [Member] | Interest Rate Caps [Member] | Fair Value, Inputs, Level 1 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Assets	0	0
Fair Value Measurements Recurring [Member] | Interest Rate Caps [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Assets	688	345
Fair Value Measurements Recurring [Member] | Interest Rate Caps [Member] | Fair Value, Inputs, Level 3 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Derivative Instruments, Assets	0	0
Fair Value Measurements Nonrecurring [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable carrying amount	2,504,749	2,129,960
Fair Value Measurements Nonrecurring [Member] | Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable fair value	$ 2,461,100	$ 2,144,200

Reportable Segments (Details)

Reportable Segments (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015USD ($)real_estate_investment	Sep. 30, 2014USD ($)	Sep. 30, 2015USD ($)real_estate_investmentsegment	Sep. 30, 2014USD ($)	Dec. 31, 2014USD ($)
Segment Reporting Information [Line Items]
Number of reportable segments | segment			4
Number of real estate investments | real_estate_investment	43		43
Total Revenue	$ 119,533	$ 117,705	$ 352,353	$ 340,669
Total Assets	$ 4,353,403		$ 4,353,403		$ 4,126,594
Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments | real_estate_investment	12		12
Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments | real_estate_investment	10		10
International Office Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments | real_estate_investment	10		10
International Other Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments | real_estate_investment	11		11
Operating Segments [Member]
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	$ 81,840	81,609	$ 241,336	237,529
Operating Segments [Member] | Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Total Revenue	43,772	36,464	125,797	109,407
Property revenues in excess of expenses	27,597	22,467	79,598	68,957
Total Assets	1,522,726		1,522,726		1,227,066
Operating Segments [Member] | Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Total Revenue	30,412	27,488	87,463	77,473
Property revenues in excess of expenses	19,462	16,748	56,311	49,260
Total Assets	1,087,456		1,087,456		1,041,004
Operating Segments [Member] | International Office Investments [Member]
Segment Reporting Information [Line Items]
Total Revenue	28,164	37,107	86,907	105,068
Property revenues in excess of expenses	22,383	30,494	68,108	85,332
Total Assets	1,107,790		1,107,790		1,237,989
Operating Segments [Member] | International Other Investments [Member]
Segment Reporting Information [Line Items]
Total Revenue	17,185	16,646	52,186	48,721
Property revenues in excess of expenses	12,398	$ 11,900	37,319	$ 33,980
Total Assets	598,569		598,569		557,003
Corporate-level accounts [Member]
Segment Reporting Information [Line Items]
Total Assets	$ 36,862		$ 36,862		$ 63,532

Reportable Segments (Geographic

Reportable Segments (Geographical) (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Total Revenue [Member] | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)	63.00%	54.00%	60.00%	54.00%
Total Revenue [Member] | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)	16.00%	20.00%	17.00%	19.00%
Total Revenue [Member] | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)	7.00%	8.00%	7.00%	8.00%
Total Revenue [Member] | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)	5.00%	7.00%	6.00%	7.00%
Total Revenue [Member] | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)	4.00%	3.00%	4.00%	3.00%
Total Revenue [Member] | France
Segment Reporting Information [Line Items]
Concentration risk (percent)	3.00%	3.00%	3.00%	4.00%
Total Revenue [Member] | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)	2.00%	5.00%	3.00%	5.00%
Total Assets [Member] | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)			61.00%	56.00%
Total Assets [Member] | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)			17.00%	18.00%
Total Assets [Member] | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)			7.00%	9.00%
Total Assets [Member] | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)			6.00%	7.00%
Total Assets [Member] | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)			5.00%	4.00%
Total Assets [Member] | France
Segment Reporting Information [Line Items]
Concentration risk (percent)			3.00%	4.00%
Total Assets [Member] | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)			1.00%	2.00%

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Segment Reporting Information [Line Items]
Depreciation and amortization	$ (48,027)	$ (49,401)	$ (139,148)	$ (146,861)
Acquisition related expenses	175	(158)	(8,332)	(21,480)
Asset management and acquisition fees	(9,025)	(9,026)	(35,542)	(39,555)
General and administrative expenses	(2,037)	(1,831)	(6,429)	(5,070)
Gain (loss) on derivatives	(59)	8,946	586	6,819
Gain (loss) on sale of real estate investments	55	0	(1,073)	0
Foreign currency gains (losses)	(1,485)	(3,899)	(5,538)	(9,651)
Interest expense	(17,794)	(20,357)	(54,759)	(58,280)
Interest income	80	160	345	437
Benefit (provision) for income taxes	(1,570)	(1,865)	(3,559)	(4,635)
Net income (loss)	2,153	4,178	(12,113)	(40,747)
Operating Segments [Member]
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	81,840	81,609	241,336	237,529
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Depreciation and amortization	(48,027)	(49,401)	(139,148)	(146,861)
Acquisition related expenses	175	(158)	(8,332)	(21,480)
Asset management and acquisition fees	(9,025)	(9,026)	(35,542)	(39,555)
General and administrative expenses	(2,037)	(1,831)	(6,429)	(5,070)
Gain (loss) on derivatives	(59)	8,946	586	6,819
Gain (loss) on sale of real estate investments	55	0	(1,073)	0
Foreign currency gains (losses)	(1,485)	(3,899)	(5,538)	(9,651)
Interest expense	(17,794)	(20,357)	(54,759)	(58,280)
Interest income	80	160	345	437
Benefit (provision) for income taxes	$ (1,570)	$ (1,865)	$ (3,559)	$ (4,635)

Supplemental Cash Flow Disclo58

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$ 48,728	$ 46,051
Cash paid for taxes	4,929	3,868
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	18,775	18,084	$ 17,558
Distributions reinvested	70,355	66,805
Shares tendered for redemption	4,009	3,538
Non-cash net liabilities acquired	9,682	2,524
Accrued capital additions	$ 429	$ 3,864

Commitments and Contingencies (

Commitments and Contingencies (Details) - Fifty South Sixth [Member] - Dorsey and Whitney LLP [Member] - USD ($) $ in Millions	Sep. 30, 2015	Nov. 30, 2013
Other Commitments [Line Items]
Tenant improvement, maximum exposure		$ 20.8
Tenant improvement, unfunded amount	$ 11.4