HGR Liquidating Trust 10-K 28 Mar 16 2015 FY Annual report Financial data

Document and Entity Information

Document and Entity Information - USD ($) shares in Millions	12 Months Ended
	Dec. 31, 2015	Mar. 20, 2016	Jun. 30, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	Hines Global REIT, Inc.
Entity Central Index Key	1,453,818
Document Type	10-K
Document Period End Date	Dec. 31, 2015
Amendment Flag	false
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
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 Public Float			$ 0
Entity Common Stock, Shares Outstanding		275.3

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
ASSETS
Investment property, net	$ 3,267,877	$ 2,964,699
Investment in unconsolidated entities	2,006	2,873
Cash and cash equivalents	136,627	143,609
Restricted cash	19,764	19,955
Derivative instruments	675	14,661
Tenant and other receivables, net	94,890	64,212
Intangible lease assets, net	672,784	743,465
Deferred leasing costs, net	104,308	59,902
Deferred financing costs, net	3,384	1,458
Real estate loans receivable, net	55,280	74,400
Other assets	15,351	25,939
Total assets	4,372,946	4,115,173
Liabilities:
Accounts payable and accrued expenses	101,981	91,007
Due to affiliates	14,469	14,106
Intangible lease liabilities, net	95,696	84,385
Other liabilities	48,583	43,633
Derivative instruments	0	9,848
Distributions payable	19,837	17,558
Notes payable to affiliates	0	17,601
Notes payable, net	2,545,656	2,100,938
Total liabilities	$ 2,826,222	$ 2,379,076
Commitments and contingencies (Note 14)
Stockholders’ equity:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of December 31, 2015 and 2014
Common shares, $.001 par value; 1,500,000 common shares authorized as of December 31, 2015 and 2014; 274,482 and 270,657 common shares issued and outstanding as of December 31, 2015 and 2014, respectively	$ 274	$ 271
Additional paid-in capital	2,476,744	2,440,089
Accumulated distributions in excess of earnings	(815,127)	(627,203)
Accumulated other comprehensive income (loss)	(163,096)	(123,769)
Total stockholders’ equity	1,498,795	1,689,388
Noncontrolling interests	47,929	46,709
Total equity	1,546,724	1,736,097
Total liabilities and equity	$ 4,372,946	$ 4,115,173

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - $ / shares	Dec. 31, 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	274,482,000	270,657,000
Common stock, shares outstanding	274,482,000	270,657,000

Consolidated Statements of Oper

Consolidated Statements of Operations and Comprehensive Income (Loss) - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenues:
Rental revenue	$ 441,709	$ 425,969	$ 298,943
Other revenue	35,164	30,295	23,919
Total revenues	476,873	456,264	322,862
Expenses:
Property operating expenses	91,902	85,134	65,716
Real property taxes	47,431	42,273	28,638
Property management fees	10,337	9,694	7,739
Depreciation and amortization	186,965	193,870	140,187
Acquisition related expenses	10,472	29,278	42,747
Asset management and acquisition fees	44,522	53,069	60,490
General and administrative expenses	8,597	6,782	5,344
Total expenses	400,226	420,100	350,861
Income (loss) before other income (expenses) and benefit (provision) for income taxes	76,647	36,164	(27,999)
Other income (expenses):
Gain (loss) on derivative instruments	562	7,322	9,909
Gain (loss) on sale of real estate investments	14,684	64,003	0
Foreign currency gains (losses)	(21,468)	(13,074)	(6,458)
Interest expense	(71,288)	(78,273)	(60,968)
Interest income	427	506	454
Income (loss) before benefit (provision) for income taxes	(436)	16,648	(85,062)
Benefit (provision) for income taxes	(4,518)	(5,806)	(701)
Net income (loss)	(4,954)	10,842	(85,763)
Net (income) loss attributable to noncontrolling interests	(5,677)	(5,764)	(3,173)
Net income (loss) attributable to common stockholders	$ (10,631)	$ 5,078	$ (88,936)
Basic and diluted income (loss) per common share (in dollars per share)	$ (0.04)	$ 0.02	$ (0.48)
Weighted average number of common shares outstanding, shares	272,773	263,323	184,412
Net comprehensive income (loss):
Net income (loss)	$ (4,954)	$ 10,842	$ (85,763)
Other comprehensive income (loss):
Foreign currency translation adjustment	(40,516)	(101,397)	(14,840)
Net comprehensive income (loss):	(45,470)	(90,555)	(100,603)
Net comprehensive (income) loss attributable to noncontrolling interests	(4,488)	(4,215)	(3,642)
Net comprehensive income (loss) attributable to common stockholders	$ (49,958)	$ (94,770)	$ (104,245)

Consolidated Statements of Equi

Consolidated Statements of Equity - USD ($) shares in Thousands, $ in Thousands	Total	Hines Global REIT, Inc. Common Stock	Hines Global REIT, Inc. Additional Paid-in Capital	Hines Global REIT, Inc. Accumulated Distributions in Excess of Earnings	Hines Global REIT, Inc. Accumulated Other Comprehensive Income (Loss)	Total Stockholders' Equity	Noncontrolling Interests
Beginning balance, value at Dec. 31, 2012		$ 149	$ 1,324,866	$ (252,496)	$ (8,612)	$ 1,063,907	$ 40,363
Beginning balance, shares at Dec. 31, 2012		148,889
Increase (Decrease) in Stockholders' Equity
Issuance of common shares, value		$ 82	833,748			833,830
Issuance of common shares, shares		82,085
Contributions from noncontrolling interest							2,594
Distributions declared				(119,764)		(119,764)	(544)
Distributions on CPEC							(2,787)
Redemption of common shares, value		$ (2)	(20,071)			(20,073)
Redemption of common shares, shares		(1,939)
Selling commissions and dealer manager fees			(75,579)			(75,579)
Issuer costs			(7,137)			(7,137)
Net income (loss)	$ (85,763)			(88,936)		(88,936)	3,173
Foreign currency translation adjustment	(14,840)				(22,794)	(22,794)	469
Foreign currency translation adjustment reclassified into earnings					7,485	7,485
Ending balance, value at Dec. 31, 2013		$ 229	2,055,827	(461,196)	(23,921)	1,570,939	43,268
Ending balance, shares at Dec. 31, 2013		229,035
Increase (Decrease) in Stockholders' Equity
Issuance of common shares, value		$ 45	463,514			463,559
Issuance of common shares, shares		45,477
Contributions from noncontrolling interest							3,894
Distributions declared				(171,085)		(171,085)	(324)
Distributions on CPEC							(4,344)
Redemption of common shares, value		$ (3)	(40,922)			(40,925)
Redemption of common shares, shares		(3,855)
Selling commissions and dealer manager fees			(36,355)			(36,355)
Issuer costs			(1,975)			(1,975)
Net income (loss)	10,842			5,078		5,078	5,764
Foreign currency translation adjustment	(101,397)				(105,570)	(105,570)	(1,549)
Foreign currency translation adjustment reclassified into earnings					5,722	5,722
Ending balance, value at Dec. 31, 2014	$ 1,736,097	$ 271	2,440,089	(627,203)	(123,769)	1,689,388	46,709
Ending balance, shares at Dec. 31, 2014	270,657	270,657
Increase (Decrease) in Stockholders' Equity
Issuance of common shares, value		$ 10	93,775			93,785
Issuance of common shares, shares		9,836
Contributions from noncontrolling interest							953
Distributions declared				(177,293)		(177,293)	(825)
Distributions on CPEC							(3,396)
Redemption of common shares, value		$ (7)	(57,059)			(57,066)
Redemption of common shares, shares		(6,011)
Issuer costs			(61)			(61)
Net income (loss)	$ (4,954)			(10,631)		(10,631)	5,677
Foreign currency translation adjustment	(40,516)				(55,541)	(55,541)	(1,189)
Foreign currency translation adjustment reclassified into earnings					16,214	16,214
Ending balance, value at Dec. 31, 2015	$ 1,546,724	$ 274	$ 2,476,744	$ (815,127)	$ (163,096)	$ 1,498,795	$ 47,929
Ending balance, shares at Dec. 31, 2015	274,482	274,482

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ (4,954)	$ 10,842	$ (85,763)
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	203,380	209,957	153,203
Foreign currency (gains) losses	21,468	13,074	6,458
(Gain) loss on sale of real estate investments	(14,684)	(64,003)	0
(Gain) loss on derivative instruments	(562)	(7,322)	(9,909)
Changes in assets and liabilities:
Change in other assets	(5,235)	(2,440)	(3,965)
Change in tenant and other receivables	(34,637)	(26,505)	(15,539)
Change in deferred leasing costs	(60,104)	(23,343)	(38,168)
Change in accounts payable and accrued expenses	9,133	18,242	27,078
Change in other liabilities	1,324	10,850	(121)
Change in due to affiliates	(224)	3,020	7,250
Net cash from operating activities	114,905	142,372	40,524
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from sale of real estate investments	30,368	248,120	0
Investments in acquired properties and lease intangibles	(511,553)	(729,674)	(1,669,620)
Capital expenditures at operating properties and developments	(11,627)	(51,671)	(56,148)
Distributions from unconsolidated entities	867	700	0
Deposits on investment property	0	(15,000)	0
Investments in real estate loans receivable	(13,208)	(50,576)	(20,022)
Proceeds from collection of real estate loans receivable	33,569	19,447	12,397
Change in restricted cash	(946)	(9,188)	(4,621)
Net cash from investing activities	(472,530)	(587,842)	(1,738,014)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	0	378,804	772,693
Contribution from noncontrolling interest	953	3,894	2,594
Redemption of common shares	(57,325)	(37,708)	(18,713)
Payment of issuer costs	(55)	(2,457)	(7,121)
Payment of selling commissions and dealer manager fees	0	(37,011)	(77,018)
Distributions paid to stockholders and noncontrolling interests	(85,275)	(81,901)	(57,277)
Proceeds from notes payable	1,756,721	1,063,094	2,118,606
Proceeds from related party notes payable	0	0	8,273
Payments on related party notes payable	(17,017)	(20,770)	0
Payments on notes payable	(1,230,638)	(788,178)	(1,010,807)
Change in security deposit liability	915	1,157	1,475
Deferred financing costs paid	(8,933)	(4,387)	(10,119)
Payments related to interest rate contracts	(2,457)	(133)	(4,330)
Net cash from financing activities	356,889	474,404	1,718,256
Effect of exchange rate changes on cash	(6,246)	(10,184)	6,695
Net change in cash and cash equivalents	(6,982)	18,750	27,461
Cash and cash equivalents, beginning of period	143,609	124,859	97,398
Cash and cash equivalents, end of period	$ 136,627	$ 143,609	$ 124,859

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION 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 substantially all of its operations through Hines Global REIT Properties, LP (the “Operating Partnership”) and subsidiaries of the Operating Partnership. Beginning with its taxable year ended December 31, 2009, the Company operated and intends to continue to operate 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. On August 5, 2009 , the Company commenced its initial public offering of common stock for sale to the public (the “Initial Offering”) 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 public 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 288.3 million shares from inception through December 31, 2015 , all of which has 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 December 31, 2015 , the Company owned interests in 43 real estate investments, consisting of the following types of investments: • Domestic office investments ( 11 investments) • Domestic other investments ( 10 investments) • International office investments ( 10 investments) • International other investments ( 12 investments) Discussed below are additional details related to the Company’s investments in real estate related debt as of December 31, 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 six loans receivable, totaling $38.7 million , outstanding as of December 31, 2015 . The Company is not otherwise 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. In December 2015, the Company completed the acquisition of an additional parcel, consisting of 28,901 square feet. The total amount of the commitment, as amended in April and December 2015, is $20.8 million . As of December 31, 2015 , the Company had loans of $12.7 million outstanding to the developer. The Company is not otherwise affiliated with the developer of the project. Joint Ventures, Equity Method Investments and Noncontrolling Interests On January 7, 2009, the Company and Hines Global REIT Associates Limited Partnership (“HALP”), an affiliate of the Advisor, formed Hines Global REIT Properties, LP (the “Operating Partnership”). The Company conducts most of its operations through the Operating Partnership. On January 14, 2009, the Company and HALP made initial capital contributions to the Operating Partnership of $10,000 and $190,000 , respectively and accordingly, HALP owned a 95.0% noncontrolling interest in the Operating Partnership. As of December 31, 2015 and 2014 , HALP owned a 0.01% and 0.01% interest in the Operating Partnership, respectively. The Brindleyplace JV In June 2010, the Operating Partnership and Moorfield Real Estate Fund II GP Ltd., (“Moorfield”) formed Hines Moorfield UK Venture I S.A.R.L., (the “Brindleyplace JV”) and, in July 2010, the Brindleyplace JV acquired several properties located in Birmingham, England (the “Brindleyplace Project”). In 2015, LSREF 3 Laser Holdings (Jersey) Limited (“Laser”) purchased Moorfield’s interest in the Brindleyplace JV and renamed it Hines Laser UK Venture I S.A.R.L. The Company owns a 60% interest in the Brindleyplace JV and Laser holds the remaining 40% interest. The Company has concluded its investment in the Brindleyplace JV does not qualify as a variable interest entity (“VIE”) under the Financial Accounting Standards Board (the “FASB”) Accounting Standards Codification (“ASC” or the “Codification”) 810 “Consolidation.” Based on the Company’s majority voting interest as well as certain additional voting rights and other factors, the Company has consolidated the Brindleyplace JV and its wholly-owned subsidiaries in its financial statements. See Note 10 — Noncontrolling Interests for additional information regarding our noncontrolling interests in the Brindleyplace JV. Consolidated VIEs The Flagship JV In June 2011, a wholly-owned subsidiary of the Operating Partnership entered into a Limited Partnership Agreement (as amended) with Flagship Capital, GP for the formation of Flagship Capital Partners Fund, LP (the “Flagship JV”) for the purpose of originating real estate loans. The Company owns a 97% interest in the Flagship JV and Flagship Capital, GP owns the remaining 3% interest. Flagship Capital, GP serves as the general partner and will manage the day-to-day activities of the Flagship JV. Both partners have equal voting rights and distributions from the Flagship JV will initially be paid to the fund partners based on their pro rata ownership. Since the voting rights of each of the partners are disproportionate to their ownership interests, the Company has concluded that the Flagship JV qualifies as a VIE under ASC 810. Further, the Company has determined that it is the primary beneficiary due to its ability to exercise significant control and influence over the Flagship JV as well as certain other factors. As a result, the Company has consolidated the Flagship JV and its wholly-owned subsidiaries in its financial statements. See Note 10 — Noncontrolling Interests for additional information regarding our noncontrolling interests in the Flagship JV. The WaterWall Place JV In December 2011, a wholly-owned subsidiary of the Operating Partnership entered into a Limited Partnership Agreement with an affiliate of Hines for the formation of Hines One WaterWall Holdings LP (the “WaterWall Place JV”), a Delaware limited liability company, for the purpose of developing a multi-family project in Houston, Texas. Hines serves as the initial general partner and as the development partner and the subsidiary of the Operating Partnership is the initial limited partner. The Company has a 93% interest in this joint venture . An affiliate of Hines owns the remaining 7% interest in this joint venture. The Company has concluded its investment in the WaterWall Place JV qualifies as a VIE under ASC 810. Further, the Company has determined that it is the primary beneficiary since it has greater exposure to the variability of One WaterWall JV’s economic performance as well as certain other factors. As a result, the Company has consolidated the WaterWall Place JV and its wholly-owned subsidiaries in its financial statements. See Note 10 — Noncontrolling Interests for additional information regarding our noncontrolling interests in the WaterWall Place JV. The Aviva Coral Gables JV In July 2012, a wholly-owned subsidiary of the Operating Partnership entered into a Limited Partnership Agreement with an affiliate of Hines for the formation of Hines Ponce & Bird Holdings LP , a Delaware limited liability company, for the purpose of developing a multi-family project in Miami, Florida. Hines serves as the initial general partner and as the development partner and the subsidiary of the Operating Partnership is the initial limited partner. The Company has concluded its investment in the Aviva Coral Gables JV qualifies as a VIE under ASC 810. Further, the Company has determined that it is the primary beneficiary since it has greater exposure to the variability of Aviva Coral Gables's economic performance as well as certain other factors. As a result, the Company has consolidated the Aviva Coral Gables JV and its wholly-owned subsidiaries in its financial statements. See Note 10 — Noncontrolling Interests for additional information regarding our noncontrolling interests in the Aviva Coral Gables JV. A summary of our consolidated VIEs is as follows (in thousands): December 31, 2015 December 31, 2014 Maximum risk of loss (1) $ 52,394 $ 47,986 Assets held by VIEs $ 171,172 $ 188,264 Assets held as collateral for debt $ 171,172 $ 188,264 Liabilities held by VIEs $ 106,656 $ 131,691 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs. Restrictions on the use of these assets are significant because they serve as collateral for the 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 and the Aviva Coral Gables JV, respectively. The Company and its partners are subject to the terms of the joint venture agreements which include provisions for when additional contributions may be required. During the year ended December 31, 2015 , the Company made capital contributions of $4.4 million , net of distributions received of $13.1 million in accordance with the Company’s respective joint venture agreements. During the year ended December 31, 2014 , the Company made capital contributions of $22.7 million , net of distributions received of $6.5 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 and December 2015, to provide $20.8 million of construction financing at The Rim. In April 2015, the Company completed the acquisition of the first of these additional parcels, consisting of 259,316 square feet. In December 2015, the Company completed the acquisition of an additional parcel, consisting of 28,901 square feet. 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. As of December 31, 2015 , the Company had loans of $12.7 million outstanding to the developer. 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 provided a preferred equity investment in the project of $3.6 million , representing a 51.7% ownership in the project, for the year ended December 31, 2012. The Company has concluded that 1377 qualifies as a VIE. 1377 is financed with a $23.3 million secured loan made by Cadence Bank, N.A., which is solely guaranteed by the Company’s joint venture partner (the “JV Partner”), and a $3.2 million mezzanine loan commitment plus accrued interest made by the Company, of which $4.0 million was outstanding at December 31, 2015 . The JV Partner is the manager of the project, allowing the JV Partner to direct the activities of the VIE that most significantly impact the VIE’s financial performance. Based upon the loan guarantees and the JV Partner’s ability to direct the activities that significantly impact the economic performance of the VIE, the Company has determined that it is not the primary beneficiary of this VIE and will account for its preferred equity investment in the project as an equity method investment. 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): Years Ended December 31, Investment in Unconsolidated Affiliates 2015 2014 2013 Beginning balance 2,873 3,573 3,573 Equity in earnings 408 — — Distributions (1,275 ) (700 ) — Ending balance 2,006 2,873 3,573 The table below summarizes the Company’s maximum loss exposure related to its unconsolidated VIEs as of December 31, 2015 and December 31, 2014 , 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 balance held by the VIEs which is included in the balance sheet line item “Real estate loans receivable” in the condensed consolidated balance sheets as of December 31, 2015 and December 31, 2014 (in thousands). Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (2) December 31, 2015 $ 2,006 $ 18,619 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 made to the VIEs as of the date indicated. See Note 5 — Real Estate Loans Receivable for additional information regarding the loan.

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Use of Estimates The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of the consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities and contingencies as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company evaluates its assumptions and estimates on an ongoing basis. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Additionally, application of the Company’s accounting policies involves exercising judgments regarding assumptions as to future uncertainties. Actual results may differ from these estimates under different assumptions or conditions. Basis of Presentation The consolidated financial statements of the Company include the accounts of Hines Global REIT, Inc., the Operating Partnership and its wholly-owned subsidiaries and the joint ventures as well as amounts related to noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. The Company has retroactively changed, for all periods presented, its classification of distributions in the consolidated balance sheet and statement of equity by reflecting such distributions as charges against “accumulated distributions in excess of earnings.” This presentation change had no impact on the balances in total equity in any of the periods presented. The Company evaluates the need to consolidate joint ventures in accordance with GAAP. In accordance with GAAP, the Company will consolidate joint ventures that are determined to be variable interest entities for which it is the primary beneficiary. Further, partially owned real estate joint ventures over which the Company has a controlling financial interest are consolidated in its financial statements. In determining if the Company has a controlling financial interest, it considers factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights. Management continually analyzes and assesses reconsideration events, including changes in these factors, to determine if the consolidation treatment remains appropriate. Partially owned real estate joint ventures where the Company does not have a controlling financial interest, but has the ability to exercise significant influence, are accounted for using the equity method. The Company’s investments in partially owned real estate joint ventures are reviewed for impairment periodically if events or circumstances change indicating that the carrying amount of its investments may not be recoverable. In such an instance, the Company will record an impairment charge if it determines that a decline in the value of an investment below its fair value is other than temporary. The Company’s analysis will be dependent on a number of factors, including the performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery. Based on the Company’s analysis of the facts and circumstances at each reporting period, no impairment was recorded related to its investments in unconsolidated, partially owned real estate joint ventures for the years ended December 31, 2015 , 2014 , and 2013 . However, if market conditions deteriorate in the future and result in lower valuations or reduced cash flows of the Company’s investments, impairment charges may be recorded in future periods. International Operations The British pound (“GBP”) is the functional currency for the Company’s subsidiaries operating in the United Kingdom, the Russian rouble (“RUB”) is the functional currency for the Company’s subsidiaries operating in Russia, the Polish zloty (“PLN”) is the functional currency for the Company’s subsidiaries operating in Poland, the Australian dollar (“AUD”) is the functional currency for the Company’s subsidiaries operating in Australia and the Euro (“EUR”) is the functional currency for the Company’s subsidiaries operating in Germany and France. These subsidiaries have translated their financial statements into U.S. dollars for reporting purposes. Assets and liabilities are translated at the exchange rate in effect as of the balance sheet date while income statement accounts are translated using the average exchange rate for the period and significant nonrecurring transactions using the rate on the transaction date. Gains or losses resulting from translation are included in accumulated other comprehensive income (loss) within stockholders’ equity. Foreign currency transaction gains and losses are recorded in foreign currency gains (losses) on the consolidated statement of operations and result from the effect of changes in exchange rates on transactions denominated in currencies other than a subsidiary’s functional currency, including transactions between consolidated subsidiaries. An exception is made where an intercompany loan or advance is deemed to be of a long-term investment nature, in which instance foreign currency transaction gains or losses are included as currency translation adjustments and are reported in the consolidated statement of equity as accumulated other comprehensive gains or losses. During the year ended December 31, 2015, intercompany loans with the consolidated subsidiaries in Australia were repaid and as a result, the Company recognized $15.1 million of accumulated other comprehensive loss into earnings. The Company disposed of its investment in 144 Montague in November 2014 as well as its investment in Stonecutter Court in December 2014 . Upon the disposal of these properties, the Company realized a loss of $6.8 million related to the currency translation adjustment, which was included in the gain (loss) on sale of real estate in its consolidated statement of operations. During the year ended December 31, 2013 , an intercompany loan agreement with a consolidated subsidiary in Russia was amended to change the functional currency of the loan and as a result the Company recognized $1.3 million of accumulated other comprehensive loss into earnings. Additionally, an intercompany loan with a consolidated subsidiary in Australia was repaid and as a result, the Company recognized $6.2 million of accumulated other comprehensive loss into earnings. Investment Property and Lease Intangibles Real estate assets acquired by the Company are stated at fair value at the date of acquisition less accumulated depreciation. Depreciation is computed using the straight-line method. The estimated useful lives for computing depreciation are generally 10 years for furniture and fixtures, 15 - 20 years for electrical and mechanical installations and 40 years for buildings. Major replacements that extend the useful life of the assets are capitalized and maintenance and repair costs are expensed as incurred. Acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, are recorded at the estimated fair values of the assets acquired and liabilities assumed. The results of operations of acquired properties are included in the Company’s results of operations from their respective dates of acquisition. Estimates of fair values are based upon estimates of future cash flows and other valuation techniques that the Company believes are similar to those used by market participants and are used to record the purchase of identifiable assets acquired, such as land, buildings and improvements, equipment and identifiable intangible assets related to in-place leases and liabilities assumed, such as amounts related to acquired out-of-market leases, asset retirement obligations, mortgage notes payable. Values of buildings and improvements are determined on an as if vacant basis. Initial valuations are subject to change until such information is finalized, no later than 12 months from the acquisition date. Acquisition-related costs such as transaction costs and acquisition fees paid to the Advisor are expensed as incurred. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of real estate taxes, insurance and utilities) that would be incurred during the lease-up period. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms. Should a tenant terminate its lease, the unamortized portion of the in-place lease value is charged to amortization expense. Acquired out-of-market lease values (including ground leases) are recorded based on the present value (using a discount rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized out-of-market lease values are amortized as adjustments to rental revenue (or ground lease expense, as applicable) over the remaining terms of the respective leases, which include periods covered by bargain renewal options. Should a tenant terminate its lease, the unamortized portion of the out-of-market lease value is charged to rental revenue. Management estimates the fair value of assumed mortgage notes payable based upon indications of then-current market pricing for similar types of debt with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and the difference between such estimated fair value and the outstanding principal balance of the note will be amortized over the life of the mortgage note payable. Real estate assets are reviewed for impairment each reporting period if events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the current and projected operating cash flows and expected proceeds from the eventual disposition of each property on an undiscounted basis to the carrying amount of such property. If the carrying amount exceeds the undiscounted cash flows, it would be written down to the estimated fair value to reflect impairment in the value of the asset. The determination of whether investment property is impaired requires a significant amount of judgment by management and is based on the best information available to management at the time of the evaluation. No impairment charges were recorded during the years ended December 31, 2015 , 2014 , and 2013 . Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with an original maturity of three months or less at the time of purchase to be cash equivalents. Restricted Cash The Company has restricted cash primarily related to certain escrow accounts required by several of the Company’s mortgage agreements. Concentration of Credit Risk As of December 31, 2015 , the Company had cash and cash equivalents and restricted cash deposited in certain financial institutions in excess of federally insured levels. Management regularly monitors the financial stability of these financial institutions in an effort to manage the Company’s exposure to any significant credit risk in cash and cash equivalents or restricted cash. In addition, as of December 31, 2015 , the Company had $59.1 million of cash and cash equivalents deposited in certain financial institutions located in the United Kingdom, Russia, Poland, Australia, Germany, and France. Management regularly monitors the financial stability of these financial institutions in an effort to manage its exposure to any significant credit risk in cash and cash equivalents. Tenant and Other Receivables Receivable balances consist primarily of base rents, tenant reimbursements and receivables attributable to straight-line rent. An allowance for the uncollectible portion of tenant and other receivables is determined based upon an analysis of the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located. Tenant and other receivables are shown at cost in the consolidated balance sheets, net of allowance for doubtful accounts of $1.7 million and $1.9 million at December 31, 2015 and 2014 , respectively. Deferred Leasing Costs Direct leasing costs, primarily consisting of third-party leasing commissions, tenant inducements and legal costs are capitalized and amortized over the life of the related lease. Tenant inducement amortization is recorded as an offset to rental revenue and the amortization of other direct leasing costs is recorded in amortization expense. Tenant inducement amortization was $7.6 million , $4.2 million and $1.7 million for the years ended December 31, 2015 , 2014 , and 2013 , respectively, and was recorded as an offset to rental revenue. In addition, the Company recorded $2.5 million , $1.8 million and $0.7 million as amortization expense related to other direct leasing costs for the years ended December 31, 2015 , 2014 , and 2013 , respectively. Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing (see Note 6 - Debt Financing). These fees are presented as a reduction to the related debt liability for permanent mortgages and presented as an asset for revolving credit arrangements. In total, deferred financing costs (net of amortization) were $15.6 million and $12.9 million as of December 31, 2015 and 2014. 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 years ended December 31, 2015 , 2014 , and 2013 , $6.0 million , $6.9 million and $5.2 million , were amortized into interest expense in the accompanying consolidated statement of operations, respectively. Real Estate Loans Receivable Real estate loans receivable are shown at cost, net of any applicable allowance for uncollectibility and net of deferred loan origination fees. The Company defers certain loan origination fees and amortizes them as an adjustment of yield over the term of the related real estate loan receivable. The related amortization of the deferred loan origination fees are recorded in other revenue in the accompanying consolidated statement of operations and comprehensive income (loss). An allowance for the uncollectible portion of the real estate loans receivable is determined based upon an analysis of the economic conditions in the area in which the property is located and credit quality indicators which include: borrower’s payment history, the financial condition of the borrower, and business conditions in the industry in which the borrower operates. Additionally, a real estate loan receivable is considered to be impaired, when based upon current events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. If a real estate loan receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at its effective interest rate or to the value of the underlying collateral if the real estate loan receivable is collateral dependent. Evaluating real estate loans receivable for potential impairment can require management to exercise significant judgment. No impairment was recorded for the years ended December 31, 2015 , 2014 and 2013 , respectively. Further, as of December 31, 2015 and December 31, 2014 , no allowances for uncollectibility have been recorded. Other Assets Other assets included the following (in thousands): December 31, 2015 December 31, 2014 Deposits on investment property (1) $ — $ 15,000 Deferred costs 1,000 — Prepaid expenses 3,401 2,021 Deferred tax assets 10,501 8,127 Other 449 791 Other assets $ 15,351 $ 25,939 (1) As of December 31, 2014, this consisted of a deposit that had been paid related to the acquisition of The Summit. Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month. As of December 31, 2015 and December 31, 2014 , respectively, the Company recorded liabilities of $33.4 million and $34.6 million related to prepaid rental payments which were included in other liabilities in the accompanying 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 $72.2 million and $47.4 million as of December 31, 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. Other revenues consist primarily of parking revenue, tenant reimbursements and interest on loans receivable. Parking revenue represents amounts generated from contractual and transient parking and is recognized in accordance with contractual terms or as services are rendered. Other revenues relating to tenant reimbursements are recognized in the period that the expense is incurred. Issuer Costs The Company reimburses the Advisor for any issuer costs related to the Company’s public offerings that it pays on the Company’s behalf. Such costs consist of, among other costs, expenses of the Company’s organization, legal, accounting, bona fide out-of-pocket itemized and detailed due diligence costs, printing, filing fees, transfer agent costs, postage, escrow fees, data processing fees, advertising and sales literature and other offering-related costs. Organizational issuer costs, such as expenses associated with the formation of the Company and its board of directors are expensed and other issuer costs related to our public offerings are recorded as an offset to additional paid-in capital. Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). The Company’s management believes that it operates in such a manner as to qualify for treatment as a REIT and intends to operate in the foreseeable future in such a manner so that it will remain qualified as a REIT for federal income tax purposes. Accordingly, no provision has been made for U.S. federal income taxes for the years ended December 31, 2015 , 2014 and 2013 in the accompanying consolidated financial statements. In 2015 , 2014 and 2013 , income tax expense recorded by the Company was primarily comprised of foreign income taxes related to the operation its international properties. The Company does not believe it has any uncertain tax positions or unrecognized tax benefits requiring disclosure. Redemption of Common Stock The Company complies with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 480 “Distinguishing Liabilities from Equity” which requires, among other things, that financial instruments that represent a mandatory obligation of the Company to repurchase shares be classified as liabilities and reported at settlement value. When approved, the Company will reclassify such obligations from equity to an accrued liability based upon their respective settlement values. The Company has recorded liabilities of $5.2 million and $5.5 million in accounts payable and accrued expenses in the accompanying consolidated balance sheets as of December 31, 2015 and December 31, 2014 , respectively, related to shares tendered for redemption and approved by the board of directors, but which were not redeemed until the subsequent month. Such amounts have been included in redemption of common shares in the accompanying consolidated statements of equity. Per Share Data Net income (loss) per common share is calculated by dividing the net income (loss) attributable to common stockholders for each period by the weighted average number of common shares outstanding during such period. Net income (loss) per common share on a basic and diluted basis is the same because the Company has no potentially dilutive common shares outstanding. 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 12). 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 $31.3 million and $22.1 million for the years ended December 31, 2014 and 2013 . The prior period amounts disclosed in Note 12 - 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. Reclassifications In connection with the recent amendments to the Accounting Standards Codification (“ASC” or the “Codification”) issued by the FASB regarding the presentation of debt issuance costs in financial statements, the Company reclassified deferred financing costs, excluding costs related to the Company’s revolving credit arrangements, of $11.4 million as of December 31, 2014 to notes payable, net on the consolidated balance sheet. Recent Accounting Pronouncements In May 2014, FASB issued amendments to the Codification to provide guidance on recognizing revenue from contracts with customers. The amendments also replace prior guidance regarding the recognition of revenue from sales of real estate, except for revenue from sales that are part of a sale-leaseback transaction. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the impact, if any, that the adoption of these amendments will have on its financial statements. In January 2015, the FASB issued amendments to the Codification to provide guidance on the disclosure of extraordinary items. The amendments eliminate the concept of extraordinary items from GAAP. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company does not believe the adoption of this guidance will have a material impact on the Company’s financial statements. The Company did not elect to early adopt these amendments. In February 2015, the FASB issued amendments to the Codification’s consolidation guidance which improves targeted areas of the consolidation guidance and reduces the number of consolidation models. The amendments in the Accounting Standards Update (“ASU”) are effective for annual and interim periods in fiscal years beginning after December 15, 2015, with early adoption permitted. The Company has not elected to early adopt this standard. The Company has evaluated the impact of the adoption of these amendments on its consolidated financial statements and has determined that the Operating Partnership is considered a variable interest entity (“VIE”). However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. As such, the Company does not believe this standard will have a material impact on its consolidated financial statements. In April 2015 and August 2015, the FASB issued amendments to change the prior guidance concerning the presentation of debt issuance costs in the financial statements. Under this revised guidance, an entity will present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset, except for 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. The Company elected to adopt these amendments early, effective for the year ended December 31, 2015 and retroactively reclassified the prior periods presented. See - Reclassifications above for the impact on the Company’s consolidated balance sheet. In September 2015, the FASB issued new guidance that eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company does not expect this new guidance to have a material impact on its financial statements upon adoption. In January 2016, the FASB issued new guidance intended to improve the recognition and the measurement of financial instruments. The ASU will require equity investments, excluding those investments accounted for under the equity method of accounting or those that result in consolidation of the investee, to be measured at fair value with the changes in fair value recognized in net income; will simplify the impairment assessment of those investments; will eliminate the disclosure of the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost and change the fair value calculation for those investments; will change the disclosure in other comprehensive income for financial liabilities that are measured at fair value in accordance with the fair value options for financial instruments; and will clarify that a deferred asset related to available-for-sale securities should be included in an entity's evaluation for a valuation allowance. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements. In February 2016, the FASB issued an ASU intended to improve financial reporting about leasing transactions. The ASU will require companies that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by companies that own the assets leased by the lessee (the lessor) will remain largely unchanged from current GAAP. The standard is effective for fiscal years beginning after December 15, 2018 and early adoption is permitted. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements.

Investment Property

Investment Property	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
INVESTMENT PROPERTY	INVESTMENT PROPERTY Investment property consisted of the following amounts as of December 31, 2015 and December 31, 2014 (in thousands): December 31, 2015 December 31, 2014 Buildings and improvements (1) $ 2,776,740 $ 2,501,176 Less: accumulated depreciation (200,311 ) (138,821 ) Buildings and improvements, net 2,576,429 2,362,355 Land 691,448 602,344 Investment property, net $ 3,267,877 $ 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. Recent Dispositions of Real Estate Investments In December 2015 , the Company completed the sale of 17600 Gillette for a contract sales price of $30.9 million . The property at 17600 Gillette is an office building located in the Irvine, California submarket. The Company acquired the property in June 2010 for a purchase price of $20.4 million . The Company recognized a gain on sale of this asset of $15.8 million , which was recorded in gain (loss) on sale of real estate investments on the consolidated statements of operations and comprehensive income (loss). In November 2014 , the Company completed the sale of 144 Montague for a contract sales price of 93.0 million AUD (approximately $79.3 million based on an exchange rate of $0.83 per AUD as of the transaction date). The property at 144 Montague is an office building located in the South Brisbane submarket. The Company acquired the property in April 2012 for a purchase price of 88.1 million AUD (approximately $91.3 million based on an exchange rate of $1.04 per AUD as of the transaction date). The Company recognized a gain on sale of this asset of $1.8 million , which was recorded in gain (loss) on sale of real estate investments on the consolidated statements of operations and comprehensive income (loss). In December 2014 , the Company completed the sale of Stonecutter Court for a contract sales price of £112.0 million (approximately $175.6 million based on an exchange rate of $1.57 per GBP as of the transaction date). Stonecutter Court is an office building located in London’s Central Business District. The Company acquired Stonecutter Court in March 2011 for a purchase price of £90.9 million (approximately $145.6 million based on an exchange rate of $1.60 per GBP as of the transaction date). The Company recognized a gain on sale of this asset of $61.1 million , which was recorded in gain (loss) on sale of real estate investments on the consolidated statements of operations and comprehensive income (loss). As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles was as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 894,110 $ 108,660 $ (123,124 ) Less: accumulated amortization (286,903 ) (43,083 ) 27,428 Net $ 607,207 $ 65,577 $ (95,696 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles was 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 $115.7 million , $127.2 million and $92.5 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Amortization of out-of-market leases was a decrease to rental revenue of approximately $2.8 million , $5.4 million and $6.0 million for the years ended December 31, 2015 , 2014 and 2013 , respectively. Anticipated amortization of in-place leases and out-of-market leases, net, for each of the years ending December 31, 2016 through December 31, 2020 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net 2016 $ 99,259 $ 1,274 2017 77,836 (137 ) 2018 60,508 (1,971 ) 2019 48,454 (3,332 ) 2020 38,523 (2,924 ) Leases The Company has entered into non-cancelable lease agreements with tenants for space. As of December 31, 2015 , the approximate fixed future minimum rentals for each of the years ending December 31, 2016 through 2020 and thereafter were as follows (in thousands): Fixed Future Minimum Rentals 2016 $ 332,787 2017 318,685 2018 261,922 2019 236,311 2020 210,363 Thereafter 1,272,890 Total $ 2,632,958 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 years ending December 31, 2016 through 2020 and thereafter are $3.8 million , $3.8 million , $3.6 million , $1.5 million , $1.2 million and $3.2 million , respectively. During the years ended December 31, 2015 and 2014 , the Company did not earn more than 10% of its total rental revenue from any individual tenant, respectively.

Recent Acquisitions of Real Est

Recent Acquisitions of Real Estate	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
RECENT ACQUISITIONS OF REAL ESTATE	RECENT ACQUISITIONS OF REAL ESTATE For the years ended December 31, 2015 , 2014 and 2013 , the Company acquired the assets and assumed certain liabilities of four , four , and 13 real estate operating properties located in the United States and internationally, respectively, for an aggregate net purchase price of $544.2 million , $732.9 million and $1.7 billion , respectively. In 2015, we also acquired additional phases of Simon Hegele Logistics and The Rim. 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 , 2014 and 2013 as follows (in thousands): Property Name Acquisition Building and (1) Land (1) In-place (1) Out-of- (1) Total (1) 2015 The Summit 03/04/2015 $ 217,974 $ 68,090 $ 45,360 $ (14,920 ) $ 316,504 Harder Logistics Portfolio (2) 12/03/2015 & 4/01/2015 $ 89,368 $ 16,362 $ 15,413 $ 5,392 $ 126,535 2014 The Rim (3) 02/13/2014, 04/30/2015, & $ 135,616 $ 85,240 $ 55,620 $ (28,690 ) $ 247,786 25 Cabot Square 03/28/2014 $ 165,121 $ — $ 206,640 $ (16 ) $ 371,745 Simon Hegele Logistics (4) 06/03/2014 & 01/07/2015 $ 56,428 $ 13,245 $ 9,154 $ 41 $ 78,868 818 Bourke 10/31/2014 $ 82,867 $ 36,487 $ 17,082 $ (792 ) $ 135,644 2013 Mercedes Benz Bank 02/07/2013 $ 47,643 $ 11,953 $ 7,093 $ 3,533 $ 70,222 One Westferry Circus 02/28/2013 $ 48,874 $ — $ 74,693 $ 1,049 $ 124,616 465 Victoria 02/28/2013 $ 48,788 $ 26,566 $ 17,712 $ (2,233 ) $ 90,833 Riverside Center 03/27/2013 $ 125,014 $ 45,888 $ 30,360 $ (4,170 ) $ 197,092 New City 03/28/2013 $ 115,208 $ — $ 46,117 $ 2,137 $ 163,462 825 Ann 04/30/2013 $ 83,802 $ 20,669 $ 23,725 $ — $ 128,196 The Campus at Playa Vista 05/14/2013 $ 125,567 $ 41,160 $ 37,320 $ 12,580 $ 216,627 Perspective Défense 06/21/2013 $ 109,704 $ 29,039 $ 22,038 $ 5,060 $ 165,841 The Markets at Town Center 07/23/2013 $ 76,067 $ 52,130 $ 19,020 $ (12,210 ) $ 135,007 The Avenue 08/12/2013 $ 71,990 $ 54,940 $ 47,350 $ (11,280 ) $ 163,000 2300 Main 08/29/2013 $ 27,940 $ 3,570 $ 7,990 $ — $ 39,500 Fiege Mega Centre 10/18/2013 $ 36,005 $ 10,107 $ 7,481 $ — $ 53,593 55 M Street 12/09/2013 $ 85,277 $ 24,810 $ 34,730 $ (3,940 ) $ 140,877 (1) For acquisitions denominated in a foreign currency, amounts have been translated at a rate based on the exchange rate in effect on the acquisition date. (2) In April 2015, the Company acquired two logistics buildings in the Harder Logistics Portfolio located in Nuremberg and Karlsdorf, Germany. In December 2015, the Company acquired the second phase of the portfolio, which consisted of one logistics building located in Duisburg, Germany. (3) In February 2014, the Company acquired The Rim retail center in San Antonio, Texas. In April 2015 and December 2015, the Company acquired additional phases of the center. (4) 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. The weighted average amortization period for the intangible assets and liabilities acquired in connection with the 2015 , 2014 , and 2013 acquisitions, as of the date of the 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 (1st Phase) 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 The Rim (3rd Phase) 7.8 8.5 6.5 Harder Logistics Portfolio (2nd Phase) 13.9 15.0 — 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 2013 Acquisitions: Mercedes Benz Bank 5.0 5.0 — One Westferry Circus (1) 8.4 9.9 13.1 465 Victoria 4.7 5.2 7.3 Riverside Center 6.2 1.0 6.9 New City (1) 4.8 4.3 3.0 825 Ann 9.5 — — The Campus at Playa Vista 6.7 8.6 7.1 Perspective Défense 3.8 3.8 3.8 The Markets at Town Center 9.4 0.5 7.0 The Avenue 4.1 6.8 17.2 2300 Main 5.6 — — Fiege Mega Centre 10.2 — — 55 M Street 7.1 7.8 7.3 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for these intangibles. The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the year ended December 31, 2015 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2015 (in thousands): For the Year Ended 2015 Acquisitions December 31, 2015 Simon Hegele Logistics (1) Revenue $ 5,336 Net income (loss) $ 48 The Summit Revenue $ 21,756 Net income (loss) $ 439 Harder Logistics Portfolio (2) Revenue $ 3,766 Net income (loss) $ (8,762 ) The Rim (3) Revenue $ 23,458 Net income (loss) $ 2,853 (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. 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 Harder Logistics Portfolio, including the first phase of the portfolio acquired in April 2015. The second phase of the portfolio was acquired in December 2015 and includes 677,374 square feet of net rentable area, which represents 52.7% of the net rentable area of the total Harder Logistics Portfolio. (3) 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 27.8% of the net rentable area of the total Rim facility. The third phase of the center was acquired in December 2015 and includes 28,901 square feet of net rentable area, which represents 3.1% 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 December 31, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $19.3 million and $47.5 million for the years ended December 31, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2014 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2015 Pro Forma 2014 Revenues $ 486,274 $ 491,187 Net income (loss) $ 13,854 $ 58,514 Basic and diluted income (loss) per common share $ 0.03 $ 0.20 The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the year ended December 31, 2014 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2014 (in thousands): For the Year Ended 2014 Acquisitions December 31, 2014 The Rim Revenue $ 17,240 Net income (loss) $ 369 25 Cabot Square Revenue $ 26,666 Net income (loss) $ (16,639 ) Simon Hegele Logistics Revenue $ 2,110 Net income (loss) $ (3,974 ) 818 Bourke Revenue $ 1,980 Net income (loss) $ (7,700 ) The following unaudited consolidated information is presented to give effect to 2014 acquisitions through December 31, 2014 as if the acquisitions occurred on January 1, 2013 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $47.5 million and $82.1 million for the years ended December 31, 2014 and 2013 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2013 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2014 Pro Forma 2013 Revenues $ 477,692 $ 392,489 Net income (loss) $ 56,503 $ (20,717 ) Basic and diluted income (loss) per common share $ 0.21 $ (0.11 ) The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the year ended December 31, 2013 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2013 (in thousands): For the Year Ended 2013 Acquisitions December 31, 2013 Mercedes Benz Bank Revenue $ 5,752 Net income (loss) $ (4,781 ) One Westferry Circus Revenue $ 11,938 Net income (loss) $ (6,717 ) 465 Victoria Revenue $ 7,403 Net income (loss) $ (5,576 ) Riverside Center Revenue $ 15,854 Net income (loss) $ 2,468 New City Revenue $ 11,509 Net income (loss) $ (4,167 ) 825 Ann Revenue $ 7,724 Net income (loss) $ (7,318 ) The Campus at Playa Vista Revenue $ 12,815 Net income (loss) $ 1,244 Perspective Défense Revenue $ 8,325 Net income (loss) $ (12,035 ) The Markets at Town Center Revenue $ 5,654 Net income (loss) $ 2,482 The Avenue at Murfreesboro Revenue $ 5,423 Net income (loss) $ (191 ) 2300 Main Revenue $ 1,428 Net income (loss) $ (146 ) Fiege Mega Centre Revenue $ 877 Net income (loss) $ (3,353 ) 55 M Street Revenue $ 799 Net income (loss) $ (2,501 ) The following unaudited consolidated information is presented to give effect to 2013 acquisitions through December 31, 2013 as if the acquisitions occurred on January 1, 2012 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $82.1 million and $28.7 million for the years ended December 31, 2013 and 2012 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2012 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2013 Pro Forma 2012 Revenues $ 388,133 $ 348,012 Net income (loss) $ (21,472 ) $ (31,255 ) Basic and diluted income (loss) per common share $ (0.12 ) $ (0.20 )

Real Estate Loans Receivable

Real Estate Loans Receivable	12 Months Ended
	Dec. 31, 2015
Real Estate Loans Receivable [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOANS RECEIVABLE Real estate loans receivable included the following at December 31, 2015 and 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 4,964 6,222 Falls of Town Park Apartments 12/30/2013 12/30/2015 7.75% 5,327 — 5,227 Precinct Villages (3) 3/18/2014 3/17/2016 8.50% 2,595 1,793 1,811 Manor Palms (4) 6/26/2014 12/25/2015 7.00% 4,109 — 3,979 Randall’s 7/28/2014 7/28/2017 6.25% 10,939 8,747 8,110 Finesilver 7/31/2014 7/31/2016 6.45% 7,233 5,684 5,165 Dymaxion Apartments 12/15/2014 12/15/2016 7.60% 8,500 8,288 7,684 Marbach Park Apartments 12/15/2014 12/15/2016 7.60% 9,500 9,319 7,676 7.22% $ 69,482 $ 38,795 $ 59,754 Less: Origination fees (128 ) (640 ) Total Flagship Capital JV $ 38,667 $ 59,114 Other Loans Receivable 1377 6/29/2012 7/1/2016 10.00% $ 3,962 $ 3,962 $ 3,962 The Rim (5) 9/8/2014 9/30/2016 8.50% $ 20,750 $ 12,651 $ 11,324 Total Real Estate Loans Receivable $ 55,280 $ 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 March 2016, the borrower entered into an amendment to extend the maturity date of this loan to June 30, 2016. (4) In July 2015, the borrower repaid the outstanding principal balance of the loan. (5) In December 2015, the borrower made a payment of $9.4 million , and entered into an amendment to extend the maturity date of this loan to September 30, 2016 and to reduce the total loan commitment to $20.8 million .

Debt Financing

Debt Financing	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
DEBT FINANCING	DEBT FINANCING As of December 31, 2015 and 2014 , the Company had $2.6 billion and $2.1 billion of principal outstanding, respectively, with a weighted average years to maturity of 3.3 years and 2.8 years , respectively, and a weighted average interest rate of 2.3% and 2.9% , respectively. The following table describes the Company’s debt outstanding at December 31, 2015 and 2014 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of December 31, 2015 Principal Outstanding at December 31, 2015 Principal Outstanding at December 31, 2014 Secured Mortgage Debt Brindleyplace Project 7/1/2010 7/7/2016 (1) Variable 2.01 % $ 179,197 $ 188,034 Hock Plaza 9/8/2010 12/6/2015 Fixed N/A — 75,657 Southpark 10/19/2010 12/6/2016 Fixed 5.67 % 18,000 18,000 Fifty South Sixth 11/4/2010 11/3/2018 (2) Variable 1.84 % 125,000 95,000 Gogolevsky 11 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 % 14,943 25,162 100 Brookes 7/13/2012 7/31/2017 Variable 4.61 % 31,546 35,254 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 67,601 76,797 Minneapolis Retail Center 8/2/2012 8/10/2019 Fixed 3.50 % 65,500 65,500 825 Ann 11/16/2012 11/20/2018 Variable, subject to interest rate cap 2.88 % 59,139 66,091 Mercedes Benz Bank 2/7/2013 12/31/2019 Variable, subject to interest rate cap 1.52 % 36,719 41,346 465 Victoria 2/28/2013 12/2/2018 Variable, subject to interest rate cap 3.63 % 38,831 43,396 New City 3/28/2013 3/28/2018 Variable, subject to interest rate cap 2.30 % 83,978 95,934 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 71,050 74,554 The Campus at Playa Vista (3) 5/14/2013 12/1/2018 Variable 1.65 % 150,000 115,000 Perspective Defense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.45 % 76,342 85,085 Fiege Mega Centre 10/18/2013 10/18/2018 Variable, subject to interest rate cap 1.66 % 25,135 28,373 55 M Street 12/9/2013 12/9/2017 Variable 1.88 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 183,175 192,209 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 38,940 26,106 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.86 % 64,952 74,627 The Summit 3/4/2015 3/4/2022 Variable 1.80 % 170,000 — Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 76,106 — Other Notes Payable JPMorgan Chase Revolving Credit Facility 4/13/2012 6/29/2019 Variable, subject to interest rate cap (4) 1.99 % (5) 327,000 122,894 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable, subject to interest rate cap (4) 1.98 % 495,000 378,000 WaterWall Place Construction Loan 6/29/2012 5/8/2018 Variable, subject to interest rate cap 2.02 % (5) 44,897 44,092 Aviva Coral Gables JV Construction Loan 5/10/2013 5/10/2017 Variable, subject to interest rate cap 2.66 % (5) 42,693 38,431 Total Principal Outstanding $ 2,557,744 $ 2,112,642 Unamortized Premium/ (Discount) 105 (283 ) Unamortized Deferred Financing Fees (6) (12,193 ) (11,421 ) Notes Payable $ 2,545,656 $ 2,100,938 Notes Payable to Affiliates Aviva Coral Gables Construction Loan 7/13/2012 7/13/2015 Variable N/A — 17,601 Total Notes Payable to Affiliates $ — $ 17,601 $ 2,545,656 $ 2,118,539 (1) During 2015, the Company entered into various amendments and exercised extensions, which extended the maturity date from July 7, 2015 to July 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 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. (3) In November 2015, the Company entered into an amendment to the Campus at 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. (4) 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. (5) Represents the weighted average interest rate as of December 31, 2015 . (6) Effective December 31, 2015, we adopted ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs." Amounts for prior years were reclassified to conform to the presentation for the current year. See Note 2 — Summary of Significant Accounting Policies for additional information. As of December 31, 2014 , the fixed rate debt includes $236.0 million of variable rate debt economically fixed through the use of interest rate swaps. The variable rate debt has variable interest rates ranging from LIBOR, EURIBOR or the BBSY screen rate plus 0.70% to 2.50% per annum. Additionally, as of December 31, 2015 , $982.3 million of our variable rate debt was capped at strike rates ranging from 1.3% to 4.5% . See Note 7 — Derivative Instruments for more information regarding our interest rate contracts. JP Morgan Chase Revolving Credit Facility In April 2012, the Operating Partnership entered into a credit agreement (the “Credit Agreement”) with JPMorgan Chase Bank, N.A., as administrative agent for itself and various lenders named in the Credit Agreement. The Company refers to the Revolving Loan Commitment and Term Loan Commitment collectively as the “Revolving Credit Facility.” The borrowings under the Revolving Loan Commitment may be denominated in U.S. dollars, British pound sterling, Euros, Australian dollars or Canadian dollars with aggregate foreign currency commitments constituting up to $212.5 million of the maximum amount available under the Revolving Loan Commitment. In April 2014, the Company entered into an amendment to its Revolving Credit Facility, resulting in the following changes: • an increase of the term loan commitment (the “Term Loan Commitment”) from $200.0 million to $378.0 million . • an increase of the foreign currency commitments under the revolving loan commitment (the “Revolving Loan Commitment”) to $400.0 million ; and • the removal of the $750.0 million maximum under the Revolving Loan Commitment and the $250.0 million maximum under the Term Loan Commitment. As a result of this amendment, the Company may request increases in each commitment so long as the aggregate commitments do not exceed $1.0 billion . In June 2015, the Company entered into an additional amendment to its Revolving Credit Facility, which resulted in the following changes: • an increase in total commitments to $920.0 million , consisting of a $495.0 million increase to the Term Loan Commitment and a $425.0 million increase to the Revolving Loan Commitment, • the future ability to increase the maximum amount available to $1.25 billion , subject to the Company’s satisfaction of certain conditions, and • extended the maturity date to June 29, 2019 , subject to an additional one -year extension at the Company’s option and subject to the satisfaction of certain conditions. For the period from January 2015 through December 2015 , the Company made draws of approximately $1.2 billion and payments of $891.7 million under the Revolving Credit Facility, and incurred a gain of $0.2 million through December 31, 2015 related to its borrowings on its loans denominated in a foreign currency. Additionally, from January 1, 2016 through March 28, 2016 , the Company made draws of approximately $34.0 million and payments of $15.0 million under the Revolving Credit Facility resulting in an outstanding principal balance of $841.0 million as of March 28, 2016 . Notes Payable to Affiliates In July 2012, the Aviva Coral Gables JV entered into an agreement for a variable interest rate construction loan with a maximum principal amount of $20.1 million with an affiliate of Hines related to the development of a multi-family project in Miami, Florida. In July 2015, the Company repaid the outstanding principal balance of this note payable. 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 December 31, 2015. Principal Payments on Debt The Company is required to make the following principal payments on its outstanding notes payable for each of the years ending December 31, 2016 through December 31, 2020 and for the period thereafter. Amounts are in thousands: Payments due by Year 2016 2017 2018 2019 2020 Thereafter Principal payments $ 204,952 $ 154,025 $ 527,078 $ 1,175,956 $ 255,374 $ 240,359

Derivative Instruments

Derivative Instruments	12 Months Ended
	Dec. 31, 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 11 — Fair Value Measurements for additional information regarding the fair value of our 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 11 — Fair Value Measurements for additional information regarding the fair value of our foreign currency forwards. The Company had only interest rate cap contracts active as of December 31, 2015 . The table below provides additional information regarding these interest rate cap contracts (in thousands, except percentages). Interest Rate Cap Contracts Property Effective Date Expiration Date Notional Amount (1) Interest Rate Received Pay Rate /Strike Rate Poland Logistics Portfolio August 2, 2012 June 30, 2017 $ 51,103 EURIBOR 2.00 % Poland Logistics Portfolio October 9, 2012 June 30, 2017 $ 10,649 EURIBOR 2.00 % Poland Logistics Portfolio June 30, 2017 June 28, 2019 $ 58,749 EURIBOR 2.00 % WaterWall Place January 7, 2013 June 29, 2016 $ 45,500 LIBOR 1.25 % Mercedes Benz Bank March 11, 2013 March 31, 2018 $ 36,814 EURIBOR 1.50 % 465 Victoria (2) March 20, 2013 February 29, 2016 $ 20,143 BBSW 4.33 % 825 Ann July 30, 2013 April 30, 2016 $ 44,355 BBSW 4.50 % 825 Ann April 29, 2016 November 20, 2018 $ 29,570 BBSW 3.25 % New City April 11, 2013 May 6, 2013 March 16, 2018 $ 58,624 EURIBOR 2.50 % Perspective Defense July 25, 2013 July 25, 2019 $ 76,343 EURIBOR 1.70 % (3) Fiege Mega Centre October 18, 2013 October 18, 2018 $ 25,134 EURIBOR 2.00 % Aviva Coral Gables September 5, 2014 December 5, 2016 $ 46,191 LIBOR 2.00 % (4) 818 Bourke November 27, 2014 October 27, 2017 $ 33,389 BBSY 4.00 % JP Morgan Chase Revolving Credit Facility - Revolving Loan March 27, 2015 December 27, 2016 $ 250,000 LIBOR 2.25 % JP Morgan Chase Revolving Credit Facility - Term Loan March 27, 2015 December 27, 2016 $ 250,000 LIBOR 2.25 % Harder Logistics Portfolio March 31, 2015 March 31, 2018 $ 34,097 EURIBOR 1.50 % (1) For notional amounts denominated in a foreign currency, amounts have been translated at a rate based on the exchange rate in effect on December 31, 2015 . (2) The Company entered into a new interest rate cap contract in February 2016 with an expiration date of November 30, 2018. (3) Beginning in July 2016, the strike rate of this interest rate cap will increase to 2.00% for the remaining term of the interest rate cap. (4) Beginning in January 2016, the strike rate of this interest rate cap increased to 3.25% 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 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 consolidated balance sheets, as of December 31, 2015 and December 31, 2014 (in thousands): Derivative Assets Derivative Liabilities December 31, December 31, December 31, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ — $ — $ — $ (2,684 ) Interest rate caps 675 345 — — Foreign currency forward contracts — 14,316 — (7,164 ) Total derivatives $ 675 $ 14,661 $ — $ (9,848 ) The table below presents the effects of the changes in fair value of our derivative instruments in the Company’s consolidated statements of operations and comprehensive income (loss) for the year ended December 31, 2015 , 2014 and 2013 (in thousands): Gain (Loss) on Derivative Instruments Year Ended December 31, December 31, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ 2,661 $ 4,122 $ 5,910 Interest rate caps (2,099 ) (4,131 ) (828 ) Foreign currency forward contracts — 7,331 4,827 Total gain (loss) on derivatives $ 562 $ 7,322 $ 9,909

Distributions

Distributions	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS The Company has declared distributions for the months of January 2013 through March 2016 at an amount equal to $0.0017808 per share, per day. Additionally, the Brindleyplace JV declared distributions in the amount of $3.4 million , $4.3 million and $2.8 million to Moorfield/Laser for the years ended December 31, 2015 , 2014 and 2013 , respectively, related to the operations of the Brindleyplace Project. The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for the years ended December 31, 2015 , 2014 and 2013 , 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 Years Ended Cash Distributions Distributions Reinvested Total Declared Total Declared December 31, 2015 $ 83,481 $ 93,812 $ 177,293 $ 4,221 December 31, 2014 $ 79,555 $ 91,530 $ 171,085 $ 4,668 December 31, 2013 $ 56,702 $ 63,062 $ 119,764 $ 3,331

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The table below outlines fees and expense reimbursements incurred that are payable by the Company to Hines and its affiliates for the years ended December 31, 2015 , 2014 , and 2013 and amounts unpaid as of December 31, 2015 and 2014 (in thousands): Incurred During the Years Ended December 31, Unpaid as of December 31, Type and Recipient 2015 2014 2013 2015 2014 Selling Commissions- Dealer Manager $ — $ 27,021 $ 56,259 $ — $ — Dealer Manager Fee- Dealer Manager $ — $ 9,334 $ 19,321 — — Issuer Costs- the Advisor $ 61 $ 1,975 $ 7,137 — — Acquisition Fee (1) - the Advisor and affiliates of Hines $ 8,797 $ 18,188 $ 40,136 — 1,492 Asset Management Fee- the Advisor and affiliates of Hines $ 35,725 $ 34,881 $ 20,354 8,493 8,402 Disposition Fee- the Advisor $ 309 $ 2,543 $ — 309 — Other (2) $ 6,768 $ 6,713 $ 5,216 1,574 1,657 Property Management Fee- Hines $ 7,518 $ 6,680 $ 5,599 (12 ) 159 Development/ Construction Management Fee- Hines $ 132 $ 2,556 $ 4,010 27 35 Leasing Fee - Hines $ 4,446 $ 2,138 $ 3,371 3,417 1,363 Redevelopment Construction Management- Hines $ — $ 9 $ — — — Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 11,098 $ 10,777 $ 7,074 661 998 Due to Affiliates $ 14,469 $ 14,106 (1) As described below, effective as of April 1, 2015, the Company, the Operating Partnership and the Advisor amended the Advisory Agreement in order to reduce the acquisition fee rate paid to the Advisor from 2.25% to 0.50% . (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 these construction loans. 1377 Development In June 2012, the Company entered into a $3.2 million mezzanine loan commitment plus accrued interest to provide construction financing to the 1377 development, which is being developed by an affiliate of Hines. As of December 31, 2015 and December 31, 2014 , $4.0 million and $4.0 million , respectively were outstanding under the mezzanine loan, respectively. See Note 1 — Organization for additional information concerning the 1377 development and the mezzanine loan. Dealer Manager Agreement In connection with the Company’s two prior public offerings of primary shares, the second of which closed in April 2014, the Dealer Manager received a selling commission of up to 7.5% of gross offering proceeds and a dealer manager fee of up to 2.5% of gross offering proceeds, both of which were recorded as an offset to additional paid-in-capital in the Company’s financial statements. Pursuant to separately negotiated agreements, the Dealer Manager reallowed up to 7.0% of gross proceeds as a selling commission and up to 1.5% of gross proceeds from its dealer manager fee as a marketing fee to broker-dealers participating in the Company’s public offerings. The Dealer Manager paid broker-dealers up to an additional 1.0% of the gross offering proceeds as reimbursements for distribution and marketing-related costs and expenses. No selling commissions or dealer manager fees were or will be paid for sales under the Company’s distribution reinvestment plan. Advisory Agreement Pursuant to the Advisory Agreement, the Company is required to pay the following fees and expense reimbursements: Acquisition Fee – Prior to April 2012, the Advisor received an acquisition fee equal to 2.0% of (i) the purchase price of each real estate investment the Company acquired or originated, including any debt attributable to such investments or the principal amounts of any loans originated directly by the Company and (ii) with respect to indirect investments through another entity, such entity’s pro rata share of the gross asset value of all real estate investments held by such entity. In March 2012, the Advisory Agreement was amended to increase the acquisition fee to 2.25% of these amounts. Effective as of April 1, 2015, the Advisory Agreement was further amended in order to reduce the acquisition fee paid to the Advisor from 2.25% to 0.50% of these amounts. Asset Management Fee – The Advisor receives an asset management fee equal to 0.125% per month of the net equity capital invested by the Company in real estate investments as of the end of each month. In April 2012, the Advisor agreed to waive the asset management fee otherwise payable to it pursuant to the Advisory Agreement for each quarter in 2012 and 2013, to the extent that the Company’s modified funds from operations (“MFFO”) for a particular quarter, as disclosed in each of its quarterly reports, amounts to less than 100% of the aggregate distributions declared for such quarter. As a result of these waivers, the Advisor waived $12.2 million of asset management fees payable to it for these periods, in aggregate. These fee waivers are not deferrals and accordingly, these fees will not be paid to the Advisor in cash at any time in the future. Additionally, the Advisor agreed to waive asset management fees otherwise payable to it for the years ended December 31, 2015 and 2014, respectively, to the extent that our MFFO for the years ended December 31, 2014 and 2015, as disclosed in our Annual Report on Form 10-K for such years, amounted to less than 100% of the aggregate distributions declared to our stockholders for such years. However, because MFFO exceeded distributions declared to the Company’s stockholders for the years ended December 31, 2015 and 2014, the Advisor did not waive any asset management fees. During the years ended December 31, 2015 , 2014 and 2013 , the Company incurred asset management fees of $35.7 million , $34.9 million and $20.4 million , respectively. Disposition Fee – The Advisor or its affiliates also will be paid a disposition fee of 1.0% of the sales price of any real estate investments sold or 1.0% of the Company’s pro rata share of the sales price with respect to the Company’s indirect investments. As of December 31, 2014 , the Company incurred $2.5 million in disposition fees as a result of its dispositions of 144 Montague and Stonecutter Court. As of December 31, 2015 , the Company incurred $0.3 million in disposition fees as a result of its disposition of 17600 Gillette. Special OP Units –Hines Global REIT Associates Limited Partnership, an affiliate of Hines, owns the special units of the Operating Partnership (“Special OP Units”), which entitle them to receive distributions in an amount equal to 15% of distributions, including from sales of real estate investments, refinancings and other sources, but only after the Company’s stockholders have received, or are deemed to have received, in the aggregate, cumulative distributions equal to their invested capital plus an 8.0% cumulative, non-compounded annual pre-tax return on such invested capital. At the sole discretion of the Advisor, the acquisition fees, asset management fees, debt financing fees and disposition fees are payable, in whole or in part, in cash or units of the Operating Partnership (“OP Units”). For the purposes of the payment of these fees, each OP Unit will be valued at the per-share offering price of the Company’s common stock in its most recent public offering less selling commissions and dealer manager fees. Upon the Advisor’s request, each OP unit can be repurchased for cash or can be converted into one share of the Company’s common stock. The decision to redeem each OP unit for cash or shares is at the Company’s option except in certain circumstances such as the Company’s decision to list its shares on a national securities exchange, a liquidation event or upon termination or nonrenewal of the Advisory Agreement for any reason other than by the Advisor. The Company will recognize the expense related to these OP Units as the related service is performed, as each OP Unit will be fully vested upon issuance. The Company reimburses the Advisor for all expenses paid or incurred by the Advisor in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse the Advisor for any amount by which its operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of: (A) 2% of its average invested assets, or (B) 25% of its net income determined without reduction for any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of the Company’s assets for that period. Notwithstanding the above, the Company may reimburse the Advisor for expenses in excess of this limitation if a majority of the independent directors determines that such excess expenses are justified. In addition, as described in Note 2 – Summary of Significant Accounting Policies – Issuer Costs, the Company reimburses the Advisor for any issuer costs paid on its behalf. However, the total compensation related to issuer costs, selling commissions and dealer manager fees may not exceed 15% of gross proceeds from the Offering. Property Management and Leasing Agreements The Company pays Hines fees for the management and leasing of some of its properties. Property management fees are equal to a market-based percentage of the gross revenues of the properties managed by Hines or the amount of property management fees recoverable from tenants of the properties managed by Hines under their leases. In addition, if Hines provides leasing services with respect to a property, the Company will pay Hines leasing fees which are usual and customary for that type of property in that geographic area. The Company generally will be required to reimburse Hines for certain operating costs incurred in providing property management and leasing services pursuant to the property management and leasing agreements. Included in this reimbursement of operating costs will be the cost of personnel and overhead expenses related to such personnel located at the property as well as off-site personnel located in Hines’ headquarters and regional offices, to the extent the same relate to or support the performance of Hines’ duties under the agreement. Hines may perform construction management services for the Company for both re-development activities and tenant construction. These fees are considered incremental to the construction effort and will be capitalized to the associated real estate project as incurred. Costs related to tenant construction will be depreciated over the estimated useful life. Costs related to redevelopment activities will be depreciated over the estimated useful life of the associated project. Leasing activities will generally be performed by Hines on the Company’s behalf. Leasing fees will be capitalized and amortized over the life of the related lease. Generally, as compensation for providing development management services, Hines will be paid a fee equal to 3% of the development project costs and as compensation for providing construction management services, an affiliate of Hines also will be paid a contractor’s fee of 5% of the total construction costs of the project.

Noncontrolling Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2015
Noncontrolling Interest [Abstract]
NONCONTROLLING INTERESTS	NONCONTROLLING INTERESTS In December 2012, the Brindleyplace JV issued 2.5 million Series B3 Convertible Preferred Equity Certificates (“CPEC”)to Moorfield as a result of their £2.5 million contribution ( $4.1 million based on the exchange rate in effect on the date of contribution). Each CPEC is convertible into one capital share of the Brindleyplace JV at any time. The CPECs may be redeemed at the option of the Brindleyplace JV any time prior to the earlier of the liquidation of the Brindleyplace Project or their expiration on July 7, 2059 . If redeemed, they will be redeemed at a price of £1 per CPEC, plus any accrued and unpaid distributions thereon. However, the Brindleyplace JV may elect to satisfy any redemption request through the issuance of one capital share per CPEC. In December 2013, the Brindleyplace JV issued 1.2 million Series B3 CPEC to Moorfield as a result of their £1.2 million contribution ( $2.0 million based on the exchange rate in effect on the date of contribution). In December 2014, the Brindleyplace JV issued 1.3 million Series B3 CPEC to Moorfield as a result of their £1.3 million contribution ( $2.0 million based on the exchange rate in effect on the date of contribution). Distributions are declared and paid quarterly to Moorfield/Laser based on the distributable income of the Brindleyplace Project and payment of the distributions will be subject to the approval of the board of directors of the Brindleyplace JV. During the years ended December 31, 2015 , 2014 and 2013 , respectively, the Brindleyplace JV declared $3.4 million , $4.3 million and $2.8 million of preferred dividends to Moorfield/Laser related to the CPECs. These amounts were included in the net (income) loss attributable to noncontrolling interests in the accompanying consolidated statements of operations and comprehensive income (loss) and offsets net income of $2.3 million and $1.5 million and net losses of $0.3 million that was attributable to Moorfield/Laser during the years ended December 31, 2015 , 2014 , and 2013 , respectively, related to the results of operations of the Brindleyplace JV. During the years ended December 31, 2014 and 2013 the noncontrolling interest partner in the Flagship JV, contributed $0.4 million and $0.6 million respectively to the Flagship Capital JV. In accordance with the partnership agreement that governs the joint venture, distributions are declared and paid when the joint venture has available cash (all cash held by the joint venture less what is reasonably needed to reserve or satisfy cash needs) with respect to an investment made by the joint venture. The Flagship Capital JV declared distributions to the noncontrolling interest partner for the years ended December 31, 2015 , 2014 , and 2013 of $0.2 million , $0.3 million , and $0.5 million , respectively. See Note 1 — Organization for additional information regarding the Flagship Capital JV. During the year ended December 31, 2015 , the noncontrolling interest partner contributed $1.0 million to the Aviva Coral Gables JV, for the funding of the repayment of the construction loan to Hines. The Aviva Coral Gables JV declared distributions to the noncontrolling interest partner for the year ended December 31, 2015 of $0.2 million See Note 1 — Organization for additional information regarding the Aviva Coral Gables JV. During the year ended December 31, 2014 , the noncontrolling interest partner, an affiliate of Hines, contributed $1.5 million to the WaterWall Place JV, for the funding of the repayment of the construction loan to Hines. See Note 1 — Organization for additional information regarding the WaterWall Place JV.

Fair Value Measurements

Fair Value Measurements	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability, such as interest rates and yield curves observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In instances in which the inputs used to measure fair value may fall into different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety has been determined is based on the lowest level input significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Financial Instruments Measured on a Recurring Basis 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, Landesbank Baden-Württemberg, Commonwealth Bank of Australia, Deutsche Pfandbriefbank AG, Crédit Agricole, SMBC Capital Markets, BMO Capital Markets, ING Capital Markets, and the Australia and New Zealand Banking Group Limited. 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 December 31, 2015 and 2014 , 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 December 31, 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) December 31, 2015 Interest rate swaps $ — $ — $ — $ — Interest rate caps $ 675 $ — $ 675 $ — 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 ) $ — Financial Instruments Fair Value Disclosures As of December 31, 2015 , the Company estimated that the fair value of its notes payable, which had a book value (excluding any unamortized discount or premium and deferred financing costs) of $2.6 billion , was $2.6 billion . As of December 31, 2014 , the Company estimated that the fair value of its notes payable, which had a book value (excluding any unamortized discount or premium) of $2.1 billion , was $2.1 billion . Management has utilized available market information, such as interest rate and spread assumptions of notes payable with similar terms and remaining maturities, 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 December 31, 2015 and 2014 , 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 December 31, 2015 and 2014 , the Company estimated that the book values of its real estate loans receivable approximated 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 December 31, 2015 and 2014 , 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, 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 inputs are utilized to estimate the fair value of the cash and cash equivalents and restricted cash and Level 2 inputs are utilized to estimate the fair value of the remaining 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 fair value methodologies used to measure long-lived assets are described in Note 2 — Summary of Significant Accounting Policies — Investment Property and Lease Intangibles. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. There were no events during the years ended December 31, 2015 , 2014 and 2013 which indicated that fair value adjustments of our long-lived assets were necessary.

Reportable Segments

Reportable Segments	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company’s real estate investments 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. • Domestic office investments ( 11 investments) • Domestic other investments ( 10 investments) • International office investments ( 10 investments) • International other investments ( 12 investments) The tables below provide additional information related to each of the Company’s segments, geographic location 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 are in thousands, except for percentages): Years Ended December 31, 2015 2014 2013 Total Revenue Domestic office investments $ 168,962 $ 145,941 $ 114,480 Domestic other investments 119,083 104,753 62,407 International office investments 123,010 140,119 90,415 International other investments 65,818 65,451 55,560 Total Revenue $ 476,873 $ 456,264 $ 322,862 For the years ended December 31, 2015 , 2014 and 2013 , the Company’s total revenue was attributable to the following countries: Years Ended December 31, 2015 2014 2013 United States 60 % 55 % 55 % United Kingdom 17 % 19 % 15 % Australia 8 % 8 % 10 % Poland 5 % 7 % 9 % Russia 3 % 5 % 6 % France 3 % 3 % 3 % Germany 4 % 3 % 2 % For the years ended December 31, 2015 , 2014 and 2013 , the Company’s property revenues in excess of expenses by segment was as follows: Years Ended December 31, 2015 2014 2013 Property revenues in excess of expenses (1) Domestic office investments $ 107,116 $ 91,932 $ 72,547 Domestic other investments 76,835 67,297 39,413 International office investments 97,644 114,586 73,226 International other investments 45,608 45,348 35,583 Total property revenues in excess of expenses $ 327,203 $ 319,163 $ 220,769 (1) Revenues less property operating expenses, real property taxes and property management fees. For the years ended December 31, 2015 and 2014 , the Company’s total assets by segment was as follows: Years Ended December 31, 2015 2014 Total Assets Domestic office investments $ 1,503,926 $ 1,225,705 Domestic other investments 1,082,241 1,039,962 International office investments 1,090,483 1,232,534 International other investments 650,168 555,636 Corporate-level accounts 46,128 61,336 Total Assets $ 4,372,946 $ 4,115,173 For the years ended December 31, 2015 and 2014 , the Company’s total assets were attributable to the following countries: Years Ended December 31, 2015 2014 United States 60 % 56 % United Kingdom 16 % 18 % Australia 7 % 9 % Poland 6 % 7 % Russia 1 % 2 % France 3 % 4 % Germany 7 % 4 % For the years ended December 31, 2015 , 2014 and 2013 the Company’s reconciliation to the Company’s net loss is as follows: Years Ended December 31, 2015 2014 2013 Reconciliation to net income (loss) Total property revenues in excess of expenses $ 327,203 $ 319,163 $ 220,769 Depreciation and amortization (186,965 ) (193,870 ) (140,187 ) Acquisition related expenses (10,472 ) (29,278 ) (42,747 ) Asset management and acquisition fees (44,522 ) (53,069 ) (60,490 ) General and administrative expenses (8,597 ) (6,782 ) (5,344 ) Gain (loss) on derivatives 562 7,322 9,909 Gain (loss) on sale of real estate investments 14,684 64,003 — Foreign currency gains (losses) (21,468 ) (13,074 ) (6,458 ) Interest expense (71,288 ) (78,273 ) (60,968 ) Interest income 427 506 454 Benefit (provision) for income taxes (4,518 ) (5,806 ) (701 ) Net income (loss) $ (4,954 ) $ 10,842 $ (85,763 )

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the years ended December 31, 2015 , 2014 , and 2013 (in thousands): 2015 2014 2013 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 66,704 $ 66,592 $ 53,942 Cash paid for income taxes $ 6,696 $ 4,161 $ 4,742 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 19,837 $ 17,558 $ 14,143 Other receivables $ 5 $ — $ 5,441 Distributions reinvested $ 93,785 $ 90,198 $ 60,585 Shares tendered for redemption $ 5,245 $ 5,505 $ 2,287 Non-cash net liabilities acquired $ 10,516 $ 2,737 $ 12,867 Accrued additions to investment property $ 883 $ 2,373 $ 8,538

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 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 December 31, 2015 , $11.4 million of the Company’s commitment remained unfunded and is recorded in accounts payable and accrued expenses in the accompanying consolidated balance sheet. 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 consolidated financial statements.

Quarterly Financial Data (Unaud

Quarterly Financial Data (Unaudited)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data [Abstract]
QUARTERLY FINANCIAL DATA (UNAUDITED)	QUARTERLY FINANCIAL DATA (UNAUDITED) The following table presents selected unaudited quarterly financial data for each quarter during the years ended December 31, 2015 and 2014 (in thousands except per share amounts): Quarters Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 113,079 $ 119,683 $ 119,533 $ 124,578 Gain (loss) on sale of real estate investments $ (1,127 ) $ — $ 55 $ 15,756 Net income (loss) $ (13,908 ) $ (420 ) $ 2,153 $ 7,221 Net (income) loss attributable to noncontrolling interests $ (1,170 ) $ (2,063 ) $ (1,086 ) $ (1,358 ) Net income (loss) attributable to common stockholders $ (15,078 ) $ (2,483 ) $ 1,067 $ 5,863 Income (loss) per common share, basic and diluted $ (0.06 ) $ (0.01 ) $ — $ 0.02 Quarters Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 105,123 $ 117,840 $ 117,705 $ 115,596 Gain (loss) on sale of real estate investments $ — $ — $ — $ 64,003 Net income (loss) $ (35,442 ) $ (9,483 ) $ 4,178 $ 51,589 Net (income) loss attributable to noncontrolling interests $ (947 ) $ (1,097 ) $ (964 ) $ (2,756 ) Net income (loss) attributable to common stockholders $ (36,389 ) $ (10,580 ) $ 3,214 $ 48,833 Income (loss) per common share, basic and diluted $ (0.15 ) $ (0.04 ) $ 0.01 $ 0.18

Schedule II - Valuation and Qua

Schedule II - Valuation and Qualifying Accounts	12 Months Ended
	Dec. 31, 2015
Valuation and Qualifying Accounts [Abstract]
Schedule II - Valuation and Qualifying Accounts	Schedule II — Valuation and Qualifying Accounts Description Balance at the Beginning of the Period Charged to Costs and Expenses Deductions (a) Balance at the End of the Period (amounts in thousands) Allowance for Doubtful Accounts as of December 31, 2015 $ 1,872 $ 558 $ (764 ) $ 1,666 Allowance for Doubtful Accounts as of December 31, 2014 $ 2,011 $ 841 $ (980 ) $ 1,872 Allowance for Doubtful Accounts as of December 31, 2013 $ 330 $ 2,105 $ (424 ) $ 2,011 (a) Write-offs of accounts receivable previously reserved.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2015
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Schedule III - Real Estate Assets and Accumulated Depreciation	Schedule III — Real Estate Assets and Accumulated Depreciation December 31, 2015 Initial Cost (b) Gross Amount at Which Carried at 12/31/2015 Description (a) Location Encumbrances Land Buildings and Improvements Total Costs Capitalized Subsequent to Acquisition (c) Land Buildings and Improvements Total (d) Accumulated Depreciation (e) Date of Construction Date Acquired Brindleyplace Project Birmingham, United Kingdom 179,197 — 207,592 207,592 13,962 — 221,554 221,554 (29,490 ) 1997 - 2000 July - 10 Hock Plaza Durham, North Carolina — 1,220 69,704 70,924 — 1,220 69,704 70,924 (9,262 ) 2004 September - 10 Southpark Austin, Texas 18,000 3,920 20,507 24,427 — 3,920 20,507 24,427 (2,667 ) 2001 October - 10 Fifty South Sixth Minneapolis, Minnesota 125,000 1,390 134,262 135,652 670 1,390 134,932 136,322 (17,434 ) 2001 November - 10 FM Logistic Moscow, Russia — 5,320 51,588 56,908 (34,076 ) 2,127 20,705 22,832 (2,419 ) 1998 - 2004 April - 11 Gogolevsky 11 Moscow, Russia — — 85,126 85,126 (49,664 ) — 35,462 35,462 (4,375 ) 1996 August - 11 250 Royall Canton, Massachusetts — 8,910 22,860 31,770 — 8,910 22,860 31,770 (2,464 ) 2005 September - 11 Campus at Marlborough Marlborough, Massachusetts — 23,790 54,230 78,020 1,335 23,310 56,045 79,355 (5,799 ) 1999 October - 11 Komo Plaza Seattle, Washington — 19,560 111,182 130,742 4,507 19,560 115,689 135,249 (11,640 ) 2000 - 2003 December - 11 9320 Excelsior Hopkins, Minnesota — 2,730 51,110 53,840 — 2,730 51,110 53,840 (5,128 ) 2010 December - 11 WaterWall Place Houston, Texas 44,897 8,229 54,825 63,054 1 8,229 54,826 63,055 (2,854 ) 2012 December - 11 Aviva Coral Gables Miami, Florida 42,693 12,112 48,892 61,004 1,016 12,326 49,694 62,020 (1,410 ) 2012 July - 12 Poland Logistics Portfolio Upper Silesia, Warsaw and Wroclaw, Poland 67,601 25,893 97,627 123,520 (20,531 ) 20,720 82,269 102,989 (7,423 ) 1995 - 2009 March - 12 & October - 12 100 Brookes Street Brisbane, Australia 31,546 8,600 41,404 50,004 (14,054 ) 6,174 29,776 35,950 (2,580 ) 2008 July - 12 Minneapolis Retail Center Minneapolis, Minnesota 65,500 30,792 78,711 109,503 1,970 30,792 80,681 111,473 (6,803 ) 1974 August - 12 & December - 12 550 Terry Francois San Francisco, California — 41,270 109,760 151,030 — 41,270 109,760 151,030 (9,182 ) 2002 August - 12 Mercedes Benz Bank Stuttgart, Germany 36,719 11,953 47,643 59,596 (11,351 ) 9,630 38,615 48,245 (2,798 ) 2003 February - 13 One Westferry Circus London, England 71,050 — 48,874 48,874 (468 ) — 48,406 48,406 (3,467 ) 1992 February - 13 465 Victoria Sydney, Australia 38,831 26,566 48,788 75,354 (21,364 ) 18,930 35,060 53,990 (2,480 ) 1995 February - 13 Riverside Center Boston, Massachusetts — 45,888 125,014 170,902 288 45,888 125,302 171,190 (8,647 ) 2000 March - 13 New City Warsaw, Poland 83,978 — 115,208 115,208 (19,330 ) — 95,878 95,878 (6,624 ) 2010 March - 13 825 Ann Brisbane, Australia 59,139 20,669 83,802 104,471 (30,530 ) 14,611 59,330 73,941 (3,953 ) 2013 April - 13 The Campus at Playa Vista Los Angeles, California 150,000 41,160 125,567 166,727 65 41,160 125,632 166,792 (8,411 ) 2009-2010 May - 13 Perspective Defense Paris, France 76,342 29,039 109,704 138,743 (23,325 ) 24,157 91,261 115,418 (5,900 ) 2007 June - 13 The Markets at Town Center Jacksonville, Florida — 52,130 76,067 128,197 — 52,130 76,067 128,197 (4,647 ) 2009 July - 13 Initial Cost (b) Gross Amount at Which Carried at 12/31/2015 Description (a) Location Encumbrances Land Buildings and Improvements Total Costs Capitalized Subsequent to Acquisition (c) Land Buildings and Improvements Total (d) Accumulated Depreciation (e) Date of Construction Date Acquired The Avenue Nashville, Tennessee — 54,940 71,990 126,930 — 54,940 71,990 126,930 (4,300 ) 2007 August - 13 2300 Main Irvine, California — 3,570 27,940 31,510 — 3,570 27,940 31,510 (1,636 ) 2002 August - 13 Fiege Mega Centre Erfurt, Germany 25,135 10,107 36,005 46,112 (9,320 ) 8,060 28,732 36,792 (1,586 ) 1995 October - 13 55 M Street Washington, D.C. 72,000 24,810 85,277 110,087 541 24,810 85,818 110,628 (4,432 ) 2009 December - 13 The Rim San Antonio, Texas — 85,240 132,855 218,095 3,146 85,240 136,001 221,241 (4,911 ) 2006-2014 February - 14, April - 15, & December - 15 25 Cabot Square London, England 183,175 — 165,121 165,121 (14,056 ) — 151,065 151,065 (6,525 ) 1991 March - 14 Simon Hegele Logistics Forchheim, Germany 38,940 13,245 56,428 69,673 (11,053 ) 11,113 47,507 58,620 (1,590 ) 2012-2014 June - 14 & January - 15 818 Bourke Melbourne, Australia 64,952 36,487 82,867 119,354 (21,267 ) 29,930 68,157 98,087 (1,984 ) 2008 October - 14 Summit Bellevue, Washington 170,000 68,090 217,974 286,064 210 68,089 218,185 286,274 (4,645 ) 2002, 2005 March - 15 Harder Logistics Portfolio Nuremberg, Karlsdorf, and Duisburg, Germany 76,106 16,362 89,368 105,730 1,002 16,512 90,220 106,732 (845 ) 2003, 2010, 2015 April - 15 & December - 15 $ 1,720,801 $ 733,992 $ 2,985,872 $ 3,719,864 $ (251,676 ) $ 691,448 $ 2,776,740 $ 3,468,188 $ (200,311 ) (a) Assets consist of quality office, mixed-use and retail properties, industrial/distribution facilities and multi-family development. (b) Components of initial cost for properties acquired using a foreign currency were converted using the currency exchange rate as of the date of acquisition. (c) Includes the effect of changes in the exchange rate between the date of acquisition and December 31, 2015 for properties that are denominated in a foreign currency. (d) The aggregate cost for federal income tax purposes is $3.6 billion as of December 31, 2015 . (e) Real estate assets are depreciated or amortized using the straight-line method over the useful lives of the assets by class. The estimated useful lives for computing depreciation are generally 10 years for furniture and fixtures, 15 - 20 years for electrical and mechanical installations and 40 years for buildings. The changes in total real estate assets for the years ended December 31, (in thousands): 2015 2014 2013 Gross real estate assets Balance, beginning of period $ 3,103,520 $ 2,894,264 $ 1,529,675 Additions during the period: Acquisitions 479,628 484,499 1,322,485 Other additions 10,905 45,879 61,259 Disposals of fully-depreciated assets (38 ) (23 ) — Costs of real estate sold (10,101 ) (139,539 ) — Effect of changes in foreign currency exchange rates (115,726 ) (181,560 ) (19,155 ) Balance, end of period $ 3,468,188 $ 3,103,520 $ 2,894,264 Accumulated Depreciation Balance, beginning of period $ (138,821 ) $ (94,414 ) $ (47,197 ) Depreciation (68,722 ) (64,846 ) (46,973 ) Effect of changes in foreign currency exchange rates 6,184 9,573 (244 ) Disposals of fully-depreciated assets 38 23 — Retirement or sales of assets 1,010 10,843 — Balance, end of period $ (200,311 ) $ (138,821 ) $ (94,414 )

Schedule IV - Mortgage Loans on

Schedule IV - Mortgage Loans on Real Estate	12 Months Ended
	Dec. 31, 2015
Mortgage Loans on Real Estate [Abstract]
Schedule IV - Mortgage Loans on Real Estate	Schedule IV — Mortgage Loans on Real Estate December 31, 2015 (amounts in thousands) Description Location Interest Rate Final Maturity Date Periodic Payment Terms Prior Liens Face Amount of Mortgages Carrying Amount of Mortgages (a) Construction Loans: Multi-family 1377 Atlanta, GA 10.00 % 7/1/2016 Monthly interest- only payments — 3,962 3,962 Falls of Kirkwood Houston, TX 8.00 % 8/15/2016 Monthly payments of principal and interest based on a 30-year amortization schedule — 6,300 4,964 Dymaxion Apartments San Antonio, TX 7.60 % 12/15/2016 Monthly interest- only payments for first year; then amortizes based on a 25-year amortization schedule. — 8,500 8,288 Marbach Park Apartments San Antonio, TX 7.60 % 12/15/2016 Monthly interest- only payments for first year; then amortizes based on a 25-year amortization schedule. — 9,500 9,319 Office Finesilver San Antonio, TX 6.45 % 7/31/2016 Monthly interest- only payments for first year; then amortizes based on a 25-year amortization schedule. — 7,233 5,684 Shopping Centers Precinct Villages North Richland Hills, TX 8.50 % 3/17/2016 Monthly interest- only payments for first year; then amortizes based on a 25-year amortization schedule. — 2,595 1,793 Randalls Pasadena and Friendswood, TX 6.25 % 7/28/2017 Monthly interest- only payments for first 18-months; then amortizes based on a 25-year amortization schedule. — 10,939 8,747 The Rim San Antonio, TX 8.50 % 9/30/2016 Monthly interest- only payments — 20,750 (b) 12,651 $ — $ 69,779 $ 55,408 (a) The aggregate cost for federal income tax purposes is $55.4 million as of December 31, 2015 . (b) In December 2015, the borrower made a payment of $9.4 million , and entered into an amendment to extend the maturity date of this loan to September 30, 2016 and to reduce the total loan commitment to $20.8 million . Changes in mortgage loans on real estate are summarized below (in thousands): 2015 2014 2013 Balance at beginning of period $ 75,040 $ 43,591 $ 35,124 Additions during period: New loans — 45,680 18,633 Additional advances on existing loans 13,183 4,736 1,389 Interest income added to principal 754 525 842 Deductions during period: Collection of principal (33,569 ) (19,492 ) (12,397 ) Balance at close of period $ 55,408 $ 75,040 $ 43,591

Summary of Significant Accoun25

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Use of Estimates	Use of Estimates The Company’s consolidated financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). The preparation of the consolidated financial statements requires the Company to make estimates and judgments that affect the reported amounts of assets, liabilities and contingencies as of the date of the financial statements and the reported amounts of revenues and expenses during the reporting periods. The Company evaluates its assumptions and estimates on an ongoing basis. The Company bases its estimates on historical experience and on various other assumptions that the Company believes to be reasonable under the circumstances. Additionally, application of the Company’s accounting policies involves exercising judgments regarding assumptions as to future uncertainties. Actual results may differ from these estimates under different assumptions or conditions.
Basis of Presentation	Basis of Presentation The consolidated financial statements of the Company include the accounts of Hines Global REIT, Inc., the Operating Partnership and its wholly-owned subsidiaries and the joint ventures as well as amounts related to noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. The Company has retroactively changed, for all periods presented, its classification of distributions in the consolidated balance sheet and statement of equity by reflecting such distributions as charges against “accumulated distributions in excess of earnings.” This presentation change had no impact on the balances in total equity in any of the periods presented. The Company evaluates the need to consolidate joint ventures in accordance with GAAP. In accordance with GAAP, the Company will consolidate joint ventures that are determined to be variable interest entities for which it is the primary beneficiary. Further, partially owned real estate joint ventures over which the Company has a controlling financial interest are consolidated in its financial statements. In determining if the Company has a controlling financial interest, it considers factors such as ownership interest, authority to make decisions, kick-out rights and substantive participating rights. Management continually analyzes and assesses reconsideration events, including changes in these factors, to determine if the consolidation treatment remains appropriate. Partially owned real estate joint ventures where the Company does not have a controlling financial interest, but has the ability to exercise significant influence, are accounted for using the equity method. The Company’s investments in partially owned real estate joint ventures are reviewed for impairment periodically if events or circumstances change indicating that the carrying amount of its investments may not be recoverable. In such an instance, the Company will record an impairment charge if it determines that a decline in the value of an investment below its fair value is other than temporary. The Company’s analysis will be dependent on a number of factors, including the performance of each investment, current market conditions, and its intent and ability to hold the investment to full recovery. Based on the Company’s analysis of the facts and circumstances at each reporting period, no impairment was recorded related to its investments in unconsolidated, partially owned real estate joint ventures for the years ended December 31, 2015 , 2014 , and 2013 . However, if market conditions deteriorate in the future and result in lower valuations or reduced cash flows of the Company’s investments, impairment charges may be recorded in future periods.
International Operations	International Operations The British pound (“GBP”) is the functional currency for the Company’s subsidiaries operating in the United Kingdom, the Russian rouble (“RUB”) is the functional currency for the Company’s subsidiaries operating in Russia, the Polish zloty (“PLN”) is the functional currency for the Company’s subsidiaries operating in Poland, the Australian dollar (“AUD”) is the functional currency for the Company’s subsidiaries operating in Australia and the Euro (“EUR”) is the functional currency for the Company’s subsidiaries operating in Germany and France. These subsidiaries have translated their financial statements into U.S. dollars for reporting purposes. Assets and liabilities are translated at the exchange rate in effect as of the balance sheet date while income statement accounts are translated using the average exchange rate for the period and significant nonrecurring transactions using the rate on the transaction date. Gains or losses resulting from translation are included in accumulated other comprehensive income (loss) within stockholders’ equity. Foreign currency transaction gains and losses are recorded in foreign currency gains (losses) on the consolidated statement of operations and result from the effect of changes in exchange rates on transactions denominated in currencies other than a subsidiary’s functional currency, including transactions between consolidated subsidiaries. An exception is made where an intercompany loan or advance is deemed to be of a long-term investment nature, in which instance foreign currency transaction gains or losses are included as currency translation adjustments and are reported in the consolidated statement of equity as accumulated other comprehensive gains or losses.
Investment Property and Lease Intangibles	Investment Property and Lease Intangibles Real estate assets acquired by the Company are stated at fair value at the date of acquisition less accumulated depreciation. Depreciation is computed using the straight-line method. The estimated useful lives for computing depreciation are generally 10 years for furniture and fixtures, 15 - 20 years for electrical and mechanical installations and 40 years for buildings. Major replacements that extend the useful life of the assets are capitalized and maintenance and repair costs are expensed as incurred. Acquisitions of properties are accounted for utilizing the acquisition method and, accordingly, are recorded at the estimated fair values of the assets acquired and liabilities assumed. The results of operations of acquired properties are included in the Company’s results of operations from their respective dates of acquisition. Estimates of fair values are based upon estimates of future cash flows and other valuation techniques that the Company believes are similar to those used by market participants and are used to record the purchase of identifiable assets acquired, such as land, buildings and improvements, equipment and identifiable intangible assets related to in-place leases and liabilities assumed, such as amounts related to acquired out-of-market leases, asset retirement obligations, mortgage notes payable. Values of buildings and improvements are determined on an as if vacant basis. Initial valuations are subject to change until such information is finalized, no later than 12 months from the acquisition date. Acquisition-related costs such as transaction costs and acquisition fees paid to the Advisor are expensed as incurred. The estimated fair value of acquired in-place leases are the costs the Company would have incurred to lease the properties to the occupancy level of the properties at the date of acquisition. Such estimates include the fair value of leasing commissions, legal costs and other direct costs that would be incurred to lease the properties to such occupancy levels. Additionally, the Company evaluates the time period over which such occupancy levels would be achieved. Such evaluation will include an estimate of the net market-based rental revenues and net operating costs (primarily consisting of real estate taxes, insurance and utilities) that would be incurred during the lease-up period. Acquired in-place leases as of the date of acquisition are amortized over the remaining lease terms. Should a tenant terminate its lease, the unamortized portion of the in-place lease value is charged to amortization expense. Acquired out-of-market lease values (including ground leases) are recorded based on the present value (using a discount rate that reflects the risks associated with the lease acquired) of the difference between the contractual amounts paid pursuant to the in-place leases and management’s estimate of fair market value lease rates for the corresponding in-place leases. The capitalized out-of-market lease values are amortized as adjustments to rental revenue (or ground lease expense, as applicable) over the remaining terms of the respective leases, which include periods covered by bargain renewal options. Should a tenant terminate its lease, the unamortized portion of the out-of-market lease value is charged to rental revenue. Management estimates the fair value of assumed mortgage notes payable based upon indications of then-current market pricing for similar types of debt with similar maturities. Assumed mortgage notes payable are initially recorded at their estimated fair value as of the assumption date, and the difference between such estimated fair value and the outstanding principal balance of the note will be amortized over the life of the mortgage note payable.
Impairment of Investment Property	Real estate assets are reviewed for impairment each reporting period if events or changes in circumstances indicate that the carrying amount of the individual property may not be recoverable. In such an event, a comparison will be made of the current and projected operating cash flows and expected proceeds from the eventual disposition of each property on an undiscounted basis to the carrying amount of such property. If the carrying amount exceeds the undiscounted cash flows, it would be written down to the estimated fair value to reflect impairment in the value of the asset. The determination of whether investment property is impaired requires a significant amount of judgment by management and is based on the best information available to management at the time of the evaluation.
Cash and Cash Equivalents	Cash and Cash Equivalents The Company considers all short-term, highly liquid investments that are readily convertible to cash with an original maturity of three months or less at the time of purchase to be cash equivalents.
Restricted Cash	Restricted Cash The Company has restricted cash primarily related to certain escrow accounts required by several of the Company’s mortgage agreements.
Concentration of Credit Risk	Concentration of Credit Risk As of December 31, 2015 , the Company had cash and cash equivalents and restricted cash deposited in certain financial institutions in excess of federally insured levels. Management regularly monitors the financial stability of these financial institutions in an effort to manage the Company’s exposure to any significant credit risk in cash and cash equivalents or restricted cash.
Tenant and Other Receivables	Tenant and Other Receivables Receivable balances consist primarily of base rents, tenant reimbursements and receivables attributable to straight-line rent. An allowance for the uncollectible portion of tenant and other receivables is determined based upon an analysis of the tenant’s payment history, the financial condition of the tenant, business conditions in the industry in which the tenant operates and economic conditions in the area in which the property is located.
Deferred Leasing and Financing Costs	Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing (see Note 6 - Debt Financing). These fees are presented as a reduction to the related debt liability for permanent mortgages and presented as an asset for revolving credit arrangements. In total, deferred financing costs (net of amortization) were $15.6 million and $12.9 million as of December 31, 2015 and 2014. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations. Deferred Leasing Costs Direct leasing costs, primarily consisting of third-party leasing commissions, tenant inducements and legal costs are capitalized and amortized over the life of the related lease. Tenant inducement amortization is recorded as an offset to rental revenue and the amortization of other direct leasing costs is recorded in amortization expense.
Real Estate Loans Receivable	Real Estate Loans Receivable Real estate loans receivable are shown at cost, net of any applicable allowance for uncollectibility and net of deferred loan origination fees. The Company defers certain loan origination fees and amortizes them as an adjustment of yield over the term of the related real estate loan receivable. The related amortization of the deferred loan origination fees are recorded in other revenue in the accompanying consolidated statement of operations and comprehensive income (loss). An allowance for the uncollectible portion of the real estate loans receivable is determined based upon an analysis of the economic conditions in the area in which the property is located and credit quality indicators which include: borrower’s payment history, the financial condition of the borrower, and business conditions in the industry in which the borrower operates. Additionally, a real estate loan receivable is considered to be impaired, when based upon current events, it is probable that we will be unable to collect all amounts due according to the existing contractual terms. If a real estate loan receivable is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at its effective interest rate or to the value of the underlying collateral if the real estate loan receivable is collateral dependent. Evaluating real estate loans receivable for potential impairment can require management to exercise significant judgment.
Revenue Recognition	Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month. As of December 31, 2015 and December 31, 2014 , respectively, the Company recorded liabilities of $33.4 million and $34.6 million related to prepaid rental payments which were included in other liabilities in the accompanying 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 $72.2 million and $47.4 million as of December 31, 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. Other revenues consist primarily of parking revenue, tenant reimbursements and interest on loans receivable. Parking revenue represents amounts generated from contractual and transient parking and is recognized in accordance with contractual terms or as services are rendered. Other revenues relating to tenant reimbursements are recognized in the period that the expense is incurred.
Issuer Costs	Issuer Costs The Company reimburses the Advisor for any issuer costs related to the Company’s public offerings that it pays on the Company’s behalf. Such costs consist of, among other costs, expenses of the Company’s organization, legal, accounting, bona fide out-of-pocket itemized and detailed due diligence costs, printing, filing fees, transfer agent costs, postage, escrow fees, data processing fees, advertising and sales literature and other offering-related costs. Organizational issuer costs, such as expenses associated with the formation of the Company and its board of directors are expensed and other issuer costs related to our public offerings are recorded as an offset to additional paid-in capital. Dealer Manager Agreement In connection with the Company’s two prior public offerings of primary shares, the second of which closed in April 2014, the Dealer Manager received a selling commission of up to 7.5% of gross offering proceeds and a dealer manager fee of up to 2.5% of gross offering proceeds, both of which were recorded as an offset to additional paid-in-capital in the Company’s financial statements. Pursuant to separately negotiated agreements, the Dealer Manager reallowed up to 7.0% of gross proceeds as a selling commission and up to 1.5% of gross proceeds from its dealer manager fee as a marketing fee to broker-dealers participating in the Company’s public offerings. The Dealer Manager paid broker-dealers up to an additional 1.0% of the gross offering proceeds as reimbursements for distribution and marketing-related costs and expenses. No selling commissions or dealer manager fees were or will be paid for sales under the Company’s distribution reinvestment plan.
Income Taxes	Income Taxes The Company has elected to be treated as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”). The Company’s management believes that it operates in such a manner as to qualify for treatment as a REIT and intends to operate in the foreseeable future in such a manner so that it will remain qualified as a REIT for federal income tax purposes. Accordingly, no provision has been made for U.S. federal income taxes for the years ended December 31, 2015 , 2014 and 2013 in the accompanying consolidated financial statements. In 2015 , 2014 and 2013 , income tax expense recorded by the Company was primarily comprised of foreign income taxes related to the operation its international properties. The Company does not believe it has any uncertain tax positions or unrecognized tax benefits requiring disclosure.
Redemption of Common Stock	Redemption of Common Stock The Company complies with Financial Accounting Standards Board (“FASB”) Accounting Standards Codification 480 “Distinguishing Liabilities from Equity” which requires, among other things, that financial instruments that represent a mandatory obligation of the Company to repurchase shares be classified as liabilities and reported at settlement value. When approved, the Company will reclassify such obligations from equity to an accrued liability based upon their respective settlement values.
Per Share Data	Per Share Data Net income (loss) per common share is calculated by dividing the net income (loss) attributable to common stockholders for each period by the weighted average number of common shares outstanding during such period. Net income (loss) per common share on a basic and diluted basis is the same because the Company has no potentially dilutive common shares outstanding.
Reclassification	Reclassifications In connection with the recent amendments to the Accounting Standards Codification (“ASC” or the “Codification”) issued by the FASB regarding the presentation of debt issuance costs in financial statements, the Company reclassified deferred financing costs, excluding costs related to the Company’s revolving credit arrangements, of $11.4 million as of December 31, 2014 to notes payable, net on the consolidated balance sheet.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, FASB issued amendments to the Codification to provide guidance on recognizing revenue from contracts with customers. The amendments also replace prior guidance regarding the recognition of revenue from sales of real estate, except for revenue from sales that are part of a sale-leaseback transaction. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2016. The Company is currently assessing the impact, if any, that the adoption of these amendments will have on its financial statements. In January 2015, the FASB issued amendments to the Codification to provide guidance on the disclosure of extraordinary items. The amendments eliminate the concept of extraordinary items from GAAP. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company does not believe the adoption of this guidance will have a material impact on the Company’s financial statements. The Company did not elect to early adopt these amendments. In February 2015, the FASB issued amendments to the Codification’s consolidation guidance which improves targeted areas of the consolidation guidance and reduces the number of consolidation models. The amendments in the Accounting Standards Update (“ASU”) are effective for annual and interim periods in fiscal years beginning after December 15, 2015, with early adoption permitted. The Company has not elected to early adopt this standard. The Company has evaluated the impact of the adoption of these amendments on its consolidated financial statements and has determined that the Operating Partnership is considered a variable interest entity (“VIE”). However, the Company meets the disclosure exemption criteria as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. As such, the Company does not believe this standard will have a material impact on its consolidated financial statements. In April 2015 and August 2015, the FASB issued amendments to change the prior guidance concerning the presentation of debt issuance costs in the financial statements. Under this revised guidance, an entity will present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset, except for 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. The Company elected to adopt these amendments early, effective for the year ended December 31, 2015 and retroactively reclassified the prior periods presented. See - Reclassifications above for the impact on the Company’s consolidated balance sheet. In September 2015, the FASB issued new guidance that eliminates the requirement that an acquirer in a business combination account for measurement-period adjustments retrospectively. Instead, an acquirer will recognize a measurement-period adjustment during the period in which it determines the amount of the adjustment. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and early adoption is permitted. The Company does not expect this new guidance to have a material impact on its financial statements upon adoption. In January 2016, the FASB issued new guidance intended to improve the recognition and the measurement of financial instruments. The ASU will require equity investments, excluding those investments accounted for under the equity method of accounting or those that result in consolidation of the investee, to be measured at fair value with the changes in fair value recognized in net income; will simplify the impairment assessment of those investments; will eliminate the disclosure of the method(s) and significant assumptions used to estimate the fair value for financial instruments measured at amortized cost and change the fair value calculation for those investments; will change the disclosure in other comprehensive income for financial liabilities that are measured at fair value in accordance with the fair value options for financial instruments; and will clarify that a deferred asset related to available-for-sale securities should be included in an entity's evaluation for a valuation allowance. This new guidance is effective for fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements. In February 2016, the FASB issued an ASU intended to improve financial reporting about leasing transactions. The ASU will require companies that lease assets to recognize on the balance sheet the assets and liabilities for the rights and obligations created by those leases. The accounting by companies that own the assets leased by the lessee (the lessor) will remain largely unchanged from current GAAP. The standard is effective for fiscal years beginning after December 15, 2018 and early adoption is permitted. The Company is currently assessing the impact the adoption of this guidance will have on its financial statements.
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 11 — Fair Value Measurements for additional information regarding the fair value of our 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.
Fees and Expense Reimbursements	Special OP Units –Hines Global REIT Associates Limited Partnership, an affiliate of Hines, owns the special units of the Operating Partnership (“Special OP Units”), which entitle them to receive distributions in an amount equal to 15% of distributions, including from sales of real estate investments, refinancings and other sources, but only after the Company’s stockholders have received, or are deemed to have received, in the aggregate, cumulative distributions equal to their invested capital plus an 8.0% cumulative, non-compounded annual pre-tax return on such invested capital. At the sole discretion of the Advisor, the acquisition fees, asset management fees, debt financing fees and disposition fees are payable, in whole or in part, in cash or units of the Operating Partnership (“OP Units”). For the purposes of the payment of these fees, each OP Unit will be valued at the per-share offering price of the Company’s common stock in its most recent public offering less selling commissions and dealer manager fees. Upon the Advisor’s request, each OP unit can be repurchased for cash or can be converted into one share of the Company’s common stock. The decision to redeem each OP unit for cash or shares is at the Company’s option except in certain circumstances such as the Company’s decision to list its shares on a national securities exchange, a liquidation event or upon termination or nonrenewal of the Advisory Agreement for any reason other than by the Advisor. The Company will recognize the expense related to these OP Units as the related service is performed, as each OP Unit will be fully vested upon issuance. The Company reimburses the Advisor for all expenses paid or incurred by the Advisor in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse the Advisor for any amount by which its operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of: (A) 2% of its average invested assets, or (B) 25% of its net income determined without reduction for any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of the Company’s assets for that period. Notwithstanding the above, the Company may reimburse the Advisor for expenses in excess of this limitation if a majority of the independent directors determines that such excess expenses are justified. Disposition Fee – The Advisor or its affiliates also will be paid a disposition fee of 1.0% of the sales price of any real estate investments sold or 1.0% of the Company’s pro rata share of the sales price with respect to the Company’s indirect investments. Acquisition Fee – Prior to April 2012, the Advisor received an acquisition fee equal to 2.0% of (i) the purchase price of each real estate investment the Company acquired or originated, including any debt attributable to such investments or the principal amounts of any loans originated directly by the Company and (ii) with respect to indirect investments through another entity, such entity’s pro rata share of the gross asset value of all real estate investments held by such entity. In March 2012, the Advisory Agreement was amended to increase the acquisition fee to 2.25% of these amounts. Effective as of April 1, 2015, the Advisory Agreement was further amended in order to reduce the acquisition fee paid to the Advisor from 2.25% to 0.50% of these amounts. Asset Management Fee – The Advisor receives an asset management fee equal to 0.125% per month of the net equity capital invested by the Company in real estate investments as of the end of each month. In April 2012, the Advisor agreed to waive the asset management fee otherwise payable to it pursuant to the Advisory Agreement for each quarter in 2012 and 2013, to the extent that the Company’s modified funds from operations (“MFFO”) for a particular quarter, as disclosed in each of its quarterly reports, amounts to less than 100% of the aggregate distributions declared for such quarter. As a result of these waivers, the Advisor waived $12.2 million of asset management fees payable to it for these periods, in aggregate. These fee waivers are not deferrals and accordingly, these fees will not be paid to the Advisor in cash at any time in the future. Additionally, the Advisor agreed to waive asset management fees otherwise payable to it for the years ended December 31, 2015 and 2014, respectively, to the extent that our MFFO for the years ended December 31, 2014 and 2015, as disclosed in our Annual Report on Form 10-K for such years, amounted to less than 100% of the aggregate distributions declared to our stockholders for such years. However, because MFFO exceeded distributions declared to the Company’s stockholders for the years ended December 31, 2015 and 2014, the Advisor did not waive any asset management fees.
Property Management and Leasing Agreements	Property Management and Leasing Agreements The Company pays Hines fees for the management and leasing of some of its properties. Property management fees are equal to a market-based percentage of the gross revenues of the properties managed by Hines or the amount of property management fees recoverable from tenants of the properties managed by Hines under their leases. In addition, if Hines provides leasing services with respect to a property, the Company will pay Hines leasing fees which are usual and customary for that type of property in that geographic area. The Company generally will be required to reimburse Hines for certain operating costs incurred in providing property management and leasing services pursuant to the property management and leasing agreements. Included in this reimbursement of operating costs will be the cost of personnel and overhead expenses related to such personnel located at the property as well as off-site personnel located in Hines’ headquarters and regional offices, to the extent the same relate to or support the performance of Hines’ duties under the agreement. Hines may perform construction management services for the Company for both re-development activities and tenant construction. These fees are considered incremental to the construction effort and will be capitalized to the associated real estate project as incurred. Costs related to tenant construction will be depreciated over the estimated useful life. Costs related to redevelopment activities will be depreciated over the estimated useful life of the associated project. Leasing activities will generally be performed by Hines on the Company’s behalf. Leasing fees will be capitalized and amortized over the life of the related lease.
Fair Value of Financial Instruments	Fair values determined by Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets or liabilities the Company has the ability to access. Fair values determined by Level 2 inputs utilize inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs include quoted prices for similar assets and liabilities in active markets and inputs other than quoted prices observable for the asset or liability, such as interest rates and yield curves observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability, and include situations where there is little, if any, market activity for the asset or liability. In instances in which the inputs used to measure fair value may fall into different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement in its entirety has been determined is based on the lowest level input significant to the fair value measurement in its entirety. The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability. Financial Instruments Measured on a Recurring Basis 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, Landesbank Baden-Württemberg, Commonwealth Bank of Australia, Deutsche Pfandbriefbank AG, Crédit Agricole, SMBC Capital Markets, BMO Capital Markets, ING Capital Markets, and the Australia and New Zealand Banking Group Limited. 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 December 31, 2015 and 2014 , 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. 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 fair value methodologies used to measure long-lived assets are described in Note 2 — Summary of Significant Accounting Policies — Investment Property and Lease Intangibles. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy.

Organization (Tables)

Organization (Tables)	12 Months Ended
	Dec. 31, 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): Years Ended December 31, Investment in Unconsolidated Affiliates 2015 2014 2013 Beginning balance 2,873 3,573 3,573 Equity in earnings 408 — — Distributions (1,275 ) (700 ) — Ending balance 2,006 2,873 3,573 The table below summarizes the Company’s maximum loss exposure related to its unconsolidated VIEs as of December 31, 2015 and December 31, 2014 , 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 balance held by the VIEs which is included in the balance sheet line item “Real estate loans receivable” in the condensed consolidated balance sheets as of December 31, 2015 and December 31, 2014 (in thousands). Period Investment in Unconsolidated VIEs (1) Maximum Risk of Loss (2) December 31, 2015 $ 2,006 $ 18,619 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 made to the VIEs as of the date indicated. See Note 5 — Real Estate Loans Receivable for additional information regarding the loan. A summary of our consolidated VIEs is as follows (in thousands): December 31, 2015 December 31, 2014 Maximum risk of loss (1) $ 52,394 $ 47,986 Assets held by VIEs $ 171,172 $ 188,264 Assets held as collateral for debt $ 171,172 $ 188,264 Liabilities held by VIEs $ 106,656 $ 131,691 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs.

Summary of Significant Accoun27

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2015
Accounting Policies [Abstract]
Schedule of Other Assets	Other assets included the following (in thousands): December 31, 2015 December 31, 2014 Deposits on investment property (1) $ — $ 15,000 Deferred costs 1,000 — Prepaid expenses 3,401 2,021 Deferred tax assets 10,501 8,127 Other 449 791 Other assets $ 15,351 $ 25,939 (1) As of December 31, 2014, this consisted of a deposit that had been paid related to the acquisition of The Summit.

Investment Property (Tables)

Investment Property (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate [Abstract]
Schedule of Investment Property	Investment property consisted of the following amounts as of December 31, 2015 and December 31, 2014 (in thousands): December 31, 2015 December 31, 2014 Buildings and improvements (1) $ 2,776,740 $ 2,501,176 Less: accumulated depreciation (200,311 ) (138,821 ) Buildings and improvements, net 2,576,429 2,362,355 Land 691,448 602,344 Investment property, net $ 3,267,877 $ 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 Lease Intangibles	As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles was as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 894,110 $ 108,660 $ (123,124 ) Less: accumulated amortization (286,903 ) (43,083 ) 27,428 Net $ 607,207 $ 65,577 $ (95,696 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles was 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 , 2014 , and 2013 acquisitions, as of the date of the 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 (1st Phase) 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 The Rim (3rd Phase) 7.8 8.5 6.5 Harder Logistics Portfolio (2nd Phase) 13.9 15.0 — 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 2013 Acquisitions: Mercedes Benz Bank 5.0 5.0 — One Westferry Circus (1) 8.4 9.9 13.1 465 Victoria 4.7 5.2 7.3 Riverside Center 6.2 1.0 6.9 New City (1) 4.8 4.3 3.0 825 Ann 9.5 — — The Campus at Playa Vista 6.7 8.6 7.1 Perspective Défense 3.8 3.8 3.8 The Markets at Town Center 9.4 0.5 7.0 The Avenue 4.1 6.8 17.2 2300 Main 5.6 — — Fiege Mega Centre 10.2 — — 55 M Street 7.1 7.8 7.3 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for these intangibles.
Schedule of Future Amortization Expense	Anticipated amortization of in-place leases and out-of-market leases, net, for each of the years ending December 31, 2016 through December 31, 2020 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net 2016 $ 99,259 $ 1,274 2017 77,836 (137 ) 2018 60,508 (1,971 ) 2019 48,454 (3,332 ) 2020 38,523 (2,924 )
Schedule of Future Minimum Rental Income for Operating Leases	The Company has entered into non-cancelable lease agreements with tenants for space. As of December 31, 2015 , the approximate fixed future minimum rentals for each of the years ending December 31, 2016 through 2020 and thereafter were as follows (in thousands): Fixed Future Minimum Rentals 2016 $ 332,787 2017 318,685 2018 261,922 2019 236,311 2020 210,363 Thereafter 1,272,890 Total $ 2,632,958

Recent Acquisitions of Real E29

Recent Acquisitions of Real Estate (Tables)	12 Months Ended
	Dec. 31, 2015
Business Combinations [Abstract]
Schedule of Amounts Recognized for Major Assets Acquired	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 , 2014 and 2013 as follows (in thousands): Property Name Acquisition Building and (1) Land (1) In-place (1) Out-of- (1) Total (1) 2015 The Summit 03/04/2015 $ 217,974 $ 68,090 $ 45,360 $ (14,920 ) $ 316,504 Harder Logistics Portfolio (2) 12/03/2015 & 4/01/2015 $ 89,368 $ 16,362 $ 15,413 $ 5,392 $ 126,535 2014 The Rim (3) 02/13/2014, 04/30/2015, & $ 135,616 $ 85,240 $ 55,620 $ (28,690 ) $ 247,786 25 Cabot Square 03/28/2014 $ 165,121 $ — $ 206,640 $ (16 ) $ 371,745 Simon Hegele Logistics (4) 06/03/2014 & 01/07/2015 $ 56,428 $ 13,245 $ 9,154 $ 41 $ 78,868 818 Bourke 10/31/2014 $ 82,867 $ 36,487 $ 17,082 $ (792 ) $ 135,644 2013 Mercedes Benz Bank 02/07/2013 $ 47,643 $ 11,953 $ 7,093 $ 3,533 $ 70,222 One Westferry Circus 02/28/2013 $ 48,874 $ — $ 74,693 $ 1,049 $ 124,616 465 Victoria 02/28/2013 $ 48,788 $ 26,566 $ 17,712 $ (2,233 ) $ 90,833 Riverside Center 03/27/2013 $ 125,014 $ 45,888 $ 30,360 $ (4,170 ) $ 197,092 New City 03/28/2013 $ 115,208 $ — $ 46,117 $ 2,137 $ 163,462 825 Ann 04/30/2013 $ 83,802 $ 20,669 $ 23,725 $ — $ 128,196 The Campus at Playa Vista 05/14/2013 $ 125,567 $ 41,160 $ 37,320 $ 12,580 $ 216,627 Perspective Défense 06/21/2013 $ 109,704 $ 29,039 $ 22,038 $ 5,060 $ 165,841 The Markets at Town Center 07/23/2013 $ 76,067 $ 52,130 $ 19,020 $ (12,210 ) $ 135,007 The Avenue 08/12/2013 $ 71,990 $ 54,940 $ 47,350 $ (11,280 ) $ 163,000 2300 Main 08/29/2013 $ 27,940 $ 3,570 $ 7,990 $ — $ 39,500 Fiege Mega Centre 10/18/2013 $ 36,005 $ 10,107 $ 7,481 $ — $ 53,593 55 M Street 12/09/2013 $ 85,277 $ 24,810 $ 34,730 $ (3,940 ) $ 140,877 (1) For acquisitions denominated in a foreign currency, amounts have been translated at a rate based on the exchange rate in effect on the acquisition date. (2) In April 2015, the Company acquired two logistics buildings in the Harder Logistics Portfolio located in Nuremberg and Karlsdorf, Germany. In December 2015, the Company acquired the second phase of the portfolio, which consisted of one logistics building located in Duisburg, Germany. (3) In February 2014, the Company acquired The Rim retail center in San Antonio, Texas. In April 2015 and December 2015, the Company acquired additional phases of the center. (4) 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.
Schedule of Weighted-Average Amortization Periods for Intangible Assets and Liabilities Acquired	As of December 31, 2015 , the cost basis and accumulated amortization related to lease intangibles was as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 894,110 $ 108,660 $ (123,124 ) Less: accumulated amortization (286,903 ) (43,083 ) 27,428 Net $ 607,207 $ 65,577 $ (95,696 ) As of December 31, 2014 , the cost basis and accumulated amortization related to lease intangibles was 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 , 2014 , and 2013 acquisitions, as of the date of the 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 (1st Phase) 10.0 5.7 — The Rim (2nd Phase) 11.3 9.8 6.0 The Rim (3rd Phase) 7.8 8.5 6.5 Harder Logistics Portfolio (2nd Phase) 13.9 15.0 — 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 2013 Acquisitions: Mercedes Benz Bank 5.0 5.0 — One Westferry Circus (1) 8.4 9.9 13.1 465 Victoria 4.7 5.2 7.3 Riverside Center 6.2 1.0 6.9 New City (1) 4.8 4.3 3.0 825 Ann 9.5 — — The Campus at Playa Vista 6.7 8.6 7.1 Perspective Défense 3.8 3.8 3.8 The Markets at Town Center 9.4 0.5 7.0 The Avenue 4.1 6.8 17.2 2300 Main 5.6 — — Fiege Mega Centre 10.2 — — 55 M Street 7.1 7.8 7.3 (1) Excludes the effect of ground leases which significantly increase the weighted average useful life for these intangibles.
Schedule of Revenue and Net Income (Loss), Acquisitions	The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the year ended December 31, 2015 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2015 (in thousands): For the Year Ended 2015 Acquisitions December 31, 2015 Simon Hegele Logistics (1) Revenue $ 5,336 Net income (loss) $ 48 The Summit Revenue $ 21,756 Net income (loss) $ 439 Harder Logistics Portfolio (2) Revenue $ 3,766 Net income (loss) $ (8,762 ) The Rim (3) Revenue $ 23,458 Net income (loss) $ 2,853 (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. 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 Harder Logistics Portfolio, including the first phase of the portfolio acquired in April 2015. The second phase of the portfolio was acquired in December 2015 and includes 677,374 square feet of net rentable area, which represents 52.7% of the net rentable area of the total Harder Logistics Portfolio. (3) 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 27.8% of the net rentable area of the total Rim facility. The third phase of the center was acquired in December 2015 and includes 28,901 square feet of net rentable area, which represents 3.1% 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 year ended December 31, 2014 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2014 (in thousands): For the Year Ended 2014 Acquisitions December 31, 2014 The Rim Revenue $ 17,240 Net income (loss) $ 369 25 Cabot Square Revenue $ 26,666 Net income (loss) $ (16,639 ) Simon Hegele Logistics Revenue $ 2,110 Net income (loss) $ (3,974 ) 818 Bourke Revenue $ 1,980 Net income (loss) $ (7,700 ) The table below includes the amounts of revenue and net income (loss) of the acquisitions completed during the year ended December 31, 2013 , which are included in the Company’s consolidated results of operations for the year ended December 31, 2013 (in thousands): For the Year Ended 2013 Acquisitions December 31, 2013 Mercedes Benz Bank Revenue $ 5,752 Net income (loss) $ (4,781 ) One Westferry Circus Revenue $ 11,938 Net income (loss) $ (6,717 ) 465 Victoria Revenue $ 7,403 Net income (loss) $ (5,576 ) Riverside Center Revenue $ 15,854 Net income (loss) $ 2,468 New City Revenue $ 11,509 Net income (loss) $ (4,167 ) 825 Ann Revenue $ 7,724 Net income (loss) $ (7,318 ) The Campus at Playa Vista Revenue $ 12,815 Net income (loss) $ 1,244 Perspective Défense Revenue $ 8,325 Net income (loss) $ (12,035 ) The Markets at Town Center Revenue $ 5,654 Net income (loss) $ 2,482 The Avenue at Murfreesboro Revenue $ 5,423 Net income (loss) $ (191 ) 2300 Main Revenue $ 1,428 Net income (loss) $ (146 ) Fiege Mega Centre Revenue $ 877 Net income (loss) $ (3,353 ) 55 M Street Revenue $ 799 Net income (loss) $ (2,501 )
Business Acquisitions, Pro Forma Information	The following unaudited consolidated information is presented to give effect to current year acquisitions through December 31, 2015 as if the acquisitions occurred on January 1, 2014 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $19.3 million and $47.5 million for the years ended December 31, 2015 and 2014 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2014 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2015 Pro Forma 2014 Revenues $ 486,274 $ 491,187 Net income (loss) $ 13,854 $ 58,514 Basic and diluted income (loss) per common share $ 0.03 $ 0.20 The following unaudited consolidated information is presented to give effect to 2014 acquisitions through December 31, 2014 as if the acquisitions occurred on January 1, 2013 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $47.5 million and $82.1 million for the years ended December 31, 2014 and 2013 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2013 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2014 Pro Forma 2013 Revenues $ 477,692 $ 392,489 Net income (loss) $ 56,503 $ (20,717 ) Basic and diluted income (loss) per common share $ 0.21 $ (0.11 ) The following unaudited consolidated information is presented to give effect to 2013 acquisitions through December 31, 2013 as if the acquisitions occurred on January 1, 2012 . This information excludes activity that is non-recurring and not representative of our future activity, primarily acquisition fees and expenses of $82.1 million and $28.7 million for the years ended December 31, 2013 and 2012 , respectively. The information below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2012 , nor does it purport to represent our future operations (amounts in thousands, except per share amounts): For the Years Ended December 31, Pro Forma 2013 Pro Forma 2012 Revenues $ 388,133 $ 348,012 Net income (loss) $ (21,472 ) $ (31,255 ) Basic and diluted income (loss) per common share $ (0.12 ) $ (0.20 )

Real Estate Loans Receivable (T

Real Estate Loans Receivable (Tables)	12 Months Ended
	Dec. 31, 2015
Real Estate Loans Receivable [Abstract]
Schedule of Real Estate Loans Receivable	Real estate loans receivable included the following at December 31, 2015 and 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 4,964 6,222 Falls of Town Park Apartments 12/30/2013 12/30/2015 7.75% 5,327 — 5,227 Precinct Villages (3) 3/18/2014 3/17/2016 8.50% 2,595 1,793 1,811 Manor Palms (4) 6/26/2014 12/25/2015 7.00% 4,109 — 3,979 Randall’s 7/28/2014 7/28/2017 6.25% 10,939 8,747 8,110 Finesilver 7/31/2014 7/31/2016 6.45% 7,233 5,684 5,165 Dymaxion Apartments 12/15/2014 12/15/2016 7.60% 8,500 8,288 7,684 Marbach Park Apartments 12/15/2014 12/15/2016 7.60% 9,500 9,319 7,676 7.22% $ 69,482 $ 38,795 $ 59,754 Less: Origination fees (128 ) (640 ) Total Flagship Capital JV $ 38,667 $ 59,114 Other Loans Receivable 1377 6/29/2012 7/1/2016 10.00% $ 3,962 $ 3,962 $ 3,962 The Rim (5) 9/8/2014 9/30/2016 8.50% $ 20,750 $ 12,651 $ 11,324 Total Real Estate Loans Receivable $ 55,280 $ 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 March 2016, the borrower entered into an amendment to extend the maturity date of this loan to June 30, 2016. (4) In July 2015, the borrower repaid the outstanding principal balance of the loan. (5) In December 2015, the borrower made a payment of $9.4 million , and entered into an amendment to extend the maturity date of this loan to September 30, 2016 and to reduce the total loan commitment to $20.8 million .

Debt Financing (Tables)

Debt Financing (Tables)	12 Months Ended
	Dec. 31, 2015
Debt Disclosure [Abstract]
Schedule of Debt	The following table describes the Company’s debt outstanding at December 31, 2015 and 2014 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of December 31, 2015 Principal Outstanding at December 31, 2015 Principal Outstanding at December 31, 2014 Secured Mortgage Debt Brindleyplace Project 7/1/2010 7/7/2016 (1) Variable 2.01 % $ 179,197 $ 188,034 Hock Plaza 9/8/2010 12/6/2015 Fixed N/A — 75,657 Southpark 10/19/2010 12/6/2016 Fixed 5.67 % 18,000 18,000 Fifty South Sixth 11/4/2010 11/3/2018 (2) Variable 1.84 % 125,000 95,000 Gogolevsky 11 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 % 14,943 25,162 100 Brookes 7/13/2012 7/31/2017 Variable 4.61 % 31,546 35,254 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 67,601 76,797 Minneapolis Retail Center 8/2/2012 8/10/2019 Fixed 3.50 % 65,500 65,500 825 Ann 11/16/2012 11/20/2018 Variable, subject to interest rate cap 2.88 % 59,139 66,091 Mercedes Benz Bank 2/7/2013 12/31/2019 Variable, subject to interest rate cap 1.52 % 36,719 41,346 465 Victoria 2/28/2013 12/2/2018 Variable, subject to interest rate cap 3.63 % 38,831 43,396 New City 3/28/2013 3/28/2018 Variable, subject to interest rate cap 2.30 % 83,978 95,934 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 71,050 74,554 The Campus at Playa Vista (3) 5/14/2013 12/1/2018 Variable 1.65 % 150,000 115,000 Perspective Defense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.45 % 76,342 85,085 Fiege Mega Centre 10/18/2013 10/18/2018 Variable, subject to interest rate cap 1.66 % 25,135 28,373 55 M Street 12/9/2013 12/9/2017 Variable 1.88 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 183,175 192,209 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 38,940 26,106 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.86 % 64,952 74,627 The Summit 3/4/2015 3/4/2022 Variable 1.80 % 170,000 — Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 76,106 — Other Notes Payable JPMorgan Chase Revolving Credit Facility 4/13/2012 6/29/2019 Variable, subject to interest rate cap (4) 1.99 % (5) 327,000 122,894 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable, subject to interest rate cap (4) 1.98 % 495,000 378,000 WaterWall Place Construction Loan 6/29/2012 5/8/2018 Variable, subject to interest rate cap 2.02 % (5) 44,897 44,092 Aviva Coral Gables JV Construction Loan 5/10/2013 5/10/2017 Variable, subject to interest rate cap 2.66 % (5) 42,693 38,431 Total Principal Outstanding $ 2,557,744 $ 2,112,642 Unamortized Premium/ (Discount) 105 (283 ) Unamortized Deferred Financing Fees (6) (12,193 ) (11,421 ) Notes Payable $ 2,545,656 $ 2,100,938 Notes Payable to Affiliates Aviva Coral Gables Construction Loan 7/13/2012 7/13/2015 Variable N/A — 17,601 Total Notes Payable to Affiliates $ — $ 17,601 $ 2,545,656 $ 2,118,539 (1) During 2015, the Company entered into various amendments and exercised extensions, which extended the maturity date from July 7, 2015 to July 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 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. (3) In November 2015, the Company entered into an amendment to the Campus at 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. (4) 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. (5) Represents the weighted average interest rate as of December 31, 2015 . (6) Effective December 31, 2015, we adopted ASU No. 2015-03, "Simplifying the Presentation of Debt Issuance Costs." Amounts for prior years were reclassified to conform to the presentation for the current year. See Note 2 — Summary of Significant Accounting Policies for additional information.
Schedule of Maturities of Long Term Debt	The Company is required to make the following principal payments on its outstanding notes payable for each of the years ending December 31, 2016 through December 31, 2020 and for the period thereafter. Amounts are in thousands: Payments due by Year 2016 2017 2018 2019 2020 Thereafter Principal payments $ 204,952 $ 154,025 $ 527,078 $ 1,175,956 $ 255,374 $ 240,359

Derivative Instruments (Tables)

Derivative Instruments (Tables)	12 Months Ended
	Dec. 31, 2015
Derivative Instruments and Hedges, Assets [Abstract]
Schedule of Derivative Instruments	The table below provides additional information regarding these interest rate cap contracts (in thousands, except percentages). Interest Rate Cap Contracts Property Effective Date Expiration Date Notional Amount (1) Interest Rate Received Pay Rate /Strike Rate Poland Logistics Portfolio August 2, 2012 June 30, 2017 $ 51,103 EURIBOR 2.00 % Poland Logistics Portfolio October 9, 2012 June 30, 2017 $ 10,649 EURIBOR 2.00 % Poland Logistics Portfolio June 30, 2017 June 28, 2019 $ 58,749 EURIBOR 2.00 % WaterWall Place January 7, 2013 June 29, 2016 $ 45,500 LIBOR 1.25 % Mercedes Benz Bank March 11, 2013 March 31, 2018 $ 36,814 EURIBOR 1.50 % 465 Victoria (2) March 20, 2013 February 29, 2016 $ 20,143 BBSW 4.33 % 825 Ann July 30, 2013 April 30, 2016 $ 44,355 BBSW 4.50 % 825 Ann April 29, 2016 November 20, 2018 $ 29,570 BBSW 3.25 % New City April 11, 2013 May 6, 2013 March 16, 2018 $ 58,624 EURIBOR 2.50 % Perspective Defense July 25, 2013 July 25, 2019 $ 76,343 EURIBOR 1.70 % (3) Fiege Mega Centre October 18, 2013 October 18, 2018 $ 25,134 EURIBOR 2.00 % Aviva Coral Gables September 5, 2014 December 5, 2016 $ 46,191 LIBOR 2.00 % (4) 818 Bourke November 27, 2014 October 27, 2017 $ 33,389 BBSY 4.00 % JP Morgan Chase Revolving Credit Facility - Revolving Loan March 27, 2015 December 27, 2016 $ 250,000 LIBOR 2.25 % JP Morgan Chase Revolving Credit Facility - Term Loan March 27, 2015 December 27, 2016 $ 250,000 LIBOR 2.25 % Harder Logistics Portfolio March 31, 2015 March 31, 2018 $ 34,097 EURIBOR 1.50 % (1) For notional amounts denominated in a foreign currency, amounts have been translated at a rate based on the exchange rate in effect on December 31, 2015 . (2) The Company entered into a new interest rate cap contract in February 2016 with an expiration date of November 30, 2018. (3) Beginning in July 2016, the strike rate of this interest rate cap will increase to 2.00% for the remaining term of the interest rate cap. (4) Beginning in January 2016, the strike rate of this interest rate cap increased to 3.25% for the remaining term.
Schedule of Derivatives Not Designated As Hedging 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 consolidated balance sheets, as of December 31, 2015 and December 31, 2014 (in thousands): Derivative Assets Derivative Liabilities December 31, December 31, December 31, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ — $ — $ — $ (2,684 ) Interest rate caps 675 345 — — Foreign currency forward contracts — 14,316 — (7,164 ) Total derivatives $ 675 $ 14,661 $ — $ (9,848 ) The table below presents the effects of the changes in fair value of our derivative instruments in the Company’s consolidated statements of operations and comprehensive income (loss) for the year ended December 31, 2015 , 2014 and 2013 (in thousands): Gain (Loss) on Derivative Instruments Year Ended December 31, December 31, December 31, Derivatives not designated as hedging instruments: Interest rate swaps $ 2,661 $ 4,122 $ 5,910 Interest rate caps (2,099 ) (4,131 ) (828 ) Foreign currency forward contracts — 7,331 4,827 Total gain (loss) on derivatives $ 562 $ 7,322 $ 9,909

Distributions (Tables)

Distributions (Tables)	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
Schedule of Distributions Declared	The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for the years ended December 31, 2015 , 2014 and 2013 , 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 Years Ended Cash Distributions Distributions Reinvested Total Declared Total Declared December 31, 2015 $ 83,481 $ 93,812 $ 177,293 $ 4,221 December 31, 2014 $ 79,555 $ 91,530 $ 171,085 $ 4,668 December 31, 2013 $ 56,702 $ 63,062 $ 119,764 $ 3,331

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below outlines fees and expense reimbursements incurred that are payable by the Company to Hines and its affiliates for the years ended December 31, 2015 , 2014 , and 2013 and amounts unpaid as of December 31, 2015 and 2014 (in thousands): Incurred During the Years Ended December 31, Unpaid as of December 31, Type and Recipient 2015 2014 2013 2015 2014 Selling Commissions- Dealer Manager $ — $ 27,021 $ 56,259 $ — $ — Dealer Manager Fee- Dealer Manager $ — $ 9,334 $ 19,321 — — Issuer Costs- the Advisor $ 61 $ 1,975 $ 7,137 — — Acquisition Fee (1) - the Advisor and affiliates of Hines $ 8,797 $ 18,188 $ 40,136 — 1,492 Asset Management Fee- the Advisor and affiliates of Hines $ 35,725 $ 34,881 $ 20,354 8,493 8,402 Disposition Fee- the Advisor $ 309 $ 2,543 $ — 309 — Other (2) $ 6,768 $ 6,713 $ 5,216 1,574 1,657 Property Management Fee- Hines $ 7,518 $ 6,680 $ 5,599 (12 ) 159 Development/ Construction Management Fee- Hines $ 132 $ 2,556 $ 4,010 27 35 Leasing Fee - Hines $ 4,446 $ 2,138 $ 3,371 3,417 1,363 Redevelopment Construction Management- Hines $ — $ 9 $ — — — Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 11,098 $ 10,777 $ 7,074 661 998 Due to Affiliates $ 14,469 $ 14,106 (1) As described below, effective as of April 1, 2015, the Company, the Operating Partnership and the Advisor amended the Advisory Agreement in order to reduce the acquisition fee rate paid to the Advisor from 2.25% to 0.50% . (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)	12 Months Ended
	Dec. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Derivatives 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 December 31, 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) December 31, 2015 Interest rate swaps $ — $ — $ — $ — Interest rate caps $ 675 $ — $ 675 $ — 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)	12 Months Ended
	Dec. 31, 2015
Segment Reporting [Abstract]
Schedule of Segment Reporting Information	For the years ended December 31, 2015 , 2014 and 2013 , the Company’s property revenues in excess of expenses by segment was as follows: Years Ended December 31, 2015 2014 2013 Property revenues in excess of expenses (1) Domestic office investments $ 107,116 $ 91,932 $ 72,547 Domestic other investments 76,835 67,297 39,413 International office investments 97,644 114,586 73,226 International other investments 45,608 45,348 35,583 Total property revenues in excess of expenses $ 327,203 $ 319,163 $ 220,769 (1) Revenues less property operating expenses, real property taxes and property management fees. For the years ended December 31, 2015 and 2014 , the Company’s total assets by segment was as follows: Years Ended December 31, 2015 2014 Total Assets Domestic office investments $ 1,503,926 $ 1,225,705 Domestic other investments 1,082,241 1,039,962 International office investments 1,090,483 1,232,534 International other investments 650,168 555,636 Corporate-level accounts 46,128 61,336 Total Assets $ 4,372,946 $ 4,115,173 The tables below provide additional information related to each of the Company’s segments, geographic location 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 are in thousands, except for percentages): Years Ended December 31, 2015 2014 2013 Total Revenue Domestic office investments $ 168,962 $ 145,941 $ 114,480 Domestic other investments 119,083 104,753 62,407 International office investments 123,010 140,119 90,415 International other investments 65,818 65,451 55,560 Total Revenue $ 476,873 $ 456,264 $ 322,862
Schedule of Revenue and Assets, by Geographical Areas	For the years ended December 31, 2015 and 2014 , the Company’s total assets were attributable to the following countries: Years Ended December 31, 2015 2014 United States 60 % 56 % United Kingdom 16 % 18 % Australia 7 % 9 % Poland 6 % 7 % Russia 1 % 2 % France 3 % 4 % Germany 7 % 4 % For the years ended December 31, 2015 , 2014 and 2013 , the Company’s total revenue was attributable to the following countries: Years Ended December 31, 2015 2014 2013 United States 60 % 55 % 55 % United Kingdom 17 % 19 % 15 % Australia 8 % 8 % 10 % Poland 5 % 7 % 9 % Russia 3 % 5 % 6 % France 3 % 3 % 3 % Germany 4 % 3 % 2 %
Reconciliation of Property Revenues in Excess of Expenses From Segments to Consolidated	For the years ended December 31, 2015 , 2014 and 2013 the Company’s reconciliation to the Company’s net loss is as follows: Years Ended December 31, 2015 2014 2013 Reconciliation to net income (loss) Total property revenues in excess of expenses $ 327,203 $ 319,163 $ 220,769 Depreciation and amortization (186,965 ) (193,870 ) (140,187 ) Acquisition related expenses (10,472 ) (29,278 ) (42,747 ) Asset management and acquisition fees (44,522 ) (53,069 ) (60,490 ) General and administrative expenses (8,597 ) (6,782 ) (5,344 ) Gain (loss) on derivatives 562 7,322 9,909 Gain (loss) on sale of real estate investments 14,684 64,003 — Foreign currency gains (losses) (21,468 ) (13,074 ) (6,458 ) Interest expense (71,288 ) (78,273 ) (60,968 ) Interest income 427 506 454 Benefit (provision) for income taxes (4,518 ) (5,806 ) (701 ) Net income (loss) $ (4,954 ) $ 10,842 $ (85,763 )

Supplemental Cash Flow Disclo37

Supplemental Cash Flow Disclosures (Tables)	12 Months Ended
	Dec. 31, 2015
Supplemental Cash Flow Information [Abstract]
Schedule of Supplemental Cash Flow Disclosures	Supplemental cash flow disclosures for the years ended December 31, 2015 , 2014 , and 2013 (in thousands): 2015 2014 2013 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 66,704 $ 66,592 $ 53,942 Cash paid for income taxes $ 6,696 $ 4,161 $ 4,742 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 19,837 $ 17,558 $ 14,143 Other receivables $ 5 $ — $ 5,441 Distributions reinvested $ 93,785 $ 90,198 $ 60,585 Shares tendered for redemption $ 5,245 $ 5,505 $ 2,287 Non-cash net liabilities acquired $ 10,516 $ 2,737 $ 12,867 Accrued additions to investment property $ 883 $ 2,373 $ 8,538

Quarterly Financial Data (Una38

Quarterly Financial Data (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Data [Abstract]
Schedule of Unaudited Quarterly Financial Data	The following table presents selected unaudited quarterly financial data for each quarter during the years ended December 31, 2015 and 2014 (in thousands except per share amounts): Quarters Ended March 31, 2015 June 30, 2015 September 30, 2015 December 31, 2015 Revenues $ 113,079 $ 119,683 $ 119,533 $ 124,578 Gain (loss) on sale of real estate investments $ (1,127 ) $ — $ 55 $ 15,756 Net income (loss) $ (13,908 ) $ (420 ) $ 2,153 $ 7,221 Net (income) loss attributable to noncontrolling interests $ (1,170 ) $ (2,063 ) $ (1,086 ) $ (1,358 ) Net income (loss) attributable to common stockholders $ (15,078 ) $ (2,483 ) $ 1,067 $ 5,863 Income (loss) per common share, basic and diluted $ (0.06 ) $ (0.01 ) $ — $ 0.02 Quarters Ended March 31, 2014 June 30, 2014 September 30, 2014 December 31, 2014 Revenues $ 105,123 $ 117,840 $ 117,705 $ 115,596 Gain (loss) on sale of real estate investments $ — $ — $ — $ 64,003 Net income (loss) $ (35,442 ) $ (9,483 ) $ 4,178 $ 51,589 Net (income) loss attributable to noncontrolling interests $ (947 ) $ (1,097 ) $ (964 ) $ (2,756 ) Net income (loss) attributable to common stockholders $ (36,389 ) $ (10,580 ) $ 3,214 $ 48,833 Income (loss) per common share, basic and diluted $ (0.15 ) $ (0.04 ) $ 0.01 $ 0.18

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	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Public Offering
Proceeds from issuance public offering						$ 0	$ 378,804,000	$ 772,693,000
First Offering
Public Offering
Commencement Date of Public Offering					Aug. 5, 2009
Termination Date Public Offering				Feb. 1, 2013
Second Offering
Public Offering
Commencement Date of Public Offering			Feb. 4, 2013
Termination Date Public Offering		Apr. 11, 2014
Maximum proceeds from public offering			$ 3,500,000,000
Dividend Reinvestment Plan
Public Offering
Commencement Date of Public Offering	Apr. 24, 2014
Maximum proceeds from public offering						$ 500,000,000
Public Offerings
Public Offering
Proceeds from issuance public offering									$ 2,900,000,000
Issuance of common shares, shares									288.3

Organization (Real Estate Inves

Organization (Real Estate Investments) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2015USD ($)ft²real_estate_loanreal_estate_investment	Dec. 31, 2014USD ($)
Real Estate Properties
Number of real estate investments	43
Real estate loans receivable, net | $	$ 55,280	$ 74,400
Flagship Capital Joint Venture
Real Estate Properties
Parent ownership percentage	97.00%
Mortgage loans on real estate, number of loans | real_estate_loan	6
Real estate loans receivable, net | $	$ 38,700
The Rim Phase V Acquired 4/30/15
Real Estate Properties
Area of real estate property (sqft) | ft²	259,316
The Rim Phase VI Acquired 12/30/15
Real Estate Properties
Area of real estate property (sqft) | ft²	28,901
Domestic office investments
Real Estate Properties
Number of real estate investments	11
Domestic other investments
Real Estate Properties
Number of real estate investments	10
International office investments
Real Estate Properties
Number of real estate investments	10
International other investments
Real Estate Properties
Number of real estate investments	12
The Rim
Real Estate Properties
Real estate loans receivable, net | $	$ 12,651	$ 11,324
Total loan commitment | $	$ 20,750

Organization (Joint Ventures, E

Organization (Joint Ventures, Equity Method Investments, Noncontrolling Interests) (Details)	Jan. 14, 2009USD ($)	Dec. 31, 2012USD ($)	Dec. 31, 2015USD ($)ft²Parcel	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Subsidiary of Limited Liability Company or Limited Partnership
Contribution from noncontrolling interest			$ 953,000	$ 3,894,000	$ 2,594,000
Real estate loans receivable, net			55,280,000	74,400,000
Equity in earnings			408,000	0	$ 0
Variable Interest Entity, Not Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Nonconsolidated carrying amount			$ 2,006,000	$ 2,873,000
The Rim Phase VI Acquired 12/30/15
Subsidiary of Limited Liability Company or Limited Partnership
Area of real estate property (sqft) | ft²			28,901
The Rim Phase VI Acquired 12/30/15 | Variable Interest Entity, Not Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Area of real estate property (sqft) | ft²			28,901
Flagship Capital Joint Venture
Subsidiary of Limited Liability Company or Limited Partnership
Parent ownership percentage			97.00%
Real estate loans receivable, net			$ 38,700,000
WaterWall Place JV
Subsidiary of Limited Liability Company or Limited Partnership
Parent ownership percentage			93.00%
The Rim
Subsidiary of Limited Liability Company or Limited Partnership
Number of real estate properties | Parcel			4
Loans payable			$ 12,700,000
The Rim | Variable Interest Entity, Not Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Mezzanine loan commitment			20,800,000
Real estate loans receivable, net			12,700,000
@ 1377 Equity Method Investment | Variable Interest Entity, Not Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Mezzanine loan commitment			3,200,000
Real estate loans receivable, net			4,000,000
Unconsolidated VIE investment, ownership percentage		51.70%
Secured loan held by VIE			$ 23,300,000
Equity in earnings		$ 3,600,000
Hines Global REIT Associates Limited Partnership
Subsidiary of Limited Liability Company or Limited Partnership
Contribution from noncontrolling interest	$ 190,000
Noncontrolling interest, ownership percentage	95.00%		0.01%	0.01%
Hines Global REIT, Inc
Subsidiary of Limited Liability Company or Limited Partnership
Proceeds from issuance, initial public offering	$ 10,000
Hines Global REIT, Inc | Variable Interest Entity, Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Capital contributions to joint venture (net of distributions)			$ 4,400,000	$ 22,700,000
Proceeds from distributions received			$ 13,100,000	$ 6,500,000
Hines Global REIT, Inc | Brindleyplace JV
Subsidiary of Limited Liability Company or Limited Partnership
Parent ownership percentage			60.00%
Hines Global REIT, Inc | Flagship Capital Joint Venture | Variable Interest Entity, Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Parent ownership percentage			97.00%
Moorfield Real Estate Fund II GP Ltd | Brindleyplace JV
Subsidiary of Limited Liability Company or Limited Partnership
Noncontrolling interest, ownership percentage			40.00%
Flagship Capital GP | Flagship Capital Joint Venture | Variable Interest Entity, Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Noncontrolling interest, ownership percentage			3.00%
Affiliate of Hines | WaterWall Place JV | Variable Interest Entity, Primary Beneficiary
Subsidiary of Limited Liability Company or Limited Partnership
Noncontrolling interest, ownership percentage			7.00%

Organization (Schedule of Conso

Organization (Schedule of Consolidated VIEs) (Details) - Variable Interest Entity, Primary Beneficiary - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity
Maximum Risk Loss	$ 52,394	$ 47,986
Assets held by VIEs	171,172	188,264
Assets held as collateral for debt	171,172	188,264
Liabilities held by VIEs	$ 106,656	$ 131,691

Organization (Activity of the C

Organization (Activity of the Companys Unconsolidated Entities) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Investment in Unconsolidated Affiliates
Beginning balance	$ 2,873	$ 3,573	$ 3,573
Equity in earnings	408	0	0
Distributions	(1,275)	(700)	0
Ending balance	$ 2,006	$ 2,873	$ 3,573

Organization (VIE Maximum Expos

Organization (VIE Maximum Exposure) (Details) - Variable Interest Entity, Not Primary Beneficiary - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Variable Interest Entity
Investments in Unconsolidated VIEs	$ 2,006	$ 2,873
Maximum Risk Loss	$ 18,619	$ 18,159

Summary of Significant Accoun45

Summary of Significant Accounting Policies (International Operations) (Details) - USD ($)	12 Months Ended			14 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2015
Intercompany Foreign Currency Balance
Equity method investments impairment	$ 0	$ 0	$ 0
Recognition of accumulated other comprehensive loss into earnings	40,516,000	$ 101,397,000	14,840,000
Amended loan agreement changed functional currency of the loan
Intercompany Foreign Currency Balance
Recognition of accumulated other comprehensive loss into earnings			1,300,000
Repayment of intercompany loan with a foreign subsidiary
Intercompany Foreign Currency Balance
Recognition of accumulated other comprehensive loss into earnings	$ 15,100,000		$ 6,200,000
Disposal of a Foreign Subsidiary
Intercompany Foreign Currency Balance
Foreign currency translation loss				$ 6,800,000

Summary of Significant Accoun46

Summary of Significant Accounting Policies (Useful Lives of Real Estate) (Details)	12 Months Ended
	Dec. 31, 2015
Furniture and Fixtures
Property, Plant and Equipment
Estimated useful life	10 years
Electrical and Mechanical Installations | Minimum
Property, Plant and Equipment
Estimated useful life	15 years
Electrical and Mechanical Installations | Maximum
Property, Plant and Equipment
Estimated useful life	20 years
Building | Maximum
Property, Plant and Equipment
Estimated useful life	40 years

Summary of Significant Accoun47

Summary of Significant Accounting Policies (Details) - USD ($)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Accounting Policies [Abstract]
Impairment of real estate	$ 0	$ 0	$ 0
Deposits in foreign financial institutions	59,100,000
Allowance for doubtful accounts	1,700,000	1,900,000
Tenant inducement amortization	7,600,000	4,200,000	1,700,000
Amortization of deferred leasing costs	2,500,000	1,800,000	700,000
Net deferred financing cost	15,600,000	12,900,000
Amortization of deferred financing costs	6,000,000	6,900,000	5,200,000
Impairment of loans receivable	0	0	$ 0
Allowance for uncollectible financing receivables	0	0
Advance rent	33,400,000	34,600,000
Straight line rent receivable	72,200,000	47,400,000
Common stock redemption liabilities	$ 5,200,000	$ 5,500,000

Summary of Significant Accoun48

Summary of Significant Accounting Policies (Other Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Other Assets
Deposits on investment property	$ 0	$ 15,000
Deferred costs	1,000	0
Prepaid expenses	3,401	2,021
Deferred tax assets	10,501	8,127
Other	449	791
Other assets	$ 15,351	$ 25,939

Summary of Significant Accoun49

Summary of Significant Accounting Policies (Immaterial Error Correction) (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
New Accounting Pronouncement, Early Adoption, Effect | Deferred Financing
Error Corrections and Prior Period Adjustments Restatement
Deferred finance costs, Net	$ (11.4)
New Accounting Pronouncement, Early Adoption, Effect | Notes Payable
Error Corrections and Prior Period Adjustments Restatement
Deferred finance costs, Net	11.4
International office investments | Rental Revenue | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement
Prior Period Reclassification Adjustment	31.3	$ 22.1
International other investments | Rental Revenue | Restatement Adjustment
Error Corrections and Prior Period Adjustments Restatement
Prior Period Reclassification Adjustment	$ (31.3)	$ (22.1)

Investment Property Tabular Dis

Investment Property Tabular Disclosure (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Real Estate Investment Property, at Cost
Investment property, net	$ 3,267,877	$ 2,964,699
Buildings and improvements, net
Real Estate Investment Property, at Cost
Investment property, gross	2,776,740	2,501,176
Less: accumulated depreciation	(200,311)	(138,821)
Investment property, net	2,576,429	2,362,355
Land
Real Estate Investment Property, at Cost
Investment property, gross	$ 691,448	602,344
Multifamily | Construction in Progress
Real Estate Investment Property, at Cost
Investment property, gross		$ 24,300

Investment Property (Narratives

Investment Property (Narratives) (Details) $ in Thousands, £ in Millions, AUD in Millions	1 Months Ended		3 Months Ended								12 Months Ended
	Dec. 31, 2014USD ($)$ / £	Nov. 30, 2014USD ($)	Dec. 31, 2015USD ($)	Sep. 30, 2015USD ($)	Jun. 30, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)$ / £	Sep. 30, 2014USD ($)	Jun. 30, 2014USD ($)	Mar. 31, 2014USD ($)	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)$ / £	Dec. 31, 2013USD ($)	Dec. 31, 2014GBP (£)$ / £	Nov. 30, 2014AUD$ / AUD	Nov. 30, 2014USD ($)$ / AUD	Apr. 30, 2012AUD$ / AUD	Apr. 30, 2012USD ($)$ / AUD	Mar. 31, 2011USD ($)$ / £	Mar. 31, 2011GBP (£)$ / £	Jun. 30, 2010USD ($)
Property Subject to or Available for Operating Lease
Gain on sale of investment real estate			$ 15,756	$ 55	$ 0	$ (1,127)	$ 64,003	$ 0	$ 0	$ 0	$ 14,684	$ 64,003	$ 0
17600 Gillette
Property Subject to or Available for Operating Lease
Contract sales price, real estate			$ 30,900								30,900
Contract purchase price, real estate																					$ 20,400
Gain on sale of investment real estate											$ 15,800
144 Montague
Property Subject to or Available for Operating Lease
Contract sales price, real estate															AUD 93	$ 79,300
Contract purchase price, real estate																	AUD 88.1	$ 91,300
Foreign currency exchange rate, translation (usd per AUD; usd per GBP) | $ / AUD															0.83	0.83	1.04	1.04
Gain on sale of investment real estate		$ 1,800
Stonecutter Court
Property Subject to or Available for Operating Lease
Contract sales price, real estate	$ 175,600						$ 175,600					$ 175,600		£ 112
Contract purchase price, real estate																			$ 145,600	£ 90.9
Foreign currency exchange rate, translation (usd per AUD; usd per GBP) | $ / £	1.57						1.57					1.57		1.57					1.60	1.60
Gain on sale of investment real estate	$ 61,100

Investment Property (Intangible

Investment Property (Intangible Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Finite Lived Intangible Assets
Net	$ 672,784	$ 743,465
Out-of-Market Lease Liabilities, Cost	(123,124)	(104,528)
Out-of-Market Lease Liabilities, Less: accumulated amortization	27,428	20,143
Out-of-Market Lease Liabilities, Net	(95,696)	(84,385)
In-Place Leases
Finite Lived Intangible Assets
Cost	894,110	890,495
Less: accumulated amortization	(286,903)	(221,316)
Net	607,207	669,179
Out-of-Market Lease Liabilities
Finite Lived Intangible Assets
Cost	108,660	110,649
Less: accumulated amortization	(43,083)	(36,363)
Net	$ 65,577	$ 74,286

Investment Property (Intangib53

Investment Property (Intangible Assets Amortization) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
In-Place Leases
Finite Lived Intangible Assets
Amortization of lease intangibles	$ 115,700	$ 127,200	$ 92,500
In-Place Leases
2,016	99,259
2,017	77,836
2,018	60,508
2,019	48,454
2,020	38,523
Out-of-Market Leases, Net
Finite Lived Intangible Assets
Amortization of lease intangibles	2,800	$ 5,400	$ 6,000
Out-of-Market Leases, Net
2,016	1,274
2,017	(137)
2,018	(1,971)
2,019	(3,332)
2,020	$ (2,924)

Investment Property (Future Min

Investment Property (Future Minimum Rent) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Operating Leases Future Minimum Payments Receivable
2,016	$ 332,787
2,017	318,685
2,018	261,922
2,019	236,311
2,020	210,363
Thereafter	1,272,890
Total	2,632,958
Future Minimum Service Rentals Fiscal Year Maturity
2,016	3,800
2,017	3,800
2,018	3,600
2,019	1,500
2,020	1,200
Thereafter	$ 3,200

Recent Acquisitions of Real E55

Recent Acquisitions of Real Estate (Business Combinations Narratives) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)property	Dec. 31, 2014USD ($)property	Dec. 31, 2013USD ($)property	Dec. 31, 2012USD ($)	Dec. 30, 2015ft²	Dec. 03, 2015ft²	Apr. 30, 2015ft²	Jan. 07, 2015ft²
Business Acquisition
Number of real estate properties acquired | property	4	4	13
Aggregate net purchase price | $	$ 544.2	$ 732.9	$ 1,700
Acquisition related expenses and fees excluded from pro forma net loss | $	$ 19.3	47.5
Simon Hegele Logistics Phase II
Business Acquisition
Area of real estate property (sqft) | ft²								236,661
Percentage of Net Rentable Area								38.90%
The Harder German Logistics Portfolio
Business Acquisition
Area of real estate property (sqft) | ft²						677,374
Percentage of Net Rentable Area						52.70%
The Rim Phase V Acquired 4/30/15
Business Acquisition
Area of real estate property (sqft) | ft²							259,316
Percentage of Net Rentable Area							27.80%
The Rim Phase VI Acquired 12/30/15
Business Acquisition
Area of real estate property (sqft) | ft²					28,901
Percentage of Net Rentable Area					3.10%
Prior Year Acquisitions
Business Acquisition
Acquisition related expenses and fees excluded from pro forma net loss | $		$ 47.5	82.1
Two Years Prior Acquisitions
Business Acquisition
Acquisition related expenses and fees excluded from pro forma net loss | $			$ 82.1	$ 28.7

Recent Acquisitions of Real E56

Recent Acquisitions of Real Estate (Details) - USD ($) $ in Thousands

Dec. 30, 2015

Dec. 03, 2015

Mar. 04, 2015

Jan. 07, 2015

Oct. 31, 2014

Mar. 28, 2014

Dec. 09, 2013

Oct. 18, 2013

Aug. 29, 2013

Aug. 12, 2013

Jul. 23, 2013

Jun. 21, 2013

May. 14, 2013

Apr. 30, 2013

Mar. 28, 2013

Mar. 27, 2013

Feb. 28, 2013

Feb. 07, 2013

The Summit

Net Assets Acquired

Building and Improvements

$ 217,974

Land

68,090

In-place Lease Intangible

45,360

Out of market intangible assets

(14,920)

Net Acquisitions

$ 316,504

The Harder German Logistics Portfolio

Net Assets Acquired

Building and Improvements

$ 89,368

Land

16,362

In-place Lease Intangible

15,413

Out of market intangible assets

5,392

Net Acquisitions

$ 126,535

The Rim

Net Assets Acquired

Building and Improvements

$ 135,616

Land

85,240

In-place Lease Intangible

55,620

Out of market intangible assets

(28,690)

Net Acquisitions

$ 247,786

25 Cabot Square

Net Assets Acquired

Building and Improvements

$ 165,121

In-place Lease Intangible

206,640

Out of market intangible assets

(16)

Net Acquisitions

$ 371,745

Simon Hegele Logistics

Net Assets Acquired

Building and Improvements

$ 56,428

Land

13,245

In-place Lease Intangible

9,154

Out of market intangible assets

41

Net Acquisitions

$ 78,868

818 Bourke

Net Assets Acquired

Building and Improvements

$ 82,867

Land

36,487

In-place Lease Intangible

17,082

Out of market intangible assets

(792)

Net Acquisitions

$ 135,644

Mercedes Benz Bank

Net Assets Acquired

Building and Improvements

$ 47,643

Land

11,953

In-place Lease Intangible

7,093

Out of market intangible assets

3,533

Net Acquisitions

$ 70,222

One Westferry Circus

Net Assets Acquired

Building and Improvements

$ 48,874

In-place Lease Intangible

74,693

Out of market intangible assets

1,049

Net Acquisitions

124,616

465 Victoria

Net Assets Acquired

Building and Improvements

48,788

Land

26,566

In-place Lease Intangible

17,712

Out of market intangible assets

(2,233)

Net Acquisitions

$ 90,833

Riverside Center

Net Assets Acquired

Building and Improvements

$ 125,014

Land

45,888

In-place Lease Intangible

30,360

Out of market intangible assets

(4,170)

Net Acquisitions

$ 197,092

New City

Net Assets Acquired

Building and Improvements

$ 115,208

In-place Lease Intangible

46,117

Out of market intangible assets

2,137

Net Acquisitions

$ 163,462

825 Ann

Net Assets Acquired

Building and Improvements

$ 83,802

Land

20,669

In-place Lease Intangible

23,725

Net Acquisitions

$ 128,196

The Campus at Playa Vista

Net Assets Acquired

Building and Improvements

$ 125,567

Land

41,160

In-place Lease Intangible

37,320

Out of market intangible assets

12,580

Net Acquisitions

$ 216,627

Perspective Defense

Net Assets Acquired

Building and Improvements

$ 109,704

Land

29,039

In-place Lease Intangible

22,038

Out of market intangible assets

5,060

Net Acquisitions

$ 165,841

The Markets at Town Center

Net Assets Acquired

Building and Improvements

$ 76,067

Land

52,130

In-place Lease Intangible

19,020

Out of market intangible assets

(12,210)

Net Acquisitions

$ 135,007

The Avenue Murfreesboro

Net Assets Acquired

Building and Improvements

$ 71,990

Land

54,940

In-place Lease Intangible

47,350

Out of market intangible assets

(11,280)

Net Acquisitions

$ 163,000

2300 Main

Net Assets Acquired

Building and Improvements

$ 27,940

Land

3,570

In-place Lease Intangible

7,990

Net Acquisitions

$ 39,500

Fiege Mega Centre

Net Assets Acquired

Building and Improvements

$ 36,005

Land

10,107

In-place Lease Intangible

7,481

Net Acquisitions

$ 53,593

55 M Street

Net Assets Acquired

Building and Improvements

$ 85,277

Land

24,810

In-place Lease Intangible

34,730

Out of market intangible assets

(3,940)

Net Acquisitions

$ 140,877

Recent Acquisitions of Real E57

Recent Acquisitions of Real Estate (Intangible Assets) (Details)

Dec. 30, 2015

Dec. 03, 2015

Apr. 30, 2015

Apr. 01, 2015

Mar. 04, 2015

Jan. 07, 2015

Oct. 31, 2014

Jun. 03, 2014

Mar. 28, 2014

Feb. 13, 2014

Dec. 09, 2013

Oct. 18, 2013

Aug. 29, 2013

Aug. 12, 2013

Jul. 23, 2013

Jun. 21, 2013

May. 14, 2013

Apr. 30, 2013

Mar. 28, 2013

Mar. 27, 2013

Feb. 28, 2013

Feb. 07, 2013

The Summit

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

5 years 7 months 6 days

The Rim Phase V Acquired 4/30/15

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

6 years

The Rim Phase VI Acquired 12/30/15

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

6 years 5 months 23 days

The Rim

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

35 years 3 months 18 days

25 Cabot Square

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

3 years

818 Bourke

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

3 years 1 month 6 days

One Westferry Circus

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

13 years 1 month 6 days

465 Victoria

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

7 years 3 months 18 days

Riverside Center

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

6 years 10 months 24 days

New City

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

3 years

The Campus at Playa Vista

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

7 years 1 month 6 days

Perspective Defense

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

3 years 9 months 18 days

The Markets at Town Center

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

7 years

The Avenue Murfreesboro

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

17 years 2 months 12 days

55 M Street

Acquired Finite-Lived Intangible Assets

Below-Market Lease Liabilities, weighted average amortization period

7 years 3 months 18 days

In-Place Leases | Simon Hegele Logistics Phase II

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

11 years 3 months 18 days

In-Place Leases | The Summit

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years 1 month 6 days

In-Place Leases | The Harder German Logistics Portfolio

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

10 years

In-Place Leases | The Rim Phase V Acquired 4/30/15

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

11 years 3 months 18 days

In-Place Leases | The Rim Phase VI Acquired 12/30/15

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

7 years 9 months

In-Place Leases | The Harder German Logistics Portfolio (Duisburg) [Member]

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

13 years 10 months 13 days

In-Place Leases | The Rim

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

16 years 6 months

In-Place Leases | 25 Cabot Square

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

11 years 8 months 12 days

In-Place Leases | Simon Hegele Logistics Phase I

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

13 years 4 months 24 days

In-Place Leases | 818 Bourke

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

4 years 1 month 6 days

In-Place Leases | Mercedes Benz Bank

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years

In-Place Leases | One Westferry Circus

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

8 years 4 months 24 days

In-Place Leases | 465 Victoria

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

4 years 8 months 12 days

In-Place Leases | Riverside Center

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

6 years 2 months 12 days

In-Place Leases | New City

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

4 years 9 months 18 days

In-Place Leases | 825 Ann

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

9 years 6 months

In-Place Leases | The Campus at Playa Vista

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

6 years 8 months 12 days

In-Place Leases | Perspective Defense

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

3 years 9 months 18 days

In-Place Leases | The Markets at Town Center

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

9 years 4 months 24 days

In-Place Leases | The Avenue Murfreesboro

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

4 years 1 month 6 days

In-Place Leases | 2300 Main

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years 7 months 6 days

In-Place Leases | Fiege Mega Centre

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

10 years 2 months 12 days

In-Place Leases | 55 M Street

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

7 years 1 month 6 days

Out-of-Market Lease Liabilities | The Summit

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

3 years

Out-of-Market Lease Liabilities | The Harder German Logistics Portfolio

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years 8 months 12 days

Out-of-Market Lease Liabilities | The Rim Phase V Acquired 4/30/15

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

9 years 9 months 18 days

Out-of-Market Lease Liabilities | The Rim Phase VI Acquired 12/30/15

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

8 years 6 months 7 days

Out-of-Market Lease Liabilities | The Harder German Logistics Portfolio (Duisburg) [Member]

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

15 years

Out-of-Market Lease Liabilities | The Rim

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

12 years 10 months 24 days

Out-of-Market Lease Liabilities | 25 Cabot Square

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

6 months

Out-of-Market Lease Liabilities | Simon Hegele Logistics Phase I

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

13 years 4 months 24 days

Out-of-Market Lease Liabilities | 818 Bourke

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

3 years 3 months 18 days

Out-of-Market Lease Liabilities | Mercedes Benz Bank

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years

Out-of-Market Lease Liabilities | One Westferry Circus

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

9 years 10 months 24 days

Out-of-Market Lease Liabilities | 465 Victoria

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

5 years 2 months 12 days

Out-of-Market Lease Liabilities | Riverside Center

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

1 year

Out-of-Market Lease Liabilities | New City

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

4 years 3 months 18 days

Out-of-Market Lease Liabilities | The Campus at Playa Vista

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

8 years 7 months 6 days

Out-of-Market Lease Liabilities | Perspective Defense

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

3 years 9 months 18 days

Out-of-Market Lease Liabilities | The Markets at Town Center

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

6 months

Out-of-Market Lease Liabilities | The Avenue Murfreesboro

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

6 years 9 months 18 days

Out-of-Market Lease Liabilities | 55 M Street

Acquired Finite-Lived Intangible Assets

Lease Assets, weighted average amortization period

7 years 9 months 18 days

Recent Acquisitions of Real E58

Recent Acquisitions of Real Estate (Income From Acquisition) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Simon Hegele Logistics
Business Acquisition
Revenue of acquiree since acquisition date	$ 5,336
Net income (loss) of acquiree since acquisition date	48
The Summit
Business Acquisition
Revenue of acquiree since acquisition date	21,756
Net income (loss) of acquiree since acquisition date	439
The Harder German Logistics Portfolio
Business Acquisition
Revenue of acquiree since acquisition date	3,766
Net income (loss) of acquiree since acquisition date	(8,762)
The Rim
Business Acquisition
Revenue of acquiree since acquisition date	23,458	$ 17,240
Net income (loss) of acquiree since acquisition date	$ 2,853	369
25 Cabot Square
Business Acquisition
Revenue of acquiree since acquisition date		26,666
Net income (loss) of acquiree since acquisition date		(16,639)
Simon Hegele Logistics Phase I
Business Acquisition
Revenue of acquiree since acquisition date		2,110
Net income (loss) of acquiree since acquisition date		(3,974)
818 Bourke
Business Acquisition
Revenue of acquiree since acquisition date		1,980
Net income (loss) of acquiree since acquisition date		$ (7,700)
Mercedes Benz Bank
Business Acquisition
Revenue of acquiree since acquisition date			$ 5,752
Net income (loss) of acquiree since acquisition date			(4,781)
One Westferry Circus
Business Acquisition
Revenue of acquiree since acquisition date			11,938
Net income (loss) of acquiree since acquisition date			(6,717)
465 Victoria
Business Acquisition
Revenue of acquiree since acquisition date			7,403
Net income (loss) of acquiree since acquisition date			(5,576)
Riverside Center
Business Acquisition
Revenue of acquiree since acquisition date			15,854
Net income (loss) of acquiree since acquisition date			2,468
New City
Business Acquisition
Revenue of acquiree since acquisition date			11,509
Net income (loss) of acquiree since acquisition date			(4,167)
825 Ann
Business Acquisition
Revenue of acquiree since acquisition date			7,724
Net income (loss) of acquiree since acquisition date			(7,318)
The Campus at Playa Vista
Business Acquisition
Revenue of acquiree since acquisition date			12,815
Net income (loss) of acquiree since acquisition date			1,244
Perspective Defense
Business Acquisition
Revenue of acquiree since acquisition date			8,325
Net income (loss) of acquiree since acquisition date			(12,035)
The Markets at Town Center
Business Acquisition
Revenue of acquiree since acquisition date			5,654
Net income (loss) of acquiree since acquisition date			2,482
The Avenue Murfreesboro
Business Acquisition
Revenue of acquiree since acquisition date			5,423
Net income (loss) of acquiree since acquisition date			(191)
2300 Main
Business Acquisition
Revenue of acquiree since acquisition date			1,428
Net income (loss) of acquiree since acquisition date			(146)
Fiege Mega Centre
Business Acquisition
Revenue of acquiree since acquisition date			877
Net income (loss) of acquiree since acquisition date			(3,353)
55 M Street
Business Acquisition
Revenue of acquiree since acquisition date			799
Net income (loss) of acquiree since acquisition date			$ (2,501)

Recent Acquisitions of Real E59

Recent Acquisitions of Real Estate (Pro Forma Information) (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition Pro Forma Information
Revenues	$ 486,274	$ 491,187
Net income (loss)	$ 13,854	$ 58,514
Basic and diluted income (loss) per common share (usd per share)	$ 0.03	$ 0.20
Prior Year Acquisitions
Business Acquisition Pro Forma Information
Revenues		$ 477,692	$ 392,489
Net income (loss)		$ 56,503	$ (20,717)
Basic and diluted income (loss) per common share (usd per share)		$ 0.21	$ (0.11)
Two Years Prior Acquisitions
Business Acquisition Pro Forma Information
Revenues			$ 388,133	$ 348,012
Net income (loss)			$ (21,472)	$ (31,255)
Basic and diluted income (loss) per common share (usd per share)			$ (0.12)	$ (0.20)

Real Estate Loans Receivable (D

Real Estate Loans Receivable (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Loans and Leases Receivable, Net Amount
Less: Origination fees	$ 15,600	$ 12,900
Total Real Estate Loans Receivable	55,280	74,400
Proceeds from collection of real estate loans receivable	$ 33,569	19,447	$ 12,397
Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.22%
Total Loan Commitment	$ 69,482
Loans receivable, gross	38,795	59,754
Less: Origination fees	(128)	(640)
Total Real Estate Loans Receivable	$ 38,667	59,114
@1377 Development
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	10.00%
Total Loan Commitment	$ 3,962
Total Real Estate Loans Receivable	$ 3,962	3,962
The Rim
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	8.50%
Total Loan Commitment	$ 20,750
Total Real Estate Loans Receivable	12,651	11,324
Proceeds from collection of real estate loans receivable	$ 9,400
Houston Retail Portfolio | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.60%
Total Loan Commitment	$ 11,804
Loans receivable, gross	$ 0	11,457
Motor Circle | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	8.00%
Total Loan Commitment	$ 3,175
Loans receivable, gross	$ 0	2,423
Falls of Kirkwood | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	8.00%
Total Loan Commitment	$ 6,300
Loans receivable, gross	$ 4,964	6,222
Falls of Town Park Apartment | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.75%
Total Loan Commitment	$ 5,327
Loans receivable, gross	$ 0	5,227
Precinct Villages | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	8.50%
Total Loan Commitment	$ 2,595
Loans receivable, gross	$ 1,793	1,811
Manor Palms | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.00%
Total Loan Commitment	$ 4,109
Loans receivable, gross	$ 0	3,979
Randalls | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	6.25%
Total Loan Commitment	$ 10,939
Loans receivable, gross	$ 8,747	8,110
Finesilver | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	6.45%
Total Loan Commitment	$ 7,233
Loans receivable, gross	$ 5,684	5,165
Dymaxion Apartments | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.60%
Total Loan Commitment	$ 8,500
Loans receivable, gross	$ 8,288	7,684
Marbach Park Apartments | Flagship Capital Joint Venture
Loans and Leases Receivable, Net Amount
Interest Rate (percent)	7.60%
Total Loan Commitment	$ 9,500
Loans receivable, gross	$ 9,319	$ 7,676

Debt Financing (Details)

Debt Financing (Details) - USD ($)	1 Months Ended	3 Months Ended	12 Months Ended
	Jun. 30, 2015	Mar. 28, 2016	Dec. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Apr. 30, 2014	Jul. 31, 2012	Apr. 30, 2012
Debt Instrument
Principal Outstanding			$ 2,557,744,000	$ 2,112,642,000
Debt, weighted average years to maturity			3 years 3 months 26 days	2 years 9 months
Debt, weighted average interest rate (percent)			2.30%	2.90%
Notes payable, subject to interest rate swap				$ 236,000,000
Debt instrument, description of variable rate basis				LIBOR, EURIBOR or the BBSY screen rate
Minimum
Debt Instrument
Derivative, cap interest rate (percent)			1.30%
Minimum | LIBOR
Debt Instrument
Debt instrument, basis spread on variable rate (percent)				0.70%
Maximum
Debt Instrument
Derivative, cap interest rate (percent)			4.50%
Maximum | LIBOR
Debt Instrument
Debt instrument, basis spread on variable rate (percent)				2.50%
JP Morgan Revolving Credit Facility
Debt Instrument
Credit agreement, current borrowing capacity	$ 425,000,000
Foreign currency commitments, maximum borrowing capacity						$ 400,000,000		$ 212,500,000
Credit facility, maximum borrowing capacity						750,000,000
Credit facility, period of extension options	1 year
Principal Outstanding, LOC			$ 327,000,000	$ 122,894,000
JP Morgan Chase Revolving Credit Facility - Term Loan
Debt Instrument
Credit agreement, current borrowing capacity	$ 495,000,000					378,000,000		$ 200,000,000
Credit facility, maximum borrowing capacity						250,000,000
Principal Outstanding, LOC			495,000,000	$ 378,000,000
Revolving Credit Facility (Including Revolving and Term Loans)
Debt Instrument
Credit agreement, current borrowing capacity	920,000,000
Credit facility, maximum borrowing capacity	$ 1,250,000,000					$ 1,000,000,000
Credit facility, additional borrowings			1,200,000,000
Credit facility, repayments			891,700,000
Gain (loss) on foreign currency borrowings			200,000
Revolving Credit Facility (Including Revolving and Term Loans) | Subsequent Event
Debt Instrument
Credit facility, additional borrowings		$ 34,000,000
Credit facility, repayments		15,000,000
Principal Outstanding, LOC		$ 841,000,000
Interest Rate Cap
Debt Instrument
Debt Instrument Principal Amount Capped			$ 982,300,000
Interest Rate Cap | Revolving Credit Facility (Including Revolving and Term Loans)
Debt Instrument
Notional Amount					$ 250,000,000
Interest Rate Cap | Revolving Credit Facility (Including Revolving and Term Loans) | Minimum
Debt Instrument
Derivative, cap interest rate (percent)					0.75%
Interest Rate Cap | Revolving Credit Facility (Including Revolving and Term Loans) | Maximum
Debt Instrument
Derivative, cap interest rate (percent)					2.25%
Affiliated Entity | Aviva Coral Gables JV | Construction Loan Payable
Debt Instrument
Construction loan, maximum commitment							$ 20,100,000

Debt Financing Schedule of Long

Debt Financing Schedule of Long Term Debt (Details)	Nov. 30, 2015USD ($)extension	Nov. 03, 2015USD ($)extension	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)instrument	Dec. 31, 2014USD ($)
Debt Instrument
Principal Outstanding			$ 2,557,744,000		$ 2,112,642,000
Unamortized Premium/ (Discount)			105,000		(283,000)
Unamortized Deferred Financing Fees			(12,193,000)		(11,421,000)
Notes Payable			2,545,656,000		2,100,938,000
Notes payable to affiliates			0		17,601,000
Notes Payable Including Related Party			$ 2,545,656,000		2,118,539,000
Minimum
Debt Instrument
Derivative, cap interest rate (percent)			1.30%
Maximum
Debt Instrument
Derivative, cap interest rate (percent)			4.50%
JP Morgan Revolving Credit Facility
Debt Instrument
Interest Rate, LOC (percent)			1.99%
Principal Outstanding, LOC			$ 327,000,000		122,894,000
JP Morgan Chase Revolving Credit Facility - Term Loan
Debt Instrument
Interest Rate, LOC (percent)			1.98%
Principal Outstanding, LOC			$ 495,000,000		378,000,000
Revolving Credit Facility (Including Revolving and Term Loans) | Interest Rate Cap
Debt Instrument
Derivative, number of instruments held | instrument				2
Notional Amount				$ 250,000,000
Revolving Credit Facility (Including Revolving and Term Loans) | Minimum | Interest Rate Cap
Debt Instrument
Derivative, cap interest rate (percent)				0.75%
Revolving Credit Facility (Including Revolving and Term Loans) | Maximum | Interest Rate Cap
Debt Instrument
Derivative, cap interest rate (percent)				2.25%
Brindleyplace JV | Secured Debt
Debt Instrument
Interest Rate (percent)			2.01%
Principal Outstanding			$ 179,197,000		188,034,000
Hock Plaza | Secured Debt
Debt Instrument
Principal Outstanding			$ 0		75,657,000
Southpark | Secured Debt
Debt Instrument
Interest Rate (percent)			5.67%
Principal Outstanding			$ 18,000,000		18,000,000
50 South Sixth | Secured Debt
Debt Instrument
Interest Rate (percent)			1.84%
Principal Outstanding			$ 125,000,000		95,000,000
Debt Instrument, face amount		$ 125,000,000
Notes payable, number of extension options | extension		2
Notes payable, period of extension options		12 months
Gogolevsky 11 | Secured Debt
Debt Instrument
Principal Outstanding			$ 0		35,100,000
Flagship Capital Joint Venture | Secured Debt
Debt Instrument
Interest Rate, LOC (percent)			4.25%
Principal Outstanding, LOC			$ 14,943,000		25,162,000
100 Brookes Street | Secured Debt
Debt Instrument
Interest Rate (percent)			4.61%
Principal Outstanding			$ 31,546,000		35,254,000
Poland Logistics Portfolio | Secured Debt
Debt Instrument
Interest Rate (percent)			2.00%
Principal Outstanding			$ 67,601,000		76,797,000
Minneapolis Retail Center | Secured Debt
Debt Instrument
Interest Rate (percent)			3.50%
Principal Outstanding			$ 65,500,000		65,500,000
825 Ann | Secured Debt
Debt Instrument
Interest Rate (percent)			2.88%
Principal Outstanding			$ 59,139,000		66,091,000
Mercedes Benz Bank | Secured Debt
Debt Instrument
Interest Rate (percent)			1.52%
Principal Outstanding			$ 36,719,000		41,346,000
465 Victoria | Secured Debt
Debt Instrument
Interest Rate (percent)			3.63%
Principal Outstanding			$ 38,831,000		43,396,000
New City | Secured Debt
Debt Instrument
Interest Rate (percent)			2.30%
Principal Outstanding			$ 83,978,000		95,934,000
One Westferry Circus | Secured Debt
Debt Instrument
Interest Rate (percent)			3.30%
Principal Outstanding			$ 71,050,000		74,554,000
The Campus at Playa Vista | Secured Debt
Debt Instrument
Interest Rate (percent)			1.65%
Principal Outstanding			$ 150,000,000		115,000,000
Debt Instrument, face amount	$ 150,000,000
Notes payable, number of extension options | extension	2
Notes payable, period of extension options	12 months
Perspective Defense | Secured Debt
Debt Instrument
Interest Rate (percent)			2.45%
Principal Outstanding			$ 76,342,000		85,085,000
Fiege Mega Centre | Secured Debt
Debt Instrument
Interest Rate (percent)			1.66%
Principal Outstanding			$ 25,135,000		28,373,000
55 M Street | Secured Debt
Debt Instrument
Interest Rate (percent)			1.88%
Principal Outstanding			$ 72,000,000		72,000,000
25 Cabot Square | Secured Debt
Debt Instrument
Interest Rate (percent)			3.50%
Principal Outstanding			$ 183,175,000		192,209,000
Simon Hegele Logistics | Secured Debt
Debt Instrument
Interest Rate (percent)			1.90%
Principal Outstanding			$ 38,940,000		26,106,000
818 Bourke | Secured Debt
Debt Instrument
Interest Rate (percent)			2.86%
Principal Outstanding			$ 64,952,000		74,627,000
The Summit | Secured Debt
Debt Instrument
Interest Rate (percent)			1.80%
Principal Outstanding			$ 170,000,000		0
The Harder German Logistics Portfolio | Secured Debt
Debt Instrument
Interest Rate (percent)			0.95%
Principal Outstanding			$ 76,106,000		0
WaterWall Place JV | Construction Loan Payable
Debt Instrument
Interest Rate (percent)			2.02%
Principal Outstanding			$ 44,897,000		44,092,000
Aviva Coral Gables JV | Construction Loan Payable
Debt Instrument
Interest Rate (percent)			2.66%
Principal Outstanding			$ 42,693,000		38,431,000
Aviva Coral Gables JV | Affiliated Entity | Construction Loan Payable
Debt Instrument
Notes payable to affiliates			$ 0		$ 17,601,000

Debt Financing (Principal Payme

Debt Financing (Principal Payment Schedule By Year) (Details) $ in Thousands	Dec. 31, 2015USD ($)
Principal Payments
2,016	$ 204,952
2,017	154,025
2,018	527,078
2,019	1,175,956
2,020	255,374
Thereafter	$ 240,359

Derivative Instruments (Details

Derivative Instruments (Details) - Not Designated as Hedging Instrument - Interest Rate Cap - USD ($) $ in Thousands	Jul. 31, 2016	Jan. 31, 2016	Dec. 31, 2015
LIBOR | Interest Rate Cap Effective January 7, 2013 | Water Wall Place
Derivatives
Notional Amount			$ 45,500
Derivative, cap interest rate (percent)			1.25%
LIBOR | Interest Rate Cap Effective September 5, 2014 | Aviva Coral Gables
Derivatives
Notional Amount			$ 46,191
Derivative, cap interest rate (percent)			2.00%
LIBOR | Interest Rate Cap Effective September 5, 2014 | Aviva Coral Gables | Scenario, Forecast
Derivatives
Derivative, cap interest rate (percent)		3.25%
LIBOR | Interest Rate Cap Effective March 27, 2015, Contract One | JP Morgan Chase
Derivatives
Notional Amount			$ 250,000
Derivative, cap interest rate (percent)			2.25%
LIBOR | Interest Rate Cap Effective March 27, 2015, Contract Two | JP Morgan Chase
Derivatives
Notional Amount			$ 250,000
Derivative, cap interest rate (percent)			2.25%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective August 2, 2012 | Poland Logistics Portfolio
Derivatives
Notional Amount			$ 51,103
Derivative, cap interest rate (percent)			2.00%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective October 9, 2012 | Poland Logistics Portfolio
Derivatives
Notional Amount			$ 10,649
Derivative, cap interest rate (percent)			2.00%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective June 30, 2017 | Poland Logistics Portfolio
Derivatives
Notional Amount			$ 58,749
Derivative, cap interest rate (percent)			2.00%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective March 11, 2013 | Mercedes Benz Bank
Derivatives
Notional Amount			$ 36,814
Derivative, cap interest rate (percent)			1.50%
Euro Interbank Offered Rate (Euribor) | Interest Rate Caps Effective April 11, 2013 and May 6, 2013 | New City
Derivatives
Notional Amount			$ 58,624
Derivative, cap interest rate (percent)			2.50%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective July 25, 2013 | Perspective Defense
Derivatives
Notional Amount			$ 76,343
Derivative, cap interest rate (percent)			1.70%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective July 25, 2013 | Perspective Defense | Scenario, Forecast
Derivatives
Derivative, cap interest rate (percent)	2.00%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective October 18, 2013 | Fiege Mega Centre
Derivatives
Notional Amount			$ 25,134
Derivative, cap interest rate (percent)			2.00%
Euro Interbank Offered Rate (Euribor) | Interest Rate Cap Effective March 31, 2015 | The Harder Logistics Portfolio
Derivatives
Notional Amount			$ 34,097
Derivative, cap interest rate (percent)			1.50%
Bank Bill Swap Rate (BBSW) | Interest Rate Cap Effective March 20, 2013 | 465 Victoria
Derivatives
Notional Amount			$ 20,143
Derivative, cap interest rate (percent)			4.33%
Bank Bill Swap Rate (BBSW) | Interest Rate Cap Effective July 30, 2013 | 825 Ann
Derivatives
Notional Amount			$ 44,355
Derivative, cap interest rate (percent)			4.50%
Bank Bill Swap Rate (BBSW) | Interest Rate Cap Effective April 29, 2016 | 825 Ann
Derivatives
Notional Amount			$ 29,570
Derivative, cap interest rate (percent)			3.25%
Bank bill swap bid rate (bbsy) | Interest Rate Cap Effective November 27, 2014 | 818 Bourke
Derivatives
Notional Amount			$ 33,389
Derivative, cap interest rate (percent)			4.00%

Derivative Instruments (Fair Va

Derivative Instruments (Fair Value on Balance Sheet) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
Derivative Assets	$ 675	$ 14,661
Derivative Liabilities	0	(9,848)
Interest Rate Swap
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
Derivative Assets	0	0
Derivative Liabilities	0	(2,684)
Interest Rate Cap
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
Derivative Assets	675	345
Derivative Liabilities	0	0
Forward Contracts
Derivative Asset, Fair Value, Amount Not Offset Against Collateral
Derivative Assets	0	14,316
Derivative Liabilities	$ 0	$ (7,164)

Derivative Instruments (Stateme

Derivative Instruments (Statement of Operations Gain Loss) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Derivative, Gain (Loss) on Derivative, Net
Gain (Loss) on Derivative Instruments	$ 562	$ 7,322	$ 9,909
Interest Rate Swap
Derivative, Gain (Loss) on Derivative, Net
Gain (Loss) on Derivative Instruments	2,661	4,122	5,910
Interest Rate Cap
Derivative, Gain (Loss) on Derivative, Net
Gain (Loss) on Derivative Instruments	(2,099)	(4,131)	(828)
Forward Contracts
Derivative, Gain (Loss) on Derivative, Net
Gain (Loss) on Derivative Instruments	$ 0	$ 7,331	$ 4,827

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended			27 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Mar. 31, 2016
Distributions
Cash Distributions, Stockholders	$ 83,481	$ 79,555	$ 56,702
Distributions Reinvested, Stockholders	93,812	91,530	63,062
Total Declared, Stockholders	177,293	171,085	119,764
Total Declared, Noncontrolling Interests	4,221	4,668	3,331
Moorfield
Distributions
Total Declared, Noncontrolling Interests	$ 3,400	$ 4,300	$ 2,800
Subsequent Event
Distributions
Distributions declared, per share, per day (in dollars per share)				$ 0.0017808

Related Party Transactions (by

Related Party Transactions (by Category) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Related Party Transaction
Due to affiliates	$ 14,469	$ 14,106
Dealer Manager | Selling Commissions
Related Party Transaction
Related party transaction, expenses	0	27,021	$ 56,259
Due to affiliates	0	0
Dealer Manager | Dealer Manager Fee
Related Party Transaction
Related party transaction, expenses	0	9,334	19,321
Due to affiliates	0	0
The Advisor | Issuer Costs
Related Party Transaction
Related party transaction, expenses	61	1,975	7,137
Due to affiliates	0	0
The Advisor | Disposition Fee
Related Party Transaction
Related party transaction, expenses	309	2,543	0
Due to affiliates	309	0
The Advisor | Other
Related Party Transaction
Related party transaction, expenses	6,768	6,713	5,216
Due to affiliates	1,574	1,657
The Advisor and Affiliate of Hines | Acquisition Fee
Related Party Transaction
Related party transaction, expenses	8,797	18,188	40,136
Due to affiliates	0	1,492
The Advisor and Affiliate of Hines | Asset Management Fee
Related Party Transaction
Related party transaction, expenses	35,725	34,881	20,354
Due to affiliates	8,493	8,402
Hines | Property Management Fees
Related Party Transaction
Related party transaction, expenses	7,518	6,680	5,599
Due to affiliates	(12)	159
Hines | Construction Management Fees
Related Party Transaction
Related party transaction, expenses	132	2,556	4,010
Due to affiliates	27	35
Hines | Leasing Fees
Related Party Transaction
Related party transaction, expenses	4,446	2,138	3,371
Due to affiliates	3,417	1,363
Hines | Redevelopment Construction Management Fees
Related Party Transaction
Related party transaction, expenses	0	9	0
Due to affiliates	0	0
Hines | Expense Reimbursements
Related Party Transaction
Related party transaction, expenses	11,098	10,777	$ 7,074
Due to affiliates	$ 661	$ 998

Related Party Transactions (Nar

Related Party Transactions (Narrative) (Details) $ in Thousands	Apr. 01, 2015	Mar. 31, 2015	Mar. 31, 2012	Dec. 31, 2015USD ($)fiscal_quarter	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)	Dec. 31, 2014USD ($)	Jun. 30, 2012USD ($)
Related Party Transaction
Real estate loans receivable				$ 55,280	$ 74,400		$ 74,400
The Advisor and Affiliate of Hines | Acquisition Fee
Related Party Transaction
Related party fee, percentage	0.50%	2.25%
Related party transaction, expenses				8,797	18,188	$ 40,136
The Advisor and Affiliate of Hines | Asset Management Fee
Related Party Transaction
Related party transaction, expenses				$ 35,725	34,881	20,354
Hines | Development Management Fees
Related Party Transaction
Related party fee, percentage				3.00%
Hines | Construction Management Fees
Related Party Transaction
Related party fee, percentage				5.00%
Related party transaction, expenses				$ 132	2,556	4,010
Dealer Manager | Selling Commission
Related Party Transaction
Maximum percentage on gross offering proceeds, re-allowed (percent)				7.00%
Related party fee, percentage				7.50%
Dealer Manager | Dealer Manager Fee
Related Party Transaction
Maximum percentage on gross offering proceeds, re-allowed (percent)				1.50%
Related party fee, percentage				2.50%
Dealer Manager | Reimbursements For Distribution And Marketing Related Costs
Related Party Transaction
Related party fee, percentage				1.00%
The Advisor
Related Party Transaction
Related party asset management fee				$ 35,700	34,900	20,400	$ 34,900
Number of consecutive quarters for reimbursement of excess operating expenses | fiscal_quarter				4
Maximum percentage of advisor fees and expenses against gross proceeds (percent)				15.00%
The Advisor | Average Invested Assets
Related Party Transaction
Threshold for reimbursement of excess operating expenses (percent)				2.00%
The Advisor | Modified Net Income
Related Party Transaction
Threshold for reimbursement of excess operating expenses (percent)				25.00%
The Advisor | Disposition Fee
Related Party Transaction
Related party transaction, expenses				$ 309	$ 2,543	$ 0
The Advisor | Asset Management Fee
Related Party Transaction
Asset management fee waiver, percentage					100.00%
The Advisor | Acquisition Fee
Related Party Transaction
Related party fee, percentage			2.00%				2.25%
The Advisor | Asset Management Fee
Related Party Transaction
Related party fee, percentage				0.125%
Asset management fee waiver, percentage				100.00%
The Advisor | Waived Asset Management Fee
Related Party Transaction
Related party asset management fee				$ 12,200
The Advisor | Disposition Fee
Related Party Transaction
Related party fee, percentage				1.00%
The Advisor | Special OP Units
Related Party Transaction
Related party distributions, result of special OP units (percent)				15.00%
Cumulative non-compounded annual pre-tax return (percent)				8.00%
@1377 Development
Related Party Transaction
Mezzanine loan commitment								$ 3,200
Real estate loans receivable				$ 4,000	$ 4,000		$ 4,000

Noncontrolling Interests (Detai

Noncontrolling Interests (Details) £ / shares in Units, $ in Thousands, £ in Millions, shares in Millions	1 Months Ended						12 Months Ended
	Dec. 31, 2014USD ($)shares	Dec. 31, 2014GBP (£)shares	Dec. 31, 2013USD ($)shares	Dec. 31, 2013GBP (£)shares	Dec. 31, 2012USD ($)shares	Dec. 31, 2012GBP (£)£ / sharesshares	Dec. 31, 2015USD ($)	Dec. 31, 2014USD ($)	Dec. 31, 2013USD ($)
Noncontrolling Interest
Contribution from noncontrolling interest							$ 953	$ 3,894	$ 2,594
Distributions declared to noncontrolling interests							4,221	4,668	3,331
Moorfield
Noncontrolling Interest
Distributions declared to noncontrolling interests							3,400	4,300	2,800
WaterWall Place JV | Affiliate of Hines
Noncontrolling Interest
Contribution from noncontrolling interest								1,500
Brindleyplace JV | Moorfield
Noncontrolling Interest
Net income (loss), attributable to noncontrolling interest							2,300	1,500	(300)
Flagship Capital Joint Venture
Noncontrolling Interest
Contribution from noncontrolling interest								400	600
Distributions declared to noncontrolling interests							200	300	500
Aviva Coral Gables JV | Affiliate of Hines
Noncontrolling Interest
Contribution from noncontrolling interest							1,000
Distributions declared to noncontrolling interests							200
Series B3 Convertible Preferred Equity Certificates | Brindleyplace JV
Noncontrolling Interest
Issuance of preferred stock, shares | shares	1.3	1.3	1.2	1.2	2.5	2.5
Contribution from noncontrolling interest	$ 2,000	£ 1.3	$ 2,000	£ 1.2	$ 4,100	£ 2.5
Preferred stock, redemption price (in GBP per share) | £ / shares						£ 1
Series B3 Convertible Preferred Equity Certificates | Brindleyplace JV | Moorfield
Noncontrolling Interest
Distributions On Convertible Preferred Equity Certificates							$ 3,400	$ 4,300	$ 2,800

Fair Value Measurements (Detail

Fair Value Measurements (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Financial Liabilities Fair Value Disclosure
Interest rate swaps	$ 0	$ (9,848)
Notes payable, book value	2,545,656	2,118,539
Assets, Fair Value Disclosure
Interest rate caps	675	14,661
Fair Value Measurements Recurring
Financial Liabilities Fair Value Disclosure
Foreign currency forwards - Liabilities	0	(7,164)
Assets, Fair Value Disclosure
Foreign currency forwards - Assets	0	14,316
Fair Value Measurements Recurring | Interest Rate Swap
Financial Liabilities Fair Value Disclosure
Interest rate swaps	0	(2,684)
Fair Value Measurements Recurring | Interest Rate Cap
Assets, Fair Value Disclosure
Interest rate caps	675	345
Fair Value Measurements Recurring | Quoted Prices In Active Markets for Identical Items (Level 1)
Financial Liabilities Fair Value Disclosure
Foreign currency forwards - Liabilities	0	0
Assets, Fair Value Disclosure
Foreign currency forwards - Assets	0	0
Fair Value Measurements Recurring | Quoted Prices In Active Markets for Identical Items (Level 1) | Interest Rate Swap
Financial Liabilities Fair Value Disclosure
Interest rate swaps	0	0
Fair Value Measurements Recurring | Quoted Prices In Active Markets for Identical Items (Level 1) | Interest Rate Cap
Assets, Fair Value Disclosure
Interest rate caps	0	0
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2)
Financial Liabilities Fair Value Disclosure
Foreign currency forwards - Liabilities	0	(7,164)
Assets, Fair Value Disclosure
Foreign currency forwards - Assets	0	14,316
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Swap
Financial Liabilities Fair Value Disclosure
Interest rate swaps	0	(2,684)
Fair Value Measurements Recurring | Significant Other Observable Inputs (Level 2) | Interest Rate Cap
Assets, Fair Value Disclosure
Interest rate caps	675	345
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3)
Financial Liabilities Fair Value Disclosure
Foreign currency forwards - Liabilities	0	0
Assets, Fair Value Disclosure
Foreign currency forwards - Assets	0	0
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Swap
Financial Liabilities Fair Value Disclosure
Interest rate swaps	0	0
Fair Value Measurements Recurring | Significant Unobservable Inputs (Level 3) | Interest Rate Cap
Assets, Fair Value Disclosure
Interest rate caps	0	0
Fair Value Measurements Nonrecurring
Financial Liabilities Fair Value Disclosure
Notes payable, book value	2,600,000	2,100,000
Fair Value Measurements Nonrecurring | Significant Other Observable Inputs (Level 2)
Financial Liabilities Fair Value Disclosure
Notes payable, fair value	$ 2,600,000	$ 2,100,000

Reportable Segments (Narratives

Reportable Segments (Narratives) (Details)	12 Months Ended
	Dec. 31, 2015real_estate_investmentsegment
Segment Reporting Information
Number of Reportable Segments | segment	4
Number of real estate investments	43
Domestic office investments
Segment Reporting Information
Number of real estate investments	11
Domestic other investments
Segment Reporting Information
Number of real estate investments	10
International office investments
Segment Reporting Information
Number of real estate investments	10
International other investments
Segment Reporting Information
Number of real estate investments	12

Reportable Segments (Revenue) (

Reportable Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information
Total Revenue	$ 124,578	$ 119,533	$ 119,683	$ 113,079	$ 115,596	$ 117,705	$ 117,840	$ 105,123	$ 476,873	$ 456,264	$ 322,862
Domestic office investments
Segment Reporting Information
Total Revenue									168,962	145,941	114,480
Domestic other investments
Segment Reporting Information
Total Revenue									119,083	104,753	62,407
International office investments
Segment Reporting Information
Total Revenue									123,010	140,119	90,415
International other investments
Segment Reporting Information
Total Revenue									$ 65,818	$ 65,451	$ 55,560

Reportable Segments (Concentrat

Reportable Segments (Concentration Risk) (Details)	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Revenue | United States
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	60.00%	55.00%	55.00%
Revenue | United Kingdom
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	17.00%	19.00%	15.00%
Revenue | Australia
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	8.00%	8.00%	10.00%
Revenue | Poland
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	5.00%	7.00%	9.00%
Revenue | Russia
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	3.00%	5.00%	6.00%
Revenue | France
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	3.00%	3.00%	3.00%
Revenue | Germany
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	4.00%	3.00%	2.00%
Assets | United States
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	60.00%	56.00%
Assets | United Kingdom
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	16.00%	18.00%
Assets | Australia
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	7.00%	9.00%
Assets | Poland
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	6.00%	7.00%
Assets | Russia
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	1.00%	2.00%
Assets | France
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	3.00%	4.00%
Assets | Germany
Revenues from External Customers and Long-Lived Assets
Concentration risk, percentage	7.00%	4.00%

Reportable Segments (Property R

Reportable Segments (Property Revenue in Excess of Expenses) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting Information
Total property revenues in excess of expenses	$ 327,203	$ 319,163	$ 220,769
Domestic office investments
Segment Reporting Information
Total property revenues in excess of expenses	107,116	91,932	72,547
Domestic other investments
Segment Reporting Information
Total property revenues in excess of expenses	76,835	67,297	39,413
International office investments
Segment Reporting Information
Total property revenues in excess of expenses	97,644	114,586	73,226
International other investments
Segment Reporting Information
Total property revenues in excess of expenses	$ 45,608	$ 45,348	$ 35,583

Reportable Segments (Assets) (D

Reportable Segments (Assets) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014
Revenues from External Customers and Long-Lived Assets
Assets	$ 4,372,946	$ 4,115,173
Domestic office investments
Revenues from External Customers and Long-Lived Assets
Assets	1,503,926	1,225,705
Domestic other investments
Revenues from External Customers and Long-Lived Assets
Assets	1,082,241	1,039,962
International office investments
Revenues from External Customers and Long-Lived Assets
Assets	1,090,483	1,232,534
International other investments
Revenues from External Customers and Long-Lived Assets
Assets	650,168	555,636
Corporate-level accounts
Revenues from External Customers and Long-Lived Assets
Assets	$ 46,128	$ 61,336

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Segment Reporting, Other Significant Reconciling Item
Total property revenues in excess of expenses									$ 327,203	$ 319,163	$ 220,769
Depreciation and amortization									(186,965)	(193,870)	(140,187)
Acquisition related expenses									(10,472)	(29,278)	(42,747)
Asset management and acquisition fees									(44,522)	(53,069)	(60,490)
General and administrative expenses									(8,597)	(6,782)	(5,344)
Gain (loss) on derivatives									562	7,322	9,909
Gain (loss) on sale of real estate investments	$ 15,756	$ 55	$ 0	$ (1,127)	$ 64,003	$ 0	$ 0	$ 0	14,684	64,003	0
Foreign currency gains (losses)									(21,468)	(13,074)	(6,458)
Interest expense									(71,288)	(78,273)	(60,968)
Interest income									427	506	454
Benefit (provision) for income taxes									(4,518)	(5,806)	(701)
Net income (loss)	$ 7,221	$ 2,153	$ (420)	$ (13,908)	$ 51,589	$ 4,178	$ (9,483)	$ (35,442)	(4,954)	10,842	(85,763)
Segment Reconciling Items
Segment Reporting, Other Significant Reconciling Item
Total property revenues in excess of expenses									327,203	319,163	220,769
Depreciation and amortization									(186,965)	(193,870)	(140,187)
Acquisition related expenses									(10,472)	(29,278)	(42,747)
Asset management and acquisition fees									(44,522)	(53,069)	(60,490)
General and administrative expenses									(8,597)	(6,782)	(5,344)
Gain (loss) on derivatives									562	7,322	9,909
Gain (loss) on sale of real estate investments									14,684	64,003	0
Foreign currency gains (losses)									(21,468)	(13,074)	(6,458)
Interest expense									(71,288)	(78,273)	(60,968)
Interest income									427	506	454
Benefit (provision) for income taxes									(4,518)	(5,806)	(701)
Net income (loss)									$ (4,954)	$ 10,842	$ (85,763)

Supplemental Cash Flow Disclo78

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]
Cash paid for interest	$ 66,704	$ 66,592	$ 53,942
Cash paid for income taxes	6,696	4,161	4,742
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	19,837	17,558	14,143
Other receivables	5	0	5,441
Distributions reinvested	93,785	90,198	60,585
Shares tendered for redemption	5,245	5,505	2,287
Non-cash net liabilities acquired	10,516	2,737	12,867
Accrued additions to investment property	$ 883	$ 2,373	$ 8,538

Commitments and Contingencies (

Commitments and Contingencies (Details) - 50 South Sixth - Dorsey and Whitney LLP - USD ($) $ in Millions	Dec. 31, 2015	Nov. 30, 2013
Other Commitments
Tenant improvement, maximum exposure		$ 20.8
Tenant improvement, unfunded amount	$ 11.4

Quarterly Financial Data (Una80

Quarterly Financial Data (Unaudited) (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended								12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Selected Quarterly Financial Information
Revenues	$ 124,578	$ 119,533	$ 119,683	$ 113,079	$ 115,596	$ 117,705	$ 117,840	$ 105,123	$ 476,873	$ 456,264	$ 322,862
Gain (loss) on sale of real estate investments	15,756	55	0	(1,127)	64,003	0	0	0	14,684	64,003	0
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	7,221	2,153	(420)	(13,908)	51,589	4,178	(9,483)	(35,442)	(4,954)	10,842	(85,763)
Net (income) loss attributable to noncontrolling interests	(1,358)	(1,086)	(2,063)	(1,170)	(2,756)	(964)	(1,097)	(947)	(5,677)	(5,764)	(3,173)
Net income (loss) attributable to common stockholders	$ 5,863	$ 1,067	$ (2,483)	$ (15,078)	$ 48,833	$ 3,214	$ (10,580)	$ (36,389)	$ (10,631)	$ 5,078	$ (88,936)
Income (loss) per common share, basic and diluted (in dollars per share)	$ 0.02	$ 0	$ (0.01)	$ (0.06)	$ 0.18	$ 0.01	$ (0.04)	$ (0.15)	$ (0.04)	$ 0.02	$ (0.48)

Schedule II - Valuation and Q81

Schedule II - Valuation and Qualifying Accounts (Details) - Allowance for Doubtful Accounts - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Valuation Allowances and Reserves
Valuation allowances and reserves, beginning balance	$ 1,872	$ 2,011	$ 330
Valuation allowances and reserves, Charged to Costs and Expenses	558	841	2,105
Valuation allowances and reserves, Deductions	(764)	(980)	(424)
Valuation allowances and reserves, ending balance	$ 1,666	$ 1,872	$ 2,011

Schedule III - Real Estate an82

Schedule III - Real Estate and Accumulated Depreciation (Narratives) (Details) $ in Billions	12 Months Ended
	Dec. 31, 2015USD ($)
Real Estate and Accumulated Depreciation
Aggregate cost, federal income tax basis	$ 3.6
Furniture and Fixtures
Real Estate and Accumulated Depreciation
Estimated useful life	10 years
Minimum | Electrical and Mechanical Installations
Real Estate and Accumulated Depreciation
Estimated useful life	15 years
Maximum | Electrical and Mechanical Installations
Real Estate and Accumulated Depreciation
Estimated useful life	20 years
Maximum | Building
Real Estate and Accumulated Depreciation
Estimated useful life	40 years

Schedule III - Real Estate an83

Schedule III - Real Estate and Accumulated Depreciation (Property Table) (Details) - USD ($) $ in Thousands	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate and Accumulated Depreciation
Encumbrances	$ 1,720,801
Initial Cost, Land	733,992
Initial Cost, Buildings and Improvements	2,985,872
Initial Cost, Total	3,719,864
Costs Capitalized Subsequent to Acquisition	(251,676)
Gross Amount at Which Carried at 12/31/2015, Land	691,448
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	2,776,740
Gross Amount at Which Carried at 12/31/2015, Total	3,468,188	$ 3,103,520	$ 2,894,264	$ 1,529,675
Accumulated Depreciation	(200,311)	$ (138,821)	$ (94,414)	$ (47,197)
Brindleyplace Project
Real Estate and Accumulated Depreciation
Encumbrances	179,197
Initial Cost, Land	0
Initial Cost, Buildings and Improvements	207,592
Initial Cost, Total	207,592
Costs Capitalized Subsequent to Acquisition	13,962
Gross Amount at Which Carried at 12/31/2015, Land	0
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	221,554
Gross Amount at Which Carried at 12/31/2015, Total	221,554
Accumulated Depreciation	(29,490)
Hock Plaza
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	1,220
Initial Cost, Buildings and Improvements	69,704
Initial Cost, Total	70,924
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	1,220
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	69,704
Gross Amount at Which Carried at 12/31/2015, Total	70,924
Accumulated Depreciation	(9,262)
Southpark
Real Estate and Accumulated Depreciation
Encumbrances	18,000
Initial Cost, Land	3,920
Initial Cost, Buildings and Improvements	20,507
Initial Cost, Total	24,427
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	3,920
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	20,507
Gross Amount at Which Carried at 12/31/2015, Total	24,427
Accumulated Depreciation	(2,667)
50 South Sixth
Real Estate and Accumulated Depreciation
Encumbrances	125,000
Initial Cost, Land	1,390
Initial Cost, Buildings and Improvements	134,262
Initial Cost, Total	135,652
Costs Capitalized Subsequent to Acquisition	670
Gross Amount at Which Carried at 12/31/2015, Land	1,390
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	134,932
Gross Amount at Which Carried at 12/31/2015, Total	136,322
Accumulated Depreciation	(17,434)
F M Logistic
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	5,320
Initial Cost, Buildings and Improvements	51,588
Initial Cost, Total	56,908
Costs Capitalized Subsequent to Acquisition	(34,076)
Gross Amount at Which Carried at 12/31/2015, Land	2,127
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	20,705
Gross Amount at Which Carried at 12/31/2015, Total	22,832
Accumulated Depreciation	(2,419)
Gogolevsky 11
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	0
Initial Cost, Buildings and Improvements	85,126
Initial Cost, Total	85,126
Costs Capitalized Subsequent to Acquisition	(49,664)
Gross Amount at Which Carried at 12/31/2015, Land	0
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	35,462
Gross Amount at Which Carried at 12/31/2015, Total	35,462
Accumulated Depreciation	(4,375)
250 Royall
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	8,910
Initial Cost, Buildings and Improvements	22,860
Initial Cost, Total	31,770
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	8,910
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	22,860
Gross Amount at Which Carried at 12/31/2015, Total	31,770
Accumulated Depreciation	(2,464)
Campus At Marlborough
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	23,790
Initial Cost, Buildings and Improvements	54,230
Initial Cost, Total	78,020
Costs Capitalized Subsequent to Acquisition	1,335
Gross Amount at Which Carried at 12/31/2015, Land	23,310
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	56,045
Gross Amount at Which Carried at 12/31/2015, Total	79,355
Accumulated Depreciation	(5,799)
Komo Plaza
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	19,560
Initial Cost, Buildings and Improvements	111,182
Initial Cost, Total	130,742
Costs Capitalized Subsequent to Acquisition	4,507
Gross Amount at Which Carried at 12/31/2015, Land	19,560
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	115,689
Gross Amount at Which Carried at 12/31/2015, Total	135,249
Accumulated Depreciation	(11,640)
9320 Excelsior
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	2,730
Initial Cost, Buildings and Improvements	51,110
Initial Cost, Total	53,840
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	2,730
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	51,110
Gross Amount at Which Carried at 12/31/2015, Total	53,840
Accumulated Depreciation	(5,128)
WaterWall Place JV
Real Estate and Accumulated Depreciation
Encumbrances	44,897
Initial Cost, Land	8,229
Initial Cost, Buildings and Improvements	54,825
Initial Cost, Total	63,054
Costs Capitalized Subsequent to Acquisition	1
Gross Amount at Which Carried at 12/31/2015, Land	8,229
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	54,826
Gross Amount at Which Carried at 12/31/2015, Total	63,055
Accumulated Depreciation	(2,854)
Aviva Coral Gables JV
Real Estate and Accumulated Depreciation
Encumbrances	42,693
Initial Cost, Land	12,112
Initial Cost, Buildings and Improvements	48,892
Initial Cost, Total	61,004
Costs Capitalized Subsequent to Acquisition	1,016
Gross Amount at Which Carried at 12/31/2015, Land	12,326
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	49,694
Gross Amount at Which Carried at 12/31/2015, Total	62,020
Accumulated Depreciation	(1,410)
Poland Logistics Portfolio
Real Estate and Accumulated Depreciation
Encumbrances	67,601
Initial Cost, Land	25,893
Initial Cost, Buildings and Improvements	97,627
Initial Cost, Total	123,520
Costs Capitalized Subsequent to Acquisition	(20,531)
Gross Amount at Which Carried at 12/31/2015, Land	20,720
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	82,269
Gross Amount at Which Carried at 12/31/2015, Total	102,989
Accumulated Depreciation	(7,423)
100 Brookes Street
Real Estate and Accumulated Depreciation
Encumbrances	31,546
Initial Cost, Land	8,600
Initial Cost, Buildings and Improvements	41,404
Initial Cost, Total	50,004
Costs Capitalized Subsequent to Acquisition	(14,054)
Gross Amount at Which Carried at 12/31/2015, Land	6,174
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	29,776
Gross Amount at Which Carried at 12/31/2015, Total	35,950
Accumulated Depreciation	(2,580)
Minneapolis Retail Center
Real Estate and Accumulated Depreciation
Encumbrances	65,500
Initial Cost, Land	30,792
Initial Cost, Buildings and Improvements	78,711
Initial Cost, Total	109,503
Costs Capitalized Subsequent to Acquisition	1,970
Gross Amount at Which Carried at 12/31/2015, Land	30,792
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	80,681
Gross Amount at Which Carried at 12/31/2015, Total	111,473
Accumulated Depreciation	(6,803)
550 Terry Francois
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	41,270
Initial Cost, Buildings and Improvements	109,760
Initial Cost, Total	151,030
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	41,270
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	109,760
Gross Amount at Which Carried at 12/31/2015, Total	151,030
Accumulated Depreciation	(9,182)
Mercedes Benz Bank
Real Estate and Accumulated Depreciation
Encumbrances	36,719
Initial Cost, Land	11,953
Initial Cost, Buildings and Improvements	47,643
Initial Cost, Total	59,596
Costs Capitalized Subsequent to Acquisition	(11,351)
Gross Amount at Which Carried at 12/31/2015, Land	9,630
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	38,615
Gross Amount at Which Carried at 12/31/2015, Total	48,245
Accumulated Depreciation	(2,798)
One Westferry Circus
Real Estate and Accumulated Depreciation
Encumbrances	71,050
Initial Cost, Land	0
Initial Cost, Buildings and Improvements	48,874
Initial Cost, Total	48,874
Costs Capitalized Subsequent to Acquisition	(468)
Gross Amount at Which Carried at 12/31/2015, Land	0
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	48,406
Gross Amount at Which Carried at 12/31/2015, Total	48,406
Accumulated Depreciation	(3,467)
465 Victoria
Real Estate and Accumulated Depreciation
Encumbrances	38,831
Initial Cost, Land	26,566
Initial Cost, Buildings and Improvements	48,788
Initial Cost, Total	75,354
Costs Capitalized Subsequent to Acquisition	(21,364)
Gross Amount at Which Carried at 12/31/2015, Land	18,930
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	35,060
Gross Amount at Which Carried at 12/31/2015, Total	53,990
Accumulated Depreciation	(2,480)
Riverside Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	45,888
Initial Cost, Buildings and Improvements	125,014
Initial Cost, Total	170,902
Costs Capitalized Subsequent to Acquisition	288
Gross Amount at Which Carried at 12/31/2015, Land	45,888
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	125,302
Gross Amount at Which Carried at 12/31/2015, Total	171,190
Accumulated Depreciation	(8,647)
New City
Real Estate and Accumulated Depreciation
Encumbrances	83,978
Initial Cost, Buildings and Improvements	115,208
Initial Cost, Total	115,208
Costs Capitalized Subsequent to Acquisition	(19,330)
Gross Amount at Which Carried at 12/31/2015, Land	0
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	95,878
Gross Amount at Which Carried at 12/31/2015, Total	95,878
Accumulated Depreciation	(6,624)
825 Ann
Real Estate and Accumulated Depreciation
Encumbrances	59,139
Initial Cost, Land	20,669
Initial Cost, Buildings and Improvements	83,802
Initial Cost, Total	104,471
Costs Capitalized Subsequent to Acquisition	(30,530)
Gross Amount at Which Carried at 12/31/2015, Land	14,611
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	59,330
Gross Amount at Which Carried at 12/31/2015, Total	73,941
Accumulated Depreciation	(3,953)
The Campus at Playa Vista
Real Estate and Accumulated Depreciation
Encumbrances	150,000
Initial Cost, Land	41,160
Initial Cost, Buildings and Improvements	125,567
Initial Cost, Total	166,727
Costs Capitalized Subsequent to Acquisition	65
Gross Amount at Which Carried at 12/31/2015, Land	41,160
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	125,632
Gross Amount at Which Carried at 12/31/2015, Total	166,792
Accumulated Depreciation	(8,411)
Perspective Defense
Real Estate and Accumulated Depreciation
Encumbrances	76,342
Initial Cost, Land	29,039
Initial Cost, Buildings and Improvements	109,704
Initial Cost, Total	138,743
Costs Capitalized Subsequent to Acquisition	(23,325)
Gross Amount at Which Carried at 12/31/2015, Land	24,157
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	91,261
Gross Amount at Which Carried at 12/31/2015, Total	115,418
Accumulated Depreciation	(5,900)
The Markets at Town Center
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	52,130
Initial Cost, Buildings and Improvements	76,067
Initial Cost, Total	128,197
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	52,130
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	76,067
Gross Amount at Which Carried at 12/31/2015, Total	128,197
Accumulated Depreciation	(4,647)
The Avenue Murfreesboro
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	54,940
Initial Cost, Buildings and Improvements	71,990
Initial Cost, Total	126,930
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	54,940
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	71,990
Gross Amount at Which Carried at 12/31/2015, Total	126,930
Accumulated Depreciation	(4,300)
2300 Main
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	3,570
Initial Cost, Buildings and Improvements	27,940
Initial Cost, Total	31,510
Costs Capitalized Subsequent to Acquisition	0
Gross Amount at Which Carried at 12/31/2015, Land	3,570
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	27,940
Gross Amount at Which Carried at 12/31/2015, Total	31,510
Accumulated Depreciation	(1,636)
Fiege Mega Centre
Real Estate and Accumulated Depreciation
Encumbrances	25,135
Initial Cost, Land	10,107
Initial Cost, Buildings and Improvements	36,005
Initial Cost, Total	46,112
Costs Capitalized Subsequent to Acquisition	(9,320)
Gross Amount at Which Carried at 12/31/2015, Land	8,060
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	28,732
Gross Amount at Which Carried at 12/31/2015, Total	36,792
Accumulated Depreciation	(1,586)
55 M Street
Real Estate and Accumulated Depreciation
Encumbrances	72,000
Initial Cost, Land	24,810
Initial Cost, Buildings and Improvements	85,277
Initial Cost, Total	110,087
Costs Capitalized Subsequent to Acquisition	541
Gross Amount at Which Carried at 12/31/2015, Land	24,810
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	85,818
Gross Amount at Which Carried at 12/31/2015, Total	110,628
Accumulated Depreciation	(4,432)
The Rim
Real Estate and Accumulated Depreciation
Encumbrances	0
Initial Cost, Land	85,240
Initial Cost, Buildings and Improvements	132,855
Initial Cost, Total	218,095
Costs Capitalized Subsequent to Acquisition	3,146
Gross Amount at Which Carried at 12/31/2015, Land	85,240
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	136,001
Gross Amount at Which Carried at 12/31/2015, Total	221,241
Accumulated Depreciation	(4,911)
25 Cabot Square
Real Estate and Accumulated Depreciation
Encumbrances	183,175
Initial Cost, Land	0
Initial Cost, Buildings and Improvements	165,121
Initial Cost, Total	165,121
Costs Capitalized Subsequent to Acquisition	(14,056)
Gross Amount at Which Carried at 12/31/2015, Land	0
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	151,065
Gross Amount at Which Carried at 12/31/2015, Total	151,065
Accumulated Depreciation	(6,525)
Simon Hegele Logistics
Real Estate and Accumulated Depreciation
Encumbrances	38,940
Initial Cost, Land	13,245
Initial Cost, Buildings and Improvements	56,428
Initial Cost, Total	69,673
Costs Capitalized Subsequent to Acquisition	(11,053)
Gross Amount at Which Carried at 12/31/2015, Land	11,113
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	47,507
Gross Amount at Which Carried at 12/31/2015, Total	58,620
Accumulated Depreciation	(1,590)
818 Bourke
Real Estate and Accumulated Depreciation
Encumbrances	64,952
Initial Cost, Land	36,487
Initial Cost, Buildings and Improvements	82,867
Initial Cost, Total	119,354
Costs Capitalized Subsequent to Acquisition	(21,267)
Gross Amount at Which Carried at 12/31/2015, Land	29,930
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	68,157
Gross Amount at Which Carried at 12/31/2015, Total	98,087
Accumulated Depreciation	(1,984)
The Summit
Real Estate and Accumulated Depreciation
Encumbrances	170,000
Initial Cost, Land	68,090
Initial Cost, Buildings and Improvements	217,974
Initial Cost, Total	286,064
Costs Capitalized Subsequent to Acquisition	210
Gross Amount at Which Carried at 12/31/2015, Land	68,089
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	218,185
Gross Amount at Which Carried at 12/31/2015, Total	286,274
Accumulated Depreciation	(4,645)
Harder Logistics Portfolio
Real Estate and Accumulated Depreciation
Encumbrances	76,106
Initial Cost, Land	16,362
Initial Cost, Buildings and Improvements	89,368
Initial Cost, Total	105,730
Costs Capitalized Subsequent to Acquisition	1,002
Gross Amount at Which Carried at 12/31/2015, Land	16,512
Gross Amount at Which Carried at 12/31/2015, Buildings and Improvements	90,220
Gross Amount at Which Carried at 12/31/2015, Total	106,732
Accumulated Depreciation	$ (845)

Schedule III - Real Estate an84

Schedule III - Real Estate and Accumulated Depreciation (Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Reconciliation of Carrying Amount of Real Estate Investments
Balance, beginning of period	$ 3,103,520	$ 2,894,264	$ 1,529,675
Acquisitions	479,628	484,499	1,322,485
Other additions	10,905	45,879	61,259
Disposals of fully-depreciated assets	(38)	(23)
Costs of real estate sold	(10,101)	(139,539)
Effect of changes in foreign currency exchange rates	(115,726)	(181,560)	(19,155)
Balance, end of period	3,468,188	3,103,520	2,894,264
Reconciliation of Real Estate Accumulated Depreciation
Balance, beginning of period	(138,821)	(94,414)	(47,197)
Depreciation	(68,722)	(64,846)	(46,973)
Effect of changes in foreign currency exchange rates	6,184	9,573	(244)
Disposals of fully-depreciated assets	38	23
Retirement or sales of assets	1,010	10,843
Balance, end of period	$ (200,311)	$ (138,821)	$ (94,414)

Schedule IV - Mortgage Loans 85

Schedule IV - Mortgage Loans on Real Estate (By Loan) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Mortgage Loans on Real Estate
Aggregate cost, federal income tax basis	$ 55,400
Proceeds from collection of real estate loans receivable	33,569	$ 19,447	$ 12,397
Construction Loans
Mortgage Loans on Real Estate
Prior Liens	0
Face Amount of Mortgages	69,779
Carrying Amount of Mortgages	$ 55,408
Construction Loans | Multi-family | @ 1377 Development
Mortgage Loans on Real Estate
Location	Atlanta, GA
Interest Rate (percent)	10.00%
Prior Liens	$ 0
Face Amount of Mortgages	3,962
Carrying Amount of Mortgages	$ 3,962
Construction Loans | Multi-family | Falls of Kirkwood
Mortgage Loans on Real Estate
Location	Houston, TX
Interest Rate (percent)	8.00%
Prior Liens	$ 0
Face Amount of Mortgages	6,300
Carrying Amount of Mortgages	$ 4,964
Amortization period	30 years
Construction Loans | Multi-family | Dymaxion Apartments
Mortgage Loans on Real Estate
Location	San Antonio, TX
Interest Rate (percent)	7.60%
Prior Liens	$ 0
Face Amount of Mortgages	8,500
Carrying Amount of Mortgages	$ 8,288
Amortization period	25 years
Construction Loans | Multi-family | Marbach Park Apartments
Mortgage Loans on Real Estate
Location	San Antonio, TX
Interest Rate (percent)	7.60%
Prior Liens	$ 0
Face Amount of Mortgages	9,500
Carrying Amount of Mortgages	$ 9,319
Amortization period	25 years
Construction Loans | Office | Finesilver
Mortgage Loans on Real Estate
Location	San Antonio, TX
Interest Rate (percent)	6.45%
Prior Liens	$ 0
Face Amount of Mortgages	7,233
Carrying Amount of Mortgages	$ 5,684
Amortization period	25 years
Construction Loans | Shopping Centers | Precinct Villages
Mortgage Loans on Real Estate
Location	North Richland Hills, TX
Interest Rate (percent)	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	2,595
Carrying Amount of Mortgages	$ 1,793
Amortization period	25 years
Construction Loans | Shopping Centers | Randalls
Mortgage Loans on Real Estate
Location	Pasadena and Friendswood, TX
Interest Rate (percent)	6.25%
Prior Liens	$ 0
Face Amount of Mortgages	10,939
Carrying Amount of Mortgages	$ 8,747
Amortization period	25 years
Mortgage Loans on Real Estate, Amortization Period, Interest-only Payments	18 months
Construction Loans | Shopping Centers | The Rim
Mortgage Loans on Real Estate
Location	San Antonio, TX
Interest Rate (percent)	8.50%
Prior Liens	$ 0
Face Amount of Mortgages	20,750
Carrying Amount of Mortgages	$ 12,651
The Rim
Mortgage Loans on Real Estate
Interest Rate (percent)	8.50%
Proceeds from collection of real estate loans receivable	$ 9,400

Schedule IV - Mortgage Loans 86

Schedule IV - Mortgage Loans on Real Estate (Rollforward) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
Movement in Mortgage Loans on Real Estate
Balance at beginning of period	$ 75,040	$ 43,591	$ 35,124
New loans	0	45,680	18,633
Additional advances on existing loans	13,183	4,736	1,389
Interest income added to principal	754	525	842
Collection of principal	(33,569)	(19,492)	(12,397)
Balance at close of period	$ 55,408	$ 75,040	$ 43,591