HGR Liquidating Trust 10-Q 14 Aug 17 2017 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2017	Aug. 07, 2017
Document and Entity Information [Abstract]
Entity Registrant Name	Hines Global REIT, Inc.
Entity Central Index Key	1,453,818
Document Type	10-Q
Document Period End Date	Jun. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity, Common Stock, Shares, Outstanding		276.4

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
ASSETS
Investment property, net	$ 2,882,045	$ 3,049,643
Cash and cash equivalents	119,466	127,393
Restricted cash	50,025	29,331
Derivative instruments	13	40
Tenant and other receivables, net	75,384	109,879
Intangible lease assets, net	457,018	506,075
Deferred leasing costs, net	134,738	127,995
Deferred financing costs, net	1,937	2,425
Real estate loans receivable, net	16,372	15,291
Other assets	28,617	20,360
Total assets	3,765,615	3,988,432
Liabilities:
Accounts payable and accrued expenses	110,875	110,219
Due to affiliates	7,292	17,914
Intangible lease liabilities, net	75,985	82,354
Other liabilities	36,471	41,233
Derivative instruments	771
Distributions payable	14,788	21,178
Notes payable, net	1,972,646	2,207,299
Total liabilities	2,218,828	2,480,197
Commitments and contingencies (Note 12)
Stockholders’ equity:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of June 30, 2017 and December 31, 2016
Common stock, $.001 par value; 1,500,000 shares authorized, 276,796 and 277,331 issued and outstanding as of June 30, 2017 and December 31, 2016, respectively	277	277
Additional paid-in capital	2,496,719	2,507,186
Accumulated distributions in excess of earnings	(875,783)	(843,900)
Accumulated other comprehensive income (loss)	(154,616)	(199,929)
Total stockholders’ equity	1,466,597	1,463,634
Noncontrolling interests	80,190	44,601
Total equity	1,546,787	1,508,235
Total liabilities and equity	$ 3,765,615	$ 3,988,432

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2017	Dec. 31, 2016
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	276,796,000	277,331,000
Common stock, shares outstanding	276,796,000	277,331,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Revenues:
Rental revenue	$ 93,359	$ 109,033	$ 193,691	$ 219,651
Other revenue	6,453	12,604	12,487	20,880
Total revenues	99,812	121,637	206,178	240,531
Expenses:
Property operating expenses	21,252	22,638	41,702	45,618
Real property taxes	12,216	12,315	24,857	24,696
Property management fees	2,106	2,321	4,298	4,740
Depreciation and amortization	34,634	46,074	72,244	89,704
Acquisition related expenses	52	31	113	172
Asset management and acquisition fees	9,514	9,079	18,880	18,269
General and administrative expenses	2,107	2,930	5,274	5,916
Total expenses	81,881	95,388	167,368	189,115
Income (loss) before other income (expenses) and benefit (provision) for income taxes	17,931	26,249	38,810	51,416
Other income (expenses):
Gain (loss) on derivative instruments	(789)	(117)	(802)	(679)
Equity in earnings (losses) of unconsolidated entities	0	7,565	0	7,601
Gain (loss) on sale of real estate investments	55,416	0	140,605	0
Foreign currency gains (losses)	708	(6,925)	7,328	(7,080)
Interest expense	(14,905)	(16,332)	(29,588)	(32,591)
Other income (expenses)	138	(152)	240	(65)
Income (loss) before benefit (provision) for income taxes	58,499	10,288	156,593	18,602
Benefit (provision) for income taxes	8,651	(1,133)	9,499	(2,972)
Net income (loss)	67,150	9,155	166,092	15,630
Net (income) loss attributable to noncontrolling interests	(18,122)	(1,645)	(108,590)	(2,931)
Net income (loss) attributable to common stockholders	$ 49,028	$ 7,510	$ 57,502	$ 12,699
Basic and diluted income (loss) per common share (in dollars per share)	$ 0.18	$ 0.03	$ 0.21	$ 0.05
Distributions declared per common share (in dollars per share)	$ 0.16	$ 0.16	$ 0.32	$ 0.32
Weighted average number of common shares outstanding	276,999	275,442	277,317	275,272
Net comprehensive income (loss):
Net income (loss)	$ 67,150	$ 9,155	$ 166,092	$ 15,630
Other comprehensive income (loss):
Foreign currency translation adjustment	20,901	(23,062)	48,688	(12,930)
Net comprehensive income (loss)	88,051	(13,907)	214,780	2,700
Net comprehensive (income) loss attributable to noncontrolling interests	(18,194)	(99)	(111,965)	(698)
Net comprehensive income (loss) attributable to common stockholders	$ 69,857	$ (14,006)	$ 102,815	$ 2,002

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Hines Global REIT, Inc. Common Stock [Member]	Hines Global REIT, Inc. Additional Paid-in Capital [Member]	Accumulated Distributions in Excess of Net Income [Member]	Hines Global REIT, Inc. Accumulated Other Comprehensive Income (Loss) [Member]	Total Stockholders' Equity [Member]	Noncontrolling Interests [Member]
Beginning balance, shares at Dec. 31, 2015		274,482
Beginning balance at Dec. 31, 2015		$ 274	$ 2,476,744	$ (815,127)	$ (163,096)	$ 1,498,795	$ 47,929
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		4,736
Issuance of common shares		$ 5	47,120			47,125
Distributions declared				(89,213)		(89,213)	(767)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(1,501)
Redemption of common shares, shares		(3,586)
Redemption of common shares		$ (3)	(35,954)			(35,957)
Issuer costs			(26)			(26)
Net income (loss)	$ 15,630			12,699		12,699	2,931
Foreign currency translation adjustment	$ (12,930)				(10,697)	(10,697)	(2,233)
Ending balance at Jun. 30, 2016		$ 276	2,487,884	(891,641)	(173,793)	1,422,726	46,359
Ending balance, shares at Jun. 30, 2016		275,632
Beginning balance, shares at Dec. 31, 2016	277,331	277,331
Beginning balance at Dec. 31, 2016	$ 1,508,235	$ 277	2,507,186	(843,900)	(199,929)	1,463,634	44,601
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		4,575
Issuance of common shares		$ 5	46,210			46,215
Contribution from noncontrolling interest							33
Distributions declared				(89,385)		(89,385)	(21,307)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(55,102)
Redemption of common shares, shares		(5,110)
Redemption of common shares		$ (5)	(56,649)			(56,654)
Issuer costs			(28)			(28)
Net income (loss)	166,092			57,502		57,502	108,590
Foreign currency translation adjustment	48,688				40,329	40,329	52
Foreign currency translation adjustment reclassified into earnings					4,984	4,984	3,323
Ending balance at Jun. 30, 2017	$ 1,546,787	$ 277	$ 2,496,719	$ (875,783)	$ (154,616)	$ 1,466,597	$ 80,190
Ending balance, shares at Jun. 30, 2017	276,796	276,796

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 166,092	$ 15,630
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	82,416	99,199
Deferred income tax provision (benefit)	(11,172)	0
Equity in (earnings) losses of unconsolidated entities	0	(7,601)
Distributions from unconsolidated entities	0	7,601
Foreign currency (gains) losses	(7,328)	7,080
(Gain) loss on the sale of real estate investments	(140,605)	0
(Gain) loss on derivative instruments	802	679
Changes in assets and liabilities:
Change in other assets	2,936	(2,196)
Change in tenant and other receivables	11,677	(14,114)
Change in deferred leasing costs	(21,120)	(19,302)
Change in accounts payable and accrued expenses	(4,744)	98
Change in other liabilities	(2,909)	(1,721)
Change in due to affiliates	(10,295)	(465)
Net cash from operating activities	65,750	84,888
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of real estate investments	434,736	0
Capital expenditures at operating properties and developments	(22,394)	(7,984)
Distributions from unconsolidated entity in excess of equity in earnings	0	1,781
Investments in real estate loans receivable	(1,192)	(3,044)
Proceeds from collection of real estate loans receivable	112	9,641
Net cash from investing activities	411,262	394
CASH FLOWS FROM FINANCING ACTIVITIES:
Redemption of common shares	(50,717)	(35,098)
Payments of issuer costs	(32)	(29)
Distributions paid to stockholders and noncontrolling interests	(126,048)	(44,312)
Proceeds from notes payable	60,718	71,000
Payments on notes payable	(354,335)	(76,698)
Change in security deposit liability	(33)	139
Deferred financing costs paid	(176)	(207)
Payments related to interest rate contracts	0	(55)
Net cash used in financing activities	(470,623)	(85,260)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	6,378	(2,451)
Net change in cash, cash equivalents, and restricted cash	12,767	(2,429)
Cash, cash equivalents, and restricted cash, beginning of period	156,724	156,391
Cash, cash equivalents, and restricted cash, end of period	$ 169,491	$ 153,962

Organization

Organization	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION The accompanying interim unaudited condensed consolidated financial information has been prepared according to the rules and regulations of the United States Securities and Exchange Commission (“SEC”). Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) have been condensed or omitted according to such rules and regulations. For further information, refer to the financial statements and footnotes for the year ended December 31, 2016 included in Hines Global REIT, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2016 . In the opinion of management, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly and in conformity with GAAP the financial position of Hines Global REIT, Inc. as of June 30, 2017 , the results of operations for the three and six months ended June 30, 2017 and 2016 and cash flows for the six months ended June 30, 2017 and 2016 have been included. The results of operations for such interim periods are not necessarily indicative of the results for the full year. Hines Global REIT, Inc. (the “Company”), was formed as a Maryland corporation on December 10, 2008 under the General Corporation Law of the state of Maryland for the purpose of engaging in the business of investing in and owning commercial real estate properties and other real estate investments. The Company conducts most of its operations through Hines Global REIT Properties, LP (the “Operating Partnership”) and subsidiaries of the Operating Partnership. The Company operates in a manner to qualify as a real estate investment trust (“REIT”) for federal income tax purposes. The business of the Company is managed by Hines Global REIT Advisors LP (the “Advisor”), an affiliate of Hines Interests Limited Partnership (“Hines”), pursuant to the Advisory Agreement between the Company, the Advisor and the Operating Partnership (the “Advisory Agreement”). The Company raised the equity capital for its real estate investments through two public offerings from August 5, 2009 through 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 has raised gross offering proceeds of approximately $3.0 billion , including the DRP Offering, all of which have been invested in the Company’s real estate portfolio. In March 2015, the Company completed its investment of the proceeds raised through its public offerings. As of June 30, 2017 , the Company owned interests in 38 real estate investments, consisting of the following types of investments: • Domestic office investments ( 11 investments) • Domestic other investments ( 6 investments) • International office investments ( 10 investments) • International other investments ( 11 investments) Discussed below are additional details related to the Company’s investment in real estate-related debt as of June 30, 2017 . This investment 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 two loans receivable, totaling $16.2 million , outstanding as of June 30, 2017 . The Company is not affiliated with Flagship Capital GP. See Note 4 — Real Estate Loans Receivable for additional information regarding these loans receivable. Consolidated VIEs The WaterWall Place JV, Aviva Coral Gables JV, and Flagship Capital JV were each determined to be variable interest entities (“VIE”) in which the Company is the primary beneficiary and the Company has consolidated these joint ventures accordingly. A summary of the assets and liabilities of these consolidated VIEs, as well as the maximum loss exposure of the Company from these consolidated VIEs, is as follows (in thousands): June 30, 2017 December 31, 2016 Maximum risk of loss (1) $ 15,469 $ 30,446 Assets held by VIEs $ 76,300 $ 136,705 Assets held as collateral for debt $ 76,300 $ 136,705 Liabilities held by VIEs $ 48,878 $ 91,792 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs. Restrictions on the use of a VIE’s assets are significant because they serve as collateral for such VIE’s debt, and the Company is generally required to obtain its partners’ approval in accordance with the respective joint venture agreements for any major transactions. Transactions with these joint ventures on the Company’s consolidated financial statements primarily relate to (i) contributions for the funding of loans receivable or distributions related to the receipt of proceeds from the collection of loans receivable at the Flagship JV or (ii) operating distributions received from the WaterWall Place JV and the Aviva Coral Gables JV, respectively. The Company and its partners are subject to the provisions of the joint venture agreements for the VIEs, which include provisions for when additional contributions may be required. During the six months ended June 30, 2017 , the Company received distributions of $37.5 million , which included a $35.3 million distribution from the sale of Aviva Coral Gables in June 2017, net of capital contributions of $0.5 million in accordance with the Company’s respective joint venture agreements. During the six months ended June 30, 2016 , the Company received capital distributions of $10.9 million , net of capital contributions of $0.1 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.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Described below are certain of the Company’s significant accounting policies. The disclosures regarding several of the policies have been condensed or omitted in accordance with interim reporting regulations specified by Form 10-Q. Please see the Company’s Annual Report on Form 10-K for the year ended December 31, 2016 for a complete listing of all of its significant accounting policies. Basis of Presentation The condensed consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q include the accounts of Hines Global REIT, Inc., the Operating Partnership and the Operating Partnership’s wholly-owned subsidiaries as well as the related amounts of noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. As a result of the adoption of Accounting Standards Update (“ASU”) 2015-02, the Company has determined that the Operating Partnership is considered a VIE. However, the Company meets the disclosure exemption criteria under ASU 2015-02, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest. Reclassifications In connection with the adoption of ASU 2016-18 regarding the presentation of restricted cash in the statements of cash flows, the Company reclassified $2.6 million of restricted cash from investing activities on the statements of cash flows to the cash, cash equivalents, and restricted cash balances in 2016 to be consistent with the 2017 presentation. Tenant and Other Receivables Tenant and other receivables are shown at cost in the condensed consolidated balance sheets, net of allowance for doubtful accounts of $3.1 million and $2.5 million at June 30, 2017 and December 31, 2016 , respectively. Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing (see Note 5 — Debt Financing). These fees are presented as a reduction to the related debt liability for permanent mortgages and as an asset for revolving credit arrangements. In total, deferred financing costs (net of amortization) were $8.9 million and $10.8 million as of June 30, 2017 and December 31, 2016 , respectively. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations. For the three months ended June 30, 2017 and 2016 , $1.2 million and $1.3 million , respectively, were amortized into interest expense in the accompanying condensed consolidated statement of operations. For the six months ended June 30, 2017 and 2016 , $2.3 million and $2.6 million , respectively, were amortized into interest expense in the accompanying condensed consolidated statement of operations. Other Assets Other assets included the following (in thousands): June 30, 2017 December 31, 2016 Prepaid expenses $ 3,679 $ 2,647 Deferred tax assets (1) 24,649 11,259 Other (2) 289 6,454 Other assets $ 28,617 $ 20,360 (1) The change in deferred tax assets is primarily due to the restructuring of certain of the Company’s Polish subsidiaries as a result of the recent tax law changes in Poland. (2) Primarily consists of $6.3 million held by an escrow agent as of December 31, 2016. This amount was returned to the Company in January 2017. Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of June 30, 2017 and December 31, 2016 , respectively, the Company recorded liabilities of $24.9 million and $27.3 million related to prepaid rental payments, which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease, including rent holidays, if any. Straight-line rent receivable was $56.4 million and $89.4 million as of June 30, 2017 and December 31, 2016 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term. Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09 to provide guidance on recognizing revenue from contracts with customers. This ASU’s core objective is for an entity to recognize revenue based on the consideration it expects to receive in exchange for goods or services. 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. Subsequent to ASU 2014-09, the FASB has issued multiple ASUs clarifying multiple aspects of the new revenue recognition standard, which include the deferral of the effective date by one year, and additional guidance for partial sales of non-financial assets. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with retrospective or modified retrospective adoption. Expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to this pronouncement. The Company is currently evaluating each of its revenue streams to identify differences in the timing, measurement or presentation of revenue recognition under the new standard, and has elected the modified retrospective method of adoption. Rental income from leasing arrangements is specifically excluded from ASU 2014-09, and will be evaluated by the Company in its adoption of the lease accounting standard, ASU 2016-02 (described below). Once ASU 2016-02 goes into effect, the new revenue standard may apply to executory costs and other components of revenue due under leases that are deemed to be non-lease components (such as common area maintenance and provision of utilities), even when the revenue for such activities is not separately stipulated in the lease. In that case, the revenue from these items previously recognized on a straight-line basis under current lease guidance would be recognized under the new revenue guidance as the related services are delivered. As a result, while the total revenue recognized over time would not differ under the new guidance, the recognition pattern would be different. Excluding revenues related to leasing transactions, the adoption of this standard may impact other sources of our revenue, primarily revenues generated from property dispositions. We believe there may be an impact in the timing associated with recognizing some of these revenues. In February 2016, the FASB issued ASU 2016-02 will require companies that lease assets to recognize on the balance sheet the right-of-use assets and related lease liabilities. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance is effective for public entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company is in the process of evaluating the impact that the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements relating to its lessor leases and other lessee leases, if any. The Company has currently identified certain areas the Company believes may be impacted by the adoption of ASU 2016-02, which include: • The bifurcation of lease arrangements in which contractual amounts due are on a gross basis and the amount under contract is not allocated between rental and expense reimbursements, such as real estate taxes and insurance. This process would be based on the underlying fair values of these items. • The Company has ground lease agreements in which the Company is the lessee for land underneath New City and the lessee for land underneath the properties in the Poland Logistics Portfolio that the Company currently accounts for as operating leases. Upon adoption of ASU 2016-02, the Company will record any rights and obligations under these leases as an asset and liability at fair value in the Company’s consolidated balance sheets. • Determination of costs to be capitalized associated with leases. ASU 2016-02 will limit the capitalization associated with certain costs to costs that are a direct result of obtaining a lease. In January 2017, the FASB issued ASU 2017-01 to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in the ASU are effective for public entities for annual and interim periods in fiscal years beginning after December 15, 2017 and early adoption is permitted with prospective application. The Company expects that upon the adoption of this guidance most real estate transactions will be accounted for under the asset acquisition (or disposal) guidance and, accordingly, any future acquisition expenses related to these acquisitions will be capitalized. Under the asset acquisition guidance, the purchase price will be allocated based on the relative fair value of the various components.

Investment Property

Investment Property	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
INVESTMENT PROPERTY	INVESTMENT PROPERTY Investment property consisted of the following amounts as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Buildings and improvements $ 2,449,312 $ 2,612,274 Less: accumulated depreciation (248,338 ) (246,940 ) Buildings and improvements, net 2,200,974 2,365,334 Land 681,071 684,309 Investment property, net $ 2,882,045 $ 3,049,643 In February 2017 , the Brindleyplace JV, in which the Company owned a 60% interest, sold the Brindleyplace Project for a contract sales price of £260.0 million (approximately $325.1 million based on an exchange rate of $1.25 per GBP as of the transaction date). The Brindleyplace JV acquired the property in July 2010 for £186.2 million (approximately $282.5 million based on an exchange rate of $1.52 per GBP as of the transaction date). The Company recognized a gain on sale of this asset of $85.1 million net of disposition fees, which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss). In June 2017, the Aviva Coral Gables JV, in which the Company owned an 83% interest, sold Aviva Coral Gables, for a contract sales price of $100.0 million . The Aviva Coral Gables JV completed the construction of the property in April 2015 for a total cost of $62.0 million . The Company recognized a gain on sale of this asset of $39.3 million net of disposition fees, which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss). In June 2017, the Company completed the sale of Southpark, for a contract sales price of $41.1 million . The Company acquired the property in October 2010 for a purchase price of $31.2 million . The Company recognized a gain on sale of this asset of $16.3 million net of disposition fees, which was recorded in gain (loss) on sale of real estate investments on the condensed consolidated statements of operations and comprehensive income (loss). As of June 30, 2017 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 743,887 $ 90,207 $ (113,847 ) Less: accumulated amortization (323,384 ) (53,692 ) 37,862 Net $ 420,503 $ 36,515 $ (75,985 ) As of December 31, 2016 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 793,018 $ 96,912 $ (116,717 ) Less: accumulated amortization (334,249 ) (49,606 ) 34,363 Net $ 458,769 $ 47,306 $ (82,354 ) Amortization expense of in-place leases was $17.8 million and $27.5 million for the three months ended June 30, 2017 and 2016 , respectively. Net amortization of out-of-market leases resulted in an increase to rental revenue of $0.9 million for the three months ended June 30, 2017 , and a decrease to rental revenue of $1.3 million for the three months ended June 30, 2016 . Amortization expense of in-place leases was $38.2 million and $52.7 million for the six months ended June 30, 2017 and 2016 , respectively. Net amortization of out-of-market leases resulted in an increase to rental revenue of $0.5 million for the six months ended June 30, 2017 and a decrease to rental revenue of $1.6 million for the six months ended June 30, 2016 . Anticipated amortization of in-place leases and out-of-market leases, net, for the period from July 1, 2017 through December 31, 2017 and for each of the years ending December 31, 2018 through December 31, 2021 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net July 1, 2017 through December 31, 2017 $ 31,854 $ (491 ) 2018 54,807 (1,937 ) 2019 43,696 (3,388 ) 2020 34,989 (3,262 ) 2021 23,951 (1,057 ) Leases The Company has entered into non-cancelable lease agreements with tenants for space. As of June 30, 2017 , the approximate fixed future minimum rentals for the period from July 1, 2017 through December 31, 2017 , for each of the years ending December 31, 2018 through December 31, 2021 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals July 1, 2017 through December 31, 2017 $ 144,341 2018 271,772 2019 252,737 2020 221,301 2021 186,370 Thereafter 956,097 Total $ 2,032,618 During the six months ended June 30, 2017 and 2016 , the Company did not earn more than 10% of its total rental revenue from any individual tenant.

Real Estate Loans Receivable

Real Estate Loans Receivable	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOANS RECEIVABLE Real estate loans receivable included the following at June 30, 2017 and December 31, 2016 (in thousands): Property Original Funding Date Maturity Date Interest Rate Total Loan Commitment Balance as of Balance as of Flagship Capital JV Randall’s 7/28/2014 7/28/2018 6.25% (1) $ 10,939 $ 9,536 $ 8,953 Finesilver 7/31/2014 10/31/2017 6.45% (2) 7,233 6,713 6,271 6.33% $ 18,172 $ 16,249 $ 15,224 (Origination) / Exit fees 123 67 Total Real Estate Loans Receivable $ 16,372 $ 15,291 (1) In June 2017, the maturity date of this loan was extended to July 28, 2018. (2) In February 2017, the maturity date of this loan was extended to October 31, 2017.

Debt Financing

Debt Financing	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
DEBT FINANCING	DEBT FINANCING As of June 30, 2017 and December 31, 2016 , the Company had approximately $2.0 billion and $2.2 billion of principal outstanding, respectively, with a weighted average years to maturity of 2.1 years and 2.4 years , respectively, and a weighted average interest rate of 2.6% and 2.4% , respectively. The following table describes the Company’s debt outstanding at June 30, 2017 and December 31, 2016 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of June 30, 2017 Principal Outstanding at June 30, 2017 Principal Outstanding at December 31, 2016 Secured Mortgage Debt Brindleyplace Project 7/1/2010 7/7/2017 (1) Variable N/A $ — $ 149,343 Fifty South Sixth 11/4/2010 11/3/2018 Variable 2.65 % 125,000 125,000 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% 4.25 % 1,210 512 100 Brookes 7/13/2012 1/31/2018 (2) Variable 3.77 % 27,670 31,109 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 68,518 64,294 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 2.32 % 62,283 58,320 Mercedes Benz Bank 2/7/2013 12/31/2019 (3) Variable, subject to interest rate cap 1.23 % 37,865 35,041 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 2.97 % 40,895 38,293 New City 3/28/2013 3/18/2018 Variable, subject to interest rate cap 2.30 % 78,127 73,612 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 62,410 59,213 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 2.46 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 79,961 73,612 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.37 % 25,819 23,924 55 M Street 12/9/2013 12/9/2017 Variable 2.67 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 160,900 152,658 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 40,165 37,167 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.37 % 65,523 62,254 The Summit 3/4/2015 4/1/2022 Variable 2.61 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 77,907 72,275 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 2.73 % (4) 28,000 119,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 2.68 % 495,000 495,000 WaterWall Place Loan 6/29/2012 5/8/2018 Variable 2.83 % (4) 44,897 44,897 Aviva Coral Gables JV Loan (5) 5/10/2013 7/10/2017 Variable N/A — 42,693 Total Principal Outstanding $ 1,979,650 $ 2,215,717 Unamortized Deferred Financing Fees $ (7,004 ) $ (8,418 ) Notes Payable $ 1,972,646 $ 2,207,299 (1) In February 2017 , the Brindleyplace JV sold the Brindleyplace Project and paid off the secured mortgage loan in full with proceeds from the sale. (2) In May 2017 , the Company entered into an amendment to the 100 Brookes loan which extended the maturity date to January 31, 2018 , and lowered the margin on the variable interest rate by 20 basis points. The Company also made a principal payment of $7.2 million AUD (approximately $5.4 million based on an exchange rate of $0.74 per AUD as of the transaction date) under the 100 Brookes loan. (3) In July 2017 , the Company paid off the secured mortgage loan in full upon the sale of Mercedes Benz Bank. (4) Represents the weighted average interest rate as of June 30, 2017 . (5) In June 2017 , the Aviva Coral Gables JV paid off the loan in full upon the sale of Aviva Coral Gables. The variable-rate debt has interest rates ranging from LIBOR, EURIBOR or the BBSY screen rate plus 0.65% to 2.50% per annum. As of June 30, 2017 , $427.0 million of the Company’s variable-rate debt was capped at strike rates ranging from 1.5% to 4.0% . Additionally, as of December 31, 2016 , $398.8 million of our variable rate debt was capped at strike rates ranging from 1.5% to 4.0% . JPMorgan Chase Revolving Credit Facility For the period from January 2017 through June 2017 , the Company borrowed approximately $60.0 million and made payments of approximately $151.0 million under its revolving credit facility with JPMorgan Chase Bank, National Association (the “Revolving Credit Facility”). From July 1, 2017 through August 14, 2017 , the Company made payments of $28.0 million under the Revolving Credit Facility. The payments resulted in an outstanding principal balance of $495.0 million on the Revolving Credit Facility as of August 14, 2017 . 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 June 30, 2017. Principal Payments on Debt The Company is required to make the following principal payments on its outstanding notes payable for the period from July 1, 2017 through December 31, 2017 , for each of the years ending December 31, 2018 through December 31, 2021 and for the period thereafter (in thousands): Payments due by Year (1) July 1, 2017 through December 31, 2017 2018 2019 2020 2021 Thereafter Principal payments $ 76,068 $ 558,789 $ 876,587 $ 224,514 $ 73,692 $ 170,000 (1) In July 2017, the Company sold Mercedes Benz Bank and paid off the outstanding debt balance related to the property. This subsequent payment related to the Mercedes Benz Bank loan is not reflected in 2017 in this table, but instead at its original maturity date in 2019.

Derivative Instruments

Derivative Instruments	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [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 9 — Fair Value Measurements for additional information regarding the fair value of the Company’s interest rate contracts. The Company has also entered into foreign currency forward contracts as economic hedges against the variability of foreign exchange rates. 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 9 — Fair Value Measurements for additional information regarding the fair value of the Company’s foreign currency forwards. In June 2017, the Company entered into an €80.0 million foreign currency forward contract with an effective date of June 27, 2017 and a trade date of July 10, 2017, in connection with the sale of the Mercedes Benz Bank from which the Company received proceeds in Euros. See Note 13 — Subsequent Events for additional information regarding the sale of the Mercedes Benz Bank. The Company has not entered into any master netting arrangements with its third-party counterparties and does not offset on its condensed 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 condensed consolidated balance sheets, as of June 30, 2017 and December 31, 2016 (in thousands): Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Derivatives not designated as hedging instruments: Interest rate caps $ 13 $ 40 $ — $ — Foreign currency forward contracts — — (771 ) — Total derivatives $ 13 $ 40 $ (771 ) $ — The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2017 and 2016 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Derivatives not designated as hedging instruments: Interest rate caps $ (18 ) $ (117 ) $ (31 ) $ (679 ) Foreign currency forward contracts (771 ) — (771 ) — Total gain (loss) on derivatives $ (789 ) $ (117 ) $ (802 ) $ (679 )

Distributions

Distributions	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS The Company has declared distributions for the months of January 2016 through August 2017 at an amount equal to $0.0017808 per share, per day. The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for each of the quarters ended during 2017 and 2016 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declares distributions to the Company’s stockholders as of daily record dates and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2017 June 30, 2017 $ 21,935 $ 22,953 $ 44,888 $ 21,053 (1) March 31, 2017 21,614 22,883 44,497 55,356 (2) Total $ 43,549 $ 45,836 $ 89,385 $ 76,409 2016 December 31, 2016 $ 21,843 $ 23,539 $ 45,382 $ 752 September 30, 2016 21,617 23,611 45,228 2,671 June 30, 2016 21,232 23,402 44,634 1,281 March 31, 2016 21,128 23,451 44,579 987 Total $ 85,820 $ 94,003 $ 179,823 $ 5,691 (1) For the three months ended June 30, 2017, distributions declared to the noncontrolling interests included a special distribution totaling $21.0 million to our JV partner in the Aviva Coral Gables JV, as a result of the sale of Aviva Coral Gables. (2) For the three months ended March 31, 2017 , distributions declared to the noncontrolling interests included a special distribution totaling $55.1 million to our JV partner in the Brindleyplace JV, as a result of the sale of the Brindleyplace Project.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended June 30, Six Months Ended June 30, Unpaid as of Type and Recipient 2017 2016 2017 2016 June 30, 2017 December 31, 2016 Issuer Costs- the Advisor $ 12 $ 11 $ 28 $ 26 $ 2 $ 8 Acquisition Fee - the Advisor and affiliates of Hines $ — $ — $ — $ — — 191 Asset Management Fee- the Advisor and affiliates of Hines $ 9,514 $ 9,079 $ 18,880 $ 18,269 2,864 8,922 Disposition Fee- the Advisor $ 1,040 $ 264 $ 2,879 $ 264 — 2,760 Other (1) $ 1,312 $ 1,230 $ 2,718 $ 2,630 889 1,644 Property Management Fee- Hines $ 1,796 $ 1,784 $ 3,632 $ 3,718 129 (46 ) Development/Construction Management Fee- Hines $ 327 $ 243 $ 491 $ 256 151 246 Leasing Fee- Hines $ 331 $ 1,027 $ 693 $ 3,162 2,857 3,455 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,849 $ 3,016 $ 5,649 $ 5,928 400 734 Due to Affiliates $ 7,292 $ 17,914 (1) 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

Fair Value Measurements	6 Months Ended
	Jun. 30, 2017
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS As described in Note 6 — 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. 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 June 30, 2017 , 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 6 — Derivative Instruments, the Company has entered into several foreign currency forward contracts as economic hedges against the variability of foreign exchange rates. 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 Fair Value Disclosures As of June 30, 2017 , the Company estimated that the fair value of its notes payable, which had a book value of $2.0 billion , was $2.0 billion . As of December 31, 2016 , the Company estimated that the fair value of its notes payable, which had a book value of $2.2 billion , was $2.2 billion . Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. Although the Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of June 30, 2017 , 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 June 30, 2017 , the Company estimated that the book values of its real estate loans receivable approximate their fair values. Management has utilized available market information, such as interest rate and spread assumptions of loans receivable 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 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 June 30, 2017 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of real estate notes receivable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Financial Instruments Measured on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. As of June 30, 2017 and June 30, 2016 , there were no events that have occurred which indicated that fair value adjustments of the Company’s long-lived assets were necessary.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company’s investments in real estate are geographically diversified and management evaluates the operating performance of each at an individual investment level and considers each investment to be an operating segment. The Company has aggregated all of its operating segments into four reportable segments based on the location of the segment and the underlying asset class. Management has aggregated the Company's investments that are not office properties in “other” based on the geographic location of the investment, due to the Company's ownership of interests in various different types of investments that do not stand alone as their own reportable segment. The Company’s reporting segments consist of the following, based on the Company’s investments as of June 30, 2017 : • Domestic office investments ( 11 investments) • Domestic other investments ( 6 investments) • International office investments ( 10 investments) • International other investments ( 11 investments) The tables below provide additional information related to each of the Company’s segments, 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 other than percentages are in thousands). Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total Revenue Domestic office investments $ 43,596 $ 45,234 $ 87,691 $ 88,776 Domestic other investments 24,177 30,874 48,973 61,985 International office investments 21,994 27,776 46,337 54,912 International other investments 10,045 17,753 23,177 34,858 Total Revenue $ 99,812 $ 121,637 $ 206,178 $ 240,531 For the three and six months ended June 30, 2017 and 2016 the Company’s total revenue was attributable to the following countries: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total Revenue United States 68 % 62 % 67 % 63 % United Kingdom 8 % 16 % 10 % 16 % Australia 8 % 6 % 8 % 6 % Germany 6 % 6 % 6 % 5 % Poland 5 % 5 % 5 % 5 % Russia 4 % 2 % 3 % 2 % France 1 % 3 % 1 % 3 % For the three and six months ended June 30, 2017 and 2016 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Property revenues in excess of expenses (1) Domestic office investments $ 27,565 $ 29,838 $ 55,504 $ 57,871 Domestic other investments 15,606 19,768 31,268 39,981 International office investments 13,288 21,797 31,254 42,878 International other investments 7,779 12,960 17,295 24,747 Property revenues in excess of expenses $ 64,238 $ 84,363 $ 135,321 $ 165,477 (1) Revenues less property operating expenses, real property taxes and property management fees. As of June 30, 2017 and December 31, 2016 , the Company’s total assets by segment was as follows (in thousands): June 30, 2017 December 31, 2016 Total Assets Domestic office investments $ 1,423,383 $ 1,454,943 Domestic other investments 814,009 901,120 International office investments 1,078,527 1,003,616 International other investments 409,170 584,726 Corporate-level accounts 40,526 44,027 Total Assets $ 3,765,615 $ 3,988,432 As of June 30, 2017 and December 31, 2016 , the Company’s total assets were attributable to the following countries: June 30, 2017 December 31, 2016 Total Assets United States 60 % 59 % United Kingdom 11 % 15 % Australia 8 % 8 % Germany 8 % 7 % Poland 7 % 6 % France 4 % 3 % Russia 2 % 2 % For the three and six months ended June 30, 2017 and 2016 , the reconciliation of the Company’s total property revenues in excess of expenses to the Company’s net income (loss) is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Reconciliation to property revenues in excess of expenses Net income (loss) $ 67,150 $ 9,155 $ 166,092 $ 15,630 Depreciation and amortization 34,634 46,074 72,244 89,704 Acquisition related expenses 52 31 113 172 Asset management and acquisition fees 9,514 9,079 18,880 18,269 General and administrative expenses 2,107 2,930 5,274 5,916 (Gain) loss on derivatives 789 117 802 679 Equity in (earnings) losses of unconsolidated entities — (7,565 ) — (7,601 ) (Gain) loss on sale of real estate investments (55,416 ) — (140,605 ) — Foreign currency (gains) losses (708 ) 6,925 (7,328 ) 7,080 Interest expense 14,905 16,332 29,588 32,591 Other (income) expenses (138 ) 152 (240 ) 65 (Benefit) provision for income taxes (8,651 ) 1,133 (9,499 ) 2,972 Total property revenues in excess of expenses $ 64,238 $ 84,363 $ 135,321 $ 165,477

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	6 Months Ended
	Jun. 30, 2017
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the six months ended June 30, 2017 and 2016 (in thousands): Six Months Ended June 30, 2017 2016 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 28,315 $ 30,657 Cash paid for taxes $ 3,318 $ 4,862 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,788 $ 19,405 Distributions reinvested $ 46,216 $ 47,125 Shares tendered for redemption $ 10,924 $ 6,105 Accrued capital additions $ 3,242 $ 2,174

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2017
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 June 30, 2017 , $8.6 million of the Company’s commitment remained unfunded and is recorded in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets. In May 2016, Stinson Leonard Street LLP signed a new lease for its space in 50 South Sixth located in Minneapolis, Minnesota. In connection with this lease, the Company committed to fund $12.2 million of tenant improvements and leasing commissions related to its space, to be paid in future periods. As of June 30, 2017 , $10.2 million of the Company’s commitment remained unfunded and is recorded in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets. The Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on the Company’s condensed consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2017
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Mercedes Benz Bank In July 2017, the Company completed the sale of Mercedes Benz Bank, for a contract sales price of €117.0 million (approximately $133.2 million based on an exchange rate of $1.14 per EUR as of the transaction date). The Company acquired the Mercedes Benz Bank in February 2013 for a purchase price of €51.9 million (approximately $70.2 million based on a rate of $1.35 per EUR as of the transaction date). *****

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The condensed consolidated financial statements of the Company included in this Quarterly Report on Form 10-Q include the accounts of Hines Global REIT, Inc., the Operating Partnership and the Operating Partnership’s wholly-owned subsidiaries as well as the related amounts of noncontrolling interests. All intercompany balances and transactions have been eliminated in consolidation. As a result of the adoption of Accounting Standards Update (“ASU”) 2015-02, the Company has determined that the Operating Partnership is considered a VIE. However, the Company meets the disclosure exemption criteria under ASU 2015-02, as the Company is the primary beneficiary of the VIE and the Company’s partnership interest is considered a majority voting interest.
Reclassification	Reclassifications In connection with the adoption of ASU 2016-18 regarding the presentation of restricted cash in the statements of cash flows, the Company reclassified $2.6 million of restricted cash from investing activities on the statements of cash flows to the cash, cash equivalents, and restricted cash balances in 2016 to be consistent with the 2017 presentation.
Deferred Financing Costs	Deferred Financing Costs Deferred financing costs consist of direct costs incurred in obtaining debt financing (see Note 5 — Debt Financing). These fees are presented as a reduction to the related debt liability for permanent mortgages and as an asset for revolving credit arrangements. In total, deferred financing costs (net of amortization) were $8.9 million and $10.8 million as of June 30, 2017 and December 31, 2016 , respectively. These costs are amortized into interest expense on a straight-line basis, which approximates the effective interest method, over the terms of the obligations.
Revenue Recognition	Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of June 30, 2017 and December 31, 2016 , respectively, the Company recorded liabilities of $24.9 million and $27.3 million related to prepaid rental payments, which were included in other liabilities in the accompanying condensed consolidated balance sheets. The Company recognizes rental revenue on a straight-line basis over the life of the lease, including rent holidays, if any. Straight-line rent receivable was $56.4 million and $89.4 million as of June 30, 2017 and December 31, 2016 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term.
Recent Accounting Pronouncements	Recent Accounting Pronouncements In May 2014, the Financial Accounting Standards Board (“FASB”) issued ASU 2014-09 to provide guidance on recognizing revenue from contracts with customers. This ASU’s core objective is for an entity to recognize revenue based on the consideration it expects to receive in exchange for goods or services. 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. Subsequent to ASU 2014-09, the FASB has issued multiple ASUs clarifying multiple aspects of the new revenue recognition standard, which include the deferral of the effective date by one year, and additional guidance for partial sales of non-financial assets. These amendments are effective for fiscal years, and interim periods within those years, beginning after December 15, 2017, with retrospective or modified retrospective adoption. Expanded quantitative and qualitative disclosures regarding revenue recognition will be required for contracts that are subject to this pronouncement. The Company is currently evaluating each of its revenue streams to identify differences in the timing, measurement or presentation of revenue recognition under the new standard, and has elected the modified retrospective method of adoption. Rental income from leasing arrangements is specifically excluded from ASU 2014-09, and will be evaluated by the Company in its adoption of the lease accounting standard, ASU 2016-02 (described below). Once ASU 2016-02 goes into effect, the new revenue standard may apply to executory costs and other components of revenue due under leases that are deemed to be non-lease components (such as common area maintenance and provision of utilities), even when the revenue for such activities is not separately stipulated in the lease. In that case, the revenue from these items previously recognized on a straight-line basis under current lease guidance would be recognized under the new revenue guidance as the related services are delivered. As a result, while the total revenue recognized over time would not differ under the new guidance, the recognition pattern would be different. Excluding revenues related to leasing transactions, the adoption of this standard may impact other sources of our revenue, primarily revenues generated from property dispositions. We believe there may be an impact in the timing associated with recognizing some of these revenues. In February 2016, the FASB issued ASU 2016-02 will require companies that lease assets to recognize on the balance sheet the right-of-use assets and related lease liabilities. The new standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The guidance is effective for public entities for fiscal years beginning after December 15, 2018 and interim periods within those fiscal years. Early adoption is permitted. The Company is in the process of evaluating the impact that the adoption of ASU 2016-02 will have on the Company’s consolidated financial statements relating to its lessor leases and other lessee leases, if any. The Company has currently identified certain areas the Company believes may be impacted by the adoption of ASU 2016-02, which include: • The bifurcation of lease arrangements in which contractual amounts due are on a gross basis and the amount under contract is not allocated between rental and expense reimbursements, such as real estate taxes and insurance. This process would be based on the underlying fair values of these items. • The Company has ground lease agreements in which the Company is the lessee for land underneath New City and the lessee for land underneath the properties in the Poland Logistics Portfolio that the Company currently accounts for as operating leases. Upon adoption of ASU 2016-02, the Company will record any rights and obligations under these leases as an asset and liability at fair value in the Company’s consolidated balance sheets. • Determination of costs to be capitalized associated with leases. ASU 2016-02 will limit the capitalization associated with certain costs to costs that are a direct result of obtaining a lease. In January 2017, the FASB issued ASU 2017-01 to clarify the definition of a business with the objective of adding guidance to assist entities with evaluating whether transactions should be accounted for as acquisitions (or disposals) of assets or businesses. The amendments in the ASU are effective for public entities for annual and interim periods in fiscal years beginning after December 15, 2017 and early adoption is permitted with prospective application. The Company expects that upon the adoption of this guidance most real estate transactions will be accounted for under the asset acquisition (or disposal) guidance and, accordingly, any future acquisition expenses related to these acquisitions will be capitalized. Under the asset acquisition guidance, the purchase price will be allocated based on the relative fair value of the various components.
Methods Of Accounting, Non-hedging Derivatives	The Company has entered into several interest rate swap contracts and interest rate cap agreements as economic hedges against the variability of future interest rates on its variable interest rate borrowings. The Company’s interest rate swaps effectively fixed the interest rates on each of the loans to which they relate and the interest rate cap contracts have effectively limited the interest rate on the loans to which they relate. The Company has not designated any of these derivatives as hedges for accounting purposes. The Company has also entered into foreign currency forward contracts as economic hedges against the variability of foreign exchange rates. 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.
Fair Value Measurement	Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. Although the Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of June 30, 2017 , 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 June 30, 2017 , the Company estimated that the book values of its real estate loans receivable approximate their fair values. Management has utilized available market information, such as interest rate and spread assumptions of loans receivable 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 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 June 30, 2017 , the Company has assessed the significance of the impact of the credit quality adjustments on the overall valuations of its fair market value of real estate notes receivable and has determined that they are not significant. As a result, the Company has determined these financial instruments utilize Level 2 inputs. Since such amounts are estimates that are based on limited available market information for similar transactions, there can be no assurance that the disclosed values could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Financial Instruments Measured on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. As of June 30, 2017 and June 30, 2016 , there were no events that have occurred which indicated that fair value adjustments of the Company’s long-lived assets were necessary. 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. 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 June 30, 2017 , 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 6 — Derivative Instruments, the Company has entered into several foreign currency forward contracts as economic hedges against the variability of foreign exchange rates. The valuation of these forward contracts is determined based on assumptions that management believes market participants would use in pricing, using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative. This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including currency exchange rate curves and implied volatilities. The Company has determined its foreign currency forward contracts valuations are classified in Level 2 of the fair value hierarchy, as they are based on observable inputs but are not traded in active markets.

Organization (Tables)

Organization (Tables)	6 Months Ended
	Jun. 30, 2017
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	A summary of the assets and liabilities of these consolidated VIEs, as well as the maximum loss exposure of the Company from these consolidated VIEs, is as follows (in thousands): June 30, 2017 December 31, 2016 Maximum risk of loss (1) $ 15,469 $ 30,446 Assets held by VIEs $ 76,300 $ 136,705 Assets held as collateral for debt $ 76,300 $ 136,705 Liabilities held by VIEs $ 48,878 $ 91,792 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs.

Summary of Significant Accoun22

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2017
Accounting Policies [Abstract]
Schedule Of Other Assets	Other assets included the following (in thousands): June 30, 2017 December 31, 2016 Prepaid expenses $ 3,679 $ 2,647 Deferred tax assets (1) 24,649 11,259 Other (2) 289 6,454 Other assets $ 28,617 $ 20,360 (1) The change in deferred tax assets is primarily due to the restructuring of certain of the Company’s Polish subsidiaries as a result of the recent tax law changes in Poland. (2) Primarily consists of $6.3 million held by an escrow agent as of December 31, 2016. This amount was returned to the Company in January 2017.

Investment Property (Tables)

Investment Property (Tables)	6 Months Ended
	Jun. 30, 2017
Real Estate [Abstract]
Schedule Of Property Subject To Or Available For Operating Lease	Investment property consisted of the following amounts as of June 30, 2017 and December 31, 2016 (in thousands): June 30, 2017 December 31, 2016 Buildings and improvements $ 2,449,312 $ 2,612,274 Less: accumulated depreciation (248,338 ) (246,940 ) Buildings and improvements, net 2,200,974 2,365,334 Land 681,071 684,309 Investment property, net $ 2,882,045 $ 3,049,643
Schedule Of Acquired Finite-Lived Intangible Assets By Major Class	As of June 30, 2017 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 743,887 $ 90,207 $ (113,847 ) Less: accumulated amortization (323,384 ) (53,692 ) 37,862 Net $ 420,503 $ 36,515 $ (75,985 ) As of December 31, 2016 , the cost basis and accumulated amortization related to lease intangibles were as follows (in thousands): Lease Intangibles Out-of-Market Lease Assets Out-of-Market Lease Liabilities In-Place Leases Cost $ 793,018 $ 96,912 $ (116,717 ) Less: accumulated amortization (334,249 ) (49,606 ) 34,363 Net $ 458,769 $ 47,306 $ (82,354 )
Schedule Of Finite Lived Intangible Assets Future Amortization Expense	Anticipated amortization of in-place leases and out-of-market leases, net, for the period from July 1, 2017 through December 31, 2017 and for each of the years ending December 31, 2018 through December 31, 2021 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net July 1, 2017 through December 31, 2017 $ 31,854 $ (491 ) 2018 54,807 (1,937 ) 2019 43,696 (3,388 ) 2020 34,989 (3,262 ) 2021 23,951 (1,057 )
Schedule Of Future Minimum Rental Income For Operating Leases	As of June 30, 2017 , the approximate fixed future minimum rentals for the period from July 1, 2017 through December 31, 2017 , for each of the years ending December 31, 2018 through December 31, 2021 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals July 1, 2017 through December 31, 2017 $ 144,341 2018 271,772 2019 252,737 2020 221,301 2021 186,370 Thereafter 956,097 Total $ 2,032,618

Real Estate Loans Receivable (T

Real Estate Loans Receivable (Tables)	6 Months Ended
	Jun. 30, 2017
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	Real estate loans receivable included the following at June 30, 2017 and December 31, 2016 (in thousands): Property Original Funding Date Maturity Date Interest Rate Total Loan Commitment Balance as of Balance as of Flagship Capital JV Randall’s 7/28/2014 7/28/2018 6.25% (1) $ 10,939 $ 9,536 $ 8,953 Finesilver 7/31/2014 10/31/2017 6.45% (2) 7,233 6,713 6,271 6.33% $ 18,172 $ 16,249 $ 15,224 (Origination) / Exit fees 123 67 Total Real Estate Loans Receivable $ 16,372 $ 15,291 (1) In June 2017, the maturity date of this loan was extended to July 28, 2018. (2) In February 2017, the maturity date of this loan was extended to October 31, 2017.

Debt Financing (Tables)

Debt Financing (Tables)	6 Months Ended
	Jun. 30, 2017
Debt Disclosure [Abstract]
Schedule Of Debt	The following table describes the Company’s debt outstanding at June 30, 2017 and December 31, 2016 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of June 30, 2017 Principal Outstanding at June 30, 2017 Principal Outstanding at December 31, 2016 Secured Mortgage Debt Brindleyplace Project 7/1/2010 7/7/2017 (1) Variable N/A $ — $ 149,343 Fifty South Sixth 11/4/2010 11/3/2018 Variable 2.65 % 125,000 125,000 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% 4.25 % 1,210 512 100 Brookes 7/13/2012 1/31/2018 (2) Variable 3.77 % 27,670 31,109 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 68,518 64,294 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 2.32 % 62,283 58,320 Mercedes Benz Bank 2/7/2013 12/31/2019 (3) Variable, subject to interest rate cap 1.23 % 37,865 35,041 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 2.97 % 40,895 38,293 New City 3/28/2013 3/18/2018 Variable, subject to interest rate cap 2.30 % 78,127 73,612 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 62,410 59,213 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 2.46 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 79,961 73,612 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.37 % 25,819 23,924 55 M Street 12/9/2013 12/9/2017 Variable 2.67 % 72,000 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 160,900 152,658 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 40,165 37,167 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.37 % 65,523 62,254 The Summit 3/4/2015 4/1/2022 Variable 2.61 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 77,907 72,275 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 2.73 % (4) 28,000 119,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 2.68 % 495,000 495,000 WaterWall Place Loan 6/29/2012 5/8/2018 Variable 2.83 % (4) 44,897 44,897 Aviva Coral Gables JV Loan (5) 5/10/2013 7/10/2017 Variable N/A — 42,693 Total Principal Outstanding $ 1,979,650 $ 2,215,717 Unamortized Deferred Financing Fees $ (7,004 ) $ (8,418 ) Notes Payable $ 1,972,646 $ 2,207,299 (1) In February 2017 , the Brindleyplace JV sold the Brindleyplace Project and paid off the secured mortgage loan in full with proceeds from the sale. (2) In May 2017 , the Company entered into an amendment to the 100 Brookes loan which extended the maturity date to January 31, 2018 , and lowered the margin on the variable interest rate by 20 basis points. The Company also made a principal payment of $7.2 million AUD (approximately $5.4 million based on an exchange rate of $0.74 per AUD as of the transaction date) under the 100 Brookes loan. (3) In July 2017 , the Company paid off the secured mortgage loan in full upon the sale of Mercedes Benz Bank. (4) Represents the weighted average interest rate as of June 30, 2017 . (5) In June 2017 , the Aviva Coral Gables JV paid off the loan in full upon the sale of Aviva Coral Gables.
Schedule Of Maturities Of Long Term Debt	The Company is required to make the following principal payments on its outstanding notes payable for the period from July 1, 2017 through December 31, 2017 , for each of the years ending December 31, 2018 through December 31, 2021 and for the period thereafter (in thousands): Payments due by Year (1) July 1, 2017 through December 31, 2017 2018 2019 2020 2021 Thereafter Principal payments $ 76,068 $ 558,789 $ 876,587 $ 224,514 $ 73,692 $ 170,000 (1) In July 2017, the Company sold Mercedes Benz Bank and paid off the outstanding debt balance related to the property. This subsequent payment related to the Mercedes Benz Bank loan is not reflected in 2017 in this table, but instead at its original maturity date in 2019.

Derivative Instruments (Tables)

Derivative Instruments (Tables)	6 Months Ended
	Jun. 30, 2017
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Fair Value of Derivative Instruments	The table below presents the fair value of the Company’s derivative instruments included in “Assets—Derivative instruments” and “Liabilities—Derivative instruments” on the Company’s condensed consolidated balance sheets, as of June 30, 2017 and December 31, 2016 (in thousands): Derivative Assets Derivative Liabilities June 30, December 31, June 30, December 31, Derivatives not designated as hedging instruments: Interest rate caps $ 13 $ 40 $ — $ — Foreign currency forward contracts — — (771 ) — Total derivatives $ 13 $ 40 $ (771 ) $ — The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and six months ended June 30, 2017 and 2016 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Six Months Ended June 30, June 30, June 30, June 30, Derivatives not designated as hedging instruments: Interest rate caps $ (18 ) $ (117 ) $ (31 ) $ (679 ) Foreign currency forward contracts (771 ) — (771 ) — Total gain (loss) on derivatives $ (789 ) $ (117 ) $ (802 ) $ (679 )

Distributions (Tables)

Distributions (Tables)	6 Months Ended
	Jun. 30, 2017
Equity [Abstract]
Schedule Of Distributions Declared	The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for each of the quarters ended during 2017 and 2016 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declares distributions to the Company’s stockholders as of daily record dates and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2017 June 30, 2017 $ 21,935 $ 22,953 $ 44,888 $ 21,053 (1) March 31, 2017 21,614 22,883 44,497 55,356 (2) Total $ 43,549 $ 45,836 $ 89,385 $ 76,409 2016 December 31, 2016 $ 21,843 $ 23,539 $ 45,382 $ 752 September 30, 2016 21,617 23,611 45,228 2,671 June 30, 2016 21,232 23,402 44,634 1,281 March 31, 2016 21,128 23,451 44,579 987 Total $ 85,820 $ 94,003 $ 179,823 $ 5,691 (1) For the three months ended June 30, 2017, distributions declared to the noncontrolling interests included a special distribution totaling $21.0 million to our JV partner in the Aviva Coral Gables JV, as a result of the sale of Aviva Coral Gables. (2) For the three months ended March 31, 2017 , distributions declared to the noncontrolling interests included a special distribution totaling $55.1 million to our JV partner in the Brindleyplace JV, as a result of the sale of the Brindleyplace Project.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2017
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions	The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended June 30, Six Months Ended June 30, Unpaid as of Type and Recipient 2017 2016 2017 2016 June 30, 2017 December 31, 2016 Issuer Costs- the Advisor $ 12 $ 11 $ 28 $ 26 $ 2 $ 8 Acquisition Fee - the Advisor and affiliates of Hines $ — $ — $ — $ — — 191 Asset Management Fee- the Advisor and affiliates of Hines $ 9,514 $ 9,079 $ 18,880 $ 18,269 2,864 8,922 Disposition Fee- the Advisor $ 1,040 $ 264 $ 2,879 $ 264 — 2,760 Other (1) $ 1,312 $ 1,230 $ 2,718 $ 2,630 889 1,644 Property Management Fee- Hines $ 1,796 $ 1,784 $ 3,632 $ 3,718 129 (46 ) Development/Construction Management Fee- Hines $ 327 $ 243 $ 491 $ 256 151 246 Leasing Fee- Hines $ 331 $ 1,027 $ 693 $ 3,162 2,857 3,455 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,849 $ 3,016 $ 5,649 $ 5,928 400 734 Due to Affiliates $ 7,292 $ 17,914 (1) 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.

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2017
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	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 other than percentages are in thousands). Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total Revenue Domestic office investments $ 43,596 $ 45,234 $ 87,691 $ 88,776 Domestic other investments 24,177 30,874 48,973 61,985 International office investments 21,994 27,776 46,337 54,912 International other investments 10,045 17,753 23,177 34,858 Total Revenue $ 99,812 $ 121,637 $ 206,178 $ 240,531 For the three and six months ended June 30, 2017 and 2016 the Company’s total revenue was attributable to the following countries: Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Total Revenue United States 68 % 62 % 67 % 63 % United Kingdom 8 % 16 % 10 % 16 % Australia 8 % 6 % 8 % 6 % Germany 6 % 6 % 6 % 5 % Poland 5 % 5 % 5 % 5 % Russia 4 % 2 % 3 % 2 % France 1 % 3 % 1 % 3 % For the three and six months ended June 30, 2017 and 2016 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Property revenues in excess of expenses (1) Domestic office investments $ 27,565 $ 29,838 $ 55,504 $ 57,871 Domestic other investments 15,606 19,768 31,268 39,981 International office investments 13,288 21,797 31,254 42,878 International other investments 7,779 12,960 17,295 24,747 Property revenues in excess of expenses $ 64,238 $ 84,363 $ 135,321 $ 165,477 (1) Revenues less property operating expenses, real property taxes and property management fees. As of June 30, 2017 and December 31, 2016 , the Company’s total assets by segment was as follows (in thousands): June 30, 2017 December 31, 2016 Total Assets Domestic office investments $ 1,423,383 $ 1,454,943 Domestic other investments 814,009 901,120 International office investments 1,078,527 1,003,616 International other investments 409,170 584,726 Corporate-level accounts 40,526 44,027 Total Assets $ 3,765,615 $ 3,988,432 As of June 30, 2017 and December 31, 2016 , the Company’s total assets were attributable to the following countries: June 30, 2017 December 31, 2016 Total Assets United States 60 % 59 % United Kingdom 11 % 15 % Australia 8 % 8 % Germany 8 % 7 % Poland 7 % 6 % France 4 % 3 % Russia 2 % 2 %
Reconciliation Of Net Income (Loss) From Segments To Consolidated	For the three and six months ended June 30, 2017 and 2016 , the reconciliation of the Company’s total property revenues in excess of expenses to the Company’s net income (loss) is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2017 2016 2017 2016 Reconciliation to property revenues in excess of expenses Net income (loss) $ 67,150 $ 9,155 $ 166,092 $ 15,630 Depreciation and amortization 34,634 46,074 72,244 89,704 Acquisition related expenses 52 31 113 172 Asset management and acquisition fees 9,514 9,079 18,880 18,269 General and administrative expenses 2,107 2,930 5,274 5,916 (Gain) loss on derivatives 789 117 802 679 Equity in (earnings) losses of unconsolidated entities — (7,565 ) — (7,601 ) (Gain) loss on sale of real estate investments (55,416 ) — (140,605 ) — Foreign currency (gains) losses (708 ) 6,925 (7,328 ) 7,080 Interest expense 14,905 16,332 29,588 32,591 Other (income) expenses (138 ) 152 (240 ) 65 (Benefit) provision for income taxes (8,651 ) 1,133 (9,499 ) 2,972 Total property revenues in excess of expenses $ 64,238 $ 84,363 $ 135,321 $ 165,477

Supplemental Cash Flow Disclo30

Supplemental Cash Flow Disclosures (Tables)	6 Months Ended
	Jun. 30, 2017
Supplemental Cash Flow Information [Abstract]
Schedule Of Cash Flow Supplemental Disclosures	Supplemental cash flow disclosures for the six months ended June 30, 2017 and 2016 (in thousands): Six Months Ended June 30, 2017 2016 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 28,315 $ 30,657 Cash paid for taxes $ 3,318 $ 4,862 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,788 $ 19,405 Distributions reinvested $ 46,216 $ 47,125 Shares tendered for redemption $ 10,924 $ 6,105 Accrued capital additions $ 3,242 $ 2,174

Organization (Public Offering)

Organization (Public Offering) (Details)	Apr. 24, 2014	Apr. 11, 2014	Aug. 05, 2009	Jun. 30, 2017USD ($)	Apr. 11, 2014public_offering	Jun. 30, 2017USD ($)
Public Offerings [Member]
Public Offering [Line Items]
Number of public offerings | public_offering					2
Proceeds from sale of common stock						$ 3,000,000,000
First Offering [Member]
Public Offering [Line Items]
Commencement date, public offering			Aug. 5, 2009
Second Offering [Member]
Public Offering [Line Items]
Termination date, public offering		Apr. 11, 2014
Dividend Reinvestment Plan [Member]
Public Offering [Line Items]
Commencement date, public offering	Apr. 24, 2014
Maximum proceeds authorized for public offering				$ 500,000,000

Organization (Real Estate Inves

Organization (Real Estate Investments) (Details) $ in Millions	6 Months Ended
	Jun. 30, 2017USD ($)real_estate_loanreal_estate_investment
Real Estate Investments And Segment [Line Items]
Number of real estate investments	38
Flagship Capital Joint Venture [Member]
Real Estate Investments And Segment [Line Items]
Ownership interest, parent	97.00%
Number of loans receivable, joint venture | real_estate_loan	2
Loans and leases receivable | $	$ 16.2
Domestic Office Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments	11
Domestic Other Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments	6
International Office Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments	10
International Other Investments [Member]
Real Estate Investments And Segment [Line Items]
Number of real estate investments	11

Organization (Schedule of Conso

Organization (Schedule of Consolidated VIEs) (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Maximum risk of loss	$ 15,469	$ 30,446
Assets held by VIEs	76,300	136,705
Assets held as collateral for debt	76,300	136,705
Liabilities held by VIEs	$ 48,878	$ 91,792

Organization (VIE disclosures)

Organization (VIE disclosures) (Details) - Variable Interest Entity, Primary Beneficiary [Member] - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016
Hines Global REIT, Inc [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Proceeds received from distributions, net of contributions, to joint venture	$ 37.5	$ 10.9
Proceeds from partnership contribution	0.5	$ 0.1
Aviva Coral Gables [Member]
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Proceeds received from distributions, net of contributions, to joint venture	$ 35.3

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Accounting Policies [Abstract]
Restricted cash - reclassified				$ 2.6
Allowance for doubtful accounts	$ 3.1		$ 3.1		$ 2.5
Debt Issuance Costs, Lines of Credit and Loans	8.9		8.9		10.8
Amortization of deferred financing costs	1.2	$ 1.3	2.3	$ 2.6
Liability related to prepaid rental payments	24.9		24.9		27.3
Straight line rent receivable	$ 56.4		$ 56.4		$ 89.4

Summary of Significant Accoun36

Summary of Significant Accounting Policies (Other Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Jun. 30, 2017
Real Estate Properties [Line Items]
Prepaid expenses	$ 2,647	$ 3,679
Deferred tax assets	11,259	24,649
Other	6,454	289
Other assets	20,360	28,617
Increase (decrease) in deposits	$ 6,300
New City and Poland Logistics Portfolio [Member]
Real Estate Properties [Line Items]
Deferred tax assets		$ 11,700

Investment Property (Details)

Investment Property (Details) $ in Thousands, £ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2016USD ($)	Feb. 28, 2017USD ($)£ / $	Feb. 28, 2017GBP (£)£ / $	Dec. 31, 2016USD ($)	Apr. 30, 2015USD ($)	Oct. 31, 2010USD ($)	Jul. 31, 2010USD ($)$ / £	Jul. 31, 2010GBP (£)$ / £
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, net	$ 2,882,045		$ 2,882,045				$ 3,049,643
Gain (loss) on sale of real estate investments	55,416	$ 0	140,605	$ 0
Building and improvements [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	2,449,312		2,449,312				2,612,274
Less: accumulated depreciation	(248,338)		(248,338)				(246,940)
Investment property, net	2,200,974		2,200,974				2,365,334
Land [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	$ 681,071		$ 681,071				$ 684,309
Brindleyplace JV [Member] | Hines Global REIT, Inc [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Ownership interest, parent	60.00%		60.00%
Brindleyplace Project [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property					$ 325,100	£ 260
Foreign currency exchange rate, translation (in usd per share)					1.25	1.25				1.52	1.52
Business acquisition, contract purchase price										$ 282,500	£ 186.2
Gain (loss) on sale of real estate investments			$ 85,100
Aviva Coral Gables [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property	$ 100,000		100,000
Total construction costs of property								$ 62,000
Gain (loss) on sale of real estate investments			$ 39,300
Aviva Coral Gables [Member] | Hines Global REIT, Inc [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Ownership interest, parent	83.00%		83.00%
Southpark [Member]
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property	$ 41,100		$ 41,100
Business acquisition, contract purchase price									$ 31,200
Gain (loss) on sale of real estate investments			$ 16,300

Investment Property (Intangible

Investment Property (Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Net	$ 457,018	$ 506,075
Out-of-Market Lease Liabilities [Abstract]
Out-of-Market Lease Liabilities, Cost	(113,847)	(116,717)
Out-of-Market Lease Liabilities, Less: accumulated amortization	37,862	34,363
Out-of-Market Lease Liabilities, Net	(75,985)	(82,354)
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Cost	743,887	793,018
Less: accumulated amortization	(323,384)	(334,249)
Net	420,503	458,769
Out-of-Market Lease Assets [Member]
Finite Lived Intangible Assets [Line Items]
Cost	90,207	96,912
Less: accumulated amortization	(53,692)	(49,606)
Net	$ 36,515	$ 47,306

Investment Property (Intangib39

Investment Property (Intangible Assets Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 17,800	$ 27,500	$ 38,200	$ 52,700
In-Place Leases
July 1, 2017 through December 31, 2017	31,854		31,854
2,018	54,807		54,807
2,019	43,696		43,696
2,020	34,989		34,989
2,021	23,951		23,951
Out-of-Market Leases, Net [Member]
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	(900)	$ 1,300	(500)	$ 1,600
Out-of-Market Leases, Net
July 1, 2017 through December 31, 2017	(491)		(491)
2,018	(1,937)		(1,937)
2,019	(3,388)		(3,388)
2,020	(3,262)		(3,262)
2,021	$ (1,057)		$ (1,057)

Investment Property (Future Min

Investment Property (Future Minimum Rent) (Details) $ in Thousands	Jun. 30, 2017USD ($)
Operating Leases Future Minimum Payments Receivable Abstract
July 1, 2017 through December 31, 2017	$ 144,341
2,018	271,772
2,019	252,737
2,020	221,301
2,021	186,370
Thereafter	956,097
Total	$ 2,032,618

Real Estate Loans Receivable (D

Real Estate Loans Receivable (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Real Estate Loans Receivable	$ 16,372	$ 15,291
Flagship Capital JV [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate (as a percent)	6.33%
Total Loan Commitment	$ 18,172
Loans receivable	16,249	15,224
(Origination) / Exit fees	$ 123	67
Flagship Capital JV [Member] | Randalls [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate (as a percent)	6.25%
Total Loan Commitment	$ 10,939
Loans receivable	$ 9,536	8,953
Flagship Capital JV [Member] | Finesilver [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate (as a percent)	6.45%
Total Loan Commitment	$ 7,233
Loans receivable	$ 6,713	$ 6,271

Debt Financing (Narratives) (De

Debt Financing (Narratives) (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Aug. 14, 2017	Jun. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt, principal outstanding		$ 1,979,650	$ 2,215,717
Debt, weighted average years to maturity		2 years 1 month 6 days	2 years 4 months 24 days
Debt, weighted average interest rate (percent)		2.60%	2.40%
Debt instrument, description of variable rate basis		LIBOR, EURIBOR or the BBSY screen rate
Minimum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)		1.50%	1.50%
Maximum [Member]
Debt Instrument [Line Items]
Cap interest rate (percent)		4.00%	4.00%
Interest Rate Caps [Member]
Debt Instrument [Line Items]
Debt instrument principal amount capped		$ 427,000	$ 398,800
Revolving Credit Facility (Including Revolving and Term Loans) [Member]
Debt Instrument [Line Items]
Credit facility, additional borrowings		60,000
Repayments of revolving credit facility		$ 151,000
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Subsequent Event [Member]
Debt Instrument [Line Items]
Repayments of revolving credit facility	$ 28,000
Credit facility, principal outstanding	$ 495,000
London Interbank Offered Rate (LIBOR) [Member] | Minimum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.65%
London Interbank Offered Rate (LIBOR) [Member] | Maximum [Member]
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		2.50%

Debt Financing Debt Financing S

Debt Financing Debt Financing Schedule of Long Term Debt (Details) $ in Thousands, AUD in Millions	1 Months Ended
	May 30, 2017USD ($)$ / AUD	May 30, 2017AUD$ / AUD	Jun. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt, Principal Outstanding			$ 1,979,650	$ 2,215,717
Unamortized Deferred Financing Fees			(7,004)	(8,418)
Notes Payable			$ 1,972,646	2,207,299
Revolving Credit Facility- Revolving Loan [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rate (percent)			2.73%
Credit facility, principal outstanding			$ 28,000	119,000
Revolving Credit Facility- Term Loan [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rate (percent)			2.68%
Credit facility, principal outstanding			$ 495,000	495,000
Brindleyplace JV [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Debt, Principal Outstanding				149,343
Fifty South Sixth [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.65%
Debt, Principal Outstanding			$ 125,000	125,000
Flagship Capital Joint Venture [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Credit facility, Interest Rate (percent)			4.25%
Credit facility, principal outstanding			$ 1,210	512
One Hundred Brookes Street [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			3.77%
Debt, Principal Outstanding			$ 27,670	31,109
Reduction In basis spread on variable rate debt	0.20%	0.20%
Repayments of debt	$ 5,400	AUD 7.2
Foreign currency exchange rate, translation (in usd per share) | $ / AUD	0.74	0.74
Poland Logistics Portfolio [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.00%
Debt, Principal Outstanding			$ 68,518	64,294
Minneapolis Retail Center [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			3.50%
Debt, Principal Outstanding			$ 65,500	65,500
Eight Twenty Five Ann [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.32%
Debt, Principal Outstanding			$ 62,283	58,320
Mercedes Benz Bank [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			1.23%
Debt, Principal Outstanding			$ 37,865	35,041
465 Victoria [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.97%
Debt, Principal Outstanding			$ 40,895	38,293
New City [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.30%
Debt, Principal Outstanding			$ 78,127	73,612
One Westferry Circus [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			3.30%
Debt, Principal Outstanding			$ 62,410	59,213
The Campus at Playa Vista [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.46%
Debt, Principal Outstanding			$ 150,000	150,000
Perspective Defense [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.17%
Debt, Principal Outstanding			$ 79,961	73,612
Fiege Mega Centre [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			1.37%
Debt, Principal Outstanding			$ 25,819	23,924
55 M Street [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.67%
Debt, Principal Outstanding			$ 72,000	72,000
25 Cabot Square [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			3.50%
Debt, Principal Outstanding			$ 160,900	152,658
Simon Hegele Logistics [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			1.90%
Debt, Principal Outstanding			$ 40,165	37,167
818 Bourke [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.37%
Debt, Principal Outstanding			$ 65,523	62,254
The Summit [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.61%
Debt, Principal Outstanding			$ 170,000	170,000
Harder Logistics Portfolio [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			0.95%
Debt, Principal Outstanding			$ 77,907	72,275
Water Wall Place [Member] | Construction Loan Payable [Member]
Debt Instrument [Line Items]
Effective interest rate (percent)			2.83%
Debt, Principal Outstanding			$ 44,897	44,897
Ponce And Bird [Member] | Construction Loan Payable [Member]
Debt Instrument [Line Items]
Debt, Principal Outstanding				$ 42,693
Minimum [Member] | Flagship Capital Joint Venture [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Variable interest rate, floor (percent)			4.25%

Debt Financing (Maturity Schedu

Debt Financing (Maturity Schedule) (Details) $ in Thousands	Jun. 30, 2017USD ($)
Maturities Of Long Term Debt Abstract
July 1, 2017 through December 31, 2017	$ 76,068
2,018	558,789
2,019	876,587
2,020	224,514
2,021	73,692
Thereafter	$ 170,000

Derivative Instruments (Details

Derivative Instruments (Details)	Jun. 30, 2017EUR (€)
Foreign Currency Forward Contract Effective June 27 2017
Derivative [Line Items]
Derivative, notional amount	€ 80,000,000

Derivative Instruments (Fair Va

Derivative Instruments (Fair Value on Balance Sheet) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 13	$ 40
Derivative Liabilities	(771)	0
Interest Rate Caps [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	13	40
Derivative Liabilities	0	$ 0
Forward Contracts [Member]
Derivatives, Fair Value [Line Items]
Derivative Assets	0
Derivative Liabilities	$ (771)

Derivative Instruments (Stateme

Derivative Instruments (Statement of Operations Gain Loss) (Details) - Not Designated as Hedging Instrument - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ (789)	$ (117)	$ (802)	$ (679)
Interest Rate Caps [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	(18)	$ (117)	(31)	$ (679)
Forward Contracts [Member]
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ (771)		$ (771)

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended						6 Months Ended	12 Months Ended	20 Months Ended
	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Jun. 30, 2017	Dec. 31, 2016	Aug. 31, 2017
Other Ownership Interests [Line Items]
Cash Distributions	$ 21,935	$ 21,614	$ 21,843	$ 21,617	$ 21,232	$ 21,128	$ 43,549	$ 85,820
Distributions Reinvested	22,953	22,883	23,539	23,611	23,402	23,451	45,836	94,003
Total Declared	44,888	44,497	45,382	45,228	44,634	44,579	89,385	179,823
Distributions declared, noncontrolling interest	21,053	55,356	$ 752	$ 2,671	$ 1,281	$ 987	$ 76,409	$ 5,691
Forecast [Member]
Other Ownership Interests [Line Items]
Distributions declared (in dollars per share, per day)									$ 0.0017808
Ponce And Bird [Member]
Other Ownership Interests [Line Items]
Distributions declared, noncontrolling interest	$ 21,000
Brindleyplace JV [Member]
Other Ownership Interests [Line Items]
Distributions declared, noncontrolling interest		$ 55,100

Related Party Transactions (by

Related Party Transactions (by Category) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Due to Affiliates	$ 7,292		$ 7,292		$ 17,914
The Advisor [Member] | Issuer Costs [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	12	$ 11	28	$ 26
Due to Affiliates	2		2		8
The Advisor [Member] | Disposition Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,040	264	2,879	264
Due to Affiliates	0		0		2,760
The Advisor [Member] | Other Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,312	1,230	2,718	2,630
Due to Affiliates	889		889		1,644
The Advisor and Affiliate of Hines [Member] | Acquisition Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	0	0	0
Due to Affiliates	0		0		191
The Advisor and Affiliate of Hines [Member] | Asset Management Fee [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	9,514	9,079	18,880	18,269
Due to Affiliates	2,864		2,864		8,922
Hines [Member] | Property Management Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,796	1,784	3,632	3,718
Due to Affiliates	129		129		(46)
Hines [Member] | Development/Construction Management Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	327	243	491	256
Due to Affiliates	151		151		246
Hines [Member] | Leasing Fees [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	331	1,027	693	3,162
Due to Affiliates	2,857		2,857		3,455
Hines [Member] | Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Expenses from transactions with related party	2,849	$ 3,016	5,649	$ 5,928
Due to Affiliates	$ 400		$ 400		$ 734

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value Measurements Nonrecurring [Member] - USD ($) $ in Billions	Jun. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable carrying amount	$ 2	$ 2.2
Fair Value, Inputs, Level 2 [Member]
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable fair value	$ 2	$ 2.2

Reportable Segments (Narratives

Reportable Segments (Narratives) (Details)	6 Months Ended
	Jun. 30, 2017real_estate_investmentsegment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Number of real estate investments	38
Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments	11
Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments	6
International Office Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments	10
International Other Investments [Member]
Segment Reporting Information [Line Items]
Number of real estate investments	11

Reportable Segments (Revenue) (

Reportable Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Revenues	$ 99,812	$ 121,637	$ 206,178	$ 240,531
Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Revenues	43,596	45,234	87,691	88,776
Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Revenues	24,177	30,874	48,973	61,985
International Office Investments [Member]
Segment Reporting Information [Line Items]
Revenues	21,994	27,776	46,337	54,912
International Other Investments [Member]
Segment Reporting Information [Line Items]
Revenues	$ 10,045	$ 17,753	$ 23,177	$ 34,858

Reportable Segments (Geographic

Reportable Segments (Geographical) (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Total Revenue [Member] | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)	68.00%	62.00%	67.00%	63.00%
Total Revenue [Member] | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)	8.00%	16.00%	10.00%	16.00%
Total Revenue [Member] | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)	8.00%	6.00%	8.00%	6.00%
Total Revenue [Member] | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)	6.00%	6.00%	6.00%	5.00%
Total Revenue [Member] | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)	5.00%	5.00%	5.00%	5.00%
Total Revenue [Member] | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)	4.00%	2.00%	3.00%	2.00%
Total Revenue [Member] | France
Segment Reporting Information [Line Items]
Concentration risk (percent)	1.00%	3.00%	1.00%	3.00%
Total Assets [Member] | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)			60.00%	59.00%
Total Assets [Member] | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)			11.00%	15.00%
Total Assets [Member] | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)			8.00%	8.00%
Total Assets [Member] | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)			8.00%	7.00%
Total Assets [Member] | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)			7.00%	6.00%
Total Assets [Member] | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)			2.00%	2.00%
Total Assets [Member] | France
Segment Reporting Information [Line Items]
Concentration risk (percent)			4.00%	3.00%

Reportable Segments (Property R

Reportable Segments (Property Revenue in Excess of Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	$ 64,238	$ 84,363	$ 135,321	$ 165,477
Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	27,565	29,838	55,504	57,871
Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	15,606	19,768	31,268	39,981
International Office Investments [Member]
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	13,288	21,797	31,254	42,878
International Other Investments [Member]
Segment Reporting Information [Line Items]
Property revenues in excess of expenses	$ 7,779	$ 12,960	$ 17,295	$ 24,747

Reportable Segments (Assets) (D

Reportable Segments (Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total Assets	$ 3,765,615	$ 3,988,432
Domestic Office Investments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,423,383	1,454,943
Domestic Other Investments [Member]
Segment Reporting Information [Line Items]
Total Assets	814,009	901,120
International Office Investments [Member]
Segment Reporting Information [Line Items]
Total Assets	1,078,527	1,003,616
International Other Investments [Member]
Segment Reporting Information [Line Items]
Total Assets	409,170	584,726
Corporate Segment [Member]
Segment Reporting Information [Line Items]
Total Assets	$ 40,526	$ 44,027

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Jun. 30, 2017	Jun. 30, 2016
Segment Reporting Information [Line Items]
Net income (loss)	$ 67,150	$ 9,155	$ 166,092	$ 15,630
Depreciation and amortization	(34,634)	(46,074)	(72,244)	(89,704)
Acquisition related expenses	(52)	(31)	(113)	(172)
Asset management and acquisition fees	(9,514)	(9,079)	(18,880)	(18,269)
General and administrative expenses	(2,107)	(2,930)	(5,274)	(5,916)
(Gain) loss on derivatives	(789)	(117)	(802)	(679)
Equity in (earnings) losses of unconsolidated entities	0	(7,565)	0	(7,601)
(Gain) loss on sale of real estate investments	55,416	0	140,605	0
Foreign currency (gains) losses	708	(6,925)	7,328	(7,080)
Interest expense	(14,905)	(16,332)	(29,588)	(32,591)
Other (income) expenses	138	(152)	240	(65)
(Benefit) provision for income taxes	8,651	(1,133)	9,499	(2,972)
Total property revenues in excess of expenses	64,238	84,363	135,321	165,477
Segment Reconciling Items [Member]
Segment Reporting Information [Line Items]
Net income (loss)	67,150	9,155	166,092	15,630
Depreciation and amortization	34,634	46,074	72,244	89,704
Acquisition related expenses	52	31	113	172
Asset management and acquisition fees	9,514	9,079	18,880	18,269
General and administrative expenses	2,107	2,930	5,274	5,916
(Gain) loss on derivatives	789	117	802	679
Equity in (earnings) losses of unconsolidated entities	0	(7,565)	0	(7,601)
(Gain) loss on sale of real estate investments	(55,416)	0	(140,605)	0
Foreign currency (gains) losses	(708)	6,925	(7,328)	7,080
Interest expense	14,905	16,332	29,588	32,591
Other (income) expenses	(138)	152	(240)	65
(Benefit) provision for income taxes	(8,651)	1,133	(9,499)	2,972
Total property revenues in excess of expenses	$ 64,238	$ 84,363	$ 135,321	$ 165,477

Supplemental Cash Flow Disclo57

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2017	Jun. 30, 2016	Dec. 31, 2016
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$ 28,315	$ 30,657
Cash paid for taxes	3,318	4,862
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	14,788	19,405	$ 21,178
Distributions reinvested	46,216	47,125
Shares tendered for redemption	10,924	6,105
Accrued capital additions	$ 3,242	$ 2,174

Commitments and Contingencies (

Commitments and Contingencies (Details) - Fifty South Sixth [Member] - USD ($) $ in Millions	Jun. 30, 2017	May 30, 2016	Nov. 30, 2013
Dorsey and Whitney LLP [Member]
Other Commitments [Line Items]
Tenant improvement, maximum exposure			$ 20.8
Tenant improvement, unfunded amount	$ 8.6
Stinson Leonard Street LLP [Member]
Other Commitments [Line Items]
Tenant improvement, maximum exposure		$ 12.2
Tenant improvement, unfunded amount	$ 10.2

Subsequent Events (Details)

Subsequent Events (Details) - Mercedes Benz Bank [Member] € in Millions, $ in Millions	Jul. 31, 2017EUR (€)€ / $	Jul. 31, 2017USD ($)€ / $	Feb. 28, 2013EUR (€)€ / $	Feb. 28, 2013USD ($)€ / $
Subsequent Event [Line Items]
Foreign currency exchange rate, translation (in usd per share)			1.35	1.35
Business acquisition, contract purchase price			€ 51.9	$ 70.2
Subsequent Event [Member]
Subsequent Event [Line Items]
Sale consideration of sold property	€ 117	$ 133.2
Foreign currency exchange rate, translation (in usd per share)	1.14	1.14