HGR Liquidating Trust 10-Q 13 Nov 17 2017 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	9 Months Ended
	Sep. 30, 2017	Nov. 06, 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	Sep. 30, 2017
Amendment Flag	false
Document Fiscal Year Focus	2,017
Document Fiscal Period Focus	Q3
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity, Common Stock, Shares, Outstanding		274.7

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
ASSETS
Investment property, net	$ 2,857,236	$ 3,049,643
Cash and cash equivalents	167,696	127,393
Restricted cash	17,892	29,331
Derivative instruments	7	40
Tenant and other receivables, net	84,176	109,879
Intangible lease assets, net	442,194	506,075
Deferred leasing costs, net	139,772	127,995
Deferred financing costs, net	1,705	2,425
Real estate loans receivable, net	9,713	15,291
Other assets	27,756	20,360
Total assets	3,748,147	3,988,432
Liabilities:
Accounts payable and accrued expenses	135,013	110,219
Due to affiliates	7,248	17,914
Intangible lease liabilities, net	73,533	82,354
Other liabilities	35,082	41,233
Distributions payable	14,740	21,178
Notes payable, net	1,918,016	2,207,299
Total liabilities	2,183,632	2,480,197
Commitments and contingencies
Stockholders’ equity:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of September 30, 2017 and December 31, 2016
Common stock, $.001 par value; 1,500,000 shares authorized, 275,889 and 277,331 issued and outstanding as of September 30, 2017 and December 31, 2016, respectively	276	277
Additional paid-in capital	2,482,973	2,507,186
Accumulated distributions in excess of earnings	(854,251)	(843,900)
Accumulated other comprehensive income (loss)	(144,152)	(199,929)
Total stockholders’ equity	1,484,846	1,463,634
Noncontrolling interests	79,669	44,601
Total equity	1,564,515	1,508,235
Total liabilities and equity	$ 3,748,147	$ 3,988,432

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Sep. 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	275,889,000	277,331,000
Common stock, shares outstanding	275,889,000	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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Revenues:
Rental revenue	$ 93,959	$ 111,993	$ 287,650	$ 332,965
Other revenue	6,401	9,861	18,888	29,421
Total revenues	100,360	121,854	306,538	362,386
Expenses:
Property operating expenses	22,038	22,844	63,741	68,467
Real property taxes	12,351	13,030	37,208	37,729
Property management fees	2,033	2,498	6,331	7,238
Depreciation and amortization	32,936	44,116	105,180	133,819
Acquisition related expenses	0	91	113	263
Asset management and acquisition fees	9,690	9,204	28,570	27,473
General and administrative expenses	2,002	2,859	7,277	8,775
Total expenses	81,050	94,642	248,420	283,764
Income (loss) before other income (expenses) and benefit (provision) for income taxes	19,310	27,212	58,118	78,622
Other income (expenses):
Gain (loss) on derivative instruments	174	(29)	(628)	(708)
Equity in earnings (losses) of unconsolidated entities	0	(73)	0	7,528
Gain (loss) on sale of real estate investments	78,577	0	219,182	0
Foreign currency gains (losses)	(1,941)	3,282	5,386	(3,798)
Interest expense	(14,435)	(16,135)	(44,024)	(48,727)
Other income (expenses)	226	143	466	78
Income (loss) before benefit (provision) for income taxes	81,911	14,400	238,500	32,995
Benefit (provision) for income taxes	(950)	(2,032)	8,548	(5,004)
Provision for income taxes related to sale of real estate	(12,911)	0	(12,911)	0
Net income (loss)	68,050	12,368	234,137	27,991
Net (income) loss attributable to noncontrolling interests	(1,259)	(2,160)	(109,848)	(5,091)
Net income (loss) attributable to common stockholders	$ 66,791	$ 10,208	$ 124,289	$ 22,900
Basic and diluted income (loss) per common share (in dollars per share)	$ 0.24	$ 0.04	$ 0.45	$ 0.08
Distributions declared per common share (in dollars per share)	$ 0.16	$ 0.16	$ 0.49	$ 0.49
Weighted average number of common shares outstanding	276,228	276,067	276,950	275,539
Net comprehensive income (loss):
Net income (loss)	$ 68,050	$ 12,368	$ 234,137	$ 27,991
Other comprehensive income (loss):
Foreign currency translation adjustment	10,471	2,026	59,159	(10,904)
Net comprehensive income (loss)	78,521	14,394	293,296	17,087
Net comprehensive (income) loss attributable to noncontrolling interests	(1,265)	(1,507)	(113,230)	(2,205)
Net comprehensive income (loss) attributable to common stockholders	$ 77,256	$ 12,887	$ 180,066	$ 14,882

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Hines Global REIT, Inc. Common Stock	Additional Paid-in Capital	Accumulated Distributions in Excess of Earnings	Accumulated Other Comprehensive Income (Loss)	Total Stockholders’ Equity	Noncontrolling Interests
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		7,043
Issuance of common shares		$ 7	70,741			70,748
Distributions declared				(134,441)		(134,441)	(1,875)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(3,064)
Redemption of common shares, shares		(5,153)
Redemption of common shares		$ (5)	(49,997)			(50,002)
Issuer costs			(34)			(34)
Net income (loss)	$ 27,991			22,900		22,900	5,091
Foreign currency translation adjustment	$ (10,904)				(8,018)	(8,018)	(2,886)
Ending balance, shares at Sep. 30, 2016		276,372
Ending balance at Sep. 30, 2016		$ 276	2,497,454	(926,668)	(171,114)	1,399,948	45,195
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		6,887
Issuance of common shares		$ 7	69,274			69,281
Contribution from noncontrolling interest							33
Distributions declared				(134,640)		(134,640)	(21,534)
Distributions on Convertible Preferred Equity Certificates (CPEC)							(56,661)
Redemption of common shares, shares		(8,329)
Redemption of common shares		$ (8)	(93,455)			(93,463)
Issuer costs			(32)			(32)
Net income (loss)	234,137			124,289		124,289	109,848
Foreign currency translation adjustment	$ 59,159				50,982	50,982	(232)
Foreign currency translation adjustment reclassified into earnings					4,795	4,795	3,614
Ending balance, shares at Sep. 30, 2017	275,889	275,889
Ending balance at Sep. 30, 2017	$ 1,564,515	$ 276	$ 2,482,973	$ (854,251)	$ (144,152)	$ 1,484,846	$ 79,669

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 234,137	$ 27,991
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization	121,068	148,573
Allowance for deferred tax assets	(11,172)	0
Equity in (earnings) losses of unconsolidated entities	0	(7,528)
Distributions from unconsolidated entities	0	7,528
Foreign currency (gains) losses	(5,386)	3,798
(Gain) loss on the sale of real estate investments	(219,182)	0
(Gain) loss on derivative instruments	628	708
Changes in assets and liabilities:
Change in other assets	4,418	(833)
Change in tenant and other receivables	3,265	(26,908)
Change in deferred leasing costs	(33,933)	(29,861)
Change in accounts payable and accrued expenses	10,184	8,132
Change in other liabilities	(7,233)	(6,745)
Change in due to affiliates	(9,953)	(1,615)
Net cash from operating activities	86,841	123,240
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of real estate investments	565,703	0
Capital expenditures at operating properties and developments	(33,984)	(13,017)
Distributions from unconsolidated entity in excess of equity in earnings	0	1,982
Investments in real estate loans receivable	(1,743)	(5,949)
Proceeds from collection of real estate loans receivable	7,181	28,767
Net cash from investing activities	537,157	11,783
CASH FLOWS FROM FINANCING ACTIVITIES:
Redemption of common shares	(82,654)	(50,628)
Payments of issuer costs	(37)	(38)
Distributions paid to stockholders and noncontrolling interests	(150,072)	(67,444)
Proceeds from notes payable	123,059	109,000
Payments on notes payable	(494,797)	(139,431)
Change in security deposit liability	(9)	116
Deferred financing costs paid	(265)	(339)
Payments related to interest rate contracts	(8)	(55)
Net cash used in financing activities	(604,783)	(148,819)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash	9,649	(2,165)
Net change in cash, cash equivalents, and restricted cash	28,864	(15,961)
Cash, cash equivalents, and restricted cash, beginning of period	156,724	156,391
Cash, cash equivalents, and restricted cash, end of period	$ 185,588	$ 140,430

Organization

Organization	9 Months Ended
	Sep. 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 September 30, 2017 , the results of operations for the three and nine months ended September 30, 2017 and 2016 and cash flows for the nine months ended September 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 $3.1 billion , including the DRP Offering, all of which have been invested in the Company’s real estate portfolio. By the end of 2015, the Company completed its investment of the proceeds raised through its public offerings and owned interests in 43 real estate investments. Since that time, the Company has sold its interests in 6 real estate investments. As of September 30, 2017 , the Company owned interests in 37 real estate investments, consisting of the following types of investments and one investment in real-estate related debt, as described below: • Domestic office investments ( 11 investments) • Domestic other investments ( 6 investments) • International office investments ( 9 investments) • International other investments ( 11 investments) Discussed below are additional details related to the Company’s investment in real estate-related debt as of September 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 issued 16 loans between 2011 and 2014, only one of which was outstanding as of September 30, 2017 , totaling $9.7 million . 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): September 30, 2017 December 31, 2016 Maximum risk of loss (1) $ 9,769 $ 30,446 Assets held by VIEs $ 69,679 $ 136,705 Assets held as collateral for debt $ 69,679 $ 136,705 Liabilities held by VIEs $ 48,070 $ 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 nine months ended September 30, 2017 , the Company received distributions of $43.2 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 nine months ended September 30, 2016 , the Company received capital distributions of $20.4 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	9 Months Ended
	Sep. 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 $1.4 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 $3.2 million and $2.5 million at September 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 $8.2 million and $10.8 million as of September 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 September 30, 2017 and 2016 , $1.1 million and $1.2 million , respectively, were amortized into interest expense in the accompanying condensed consolidated statement of operations. For the nine months ended September 30, 2017 and 2016 , $3.4 million and $3.8 million , respectively, were amortized into interest expense in the accompanying condensed consolidated statement of operations. Other Assets Other assets included the following (in thousands): September 30, 2017 December 31, 2016 Prepaid expenses $ 2,847 $ 2,647 Deferred tax assets (1) 24,493 11,259 Other (2) 416 6,454 Other assets $ 27,756 $ 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 September 30, 2017 and December 31, 2016 , respectively, the Company recorded liabilities of $21.5 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 $59.3 million and $89.4 million as of September 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. 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. The Company has completed its initial assessment of 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. While the Company expects there to be no material change to its revenue recognition as a result of the adoption of ASU 2014-09, the Company is still evaluating the impact of this adoption on our identified sources of revenue. The Company is also evaluating its controls around the implementation of ASU 2014-09 and believes there will be no significant impact on its control structure. In February 2016, the FASB issued ASU 2016-02 which 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 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 Company expects that upon the adoption of this guidance most real estate acquisitions (if any) will be accounted for under the asset acquisition (or disposal) guidance and, accordingly, any future acquisition expenses related to these acquisitions will be capitalized. The amendments to the Codification will be 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 to adopt ASU 2017-01 beginning January 1, 2018.

Investment Property

Investment Property	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
INVESTMENT PROPERTY	INVESTMENT PROPERTY Investment property consisted of the following amounts as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Buildings and improvements $ 2,443,547 $ 2,612,274 Less: accumulated depreciation (261,180 ) (246,940 ) Buildings and improvements, net 2,182,367 2,365,334 Land 674,869 684,309 Investment property, net $ 2,857,236 $ 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 $84.3 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 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 $39.2 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). 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 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). The Company recognized a gain on sale of this asset of $79.4 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). Additionally, the Company incurred a €11.3 million (approximately $12.9 million based on an exchange rate of $1.14 per EUR as of the transaction date) income tax provision related to the sale of this property, which was recorded in “Provision for income taxes related to the sale of real estate” in the condensed consolidated statements of operations and comprehensive income (loss). As of September 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 $ 741,180 $ 87,414 $ (113,730 ) Less: accumulated amortization (332,446 ) (53,954 ) 40,197 Net $ 408,734 $ 33,460 $ (73,533 ) 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 $16.2 million and $25.5 million for the three months ended September 30, 2017 and 2016 , respectively. Net amortization of out-of-market leases resulted in an increase to rental revenue of $0.3 million for the three months ended September 30, 2017 , and a decrease to rental revenue of $0.8 million for the three months ended September 30, 2016 . Amortization expense of in-place leases was $54.5 million and $78.2 million for the nine months ended September 30, 2017 and 2016 , respectively. Net amortization of out-of-market leases resulted in an increase to rental revenue of $0.8 million for the nine months ended September 30, 2017 and a decrease to rental revenue of $2.4 million for the nine months ended September 30, 2016 . Anticipated amortization of in-place leases and out-of-market leases, net, for the period from October 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 October 1, 2017 through December 31, 2017 $ 15,524 $ (301 ) 2018 53,642 (2,093 ) 2019 44,177 (3,336 ) 2020 35,487 (3,209 ) 2021 24,513 (1,005 ) Leases The Company has entered into non-cancelable lease agreements with tenants for space. As of September 30, 2017 , the approximate fixed future minimum rentals for the period from October 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 October 1, 2017 through December 31, 2017 $ 70,670 2018 276,200 2019 261,673 2020 229,864 2021 193,773 Thereafter 964,114 Total $ 1,996,294 During the nine months ended September 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	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOANS RECEIVABLE Real estate loans receivable included the following at September 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 6.50% (1) $ 10,939 $ 9,673 $ 8,953 Finesilver 7/31/2014 10/31/2017 N/A (2) 7,233 — 6,271 6.50% $ 18,172 $ 9,673 $ 15,224 (Origination) / Exit fees 40 67 Total Real Estate Loans Receivable $ 9,713 $ 15,291 (1) In June 2017, the maturity date of this loan was extended to July 28, 2018. (2) In August 2017, the outstanding principal balance of the loan was paid in full.

Debt Financing

Debt Financing	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
DEBT FINANCING	DEBT FINANCING As of September 30, 2017 and December 31, 2016 , the Company had approximately $1.9 billion and $2.2 billion of principal outstanding, respectively, with a weighted average years to maturity of 1.9 years and 2.4 years , respectively, and a weighted average interest rate of 2.7% and 2.4% , respectively. The following table describes the Company’s debt outstanding at September 30, 2017 and December 31, 2016 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of September 30, 2017 Principal Outstanding at September 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 2.84 % 125,000 125,000 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% N/A — 512 100 Brookes 7/13/2012 1/31/2018 (2) Variable 3.75 % 28,188 31,109 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 70,509 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 2.30 % 63,450 58,320 Mercedes Benz Bank 2/7/2013 12/31/2019 (3) Variable, subject to interest rate cap N/A — 35,041 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 2.95 % 41,661 38,293 New City 3/28/2013 3/18/2018 Variable, subject to interest rate cap 2.30 % 80,229 73,612 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 64,282 59,213 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 2.64 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 82,691 73,612 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.37 % 26,613 23,924 55 M Street 12/9/2013 12/9/2017 (4) Variable N/A — 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 165,726 152,658 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 41,430 37,167 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.35 % 66,751 62,254 The Summit 3/4/2015 4/1/2022 Variable 2.79 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 80,567 72,275 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 2.74 % (5) 62,000 119,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 2.69 % 495,000 495,000 WaterWall Place Loan 6/29/2012 5/8/2018 Variable 2.84 % (5) 44,897 44,897 Aviva Coral Gables JV Loan 5/10/2013 7/10/2017 (6) Variable N/A — 42,693 Total Principal Outstanding $ 1,924,494 $ 2,215,717 Unamortized Deferred Financing Fees $ (6,478 ) $ (8,418 ) Notes Payable $ 1,918,016 $ 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) In September 2017 , the Company paid off the secured mortgage loan related to 55 M Street in full. (5) Represents the weighted average interest rate as of September 30, 2017 . (6) 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 September 30, 2017 , $399.5 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 September 2017 , the Company borrowed approximately $122.0 million and made payments of approximately $179.0 million under its revolving credit facility with JPMorgan Chase Bank, National Association (the “Revolving Credit Facility”). From October 1, 2017 through November 13, 2017 , the Company made an additional borrowing of $12.0 million under the Revolving Credit Facility. The borrowing resulted in an outstanding principal balance of $569.0 million on the Revolving Credit Facility as of November 13, 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 September 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 October 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 October 1, 2017 through December 31, 2017 2018 2019 2020 2021 Thereafter Principal payments $ 2,792 $ 564,517 $ 879,724 $ 231,253 $ 76,208 $ 170,000

Derivative Instruments

Derivative Instruments	9 Months Ended
	Sep. 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 3 — Investment Property 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 September 30, 2017 and December 31, 2016 (in thousands): Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Derivatives not designated as hedging instruments: Interest rate caps $ 7 $ 40 $ — $ — Foreign currency forward contracts — — — — Total derivatives $ 7 $ 40 $ — $ — The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives not designated as hedging instruments: Interest rate caps $ (13 ) $ (29 ) $ (44 ) $ (708 ) Foreign currency forward contracts 187 — (584 ) — Total gain (loss) on derivatives $ 174 $ (29 ) $ (628 ) $ (708 )

Distributions

Distributions	9 Months Ended
	Sep. 30, 2017
Equity [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS The Company has declared distributions for the months of January 2016 through November 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 September 30, 2017 $ 22,224 $ 23,031 $ 45,255 $ 1,786 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 $ 65,773 $ 68,867 $ 134,640 $ 78,195 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 the Company’s 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 the Company’s JV partner in the Brindleyplace JV, as a result of the sale of the Brindleyplace Project.

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, Unpaid as of Type and Recipient 2017 2016 2017 2016 September 30, 2017 December 31, 2016 Issuer Costs- the Advisor $ 4 $ 8 $ 32 $ 34 $ — $ 8 Acquisition Fee - the Advisor and affiliates of Hines $ — $ — $ — $ — — 191 Asset Management Fee- the Advisor and affiliates of Hines $ 9,690 $ 9,204 $ 28,570 $ 27,473 2,840 8,922 Disposition Fee- the Advisor $ 1,320 $ — $ 4,199 $ 264 — 2,760 Other (1) $ 1,646 $ 1,508 $ 4,364 $ 4,137 1,027 1,644 Property Management Fee- Hines $ 1,784 $ 1,983 $ 5,411 $ 5,699 138 (46 ) Development/Construction Management Fee- Hines $ 430 $ 190 $ 921 $ 549 227 246 Leasing Fee- Hines $ 998 $ 431 $ 1,691 $ 3,593 2,442 3,455 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,660 $ 2,894 $ 8,286 $ 8,816 574 734 Due to Affiliates $ 7,248 $ 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	9 Months Ended
	Sep. 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 September 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 September 30, 2017 , the Company estimated that the fair value of its notes payable, which had a book value of $1.9 billion , was $1.9 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 September 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 September 30, 2017 , the Company estimated that the book value of its real estate loan receivable approximates its fair value. 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 note receivable falls within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of real estate note receivable utilizes Level 3 inputs. However, as of September 30, 2017 , the Company has assessed the significance of the impact of the credit quality adjustments on the valuation of its fair market value of real estate note receivable and has determined that they are not significant. As a result, the Company has determined this financial instrument utilizes Level 2 inputs. Since this amount is an estimate that is based on limited available market information for similar transactions, there can be no assurance that the disclosed value could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Financial Instruments Measured on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. As of September 30, 2017 and September 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	9 Months Ended
	Sep. 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 September 30, 2017 : • Domestic office investments ( 11 investments) • Domestic other investments ( 6 investments) • International office investments ( 9 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Revenue Domestic office investments $ 43,522 $ 44,121 $ 131,211 $ 132,898 Domestic other investments 21,825 31,328 70,800 93,313 International office investments 24,581 30,463 70,918 85,375 International other investments 10,432 15,942 33,609 50,800 Total Revenue $ 100,360 $ 121,854 $ 306,538 $ 362,386 For the three and nine months ended September 30, 2017 and 2016 the Company’s total revenue was attributable to the following countries: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Revenue United States 65 % 61 % 66 % 63 % United Kingdom 9 % 14 % 10 % 15 % Australia 10 % 7 % 9 % 6 % Germany 5 % 5 % 6 % 5 % Poland 6 % 5 % 5 % 5 % Russia 3 % 3 % 3 % 2 % France 2 % 5 % 1 % 4 % For the three and nine months ended September 30, 2017 and 2016 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Property revenues in excess of expenses (1) Domestic office investments $ 27,223 $ 28,022 $ 82,724 $ 85,895 Domestic other investments 14,004 19,926 45,275 59,899 International office investments 14,733 24,199 45,986 67,077 International other investments 7,978 11,335 25,273 36,081 Property revenues in excess of expenses $ 63,938 $ 83,482 $ 199,258 $ 248,952 (1) Revenues less property operating expenses, real property taxes and property management fees. As of September 30, 2017 and December 31, 2016 , the Company’s total assets by segment was as follows (in thousands): September 30, 2017 December 31, 2016 Total Assets Domestic office investments $ 1,415,828 $ 1,454,943 Domestic other investments 803,733 901,120 International office investments 1,051,021 1,003,616 International other investments 419,178 584,726 Corporate-level accounts 58,387 44,027 Total Assets $ 3,748,147 $ 3,988,432 As of September 30, 2017 and December 31, 2016 , the Company’s total assets were attributable to the following countries: September 30, 2017 December 31, 2016 Total Assets United States 61 % 59 % United Kingdom 11 % 15 % Australia 9 % 8 % Germany 6 % 7 % Poland 7 % 6 % France 4 % 3 % Russia 2 % 2 % For the three and nine months ended September 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Reconciliation to property revenues in excess of expenses Net income (loss) $ 68,050 $ 12,368 $ 234,137 $ 27,991 Depreciation and amortization 32,936 44,116 105,180 133,819 Acquisition related expenses — 91 113 263 Asset management and acquisition fees 9,690 9,204 28,570 27,473 General and administrative expenses 2,002 2,859 7,277 8,775 (Gain) loss on derivatives (174 ) 29 628 708 Equity in (earnings) losses of unconsolidated entities — 73 — (7,528 ) (Gain) loss on sale of real estate investments (78,577 ) — (219,182 ) — Foreign currency (gains) losses 1,941 (3,282 ) (5,386 ) 3,798 Interest expense 14,435 16,135 44,024 48,727 Other (income) expenses (226 ) (143 ) (466 ) (78 ) (Benefit) provision for income taxes 950 2,032 (8,548 ) 5,004 Provision for income taxes related to sale of real estate 12,911 — 12,911 — Total property revenues in excess of expenses $ 63,938 $ 83,482 $ 199,258 $ 248,952

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 30, 2017 2016 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 41,583 $ 45,551 Cash paid for taxes $ 5,973 $ 7,248 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,740 $ 20,393 Distributions reinvested $ 69,282 $ 70,748 Shares tendered for redemption $ 15,797 $ 4,620 Accrued capital additions $ 5,684 $ 3,639

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 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 September 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 September 30, 2017 , $4.4 million of the Company’s commitment remained unfunded and is recorded in accounts payable and accrued expenses in the accompanying condensed consolidated balance sheets. The Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on the Company’s condensed consolidated financial statements. *****

Summary of Significant Accoun19

Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 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 $1.4 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 $8.2 million and $10.8 million as of September 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 September 30, 2017 and December 31, 2016 , respectively, the Company recorded liabilities of $21.5 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 $59.3 million and $89.4 million as of September 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. 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. The Company has completed its initial assessment of 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. While the Company expects there to be no material change to its revenue recognition as a result of the adoption of ASU 2014-09, the Company is still evaluating the impact of this adoption on our identified sources of revenue. The Company is also evaluating its controls around the implementation of ASU 2014-09 and believes there will be no significant impact on its control structure. In February 2016, the FASB issued ASU 2016-02 which 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 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 Company expects that upon the adoption of this guidance most real estate acquisitions (if any) will be accounted for under the asset acquisition (or disposal) guidance and, accordingly, any future acquisition expenses related to these acquisitions will be capitalized. The amendments to the Codification will be 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 to adopt ASU 2017-01 beginning January 1, 2018.
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 September 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 September 30, 2017 , the Company estimated that the book value of its real estate loan receivable approximates its fair value. 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 note receivable falls within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of real estate note receivable utilizes Level 3 inputs. However, as of September 30, 2017 , the Company has assessed the significance of the impact of the credit quality adjustments on the valuation of its fair market value of real estate note receivable and has determined that they are not significant. As a result, the Company has determined this financial instrument utilizes Level 2 inputs. Since this amount is an estimate that is based on limited available market information for similar transactions, there can be no assurance that the disclosed value could be realized. Other financial instruments not measured at fair value on a recurring basis include cash and cash equivalents, restricted cash, distributions receivable, tenant and other receivables, accounts payable and accrued expenses, other liabilities, due to affiliates and distributions payable. The carrying value of these items reasonably approximates their fair value based on their highly-liquid nature and/or short-term maturities. Due to the short-term nature of these instruments, Level 1 and Level 2 inputs are utilized to estimate the fair value of these financial instruments. Financial Instruments Measured on a Nonrecurring Basis Certain long-lived assets are measured at fair value on a non-recurring basis. These assets are not measured at fair value on an ongoing basis, but are subject to fair value adjustments (i.e., impairments) in certain circumstances. The inputs associated with the valuation of long-lived assets are generally included in Level 3 of the fair value hierarchy. As of September 30, 2017 and September 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 September 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)	9 Months Ended
	Sep. 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): September 30, 2017 December 31, 2016 Maximum risk of loss (1) $ 9,769 $ 30,446 Assets held by VIEs $ 69,679 $ 136,705 Assets held as collateral for debt $ 69,679 $ 136,705 Liabilities held by VIEs $ 48,070 $ 91,792 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIEs.

Summary of Significant Accoun21

Summary of Significant Accounting Policies (Tables)	9 Months Ended
	Sep. 30, 2017
Accounting Policies [Abstract]
Schedule Of Other Assets	Other assets included the following (in thousands): September 30, 2017 December 31, 2016 Prepaid expenses $ 2,847 $ 2,647 Deferred tax assets (1) 24,493 11,259 Other (2) 416 6,454 Other assets $ 27,756 $ 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)	9 Months Ended
	Sep. 30, 2017
Real Estate [Abstract]
Schedule Of Property Subject To Or Available For Operating Lease	Investment property consisted of the following amounts as of September 30, 2017 and December 31, 2016 (in thousands): September 30, 2017 December 31, 2016 Buildings and improvements $ 2,443,547 $ 2,612,274 Less: accumulated depreciation (261,180 ) (246,940 ) Buildings and improvements, net 2,182,367 2,365,334 Land 674,869 684,309 Investment property, net $ 2,857,236 $ 3,049,643
Schedule Of Acquired Finite-Lived Intangible Assets By Major Class	As of September 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 $ 741,180 $ 87,414 $ (113,730 ) Less: accumulated amortization (332,446 ) (53,954 ) 40,197 Net $ 408,734 $ 33,460 $ (73,533 ) 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 October 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 October 1, 2017 through December 31, 2017 $ 15,524 $ (301 ) 2018 53,642 (2,093 ) 2019 44,177 (3,336 ) 2020 35,487 (3,209 ) 2021 24,513 (1,005 )
Schedule Of Future Minimum Rental Income For Operating Leases	As of September 30, 2017 , the approximate fixed future minimum rentals for the period from October 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 October 1, 2017 through December 31, 2017 $ 70,670 2018 276,200 2019 261,673 2020 229,864 2021 193,773 Thereafter 964,114 Total $ 1,996,294

Real Estate Loans Receivable (T

Real Estate Loans Receivable (Tables)	9 Months Ended
	Sep. 30, 2017
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	Real estate loans receivable included the following at September 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 6.50% (1) $ 10,939 $ 9,673 $ 8,953 Finesilver 7/31/2014 10/31/2017 N/A (2) 7,233 — 6,271 6.50% $ 18,172 $ 9,673 $ 15,224 (Origination) / Exit fees 40 67 Total Real Estate Loans Receivable $ 9,713 $ 15,291 (1) In June 2017, the maturity date of this loan was extended to July 28, 2018. (2) In August 2017, the outstanding principal balance of the loan was paid in full.

Debt Financing (Tables)

Debt Financing (Tables)	9 Months Ended
	Sep. 30, 2017
Debt Disclosure [Abstract]
Schedule Of Debt	The following table describes the Company’s debt outstanding at September 30, 2017 and December 31, 2016 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of September 30, 2017 Principal Outstanding at September 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 2.84 % 125,000 125,000 Flagship Capital JV 7/2/2014 7/2/2019 Variable, subject to floor of 4.25% N/A — 512 100 Brookes 7/13/2012 1/31/2018 (2) Variable 3.75 % 28,188 31,109 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 70,509 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 2.30 % 63,450 58,320 Mercedes Benz Bank 2/7/2013 12/31/2019 (3) Variable, subject to interest rate cap N/A — 35,041 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 2.95 % 41,661 38,293 New City 3/28/2013 3/18/2018 Variable, subject to interest rate cap 2.30 % 80,229 73,612 One Westferry Circus 5/9/2013 5/5/2020 Fixed 3.30 % 64,282 59,213 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 2.64 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 82,691 73,612 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.37 % 26,613 23,924 55 M Street 12/9/2013 12/9/2017 (4) Variable N/A — 72,000 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 165,726 152,658 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 41,430 37,167 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.35 % 66,751 62,254 The Summit 3/4/2015 4/1/2022 Variable 2.79 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 80,567 72,275 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 2.74 % (5) 62,000 119,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 2.69 % 495,000 495,000 WaterWall Place Loan 6/29/2012 5/8/2018 Variable 2.84 % (5) 44,897 44,897 Aviva Coral Gables JV Loan 5/10/2013 7/10/2017 (6) Variable N/A — 42,693 Total Principal Outstanding $ 1,924,494 $ 2,215,717 Unamortized Deferred Financing Fees $ (6,478 ) $ (8,418 ) Notes Payable $ 1,918,016 $ 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) In September 2017 , the Company paid off the secured mortgage loan related to 55 M Street in full. (5) Represents the weighted average interest rate as of September 30, 2017 . (6) 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 October 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 October 1, 2017 through December 31, 2017 2018 2019 2020 2021 Thereafter Principal payments $ 2,792 $ 564,517 $ 879,724 $ 231,253 $ 76,208 $ 170,000

Derivative Instruments (Tables)

Derivative Instruments (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 and December 31, 2016 (in thousands): Derivative Assets Derivative Liabilities September 30, December 31, September 30, December 31, Derivatives not designated as hedging instruments: Interest rate caps $ 7 $ 40 $ — $ — Foreign currency forward contracts — — — — Total derivatives $ 7 $ 40 $ — $ — The table below presents the effects of the changes in fair value of the Company’s derivative instruments in the Company’s condensed consolidated statements of operations and comprehensive income (loss) for the three and nine months ended September 30, 2017 and 2016 (in thousands): Gain (Loss) Recorded on Derivative Instruments Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, Derivatives not designated as hedging instruments: Interest rate caps $ (13 ) $ (29 ) $ (44 ) $ (708 ) Foreign currency forward contracts 187 — (584 ) — Total gain (loss) on derivatives $ 174 $ (29 ) $ (628 ) $ (708 )

Distributions (Tables)

Distributions (Tables)	9 Months Ended
	Sep. 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 September 30, 2017 $ 22,224 $ 23,031 $ 45,255 $ 1,786 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 $ 65,773 $ 68,867 $ 134,640 $ 78,195 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 the Company’s 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 the Company’s JV partner in the Brindleyplace JV, as a result of the sale of the Brindleyplace Project.

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, Unpaid as of Type and Recipient 2017 2016 2017 2016 September 30, 2017 December 31, 2016 Issuer Costs- the Advisor $ 4 $ 8 $ 32 $ 34 $ — $ 8 Acquisition Fee - the Advisor and affiliates of Hines $ — $ — $ — $ — — 191 Asset Management Fee- the Advisor and affiliates of Hines $ 9,690 $ 9,204 $ 28,570 $ 27,473 2,840 8,922 Disposition Fee- the Advisor $ 1,320 $ — $ 4,199 $ 264 — 2,760 Other (1) $ 1,646 $ 1,508 $ 4,364 $ 4,137 1,027 1,644 Property Management Fee- Hines $ 1,784 $ 1,983 $ 5,411 $ 5,699 138 (46 ) Development/Construction Management Fee- Hines $ 430 $ 190 $ 921 $ 549 227 246 Leasing Fee- Hines $ 998 $ 431 $ 1,691 $ 3,593 2,442 3,455 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,660 $ 2,894 $ 8,286 $ 8,816 574 734 Due to Affiliates $ 7,248 $ 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)	9 Months Ended
	Sep. 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Revenue Domestic office investments $ 43,522 $ 44,121 $ 131,211 $ 132,898 Domestic other investments 21,825 31,328 70,800 93,313 International office investments 24,581 30,463 70,918 85,375 International other investments 10,432 15,942 33,609 50,800 Total Revenue $ 100,360 $ 121,854 $ 306,538 $ 362,386 For the three and nine months ended September 30, 2017 and 2016 the Company’s total revenue was attributable to the following countries: Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Total Revenue United States 65 % 61 % 66 % 63 % United Kingdom 9 % 14 % 10 % 15 % Australia 10 % 7 % 9 % 6 % Germany 5 % 5 % 6 % 5 % Poland 6 % 5 % 5 % 5 % Russia 3 % 3 % 3 % 2 % France 2 % 5 % 1 % 4 % For the three and nine months ended September 30, 2017 and 2016 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Property revenues in excess of expenses (1) Domestic office investments $ 27,223 $ 28,022 $ 82,724 $ 85,895 Domestic other investments 14,004 19,926 45,275 59,899 International office investments 14,733 24,199 45,986 67,077 International other investments 7,978 11,335 25,273 36,081 Property revenues in excess of expenses $ 63,938 $ 83,482 $ 199,258 $ 248,952 (1) Revenues less property operating expenses, real property taxes and property management fees. As of September 30, 2017 and December 31, 2016 , the Company’s total assets by segment was as follows (in thousands): September 30, 2017 December 31, 2016 Total Assets Domestic office investments $ 1,415,828 $ 1,454,943 Domestic other investments 803,733 901,120 International office investments 1,051,021 1,003,616 International other investments 419,178 584,726 Corporate-level accounts 58,387 44,027 Total Assets $ 3,748,147 $ 3,988,432 As of September 30, 2017 and December 31, 2016 , the Company’s total assets were attributable to the following countries: September 30, 2017 December 31, 2016 Total Assets United States 61 % 59 % United Kingdom 11 % 15 % Australia 9 % 8 % Germany 6 % 7 % Poland 7 % 6 % France 4 % 3 % Russia 2 % 2 %
Reconciliation Of Net Income (Loss) From Segments To Consolidated	For the three and nine months ended September 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 September 30, Nine Months Ended September 30, 2017 2016 2017 2016 Reconciliation to property revenues in excess of expenses Net income (loss) $ 68,050 $ 12,368 $ 234,137 $ 27,991 Depreciation and amortization 32,936 44,116 105,180 133,819 Acquisition related expenses — 91 113 263 Asset management and acquisition fees 9,690 9,204 28,570 27,473 General and administrative expenses 2,002 2,859 7,277 8,775 (Gain) loss on derivatives (174 ) 29 628 708 Equity in (earnings) losses of unconsolidated entities — 73 — (7,528 ) (Gain) loss on sale of real estate investments (78,577 ) — (219,182 ) — Foreign currency (gains) losses 1,941 (3,282 ) (5,386 ) 3,798 Interest expense 14,435 16,135 44,024 48,727 Other (income) expenses (226 ) (143 ) (466 ) (78 ) (Benefit) provision for income taxes 950 2,032 (8,548 ) 5,004 Provision for income taxes related to sale of real estate 12,911 — 12,911 — Total property revenues in excess of expenses $ 63,938 $ 83,482 $ 199,258 $ 248,952

Supplemental Cash Flow Disclo29

Supplemental Cash Flow Disclosures (Tables)	9 Months Ended
	Sep. 30, 2017
Supplemental Cash Flow Information [Abstract]
Schedule Of Cash Flow Supplemental Disclosures	Supplemental cash flow disclosures for the nine months ended September 30, 2017 and 2016 (in thousands): Nine Months Ended September 30, 2017 2016 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 41,583 $ 45,551 Cash paid for taxes $ 5,973 $ 7,248 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,740 $ 20,393 Distributions reinvested $ 69,282 $ 70,748 Shares tendered for redemption $ 15,797 $ 4,620 Accrued capital additions $ 5,684 $ 3,639

Organization (Public Offering)

Organization (Public Offering) (Details)	Apr. 24, 2014	Apr. 11, 2014	Aug. 05, 2009	Sep. 30, 2017USD ($)	Apr. 11, 2014public_offering	Sep. 30, 2017USD ($)
Public Offerings
Public Offering [Line Items]
Number of public offerings | public_offering					2
Proceeds from sale of common stock						$ 3,100,000,000
First Offering
Public Offering [Line Items]
Commencement date, public offering			Aug. 5, 2009
Second Offering
Public Offering [Line Items]
Termination date, public offering		Apr. 11, 2014
Dividend Reinvestment Plan
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)	9 Months Ended	21 Months Ended	48 Months Ended
	Sep. 30, 2017USD ($)real_estate_loanreal_estate_investment	Sep. 30, 2017USD ($)real_estate_investment	Dec. 31, 2014real_estate_loan	Dec. 31, 2015real_estate_investment
Real Estate Investments And Segment [Line Items]
Number of real estate investments	37	37		43
Number real estate investments sold | $		6
Flagship Capital JV
Real Estate Investments And Segment [Line Items]
Ownership interest, parent	97.00%	97.00%
Number of loans receivable, joint venture | real_estate_loan	1		16
Loans and leases receivable | $	$ 9,700,000	$ 9,700,000
Domestic office investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments	11	11
Domestic other investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments	6	6
International office investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments	9	9
International other investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments	11	11

Organization (Schedule of Conso

Organization (Schedule of Consolidated VIEs) (Details) - Consolidated VIEs - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Variable Interest Entity [Line Items]
Maximum risk of loss	$ 9,769	$ 30,446
Assets held by VIEs	69,679	136,705
Assets held as collateral for debt	69,679	136,705
Liabilities held by VIEs	$ 48,070	$ 91,792

Organization (VIE disclosures)

Organization (VIE disclosures) (Details) - Consolidated VIEs - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016
Hines Global REIT, Inc
Subsidiary of Limited Liability Company or Limited Partnership [Line Items]
Proceeds received from distributions, net of contributions, to joint venture	$ 43.2	$ 20.4
Proceeds from partnership contribution	0.5	$ 0.1
Aviva Coral Gables JV Loan
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 Accoun34

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Accounting Policies [Abstract]
Restricted cash - reclassified				$ 1.4
Allowance for doubtful accounts	$ 3.2		$ 3.2		$ 2.5
Debt Issuance Costs, Lines of Credit and Loans	8.2		8.2		10.8
Amortization of deferred financing costs	1.1	$ 1.2	3.4	$ 3.8
Liability related to prepaid rental payments	21.5		21.5		27.3
Straight line rent receivable	$ 59.3		$ 59.3		$ 89.4

Summary of Significant Accoun35

Summary of Significant Accounting Policies (Other Assets) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Sep. 30, 2017
Accounting Policies [Abstract]
Prepaid expenses	$ 2,647	$ 2,847
Deferred tax assets	11,259	24,493
Other	6,454	416
Other assets	20,360	$ 27,756
Increase (decrease) in deposits	$ 6,300

Investment Property (Details)

Investment Property (Details) $ in Thousands, € in Millions, £ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2017EUR (€)	Sep. 30, 2017USD ($)	Sep. 30, 2016USD ($)	Jul. 31, 2017EUR (€)$ / €	Jul. 31, 2017USD ($)$ / €	Jun. 30, 2017USD ($)	Feb. 28, 2017USD ($)$ / £	Feb. 28, 2017GBP (£)$ / £	Feb. 27, 2017	Dec. 31, 2016USD ($)	Apr. 30, 2015USD ($)	Feb. 28, 2013EUR (€)$ / €	Feb. 28, 2013USD ($)$ / €	Oct. 31, 2010USD ($)	Jul. 31, 2010USD ($)$ / £	Jul. 31, 2010GBP (£)$ / £
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, net	$ 2,857,236			$ 2,857,236								$ 3,049,643
Gain (loss) on sale of real estate investments	78,577	$ 0		219,182	$ 0
Provision for income taxes related to sale of real estate	12,911	$ 0		12,911	$ 0
Building and improvements
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	2,443,547			2,443,547								2,612,274
Less: accumulated depreciation	(261,180)			(261,180)								(246,940)
Investment property, net	2,182,367			2,182,367								2,365,334
Land
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	$ 674,869			674,869								$ 684,309
Brindleyplace JV | Hines Global REIT, Inc
Property Subject To Or Available For Operating Lease [Line Items]
Ownership interest, parent											60.00%
Brindleyplace Project
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				84,300
Aviva Coral Gables JV
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property								$ 100,000
Gain (loss) on sale of real estate investments				39,200
Total construction costs of property													$ 62,000
Aviva Coral Gables JV | Hines Global REIT, Inc
Property Subject To Or Available For Operating Lease [Line Items]
Ownership interest, parent								83.00%
Southpark
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property								$ 41,100
Business acquisition, contract purchase price																$ 31,200
Gain (loss) on sale of real estate investments				16,300
Mercedes Benz Bank
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property						€ 117	$ 133,200
Foreign currency exchange rate, translation (in usd per share) | $ / €						1.14	1.14							1.35	1.35
Business acquisition, contract purchase price														€ 51.9	$ 70,200
Gain (loss) on sale of real estate investments				79,400
Provision for income taxes related to sale of real estate			€ 11.3	$ 12,900

Investment Property (Intangible

Investment Property (Intangible Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Finite Lived Intangible Assets [Line Items]
Net	$ 442,194	$ 506,075
Out-of-Market Lease Liabilities
Out-of-Market Lease Liabilities, Cost	(113,730)	(116,717)
Out-of-Market Lease Liabilities, Less: accumulated amortization	40,197	34,363
Out-of-Market Lease Liabilities, Net	(73,533)	(82,354)
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Cost	741,180	793,018
Less: accumulated amortization	(332,446)	(334,249)
Net	408,734	458,769
Out-of-Market Lease Assets
Finite Lived Intangible Assets [Line Items]
Cost	87,414	96,912
Less: accumulated amortization	(53,954)	(49,606)
Net	$ 33,460	$ 47,306

Investment Property (Intangib38

Investment Property (Intangible Assets Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	$ 16,200	$ 25,500	$ 54,500	$ 78,200
In-Place Leases
October 1, 2017 through December 31, 2017	15,524		15,524
2,018	53,642		53,642
2,019	44,177		44,177
2,020	35,487		35,487
2,021	24,513		24,513
Out-of-Market Leases, Net
Finite Lived Intangible Assets [Line Items]
Amortization of Intangible Assets	(300)	$ 800	(800)	$ 2,400
Out-of-Market Leases, Net
October 1, 2017 through December 31, 2017	(301)		(301)
2,018	(2,093)		(2,093)
2,019	(3,336)		(3,336)
2,020	(3,209)		(3,209)
2,021	$ (1,005)		$ (1,005)

Investment Property (Future Min

Investment Property (Future Minimum Rent) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Fixed Future Minimum Rentals
October 1, 2017 through December 31, 2017	$ 70,670
2,018	276,200
2,019	261,673
2,020	229,864
2,021	193,773
Thereafter	964,114
Total	$ 1,996,294

Real Estate Loans Receivable (D

Real Estate Loans Receivable (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Dec. 31, 2016
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Real Estate Loans Receivable	$ 9,713	$ 15,291
Flagship Capital JV
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate (as a percent)	6.50%
Total Loan Commitment	$ 18,172
Loans receivable	9,673	15,224
(Origination) / Exit fees	$ 40	67
Flagship Capital JV | Randall’s
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest Rate (as a percent)	6.50%
Total Loan Commitment	$ 10,939
Loans receivable	9,673	8,953
Flagship Capital JV | Finesilver
Accounts, Notes, Loans and Financing Receivable [Line Items]
Total Loan Commitment	7,233
Loans receivable	$ 0	$ 6,271

Debt Financing (Narratives) (De

Debt Financing (Narratives) (Details) - USD ($) $ in Thousands	1 Months Ended	9 Months Ended	12 Months Ended
	Nov. 13, 2017	Sep. 30, 2017	Dec. 31, 2016
Debt Instrument [Line Items]
Debt, principal outstanding		$ 1,924,494	$ 2,215,717
Debt, weighted average years to maturity		1 year 10 months 24 days	2 years 4 months 24 days
Debt, weighted average interest rate (percent)		2.70%	2.40%
Debt instrument, description of variable rate basis		LIBOR, EURIBOR or the BBSY screen rate
Minimum
Debt Instrument [Line Items]
Cap interest rate (percent)		1.50%	1.50%
Maximum
Debt Instrument [Line Items]
Cap interest rate (percent)		4.00%	4.00%
Interest rate caps
Debt Instrument [Line Items]
Debt instrument principal amount capped		$ 399,500	$ 398,800
Revolving Credit Facility (Including Revolving and Term Loans) [Member]
Debt Instrument [Line Items]
Credit facility, additional borrowings		122,000
Repayments of revolving credit facility		$ 179,000
Revolving Credit Facility (Including Revolving and Term Loans) [Member] | Subsequent Event
Debt Instrument [Line Items]
Credit facility, additional borrowings	$ 12,000
Credit facility, principal outstanding	$ 569,000
London Interbank Offered Rate (LIBOR) | Minimum
Debt Instrument [Line Items]
Debt instrument, basis spread on variable rate		0.65%
London Interbank Offered Rate (LIBOR) | Maximum
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	Sep. 30, 2017USD ($)	Dec. 31, 2016USD ($)
Debt Instrument [Line Items]
Debt, principal outstanding			$ 1,924,494	$ 2,215,717
Unamortized Deferred Financing Fees			(6,478)	(8,418)
Notes Payable			$ 1,918,016	2,207,299
JPMorgan Chase Revolving Credit Facility - Revolving Loan
Debt Instrument [Line Items]
Credit facility, interest rate (percent)			2.74%
Credit facility, principal outstanding			$ 62,000	119,000
JPMorgan Chase Revolving Credit Facility - Term Loan
Debt Instrument [Line Items]
Credit facility, interest rate (percent)			2.69%
Credit facility, principal outstanding			$ 495,000	495,000
Brindleyplace Project | Secured Debt
Debt Instrument [Line Items]
Debt, principal outstanding				149,343
Fifty South Sixth | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.84%
Debt, principal outstanding			$ 125,000	125,000
Flagship Capital JV | Secured Debt
Debt Instrument [Line Items]
Credit facility, principal outstanding				512
100 Brookes | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			3.75%
Debt, principal outstanding			$ 28,188	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 | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.00%
Debt, principal outstanding			$ 70,509	64,294
Minneapolis Retail Center | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			3.50%
Debt, principal outstanding			$ 65,500	65,500
825 Ann | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.30%
Debt, principal outstanding			$ 63,450	58,320
Mercedes Benz Bank | Secured Debt
Debt Instrument [Line Items]
Debt, principal outstanding				35,041
465 Victoria | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.95%
Debt, principal outstanding			$ 41,661	38,293
New City | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.30%
Debt, principal outstanding			$ 80,229	73,612
One Westferry Circus | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			3.30%
Debt, principal outstanding			$ 64,282	59,213
The Campus at Playa Vista | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.64%
Debt, principal outstanding			$ 150,000	150,000
Perspective Défense | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.17%
Debt, principal outstanding			$ 82,691	73,612
Fiege Mega Centre | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			1.37%
Debt, principal outstanding			$ 26,613	23,924
55 M Street | Secured Debt
Debt Instrument [Line Items]
Debt, principal outstanding				72,000
25 Cabot Square | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			3.50%
Debt, principal outstanding			$ 165,726	152,658
Simon Hegele Logistics | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			1.90%
Debt, principal outstanding			$ 41,430	37,167
818 Bourke | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.35%
Debt, principal outstanding			$ 66,751	62,254
The Summit | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			2.79%
Debt, principal outstanding			$ 170,000	170,000
Harder Logistics Portfolio | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)			0.95%
Debt, principal outstanding			$ 80,567	72,275
WaterWall Place Loan | Construction Loan Payable
Debt Instrument [Line Items]
Effective interest rate (percent)			2.84%
Debt, principal outstanding			$ 44,897	44,897
Aviva Coral Gables JV Loan | Construction Loan Payable
Debt Instrument [Line Items]
Debt, principal outstanding				$ 42,693
Minimum | Flagship Capital JV | Secured Debt
Debt Instrument [Line Items]
Variable interest rate, floor (percent)			4.25%

Debt Financing (Maturity Schedu

Debt Financing (Maturity Schedule) (Details) $ in Thousands	Sep. 30, 2017USD ($)
Principal payments
October 1, 2017 through December 31, 2017	$ 2,792
2,018	564,517
2,019	879,724
2,020	231,253
2,021	76,208
Thereafter	$ 170,000

Derivative Instruments (Details

Derivative Instruments (Details)	Jun. 27, 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) - Derivatives not designated as hedging instruments: - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Derivatives, Fair Value [Line Items]
Derivative Assets	$ 7	$ 40
Derivative Liabilities	0	0
Interest rate caps
Derivatives, Fair Value [Line Items]
Derivative Assets	7	40
Derivative Liabilities	0	$ 0
Foreign currency forward contracts
Derivatives, Fair Value [Line Items]
Derivative Assets	0
Derivative Liabilities	$ 0

Derivative Instruments (Stateme

Derivative Instruments (Statement of Operations Gain Loss) (Details) - Derivatives not designated as hedging instruments: - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ 174	$ (29)	$ (628)	$ (708)
Interest rate caps
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	(13)	$ (29)	(44)	$ (708)
Foreign currency forward contracts
Derivative Instruments, Gain (Loss) [Line Items]
Total gain (loss) on derivatives	$ 187		$ (584)

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended							9 Months Ended	12 Months Ended	23 Months Ended
	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Sep. 30, 2017	Dec. 31, 2016	Nov. 30, 2017
Other Ownership Interests [Line Items]
Cash Distributions	$ 22,224	$ 21,935	$ 21,614	$ 21,843	$ 21,617	$ 21,232	$ 21,128	$ 65,773	$ 85,820
Distributions Reinvested	23,031	22,953	22,883	23,539	23,611	23,402	23,451	68,867	94,003
Total Declared	45,255	44,888	44,497	45,382	45,228	44,634	44,579	134,640	179,823
Distributions declared, noncontrolling interest	$ 1,786	21,053	55,356	$ 752	$ 2,671	$ 1,281	$ 987	$ 78,195	$ 5,691
Forecast
Other Ownership Interests [Line Items]
Distributions declared (in dollars per share, per day)										$ 0.0017808
Aviva Coral Gables JV Loan
Other Ownership Interests [Line Items]
Distributions declared, noncontrolling interest		$ 21,000
Brindleyplace JV
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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Related Party Transaction [Line Items]
Due to Affiliates	$ 7,248		$ 7,248		$ 17,914
The Advisor | Issuer Costs- the Advisor
Related Party Transaction [Line Items]
Expenses from transactions with related party	4	$ 8	32	$ 34
Due to Affiliates	0		0		8
The Advisor | Disposition Fee- the Advisor
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,320	0	4,199	264
Due to Affiliates	0		0		2,760
The Advisor | Other Fees
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,646	1,508	4,364	4,137
Due to Affiliates	1,027		1,027		1,644
The Advisor and Affiliate of Hines | Acquisition Fee - the Advisor and affiliates of Hines
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 | Asset Management Fee- the Advisor and affiliates of Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	9,690	9,204	28,570	27,473
Due to Affiliates	2,840		2,840		8,922
Hines | Property Management Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,784	1,983	5,411	5,699
Due to Affiliates	138		138		(46)
Hines | Development/Construction Management Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	430	190	921	549
Due to Affiliates	227		227		246
Hines | Leasing Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	998	431	1,691	3,593
Due to Affiliates	2,442		2,442		3,455
Hines | Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties)
Related Party Transaction [Line Items]
Expenses from transactions with related party	2,660	$ 2,894	8,286	$ 8,816
Due to Affiliates	$ 574		$ 574		$ 734

Fair Value Measurements (Detail

Fair Value Measurements (Details) - Fair Value Measurements Nonrecurring - USD ($) $ in Billions	Sep. 30, 2017	Dec. 31, 2016
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable carrying amount	$ 1.9	$ 2.2
Level 2
Fair Value Assets And Liabilities Measured On Recurring And Nonrecurring Basis [Line Items]
Notes payable fair value	$ 1.9	$ 2.2

Reportable Segments (Narratives

Reportable Segments (Narratives) (Details)	9 Months Ended
	Sep. 30, 2017real_estate_investmentsegment	Dec. 31, 2015real_estate_investment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Number of real estate investments	37	43
Domestic office investments
Segment Reporting Information [Line Items]
Number of real estate investments	11
Domestic other investments
Segment Reporting Information [Line Items]
Number of real estate investments	6
International office investments
Segment Reporting Information [Line Items]
Number of real estate investments	9
International other investments
Segment Reporting Information [Line Items]
Number of real estate investments	11

Reportable Segments (Revenue) (

Reportable Segments (Revenue) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Revenues	$ 100,360	$ 121,854	$ 306,538	$ 362,386
Domestic office investments
Segment Reporting Information [Line Items]
Revenues	43,522	44,121	131,211	132,898
Domestic other investments
Segment Reporting Information [Line Items]
Revenues	21,825	31,328	70,800	93,313
International office investments
Segment Reporting Information [Line Items]
Revenues	24,581	30,463	70,918	85,375
International other investments
Segment Reporting Information [Line Items]
Revenues	$ 10,432	$ 15,942	$ 33,609	$ 50,800

Reportable Segments (Geographic

Reportable Segments (Geographical) (Details)	3 Months Ended		9 Months Ended		12 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Total Revenue | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)	65.00%	61.00%	66.00%	63.00%
Total Revenue | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)	9.00%	14.00%	10.00%	15.00%
Total Revenue | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)	10.00%	7.00%	9.00%	6.00%
Total Revenue | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)	5.00%	5.00%	6.00%	5.00%
Total Revenue | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)	6.00%	5.00%	5.00%	5.00%
Total Revenue | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)	3.00%	3.00%	3.00%	2.00%
Total Revenue | France
Segment Reporting Information [Line Items]
Concentration risk (percent)	2.00%	5.00%	1.00%	4.00%
Total Assets | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)			61.00%		59.00%
Total Assets | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)			11.00%		15.00%
Total Assets | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)			9.00%		8.00%
Total Assets | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)			6.00%		7.00%
Total Assets | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)			7.00%		6.00%
Total Assets | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)			2.00%		2.00%
Total Assets | 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		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	$ 63,938	$ 83,482	$ 199,258	$ 248,952
Domestic office investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	27,223	28,022	82,724	85,895
Domestic other investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	14,004	19,926	45,275	59,899
International office investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	14,733	24,199	45,986	67,077
International other investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	$ 7,978	$ 11,335	$ 25,273	$ 36,081

Reportable Segments (Assets) (D

Reportable Segments (Assets) (Details) - USD ($) $ in Thousands	Sep. 30, 2017	Dec. 31, 2016
Segment Reporting Information [Line Items]
Total Assets	$ 3,748,147	$ 3,988,432
Domestic office investments
Segment Reporting Information [Line Items]
Total Assets	1,415,828	1,454,943
Domestic other investments
Segment Reporting Information [Line Items]
Total Assets	803,733	901,120
International office investments
Segment Reporting Information [Line Items]
Total Assets	1,051,021	1,003,616
International other investments
Segment Reporting Information [Line Items]
Total Assets	419,178	584,726
Corporate Segment
Segment Reporting Information [Line Items]
Total Assets	$ 58,387	$ 44,027

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Sep. 30, 2017	Sep. 30, 2016
Segment Reporting Information [Line Items]
Net income (loss)	$ 68,050	$ 12,368	$ 234,137	$ 27,991
Depreciation and amortization	(32,936)	(44,116)	(105,180)	(133,819)
Acquisition related expenses	0	(91)	(113)	(263)
Asset management and acquisition fees	(9,690)	(9,204)	(28,570)	(27,473)
General and administrative expenses	(2,002)	(2,859)	(7,277)	(8,775)
(Gain) loss on derivatives	174	(29)	(628)	(708)
Equity in (earnings) losses of unconsolidated entities	0	73	0	(7,528)
(Gain) loss on sale of real estate investments	78,577	0	219,182	0
Foreign currency (gains) losses	(1,941)	3,282	5,386	(3,798)
Interest expense	(14,435)	(16,135)	(44,024)	(48,727)
Other (income) expenses	226	143	466	78
(Benefit) provision for income taxes	950	2,032	(8,548)	5,004
Provision for income taxes related to sale of real estate	12,911	0	12,911	0
Total property revenues in excess of expenses	63,938	83,482	199,258	248,952
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net income (loss)	68,050	12,368	234,137	27,991
Depreciation and amortization	32,936	44,116	105,180	133,819
Acquisition related expenses	0	91	113	263
Asset management and acquisition fees	9,690	9,204	28,570	27,473
General and administrative expenses	2,002	2,859	7,277	8,775
(Gain) loss on derivatives	(174)	29	628	708
Equity in (earnings) losses of unconsolidated entities	0	73	0	(7,528)
(Gain) loss on sale of real estate investments	(78,577)	0	(219,182)	0
Foreign currency (gains) losses	1,941	(3,282)	(5,386)	3,798
Interest expense	14,435	16,135	44,024	48,727
Other (income) expenses	(226)	(143)	(466)	(78)
(Benefit) provision for income taxes	950	2,032	(8,548)	5,004
Provision for income taxes related to sale of real estate	12,911	0	12,911	0
Total property revenues in excess of expenses	$ 63,938	$ 83,482	$ 199,258	$ 248,952

Supplemental Cash Flow Disclo56

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2017	Sep. 30, 2016	Dec. 31, 2016
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$ 41,583	$ 45,551
Cash paid for taxes	5,973	7,248
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	14,740	20,393	$ 21,178
Distributions reinvested	69,282	70,748
Shares tendered for redemption	15,797	4,620
Accrued capital additions	$ 5,684	$ 3,639

Commitments and Contingencies (

Commitments and Contingencies (Details) - Fifty South Sixth - USD ($) $ in Millions	Sep. 30, 2017	May 30, 2016	Nov. 30, 2013
Dorsey and Whitney LLP
Other Commitments [Line Items]
Tenant improvement, maximum exposure			$ 20.8
Tenant improvement, unfunded amount	$ 8.6
Stinson Leonard Street LLP
Other Commitments [Line Items]
Tenant improvement, maximum exposure		$ 12.2
Tenant improvement, unfunded amount	$ 4.4