HGR Liquidating Trust 10-Q 13 Aug 18 2018 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares shares in Millions	6 Months Ended
	Jun. 30, 2018	Aug. 06, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Hines Global REIT, Inc.
Entity Central Index Key	1,453,818
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Amendment Flag	false
Document Fiscal Year Focus	2,018
Document Fiscal Period Focus	Q2
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity, Common Stock, Shares, Outstanding		272.1

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Investment property, net	$ 2,602,557	$ 2,689,276
Cash and cash equivalents	101,236	401,326
Restricted cash	15,830	16,884
Derivative instruments	0	1
Tenant and other receivables, net	70,331	73,341
Intangible lease assets, net	321,418	406,257
Deferred leasing costs, net	120,623	107,789
Deferred financing costs, net	786	1,225
Other assets	32,166	30,098
Total assets	3,264,947	3,726,197
Liabilities:
Accounts payable and accrued expenses	72,294	105,151
Due to affiliates	6,929	10,252
Intangible lease liabilities, net	60,238	69,566
Other liabilities	22,014	27,586
Distributions payable	14,759	303,131
Notes payable, net	1,802,828	1,834,953
Total liabilities	1,979,062	2,350,639
Commitments and contingencies
Stockholders’ equity:
Preferred shares, $.001 par value; 500,000 preferred shares authorized, none issued or outstanding as of June 30, 2018 and December 31, 2017	0	0
Common stock, $.001 par value; 1,500,000 shares authorized, 272,459 and 274,255 issued and outstanding as of June 30, 2018 and December 31, 2017, respectively	272	274
Additional paid-in capital	2,456,713	2,471,004
Accumulated distributions in excess of earnings	(1,019,484)	(968,158)
Accumulated other comprehensive income (loss)	(153,001)	(128,869)
Total stockholders’ equity	1,284,500	1,374,251
Noncontrolling interests	1,385	1,307
Total equity	1,285,885	1,375,558
Total liabilities and equity	$ 3,264,947	$ 3,726,197

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Unaudited) (Parenthetical) - $ / shares	Jun. 30, 2018	Dec. 31, 2017
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	272,459,000	274,255,000
Common stock, shares outstanding	272,459,000	274,255,000

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Rental revenue	$ 80,718	$ 93,359	$ 160,610	$ 193,691
Revenues	85,142	99,812	169,641	206,178
Expenses:
Property operating expenses	18,635	21,252	40,168	41,702
Real property taxes	10,950	12,216	21,304	24,857
Property management fees	1,805	2,106	3,572	4,298
Depreciation and amortization	29,426	34,634	63,423	72,244
Acquisition related expenses	0	52	0	113
Asset management and acquisition fees	8,782	9,514	17,641	18,880
General and administrative expenses	3,073	2,107	5,975	5,274
Impairment losses	5,105	0	5,105	0
Total expenses	77,776	81,881	157,188	167,368
Income (loss) before other income (expenses) and benefit (provision) for income taxes	7,366	17,931	12,453	38,810
Other income (expenses):
Gain (loss) on derivative instruments	467	(789)	818	(802)
Gain on sale of real estate investments	58,655	55,416	58,674	140,605
Foreign currency gains (losses)	(7,141)	708	(8,361)	7,328
Interest expense	(15,218)	(14,905)	(30,217)	(29,588)
Other income (expenses)	146	138	409	240
Income (loss) before benefit (provision) for income taxes	44,275	58,499	33,776	156,593
Benefit (provision) for income taxes	1,161	8,651	1,478	9,499
Net income (loss)	45,436	67,150	35,254	166,092
Net (income) loss attributable to noncontrolling interests	774	(18,122)	776	(53,488)
Net income (loss) attributable to common stockholders	$ 46,210	$ 49,028	$ 36,030	$ 112,604
Basic and diluted income (loss) per common share (in dollars per share)	$ 0.17	$ 0.18	$ 0.13	$ 0.41
Distributions declared per common share (in dollars per share)	$ 0.16	$ 0.16	$ 0.33	$ 0.32
Weighted average number of common shares outstanding (in shares)	272,621	276,999	272,985	277,317
Net comprehensive income (loss):
Net income (loss)	$ 45,436	$ 67,150	$ 35,254	$ 166,092
Other comprehensive income (loss):
Foreign currency translation adjustment	(33,789)	20,901	(24,134)	48,688
Net comprehensive income (loss)	11,647	88,051	11,120	214,780
Net comprehensive (income) loss attributable to noncontrolling interests	819	(18,194)	778	(56,863)
Net comprehensive income (loss) attributable to common stockholders	12,466	69,857	11,898	157,917
Other revenue
Revenues:
Revenues	$ 4,424	$ 6,453	$ 9,031	$ 12,487

Condensed Consolidated Stateme5

Condensed Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	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, 2016		277,331
Beginning balance at Dec. 31, 2016		$ 277	$ 2,507,186	$ (821,500)	$ (199,929)	$ 1,486,034	$ 22,201
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		4,575
Issuance of common shares		$ 5	46,210			46,215
Contribution from noncontrolling interest							33
Distributions declared				(89,385)		(89,385)	(23,857)
Redemption of CPEC							(52,552)
Redemption of common shares, shares		(5,110)
Redemption of common shares		$ (5)	(56,649)			(56,654)
Issuer costs			(28)			(28)
Net income (loss)	$ 166,092			112,604		112,604	53,488
Foreign currency translation adjustment	$ 48,688				40,329	40,329	52
Foreign currency translation adjustment reclassified into earnings					4,984	4,984	3,323
Ending balance, shares at Jun. 30, 2017		276,796
Ending balance at Jun. 30, 2017		$ 277	2,496,719	(798,281)	(154,616)	1,544,099	2,688
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Cumulative effect of accounting changes				1,365		1,365	898
Beginning balance, shares at Dec. 31, 2017	274,255	274,255
Beginning balance at Dec. 31, 2017	$ 1,375,558	$ 274	2,471,004	(968,158)	(128,869)	1,374,251	1,307
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common shares, shares		4,943
Issuance of common shares		$ 5	44,587			44,592
Contribution from noncontrolling interest							70
Distributions declared				(88,721)		(88,721)	(112)
Redemption of common shares, shares		(6,739)
Redemption of common shares		$ (7)	(58,839)			(58,846)
Issuer costs			(39)			(39)
Net income (loss)	35,254			36,030		36,030	(776)
Foreign currency translation adjustment	$ (24,134)				(25,995)	(25,995)	(2)
Foreign currency translation adjustment reclassified into earnings					1,863	1,863
Ending balance, shares at Jun. 30, 2018	272,459	272,459
Ending balance at Jun. 30, 2018	$ 1,285,885	$ 272	$ 2,456,713	$ (1,019,484)	$ (153,001)	$ 1,284,500	$ 1,385

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income (loss)	$ 45,436	$ 67,150	$ 35,254	$ 166,092
Adjustments to reconcile net income (loss) to net cash from operating activities:
Depreciation and amortization			69,786	82,416
Allowance for deferred tax assets			0	(11,172)
Foreign currency (gains) losses	7,141	(708)	8,361	(7,328)
(Gain) on the sale of real estate investments			(58,674)	(140,605)
Impairment losses	5,105	0	5,105	0
(Gain) loss on derivative instruments			(818)	802
Changes in assets and liabilities:
Change in other assets			(4,222)	2,936
Change in tenant and other receivables			1,807	11,677
Change in deferred leasing costs			(28,816)	(21,120)
Change in accounts payable and accrued expenses			(27,556)	(4,744)
Change in other liabilities			(567)	(2,909)
Change in due to affiliates			(2,915)	(10,295)
Net cash (used in) from operating activities			(3,255)	65,750
CASH FLOWS FROM INVESTING ACTIVITIES:
Proceeds from the sale of real estate investments			82,097	434,736
Capital expenditures at operating properties and developments			(32,322)	(22,394)
Investments in real estate loans receivable			0	(1,192)
Proceeds from collection of real estate loans receivable			0	112
Net cash from investing activities			49,775	411,262
CASH FLOWS FROM FINANCING ACTIVITIES:
Contribution from noncontrolling interest			70	0
Redemption of common shares			(60,750)	(50,717)
Payments of issuer costs			(62)	(32)
Distributions paid to stockholders and noncontrolling interests			(332,614)	(73,496)
Redemption of CPEC			0	(52,552)
Proceeds from notes payable			141,000	60,718
Payments on notes payable			(91,181)	(354,335)
Change in security deposit liability			557	(33)
Deferred financing costs paid			(263)	(176)
Payments related to interest rate contracts			(33)	0
Net cash used in financing activities			(343,276)	(470,623)
Effect of exchange rate changes on cash, cash equivalents, and restricted cash			(4,388)	6,378
Net change in cash, cash equivalents, and restricted cash			(301,144)	12,767
Cash, cash equivalents, and restricted cash, beginning of period			418,210	156,724	$ 156,724
Cash, cash equivalents, and restricted cash, end of period	$ 117,066	$ 169,491	$ 117,066	$ 169,491	$ 418,210

Organization

Organization	6 Months Ended
	Jun. 30, 2018
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, 2017 included in Hines Global REIT, Inc.’s Annual Report on Form 10-K for the year ended December 31, 2017 . In the opinion of management, all adjustments and eliminations, consisting only of normal recurring adjustments, necessary to present fairly and in conformity with GAAP the financial position of Hines Global REIT, Inc. as of June 30, 2018 , the results of operations for the three and six months ended June 30, 2018 and 2017 and cash flows for the six months ended June 30, 2018 and 2017 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 . In addition, the Company offered 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. On July 17, 2018 , in connection with the stockholder approval of the plan of liquidation and dissolution (the “Plan of Liquidation”), as discussed below, the Company’s board of directors approved to suspend indefinitely the Company’s distribution reinvestment plan effective as of August 31, 2018 . As a result of the suspension of the Company’s distribution reinvestment plan, any distributions paid after August 31, 2018 will be paid to the Company’s stockholders in cash. By the end of 2015, the Company completed its investment of the proceeds raised through its public offerings. Since its inception, the Company has owned interests in 45 properties, 12 of which were sold as of June 30, 2018 . As a result, the Company owned interests in 33 properties, which consisted of the following: • Domestic office investments ( 9 investments) • Domestic other investments ( 5 investments) • International office investments ( 8 investments) • International other investments ( 11 investments) The Company has concentrated its efforts on actively managing its assets and exploring a variety of strategic opportunities focused on enhancing the composition of its portfolio and its total return potential for its stockholders. On April 23, 2018 , in connection with its review of potential strategic alternatives available to the Company, the Company’s board of directors determined that it is in the best interest of the Company and its stockholders to sell all or substantially all of the Company’s properties and assets and for the Company to liquidate and dissolve pursuant to the Plan of Liquidation. The principal purpose of the Plan of Liquidation is to provide liquidity to the Company’s stockholders by selling the Company’s assets, paying its debts and distributing the net proceeds from liquidation to the Company’s stockholders. As required by Maryland law and the Company’s charter, the Plan of Liquidation was approved by the affirmative vote of the holders of at least a majority of the shares of the Company’s common stock outstanding and entitled to vote thereon at the Company’s annual meeting of stockholders held on July 17, 2018 . In accordance with Maryland law, the Plan of Liquidation provides the Company’s board of directors with the authority to modify or amend the Plan of Liquidation without further action by the Company’s stockholders to the extent permitted by then-current law and to terminate the Plan of Liquidation for any reason, provided that the board of directors may not terminate the Plan of Liquidation after Articles of Dissolution have been filed with and accepted for record by the State Department of Assessments and Taxation of Maryland. If the sale of all or substantially all of the Company’s assets is completed as expected, the Company expects to make one or more liquidating distributions to its stockholders during the period of the liquidation process and to make the final liquidating distribution to its stockholders on or before a date that is within 24 months after stockholder approval of the Plan of Liquidation. There can be no assurances regarding the amounts of any liquidating distributions or the timing thereof. Consolidated VIEs The WaterWall Place JV was determined to be a variable interest entity (“VIE”) in which the Company is the primary beneficiary and the Company has consolidated this joint venture accordingly. A summary of the assets and liabilities of this consolidated VIE, as well as the maximum loss exposure of the Company from this consolidated VIE, is as follows (in thousands): June 30, 2018 December 31, 2017 Maximum risk of loss (1) $ 9,070 $ 9,535 Assets held by VIEs $ 57,106 $ 59,112 Assets held as collateral for debt $ 57,106 $ 59,112 Liabilities held by VIEs $ 46,880 $ 48,222 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIE. 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 the WaterWall Place JV on the Company’s consolidated financial statements primarily relate to operating distributions received from the WaterWall Place JV. The Company and its partners are subject to the provisions of the joint venture agreement for the WaterWall Place JV, which includes provisions for when additional contributions may be required. This activity is eliminated in consolidation of the VIE, but increases, or decreases in the case of distributions received, the Company’s maximum risk of loss.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2018
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, 2017 for a complete listing of all of its significant accounting policies. Tenant and Other Receivables Tenant and other receivables are shown at cost in the condensed consolidated balance sheets, net of allowance for doubtful accounts of $4.5 million and $3.8 million at June 30, 2018 and December 31, 2017 , respectively. Other Assets Other assets included the following (in thousands): June 30, 2018 December 31, 2017 Prepaid expenses $ 3,604 $ 3,021 Deferred tax assets 28,220 26,670 Other 342 407 Other assets $ 32,166 $ 30,098 Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of June 30, 2018 and December 31, 2017 , respectively, the Company recorded liabilities of $15.1 million and $16.7 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 $53.5 million and $53.9 million as of June 30, 2018 and December 31, 2017 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term. Other revenues consist primarily of parking revenue and tenant reimbursements related to utilities, insurance, and other operating expenses. Parking revenue represents amounts generated from contractual and transient parking and is recognized in accordance with contractual terms or as services are rendered. Other revenues relating to tenant reimbursements are recognized in the period in which the expense is incurred. Recently Adopted 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. Expanded quantitative and qualitative disclosures regarding revenue recognition are 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 under “New Accounting Pronouncements”). The Company has adopted ASC 606 using the modified retrospective approach effective January 1, 2018. The Company has identified its revenue streams and finalized its evaluation of the impact on its consolidated financial statements and internal accounting processes and determined that accounting for contracts for the sale of real estate will be the primary customer contracts under the scope of ASC 606. The agreement for the sale of The Brindleyplace Project in February 2017 contained certain rent adjustments that the Company has determined do not constitute a separate performance obligation from the performance obligation of title transfer of The Brindleyplace Project. As such, the Company performed an analysis of the estimated consideration related to the rent adjustments and recognized the cumulative effect by increasing beginning retained earnings by approximately $2.3 million upon adoption in January 2018. In addition, the Company has evaluated controls around the implementation of this ASU and has concluded there was no significant impact on our control structure. 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 most of its real estate transactions completed after the Company’s adoption of this guidance will be accounted for using the asset acquisition guidance and, accordingly, acquisition fees and expenses related to those acquisitions will be capitalized. The Company adopted ASU 2017-01 on January 1, 2018. New Accounting Pronouncements 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 accounting under ASU 2016-02 by companies that own the assets leased by the lessee (the lessor) will remain largely unchanged from current GAAP. 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. In July 2018, the FASB issued ASU 2018-11, which allows lessors to account for lease and non-lease components by class of underlying assets, as a single lease component if certain criteria are met. Also, the new standard indicates that companies are permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption in lieu of the modified retrospective approach and provides other optional practical expedients. 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. Within our lessor leases, we are entitled to receive tenant reimbursements for operating expenses such as real estate taxes, insurance and common area maintenance, of which it expects to account for these lease and non-lease components as a single lease component since the timing and pattern of transfer is the same in accordance with ASU 2018-11. The Company has currently identified certain areas the Company believes may be impacted by the adoption of ASU 2016-02, which include: • 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.

Investment Property

Investment Property	6 Months Ended
	Jun. 30, 2018
Real Estate [Abstract]
INVESTMENT PROPERTY	INVESTMENT PROPERTY Investment property consisted of the following amounts as of June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 December 31, 2017 Buildings and improvements $ 2,194,409 $ 2,255,267 Less: accumulated depreciation (254,533 ) (237,767 ) Buildings and improvements, net 1,939,876 2,017,500 Land 662,681 671,776 Investment property, net $ 2,602,557 $ 2,689,276 Recent Dispositions of Real Estate Investments In April 2018, the Company completed the sale of One Westferry Circus for a contract sales price of £108.6 million (approximately $153.5 million based on an exchange rate of $1.41 per GBP). The Company recognized a gain on sale of this asset of $60.7 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). The Company sold its interests in six properties during the year ended December 31, 2017. The aggregate sale price of these properties was approximately $1.0 billion , and the Company recorded aggregate gains of $364.3 million on the sales of these properties. As of June 30, 2018 , 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 $ 575,793 $ 64,132 $ (107,524 ) Less: accumulated amortization (277,541 ) (40,966 ) 47,286 Net $ 298,252 $ 23,166 $ (60,238 ) As of December 31, 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 $ 662,854 $ 69,510 $ (108,043 ) Less: accumulated amortization (283,774 ) (42,333 ) 38,477 Net $ 379,080 $ 27,177 $ (69,566 ) Amortization expense of in-place leases was $14.2 million and $17.8 million for the three months ended June 30, 2018 and 2017 , respectively. Net amortization of out-of-market leases resulted in increases to rental revenue of $3.6 million and $0.9 million for the three months ended June 30, 2018 and 2017 , respectively. Amortization expense of in-place leases was $32.5 million and $38.2 million for the six months ended June 30, 2018 and 2017 , respectively. Net amortization of out-of-market leases resulted in increases to rental revenue of $5.8 million and $0.5 million for the six months ended June 30, 2018 and 2017 , respectively. Anticipated amortization of in-place leases and out-of-market leases, net, for the period from July 1, 2018 through December 31, 2018 and for each of the years ending December 31, 2019 through December 31, 2022 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net July 1, 2018 through December 31, 2018 $ 19,660 $ (326 ) 2019 34,701 (1,834 ) 2020 30,639 (2,165 ) 2021 23,600 (1,568 ) 2022 18,665 (2,036 ) Leases The Company has entered into non-cancelable lease agreements with tenants for space. As of June 30, 2018 , the approximate fixed future minimum rentals for the period from July 1, 2018 through December 31, 2018 , for each of the years ending December 31, 2019 through December 31, 2022 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals July 1, 2018 through December 31, 2018 $ 126,764 2019 249,992 2020 233,232 2021 196,563 2022 167,670 Thereafter 673,288 Total $ 1,647,509 During the six months ended June 30, 2018 and 2017 , the Company did not earn more than 10% of its total rental revenue from any individual tenant.

Debt Financing

Debt Financing	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
DEBT FINANCING	DEBT FINANCING As of June 30, 2018 and December 31, 2017 , the Company had approximately $1.8 billion and $1.8 billion of principal outstanding, respectively, with a weighted average years to maturity of 1.4 years and 1.7 years , respectively, and a weighted average interest rate of 3.1% and 2.8% , respectively. The following table describes the Company’s debt outstanding at June 30, 2018 and December 31, 2017 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of June 30, 2018 Principal Outstanding at June 30, 2018 Principal Outstanding at December 31, 2017 Secured Mortgage Debt 100 Brookes 7/13/2012 1/31/2018 (1) Variable N/A $ — $ 28,098 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 68,844 71,183 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 2.72 % 59,989 63,247 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 3.23 % 39,390 41,528 New City 3/28/2013 3/18/2021 Variable, subject to interest rate cap 2.30 % 77,422 80,831 One Westferry Circus 5/9/2013 5/5/2020 (2) Fixed N/A — 64,757 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 3.39 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 81,767 83,853 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.38 % 26,056 26,898 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 163,387 166,951 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 40,649 41,904 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.77 % 61,260 65,562 The Summit 3/4/2015 4/1/2022 Variable 3.54 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 78,435 81,068 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 3.60 % (3) 184,000 99,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 3.55 % 495,000 495,000 WaterWall Place Loan 6/29/2012 11/8/2018 Variable 3.60 % 44,897 44,897 Total Principal Outstanding $ 1,806,596 $ 1,840,277 Unamortized Deferred Financing Fees $ (3,768 ) $ (5,324 ) Notes Payable, net $ 1,802,828 $ 1,834,953 (1) In January 2018, the Company paid off the secured mortgage loan related to 100 Brookes in full. (2) The secured mortgage loan was assumed by the buyer with the sale of the property in April 2018 . (3) Represents the weighted average interest rate as of June 30, 2018 The variable-rate debt has interest rates ranging from LIBOR, EURIBOR or the BBSY screen rate plus 0.65% to 2.50% per annum. As of June 30, 2018 , $355.8 million of the Company’s variable-rate debt was capped at strike rates ranging from 1.5% to 3.25% . Additionally, as of December 31, 2017 , $401.9 million of our variable rate debt was capped at strike rates ranging from 1.5% to 3.25% . JPMorgan Chase Revolving Credit Facility For the period from January 2018 through June 2018 , the Company borrowed approximately $141.0 million and made payments of $56.0 million under its revolving credit facility with JPMorgan Chase Bank, National Association (the “Revolving Credit Facility”). From July 1, 2018 through August 13, 2018 , the Company made additional borrowings of $22.0 million under the Revolving Credit Facility. The additional borrowings resulted in an outstanding principal balance of $701.0 million on the Revolving Credit Facility as of August 13, 2018 . The Revolving Credit Facility had a maximum borrowing capacity of $920.0 million as of June 30, 2018 . Financial Covenants The Company's mortgage agreements and other loan documents for the debt described in the table above contain customary events of default, with corresponding grace periods, including payment defaults, cross-defaults to other agreements and bankruptcy-related defaults, and customary covenants, including limitations on liens and indebtedness and maintenance of certain financial ratios. In addition, the Company has executed customary recourse carve-out guarantees of certain obligations under its mortgage agreements and the other loan documents. The Company is not aware of any instances of noncompliance with financial covenants on any of its loans as of June 30, 2018. Principal Payments on Debt The Company is required to make the following principal payments on its outstanding notes payable for the period from July 1, 2018 through December 31, 2018 , for each of the years ending December 31, 2019 through December 31, 2022 and for the period thereafter (in thousands): Payments due by Year July 1, 2018 through December 31, 2018 2019 2020 2021 2022 Thereafter Principal payments $ 324,398 $ 998,311 $ 166,959 $ 146,928 $ 170,000 $ — As noted in the table above, the Company is required to make $1.3 billion in principal payments on its outstanding notes payable through 2019. The Company expects to make these payments utilizing proceeds from the sale of its assets pursuant to the Plan of Liquidation, or it may elect to refinance the loans.

Distributions

Distributions	6 Months Ended
	Jun. 30, 2018
Equity [Abstract]
DISTRIBUTIONS	DISTRIBUTIONS The Company has declared distributions for the months of January 2017 through December 2017 at an amount equal to $0.65 per share, per year. For the months of January 2018 through August 2018 , the Company declared distributions at an amount equal to $0.0541667 per share, per month ( $0.65 per share on an annualized basis). Of this amount, $0.02 of the per share, per month distribution for January 2018 through June 2018 , will be designated by the Company as a return of a portion of the stockholders’ invested capital and, as such, will reduce the stockholders’ remaining investment in the Company. From July 2018 to August 2018 , the full amount of these distributions will be designated by the Company as a return of a portion of the stockholders’ invested capital and, as such, will reduce the stockholders’ remaining investment in the Company. Additionally, on December 29, 2017, the Company declared a distribution to stockholders of $1.05 (the “Special Distribution”) per share that was paid in cash to all stockholders of record as of December 30, 2017 in January 2018. This distribution has been designated by the Company as a special distribution, which represents a return of a portion of the stockholders’ invested capital from sales of investment property and, as such, will reduce their remaining investment in the Company. The Special Distribution represents a portion of the net proceeds received from the strategic sale of six assets during 2017. The Special Distribution was not subject to reinvestment pursuant to the Company’s dividend reinvestment plan. The table below outlines the Company’s total distributions declared to stockholders and noncontrolling interests for each of the quarters ended during 2018 and 2017 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declared distributions to the Company’s stockholders as of daily record dates through December 2017 , and as of monthly record dates from January 2018 to August 2018 and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2018 June 30, 2018 $ 22,457 $ 21,844 $ 44,301 $ 52 March 31, 2018 22,126 22,294 44,420 60 Total $ 44,583 $ 44,138 $ 88,721 $ 112 2017 December 31, 2017 $ 310,078 (1) $ 22,890 $ 332,968 $ 1,064 September 30, 2017 22,224 23,031 45,255 1,786 June 30, 2017 21,935 22,953 44,888 21,053 (2) March 31, 2017 21,614 22,883 44,497 2,804 Total $ 375,851 $ 91,757 $ 467,608 $ 26,707 (1) Includes $288.0 million related to the Special Distribution described above. (2) For the three months ended June 30, 2017, distributions declared to the noncontrolling interests included a 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.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended June 30, Six Months Ended June 30, Unpaid as of Type and Recipient 2018 2017 2018 2017 June 30, 2018 December 31, 2017 Asset Management Fee- the Advisor and affiliates of Hines $ 8,782 $ 9,514 $ 17,641 $ 18,880 $ 2,934 $ 2,430 Disposition Fee- the Advisor $ 1,533 $ 1,040 $ 1,533 $ 2,879 — 2,585 Other (1) $ 1,393 $ 1,324 $ 2,888 $ 2,746 876 1,978 Property Management Fee- Hines $ 1,597 $ 1,796 $ 3,128 $ 3,632 168 146 Development/Construction Management Fee- Hines $ 456 $ 327 $ 939 $ 491 446 207 Leasing Fee- Hines $ 913 $ 331 $ 1,219 $ 693 1,989 2,129 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,448 $ 2,849 $ 4,888 $ 5,649 516 777 Due to Affiliates $ 6,929 $ 10,252 (1) Includes amounts the Advisor paid on behalf of the Company such as general and administrative expenses. These amounts are generally reimbursed to the Advisor during the month following the period in which they are incurred.

Fair Value Measurements

Fair Value Measurements	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS Financial Instruments Fair Value Disclosures As of June 30, 2018 , the Company estimated that the fair value of its notes payable, which had a book value of $1.8 billion , was $1.8 billion . As of December 31, 2017 , the Company estimated that the fair value of its notes payable, which had a book value of $1.8 billion , was $1.8 billion . Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. Although the Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of June 30, 2018 , 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. 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. Impairment of Investment Property Investment properties are reviewed for impairment at each reporting period if events or changes in circumstances indicate that the carrying amount may not be recoverable. The company determined that one of its properties was impaired during the six months ended June 30, 2018 based on the asset having a carrying value that exceeded written offers received from third parties to purchase the property. For the year ended December 31, 2017 , the Company determined that one of its properties was impaired as a result of deteriorating market conditions. The changes in assumptions resulted in the net book value of the assets exceeding the projected undiscounted cash flows for the property. As a result, the assets were written down to fair value. The following table summarizes activity for the Company’s assets measured at fair value, on a non-recurring basis as of June 30, 2018 and December 31, 2017 (in thousands). Basis of Fair Value Measurements As of Description Fair Value of Assets Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Impairment Loss June 30, 2018 Investment property $ 18,750 $ — $ 18,750 $ — $ 5,105 December 31, 2017 Investment property $ 25,700 $ — $ — $ 25,700 $ 7,124 The Company’s estimated fair value of the investment property was based on a comparison of recent market activity and discounted cash flow models, which include estimates of property-specific inflows and outflows over a specific holding period. Significant unobservable quantitative inputs used in determining the fair value of the investment property for the period ended December 31, 2017 include: a discount rate of 9.0% ; a capitalization rate of 7.5% ; stabilized occupancy rate of 92.5% ; and a current market rental rate of $28.00 per square foot. These inputs are based on the location, type and nature of each property, current and anticipated market conditions, and management’s knowledge and expertise in real estate.

Reportable Segments

Reportable Segments	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
REPORTABLE SEGMENTS	REPORTABLE SEGMENTS The Company’s investments in real estate are geographically diversified and management evaluates the operating performance of each at an individual investment level and considers each investment to be an operating segment. The Company has aggregated all of its operating segments into four reportable segments based on the location of the segment and the underlying asset class. Management has aggregated the Company's investments that are not office properties in “other” based on the geographic location of the investment, due to the Company's ownership of interests in various different types of investments that do not stand alone as their own reportable segment. The Company’s reporting segments consist of the following, based on the Company’s investments as of June 30, 2018 : • Domestic office investments ( 9 investments) • Domestic other investments ( 5 investments) • International office investments ( 8 investments) • International other investments ( 11 investments) The tables below provide additional information related to each of the Company’s segments, geographic location and a reconciliation to the Company’s net loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments (all amounts other than percentages are in thousands). Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total Revenue Domestic office investments $ 33,033 $ 43,596 $ 65,696 $ 87,691 Domestic other investments 25,172 24,177 45,275 48,973 International office investments 17,654 21,994 39,163 46,337 International other investments 9,283 10,045 19,507 23,177 Total Revenue $ 85,142 $ 99,812 $ 169,641 $ 206,178 For the three and six months ended June 30, 2018 and 2017 the Company’s total revenue was attributable to the following countries: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total Revenue United States 69 % 68 % 66 % 67 % United Kingdom 7 % 8 % 9 % 10 % Australia 8 % 8 % 8 % 8 % Germany 6 % 6 % 6 % 6 % Poland 6 % 5 % 7 % 5 % Russia 3 % 4 % 3 % 3 % France 1 % 1 % 1 % 1 % For the three and six months ended June 30, 2018 and 2017 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Property revenues in excess of expenses (1) Domestic office investments $ 20,758 $ 27,565 $ 41,660 $ 55,504 Domestic other investments 16,530 15,606 27,970 31,268 International office investments 10,118 13,288 21,350 31,254 International other investments 6,346 7,779 13,617 17,295 Property revenues in excess of expenses $ 53,752 $ 64,238 $ 104,597 $ 135,321 (1) Revenues less property operating expenses, real property taxes and property management fees. As of June 30, 2018 and December 31, 2017 , the Company’s total assets by segment was as follows (in thousands): June 30, 2018 December 31, 2017 Total Assets Domestic office investments $ 1,138,086 $ 1,146,312 Domestic other investments 769,559 794,558 International office investments 918,956 1,053,971 International other investments 403,958 429,827 Corporate-level accounts 34,388 301,529 Total Assets $ 3,264,947 $ 3,726,197 As of June 30, 2018 and December 31, 2017 , the Company’s total assets were attributable to the following countries: June 30, 2018 December 31, 2017 Total Assets United States 60 % 59 % United Kingdom 10 % 11 % Australia 9 % 9 % Germany 7 % 7 % Poland 8 % 8 % France 4 % 4 % Russia 2 % 2 % For the three and six months ended June 30, 2018 and 2017 , the reconciliation of the Company’s total property revenues in excess of expenses to the Company’s net income (loss) is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Reconciliation to property revenues in excess of expenses Net income (loss) $ 45,436 $ 67,150 $ 35,254 $ 166,092 Depreciation and amortization 29,426 34,634 63,423 72,244 Acquisition related expenses — 52 — 113 Asset management and acquisition fees 8,782 9,514 17,641 18,880 General and administrative expenses 3,073 2,107 5,975 5,274 Impairment losses 5,105 — 5,105 — (Gain) loss on derivatives (467 ) 789 (818 ) 802 Gain on sale of real estate investments (58,655 ) (55,416 ) (58,674 ) (140,605 ) Foreign currency (gains) losses 7,141 (708 ) 8,361 (7,328 ) Interest expense 15,218 14,905 30,217 29,588 Other (income) expenses (146 ) (138 ) (409 ) (240 ) (Benefit) provision for income taxes (1,161 ) (8,651 ) (1,478 ) (9,499 ) Total property revenues in excess of expenses $ 53,752 $ 64,238 $ 104,597 $ 135,321

Supplemental Cash Flow Disclosu

Supplemental Cash Flow Disclosures	6 Months Ended
	Jun. 30, 2018
Supplemental Cash Flow Information [Abstract]
SUPPLEMENTAL CASH FLOW DISCLOSURES	SUPPLEMENTAL CASH FLOW DISCLOSURES Supplemental cash flow disclosures for the six months ended June 30, 2018 and 2017 (in thousands): Six Months Ended June 30, 2018 2017 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 28,585 $ 28,315 Cash paid for taxes $ 18,939 $ 3,318 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,759 $ 14,788 Distributions reinvested $ 44,591 $ 46,216 Shares tendered for redemption $ 9,790 $ 10,924 Assumption of mortgage upon disposition of property $ 64,875 $ — Accrued capital additions $ 7,512 $ 3,242

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2018
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company may be subject to various legal proceedings and claims that arise in the ordinary course of business. These matters are generally covered by insurance. While the resolution of these matters cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on the Company’s condensed consolidated financial statements.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events	SUBSEQUENT EVENTS Suspension of Distribution Reinvestment Plan In connection with the approval of the Plan of Liquidation by the Company's stockholders on July 17, 2018, the Company’s board of directors, including all of the Company’s independent directors, voted to suspend indefinitely the Company’s distribution reinvestment plan, effective as of August 31, 2018. As a result of the suspension of the distribution reinvestment plan, any distributions paid after August 31, 2018 will be paid to the Company’s stockholders in cash. Amendment to the Share Redemption Program In connection with the suspension of the Company’s distribution reinvestment plan described above, on July 17, 2018, the Company’s board of directors approved and adopted the third amended and restated share redemption program (the “Amended SRP”) in order to eliminate the limitation providing that the funds available for redemptions under the share redemption program in a particular month are limited to the funds received from the distribution reinvestment plan in the prior month. Although the Amended SRP eliminates this distribution reinvestment plan proceeds limitation, the Amended SRP continues to limit the number of shares that can be redeemed during any consecutive twelve month period to no more than 5% of the number of shares of the Company’s common stock outstanding at the beginning of such twelve month period. The Amended SRP will replace the current share redemption program, effective as of August 20, 2018. Accordingly, any redemptions of the Company’s common stock made pursuant to requests submitted for the month of August 2018 will be processed in accordance with the terms of the Amended SRP. German Logistics and Poland Logistics In July 2018 , the Company entered into contracts to sell the Poland Logistics Portfolio, Fiege Mega Centre, the Harder Logistics Portfolio, and the Simon Hegele Logistics properties for an aggregate contract sales price of €450.0 million (approximately $526.0 million based on an exchange rate of $1.17 per EUR). Although the Company expects the closing of this sale to occur in August 2018 for the Germany properties and October for the Poland properties, there can be no assurances as to if or when this sale is completed. WaterWall Place In August 2018 , the Company entered into a contract to sell WaterWall Place for a contract sales price of $89.5 million . Although the Company expects the closing of this sale to occur in September 2018, there can be no assurances as to if or when this sale is completed. *****

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Revenue Recognition	Revenue Recognition Rental payments are generally paid by the tenants prior to the beginning of each month or quarter to which they relate. As of June 30, 2018 and December 31, 2017 , respectively, the Company recorded liabilities of $15.1 million and $16.7 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 $53.5 million and $53.9 million as of June 30, 2018 and December 31, 2017 , respectively. Straight-line rent receivable consists of the difference between the tenants’ rents calculated on a straight-line basis from the date of acquisition or lease commencement over the remaining terms of the related leases and the tenants’ actual rents due under the lease agreements and is included in tenant and other receivables in the accompanying consolidated balance sheets. Revenues associated with operating expense recoveries are recognized in the period in which the expenses are incurred based upon the tenant lease provisions. Revenues relating to lease termination fees are recognized on a straight-line basis amortized from the time that a tenant’s right to occupy the leased space is modified through the end of the revised lease term. Other revenues consist primarily of parking revenue and tenant reimbursements related to utilities, insurance, and other operating expenses. Parking revenue represents amounts generated from contractual and transient parking and is recognized in accordance with contractual terms or as services are rendered. Other revenues relating to tenant reimbursements are recognized in the period in which the expense is incurred.
Recent Accounting Pronouncements	Recently Adopted 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. Expanded quantitative and qualitative disclosures regarding revenue recognition are 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 under “New Accounting Pronouncements”). The Company has adopted ASC 606 using the modified retrospective approach effective January 1, 2018. The Company has identified its revenue streams and finalized its evaluation of the impact on its consolidated financial statements and internal accounting processes and determined that accounting for contracts for the sale of real estate will be the primary customer contracts under the scope of ASC 606. The agreement for the sale of The Brindleyplace Project in February 2017 contained certain rent adjustments that the Company has determined do not constitute a separate performance obligation from the performance obligation of title transfer of The Brindleyplace Project. As such, the Company performed an analysis of the estimated consideration related to the rent adjustments and recognized the cumulative effect by increasing beginning retained earnings by approximately $2.3 million upon adoption in January 2018. In addition, the Company has evaluated controls around the implementation of this ASU and has concluded there was no significant impact on our control structure. 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 most of its real estate transactions completed after the Company’s adoption of this guidance will be accounted for using the asset acquisition guidance and, accordingly, acquisition fees and expenses related to those acquisitions will be capitalized. The Company adopted ASU 2017-01 on January 1, 2018. New Accounting Pronouncements 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 accounting under ASU 2016-02 by companies that own the assets leased by the lessee (the lessor) will remain largely unchanged from current GAAP. 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. In July 2018, the FASB issued ASU 2018-11, which allows lessors to account for lease and non-lease components by class of underlying assets, as a single lease component if certain criteria are met. Also, the new standard indicates that companies are permitted to recognize a cumulative-effect adjustment to the opening balance of retained earnings in the period of adoption in lieu of the modified retrospective approach and provides other optional practical expedients. 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. Within our lessor leases, we are entitled to receive tenant reimbursements for operating expenses such as real estate taxes, insurance and common area maintenance, of which it expects to account for these lease and non-lease components as a single lease component since the timing and pattern of transfer is the same in accordance with ASU 2018-11. The Company has currently identified certain areas the Company believes may be impacted by the adoption of ASU 2016-02, which include: • 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.
Fair Value Measurement	Management has utilized market information as available or present value techniques to estimate the amounts required to be disclosed. Although the Company has determined the majority of the inputs used to value its notes payable fall within Level 2 of the fair value hierarchy, the credit quality adjustments associated with its fair value of notes payable utilize Level 3 inputs. However, as of June 30, 2018 , 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. 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.
Impairment of Investment Property	Impairment of Investment Property Investment properties are reviewed for impairment at each reporting period if events or changes in circumstances indicate that the carrying amount may not be recoverable.

Organization (Tables)

Organization (Tables)	6 Months Ended
	Jun. 30, 2018
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	A summary of the assets and liabilities of this consolidated VIE, as well as the maximum loss exposure of the Company from this consolidated VIE, is as follows (in thousands): June 30, 2018 December 31, 2017 Maximum risk of loss (1) $ 9,070 $ 9,535 Assets held by VIEs $ 57,106 $ 59,112 Assets held as collateral for debt $ 57,106 $ 59,112 Liabilities held by VIEs $ 46,880 $ 48,222 (1) Represents the Company's contributions, net of distributions, made to the consolidated VIE.

Summary of Significant Accoun20

Summary of Significant Accounting Policies (Tables)	6 Months Ended
	Jun. 30, 2018
Accounting Policies [Abstract]
Schedule Of Other Assets	Other assets included the following (in thousands): June 30, 2018 December 31, 2017 Prepaid expenses $ 3,604 $ 3,021 Deferred tax assets 28,220 26,670 Other 342 407 Other assets $ 32,166 $ 30,098

Investment Property (Tables)

Investment Property (Tables)	6 Months Ended
	Jun. 30, 2018
Real Estate [Abstract]
Schedule Of Property Subject To Or Available For Operating Lease	Investment property consisted of the following amounts as of June 30, 2018 and December 31, 2017 (in thousands): June 30, 2018 December 31, 2017 Buildings and improvements $ 2,194,409 $ 2,255,267 Less: accumulated depreciation (254,533 ) (237,767 ) Buildings and improvements, net 1,939,876 2,017,500 Land 662,681 671,776 Investment property, net $ 2,602,557 $ 2,689,276
Schedule Of Acquired Finite-Lived Intangible Assets By Major Class	As of June 30, 2018 , 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 $ 575,793 $ 64,132 $ (107,524 ) Less: accumulated amortization (277,541 ) (40,966 ) 47,286 Net $ 298,252 $ 23,166 $ (60,238 ) As of December 31, 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 $ 662,854 $ 69,510 $ (108,043 ) Less: accumulated amortization (283,774 ) (42,333 ) 38,477 Net $ 379,080 $ 27,177 $ (69,566 )
Schedule Of Finite Lived Intangible Assets Future Amortization Expense	Anticipated amortization of in-place leases and out-of-market leases, net, for the period from July 1, 2018 through December 31, 2018 and for each of the years ending December 31, 2019 through December 31, 2022 are as follows (in thousands): In-Place Leases Out-of-Market Leases, Net July 1, 2018 through December 31, 2018 $ 19,660 $ (326 ) 2019 34,701 (1,834 ) 2020 30,639 (2,165 ) 2021 23,600 (1,568 ) 2022 18,665 (2,036 )
Schedule Of Future Minimum Rental Income For Operating Leases	As of June 30, 2018 , the approximate fixed future minimum rentals for the period from July 1, 2018 through December 31, 2018 , for each of the years ending December 31, 2019 through December 31, 2022 and for the period thereafter are as follows (in thousands): Fixed Future Minimum Rentals July 1, 2018 through December 31, 2018 $ 126,764 2019 249,992 2020 233,232 2021 196,563 2022 167,670 Thereafter 673,288 Total $ 1,647,509

Debt Financing (Tables)

Debt Financing (Tables)	6 Months Ended
	Jun. 30, 2018
Debt Disclosure [Abstract]
Schedule Of Debt	The following table describes the Company’s debt outstanding at June 30, 2018 and December 31, 2017 (in thousands, except percentages): Description Origination or Assumption Date Maturity Date Interest Rate Description Interest Rate as of June 30, 2018 Principal Outstanding at June 30, 2018 Principal Outstanding at December 31, 2017 Secured Mortgage Debt 100 Brookes 7/13/2012 1/31/2018 (1) Variable N/A $ — $ 28,098 Poland Logistics Portfolio 8/2/2012 6/28/2019 Variable, subject to interest rate cap 2.00 % 68,844 71,183 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 2.72 % 59,989 63,247 465 Victoria 2/28/2013 12/3/2018 Variable, subject to interest rate cap 3.23 % 39,390 41,528 New City 3/28/2013 3/18/2021 Variable, subject to interest rate cap 2.30 % 77,422 80,831 One Westferry Circus 5/9/2013 5/5/2020 (2) Fixed N/A — 64,757 The Campus at Playa Vista 5/14/2013 12/1/2018 Variable 3.39 % 150,000 150,000 Perspective Défense 6/21/2013 7/25/2019 Variable, subject to interest rate cap 2.17 % 81,767 83,853 Fiege Mega Centre 10/18/2013 10/31/2018 Variable, subject to interest rate cap 1.38 % 26,056 26,898 25 Cabot Square 3/26/2014 3/26/2020 Fixed 3.50 % 163,387 166,951 Simon Hegele Logistics 4/28/2014 6/15/2019 Fixed 1.90 % 40,649 41,904 818 Bourke 10/31/2014 10/31/2019 Variable, subject to interest rate cap 2.77 % 61,260 65,562 The Summit 3/4/2015 4/1/2022 Variable 3.54 % 170,000 170,000 Harder Logistics Portfolio 4/1/2015 2/28/2021 Variable, subject to interest rate cap 0.95 % 78,435 81,068 Other Notes Payable JPMorgan Chase Revolving Credit Facility - Revolving Loan 4/13/2012 6/29/2019 Variable 3.60 % (3) 184,000 99,000 JPMorgan Chase Revolving Credit Facility - Term Loan 5/22/2013 6/29/2019 Variable 3.55 % 495,000 495,000 WaterWall Place Loan 6/29/2012 11/8/2018 Variable 3.60 % 44,897 44,897 Total Principal Outstanding $ 1,806,596 $ 1,840,277 Unamortized Deferred Financing Fees $ (3,768 ) $ (5,324 ) Notes Payable, net $ 1,802,828 $ 1,834,953 (1) In January 2018, the Company paid off the secured mortgage loan related to 100 Brookes in full. (2) The secured mortgage loan was assumed by the buyer with the sale of the property in April 2018 . (3) Represents the weighted average interest rate as of June 30, 2018
Schedule Of Maturities Of Long Term Debt	The Company is required to make the following principal payments on its outstanding notes payable for the period from July 1, 2018 through December 31, 2018 , for each of the years ending December 31, 2019 through December 31, 2022 and for the period thereafter (in thousands): Payments due by Year July 1, 2018 through December 31, 2018 2019 2020 2021 2022 Thereafter Principal payments $ 324,398 $ 998,311 $ 166,959 $ 146,928 $ 170,000 $ — As noted in the table above, the Company is required to make $1.3 billion in principal payments on its outstanding notes payable through 2019. The Company expects to make these payments utilizing proceeds from the sale of its assets pursuant to the Plan of Liquidation, or it may elect to refinance the loans.

Distributions (Tables)

Distributions (Tables)	6 Months Ended
	Jun. 30, 2018
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 2018 and 2017 , including the breakout between the distributions declared in cash and those reinvested pursuant to the Company’s distribution reinvestment plan (in thousands). The Company declared distributions to the Company’s stockholders as of daily record dates through December 2017 , and as of monthly record dates from January 2018 to August 2018 and aggregates and pays such distributions monthly. Stockholders Noncontrolling Interests Distributions for the three months ended Cash Distributions Distributions Reinvested Total Declared Total Declared 2018 June 30, 2018 $ 22,457 $ 21,844 $ 44,301 $ 52 March 31, 2018 22,126 22,294 44,420 60 Total $ 44,583 $ 44,138 $ 88,721 $ 112 2017 December 31, 2017 $ 310,078 (1) $ 22,890 $ 332,968 $ 1,064 September 30, 2017 22,224 23,031 45,255 1,786 June 30, 2017 21,935 22,953 44,888 21,053 (2) March 31, 2017 21,614 22,883 44,497 2,804 Total $ 375,851 $ 91,757 $ 467,608 $ 26,707 (1) Includes $288.0 million related to the Special Distribution described above. (2) For the three months ended June 30, 2017, distributions declared to the noncontrolling interests included a 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.

Related Party Transactions (Tab

Related Party Transactions (Tables)	6 Months Ended
	Jun. 30, 2018
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions	The table below outlines fees and expense reimbursements incurred that are payable to Hines and its affiliates for the periods indicated below (in thousands): Incurred Three Months Ended June 30, Six Months Ended June 30, Unpaid as of Type and Recipient 2018 2017 2018 2017 June 30, 2018 December 31, 2017 Asset Management Fee- the Advisor and affiliates of Hines $ 8,782 $ 9,514 $ 17,641 $ 18,880 $ 2,934 $ 2,430 Disposition Fee- the Advisor $ 1,533 $ 1,040 $ 1,533 $ 2,879 — 2,585 Other (1) $ 1,393 $ 1,324 $ 2,888 $ 2,746 876 1,978 Property Management Fee- Hines $ 1,597 $ 1,796 $ 3,128 $ 3,632 168 146 Development/Construction Management Fee- Hines $ 456 $ 327 $ 939 $ 491 446 207 Leasing Fee- Hines $ 913 $ 331 $ 1,219 $ 693 1,989 2,129 Expense Reimbursement- Hines (with respect to management and operations of the Company’s properties) $ 2,448 $ 2,849 $ 4,888 $ 5,649 516 777 Due to Affiliates $ 6,929 $ 10,252 (1) Includes amounts the Advisor paid on behalf of the Company such as general and administrative expenses. These amounts are generally reimbursed to the Advisor during the month following the period in which they are incurred.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
	Jun. 30, 2018
Fair Value Disclosures [Abstract]
Fair Value Measurements, Nonrecurring	The following table summarizes activity for the Company’s assets measured at fair value, on a non-recurring basis as of June 30, 2018 and December 31, 2017 (in thousands). Basis of Fair Value Measurements As of Description Fair Value of Assets Quoted Prices (Level 1) Significant (Level 2) Significant (Level 3) Impairment Loss June 30, 2018 Investment property $ 18,750 $ — $ 18,750 $ — $ 5,105 December 31, 2017 Investment property $ 25,700 $ — $ — $ 25,700 $ 7,124

Reportable Segments (Tables)

Reportable Segments (Tables)	6 Months Ended
	Jun. 30, 2018
Segment Reporting [Abstract]
Schedule Of Segment Reporting Information By Segment	For the three and six months ended June 30, 2018 and 2017 , the Company’s property revenues in excess of expenses by segment was as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Property revenues in excess of expenses (1) Domestic office investments $ 20,758 $ 27,565 $ 41,660 $ 55,504 Domestic other investments 16,530 15,606 27,970 31,268 International office investments 10,118 13,288 21,350 31,254 International other investments 6,346 7,779 13,617 17,295 Property revenues in excess of expenses $ 53,752 $ 64,238 $ 104,597 $ 135,321 (1) Revenues less property operating expenses, real property taxes and property management fees. As of June 30, 2018 and December 31, 2017 , the Company’s total assets by segment was as follows (in thousands): June 30, 2018 December 31, 2017 Total Assets Domestic office investments $ 1,138,086 $ 1,146,312 Domestic other investments 769,559 794,558 International office investments 918,956 1,053,971 International other investments 403,958 429,827 Corporate-level accounts 34,388 301,529 Total Assets $ 3,264,947 $ 3,726,197 The tables below provide additional information related to each of the Company’s segments, geographic location and a reconciliation to the Company’s net loss, as applicable. “Corporate-Level Accounts” includes amounts incurred by the corporate-level entities which are not allocated to any of the reportable segments (all amounts other than percentages are in thousands). Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total Revenue Domestic office investments $ 33,033 $ 43,596 $ 65,696 $ 87,691 Domestic other investments 25,172 24,177 45,275 48,973 International office investments 17,654 21,994 39,163 46,337 International other investments 9,283 10,045 19,507 23,177 Total Revenue $ 85,142 $ 99,812 $ 169,641 $ 206,178
Schedule of Revenue from External Customers and Long-Lived Assets, by Geographical Areas	For the three and six months ended June 30, 2018 and 2017 the Company’s total revenue was attributable to the following countries: Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Total Revenue United States 69 % 68 % 66 % 67 % United Kingdom 7 % 8 % 9 % 10 % Australia 8 % 8 % 8 % 8 % Germany 6 % 6 % 6 % 6 % Poland 6 % 5 % 7 % 5 % Russia 3 % 4 % 3 % 3 % France 1 % 1 % 1 % 1 % As of June 30, 2018 and December 31, 2017 , the Company’s total assets were attributable to the following countries: June 30, 2018 December 31, 2017 Total Assets United States 60 % 59 % United Kingdom 10 % 11 % Australia 9 % 9 % Germany 7 % 7 % Poland 8 % 8 % France 4 % 4 % Russia 2 % 2 %
Reconciliation Of Net Income (Loss) From Segments To Consolidated	For the three and six months ended June 30, 2018 and 2017 , the reconciliation of the Company’s total property revenues in excess of expenses to the Company’s net income (loss) is as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2018 2017 2018 2017 Reconciliation to property revenues in excess of expenses Net income (loss) $ 45,436 $ 67,150 $ 35,254 $ 166,092 Depreciation and amortization 29,426 34,634 63,423 72,244 Acquisition related expenses — 52 — 113 Asset management and acquisition fees 8,782 9,514 17,641 18,880 General and administrative expenses 3,073 2,107 5,975 5,274 Impairment losses 5,105 — 5,105 — (Gain) loss on derivatives (467 ) 789 (818 ) 802 Gain on sale of real estate investments (58,655 ) (55,416 ) (58,674 ) (140,605 ) Foreign currency (gains) losses 7,141 (708 ) 8,361 (7,328 ) Interest expense 15,218 14,905 30,217 29,588 Other (income) expenses (146 ) (138 ) (409 ) (240 ) (Benefit) provision for income taxes (1,161 ) (8,651 ) (1,478 ) (9,499 ) Total property revenues in excess of expenses $ 53,752 $ 64,238 $ 104,597 $ 135,321

Supplemental Cash Flow Disclo27

Supplemental Cash Flow Disclosures (Tables)	6 Months Ended
	Jun. 30, 2018
Supplemental Cash Flow Information [Abstract]
Schedule Of Cash Flow Supplemental Disclosures	Supplemental cash flow disclosures for the six months ended June 30, 2018 and 2017 (in thousands): Six Months Ended June 30, 2018 2017 Supplemental Disclosure of Cash Flow Information Cash paid for interest $ 28,585 $ 28,315 Cash paid for taxes $ 18,939 $ 3,318 Supplemental Schedule of Non-Cash Activities Distributions declared and unpaid $ 14,759 $ 14,788 Distributions reinvested $ 44,591 $ 46,216 Shares tendered for redemption $ 9,790 $ 10,924 Assumption of mortgage upon disposition of property $ 64,875 $ — Accrued capital additions $ 7,512 $ 3,242

Organization (Public Offering)

Organization (Public Offering) (Details)	Apr. 24, 2014	Apr. 11, 2014	Aug. 05, 2009	Jun. 30, 2018USD ($)	Apr. 11, 2014public_offering	Jun. 30, 2018USD ($)
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)	12 Months Ended	30 Months Ended
	Dec. 31, 2017property	Jun. 30, 2018real_estate_investment	Dec. 31, 2015real_estate_investment
Real Estate Investments And Segment [Line Items]
Number of real estate investments		33	45
Number real estate investments sold	6	12
Domestic office investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments		9
Domestic other investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments		5
International office investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments		8
International other investments
Real Estate Investments And Segment [Line Items]
Number of real estate investments		11

Organization (Schedule of Conso

Organization (Schedule of Consolidated VIEs) (Details) - Consolidated VIEs - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Variable Interest Entity [Line Items]
Maximum risk of loss	$ 9,070	$ 9,535
Assets held by VIEs	57,106	59,112
Assets held as collateral for debt	57,106	59,112
Liabilities held by VIEs	$ 46,880	$ 48,222

Summary of Significant Accoun31

Summary of Significant Accounting Policies (Details) - USD ($) $ in Millions	Jun. 30, 2018	Dec. 31, 2017
Summary Of Significant Accounting Policies [Line Items]
Allowance for doubtful accounts	$ 4.5	$ 3.8
Liability related to prepaid rental payments	15.1	16.7
Straight line rent receivable	53.5	$ 53.9
Difference between Revenue Guidance in Effect before and after Topic 606 | Accounting Standards Update 2014-09
Summary Of Significant Accounting Policies [Line Items]
Retained earnings	$ 2.3

Summary of Significant Accoun32

Summary of Significant Accounting Policies (Other Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Accounting Policies [Abstract]
Prepaid expenses	$ 3,604	$ 3,021
Deferred tax assets	28,220	26,670
Other	342	407
Other assets	$ 32,166	$ 30,098

Investment Property (Details)

Investment Property (Details) $ in Thousands, £ in Millions	3 Months Ended		6 Months Ended		12 Months Ended	30 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)property	Jun. 30, 2018USD ($)real_estate_investment	Apr. 30, 2018USD ($)$ / £	Apr. 30, 2018GBP (£)$ / £
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, net	$ 2,602,557		$ 2,602,557		$ 2,689,276	$ 2,602,557
Sale consideration of sold property					1,000,000
Gain on sale of real estate investments	58,655	$ 55,416	58,674	$ 140,605	$ 364,300
Number real estate investments sold					6	12
Building and improvements
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	2,194,409		2,194,409		$ 2,255,267	$ 2,194,409
Less: accumulated depreciation	(254,533)		(254,533)		(237,767)	(254,533)
Investment property, net	1,939,876		1,939,876		2,017,500	1,939,876
Land
Property Subject To Or Available For Operating Lease [Line Items]
Investment property, gross	$ 662,681		662,681		$ 671,776	$ 662,681
One Westferry Circus
Property Subject To Or Available For Operating Lease [Line Items]
Sale consideration of sold property							$ 153,500	£ 108.6
Foreign currency exchange rate, translation (in usd per euro) | $ / £							1.41	1.41
Gain on sale of real estate investments			$ 60,700

Investment Property (Intangible

Investment Property (Intangible Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Finite Lived Intangible Assets [Line Items]
Net	$ 321,418	$ 406,257
Out-of-Market Lease Liabilities
Out-of-Market Lease Liabilities, Cost	(107,524)	(108,043)
Out-of-Market Lease Liabilities, Less: accumulated amortization	47,286	38,477
Out-of-Market Lease Liabilities, Net	(60,238)	(69,566)
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Cost	575,793	662,854
Less: accumulated amortization	(277,541)	(283,774)
Net	298,252	379,080
Out-of-Market Lease Assets
Finite Lived Intangible Assets [Line Items]
Cost	64,132	69,510
Less: accumulated amortization	(40,966)	(42,333)
Net	$ 23,166	$ 27,177

Investment Property (Intangib35

Investment Property (Intangible Assets Amortization) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
In-Place Leases
Finite Lived Intangible Assets [Line Items]
Amortization of intangible assets	$ 14,200	$ 17,800	$ 32,500	$ 38,200
In-Place Leases
July 1, 2018 through December 31, 2018	19,660		19,660
2,019	34,701		34,701
2,020	30,639		30,639
2,021	23,600		23,600
2,022	18,665		18,665
Out-of-Market Leases, Net
Finite Lived Intangible Assets [Line Items]
Net amortization of out-of-market leases	(3,600)	$ (900)	(5,800)	$ (500)
Out-of-Market Leases, Net
July 1, 2018 through December 31, 2018	(326)		(326)
2,019	(1,834)		(1,834)
2,020	(2,165)		(2,165)
2,021	(1,568)		(1,568)
2,022	$ (2,036)		$ (2,036)

Investment Property (Future Min

Investment Property (Future Minimum Rent) (Details) $ in Thousands	Jun. 30, 2018USD ($)
Fixed Future Minimum Rentals
July 1, 2018 through December 31, 2018	$ 126,764
2,019	249,992
2,020	233,232
2,021	196,563
2,022	167,670
Thereafter	673,288
Total	$ 1,647,509

Debt Financing (Narratives) (De

Debt Financing (Narratives) (Details) - USD ($) $ in Thousands	1 Months Ended	6 Months Ended	12 Months Ended
	Aug. 13, 2018	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, principal outstanding		$ 1,806,596	$ 1,840,277
Debt, weighted average years to maturity		1 year 4 months 24 days	1 year 8 months 12 days
Debt, weighted average interest rate (percent)		3.10%	2.80%
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)		3.25%	3.25%
Interest rate caps
Debt Instrument [Line Items]
Debt instrument principal amount capped		$ 355,800	$ 401,900
Revolving Credit Facility (Including Revolving and Term Loans)
Debt Instrument [Line Items]
Credit facility, additional borrowings		141,000
Repayments of revolving credit facility		56,000
Credit facility, current borrowing capacity		$ 920,000
Revolving Credit Facility (Including Revolving and Term Loans) | Subsequent Event
Debt Instrument [Line Items]
Credit facility, additional borrowings	$ 22,000
Credit facility, principal outstanding	$ 701,000
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) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Debt Instrument [Line Items]
Debt, principal outstanding	$ 1,806,596	$ 1,840,277
Unamortized Deferred Financing Fees	(3,768)	(5,324)
Notes Payable, net	$ 1,802,828	1,834,953
JPMorgan Chase Revolving Credit Facility - Revolving Loan
Debt Instrument [Line Items]
Credit facility, interest rate (percent)	3.60%
Credit facility, principal outstanding	$ 184,000	99,000
JPMorgan Chase Revolving Credit Facility - Term Loan
Debt Instrument [Line Items]
Credit facility, interest rate (percent)	3.55%
Credit facility, principal outstanding	$ 495,000	495,000
100 Brookes | Secured Debt
Debt Instrument [Line Items]
Debt, principal outstanding		28,098
Poland Logistics Portfolio | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	2.00%
Debt, principal outstanding	$ 68,844	71,183
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)	2.72%
Debt, principal outstanding	$ 59,989	63,247
465 Victoria | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	3.23%
Debt, principal outstanding	$ 39,390	41,528
New City | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	2.30%
Debt, principal outstanding	$ 77,422	80,831
One Westferry Circus | Secured Debt
Debt Instrument [Line Items]
Debt, principal outstanding		64,757
The Campus at Playa Vista | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	3.39%
Debt, principal outstanding	$ 150,000	150,000
Perspective Défense | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	2.17%
Debt, principal outstanding	$ 81,767	83,853
Fiege Mega Centre | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	1.38%
Debt, principal outstanding	$ 26,056	26,898
25 Cabot Square | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	3.50%
Debt, principal outstanding	$ 163,387	166,951
Simon Hegele Logistics | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	1.90%
Debt, principal outstanding	$ 40,649	41,904
818 Bourke | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	2.77%
Debt, principal outstanding	$ 61,260	65,562
The Summit | Secured Debt
Debt Instrument [Line Items]
Effective interest rate (percent)	3.54%
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	$ 78,435	81,068
WaterWall Place Loan | Construction Loan Payable
Debt Instrument [Line Items]
Effective interest rate (percent)	3.60%
Debt, principal outstanding	$ 44,897	$ 44,897

Debt Financing (Maturity Schedu

Debt Financing (Maturity Schedule) (Details) $ in Thousands	Jun. 30, 2018USD ($)
Debt Disclosure [Abstract]
Long-Term Debt, Maturities, Repayments of Principal, Remainder of Fiscal Year and Throughout the Next Year	$ 1,300,000
Principal payments
July 1, 2018 through December 31, 2018	324,398
2,019	998,311
2,020	166,959
2,021	146,928
2,022	170,000
Thereafter	$ 0

Distributions (Details)

Distributions (Details) - USD ($) $ / shares in Units, $ in Thousands	Dec. 29, 2017	Jun. 30, 2018	Mar. 31, 2018	Dec. 31, 2017	Sep. 30, 2017	Jun. 30, 2017	Mar. 31, 2017	Jun. 30, 2018	Jun. 30, 2017	Aug. 31, 2018	Dec. 31, 2017
Other Ownership Interests [Line Items]
Distributions declared per common share (in dollars per share)		$ 0.16				$ 0.16		$ 0.33	$ 0.32		$ 0.65
Distributions declared per common share per month, return portion of stockholders' invested capital (in dollars per share)								$ 0.02
Cash Distributions		$ 22,457	$ 22,126	$ 310,078	$ 22,224	$ 21,935	$ 21,614	$ 44,583			$ 375,851
Distributions Reinvested		21,844	22,294	22,890	23,031	22,953	22,883	44,138			91,757
Total Declared		44,301	44,420	332,968	45,255	44,888	44,497	88,721			467,608
Distributions declared, noncontrolling interest		$ 52	$ 60	$ 1,064	$ 1,786	21,053	$ 2,804	$ 112			$ 26,707
Aviva Coral Gables JV Loan
Other Ownership Interests [Line Items]
Distributions declared, noncontrolling interest						$ 21,000
Special Distribution Declared December 29, 2017
Other Ownership Interests [Line Items]
Distributions declared per common share (in dollars per share)	$ 1.05
Cash Distributions	$ 288,000
Scenario, Forecast [Member]
Other Ownership Interests [Line Items]
Distributions declared per common share (in dollars per share)										$ 0.65
Distributions declared per common share per month (in dollars per share)										$ 0.0541667

Related Party Transactions (by

Related Party Transactions (by Category) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Related Party Transaction [Line Items]
Due to Affiliates	$ 6,929		$ 6,929		$ 10,252
The Advisor | Disposition Fee- the Advisor
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,533	$ 1,040	1,533	$ 2,879
Due to Affiliates	0		0		2,585
The Advisor | Other Fees
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,393	1,324	2,888	2,746
Due to Affiliates	876		876		1,978
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	8,782	9,514	17,641	18,880
Due to Affiliates	2,934		2,934		2,430
Hines | Property Management Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	1,597	1,796	3,128	3,632
Due to Affiliates	168		168		146
Hines | Development/Construction Management Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	456	327	939	491
Due to Affiliates	446		446		207
Hines | Leasing Fee- Hines
Related Party Transaction [Line Items]
Expenses from transactions with related party	913	331	1,219	693
Due to Affiliates	1,989		1,989		2,129
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	2,448	$ 2,849	4,888	$ 5,649
Due to Affiliates	$ 516		$ 516		$ 777

Fair Value Measurements (Detail

Fair Value Measurements (Details) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2017USD ($)	Dec. 31, 2017USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment property, net	$ 2,602,557		$ 2,602,557		$ 2,689,276
Impairment losses	5,105	$ 0	5,105	$ 0
Fair Value Measurements Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable carrying amount	1,800,000		1,800,000		1,800,000
Investment property, net	18,750		18,750		25,700
Impairment losses			5,105		7,124
Quoted Prices In Active Markets for Identical Items (Level 1) | Fair Value Measurements Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment property, net	0		0		0
Significant Other Observable Inputs (Level 2) | Fair Value Measurements Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Notes payable fair value	1,800,000		1,800,000		1,800,000
Investment property, net	18,750		18,750		0
Significant Unobservable Inputs (Level 3) | Fair Value Measurements Nonrecurring
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment property, net	$ 0		$ 0		$ 25,700
Measurement Input, Discount Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement input					0.090
Measurement Input, Cap Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement input					0.075
Measurement Input, Occupancy Rate
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement input					0.925
Measurement Input, Price Per Square Foot
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Fair value measurement input					28

Reportable Segments (Narratives

Reportable Segments (Narratives) (Details)	6 Months Ended
	Jun. 30, 2018real_estate_investmentsegment	Dec. 31, 2015real_estate_investment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	4
Number of real estate investments	33	45
Domestic office investments
Segment Reporting Information [Line Items]
Number of real estate investments	9
Domestic other investments
Segment Reporting Information [Line Items]
Number of real estate investments	5
International office investments
Segment Reporting Information [Line Items]
Number of real estate investments	8
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		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Revenues	$ 85,142	$ 99,812	$ 169,641	$ 206,178
Domestic office investments
Segment Reporting Information [Line Items]
Revenues	33,033	43,596	65,696	87,691
Domestic other investments
Segment Reporting Information [Line Items]
Revenues	25,172	24,177	45,275	48,973
International office investments
Segment Reporting Information [Line Items]
Revenues	17,654	21,994	39,163	46,337
International other investments
Segment Reporting Information [Line Items]
Revenues	$ 9,283	$ 10,045	$ 19,507	$ 23,177

Reportable Segments (Geographic

Reportable Segments (Geographical) (Details)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Total Revenue | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)	69.00%	68.00%	66.00%	67.00%
Total Revenue | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)	7.00%	8.00%	9.00%	10.00%
Total Revenue | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)	8.00%	8.00%	8.00%	8.00%
Total Revenue | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)	6.00%	6.00%	6.00%	6.00%
Total Revenue | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)	6.00%	5.00%	7.00%	5.00%
Total Revenue | Russia
Segment Reporting Information [Line Items]
Concentration risk (percent)	3.00%	4.00%	3.00%	3.00%
Total Revenue | France
Segment Reporting Information [Line Items]
Concentration risk (percent)	1.00%	1.00%	1.00%	1.00%
Total Assets | United States
Segment Reporting Information [Line Items]
Concentration risk (percent)			60.00%		59.00%
Total Assets | United Kingdom
Segment Reporting Information [Line Items]
Concentration risk (percent)			10.00%		11.00%
Total Assets | Australia
Segment Reporting Information [Line Items]
Concentration risk (percent)			9.00%		9.00%
Total Assets | Germany
Segment Reporting Information [Line Items]
Concentration risk (percent)			7.00%		7.00%
Total Assets | Poland
Segment Reporting Information [Line Items]
Concentration risk (percent)			8.00%		8.00%
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%		4.00%

Reportable Segments (Property R

Reportable Segments (Property Revenue in Excess of Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	$ 53,752	$ 64,238	$ 104,597	$ 135,321
Domestic office investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	20,758	27,565	41,660	55,504
Domestic other investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	16,530	15,606	27,970	31,268
International office investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	10,118	13,288	21,350	31,254
International other investments
Segment Reporting Information [Line Items]
Total property revenues in excess of expenses	$ 6,346	$ 7,779	$ 13,617	$ 17,295

Reportable Segments (Assets) (D

Reportable Segments (Assets) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Segment Reporting Information [Line Items]
Total Assets	$ 3,264,947	$ 3,726,197
Domestic office investments
Segment Reporting Information [Line Items]
Total Assets	1,138,086	1,146,312
Domestic other investments
Segment Reporting Information [Line Items]
Total Assets	769,559	794,558
International office investments
Segment Reporting Information [Line Items]
Total Assets	918,956	1,053,971
International other investments
Segment Reporting Information [Line Items]
Total Assets	403,958	429,827
Corporate Segment
Segment Reporting Information [Line Items]
Total Assets	$ 34,388	$ 301,529

Reportable Segments (Reconcilia

Reportable Segments (Reconciliation to Consolidated) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Segment Reporting Information [Line Items]
Net income (loss)	$ 45,436	$ 67,150	$ 35,254	$ 166,092
Depreciation and amortization	29,426	34,634	63,423	72,244
Acquisition related expenses	0	52	0	113
Asset management and acquisition fees	8,782	9,514	17,641	18,880
General and administrative expenses	3,073	2,107	5,975	5,274
Impairment losses	5,105	0	5,105	0
(Gain) loss on derivatives	(467)	789	(818)	802
Gain on sale of real estate investments	(58,655)	(55,416)	(58,674)	(140,605)	$ (364,300)
Foreign currency (gains) losses	7,141	(708)	8,361	(7,328)
Interest expense	15,218	14,905	30,217	29,588
Other (income) expenses	(146)	(138)	(409)	(240)
(Benefit) provision for income taxes	(1,161)	(8,651)	(1,478)	(9,499)
Total property revenues in excess of expenses	53,752	64,238	104,597	135,321
Segment Reconciling Items
Segment Reporting Information [Line Items]
Net income (loss)	45,436	67,150	35,254	166,092
Depreciation and amortization	29,426	34,634	63,423	72,244
Acquisition related expenses	0	52	0	113
Asset management and acquisition fees	8,782	9,514	17,641	18,880
General and administrative expenses	3,073	2,107	5,975	5,274
Impairment losses	5,105	0	5,105	0
(Gain) loss on derivatives	(467)	789	(818)	802
Gain on sale of real estate investments	(58,655)	(55,416)	(58,674)	(140,605)
Foreign currency (gains) losses	7,141	(708)	8,361	(7,328)
Interest expense	15,218	14,905	30,217	29,588
Other (income) expenses	(146)	(138)	(409)	(240)
(Benefit) provision for income taxes	(1,161)	(8,651)	(1,478)	(9,499)
Total property revenues in excess of expenses	$ 53,752	$ 64,238	$ 104,597	$ 135,321

Supplemental Cash Flow Disclo49

Supplemental Cash Flow Disclosures (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Supplemental Disclosure of Cash Flow Information
Cash paid for interest	$ 28,585	$ 28,315
Cash paid for taxes	18,939	3,318
Supplemental Schedule of Non-Cash Activities
Distributions declared and unpaid	14,759	14,788	$ 303,131
Distributions reinvested	44,591	46,216
Shares tendered for redemption	9,790	10,924
Assumption of mortgage upon disposition of property	64,875
Accrued capital additions	$ 7,512	$ 3,242

Subsequent Events (Details)

Subsequent Events (Details) € in Millions, $ in Millions	Aug. 13, 2018USD ($)	Jul. 31, 2018USD ($)$ / €	Jul. 31, 2018EUR (€)$ / €	Dec. 31, 2017USD ($)
Subsequent Event [Line Items]
Sale consideration of sold property				$ 1,000
Subsequent Event | Poland Logistics Portfolio, Fiege Mega Centre, Harder Logistics Portfolio, And Simon Hegele Logistics
Subsequent Event [Line Items]
Sale consideration of sold property		$ 526	€ 450
Foreign currency exchange rate, translation (in usd per euro) | $ / €		1.17	1.17
Subsequent Event | One Waterwall Place
Subsequent Event [Line Items]
Sale consideration of sold property	$ 89.5