KBS Real Estate Investment Trust III (KBSR) 10-Q 14 May 15 2015 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2015	11-May-15
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	FALSE
Document Period End Date	31-Mar-15
Document Fiscal Year Focus	2015
Document Fiscal Period Focus	Q1
Entity Registrant Name	KBS Real Estate Investment Trust III, Inc.
Entity Central Index Key	1482430
Current Fiscal Year End Date	-19
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		162,233,957

CONSOLIDATED_BALANCE_SHEETS_Un

CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Real estate:
Land	$292,228	$292,228
Buildings and improvements	1,809,876	1,794,464
Tenant origination and absorption costs	219,115	221,169
Total real estate, cost	2,321,219	2,307,861
Less accumulated depreciation and amortization	-136,235	-110,781
Total real estate, net	2,184,984	2,197,080
Real estate loan receivable, net	21,498	20,010
Cash and cash equivalents	255,204	99,135
Rents and other receivables, net	28,614	20,763
Due from affiliate	1,173	1,173
Above-market leases, net	12,681	13,744
Deferred financing costs, prepaid expenses and other assets	40,674	34,530
Total assets	2,544,828	2,386,435
Liabilities and stockholders' equity
Notes payable	1,246,938	1,322,898
Accounts payable and accrued liabilities	39,231	35,167
Due to affiliates	5,421	3,554
Distributions payable	7,937	6,613
Below-market leases, net	30,250	32,745
Other liabilities	32,951	23,033
Total liabilities	1,362,728	1,424,010
Commitments and contingencies (Note 10)
Redeemable common stock	38,283	29,329
Stockholders’ equity:
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value; 1,000,000,000 shares authorized, 149,996,485 and 123,426,546 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively	1,500	1,234
Additional paid-in capital	1,322,941	1,080,673
Accumulated other comprehensive loss	-6,848	-2,190
Cumulative distributions and net losses	-173,776	-146,621
Total stockholders' equity	1,143,817	933,096
Total liabilities and stockholders' equity	$2,544,828	$2,386,435

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) (USD $)	Mar. 31, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	149,996,485	123,426,546
Common stock, shares outstanding	149,996,485	123,426,546

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)	3 Months Ended
In Thousands, except Share data, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Revenues:
Rental income	$53,501	$30,995
Tenant reimbursements	11,534	9,483
Interest income from real estate loan receivable	382	320
Other operating income	2,833	938
Total revenues	68,250	41,736
Expenses:
Operating, maintenance and management	15,220	10,485
Real estate taxes and insurance	11,162	7,655
Asset management fees to affiliate	4,317	2,459
Real estate acquisition fees to affiliate	0	1,705
Real estate acquisition fees and expenses	115	303
General and administrative expenses	998	734
Depreciation and amortization	29,668	17,269
Interest expense	12,415	5,297
Total expenses	73,895	45,907
Other income:
Other interest income	71	3
Gain on sale of real estate, net	0	10,895
Total other income	71	10,898
Net (loss) income	($5,574)	$6,727
Net (loss) income per common share, basic and diluted	($0.04)	$0.09
Weighted-average number of common shares outstanding, basic and diluted	134,638,562	72,753,222

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Statement of Comprehensive Income [Abstract]
Net (loss) income	($5,574)	$6,727
Other comprehensive income (loss):
Unrealized losses on derivative instruments	-6,309	-2,194
Reclassification adjustment realized in net income (effective portion)	1,651	963
Total other comprehensive loss	-4,658	-1,231
Total comprehensive (loss) income	($10,232)	$5,496

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) (USD $)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
In Thousands, except Share data, unless otherwise specified
Balance, value at Mar. 23, 2011
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares		150,645,386
Issuance of common stock, value	$1,500,000
Redemptions of common stock, shares		-927,363
Redemptions of common stock, value	-8,900
Balance, value at Mar. 31, 2015	1,143,817	1,500
Balance, shares at Mar. 31, 2015	149,996,485	149,996,485
Balance, value at Dec. 31, 2013	502,817	664	574,762	-74,788	2,179
Balance, shares at Dec. 31, 2013		66,430,888
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	-12,352			-12,352
Other comprehensive loss	-4,369				-4,369
Issuance of common stock, shares		57,372,731
Issuance of common stock, value	583,858	574	583,284
Transfers to redeemable common stock	-16,915		-16,915
Redemptions of common stock, shares		-377,073
Redemptions of common stock, value	-3,637	-4	-3,633
Distributions declared	-59,481			-59,481
Commissions on stock sales and related dealer manager fees to affiliate	-50,808		-50,808
Other offering costs	-6,017		-6,017
Balance, value at Dec. 31, 2014	933,096	1,234	1,080,673	-146,621	-2,190
Balance, shares at Dec. 31, 2014	123,426,546	123,426,546
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	-5,574			-5,574
Other comprehensive loss	-4,658				-4,658
Issuance of common stock, shares		26,753,806
Issuance of common stock, value	279,883	268	279,615
Transfers to redeemable common stock	-8,954		-8,954
Redemptions of common stock, shares		-183,867
Redemptions of common stock, value	-1,789	-2	-1,787
Distributions declared	-21,581			-21,581
Commissions on stock sales and related dealer manager fees to affiliate	-25,160		-25,160
Other offering costs	-1,446		-1,446
Balance, value at Mar. 31, 2015	$1,143,817	$1,500	$1,322,941	($173,776)	($6,848)
Balance, shares at Mar. 31, 2015	149,996,485	149,996,485

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Cash Flows from Operating Activities:
Net (loss) income	($5,574)	$6,727
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:
Depreciation and amortization	29,668	17,269
Noncash interest income on real estate-related investment	7	6
Deferred rents	-5,083	-2,174
Allowance for doubtful accounts	181	138
Amortization of above- and below-market leases, net	-1,432	-1,054
Amortization of deferred financing costs	825	481
Unrealized losses on derivative instruments	3,500	0
Gain on sale of real estate	0	-10,895
Changes in operating assets and liabilities:
Rents and other receivables	-2,862	-2,465
Deferred financing costs, prepaid expenses and other assets	-7,609	-5,824
Accounts payable and accrued liabilities	-1,361	-5,373
Other liabilities	2,256	2,060
Due to affiliates	1,714	910
Net cash provided by (used in) operating activities	14,230	-194
Cash Flows from Investing Activities:
Acquisitions of real estate	0	-169,369
Improvements to real estate	-11,760	-4,274
Proceeds from sale of real estate, net	0	42,740
Advances on real estate loan receivable	-1,546	-348
Purchase of interest rate cap	-175	0
Principal repayments on real estate loan receivable	51	40
Net cash used in investing activities	-13,430	-131,211
Cash Flows from Financing Activities:
Proceeds from notes payable	0	102,700
Principal payments on notes payable	-75,960	-40,000
Payments of deferred financing costs	-106	-1,560
Proceeds from issuance of common stock	269,140	131,807
Payments to redeem common stock	-1,789	-524
Payments of commissions on stock sales and related dealer manager fees	-25,160	-12,157
Payments of other offering costs	-1,342	-1,281
Distributions paid to common stockholders	-9,514	-5,392
Net cash provided by financing activities	155,269	173,593
Net increase in cash and cash equivalents	156,069	42,188
Cash and cash equivalents, beginning of period	99,135	33,189
Cash and cash equivalents, end of period	255,204	75,377
Supplemental Disclosure of Cash Flow Information:
Interest paid	7,812	4,165
Supplemental Disclosure of Noncash Investing and Financing Activities:
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	10,743	5,576
Increase in other offering costs payable	153	542
Increase in distributions payable	1,324	693
Increase in capital expenses payable	5,910	0
Liabilities assumed in connection with real estate acquisitions	$0	$967

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION
	KBS Real Estate Investment Trust III, Inc. (the “Company”) was formed on December 22, 2009 as a Maryland corporation that elected to be taxed as a real estate investment trust (“REIT”) beginning with the taxable year ended December 31, 2011 and it intends to continue to operate in such manner. Substantially all of the Company’s business is expected to be conducted through KBS Limited Partnership III (the “Operating Partnership”), a Delaware limited partnership. The Company is the sole general partner of and owns a 0.1% partnership interest in the Operating Partnership. KBS REIT Holdings III LLC (“REIT Holdings III”), the limited partner of the Operating Partnership, owns the remaining 99.9% interest in the Operating Partnership and is its sole limited partner. The Company is the sole member and manager of REIT Holdings III.
	Subject to certain restrictions and limitations, the business of the Company is externally managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, pursuant to an advisory agreement the Company entered into with the Advisor (the “Advisory Agreement”). On January 26, 2010, the Company issued 20,000 shares of its common stock to the Advisor at a purchase price of $10.00 per share. As of March 31, 2015, the Advisor owned 20,000 shares of the Company’s common stock.
	The Company has invested in and intends to invest in a diverse portfolio of real estate investments. The Company’s primary investment focus is core office properties located throughout the United States, though the Company may also invest in industrial and retail properties. The Company’s core property focus in the U.S. office sector has reflected a more value-creating core strategy, and based on the current market outlook, it expects to continue this strategy. In many cases, these properties have slightly higher (10% to 15%) vacancy rates and/or higher near-term lease rollover at acquisition than more conservative value-maintaining core properties. All such real estate assets may be acquired directly by the Company or the Operating Partnership, though the Company may invest in other entities that make similar investments. The Company also currently expects to allocate between 0 and 20% of its portfolio to real estate-related investments such as mortgage loans. As of March 31, 2015, the Company owned 20 office properties and one first mortgage loan secured by a deed of trust.
	On February 4, 2010, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to offer a minimum of 250,000 shares and a maximum of up to 280,000,000 shares, or up to $2,760,000,000 of shares, of common stock for sale to the public (the “Offering”), of which up to 80,000,000 shares, or up to $760,000,000 of shares, are being offered pursuant to the Company’s dividend reinvestment plan. The SEC declared the Company’s registration statement effective on October 26, 2010, and the Company retained KBS Capital Markets Group LLC (the “Dealer Manager”), an affiliate of the Company, to serve as the dealer manager of the Offering pursuant to a dealer manager agreement, as amended and restated (the “Dealer Manager Agreement”). As described above, the Company intends to use substantially all of the net proceeds from the Offering to invest in a diverse portfolio of real estate investments.
	On March 24, 2011, the Company broke escrow in the Offering and through March 31, 2015, the Company had sold 150,645,386 shares of common stock for gross offering proceeds of $1.5 billion, including 6,021,016 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $58.5 million.
	Additionally, on October 3, 2014, the Company issued 258,462 shares for $2.4 million in private transactions exempt from the registration requirements pursuant to Section 4(2) of the Securities Act of 1933.
	On February 14, 2013, the Company filed a registration statement on Form S-11 with the SEC to register a follow-on offering (the “Follow-on Offering”). The Company can give no assurance that it will commence or complete the Follow-on Offering.
	On February 12, 2015, in consideration of the Company’s offering proceeds raised to date and the pace of sales in the Offering, the Company’s board of directors approved the termination of the Company’s primary public offering stage effective approximately 90 days (as determined by the Company’s Chief Executive Officer, such date the “Offering Termination Date”) after the Company has announced that it has raised $1.3 billion in the aggregate in its primary public offerings, whether in the Offering or a follow-on offering. On February 20, 2015, the Company announced that, as of February 20, 2015, it had accepted aggregate gross offering proceeds in excess of $1.3 billion in the Offering. The Company’s Offering Termination Date is Friday, May 29, 2015. Subscriptions must be dated on or before May 29, 2015, and subscriptions and all related documents and funds must be received by the Company in good order no later than July 28, 2015.
	The Company plans to continue to offer shares under its dividend reinvestment plan beyond the termination of the offering stage for its primary offering. In some states, the Company will need to renew the registration statement annually or file a new registration statement to continue the dividend reinvestment plan offering.
	The Company may terminate the Offering or its dividend reinvestment plan offering at any time.
	As of March 31, 2015, the Company had redeemed 927,363 shares sold in the Offering for $8.9 million.

SUMMARY_OF_SIGNIFICANT_ACCOUNT

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
	There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K filed with the SEC.
	Principles of Consolidation and Basis of Presentation
	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
	Use of Estimates
	The preparation of the consolidated financial statements and condensed notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
	Reclassifications
	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation.  These reclassifications have not changed the results of operations of prior periods.
	Per Share Data
	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2015 and 2014, respectively.
	Distributions declared per common share were $0.160 and $0.160 for the three months ended March 31, 2015 and 2014, respectively. Distributions declared per common share assumes each share was issued and outstanding each day during the three months ended March 31, 2015 and 2014, respectively. For each day that was a record date for distributions during the three months ended March 31, 2015 and 2014, distributions were calculated at a rate of $0.00178082 per share per day. Each day during the periods from January 1, 2014 through March 31, 2014 and January 1, 2015 through March 31, 2015 was a record date for distributions.
	Segments
	The Company invests in core real estate properties and real estate-related investments with the goal of acquiring a portfolio of income-producing investments.  The Company’s real estate properties exhibit similar long-term financial performance and have similar economic characteristics to each other.  As of March 31, 2015, the Company aggregated its investments in real estate properties into one reportable business segment.  The Company considered both quantitative and qualitative thresholds and determined that its investment in a real estate loan receivable does not constitute a reportable segment.
	Recently Issued Accounting Standards Update
	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements.
	In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items.  Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.
	In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”).  The amendments in ASU No. 2015-03 require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs.  ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively.  Early adoption is permitted for financial statements that have not been previously issued.  The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs, as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets.

REAL_ESTATE

REAL ESTATE	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE
	As of March 31, 2015, the Company’s real estate portfolio was composed of 20 office properties encompassing in the aggregate approximately 8.2 million rentable square feet. As of March 31, 2015, the Company’s real estate portfolio was collectively 89% occupied. The following table summarizes the Company’s investments in real estate as of March 31, 2015 (in thousands):
	Property		Date Acquired	City		State		Property Type		Total			Accumulated Depreciation and Amortization			Total Real Estate, Net
										Real Estate
										at Cost
	Domain Gateway		9/29/11	Austin		TX		Office		$	47,373		$	(7,620	)	$	39,753
	Town Center		3/27/12	Plano		TX		Office		118,043			(16,646		)	101,397
	McEwen Building		4/30/12	Franklin		TN		Office		40,256			(5,972		)	34,284
	Gateway Tech Center		5/9/12	Salt Lake City		UT		Office		28,203			(3,291		)	24,912
	Tower on Lake Carolyn		12/21/12	Irving		TX		Office		50,192			(7,105		)	43,087
	RBC Plaza		1/31/13	Minneapolis		MN		Office		143,439			(13,313		)	130,126
	One Washingtonian Center		6/19/13	Gaithersburg		MD		Office		89,995			(7,525		)	82,470
	Preston Commons		6/19/13	Dallas		TX		Office		115,845			(9,619		)	106,226
	Sterling Plaza		6/19/13	Dallas		TX		Office		78,893			(7,149		)	71,744
	201 Spear Street		12/3/13	San Francisco		CA		Office		132,642			(5,679		)	126,963
	500 West Madison		12/16/13	Chicago		IL		Office		431,557			(28,233		)	403,324
	222 Main		2/27/14	Salt Lake City		UT		Office		164,565			(6,939		)	157,626
	Anchor Centre		5/22/14	Phoenix		AZ		Office		91,332			(3,640		)	87,692
	171 17th Street		8/25/14	Atlanta		GA		Office		130,441			(4,614		)	125,827
	Rocklin Corporate Center		11/6/14	Rocklin		CA		Office		32,724			(849		)	31,875
	Reston Square		12/3/14	Reston		VA		Office		45,638			(678		)	44,960
	Ten Almaden		12/5/14	San Jose		CA		Office		117,302			(1,603		)	115,699
	Towers at Emeryville		12/23/14	Emeryville		CA		Office		250,292			(3,626		)	246,666
	101 South Hanley		12/24/14	St. Louis		MO		Office		63,572			(966		)	62,606
	3003 Washington Boulevard		12/30/14	Arlington		VA		Office		148,915			(1,168		)	147,747
										$	2,321,219		$	(136,235	)	$	2,184,984
	As of March 31, 2015, the following property represented more than 10% of the Company’s total assets:
	Property		Location	Rentable			Total				Percentage		Annualized Base Rent			Average Annualized Base Rent per sq. ft.		Occupancy
				Square			Real Estate, Net				of Total		(in thousands) (1)
				Feet			(in thousands)				Assets
	500 West Madison		Chicago, IL	1,457,724			$	403,324			15.9	%	$	34,423		$	25.41	92.9	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	Operating Leases
	The Company’s real estate properties are leased to tenants under operating leases for which the terms and expirations vary. As of March 31, 2015, the leases had remaining terms, excluding options to extend, of up to 14.2 years with a weighted-average remaining term of 5.2 years. Some of the leases have provisions to extend the term of the leases, options for early termination for all or a part of the leased premises after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires a security deposit from the tenant in the form of a cash deposit and/or a letter of credit. The amount required as a security deposit varies depending upon the terms of the respective lease and the creditworthiness of the tenant, but generally is not a significant amount. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit. Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $8.1 million and $7.9 million as of March 31, 2015 and December 31, 2014, respectively.
	During the three months ended March 31, 2015 and 2014, the Company recognized deferred rent from tenants of $5.1 million and $2.2 million, respectively. As of March 31, 2015 and December 31, 2014, the cumulative deferred rent balance was $23.7 million and $18.4 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $1.3 million and $1.1 million of unamortized lease incentives as of March 31, 2015 and December 31, 2014, respectively.
	As of March 31, 2015, the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands):
	April 1, 2015 through December 31, 2015	$	144,702
	2016	190,581
	2017	175,080
	2018	156,446
	2019	133,201
	Thereafter	430,556
		$	1,230,566
	As of March 31, 2015, the Company’s real estate properties were leased to approximately 600 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
	Industry		Number of Tenants	Annualized				Percentage of Annualized Base Rent
				Base Rent (1)
				(in thousands)
	Finance		125	$	47,902			23.2	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	As of March 31, 2015, no other tenant industries accounted for more than 10% of annualized base rent and no tenant accounted for more than 10% of annualized base rent. No material tenant credit issues have been identified at this time.
	Geographic Concentration Risk
	As of March 31, 2015, the Company’s net investments in real estate in California, Illinois, and Texas represented 20%, 16% and 14% of the Company’s total assets, respectively.  As a result, the geographic concentration of the Company’s portfolio makes it particularly susceptible to adverse economic developments in the California, Illinois, and Texas real estate markets.  Any adverse economic or real estate developments in these markets, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for office space resulting from the local business climate, could adversely affect the Company’s operating results and its ability to make distributions to stockholders.

TENANT_ORIGINATION_AND_ABSORPT

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	3 Months Ended
	Mar. 31, 2015
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
	As of March 31, 2015 and December 31, 2014, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
			Tenant Origination and								Above-Market								Below-Market
			Absorption Costs								Lease Assets								Lease Liabilities
			March 31,				December 31,				March 31,				December 31,				March 31,				December 31,
			2015				2014				2015				2014				2015				2014
	Cost		$	219,115			$	221,169			$	15,961			$	16,113			$	(40,371	)		$	(41,175	)
	Accumulated Amortization		(46,702		)		(38,645		)		(3,280		)		(2,369		)		10,121				8,430
	Net Amount		$	172,413			$	182,524			$	12,681			$	13,744			$	(30,250	)		$	(32,745	)
	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three months ended March 31, 2015 and 2014 were as follows (in thousands):
		Tenant Origination and								Above-Market								Below-Market
		Absorption Costs								Lease Assets								Lease Liabilities
		For the Three Months Ended March 31,								For the Three Months Ended March 31,								For the Three Months Ended March 31,
		2015				2014				2015				2014				2015				2014
	Amortization	$	(10,110	)		$	(6,252	)		$	(1,063	)		$	(469	)		$	2,495			$	1,523

REAL_ESTATE_LOANS_RECEIVABLE

REAL ESTATE LOANS RECEIVABLE	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
REAL ESTATE LOANS RECEIVABLE	REAL ESTATE LOAN RECEIVABLE
	As of March 31, 2015 and December 31, 2014, the Company, through an indirect wholly owned subsidiary, had originated one real estate loan receivable as follows (dollars in thousands):
	Loan Name		Date Originated		Property Type		Loan Type		Outstanding Principal Balance as of March 31,		Book Value		Book Value		Contractual Interest	Annualized Effective Interest	Maturity Date
	Location of Related Property or Collateral								2015 (1)		as of		as of		Rate (3)	Rate (3)
											March 31,		December 31,
											2015 (2)		2014 (2)
	Aberdeen First Mortgage Origination
	Dallas, Texas		6/24/11		Office		Mortgage		$	21,462	$	21,498	$	20,010	7.50%	7.50%	7/1/16
	_____________________
	(1) Outstanding principal balance as of March 31, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
	(2) Book value represents outstanding principal balance, adjusted for unamortized origination fees and direct origination and acquisition costs.
	(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, divided by the average amortized cost basis of the investment. The contractual interest rate and annualized effective interest rate presented are as of March 31, 2015.
	The following summarizes the activity related to the real estate loan receivable for the three months ended March 31, 2015 (in thousands):
	Real estate loan receivable - December 31, 2014	$	20,010
	Advances on real estate loan receivable	1,546
	Principal repayments received on real estate loan receivable	(51		)
	Amortization of closing costs and origination fees on originated real estate loan receivable	(7		)
	Real estate loan receivable - March 31, 2015	$	21,498
	For the three months ended March 31, 2015 and 2014, interest income from the real estate loan receivable consisted of the following (in thousands):
		Three Months Ended March 31,
		2015				2014
	Contractual interest income	$	389			$	326
	Amortization of closing costs and origination fees	(7		)		(6		)
	Interest income from real estate loan receivable	$	382			$	320
	As of March 31, 2015, the borrower under the Aberdeen First Mortgage Origination was current on its payments.

NOTES_PAYABLE

NOTES PAYABLE	3 Months Ended
	Mar. 31, 2015
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE
	As of March 31, 2015 and December 31, 2014, the Company’s notes payable consisted of the following (dollars in thousands):
		Principal as of		Principal as of		Contractual Interest Rate as of	Effective	Payment Type	Maturity Date (2)
		31-Mar-15		31-Dec-14		March 31, 2015(1)	Interest Rate as of
							March 31, 2015 (1)
	Town Center Mortgage Loan	$	75,000	$	75,000	One-month LIBOR + 1.85%	2.87%	Interest Only	3/27/18
	Portfolio Loan (4)	130,000		160,000		One-month LIBOR + 1.75%	1.92%	Interest Only	4/1/18
	RBC Plaza Mortgage Loan	74,465		74,465		One-month LIBOR + 1.80%	2.54%	Interest Only	2/1/17
	National Office Portfolio Mortgage Loan (5)	166,893		166,893		One-month LIBOR + 1.50%	2.77%	Interest Only	7/1/17
	500 West Madison Mortgage Loan (6)	215,000		255,000		One-month LIBOR + 1.65%	3.16%	Interest Only	12/16/18
	222 Main Mortgage Loan	102,700		102,700		3.97%	3.97%	Interest Only(3)	3/1/21
	Anchor Centre Mortgage Loan	50,000		50,000		One-month LIBOR + 1.50%	1.67%	Interest Only	6/1/17
	171 17th Street Mortgage Loan (7)	79,500		79,500		One-month LIBOR + 1.45%	2.69%	Interest Only(3)	9/1/18
	Reston Square Mortgage Loan	23,840		29,800		One-month LIBOR + 1.50%	1.67%	Interest Only	2/1/18
	Ten Almaden Mortgage Loan (8)	63,540		63,540		One-month LIBOR + 1.65%	1.82%	Interest Only	1/1/18
	Towers at Emeryville Mortgage Loan (9)	142,500		142,500		One-month LIBOR + 1.75%	1.92%	Interest Only	1/15/18
	101 South Hanley Mortgage Loan (10)	34,500		34,500		One-month LIBOR + 1.55%	1.72%	Interest Only(3)	1/1/20
	3003 Washington Boulevard Mortgage Loan	89,000		89,000		One-month LIBOR + 1.55%	1.72%	Interest Only	2/1/20
	Total Notes Payable	$	1,246,938	$	1,322,898
	_____________________
	(1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2015. Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2015 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of March 31, 2015, where applicable. For further information regarding the Company's derivative instruments, see Note 7, “Derivative Instruments.”
	(2) Represents the maturity date as of March 31, 2015; subject to certain conditions, the maturity dates of certain loans may be extended beyond the dates shown.
	(3) Represents the payment type required under the loan as of March 31, 2015. Certain future monthly payments due under these loans also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes payable, see five-year maturity table below.
	(4) As of March 31, 2015, the Portfolio Loan was secured by Domain Gateway, the McEwen Building, Gateway Tech Center, the Tower on Lake Carolyn and 201 Spear Street. The face amount of the Portfolio Loan is $200.0 million, of which $130.0 million is term debt and $70.0 million is revolving debt. As of March 31, 2015, the outstanding balance under the loan was $130.0 million of term debt. As of March 31, 2015, an additional $60.3 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. The remaining $9.7 million of revolving debt was available for future disbursements upon the Company meeting certain financial coverage ratios and subject to certain conditions set forth in the loan agreement. During the term of the Portfolio Loan, the Company has an option, which may be exercised up to three times, to increase the loan amount to a maximum of $350.0 million, of which 65% would be non-revolving debt and 35% would be revolving debt, with the addition of one or more properties to secure the Portfolio Loan, subject to certain conditions contained in the loan documents.
	(5) The National Office Portfolio Mortgage Loan is secured by One Washingtonian Center, Preston Commons and Sterling Plaza.
	(6) As of March 31, 2015, $215.0 million of term debt was outstanding and $40.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents.
	(7) As of March 31, 2015, $79.5 million had been disbursed to the Company and $6.0 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents. Monthly payments are initially interest-only. Beginning October 1, 2017 and continuing on the first day of each month thereafter through the maturity date of the loan, the committed amount of $85.5 million (the “Committed Amount”) will be reduced by $69,300 per month. To the extent that, following any such reduction in the Committed Amount, the outstanding principal balance of the loan exceeds the then Committed Amount, the 171 17th Street owner will pay to the lender a principal payment in an amount sufficient to reduce the outstanding principal balance of the loan to an amount less than the then reduced Committed Amount. The remaining principal balance, all accrued and unpaid interest and any other amounts will be due at maturity.
	(8) As of March 31, 2015, $63.5 million had been disbursed to the Company and $13.1 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
	(9) As of March 31, 2015, $142.5 million had been disbursed to the Company and $32.5 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
	(10) As of March 31, 2015, $34.5 million had been disbursed to the Company and $12.7 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents.
	As of March 31, 2015 and December 31, 2014, the Company’s deferred financing costs were $10.5 million and $11.2 million, respectively, net of amortization, and are included in deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets.
	During the three months ended March 31, 2015 and 2014, the Company incurred $12.4 million and $5.3 million of interest expense, respectively. As of March 31, 2015 and December 31, 2014, $2.7 million and $2.4 million of interest expense were payable, respectively. Included in interest expense for the three months ended March 31, 2015 and 2014 were $0.8 million and $0.5 million of amortization of deferred financing costs, respectively. Interest expense incurred as a result of the Company’s derivative instruments for the three months ended March 31, 2015 and 2014 were $5.2 million and $1.0 million, respectively.
	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of March 31, 2015 (in thousands):
	April 1, 2015 through December 31, 2015	$	—
	2016	1,357
	2017	293,231
	2018	731,808
	2019	2,581
	Thereafter	217,961
		$	1,246,938
	The Company’s notes payable contain financial debt covenants. As of March 31, 2015, the Company was in compliance with these debt covenants.

DERIVATIVE_INSTRUMENTS

DERIVATIVE INSTRUMENTS	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS
	The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates. The primary goal of the Company’s risk management practices related to interest rate risk is to prevent changes in interest rates from adversely impacting the Company’s ability to achieve its investment return objectives. The Company does not enter into derivatives for speculative purposes.
	The Company enters into interest rate swaps as a fixed rate payer to mitigate its exposure to rising interest rates on its variable rate notes payable. The value of interest rate swaps is primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of the fixed rate payer position and decrease the value of the variable rate payer position. As the remaining life of the interest rate swap decreases, the value of both positions will generally move towards zero.
	The Company enters into interest rate caps to mitigate its exposure to rising interest rates on its variable rate notes payable. The values of interest rate caps are primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of interest rate caps. As the remaining life of an interest rate cap decreases, the value of the instrument will generally decrease towards zero.
	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps and cap as of March 31, 2015 and December 31, 2014. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands):
		31-Mar-15						31-Dec-14						Weighted-Average	Weighted-Average Remaining Term
	Derivative Instruments	Number of Instruments		Notional Amount				Number of Instruments	Notional Amount				Reference Rate as of March 31, 2015	Fix Pay Rate	in Years
	Derivative instruments designated as hedging instruments
	Interest Rate Swaps (1)	7		$	625,130			7	$	625,130			One-month LIBOR/	1.35%	3.2
													Fixed at 0.79% - 1.68%
	Derivative instruments not designated as hedging instruments
	Interest Rate Swaps (1)	6		$	353,380			4	$	264,680			One-month LIBOR/	2.14%	2.9
													Fixed at 1.81% - 2.37%
	Interest Rate Cap (2)	1		$	353,380			—	$	—			One-month LIBOR	2.46%	1.8
													at 2.46%
	_____________________
	(1) Included in these amounts are seven forward interest rate swaps with an aggregate notional amount of $403.4 million that were not yet in effect as of March 31, 2015. These seven interest rate swaps will become effective at various times between 2015 and 2017.
	(2) On January 7, 2015, the Company entered into an interest rate cap with an unaffiliated LIBOR cap provider, for a notional amount of $353.4 million, effective from January 7, 2015 to June 30, 2016. The notional amount on the interest rate cap is reduced to $147.3 million from July 1, 2016 to January 1, 2017.
	The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of March 31, 2015 and December 31, 2014 (dollars in thousands):
				31-Mar-15					31-Dec-14
	Derivative Instruments	Balance Sheet Location		Number of		Fair Value			Number of		Fair Value
				Instruments					Instruments
	Derivative instruments designated as hedging instruments
	Interest Rate Swaps	Deferred financing costs, prepaid expenses and other assets, at fair value		1		$	59		2		$	431
	Interest Rate Swaps	Other liabilities, at fair value		6		$	(6,907	)	5		$	(2,621	)
	Derivative instruments not designated as hedging instruments
	Interest Rate Swaps	Other liabilities, at fair value		6		$	(4,871	)	4		$	(1,494	)
	Interest Rate Cap	Deferred financing costs, prepaid expenses and other assets, at fair value		1		$	51		—		$	—
	The change in fair value of the effective portion of a derivative instrument that is designated as a cash flow hedge is recorded as other comprehensive income (loss) on the accompanying consolidated statements of comprehensive income (loss) and as other comprehensive income on the accompanying consolidated statements of stockholders’ equity. Amounts in other comprehensive income (loss) will be reclassified into earnings in the periods in which earnings are affected by the hedged cash flow.  The change in fair value of the ineffective portion is recognized directly in earnings. With respect to swap agreements that were terminated for which it remains probable that the original hedged forecasted transactions (i.e., LIBOR-based debt service payments) will occur, the loss related to the termination of these swap agreements is included in accumulated other comprehensive income (loss) and is reclassified into earnings over the period of the original forecasted hedged transaction. The change in fair value of a derivative instrument that is not designated as a cash flow hedge is recorded as interest expense in the accompanying consolidated statements of operations. The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands):
		For the Three Months Ended March 31,
		2015				2014
	Income statement related
	Derivatives designated as hedging instruments
	Amount of expense recognized on interest rate swaps (effective portion)	$	1,651			$	963
		1,651				963
	Derivatives not designated as hedging instruments
	Unrealized loss on interest rate swaps	3,376				—
	Unrealized loss on interest rate cap	124				—
		3,500				—
	Increase in interest expense as a result of derivatives	$	5,151			$	963
	Other comprehensive income related
	Unrealized losses on derivative instruments	$	6,309			$	2,194
	During the three months ended March 31, 2015, there was no ineffective portion related to the change in fair value of the cash flow hedges. During the next 12 months, the Company expects to recognize additional interest expense related to derivative instruments designated as cash flow hedges. The present value of the additional interest expense expected to be recognized over the next 12 months related to derivative instruments designated as cash flow hedges totaled $6.2 million as of March 31, 2015 and was included in accumulated other comprehensive income (loss).

FAIR_VALUE_DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES
	Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories:
	•	Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
	•	Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
	•	Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable.
	The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value:
	Cash and cash equivalents, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items.
	Real estate loan receivable: The Company’s real estate loan receivable is presented in the accompanying consolidated balance sheets at its amortized cost net of recorded loan loss reserves and not at fair value. The fair value of the real estate loan receivable was estimated using an internal valuation model that considered the expected cash flows for the loan, underlying collateral value and estimated yield requirements of institutional investors for loans with similar characteristics, including remaining loan term, loan-to-value, type of collateral and other credit enhancements. The Company classifies these inputs as Level 3 inputs.
	Derivative instruments: The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk.
	Notes payable: The fair values of the Company’s notes payable are estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of a liability in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs.
	The following were the face values, carrying amounts and fair values of the Company’s real estate loan receivable and notes payable as of March 31, 2015 and December 31, 2014, which carrying amounts generally do not approximate the fair values (in thousands):
			March 31, 2015								December 31, 2014
			Face Value			Carrying Amount		Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loan receivable		$	21,462		$	21,498	$	21,441		$	19,968	$	20,010	$	19,914
	Financial liabilities:
	Notes payable		$	1,246,938		$	1,246,938	$	1,249,005		$	1,322,898	$	1,322,898	$	1,324,139
	Disclosure of the fair values of financial instruments is based on pertinent information available to the Company as of the period end and requires a significant amount of judgment. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of value at a future date could be materially different.
	During the three months ended March 31, 2015, the Company measured the following assets and liabilities at fair value (in thousands):
						Fair Value Measurements Using
			Total			Quoted Prices in Active Markets		Significant Other Observable			Significant Unobservable
						for Identical Assets (Level 1)		Inputs (Level 2)			Inputs (Level 3)
	Recurring Basis:
	Asset derivatives - interest rate swap		$	59		$	—	$	59		$	—
	Asset derivatives - interest rate cap		51			—		51			—
	Liability derivatives - interest rate swaps		(11,778		)	—		(11,778		)	—

RELATED_PARTY_TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS
	The Company has entered into the Advisory Agreement with the Advisor and the Dealer Manager Agreement with the Dealer Manager. These agreements entitle the Advisor and/or the Dealer Manager to specified fees upon the provision of certain services with regard to the Offering and entitle the Advisor to specified fees upon the provision of certain services with regard to the investment of funds in real estate investments, the management of those investments, among other services, and the disposition of investments, as well as reimbursement of organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company, such as expenses related to the Offering and dividend reinvestment plan, and certain costs incurred by the Advisor in providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. The Company has also entered into a fee reimbursement agreement with the Dealer Manager pursuant to which the Company agreed to reimburse the Dealer Manager for certain fees and expenses it incurs for administering the Company’s participation in the DTCC Alternative Investment Product Platform with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor and Dealer Manager also serve as the advisor and dealer manager, respectively, for KBS Real Estate Investment Trust, Inc., KBS Real Estate Investment Trust II, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc. and KBS Strategic Opportunity REIT II, Inc. and expect to serve as the advisor and dealer manager, respectively, for KBS Growth & Income REIT, Inc.
	On January 6, 2014, the Company, together with KBS Real Estate Investment Trust, Inc., KBS Real Estate Investment Trust II, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc., KBS Strategic Opportunity REIT II, Inc., the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the program, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance.
	During the three months ended March 31, 2015 and 2014, no other business transactions occurred between the Company and KBS Real Estate Investment Trust, Inc., KBS Real Estate Investment Trust II, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc. and KBS Strategic Opportunity REIT II, Inc.
	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three months ended March 31, 2015 and 2014, respectively, and any related amounts payable as of March 31, 2015 and December 31, 2014 (in thousands):
		Incurred				Payable as of
		Three Months Ended				March 31,		December 31,
		March 31,
		2015		2014		2015		2014
	Expensed
	Asset management fees (1)	$	4,317	$	2,459	$	5,166	$	3,465
	Reimbursement of operating expenses (2)	39		27		49		36
	Real estate acquisition fees	—		1,705		—		—
	Additional Paid-in Capital
	Selling commissions	17,084		8,202		—		—
	Dealer manager fees	8,076		3,955		—		—
	Reimbursable other offering costs (3)	903		1,122		206		53
		$	30,419	$	17,470	$	5,421	$	3,554
	_____________________
	(1) As of March 31, 2015, the Company had accrued and deferred payment of $5.2 million of asset management fees. See “Deferral of Asset Management Fees” below.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $33,000 and $27,000 for the three months ended March 31, 2015 and 2014, respectively, and were the only employee costs reimbursed under the Advisory Agreement for the three months ended March 31, 2015 and 2014, respectively. The Company will not reimburse for employee costs in connection with services for which the Advisor earns acquisition or origination fees or disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Also see “Other Offering Costs” below.
	In connection with the Offering, the Company’s sponsors agreed to provide additional indemnification to one of the participating broker dealers.  The Company agreed to add supplemental coverage to its directors’ and officers’ insurance coverage to insure the sponsors’ obligations under this indemnification agreement in exchange for reimbursement by the sponsors to the Company for all costs, expenses and premiums related to this supplemental coverage. During the three months ended March 31, 2015, the Advisor had not incurred any costs of the supplemental coverage obtained by the Company.
	Other Offering Costs
	Pursuant to the Advisory Agreement, the Advisor would be obligated to reimburse the Company to the extent organization and offering costs incurred by the Company in each of the Offering and the Follow-on Offering exceed 15% of the gross offering proceeds of the respective offering. As of March 31, 2015, organizational and offering costs in the Offering did not exceed 15% of the gross offering proceeds. From inception through March 31, 2015, the Company had recorded $1.2 million of offering costs related to the Follow-on Offering.
	As of March 31, 2015, the Company had not commenced the Follow-on Offering and does not anticipate raising significant proceeds, if any, in the Follow-on Offering. As such, the Company classified $1.2 million of offering costs as due from affiliate on its consolidated balance sheet. Prior to March 31, 2015, the Company classified offering costs related to the Follow-on Offering as deferred financing costs, prepaid expenses and other assets. These amounts have been reclassified as due from affiliate for all periods presented on the accompanying consolidated balance sheets.
	Deferral of Asset Management Fees
	Pursuant to the Advisory Agreement, with respect to asset management fees accruing from March 1, 2014, the Advisor has agreed to defer, without interest, the Company’s obligation to pay asset management fees for any month in which the Company’s modified funds from operations (“MFFO”) for such month, as such term is defined in the practice guideline issued by the Investment Program Association (“IPA”) in November 2010 and interpreted by the Company, excluding asset management fees, does not exceed the amount of distributions declared by the Company for record dates of that month. The Company remains obligated to pay the Advisor an asset management fee in any month in which the Company's MFFO, excluding asset management fees, for such month exceeds the amount of distributions declared for the record dates of that month (such excess amount, an “MFFO Surplus”); however, any amount of such asset management fee in excess of the MFFO Surplus will also be deferred under the Advisory Agreement. If the MFFO Surplus for any month exceeds the amount of the asset management fee payable for such month, any remaining MFFO Surplus will be applied to pay any asset management fee amounts previously deferred in accordance with the Advisory Agreement.
	However, notwithstanding the foregoing, any and all deferred asset management fees that are unpaid will become immediately due and payable at such time as the Company's stockholders have received, together as a collective group, aggregate distributions (including distributions that may constitute a return of capital for federal income tax purposes) sufficient to provide (i) an 8.0% per year cumulative, noncompounded return on such net invested capital (the “Stockholders’ 8% Return”) and (ii) a return of their net invested capital, or the amount calculated by multiplying the total number of shares purchased by stockholders by the issue price, reduced by any amounts to repurchase shares pursuant to the Company's share redemption program. The Stockholders’ 8% Return is not based on the return provided to any individual stockholder. Accordingly, it is not necessary for each of the Company's stockholders to have received any minimum return in order for the Advisor to receive deferred asset management fees.
	As of March 31, 2015, the Company had accrued and deferred payment of $5.2 million of asset management fees under the Advisory Agreement, as the Company believes the payment of this amount to the Advisor is probable. These fees will be reimbursed in accordance with the terms noted above.

COMMITMENTS_AND_CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES
	Economic Dependency
	The Company is dependent on the Advisor and the Dealer Manager for certain services that are essential to the Company, including the sale of the Company’s shares of common and, if applicable, preferred stock available for issue; the identification, evaluation, negotiation, origination, acquisition and disposition of investments; management of the daily operations of the Company’s investment portfolio; and other general and administrative responsibilities. In the event that the Advisor and the Dealer Manager are unable to provide the respective services, the Company will be required to obtain such services from other sources.
	Legal Matters
	From time to time, the Company may be party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on the Company’s results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote.
	Environmental
	As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Compliance with existing environmental laws is not expected to have a material adverse effect on the Company’s financial condition and results of operations as of March 31, 2015.

SUBSEQUENT_EVENTS

SUBSEQUENT EVENTS	3 Months Ended
	Mar. 31, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS
	The Company evaluates subsequent events up until the date the consolidated financial statements are issued.
	Status of the Offering
	The Company commenced the Offering on October 26, 2010. As of May 11, 2015, the Company had sold 162,925,910 shares of common stock in the Offering for gross offering proceeds of $1.7 billion, including 6,890,237 shares of common stock sold under its dividend reinvestment plan for gross offering proceeds of $67.2 million. Also as of May 11, 2015, the Company had redeemed 970,415 of the shares sold in the Offering for $9.4 million.
	Distributions Paid
	On April 1, 2015, the Company paid distributions of $7.9 million, which related to distributions declared for daily record dates for each day in the period from March 1, 2015 through March 31, 2015. On May 1, 2015, the Company paid distributions of $8.3 million, which related to distributions declared for daily record dates for each day in the period from April 1, 2015 through April 30, 2015.
	Distributions Declared
	On May 13, 2015, the Company’s board of directors declared distributions based on daily record dates for the period from June 1, 2015 through June 30, 2015, which the Company expects to pay in July 2015, and distributions based on daily record dates for the period from July 1, 2015 through July 31, 2015, which the Company expects to pay in August 2015. Investors may choose to receive cash distributions or purchase additional shares through the Company’s dividend reinvestment plan.
	Distributions for these periods will be calculated based on stockholders of record each day during these periods at a rate of $0.00178082 per share per day and equal a daily amount that, if paid each day for a 365-day period, would equal a 6.5% annualized rate based on the initial primary Offering purchase price of $10.00 per share or a 6.18% annualized rate based on the current primary Offering purchase price of $10.51 per share.
	Probable Acquisition Subsequent to March 31, 2015
	Probable Acquisition of Village Center Station
	On May 1, 2015, the Company, through an indirect wholly owned subsidiary, entered into a purchase agreement to acquire an office property containing 234,915 rentable square feet located on approximately 3.2 acres of land in the Denver submarket of Greenwood Village, Colorado (“Village Center Station”). The seller is not affiliated with the Company or the Advisor. The contractual purchase price of Village Center Station is approximately $76.7 million plus closing costs. Pursuant to the purchase agreement, the Company would be obligated to purchase the property only after satisfaction of agreed upon closing conditions. There can be no assurance that the Company will complete the acquisition. In some circumstances, if the Company fails to complete the acquisition, it may forfeit up to $2.0 million of earnest money.
	Village Center Station was constructed in 2009.  As of May 1, 2015, Village Center Station was 99% leased to 11 tenants with a weighted-average remaining lease term of 4.9 years.
	Financing Subsequent to March 31, 2015
	Rocklin Corporate Center Mortgage Loan
	On May 6, 2015, the Company, through an indirect wholly owned subsidiary (the “Rocklin Corporate Center Borrower”), entered into a mortgage loan with an unaffiliated lender for borrowings of up to $22.9 million secured by Rocklin Corporate Center (the “Rocklin Corporate Center Mortgage Loan”). At closing, $19.1 million of the loan was funded and the remaining $3.8 million was available for future disbursements to be used for tenant improvements and leasing commissions, subject to certain terms and conditions contained in the loan documents. The Rocklin Corporate Center Mortgage Loan matures on June 5, 2018, with two one-year extension options, subject to certain terms and conditions contained in the loan documents. The Rocklin Corporate Center Mortgage Loan bears interest at a floating rate of 150 basis points over one-month LIBOR. Monthly payments are interest-only during the initial term. The Rocklin Corporate Center Borrower has the right to repay the loan in part and in whole at any time subject to certain conditions and fees as described in the loan documents.
	KBS REIT Properties III, LLC (“REIT Properties III”), the Company’s wholly owned subsidiary, is providing a guaranty of an amount not greater than 25% of the outstanding balance of the Rocklin Corporate Center Mortgage Loan on the date the loan becomes due and payable in full. REIT Properties III is also providing, in certain circumstances as described in the guaranty, a guaranty with respect to any cost, loss or damage suffered by the lender under the Rocklin Corporate Center Mortgage Loan as a result of certain intentional actions committed by the Rocklin Corporate Center Borrower and/or REIT Properties III in violation of the loan documents. REIT Properties III is also providing a guaranty of the principal balance and any interest or other sums outstanding under the Rocklin Corporate Center Mortgage Loan in the event of certain transfer, encumbrance, bankruptcy or insolvency proceedings involving the Rocklin Corporate Center Borrower or REIT Properties III and/or any of their affiliates.

SUMMARY_OF_SIGNIFICANT_ACCOUNT1

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2015
Accounting Policies [Abstract]
Principles of Consolidation and Basis of Presentation	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
	The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	The preparation of the consolidated financial statements and condensed notes thereto in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Reclassifications	Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation.  These reclassifications have not changed the results of operations of prior periods.
Per Share Data	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2015 and 2014, respectively.
	Distributions declared per common share were $0.160 and $0.160 for the three months ended March 31, 2015 and 2014, respectively. Distributions declared per common share assumes each share was issued and outstanding each day during the three months ended March 31, 2015 and 2014, respectively. For each day that was a record date for distributions during the three months ended March 31, 2015 and 2014, distributions were calculated at a rate of $0.00178082 per share per day. Each day during the periods from January 1, 2014 through March 31, 2014 and January 1, 2015 through March 31, 2015 was a record date for distributions.
Segments	The Company invests in core real estate properties and real estate-related investments with the goal of acquiring a portfolio of income-producing investments.  The Company’s real estate properties exhibit similar long-term financial performance and have similar economic characteristics to each other.  As of March 31, 2015, the Company aggregated its investments in real estate properties into one reportable business segment.  The Company considered both quantitative and qualitative thresholds and determined that its investment in a real estate loan receivable does not constitute a reportable segment.
Recently Issued Accounting Standards Update	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements.
	In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements.
	In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items.  Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.
	In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”).  The amendments in ASU No. 2015-03 require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs.  ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively.  Early adoption is permitted for financial statements that have not been previously issued.  The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs, as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets.

REAL_ESTATE_Tables

REAL ESTATE (Tables)	3 Months Ended
	Mar. 31, 2015
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s investments in real estate as of March 31, 2015 (in thousands):
	Property		Date Acquired	City		State		Property Type		Total			Accumulated Depreciation and Amortization			Total Real Estate, Net
										Real Estate
										at Cost
	Domain Gateway		9/29/11	Austin		TX		Office		$	47,373		$	(7,620	)	$	39,753
	Town Center		3/27/12	Plano		TX		Office		118,043			(16,646		)	101,397
	McEwen Building		4/30/12	Franklin		TN		Office		40,256			(5,972		)	34,284
	Gateway Tech Center		5/9/12	Salt Lake City		UT		Office		28,203			(3,291		)	24,912
	Tower on Lake Carolyn		12/21/12	Irving		TX		Office		50,192			(7,105		)	43,087
	RBC Plaza		1/31/13	Minneapolis		MN		Office		143,439			(13,313		)	130,126
	One Washingtonian Center		6/19/13	Gaithersburg		MD		Office		89,995			(7,525		)	82,470
	Preston Commons		6/19/13	Dallas		TX		Office		115,845			(9,619		)	106,226
	Sterling Plaza		6/19/13	Dallas		TX		Office		78,893			(7,149		)	71,744
	201 Spear Street		12/3/13	San Francisco		CA		Office		132,642			(5,679		)	126,963
	500 West Madison		12/16/13	Chicago		IL		Office		431,557			(28,233		)	403,324
	222 Main		2/27/14	Salt Lake City		UT		Office		164,565			(6,939		)	157,626
	Anchor Centre		5/22/14	Phoenix		AZ		Office		91,332			(3,640		)	87,692
	171 17th Street		8/25/14	Atlanta		GA		Office		130,441			(4,614		)	125,827
	Rocklin Corporate Center		11/6/14	Rocklin		CA		Office		32,724			(849		)	31,875
	Reston Square		12/3/14	Reston		VA		Office		45,638			(678		)	44,960
	Ten Almaden		12/5/14	San Jose		CA		Office		117,302			(1,603		)	115,699
	Towers at Emeryville		12/23/14	Emeryville		CA		Office		250,292			(3,626		)	246,666
	101 South Hanley		12/24/14	St. Louis		MO		Office		63,572			(966		)	62,606
	3003 Washington Boulevard		12/30/14	Arlington		VA		Office		148,915			(1,168		)	147,747
										$	2,321,219		$	(136,235	)	$	2,184,984
Schedule of Future Minimum Rental Income for Company's Properties	As of March 31, 2015, the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands):
	April 1, 2015 through December 31, 2015	$	144,702
	2016	190,581
	2017	175,080
	2018	156,446
	2019	133,201
	Thereafter	430,556
		$	1,230,566
Schedules of Concentration of Risk, by Risk Factor	As of March 31, 2015, the following property represented more than 10% of the Company’s total assets:
	Property		Location	Rentable			Total				Percentage		Annualized Base Rent			Average Annualized Base Rent per sq. ft.		Occupancy
				Square			Real Estate, Net				of Total		(in thousands) (1)
				Feet			(in thousands)				Assets
	500 West Madison		Chicago, IL	1,457,724			$	403,324			15.9	%	$	34,423		$	25.41	92.9	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
	As of March 31, 2015, the Company’s real estate properties were leased to approximately 600 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
	Industry		Number of Tenants	Annualized				Percentage of Annualized Base Rent
				Base Rent (1)
				(in thousands)
	Finance		125	$	47,902			23.2	%
	_____________________
	(1) Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

TENANT_ORIGINATION_AND_ABSORPT1

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	3 Months Ended
	Mar. 31, 2015
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	As of March 31, 2015 and December 31, 2014, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands):
			Tenant Origination and								Above-Market								Below-Market
			Absorption Costs								Lease Assets								Lease Liabilities
			March 31,				December 31,				March 31,				December 31,				March 31,				December 31,
			2015				2014				2015				2014				2015				2014
	Cost		$	219,115			$	221,169			$	15,961			$	16,113			$	(40,371	)		$	(41,175	)
	Accumulated Amortization		(46,702		)		(38,645		)		(3,280		)		(2,369		)		10,121				8,430
	Net Amount		$	172,413			$	182,524			$	12,681			$	13,744			$	(30,250	)		$	(32,745	)
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three months ended March 31, 2015 and 2014 were as follows (in thousands):
		Tenant Origination and								Above-Market								Below-Market
		Absorption Costs								Lease Assets								Lease Liabilities
		For the Three Months Ended March 31,								For the Three Months Ended March 31,								For the Three Months Ended March 31,
		2015				2014				2015				2014				2015				2014
	Amortization	$	(10,110	)		$	(6,252	)		$	(1,063	)		$	(469	)		$	2,495			$	1,523

REAL_ESTATE_LOANS_RECEIVABLE_T

REAL ESTATE LOANS RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2015
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	As of March 31, 2015 and December 31, 2014, the Company, through an indirect wholly owned subsidiary, had originated one real estate loan receivable as follows (dollars in thousands):
	Loan Name		Date Originated		Property Type		Loan Type		Outstanding Principal Balance as of March 31,		Book Value		Book Value		Contractual Interest	Annualized Effective Interest	Maturity Date
	Location of Related Property or Collateral								2015 (1)		as of		as of		Rate (3)	Rate (3)
											March 31,		December 31,
											2015 (2)		2014 (2)
	Aberdeen First Mortgage Origination
	Dallas, Texas		6/24/11		Office		Mortgage		$	21,462	$	21,498	$	20,010	7.50%	7.50%	7/1/16
	_____________________
	(1) Outstanding principal balance as of March 31, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
	(2) Book value represents outstanding principal balance, adjusted for unamortized origination fees and direct origination and acquisition costs.
	(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, divided by the average amortized cost basis of the investment. The contractual interest rate and annualized effective interest rate presented are as of March 31, 2015.
Schedule of Activity Related to Real Estate Loans Receivable	The following summarizes the activity related to the real estate loan receivable for the three months ended March 31, 2015 (in thousands):
	Real estate loan receivable - December 31, 2014	$	20,010
	Advances on real estate loan receivable	1,546
	Principal repayments received on real estate loan receivable	(51		)
	Amortization of closing costs and origination fees on originated real estate loan receivable	(7		)
	Real estate loan receivable - March 31, 2015	$	21,498
Schedule of Interest Income from Real Estate Loans Receivable	For the three months ended March 31, 2015 and 2014, interest income from the real estate loan receivable consisted of the following (in thousands):
		Three Months Ended March 31,
		2015				2014
	Contractual interest income	$	389			$	326
	Amortization of closing costs and origination fees	(7		)		(6		)
	Interest income from real estate loan receivable	$	382			$	320

NOTES_PAYABLE_Tables

NOTES PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2015
Notes Payable [Abstract]
Schedule of Long-term Debt Instruments	As of March 31, 2015 and December 31, 2014, the Company’s notes payable consisted of the following (dollars in thousands):
		Principal as of		Principal as of		Contractual Interest Rate as of	Effective	Payment Type	Maturity Date (2)
		31-Mar-15		31-Dec-14		March 31, 2015(1)	Interest Rate as of
							March 31, 2015 (1)
	Town Center Mortgage Loan	$	75,000	$	75,000	One-month LIBOR + 1.85%	2.87%	Interest Only	3/27/18
	Portfolio Loan (4)	130,000		160,000		One-month LIBOR + 1.75%	1.92%	Interest Only	4/1/18
	RBC Plaza Mortgage Loan	74,465		74,465		One-month LIBOR + 1.80%	2.54%	Interest Only	2/1/17
	National Office Portfolio Mortgage Loan (5)	166,893		166,893		One-month LIBOR + 1.50%	2.77%	Interest Only	7/1/17
	500 West Madison Mortgage Loan (6)	215,000		255,000		One-month LIBOR + 1.65%	3.16%	Interest Only	12/16/18
	222 Main Mortgage Loan	102,700		102,700		3.97%	3.97%	Interest Only(3)	3/1/21
	Anchor Centre Mortgage Loan	50,000		50,000		One-month LIBOR + 1.50%	1.67%	Interest Only	6/1/17
	171 17th Street Mortgage Loan (7)	79,500		79,500		One-month LIBOR + 1.45%	2.69%	Interest Only(3)	9/1/18
	Reston Square Mortgage Loan	23,840		29,800		One-month LIBOR + 1.50%	1.67%	Interest Only	2/1/18
	Ten Almaden Mortgage Loan (8)	63,540		63,540		One-month LIBOR + 1.65%	1.82%	Interest Only	1/1/18
	Towers at Emeryville Mortgage Loan (9)	142,500		142,500		One-month LIBOR + 1.75%	1.92%	Interest Only	1/15/18
	101 South Hanley Mortgage Loan (10)	34,500		34,500		One-month LIBOR + 1.55%	1.72%	Interest Only(3)	1/1/20
	3003 Washington Boulevard Mortgage Loan	89,000		89,000		One-month LIBOR + 1.55%	1.72%	Interest Only	2/1/20
	Total Notes Payable	$	1,246,938	$	1,322,898
	_____________________
	(1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2015. Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2015 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of March 31, 2015, where applicable. For further information regarding the Company's derivative instruments, see Note 7, “Derivative Instruments.”
	(2) Represents the maturity date as of March 31, 2015; subject to certain conditions, the maturity dates of certain loans may be extended beyond the dates shown.
	(3) Represents the payment type required under the loan as of March 31, 2015. Certain future monthly payments due under these loans also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes payable, see five-year maturity table below.
	(4) As of March 31, 2015, the Portfolio Loan was secured by Domain Gateway, the McEwen Building, Gateway Tech Center, the Tower on Lake Carolyn and 201 Spear Street. The face amount of the Portfolio Loan is $200.0 million, of which $130.0 million is term debt and $70.0 million is revolving debt. As of March 31, 2015, the outstanding balance under the loan was $130.0 million of term debt. As of March 31, 2015, an additional $60.3 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. The remaining $9.7 million of revolving debt was available for future disbursements upon the Company meeting certain financial coverage ratios and subject to certain conditions set forth in the loan agreement. During the term of the Portfolio Loan, the Company has an option, which may be exercised up to three times, to increase the loan amount to a maximum of $350.0 million, of which 65% would be non-revolving debt and 35% would be revolving debt, with the addition of one or more properties to secure the Portfolio Loan, subject to certain conditions contained in the loan documents.
	(5) The National Office Portfolio Mortgage Loan is secured by One Washingtonian Center, Preston Commons and Sterling Plaza.
	(6) As of March 31, 2015, $215.0 million of term debt was outstanding and $40.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents.
	(7) As of March 31, 2015, $79.5 million had been disbursed to the Company and $6.0 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents. Monthly payments are initially interest-only. Beginning October 1, 2017 and continuing on the first day of each month thereafter through the maturity date of the loan, the committed amount of $85.5 million (the “Committed Amount”) will be reduced by $69,300 per month. To the extent that, following any such reduction in the Committed Amount, the outstanding principal balance of the loan exceeds the then Committed Amount, the 171 17th Street owner will pay to the lender a principal payment in an amount sufficient to reduce the outstanding principal balance of the loan to an amount less than the then reduced Committed Amount. The remaining principal balance, all accrued and unpaid interest and any other amounts will be due at maturity.
	(8) As of March 31, 2015, $63.5 million had been disbursed to the Company and $13.1 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
	(9) As of March 31, 2015, $142.5 million had been disbursed to the Company and $32.5 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
	(10) As of March 31, 2015, $34.5 million had been disbursed to the Company and $12.7 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents.
Schedule of Maturities of Long-term Debt	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of March 31, 2015 (in thousands):
	April 1, 2015 through December 31, 2015	$	—
	2016	1,357
	2017	293,231
	2018	731,808
	2019	2,581
	Thereafter	217,961
		$	1,246,938

DERIVATIVE_INSTRUMENTS_Tables

DERIVATIVE INSTRUMENTS (Tables)	3 Months Ended
	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional and Fair Value of Interest Rate Swaps Designated as Cash Flow Hedges	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps and cap as of March 31, 2015 and December 31, 2014. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands):
		31-Mar-15						31-Dec-14						Weighted-Average	Weighted-Average Remaining Term
	Derivative Instruments	Number of Instruments		Notional Amount				Number of Instruments	Notional Amount				Reference Rate as of March 31, 2015	Fix Pay Rate	in Years
	Derivative instruments designated as hedging instruments
	Interest Rate Swaps (1)	7		$	625,130			7	$	625,130			One-month LIBOR/	1.35%	3.2
													Fixed at 0.79% - 1.68%
	Derivative instruments not designated as hedging instruments
	Interest Rate Swaps (1)	6		$	353,380			4	$	264,680			One-month LIBOR/	2.14%	2.9
													Fixed at 1.81% - 2.37%
	Interest Rate Cap (2)	1		$	353,380			—	$	—			One-month LIBOR	2.46%	1.8
													at 2.46%
	_____________________
	(1) Included in these amounts are seven forward interest rate swaps with an aggregate notional amount of $403.4 million that were not yet in effect as of March 31, 2015. These seven interest rate swaps will become effective at various times between 2015 and 2017.
	(2) On January 7, 2015, the Company entered into an interest rate cap with an unaffiliated LIBOR cap provider, for a notional amount of $353.4 million, effective from January 7, 2015 to June 30, 2016. The notional amount on the interest rate cap is reduced to $147.3 million from July 1, 2016 to January 1, 2017.
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of March 31, 2015 and December 31, 2014 (dollars in thousands):
				31-Mar-15					31-Dec-14
	Derivative Instruments	Balance Sheet Location		Number of		Fair Value			Number of		Fair Value
				Instruments					Instruments
	Derivative instruments designated as hedging instruments
	Interest Rate Swaps	Deferred financing costs, prepaid expenses and other assets, at fair value		1		$	59		2		$	431
	Interest Rate Swaps	Other liabilities, at fair value		6		$	(6,907	)	5		$	(2,621	)
	Derivative instruments not designated as hedging instruments
	Interest Rate Swaps	Other liabilities, at fair value		6		$	(4,871	)	4		$	(1,494	)
	Interest Rate Cap	Deferred financing costs, prepaid expenses and other assets, at fair value		1		$	51		—		$	—
Schedule of Derivative Instruments in Statement of Operations	The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands):
		For the Three Months Ended March 31,
		2015				2014
	Income statement related
	Derivatives designated as hedging instruments
	Amount of expense recognized on interest rate swaps (effective portion)	$	1,651			$	963
		1,651				963
	Derivatives not designated as hedging instruments
	Unrealized loss on interest rate swaps	3,376				—
	Unrealized loss on interest rate cap	124				—
		3,500				—
	Increase in interest expense as a result of derivatives	$	5,151			$	963
	Other comprehensive income related
	Unrealized losses on derivative instruments	$	6,309			$	2,194

FAIR_VALUE_DISCLOSURES_Tables

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2015
Fair Value Disclosures [Abstract]
Schedule of Face Value, Carrying Amounts and Fair Value	The following were the face values, carrying amounts and fair values of the Company’s real estate loan receivable and notes payable as of March 31, 2015 and December 31, 2014, which carrying amounts generally do not approximate the fair values (in thousands):
		March 31, 2015								December 31, 2014
		Face Value			Carrying Amount		Fair Value			Face Value		Carrying Amount		Fair Value
	Financial assets:
	Real estate loan receivable	$	21,462		$	21,498	$	21,441		$	19,968	$	20,010	$	19,914
	Financial liabilities:
	Notes payable	$	1,246,938		$	1,246,938	$	1,249,005		$	1,322,898	$	1,322,898	$	1,324,139
Schedule of Assets and Liabilities at Fair Value	During the three months ended March 31, 2015, the Company measured the following assets and liabilities at fair value (in thousands):
					Fair Value Measurements Using
		Total			Quoted Prices in Active Markets		Significant Other Observable			Significant Unobservable
					for Identical Assets (Level 1)		Inputs (Level 2)			Inputs (Level 3)
	Recurring Basis:
	Asset derivatives - interest rate swap	$	59		$	—	$	59		$	—
	Asset derivatives - interest rate cap	51			—		51			—
	Liability derivatives - interest rate swaps	(11,778		)	—		(11,778		)	—

RELATED_PARTY_TRANSACTIONS_Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three months ended March 31, 2015 and 2014, respectively, and any related amounts payable as of March 31, 2015 and December 31, 2014 (in thousands):
		Incurred				Payable as of
		Three Months Ended				March 31,		December 31,
		March 31,
		2015		2014		2015		2014
	Expensed
	Asset management fees (1)	$	4,317	$	2,459	$	5,166	$	3,465
	Reimbursement of operating expenses (2)	39		27		49		36
	Real estate acquisition fees	—		1,705		—		—
	Additional Paid-in Capital
	Selling commissions	17,084		8,202		—		—
	Dealer manager fees	8,076		3,955		—		—
	Reimbursable other offering costs (3)	903		1,122		206		53
		$	30,419	$	17,470	$	5,421	$	3,554
	_____________________
	(1) As of March 31, 2015, the Company had accrued and deferred payment of $5.2 million of asset management fees. See “Deferral of Asset Management Fees” below.
	(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $33,000 and $27,000 for the three months ended March 31, 2015 and 2014, respectively, and were the only employee costs reimbursed under the Advisory Agreement for the three months ended March 31, 2015 and 2014, respectively. The Company will not reimburse for employee costs in connection with services for which the Advisor earns acquisition or origination fees or disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
	(3) Also see “Other Offering Costs” below.

ORGANIZATION_Details

ORGANIZATION (Details) (USD $)	0 Months Ended	3 Months Ended	12 Months Ended	48 Months Ended
	Feb. 12, 2015	Mar. 31, 2015	Dec. 31, 2014	Mar. 31, 2015	Oct. 03, 2014	Feb. 04, 2010	Jan. 26, 2010
		MortgageLoans		MortgageLoans
Organizational Structure [Line Items]
Partnership interest in Operating Partnership		0.10%
Partnership interest in the Operating Partnership and is its sole limited partner		99.90%
Common stock, shares issued		149,996,485	123,426,546	149,996,485
Common stock, $.01 par value; 1,000,000,000 shares authorized, 149,996,485 and 123,426,546 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively		$1,500,000	$1,234,000	$1,500,000
Number of first mortgage loan secured by a deed of trust		1		1
Issuance of common stock, value		279,883,000	583,858,000	1,500,000,000
Shares of common stock sold under dividend reinvestment plan, value				58,500,000
Redemptions of common stock, value		1,789,000	3,637,000	8,900,000
Primary offering, termination period	90 days
Proceeds from issuance primary offering	1,300,000,000
Private Transactions [Member]
Organizational Structure [Line Items]
Common stock, shares issued					258,462
Common stock, $.01 par value; 1,000,000,000 shares authorized, 149,996,485 and 123,426,546 shares issued and outstanding as of March 31, 2015 and December 31, 2014, respectively					2,400,000
Office Properties [Member]
Organizational Structure [Line Items]
Number of real estate properties		20		20
Minimum [Member]
Organizational Structure [Line Items]
Vacancy rate for core properties		10.00%		10.00%
Percent of portfolio allocated to real estate related investments		0.00%		0.00%
Maximum [Member]
Organizational Structure [Line Items]
Vacancy rate for core properties		15.00%		15.00%
Percent of portfolio allocated to real estate related investments		20.00%		20.00%
Common Stock [Member]
Organizational Structure [Line Items]
Shares held by affiliate		20,000		20,000
Shares of common stock authorized under dividend reinvestment plan, shares						80,000,000
Issuance of common stock, shares		26,753,806	57,372,731	150,645,386
Issuance of common stock, value		268,000	574,000
Shares of common stock sold under dividend reinvestment plan, shares				6,021,016
Redemptions of common stock, shares		183,867	377,073	927,363
Redemptions of common stock, value		2,000	4,000
Common Stock [Member] | Minimum [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance						250,000
Common Stock [Member] | Maximum [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance						280,000,000
Stock offering, shares authorized for issuance, value						2,760,000,000
Common Stock [Member] | Maximum [Member] | Dividend Reinvestment Plan [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for dividend reinvestment plan, value						760,000,000
Advisor [Member]
Organizational Structure [Line Items]
Common stock, shares issued							20,000
Common stock, purchase price per share							$10

SUMMARY_OF_SIGNIFICANT_ACCOUNT2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014
Accounting Policies [Abstract]
Distributions declared per share	$0.16	$0.16
Distribution rate per share per day, declared	$0.00	$0.00

REAL_ESTATE_Narrative_Details

REAL ESTATE (Narrative) (Details)	Mar. 31, 2015
	sqft
Real Estate Properties [Line Items]
Rentable square feet	8,200,000
Percentage of portfolio occupied	89.00%
Office Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	20

REAL_ESTATE_Schedule_of_Real_E

REAL ESTATE (Schedule of Real Estate Investments) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Total Real Estate at Cost	$2,321,219	$2,307,861
Accumulated Depreciation and Amortization	-136,235	-110,781
Total real estate, net	2,184,984	2,197,080
Office [Member]
Real Estate Properties [Line Items]
Total Real Estate at Cost	2,321,219
Accumulated Depreciation and Amortization	-136,235
Total real estate, net	2,184,984
Domain Gateway [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	29-Sep-11
Total Real Estate at Cost	47,373
Accumulated Depreciation and Amortization	-7,620
Total real estate, net	39,753
Town Center [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	27-Mar-12
Total Real Estate at Cost	118,043
Accumulated Depreciation and Amortization	-16,646
Total real estate, net	101,397
McEwen Building [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	30-Apr-12
Total Real Estate at Cost	40,256
Accumulated Depreciation and Amortization	-5,972
Total real estate, net	34,284
Gateway Tech Center [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	9-May-12
Total Real Estate at Cost	28,203
Accumulated Depreciation and Amortization	-3,291
Total real estate, net	24,912
Tower on Lake Carolyn [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	21-Dec-12
Total Real Estate at Cost	50,192
Accumulated Depreciation and Amortization	-7,105
Total real estate, net	43,087
RBC Plaza [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	31-Jan-13
Total Real Estate at Cost	143,439
Accumulated Depreciation and Amortization	-13,313
Total real estate, net	130,126
One Washingtonian Center [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	19-Jun-13
Total Real Estate at Cost	89,995
Accumulated Depreciation and Amortization	-7,525
Total real estate, net	82,470
Preston Commons [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	19-Jun-13
Total Real Estate at Cost	115,845
Accumulated Depreciation and Amortization	-9,619
Total real estate, net	106,226
Sterling Plaza [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	19-Jun-13
Total Real Estate at Cost	78,893
Accumulated Depreciation and Amortization	-7,149
Total real estate, net	71,744
201 Spear Street [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	3-Dec-13
Total Real Estate at Cost	132,642
Accumulated Depreciation and Amortization	-5,679
Total real estate, net	126,963
500 West Madison [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	16-Dec-13
Total Real Estate at Cost	431,557
Accumulated Depreciation and Amortization	-28,233
Total real estate, net	403,324
222 Main [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	27-Feb-14
Total Real Estate at Cost	164,565
Accumulated Depreciation and Amortization	-6,939
Total real estate, net	157,626
Anchor Centre [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	22-May-14
Total Real Estate at Cost	91,332
Accumulated Depreciation and Amortization	-3,640
Total real estate, net	87,692
171 17th Street [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	25-Aug-14
Total Real Estate at Cost	130,441
Accumulated Depreciation and Amortization	-4,614
Total real estate, net	125,827
Rocklin Corporate Center [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	6-Nov-14
Total Real Estate at Cost	32,724
Accumulated Depreciation and Amortization	-849
Total real estate, net	31,875
Reston Square [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	3-Dec-14
Total Real Estate at Cost	45,638
Accumulated Depreciation and Amortization	-678
Total real estate, net	44,960
Ten Almaden [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	5-Dec-14
Total Real Estate at Cost	117,302
Accumulated Depreciation and Amortization	-1,603
Total real estate, net	115,699
Towers at Emeryville [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	23-Dec-14
Total Real Estate at Cost	250,292
Accumulated Depreciation and Amortization	-3,626
Total real estate, net	246,666
101 South Hanley [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	24-Dec-14
Total Real Estate at Cost	63,572
Accumulated Depreciation and Amortization	-966
Total real estate, net	62,606
3003 Washington Boulevard [Member] | Office [Member]
Real Estate Properties [Line Items]
Date Acquired	30-Dec-14
Total Real Estate at Cost	148,915
Accumulated Depreciation and Amortization	-1,168
Total real estate, net	$147,747

REAL_ESTATE_Properties_Represe

REAL ESTATE (Properties Represented More than 10% of Company’s Total Assets) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
	sqft
Real Estate Properties [Line Items]
Rentable Square Feet	8,200,000
Total Real Estate, Net	$2,184,984		$2,197,080
Occupancy	89.00%
500 West Madison [Member] | Assets, Total [Member]
Real Estate Properties [Line Items]
Rentable Square Feet	1,457,724
Total Real Estate, Net	403,324
Percentage of Total Assets	15.90%
Annualized Base Rent	$34,423	[1]
Average Annualized Base Rent per sq. ft.	25.41
Occupancy	92.90%
[1]	Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

REAL_ESTATE_Operating_Leases_N

REAL ESTATE (Operating Leases) (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
	Tenants
Operating Leased Assets [Line Items]
Deferred rent recognized	$5,083,000	$2,174,000
Deferred rent receivables	23,700,000		18,400,000
Incentive to Lessee	1,300,000		1,100,000
Number of tenants	600
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease, term	14 years 2 months 12 days
Weighted Average [Member]
Operating Leased Assets [Line Items]
Operating lease, term	5 years 2 months 12 days
Other Liabilities [Member]
Operating Leased Assets [Line Items]
Security deposit liability	$8,100,000		$7,900,000

REAL_ESTATE_Future_Minimum_Ren

REAL ESTATE (Future Minimum Rental Income) (Details) (USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Real Estate [Abstract]
April 1, 2015 through December 31, 2015	$144,702
2016	190,581
2017	175,080
2018	156,446
2019	133,201
Thereafter	430,556
Future minimum rental income	$1,230,566

REAL_ESTATE_Highes_Tenant_Indu

REAL ESTATE (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015
	Tenants
Concentration Risk [Line Items]
Number of Tenants	600
Industry - Finance [Member]
Concentration Risk [Line Items]
Number of Tenants	125
Annualized Base Rent	$47,902	[1]
Percentage of Annualized Base Rent	23.20%
[1]	Annualized base rent represents annualized contractual base rental income as of March 31, 2015, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.

REAL_ESTATE_Geographic_Concent

REAL ESTATE (Geographic Concentration Risk) (Narrative) (Details) (Assets, Total [Member])	3 Months Ended
	Mar. 31, 2015
California [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	20.00%
Illinois [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%
Texas [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	14.00%

TENANT_ORIGINATION_AND_ABSORPT2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Cost	$219,115		$221,169
Tenant Origination and Absorption Costs, Accumulated Amortization	-46,702		-38,645
Tenant Origination and Absorption Costs, Net Amount	172,413		182,524
Tenant Origination and Absorption Costs, Amortization expense	-10,110	-6,252
Above-Market Lease Assets, Cost	15,961		16,113
Above-Market Lease Assets, Accumulated Amortization	-3,280		-2,369
Above-Market Lease Assets, Net Amount	12,681		13,744
Above-Market Lease Assets, Amortization expense	-1,063	-469
Below-Market Lease Liabilities, Cost	-40,371		-41,175
Below-Market Lease Liabilities, Accumulated Amortization	10,121		8,430
Below-Market Lease Liabilities, Net Amount	-30,250		-32,745
Below-Market Lease Liabilities, Amortization expense	$2,495	$1,523

REAL_ESTATE_LOANS_RECEIVABLE_S

REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]
Book Value	$21,498		$20,010
Aberdeen First Mortgage Origination [Member] | Mortgages [Member] | Office [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Outstanding Principal Balance	21,462	[1]
Book Value	$21,498	[2]	$20,010	[2]
Contractual Interest Rate	7.50%	[3]
Annualized Effective Interest Rate	7.50%	[3]
Maturity Date	1-Jul-16
[1]	Outstanding principal balance as of March 31, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
[2]	Book value represents outstanding principal balance, adjusted for unamortized origination fees and direct origination and acquisition costs.
[3]	Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, divided by the average amortized cost basis of the investment. The contractual interest rate and annualized effective interest rate presented are as of March 31, 2015.

REAL_ESTATE_LOANS_RECEIVABLE_S1

REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Real Estate Loans Receivable [Roll Forward]
Real estate loan receivable - December 31, 2014	$20,010
Advances on real estate loan receivable	1,546
Principal repayments received on real estate loan receivable	-51
Amortization of closing costs and origination fees on real estate loans receivable	-7	-6
Real estate loan receivable - March 31, 2015	$21,498

REAL_ESTATE_LOANS_RECEIVABLE_S2

REAL ESTATE LOANS RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Receivables [Abstract]
Contractual interest income	$389	$326
Amortization of closing costs and origination fees	-7	-6
Interest income from real estate loans receivable	$382	$320

NOTES_PAYABLE_Narrative_Detail

NOTES PAYABLE (Narrative) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014
Debt Instrument [Line Items]
Interest expense	$12,415,000	$5,297,000
Interest payable, current	2,700,000		2,400,000
Amortization of deferred financing costs	825,000	481,000
Additional interest expense related to the effective portion of cash flow hedges	5,200,000	1,000,000
Interest Expense [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs	800,000	500,000
Deferred Financing Costs, Prepaid Expenses and Other Assets [Member]
Debt Instrument [Line Items]
Deferred financing costs	$10,500,000		$11,200,000

NOTES_PAYABLE_Schedule_of_Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) (USD $)	3 Months Ended
	Mar. 31, 2015		Dec. 31, 2014
Debt Instrument [Line Items]
Principal Balance	$1,246,938,000		$1,322,898,000
Portfolio Loan [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Term debt	130,000,000
500 West Madison [Member]
Debt Instrument [Line Items]
Term debt	215,000,000
500 West Madison [Member] | First Non-Revolver Tranche [Member]
Debt Instrument [Line Items]
Current borrowing capacity	40,000,000
Mortgages [Member]
Debt Instrument [Line Items]
Principal Balance	1,246,938,000		1,322,898,000
Mortgages [Member] | Town Center [Member]
Debt Instrument [Line Items]
Principal Balance	75,000,000		75,000,000
Effective Interest Rate	2.87%	[1]
Maturity Date	27-Mar-18	[2]
Mortgages [Member] | Town Center [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.85%	[1]
Mortgages [Member] | Portfolio Loan [Member]
Debt Instrument [Line Items]
Principal Balance	130,000,000	[3]	160,000,000	[3]
Effective Interest Rate	1.92%	[1],[3]
Maturity Date	1-Apr-18	[2],[3]
Mortgages [Member] | Portfolio Loan [Member] | Minimum [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.75%	[1],[3]
Mortgages [Member] | RBC Plaza [Member]
Debt Instrument [Line Items]
Principal Balance	74,465,000		74,465,000
Effective Interest Rate	2.54%	[1]
Maturity Date	1-Feb-17	[2]
Mortgages [Member] | RBC Plaza [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.80%	[1]
Mortgages [Member] | National Office Portfolio [Member]
Debt Instrument [Line Items]
Principal Balance	166,893,000	[4]	166,893,000	[4]
Effective Interest Rate	2.77%	[1],[4]
Maturity Date	1-Jul-17	[2],[4]
Mortgages [Member] | National Office Portfolio [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.50%	[1],[4]
Mortgages [Member] | 500 West Madison [Member]
Debt Instrument [Line Items]
Principal Balance	215,000,000	[5]	255,000,000	[5]
Effective Interest Rate	3.16%	[1],[5]
Maturity Date	16-Dec-18	[2],[5]
Mortgages [Member] | 500 West Madison [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.65%	[1],[5]
Mortgages [Member] | 222 Main [Member]
Debt Instrument [Line Items]
Principal Balance	102,700,000		102,700,000
Contractual Interest Rate	3.97%
Effective Interest Rate	3.97%	[1]
Maturity Date	1-Mar-21	[2]
Mortgages [Member] | Anchor Centre [Member]
Debt Instrument [Line Items]
Principal Balance	50,000,000		50,000,000
Effective Interest Rate	1.67%	[1]
Maturity Date	1-Jun-17	[2]
Mortgages [Member] | Anchor Centre [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.50%	[1]
Mortgages [Member] | 171 17th Street Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	79,500,000	[6]	79,500,000	[6]
Effective Interest Rate	2.69%	[1],[6]
Maturity Date	1-Sep-18	[2],[6]
Maximum borrowing capacity	85,500,000
Line of Credit Facility, Decrease in Periodic Payment	69,300
Loan, amount outstanding	79,500,000
Unused borrowing capacity, amount	6,000,000
Mortgages [Member] | 171 17th Street Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.45%	[1],[6]
Mortgages [Member] | Reston Square Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	23,840,000		29,800,000
Effective Interest Rate	1.67%	[1]
Maturity Date	1-Feb-18	[2]
Mortgages [Member] | Reston Square Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.50%	[1]
Mortgages [Member] | Ten Almaden Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	63,540,000	[7]	63,540,000	[7]
Effective Interest Rate	1.82%	[1],[7]
Maturity Date	1-Jan-18	[2],[7]
Loan, amount outstanding	63,500,000
Unused borrowing capacity, amount	13,100,000
Mortgages [Member] | Ten Almaden Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.65%	[1],[7]
Mortgages [Member] | Towers at Emeryville Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	142,500,000	[8]	142,500,000	[8]
Effective Interest Rate	1.92%	[1],[8]
Maturity Date	15-Jan-18	[2],[8]
Loan, amount outstanding	142,500,000
Unused borrowing capacity, amount	32,500,000
Mortgages [Member] | Towers at Emeryville Mortgage Loan [Member] | Minimum [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.75%	[1],[8]
Mortgages [Member] | 101 South Hanley Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	34,500,000	[9]	34,500,000	[9]
Effective Interest Rate	1.72%	[1],[9]
Maturity Date	1-Jan-20	[2],[9]
Loan, amount outstanding	34,500,000
Unused borrowing capacity, amount	12,700,000
Mortgages [Member] | 101 South Hanley Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.55%	[1],[9]
Mortgages [Member] | 3003 Washington Boulevard Mortgage Loan [Member]
Debt Instrument [Line Items]
Principal Balance	89,000,000		89,000,000
Effective Interest Rate	1.72%	[1]
Maturity Date	1-Feb-20	[2]
Mortgages [Member] | 3003 Washington Boulevard Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis Spread on Variable Rate	1.55%	[1]
Secured Debt [Member] | Portfolio Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	200,000,000
Loan, amount outstanding	130,000,000
Potential maximum borrowing capacity	350,000,000
Secured Debt [Member] | Portfolio Loan [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	70,000,000
Maximum borrowing capacity, percentage	35.00%
Secured Debt [Member] | Portfolio Loan [Member] | Revolving Credit Facility [Member] | Subject to Certain Conditions [Member]
Debt Instrument [Line Items]
Unused borrowing capacity, amount	60,300,000
Secured Debt [Member] | Portfolio Loan [Member] | Revolving Credit Facility [Member] | Upon Meeting Certain Financial Coverage Ratio and Subject to Certain Conditions [Member]
Debt Instrument [Line Items]
Unused borrowing capacity, amount	$9,700,000
Secured Debt [Member] | Portfolio Loan [Member] | Non-Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity, percentage	65.00%
[1]	Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2015. Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2015 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of March 31, 2015, where applicable. For further information regarding the Company's derivative instruments, see Note 7, “Derivative Instruments.”
[2]	Represents the maturity date as of March 31, 2015; subject to certain conditions, the maturity dates of certain loans may be extended beyond the dates shown.
[3]	As of March 31, 2015, the Portfolio Loan was secured by Domain Gateway, the McEwen Building, Gateway Tech Center, the Tower on Lake Carolyn and 201 Spear Street. The face amount of the Portfolio Loan is $200.0 million, of which $130.0 million is term debt and $70.0 million is revolving debt. As of March 31, 2015, the outstanding balance under the loan was $130.0 million of term debt. As of March 31, 2015, an additional $60.3 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. The remaining $9.7 million of revolving debt was available for future disbursements upon the Company meeting certain financial coverage ratios and subject to certain conditions set forth in the loan agreement. During the term of the Portfolio Loan, the Company has an option, which may be exercised up to three times, to increase the loan amount to a maximum of $350.0 million, of which 65% would be non-revolving debt and 35% would be revolving debt, with the addition of one or more properties to secure the Portfolio Loan, subject to certain conditions contained in the loan documents.
[4]	The National Office Portfolio Mortgage Loan is secured by One Washingtonian Center, Preston Commons and Sterling Plaza.
[5]	As of March 31, 2015, $215.0 million of term debt was outstanding and $40.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents.
[6]	As of March 31, 2015, $79.5 million had been disbursed to the Company and $6.0 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents. Monthly payments are initially interest-only. Beginning October 1, 2017 and continuing on the first day of each month thereafter through the maturity date of the loan, the committed amount of $85.5 million (the “Committed Amount”) will be reduced by $69,300 per month. To the extent that, following any such reduction in the Committed Amount, the outstanding principal balance of the loan exceeds the then Committed Amount, the 171 17th Street owner will pay to the lender a principal payment in an amount sufficient to reduce the outstanding principal balance of the loan to an amount less than the then reduced Committed Amount. The remaining principal balance, all accrued and unpaid interest and any other amounts will be due at maturity.
[7]	As of March 31, 2015, $63.5 million had been disbursed to the Company and $13.1 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
[8]	As of March 31, 2015, $142.5 million had been disbursed to the Company and $32.5 million remained available for future disbursements, subject to certain conditions set forth in the loan documents.
[9]	As of March 31, 2015, $34.5 million had been disbursed to the Company and $12.7 million remained available to be used for future disbursements, subject to certain conditions set forth in the loan documents.

NOTES_PAYABLE_Schedule_of_Matu

NOTES PAYABLE (Schedule of Maturities of Long-term Debt) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Notes Payable [Abstract]
April 1, 2015 through December 31, 2015	$0
2016	1,357
2017	293,231
2018	731,808
2019	2,581
Thereafter	217,961
Total notes payable	$1,246,938	$1,322,898

DERIVATIVE_INSTRUMENTS_Narrati

DERIVATIVE INSTRUMENTS (Narrative) (Details) (USD $)	3 Months Ended
In Millions, unless otherwise specified	Mar. 31, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Additional unrealized losses	$6.20

DERIVATIVE_INSTRUMENTS_Notiona

DERIVATIVE INSTRUMENTS (Notional Amount) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015		Jan. 07, 2015	Dec. 31, 2014
	Investments			Investments
Effective from January 7, 2015 to June 30, 2016 [Member]
Derivative [Line Items]
Notional Amount			$353,400
July 1, 2016 to January 1, 2017 [Member]
Derivative [Line Items]
Notional Amount			147,300
Interest Rate Swap [Member] | Exercised at Various Dates (2015-2017) [Member]
Derivative [Line Items]
Number of Instruments	7
Notional Amount	403,400
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	7	[1]		7	[1]
Notional Amount	625,130	[1]		625,130	[1]
Weighted-Average Fix Pay Rate	1.35%	[1]
Weighted-Average Remaining Term in Years	3 years 2 months 12 days	[1]
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Minimum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	0.79%	[1]
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Maximum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	1.68%	[1]
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	6	[1]		4	[1]
Notional Amount	353,380	[1]		264,680	[1]
Weighted-Average Fix Pay Rate	2.14%	[1]
Weighted-Average Remaining Term in Years	2 years 10 months 24 days	[1]
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Minimum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	1.81%	[1]
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Maximum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	2.37%	[1]
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments	1	[2]		0	[2]
Notional Amount	$353,380	[2]		$0	[2]
Weighted-Average Fix Pay Rate	2.46%	[2]
Weighted-Average Remaining Term in Years	1 year 9 months 18 days	[2]
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	2.46%	[2]
[1]	Included in these amounts are seven forward interest rate swaps with an aggregate notional amount of $403.4 million that were not yet in effect as of March 31, 2015. These seven interest rate swaps will become effective at various times between 2015 and 2017.
[2]	On January 7, 2015, the Company entered into an interest rate cap with an unaffiliated LIBOR cap provider, for a notional amount of $353.4 million, effective from January 7, 2015 to June 30, 2016. The notional amount on the interest rate cap is reduced to $147.3 million from July 1, 2016 to January 1, 2017.

DERIVATIVE_INSTRUMENTS_Balance

DERIVATIVE INSTRUMENTS (Balance Sheet) (Details) (USD $)	Mar. 31, 2015		Dec. 31, 2014
In Thousands, unless otherwise specified	Investments		Investments
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	7	[1]	7	[1]
Designated as Hedging Instrument [Member] | Deferred Financing Costs, Prepaid Expenses and Other Assets [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	1		2
Asset, Fair Value	59		431
Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	6		5
Liability, Fair Value	-6,907		-2,621
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	6	[1]	4	[1]
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments	1	[2]	0	[2]
Not Designated as Hedging Instrument [Member] | Deferred Financing Costs, Prepaid Expenses and Other Assets [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments	1		0
Asset, Fair Value	51		0
Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	6		4
Liability, Fair Value	-4,871		-1,494
[1]	Included in these amounts are seven forward interest rate swaps with an aggregate notional amount of $403.4 million that were not yet in effect as of March 31, 2015. These seven interest rate swaps will become effective at various times between 2015 and 2017.
[2]	On January 7, 2015, the Company entered into an interest rate cap with an unaffiliated LIBOR cap provider, for a notional amount of $353.4 million, effective from January 7, 2015 to June 30, 2016. The notional amount on the interest rate cap is reduced to $147.3 million from July 1, 2016 to January 1, 2017.

DERIVATIVE_INSTRUMENTS_Stateme

DERIVATIVE INSTRUMENTS (Statement of Operations) (Details) (USD $)	3 Months Ended
In Thousands, unless otherwise specified	Mar. 31, 2015	Mar. 31, 2014
Derivative [Line Items]
Unrealized loss on interest rate	$6,309	$2,194
Increase in interest expense as a result of derivatives	5,151	963
Unrealized losses on derivative instruments	6,309	2,194
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivatives designated as hedging instruments	1,651	963
Increase in interest expense as a result of derivatives	1,651	963
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
Increase in interest expense as a result of derivatives	3,500	0
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Unrealized loss on interest rate	3,376	0
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Unrealized loss on interest rate	$124	$0

FAIR_VALUE_DISCLOSURES_Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) (USD $)	Mar. 31, 2015	Dec. 31, 2014
In Thousands, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Face Value	$21,462	$19,968
Notes payable, Face Value	1,246,938	1,322,898
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	21,498	20,010
Notes payable, Value	1,246,938	1,322,898
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	21,441	19,914
Notes payable, Value	$1,249,005	$1,324,139

FAIR_VALUE_DISCLOSURES_Assets_

FAIR VALUE DISCLOSURES (Assets and Liabilities at Fair value) (Details) (Recurring Basis [Member], USD $)	Mar. 31, 2015
In Thousands, unless otherwise specified
Interest Rate Swap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	$59
Liability derivatives	-11,778
Interest Rate Swap [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	0
Liability derivatives	0
Interest Rate Swap [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	59
Liability derivatives	-11,778
Interest Rate Swap [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	0
Liability derivatives	0
Interest Rate Cap [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	51
Interest Rate Cap [Member] | Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	0
Interest Rate Cap [Member] | Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	51
Interest Rate Cap [Member] | Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets derivatives	$0

RELATED_PARTY_TRANSACTIONS_Det

RELATED PARTY TRANSACTIONS (Details) (USD $)	3 Months Ended				25 Months Ended		62 Months Ended
	Mar. 31, 2015		Mar. 31, 2014		Mar. 31, 2015		Mar. 31, 2015		Dec. 31, 2014
Related Party Transaction [Line Items]
Payable as of	$5,421,000				$5,421,000		5,421,000		$3,554,000
Administrative fees, amount paid	33,000		27,000
Other organization and offering costs					1,200,000
Other organizational offering cost related to follow on offering									1,200,000
Stockholders' percent of noncompounded return	8.00%				8.00%		8.00%
Maximum [Member]
Related Party Transaction [Line Items]
Reimbursed offering costs determination, gross offering costs, percentage							15.00%
Asset Management Fees [Member]
Related Party Transaction [Line Items]
Payable as of	5,200,000				5,200,000		5,200,000
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Incurred	30,419,000		17,470,000
Payable as of	5,421,000				5,421,000		5,421,000		3,554,000
Advisor and Dealer Manager [Member] | Expensed [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Expenses	4,317,000	[1]	2,459,000	[1]
Payable as of	5,166,000	[1]			5,166,000	[1]	5,166,000	[1]	3,465,000	[1]
Advisor and Dealer Manager [Member] | Expensed [Member] | Reimbursement of Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	39,000	[2]	27,000	[2]
Payable as of	49,000	[2]			49,000	[2]	49,000	[2]	36,000	[2]
Advisor and Dealer Manager [Member] | Expensed [Member] | Real Estate Acquisition Fees [Member]
Related Party Transaction [Line Items]
Expenses	0		1,705,000
Payable as of	0				0		0		0
Advisor and Dealer Manager [Member] | Additional Paid-in Capital [Member] | Selling commissions [Member]
Related Party Transaction [Line Items]
Incurred	17,084,000		8,202,000
Payable as of	0				0		0		0
Advisor and Dealer Manager [Member] | Additional Paid-in Capital [Member] | Dealer Manager Fees [Member]
Related Party Transaction [Line Items]
Incurred	8,076,000		3,955,000
Payable as of	0				0		0		0
Advisor and Dealer Manager [Member] | Additional Paid-in Capital [Member] | Reimbursable Other Offering Costs [Member]
Related Party Transaction [Line Items]
Incurred	903,000	[3]	1,122,000	[3]
Payable as of	$206,000	[3]			$206,000	[3]	206,000	[3]	$53,000	[3]
[1]	As of March 31, 2015, the Company had accrued and deferred payment of $5.2 million of asset management fees. See “Deferral of Asset Management Fees” below.
[2]	The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $33,000 and $27,000 for the three months ended March 31, 2015 and 2014, respectively, and were the only employee costs reimbursed under the Advisory Agreement for the three months ended March 31, 2015 and 2014, respectively. The Company will not reimburse for employee costs in connection with services for which the Advisor earns acquisition or origination fees or disposition fees (other than reimbursement of travel and communication expenses) or for the salaries or benefits the Advisor or its affiliates may pay to the Company’s executive officers.
[3]	Also see “Other Offering Costs” below.

SUBSEQUENT_EVENTS_Details

SUBSEQUENT EVENTS (Details) (USD $)	3 Months Ended		12 Months Ended	48 Months Ended	0 Months Ended
	Mar. 31, 2015	Mar. 31, 2014	Dec. 31, 2014	Mar. 31, 2015	11-May-15	1-May-15	Apr. 01, 2015	Oct. 03, 2014
Subsequent Event [Line Items]
Issuance of common stock, value	$279,883,000		$583,858,000	$1,500,000,000
Shares of common stock sold under dividend reinvestment plan, value				58,500,000
Redemptions of common stock, value	1,789,000		3,637,000	8,900,000
Distribution rate per share per day, declared	$0.00	$0.00
Dividend Declared [Member]
Subsequent Event [Line Items]
Common stock, purchase price per share	$10			$10				$10.51
Distribution rate per share annualized, declared, based on current estimated value	6.18%
Common Stock [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares	26,753,806		57,372,731	150,645,386
Issuance of common stock, value	268,000		574,000
Shares of common stock sold under dividend reinvestment plan, shares				6,021,016
Redemptions of common stock, shares	183,867		377,073	927,363
Redemptions of common stock, value	2,000		4,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Issuance of common stock, value					1,700,000,000
Shares of common stock sold under dividend reinvestment plan, value					67,200,000
Redemptions of common stock, value					9,400,000
Subsequent Event [Member] | Dividend Paid [Member]
Subsequent Event [Line Items]
Distributions paid to common stockholders						$8,300,000	$7,900,000
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Distribution rate per share per day, declared						$0.00
Distribution rate per share annualized, declared, based on purchase price						6.50%
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares					162,925,910
Shares of common stock sold under dividend reinvestment plan, shares					6,890,237
Redemptions of common stock, shares					970,415

SUBSEQUENT_EVENTS_Real_Estate_

SUBSEQUENT EVENTS (Real Estate Acquisition) (Details) (USD $)	0 Months Ended
In Millions, unless otherwise specified	1-May-15	Mar. 31, 2015
		Tenants
Subsequent Event [Line Items]
Number of tenants		600
Subsequent Event [Member] | Village Center Station [Member] | Scenario, Plan [Member]
Subsequent Event [Line Items]
Net rentable area	234,915
Area of land	3.2
Purchase price	$76.70
Earnest money deposit, amount that may be forfeited	$2
Percent of occupany	99.00%
Number of tenants	11
Weighted-average remaining lease term	4 years 10 months 24 days

SUBSEQUENT_EVENTS_Rocklin_Corp

SUBSEQUENT EVENTS (Rocklin Corporate Center Mortgage Loan) (Details) (Subsequent Event [Member], Rocklin Corporate Center Mortgage Loan [Member], Mortgages [Member], Secured Debt [Member], USD $)	0 Months Ended
	6-May-15	6-May-15
	extension
Subsequent Event [Line Items]
Maximum borrowing capacity	$22,900,000	$22,900,000
Loan, amount outstanding	19,100,000	19,100,000
Unused borrowing capacity, amount	$3,800,000	$3,800,000
Number of extensions	2
Extension period	1 year
Percent of outstanding balance under guarantees	25.00%	25.00%
One-month LIBOR [Member]
Subsequent Event [Line Items]
Basis spread on variable rate	1.50%