KBS Real Estate Investment Trust III (KBSR) 10-Q 8 Nov 16 2016 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2016	Nov. 04, 2016
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q3
Entity Registrant Name	KBS Real Estate Investment Trust III, Inc.
Entity Central Index Key	1,482,430
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		180,899,243

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Real estate:
Land	$ 395,133	$ 380,216
Buildings and improvements	2,644,956	2,479,191
Construction in progress	14,918	990
Tenant origination and absorption costs	273,414	273,758
Total real estate, cost	3,328,421	3,134,155
Less accumulated depreciation and amortization	(320,678)	(222,431)
Total real estate, net	3,007,743	2,911,724
Real estate loan receivable, net	0	21,997
Cash and cash equivalents	51,495	108,242
Rents and other receivables, net	60,494	43,035
Above-market leases, net	8,799	10,977
Prepaid expenses and other assets	46,512	37,899
Total assets	3,175,043	3,133,874
Liabilities and equity
Notes payable, net	1,750,273	1,640,654
Accounts payable and accrued liabilities	60,669	48,335
Due to affiliate	2,337	10,219
Distributions payable	9,640	9,832
Below-market leases, net	36,318	41,700
Other liabilities	57,636	40,935
Total liabilities	1,916,873	1,791,675
Commitments and contingencies (Note 10)
Redeemable common stock	75,764	55,367
KBS Real Estate Investment Trust III, Inc. 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, 180,144,054 and 177,943,238 shares issued and outstanding as of September 30, 2016 and December 31, 2015, respectively	1,801	1,779
Additional paid-in capital	1,571,064	1,571,107
Cumulative distributions and net losses	(384,087)	(281,825)
Accumulated other comprehensive loss	(6,672)	(4,229)
Total KBS Real Estate Investment Trust III, Inc. stockholders’ equity	1,182,106	1,286,832
Noncontrolling interest	300	0
Total equity	1,182,406	1,286,832
Total liabilities and equity	$ 3,175,043	$ 3,133,874

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 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 (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	180,144,054	177,943,238
Common stock, shares outstanding	180,144,054	177,943,238

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Revenues:
Rental income	$ 76,998	$ 64,963	$ 228,783	$ 174,408
Tenant reimbursements	19,258	14,999	54,849	39,019
Interest income from real estate loan receivable	5	407	831	1,190
Other operating income	5,549	3,460	15,504	9,629
Total revenues	101,810	83,829	299,967	224,246
Expenses:
Operating, maintenance and management	24,009	20,716	68,627	52,467
Real estate taxes and insurance	16,359	13,448	47,675	36,495
Asset management fees to affiliate	6,286	5,318	18,646	14,132
Real estate acquisition fees to affiliate	0	4,160	1,473	7,178
Real estate acquisition fees and expenses	5	2,686	306	3,849
General and administrative expenses	1,289	1,143	4,115	3,428
Depreciation and amortization	39,978	35,879	120,088	97,826
Interest expense	10,042	17,342	53,948	37,393
Total expenses	97,968	100,692	314,878	252,768
Other income:
Other interest income	17	25	39	166
Total other income	17	25	39	166
Net income (loss) attributable to common stockholders	$ 3,859	$ (16,838)	$ (14,872)	$ (28,356)
Net income (loss) per common share, basic and diluted (in dollars per share)	$ 0.02	$ (0.10)	$ (0.08)	$ (0.18)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	180,433,084	176,298,317	179,758,697	158,519,924

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Statement of Comprehensive Income [Abstract]
Net income (loss)	$ 3,859	$ (16,838)	$ (14,872)	$ (28,356)
Other comprehensive income (loss) :
Unrealized gains (losses) on derivative instruments	1,784	(6,014)	(6,695)	(12,367)
Reclassification adjustment realized in net income (effective portion)	1,363	1,849	4,252	5,216
Total other comprehensive income (loss)	3,147	(4,165)	(2,443)	(7,151)
Total comprehensive income (loss) attributable to common stockholders	$ 7,006	$ (21,003)	$ (17,315)	$ (35,507)

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Accumulated Other Comprehensive Income Loss [Member]	Noncontrolling Interest [Member]
Balance, shares at Dec. 31, 2014			123,426,546
Balance, value at Dec. 31, 2014	$ 933,096	$ 933,096	$ 1,234	$ 1,080,673	$ (146,621)	$ (2,190)	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(29,015)	(29,015)			(29,015)
Other comprehensive loss	(2,039)	(2,039)				(2,039)
Issuance of common stock, shares			55,602,428
Issuance of common stock, value	580,209	580,209	$ 556	579,653
Transfers to redeemable common stock	(26,038)	(26,038)		(26,038)
Redemptions of common stock, shares			(1,085,736)
Redemptions of common stock, value	(10,590)	(10,590)	$ (11)	(10,579)
Distributions declared	(106,189)	(106,189)			(106,189)
Commissions on stock sales and related dealer manager fees to affiliate	(48,947)	(48,947)		(48,947)
Other offering costs	$ (3,655)	(3,655)		(3,655)
Balance, shares at Dec. 31, 2015	177,943,238		177,943,238
Balance, value at Dec. 31, 2015	$ 1,286,832	1,286,832	$ 1,779	1,571,107	(281,825)	(4,229)	0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(14,872)	(14,872)			(14,872)
Other comprehensive loss	(2,443)	(2,443)				(2,443)
Issuance of common stock, shares			4,878,728
Issuance of common stock, value	46,543	46,543	$ 49	46,494
Transfers to redeemable common stock	(20,397)	(20,397)		(20,397)
Redemptions of common stock, shares			(2,677,912)
Redemptions of common stock, value	(26,146)	(26,146)	$ (27)	(26,119)
Distributions declared	(87,390)	(87,390)			(87,390)
Other offering costs	(21)	(21)		(21)
Noncontrolling interest contribution	$ 300						300
Balance, shares at Sep. 30, 2016	180,144,054		180,144,054
Balance, value at Sep. 30, 2016	$ 1,182,406	$ 1,182,106	$ 1,801	$ 1,571,064	$ (384,087)	$ (6,672)	$ 300

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Cash Flows from Operating Activities:
Net income (loss)	$ (14,872)	$ (28,356)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	120,088	97,826
Noncash interest income on real estate-related investment	15	20
Deferred rents	(13,943)	(13,319)
Allowance for doubtful accounts	1,023	488
Amortization of above- and below-market leases, net	(6,869)	(4,890)
Amortization of deferred financing costs	3,838	2,549
Unrealized losses on derivative instruments	14,813	9,455
Changes in operating assets and liabilities:
Rents and other receivables	(3,868)	(3,495)
Prepaid expenses and other assets	(16,391)	(13,602)
Accounts payable and accrued liabilities	6,694	10,282
Other liabilities	(477)	5,153
Due to affiliates	(7,969)	8,168
Net cash provided by operating activities	82,082	70,279
Cash Flows from Investing Activities:
Acquisitions of real estate	(141,760)	(703,299)
Improvements to real estate	(50,412)	(49,084)
Payments for construction in progress	(7,793)	(10)
Advances on real estate loan receivable	(544)	(1,738)
Purchase of interest rate cap	0	(175)
Principal repayments on real estate loan receivable	22,526	119
Net cash used in investing activities	(177,983)	(754,187)
Cash Flows from Financing Activities:
Proceeds from notes payable	139,071	359,321
Principal payments on notes payable	(31,900)	(105,960)
Payments of deferred financing costs	(1,339)	(3,775)
Proceeds from issuance of common stock	0	524,874
Payments to redeem common stock	(26,146)	(6,259)
Return of contingent consideration related to acquisition of real estate	228	0
Payments of commissions on stock sales and related dealer manager fees	0	(48,950)
Payments of other offering costs	(21)	(3,863)
Noncontrolling interest contribution	300	0
Distributions paid to common stockholders	(41,039)	(34,374)
Reimbursement of other offering costs from affiliate	0	1,173
Net cash provided by financing activities	39,154	682,187
Net decrease in cash and cash equivalents	(56,747)	(1,721)
Cash and cash equivalents, beginning of period	108,242	99,135
Cash and cash equivalents, end of period	51,495	97,414
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $64 and $0 for the nine months ended September 30, 2016 and 2015, respectively	34,625	24,753
Supplemental Disclosure of Noncash Investing and Financing Activities:
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	46,543	39,859
Increase in distributions payable	0	2,841
Increase in accrued improvements to real estate	2,869	3,927
Liabilities assumed in connection with real estate acquisition	10	838
Application of escrow deposits to acquisition of real estate	4,350	0
Increase in construction in progress payable	1,865	164
Increase in deferred financing payable	0	242
Transfer of land to construction in progress	$ 4,183	$ 0

CONSOLIDATED STATEMENTS OF CAS8

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) - USD ($)	9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015
Statement of Cash Flows [Abstract]
Interest capitalized	$ 64,000	$ 0

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 , the Advisor owned 20,000 shares of the Company’s common stock. The Company owns a diverse portfolio of real estate investments. As of September 30, 2016 , the Company owned 28 office properties and one mixed-use office/retail property and has entered into a joint venture with a developer to develop one multi-family apartment project, which is currently under construction. The Company commenced its initial public offering (the “Offering”) on October 26, 2010. Upon commencing the Offering, 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”). The Company ceased offering shares of common stock in the primary Offering on May 29, 2015 and terminated the primary Offering on July 28, 2015. The Company sold 169,006,162 shares of common stock in the primary Offering for gross proceeds of $1.7 billion . As of September 30, 2016 , the Company had also sold 15,366,574 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $ 149.6 million . Also as of September 30, 2016 , the Company had redeemed 4,507,144 shares sold in the Offering for $43.9 million . Additionally, on October 3, 2014, the Company issued 258,462 shares of common stock for $2.4 million in private transactions exempt from the registration requirements pursuant to Section 4(a)(2) of the Securities Act of 1933. The Company continues to offer shares of common stock under its dividend reinvestment plan. 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 its dividend reinvestment plan offering at any time.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2016
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, 2015 , except for the addition of an accounting policy related to construction in progress. 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, 2015 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (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 and nine and months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership and their direct and indirect wholly owned subsidiaries, and a joint venture in which the Company has a controlling interest. 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 condensed 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 the prior period. Construction in Progress Direct investments in undeveloped land or properties without leases in place at the time of acquisition are accounted for as an asset acquisition and not as a business combination. Acquisition fees and expenses are capitalized into the cost basis of an asset acquisition. Additionally, during the time in which the Company is incurring costs necessary to bring these investments to their intended use, certain costs such as legal fees, real estate taxes and insurance and financing costs are also capitalized. Once construction in progress is substantially completed, the amounts capitalized to construction in progress are transferred to land and buildings and improvements and are depreciated over their respective useful lives. Per Share Data Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders 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 and nine months ended September 30, 2016 and 2015 , respectively. Distributions declared per common share were $0.164 and $ 0.486 for the three and nine months ended September 30, 2016 , respectively. Distributions declared per common share were $0.164 and $ 0.486 for the three and nine months ended September 30, 2015 , respectively. Distributions declared per common share assumes each share was issued and outstanding each day during the three and nine months ended September 30, 2016 and 2015 , respectively. For each day that was a record date for distributions during the three and nine months ended September 30, 2016 and 2015 , distributions were calculated at a rate of $0.00178082 per share per day. Each day during the periods from January 1, 2015 through September 30, 2015 , January 1, 2016 through February 28, 2016 and March 1, 2016 through September 30, 2016 was a record date for distributions. Segments The Company has invested 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 September 30, 2016 , the Company aggregated its investments in real estate properties into one reportable business segment. Square Footage, Occupancy and Other Measures Any references to square footage, occupancy or annualized base rent are unaudited and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. 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 was to be 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. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 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 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 change the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU No. 2016-13”). ASU No. 2016-13 affects entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments in ASU No. 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU No. 2016-13 also amends the impairment model for available-for-sale securities. An entity will recognize an allowance for credit losses on available-for-sale debt securities as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. ASU No. 2016-13 also requires new disclosures. For financial assets measured at amortized cost, an entity will be required to disclose information about how it developed its allowance for credit losses, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. For financing receivables and net investments in leases measured at amortized cost, an entity will be required to further disaggregate the information it currently discloses about the credit quality of these assets by year of the asset’s origination for as many as five annual periods. For available for sale securities, an entity will be required to provide a roll-forward of the allowance for credit losses and an aging analysis for securities that are past due. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is still evaluating the impact of adopting ASU No. 2016-13 on its financial statements, but does not expect the adoption of ASU No. 2016-13 to have a material impact on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (“ASU No. 2016-15”). ASU No. 2016-15 is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The amendments in ASU No. 2016-15 provide guidance on eight specific cash flow issues, including the following that are or may be relevant to the Company: (a) Cash payments for debt prepayment or debt extinguishment costs should be classified as cash outflows for financing activities; (b) Cash payments relating to contingent consideration made soon after an acquisition’s consummation date (i.e., approximately three months or less) should be classified as cash outflows for investing activities. Payments made thereafter should be classified as cash outflows for financing activities up to the amount of the original contingent consideration liability. Payments made in excess of the amount of the original contingent consideration liability should be classified as cash outflows for operating activities; (c) Cash payments received from the settlement of insurance claims should be classified on the basis of the nature of the loss (or each component loss, if an entity receives a lump-sum settlement); (d) Relating to distributions received from equity method investments, ASU No. 2016-15 provides an accounting policy election for classifying distributions received from equity method investments. Such amounts can be classified using a (1) cumulative earnings approach, or (2) nature of distribution approach. Under the cumulative earnings approach, an investor would compare the distributions received to its cumulative equity method earnings since inception. Any distributions received up to the amount of cumulative equity earnings would be considered a return on investment and classified in operating activities. Any excess distributions would be considered a return of investment and classified in investing activities. Alternatively, an investor can choose to classify the distributions based on the nature of activities of the investee that generated the distribution. If the necessary information is subsequently not available for an investee to determine the nature of the activities, the entity should use the cumulative earnings approach for that investee and report a change in accounting principle on a retrospective basis; (e) In the absence of specific guidance, an entity should classify each separately identifiable cash source and use on the basis of the nature of the underlying cash flows. For cash flows with aspects of more than one class that cannot be separated, the classification should be based on the activity that is likely to be the predominant source or use of cash flow. ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is still evaluating the impact of adopting ASU No. 2016-15 on its financial statements, but does not expect the adoption of ASU No. 2016-15 to have a material impact on its financial statements.

REAL ESTATE

REAL ESTATE	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE As of September 30, 2016 , the Company’s real estate portfolio was composed of 28 office properties and one mixed-use office/retail property encompassing in the aggregate approximately 11.0 million rentable square feet. As of September 30, 2016 , the Company’s real estate portfolio was collectively 94% occupied. In addition, the Company has entered into a joint venture with a developer to develop one multi-family apartment project, which is currently under construction. The following table summarizes the Company’s investments in real estate as of September 30, 2016 (in thousands): Property Date Acquired City State Property Type Total Real Estate at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Domain Gateway 09/29/2011 Austin TX Office $ 47,374 $ (10,847 ) $ 36,527 Town Center 03/27/2012 Plano TX Office 118,109 (22,460 ) 95,649 McEwen Building 04/30/2012 Franklin TN Office 40,372 (9,035 ) 31,337 Gateway Tech Center 05/09/2012 Salt Lake City UT Office 25,327 (5,357 ) 19,970 Tower on Lake Carolyn 12/21/2012 Irving TX Office 52,097 (10,547 ) 41,550 RBC Plaza 01/31/2013 Minneapolis MN Office 149,931 (23,389 ) 126,542 One Washingtonian Center 06/19/2013 Gaithersburg MD Office 90,436 (11,636 ) 78,800 Preston Commons 06/19/2013 Dallas TX Office 115,535 (15,388 ) 100,147 Sterling Plaza 06/19/2013 Dallas TX Office 79,139 (9,413 ) 69,726 201 Spear Street 12/03/2013 San Francisco CA Office 135,738 (11,521 ) 124,217 500 West Madison 12/16/2013 Chicago IL Office 445,409 (57,405 ) 388,004 222 Main 02/27/2014 Salt Lake City UT Office 165,828 (16,986 ) 148,842 Anchor Centre 05/22/2014 Phoenix AZ Office 92,483 (8,852 ) 83,631 171 17th Street 08/25/2014 Atlanta GA Office 131,270 (13,331 ) 117,939 Rocklin Corporate Center 11/06/2014 Rocklin CA Office 32,484 (3,384 ) 29,100 Reston Square 12/03/2014 Reston VA Office 46,528 (4,242 ) 42,286 Ten Almaden 12/05/2014 San Jose CA Office 122,966 (10,050 ) 112,916 Towers at Emeryville 12/23/2014 Emeryville CA Office 259,985 (19,718 ) 240,267 101 South Hanley 12/24/2014 St. Louis MO Office 66,482 (5,213 ) 61,269 3003 Washington Boulevard 12/30/2014 Arlington VA Office 151,333 (8,711 ) 142,622 Village Center Station 05/20/2015 Greenwood Village CO Office 77,998 (4,976 ) 73,022 Park Place Village 06/18/2015 Leawood KS Office/Retail 128,434 (7,390 ) 121,044 201 17th Street 06/23/2015 Atlanta GA Office 103,344 (5,150 ) 98,194 Promenade I & II at Eilan 07/14/2015 San Antonio TX Office 62,650 (3,664 ) 58,986 CrossPoint at Valley Forge 08/18/2015 Wayne PA Office 90,041 (3,924 ) 86,117 515 Congress 08/31/2015 Austin TX Office 116,216 (5,783 ) 110,433 The Almaden 09/23/2015 San Jose CA Office 160,074 (6,463 ) 153,611 3001 Washington Boulevard 11/06/2015 Arlington VA Office 54,568 (1,146 ) 53,422 Carillon 01/15/2016 Charlotte NC Office 151,352 (4,697 ) 146,655 Hardware Village (1) 08/26/2016 Salt Lake City UT Apartment 14,918 — 14,918 $ 3,328,421 $ (320,678 ) $ 3,007,743 _____________________ (1) On August 26, 2016, the Company, through an indirect wholly-owned subsidiary, entered into a joint venture agreement to participate in the development and subsequent operation of a two -building multi-family apartment complex located on the developable land at Gateway Tech Center. The Company owns a 99.24% equity interest in the joint venture. See “Construction in Progress” below. As of September 30, 2016 , the following property represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage Annualized Base Rent (1) Average Annualized Base Rent per sq. ft. Occupancy 500 West Madison Chicago, IL 1,457,724 $ 388,004 12.2 % $ 35,923 $ 25.78 95.6 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2016 , 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 September 30, 2016 , the leases had remaining terms, excluding options to extend, of up to 14.0 years with a weighted-average remaining term of 4.9 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 $12.7 million and $12.2 million as of September 30, 2016 and December 31, 2015 , respectively. During the nine months ended September 30, 2016 and 2015 , the Company recognized deferred rent from tenants of $13.9 million and $13.3 million , respectively. As of September 30, 2016 and December 31, 2015 , the cumulative deferred rent balance was $54.6 million and $38.7 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $4.7 million and $3.3 million of unamortized lease incentives as of September 30, 2016 and December 31, 2015 , respectively. As of September 30, 2016 , the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands): October 1, 2016 through December 31, 2016 $ 70,446 2017 274,951 2018 260,163 2019 233,330 2020 196,554 Thereafter 605,266 $ 1,640,710 As of September 30, 2016 , the Company’s real estate properties were leased to approximately 900 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 Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 170 $ 66,669 22.4 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2016 , 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 September 30, 2016 , 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 September 30, 2016 , the Company’s net investments in real estate in California, Texas and Illinois represented 21% , 16% and 12% 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, Texas and Illinois 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. Recent Acquisition Carillon On January 15, 2016, the Company, through an indirect wholly owned subsidiary (the “Carillon Buyer”), acquired an office property containing 476,308 rentable square feet located on approximately 1.8 acres of land in Charlotte, North Carolina (“Carillon”). The purchase price (net of closing credits) of Carillon was $146.1 million plus closing costs. The seller was not affiliated with the Company or the Advisor. The Company allocated the purchase price of this property to the fair value of the assets acquired and liabilities assumed. The Company allocated $19.1 million to land, $120.7 million to building and improvements, $10.0 million to tenant origination and absorption costs and $3.7 million to below-market lease liabilities during the nine months ended September 30, 2016 . The intangible assets and liabilities acquired in connection with this acquisition have weighted-average amortization periods as of the date of acquisition of 6.3 years for tenant origination and absorption costs and 7.6 years for below-market lease liabilities. The Company recorded the acquisition as a business combination and expensed $1.8 million of acquisition costs related to this property for the nine months ended September 30, 2016 . During the nine months ended September 30, 2016 , the Company recognized $10.7 million of total revenues and $4.7 million of operating expenses from this property. Construction in Progress Hardware Village Joint Venture Agreement On May 9, 2012, the Company, through an indirect wholly owned subsidiary, acquired an office building containing 198,565 rentable square feet located on approximately 9.0 acres of land in Salt Lake City, Utah (“Gateway Tech Center”). At acquisition, a portion of the land at Gateway Tech Center was designated as multi-use with the potential for development (the “Excess Land”). On August 26, 2016, the Company, through an indirect wholly owned subsidiary (the “Managing Member”), and an unaffiliated developer (the “Developer Member”), entered into an agreement (the “Hardware Village Agreement”) to form a joint venture (the “Hardware Village Joint Venture”). The Hardware Village Joint Venture was formed to participate in the development and subsequent operation of a two building multi-family apartment complex consisting of approximately 466 units, or 422,585 rentable square feet, located on the developable land at Gateway Tech Center. The total projected cost of the development is approximately $111.7 million . The Hardware Village Joint Venture intends to fund the project with capital contributions from its members and with proceeds from a construction loan. The Hardware Village Joint Venture is currently negotiating the terms of the construction loan. The Company owns a 99.24% equity interest in the Hardware Village Joint Venture and exercises control. Therefore the Company consolidates the Hardware Village Joint Venture in its financial statements. The Managing Member shall direct, manage and control the day to day business of the Hardware Village Joint Venture but may not enter into any major decisions involving the business of the Hardware Village Joint Venture without the Developer Member’s consent. Income and losses are generally allocated among the members such that each member’s capital account is proportionately equal to the distributions that would be made to each member if the Hardware Village Joint Venture were dissolved pursuant to the provisions of the Hardware Village Agreement. The Company records the portion of the Hardware Village Joint Venture not owned by the Company as noncontrolling interest. The Company funded its initial capital contribution to the Hardware Village Joint Venture by contributing the Excess Land valued, pursuant to the Hardware Village Agreement, at $13.5 million with a historical cost basis of $4.2 million and by contributing pre-closing development expenses in the amount of $4.6 million . Under the Hardware Village Agreement, the Company may be required to contribute up to an additional $20.7 million of cash to the Hardware Village Joint Venture. The term of the Hardware Village Agreement will continue until December 31, 2066 or until dissolution of the Hardware Village Joint Venture pursuant to the provisions of the Hardware Village Agreement.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 , 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 Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities September 30, December 31, September 30, December 31, September 30, December 31, Cost $ 273,414 $ 273,758 $ 14,804 $ 15,573 $ (56,764 ) $ (56,996 ) Accumulated Amortization (96,651 ) (71,836 ) (6,005 ) (4,596 ) 20,446 15,296 Net Amount $ 176,763 $ 201,922 $ 8,799 $ 10,977 $ (36,318 ) $ (41,700 ) 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 and nine months ended September 30, 2016 and 2015 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended September 30, For the Three Months Ended September 30, For the Three Months Ended September 30, 2016 2015 2016 2015 2016 2015 Amortization $ (11,208 ) $ (11,536 ) $ (718 ) $ (823 ) $ 2,474 $ 2,798 Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Nine Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 2016 2015 Amortization $ (35,100 ) $ (32,631 ) $ (2,186 ) $ (2,935 ) $ 9,055 $ 7,825

REAL ESTATE LOAN RECEIVABLE

REAL ESTATE LOAN RECEIVABLE	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
REAL ESTATE LOAN RECEIVABLE	REAL ESTATE LOAN RECEIVABLE As of December 31, 2015 , the Company, through an indirect wholly owned subsidiary, had originated one real estate loan receivable, which was repaid during the nine months ended September 30, 2016 . The information for that real estate loan receivable as of September 30, 2016 and December 31, 2015 is set forth below (dollars in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of September 30, 2016 Book Value as of September 30, 2016 (1) Book Value as of December 31, 2015 (1) Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Aberdeen First Mortgage Origination Dallas, Texas 06/24/2011 Office Mortgage (2) (2) $ 21,997 (2) (2) (2) _____________________ (1) Book value represents outstanding principal balance, adjusted for unamortized origination fees and direct origination and acquisition costs. (2) At maturity, the borrower under the Aberdeen First Mortgage Origination paid off the entire principal balance outstanding due to the Company. The Aberdeen First Mortgage Origination matured on July 1, 2016 and bore interest at a fixed rate of 7.5% . The following summarizes the activity related to the real estate loan receivable for the nine months ended September 30, 2016 (in thousands): Real estate loan receivable - December 31, 2015 $ 21,997 Advances on real estate loan receivable 544 Principal repayments received on real estate loan receivable (22,526 ) Amortization of closing costs and origination fees on originated real estate loan receivable (15 ) Real estate loan receivable - September 30, 2016 $ — For the three and nine months ended September 30, 2016 and 2015 , interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Contractual interest income $ 5 $ 414 $ 846 $ 1,210 Amortization of closing costs and origination fees — (7 ) (15 ) (20 ) Interest income from real estate loan receivable $ 5 $ 407 $ 831 $ 1,190

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2016
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE As of September 30, 2016 and December 31, 2015 , the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of September 30, 2016 Book Value as of December 31, 2015 Contractual Interest Rate as of (1) Effective Interest Rate as of September 30, 2016 (1) Payment Type Maturity Date (2) Town Center Mortgage Loan $ 75,000 $ 75,000 One-month LIBOR + 1.85% 2.87% Interest Only 03/27/2018 Portfolio Loan (4) 127,500 127,500 One-month LIBOR + 1.90% 2.42% Interest Only 06/01/2019 RBC Plaza Mortgage Loan 75,930 75,930 One-month LIBOR + 1.80% 2.56% Interest Only 02/01/2017 National Office Portfolio Mortgage Loan (5) 169,191 169,191 One-month LIBOR + 1.50% 2.79% Interest Only 07/01/2017 500 West Madison Mortgage Loan (6) 215,000 215,000 One-month LIBOR + 1.65% 3.16% Interest Only 12/16/2018 222 Main Mortgage Loan 101,800 102,700 3.97% 3.97% Principal & Interest (3) 03/01/2021 Anchor Centre Mortgage Loan 50,000 50,000 One-month LIBOR + 1.50% 3.18% Interest Only 06/01/2017 171 17th Street Mortgage Loan 80,992 80,992 One-month LIBOR + 1.45% 2.72% Interest Only (3) 09/01/2018 Reston Square Mortgage Loan 23,840 23,840 One-month LIBOR + 1.50% 2.02% Interest Only 02/01/2018 Ten Almaden Mortgage Loan 65,059 63,540 One-month LIBOR + 1.65% 3.43% Interest Only 01/01/2018 Towers at Emeryville Mortgage Loan (7) 145,379 143,944 One-month LIBOR + 1.75% 4.00% Interest Only 01/15/2018 101 South Hanley Mortgage Loan 35,025 35,025 One-month LIBOR + 1.55% 2.07% Interest Only (3) 01/01/2020 3003 Washington Boulevard Mortgage Loan 90,378 90,378 One-month LIBOR + 1.55% 2.07% Interest Only 02/01/2020 Rocklin Corporate Center Mortgage Loan 19,889 19,889 One-month LIBOR + 1.50% 2.02% Interest Only 06/05/2018 201 17th Street Mortgage Loan 53,240 48,563 One-month LIBOR + 1.40% 1.92% Interest Only 08/01/2018 CrossPoint at Valley Forge Mortgage Loan 51,000 51,000 One-month LIBOR + 1.50% 3.33% Interest Only (3) 09/01/2022 The Almaden Mortgage Loan 76,100 76,100 One-month LIBOR + 1.75% 2.27% Interest Only 10/01/2016 (8) Promenade I & II at Eilan Mortgage Loan 37,300 37,300 One-month LIBOR + 1.75% 2.27% Interest Only 10/01/2022 515 Congress Mortgage Loan 67,500 67,500 One-month LIBOR + 1.70% 2.23% Interest Only 11/01/2020 201 Spear Street Mortgage Loan 100,000 100,000 One-month LIBOR + 1.66% 2.19% Interest Only 01/01/2019 Carillon Mortgage Loan 76,440 — One-month LIBOR + 1.65% 2.17% Interest Only 02/01/2020 3001 Washington Boulevard Mortgage Loan 24,000 — One-month LIBOR + 1.60% 2.13% Interest Only 02/01/2019 Total notes payable principal outstanding 1,760,563 1,653,392 Deferred financing costs, net (10,290 ) (12,738 ) Total Notes Payable, net $ 1,750,273 $ 1,640,654 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2016 (consisting of the contractual interest rate and the effect of interest rate swaps and caps, if applicable), using interest rate indices as of September 30, 2016 , where applicable. For further information regarding the Company's derivative instruments, see Note 7, “Derivative Instruments.” (2) Represents the maturity date as of September 30, 2016 ; 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 September 30, 2016 . 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 September 30, 2016 , the Portfolio Loan was secured by Domain Gateway, the McEwen Building, Gateway Tech Center, the Tower on Lake Carolyn, Park Place Village and Village Center Station. The face amount of the Portfolio Loan is $ 255.0 million , of which $ 127.5 million is term debt and $ 127.5 million is revolving debt. As of September 30, 2016 , the outstanding balance under the loan was $ 127.5 million of term debt. As of September 30, 2016 , an additional $126.5 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. The remaining $1.0 million of revolving debt is 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 remaining term of the Portfolio Loan, the Company has an option, which may be exercised up to two times, to increase the loan amount to a maximum of $350.0 million , of which 50% would be term debt and 50% 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 September 30, 2016 , $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 September 30, 2016 , $145.4 million had been disbursed to the Company and $29.6 million remained available for future disbursements, subject to certain conditions set forth in the loan documents. (8) Subsequent to September 30, 2016 , the maturity date of The Almaden Mortgage Loan was extended to January 1, 2017. As of September 30, 2016 , the Company’s deferred financing costs were $10.3 million , net of amortization, and were included in notes payable, net on the accompanying consolidated balance sheets. As of December 31, 2015 , the Company’s deferred financing costs were $12.8 million , net of amortization, of which $12.7 million is included in notes payable, net and $0.1 million is included in prepaid expenses and other assets on the accompanying consolidated balance sheets. During the three and nine months ended September 30, 2016 , the Company incurred $10.0 million and $53.9 million of interest expense, respectively. During the three and nine months ended September 30, 2015 , the Company incurred $17.3 million and $37.4 million of interest expense, respectively. As of September 30, 2016 and December 31, 2015 , $4.1 million and $3.4 million of interest expense were payable, respectively. Included in interest expense for the three and nine months ended September 30, 2016 was $1.3 million and $3.8 million of amortization of deferred financing costs, respectively. Included in interest expense for the three and nine months ended September 30, 2015 was $0.9 million and $2.5 million of amortization of deferred financing costs, respectively. Additionally, during the three and nine months ended September 30, 2016 , the Company capitalized $0.1 million of interest to construction in progress. As a result of unrealized gains on the Company’s derivative instruments for the three months ended September 30, 2016 , interest expense was reduced by $1.3 million . Interest expense incurred as a result of the Company’s derivative instruments for the nine months ended September 30, 2016 was $20.5 million . Interest expense incurred as a result of the Company’s derivative instruments for the three and nine months ended September 30, 2015 was $9.4 million and $14.7 million , respectively. The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of September 30, 2016 (in thousands): October 1, 2016 through December 31, 2016 $ 76,557 2017 296,994 2018 680,827 2019 254,081 2020 270,509 Thereafter 181,595 $ 1,760,563 The Company’s notes payable contain financial debt covenants. As of September 30, 2016 , the Company was in compliance with these debt covenants.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 . 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): September 30, 2016 December 31, 2015 Weighted-Average Fix Pay Rate Weighted-Average Remaining Term in Years Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Reference Rate as of September 30, 2016 Derivative instruments designated as hedging instruments Interest Rate Swaps 7 $ 625,130 7 $ 625,130 One-month LIBOR/ Fixed at 0.79% - 1.68% 1.35% 1.7 Derivative instruments not designated as hedging instruments Interest Rate Swaps (1) 12 $ 658,183 10 $ 557,743 One-month LIBOR/ 1.99% 3.6 Interest Rate Cap 1 $ 147,340 1 $ 353,380 One-month LIBOR 2.46% 0.3 _____________________ (1) Included in these amounts are nine forward interest rate swaps with an aggregate notional amount of $401.1 million that were not yet in effect as of September 30, 2016 . These nine interest rate swaps will become effective at various times during the remainder of 2016 through 2018. 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 September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, 2016 December 31, 2015 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Fair Value Derivative instruments designated as hedging instruments Interest Rate Swaps Prepaid expenses and other assets, at fair value — $ — 1 $ 75 Interest Rate Swaps Other liabilities, at fair value 7 $ (6,672 ) 6 $ (4,304 ) Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 12 $ (22,210 ) 10 $ (7,400 ) Interest Rate Cap Prepaid expenses and other assets, at fair value 1 $ — 1 $ 3 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 equity. Amounts in other comprehensive income (loss) will be reclassified into earnings in the periods in which earnings are affected by the hedged cash flows. 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 September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Income statement related Derivatives designated as hedging instruments Amount of expense recognized on interest rate swaps (effective portion) $ 1,363 $ 1,849 $ 4,252 $ 5,216 1,363 1,849 4,252 5,216 Derivatives not designated as hedging instruments Realized loss recognized on interest rate swaps 1,040 70 1,398 70 Unrealized (gain) loss on interest rate swaps (3,745 ) 7,443 14,810 9,286 Unrealized loss on interest rate cap — 16 3 169 (2,705 ) 7,529 16,211 9,525 (Decrease) increase in interest expense as a result of derivatives $ (1,342 ) $ 9,378 $ 20,463 $ 14,741 Other comprehensive income related Unrealized (gain) losses on derivative instruments $ (1,784 ) $ 6,014 $ 6,695 $ 12,367 During the three and nine months ended September 30, 2016 and 2015, there was no ineffective portion related to the change in fair value of the derivative instruments designated as 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 $4.1 million as of September 30, 2016 and was included in accumulated other comprehensive income (loss).

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2016
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 non-financial and financial assets 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. The fair value of interest rate caps (floors) are determined using the market standard methodology of discounting the future expected cash payments (receipts) which would occur if variable interest rates rise above (below) the strike rate of the caps (floors). The variable interest rates used in the calculation of projected payments (receipts) on the cap (floors) are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. 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 September 30, 2016 and December 31, 2015 , which carrying amounts generally do not approximate the fair values (in thousands): September 30, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loan receivable (1) $ — $ — $ — $ 21,982 $ 21,997 $ 21,884 Financial liabilities: Notes payable $ 1,760,563 $ 1,750,273 $ 1,751,825 $ 1,653,392 $ 1,640,654 $ 1,654,788 _____________________ (1) At maturity, the borrower under the Aberdeen First Mortgage Origination paid off the entire principal balance outstanding due to the Company. The Aberdeen First Mortgage Origination matured on July 1, 2016 and bore interest at a fixed rate of 7.5% . For further information regarding the Company's loan receivable, see Note 5, “Real Estate Loan Receivable.” 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. Low levels of transaction volume for certain financial instruments have 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. As of September 30, 2016 , the Company measured the following liabilities at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Liability derivatives - interest rate swaps $ (28,882 ) $ — $ (28,882 ) $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2016
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 entitled the Advisor and 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 entitle the Advisor and the Dealer Manager to 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., KBS Strategic Opportunity REIT II, Inc. and 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. In June 2015, KBS Growth & Income REIT, Inc. was added to the insurance program at terms similar to those described above. The insurance program was renewed and is effective through June 30, 2017. During the three and nine months ended September 30, 2016 and 2015 , 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., KBS Strategic Opportunity REIT II, Inc. and KBS Growth & Income REIT, Inc. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2016 and 2015, respectively, and any related amounts payable as of September 30, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, 2016 2015 2016 2015 2016 2015 Expensed Asset management fees (1) $ 6,286 $ 5,318 $ 18,646 $ 14,132 $ 2,055 $ 10,075 Reimbursement of operating expenses (2) 68 64 261 143 195 144 Real estate acquisition fees — 4,160 1,473 7,178 — — Additional Paid-in Capital Selling commissions — 789 — 33,202 — — Dealer manager fees — 389 — 15,748 — — Reimbursable other offering costs — 630 — 2,467 — — Capitalized Acquisition fee on development project 28 — 87 — 87 — $ 6,382 $ 11,350 $ 20,467 $ 72,870 $ 2,337 $ 10,219 _____________________ (1) See “Deferral of Asset Management Fees” below. (2) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cybersecurity related expenses incurred by the Advisor 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 $51,000 and $145,000 for the three and nine months ended September 30, 2016 , respectively, and $45,000 and $114,000 for the three and nine months ended September 30, 2015 , respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the three and nine months ended September 30, 2016 and 2015, 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company's direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company. During the nine months ended September 30, 2016, the Advisor reimbursed the Company $0.2 million for a property insurance rebate and $0.1 million for legal and professional fees. 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 nine months ended September 30, 2016 , the Advisor incurred $0.1 million for the costs of the supplemental coverage obtained by the Company. During the nine months ended September 30, 2015, the Advisor incurred $0.1 million for the costs of the supplemental coverage obtained by the Company. 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 December 31, 2015 , the Company had accrued and deferred payment of $10.1 million of asset management fees under the Advisory Agreement, as the Company believed the payment of this amount to the Advisor was probable. As of September 30, 2016 , the Company had reimbursed the Advisor for all accrued and deferred asset management fees in accordance with the terms noted above. As of September 30, 2016 , the Company had $2.1 million of asset management fees payable related to asset management fees incurred for the month of September 2016, which were subsequently paid in November 2016. Lease to Affiliate On May 29, 2015, the indirect wholly owned subsidiary of the Company that owns 3003 Washington Boulevard entered into a lease with an affiliate of the Advisor for 5,046 rentable square feet, or approximately 2.4% of the total rentable square feet, at 3003 Washington Boulevard. The lease commenced on October 1, 2015 and terminates on August 31, 2019. The annualized base rent, which represents annualized contractual base rental income as of September 30, 2016 , adjusted to straight-line any contractual tenant concessions (including free rent) and rent increases from the lease’s inception through the balance of the lease term, for this lease is approximately $234,000 , and the average annual rental rate (net of rental abatements) over the lease term is $46.38 per square foot. During the three and nine months ended September 30, 2016 , the Company recognized $59,000 and $176,000 of rental income related to this lease, respectively. Prior to their approval of the lease, the Company’s conflicts committee and board of directors determined the lease to be fair and reasonable to the Company.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Economic Dependency The Company is dependent on the Advisor for certain services that are essential to the Company, including 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 is 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 September 30, 2016 .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2016
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Distributions Paid On October 3, 2016, the Company paid distributions of $9.6 million , which related to distributions declared for daily record dates for each day in the period from September 1, 2016 through September 30, 2016. On November 1, 2016, the Company paid distributions of $10.0 million , which related to distributions declared for daily record dates for each day in the period from October 1, 2016 through October 31, 2016. Distributions Declared On October 11, 2016, the Company’s board of directors declared distributions based on daily record dates for the period from November 1, 2016 through November 30, 2016, which the Company expects to pay in December 2016. On November 7, 2016, the Company’s board of directors declared distributions based on daily record dates for the period from December 1, 2016 through December 31, 2016, which the Company expects to pay in January 2017, and distributions based on daily record dates for the period from January 1, 2017 through January 31, 2017, which the Company expects to pay in February 2017. 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 6.47% annualized rate based on the Company's December 8, 2015 estimated value per share of $10.04 .

SUMMARY OF SIGNIFICANT ACCOUN20

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2016
Accounting Policies [Abstract]
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 and nine and months ended September 30, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership and their direct and indirect wholly owned subsidiaries, and a joint venture in which the Company has a controlling interest. 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 condensed 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 the prior period.
Construction in Progress	Direct investments in undeveloped land or properties without leases in place at the time of acquisition are accounted for as an asset acquisition and not as a business combination. Acquisition fees and expenses are capitalized into the cost basis of an asset acquisition. Additionally, during the time in which the Company is incurring costs necessary to bring these investments to their intended use, certain costs such as legal fees, real estate taxes and insurance and financing costs are also capitalized. Once construction in progress is substantially completed, the amounts capitalized to construction in progress are transferred to land and buildings and improvements and are depreciated over their respective useful lives.
Per Share Data	Basic net income (loss) per share of common stock is calculated by dividing net income (loss) attributable to common stockholders 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 and nine months ended September 30, 2016 and 2015 , respectively. Distributions declared per common share were $0.164 and $ 0.486 for the three and nine months ended September 30, 2016 , respectively. Distributions declared per common share were $0.164 and $ 0.486 for the three and nine months ended September 30, 2015 , respectively. Distributions declared per common share assumes each share was issued and outstanding each day during the three and nine months ended September 30, 2016 and 2015 , respectively. For each day that was a record date for distributions during the three and nine months ended September 30, 2016 and 2015 , distributions were calculated at a rate of $0.00178082 per share per day. Each day during the periods from January 1, 2015 through September 30, 2015 , January 1, 2016 through February 28, 2016 and March 1, 2016 through September 30, 2016 was a record date for distributions.
Segments	The Company has invested 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 September 30, 2016 , the Company aggregated its investments in real estate properties into one reportable business segment.
Square Footage, Occupancy and Other Measures	Any references to square footage, occupancy or annualized base rent are unaudited and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board.
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 was to be 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. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 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 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 change the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326) (“ASU No. 2016-13”). ASU No. 2016-13 affects entities holding financial assets and net investments in leases that are not accounted for at fair value through net income. The amendments in ASU No. 2016-13 require a financial asset (or a group of financial assets) measured at amortized cost basis to be presented at the net amount expected to be collected. The allowance for credit losses is a valuation account that is deducted from the amortized cost basis of the financial asset(s) to present the net carrying value at the amount expected to be collected on the financial asset. ASU No. 2016-13 also amends the impairment model for available-for-sale securities. An entity will recognize an allowance for credit losses on available-for-sale debt securities as a contra-account to the amortized cost basis rather than as a direct reduction of the amortized cost basis of the investment, as is currently required. ASU No. 2016-13 also requires new disclosures. For financial assets measured at amortized cost, an entity will be required to disclose information about how it developed its allowance for credit losses, including changes in the factors that influenced management’s estimate of expected credit losses and the reasons for those changes. For financing receivables and net investments in leases measured at amortized cost, an entity will be required to further disaggregate the information it currently discloses about the credit quality of these assets by year of the asset’s origination for as many as five annual periods. For available for sale securities, an entity will be required to provide a roll-forward of the allowance for credit losses and an aging analysis for securities that are past due. ASU No. 2016-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Early adoption is permitted for fiscal years beginning after December 15, 2018, including interim periods within those fiscal years. The Company is still evaluating the impact of adopting ASU No. 2016-13 on its financial statements, but does not expect the adoption of ASU No. 2016-13 to have a material impact on its financial statements. In August 2016, the FASB issued ASU No. 2016-15, Statement of Cash Flows (Topic 230), Classification of Certain Cash Receipts and Cash Payments (“ASU No. 2016-15”). ASU No. 2016-15 is intended to reduce diversity in practice in how certain transactions are classified in the statement of cash flows. The amendments in ASU No. 2016-15 provide guidance on eight specific cash flow issues, including the following that are or may be relevant to the Company: (a) Cash payments for debt prepayment or debt extinguishment costs should be classified as cash outflows for financing activities; (b) Cash payments relating to contingent consideration made soon after an acquisition’s consummation date (i.e., approximately three months or less) should be classified as cash outflows for investing activities. Payments made thereafter should be classified as cash outflows for financing activities up to the amount of the original contingent consideration liability. Payments made in excess of the amount of the original contingent consideration liability should be classified as cash outflows for operating activities; (c) Cash payments received from the settlement of insurance claims should be classified on the basis of the nature of the loss (or each component loss, if an entity receives a lump-sum settlement); (d) Relating to distributions received from equity method investments, ASU No. 2016-15 provides an accounting policy election for classifying distributions received from equity method investments. Such amounts can be classified using a (1) cumulative earnings approach, or (2) nature of distribution approach. Under the cumulative earnings approach, an investor would compare the distributions received to its cumulative equity method earnings since inception. Any distributions received up to the amount of cumulative equity earnings would be considered a return on investment and classified in operating activities. Any excess distributions would be considered a return of investment and classified in investing activities. Alternatively, an investor can choose to classify the distributions based on the nature of activities of the investee that generated the distribution. If the necessary information is subsequently not available for an investee to determine the nature of the activities, the entity should use the cumulative earnings approach for that investee and report a change in accounting principle on a retrospective basis; (e) In the absence of specific guidance, an entity should classify each separately identifiable cash source and use on the basis of the nature of the underlying cash flows. For cash flows with aspects of more than one class that cannot be separated, the classification should be based on the activity that is likely to be the predominant source or use of cash flow. ASU No. 2016-15 is effective for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Early adoption is permitted, including adoption in an interim period. The Company is still evaluating the impact of adopting ASU No. 2016-15 on its financial statements, but does not expect the adoption of ASU No. 2016-15 to have a material impact on its financial statements.

REAL ESTATE (Tables)

REAL ESTATE (Tables)	9 Months Ended
	Sep. 30, 2016
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s investments in real estate as of September 30, 2016 (in thousands): Property Date Acquired City State Property Type Total Real Estate at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Domain Gateway 09/29/2011 Austin TX Office $ 47,374 $ (10,847 ) $ 36,527 Town Center 03/27/2012 Plano TX Office 118,109 (22,460 ) 95,649 McEwen Building 04/30/2012 Franklin TN Office 40,372 (9,035 ) 31,337 Gateway Tech Center 05/09/2012 Salt Lake City UT Office 25,327 (5,357 ) 19,970 Tower on Lake Carolyn 12/21/2012 Irving TX Office 52,097 (10,547 ) 41,550 RBC Plaza 01/31/2013 Minneapolis MN Office 149,931 (23,389 ) 126,542 One Washingtonian Center 06/19/2013 Gaithersburg MD Office 90,436 (11,636 ) 78,800 Preston Commons 06/19/2013 Dallas TX Office 115,535 (15,388 ) 100,147 Sterling Plaza 06/19/2013 Dallas TX Office 79,139 (9,413 ) 69,726 201 Spear Street 12/03/2013 San Francisco CA Office 135,738 (11,521 ) 124,217 500 West Madison 12/16/2013 Chicago IL Office 445,409 (57,405 ) 388,004 222 Main 02/27/2014 Salt Lake City UT Office 165,828 (16,986 ) 148,842 Anchor Centre 05/22/2014 Phoenix AZ Office 92,483 (8,852 ) 83,631 171 17th Street 08/25/2014 Atlanta GA Office 131,270 (13,331 ) 117,939 Rocklin Corporate Center 11/06/2014 Rocklin CA Office 32,484 (3,384 ) 29,100 Reston Square 12/03/2014 Reston VA Office 46,528 (4,242 ) 42,286 Ten Almaden 12/05/2014 San Jose CA Office 122,966 (10,050 ) 112,916 Towers at Emeryville 12/23/2014 Emeryville CA Office 259,985 (19,718 ) 240,267 101 South Hanley 12/24/2014 St. Louis MO Office 66,482 (5,213 ) 61,269 3003 Washington Boulevard 12/30/2014 Arlington VA Office 151,333 (8,711 ) 142,622 Village Center Station 05/20/2015 Greenwood Village CO Office 77,998 (4,976 ) 73,022 Park Place Village 06/18/2015 Leawood KS Office/Retail 128,434 (7,390 ) 121,044 201 17th Street 06/23/2015 Atlanta GA Office 103,344 (5,150 ) 98,194 Promenade I & II at Eilan 07/14/2015 San Antonio TX Office 62,650 (3,664 ) 58,986 CrossPoint at Valley Forge 08/18/2015 Wayne PA Office 90,041 (3,924 ) 86,117 515 Congress 08/31/2015 Austin TX Office 116,216 (5,783 ) 110,433 The Almaden 09/23/2015 San Jose CA Office 160,074 (6,463 ) 153,611 3001 Washington Boulevard 11/06/2015 Arlington VA Office 54,568 (1,146 ) 53,422 Carillon 01/15/2016 Charlotte NC Office 151,352 (4,697 ) 146,655 Hardware Village (1) 08/26/2016 Salt Lake City UT Apartment 14,918 — 14,918 $ 3,328,421 $ (320,678 ) $ 3,007,743 _____________________ (1) On August 26, 2016, the Company, through an indirect wholly-owned subsidiary, entered into a joint venture agreement to participate in the development and subsequent operation of a two -building multi-family apartment complex located on the developable land at Gateway Tech Center. The Company owns a 99.24% equity interest in the joint venture. See “Construction in Progress” below.
Schedules of Concentration of Risk, by Risk Factor	As of September 30, 2016 , the Company’s real estate properties were leased to approximately 900 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 Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 170 $ 66,669 22.4 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2016 , 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 September 30, 2016 , the following property represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage Annualized Base Rent (1) Average Annualized Base Rent per sq. ft. Occupancy 500 West Madison Chicago, IL 1,457,724 $ 388,004 12.2 % $ 35,923 $ 25.78 95.6 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2016 , 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.
Schedule of Future Minimum Rental Income for Company's Properties	As of September 30, 2016 , the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands): October 1, 2016 through December 31, 2016 $ 70,446 2017 274,951 2018 260,163 2019 233,330 2020 196,554 Thereafter 605,266 $ 1,640,710

TENANT ORIGINATION AND ABSORP22

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 , 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 Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities September 30, December 31, September 30, December 31, September 30, December 31, Cost $ 273,414 $ 273,758 $ 14,804 $ 15,573 $ (56,764 ) $ (56,996 ) Accumulated Amortization (96,651 ) (71,836 ) (6,005 ) (4,596 ) 20,446 15,296 Net Amount $ 176,763 $ 201,922 $ 8,799 $ 10,977 $ (36,318 ) $ (41,700 )
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 and nine months ended September 30, 2016 and 2015 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended September 30, For the Three Months Ended September 30, For the Three Months Ended September 30, 2016 2015 2016 2015 2016 2015 Amortization $ (11,208 ) $ (11,536 ) $ (718 ) $ (823 ) $ 2,474 $ 2,798 Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Nine Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 2016 2015 Amortization $ (35,100 ) $ (32,631 ) $ (2,186 ) $ (2,935 ) $ 9,055 $ 7,825

REAL ESTATE LOAN RECEIVABLE (Ta

REAL ESTATE LOAN RECEIVABLE (Tables)	9 Months Ended
	Sep. 30, 2016
Receivables [Abstract]
Schedule of Real Estate Loans Receivable	As of December 31, 2015 , the Company, through an indirect wholly owned subsidiary, had originated one real estate loan receivable, which was repaid during the nine months ended September 30, 2016 . The information for that real estate loan receivable as of September 30, 2016 and December 31, 2015 is set forth below (dollars in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of September 30, 2016 Book Value as of September 30, 2016 (1) Book Value as of December 31, 2015 (1) Contractual Interest Rate Annualized Effective Interest Rate Maturity Date Aberdeen First Mortgage Origination Dallas, Texas 06/24/2011 Office Mortgage (2) (2) $ 21,997 (2) (2) (2) _____________________ (1) Book value represents outstanding principal balance, adjusted for unamortized origination fees and direct origination and acquisition costs. (2) At maturity, the borrower under the Aberdeen First Mortgage Origination paid off the entire principal balance outstanding due to the Company. The Aberdeen First Mortgage Origination matured on July 1, 2016 and bore interest at a fixed rate of 7.5% .
Schedule of Activity Related to Real Estate Loans Receivable	The following summarizes the activity related to the real estate loan receivable for the nine months ended September 30, 2016 (in thousands): Real estate loan receivable - December 31, 2015 $ 21,997 Advances on real estate loan receivable 544 Principal repayments received on real estate loan receivable (22,526 ) Amortization of closing costs and origination fees on originated real estate loan receivable (15 ) Real estate loan receivable - September 30, 2016 $ —
Schedule of Interest Income from Real Estate Loans Receivable	For the three and nine months ended September 30, 2016 and 2015 , interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2016 2015 2016 2015 Contractual interest income $ 5 $ 414 $ 846 $ 1,210 Amortization of closing costs and origination fees — (7 ) (15 ) (20 ) Interest income from real estate loan receivable $ 5 $ 407 $ 831 $ 1,190

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2016
Notes Payable [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2016 and December 31, 2015 , the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of September 30, 2016 Book Value as of December 31, 2015 Contractual Interest Rate as of (1) Effective Interest Rate as of September 30, 2016 (1) Payment Type Maturity Date (2) Town Center Mortgage Loan $ 75,000 $ 75,000 One-month LIBOR + 1.85% 2.87% Interest Only 03/27/2018 Portfolio Loan (4) 127,500 127,500 One-month LIBOR + 1.90% 2.42% Interest Only 06/01/2019 RBC Plaza Mortgage Loan 75,930 75,930 One-month LIBOR + 1.80% 2.56% Interest Only 02/01/2017 National Office Portfolio Mortgage Loan (5) 169,191 169,191 One-month LIBOR + 1.50% 2.79% Interest Only 07/01/2017 500 West Madison Mortgage Loan (6) 215,000 215,000 One-month LIBOR + 1.65% 3.16% Interest Only 12/16/2018 222 Main Mortgage Loan 101,800 102,700 3.97% 3.97% Principal & Interest (3) 03/01/2021 Anchor Centre Mortgage Loan 50,000 50,000 One-month LIBOR + 1.50% 3.18% Interest Only 06/01/2017 171 17th Street Mortgage Loan 80,992 80,992 One-month LIBOR + 1.45% 2.72% Interest Only (3) 09/01/2018 Reston Square Mortgage Loan 23,840 23,840 One-month LIBOR + 1.50% 2.02% Interest Only 02/01/2018 Ten Almaden Mortgage Loan 65,059 63,540 One-month LIBOR + 1.65% 3.43% Interest Only 01/01/2018 Towers at Emeryville Mortgage Loan (7) 145,379 143,944 One-month LIBOR + 1.75% 4.00% Interest Only 01/15/2018 101 South Hanley Mortgage Loan 35,025 35,025 One-month LIBOR + 1.55% 2.07% Interest Only (3) 01/01/2020 3003 Washington Boulevard Mortgage Loan 90,378 90,378 One-month LIBOR + 1.55% 2.07% Interest Only 02/01/2020 Rocklin Corporate Center Mortgage Loan 19,889 19,889 One-month LIBOR + 1.50% 2.02% Interest Only 06/05/2018 201 17th Street Mortgage Loan 53,240 48,563 One-month LIBOR + 1.40% 1.92% Interest Only 08/01/2018 CrossPoint at Valley Forge Mortgage Loan 51,000 51,000 One-month LIBOR + 1.50% 3.33% Interest Only (3) 09/01/2022 The Almaden Mortgage Loan 76,100 76,100 One-month LIBOR + 1.75% 2.27% Interest Only 10/01/2016 (8) Promenade I & II at Eilan Mortgage Loan 37,300 37,300 One-month LIBOR + 1.75% 2.27% Interest Only 10/01/2022 515 Congress Mortgage Loan 67,500 67,500 One-month LIBOR + 1.70% 2.23% Interest Only 11/01/2020 201 Spear Street Mortgage Loan 100,000 100,000 One-month LIBOR + 1.66% 2.19% Interest Only 01/01/2019 Carillon Mortgage Loan 76,440 — One-month LIBOR + 1.65% 2.17% Interest Only 02/01/2020 3001 Washington Boulevard Mortgage Loan 24,000 — One-month LIBOR + 1.60% 2.13% Interest Only 02/01/2019 Total notes payable principal outstanding 1,760,563 1,653,392 Deferred financing costs, net (10,290 ) (12,738 ) Total Notes Payable, net $ 1,750,273 $ 1,640,654 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2016 (consisting of the contractual interest rate and the effect of interest rate swaps and caps, if applicable), using interest rate indices as of September 30, 2016 , where applicable. For further information regarding the Company's derivative instruments, see Note 7, “Derivative Instruments.” (2) Represents the maturity date as of September 30, 2016 ; 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 September 30, 2016 . 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 September 30, 2016 , the Portfolio Loan was secured by Domain Gateway, the McEwen Building, Gateway Tech Center, the Tower on Lake Carolyn, Park Place Village and Village Center Station. The face amount of the Portfolio Loan is $ 255.0 million , of which $ 127.5 million is term debt and $ 127.5 million is revolving debt. As of September 30, 2016 , the outstanding balance under the loan was $ 127.5 million of term debt. As of September 30, 2016 , an additional $126.5 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. The remaining $1.0 million of revolving debt is 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 remaining term of the Portfolio Loan, the Company has an option, which may be exercised up to two times, to increase the loan amount to a maximum of $350.0 million , of which 50% would be term debt and 50% 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 September 30, 2016 , $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 September 30, 2016 , $145.4 million had been disbursed to the Company and $29.6 million remained available for future disbursements, subject to certain conditions set forth in the loan documents. (8) Subsequent to September 30, 2016 , the maturity date of The Almaden Mortgage Loan was extended to January 1, 2017.
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 September 30, 2016 (in thousands): October 1, 2016 through December 31, 2016 $ 76,557 2017 296,994 2018 680,827 2019 254,081 2020 270,509 Thereafter 181,595 $ 1,760,563

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 . 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): September 30, 2016 December 31, 2015 Weighted-Average Fix Pay Rate Weighted-Average Remaining Term in Years Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Reference Rate as of September 30, 2016 Derivative instruments designated as hedging instruments Interest Rate Swaps 7 $ 625,130 7 $ 625,130 One-month LIBOR/ Fixed at 0.79% - 1.68% 1.35% 1.7 Derivative instruments not designated as hedging instruments Interest Rate Swaps (1) 12 $ 658,183 10 $ 557,743 One-month LIBOR/ 1.99% 3.6 Interest Rate Cap 1 $ 147,340 1 $ 353,380 One-month LIBOR 2.46% 0.3 _____________________ (1) Included in these amounts are nine forward interest rate swaps with an aggregate notional amount of $401.1 million that were not yet in effect as of September 30, 2016 . These nine interest rate swaps will become effective at various times during the remainder of 2016 through 2018.
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 September 30, 2016 and December 31, 2015 (dollars in thousands): September 30, 2016 December 31, 2015 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Fair Value Derivative instruments designated as hedging instruments Interest Rate Swaps Prepaid expenses and other assets, at fair value — $ — 1 $ 75 Interest Rate Swaps Other liabilities, at fair value 7 $ (6,672 ) 6 $ (4,304 ) Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 12 $ (22,210 ) 10 $ (7,400 ) Interest Rate Cap Prepaid expenses and other assets, at fair value 1 $ — 1 $ 3
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 September 30, For the Nine Months Ended September 30, 2016 2015 2016 2015 Income statement related Derivatives designated as hedging instruments Amount of expense recognized on interest rate swaps (effective portion) $ 1,363 $ 1,849 $ 4,252 $ 5,216 1,363 1,849 4,252 5,216 Derivatives not designated as hedging instruments Realized loss recognized on interest rate swaps 1,040 70 1,398 70 Unrealized (gain) loss on interest rate swaps (3,745 ) 7,443 14,810 9,286 Unrealized loss on interest rate cap — 16 3 169 (2,705 ) 7,529 16,211 9,525 (Decrease) increase in interest expense as a result of derivatives $ (1,342 ) $ 9,378 $ 20,463 $ 14,741 Other comprehensive income related Unrealized (gain) losses on derivative instruments $ (1,784 ) $ 6,014 $ 6,695 $ 12,367

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2016
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 September 30, 2016 and December 31, 2015 , which carrying amounts generally do not approximate the fair values (in thousands): September 30, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial assets: Real estate loan receivable (1) $ — $ — $ — $ 21,982 $ 21,997 $ 21,884 Financial liabilities: Notes payable $ 1,760,563 $ 1,750,273 $ 1,751,825 $ 1,653,392 $ 1,640,654 $ 1,654,788 _____________________ (1) At maturity, the borrower under the Aberdeen First Mortgage Origination paid off the entire principal balance outstanding due to the Company. The Aberdeen First Mortgage Origination matured on July 1, 2016 and bore interest at a fixed rate of 7.5% . For further information regarding the Company's loan receivable, see Note 5, “Real Estate Loan Receivable.”
Schedule of Assets and Liabilities at Fair Value	As of September 30, 2016 , the Company measured the following liabilities at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Liability derivatives - interest rate swaps $ (28,882 ) $ — $ (28,882 ) $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2016
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 and nine months ended September 30, 2016 and 2015, respectively, and any related amounts payable as of September 30, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended September 30, Nine Months Ended September 30, September 30, December 31, 2016 2015 2016 2015 2016 2015 Expensed Asset management fees (1) $ 6,286 $ 5,318 $ 18,646 $ 14,132 $ 2,055 $ 10,075 Reimbursement of operating expenses (2) 68 64 261 143 195 144 Real estate acquisition fees — 4,160 1,473 7,178 — — Additional Paid-in Capital Selling commissions — 789 — 33,202 — — Dealer manager fees — 389 — 15,748 — — Reimbursable other offering costs — 630 — 2,467 — — Capitalized Acquisition fee on development project 28 — 87 — 87 — $ 6,382 $ 11,350 $ 20,467 $ 72,870 $ 2,337 $ 10,219 _____________________ (1) See “Deferral of Asset Management Fees” below. (2) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cybersecurity related expenses incurred by the Advisor 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 $51,000 and $145,000 for the three and nine months ended September 30, 2016 , respectively, and $45,000 and $114,000 for the three and nine months ended September 30, 2015 , respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the three and nine months ended September 30, 2016 and 2015, 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. In addition to the amounts above, the Company reimburses the Advisor for certain of the Company's direct costs incurred from third parties that were initially paid by the Advisor on behalf of the Company.

ORGANIZATION (Details)

ORGANIZATION (Details) $ / shares in Units, $ in Thousands	Oct. 03, 2014USD ($)shares	Sep. 30, 2016USD ($)propertyshares	Dec. 31, 2015USD ($)shares	Sep. 30, 2015USD ($)shares	Sep. 30, 2016USD ($)propertyshares	Jan. 26, 2010$ / sharesshares
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		180,144,054	177,943,238		180,144,054
Issuance of common stock, value | $		$ 46,543	$ 580,209
Redemptions of common stock, value | $		$ 26,146	$ 10,590
Private Placement [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares	258,462
Issuance of common stock, value | $	$ 2,400
Office Properties [Member]
Organizational Structure [Line Items]
Number of real estate properties | property		28			28
Mixed-use Office/Retail Property [Member]
Organizational Structure [Line Items]
Number of real estate properties | property		1			1
Multi-family Apartment [Member]
Organizational Structure [Line Items]
Number of real estate properties | property		1			1
Common Stock [Member]
Organizational Structure [Line Items]
Shares held by affiliate (in shares)		20,000			20,000
Issuance of common stock, shares		4,878,728	55,602,428	169,006,162
Issuance of common stock, value | $		$ 49	$ 556	$ 1,700,000
Shares of common stock sold under dividend reinvestment plan, shares					15,366,574
Shares of common stock sold under dividend reinvestment plan, value | $					$ 149,600
Redemptions of common stock, shares		2,677,912	1,085,736		4,507,144
Redemptions of common stock, value | $		$ 27	$ 11		$ 43,900
Advisor [Member]
Organizational Structure [Line Items]
Common stock, shares issued						20,000
Common stock, purchase price per share (in dollars per share) | $ / shares						$ 10

SUMMARY OF SIGNIFICANT ACCOUN29

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - $ / shares	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Accounting Policies [Abstract]
Distributions declared per share (in dollars per share)	$ 0.164	$ 0.164	$ 0.486	$ 0.486
Distribution rate per share per day, declared (in dollars per share)	$ 0.00178082	$ 0.00178082	$ 0.00178082	$ 0.00178082

REAL ESTATE (Narrative) (Detail

REAL ESTATE (Narrative) (Details) ft² in Millions	Sep. 30, 2016ft²property
Real Estate Properties [Line Items]
Rentable square feet | ft²	11
Percentage of portfolio occupied	94.00%
Office Properties [Member]
Real Estate Properties [Line Items]
Number of real estate properties	28
Mixed-use Office/Retail Property [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
Multi-family Apartment [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
Multi-family Apartment [Member] | Developer [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1

REAL ESTATE (Schedule of Real E

REAL ESTATE (Schedule of Real Estate Investments) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)property	Aug. 26, 2016property	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Total Real Estate at Cost	$ 3,328,421		$ 3,134,155
Accumulated Depreciation and Amortization	(320,678)		(222,431)
Total real estate, net	$ 3,007,743		$ 2,911,724
Joint Venture [Member]
Real Estate Properties [Line Items]
Equity interest in joint venture		99.24%
Office Properties [Member]
Real Estate Properties [Line Items]
Number of buildings operated | property	28
Multi-family Apartment [Member]
Real Estate Properties [Line Items]
Number of buildings operated | property	1
Multi-family Apartment [Member] | Joint Venture [Member]
Real Estate Properties [Line Items]
Number of buildings operated | property		2
Domain Gateway [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Sep. 29, 2011
Total Real Estate at Cost	$ 47,374
Accumulated Depreciation and Amortization	(10,847)
Total real estate, net	$ 36,527
Town Center [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Mar. 27, 2012
Total Real Estate at Cost	$ 118,109
Accumulated Depreciation and Amortization	(22,460)
Total real estate, net	$ 95,649
McEwen Building [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Apr. 30, 2012
Total Real Estate at Cost	$ 40,372
Accumulated Depreciation and Amortization	(9,035)
Total real estate, net	$ 31,337
Gateway Tech Center [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	May 9, 2012
Total Real Estate at Cost	$ 25,327
Accumulated Depreciation and Amortization	(5,357)
Total real estate, net	$ 19,970
Tower on Lake Carolyn [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 21, 2012
Total Real Estate at Cost	$ 52,097
Accumulated Depreciation and Amortization	(10,547)
Total real estate, net	$ 41,550
RBC Plaza [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jan. 31, 2013
Total Real Estate at Cost	$ 149,931
Accumulated Depreciation and Amortization	(23,389)
Total real estate, net	$ 126,542
One Washingtonian Center [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jun. 19, 2013
Total Real Estate at Cost	$ 90,436
Accumulated Depreciation and Amortization	(11,636)
Total real estate, net	$ 78,800
Preston Commons [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jun. 19, 2013
Total Real Estate at Cost	$ 115,535
Accumulated Depreciation and Amortization	(15,388)
Total real estate, net	$ 100,147
Sterling Plaza [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jun. 19, 2013
Total Real Estate at Cost	$ 79,139
Accumulated Depreciation and Amortization	(9,413)
Total real estate, net	$ 69,726
201 Spear Street [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 3, 2013
Total Real Estate at Cost	$ 135,738
Accumulated Depreciation and Amortization	(11,521)
Total real estate, net	$ 124,217
500 West Madison [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 16, 2013
Total Real Estate at Cost	$ 445,409
Accumulated Depreciation and Amortization	(57,405)
Total real estate, net	$ 388,004
222 Main [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Feb. 27, 2014
Total Real Estate at Cost	$ 165,828
Accumulated Depreciation and Amortization	(16,986)
Total real estate, net	$ 148,842
Anchor Centre [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	May 22, 2014
Total Real Estate at Cost	$ 92,483
Accumulated Depreciation and Amortization	(8,852)
Total real estate, net	$ 83,631
171 17th Street [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Aug. 25, 2014
Total Real Estate at Cost	$ 131,270
Accumulated Depreciation and Amortization	(13,331)
Total real estate, net	$ 117,939
Rocklin Corporate Center [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Nov. 6, 2014
Total Real Estate at Cost	$ 32,484
Accumulated Depreciation and Amortization	(3,384)
Total real estate, net	$ 29,100
Reston Square [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 3, 2014
Total Real Estate at Cost	$ 46,528
Accumulated Depreciation and Amortization	(4,242)
Total real estate, net	$ 42,286
Ten Almaden [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 5, 2014
Total Real Estate at Cost	$ 122,966
Accumulated Depreciation and Amortization	(10,050)
Total real estate, net	$ 112,916
Towers at Emeryville [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 23, 2014
Total Real Estate at Cost	$ 259,985
Accumulated Depreciation and Amortization	(19,718)
Total real estate, net	$ 240,267
101 South Hanley [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 24, 2014
Total Real Estate at Cost	$ 66,482
Accumulated Depreciation and Amortization	(5,213)
Total real estate, net	$ 61,269
3003 Washington Boulevard [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Dec. 30, 2014
Total Real Estate at Cost	$ 151,333
Accumulated Depreciation and Amortization	(8,711)
Total real estate, net	$ 142,622
Village Center Station [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	May 20, 2015
Total Real Estate at Cost	$ 77,998
Accumulated Depreciation and Amortization	(4,976)
Total real estate, net	$ 73,022
Park Place Village [Member] | Office/Retail [Member]
Real Estate Properties [Line Items]
Date Acquired	Jun. 18, 2015
Total Real Estate at Cost	$ 128,434
Accumulated Depreciation and Amortization	(7,390)
Total real estate, net	$ 121,044
201 17th Street [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jun. 23, 2015
Total Real Estate at Cost	$ 103,344
Accumulated Depreciation and Amortization	(5,150)
Total real estate, net	$ 98,194
Promenade I & II at Eilan [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jul. 14, 2015
Total Real Estate at Cost	$ 62,650
Accumulated Depreciation and Amortization	(3,664)
Total real estate, net	$ 58,986
CrossPoint at Valley Forge [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Aug. 18, 2015
Total Real Estate at Cost	$ 90,041
Accumulated Depreciation and Amortization	(3,924)
Total real estate, net	$ 86,117
515 Congress [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Aug. 31, 2015
Total Real Estate at Cost	$ 116,216
Accumulated Depreciation and Amortization	(5,783)
Total real estate, net	$ 110,433
The Almaden [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Sep. 23, 2015
Total Real Estate at Cost	$ 160,074
Accumulated Depreciation and Amortization	(6,463)
Total real estate, net	$ 153,611
3001 Washington Boulevard [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Nov. 6, 2015
Total Real Estate at Cost	$ 54,568
Accumulated Depreciation and Amortization	(1,146)
Total real estate, net	$ 53,422
Carillon [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Date Acquired	Jan. 15, 2016
Total Real Estate at Cost	$ 151,352
Accumulated Depreciation and Amortization	(4,697)
Total real estate, net	$ 146,655
Hardware Village [Member] | Apartment Building [Member]
Real Estate Properties [Line Items]
Date Acquired	Aug. 26, 2016
Total Real Estate at Cost	$ 14,918
Accumulated Depreciation and Amortization	0
Total real estate, net	$ 14,918

REAL ESTATE (Properties Represe

REAL ESTATE (Properties Represented More than 10% of Company’s Total Assets) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)ft²$ / ft²	Dec. 31, 2015USD ($)
Real Estate Properties [Line Items]
Rentable Square Feet | ft²	11,000,000
Total Real Estate, Net	$ 3,007,743	$ 2,911,724
Occupancy	94.00%
500 West Madison [Member] | Assets, Total [Member]
Real Estate Properties [Line Items]
Rentable Square Feet | ft²	1,457,724
Total Real Estate, Net	$ 388,004
Percentage of Total Assets	12.20%
Annualized Base Rent	$ 35,923
Average Annualized Base Rent per sq. ft. | $ / ft²	25.78
Occupancy	95.60%

REAL ESTATE (Operating Leases)

REAL ESTATE (Operating Leases) (Narrative) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)tenant	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Operating Leased Assets [Line Items]
Deferred rent recognized	$ 13,943	$ 13,319
Deferred rent receivables	54,600		$ 38,700
Incentive to Lessee	$ 4,700		3,300
Number of tenants | tenant	900
Maximum [Member]
Operating Leased Assets [Line Items]
Operating lease, term	14 years
Weighted Average [Member]
Operating Leased Assets [Line Items]
Operating lease, term	4 years 10 months 24 days
Other Liabilities [Member]
Operating Leased Assets [Line Items]
Security deposit liability	$ 12,700		$ 12,200

REAL ESTATE (Future Minimum Ren

REAL ESTATE (Future Minimum Rental Income) (Details) $ in Thousands	Sep. 30, 2016USD ($)
Real Estate [Abstract]
October 1, 2016 through December 31, 2016	$ 70,446
2,017	274,951
2,018	260,163
2,019	233,330
2,020	196,554
Thereafter	605,266
Future minimum rental income	$ 1,640,710

REAL ESTATE (Highes Tenant Indu

REAL ESTATE (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants	900
Industry - Finance [Member]
Concentration Risk [Line Items]
Number of Tenants	170
Annualized Base Rent | $	$ 66,669
Percentage of Annualized Base Rent	22.40%

REAL ESTATE REAL ESTATE (Geogra

REAL ESTATE REAL ESTATE (Geographic Concentration Risk) (Narrative) (Details) - Assets, Total [Member]	9 Months Ended
	Sep. 30, 2016
California [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	21.00%
Texas [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	16.00%
Illinois [Member]
Concentration Risk [Line Items]
Concentration risk, percentage	12.00%

REAL ESTATE (Recent Acquisition

REAL ESTATE (Recent Acquisition) (Details) - Carillon [Member] - Office Properties [Member] $ in Millions	Jan. 15, 2016USD ($)aft²	Sep. 30, 2016USD ($)
Real Estate Properties [Line Items]
Net rentable area | ft²	476,308
Area of land | a	1.8
Purchase price	$ 146.1
Land	19.1
Building and improvements	120.7
Tenant origination and absorption costs	10
Below-market lease liabilities	3.7
Business combination, acquisition cost expensed	$ 1.8
Revenues		$ 10.7
Expenses		$ 4.7
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Weighted-average amortization periods	6 years 3 months 18 days
Below-Market Lease Liabilities [Member]
Real Estate Properties [Line Items]
Weighted-average amortization periods	7 years 7 months 6 days

REAL ESTATE (Hardware Village J

REAL ESTATE (Hardware Village Joint Venture Agreement) (Details) $ in Thousands	Aug. 26, 2016USD ($)ft²propertyunit	Sep. 30, 2016USD ($)property	Dec. 31, 2015USD ($)	May 09, 2012aft²
Real Estate Properties [Line Items]
Construction in progress		$ 14,918	$ 990
Multi-family Apartment [Member]
Real Estate Properties [Line Items]
Number of buildings operated | property		1
Joint Venture [Member]
Real Estate Properties [Line Items]
Net rentable area | ft²	422,585
Number of real estate units | unit	466
Construction in progress	$ 111,700
Equity interest in joint venture	99.24%
Contribution of land, value	$ 13,500
Contribution of land, historical cost basis	4,200
Pre-closing development expenses	4,600
Additional cash that may be contributed	$ 20,700
Joint Venture [Member] | Multi-family Apartment [Member]
Real Estate Properties [Line Items]
Number of buildings operated | property	2
Gateway Tech Center [Member] | Office Properties [Member]
Real Estate Properties [Line Items]
Net rentable area | ft²				198,565
Area of land | a				9

TENANT ORIGINATION AND ABSORP39

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Cost	$ 273,414		$ 273,414		$ 273,758
Tenant Origination and Absorption Costs, Accumulated Amortization	(96,651)		(96,651)		(71,836)
Tenant Origination and Absorption Costs, Net Amount	176,763		176,763		201,922
Tenant Origination and Absorption Costs, Amortization expense	(11,208)	$ (11,536)	(35,100)	$ (32,631)
Above-Market Lease Assets, Cost	14,804		14,804		15,573
Above-Market Lease Assets, Accumulated Amortization	(6,005)		(6,005)		(4,596)
Above-Market Lease Assets, Net Amount	8,799		8,799		10,977
Above-Market Lease Assets, Amortization expense	(718)	(823)	(2,186)	(2,935)
Below-Market Lease Liabilities, Cost	(56,764)		(56,764)		(56,996)
Below-Market Lease Liabilities, Accumulated Amortization	20,446		20,446		15,296
Below-Market Lease Liabilities, Net Amount	(36,318)		(36,318)		$ (41,700)
Below-Market Lease Liabilities, Amortization expense	$ 2,474	$ 2,798	$ 9,055	$ 7,825

REAL ESTATE LOAN RECEIVABLE (Sc

REAL ESTATE LOAN RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) $ in Thousands	6 Months Ended
	Jul. 02, 2016	Sep. 30, 2016USD ($)	Dec. 31, 2015USD ($)loan
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of loans originated | loan			1
Book Value		$ 0	$ 21,997
Aberdeen First Mortgage Origination [Member] | Mortgages [Member] | Office Properties [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Book Value			$ 21,997
Fixed rate	7.50%

REAL ESTATE LOAN RECEIVABLE (41

REAL ESTATE LOAN RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Real Estate Loans Receivable [Roll Forward]
Real estate loan receivable - December 31, 2015			$ 21,997
Advances on real estate loan receivable			544	$ 1,738
Principal repayments received on real estate loan receivable			(22,526)
Amortization of closing costs and origination fees on originated real estate loan receivable	$ 0	$ (7)	(15)	$ (20)
Real estate loan receivable - September 30, 2016	$ 0		$ 0

REAL ESTATE LOAN RECEIVABLE (42

REAL ESTATE LOAN RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Receivables [Abstract]
Contractual interest income	$ 5	$ 414	$ 846	$ 1,210
Amortization of closing costs and origination fees	0	(7)	(15)	(20)
Interest income from real estate loan receivable	$ 5	$ 407	$ 831	$ 1,190

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred financing costs					$ 12,800,000
Interest expense	$ 10,042,000	$ 17,342,000	$ 53,948,000	$ 37,393,000
Interest payable, current	4,100,000		4,100,000		3,400,000
Amortization of deferred financing costs			3,838,000	2,549,000
Interest capitalized			64,000	0
Interest expense incurred as a result of derivative instruments	1,300,000	9,400,000	20,500,000	14,700,000
Interest Expense [Member]
Debt Instrument [Line Items]
Amortization of deferred financing costs	1,300,000	$ 900,000	3,800,000	$ 2,500,000
Notes Payable [Member]
Debt Instrument [Line Items]
Deferred financing costs	$ 10,300,000		$ 10,300,000		12,700,000
Prepaid Expenses and Other Current Assets [Member]
Debt Instrument [Line Items]
Deferred financing costs					$ 100,000

NOTES PAYABLE (Schedule of Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) - USD ($)	9 Months Ended
	Sep. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 1,760,563,000	$ 1,653,392,000
Deferred financing costs, net	(10,290,000)	(12,738,000)
Total Notes Payable, net	1,750,273,000	1,640,654,000
Portfolio Loan [Member] | Secured Debt [Member]
Debt Instrument [Line Items]
Total Notes Payable, net	127,500,000
500 West Madison [Member]
Debt Instrument [Line Items]
Total Notes Payable, net	215,000,000
500 West Madison [Member] | First Non-Revolver Tranche [Member]
Debt Instrument [Line Items]
Current borrowing capacity	40,000,000
Mortgages [Member] | Town Center [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 75,000,000	75,000,000
Effective Interest Rate	2.87%
Maturity Date	Mar. 27, 2018
Mortgages [Member] | Town Center [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.85%
Mortgages [Member] | Portfolio Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 127,500,000	127,500,000
Effective Interest Rate	2.42%
Maturity Date	Jun. 1, 2019
Mortgages [Member] | Portfolio Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.90%
Mortgages [Member] | RBC Plaza [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 75,930,000	75,930,000
Effective Interest Rate	2.56%
Maturity Date	Feb. 1, 2017
Mortgages [Member] | RBC Plaza [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.80%
Mortgages [Member] | National Office Portfolio [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 169,191,000	169,191,000
Effective Interest Rate	2.79%
Maturity Date	Jul. 1, 2017
Mortgages [Member] | National Office Portfolio [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Mortgages [Member] | 500 West Madison [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 215,000,000	215,000,000
Effective Interest Rate	3.16%
Maturity Date	Dec. 16, 2018
Mortgages [Member] | 500 West Madison [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
Mortgages [Member] | 222 Main [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 101,800,000	102,700,000
Stated percentage	3.97%
Effective Interest Rate	3.97%
Maturity Date	Mar. 1, 2021
Mortgages [Member] | Anchor Centre [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 50,000,000	50,000,000
Effective Interest Rate	3.18%
Maturity Date	Jun. 1, 2017
Mortgages [Member] | Anchor Centre [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Mortgages [Member] | 171 17th Street Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 80,992,000	80,992,000
Effective Interest Rate	2.72%
Maturity Date	Sep. 1, 2018
Mortgages [Member] | 171 17th Street Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%
Mortgages [Member] | Reston Square Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 23,840,000	23,840,000
Effective Interest Rate	2.02%
Maturity Date	Feb. 1, 2018
Mortgages [Member] | Reston Square Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Mortgages [Member] | Ten Almaden Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 65,059,000	63,540,000
Effective Interest Rate	3.43%
Maturity Date	Jan. 1, 2018
Mortgages [Member] | Ten Almaden Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
Mortgages [Member] | Towers at Emeryville Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 145,379,000	143,944,000
Effective Interest Rate	4.00%
Maturity Date	Jan. 15, 2018
Loan, amount outstanding	$ 145,400,000
Unused borrowing capacity, amount	$ 29,600,000
Mortgages [Member] | Towers at Emeryville Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Mortgages [Member] | 101 South Hanley Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 35,025,000	35,025,000
Effective Interest Rate	2.07%
Maturity Date	Jan. 1, 2020
Mortgages [Member] | 101 South Hanley Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%
Mortgages [Member] | 3003 Washington Boulevard Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 90,378,000	90,378,000
Effective Interest Rate	2.07%
Maturity Date	Feb. 1, 2020
Mortgages [Member] | 3003 Washington Boulevard Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.55%
Mortgages [Member] | Rocklin Corporate Center Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 19,889,000	19,889,000
Effective Interest Rate	2.02%
Maturity Date	Jun. 5, 2018
Mortgages [Member] | Rocklin Corporate Center Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Mortgages [Member] | 201 17th Street Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 53,240,000	48,563,000
Effective Interest Rate	1.92%
Maturity Date	Aug. 1, 2018
Mortgages [Member] | 201 17th Street Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.40%
Mortgages [Member] | CrossPoint at Valley Forge Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 51,000,000	51,000,000
Effective Interest Rate	3.33%
Maturity Date	Sep. 1, 2022
Mortgages [Member] | CrossPoint at Valley Forge Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.50%
Mortgages [Member] | The Almaden Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 76,100,000	76,100,000
Effective Interest Rate	2.27%
Maturity Date	Oct. 1, 2016
Mortgages [Member] | The Almaden Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Mortgages [Member] | Promenade I & II at Eilan Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 37,300,000	37,300,000
Effective Interest Rate	2.27%
Maturity Date	Oct. 1, 2022
Mortgages [Member] | Promenade I & II at Eilan Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.75%
Mortgages [Member] | 515 Congress Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 67,500,000	67,500,000
Effective Interest Rate	2.23%
Maturity Date	Nov. 1, 2020
Mortgages [Member] | 515 Congress Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.70%
Mortgages [Member] | 201 Spear Street Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 100,000,000	100,000,000
Effective Interest Rate	2.19%
Maturity Date	Jan. 1, 2019
Mortgages [Member] | 201 Spear Street Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.66%
Mortgages [Member] | Carillon Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 76,440,000	0
Effective Interest Rate	2.17%
Maturity Date	Feb. 1, 2020
Mortgages [Member] | Carillon Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.65%
Mortgages [Member] | 3001 Washington Boulevard Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 24,000,000	$ 0
Effective Interest Rate	2.13%
Maturity Date	Feb. 1, 2019
Mortgages [Member] | 3001 Washington Boulevard Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Basis spread on variable rate	1.60%
Secured Debt [Member] | Portfolio Loan [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 255,000,000
Loan, amount outstanding	127,500,000
Potential maximum borrowing capacity	350,000,000
Secured Debt [Member] | Portfolio Loan [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity	127,500,000
Unused borrowing capacity, amount	$ 126,500,000
Maximum borrowing capacity, percentage	50.00%
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	$ 1,000,000
Secured Debt [Member] | Portfolio Loan [Member] | Non-Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Maximum borrowing capacity, percentage	50.00%

NOTES PAYABLE (Schedule of Matu

NOTES PAYABLE (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Sep. 30, 2016	Dec. 31, 2015
Notes Payable [Abstract]
October 1, 2016 through December 31, 2016	$ 76,557
2,017	296,994
2,018	680,827
2,019	254,081
2,020	270,509
Thereafter	181,595
Total notes payable	$ 1,760,563	$ 1,653,392

DERIVATIVE INSTRUMENTS (Narrati

DERIVATIVE INSTRUMENTS (Narrative) (Details) $ in Millions	9 Months Ended
	Sep. 30, 2016USD ($)
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Additional interest expense expected to be recognized over the next 12 months related to derivative instruments designated as cash flow hedges	$ 4.1

DERIVATIVE INSTRUMENTS (Notiona

DERIVATIVE INSTRUMENTS (Notional Amount) (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2016USD ($)investment	Dec. 31, 2015USD ($)investment
Interest Rate Swap [Member] | Exercised at Various Dates (2016-2018) [Member]
Derivative [Line Items]
Number of Instruments | investment	9
Notional Amount | $	$ 401,100
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments | investment	7	7
Notional Amount | $	$ 625,130	$ 625,130
Weighted-Average Fix Pay Rate	1.35%
Weighted-Average Remaining Term in Years	1 year 8 months 12 days
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Minimum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	0.79%
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Maximum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	1.68%
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments | investment	12	10
Notional Amount | $	$ 658,183	$ 557,743
Weighted-Average Fix Pay Rate	1.99%
Weighted-Average Remaining Term in Years	3 years 7 months 6 days
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Minimum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	1.39%
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member] | Maximum [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	2.37%
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments | investment	1	1
Notional Amount | $	$ 147,340	$ 353,380
Weighted-Average Fix Pay Rate	2.46%
Weighted-Average Remaining Term in Years	3 months 18 days
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	2.46%

DERIVATIVE INSTRUMENTS (Balance

DERIVATIVE INSTRUMENTS (Balance Sheet) (Details) $ in Thousands	Sep. 30, 2016USD ($)investment	Dec. 31, 2015USD ($)investment
Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	7	7
Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	0	1
Asset, Fair Value | $	$ 0	$ 75
Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	7	6
Liability, Fair Value | $	$ (6,672)	$ (4,304)
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	12	10
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments	1	1
Not Designated as Hedging Instrument [Member] | Prepaid Expenses and Other Current Assets [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments	1	1
Asset, Fair Value | $	$ 0	$ 3
Not Designated as Hedging Instrument [Member] | Other Liabilities [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Number of Instruments	12	10
Liability, Fair Value | $	$ (22,210)	$ (7,400)

DERIVATIVE INSTRUMENTS (Stateme

DERIVATIVE INSTRUMENTS (Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Derivative [Line Items]
(Decrease) increase in interest expense as a result of derivatives	$ (1,342)	$ 9,378	$ 20,463	$ 14,741
Unrealized (gain) losses on derivative instruments	(1,784)	6,014	6,695	12,367
Designated as Hedging Instrument [Member]
Derivative [Line Items]
Derivatives designated as hedging instruments	1,363	1,849	4,252	5,216
(Decrease) increase in interest expense as a result of derivatives	1,363	1,849	4,252	5,216
Not Designated as Hedging Instrument [Member]
Derivative [Line Items]
(Decrease) increase in interest expense as a result of derivatives	(2,705)	7,529	16,211	9,525
Not Designated as Hedging Instrument [Member] | Interest Rate Swap [Member]
Derivative [Line Items]
Realized loss recognized on interest rate swaps	1,040	70	1,398	70
Unrealized (gain) losses on derivative instruments	(3,745)	7,443	14,810	9,286
Not Designated as Hedging Instrument [Member] | Interest Rate Cap [Member]
Derivative [Line Items]
Unrealized (gain) losses on derivative instruments	$ 0	$ 16	$ 3	$ 169

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Sep. 30, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Face Value	$ 0	$ 21,982,000
Notes payable, Face Value	1,760,563,000	1,653,392,000
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	0	21,997,000
Notes payable, Value	1,750,273,000	1,640,654,000
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	0	21,884,000
Notes payable, Value	$ 1,751,825,000	$ 1,654,788,000

FAIR VALUE DISCLOSURES (Assets

FAIR VALUE DISCLOSURES (Assets and Liabilities at Fair value) (Details) - Recurring Basis [Member] - Interest Rate Swap [Member] $ in Thousands	Sep. 30, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	$ (28,882)
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	(28,882)
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	$ 0

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Payable as of	$ 2,337		$ 2,337		$ 10,219
Administrative fees, amount paid	51	$ 45	145	$ 114
Asset Management Fees [Member]
Related Party Transaction [Line Items]
Payable as of					10,100
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Incurred	6,382	11,350	20,467	72,870
Payable as of	2,337		2,337		10,219
Advisor and Dealer Manager [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Expenses	6,286	5,318	18,646	14,132
Payable as of	2,055		2,055		10,075
Advisor and Dealer Manager [Member] | Reimbursement of Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	68	64	261	143
Payable as of	195		195		144
Advisor and Dealer Manager [Member] | Real Estate Acquisition Fees [Member]
Related Party Transaction [Line Items]
Expenses	0	4,160	1,473	7,178
Payable as of	0		0		0
Advisor and Dealer Manager [Member] | Selling Commissions [Member]
Related Party Transaction [Line Items]
Incurred	0	789	0	33,202
Payable as of	0		0		0
Advisor and Dealer Manager [Member] | Dealer Manager Fees [Member]
Related Party Transaction [Line Items]
Incurred	0	389	0	15,748
Payable as of	0		0		0
Advisor and Dealer Manager [Member] | Reimbursable Other Offering Costs [Member]
Related Party Transaction [Line Items]
Incurred	0	630	0	2,467
Payable as of	0		0		0
Advisor and Dealer Manager [Member] | Acquisition Fee on Development Project [Member]
Related Party Transaction [Line Items]
Incurred	28	$ 0	87	$ 0
Payable as of	$ 87		$ 87		$ 0

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) $ in Thousands	3 Months Ended	9 Months Ended
	Sep. 30, 2016USD ($)	Sep. 30, 2016USD ($)	Sep. 30, 2015USD ($)	Dec. 31, 2015USD ($)	May 29, 2015USD ($)ft²$ / ft²	Mar. 05, 2014
Related Party Transaction [Line Items]
Non compounded return on net invested capital						8.00%
Due to related parties	$ 2,337	$ 2,337		$ 10,219
Asset Management Fees [Member]
Related Party Transaction [Line Items]
Due to related parties				$ 10,100
KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Expenses		100	$ 100
KBS Capital Advisors LLC [Member] | Legal and Professional Fees Reimbursement [Member]
Related Party Transaction [Line Items]
Due from related party	100	100
KBS Capital Advisors LLC [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Due to related parties	2,100	2,100
KBS Capital Advisors LLC [Member] | Property Insurance Rebate [Member]
Related Party Transaction [Line Items]
Due from related party	200	200
Affiliated Entity [Member] | Subsidiaries [Member]
Related Party Transaction [Line Items]
Net rentable area | ft²					5,046
Percent of total rentable square feet					2.40%
Annualized base rent					$ 234
Average annualized base rent per square foot | $ / ft²					46.38
Rental income	$ 59	$ 176

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($) $ / shares in Units, $ in Millions	Nov. 07, 2016	Nov. 01, 2016	Oct. 11, 2016	Oct. 03, 2016	Sep. 30, 2016	Sep. 30, 2015	Sep. 30, 2016	Sep. 30, 2015
Subsequent Event [Line Items]
Distribution rate per share per day, declared (in dollars per share)					$ 0.00178082	$ 0.00178082	$ 0.00178082	$ 0.00178082
Subsequent Event [Member] | Dividend Paid [Member]
Subsequent Event [Line Items]
Paid distributions		$ 10		$ 9.6
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Distribution rate per share per day, declared (in dollars per share)	$ 0.00178082		$ 0.00178082
Distribution rate per share annualized, declared, based on current estimated value	6.47%		6.47%
Subsequent Event [Member] | Dividend Declared [Member] | Most Recent Primary Offering Purchase Price [Member]
Subsequent Event [Line Items]
Common stock, purchase price per share (in dollars per share)	$ 10.04		$ 10.04