KBS Real Estate Investment Trust III (KBSR) 10-Q 9 Aug 19 2019 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2019	Aug. 05, 2019
Document and Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Registrant Name	KBS Real Estate Investment Trust III, Inc.
Entity Central Index Key	0001482430
Current Fiscal Year End Date	--12-31
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		175,679,897
Entity Emerging Growth Company	false
Entity Small Business	false
Entity Current Reporting Status	Yes
Entity Shell Company	false

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Real estate:
Land	$ 401,150	$ 402,008
Buildings and improvements	2,936,372	2,911,995
Construction in progress	50,595	35,785
Tenant origination and absorption costs	202,342	223,723
Total real estate held for investment, cost	3,590,459	3,573,511
Less accumulated depreciation and amortization	(579,249)	(536,990)
Total real estate held for investment, net	3,011,210	3,036,521
Cash and cash equivalents	66,080	75,023
Restricted cash	5,970	1,015
Rents and other receivables, net	104,441	98,411
Above-market leases, net	3,452	4,176
Prepaid expenses and other assets	84,356	85,645
Total assets	3,275,509	3,300,791
Liabilities and equity
Notes payable, net	2,275,768	2,184,538
Accounts payable and accrued liabilities	74,588	67,265
Due to affiliate	4,741	4,209
Distributions payable	9,485	9,801
Below-market leases, net	14,729	17,553
Redeemable common stock payable	16,476	31,647
Other liabilities	49,987	30,396
Total liabilities	2,445,774	2,345,409
Commitments and contingencies (Note 9)
Redeemable common stock	15,631	24,487
KBS Real Estate Investment Trust III, Inc. stockholders’ equity
Preferred stock, $.01 par value per share; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value per share; 1,000,000,000 shares authorized, 175,001,561 and 177,523,853 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively	1,750	1,775
Additional paid-in capital	1,550,351	1,555,380
Cumulative distributions and net losses	(738,263)	(626,543)
Total KBS Real Estate Investment Trust III, Inc. stockholders’ equity	813,838	930,612
Noncontrolling interest	266	283
Total equity	814,104	930,895
Total liabilities and equity	$ 3,275,509	$ 3,300,791

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Jun. 30, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, shares issued (in shares)	175,001,561	177,523,853
Common stock, shares outstanding (in shares)	175,001,561	177,523,853

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Rental income	$ 105,843	$ 98,794	$ 208,850	$ 195,416
Other operating income	8,666	8,782	17,037	16,339
Total revenues	114,509	107,576	225,887	211,755
Expenses:
Real estate taxes and insurance	18,418	18,487	35,865	35,261
General and administrative expenses	1,907	2,012	3,942	3,535
Depreciation and amortization	41,632	39,025	83,040	78,006
Interest expense	47,403	12,517	85,350	13,327
Impairment charges on real estate	0	0	8,706	0
Total expenses	142,638	103,080	280,787	190,942
Other income (loss):
Other income	9	1,575	22	1,876
Other interest income	192	84	264	96
Equity in income (loss) of unconsolidated joint venture	0	(348)	0	(348)
Loss from extinguishment of debt	(196)	0	(196)	0
Gain on sale of real estate, net	0	11,942	0	11,942
Total other income, net	5	13,253	90	13,566
Net (loss) income	(28,124)	17,749	(54,810)	34,379
Net loss attributable to noncontrolling interest	9	0	17	0
Net (loss) income attributable to common stockholders	$ (28,115)	$ 17,749	$ (54,793)	$ 34,379
Net (loss) income per common share, basic and diluted (in dollars per share)	$ (0.16)	$ 0.10	$ (0.31)	$ 0.19
Weighted-average number of common shares outstanding, basic and diluted (in shares)	174,783,611	177,649,492	175,154,320	178,588,342
Operating, maintenance and management
Expenses:
Expenses	$ 26,279	$ 24,301	$ 50,013	$ 47,455
Asset management fees to affiliate
Expenses:
Expenses	$ 6,999	$ 6,738	$ 13,871	$ 13,358

CONSOLIDATED STATEMENTS OF COMP

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Statement of Comprehensive Income [Abstract]
Net (loss) income	$ (28,124)	$ 17,749	$ (54,810)	$ 34,379
Other comprehensive (loss) income:
Unrealized (loss) income on derivative instruments designated as cash flow hedges	0	(1)	0	83
Reclassification adjustment realized in net income (effective portion)	0	(96)	0	(108)
Total other comprehensive loss	0	(97)	0	(25)
Total comprehensive (loss) income	(28,124)	17,652	(54,810)	34,354
Total comprehensive loss attributable to noncontrolling interest	9	0	17	0
Total comprehensive (loss) income attributable to common stockholders	$ (28,115)	$ 17,652	$ (54,793)	$ 34,354

CONSOLIDATED STATEMENTS OF EQUI

CONSOLIDATED STATEMENTS OF EQUITY - USD ($) $ in Thousands	Total	Total Stockholders’ Equity	Common Stock	Additional Paid-in Capital	Cumulative Distributions in Excess of Net Income (Loss)	Accumulated Other Comprehensive Income (Loss)	Noncontrolling Interest
Balance (in shares) at Dec. 31, 2017			180,864,707
Balance at Dec. 31, 2017	$ 1,079,408	$ 1,079,108	$ 1,809	$ 1,591,640	$ (514,451)	$ 110	$ 300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	34,379	34,379			34,379
Other comprehensive loss	(25)	(25)				(25)
Issuance of common stock (in shares)			2,556,146
Issuance of common stock	28,501	28,501	$ 25	28,476
Transfers from redeemable common stock	21,557	21,557		21,557
Redemptions of common stock (in shares)			(8,146,679)
Redemptions of common stock	(93,371)	(93,371)	$ (81)	(93,290)
Distributions declared	(57,551)	(57,551)			(57,551)
Balance (in shares) at Jun. 30, 2018			175,274,174
Balance at Jun. 30, 2018	1,012,898	1,012,598	$ 1,753	1,548,383	(537,623)	85	300
Balance (in shares) at Mar. 31, 2018			176,993,282
Balance at Mar. 31, 2018	1,067,337	1,067,037	$ 1,770	1,591,679	(526,594)	182	300
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	17,749	17,749			17,749
Other comprehensive loss	(97)	(97)				(97)
Issuance of common stock (in shares)			1,276,061
Issuance of common stock	14,228	14,228	$ 12	14,216
Transfers to redeemable common stock	(23,954)	(23,954)		(23,954)
Redemptions of common stock (in shares)			(2,995,169)
Redemptions of common stock	(33,587)	(33,587)	$ (29)	(33,558)
Distributions declared	(28,778)	(28,778)			(28,778)
Balance (in shares) at Jun. 30, 2018			175,274,174
Balance at Jun. 30, 2018	$ 1,012,898	1,012,598	$ 1,753	1,548,383	(537,623)	85	300
Balance (in shares) at Dec. 31, 2018	177,523,853		177,523,853
Balance at Dec. 31, 2018	$ 930,895	930,612	$ 1,775	1,555,380	(626,543)	0	283
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(54,810)	(54,793)			(54,793)		(17)
Other comprehensive loss	0
Issuance of common stock (in shares)			2,317,868
Issuance of common stock	26,471	26,471	$ 23	26,448
Transfers from redeemable common stock	24,028	24,028		24,028
Redemptions of common stock (in shares)			(4,840,160)
Redemptions of common stock	(55,550)	(55,550)	$ (48)	(55,502)
Distributions declared	(56,927)	(56,927)			(56,927)
Other offering costs	$ (3)	(3)		(3)
Balance (in shares) at Jun. 30, 2019	175,001,561		175,001,561
Balance at Jun. 30, 2019	$ 814,104	813,838	$ 1,750	1,550,351	(738,263)	0	266
Balance (in shares) at Mar. 31, 2019			174,110,694
Balance at Mar. 31, 2019	870,683	870,408	$ 1,741	1,550,411	(681,744)	0	275
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss) income	(28,124)	(28,115)			(28,115)		(9)
Other comprehensive loss	0
Issuance of common stock (in shares)			1,136,045
Issuance of common stock	12,974	12,974	$ 11	12,963
Transfers to redeemable common stock	(10,080)	(10,080)		(10,080)
Redemptions of common stock (in shares)			(245,178)
Redemptions of common stock	(2,944)	(2,944)	$ (2)	(2,942)
Distributions declared	(28,404)	(28,404)			(28,404)
Other offering costs	$ (1)	(1)		(1)
Balance (in shares) at Jun. 30, 2019	175,001,561		175,001,561
Balance at Jun. 30, 2019	$ 814,104	$ 813,838	$ 1,750	$ 1,550,351	$ (738,263)	$ 0	$ 266

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash Flows from Operating Activities:
Net (loss) income	$ (54,810)	$ 34,379
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	83,040	78,006
Impairment charges on real estate	8,706	0
Equity in loss of unconsolidated joint venture	0	348
Deferred rents	(3,026)	(4,947)
Loss due to property damage	90	0
Bad debt expense	0	110
Amortization of above- and below-market leases, net	(2,100)	(2,587)
Amortization of deferred financing costs	3,185	3,091
Loss from extinguishment of debt	196	0
Unrealized losses (gains) on derivative instruments	37,899	(25,326)
Gain on sale of real estate	0	(11,942)
Changes in operating assets and liabilities:
Rents and other receivables	(3,149)	(3,067)
Prepaid expenses and other assets	(19,213)	(7,918)
Accounts payable and accrued liabilities	(3,438)	(5,113)
Other liabilities	(2,853)	(2,586)
Due to affiliates	399	695
Net cash provided by operating activities	44,926	53,143
Cash Flows from Investing Activities:
Improvements to real estate	(35,199)	(45,931)
Proceeds from sale of real estate, net	0	41,649
Payments for construction in progress	(14,017)	(19,092)
Investment in unconsolidated joint venture	0	(428)
Payments of post-closing acquisition costs	(338)	0
Escrow deposits for tenant improvements	972	1,111
Insurance proceeds received for property damage	519	3,928
Net cash used in investing activities	(48,063)	(18,763)
Cash Flows from Financing Activities:
Proceeds from notes payable	283,830	126,168
Principal payments on notes payable	(193,664)	(39,266)
Payments of deferred financing costs	(4,692)	(108)
Payments to redeem common stock	(55,550)	(93,296)
Payments of other offering costs	(3)	0
Distributions paid to common stockholders	(30,772)	(29,533)
Net cash used in financing activities	(851)	(36,035)
Net decrease in cash, cash equivalents and restricted cash	(3,988)	(1,655)
Cash, cash equivalents and restricted cash, beginning of period	76,038	65,486
Cash, cash equivalents and restricted cash, end of period	72,050	63,831
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $1,067 and $2,150 for the six months ended June 30, 2019 and 2018, respectively	43,659	35,001
Supplemental Disclosure of Noncash Investing and Financing Activities:
Distributions payable	9,485	9,499
Redeemable common stock payable	16,476	6,257
Accrued improvements to real estate	27,061	20,730
Construction in progress payable	6,616	8,158
Acquisition fee related to construction in progress due to affiliate	1,049	745
Acquisition fee on unconsolidated joint venture due to affiliate	0	451
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	$ 26,471	$ 28,501

CONSOLIDATED STATEMENTS OF CA_2

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Statement of Cash Flows [Abstract]
Interest capitalized	$ 1,067	$ 2,150

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2019
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 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 June 30, 2019 , the Advisor owned 20,000 shares of the Company’s common stock. The Company owns a diverse portfolio of real estate investments. As of June 30, 2019 , the Company owned 28 office properties and one mixed-use office/retail property and had entered into a consolidated joint venture to develop and subsequently operate a multifamily 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 June 30, 2019 , the Company had also sold 30,244,405 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $307.3 million . Also as of June 30, 2019 , the Company had redeemed or repurchased 24,527,469 shares sold in the Offering for $266.0 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 its 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	6 Months Ended
	Jun. 30, 2019
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, 2018 , except for the Company’s adoption of the lease accounting standards issued by the Financial Accounting Standards Board (“FASB”) effective on January 1, 2019. 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, 2018 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 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 six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 . The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership, 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 prior periods. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three and six months ended June 30, 2018 , the Company reclassified $19.4 million and $37.1 million , respectively, of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes. Revenue Recognition - Operating Leases Real Estate On January 1, 2019, the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019. The Company’s comparative periods presented in the financial statements will continue to be reported under the lease accounting standards of Topic 840. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations beginning January 1, 2019. In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations beginning January 1, 2019. The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units under operating leases with terms generally of one year or less. Generally, credit investigations will be performed for prospective residents and security deposits will be obtained. The Company recognizes rental revenue, net of concessions, on a straight-line basis over the term of the lease, when collectibility is determined to be probable. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and tenant reimbursements and would recognize rental income only if cash is received. Beginning January 1, 2019, these changes to the Company’s collectibility assessment are reflected as an adjustment to rental income. Prior to January 1, 2019, bad debt expense related to uncollectible accounts receivable and deferred rent receivable was included in operating, maintenance, and management expense in the statement of operations. Any subsequent changes to the collectibility of the allowance for doubtful accounts as of December 31, 2018, which was recorded prior to the adoption of Topic 842, are recorded in operating, maintenance, and management expense in the statement of operations. Beginning January 1, 2019, the Company, as a lessor, records costs to negotiate or arrange a lease that would have been incurred regardless of whether the lease was obtained, such as legal costs incurred to negotiate an operating lease, as an expense and classifies such costs as operating, maintenance, and management expense on the Company’s consolidated statement of operations, as these costs are no longer capitalizable under the definition of initial direct costs under Topic 842. 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 six months ended June 30, 2019 and 2018 , respectively. Distributions declared per common share were $0.164 and $ 0.322 for the three and six months ended June 30, 2018 , respectively. Distributions declared per common share assumes each share was issued and outstanding each day from January 1, 2018 through June 30, 2018 . For each day that was a record date for distributions during the period from January 1, 2018 through June 30, 2018 , distributions were calculated at a rate of $0.00178082 per share per day. Distributions declared per common share were $0.1625 and $0.3250 in the aggregate for the three and six months ended June 30, 2019 . Distributions declared per common share assumes each share was issued and outstanding each day that was a record date for distributions and were based on a monthly record date for each month during the periods commencing January 2019 through June 2019. For each monthly record date for distributions during the period from January 1, 2019 through June 30, 2019, distributions were calculated at a rate of $0.0541667 per share. 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 June 30, 2019 , the Company aggregated its investments in real estate properties into one reportable business segment. Square Footage, Occupancy and Other Measures Square footage, occupancy, number of tenants and other measures, including annualized base rent and annualized base rent per square foot, used to describe real estate investments included in these condensed notes to the consolidated financial statements 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 June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“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 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement (“ASU No. 2018-13”). The primary focus of ASU 2018-13 is to improve the effectiveness of the disclosure requirements for fair value measurements. ASU No. 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for the timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and to disclose the range and weighted average of significant unobservable inputs used to develop recurring and nonrecurring Level 3 fair value measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop the Level 3 fair value measurement. In addition, public entities are required to provide information about the measurement uncertainty of recurring Level 3 fair value measurements from the use of significant unobservable inputs if those inputs reasonably could have been different at the reporting date. ASU No. 2018-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company is still evaluating the impact of adopting ASU No. 2018-13 on its financial statements.

REAL ESTATE

REAL ESTATE	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE Real Estate Held for Investment As of June 30, 2019 , the Company’s real estate portfolio held for investment was composed of 28 office properties and one mixed-use office/retail property encompassing in the aggregate approximately 11.2 million rentable square feet. In addition, the Company had entered into a consolidated joint venture to develop and subsequently operate a multifamily apartment project, which is currently under construction. As of June 30, 2019 , the Company’s real estate portfolio was collectively 90% occupied. The following table summarizes the Company’s investments in real estate as of June 30, 2019 (in thousands): Property Date Acquired City State Property Type Total Real Estate, (1) Accumulated Depreciation and Amortization (1) Total Real Estate, Net (1) Domain Gateway 09/29/2011 Austin TX Office $ 49,574 $ (15,014 ) $ 34,560 Town Center 03/27/2012 Plano TX Office 114,355 (28,443 ) 85,912 McEwen Building 04/30/2012 Franklin TN Office 36,316 (8,213 ) 28,103 Gateway Tech Center 05/09/2012 Salt Lake City UT Office 27,466 (7,281 ) 20,185 Tower on Lake Carolyn (2) 12/21/2012 Irving TX Office 53,253 (13,509 ) 39,744 RBC Plaza 01/31/2013 Minneapolis MN Office 153,078 (41,459 ) 111,619 One Washingtonian Center (2) 06/19/2013 Gaithersburg MD Office 93,273 (20,763 ) 72,510 Preston Commons 06/19/2013 Dallas TX Office 119,772 (25,623 ) 94,149 Sterling Plaza 06/19/2013 Dallas TX Office 79,452 (15,099 ) 64,353 201 Spear Street 12/03/2013 San Francisco CA Office 145,279 (17,364 ) 127,915 Accenture Tower (3) 12/16/2013 Chicago IL Office 444,835 (78,048 ) 366,787 222 Main (2) 02/27/2014 Salt Lake City UT Office 165,839 (33,968 ) 131,871 Anchor Centre 05/22/2014 Phoenix AZ Office 96,005 (16,874 ) 79,131 171 17th Street (2) 08/25/2014 Atlanta GA Office 135,156 (30,975 ) 104,181 Reston Square (2) 12/03/2014 Reston VA Office 46,785 (9,781 ) 37,004 Ten Almaden 12/05/2014 San Jose CA Office 126,187 (20,658 ) 105,529 Towers at Emeryville (4) 12/23/2014 Emeryville CA Office 285,882 (37,940 ) 247,942 101 South Hanley (2) 12/24/2014 St. Louis MO Office 72,730 (13,460 ) 59,270 3003 Washington Boulevard 12/30/2014 Arlington VA Office 151,059 (22,884 ) 128,175 Village Center Station (2) 05/20/2015 Greenwood Village CO Office 76,240 (11,756 ) 64,484 Park Place Village 06/18/2015 Leawood KS Office/Retail 100,493 (1,182 ) 99,311 201 17th Street 06/23/2015 Atlanta GA Office 102,090 (16,597 ) 85,493 Promenade I & II at Eilan (2) 07/14/2015 San Antonio TX Office 62,720 (11,051 ) 51,669 CrossPoint at Valley Forge (2) 08/18/2015 Wayne PA Office 90,412 (13,739 ) 76,673 515 Congress 08/31/2015 Austin TX Office 120,875 (14,889 ) 105,986 The Almaden 09/23/2015 San Jose CA Office 174,118 (19,587 ) 154,531 3001 Washington Boulevard 11/06/2015 Arlington VA Office 60,717 (5,994 ) 54,723 Carillon 01/15/2016 Charlotte NC Office 152,949 (19,875 ) 133,074 Hardware Village (5) 08/26/2016 Salt Lake City UT Development/Apartment 121,437 (3,014 ) 118,423 Village Center Station II (2) 10/11/2018 Greenwood Village CO Office 132,112 (4,209 ) 127,903 $ 3,590,459 $ (579,249 ) $ 3,011,210 ___________________ (1) Amounts presented are net of impairment charges. (2) On July 18, 2019 , the Company sold this property. See Note 8, “Related Party Transactions - Purchase and Sale Agreement for Portfolio Sale” and Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (3) This property was formerly known as 500 West Madison and was re-named Accenture Tower in connection with the Company’s re-branding strategy for this property. (4) On July 18, 2019 , the Company sold one of the three buildings at this property. See Note 8, “Related Party Transactions - Purchase and Sale Agreement for Portfolio Sale” and Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (5) On August 26, 2016, the Company, through an indirect wholly-owned subsidiary, entered into a joint venture (the “Hardware Village Joint Venture”) to develop and subsequently operate a multifamily apartment complex, located on the developable land at Gateway Tech Center. The Company owns a 99.24% equity interest in the joint venture. In July 2018, one of the two buildings consisting of 267 units was placed into service. The total real estate, at cost, for the building that was placed into service was $69.9 million as of June 30, 2019 . As of June 30, 2019 , 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 Accenture Tower Chicago, IL 1,457,724 $ 366,787 11.2 % $ 30,001 $ 27.73 74.2 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 2019 , 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 office and office/retail properties are leased to tenants under operating leases for which the terms and expirations vary. As of June 30, 2019 , the leases had remaining terms, excluding options to extend, of up to 14.9 years with a weighted-average remaining term of 4.5 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, 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 $11.0 million and $11.8 million as of June 30, 2019 and December 31, 2018 , respectively. No material tenant credit issues have been identified at this time. During the six months ended June 30, 2019 , the Company recorded an adjustment to rental income of $1.4 million for lease payments that were deemed not probable of collection. During the six months ended June 30, 2019 and 2018 , the Company recorded bad debt (recovery) expense of $(0.3) million and $0.1 million , respectively, which was included in operating, maintenance and management expense in the accompanying consolidated statements of operations. During the six months ended June 30, 2019 and 2018 , the Company recognized deferred rent from tenants of $3.0 million and $4.9 million , respectively. As of June 30, 2019 and December 31, 2018 , the cumulative deferred rent balance was $97.8 million and $92.8 million , respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $17.8 million and $17.2 million of unamortized lease incentives as of June 30, 2019 and December 31, 2018 , respectively. As of June 30, 2019 , the future minimum rental income from the Company’s properties, excluding apartment leases, under its non-cancelable operating leases was as follows (in thousands): July 1, 2019 through December 31, 2019 $ 153,750 2020 306,971 2021 286,489 2022 255,234 2023 217,821 Thereafter 725,031 $ 1,945,296 As of June 30, 2019 , the Company’s office and office/retail properties were leased to 834 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 156 $ 60,059 18.8 % Real Estate 80 33,325 10.4 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 2019 , 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 June 30, 2019 , 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. Geographic Concentration Risk As of June 30, 2019 , the Company’s net investments in real estate in California, Texas and Illinois represented 19% , 15% and 11% 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 pay distributions to stockholders. Real Estate Sales During the six months ended June 30, 2019 , the Company did no t dispose of any real estate properties. In addition, no real estate properties were held for sale as of June 30, 2019 . During the year ended December 31, 2018 , the Company disposed of one office property. On November 6, 2014, the Company, through an indirect wholly owned subsidiary, acquired an office property containing 220,020 rentable square feet located on approximately 13.9 acres of land in Rocklin, California (“Rocklin Corporate Center”). On May 25, 2018, the Company sold Rocklin Corporate Center to a purchaser unaffiliated with the Company or the Advisor for $42.9 million before closing costs and credits. The carrying value of Rocklin Corporate Center as of the disposition date was $29.7 million , which was net of $6.0 million of accumulated depreciation and amortization. The Company recognized a gain on sale of $11.9 million related to the disposition of Rocklin Corporate Center. The results of operations for Rocklin Corporate Center during the six months ended June 30, 2018 are included in continuing operations on the Company’s consolidated statements of operations. The following table summarizes certain revenues and expenses related to this property for the three and six months ended June 30, 2018 (in thousands): For the Three Months Ended June 30, 2018 For the Six Months Ended June 30, 2018 Revenues Rental income $ 699 $ 1,886 Other operating income 1 26 Total revenues $ 700 $ 1,912 Expenses Operating, maintenance, and management $ 142 $ 462 Real estate taxes and insurance 71 213 Asset management fees to affiliate 62 127 Depreciation and amortization — — Interest expense 127 320 Total expenses $ 402 $ 1,122 Impairment of Real Estate During the six months ended June 30, 2019 , the Company recorded impairment charges of $8.7 million to write down the carrying value of an office/retail property to its estimated fair value as a result of changes in cash flow estimates, including a change to the anticipated hold period of the property, which triggered the future estimated undiscounted cash flows to be lower than the net carrying value of the property. The decrease in cash flow projections was primarily due to the continued lack of demand for the property’s retail component resulting in longer than estimated lease-up periods and lower projected rental rates.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 , 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 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Cost $ 202,342 $ 223,723 $ 9,883 $ 11,118 $ (36,682 ) $ (40,601 ) Accumulated Amortization (111,484 ) (117,955 ) (6,431 ) (6,942 ) 21,953 23,048 Net Amount $ 90,858 $ 105,768 $ 3,452 $ 4,176 $ (14,729 ) $ (17,553 ) 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 six months ended June 30, 2019 and 2018 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended June 30, For the Three Months Ended June 30, For the Three Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (7,209 ) $ (7,856 ) $ (347 ) $ (439 ) $ 1,499 $ 1,655 Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Six Months Ended June 30, For the Six Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (14,419 ) $ (15,998 ) $ (724 ) $ (895 ) $ 2,824 $ 3,482

NOTES PAYABLE

NOTES PAYABLE	6 Months Ended
	Jun. 30, 2019
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE As of June 30, 2019 and December 31, 2018 , the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of June 30, 2019 Book Value as of December 31, 2018 Contractual Interest Rate as of (1) Effective Interest Rate as of June 30, 2019 (1) Payment Type Maturity Date (2) Portfolio Loan (3) (4) $ 84,484 $ 84,484 One-month LIBOR + 1.90% 4.34% Interest Only 06/01/2020 222 Main Mortgage Loan (3) 96,518 97,522 3.97% 3.97% Principal & Interest 03/01/2021 Anchor Centre Mortgage Loan 49,345 49,647 One-month LIBOR + 1.50% 3.94% Principal & Interest 06/01/2020 171 17th Street Mortgage Loan (3) 84,045 84,460 One-month LIBOR + 1.45% 3.89% Principal & Interest 09/01/2019 Reston Square Mortgage Loan (3) 29,304 29,479 One-month LIBOR + 1.50% 3.87% Principal & Interest 02/01/2020 101 South Hanley Mortgage Loan (3) 43,651 43,090 One-month LIBOR + 1.55% 3.94% Principal & Interest 01/01/2020 3003 Washington Boulevard Mortgage Loan (5) — 90,378 (5) (5) (5) (5) 201 17th Street Mortgage Loan (6) 64,428 64,428 One-month LIBOR + 1.40% 3.62% Interest Only 08/01/2019 CrossPoint at Valley Forge Mortgage Loan (3) (7) 51,000 51,000 One-month LIBOR + 1.50% 3.33% Interest Only (7) 09/01/2022 The Almaden Mortgage Loan 93,000 93,000 4.20% 4.20% Interest Only 01/01/2022 Promenade I & II at Eilan Mortgage Loan (3) 37,300 37,300 One-month LIBOR + 1.75% 3.57% Interest Only 10/01/2022 201 Spear Street Mortgage Loan 125,000 125,000 One-month LIBOR + 1.45% 3.88% Interest Only 01/05/2024 Carillon Mortgage Loan (8) 111,000 92,197 One-month LIBOR + 1.40% 3.31% Interest Only 04/11/2024 3001 Washington Boulevard Mortgage Loan (9) — 32,662 (9) (9) (9) (9) Hardware Village Loan Facility (10) 63,626 49,664 One-month LIBOR + 3.25% 5.67% Interest Only 02/23/2020 Portfolio Loan Facility (11) 932,500 893,500 One-month LIBOR + 1.80% 3.84% Interest Only 11/03/2020 Village Center Station II Loan (3) 77,875 78,343 One-month LIBOR + 1.70% 4.14% Principal & Interest 03/01/2022 Portfolio Revolving Loan Facility (12) 200,000 200,000 One-month LIBOR + 1.50% 3.77% Interest Only 11/01/2021 3001 & 3003 Washington Mortgage Loan (7) (13) 143,245 — One-month LIBOR + 1.45% 3.89% Interest Only (7) 06/01/2024 Total notes payable principal outstanding 2,286,321 2,196,154 Deferred financing costs, net (10,553 ) (11,616 ) Total notes payable, net $ 2,275,768 $ 2,184,538 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 (consisting of the contractual interest rate and the effect of interest rate swaps and caps, if applicable), using interest rate indices as of June 30, 2019 , where applicable. For further information regarding the Company's derivative instruments, see Note 6, “Derivative Instruments.” (2) Represents the maturity date as of June 30, 2019 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the dates shown. (3) In connection with the Portfolio Sale on July 18, 2019 , the Company repaid the entire principal balance and all other sums due under this loan. See Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (4) As of June 30, 2019 , the Portfolio Loan was secured by Tower on Lake Carolyn, Park Place Village and Village Center Station. The face amount of the Portfolio Loan is $169.0 million , of which $84.5 million is term debt and $84.5 million is revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $84.5 million , all of which was term debt. (5) On May 21, 2019 , the 3003 Washington Boulevard Mortgage Loan was paid off when the Company entered into the 3001 & 3003 Washington Mortgage Loan. See below, “Recent Financing Transactions - 3001 & 3003 Washington Mortgage Loan.” (6) Subsequent to June 30, 2019 , the 201 17th Street Mortgage Loan maturity date was extended to August 1, 2020. (7) Represents the payment type required as of June 30, 2019 . Certain future monthly payments due under the loan also include amortizing principal payments. For more information on the Company’s contractual obligations under its notes payable, see the five-year maturity table below. (8) See below, “Recent Financing Transactions - Carillon Mortgage Loan Refinancing.” (9) On February 1, 2019 , the 3001 Washington Boulevard Mortgage Loan was paid off. (10) As of June 30, 2019 , $63.6 million had been disbursed under the Hardware Village Loan Facility and $10.4 million remained available for future disbursements, subject to certain conditions contained in the loan documents. (11) As of June 30, 2019 , the Portfolio Loan Facility was secured by RBC Plaza, Preston Commons, Sterling Plaza, One Washingtonian Center, Towers at Emeryville, Ten Almaden, Town Center and Accenture Tower. The face amount of the Portfolio Loan Facility was $1.01 billion , of which $757.5 million was term debt and $252.5 million was revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $757.5 million of term debt and $175.0 million of revolving debt. As of June 30, 2019 , an additional $77.5 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. During the remaining term of the Portfolio Loan Facility, the Company has an option to increase the loan amount by up to an additional $400.0 million in increments of $25.0 million , to a maximum of $1.41 billion , of which 75% would be term debt and 25% would be revolving debt, subject to certain conditions contained in the loan documents. In connection with the sale of One Washingtonian Center and a building at Towers at Emeryville on July 18, 2019 , the Company repaid a portion of the principal balance under this loan. As a result, the revised face amount of the Portfolio Loan Facility is $912.3 million , of which $684.2 million is term debt and $228.1 million is revolving debt. Subsequent to the repayment, the outstanding balance under the loan consisted of $684.2 million of term debt and the additional $228.1 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. See Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (12) As of June 30, 2019 , the Portfolio Revolving Loan Facility was secured by 515 Congress, Domain Gateway, the McEwen Building, and Gateway Tech Center. The face amount of the Portfolio Loan Facility is $215.0 million , of which $107.5 million is term debt and $107.5 million is revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $107.5 million of term debt and $92.5 million of revolving debt. As of June 30, 2019 , the remaining $15.0 million of revolving debt remained available for future disbursements upon the Company meeting certain conditions set forth in the loan agreement. During the remaining term of the Portfolio Revolving Loan Facility, the Company has an option to increase the committed amount of the Portfolio Revolving Loan Facility up to four times with each increase of the committed amount to be at least $15.0 million but no greater than, in the aggregate, an additional $170.0 million so that the committed amount will not exceed $385.0 million , of which 50% would be non-revolving debt and 50% would be revolving debt, with the addition of one or more properties to secure the loan, subject to certain terms and conditions contained in the loan documents. (13) See below, “Recent Financing Transactions - 3001 & 3003 Washington Mortgage Loan.” As of June 30, 2019 , the Company’s deferred financing costs were $13.0 million , net of amortization, of which $10.6 million was included in notes payable, net and $2.4 million was included in prepaid expenses and other assets on the accompanying consolidated balance sheets. As of December 31, 2018 , the Company’s deferred financing costs were $11.7 million , net of amortization, of which $11.6 million was included in notes payable, net and $0.1 million was included in prepaid expenses and other assets on the accompanying consolidated balance sheets. During the three and six months ended June 30, 2019 , the Company incurred $47.4 million and $85.4 million of interest expense, respectively. During the three and six months ended June 30, 2018 , the Company incurred $12.5 million and $13.3 million of interest expense, respectively. Included in interest expense was: (i) the amortization of deferred financing costs of $1.6 million and $3.2 million for the three and six months ended June 30, 2019 , respectively, and $1.6 million and $3.3 million for the three and six months ended June 30, 2018 , respectively, and (ii) interest expense (including gains and losses) incurred as a result of the Company’s derivative instruments, which increased interest expense by $22.0 million and $35.3 million for the three and six months ended June 30, 2019 , respectively, and reduced interest expense by $7.2 million and $24.1 million for the three and six months ended June 30, 2018 , respectively. Additionally, the Company capitalized $0.6 million and $1.1 million of interest related to construction in progress during the three and six months ended June 30, 2019 , respectively, and $1.1 million and $2.1 million of interest related to construction in progress during the three and six months ended June 30, 2018 , respectively. As of June 30, 2019 and December 31, 2018 , $7.4 million and $6.8 million of interest expense were payable, respectively. The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of June 30, 2019 (in thousands): July 1, 2019 through December 31, 2019 $ 150,723 2020 1,205,338 2021 294,894 2022 256,121 2023 — Thereafter 379,245 $ 2,286,321 The Company’s notes payable contain financial debt covenants. As of June 30, 2019 , the Company was in compliance with these debt covenants. Recent Financing Transactions Carillon Mortgage Loan Refinancing On April 11, 2019, the Company, through an indirect wholly owned subsidiary, entered into an amended and restated term loan agreement with the lender of the Carillon Mortgage Loan to increase the aggregate borrowing commitment amount to up to $111.0 million (the “Carillon Mortgage Loan Refinancing”), of which $88.8 million is term debt and $22.2 million is revolving debt. At closing, $111.0 million was funded. The Carillon Mortgage Loan Refinancing matures on April 11, 2024, with one 24 -month extension option, subject to certain terms, conditions and fees as described in the loan documents. The Company will have the right to prepay all or a portion of the Carillon Mortgage Loan Refinancing, subject to certain conditions contained in the loan documents. 3001 & 3003 Washington Mortgage Loan On May 21, 2019, the Company, through an indirect wholly owned subsidiary (the “3001 & 3003 Washington Borrower”), entered into a five -year mortgage loan with an unaffiliated lender, for a committed amount of up to $145.2 million (the “3001 & 3003 Washington Mortgage Loan”). At closing, $143.2 million was funded under the 3001 & 3003 Washington Mortgage Loan with an additional $2.0 million available through two $1.0 million earn-out advances upon satisfaction of certain conditions set forth in the loan documents. The 3001 & 3003 Washington Mortgage Loan matures on June 1, 2024. The 3001 & 3003 Washington Mortgage Loan bears interest at a floating rate of 145 basis points over one-month LIBOR during the term of the loan. Monthly payments are initially interest only, with monthly payments commencing on June 1, 2022 to include principal and interest with principal payments calculated using an amortization schedule of 30 years at an interest rate of 6.00% per annum. The 3001 & 3003 Washington Borrower has the right to repay the loan in part and in whole without fee, premium or penalty subject to certain conditions as described in the loan documents. Under the guaranty agreement related to 3001 & 3003 Washington Mortgage Loan (the “Guaranty”), KBS REIT Properties III, LLC (“REIT Properties III”) (i) provides a guaranty of, among other sums described in the Guaranty, all principal and interest outstanding under the 3001 & 3003 Washington Mortgage Loan in the event of certain bankruptcy or insolvency proceedings involving REIT Properties III, any 3001 & 3003 Washington Borrower or any of their affiliates and (ii) guarantees payment of, and agrees to protect, defend, indemnify and hold harmless each lender for, from and against, any deficiency, loss or damage suffered by any lender because of (a) certain intentional acts committed by any 3001 & 3003 Washington Borrower or (b) certain bankruptcy or insolvency proceedings involving REIT Properties III, any 3001 & 3003 Washington Borrower or any of their affiliates, as such acts are described in the Guaranty.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 . 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): June 30, 2019 December 31, 2018 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 June 30, 2019 Derivative instruments not designated as hedging instruments Interest rate swaps 12 $ 1,375,574 14 $ 1,208,957 One-month LIBOR/ 2.14% 3.1 Interest rate cap — $ — 1 $ 100,000 — —% — 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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest rate swaps (1) Prepaid expenses and other assets, at fair value — $ — 14 $ 15,909 Interest rate swaps (1) Other liabilities, at fair value 12 $ (22,445 ) — $ — Interest rate cap Prepaid expenses and other assets, at fair value — $ — 1 $ — _____________________ (1) During the six months ended June 30, 2019 , the Company terminated two interest rate swaps and realized a gain of $0.5 million , which was recorded as an offset to interest expense. 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 are 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 June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Income statement related Derivatives designated as hedging instruments Amount of (income) expense recognized on interest rate swaps (effective portion) $ — $ (96 ) $ — $ (108 ) — (96 ) — (108 ) Derivatives not designated as hedging instruments Realized (gain) loss recognized on interest rate swaps (1,238 ) 201 (2,627 ) 1,309 Unrealized loss (gain) on interest rate swaps 23,280 (7,289 ) 37,899 (25,326 ) 22,042 (7,088 ) 35,272 (24,017 ) Increase (decrease) in interest expense as a result of derivatives $ 22,042 $ (7,184 ) $ 35,272 $ (24,125 ) Other comprehensive income related Unrealized (losses) income on derivative instruments $ — $ (1 ) $ — $ 83 During the three and six months ended June 30, 2019 and 2018 , there was no ineffective portion related to the change in fair value of the derivative instruments designated as cash flow hedges.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2019
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, restricted cash, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. 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 notes payable as of June 30, 2019 and December 31, 2018 , which carrying amounts generally do not approximate the fair values (in thousands): June 30, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 2,286,321 $ 2,275,768 $ 2,295,347 $ 2,196,154 $ 2,184,538 $ 2,202,587 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 June 30, 2019 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Liability derivatives - interest rate swaps $ 22,445 $ — $ 22,445 $ — As of March 31, 2019 , the Company measured the following asset at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Nonrecurring Basis: Impaired real estate (1) $ 103,000 $ — $ — $ 103,000 _____________________ (1) Amount represents the fair value for a real estate asset impacted by an impairment charge during the year, as of the date that the fair value measurement was made. The carrying value for the real estate asset may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. See Note 3, “Real Estate – Impairment of Real Estate” for a further discussion on the impaired real estate property. During the six months ended June 30, 2019 , one of the Company’s real estate properties was measured at its estimated fair value based on a discounted cash flow approach. See Note 3, “Real Estate – Impairment of Real Estate” for a further discussion on the impaired real estate property.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2019
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/or the Dealer Manager to specified fees upon the provision of certain services with regard to the Offering and reimbursement of organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company 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/or the Dealer Manager to reimbursement of offering costs related to the dividend reinvestment plan incurred by the Advisor and the Dealer Manager on behalf of the Company 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 or served as the advisor and dealer manager, respectively, for KBS Real Estate Investment Trust, Inc. (“KBS REIT I”) (which liquidated in December 2018), KBS Real Estate Investment Trust II, Inc. (“KBS REIT II”), KBS Strategic Opportunity REIT, Inc. (“KBS Strategic Opportunity REIT”), KBS Legacy Partners Apartment REIT, Inc. (“KBS Legacy Partners Apartment REIT”) (which liquidated in December 2018), KBS Strategic Opportunity REIT II, Inc. (“KBS Strategic Opportunity REIT II”) and KBS Growth & Income REIT, Inc. (“KBS Growth & Income REIT”). As of January 1, 2018, the Company, together with KBS REIT II, KBS Growth & Income REIT, KBS Strategic Opportunity REIT, KBS Legacy Partners Apartment REIT, KBS Strategic Opportunity REIT II, the Dealer Manager, the Advisor and other KBS-affiliated entities, had entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage were 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. At the June 2018 renewal, KBS Strategic Opportunity REIT, KBS Strategic Opportunity REIT II and Legacy Partners Apartment REIT elected to cease participation in the program and obtained separate insurance coverage. In June 2019, the Company renewed its participation in the program. The program is effective through June 30, 2020. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and six months ended June 30, 2019 and 2018 , respectively, and any related amounts payable as of June 30, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, 2019 2018 2019 2018 2019 2018 Expensed Asset management fees (1) $ 6,999 $ 6,738 $ 13,871 $ 13,358 $ 2,314 $ 2,559 Reimbursement of operating expenses (2) (3) 636 956 1,163 1,102 1,378 734 Disposition fees (4) — 429 — 429 — — Capitalized Acquisition fee on development project 88 110 133 179 1,049 916 Acquisition fee on unconsolidated joint venture — 69 — 162 — — $ 7,723 $ 8,302 $ 15,167 $ 15,230 $ 4,741 $ 4,209 _____________________ (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 $78,000 and $148,000 for the three and six months ended June 30, 2019 , respectively, and $85,000 and $173,000 for the three and six months ended June 30, 2018 , respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2019 and 2018 , 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. (3) Reimbursement of operating expenses includes $0.6 million and $1.0 million of costs incurred related to the Portfolio Sale for the three and six months ended June 30, 2019 , respectively. The Company and the Advisor had agreed to evenly divide certain costs and expenses related to the Portfolio Sale. These costs include legal, audit, tax, printing and other out of pocket costs that the Company incurred related to the Portfolio Sale, which were reimbursable by the Purchaser upon the closing of the Portfolio Sale on July 18, 2019. (4) Disposition fees with respect to real estate sold are included in the gain on sale of real estate, net, in the accompanying consolidated statements of operations. In connection with the Offering, Messrs. Bren, Hall, McMillan and Schreiber 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 Messrs. Bren, Hall, McMillan and Schreiber’s obligations under this indemnification agreement in exchange for reimbursement by Messrs. Bren, Hall, McMillan and Schreiber to the Company for all costs, expenses and premiums related to this supplemental coverage. During the six months ended June 30, 2018 , the Advisor reimbursed the Company for a $0.2 million property insurance rebate. 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 Institute for Portfolio Alternatives (formerly known as the Investment Program Association) 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, 2018 , the Company had accrued and deferred payment of $2.6 million of asset management fees under the Advisory Agreement, which were subsequently paid in February 2019. As of June 30, 2019 , the Company had $2.3 million of asset management fees payable related to asset management fees incurred for the month of June 2019, which were subsequently paid in July 2019 . Lease to Affiliate On May 29, 2015, the indirect wholly owned subsidiary (the “Lessor”) of the Company that owns 3003 Washington Boulevard entered into a lease with an affiliate of the Advisor (the “Lessee”) 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 June 30, 2019 , adjusted to straight-line any contractual tenant concessions (including free rent) and rent increases from the lease’s inception through the balance of the initial lease term, for this lease is approximately $0.2 million , and the average annual rental rate (net of rental abatements) over the lease term is $46.38 per square foot. On March 14, 2019, the Lessor entered into a First Amendment to Deed of Lease with the Lessee to extend the lease period commencing on September 1, 2019 and terminating on August 31, 2024 (the “Amended Lease”) and set the annual base rent during the extension period. The annualized base rent from the commencement of the Amended Lease is approximately $0.3 million , and the average annual rental rate (net of rental abatements) over the term of the Amended Lease through its termination is $62.55 per square foot. During the three and six months ended June 30, 2019 , the Company recognized $60,000 and $120,000 of revenue related to this lease, respectively. During the three and six months ended June 30, 2018 , the Company recognized $60,000 and $120,000 of revenue related to this lease, respectively. Prior to their approval of the lease and the Amended Lease, the Company’s conflicts committee and board of directors determined the lease to be fair and reasonable to the Company. Purchase and Sale Agreement for Portfolio Sale On June 27, 2019, the Company, through 12 wholly owned subsidiaries, entered into a Portfolio Purchase and Sale Agreement and Escrow Instructions (the “Purchase Agreement”) pursuant to which the Company agreed to sell the Portfolio (as defined below in Note 10 “Subsequent Events - Portfolio Sale and Related Transactions”) to various subsidiaries of a newly formed real estate investment trust (the “Purchaser”) (the “Portfolio Sale”). The Purchaser is affiliated with Charles J. Schreiber, Jr., the Company’s Chief Executive Officer, Chairman of the Board and one of the Company’s directors. As part of the Portfolio Sale, on June 27, 2019, REIT Properties III entered into a Subscription Agreement (the “Subscription Agreement”) with the Purchaser’s Manager (defined below) to subscribe for $201.0 million of the units to be issued by the Purchaser. Subsequent to June 30, 2019, an additional $70 million of units was subscribed for by REIT III Properties under the placement tranche of the Purchaser’s offering. Pursuant to a set-off agreement entered on June 27, 2019, the Company agreed that the Purchaser may deduct from the aggregate purchase price due from the Purchaser under the Purchase Agreement the subscription amount to be paid by REIT Properties III for the units under the Subscription Agreement. The Purchaser is externally managed by a joint venture (the “Manager”) among KBS Asia Partners Pte. Ltd., an entity in which Charles J. Schreiber, Jr. currently holds an indirect 50% ownership interest, and other entities unaffiliated with the Company. The Purchaser is expected to pay the Manager an annual base fee of 10% of annual distributable income and an annual performance fee of 25% of the increase in distributions per unit of the Purchaser from the preceding year; however, there would not be any performance fee for 2019 and in 2020 such fee will be based on an increase over projected distributions per unit. In addition, for future acquisitions, the Purchaser will pay the Manager an acquisition fee of 1% of the acquisition price of any real estate acquired. No acquisition fee will be paid with respect to the Purchaser’s acquisition of the Portfolio. The Purchaser will also pay the Manager a divestment fee of 0.5% of the sale price of any real estate sold or divested and a development management fee of 3% of the total project costs incurred for development projects, to the extent the Purchaser acquires a development project. A small portion of these fees paid to the Manager will be paid to KBS Realty Advisors LLC, an affiliate of the Advisor and an entity controlled by Mr. Schreiber, for sub-advisory services. The Schreiber Trust, a trust whose beneficiaries are Charles J. Schreiber, Jr. and his family members, and the Linda Bren 2017 Trust will subscribe for units to be issued by the Purchaser. In addition, Barbara R. Cambon, one of the Company’s former directors, accepted the positions of Chief Executive Officer and Chief Investment Officer of the Manager and will receive compensation for her services. In connection with her acceptance of these positions, Ms. Cambon resigned from the Company’s board of directors effective June 26, 2019. See Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” During the six months ended June 30, 2019 and 2018 , no other business transactions occurred between the Company and KBS REIT I, KBS REIT II, KBS Strategic Opportunity REIT, KBS Legacy Partners Apartment REIT, KBS Strategic Opportunity REIT II, KBS Growth & Income REIT, the Advisor, the Dealer Manager or other KBS-affiliated entities.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 .

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2019
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 July 1, 2019, the Company paid distributions of $9.5 million , which related to distributions in the amount of $0.05416667 per share of common stock to stockholders of record as of the close of business on June 18, 2019. On August 1, 2019, the Company paid distributions of $9.5 million , which related to distributions in the amount of $0.05416667 per share of common stock to stockholders of record as of the close of business on July 19, 2019. Distributions Authorized On August 8, 2019, the Company’s board of directors authorized an August 2019 distribution in the amount of $0.05416667 per share of common stock to stockholders of record as of the close of business on August 19, 2019, which the Company expects to pay in September 2019, and a September 2019 distribution in the amount of $0.05416667 per share of common stock to stockholders of record as of the close of business on September 20, 2019, which the Company expects to pay in October 2019. Investors may choose to receive cash distributions or purchase additional shares through the Company’s dividend reinvestment plan. Portfolio Sale and Related Transactions On July 18, 2019, the Company, through 12 wholly owned subsidiaries, sold 11 of its properties (the “Portfolio”) to various subsidiaries of the Purchaser. The sale price of the Portfolio was $1.2 billion , before third-party closing costs and credits of approximately $16.1 million and excluding any disposition fees payable to the Advisor. The Portfolio consists of the following properties: Tower I at Emeryville, Emeryville, California; 222 Main, Salt Lake City, Utah; Village Center Station, Greenwood Village, Colorado; Village Center Station II, Greenwood Village, Colorado; 101 South Hanley, St. Louis, Missouri; Tower on Lake Carolyn, Irving, Texas; Promenade I & II at Eilan, San Antonio, Texas; CrossPoint at Valley Forge, Wayne, Pennsylvania; One Washingtonian Center, Gaithersburg, Maryland; Reston Square, Reston, Virginia; and 171 17th Street, Atlanta, Georgia. In connection with the Portfolio Sale, the Company repaid $613.1 million of outstanding debt secured by the properties in the Portfolio. Pursuant to a set-off agreement, as amended, $271.0 million of the consideration payable by the Purchaser under the Purchase Agreement was set-off against REIT Properties III’s payment obligations for its two subscriptions for units in the Purchaser: (i) the $201 million of units subscribed for by REIT Properties III pursuant to the Subscription Agreement, as amended, and (ii) $70 million of units subscribed for by REIT Properties III under the placement tranche of the Purchaser’s offering. As such, on July 19, 2019, REIT Properties III acquired 307,953,999 units in the Purchaser at an aggregate price of $271 million representing a 33.3% ownership interest in the Purchaser. Currently, the Purchaser does not own any properties other than the Portfolio. Also on July 15, 2019, REIT Properties III entered into a placement agreement (the “Placement Agreement”) and unit lending agreement (the “Unit Lending Agreement”) with respect to an offering of units of the Purchaser. REIT Properties III is a party to the Placement Agreement as unit lender, and pursuant to the Placement Agreement, REIT Properties III has granted the underwriters in the offering an over-allotment option (the “Over-Allotment Option”) in which REIT Properties III agreed to sell to the underwriters up to 22,727,000 of REIT Properties III’s units in the Purchaser at the offering price. The Over-Allotment Option is exercisable for up to 30 days after the listing of the units of the Purchaser. Any units purchased pursuant to the Over-Allotment Option would reduce REIT Properties III’s ownership interest in the Purchaser. Pursuant to the Unit Lending Agreement, REIT Properties III agreed to lend the 22,727,000 units subject to the Over-Allotment Option to the stabilizing manager of the offering for the purpose of facilitating the settlement of the over-allotment of units in connection with the Purchaser’s offering. The stabilizing manager will re-deliver to REIT Properties III such number of units that are not purchased pursuant to the exercise of the Over-Allotment Option. On July 8, 2019, the Company, the Operating Partnership, REIT Holdings III and REIT Properties III (collectively, the “REIT III Entities”) entered into lock-up letter agreements with the underwriters whereby each of the REIT III Entities agreed to hold 100% of REIT Properties III’s units in the Purchaser for six months following the listing of the Purchaser and to hold 50% of REIT Properties III’s units in the Purchaser for 12 months following the listing of the Purchaser. During the respective lock-up periods, without the prior written consent of the underwriters and other than pursuant to the Over-Allotment Option or lending for stabilizing transactions pursuant to the Unit Lending Agreement (described above), the REIT III Entities may not offer, sell, pledge, option, grant any rights or warrants, or enter into any swap, hedge or other similar arrangement that transfers to another, in whole or in part, any of the economic consequences of ownership of the units held by REIT Properties III. The units in the Purchaser have not been and will not be registered under the Securities Act of 1933, as amended (the “Securities Act”), and may not be offered or sold in the United States except pursuant to an exemption from, or in a transaction not subject to, the registration requirements of the Securities Act. Accordingly, with the exception of the units sold to REIT Properties III, The Schreiber Trust and the Linda Bren 2017 Trust, the units of the Purchaser are being offered and sold only outside the United States in an offshore transaction pursuant to Regulation S under the Securities Act. Share Redemption Program See Part II, Item 5 “Other Information,” for updated information about the Company’s share redemption program.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2019
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 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 six months ended June 30, 2019 are not necessarily indicative of the results that may be expected for the year ending December 31, 2019 .
Principles of Consolidation	The consolidated financial statements include the accounts of the Company, REIT Holdings III, the Operating Partnership, 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 prior periods. Upon adoption of the lease accounting standards of Topic 842 on January 1, 2019 (described below), the Company accounted for tenant reimbursements for property taxes, insurance and common area maintenance as variable lease payments and recorded these amounts as rental income on the statement of operations. For the three and six months ended June 30, 2018 , the Company reclassified $19.4 million and $37.1 million , respectively, of tenant reimbursement revenue for property taxes, insurance, and common area maintenance to rental income for comparability purposes.
Revenue Recognition - Operating Leases	Real Estate On January 1, 2019, the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019. The Company’s comparative periods presented in the financial statements will continue to be reported under the lease accounting standards of Topic 840. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations beginning January 1, 2019. In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations beginning January 1, 2019. The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. The Company leases apartment units under operating leases with terms generally of one year or less. Generally, credit investigations will be performed for prospective residents and security deposits will be obtained. The Company recognizes rental revenue, net of concessions, on a straight-line basis over the term of the lease, when collectibility is determined to be probable. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and tenant reimbursements and would recognize rental income only if cash is received. Beginning January 1, 2019, these changes to the Company’s collectibility assessment are reflected as an adjustment to rental income. Prior to January 1, 2019, bad debt expense related to uncollectible accounts receivable and deferred rent receivable was included in operating, maintenance, and management expense in the statement of operations. Any subsequent changes to the collectibility of the allowance for doubtful accounts as of December 31, 2018, which was recorded prior to the adoption of Topic 842, are recorded in operating, maintenance, and management expense in the statement of operations. Beginning January 1, 2019, the Company, as a lessor, records costs to negotiate or arrange a lease that would have been incurred regardless of whether the lease was obtained, such as legal costs incurred to negotiate an operating lease, as an expense and classifies such costs as operating, maintenance, and management expense on the Company’s consolidated statement of operations, as these costs are no longer capitalizable under the definition of initial direct costs under Topic 842.
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 six months ended June 30, 2019 and 2018 , respectively.
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 June 30, 2019 , the Company aggregated its investments in real estate properties into one reportable business segment.
Square Footage, Occupancy and Other Measures	Square footage, occupancy, number of tenants and other measures, including annualized base rent and annualized base rent per square foot, used to describe real estate investments included in these condensed notes to the consolidated financial statements 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 June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses of Financial Instruments (“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 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework -Changes to the Disclosure Requirements for Fair Value Measurement (“ASU No. 2018-13”). The primary focus of ASU 2018-13 is to improve the effectiveness of the disclosure requirements for fair value measurements. ASU No. 2018-13 removes the requirement to disclose the amount of and reasons for transfers between Level 1 and Level 2 of the fair value hierarchy, the policy for the timing of transfers between levels and the valuation processes for Level 3 fair value measurements. It also adds a requirement to disclose changes in unrealized gains and losses for the period included in other comprehensive income for recurring Level 3 fair value measurements held at the end of the reporting period and to disclose the range and weighted average of significant unobservable inputs used to develop recurring and nonrecurring Level 3 fair value measurements. For certain unobservable inputs, entities may disclose other quantitative information in lieu of the weighted average if the other quantitative information would be a more reasonable and rational method to reflect the distribution of unobservable inputs used to develop the Level 3 fair value measurement. In addition, public entities are required to provide information about the measurement uncertainty of recurring Level 3 fair value measurements from the use of significant unobservable inputs if those inputs reasonably could have been different at the reporting date. ASU No. 2018-13 is effective for annual periods beginning after December 15, 2019, including interim periods within those fiscal years. Entities are permitted to early adopt either the entire standard or only the provisions that eliminate or modify the requirements. The amendments on changes in unrealized gains and losses, the range and weighted average of significant unobservable inputs used to develop Level 3 fair value measurements, and the narrative description of measurement uncertainty should be applied prospectively for only the most recent interim or annual period presented in the initial fiscal year of adoption. All other amendments should be applied retrospectively to all periods presented upon their effective date. The Company is still evaluating the impact of adopting ASU No. 2018-13 on its financial statements.

REAL ESTATE (Tables)

REAL ESTATE (Tables)	6 Months Ended
	Jun. 30, 2019
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s investments in real estate as of June 30, 2019 (in thousands): Property Date Acquired City State Property Type Total Real Estate, (1) Accumulated Depreciation and Amortization (1) Total Real Estate, Net (1) Domain Gateway 09/29/2011 Austin TX Office $ 49,574 $ (15,014 ) $ 34,560 Town Center 03/27/2012 Plano TX Office 114,355 (28,443 ) 85,912 McEwen Building 04/30/2012 Franklin TN Office 36,316 (8,213 ) 28,103 Gateway Tech Center 05/09/2012 Salt Lake City UT Office 27,466 (7,281 ) 20,185 Tower on Lake Carolyn (2) 12/21/2012 Irving TX Office 53,253 (13,509 ) 39,744 RBC Plaza 01/31/2013 Minneapolis MN Office 153,078 (41,459 ) 111,619 One Washingtonian Center (2) 06/19/2013 Gaithersburg MD Office 93,273 (20,763 ) 72,510 Preston Commons 06/19/2013 Dallas TX Office 119,772 (25,623 ) 94,149 Sterling Plaza 06/19/2013 Dallas TX Office 79,452 (15,099 ) 64,353 201 Spear Street 12/03/2013 San Francisco CA Office 145,279 (17,364 ) 127,915 Accenture Tower (3) 12/16/2013 Chicago IL Office 444,835 (78,048 ) 366,787 222 Main (2) 02/27/2014 Salt Lake City UT Office 165,839 (33,968 ) 131,871 Anchor Centre 05/22/2014 Phoenix AZ Office 96,005 (16,874 ) 79,131 171 17th Street (2) 08/25/2014 Atlanta GA Office 135,156 (30,975 ) 104,181 Reston Square (2) 12/03/2014 Reston VA Office 46,785 (9,781 ) 37,004 Ten Almaden 12/05/2014 San Jose CA Office 126,187 (20,658 ) 105,529 Towers at Emeryville (4) 12/23/2014 Emeryville CA Office 285,882 (37,940 ) 247,942 101 South Hanley (2) 12/24/2014 St. Louis MO Office 72,730 (13,460 ) 59,270 3003 Washington Boulevard 12/30/2014 Arlington VA Office 151,059 (22,884 ) 128,175 Village Center Station (2) 05/20/2015 Greenwood Village CO Office 76,240 (11,756 ) 64,484 Park Place Village 06/18/2015 Leawood KS Office/Retail 100,493 (1,182 ) 99,311 201 17th Street 06/23/2015 Atlanta GA Office 102,090 (16,597 ) 85,493 Promenade I & II at Eilan (2) 07/14/2015 San Antonio TX Office 62,720 (11,051 ) 51,669 CrossPoint at Valley Forge (2) 08/18/2015 Wayne PA Office 90,412 (13,739 ) 76,673 515 Congress 08/31/2015 Austin TX Office 120,875 (14,889 ) 105,986 The Almaden 09/23/2015 San Jose CA Office 174,118 (19,587 ) 154,531 3001 Washington Boulevard 11/06/2015 Arlington VA Office 60,717 (5,994 ) 54,723 Carillon 01/15/2016 Charlotte NC Office 152,949 (19,875 ) 133,074 Hardware Village (5) 08/26/2016 Salt Lake City UT Development/Apartment 121,437 (3,014 ) 118,423 Village Center Station II (2) 10/11/2018 Greenwood Village CO Office 132,112 (4,209 ) 127,903 $ 3,590,459 $ (579,249 ) $ 3,011,210 ___________________ (1) Amounts presented are net of impairment charges. (2) On July 18, 2019 , the Company sold this property. See Note 8, “Related Party Transactions - Purchase and Sale Agreement for Portfolio Sale” and Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (3) This property was formerly known as 500 West Madison and was re-named Accenture Tower in connection with the Company’s re-branding strategy for this property. (4) On July 18, 2019 , the Company sold one of the three buildings at this property. See Note 8, “Related Party Transactions - Purchase and Sale Agreement for Portfolio Sale” and Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (5) On August 26, 2016, the Company, through an indirect wholly-owned subsidiary, entered into a joint venture (the “Hardware Village Joint Venture”) to develop and subsequently operate a multifamily apartment complex, located on the developable land at Gateway Tech Center. The Company owns a 99.24% equity interest in the joint venture. In July 2018, one of the two buildings consisting of 267 units was placed into service. The total real estate, at cost, for the building that was placed into service was $69.9 million as of June 30, 2019 .
Schedules of Concentration of Risk, by Risk Factor	As of June 30, 2019 , 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 Accenture Tower Chicago, IL 1,457,724 $ 366,787 11.2 % $ 30,001 $ 27.73 74.2 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 2019 , 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 June 30, 2019 , the Company’s office and office/retail properties were leased to 834 tenants over a diverse range of industries and geographic areas. The Company’s highest tenant industry concentrations (greater than 10% of annualized base rent) were as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Finance 156 $ 60,059 18.8 % Real Estate 80 33,325 10.4 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of June 30, 2019 , 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 June 30, 2019 , the future minimum rental income from the Company’s properties, excluding apartment leases, under its non-cancelable operating leases was as follows (in thousands): July 1, 2019 through December 31, 2019 $ 153,750 2020 306,971 2021 286,489 2022 255,234 2023 217,821 Thereafter 725,031 $ 1,945,296
Schedule of Revenue and Expenses of Real Estate Held-for-Sale	The results of operations for Rocklin Corporate Center during the six months ended June 30, 2018 are included in continuing operations on the Company’s consolidated statements of operations. The following table summarizes certain revenues and expenses related to this property for the three and six months ended June 30, 2018 (in thousands): For the Three Months Ended June 30, 2018 For the Six Months Ended June 30, 2018 Revenues Rental income $ 699 $ 1,886 Other operating income 1 26 Total revenues $ 700 $ 1,912 Expenses Operating, maintenance, and management $ 142 $ 462 Real estate taxes and insurance 71 213 Asset management fees to affiliate 62 127 Depreciation and amortization — — Interest expense 127 320 Total expenses $ 402 $ 1,122

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 , 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 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 June 30, 2019 December 31, 2018 Cost $ 202,342 $ 223,723 $ 9,883 $ 11,118 $ (36,682 ) $ (40,601 ) Accumulated Amortization (111,484 ) (117,955 ) (6,431 ) (6,942 ) 21,953 23,048 Net Amount $ 90,858 $ 105,768 $ 3,452 $ 4,176 $ (14,729 ) $ (17,553 )
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 six months ended June 30, 2019 and 2018 were as follows (in thousands): Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Three Months Ended June 30, For the Three Months Ended June 30, For the Three Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (7,209 ) $ (7,856 ) $ (347 ) $ (439 ) $ 1,499 $ 1,655 Tenant Origination and Absorption Costs Above-Market Lease Assets Below-Market Lease Liabilities For the Six Months Ended June 30, For the Six Months Ended June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 2019 2018 Amortization $ (14,419 ) $ (15,998 ) $ (724 ) $ (895 ) $ 2,824 $ 3,482

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2019
Notes Payable [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2019 and December 31, 2018 , the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of June 30, 2019 Book Value as of December 31, 2018 Contractual Interest Rate as of (1) Effective Interest Rate as of June 30, 2019 (1) Payment Type Maturity Date (2) Portfolio Loan (3) (4) $ 84,484 $ 84,484 One-month LIBOR + 1.90% 4.34% Interest Only 06/01/2020 222 Main Mortgage Loan (3) 96,518 97,522 3.97% 3.97% Principal & Interest 03/01/2021 Anchor Centre Mortgage Loan 49,345 49,647 One-month LIBOR + 1.50% 3.94% Principal & Interest 06/01/2020 171 17th Street Mortgage Loan (3) 84,045 84,460 One-month LIBOR + 1.45% 3.89% Principal & Interest 09/01/2019 Reston Square Mortgage Loan (3) 29,304 29,479 One-month LIBOR + 1.50% 3.87% Principal & Interest 02/01/2020 101 South Hanley Mortgage Loan (3) 43,651 43,090 One-month LIBOR + 1.55% 3.94% Principal & Interest 01/01/2020 3003 Washington Boulevard Mortgage Loan (5) — 90,378 (5) (5) (5) (5) 201 17th Street Mortgage Loan (6) 64,428 64,428 One-month LIBOR + 1.40% 3.62% Interest Only 08/01/2019 CrossPoint at Valley Forge Mortgage Loan (3) (7) 51,000 51,000 One-month LIBOR + 1.50% 3.33% Interest Only (7) 09/01/2022 The Almaden Mortgage Loan 93,000 93,000 4.20% 4.20% Interest Only 01/01/2022 Promenade I & II at Eilan Mortgage Loan (3) 37,300 37,300 One-month LIBOR + 1.75% 3.57% Interest Only 10/01/2022 201 Spear Street Mortgage Loan 125,000 125,000 One-month LIBOR + 1.45% 3.88% Interest Only 01/05/2024 Carillon Mortgage Loan (8) 111,000 92,197 One-month LIBOR + 1.40% 3.31% Interest Only 04/11/2024 3001 Washington Boulevard Mortgage Loan (9) — 32,662 (9) (9) (9) (9) Hardware Village Loan Facility (10) 63,626 49,664 One-month LIBOR + 3.25% 5.67% Interest Only 02/23/2020 Portfolio Loan Facility (11) 932,500 893,500 One-month LIBOR + 1.80% 3.84% Interest Only 11/03/2020 Village Center Station II Loan (3) 77,875 78,343 One-month LIBOR + 1.70% 4.14% Principal & Interest 03/01/2022 Portfolio Revolving Loan Facility (12) 200,000 200,000 One-month LIBOR + 1.50% 3.77% Interest Only 11/01/2021 3001 & 3003 Washington Mortgage Loan (7) (13) 143,245 — One-month LIBOR + 1.45% 3.89% Interest Only (7) 06/01/2024 Total notes payable principal outstanding 2,286,321 2,196,154 Deferred financing costs, net (10,553 ) (11,616 ) Total notes payable, net $ 2,275,768 $ 2,184,538 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2019 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2019 (consisting of the contractual interest rate and the effect of interest rate swaps and caps, if applicable), using interest rate indices as of June 30, 2019 , where applicable. For further information regarding the Company's derivative instruments, see Note 6, “Derivative Instruments.” (2) Represents the maturity date as of June 30, 2019 ; subject to certain conditions, the maturity dates of certain loans may be extended beyond the dates shown. (3) In connection with the Portfolio Sale on July 18, 2019 , the Company repaid the entire principal balance and all other sums due under this loan. See Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (4) As of June 30, 2019 , the Portfolio Loan was secured by Tower on Lake Carolyn, Park Place Village and Village Center Station. The face amount of the Portfolio Loan is $169.0 million , of which $84.5 million is term debt and $84.5 million is revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $84.5 million , all of which was term debt. (5) On May 21, 2019 , the 3003 Washington Boulevard Mortgage Loan was paid off when the Company entered into the 3001 & 3003 Washington Mortgage Loan. See below, “Recent Financing Transactions - 3001 & 3003 Washington Mortgage Loan.” (6) Subsequent to June 30, 2019 , the 201 17th Street Mortgage Loan maturity date was extended to August 1, 2020. (7) Represents the payment type required as of June 30, 2019 . Certain future monthly payments due under the loan also include amortizing principal payments. For more information on the Company’s contractual obligations under its notes payable, see the five-year maturity table below. (8) See below, “Recent Financing Transactions - Carillon Mortgage Loan Refinancing.” (9) On February 1, 2019 , the 3001 Washington Boulevard Mortgage Loan was paid off. (10) As of June 30, 2019 , $63.6 million had been disbursed under the Hardware Village Loan Facility and $10.4 million remained available for future disbursements, subject to certain conditions contained in the loan documents. (11) As of June 30, 2019 , the Portfolio Loan Facility was secured by RBC Plaza, Preston Commons, Sterling Plaza, One Washingtonian Center, Towers at Emeryville, Ten Almaden, Town Center and Accenture Tower. The face amount of the Portfolio Loan Facility was $1.01 billion , of which $757.5 million was term debt and $252.5 million was revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $757.5 million of term debt and $175.0 million of revolving debt. As of June 30, 2019 , an additional $77.5 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. During the remaining term of the Portfolio Loan Facility, the Company has an option to increase the loan amount by up to an additional $400.0 million in increments of $25.0 million , to a maximum of $1.41 billion , of which 75% would be term debt and 25% would be revolving debt, subject to certain conditions contained in the loan documents. In connection with the sale of One Washingtonian Center and a building at Towers at Emeryville on July 18, 2019 , the Company repaid a portion of the principal balance under this loan. As a result, the revised face amount of the Portfolio Loan Facility is $912.3 million , of which $684.2 million is term debt and $228.1 million is revolving debt. Subsequent to the repayment, the outstanding balance under the loan consisted of $684.2 million of term debt and the additional $228.1 million of revolving debt remained available for immediate future disbursements, subject to certain conditions set forth in the loan agreement. See Note 10, “Subsequent Events - Portfolio Sale and Related Transactions” for more information. (12) As of June 30, 2019 , the Portfolio Revolving Loan Facility was secured by 515 Congress, Domain Gateway, the McEwen Building, and Gateway Tech Center. The face amount of the Portfolio Loan Facility is $215.0 million , of which $107.5 million is term debt and $107.5 million is revolving debt. As of June 30, 2019 , the outstanding balance under the loan consisted of $107.5 million of term debt and $92.5 million of revolving debt. As of June 30, 2019 , the remaining $15.0 million of revolving debt remained available for future disbursements upon the Company meeting certain conditions set forth in the loan agreement. During the remaining term of the Portfolio Revolving Loan Facility, the Company has an option to increase the committed amount of the Portfolio Revolving Loan Facility up to four times with each increase of the committed amount to be at least $15.0 million but no greater than, in the aggregate, an additional $170.0 million so that the committed amount will not exceed $385.0 million , of which 50% would be non-revolving debt and 50% would be revolving debt, with the addition of one or more properties to secure the loan, subject to certain terms and conditions contained in the loan documents. (13) See below, “Recent Financing Transactions - 3001 & 3003 Washington Mortgage Loan.”
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 June 30, 2019 (in thousands): July 1, 2019 through December 31, 2019 $ 150,723 2020 1,205,338 2021 294,894 2022 256,121 2023 — Thereafter 379,245 $ 2,286,321

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	6 Months Ended
	Jun. 30, 2019
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 June 30, 2019 and December 31, 2018 . 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): June 30, 2019 December 31, 2018 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 June 30, 2019 Derivative instruments not designated as hedging instruments Interest rate swaps 12 $ 1,375,574 14 $ 1,208,957 One-month LIBOR/ 2.14% 3.1 Interest rate cap — $ — 1 $ 100,000 — —% —
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 June 30, 2019 and December 31, 2018 (dollars in thousands): June 30, 2019 December 31, 2018 Derivative Instruments Balance Sheet Location Number of Instruments Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest rate swaps (1) Prepaid expenses and other assets, at fair value — $ — 14 $ 15,909 Interest rate swaps (1) Other liabilities, at fair value 12 $ (22,445 ) — $ — Interest rate cap Prepaid expenses and other assets, at fair value — $ — 1 $ — _____________________ (1) During the six months ended June 30, 2019 , the Company terminated two interest rate swaps and realized a gain of $0.5 million , which was recorded as an offset to interest expense.
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 June 30, For the Six Months Ended June 30, 2019 2018 2019 2018 Income statement related Derivatives designated as hedging instruments Amount of (income) expense recognized on interest rate swaps (effective portion) $ — $ (96 ) $ — $ (108 ) — (96 ) — (108 ) Derivatives not designated as hedging instruments Realized (gain) loss recognized on interest rate swaps (1,238 ) 201 (2,627 ) 1,309 Unrealized loss (gain) on interest rate swaps 23,280 (7,289 ) 37,899 (25,326 ) 22,042 (7,088 ) 35,272 (24,017 ) Increase (decrease) in interest expense as a result of derivatives $ 22,042 $ (7,184 ) $ 35,272 $ (24,125 ) Other comprehensive income related Unrealized (losses) income on derivative instruments $ — $ (1 ) $ — $ 83

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2019
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 notes payable as of June 30, 2019 and December 31, 2018 , which carrying amounts generally do not approximate the fair values (in thousands): June 30, 2019 December 31, 2018 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 2,286,321 $ 2,275,768 $ 2,295,347 $ 2,196,154 $ 2,184,538 $ 2,202,587
Fair Value, Assets Measured on Recurring Basis	As of June 30, 2019 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Liability derivatives - interest rate swaps $ 22,445 $ — $ 22,445 $ —
Fair Value, Assets Measured on Nonrecurring Basis	As of March 31, 2019 , the Company measured the following asset at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets (Level 1) Significant Other Observable Inputs (Level 2) Significant Unobservable Inputs (Level 3) Nonrecurring Basis: Impaired real estate (1) $ 103,000 $ — $ — $ 103,000 _____________________ (1) Amount represents the fair value for a real estate asset impacted by an impairment charge during the year, as of the date that the fair value measurement was made. The carrying value for the real estate asset may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. See Note 3, “Real Estate – Impairment of Real Estate” for a further discussion on the impaired real estate property.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2019
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 six months ended June 30, 2019 and 2018 , respectively, and any related amounts payable as of June 30, 2019 and December 31, 2018 (in thousands): Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, 2019 2018 2019 2018 2019 2018 Expensed Asset management fees (1) $ 6,999 $ 6,738 $ 13,871 $ 13,358 $ 2,314 $ 2,559 Reimbursement of operating expenses (2) (3) 636 956 1,163 1,102 1,378 734 Disposition fees (4) — 429 — 429 — — Capitalized Acquisition fee on development project 88 110 133 179 1,049 916 Acquisition fee on unconsolidated joint venture — 69 — 162 — — $ 7,723 $ 8,302 $ 15,167 $ 15,230 $ 4,741 $ 4,209 _____________________ (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 $78,000 and $148,000 for the three and six months ended June 30, 2019 , respectively, and $85,000 and $173,000 for the three and six months ended June 30, 2018 , respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2019 and 2018 , 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. (3) Reimbursement of operating expenses includes $0.6 million and $1.0 million of costs incurred related to the Portfolio Sale for the three and six months ended June 30, 2019 , respectively. The Company and the Advisor had agreed to evenly divide certain costs and expenses related to the Portfolio Sale. These costs include legal, audit, tax, printing and other out of pocket costs that the Company incurred related to the Portfolio Sale, which were reimbursable by the Purchaser upon the closing of the Portfolio Sale on July 18, 2019. (4) Disposition fees with respect to real estate sold are included in the gain on sale of real estate, net, in the accompanying consolidated statements of operations.

ORGANIZATION (Details)

ORGANIZATION (Details) $ / shares in Units, $ in Thousands	Oct. 03, 2014USD ($)shares	Jun. 30, 2019USD ($)propertyshares	Jun. 30, 2018USD ($)shares	Jun. 30, 2019USD ($)propertyshares	Jun. 30, 2018USD ($)shares	May 29, 2016USD ($)shares	Jun. 30, 2019USD ($)propertyshares	Dec. 31, 2018shares	Jan. 26, 2010$ / 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 (in shares)		175,001,561		175,001,561			175,001,561	177,523,853
Issuance of common stock | $		$ 12,974	$ 14,228	$ 26,471	$ 28,501
Redemptions of common stock | $		$ 2,944	$ 33,587	$ 55,550	$ 93,371
Private Placement
Organizational Structure [Line Items]
Issuance of common stock (in shares)	258,462
Issuance of common stock | $	$ 2,400
Office Properties
Organizational Structure [Line Items]
Number of real estate properties | property		28		28			28
Mixed-use Office/Retail Property
Organizational Structure [Line Items]
Number of real estate properties | property		1		1			1
Common Stock
Organizational Structure [Line Items]
Shares held by affiliate (in shares)		20,000		20,000			20,000
Issuance of common stock (in shares)		1,136,045	1,276,061	2,317,868	2,556,146	169,006,162
Issuance of common stock | $		$ 11	$ 12	$ 23	$ 25	$ 1,700,000
Shares of common stock sold under dividend reinvestment plan, shares							30,244,405
Shares of common stock sold under dividend reinvestment plan, value | $							$ 307,300
Redemptions of common stock (in shares)		245,178	2,995,169	4,840,160	8,146,679		24,527,469
Redemptions of common stock | $		$ 2	$ 29	$ 48	$ 81		$ 266,000
KBS Capital Advisors LLC
Organizational Structure [Line Items]
Common stock, shares issued (in shares)									20,000
Common stock, purchase price per share (in dollars per share) | $ / shares									$ 10

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) $ / shares in Units, $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)$ / sharesshares	Jun. 30, 2018$ / sharesshares	Jun. 30, 2019USD ($)segment$ / sharesshares	Jun. 30, 2018$ / sharesshares
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Potentially dilutive securities | shares	0	0	0	0
Distributions declared per share (in dollars per share)	$ 0.1625	$ 0.164	$ 0.3250	$ 0.322
Distribution rate per share per day, declared (in dollars per share)	$ 0.0541667	$ 0.00178082	$ 0.0541667	$ 0.00178082
Number of reportable segments | segment			1
Accounting Standards Update 2016-02
Revenue, Initial Application Period Cumulative Effect Transition [Line Items]
Tenant reimbursement revenue | $	$ 19.4		$ 37.1

REAL ESTATE (Narrative) (Detail

REAL ESTATE (Narrative) (Details) $ in Thousands, ft² in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2019USD ($)ft²property	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)ft²property	Jun. 30, 2018USD ($)
Real Estate Properties [Line Items]
Rentable square feet | ft²	11.2		11.2
Percentage of portfolio occupied	90.00%		90.00%
Impairment charges on real estate | $	$ 0	$ 0	$ 8,706	$ 0
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties	28		28
Mixed-use Office/Retail Property
Real Estate Properties [Line Items]
Number of real estate properties	1		1
Held for Investment | Office Properties
Real Estate Properties [Line Items]
Number of real estate properties	28		28

REAL ESTATE (Schedule of Real E

REAL ESTATE (Schedule of Real Estate Investments) (Details) $ in Thousands	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)	Jul. 31, 2018unit	Aug. 26, 2016
Real Estate Properties [Line Items]
Total Real Estate at Cost	$ 3,590,459	$ 3,573,511
Accumulated Depreciation and Amortization	(579,249)	(536,990)
Total real estate held for investment, net	3,011,210	$ 3,036,521
Domain Gateway | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	49,574
Accumulated Depreciation and Amortization	(15,014)
Total real estate held for investment, net	34,560
Town Center | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	114,355
Accumulated Depreciation and Amortization	(28,443)
Total real estate held for investment, net	85,912
McEwen Building | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	36,316
Accumulated Depreciation and Amortization	(8,213)
Total real estate held for investment, net	28,103
Gateway Tech Center | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	27,466
Accumulated Depreciation and Amortization	(7,281)
Total real estate held for investment, net	20,185
Tower on Lake Carolyn (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	53,253
Accumulated Depreciation and Amortization	(13,509)
Total real estate held for investment, net	39,744
RBC Plaza | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	153,078
Accumulated Depreciation and Amortization	(41,459)
Total real estate held for investment, net	111,619
One Washingtonian Center (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	93,273
Accumulated Depreciation and Amortization	(20,763)
Total real estate held for investment, net	72,510
Preston Commons | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	119,772
Accumulated Depreciation and Amortization	(25,623)
Total real estate held for investment, net	94,149
Sterling Plaza | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	79,452
Accumulated Depreciation and Amortization	(15,099)
Total real estate held for investment, net	64,353
201 Spear Street | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	145,279
Accumulated Depreciation and Amortization	(17,364)
Total real estate held for investment, net	127,915
Accenture Tower | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	444,835
Accumulated Depreciation and Amortization	(78,048)
Total real estate held for investment, net	366,787
222 Main (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	165,839
Accumulated Depreciation and Amortization	(33,968)
Total real estate held for investment, net	131,871
Anchor Centre | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	96,005
Accumulated Depreciation and Amortization	(16,874)
Total real estate held for investment, net	79,131
171 17th Street (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	135,156
Accumulated Depreciation and Amortization	(30,975)
Total real estate held for investment, net	104,181
Reston Square (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	46,785
Accumulated Depreciation and Amortization	(9,781)
Total real estate held for investment, net	37,004
Ten Almaden | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	126,187
Accumulated Depreciation and Amortization	(20,658)
Total real estate held for investment, net	105,529
Towers at Emeryville (4) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	285,882
Accumulated Depreciation and Amortization	(37,940)
Total real estate held for investment, net	247,942
101 South Hanley (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	72,730
Accumulated Depreciation and Amortization	(13,460)
Total real estate held for investment, net	59,270
3003 Washington Boulevard | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	151,059
Accumulated Depreciation and Amortization	(22,884)
Total real estate held for investment, net	128,175
Village Center Station (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	76,240
Accumulated Depreciation and Amortization	(11,756)
Total real estate held for investment, net	64,484
Park Place Village | Office/Retail
Real Estate Properties [Line Items]
Total Real Estate at Cost	100,493
Accumulated Depreciation and Amortization	(1,182)
Total real estate held for investment, net	99,311
201 17th Street | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	102,090
Accumulated Depreciation and Amortization	(16,597)
Total real estate held for investment, net	85,493
Promenade I & II at Eilan (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	62,720
Accumulated Depreciation and Amortization	(11,051)
Total real estate held for investment, net	51,669
CrossPoint at Valley Forge (2) | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	90,412
Accumulated Depreciation and Amortization	(13,739)
Total real estate held for investment, net	76,673
515 Congress | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	120,875
Accumulated Depreciation and Amortization	(14,889)
Total real estate held for investment, net	105,986
The Almaden | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	174,118
Accumulated Depreciation and Amortization	(19,587)
Total real estate held for investment, net	154,531
3001 Washington Boulevard | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	60,717
Accumulated Depreciation and Amortization	(5,994)
Total real estate held for investment, net	54,723
Carillon | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	152,949
Accumulated Depreciation and Amortization	(19,875)
Total real estate held for investment, net	133,074
Hardware Village | Joint Venture
Real Estate Properties [Line Items]
Equity interest in joint venture				99.24%
Hardware Village | Development/Apartment
Real Estate Properties [Line Items]
Total Real Estate at Cost	121,437
Accumulated Depreciation and Amortization	(3,014)
Total real estate held for investment, net	118,423
Hardware Village, West | Joint Venture
Real Estate Properties [Line Items]
Total Real Estate at Cost	69,900
Number of units in real estate property | unit			267
Village Center Station II | Office Properties
Real Estate Properties [Line Items]
Total Real Estate at Cost	132,112
Accumulated Depreciation and Amortization	(4,209)
Total real estate held for investment, net	$ 127,903

REAL ESTATE (Properties Represe

REAL ESTATE (Properties Represented More than 10% of Company’s Total Assets) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)ft²$ / ft²	Dec. 31, 2018USD ($)
Real Estate Properties [Line Items]
Rentable Square Feet | ft²	11,200,000
Total Real Estate, Net	$ 3,011,210	$ 3,036,521
Occupancy	90.00%
Accenture Tower | Assets, Total
Real Estate Properties [Line Items]
Rentable Square Feet | ft²	1,457,724
Total Real Estate, Net	$ 366,787
Percentage of Total Assets	11.20%
Annualized Base Rent	$ 30,001
Average Annualized Base Rent per sq. ft. | $ / ft²	27.73
Occupancy	74.20%

REAL ESTATE (Operating Leases)

REAL ESTATE (Operating Leases) (Narrative) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)tenant	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Operating Leased Assets [Line Items]
Bad debt expense	$ 0	$ 110
Deferred rent recognized	3,026	4,947
Deferred rent receivables	97,800		$ 92,800
Incentive to Lessee	$ 17,800		17,200
Number of tenants | tenant	834
Lease Revenue
Operating Leased Assets [Line Items]
Bad debt expense	$ 1,400
Cost of Real Estate Revenue
Operating Leased Assets [Line Items]
Bad debt expense	(300)	$ 100
Other liabilities, at fair value
Operating Leased Assets [Line Items]
Security deposit liability	$ 11,000		$ 11,800
Maximum
Operating Leased Assets [Line Items]
Operating lease, term	14 years 10 months 18 days
Weighted Average
Operating Leased Assets [Line Items]
Operating lease, term	4 years 6 months 16 days

REAL ESTATE (Future Minimum Ren

REAL ESTATE (Future Minimum Rental Income) (Details) $ in Thousands	Jun. 30, 2019USD ($)
Real Estate [Abstract]
July 1, 2019 through December 31, 2019	$ 153,750
2020	306,971
2021	286,489
2022	255,234
2023	217,821
Thereafter	725,031
Future minimum rental income	$ 1,945,296

REAL ESTATE (Highes Tenant Indu

REAL ESTATE (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants	834
Finance
Concentration Risk [Line Items]
Number of Tenants	156
Annualized Base Rent | $	$ 60,059
Percentage of Annualized Base Rent	18.80%
Real Estate
Concentration Risk [Line Items]
Number of Tenants	80
Annualized Base Rent | $	$ 33,325
Percentage of Annualized Base Rent	10.40%

REAL ESTATE REAL ESTATE (Geogra

REAL ESTATE REAL ESTATE (Geographic Concentration Risk) (Narrative) (Details) - Assets, Total	6 Months Ended
	Jun. 30, 2019
California
Concentration Risk [Line Items]
Concentration risk, percentage	19.00%
Texas
Concentration Risk [Line Items]
Concentration risk, percentage	15.00%
Illinois
Concentration Risk [Line Items]
Concentration risk, percentage	11.00%

REAL ESTATE (Real Estate Sales

REAL ESTATE (Real Estate Sales - Narrative) (Details) $ in Thousands	May 25, 2018USD ($)	Jun. 30, 2019USD ($)property	Dec. 31, 2018USD ($)property	Nov. 06, 2014aft²property
Real Estate Properties [Line Items]
Total real estate held for investment, cost		$ 3,590,459	$ 3,573,511
Accumulated depreciation and amortization		$ 579,249	$ 536,990
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property		28
Rocklin Corporate Center | Office Properties
Real Estate Properties [Line Items]
Number of real estate properties acquired | property				1
Net rentable area | ft²				220,020
Area of land | a				13.9
Disposed of by Sale
Real Estate Properties [Line Items]
Number of real estate properties disposed | property		0	1
Disposed of by Sale | Rocklin Corporate Center
Real Estate Properties [Line Items]
Disposal group, consideration	$ 42,900
Total real estate held for investment, cost	29,700
Accumulated depreciation and amortization	6,000
Gain on sale of real estate	$ 11,900
Real Estate Held-for-sale
Real Estate Properties [Line Items]
Number of real estate properties | property		0

REAL ESTATE (Revenue and Expens

REAL ESTATE (Revenue and Expenses of Real Estate Sales) (Details) - Disposed of by Sale - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Revenues
Rental income	$ 699	$ 1,886
Other operating income	1	26
Total revenues	700	1,912
Expenses
Operating, maintenance, and management	142	462
Real estate taxes and insurance	71	213
Asset management fees to affiliate	62	127
Depreciation and amortization	0	0
Interest expense	127	320
Total expenses	$ 402	$ 1,122

TENANT ORIGINATION AND ABSORP_3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Cost	$ 202,342		$ 202,342		$ 223,723
Tenant Origination and Absorption Costs, Accumulated Amortization	(111,484)		(111,484)		(117,955)
Tenant Origination and Absorption Costs, Net Amount	90,858		90,858		105,768
Tenant Origination and Absorption Costs, Amortization expense	(7,209)	$ (7,856)	(14,419)	$ (15,998)
Above-Market Lease Assets, Cost	9,883		9,883		11,118
Above-Market Lease Assets, Accumulated Amortization	(6,431)		(6,431)		(6,942)
Above-Market Lease Assets, Net Amount	3,452		3,452		4,176
Above-Market Lease Assets, Amortization expense	(347)	(439)	(724)	(895)
Below-Market Lease Liabilities, Cost	(36,682)		(36,682)		(40,601)
Below-Market Lease Liabilities, Accumulated Amortization	21,953		21,953		23,048
Below-Market Lease Liabilities, Net Amount	(14,729)		(14,729)		$ (17,553)
Below-Market Lease Liabilities, Amortization expense	$ 1,499	$ 1,655	$ 2,824	$ 3,482

NOTES PAYABLE (Schedule of Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details)	May 21, 2019USD ($)	Jun. 30, 2019USD ($)option	Jul. 18, 2019USD ($)	Apr. 11, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 2,286,321,000			$ 2,196,154,000
Deferred financing costs, net		(10,553,000)			(11,616,000)
Total notes payable, net		2,275,768,000			2,184,538,000
Portfolio Loan | Secured Debt
Debt Instrument [Line Items]
Total notes payable, net		84,500,000
Carillon Mortgage Loan | Secured Debt
Debt Instrument [Line Items]
Total notes payable, net				$ 88,800,000
Maximum borrowing capacity				111,000,000
Loan, amount outstanding				111,000,000
Portfolio Loan Facility | Secured Debt
Debt Instrument [Line Items]
Total notes payable, net		757,500,000
Portfolio Loan Facility | Secured Debt | Subsequent Event
Debt Instrument [Line Items]
Total notes payable, net			$ 684,200,000
Portfolio Revolving Loan Facility | Secured Debt
Debt Instrument [Line Items]
Total notes payable, net		107,500,000
Mortgages | Portfolio Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 84,484,000			84,484,000
Effective Interest Rate		4.34%
Mortgages | Portfolio Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.90%
Mortgages | 222 Main Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 96,518,000			97,522,000
Stated percentage		3.97%
Effective Interest Rate		3.97%
Mortgages | Anchor Centre Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 49,345,000			49,647,000
Effective Interest Rate		3.94%
Mortgages | Anchor Centre Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Mortgages | 171 17th Street Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 84,045,000			84,460,000
Effective Interest Rate		3.89%
Mortgages | 171 17th Street Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.45%
Mortgages | Reston Square Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 29,304,000			29,479,000
Effective Interest Rate		3.87%
Mortgages | Reston Square Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Mortgages | 101 South Hanley Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 43,651,000			43,090,000
Effective Interest Rate		3.94%
Mortgages | 101 South Hanley Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.55%
Mortgages | 3003 Washington Boulevard Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 0			90,378,000
Mortgages | 201 17th Street Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 64,428,000			64,428,000
Effective Interest Rate		3.62%
Mortgages | 201 17th Street Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.40%
Mortgages | CrossPoint at Valley Forge Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 51,000,000			51,000,000
Effective Interest Rate		3.33%
Mortgages | CrossPoint at Valley Forge Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Mortgages | The Almaden Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 93,000,000			93,000,000
Stated percentage		4.20%
Effective Interest Rate		4.20%
Mortgages | Promenade I & II at Eilan Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 37,300,000			37,300,000
Effective Interest Rate		3.57%
Mortgages | Promenade I & II at Eilan Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.75%
Mortgages | 201 Spear Street Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 125,000,000			125,000,000
Effective Interest Rate		3.88%
Mortgages | 201 Spear Street Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.45%
Mortgages | Carillon Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 111,000,000			92,197,000
Effective Interest Rate		3.31%
Mortgages | Carillon Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.40%
Mortgages | 3001 Washington Boulevard Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 0			32,662,000
Mortgages | Hardware Village Loan Facility
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 63,626,000			49,664,000
Effective Interest Rate		5.67%
Loan, amount outstanding		$ 63,600,000
Unused borrowing capacity, amount		$ 10,400,000
Mortgages | Hardware Village Loan Facility | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		3.25%
Mortgages | Portfolio Loan Facility
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 932,500,000			893,500,000
Effective Interest Rate		3.84%
Mortgages | Portfolio Loan Facility | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.80%
Mortgages | Village Center Station II Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 77,875,000			78,343,000
Effective Interest Rate		4.14%
Mortgages | Village Center Station II Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.70%
Mortgages | Portfolio Revolving Loan Facility
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 200,000,000			200,000,000
Effective Interest Rate		3.77%
Mortgages | Portfolio Revolving Loan Facility | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.50%
Mortgages | 3001 & 3003 Washington Mortgage Loan
Debt Instrument [Line Items]
Total notes payable principal outstanding		$ 143,245,000			$ 0
Stated percentage	6.00%
Effective Interest Rate		3.89%
Maximum borrowing capacity	$ 145,200,000
Loan, amount outstanding	143,200,000
Unused borrowing capacity, amount	$ 2,000,000
Mortgages | 3001 & 3003 Washington Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%	1.45%
Secured Debt | Portfolio Loan
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 169,000,000
Loan, amount outstanding		84,500,000
Secured Debt | Portfolio Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		84,500,000
Secured Debt | Carillon Mortgage Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 22,200,000
Secured Debt | Portfolio Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		1,010,000,000
Loan, amount outstanding		757,500,000
Potential maximum borrowing capacity		1,410,000,000
Additional increase		400,000,000
Increments of increase		25,000,000
Secured Debt | Portfolio Loan Facility | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity			912,300,000
Loan, amount outstanding			684,200,000
Secured Debt | Portfolio Loan Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		252,500,000
Loan, amount outstanding		175,000,000
Unused borrowing capacity, amount		$ 77,500,000
Maximum borrowing capacity, percentage		25.00%
Secured Debt | Portfolio Loan Facility | Revolving Credit Facility | Subsequent Event
Debt Instrument [Line Items]
Maximum borrowing capacity			228,100,000
Unused borrowing capacity, amount			$ 228,100,000
Secured Debt | Portfolio Loan Facility | Non-Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity, percentage		75.00%
Secured Debt | Portfolio Revolving Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		$ 215,000,000
Loan, amount outstanding		$ 107,500,000
Number of options to increase committed amount | option		4
Potential aggregate borrowing capacity		$ 170,000,000
Secured Debt | Portfolio Revolving Loan Facility | Minimum
Debt Instrument [Line Items]
Potential borrowing capacity		15,000,000
Secured Debt | Portfolio Revolving Loan Facility | Maximum
Debt Instrument [Line Items]
Potential borrowing capacity		385,000,000
Secured Debt | Portfolio Revolving Loan Facility | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity		107,500,000
Loan, amount outstanding		92,500,000
Secured Debt | Portfolio Revolving Loan Facility | Revolving Credit Facility | Upon Meeting Certain Financial Coverage Ratio
Debt Instrument [Line Items]
Unused borrowing capacity, amount		$ 15,000,000
Secured Debt | Portfolio Revolving Loan Facility | Non-Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity, percentage		50.00%

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Debt Instrument [Line Items]
Deferred costs, noncurrent	$ 13,000		$ 13,000		$ 11,700
Interest expense	47,403	$ 12,517	85,350	$ 13,327
Amortization of deferred financing costs			3,185	3,091
(Decrease) increase in interest expense incurred as a result of derivative instruments	22,000	(7,200)	35,300	(24,100)
Interest capitalized			1,067	2,150
Interest payable, current	7,400		7,400		6,800
Construction in Progress
Debt Instrument [Line Items]
Interest capitalized	600	1,100	1,100	2,100
Interest Expense
Debt Instrument [Line Items]
Amortization of deferred financing costs	1,600	$ 1,600	3,200	$ 3,300
Notes Payable
Debt Instrument [Line Items]
Deferred costs, noncurrent	10,600		10,600		11,600
Prepaid expenses and other assets, at fair value
Debt Instrument [Line Items]
Deferred costs, noncurrent	$ 2,400		$ 2,400		$ 100

NOTES PAYABLE (Schedule of Matu

NOTES PAYABLE (Schedule of Maturities of Long-term Debt) (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Notes Payable [Abstract]
July 1, 2019 through December 31, 2019	$ 150,723
2020	1,205,338
2021	294,894
2022	256,121
2023	0
Thereafter	379,245
Total notes payable	$ 2,286,321	$ 2,196,154

NOTES PAYABLE (Recent Financing

NOTES PAYABLE (Recent Financing Transactions) (Details)	Apr. 11, 2019USD ($)extension	Jun. 30, 2019USD ($)	Dec. 31, 2018USD ($)
Debt Instrument [Line Items]
Long-term debt		$ 2,275,768,000	$ 2,184,538,000
Carillon Mortgage Loan | Secured Debt
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 111,000,000
Long-term debt	88,800,000
Loan, amount outstanding	$ 111,000,000
Number of extensions | extension	1
Extension period	24 months
Carillon Mortgage Loan | Secured Debt | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 22,200,000

NOTES PAYABLE (3001 & 3003 Wash

NOTES PAYABLE (3001 & 3003 Washington Mortgage Loan) (Details) - 3001 & 3003 Washington Mortgage Loan - Mortgages $ in Millions	May 21, 2019USD ($)advance	Jun. 30, 2019
Debt Instrument [Line Items]
Long-term debt, term	5 years
Maximum borrowing capacity	$ 145.2
Loan, amount outstanding	143.2
Unused borrowing capacity, amount	$ 2
Number of earn-out advances | advance	2
Earn-out advance, amount	$ 1
Amortization schedule of mortgage loans on real estate	30 years
Stated percentage	6.00%
One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.45%	1.45%

DERIVATIVE INSTRUMENTS (Notiona

DERIVATIVE INSTRUMENTS (Notional Amount) (Details) - Derivative instruments not designated as hedging instruments $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)investment	Dec. 31, 2018USD ($)investment
Interest rate swaps
Derivative [Line Items]
Number of Instruments | investment	12	14
Notional Amount | $	$ 1,375,574	$ 1,208,957
Weighted-Average Fix Pay Rate	2.14%
Weighted-Average Remaining Term in Years	3 years 1 month 12 days
Interest rate swaps | Minimum | One-month LIBOR
Derivative [Line Items]
Reference Rate	1.67%
Interest rate swaps | Maximum | One-month LIBOR
Derivative [Line Items]
Reference Rate	2.51%
Interest rate cap
Derivative [Line Items]
Number of Instruments | investment	0	1
Notional Amount | $	$ 0	$ 100,000
Weighted-Average Fix Pay Rate	0.00%

DERIVATIVE INSTRUMENTS (Balance

DERIVATIVE INSTRUMENTS (Balance Sheet) (Details) - Derivative instruments not designated as hedging instruments $ in Thousands	6 Months Ended
	Jun. 30, 2019USD ($)investmentInvestments	Dec. 31, 2018USD ($)investmentInvestments
Interest rate swaps
Derivative [Line Items]
Number of Instruments | investment	12	14
Number of instruments terminated | Investments	2
Realized gain | $	$ 500
Interest rate cap
Derivative [Line Items]
Number of Instruments | investment	0	1
Prepaid expenses and other assets, at fair value | Interest rate swaps
Derivative [Line Items]
Number of Instruments | Investments	0	14
Asset, Fair Value | $	$ 0	$ 15,909
Prepaid expenses and other assets, at fair value | Interest rate cap
Derivative [Line Items]
Number of Instruments | Investments	0	1
Asset, Fair Value | $	$ 0	$ 0
Other liabilities, at fair value | Interest rate swaps
Derivative [Line Items]
Number of Instruments | Investments	12	0
Liability, Fair Value | $	$ (22,445)	$ 0

DERIVATIVE INSTRUMENTS (Stateme

DERIVATIVE INSTRUMENTS (Statement of Operations) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Derivative [Line Items]
Unrealized (losses) income on derivative instruments	$ 0	$ (1)	$ 0	$ 83
Derivative instruments designated as hedging instruments
Derivative [Line Items]
Amount of (income) expense recognized on interest rate swaps (effective portion)	0	(96)	0	(108)
Increase (decrease) in interest expense as a result of derivatives	0	(96)	0	(108)
Derivative instruments not designated as hedging instruments
Derivative [Line Items]
Increase (decrease) in interest expense as a result of derivatives	22,042	(7,184)	35,272	(24,125)
Derivative instruments not designated as hedging instruments | Interest rate swaps
Derivative [Line Items]
Amount of (income) expense recognized on interest rate swaps (effective portion)	(1,238)	201	(2,627)	1,309
Unrealized loss (gain) on interest rate swaps	23,280	(7,289)	37,899	(25,326)
Increase (decrease) in interest expense as a result of derivatives	$ 22,042	$ (7,088)	$ 35,272	$ (24,017)

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Jun. 30, 2019	Dec. 31, 2018
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Debt face amount	$ 2,286,321,000	$ 2,196,154,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	2,275,768,000	2,184,538,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	$ 2,295,347,000	$ 2,202,587,000

FAIR VALUE DISCLOSURES (Assets

FAIR VALUE DISCLOSURES (Assets and Liabilities at Fair value) (Details) - Recurring Basis: - Interest rate swaps $ in Thousands	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	$ 22,445
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	22,445
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivatives	$ 0

FAIR VALUE DISCLOSURES (Nonrecu

FAIR VALUE DISCLOSURES (Nonrecurring Basis) (Details) - Nonrecurring Basis: $ in Thousands	Jun. 30, 2019USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	$ 103,000
Quoted Prices in Active Markets for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	0
Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	0
Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	$ 103,000

RELATED PARTY TRANSACTIONS (Cos

RELATED PARTY TRANSACTIONS (Costs) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Payable as of	$ 4,741		$ 4,741		$ 4,209
Administrative fees, amount paid	78	$ 85	148	$ 173
Professional fees incurred related to the Portfolio Sale	600		1,000
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Incurred	7,723	8,302	15,167	15,230
Payable as of	4,741		4,741		4,209
Advisor and Dealer Manager | Asset management fees
Related Party Transaction [Line Items]
Expenses	6,999	6,738	13,871	13,358
Payable as of	2,314		2,314		2,559
Advisor and Dealer Manager | Reimbursement of operating expenses
Related Party Transaction [Line Items]
Expenses	636	956	1,163	1,102
Payable as of	1,378		1,378		734
Advisor and Dealer Manager | Disposition fees
Related Party Transaction [Line Items]
Expenses	0	429	0	429
Payable as of	0		0		0
Advisor and Dealer Manager | Acquisition fee on development project
Related Party Transaction [Line Items]
Incurred	88	110	133	179
Payable as of	1,049		1,049		916
Advisor and Dealer Manager | Acquisition fee on unconsolidated joint venture
Related Party Transaction [Line Items]
Incurred	0	$ 69	0	$ 162
Payable as of	$ 0		$ 0		$ 0

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) $ in Thousands	Mar. 14, 2019USD ($)$ / ft²	May 29, 2015USD ($)ft²$ / ft²	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Jun. 30, 2019USD ($)	Jun. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Related Party Transaction [Line Items]
Non-compounded return on net invested capital			8.00%		8.00%
Payable as of			$ 4,741		$ 4,741		$ 4,209
Affiliated Entity | Subsidiaries
Related Party Transaction [Line Items]
Net rentable area | ft²		5,046
Percent of total rentable square feet		2.40%
Annualized base rent	$ 300	$ 200
Average annualized base rent per square foot | $ / ft²	62.55	46.38
Rental income			60	$ 60	120	$ 120
KBS Capital Advisors LLC | Property Insurance Rebate
Related Party Transaction [Line Items]
Incurred						200
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Incurred			7,723	$ 8,302	15,167	$ 15,230
Payable as of			4,741		4,741		4,209
Advisor and Dealer Manager | Asset management fees
Related Party Transaction [Line Items]
Payable as of			$ 2,314		$ 2,314		$ 2,559

RELATED PARTY TRANSACTIONS (Pur

RELATED PARTY TRANSACTIONS (Purchase and Sale Agreement for Portfolio Sale) (Details) - Purchase and Sales Agreement $ in Millions	Jul. 18, 2019USD ($)subsidiary	Jun. 27, 2019USD ($)subsidiary
Related Party Transaction [Line Items]
Number of wholly owned subsidiaries (subsidiary) | subsidiary		12
Manager
Related Party Transaction [Line Items]
Annual base fee as percent of distributable income		10.00%
Annual performance fee as percent of increase of distributions per unit		25.00%
Acquisition fee as percent of acquisition price of real estate		1.00%
Dividend fee as percent of sale price of real estate		0.50%
Development management fee as percent of total project cost		3.00%
Subsequent Event
Related Party Transaction [Line Items]
Number of wholly owned subsidiaries (subsidiary) | subsidiary	12
Purchaser
Related Party Transaction [Line Items]
Units to be issued | $		$ 201
Purchaser | Subsequent Event
Related Party Transaction [Line Items]
Additional units to be issued | $	$ 70
Ownership percentage	50.00%

SUBSEQUENT EVENTS (Distribution

SUBSEQUENT EVENTS (Distributions) (Details) - USD ($) $ / shares in Units, $ in Millions	Aug. 01, 2019	Jul. 01, 2019	Sep. 30, 2019	Aug. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Subsequent Event [Line Items]
Distribution rate per share per day, declared (in dollars per share)					$ 0.0541667	$ 0.00178082	$ 0.0541667	$ 0.00178082
Dividend Authorized | Forecast
Subsequent Event [Line Items]
Distribution rate per share per day, declared (in dollars per share)			$ 0.05416667	$ 0.05416667
Subsequent Event | Dividend Paid
Subsequent Event [Line Items]
Dividends, common stock, cash	$ 9.5	$ 9.5
Distribution rate per share per day, declared (in dollars per share)	$ 0.05416667	$ 0.05416667

SUBSEQUENT EVENTS (Sales and Re

SUBSEQUENT EVENTS (Sales and Related Transactions) (Details) $ in Millions	Jul. 19, 2019USD ($)shares	Jul. 18, 2019USD ($)propertysubsidiary	Jul. 15, 2019shares	Jun. 30, 2019property	Dec. 31, 2018property	Jul. 08, 2019	Jun. 27, 2019subsidiary
Disposed of by Sale
Subsequent Event [Line Items]
Number of real estate properties disposed | property				0	1
Purchase and Sales Agreement
Subsequent Event [Line Items]
Number of wholly owned subsidiaries (subsidiary) | subsidiary							12
Subsequent Event | REIT Properties III | Over-Allotment Option
Subsequent Event [Line Items]
Units to be sold (in units) | shares			22,727,000
Exercisable period			30 days
Units to be end (in units) | shares			22,727,000
Subsequent Event | Purchase and Sales Agreement
Subsequent Event [Line Items]
Number of wholly owned subsidiaries (subsidiary) | subsidiary		12
Subsequent Event | Purchase and Sales Agreement | REIT Properties III
Subsequent Event [Line Items]
Units issued		$ 201
Units acquired (in units) | shares	307,953,999
Units acquired	$ 271
Units acquired, percent	33.30%
Subsequent Event | Purchase and Sales Agreement | REIT Properties III | Placement Tranche
Subsequent Event [Line Items]
Units issued		70
Subsequent Event | Purchase and Sales Agreement | REIT Properties III | For Six Months Following the Listing of the Purchaser
Subsequent Event [Line Items]
Percent of units to be hold						100.00%
Subsequent Event | Purchase and Sales Agreement | REIT Properties III | For Twelve Months Following the Listing of the Purchaser
Subsequent Event [Line Items]
Percent of units to be hold						50.00%
Subsequent Event | Purchase and Sales Agreement | Portfolio
Subsequent Event [Line Items]
Extinguishment of debt, amount		$ 613.1
Subsequent Event | Purchase and Sales Agreement | Portfolio | Disposed of by Sale
Subsequent Event [Line Items]
Number of real estate properties disposed | property		11
Disposal group, consideration		$ 1,200
Closing costs and credits		16.1
Subsequent Event | Purchase and Sales Agreement | Portfolio | Disposed of by Sale | REIT Properties III
Subsequent Event [Line Items]
Disposal group, consideration		$ 271