Pacific Oak Strategic Opportunity Reit Ii 10-Q 11 Aug 15 2015 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2015	Aug. 04, 2015
Document and Entity Information [Abstract]
Entity Registrant Name	KBS Strategic Opportunity REIT II, Inc.
Entity Central Index Key	1,580,673
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Document Type	10-Q
Document Period End Date	Jun. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		5,947,704

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Assets
Real estate, net	$ 40,084,744	$ 40,064,116
Real estate loan receivable, net	3,339,906	3,309,986
Total real estate and real estate-related investments, net	43,424,650	43,374,102
Cash and cash equivalents	29,846,395	13,256,679
Restricted cash	315,972	543,676
Rents and other receivables	387,091	62,403
Deferred financing costs, prepaid expenses and other assets	1,072,245	1,294,586
Total assets	75,046,353	58,531,446
Liabilities and equity
Note payable	26,000,000	26,000,000
Accounts payable and accrued liabilities	1,880,674	467,803
Due to affiliates	1,312,609	699,341
Other liabilities	1,465,720	706,469
Total liabilities	$ 30,659,003	$ 27,873,613
Commitments and contingencies (Note 9)
Redeemable common stock	$ 500,000	$ 0
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Common stock, $.01 par value; 1,000,000,000 shares authorized, 5,695,223 and 3,893,812 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively	56,952	38,938
Additional paid-in capital	46,084,031	31,489,224
Cumulative distributions and net losses	(3,946,379)	(2,527,562)
Total KBS Strategic Opportunity REIT II, Inc. stockholders’ equity	42,194,604	29,000,600
Noncontrolling interests	1,692,746	1,657,233
Total equity	43,887,350	30,657,833
Total liabilities and equity	$ 75,046,353	$ 58,531,446

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Jun. 30, 2015	Dec. 31, 2014
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	5,695,223	3,893,812
Common stock, shares outstanding	5,695,223	3,893,812

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Hotel revenues	$ 5,191,622	$ 0	$ 6,896,144	$ 0
Interest income from real estate loan receivable	97,095	0	192,695	0
Total revenues	5,288,717	0	7,088,839	0
Expenses:
Hotel expenses	3,178,666	0	5,416,433	0
Asset management fees to affiliate	85,002	0	168,003	0
General and administrative expenses	591,007	264,414	943,770	323,331
Depreciation and amortization	183,553	0	364,868	0
Interest expense	279,850	0	579,224	0
Total expenses	4,318,078	264,414	7,472,298	323,331
Other income:
Other interest income	10,871	0	13,720	0
Total other income	10,871	0	13,720	0
Net income (loss)	981,510	(264,414)	(369,739)	(323,331)
Net income attributable to noncontrolling interest	(146,880)	0	(41,513)	0
Net income (loss) attributable to common stockholders	$ 834,630	$ (264,414)	$ (411,252)	$ (323,331)
Net income (loss) per common share (in dollars per share)	$ 0.16	$ (0.40)	$ (0.09)	$ (0.74)
Weighted-average number of common shares outstanding, basic and diluted	5,105,030	658,218	4,706,493	439,316

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($)	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Total Stockholders’ Equity [Member]	Noncontrolling Interests [Member]
Balance, shares at Dec. 31, 2013		83,295
Balance, value at Dec. 31, 2013	$ 82,161	$ 833	$ 152,696	$ (71,368)	$ 82,161	$ 0
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares		3,810,517
Issuance of common stock, value	33,734,476	$ 38,105	33,696,371		33,734,476
Commissions on stock sales and related dealer manager fees to affiliate	(1,898,821)		(1,898,821)		(1,898,821)
Other offering costs	(461,022)		(461,022)		(461,022)
Net loss	(2,568,961)			(2,456,194)	(2,456,194)	(112,767)
Noncontrolling interest contribution	$ 1,770,000					1,770,000
Balance, shares at Dec. 31, 2014	3,893,812	3,893,812
Balance, value at Dec. 31, 2014	$ 30,657,833	$ 38,938	31,489,224	(2,527,562)	29,000,600	1,657,233
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares		1,700,654
Issuance of common stock, value	16,594,419	$ 17,006	16,577,413		16,594,419
Transfers to redeemable common stock	(500,000)		(500,000)		(500,000)
Stock distributions issued, shares		100,757
Stock distributions issued	0	$ 1,008	1,006,557	(1,007,565)
Commissions on stock sales and related dealer manager fees to affiliate	(1,201,181)		(1,201,181)		(1,201,181)
Other offering costs	(1,287,982)		(1,287,982)		(1,287,982)
Net loss	(369,739)			(411,252)	(411,252)	41,513
Noncontrolling interest distribution	$ (6,000)					(6,000)
Balance, shares at Jun. 30, 2015	5,695,223	5,695,223
Balance, value at Jun. 30, 2015	$ 43,887,350	$ 56,952	$ 46,084,031	$ (3,946,379)	$ 42,194,604	$ 1,692,746

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014
Cash Flows from Operating Activities:
Net loss	$ (369,739)	$ (323,331)
Adjustment to reconcile net loss to net cash provided by (used in) operating activities
Depreciation and amortization	364,868	0
Noncash interest income on real estate-related investment	(29,920)	0
Amortization of deferred financing costs	109,787	0
Unrealized loss on derivative instrument	54,267	0
Changes in operating assets and liabilities:
Restricted cash for operational expenditures	267,000	0
Rents and other receivables	(324,688)	0
Prepaid expenses and other assets	58,287	(83,386)
Accounts payable and accrued liabilities	1,407,534	72,500
Due to affiliates	(663,619)	334,200
Other liabilities	759,251	0
Net cash provided by (used in) operating activities	1,633,028	(17)
Cash Flows from Investing Activities:
Improvements to real estate	(366,096)	0
Restricted cash for capital expenditures	(39,296)	0
Net cash used in investing activities	(405,392)	0
Cash Flows from Financing Activities:
Payments of deferred financing costs	(14,063)	0
Proceeds from issuance of common stock	16,594,419	10,694,011
Payments of commissions on stock sales and related dealer manager fees	(1,201,181)	(391,052)
Payments of other offering costs	(11,095)	0
Distribution to noncontrolling interest	(6,000)	0
Net cash provided by financing activities	15,362,080	10,302,959
Net increase in cash and cash equivalents	16,589,716	10,302,942
Cash and cash equivalents, beginning of period	13,256,679	712,612
Cash and cash equivalents, end of period	29,846,395	11,015,554
Interest paid	350,760	0
Supplemental Disclosure of Noncash Investing and Financing Activities:
Increase in capital expenses payable	19,400	0
Increase in other offering costs due to affiliates	1,276,887	370,589
Increase in other offering costs	0	19,863
Stock distributions issued	$ 1,007,565	$ 0

ORGANIZATION

ORGANIZATION	6 Months Ended
	Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION KBS Strategic Opportunity REIT II, Inc. (the “Company”) was formed on February 6, 2013 as a Maryland corporation that intends to elect tax treatment as a real estate investment trust (“REIT”) beginning with the taxable year that ended December 31, 2014. The Company’s business is conducted through KBS Strategic Opportunity Limited Partnership II (the “Operating Partnership”), a Delaware limited partnership formed on February 7, 2013. The Company is the sole general partner of, and owns a 0.1% partnership interest in, the Operating Partnership. KBS Strategic Opportunity Holdings II LLC (“REIT Holdings”), a Delaware limited liability company formed on February 7, 2013, owns the remaining 99.9% partnership interest in the Operating Partnership and is the sole limited partner. The Company is the sole member and manager of REIT Holdings. The Company has a wholly owned taxable REIT subsidiary (“TRS”), which leases the Company’s hotel property and in turn contracts with an independent hotel management company that manages the day-to-day operations of the Company’s hotel. The Company’s TRS is subject to federal and state income tax at regular corporate tax rates. 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 initially entered between the Company and the Advisor on July 3, 2013 (the “Advisory Agreement”). The Advisor conducts the Company’s operations and will manage its portfolio of real estate loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments. Our advisor has entered into a sub-advisory agreement with STAM Europe, a real estate operating company to provide real estate acquisition and portfolio management services to our advisor in connection with our investments in value-added real estate, distressed debt, and real estate-related investments in Europe. On July 3, 2013, the Company issued 21,739 shares of its common stock to the Advisor at a purchase price of $9.20 per share. The Company expects to invest in and manage a diverse portfolio of real estate-related loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments located in the United States and Europe. Such investments may include the acquisition of distressed debt, the origination and acquisition of mortgage, mezzanine, bridge and other real estate-related loans, investment in opportunistic real estate and investments in real estate-related debt securities such as residential and commercial mortgage-backed securities and collateralized debt obligations. The Company may also invest in entities that make similar investments. As of June 30, 2015 , the Company owned one hotel property and had originated a first mortgage loan. From July 3, 2013 to August 11, 2014, the Company conducted a private placement offering (the “Private Offering”) exempt from registration under Regulation D of the Securities Act of 1933, as amended (the “Act”). The Company sold 3,619,851 shares of common stock for gross offering proceeds of $32.2 million in the Private Offering. On November 14, 2013, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to offer a maximum of 180,000,000 shares of common stock for sale to the public (the “Public Offering”), of which 100,000,000 shares were registered in a primary offering and 80,000,000 shares were registered to be sold under the Company’s dividend reinvestment plan. The SEC declared the Company’s registration statement effective on August 12, 2014. KBS Capital Markets Group LLC (the “Dealer Manager”), an affiliate of the Advisor, serves as the dealer manager of the Public Offering pursuant to a dealer manager agreement dated August 12, 2014 (the “Dealer Manager Agreement”). Previously the Dealer Manager served as dealer manager for the Private Offering. The Dealer Manager is responsible for marketing the Company’s shares. On January 7, 2015, the Company broke escrow in the Public Offering and through June 30, 2015, the Company had sold 1,700,654 shares of common stock in the Public Offering for gross offering proceeds of $16.6 million . On April 2, 2014 and July 31, 2014, the Company issued 120,106 shares and 120,106 shares of common stock to Willowbrook Capital Group LLC, an entity owned and controlled by Keith D. Hall, one of the Company’s directors and the Company’s Chief Executive Officer, and Peter McMillan III, also one of the Company’s directors and the Company’s President, for $1.0 million and $1.0 million , respectively. The Company issued these shares of common stock in a private transaction exempt from the registration requirements of the Act pursuant to Section 4(2) of the Act.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K filed with the SEC. Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015. The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries and joint ventures 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 in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates. Amendment of Dividend Reinvestment Plan On May 12, 2015, the Company’s board of directors adopted a second amended and restated dividend reinvestment plan (the “Amended Dividend Reinvestment Plan”). The Amended Dividend Reinvestment Plan removes the discussion related to the Company’s expected timing for the establishment of an estimated value per share of the Company’s common stock and the concept of establishing an estimated value per share of the Company’s common stock for a purpose other than to set the price to acquire a share in the Public Offering. These changes conform the Company’s dividend reinvestment plan to changes the Company has adopted to the Company’s expected timing for establishing an estimated value per share of the Company’s common stock to comply with regulatory requirements. There were no other changes to the Amended Dividend Reinvestment Plan. The Amended Dividend Reinvestment Plan became effective May 24, 2015. Amendment of Share Redemption Program On May 12, 2015, the Company’s board of directors adopted a second amended and restated share redemption program (the “Amended Share Redemption Program”). The Amended Share Redemption Program conforms the Company’s share redemption program to changes the Company has adopted to the Company’s expected timing for establishing an estimated value per share of the Company’s common stock to comply with regulatory requirements in the same manner as the Amended Dividend Reinvestment Plan discussed above. Additionally, the Amended Share Redemption Program clarifies the redemption terms available to shares received as stock distributions. Under the Amended Share Redemption Program, shares received as stock distributions will be deemed to have a purchase price of $10 per share for purposes of determining the price at which such shares are to be redeemed. Shares received as stock distributions will also be deemed to have been acquired on the same date as the initial share to which the stock distribution shares relate. Finally, there is no holding period requirement for shares received as stock distributions if all of a stockholder’s shares are to be redeemed. The Amended Share Redemption Program also provides up to $500,000 in additional funds to redeem a qualifying stockholder’s shares if the shares are being redeemed in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence.” For purposes of determining the amount of funds available for redemption under the Amended Share Redemption Program, redemptions for a stockholder’s death, qualifying disability or determination of incompetence are to be made first from this $500,000 . There were no other changes to the Amended Share Redemption Program. The Amended Share Redemption Program became effective June 13, 2015; however, the $500,000 of additional funds was available for redemptions in connection with a stockholder’s death, qualifying disability or determination of incompetence beginning on May 29, 2015. Segments The Company invested in an opportunistic real estate investment and originated a loan secured by a non-stabilized real estate asset. In general, the Company intends to hold its investments in opportunistic real estate and other real estate-related assets for capital appreciation. Traditional performance metrics of opportunistic real estate and other real estate-related assets may not be meaningful as these investments are generally non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment. 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, 2015 and 2014. For the purpose of determining the weighted average number of shares outstanding, stock distributions issued are adjusted retroactively and treated as if they were issued and outstanding for all periods presented. The Company declared a stock distribution of 0.01 shares (or 1% of a share of common stock) of common stock on each outstanding share of common stock payable to all of our common stockholders of record as of the close of business on March 25, 2015. This stock distribution, consisting of 44,538 shares of common stock, was issued on March 27, 2015. The Company declared a stock distribution of 0.01 shares (or 1% of a share of common stock) of common stock on each outstanding share of common stock payable to all of our common stockholders of record as of the close of business on June 24, 2015. This stock distribution, consisting of 56,219 shares of common stock, was issued on June 29, 2015. For the purpose of calculating the dollar amount of stock distributions declared, the Company used the Public Offering’s current offering share price of $10.00 per share (excluding purchase price discounts for certain categories of purchasers). Square Footage, Occupancy and Other Measures Square footage, occupancy, average revenue per available room, average daily rate and other measures used to describe real estate and real estate-related investments included in these Condensed Notes to Consolidated Financial Statements are presented on an unaudited basis. Recently Issued Accounting Standards Update In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification. ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU 2014-15 to have a significant impact on its financial statements. In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU No. 2015-02”), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. ASU No. 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU No. 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the amendments in ASU No. 2015-02 using: (a) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (b) by applying the amendments retrospectively. The Company is still evaluating the impact of adopting ASU No. 2015-02 on its financial statements, but does not expect the adoption of ASU No. 2015-02 to have a material impact on its financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”). The amendments in ASU No. 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs. ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively. Early adoption is permitted for financial statements that have not been previously issued. The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs, as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets.

REAL ESTATE

REAL ESTATE	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE As of June 30, 2015, the Company, through a consolidated joint venture in which the Company owns a 90% equity interest, owned one hotel property containing 491 rooms, a 36,000 square foot conference center, a 187 -unit recreational vehicle campground and a 1,060-foot pier located at 3200 S. Ocean Boulevard, Myrtle Beach, South Carolina (the “Springmaid Beach Resort”). The following table summarizes the Company’s real estate as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Land $ 27,340,112 $ 27,340,112 Buildings and improvements 12,956,209 12,570,713 Tenant origination and absorption costs 156,408 156,408 Total real estate, cost 40,452,729 40,067,233 Accumulated depreciation and amortization (367,985 ) (3,117 ) Total real estate, net $ 40,084,744 $ 40,064,116 The following table provides summary information regarding Springmaid Beach Resort’s hotel revenues and expenses for the three and six months ended June 30, 2015 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Hotel Revenues: Room $ 3,687,791 $ 4,588,316 Food, beverage and convention services 666,724 1,006,331 Campground 253,927 503,650 Other 583,180 797,847 Hotel Revenues $ 5,191,622 $ 6,896,144 Hotel Expenses: Room $ 818,621 $ 1,243,132 Food, beverage and convention services 488,506 805,441 General and administrative 383,579 689,455 Sales and marketing 262,441 472,335 Repairs and maintenance 351,312 692,434 Utilities 194,970 446,345 Property taxes and insurance 215,776 431,308 Other 463,461 635,983 Hotel Expenses $ 3,178,666 $ 5,416,433 Springmaid Beach Resort’s average occupancy, average revenue per available room and average daily rate during the six months ended June 30, 2015 was 48% , $51.59 and $106.90 respectively.

REAL ESTATE LOAN RECEIVABLE

REAL ESTATE LOAN RECEIVABLE	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
REAL ESTATE LOAN RECEIVABLE	REAL ESTATE LOAN RECEIVABLE As of June 30, 2015 , the Company had originated one real estate loan receivable as follows: Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of June 30, 2015 Book Value as of June 30, 2015 (1) Book Value as of December 31, 2014 (1) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date 655 Summer Street First Mortgage Boston, Massachusetts 09/04/2014 Office Mortgage $ 3,500,000 $ 3,339,906 $ 3,309,986 9.25% 11.68% 10/01/2017 _____________________ (1) Book value of the real estate loan receivable represents outstanding principal balance adjusted for unamortized origination fees and direct origination and acquisition costs. (2) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rate and contractual interest rate presented are as of June 30, 2015 . The following summarizes the activity related to real estate loan receivable for the six months ended June 30, 2015 : Real estate loan receivable - December 31, 2014 $ 3,309,986 Amortization of closing costs and origination fees on real estate loan receivable 29,920 Real estate loan receivable - June 30, 2015 $ 3,339,906 For the three and six months ended June 30, 2015 , interest income from the real estate loan receivable consisted of the following: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Contractual interest income $ 81,837 $ 162,775 Amortization of origination fees and costs and acquisition costs, net 15,258 29,920 Interest income from real estate loan receivable $ 97,095 $ 192,695

NOTE PAYABLE

NOTE PAYABLE	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
NOTE PAYABLE	NOTE PAYABLE As of June 30, 2015 and December 31, 2014 , the Company’s note payable consisted of the following: Principal Contractual Interest Rate (1) Effective Interest Rate (1) Payment Type Maturity Date Springmaid Beach Resort (2) $ 26,000,000 One-month LIBOR + 3.00% 3.18% Interest Only 12/30/2017 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2015 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2015 , using interest rate indices at June 30, 2015 , where applicable. (2) As of June 30, 2015 , $26.0 million had been disbursed to the Company and $12.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents. As of June 30, 2015 and December 31, 2014 , the Company’s deferred financing costs were $548,934 and $658,721 , respectively, net of amortization, and are included in deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets. During the three and six months ended June 30, 2015 , the Company incurred $ 279,850 and $ 579,224 of interest expense, respectively. As of June 30, 2015 and December 31, 2014 , $68,987 and $4,577 was payable, respectively. Included in interest expense for the three and six months ended June 30, 2015 was $54,893 and $ 109,787 of amortization of deferred financing costs, respectively. Also included in interest expense for the three and six months ended June 30, 2015 was $ 15,884 and $54,267 of unrealized losses on an interest rate cap agreement, respectively. The Company’s note payable contains financial and non-financial debt covenants. As of June 30, 2015 , the Company was in compliance with all debt covenants. The Company’s note payable requires the Company to maintain a minimum working capital reserve in an amount sufficient to fund the working capital requirements of the Springmaid Beach Resort through the off-peak season, which amount shall be reduced by any amounts for working capital reserved by the third-party hotel operator. In addition, until certain renovations are complete the loan documents impose a “cash trap” which restricts the use of accumulated cash from the Springmaid Beach Resort to the payment of working capital shortfalls, renovation expenditures and distributions required to satisfy the Company’s REIT requirements. The working capital reserve was included in restricted cash on the accompanying consolidated balance sheets.

DERIVATIVE INSTRUMENT

DERIVATIVE INSTRUMENT	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENT	DERIVATIVE INSTRUMENT 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 the derivatives for speculative purposes. 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. As of June 30, 2015 and December 31, 2014 , the Company had one interest rate cap outstanding, which was not designated as a hedging instrument. The following table summarizes the notional amount and other information related to the Company’s derivative instrument as of June 30, 2015 and December 31, 2014 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks: Fair Value of Asset Derivative Instrument Effective Date Maturity Date Notional Value Reference Rate June 30, 2015 December 31, 2014 Balance Sheet Location Interest Rate Cap 12/29/2014 01/01/2018 $ 26,000,000 One-month LIBOR at 3.00% $ 21,584 $ 75,851 Prepaid expenses and other assets During the three and six months ended June 30, 2015 , the Company recorded an unrealized loss of $15,884 and $54,267 on its derivative instrument, respectively, which was included in interest expense on the accompanying consolidated statements of operations.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value: Cash and cash equivalents, 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. Real estate loan receivable: The Company’s real estate loan receivable is presented in the accompanying consolidated balance sheets at its amortized cost net of recorded loan loss reserves (if any) and not at fair value. The fair value of real estate loan receivable was estimated using an internal valuation model that considered the expected cash flows for the loan, underlying collateral value (for collateral-dependent loans) and estimated yield requirements of institutional investors for loans with similar characteristics, including remaining loan term, loan-to-value, type of collateral and other credit enhancements. The Company classifies these inputs as Level 3 inputs. Derivative instrument: The Company’s derivative instrument is presented at fair value on the accompanying consolidated balance sheets. The valuation of this instrument 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 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 (floor) are based on an expectation of future interest rates derived from observed market interest rate curves and volatilities. Note payable: The fair value of the Company’s note payable is 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 liabilities 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 or 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 value, carrying amount and fair value of the Company’s financial instruments as of June 30, 2015 and December 31, 2014, which carrying amounts do not approximate the fair values: June 30, 2015 December 31, 2014 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial asset: Real estate loan receivable $ 3,500,000 $ 3,339,906 $ 3,281,364 $ 3,500,000 $ 3,309,986 $ 3,238,918 Financial liability: Note payable $ 26,000,000 $ 26,000,000 $ 25,998,897 $ 26,000,000 $ 26,000,000 $ 25,998,195 Disclosure of the fair value of financial instruments is based on pertinent information available to the Company as of the period end and requires a significant amount of judgment. The actual results and the Company’s estimate of value at a future date could be materially different. As of June 30, 2015 , the Company measured the following asset at fair value: Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Asset derivative $ 21,584 $ — $ 21,584 $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has entered the Advisory Agreement with the Advisor and dealer manager agreements with the Dealer Manager, with respect to the Private Offering and the Public Offering, respectively. These agreements entitle the Advisor and the Dealer Manager to specified fees upon the provision of certain offering-related services and the investment of funds in real estate-related investments, among other services, as well as reimbursement of organization and offering costs 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 described in the Advisory Agreement. The Advisor also serves as the advisor for KBS Real Estate Investment Trust, Inc. (“KBS REIT I”), KBS Real Estate Investment Trust II, Inc. (“KBS REIT II”), KBS Real Estate Investment Trust III, Inc. (“KBS REIT III”), KBS Legacy Partners Apartment REIT, Inc. (“KBS Legacy Partners Apartment REIT”), KBS Strategic Opportunity REIT, Inc. (“KBS Strategic Opportunity REIT”) and KBS Growth & Income REIT, Inc. (“KBS Growth & Income REIT”). The Dealer Manager also serves as the dealer manager for the private placement offering of KBS Growth & Income REIT, the initial public offering of KBS REIT III and for the DRP offering for KBS Strategic Opportunity REIT and KBS Legacy Partners Apartment REIT. On January 6, 2014, the Company, together with KBS REIT I, KBS REIT II, KBS REIT III, KBS Legacy Partners Apartment REIT, KBS Strategic Opportunity REIT, the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the plan, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance. In June 2015, KBS Growth & Income REIT was added to the insurance program at terms similar to those described above. During the three and six months ended June 30, 2015 and 2014, no other business transactions occurred between the Company and these other KBS-sponsored programs. The Advisory Agreement has a one -year term. The Company may terminate the Advisory Agreement on 60 days’ written notice. The Advisor in its sole discretion may defer any fee payable to it under the Advisory Agreement. All or any portion of such fee not taken may be deferred without interest and paid when the Advisor determines. 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, 2015 and 2014, respectively, and any related amounts payable as of June 30, 2015 and December 31, 2014: Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, 2015 2014 2015 2014 2015 2014 Expensed Prepaid insurance premiums (1) $ — $ — $ — $ 131,691 $ — $ — Asset management fees 85,002 — 168,003 — — 1,855 Reimbursable operating expenses (2) 78,216 168,228 100,675 202,509 35,722 142,820 Real estate acquisition fee — — — — — 554,666 Additional Paid-in Capital Sales commissions 488,076 222,951 718,085 224,576 — — Dealer manager fees 312,327 155,796 483,096 166,476 — — Reimbursable other offering costs 834,918 252,746 1,287,982 370,589 1,276,887 — $ 1,798,539 $ 799,721 $ 2,757,841 $ 1,095,841 $ 1,312,609 $ 699,341 _____________________ (1) Amount incurred during the six months ended June 30, 2014 reflects directors and officers insurance premiums for the period from December 31, 2013 through June 30, 2015. Of this amount, $23,688 and $47,375 were recorded as insurance expense for the three and six months ended June 30, 2015 , respectively, and $23,688 and $48,305 were recorded as insurance expense for the three and six months ended June 30, 2014, respectively, and included in general and administrative expenses in the statement of operations. (2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $51,397 and $73,856 for the three and six months ended June 30, 2015, respectively and were the only employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. 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. Offering Costs Organization and offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor, the Dealer Manager or their affiliates on behalf of the Company or may be paid directly by the Company. These offering costs include all expenses incurred by the Company in connection with the Private Offering and the Public Offering. Organization costs include all expenses incurred by the Company in connection with the formation of the Company, including but not limited to legal fees and other costs to incorporate the Company. During the Private Offering, there was no limit on the amount of organization and offering expenses the Company could incur. As of June 30, 2015, the Company had recorded and paid $1,020,623 of offering costs (other than selling commissions and dealer manager fees) related to the Private Offering, of which $956,834 were incurred by the Advisor or its affiliates on behalf of the Company. During the Public Offering, pursuant to the Advisory Agreement and Dealer Manager Agreement, the Company is obligated to reimburse the Advisor, the Dealer Manager or their affiliates, as applicable, for organization and other offering costs paid by them on behalf of the Company, provided that the Advisor is obligated to reimburse the Company to the extent selling commissions, dealer manager fees and other organization and offering costs incurred by the Company in the Public Offering exceed 15% of gross offering proceeds in the Public Offering. Through June 30, 2015 , the Advisor and its affiliates had incurred other organization and offering costs on the Company’s behalf in connection with the Public Offering of approximately $3.5 million . The Company will be liable to reimburse the Advisor for such costs up to an amount that, when combined with selling commissions, dealer manager fees and all other amounts spent by the Company on organization and offering expenses, does not exceed 15% of the gross proceeds of the Offering. As of June 30, 2015 , the Company has paid or accrued $1.2 million in selling commissions and dealer manager fees and $1.3 million of other organization and offering expenses, which amounts represent the Company’s maximum liability for organization and offering costs as of June 30, 2015 .

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Management Agreement Springmaid Operations JV has entered a management agreement with Doubletree Management LLC, an independent third-party hotel operator (the “Operator”) pursuant to which the Operator will manage and operate the Springmaid Beach Resort. Pursuant to the management agreement the Operator will receive the following fees: • a base fee, which is a percentage of total operating revenue that starts at 2.5% and increases to 2.75% in the second year following the date in which the hotel begins operations under the DoubleTree by Hilton name (the “Brand Commencement Date”) and further increases in the third year following the Brand Commencement Date and thereafter to 3.0% ; • a campground area management fee, which is 2% of any campground revenue; • an incentive fee, which is 15% of operating cash flow (after deduction for capital renewals reserve and Springmaid Property JV’s priority, which is 12% of Springmaid Property JV’s total investment); • an additional services fee in the amount reasonably determined by the Operator from time to time; and • commencing on the Brand Commencement Date, a brand services fee in the amount of 4% of total rooms revenue, and an other brand services fee in an amount determined by the Operator from time to time. The management agreement contains specific standards for the operation and maintenance of the hotel, which allows the Operator to maintain uniformity in the system created by the Operator’s franchise. Such standards generally regulate the appearance of the hotel, quality and type of goods and services offered, signage and protection of trademarks. Compliance with the management agreement will require the Company to make significant expenditures for capital improvements. During the three and six months ended June 30, 2015 , the Company incurred $128,940 and $170,499 of fees related to the management agreement, respectively, and are included in hotel expenses on the accompanying consolidated statements of operations. Economic Dependency The Company is dependent on the Advisor, sub-advisor and the Dealer Manager for certain services that are essential to the Company, including the sale of the Company’s shares of common stock; 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 these companies are unable to provide the respective services, the Company will be required to obtain such services from other sources. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations as of June 30, 2015 . However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities. Legal Matters From time to time, the Company is a 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 the 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.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	6 Months Ended
	Jun. 30, 2015
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Status of the Offering The Company commenced the Public Offering on August 12, 2014 and broke escrow on January 7, 2015. As of August 4, 2015, the Company had sold 1,953,135 shares of common stock in the Public Offering for gross offering proceeds of $19.1 million . Distribution On August 6, 2015, the Company’s board of directors authorized a stock distribution of 0.01 shares (or 1% of a share of common stock) of common stock on each outstanding share of common stock payable to all of the Company’s common stockholders of record as of the close of business on September 22, 2015. The Company expects to issue this stock distribution on or about September 29, 2015.

SUMMARY OF SIGNIFICANT ACCOUN17

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries and joint ventures 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 in conformity with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and accompanying notes. Actual results could materially differ from those estimates.
Segments	The Company invested in an opportunistic real estate investment and originated a loan secured by a non-stabilized real estate asset. In general, the Company intends to hold its investments in opportunistic real estate and other real estate-related assets for capital appreciation. Traditional performance metrics of opportunistic real estate and other real estate-related assets may not be meaningful as these investments are generally non-stabilized and do not provide a consistent stream of interest income or rental revenue. These investments exhibit similar long-term financial performance and have similar economic characteristics. These investments typically involve a higher degree of risk and do not provide a constant stream of ongoing cash flows. As a result, the Company’s management views opportunistic real estate and other real estate-related assets as similar investments. Substantially all of its revenue and net income (loss) is from opportunistic real estate and other real estate-related assets, and therefore, the Company currently aggregates its operating segments into one reportable business segment.
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, 2015 and 2014. For the purpose of determining the weighted average number of shares outstanding, stock distributions issued are adjusted retroactively and treated as if they were issued and outstanding for all periods presented. The Company declared a stock distribution of 0.01 shares (or 1% of a share of common stock) of common stock on each outstanding share of common stock payable to all of our common stockholders of record as of the close of business on March 25, 2015. This stock distribution, consisting of 44,538 shares of common stock, was issued on March 27, 2015. The Company declared a stock distribution of 0.01 shares (or 1% of a share of common stock) of common stock on each outstanding share of common stock payable to all of our common stockholders of record as of the close of business on June 24, 2015. This stock distribution, consisting of 56,219 shares of common stock, was issued on June 29, 2015. For the purpose of calculating the dollar amount of stock distributions declared, the Company used the Public Offering’s current offering share price of $10.00 per share (excluding purchase price discounts for certain categories of purchasers).
Square Footage, Occupancy and Other Measures Policy	Square footage, occupancy, average revenue per available room, average daily rate and other measures used to describe real estate and real estate-related investments included in these Condensed Notes to Consolidated Financial Statements are presented on an unaudited basis.
Recently Issued Accounting Standards Updates	In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”). ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services. ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification. ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU 2014-15 to have a significant impact on its financial statements. In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements. In February 2015, the FASB issued ASU No. 2015-02, Consolidation (Topic 810): Amendments to the Consolidation Analysis (“ASU No. 2015-02”), which amended the existing accounting standards for consolidation under both the variable interest model and the voting model. ASU No. 2015-02 modifies the evaluation of whether limited partnerships and similar legal entities are VIEs or voting interest entities, eliminates the presumption that a general partner should consolidate a limited partnership and affects the consolidation analysis of reporting entities that are involved with VIEs, particularly those that have fee arrangements and related party relationships. ASU No. 2015-02 is effective for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015. Early adoption is permitted. A reporting entity may apply the amendments in ASU No. 2015-02 using: (a) a modified retrospective approach by recording a cumulative-effect adjustment to equity as of the beginning of the fiscal year of adoption; or (b) by applying the amendments retrospectively. The Company is still evaluating the impact of adopting ASU No. 2015-02 on its financial statements, but does not expect the adoption of ASU No. 2015-02 to have a material impact on its financial statements. In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”). The amendments in ASU No. 2015-03 requires debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs. ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively. Early adoption is permitted for financial statements that have not been previously issued. The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs, as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets on the accompanying consolidated balance sheets.

REAL ESTATE (Tables)

REAL ESTATE (Tables)	6 Months Ended
	Jun. 30, 2015
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table summarizes the Company’s real estate as of June 30, 2015 and December 31, 2014 : June 30, 2015 December 31, 2014 Land $ 27,340,112 $ 27,340,112 Buildings and improvements 12,956,209 12,570,713 Tenant origination and absorption costs 156,408 156,408 Total real estate, cost 40,452,729 40,067,233 Accumulated depreciation and amortization (367,985 ) (3,117 ) Total real estate, net $ 40,084,744 $ 40,064,116
Schedule of Hotel Revenue and Expense	The following table provides summary information regarding Springmaid Beach Resort’s hotel revenues and expenses for the three and six months ended June 30, 2015 : Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Hotel Revenues: Room $ 3,687,791 $ 4,588,316 Food, beverage and convention services 666,724 1,006,331 Campground 253,927 503,650 Other 583,180 797,847 Hotel Revenues $ 5,191,622 $ 6,896,144 Hotel Expenses: Room $ 818,621 $ 1,243,132 Food, beverage and convention services 488,506 805,441 General and administrative 383,579 689,455 Sales and marketing 262,441 472,335 Repairs and maintenance 351,312 692,434 Utilities 194,970 446,345 Property taxes and insurance 215,776 431,308 Other 463,461 635,983 Hotel Expenses $ 3,178,666 $ 5,416,433

REAL ESTATE LOAN RECEIVABLE (Ta

REAL ESTATE LOAN RECEIVABLE (Tables)	6 Months Ended
	Jun. 30, 2015
Receivables [Abstract]
Schedule of Real Estate Loan Receivable	As of June 30, 2015 , the Company had originated one real estate loan receivable as follows: Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance as of June 30, 2015 Book Value as of June 30, 2015 (1) Book Value as of December 31, 2014 (1) Contractual Interest Rate (3) Annualized Effective Interest Rate (3) Maturity Date 655 Summer Street First Mortgage Boston, Massachusetts 09/04/2014 Office Mortgage $ 3,500,000 $ 3,339,906 $ 3,309,986 9.25% 11.68% 10/01/2017 _____________________ (1) Book value of the real estate loan receivable represents outstanding principal balance adjusted for unamortized origination fees and direct origination and acquisition costs. (2) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rate and contractual interest rate presented are as of June 30, 2015 .
Schedule of Activity Related to Real Estate Loan Receivable	The following summarizes the activity related to real estate loan receivable for the six months ended June 30, 2015 : Real estate loan receivable - December 31, 2014 $ 3,309,986 Amortization of closing costs and origination fees on real estate loan receivable 29,920 Real estate loan receivable - June 30, 2015 $ 3,339,906
Schedule of Interest and Other Income	For the three and six months ended June 30, 2015 , interest income from the real estate loan receivable consisted of the following: Three Months Ended June 30, 2015 Six Months Ended June 30, 2015 Contractual interest income $ 81,837 $ 162,775 Amortization of origination fees and costs and acquisition costs, net 15,258 29,920 Interest income from real estate loan receivable $ 97,095 $ 192,695

NOTE PAYABLE (Tables)

NOTE PAYABLE (Tables)	6 Months Ended
	Jun. 30, 2015
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of June 30, 2015 and December 31, 2014 , the Company’s note payable consisted of the following: Principal Contractual Interest Rate (1) Effective Interest Rate (1) Payment Type Maturity Date Springmaid Beach Resort (2) $ 26,000,000 One-month LIBOR + 3.00% 3.18% Interest Only 12/30/2017 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2015 . Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2015 , using interest rate indices at June 30, 2015 , where applicable. (2) As of June 30, 2015 , $26.0 million had been disbursed to the Company and $12.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents.

DERIVATIVE INSTRUMENT (Tables)

DERIVATIVE INSTRUMENT (Tables)	6 Months Ended
	Jun. 30, 2015
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Derivative Instruments in Statement of Financial Position	The following table summarizes the notional amount and other information related to the Company’s derivative instrument as of June 30, 2015 and December 31, 2014 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks: Fair Value of Asset Derivative Instrument Effective Date Maturity Date Notional Value Reference Rate June 30, 2015 December 31, 2014 Balance Sheet Location Interest Rate Cap 12/29/2014 01/01/2018 $ 26,000,000 One-month LIBOR at 3.00% $ 21,584 $ 75,851 Prepaid expenses and other assets

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	6 Months Ended
	Jun. 30, 2015
Fair Value Disclosures [Abstract]
Schedule of Face Value, Carrying Amounts and Fair Value	The following were the face value, carrying amount and fair value of the Company’s financial instruments as of June 30, 2015 and December 31, 2014, which carrying amounts do not approximate the fair values: June 30, 2015 December 31, 2014 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial asset: Real estate loan receivable $ 3,500,000 $ 3,339,906 $ 3,281,364 $ 3,500,000 $ 3,309,986 $ 3,238,918 Financial liability: Note payable $ 26,000,000 $ 26,000,000 $ 25,998,897 $ 26,000,000 $ 26,000,000 $ 25,998,195
Schedule of Fair Value of Assets and Liabilities	As of June 30, 2015 , the Company measured the following asset at fair value: Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Asset derivative $ 21,584 $ — $ 21,584 $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	6 Months Ended
	Jun. 30, 2015
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and six months ended June 30, 2015 and 2014, respectively, and any related amounts payable as of June 30, 2015 and December 31, 2014: Incurred Payable as of Three Months Ended June 30, Six Months Ended June 30, June 30, December 31, 2015 2014 2015 2014 2015 2014 Expensed Prepaid insurance premiums (1) $ — $ — $ — $ 131,691 $ — $ — Asset management fees 85,002 — 168,003 — — 1,855 Reimbursable operating expenses (2) 78,216 168,228 100,675 202,509 35,722 142,820 Real estate acquisition fee — — — — — 554,666 Additional Paid-in Capital Sales commissions 488,076 222,951 718,085 224,576 — — Dealer manager fees 312,327 155,796 483,096 166,476 — — Reimbursable other offering costs 834,918 252,746 1,287,982 370,589 1,276,887 — $ 1,798,539 $ 799,721 $ 2,757,841 $ 1,095,841 $ 1,312,609 $ 699,341 _____________________ (1) Amount incurred during the six months ended June 30, 2014 reflects directors and officers insurance premiums for the period from December 31, 2013 through June 30, 2015. Of this amount, $23,688 and $47,375 were recorded as insurance expense for the three and six months ended June 30, 2015 , respectively, and $23,688 and $48,305 were recorded as insurance expense for the three and six months ended June 30, 2014, respectively, and included in general and administrative expenses in the statement of operations. (2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $51,397 and $73,856 for the three and six months ended June 30, 2015, respectively and were the only employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. 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.

ORGANIZATION (Details)

ORGANIZATION (Details)	6 Months Ended		11 Months Ended	12 Months Ended	13 Months Ended
	Jun. 30, 2015USD ($)MortgageLoanspropertyshares	Jun. 30, 2014USD ($)	Jun. 30, 2015USD ($)propertyshares	Dec. 31, 2014USD ($)shares	Aug. 11, 2014USD ($)shares	Mar. 27, 2015$ / shares	Jul. 31, 2014USD ($)shares	Apr. 02, 2014USD ($)shares	Nov. 14, 2013shares	Jul. 03, 2013$ / 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	5,695,223		5,695,223	3,893,812
Common stock, purchase price per share | $ / shares						$ 10
Proceeds from issuance of common stock | $	$ 16,594,419	$ 10,694,011
Common stock, value, issued | $	$ 56,952		$ 56,952	$ 38,938
Chief Executive Officer and the President [Member]
Organizational Structure [Line Items]
Common stock, value, issued | $							$ 1,000,000	$ 1,000,000
First Mortgage [Member]
Organizational Structure [Line Items]
Mortgage loans on real estate, number of loans | MortgageLoans	1
Hotel [Member]
Organizational Structure [Line Items]
Number of real estate properties | property	1		1
Common Stock [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares	1,700,654			3,810,517
KBS Capital Advisors LLC [Member]
Organizational Structure [Line Items]
Common stock, shares issued										21,739
Common stock, purchase price per share | $ / shares										$ 9.20
Willowbrook Capital Group LLC [Member]
Organizational Structure [Line Items]
Common stock, shares issued							120,106	120,106
Private Placement [Member]
Organizational Structure [Line Items]
Proceeds from issuance of common stock | $					$ 32,200,000
Private Placement [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares					3,619,851
IPO [Member]
Organizational Structure [Line Items]
Proceeds from issuance of common stock | $			$ 16,600,000
IPO [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Shares registered in primary offering									100,000,000
Shares registered for sale under dividend reinvestment plan									80,000,000
Issuance of common stock, shares			1,700,654
IPO [Member] | Common Stock [Member] | Maximum [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance									180,000,000

SUMMARY OF SIGNIFICANT ACCOUN25

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) - USD ($)	Jun. 29, 2015	Mar. 27, 2015	Jun. 30, 2015	Aug. 06, 2015	May. 12, 2015
Summary of Significant Accounting Policies [Line Items]
Common stock, purchase price per share		$ 10
Amendment of Share Redemption Program [Member]
Summary of Significant Accounting Policies [Line Items]
Common stock, purchase price per share					$ 10
Additional funds for share redemption					$ 500,000
Common Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Stock distribution			0.01
Stock distribution as percent of stock price			1.00%
Stock distributions issued, shares	56,219	44,538	100,757
Subsequent Event [Member] | Common Stock [Member]
Summary of Significant Accounting Policies [Line Items]
Stock distribution				0.01
Stock distribution as percent of stock price				1.00%

REAL ESTATE (Narrative) (Detail

REAL ESTATE (Narrative) (Details) - Jun. 30, 2015 ft² in Thousands	ft²roompropertyUnits$ / room
Real Estate Properties [Line Items]
Percentage occupied	48.00%
Average revenue per available room	51.59
Average daily rate	106.90
Springmaid Property JV [Member] | Springmaid Beach Resort [Member]
Real Estate Properties [Line Items]
Equity interest in joint venture	90.00%
Number of rooms | room	491
Square feet in conference center | ft²	36
Number of units in recreational vehicle campground | Units	187
Springmaid Property JV [Member] | Springmaid Beach Resort [Member] | Hotel [Member]
Real Estate Properties [Line Items]
Number of real estate properties | property	1

REAL ESTATE (Hotel Information)

REAL ESTATE (Hotel Information) (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Total real estate, cost	$ 40,452,729	$ 40,067,233
Accumulated depreciation and amortization	(367,985)	(3,117)
Total real estate, net	40,084,744	40,064,116
Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	27,340,112	27,340,112
Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	12,956,209	12,570,713
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 156,408	$ 156,408

REAL ESTATE (Hotel Revenue and

REAL ESTATE (Hotel Revenue and Expenses) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Hotel Revenues:
Hotel Revenues	$ 5,191,622	$ 0	$ 6,896,144	$ 0
Hotel Expenses:
General and administrative	591,007	264,414	943,770	323,331
Hotel Expenses	3,178,666	$ 0	5,416,433	$ 0
Springmaid Beach Resort [Member]
Hotel Revenues:
Room	3,687,791		4,588,316
Food, beverage and convention services	666,724		1,006,331
Campground	253,927		503,650
Other	583,180		797,847
Hotel Revenues	5,191,622		6,896,144
Hotel Expenses:
Room	818,621		1,243,132
Food, beverage and convention services	488,506		805,441
General and administrative	383,579		689,455
Sales and marketing	262,441		472,335
Repairs and maintenance	351,312		692,434
Utilities	194,970		446,345
Property taxes and insurance	215,776		431,308
Other	463,461		635,983
Hotel Expenses	$ 3,178,666		$ 5,416,433

REAL ESTATE LOAN RECEIVABLE (Sc

REAL ESTATE LOAN RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details)		6 Months Ended
		Jun. 30, 2015USD ($)LoansReceivables	Dec. 31, 2014USD ($)
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate loans receivable | LoansReceivables		1
Book value		$ 3,339,906	$ 3,309,986
Mortgages [Member] | 655 Summer Street Mortgage Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Acquired		Sep. 4, 2014
Outstanding Principal Balance		$ 3,500,000
Book value	[1]	$ 3,339,906	$ 3,309,986
Contractual Interest Rate	[2]	9.25%
Annualized Effective Interest Rate	[2]	11.68%
Maturity Date		Oct. 1, 2017
[1]	Book value of the real estate loan receivable represents outstanding principal balance adjusted for unamortized origination fees and direct origination and acquisition costs.
[2]	Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method annualized (if applicable) and divided by the average amortized cost basis of the investment. The annualized effective interest rate and contractual interest rate presented are as of June 30, 2015.

REAL ESTATE LOAN RECEIVABLE (30

REAL ESTATE LOAN RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) - Jun. 30, 2015 - USD ($)	Total	Total
Real Estate Loans Receivable [Roll Forward]
Real estate loan receivable - December 31, 2014		$ 3,309,986
Amortization of closing costs and origination fees on real estate loan receivable	$ 15,258	29,920
Real estate loan receivable - June 30, 2015	$ 3,339,906	$ 3,339,906

REAL ESTATE LOAN RECEIVABLE (31

REAL ESTATE LOAN RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Receivables [Abstract]
Contractual interest income	$ 81,837		$ 162,775
Amortization of origination fees and costs and acquisition costs, net	15,258		29,920
Interest income from real estate loans receivable	$ 97,095	$ 0	$ 192,695	$ 0

NOTE PAYABLE (Schedule of Notes

NOTE PAYABLE (Schedule of Notes Payable) (Details) - USD ($)		6 Months Ended
		Jun. 30, 2015	Dec. 31, 2014
Debt Instrument [Line Items]
Principal		$ 26,000,000	$ 26,000,000
Springmaid Beach Resort [Member] | Mortgages [Member]
Debt Instrument [Line Items]
Principal	[1]	$ 26,000,000	$ 26,000,000
Effective Interest Rate	[1]	3.18%
Payment Type	[1]	Interest Only
Maturity Date	[1]	Dec. 30, 2017
Unused borrowing capacity, amount		$ 12,000,000
Springmaid Beach Resort [Member] | Mortgages [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Contractual Interest Rate	[1],[2]	3.00%
[1]	As of June 30, 2015, $26.0 million had been disbursed to the Company and $12.0 million remained available for future disbursements, subject to certain terms and conditions contained in the loan documents.
[2]	Contractual interest rate represents the interest rate in effect under the loan as of June 30, 2015. Effective interest rate is calculated as the actual interest rate in effect as of June 30, 2015, using interest rate indices at June 30, 2015, where applicable.

NOTE PAYABLE (Narrative) (Detai

NOTE PAYABLE (Narrative) (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Debt Disclosure [Abstract]
Deferred finance costs	$ 548,934		$ 548,934		$ 658,721
Interest expense	279,850	$ 0	579,224	$ 0
Interest payable	68,987		68,987		$ 4,577
Amortization of deferred financing costs	$ 54,893		$ 109,787	$ 0

DERIVATIVE INSTRUMENT (Details)

DERIVATIVE INSTRUMENT (Details) - Interest Rate Cap [Member]	3 Months Ended	6 Months Ended
	Jun. 30, 2015USD ($)instrument	Jun. 30, 2015USD ($)instrument	Dec. 31, 2014USD ($)instrument
Derivative [Line Items]
Number of Instruments Held | instrument	1	1	1
Notional Value	$ 26,000,000	$ 26,000,000
Unrealized loss on derivative instruments	15,884	54,267
Prepaid Expenses and Other Assets [Member]
Derivative [Line Items]
Fair Value of Asset	$ 21,584	$ 21,584	$ 75,851
One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	3.00%	3.00%

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($)	Jun. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Face Value	$ 3,500,000	$ 3,500,000
Real estate loans receivable, Value	3,281,364	3,238,918
Note payable, Face Value	26,000,000	26,000,000
Note payable, Value	25,998,897	25,998,195
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	3,339,906	3,309,986
Note payable, Value	$ 26,000,000	$ 26,000,000

FAIR VALUE DISCLOSURES (Sched36

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) - Recurring Basis [Member]	Jun. 30, 2015USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative	$ 21,584
Quoted Prices in Active Markets for Identical Assets (Level 1) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative	21,584
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivative	$ 0

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - Jun. 30, 2015 - USD ($)	Total	Total
Related Party Transaction [Line Items]
Term of Advisory Agreement	1 year
Period of termination notice	60 days
Private Placement [Member]
Related Party Transaction [Line Items]
Offering costs (other than selling commissions and dealer manager fees), paid by related party	$ 1,020,623	$ 1,020,623
Offering Cost Paid by Advisor or its Affiliates	$ 956,834	956,834
IPO [Member] | KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Organization and offering costs incurred by related party		$ 3,500,000
Percentage of Selling Commissions, Dealer Manager Fees, and Organization and Other Offering Costs of Gross Offering Proceeds		15.00%
IPO [Member] | KBS Capital Advisors LLC [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Reimbursable offering costs determination, gross offering costs, percentage	15.00%	15.00%
Sales Commissions [Member] | Advisor and Dealer Manager [Member] | IPO [Member]
Related Party Transaction [Line Items]
Related Party Transactions, Amount Paid or Accrued	$ 1,200,000	$ 1,200,000
Dealer Manager Fees [Member] | Advisor and Dealer Manager [Member] | IPO [Member]
Related Party Transaction [Line Items]
Related Party Transactions, Amount Paid or Accrued	$ 1,300,000	$ 1,300,000

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Related-party Costs) (Details) - USD ($)		3 Months Ended		6 Months Ended
		Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014	Dec. 31, 2014
Related Party Transaction [Line Items]
Asset management fees		$ 85,002	$ 0	$ 168,003	$ 0
Payable as of		1,312,609		1,312,609		$ 699,341
Payment for administrative fees		51,397		73,856
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Insurance expense		23,688	23,688	47,375	48,305
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Incurred		1,798,539	799,721	2,757,841	1,095,841
Payable as of		1,312,609		1,312,609		699,341
Advisor and Dealer Manager [Member] | Sales Commissions [Member]
Related Party Transaction [Line Items]
Incurred		488,076	222,951	718,085	224,576
Payable as of		0		0		0
Advisor and Dealer Manager [Member] | Dealer Manager Fees [Member]
Related Party Transaction [Line Items]
Incurred		312,327	155,796	483,096	166,476
Payable as of		0		0		0
Advisor and Dealer Manager [Member] | Reimbursable Other Offering Costs [Member]
Related Party Transaction [Line Items]
Incurred		834,918	252,746	1,287,982	370,589
Payable as of		1,276,887		1,276,887		0
Advisor and Dealer Manager [Member] | Expensed [Member] | Prepaid Insurance Premiums [Member]
Related Party Transaction [Line Items]
Expenses	[1]	0	0	0	131,691
Payable as of	[1]	0		0		0
Advisor and Dealer Manager [Member] | Expensed [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Asset management fees		85,002	0	168,003	0
Payable as of		0		0		1,855
Advisor and Dealer Manager [Member] | Expensed [Member] | Reimbursable Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	[2]	78,216	168,228	100,675	202,509
Payable as of	[2]	35,722		35,722		142,820
Advisor and Dealer Manager [Member] | Expensed [Member] | Real Estate Acquisition Fee [Member]
Related Party Transaction [Line Items]
Expenses		0	$ 0	0	$ 0
Payable as of		$ 0		$ 0		$ 554,666
[1]	Amount incurred during the six months ended June 30, 2014 reflects directors and officers insurance premiums for the period from December 31, 2013 through June 30, 2015. Of this amount, $23,688 and $47,375 were recorded as insurance expense for the three and six months ended June 30, 2015, respectively, and $23,688 and $48,305 were recorded as insurance expense for the three and six months ended June 30, 2014, respectively, and included in general and administrative expenses in the statement of operations.
[2]	The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $51,397 and $73,856 for the three and six months ended June 30, 2015, respectively and were the only employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. 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.

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - Jun. 30, 2015 - USD ($)	Total	Total
Loss Contingencies [Line Items]
Base fee as percentage of total operating revenue in year one		2.50%
Base fee as percentage of total operating revenue in year two		2.75%
Base fee as percentage of total operating revenue, thereafter		3.00%
Management fee as percent of any campground revenue		2.00%
Incentive fee as percent of operating cash flow		15.00%
Brand services fee as percent of total room revenue		4.00%
Fees incurred to management agreement	$ 128,940	$ 170,499
Springmaid Property JV [Member]
Loss Contingencies [Line Items]
Percent of total investments		12.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) - USD ($)	6 Months Ended		12 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Aug. 04, 2015	Dec. 31, 2014	Aug. 06, 2015
Subsequent Event [Line Items]
Proceeds from issuance of common stock	$ 16,594,419	$ 10,694,011
Common Stock [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares	1,700,654			3,810,517
Stock distribution	0.01
Stock distribution as percent of stock price	1.00%
Subsequent Event [Member]
Subsequent Event [Line Items]
Proceeds from issuance of common stock			$ 19,100,000
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares			1,953,135
Stock distribution					0.01
Stock distribution as percent of stock price					1.00%