Pacific Oak Strategic Opportunity Reit Ii 10-Q 12 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 09, 2016
Entity Listings [Line Items]
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	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1
Amendment Flag	false
Class A [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		11,843,284
Class T [Member]
Entity Listings [Line Items]
Entity Common Stock, Shares Outstanding		126,836

CONSOLIDATED BALANCE SHEETS (Un

CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Assets
Real estate, net	$ 114,665	$ 109,973
Real estate loan receivable, net	3,389	3,372
Total real estate and real estate-related investments, net	118,054	113,345
Cash and cash equivalents	39,440	24,768
Restricted cash	279	598
Rents and other receivables	512	311
Above-market leases, net	31	37
Due from affiliate	94	0
Prepaid expenses and other assets	1,791	670
Total assets	160,201	139,729
Liabilities and equity
Notes payable, net	64,988	60,836
Accounts payable and accrued liabilities	4,665	3,885
Due to affiliates	213	2,356
Distributions payable	93	0
Other liabilities	1,409	818
Total liabilities	$ 71,368	$ 67,895
Commitments and contingencies (Note 9)
Redeemable common stock	$ 1,088	$ 1,092
Equity
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	98,725	79,622
Cumulative distributions and net losses	(15,451)	(13,266)
Total KBS Strategic Opportunity REIT II, Inc. stockholders’ equity	83,388	66,452
Noncontrolling interests	4,357	4,290
Total equity	87,745	70,742
Total liabilities and equity	160,201	139,729
Class A [Member]
Equity
Common stock	114	96
Class T [Member]
Equity
Common stock	$ 0	$ 0

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) - $ / shares	Mar. 31, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	11,419,080	9,619,143
Common stock, shares outstanding	11,419,080	9,619,143
Class T [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	500,000,000	500,000,000
Common stock, shares issued	15,381	0
Common stock, shares outstanding	15,381	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues:
Hotel revenues	$ 3,647	$ 1,704
Office revenues	338	0
Interest income from real estate loan receivable	99	96
Total revenues	4,084	1,800
Expenses:
Hotel expenses	3,367	2,238
Office expenses	78	0
Asset management fees to affiliate	251	83
General and administrative expenses	698	353
Depreciation and amortization	1,280	181
Interest expense	665	299
Total expenses	6,339	3,154
Other income:
Other interest income	15	3
Total other income	15	3
Net loss	(2,240)	(1,351)
Net loss attributable to noncontrolling interest	148	105
Net loss attributable to common stockholders	(2,092)	(1,246)
Class A [Member]
Other income:
Net loss attributable to common stockholders	$ (2,091)	$ (1,246)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.19)	$ (0.25)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	10,737,932	5,050,468
Class T [Member]
Other income:
Net loss attributable to common stockholders	$ (1)	$ 0
Net loss per common share, basic and diluted (in dollars per share)	$ (0.20)	$ (0.25)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	2,557	268

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY (Unaudited) - USD ($) $ in Thousands	Total	Class A [Member]	Class T [Member]	Total Stockholders’ Equity [Member]	Common Stock [Member]Class A [Member]	Common Stock [Member]Class T [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions and Net Losses [Member]	Noncontrolling Interests [Member]
Balance, shares at Dec. 31, 2014					3,893,812	0
Balance, value at Dec. 31, 2014	$ 30,658			$ 29,001	$ 39	$ 0	$ 31,489	$ (2,527)	$ 1,657
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					4,959,727
Issuance of common stock, value	48,973			48,973	$ 49		48,924
Transfers from redeemable common stock	(1,092)			(1,092)			(1,092)
Stock dividends issued, shares					765,604
Stock dividends issued, value					$ 8		7,648	(7,656)
Distributions declared	(1,027)			(1,027)				(1,027)
Commissions on stock sales and related dealer manager fees to affiliate	(4,055)			(4,055)			(4,055)
Other offering costs	(3,292)			(3,292)			(3,292)
Net (loss) income	(1,949)			(2,056)				(2,056)	107
Noncontrolling interests contributions	2,532								2,532
Distribution to noncontrolling interest	(6)								(6)
Balance, shares at Dec. 31, 2015		9,619,143	0		9,619,143	0
Balance, value at Dec. 31, 2015	70,742			66,452	$ 96	$ 0	79,622	(13,266)	4,290
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Issuance of common stock, shares					1,800,471	15,381
Issuance of common stock, value	18,080			18,080	$ 18		18,062
Redemptions of common stock, shares					(534)
Redemptions of common stock	(4)			(4)			(4)
Transfers from redeemable common stock	4			4			4
Distributions declared	(93)			(93)				(93)
Commissions on stock sales and related dealer manager fees to affiliate	(1,580)			(1,580)			(1,580)
Reduction of other offering costs	2,621			2,621			2,621
Net (loss) income	(2,240)			(2,092)				(2,092)	(148)
Noncontrolling interests contributions	215								215
Balance, shares at Mar. 31, 2016		11,419,080	15,381		11,419,080	15,381
Balance, value at Mar. 31, 2016	$ 87,745			$ 83,388	$ 114	$ 0	$ 98,725	$ (15,451)	$ 4,357

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash Flows from Operating Activities:
Net loss	$ (2,240)	$ (1,351)
Adjustment to reconcile net loss to net cash used in operating activities
Depreciation and amortization	1,280	181
Noncash interest income on real estate-related investment	(17)	(15)
Deferred rents	(7)	0
Amortization of above-market leases	6	0
Amortization of deferred financing costs	111	55
Unrealized loss on derivative instrument	32	38
Changes in operating assets and liabilities:
Restricted cash for operational expenditures	340	142
Rents and other receivables	(194)	(47)
Prepaid expenses and other assets	(737)	(56)
Accounts payable and accrued liabilities	(10)	660
Due from affiliate	(94)	0
Due to affiliates	0	(684)
Other liabilities	591	440
Net cash used in operating activities	(939)	(637)
Cash Flows from Investing Activities:
Improvements to real estate	(5,095)	(135)
Restricted cash for capital expenditures	(21)	(7)
Net cash used in investing activities	(5,116)	(142)
Cash Flows from Financing Activities:
Proceeds from notes payable	4,042	0
Payments of deferred financing costs	(8)	(14)
Proceeds from issuance of common stock	18,080	5,692
Payments to redeem common stock	(4)	0
Payments of commissions on stock sales and related dealer manager fees	(1,580)	(401)
Payments of other offering costs	(18)	(4)
Noncontrolling interest contributions	215	0
Net cash provided by financing activities	20,727	5,273
Net increase in cash and cash equivalents	14,672	4,494
Cash and cash equivalents, beginning of period	24,768	13,257
Cash and cash equivalents, end of period	39,440	17,751
Supplemental Disclosure of Cash Flow Information:
Interest paid, net of capitalized interest of $31 for the three months ended March 31, 2016	413	142
Supplemental Disclosure of Noncash Investing and Financing Activities:
Increase in accrued improvements to real estate	876	28
Increase in other offering costs due to affiliates	0	449
Stock dividends issued	0	445
Increase in distributions payable	$ 93	$ 0

CONSOLIDATED STATEMENTS OF CAS7

CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (Parenthetical) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)
Income Statement [Abstract]
Interest capitalized	$ 31

ORGANIZATION

ORGANIZATION	3 Months Ended
	Mar. 31, 2016
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 elected to be taxed as a real estate investment trust (“REIT”) beginning with the taxable year ended December 31, 2014 and intends to continue to operate in such a manner. 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 three wholly owned taxable REIT subsidiaries (“TRS”), two of which lease the Company’s hotel properties and in turn contract with independent hotel management companies that manage the day-to-day operations of the Company’s hotels; the third consolidates the Company’s wholly owned TRSs. The Company’s TRSs are subject to federal and state income tax at regular corporate tax rates. Subject to certain restrictions and limitations, the business of the Company has been externally managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, since July 2013 pursuant to an advisory agreement the Company most recently renewed with the Advisor for an additional one -year term effective August 12, 2015 and amended at various times thereafter (the “Advisory Agreement”). The Advisor conducts the Company’s operations and manages its portfolio of real estate loans, opportunistic real estate, real estate-related debt securities and other real estate-related investments. The Advisor has entered into a sub-advisory agreement with STAM, a real estate operating company to provide real estate acquisition and portfolio management services to the Advisor in connection with any investments the Company may make 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 opportunistic real estate, real estate-related loans, 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 March 31, 2016 , the Company owned two hotel properties, one office property and one 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. On February 11, 2016, the Company filed an amended registration statement on Form S-11 with the SEC to offer a second class of common stock designated as Class T shares and to designate its initially offered and outstanding common stock as Class A shares. Pursuant to the amended registration statement, the Company is offering to sell any combination of Class A and Class T shares in the Public Offering but in no event may the Company sell more than 180,000,000 of shares of its common stock pursuant to the Public Offering. The Company commenced offering Class T shares of our common stock for sale to the public on February 17, 2016. The dealer manager is responsible for marketing the shares in the Public Offering. 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 originally dated August 12, 2014 and amended and restated February 17, 2016 (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 March 31, 2016, the Company had sold 6,775,579 shares of common stock in the Public Offering for gross offering proceeds of $67.1 million , including 62,365 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $0.6 million . Also as of March 31, 2016, the Company had redeemed 534 shares of common stock for $4,000 . On April 2, 2014 and July 31, 2014, the Company issued 120,106 shares and 120,106 shares of Class A 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	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2015. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2015 included in the Company’s Annual Report on Form 10-K filed with the SEC. Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016. The consolidated financial statements include the accounts of the Company, REIT Holdings, 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 opportunistic real estate investments 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 for each class of share outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2016 and 2015. For the purpose of determining the weighted average number of shares outstanding, stock dividends issued are adjusted retroactively and treated as if they were issued and outstanding for all periods presented. The Company’s board of directors has declared and issued the following stock dividends on shares of the Company’s common stock through the filing date of this report: Declaration Date Record Date Issue Date Amount Declared per Share Outstanding Total Shares Issued March 24, 2015 March 25, 2015 March 27, 2015 0.01 shares 44,538 April 7, 2015 June 24, 2015 June 29, 2015 0.01 shares 56,219 August 6, 2015 September 22, 2015 September 29, 2015 0.01 shares 65,710 November 10, 2015 December 16, 2015 December 22, 2015 0.01 shares 85,591 December 10, 2015 December 16, 2015 December 21, 2015 0.06 shares 513,546 March 21, 2016 March 31, 2016 April 1, 2016 0.005 shares 57,172 March 21, 2016 April 30, 2016 May 3, 2016 0.001667 shares 19,781 For the purpose of calculating the dollar amount of the Class A and Class T stock dividends issued, the Company used the current Class A and Class T primary offering price in the Public Offering. Cash distributions declared per share of Class A common stock was $0.008 for the three months ended March 31, 2016. Distributions declared per share of common stock assumes each share was issued and outstanding each day during the three months ended March 31, 2016. Each day during the period from March 1, 2016 through March 31, 2016 was a record date for distributions. Distributions for this period were calculated based on stockholders of record each day during this period at a rate of (i) $0.00026202 per share per day less (ii) the applicable daily stockholder servicing fees accrued for and allocable to any class of common stock, divided by the number of shares of common stock of such class outstanding as of the close of business on each respective record date. Given the distribution rate declared for the period and the applicable stockholder servicing fee for Class T shares of common stock, the Company did not pay cash distributions on shares of Class T common stock for record dates from March 1, 2016 to March 31, 2016. The Company did not declare cash distributions during the three months ended March 31, 2015. 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 was to be effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material 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 variable interest entities (“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. 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. On January 1, 2016, the Company adopted ASU No. 2015-02 and re-evaluated its consolidation analysis of its joint ventures, concluding that such adoption did not result in (a) the classification of any entities as VIEs, (b) a consolidation of entities not previously consolidated (c) a deconsolidation of entities previously consolidated. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 changes the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements.

REAL ESTATE

REAL ESTATE	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE As of March 31, 2016 , the Company’s real estate portfolio was composed of two hotel properties and one office property. The following table summarizes the Company’s real estate as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 Land $ 30,493 $ 30,493 Buildings and improvements 84,669 79,081 Tenant origination and absorption costs 748 748 Other intangibles 244 244 Total real estate, cost 116,154 110,566 Accumulated depreciation and amortization (1,489 ) (593 ) Total real estate, net $ 114,665 $ 109,973 The following table provides summary information regarding the Company’s real estate as of March 31, 2016 (in thousands): Property Date Acquired City State Property Type Land Building and Improvements Tenant Origination and Absorption Other Intangibles Total Real Estate, at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Springmaid Beach Resort 12/30/2014 Myrtle Beach SC Hotel $ 27,411 $ 24,267 $ — $ — $ 51,678 $ (624 ) $ 51,054 90.0 % Q&C Hotel 12/17/2015 New Orleans LA Hotel 1,232 49,706 — 244 51,182 (669 ) 50,513 90.0 % 2200 Paseo Verde 12/23/2015 Henderson NV Office 1,850 10,696 748 — 13,294 (196 ) 13,098 100.0 % $ 30,493 $ 84,669 $ 748 $ 244 $ 116,154 $ (1,489 ) $ 114,665 Hotel Properties The following table provides detail information regarding Q&C Hotel and Springmaid Beach Resort’s hotel revenue and expense for the three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Hotel Revenues: Room $ 2,557 900 Food, beverage and convention services 494 339 Campground 262 250 Other 334 215 Hotel Revenues $ 3,647 $ 1,704 Hotel Expenses: Room $ 834 424 Food, beverage and convention services 526 317 General and administrative 468 306 Sales and marketing 392 210 Repairs and maintenance 404 341 Utilities 185 251 Property taxes and insurance 298 216 Other 260 173 Hotel Expenses $ 3,367 $ 2,238 The following table provides summary information regarding our hotel properties as of March 31, 2016 : Property Number of Rooms Percentage Occupied for the Three Months Ended March 31, 2016 Average Revenue per Available Room Average Daily Rate Springmaid Beach Resort (1) 452 61.7 % $ 42.86 $ 69.52 Q&C Hotel 196 51.3 % $ 89.40 $ 174.14 _____________________ (1) In November 2015, Springmaid Beach Resort took 238 rooms of the 452 rooms available offline to complete the renovation of a building. The 238 rooms were excluded from the percentage occupied and average revenue per available room for the period they were offline. In January 2016, the majority of the 238 rooms were completed and placed back in service. In addition, in January 2016, Springmaid Beach Resort took 214 rooms offline to complete the renovation of a building. These offline rooms were excluded from the percentage occupied and average revenue per available room for the period they were offline. Office Property As of March 31, 2016 , the Company owned one office property containing 59,818 rentable square feet which was 72% occupied. The following table provides detail information regarding 2200 Paseo Verde office revenue and expense for the three months ended March 31, 2016 (in thousands): Office Revenues: Rental income $ 329 Tenant reimbursements and other income 9 Office Revenues $ 338 Office Expenses: Operating, maintenance, and management $ 59 Real estate taxes and insurance 19 Office Expenses $ 78 Operating Leases The Company’s office property is leased to tenants under operating leases for which the terms and expirations vary. As of March 31, 2016 , the lease had remaining terms, excluding options to extend, of up to 4.8 years with a weighted-average remaining term of 2.6 years. The lease may have provisions to extend the term of the lease, options for early termination for all or a part of the leased premises after paying a specified penalty, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires a security deposit from the tenant in the form of a cash deposit and/or a letter of credit. The amount required as a security deposit varies depending upon the terms of the respective lease and the creditworthiness of the tenant, but generally is not a significant amount. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit. Security deposits received in cash related to office tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $42,000 and $0.1 million as of March 31, 2016 and December 31, 2015, respectively. As of March 31, 2016 , the future minimum rental income from the Company’s office property under its non-cancelable operating leases was as follows (in thousands): April 1, 2016 through December 31, 2016 $ 813 2017 1,103 2018 960 2019 594 2020 349 Thereafter 85 $ 3,904

REAL ESTATE LOAN RECEIVABLE

REAL ESTATE LOAN RECEIVABLE	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
REAL ESTATE LOAN RECEIVABLE	REAL ESTATE LOAN RECEIVABLE As of March 31, 2016 , the Company had originated one real estate loan receivable as follows (dollars in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance Book Value (1) Book Value as of (1) Contractual Interest Rate (2) Annualized Effective Interest Rate (2) Maturity Date 655 Summer Street First Mortgage Boston, Massachusetts 09/04/2014 Office Mortgage $ 3,500 $ 3,389 $ 3,372 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 March 31, 2016 . The following summarizes the activity related to the real estate loan receivable for the three months ended March 31, 2016 (in thousands): Real estate loan receivable - December 31, 2015 $ 3,372 Amortization of closing costs and origination fees on real estate loan receivable 17 Real estate loan receivable - March 31, 2016 $ 3,389 For the three months ended March 31, 2016 and 2015, interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended March 31, 2016 2015 Contractual interest income $ 82 $ 81 Amortization of closing costs and origination fees, net 17 15 Interest income from real estate loan receivable $ 99 $ 96

NOTE PAYABLE

NOTE PAYABLE	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
NOTE PAYABLE	NOTES PAYABLE As of March 31, 2016 and December 31, 2015 , the Company’s notes payable consisted of the following (in thousands): Book Value as of March 31, 2016 Book Value as of December 31, 2015 Contractual Interest Rate (1) Effective Interest Rate (1) Payment Type Maturity Springmaid Beach Resort Mortgage Loan $ 30,042 $ 26,000 One-month LIBOR + 3.00% 3.44% Interest Only 12/30/2017 Q&C Hotel Mortgage Loan 28,330 28,330 One-month LIBOR + 3.25% 3.69% Interest Only (2) 12/17/2018 2200 Paseo Verde Mortgage Loan 7,430 7,430 One-month LIBOR + 2.25% 2.69% Interest Only 01/01/2017 Total notes payable principal outstanding 65,802 61,760 Deferred financing costs, net (814 ) (924 ) Total notes payable, net $ 64,988 $ 60,836 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2016 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2016 , where applicable. (2) Beginning February 1, 2018, monthly payments also include principal amortization payments of $55,000 per month, unless certain conditions described in the loan documents are satisfied. As of March 31, 2016 and December 31, 2015 , the Company’s deferred financing costs were $0.8 million and $0.9 million , respectively, net of amortization, and are included in notes payable, net on the accompanying consolidated balance sheets. During the three months ended March 31, 2016 and 2015, the Company incurred $ 0.7 million and $ 0.3 million of interest expense, respectively. As of March 31, 2016 and December 31, 2015 , $0.2 million and $0.1 million was payable, respectively. Included in interest expense for the three months ended March 31, 2016 and 2015 was $0.1 million and $0.1 million of amortization of deferred financing costs, respectively. Also included in interest expense for the three months ended March 31, 2016 and 2015 was $32,000 and $38,000 of interest expense incurred as a result of the Company’s interest rate cap agreements, respectively. Additionally, during the three months ended March 31, 2016, the Company capitalized $31,000 of interest related to its redevelopment project at Springmaid Beach Resort. The following is a schedule of maturities, including principal amortization payments, for all notes and bond payable outstanding as of March 31, 2016 (in thousands): April 1, 2016 through December 31, 2016 $ — 2017 37,472 2018 28,330 $ 65,802 The Company’s note payables contain financial and non-financial debt covenants. As of March 31, 2016 , 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	3 Months Ended
	Mar. 31, 2016
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENT	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 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 March 31, 2016 and December 31, 2015 , the Company had two interest rate caps outstanding, which were not designated as hedging instruments. The following table summarizes the notional amount and other information related to the Company’s derivative instruments as of March 31, 2016 and December 31, 2015 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): Fair Value of Asset Derivative Instruments Effective Date Maturity Date Notional Value Reference Rate March 31, 2016 December 31, 2015 Balance Sheet Location Interest Rate Cap 12/29/2014 01/01/2018 $ 26,000 One-month LIBOR at 3.00% $ 2 $ 5 Prepaid expenses and other assets Interest Rate Cap 12/16/2015 12/23/2018 $ 28,330 One-month LIBOR at 3.00% 11 40 Prepaid expenses and other assets Total Derivative Instruments not designated as hedging instruments $ 13 $ 45 During the three months ended March 31, 2016 and 2015, the Company recorded an unrealized loss of $32,000 and $38,000 on its derivative instrument, respectively, which was included in interest expense on the accompanying consolidated statements of operations.

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	3 Months Ended
	Mar. 31, 2016
Fair Value Disclosures [Abstract]
FAIR VALUE DISCLOSURES	FAIR VALUE DISCLOSURES Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other non-financial and financial assets at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model‑derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable. The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value: Cash and cash equivalents, 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 instruments: The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments are 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. Notes payable: The fair value 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 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 March 31, 2016 and December 31, 2015, which carrying amounts do not approximate the fair values (in thousands): March 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial asset: Real estate loan receivable $ 3,500 $ 3,389 $ 3,335 $ 3,500 $ 3,372 $ 3,311 Financial liability: Notes payable $ 65,802 $ 64,988 $ 65,935 $ 61,760 $ 60,836 $ 61,880 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. Despite increased capital market and credit market activity, transaction volume for certain financial instruments remains relatively low. This has made the estimation of fair values difficult and, therefore, both the actual results and the Company’s estimate of value at a future date could be materially different. As of March 31, 2016 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Asset derivatives - interest rate caps $ 13 $ — $ 13 $ —

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Company has entered into 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 and public offerings of KBS Growth & Income REIT and for the dividend reinvestment plan offering for KBS Strategic Opportunity REIT, KBS Legacy Partners Apartment REIT and KBS REIT III. Under the Amended Dealer Manager Agreement, the Dealer Manager receives an annual stockholder servicing fee of 1.0% of the purchase price per share (ignoring any discounts that may be available to certain categories of purchasers) of Class T common stock sold in the primary portion of the Public Offering solely to the extent there is a broker dealer of record with respect to such Class T share that has entered a currently effective selected dealer agreement or servicing agreement that provides for the payment to such broker dealer of the stockholder servicing fee with respect to such Class T share, and such broker dealer of record is in compliance with the applicable terms of such selected dealer agreement or servicing agreement related to such payment. To the extent payable, the stockholder servicing fee will accrue daily and be paid monthly in arrears, and the Dealer Manager will reallow 100% of the stockholder servicing fee to such broker dealer of record for services provided to Class T stockholders after the initial sale of the Class T share. In addition, no stockholder servicing fee will be paid with respect to Class T shares purchased through the dividend reinvestment plan or issued pursuant to a stock dividend. 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 months ended March 31, 2016 and 2015, 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 months ended March 31, 2016 and 2015, respectively, and any related amounts payable as of March 31, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, December 31, 2016 2015 2016 2015 Expensed Asset management fees 251 83 — Reimbursable operating expenses (1) 132 22 39 26 Real estate acquisition fee — — 95 108 Stockholder servicing fees (2) — — — — Capitalized Acquisition fees on development projects 79 — 79 — Additional Paid-in Capital Sales commissions 1,104 230 — — Dealer manager fees 476 171 — — Reimbursable other offering costs 16 453 — 2,222 $ 2,058 $ 959 $ 213 $ 2,356 _____________________ (1) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cyber-security 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 $132,000 and $22,000 for the three months ended March 31, 2016 and 2015, respectively, and were the only employee costs reimbursed under the Advisory Agreement for the three months ended March 31, 2016 and 2015. 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. (2) During the three months ended March 31, 2016 and 2015, the Company incurred $55 and $0 of stockholder serving fees, respectively, which was included in general and administrative expenses on the accompanying consolidated statements of operations. As of March 31, 2016, the Company had $0.1 million due from the Advisor, which consisted of a property insurance rebate and legal and professional fees reimbursable to the Company. Offering Costs Organization and offering costs (other than selling commissions, dealer manager fees and the stockholder servicing fee 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. The Company reimbursed the Dealer Manager for underwriting compensation in connection with the Private Offering. The Company also paid directly or reimbursed the Dealer Manager for due diligence expenses of broker dealers in connection with the Private Offering. During the Private Offering, there was no limit on the amount of organization and offering costs the Company could incur. As of March 31, 2016, the Company had recorded $1.0 million of offering costs (other than selling commissions and dealer manager fees) related to the Private Offering, all of which was initially paid by the Advisor or its affiliates on behalf of the Company and subsequently reimbursed by the Company. In addition, the Company paid $1.9 million in selling commissions and dealer manager fees related to the Private Offering. 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 no reimbursements made by the Company to the Advisor or the Dealer Manager may cause total organization and offering expenses incurred by the Company (including selling commissions, dealer manager fees, the stockholder servicing fee to exceed 15% of the aggregate gross proceeds from the Public Offering as of the date of reimbursement. In addition, at the termination of the primary portion of the Public Offering, the Advisor and its affiliates will reimburse the Company to the extent that the organization and other offering expenses (which exclude selling commissions, dealer manager fees and stockholder servicing fees) paid directly or reimbursed by the Company in connection with the primary portion of the Public Offering, regardless of when incurred, exceed 1.0% of gross offering proceeds from the primary portion of the Public Offering. The Advisor and its affiliates will be responsible for any organization and other offering expenses related to the primary portion of the Public Offering to the extent they exceed 1.0% of gross proceeds from the primary portion of the Public Offering as of the termination of the primary portion of the Public Offering. Through March 31, 2016, the Advisor and its affiliates had incurred organization and other offering costs (which exclude selling commissions dealer manager fees and stockholder servicing fees) on the Company’s behalf in connection with the Public Offering of approximately $6.1 million . As of March 31, 2016, the Company had paid $5.6 million in selling commissions and dealer manager fees. As of December 31, 2015, the Company had paid or accrued $3.3 million of other organization and offering expenses. After December 31, 2015, the Company reversed $2.2 million of accrued organization and offering expenses due to affiliates and reclassed $0.4 million of other organization and offering expenses paid to prepaid expenses and other assets on the accompanying consolidated balance sheet as of March 31, 2016 as a result of an amendment to the advisory agreement, which limits organization and other offering costs to 1.0% of gross proceeds from the primary portion of the Public Offering, as described above. As of March 31, 2016, the Company had $0.7 million of other organization and offering expenses, which amounts represent the Company’s maximum liability for organization and other offering costs as of March 31, 2016 based on the 1.0% limitation described above.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	3 Months Ended
	Mar. 31, 2016
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Management Agreement Springmaid Beach Resort The joint venture entity through which the Company leases the operations for Springmaid Beach Resort 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 the joint venture owner’s priority, which is 12% of the joint venture owner’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 months ended March 31, 2016 and 2015, the Company incurred $43,000 and $42,000 of fees related to the management agreement, respectively, and are included in hotel expenses on the accompanying consolidated statements of operations. Q&C Hotel A wholly owned subsidiary of the joint venture through which the Company leases the operations of the Q&C Hotel (“Q&C Hotel Operations”) has entered into a management agreement with Encore Hospitality, LLC (“Encore Hospitality”), an affiliate of the joint venture partner, pursuant to which Encore Hospitality will manage and operate the Q&C Hotel. The management agreement expires on December 17, 2035. Subject to certain conditions, Encore Hospitality may extend the term of the agreement for a period of five years. Pursuant to the management agreement Encore Hospitality will receive a base fee, which is 4.0% of gross revenue (as defined in the management agreement). During the three months ended March 31, 2016, the Company incurred $75,000 fees related to the management agreement and are included in hotel expenses on the accompanying consolidated statements of operations. Q&C Hotel Operations has also entered into a franchise agreement with Marriott International (“Marriott”) pursuant to which Marriott has granted Q&C Hotel Operations a limited, non-exclusive license to establish and operate the Q&C Hotel using certain of Marriott’s proprietary marks and systems and the hotel will be branded as a Marriott Autograph Collection hotel on or before June 30, 2016, subject to the completion of certain property improvement requirements. The franchise agreement expires on the 25th anniversary of the opening date (as defined in the agreement) with no renewal options. Pursuant to the franchise agreement, commencing on the opening date, Q&C Hotel Operations will pay Marriott a monthly franchise fee equal to a percent of gross room sales on a sliding scale that is initially 2% and increases to 5% after the third anniversary of the opening date and a monthly marketing fund contribution fee equal to 1.5% of the Q&C Hotel’s gross room sales. In addition, the franchise agreement requires the maintenance of a reserve account to fund all renovations at the hotel based on a percentage of gross revenues which starts at 2% of gross revenues and increases to 5% of gross revenues following the third anniversary of the opening date. Q&C Hotel Operations will also be responsible for the payment of certain other fees, charges and costs as set forth in the agreement. During the the three months ended March 31, 2016, the Company did not incur any fees related to the Marriott franchise agreement. In addition, in connection with the execution of the franchise agreement, SOR US Properties II is providing an unconditional guarantee that all Q&C Hotel Operations’ obligations under the franchise agreement will be punctually paid and performed. Finally, certain transfers of the Q&C Hotel or an ownership interest therein are subject to a notice and consent requirement, and the franchise agreement further provides Marriott with a right of first refusal with respect to a sale of the hotel to a competitor of Marriott. 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 March 31, 2016. 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	3 Months Ended
	Mar. 31, 2016
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 May 9, 2016, the Company had sold 7,234,284 shares of common stock in the Public Offering for aggregate gross offering proceeds of $71.6 million . Included in these amounts were 80,142 shares of common stock sold under our dividend reinvestment plan for gross offering proceeds of $0.8 million . Cash Distributions Paid On April 1, 2016, the Company paid distributions of $0.1 million related to cash distributions on the outstanding shares of the Company’s common stock based on daily record dates for the period from March 1, 2016 through March 31, 2016. Distributions for this period were calculated based on stockholders of record each day during the period at a rate of (i) $0.00026202 per share per day less (ii) the applicable daily stockholder servicing fees accrued for and allocable to any class of common stock, divided by the number of shares of common stock of such class outstanding as of the close of business on each respective record date. Given the distribution rate declared for the period and the applicable stockholder servicing fee for Class T shares of common stock, the Company did not pay cash distributions on shares of Class T common stock for record dates from March 1, 2016 to March 31, 2016. On May 3, 2016, the Company paid distributions of $0.2 million related to cash distributions on the outstanding shares of the common stock based on daily record dates for the period from April 1, 2016 through April 30, 2016. Distributions for this period were calculated based on stockholders of record each day during these periods at a rate of (i) $0.00052404 per share per day less (ii) the applicable daily stockholder servicing fees accrued for and allocable to any class of common stock, divided by the number of shares of common stock of such class outstanding as of the close of business on each respective record date. Stock Dividends Issued On March 21, 2016, the Company’s board of directors authorized a stock dividend for the first quarter of 2016, of 0.005 shares of each class of the Company’s common stock on each outstanding share of common stock issuable to all common stockholders of record as of the close of business on March 31, 2016. The Company issued this stock dividend, consisting of 57,172 shares, on April 1, 2016. Also, on March 21, 2016, the Company’s board of directors authorized stock dividends for the months of April and May, each in the amount of 0.001667 shares of each class of the Company’s common stock on each outstanding share of common stock issuable to all common stockholders of record as of the close of business on April 30, 2016 and May 31, 2016, respectively. The Company issued the April stock dividend, consisting of 19,781 shares, on May 3, 2016. Distributions Declared On May 10, 2016, the Company’s board of directors declared cash distributions on the outstanding shares of all classes of common stock based on daily record dates for the period from June 1, 2016 through June 30, 2016, which the Company expects to pay in July 2016 and cash distributions on the outstanding shares of all classes of common stock based on daily record dates for the period from July 1, 2016 through July 31, 2016, which the Company expects to pay in August 2016. Distributions for these periods will be calculated based on stockholders of record each day during these periods at a rate of (i) $0.00052404 per share per day less (ii) the applicable daily stockholder servicing fees accrued for and allocable to any class of common stock, divided by the number of shares of common stock of such class outstanding as of the close of business on each respective record date. Also on May 10, 2016, the Company’s board of directors authorized monthly stock dividends for the months of June and July, each in the amount of 0.001667 shares of each class of the Company’s common stock on each outstanding share of common stock issuable to all common stockholders of record as of the close of business on June 30, 2016 and July 31, 2016, respectively. The Company expects to issue these stock dividends on or about July 1, 2016 and August 1, 2016, respectively. Probable Acquisition of Lincoln Court On April 20, 2016, the Company, through an indirect wholly owned subsidiary, entered into an agreement of purchase and sale to acquire a three-story Class A office building containing 123,529 rentable square feet located on approximately 4.2 acres of land in Campbell, California (“Lincoln Court”). The contractual purchase price of Lincoln Court is approximately $51.5 million plus closing costs. There can be no assurance that the Company will complete the acquisition. In some circumstances, if the Company fails to complete the acquisition, it may forfeit up to $3.0 million of earnest money. Lincoln Court was built in 1985 and consistently renovated since completion. As of April 1, 2016, Lincoln Court was approximately 98% leased to 34 tenants with a weighted-average remaining lease term for the tenants is approximately 2.0 years.

SUMMARY OF SIGNIFICANT ACCOUN18

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation	The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three months ended March 31, 2016 are not necessarily indicative of the results that may be expected for the year ending December 31, 2016.
Principles of Consolidation	The consolidated financial statements include the accounts of the Company, REIT Holdings, 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 opportunistic real estate investments 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 for each class of share outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding during the three months ended March 31, 2016 and 2015. For the purpose of determining the weighted average number of shares outstanding, stock dividends issued are adjusted retroactively and treated as if they were issued and outstanding for all periods presented.
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 was to be effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted. In August 2015, the FASB issued ASU No. 2015-14, Revenue from Contracts with Customers (Topic 606): Deferral of the Effective Date (“ASU No. 2015-14”), which defers the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material 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 variable interest entities (“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. 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. On January 1, 2016, the Company adopted ASU No. 2015-02 and re-evaluated its consolidation analysis of its joint ventures, concluding that such adoption did not result in (a) the classification of any entities as VIEs, (b) a consolidation of entities not previously consolidated (c) a deconsolidation of entities previously consolidated. In January 2016, the FASB issued ASU No. 2016-01, Financial Instruments - Overall (Subtopic 825-10): Recognition and Measurement of Financial Assets and Financial Liabilities (“ASU No. 2016-01”). The amendments in ASU No. 2016-01 address certain aspects of recognition, measurement, presentation and disclosure of financial instruments. ASU No. 2016-01 primarily affects accounting for equity investments and financial liabilities where the fair value option has been elected. ASU No. 2016-01 also requires entities to present financial assets and financial liabilities separately, grouped by measurement category and form of financial asset in the balance sheet or in the accompanying notes to the financial statements. ASU No. 2016-01 is effective for annual periods beginning after December 15, 2017, including interim periods within those fiscal years. Early application is permitted for financial statements that have not been previously issued. The Company does not expect the adoption of ASU No. 2016-01 to have a significant impact on its financial statements. In February 2016, the FASB issued ASU No. 2016-02, Leases (Topic 842) (“ASU No. 2016-02”). The amendments in ASU No. 2016-02 changes the existing accounting standards for lease accounting, including requiring lessees to recognize most leases on their balance sheets and making targeted changes to lessor accounting. ASU No. 2016-02 is effective for annual periods beginning after December 15, 2018, including interim periods within those fiscal years. Early adoption of ASU No. 2016-02 as of its issuance is permitted. The new leases standard requires a modified retrospective transition approach for all leases existing at, or entered into after, the date of initial application, with an option to use certain transition relief. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements.

SUMMARY OF SIGNIFICANT ACCOUN19

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	3 Months Ended
	Mar. 31, 2016
Accounting Policies [Abstract]
Schedule of Dividends Declared and Shares Issued	The Company’s board of directors has declared and issued the following stock dividends on shares of the Company’s common stock through the filing date of this report: Declaration Date Record Date Issue Date Amount Declared per Share Outstanding Total Shares Issued March 24, 2015 March 25, 2015 March 27, 2015 0.01 shares 44,538 April 7, 2015 June 24, 2015 June 29, 2015 0.01 shares 56,219 August 6, 2015 September 22, 2015 September 29, 2015 0.01 shares 65,710 November 10, 2015 December 16, 2015 December 22, 2015 0.01 shares 85,591 December 10, 2015 December 16, 2015 December 21, 2015 0.06 shares 513,546 March 21, 2016 March 31, 2016 April 1, 2016 0.005 shares 57,172 March 21, 2016 April 30, 2016 May 3, 2016 0.001667 shares 19,781

REAL ESTATE (Tables)

REAL ESTATE (Tables)	3 Months Ended
	Mar. 31, 2016
Real Estate [Abstract]
Schedule of Real Estate	The following table provides summary information regarding our hotel properties as of March 31, 2016 : Property Number of Rooms Percentage Occupied for the Three Months Ended March 31, 2016 Average Revenue per Available Room Average Daily Rate Springmaid Beach Resort (1) 452 61.7 % $ 42.86 $ 69.52 Q&C Hotel 196 51.3 % $ 89.40 $ 174.14 _____________________ (1) In November 2015, Springmaid Beach Resort took 238 rooms of the 452 rooms available offline to complete the renovation of a building. The 238 rooms were excluded from the percentage occupied and average revenue per available room for the period they were offline. In January 2016, the majority of the 238 rooms were completed and placed back in service. In addition, in January 2016, Springmaid Beach Resort took 214 rooms offline to complete the renovation of a building. These offline rooms were excluded from the percentage occupied and average revenue per available room for the period they were offline. The following table summarizes the Company’s real estate as of March 31, 2016 and December 31, 2015 (in thousands): March 31, 2016 December 31, 2015 Land $ 30,493 $ 30,493 Buildings and improvements 84,669 79,081 Tenant origination and absorption costs 748 748 Other intangibles 244 244 Total real estate, cost 116,154 110,566 Accumulated depreciation and amortization (1,489 ) (593 ) Total real estate, net $ 114,665 $ 109,973 The following table provides summary information regarding the Company’s real estate as of March 31, 2016 (in thousands): Property Date Acquired City State Property Type Land Building and Improvements Tenant Origination and Absorption Other Intangibles Total Real Estate, at Cost Accumulated Depreciation and Amortization Total Real Estate, Net Ownership % Springmaid Beach Resort 12/30/2014 Myrtle Beach SC Hotel $ 27,411 $ 24,267 $ — $ — $ 51,678 $ (624 ) $ 51,054 90.0 % Q&C Hotel 12/17/2015 New Orleans LA Hotel 1,232 49,706 — 244 51,182 (669 ) 50,513 90.0 % 2200 Paseo Verde 12/23/2015 Henderson NV Office 1,850 10,696 748 — 13,294 (196 ) 13,098 100.0 % $ 30,493 $ 84,669 $ 748 $ 244 $ 116,154 $ (1,489 ) $ 114,665
Schedule of Hotel Revenue and Expense	The following table provides detail information regarding Q&C Hotel and Springmaid Beach Resort’s hotel revenue and expense for the three months ended March 31, 2016 and 2015 (in thousands): Three Months Ended March 31, 2016 2015 Hotel Revenues: Room $ 2,557 900 Food, beverage and convention services 494 339 Campground 262 250 Other 334 215 Hotel Revenues $ 3,647 $ 1,704 Hotel Expenses: Room $ 834 424 Food, beverage and convention services 526 317 General and administrative 468 306 Sales and marketing 392 210 Repairs and maintenance 404 341 Utilities 185 251 Property taxes and insurance 298 216 Other 260 173 Hotel Expenses $ 3,367 $ 2,238
Schedule of Office Property Revenue and Expense	The following table provides detail information regarding 2200 Paseo Verde office revenue and expense for the three months ended March 31, 2016 (in thousands): Office Revenues: Rental income $ 329 Tenant reimbursements and other income 9 Office Revenues $ 338 Office Expenses: Operating, maintenance, and management $ 59 Real estate taxes and insurance 19 Office Expenses $ 78
Schedule of Future Minimum Rental Income for Company's Properties	As of March 31, 2016 , the future minimum rental income from the Company’s office property under its non-cancelable operating leases was as follows (in thousands): April 1, 2016 through December 31, 2016 $ 813 2017 1,103 2018 960 2019 594 2020 349 Thereafter 85 $ 3,904

REAL ESTATE LOAN RECEIVABLE (Ta

REAL ESTATE LOAN RECEIVABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Receivables [Abstract]
Schedule of Real Estate Loan Receivable	As of March 31, 2016 , the Company had originated one real estate loan receivable as follows (dollars in thousands): Loan Name Location of Related Property or Collateral Date Originated Property Type Loan Type Outstanding Principal Balance Book Value (1) Book Value as of (1) Contractual Interest Rate (2) Annualized Effective Interest Rate (2) Maturity Date 655 Summer Street First Mortgage Boston, Massachusetts 09/04/2014 Office Mortgage $ 3,500 $ 3,389 $ 3,372 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 March 31, 2016 .
Schedule of Activity Related to Real Estate Loan Receivable	The following summarizes the activity related to the real estate loan receivable for the three months ended March 31, 2016 (in thousands): Real estate loan receivable - December 31, 2015 $ 3,372 Amortization of closing costs and origination fees on real estate loan receivable 17 Real estate loan receivable - March 31, 2016 $ 3,389
Schedule of Interest and Other Income	For the three months ended March 31, 2016 and 2015, interest income from the real estate loan receivable consisted of the following (in thousands): Three Months Ended March 31, 2016 2015 Contractual interest income $ 82 $ 81 Amortization of closing costs and origination fees, net 17 15 Interest income from real estate loan receivable $ 99 $ 96

NOTE PAYABLE (Tables)

NOTE PAYABLE (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of March 31, 2016 and December 31, 2015 , the Company’s notes payable consisted of the following (in thousands): Book Value as of March 31, 2016 Book Value as of December 31, 2015 Contractual Interest Rate (1) Effective Interest Rate (1) Payment Type Maturity Springmaid Beach Resort Mortgage Loan $ 30,042 $ 26,000 One-month LIBOR + 3.00% 3.44% Interest Only 12/30/2017 Q&C Hotel Mortgage Loan 28,330 28,330 One-month LIBOR + 3.25% 3.69% Interest Only (2) 12/17/2018 2200 Paseo Verde Mortgage Loan 7,430 7,430 One-month LIBOR + 2.25% 2.69% Interest Only 01/01/2017 Total notes payable principal outstanding 65,802 61,760 Deferred financing costs, net (814 ) (924 ) Total notes payable, net $ 64,988 $ 60,836 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2016 . Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2016 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2016 , where applicable. (2) Beginning February 1, 2018, monthly payments also include principal amortization payments of $55,000 per month, unless certain conditions described in the loan documents are satisfied.
Schedule of Maturities of Long-term Debt	The following is a schedule of maturities, including principal amortization payments, for all notes and bond payable outstanding as of March 31, 2016 (in thousands): April 1, 2016 through December 31, 2016 $ — 2017 37,472 2018 28,330 $ 65,802

DERIVATIVE INSTRUMENT (Tables)

DERIVATIVE INSTRUMENT (Tables)	3 Months Ended
	Mar. 31, 2016
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 instruments as of March 31, 2016 and December 31, 2015 . The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): Fair Value of Asset Derivative Instruments Effective Date Maturity Date Notional Value Reference Rate March 31, 2016 December 31, 2015 Balance Sheet Location Interest Rate Cap 12/29/2014 01/01/2018 $ 26,000 One-month LIBOR at 3.00% $ 2 $ 5 Prepaid expenses and other assets Interest Rate Cap 12/16/2015 12/23/2018 $ 28,330 One-month LIBOR at 3.00% 11 40 Prepaid expenses and other assets Total Derivative Instruments not designated as hedging instruments $ 13 $ 45

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	3 Months Ended
	Mar. 31, 2016
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 March 31, 2016 and December 31, 2015, which carrying amounts do not approximate the fair values (in thousands): March 31, 2016 December 31, 2015 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial asset: Real estate loan receivable $ 3,500 $ 3,389 $ 3,335 $ 3,500 $ 3,372 $ 3,311 Financial liability: Notes payable $ 65,802 $ 64,988 $ 65,935 $ 61,760 $ 60,836 $ 61,880
Schedule of Fair Value of Assets and Liabilities	As of March 31, 2016 , the Company measured the following assets at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Significant Unobservable Recurring Basis: Asset derivatives - interest rate caps $ 13 $ — $ 13 $ —

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	3 Months Ended
	Mar. 31, 2016
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three months ended March 31, 2016 and 2015, respectively, and any related amounts payable as of March 31, 2016 and December 31, 2015 (in thousands): Incurred Payable as of Three Months Ended March 31, March 31, December 31, 2016 2015 2016 2015 Expensed Asset management fees 251 83 — Reimbursable operating expenses (1) 132 22 39 26 Real estate acquisition fee — — 95 108 Stockholder servicing fees (2) — — — — Capitalized Acquisition fees on development projects 79 — 79 — Additional Paid-in Capital Sales commissions 1,104 230 — — Dealer manager fees 476 171 — — Reimbursable other offering costs 16 453 — 2,222 $ 2,058 $ 959 $ 213 $ 2,356 _____________________ (1) Reimbursable operating expenses primarily consists of internal audit personnel costs, accounting software and cyber-security 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 $132,000 and $22,000 for the three months ended March 31, 2016 and 2015, respectively, and were the only employee costs reimbursed under the Advisory Agreement for the three months ended March 31, 2016 and 2015. 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. (2) During the three months ended March 31, 2016 and 2015, the Company incurred $55 and $0 of stockholder serving fees, respectively, which was included in general and administrative expenses on the accompanying consolidated statements of operations.

ORGANIZATION (Details)

ORGANIZATION (Details) $ / shares in Units, $ in Thousands	3 Months Ended		12 Months Ended	13 Months Ended	15 Months Ended
	Mar. 31, 2016USD ($)loanpropertysubsidiaryshares	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)shares	Aug. 11, 2014USD ($)shares	Mar. 31, 2016USD ($)propertysubsidiaryshares	Jul. 31, 2014USD ($)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%
Number of Wholly Owned Subsidiaries | subsidiary	3				3
Proceeds from issuance of common stock | $	$ 18,080	$ 5,692
Proceeds from issuance of common stock, dividend reinvestment plan | $					$ 4
Class A [Member]
Organizational Structure [Line Items]
Common stock, shares issued	11,419,080		9,619,143		11,419,080
Common stock, value, issued | $	$ 114		$ 96		$ 114
Class A [Member] | Chief Executive Officer and the President [Member]
Organizational Structure [Line Items]
Common stock, value, issued | $						$ 1,000	$ 1,000
Class T [Member]
Organizational Structure [Line Items]
Common stock, shares issued	15,381		0		15,381
Common stock, value, issued | $	$ 0		$ 0		$ 0
Common Stock [Member]
Organizational Structure [Line Items]
Shares, dividend reinvestment plan					534
Common Stock [Member] | Class A [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares	1,800,471		4,959,727
Common Stock [Member] | Class T [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares	15,381
Private Placement [Member]
Organizational Structure [Line Items]
Proceeds from issuance of common stock | $				$ 32,200
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 | $					$ 67,100
Proceeds from issuance of common stock, dividend reinvestment plan | $					$ 600
IPO [Member] | Common Stock [Member]
Organizational Structure [Line Items]
Issuance of common stock, shares					6,775,579
Shares registered in primary offering								100,000,000
Shares registered for sale under dividend reinvestment plan								80,000,000
Shares, dividend reinvestment plan					62,365
IPO [Member] | Common Stock [Member] | Maximum [Member]
Organizational Structure [Line Items]
Stock offering, shares authorized for issuance								180,000,000
First Mortgage [Member]
Organizational Structure [Line Items]
Mortgage loans on real estate, number of loans | loan	1
Hotel [Member]
Organizational Structure [Line Items]
Number of real estate properties | property	2				2
Office Building [Member]
Organizational Structure [Line Items]
Number of real estate properties | property	1				1
KBS Capital Advisors LLC [Member]
Organizational Structure [Line Items]
Period of advisory agreement renewal	1 year
Common stock, shares issued									21,739
Common stock, purchase price per share | $ / shares									$ 9.20
Willowbrook Capital Group LLC [Member] | Class A [Member]
Organizational Structure [Line Items]
Common stock, shares issued						120,106	120,106

SUMMARY OF SIGNIFICANT ACCOUN27

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Stock Dividends) (Details)	May. 03, 2016shares	Apr. 01, 2016shares	Dec. 22, 2015shares	Dec. 21, 2015shares	Sep. 29, 2015shares	Jun. 29, 2015shares	Mar. 27, 2015shares
Subsequent Event [Line Items]
Amount Declared per Share Outstanding			0.01	0.06	0.01	0.01	0.01
Total Shares Issued			85,591	513,546	65,710	56,219	44,538
Subsequent Event [Member]
Subsequent Event [Line Items]
Amount Declared per Share Outstanding	0.001667	0.005
Total Shares Issued	19,781	57,172

SUMMARY OF SIGNIFICANT ACCOUN28

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details)	3 Months Ended
	Mar. 31, 2016$ / shares
Accounting Policies [Abstract]
Common Stock, Dividends, Per Share, Declared	$ 0.008

REAL ESTATE (Narrative) (Detail

REAL ESTATE (Narrative) (Details)	Mar. 31, 2016ft²property
Hotel [Member]
Real Estate Properties [Line Items]
Number of real estate properties	2
Office Building [Member]
Real Estate Properties [Line Items]
Number of real estate properties	1
Square feet in conference center | ft²	59,818

REAL ESTATE (Hotel Information)

REAL ESTATE (Hotel Information) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Total real estate, cost	$ 116,154	$ 110,566
Accumulated depreciation and amortization	(1,489)	(593)
Total real estate, net	114,665	109,973
Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	30,493	30,493
Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	84,669	79,081
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	748	748
Other Intangibles [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 244	$ 244

REAL ESTATE (Schedule of Real E

REAL ESTATE (Schedule of Real Estate Investments) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Real Estate Properties [Line Items]
Total real estate, cost	$ 116,154	$ 110,566
Accumulated depreciation and amortization	(1,489)	(593)
Total real estate, net	114,665	109,973
Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	30,493	30,493
Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	84,669	79,081
Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	748	748
Other Intangibles [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 244	$ 244
Springmaid Beach Resort [Member]
Real Estate Properties [Line Items]
Date Originated	Dec. 30, 2014
Total real estate, cost	$ 51,678
Accumulated depreciation and amortization	(624)
Total real estate, net	$ 51,054
Ownership %	90.00%
Springmaid Beach Resort [Member] | Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 27,411
Springmaid Beach Resort [Member] | Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	24,267
Springmaid Beach Resort [Member] | Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	0
Springmaid Beach Resort [Member] | Other Intangibles [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 0
Q and C Hotel [Member]
Real Estate Properties [Line Items]
Date Originated	Dec. 17, 2015
Total real estate, cost	$ 51,182
Accumulated depreciation and amortization	(669)
Total real estate, net	$ 50,513
Ownership %	90.00%
Q and C Hotel [Member] | Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 1,232
Q and C Hotel [Member] | Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	49,706
Q and C Hotel [Member] | Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	0
Q and C Hotel [Member] | Other Intangibles [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 244
2200 Paseo Verde [Member]
Real Estate Properties [Line Items]
Date Originated	Dec. 23, 2015
Total real estate, cost	$ 13,294
Accumulated depreciation and amortization	(196)
Total real estate, net	$ 13,098
Ownership %	100.00%
2200 Paseo Verde [Member] | Land [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 1,850
2200 Paseo Verde [Member] | Buildings and Improvements [Member]
Real Estate Properties [Line Items]
Total real estate, cost	10,696
2200 Paseo Verde [Member] | Tenant Origination and Absorption Costs [Member]
Real Estate Properties [Line Items]
Total real estate, cost	748
2200 Paseo Verde [Member] | Other Intangibles [Member]
Real Estate Properties [Line Items]
Total real estate, cost	$ 0

REAL ESTATE (Hotel Revenue and

REAL ESTATE (Hotel Revenue and Expenses) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Hotel Revenues:
Hotel Revenues	$ 3,647	$ 1,704
Hotel Expenses:
General and administrative	698	353
Hotel Expenses	3,367	2,238
Hotel [Member]
Hotel Revenues:
Room	2,557	900
Food, beverage and convention services	494	339
Campground	262	250
Other	334	215
Hotel Revenues	3,647	1,704
Hotel Expenses:
Room	834	424
Food, beverage and convention services	526	317
General and administrative	468	306
Sales and marketing	392	210
Repairs and maintenance	404	341
Utilities	185	251
Property taxes and insurance	298	216
Other	260	173
Hotel Expenses	$ 3,367	$ 2,238

REAL ESTATE (Hotel Properties)

REAL ESTATE (Hotel Properties) (Details) - Hotel [Member]	3 Months Ended
	Mar. 31, 2016room$ / room	Nov. 30, 2015room
Springmaid Beach Resort [Member]
Real Estate Properties [Line Items]
Number of Rooms | room	452	452
Percentage Occupied	61.70%
Average Revenue per Available Room | $ / room	42.86
Average Daily Rate | $ / room	69.52
Number of rooms under construction | room		238
Number of rooms under renovation | room		214
Q and C Hotel [Member]
Real Estate Properties [Line Items]
Number of Rooms | room	196
Percentage Occupied	51.30%
Average Revenue per Available Room | $ / room	89.40
Average Daily Rate | $ / room	174.14

REAL ESTATE (Office Property) (

REAL ESTATE (Office Property) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)ft²property	Mar. 31, 2015USD ($)
Real Estate Properties [Line Items]
Office Revenues	$ 4,084	$ 1,800
Office Expenses	$ 6,339	$ 3,154
Office Building [Member]
Real Estate Properties [Line Items]
Number of real estate properties | property	1
Square feet in conference center | ft²	59,818
Percentage of portfolio occupied	72.00%
Rental income	$ 329
Tenant reimbursements and other income	9
Office Revenues	338
Operating, maintenance, and management	59
Real estate taxes and insurance	19
Office Expenses	$ 78

REAL ESTATE (Operating Leases)

REAL ESTATE (Operating Leases) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Other Liabilities [Member]
Real Estate Properties [Line Items]
Security deposit liability	$ 42	$ 100
Maximum [Member]
Real Estate Properties [Line Items]
Operating lease, term	4 years 9 months 18 days
Weighted Average [Member]
Real Estate Properties [Line Items]
Operating lease, term	2 years 7 months 6 days

REAL ESTATE (Future Minimum Ren

REAL ESTATE (Future Minimum Rental Income) (Details) $ in Thousands	Mar. 31, 2016USD ($)
Real Estate [Abstract]
April 1, 2016 through December 31, 2016	$ 813
2,015	1,103
2,016	960
2,017	594
2,018	349
Thereafter	85
Future minimum rental income	$ 3,904

REAL ESTATE LOAN RECEIVABLE (Sc

REAL ESTATE LOAN RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)	Dec. 31, 2015USD ($)LoansReceivables
Accounts, Notes, Loans and Financing Receivable [Line Items]
Number of real estate loans receivable | LoansReceivables		1
Book Value	$ 3,389	$ 3,372
Mortgages [Member] | 655 Summer Street Mortgage Loan [Member]
Accounts, Notes, Loans and Financing Receivable [Line Items]
Date Originated	Sep. 4, 2014
Outstanding Principal Balance	$ 3,500
Book Value	$ 3,389	$ 3,372
Contractual Interest Rate	9.25%
Annualized Effective Interest Rate	11.68%
Maturity Date	Oct. 1, 2017

REAL ESTATE LOAN RECEIVABLE (38

REAL ESTATE LOAN RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Real Estate Loans Receivable [Roll Forward]
Real estate loan receivable - December 31, 2015	$ 3,372
Amortization of closing costs and origination fees on real estate loan receivable	17	$ 15
Real estate loan receivable - March 31, 2016	$ 3,389

REAL ESTATE LOAN RECEIVABLE (39

REAL ESTATE LOAN RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Receivables [Abstract]
Contractual interest income	$ 82	$ 81
Amortization of origination fees and costs and acquisition costs, net	17	15
Interest income from real estate loan receivable	$ 99	$ 96

NOTE PAYABLE (Schedule of Notes

NOTE PAYABLE (Schedule of Notes Payable) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 65,802	$ 61,760
Deferred financing costs, net	(814)	(924)
Total notes payable, net	64,988	60,836
Mortgages [Member] | Springmaid Beach Resort [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 30,042	26,000
Effective Interest Rate	3.44%
Maturity Date	Dec. 30, 2017
Mortgages [Member] | Springmaid Beach Resort [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Contractual Interest Rate	3.00%
Mortgages [Member] | Q and C Hotel [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 28,330	28,330
Effective Interest Rate	3.69%
Maturity Date	Dec. 17, 2018
Mortgages [Member] | Q and C Hotel [Member] | Beginning February 1, 2018 [Member]
Debt Instrument [Line Items]
Periodic payment	$ 55
Mortgages [Member] | Q and C Hotel [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Contractual Interest Rate	3.25%
Mortgages [Member] | 2200 Paseo Verde Mortgage Loan [Member]
Debt Instrument [Line Items]
Total notes payable principal outstanding	$ 7,430	$ 7,430
Effective Interest Rate	2.69%
Maturity Date	Jan. 1, 2017
Mortgages [Member] | 2200 Paseo Verde Mortgage Loan [Member] | One-month LIBOR [Member]
Debt Instrument [Line Items]
Contractual Interest Rate	3.25%

NOTE PAYABLE (Narrative) (Detai

NOTE PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Debt Instrument [Line Items]
Deferred finance costs	$ 800		$ 900
Interest expense	665	$ 299
Interest payable	200		$ 100
Amortization of deferred financing costs	111	55
Interest capitalized	31
Springmaid Beach Resort [Member]
Debt Instrument [Line Items]
Interest capitalized	31
Interest Rate Cap [Member]
Debt Instrument [Line Items]
Unrealized loss on derivative instruments	$ 32	$ 38

NOTE PAYABLE (Schedule of Matur

NOTE PAYABLE (Schedule of Maturities) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Disclosure [Abstract]
April 1, 2016 through December 31, 2016	$ 0
2,017	37,472
2,018	28,330
Total	$ 65,802	$ 61,760

DERIVATIVE INSTRUMENT (Details)

DERIVATIVE INSTRUMENT (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2016USD ($)instrument	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)instrument
Derivative [Line Items]
Fair Value of Asset	$ 13		$ 45
Interest Rate Cap [Member]
Derivative [Line Items]
Number of Instruments Held | instrument	2		2
Unrealized loss on derivative instruments	$ 32	$ 38
Interest Rate Cap [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative [Line Items]
Notional Value	26,000
Fair Value of Asset	$ 2		$ 5
Interest Rate Cap [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	3.00%
Interest Rate Cap 1 [Member] | Prepaid Expenses and Other Current Assets [Member]
Derivative [Line Items]
Notional Value	$ 28,330
Fair Value of Asset	$ 11		$ 40
Interest Rate Cap 1 [Member] | One-month LIBOR [Member]
Derivative [Line Items]
Reference Rate	3.00%

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Face Value	$ 3,500	$ 3,500
Notes payable, Face Value	65,802	61,760
Carrying Amount [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	3,389	3,372
Notes payable, Value	64,988	60,836
Fair Value [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Real estate loans receivable, Value	3,335	3,311
Notes payable, Value	$ 65,935	$ 61,880

FAIR VALUE DISCLOSURES (Sched45

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) - Recurring Basis [Member] $ in Thousands	Mar. 31, 2016USD ($)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivatives - interest rate caps	$ 13
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 derivatives - interest rate caps	0
Significant Other Observable Inputs (Level 2) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivatives - interest rate caps	13
Significant Unobservable Inputs (Level 3) [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Asset derivatives - interest rate caps	$ 0

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	3 Months Ended	33 Months Ended
	Mar. 31, 2016	Mar. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Term of advisory agreement	1 year
Period of termination notice	60 days
Due from affiliate	$ 94	$ 94	$ 0
Private Placement [Member]
Related Party Transaction [Line Items]
Offering costs (other than selling commissions and dealer manager fees)	1,000	1,000
Selling commissions and dealer manager fees	1,900
IPO [Member]
Related Party Transaction [Line Items]
Selling commissions and dealer manager fees		5,600
Organization and offering costs incurred by related party		$ 6,100
Related party transactions, amount paid or accrued			$ 3,300
Reversal of accrued organization and offering expenses due to affiliates	2,200
Reclassification of other organization and offering expenses	400
Other organization and offering costs	$ 700
IPO [Member] | KBS Capital Advisors LLC [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Percentage of selling commissions, dealer manager fees, and organization and other offering costs of gross offering proceeds	15.00%
Reimbursable offering costs determination, gross offering costs, percentage	1.00%	1.00%
Reimbursed offering costs determination, gross offering costs, percentage	1.00%
KBS Capital Advisors LLC [Member]
Related Party Transaction [Line Items]
Due from affiliate	$ 100	$ 100
Class T [Member]
Related Party Transaction [Line Items]
Annual stockholder servicing fee as percent of purchase price	1.00%	1.00%

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Related-party Costs) (Details) - USD ($)	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Payable as of	$ 213,000		$ 2,356,000
Payment for administrative fees	132,000	$ 22,000
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Stockholder serving fees	55	0
Advisor and Dealer Manager [Member]
Related Party Transaction [Line Items]
Incurred	2,058,000	959,000
Payable as of	213,000		2,356,000
Advisor and Dealer Manager [Member] | Acquisition Fee on Development Projects [Member]
Related Party Transaction [Line Items]
Incurred	79,000	0
Payable as of	79,000		0
Advisor and Dealer Manager [Member] | Sales Commissions [Member]
Related Party Transaction [Line Items]
Incurred	1,104,000	230,000
Payable as of	0		0
Advisor and Dealer Manager [Member] | Dealer Manager Fees [Member]
Related Party Transaction [Line Items]
Incurred	476,000	171,000
Payable as of	0		0
Advisor and Dealer Manager [Member] | Reimbursable Other Offering Costs [Member]
Related Party Transaction [Line Items]
Incurred	16,000	453,000
Payable as of	0		$ 2,222,000
Advisor and Dealer Manager [Member] | Expensed [Member] | Asset Management Fees [Member]
Related Party Transaction [Line Items]
Expenses	251,000	83,000
Payable as of	0
Advisor and Dealer Manager [Member] | Expensed [Member] | Reimbursable Operating Expenses [Member]
Related Party Transaction [Line Items]
Expenses	132,000	22,000
Payable as of	39,000		$ 26,000
Advisor and Dealer Manager [Member] | Expensed [Member] | Real Estate Acquisition Fee [Member]
Related Party Transaction [Line Items]
Expenses	0	0
Payable as of	95,000		108,000
Advisor and Dealer Manager [Member] | Expensed [Member] | Stockholder Servicing Fees [Member]
Related Party Transaction [Line Items]
Expenses	0	$ 0
Payable as of	$ 0		$ 0

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Springmaid Beach Resort [Member] | Doubletree Management LLC [Member]
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%
Percent of total investments	12.00%
Brand services fee as percent of total room revenue	4.00%
Fees incurred to management agreement	$ 43	$ 42
Q and C Hotel [Member] | Encore Hospitality, LLC [Member]
Loss Contingencies [Line Items]
Base fee as percentage of gross revenue	4.00%
Q and C Hotel [Member] | Encore Hospitality, LLC [Member] | Direct Costs of Hotels [Member]
Loss Contingencies [Line Items]
Management agreement, fees accrued	$ 75
Q and C Hotel [Member] | Marriott International [Member]
Loss Contingencies [Line Items]
Brand services fee as percent of total room revenue	2.00%
Brand services fee as percent of total room revenue, after three years	5.00%
Monthly marketing fund contribution fees as percent of gross room sales	1.50%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details) $ / shares in Units, $ in Thousands	May. 10, 2016$ / shares	May. 03, 2016USD ($)$ / sharesshares	Apr. 01, 2016USD ($)$ / sharesshares	Dec. 22, 2015shares	Dec. 21, 2015shares	Sep. 29, 2015shares	Jun. 29, 2015shares	Mar. 27, 2015shares	Mar. 31, 2016USD ($)	Mar. 31, 2015USD ($)	Mar. 31, 2016USD ($)shares	May. 09, 2016USD ($)shares
Subsequent Event [Line Items]
Proceeds from issuance of common stock | $									$ 18,080	$ 5,692
Proceeds from issuance of common stock, dividend reinvestment plan | $											$ 4
Amount declared per share outstanding				0.01	0.06	0.01	0.01	0.01
Stock dividends issued, shares | shares				85,591	513,546	65,710	56,219	44,538
Common Stock [Member]
Subsequent Event [Line Items]
Shares, dividend reinvestment plan | shares											534
Subsequent Event [Member]
Subsequent Event [Line Items]
Amount declared per share outstanding		0.001667	0.005
Stock dividends issued, shares | shares		19,781	57,172
Subsequent Event [Member] | Dividend Paid [Member]
Subsequent Event [Line Items]
Dividends, common stock | $		$ 200	$ 100
Distribution rate per share per day, declared | $ / shares		$ 0.00052404	$ 0.00026202
Subsequent Event [Member] | Dividend Declared [Member]
Subsequent Event [Line Items]
Amount declared per share outstanding	0.001667
Distribution rate per share per day on annual basis, declared | $ / shares	$ 0.00052404
Subsequent Event [Member] | Common Stock [Member]
Subsequent Event [Line Items]
Issuance of common stock, shares | shares												7,234,284
Proceeds from issuance of common stock | $												$ 71,600
Shares, dividend reinvestment plan | shares												80,142
Proceeds from issuance of common stock, dividend reinvestment plan | $												$ 800

SUBSEQUENT EVENTS (Probable Acq

SUBSEQUENT EVENTS (Probable Acquisition of Lincoln Court) (Details) - Subsequent Event [Member] - Lincoln Court [Member] - Scenario, Plan [Member] $ in Millions	Apr. 20, 2016USD ($)aft²Tenants
Subsequent Event [Line Items]
Net rentable area | ft²	123,529
Area of land | a	4.2
Consideration transferred	$ 51.5
Amount that may be forfeited	$ 3
Percent of property leased	98.00%
Number of tenants | Tenants	34
Weighted-average remaining lease term	2 years