City Office REIT (CIO) 10-Q 4 Aug 16 2016 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2016	Aug. 03, 2016
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q2
Trading Symbol	CIO
Entity Registrant Name	City Office REIT, Inc.
Entity Central Index Key	1,593,222
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Entity Common Stock, Shares Outstanding		24,355,556

Condensed Consolidated Balance

Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Real estate properties, cost
Land	$ 91,478	$ 90,205
Building and improvement	252,138	256,317
Tenant improvement	41,535	35,069
Furniture, fixtures and equipment	210	198
Real estate properties, gross	385,361	381,789
Accumulated depreciation	(30,050)	(26,909)
Real estate properties, net	355,311	354,880
Cash and cash equivalents	7,656	8,138
Restricted cash	52,981	15,176
Rents receivable, net	14,525	14,382
Deferred leasing costs, net of accumulated amortization	4,565	5,074
Acquired lease intangibles assets, net	38,457	40,990
Prepaid expenses and other assets	2,587	1,567
Total Assets	476,082	440,207
Liabilities:
Debt	289,841	341,278
Accounts payable and accrued liabilities	9,956	8,745
Deferred rent	1,926	2,653
Tenant rent deposits	2,031	2,178
Acquired lease intangibles liability, net	2,017	2,292
Dividend distributions payable	5,736	3,663
Earn-out liability	1,900	5,678
Total Liabilities	313,407	366,487
Commitments and Contingencies (Note 9)
Equity:
Common stock, $0.01 par value, 100,000,000 shares authorized, 21,209,472 and 12,517,777 shares issued and outstanding	212	125
Additional paid-in capital	187,538	95,318
Accumulated deficit	(35,124)	(29,598)
Total Stockholders' Equity	152,626	65,845
Operating Partnership unitholders' non-controlling interests	10,789	8,550
Non-controlling interests in properties	(740)	(675)
Total Equity	162,675	73,720
Total Liabilities and Equity	$ 476,082	$ 440,207

Condensed Consolidated Balance3

Condensed Consolidated Balance Sheets (Parenthetical) - $ / shares	Jun. 30, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Common stock, par value	$ 0.01	$ 0.01
Common stock, shares authorized	100,000,000	100,000,000
Common stock, shares issued	21,209,472	12,517,777
Common stock, shares outstanding	21,209,472	12,517,777

Condensed Consolidated Statemen

Condensed Consolidated Statements of Operations - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Revenues:
Rental income	$ 14,203	$ 10,196	$ 28,276	$ 20,237
Expense reimbursement	1,562	1,145	3,344	2,036
Other	327	293	750	621
Total Revenues	16,092	11,634	32,370	22,894
Operating Expenses:
Property operating expenses	6,236	4,127	12,398	8,243
Acquisition costs	87	882	87	1,091
Stock based compensation	615	507	1,157	916
General and administrative	929	495	1,630	902
Base management fee		327	109	659
External advisor acquisition			7,045
Depreciation and amortization	6,520	4,494	13,071	8,900
Total Operating Expenses	14,387	10,832	35,497	20,711
Operating income/(loss)	1,705	802	(3,127)	2,183
Interest Expense:
Contractual interest expense	(3,139)	(2,103)	(6,885)	(4,112)
Amortization of deferred financing costs	(250)	(185)	(471)	(354)
Interest expense, net	(3,389)	(2,288)	(7,356)	(4,466)
Change in fair value of earn-out		(600)		(600)
Net gain on sale of real estate property	15,934		15,934
Net income/(loss)	14,250	(2,086)	5,451	(2,883)
Less: Net income attributable to noncontrolling interests in properties	(110)	(134)	(177)	(255)
Less: Net (income)/loss attributable to Operating Partnership unitholders' noncontrolling interests	(2,613)	422	(874)	598
Net income/(loss) attributable to stockholders	$ 11,527	$ (1,798)	$ 4,400	$ (2,540)
Net income/(loss) per share:
Basic	$ 0.56	$ (0.15)	$ 0.26	$ (0.21)
Diluted	$ 0.48	$ (0.15)	$ 0.22	$ (0.21)
Weighted average common shares outstanding:
Basic	20,729	12,365	16,746	12,328
Diluted	24,235	12,365	20,237	12,328
Dividends/distributions declared per common share and unit	$ 0.235	$ 0.235	$ 0.235	$ 0.235

Condensed Consolidated Stateme5

Condensed Consolidated Statement of Changes in Equity - 6 months ended Jun. 30, 2016 - USD ($) $ in Thousands	Total	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Parent [Member]	Operating Partnership Unitholders' Non-controlling Interests [Member]	Non-controlling Interests in Properties [Member]
Beginning balance at Dec. 31, 2015	$ 73,720	$ 125	$ 95,318	$ (29,598)	$ 65,845	$ 8,550	$ (675)
Beginning balance, shares at Dec. 31, 2015	12,517,777	12,518,000
Conversion of common units to shares, values			131		131	(131)
Conversion of common units to shares, shares	45,000	45,000
Restricted stock award grants and vesting, values	$ 1,157	$ 2	1,155		1,157
Restricted stock award grants and vesting, shares		152,000
Internalization payment in shares, values	3,464	$ 3	3,461		3,464
Internalization payment in shares, shares		297,000
Earn out payment in shares, values	3,778	$ 2	767		769	3,009
Earn out payment in shares, shares		147,000
Net proceeds from sale of common stock, values	86,786	$ 80	86,706		86,786
Net proceeds from sale of common stock, shares		8,050,000
Dividend distributions declared	(11,439)			(9,926)	(9,926)	(1,513)
Distributions	(242)						(242)
Net income	5,451			4,400	4,400	874	177
Ending balance at Jun. 30, 2016	$ 162,675	$ 212	$ 187,538	$ (35,124)	$ 152,626	$ 10,789	$ (740)
Ending balance, shares at Jun. 30, 2016	21,209,472	21,209,000

Condensed Consolidated Stateme6

Condensed Consolidated Statements of Cash Flows - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Cash Flows from Operating Activities:
Net income/(loss)	$ 5,451	$ (2,883)
Adjustments to reconcile net income/loss to net cash provided by operating activities:
Depreciation and amortization	13,071	8,900
Amortization of deferred financing costs	471	354
Amortization of above/below market leases	120	280
Increase in straight-line rent	(2,911)	(71)
Non-cash stock compensation	1,157	916
Change in fair value of earn-out		600
Internalization shares issued	3,464
Net gain on sale of real estate property	(15,934)
Changes in non-cash working capital:
Rents receivable, net	(2,438)	(3,583)
Prepaid expenses and other assets	(955)	(394)
Accounts payable and accrued liabilities	995	2,610
Deferred rent	(727)	(1,152)
Tenant rent deposits	(150)	8
Net Cash Provided By Operating Activities	1,614	5,585
Cash Flows from/(to) Investing Activities:
Additions to real estate properties	(6,012)	(1,756)
Acquisition of real estate, net of cash assumed	(25,842)	(69,445)
Net proceeds from sale of real estate	42,983
Deferred leasing costs	(689)	(2,454)
Net Cash Provided By/(Used In) Investing Activities	10,440	(73,655)
Cash Flows (to)/from Financing Activities:
Proceeds from sale of common shares	86,786
Debt issuance and extinguishment costs	(226)	(255)
Proceeds from mortgage loan payable		17,000
Proceeds from revolving credit facility		34,692
Repayment of mortgage loans payable	(51,685)	(537)
Distributions to non-controlling interests in properties	(242)	(207)
Dividend distributions paid to stockholders and Operating Partnership unitholders	(9,364)	(7,171)
Change in restricted cash	(37,805)	979
Net Cash (Used In)/Provided By Financing Activities	(12,536)	44,501
Net Increase/(Decrease) in Cash and Cash Equivalents	(482)	(23,569)
Cash and Cash Equivalents, Beginning of Period	8,138	34,862
Cash and Cash Equivalents, End of Period	7,656	11,293
Supplemental Disclosures of Cash Flow Information:
Cash paid for interest	7,100	$ 4,055
Earn-out payment in shares	$ 3,778

Organization and Description of

Organization and Description of Business	6 Months Ended
	Jun. 30, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Description of Business	1. Organization and Description of Business City Office REIT, Inc. (the “Company”) was organized in the state of Maryland on November 26, 2013. On April 21, 2014, the Company completed its initial public offering (“IPO”) of shares of the Company’s common stock. The Company contributed the net proceeds of the IPO to City Office REIT Operating Partnership, L.P., a Maryland limited partnership (the “Operating Partnership”), in exchange for common units of limited partnership interest in the Operating Partnership (“common units”). Both the Company and the Operating Partnership commenced operations upon completion of the IPO and certain related formation transactions (the “Formation Transactions”). The Company’s interest in the Operating Partnership entitles the Company to share in distributions from, and allocations of profits and losses of, the Operating Partnership in proportion to the Company’s percentage ownership of common units. As the sole general partner of the Operating Partnership, the Company has the exclusive power under the Operating Partnership’s partnership agreement to manage and conduct the Operating Partnership’s business, subject to limited approval and voting rights of the limited partners. The Company has elected to be taxed and will continue to operate in a manner that will allow it to qualify as a real estate investment trust (“REIT”) under the Internal Revenue Code of 1986, as amended (the “Code”). Subject to qualification as a REIT, the Company will be permitted to deduct dividend distributions paid to its stockholders, eliminating the U.S. federal taxation of income represented by such distributions at the Company level. REITs are subject to a number of organizational and operational requirements. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to U.S. federal and state income tax on its taxable income at regular corporate tax rates and any applicable alternative minimum tax. On February 1, 2016, the Company closed on the previously announced management internalization (“the Internalization”). The Company had previously entered into a Stock Purchase Agreement (“Stock Purchase Agreement”) with certain stockholders of the Company’s external advisor, City Office Real Estate Management Inc. (the “Advisor”) pursuant to which the Company acquired all of the outstanding stock of the Advisor. Pursuant to this Stock Purchase Agreement, at closing, the Company issued 297,321 shares of its common stock with a fair market value of $3.5 million to the stockholders of the Advisor (the “Sellers”), which included the Company’s three executive officers and Samuel Belzberg, a director of the Company. In addition, the Company was required to make cash payments to the Sellers of up to $3.5 million if the Company’s fully diluted market capitalization reached the following thresholds prior to December 31, 2016: $1 million upon the Company achieving a $200 million fully diluted market capitalization, an additional $1 million upon the Company achieving a $225 million fully diluted market capitalization and an additional $1.5 million upon the Company achieving a $250 million fully diluted market capitalization. The Company paid an additional $3.5 million in the first quarter of 2016 representing the payments to be made to the Sellers upon reaching these fully diluted market capitalizations, which, together with the initial payment and professional fees, resulted in a total cost of $7.0 million in the six months ended June 30, 2016. The amount was recorded as an expense in the accompanying condensed consolidated statements of operations as it represented the cost of terminating the relationship. In connection with the closing of the Internalization, the Company entered into an amendment to the Advisory Agreement between the Company, the Operating Partnership and the Company’s former external Advisor (“Advisory Agreement”) that eliminates the payment of acquisition fees by the Company to the Advisor. In addition, each of the Company’s executive officers entered into an employment agreement with the Company and became employees of the Company, and, at the same time, approximately eleven additional former employees of the Advisor and its affiliates became employees of the Company. In connection with the closing of the transactions under the Stock Purchase Agreement, a subsidiary of the Company entered into an Administrative Services Agreement (the “Administrative Services Agreement”) with Second City Capital II Corporation and Second City Real Estate II Corporation, related entities controlled by Mr. Belzberg. The Administrative Services Agreement has a three year term and pursuant to the agreement, the Company will provide various administrative services and support to the related entities managing the Second City funds. The Company’s subsidiary will receive annual payments for these services under the Administrative Services Agreement as follows: first 12 months—$1.5 million, second 12 months—$1.15 million and third 12 months—$0.625 million, for a total of $3.275 million over the three-year term.

Summary of Significant Accounti

Summary of Significant Accounting Policies	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies Basis of Preparation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with Securities and Exchange Commission rules and regulations and generally accepted accounting principles in the United States of America (“US GAAP”) and in the opinion of management contain all adjustments (including normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015. New Accounting Pronouncements In April 2015, the FASB issued ASU 2015-3, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in financial statements. ASU 2015-3 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. ASU 2015-3 is effective for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The new guidance must be applied retrospectively to each prior period presented. The Company adopted ASU 2015-3 on January 1, 2016 and retrospectively reclassified $3.4 million of debt issuance costs as of December 31, 2015 from deferred financing costs, net. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments. The update requires that acquiring entities in a business combination recognize adjustments to provisional amounts identified in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount, as if the accounting had been completed at the acquisition date. Adjustments related to previous reporting periods must be disclosed by income statement line item, either on the face of the income statement or in the notes, in the period for which the adjustment was identified. ASU 2015-16 was adopted January 1, 2016. The impact, if any, of adopting ASU 2015-16 on the Company’s financial statements will depend on the nature of business combinations that occur. In February 2016, the FASB issued ASU 2016-02, Leases. The update amends 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. The 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. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In March 30, 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) ,

Real Estate Investments

Real Estate Investments	6 Months Ended
	Jun. 30, 2016
Real Estate [Abstract]
Real Estate Investments	3. Real Estate Investments Acquisitions During the six months ended June 30, 2016 and 2015, the Company, through the Operating Partnership, acquired the following properties: Property Date Acquired Percentage Owned Carillon Point June 2016 100 % DTC Crossroads June 2015 100 % Superior Pointe June 2015 100 % Logan Tower February 2015 100 % The above acquisitions have been accounted for as business combinations. The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the six months ended June 30, 2015 (in thousands): Logan Tower Superior Pointe DTC Crossroads Total June 30, 2015 Land $ 1,306 $ 3,153 $ 7,137 $ 11,596 Buildings and improvements 7,844 19,250 22,545 49,639 Tenant improvements 353 584 638 1,575 Acquired intangible assets 1,274 2,866 4,152 8,292 Prepaid expenses and other assets — 24 — 24 Accounts payable and other liabilities (48 ) (316 ) (605 ) (969 ) Lease intangible liabilities (306 ) (53 ) (353 ) (712 ) Total Consideration $ 10,423 $ 25,508 $ 33,514 $ 69,445 On June 29, 2016, the Company, through the Operating Partnership, acquired 100% of Carillon Point, a property in Denver, Colorado, for $25.8 million, excluding closing costs. The following table summarizes the Company’s preliminary allocation of the purchase price of assets acquired and liabilities assumed (in thousands): Carillon Point Land $ 5,030 Buildings and improvements 14,100 Tenant improvements 2,739 Acquired intangible assets 4,140 Prepaid expenses and other assets 73 Accounts payable and other liabilities (217 ) Lease intangible liabilities (23 ) Total consideration $ 25,842 Sale of Real Estate Property On June 15, 2016, the Company sold the Corporate Parkway property in Allentown, Pennsylvania, and its related assets and liabilities, for a sales price of $44.9 million, resulting in an aggregate net gain of $15.9 million, net of $2.0 million in costs, which has been classified as net gain on sale of real estate property in the condensed consolidated statements of operations. In connection with the sale of the property, certain debt repayments were made. In accordance with ASU 2014-08, the sale was not considered a discontinued operation. Proceeds from the sale were applied subsequently in a like-kind exchange so as to qualify for tax-deferred treatment under Section 1031 of the Code. Net proceeds after debt repayments and costs are presented in restricted cash on the Company’s balance sheet. The following table presents the unaudited revenues and income from continuing operations for Logan Tower, Superior Pointe, DTC Crossroads and Carillon Point on a pro forma basis as if the Company had completed the acquisition of the property as of January 1, 2015 (in thousands): Six Months Ended Six Months Ended Total revenues as reported by City Office REIT, Inc. $ 32,370 $ 22,894 Plus: Logan Tower — 143 Plus: Superior Pointe — 1,666 Plus: DTC Crossroads — 1,904 Plus: Carillon Point 1,095 1,106 Pro forma total revenues $ 33,465 $ 27,713 Total operating (loss)/income as reported by City Office REIT, Inc. $ (3,127 ) $ 2,183 Property acquisition costs 87 (87 ) Plus: Logan Tower — (13 ) Plus: Superior Pointe — (86 ) Plus: DTC Crossroads — (59 ) Plus: Carillon Point (309 ) (302 ) Pro forma operating (loss)/income $ (3,349 ) $ 1,636

Lease Intangibles

Lease Intangibles	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Lease Intangibles	4. Lease Intangibles Lease intangibles and the value of assumed lease obligations as of June 30, 2016 and December 31, 2015 were comprised as follows (in thousands): June 30, 2016 Above In Place Leasing Total Below Below Total Cost $ 6,116 $ 42,636 $ 18,863 $ 67,615 $ (2,951 ) $ (138 ) $ (3,089 ) Accumulated amortization (3,251 ) (19,092 ) (6,815 ) (29,158 ) 1,045 27 1,072 $ 2,865 $ 23,544 $ 12,048 $ 38,457 $ (1,906 ) $ (111 ) $ (2,017 ) December 31, 2015 Above In Place Leasing Total Below Below Total Cost $ 5,616 $ 44,478 $ 17,530 $ 67,624 $ (2,928 ) $ (138 ) $ (3,066 ) Accumulated amortization (2,830 ) (17,641 ) (6,163 ) (26,634 ) 750 24 774 $ 2,786 $ 26,837 $ 11,367 $ 40,990 $ (2,178 ) $ (114 ) $ (2,292 ) The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands): 2016 $ 5,214 2017 9,192 2018 6,187 2019 4,760 2020 3,907 Thereafter 7,180 $ 36,440

Debt

Debt	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Debt	5. Debt The following table summarizes the secured indebtedness as of June 30, 2016 and December 31, 2015 (in thousands): Property June 30, December 31, Interest Rate as Maturity Secured Credit Facility (1) $ 17,000 $ 50,000 LIBOR +2.75 % (2) June 2018 Washington Group Plaza (3) 33,335 33,669 3.85 July 2018 AmberGlen Mortgage Loan (4) 24,507 24,729 4.38 May 2019 Midland Life Insurance (5) 90,871 95,000 4.34 May 2021 Lake Vista Pointe (3) 18,460 18,460 4.28 August 2024 FRP Ingenuity Drive (3)(6) 17,000 17,000 4.44 December 2024 Plaza 25 (3)(7) 17,000 17,000 4.10 July 2025 190 Office Center (7) 41,250 41,250 4.79 October 2025 Intellicenter (7) 33,563 33,563 4.65 October 2025 Term Loan — 14,000 LIBOR+6.00 % (2) — Total Principal $ 292,986 $ 344,671 Deferred financing costs, net (3,145 ) (3,393 ) Total $ 289,841 $ 341,278 All interest rates are fixed interest rates with the exception of the secured credit facility (“Secured Credit Facility”) and Term Loan (“Term Loan”) as explained in footnote 1 below. (1) At June 30, 2016 the Secured Credit Facility had $75 million authorized and $17 million drawn. In addition, the Secured Credit Facility has an accordion feature that will permit the Company to borrow up to $150 million, subject to additional collateral availability and lender approval. The Credit Agreement has a maturity date of June 26, 2018, which may be extended to June 26, 2019 at the Company’s option upon meeting certain conditions. The Secured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.60x. At June 30, 2016, the Secured Credit Facility is cross-collateralized by Central Fairwinds, Logan Tower and Superior Pointe. (2) As of June 30, 2016, the one month LIBOR rate was 0.45%. (3) Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. (4) The Company is required to maintain a minimum net worth of $25 million and a minimum liquidity of $2 million. (5) The mortgage loan is cross-collateralized by DTC Crossroads, Cherry Creek and City Center. Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. The loan bears a fixed interest rate of 4.34% and matures on May 6, 2021. Upon the sale of Corporate Parkway on June 15, 2016, $4 million of the loan was paid down and DTC Crossroads was substituted in as collateral property. (6) The Company is required to maintain a minimum net worth of $17 million, minimum liquidity of $1.7 million and a debt service coverage ratio of no less than 1.15x. (7) The Company is required to maintain a debt service coverage ratio of no less than 1.45x, 1.15x and 1.20x respectively for each of Plaza 25, 190 Office Center and Intellicenter. The scheduled principal repayments of debt as of June 30, 2016 are as follows (in thousands): 2016 $ 1,315 2017 2,960 2018 52,082 2019 26,546 2020 3,831 Thereafter 206,252 Total $ 292,986

Fair Value of Financial Instrum

Fair Value of Financial Instruments	6 Months Ended
	Jun. 30, 2016
Fair Value Disclosures [Abstract]
Fair Value of Financial Instruments	6. Fair Value of Financial Instruments Fair value measurements are based on assumptions that market participants would use in pricing an asset or a liability. The hierarchy for inputs used in measuring fair value is as follows: Level 1 Inputs – quoted prices in active markets for identical assets or liabilities Level 2 Inputs – observable inputs other than quoted prices in active markets for identical assets and liabilities Level 3 Inputs – unobservable inputs Earn-Out Liability The fair value of the Central Fairwinds earn-out (note 9) was derived by making assumptions on the timing of the lease up of vacant space and the gross effective rents of those new leases and then applying an 8% discount rate to the resulting cash-flows to obtain a present value. The earn-out valuation assumes that approximately 1,500 square feet of additional leasing is completed between the date of the valuation and the end of the calculation period which would take the earn-out occupancy from 88% at June 30, 2016 to 89% by July 2016 and stabilized at that level thereafter. The net effective rent and incremental operating costs per square foot is assumed to be $14 and $3, respectively. The estimated fair value of the earn-out liability decreased from $5.7 million at December 31, 2015 to $1.9 million at March 31, 2016 due to a $3.8 million payment in March 2016, satisfied through the issuance of common stock and common units. The fair value was unchanged at June 30, 2016. Level 3 sensitivity analysis: The Company applies judgment in determining unobservable inputs used to calculate the fair value of Level 3 instruments. Level 3 instruments held by the Company include the earn-out. The unobservable inputs used in the valuation of the earn-out primarily include the net effective rent assumptions. A sensitivity analysis has been performed to determine the potential gain or loss by varying the significant unobservable inputs by increasing or decreasing them by 10%. The impact of applying these other reasonably possible inputs is a potential loss of $0.1 million and a potential gain of $0.1 million. This potential gain or loss would be recorded through profit and loss. Cash Equivalents, Restricted Cash, Accounts Receivable, Accounts Payable and Accrued Liabilities The Company estimates that the fair value approximates carrying value due to the relatively short-term nature of these instruments. Fair Value of Financial Instruments Not Carried at Fair Value With the exception of fixed rate mortgage loans payable, the carrying amounts of the Company’s financial instruments approximate their fair value. The Company determines the fair value of its fixed rate mortgage loan payable based on a discounted cash flow analysis using a discount rate that approximates the current borrowing rates for instruments of similar maturities. Based on this, the Company has determined that the fair value of these instruments was $288.2 million and $285.9 million as of June 30, 2016 and December 31, 2015, respectively. Although the Company has determined the majority of the inputs used to value its fixed rate debt fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with its fixed rate debt utilize Level 3 inputs, such as estimates of current credit spreads. Accordingly, mortgage loans payable have been classified as Level 3 fair value measurements.

Related Party Transactions

Related Party Transactions	6 Months Ended
	Jun. 30, 2016
Related Party Transactions [Abstract]
Related Party Transactions	7. Related Party Transactions Equity Transactions On February 1, 2016, the Company closed on the previously announced Internalization. The Company had previously entered into a Stock Purchase Agreement with certain stockholders of the Company’s Advisor pursuant to which the Company acquired all of the outstanding stock of the Advisor (see Note 1). Property Management Fees Three of the Company’s properties (City Center, Central Fairwinds and AmberGlen) have engaged related parties to perform asset and property management services for a fee ranging from 3.0% to 3.5% of gross revenue. Management fees paid to the minority partners of these three properties totaled $0.3 million for each of the six months ended June 30, 2016 and 2015, respectively. Advisory Fee During the six month period ended June 30, 2016, the Company incurred $0.1 million in advisory fees payable to the Advisor. Subsequent to the Internalization, such payments were no longer made. Earn-Out Payments During the year ended December 31, 2015, the 70% and 80% earn-out occupancy and net operating income thresholds were met at the Central Fairwinds property. This triggered a payment of approximately $3.2 million to Second City which was made on August 6, 2015 and a second payment of approximately $3.8 million which was made on March 3, 2016. The estimated fair value of the earn-out liability decreased from $5.7 million at December 31, 2015 to $1.9 million at March 31, 2016 due to a $3.8 million payment in March 2016, satisfied through the issuance of common stock and common units. The fair value was unchanged at June 30, 2016.

Future Minimum Rent Schedule

Future Minimum Rent Schedule	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Future Minimum Rent Schedule	8. Future Minimum Rent Schedule Future minimum lease payments to be received as of June 30, 2016 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2016 $ 27,671 2017 53,718 2018 46,370 2019 40,035 2020 36,071 Thereafter 118,793 $ 322,658 The above minimum lease payments to be received do not include reimbursements from tenants for certain operating expenses and real estate taxes and do not include early termination payments provided for in certain leases. Fifteen state government tenants currently have the exercisable right to terminate their leases if the applicable state legislation does not appropriate rent in its annual budget. The Company has determined that the occurrence of any government tenant not being appropriated the rent in the applicable annual budget is a remote contingency and accordingly recognizes lease revenue on a straight-line basis over the respective lease term. These tenants represent approximately 20.4% of the Company’s total future minimum lease payments as of June 30, 2016.

Commitments and Contingencies

Commitments and Contingencies	6 Months Ended
	Jun. 30, 2016
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	9. Commitments and Contingencies Earn-Out As part of the Formation Transactions and contribution agreement with respect to the Central Fairwinds property, the Company is obligated to make additional payments to Second City (each, an “Earn-Out Payment”) for up to a five year period commencing on the initial IPO date of April 21, 2014. Earn-Out Payments are contingent on the property reaching certain specified occupancy levels through new leases to qualified tenants and exceeding a net operating income threshold, which grows annually. Second City is entitled to receive an Earn-Out Payment (net of the associated leasing costs and inclusive of leasing commissions and tenant improvements/allowances and free rent) as and when the occupancy of Central Fairwinds reaches each of 70%, 80% and 90% (each, an “Earn-Out Threshold”) based on the incremental cash flow generated by new leases and a 7.75% stabilized capitalization rate. The Company will make any additional Earn-Out Payment within 30 days of the end of the earn-out term based on new qualified leases entered into since the achievement of the last Earn-Out Threshold. Earn-Out Payments will be subject to a claw-back if a qualified tenant defaults in the payment of rent and is not replaced with another qualified tenant (see note 6). Other The Company is obligated under certain tenant leases to fund tenant improvements and the expansion of the underlying leased properties. Under various federal, state and local laws, ordinances and regulations relating to the protection of the environment, a current or previous owner or operator of real estate may be liable for the cost of removal or remediation of certain hazardous or toxic substances disposed, stored, generated, released, manufactured or discharged from, on, at, under, or in a property. As such, the Company may be potentially liable for costs associated with any potential environmental remediation at any of its formerly or currently owned properties. The Company believes that it is in compliance in all material respects with all federal, state and local ordinances and regulations regarding hazardous or toxic substances. Management is not aware of any environmental liability that it believes would have a material adverse impact on the Company’s financial position or results of operations. Management is unaware of any instances in which the Company would incur significant environmental costs if any or all properties were sold, disposed of or abandoned. However, there can be no assurance that any such non-compliance, liability, claim or expenditure will not arise in the future. The Company is involved from time to time in lawsuits and other disputes which arise in the ordinary course of business. As of June 30, 2016 management believes that these matters will not have a material adverse effect, individually or in the aggregate, on the Company’s financial position or results of operations.

Stockholders' Equity

Stockholders' Equity	6 Months Ended
	Jun. 30, 2016
Equity [Abstract]
Stockholders' Equity	10. Stockholders’ Equity On February 1, 2016, the Company closed on the Internalization. Upon closing of the Internalization, the Company and Buyer Sub acquired all of the outstanding stock of the Advisor. Pursuant to the Stock Purchase Agreement, at closing, the Company issued 297,321 shares of its common stock to the Sellers. In addition, the Company recorded $3.5 million in the first quarter of 2016 in payments to the Sellers upon reaching certain fully diluted market capitalization thresholds. On April 5, 2016, the Company completed a public offering pursuant to which the Company sold 8,050,000 shares of its common stock to the public at a price of $11.40 per share, inclusive of the overallotment option. The Company raised $91.8 million in gross proceeds, resulting in net proceeds to us of approximately $86.7 million after deducting $5.1 million in underwriting discounts and other expenses related to the offering. Non-controlling Interests Non-controlling interests in the Company represent common units not held by the Company. Non-controlling interests consisted of 3,201,085 common units and represented an approximately 13.1% interest in the Operating Partnership as of June 30, 2016. Common units and shares of common stock have essentially the same economic characteristics, as they share equally in the total net income or loss distributions of the Operating Partnership. Beginning on or after the date which is 12 months after the date on which a person first became a holder of common units, each limited partner and assignees of limited partners will have the right, subject to the terms and conditions set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the common units held by such limited partner or assignee in exchange for a cash amount per common unit equal to the value of one share of common stock, determined in accordance with and subject to adjustment under the partnership agreement. The Company has the sole option at its discretion to redeem the tendered common units by issuing common stock on a one-for-one basis. The Operating Partnership unitholders are entitled to share in cash distributions from the Operating Partnership in proportion to its percentage ownership of common units. During the six months ended June 30, 2016, 45,000 common units were converted to common stock. Common Stock and Common Unit Distributions On June 20, 2016, the Company’s board of directors approved and the Company declared a cash dividend distribution of $0.235 per share for the quarterly period ended June 30, 2016. The dividend was paid on July 21, 2016 to stockholders and common unitholders of record as of July 5, 2016 for an aggregate of $5.0 million in dividends to stockholders and $0.7 million to common unitholders, totaling $5.7 million. Restricted Stock Units The Company has an equity incentive plan (“Equity Incentive Plan”) for certain officers, directors, advisors and personnel, and, with approval of the board of directors, for subsidiaries and their respective affiliates. The Equity Incentive Plan provides for grants of restricted common stock, restricted stock units, phantom shares, stock options, dividend equivalent rights and other equity-based awards (including LTIP Units), subject to the total number of shares available for issuance under the plan. The Equity Incentive Plan is administered by the compensation committee of the board of directors (the “plan administrator”). The maximum number of shares of common stock that may be issued under the Equity Incentive Plan is 1,263,580 shares. To the extent an award granted under the Equity Incentive Plan expires or terminates, the shares subject to any portion of the award that expires or terminates without having been exercised or paid, as the case may be, will again become available for the issuance of additional awards. During the six months ended June 30, 2016, 78,250 restricted stock units (“RSUs”) were granted to directors and non-executive employees with a fair value of $1.0 million. The awards will vest in three equal, annual installments on each of the first three anniversaries of the date of grant. For the six months ended June 30, 2016, the Company recognized net compensation expense of $1.2 million related to the RSUs. A RSU award represents the right to receive shares of the Company’s common stock in the future, after the applicable vesting criteria, determined by the plan administrator, has been satisfied. The holder of an award of RSU has no rights as a stockholder until shares of common stock are issued in settlement of vested RSUs. The plan administrator may provide for a grant of dividend equivalent rights in connection with the grant of RSU; provided, however, that if the RSUs do not vest solely upon satisfaction of continued employment or service, any payment in respect to the related dividend equivalent rights will be held by the Company and paid when, and only to the extent that, the related RSU vest.

Subsequent Events

Subsequent Events	6 Months Ended
	Jun. 30, 2016
Subsequent Events [Abstract]
Subsequent Events	11. Subsequent Events On July 12, 2016, the Company, through the Operating Partnership, completed the acquisition of properties located in Orlando, Florida, known as FRP Collection, for $49.8 million. On July 14, 2016, the Company issued a total of 3,126,084 shares of its common stock to certain of the limited partners (“Second City”) of the Operating Partnership. The shares of common stock were issued in connection with Second City’s redemption of a total of 3,126,084 common units pursuant to the terms of the Operating Partnership’s limited partnership agreement, as amended and restated.

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Policies)	6 Months Ended
	Jun. 30, 2016
Accounting Policies [Abstract]
Basis of Preparation and Summary of Significant Accounting Policies	Basis of Preparation and Summary of Significant Accounting Policies The accompanying unaudited condensed consolidated financial statements have been prepared by the Company in accordance with Securities and Exchange Commission rules and regulations and generally accepted accounting principles in the United States of America (“US GAAP”) and in the opinion of management contain all adjustments (including normal recurring adjustments) necessary to present fairly the financial position, results of operations and cash flows for the periods presented. The preparation of financial statements in conformity with US GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. These interim consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2015.
New Accounting Pronouncements	New Accounting Pronouncements In April 2015, the FASB issued ASU 2015-3, Simplifying the Presentation of Debt Issuance Costs, which changes the presentation of debt issuance costs in financial statements. ASU 2015-3 requires an entity to present such costs in the balance sheet as a direct deduction from the related debt liability rather than as an asset. Amortization of the costs will continue to be reported as interest expense. ASU 2015-3 is effective for annual reporting periods beginning after December 15, 2015. Early adoption is permitted. The new guidance must be applied retrospectively to each prior period presented. The Company adopted ASU 2015-3 on January 1, 2016 and retrospectively reclassified $3.4 million of debt issuance costs as of December 31, 2015 from deferred financing costs, net. In September 2015, the FASB issued ASU 2015-16, Simplifying the Accounting for Measurement-Period Adjustments. The update requires that acquiring entities in a business combination recognize adjustments to provisional amounts identified in the reporting period in which the adjustment amounts are determined, including the cumulative effect of the change in provisional amount, as if the accounting had been completed at the acquisition date. Adjustments related to previous reporting periods must be disclosed by income statement line item, either on the face of the income statement or in the notes, in the period for which the adjustment was identified. ASU 2015-16 was adopted January 1, 2016. The impact, if any, of adopting ASU 2015-16 on the Company’s financial statements will depend on the nature of business combinations that occur. In February 2016, the FASB issued ASU 2016-02, Leases. The update amends 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. The 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. ASU 2016-02 will be effective for annual reporting periods beginning after December 15, 2018. Early adoption is permitted. The Company is currently evaluating the impact of adopting the new leases standard on its consolidated financial statements. In March 30, 2016, the FASB issued ASU 2016-09, Compensation - Stock Compensation: Improvements to Employee Share-Based Payment Accounting (ASU 2016-09) ,

Real Estate Investments (Tables

Real Estate Investments (Tables)	6 Months Ended
	Jun. 30, 2016
Schedule of Acquired Properties through Operating Partnership	During the six months ended June 30, 2016 and 2015, the Company, through the Operating Partnership, acquired the following properties: Property Date Acquired Percentage Owned Carillon Point June 2016 100 % DTC Crossroads June 2015 100 % Superior Pointe June 2015 100 % Logan Tower February 2015 100 %
Schedule of Allocations of Purchase Price of Assets Acquired and Liabilities Assumed	The following table summarizes the Company’s allocations of the purchase price of assets acquired and liabilities assumed during the six months ended June 30, 2015 (in thousands): Logan Tower Superior Pointe DTC Crossroads Total June 30, 2015 Land $ 1,306 $ 3,153 $ 7,137 $ 11,596 Buildings and improvements 7,844 19,250 22,545 49,639 Tenant improvements 353 584 638 1,575 Acquired intangible assets 1,274 2,866 4,152 8,292 Prepaid expenses and other assets — 24 — 24 Accounts payable and other liabilities (48 ) (316 ) (605 ) (969 ) Lease intangible liabilities (306 ) (53 ) (353 ) (712 ) Total Consideration $ 10,423 $ 25,508 $ 33,514 $ 69,445
Carillon Point [Member]
Schedule of Allocations of Purchase Price of Assets Acquired and Liabilities Assumed	The following table summarizes the Company’s preliminary allocation of the purchase price of assets acquired and liabilities assumed (in thousands): Carillon Point Land $ 5,030 Buildings and improvements 14,100 Tenant improvements 2,739 Acquired intangible assets 4,140 Prepaid expenses and other assets 73 Accounts payable and other liabilities (217 ) Lease intangible liabilities (23 ) Total consideration $ 25,842
Logan Tower, Superior Pointe, DTC Crossroads and Carillon Point [Member]
Schedule of Business Acquisition Pro Forma Results of Operations	The following table presents the unaudited revenues and income from continuing operations for Logan Tower, Superior Pointe, DTC Crossroads and Carillon Point on a pro forma basis as if the Company had completed the acquisition of the property as of January 1, 2015 (in thousands): Six Months Ended Six Months Ended Total revenues as reported by City Office REIT, Inc. $ 32,370 $ 22,894 Plus: Logan Tower — 143 Plus: Superior Pointe — 1,666 Plus: DTC Crossroads — 1,904 Plus: Carillon Point 1,095 1,106 Pro forma total revenues $ 33,465 $ 27,713 Total operating (loss)/income as reported by City Office REIT, Inc. $ (3,127 ) $ 2,183 Property acquisition costs 87 (87 ) Plus: Logan Tower — (13 ) Plus: Superior Pointe — (86 ) Plus: DTC Crossroads — (59 ) Plus: Carillon Point (309 ) (302 ) Pro forma operating (loss)/income $ (3,349 ) $ 1,636

Lease Intangibles (Tables)

Lease Intangibles (Tables)	6 Months Ended
	Jun. 30, 2016
Goodwill and Intangible Assets Disclosure [Abstract]
Schedule of Lease Intangibles and Value of Assumed Lease Obligations	Lease intangibles and the value of assumed lease obligations as of June 30, 2016 and December 31, 2015 were comprised as follows (in thousands): June 30, 2016 Above In Place Leasing Total Below Below Total Cost $ 6,116 $ 42,636 $ 18,863 $ 67,615 $ (2,951 ) $ (138 ) $ (3,089 ) Accumulated amortization (3,251 ) (19,092 ) (6,815 ) (29,158 ) 1,045 27 1,072 $ 2,865 $ 23,544 $ 12,048 $ 38,457 $ (1,906 ) $ (111 ) $ (2,017 ) December 31, 2015 Above In Place Leasing Total Below Below Total Cost $ 5,616 $ 44,478 $ 17,530 $ 67,624 $ (2,928 ) $ (138 ) $ (3,066 ) Accumulated amortization (2,830 ) (17,641 ) (6,163 ) (26,634 ) 750 24 774 $ 2,786 $ 26,837 $ 11,367 $ 40,990 $ (2,178 ) $ (114 ) $ (2,292 )
Estimated Aggregate Amortization Expense for Lease Intangibles	The estimated aggregate amortization expense for lease intangibles for the five succeeding years and in the aggregate are as follows (in thousands): 2016 $ 5,214 2017 9,192 2018 6,187 2019 4,760 2020 3,907 Thereafter 7,180 $ 36,440

Debt (Tables)

Debt (Tables)	6 Months Ended
	Jun. 30, 2016
Debt Disclosure [Abstract]
Summary of Secured Indebtedness	The following table summarizes the secured indebtedness as of June 30, 2016 and December 31, 2015 (in thousands): Property June 30, December 31, Interest Rate as Maturity Secured Credit Facility (1) $ 17,000 $ 50,000 LIBOR +2.75 % (2) June 2018 Washington Group Plaza (3) 33,335 33,669 3.85 July 2018 AmberGlen Mortgage Loan (4) 24,507 24,729 4.38 May 2019 Midland Life Insurance (5) 90,871 95,000 4.34 May 2021 Lake Vista Pointe (3) 18,460 18,460 4.28 August 2024 FRP Ingenuity Drive (3)(6) 17,000 17,000 4.44 December 2024 Plaza 25 (3)(7) 17,000 17,000 4.10 July 2025 190 Office Center (7) 41,250 41,250 4.79 October 2025 Intellicenter (7) 33,563 33,563 4.65 October 2025 Term Loan — 14,000 LIBOR+6.00 % (2) — Total Principal $ 292,986 $ 344,671 Deferred financing costs, net (3,145 ) (3,393 ) Total $ 289,841 $ 341,278 All interest rates are fixed interest rates with the exception of the secured credit facility (“Secured Credit Facility”) and Term Loan (“Term Loan”) as explained in footnote 1 below. (1) At June 30, 2016 the Secured Credit Facility had $75 million authorized and $17 million drawn. In addition, the Secured Credit Facility has an accordion feature that will permit the Company to borrow up to $150 million, subject to additional collateral availability and lender approval. The Credit Agreement has a maturity date of June 26, 2018, which may be extended to June 26, 2019 at the Company’s option upon meeting certain conditions. The Secured Credit Facility requires the Company to maintain a fixed charge coverage ratio of no less than 1.60x. At June 30, 2016, the Secured Credit Facility is cross-collateralized by Central Fairwinds, Logan Tower and Superior Pointe. (2) As of June 30, 2016, the one month LIBOR rate was 0.45%. (3) Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. (4) The Company is required to maintain a minimum net worth of $25 million and a minimum liquidity of $2 million. (5) The mortgage loan is cross-collateralized by DTC Crossroads, Cherry Creek and City Center. Interest on mortgage loan is payable monthly plus principal based on 360 months of amortization. The loan bears a fixed interest rate of 4.34% and matures on May 6, 2021. Upon the sale of Corporate Parkway on June 15, 2016, $4 million of the loan was paid down and DTC Crossroads was substituted in as collateral property. (6) The Company is required to maintain a minimum net worth of $17 million, minimum liquidity of $1.7 million and a debt service coverage ratio of no less than 1.15x. (7) The Company is required to maintain a debt service coverage ratio of no less than 1.45x, 1.15x and 1.20x respectively for each of Plaza 25, 190 Office Center and Intellicenter.
Schedule of Principal Repayments of Debt	The scheduled principal repayments of debt as of June 30, 2016 are as follows (in thousands): 2016 $ 1,315 2017 2,960 2018 52,082 2019 26,546 2020 3,831 Thereafter 206,252 Total $ 292,986

Future Minimum Rent Schedule (T

Future Minimum Rent Schedule (Tables)	6 Months Ended
	Jun. 30, 2016
Leases [Abstract]
Schedule of Future Minimum Lease Payments under Noncancellable Operating Leases	Future minimum lease payments to be received as of June 30, 2016 under noncancellable operating leases for the next five years and thereafter are as follows (in thousands): 2016 $ 27,671 2017 53,718 2018 46,370 2019 40,035 2020 36,071 Thereafter 118,793 $ 322,658

Organization and Description 23

Organization and Description of Business - Additional Information (Detail) - USD ($) $ in Thousands	Feb. 01, 2016	Mar. 31, 2016	Jun. 30, 2016
Business Description And Basis Of Presentation [Line Items]
Company formation date			Nov. 26, 2013
Operation commencement date			Apr. 21, 2014
Total cost of business acquisition			$ 7,045
External Advisor, City Office Real Estate Management, Inc [Member] | Thresholds Payment Condition 1 [Member]
Business Description And Basis Of Presentation [Line Items]
Additional cash payment for business acquisition	$ 1,000
Diluted market capitalization	200,000
External Advisor, City Office Real Estate Management, Inc [Member] | Thresholds Payment Condition 2 [Member]
Business Description And Basis Of Presentation [Line Items]
Additional cash payment for business acquisition	1,000
Diluted market capitalization	225,000
External Advisor, City Office Real Estate Management, Inc [Member] | Thresholds Payment Condition 3 [Member]
Business Description And Basis Of Presentation [Line Items]
Additional cash payment for business acquisition	1,500
Diluted market capitalization	$ 250,000
External Advisor, City Office Real Estate Management, Inc [Member] | Stock Purchase Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Common stock acquired, shares issued	297,321
Common stock, fair market value	$ 3,500
Additional cash payment for business acquisition	3,500	$ 3,500
Second City Funds [Member] | Administrative Services Agreement [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services	$ 3,275
Administrative service agreement, term	3 years
Second City Funds [Member] | Administrative Services Agreement [Member] | First 12 months [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services	$ 1,500
Second City Funds [Member] | Administrative Services Agreement [Member] | Second 12 months [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services	1,150
Second City Funds [Member] | Administrative Services Agreement [Member] | Third 12 months [Member]
Business Description And Basis Of Presentation [Line Items]
Annual payment receivable for services	$ 625

Summary of Significant Accoun24

Summary of Significant Accounting Policies - Additional Information (Detail) $ in Millions	Dec. 31, 2015USD ($)
ASU 2015-3 [Member]
Summary of Significant Accounting Policies [Line Items]
Retrospective reclassification of debt issuance costs from deferred financing costs, net	$ 3.4

Real Estate Investments - Sched

Real Estate Investments - Schedule of Acquired Properties through Operating Partnership (Detail)	6 Months Ended
	Jun. 30, 2016	Jun. 29, 2016
Carillon Point [Member]
Business Acquisition [Line Items]
Real estate property, date acquired	2016-06
Real estate property, percentage owned	100.00%	100.00%
DTC Crossroads [Member]
Business Acquisition [Line Items]
Real estate property, date acquired	2015-06
Real estate property, percentage owned	100.00%
Superior Pointe [Member]
Business Acquisition [Line Items]
Real estate property, date acquired	2015-06
Real estate property, percentage owned	100.00%
Logan Tower [Member]
Business Acquisition [Line Items]
Real estate property, date acquired	2015-02
Real estate property, percentage owned	100.00%

Real Estate Investments - Sch26

Real Estate Investments - Schedule of Allocations of Purchase Price of Assets Acquired and Liabilities Assumed (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Land		$ 11,596
Buildings and improvements		49,639
Tenant improvements		1,575
Acquired intangible assets		8,292
Prepaid expenses and other assets		24
Accounts payable and other liabilities		(969)
Lease intangible liabilities		(712)
Total Consideration		69,445
Logan Tower [Member]
Business Acquisition [Line Items]
Land		1,306
Buildings and improvements		7,844
Tenant improvements		353
Acquired intangible assets		1,274
Accounts payable and other liabilities		(48)
Lease intangible liabilities		(306)
Total Consideration		10,423
Superior Pointe [Member]
Business Acquisition [Line Items]
Land		3,153
Buildings and improvements		19,250
Tenant improvements		584
Acquired intangible assets		2,866
Prepaid expenses and other assets		24
Accounts payable and other liabilities		(316)
Lease intangible liabilities		(53)
Total Consideration		25,508
DTC Crossroads [Member]
Business Acquisition [Line Items]
Land		7,137
Buildings and improvements		22,545
Tenant improvements		638
Acquired intangible assets		4,152
Accounts payable and other liabilities		(605)
Lease intangible liabilities		(353)
Total Consideration		$ 33,514
Carillon Point [Member]
Business Acquisition [Line Items]
Land	$ 5,030
Buildings and improvements	14,100
Tenant improvements	2,739
Acquired intangible assets	4,140
Prepaid expenses and other assets	73
Accounts payable and other liabilities	(217)
Lease intangible liabilities	(23)
Total Consideration	$ 25,842

Real Estate Investments - Addit

Real Estate Investments - Additional Information (Detail) - USD ($) $ in Thousands	Jun. 29, 2016	Jun. 15, 2016	Jun. 30, 2016	Jun. 30, 2016
Business Acquisition [Line Items]
Net gain on sale of real estate property			$ 15,934	$ 15,934
Corporate Parkway [Member]
Business Acquisition [Line Items]
Proceeds of sale of property		$ 44,900
Net gain on sale of real estate property		15,900
Cost incurred on property sold		$ 2,000
Carillon Point [Member]
Business Acquisition [Line Items]
Percent of ownership interest acquired in properties	100.00%		100.00%	100.00%
Purchase consideration, cash paid	$ 25,800

Real Estate Investments - Sch28

Real Estate Investments - Schedule of Business Acquisition Pro Forma Results of Operations (Detail) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015	Jun. 30, 2016	Jun. 30, 2015
Business Acquisition [Line Items]
Total revenues as reported by City Office REIT, Inc.	$ 16,092	$ 11,634	$ 32,370	$ 22,894
Pro forma total revenues			33,465	27,713
Total operating (loss)/income as reported by City Office REIT, Inc.	$ 1,705	$ 802	(3,127)	2,183
Property acquisition costs			87	(87)
Pro forma operating (loss)/income			(3,349)	1,636
Logan Tower [Member]
Business Acquisition [Line Items]
Pro forma total revenues				143
Pro forma operating (loss)/income				(13)
Superior Pointe [Member]
Business Acquisition [Line Items]
Pro forma total revenues				1,666
Pro forma operating (loss)/income				(86)
DTC Crossroads [Member]
Business Acquisition [Line Items]
Pro forma total revenues				1,904
Pro forma operating (loss)/income				(59)
Carillon Point [Member]
Business Acquisition [Line Items]
Pro forma total revenues			1,095	1,106
Pro forma operating (loss)/income			$ (309)	$ (302)

Lease Intangibles - Schedule of

Lease Intangibles - Schedule of Lease Intangibles and Value of Assumed Lease Obligations (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Dec. 31, 2015
Finite-Lived Intangible Assets [Line Items]
Cost	$ 67,615	$ 67,624
Cost, Below Market Leases	(2,951)	(2,928)
Cost, Below Market Ground Lease	(138)	(138)
Cost	(3,089)	(3,066)
Accumulated amortization	(29,158)	(26,634)
Accumulated amortization, Below Market Leases	1,045	750
Accumulated amortization, Below Market Ground lease	27	24
Accumulated amortization	1,072	774
Total	38,457	40,990
Total, Below Market Leases	(1,906)	(2,178)
Total, Below Market Ground lease	(111)	(114)
Total	(2,017)	(2,292)
Above Market Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	6,116	5,616
Accumulated amortization	(3,251)	(2,830)
Total	2,865	2,786
In Place Leases [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	42,636	44,478
Accumulated amortization	(19,092)	(17,641)
Total	23,544	26,837
Leasing Commissions [Member]
Finite-Lived Intangible Assets [Line Items]
Cost	18,863	17,530
Accumulated amortization	(6,815)	(6,163)
Total	$ 12,048	$ 11,367

Lease Intangibles - Estimated A

Lease Intangibles - Estimated Aggregate Amortization Expense for Lease Intangibles (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2,016	$ 5,214
2,017	9,192
2,018	6,187
2,019	4,760
2,020	3,907
Thereafter	7,180
Total	$ 36,440

Debt - Summary of Secured Indeb

Debt - Summary of Secured Indebtedness (Detail) - USD ($) $ in Thousands	Jun. 30, 2016	Jun. 30, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Secured indebtedness	$ 292,986	$ 292,986	$ 344,671
Deferred financing costs, net	(3,145)	(3,145)	(3,393)
Total	289,841	289,841	341,278
Secured Credit Facility [Member]
Debt Instrument [Line Items]
Secured indebtedness	17,000	$ 17,000	50,000
Maturity		2018-06
Washington Group Plaza [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 33,335	$ 33,335	33,669
Interest Rate	3.85%	3.85%
Maturity		2018-07
AmberGlen Mortgage Loan [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 24,507	$ 24,507	24,729
Interest Rate	4.38%	4.38%
Maturity		2019-05
Midland Life Insurance [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 90,871	$ 90,871	95,000
Interest Rate	4.34%	4.34%
Maturity		2021-05
Lake Vista Pointe [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 18,460	$ 18,460	18,460
Interest Rate	4.28%	4.28%
Maturity		2024-08
FRP Ingenuity Drive [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 17,000	$ 17,000	17,000
Interest Rate	4.44%	4.44%
Maturity		2024-12
Plaza 25 [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 17,000	$ 17,000	17,000
Interest Rate	4.10%	4.10%
Maturity		2025-07
190 Office Center [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 41,250	$ 41,250	41,250
Interest Rate	4.79%	4.79%
Maturity		2025-10
Intellicenter [Member]
Debt Instrument [Line Items]
Secured indebtedness	$ 33,563	$ 33,563	33,563
Interest Rate	4.65%	4.65%
Maturity		2025-10
Term Loan [Member]
Debt Instrument [Line Items]
Secured indebtedness			$ 14,000
London Interbank Offered Rate (LIBOR) [Member] | Secured Credit Facility [Member]
Debt Instrument [Line Items]
Interest Rate, Description	2.75%
London Interbank Offered Rate (LIBOR) [Member] | Term Loan [Member]
Debt Instrument [Line Items]
Interest Rate, Description	6.00%

Debt - Summary of Secured Ind32

Debt - Summary of Secured Indebtedness (Parenthetical) (Detail) - USD ($)	6 Months Ended
	Jun. 30, 2016	Jun. 30, 2015
Debt Instrument [Line Items]
Repayment of mortgage loans payable	$ 51,685,000	$ 537,000
Washington Group Plaza [Member]
Debt Instrument [Line Items]
Amortization period	360 months
Effective interest rate of loan	3.85%
AmberGlen Mortgage Loan [Member]
Debt Instrument [Line Items]
Minimum net worth required	$ 25,000,000
Minimum liquidity requirements	$ 2,000,000
Effective interest rate of loan	4.38%
Midland Life Insurance [Member]
Debt Instrument [Line Items]
Loan maturity date	May 6, 2021
Amortization period	360 months
Effective interest rate of loan	4.34%
Repayment of mortgage loans payable	$ 4,000,000
Lake Vista Pointe [Member]
Debt Instrument [Line Items]
Amortization period	360 months
Effective interest rate of loan	4.28%
FRP Ingenuity Drive [Member]
Debt Instrument [Line Items]
Amortization period	360 months
Minimum net worth required	$ 17,000,000
Minimum liquidity requirements	$ 1,700,000
Effective interest rate of loan	4.44%
Plaza 25 [Member]
Debt Instrument [Line Items]
Amortization period	360 months
Effective interest rate of loan	4.10%
190 Office Center [Member]
Debt Instrument [Line Items]
Effective interest rate of loan	4.79%
Intellicenter [Member]
Debt Instrument [Line Items]
Effective interest rate of loan	4.65%
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
One month LIBOR rate	0.45%
Minimum [Member] | FRP Ingenuity Drive [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	115.00%
Minimum [Member] | Plaza 25 [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	145.00%
Minimum [Member] | 190 Office Center [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	115.00%
Minimum [Member] | Intellicenter [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	120.00%
Secured Credit Facility [Member]
Debt Instrument [Line Items]
Secured Credit Facility, authorized amount	$ 75,000,000
Secured Credit Facility, outstanding amount	$ 17,000,000
Loan maturity date	Jun. 26, 2018
Loan expected extended maturity date	Jun. 26, 2019
Secured Credit Facility, accordion feature	$ 150,000,000
Secured Credit Facility [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
One month LIBOR rate	0.45%
Secured Credit Facility [Member] | Minimum [Member]
Debt Instrument [Line Items]
Fixed charge coverage ratio	160.00%

Debt - Schedule of Principal Re

Debt - Schedule of Principal Repayments of Debt (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Debt Disclosure [Abstract]
2,016	$ 1,315
2,017	2,960
2,018	52,082
2,019	26,546
2,020	3,831
Thereafter	206,252
Total	$ 292,986

Fair Value of Financial Instr34

Fair Value of Financial Instruments - Additional Information (Detail)	1 Months Ended		6 Months Ended
	Jul. 31, 2016	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)ft²$ / ft²	Dec. 31, 2015USD ($)
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Fair value, discount rate			8.00%
Approximate square feet of additional lease space | ft²			1,500
Percentage of lease space occupancy			88.00%
Net effective rent per square foot | $ / ft²			14
Incremental operating costs per square foot | $ / ft²			3
Estimated fair value of earn-out liability		$ 1,900,000	$ 1,900,000	$ 5,678,000
Earn-out payment		$ 3,800,000	3,778,000
Change in fair value of earn-out			$ 0
Percentage of increase or decrease in potential gain or loss by varying the significant unobservable inputs			10.00%
Mortgage loans payable, fair value			$ 288,200,000	$ 285,900,000
Minimum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Potential gain (loss) by varying significant unobservable inputs			(100,000)
Maximum [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Potential gain (loss) by varying significant unobservable inputs			$ 100,000
Scenario, Forecast [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Percentage of lease space occupancy	89.00%

Related Party Transactions - Ad

Related Party Transactions - Additional Information (Detail) $ in Thousands	Mar. 03, 2016USD ($)	Aug. 06, 2015USD ($)	Mar. 31, 2016USD ($)	Mar. 31, 2016USD ($)	Jun. 30, 2016USD ($)Property	Jun. 30, 2015USD ($)	Dec. 31, 2015USD ($)
Related Party Transaction [Line Items]
Earn-out payment			$ 3,800		$ 3,778
Estimated fair value of earn-out liability			$ 1,900	$ 1,900	1,900		$ 5,678
Change in fair value of earn-out					$ 0
Central Fairwinds [Member]
Related Party Transaction [Line Items]
Earn-out payment	$ 3,800
Central Fairwinds [Member] | Range 1 [Member]
Related Party Transaction [Line Items]
Percentage of Earn-Out Threshold					70.00%		70.00%
Central Fairwinds [Member] | Range 2 [Member]
Related Party Transaction [Line Items]
Percentage of Earn-Out Threshold					80.00%		80.00%
External Advisor, City Office Real Estate Management, Inc [Member]
Related Party Transaction [Line Items]
Advisory fees payable					$ 100
External Advisor, City Office Real Estate Management, Inc [Member] | Stock Purchase Agreement [Member]
Related Party Transaction [Line Items]
Business acquisition effective date				Feb. 1, 2016	Feb. 1, 2016
Property Management Firm [Member]
Related Party Transaction [Line Items]
Property management fee, Description					Fee ranging from 3.0% to 3.5% of gross revenue
Number of real estate properties | Property					3
Management fees paid					$ 300	$ 300
Property Management Firm [Member] | Minimum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage					3.00%
Property Management Firm [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Property management fee, percentage					3.50%
Second City Funds [Member] | Central Fairwinds [Member]
Related Party Transaction [Line Items]
Earn-out payment		$ 3,200

Future Minimum Rent Schedule -

Future Minimum Rent Schedule - Schedule of Future Minimum Lease Payments under Noncancellable Operating Leases (Detail) $ in Thousands	Jun. 30, 2016USD ($)
Leases [Abstract]
2,016	$ 27,671
2,017	53,718
2,018	46,370
2,019	40,035
2,020	36,071
Thereafter	118,793
Total future minimum lease payments to be received	$ 322,658

Future Minimum Rent Schedule 37

Future Minimum Rent Schedule - Additional Information (Detail)	Jun. 30, 2016
Sales Revenue, Services, Net [Member] | Government Contracts Concentration Risk [Member]
Schedule Of Operating Leases Future Minimum Payments Receivable [Line Items]
Percentage of total future minimum lease payments	20.40%

Commitments and Contingencies -

Commitments and Contingencies - Additional Information (Detail) - Central Fairwinds [Member]	6 Months Ended	12 Months Ended
	Jun. 30, 2016	Dec. 31, 2015
Other Commitments [Line Items]
Stabilized capitalization rate	7.75%
Earn-Out Payment, Description	The Company will make any additional Earn-Out Payment within 30 days of the end of the earn-out term based on new qualified leases entered into since the achievement of the last Earn-Out Threshold.
Range 1 [Member]
Other Commitments [Line Items]
Percentage of Earn-Out Threshold	70.00%	70.00%
Range 2 [Member]
Other Commitments [Line Items]
Percentage of Earn-Out Threshold	80.00%	80.00%
Range 3 [Member]
Other Commitments [Line Items]
Percentage of Earn-Out Threshold	90.00%
Maximum [Member]
Other Commitments [Line Items]
Earn-Out payment period	5 years

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) $ / shares in Units, $ in Thousands

Jul. 21, 2016USD ($)

Jul. 14, 2016shares

Jun. 30, 2016$ / sharesshares

Jun. 20, 2016$ / shares

Apr. 05, 2016USD ($)$ / sharesshares

Feb. 01, 2016USD ($)shares

Jun. 30, 2016$ / sharesshares

Mar. 31, 2016USD ($)

Jun. 30, 2015$ / shares

Jun. 30, 2016USD ($)Installment$ / sharesshares

Jun. 30, 2015$ / shares

Dec. 31, 2015$ / sharesshares

Class of Stock [Line Items]

Common stock, shares issued | shares

21,209,472

21,209,472

21,209,472

12,517,777

Common stock price per share | $ / shares

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Operating Partnership common units | shares

3,201,085

Percentage of interest in Operating Partnership

13.10%

13.10%

13.10%

Partnership unit, description

Beginning on or after the date which is 12 months after the date on which a person first became a holder of common units, each limited partner and assignees of limited partners will have the right, subject to the terms and conditions set forth in the partnership agreement, to require the Operating Partnership to redeem all or a portion of the common units held by such limited partner or assignee in exchange for a cash amount per common unit equal to the value of one share of common stock, determined in accordance with and subject to adjustment under the partnership agreement. The Company has the sole option at its discretion to redeem the tendered common units by issuing common stock on a one-for-one basis.

Common units converted to common stock | shares

45,000

Declared cash dividend distribution per share | $ / shares

$ 0.235

$ 0.235

$ 0.235

$ 0.235

$ 0.235

Dividends paid, declared date

Jun. 20, 2016

Dividends paid date

Jul. 21, 2016

Dividends paid, date of record

Jul. 5, 2016

Dividends

$ 11,439

Maximum number of shares issued under Equity Incentive Plan | shares

1,263,580

Secondary Public Offering [Member]

Class of Stock [Line Items]

Common stock, shares issued | shares

8,050,000

Common stock price per share | $ / shares

$ 11.40

Gross proceeds from issuance of public offering

$ 91,800

Net proceeds from issuance of public offering

86,700

Underwriting discounts and other expenses

$ 5,100

Subsequent Event [Member]

Class of Stock [Line Items]

Common stock acquired, shares issued | shares

3,126,084

Dividends

$ 5,700

Restricted Stock Units (RSUs) [Member]

Class of Stock [Line Items]

Net compensation expense

$ 1,200

Number of annual installments for award vesting | Installment

3

Restricted Stock Units (RSUs) [Member] | Directors and Non-Executive Employees [Member]

Class of Stock [Line Items]

Restricted stock units granted to executive officers, directors and non-executive employees of the Advisor | shares

78,250

Restricted stock units grant date fair value

$ 1,000

External Advisor, City Office Real Estate Management, Inc [Member] | Stock Purchase Agreement [Member]

Class of Stock [Line Items]

Business acquisition effective date

Feb. 1, 2016

Feb. 1, 2016

Common stock acquired, shares issued | shares

297,321

Additional cash payment for business acquisition

$ 3,500

$ 3,500

Common Stock [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Dividends

5,000

Common Units [Member] | Subsequent Event [Member]

Class of Stock [Line Items]

Dividends

$ 700

Subsequent Events - Additional

Subsequent Events - Additional Information (Detail) - Subsequent Event [Member] - USD ($) $ in Millions	Jul. 14, 2016	Jul. 12, 2016
Subsequent Event [Line Items]
Redemption of common units	3,126,084
Number of shares issued to limited partners for acquisition	3,126,084
Orlando Florida [Member]
Subsequent Event [Line Items]
Acquisition of property		$ 49.8