KBS Growth & Income REIT (KBSG) 10-Q 12 Nov 20 2020 Q3 Quarterly report Financial data

Cover Page

Cover Page - shares	9 Months Ended
	Sep. 30, 2020	Nov. 09, 2020
Entity Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2020
Document Transition Report	false
Entity File Number	000-56050
Entity Registrant Name	KBS GROWTH & INCOME REIT, INC.
Entity Incorporation, State or Country Code	MD
Entity Tax Identification Number	47-2778257
Entity Address, Address Line One	800 Newport Center Drive, Suite 700
Entity Address, City or Town	Newport Beach,
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	92660
City Area Code	949
Local Phone Number	417-6500
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	true
Entity Shell Company	false
Entity Central Index Key	0001631256
Current Fiscal Year End Date	--12-31
Document Fiscal Year Focus	2020
Document Fiscal Period Focus	Q3
Amendment Flag	false
Entity Ex Transition Period	true
Class A Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,873,729
Class T Common Stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		310,974

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Real estate:
Land	$ 19,545	$ 20,709
Buildings and improvements	132,045	138,600
Tenant origination and absorption costs	11,222	13,822
Total real estate, cost	162,812	173,131
Less accumulated depreciation and amortization	(23,109)	(22,688)
Total real estate held for investment, net	139,703	150,443
Real estate held for sale, net	0	18,594
Total real estate, net	139,703	169,037
Cash and cash equivalents	2,256	6,287
Investment in unconsolidated joint venture	464	1,000
Rents and other receivables	3,034	3,284
Above-market leases, net	98	120
Assets related to real estate held for sale	0	760
Prepaid expenses and other assets	1,749	1,753
Total assets	147,304	182,241
Notes payable:
Notes payable, net	91,483	103,913
Notes payable related to real estate held for sale, net	0	13,948
Total notes payable, net	91,483	117,861
Accounts payable and accrued liabilities	1,802	2,728
Due to affiliates	6,830	5,552
Distributions payable	0	467
Below-market leases, net	1,742	2,533
Liabilities related to real estate held for sale	0	1,057
Other liabilities	4,571	3,765
Total liabilities	106,428	133,963
Commitments and contingencies (Note 12)
Redeemable common stock	193	1,000
Stockholders’ equity:
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	85,305	84,184
Cumulative distributions and net losses	(44,724)	(37,007)
Total stockholders’ equity	40,683	47,278
Total liabilities and stockholders’ equity	147,304	182,241
Class A Common Stock
Stockholders’ equity:
Common stock	99	98
Class T Common Stock
Stockholders’ equity:
Common stock	$ 3	$ 3

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2020	Dec. 31, 2019
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, shares authorized (in shares)	10,000,000	10,000,000
Preferred stock, shares issued (in shares)	0	0
Preferred stock, shares outstanding (in shares)	0	0
Class A Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	9,873,729	9,841,004
Common stock, shares outstanding (in shares)	9,873,729	9,841,004
Class T Common Stock
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized (in shares)	500,000,000	500,000,000
Common stock, shares issued (in shares)	310,974	306,292
Common stock, shares outstanding (in shares)	310,974	306,292

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Revenues:
Rental income	$ 4,005	$ 5,294	$ 13,212	$ 15,289
Other operating income	53	68	131	225
Total revenues	4,058	5,362	13,343	15,514
Expenses:
Operating, maintenance, and management	912	1,121	2,774	3,411
Property management fees and expenses to affiliate	32	40	102	122
Real estate taxes and insurance	590	715	2,029	2,234
Asset management fees to affiliate	432	483	1,293	1,412
General and administrative expenses	652	491	1,785	1,296
Depreciation and amortization	1,933	2,153	6,089	6,522
Interest expense	607	1,596	4,344	6,054
Impairment charges on real estate	0	0	5,750	0
Total expenses	5,158	6,599	24,166	21,051
Other (loss) income:
Interest and other income	1	17	14	50
Gain on sale of real estate, net	0	0	5,245	0
Equity in (loss) income of unconsolidated joint venture	(402)	13	(837)	13
Loss from extinguishment of debt	0	0	(29)	0
Total other (loss) income	(401)	30	4,393	63
Net loss	$ (1,501)	$ (1,207)	$ (6,430)	$ (5,474)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.15)	$ (0.12)	$ (0.63)	$ (0.55)
Weighted-average number of common shares outstanding, basic and diluted (in shares)	10,185,344	10,058,508	10,179,760	9,927,695

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A Common Stock	Class T Common Stock	Common StockClass A Common Stock	Common StockClass T Common Stock	Additional Paid-in Capital	Cumulative Distributions and Net Losses
Balance (in shares) at Dec. 31, 2018				9,386,908	294,963
Balance at Dec. 31, 2018	$ 54,591			$ 94	$ 3	$ 79,907	$ (25,413)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(5,474)						(5,474)
Issuance of common stock (in shares)				402,014	10,105
Issuance of common stock	3,791			$ 4		3,787
Transfers from redeemable common stock	21					21
Redemptions of common stock (in shares)					(2,245)
Redemptions of common stock	(21)					(21)
Distributions declared	(4,094)						(4,094)
Balance (in shares) at Sep. 30, 2019				9,788,922	302,823
Balance at Sep. 30, 2019	48,814			$ 98	$ 3	83,694	(34,981)
Balance (in shares) at Jun. 30, 2019				9,718,110	299,406
Balance at Jun. 30, 2019	50,726			$ 97	$ 3	83,012	(32,386)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,207)						(1,207)
Issuance of common stock (in shares)				70,812	3,417
Issuance of common stock	683			$ 1		682
Distributions declared	(1,388)						(1,388)
Balance (in shares) at Sep. 30, 2019				9,788,922	302,823
Balance at Sep. 30, 2019	48,814			$ 98	$ 3	83,694	(34,981)
Balance (in shares) at Dec. 31, 2019		9,841,004	306,292	9,841,004	306,292
Balance at Dec. 31, 2019	47,278			$ 98	$ 3	84,184	(37,007)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(6,430)						(6,430)
Issuance of common stock (in shares)				57,292	4,682
Issuance of common stock	522			$ 1		521
Transfers from redeemable common stock	807					807
Redemptions of common stock (in shares)				(24,567)
Redemptions of common stock	(207)					(207)
Distributions declared	(1,287)						(1,287)
Balance (in shares) at Sep. 30, 2020		9,873,729	310,974	9,873,729	310,974
Balance at Sep. 30, 2020	40,683			$ 99	$ 3	85,305	(44,724)
Balance (in shares) at Jun. 30, 2020				9,867,625	310,418
Balance at Jun. 30, 2020	41,521			$ 99	$ 3	84,642	(43,223)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(1,501)						(1,501)
Issuance of common stock (in shares)				6,935	556
Issuance of common stock	63					63
Transfers from redeemable common stock	607					607
Redemptions of common stock (in shares)				(831)
Redemptions of common stock	(7)					(7)
Balance (in shares) at Sep. 30, 2020		9,873,729	310,974	9,873,729	310,974
Balance at Sep. 30, 2020	$ 40,683			$ 99	$ 3	$ 85,305	$ (44,724)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Cash Flows from Operating Activities:
Net loss	$ (1,501)	$ (1,207)	$ (6,430)	$ (5,474)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	1,933	2,153	6,089	6,522
Impairment charges on real estate	0	0	5,750	0
Equity in loss (income) of unconsolidated joint venture	402	(13)	837	(13)
Deferred rents			230	(447)
Amortization of above and below-market leases, net			(769)	(959)
Amortization of deferred financing costs	100	100	243	267
Unrealized loss on derivative instrument			1,161	1,949
Loss from extinguishment of debt	0	0	29	0
Gain on sale of real estate, net	0	0	(5,245)	0
Changes in operating assets and liabilities:
Rents and other receivables			(57)	(129)
Prepaid expenses and other assets			(294)	(508)
Accounts payable and accrued liabilities			(512)	(296)
Due to affiliates			1,278	1,417
Other liabilities			(596)	(224)
Net cash provided by operating activities			1,714	2,105
Cash Flows from Investing Activities:
Proceeds from sale of real estate			23,603	0
Improvements to real estate			(1,262)	(3,303)
Investment in an unconsolidated joint venture			0	(935)
Reimbursement from unconsolidated joint venture			3	0
Net cash provided by (used in) investing activities			22,344	(4,238)
Cash Flows from Financing Activities:
Proceeds from notes payable			0	681
Principal payments on notes payable			(26,650)	0
Proceeds from issuance of common stock			0	2,411
Payments to redeem common stock			(207)	(21)
Distributions paid to common stockholders			(1,232)	(2,683)
Net cash (used in) provided by financing activities			(28,089)	388
Net decrease in cash and cash equivalents			(4,031)	(1,745)
Cash and cash equivalents, beginning of period			6,287	6,648
Cash and cash equivalents, end of period	$ 2,256	$ 4,903	2,256	4,903
Supplemental Disclosure of Cash Flow Information
Interest paid			3,047	3,848
Supplemental Disclosure of Noncash Investing and Financing Activities:
Distributions payable			0	464
Accrued improvements to real estate			47	548
Dividends paid to common stockholders through common stock issuances pursuant to the distribution reinvestment plan			$ 522	$ 1,380

ORGANIZATION

ORGANIZATION	9 Months Ended
	Sep. 30, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
ORGANIZATION	ORGANIZATION KBS Growth & Income REIT, Inc. (the “Company”) was formed on January 12, 2015 as a Maryland corporation that elected to be taxed as a real estate investment trust (“REIT”) beginning with the taxable year ended December 31, 2015. Substantially all of the Company’s business is conducted through KBS Growth & Income Limited Partnership (the “Operating Partnership”), a Delaware limited partnership formed on January 14, 2015. The Company is the sole general partner of, and owns a 0.1% partnership interest in, the Operating Partnership. KBS Growth & Income REIT Holdings LLC (“REIT Holdings”), a Delaware limited liability company formed on January 14, 2015, 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. Subject to certain restrictions and limitations, the business of the Company is externally managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, pursuant to an advisory agreement between the Company and the Advisor initially entered into on June 11, 2015, and amended at various times thereafter (the “Advisory Agreement”). The Advisor conducts the Company’s operations and manages its portfolio of core real estate properties. On January 27, 2015, the Company issued 20,000 shares of its common stock to the Advisor at a purchase price of $10.00 per share. On June 11, 2015, these outstanding shares of common stock were designated Class A shares of common stock. As of September 30, 2020, the Company owned three office properties and had made an investment in an unconsolidated joint venture. The Company has invested in a portfolio of core real estate properties. The Company considers core properties to be existing properties with at least 80% occupancy. The Company’s core focus in the U.S. office sector reflects a value-creating core strategy, which is also known as a core-plus strategy. The Company commenced a private placement offering exempt from registration pursuant to Rule 506(b) of Regulation D of the Securities Act of 1933, as amended, on June 11, 2015, pursuant to which the Company offered a maximum of $105,000,000 in shares of its Class A common stock for sale to accredited investors (the “Initial Private Offering”), of which $5,000,000 of Class A shares were offered pursuant to the Company’s distribution reinvestment plan. The Company ceased offering shares in the primary portion of the Initial Private Offering on April 27, 2016 and processed subscriptions for the primary Initial Private Offering dated on or prior to April 27, 2016 through May 30, 2016. KBS Capital Markets Group LLC (the “Dealer Manager”), an affiliate of the Advisor, served as the dealer manager of the Initial Private Offering pursuant to a dealer manager agreement dated June 11, 2015 (the “Initial Private Offering Dealer Manager Agreement”). On February 4, 2015, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to register an initial public offering of its common stock to offer a maximum of $1,500,000,000 in shares of common stock for sale to the public in a primary offering, consisting of two classes of shares: Class A and Class T (the “Primary Offering”) and a maximum of $800,000,000 in both classes of shares of its common stock pursuant to the Company’s distribution reinvestment plan (the “DRP Offering” and, together with the Primary Offering, the “Public Offering”). The SEC declared the Company’s registration statement effective on April 28, 2016 and the Company retained the Dealer Manager to serve as the dealer manager of the Public Offering pursuant to a dealer manager agreement dated April 28, 2016 (the “Public Offering Dealer Manager Agreement”). The Company terminated the Primary Offering effective June 30, 2017. On August 5, 2020, the board of directors of the Company approved the termination of the DRP Offering effective August 20, 2020. On October 3, 2017, the Company launched a private placement offering exempt from registration pursuant to Rule 506(c) of Regulation D of the Securities Act pursuant to which the Company offered a maximum of $1,000,000,000 in shares of its Class A common stock to accredited investors (the “Second Private Offering”). Prior to the launch of the Second Private Offering, on September 29, 2017, the Company entered into a dealer manager agreement (the “NCPS Dealer Agreement”) with the Advisor and North Capital Private Securities Corporation (“NCPS”) in connection with the Second Private Offering. In December 2019, the Company’s board of directors suspended the Second Private Offering and terminated the Second Private Offering on August 5, 2020. The Company sold 8,548,972 shares of Class A common stock for gross offering proceeds of $76.8 million in the Initial Private Offering, including 74,744 shares of Class A common stock under its distribution reinvestment plan for gross offering proceeds of $0.7 million. The Company sold 122,721 and 270,415 shares of Class A and Class T common stock, respectively, in the Primary Offering for aggregate gross offering proceeds of $3.9 million. The Company sold 883,256 and 41,030 shares of Class A and Class T common stock, respectively, in the DRP Offering for aggregate gross offering proceeds of $8.5 million. The Company sold 612,272 shares of Class A common stock in the Second Private Offering for aggregate gross offering proceeds of $5.5 million. As of September 30, 2020, the Company had redeemed 446,853 and 2,245 Class A and Class T shares, respectively, for $3.8 million. Additionally, on August 11, 2015, the Company issued 46,362 shares of Class A common stock to the Company’s affiliates, for an aggregate of $0.3 million, in private transactions exempt from the registration requirements pursuant to Section 4(a)(2) of the Securities Act of 1933. COVID-19 Pandemic One of the most significant risks and uncertainties facing the Company and the real estate industry generally continues to be the effect of the ongoing public health crisis of the novel coronavirus disease (“COVID-19”) pandemic. The Company continues to closely monitor the impact of the COVID-19 pandemic on all aspects of its business, including how the pandemic is affecting its tenants. During the nine months ended September 30, 2020, the Company did not experience significant disruptions in its operations from the COVID-19 pandemic. The Company did, however, recognize impairment charges related to a projected reduction in cash flows as a result of changes in leasing projections that were impacted in part by the COVID-19 pandemic. In addition, reductions in property values related to the impact of the COVID-19 pandemic may limit the Company’s ability to draw on the revolving commitment under its term loan due to covenants described in the loan agreement. Many of the Company’s tenants have experienced disruptions in their business, some more severely than others. In general, the Company’s retail tenants, which comprise approximately 4% of its annualized base rent, have been more severely impacted by the COVID-19 pandemic than its office tenants. During the second and third quarters of 2020, the Company granted rent relief to a small number of tenants, but as the impact of the pandemic continues to be felt, these tenants or additional tenants may request rent relief in future periods or become unable to pay rent, and the Company is unable to predict the ultimate impact the pandemic will have on its financial condition, results of operations and cash flows due to numerous uncertainties. The extent to which the COVID-19 pandemic impacts the Company’s operations and those of its tenants depends on future developments, which remain uncertain and cannot be predicted with confidence, including the scope, severity and duration of the pandemic, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, among others.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2020
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, 2019. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2019 included in the Company’s Annual Report on Form 10-K filed with the Securities and Exchange Commission (“SEC”). Principles of Consolidation and Basis of Presentation The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020. The consolidated financial statements include the accounts of the Company, REIT Holdings, the Operating Partnership, and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation. Use of Estimates The preparation of the consolidated financial statements and the accompanying notes thereto 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 was invested in three office properties as of September 30, 2020 and had made an investment in an unconsolidated joint venture. Substantially all of the Company’s revenue and net loss is from real estate, and therefore, the Company currently operates in one reportable segment. Per Share Data Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding for the nine months ended September 30, 2020 and 2019. Basic and diluted net income (loss) per share of Class A common stock and basic and diluted net income (loss) per share of Class T common stock were equal for the three and nine months ended September 30, 2020 and 2019 as aggregate cash distributions for each share class were equal during those periods. During the three months ended September 30, 2019, aggregate cash distributions declared per share of Class A and Class T common stock were $0.13800000. During the nine months ended September 30, 2020 and 2019, aggregate cash distributions declared per share of Class A and Class T common stock were $0.12645000 and $0.41236183, respectively, assuming the share was issued and outstanding each date that was a record date for distributions during the period. Distributions for the three and nine months ended September 30, 2019 and for the nine months ended September 30, 2020 were calculated as follows: • Distributions for the period from January 1, 2019 through May 31, 2019 were calculated at a rate of $0.00151233 per share per day. • Distributions declared per share of common stock were $0.046 per share for each month commencing June 2019 through September 30, 2019. • Distributions declared per share of common stock were $0.02107500 per share for each month during the period from January 1, 2020 through June 30, 2020. Each day during the periods from January 1, 2019 through May 31, 2019 was a record date for distributions. Beginning June 2019 and from January 2020 through June 2020, distributions per common share were based on a monthly record date for each month. Square Footage, Occupancy and Other Measures Square footage, occupancy, number of tenants and other measures, including annualized base rent and annualized base rent per square foot, or amounts derived from such measures, used to describe real estate investments included in these condensed notes to consolidated financial statements are presented on an unaudited basis and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board. Recently Issued Accounting Standards Update In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”) to provide temporary optional expedients and exceptions to the guidance in GAAP on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (SOFR). Modified contracts that meet the following criteria are eligible for relief from the modification accounting requirements under GAAP: (1) The contract references LIBOR or another rate that is expected to be discontinued due to reference rate reform, (2) The modified terms directly replace or have the potential to replace the reference rate that is expected to be discontinued due to reference rate reform, and (3) Any contemporaneous changes to other terms (i.e., those that do not directly replace or have the potential to replace the reference rate) that change or have the potential to change the amount and timing of contractual cash flows must be related to the replacement of the reference rate. For a contract that meets the criteria, the guidance generally allows an entity to account for and present modifications as an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. That is, the modified contract is accounted for as a continuation of the existing contract. In addition, ASU No. 2020-04 provides various optional expedients for hedging relationships affected by reference rate reform, if certain criteria are met. The amendments in ASU No. 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments in this Update must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. An entity may elect to apply the amendments in ASU No. 2020-04 to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. For the period from January 1, 2020 (the earliest date the Company may elect to apply ASU No. 2020-04) through September 30, 2020, the Company did not have any contract modifications that meet the criteria described above, specifically contract modifications that have been modified from LIBOR to an alternative reference rate. The Company’s loan agreements, derivative instruments, and certain lease agreements use LIBOR as the current reference rate. For eligible contract modifications, the Company expects to adopt the temporary optional expedients described in ASU No. 2020-04. The optional expedients for hedging relationships described in ASU No. 2020-04 are not expected to have an impact to the Company as the Company has elected to not designate its derivative instruments as a hedge. In April 2020, the FASB issued a FASB Staff Q&A related to Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic (the “Topic 842 Q&A”). The Company adopted the lease accounting standards of Topic 842 beginning January 1, 2019. Under Topic 842, subsequent changes to lease payments that are not stipulated in the original lease contract are generally accounted for as lease modifications. Some contracts may contain explicit or implicit enforceable rights and obligations that require lease concessions if certain circumstances arise that are beyond the control of the parties to the contract. If a lease contract provides enforceable rights and obligations for concessions in the contract and no changes are made to that contract, the concessions are not accounted for under the lease modification guidance in Topic 842. If concessions granted by lessors are beyond the enforceable rights and obligations in the contract, entities would generally account for those concessions in accordance with the lease modification guidance in Topic 842. Because of the unprecedented and global nature of the COVID-19 pandemic, the FASB staff is aware that it may be exceedingly challenging for entities to determine whether existing contracts provide enforceable rights and obligations for lease concessions and whether those concessions are consistent with the terms of the contract or are modifications to the contract. As such, the FASB staff believes that it would be acceptable for entities to make an election to account for lease concessions related to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract). Consequently, for concessions related to the effects of the COVID-19 pandemic, an entity will not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract and can elect to apply or not apply the lease modification guidance in Topic 842 to those contracts. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. For example, this election is available for concessions that result in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract. The FASB staff expects that reasonable judgment will be exercised in making those determinations. Some concessions will provide a deferral of payments with no substantive changes to the consideration in the original contract. A deferral affects the timing, but the amount of the consideration is substantially the same as that required by the original contract. The staff expects that there will be multiple ways to account for those deferrals, none of which the staff believes are more preferable than the others. Two of those methods are: (1) Account for the concessions as if no changes to the lease contract were made. Under that accounting, a lessor would increase its lease receivable, and a lessee would increase its accounts payable as receivables/payments accrue. In its income statement, a lessor would continue to recognize income, and a lessee would continue to recognize expense during the deferral period and (2) Account for the deferred payments as variable lease payments. In accordance with the Topic 842 Q&A, the Company made the election to account for lease concessions related to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed. Accordingly, the Company does not analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract and elected not apply the lease modification guidance in Topic 842. For deferrals, the Company accounts for the concessions as if no changes to the lease contract were made and continued to recognize rental income during the deferral period. The amount of deferred rent is assessed for collectability at the end of each reporting period. For rental abatements, the Company recognizes negative variable lease income for the forgiven rent, thereby reversing the rental income and rent receivable for the abated period. The Company has not granted any material lease concessions related to the effects of the COVID-19 pandemic that had a material impact to the Company’s consolidated balance sheet as of September 30, 2020 or consolidated statements of operations for the three and nine months ended September 30, 2020. Tenants may request additional lease concessions or deferrals for future periods, which may have an impact on the Company’s business, financial condition and results of operations, but the ultimate impact will largely depend on future developments with respect to the continued spread and treatment of the virus, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, which the Company cannot accurately predict.

REAL ESTATE HELD FOR INVESTMENT

REAL ESTATE HELD FOR INVESTMENT	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
REAL ESTATE HELD FOR INVESTMENT	REAL ESTATE HELD FOR INVESTMENT As of September 30, 2020, the Company’s portfolio of real estate held for investment was composed of three office buildings containing 582,791 rentable square feet, which were collectively 91.5% occupied. The following table provides summary information regarding the properties owned by the Company as of September 30, 2020 (in thousands): Property Date Acquired City State Property Type Total Real Estate at Cost (1) Accumulated Depreciation and Amortization (1) Total Real Estate, Net (1) Commonwealth Building 06/30/2016 Portland OR Office $ 78,182 $ (13,023) $ 65,159 The Offices at Greenhouse 11/14/2016 Houston TX Office 47,165 (9,248) 37,917 Institute Property 11/09/2017 Chicago IL Office 37,465 (838) 36,627 $ 162,812 $ (23,109) $ 139,703 _____________________ (1) Amounts presented are net of impairment charges and write-offs of fully depreciated/amortized assets. As of September 30, 2020, the following properties each represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage of Annualized Base Rent (in thousands) (1) Average Annualized Base Rent per sq. ft. Occupancy Commonwealth Building Portland, OR 224,122 $ 65,159 44.2 % $ 5,585 $ 28.60 87.1 % The Offices at Greenhouse Houston, TX 203,284 37,917 25.7 % 4,206 20.69 100.0 % Institute Property Chicago, IL 155,385 36,627 24.9 % 3,748 27.78 86.8 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2020, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term. Operating Leases The Company’s real estate properties held for investment are leased to tenants under operating leases for which the terms and expirations vary. As of September 30, 2020, the leases had remaining terms, excluding options to extend, of up to 8.8 years with a weighted-average remaining term of 3.2 years. Some of the leases have provisions to extend the term of the leases, options for early termination for all or a part of the leased premises after paying a specified penalty, and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires a security deposit from the tenant in the form of a cash deposit and/or a letter of credit. The amount required as a security deposit varies depending upon the terms of the respective lease and the creditworthiness of the tenant, but generally is not a significant amount. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit. Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $0.8 million and $1.1 million as of September 30, 2020 and December 31, 2019, respectively. During the nine months ended September 30, 2020 and 2019, the Company recognized deferred rent from tenants, net of lease incentive amortization, of $(0.2) million and $0.4 million, respectively. As of September 30, 2020 and December 31, 2019, the cumulative deferred rent balance was $2.7 million and $3.0 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $0.2 million and $0.2 million of unamortized lease incentives as of September 30, 2020 and December 31, 2019, respectively. As of September 30, 2020, the future minimum rental income from the Company’s properties held for investment under its non-cancelable operating leases was as follows (in thousands): October 1, 2020 through December 31, 2020 $ 3,461 2021 12,718 2022 11,092 2023 8,498 2024 7,317 Thereafter 4,920 $ 48,006 As of September 30, 2020, the Company had a concentration of credit risk related to AECOM, one of the tenants in The Offices at Greenhouse in the engineering industry, which represented 21% of the Company’s annualized base rent. The tenant individually occupied 135,727 rentable square feet or approximately 23% of the total rentable square feet of the Company’s real estate portfolio held for investment, which expires on December 31, 2024, with two five As of September 30, 2020, the Company’s real estate properties held for investment were leased to 62 tenants over a diverse range of industries. The Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Professional, scientific and technical 9 $ 4,980 36.8 % Computer system design and related services 2 1,358 10.0 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2020, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term. As of September 30, 2020, no other tenant industries accounted for more than 10% of annualized base rent. During the nine months ended September 30, 2020 and 2019, the Company excluded from rental income $0.6 million and $0.5 million, respectively, related to lease payments that were deemed not probable of collection. During the nine months ended September 30, 2019, the Company recorded bad debt recovery of $27,000, which was included in operating, maintenance, and management expense in the accompanying consolidated statements of operations. No bad debt expense or recovery was recorded during the nine months ended September 30, 2020. Impairment of Real Estate During the nine months ended September 30, 2020, the Company recorded non-cash impairment charges of $5.8 million to write down the carrying value of the Institute Property, an office property located in Chicago, Illinois, to its estimated fair value as a result of changes in cash flow estimates including a change in leasing projections, which triggered the future estimated undiscounted cash flows to be lower than the net carrying value of the property. The decrease in cash flow projections was primarily due to reduced demand for the office space at the property resulting in longer lease-up periods and a decrease in projected rental rates and was further impacted by the COVID-19 pandemic which the Company believes will result in additional challenges to release the vacant space. Further, tenants at the Institute Property have been adversely impacted by the measures put in place to control the spread of COVID-19 and many tenants have requested rent concessions as their businesses have been severely impacted.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	9 Months Ended
	Sep. 30, 2020
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW- MARKET LEASE LIABILITIES As of September 30, 2020 and December 31, 2019, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands): Tenant Origination and Above-Market Below-Market September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Cost $ 11,222 $ 13,822 $ 213 $ 213 $ (5,393) $ (6,213) Accumulated Amortization (6,031) (6,818) (115) (93) 3,651 3,680 Net Amount $ 5,191 $ 7,004 $ 98 $ 120 $ (1,742) $ (2,533) Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2020 and 2019 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended September 30, For the Three Months Ended September 30, For the Three Months Ended September 30, 2020 2019 2020 2019 2020 2019 Amortization $ (470) $ (627) $ (7) $ (7) $ 236 $ 308 Tenant Origination and Absorption Costs Above-Market Below-Market For the Nine Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 2020 2019 Amortization $ (1,559) $ (1,977) $ (22) $ (22) $ 791 $ 981

REAL ESTATE SALES

REAL ESTATE SALES	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
REAL ESTATE SALES	REAL ESTATE SALES During the nine months ended September 30, 2020, the Company sold one office property. The results of operations for the property sold during the nine months ended September 30, 2020 are included in continuing operations on the Company’s consolidated statements of operations. As of September 30, 2020, the Company did not have any real estate properties held for sale. The following table summarizes certain revenue and expenses related to the property that was sold during the nine months ended September 30, 2020, which were included in continuing operations (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues Rental income $ — $ 572 $ 100 $ 1,682 Other operating income — 17 — 59 Total revenues $ — $ 589 $ 100 $ 1,741 Expenses Operating, maintenance, and management $ — $ 171 $ 41 $ 493 Property management fees and expenses to affiliate — 8 1 25 Real estate taxes and insurance — 77 15 226 Asset management fees to affiliate — 55 10 163 General and administrative expenses — 4 18 9 Depreciation and amortization — 130 — 414 Interest expense — 203 30 839 Total expenses $ — $ 648 $ 115 $ 2,169 The following summary presents the major components of assets and liabilities related to real estate held for sale as of September 30, 2020 and December 31, 2019 (in thousands). No real estate properties were held for sale as of September 30, 2020: September 30, 2020 December 31, 2019 Assets related to real estate held for sale Total real estate, at cost $ — $ 20,602 Accumulated depreciation and amortization — (2,008) Real estate held for sale, net — 18,594 Other assets — 760 Total assets related to real estate held for sale $ — $ 19,354 Liabilities related to real estate held for sale Total notes payable, net $ — $ 13,948 Other liabilities — 1,057 Total liabilities related to real estate held for sale $ — $ 15,005

INVESTMENT IN UNCONSOLIDATED JO

INVESTMENT IN UNCONSOLIDATED JOINT VENTURE	9 Months Ended
	Sep. 30, 2020
Equity Method Investments and Joint Ventures [Abstract]
INVESTMENT IN UNCONSOLIDATED JOINT VENTURE	INVESTMENT IN UNCONSOLIDATED JOINT VENTURE On June 28, 2019, the Company, through an indirect wholly owned subsidiary, and FGPH 210 W. Chicago LLC (the “JV Partner”), entered into a limited liability company agreement (the “JV Agreement”) to form a joint venture (the “Joint Venture”). Prior to entering into the Joint Venture, an affiliate of the JV Partner entered into a purchase and sale agreement to acquire an office property containing 16,239 rentable square feet located on approximately 8,072 square feet of land in Chicago, Illinois (“210 W. Chicago”), and such affiliate of the JV Partner assigned the purchase and sale agreement to the Joint Venture and the Joint Venture acquired 210 W. Chicago on June 28, 2019. The contractual purchase price of 210 W. Chicago was $5.4 million plus closing costs. The Joint Venture funded the purchase of 210 W. Chicago with a $3.8 million mortgage loan from an unaffiliated lender and with contributions from the Joint Venture members. As of September 30, 2020, the Company and the JV Partner each owned a 50% equity interest in the Joint Venture, with the Company serving as the manager of the Joint Venture. Major decisions, as defined in the JV Agreement, required affirmative unanimous written consent. Income, losses and distributions were generally allocated based on the members’ respective equity interests. In accordance with the JV Agreement, if a cause event occurs (as defined in the JV agreement) or the members do not enter into a parking lot joint venture agreement prior to the expiration of the parking lot joint venture negotiation period and at any time during the 120 day period following the expiration of the parking lot joint venture negotiation period, the JV Partner may elect to exercise a call option to purchase the membership interest of the Company or a put option to sell its membership interest to the Company at an amount equal to 125% of unreturned capital contributions of the member’s interest being acquired. The parking lot venture negotiation period expired on June 30, 2020. On September 4, 2020, the JV Partner exercised its put option available under the JV agreement. On October 5, 2020, the Company purchased the JV Partner’s 50% membership interest for $1.1 million and consolidated the Joint Venture as of that date. During the three months ended September 30, 2020, the Company recorded an estimated loss of $0.3 million related to its obligation to satisfy the put option to the JV Partner, which was included in equity in loss of unconsolidated joint venture. The loss was estimated based on the expected loss to be recorded on consolidation of the entity, which was determined based on FASB ASC 810, Consolidation , guidance for initial consolidation of a variable interest entity that is not considered a business. The loss was estimated based on the difference between (a) the sum of the value of the consideration paid plus the carrying amount of the previously held interests in the entity and (b) the estimated fair values of the net assets held within the entity as of the consolidation date. During the three and nine months ended September 30, 2020, the Company recognized $0.4 million and $0.8 million of equity loss, respectively, and $13,000 of equity income during the three and nine months ended September 30, 2019. Equity loss recognized during the nine months ended September 30, 2020 included $0.5 million of impairment related to the Company’s investment in the Joint Venture and $0.3 million of loss recorded related to the consolidation of the VIE as discussed above. The impairment was a result of the decline in fair value of the underlying 210 W. Chicago property due to changes in cash flow estimates including a change in leasing projections, which triggered future estimated undiscounted cash flows to be lower than the net carrying value of the property. The decrease in cash flow projections was primarily due to reduced demand for the office space at the property resulting in a decrease in projected rental rates as leases mature. Further, tenants at 210 W. Chicago have been adversely impacted by the measures put in place to control the spread of COVID-19 and many tenants have requested rent concessions as their businesses have been severely impacted. As of September 30, 2020, the book value of the Company’s investment in the Joint Venture was $0.5 million. As of September 30, 2020, the Company’s maximum loss exposure related to its investment in the Joint Venture was equal to the carrying value of its $0.5 million investment and the Company’s obligation of $1.1 million to satisfy the JV Partner’s put option pursuant to the JV Agreement.

NOTES PAYABLE

NOTES PAYABLE	9 Months Ended
	Sep. 30, 2020
Notes Payable [Abstract]
NOTES PAYABLE	NOTES PAYABLE As of September 30, 2020 and December 31, 2019, the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of September 30, 2020 Book Value as of December 31, 2019 Contractual Interest Rate as of September 30, 2020 (1) Effective Interest Rate at September 30, 2020 (1) Payment Type Maturity Date (2) Commonwealth Building Mortgage Loan (3) $ 45,681 $ 45,681 One-month LIBOR + 1.80% 3.74% Interest Only 02/01/2023 Term Loan (4) 46,150 72,800 One-month LIBOR + 2.00% 4.07% Interest Only 11/09/2020 Notes payable principal outstanding $ 91,831 $ 118,481 Deferred financing costs, net (348) (620) Notes payable, net $ 91,483 $ 117,861 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2020. Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2020 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of September 30, 2020, where applicable. (2) Represents the maturity date as of September 30, 2020; subject to certain conditions, the maturity dates of the loans may be extended beyond the dates shown. (3) As of September 30, 2020, there are two one (4) On January 17, 2020, in connection with the disposition of Von Karman Tech Center, pursuant to the terms of the Term Loan, the Company reduced the amount of the term commitment and revolving commitment to $39.4 million and $19.7 million, respectively. As of September 30, 2020, the outstanding balance under the Term Loan consisted of $39.4 million of term commitment and $6.7 million of revolving commitment. As of September 30, 2020, there were two one During the three and nine months ended September 30, 2020, the Company incurred $0.6 million and $4.3 million of interest expense, respectively. During the three and nine months ended September 30, 2019, the Company incurred $1.6 million and $6.1 million of interest expense, respectively. As of September 30, 2020 and December 31, 2019, $0.3 million and $0.4 million of interest expense were payable, respectively. Included in interest expense during the three and nine months ended September 30, 2020 were $0.1 million and $0.2 million of amortization of deferred financing costs, respectively. Included in interest expense during the three and nine months ended September 30, 2019 were $0.1 million and $0.3 million of amortization of deferred financing costs, respectively. Interest expense (including gains and losses) incurred as a result of the Company’s derivative instruments increased interest expense by $19,000 and $2.1 million for the three and nine months ended September 30, 2020, respectively. Interest expense (including gains and losses) incurred as a result of the Company’s derivative instruments increased interest expense by $0.2 million and $1.9 million for the three and nine months ended September 30, 2019, respectively. The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of September 30, 2020 (in thousands): October 1, 2020 through December 31, 2020 (1) $ 46,150 2021 — 2022 — 2023 45,681 2024 — Thereafter — $ 91,831 _____________________ (1) Subsequent to September 30, 2020, the Company exercised its extension option under the Term Loan and extended the maturity date to November 9, 2021.

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
DERIVATIVE INSTRUMENTS	DERIVATIVE INSTRUMENTS The Company enters into derivative instruments for risk management purposes to hedge its exposure to cash flow variability caused by changing interest rates. The primary goal of the Company’s risk management practices related to interest rate risk is to prevent changes in interest rates from adversely impacting the Company’s ability to achieve its investment return objectives. The Company does not enter into derivatives for speculative purposes. The Company enters into interest rate swaps as a fixed rate payer to mitigate its exposure to rising interest rates on its variable rate notes payable. The value of interest rate swaps is primarily impacted by interest rates, market expectations about interest rates, and the remaining life of the instrument. In general, increases in interest rates, or anticipated increases in interest rates, will increase the value of the fixed rate payer position and decrease the value of the variable rate payer position. As the remaining life of the interest rate swap decreases, the value of both positions will generally move towards zero. The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of September 30, 2020 and December 31, 2019. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): September 30, 2020 December 31, 2019 Weighted-Average Weighted-Average Remaining Term in Years Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Reference Rate as of September 30, 2020 Derivative instruments not designated as hedging instruments Interest Rate Swaps 2 $ 78,533 2 $ 78,533 One-month LIBOR/ Fixed at 2.07% - 2.82% 2.36% 1.5 The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of September 30, 2020 and December 31, 2019 (dollars in thousands): September 30, 2020 December 31, 2019 Derivative Instruments Balance Sheet Location Number of Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 2 $ (2,664) 2 $ (1,503) The change in fair value of a derivative instrument that is not designated as a cash flow hedge is included in interest expense in the accompanying consolidated statements of operations. The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Income statement related Derivatives not designated as hedging instruments Realized loss (gain) recognized on interest rate swaps $ 439 $ 21 $ 938 $ (57) Unrealized (gain) loss on interest rate swaps (420) 222 1,161 1,949 Increase in interest expense as a result of derivatives $ 19 $ 243 $ 2,099 $ 1,892

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	9 Months Ended
	Sep. 30, 2020
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 long-lived assets). Fair value, as defined under GAAP, is 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 financial instrument for which it is practicable to estimate the fair value: Cash and cash equivalents, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. Derivative instruments: The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk. Notes payable: The fair value of the Company’s notes payable is estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. The Company classifies these inputs as Level 3 inputs. The following were the face values, carrying amounts and fair values of the Company’s notes payable as of September 30, 2020 and December 31, 2019, which carrying amounts generally do not approximate the fair values (in thousands): September 30, 2020 December 31, 2019 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 91,831 $ 91,483 $ 90,589 $ 118,481 $ 117,861 $ 119,196 Disclosure of the fair values of financial instruments is based on pertinent information available to the Company as of the period end and requires a significant amount of judgment. The actual value could be materially different from the Company’s estimate of value. As of September 30, 2020, the Company measured the following derivative instruments at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Liability derivative - interest rate swaps $ (2,664) $ — $ (2,664) $ — During the nine months ended September 30, 2020, the Company measured the following asset(s) at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Nonrecurring Basis: Impaired real estate (1) $ 37,100 $ — $ — $ 37,100 Investment in unconsolidated joint venture (1) $ 528 $ — $ — $ 528 _____________________ (1) Amount represents the fair value for a real estate asset or investment in unconsolidated joint venture impacted by an impairment charge during the nine months ended September 30, 2020, as of the date that the fair value measurement was made. The carrying value for the real estate asset or investment in unconsolidated joint venture may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date. During the nine months ended September 30, 2020, one of the Company’s real estate properties was measured at its estimated fair value based on a discounted cash flow approach. The significant unobservable inputs the Company used in measuring the estimated fair value of this property include a discount rate of 7.50% and a terminal cap rate of 6.25%. See Note 3, “Real Estate Held for Investment - Impairment of Real Estate” for further discussion on the impaired real estate property. In addition, during the nine months ended September 30, 2020, the Company measured its investment in unconsolidated joint venture to its estimated fair value based on a discounted cash flow approach. The significant unobservable inputs the Company used in measuring the estimated fair value of the underlying property of the investment include a discount rate of 10.00% and a terminal cap rate of 6.75%. See Note 6, “Investment in Unconsolidated Joint Venture” for further discussion.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Pursuant to the Advisory Agreement, the Initial Private Offering Dealer Manager Agreement and the Public Offering Dealer Manager Agreement, the Company is or was obligated to pay the Advisor and the Dealer Manager specified fees upon the provision of certain services related to the Initial Private Offering and the Public Offering, the investment of funds in real estate, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company was also obligated to reimburse the Advisor and Dealer Manager for certain organization and offering costs incurred by the Advisor and the Dealer Manager on behalf of the Company, and the Company is obligated to reimburse the Advisor for acquisition and origination expenses and certain operating expenses incurred on behalf of the Company or incurred in connection with providing services to the Company. The Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. In addition, the Advisor has paid all offering expenses related to the Second Private Offering without reimbursement by the Company. In addition, in connection with certain property acquisitions, the Company, through indirect wholly owned subsidiaries, has entered into separate Property Management Agreements (defined below) with KBS Management Group, LLC, an affiliate of the Advisor (the “Co-Manager”). The Company has also entered into a fee reimbursement agreement with the Dealer Manager pursuant to which the Company agreed to reimburse the Dealer Manager for certain fees and expenses it incurs for administering the Company’s participation in the DTCC Alternative Investment Product Platform with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor also serves or served as the advisor for KBS Real Estate Investment Trust II, Inc. (“KBS REIT II”), KBS Real Estate Investment Trust III, Inc. (“KBS REIT III”), Pacific Oak Strategic Opportunity REIT, Inc., formerly KBS Strategic Opportunity REIT, Inc. (“Pacific Oak Strategic Opportunity REIT”) and Pacific Oak Strategic Opportunity REIT II, Inc., formerly KBS Strategic Opportunity REIT II, Inc. (“Pacific Oak Strategic Opportunity REIT II”). Effective October 31, 2019, the respective advisory agreements between the Advisor and Pacific Oak Strategic Opportunity REIT and Pacific Oak Strategic Opportunity REIT II terminated. The Dealer Manager also serves or served as the dealer manager for KBS REIT II, KBS REIT III, Pacific Oak Strategic Opportunity REIT and Pacific Oak Strategic Opportunity REIT II. Effective December 31, 2019, the respective dealer-manager agreements between the Dealer Manager, Pacific Oak Strategic Opportunity REIT and Pacific Oak Strategic Opportunity REIT II terminated. On November 1, 2019, Pacific Oak Strategic Opportunity REIT and Pacific Oak Strategic Opportunity REIT II each entered into advisory agreements with a new external advisor, Pacific Oak Capital Advisors, LLC. Pacific Oak Capital Advisors, LLC is part of a group of companies formed, owned and managed by Keith D. Hall and Peter McMillan III. Together, through GKP Holding LLC, Messrs. Hall and McMillan, continue to indirectly own a 33 1/3% interest in the Advisor and the Dealer Manager. As of January 1, 2019, the Company, together with KBS REIT II, KBS REIT III, the Dealer Manager, the Advisor and other KBS affiliated entities, had entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage were shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the program and is billed directly to each entity. In June 2020, the Company renewed its participation in the program. The program is effective through June 30, 2021. During the nine months ended September 30, 2020 and 2019, no other business transactions occurred between the Company and KBS REIT II, KBS REIT III, Pacific Oak Strategic Opportunity REIT and Pacific Oak Strategic Opportunity REIT II. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2020 and 2019, and any related amounts payable as of September 30, 2020 and December 31, 2019 (in thousands). Incurred Payable as of Three Months Ended September 30, Nine Months Ended September 30, December 31, 2020 2019 2020 2019 2020 2019 Expensed Asset management fees (1) $ 432 $ 483 $ 1,293 $ 1,412 $ 5,464 $ 4,171 Reimbursement of operating expenses (2) 80 49 232 139 25 29 Property management fees (3) 32 40 102 122 3 14 Disposition fees (4) — — 381 — — — Other Arrangement Advisor advance for cash distributions (5) — — — — 1,338 1,338 $ 544 $ 572 $ 2,008 $ 1,673 $ 6,830 $ 5,552 _____________________ (1) The asset management fee is a monthly fee payable to the Advisor in an amount equal to one-twelfth of 1.0% of the cost of the Company’s investments including the portion of the investment that is debt financed. As of September 30, 2020, the Company had accrued and deferred payment of $5.5 million of asset management fees related to October 2017 through September 2020. (2) See “Reimbursable Operating Expenses” below. (3) See “Real Estate Property Co-Management Agreements” below. (4) Disposition fees with respect to real estate sold are included in the gain on sale of real estate, net, in the accompanying consolidated statements of operations. (5) See “Advance from the Advisor” below. Reimbursable Operating Expenses Reimbursable operating expenses primarily related to directors and officers liability insurance, legal fees, state and local taxes, accounting software and cybersecurity related expenses incurred by the Advisor under the Advisory Agreement. The Company has reimbursed the Advisor for the Company’s allocable portion of the salaries, benefits and overhead of internal audit department personnel providing services to the Company. These amounts totaled $80,000 and $232,000 for the three and nine months ended September 30, 2020, respectively, and $49,000 and $139,000 for the three and nine months ended September 30, 2019, respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the three and nine months ended September 30, 2020 and 2019, respectively. The Company does not reimburse for employee costs in connection with services for which the Advisor earned or earns acquisition, origination 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. Effective September 29, 2017, the Company eliminated its obligation to reimburse expenses incurred by the Advisor in connection with providing services pursuant to the Advisory Agreement, other than (i) the allocable portion of the costs of the internal audit department and (ii) promotional costs and expenses related to the leasing of properties. The Advisor must reimburse the Company the amount by which the Company’s aggregate total operating expenses for the four fiscal quarters then ended exceed the greater of 2% of the Company’s average invested assets or 25% of the Company’s net income, unless the conflicts committee has determined that such excess expenses were justified based on unusual and non-recurring factors. Operating expenses for the four fiscal quarters ended September 30, 2020 exceeded the charter-imposed limitation; however, the Company’s conflicts committee determined that the relationship of the Company’s operating expenses to its average invested assets was justified as the Company is now entering its liquidation stage and has incurred additional legal and financial advisor expenses as a result and has already sold one of its real estate properties. Advance from the Advisor The Advisor advanced funds to the Company, which are non-interest bearing, for distribution record dates through the period ended May 31, 2016. As of September 30, 2020, the total advanced funds due to the Advisor from the Company was approximately $1.3 million, which is included in due to affiliates in the Company’s consolidated balance sheet. The Company is only obligated to repay the Advisor for its advance if and to the extent that: (i) the Company’s modified funds from operations (“MFFO”), as such term is defined by the Institute for Portfolio Alternatives and interpreted by the Company, for the immediately preceding month exceeds the amount of cash distributions declared for record dates of such prior month (an “MFFO Surplus”), and the Company will pay the Advisor the amount of the MFFO Surplus to reduce the principal amount outstanding under the advance, provided that such payments shall only be made if management in its sole discretion expects an MFFO Surplus to be recurring for at least the next two calendar quarters, determined on a quarterly basis; or (ii) Excess proceeds from third-party financings are available (“Excess Proceeds”), provided that the amount of any such Excess Proceeds that may be used to repay the principal amount outstanding under the advance shall be determined by the conflicts committee in its sole discretion. In determining whether Excess Proceeds are available to repay the advance, the Company’s conflicts committee will consider whether cash on hand could have been used to reduce the amount of third-party financing provided to us. If such cash could have been used instead of third-party financing, the third-party financing proceeds will be available to repay the advance. Real Estate Property Co-Management Agreements In connection with its property acquisitions, the Company, through separate, indirect, wholly-owned subsidiaries, entered into separate property management agreements (each, a “Property Management Agreement”) with the Co-Manager for each of its properties. Under each Property Management Agreement, the Co-Manager will provide certain management services related to these properties in addition to those provided by the third-party property managers. In exchange for these services, the Company pays the Co-Manager a monthly fee equal to a percentage of the rent, payable and actually collected for the month from each of the properties. Each Property Management Agreement has an initial term of one year and will be deemed renewed for successive one Property Name Effective Date Annual Fee Percentage Von Karman Tech Center (1) 07/31/2015 1.50% Commonwealth Building 07/01/2016 1.25% The Offices at Greenhouse 11/14/2016 0.25% Institute Property 11/09/2017 1.00% _____________________ (1) On January 17, 2020, the Company sold Von Karman Tech Center. The Property Management Agreement for Von Karman Tech Center was terminated effective January 17, 2020. Organization and Offering Costs Offering costs include all expenses incurred in connection with the offerings of securities by the Company. Organization costs include all expenses incurred in connection with the formation of the Company, including but not limited to legal fees and other costs to incorporate the Company. With respect to the Public Offering, the Advisor and the Dealer Manager generally paid the organization and offering expenses of the Company incurred in the Primary Offering (other than selling commissions, dealer manager fees and stockholder servicing fees) directly. The Company reimbursed the Advisor, the Dealer Manager and its affiliates up to 1% of gross proceeds raised in the Primary Offering for commercially reasonable organization and offering expenses (other than selling commissions, dealer manager fees and stockholder servicing fees). The Advisor, the Dealer Manager and their affiliates were responsible for all organization and other offering expenses (which excludes selling commissions, dealer manager fees and stockholder servicing fees) paid related to the Primary Offering to the extent they exceeded 1% of gross proceeds raised in the Primary Offering. The Company did not reimburse the Dealer Manager for wholesaling compensation expenses. During the Initial Private Offering, the Company was obligated to reimburse the Advisor and its affiliates for all organization and offering costs (excluding wholesaling compensation expenses) paid by them on behalf of the Company. The Advisor has agreed to pay directly all offering expenses related to the Second Private Offering without reimbursement by the Company.

PRO FORMA FINANCIAL INFORMATION

PRO FORMA FINANCIAL INFORMATION	9 Months Ended
	Sep. 30, 2020
Disposal Group, Pro Forma Information [Abstract]
PRO FORMA FINANCIAL INFORMATION	PRO FORMA FINANCIAL INFORMATION The following unaudited pro forma information for the three and nine months ended September 30, 2020 and 2019 has been prepared to give effect the disposition of Von Karman Tech Center on January 17, 2020, as if the disposition occurred on January 1, 2019. These unaudited pro forma financial statements are prepared for informational purposes only and are not necessarily indicative of future results or of actual results that would have been achieved had the disposition of Von Karman Tech Center been consummated as of January 1, 2019 (in thousands, except share and per share amounts). For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues $ 4,058 $ 4,773 $ 13,243 $ 13,773 Net loss $ (1,501) $ (1,148) $ (6,415) $ (5,046) Net loss per common share, basic and diluted $ (0.15) $ (0.11) $ (0.63) $ (0.51)

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2020
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Economic Dependency The Company depends on the Advisor for certain services that are essential to the Company, including the management of the daily operations of the Company’s investment portfolio, disposition of investments and other general and administrative responsibilities. In the event that the Advisor is unable to provide such services, the Company will be required to obtain such services from other sources. Legal Matters From time to time, the Company may become party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings of which the outcome is probable or reasonably possible to have a material adverse effect on the Company’s results of operations or financial condition, which would require accrual or disclosure of the contingency and possible range of loss. Additionally, the Company has not recorded any loss contingencies related to legal proceedings in which the potential loss is deemed to be remote. Environmental As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. 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. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s property, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the property could result in future environmental liabilities.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2020
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Distributions Authorized On November 10, 2020, the Company’s board of directors authorized a quarterly distribution in the amount of $0.04215000 per share of common stock to stockholders of record as of the close of business on November 13, 2020, which the Company expects to pay in November 2020.

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	3 Months Ended	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2020
Accounting Policies [Abstract]
Basis of Presentation		The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X.  Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements.  In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods.  Operating results for the three and nine months ended September 30, 2020 are not necessarily indicative of the results that may be expected for the year ending December 31, 2020.
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.  All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates	The preparation of the consolidated financial statements and the accompanying notes thereto 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 was invested in three office properties as of September 30, 2020 and had made an investment in an unconsolidated joint venture. Substantially all of the Company’s revenue and net loss is from real estate, and therefore, the Company currently operates in one reportable segment.
Per Share Data		Basic net income (loss) per share of common stock is calculated by dividing net income (loss) by the weighted-average number of shares of common stock issued and outstanding during such period. Diluted net income (loss) per share of common stock equals basic net income (loss) per share of common stock as there were no potentially dilutive securities outstanding for the nine months ended September 30, 2020 and 2019. Basic and diluted net income (loss) per share of Class A common stock and basic and diluted net income (loss) per share of Class T common stock were equal for the three and nine months ended September 30, 2020 and 2019 as aggregate cash distributions for each share class were equal during those periods. During the three months ended September 30, 2019, aggregate cash distributions declared per share of Class A and Class T common stock were $0.13800000. During the nine months ended September 30, 2020 and 2019, aggregate cash distributions declared per share of Class A and Class T common stock were $0.12645000 and $0.41236183, respectively, assuming the share was issued and outstanding each date that was a record date for distributions during the period. Distributions for the three and nine months ended September 30, 2019 and for the nine months ended September 30, 2020 were calculated as follows: • Distributions for the period from January 1, 2019 through May 31, 2019 were calculated at a rate of $0.00151233 per share per day. • Distributions declared per share of common stock were $0.046 per share for each month commencing June 2019 through September 30, 2019. • Distributions declared per share of common stock were $0.02107500 per share for each month during the period from January 1, 2020 through June 30, 2020. Each day during the periods from January 1, 2019 through May 31, 2019 was a record date for distributions. Beginning June 2019 and from January 2020 through June 2020, distributions per common share were based on a monthly record date for each month.
Square Footage, Occupancy and Other Measures		Square footage, occupancy, number of tenants and other measures, including annualized base rent and annualized base rent per square foot, or amounts derived from such measures, used to describe real estate investments included in these condensed notes to consolidated financial statements are presented on an unaudited basis and outside the scope of the Company’s independent registered public accounting firm’s review of the Company’s financial statements in accordance with the standards of the United States Public Company Accounting Oversight Board.
Recently Issued Accounting Standards Updates		In March 2020, the FASB issued ASU No. 2020-04, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting (“ASU No. 2020-04”) to provide temporary optional expedients and exceptions to the guidance in GAAP on contract modifications and hedge accounting to ease the financial reporting burdens related to the expected market transition from the London Interbank Offered Rate (LIBOR) and other interbank offered rates to alternative reference rates, such as the Secured Overnight Financing Rate (SOFR). Modified contracts that meet the following criteria are eligible for relief from the modification accounting requirements under GAAP: (1) The contract references LIBOR or another rate that is expected to be discontinued due to reference rate reform, (2) The modified terms directly replace or have the potential to replace the reference rate that is expected to be discontinued due to reference rate reform, and (3) Any contemporaneous changes to other terms (i.e., those that do not directly replace or have the potential to replace the reference rate) that change or have the potential to change the amount and timing of contractual cash flows must be related to the replacement of the reference rate. For a contract that meets the criteria, the guidance generally allows an entity to account for and present modifications as an event that does not require contract remeasurement at the modification date or reassessment of a previous accounting determination. That is, the modified contract is accounted for as a continuation of the existing contract. In addition, ASU No. 2020-04 provides various optional expedients for hedging relationships affected by reference rate reform, if certain criteria are met. The amendments in ASU No. 2020-04 are effective for all entities as of March 12, 2020 through December 31, 2022. An entity may elect to apply the amendments for contract modifications by Topic or Industry Subtopic as of any date from the beginning of an interim period that includes or is subsequent to March 12, 2020, or prospectively from a date within an interim period that includes or is subsequent to March 12, 2020, up to the date that the financial statements are available to be issued. Once elected for a Topic or an Industry Subtopic, the amendments in this Update must be applied prospectively for all eligible contract modifications for that Topic or Industry Subtopic. An entity may elect to apply the amendments in ASU No. 2020-04 to eligible hedging relationships existing as of the beginning of the interim period that includes March 12, 2020 and to new eligible hedging relationships entered into after the beginning of the interim period that includes March 12, 2020. For the period from January 1, 2020 (the earliest date the Company may elect to apply ASU No. 2020-04) through September 30, 2020, the Company did not have any contract modifications that meet the criteria described above, specifically contract modifications that have been modified from LIBOR to an alternative reference rate. The Company’s loan agreements, derivative instruments, and certain lease agreements use LIBOR as the current reference rate. For eligible contract modifications, the Company expects to adopt the temporary optional expedients described in ASU No. 2020-04. The optional expedients for hedging relationships described in ASU No. 2020-04 are not expected to have an impact to the Company as the Company has elected to not designate its derivative instruments as a hedge. In April 2020, the FASB issued a FASB Staff Q&A related to Topic 842 and Topic 840: Accounting for Lease Concessions Related to the Effects of the COVID-19 Pandemic (the “Topic 842 Q&A”). The Company adopted the lease accounting standards of Topic 842 beginning January 1, 2019. Under Topic 842, subsequent changes to lease payments that are not stipulated in the original lease contract are generally accounted for as lease modifications. Some contracts may contain explicit or implicit enforceable rights and obligations that require lease concessions if certain circumstances arise that are beyond the control of the parties to the contract. If a lease contract provides enforceable rights and obligations for concessions in the contract and no changes are made to that contract, the concessions are not accounted for under the lease modification guidance in Topic 842. If concessions granted by lessors are beyond the enforceable rights and obligations in the contract, entities would generally account for those concessions in accordance with the lease modification guidance in Topic 842. Because of the unprecedented and global nature of the COVID-19 pandemic, the FASB staff is aware that it may be exceedingly challenging for entities to determine whether existing contracts provide enforceable rights and obligations for lease concessions and whether those concessions are consistent with the terms of the contract or are modifications to the contract. As such, the FASB staff believes that it would be acceptable for entities to make an election to account for lease concessions related to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed (regardless of whether those enforceable rights and obligations for the concessions explicitly exist in the contract). Consequently, for concessions related to the effects of the COVID-19 pandemic, an entity will not have to analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract and can elect to apply or not apply the lease modification guidance in Topic 842 to those contracts. This election is available for concessions related to the effects of the COVID-19 pandemic that do not result in a substantial increase in the rights of the lessor or the obligations of the lessee. For example, this election is available for concessions that result in the total payments required by the modified contract being substantially the same as or less than total payments required by the original contract. The FASB staff expects that reasonable judgment will be exercised in making those determinations. Some concessions will provide a deferral of payments with no substantive changes to the consideration in the original contract. A deferral affects the timing, but the amount of the consideration is substantially the same as that required by the original contract. The staff expects that there will be multiple ways to account for those deferrals, none of which the staff believes are more preferable than the others. Two of those methods are: (1) Account for the concessions as if no changes to the lease contract were made. Under that accounting, a lessor would increase its lease receivable, and a lessee would increase its accounts payable as receivables/payments accrue. In its income statement, a lessor would continue to recognize income, and a lessee would continue to recognize expense during the deferral period and (2) Account for the deferred payments as variable lease payments. In accordance with the Topic 842 Q&A, the Company made the election to account for lease concessions related to the effects of the COVID-19 pandemic consistent with how those concessions would be accounted for under Topic 842 as though enforceable rights and obligations for those concessions existed. Accordingly, the Company does not analyze each contract to determine whether enforceable rights and obligations for concessions exist in the contract and elected not apply the lease modification guidance in Topic 842. For deferrals, the Company accounts for the concessions as if no changes to the lease contract were made and continued to recognize rental income during the deferral period. The amount of deferred rent is assessed for collectability at the end of each reporting period. For rental abatements, the Company recognizes negative variable lease income for the forgiven rent, thereby reversing the rental income and rent receivable for the abated period. The Company has not granted any material lease concessions related to the effects of the COVID-19 pandemic that had a material impact to the Company’s consolidated balance sheet as of September 30, 2020 or consolidated statements of operations for the three and nine months ended September 30, 2020. Tenants may request additional lease concessions or deferrals for future periods, which may have an impact on the Company’s business, financial condition and results of operations, but the ultimate impact will largely depend on future developments with respect to the continued spread and treatment of the virus, the actions taken to contain the pandemic or mitigate its impact, and the direct and indirect economic effects of the pandemic and containment measures, which the Company cannot accurately predict.

REAL ESTATE HELD FOR INVESTME_2

REAL ESTATE HELD FOR INVESTMENT (Tables)	9 Months Ended
	Sep. 30, 2020
Real Estate [Abstract]
Schedule of Real Estate	The following table provides summary information regarding the properties owned by the Company as of September 30, 2020 (in thousands): Property Date Acquired City State Property Type Total Real Estate at Cost (1) Accumulated Depreciation and Amortization (1) Total Real Estate, Net (1) Commonwealth Building 06/30/2016 Portland OR Office $ 78,182 $ (13,023) $ 65,159 The Offices at Greenhouse 11/14/2016 Houston TX Office 47,165 (9,248) 37,917 Institute Property 11/09/2017 Chicago IL Office 37,465 (838) 36,627 $ 162,812 $ (23,109) $ 139,703 _____________________ (1) Amounts presented are net of impairment charges and write-offs of fully depreciated/amortized assets.
Schedules of Concentration of Risk, by Risk Factor	As of September 30, 2020, the following properties each represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage of Annualized Base Rent (in thousands) (1) Average Annualized Base Rent per sq. ft. Occupancy Commonwealth Building Portland, OR 224,122 $ 65,159 44.2 % $ 5,585 $ 28.60 87.1 % The Offices at Greenhouse Houston, TX 203,284 37,917 25.7 % 4,206 20.69 100.0 % Institute Property Chicago, IL 155,385 36,627 24.9 % 3,748 27.78 86.8 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of September 30, 2020, adjusted to straight-line any contractual tenant concessions (including free rent), rent increases and rent decreases from the lease’s inception through the balance of the lease term.
Schedule of Future Minimum Rental Income for Company's Properties	As of September 30, 2020, the future minimum rental income from the Company’s properties held for investment under its non-cancelable operating leases was as follows (in thousands): October 1, 2020 through December 31, 2020 $ 3,461 2021 12,718 2022 11,092 2023 8,498 2024 7,317 Thereafter 4,920 $ 48,006
Schedules of Concentration of Risk, by Industry	As of September 30, 2020, the Company’s real estate properties held for investment were leased to 62 tenants over a diverse range of industries. The Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows: Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Annualized Base Rent Professional, scientific and technical 9 $ 4,980 36.8 % Computer system design and related services 2 1,358 10.0 % _____________________

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2020
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities	As of September 30, 2020 and December 31, 2019, the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities (excluding fully amortized assets and liabilities and accumulated amortization) were as follows (in thousands): Tenant Origination and Above-Market Below-Market September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 September 30, 2020 December 31, 2019 Cost $ 11,222 $ 13,822 $ 213 $ 213 $ (5,393) $ (6,213) Accumulated Amortization (6,031) (6,818) (115) (93) 3,651 3,680 Net Amount $ 5,191 $ 7,004 $ 98 $ 120 $ (1,742) $ (2,533)
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities	Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and nine months ended September 30, 2020 and 2019 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Three Months Ended September 30, For the Three Months Ended September 30, For the Three Months Ended September 30, 2020 2019 2020 2019 2020 2019 Amortization $ (470) $ (627) $ (7) $ (7) $ 236 $ 308 Tenant Origination and Absorption Costs Above-Market Below-Market For the Nine Months Ended September 30, For the Nine Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 2020 2019 Amortization $ (1,559) $ (1,977) $ (22) $ (22) $ 791 $ 981

REAL ESTATE SALES (Tables)

REAL ESTATE SALES (Tables)	9 Months Ended
	Sep. 30, 2020
Discontinued Operations and Disposal Groups [Abstract]
Schedule of Revenue and Expenses of Real Estate Disposed	The following table summarizes certain revenue and expenses related to the property that was sold during the nine months ended September 30, 2020, which were included in continuing operations (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues Rental income $ — $ 572 $ 100 $ 1,682 Other operating income — 17 — 59 Total revenues $ — $ 589 $ 100 $ 1,741 Expenses Operating, maintenance, and management $ — $ 171 $ 41 $ 493 Property management fees and expenses to affiliate — 8 1 25 Real estate taxes and insurance — 77 15 226 Asset management fees to affiliate — 55 10 163 General and administrative expenses — 4 18 9 Depreciation and amortization — 130 — 414 Interest expense — 203 30 839 Total expenses $ — $ 648 $ 115 $ 2,169
Schedule of Assets and Liabilities of Properties Disposed	The following summary presents the major components of assets and liabilities related to real estate held for sale as of September 30, 2020 and December 31, 2019 (in thousands). No real estate properties were held for sale as of September 30, 2020: September 30, 2020 December 31, 2019 Assets related to real estate held for sale Total real estate, at cost $ — $ 20,602 Accumulated depreciation and amortization — (2,008) Real estate held for sale, net — 18,594 Other assets — 760 Total assets related to real estate held for sale $ — $ 19,354 Liabilities related to real estate held for sale Total notes payable, net $ — $ 13,948 Other liabilities — 1,057 Total liabilities related to real estate held for sale $ — $ 15,005

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	9 Months Ended
	Sep. 30, 2020
Notes Payable [Abstract]
Schedule of Long-term Debt Instruments	As of September 30, 2020 and December 31, 2019, the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of September 30, 2020 Book Value as of December 31, 2019 Contractual Interest Rate as of September 30, 2020 (1) Effective Interest Rate at September 30, 2020 (1) Payment Type Maturity Date (2) Commonwealth Building Mortgage Loan (3) $ 45,681 $ 45,681 One-month LIBOR + 1.80% 3.74% Interest Only 02/01/2023 Term Loan (4) 46,150 72,800 One-month LIBOR + 2.00% 4.07% Interest Only 11/09/2020 Notes payable principal outstanding $ 91,831 $ 118,481 Deferred financing costs, net (348) (620) Notes payable, net $ 91,483 $ 117,861 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of September 30, 2020. Effective interest rate is calculated as the actual interest rate in effect as of September 30, 2020 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of September 30, 2020, where applicable. (2) Represents the maturity date as of September 30, 2020; subject to certain conditions, the maturity dates of the loans may be extended beyond the dates shown. (3) As of September 30, 2020, there are two one (4) On January 17, 2020, in connection with the disposition of Von Karman Tech Center, pursuant to the terms of the Term Loan, the Company reduced the amount of the term commitment and revolving commitment to $39.4 million and $19.7 million, respectively. As of September 30, 2020, the outstanding balance under the Term Loan consisted of $39.4 million of term commitment and $6.7 million of revolving commitment. As of September 30, 2020, there were two one
Schedule of Maturities of Long-term Debt	The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of September 30, 2020 (in thousands): October 1, 2020 through December 31, 2020 (1) $ 46,150 2021 — 2022 — 2023 45,681 2024 — Thereafter — $ 91,831 _____________________ (1) Subsequent to September 30, 2020, the Company exercised its extension option under the Term Loan and extended the maturity date to November 9, 2021.

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	9 Months Ended
	Sep. 30, 2020
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Schedule of Notional and Fair Value of Interest Rate Swaps	The following table summarizes the notional amount and other information related to the Company’s interest rate swaps as of September 30, 2020 and December 31, 2019. The notional amount is an indication of the extent of the Company’s involvement in each instrument at that time, but does not represent exposure to credit, interest rate or market risks (dollars in thousands): September 30, 2020 December 31, 2019 Weighted-Average Weighted-Average Remaining Term in Years Derivative Instruments Number of Instruments Notional Amount Number of Instruments Notional Amount Reference Rate as of September 30, 2020 Derivative instruments not designated as hedging instruments Interest Rate Swaps 2 $ 78,533 2 $ 78,533 One-month LIBOR/ Fixed at 2.07% - 2.82% 2.36% 1.5
Schedule of Derivative Instruments in Statement of Financial Position, Fair Value	The following table sets forth the fair value of the Company’s derivative instruments as well as their classification on the consolidated balance sheets as of September 30, 2020 and December 31, 2019 (dollars in thousands): September 30, 2020 December 31, 2019 Derivative Instruments Balance Sheet Location Number of Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 2 $ (2,664) 2 $ (1,503)
Schedule of Derivative Instruments in Statement of Operations	The following table summarizes the effects of derivative instruments on the Company’s consolidated statements of operations (in thousands): For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Income statement related Derivatives not designated as hedging instruments Realized loss (gain) recognized on interest rate swaps $ 439 $ 21 $ 938 $ (57) Unrealized (gain) loss on interest rate swaps (420) 222 1,161 1,949 Increase in interest expense as a result of derivatives $ 19 $ 243 $ 2,099 $ 1,892

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	9 Months Ended
	Sep. 30, 2020
Fair Value Disclosures [Abstract]
Schedule of Face Value, Carrying Amounts and Fair Value	The following were the face values, carrying amounts and fair values of the Company’s notes payable as of September 30, 2020 and December 31, 2019, which carrying amounts generally do not approximate the fair values (in thousands): September 30, 2020 December 31, 2019 Face Value Carrying Amount Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 91,831 $ 91,483 $ 90,589 $ 118,481 $ 117,861 $ 119,196
Fair Value Measurements, Recurring and Nonrecurring	As of September 30, 2020, the Company measured the following derivative instruments at fair value (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Recurring Basis: Liability derivative - interest rate swaps $ (2,664) $ — $ (2,664) $ — During the nine months ended September 30, 2020, the Company measured the following asset(s) at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Nonrecurring Basis: Impaired real estate (1) $ 37,100 $ — $ — $ 37,100 Investment in unconsolidated joint venture (1) $ 528 $ — $ — $ 528 _____________________ (1) Amount represents the fair value for a real estate asset or investment in unconsolidated joint venture impacted by an impairment charge during the nine months ended September 30, 2020, as of the date that the fair value measurement was made. The carrying value for the real estate asset or investment in unconsolidated joint venture may have subsequently increased or decreased from the fair value reflected due to activity that has occurred since the measurement date.

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	9 Months Ended
	Sep. 30, 2020
Related Party Transactions [Abstract]
Schedule of Related Party Costs	Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the three and nine months ended September 30, 2020 and 2019, and any related amounts payable as of September 30, 2020 and December 31, 2019 (in thousands). Incurred Payable as of Three Months Ended September 30, Nine Months Ended September 30, December 31, 2020 2019 2020 2019 2020 2019 Expensed Asset management fees (1) $ 432 $ 483 $ 1,293 $ 1,412 $ 5,464 $ 4,171 Reimbursement of operating expenses (2) 80 49 232 139 25 29 Property management fees (3) 32 40 102 122 3 14 Disposition fees (4) — — 381 — — — Other Arrangement Advisor advance for cash distributions (5) — — — — 1,338 1,338 $ 544 $ 572 $ 2,008 $ 1,673 $ 6,830 $ 5,552 _____________________ (1) The asset management fee is a monthly fee payable to the Advisor in an amount equal to one-twelfth of 1.0% of the cost of the Company’s investments including the portion of the investment that is debt financed. As of September 30, 2020, the Company had accrued and deferred payment of $5.5 million of asset management fees related to October 2017 through September 2020. (2) See “Reimbursable Operating Expenses” below. (3) See “Real Estate Property Co-Management Agreements” below. (4) Disposition fees with respect to real estate sold are included in the gain on sale of real estate, net, in the accompanying consolidated statements of operations. (5) See “Advance from the Advisor” below.
Schedule of Annual Fee Percentage	Property Name Effective Date Annual Fee Percentage Von Karman Tech Center (1) 07/31/2015 1.50% Commonwealth Building 07/01/2016 1.25% The Offices at Greenhouse 11/14/2016 0.25% Institute Property 11/09/2017 1.00% _____________________ (1) On January 17, 2020, the Company sold Von Karman Tech Center. The Property Management Agreement for Von Karman Tech Center was terminated effective January 17, 2020.

PRO FORMA FINANCIAL INFORMATI_2

PRO FORMA FINANCIAL INFORMATION (Tables)	9 Months Ended
	Sep. 30, 2020
Disposal Group, Pro Forma Information [Abstract]
Schedule of Disposal Group, Pro Forma Information	The following unaudited pro forma information for the three and nine months ended September 30, 2020 and 2019 has been prepared to give effect the disposition of Von Karman Tech Center on January 17, 2020, as if the disposition occurred on January 1, 2019. These unaudited pro forma financial statements are prepared for informational purposes only and are not necessarily indicative of future results or of actual results that would have been achieved had the disposition of Von Karman Tech Center been consummated as of January 1, 2019 (in thousands, except share and per share amounts). For the Three Months Ended September 30, For the Nine Months Ended September 30, 2020 2019 2020 2019 Revenues $ 4,058 $ 4,773 $ 13,243 $ 13,773 Net loss $ (1,501) $ (1,148) $ (6,415) $ (5,046) Net loss per common share, basic and diluted $ (0.15) $ (0.11) $ (0.63) $ (0.51)

ORGANIZATION (Details)

ORGANIZATION (Details)	Aug. 11, 2015USD ($)shares	Sep. 30, 2020USD ($)numberOfPropertiesshares	Sep. 30, 2019USD ($)shares	Sep. 30, 2020USD ($)numberOfPropertiesshares	Sep. 30, 2019USD ($)shares	Sep. 30, 2020USD ($)numberOfPropertiesshares	Sep. 30, 2020USD ($)numberOfPropertiesshares	Dec. 31, 2019shares	Oct. 03, 2017shares	Jun. 11, 2015shares	Feb. 04, 2015USD ($)	Jan. 27, 2015$ / sharesshares
Organizational Structure [Line Items]
Core property, minimum percent of occupancy		80.00%		80.00%		80.00%	80.00%
Issuance of common stock | $		$ 63,000	$ 683,000	$ 522,000	$ 3,791,000
Redemptions of common stock | $		$ 7,000		$ 207,000	$ 21,000
Percent of total rental income from retail tenants		4.00%
Period to present liquidation plan				6 months
Class A Common Stock
Organizational Structure [Line Items]
Common stock, shares issued (in shares)		9,873,729		9,873,729		9,873,729	9,873,729	9,841,004
Class T Common Stock
Organizational Structure [Line Items]
Common stock, shares issued (in shares)		310,974		310,974		310,974	310,974	306,292
Maximum | Class A Common Stock | Second Private Placement
Organizational Structure [Line Items]
Shares authorized for issuance									1,000,000,000
Common Stock | Public Offering
Organizational Structure [Line Items]
Issuance of common stock | $							$ 3,900,000
Stock issued during period, dividend reinvestment plan | $							$ 8,500,000
Common Stock | Class A Common Stock
Organizational Structure [Line Items]
Shares authorized for dividend reinvestment plan										5,000,000
Issuance of common stock (in shares)	46,362	6,935	70,812	57,292	402,014
Issuance of common stock | $	$ 300,000		$ 1,000	$ 1,000	$ 4,000
Redemptions of common stock (in shares)		831		24,567			446,853
Redemptions of common stock | $							$ 3,800,000
Common Stock | Class A Common Stock | Private Placement
Organizational Structure [Line Items]
Issuance of common stock (in shares)						8,548,972
Issuance of common stock | $						$ 76,800,000
Stock issued during period, dividend reinvestment plan (in shares)						74,744
Stock issued during period, dividend reinvestment plan | $						$ 700,000
Common Stock | Class A Common Stock | Public Offering
Organizational Structure [Line Items]
Issuance of common stock (in shares)							122,721
Stock issued during period, dividend reinvestment plan (in shares)							883,256
Common Stock | Class A Common Stock | Second Private Offering
Organizational Structure [Line Items]
Issuance of common stock (in shares)						612,272
Issuance of common stock | $						$ 5,500,000
Common Stock | Class T Common Stock
Organizational Structure [Line Items]
Issuance of common stock (in shares)		556	3,417	4,682	10,105
Redemptions of common stock (in shares)					2,245		2,245
Common Stock | Class T Common Stock | Public Offering
Organizational Structure [Line Items]
Issuance of common stock (in shares)							270,415
Stock issued during period, dividend reinvestment plan (in shares)							41,030
Common Stock | Maximum
Organizational Structure [Line Items]
Shares authorized for issuance, value | $											$ 1,500,000,000
Shares authorized for dividend reinvestment plan | $											$ 800,000,000
Common Stock | Maximum | Class A Common Stock
Organizational Structure [Line Items]
Shares authorized for issuance										105,000,000
Office Building
Organizational Structure [Line Items]
Number of real estate properties | numberOfProperties		3		3		3	3
KBS Capital Advisors LLC
Organizational Structure [Line Items]
Common stock, shares issued (in shares)												20,000
Purchase price per share (in usd per share) | $ / shares												$ 10
KBS Growth & Income Limited Partnership
Organizational Structure [Line Items]
Managing member or general partner, ownership interest				0.10%
Members or limited partners, ownership interest				99.90%

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020numberOfPropertiesnumberOfInvestmentsnumberOfSegments
Accounting Policies [Abstract]
Number of reportable segments | numberOfSegments	1
Number of investments in unconsolidated joint venture | numberOfInvestments	1
Office Building
Real Estate Properties [Line Items]
Number of real estate properties | numberOfProperties	3

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Per Share Data (Details) - $ / shares	3 Months Ended	4 Months Ended	5 Months Ended	6 Months Ended	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	May 31, 2019	Jun. 30, 2020	Sep. 30, 2020	Sep. 30, 2019
Accounting Policies [Abstract]
Potentially dilutive securities					0	0
Class A Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distributions declared per share (in dollars per share)	$ 0.13800000				$ 0.12645000	$ 0.41236183
Distribution rate per share per day, declared (in dollars per share)		$ 0.046	$ 0.00151233	$ 0.02107500
Class T Common Stock
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Distributions declared per share (in dollars per share)	$ 0.13800000				$ 0.12645000	$ 0.41236183
Distribution rate per share per day, declared (in dollars per share)		$ 0.046	$ 0.00151233	$ 0.02107500

REAL ESTATE HELD FOR INVESTME_3

REAL ESTATE HELD FOR INVESTMENT - Additional Information (Details)	9 Months Ended
	Sep. 30, 2020USD ($)ft²numberOfProperties	Sep. 30, 2019USD ($)
Real Estate Properties [Line Items]
Impairment charges	$ 5,800,000
Lease Income
Real Estate Properties [Line Items]
Allowance for doubtful accounts	600,000	$ 500,000
Operating, Maintenance, and Management Expense
Real Estate Properties [Line Items]
Allowance for doubtful accounts	$ 0	$ (27,000)
Office Building
Real Estate Properties [Line Items]
Number of real estate properties | numberOfProperties	3
Rentable Square Feet | ft²	582,791
Occupancy	91.50%

REAL ESTATE HELD FOR INVESTME_4

REAL ESTATE HELD FOR INVESTMENT - Schedule of Real Estate Investments (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Dec. 31, 2019
Real Estate Properties [Line Items]
Total Real Estate at Cost	$ 162,812	$ 173,131
Accumulated Depreciation and Amortization	(23,109)	$ (22,688)
Total Real Estate, Net	$ 139,703
Commonwealth Building | Office Building
Real Estate Properties [Line Items]
Date Acquired	Jun. 30, 2016
Total Real Estate at Cost	$ 78,182
Accumulated Depreciation and Amortization	(13,023)
Total Real Estate, Net	$ 65,159
The Offices at Greenhouse | Office Building
Real Estate Properties [Line Items]
Date Acquired	Nov. 14, 2016
Total Real Estate at Cost	$ 47,165
Accumulated Depreciation and Amortization	(9,248)
Total Real Estate, Net	$ 37,917
Institute Property | Office Building
Real Estate Properties [Line Items]
Date Acquired	Nov. 9, 2017
Total Real Estate at Cost	$ 37,465
Accumulated Depreciation and Amortization	(838)
Total Real Estate, Net	$ 36,627

REAL ESTATE HELD FOR INVESTME_5

REAL ESTATE HELD FOR INVESTMENT - Assets Concentration Risk (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)ft²$ / ft²
Concentration Risk [Line Items]
Total Real Estate, Net	$ 139,703
Commonwealth Building | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	224,122
Total Real Estate, Net	$ 65,159
Percentage of Total Assets	44.20%
Annualized Base Rent	$ 5,585
Average Annualized Base Rent per sq. ft. | $ / ft²	28.60
Occupancy	87.10%
The Offices at Greenhouse | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	203,284
Total Real Estate, Net	$ 37,917
Percentage of Total Assets	25.70%
Annualized Base Rent	$ 4,206
Average Annualized Base Rent per sq. ft. | $ / ft²	20.69
Occupancy	100.00%
Institute Property | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	155,385
Total Real Estate, Net	$ 36,627
Percentage of Total Assets	24.90%
Annualized Base Rent	$ 3,748
Average Annualized Base Rent per sq. ft. | $ / ft²	27.78
Occupancy	86.80%

REAL ESTATE HELD FOR INVESTME_6

REAL ESTATE HELD FOR INVESTMENT - Operating Leases, Additional Information (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Operating Leased Assets [Line Items]
Recognition of deferred revenue	$ (230)	$ 447
Deferred rent receivables	2,700		$ 3,000
Unamortized lease incentives	200		200
Other liabilities, at fair value
Operating Leased Assets [Line Items]
Security deposit liability	$ 800		$ 1,100
Maximum
Operating Leased Assets [Line Items]
Remaining terms	8 years 9 months 18 days
Weighted Average
Operating Leased Assets [Line Items]
Remaining terms	3 years 2 months 12 days

REAL ESTATE HELD FOR INVESTME_7

REAL ESTATE HELD FOR INVESTMENT - Future Minimum Rental Income (Details) $ in Thousands	Sep. 30, 2020USD ($)
Real Estate [Abstract]
October 1, 2020 through December 31, 2020	$ 3,461
2021	12,718
2022	11,092
2023	8,498
2024	7,317
Thereafter	4,920
Future minimum rental income	$ 48,006

REAL ESTATE HELD FOR INVESTME_8

REAL ESTATE HELD FOR INVESTMENT - Concentration Risk (Details) $ in Millions	9 Months Ended
	Sep. 30, 2020USD ($)ft²tenantextension$ / ft²
Concentration Risk [Line Items]
Number of tenants	62
Customer Concentration Risk
Concentration Risk [Line Items]
Annualized base rent | $	$ 2.9
Average Annualized Base Rent per sq. ft. | $ / ft²	21.37
Customer Concentration Risk | Expires on December 31, 2024
Concentration Risk [Line Items]
Extension options | extension	2
Extension period	5 years
Customer Concentration Risk | Annualized Rent
Concentration Risk [Line Items]
Number of tenants	1
Concentration risk, percentage	21.00%
Customer Concentration Risk | Rentable Square Feet
Concentration Risk [Line Items]
Concentration risk, percentage	23.00%
Net rentable area | ft²	135,727

REAL ESTATE HELD FOR INVESTME_9

REAL ESTATE HELD FOR INVESTMENT - Highest Tenant Industry Concentrations - Greater than 10% of Annual Base Rent (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants	62
Professional, scientific and technical
Concentration Risk [Line Items]
Number of Tenants	9
Annualized Base Rent | $	$ 4,980
Percentage of Annualized Base Rent	36.80%
Computer system design and related services
Concentration Risk [Line Items]
Number of Tenants	2
Annualized Base Rent | $	$ 1,358
Percentage of Annualized Base Rent	10.00%

TENANT ORIGINATION AND ABSORP_3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]
Tenant Origination And Absorption Costs, Cost	$ 11,222		$ 11,222		$ 13,822
Tenant Origination and Absorption Costs, Accumulated Amortization	(6,031)		(6,031)		(6,818)
Tenant Origination and Absorption Costs, Net Amount	5,191		5,191		7,004
Tenant Origination and Absorption Costs, Amortization	(470)	$ (627)	(1,559)	$ (1,977)
Above-Market Lease Assets, Cost	213		213		213
Above-Market Lease Assets, Accumulated Amortization	(115)		(115)		(93)
Above-Market Lease Assets, Net Amount	98		98		120
Above-Market Lease Assets, Amortization	(7)	(7)	(22)	(22)
Below-Market Lease Liabilities, Cost	(5,393)		(5,393)		(6,213)
Below-Market Lease Liabilities, Accumulated Amortization	3,651		3,651		3,680
Below-Market Lease Liabilities, Net Amount	(1,742)		(1,742)		$ (2,533)
Below-Market Lease Liabilities, Amortization	$ 236	$ 308	$ 791	$ 981

REAL ESTATE SALES - Revenue and

REAL ESTATE SALES - Revenue and Expenses (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020USD ($)numberOfProperties	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)numberOfProperties	Sep. 30, 2019USD ($)
Disposed of by Sale
Revenues:
Rental income	$ 0	$ 572	$ 100	$ 1,682
Other operating income	0	17	0	59
Total revenues	0	589	100	1,741
Expenses
Operating, maintenance, and management	0	171	41	493
Property management fees and expenses to affiliate	0	8	1	25
Real estate taxes and insurance	0	77	15	226
Asset management fees to affiliate	0	55	10	163
General and administrative expenses	0	4	18	9
Depreciation and amortization	0	130	0	414
Interest expense	0	203	30	839
Total expenses	$ 0	$ 648	$ 115	$ 2,169
Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | numberOfProperties	0		0
Office Building
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties sold | numberOfProperties			1
Number of real estate properties | numberOfProperties	3		3

REAL ESTATE SALES - Assets and

REAL ESTATE SALES - Assets and Liabilities (Details) $ in Thousands	Sep. 30, 2020USD ($)numberOfProperties	Dec. 31, 2019USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Real estate held for sale, net	$ 0	$ 18,594
Total notes payable, net	$ 0	13,948
Held-for-Sale
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Number of real estate properties | numberOfProperties	0
Total real estate, at cost	$ 0	20,602
Accumulated depreciation and amortization	0	(2,008)
Real estate held for sale, net	0	18,594
Other assets	0	760
Total assets related to real estate held for sale	0	19,354
Total notes payable, net	0	13,948
Other liabilities	0	1,057
Total liabilities related to real estate held for sale	$ 0	$ 15,005

INVESTMENT IN UNCONSOLIDATED _2

INVESTMENT IN UNCONSOLIDATED JOINT VENTURE (Details) $ in Thousands	Oct. 05, 2020USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2020USD ($)	Sep. 30, 2019USD ($)	Dec. 31, 2019USD ($)	Jun. 28, 2019USD ($)ft²numberOfProperties
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint venture		$ 464		$ 464		$ 1,000
Investment in an unconsolidated joint venture				0	$ 935
Equity in (loss) income of unconsolidated joint venture		$ (402)	$ 13	(837)	13
Impairment charges				$ 5,800
210 W. Chicago | Office Building
Schedule of Equity Method Investments [Line Items]
Period following expiration of negotiation				120 days
Percent of unreturned capital contributions as sale price of membership interest		125.00%		125.00%
210 W. Chicago | Office Building | KBS Growth & Income REIT, Inc.
Schedule of Equity Method Investments [Line Items]
Ownership percentage		50.00%		50.00%
JV Partner | 210 W. Chicago | Office Building
Schedule of Equity Method Investments [Line Items]
Number of real estate properties acquired | numberOfProperties							1
Net rentable area | ft²							16,239
Area of land | ft²							8,072
Investment in unconsolidated joint venture							$ 5,400
Current borrowing capacity							$ 3,800
Ownership percentage		50.00%		50.00%
Estimated loss) due to obligation to satisfy put option to JV agreement		$ 300
JV Partner | 210 W. Chicago | Office Building | Subsequent Event
Schedule of Equity Method Investments [Line Items]
Membership interest acquired	50.00%
Investment in an unconsolidated joint venture	$ 1,100
Equity Method Investee | 210 W. Chicago | Office Building
Schedule of Equity Method Investments [Line Items]
Investment in unconsolidated joint venture		500		$ 500
Equity in (loss) income of unconsolidated joint venture		(400)	$ 13	(800)	$ 13
Impairment charges				500
Obligation to satisfy JV partner’s put option		$ 1,100		$ 1,100

NOTES PAYABLE - Schedule of Lon

NOTES PAYABLE - Schedule of Long-term Debt Instruments (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2020USD ($)extension	Jan. 17, 2020USD ($)	Dec. 31, 2019USD ($)
Debt Instrument [Line Items]
Notes payable principal outstanding	$ 91,831		$ 118,481
Deferred financing costs, net	(348)		(620)
Notes payable, net	91,483		117,861
Mortgage | Commonwealth Building Mortgage Loan
Debt Instrument [Line Items]
Notes payable principal outstanding	$ 45,681		45,681
Effective Interest Rate	3.74%
Number of extensions | extension	2
Extension period	1 year
Amount outstanding	$ 45,700
Unused borrowing capacity, amount	$ 5,700
Mortgage | Commonwealth Building Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	1.80%
Secured Debt | Term Loan
Debt Instrument [Line Items]
Notes payable principal outstanding	$ 46,150		$ 72,800
Effective Interest Rate	4.07%
Number of extensions | extension	2
Extension period	1 year
Amount outstanding	$ 39,400	$ 39,400
Secured Debt | Term Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate	2.00%
Secured Debt | Term Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Amount outstanding	$ 6,700	$ 19,700

NOTES PAYABLE - Additional Info

NOTES PAYABLE - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Notes Payable [Abstract]
Interest expense	$ 607	$ 1,596	$ 4,344	$ 6,054
Interest payable, current	300		300		$ 400
Amortization of deferred financing costs	100	100	243	267
Interest Rate Swaps
Derivative [Line Items]
Unrealized gain (loss) on derivatives	$ 19	$ 200	$ 2,100	$ 1,900

NOTES PAYABLE - Schedule of Mat

NOTES PAYABLE - Schedule of Maturities of Long-Term Debt (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Notes Payable [Abstract]
October 1, 2020 through December 31, 2020	$ 46,150
2021	0
2022	0
2023	45,681
2024	0
Thereafter	0
Total notes payable, net	$ 91,831	$ 118,481

DERIVATIVE INSTRUMENTS - Notion

DERIVATIVE INSTRUMENTS - Notional Amount (Details) - Derivative instruments not designated as hedging instruments - Interest Rate Swaps	9 Months Ended
	Sep. 30, 2020USD ($)numberOfInvestments	Dec. 31, 2019USD ($)numberOfInvestments
Derivative [Line Items]
Number of Instruments | numberOfInvestments	2	2
Notional Amount | $	$ 78,533,000	$ 78,533,000
Weighted-Average Fix Pay Rate	2.36%
Weighted-Average Remaining Term in Years	1 year 6 months
Minimum | One-month LIBOR
Derivative [Line Items]
Reference Rate	2.07%
Maximum | One-month LIBOR
Derivative [Line Items]
Reference Rate	2.82%

DERIVATIVE INSTRUMENTS - Balanc

DERIVATIVE INSTRUMENTS - Balance Sheet (Details) - Derivative instruments not designated as hedging instruments - Interest Rate Swaps $ in Thousands	Sep. 30, 2020USD ($)numberOfInvestments	Dec. 31, 2019USD ($)numberOfInvestments
Derivative [Line Items]
Number of Instruments	2	2
Other liabilities, at fair value
Derivative [Line Items]
Number of Instruments	2	2
Liability, Fair Value | $	$ (2,664)	$ (1,503)

DERIVATIVE INSTRUMENTS - Statem

DERIVATIVE INSTRUMENTS - Statement of Operations (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Interest Rate Swaps
Derivative [Line Items]
Unrealized (gain) loss on interest rate swaps	$ (19)	$ (200)	$ (2,100)	$ (1,900)
Derivative instruments not designated as hedging instruments
Derivative [Line Items]
Increase in interest expense as a result of derivatives	19	243	2,099	1,892
Derivative instruments not designated as hedging instruments | Interest Rate Swaps
Derivative [Line Items]
Realized loss (gain) recognized on interest rate swaps	439	21	938	(57)
Unrealized (gain) loss on interest rate swaps	$ (420)	$ 222	$ 1,161	$ 1,949

FAIR VALUE DISCLOSURES - Carryi

FAIR VALUE DISCLOSURES - Carrying Amounts of Notes Payable (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Face Value	$ 91,831	$ 118,481
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	91,483	117,861
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	$ 90,589	$ 119,196

FAIR VALUE DISCLOSURES - Schedu

FAIR VALUE DISCLOSURES - Schedule of Assets and Liabilities at Fair Value (Details) - USD ($) $ in Thousands	Sep. 30, 2020	Dec. 31, 2019
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Investment in unconsolidated joint venture	$ 464	$ 1,000
Recurring Basis | Interest Rate Swaps
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	(2,664)
Recurring Basis | Interest Rate Swaps | Quoted Prices in Active Markets  for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	0
Recurring Basis | Interest Rate Swaps | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	(2,664)
Recurring Basis | Interest Rate Swaps | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	0
Nonrecurring Basis
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	37,100
Investment in unconsolidated joint venture	528
Nonrecurring Basis | Quoted Prices in Active Markets  for Identical Assets (Level 1)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	0
Investment in unconsolidated joint venture	0
Nonrecurring Basis | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	0
Investment in unconsolidated joint venture	0
Nonrecurring Basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	37,100
Investment in unconsolidated joint venture	$ 528

FAIR VALUE DISCLOSURES - Additi

FAIR VALUE DISCLOSURES - Additional Information (Details)	Sep. 30, 2020
Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired real estate, measurement input	7.50%
Investment in unconsolidated joint venture, measurement input	10.00%
Terminal Cap Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired real estate, measurement input	6.25%
Investment in unconsolidated joint venture, measurement input	6.75%

RELATED PARTY TRANSACTIONS - Ad

RELATED PARTY TRANSACTIONS - Additional Information (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019	Nov. 01, 2019
Related Party Transaction [Line Items]
Payment for administrative fees	$ 80	$ 49	$ 232	$ 139
Limit of total operating expenses as a percent of net income for the four most recently completed fiscal quarters	2.00%		2.00%
Limit of total operating expenses as a percent of average invested assets	25.00%		25.00%
Due to affiliates	$ 6,830		$ 6,830		$ 5,552
Private Placement
Related Party Transaction [Line Items]
Other organization and offering costs	1,500		1,500
KBS Capital Advisors LLC | Public Offering
Related Party Transaction [Line Items]
Offering costs, other than selling commissions and dealer manager fees	4,400		4,400
Organization and offering costs	$ 39		$ 39
KBS Capital Advisors LLC | Public Offering | Minimum
Related Party Transaction [Line Items]
Reimbursable offering costs determination, gross offering costs, percentage	1.00%		1.00%
KBS Capital Advisors LLC | Public Offering | Maximum
Related Party Transaction [Line Items]
Reimbursable offering costs determination, gross offering costs, percentage	1.00%		1.00%
KBS Capital Advisors LLC | Second Private Placement
Related Party Transaction [Line Items]
Amounts of transaction			$ 5,500
KBS Capital Advisors LLC | GKP Holding LLC
Related Party Transaction [Line Items]
Ownership percentage						33.33%
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Due to affiliates	$ 6,830		6,830		5,552
Amounts of transaction	544	572	2,008	1,673
Advisor and Dealer Manager | Advisor advance for cash distributions
Related Party Transaction [Line Items]
Due to affiliates	1,338		1,338		$ 1,338
Amounts of transaction	$ 0	$ 0	$ 0	$ 0

RELATED PARTY TRANSACTIONS - Re

RELATED PARTY TRANSACTIONS - Related-party Costs (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019	Dec. 31, 2019
Related Party Transaction [Line Items]
Payable as of	$ 6,830		$ 6,830		$ 5,552
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Incurred	544	$ 572	2,008	$ 1,673
Payable as of	6,830		6,830		5,552
Advisor and Dealer Manager | Asset management fees
Related Party Transaction [Line Items]
Expenses	432	483	1,293	1,412
Payable as of	5,464		5,464		4,171
Advisor and Dealer Manager | Reimbursement of operating expenses
Related Party Transaction [Line Items]
Expenses	80	49	232	139
Payable as of	25		25		29
Advisor and Dealer Manager | Property management fees
Related Party Transaction [Line Items]
Expenses	32	40	102	122
Payable as of	3		3		14
Advisor and Dealer Manager | Disposition fees
Related Party Transaction [Line Items]
Expenses	0	0	381	0
Payable as of	0		0		0
Advisor and Dealer Manager | Advisor advance for cash distributions
Related Party Transaction [Line Items]
Incurred	0	$ 0	0	$ 0
Payable as of	$ 1,338		$ 1,338		$ 1,338
KBS Capital Advisors LLC | Cost of Investments
Related Party Transaction [Line Items]
Property management fee, percent fee			1.00%

RELATED PARTY TRANSACTIONS - _2

RELATED PARTY TRANSACTIONS - Real Estate Property Co-Management Agreements (Details) - KBS Management Group, LLC	9 Months Ended
	Sep. 30, 2020
Related Party Transaction [Line Items]
Initial term of management agreements	1 year
Successive periods, renewal	1 year
Period of termination notice	30 days
Period of termination notice with cause	5 days
Von Karman Tech Center
Related Party Transaction [Line Items]
Annual fee percentage	1.50%
Commonwealth Building
Related Party Transaction [Line Items]
Annual fee percentage	1.25%
The Offices at Greenhouse
Related Party Transaction [Line Items]
Annual fee percentage	0.25%
Institute Property
Related Party Transaction [Line Items]
Annual fee percentage	1.00%

PRO FORMA FINANCIAL INFORMATI_3

PRO FORMA FINANCIAL INFORMATION (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2020	Sep. 30, 2019	Sep. 30, 2020	Sep. 30, 2019
Disposal Group, Pro Forma Information [Abstract]
Revenues	$ 4,058	$ 4,773	$ 13,243	$ 13,773
Net loss	$ (1,501)	$ (1,148)	$ (6,415)	$ (5,046)
Net loss per common share, basic and diluted (in dollars per share)	$ (0.15)	$ (0.11)	$ (0.63)	$ (0.51)

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Nov. 10, 2020$ / shares
Subsequent Event | Dividend Declared
Subsequent Event [Line Items]
Distributions declared per share (in dollars per share)	$ 0.04215000