KBS Growth & Income REIT (KBSG) 10-K 31 Mar 22 2021 FY Annual report Financial data

Cover Page

Cover Page - USD ($)	12 Months Ended
	Dec. 31, 2021	Mar. 28, 2022	Jun. 30, 2021
Entity Information [Line Items]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2021
Current Fiscal Year End Date	--12-31
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
Entity Address, Address Line Two	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 Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	true
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	false
Entity Shell Company	false
Entity Central Index Key	0001631256
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	FY
Amendment Flag	false
Entity Public Float			$ 0
Class A common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		9,851,052
Class T common stock
Entity Information [Line Items]
Entity Common Stock, Shares Outstanding		310,974

Audit Information

Audit Information	12 Months Ended
	Dec. 31, 2021
Audit Information [Abstract]
Auditor Name	Ernst & Young LLP
Auditor Location	Irvine, California
Auditor Firm ID	42

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Real estate:
Land	$ 19,822	$ 21,353
Buildings and improvements	110,582	134,931
Tenant origination and absorption costs	7,873	11,068
Total real estate, cost	138,277	167,352
Less accumulated depreciation and amortization	(15,101)	(24,716)
Total real estate, net	123,176	142,636
Cash and cash equivalents	7,882	3,807
Restricted cash	247	552
Rents and other receivables	4,284	2,936
Above-market leases, net	72	92
Due from affiliates	276	0
Prepaid expenses and other assets	2,218	1,555
Total assets	138,155	151,578
Liabilities and stockholders’ equity
Notes payable, net	101,454	96,623
Accounts payable and accrued liabilities	3,825	2,189
Due to affiliates	9,006	7,275
Below-market leases, net	838	1,509
Other liabilities	1,982	4,142
Total liabilities	117,105	111,738
Commitments and contingencies (Note 10)
Redeemable common stock	250	250
Stockholders’ equity:
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding	0	0
Additional paid-in capital	85,158	85,248
Cumulative distributions and net losses	(64,460)	(45,760)
Total stockholders’ equity	20,800	39,590
Total liabilities and stockholders’ equity	138,155	151,578
Class A common stock
Stockholders’ equity:
Common stock	99	99
Class T common stock
Stockholders’ equity:
Common stock	$ 3	$ 3

CONSOLIDATED BALANCE SHEETS (Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2021	Dec. 31, 2020
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
Common stock, shares outstanding (in shares)	9,855,330	9,873,729
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
Common stock, shares outstanding (in shares)	310,974	310,974

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Revenues:
Rental income	$ 16,099,000	$ 17,892,000	$ 20,621,000
Other operating income	177,000	160,000	291,000
Total revenues	16,276,000	18,052,000	20,912,000
Expenses:
Operating, maintenance, and management	3,926,000	3,829,000	4,664,000
Property management fees and expenses to affiliate	114,000	136,000	165,000
Real estate taxes and insurance	2,899,000	2,672,000	2,946,000
Asset management fees to affiliate	1,740,000	1,729,000	1,898,000
General and administrative expenses	1,509,000	2,307,000	1,755,000
Depreciation and amortization	7,536,000	8,104,000	8,660,000
Interest expense	2,343,000	4,965,000	7,032,000
Impairment charges on real estate	13,164,000	5,750,000	0
Total expenses	33,231,000	29,492,000	27,120,000
Other income (loss):
Interest and other income	0	14,000	61,000
Gain on sale of real estate, net	0	5,245,000	0
Equity in (loss) income of unconsolidated joint venture	0	(827,000)	45,000
Loss from extinguishment of debt	0	(29,000)	0
Total other income	0	4,403,000	106,000
Net loss	$ (16,955,000)	$ (7,037,000)	$ (6,102,000)
Net loss per common share, basic (in dollars per share)	$ (1.67)	$ (0.69)	$ (0.61)
Net loss per common share, diluted (in dollars per share)	$ (1.67)	$ (0.69)	$ (0.61)
Weighted-average number of common shares outstanding, basic (in shares)	10,173,891	10,181,003	9,978,325
Weighted-average number of common shares outstanding, diluted (in shares)	10,173,891	10,181,003	9,978,325

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY - USD ($) $ in Thousands	Total	Class A	Class T	Common StockClass A	Common StockClass T	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	(6,102)						(6,102)
Issuance of common stock (in shares)				454,096	13,574
Issuance of common stock	4,302			$ 4		4,298
Redemptions of common stock (in shares)					(2,245)
Redemptions of common stock	(21)					(21)
Distributions declared	(5,492)						(5,492)
Balance (in shares) at Dec. 31, 2019				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	(7,037)						(7,037)
Issuance of common stock (in shares)				57,292	4,682
Issuance of common stock	522			$ 1		521
Transfers from redeemable common stock	750					750
Redemptions of common stock (in shares)				(24,567)
Redemptions of common stock	(207)					(207)
Distributions declared	(1,716)						(1,716)
Balance (in shares) at Dec. 31, 2020		9,873,729	310,974	9,873,729	310,974
Balance at Dec. 31, 2020	39,590			$ 99	$ 3	85,248	(45,760)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net loss	(16,955)						(16,955)
Redemptions of common stock (in shares)				(18,399)	0
Redemptions of common stock	(90)			$ 0		(90)
Distributions declared	(1,745)						(1,745)
Balance (in shares) at Dec. 31, 2021		9,855,330	310,974	9,855,330	310,974
Balance at Dec. 31, 2021	$ 20,800			$ 99	$ 3	$ 85,158	$ (64,460)

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Cash Flows from Operating Activities:
Net loss	$ (16,955,000)	$ (7,037,000)	$ (6,102,000)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	7,536,000	8,104,000	8,660,000
Impairment charges on real estate	13,164,000	5,750,000	0
Equity in (loss) income of unconsolidated joint venture	0	827,000	(45,000)
Deferred rents	262,000	346,000	(576,000)
Amortization of above- and below-market leases, net	(651,000)	(996,000)	(1,248,000)
Amortization of deferred financing costs	237,000	309,000	357,000
Unrealized (gain) loss on derivative instruments	(1,629,000)	735,000	1,595,000
Loss from extinguishment of debt	0	29,000	0
Gain on sale of real estate, net	0	(5,245,000)	0
Changes in operating assets and liabilities:
Rents and other receivables	(1,704,000)	(57,000)	(226,000)
Prepaid expenses and other assets	(1,158,000)	(153,000)	(482,000)
Accounts payable and accrued liabilities	1,609,000	(191,000)	(229,000)
Due from affiliates	(276,000)	0	0
Due to affiliates	1,731,000	1,723,000	1,911,000
Other liabilities	(446,000)	(315,000)	419,000
Net cash provided by operating activities	1,720,000	3,829,000	4,034,000
Cash Flows from Investing Activities:
Proceeds from sale of real estate	0	23,603,000	0
Improvements to real estate	(709,000)	(1,298,000)	(3,944,000)
Investment in unconsolidated joint venture	0	0	(955,000)
Purchase of joint venture partner’s equity interest, net of cash acquired	0	(858,000)	0
Escrow deposit received for future real estate sale	0	0	1,000,000
Reimbursement from unconsolidated joint venture	0	3,000	0
Net cash (used in) provided by investing activities	(709,000)	21,450,000	(3,899,000)
Cash Flows from Financing Activities:
Proceeds from notes payable	4,710,000	1,400,000	681,000
Principal payments on notes payable	(37,000)	(26,650,000)	0
Payments of deferred financing costs	(79,000)	(89,000)	0
Proceeds from issuance of common stock	0	0	2,476,000
Payments to redeem common stock	(90,000)	(207,000)	(21,000)
Distributions paid to common stockholders	(1,745,000)	(1,661,000)	(3,632,000)
Net cash provided by (used in) financing activities	2,759,000	(27,207,000)	(496,000)
Net increase (decrease) in cash and cash equivalents and restricted cash	3,770,000	(1,928,000)	(361,000)
Cash and cash equivalents and restricted cash, beginning of period	4,359,000	6,287,000	6,648,000
Cash and cash equivalents and restricted cash, end of period	8,129,000	4,359,000	6,287,000
Supplemental Disclosure of Cash Flow Information:
Interest paid	3,807,000	4,009,000	5,090,000
Supplemental Disclosure of Noncash Investing and Financing Activities:
Distributions payable	0	0	467,000
Accrued improvements to real estate	127,000	100,000	460,000
Dividends paid to common stockholders through common stock issuances pursuant to the distribution reinvestment plan	0	522,000	1,826,000
Real estate consolidated in connection with joint venture purchase	0	4,780,000	0
Other assets consolidated in connection with joint venture purchase	0	64,000	0
Note payable assumed in connection with joint venture purchase	0	3,763,000	0
Note payable assumed in connection with joint venture purchase	$ 0	$ 53,000	$ 0

ORGANIZATION

ORGANIZATION	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021, the Company had invested in four office properties. 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 commenced capital raising activities in June 2015 through a private placement offering. The private offering was followed by a public offering and a second private offering. In August 2020, the Company’s board of directors approved the termination of capital raising activities with the termination of the Company’s distribution reinvestment plan offering and second private offering. As of December 31, 2021, the Company had 9,855,330 and 310,974 Class A and Class T shares outstanding, respectively. 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. From March 2020 through December 31, 2021, 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 at the Institute Property and 210 W. Chicago during the year ended December 31, 2020 and at the Commonwealth Building during the year ended December 31, 2021. For more information, see Note 4, “Real Estate - Impairment of Real Estate”. In addition, reductions in property values related to the impact of the COVID-19 pandemic have reduced the Company’s availability to draw on the revolving commitment. 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 7% of its annualized base rent, have been more severely impacted by the COVID-19 pandemic than its office tenants. As of December 31, 2021, the Company has granted approximately $0.2 million of rent deferrals and approximately $0.7 million in rental abatements. 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 and the Company’s implementation of a Plan of Liquidation (defined below) if approved by the stockholders 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. Plan of Liquidation The Company’s board of directors and a special committee composed of all of the Company’s independent directors (the “Special Committee”) has undertaken a review of various strategic alternatives available to the Company and expects to approve the sale of all of the Company’s assets and the Company’s dissolution pursuant to the terms of a plan of complete liquidation and dissolution (a “Plan of Liquidation”). Once approved by the Company’s board of directors, a Plan of Liquidation will be submitted to the Company’s stockholders for approval. The Company currently expects to send out a proxy statement to its stockholders for a liquidation vote by the end of May 2022, with a stockholder meeting to approve the Plan of Liquidation to be held within 90 days. The principal purpose of a Plan of Liquidation will be to provide liquidity to the Company’s stockholders by selling the Company’s assets, paying its debts and distributing the net proceeds from liquidation to the Company’s stockholders. Although this is the current intention of the Company’s board of directors, the Company can provide no assurances as to the ultimate approval of a Plan of Liquidation or the timing of the liquidation of the Company. If the Company’s board of directors and stockholders approve a Plan of Liquidation, the Company intends to pursue an orderly liquidation of its company by selling all of its remaining assets, paying its debts and its known liabilities, providing for the payment of unknown or contingent liabilities, distributing the net proceeds from liquidation to the Company’s stockholders and winding up its operations and dissolving its company. In the interim, the Company intends to continue to manage its portfolio of assets to maintain and, if possible, improve the quality and income-producing ability of its properties to enhance property stability and better position the Company’s assets for a potential sale. A Plan of Liquidation remains subject to approval by the Company’s board of directors and the Company’s stockholders and the Company can give no assurance regarding the timing of the liquidation of the Company. Additional information regarding a Plan of Liquidation will be provided to the Company’s stockholders in a proxy statement to be distributed to stockholders in connection with a liquidation vote.

GOING CONCERN

GOING CONCERN	12 Months Ended
	Dec. 31, 2021
Organization, Consolidation and Presentation of Financial Statements [Abstract]
GOING CONCERN	GOING CONCERNThe consolidated financial statements have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) on the basis that the Company will continue as a going concern, which assumes that the Company will be able to meet its obligations and continue its operations one year from the date the consolidated financial statements are issued. The Company has experienced a decline in occupancy from 90.4% as of December 31, 2020 to 75.3% as of December 31, 2021 and such occupancy may continue to decrease in the future as tenant leases expire. The decrease in occupancy has resulted in a decrease in cash flow from operations and has negatively impacted the market values of the properties. Additionally, the Company has two loans with an aggregate principal balance of $97.9 million maturing within one year from the date the consolidated financial statements are issued. Due to the decrease in occupancies and a decrease in market values of the properties securing these two loans, the Company may be unable to extend or refinance the upcoming loan maturities at current terms and may be required to paydown a portion of the maturing debt in order to extend or refinance the loans. With the Company’s limited amount of cash on hand, the Company’s ability to make any loan paydowns, without the sale of real estate assets, is severely limited. Additionally, in order to attract or retain tenants needed to increase occupancy and sustain operations, the Company will need to spend a substantial amount on capital leasing costs, however, the Company has limited amounts of liquidity to make these capital commitments. These conditions raise substantial doubt about the Company’s ability to continue as a going concern. The consolidated financial statements do not include any adjustments to reflect the outcome of these uncertainties. The Company’s ability to continue as a going concern is dependent upon the Company’s ability to exercise its extension option or refinance loans maturing over the next 12 months. No assurances can be given that the Company will be successful in achieving these objectives. In addition, as described in Note 1, “Organization – Plan of Liquidation”, if the Company’s board of directors and its stockholders approve a Plan of Liquidation, the Company intends to pursue an orderly liquidation of its company by selling all of its remaining assets, paying its debts and its known liabilities, providing for the payment of unknown or contingent liabilities, distributing the net proceeds from liquidation to the Company’s stockholders and winding up its operations and dissolving its company.

SUMMARY OF SIGNIFICANT ACCOUNTI

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES Principles of Consolidation and Basis of Presentation 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. The accompanying consolidated financial statements and notes thereto have been prepared in accordance with GAAP as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC. 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. Revenue Recognition - Operating Leases Real Estate On January 1, 2019, the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations. In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations. The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and variable lease payments and would recognize rental income only if cash is received. These changes to the Company’s collectibility assessment are reflected as an adjustment to rental income. The Company, as a lessor, records costs to negotiate or arrange a lease that would have been incurred regardless of whether the lease was obtained, such as legal costs incurred to negotiate an operating lease, as an expense and classifies such costs as operating, maintenance, and management expense on the Company’s consolidated statement of operations, as these costs are no longer capitalizable under the definition of initial direct costs under Topic 842. Sales of Real Estate The Company follows the guidance of ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”) , which applies to sales or transfers to noncustomers of nonfinancial assets or in substance nonfinancial assets that do not meet the definition of a business. Generally, the Company’s sales of real estate would be considered a sale of a nonfinancial asset as defined by ASC 610-20. ASC 610-20 refers to the revenue recognition principles under ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606). Under ASC 610-20, if the Company determines it does not have a controlling financial interest in the entity that holds the asset and the arrangement meets the criteria to be accounted for as a contract, the Company would derecognize the asset and recognize a gain or loss on the sale of the real estate when control of the underlying asset transfers to the buyer. Cash and Cash Equivalents The Company recognizes interest income on its cash and cash equivalents as it is earned and classifies such amounts as other interest income. Real Estate Depreciation and Amortization Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods Real Estate Acquisition Valuation The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination or an asset acquisition. If substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or group of similar identifiable assets, then the set is not a business. For purposes of this test, land and buildings can be combined along with the intangible assets for any in-place leases and accordingly, most acquisitions of investment properties would not meet the definition of a business and would be accounted for as an asset acquisition. To be considered a business, a set must include an input and a substantive process that together significantly contributes to the ability to create an output. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. For asset acquisitions, the cost of the acquisition is allocated to individual assets and liabilities on a relative fair value basis. Acquisition costs associated with business combinations are expensed as incurred. Acquisition costs associated with asset acquisitions are capitalized. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods. The Company amortizes the value of tenant origination and absorption costs to depreciation and amortization expense over the remaining non-cancelable term of the leases. Impairment of Real Estate and Related Intangible Assets and Liabilities The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. During the years ended December 31, 2021 and 2020, the Company recorded $13.2 million and $5.8 million, respectively, of impairment losses on its real estate and related intangible assets. See Note 4, “Real Estate - Impairment of Real Estate.” The Company did not record any impairment loss on its real estate and related intangible assets during the year ended December 31, 2019. Real Estate Held for Sale The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results of properties and related gains on sales of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeds federally insurable limits as of December 31, 2021. The Company intends to mitigate this risk by depositing funds with a major financial institution; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2021. Restricted Cash Restricted cash is composed of lender impound reserve accounts related to the Company’s borrowings. Rents and Other Receivables The Company makes a determination of whether the collectibility of the lease payments in its operating leases is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any outstanding rent receivables related to contractual lease payments and variable leases payments and write-off any deferred rent receivable and would recognize rental income only if cash is received. The Company exercises judgment in assessing collectibility and considers payment history, current credit status, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current market conditions that may impact the tenant’s ability to make payments in accordance with its lease agreements, including the impact of the COVID-19 pandemic on the tenant’s business, in making the determination. 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 on its variable rate notes payable. The Company records these derivative instruments at fair value on the accompanying consolidated balance sheets. The changes in fair value for derivative instruments that are not designated as a hedge or that do not meet the hedge accounting criteria are recorded as gain or loss on derivative instruments and included in interest expense as presented in the accompanying consolidated statements of operations. Deferred Financing Costs Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close. Fair Value Measurements 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 is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The 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. When available, the Company utilizes quoted market prices from independent third-party sources to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument. The Company considers the following factors to be indicators of an inactive market: (i) there are few recent transactions, (ii) price quotations are not based on current information, (iii) price quotations vary substantially either over time or among market makers (for example, some brokered markets), (iv) indexes that previously were highly correlated with the fair values of the asset or liability are demonstrably uncorrelated with recent indications of fair value for that asset or liability, (v) there is a significant increase in implied liquidity risk premiums, yields, or performance indicators (such as delinquency rates or loss severities) for observed transactions or quoted prices when compared with the Company’s estimate of expected cash flows, considering all available market data about credit and other nonperformance risk for the asset or liability, (vi) there is a wide bid-ask spread or significant increase in the bid-ask spread, (vii) there is a significant decline or absence of a market for new issuances (that is, a primary market) for the asset or liability or similar assets or liabilities, and (viii) little information is released publicly (for example, a principal-to-principal market). The Company considers the following factors to be indicators of non-orderly transactions: (i) there was not adequate exposure to the market for a period before the measurement date to allow for marketing activities that are usual and customary for transactions involving such assets or liabilities under current market conditions, (ii) there was a usual and customary marketing period, but the seller marketed the asset or liability to a single market participant, (iii) the seller is in or near bankruptcy or receivership (that is, distressed), or the seller was required to sell to meet regulatory or legal requirements (that is, forced), and (iv) the transaction price is an outlier when compared with other recent transactions for the same or similar assets or liabilities. Redeemable Common Stock The Company has a share redemption program pursuant to which stockholders may sell their shares to the Company only in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined in the share redemption program, and collectively “special redemptions”). Such redemption are subject to the limitations described in the share redemption program document, including: • During each calendar year, special redemptions are limited to an annual dollar amount determined by the board of directors, which may be reviewed during the year and increased or decreased upon ten • During any calendar year, the Company may redeem no more than 5% of the weighted-average number of shares outstanding during the prior calendar year. • The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. Special redemptions are redeemed at a price equal to the most recent estimated NAV per share as of the applicable redemption date. The Company does not expect to have funds available for ordinary redemptions in the future. On December 7, 2018, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $9.20 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2018. The change in the redemption price was effective for the December 2018 through November 2019 redemption dates. On December 4, 2019, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $8.43 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2019. The change in the redemption price was effective for the December 2019 through November 2020 redemption dates. On December 7, 2020, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $4.90 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2020. The change in the redemption price was effective for the December 2020 through November 2021 redemption dates. On December 6, 2021, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.38 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2021. The change in the redemption price became effective for the December 2021 redemption date, which was December 31, 2021, and will be effective until the estimated value per share is updated. The Company records amounts that are redeemable under the share redemption program as redeemable common stock liability in its consolidated balance sheets because the shares will be mandatorily redeemable at the option of the holder and therefore their redemption is outside the control of the Company. Commencing January 1, 2019, the maximum amount redeemable under the Company’s share redemption program during a calendar year is limited to an annual dollar amount determined by the board of directors, which was $1.0 million for the year ended December 31, 2019, and was initially set at $1.0 million for the year ended December 31, 2020. On August 5, 2020, the board of directors established a new dollar amount limitation under the Company’s share redemption program for the remainder of the calendar year 2020 of $200,000. On December 7, 2020, the Company’s board of directors approved a new annual dollar amount limitation for special redemptions for calendar year 2021 of $250,000 in the aggregate. On December 6, 2021, the Company’s board of directors approved the same annual dollar amount limitation for special redemptions for calendar year 2022 of $250,000 in the aggregate, as may be reviewed and adjusted from time to time by the board of directors. However, because the amounts that can be redeemed are determinable and only contingent on an event that is likely to occur (e.g., the passage of time), the Company presents the amounts available for redemptions in future periods as redeemable common stock in the accompanying balance sheets. The Company will classify as liabilities financial instruments that represent a mandatory obligation of the Company to redeem shares. The Company’s redeemable common shares are contingently redeemable at the option of the holder. When the Company determines it has a mandatory obligation to repurchase shares under the share redemption program, it will reclassify such obligations from temporary equity to a liability based upon their respective settlement values. Related Party Transactions Pursuant to the Advisory Agreement, the Company is obligated to pay the Advisor specified fees upon the provision of certain services related to the management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is also obligated to reimburse the Advisor for 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. See Note 9, “Related Party Transactions.” In addition, the Advisor has paid all offering expenses related to the second private offering the Company conducted without reimbursement by the Company. In addition, in connection with property acquisitions, the Company, through indirect wholly owned subsidiaries, has entered into separate property management agreements (each, a “Property Management Agreement”) with KBS Management Group, LLC (the “Co-Manager”), an affiliate of the Advisor. The Company records all related party fees as incurred, subject to any limitations described in the respective agreements. The Company had not incurred any disposition fees, subordinated participation in net cash flows or subordinated incentive fees payable to the Advisor through December 31, 2021. Asset Management Fee The Company pays the Advisor a monthly asset management fee equal to one-twelfth of 1.0% of the cost of the real property investments, including any debt financing on the property. The cost of the real property investments is calculated as the amount paid or allocated to acquire the real property, plus budgeted capital improvement costs for the development, construction or improvements to the property once such funds are disbursed pursuant to a final approved budget and typical third-party expenses related to the acquisition. Property Management Fee The Company pays the Co-Manager a monthly fee equal to a percentage of the rent (determined on a property by property basis), payable and actually collected for the month, from certain property acquisitions for which the Company has entered a Property Management Agreement with the Co-Manager. See Note 9, “Related-Party Transactions — Real Estate Property Co-Management Agreements.” Disposition Fee For substantial assistance in connection with the sale of the Company’s assets, which includes the sale of a single asset or the sale of all or a portion of the Company’s assets through a portfolio sale, merger or business combination transaction, the Company will pay the Advisor or its affiliates a percentage of the contract sales price of the assets sold. The disposition fee will equal 1.5% of the contract sales price. The disposition fee is determined on a per transaction basis and is not cumulative. The Advisor has agreed to waive the receipt of a disposition fee in connection with the sale of the assets of the Company in connection with a Plan of Liquidation. Reimbursement of Operating Expenses The Company reimburses the Advisor for the following expenses it incurs in connection with providing services to the Company under the Advisory Agreement: the Company’s allocable portion of the costs of internal audit department personnel and promotional costs and expenses related to the leasing of properties. The Company reimbursed the Dealer Manager for certain fees and expenses it incurred for administering the Company’s participation in the DTCC Alternative Investment Product Platform, or the AIP Platform, with respect to certain accounts of the Company’s investors serviced through the AIP Platform. Income Taxes The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. To continue to qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate inco

REAL ESTATE

REAL ESTATE	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
REAL ESTATE	REAL ESTATE As of December 31, 2021, the Company’s portfolio of real estate was composed of four office buildings containing 599,030 rentable square feet, which were collectively 75.3% occupied. The following table provides summary information regarding the properties owned by the Company as of December 31, 2021 (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 $ 48,668 $ — $ 48,668 The Offices at Greenhouse 11/14/2016 Houston TX Office 47,304 (12,110) 35,194 Institute Property 11/09/2017 Chicago IL Office 37,562 (2,785) 34,777 210 W. Chicago 10/05/2020 Chicago IL Office 4,743 (206) 4,537 $ 138,277 $ (15,101) $ 123,176 _____________________ (1) Amounts presented are net of impairment charges and write-offs of fully depreciated/amortized assets. As of December 31, 2021, the following properties each represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage Annualized Base Rent (in thousands) (1) Average Annualized Base Rent per sq. ft. Occupancy Commonwealth Building Portland, OR 224,122 $ 48,668 35.2 % $ 3,669 $ 30.64 53.4 % The Offices at Greenhouse Houston, TX 203,284 35,194 25.5 % 4,212 20.72 100.0 % Institute Property Chicago, IL 155,385 34,777 25.2 % 3,161 28.28 71.9 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2021, 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 are leased to tenants under operating leases for which the terms and expirations vary. As of December 31, 2021, the leases had remaining terms, excluding options to extend, of up to 9.2 years with a weighted-average remaining term of 3.4 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 $0.7 million and $0.8 million as of December 31, 2021 and 2020, respectively. During the years ended December 31, 2021, 2020 and 2019, the Company recognized deferred rent from tenants, net of lease incentive amortization, of $(0.3) million, $(0.3) million, and $0.6 million, respectively. As of December 31, 2021 and 2020, the cumulative deferred rent balance was $4.1 million and $2.6 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $1.9 million and $0.1 million of unamortized lease incentives as of December 31, 2021 and 2020, respectively. As of December 31, 2021, the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands): 2022 $ 10,250 2023 9,871 2024 9,133 2025 5,652 2026 4,873 Thereafter 7,738 $ 47,517 As of December 31, 2021, 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 25% 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, which expires on December 31, 2024, with two five As of December 31, 2021, the Company’s real estate properties were leased to 56 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 Professional, scientific and technical 8 $ 4,481 38.6 % Computer system design and related services 3 1,442 12.4 % $ 5,923 51.0 % _____________________ (1) Annualized base rent represents annualized contractual base rental income as of December 31, 2021, 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 December 31, 2021, no other tenant industries accounted for more than 10% of annualized base rent. Impairment of Real Estate During the year ended December 31, 2021, the Company recorded non-cash impairment charges of $13.2 million to write down the carrying value of the Commonwealth Building, an office property located in Portland, Oregon, to its estimated fair value as a result of a continued decrease in occupancy and 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. As of December 31, 2021, the Commonwealth Building was 53.4% occupied and occupancy is expected to further decline as one tenant at the property, or 3% of the rentable square footage of the property, has notified the Company that it will not be renewing its lease at maturity. The Company is projecting longer lease-up periods for the vacant space as demand for office space in Portland has significantly declined as a result of both the COVID-19 pandemic, with employees continuing to work from home, and the impact of the disruptions caused by protests and demonstrations in the downtown area. Downtown Portland is experiencing record high office vacancies and it is uncertain when the market will fully recover.

TENANT ORIGINATION AND ABSORPTI

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020, 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 2021 2020 2021 2020 2021 2020 Cost $ 7,873 $ 11,068 $ 178 $ 177 $ (2,704) $ (5,114) Accumulated Amortization (4,768) (6,210) (106) (85) 1,866 3,605 Net Amount $ 3,105 $ 4,858 $ 72 $ 92 $ (838) $ (1,509) 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 years ended December 31, 2021, 2020 and 2019 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 Amortization $ (1,682) $ (2,069) $ (2,576) $ (20) $ (28) $ (30) $ 671 $ 1,024 $ 1,278 The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2021 is estimated to be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Above-Market Below-Market 2022 $ (1,238) $ (21) $ 364 2023 (872) (21) 183 2024 (737) (20) 118 2025 (125) (7) 79 2026 (101) (3) 73 Thereafter (32) — 21 $ (3,105) $ (72) $ 838 Weighted-Average Remaining Amortization Period 3.0 years 3.6 years 3.4 years

NOTES PAYABLE

NOTES PAYABLE	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
NOTES PAYABLE	NOTES PAYABLE As of December 31, 2021 and 2020, the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of December 31, 2021 Book Value as of December 31, 2020 Contractual Interest Rate as of December 31, 2021 (1) Effective Interest Rate at December 31, 2021 (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) 52,260 47,550 One-month LIBOR + 2.00% 2.10% Interest Only 11/09/2022 210 W. Chicago Mortgage Loan (5) 3,725 3,763 One-month LIBOR + 2.20% 2.33% (5) 06/28/2024 Notes payable principal outstanding $ 101,666 $ 96,994 Deferred financing costs, net (212) (371) Notes payable, net $ 101,454 $ 96,623 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2021. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2021 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of December 31, 2021, where applicable. (2) Represents the maturity date as of December 31, 2021; subject to certain conditions, the maturity dates of the loans may be extended beyond the dates shown. (3) As of December 31, 2021, there are two one (4) As of December 31, 2021, the outstanding balance under the Term Loan consisted of $34.9 million of term commitment and $17.4 million of revolving commitment. The Term Loan is secured by The Offices at Greenhouse and the Institute Property. Reductions in property values related to the impact of the COVID-19 pandemic have reduced the Company’s availability to draw on the revolving commitment. (5) Monthly payments were initially interest-only. On July 5, 2021, monthly payments for the 210 W. Chicago Mortgage Loan include principal and interest with principal payments calculated using an amortization schedule of 25 years at an interest rate of 6.0%, with the remaining principal balance, all accrued and unpaid interest and any other amounts due at maturity. During the years ended December 31, 2021, 2020 and 2019, the Company incurred $2.3 million, $5.0 million and $7.0 million of interest expense. As of December 31, 2021 and 2020, $0.3 million and $0.3 million of interest expense were payable, respectively. Included in interest expense for the years ended December 31, 2021, 2020 and 2019 were $0.2 million, $0.3 million and $0.4 million of amortization of deferred financing costs, respectively. Interest expense (including gains and losses) incurred as a result of the Company’s derivative instruments decreased interest expense by $3,000 during the year ended December 31, 2021, and increased interest expense by $2.1 million and $1.6 million for the years ended December 31, 2020 and 2019, respectively. The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of December 31, 2021 (in thousands): 2022 $ 52,334 2023 45,755 2024 3,577 2025 — 2026 — Thereafter — $ 101,666

DERIVATIVE INSTRUMENTS

DERIVATIVE INSTRUMENTS	12 Months Ended
	Dec. 31, 2021
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 term 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 December 31, 2021 and 2020. 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): December 31, 2021 December 31, 2020 Reference Rate as of December 31, 2021 Fixed Pay Rate as of December 31, 2021 Remaining Term in Years as of December 31, 2021 Derivative Instruments Number of Notional Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Interest Rate Swaps (1) 1 $ 30,000 2 $ 78,533 One-month LIBOR/ Fixed at 2.82% 2.82% 0.9 _____________________ (1) During the year ended December 31, 2021, one of the Company’s interest rate swaps expired. 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 December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 December 31, 2020 Derivative Instruments Balance Sheet Location Number of Instruments (1) Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 1 $ (610) 2 $ (2,239) _____________________ (1) During the year ended December 31, 2021, one of the Company’s interest rate swaps expired. 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 Years Ended December 31, 2021 2020 2019 Income statement related Derivatives not designated as hedging instruments Realized loss recognized on interest rate swaps $ 1,626 $ 1,380 $ 46 Unrealized (gain) loss on interest rate swaps (1,629) 735 1,595 (Decrease) increase in interest expense as a result of derivatives $ (3) $ 2,115 $ 1,641

FAIR VALUE DISCLOSURES

FAIR VALUE DISCLOSURES	12 Months Ended
	Dec. 31, 2021
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, restricted cash, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items. Derivative instruments: The Company’s derivative instruments are presented at fair value on the accompanying consolidated balance sheets. The valuation of these instruments is determined using a proprietary model that utilizes observable inputs. As such, the Company classifies these inputs as Level 2 inputs. The proprietary model uses the contractual terms of the derivatives, including the period to maturity, as well as observable market-based inputs, including interest rate curves and volatility. The fair values of interest rate swaps are estimated using the market standard methodology of netting the discounted fixed cash payments and the discounted expected variable cash receipts. The variable cash receipts are based on an expectation of interest rates (forward curves) derived from observable market interest rate curves. In addition, credit valuation adjustments, which consider the impact of any credit risks to the contracts, are incorporated in the fair values to account for potential nonperformance risk. 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 December 31, 2021 and 2020, which carrying amounts generally do not approximate the fair values (in thousands): December 31, 2021 December 31, 2020 Face Value Carrying Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 101,666 $ 101,454 $ 100,367 $ 96,994 $ 96,623 $ 95,036 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 December 31, 2021, 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 $ (610) $ — $ (610) $ — During the year ended December 31, 2021, the Company measured the following asset at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Nonrecurring Basis: Impaired real estate $ 50,000 $ — $ — $ 50,000 During the year ended December 31, 2021, 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 8.50% and a terminal cap rate of 6.25%. See Note 4, “Real Estate - Impairment of Real Estate” for further discussion on the impaired real estate property.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	12 Months Ended
	Dec. 31, 2021
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS Pursuant to the Advisory Agreement, the Company is obligated to pay the Advisor specified fees upon the provision of certain services related to the management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is also obligated to reimburse the Advisor for 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 conducted by the Company without reimbursement by the Company. In addition, in connection with 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 and Dealer Manager also serve or served as the advisor and dealer manager, respectively, 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”) (advisory agreement terminated as of October 31, 2019 and the dealer manager agreement terminated as of December 31, 2019), and Pacific Oak Strategic Opportunity REIT II, Inc., formerly KBS Strategic Opportunity REIT II, Inc., (“Pacific Oak Strategic Opportunity REIT II”) (advisory agreement terminated as of October 31, 2019 and the dealer manager agreement terminated as of December 31, 2019). 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 formerly indirectly owned a 33 1/3% interest in KBS Holdings and formerly indirectly owned a 33 1/3% interest in KBS Capital Advisors and KBS Capital Markets Group LLC. On September 1, 2021, upon the transfer of GKP Holding LLC’s ownership interest in KBS Holdings, GKP Holdings LLC ceased to be a manager of KBS Capital Advisors and KBS Holdings and ceased to have an ownership interest in KBS Holdings, KBS Capital Advisors and KBS Capital Markets Group LLC. 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 2021, the Company renewed its participation in the program. The program is effective through June 30, 2022. During the years ended December 31, 2021, 2020 and 2019, no other business transactions occurred between the Company and KBS REIT II and KBS REIT III. Pursuant to the terms of these agreements, summarized below are the related-party costs incurred by the Company for the years ended December 31, 2021, 2020 and 2019, respectively, and any related amounts payable as of December 31, 2021 and 2020 (in thousands): Incurred Years Ended Receivable as of Payable as of 2021 2020 2019 2021 2020 2021 2020 Expensed Asset management fees (1) $ 1,740 $ 1,729 $ 1,898 $ — $ — $ 7,641 $ 5,901 Reimbursement of operating expenses (2) 273 284 198 276 — 19 25 Property management fees (3) 114 136 165 — — 8 11 Disposition fees (4) — 381 — — — — — Other Arrangement Advisor advance for cash distributions (5) — — — — — 1,338 1,338 $ 2,127 $ 2,530 $ 2,261 $ 276 $ — $ 9,006 $ 7,275 _____________________ (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 December 31, 2021, the Company had accrued and deferred payment of $7.6 million of asset management fees related to the periods from October 2017 through December 2021. (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 $0.3 million, $0.3 million and $0.2 million for the years ended December 31, 2021, 2020 and 2019, respectively, and were the only type of employee costs reimbursed under the Advisory Agreement for the years ended December 31, 2021, 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. The receivable as of December 31, 2021, relates to estimated amounts charged to the Company by certain vendors for services for which the Company believes it was either overcharged or which were never performed. The Advisor has agreed to reimburse the Company for any amounts inappropriately charged to the Company. The Company’s audit committee is conducting an ongoing investigation of this matter. 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 December 31, 2021 did not exceed the charter-imposed limitation. 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 December 31, 2021, 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 quarter exceeds the amount of cash distributions declared for record dates of such prior quarter (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; (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; or (iii) Net sales proceeds from the sale of the Company’s real estate portfolio, after the pay down of any related debt and selling costs and expenses, are available. 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 the Company. If such cash could have been used instead of third-party financing, the third-party financing proceeds will be available to repay the advance. The Advisor may defer repayment of the advance notwithstanding that the Company would otherwise be obligated 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 one Property Name Effective Date Annual Fee Percentage Commonwealth Building 07/01/2016 1.25% The Offices at Greenhouse 11/14/2016 0.25% Institute Property 11/09/2017 1.00% 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.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	12 Months Ended
	Dec. 31, 2021
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

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	12 Months Ended
	Dec. 31, 2021
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS The Company evaluates subsequent events up until the date the consolidated financial statements are issued. Plan of Liquidation On [March 29, 2022], following its review of various strategic alternatives available to the Company, the Special Committee and the Company’s board of directors unanimously approved the sale of all of the Company’s assets and its dissolution pursuant to the terms of the Plan of Liquidation and directed that the Plan of Liquidation be submitted to the Company’s stockholders for approval. The Company expects to send out a proxy statement to its stockholders for a liquidation vote in April 2022, with a stockholder meeting to approve the Plan of Liquidation to be held within 90 days. The principal purpose of the proposed Plan of Liquidation is to provide liquidity to the Company’s stockholders by selling its assets, paying its debts and distributing the net proceeds from liquidation to the Company’s stockholders.

SCHEDULE III REAL ESTATE ASSETS

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	12 Months Ended
	Dec. 31, 2021
SEC Schedule, 12-28, Real Estate Companies, Investment in Real Estate and Accumulated Depreciation Disclosure [Abstract]
SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION	Initial Cost to Company Gross Amount at which Carried at Close of Period Description Location Ownership Encumbrances Land Building and Improvements (1) Total Cost Capitalized Subsequent to Acquisition (2) Land Building and Improvements (1) Total (3) Accumulated Original Date Acquired Commonwealth Building Portland, OR 100% $ 45,681 $ 7,300 $ 66,544 $ 73,844 $ (25,176) $ 5,769 $ 42,899 $ 48,668 $ — 1948 06/30/2016 The Offices at Greenhouse Houston, TX 100% (4) 5,009 41,595 46,604 700 5,009 42,295 47,304 (12,110) 2014 11/14/2016 Institute Property Chicago, IL 100% (4) 8,400 37,654 46,054 (8,492) 7,236 30,326 37,562 (2,785) 1908 11/09/2017 210 W. Chicago Chicago, IL 100% 3,725 1,808 2,972 4,780 (37) 1,808 2,935 4,743 (206) 1913/2000 10/05/2020 Total $ 22,517 $ 148,765 $ 171,282 $ (33,005) $ 19,822 $ 118,455 $ 138,277 $ (15,101) _____________________ (1) Building and improvements includes impairment charges and tenant origination and absorption costs. (2) Costs capitalized subsequent to acquisition is net of impairment charges and write-offs of fully depreciated/amortized assets. (3) The aggregate cost of real estate for federal income tax purposes was $177.8 million (unaudited) as of December 31, 2021. (4) As of December 31, 2021, these properties served as the security for the Term Loan, which had an outstanding principal balance of $52.3 million as of December 31, 2021. 2021 2020 2019 Real Estate: Balance at the beginning of the year $ 167,352 $ 193,733 $ 190,751 Acquisitions — 4,780 — Improvements 736 938 3,962 Write off of fully depreciated and fully amortized assets (16,816) (5,767) (980) Impairments (12,995) (5,677) — Sale — (20,655) — Balance at the end of the year $ 138,277 $ 167,352 $ 193,733 Accumulated depreciation and amortization: Balance at the beginning of the year $ 24,716 $ 24,696 $ 17,116 Depreciation and amortization expense 7,201 7,795 8,560 Write off of fully depreciated and fully amortized assets (16,816) (5,767) (980) Sale — (2,008) — Balance at the end of the year $ 15,101 $ 24,716 $ 24,696

SUMMARY OF SIGNIFICANT ACCOUN_2

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Basis of Presentation	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.
Principles of Consolidation	The accompanying consolidated financial statements and notes thereto have been prepared in accordance with GAAP as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC.
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.
Revenue Recognition - Operating Leases	Real Estate On January 1, 2019, the Company adopted the lease accounting standards under Topic 842 including the package of practical expedients for all leases that commenced before the effective date of January 1, 2019. Accordingly, the Company (i) did not reassess whether any expired or existing contracts are or contain leases, (ii) did not reassess the lease classification for any expired or existing lease, and (iii) did not reassess initial direct costs for any existing leases. The Company did not elect the practical expedient related to using hindsight to reevaluate the lease term. In addition, the Company adopted the practical expedient for land easements and did not assess whether existing or expired land easements that were not previously accounted for as leases under the lease accounting standards of Topic 840 are or contain a lease under Topic 842. In addition, Topic 842 provides an optional transition method to allow entities to apply the new lease accounting standards at the adoption date and recognize a cumulative-effect adjustment to the opening balance of retained earnings. The Company adopted this transition method upon its adoption of the lease accounting standards of Topic 842, which did not result in a cumulative effect adjustment to the opening balance of retained earnings on January 1, 2019. In accordance with Topic 842, tenant reimbursements for property taxes and insurance are included in the single lease component of the lease contract (the right of the lessee to use the leased space) and therefore are accounted for as variable lease payments and are recorded as rental income on the Company’s statement of operations. In addition, the Company adopted the practical expedient available under Topic 842 to not separate nonlease components from the associated lease component and instead to account for those components as a single component if the nonlease components otherwise would be accounted for under the new revenue recognition standard (Topic 606) and if certain conditions are met, specifically related to tenant reimbursements for common area maintenance which would otherwise be accounted for under the revenue recognition standard. The Company believes the two conditions have been met for tenant reimbursements for common area maintenance as (i) the timing and pattern of transfer of the nonlease components and associated lease components are the same and (ii) the lease component would be classified as an operating lease. Accordingly, tenant reimbursements for common area maintenance are also accounted for as variable lease payments and recorded as rental income on the Company’s statement of operations. The Company recognizes minimum rent, including rental abatements, lease incentives and contractual fixed increases attributable to operating leases, on a straight-line basis over the term of the related leases when collectibility is probable and records amounts expected to be received in later years as deferred rent receivable. If the lease provides for tenant improvements, the Company determines whether the tenant improvements, for accounting purposes, are owned by the tenant or the Company. When the Company is the owner of the tenant improvements, the tenant is not considered to have taken physical possession or have control of the physical use of the leased asset until the tenant improvements are substantially completed. When the tenant is the owner of the tenant improvements, any tenant improvement allowance (including amounts that can be taken in the form of cash or a credit against the tenant’s rent) that is funded is treated as a lease incentive and amortized as a reduction of rental revenue over the lease term. Tenant improvement ownership is determined based on various factors including, but not limited to: • whether the lease stipulates how a tenant improvement allowance may be spent; • whether the lessee or lessor supervises the construction and bears the risk of cost overruns; • whether the amount of a tenant improvement allowance is in excess of market rates; • whether the tenant or landlord retains legal title to the improvements at the end of the lease term; • whether the tenant improvements are unique to the tenant or general purpose in nature; and • whether the tenant improvements are expected to have any residual value at the end of the lease. In accordance with Topic 842, the Company makes a determination of whether the collectibility of the lease payments in an operating lease is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any contractual lease payments, deferred rent receivable, and variable lease payments and would recognize rental income only if cash is received. These changes to the Company’s collectibility assessment are reflected as an adjustment to rental income.
Sales of Real Estate	he Company follows the guidance of ASC 610-20, Other Income - Gains and Losses from the Derecognition of Nonfinancial Assets (“ASC 610-20”) , which applies to sales or transfers to noncustomers of nonfinancial assets or in substance nonfinancial assets that do not meet the definition of a business. Generally, the Company’s sales of real estate would be considered a sale of a nonfinancial asset as defined by ASC 610-20. ASC 610-20 refers to the revenue recognition principles under ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606).
Cash and Cash Equivalents	The Company recognizes interest income on its cash and cash equivalents as it is earned and classifies such amounts as other interest income. The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Cash and cash equivalents are stated at cost, which approximates fair value. The Company’s cash and cash equivalents balance exceeds federally insurable limits as of December 31, 2021. The Company intends to mitigate this risk by depositing funds with a major financial institution; however, these cash balances could be impacted if the underlying financial institutions fail or are subject to other adverse conditions in the financial markets. There were no restrictions on the use of the Company’s cash and cash equivalents as of December 31, 2021.
Real Estate, Depreciation and Amortization	Real estate costs related to the acquisition and improvement of properties are capitalized and amortized over the expected useful life of the asset on a straight-line basis. Repair and maintenance costs are charged to expense as incurred and significant replacements and betterments are capitalized. Repair and maintenance costs include all costs that do not extend the useful life of the real estate asset. The Company considers the period of future benefit of an asset to determine its appropriate useful life. Expenditures for tenant improvements are capitalized and amortized over the shorter of the tenant’s lease term or expected useful life. The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods
Real Estate, Real Estate Acquisition Valuation	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination or an asset acquisition. If substantially all of the fair value of the gross assets acquired are concentrated in a single identifiable asset or group of similar identifiable assets, then the set is not a business. For purposes of this test, land and buildings can be combined along with the intangible assets for any in-place leases and accordingly, most acquisitions of investment properties would not meet the definition of a business and would be accounted for as an asset acquisition. To be considered a business, a set must include an input and a substantive process that together significantly contributes to the ability to create an output. All assets acquired and liabilities assumed in a business combination are measured at their acquisition-date fair values. For asset acquisitions, the cost of the acquisition is allocated to individual assets and liabilities on a relative fair value basis. Acquisition costs associated with business combinations are expensed as incurred. Acquisition costs associated with asset acquisitions are capitalized. The Company assesses the acquisition date fair values of all tangible assets, identifiable intangibles and assumed liabilities using methods similar to those used by independent appraisers, generally utilizing a discounted cash flow analysis that applies appropriate discount and/or capitalization rates and available market information. Estimates of future cash flows are based on a number of factors, including historical operating results, known and anticipated trends, and market and economic conditions. The fair value of tangible assets of an acquired property considers the value of the property as if it were vacant. The Company records above-market and below-market in-place lease values for acquired properties based on the present value (using a discount rate that reflects the risks associated with the leases acquired) of the difference between (i) the contractual amounts to be paid pursuant to the in-place leases and (ii) management’s estimate of fair market lease rates for the corresponding in-place leases, measured over a period equal to the remaining non-cancelable term of above-market in-place leases and for the initial term plus any extended term for any leases with below-market renewal options. The Company amortizes any recorded above-market or below-market lease values as a reduction or increase, respectively, to rental income over the remaining non-cancelable terms of the respective lease, including any below-market renewal periods. The Company estimates the value of tenant origination and absorption costs by considering the estimated carrying costs during hypothetical expected lease up periods, considering current market conditions. In estimating carrying costs, the Company includes real estate taxes, insurance and other operating expenses and estimates of lost rentals at market rates during the expected lease up periods.
Impairments of Real Estate and Related Intangible Assets and Liabilities	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of its real estate and related intangible assets and liabilities may not be recoverable or realized. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability by estimating whether the Company will recover the carrying value of the real estate and related intangible assets and liabilities through its undiscounted future cash flows and its eventual disposition. If, based on this analysis, the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company would record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities.
Real Estate Held for Sale	The Company generally considers real estate to be “held for sale” when the following criteria are met: (i) management commits to a plan to sell the property, (ii) the property is available for sale immediately, (iii) the property is actively being marketed for sale at a price that is reasonable in relation to its current fair value, (iv) the sale of the property within one year is considered probable and (v) significant changes to the plan to sell are not expected. Real estate that is held for sale and its related assets are classified as “real estate held for sale” and “assets related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Notes payable and other liabilities related to real estate held for sale are classified as “notes payable related to real estate held for sale” and “liabilities related to real estate held for sale,” respectively, for all periods presented in the accompanying consolidated financial statements. Real estate classified as held for sale is no longer depreciated and is reported at the lower of its carrying value or its estimated fair value less estimated costs to sell. Operating results of properties and related gains on sales of properties that were disposed of or classified as held for sale in the ordinary course of business are included in continuing operations on the Company’s consolidated statements of operations.
Restricted Cash	Restricted cash is composed of lender impound reserve accounts related to the Company’s borrowings.
Rents and Other Receivables	The Company makes a determination of whether the collectibility of the lease payments in its operating leases is probable. If the Company determines the lease payments are not probable of collection, the Company would fully reserve for any outstanding rent receivables related to contractual lease payments and variable leases payments and write-off any deferred rent receivable and would recognize rental income only if cash is received. The Company exercises judgment in assessing collectibility and considers payment history, current credit status, the tenant’s financial condition, security deposits, letters of credit, lease guarantees and current market conditions that may impact the tenant’s ability to make payments in accordance with its lease agreements, including the impact of the COVID-19 pandemic on the tenant’s business, in making the determination.
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 on its variable rate notes payable. The Company records these derivative instruments at fair value on the accompanying consolidated balance sheets. The changes in fair value for derivative instruments that are not designated as a hedge or that do not meet the hedge accounting criteria are recorded as gain or loss on derivative instruments and included in interest expense as presented in the accompanying consolidated statements of operations.
Deferred Financing Costs	Deferred financing costs represent commitment fees, loan fees, legal fees and other third-party costs associated with obtaining financing and are presented on the balance sheet as a direct deduction from the carrying value of the associated debt liability. These costs are amortized over the terms of the respective financing agreements using the effective interest method. Unamortized deferred financing costs are generally expensed when the associated debt is refinanced or repaid before maturity unless specific rules are met that would allow for the carryover of such costs to the refinanced debt. Deferred financing costs incurred before an associated debt liability is recognized are included in prepaid and other assets on the balance sheet. Costs incurred in seeking financing transactions that do not close are expensed in the period in which it is determined that the financing will not close.
Fair Value Measurements	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 is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The 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. When available, the Company utilizes quoted market prices from independent third-party sources to determine fair value and classifies such items in Level 1 or Level 2. In instances where the market for a financial instrument is not active, regardless of the availability of a nonbinding quoted market price, observable inputs might not be relevant and could require the Company to make a significant adjustment to derive a fair value measurement. Additionally, in an inactive market, a market price quoted from an independent third party may rely more on models with inputs based on information available only to that independent third party. When the Company determines the market for a financial instrument owned by the Company to be illiquid or when market transactions for similar instruments do not appear orderly, the Company uses several valuation sources (including internal valuations, discounted cash flow analysis and quoted market prices) and establishes a fair value by assigning weights to the various valuation sources. Additionally, when determining the fair value of liabilities in circumstances in which a quoted price in an active market for an identical liability is not available, the Company measures fair value using (i) a valuation technique that uses the quoted price of the identical liability when traded as an asset or quoted prices for similar liabilities or similar liabilities when traded as assets or (ii) another valuation technique that is consistent with the principles of fair value measurement, such as the income approach or the market approach. Changes in assumptions or estimation methodologies can have a material effect on these estimated fair values. In this regard, the derived fair value estimates cannot be substantiated by comparison to independent markets and, in many cases, may not be realized in an immediate settlement of the instrument.
Redeemable Common Stock	The Company has a share redemption program pursuant to which stockholders may sell their shares to the Company only in connection with a stockholder’s death, “qualifying disability” or “determination of incompetence” (each as defined in the share redemption program, and collectively “special redemptions”). Such redemption are subject to the limitations described in the share redemption program document, including: • During each calendar year, special redemptions are limited to an annual dollar amount determined by the board of directors, which may be reviewed during the year and increased or decreased upon ten • During any calendar year, the Company may redeem no more than 5% of the weighted-average number of shares outstanding during the prior calendar year. • The Company has no obligation to redeem shares if the redemption would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency. Special redemptions are redeemed at a price equal to the most recent estimated NAV per share as of the applicable redemption date. The Company does not expect to have funds available for ordinary redemptions in the future. On December 7, 2018, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $9.20 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2018. The change in the redemption price was effective for the December 2018 through November 2019 redemption dates. On December 4, 2019, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $8.43 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2019. The change in the redemption price was effective for the December 2019 through November 2020 redemption dates. On December 7, 2020, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $4.90 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2020. The change in the redemption price was effective for the December 2020 through November 2021 redemption dates. On December 6, 2021, the Company’s board of directors approved an estimated value per share of the Company’s common stock of $3.38 (unaudited) based on the estimated value of the Company’s assets less the estimated value of the Company’s liabilities, divided by the number of shares outstanding, all as of September 30, 2021. The change in the redemption price became effective for the December 2021 redemption date, which was December 31, 2021, and will be effective until the estimated value per share is updated. The Company records amounts that are redeemable under the share redemption program as redeemable common stock liability in its consolidated balance sheets because the shares will be mandatorily redeemable at the option of the holder and therefore their redemption is outside the control of the Company. Commencing January 1, 2019, the maximum amount redeemable under the Company’s share redemption program during a calendar year is limited to an annual dollar amount determined by the board of directors, which was $1.0 million for the year ended December 31, 2019, and was initially set at $1.0 million for the year ended December 31, 2020. On August 5, 2020, the board of directors established a new dollar amount limitation under the Company’s share redemption program for the remainder of the calendar year 2020 of $200,000. On December 7, 2020, the Company’s board of directors approved a new annual dollar amount limitation for special redemptions for calendar year 2021 of $250,000 in the aggregate. On December 6, 2021, the Company’s board of directors approved the same annual dollar amount limitation for special redemptions for calendar year 2022 of $250,000 in the aggregate, as may be reviewed and adjusted from time to time by the board of directors. However, because the amounts that can be redeemed are determinable and only contingent on an event that is likely to occur (e.g., the passage of time), the Company presents the amounts available for redemptions in future periods as redeemable common stock in the accompanying balance sheets.
Related Party Transactions	Pursuant to the Advisory Agreement, the Company is obligated to pay the Advisor specified fees upon the provision of certain services related to the management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is also obligated to reimburse the Advisor for 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. See Note 9, “Related Party Transactions.” In addition, the Advisor has paid all offering expenses related to the second private offering the Company conducted without reimbursement by the Company. In addition, in connection with property acquisitions, the Company, through indirect wholly owned subsidiaries, has entered into separate property management agreements (each, a “Property Management Agreement”) with KBS Management Group, LLC (the “Co-Manager”), an affiliate of the Advisor.
Related Party Transactions, Asset Management Fee	The Company pays the Advisor a monthly asset management fee equal to one-twelfth of 1.0% of the cost of the real property investments, including any debt financing on the property. The cost of the real property investments is calculated as the amount paid or allocated to acquire the real property, plus budgeted capital improvement costs for the development, construction or improvements to the property once such funds are disbursed pursuant to a final approved budget and typical third-party expenses related to the acquisition.
Related Party Transactions, Property Management Fee	The Company pays the Co-Manager a monthly fee equal to a percentage of the rent (determined on a property by property basis), payable and actually collected for the month, from certain property acquisitions for which the Company has entered a Property Management Agreement with the Co-Manager. See Note 9, “Related-Party Transactions — Real Estate Property Co-Management Agreements.”
Related Party Transactions, Disposition Fee	For substantial assistance in connection with the sale of the Company’s assets, which includes the sale of a single asset or the sale of all or a portion of the Company’s assets through a portfolio sale, merger or business combination transaction, the Company will pay the Advisor or its affiliates a percentage of the contract sales price of the assets sold. The disposition fee will equal 1.5% of the contract sales price. The disposition fee is determined on a per transaction basis and is not cumulative. The Advisor has agreed to waive the receipt of a disposition fee in connection with the sale of the assets of the Company in connection with a Plan of Liquidation.
Related Party Transactions, Reimbursement of Operating Expenses	The Company reimburses the Advisor for the following expenses it incurs in connection with providing services to the Company under the Advisory Agreement: the Company’s allocable portion of the costs of internal audit department personnel and promotional costs and expenses related to the leasing of properties. The Company reimbursed the Dealer Manager for certain fees and expenses it incurred for administering the Company’s participation in the DTCC Alternative Investment Product Platform, or the AIP Platform, with respect to certain accounts of the Company’s investors serviced through the AIP Platform.
Income Taxes	The Company has elected to be taxed as a REIT under the Internal Revenue Code of 1986, as amended. To continue to qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of the Company’s annual REIT taxable income to stockholders (which is computed without regard to the dividends-paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax on income that it distributes as dividends to its stockholders. If the Company fails to qualify as a REIT in any taxable year, it will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants the Company relief under certain statutory provisions. Such an event could materially and adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company believes that it is organized and operates in such a manner as to qualify for treatment as a REIT. The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. The Company’s evaluations were performed for all open tax years through December 31, 2021. As of December 31, 2021, returns for the calendar years 2017 through 2020 remain subject to examination by major tax jurisdictions.
Segments	The Company had invested in four office properties as of December 31, 2021. 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 years ended December 31, 2021, 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 year ended December 31, 2021, 2020 and 2019 as aggregate cash distributions for each share class were equal during those periods.
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 Notes to Consolidated Financial Statements are presented on an unaudited basis.
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 December 31, 2021, 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 (“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.

SUMMARY OF SIGNIFICANT ACCOUN_3

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)	12 Months Ended
	Dec. 31, 2021
Accounting Policies [Abstract]
Schedule of Estimated Useful Life	The Company anticipates the estimated useful lives of its assets by class to be generally as follows: Land N/A Buildings 25 - 40 years Building improvements 10 - 25 years Tenant improvements Shorter of lease term or expected useful life Tenant origination and absorption costs Remaining term of related leases, including below-market renewal periods

REAL ESTATE (Tables)

REAL ESTATE (Tables)	12 Months Ended
	Dec. 31, 2021
Real Estate [Abstract]
Schedule of Real Estate Investments	The following table provides summary information regarding the properties owned by the Company as of December 31, 2021 (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 $ 48,668 $ — $ 48,668 The Offices at Greenhouse 11/14/2016 Houston TX Office 47,304 (12,110) 35,194 Institute Property 11/09/2017 Chicago IL Office 37,562 (2,785) 34,777 210 W. Chicago 10/05/2020 Chicago IL Office 4,743 (206) 4,537 $ 138,277 $ (15,101) $ 123,176 _____________________
Schedules of Concentration of Risk, by Risk Factor	As of December 31, 2021, the following properties each represented more than 10% of the Company’s total assets: Property Location Rentable Total Real Estate, Net Percentage Annualized Base Rent (in thousands) (1) Average Annualized Base Rent per sq. ft. Occupancy Commonwealth Building Portland, OR 224,122 $ 48,668 35.2 % $ 3,669 $ 30.64 53.4 % The Offices at Greenhouse Houston, TX 203,284 35,194 25.5 % 4,212 20.72 100.0 % Institute Property Chicago, IL 155,385 34,777 25.2 % 3,161 28.28 71.9 % _____________________ Industry Number of Tenants Annualized Base Rent (1) (in thousands) Percentage of Professional, scientific and technical 8 $ 4,481 38.6 % Computer system design and related services 3 1,442 12.4 % $ 5,923 51.0 % _____________________
Lessor, Operating Lease, Payments to be Received, Maturity	As of December 31, 2021, the future minimum rental income from the Company’s properties under its non-cancelable operating leases was as follows (in thousands): 2022 $ 10,250 2023 9,871 2024 9,133 2025 5,652 2026 4,873 Thereafter 7,738 $ 47,517

TENANT ORIGINATION AND ABSORP_2

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020, 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 2021 2020 2021 2020 2021 2020 Cost $ 7,873 $ 11,068 $ 178 $ 177 $ (2,704) $ (5,114) Accumulated Amortization (4,768) (6,210) (106) (85) 1,866 3,605 Net Amount $ 3,105 $ 4,858 $ 72 $ 92 $ (838) $ (1,509)
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 years ended December 31, 2021, 2020 and 2019 were as follows (in thousands): Tenant Origination and Above-Market Below-Market For the Years Ended December 31, For the Years Ended December 31, For the Years Ended December 31, 2021 2020 2019 2021 2020 2019 2021 2020 2019 Amortization $ (1,682) $ (2,069) $ (2,576) $ (20) $ (28) $ (30) $ 671 $ 1,024 $ 1,278
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense	The remaining unamortized balance for these outstanding intangible assets and liabilities as of December 31, 2021 is estimated to be amortized for the years ending December 31 as follows (in thousands): Tenant Origination and Above-Market Below-Market 2022 $ (1,238) $ (21) $ 364 2023 (872) (21) 183 2024 (737) (20) 118 2025 (125) (7) 79 2026 (101) (3) 73 Thereafter (32) — 21 $ (3,105) $ (72) $ 838 Weighted-Average Remaining Amortization Period 3.0 years 3.6 years 3.4 years

NOTES PAYABLE (Tables)

NOTES PAYABLE (Tables)	12 Months Ended
	Dec. 31, 2021
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments	As of December 31, 2021 and 2020, the Company’s notes payable consisted of the following (dollars in thousands): Book Value as of December 31, 2021 Book Value as of December 31, 2020 Contractual Interest Rate as of December 31, 2021 (1) Effective Interest Rate at December 31, 2021 (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) 52,260 47,550 One-month LIBOR + 2.00% 2.10% Interest Only 11/09/2022 210 W. Chicago Mortgage Loan (5) 3,725 3,763 One-month LIBOR + 2.20% 2.33% (5) 06/28/2024 Notes payable principal outstanding $ 101,666 $ 96,994 Deferred financing costs, net (212) (371) Notes payable, net $ 101,454 $ 96,623 _____________________ (1) Contractual interest rate represents the interest rate in effect under the loan as of December 31, 2021. Effective interest rate is calculated as the actual interest rate in effect as of December 31, 2021 (consisting of the contractual interest rate and the effect of interest rate swaps, if applicable), using interest rate indices as of December 31, 2021, where applicable. (2) Represents the maturity date as of December 31, 2021; subject to certain conditions, the maturity dates of the loans may be extended beyond the dates shown. (3) As of December 31, 2021, there are two one (4) As of December 31, 2021, the outstanding balance under the Term Loan consisted of $34.9 million of term commitment and $17.4 million of revolving commitment. The Term Loan is secured by The Offices at Greenhouse and the Institute Property. Reductions in property values related to the impact of the COVID-19 pandemic have reduced the Company’s availability to draw on the revolving commitment.
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 December 31, 2021 (in thousands): 2022 $ 52,334 2023 45,755 2024 3,577 2025 — 2026 — Thereafter — $ 101,666

DERIVATIVE INSTRUMENTS (Tables)

DERIVATIVE INSTRUMENTS (Tables)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020. 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): December 31, 2021 December 31, 2020 Reference Rate as of December 31, 2021 Fixed Pay Rate as of December 31, 2021 Remaining Term in Years as of December 31, 2021 Derivative Instruments Number of Notional Number of Instruments Notional Amount Derivative instruments not designated as hedging instruments Interest Rate Swaps (1) 1 $ 30,000 2 $ 78,533 One-month LIBOR/ Fixed at 2.82% 2.82% 0.9 _____________________ (1) During the year ended December 31, 2021, one of the Company’s interest rate swaps expired.
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 December 31, 2021 and 2020 (dollars in thousands): December 31, 2021 December 31, 2020 Derivative Instruments Balance Sheet Location Number of Instruments (1) Fair Value Number of Fair Value Derivative instruments not designated as hedging instruments Interest Rate Swaps Other liabilities, at fair value 1 $ (610) 2 $ (2,239) _____________________ (1) During the year ended December 31, 2021, one of the Company’s interest rate swaps expired.
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 Years Ended December 31, 2021 2020 2019 Income statement related Derivatives not designated as hedging instruments Realized loss recognized on interest rate swaps $ 1,626 $ 1,380 $ 46 Unrealized (gain) loss on interest rate swaps (1,629) 735 1,595 (Decrease) increase in interest expense as a result of derivatives $ (3) $ 2,115 $ 1,641

FAIR VALUE DISCLOSURES (Tables)

FAIR VALUE DISCLOSURES (Tables)	12 Months Ended
	Dec. 31, 2021
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 December 31, 2021 and 2020, which carrying amounts generally do not approximate the fair values (in thousands): December 31, 2021 December 31, 2020 Face Value Carrying Fair Value Face Value Carrying Amount Fair Value Financial liabilities: Notes payable $ 101,666 $ 101,454 $ 100,367 $ 96,994 $ 96,623 $ 95,036
Schedule of Assets and Liabilities at Fair Value	As of December 31, 2021, 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 $ (610) $ — $ (610) $ — During the year ended December 31, 2021, the Company measured the following asset at fair value on a nonrecurring basis (in thousands): Fair Value Measurements Using Total Quoted Prices in Active Markets Significant Other Observable Inputs Significant Unobservable Inputs Nonrecurring Basis: Impaired real estate $ 50,000 $ — $ — $ 50,000

RELATED PARTY TRANSACTIONS (Tab

RELATED PARTY TRANSACTIONS (Tables)	12 Months Ended
	Dec. 31, 2021
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 years ended December 31, 2021, 2020 and 2019, respectively, and any related amounts payable as of December 31, 2021 and 2020 (in thousands): Incurred Years Ended Receivable as of Payable as of 2021 2020 2019 2021 2020 2021 2020 Expensed Asset management fees (1) $ 1,740 $ 1,729 $ 1,898 $ — $ — $ 7,641 $ 5,901 Reimbursement of operating expenses (2) 273 284 198 276 — 19 25 Property management fees (3) 114 136 165 — — 8 11 Disposition fees (4) — 381 — — — — — Other Arrangement Advisor advance for cash distributions (5) — — — — — 1,338 1,338 $ 2,127 $ 2,530 $ 2,261 $ 276 $ — $ 9,006 $ 7,275 _____________________ (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 December 31, 2021, the Company had accrued and deferred payment of $7.6 million of asset management fees related to the periods from October 2017 through December 2021. (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 Commonwealth Building 07/01/2016 1.25% The Offices at Greenhouse 11/14/2016 0.25% Institute Property 11/09/2017 1.00%

ORGANIZATION (Details)

ORGANIZATION (Details) $ / shares in Units, $ in Millions	Mar. 29, 2022	Dec. 31, 2021property	Dec. 31, 2021USD ($)property	Dec. 31, 2021USD ($)property	Dec. 31, 2020shares	Jan. 27, 2015$ / sharesshares
Organizational Structure [Line Items]
Core property, minimum percent of occupancy		80.00%	80.00%	80.00%
Granted rent deferrals | $				$ 0.2
Grants in rent abatements | $			$ 0.7
Revenue Benchmark | Customer Concentration Risk | Retail Tenants
Organizational Structure [Line Items]
Percentage of annualized base rent		7.00%
Class A common stock
Organizational Structure [Line Items]
Common stock, shares issued (in shares)					9,873,729
Class T common stock
Organizational Structure [Line Items]
Common stock, shares issued (in shares)					310,974
Maximum | Subsequent Event
Organizational Structure [Line Items]
Plan of liquidation, approval period	90 days
Office Properties
Organizational Structure [Line Items]
Number of real estate properties | property		4	4	4
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
Operating Partnership
Organizational Structure [Line Items]
Managing member or general partner, ownership interest			0.10%
Members or limited partners, ownership interest			99.90%

GOING CONCERN (Details)

GOING CONCERN (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Occupancy rate	75.30%	90.40%
Debt maturities within one year	$ 97.9

SUMMARY OF SIGNIFICANT ACCOUN_4

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Narrative) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Property, Plant and Equipment [Abstract]
Impairment charges on real estate	$ 13,164,000	$ 5,750,000	$ 0

SUMMARY OF SIGNIFICANT ACCOUN_5

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Useful Life) (Details)	12 Months Ended
	Dec. 31, 2021
Buildings | Minimum
Property, Plant and Equipment [Line Items]
Useful lives	25 years
Buildings | Maximum
Property, Plant and Equipment [Line Items]
Useful lives	40 years
Building improvements | Minimum
Property, Plant and Equipment [Line Items]
Useful lives	10 years
Building improvements | Maximum
Property, Plant and Equipment [Line Items]
Useful lives	25 years
Tenant improvements
Property, Plant and Equipment [Line Items]
Useful lives	Shorter of lease term or expected useful life
Tenant origination and absorption costs
Property, Plant and Equipment [Line Items]
Useful lives	Remaining term of related leases, including below-market renewal periods

SUMMARY OF SIGNIFICANT ACCOUN_6

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Redeemable Common Stock) (Details) - USD ($)	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2019	Dec. 31, 2022	Dec. 06, 2021	Dec. 31, 2020	Dec. 07, 2020	Aug. 05, 2020	Dec. 04, 2019	Dec. 07, 2018
Summary of Significant Accounting Policies [Line Items]
Period of increase or decrease of funding available for redemption	10 days
Dollar limitation for special redemptions	$ 250,000				$ 1,000,000		$ 200,000
Maximum percentage of weighted-average shares outstanding available for redemption during any calendar year	5.00%
Estimated value per share of company's common stock (in dollars per share)				$ 3.38		$ 4.90		$ 8.43	$ 9.20
Maximum number of shares redeemable per year, value		$ 1,000,000
Forecast
Summary of Significant Accounting Policies [Line Items]
Dollar limitation for special redemptions			$ 250,000

SUMMARY OF SIGNIFICANT ACCOUN_7

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Asset Management Fee) (Details) - USD ($) $ in Thousands	Aug. 09, 2017	Aug. 08, 2017	Dec. 31, 2021	Dec. 31, 2020
Summary of Significant Accounting Policies [Line Items]
Due to affiliates			$ 9,006	$ 7,275
KBS Capital Advisors LLC
Summary of Significant Accounting Policies [Line Items]
Due to affiliates			$ 0
KBS Capital Advisors LLC | Cost of Investments
Summary of Significant Accounting Policies [Line Items]
Monthly management fee, percent of cost of investment less debt secured by investments		0.13%
Monthly management fee, percent of cost and real estate property investment, including any debt financing on property	0.083%

SUMMARY OF SIGNIFICANT ACCOUN_8

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Disposition Fee) (Details)	Dec. 31, 2021
KBS Capital Advisors LLC or Affiliates
Summary of Significant Accounting Policies [Line Items]
Disposition fee as percent of contract sales price	1.50%

SUMMARY OF SIGNIFICANT ACCOUN_9

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Segments) (Details)	12 Months Ended
	Dec. 31, 2021segmentproperty
Accounting Policies [Abstract]
Number of reportable segments | segment	1
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property	4

SUMMARY OF SIGNIFICANT ACCOU_10

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Per Share Data) (Details) - $ / shares	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Accounting Policies [Abstract]
Antidilutive securities (in shares)	0	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)	$ 0.17150000	$ 0.16860000	$ 0.55036183
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)	$ 0.17150000	$ 0.16860000	$ 0.55036183

SUMMARY OF SIGNIFICANT ACCOU_11

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Accounting Standards) (Details) - USD ($) $ in Millions	12 Months Ended		21 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2021
Summary of Significant Accounting Policies [Line Items]
Granted rent deferrals			$ 0.2
Grants in rent abatements	$ 0.7
Receivables for lease payments	0.1		$ 0.1
Rental abatements granted to tenants	$ 0.6	$ 0.1

REAL ESTATE (Narrative) (Detail

REAL ESTATE (Narrative) (Details)	Dec. 31, 2021ft²property	Dec. 31, 2020
Real Estate Properties [Line Items]
Occupancy rate	75.30%	90.40%
Office Properties
Real Estate Properties [Line Items]
Number of real estate properties | property	4
Occupancy rate	75.30%
Office Properties | Held-for-Investment
Real Estate Properties [Line Items]
Rentable square feet | ft²	599,030

REAL ESTATE (Summary of Investm

REAL ESTATE (Summary of Investments) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Real Estate Properties [Line Items]
Total Real Estate at Cost	$ 138,277	$ 167,352
Accumulated Depreciation and Amortization	(15,101)	(24,716)
Total real estate, net	$ 123,176	$ 142,636
Commonwealth Building | Office Properties
Real Estate Properties [Line Items]
Date Acquired	Jun. 30, 2016
Total Real Estate at Cost	$ 48,668
Accumulated Depreciation and Amortization	0
Total real estate, net	$ 48,668
The Offices at Greenhouse | Office Properties
Real Estate Properties [Line Items]
Date Acquired	Nov. 14, 2016
Total Real Estate at Cost	$ 47,304
Accumulated Depreciation and Amortization	(12,110)
Total real estate, net	$ 35,194
Institute Property | Office Properties
Real Estate Properties [Line Items]
Date Acquired	Nov. 9, 2017
Total Real Estate at Cost	$ 37,562
Accumulated Depreciation and Amortization	(2,785)
Total real estate, net	$ 34,777
210 W. Chicago | Office Properties
Real Estate Properties [Line Items]
Date Acquired	Oct. 5, 2020
Total Real Estate at Cost	$ 4,743
Accumulated Depreciation and Amortization	(206)
Total real estate, net	$ 4,537

REAL ESTATE (Concentration of C

REAL ESTATE (Concentration of Credit Risk, Tenant Lease that Represents More than 10% of Annualized Base Rent) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)ft²$ / ft²	Dec. 31, 2020USD ($)
Concentration Risk [Line Items]
Total Real Estate, Net	$ 123,176	$ 142,636
Annualized Base Rent	$ 5,923
Occupancy	75.30%	90.40%
Customer Concentration Risk
Concentration Risk [Line Items]
Annualized Base Rent	$ 2,900
Average Annualized Base Rent per sq. ft. | $ / ft²	21.37
Commonwealth Building
Concentration Risk [Line Items]
Occupancy	53.40%
Commonwealth Building | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	224,122
Total Real Estate, Net	$ 48,668
Annualized Base Rent	$ 3,669
Average Annualized Base Rent per sq. ft. | $ / ft²	30.64
Occupancy	53.40%
Commonwealth Building | Assets, Total | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of Total Assets	35.20%
The Offices at Greenhouse | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	203,284
Total Real Estate, Net	$ 35,194
Annualized Base Rent	$ 4,212
Average Annualized Base Rent per sq. ft. | $ / ft²	20.72
Occupancy	100.00%
The Offices at Greenhouse | Assets, Total | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of Total Assets	25.50%
Institute Property | Assets, Total
Concentration Risk [Line Items]
Rentable Square Feet | ft²	155,385
Total Real Estate, Net	$ 34,777
Annualized Base Rent	$ 3,161
Average Annualized Base Rent per sq. ft. | $ / ft²	28.28
Occupancy	71.90%
Institute Property | Assets, Total | Customer Concentration Risk
Concentration Risk [Line Items]
Percentage of Total Assets	25.20%

REAL ESTATE (Operating Leases)

REAL ESTATE (Operating Leases) (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Operating Leased Assets [Line Items]
Deferred rent recognized	$ (262)	$ (346)	$ 576
Deferred rent receivables	4,100	2,600
Unamortized lease incentives	1,900	100
Other liabilities, at fair value
Operating Leased Assets [Line Items]
Security deposit liability	$ 700	$ 800
Maximum
Operating Leased Assets [Line Items]
Operating leases, term of contract	9 years 2 months 12 days
Weighted Average
Operating Leased Assets [Line Items]
Operating leases, term of contract	3 years 4 months 24 days

REAL ESTATE (Future Minimum Ren

REAL ESTATE (Future Minimum Rental Income) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Real Estate [Abstract]
2022	$ 10,250
2023	9,871
2024	9,133
2025	5,652
2026	4,873
Thereafter	7,738
Total	$ 47,517

REAL ESTATE (Geographic Concent

REAL ESTATE (Geographic Concentration Risk) (Narrative) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)ft²extension$ / ft²
Concentration Risk [Line Items]
Annualized base rent	$ 5,923
Customer Concentration Risk
Concentration Risk [Line Items]
Annualized base rent	$ 2,900
Average annualized base rent per square foot | $ / ft²	21.37
Customer Concentration Risk | Expires on December 31, 2024
Concentration Risk [Line Items]
Tenant lease, extension option | extension	2
Tenant lease, extension period	5 years
Customer Concentration Risk | Revenue Benchmark | AECOM
Concentration Risk [Line Items]
Percentage of annualized base rent	25.00%
Customer Concentration Risk | Rentable Square Feet | Expires on December 31, 2024
Concentration Risk [Line Items]
Net rentable area | ft²	135,727
Customer Concentration Risk | Rentable Square Feet | AECOM
Concentration Risk [Line Items]
Percentage of annualized base rent	23.00%

REAL ESTATE (Highest Tenant Ind

REAL ESTATE (Highest Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) $ in Thousands	12 Months Ended
	Dec. 31, 2021USD ($)tenant
Concentration Risk [Line Items]
Number of Tenants | tenant	56
Annualized Base Rent	$ 5,923
Customer Concentration Risk
Concentration Risk [Line Items]
Annualized Base Rent	$ 2,900
Customer Concentration Risk | Professional, scientific and technical
Concentration Risk [Line Items]
Number of Tenants | tenant	8
Annualized Base Rent	$ 4,481
Customer Concentration Risk | Professional, scientific and technical | Revenue Benchmark
Concentration Risk [Line Items]
Percentage of Annualized Base Rent	38.60%
Customer Concentration Risk | Computer Systems Design and Related Services
Concentration Risk [Line Items]
Number of Tenants | tenant	3
Annualized Base Rent	$ 1,442
Customer Concentration Risk | Computer Systems Design and Related Services | Revenue Benchmark
Concentration Risk [Line Items]
Percentage of Annualized Base Rent	12.40%
Customer Concentration Risk | Industry | Revenue Benchmark
Concentration Risk [Line Items]
Percentage of Annualized Base Rent	51.00%

REAL ESTATE (Impairment of Real

REAL ESTATE (Impairment of Real Estate) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)tenant	Dec. 31, 2020USD ($)
Concentration Risk [Line Items]
Asset impairment charges | $	$ 13.2	$ 5.8
Occupancy rate	75.30%	90.40%
Commonwealth Building
Concentration Risk [Line Items]
Occupancy rate	53.40%
Number of tenants with no renewal lease | tenant	1
Percent Of Rentable Square Footage Of Property With No Renewal Lease	3.00%

TENANT ORIGINATION AND ABSORP_3

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Acquired Finite-Lived Intangible Assets [Line Items]
Below-Market Lease Liabilities, Cost	$ (2,704)	$ (5,114)
Below-Market Lease Liabilities, Accumulated Amortization	1,866	3,605
Below-Market Lease Liabilities, Net Amount	(838)	(1,509)
Tenant Origination and Absorption Costs, Amortization	(1,682)	(2,069)	$ (2,576)
Above-Market Lease Assets, Amortization	(20)	(28)	(30)
Below-Market Lease Liabilities, Amortization	671	1,024	$ 1,278
Tenant Origination and Absorption Costs
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	7,873	11,068
Accumulated Amortization	(4,768)	(6,210)
Net Amount	3,105	4,858
Above-Market Lease Assets
Acquired Finite-Lived Intangible Assets [Line Items]
Cost	178	177
Accumulated Amortization	(106)	(85)
Net Amount	$ 72	$ 92

TENANT ORIGINATION AND ABSORP_4

TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Remaining Unamortized Balance) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020
Fiscal Year Maturity
2022	$ 364
2023	183
2024	118
2025	79
2026	73
Thereafter	21
Net Amount	838	$ 1,509
Tenant Origination and Absorption Costs
Fiscal Year Maturity
2022	(1,238)
2023	(872)
2024	(737)
2025	(125)
2026	(101)
Thereafter	(32)
Net Amount	$ (3,105)	(4,858)
Fiscal Year Maturity
Weighted-Average Remaining Amortization Period	3 years
Above-Market Lease Assets
Fiscal Year Maturity
2022	$ (21)
2023	(21)
2024	(20)
2025	(7)
2026	(3)
Thereafter	0
Net Amount	$ (72)	$ (92)
Fiscal Year Maturity
Weighted-Average Remaining Amortization Period	3 years 7 months 6 days
Below-Market Lease Liabilities
Fiscal Year Maturity
Weighted-Average Remaining Amortization Period	3 years 4 months 24 days

NOTES PAYABLE (Schedule of Long

NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) $ in Thousands	Jul. 05, 2021	Dec. 31, 2021USD ($)extension	Dec. 31, 2020USD ($)
Debt Instrument [Line Items]
Notes payable principal outstanding		$ 101,666	$ 96,994
Deferred financing costs, net		(212)	(371)
Notes payable, net		$ 101,454	96,623
Term Loan | Secured Debt | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.00%
210 W. Chicago Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		2.20%
Mortgages | Commonwealth Building Mortgage Loan
Debt Instrument [Line Items]
Notes payable principal outstanding		$ 45,681	45,681
Effective Interest Rate		3.74%
Maturity Date		Feb. 1, 2023
Number of extensions | extension		2
Extension period		1 year
Mortgages | Commonwealth Building Mortgage Loan | Minimum
Debt Instrument [Line Items]
Effective Interest Rate		2.05%
Mortgages | Commonwealth Building Mortgage Loan | One-month LIBOR
Debt Instrument [Line Items]
Basis spread on variable rate		1.80%
Mortgages | 210 W. Chicago Mortgage Loan
Debt Instrument [Line Items]
Notes payable principal outstanding		$ 3,725	3,763
Effective Interest Rate		2.33%
Maturity Date		Jun. 28, 2024
Amortization schedule	25 years
Interest rate	6.00%
Secured Debt | Term Loan
Debt Instrument [Line Items]
Notes payable principal outstanding		$ 52,260	$ 47,550
Notes payable, net		$ 34,900
Effective Interest Rate		2.10%
Maturity Date		Nov. 9, 2022
Secured Debt | Term Loan | Revolving Credit Facility
Debt Instrument [Line Items]
Loan, amount outstanding		$ 17,400

NOTES PAYABLE (Narrative) (Deta

NOTES PAYABLE (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Debt Instrument [Line Items]
Interest expense	$ 2,343	$ 4,965	$ 7,032
Interest payable, current	300	300
Amortization of deferred financing costs	237	309	357
Interest Rate Swap | Not Designated as Hedging Instrument
Debt Instrument [Line Items]
(Decrease) increase in interest expense as a result of derivatives	(3)	2,115	1,641
Interest Expense
Debt Instrument [Line Items]
Amortization of deferred financing costs	$ 200	$ 300	$ 400

NOTES PAYABLE (Schedule of Matu

NOTES PAYABLE (Schedule of Maturities of Long-Term Debt) (Details) - USD ($) $ in Thousands	Dec. 31, 2021	Dec. 31, 2020
Debt Disclosure [Abstract]
2022	$ 52,334
2023	45,755
2024	3,577
2025	0
2026	0
Thereafter	0
Total notes payable principal outstanding	$ 101,666	$ 96,994

DERIVATIVE INSTRUMENTS (Notiona

DERIVATIVE INSTRUMENTS (Notional Amount) (Details) - Derivative instruments not designated as hedging instruments - Interest Rate Swap	12 Months Ended
	Dec. 31, 2021USD ($)investment	Dec. 31, 2020USD ($)investment
Derivative [Line Items]
Number of Instruments	1	2
Notional Amount | $	$ 30,000,000	$ 78,533,000
Fixed rate	2.82%
Weighted-Average Remaining Term in Years	10 months 24 days
Derivative, Number of Instruments Matured	1
One-month LIBOR
Derivative [Line Items]
Reference Rate	2.82%

DERIVATIVE INSTRUMENTS (Balance

DERIVATIVE INSTRUMENTS (Balance Sheet) (Details) - Derivative instruments not designated as hedging instruments - Interest Rate Swap $ in Thousands	Dec. 31, 2021USD ($)investment	Dec. 31, 2020USD ($)investment
Derivative [Line Items]
Number of Instruments	1	2
Other liabilities, at fair value
Derivative [Line Items]
Number of Instruments	1	2
Liability, Fair Value | $	$ (610)	$ (2,239)

DERIVATIVE INSTRUMENTS (Stateme

DERIVATIVE INSTRUMENTS (Statement of Operations) (Details) - Derivative instruments not designated as hedging instruments - Interest Rate Swap - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Derivative [Line Items]
Realized loss recognized on interest rate swaps	$ 1,626	$ 1,380	$ 46
Unrealized (gain) loss on interest rate swaps	(1,629)	735	1,595
(Decrease) increase in interest expense as a result of derivatives	$ (3)	$ 2,115	$ 1,641

FAIR VALUE DISCLOSURES (Values)

FAIR VALUE DISCLOSURES (Values) (Details) - USD ($)	Dec. 31, 2021	Dec. 31, 2020
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Face Value	$ 101,666,000	$ 96,994,000
Carrying Amount
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	101,454,000	96,623,000
Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Notes payable, Value	$ 100,367,000	$ 95,036,000

FAIR VALUE DISCLOSURES (Schedul

FAIR VALUE DISCLOSURES (Schedule of Assets and Liabilities at Fair Value) (Details) $ in Thousands	Dec. 31, 2021USD ($)
Recurring Basis | Interest Rate Swap
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	$ (610)
Recurring Basis | Interest Rate Swap | 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 Swap | Significant Other Observable Inputs (Level 2)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Liability derivative - interest rate swaps	(610)
Recurring Basis | Interest Rate Swap | 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	50,000
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
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
Nonrecurring Basis | Significant Unobservable Inputs (Level 3)
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Impaired real estate	$ 50,000

FAIR VALUE DISCLOSURES - Additi

FAIR VALUE DISCLOSURES - Additional Information (Details)	Dec. 31, 2021
Discount Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired real estate, measurement input	8.50%
Terminal Cap Rate
Fair Value Measurement Inputs and Valuation Techniques [Line Items]
Impaired real estate, measurement input	6.25%

RELATED PARTY TRANSACTIONS (Nar

RELATED PARTY TRANSACTIONS (Narrative) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Payment for administrative fees	$ 300	$ 300	$ 200
Limit of total operating expenses as a percent of average invested assets	2.00%
Limit of total operating expenses as a percent of net income for the four most recently completed fiscal quarters	25.00%
Due to affiliates	$ 9,006	7,275
KBS Holdings
Related Party Transaction [Line Items]
Ownership percentage	33.33%
KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Ownership percentage	33.33%
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Due to affiliates	$ 9,006	7,275
Advisor and Dealer Manager | Advisor Advance for Cash Distributions
Related Party Transaction [Line Items]
Due to affiliates	$ 1,338	$ 1,338

RELATED PARTY TRANSACTIONS (Rel

RELATED PARTY TRANSACTIONS (Related-party Costs) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Related Party Transaction [Line Items]
Receivable as of	$ 276	$ 0
Payable as of	9,006	7,275
Advisor and Dealer Manager
Related Party Transaction [Line Items]
Incurred	2,127	2,530	$ 2,261
Receivable as of	276	0
Payable as of	9,006	7,275
Advisor and Dealer Manager | Asset Management Fees
Related Party Transaction [Line Items]
Expenses	1,740	1,729	1,898
Receivable as of	0	0
Payable as of	7,641	5,901
Advisor and Dealer Manager | Reimbursable Operating Expenses
Related Party Transaction [Line Items]
Expenses	273	284	198
Receivable as of	276	0
Payable as of	19	25
Advisor and Dealer Manager | Property Management Fees
Related Party Transaction [Line Items]
Expenses	114	136	165
Receivable as of	0	0
Payable as of	8	11
Advisor and Dealer Manager | Disposition Fees
Related Party Transaction [Line Items]
Expenses	0	381	0
Receivable as of	0	0
Payable as of	0	0
Advisor and Dealer Manager | Advisor Advance for Cash Distributions
Related Party Transaction [Line Items]
Incurred	0	0	$ 0
Receivable as of	0	0
Payable as of	$ 1,338	$ 1,338
KBS Capital Advisors LLC | Cost of Investments
Related Party Transaction [Line Items]
Asset management fee, percent fee	1.00%

RELATED PARTY TRANSACTIONS (Rea

RELATED PARTY TRANSACTIONS (Real Estate Property Co-Management Agreement) (Details) - KBS Management Group, LLC	12 Months Ended
	Dec. 31, 2021
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
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%

RELATED PARTY TRANSACTIONS (Org

RELATED PARTY TRANSACTIONS (Organization and Offering Costs) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2021USD ($)
Second Private Offering | KBS Capital Advisors LLC
Related Party Transaction [Line Items]
Incurred	$ 5.5
Maximum
Related Party Transaction [Line Items]
Reimbursable offering costs determination, gross offering costs, percentage	15.00%

SUBSEQUENT EVENTS (Details)

SUBSEQUENT EVENTS (Details)	Mar. 29, 2022
Subsequent Event | Maximum
Subsequent Event [Line Items]
Plan of liquidation, approval period	90 days

SCHEDULE III REAL ESTATE ASSE_2

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019	Dec. 31, 2018
Real Estate and Accumulated Depreciation [Line Items]
Gross Amount at which Carried at Close of Period, Total	$ 138,277	$ 167,352	$ 193,733	$ 190,751
Accumulated Depreciation and Amortization	(15,101)	(24,716)	$ (24,696)	$ (17,116)
Aggregate cost of real estate for federal income tax purposes	177,800
Notes payable principal outstanding	101,666	$ 96,994
Held-for-Investment
Real Estate and Accumulated Depreciation [Line Items]
Initial Cost to Company, Land	22,517
Initial Cost to Company, Building and Improvements	148,765
Initial Cost to Company, Total	171,282
Cost Capitalized Subsequent to Acquisition	(33,005)
Gross Amount at which Carried at Close of Period, Land	19,822
Gross Amount at which Carried at Close of Period, Building and Improvements	118,455
Gross Amount at which Carried at Close of Period, Total	138,277
Accumulated Depreciation and Amortization	$ (15,101)
Held-for-Investment | Commonwealth Building
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 45,681
Initial Cost to Company, Land	7,300
Initial Cost to Company, Building and Improvements	66,544
Initial Cost to Company, Total	73,844
Cost Capitalized Subsequent to Acquisition	(25,176)
Gross Amount at which Carried at Close of Period, Land	5,769
Gross Amount at which Carried at Close of Period, Building and Improvements	42,899
Gross Amount at which Carried at Close of Period, Total	48,668
Accumulated Depreciation and Amortization	$ 0
Original Date of Construction	1948
Date Acquired	Jun. 30, 2016
Held-for-Investment | The Offices at Greenhouse
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 5,009
Initial Cost to Company, Building and Improvements	41,595
Initial Cost to Company, Total	46,604
Cost Capitalized Subsequent to Acquisition	700
Gross Amount at which Carried at Close of Period, Land	5,009
Gross Amount at which Carried at Close of Period, Building and Improvements	42,295
Gross Amount at which Carried at Close of Period, Total	47,304
Accumulated Depreciation and Amortization	$ (12,110)
Original Date of Construction	2014
Date Acquired	Nov. 14, 2016
Held-for-Investment | Institute Property
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Initial Cost to Company, Land	$ 8,400
Initial Cost to Company, Building and Improvements	37,654
Initial Cost to Company, Total	46,054
Cost Capitalized Subsequent to Acquisition	(8,492)
Gross Amount at which Carried at Close of Period, Land	7,236
Gross Amount at which Carried at Close of Period, Building and Improvements	30,326
Gross Amount at which Carried at Close of Period, Total	37,562
Accumulated Depreciation and Amortization	$ (2,785)
Original Date of Construction	1908
Date Acquired	Nov. 9, 2017
Held-for-Investment | 210 W. Chicago
Real Estate and Accumulated Depreciation [Line Items]
Ownership Percent	100.00%
Encumbrances	$ 3,725
Initial Cost to Company, Land	1,808
Initial Cost to Company, Building and Improvements	2,972
Initial Cost to Company, Total	4,780
Cost Capitalized Subsequent to Acquisition	(37)
Gross Amount at which Carried at Close of Period, Land	1,808
Gross Amount at which Carried at Close of Period, Building and Improvements	2,935
Gross Amount at which Carried at Close of Period, Total	4,743
Accumulated Depreciation and Amortization	$ (206)
Original Date of Construction	1913/2000
Date Acquired	Oct. 5, 2020

SCHEDULE III REAL ESTATE ASSE_3

SCHEDULE III REAL ESTATE ASSETS AND ACCUMULATED DEPRECIATION AND AMORTIZATION (Reconciliation) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2021	Dec. 31, 2020	Dec. 31, 2019
Real Estate:
Balance at the beginning of the year	$ 167,352	$ 193,733	$ 190,751
Acquisitions	0	4,780	0
Improvements	736	938	3,962
Write off of fully depreciated and fully amortized assets	(16,816)	(5,767)	(980)
Impairments	(12,995)	(5,677)	0
Sale	0	(20,655)	0
Balance at the end of the year	138,277	167,352	193,733
Accumulated depreciation and amortization:
Balance at the beginning of the year	24,716	24,696	17,116
Depreciation and amortization expense	7,201	7,795	8,560
Write off of fully depreciated and fully amortized assets	(16,816)	(5,767)	(980)
Sale	0	(2,008)	0
Balance at the end of the year	$ 15,101	$ 24,716	$ 24,696