v2.4.1.9
Document and Entity Information Document
6 Months Ended
Jun. 30, 2015
Aug. 07, 2015
Document and Entity Information [Abstract]    
Entity Registrant Name KBS Real Estate Investment Trust, Inc.  
Entity Central Index Key 0001330622  
Current Fiscal Year End Date --12-31  
Entity Filer Category Non-accelerated Filer  
Document Type 10-Q  
Document Period End Date Jun. 30, 2015  
Document Fiscal Year Focus 2015  
Document Fiscal Period Focus Q2  
Amendment Flag false  
Entity Common Stock, Shares Outstanding   187,063,080dei_EntityCommonStockSharesOutstanding
v2.4.1.9
CONSOLIDATED BALANCE SHEETS (Unaudited) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Real estate held for investment:    
Land $ 265,278us-gaap_Land $ 265,278us-gaap_Land
Buildings and improvements 812,033us-gaap_InvestmentBuildingAndBuildingImprovements 800,876us-gaap_InvestmentBuildingAndBuildingImprovements
Tenant origination and absorption costs 77,478kbsreiti_TenantOriginationAndAbsorptionCostsGross 79,050kbsreiti_TenantOriginationAndAbsorptionCostsGross
Total real estate held for investment, at cost and net of impairment charges 1,154,789us-gaap_RealEstateInvestmentPropertyAtCost 1,145,204us-gaap_RealEstateInvestmentPropertyAtCost
Less accumulated depreciation and amortization (196,120)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation (175,047)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
Total real estate held for investment, net 958,669us-gaap_RealEstateInvestmentPropertyNet 970,157us-gaap_RealEstateInvestmentPropertyNet
Real estate held for sale, net 0us-gaap_RealEstateHeldforsale 148,354us-gaap_RealEstateHeldforsale
Foreclosed real estate held for sale 0kbsreiti_ForeclosedRealEstateHeldForSale 12,045kbsreiti_ForeclosedRealEstateHeldForSale
Total real estate, net 958,669kbsreiti_TotalRealEstate 1,130,556kbsreiti_TotalRealEstate
Real estate loans receivable, net 29,335us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet 28,922us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet
Total real estate and real estate-related investments, net 988,004kbsreiti_RealEstateAndRealEstateRelatedInvestmentsNet 1,159,478kbsreiti_RealEstateAndRealEstateRelatedInvestmentsNet
Cash and cash equivalents 133,609us-gaap_CashAndCashEquivalentsAtCarryingValue 58,675us-gaap_CashAndCashEquivalentsAtCarryingValue
Restricted cash 50,212us-gaap_RestrictedCashAndCashEquivalents 62,755us-gaap_RestrictedCashAndCashEquivalents
Rents and other receivables, net 35,235us-gaap_AccountsReceivableNet 37,604us-gaap_AccountsReceivableNet
Above-market leases, net 19,582kbsreiti_AboveMarketLeasesNet 21,678kbsreiti_AboveMarketLeasesNet
Assets related to real estate held for sale 0us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation 10,462us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation
Deferred financing costs, prepaid expenses and other assets, net 23,773kbsreiti_DeferredFinancingCostsPrepaidExpensesAndOtherAssets 25,515kbsreiti_DeferredFinancingCostsPrepaidExpensesAndOtherAssets
Total assets 1,250,415us-gaap_Assets 1,376,167us-gaap_Assets
Notes payable:    
Notes payable 534,744kbsreiti_NotesPayableExcludingNotesPayableForRealEstateHeldForSale 578,129kbsreiti_NotesPayableExcludingNotesPayableForRealEstateHeldForSale
Notes payable related to real estate held for sale 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation 79,969us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
Total notes payable 534,744us-gaap_NotesPayable 658,098us-gaap_NotesPayable
Accounts payable and accrued liabilities 23,671us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent 22,579us-gaap_AccountsPayableAndAccruedLiabilitiesCurrentAndNoncurrent
Due to affiliates 33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent 444us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
Distributions payable 0us-gaap_DividendsPayableCurrentAndNoncurrent 4,699us-gaap_DividendsPayableCurrentAndNoncurrent
Below-market leases, net 32,715us-gaap_OffMarketLeaseUnfavorable 38,075us-gaap_OffMarketLeaseUnfavorable
Liabilities related to real estate held for sale 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale 3,087kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale
Other liabilities 30,620us-gaap_OtherLiabilities 36,412us-gaap_OtherLiabilities
Total liabilities 621,783us-gaap_Liabilities 763,394us-gaap_Liabilities
Commitments and contingencies (Note 13)      
Redeemable common stock 6,891us-gaap_TemporaryEquityCarryingAmountAttributableToParent 10,000us-gaap_TemporaryEquityCarryingAmountAttributableToParent
Stockholders’ equity    
Preferred stock, $.01 par value; 10,000,000 shares authorized, no shares issued and outstanding 0us-gaap_PreferredStockValue 0us-gaap_PreferredStockValue
Common stock, $.01 par value; 1,000,000,000 shares authorized, 187,157,793 and 187,845,515 shares issued and outstanding as of June 30, 2015 and December 31, 2014, respectively 1,872us-gaap_CommonStockValue 1,879us-gaap_CommonStockValue
Additional paid-in capital 1,662,490us-gaap_AdditionalPaidInCapital 1,662,483us-gaap_AdditionalPaidInCapital
Cumulative distributions and net losses (1,042,621)us-gaap_AccumulatedDistributionsInExcessOfNetIncome (1,061,589)us-gaap_AccumulatedDistributionsInExcessOfNetIncome
Total stockholders’ equity 621,741us-gaap_StockholdersEquity 602,773us-gaap_StockholdersEquity
Total liabilities and stockholders' equity $ 1,250,415us-gaap_LiabilitiesAndStockholdersEquity $ 1,376,167us-gaap_LiabilitiesAndStockholdersEquity
v2.4.1.9
CONSOLIDATED BALANCE SHEETS (Parenthetical) (Unaudited) (USD $)
Jun. 30, 2015
Dec. 31, 2014
Statement of Financial Position [Abstract]    
Preferred stock, par value (in dollars per share) $ 0.01us-gaap_PreferredStockParOrStatedValuePerShare $ 0.01us-gaap_PreferredStockParOrStatedValuePerShare
Preferred stock, shares authorized 10,000,000us-gaap_PreferredStockSharesAuthorized 10,000,000us-gaap_PreferredStockSharesAuthorized
Preferred stock, shares issued 0us-gaap_PreferredStockSharesIssued 0us-gaap_PreferredStockSharesIssued
Preferred stock, shares outstanding 0us-gaap_PreferredStockSharesOutstanding 0us-gaap_PreferredStockSharesOutstanding
Common stock, par value (in dollars per share) $ 0.01us-gaap_CommonStockParOrStatedValuePerShare $ 0.01us-gaap_CommonStockParOrStatedValuePerShare
Common stock, shares authorized 1,000,000,000us-gaap_CommonStockSharesAuthorized 1,000,000,000us-gaap_CommonStockSharesAuthorized
Common stock, shares issued 187,157,793us-gaap_CommonStockSharesIssued 187,845,515us-gaap_CommonStockSharesIssued
Common stock, shares outstanding 187,157,793us-gaap_CommonStockSharesOutstanding 187,845,515us-gaap_CommonStockSharesOutstanding
v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues:        
Rental income $ 32,432us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 38,618us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 67,797us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 77,762us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Tenant reimbursements 11,133us-gaap_TenantReimbursements 14,073us-gaap_TenantReimbursements 23,688us-gaap_TenantReimbursements 27,131us-gaap_TenantReimbursements
Interest income from real estate loans receivable 741us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 814us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 1,467us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 1,615us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate
Parking revenues and other operating income 660us-gaap_OtherRealEstateRevenue 956us-gaap_OtherRealEstateRevenue 1,592us-gaap_OtherRealEstateRevenue 1,960us-gaap_OtherRealEstateRevenue
Total revenues 44,966us-gaap_Revenues 54,461us-gaap_Revenues 94,544us-gaap_Revenues 108,468us-gaap_Revenues
Expenses:        
Operating, maintenance, and management 17,843us-gaap_CostOfRealEstateRevenue 21,431us-gaap_CostOfRealEstateRevenue 39,833us-gaap_CostOfRealEstateRevenue 42,830us-gaap_CostOfRealEstateRevenue
Real estate taxes, property-related taxes, and insurance 5,865us-gaap_RealEstateTaxesAndInsurance 6,758us-gaap_RealEstateTaxesAndInsurance 12,646us-gaap_RealEstateTaxesAndInsurance 14,198us-gaap_RealEstateTaxesAndInsurance
Asset management fees to affiliate 2,346us-gaap_AssetManagementCosts 2,530us-gaap_AssetManagementCosts 4,766us-gaap_AssetManagementCosts 5,029us-gaap_AssetManagementCosts
General and administrative expenses 6,047us-gaap_GeneralAndAdministrativeExpense 3,685us-gaap_GeneralAndAdministrativeExpense 8,277us-gaap_GeneralAndAdministrativeExpense 7,329us-gaap_GeneralAndAdministrativeExpense
Depreciation and amortization 14,205us-gaap_DepreciationDepletionAndAmortization 17,961us-gaap_DepreciationDepletionAndAmortization 29,810us-gaap_DepreciationDepletionAndAmortization 35,884us-gaap_DepreciationDepletionAndAmortization
Interest expense 8,084us-gaap_InterestExpense 13,036us-gaap_InterestExpense 16,816us-gaap_InterestExpense 26,581us-gaap_InterestExpense
Impairment charge on real estate held for investment 0us-gaap_ImpairmentOfRealEstate 939us-gaap_ImpairmentOfRealEstate 0us-gaap_ImpairmentOfRealEstate 2,196us-gaap_ImpairmentOfRealEstate
Provision for Loan and Lease Losses 0us-gaap_ProvisionForLoanAndLeaseLosses 1,973us-gaap_ProvisionForLoanAndLeaseLosses 0us-gaap_ProvisionForLoanAndLeaseLosses 1,973us-gaap_ProvisionForLoanAndLeaseLosses
Total expenses 54,390us-gaap_CostsAndExpenses 68,313us-gaap_CostsAndExpenses 112,148us-gaap_CostsAndExpenses 136,020us-gaap_CostsAndExpenses
Other income and loss        
Gain on sales of real estate securities (includes $0.7 million and $4.5 million of unrealized gains reclassified from accumulated other comprehensive income during the three and six months ended June 30, 2014, respectively) 0kbsreiti_GainOnSaleOfRealEstateSecurities 662kbsreiti_GainOnSaleOfRealEstateSecurities 0kbsreiti_GainOnSaleOfRealEstateSecurities 4,410kbsreiti_GainOnSaleOfRealEstateSecurities
Gain on sales of real estate, net 35,093kbsreiti_GainLossOnSaleOfRealEstate 2,041kbsreiti_GainLossOnSaleOfRealEstate 49,059kbsreiti_GainLossOnSaleOfRealEstate 2,041kbsreiti_GainLossOnSaleOfRealEstate
Gain on sales of foreclosed real estate held for sale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 2,509kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale
Gain from extinguishment of debt (6,385)us-gaap_GainsLossesOnExtinguishmentOfDebt 3,297us-gaap_GainsLossesOnExtinguishmentOfDebt (6,376)us-gaap_GainsLossesOnExtinguishmentOfDebt 5,112us-gaap_GainsLossesOnExtinguishmentOfDebt
Other interest income 120us-gaap_InvestmentIncomeInterest 130us-gaap_InvestmentIncomeInterest 241us-gaap_InvestmentIncomeInterest 297us-gaap_InvestmentIncomeInterest
Other income 354us-gaap_OtherNonoperatingIncomeExpense 62us-gaap_OtherNonoperatingIncomeExpense 349us-gaap_OtherNonoperatingIncomeExpense 365us-gaap_OtherNonoperatingIncomeExpense
Total other income 29,182us-gaap_OtherIncome 6,192us-gaap_OtherIncome 45,782us-gaap_OtherIncome 12,225us-gaap_OtherIncome
Income (loss) from continuing operations 19,758us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (7,660)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest 28,178us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (15,327)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations:        
Gain on sales of real estate, net 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 89us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 124us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 3,006us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
(Loss) income from discontinued operations (7)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 38us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 234us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Impairment charges on discontinued operations 0us-gaap_DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax (81)us-gaap_DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax 0us-gaap_DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax (81)us-gaap_DiscontinuedOperationProvisionForLossGainOnDisposalNetOfTax
Total (loss) income from discontinued operations (7)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 8us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 162us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 3,159us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income (loss) $ 19,751us-gaap_ProfitLoss $ (7,652)us-gaap_ProfitLoss $ 28,340us-gaap_ProfitLoss $ (12,168)us-gaap_ProfitLoss
Basic and diluted income (loss) per common share:        
Continuing operations (in dollars per share) $ 0.11us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.04)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ 0.15us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare $ (0.08)us-gaap_IncomeLossFromContinuingOperationsPerBasicAndDilutedShare
Discontinued operations (in dollars per share) $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0.00us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare $ 0.02us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTaxPerBasicAndDilutedShare
Net income (loss) per common share (in dollars per share) $ 0.11us-gaap_EarningsPerShareBasicAndDiluted $ (0.04)us-gaap_EarningsPerShareBasicAndDiluted $ 0.15us-gaap_EarningsPerShareBasicAndDiluted $ (0.06)us-gaap_EarningsPerShareBasicAndDiluted
Weighted-average number of common shares outstanding, basic and diluted 187,389,195us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 189,152,147us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 187,552,869us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted 189,316,544us-gaap_WeightedAverageNumberOfShareOutstandingBasicAndDiluted
v2.4.1.9
CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) (Parenthetical) (USD $)
In Millions, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2014
Jun. 30, 2014
Income Statement [Abstract]    
Unrealized gains on real estate securities reclassified from accumulated other comprehensive income $ 0.7us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments $ 4.5us-gaap_AvailableforsaleSecuritiesGrossRealizedGainLossExcludingOtherThanTemporaryImpairments
v2.4.1.9
CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (Unaudited) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Statement of Comprehensive Income [Abstract]        
Net income (loss) $ 19,751us-gaap_ProfitLoss $ (7,652)us-gaap_ProfitLoss $ 28,340us-gaap_ProfitLoss $ (12,168)us-gaap_ProfitLoss
Other comprehensive loss        
Reclassification of realized gain on real estate securities 0us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax (669)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax 0us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax (4,452)us-gaap_OtherComprehensiveIncomeLossReclassificationAdjustmentFromAOCIForSaleOfSecuritiesNetOfTax
Unrealized change in market value of real estate securities 0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax 36us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax 0us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax (100)us-gaap_OtherComprehensiveIncomeUnrealizedHoldingGainLossOnSecuritiesArisingDuringPeriodNetOfTax
Total other comprehensive loss 0us-gaap_OtherComprehensiveIncomeLossNetOfTax (633)us-gaap_OtherComprehensiveIncomeLossNetOfTax 0us-gaap_OtherComprehensiveIncomeLossNetOfTax (4,552)us-gaap_OtherComprehensiveIncomeLossNetOfTax
Total comprehensive income (loss) $ 19,751us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $ (8,285)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $ 28,340us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest $ (16,720)us-gaap_ComprehensiveIncomeNetOfTaxIncludingPortionAttributableToNoncontrollingInterest
v2.4.1.9
CONSOLIDATED STATEMENTS OF EQUITY (Unaudited) (USD $)
In Thousands, except Share data, unless otherwise specified
Total
Common Stock [Member]
Additional Paid-in Capital [Member]
Cumulative Distributions and Net Income (Loss) [Member]
Accumulated Other Comprehensive Income (Loss) [Member]
Balance at Jan. 26, 2006          
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Redemptions of common stock, shares   (12,277,787)us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Redemptions of common stock   $ (88,600)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Balance at Jun. 30, 2015   1,872us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
    0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
Balance, shares at Jun. 30, 2015   187,157,793us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Balance at Dec. 31, 2013 645,893us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,896us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
1,670,356us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(1,030,911)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
4,552us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
Balance, shares at Dec. 31, 2013   189,616,701us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) (21,266)us-gaap_ProfitLoss     (21,266)us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
 
Other comprehensive income (4,552)us-gaap_OtherComprehensiveIncomeLossNetOfTax       (4,552)us-gaap_OtherComprehensiveIncomeLossNetOfTax
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
Redemptions of common stock, shares   (1,771,186)us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Redemptions of common stock (7,890)us-gaap_StockRedeemedOrCalledDuringPeriodValue (17)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(7,873)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
   
Distributions declared (9,412)us-gaap_DividendsCommonStock     (9,412)us-gaap_DividendsCommonStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
 
Balance at Dec. 31, 2014 602,773us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest 1,879us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
1,662,483us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
(1,061,589)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
Balance, shares at Dec. 31, 2014 187,845,515us-gaap_CommonStockSharesOutstanding 187,845,515us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Increase (Decrease) in Stockholders' Equity [Roll Forward]          
Net income (loss) 28,340us-gaap_ProfitLoss     28,340us-gaap_ProfitLoss
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
 
Other comprehensive income 0us-gaap_OtherComprehensiveIncomeLossNetOfTax        
Redemptions of common stock, shares   (687,722)us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Redemptions of common stock (3,108)us-gaap_StockRedeemedOrCalledDuringPeriodValue (7)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
(3,101)us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
   
Transfers from redeemable common stock 3,108kbsreiti_AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock   3,108kbsreiti_AdjustmentsToAdditionalPaidInCapitalTransfersFromRedeemableCommonStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
   
Distributions declared (9,372)us-gaap_DividendsCommonStock     (9,372)us-gaap_DividendsCommonStock
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
 
Balance at Jun. 30, 2015 $ 621,741us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest $ 1,872us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
$ 1,662,490us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AdditionalPaidInCapitalMember
$ (1,042,621)us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedDistributionsInExcessOfNetIncomeMember
$ 0us-gaap_StockholdersEquityIncludingPortionAttributableToNoncontrollingInterest
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_AccumulatedOtherComprehensiveIncomeMember
Balance, shares at Jun. 30, 2015 187,157,793us-gaap_CommonStockSharesOutstanding 187,157,793us-gaap_CommonStockSharesOutstanding
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
v2.4.1.9
CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Cash Flows from Operating Activities:    
Net income (loss) $ 28,340us-gaap_ProfitLoss $ (12,168)us-gaap_ProfitLoss
Adjustments to reconcile net income (loss) to net cash provided by operating activities:    
Depreciation and amortization 29,810us-gaap_DepreciationDepletionAndAmortization 35,884us-gaap_DepreciationDepletionAndAmortization
Impairment charge on real estate - continuing operations 0us-gaap_ImpairmentOfRealEstate 2,196us-gaap_ImpairmentOfRealEstate
Impairment charge on real estate - discontinued operations 0us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf 81us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf
Noncash interest income on real estate-related investments (491)kbsreiti_NoncashInterestIncomeOnRealEstateRelatedInvestments (504)kbsreiti_NoncashInterestIncomeOnRealEstateRelatedInvestments
Increase (decrease) in provision for loan losses 0kbsreiti_IncreaseDecreaseInProvisionForLoanLosses 1,973kbsreiti_IncreaseDecreaseInProvisionForLoanLosses
Deferred rent (935)us-gaap_RecognitionOfDeferredRevenue (1,731)us-gaap_RecognitionOfDeferredRevenue
Bad debt expense 368us-gaap_ProvisionForDoubtfulAccounts 1,617us-gaap_ProvisionForDoubtfulAccounts
Amortization of deferred financing costs 1,259us-gaap_AmortizationOfFinancingCosts 756us-gaap_AmortizationOfFinancingCosts
Deferred interest 0kbsreiti_DeferredInterestPayable 597kbsreiti_DeferredInterestPayable
Amortization of above- and below-market leases, net (4,081)us-gaap_AmortizationOfAboveAndBelowMarketLeases (4,267)us-gaap_AmortizationOfAboveAndBelowMarketLeases
Gain on sales of foreclosed real estate held for sale (2,509)kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale
Gain on sales of real estate, net (49,183)kbsreiti_GainLossonDisposalofDiscontinuedandContinuedOperationNetofTax (5,047)kbsreiti_GainLossonDisposalofDiscontinuedandContinuedOperationNetofTax
Gain on sales of real estate securities 0kbsreiti_GainOnSaleOfRealEstateSecurities (4,410)kbsreiti_GainOnSaleOfRealEstateSecurities
Loss (gain) on extinguishment of debt 6,376us-gaap_GainsLossesOnExtinguishmentOfDebt (5,112)us-gaap_GainsLossesOnExtinguishmentOfDebt
Amortization of discounts and premiums on notes payable, net 867us-gaap_AmortizationOfDebtDiscountPremium 2,137us-gaap_AmortizationOfDebtDiscountPremium
Changes in operating assets and liabilities:    
Restricted cash for operational expenditures 8,030us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities 9,559us-gaap_IncreaseDecreaseInRestrictedCashForOperatingActivities
Rents and other receivables 3,020us-gaap_IncreaseDecreaseInAccountsReceivable (4,008)us-gaap_IncreaseDecreaseInAccountsReceivable
Prepaid expenses and other assets (575)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets (1,642)us-gaap_IncreaseDecreaseInPrepaidDeferredExpenseAndOtherAssets
Accounts payable and accrued liabilities 3,454us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities (815)us-gaap_IncreaseDecreaseInAccountsPayableAndAccruedLiabilities
Due to affiliates (12)us-gaap_IncreaseDecreaseInDueToRelatedParties 0us-gaap_IncreaseDecreaseInDueToRelatedParties
Other liabilities (5,693)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities (4,060)us-gaap_IncreaseDecreaseInOtherOperatingLiabilities
Net cash provided by operating activities 18,045us-gaap_NetCashProvidedByUsedInOperatingActivities 11,036us-gaap_NetCashProvidedByUsedInOperatingActivities
Cash Flows from Investing Activities:    
Improvements to real estate (19,024)us-gaap_PaymentsForCapitalImprovements (10,331)us-gaap_PaymentsForCapitalImprovements
Proceeds from sales of real estate, net 204,943us-gaap_ProceedsFromSaleOfRealEstate 86,753us-gaap_ProceedsFromSaleOfRealEstate
Proceeds from sales of foreclosed real estate held for sale 14,155us-gaap_ProceedsFromSaleOfForeclosedAssets 0us-gaap_ProceedsFromSaleOfForeclosedAssets
Principal repayments on real estate loans receivable 78us-gaap_ProceedsFromCollectionOfLoansReceivable 70us-gaap_ProceedsFromCollectionOfLoansReceivable
Proceeds from sale of real estate securities 0us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities 7,831us-gaap_ProceedsFromSaleAndMaturityOfAvailableForSaleSecurities
Net change in restricted cash for capital expenditures 3,735us-gaap_IncreaseDecreaseInRestrictedCash (248)us-gaap_IncreaseDecreaseInRestrictedCash
Net cash provided by investing activities 203,887us-gaap_NetCashProvidedByUsedInInvestingActivities 84,075us-gaap_NetCashProvidedByUsedInInvestingActivities
Cash Flows from Financing Activities:    
Proceeds from notes payable 0us-gaap_ProceedsFromNotesPayable 42,500us-gaap_ProceedsFromNotesPayable
Principal payments on notes payable (126,207)us-gaap_RepaymentsOfNotesPayable (251,799)us-gaap_RepaymentsOfNotesPayable
Prepayment premium on the repayment of debt (4,390)kbsreiti_PrepaymentPremiumonRepaymentofDebt 0kbsreiti_PrepaymentPremiumonRepaymentofDebt
Net change in restricted cash for debt service obligations 778kbsreiti_RestrictedCashForDebtServiceObligations 587kbsreiti_RestrictedCashForDebtServiceObligations
Payments of deferred financing costs 0us-gaap_PaymentsOfFinancingCosts (1,730)us-gaap_PaymentsOfFinancingCosts
Payments to redeem common stock (3,108)us-gaap_PaymentsForRepurchaseOfCommonStock (3,152)us-gaap_PaymentsForRepurchaseOfCommonStock
Distributions paid to common stockholders (14,071)us-gaap_PaymentsOfDividendsCommonStock 0us-gaap_PaymentsOfDividendsCommonStock
Net cash used in financing activities (146,998)us-gaap_NetCashProvidedByUsedInFinancingActivities (213,594)us-gaap_NetCashProvidedByUsedInFinancingActivities
Net increase (decrease) in cash and cash equivalents 74,934us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease (118,483)us-gaap_CashAndCashEquivalentsPeriodIncreaseDecrease
Cash and cash equivalents, beginning of period 58,675us-gaap_CashAndCashEquivalentsAtCarryingValue 211,391us-gaap_CashAndCashEquivalentsAtCarryingValue
Cash and cash equivalents, end of period $ 133,609us-gaap_CashAndCashEquivalentsAtCarryingValue $ 92,908us-gaap_CashAndCashEquivalentsAtCarryingValue
v2.4.1.9
ORGANIZATION
6 Months Ended
Jun. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]  
ORGANIZATION
ORGANIZATION
KBS Real Estate Investment Trust, Inc. (the “Company”) was formed on June 13, 2005 as a Maryland corporation and has elected to be taxed as a real estate investment trust (“REIT”). Substantially all of the Company’s assets are held by, and the Company conducts substantially all of its operations through, KBS Limited Partnership, a Delaware limited partnership (the “Operating Partnership”), and its subsidiaries. The Company is the sole general partner of and directly owns a 99% partnership interest in the Operating Partnership. The Company’s wholly owned subsidiary, KBS REIT Holdings LLC, a Delaware limited liability company (“KBS REIT Holdings”), owns the remaining 1% partnership interest in the Operating Partnership and is its sole limited partner.
The Company invested in a diverse portfolio of real estate and real estate-related investments. As of June 30, 2015, the Company owned or, with respect to a limited number of properties, held a leasehold interest in, 392 real estate properties, including the GKK Properties (defined below). In addition, as of June 30, 2015, the Company owned four real estate loans receivable and a participation interest with respect to a real estate joint venture.
On September 1, 2011, the Company, through indirect wholly owned subsidiaries (collectively, “KBS”), entered into a Collateral Transfer and Settlement Agreement (the “Settlement Agreement”) with, among other parties, GKK Stars Acquisition LLC (“GKK Stars”), the wholly owned subsidiary of Gramercy Property Trust, Inc. (“Gramercy”) that indirectly owned the Gramercy real estate portfolio, to effect the orderly transfer of certain assets and liabilities of the Gramercy real estate portfolio to KBS in satisfaction of certain debt obligations under a mezzanine loan owed by wholly owned subsidiaries of Gramercy to KBS (the “GKK Mezzanine Loan”). The Settlement Agreement resulted in the transfer of the equity interests in certain subsidiaries of Gramercy (the “Equity Interests”) that indirectly owned or, with respect to a limited number of properties, held a leasehold interest in, 867 properties (the “GKK Properties”), consisting of 576 bank branch properties and 291 office buildings, operations centers and other properties. As of December 15, 2011, GKK Stars had transferred all of the Equity Interests to the Company, giving the Company title to or, with respect to a limited number of GKK Properties, a leasehold interest in, 867 GKK Properties as of that date.
Subject to certain restrictions and limitations, the business of the Company is managed by KBS Capital Advisors LLC (the “Advisor”), an affiliate of the Company, pursuant to an advisory agreement with the Company (as amended, the “Advisory Agreement”) in effect through November 8, 2015. The Advisory Agreement may be renewed for an unlimited number of one-year periods upon the mutual consent of the Advisor and the Company. Either party may terminate the Advisory Agreement upon 60 days written notice. The Advisor owns 20,000 shares of the Company’s common stock.
Upon commencing its initial public offering (the “Offering”), the Company retained KBS Capital Markets Group LLC (the “Dealer Manager”), an affiliate of the Advisor, to serve as the dealer manager of the Offering pursuant to a dealer manager agreement dated January 27, 2006 (the “Dealer Manager Agreement”). The Company ceased offering shares of common stock in its primary offering on May 30, 2008. The Company terminated its dividend reinvestment plan effective April 10, 2012.
The Company sold 171,109,494 shares of common stock in its primary offering for gross offering proceeds of $1.7 billion. The Company sold 28,306,086 shares of common stock under its dividend reinvestment plan for gross offering proceeds of $233.7 million. As of June 30, 2015, the Company had redeemed 12,277,787 of the shares sold in the Offering for $88.6 million.
Asset Management Services Agreement Related to the GKK Properties
On December 19, 2013, the Company, through an indirect wholly owned subsidiary (“KBS Acquisition Sub”), entered into an amended and restated asset management services agreement (the “Amended Services Agreement”) with GKK Realty Advisors LLC (the “Property Manager”), an affiliate of Gramercy, with respect to the GKK Properties. The effective date of the Amended Services Agreement was December 1, 2013. Pursuant to the Amended Services Agreement, the Property Manager agreed to provide, among other services: standard asset management services, assistance related to dispositions, accounting services and budgeting and business plans for the GKK Properties (the “Services”). The Property Manager is not affiliated with the Company or KBS Acquisition Sub. As compensation for the Services, the Company agreed to pay the Property Manager: (i) an annual fee of $7.5 million plus all GKK Property-related expenses incurred by the Property Manager, (ii) subject to certain terms and conditions in the Amended Services Agreement, a profit participation interest based on a percentage (ranging from 10% to 30%) of the amount by which the gross fair market value or gross sales price of certain identified portfolios of GKK Properties exceeds the sum of (a) an agreed-upon baseline value for such GKK Property portfolios plus (b) new capital expended to increase the value of GKK Properties within the portfolios and expenditures made to pay for tenant improvements and leasing commissions related to these GKK Properties as of the measurement date, and (iii) a monthly construction oversight fee equal to a percentage of construction costs for certain construction projects at the GKK Properties overseen by the Property Manager.
The Amended Services Agreement will terminate on December 31, 2016, with a one-year extension option at the Company’s option, subject to certain terms and conditions contained in the Amended Services Agreement. The Amended Services Agreement supersedes and replaces all prior agreements related to the Services among the Company and its affiliates and the Property Manager and its affiliates.
v2.4.1.9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES
There have been no significant changes to the Company’s accounting policies since it filed its audited financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014. For further information about the Company’s accounting policies, refer to the Company’s consolidated financial statements and notes thereto for the year ended December 31, 2014 included in the Company’s Annual Report on Form 10-K filed with the SEC.
Principles of Consolidation and Basis of Presentation
The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
The consolidated financial statements include the accounts of the Company, KBS REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates
The preparation of the consolidated financial statements and condensed 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.
Reclassifications
Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. During the six months ended June 30, 2015, the Company sold six properties (of which four were GKK Properties), two of which were held for sale as of December 31, 2014. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Operating results of properties that were classified as held for sale in financial statements prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statements of operations. Operating results of properties that were disposed of or classified as held for sale in the ordinary course of business subsequent to January 1, 2014 that had not been classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014 are included in continuing operations on the Company’s consolidated statements of operations.
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 during the three and six months ended June 30, 2015 and 2014, respectively.
Distributions declared per share of common stock were $0.025 and $0.050 for the three and six months ended June 30, 2015, respectively. On March 6, 2015, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on March 20, 2015. On May 13, 2015, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on June 19, 2015. No distributions were declared during the three and six months ended June 30, 2014.
Segments
The Company’s segments are based on the Company’s method of internal reporting, which classifies its operations by investment type: (i) real estate, (ii) real estate-related and (iii) commercial properties primarily leased to financial institutions received under the Settlement Agreement, the GKK Properties. For financial data by segment, see Note 12, “Segment Information.”
Recently Issued Accounting Standards Update
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. 
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements.
In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.
In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”).  The amendments in ASU No. 2015-03 require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs.  ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively.  Early adoption is permitted for financial statements that have not been previously issued.  The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets, net on the accompanying consolidated balance sheets.
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT
6 Months Ended
Jun. 30, 2015
Real Estate Held for Investment [Abstract]  
REAL ESTATE HELD FOR INVESTMENT
REAL ESTATE HELD FOR INVESTMENT
As of June 30, 2015, the Company’s portfolio of real estate held for investment, including the GKK Properties, was composed of approximately 9.2 million rentable square feet and was 80% occupied. These properties are located in 31 states and include office properties, industrial properties and bank branch properties. Included in the Company’s portfolio of real estate held for investment was 5.7 million rentable square feet related to the GKK Properties held for investment, which were 81% occupied as of June 30, 2015.
The following table summarizes the Company’s investments in real estate as of June 30, 2015 and December 31, 2014 (in thousands):
 
 
Land
 
Buildings and
Improvements
 
Tenant 
Origination and
Absorption Costs
 
Total Real Estate
Held for 
Investment
As of June 30, 2015:
 
 
 
 
 
 
 
 
Office
 
$
68,178

 
$
410,719

 
$
1,563

 
$
480,460

Industrial
 
16,787

 
82,667

 
2,244

 
101,698

GKK Properties
 
180,313

 
318,647

 
73,671

 
572,631

Real estate held for investment, at cost and net of impairment charges
 
265,278

 
812,033

 
77,478

 
1,154,789

Accumulated depreciation/amortization
 

 
(158,793
)
 
(37,327
)
 
(196,120
)
Real estate held for investment, net
 
$
265,278

 
$
653,240

 
$
40,151

 
$
958,669

As of December 31, 2014:
 
 
 
 
 
 
 
 
Office
 
$
68,178

 
$
401,083

 
$
1,825

 
$
471,086

Industrial
 
16,787

 
80,565

 
3,137

 
100,489

GKK Properties
 
180,313

 
319,228

 
74,088

 
573,629

Real estate held for investment, at cost and net of impairment charges
 
265,278

 
800,876

 
79,050

 
1,145,204

Accumulated depreciation/amortization
 

 
(141,306
)
 
(33,741
)
 
(175,047
)
Real estate held for investment, net
 
$
265,278

 
$
659,570

 
$
45,309

 
$
970,157


Operating Leases
The Company’s real estate assets are leased to tenants under operating leases for which the terms and expirations vary. As of June 30, 2015, the Company’s leases, including the GKK Properties held for investment and excluding options to extend, had remaining terms of up to 11.7 years with a weighted-average remaining term of 4.6 years. As of June 30, 2015, leases related to the GKK Properties, excluding options to extend, had remaining terms of up to 11.7 years with a weighted-average remaining term of 4.6 years. Some of the Company’s 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, rights of first refusal to purchase the property at competitive market rates, and other terms and conditions as negotiated. Additionally, the Company assumed several leases related to the GKK Properties which contain shedding rights provisions. As of June 30, 2015, these shedding rights totaled approximately 33,000 square feet and can be exercised at various dates during the remainder of 2015 through 2016. Pursuant to these rights, as of June 30, 2015, a tenant had notified the Company of its intent to shed 30,000 square feet from its leased premises in September 2015. 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 $2.9 million and $3.0 million as of June 30, 2015 and December 31, 2014, respectively.
During the six months ended June 30, 2015 and 2014, the Company recognized deferred rent from tenants of $0.9 million and $1.7 million, respectively. These excess amounts for the six months ended June 30, 2015 and 2014 were net of $0.7 million and $0.7 million of lease incentive amortization, respectively. As of June 30, 2015 and December 31, 2014, the cumulative deferred rent balance was $29.5 million and $27.4 million, respectively, and is included in rents and other receivables on the accompanying balance sheets. The cumulative deferred rent balance included $6.2 million and $5.7 million of unamortized lease incentives as of June 30, 2015 and December 31, 2014, respectively. The Company records property operating expense reimbursements due from tenants for common area maintenance, real estate taxes and other recoverable costs in the period the related expenses are incurred.
The future minimum rental income from the Company’s properties under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of June 30, 2015 for the years ending December 31 is as follows (in thousands):
July 1, 2015 through December 31, 2015
$
56,749

2016
113,907

2017
105,101

2018
92,065

2019
77,383

Thereafter
198,008

 
$
643,213


As of June 30, 2015, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
Industry
 
Number of
Tenants
 
Annualized
Base Rent
(1)
(in thousands)
 
Percentage of
Annualized Base Rent
Finance
 
72
 
$
56,839

 
48.6
%
_____________________
(1) Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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 June 30, 2015, no other tenant industries accounted for more than 10% of the Company’s annualized base rent. The Company currently has approximately 350 tenants over a diverse range of industries and geographical regions. As of June 30, 2015 and December 31, 2014, the Company had a bad debt expense reserve of $1.2 million and $1.1 million, respectively. The Company’s bad debt expense reserve as of June 30, 2015 and December 31, 2014 included $0.8 million and $0.9 million related to the GKK Properties, respectively. During the six months ended June 30, 2015 and 2014, the Company recorded bad debt expense related to its tenant receivables of $0.4 million and $1.5 million, respectively.
As of June 30, 2015, the Company had a concentration of credit risk related to leases with the following tenant that represented more than 10% of the Company’s annualized base rent:
 
 
 
 
 
 
 
 
Annualized Base Rent Statistics
 
 
Tenant
 
Property
 
Tenant
Industry
 
Rentable Square Feet
 
% of
Portfolio Rentable Square Feet
 
Annualized Base Rent (1)
(in thousands)
 
% of Portfolio Annualized Base Rent
 
Annualized Base Rent per Square Foot
 
Lease Expirations
Bank of America, N.A.
 
Various
 
Finance
 
2,811,855
 
30.7
%
 
$
22,494

 
19.2
%
 
$
8.00

 
(2) 
_____________________
(1) Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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.
(2) As of June 30, 2015, lease expiration dates ranged from the remainder of 2015 through 2026 with a weighted-average remaining term of 4.6 years.
Bank of America Corporation is the guarantor of various leases that its subsidiary, Bank of America, N.A., has with the Company. The condensed consolidated financial information of Bank of America Corporation has been included herein because of the significant credit concentration the Company has with this guarantor. Bank of America Corporation currently files its financial statements in reports filed with the SEC, and the following unaudited summary financial data regarding Bank of America Corporation is taken from its previously filed public reports. For more detailed financial information regarding Bank of America Corporation, please refer to its financial statements, which are publicly available with the SEC at http:// www.sec.gov.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Consolidated Statements of Income (in millions)
 
 
 
 
 
 
 
Total revenue, net of interest expense
$
22,117

 
$
21,747

 
$
43,319

 
$
44,313

Income before income taxes
7,519

 
2,795

 
12,261

 
2,114

Net income (loss)
5,320

 
2,291

 
8,677

 
2,015

 
 
 
 
 
 
 
 
 
As of
 
 
 
 
 
June 30, 2015
 
December 31, 2014
 
 
 
 
Consolidated Balance Sheets (in millions)
 
 
 
 
 
 
 
Total assets
$
2,149,034

 
$
2,104,534

 
 
 
 
Total liabilities
1,897,375

 
1,861,063

 
 
 
 
Total stockholders’ equity
251,659

 
243,471

 
 
 
 

No other tenant represented more than 10% of the Company’s annualized base rent.
Geographic Concentration Risk
As of June 30, 2015, the Company’s net investments in real estate in Virginia represented 10.3% of the Company’s total assets.  As a result, the geographic concentration of the Company’s portfolio makes it particularly susceptible to adverse economic developments in Virginia’s real estate market. Any adverse economic or real estate developments in this market, such as business layoffs or downsizing, industry slowdowns, relocations of businesses, changing demographics and other factors, or any decrease in demand for office or bank branch space resulting from the local business climate, could adversely affect the Company’s operating results.
v2.4.1.9
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES
6 Months Ended
Jun. 30, 2015
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 June 30, 2015 and December 31, 2014, 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
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
June 30, 2015
 
December 31, 2014
 
June 30, 2015
 
December 31, 2014
 
June 30, 2015
 
December 31, 2014
Cost, net of impairments
$
77,478

 
$
79,050

 
$
32,685

 
$
32,796

 
$
(70,667
)
 
$
(71,141
)
Accumulated amortization
(37,327
)
 
(33,741
)
 
(13,103
)
 
(11,118
)
 
37,952

 
33,066

Net Amount
$
40,151

 
$
45,309

 
$
19,582

 
$
21,678

 
$
(32,715
)
 
$
(38,075
)

Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and six months ended June 30, 2015 and 2014 were as follows (in thousands):
 
Tenant Origination  and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
For the Three Months Ended June 30,
 
For the Three Months Ended June 30,
 
For the Three Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Amortization
$
(2,581
)
 
$
(3,993
)
 
$
(1,303
)
 
$
(1,001
)
 
$
3,594

 
$
3,094

 
Tenant Origination  and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
For the Six Months Ended June 30,
 
For the Six Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Amortization
$
(5,405
)
 
$
(7,827
)
 
$
(2,158
)
 
$
(2,009
)
 
$
6,239

 
$
6,115

v2.4.1.9
REAL ESTATE LOANS RECEIVABLE
6 Months Ended
Jun. 30, 2015
Receivables [Abstract]  
REAL ESTATE LOANS RECEIVABLE
REAL ESTATE LOANS RECEIVABLE
As of June 30, 2015 and December 31, 2014, the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands):
Loan Name
Location of Related Property or Collateral
 
Date
Acquired/
Originated
 
Property
Type
 
Loan
Type
 
Outstanding
Principal
Balance as of June 30, 2015(1)
 
Book Value
as of
June 30,
 2015 (2)
 
Book Value
as of
December 31,
2014 (2)
 
Contractual
Interest
Rate (3)
 
Annualized
Effective
Interest
Rate (3)
 
Maturity
Date
Sandmar Mezzanine Loan
Southeast U.S. (4)
 
01/09/2007
 
Retail
 
Mezzanine
 
$
5,110

 
$
5,132

 
$
5,181

 
5.4%
 
%
 
01/01/2017
Lawrence Village Plaza Loan Origination
New Castle, Pennsylvania
 
08/06/2007
 
Retail
 
Mortgage
 
6,917

 
6,917

 
6,920

 
8.0%
 
8.1
%
 
09/01/2015
San Diego Office Portfolio B-Note
San Diego, California (5)
 
10/26/2007
 
Office
 
B-Note
 
20,000

 
17,849

 
17,450

 
5.8%
 
11.2
%
 
10/11/2017
4929 Wilshire B-Note
Los Angeles, California
 
11/19/2007
 
Office
 
B-Note
 
3,860

 
3,431

 
3,365

 
6.1%
 
12.4
%
 
07/11/2017
 
 
 
 
 
 
 
 
$
35,887

 
$
33,329

 
$
32,916

 
 
 
 
 
 
Reserve for Loan Losses (6)
 
 
 
 
 
 
 

 
(3,994
)
 
(3,994
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
35,887

 
$
29,335

 
$
28,922

 
 
 
 
 
 
_____________________
(1) Outstanding principal balance as of June 30, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
(2) Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, annualized and divided by the average amortized cost basis of the investment during 2015. The contractual interest rates and annualized effective interest rates presented are as of June 30, 2015.
(4) The Company had recorded an asset-specific loan loss reserve against this investment as of June 30, 2015. See “—Reserve for Loan Losses.”
(5) The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the six months ended June 30, 2015, the Company recognized $1.0 million of interest income related to its investment in this loan.
(6) See “—Reserve for Loan Losses.”
As of June 30, 2015 and December 31, 2014, interest receivable from real estate loans receivable was $0.1 million and $0.1 million, respectively, and is included in rents and other receivables.
The following summarizes the activity related to real estate loans receivable for the six months ended June 30, 2015 (in thousands):
Real estate loans receivable, net - December 31, 2014
$
28,922

Principal repayments received on real estate loans receivable
(78
)
Accretion of discounts on purchased real estate loans receivable
506

Amortization of origination fees and costs on purchased and originated real estate loans receivable
(15
)
Real estate loans receivable, net - June 30, 2015
$
29,335


For the three and six months ended June 30, 2015 and 2014, interest income from real estate loans receivable consisted of the following (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Contractual interest income
$
491

 
$
558

 
$
976

 
$
1,111

Interest accretion
258

 
265

 
506

 
522

Amortization of origination fees and costs
(8
)
 
(9
)
 
(15
)
 
(18
)
Interest income from real estate loans receivable
$
741

 
$
814

 
$
1,467

 
$
1,615


The Company generally recognizes income on impaired loans on either a cash basis, where interest income is only recorded when received in cash, or on a cost-recovery basis, where all cash receipts are applied against the carrying value of the loan. The Company will resume the accrual of interest if it determines the collection of interest according to the contractual terms of the loan is probable. The Company considers the collectibility of the loan’s principal balance in determining whether to recognize income on impaired loans on a cash basis or a cost-recovery basis. Beginning in July 2014, interest income received on the Sandmar Mezzanine Loan was recorded on a cost-recovery basis. During the six months ended June 30, 2014, the Company recognized $0.2 million of interest income related to the Sandmar Mezzanine Loan, which has an asset-specific reserve. The Company did not recognize any interest income related to the Sandmar Mezzanine Loan during the six months ended June 30, 2015.
Reserve for Loan Losses
As of June 30, 2015, the total reserve for loan losses consisted of $4.0 million of asset-specific reserves related to the Sandmar Mezzanine Loan, which had an amortized cost basis of $5.1 million.
The Company did not record a provision for loan loss reserves during the six months ended June 30, 2015 or 2014. As of June 30, 2015, the borrower under the Sandmar Mezzanine Loan was delinquent and the Company will recognize income on this loan on a cost-recovery basis.
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS
6 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS
In accordance with ASU No. 2014-08, Presentation of Financial Statements (Topic 205) and Property, Plant, and Equipment (Topic 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity (“ASU No. 2014-08”), operating results of properties that are classified as held for sale in the ordinary course of business on or subsequent to January 1, 2014 would generally be included in continuing operations on the Company’s consolidated statements of operations. Operating results of properties that were classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statement of operations. Prior to the adoption of ASU No. 2014-08, the operations of properties held for sale or to be disposed of and the aggregate net gains recognized upon their disposition were presented as discontinued operations in the accompanying consolidated statements of operations for all periods presented. During the year ended December 31, 2014, the Company disposed of 16 properties (of which 11 were GKK Properties), transferred a portfolio of five GKK Properties to the lender in satisfaction of the debt and other obligations due under the BOA Windsor Mortgage Portfolio, terminated its leasehold interest in three GKK Properties and transferred two GKK Properties to the lenders in connection with foreclosure proceedings. During the six months ended June 30, 2015, the Company disposed of six properties (of which four were GKK Properties) and terminated its leasehold interest in three GKK Properties. As of June 30, 2015, the Company did not own any properties that were classified as held for sale.
The following summary presents the major components of assets and liabilities related to real estate held for sale as of June 30, 2015 and December 31, 2014 (in thousands):
 
June 30, 2015
 
December 31, 2014
Assets related to real estate held for sale
 
 
 
Total real estate, at cost and net of impairment charges
$

 
$
166,715

Accumulated depreciation and amortization

 
(18,361
)
Real estate held for sale, net

 
148,354

Other assets

 
10,462

Total assets related to real estate held for sale
$

 
$
158,816

Liabilities related to real estate held for sale
 
 
 
Notes payable

 
79,969

Other liabilities

 
3,087

Total liabilities related to real estate held for sale
$

 
$
83,056


During the six months ended June 30, 2015, the Company sold two historical real estate properties and three GKK Properties, which properties were not classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014. During the year ended December 31, 2014, the Company sold four historical real estate properties and two GKK Properties, disposed of a portfolio of five properties in connection with a deed-in-lieu of foreclosure, and transferred two GKK Properties to the lenders in connection with foreclosure proceedings, which properties were not classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014. In accordance with ASU No. 2014-08, the operations of these properties are included in continuing operations on the Company’s consolidated statements of operations. The following table summarizes certain revenues and expenses related to all of these properties, which were included in continuing operations (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2015
 
2014
 
2015
 
2014
Revenues
 
 
 
 
 
 
 
 
Rental income
 
$
1,518

 
$
7,880

 
$
6,280

 
$
15,773

Tenant reimbursements and other operating income
 
37

 
1,436

 
1,286

 
3,191

Total Revenues
 
1,555

 
9,316

 
7,566

 
18,964

Expenses
 
 
 
 
 
 
 
 
Operating, maintenance, and management
 
389

 
2,621

 
2,753

 
5,229

Real estate taxes and insurance
 
89

 
1,279

 
682

 
2,419

Asset management fees to affiliate
 

 
193

 
98

 
388

General and administrative expenses
 
2

 
13

 

 
20

Depreciation and amortization
 

 
3,446

 
1,500

 
6,885

Interest expense
 
402

 
3,714

 
1,802

 
7,442

Impairment of real estate
 

 
939

 

 
2,196

Total expenses
 
882

 
12,205

 
6,835

 
24,579


Discontinued Operations
The following table summarizes operating income from discontinued operations for the three and six months ended June 30, 2015 and 2014 (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Total revenues and other income
$

 
$
195

 
$
45

 
$
886

Total expenses
7

 
195

 
7

 
652

(Loss) income from discontinued operations before gain on sales of real estate, net, and impairment charge
(7
)
 

 
38

 
234

Gain on sales of real estate, net

 
89

 
124

 
3,006

Impairment charge

 
(81
)
 

 
(81
)
(Loss) income from discontinued operations
$
(7
)
 
$
8

 
$
162

 
$
3,159


Significant Transactions
101 Independence
On May 1, 2015, the Company, through an indirect wholly owned subsidiary, sold an office building containing 565,694 rentable square feet located in Charlotte, North Carolina (“101 Independence”) to a purchaser unaffiliated with the Company or the Advisor for $107.8 million, or $106.8 million net of concessions and credits.  The carrying value of 101 Independence as of the date of sale was $69.5 million, which was net of $13.3 million of accumulated depreciation and amortization.  The Company recognized a gain on the disposition of 101 Independence of approximately $35.0 million after fees and expenses.
v2.4.1.9
FORECLOSED REAL ESTATE HELD FOR SALE
6 Months Ended
Jun. 30, 2015
Foreclosed Real Estate Held for Sale [Abstract]  
FORECLOSED REAL ESTATE HELD FOR SALE
FORECLOSED REAL ESTATE HELD FOR SALE
In 2006 and 2007, the Company originally made three debt investments (collectively, the “Tribeca Loans”) related to the conversion of an eight-story loft building into a 10-story condominium building with 62 units (the “Tribeca Building”) located at 415 Greenwich Street in New York, New York. On February 19, 2010, the borrowers under the Tribeca Loans defaulted and the Company foreclosed on the Tribeca Building by exercising its right to accept 100% of the ownership interest of the borrowers. The Company acquired the remaining unsold condominium units of the Tribeca Building (the residential, retail and parking space condominium units transferred to the Company are, collectively, the “Units” and, individually, each is a “Unit”) and assumed the project liabilities. The Company recorded the Tribeca Building at fair value using a discounted cash flow valuation model based on the net realizable value (expected sales price less estimated costs to sell the unsold Units) of the real estate.
As of December 31, 2014, the Company’s investment in the Tribeca Building consisted of two Units with a carrying value of $12.0 million and is presented as foreclosed real estate held for sale on the consolidated balance sheet.  During the six months ended June 30, 2015, the Company sold the remaining two Units and recognized a gain on sale of $2.5 million (which gain on sale has been reduced by disposition fees to the Advisor of $0.2 million related to these two Units) and recorded expenses of $0.3 million related to foreclosed real estate held for sale. During the six months ended June 30, 2014, the Company did not sell any Units of the Tribeca Building and recorded expenses of $0.7 million related to foreclosed real estate held for sale.
v2.4.1.9
NOTES PAYABLE
6 Months Ended
Jun. 30, 2015
Notes Payable [Abstract]  
NOTES PAYABLE
NOTES PAYABLE
As of June 30, 2015 and December 31, 2014, the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands):
Loan Type
 
Book Value as of
June 30, 2015
 
Book Value as of
December 31, 2014
 
Contractual
Interest Rates as of
June 30, 2015 (1)
 
Weighted-Average
Interest Rates as of
June 30, 2015 (1)
 
Weighted-Average
Remaining Term
in Years (2)
Fixed Rate
 
 
 
 
 
 
 
 
 
 
Mortgage loans
 
$
62,200

 
$
62,200

 
5.9%
 
5.9%
 
1.3
GKK Properties mortgage loans (3)
 
312,090

 
381,179

 
5.3% - 6.8%
 
5.9%
 
3.9
 
 
374,290

 
443,379

 
 
 
 
 
 
Variable Rate
 
 
 
 
 
 
 
 
 
 
Mortgage loans
 
164,131

 
181,249

 
One-month LIBOR + 1.80%
 
2.0%
 
0.5
GKK Properties mortgage loan (4)
 

 
40,000

 
(4) 
 
(4) 
 
(4) 
 
 
164,131

 
221,249

 
 
 
 
 
 
Total notes payable principal outstanding
 
538,421

 
664,628

 
 
 
 
 
 
Discount on notes payable, net (5)
 
(3,677
)
 
(6,530
)
 
 
 
 
 
 
Total notes payable, net  
 
$
534,744

 
$
658,098

 
 
 
 
 
 
_____________________
(1) Contractual interest rates as of June 30, 2015 represent the range of interest rates in effect under these loans as of June 30, 2015. Weighted-average interest rates as of June 30, 2015 are calculated as the actual interest rates in effect under these loans as of June 30, 2015 (consisting of the contractual interest rates), using interest rate indices as of June 30, 2015, where applicable.
(2) Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of June 30, 2015; subject to certain conditions, the maturity dates of certain loans may be further extended.
(3) On May 1, 2015, in connection with the disposition of 101 Independence, the Company repaid the entire $65.3 million principal balance and all other sums due under a mortgage loan secured by 101 Independence, including a prepayment premium of $4.4 million, and wrote-off an unamortized discount on note payable of $2.0 million.
(4) On May 15, 2015, the Company repaid the entire outstanding principal balance due and all other sums due under this loan.
(5) Represents the unamortized discounts and premiums on notes payable due to the above- and below-market interest rates when the loans were assumed. The discounts and premiums are amortized over the remaining life of the respective loan.
As of June 30, 2015 and December 31, 2014, the Company’s deferred financing costs were $0.8 million and $1.9 million, respectively, net of amortization. During the three and six months ended June 30, 2015, the Company incurred interest expense, net of discontinued operations, of $8.1 million and $16.8 million, respectively. During the three and six months ended June 30, 2014, the Company incurred interest expense, net of discontinued operations, of $13.0 million and $26.6 million, respectively. Included in interest expense was: (i) the amortization of deferred financing costs of $0.8 million and $1.3 million for the three and six months ended June 30, 2015 and $0.4 million and $0.7 million for the three and six months ended June 30, 2014, respectively, and (ii) the amortization of discounts and premiums on notes payable, which increased interest expense by $0.4 million and $0.9 million for the three and six months ended June 30, 2015 and $1.5 million and $2.1 million for the three and six months ended June 30, 2014, respectively. As of June 30, 2015 and December 31, 2014, $2.9 million and $1.9 million of interest was payable, respectively.
The following is a schedule of maturities, including principal amortization payments, for all notes payable outstanding as of June 30, 2015 (in thousands):
July 1, 2015 through December 31, 2015
$
5,464

2016
235,577

2017
129,175

2018
8,651

2019
126,044

Thereafter
33,510

 
$
538,421

The following summarizes the activity related to notes payable for the six months ended June 30, 2015 (in thousands):
Total notes payable, net  - December 31, 2014
$
658,098

Principal repayments
(126,207
)
Write-off of discount on notes payable related to sale
1,986

Amortization of discounts and premiums on notes payable, net
867

Total notes payable, net  - June 30, 2015
$
534,744


Debt Covenants
The documents evidencing the Company’s outstanding debt obligations typically require that specified loan-to-value and debt service coverage ratios be maintained with respect to the financed properties. A breach of the financial covenants in these documents may result in the lender imposing additional restrictions on the Company’s operations, such as restrictions on the Company’s ability to incur additional debt, or may allow the lender to impose “cash traps” with respect to cash flow from the property securing the loan. In addition, such a breach may constitute an event of default and the lender could require the Company to repay the debt immediately. If the Company fails to make such repayment in a timely manner, the lender may be entitled to take possession of any property securing the loan. Except as described below, as of June 30, 2015, the Company was in compliance with these debt covenants.
BBD2 Loan
As of June 30, 2015, the borrower under the BBD2 Loan was out of debt service coverage compliance. As a result of such non-compliance, the loan servicer may impose a “cash trap,” which restricts distributions to the Company to the budgeted property operating expenses.
v2.4.1.9
FAIR VALUE DISCLOSURES
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
FAIR VALUE DISCLOSURES
FAIR VALUE DISCLOSURES
Under GAAP, the Company is required to measure certain financial instruments at fair value on a recurring basis. In addition, the Company is required to measure other financial instruments and balances at fair value on a non-recurring basis (e.g., carrying value of impaired real estate loans receivable and long-lived assets). Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories:
Level 1: unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
Level 2: quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
Level 3: prices or valuation techniques where little or no market data is available that requires inputs that are both significant to the fair value measurement and unobservable.
The fair value for certain financial instruments is derived using a combination of market quotes, pricing models and other valuation techniques that involve significant management judgment. The price transparency of financial instruments is a key determinant of the degree of judgment involved in determining the fair value of the Company’s financial instruments. Financial instruments for which actively quoted prices or pricing parameters are available and for which markets contain orderly transactions will generally have a higher degree of price transparency than financial instruments for which markets are inactive or consist of non-orderly trades. The Company evaluates several factors when determining if a market is inactive or when market transactions are not orderly. The following is a summary of the methods and assumptions used by management in estimating the fair value of each class of assets and liabilities for which it is practicable to estimate the fair value:
Cash and cash equivalents, restricted cash, rent and other receivables, and accounts payable and accrued liabilities: These balances approximate their fair values due to the short maturities of these items.
Real estate loans receivable: These instruments are presented in the accompanying consolidated balance sheets at their amortized cost net of recorded loan loss reserves and not at fair value. The fair values of real estate loans receivable were estimated using an internal valuation model that considered the expected cash flows for the loans, underlying collateral values (for collateral-dependent loans) and estimated yield requirements of institutional investors for loans with similar characteristics, including remaining loan term, loan-to-value, type of collateral and other credit enhancements. The Company classifies these inputs as Level 3 inputs.
Notes payable: The fair values of the Company’s notes payable are estimated using a discounted cash flow analysis based on management’s estimates of current market interest rates for instruments with similar characteristics, including remaining loan term, loan-to-value ratio, type of collateral and other credit enhancements. Additionally, when determining the fair value of a liability 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 real estate loans receivable and notes payable as of June 30, 2015 and December 31, 2014, which carrying amounts generally do not approximate the fair values (in thousands):
 
June 30, 2015
 
December 31, 2014
 
Face Value    
 
Carrying
Amount      
 
Fair Value    
 
Face Value    
 
Carrying
Amount      
 
Fair Value    
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Real estate loans receivable (1)
$
35,887

 
$
29,335

 
$
26,763

 
$
35,966

 
$
28,922

 
$
25,818

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Notes payable
$
538,421

 
$
534,744

 
$
555,327

 
$
664,628

 
$
658,098

 
$
688,374

_____________________
(1) Carrying amount of real estate loans receivable includes loan loss reserves.
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 of these investments could be materially different from the Company’s estimate of value.
v2.4.1.9
RELATED PARTY TRANSACTIONS
6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]  
RELATED PARTY TRANSACTIONS
RELATED PARTY TRANSACTIONS
The Company has entered into an Advisory Agreement with the Advisor, which entitles the Advisor to specified fees for the management and disposition of investments, among other services, as well as to reimbursement for certain costs incurred by the Advisor in providing services to the Company. In addition, the Advisor is entitled to certain other fees, including an incentive fee upon achieving certain performance goals, as detailed in the Advisory Agreement. The Company has also entered into a fee reimbursement agreement (the “AIP Reimbursement Agreement”) with the Dealer Manager pursuant to which the Company agreed to reimburse the Dealer Manager for certain fees and expenses it incurs for administering the Company’s participation in the DTCC Alternative Investment Product Platform with respect to certain accounts of the Company’s investors serviced through the platform. The Advisor also serves, and the Dealer Manager also serves or served, as the advisor and dealer manager, respectively, for KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc., KBS Strategic Opportunity REIT II, Inc. and KBS Growth & Income REIT, Inc.
On January 6, 2014, the Company, together with KBS Real Estate Investment Trust II, Inc., KBS Real Estate Investment Trust III, Inc., KBS Strategic Opportunity REIT, Inc., KBS Legacy Partners Apartment REIT, Inc., KBS Strategic Opportunity REIT II, Inc., the Dealer Manager, the Advisor and other KBS-affiliated entities, entered into an errors and omissions and directors and officers liability insurance program where the lower tiers of such insurance coverage are shared. The cost of these lower tiers is allocated by the Advisor and its insurance broker among each of the various entities covered by the program, and is billed directly to each entity. The allocation of these shared coverage costs is proportionate to the pricing by the insurance marketplace for the first tiers of directors and officers liability coverage purchased individually by each REIT. The Advisor’s and the Dealer Manager’s portion of the shared lower tiers’ cost is proportionate to the respective entities’ prior cost for the errors and omissions insurance. In June 2015, KBS Growth & Income REIT, Inc. was added to the insurance program at terms similar to those described above.
During the six months ended June 30, 2015 and 2014, no other business transactions occurred between the Company and the other KBS-sponsored programs. On May 18, 2012, KBS Strategic Opportunity REIT, Inc. made an $8.0 million investment in a joint venture in which the Company indirectly owns a participation interest through another joint venture investment.
Pursuant to the terms of the Advisory Agreement and the AIP Reimbursement Agreement, summarized below are the related-party costs incurred by the Company for the three and six months ended June 30, 2015 and 2014, respectively, and any related amounts payable as of June 30, 2015 and December 31, 2014 (in thousands):
 
Incurred
 
Payable
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
June 30,
 
December 31,
 
2015
 
2014
 
2015
 
2014
 
2015
2014
Expensed
 
 
 
 
 
 
 
 
 
 
 
Asset management fees(1)
$
2,346

 
$
2,530

 
$
4,766

 
$
5,046

 
$

 
$

Reimbursement of operating expenses(2)
52

 
54

 
99

 
103

 
33

 
45

Disposition fees(3)
1,068

 
399

 
2,253

 
775

 

 
399

 
$
3,466

 
$
2,983

 
$
7,118

 
$
5,924

 
$
33

 
$
444

_____________________
(1) Amounts include asset management fees from discontinued operations totaling $17,000 for the six months ended June 30, 2014.
(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses 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 $50,000 and $54,000 for the three months ended June 30, 2015 and 2014, respectively, and $95,000 and $0.1 million for the six months ended June 30, 2015 and 2014, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. The Company will not reimburse for employee costs in connection with services for which the Advisor earns 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.
(3) Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.
Advisory Agreement Amendment
On January 15, 2015, the Company and the Advisor entered into an amendment to the Advisory Agreement to amend certain terms related to the disposition fee payable to the Advisor by the Company. In accordance with the Advisory Agreement, for substantial assistance in connection with the sale of properties, loans or other investments as determined by the conflicts committee of the Company’s board of directors, the Company pays the Advisor or its affiliates a disposition fee of 1% of the contract sales price of the properties, loans or other investments sold. However, in no event may the total commissions (including such disposition fees) paid to the Advisor, its affiliates and unaffiliated third parties exceed 6% of the contract sales price of the property, loan or other investment sold or exceed a competitive real estate commission. Pursuant to the amendment, the disposition fee related to the sales of GKK Properties has been modified to provide that the conflicts committee will determine in its sole discretion the amount of the disposition fee related to the sale of GKK Properties upon the terms set forth below, which disposition fee may be an amount not to exceed 1% of the contract sales price, which maximum amount is consistent with the fixed percentage applicable to the sales of other properties, loans and other investments under the Advisory Agreement.
The amendment provides that with respect to sales of the GKK Properties, and provided that the conflicts committee determines that the Advisor has provided a substantial amount of services in connection with the sale of each GKK Property for which the payment of a disposition fee is requested by the Advisor, then:
(a)
With respect to portfolio or single asset sales of GKK Properties designated by the conflicts committee in its sole discretion at or about the time of the sale, the Company will pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other limitations and conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee will be payable upon the respective closing; and
(b)
With respect to sales of all other GKK Properties for which a disposition fee has not yet been paid, if, upon the sale of the final GKK Property, the conflicts committee determines in its sole discretion that the Company has recovered its entire investment related to the GKK Mezzanine Loan and the GKK Properties subsequent to the Settlement Agreement, after taking into consideration the net cash flow received by the Company from the investment, whether in the form of (i) net proceeds from the sales or other dispositions or transfers of the GKK Properties, (ii) the net cash flow related to the GKK Mezzanine Loan, (iii) the net cash flow related to the GKK Properties subsequent to the Settlement Agreement and/or (iv) other proceeds related to the assets and liabilities received under the Settlement Agreement, then the Company will pay the Advisor a fee in an amount not to exceed 1% of the contract sales price and subject to other conditions set forth in the Advisory Agreement, as determined by the conflicts committee in its sole discretion, which fee will be payable promptly upon such determination by the conflicts committee.
As of June 30, 2015, the Company had sold 160 GKK Properties for an aggregate contract sales price of $213.0 million for which the Company had not paid or accrued a disposition fee. If the conflicts committee determines the Company has recovered its entire investment related to the GKK Mezzanine Loan and the GKK Properties upon the sale of the final GKK Property, the conflicts committee may authorize the Company to pay the Advisor a disposition fee of up to 1% of the aggregate contract sales price of these GKK Properties sold as of June 30, 2015, which amount would be determined by the conflicts committee in its sole discretion.
v2.4.1.9
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES
6 Months Ended
Jun. 30, 2015
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]  
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES
Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands):
 
For the Six Months Ended June 30,
 
2015
 
2014
Supplemental Disclosure of Cash Flow Information:
 
 
 
Interest paid
$
13,671

 
$
23,313

Supplemental Disclosure of Significant Noncash Transactions:
 
 
 
Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure
$

 
$
6,134

Increase in lease incentives payable
$
423

 
$
1,925

v2.4.1.9
SEGMENT INFORMATION
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
SEGMENT INFORMATION
SEGMENT INFORMATION
The Company presently operates in three business segments based on its investment types: real estate, real estate-related and commercial properties primarily leased to financial institutions received under the Settlement Agreement, or the GKK Properties. Under the real estate segment, the Company has invested primarily in office and industrial properties located throughout the United States. The real estate segment excludes all real estate properties that were classified as discontinued operations. Under the real estate-related segment, the Company has invested in or originated mortgage loans, mezzanine loans and other real estate-related assets, including real estate securities. The GKK Properties segment consists of primarily office properties, bank branch properties, operations centers and other properties located in 30 states but excludes GKK Properties that were classified as discontinued operations. All revenues earned from the Company’s three reporting segments were from external customers and there were no intersegment sales or transfers. The Company does not allocate corporate-level accounts to its reporting segments. Corporate-level accounts include corporate general and administrative expenses, asset management fees, non-operating interest income and other corporate-level expenses. The accounting policies of the reporting segments are consistent with those described in Note 2, “Summary of Significant Accounting Policies.”
The Company evaluates the performance of its segments based upon net operating income from continuing operations (“NOI”), which is a non-GAAP supplemental financial measure. The Company defines NOI for its real estate segment and the GKK Properties segment as operating revenues (rental income, tenant reimbursements and other operating income) less property and related expenses (property operating expenses, real estate taxes, insurance and provision for bad debt) less interest expense. The Company defines NOI for its real estate-related segment as interest income and income from its unconsolidated joint venture investment less loan servicing costs (if applicable) and interest expense (if applicable). NOI excludes certain items that are not considered to be controllable in connection with the management of an asset such as non-property income and expenses, depreciation and amortization, asset management fees and corporate general and administrative expenses. The Company uses NOI to evaluate the operating performance of the Company’s real estate investments, real estate-related investments and the GKK Properties and to make decisions about resource allocations. The Company believes that net income is the GAAP measure that is most directly comparable to NOI; however, NOI should not be considered as an alternative to net income as the primary indicator of operating performance as it excludes the items described above. Additionally, NOI as defined above may not be comparable to other REITs or companies as their definitions of NOI may differ from the Company’s definition. During the year ended December 31, 2014, the Company revised its definition of NOI to exclude asset management fees, which the Company does not consider to be controllable in connection with the management of each property or real estate-related asset and is viewed by the chief operating decision makers as a corporate-level administrative expense. NOI for all prior periods presented has been adjusted to conform to the current period definition.
The following tables summarize total revenues, interest expense and NOI for each reportable segment for the three and six months ended June 30, 2015 and 2014, and total assets and total liabilities for each reportable segment as of June 30, 2015 and December 31, 2014 (in thousands):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Revenues:
 
 
 
 
 
 
 
Real estate segment (1)
$
16,488

 
$
18,231

 
$
34,329

 
$
37,151

Real estate-related segment
741

 
815

 
1,467

 
1,615

GKK Properties segment (1)
27,737

 
35,415

 
58,748

 
69,702

Total revenues
$
44,966

 
$
54,461

 
$
94,544

 
$
108,468

Interest expense:
 
 
 
 
 
 
 
Real estate segment (1)
$
2,036

 
$
2,321

 
$
4,244

 
$
5,287

Real estate-related segment

 

 

 

GKK Properties segment (1)
6,048

 
10,715

 
12,572

 
21,294

Total interest expense
$
8,084

 
$
13,036

 
$
16,816

 
$
26,581

NOI:
 
 
 
 
 
 
 
Real estate segment (1)
$
6,660

 
$
8,381

 
$
13,055

 
$
15,945

Real estate-related segment
741

 
679

 
1,466

 
1,479

GKK Properties segment (1)
5,773

 
4,176

 
10,728

 
7,435

Total NOI
$
13,174

 
$
13,236

 
$
25,249

 
$
24,859

 
 
 
 
 
 
 
 
 
As of June 30,
 
As of December 31,
 
 
 
 
 
2015
 
2014
 
 
 
 
Assets:
 
 
 
 
 
 
 
Real estate segment
$
548,572

 
$
542,512

 
 
 
 
Real estate-related segment
29,488

 
29,096

 
 
 
 
GKK Properties segment
571,907

 
598,907

 
 
 
 
Total segment assets
1,149,967

 
1,170,515

 
 
 
 
Real estate held for sale

 
158,816

 
 
 
 
Foreclosed real estate held for sale

 
12,045

 
 
 
 
Corporate-level (2)
100,448

 
34,791

 
 
 
 
Total assets
$
1,250,415

 
$
1,376,167

 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Real estate segment
$
243,804

 
$
240,965

 
 
 
 
Real estate-related segment
2

 

 
 
 
 
GKK Properties segment
377,045

 
433,735

 
 
 
 
Total segment liabilities
620,851

 
674,700

 
 
 
 
Real estate held for sale

 
83,056

 
 
 
 
Corporate-level (3)
932

 
5,638

 
 
 
 
Total liabilities
$
621,783

 
$
763,394

 
 
 
 
_____________________
(1) Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
(2) Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $100.2 million and $34.2 million as of June 30, 2015 and December 31, 2014, respectively.
(3) As of June 30, 2015, corporate-level liabilities consisted primarily of accounts payable and accrued liabilities for general and administrative expenses. As of December 31, 2014, corporate-level liabilities consisted primarily of distributions payable.
The following table reconciles the Company’s net income (loss) to its NOI for the three and six months ended June 30, 2015 and 2014 (amounts in thousands):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Net income (loss)
$
19,751

 
$
(7,652
)
 
$
28,340

 
$
(12,168
)
Gain on sales of real estate
(35,093
)
 
(2,041
)
 
(49,059
)
 
(2,041
)
Gain on sales of real estate securities

 
(662
)
 

 
(4,410
)
Loss (gain) from extinguishment of debt
6,385

 
(3,297
)
 
6,376

 
(5,112
)
Gain on sale of foreclosed real estate held for sale

 

 
(2,509
)
 

Other income and interest income
(474
)
 
(192
)
 
(590
)
 
(662
)
Asset management fees to affiliate
2,346

 
2,530

 
4,766

 
5,029

General and administrative expenses
6,047

 
3,685

 
8,277

 
7,329

Depreciation and amortization
14,205

 
17,961

 
29,810

 
35,884

Impairment charge on real estate held for investment

 
939

 

 
2,196

Provision for loan losses

 
1,973

 

 
1,973

Total loss (income) from discontinued operations
7

 
(8
)
 
(162
)
 
(3,159
)
NOI (1)
$
13,174

 
$
13,236

 
$
25,249

 
$
24,859


_____________________
(1) Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
v2.4.1.9
COMMITMENTS AND CONTINGENCIES
6 Months Ended
Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]  
COMMITMENTS AND CONTINGENCIES
COMMITMENTS AND CONTINGENCIES
Lease Obligations
Pursuant to the Settlement Agreement, the Company indirectly received leasehold interests in certain commercial properties, pursuant to leases between the owner of the property, as landlord, and the Company, as tenant. The ground leases have expiration dates from 2017 through 2042 and the building leases have expiration dates from 2018 through 2085. These lease obligations generally contain rent increases and renewal options. In certain instances, the rent owed by the Company to the owner of the property under the lease is greater than the revenue received by the Company from the tenants occupying the property.
Future minimum lease payments owed by the Company under non-cancelable operating building and ground leases as of June 30, 2015 were as follows (in thousands):
July 1, 2015 through December 31, 2015
$
8,460

2016
16,455

2017
12,425

2018
2,413

2019
1,766

Thereafter
31,469

 
$
72,988


Economic Dependency
The Company is dependent on the Advisor for certain services that are essential to the Company, including the management of the Company’s real estate and real estate-related investment portfolio; the disposition of real estate and real estate-related investments; and other general and administrative responsibilities. In the event that the Advisor is unable to provide any of these services, the Company will be required to obtain such services from other sources. The Company is also dependent on the Property Manager for the Services under the Amended Services Agreement, including the operations, leasing and eventual dispositions of the GKK Properties.
Environmental
As an owner of real estate, the Company is subject to various environmental laws of federal, state and local governments. Although there can be no assurance, the Company is not aware of any environmental liability that could have a material adverse effect on its financial condition or results of operations. However, changes in applicable environmental laws and regulations, the uses and conditions of properties in the vicinity of the Company’s properties, the activities of its tenants and other environmental conditions of which the Company is unaware with respect to the properties could result in future environmental liabilities.
Under the Settlement Agreement, the Company indirectly took title to or, with respect to a limited number of the GKK Properties, indirectly took a leasehold interest in, the GKK Properties on an “as is” basis. As such, the Company was not able to inspect the GKK Properties or conduct standard due diligence on certain of the GKK Properties before the transfers of the properties. Additionally, the Company did not receive representations, warranties and indemnities relating to the GKK Properties from Gramercy and/or its affiliates. Thus, the value of the GKK Properties may decline if the Company subsequently discovers environmental problems with the GKK Properties.
Legal Matters
From time to time, the Company is party to legal proceedings that arise in the ordinary course of its business. Management is not aware of any legal proceedings the outcome of which 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.
v2.4.1.9
SUBSEQUENT EVENTS
6 Months Ended
Jun. 30, 2015
Subsequent Events [Abstract]  
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS
The Company evaluates subsequent events up until the date the consolidated financial statements are issued.
Distribution Declared
On August 11, 2015, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on September 18, 2015. The Company expects to pay this distribution on or about September 25, 2015.

v2.4.1.9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)
6 Months Ended
Jun. 30, 2015
Accounting Policies [Abstract]  
Basis of Presentation
The accompanying unaudited consolidated financial statements and condensed notes thereto have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial information as contained within the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) and the rules and regulations of the SEC, including the instructions to Form 10-Q and Article 10 of Regulation S-X. Accordingly, the unaudited consolidated financial statements do not include all of the information and footnotes required by GAAP for audited financial statements. In the opinion of management, the financial statements for the unaudited interim periods presented include all adjustments, which are of a normal and recurring nature, necessary for a fair and consistent presentation of the results for such periods. Operating results for the three and six months ended June 30, 2015 are not necessarily indicative of the results that may be expected for the year ending December 31, 2015.
Principles of Consolidation
The consolidated financial statements include the accounts of the Company, KBS REIT Holdings, the Operating Partnership and their direct and indirect wholly owned subsidiaries. All significant intercompany balances and transactions are eliminated in consolidation.
Use of Estimates
The preparation of the consolidated financial statements and condensed 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.
Reclassifications
Certain amounts in the Company’s prior period consolidated financial statements have been reclassified to conform to the current period presentation. These reclassifications have not changed the results of operations of prior periods. During the six months ended June 30, 2015, the Company sold six properties (of which four were GKK Properties), two of which were held for sale as of December 31, 2014. As a result, certain assets and liabilities were reclassified to held for sale on the consolidated balance sheets for all periods presented. Operating results of properties that were classified as held for sale in financial statements prior to January 1, 2014 will remain in discontinued operations on the Company’s consolidated statements of operations. Operating results of properties that were disposed of or classified as held for sale in the ordinary course of business subsequent to January 1, 2014 that had not been classified as held for sale in financial statements issued for the reporting periods prior to January 1, 2014 are included in continuing operations on the Company’s consolidated statements of operations.
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 during the three and six months ended June 30, 2015 and 2014, respectively.
Distributions declared per share of common stock were $0.025 and $0.050 for the three and six months ended June 30, 2015, respectively. On March 6, 2015, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on March 20, 2015. On May 13, 2015, the Company’s board of directors declared a distribution in the amount of $0.025 per share of common stock to stockholders of record as of the close of business on June 19, 2015. No distributions were declared during the three and six months ended June 30, 2014.
Segments
The Company’s segments are based on the Company’s method of internal reporting, which classifies its operations by investment type: (i) real estate, (ii) real estate-related and (iii) commercial properties primarily leased to financial institutions received under the Settlement Agreement, the GKK Properties.
Recently Issued Accounting Standards Update
In May 2014, the FASB issued ASU No. 2014-09, Revenue from Contracts with Customers (Topic 606) (“ASU No. 2014-09”).  ASU No. 2014-09 requires an entity to recognize the revenue to depict the transfer of promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods and services.  ASU No. 2014-09 supersedes the revenue requirements in Revenue Recognition (Topic 605) and most industry-specific guidance throughout the Industry Topics of the Codification.  ASU No. 2014-09 does not apply to lease contracts within the scope of Leases (Topic 840). ASU No. 2014-09 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2016, and is to be applied retrospectively, with early application not permitted.  On July 9, 2015, the FASB voted to defer the effective date of ASU No. 2014-09 by one year. Early adoption is permitted but not before the original effective date. The Company is still evaluating the impact of adopting ASU No. 2014-09 on its financial statements, but does not expect the adoption of ASU No. 2014-09 to have a material impact on its financial statements. 
In August 2014, the FASB issued ASU No. 2014-15, Presentation of Financial Statements (Subtopic 205-40), Disclosure of Uncertainties about an Entity’s Ability to Continue as a Going Concern (“ASU No. 2014-15”). The amendments in ASU No. 2014-15 require management to evaluate, for each annual and interim reporting period, whether there are conditions or events, considered in the aggregate, that raise substantial doubt about an entity’s ability to continue as a going concern within one year after the date that the financial statements are issued (or are available to be issued when applicable) and, if so, provide related disclosures. ASU No. 2014-15 is effective for annual periods ending after December 15, 2016, and interim periods within annual periods beginning after December 15, 2016. Early adoption is permitted for annual or interim reporting periods for which the financial statements have not previously been issued. The Company does not expect the adoption of ASU No. 2014-15 to have a significant impact on its financial statements.
In January 2015, the FASB issued ASU No. 2015-01, Income Statement - Extraordinary and Unusual Items (Subtopic 225-20), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items (“ASU No. 2015-01”). The amendments in ASU No. 2015-01 eliminate from GAAP the concept of extraordinary items. Although the amendments will eliminate the requirements in Subtopic 225-20 for reporting entities to consider whether an underlying event or transaction is extraordinary, the presentation and disclosure guidance for items that are unusual in nature or occur infrequently will be retained and will be expanded to include items that are both unusual in nature and infrequently occurring. ASU No. 2015-01 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015. Early adoption is permitted provided that the guidance is applied from the beginning of the fiscal year of adoption. The Company does not expect the adoption of ASU No. 2015-01 to have a significant impact on its financial statements.
In April 2015, the FASB issued ASU No. 2015-03, Interest - Imputation of Interest (Subtopic 835-30), Simplifying the Presentation of Debt Issuance Costs (“ASU No. 2015-03”).  The amendments in ASU No. 2015-03 require debt issuance costs to be presented in the balance sheet as a direct deduction from the carrying value of the associated debt liability, consistent with the presentation of a debt discount. ASU No. 2015-03 is limited to the presentation of debt issuance costs and does not affect the recognition and measurement of debt issuance costs.  ASU No. 2015-03 is effective for fiscal years, and interim periods within those years, beginning after December 15, 2015 and is to be applied retrospectively.  Early adoption is permitted for financial statements that have not been previously issued.  The adoption of ASU No. 2015-03 would change the presentation of debt issuance costs as the Company presents debt issuance costs as deferred financing costs, prepaid expenses and other assets, net on the accompanying consolidated balance sheets. 
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Tables)
6 Months Ended
Jun. 30, 2015
Guarantor by Name [Line Items]  
Schedule of Real Estate Investments
The following table summarizes the Company’s investments in real estate as of June 30, 2015 and December 31, 2014 (in thousands):
 
 
Land
 
Buildings and
Improvements
 
Tenant 
Origination and
Absorption Costs
 
Total Real Estate
Held for 
Investment
As of June 30, 2015:
 
 
 
 
 
 
 
 
Office
 
$
68,178

 
$
410,719

 
$
1,563

 
$
480,460

Industrial
 
16,787

 
82,667

 
2,244

 
101,698

GKK Properties
 
180,313

 
318,647

 
73,671

 
572,631

Real estate held for investment, at cost and net of impairment charges
 
265,278

 
812,033

 
77,478

 
1,154,789

Accumulated depreciation/amortization
 

 
(158,793
)
 
(37,327
)
 
(196,120
)
Real estate held for investment, net
 
$
265,278

 
$
653,240

 
$
40,151

 
$
958,669

As of December 31, 2014:
 
 
 
 
 
 
 
 
Office
 
$
68,178

 
$
401,083

 
$
1,825

 
$
471,086

Industrial
 
16,787

 
80,565

 
3,137

 
100,489

GKK Properties
 
180,313

 
319,228

 
74,088

 
573,629

Real estate held for investment, at cost and net of impairment charges
 
265,278

 
800,876

 
79,050

 
1,145,204

Accumulated depreciation/amortization
 

 
(141,306
)
 
(33,741
)
 
(175,047
)
Real estate held for investment, net
 
$
265,278

 
$
659,570

 
$
45,309

 
$
970,157

Schedule of Future Minimum Rental Income Under Non-cancelable Operating Leases
The future minimum rental income from the Company’s properties under non-cancelable operating leases, including leases subject to shedding rights and excluding options to extend, as of June 30, 2015 for the years ending December 31 is as follows (in thousands):
July 1, 2015 through December 31, 2015
$
56,749

2016
113,907

2017
105,101

2018
92,065

2019
77,383

Thereafter
198,008

 
$
643,213

Schedules of Concentration of Risk, by Risk Factor
As of June 30, 2015, the Company had a concentration of credit risk related to leases with the following tenant that represented more than 10% of the Company’s annualized base rent:
 
 
 
 
 
 
 
 
Annualized Base Rent Statistics
 
 
Tenant
 
Property
 
Tenant
Industry
 
Rentable Square Feet
 
% of
Portfolio Rentable Square Feet
 
Annualized Base Rent (1)
(in thousands)
 
% of Portfolio Annualized Base Rent
 
Annualized Base Rent per Square Foot
 
Lease Expirations
Bank of America, N.A.
 
Various
 
Finance
 
2,811,855
 
30.7
%
 
$
22,494

 
19.2
%
 
$
8.00

 
(2) 
_____________________
(1) Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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.
(2) As of June 30, 2015, lease expiration dates ranged from the remainder of 2015 through 2026 with a weighted-average remaining term of 4.6 years.
As of June 30, 2015, the Company’s highest tenant industry concentration (greater than 10% of annualized base rent) was as follows:
Industry
 
Number of
Tenants
 
Annualized
Base Rent
(1)
(in thousands)
 
Percentage of
Annualized Base Rent
Finance
 
72
 
$
56,839

 
48.6
%
_____________________
(1) Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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.
Bank of America Corporation [Member]  
Guarantor by Name [Line Items]  
Schedule of Condensed Consolidated Information
Bank of America Corporation is the guarantor of various leases that its subsidiary, Bank of America, N.A., has with the Company. The condensed consolidated financial information of Bank of America Corporation has been included herein because of the significant credit concentration the Company has with this guarantor. Bank of America Corporation currently files its financial statements in reports filed with the SEC, and the following unaudited summary financial data regarding Bank of America Corporation is taken from its previously filed public reports. For more detailed financial information regarding Bank of America Corporation, please refer to its financial statements, which are publicly available with the SEC at http:// www.sec.gov.
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Consolidated Statements of Income (in millions)
 
 
 
 
 
 
 
Total revenue, net of interest expense
$
22,117

 
$
21,747

 
$
43,319

 
$
44,313

Income before income taxes
7,519

 
2,795

 
12,261

 
2,114

Net income (loss)
5,320

 
2,291

 
8,677

 
2,015

 
 
 
 
 
 
 
 
 
As of
 
 
 
 
 
June 30, 2015
 
December 31, 2014
 
 
 
 
Consolidated Balance Sheets (in millions)
 
 
 
 
 
 
 
Total assets
$
2,149,034

 
$
2,104,534

 
 
 
 
Total liabilities
1,897,375

 
1,861,063

 
 
 
 
Total stockholders’ equity
251,659

 
243,471

 
 
 
 
v2.4.1.9
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Tables)
6 Months Ended
Jun. 30, 2015
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 June 30, 2015 and December 31, 2014, 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
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
June 30, 2015
 
December 31, 2014
 
June 30, 2015
 
December 31, 2014
 
June 30, 2015
 
December 31, 2014
Cost, net of impairments
$
77,478

 
$
79,050

 
$
32,685

 
$
32,796

 
$
(70,667
)
 
$
(71,141
)
Accumulated amortization
(37,327
)
 
(33,741
)
 
(13,103
)
 
(11,118
)
 
37,952

 
33,066

Net Amount
$
40,151

 
$
45,309

 
$
19,582

 
$
21,678

 
$
(32,715
)
 
$
(38,075
)
Amortization of Tenant Origination and Absorption Costs, Above-Market Leases and Below-Market Lease Liabilities
Increases (decreases) in net income as a result of amortization of the Company’s tenant origination and absorption costs, above-market lease assets and below-market lease liabilities for the three and six months ended June 30, 2015 and 2014 were as follows (in thousands):
 
Tenant Origination  and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
For the Three Months Ended June 30,
 
For the Three Months Ended June 30,
 
For the Three Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Amortization
$
(2,581
)
 
$
(3,993
)
 
$
(1,303
)
 
$
(1,001
)
 
$
3,594

 
$
3,094

 
Tenant Origination  and
Absorption Costs
 
Above-Market
Lease Assets
 
Below-Market
Lease Liabilities
 
For the Six Months Ended June 30,
 
For the Six Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
 
2015
 
2014
Amortization
$
(5,405
)
 
$
(7,827
)
 
$
(2,158
)
 
$
(2,009
)
 
$
6,239

 
$
6,115

v2.4.1.9
REAL ESTATE LOANS RECEIVABLE (Tables)
6 Months Ended
Jun. 30, 2015
Receivables [Abstract]  
Schedule of Real Estate Loans Receivable
As of June 30, 2015 and December 31, 2014, the Company, through indirect wholly owned subsidiaries, had invested in or originated real estate loans receivable as follows (dollars in thousands):
Loan Name
Location of Related Property or Collateral
 
Date
Acquired/
Originated
 
Property
Type
 
Loan
Type
 
Outstanding
Principal
Balance as of June 30, 2015(1)
 
Book Value
as of
June 30,
 2015 (2)
 
Book Value
as of
December 31,
2014 (2)
 
Contractual
Interest
Rate (3)
 
Annualized
Effective
Interest
Rate (3)
 
Maturity
Date
Sandmar Mezzanine Loan
Southeast U.S. (4)
 
01/09/2007
 
Retail
 
Mezzanine
 
$
5,110

 
$
5,132

 
$
5,181

 
5.4%
 
%
 
01/01/2017
Lawrence Village Plaza Loan Origination
New Castle, Pennsylvania
 
08/06/2007
 
Retail
 
Mortgage
 
6,917

 
6,917

 
6,920

 
8.0%
 
8.1
%
 
09/01/2015
San Diego Office Portfolio B-Note
San Diego, California (5)
 
10/26/2007
 
Office
 
B-Note
 
20,000

 
17,849

 
17,450

 
5.8%
 
11.2
%
 
10/11/2017
4929 Wilshire B-Note
Los Angeles, California
 
11/19/2007
 
Office
 
B-Note
 
3,860

 
3,431

 
3,365

 
6.1%
 
12.4
%
 
07/11/2017
 
 
 
 
 
 
 
 
$
35,887

 
$
33,329

 
$
32,916

 
 
 
 
 
 
Reserve for Loan Losses (6)
 
 
 
 
 
 
 

 
(3,994
)
 
(3,994
)
 
 
 
 
 
 
 
 
 
 
 
 
 
 
$
35,887

 
$
29,335

 
$
28,922

 
 
 
 
 
 
_____________________
(1) Outstanding principal balance as of June 30, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
(2) Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
(3) Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, annualized and divided by the average amortized cost basis of the investment during 2015. The contractual interest rates and annualized effective interest rates presented are as of June 30, 2015.
(4) The Company had recorded an asset-specific loan loss reserve against this investment as of June 30, 2015. See “—Reserve for Loan Losses.”
(5) The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the six months ended June 30, 2015, the Company recognized $1.0 million of interest income related to its investment in this loan.
(6) See “—Reserve for Loan Losses.”
Schedule of Activity Related to Real Estate Loans Receivable
The following summarizes the activity related to real estate loans receivable for the six months ended June 30, 2015 (in thousands):
Real estate loans receivable, net - December 31, 2014
$
28,922

Principal repayments received on real estate loans receivable
(78
)
Accretion of discounts on purchased real estate loans receivable
506

Amortization of origination fees and costs on purchased and originated real estate loans receivable
(15
)
Real estate loans receivable, net - June 30, 2015
$
29,335

Schedule of Interest Income from Real Estate Loans Receivable
For the three and six months ended June 30, 2015 and 2014, interest income from real estate loans receivable consisted of the following (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Contractual interest income
$
491

 
$
558

 
$
976

 
$
1,111

Interest accretion
258

 
265

 
506

 
522

Amortization of origination fees and costs
(8
)
 
(9
)
 
(15
)
 
(18
)
Interest income from real estate loans receivable
$
741

 
$
814

 
$
1,467

 
$
1,615

v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Tables)
6 Months Ended
Jun. 30, 2015
Discontinued Operations and Disposal Groups [Abstract]  
Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale
The following summary presents the major components of assets and liabilities related to real estate held for sale as of June 30, 2015 and December 31, 2014 (in thousands):
 
June 30, 2015
 
December 31, 2014
Assets related to real estate held for sale
 
 
 
Total real estate, at cost and net of impairment charges
$

 
$
166,715

Accumulated depreciation and amortization

 
(18,361
)
Real estate held for sale, net

 
148,354

Other assets

 
10,462

Total assets related to real estate held for sale
$

 
$
158,816

Liabilities related to real estate held for sale
 
 
 
Notes payable

 
79,969

Other liabilities

 
3,087

Total liabilities related to real estate held for sale
$

 
$
83,056

Schedule of Revenue and Expenses Related to Real Estate Properties
The following table summarizes certain revenues and expenses related to all of these properties, which were included in continuing operations (in thousands):
 
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
 
2015
 
2014
 
2015
 
2014
Revenues
 
 
 
 
 
 
 
 
Rental income
 
$
1,518

 
$
7,880

 
$
6,280

 
$
15,773

Tenant reimbursements and other operating income
 
37

 
1,436

 
1,286

 
3,191

Total Revenues
 
1,555

 
9,316

 
7,566

 
18,964

Expenses
 
 
 
 
 
 
 
 
Operating, maintenance, and management
 
389

 
2,621

 
2,753

 
5,229

Real estate taxes and insurance
 
89

 
1,279

 
682

 
2,419

Asset management fees to affiliate
 

 
193

 
98

 
388

General and administrative expenses
 
2

 
13

 

 
20

Depreciation and amortization
 

 
3,446

 
1,500

 
6,885

Interest expense
 
402

 
3,714

 
1,802

 
7,442

Impairment of real estate
 

 
939

 

 
2,196

Total expenses
 
882

 
12,205

 
6,835

 
24,579

Schedule of Operating Income from Discontinued Operations
The following table summarizes operating income from discontinued operations for the three and six months ended June 30, 2015 and 2014 (in thousands):
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Total revenues and other income
$

 
$
195

 
$
45

 
$
886

Total expenses
7

 
195

 
7

 
652

(Loss) income from discontinued operations before gain on sales of real estate, net, and impairment charge
(7
)
 

 
38

 
234

Gain on sales of real estate, net

 
89

 
124

 
3,006

Impairment charge

 
(81
)
 

 
(81
)
(Loss) income from discontinued operations
$
(7
)
 
$
8

 
$
162

 
$
3,159

v2.4.1.9
NOTES PAYABLE (Tables)
6 Months Ended
Jun. 30, 2015
Notes Payable [Abstract]  
Schedule of Long-term Debt Instruments
As of June 30, 2015 and December 31, 2014, the Company’s notes payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands):
Loan Type
 
Book Value as of
June 30, 2015
 
Book Value as of
December 31, 2014
 
Contractual
Interest Rates as of
June 30, 2015 (1)
 
Weighted-Average
Interest Rates as of
June 30, 2015 (1)
 
Weighted-Average
Remaining Term
in Years (2)
Fixed Rate
 
 
 
 
 
 
 
 
 
 
Mortgage loans
 
$
62,200

 
$
62,200

 
5.9%
 
5.9%
 
1.3
GKK Properties mortgage loans (3)
 
312,090

 
381,179

 
5.3% - 6.8%
 
5.9%
 
3.9
 
 
374,290

 
443,379

 
 
 
 
 
 
Variable Rate
 
 
 
 
 
 
 
 
 
 
Mortgage loans
 
164,131

 
181,249

 
One-month LIBOR + 1.80%
 
2.0%
 
0.5
GKK Properties mortgage loan (4)
 

 
40,000

 
(4) 
 
(4) 
 
(4) 
 
 
164,131

 
221,249

 
 
 
 
 
 
Total notes payable principal outstanding
 
538,421

 
664,628

 
 
 
 
 
 
Discount on notes payable, net (5)
 
(3,677
)
 
(6,530
)
 
 
 
 
 
 
Total notes payable, net  
 
$
534,744

 
$
658,098

 
 
 
 
 
 
_____________________
(1) Contractual interest rates as of June 30, 2015 represent the range of interest rates in effect under these loans as of June 30, 2015. Weighted-average interest rates as of June 30, 2015 are calculated as the actual interest rates in effect under these loans as of June 30, 2015 (consisting of the contractual interest rates), using interest rate indices as of June 30, 2015, where applicable.
(2) Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of June 30, 2015; subject to certain conditions, the maturity dates of certain loans may be further extended.
(3) On May 1, 2015, in connection with the disposition of 101 Independence, the Company repaid the entire $65.3 million principal balance and all other sums due under a mortgage loan secured by 101 Independence, including a prepayment premium of $4.4 million, and wrote-off an unamortized discount on note payable of $2.0 million.
(4) On May 15, 2015, the Company repaid the entire outstanding principal balance due and all other sums due under this loan.
(5) Represents the unamortized discounts and premiums on notes payable due to the above- and below-market interest rates when the loans were assumed. The discounts and premiums are amortized over the remaining life of the respective loan.
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 June 30, 2015 (in thousands):
July 1, 2015 through December 31, 2015
$
5,464

2016
235,577

2017
129,175

2018
8,651

2019
126,044

Thereafter
33,510

 
$
538,421

Schedule of Activity Related to Notes Payable and Repurchase Agreements
The following summarizes the activity related to notes payable for the six months ended June 30, 2015 (in thousands):
Total notes payable, net  - December 31, 2014
$
658,098

Principal repayments
(126,207
)
Write-off of discount on notes payable related to sale
1,986

Amortization of discounts and premiums on notes payable, net
867

Total notes payable, net  - June 30, 2015
$
534,744

v2.4.1.9
FAIR VALUE DISCLOSURES (Tables)
6 Months Ended
Jun. 30, 2015
Fair Value Disclosures [Abstract]  
Schedule of Face Value, Carrying Amounts and Fair Value
The following were the face values, carrying amounts and fair values of the Company’s real estate loans receivable and notes payable as of June 30, 2015 and December 31, 2014, which carrying amounts generally do not approximate the fair values (in thousands):
 
June 30, 2015
 
December 31, 2014
 
Face Value    
 
Carrying
Amount      
 
Fair Value    
 
Face Value    
 
Carrying
Amount      
 
Fair Value    
Financial assets:
 
 
 
 
 
 
 
 
 
 
 
Real estate loans receivable (1)
$
35,887

 
$
29,335

 
$
26,763

 
$
35,966

 
$
28,922

 
$
25,818

Financial liabilities:
 
 
 
 
 
 
 
 
 
 
 
Notes payable
$
538,421

 
$
534,744

 
$
555,327

 
$
664,628

 
$
658,098

 
$
688,374

_____________________
(1) Carrying amount of real estate loans receivable includes loan loss reserves.
v2.4.1.9
RELATED PARTY TRANSACTIONS (Tables)
6 Months Ended
Jun. 30, 2015
Related Party Transactions [Abstract]  
Schedule of Related Party Costs
Pursuant to the terms of the Advisory Agreement and the AIP Reimbursement Agreement, summarized below are the related-party costs incurred by the Company for the three and six months ended June 30, 2015 and 2014, respectively, and any related amounts payable as of June 30, 2015 and December 31, 2014 (in thousands):
 
Incurred
 
Payable
 
Three Months Ended June 30,
 
Six Months Ended June 30,
 
June 30,
 
December 31,
 
2015
 
2014
 
2015
 
2014
 
2015
2014
Expensed
 
 
 
 
 
 
 
 
 
 
 
Asset management fees(1)
$
2,346

 
$
2,530

 
$
4,766

 
$
5,046

 
$

 
$

Reimbursement of operating expenses(2)
52

 
54

 
99

 
103

 
33

 
45

Disposition fees(3)
1,068

 
399

 
2,253

 
775

 

 
399

 
$
3,466

 
$
2,983

 
$
7,118

 
$
5,924

 
$
33

 
$
444

_____________________
(1) Amounts include asset management fees from discontinued operations totaling $17,000 for the six months ended June 30, 2014.
(2) The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses 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 $50,000 and $54,000 for the three months ended June 30, 2015 and 2014, respectively, and $95,000 and $0.1 million for the six months ended June 30, 2015 and 2014, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. The Company will not reimburse for employee costs in connection with services for which the Advisor earns 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.
(3) Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.
v2.4.1.9
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Tables)
6 Months Ended
Jun. 30, 2015
Supplemental Cash Flow and Significant Noncash Transaction Disclosures [Abstract]  
Schedule of Cash Flow, Supplemental Disclosures
Supplemental cash flow and significant noncash transaction disclosures were as follows (in thousands):
 
For the Six Months Ended June 30,
 
2015
 
2014
Supplemental Disclosure of Cash Flow Information:
 
 
 
Interest paid
$
13,671

 
$
23,313

Supplemental Disclosure of Significant Noncash Transactions:
 
 
 
Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure
$

 
$
6,134

Increase in lease incentives payable
$
423

 
$
1,925

v2.4.1.9
SEGMENT INFORMATION (Tables)
6 Months Ended
Jun. 30, 2015
Segment Reporting [Abstract]  
Schedule of Segment Reporting Information, by Segment
The following tables summarize total revenues, interest expense and NOI for each reportable segment for the three and six months ended June 30, 2015 and 2014, and total assets and total liabilities for each reportable segment as of June 30, 2015 and December 31, 2014 (in thousands):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Revenues:
 
 
 
 
 
 
 
Real estate segment (1)
$
16,488

 
$
18,231

 
$
34,329

 
$
37,151

Real estate-related segment
741

 
815

 
1,467

 
1,615

GKK Properties segment (1)
27,737

 
35,415

 
58,748

 
69,702

Total revenues
$
44,966

 
$
54,461

 
$
94,544

 
$
108,468

Interest expense:
 
 
 
 
 
 
 
Real estate segment (1)
$
2,036

 
$
2,321

 
$
4,244

 
$
5,287

Real estate-related segment

 

 

 

GKK Properties segment (1)
6,048

 
10,715

 
12,572

 
21,294

Total interest expense
$
8,084

 
$
13,036

 
$
16,816

 
$
26,581

NOI:
 
 
 
 
 
 
 
Real estate segment (1)
$
6,660

 
$
8,381

 
$
13,055

 
$
15,945

Real estate-related segment
741

 
679

 
1,466

 
1,479

GKK Properties segment (1)
5,773

 
4,176

 
10,728

 
7,435

Total NOI
$
13,174

 
$
13,236

 
$
25,249

 
$
24,859

 
 
 
 
 
 
 
 
 
As of June 30,
 
As of December 31,
 
 
 
 
 
2015
 
2014
 
 
 
 
Assets:
 
 
 
 
 
 
 
Real estate segment
$
548,572

 
$
542,512

 
 
 
 
Real estate-related segment
29,488

 
29,096

 
 
 
 
GKK Properties segment
571,907

 
598,907

 
 
 
 
Total segment assets
1,149,967

 
1,170,515

 
 
 
 
Real estate held for sale

 
158,816

 
 
 
 
Foreclosed real estate held for sale

 
12,045

 
 
 
 
Corporate-level (2)
100,448

 
34,791

 
 
 
 
Total assets
$
1,250,415

 
$
1,376,167

 
 
 
 
Liabilities:
 
 
 
 
 
 
 
Real estate segment
$
243,804

 
$
240,965

 
 
 
 
Real estate-related segment
2

 

 
 
 
 
GKK Properties segment
377,045

 
433,735

 
 
 
 
Total segment liabilities
620,851

 
674,700

 
 
 
 
Real estate held for sale

 
83,056

 
 
 
 
Corporate-level (3)
932

 
5,638

 
 
 
 
Total liabilities
$
621,783

 
$
763,394

 
 
 
 
_____________________
(1) Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
(2) Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $100.2 million and $34.2 million as of June 30, 2015 and December 31, 2014, respectively.
(3) As of June 30, 2015, corporate-level liabilities consisted primarily of accounts payable and accrued liabilities for general and administrative expenses. As of December 31, 2014, corporate-level liabilities consisted primarily of distributions payable.
Reconciliation of Net Income (Loss) to Net Operating Income (Loss)
The following table reconciles the Company’s net income (loss) to its NOI for the three and six months ended June 30, 2015 and 2014 (amounts in thousands):
 
For the Three Months Ended June 30,
 
For the Six Months Ended June 30,
 
2015
 
2014
 
2015
 
2014
Net income (loss)
$
19,751

 
$
(7,652
)
 
$
28,340

 
$
(12,168
)
Gain on sales of real estate
(35,093
)
 
(2,041
)
 
(49,059
)
 
(2,041
)
Gain on sales of real estate securities

 
(662
)
 

 
(4,410
)
Loss (gain) from extinguishment of debt
6,385

 
(3,297
)
 
6,376

 
(5,112
)
Gain on sale of foreclosed real estate held for sale

 

 
(2,509
)
 

Other income and interest income
(474
)
 
(192
)
 
(590
)
 
(662
)
Asset management fees to affiliate
2,346

 
2,530

 
4,766

 
5,029

General and administrative expenses
6,047

 
3,685

 
8,277

 
7,329

Depreciation and amortization
14,205

 
17,961

 
29,810

 
35,884

Impairment charge on real estate held for investment

 
939

 

 
2,196

Provision for loan losses

 
1,973

 

 
1,973

Total loss (income) from discontinued operations
7

 
(8
)
 
(162
)
 
(3,159
)
NOI (1)
$
13,174

 
$
13,236

 
$
25,249

 
$
24,859


_____________________
(1) Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
v2.4.1.9
COMMITMENTS AND CONTINGENCIES (Tables)
6 Months Ended
Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]  
Future Minimum Lease Payments, Non-Cancelable Operating Leases
Future minimum lease payments owed by the Company under non-cancelable operating building and ground leases as of June 30, 2015 were as follows (in thousands):
July 1, 2015 through December 31, 2015
$
8,460

2016
16,455

2017
12,425

2018
2,413

2019
1,766

Thereafter
31,469

 
$
72,988

v2.4.1.9
ORGANIZATION (Details) (USD $)
6 Months Ended 12 Months Ended 28 Months Ended 80 Months Ended 113 Months Ended 0 Months Ended
Jun. 30, 2015
property
Dec. 31, 2014
May 30, 2008
Sep. 30, 2012
Jun. 30, 2015
Dec. 19, 2013
Sep. 01, 2011
property
Organizational Structure [Line Items]              
Partnership interest in the Operating Partnership and is its sole limited partner 99.00%us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPMembersOrLimitedPartnersOwnershipInterest            
Partnership interest in Operating Partnership 1.00%us-gaap_LimitedLiabilityCompanyLLCOrLimitedPartnershipLPManagingMemberOrGeneralPartnerOwnershipInterest            
Number of real estate properties 392us-gaap_NumberOfRealEstateProperties       392us-gaap_NumberOfRealEstateProperties    
Number of real estate loans receivable 4kbsreiti_NumberOfRealEstateLoansAndLeasesReceivable       4kbsreiti_NumberOfRealEstateLoansAndLeasesReceivable    
Redemptions of common stock $ 3,108,000us-gaap_StockRedeemedOrCalledDuringPeriodValue $ 7,890,000us-gaap_StockRedeemedOrCalledDuringPeriodValue          
Common Stock [Member]              
Organizational Structure [Line Items]              
Issuance of common stock, shares     171,109,494us-gaap_StockIssuedDuringPeriodSharesNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Issuance of common stock, value     1,700,000,000us-gaap_StockIssuedDuringPeriodValueNewIssues
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
       
Shares of common stock sold under dividend reinvestment plan, shares       28,306,086us-gaap_StockIssuedDuringPeriodSharesDividendReinvestmentPlan
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Shares of common stock sold under dividend reinvestment plan, value       233,700,000us-gaap_StockIssuedDuringPeriodValueDividendReinvestmentPlan
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
     
Redemptions of common stock, shares 687,722us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
1,771,186us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
    12,277,787us-gaap_StockRedeemedOrCalledDuringPeriodShares
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
   
Redemptions of common stock 7,000us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
17,000us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
    88,600,000us-gaap_StockRedeemedOrCalledDuringPeriodValue
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
   
KBS Capital Advisors LLC [Member]              
Organizational Structure [Line Items]              
Period of Advisory Agreement renewal 1 year            
Period of termination notice 60 days            
KBS Capital Advisors LLC [Member] | Common Stock [Member]              
Organizational Structure [Line Items]              
Shares held by affiliate 20,000kbsreiti_SharesHeldByAffiliate
/ dei_LegalEntityAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
      20,000kbsreiti_SharesHeldByAffiliate
/ dei_LegalEntityAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
/ us-gaap_StatementEquityComponentsAxis
= us-gaap_CommonStockMember
   
GKK Properties [Member]              
Organizational Structure [Line Items]              
Number of real estate properties             867us-gaap_NumberOfRealEstateProperties
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
Agreement for annual fee to be paid for real estate services, amount           $ 7,500,000kbsreiti_AgreementForAnnualFeeToBePaidForRealEstateServicesAmount
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
 
Amended service agreement, extension period           1 year  
GKK Properties [Member] | Minimum [Member]              
Organizational Structure [Line Items]              
Profit participation interest based on a percentage rate of gross fair value of gross sale price           10.00%kbsreiti_ProfitParticipationInterestBasedonaPercentageRateofGrossFairValueofGrossSalePrice
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RangeAxis
= us-gaap_MinimumMember
 
GKK Properties [Member] | Maximum [Member]              
Organizational Structure [Line Items]              
Profit participation interest based on a percentage rate of gross fair value of gross sale price           30.00%kbsreiti_ProfitParticipationInterestBasedonaPercentageRateofGrossFairValueofGrossSalePrice
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RangeAxis
= us-gaap_MaximumMember
 
GKK Properties [Member] | Bank Branches [Member]              
Organizational Structure [Line Items]              
Number of real estate properties             576us-gaap_NumberOfRealEstateProperties
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_BankBranchesMember
GKK Properties [Member] | Office Building [Member]              
Organizational Structure [Line Items]              
Number of real estate properties             291us-gaap_NumberOfRealEstateProperties
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
v2.4.1.9
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Details) (USD $)
0 Months Ended 3 Months Ended 6 Months Ended 12 Months Ended
May 13, 2015
Mar. 06, 2015
Jun. 30, 2015
property
Jun. 30, 2014
Jun. 30, 2015
property
Jun. 30, 2014
Dec. 31, 2014
property
Sep. 01, 2011
property
Summary of Significant Accounting Policies [Line Items]                
Number of real estate properties disposed     6kbsreiti_NumberofRealEstatePropertiesDisposed   6kbsreiti_NumberofRealEstatePropertiesDisposed   16kbsreiti_NumberofRealEstatePropertiesDisposed  
Number of real estate properties     392us-gaap_NumberOfRealEstateProperties   392us-gaap_NumberOfRealEstateProperties      
Distributions declared per common share $ 0.025us-gaap_CommonStockDividendsPerShareDeclared $ 0.025us-gaap_CommonStockDividendsPerShareDeclared   $ 0us-gaap_CommonStockDividendsPerShareDeclared $ 0.05us-gaap_CommonStockDividendsPerShareDeclared $ 0us-gaap_CommonStockDividendsPerShareDeclared    
Held-for-Sale [Member]                
Summary of Significant Accounting Policies [Line Items]                
Number of real estate properties             2us-gaap_NumberOfRealEstateProperties
/ us-gaap_DisposalGroupClassificationAxis
= us-gaap_DisposalGroupHeldforsaleNotDiscontinuedOperationsMember
 
GKK Properties [Member]                
Summary of Significant Accounting Policies [Line Items]                
Number of real estate properties disposed     4kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
  4kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
  11kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
 
Number of real estate properties               867us-gaap_NumberOfRealEstateProperties
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Narrative) (Details)
Jun. 30, 2015
States
sqft
Real Estate Properties [Line Items]  
Rentable square feet 9,200,000us-gaap_AreaOfRealEstateProperty
Percentage of real estate portfolio occupied 80.00%kbsreiti_PercentageOfRealEstatePortfolioOccupied
Number of states in which entity operates 31us-gaap_NumberOfStatesInWhichEntityOperates
GKK Properties [Member]  
Real Estate Properties [Line Items]  
Rentable square feet 5,700,000us-gaap_AreaOfRealEstateProperty
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
Percentage of real estate portfolio occupied 81.00%kbsreiti_PercentageOfRealEstatePortfolioOccupied
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Schedule of Real Estate Investments) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges $ 1,154,789us-gaap_RealEstateInvestmentPropertyAtCost $ 1,145,204us-gaap_RealEstateInvestmentPropertyAtCost
Accumulated depreciation/amortization (196,120)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation (175,047)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
Total real estate held for investment, net 958,669us-gaap_RealEstateInvestmentPropertyNet 970,157us-gaap_RealEstateInvestmentPropertyNet
Office [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 480,460us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
471,086us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
Industrial [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 101,698us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
100,489us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
GKK Properties [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 572,631us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
573,629us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
Land [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 265,278us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
265,278us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
Accumulated depreciation/amortization 0us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
0us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
Total real estate held for investment, net 265,278us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
265,278us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
Land [Member] | Office [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 68,178us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
68,178us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
Land [Member] | Industrial [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 16,787us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
16,787us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
Land [Member] | GKK Properties [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 180,313us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
180,313us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_LandMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
Buildings and Improvements [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 812,033us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
800,876us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
Accumulated depreciation/amortization (158,793)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
(141,306)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
Total real estate held for investment, net 653,240us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
659,570us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
Buildings and Improvements [Member] | Office [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 410,719us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
401,083us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
Buildings and Improvements [Member] | Industrial [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 82,667us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
80,565us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
Buildings and Improvements [Member] | GKK Properties [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 318,647us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
319,228us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= us-gaap_BuildingAndBuildingImprovementsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
Tenant Origination and Absorption Costs [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 77,478us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
79,050us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
Accumulated depreciation/amortization (37,327)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
(33,741)us-gaap_RealEstateInvestmentPropertyAccumulatedDepreciation
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
Total real estate held for investment, net 40,151us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
45,309us-gaap_RealEstateInvestmentPropertyNet
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
Tenant Origination and Absorption Costs [Member] | Office [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 1,563us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
1,825us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= us-gaap_OfficeBuildingMember
Tenant Origination and Absorption Costs [Member] | Industrial [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges 2,244us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
3,137us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_IndustrialMember
Tenant Origination and Absorption Costs [Member] | GKK Properties [Member]    
Real Estate Properties [Line Items]    
Real estate held for investment, at cost and net of impairment charges $ 73,671us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
$ 74,088us-gaap_RealEstateInvestmentPropertyAtCost
/ us-gaap_PropertyPlantAndEquipmentByTypeAxis
= kbsreiti_TenantOriginationAndAbsorptionCostsMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Operating Leases) (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended
Jun. 30, 2015
sqft
Tenants
Jun. 30, 2014
Dec. 31, 2014
Operating Leased Assets [Line Items]      
Square feet with exercised rights to shed 30,000kbsreiti_SquareFeetwithExercisedRightstoShed    
Recognition of deferred revenue, net of discontinued operations $ 0.9kbsreiti_RecognitionOfDeferredRevenueNetOfDiscontinuedOperations $ 1.7kbsreiti_RecognitionOfDeferredRevenueNetOfDiscontinuedOperations  
Amortization of lease incentives 0.7us-gaap_AmortizationOfLeaseIncentives 0.7us-gaap_AmortizationOfLeaseIncentives  
Deferred rent receivables 29.5us-gaap_DeferredRentReceivablesNet   27.4us-gaap_DeferredRentReceivablesNet
Unamortized lease incentives 6.2us-gaap_IncentiveToLessee   5.7us-gaap_IncentiveToLessee
Number of tenants 350kbsreiti_NumberOfTenants    
Bad debt reserve 1.2us-gaap_AllowanceForDoubtfulAccountsReceivable   1.1us-gaap_AllowanceForDoubtfulAccountsReceivable
Provision of doubtful accounts, net of discontinued operations 0.4kbsreiti_ProvisionOfDoubtfulAccountsNetOfDiscontinuedOperations 1.5kbsreiti_ProvisionOfDoubtfulAccountsNetOfDiscontinuedOperations  
Maximum [Member]      
Operating Leased Assets [Line Items]      
Operating lease, term 11 years 8 months 12 days    
Weighted Average [Member]      
Operating Leased Assets [Line Items]      
Operating lease, term 4 years 7 months 6 days    
GKK Properties [Member]      
Operating Leased Assets [Line Items]      
Bad debt reserve 0.8us-gaap_AllowanceForDoubtfulAccountsReceivable
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
  0.9us-gaap_AllowanceForDoubtfulAccountsReceivable
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_GkkPropertiesMember
GKK Properties [Member] | Maximum [Member]      
Operating Leased Assets [Line Items]      
Operating lease, term 11 years 8 months 12 days    
GKK Properties [Member] | Weighted Average [Member]      
Operating Leased Assets [Line Items]      
Operating lease, term 4 years 7 months 6 days    
Other Liabilities [Member]      
Operating Leased Assets [Line Items]      
Security deposit liability $ 2.9us-gaap_SecurityDepositLiability
/ us-gaap_BalanceSheetLocationAxis
= us-gaap_OtherLiabilitiesMember
  $ 3.0us-gaap_SecurityDepositLiability
/ us-gaap_BalanceSheetLocationAxis
= us-gaap_OtherLiabilitiesMember
Exercised at Various Dates (2015-2016) [Member]      
Operating Leased Assets [Line Items]      
Net rentable area 33,000us-gaap_NetRentableArea
/ kbsreiti_SheddingRightProvisionsAxis
= kbsreiti_ExercisedatVariousDates20152016Member
   
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Future Minimum Rental Income) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Real Estate Held for Investment [Abstract]  
July 1, 2015 through December 31, 2015 $ 56,749us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableRemainderOfFiscalYear
2016 113,907us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInTwoYears
2017 105,101us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInThreeYears
2018 92,065us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFourYears
2019 77,383us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableInFiveYears
Thereafter 198,008us-gaap_OperatingLeasesFutureMinimumPaymentsReceivableThereafter
Future minimum rental income $ 643,213us-gaap_OperatingLeasesFutureMinimumPaymentsReceivable
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Highes Tenant Industry Concentrations- Grater than 10% of Annual Base Rent) (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Tenants
Concentration Risk [Line Items]  
Number of Tenants 350kbsreiti_NumberOfTenants
Industry - Finance [Member]  
Concentration Risk [Line Items]  
Number of Tenants 72kbsreiti_NumberOfTenants
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_IndustryFinanceMember
Annualized Base Rent $ 56,839kbsreiti_AnnualizedBaseRent
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_IndustryFinanceMember
[1]
Percentage of Annualized Base Rent 48.60%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_IndustryFinanceMember
[1] Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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.
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Concentration of Credit Risk, Tenant Lease that Represents More than 10% of Annualized Base Rent) (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Weighted Average [Member]  
Concentration Risk [Line Items]  
Operating lease, term 4 years 7 months 6 days
Tenant Lease - Bank of America, N.A. [Member]  
Concentration Risk [Line Items]  
Rentable Square Feet 2,811,855us-gaap_NetRentableArea
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_TenantLeaseBankOfAmericaNAMember
Annualized Base Rent 22,494kbsreiti_AnnualizedBaseRent
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_TenantLeaseBankOfAmericaNAMember
[1]
Annualized Base Rent per Square Foot 8.00kbsreiti_AverageAnnualizedBaseRentPerSquareFoot
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_TenantLeaseBankOfAmericaNAMember
Tenant Lease - Bank of America, N.A. [Member] | Weighted Average [Member]  
Concentration Risk [Line Items]  
Operating lease, term 4 years 7 months 6 days
Tenant Lease - Bank of America, N.A. [Member] | Rentable Square Feet [Member]  
Concentration Risk [Line Items]  
Percentage of Annualized Base Rent 30.70%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= kbsreiti_RentableSquareFeetMember
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_TenantLeaseBankOfAmericaNAMember
Tenant Lease - Bank of America, N.A. [Member] | Base Rent [Member]  
Concentration Risk [Line Items]  
Percentage of Annualized Base Rent 19.20%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= kbsreiti_BaseRentMember
/ us-gaap_ConcentrationRiskByTypeAxis
= kbsreiti_TenantLeaseBankOfAmericaNAMember
[1] Annualized base rent represents annualized contractual base rental income as of June 30, 2015, 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.
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Condensed Financial Information of Bank of America Corporation) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Consolidated Statements of Income          
Total revenues $ 44,966,000us-gaap_Revenues $ 54,461,000us-gaap_Revenues $ 94,544,000us-gaap_Revenues $ 108,468,000us-gaap_Revenues  
Consolidated Balance Sheets          
Total assets 1,250,415,000us-gaap_Assets   1,250,415,000us-gaap_Assets   1,376,167,000us-gaap_Assets
Total liabilities 621,783,000us-gaap_Liabilities   621,783,000us-gaap_Liabilities   763,394,000us-gaap_Liabilities
Total stockholders’ equity 621,741,000us-gaap_StockholdersEquity   621,741,000us-gaap_StockholdersEquity   602,773,000us-gaap_StockholdersEquity
Bank of America Corporation [Member]          
Consolidated Statements of Income          
Total revenues 22,117,000,000us-gaap_Revenues
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
21,747,000,000us-gaap_Revenues
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
43,319,000,000us-gaap_Revenues
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
44,313,000,000us-gaap_Revenues
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
 
Income before income taxes 7,519,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
2,795,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
12,261,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
2,114,000,000us-gaap_IncomeLossFromContinuingOperationsBeforeIncomeTaxesExtraordinaryItemsNoncontrollingInterest
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
 
Net income (loss) 5,320,000,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
2,291,000,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
8,677,000,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
2,015,000,000us-gaap_NetIncomeLoss
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
 
Consolidated Balance Sheets          
Total assets 2,149,034,000,000us-gaap_Assets
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  2,149,034,000,000us-gaap_Assets
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  2,104,534,000,000us-gaap_Assets
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
Total liabilities 1,897,375,000,000us-gaap_Liabilities
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  1,897,375,000,000us-gaap_Liabilities
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  1,861,063,000,000us-gaap_Liabilities
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
Total stockholders’ equity $ 251,659,000,000us-gaap_StockholdersEquity
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  $ 251,659,000,000us-gaap_StockholdersEquity
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
  $ 243,471,000,000us-gaap_StockholdersEquity
/ dei_LegalEntityAxis
= kbsreiti_BankOfAmericaCorporationMember
v2.4.1.9
REAL ESTATE HELD FOR INVESTMENT (Geographic Concentration Risk) (Details)
6 Months Ended
Jun. 30, 2015
VIRGINIA | Assets, Total [Member]  
Concentration Risk [Line Items]  
Concentration risk, percentage 10.30%us-gaap_ConcentrationRiskPercentage1
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= us-gaap_AssetsTotalMember
/ us-gaap_StatementGeographicalAxis
= stpr_VA
Customer Concentration Risk [Member] | Annualized Rent [Member]  
Concentration Risk [Line Items]  
Number of customers 0kbsreiti_ConcentrationRiskNumberofCustomers
/ us-gaap_ConcentrationRiskByBenchmarkAxis
= kbsreiti_AnnualizedRentMember
/ us-gaap_ConcentrationRiskByTypeAxis
= us-gaap_CustomerConcentrationRiskMember
v2.4.1.9
TENANT ORIGINATION AND ABSORPTION COSTS, ABOVE-MARKET LEASE ASSETS AND BELOW-MARKET LEASE LIABILITIES (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Tenant Origination and Absorption Costs, Above-Market Lease Assets and Below-Market Lease Liabilities [Abstract]          
Tenant Origination and Absorption Costs, Cost, net of impairments $ 77,478kbsreiti_TenantOriginationAndAbsorptionCostsGross   $ 77,478kbsreiti_TenantOriginationAndAbsorptionCostsGross   $ 79,050kbsreiti_TenantOriginationAndAbsorptionCostsGross
Tenant Origination and Absorption Costs, Accumulated amortization (37,327)kbsreiti_TenantOriginationAndAbsorptionCostsAccumulatedAmortization   (37,327)kbsreiti_TenantOriginationAndAbsorptionCostsAccumulatedAmortization   (33,741)kbsreiti_TenantOriginationAndAbsorptionCostsAccumulatedAmortization
Tenant Origination and Absorption Costs, Net Amount 40,151kbsreiti_TenantOriginationAndAbsorptionCostsNet   40,151kbsreiti_TenantOriginationAndAbsorptionCostsNet   45,309kbsreiti_TenantOriginationAndAbsorptionCostsNet
Tenant Origination and Absorption Costs, Amortization expense (2,581)kbsreiti_TenantOriginationAndAbsorptionCostsAmortizationExpense (3,993)kbsreiti_TenantOriginationAndAbsorptionCostsAmortizationExpense (5,405)kbsreiti_TenantOriginationAndAbsorptionCostsAmortizationExpense (7,827)kbsreiti_TenantOriginationAndAbsorptionCostsAmortizationExpense  
Above-Market Lease Assets, Cost, net of impairments 32,685kbsreiti_AboveMarketLeasesGross   32,685kbsreiti_AboveMarketLeasesGross   32,796kbsreiti_AboveMarketLeasesGross
Above-Market Lease Assets, Accumulated amortization (13,103)kbsreiti_AboveMarketLeasesAccumulatedAmortization   (13,103)kbsreiti_AboveMarketLeasesAccumulatedAmortization   (11,118)kbsreiti_AboveMarketLeasesAccumulatedAmortization
Above-Market Lease Assets, Net Amount 19,582kbsreiti_AboveMarketLeasesNet   19,582kbsreiti_AboveMarketLeasesNet   21,678kbsreiti_AboveMarketLeasesNet
Above-Market Lease Assets, Amortization expense (1,303)kbsreiti_AboveMarketLeasesAmortizationExpense (1,001)kbsreiti_AboveMarketLeasesAmortizationExpense (2,158)kbsreiti_AboveMarketLeasesAmortizationExpense (2,009)kbsreiti_AboveMarketLeasesAmortizationExpense  
Below-Market Lease Liabilities, Cost, net of impairments (70,667)kbsreiti_OffMarketLeaseUnfavorableGross   (70,667)kbsreiti_OffMarketLeaseUnfavorableGross   (71,141)kbsreiti_OffMarketLeaseUnfavorableGross
Below-Market Lease Liabilities, Accumulated amortization 37,952kbsreiti_OffMarketLeaseUnfavorableAccumulatedAmortization   37,952kbsreiti_OffMarketLeaseUnfavorableAccumulatedAmortization   33,066kbsreiti_OffMarketLeaseUnfavorableAccumulatedAmortization
Below-Market Lease Liabilities, Net Amount (32,715)us-gaap_OffMarketLeaseUnfavorable   (32,715)us-gaap_OffMarketLeaseUnfavorable   (38,075)us-gaap_OffMarketLeaseUnfavorable
Below-Market Lease Liabilities, Amortization expense $ 3,594kbsreiti_OffMarketLeaseUnfavorableAmortizationExpense $ 3,094kbsreiti_OffMarketLeaseUnfavorableAmortizationExpense $ 6,239kbsreiti_OffMarketLeaseUnfavorableAmortizationExpense $ 6,115kbsreiti_OffMarketLeaseUnfavorableAmortizationExpense  
v2.4.1.9
REAL ESTATE LOANS RECEIVABLE (Schedule of Real Estate Loans Receivable) (Details) (USD $)
6 Months Ended
Jun. 30, 2015
Dec. 31, 2014
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Outstanding Principal Balance $ 35,887,000kbsreiti_MortgageLoansonRealEstateOutstandingPrincipalBalance [1]  
Book Value 33,329,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross [2] 32,916,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross [2]
Reserve for Loan Losses (3,994,000)us-gaap_AllowanceForLoanAndLeaseLossesRealEstate [3] (3,994,000)us-gaap_AllowanceForLoanAndLeaseLossesRealEstate [3]
Book Value 29,335,000us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet 28,922,000us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet
Interest receivable 100,000us-gaap_InterestReceivable 100,000us-gaap_InterestReceivable
Sandmar Mezzanine Loan Southeast U.S. [Member] | Mezzanine [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Date Acquired/ Originated Jan. 09, 2007 [4]  
Outstanding Principal Balance 5,110,000kbsreiti_MortgageLoansonRealEstateOutstandingPrincipalBalance
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SandmarMezzanineLoanSoutheastUSMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_MezzanineMember
[1],[4]  
Book Value 5,132,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SandmarMezzanineLoanSoutheastUSMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_MezzanineMember
[2],[4] 5,181,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SandmarMezzanineLoanSoutheastUSMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_MezzanineMember
[2],[4]
Contractual Interest Rate 5.40%us-gaap_MortgageLoansOnRealEstateInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SandmarMezzanineLoanSoutheastUSMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_MezzanineMember
[4],[5]  
Annualized Effective Interest Rate 0.00%us-gaap_ReceivableWithImputedInterestEffectiveYieldInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SandmarMezzanineLoanSoutheastUSMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_MezzanineMember
[4],[5]  
Maturity Date Jan. 01, 2017 [4]  
Lawrence Village Plaza Loan Origination New Castle, Pennsylvania [Member] | Mortgages [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Date Acquired/ Originated Aug. 06, 2007  
Outstanding Principal Balance 6,917,000kbsreiti_MortgageLoansonRealEstateOutstandingPrincipalBalance
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_LawrenceVillagePlazaLoanOriginationNewCastlePennsylvaniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= us-gaap_MortgagesMember
[1]  
Book Value 6,917,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_LawrenceVillagePlazaLoanOriginationNewCastlePennsylvaniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= us-gaap_MortgagesMember
[2] 6,920,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_LawrenceVillagePlazaLoanOriginationNewCastlePennsylvaniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= us-gaap_MortgagesMember
[2]
Contractual Interest Rate 8.00%us-gaap_MortgageLoansOnRealEstateInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_LawrenceVillagePlazaLoanOriginationNewCastlePennsylvaniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= us-gaap_MortgagesMember
[5]  
Annualized Effective Interest Rate 8.10%us-gaap_ReceivableWithImputedInterestEffectiveYieldInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_LawrenceVillagePlazaLoanOriginationNewCastlePennsylvaniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= us-gaap_MortgagesMember
[5]  
Maturity Date Sep. 01, 2015  
San Diego Office Portfolio B-Note San Diego, California [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Interest income 1,000,000us-gaap_InterestIncomeOperating
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
 
San Diego Office Portfolio B-Note San Diego, California [Member] | B-Note [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Date Acquired/ Originated Oct. 26, 2007 [6]  
Outstanding Principal Balance 20,000,000kbsreiti_MortgageLoansonRealEstateOutstandingPrincipalBalance
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[1],[6]  
Book Value 17,849,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[2],[6] 17,450,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[2],[6]
Contractual Interest Rate 5.80%us-gaap_MortgageLoansOnRealEstateInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[5],[6]  
Annualized Effective Interest Rate 11.20%us-gaap_ReceivableWithImputedInterestEffectiveYieldInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_SanDiegoOfficePortfolioBNoteSanDiegoCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[5],[6]  
Maturity Date Oct. 11, 2017 [6]  
4929 Wilshire B-Note Los Angeles, California [Member] | B-Note [Member]    
Accounts, Notes, Loans and Financing Receivable [Line Items]    
Date Acquired/ Originated Nov. 19, 2007  
Outstanding Principal Balance 3,860,000kbsreiti_MortgageLoansonRealEstateOutstandingPrincipalBalance
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_A4929WilshireBNoteLosAngelesCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[1]  
Book Value $ 3,431,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_A4929WilshireBNoteLosAngelesCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[2] $ 3,365,000kbsreiti_MortgageLoansOnRealEstateCommercialAndConsumerGross
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_A4929WilshireBNoteLosAngelesCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[2]
Contractual Interest Rate 6.10%us-gaap_MortgageLoansOnRealEstateInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_A4929WilshireBNoteLosAngelesCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[5]  
Annualized Effective Interest Rate 12.40%us-gaap_ReceivableWithImputedInterestEffectiveYieldInterestRate
/ us-gaap_MortgageLoansOnRealEstateDescriptionTypeOfPropertyAxis
= kbsreiti_A4929WilshireBNoteLosAngelesCaliforniaMember
/ us-gaap_MortgageLoansOnRealEstateLoanTypeAxis
= kbsreiti_BNoteMember
[5]  
Maturity Date Jul. 11, 2017  
[1] Outstanding principal balance as of June 30, 2015 represents original principal balance outstanding under the loan, increased for any subsequent fundings and reduced for any principal paydowns.
[2] Book value represents outstanding principal balance, adjusted for unamortized acquisition discounts, origination fees and direct origination and acquisition costs. Loan balances are presented gross of any asset-specific reserves.
[3] See “—Reserve for Loan Losses.”
[4] The Company had recorded an asset-specific loan loss reserve against this investment as of June 30, 2015. See “—Reserve for Loan Losses.”
[5] Contractual interest rate is the stated interest rate on the face of the loan. Annualized effective interest rate is calculated as the actual interest income recognized in 2015, using the interest method, annualized and divided by the average amortized cost basis of the investment during 2015. The contractual interest rates and annualized effective interest rates presented are as of June 30, 2015.
[6] The borrower under this note is a wholly owned subsidiary of the Irvine Company. Donald Bren, who is the brother of Peter Bren (one of the Company’s executive officers and sponsors), is the chairman of the Irvine Company. During the six months ended June 30, 2015, the Company recognized $1.0 million of interest income related to its investment in this loan.
v2.4.1.9
REAL ESTATE LOANS RECEIVABLE (Schedule of Activity Related to Real Estate Loans Receivable) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Real Estate Loans Receivable [Roll Forward]        
Real estate loans receivable, net - December 31, 2014     $ 28,922us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet  
Principal repayments received on real estate loans receivable     (78)us-gaap_ProceedsFromPrincipalRepaymentsOnLoansAndLeasesHeldForInvestment  
Accretion of discounts on purchased real estate loans receivable     506kbsreiti_AccretionOfDiscountsOnPurchasedRealEstateLoansReceivable  
Amortization of origination fees and costs on purchased and originated real estate loans receivable (8)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (9)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (15)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (18)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet
Real estate loans receivable, net - June 30, 2015 $ 29,335us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet   $ 29,335us-gaap_MortgageLoansOnRealEstateCommercialAndConsumerNet  
v2.4.1.9
REAL ESTATE LOANS RECEIVABLE (Schedule of Interest Income from Real Estate Loans Receivable) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Real Estate Properties [Line Items]        
Contractual interest income $ 491,000us-gaap_InterestAndFeeIncomeLoansCommercial $ 558,000us-gaap_InterestAndFeeIncomeLoansCommercial $ 976,000us-gaap_InterestAndFeeIncomeLoansCommercial $ 1,111,000us-gaap_InterestAndFeeIncomeLoansCommercial
Interest accretion 258,000us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 265,000us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 506,000us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments 522,000us-gaap_AccretionAmortizationOfDiscountsAndPremiumsInvestments
Amortization of origination fees and costs (8,000)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (9,000)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (15,000)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet (18,000)us-gaap_AmortizationOfDeferredLoanOriginationFeesNet
Interest income from real estate loans receivable 741,000us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 814,000us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 1,467,000us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate 1,615,000us-gaap_InterestAndFeeIncomeLoansCommercialRealEstate
Sandmar Mezzanine Loan [Member]        
Real Estate Properties [Line Items]        
Interest income related to impaired loans       $ 200,000kbsreiti_InterestIncomeRelatedToImpairedLoansWithAssetSpecificReserves
/ kbsreiti_RealEstateLoansByNameAxis
= kbsreiti_SandmarMezzanineLoanMember
v2.4.1.9
REAL ESTATE LOANS RECEIVABLE (Reserve for Loan Losses) (Details) (USD $)
Jun. 30, 2015
Dec. 31, 2014
Mortgage Loans on Real Estate [Line Items]    
Reserve for loan losses $ 3,994,000us-gaap_AllowanceForLoanAndLeaseLossesRealEstate [1] $ 3,994,000us-gaap_AllowanceForLoanAndLeaseLossesRealEstate [1]
Sandmar Mezzanine Loan [Member]    
Mortgage Loans on Real Estate [Line Items]    
Reserve for loan losses 4,000,000us-gaap_AllowanceForLoanAndLeaseLossesRealEstate
/ kbsreiti_RealEstateLoansByNameAxis
= kbsreiti_SandmarMezzanineLoanMember
 
Mortgage loans on real estate, amortized cost basis $ 5,100,000kbsreiti_MortgageLoansOnRealEstateAmortizedCostBasis
/ kbsreiti_RealEstateLoansByNameAxis
= kbsreiti_SandmarMezzanineLoanMember
 
[1] See “—Reserve for Loan Losses.”
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Narrative) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2015
property
Jun. 30, 2015
property
Dec. 31, 2014
property
Sep. 01, 2011
property
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of real estate properties disposed 6kbsreiti_NumberofRealEstatePropertiesDisposed 6kbsreiti_NumberofRealEstatePropertiesDisposed 16kbsreiti_NumberofRealEstatePropertiesDisposed  
Number of real estate properties with terminated leasehold interest   3kbsreiti_NumberofRealEstatePropertieswithTerminatedLeaseholdInterest 3kbsreiti_NumberofRealEstatePropertieswithTerminatedLeaseholdInterest  
Number of real estate properties 392us-gaap_NumberOfRealEstateProperties 392us-gaap_NumberOfRealEstateProperties    
Real estate held for sale, net 0us-gaap_RealEstateHeldforsale 0us-gaap_RealEstateHeldforsale 148,354us-gaap_RealEstateHeldforsale  
GKK Properties [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of real estate properties disposed 4kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
4kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
11kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
 
Additional number of real estate properties disposed     2kbsreiti_AdditionalNumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
 
Real estate properties transferred in connection with foreclosure     2kbsreiti_RealEstatePropertiesTransferredinConnectionwithForeclosure
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
 
Number of real estate properties       867us-gaap_NumberOfRealEstateProperties
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
Historical Real Estate [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of real estate properties disposed 2kbsreiti_NumberofRealEstatePropertiesDisposed
/ us-gaap_MajorPropertyClassAxis
= kbsreiti_HistoricalRealEstateMember
  4kbsreiti_NumberofRealEstatePropertiesDisposed
/ us-gaap_MajorPropertyClassAxis
= kbsreiti_HistoricalRealEstateMember
 
Historical Real Estate [Member] | GKK Properties [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of real estate properties disposed 3kbsreiti_NumberofRealEstatePropertiesDisposed
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_MajorPropertyClassAxis
= kbsreiti_HistoricalRealEstateMember
     
Held-for-Investment [Member]        
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]        
Number of real estate properties disposed     5kbsreiti_NumberofRealEstatePropertiesDisposed
/ us-gaap_MajorPropertyClassAxis
= kbsreiti_AssetsHeldForInvestmentMember
 
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Major Components of Real Estate Held for Sale and Liabilities Related to Real Estate Held for Sale) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Discontinued Operations and Disposal Groups [Abstract]    
Total real estate, at cost and net of impairment charges $ 0kbsreiti_RealEstateHeldForSaleAtCost $ 166,715kbsreiti_RealEstateHeldForSaleAtCost
Accumulated depreciation and amortization 0kbsreiti_RealEstateHeldForSaleAccumulatedDepreciation (18,361)kbsreiti_RealEstateHeldForSaleAccumulatedDepreciation
Real estate held for sale, net 0us-gaap_RealEstateHeldforsale 148,354us-gaap_RealEstateHeldforsale
Other assets 0us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation 10,462us-gaap_AssetsOfDisposalGroupIncludingDiscontinuedOperation
Total assets related to real estate held for sale 0kbsreiti_RealEstateHeldForSaleTotal 158,816kbsreiti_RealEstateHeldForSaleTotal
Notes payable 0us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation 79,969us-gaap_LiabilitiesOfDisposalGroupIncludingDiscontinuedOperation
Other liabilities 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale 3,087kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale
Total liabilities related to real estate held for sale $ 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSaleTotal $ 83,056kbsreiti_LiabilitiesRelatedToRealEstateHeldForSaleTotal
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Revenue and Expenses) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Revenues        
Rental income $ 32,432us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 38,618us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 67,797us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 77,762us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Tenant reimbursements and other operating income 11,133us-gaap_TenantReimbursements 14,073us-gaap_TenantReimbursements 23,688us-gaap_TenantReimbursements 27,131us-gaap_TenantReimbursements
Total revenues 44,966us-gaap_Revenues 54,461us-gaap_Revenues 94,544us-gaap_Revenues 108,468us-gaap_Revenues
Expenses        
Operating, maintenance, and management 17,843us-gaap_CostOfRealEstateRevenue 21,431us-gaap_CostOfRealEstateRevenue 39,833us-gaap_CostOfRealEstateRevenue 42,830us-gaap_CostOfRealEstateRevenue
Real estate taxes and insurance 5,865us-gaap_RealEstateTaxesAndInsurance 6,758us-gaap_RealEstateTaxesAndInsurance 12,646us-gaap_RealEstateTaxesAndInsurance 14,198us-gaap_RealEstateTaxesAndInsurance
Asset management fees to affiliate 2,346us-gaap_AssetManagementCosts 2,530us-gaap_AssetManagementCosts 4,766us-gaap_AssetManagementCosts 5,029us-gaap_AssetManagementCosts
General and administrative expenses 6,047us-gaap_GeneralAndAdministrativeExpense 3,685us-gaap_GeneralAndAdministrativeExpense 8,277us-gaap_GeneralAndAdministrativeExpense 7,329us-gaap_GeneralAndAdministrativeExpense
Depreciation and amortization 14,205us-gaap_DepreciationDepletionAndAmortization 17,961us-gaap_DepreciationDepletionAndAmortization 29,810us-gaap_DepreciationDepletionAndAmortization 35,884us-gaap_DepreciationDepletionAndAmortization
Interest expense 8,084us-gaap_InterestExpense 13,036us-gaap_InterestExpense 16,816us-gaap_InterestExpense 26,581us-gaap_InterestExpense
Impairment of real estate 0us-gaap_ImpairmentOfRealEstate 939us-gaap_ImpairmentOfRealEstate 0us-gaap_ImpairmentOfRealEstate 2,196us-gaap_ImpairmentOfRealEstate
Total expenses 54,390us-gaap_CostsAndExpenses 68,313us-gaap_CostsAndExpenses 112,148us-gaap_CostsAndExpenses 136,020us-gaap_CostsAndExpenses
Two Properties [Member]        
Revenues        
Rental income 1,518us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
7,880us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
6,280us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
15,773us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Tenant reimbursements and other operating income 37us-gaap_TenantReimbursements
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
1,436us-gaap_TenantReimbursements
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
1,286us-gaap_TenantReimbursements
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
3,191us-gaap_TenantReimbursements
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Total revenues 1,555us-gaap_Revenues
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
9,316us-gaap_Revenues
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
7,566us-gaap_Revenues
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
18,964us-gaap_Revenues
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Expenses        
Operating, maintenance, and management 389us-gaap_CostOfRealEstateRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
2,621us-gaap_CostOfRealEstateRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
2,753us-gaap_CostOfRealEstateRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
5,229us-gaap_CostOfRealEstateRevenue
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Real estate taxes and insurance 89us-gaap_RealEstateTaxesAndInsurance
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
1,279us-gaap_RealEstateTaxesAndInsurance
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
682us-gaap_RealEstateTaxesAndInsurance
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
2,419us-gaap_RealEstateTaxesAndInsurance
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Asset management fees to affiliate 0us-gaap_AssetManagementCosts
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
193us-gaap_AssetManagementCosts
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
98us-gaap_AssetManagementCosts
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
388us-gaap_AssetManagementCosts
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
General and administrative expenses 2us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
13us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
0us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
20us-gaap_GeneralAndAdministrativeExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Depreciation and amortization 0us-gaap_DepreciationDepletionAndAmortization
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
3,446us-gaap_DepreciationDepletionAndAmortization
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
1,500us-gaap_DepreciationDepletionAndAmortization
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
6,885us-gaap_DepreciationDepletionAndAmortization
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Interest expense 402us-gaap_InterestExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
3,714us-gaap_InterestExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
1,802us-gaap_InterestExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
7,442us-gaap_InterestExpense
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Impairment of real estate 0us-gaap_ImpairmentOfRealEstate
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
939us-gaap_ImpairmentOfRealEstate
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
0us-gaap_ImpairmentOfRealEstate
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
2,196us-gaap_ImpairmentOfRealEstate
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
Total expenses $ 882us-gaap_CostsAndExpenses
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
$ 12,205us-gaap_CostsAndExpenses
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
$ 6,835us-gaap_CostsAndExpenses
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
$ 24,579us-gaap_CostsAndExpenses
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_TwoPropertiesMember
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Schedule of Operating Income from Discontinued Operations) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Discontinued Operations and Disposal Groups [Abstract]        
Total revenues and other income $ 0kbsreiti_RevenueAndOtherIncomeDiscontinuedOperations $ 195kbsreiti_RevenueAndOtherIncomeDiscontinuedOperations $ 45kbsreiti_RevenueAndOtherIncomeDiscontinuedOperations $ 886kbsreiti_RevenueAndOtherIncomeDiscontinuedOperations
Total expenses 7kbsreiti_CostAndExpenseDiscontinuedOperations 195kbsreiti_CostAndExpenseDiscontinuedOperations 7kbsreiti_CostAndExpenseDiscontinuedOperations 652kbsreiti_CostAndExpenseDiscontinuedOperations
(Loss) income from discontinued operations before gain on sales of real estate, net, and impairment charge (7)us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 0us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 38us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax 234us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationDuringPhaseOutPeriodNetOfTax
Gain on sales of real estate, net 0us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 89us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 124us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax 3,006us-gaap_DiscontinuedOperationGainLossOnDisposalOfDiscontinuedOperationNetOfTax
Impairment charge 0us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf (81)us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf 0us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf (81)us-gaap_ImpairmentOfLongLivedAssetsToBeDisposedOf
Total (loss) income from discontinued operations $ (7)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax $ 8us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax $ 162us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax $ 3,159us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
v2.4.1.9
REAL ESTATE HELD FOR SALE AND DISCONTINUED OPERATIONS (Significant Transactions) (Details) (USD $)
0 Months Ended
May 01, 2015
Jun. 30, 2015
Dec. 31, 2014
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Real estate held for sale, net   $ 0us-gaap_RealEstateHeldforsale $ 148,354,000us-gaap_RealEstateHeldforsale
Real Estate Held-for-Sale, Accumulated Depreciation   0kbsreiti_RealEstateHeldForSaleAccumulatedDepreciation 18,361,000kbsreiti_RealEstateHeldForSaleAccumulatedDepreciation
101 Independence [Member]      
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]      
Net rentable area 565,694us-gaap_NetRentableArea
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
Sales of real estate 107,800,000us-gaap_SalesOfRealEstate
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
Sales of real estate, net of concessions and credits 106,800,000kbsreiti_SalesofRealEstateNetofConcessionsandCredits
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
Real estate held for sale, net 69,500,000us-gaap_RealEstateHeldforsale
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
Real Estate Held-for-Sale, Accumulated Depreciation 13,300,000kbsreiti_RealEstateHeldForSaleAccumulatedDepreciation
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
Gain (Loss) on Sale of Properties $ 35,000,000us-gaap_GainLossOnSaleOfProperties
/ us-gaap_IncomeStatementBalanceSheetAndAdditionalDisclosuresByDisposalGroupsIncludingDiscontinuedOperationsAxis
= kbsreiti_A101IndependenceMember
   
v2.4.1.9
FORECLOSED REAL ESTATE HELD FOR SALE (Details) (USD $)
3 Months Ended 6 Months Ended 24 Months Ended
Jun. 30, 2015
Units
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2007
Investments
Dec. 31, 2014
Feb. 19, 2010
Real Estate Properties [Line Items]              
Number of debt investments         3kbsreiti_NumberOfDebtInvestments    
Foreclosed real estate held for sale $ 0kbsreiti_ForeclosedRealEstateHeldForSale   $ 0kbsreiti_ForeclosedRealEstateHeldForSale     $ 12,045,000kbsreiti_ForeclosedRealEstateHeldForSale  
Number of Residential Units Sold, Included in Disposition Fees 2kbsreiti_NumberofResidentialUnitsSoldIncludedinDispositionFees            
Gain on sales of foreclosed real estate held for sale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 2,509,000kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale      
Tribeca Building [Member]              
Real Estate Properties [Line Items]              
Number of units in real estate property         62us-gaap_NumberOfUnitsInRealEstateProperty
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
   
Right of ownership interest after foreclosure, percentage             100.00%kbsreiti_RightOfOwnershipInterestAfterForeclosurePercentage
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
Number of units in condominium building           2kbsreiti_NumberOfUnitsInCondominiumBuilding
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
 
Foreclosed real estate held for sale           12,000,000kbsreiti_ForeclosedRealEstateHeldForSale
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
 
Disposition Fees 200,000kbsreiti_DispositionFees
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
           
Foreclosed real estate expense     300,000us-gaap_ForeclosedRealEstateExpense
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
       
Tribeca Building [Member] | Retail Space [Member]              
Real Estate Properties [Line Items]              
Expense related to foreclosed real estate held-for-sale       $ 700,000kbsreiti_ExpenseRelatedToForeclosedRealEstateHeldForSale
/ invest_InvestmentAxis
= kbsreiti_TribecaBuildingMember
/ us-gaap_RealEstatePropertiesAxis
= kbsreiti_RetailSpaceMember
     
v2.4.1.9
NOTES PAYABLE (Narrative) (Details) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Debt Instrument [Line Items]          
Deferred financing costs $ 800,000us-gaap_DeferredFinanceCostsNoncurrentNet   $ 800,000us-gaap_DeferredFinanceCostsNoncurrentNet   $ 1,900,000us-gaap_DeferredFinanceCostsNoncurrentNet
Interest expense 8,084,000us-gaap_InterestExpense 13,036,000us-gaap_InterestExpense 16,816,000us-gaap_InterestExpense 26,581,000us-gaap_InterestExpense  
Amortization of financing cost, net of discontinued operations 800,000kbsreiti_AmortizationOfFinancingCostNetOfDiscontinuedOperations 400,000kbsreiti_AmortizationOfFinancingCostNetOfDiscontinuedOperations 1,300,000kbsreiti_AmortizationOfFinancingCostNetOfDiscontinuedOperations 700,000kbsreiti_AmortizationOfFinancingCostNetOfDiscontinuedOperations  
Amortization of discounts and premiums on notes payable, net     867,000us-gaap_AmortizationOfDebtDiscountPremium 2,137,000us-gaap_AmortizationOfDebtDiscountPremium  
Interest payable 2,900,000us-gaap_InterestPayableCurrentAndNoncurrent   2,900,000us-gaap_InterestPayableCurrentAndNoncurrent   1,900,000us-gaap_InterestPayableCurrentAndNoncurrent
Notes Payable [Member]          
Debt Instrument [Line Items]          
Amortization of discounts and premiums on notes payable, net $ 400,000us-gaap_AmortizationOfDebtDiscountPremium
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
$ 1,500,000us-gaap_AmortizationOfDebtDiscountPremium
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
$ 900,000us-gaap_AmortizationOfDebtDiscountPremium
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
$ 2,100,000us-gaap_AmortizationOfDebtDiscountPremium
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
 
v2.4.1.9
NOTES PAYABLE (Schedule of Long-term Debt Instruments) (Details) (USD $)
6 Months Ended 0 Months Ended
Jun. 30, 2015
May 01, 2015
Dec. 31, 2014
Debt Instrument [Line Items]      
Total notes payable principal outstanding $ 538,421,000us-gaap_DebtInstrumentCarryingAmount    
Total notes payable, net 534,744,000us-gaap_LongTermDebt   658,098,000us-gaap_LongTermDebt
Write-off of discount on notes payable 1,986,000kbsreiti_Writeoffofdiscountonnotespayablerelatedtosale    
Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 538,421,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
  664,628,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
Discount on notes payable, net (3,677,000)us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
[1]   (6,530,000)us-gaap_DebtInstrumentUnamortizedDiscountPremiumNet
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
[1]
Fixed Rate [Member]      
Debt Instrument [Line Items]      
Weighted-average interest rate 5.90%us-gaap_DebtWeightedAverageInterestRate
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[2]    
Fixed Rate [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 374,290,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
  443,379,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
Fixed Rate [Member] | GKK Properties [Member]      
Debt Instrument [Line Items]      
Weighted-average interest rate 5.90%us-gaap_DebtWeightedAverageInterestRate
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[2],[3]    
Fixed Rate [Member] | GKK Properties [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 312,090,000us-gaap_DebtInstrumentCarryingAmount
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[3]   381,179,000us-gaap_DebtInstrumentCarryingAmount
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[3]
Contractual interest rate, minimum 5.30%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMinimum
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[2]    
Contractual interest rate, maximum 6.80%us-gaap_DebtInstrumentInterestRateStatedPercentageRateRangeMaximum
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
[2]    
Weighted-Average Remaining Term in Years 3 years 10 months 24 days [3],[4]    
Variable Rate [Member]      
Debt Instrument [Line Items]      
Weighted-average interest rate 2.00%us-gaap_DebtWeightedAverageInterestRate
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
[2]    
Variable Rate [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 164,131,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
  221,249,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
Variable Rate [Member] | GKK Properties [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 0us-gaap_DebtInstrumentCarryingAmount
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
[5]   40,000,000us-gaap_DebtInstrumentCarryingAmount
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
[5]
Mortgages [Member]      
Debt Instrument [Line Items]      
Extinguishment of debt   65,300,000us-gaap_ExtinguishmentOfDebtAmount
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
 
Mortgages [Member] | 101 Independence [Member]      
Debt Instrument [Line Items]      
Debt Instrument, prepayment premium   4,400,000kbsreiti_DebtInstrumentPrepaymentPremium
/ us-gaap_DebtInstrumentAxis
= kbsreiti_A101IndependenceMember
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
 
Mortgages [Member] | Fixed Rate [Member]      
Debt Instrument [Line Items]      
Contractual interest rate 5.90%us-gaap_DebtInstrumentInterestRateStatedPercentage
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
   
Mortgages [Member] | Fixed Rate [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding 62,200,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
  62,200,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_FixedRateMember
Weighted-Average Remaining Term in Years 1 year 3 months 18 days [4]    
Mortgages [Member] | Variable Rate [Member] | Notes Payable [Member]      
Debt Instrument [Line Items]      
Total notes payable principal outstanding $ 164,131,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
  $ 181,249,000us-gaap_DebtInstrumentCarryingAmount
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
Weighted-Average Remaining Term in Years 6 months [4]    
Mortgages [Member] | Variable Rate [Member] | Notes Payable [Member] | One-month LIBOR [Member]      
Debt Instrument [Line Items]      
Variable rate 1.80%us-gaap_DebtInstrumentBasisSpreadOnVariableRate1
/ us-gaap_InvestmentTypeAxis
= us-gaap_MortgagesMember
/ us-gaap_LongtermDebtTypeAxis
= us-gaap_NotesPayableOtherPayablesMember
/ kbsreiti_MortgageLoanOnRealEstateLoansRateTypeAxis
= kbsreiti_VariableRateMember
/ us-gaap_VariableRateAxis
= kbsreiti_OneMonthLondonInterbankOfferedRateLiborMember
   
[1] Represents the unamortized discounts and premiums on notes payable due to the above- and below-market interest rates when the loans were assumed. The discounts and premiums are amortized over the remaining life of the respective loan.
[2] Contractual interest rates as of June 30, 2015 represent the range of interest rates in effect under these loans as of June 30, 2015. Weighted-average interest rates as of June 30, 2015 are calculated as the actual interest rates in effect under these loans as of June 30, 2015 (consisting of the contractual interest rates), using interest rate indices as of June 30, 2015, where applicable.
[3] On May 1, 2015, in connection with the disposition of 101 Independence, the Company repaid the entire $65.3 million principal balance and all other sums due under a mortgage loan secured by 101 Independence, including a prepayment premium of $4.4 million, and wrote-off an unamortized discount on note payable of $2.0 million.
[4] Weighted-average remaining term in years represents the initial maturity dates or the maturity dates as extended as of June 30, 2015; subject to certain conditions, the maturity dates of certain loans may be further extended.
[5] On May 15, 2015, the Company repaid the entire outstanding principal balance due and all other sums due under this loan.
v2.4.1.9
NOTES PAYABLE (Schedule of Maturities of Long-Term Debt) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Notes Payable [Abstract]  
July 1, 2015 through December 31, 2015 $ 5,464kbsreiti_LongtermDebtMaturitiesRepaymentsofPrincipalRemainingFiscalYear
2016 235,577us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
2017 129,175us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
2018 8,651us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
2019 126,044us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
Thereafter 33,510us-gaap_LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
Notes payable outstanding $ 538,421us-gaap_DebtInstrumentCarryingAmount
v2.4.1.9
NOTES PAYABLE (Schedule of Activity Related to Notes Payable) (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Activity Related to Notes Payable [Roll Forward]    
Total notes payable, net - December 31, 2014 $ 658,098us-gaap_NotesAndLoansPayable  
Principal repayments (126,207)kbsreiti_RepaymentsOfNotesPayableIncludingNonCashTransactions  
Write-off of discount on notes payable related to sale 1,986kbsreiti_Writeoffofdiscountonnotespayablerelatedtosale  
Amortization of discounts and premiums on notes payable, net 867us-gaap_AmortizationOfDebtDiscountPremium 2,137us-gaap_AmortizationOfDebtDiscountPremium
Total notes payable, net - June 30, 2015 $ 534,744us-gaap_NotesAndLoansPayable  
v2.4.1.9
FAIR VALUE DISCLOSURES (Schedule of Face Value, Carrying Amounts and Fair Value) (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Real estate loans receivable, Face Value $ 35,887us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages [1] $ 35,966us-gaap_MortgageLoansOnRealEstateFaceAmountOfMortgages [1]
Notes payable, Face Value 538,421kbsreiti_NotesPayableGross 664,628kbsreiti_NotesPayableGross
Notes payable, Value 534,744us-gaap_NotesPayable 658,098us-gaap_NotesPayable
Carrying Amount [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Real estate loans receivable, Value 29,335us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[1] 28,922us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
[1]
Notes payable, Value 534,744us-gaap_NotesPayable
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
658,098us-gaap_NotesPayable
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_CarryingReportedAmountFairValueDisclosureMember
Fair Value [Member]    
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]    
Real estate loans receivable, Value 26,763us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[1] 25,818us-gaap_LoansReceivableFairValueDisclosure
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[1]
Notes payable, Value $ 555,327us-gaap_NotesPayable
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
$ 688,374us-gaap_NotesPayable
/ us-gaap_FairValueByMeasurementBasisAxis
= us-gaap_EstimateOfFairValueFairValueDisclosureMember
[1] Carrying amount of real estate loans receivable includes loan loss reserves.
v2.4.1.9
RELATED PARTY TRANSACTIONS (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Related Party Transaction [Line Items]          
Payable $ 33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent   $ 33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent   $ 444us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
Asset management cost from discontinued operations       17kbsreiti_AssetManagementCostFromDiscontinuedOperations  
Administrative fees, amount paid 50us-gaap_PaymentForAdministrativeFees 54us-gaap_PaymentForAdministrativeFees 95us-gaap_PaymentForAdministrativeFees 100us-gaap_PaymentForAdministrativeFees  
Advisor and Dealer Manager [Member]          
Related Party Transaction [Line Items]          
Incurred 3,466us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
2,983us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
7,118us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
5,924us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
 
Payable 33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
  33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
  444us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
Advisor and Dealer Manager [Member] | Expensed [Member] | Asset Management Fees [Member]          
Related Party Transaction [Line Items]          
Incurred 2,346us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1] 2,530us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1] 4,766us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1] 5,046us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1]  
Payable 0us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1]   0us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1]   0us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_AssetManagementFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[1]
Advisor and Dealer Manager [Member] | Expensed [Member] | Reimbursement of Operating Expenses [Member]          
Related Party Transaction [Line Items]          
Incurred 52us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2] 54us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2] 99us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2] 103us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2]  
Payable 33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2]   33us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2]   45us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_ReimbursementOfOperatingExpensesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[2]
Advisor and Dealer Manager [Member] | Expensed [Member] | Dispositon Fees [Member]          
Related Party Transaction [Line Items]          
Incurred 1,068us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3] 399us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3] 2,253us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3] 775us-gaap_RelatedPartyTransactionAmountsOfTransaction
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3]  
Payable $ 0us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3]   $ 0us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3]   $ 399us-gaap_DueToRelatedPartiesCurrentAndNoncurrent
/ us-gaap_RelatedPartyTransactionAxis
= kbsreiti_DispositonFeesMember
/ kbsreiti_RelatedPartyTransactionsAccountingRecognitionAxis
= kbsreiti_ExpensedMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_AdvisorAndDealerManagerMember
[3]
[1] Amounts include asset management fees from discontinued operations totaling $17,000 for the six months ended June 30, 2014.
[2] The Advisor may seek reimbursement for certain employee costs under the Advisory Agreement. The Company reimburses 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 $50,000 and $54,000 for the three months ended June 30, 2015 and 2014, respectively, and $95,000 and $0.1 million for the six months ended June 30, 2015 and 2014, respectively. These were the only type of employee costs reimbursed under the Advisory Agreement for the three and six months ended June 30, 2015 and 2014. The Company will not reimburse for employee costs in connection with services for which the Advisor earns 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.
[3] Disposition fees with respect to real estate sold are included in the gain on sales of real estate in the accompanying consolidated statements of operations.
v2.4.1.9
RELATED PARTY TRANSACTIONS (Narrative) (Details) (USD $)
In Millions, unless otherwise specified
6 Months Ended 0 Months Ended
Jun. 30, 2015
property
May 18, 2012
Jan. 15, 2015
Related Party Transaction [Line Items]      
Disposition fee as percent     1.00%kbsreiti_DispositionFeeasPercentofBenchmarkContractSalesPrice
KBS Capital Advisors LLC [Member]      
Related Party Transaction [Line Items]      
Disposition fee as percent     1.00%kbsreiti_DispositionFeeasPercentofBenchmarkContractSalesPrice
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
Selling commissions fees paid, percent of sales price     6.00%kbsreiti_SellingCommissionsFeesPaidPercentOfSalesPrice
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
GKK Properties [Member]      
Related Party Transaction [Line Items]      
Number of real estate properties sold 160kbsreiti_NumberOfRealEstatePropertiesSold
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
   
Sales of real estate $ 213.0us-gaap_SalesOfRealEstate
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
   
GKK Properties [Member] | KBS Capital Advisors LLC [Member]      
Related Party Transaction [Line Items]      
Disposition fee as percent 1.00%kbsreiti_DispositionFeeasPercentofBenchmarkContractSalesPrice
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
  1.00%kbsreiti_DispositionFeeasPercentofBenchmarkContractSalesPrice
/ invest_InvestmentAxis
= kbsreiti_GkkPropertiesMember
/ us-gaap_RelatedPartyTransactionsByRelatedPartyAxis
= kbsreiti_KbsCapitalAdvisorsLlcMember
KBS Strategic Opportunity REIT, Inc. [Member]      
Related Party Transaction [Line Items]      
Investment in joint venture   $ 8.0us-gaap_PaymentsToAcquireInterestInJointVenture
/ dei_LegalEntityAxis
= kbsreiti_KbsStrategicOpportunityReitIncMember
 
v2.4.1.9
SUPPLEMENTAL CASH FLOW AND SIGNIFICANT NONCASH TRANSACTION DISCLOSURES (Details) (USD $)
In Thousands, unless otherwise specified
6 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Supplemental Disclosure of Cash Flow Information:    
Interest paid $ 13,671us-gaap_InterestPaid $ 23,313us-gaap_InterestPaid
Supplemental Disclosure of Significant Noncash Transactions:    
Mortgage loans extinguished in connection with foreclosures and deed in lieu of foreclosure 0kbsreiti_MortgageLoanSatisfiedInConnectionWithDeedInLieuOfForeclosure 6,134kbsreiti_MortgageLoanSatisfiedInConnectionWithDeedInLieuOfForeclosure
Increase in lease incentives payable $ 423kbsreiti_NoncashIncreaseInLeaseIncentivePayable $ 1,925kbsreiti_NoncashIncreaseInLeaseIncentivePayable
v2.4.1.9
SEGMENT INFORMATION (Schedule of Segment Reporting Information, by Segment) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended
Jun. 30, 2015
States
Jun. 30, 2014
Jun. 30, 2015
segments
States
Jun. 30, 2014
Dec. 31, 2014
Dec. 31, 2013
Segment Reporting Information [Line Items]            
Number of reportable segments     3us-gaap_NumberOfReportableSegments      
Number of states in which entity operates 31us-gaap_NumberOfStatesInWhichEntityOperates   31us-gaap_NumberOfStatesInWhichEntityOperates      
Revenues $ 44,966us-gaap_Revenues $ 54,461us-gaap_Revenues $ 94,544us-gaap_Revenues $ 108,468us-gaap_Revenues    
Interest expense 8,084us-gaap_InterestExpense 13,036us-gaap_InterestExpense 16,816us-gaap_InterestExpense 26,581us-gaap_InterestExpense    
Total net operating income 13,174us-gaap_OperatingIncomeLoss [1] 13,236us-gaap_OperatingIncomeLoss [1] 25,249us-gaap_OperatingIncomeLoss [1] 24,859us-gaap_OperatingIncomeLoss [1]    
Assets 1,250,415us-gaap_Assets   1,250,415us-gaap_Assets   1,376,167us-gaap_Assets  
Real estate held for sale 0us-gaap_RealEstateHeldforsale   0us-gaap_RealEstateHeldforsale   148,354us-gaap_RealEstateHeldforsale  
Foreclosed real estate held for sale 0kbsreiti_ForeclosedRealEstateHeldForSale   0kbsreiti_ForeclosedRealEstateHeldForSale   12,045kbsreiti_ForeclosedRealEstateHeldForSale  
Liabilities 621,783us-gaap_Liabilities   621,783us-gaap_Liabilities   763,394us-gaap_Liabilities  
Liabilities related to real estate held for sale 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale   0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale   3,087kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale  
Cash and cash equivalents 133,609us-gaap_CashAndCashEquivalentsAtCarryingValue 92,908us-gaap_CashAndCashEquivalentsAtCarryingValue 133,609us-gaap_CashAndCashEquivalentsAtCarryingValue 92,908us-gaap_CashAndCashEquivalentsAtCarryingValue 58,675us-gaap_CashAndCashEquivalentsAtCarryingValue 211,391us-gaap_CashAndCashEquivalentsAtCarryingValue
Corporate-Level [Member]            
Segment Reporting Information [Line Items]            
Assets 100,448us-gaap_Assets
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[2]   100,448us-gaap_Assets
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[2]   34,791us-gaap_Assets
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[2]  
Liabilities 932us-gaap_Liabilities
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[3]   932us-gaap_Liabilities
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[3]   5,638us-gaap_Liabilities
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
[3]  
Cash and cash equivalents 100,200us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
  100,200us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
  34,200us-gaap_CashAndCashEquivalentsAtCarryingValue
/ us-gaap_ConsolidationItemsAxis
= us-gaap_CorporateNonSegmentMember
 
Real Estate Segment [Member]            
Segment Reporting Information [Line Items]            
Revenues 16,488us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 18,231us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 34,329us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 37,151us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1]    
Interest expense 2,036us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 2,321us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 4,244us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 5,287us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1]    
Total net operating income 6,660us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 8,381us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 13,055us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1] 15,945us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
[1]    
Assets 548,572us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
  548,572us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
  542,512us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
 
Liabilities 243,804us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
  243,804us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
  240,965us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateSegmentMember
 
Real Estate-Related Segment [Member]            
Segment Reporting Information [Line Items]            
Revenues 741us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
815us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
1,467us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
1,615us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
   
Interest expense 0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
0us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
   
Total net operating income 741us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
679us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
1,466us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
1,479us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
   
Assets 29,488us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
  29,488us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
  29,096us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
 
Liabilities 2us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
  2us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
  0us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_RealEstateRelatedSegmentMember
 
GKK Properties Segment [Member]            
Segment Reporting Information [Line Items]            
Number of states in which entity operates 30us-gaap_NumberOfStatesInWhichEntityOperates
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
  30us-gaap_NumberOfStatesInWhichEntityOperates
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
     
Revenues 27,737us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 35,415us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 58,748us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 69,702us-gaap_Revenues
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1]    
Interest expense 6,048us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 10,715us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 12,572us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 21,294us-gaap_InterestExpense
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1]    
Total net operating income 5,773us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 4,176us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 10,728us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1] 7,435us-gaap_OperatingIncomeLoss
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
[1]    
Assets 571,907us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
  571,907us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
  598,907us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
 
Liabilities 377,045us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
  377,045us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
  433,735us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= kbsreiti_GkkPropertiesSegmentMember
 
Operating Segments [Member]            
Segment Reporting Information [Line Items]            
Assets 1,149,967us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  1,149,967us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  1,170,515us-gaap_Assets
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
 
Real estate held for sale 0us-gaap_RealEstateHeldforsale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  0us-gaap_RealEstateHeldforsale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  158,816us-gaap_RealEstateHeldforsale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
 
Liabilities 620,851us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  620,851us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  674,700us-gaap_Liabilities
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
 
Liabilities related to real estate held for sale $ 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  $ 0kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
  $ 83,056kbsreiti_LiabilitiesRelatedToRealEstateHeldForSale
/ us-gaap_StatementBusinessSegmentsAxis
= us-gaap_OperatingSegmentsMember
 
[1] Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
[2] Total corporate-level assets consisted primarily of cash and cash equivalents of approximately $100.2 million and $34.2 million as of June 30, 2015 and December 31, 2014, respectively.
[3] As of June 30, 2015, corporate-level liabilities consisted primarily of accounts payable and accrued liabilities for general and administrative expenses. As of December 31, 2014, corporate-level liabilities consisted primarily of distributions payable.
v2.4.1.9
SEGMENT INFORMATION (Reconciliation of Net Income (Loss) to Net Operating Income (Loss)) (Details) (USD $)
In Thousands, unless otherwise specified
3 Months Ended 6 Months Ended 12 Months Ended
Jun. 30, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Dec. 31, 2014
Segment Reporting [Abstract]          
Net income (loss) $ 19,751us-gaap_ProfitLoss $ (7,652)us-gaap_ProfitLoss $ 28,340us-gaap_ProfitLoss $ (12,168)us-gaap_ProfitLoss $ (21,266)us-gaap_ProfitLoss
Gain on sales of real estate (35,093)us-gaap_GainsLossesOnSalesOfInvestmentRealEstate (2,041)us-gaap_GainsLossesOnSalesOfInvestmentRealEstate (49,059)us-gaap_GainsLossesOnSalesOfInvestmentRealEstate (2,041)us-gaap_GainsLossesOnSalesOfInvestmentRealEstate  
Gain on sales of real estate securities 0us-gaap_MarketableSecuritiesGainLoss (662)us-gaap_MarketableSecuritiesGainLoss 0us-gaap_MarketableSecuritiesGainLoss (4,410)us-gaap_MarketableSecuritiesGainLoss  
Loss (gain) from extinguishment of debt 6,385us-gaap_GainsLossesOnExtinguishmentOfDebt (3,297)us-gaap_GainsLossesOnExtinguishmentOfDebt 6,376us-gaap_GainsLossesOnExtinguishmentOfDebt (5,112)us-gaap_GainsLossesOnExtinguishmentOfDebt  
Gain on sales of foreclosed real estate held for sale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale (2,509)kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale 0kbsreiti_GainLossOnSaleOfForeclosedRealEstateHeldForSale  
Other income and interest income (474)kbsreiti_InvestmentIncomeInterestAndOtherNonoperatingIncomeExpense (192)kbsreiti_InvestmentIncomeInterestAndOtherNonoperatingIncomeExpense (590)kbsreiti_InvestmentIncomeInterestAndOtherNonoperatingIncomeExpense (662)kbsreiti_InvestmentIncomeInterestAndOtherNonoperatingIncomeExpense  
Asset management fees to affiliate 2,346us-gaap_AssetManagementCosts 2,530us-gaap_AssetManagementCosts 4,766us-gaap_AssetManagementCosts 5,029us-gaap_AssetManagementCosts  
General and administrative expenses 6,047us-gaap_GeneralAndAdministrativeExpense 3,685us-gaap_GeneralAndAdministrativeExpense 8,277us-gaap_GeneralAndAdministrativeExpense 7,329us-gaap_GeneralAndAdministrativeExpense  
Depreciation and amortization 14,205us-gaap_DepreciationDepletionAndAmortization 17,961us-gaap_DepreciationDepletionAndAmortization 29,810us-gaap_DepreciationDepletionAndAmortization 35,884us-gaap_DepreciationDepletionAndAmortization  
Impairment charge on real estate held for investment 0us-gaap_ImpairmentOfRealEstate 939us-gaap_ImpairmentOfRealEstate 0us-gaap_ImpairmentOfRealEstate 2,196us-gaap_ImpairmentOfRealEstate  
Provision for loan losses 0us-gaap_ProvisionForLoanLeaseAndOtherLosses 1,973us-gaap_ProvisionForLoanLeaseAndOtherLosses 0us-gaap_ProvisionForLoanLeaseAndOtherLosses 1,973us-gaap_ProvisionForLoanLeaseAndOtherLosses  
Total loss (income) from discontinued operations 7us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (8)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (162)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax (3,159)us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax  
NOI $ 13,174us-gaap_OperatingIncomeLoss [1] $ 13,236us-gaap_OperatingIncomeLoss [1] $ 25,249us-gaap_OperatingIncomeLoss [1] $ 24,859us-gaap_OperatingIncomeLoss [1]  
[1] Amounts include certain properties in continuing operations that were sold as of June 30, 2015. See Note 6, “Real Estate Held for Sale and Discontinued Operations” for more information.
v2.4.1.9
COMMITMENTS AND CONTINGENCIES (Details) (USD $)
In Thousands, unless otherwise specified
Jun. 30, 2015
Commitments and Contingencies Disclosure [Abstract]  
July 1, 2015 through December 31, 2015 $ 8,460us-gaap_OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
2016 16,455us-gaap_OperatingLeasesFutureMinimumPaymentsDueInTwoYears
2017 12,425us-gaap_OperatingLeasesFutureMinimumPaymentsDueInThreeYears
2018 2,413us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFourYears
2019 1,766us-gaap_OperatingLeasesFutureMinimumPaymentsDueInFiveYears
Thereafter 31,469us-gaap_OperatingLeasesFutureMinimumPaymentsDueThereafter
Total future minimum lease payments $ 72,988us-gaap_OperatingLeasesFutureMinimumPaymentsDue
v2.4.1.9
SUBSEQUENT EVENTS (Details) (USD $)
0 Months Ended 3 Months Ended 6 Months Ended 0 Months Ended
May 13, 2015
Mar. 06, 2015
Jun. 30, 2014
Jun. 30, 2015
Jun. 30, 2014
Aug. 11, 2015
Subsequent Event [Line Items]            
Distributions declared per common share $ 0.025us-gaap_CommonStockDividendsPerShareDeclared $ 0.025us-gaap_CommonStockDividendsPerShareDeclared $ 0us-gaap_CommonStockDividendsPerShareDeclared $ 0.05us-gaap_CommonStockDividendsPerShareDeclared $ 0us-gaap_CommonStockDividendsPerShareDeclared  
Subsequent Event [Member]            
Subsequent Event [Line Items]            
Distributions declared per common share           $ 0.025us-gaap_CommonStockDividendsPerShareDeclared
/ us-gaap_SubsequentEventTypeAxis
= us-gaap_SubsequentEventMember