REAL ESTATE EQUITY SECURITIES (Tables)

9 Months Ended

Sep. 30, 2018

Investments, Debt and Equity Securities [Abstract]

Schedule of Real Estate Equity Securities

The following table sets forth the number of shares owned by the Company and the related carrying value of the shares as of September 30, 2018 and December 31, 2017 (dollars in thousands):

	September 30, 2018			December 31, 2017
Real Estate Equity Security	Number of Shares Owned	Total Carrying Value		Number of Shares Owned	Total Carrying Value
Whitestone REIT	3,722,019	$	51,662	3,603,189	$	51,922
Keppel-KBS US REIT	43,999,500	34,474		43,999,500	38,141
Franklin Street Properties Corp.	1,576,809	12,599		—	—
	49,298,328	$	98,735	47,602,689	$	90,063

Schedule of Activity of Real Estate Securities

The following summarizes the activity related to real estate equity securities for the nine months ended September 30, 2018 (in thousands): 

	Amortized Cost Basis			Unrealized Gain (Loss) (1)			Total
Real estate equity securities - December 31, 2017	$	64,917		$	25,146		$	90,063
Acquisition of real estate equity securities	15,676			—			15,676
Acquisition fee to affiliate and purchase commission	175			—			175
Disposition of real estate equity securities	(554		)	(79		)	(633		)
Loss on real estate equity securities	—			(6,546		)	(6,546		)
Real estate equity securities - September 30, 2018	$	80,214		$	18,521		$	98,735

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⁽¹⁾ As of December 31, 2017, unrealized gain (loss) due to the change in market value of real estate equity securities was recorded to accumulated other comprehensive income. Effective January 1, 2018, upon the adoption of ASU No. 2016-01, unrealized gain (losses) on real estate equity securities are recorded in earnings on the accompanying consolidated statement of operations.

Gain (Loss) on Investments

The following summarizes the portion of gain and loss for the period related to real estate equity securities held during the three and nine months ended September 30, 2018 (in thousands): 

	For the Three Months Ended September 30, 2018		For the Nine Months Ended September 30, 2018
Net gain (loss) recognized during the period on real estate equity securities	$	741	$	(6,546	)
Less: Net gain (loss) recognized during the period on real estate equity securities sold during the period	57		(32		)
Unrealized gain (loss) recognized during the reporting period on real estate equity securities still held at September 30, 2018	$	684	$	(6,514	)