ACQUISITIONS AND DISPOSITIONS (Tables)

3 Months Ended

Mar. 31, 2017

Business Combinations [Abstract]

Disposition of Real Estate Detail

The following is the detail of the carrying amount of assets and liabilities at the time of the sale of 211 Main Street in March 2017:

	(in thousands)
Assets
Investments in real estate, net	$	93,747
Deferred rent receivable and charges, net	10,822
Other intangible assets, net	32
Total assets	104,601
Liabilities
Debt, net (1)	25,996
Intangible liabilities, net	1,731
Total liabilities	27,727

_______________________________________________________________________________

(1) Net of $665,000 of premium on assumed mortgage.

Property	Asset Type	Date of Sale	Square Feet	Sales Price		Gain on Sale
				(in thousands)
211 Main Street, San Francisco, CA	Office	March 28, 2017	417,266	$	292,882	$	187,734

Property	Asset Type	Date of Sale	Rooms	Sales Price		Gain on Sale
				(in thousands)
Courtyard Oakland, Oakland, CA	Hotel	February 2, 2016	162	$	43,800	$	24,739

The following is the detail of income from operations of assets held for sale classified as discontinued operations on the consolidated statements of operations for the three months ended March 31, 2016:

	Three Months Ended March 31, 2016
	(in thousands)
Revenue—Interest and other income	$	1,115
Expenses:
Interest expense	288
Fees to related party	132
General and administrative	5
Total expenses	425
Income from operations of assets held for sale	$	690