FAIR VALUE DISCLOSURES (Tables)

12 Months Ended

Dec. 31, 2019

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 financial instruments as of December 31, 2019 and 2018, which carrying amounts do not approximate the fair values (in thousands):

	December 31, 2019						December 31, 2018
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial assets:
Real estate debt securities (1)	$	—	$	—	$	—	$	13,000	$	10,859	$	10,859
Financial liabilities:
Notes and bond payable	$	453,334	$	451,743	$	455,849	$	403,802	$	400,470	$	407,449
Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures	$	224,746	$	221,920	$	229,877	$	259,516	$	255,002	$	255,814

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⁽¹⁾ Carrying amount of real estate debt securities includes other-than-temporary impairment.

Fair Value, Assets Measured on Recurring Basis

As of December 31, 2019, the Company measured the following assets at fair value (in thousands):

			Fair Value Measurements Using
	Total		Quoted Prices in Active Markets  for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring Basis:
Real estate equity securities	$	81,439	$	81,439	$	—	$	—
Asset derivative - interest rate caps	$	12	$	—	$	12	$	—
Liability derivative - foreign currency collar	$	(179)	$	—	$	(179)	$	—

As of December 31, 2018, the Company measured the following assets at fair value (in thousands):

			Fair Value Measurements Using
	Total		Quoted Prices in Active Markets  for Identical Assets (Level 1)		Significant Other Observable Inputs (Level 2)		Significant Unobservable Inputs (Level 3)
Recurring Basis:
Real estate equity securities	$	73,876	$	73,876	$	—	$	—
Asset derivative - interest rate caps	$	34	$	—	$	34	$	—
Liability derivative - foreign currency collar	$	(4,393)	$	—	$	(4,393)	$	—