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NOTES AND BOND PAYABLE (Tables)
 3 Months Ended
Mar. 31, 2020
Notes and Bonds Payable [Abstract]  
Schedule of Long-term Debt Instruments
As of March 31, 2020 and December 31, 2019, the Company’s notes and bonds payable, including notes payable related to real estate held for sale, consisted of the following (dollars in thousands):
 Book Value as of
March 31, 2020		Book Value as of
December 31, 2019
Contractual Interest Rate as of
March 31, 2020 (1)
Effective Interest Rate at
March 31, 2020 (1)
Payment Type (3)
Maturity Date (2)
Richardson Portfolio Mortgage Loan $36,000  $36,000  
One-Month LIBOR + 2.50%
3.49%
Interest Only (3)
11/01/2021
Park Centre Mortgage Loan
21,970  21,970  
One-Month LIBOR + 1.75%
2.74%Interest Only06/27/2022
1180 Raymond Mortgage Loan 30,150  30,250  
One-Month LIBOR + 2.25%
3.24%Principal & Interest06/01/2020
1180 Raymond Bond Payable 6,030  6,080  6.50%6.50%Principal & Interest09/01/2036
Pacific Oak SOR (BVI) Holdings, Ltd. Series A
Debentures (4)
164,065  224,746  4.25%4.25%
(4)
03/01/2023
Pacific Oak SOR (BVI) Holdings, Ltd. Series B
Debentures (4)
71,601  —  3.93%3.93%
(4)
01/31/2026
Crown Pointe Mortgage Loan53,612  51,171  
One-Month LIBOR + 2.60%
3.59%Principal & Interest02/13/2021
City Tower Mortgage Loan94,167  89,000  
One-Month LIBOR + 1.55%
2.54%Interest Only03/05/2021
The Marq Mortgage Loan58,331  53,408  
One-Month LIBOR + 1.55%
2.54%Interest Only06/06/2021
Eight & Nine Corporate Centre Mortgage Loan47,066  43,880  
One-Month LIBOR + 1.60%
2.59%Interest Only06/08/2021
Georgia 400 Center Mortgage Loan59,690  59,690  
One-Month LIBOR + 1.55%
2.54%Interest Only05/22/2023
PORT Mortgage Loan 151,362  51,362  4.74%4.74%Interest Only10/01/2025
PORT Mortgage Loan 210,523  10,523  4.72%4.72%Interest Only03/01/2026
Total Notes and Bonds Payable principal outstanding704,567  678,080  
Premium on Notes and Bonds Payable (5)
757  783  
Deferred financing costs, net(6,636) (5,200) 
Total Notes and Bonds Payable, net$698,688  $673,663  
_____________________
(1) Contractual interest rate represents the interest rate in effect under the loan as of March 31, 2020. Effective interest rate is calculated as the actual interest rate in effect as of March 31, 2020 (consisting of the contractual interest rate and contractual floor rates), using interest rate indices at March 31, 2020, where applicable.
(2) Represents the initial maturity date or the maturity date as extended as of March 31, 2020; subject to certain conditions, the maturity dates of certain loans may be extended beyond the date shown.
(3) Represents the payment type required under the loan as of March 31, 2020. Certain future monthly payments due under this loan also include amortizing principal payments. For more information of the Company’s contractual obligations under its notes and bonds payable, see five-year maturity table below.
(4) See “ – Israeli Bond Financing” below.
(5) Represents the unamortized premium on notes and bonds payable due to the above-market interest rates when the debt was assumed. The premium is amortized over the remaining life of the notes and bonds payable.
Schedule of Maturities of Long-term Debt
The following is a schedule of maturities, including principal amortization payments, for all notes and bonds payable outstanding as of March 31, 2020 (in thousands):
April 1, 2020 through December 31, 2020$31,772  
2021342,622  
202276,898  
2023114,634  
202424,137  
Thereafter114,504  
$704,567