FAIR VALUE DISCLOSURES (Tables)

6 Months Ended

Jun. 30, 2020

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 June 30, 2020 and December 31, 2019, which carrying amounts do not approximate the fair values (in thousands):

	June 30, 2020						December 31, 2019
	Face Value		Carrying Amount		Fair Value		Face Value		Carrying Amount		Fair Value
Financial liabilities (Level 3):
Notes and bond payable	$	480,572	$	479,487	$	481,617	$	453,334	$	451,743	$	455,849
Financial liabilities (Level 1):
Pacific Oak SOR (BVI) Holdings, Ltd. Series A Debentures	$	168,039	$	169,369	$	142,133	$	224,746	$	221,920	$	229,877
Pacific Oak SOR (BVI) Holdings, Ltd. Series B Debentures	$	73,335	$	67,847	$	55,994	$	—	$	—	$	—

Fair Value, Assets Measured on Recurring Basis

As of June 30, 2020, 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	$	76,664	$	76,664	$	—	$	—
Asset derivative - interest rate caps	$	39	$	—	$	39	$	—
Asset derivative - foreign currency collars	$	11,977	$	—	$	11,977	$	—

As of December 31, 2019, the Company measured the following assets and liabilities 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)	$	—