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Share-Based Compensation (Tables)
 12 Months Ended
Dec. 31, 2015
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]  
Schedule of Share-based Compensation, Restricted Stock and Restricted Stock Units Activity
The following table displays restricted share award activity during the years ended December 31, 2015, 2014 and 2013:
 
Number of Restricted Shares
 
Weighted-Average Issue Price
Unvested, December 31, 2012
19,800

 
$
9.55

Granted
9,000

 
9.00

Vested
(4,800
)
 
9.63

Unvested, December 31, 2013
24,000

 
9.33

Granted
218,845

 
10.74

Vested
(150,231
)
 
10.52

Forfeited
(3,115
)
 
10.70

Unvested, December 31, 2014
89,499

 
10.73

Granted
340,527

 
10.54

Vested
(33,651
)
 
10.56

Forfeited
(79,805
)
 
10.36

Unvested, December 31, 2015
316,570

 
$
10.59
Schedule of Share-based Compensation Arrangement by Share-based Payment Award, Performance-Based Units, Performance Schedule
The Advisor is eligible to earn a number of LTIP units with a value equal to a portion of the OPP Cap upon the first, second and third anniversaries of the Effective Date based on the Company’s achievement of certain levels of total return to its stockholders (“Total Return”), including both share price appreciation and common stock dividends, as measured against a peer group of companies, as set forth below, for the three-year performance period commencing on the Effective Date (the “Three-year Period”); each 12-month period during the Three-Year Period (the “One-Year Periods”); and the initial 24-month period of the Three-Year Period (the “Two-Year Period”), as follows:
 
 
 
 
Performance Period
 
Annual Period
 
Interim Period
Absolute Component: 4% of any excess Total Return if total stockholder return attained above an absolute hurdle measured from the beginning of such period:
 
21%
 
7%
 
14%
Relative Component: 4% of any excess Total Return attained above the Total Return for the performance period of the Peer Group*, subject to a ratable sliding scale factor as follows based on achievement of cumulative Total Return measured from the beginning of such period:
 
 
 
 
 
 
 
•
100% will be earned if total stockholder return achieved is at least:
 
18%
 
6%
 
12%
 
•
50% will be earned if total stockholder return achieved is:
 
0%
 
0%
 
0%
 
•
0% will be earned if total stockholder return achieved is less than:
 
0%
 
0%
 
0%
 
•
a percentage from 50% to 100% calculated by linear interpolation will be earned if the cumulative Total Return achieved is between:
 
0% - 18%
 
0% - 6%
 
0% - 12%
______________________ 
*The “Peer Group” is comprised of the companies in the SNL US REIT Office Index.
Schedule of Fair Value, Liabilities Measured on Recurring Basis
The following table presents information about the Company's assets and liabilities (including derivatives that are presented net) measured at fair value on a recurring basis as of December 31, 2015 and 2014, aggregated by the level in the fair value hierarchy within which those instruments fall:
(In thousands)
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
Total
December 31, 2015
 
 
 
 
 
 
 
 
Derivatives, net
 
$
—

 
$
(835
)
 
$
—

 
$
(835
)
December 31, 2014
 
 
 
 
 
 
 
 
Derivatives, net
 
$
—

 
$
(1,071
)
 
$
—

 
$
(1,071
)
Investment securities
 
$
4,659

 
$
—

 
$
—

 
$
4,659

The following table presents information about the Company's OPP, which is measured at fair value on a recurring basis as of December 31, 2015 and 2014, aggregated by the level in the fair value hierarchy within which the instrument falls:
(In thousands)
 
Quoted Prices in Active Markets
Level 1
 
Significant Other Observable Inputs
Level 2
 
Significant Unobservable Inputs
Level 3
 
Total
December 31, 2015
 
 
 
 
 
 
 
 
OPP
 
$
—

 
$
—

 
$
43,500

 
$
43,500

December 31, 2014
 
 
 
 
 
 
 
 
OPP
 
$
—

 
$
—

 
$
29,100

 
$
29,100
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation
The following is a reconciliation of the beginning and ending balance for the changes in instruments with Level 3 inputs in the fair value hierarchy for the year ended December 31, 2015:
(In thousands)
 
OPP
Beginning balance as of December 31, 2014
 
$
29,100

   Fair value at issuance
 
—

   Fair value adjustment
 
14,400

Ending balance as of December 31, 2015
 
$
43,500
Fair Value Measurements, Recurring and Nonrecurring, Valuation Techniques
The following table provides quantitative information about significant Level 3 input used:
Financial Instrument
 
Fair Value
 
Principal Valuation Technique
 
Unobservable Inputs
 
Input Value
 
 
(In thousands)
 
 
 
 
 
 
December 31, 2015
 
 
 
 
 
 
 
 
OPP
 
$
43,500

 
Monte Carlo Simulation
 
Expected volatility
 
27.0
%
December 31, 2014
 
 
 
 
 
 
 
 
OPP
 
$
29,100

 
Monte Carlo Simulation
 
Expected volatility
 
27.0
%