Monogram Residential Trust (BHORL) Inactive 10-K12 Mar 142013 FY Annual reportFinancial data

Company Profile

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2013	Feb. 28, 2014	Jun. 30, 2013
Document and Entity Information	'	'	'
Entity Registrant Name	'BEHRINGER HARVARD MULTIFAMILY REIT I INC	'	'
Entity Central Index Key	'0001384710	'	'
Document Type	'10-K	'	'
Document Period End Date	31-Dec-13	'	'
Amendment Flag	'false	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Filer Category	'Non-accelerated Filer	'	'
Entity Common Stock, Shares Outstanding	'	168,870,089	'
Document Fiscal Year Focus	'2013	'	'
Document Fiscal Period Focus	'FY	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Public Float	'	'	$169.20

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Real estate	'	'
Land	$337,295	$327,946
Buildings and improvements	1,833,452	1,849,483
Total real estate, gross	2,170,747	2,177,429
Less accumulated depreciation	-195,048	-123,360
Net operating real estate	1,975,699	2,054,069
Construction in progress, including land ($279,554 and $46,111 related to VIEs as of December 31, 2013 and 2012, respectively)	479,214	151,605
Total real estate, net	2,454,913	2,205,674
Cash and cash equivalents	319,368	450,644
Intangibles, net	25,753	19,063
Other assets, net	98,567	69,312
Total assets	2,898,601	2,744,693
Liabilities	'	'
Mortgages and notes payable ($32,168 related to VIEs as of December 31, 2013)	1,029,111	979,558
Credit facility payable	10,000	10,000
Construction costs payable ($27,054 and $1,265 related to VIEs as of December 31, 2013 and 2012, respectively)	44,684	9,751
Accounts payable and other liabilities	30,972	22,461
Deferred revenues, primarily lease revenues, net	18,382	17,497
Distributions payable	5,023	4,980
Tenant security deposits	4,122	4,059
Total liabilities	1,142,294	1,048,306
Commitments and contingencies	'	'
Redeemable noncontrolling interests ($13,007 and $3,895 related to VIEs as of December 31, 2013 and 2012, respectively)	21,984	8,585
Equity	'	'
Preferred stock, $0.0001 par value per share; 124,999,000 shares authorized: 7.0% Series A non-participating, voting, cumulative, convertible preferred stock, liquidation preference $10 per share, 10,000 shares issued and outstanding as of December 31, 2013, none outstanding as of December 31, 2012	0	0
Non-participating, non-voting convertible stock, $0.0001 par value per share; 1,000 shares authorized, none and 1,000 shares issued and outstanding as of December 31, 2013 and 2012, respectively	0	0
Common stock, $0.0001 par value per share; 875,000,000 shares authorized, 168,320,207 and 167,542,108 shares issued and outstanding as of December 31, 2013 and 2012, respectively	17	17
Additional paid-in capital	1,508,655	1,523,646
Cumulative distributions and net income (loss)	-230,554	-201,211
Total equity attributable to common stockholders	1,278,118	1,322,452
Non-redeemable noncontrolling interests	456,205	365,350
Total equity	1,734,323	1,687,802
Total liabilities and equity	$2,898,601	$2,744,693

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Construction in progress	$479,214	$151,605
Mortgages and notes payable	1,029,111	979,558
Construction costs payable	44,684	9,751
Redeemable noncontrolling interests	21,984	8,585
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	124,999,000	124,999,000
Preferred stock, shares outstanding	10,000	0
Preferred Stock, Liquidation Preference Per Share	$10	'
Preferred Stock, Dividend Rate, Percentage	7.00%	'
Non-participating, non-voting convertible stock, par value (in dollars per share)	$0.00	$0.00
Non-participating, non-voting convertible stock, shares authorized	1,000	1,000
Non-participating, non-voting convertible stock, shares issued	0	1,000
Non-participating, non-voting convertible stock, shares outstanding	0	1,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	875,000,000	875,000,000
Common stock, shares issued	168,320,207	167,542,108
Common stock, shares outstanding	168,320,207	167,542,108
VIEs	'	'
Construction in progress	279,554	46,111
Mortgages and notes payable	32,168	0
Construction costs payable	27,054	1,265
Redeemable noncontrolling interests	$13,007	$3,895

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income Statement [Abstract]	'	'	'
Rental revenues	$190,624	$171,762	$63,318
Expenses	'	'	'
Property operating expenses	51,027	46,426	19,020
Real estate taxes	24,740	21,579	8,702
Asset management fees	7,673	6,622	6,306
General and administrative expenses	11,373	10,762	4,567
Acquisition expenses	3,677	2,508	6,163
Transition expenses	9,003	0	0
Investment and development expenses	553	0	0
Interest expense	23,844	31,376	11,000
Depreciation and amortization	86,110	99,716	36,865
Total expenses	218,000	218,989	92,623
Interest income	8,507	7,227	3,360
Gain on revaluation of equity on a business combination	0	1,723	121,938
Gain on sale of joint venture interests	0	0	5,724
Loss on early extinguishment of debt	0	-502	0
Equity in income (loss) of investments in unconsolidated real estate joint ventures	1,311	-1,247	-6,842
Other income (expense)	92	-819	0
Income (loss) from continuing operations	-17,466	-40,845	94,875
Income (loss) from discontinued operations:	'	'	'
Loss from discontinued operations	-724	-2,660	-387
Gain on sale of real estate	50,779	13,312	0
Net income (loss)	32,589	-30,193	94,488
Net (income) loss attributable to noncontrolling interests:	'	'	'
Redeemable noncontrolling interests in continuing operations	0	1,825	274
Non-redeemable noncontrolling interests in continuing operations	3,938	14,119	3,712
Non-redeemable noncontrolling interests in discontinued operations	-6,832	1,735	158
Net income (loss) available to the Company	29,695	-12,514	98,632
Dividends to preferred stockholders	-3	0	0
Net income (loss) attributable to common stockholders	29,692	-12,514	98,632
Weighted average number of common shares outstanding	168,650	166,178	138,111
Basic and diluted earnings (loss) per common share:	'	'	'
Continuing operations (in dollars per share)	($0.08)	($0.15)	$0.71
Discontinued operations (in dollars per share)	$0.26	$0.07	$0
Basic and diluted earnings (loss) per common share	$0.18	($0.08)	$0.71
Amounts attributable to common stockholders:	'	'	'
Continuing operations	-13,531	-24,901	98,861
Discontinued operations	43,223	12,387	-229
Net income (loss) attributable to common stockholders	$29,692	($12,514)	$98,632

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (USD $)		Total		Preferred Stock	Convertible Stock	Common Stock	Additional Paid-in Capital	Noncontrolling Interests	Cumulative Distributions and Net Income (Loss) Available to the Company
In Thousands, unless otherwise specified		USD ($)		Preferred Stock	Convertible Stock	USD ($)	USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2010		$770,769		'	'	$10	$896,500	'	($125,741)
Balance (in shares) at Dec. 31, 2010		'		'	1	102,860	'	'	'
Increase (Decrease) in Stockholders' Equity		'		'	'	'	'	'	'
Net income (loss), including temporary equity		94,762		'	'	'	'	-3,870	98,632
Net income (loss)		94,488		'	'	'	'	'	'
Sale of common stock, net		539,561		'	'	7	539,554	'	'
Issuance of stock (in shares)		'		'	'	59,550	'	'	'
Redemptions of common stock		-17,780		'	'	'	-17,780	'	'
Redemptions of common stock (in shares)		'		'	'	-1,969	'	'	'
Acquisitions of noncontrolling interests		360,405		'	'	'	'	360,405	'
Sale of noncontrolling interests		88,559		'	'	'	39,596	48,963	'
Distributions:		'		'	'	'	'	'	'
Declared on common stock - regular		-82,981	[1]	'	'	'	'	'	-82,981
Declared on common stock - special	[1]	0		'	'	'	'	'	'
Noncontrolling interests		7,573		'	'	'	'	7,573	'
Stock issued pursuant to distribution reinvestment plan, net		44,140		'	'	'	44,140	'	'
Stock issued pursuant to distribution reinvestment plan, net (in shares)		'		'	'	4,646	'	'	'
Balance at Dec. 31, 2011		1,805,008		'	'	17	1,502,010	413,071	-110,090
Balance (in shares) at Dec. 31, 2011		'		'	1	165,087	'	'	'
Increase (Decrease) in Stockholders' Equity		'		'	'	'	'	'	'
Net income (loss), including temporary equity		-28,368		'	'	'	'	-15,854	-12,514
Net income (loss)		-30,193		'	'	'	'	'	'
Redemptions of common stock		-15,522		'	'	'	-15,522	'	'
Redemptions of common stock (in shares)		'		'	'	-1,734	'	'	'
Acquisition of a controlling interest		1,018		'	'	'	'	1,018	'
Acquisitions of noncontrolling interests		-13,503		'	'	'	-3,746	-9,757	'
Sale of noncontrolling interests		0		'	'	'	1,178	-1,178	'
Contributions by and adjustments of noncontrolling interests		7,783		'	'	'	'	7,783	'
Distributions:		'		'	'	'	'	'	'
Declared on common stock - regular		-68,638	[1]	'	'	'	'	'	-68,638
Declared on common stock - special		-9,969	[1]	'	'	'	'	'	-9,969
Noncontrolling interests		-29,733		'	'	'	'	-29,733	'
Stock issued pursuant to distribution reinvestment plan, net		39,726		'	'	'	39,726	'	'
Stock issued pursuant to distribution reinvestment plan, net (in shares)		'		'	'	4,189	'	'	'
Balance at Dec. 31, 2012		1,687,802		'	'	17	1,523,646	365,350	-201,211
Balance (in shares) at Dec. 31, 2012		'		'	1	167,542	'	'	'
Increase (Decrease) in Stockholders' Equity		'		'	'	'	'	'	'
Net income (loss)		32,589		'	'	'	'	2,894	29,695
Issuance of stock (in shares)		'		10	'	'	'	'	'
Redemptions of common stock		-22,936		'	'	'	-22,936	'	'
Redemptions of common stock (in shares)		'		'	'	-2,483	'	'	'
Acquisitions of noncontrolling interests		-35,972		'	'	'	-23,210	-12,762	'
Sale of noncontrolling interests		5,898		'	'	'	148	5,750	'
Contributions by and adjustments of noncontrolling interests		146,276		'	'	'	'	146,276	'
Cancellation of Convertible Stock (In Shares)		'		'	-1	'	'	'	'
Distributions:		'		'	'	'	'	'	'
Declared on common stock - regular		-59,035	[1]	'	'	'	'	'	-59,035
Declared on common stock - special	[1]	0		'	'	'	'	'	'
Noncontrolling interests		-51,303		'	'	'	'	-51,303	'
Preferred stock		-3		'	'	'	'	'	-3
Stock issued pursuant to distribution reinvestment plan, net		31,007		'	'	'	31,007	'	'
Stock issued pursuant to distribution reinvestment plan, net (in shares)		'		'	'	3,261	'	'	'
Balance at Dec. 31, 2013		$1,734,323		'	'	$17	$1,508,655	$456,205	($230,554)
Balance (in shares) at Dec. 31, 2013		'		10	0	168,320	'	'	'

[1]	Represents distributions accruing during the period on a daily basis.

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011
Cash flows from operating activities	'		'		'
Net income (loss)	$32,589		($30,193)		$94,488
Adjustments to reconcile net income (loss) to net cash provided by operating activities:	'		'		'
Gain on revaluation of equity on a business combination	0		-1,723		-121,938
Gain on sale of joint venture interests	0		0		-5,724
Gain on sale of real estate	-50,779		-13,312		0
Loss on early extinguishment of debt	0		502		0
Equity in (income) loss of investments in unconsolidated real estate joint ventures	-1,311		1,247		7,877
Distributions received from investment in unconsolidated real estate joint venture	460		170		14,576
Depreciation	85,054		83,909		28,690
Amortization of deferred financing costs and debt premium/discount	-1,618		-950		1,674
Amortization of intangibles	2,394		23,606		9,453
Amortization of deferred revenues, primarily lease revenues, net	-1,480		-1,406		-1,387
Other, net	663		1,073		0
Changes in operating assets and liabilities:	'		'		'
Accounts payable and other liabilities	10,992		2,286		5,265
Other assets	-305		-1,858		-1,323
Cash provided by operating activities	76,659		63,351		31,651
Additions to real estate:	'		'		'
Acquisitions of real estate, net of cash acquired of $1.5 million and $14.3 million for the years ended December 31, 2012 and 2011, respectively	-108,014		-67,583		-173,263
Additions to existing real estate	-6,934		-6,629		-3,766
Construction in progress, including land	-325,964		-123,863		-2,236
Proceeds from sale of real estate, net	205,336		23,902		50,556
Proceeds from sale of joint venture interests	0		0		101,041
Investments in unconsolidated real estate joint ventures	-4,810		-3,119		-32,143
Acquisition of a controlling interest, net of cash acquired of $0.6 million for the year ended December 31, 2013	-8,643		0		14,202
Acquisitions of noncontrolling interests	-49,036		-20,324		0
Sale of noncontrolling interest	7,272		0		0
Investment in short-term investments	0		-25,000		0
Proceeds from short-term investments	0		25,000		0
Advances on notes receivable	-31,078		-37,789		-22,426
Collection on note receivable	18,618		19,930		0
Return of investments in unconsolidated real estate joint ventures	0		0		56,202
Escrow deposits	-2,842		-5,025		2,137
Other, net	-544		-1,115		-7
Cash used in investing activities	-306,639		-221,615		-9,703
Cash flows from financing activities	'		'		'
Proceeds from sales of common stock	0		0		593,841
Mortgage and notes payable proceeds	128,664		233,753		269,365
Mortgage principal payments	-75,314		-202,688		-120,518
Credit facility proceeds	0		0		190,000
Credit facility payments	0		0		-244,000
Offering costs paid	0		0		-57,154
Contributions from noncontrolling interests	153,496		13,205		10,286
Distributions paid on common stock - regular	-27,983		-32,344		-35,600
Distributions paid on common stock - special	0	[1]	-9,969	[1]	0	[1]
Distributions paid to noncontrolling interests	-51,303		-29,733		-2,806
Dividends paid on preferred stock	-3		0		0
Redemptions of common stock	-22,936		-15,522		-17,780
Other, net	-5,917		-3,289		-4,693
Cash provided by (used in) financing activities	98,704		-46,587		580,941
Net change in cash and cash equivalents	-131,276		-204,851		602,889
Cash and cash equivalents at beginning of year	450,644		655,495		52,606
Cash and cash equivalents at end of year	$319,368		$450,644		$655,495

[1]	The regular distributions that accrue each month are paid in the following month. Amounts paid include both distributions paid in cash and reinvested pursuant to our DRIP.

Consolidated_Statements_of_Cas1

Consolidated Statements of Cash Flows (Parenthetical) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Statement of Cash Flows [Abstract]	'	'
Cash acquired from acquisition of real estate	$1.50	$14.30

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Organization and Business	'
	Organization and Business

	Organization

	Behringer Harvard Multifamily REIT I, Inc. (which, together with its subsidiaries as the context requires, may be referred to as the “Company,” “we,” “us,” or “our”) was organized in Maryland on August 4, 2006. We invest in, develop and operate high quality multifamily communities. These multifamily communities include conventional multifamily assets, such as mid-rise, high-rise, garden style, and age-restricted properties, typically requiring residents to be age 55 or older. Our targeted communities include existing “core” properties, which we define as properties that are already stabilized and producing rental income, as well as properties in various phases of development, redevelopment, lease up or repositioning which we intend to transition to core properties. Further, we may invest in other types of commercial real estate, real estate-related securities, and mortgage, bridge, mezzanine, land or other loans, or in entities that make investments similar to the foregoing. We completed our first investment in April 2007.

	From our inception to July 31, 2013, we had no employees, were externally managed by Behringer Harvard Multifamily Advisors I, LLC (the “Advisor”) and were supported by related party service agreements with the Advisor and its affiliates. Through July 31, 2013, we exclusively relied on the Advisor and its affiliates to provide certain services and personnel for management and day-to-day operations, including advisory services performed by the Advisor and property management services provided by Behringer Harvard Multifamily Management Services, LLC and its affiliates (“BHM Management” or the “Property Manager”).

	Effective July 31, 2013, we entered into a series of agreements with the Advisor and its affiliates in order to begin our transition to self-management (“Self-Management Transition Agreements”). On August 1, 2013, we hired five executives who were previously employees of the Advisor and its affiliates and began hiring other employees. See further discussion at Note 13, “Transition to Self-Management.”

	We invest in multifamily communities that may be wholly owned by us or held through joint venture arrangements with third-party institutional or other national or regional real estate developers/owners which we define as “Co-Investment Ventures” or “CO-JVs.” These are predominately equity investments but also include debt investments, consisting of mezzanine and land loans. If a Co-Investment Venture makes an equity or debt investment in a separate entity with additional third parties, we refer to such a separate entity as a “Property Entity” and when applicable may name the multifamily community related to the Property Entity or CO-JV.

	As of December 31, 2013, we have equity and debt investments in 55 multifamily communities, of which 32 are stabilized operating properties, two are in lease up and 21 are in various stages of pre-development and construction. Of the 55 multifamily communities, we wholly own seven multifamily communities and three debt investments for a total of 10 wholly owned investments. The remaining 45 investments are held through Co-Investment Ventures, 44 of which are consolidated and one is reported on the equity method of accounting. The one unconsolidated Co-Investment Venture holds a debt investment.

	As of December 31, 2013, we are the general partner and/or managing member for each of the separate Co-Investment Ventures. Our two largest Co-Investment Venture partners are Stichting Depositary PGGM Private Real Estate Fund, a Dutch foundation acting in its capacity as depositary of and for the account and risk of PGGM Private Real Estate Fund and its affiliates, a real estate investment vehicle for Dutch pension funds, (“PGGM” or the “PGGM Co-Investment Partner”), and Milky Way Partners, L.P. (the “MW Co-Investment Partner”), the primary partner of which is Korea Exchange Bank, as Trustee for and on behalf of National Pension Service (acting for and on behalf of the National Pension Fund of the Republic of Korea Government) (“NPS”). Our other Co-Investment Venture partners include national or regional real estate developers/owners (“Developer Partners.”) When applicable, we refer to individual investments by referencing the individual co-investment partner or the underlying multifamily community. We refer to our Co-Investment Ventures with the PGGM Co-Investment Partner as “PGGM CO-JVs,” those with the MW Co-Investment Partner as “MW CO-JVs,” and those with Developer Partners as “Developer CO-JVs.” Certain PGGM CO-JVs also include Developer Partners and are referred to as PGGM CO-JVs.

	Prior to July 31, 2013, PGGM’s interest in the PGGM CO-JVs was held through a partnership (the “Master Partnership”), in which PGGM held a 99% limited partner interest and an affiliate of the Advisor held the 1% general partner interest (the “GP Master Interest”). Our interest in the PGGM CO-JVs was generally 55% and the Master Partnership’s interest was generally 45%. On July 31, 2013, we acquired the GP Master Interest from the affiliate of the Advisor for $23.1 million (effectively increasing our ownership interest in each applicable PGGM CO-JV) and consolidated the Master Partnership. Due to PGGM’s existing 99% ownership interest in the Master Partnership and because this transaction did not have a significant effect on the amount of noncontrolling interests in such Co-Investment Ventures, PGGM’s ownership interest in each applicable Co-Investment Venture was unchanged. Accordingly, we now consider PGGM to be our co-investment partner in these Co-Investment Ventures. We now refer to these Co-Investment Ventures as “PGGM CO-JVs” and to PGGM as the “PGGM Co-Investment Partner.” In addition, on December 20, 2013, the Master Partnership was restructured to increase the maximum potential capital commitment of PGGM by $300 million (plus any amount distributed to PGGM from sales or financings of new PGGM CO-JVs) and we sold a noncontrolling interest in 13 Developer CO-JVs to PGGM for $146.4 million. See more discussion of the acquisition of the GP Master Interest and sale of the noncontrolling interest at Note 4, “Business Combinations,” Note 11, “Noncontrolling Interests,” and Note 13, “Transition to Self-Management.”

	The table below presents a summary of our Co-Investment Ventures. The effective ownership ranges are based on our share of contributed capital in the multifamily investment. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements for each respective Co-Investment Venture. Unless otherwise noted, all are reported on the consolidated basis of accounting (dollars in millions).


			December 31, 2013		December 31, 2012
	Co-Investment Structure		Number of Multifamily Communities	Our Effective	Number of Multifamily Communities	Our Effective
				Ownership		Ownership
	PGGM CO-JVs (a)		27	44% to 74%	16	51% to 74%

	MW CO-JVs		14	55%	15	55%

	Developer CO-JVs		4	90% to 100%	8	80% to 100%

	Total		45		39






	(a)	Includes one unconsolidated investment as of December 31, 2013 and 2012. Also, as of December 31, 2013 and 2012, includes Developer Partners in 16 and none multifamily communities, respectively.

	We have elected to be taxed, and currently qualify, as a real estate investment trust (“REIT”) for federal income tax purposes. As a REIT, we generally are not subject to corporate-level income taxes. To maintain our REIT status, we are required, among other requirements, to distribute annually at least 90% of our “REIT taxable income,” as defined by the Internal Revenue Code of 1986, as amended (the “Code”), to our stockholders. If we fail to qualify as a REIT in any taxable year, we would be subject to federal income tax on our taxable income at regular corporate tax rates. As of December 31, 2013, we believe we are in compliance with all applicable REIT requirements.

	Offerings of Our Common Stock

	In December 2007, we completed a private offering (the “Private Offering”), in which we sold approximately 14.2 million shares of our common stock with gross offering proceeds of approximately $127.3 million. Net proceeds, after selling commissions, dealer manager fees, and other offering costs, were approximately $114.3 million.

	On September 2, 2011, we terminated offering shares of common stock in the primary portion of our initial public offering (the “Initial Public Offering”), in which we sold 146.4 million shares of our common stock with aggregate gross primary offering proceeds of approximately $1.46 billion. Net proceeds, after selling commissions, dealer manager fees, and other offering costs, were approximately $1.30 billion. At termination of our Initial Public Offering, we reallocated 50 million unsold shares remaining from our Initial Public Offering to our distribution reinvestment plan (“DRIP”). As a result, we are offering a maximum of 100 million total shares pursuant to our DRIP at a DRIP offering price set by our board of directors. Since March 1, 2013, the DRIP offering price has been $9.53 per share, based on approximately 95% of our estimated per share value which was last established as of March 1, 2013. For the years ended December 31, 2013 and 2012, the DRIP offering price averaged $9.51 and $9.48, respectively. As of December 31, 2013, we have sold approximately 16.0 million shares under our DRIP for gross proceeds of approximately $152.1 million. There are approximately 84.0 million shares remaining to be sold under the DRIP as of December 31, 2013.

	Per the terms of our DRIP, we currently expect to offer shares under the DRIP for approximately the next four years, which would be the sixth anniversary of the termination of our Initial Public Offering although our board of directors has the discretion to extend the DRIP beyond that date, in which case we will notify participants of such extension. We may suspend or terminate the DRIP at any time by providing ten days’ prior written notice to participants, and we may amend or supplement the DRIP at any time by delivering notice to participants at least 30 days’ prior to the effective date of the amendment or supplement.

	Our common stock is not currently listed on a national securities exchange. Depending upon then-prevailing market conditions, we intend to begin to consider the process of listing or liquidation within the next two to four years, which is unchanged from the four to six years after the date of the termination of our Initial Public Offering as disclosed in the related offering documents.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
Summary of Significant Accounting Policies	Dec. 31, 2013
Accounting Policies [Abstract]	'
Summary of Significant Accounting Policies	'
	Summary of Significant Accounting Policies

	Basis of Presentation

	The accompanying consolidated financial statements include our consolidated accounts and the accounts of our wholly owned subsidiaries. We also consolidate other entities in which we have a controlling financial interest or other entities (referred to as variable interest entities or “VIEs”) where we are determined to be the primary beneficiary. VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. The primary beneficiary is required to consolidate a VIE for financial reporting purposes. The determination of the primary beneficiary requires management to make significant estimates and judgments about our rights, obligations, and economic interests in such entities as well as the same of the other owners. See Note 6, “Variable Interest Entities” for further information about our VIEs. For entities in which we have less than a controlling financial interest or entities with respect to which we are not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of these entities is included in consolidated net income. See Note 7, “Other Assets” for further information on our unconsolidated investment. All inter-company accounts and transactions have been eliminated in consolidation.

	Real Estate and Other Related Intangibles

	Acquisitions

	For real estate properties acquired by us or our Co-Investment Ventures classified as business combinations, we determine the purchase price, after adjusting for contingent consideration and settlement of any pre-existing relationships. We record the acquired assets and liabilities based on their fair values, including tangible assets (consisting of land, any associated rights, buildings and improvements), identified intangible assets and liabilities, asset retirement obligations, assumed debt, other liabilities and noncontrolling interests. Identified intangible assets and liabilities primarily consist of the fair value of in-place leases and contractual rights. Goodwill is recognized as of the acquisition date and measured as the aggregate fair value of the consideration transferred and any noncontrolling interest in the acquiree over the fair value of identifiable net assets acquired. Likewise, a bargain purchase gain is recognized in current earnings when the aggregate fair value of the consideration transferred and any noncontrolling interest in the acquiree are less than the fair value of the identifiable net assets acquired.

	The fair value of any tangible real estate assets acquired is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, buildings and improvements. Land values are derived from appraisals, and building values are calculated as replacement cost less depreciation or estimates of the relative fair value of these assets using discounted cash flow analyses or similar methods. When we acquire rights to use land or improvements through contractual rights rather than fee simple interests, we determine the value of the use of these assets based on the relative fair value of the assets after considering the contractual rights and the fair value of similar assets. Assets acquired under these contractual rights are classified as intangibles and amortized on a straight-line basis over the shorter of the contractual term or the estimated useful life of the asset. Contractual rights related to land or air rights that are substantively separated from depreciating assets are amortized over the life of the contractual term or, if no term is provided, are classified as indefinite-lived intangibles. Intangible assets are evaluated at each reporting period to determine whether the indefinite and finite useful lives are appropriate.

	We determine the value of in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant by applying a fair value model. The estimates of fair value of in-place leases include an estimate of carrying costs during the expected lease up periods for the respective leasable area considering current market conditions. In estimating fair value of in-place leases, we consider items such as real estate taxes, insurance, leasing commissions, tenant improvements and other operating expenses to execute similar deals as well as projected rental revenue and carrying costs during the expected lease up period. The estimate of the fair value of tenant relationships also includes our estimate of the likelihood of renewal. We amortize the value of in-place leases acquired to expense over the remaining term of the leases. The value of tenant relationship intangibles will be amortized to expense over the initial term and any anticipated renewal periods, but in no event will the amortization period for intangible assets exceed the remaining depreciable life of the building. The in-place leases are amortized over the remaining term of the in-place leases, approximately a six month term for multifamily in-place leases and terms ranging from three to 20 years for retail in-place leases.

	We determine the value of above-market and below-market in-place leases for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) estimates of current market lease rates for the corresponding in-place leases, measured over a period equal to (i) the remaining non-cancelable lease term for above-market leases, or (ii) the remaining non-cancelable lease term plus any fixed rate renewal options for below-market leases. We record the fair value of above-market and below-market leases as intangible assets or intangible liabilities, respectively, and amortize them as an adjustment to rental income over the above determined lease term. Given the short-term nature of multifamily leases, the value of above-market or below-market in-place leases are generally not material.

	We determine the value of other contractual rights based on our evaluation of the specific characteristics of the underlying contracts and by applying a fair value model to the projected cash flows or usage rights that considers the timing and risks associated with the cash flows or usage. We amortize the value of finite contractual rights over the remaining contract period. Indefinite-lived contractual rights are not amortized but are evaluated for impairment.

	We determine the fair value of assumed debt by calculating the net present value of the scheduled debt service payments using interest rates for debt with similar terms and remaining maturities that management believes we could obtain. Any difference between the fair value and stated value of the assumed debt is recorded as a discount or premium and amortized over the remaining life of the loan.

	Initial valuations are subject to change until our information is finalized, which is no later than 12 months from the acquisition date. We have had no significant valuation changes for acquisitions prior to December 31, 2013.

	Developments

	We capitalize project costs related to the development and construction of real estate (including interest, property taxes, insurance, and other direct costs associated with the development) as a cost of the development. Indirect project costs, not clearly related to development and construction, are expensed as incurred. Indirect project costs that clearly relate to development and construction are capitalized and allocated to the developments to which they relate. For each development, capitalization begins when we determine that the development is probable and significant development activities are underway. We suspend capitalization at such time as significant development activity ceases, but future development is still probable. We cease capitalization when the developments or other improvements, including any portion, are completed and ready for their intended use, or if the intended use changes such that capitalization is no longer appropriate. Developments or improvements are generally considered ready for intended use when the certificates of occupancy have been issued and the units become ready for occupancy.

	For the years ended December 31, 2013, 2012, and 2011, we capitalized interest of $10.5 million, $2.5 million, and $0.1 million, respectively.

	Depreciation

	Buildings are depreciated over their estimated useful lives ranging from 25 to 35 years using the straight-line method. Improvements are depreciated over their estimated useful lives ranging from 3 to 15 years using the straight-line method. Properties classified as held for sale are not depreciated. Depreciation of developments begins when the development is substantially completed and ready for its intended use.

	Repairs and Maintenance

	Expenditures for ordinary repairs and maintenance costs are charged to expense as incurred.

	Investment in Unconsolidated Real Estate Joint Venture

	We and our Co-Investment Ventures account for investments in unconsolidated real estate joint ventures using the equity method of accounting because we exercise significant influence over, but do not control, these entities. These investments are initially recorded at cost, including any acquisition costs, and are adjusted for our share of equity in earnings and distributions. We report our share of income and losses based on our economic interests in the entities.

	We capitalize interest expense to investments in unconsolidated real estate joint ventures for our share of qualified expenditures during their development phase.

	We amortize any excess of the carrying value of our investments in joint ventures over the book value of the underlying equity over the estimated useful lives of the underlying operating property, which represents the assets to which the excess is most clearly related.

	When we or our Co-Investment Ventures acquire a controlling interest in a previously noncontrolled investment, a gain or loss on revaluation of equity is recognized for the differences between the investment’s carrying value and fair value.

	Impairment of Real Estate Related Assets and Investments in Unconsolidated Real Estate Joint Ventures

	If events or circumstances indicate that the carrying amount of the property may not be recoverable, we make an assessment of the property’s recoverability by comparing the carrying amount of the asset to our estimate of the undiscounted future operating cash flows expected to be generated over the holding period of the asset including its eventual disposition. If the carrying amount exceeds the aggregate undiscounted future operating cash flows, we recognize an impairment loss to the extent the carrying amount exceeds the estimated fair value of the property. In addition, we evaluate indefinite-lived intangible assets for possible impairment at least annually by comparing the fair values with the carrying values. The fair value of intangibles is generally estimated by valuation of similar assets.

	For real estate we own through an investment in an unconsolidated real estate joint venture or other similar real estate investment structure, at each reporting date we compare the estimated fair value of our real estate investment to the carrying value. An impairment charge is recorded to the extent the fair value of our real estate investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline.

	We did not record any impairment losses for the years ended December 31, 2013, 2012 or 2011.

	Assets Held for Sale and Discontinued Operations

	Assuming we have no involvement after the sale of a multifamily community, the sale is considered a discontinued operation. In addition, multifamily communities classified as held for sale are also considered discontinued operations. We generally consider assets to be held for sale when all significant contingencies surrounding the closing have been resolved, which generally corresponds with the actual closing date. Multifamily communities held for sale are reported at the lower of their carrying value or their estimated fair value less costs to sell.

	Cash and Cash Equivalents

	We consider investments in bank deposits, money market funds and highly-liquid cash investments with original maturities of three months or less to be cash equivalents.

As of December 31, 2013 and December 31, 2012, cash and cash equivalents include $25.6 million and $19.0 million, respectively, held by individual Co-Investment Ventures that are available only for use in the business of the related Co-Investment Venture. Cash held by individual Co-Investment Ventures is not restricted to specific uses within those entities. However, the terms of the joint venture agreements limit the ability to distribute those funds to us or use them for our general corporate purposes. Cash held by individual Co-Investment Ventures is distributed from time to time to the Company and to the other Co-Investment Venture partners in accordance with the applicable Co-Investment Venture governing agreement, which may not be the same as the stated effective ownership interest. Cash distributions received by the Company from the individual Co-Investment Ventures are then available for our general corporate purposes.

Noncontrolling Interests

Redeemable noncontrolling interests are comprised of our consolidated Co-Investment Venture partners’ interests in multifamily communities where we believe it is probable that we will be required to purchase the partner’s noncontrolling interest. We record obligations under the redeemable noncontrolling interest initially at the higher of (a) fair value, increased or decreased for the noncontrolling interest’s share of net income or loss and equity contributions and distributions or (b) the redemption value. The redeemable noncontrolling interests are temporary equity not within our control, and presented in our consolidated balance sheet outside of permanent equity between debt and equity. The determination of the redeemable classification requires analysis of contractual provisions and judgments of redemption probabilities.

Non-redeemable noncontrolling interests are comprised of our consolidated Co-Investment Venture partners’ interests in multifamily communities as well as Class A, preferred cumulative, non-voting membership units (“Preferred Units”) issued by subsidiary REITs. We record these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss or equity contributions and distributions. These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity.

Income and losses are allocated to the noncontrolling interest holder based on its economic interests.

Transactions involving a partial sale or acquisition of a noncontrolling interest that does not result in a change of control are recorded at carrying value with no recognition of gain or loss. Any differences between the cash received or paid (net of any expenses) and the change in noncontrolling interest is recorded as a direct charge to additional paid-in capital. Transactions involving a partial sale or acquisition of a controlling interest resulting in a change in control are recorded at fair value with recognition of a gain or loss.

Other Assets

Other assets primarily include deferred financing costs, notes receivable, equity method investments, accounts receivable, restricted cash, interest rate caps, prepaid assets and deposits. Deferred financing costs are recorded at cost and are amortized using a straight-line method that approximates the effective interest method over the life of the related debt. We evaluate whether notes receivable are loans, investments in joint ventures or acquisitions of real estate based on a review of any rights to participate in expected residual profits and other equity and loan characteristics. As of and for the years ended December 31, 2013 and 2012, all of our notes receivable were appropriately accounted for as loans. We account for our derivative financial instruments, all of which are interest rate caps, at fair value. We use interest rate cap arrangements to manage our exposure to interest rate changes. We have not designated any of these derivatives as hedges for accounting purposes, and accordingly, changes in fair value are recognized in earnings.

Revenue Recognition

Rental income related to leases is recognized on an accrual basis when due from residents or commercial tenants, generally on a monthly basis. Rental revenues for leases with uneven payments and terms greater than one year are recognized on a straight-line basis over the term of the lease. Any deferred revenue is classified as a liability on the consolidated balance sheet and recognized on a straight-line basis as income over its contractual term.

Interest income is generated primarily on notes receivable and cash balances. Interest income is recorded on an accrual basis as earned.

Acquisition Costs

Acquisition costs for business combinations, which are expected to include most consolidated property acquisitions other than land acquisitions, are expensed when it is probable that the transaction will be accounted for as a business combination and the purchase will be consummated. Our acquisition costs related to investments in unconsolidated real estate joint ventures are capitalized as a part of our basis in the investment. Acquisition costs related to unimproved or non-operating land, primarily related to developments, are capitalized. Pursuant to our Advisory Management Agreement (as defined below), our Advisor is obligated to reimburse us for all investment-related expenses that the Company pursues but ultimately does not consummate. Prior to the determination of its status, amounts incurred are recorded in other assets. Acquisition costs and expenses include amounts incurred with our Advisor and with third parties.

Transition Expenses

Transition expenses include expenses related to our transition to self-management, primarily including legal, financial advisors, consultants, costs of the Company’s special committee of the board of directors, comprised of all of the Company’s independent directors (the “Special Committee”), general transition services (primarily related to staffing, information technology and facilities) and payments to the Advisor and its affiliates (collectively “Behringer”) in connection with the transition to self-management discussed further in Note 13, “Transition to Self-Management.”

Redemptions of Common Stock

We account for the possible redemption of our shares by classifying securities that are convertible for cash at the option of the holder outside of equity. We do not reclassify the shares to be redeemed from equity to a liability until such time as the redemption has been formally approved by our board of directors. The portion of the redeemed common stock in excess of the par value is charged to additional paid-in capital.

Income Taxes

We have elected to be taxed as a REIT under Sections 856 through 860 of the Code and have qualified as a REIT since the year ended December 31, 2007. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our REIT taxable income to our stockholders. As a REIT, we generally will not be subject to federal income tax at the corporate level. We are organized and operate in such a manner as to qualify for taxation as a REIT under the Code and intend to continue to operate in such a manner, but no assurance can be given that we will operate in a manner so as to remain qualified as a REIT. Beginning in 2013, taxable income from certain non-REIT activities is managed through a taxable REIT subsidiary (“TRS”) and is subject to applicable federal, state, and local income and margin taxes. We have no significant taxable income associated with our TRS.

We have evaluated the current and deferred income tax related to state taxes or other operations for which we do not have a REIT exemption, and we have no significant tax liability or benefit as of December 31, 2013 or December 31, 2012.

The carrying amounts of our assets and liabilities for financial statement purposes differ from our basis for federal income taxes due to tax accounting related to Co-Investment Ventures, fair value accounting for business combinations, straight lining of lease and related agreements and differing depreciation methods. The primary asset and liability balance sheet accounts with differences are real estate, assets and liabilities held for sale, intangibles, other assets, mortgages and notes payable and deferred revenues, primarily lease revenues, net. As a result of these differences, our net federal income tax basis exceeds the carrying value for financial statement purposes as of December 31, 2013 by approximately $54.2 million.

We recognize the financial statement benefit of an uncertain tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. As of December 31, 2013 and December 31, 2012, we had no significant uncertain tax positions.

Concentration of Credit Risk

We invest our cash and cash equivalents among several banking institutions and money market accounts in an attempt to minimize exposure to any one of these entities. As of December 31, 2013 and December 31, 2012, we had cash and cash equivalents deposited in certain financial institutions in excess of federally-insured levels. We regularly monitor the financial stability of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents.

Earnings per Share

Basic earnings per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings per share is calculated similarly, except that during periods of income from continuing operations it includes the dilutive effect of the assumed exercise of securities, including the effect of shares issuable under our preferred stock or stock-based incentive plans. During periods of net loss, the assumed exercise of securities is anti-dilutive and is not included in the calculation of earnings per share.

The Behringer Harvard Multifamily REIT I, Inc. Amended and Restated 2006 Incentive Award Plan (the “Incentive Award Plan”) authorizes the grant of non-qualified and incentive stock options, restricted stock awards, restricted stock units, stock appreciation rights, dividend equivalents and other stock-based awards. A total of 10 million shares has been authorized and reserved for issuance under the Incentive Award Plan. As of December 31, 2013, no options have been issued. For the years ended December 31, 2013, 2012, and 2011, 6,000 shares of the restricted stock have been included in the basic and dilutive earnings per share calculation.

For all years presented, the preferred stock and the convertible stock, with respect to periods each were outstanding, were excluded from the calculation of earnings per share because the effect would not be dilutive. However, based on changing market conditions, the outstanding preferred stock could be dilutive in future periods.

Reportable Segments

Our current business primarily consists of investing in and operating multifamily communities. Substantially all of our consolidated net income (loss) is from investments in real estate properties that we wholly own or own through Co-Investment Ventures, the latter of which may be accounted for under the equity method of accounting. Our management evaluates operating performance on an individual investment level. However, as each of our investments has similar economic characteristics in our consolidated financial statements, the Company is managed on an enterprise-wide basis with one reportable segment.

Use of Estimates in the Preparation of Financial Statements

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes to consolidated financial statements. These estimates include such items as: the purchase price allocations for real estate and other acquisitions; impairment of long-lived assets, notes receivable and equity-method real estate investments; fair value evaluations; earning recognition of note receivable interest income, noncontrolling interests and equity in earnings of investments in unconsolidated real estate joint ventures; depreciation and amortization; and recognition and timing of transition expenses. Actual results could differ from those estimates.

Reclassifications

Certain financial information on the Consolidated Balance Sheet as of December 31, 2012 has been revised to conform to the current year presentation. As of December 31, 2012, investment in unconsolidated real estate joint venture of $3.0 million previously included in its own line item is now being included in other assets, net. As of December 31, 2012, construction costs payable of $9.8 million previously included in the line item accounts payable and other liabilities is now being disclosed separately on the Consolidated Balance Sheet.

New_Accounting_Pronouncements

New Accounting Pronouncements	12 Months Ended
New Accounting Pronouncements	Dec. 31, 2013
Accounting Policies [Abstract]	'
New Accounting Pronouncements	'
	New Accounting Pronouncements

	In February 2013, the Financial Accounting Standards Board issued updated guidance for the measurement and disclosure of obligations. The guidance requires an entity to measure obligations resulting from joint and several liability arrangements for which the total amount of the obligation within the scope of this guidance is fixed at the reporting date, as the sum of the amount the reporting entity agreed to pay on the basis of its arrangement among its co-obligors and any additional amount the reporting entity expects to pay on behalf of its co-obligors. The guidance in the update also requires an entity to disclose the nature and amount of the obligation as well as other information about such obligations. This guidance is effective for the first interim or annual period beginning on or after December 15, 2013. The adoption of this guidance is not expected to have a material impact on our financial statements or disclosures.

Business_Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Business Combinations	'
	Business Combinations

	Acquisitions of Real Estate and Other Related Party Interests

	On July 31, 2013, we acquired the GP Master Interest in a related party transaction with an affiliate of the Advisor for $23.1 million in cash, excluding closing costs, of which $9.3 million related to an acquisition of the general partner’s asset management and related fee revenue services and contracts and has been accounted for as a business combination. The remaining $13.8 million was accounted for as an acquisition of a noncontrolling interest in the PGGM CO-JVs. See Note 11, “Noncontrolling Interests” for additional discussion.

	In July 2013, we acquired Vara, a 202 unit multifamily community located in San Francisco, California, from an unaffiliated seller, for an aggregate gross purchase price of $108.7 million, excluding closing costs. Vara was unoccupied at the date of acquisition.

	In April 2012, we acquired Pembroke Woods, a 240 unit multifamily community located in Pembroke, Massachusetts, from an unaffiliated seller, for an aggregate gross purchase price of $42.3 million, excluding closing costs.

	In February 2012, we settled a dispute concerning the enforceability of an option agreement with the Grand Reserve Property Entity to acquire the Grand Reserve, a 149 unit multifamily community located in Dallas, Texas. In the settlement, we agreed to acquire the Grand Reserve multifamily community by repaying the outstanding $26.2 million construction loan, assuming the other existing standard operating liabilities and receiving $0.4 million in net cash and all other standard operating assets and liabilities. In connection with the closing, we contributed the full amount of the cash acquisition consideration in exchange for an additional 32.5% interest, increasing our stated, controlling ownership in the PGGM CO-JV to 87.5%. Prior to this transaction, we had note receivables in the Grand Reserve Property Entity with a carrying value of $5.9 million. In conjunction with this transaction, the note receivables were canceled.

	Consolidation of Previously Unconsolidated Multifamily Community

	Effective July 31, 2012, we converted a note receivable due from the Veritas Property Entity, with a carrying value of $20.2 million, into an additional equity interest in the Veritas Property Entity and became the general partner of the Veritas Property Entity. As a result of these transactions, we now account for our investment in the Veritas Property Entity on the consolidated basis of accounting. We also recorded a gain on revaluation of equity of approximately $1.7 million.

	Business Combination Summary Information

	The following tables present certain additional information regarding our business combinations during the years ended December 31, 2013 and 2012.

	The amounts recognized for major assets acquired and liabilities assumed, including a reconciliation to cash consideration as of the business combination date are as follows (in millions):


		2013 Acquisitions				2012 Acquisitions
	Land	$	20.2			$	19.5

	Buildings and improvements	88.5				113.7

	Cash acquired	0.6				1.5

	Intangibles (a)	9.2				2.9

	Investment in unconsolidated real estate joint venture	6.4				—

	Other assets	0.1				0.3

	Mortgage loans payable	—				(37.1		)

	Accrued liabilities	(0.9		)		(1.3		)
	Noncontrolling interest	(6.8		)		(1.0		)
	Other consideration (b)	—				(5.9		)

	Net assets	117.3				92.6

	Other consolidation/elimination adjustments:
	Investment in unconsolidated real estate joint venture	—				(22.4		)

	Gain on revaluation of equity for a business combination	—				(1.7		)

	Cash consideration	$	117.3			$	68.5






	(a)	The intangibles for the 2013 acquisitions are $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts. The intangibles for the 2012 acquisitions are in-place lease intangibles.


	(b)	Other consideration represents the cancellation of the notes receivable in connection with the acquisition of the Grand Reserve multifamily community in 2012.

	Certain operating information for the periods from the business combination dates to December 31, 2013 and 2012 are as follows (in millions):


	For the Periods to December 31, 2013				For the Periods to December 31, 2012
Rental revenues	$	2.2			$	7.8

Acquisition expenses	$	3.3			$	2.5

Depreciation and amortization	$	3.2			$	5.9

Gain on revaluation of equity on a business combination	$	—			$	1.7

Net loss attributable to common stockholders	$	(3.1	)		$	(2.7	)

The following unaudited consolidated pro forma information is presented as if the acquisitions were acquired on January 1, 2012. The information excludes activity that is non-recurring and not representative of our future activity, primarily transition expenses of $9.0 million for the year ended December 31, 2013, acquisition expenses of $3.7 million and $2.5 million for the years ended December 31, 2013 and 2012, respectively, and gain on revaluation of equity on a business combination of $1.7 million for the year ended December 31, 2012. The information presented below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2012, nor does it purport to represent our future operations (amounts in millions, except per share):


		Pro Forma (unaudited)
		For the Year Ended December 31,
		2013				2012
Rental revenues		$	190.6			$	176.3

Depreciation and amortization		$	88.4			$	106.5

Loss from continuing operations		$	(6.8	)		$	(41.9	)
Loss from continuing operations per share		$	(0.04	)		$	(0.25	)

We are in the process of finalizing our acquisition allocations for our 2013 acquisition, which are subject to change until our information is finalized, no later than twelve months from the acquisition date.

Real_Estate_Investments

Real Estate Investments	12 Months Ended
Real Estate Investments	Dec. 31, 2013
Real Estate [Abstract]	'
Real Estate Investments	'
	Real Estate Investments

	Real Estate Investments and Intangibles and Related Depreciation and Amortization

	As of December 31, 2013 and December 31, 2012, major components of our real estate investments and intangibles and related accumulated depreciation and amortization were as follows (in millions):


			December 31, 2013												December 31, 2012
			Buildings				Intangibles								Buildings			Intangibles
			and				In-Place				Other				and			In-Place			Other
			Improvements				Leases				Contractual				Improvements			Leases			Contractual
	Cost		$	1,833.40			$	41.9			$	25.6			$	1,849.50		$	43.6		$	16.4
	Cost		$	1,833.40			$	41.9			$	25.6			$	1,849.50		$	43.6		$	16.4
	Less: accumulated depreciation and amortization		(195.0		)		(39.1		)		(2.6		)		(123.4		)	(40.1		)	(0.8		)
	Net		$	1,638.40			$	2.8			$	23			$	1,726.10		$	3.5		$	15.6
	Net		$	1,638.40			$	2.8			$	23			$	1,726.10		$	3.5		$	15.6

	Depreciation expense for the years ended December 31, 2013, 2012, and 2011 was approximately $81.8 million, $76.4 million, and $25.5 million, respectively.

	Cost of intangibles relates to the value of in-place leases and other contractual intangibles. As discussed in Note 4, “Business Combinations,” during 2013 we acquired $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts related to our acquisition of the GP Master Interest on July 31, 2013. Also included in other contractual intangibles as of December 31, 2013 and December 31, 2012 is $6.8 million related to the use rights of a parking garage and site improvements and $9.5 million of indefinite-lived contractual rights related to land air rights.

	Amortization expense associated with our lease and other contractual intangibles for the years ended December 31, 2013, 2012, and 2011 was approximately $2.5 million, $21.5 million, and $9.0 million, respectively.

	Anticipated amortization associated with lease and other contractual intangibles for each of the following five years is as follows (in millions):


			Anticipated Amortization
	Year		of Intangibles
	2014		$	4.2
	2014		$	4.2
	2015		$	2.8
	2015		$	2.8
	2016		$	1.4
	2016		$	1.4
	2017		$	1.4
	2017		$	1.4
	2018		$	0.5
	2018		$	0.5

	Sales of Real Estate and Discontinued Operations

	The following table presents our sales of real estate for the years ended December 31, 2013, 2012 and 2011 (in millions):


	Date of Sale		Multifamily Community		Sales Contract Price				Net Cash Proceeds				Gain on Sale of Real Estate
	For the Year Ended December 31, 2013
	Sep-13		Grand Reserve Orange		$	35.3			$	34.3			$	12.8
	Sep-13		Grand Reserve Orange		$	35.3			$	34.3			$	12.8
	Jun-13		Halstead		43.5				42.2				11.9
	Jun-13		Halstead		43.5				42.2				11.9
	May-13		Cyan/PDX (“Cyan”)		95.8				95.5				19.2
	May-13		Cyan/PDX (“Cyan”)		95.8				95.5				19.2
	Mar-13		The Reserve at John’s Creek Walk (“Johns Creek”)		37.3				33.3				6.9
	Mar-13		The Reserve at John’s Creek Walk (“Johns Creek”)		37.3				33.3				6.9
			Total		$	211.9			$	205.3			$	50.8
			Total		$	211.9			$	205.3			$	50.8

	For the Year Ended December 31, 2012
	Mar-12		Mariposa Lofts Apartments (“Mariposa”)		$	40			$	23.9			$	13.3
	Mar-12		Mariposa Lofts Apartments (“Mariposa”)		$	40			$	23.9			$	13.3

	For the Year Ended December 31, 2011
	May-11		Waterford Place		$	110			$	50.6			$	—
	May-11		Waterford Place		$	110			$	50.6			$	—

The table below includes the results of operations and gain on sale of real estate for the multifamily communities that have been classified as discontinued operations in the accompanying consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 (in millions):


		For the Year Ended
		December 31,
		2013				2012				2011
Rental revenues		$	8			$	17.8			$	9
Rental revenues		$	8			$	17.8			$	9

Expenses
Expenses
Property operating expenses		2.5				5.4				2.7
Property operating expenses		2.5				5.4				2.7
Real estate taxes		1.1				2.2				1.3
Real estate taxes		1.1				2.2				1.3
Interest expense		1				3.1				1.3
Interest expense		1				3.1				1.3
Depreciation and amortization		3.3				9.7				3.1
Depreciation and amortization		3.3				9.7				3.1
Total expenses		7.9				20.4				8.4
Total expenses		7.9				20.4				8.4

Loss on early extinguishment of debt		(0.8		)		—				—
Loss on early extinguishment of debt		(0.8		)		—				—
Equity in loss of investments in unconsolidated real estate joint ventures		—				—				(1.0		)
		—				—				(1.0		)

Loss from discontinued operations		(0.7		)		(2.6		)		(0.4		)
(Income) loss attributable to noncontrolling interests		(6.9		)		1.7				0.2
(Income) loss attributable to noncontrolling interests		(6.9		)		1.7				0.2
Loss from discontinued operations attributable to common stockholders		$	(7.6	)		$	(0.9	)		$	(0.2	)

Gain on sale of real estate		$	50.8			$	13.3			$	—
Gain on sale of real estate		$	50.8			$	13.3			$	—

Variable_Interest_Entities

Variable Interest Entities	12 Months Ended
Variable Interest Entities	Dec. 31, 2013
Variable Interest Entities	'
Variable Interest Entities	'
	Variable Interest Entities

	As of December 31, 2013 and December 31, 2012, we have concluded that we are the primary beneficiary of ten and three VIEs, respectively. All of these VIEs are the Property Entities of PGGM CO-JVs or Developer CO-JVs created for the purpose of developing multifamily communities. We entered into these Co-Investment Ventures in 2012 and 2013. At inception, we had determined that none of the Co-Investment Ventures were VIEs and because we were the general partner (directly or indirectly) of each Co-Investment Venture and had control of their operations and business affairs, we consolidated each Co-Investment Venture. After separate reconsideration events during 2012 and 2013, all of which were related to capital restructuring, we have concluded that all of these Co-Investment Ventures are now VIEs. Because these Co-Investment Ventures were previously consolidated, the VIE determination did not affect our financial position, financial operations or cash flows. Our ownership interest in each of the Co-Investment Ventures based upon contributed capital ranges from 55% to 100%.

	Any significant amounts of assets and liabilities related to our consolidated VIEs are identified parenthetically on our consolidated balance sheets. Four VIEs, all of which are actively developing multifamily communities, have closed aggregate construction financing of $108.0 million during 2013 which will be drawn on during the construction of the developments. As of December 31, 2013, $32.2 million has been drawn under three of the construction loans. We have provided partial payment guarantees for two of the construction loans with a total commitment of $54.8 million, of which $12.3 million is outstanding as of December 31, 2013. On the other construction loans, the lenders have no recourse to us other than a guaranty provided by the Company with respect to the construction of the project (a completion guaranty). The construction loans are secured by a first mortgage in each development. See Note 9, “Mortgages and Notes Payable” for further information on our construction loans. The total assets of the VIEs are $288.0 million and $47.0 million as of December 31, 2013 and December 31, 2012, respectively, $279.6 million and $46.1 million of which is reflected in construction in progress.

Other_Assets

Other Assets	12 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
Other Assets	'
	Other Assets

	The components of other assets are as follows (in millions):


			31-Dec-13		December 31,
					2012
	Notes receivable, net (a)		$	52.8	$	36

	Escrows and restricted cash		12.4		10.3

	Deferred financing costs, net		12.1		8.5

	Resident, tenant and other receivables (b)		8.3		6.2

	Prepaid assets, deposits and other assets		7.3		5

	Investment in unconsolidated real estate joint venture		5.5		3

	Interest rate caps		0.2		0.3

	Total other assets		$	98.6	$	69.3







	(a)	Notes receivable include mezzanine and land loans, primarily related to multifamily development projects. As of December 31, 2013, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 2.0 years.


	(b)	Includes a receivable from the Advisor of $1.8 million as of December 31, 2013.

	As of December 31, 2013 and December 31, 2012, we have a $5.5 million and $3.0 million, respectively, investment in an unconsolidated PGGM CO-JV, the Custer PGGM CO-JV. Our effective ownership in the Custer PGGM CO-JV is 55%. Distributions are made pro rata in accordance with ownership interests. The primary asset of the Custer PGGM CO-JV is a mezzanine loan secured by the development of a 444 unit multifamily community in Allen, Texas, a suburb of Dallas. The mezzanine loan, which as of December 31, 2013 has been fully funded, has an interest rate of 14.5% and matures in 2015.

	Prior to July 31, 2012, we had a PGGM CO-JV investment on the equity method of accounting, the Veritas Property Entity. Effective July 31, 2012, we converted a notes receivable due from the Veritas Property Entity into an additional equity interest in the Veritas Property Entity and became the general partner of the Veritas Property Entity. As a result of these transactions, effective as of July 31, 2012, we accounted for our investment in the Veritas Property Entity on the consolidated basis of accounting, and recorded a gain on revaluation of equity of approximately $1.7 million in July 2012.

	We enter into interest rate cap agreements for interest rate risk management purposes and not for trading or other speculative purposes. These interest rate cap agreements have not been designated as hedges. The following table provides a summary of our interest rate caps as of December 31, 2013 (in millions):


	Notional amount	$	162.7

	Range of LIBOR cap rate	2.0% to 4.0%
	Range of maturity dates	2016 to 2017
	Estimated fair value	$	0.2

Leasing_Activity

Leasing Activity	12 Months Ended
	Dec. 31, 2013
Leases [Abstract]	'
Leasing Activity	'
	Leasing Activity

	In addition to multifamily resident units, certain of our consolidated multifamily communities have retail areas, representing approximately 2% of total rentable area of our consolidated multifamily communities. Future minimum base rental payments due to us under these non-cancelable retail leases in effect as of December 31, 2013 are as follows (in millions):


		Future Minimum
	Year	Lease Payments
	2014	$	3.7

	2015	3.7

	2016	3.6

	2017	3.5

	2018	3.2

	Thereafter	28.8

	Total	$	46.5

Mortgages_and_Notes_Payable

Mortgages and Notes Payable	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Mortgages and Notes Payable	'
	Mortgages and Notes Payable

	The following table summarizes the carrying amounts of the mortgages and notes payable classified by whether the obligation is ours or that of the applicable consolidated Co-Investment Venture as of December 31, 2013 and December 31, 2012 (amounts in millions and monthly LIBOR at December 31, 2013 is 0.17%):


									As of December 31, 2013
			December 31,			December 31,			Wtd. Average
			2013			2012			Interest Rates	Maturity Dates
	Company Level (a)

	Fixed rate mortgage payable		$	87.3		$	30.3		3.95%	2018 to 2020

	Variable rate mortgage payable		24			24			Monthly LIBOR + 2.45%	2014

	Variable rate construction loans payable (b)		12.2			—			Monthly LIBOR + 2.25%	2017

	Total Company Level		123.5			54.3

	Co-Investment Venture Level - Consolidated (c)

	Fixed rate mortgages payable		852.3			902.2			3.73%	2015 to 2020

	Variable rate mortgage payable		12.2			12.5			Monthly LIBOR + 2.35%	2017

	Fixed rate construction loan payable (d)		24.6			—			4.13%	2018

	Variable rate construction loans payable (e)		9.8			—			Monthly LIBOR + 2.25%	2016 (b)

			898.9			914.7

	Plus: unamortized adjustments from business combinations		6.7			10.6

	Total Co-Investment Venture Level - Consolidated		905.6			925.3

	Total consolidated mortgages and notes payable		$	1,029.10		$	979.6






	(a)	Company level debt is defined as debt that is a direct or indirect obligation of the Company or its wholly owned subsidiaries. Company level debt includes Co-Investment debt where the Company has provided guarantees for the repayment of the debt.


	(b)	Includes two loans with total commitments of $54.8 million. Each loan includes an extension option of one to two years.


	(c)	Co-Investment Venture level debt is defined as debt that is an obligation of the Co-Investment Venture and
	not an obligation or contingency for us.


	(d)	Includes two loans with total commitments of $84.8 million. One of the construction loans has an option to convert the construction loan into a permanent loan with a maturity of 2023.


	(e)	Includes one loan with a total commitment of $21.9 million. This loan includes two one-year extension options.

	As of December 31, 2013, $1.9 billion of the net consolidated carrying value of real estate collateralized the mortgages and notes payable. We believe we are in compliance with all financial covenants as of December 31, 2013.

	As of December 31, 2013, contractual principal payments for our mortgages and notes payable for the five subsequent years and thereafter are as follows (in millions):


						Co-Investment			Total
	Year		Company Level			Venture Level			Consolidated
2014		$	24		$	5.5		$	29.5

2015		0.2			83.6			83.8

2016		0.6			155.6			156.2

2017		13.8			219.9			233.7

2018		30			140.8			170.8

Thereafter		54.9			293.5			348.4

Total		$	123.5		$	898.9		1,022.40

Add: unamortized adjustments from business combinations								6.7

Total mortgages and notes payable								$	1,029.10

Credit_Facility_Payable

Credit Facility Payable	12 Months Ended
Credit Facility Payable	Dec. 31, 2013
Line of Credit Facility [Abstract]	'
Credit Facility Payable	'
	Credit Facility Payable

	The $150.0 million credit facility matures on April 1, 2017, when all unpaid principal and interest is due. Borrowing tranches under the credit facility bear interest at a “base rate” based on either the one-month or three-month LIBOR rate, selected at our option, plus an applicable margin which adjusts based on the facility’s debt service requirements. As of December 31, 2013, the applicable margin was 2.08% and the base rate was 0.17% based on one-month LIBOR. The credit facility also provides for fees based on unutilized amounts and minimum usage. The unused facility fee is equal to 1% per annum of the total commitment less the greater of 75% of the total commitment or the actual amount outstanding. The minimum usage fee is equal to 75% of the total credit facility times the lowest applicable margin less the margin portion of interest paid during the calculation period. The loan requires minimum borrowing of $10.0 million and monthly interest-only payments and monthly or annual payment of fees. We may prepay borrowing tranches at the expiration of the LIBOR interest rate period without any penalty. Prepayments during a LIBOR interest rate period are subject to a prepayment penalty generally equal to the interest due for the remaining term of the LIBOR interest rate period.

	Draws under the credit facility are secured by a pool of certain wholly owned multifamily communities. We have the ability to add and remove multifamily communities from the collateral pool, pursuant to the requirements under the credit facility agreement. We may also add multifamily communities in our discretion in order to increase amounts available for borrowing. As of December 31, 2013, $170.8 million of the net carrying value of real estate collateralized the credit facility. The aggregate borrowings under the credit facility are limited to 70% of the value of the collateral pool, which may be different than the carrying value for financial statement reporting. As of December 31, 2013, available but undrawn amounts under the credit facility are approximately $138.1 million.

	The credit facility agreement contains customary provisions with respect to events of default, covenants and borrowing conditions. In particular, the credit facility agreement requires us to maintain a consolidated net worth of at least $150.0 million, liquidity of at least $15.0 million and net operating income of the collateral pool to be no less than 155% of the facility debt service cost. Certain prepayments may be required upon a breach of covenants or borrowing conditions. We believe we are in compliance with all provisions as of December 31, 2013.

Noncontrolling_Interests

Noncontrolling Interests

12 Months Ended

Dec. 31, 2013

Noncontrolling Interest [Abstract]

Noncontrolling Interests

Non-redeemable Noncontrolling Interests

Non-redeemable noncontrolling interests for the Co-Investment Venture partners represent their proportionate share of the equity in consolidated real estate ventures. Income and losses are allocated to the noncontrolling interest holders based on their effective ownership percentage. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements. Each noncontrolling interest is not redeemable by the holder and, accordingly, is reported as equity.

As of December 31, 2013 and December 31, 2012, non-redeemable noncontrolling interests (“NCI”) consisted of the following (in millions):

December 31, 2013

December 31, 2012

Effective

Amount

NCI % (a)

Amount

NCI % (a)

PGGM Co-Investment Partner (b)

293.5

26% to 45%

166.2

26% to 45%

MW Co-Investment Partner

157.8

45%

192.6

45%

Developer Partners

3.5

0% to 6%

5.1

0% to 20%

Subsidiary preferred units

1.4

N/A

1.5

N/A

Total non-redeemable NCI

456.2

365.4

(b)

As discussed in Note 1, “Organization and Business”, the Master Partnership was our partner in these Co-Investment Ventures as of December 31, 2012.

Each noncontrolling interest relates to ownership interests in CO-JVs where we have substantial operational control rights. In the case of the PGGM Co-Investment Partner, their noncontrolling interest includes an interest in the Master Partnership and the PGGM CO-JVs. For PGGM CO-JVs and MW CO-JVs, capital contributions and distributions are generally made pro rata in accordance with these ownership interests; however, PGGM CO-JV’s pro rata interest is subject to a promoted interest to us if certain performance returns are achieved. Developer CO-JVs generally have limited participation in contributions and generally only participate in distributions after certain preferred returns are collected by us, which in some cases may not be until we have received all of our investment capital. None of these Co-Investment Venture partners have any rights to put or redeem their ownership interest; however, they generally provide for buy/sell rights after certain periods. In certain circumstances the governing documents of the PGGM CO-JV or MW CO-JV may require a sale of the Co-Investment Venture or its subsidiary REIT rather than as an asset sale. For PGGM CO-JVs we have rights in limited circumstances generally related to a listing of our shares or a merger to acquire the PGGM Co-Investment Partner’s interest at the greater of fair value or an amount that would provide the PGGM Co-Investment Partner certain minimum returns on its invested equity.

Noncontrolling interests also include between 121 to 125 preferred units issued by a subsidiary of each of the PGGM CO-JVs and the MW CO-JVs in order for such subsidiaries to qualify as a REIT for federal income tax purposes. The preferred units pay an annual distribution of 12.5% on their face value and are senior in priority to all other members’ equity. The PGGM CO-JVs and MW CO-JVs may cause the subsidiary REIT, at their option, to redeem the preferred units in whole or in part, at any time for cash at a redemption price of $500 per unit (the face value), plus all accrued and unpaid distributions thereon to and including the date fixed for redemption, plus a premium per unit generally of $50 to $100 for the first year which generally declines in value $25 per unit each year until there is no redemption premium remaining. The preferred units are not redeemable by the unit holders and we have no current intent to exercise our redemption option. Accordingly, these noncontrolling interests are reported as equity.

For the year ended December 31, 2013, we paid distributions to noncontrolling interests of $51.3 million of which $25.0 million was related to operating activity. For the year ended December 31, 2012, we paid distributions to noncontrolling interests of $29.7 million, of which $20.4 million was related to operating activity.

In May 2013, we acquired all of the noncontrolling interest in the Cyan MW CO-JV for cash of $27.9 million. In addition, on July 31, 2013, we acquired the 1% general partnership interest in the Master Partnership in a related party transaction with an affiliate of the Advisor for $23.1 million in cash, excluding closing costs, of which $13.8 million related to the partial acquisition of an approximate 1% noncontrolling interest in the Master Partnership’s interest in the PGGM CO-JVs. The remaining $9.3 million was accounted for as a business combination. No gain or loss was recognized in recording these transactions, but a net decrease to additional paid in capital of $23.2 million was recorded. (See Note 4, “Business Combinations” for additional discussion of the Master Partnership acquisition and Note 5, “Real Estate Investments” for additional information regarding the subsequent sale of the Cyan multifamily community.)

During 2013, we partially sold an additional noncontrolling interest in the Cameron PGGM CO-JV to PGGM for $7.3 million in cash. On December 20, 2013, the Master Partnership was restructured to increase PGGM’s equity commitment, and we partially sold an approximate 42% noncontrolling interest in 13 Developer CO-JVs to PGGM for $146.4 million. No gain or loss was recognized in recording these transactions, but a net increase to additional paid-in capital of $0.1 million was recorded.

During 2012, we separately contributed a total of $25.3 million, net to two PGGM CO-JVs, the Grand Reserve PGGM CO-JV and The Cameron PGGM CO-JV, increasing our controlling indirect financial interests in each entity. No gain or loss was recognized in recording the contributions, but a net decrease to additional paid-in capital of $4.4 million was recorded. Additionally, effective July 31, 2012, we converted a notes receivable due from the Veritas Property Entity into an additional equity interest in the Veritas Property Entity and became the general partner of the Veritas Property Entity, increasing our controlling financial interests in the Veritas Property Entity. A gain on revaluation of equity on a business combination of $1.7 million was recorded in connection with this transaction.

Redeemable Noncontrolling Interests

As of December 31, 2013 and December 31, 2012, redeemable noncontrolling interests (“NCI”) consisted of the following (in millions):

December 31, 2013

December 31, 2012

Effective

Amount

NCI % (a)

Amount

NCI % (a)

Developer Partners

0% to 20%

8.6

0% to 20%

(a) Effective noncontrolling interest percentage is based upon the noncontrolling interest’s share of contributed capital. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements. For Co-Investment Ventures where the developer’s equity has been returned, the effective noncontrolling interest percentage is shown as zero.

Developer CO-JVs included in redeemable noncontrolling interests represent ownership interests by regional or national multifamily developers, which may require that we pay or reimburse the partners upon certain events. These amounts include reimbursing partners once certain development milestones are achieved, generally related to entitlements, permits or final budgeted construction costs.They also generally have put options, usually exercisable one year after completion of the development and thereafter, pursuant to which we would be required to acquire their ownership interest at a set price and options to require a sale of the development generally after the seventh year after completion of the development. These Developer CO-JVs also include buy/sell provisions, generally available after the tenth year after completion of the development. Each of these Developer CO-JVs is managed by a subsidiary of ours. As manager, we have substantial operational control rights. These Developer CO-JVs generally provide that we have a preferred cash flow distribution until we receive certain returns on and of our investment. All of these Developer Partners also have a back end interest, generally only attributable to distributions related to a property sale or financing. Generally, these noncontrolling interests have no obligation to make any additional capital contributions.

In June 2012, we acquired all of the redeemable, noncontrolling interest related to the Bailey’s Crossing Property Entity for $3.0 million in cash. No gain or loss was recorded in connection with this transaction but an increase to additional paid-in capital of $1.8 million was recorded.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Stockholders' Equity	'
	Stockholders’ Equity

	Capitalization

	As of December 31, 2013 and December 31, 2012, we had 168.3 million and 167.5 million shares of common stock outstanding, respectively, including 6,000 shares of stock issued to our independent directors for no cash, and 24,969 shares owned by an affiliate of the Advisor issued for cash of approximately $0.2 million.

	We are authorized to issue 124,999,000 shares of preferred stock which may be issued in a variety of series with different attributes.

	As of December 31, 2012, we had 1,000 shares of convertible stock owned by Behringer, issued for cash of $1,000. In connection with our transition to self-management, Behringer surrendered all 1,000 shares of convertible stock on July 31, 2013, which we immediately canceled.

	Also in connection with our transition to self-management, on July 31, 2013, we issued 10,000 shares of a new Series A non-participating, voting, cumulative, 7.0% convertible preferred stock, par value $0.0001 per share (the “Series A Preferred Stock”), to Behringer. The shares of Series A Preferred Stock entitle the holder to one vote per share on all matters submitted to the holders of the common stock, a liquidation preference equal to $10.00 per share before the holders of common stock are paid any liquidation proceeds, and 7.0% cumulative cash dividends on the liquidation preference and any accrued and unpaid dividends.

	As determined and limited pursuant to the Articles Supplementary establishing the Series A Preferred Stock, the Series A Preferred Stock will automatically convert into shares of our common stock upon any of the following triggering events: (a) in connection with a listing of our common stock on a national exchange, (b) upon a change of control of the Company or (c) upon election by the holders of a majority of the then outstanding shares of Series A Preferred Stock on or before July 31, 2018. Notwithstanding the foregoing, if a listing occurs prior to December 31, 2016, such listing (and the related triggering event) will be deemed to occur on December 31, 2016 and if a change of control transaction occurs prior to December 31, 2016, such change of control transaction will not result in a change of control triggering event. Upon a triggering event, all of the shares of Series A Preferred Stock will, in total, generally convert into an amount of shares of our common stock equal in value to 15% of the excess of (i) (a) the per share value of our common stock at the time of the applicable triggering event, as determined pursuant to the Articles Supplementary establishing the Series A Preferred Stock and assuming no shares of the Series A Preferred Stock are outstanding, multiplied by the number of shares of common stock outstanding on July 31, 2013, plus (b) the aggregate value of distributions (including distributions constituting a return of capital) paid through such time on the shares of common stock outstanding on July 31, 2013 over (ii) the aggregate issue price of those outstanding shares plus a 7% cumulative, non-compounded, annual return on the issue price of those outstanding shares. In the case of a triggering event based on a listing or change of control only, this amount will be multiplied by another 1.15 to arrive at the conversion value.

	Distributions

	On March 29, 2012, our board of directors authorized a special cash distribution related to the sale of Mariposa (the “Mariposa Distribution”) in the amount of $0.06 per share of common stock payable to stockholders of record on July 6, 2012. The Mariposa Distribution was accrued during March 2012 and paid in cash on July 11, 2012. As of December 31, 2013, no other special distributions have been paid or authorized.

	Distributions, including those paid by issuing shares under the DRIP and the Mariposa Distribution, for the years ended December 31, 2013 , 2012, and 2011 were as follows (amounts in millions):


			For the Year Ended December 31,
			2013						2012						2011
			Declared (a)			Paid (b)			Declared (a)			Paid (b)			Declared (a)			Paid (b)
	Fourth Quarter Distributions
	Regular distributions		$	14.9		$	14.7		$	14.7		$	14.5		$	24.9		$	24.6

	Special cash distribution		—			—			—			—			—			—

	Total		$	14.9		$	14.7		$	14.7		$	14.5		$	24.9		$	24.6


	Third Quarter Distributions
	Regular distributions		$	14.9		$	14.9		$	14.7		$	14.6		$	23.7		$	22

	Special cash distribution		—			—			—			10			—			—

	Total		$	14.9		$	14.9		$	14.7		$	24.6		$	23.7		$	22


	Second Quarter Distributions
	Regular distributions		$	14.7		$	14.9		$	14.4		$	18.1		$	18.5		$	17.7

	Special cash distribution		—			—			0.1			—			—			—

	Total		$	14.7		$	14.9		$	14.5		$	18.1		$	18.5		$	17.7


	First Quarter Distributions

	Regular distributions		$	14.5		$	14.5		$	24.8		$	24.8		$	15.9		$	15.4

	Special cash distribution		—			—			9.9			—			—			—

	Total		$	14.5		$	14.5		$	34.7		$	24.8		$	15.9		$	15.4


	Total through December 31

	Regular distributions		$	59		$	59		$	68.6		$	72		$	83		$	79.7

	Special cash distribution		—			—			10			10			—			—

Total		$	59		$	59		$	78.6		$	82		$	83		$	79.7






(a) Represents distributions accruing during the period on a daily basis.

(b) The regular distributions that accrue each month are paid in the following month. Amounts paid include both distributions paid in cash and reinvested pursuant to our DRIP.

We calculate annualized rates as if the shares were outstanding for a full year based on a $10 per share purchase price.

The daily distribution amount from January 1, 2012 through the end of the first quarter of 2012 was $0.0016438 per share of common stock, an annualized rate of 6%. On March 19, 2012, our board of directors authorized distributions at a daily amount of $0.000958904 per share of common stock, an annualized rate of 3.5%, beginning in the month of April 2012. Our board of directors has authorized the 3.5% annualized distribution rate through March 31, 2014.

Share Redemption Program

From the inception of our share redemption program (“SRP”) in 2008, all redemption requests properly submitted and approved through the first quarter of 2012 were fulfilled. For the three months ended March 31, 2012, approximately 1.7 million shares of common stock were redeemed at a total consideration of $15.5 million and a weighted average share price of $9.50.

Effective from April 1, 2012 through February 28, 2013, our board of directors suspended our SRP. In connection with its determination of the estimated value of our shares effective March 1, 2013, our board of directors modified and reinstated our SRP, which permits our stockholders to sell their shares back to us subject to the significant conditions and limitations of the program. The modified and reinstated SRP was effective as of March 1, 2013, and the first time period redemptions were considered under the modified and reinstated SRP was at the end of the second quarter 2013.

As modified, for redemptions other than those sought upon a stockholder’s death, qualifying disability or confinement to a long-term care facility (“Ordinary Redemptions”), the purchase price per share redeemed under our SRP will equal the lesser of (i) 85% of the current estimated share value pursuant to our valuation policy and (ii) the average price per share the original purchaser or purchasers of shares paid to us for all of their shares (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to our common stock) (the “Original Share Price”) less the aggregate of any special distributions so designated by our board of directors, distributed to stockholders prior to the redemption date and declared from the date of first issue of such redeemed shares (the “Special Distributions”). For redemptions sought upon a stockholder’s death, qualifying disability or confinement to a long-term care facility (“Exceptional Redemptions”), the purchase price per share redeemed under our SRP will equal the lesser of: (i) the current estimated share value pursuant to our valuation policy and (ii) the Original Share Price less any Special Distributions. A quarterly funding limit has been established of $7 million per quarter (which our board of directors may increase or decrease from time to time). Redemptions are also limited by our charter to no more than 5% of the weighted average of shares outstanding during the preceding twelve months immediately prior to the date of redemption.

During 2013, we redeemed approximately 2.5 million common shares at an average price of $9.24 per share for $22.9 million, and we fulfilled all Exceptional Redemption requests properly submitted in accordance with the terms of the SRP. As of December 31, 2013, there were unfulfilled Ordinary Redemption requests of approximately 2.6 million common shares, for approximately $22.6 million based on the SRP purchase price as of December 31, 2013.

Transition_to_SelfManagement

Transition to Self-Management	12 Months Ended
	Dec. 31, 2013
Transition to Self-Management [Abstract]	'
Transition to Self-Management	'
	Transition to Self-Management

	On July 31, 2013 (the “Initial Closing”), we entered into a series of agreements and amendments to our existing agreements and arrangements with Behringer, beginning the process of becoming self-managed and setting forth various terms of and conditions to the modification of the business relationships between us and Behringer. We collectively refer to these agreements as the “Self-Management Transition Agreements.” With the entry into these transactions and the progression to self-management, over time, the Company expects to incur higher direct costs related to compensation and other administration and less reliance on and cost related to related party management agreements.

	In connection with our transition to self-management, on August 1, 2013, we hired five executives who were previously employees of Behringer and began hiring other employees. The completion of the remainder of the self-management transactions will occur at a second closing (the “Self-Management Closing”), which is expected to occur on June 30, 2014, and where we anticipate hiring additional corporate and property management employees who are currently employees of Behringer. We also expect to hire other employees as we complete our transition to self-management. The obligations of the parties to consummate the self-management transactions are subject to certain limited conditions.

	As discussed in Note 12, “Stockholders’ Equity,” we issued 10,000 shares of Series A Preferred Stock to Behringer at the Initial Closing. As part of the consideration for issuing the Series A Preferred Stock, Behringer surrendered all existing 1,000 convertible shares of non-participating, non-voting stock, par value $0.0001 per share, of the Company, which we immediately canceled.

	As discussed in Note 4, “Business Combinations”, at the Initial Closing, we acquired from Behringer the GP Master Interest in the PGGM Co-Investment Partner. The purchase price for the GP Master Interest was $23.1 million. This acquisition entitles us to a 1% ownership interest and a promoted interest in the cash flows of the Master Partnership and the advisory and incentive fees specified in the PGGM Co-Investment Partner agreements that Behringer would have otherwise been entitled to receive.

	At the Initial Closing, we also paid Behringer $2.5 million as reimbursement for its costs and expenses related to the negotiation of the Self-Management Transition Agreements. These expenses are in addition to the expenses that we have incurred on our own behalf for legal and financial advisors in connection with this transaction, which were approximately $1.1 million.

	Commencing at the Initial Closing and lasting through the six month anniversary of the Self-Management Closing, Behringer will be entitled to additional fees with respect to any new investment arrangements between us and certain specified funds or programs pursuant to which we receive an asset management or any similar fee and/or a promote interest or similar security, excluding PGGM (each, a “New Platform”). For each New Platform with certain specified potential future investors, Behringer will be entitled to a fee equal to 2.5% of the total aggregate amount of capital committed by such investor or its affiliates. We will not be obligated to pay any fees with respect to a New Platform unless and until the Self-Management Closing occurs. For the year ended December 31, 2013, no New Platform fees were incurred.

	Commencing at the Initial Closing, the Self-Management Transition Agreements provide that in certain circumstances, Behringer will rebate to us, or may provide us a credit with respect to, (a) acquisition fees paid pursuant to the amended and restated advisory management agreement and (b) acquisition fees and development fees paid pursuant to the Self-Management Transition Agreements, in the event that certain existing investments are subsequently structured as a joint venture or co-investment. As of December 31, 2013, $3.2 million of credits were due to us, of which $1.4 million was paid. The remaining unpaid amounts of $1.8 million are recorded as a receivable in other assets and were collected in full subsequent to December 31, 2013.

	During the period from the Initial Closing through September 30, 2014, Behringer will provide general transition services in support of our transition to self-management. For these services we will pay Behringer (a) the sum of approximately $0.4 million per month during the period beginning on the Initial Closing and ending on September 30, 2014 and (b) an amount equal to $1.25 million at the Self-Management Closing. For the year ended December 31, 2013, $2.1 million was incurred and paid.

	Upon the Self-Management Closing, we anticipate hiring additional corporate and property management employees who are currently employees of Behringer. From now through the Self-Management Closing, Behringer will continue to be paid fees and reimbursements under the terms of amended advisory and property management agreements that include a reduction of certain fees and expenses paid to Behringer under the prior agreements, which are described in Note 16, “Related Party Arrangements.” Regarding asset management fees and property management expense reimbursements, we will receive a monthly reduction of approximately $150,000 and $50,000, respectively, from the amount that otherwise would have been payable, through June 30, 2014.

	At the Self-Management Closing, we will pay Behringer $3.5 million for certain intangible assets, rights and contracts. Behringer will also transfer to us certain furnishings, fixtures and equipment.

	From the Initial Closing and through and following the Self-Management Closing, certain fees generally similar to fees under the amended and restated advisory management agreement as described in Note 16, “Related Party Arrangements” will be due with respect to acquisitions, financing and asset management. Regarding acquisition and advisory fees, we will pay the Advisor a fee (1) at the current rate of 1.75% of the defined costs for acquisitions that were identified and agreed to as of the Initial Closing and (2) at a rate of 1.575% of the defined costs for other acquisitions generally through the Self-Management Closing, but which may also include acquisitions approved prior to the Self-Management Closing that have closed within six months following the Self-Management Closing. The non-accountable acquisition expense reimbursement of 0.25% was not changed. Regarding debt financing fees, debt financings projected and identified as of the Initial Closing will continue to incur fees based on our pro rata share of the debt at a rate of 1% and other debt financings will incur fees at a rate of 0.9%. In addition, we will reimburse the Advisor for third party financing fees paid on our behalf which were previously included in the debt financing fee. After the Self-Management Closing, the Advisor will provide the debt financing services through June 30, 2015.

	Behringer will also provide shareholder services for an initial two year term, commencing on the Self-Management Closing at a cost to us based on the then monthly number of stockholder accounts. We estimate the monthly amount based on current stockholder accounts to be approximately $0.1 million. The monthly number of stockholder accounts is subject to adjustments based on future activity related to our DRIP and SRP. In addition, we may pay approximately $0.3 million over the term of the agreement with Behringer for a limited right to use certain office space. We may also contract with Behringer for additional services.

	In addition to the above transactions, the Company incurred other expenses related to our transition to self-management, primarily related to Special Committee and Company legal and financial advisors and general transition services (primarily staffing, information technology and facilities). The components of our transition expenses are as follows (in millions):


		For the Year Ended December 31, 2013
	Special Committee and Company legal and financial advisors	$	0.7

	General transition services:
	Behringer	7.9

	Other service providers	0.4

	Total transition expenses	$	9


	As of December 31, 2013, $5.7 million of the transition costs was an accrued liability to Behringer. We incurred no transition expenses in 2012 or 2011.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
Commitments and Contingencies	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies	'
	Commitments and Contingencies

	All of our Co-Investment Ventures include buy/sell provisions. Under most of these provisions and during specific periods, a partner could make an offer to purchase the interest of the other partner and that partner would have the option to accept the offer or purchase the offering partner’s interest at that price. As of December 31, 2013, no such buy/sell offers are outstanding.

	In the ordinary course of business, the multifamily communities in which we have investments may have commitments to provide affordable housing. Under these arrangements, we generally receive from the resident a below market rent, which is determined by a local or national authority. In certain arrangements, a local or national housing authority makes payments covering some or substantially all of the difference between the restricted rent paid by residents and market rents. In connection with our acquisition of The Gallery at NoHo Commons, we assumed an obligation to provide affordable housing through 2048. As partial reimbursement for this obligation, the California housing authority will make level annual payments of approximately $2.0 million through 2028 and no reimbursement for the remaining 20-year period. We may also be required to reimburse the California housing authority if certain operating results are achieved on a cumulative basis during the term of the agreement. At the acquisition, we recorded a liability of $14.0 million based on the fair value of the terms over the life of the agreement. In addition, we will record rental revenue from the California housing authority on a straight-line basis, deferring a portion of the collections as deferred lease revenues. As of December 31, 2013 and December 31, 2012, we have approximately $17.6 million and $17.5 million, respectively, of carrying value for deferred lease revenues related to The Gallery at NoHo Commons.

	As of December 31, 2013, we have entered into construction and development contracts with $645.1 million remaining to be paid. These construction costs are expected to be paid during the completion of the development and construction period, generally within 24 months.

	See Note 13, “Transition to Self-Management” for discussion of commitments of the Company regarding its transition to self-management which commenced on July 31, 2013.

Fair_Value_of_Derivatives_and_

Fair Value of Derivatives and Financial Instruments	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value of Derivatives and Financial Instruments	'
	Fair Value of Derivatives and Financial Instruments

	Fair value measurements are determined based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, a fair value hierarchy that distinguishes between market participant assumptions based on market data obtained from sources independent of the reporting entity (observable inputs that are classified within Levels 1 and 2 of the hierarchy) and the reporting entity’s own assumptions about market participant assumptions (unobservable inputs classified within Level 3 of the hierarchy) has been established.

	Level 1 inputs utilize quoted prices (unadjusted) in active markets for identical assets and liabilities that we have the ability to access. Level 2 inputs are inputs other than quoted prices included in Level 1 that are observable for the asset or liability, either directly or indirectly. Level 2 inputs may include quoted prices for similar assets and liabilities in active markets, as well as inputs that are observable for the asset or liability (other than quoted prices), such as interest rates and yield curves that are observable at commonly quoted intervals. Level 3 inputs are unobservable inputs for the asset or liability that are typically based on an entity’s own assumptions, as there is little, if any, related market activity. In instances where the determination of the fair value measurement is based on inputs from different levels of the fair value hierarchy, the level in the fair value hierarchy within which the fair value measurement falls is based on the lowest level input that is significant to the fair value measurement in its entirety. Our assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment and considers factors specific to the asset or liability.

	In connection with our measurements of fair value related to many real estate assets, noncontrolling interests, financial instruments and contractual rights, there are generally not available observable market price inputs for substantially the same items. Accordingly, each of these are classified as Level 3, and we make assumptions and use various estimates and pricing models, including, but not limited to, the estimated cash flows, discount and interest rates used to determine present values, market capitalization rates, sales of comparable investments, rental rates, costs to lease properties, useful lives of the assets, the cost of replacing certain assets, and equity valuations. These estimates are from the perspective of market participants and may also be obtained from independent third-party appraisals. However, we are responsible for the source and use of these estimates. A change in these estimates and assumptions could be material to our results of operations and financial condition.

	Financial Instruments Carried at Fair Value on a Recurring Basis

	We currently use interest rate cap arrangements with financial institutions to manage our exposure to interest rate changes for our loans that utilize floating interest rates. The fair value of these interest rate caps are determined using Level 2 inputs as defined above. These inputs include quoted prices for similar interest rate cap arrangements, including consideration of the remaining term, the current yield curve, and interest rate volatility. Because our interest rate caps are on standard, commercial terms with national financial institutions, credit issues are not considered significant. As of December 31, 2013 and December 31, 2012, we have $0.2 million of interest rate caps that are carried at fair value on a recurring basis. See further discussion of these interest rate caps in Note 7, “Other Assets.”

	The following fair value hierarchy table presents information about our assets measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012 (in millions):


			Balance		Level 1				Level 2				Level 3				Fair Value				Gain (Loss) for the
			Sheet														as of				Year Ended
			Location														Reporting Date				December 31,
	Assets

	Interest rate caps		Other assets

	As of December 31, 2013				$	—			$	0.2			$	—			$	0.2			$	—

	As of December 31, 2012				$	—			$	0.3			$	—			$	0.3			$	(0.8	)


	Nonrecurring Basis — Fair Value Adjustments

	For the year ended December 31, 2013, we had no fair value adjustments on a nonrecurring basis.

	As discussed in Note 4, “Business Combinations,” in July 2012, we consolidated the Veritas Property Entity and recognized a gain of $1.7 million related to the revaluation of our equity interest for the difference between our carrying value in the unconsolidated real estate joint venture and the fair value of our ownership interest prior to consolidation. The investment in unconsolidated real estate joint venture was recorded at its fair value on July 31, 2012 based on the fair value of the investment’s underlying assets and liabilities. Fair value of real estate was determined based on market capitalization rates, comparable sales and forecasted operations which include estimates of rental rates, costs to lease, and operating expenses. Fair value of the mortgage loan payable was determined based on market pricing, primarily market interest rates and other market terms as of July 31, 2012. All other assets and liabilities were reviewed to determine their fair value based on applicable market factors. All of these estimates were from the perspective of market participants. The nonrecurring fair value measurement of the investment in unconsolidated real estate joint venture related to the consolidation of the Veritas Property Entity was considered a Level 3 input under the fair value hierarchy.

	The following fair value hierarchy table presents information about our assets measured at fair value on a nonrecurring basis during the year ended December 31, 2012 (in millions):


	For the Year Ended December 31, 2012		Level 1				Level 2				Level 3				Total Fair Value				Gain (Loss)
	Assets
	Investment in unconsolidated real estate joint venture:
	Veritas Property Entity		$	—			$	—			$	24.8			$	24.8			$	1.7


	In April 2011, we consolidated the Waterford Place PGGM CO-JV and recognized a gain of $18.1 million related to the revaluation of our equity interest for the difference between our carrying value in the unconsolidated real estate joint venture and the fair value of our ownership interest prior to consolidation. The nonrecurring fair value measurement of the investment in and advance to unconsolidated real estate joint venture related to the consolidation of Waterford Place PGGM CO-JV was considered a Level 3 input under the fair value hierarchy. The fair value was substantially derived from the terms of the sale agreement, which closed in May 2011.
	In December 2011, we consolidated 23 PGGM CO-JVs and MW CO-JVs and recognized a gain on revaluation of equity on business combinations of $103.8 million. The investments in and advances to unconsolidated real estate joint ventures were recorded at their fair value on December 1, 2011 based primarily on the fair value of the investment's underlying assets and liabilities. Fair value of real estate was determined based on market capitalization rates, comparable sales and forecasted operations which include estimates of rental rates, costs to lease, and operating expenses. Fair value of mortgage loan payables and notes receivable were determined based on market pricing, primarily market interest rates and other market terms as of December 1, 2011. All other assets and liabilities were reviewed to determine their fair value based on applicable market factors. All of these estimates are from the perspective of market participants.
	The following fair value hierarchy table presents information about our assets measured at fair value on a nonrecurring basis during year ended December 31, 2011 (in millions):


	For the Year Ended December 31, 2011		Level 1				Level 2				Level 3				Total				Gain (Loss)
															Fair Value
	Assets
	Investments in and advances to unconsolidated real estate joint ventures:
	Waterford Place PGGM CO-JV		$	—			$	—			$	27.6			$	27.6			$	18.1

	Consolidated PGGM/MW CO-JVs		—				—				389.7				389.7				103.8

			$	—			$	—			$	417.3			$	417.3			$	121.9


	Financial Instruments Not Carried at Fair Value

	Financial instruments held as of December 31, 2013 and December 31, 2012 and not measured at fair value on a recurring basis include cash and cash equivalents, short-term investments, notes receivable, credit facility payable and mortgages and notes payable. With the exception of our mortgages and notes payable, the financial statement carrying amounts of these items approximate their fair values due to their short-term nature. Because the credit facility payable bears interest at a variable rate and has a prepayment option, we believe its carrying amount approximates its fair value.

	Estimated fair values for mortgages and notes payable have been determined using market pricing for similar mortgages payable, which are classified as Level 2 in the fair value hierarchy. Carrying amounts and the related estimated fair value of our mortgages and notes payable as of December 31, 2013 and December 31, 2012 are as follows (in millions):


		December 31, 2013								December 31, 2012
		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
Mortgages and notes payable		$	1,029.10			$	1,015.40			$	979.6			$	991.8

Related_Party_Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Arrangements	'
	Related Party Arrangements

	From our inception to July 31, 2013, we had no employees, were externally managed by the Advisor and were supported by related party service agreements, as further described below. Through July 31, 2013, we exclusively relied on the Advisor and its affiliates to provide certain services and personnel for management and day-to-day operations, including advisory services performed by the Advisor and property management services provided by BHM Management and its affiliates.

	Effective July 31, 2013, we entered into a series of agreements with the Advisor and its affiliates in order to begin our transition to self-management. On August 1, 2013, we hired five executives who were previously employees of the Advisor. See further discussion of the transaction and amounts paid to Behringer in relation to the transition at Note 13, “Transition to Self-Management.”

	Upon the Self-Management Closing, most of the remaining professionals and staff providing advisory and property management services that are currently employed by Behringer will also become our employees. From now through the Self-Management Closing, Behringer will continue to be paid fees and reimbursements under the terms of amended advisory and property management agreements that include a reduction of certain fees and expenses paid to Behringer under the prior agreements as discussed further below. At the Self-Management Closing, the amended advisory and property management agreements will effectively be terminated (with the property management agreement being assigned to us) and except as otherwise noted, our obligation to pay fees and reimbursement costs will cease.

	The Advisor continues to provide us with day-to-day management services pursuant to our advisory management agreement (the “Advisory Management Agreement”), as it has been amended and restated. Our board of directors has a duty to evaluate the performance of our Advisor annually before the parties can agree to renew the agreement. The Advisory Management Agreement will currently expire on June 30, 2014, unless extended or renewed. Below we describe the principal terms of the Advisory Management Agreement.

	Prior to July 31, 2013, the Advisor and its affiliates received acquisition and advisory fees of 1.75%, based on our stated or back-end ownership percentage, of (1) the contract purchase price paid or allocated in respect of the development, construction or improvement of each asset acquired directly by us, including any debt attributable to these assets, or (2) when we make an investment indirectly through another entity, our pro rata share, based on our stated or back-end ownership percentage, of the gross asset value of real estate investments held by that entity. Fees due in connection with a development or improvements are based on amounts approved by our board of directors and reconciled to actual amounts at the completion of the development or improvement. The Advisor and its affiliates also received a fee based on 1.75% of the funds advanced in respect of a loan or other investment. Effective August 1, 2013, the rate of 1.75% remains unchanged for acquisitions that were identified and agreed to as of the Initial Closing. For other acquisitions, the rate is reduced to 1.575% of the defined costs.

	Additionally, the Advisor receives a non-accountable acquisition expense reimbursement in the amount of 0.25% of (1) the funds paid for purchasing an asset, including any debt attributable to the asset, plus the funds budgeted for development, construction or improvement in the case of assets that we acquire and intend to develop, construct or improve, and (2) funds advanced in respect of a loan or other investment. We will also pay third parties, or reimburse the Advisor, for any investment-related expenses due to third parties in the case of a completed investment, including, but not limited to, legal fees and expenses, travel and communication expenses, costs of appraisals, accounting fees and expenses, third-party brokerage or finder’s fees, title insurance, premium expenses and other closing costs. In addition, to the extent our Advisor or its affiliates directly provide services formerly provided or usually provided by third parties, including, without limitation, accounting services related to the preparation of audits required by the SEC, property condition reports, title services, title insurance, insurance brokerage or environmental services related to the preparation of environmental assessments in connection with a completed investment, the direct employee costs and burden to our Advisor of providing these services are acquisition expenses for which we reimburse the Advisor. In addition, acquisition expenses for which we reimburse the Advisor include any payments made to (1) a prospective seller of an asset, (2) an agent of a prospective seller of an asset, or (3) a party that has the right to control the sale of an asset intended for investment by us that are not refundable and that are not ultimately applied against the purchase price for such asset. Except as described above with respect to services customarily or previously provided by third parties, our Advisor is responsible for paying all of the expenses it incurs associated with persons employed by the Advisor to the extent dedicated to making investments for us, such as wages and benefits of the investment personnel. The Advisor is also responsible for paying all of the investment-related expenses that we or our Advisor incur that are due to third parties or related to the additional services provided by the Advisor as described above with respect to investments we do not make, other than certain non-refundable payments made in connection with any acquisition.

	For the years ended December 31, 2013, 2012 and 2011, the Advisor earned acquisition and advisory fees, including the acquisition expense reimbursement and net of credits provided to us per the Self-Management Transition Agreements, of approximately $15.0 million, $7.3 million, and $4.8 million, respectively. We capitalized approximately $13.2 million and $5.0 million, respectively, of such fees to our development projects as construction in progress for the years ended December 31, 2013 and 2012 and capitalized approximately $1.1 million to investments in unconsolidated real estate joint ventures for the year ended December 31, 2011. As of December 31, 2013, acquisition and advisory fees related to 17 developments were subject to final reconciliation to actual amounts as described above.

	Prior to July 31, 2013, the Advisor received debt financing fees of 1% of the amount available to us under debt financing which was originated, assumed or refinanced by or for us. Subsequent to July 31, 2013, the Advisor will continue to receive debt financing fees based on our pro rata share of the debt at a rate of 1% on debt financings identified as of the Initial Closing and other debt financings will incur fees at a rate of 0.9%. For any debt financing other than financing related to our CO-JVs, the Advisor may pay some or all of these fees to third parties with whom it subcontracts to coordinate financing for us. For the years ended December 31, 2013, 2012 and 2011, the Advisor earned debt financing fees of approximately $1.5 million, $1.3 million, and $2.3 million, respectively.

	The Advisor receives a monthly asset management fee for each real estate related asset held by us. The monthly asset management fee is equal to 1/12th of 0.50% of the sum of the higher of the cost of investment or the value of the investment for each and every asset. Prior to July 1, 2013, the Advisor, although under no contractual obligation to do so, waived the difference between asset management fees calculated on the basis of appraised value of our investments and asset management fees calculated on the basis of cost of our investments. Effective July 1, 2013, the Advisor is no longer waiving this difference. Beginning August 1, 2013, we receive a monthly reduction of $150,000 per month from the amount that otherwise would have been paid in asset management fees in recognition of the transfer of the executives to the Company and the associated reduction in the duties of the Advisor.

	For the years ended December 31, 2013, 2012 and 2011, the Advisor earned asset management fees of approximately $7.7 million, $6.6 million, and $6.3 million, respectively.

	We will pay a development fee to our Advisor in an amount that is usual and customary for comparable services rendered to similar projects in the geographic market of the project; provided, however, we will not pay a development fee to an affiliate of our Advisor if our Advisor or any of its affiliates elects to receive an acquisition and advisory fee based on the cost of such development. Our Advisor has earned no development fees since our inception.

	Property management services are provided by BHM Management and its affiliates through a property management agreement (the “Property Management Agreement”) for multifamily communities with respect to which we have control over the selection of the property manager and choose to hire BHM Management. The Property Management Agreement, if not assigned to us on Self-Management Closing, expires on June 30, 2015.

	Property management fees are equal to 3.75% of gross revenues for each community, based on our pro rata ownership of each community. In the event that we contract directly with a non-affiliated third party property manager in respect to a property, we pay BHM Management or its affiliates an oversight fee equal to 0.5% of gross rental revenues of the property managed. In no event will we pay both a property management fee and an oversight fee to BHM Management or its affiliates with respect to a particular property. We reimburse certain costs and expenses incurred by BHM Management on our behalf, including the wages and salaries and other employee-related expenses of all on-site employees of BHM Management and other out-of-pocket expenses that are directly related to the management of specific properties. Beginning August 1, 2013, we receive a monthly reduction of $50,000 per month in property management expense reimbursements.

	For the years ended December 31, 2013, 2012, and 2011, BHM Management or its affiliates earned property management fees, net of expenses to third party property managers but including reimbursements to BHM Management, of $23.4 million, $21.3 million, and $8.5 million, respectively.

	As part of our reimbursement of administrative expenses, we reimburse the Advisor for any direct expenses and costs of salaries and benefits of persons employed by the Advisor performing advisory services for us, provided, however, we will not reimburse the Advisor for personnel and related costs incurred by the Advisor in performing services under the Advisory Management Agreement to the extent that the employees perform services for which the Advisor receives a separate fee other than with respect to acquisition services formerly provided or usually provided by third parties. We also do not reimburse our Advisor for the salary or other compensation of our executive officers who are employed by our Advisor or its affiliates.

	For the years ended December 31, 2013, 2012, and 2011, the Advisor was reimbursed approximately $1.8 million, $1.8 million, and $1.9 million, respectively. As of December 31, 2013 and December 31, 2012, our payables to the Advisor and its affiliates were $1.9 million and $1.4 million, respectively.
	Prior to the termination of our Initial Public Offering on September 2, 2011, we were required to reimburse the Advisor for organization and offering expenses related to our Initial Public Offering of shares (other than pursuant to a distribution reinvestment plan) and any organization and offering expenses previously advanced by the Advisor related to a prior offering of shares to the extent not previously reimbursed by us out of proceeds from the prior offering (“O&O Reimbursement”). Our obligation to reimburse the Advisor was capped at 1.5% of the gross proceeds of the completed Initial Public Offering exclusive of proceeds from the DRIP.
	Behringer Securities LP (“Behringer Securities”), an affiliate of the Advisor, served as the dealer manager for the Initial Public Offering and received selling commissions of up to 7% of gross offering proceeds. Behringer Securities reallowed all selling commissions to participating broker-dealers. In connection with the Initial Public Offering, up to 2.5% of gross proceeds were paid to Behringer Securities as a dealer manager fee. Behringer Securities reallowed a portion of its dealer manager fee to certain broker-dealers that participated in the Initial Public Offering. No selling commissions or dealer manager fees are payable on shares sold under our DRIP, and any DRIP offering expenses are nominal.
	Because our Initial Public Offering terminated on September 2, 2011, we did not sell any shares of common stock in our Initial Public Offering during the years ended December 31, 2013 and 2012. The following presents the components of our sale of common stock, net related to our Initial Public Offering for the year ended December 31, 2011 (amounts in millions):


		For the Year Ended
		December 31, 2011
	Sale of common stock
	Gross proceeds	$	593.8

	Less offering costs:
	O&O reimbursement	0.6

	Dealer manager fees	(14.8		)
	Selling commissions	(40.0		)
	Total offering costs	(54.2		)
	Sale of common stock, net	$	539.6

Supplemental_Disclosures_of_Ca

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]	'
Supplemental Disclosures of Cash Flow Information	'
	Supplemental Disclosures of Cash Flow Information

	Supplemental cash flow information is summarized below (amounts in millions):


		For the Year Ended December 31,
		2013		2012		2011
	Supplemental disclosure of cash flow information:

	Interest paid, net of amounts capitalized of $10.5 million, $2.5 million, and $0.1 million in 2013, 2012, and 2011, respectively	$	25.8	$	32.9	$	10.2

	Non-cash investing and financing activities:

	Acquisition of controlling interests in business combinations with no consideration paid:
	Assets acquired	$	—	$	38.1	$	1,511.60

	Liabilities assumed	$	—	$	37.3	$	746.7

	Noncontrolling interests	$	—	$	1	$	359

	Mortgage payable assumed by purchaser of asset held for sale	$	—	$	15.8	$	58.4

	Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration	$	—	$	2.6	$	—

	Conversion of note receivable into an equity investment	$	4.9	$	5.9	$	4.6

	Assumption of mortgage note payable	$	—	$	—	$	21.5

	Acquisition of a noncontrolling interest	$	9	$	—	$	—

	Funds deposited in escrow related to a development acquisition	$	1.1	$	—	$	—

	Transfer of real estate from construction in progress to operating real estate	$	48.9	$	—	$	—

	Conversion of investment in unconsolidated real estate joint venture into notes receivable	$	9.5	$	—	$	—

	Stock issued pursuant to our DRIP	$	31	$	39.7	$	44.1

	Distributions payable on common stock - regular	$	5	$	4.8	$	8.4

	Construction costs and other related payables	$	43.7	$	12	$	—

Subsequent_Events

Subsequent Events	12 Months Ended
Subsequent Events	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events	'
	Subsequent Events

	We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements and noted no subsequent events that would require an adjustment to the consolidated financial statements or additional disclosures, other than the ones disclosed herein.

	Sale of Multifamily Community

	On February 7, 2014, the Tupelo Alley PGGM CO-JV sold its multifamily community for a sale price of $52.9 million. The purchaser assumed the $19.3 million mortgage note payable. As of December 31, 2013, the net carrying value of the multifamily community is $36.6 million. We received cash of approximately $33.0 million, of which approximately $14.7 million was distributed to the PGGM Co-Investment Partner.

	Distributions Paid

	On January 2, 2014, we paid total distributions of approximately $5.0 million, of which $2.4 million was cash distributions and $2.6 million was funded by issuing shares pursuant to our DRIP, relating to distributions declared each day in the month of December 2013.

	On February 3, 2014, we paid total distributions of approximately $5.0 million, of which $2.4 million was cash distributions and $2.6 million was funded by issuing shares pursuant to our DRIP, relating to distributions declared each day in the month of January 2014.

	On March 3, 2014, we paid total distributions of approximately $4.5 million, of which $2.2 million was cash distributions and $2.3 million was funded by issuing shares pursuant to our DRIP, relating to distributions declared each day in the month of February 2014.

Quarterly_Results_unaudited

Quarterly Results (unaudited)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Quarterly Results (unaudited)	'
	Quarterly Results (unaudited)
	Presented below is a summary of the unaudited quarterly consolidated financial information for the years ended December 31, 2013 and 2012 (amounts in thousands, except per share data):


			2013 Quarters Ended (a)
			March 31			June 30			September 30			December 31
	Rental revenues		$	45,744		$	46,722		$	48,412		$	49,746

	Income (loss) from continuing operations		$	(1,241	)	$	(180	)	$	(14,114	)	$	(1,869	)
	Net income (loss) attributable to common stockholders		$	4,444		$	26,799		$	(460	)	$	(1,091	)

	Basic and diluted weighted average shares outstanding		168,084			168,886			168,881			168,741

	Basic and diluted earnings (loss) per share		$	0.03		$	0.16		$	—		$	(0.01	)



			2012 Quarters Ended (a)
			March 31			June 30			September 30			December 31
	Rental revenues		$	39,865		$	42,062		$	44,449		$	45,386

	Income (loss) from continuing operations		$	(15,855	)	$	(16,308	)	$	(5,033	)	$	(3,649	)
	Net income (loss) attributable to common stockholders		$	4,445		$	(11,269	)	$	(3,921	)	$	(1,769	)

	Basic and diluted weighted average shares outstanding		164,453			165,571			166,417			167,257

	Basic and diluted earnings (loss) per share		$	0.03		$	(0.07	)	$	(0.02	)	$	(0.01	)



	(a)	Operating properties which have been disposed of have been reclassified to discontinued operations for all periods presented.

Valuation_and_Qualifying_Accou

Valuation and Qualifying Accounts Schedule II	12 Months Ended
	Dec. 31, 2013
Valuation and Qualifying Accounts [Abstract]	'
Valuation and Qualifying Accounts Schedule II	'
	Behringer Harvard Multifamily REIT I, Inc.
	Valuation and Qualifying Accounts
	Schedule II
	December 31, 2013
	(in thousands)




	Allowance for Doubtful Accounts	Balance at		Charged to		Charged to		Deductions		Balance at
		Beginning		Costs and		Other				End
		of Year		Expenses		Accounts				of Year
	For the year ended December 31, 2013	$	193	$	492	$	—	$	583	$	102

	For the year ended December 31, 2012	$	184	$	691	$	—	$	682	$	193

	For the year ended December 31, 2011	$	152	$	368	$	—	$	336	$	184

Real_Estate_and_Accumulated_De

Real Estate and Accumulated Depreciation Schedule III	12 Months Ended
	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]	'
Real Estate and Accumulated Depreciation Schedule III	'
	Behringer Harvard Multifamily REIT I, Inc.
	Real Estate and Accumulated Depreciation
	Schedule III
	December 31, 2013
	(in thousands)


					Initial Cost								Costs				Gross
													Subsequent				Amount
													to Acquisition/				Carried at
	Property Name		Location		Land				Buildings and				Construction				December 31, 2013			Accumulated Depreciation (a)			Year of		Encumbrances(b)
									Improvements														Completion/
																							Acquisition
	4550 Cherry Creek(c)		Denver, CO		$	7,910			$	70,184			$	479			$	78,573		$	7,123		2004/2011		$	28,600

	55 Hundred(c)		Arlington, VA		13,196				67,515				38				80,749			6,661			2010/2011		41,750

	7166 at Belmar(c)		Lakewood, CO		3,385				52,298				1,252				56,935			5,179			2008/2011		22,825

	Acacia on Santa Rosa Creek		Santa Rosa, CA		8,100				29,512				1,128				38,740			5,643			2003/2010		29,000

	Acappella		San Bruno, CA		8,000				46,973				274				55,247			6,945			2010/2010		30,250

	Allegro (d)		Addison, TX		3,900				55,355				1,143				60,398			6,014			2013/2010		24,000

	Argenta		San Francisco, CA		11,100				81,624				1,173				93,897			9,306			2008/2011		51,000

	Bailey's Crossing(c)		Alexandria, VA		22,214				108,145				447				130,806			10,668			2010/2011		76,000

	Briar Forest Lofts(c)		Houston, TX		4,623				40,155				181				44,959			4,031			2008/2011		20,916

	Burnham Pointe		Chicago, IL		10,400				75,960				1,739				88,099			9,150			2008/2010		4,594

	Burrough's Mill(c)		Cherry Hill, NJ		10,075				51,869				333				62,277			5,923			2004/2011		25,234

	Calypso Apartments and Lofts(c)		Irvine, CA		13,902				42,730				197				56,829			4,253			2008/2011		24,000

	The Cameron(c)		Silver Spring, MD		25,191				77,737				277				103,205			7,414			2010/2011		65,453

	The District Universal Boulevard(c)		Orlando, FL		5,161				57,448				604				63,213			5,588			2009/2011		37,500

	Eclipse(c)		Houston, TX		6,927				44,078				235				51,240			4,744			2009/2011		20,762

	Fitzhugh Urban Flats(c)		Dallas, TX		9,394				48,884				363				58,641			5,120			2009/2011		27,848

	Forty55 Lofts(c)		Marina del Rey, CA		11,382				68,966				225				80,573			6,890			2010/2011		25,500

	The Franklin Delray		Delray Beach, FL		9,065				24,229				—				33,294			248			2013/2013		—

	The Gallery at NoHo Commons		Los Angeles, CA		28,700				78,309				1,556				108,565			15,567			2008/2009		51,300

	Grand Reserve		Dallas, TX		2,980				29,231				(843		)		31,368			2,313			2009/2012		21,000

	The Lofts at Park Crest		McLean, VA		—				49,737				218				49,955			8,035			2008/2011		45,316

	Pembroke Woods		Pembroke, MA		11,520				29,807				899				42,226			2,279			2006/2012		—

	Renaissance - Phase I(c)		Concord, CA		5,786				33,660				647				40,093			3,122			2008/2011		—

	The Reserve at LaVista Walk		Atlanta, GA		4,530				34,159				784				39,473			5,106			2008/2010		2,058

	San Sebastian(c)		Laguna Woods, CA		7,841				29,037				95				36,973			3,433			2010/2011		21,000

Satori(c)		Fort Lauderdale, FL		8,223				75,126				311				83,660			7,610			2010/2011		51,000

Skye 2905(c)		Denver, CO		13,831				87,491				(253		)		101,069			8,329			2010/2011		56,100

Stone Gate		Marlborough, MA		8,300				54,634				1,307				64,241			6,324			2007/2011		35,443

Tupelo Alley(c)		Portland, OR		6,348				33,317				180				39,845			3,293			2009/2011		19,250

Uptown Post Oak		Houston, TX		23,340				40,010				864				64,214			6,713			2008/2010		3,348

Vara		San Francisco, CA		20,200				88,500				149				108,849			1,643			2013/2013		57,000

The Venue(c)		Clark County, NV		1,520				24,249				162				25,931			2,504			2009/2011		10,500

Veritas(c)		Henderson, NV		4,950				55,607				138				60,695			4,170			2011/2012		36,437

West Village		Mansfield, MA		5,301				30,068				546				35,915			3,707			2008/2011		20,742

				$	337,295			$	1,816,604			$	16,848			$	2,170,747		$	195,048				$	985,726

____________________________________________________________________________


(a)	Each of our properties has a depreciable life of 25 to 35 years. Improvements have depreciable lives ranging from 3 to 15 years.

(b)	Encumbrances include mortgages and notes payable and our credit facility which had an outstanding balance of $10.0 million as of December 31, 2013. The credit facility is collateralized by the following properties: Burnham Pointe, The Reserve at La Vista Walk and Uptown Post Oak. The credit facility balance was allocated to each property based upon its relative gross real estate amount carried at December 31, 2013. Encumbrances related to mortgage loans excludes the $6.7 million of unamortized adjustment from business combinations as of December 31, 2013.

(c)	Property is owned through a Co-Investment Venture. Initial cost is the cost recorded at time of consolidation. Year acquired is the year the property was consolidated.

(d)	During 2013, we completed development of the second phase of Allegro which added an additional 121 units. The property was initially completed in 2010.

A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2013, 2012 and 2011 is as follows (in thousands):


		For the Year Ended
		December 31,
		2013				2012				2011
Real Estate:
Balance at beginning of year		$	2,177,429			$	2,066,099			$	537,026

Additions:
Acquisitions and/or consolidation of joint ventures		163,401				140,069				1,637,647

Deductions:
Sale of real estate property		(170,083		)		(28,739		)		(108,574		)
Balance at end of year		$	2,170,747			$	2,177,429			$	2,066,099


Accumulated Depreciation:
Balance at beginning of year		$	123,360			$	42,123			$	13,941

Depreciation expense		85,054				83,909				28,182

Deductions		(13,366		)		(2,672		)		—

Balance at end of year		$	195,048			$	123,360			$	42,123

Mortgage_Loans_on_Real_Estate_

Mortgage Loans on Real Estate Schedule IV	12 Months Ended
Mortgage Loans on Real Estate Schedule IV	Dec. 31, 2013
Mortgage Loans on Real Estate [Abstract]	'
Mortgage Loans on Real Estate Schedule IV	'
	Mortgage Loans on Real Estate
	Schedule IV
	December 31, 2013
	(in thousands)



	Description		Interest			Maturity	Periodic Payment Terms	Prior	Face Amount		Carrying		Principal Amount of Loans Subject to Delinquent Principal or Interest
	Description		Rate			Date	Periodic Payment Terms	Liens	of Note		Amount of Note(a)
	Mezzanine note		14.5	%		Dec-15	Principal and interest at maturity	N/A	$	22,712	$	22,587	$	—
	Mezzanine note		14.5	%		Dec-15	Principal and interest at maturity	N/A	$	22,712	$	22,587	$	—
	Mezzanine note		15	%		Jan-16	Principal and interest at maturity	N/A	12,300		12,302		—
	Mezzanine note		15	%		Jan-16	Principal and interest at maturity	N/A	12,300		12,302		—
	Mezzanine note		14.5	%		Aug-15	Principal and interest at maturity	N/A	9,000		9,000		—
	Mezzanine note		14.5	%		Aug-15	Principal and interest at maturity	N/A	9,000		9,000		—
	Mezzanine note		15	%		Sep-16	Principal and interest at maturity	N/A	14,989		8,922		—
	Mezzanine note		15	%		Sep-16	Principal and interest at maturity	N/A	14,989		8,922		—
									$	59,001	$	52,811	$	—
									$	59,001	$	52,811	$	—
	____________________________________________________________________________

	(a)	Differences between the face amount and the carrying amount of the notes are unfunded commitments under the mezzanine loans and discounts recorded in connection with the business combination and capitalized acquisition costs, including unearned fee income.



	Reconciliation of the Carrying Amount of Mortgage Loans (in thousands):
	Balance at January 1, 2011		$	2,633
	Balance at January 1, 2011		$	2,633
	Additions during 2011:
	New notes receivable		22,148
	New notes receivable		22,148
	Mortgage loan from business combination		3,000
	Mortgage loan from business combination		3,000
	Accrued interest		333
	Accrued interest		333
	Capitalized acquisition costs		384
	Capitalized acquisition costs		384
	Deductions during 2011:
	Note receivable converted into equity investment		(3,960		)
	Amortization of acquisition costs		(187		)
	Balance at December 31, 2011		24,351
	Balance at December 31, 2011		24,351
	Additions during 2012:
	New notes receivable, including advances under mezzanine loans		37,789
			37,789
	Capitalized acquisition costs, net of unearned fee income		(61		)
	Deductions during 2012:
	Note receivable converted into equity investment		(5,926		)
	Collections of principal and loan payoffs		(19,760		)
	Amortization of acquisition costs and fee income		(353		)
	Balance at December 31, 2012		36,040
	Balance at December 31, 2012		36,040
	Additions during 2013:
	Additions during 2013:
	New notes receivable, including advances under mezzanine loans		40,078
			40,078
	Capitalized acquisition costs, net of unearned fee income		(31		)
	Deductions during 2013:
	Note receivable converted into equity investment		(4,880		)
	Collections of principal and loan payoffs		(18,425		)
	Amortization of acquisition costs and fee income		29
	Amortization of acquisition costs and fee income		29
	Balance at December 31, 2013		$	52,811
	Balance at December 31, 2013		$	52,811


*****

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
Summary of Significant Accounting Policies (Policies)	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Presentation	'
	Basis of Presentation

	The accompanying consolidated financial statements include our consolidated accounts and the accounts of our wholly owned subsidiaries. We also consolidate other entities in which we have a controlling financial interest or other entities (referred to as variable interest entities or “VIEs”) where we are determined to be the primary beneficiary. VIEs are generally entities that lack sufficient equity to finance their activities without additional financial support from other parties or whose equity holders lack adequate decision making ability. The primary beneficiary is required to consolidate a VIE for financial reporting purposes. The determination of the primary beneficiary requires management to make significant estimates and judgments about our rights, obligations, and economic interests in such entities as well as the same of the other owners. See Note 6, “Variable Interest Entities” for further information about our VIEs. For entities in which we have less than a controlling financial interest or entities with respect to which we are not deemed to be the primary beneficiary, the entities are accounted for using the equity method of accounting. Accordingly, our share of the net earnings or losses of these entities is included in consolidated net income. See Note 7, “Other Assets” for further information on our unconsolidated investment. All inter-company accounts and transactions have been eliminated in consolidation.
Real Estate and Other Related Intangibles	'
	Real Estate and Other Related Intangibles

	Acquisitions

	For real estate properties acquired by us or our Co-Investment Ventures classified as business combinations, we determine the purchase price, after adjusting for contingent consideration and settlement of any pre-existing relationships. We record the acquired assets and liabilities based on their fair values, including tangible assets (consisting of land, any associated rights, buildings and improvements), identified intangible assets and liabilities, asset retirement obligations, assumed debt, other liabilities and noncontrolling interests. Identified intangible assets and liabilities primarily consist of the fair value of in-place leases and contractual rights. Goodwill is recognized as of the acquisition date and measured as the aggregate fair value of the consideration transferred and any noncontrolling interest in the acquiree over the fair value of identifiable net assets acquired. Likewise, a bargain purchase gain is recognized in current earnings when the aggregate fair value of the consideration transferred and any noncontrolling interest in the acquiree are less than the fair value of the identifiable net assets acquired.

	The fair value of any tangible real estate assets acquired is determined by valuing the property as if it were vacant, and the “as-if-vacant” value is then allocated to land, buildings and improvements. Land values are derived from appraisals, and building values are calculated as replacement cost less depreciation or estimates of the relative fair value of these assets using discounted cash flow analyses or similar methods. When we acquire rights to use land or improvements through contractual rights rather than fee simple interests, we determine the value of the use of these assets based on the relative fair value of the assets after considering the contractual rights and the fair value of similar assets. Assets acquired under these contractual rights are classified as intangibles and amortized on a straight-line basis over the shorter of the contractual term or the estimated useful life of the asset. Contractual rights related to land or air rights that are substantively separated from depreciating assets are amortized over the life of the contractual term or, if no term is provided, are classified as indefinite-lived intangibles. Intangible assets are evaluated at each reporting period to determine whether the indefinite and finite useful lives are appropriate.

	We determine the value of in-place lease values and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant by applying a fair value model. The estimates of fair value of in-place leases include an estimate of carrying costs during the expected lease up periods for the respective leasable area considering current market conditions. In estimating fair value of in-place leases, we consider items such as real estate taxes, insurance, leasing commissions, tenant improvements and other operating expenses to execute similar deals as well as projected rental revenue and carrying costs during the expected lease up period. The estimate of the fair value of tenant relationships also includes our estimate of the likelihood of renewal. We amortize the value of in-place leases acquired to expense over the remaining term of the leases. The value of tenant relationship intangibles will be amortized to expense over the initial term and any anticipated renewal periods, but in no event will the amortization period for intangible assets exceed the remaining depreciable life of the building. The in-place leases are amortized over the remaining term of the in-place leases, approximately a six month term for multifamily in-place leases and terms ranging from three to 20 years for retail in-place leases.

	We determine the value of above-market and below-market in-place leases for acquired properties based on the present value (using an interest rate that reflects the risks associated with the leases acquired) of the difference between (1) the contractual amounts to be paid pursuant to the in-place leases and (2) estimates of current market lease rates for the corresponding in-place leases, measured over a period equal to (i) the remaining non-cancelable lease term for above-market leases, or (ii) the remaining non-cancelable lease term plus any fixed rate renewal options for below-market leases. We record the fair value of above-market and below-market leases as intangible assets or intangible liabilities, respectively, and amortize them as an adjustment to rental income over the above determined lease term. Given the short-term nature of multifamily leases, the value of above-market or below-market in-place leases are generally not material.

	We determine the value of other contractual rights based on our evaluation of the specific characteristics of the underlying contracts and by applying a fair value model to the projected cash flows or usage rights that considers the timing and risks associated with the cash flows or usage. We amortize the value of finite contractual rights over the remaining contract period. Indefinite-lived contractual rights are not amortized but are evaluated for impairment.

	We determine the fair value of assumed debt by calculating the net present value of the scheduled debt service payments using interest rates for debt with similar terms and remaining maturities that management believes we could obtain. Any difference between the fair value and stated value of the assumed debt is recorded as a discount or premium and amortized over the remaining life of the loan.

	Initial valuations are subject to change until our information is finalized, which is no later than 12 months from the acquisition date. We have had no significant valuation changes for acquisitions prior to December 31, 2013.

	Developments

	We capitalize project costs related to the development and construction of real estate (including interest, property taxes, insurance, and other direct costs associated with the development) as a cost of the development. Indirect project costs, not clearly related to development and construction, are expensed as incurred. Indirect project costs that clearly relate to development and construction are capitalized and allocated to the developments to which they relate. For each development, capitalization begins when we determine that the development is probable and significant development activities are underway. We suspend capitalization at such time as significant development activity ceases, but future development is still probable. We cease capitalization when the developments or other improvements, including any portion, are completed and ready for their intended use, or if the intended use changes such that capitalization is no longer appropriate. Developments or improvements are generally considered ready for intended use when the certificates of occupancy have been issued and the units become ready for occupancy.

	For the years ended December 31, 2013, 2012, and 2011, we capitalized interest of $10.5 million, $2.5 million, and $0.1 million, respectively.

	Depreciation

	Buildings are depreciated over their estimated useful lives ranging from 25 to 35 years using the straight-line method. Improvements are depreciated over their estimated useful lives ranging from 3 to 15 years using the straight-line method. Properties classified as held for sale are not depreciated. Depreciation of developments begins when the development is substantially completed and ready for its intended use.

	Repairs and Maintenance

	Expenditures for ordinary repairs and maintenance costs are charged to expense as incurred.
Investment in Unconsolidated Real Estate Joint Venture	'
	Investment in Unconsolidated Real Estate Joint Venture

	We and our Co-Investment Ventures account for investments in unconsolidated real estate joint ventures using the equity method of accounting because we exercise significant influence over, but do not control, these entities. These investments are initially recorded at cost, including any acquisition costs, and are adjusted for our share of equity in earnings and distributions. We report our share of income and losses based on our economic interests in the entities.

	We capitalize interest expense to investments in unconsolidated real estate joint ventures for our share of qualified expenditures during their development phase.

	We amortize any excess of the carrying value of our investments in joint ventures over the book value of the underlying equity over the estimated useful lives of the underlying operating property, which represents the assets to which the excess is most clearly related.

	When we or our Co-Investment Ventures acquire a controlling interest in a previously noncontrolled investment, a gain or loss on revaluation of equity is recognized for the differences between the investment’s carrying value and fair value.
Impairment of Real Estate Related Assets and Investments in Unconsolidated Real Estate Joint Ventures	'
	Impairment of Real Estate Related Assets and Investments in Unconsolidated Real Estate Joint Ventures

	If events or circumstances indicate that the carrying amount of the property may not be recoverable, we make an assessment of the property’s recoverability by comparing the carrying amount of the asset to our estimate of the undiscounted future operating cash flows expected to be generated over the holding period of the asset including its eventual disposition. If the carrying amount exceeds the aggregate undiscounted future operating cash flows, we recognize an impairment loss to the extent the carrying amount exceeds the estimated fair value of the property. In addition, we evaluate indefinite-lived intangible assets for possible impairment at least annually by comparing the fair values with the carrying values. The fair value of intangibles is generally estimated by valuation of similar assets.

	For real estate we own through an investment in an unconsolidated real estate joint venture or other similar real estate investment structure, at each reporting date we compare the estimated fair value of our real estate investment to the carrying value. An impairment charge is recorded to the extent the fair value of our real estate investment is less than the carrying amount and the decline in value is determined to be other than a temporary decline.
Assets Held for Sale and Discontinued Operations	'
	Assets Held for Sale and Discontinued Operations

	Assuming we have no involvement after the sale of a multifamily community, the sale is considered a discontinued operation. In addition, multifamily communities classified as held for sale are also considered discontinued operations. We generally consider assets to be held for sale when all significant contingencies surrounding the closing have been resolved, which generally corresponds with the actual closing date. Multifamily communities held for sale are reported at the lower of their carrying value or their estimated fair value less costs to sell.
Cash and Cash Equivalents	'
	Cash and Cash Equivalents

	We consider investments in bank deposits, money market funds and highly-liquid cash investments with original maturities of three months or less to be cash equivalents.

	As of December 31, 2013 and December 31, 2012, cash and cash equivalents include $25.6 million and $19.0 million, respectively, held by individual Co-Investment Ventures that are available only for use in the business of the related Co-Investment Venture. Cash held by individual Co-Investment Ventures is not restricted to specific uses within those entities. However, the terms of the joint venture agreements limit the ability to distribute those funds to us or use them for our general corporate purposes. Cash held by individual Co-Investment Ventures is distributed from time to time to the Company and to the other Co-Investment Venture partners in accordance with the applicable Co-Investment Venture governing agreement, which may not be the same as the stated effective ownership interest. Cash distributions received by the Company from the individual Co-Investment Ventures are then available for our general corporate purposes.
Noncontrolling Interests	'
	Noncontrolling Interests

	Redeemable noncontrolling interests are comprised of our consolidated Co-Investment Venture partners’ interests in multifamily communities where we believe it is probable that we will be required to purchase the partner’s noncontrolling interest. We record obligations under the redeemable noncontrolling interest initially at the higher of (a) fair value, increased or decreased for the noncontrolling interest’s share of net income or loss and equity contributions and distributions or (b) the redemption value. The redeemable noncontrolling interests are temporary equity not within our control, and presented in our consolidated balance sheet outside of permanent equity between debt and equity. The determination of the redeemable classification requires analysis of contractual provisions and judgments of redemption probabilities.

	Non-redeemable noncontrolling interests are comprised of our consolidated Co-Investment Venture partners’ interests in multifamily communities as well as Class A, preferred cumulative, non-voting membership units (“Preferred Units”) issued by subsidiary REITs. We record these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss or equity contributions and distributions. These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity.

	Income and losses are allocated to the noncontrolling interest holder based on its economic interests.

	Transactions involving a partial sale or acquisition of a noncontrolling interest that does not result in a change of control are recorded at carrying value with no recognition of gain or loss. Any differences between the cash received or paid (net of any expenses) and the change in noncontrolling interest is recorded as a direct charge to additional paid-in capital. Transactions involving a partial sale or acquisition of a controlling interest resulting in a change in control are recorded at fair value with recognition of a gain or loss.
Other Assets	'
	Other Assets

	Other assets primarily include deferred financing costs, notes receivable, equity method investments, accounts receivable, restricted cash, interest rate caps, prepaid assets and deposits. Deferred financing costs are recorded at cost and are amortized using a straight-line method that approximates the effective interest method over the life of the related debt. We evaluate whether notes receivable are loans, investments in joint ventures or acquisitions of real estate based on a review of any rights to participate in expected residual profits and other equity and loan characteristics. As of and for the years ended December 31, 2013 and 2012, all of our notes receivable were appropriately accounted for as loans. We account for our derivative financial instruments, all of which are interest rate caps, at fair value. We use interest rate cap arrangements to manage our exposure to interest rate changes. We have not designated any of these derivatives as hedges for accounting purposes, and accordingly, changes in fair value are recognized in earnings.
Revenue Recognition	'
	Revenue Recognition

	Rental income related to leases is recognized on an accrual basis when due from residents or commercial tenants, generally on a monthly basis. Rental revenues for leases with uneven payments and terms greater than one year are recognized on a straight-line basis over the term of the lease. Any deferred revenue is classified as a liability on the consolidated balance sheet and recognized on a straight-line basis as income over its contractual term.

	Interest income is generated primarily on notes receivable and cash balances. Interest income is recorded on an accrual basis as earned.
Acquisition Costs	'
	Acquisition Costs

	Acquisition costs for business combinations, which are expected to include most consolidated property acquisitions other than land acquisitions, are expensed when it is probable that the transaction will be accounted for as a business combination and the purchase will be consummated. Our acquisition costs related to investments in unconsolidated real estate joint ventures are capitalized as a part of our basis in the investment. Acquisition costs related to unimproved or non-operating land, primarily related to developments, are capitalized. Pursuant to our Advisory Management Agreement (as defined below), our Advisor is obligated to reimburse us for all investment-related expenses that the Company pursues but ultimately does not consummate. Prior to the determination of its status, amounts incurred are recorded in other assets. Acquisition costs and expenses include amounts incurred with our Advisor and with third parties.
Transition Expenses	'
	Transition Expenses

	Transition expenses include expenses related to our transition to self-management, primarily including legal, financial advisors, consultants, costs of the Company’s special committee of the board of directors, comprised of all of the Company’s independent directors (the “Special Committee”), general transition services (primarily related to staffing, information technology and facilities) and payments to the Advisor and its affiliates (collectively “Behringer”) in connection with the transition to self-management discussed further in Note 13, “Transition to Self-Management.”
Redemptions of Common Stock	'
	Redemptions of Common Stock

	We account for the possible redemption of our shares by classifying securities that are convertible for cash at the option of the holder outside of equity. We do not reclassify the shares to be redeemed from equity to a liability until such time as the redemption has been formally approved by our board of directors. The portion of the redeemed common stock in excess of the par value is charged to additional paid-in capital.
Income Taxes	'
	Income Taxes

	We have elected to be taxed as a REIT under Sections 856 through 860 of the Code and have qualified as a REIT since the year ended December 31, 2007. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our REIT taxable income to our stockholders. As a REIT, we generally will not be subject to federal income tax at the corporate level. We are organized and operate in such a manner as to qualify for taxation as a REIT under the Code and intend to continue to operate in such a manner, but no assurance can be given that we will operate in a manner so as to remain qualified as a REIT. Beginning in 2013, taxable income from certain non-REIT activities is managed through a taxable REIT subsidiary (“TRS”) and is subject to applicable federal, state, and local income and margin taxes. We have no significant taxable income associated with our TRS.

	We have evaluated the current and deferred income tax related to state taxes or other operations for which we do not have a REIT exemption, and we have no significant tax liability or benefit as of December 31, 2013 or December 31, 2012.

	The carrying amounts of our assets and liabilities for financial statement purposes differ from our basis for federal income taxes due to tax accounting related to Co-Investment Ventures, fair value accounting for business combinations, straight lining of lease and related agreements and differing depreciation methods. The primary asset and liability balance sheet accounts with differences are real estate, assets and liabilities held for sale, intangibles, other assets, mortgages and notes payable and deferred revenues, primarily lease revenues, net. As a result of these differences, our net federal income tax basis exceeds the carrying value for financial statement purposes as of December 31, 2013 by approximately $54.2 million.

	We recognize the financial statement benefit of an uncertain tax position only after determining that the relevant tax authority would more likely than not sustain the position following an audit.
Concentration of Credit Risk	'
	Concentration of Credit Risk

	We invest our cash and cash equivalents among several banking institutions and money market accounts in an attempt to minimize exposure to any one of these entities. As of December 31, 2013 and December 31, 2012, we had cash and cash equivalents deposited in certain financial institutions in excess of federally-insured levels. We regularly monitor the financial stability of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents.
Earnings per Share	'
	Earnings per Share

	Basic earnings per share is calculated by dividing net income (loss) attributable to common stockholders by the weighted average common shares outstanding during the period. Diluted earnings per share is calculated similarly, except that during periods of income from continuing operations it includes the dilutive effect of the assumed exercise of securities, including the effect of shares issuable under our preferred stock or stock-based incentive plans. During periods of net loss, the assumed exercise of securities is anti-dilutive and is not included in the calculation of earnings per share.

	The Behringer Harvard Multifamily REIT I, Inc. Amended and Restated 2006 Incentive Award Plan (the “Incentive Award Plan”) authorizes the grant of non-qualified and incentive stock options, restricted stock awards, restricted stock units, stock appreciation rights, dividend equivalents and other stock-based awards.
Reportable Segments	'
	Reportable Segments

	Our current business primarily consists of investing in and operating multifamily communities. Substantially all of our consolidated net income (loss) is from investments in real estate properties that we wholly own or own through Co-Investment Ventures, the latter of which may be accounted for under the equity method of accounting. Our management evaluates operating performance on an individual investment level. However, as each of our investments has similar economic characteristics in our consolidated financial statements, the Company is managed on an enterprise-wide basis with one reportable segment.
Use of Estimates in the Preparation of Financial Statements	'
	Use of Estimates in the Preparation of Financial Statements

	The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts included in the financial statements and accompanying notes to consolidated financial statements. These estimates include such items as: the purchase price allocations for real estate and other acquisitions; impairment of long-lived assets, notes receivable and equity-method real estate investments; fair value evaluations; earning recognition of note receivable interest income, noncontrolling interests and equity in earnings of investments in unconsolidated real estate joint ventures; depreciation and amortization; and recognition and timing of transition expenses. Actual results could differ from those estimates.
Reclassifications	'
	Reclassifications

	Certain financial information on the Consolidated Balance Sheet as of December 31, 2012 has been revised to conform to the current year presentation.

Organization_and_Business_Tabl

Organization and Business (Tables)	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Summary of the number of each type of Co-Investment Venture and the entity's effective ownership ranges	'


			December 31, 2013		December 31, 2012
	Co-Investment Structure		Number of Multifamily Communities	Our Effective	Number of Multifamily Communities	Our Effective
				Ownership		Ownership
	PGGM CO-JVs (a)		27	44% to 74%	16	51% to 74%

	MW CO-JVs		14	55%	15	55%

	Developer CO-JVs		4	90% to 100%	8	80% to 100%

	Total		45		39






	(a)	Includes one unconsolidated investment as of December 31, 2013 and 2012. Also, as of December 31, 2013 and 2012, includes Developer Partners in 16 and none multifamily communities, respectively.

Business_Combinations_Tables

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2013
Business Combinations [Abstract]	'
Schedule of amounts recognized for major assets acquired and liabilities assumed, including a reconciliation to cash consideration as of the business combination date	'
	The amounts recognized for major assets acquired and liabilities assumed, including a reconciliation to cash consideration as of the business combination date are as follows (in millions):


		2013 Acquisitions				2012 Acquisitions
	Land	$	20.2			$	19.5

	Buildings and improvements	88.5				113.7

	Cash acquired	0.6				1.5

	Intangibles (a)	9.2				2.9

	Investment in unconsolidated real estate joint venture	6.4				—

	Other assets	0.1				0.3

	Mortgage loans payable	—				(37.1		)

	Accrued liabilities	(0.9		)		(1.3		)
	Noncontrolling interest	(6.8		)		(1.0		)
	Other consideration (b)	—				(5.9		)

	Net assets	117.3				92.6

	Other consolidation/elimination adjustments:
	Investment in unconsolidated real estate joint venture	—				(22.4		)

	Gain on revaluation of equity for a business combination	—				(1.7		)

	Cash consideration	$	117.3			$	68.5






	(a)	The intangibles for the 2013 acquisitions are $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts. The intangibles for the 2012 acquisitions are in-place lease intangibles.


	(b)	Other consideration represents the cancellation of the notes receivable in connection with the acquisition of the Grand Reserve multifamily community in 2012.
Schedule of amounts recognized for revenues and net loss attributable to common stockholders from the business combination	'
	Certain operating information for the periods from the business combination dates to December 31, 2013 and 2012 are as follows (in millions):


		For the Periods to December 31, 2013				For the Periods to December 31, 2012
	Rental revenues	$	2.2			$	7.8

	Acquisition expenses	$	3.3			$	2.5

	Depreciation and amortization	$	3.2			$	5.9

	Gain on revaluation of equity on a business combination	$	—			$	1.7

	Net loss attributable to common stockholders	$	(3.1	)		$	(2.7	)
Schedule of unaudited consolidated pro forma information	'
	The information presented below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2012, nor does it purport to represent our future operations (amounts in millions, except per share):


			Pro Forma (unaudited)
			For the Year Ended December 31,
			2013				2012
	Rental revenues		$	190.6			$	176.3

	Depreciation and amortization		$	88.4			$	106.5

	Loss from continuing operations		$	(6.8	)		$	(41.9	)
	Loss from continuing operations per share		$	(0.04	)		$	(0.25	)

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	12 Months Ended
Real Estate Investments (Tables)	Dec. 31, 2013
Real Estate [Abstract]	'
Schedule of major components of real estate investments and intangibles and related accumulated depreciation and amortization	'
	As of December 31, 2013 and December 31, 2012, major components of our real estate investments and intangibles and related accumulated depreciation and amortization were as follows (in millions):


		December 31, 2013												December 31, 2012
		Buildings				Intangibles								Buildings			Intangibles
		and				In-Place				Other				and			In-Place			Other
		Improvements				Leases				Contractual				Improvements			Leases			Contractual
	Cost	$	1,833.40			$	41.9			$	25.6			$	1,849.50		$	43.6		$	16.4
	Cost	$	1,833.40			$	41.9			$	25.6			$	1,849.50		$	43.6		$	16.4
	Less: accumulated depreciation and amortization	(195.0		)		(39.1		)		(2.6		)		(123.4		)	(40.1		)	(0.8		)
	Net	$	1,638.40			$	2.8			$	23			$	1,726.10		$	3.5		$	15.6
	Net	$	1,638.40			$	2.8			$	23			$	1,726.10		$	3.5		$	15.6
Schedule of anticipated amortization associated with in-place lease and other contractual intangibles	'
	Anticipated amortization associated with lease and other contractual intangibles for each of the following five years is as follows (in millions):


		Anticipated Amortization
	Year	of Intangibles
	2014	$	4.2
	2014	$	4.2
	2015	$	2.8
	2015	$	2.8
	2016	$	1.4
	2016	$	1.4
	2017	$	1.4
	2017	$	1.4
	2018	$	0.5
	2018	$	0.5
Schedule of real estate dispositions	'
	The following table presents our sales of real estate for the years ended December 31, 2013, 2012 and 2011 (in millions):


	Date of Sale	Multifamily Community		Sales Contract Price				Net Cash Proceeds				Gain on Sale of Real Estate
	For the Year Ended December 31, 2013
	Sep-13	Grand Reserve Orange		$	35.3			$	34.3			$	12.8
	Sep-13	Grand Reserve Orange		$	35.3			$	34.3			$	12.8
	Jun-13	Halstead		43.5				42.2				11.9
	Jun-13	Halstead		43.5				42.2				11.9
	May-13	Cyan/PDX (“Cyan”)		95.8				95.5				19.2
	May-13	Cyan/PDX (“Cyan”)		95.8				95.5				19.2
	Mar-13	The Reserve at John’s Creek Walk (“Johns Creek”)		37.3				33.3				6.9
	Mar-13	The Reserve at John’s Creek Walk (“Johns Creek”)		37.3				33.3				6.9
		Total		$	211.9			$	205.3			$	50.8
		Total		$	211.9			$	205.3			$	50.8

	For the Year Ended December 31, 2012
	Mar-12	Mariposa Lofts Apartments (“Mariposa”)		$	40			$	23.9			$	13.3
	Mar-12	Mariposa Lofts Apartments (“Mariposa”)		$	40			$	23.9			$	13.3

	For the Year Ended December 31, 2011
	May-11	Waterford Place		$	110			$	50.6			$	—
	May-11	Waterford Place		$	110			$	50.6			$	—
Schedule showing the results of operations and gains on sale of real estate that have been classified as discontinued operations in the accompanying consolidated statements of operations	'
	The table below includes the results of operations and gain on sale of real estate for the multifamily communities that have been classified as discontinued operations in the accompanying consolidated statements of operations for the years ended December 31, 2013, 2012 and 2011 (in millions):


		For the Year Ended
		December 31,
		2013				2012				2011
	Rental revenues	$	8			$	17.8			$	9
	Rental revenues	$	8			$	17.8			$	9

	Expenses
	Expenses
	Property operating expenses	2.5				5.4				2.7
	Property operating expenses	2.5				5.4				2.7
	Real estate taxes	1.1				2.2				1.3
	Real estate taxes	1.1				2.2				1.3
	Interest expense	1				3.1				1.3
	Interest expense	1				3.1				1.3
	Depreciation and amortization	3.3				9.7				3.1
	Depreciation and amortization	3.3				9.7				3.1
	Total expenses	7.9				20.4				8.4
	Total expenses	7.9				20.4				8.4

	Loss on early extinguishment of debt	(0.8		)		—				—
	Loss on early extinguishment of debt	(0.8		)		—				—
	Equity in loss of investments in unconsolidated real estate joint ventures	—				—				(1.0		)
		—				—				(1.0		)

	Loss from discontinued operations	(0.7		)		(2.6		)		(0.4		)
	(Income) loss attributable to noncontrolling interests	(6.9		)		1.7				0.2
	(Income) loss attributable to noncontrolling interests	(6.9		)		1.7				0.2
	Loss from discontinued operations attributable to common stockholders	$	(7.6	)		$	(0.9	)		$	(0.2	)

	Gain on sale of real estate	$	50.8			$	13.3			$	—
	Gain on sale of real estate	$	50.8			$	13.3			$	—

Other_Assets_Tables

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2013
Other Assets [Abstract]	'
Schedule of components of other assets	'
	The components of other assets are as follows (in millions):


			31-Dec-13		December 31,
					2012
	Notes receivable, net (a)		$	52.8	$	36

	Escrows and restricted cash		12.4		10.3

	Deferred financing costs, net		12.1		8.5

	Resident, tenant and other receivables (b)		8.3		6.2

	Prepaid assets, deposits and other assets		7.3		5

	Investment in unconsolidated real estate joint venture		5.5		3

	Interest rate caps		0.2		0.3

	Total other assets		$	98.6	$	69.3







	(a)	Notes receivable include mezzanine and land loans, primarily related to multifamily development projects. As of December 31, 2013, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 2.0 years.


	(b)	Includes a receivable from the Advisor of $1.8 million as of December 31, 2013.
Summary of interest rate caps	'
	The following table provides a summary of our interest rate caps as of December 31, 2013 (in millions):


	Notional amount	$	162.7

	Range of LIBOR cap rate	2.0% to 4.0%
	Range of maturity dates	2016 to 2017
	Estimated fair value	$	0.2

Leasing_Activity_Tables

Leasing Activity (Tables)	12 Months Ended
	Dec. 31, 2013
Leases [Abstract]	'
Schedule of future minimum base rental payments due to the entity under non-cancelable retail leases	'
	Future minimum base rental payments due to us under these non-cancelable retail leases in effect as of December 31, 2013 are as follows (in millions):


		Future Minimum
	Year	Lease Payments
	2014	$	3.7

	2015	3.7

	2016	3.6

	2017	3.5

	2018	3.2

	Thereafter	28.8

	Total	$	46.5

Mortgages_and_Notes_Payable_Ta

Mortgages and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Schedule of carrying amounts of the mortgages and notes payable classified by whether the obligation is of the parent company or the applicable consolidated Co-Investment Venture	'
	The following table summarizes the carrying amounts of the mortgages and notes payable classified by whether the obligation is ours or that of the applicable consolidated Co-Investment Venture as of December 31, 2013 and December 31, 2012 (amounts in millions and monthly LIBOR at December 31, 2013 is 0.17%):


							As of December 31, 2013
			December 31,		December 31,		Wtd. Average
			2013		2012		Interest Rates		Maturity Dates
	Company Level (a)

	Fixed rate mortgage payable		$	87.3	$	30.3	3.95%		2018 to 2020

	Variable rate mortgage payable		24		24		Monthly LIBOR + 2.45%		2014

	Variable rate construction loans payable (b)		12.2		—		Monthly LIBOR + 2.25%		2017

	Total Company Level		123.5		54.3

	Co-Investment Venture Level - Consolidated (c)

	Fixed rate mortgages payable		852.3		902.2		3.73%		2015 to 2020

	Variable rate mortgage payable		12.2		12.5		Monthly LIBOR + 2.35%		2017

	Fixed rate construction loan payable (d)		24.6		—		4.13%		2018

	Variable rate construction loans payable (e)		9.8		—		Monthly LIBOR + 2.25%		2016 (b)

			898.9		914.7

	Plus: unamortized adjustments from business combinations		6.7		10.6

	Total Co-Investment Venture Level - Consolidated		905.6		925.3

	Total consolidated mortgages and notes payable		$	1,029.10	$	979.6






	(a)	Company level debt is defined as debt that is a direct or indirect obligation of the Company or its wholly owned subsidiaries. Company level debt includes Co-Investment debt where the Company has provided guarantees for the repayment of the debt.


	(b)	Includes two loans with total commitments of $54.8 million. Each loan includes an extension option of one to two years.


	(c)	Co-Investment Venture level debt is defined as debt that is an obligation of the Co-Investment Venture and
	not an obligation or contingency for us.


	(d)	Includes two loans with total commitments of $84.8 million. One of the construction loans has an option to convert the construction loan into a permanent loan with a maturity of 2023.


	(e)	Includes one loan with a total commitment of $21.9 million. This loan includes two one-year extension options.

Schedule of contractual principal payments for the entity's mortgages and notes payable for the five subsequent years and thereafter	'
	As of December 31, 2013, contractual principal payments for our mortgages and notes payable for the five subsequent years and thereafter are as follows (in millions):


					Co-Investment		Total
	Year		Company Level		Venture Level		Consolidated
	2014		$	24	$	5.5	$	29.5

	2015		0.2		83.6		83.8

	2016		0.6		155.6		156.2

	2017		13.8		219.9		233.7

	2018		30		140.8		170.8

	Thereafter		54.9		293.5		348.4

	Total		$	123.5	$	898.9	1,022.40

	Add: unamortized adjustments from business combinations						6.7

	Total mortgages and notes payable						$	1,029.10

Noncontrolling_Interests_Table

Noncontrolling Interests (Tables)

12 Months Ended

Dec. 31, 2013

Noncontrolling Interest [Abstract]

Schedule of non-redeemable, noncontrolling interests

As of December 31, 2013 and December 31, 2012, non-redeemable noncontrolling interests (“NCI”) consisted of the following (in millions):

December 31, 2013

December 31, 2012

Effective

Amount

NCI % (a)

Amount

NCI % (a)

PGGM Co-Investment Partner (b)

293.5

26% to 45%

166.2

26% to 45%

MW Co-Investment Partner

157.8

45%

192.6

45%

Developer Partners

3.5

0% to 6%

5.1

0% to 20%

Subsidiary preferred units

1.4

N/A

1.5

N/A

Total non-redeemable NCI

456.2

365.4

(b)

As discussed in Note 1, “Organization and Business”, the Master Partnership was our partner in these Co-Investment Ventures as of December 31, 2012.

Schedule of redeemable, noncontrolling interests (NCI)

As of December 31, 2013 and December 31, 2012, redeemable noncontrolling interests (“NCI”) consisted of the following (in millions):

December 31, 2013

December 31, 2012

Effective

Amount

NCI % (a)

Amount

NCI % (a)

Developer Partners

0% to 20%

8.6

0% to 20%

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2013
Equity [Abstract]	'
Schedule of distributions, including those paid by issuing shares under the DRIP and the Mariposa distribution	'

	Distributions, including those paid by issuing shares under the DRIP and the Mariposa Distribution, for the years ended December 31, 2013 , 2012, and 2011 were as follows (amounts in millions):


		For the Year Ended December 31,
		2013				2012				2011
		Declared (a)		Paid (b)		Declared (a)		Paid (b)		Declared (a)		Paid (b)
	Fourth Quarter Distributions
	Regular distributions	$	14.9	$	14.7	$	14.7	$	14.5	$	24.9	$	24.6

	Special cash distribution	—		—		—		—		—		—

	Total	$	14.9	$	14.7	$	14.7	$	14.5	$	24.9	$	24.6


	Third Quarter Distributions
	Regular distributions	$	14.9	$	14.9	$	14.7	$	14.6	$	23.7	$	22

	Special cash distribution	—		—		—		10		—		—

	Total	$	14.9	$	14.9	$	14.7	$	24.6	$	23.7	$	22


	Second Quarter Distributions
	Regular distributions	$	14.7	$	14.9	$	14.4	$	18.1	$	18.5	$	17.7

	Special cash distribution	—		—		0.1		—		—		—

	Total	$	14.7	$	14.9	$	14.5	$	18.1	$	18.5	$	17.7


	First Quarter Distributions

	Regular distributions	$	14.5	$	14.5	$	24.8	$	24.8	$	15.9	$	15.4

	Special cash distribution	—		—		9.9		—		—		—

	Total	$	14.5	$	14.5	$	34.7	$	24.8	$	15.9	$	15.4


	Total through December 31

	Regular distributions	$	59	$	59	$	68.6	$	72	$	83	$	79.7

	Special cash distribution	—		—		10		10		—		—

	Total	$	59	$	59	$	78.6	$	82	$	83	$	79.7






	(a) Represents distributions accruing during the period on a daily basis.

	(b) The regular distributions that accrue each month are paid in the following month. Amounts paid include both distributions paid in cash and reinvested pursuant to our DRIP.

Transition_to_SelfManagement_T

Transition to Self-Management (Tables)	12 Months Ended
	Dec. 31, 2013
Transition to Self-Management [Abstract]	'
Schedule of Transition Expenses	'
	The components of our transition expenses are as follows (in millions):


		For the Year Ended December 31, 2013
	Special Committee and Company legal and financial advisors	$	0.7

	General transition services:
	Behringer	7.9

	Other service providers	0.4

	Total transition expenses	$	9

Fair_Value_of_Derivatives_and_1

Fair Value of Derivatives and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Schedule of fair value of assets measured at fair value on a recurring basis	'
	The following fair value hierarchy table presents information about our assets measured at fair value on a recurring basis as of December 31, 2013 and December 31, 2012 (in millions):


		Balance		Level 1				Level 2				Level 3				Fair Value				Gain (Loss) for the
		Sheet														as of				Year Ended
		Location														Reporting Date				December 31,
	Assets

	Interest rate caps	Other assets

	As of December 31, 2013			$	—			$	0.2			$	—			$	0.2			$	—

	As of December 31, 2012			$	—			$	0.3			$	—			$	0.3			$	(0.8	)

Schedule of fair value of assets measured at fair value on a nonrecurring basis	'
	The following fair value hierarchy table presents information about our assets measured at fair value on a nonrecurring basis during the year ended December 31, 2012 (in millions):


	For the Year Ended December 31, 2012	Level 1				Level 2				Level 3				Total Fair Value				Gain (Loss)
	Assets
	Investment in unconsolidated real estate joint venture:
	Veritas Property Entity	$	—			$	—			$	24.8			$	24.8			$	1.7


	The following fair value hierarchy table presents information about our assets measured at fair value on a nonrecurring basis during year ended December 31, 2011 (in millions):


	For the Year Ended December 31, 2011	Level 1				Level 2				Level 3				Total				Gain (Loss)
														Fair Value
	Assets
	Investments in and advances to unconsolidated real estate joint ventures:
	Waterford Place PGGM CO-JV	$	—			$	—			$	27.6			$	27.6			$	18.1

	Consolidated PGGM/MW CO-JVs	—				—				389.7				389.7				103.8

		$	—			$	—			$	417.3			$	417.3			$	121.9

Schedule of carrying amounts and related estimated fair value of mortgage and notes payable	'
	Carrying amounts and the related estimated fair value of our mortgages and notes payable as of December 31, 2013 and December 31, 2012 are as follows (in millions):


		December 31, 2013								December 31, 2012
		Carrying				Fair				Carrying				Fair
		Amount				Value				Amount				Value
	Mortgages and notes payable	$	1,029.10			$	1,015.40			$	979.6			$	991.8

Related_Party_Arrangements_Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Schedule of components of sale of common stock, net related to Initial Public offering	'
	The following presents the components of our sale of common stock, net related to our Initial Public Offering for the year ended December 31, 2011 (amounts in millions):


		For the Year Ended
		December 31, 2011
	Sale of common stock
	Gross proceeds	$	593.8

	Less offering costs:
	O&O reimbursement	0.6

	Dealer manager fees	(14.8		)
	Selling commissions	(40.0		)
	Total offering costs	(54.2		)
	Sale of common stock, net	$	539.6

Supplemental_Disclosures_of_Ca1

Supplemental Disclosures of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2013
Supplemental Cash Flow Information [Abstract]	'
Summary of supplemental cash flow information	'
	Supplemental cash flow information is summarized below (amounts in millions):


		For the Year Ended December 31,
		2013		2012		2011
	Supplemental disclosure of cash flow information:

	Interest paid, net of amounts capitalized of $10.5 million, $2.5 million, and $0.1 million in 2013, 2012, and 2011, respectively	$	25.8	$	32.9	$	10.2

	Non-cash investing and financing activities:

	Acquisition of controlling interests in business combinations with no consideration paid:
	Assets acquired	$	—	$	38.1	$	1,511.60

	Liabilities assumed	$	—	$	37.3	$	746.7

	Noncontrolling interests	$	—	$	1	$	359

	Mortgage payable assumed by purchaser of asset held for sale	$	—	$	15.8	$	58.4

	Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration	$	—	$	2.6	$	—

	Conversion of note receivable into an equity investment	$	4.9	$	5.9	$	4.6

	Assumption of mortgage note payable	$	—	$	—	$	21.5

	Acquisition of a noncontrolling interest	$	9	$	—	$	—

	Funds deposited in escrow related to a development acquisition	$	1.1	$	—	$	—

	Transfer of real estate from construction in progress to operating real estate	$	48.9	$	—	$	—

	Conversion of investment in unconsolidated real estate joint venture into notes receivable	$	9.5	$	—	$	—

	Stock issued pursuant to our DRIP	$	31	$	39.7	$	44.1

	Distributions payable on common stock - regular	$	5	$	4.8	$	8.4

	Construction costs and other related payables	$	43.7	$	12	$	—

Quarterly_Results_unaudited_Ta

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2013
Quarterly Financial Information Disclosure [Abstract]	'
Summary of the unaudited quarterly consolidated financial information	'
	Presented below is a summary of the unaudited quarterly consolidated financial information for the years ended December 31, 2013 and 2012 (amounts in thousands, except per share data):


			2013 Quarters Ended (a)
			March 31			June 30			September 30			December 31
	Rental revenues		$	45,744		$	46,722		$	48,412		$	49,746

	Income (loss) from continuing operations		$	(1,241	)	$	(180	)	$	(14,114	)	$	(1,869	)
	Net income (loss) attributable to common stockholders		$	4,444		$	26,799		$	(460	)	$	(1,091	)

	Basic and diluted weighted average shares outstanding		168,084			168,886			168,881			168,741

	Basic and diluted earnings (loss) per share		$	0.03		$	0.16		$	—		$	(0.01	)



			2012 Quarters Ended (a)
			March 31			June 30			September 30			December 31
	Rental revenues		$	39,865		$	42,062		$	44,449		$	45,386

	Income (loss) from continuing operations		$	(15,855	)	$	(16,308	)	$	(5,033	)	$	(3,649	)
	Net income (loss) attributable to common stockholders		$	4,445		$	(11,269	)	$	(3,921	)	$	(1,769	)

	Basic and diluted weighted average shares outstanding		164,453			165,571			166,417			167,257

	Basic and diluted earnings (loss) per share		$	0.03		$	(0.07	)	$	(0.02	)	$	(0.01	)



	(a)	Operating properties which have been disposed of have been reclassified to discontinued operations for all periods presented.

Organization_and_Business_Deta

Organization and Business (Details) (USD $)

12 Months Ended

1 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Aug. 02, 2013

Dec. 31, 2013

Dec. 31, 2007

Sep. 02, 2011

Dec. 31, 2013

Mar. 01, 2013

Sep. 02, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 20, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Jul. 31, 2013

Dec. 20, 2013

Jul. 29, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

property

joint_venture

officer

Minimum

Maximum

Private Offering

Initial Public Offering

DRIP

PGGM Co JVs [Member]

MW CO-JVs

Developer Co-JVs

Advisor

BHMP GP Interest [Member]

PGGM [Member]

PGGM Co JVs [Member]

investment

Minimum

Maximum

Weighted Average

community

investment

Minimum

Maximum

joint_venture

Minimum

Maximum

employee

Minimum

Maximum

community

joint_venture

community

joint_venture

Organization and business

Age requirement of residents under age-restricted properties (in years)

Number of employees supported by related party service agreements

Transaction to Self-Management, Number of Executive Officers Transferred

Number of multifamily communities in which the entity has made wholly owned investments or joint venture equity

Number of stabilized operating properties

Number of multifamily communities in lease up

Number of multifamily communities in development

Number of wholly owned multifamily communities

Number of debt investments made by the entity

Number of wholly owned investments

Number of multifamily communities in which the entity is having ownership interest through Co-Investment Ventures

Number of consolidated investments

Number of unconsolidated joint venture equity investment in multifamily community

Number of multifamily communities

Effective NCI (as a percent)

99.00%

45.00%

26.00%

[1],[2]

26.00%

[1],[2]

45.00%

[1],[2]

45.00%

[1],[2]

Business Combination, Equity Interest Acquired, Percentage

1.00%

Ownership interest

55.00%

Purchase price to acquire 1% GP Interest

$23,100,000

Equity commitment, maximum potential increase

300,000,000

Number of investments sold

Proceeds from sale of joint venture interests

101,041,000

146,400,000

Co-Investment Ventures

Number of Co-Investment Ventures

[3]

Effective Ownership (as a percent)

44.00%

[3]

51.00%

[3]

74.00%

[3]

74.00%

[3]

55.00%

90.00%

80.00%

100.00%

Minimum Percentage Of Ordinary Taxable Income Distribution Requirement

90.00%

Sales of common stock, net (in shares)

14,200,000

146,400,000

Gross proceeds from shares of common stock sold

127,300,000

1,460,000,000

Proceeds from sales of common stock

593,841,000

114,300,000

1,300,000,000

Number of unsold shares reallocated from Initial Public Offering

50,000,000

Number of shares of common stock offered under the plan

100,000,000

Offering price of shares (in dollars per share)

$9.53

$9.51

$9.48

Percentage of the entity's estimated net asset value per share on which the offering price is based

95.00%

Aggregate number of shares sold

168,320,207

167,542,108

16,000,000

Aggregate gross proceeds from shares of common stock sold

$152,100,000

Number of shares remaining to be sold

84,000,000

Offering period of shares from the termination of Initial Public Offering

'4 years

Period before which written notice is required to be given to participants for suspension or termination plan by the entity

'10 days

Period before which notice is required to be given to participants to amend or supplement plan by the entity

'30 days

Period in which the entity intends to begin to consider the process of listing or liquidation

'2 years

'4 years

Period after the date of termination of Initial Public Offering after which the entity intends to begin to consider the process of listing or liquidation

'4 years

'6 years

[1]

As discussed in Note 1, bOrganization and Businessb, the Master Partnership was our partner in these Co-Investment Ventures as of December 31, 2012.

[2]

Effective noncontrolling interest percentage is based upon the noncontrolling interestbs share of contributed capital.B This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements.

[3]

Includes one unconsolidated investment as of December 31, 2013 and 2012. Also, as of December 31, 2013 and 2012, includes Developer Partners in 16 and none multifamily communities, respectively.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate and Other Related Intangibles	'	'	'
Interest costs capitalized	$10,500,000	$2,500,000	$100,000
Cash and Cash Equivalents	'	'	'
Cash and cash equivalents held by individual Co-Investment Ventures	25,600,000	19,000,000	'
Revenue Recognition	'	'	'
Minimum lease term to recognize rental revenues	'1 year	'	'
Income Taxes	'	'	'
Tax liability or benefit	0	0	'
Minimum Percentage Of Ordinary Taxable Income Distribution Requirement	90.00%	'	'
Difference between carrying value for financial statement purposes and federal income tax basis due to different methods of accounting	54,200,000	'	'
Uncertain tax positions	$0	$0	'
Buildings \| Minimum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Estimated useful lives	'25 years	'	'
Buildings \| Maximum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Estimated useful lives	'35 years	'	'
Improvements \| Minimum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Estimated useful lives	'3 years	'	'
Improvements \| Maximum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Estimated useful lives	'15 years	'	'
Multifamily in-place leases	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Finite-Lived Intangible Asset, Useful Life	'6 months	'	'
Retail in-place leases \| Minimum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Finite-Lived Intangible Asset, Useful Life	'3 years	'	'
Retail in-place leases \| Maximum	'	'	'
Real Estate and Other Related Intangibles	'	'	'
Finite-Lived Intangible Asset, Useful Life	'20 years	'	'

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Income (Loss) per Share	'	'	'
Number of shares authorized and reserved for issuance under incentive award plan	10,000,000	'	'
Number of stock options issued under incentive award plan	0	'	'
Reportable Segments	'	'	'
Number of reportable segments	1	'	'
Reclassifications	'	'	'
Investment in unconsolidated real estate joint venture	5,500,000	3,000,000	'
Construction costs payable	44,684,000	9,751,000	'
Restricted stock	'	'	'
Income (Loss) per Share	'	'	'
Number of shares included in basic and dilutive earnings per share calculation	6,000	6,000	6,000

Business_Combinations_Details

Business Combinations (Details) (USD $)

0 Months Ended

12 Months Ended

1 Months Ended

0 Months Ended

1 Months Ended

Jul. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Feb. 29, 2012

Jul. 31, 2012

Jul. 30, 2012

Jul. 31, 2013

Apr. 30, 2012

Feb. 29, 2012

Grand Reserve BHMP CO-JV [Member]

Veritas Property Entity

BHMP GP Interest [Member]

Mutlfamily Community, San Francisco, CA [Member]

Pembroke Woods Multifamily Community [Member]

Grand Reserve Multifamily Community [Member]

unit

Grand Reserve BHMP CO-JV [Member]

unit

Business Combinations

Purchase price to acquire 1% GP Interest

$23,100,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Net

9,300,000

Acquisition of noncontrolling interests

13,800,000

49,036,000

20,324,000

Number of Units Acquired

202

Payments to Acquire Real Estate

108,014,000

67,583,000

173,263,000

108,700,000

42,300,000

Number of units in real estate property

240

149

Repayment of outstanding amount of construction loan

26,200,000

Net cash received

600,000

400,000

Additional interest acquired in joint venture (as a percent)

32.50%

Ownership interest of the entity in joint ventures (as a percent)

87.50%

Carrying value of note receivables

52,800,000

[1]

36,000,000

[1]

5,900,000

Carrying value of convertible note receivable

20,200,000

Transition expenses

9,003,000

Gain on revaluation of equity on a business combination

$1,723,000

$121,938,000

$1,700,000

[1]

Notes receivable include mezzanine and land loans, primarily related to multifamily development projects. As of DecemberB 31, 2013, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 2.0 years.

Business_Combinations_Details_

Business Combinations (Details 2) (USD $)

3 Months Ended

12 Months Ended

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Amounts recognized for major assets acquired and liabilities assumed, including a reconciliation to cash consideration as of the business combination date

Gain on revaluation of equity on a business combination

($1,723,000)

($121,938,000)

Amounts recognized for revenues and net loss from the business combination

Acquisition expenses

3,677,000

2,508,000

6,163,000

Depreciation and amortization

86,110,000

99,716,000

36,865,000

Gain on revaluation of equity on a business combination

1,723,000

121,938,000

Net loss attributable to common stockholders

-1,091,000

[1]

-460,000

[1]

26,799,000

[1]

4,444,000

[1]

-1,769,000

[1]

-3,921,000

[1]

-11,269,000

[1]

4,445,000

[1]

29,692,000

-12,514,000

98,632,000

Total Acquisitions [Member]

Amounts recognized for major assets acquired and liabilities assumed, including a reconciliation to cash consideration as of the business combination date

Land

20,200,000

19,500,000

20,200,000

19,500,000

Buildings and improvements

88,500,000

113,700,000

88,500,000

113,700,000

Cash

600,000

1,500,000

600,000

1,500,000

In-place lease intangibles

9,200,000

[2]

2,900,000

[2]

9,200,000

[2]

2,900,000

[2]

Investment in unconsolidated real estate joint venture

6,400,000

Other assets

100,000

300,000

100,000

300,000

Mortgage loans payable

-37,100,000

Accrued liabilities

-900,000

-1,300,000

-900,000

-1,300,000

Noncontrollling interest

-6,800,000

-1,000,000

-6,800,000

-1,000,000

Other consideration

[3]

-5,900,000

[3]

-5,900,000

[3]

Net Assets

117,300,000

92,600,000

117,300,000

92,600,000

Investment in unconsolidated real estate joint venture

-22,400,000

Gain on revaluation of equity on a business combination

-1,700,000

Cash consideration

117,300,000

68,500,000

Amounts recognized for revenues and net loss from the business combination

Rental revenues

2,200,000

7,800,000

Acquisition expenses

3,300,000

2,500,000

Depreciation and amortization

3,200,000

5,900,000

Gain on revaluation of equity on a business combination

1,700,000

Net loss attributable to common stockholders

($3,100,000)

($2,700,000)

[1]

Operating properties which have been disposed of have been reclassified to discontinued operations for all periods presented.

[2]

The intangibles for the 2013 acquisitions are $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts. The intangibles for the 2012 acquisitions are in-place lease intangibles.

[3]

Other consideration represents the cancellation of the notes receivable in connection with the acquisition of the Grand Reserve multifamily community in 2012.

Business_Combinations_Details_1

Business Combinations (Details 3) (USD $)	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Proforma	'	'
Revenues	$190.60	$176.30
Depreciation and amortization	88.4	106.5
Loss from continuing operations	($6.80)	($41.90)
Loss from continuing operations per share (in dollars per share)	($0.04)	($0.25)

Real_Estate_Investments_Detail

Real Estate Investments (Details) (USD $)	12 Months Ended
Real Estate Investments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate Investments	'	'	'
Cost	$1,833,452,000	$1,849,483,000	'
Less: accumulated depreciation and amortization	-195,048,000	-123,360,000	'
Depreciation expense	85,054,000	83,909,000	28,690,000
Intangibles	'	'	'
Net	25,753,000	19,063,000	'
Amortization expense associated with lease intangibles	2,394,000	23,606,000	9,453,000
BHMP GP Interest [Member]	'	'	'
Intangibles	'	'	'
In-place lease intangibles	9,200,000	'	'
In-Place Leases	'	'	'
Intangibles	'	'	'
Cost	41,900,000	43,600,000	'
Less: accumulated depreciation and amortization	-39,100,000	-40,100,000	'
Net	2,800,000	3,500,000	'
Amortization expense associated with lease intangibles	2,500,000	21,500,000	9,000,000
Other Contractual	'	'	'
Intangibles	'	'	'
Cost	25,600,000	16,400,000	'
Less: accumulated depreciation and amortization	-2,600,000	-800,000	'
Net	23,000,000	15,600,000	'
Use rights of a parking garage and site improvements	'	'	'
Intangibles	'	'	'
Net	6,800,000	6,800,000	'
Land air rights	'	'	'
Intangibles	'	'	'
Net	9,500,000	9,500,000	'
Buildings and Improvements	'	'	'
Real Estate Investments	'	'	'
Cost	1,833,400,000	1,849,500,000	'
Less: accumulated depreciation and amortization	-195,000,000	-123,400,000	'
Net	1,638,400,000	1,726,100,000	'
Depreciation expense	$81,800,000	$76,400,000	$25,500,000

Real_Estate_Investments_Detail1

Real Estate Investments (Details 2) (USD $)	Dec. 31, 2013
In Millions, unless otherwise specified	Dec. 31, 2013
Anticipated Amortization of Lease Intangibles	'
2014	$4.20
2015	2.8
2016	1.4
2017	1.4
2018	$0.50

Real_Estate_Investments_Detail2

Real Estate Investments (Details 3) (USD $)	12 Months Ended
Real Estate Investments (Details 3) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	$211,900,000	'	'
Net cash proceeds	205,336,000	23,902,000	50,556,000
Gain on sale of real estate	50,779,000	13,312,000	0
Grand Reserve Orange [Member]	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	35,300,000	'	'
Net cash proceeds	34,300,000	'	'
Gain on sale of real estate	12,800,000	'	'
Halstead	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	43,500,000	'	'
Net cash proceeds	42,200,000	'	'
Gain on sale of real estate	11,900,000	'	'
Cyan	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	95,800,000	'	'
Net cash proceeds	95,500,000	'	'
Gain on sale of real estate	19,200,000	'	'
The Reserve at Johns Creek Walk	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	37,300,000	'	'
Net cash proceeds	33,300,000	'	'
Gain on sale of real estate	6,900,000	'	'
Mariposa	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	'	40,000,000	'
Net cash proceeds	'	23,900,000	'
Gain on sale of real estate	'	13,300,000	'
Waterford Place	'	'	'
Assets Held for Sale, Sales of Real Estate and Discontinued Operations	'	'	'
Sales contract price	'	'	110,000,000
Net cash proceeds	'	'	50,600,000
Gain on sale of real estate	'	'	$0

Real_Estate_Investments_Detail3

Real Estate Investments (Details 4) (USD $)	12 Months Ended
Real Estate Investments (Details 4) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Real Estate [Abstract]	'	'	'
Rental revenue	$8,000,000	$17,800,000	$9,000,000
Expenses	'	'	'
Property operating expenses	2,500,000	5,400,000	2,700,000
Real estate taxes	1,100,000	2,200,000	1,300,000
Interest expense	1,000,000	3,100,000	1,300,000
Depreciation and amortization	3,300,000	9,700,000	3,100,000
Total expenses	7,900,000	20,400,000	8,400,000
Loss on early extinguishment of debt	-800,000	0	0
Equity in income (loss) of investments in unconsolidated real estate joint ventures	0	0	-1,000,000
Loss from discontinued operations	-724,000	-2,660,000	-387,000
(Income) loss attributable to noncontrolling interests	-6,832,000	1,735,000	158,000
Income (loss) from discontinued operations attributable to common stockholders	-7,600,000	-900,000	-200,000
Gain on sale of real estate	$50,779,000	$13,312,000	$0

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
	entity	entity
Variable Interest Entities	'	'
Number of variable interest entities	10	3
Assets of VIE	$288	$47
Construction in progress	279.6	46.1
Multifamily community	'	'
Variable Interest Entities	'	'
Number of VIEs having debt	4	'
Construction financing closed by VIEs	108	'
Amount drawn under construction loan	32.2	'
Number of construction loans	3	'
Minimum \| Co-Investment ventures	'	'
Variable Interest Entities	'	'
Ownership in VIEs (as a percent)	55.00%	'
Maximum \| Co-Investment ventures	'	'
Variable Interest Entities	'	'
Ownership in VIEs (as a percent)	100.00%	'
Construction Loans [Member]	'	'
Variable Interest Entities	'	'
Number of loans partial payment is guaranteed	2	'
Total commitments under guarantee	54.8	'
Amount outstanding under guarantee	$12.30	'

Other_Assets_Details

Other Assets (Details) (USD $)	12 Months Ended								12 Months Ended		1 Months Ended
	Dec. 31, 2013		Dec. 31, 2012		Dec. 31, 2011	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2013	Jul. 31, 2012
						Advisor	Custer BHMP COJV [Member]	Custer BHMP COJV [Member]	Convertible Debt [Member]	Convertible Debt [Member]	Veritas Property Entity
										Custer BHMP COJV [Member]
										unit
Other Assets [Line Items]	'		'		'	'	'	'	'	'	'
Notes receivable, net	$52,800,000	[1]	$36,000,000	[1]	'	'	'	'	'	'	'
Escrows and restricted cash	12,400,000		10,300,000		'	'	'	'	'	'	'
Deferred financing costs, net	12,100,000		8,500,000		'	'	'	'	'	'	'
Resident, tenant and other receivables	8,300,000	[2]	6,200,000	[2]	'	'	'	'	'	'	'
Prepaid assets and deposits	7,300,000		5,000,000		'	'	'	'	'	'	'
Investment in unconsolidated real estate joint venture	5,500,000		3,000,000		'	'	5,500,000	3,000,000	'	'	'
Interest rate caps	200,000		300,000		'	'	'	'	'	'	'
Total other assets	98,567,000		69,312,000		'	'	'	'	'	'	'
Weighted average interest rate on notes receivables (as a percent)	14.70%		'		'	'	'	'	'	'	'
Remaining period to scheduled maturity on notes receivables	'2 years 0 months 6 days		'		'	'	'	'	'	'	'
Receivable from Advisor	'		'		'	1,800,000	'	'	'	'	'
Effective Ownership (as a percent)	'		'		'	'	55.00%	'	'	'	'
Number of units to be developed (in units)	'		'		'	'	'	'	'	444	'
Interest rate on advances (as a percent)	'		'		'	'	'	'	14.50%	'	'
Gain on revaluation of equity on a business combination	$0		$1,723,000		$121,938,000	'	'	'	'	'	$1,700,000

[1]	Notes receivable include mezzanine and land loans, primarily related to multifamily development projects. As of DecemberB 31, 2013, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 2.0 years.
[2]	Includes a receivable from the Advisor of $1.8 million as of DecemberB 31, 2013.

Other_Assets_Details_2

Other Assets (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012
Interest rate cap agreements	'	'
Estimated fair value	$0.20	$0.30
Interest rate cap	'	'
Interest rate cap agreements	'	'
Notional amount	162.7	'
Estimated fair value	$0.20	'
Interest rate cap \| Minimum	'	'
Interest rate cap agreements	'	'
Range of LIBOR cap rate	2.00%	'
Interest rate cap \| Maximum	'	'
Interest rate cap agreements	'	'
Range of LIBOR cap rate	4.00%	'

Leasing_Activity_Details

Leasing Activity (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Leases [Abstract]	'
Retail areas as a percentage of total rentable area of the entity's consolidated multifamily communities	2.00%
Future Minimum Lease Payments	'
2014	$3.70
2015	3.7
2016	3.6
2017	3.5
2018	3.2
Thereafter	28.8
Total	$46.50

Mortgages_and_Notes_Payable_De

Mortgages and Notes Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012
	option
	loan
Mortgage loans payable	'		'
Total consolidated mortgages and notes Payable	$1,029,111,000		$979,558,000
One-month LIBOR	'		'
Mortgage loans payable	'		'
Monthly LIBOR interest rate at period end	0.17%		'
Parent	'		'
Mortgage loans payable	'		'
Total consolidated mortgages and notes Payable	123,500,000	[1]	54,300,000	[1]
Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Total	898,900,000		914,700,000
Plus: unamortized adjustments from business combinations	6,700,000		10,600,000
Total consolidated mortgages and notes Payable	905,600,000		925,300,000
Mortgages and notes payable	'		'
Mortgage loans payable	'		'
Total	1,022,400,000		'
Plus: unamortized adjustments from business combinations	6,700,000		'
Total consolidated mortgages and notes Payable	1,029,100,000		'
Net consolidated carrying value of real estate that collateralized the mortgage loans payable	1,900,000,000		'
Mortgages and notes payable \| Parent	'		'
Mortgage loans payable	'		'
Total	123,500,000		'
Mortgages and notes payable \| Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Total	898,900,000		'
Parent company, fixed rate mortgage payable \| Mortgages and notes payable \| Parent	'		'
Mortgage loans payable	'		'
Fixed rate mortgages payable	87,300,000	[1]	30,300,000	[1]
Wtd. Average Interest Rates (as a percent)	3.95%	[1]	'
Parent company, variable rate mortgage payable \| Mortgages and notes payable \| Parent	'		'
Mortgage loans payable	'		'
Variable rate mortgages payable	24,000,000	[1]	24,000,000	[1]
Parent company, variable rate mortgage payable \| Mortgages and notes payable \| Parent \| One-month LIBOR	'		'
Mortgage loans payable	'		'
Interest rate base	'Monthly LIBOR	[1]	'
Interest rate margin (as a percent)	2.45%	[1]	'
Parent company, variable rate construction loan payable \| Construction loan \| Parent	'		'
Mortgage loans payable	'		'
Variable rate mortgages payable	12,200,000	[1],[2]	0	[1],[2]
Number of Loans	2		'
Total loan commitment	54,800,000		'
Parent company, variable rate construction loan payable \| Construction loan \| Parent \| One-month LIBOR	'		'
Mortgage loans payable	'		'
Interest rate base	'Monthly LIBOR	[1],[2]	'
Interest rate margin (as a percent)	2.25%	[1],[2]	'
Co-investment venture, fixed rate mortgages payable \| Mortgages and notes payable \| Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Fixed rate mortgages payable	852,300,000	[3]	902,200,000	[3]
Wtd. Average Interest Rates (as a percent)	3.73%	[3]	'
Co-investment venture, variable rate mortgage payable \| Mortgages and notes payable \| Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Variable rate mortgages payable	12,200,000	[3]	12,500,000	[3]
Co-investment venture, variable rate mortgage payable \| Mortgages and notes payable \| Consolidated co-investment venture \| One-month LIBOR	'		'
Mortgage loans payable	'		'
Interest rate base	'Monthly LIBOR	[3]	'
Interest rate margin (as a percent)	2.35%	[3]	'
Co-investment venture, fixed rate construction loan payable \| Construction loan \| Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Fixed rate mortgages payable	24,600,000	[3],[4]	0	[3],[4]
Wtd. Average Interest Rates (as a percent)	4.13%	[3],[4]	'
Number of Loans	2		'
Total loan commitment	84,800,000		'
Co-investment venture, variable rate construction loan payable \| Construction loan \| Consolidated co-investment venture	'		'
Mortgage loans payable	'		'
Variable rate mortgages payable	9,800,000	[3],[5]	0	[3],[5]
Number of Loans	1		'
Total loan commitment	$21,900,000		'
Number of extension options	2		'
Extension options period	'1 year		'
Co-investment venture, variable rate construction loan payable \| Construction loan \| Consolidated co-investment venture \| One-month LIBOR	'		'
Mortgage loans payable	'		'
Interest rate base	'Monthly LIBOR	[3],[5]	'
Interest rate margin (as a percent)	2.25%	[3],[5]	'
Minimum \| Parent company, variable rate construction loan payable \| Construction loan \| Parent	'		'
Mortgage loans payable	'		'
Extension options period	'1 year		'
Maximum \| Parent company, variable rate construction loan payable \| Construction loan \| Parent	'		'
Mortgage loans payable	'		'
Extension options period	'2 years		'

[1]	Company level debt is defined as debt that is a direct or indirect obligation of the Company or its wholly owned subsidiaries. Company level debt includes Co-Investment debt where the Company has provided guarantees for the repayment of the debt.
[2]	oans with total commitments of $54.8 million. Each loan includes an extension option of one to two years.
[3]	Co-Investment Venture level debt is defined as debt that is an obligation of the Co-Investment Venture and not an obligation or contingency for us.
[4]	Includes two loans with total commitments of $84.8 million. One of the construction loans has an option to convert the construction loan into a permanent loan with a maturity of 2023.
[5]	Includes one loan with a total commitment of $21.9 million. This loan includes two one-year extension options.

Mortgages_and_Notes_Payable_De1

Mortgages and Notes Payable (Details 2) (USD $)	Dec. 31, 2013		Dec. 31, 2012
Contractual principal payments for the five subsequent years and thereafter	'		'
Total consolidated mortgages and notes Payable	$1,029,111,000		$979,558,000
Parent	'		'
Contractual principal payments for the five subsequent years and thereafter	'		'
Total consolidated mortgages and notes Payable	123,500,000	[1]	54,300,000	[1]
Consolidated co-investment venture	'		'
Contractual principal payments for the five subsequent years and thereafter	'		'
Total	898,900,000		914,700,000
Add: unamortized adjustments from business combinations	6,700,000		10,600,000
Total consolidated mortgages and notes Payable	905,600,000		925,300,000
Mortgages [Member]	'		'
Contractual principal payments for the five subsequent years and thereafter	'		'
2014	29,500,000		'
2015	83,800,000		'
2016	156,200,000		'
2017	233,700,000		'
2018	170,800,000		'
Thereafter	348,400,000		'
Total	1,022,400,000		'
Add: unamortized adjustments from business combinations	6,700,000		'
Total consolidated mortgages and notes Payable	1,029,100,000		'
Mortgages [Member] \| Parent	'		'
Contractual principal payments for the five subsequent years and thereafter	'		'
2014	24,000,000		'
2015	200,000		'
2016	600,000		'
2017	13,800,000		'
2018	30,000,000		'
Thereafter	54,900,000		'
Total	123,500,000		'
Mortgages [Member] \| Consolidated co-investment venture	'		'
Contractual principal payments for the five subsequent years and thereafter	'		'
2014	5,500,000		'
2015	83,600,000		'
2016	155,600,000		'
2017	219,900,000		'
2018	140,800,000		'
Thereafter	293,500,000		'
Total	$898,900,000		'

[1]	Company level debt is defined as debt that is a direct or indirect obligation of the Company or its wholly owned subsidiaries. Company level debt includes Co-Investment debt where the Company has provided guarantees for the repayment of the debt.

Credit_Facility_Payable_Detail

Credit Facility Payable (Details) (Credit facility, USD $)	12 Months Ended
Credit Facility Payable (Details) (Credit facility, USD $)	Dec. 31, 2013
Credit facility payable	'
Maximum borrowing capacity	$150,000,000
Unused facility fee (as a percent)	1.00%
Percentage of the total commitment used for computation of unused capacity commitment fee	75.00%
Net carrying value of real estate that collateralized the credit facility	170,800,000
Percentage of the value of the collateral pool up to which borrowings can be made under the facility	70.00%
Available but undrawn amounts	138,100,000
Minimum	'
Credit facility payable	'
Percentage of the total credit facility used for computation of minimum usage fee	75.00%
Borrowing required under the loan	10,000,000
Consolidated net worth required to be maintained	150,000,000
Consolidated liquidity required to be maintained	$15,000,000
Net operating income of the collateral pool required to be maintained expressed as percentage of the facility debt service cost	155.00%
Base rate	'
Credit facility payable	'
Variable rate basis	'base rate
One-month or three-month LIBOR rate	'
Credit facility payable	'
Variable rate basis	'one-month or three-month LIBOR rate
One-month LIBOR rate	'
Credit facility payable	'
Variable rate basis	'one-month LIBOR
Applicable margin (as a percent)	2.08%
Base rate (as a percent)	0.17%

Noncontrolling_Interests_Detai

Noncontrolling Interests (Details) (USD $)	Dec. 31, 2013		Jul. 29, 2013	Dec. 31, 2012
Noncontrolling Interest [Line Items]	'		'	'
Subsidiary preferred units	$1,400,000		'	$1,500,000
Non-redeemable noncontrolling interests	456,205,000		'	365,350,000
PGGM Co JVs	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Joint ventures	293,500,000	[1]	'	166,200,000	[1]
Effective NCI (as a percent)	'		45.00%	'
MW Co-Investment Partner	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Joint ventures	157,800,000		'	192,600,000
Effective NCI (as a percent)	45.00%	[2]	'	45.00%	[2]
Developer Partners	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Joint ventures	$3,500,000		'	$5,100,000
Minimum \| PGGM Co JVs	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Effective NCI (as a percent)	26.00%	[1],[2]	'	26.00%	[1],[2]
Minimum \| Developer Partners	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Effective NCI (as a percent)	0.00%	[2]	'	0.00%	[2]
Maximum \| PGGM Co JVs	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Effective NCI (as a percent)	45.00%	[1],[2]	'	45.00%	[1],[2]
Maximum \| Developer Partners	'		'	'
Noncontrolling Interest [Line Items]	'		'	'
Effective NCI (as a percent)	6.00%	[2]	'	20.00%	[2]

[1]	As discussed in Note 1, bOrganization and Businessb, the Master Partnership was our partner in these Co-Investment Ventures as of December 31, 2012.
[2]	Effective noncontrolling interest percentage is based upon the noncontrolling interestbs share of contributed capital.B This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements.

Noncontrolling_Interests_Detai1

Noncontrolling Interests (Details 2) (USD $)

0 Months Ended

12 Months Ended

0 Months Ended

12 Months Ended

0 Months Ended

1 Months Ended

12 Months Ended

Jul. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 20, 2013

Jul. 31, 2013

Dec. 31, 2012

Jul. 31, 2013

Dec. 31, 2013

31-May-13

Dec. 31, 2013

Dec. 31, 2012

Developer Co-JVs

BHMP GP Interest [Member]

PGGM Co JVs [Member]

Grand Reserve Multifamily Community [Member]

Cameron PGGM CO-JV

PGGM Co JVs [Member]

MW CO-JVs

Cyan MW CO-JV

Cameron PGGM CO-JV

Grand Reserve BHMP CO-JV and Cameron BHMP CO-JV

joint_venture

entity

Minimum

Maximum

Minimum

Maximum

Grand Reserve Multifamily Community [Member]

Noncontrolling Interest [Line Items]

Number of preferred units issued by subsidiary of joint venture

121

125

121

125

Annual distribution rate (as a percent)

12.50%

Face value of preferred units (in dollars per unit)

$500

Redemption price of preferred units (in dollars per unit)

$500

Redemption premium of preferred units for first year (in dollars per unit)

$50

$100

$50

$100

Decline in redemption premium of preferred units (in dollars per unit)

$25

Redemption premium remaining of preferred units

Distributions paid to noncontrolling interest holders

51,303,000

29,733,000

2,806,000

Distributions paid to noncontrolling interest holders related to operating activities

25,000,000

20,400,000

Acquisition of noncontrolling interests

13,800,000

49,036,000

20,324,000

27,900,000

Percentage of equity interest acquired

1.00%

Purchase price to acquire 1% GP Interest

23,100,000

Remaining consideration after closing costs

9,300,000

Sale of noncontrolling interest

7,272,000

7,300,000

Percent of noncontrolling interest sold

42.00%

Number of investments sold

Proceeds from sale of joint venture interests

101,041,000

146,400,000

Adjustments to additional paid in capital noncontrolling interest

100,000

-23,200,000

Amount contributed for the acquisition of multifamily communities

25,300,000

Number of CO-JVs contributed to

Gain loss recognized in connection with contribution to noncontrolling interest

Decrease in additional paid-in capital in connection with the acquisition of noncontrolling interests

4,400,000

Gain on revaluation of equity on a business combination

$1,723,000

$121,938,000

Noncontrolling_Interests_Detai2

Noncontrolling Interests (Details 3) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Jun. 30, 2012

Developer Partners - Redeemable [Member]

Bailey's Crossing

Minimum

Maximum

Redeemable, Noncontrolling Interest

Amount

$21,984,000

$8,585,000

$22,000,000

$8,600,000

Effective NCI (as a percent)

0.00%

[1]

0.00%

[1]

20.00%

[1]

20.00%

[1]

Exercise Period of Put Options Requiring Entity to Acquire Partner Ownership Interest after Completion and Stabilization of Development

'1 year

Purchase price of redeemable noncontrolling interests acquired

3,000,000

Increase in additional paid-in capital in connection with the acquisition of redeemable noncontrolling interests

$1,800,000

[1]

Effective noncontrolling interest percentage is based upon the noncontrolling interestbs share of contributed capital. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements. For Co-Investment Ventures where the developerbs equity has been returned, the effective noncontrolling interest percentage is shown as zero.

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended				0 Months Ended		0 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Jul. 31, 2013	Dec. 31, 2012	Jul. 31, 2013
			Behringer Harvard Holdings, LLC	Behringer Harvard Holdings, LLC	Convertible Stock	Convertible Stock	Series A Preferred Stock [Member]
					Advisor	Advisor	Advisor
							vote
Capitalization	'	'	'	'	'	'	'
Number of shares of common stock outstanding	168,320,207	167,542,108	'	'	'	'	'
Number of shares issued to independent directors	6,000	6,000	'	'	'	'	'
Shares issued	'	'	24,969	24,969	'	1,000	'
Value of shares issued	'	'	$200	$200	'	$1	'
Preferred stock, shares authorized	124,999,000	124,999,000	'	'	'	'	'
Convertible shares surrendered during the period	'	'	'	'	1,000	'	'
Preferred stock, shares issued	'	'	'	'	'	'	10,000
Preferred Stock, Dividend Rate, Percentage	7.00%	'	'	'	'	'	7.00%
Preferred stock, par value (in dollars per share)	$0.00	$0.00	'	'	'	'	$0.00
Number of Voting Rights Per Share	'	'	'	'	'	'	1
Preferred Stock, Liquidation Preference Per Share	$10	'	'	'	'	'	$10
Excess Percentage Preferred Stock Conversion Into Common Stock	'	'	'	'	'	'	15.00%
Cumulative Required Return On Issue Price Of Outstanding Shares, Percentage	'	'	'	'	'	'	7.00%
Multiplier Based On Listing Or Change In Control, Percentage	'	'	'	'	'	'	115.00%

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (USD $)

0 Months Ended

3 Months Ended

12 Months Ended

Mar. 29, 2012

Mar. 19, 2012

Dec. 31, 2013

Sep. 30, 2013

Jun. 30, 2013

Mar. 31, 2013

Dec. 31, 2012

Sep. 30, 2012

Jun. 30, 2012

Mar. 31, 2012

Dec. 31, 2011

Sep. 30, 2011

Jun. 30, 2011

Mar. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Equity [Abstract]

Special cash distribution (in dollars per share)

$0.06

Regular distributions, Declared

$14,900,000

[1]

$14,900,000

[1]

$14,700,000

[1]

$14,500,000

[1]

$14,700,000

[1]

$14,700,000

[1]

$14,400,000

[1]

$24,800,000

[1]

$24,900,000

[1]

$23,700,000

[1]

$18,500,000

[1]

$15,900,000

[1]

$59,035,000

[1]

$68,638,000

[1]

$82,981,000

[1]

Special cash distribution, Declared

[1]

100,000

[1]

9,900,000

[1]

9,969,000

[1]

Total, Declared

14,900,000

[1]

14,900,000

[1]

14,700,000

[1]

14,500,000

[1]

14,700,000

[1]

14,700,000

[1]

14,500,000

[1]

34,700,000

[1]

24,900,000

[1]

23,700,000

[1]

18,500,000

[1]

15,900,000

[1]

59,000,000

[1]

78,600,000

[1]

83,000,000

[1]

Regular distributions, Paid

14,700,000

[2]

14,900,000

[2]

14,900,000

[2]

14,500,000

[2]

14,500,000

[2]

14,600,000

[2]

18,100,000

[2]

24,800,000

[2]

24,600,000

[2]

22,000,000

[2]

17,700,000

[2]

15,400,000

[2]

59,000,000

[2]

72,000,000

[2]

79,700,000

[2]

Payments of Special Dividends Common Stock

[2]

10,000,000

[2]

9,969,000

[2]

Total, Paid

$14,700,000

[2]

$14,900,000

[2]

$14,900,000

[2]

$14,500,000

[2]

$14,500,000

[2]

$24,600,000

[2]

$18,100,000

[2]

$24,800,000

[2]

$24,600,000

[2]

$22,000,000

[2]

$17,700,000

[2]

$15,400,000

[2]

$59,000,000

[2]

$82,000,000

[2]

$79,700,000

[2]

Share price used in calculating annualized distribution rate (in dollars per share)

$10

Daily distribution amount (in dollars per share)

$0.00

Annual distribution rate on common stock (as a percent)

3.50%

6.00%

3.50%

[1]

Represents distributions accruing during the period on a daily basis.

[2]

The regular distributions that accrue each month are paid in the following month. Amounts paid include both distributions paid in cash and reinvested pursuant to our DRIP.

Stockholders_Equity_Details_3

Stockholders' Equity (Details 3) (USD $)	3 Months Ended	12 Months Ended
Share data in Millions, except Per Share data, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Share Redemption Program	'	'	'	'
Number of shares of common stock redeemed	1.7	'	'	'
Total consideration for which shares of common stock were redeemed	$15,500,000	$22,936,000	$15,522,000	$17,780,000
Weighted average share price (in dollars per share)	$9.50	'	'	'
Per share redemption price expressed as percentage of the most recently disclosed estimated value per share	'	85.00%	'	'
Quarterly redemption funding limit	'	7,000,000	'	'
Redemption limit expressed as a percentage of weighted average of shares outstanding	'	5.00%	'	'
Period for which weighted average number of shares are outstanding to calculate redemption limit	'	'12 months	'	'
Common stock redemption, shares	'	2.5	'	'
Common stock average redemption share price (in dollars per share)	'	$9.24	'	'
Common stock, value of redemption properly submitted	'	22,900,000	'	'
Common stock unfulfilled redemption, shares	'	2.6	'	'
Common stock, value of unfulfilled redemption	'	$22,600,000	'	'

Transition_to_SelfManagement_D

Transition to Self-Management (Details) (USD $)

Dec. 31, 2013

Aug. 02, 2013

Dec. 31, 2012

Jul. 31, 2013

Dec. 31, 2013

Jul. 31, 2013

Dec. 31, 2013

Feb. 28, 2014

officer

Behringer Harvard Multifamily Advisors I [Member]

Behringer Harvard Multifamily Advisors I and Affiliates [Member]

Series A Preferred Stock [Member]

Convertible Stock

BHMP GP Interest [Member]

Transition to Self-Management [Member]

Subsequent Event [Member]

Behringer Harvard Multifamily Advisors I [Member]

Transition to Self-Management [Member]

Behringer Harvard Multifamily Advisors I [Member]

Transition to Self-Management [Line Items]

Transaction to Self-Management, Number of Executive Officers Transferred

Issuance of Preferred Stock

10,000

Convertible shares surrendered during the period

1,000

Common Stock, Par or Stated Value Per Share

$0.00

Purchase price to acquire 1% GP Interest

$23,100,000

Percentage of equity interest acquired

1.00%

Transaction to Self-Management, Payment for Service Reimbursement

2,500,000

Transaction to self-management, advisor fees

1,100,000

Percentage of fee for new platform with certain specified potential future investors capital commitment

2.50%

Credits due from related party

1,800,000

3,200,000

Proceeds from Related Party Credit

1,400,000

1,800,000

Transaction to self-management, monthly general transaction service fee

400,000

Transaction to self-management, payment due at self-management closing

1,250,000

Payment of general transition services

2,100,000

Monthly asset management fees credit

150,000

Monthly property management fee credit

50,000

Certain intangible assets, rights and contracts transferred

3,500,000

Acquisition and advisory fees as percentage of investments made by the entity directly or indirectly

1.75%

Acquisition And Advisory Fees, Defined Costs For Other Acquisitions Generally Through June 30, 2014, Percentage

1.58%

Percentage of reimbursement of non-accountable acquisition expense

0.25%

Debt Financing Fees, Percentage

1.00%

Other Debt Financing Fee Percentage

0.90%

Shareholder Services, Term

'2 years

Monthly Servicing Fees

100,000

Operating leases to use certain office space

$300,000

Transition_to_SelfManagement_D1

Transition to Self-Management (Details 2) (USD $)	12 Months Ended
Transition to Self-Management (Details 2) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Transition to Self-Management [Line Items]	'	'	'
Transition Expense Related To Legal And Financial Advisors	$700,000	'	'
General Transition Expenses to a Related Party	7,900,000	'	'
General transition expenses with other service providers	400,000	'	'
Transition Expenses	9,003,000	0	0
Behringer Harvard Multifamily Advisors I [Member]	'	'	'
Transition to Self-Management [Line Items]	'	'	'
Accrued Transition Costs Payable to Behringer Harvard Multifamily Advisors I	$5,700,000	'	'

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	12 Months Ended
Commitments and Contingencies (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Commitments	'	'
Deferred revenues, primarily lease revenues, net	$18,382,000	$17,497,000
Commitments to provide affordable housing \| The Gallery At NoHo Commons	'	'
Commitments	'	'
Level annual payments made by the housing authority	2,000,000	'
Reimbursement of annual payments made by the housing authority	0	'
Period during which no reimbursements are made by housing authority	'20 years	'
Liability under contract	14,000,000	'
Deferred revenues, primarily lease revenues, net	17,600,000	17,500,000
Construction and development contracts	'	'
Commitments	'	'
Liability under contract	$645,100,000	'
Period in which construction costs are expected to be paid	'24 months	'

Fair_Value_of_Derivatives_and_2

Fair Value of Derivatives and Financial Instruments (Details) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Fair value of derivatives and financial instruments	'	'
Interest rate caps	$200,000	$300,000
Recurring basis	'	'
Fair value of derivatives and financial instruments	'	'
Interest rate caps	200,000	'
Recurring basis \| Gain (Loss)	'	'
Fair value of derivatives and financial instruments	'	'
Loss	0	-800,000
Recurring basis \| Level 1	'	'
Fair value of derivatives and financial instruments	'	'
Interest rate caps	0	0
Recurring basis \| Level 2	'	'
Fair value of derivatives and financial instruments	'	'
Interest rate caps	200,000	300,000
Recurring basis \| Level 3	'	'
Fair value of derivatives and financial instruments	'	'
Interest rate caps	0	0
Recurring basis \| Fair Value	'	'
Fair value of derivatives and financial instruments	'	'
Interest rate caps	200,000	300,000
Nonrecurring basis	'	'
Fair value of derivatives and financial instruments	'	'
Fair value adjustments	$0	'

Fair_Value_of_Derivatives_and_3

Fair Value of Derivatives and Financial Instruments (Details 2) (USD $)

12 Months Ended

1 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Jul. 31, 2012

Dec. 31, 2012

Dec. 31, 2011

Nonrecurring basis

Gain (Loss)

Carrying Amount

Fair Value

Veritas Property Entity

Waterford Place

Consolidated PGGM/MW CO-JVs [Member]

Level 1

Level 2

Level 3

Fair Value

Nonrecurring basis

Mortgages and notes payable

Nonrecurring basis

Gain (Loss)

Nonrecurring basis

Gain (Loss)

Nonrecurring basis

Gain (Loss)

Level 1

Level 2

Level 3

Fair Value

Nonrecurring basis

Level 1

Level 2

Level 3

Fair Value

Nonrecurring basis

Level 1

Level 2

Level 3

Fair Value

Nonrecurring basis

Fair Value

Gain on revaluation of equity on a business combination

$1,723,000

$121,938,000

$1,700,000

Investment in unconsolidated real estate joint venture

417,300,000

121,900,000

24,800,000

1,700,000

27,600,000

18,100,000

389,700,000

103,800,000

Mortgages and notes payable

$1,029,100,000

$979,600,000

$1,015,400,000

$991,800,000

Related_Party_Arrangements_Det

Related Party Arrangements (Details) (USD $)

12 Months Ended

0 Months Ended

5 Months Ended

12 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Aug. 02, 2013

Jul. 31, 2013

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

development

officer

Advisor

Advisor and its affiliates

BHM Management and its affiliates

employee

Other disclosures

Number of employees supported by related party service agreements

Transaction to Self-Management, Number of Executive Officers Transferred

Acquisition and advisory fees as percentage of investments made by the entity directly or indirectly

1.75%

Acquisition And Advisory Fees, Defined Costs For Other Acquisitions Generally Through June 30, 2014, Percentage

1.58%

Percentage of reimbursement of non-accountable acquisition expense

0.25%

Acquisition and advisory fees earned by the related party

$15,000,000

$7,300,000

$4,800,000

Acquisition and advisory fees capitalized

13,200,000

5,000,000

1,100,000

Number of developments related to acquisition and advisory fees subject to final reconciliation to actual amounts

Percentage of debt financing fees received by the related party

1.00%

Other Debt Financing Fee Percentage

0.90%

Debt financing fees earned by the related party

1,500,000

1,300,000

2,300,000

Monthly asset management fee, percent

0.04%

Monthly asset management fees credit

150,000

Asset management fees earned by the related party

7,673,000

6,622,000

6,306,000

7,700,000

6,600,000

6,300,000

Advisor development fees

Property management fees as percentage of gross revenues

3.75%

Oversight fee as a percentage of gross revenues

0.50%

Monthly property management fee credit

50,000

Property management fees, net of expenses to third party property managers but including reimbursement expenses

23,400,000

21,300,000

8,500,000

Expenses reimbursed

1,800,000

1,900,000

Payables to related parties

$1,900,000

$1,400,000

Related_Party_Arrangements_Det1

Related Party Arrangements (Details 2)	0 Months Ended
Related Party Arrangements (Details 2)	Sep. 02, 2011
Advisor	'
Related Party Arrangements	'
O&O reimbursement as percentage of gross proceeds of the completed Initial Public Offering, exclusive of proceeds from the DRIP	1.50%
Behringer Securities LP [Member]	'
Related Party Arrangements	'
Selling commissions as percentage of gross offering proceeds	7.00%
Dealer manager fee as percentage of gross proceeds	2.50%

Related_Party_Arrangements_Det2

Related Party Arrangements (Details 3) (USD $)	12 Months Ended
Related Party Arrangements (Details 3) (USD $)	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Related Party Arrangements	'	'	'
Gross proceeds	$0	$0	$593,841,000
Less offering costs:	'	'	'
Total offering costs	0	0	-57,154,000
Advisor and its affiliates	'	'	'
Related Party Arrangements	'	'	'
Gross proceeds	'	'	593,800,000
Less offering costs:	'	'	'
O&O Reimbursement	'	'	600,000
Dealer manager fees	'	'	-14,800,000
Selling commissions	'	'	-40,000,000
Total offering costs	'	'	-54,200,000
Sale of common stock, net	'	'	$539,600,000

Supplemental_Disclosures_of_Ca2

Supplemental Disclosures of Cash Flow Information (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Supplemental Cash Flow Information [Abstract]	'	'	'
Interest paid, net of amounts capitalized	$25.80	$32.90	$10.20
Interest capitalized	10.5	2.5	0.1
Non-cash investing and financing activities:	'	'	'
Assets acquired through controlling interest in business combination	0	38.1	1,511.60
Liabilities assumed through controlling interest in business combination	0	37.3	746.7
Noncontrolling interests	0	1	359
Mortgage payable assumed by purchaser of asset held for sale	0	15.8	58.4
Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration	0	2.6	0
Conversion of note receivable into an equity investment	4.9	5.9	4.6
Assumption of mortgage note payable	0	0	21.5
Acquisition of a noncontrolling interest	9	0	0
Funds deposited in escrow related to a development acquisition	1.1	0	0
Transfer of real estate from construction in progress to operating real estate	48.9	0	0
Conversion of investment in unconsolidated real estate joint venture into notes receivable	9.5	0	0
Stock issued pursuant to our DRIP	31	39.7	44.1
Distributions payable on common stock - regular	5	4.8	8.4
Construction costs and other related payables	$43.70	$12	$0

Subsequent_Events_Details

Subsequent Events (Details) (USD $)

12 Months Ended

0 Months Ended

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Mar. 03, 2014

Feb. 08, 2014

Feb. 03, 2014

Jan. 02, 2014

Mar. 03, 2014

Feb. 03, 2014

Jan. 02, 2014

Mar. 03, 2014

Feb. 03, 2014

Jan. 02, 2014

Dec. 31, 2013

Feb. 08, 2014

Subsequent event

Tupelo Alley PGGM CO-JV [Member]

PGGM Co-Investment Partner [Member]

Cash distributions

DRIP

Subsequent event

Subsequent Events

Sales contract price

$211,900,000

$52,900,000

Notes Assumed by Buyer

15,800,000

58,400,000

19,300,000

Carrying value of multifamily community

36,600,000

Proceeds from Real Estate and Real Estate Joint Ventures

33,000,000

14,700,000

Distributions paid

27,983,000

32,344,000

35,600,000

4,500,000

5,000,000

2,200,000

2,400,000

Distributions funded by issuing shares pursuant to DRIP

$31,007,000

$39,726,000

$44,140,000

$2,300,000

$2,600,000

Quarterly_Results_unaudited_De

Quarterly Results (unaudited) (Details) (USD $)	3 Months Ended																12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2013		Sep. 30, 2013		Jun. 30, 2013		Mar. 31, 2013		Dec. 31, 2012		Sep. 30, 2012		Jun. 30, 2012		Mar. 31, 2012		Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Quarterly Financial Information Disclosure [Abstract]	'		'		'		'		'		'		'		'		'	'	'
Rental revenues	$49,746	[1]	$48,412	[1]	$46,722	[1]	$45,744	[1]	$45,386	[1]	$44,449	[1]	$42,062	[1]	$39,865	[1]	$190,624	$171,762	$63,318
Income (loss) from continuing operations	-1,869	[1]	-14,114	[1]	-180	[1]	-1,241	[1]	-3,649	[1]	-5,033	[1]	-16,308	[1]	-15,855	[1]	-17,466	-40,845	94,875
Net income (loss) attributable to common stockholders	($1,091)	[1]	($460)	[1]	$26,799	[1]	$4,444	[1]	($1,769)	[1]	($3,921)	[1]	($11,269)	[1]	$4,445	[1]	$29,692	($12,514)	$98,632
Basic and diluted weighted average shares outstanding	168,741	[1]	168,881	[1]	168,886	[1]	168,084	[1]	167,257	[1]	166,417	[1]	165,571	[1]	164,453	[1]	168,650	166,178	138,111
Basic and diluted income (loss) per share (in dollars per share)	($0.01)	[1]	$0	[1]	$0.16	[1]	$0.03	[1]	($0.01)	[1]	($0.02)	[1]	($0.07)	[1]	$0.03	[1]	$0.18	($0.08)	$0.71

[1]	Operating properties which have been disposed of have been reclassified to discontinued operations for all periods presented.

Valuation_and_Qualifying_Accou1

Valuation and Qualifying Accounts Schedule II (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Movement in valuation and qualifying accounts	'	'	'
Balance at Beginning of Year	$193	$184	$152
Charged to Costs and Expenses	492	691	368
Charged to Other Accounts	0	0	0
Deductions	583	682	336
Balance at End of Year	$102	$193	$184

Real_Estate_and_Accumulated_De1

Real Estate and Accumulated Depreciation Schedule III (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Initial Cost	'		'	'	'
Land	$337,295,000		'	'	'
Buildings and Improvements	1,816,604,000		'	'	'
Costs Subsequent to Acquisition/Construction	16,848,000		'	'	'
Gross Amount carried at the end of the period	2,170,747,000		2,177,429,000	2,066,099,000	537,026,000
Accumulated Depreciation	195,048,000	[1]	123,360,000	42,123,000	13,941,000
Encumbrances	985,726,000	[2]	'	'	'
Outstanding balance of mortgage loans and credit facility	10,000,000		'	'	'
Unamortized adjustment from business combinations	6,700,000		'	'	'
Minimum	'		'	'	'
Initial Cost	'		'	'	'
Depreciable life of properties	'25 years		'	'	'
Minimum \| Improvements	'		'	'	'
Initial Cost	'		'	'	'
Depreciable life of properties	'3 years		'	'	'
Maximum	'		'	'	'
Initial Cost	'		'	'	'
Depreciable life of properties	'35 years		'	'	'
Maximum \| Improvements	'		'	'	'
Initial Cost	'		'	'	'
Depreciable life of properties	'15 years		'	'	'
4550 Cherry Creek	'		'	'	'
Initial Cost	'		'	'	'
Land	7,910,000	[3]	'	'	'
Buildings and Improvements	70,184,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	479,000	[3]	'	'	'
Gross Amount carried at the end of the period	78,573,000	[3]	'	'	'
Accumulated Depreciation	7,123,000	[1],[3]	'	'	'
Encumbrances	28,600,000	[2],[3]	'	'	'
55 Hundred	'		'	'	'
Initial Cost	'		'	'	'
Land	13,196,000	[3]	'	'	'
Buildings and Improvements	67,515,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	38,000	[3]	'	'	'
Gross Amount carried at the end of the period	80,749,000	[3]	'	'	'
Accumulated Depreciation	6,661,000	[1],[3]	'	'	'
Encumbrances	41,750,000	[2],[3]	'	'	'
7166 at Belmar	'		'	'	'
Initial Cost	'		'	'	'
Land	3,385,000	[3]	'	'	'
Buildings and Improvements	52,298,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	1,252,000	[3]	'	'	'
Gross Amount carried at the end of the period	56,935,000	[3]	'	'	'
Accumulated Depreciation	5,179,000	[1],[3]	'	'	'
Encumbrances	22,825,000	[2],[3]	'	'	'
Acacia on Santa Rosa Creek	'		'	'	'
Initial Cost	'		'	'	'
Land	8,100,000		'	'	'
Buildings and Improvements	29,512,000		'	'	'
Costs Subsequent to Acquisition/Construction	1,128,000		'	'	'
Gross Amount carried at the end of the period	38,740,000		'	'	'
Accumulated Depreciation	5,643,000	[1]	'	'	'
Encumbrances	29,000,000	[2]	'	'	'
Acappella	'		'	'	'
Initial Cost	'		'	'	'
Land	8,000,000		'	'	'
Buildings and Improvements	46,973,000		'	'	'
Costs Subsequent to Acquisition/Construction	274,000		'	'	'
Gross Amount carried at the end of the period	55,247,000		'	'	'
Accumulated Depreciation	6,945,000	[1]	'	'	'
Encumbrances	30,250,000	[2]	'	'	'
Allegro	'		'	'	'
Initial Cost	'		'	'	'
Land	3,900,000	[4]	'	'	'
Buildings and Improvements	55,355,000	[4]	'	'	'
Costs Subsequent to Acquisition/Construction	1,143,000	[4]	'	'	'
Gross Amount carried at the end of the period	60,398,000	[4]	'	'	'
Accumulated Depreciation	6,014,000	[1],[4]	'	'	'
Encumbrances	24,000,000	[2],[4]	'	'	'
Allegro-second phase	'		'	'	'
Initial Cost	'		'	'	'
Number of units in real estate property	121		'	'	'
Argenta	'		'	'	'
Initial Cost	'		'	'	'
Land	11,100,000		'	'	'
Buildings and Improvements	81,624,000		'	'	'
Costs Subsequent to Acquisition/Construction	1,173,000		'	'	'
Gross Amount carried at the end of the period	93,897,000		'	'	'
Accumulated Depreciation	9,306,000	[1]	'	'	'
Encumbrances	51,000,000	[2]	'	'	'
Bailey's Crossing	'		'	'	'
Initial Cost	'		'	'	'
Land	22,214,000	[3]	'	'	'
Buildings and Improvements	108,145,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	447,000	[3]	'	'	'
Gross Amount carried at the end of the period	130,806,000	[3]	'	'	'
Accumulated Depreciation	10,668,000	[1],[3]	'	'	'
Encumbrances	76,000,000	[2],[3]	'	'	'
Briar Forest Lofts	'		'	'	'
Initial Cost	'		'	'	'
Land	4,623,000	[3]	'	'	'
Buildings and Improvements	40,155,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	181,000	[3]	'	'	'
Gross Amount carried at the end of the period	44,959,000	[3]	'	'	'
Accumulated Depreciation	4,031,000	[1],[3]	'	'	'
Encumbrances	20,916,000	[2],[3]	'	'	'
Burnham Pointe	'		'	'	'
Initial Cost	'		'	'	'
Land	10,400,000		'	'	'
Buildings and Improvements	75,960,000		'	'	'
Costs Subsequent to Acquisition/Construction	1,739,000		'	'	'
Gross Amount carried at the end of the period	88,099,000		'	'	'
Accumulated Depreciation	9,150,000	[1]	'	'	'
Encumbrances	4,594,000	[2]	'	'	'
Burrough's Mill	'		'	'	'
Initial Cost	'		'	'	'
Land	10,075,000	[3]	'	'	'
Buildings and Improvements	51,869,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	333,000	[3]	'	'	'
Gross Amount carried at the end of the period	62,277,000	[3]	'	'	'
Accumulated Depreciation	5,923,000	[1],[3]	'	'	'
Encumbrances	25,234,000	[2],[3]	'	'	'
Calypso Apartments and Lofts	'		'	'	'
Initial Cost	'		'	'	'
Land	13,902,000	[3]	'	'	'
Buildings and Improvements	42,730,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	197,000	[3]	'	'	'
Gross Amount carried at the end of the period	56,829,000	[3]	'	'	'
Accumulated Depreciation	4,253,000	[1],[3]	'	'	'
Encumbrances	24,000,000	[2],[3]	'	'	'
The Cameron	'		'	'	'
Initial Cost	'		'	'	'
Land	25,191,000	[3]	'	'	'
Buildings and Improvements	77,737,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	277,000	[3]	'	'	'
Gross Amount carried at the end of the period	103,205,000	[3]	'	'	'
Accumulated Depreciation	7,414,000	[1],[3]	'	'	'
Encumbrances	65,453,000	[2],[3]	'	'	'
The District Universal Boulevard	'		'	'	'
Initial Cost	'		'	'	'
Land	5,161,000	[3]	'	'	'
Buildings and Improvements	57,448,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	604,000	[3]	'	'	'
Gross Amount carried at the end of the period	63,213,000	[3]	'	'	'
Accumulated Depreciation	5,588,000	[1],[3]	'	'	'
Encumbrances	37,500,000	[2],[3]	'	'	'
Eclipse	'		'	'	'
Initial Cost	'		'	'	'
Land	6,927,000	[3]	'	'	'
Buildings and Improvements	44,078,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	235,000	[3]	'	'	'
Gross Amount carried at the end of the period	51,240,000	[3]	'	'	'
Accumulated Depreciation	4,744,000	[1],[3]	'	'	'
Encumbrances	20,762,000	[2],[3]	'	'	'
Fitzhugh Urban Flats	'		'	'	'
Initial Cost	'		'	'	'
Land	9,394,000	[3]	'	'	'
Buildings and Improvements	48,884,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	363,000	[3]	'	'	'
Gross Amount carried at the end of the period	58,641,000	[3]	'	'	'
Accumulated Depreciation	5,120,000	[1],[3]	'	'	'
Encumbrances	27,848,000	[2],[3]	'	'	'
Forty55 Lofts	'		'	'	'
Initial Cost	'		'	'	'
Land	11,382,000	[3]	'	'	'
Buildings and Improvements	68,966,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	225,000	[3]	'	'	'
Gross Amount carried at the end of the period	80,573,000	[3]	'	'	'
Accumulated Depreciation	6,890,000	[1],[3]	'	'	'
Encumbrances	25,500,000	[2],[3]	'	'	'
The Franklin Delray	'		'	'	'
Initial Cost	'		'	'	'
Land	9,065,000		'	'	'
Buildings and Improvements	24,229,000		'	'	'
Costs Subsequent to Acquisition/Construction	0		'	'	'
Gross Amount carried at the end of the period	33,294,000		'	'	'
Accumulated Depreciation	248,000	[1]	'	'	'
Encumbrances	0	[2]	'	'	'
The Gallery at NoHo Commons	'		'	'	'
Initial Cost	'		'	'	'
Land	28,700,000		'	'	'
Buildings and Improvements	78,309,000		'	'	'
Costs Subsequent to Acquisition/Construction	1,556,000		'	'	'
Gross Amount carried at the end of the period	108,565,000		'	'	'
Accumulated Depreciation	15,567,000	[1]	'	'	'
Encumbrances	51,300,000	[2]	'	'	'
Grand Reserve	'		'	'	'
Initial Cost	'		'	'	'
Land	2,980,000		'	'	'
Buildings and Improvements	29,231,000		'	'	'
Costs Subsequent to Acquisition/Construction	-843,000		'	'	'
Gross Amount carried at the end of the period	31,368,000		'	'	'
Accumulated Depreciation	2,313,000	[1]	'	'	'
Encumbrances	21,000,000	[2]	'	'	'
The Lofts at Park Crest	'		'	'	'
Initial Cost	'		'	'	'
Land	0		'	'	'
Buildings and Improvements	49,737,000		'	'	'
Costs Subsequent to Acquisition/Construction	218,000		'	'	'
Gross Amount carried at the end of the period	49,955,000		'	'	'
Accumulated Depreciation	8,035,000	[1]	'	'	'
Encumbrances	45,316,000	[2]	'	'	'
Pembroke Woods	'		'	'	'
Initial Cost	'		'	'	'
Land	11,520,000		'	'	'
Buildings and Improvements	29,807,000		'	'	'
Costs Subsequent to Acquisition/Construction	899,000		'	'	'
Gross Amount carried at the end of the period	42,226,000		'	'	'
Accumulated Depreciation	2,279,000	[1]	'	'	'
Encumbrances	0	[2]	'	'	'
Renaissance - Phase 1	'		'	'	'
Initial Cost	'		'	'	'
Land	5,786,000	[3]	'	'	'
Buildings and Improvements	33,660,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	647,000	[3]	'	'	'
Gross Amount carried at the end of the period	40,093,000	[3]	'	'	'
Accumulated Depreciation	3,122,000	[1],[3]	'	'	'
Encumbrances	0	[2],[3]	'	'	'
The Reserve at LaVista Walk	'		'	'	'
Initial Cost	'		'	'	'
Land	4,530,000		'	'	'
Buildings and Improvements	34,159,000		'	'	'
Costs Subsequent to Acquisition/Construction	784,000		'	'	'
Gross Amount carried at the end of the period	39,473,000		'	'	'
Accumulated Depreciation	5,106,000	[1]	'	'	'
Encumbrances	2,058,000	[2]	'	'	'
San Sebastian	'		'	'	'
Initial Cost	'		'	'	'
Land	7,841,000	[3]	'	'	'
Buildings and Improvements	29,037,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	95,000	[3]	'	'	'
Gross Amount carried at the end of the period	36,973,000	[3]	'	'	'
Accumulated Depreciation	3,433,000	[1],[3]	'	'	'
Encumbrances	21,000,000	[2],[3]	'	'	'
Satori	'		'	'	'
Initial Cost	'		'	'	'
Land	8,223,000	[3]	'	'	'
Buildings and Improvements	75,126,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	311,000	[3]	'	'	'
Gross Amount carried at the end of the period	83,660,000	[3]	'	'	'
Accumulated Depreciation	7,610,000	[1],[3]	'	'	'
Encumbrances	51,000,000	[2],[3]	'	'	'
Skye 2905	'		'	'	'
Initial Cost	'		'	'	'
Land	13,831,000	[3]	'	'	'
Buildings and Improvements	87,491,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	-253,000	[3]	'	'	'
Gross Amount carried at the end of the period	101,069,000	[3]	'	'	'
Accumulated Depreciation	8,329,000	[1],[3]	'	'	'
Encumbrances	56,100,000	[2],[3]	'	'	'
Stone Gate	'		'	'	'
Initial Cost	'		'	'	'
Land	8,300,000		'	'	'
Buildings and Improvements	54,634,000		'	'	'
Costs Subsequent to Acquisition/Construction	1,307,000		'	'	'
Gross Amount carried at the end of the period	64,241,000		'	'	'
Accumulated Depreciation	6,324,000	[1]	'	'	'
Encumbrances	35,443,000	[2]	'	'	'
Tupelo Alley	'		'	'	'
Initial Cost	'		'	'	'
Land	6,348,000	[3]	'	'	'
Buildings and Improvements	33,317,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	180,000	[3]	'	'	'
Gross Amount carried at the end of the period	39,845,000	[3]	'	'	'
Accumulated Depreciation	3,293,000	[1],[3]	'	'	'
Encumbrances	19,250,000	[2],[3]	'	'	'
Uptown Post Oak	'		'	'	'
Initial Cost	'		'	'	'
Land	23,340,000		'	'	'
Buildings and Improvements	40,010,000		'	'	'
Costs Subsequent to Acquisition/Construction	864,000		'	'	'
Gross Amount carried at the end of the period	64,214,000		'	'	'
Accumulated Depreciation	6,713,000	[1]	'	'	'
Encumbrances	3,348,000	[2]	'	'	'
Vara [Member]	'		'	'	'
Initial Cost	'		'	'	'
Land	20,200,000		'	'	'
Buildings and Improvements	88,500,000		'	'	'
Costs Subsequent to Acquisition/Construction	149,000		'	'	'
Gross Amount carried at the end of the period	108,849,000		'	'	'
Accumulated Depreciation	1,643,000	[1]	'	'	'
Encumbrances	57,000,000	[2]	'	'	'
The Venue	'		'	'	'
Initial Cost	'		'	'	'
Land	1,520,000	[3]	'	'	'
Buildings and Improvements	24,249,000	[3]	'	'	'
Costs Subsequent to Acquisition/Construction	162,000	[3]	'	'	'
Gross Amount carried at the end of the period	25,931,000	[3]	'	'	'
Accumulated Depreciation	2,504,000	[1],[3]	'	'	'
Encumbrances	10,500,000	[2],[3]	'	'	'
Veritas	'		'	'	'
Initial Cost	'		'	'	'
Land	4,950,000		'	'	'
Buildings and Improvements	55,607,000		'	'	'
Costs Subsequent to Acquisition/Construction	138,000		'	'	'
Gross Amount carried at the end of the period	60,695,000		'	'	'
Accumulated Depreciation	4,170,000	[1]	'	'	'
Encumbrances	36,437,000	[2]	'	'	'
West Village	'		'	'	'
Initial Cost	'		'	'	'
Land	5,301,000		'	'	'
Buildings and Improvements	30,068,000		'	'	'
Costs Subsequent to Acquisition/Construction	546,000		'	'	'
Gross Amount carried at the end of the period	35,915,000		'	'	'
Accumulated Depreciation	3,707,000	[1]	'	'	'
Encumbrances	$20,742,000	[2]	'	'	'

[1]	Each of our properties has a depreciable life of 25 to 35B years. Improvements have depreciable lives ranging from 3 to 15B years.
[2]	Encumbrances include mortgages and notes payable and our credit facility which had an outstanding balance of $10.0 million as of DecemberB 31, 2013. The credit facility is collateralized by the following properties: Burnham Pointe, The Reserve at La Vista Walk and Uptown Post Oak. The credit facility balance was allocated to each property based upon its relative gross real estate amount carried at DecemberB 31, 2013. Encumbrances related to mortgage loans excludes the $6.7 million of unamortized adjustment from business combinations as of DecemberB 31, 2013.
[3]	Property is owned through a Co-Investment Venture. Initial cost is the cost recorded at time of consolidation. Year acquired is the year the property was consolidated.
[4]	During 2013, we completed development of the second phase of Allegro which added an additional 121 units. The property was initially completed in 2010

Real_Estate_and_Accumulated_De2

Real Estate and Accumulated Depreciation Schedule III (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011
Real Estate:	'		'	'
Balance at beginning of year	$2,177,429		$2,066,099	$537,026
Additions, Acquisitions and/or consolidation of joint ventures	163,401		140,069	1,637,647
Deductions, Sale of real estate property	-170,083		-28,739	-108,574
Balance at end of year	2,170,747		2,177,429	2,066,099
Accumulated Depreciation:	'		'	'
Balance at beginning of year	123,360		42,123	13,941
Depreciation expense	85,054		83,909	28,182
Deductions	-13,366		-2,672	0
Balance at end of year	$195,048	[1]	$123,360	$42,123

[1]	Each of our properties has a depreciable life of 25 to 35B years. Improvements have depreciable lives ranging from 3 to 15B years.

Mortgage_Loans_on_Real_Estate_1

Mortgage Loans on Real Estate Schedule IV (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2011

Dec. 31, 2010

Dec. 31, 2013

In Thousands, unless otherwise specified

Mezzanine notes due on December 2015

Mezzanine notes due on January 2016

Mezzanine notes due on August 2015

Mezzanine notes due on September 2016

Mortgage Loans on Real Estate

Interest rate (as a percent)

14.50%

15.00%

14.50%

15.00%

Face Amount of Note

$59,001

$22,712

$12,300

$9,000

$14,989

Carrying Amount of Note

52,811

[1]

36,040

24,351

2,633

22,587

[1]

12,302

[1]

9,000

[1]

8,922

[1]

Principal Amount of Loans Subject to Delinquent Principal or Interest

[1]

Differences between the face amount and the carrying amount of the notes are unfunded commitments under the mezzanine loans and discounts recorded in connection with the business combination and capitalized acquisition costs, including unearned fee income.

Mortgage_Loans_on_Real_Estate_2

Mortgage Loans on Real Estate Schedule IV (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2013		Dec. 31, 2012	Dec. 31, 2011
Reconciliation of the Carrying Amount of Mortgage Loans:	'		'	'
Balance at the beginning of the period	$36,040		$24,351	$2,633
Additions:	'		'	'
New mortgage loans, including advances under mezzanine loans	40,078		37,789	22,148
Mortgage loan from business combination	'		'	3,000
Accrued interest	'		'	333
Capitalized acquisition costs, net of unearned fee income Deduction during 2012:	-31		-61	384
Deductions:	'		'	'
Note receivable converted into equity investment	-4,880		-5,926	-3,960
Collections of principal and loan payoffs	-18,425		-19,760	'
Amortization of acquisition costs and fee income	29		-353	-187
Balance at the end of the period	$52,811	[1]	$36,040	$24,351

[1]	Differences between the face amount and the carrying amount of the notes are unfunded commitments under the mezzanine loans and discounts recorded in connection with the business combination and capitalized acquisition costs, including unearned fee income.