Monogram Residential Trust (BHORL) 10-K 26 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
	Dec. 31, 2014	Feb. 28, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Monogram Residential Trust, Inc.
Entity Central Index Key	1384710
Document Type	10-K
Document Period End Date	31-Dec-14
Amendment Flag	FALSE
Current Fiscal Year End Date	-19
Entity Current Reporting Status	Yes
Entity Filer Category	Non-accelerated Filer
Entity Common Stock, Shares Outstanding		166,520,905
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Public Float			$0

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Real estate
Land ($58,938 related to VIEs as of December 31, 2014)	$389,885	$337,295
Buildings and improvements ($227,817 related to VIEs as of December 31, 2014)	2,033,819	1,833,452
Total real estate, gross	2,423,704	2,170,747
Less accumulated depreciation ($4,605 related to VIEs as of December 31, 2014)	-280,400	-195,048
Net operating real estate	2,143,304	1,975,699
Construction in progress, including land ($582,299 and $279,554 related to VIEs as of December 31, 2014 and 2013, respectively)	716,930	479,214
Total real estate, net	2,860,234	2,454,913
Cash and cash equivalents	116,407	319,368
Intangibles, net	21,485	25,753
Other assets, net	110,282	98,567
Total assets	3,108,408	2,898,601
Liabilities
Mortgages and notes payable ($227,310 and $32,168 related to VIEs as of December 31, 2014 and 2013, respectively)	1,186,481	1,029,111
Credit facility payable	10,000	10,000
Construction costs payable ($63,393 and $27,054 related to VIEs as of December 31, 2014 and 2013, respectively)	75,623	44,684
Accounts payable and other liabilities	28,053	30,972
Deferred revenues, primarily lease revenues, net	18,955	18,382
Distributions payable	12,485	5,023
Tenant security deposits	4,586	4,122
Total liabilities	1,336,183	1,142,294
Commitments and contingencies
Redeemable noncontrolling interests ($27,444 and $13,007 related to VIEs as of December 31, 2014 and 2013, respectively)	32,012	21,984
Equity
Preferred stock, $0.0001 par value per share; 125,000,000 and 124,999,000 shares authorized as of December 31, 2014 and 2013, respectively: 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, 2014 and 2013	0	0
Common stock, $0.0001 par value per share; 875,000,000 shares authorized, 166,467,726 and 168,320,207 shares issued and outstanding as of December 31, 2014 and 2013, respectively	17	17
Additional paid-in capital	1,492,799	1,508,655
Cumulative distributions and net income (loss)	-293,350	-230,554
Total equity attributable to common stockholders	1,199,466	1,278,118
Non-redeemable noncontrolling interests	540,747	456,205
Total equity	1,740,213	1,734,323
Total liabilities and equity	$3,108,408	$2,898,601

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	12 Months Ended
In Thousands, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Land	$389,885	$337,295
Buildings and improvements	2,033,819	1,833,452
Less accumulated depreciation	-280,400	-195,048
Construction in progress	716,930	479,214
Mortgages and notes payable	1,186,481	1,029,111
Construction costs payable	75,623	44,684
Redeemable noncontrolling interests	32,012	21,984
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	125,000,000	124,999,000
Preferred stock, shares issued	10,000	10,000
Preferred stock, shares outstanding	10,000	10,000
Preferred stock, liquidation preference per share	$10
Preferred stock, dividend rate, percentage	7.00%
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	166,467,726	168,320,207
Common stock, shares outstanding	166,467,726	168,320,207
VIEs
Land	58,938
Buildings and improvements	227,817
Less accumulated depreciation	-4,605
Construction in progress	582,299	279,554
Mortgages and notes payable	227,310	32,168
Construction costs payable	63,393	27,054
Redeemable noncontrolling interests	$27,444	$13,007

Consolidated_Statements_of_Ope

Consolidated Statements of Operations (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement [Abstract]
Rental revenues	$209,025	$190,624	$171,762
Expenses
Property operating expenses	55,940	51,027	46,426
Real estate taxes	29,842	24,740	21,579
Asset management fees	3,843	7,673	6,622
General and administrative expenses	15,627	11,373	10,762
Acquisition expenses	-17	3,677	2,508
Transition expenses	12,672	9,003	0
Investment and development expenses	1,197	553	0
Interest expense	21,424	23,844	31,376
Depreciation and amortization	95,794	86,110	99,716
Total expenses	236,322	218,000	218,989
Interest income	10,554	8,507	7,227
Gain on revaluation of equity on a business combination	0	0	1,723
Loss on early extinguishment of debt	-230	0	-502
Equity in income (loss) of investments in unconsolidated real estate joint ventures	770	1,311	-1,247
Other income (expense)	63	92	-819
Loss from continuing operations before gain on sale of real estate	-16,140	-17,466	-40,845
Gain on sale of real estate	16,411	0	0
Income (loss) from continuing operations	271	-17,466	-40,845
Income (loss) from discontinued operations:
Loss from discontinued operations	0	-724	-2,660
Gains on sale of real estate in discontinued operations	0	50,779	13,312
Income from discontinued operations	0	50,055	10,652
Net income (loss)	271	32,589	-30,193
Net (income) loss attributable to noncontrolling interests:
Redeemable noncontrolling interests in continuing operations	0	0	1,825
Non-redeemable noncontrolling interests in continuing operations	-6,388	3,938	14,119
Non-redeemable noncontrolling interests in discontinued operations	0	-6,832	1,735
Net income (loss) available to the Company	-6,117	29,695	-12,514
Dividends to preferred stockholders	-7	-3	0
Net income (loss) attributable to common stockholders	-6,124	29,692	-12,514
Weighted average number of common shares outstanding - basic	168,793	168,650	166,178
Weighted average number of common shares outstanding - diluted	169,029	168,650	166,178
Basic and diluted income (loss) per common share:
Continuing operations (in dollars per share)	($0.04)	($0.08)	($0.15)
Discontinued operations (in dollars per share)	$0	$0.26	$0.07
Basic and diluted income per common share (in dollars per share)	($0.04)	$0.18	($0.08)
Amounts attributable to common stockholders:
Continuing operations	-6,124	-13,531	-24,901
Discontinued operations	0	43,223	12,387
Net income (loss) attributable to common stockholders	($6,124)	$29,692	($12,514)

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (USD $)	Total	Convertible Stock	Preferred Stock	Common Stock	Additional Paid-in Capital	Noncontrolling Interests	Cumulative Distributions and Net Income (Loss) Available to the Company
In Thousands, unless otherwise specified	USD ($)			USD ($)	USD ($)	USD ($)	USD ($)
Balance at Dec. 31, 2011	$1,805,008			$17	$1,502,010	$413,071	($110,090)
Balance (in shares) at Dec. 31, 2011		1	0	165,087
Increase (Decrease) in Stockholders' Equity
Net income (loss)	-30,193					-15,854	-12,514
Profit (Loss) Including Temporary Equity Net Income (Loss)	-28,368
Redemptions of common stock	-15,522				-15,522
Redemptions of common stock (in shares)	-1,700			-1,734
Acquisition of controlling interest	1,018					1,018
Acquisition of a noncontrolling interest	-13,503				-3,746	-9,757
Sale of noncontrolling interests	0				1,178	-1,178
Contributions by noncontrolling interests	7,783					7,783
Distributions:
Common stock - regular	-68,638						-68,638
Common stock - special	-9,969						-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	0	167,542
Increase (Decrease) in Stockholders' Equity
Net income (loss)	32,589					2,894	29,695
Redemptions of common stock	-22,936				-22,936
Redemptions of common stock (in shares)	-2,500			-2,483
Acquisition of a noncontrolling interest	-35,972				-23,210	-12,762
Sale of noncontrolling interests	5,898				148	5,750
Contributions by noncontrolling interests	146,276					146,276
Distributions:
Common stock - regular	-59,035						-59,035
Noncontrolling interests	-51,303					-51,303
Preferred stock	-3						-3
Issuance of preferred stock (in shares)			10
Cancellation of convertible stock		-1
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		0	10	168,320
Increase (Decrease) in Stockholders' Equity
Net income (loss)	271					6,388	-6,117
Redemptions of common stock	-36,294				-36,294
Redemptions of common stock (in shares)	-1,600			-4,002
Sale of noncontrolling interests	14,166				-842	15,008
Contributions by noncontrolling interests	111,187					111,187
Amortization of stock-based compensation	790				790
Distributions:
Common stock - regular	-56,672						-56,672
Noncontrolling interests	-48,041					-48,041
Preferred stock	-7						-7
Stock issued pursuant to distribution reinvestment plan, net	20,490				20,490
Stock issued pursuant to distribution reinvestment plan, net (in shares)				2,150
Balance at Dec. 31, 2014	$1,740,213			$17	$1,492,799	$540,747	($293,350)
Balance (in shares) at Dec. 31, 2014		0	10	166,468

Consolidated_Statements_of_Equ1

Consolidated Statements of Equity (Parenthetical) (USD $)	12 Months Ended			30 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2014
Statement of Stockholders' Equity [Abstract]
Common stock - regular, dividends, cash paid (in dollars per share)	$0.34	$0.35	$0.41	$0.35

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities
Net income (loss)	$271	$32,589	($30,193)
Adjustments to reconcile net income to net cash provided by operating activities:
Gain on revaluation of equity on a business combination	0	0	-1,723
Gain on sale of real estate	-16,411	-50,779	-13,312
Loss on early extinguishment of debt	230	0	502
Equity in income (loss) of investments in unconsolidated real estate joint ventures	-770	-1,311	1,247
Distributions received from investment in unconsolidated real estate joint venture	300	460	170
Depreciation	89,113	85,054	83,909
Amortization of deferred financing costs and debt premium/discount	-1,462	-1,618	-950
Amortization of intangibles	4,185	2,394	23,606
Amortization of deferred revenues, primarily lease revenues, net	2,728	-1,480	-1,406
Amortization of stock-based compensation	790	0	0
Other, net	366	663	1,073
Changes in operating assets and liabilities:
Accounts payable and other liabilities	-3,200	10,992	2,286
Other assets	-8,420	-305	-1,858
Cash provided by operating activities	67,720	76,659	63,351
Additions to real estate:
Acquisition of real estate	0	-108,014	-67,583
Additions to existing real estate	-6,242	-6,934	-6,629
Construction in progress, including land	-474,260	-325,964	-123,863
Proceeds from sale of real estate, net	33,379	205,336	23,902
Investments in unconsolidated real estate joint ventures	0	-4,810	-3,119
Acquisition of a controlling interest, net of cash acquired of $0.6 million for the year ended December 31, 2013	0	-8,643	0
Acquisitions of noncontrolling interests	-6,150	-49,036	-20,324
Sale of noncontrolling interest	0	7,272	0
Investment in short-term investments	0	0	-25,000
Proceeds from short-term investments	0	0	25,000
Advances on notes receivable	-6,012	-31,078	-37,789
Collection on note receivable	219	18,618	19,930
Escrow deposits	4,688	-2,842	-5,025
Other, net	-25	-544	-1,115
Cash used in investing activities	-454,403	-306,639	-221,615
Cash flows from financing activities
Mortgage and notes payable proceeds	208,686	128,664	233,753
Mortgage and notes payable principal payments	-38,820	-75,314	-202,688
Contributions from noncontrolling interests	126,916	153,496	13,205
Distributions paid on common stock - regular	-28,718	-27,983	-32,344
Distributions paid on common stock - special	0	0	-9,969
Distributions paid to noncontrolling interests	-48,041	-51,303	-29,733
Dividends paid on preferred stock	-7	-3	0
Redemptions of common stock	-36,294	-22,936	-15,522
Other, net	0	-5,917	-3,289
Cash provided by (used in) financing activities	183,722	98,704	-46,587
Net change in cash and cash equivalents	-202,961	-131,276	-204,851
Cash and cash equivalents at beginning of period	319,368	450,644	655,495
Cash and cash equivalents at end of period	$116,407	$319,368	$450,644

Consolidated_Statements_of_Cas1

Consolidated Statements of Cash Flows (Parenthetical) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2013
Statement of Cash Flows [Abstract]
Cash acquired from acquisition	$0.60

Organization_and_Business

Organization and Business	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Organization and Business	Organization and Business
	Organization
	Monogram Residential Trust, Inc. (formerly known as 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.  Effective as of June 30, 2014, we became a self-managed real estate investment trust (“REIT”) as further described below. We invest in stabilized operating properties and properties in various phases of development, with a focus on communities in select markets across the United States. These include luxury mid-rise, high-rise and garden style multifamily communities.  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 with the intent to transition those properties to core properties.  Further, we may invest in other real estate-related securities, including mortgage, bridge, mezzanine 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 and were externally managed by Behringer Harvard Multifamily Advisors I, LLC, our former external advisor, and were supported by related party service agreements with our former external advisor and its affiliates (collectively “Behringer”). Through July 31, 2013, we exclusively relied on Behringer to provide certain services and personnel for management and day-to-day operations, including advisory services and property management services.
	Effective July 31, 2013, we entered into a series of agreements with Behringer initiating our transition to self-management (the “Self-Management Transition Agreements”). On August 1, 2013, we hired five executives who were previously employees of Behringer and subsequently began hiring additional employees. We closed the Self-Management Transition Agreements on June 30, 2014, paying $5.2 million and effectively terminating substantially all advisory and property management services provided by Behringer. Effective July 1, 2014, we hired the remaining professionals and staff providing advisory and property management services to us that were previously employees of Behringer and began operating as a self-managed, independent company. On November 21, 2014, we listed our shares of common stock on the New York Stock Exchange (the “NYSE”) under the ticker symbol “MORE.”
	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 may also include debt investments, consisting of mezzanine, bridge 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, 2014, we have equity and debt investments in 56 multifamily communities, of which 34 are stabilized operating multifamily communities and 22 are in lease up and in various stages of pre-development and construction. Of the 56 multifamily communities, we wholly own seven multifamily communities and three debt investments for a total of 10 wholly owned investments.  The remaining 46 investments are held through Co-Investment Ventures, 45 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, 2014, 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 that also include Developer Partners are referred to as PGGM CO-JVs.
	Prior to July 31, 2013, PGGM’s interest in the PGGM CO-JVs was held through Monogram Residential Master Partnership I LP (the “Master Partnership”), in which PGGM held a 99% limited partner interest and an affiliate of Behringer 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 Behringer for $23.1 million (effectively increasing our ownership interest in each applicable PGGM CO-JV) and consolidated the Master Partnership. Our acquisition of the GP Master Interest on July 31, 2013, resulted in the PGGM Co-Investment Partner becoming our partner in these Co-Investment Ventures as of July 31, 2013.  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. For the year ended December 31, 2014, we also sold a non-controlling interest in two additional Developer CO-JVs to PGGM for $13.2 million and sold our entire interest in the Tupelo PGGM CO-JV to an unaffiliated third party.
	The table below presents a summary of our Co-Investment Ventures. The effective ownership ranges are based on our participation in the distributable cash from 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.
			31-Dec-14		December 31, 2013
	Co-Investment Structure		Number of Multifamily Communities	Our Effective	Number of Multifamily Communities	Our Effective
				Ownership		Ownership
	PGGM CO-JVs (a)		30	50% to 74%	27	44% to 74%
	MW CO-JVs		14	55%	14	55%
	Developer CO-JVs		2	100%	4	90% to 100%
	Total		46		45
	(a)	Includes one unconsolidated investment as of December 31, 2014 and December 31, 2013. Also, as of December 31, 2014 and December 31, 2013, includes Developer Partners in 19 and 16 multifamily communities, respectively.
	We have elected to be taxed, and currently qualify, as a 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, 2014, we believe we are in compliance with all applicable REIT requirements.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2014
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, as defined by U.S. generally accepted accounting principles (“GAAP”), 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 net operating income capitalization rates, 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, 2014.
	Developments
	We capitalize project costs related to the development and construction of real estate (including interest, real estate 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.
	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 did not capitalize any interest expense related to investments in unconsolidated real estate joint ventures for the years ended December 31, 2014, 2013 or 2012.
	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, 2014, 2013 or 2012.
	Assets Held for Sale and Discontinued Operations
	Prior to January 1, 2014, when we had no involvement after the sale of a multifamily community, the multifamily community sold was reported as a discontinued operation.  Effective as of January 1, 2014, we adopted the revised guidance regarding discontinued operations as further discussed in Note 3, “New Accounting Pronouncements.” For sales of real estate or assets classified as held for sale after January 1, 2014, we evaluate whether the disposition will have a major effect on our operations and financial results and will therefore qualify as a strategic shift. If the disposition represents a strategic shift, it will be classified as discontinued operations in our consolidated statements of operations for all periods presented. If the disposition does not represent a strategic shift, it will be presented in continuing operations in our consolidated statements of operations.
	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, 2014 and December 31, 2013, cash and cash equivalents include $42.0 million and $25.6 million, respectively, held by the Master Partnership and individual Co-Investment Ventures that are available only for use in the business of the Master Partnership and 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 or (b) the redemption value with subsequent adjustments.  The redeemable noncontrolling interests are temporary equity not within our control and are 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 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 direct 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 notes receivable, deferred financing costs, equity method investments, accounts receivable, restricted cash, interest rate caps, prepaid assets and deposits.  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. 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.    As of and for the years ended December 31, 2014 and 2013, 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.  Through June 30, 2014, pursuant to our advisory management agreement, Behringer was obligated to reimburse us for all investment-related expenses that the Company pursued but ultimately did not consummate.  Prior to the determination of its status, amounts incurred were recorded in other assets.
	Transition Expenses
	Transition expenses include expenses directly and specifically 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, name change, notices, transition-related insurance, information technology and facilities), expenses related to our listing on the NYSE and payments to Behringer in connection with the transition to self-management discussed further in Note 13, “Transition Expenses.”
	Income Taxes
	We have elected to be taxed as a REIT under 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 intend to operate in such a manner as to continue to qualify for taxation as a REIT, 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 taxes associated with our TRS for the years ended December 31, 2014, 2013 or 2012.
	We have evaluated the current and deferred income tax related to state taxes with respect to which we do not have a REIT exemption, and we have no significant tax liability or benefit as of December 31, 2014 or December 31, 2013.
	The carrying amounts of our assets and liabilities for financial statement purposes differ from our basis for federal income taxes due to tax accounting in 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, intangibles, other assets, mortgages and notes payable and deferred revenues, primarily lease revenues, net. As a result of these differences, the carrying value for financial statement purposes exceeds our net federal income tax basis as of December 31, 2014 by approximately $6.1 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, 2014 and December 31, 2013, 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, 2014 and December 31, 2013, we had cash and cash equivalents deposited in certain financial institutions in excess of federally-insured levels.  We regularly monitor the financial condition of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents.
	Share-based Compensation
	We have a stock-based incentive award plan for our employees and directors. Compensation expense associated with restricted stock units is recognized in general and administrative expenses in our consolidated statements of operations. We measure stock-based compensation at the estimated fair value on the grant date, net of estimated forfeitures, and recognize the amortization of compensation expense over the requisite service period.
	Earnings per Share
	Basic earnings per share is calculated by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting basic earnings per share for the dilutive effect of the assumed exercise of securities, including the effect of shares issuable under our preferred stock and our stock-based incentive plans.  Our unvested share-based awards are considered participating securities and are reflected in the calculation of diluted earnings per share. During periods of net loss, the assumed exercise of securities is anti-dilutive and is not included in the calculation of earnings per share. For all periods presented, any common stock equivalents were anti-dilutive.
	For all periods 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.
	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.
	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 noncontrolling interests and equity in earnings of investments in unconsolidated real estate joint ventures; depreciation and amortization; share-based compensation measurements; and recognition and timing of transition expenses.  Actual results could differ from those estimates.

New_Accounting_Pronouncements

New Accounting Pronouncements	12 Months Ended
	Dec. 31, 2014
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
New Accounting Pronouncements	New Accounting Pronouncements
	In April 2014, the Financial Accounting Standards Board (“FASB”) issued updated guidance for the reporting of discontinued operations and disposals of components of an entity. The guidance revised the definition of a discontinued operation to include those disposals that represent a strategic shift that has or will have a major effect on an entity’s operations and financial results when a component of an entity or a group of components of an entity are classified as held for sale or disposed of by sale or by means other than a sale, such as an abandonment. Examples of a strategic shift could include a disposal of a major geographical area, a major line of business, a major equity method investment, or other major parts of an entity. We have adopted this guidance as of January 1, 2014. As a result of this adoption, the results of operations and gains on sales of real estate from January 1, 2014 forward which do not meet the criteria of a strategic shift that has or will have a major effect on our operations and financial results will be presented as continuing operations in our consolidated statements of operations. Any sales of real estate prior to January 1, 2014 which have been reported in discontinued operations in prior reporting periods will continue to be reported as discontinued operations. We will evaluate future sales of our individual operating properties to determine if they represent a strategic shift but believe most future sales will no longer qualify as discontinued operations.
	In May 2014, the FASB issued updated guidance with respect to revenue recognition. The revised guidance outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes current revenue recognition guidance, including industry-specific revenue guidance.  The revised guidance will replace most existing revenue and real estate sale recognition guidance in GAAP when it becomes effective. The standard specifically excludes lease contracts, which for us is our primary recurring revenue source. The revised guidance allows for the use of either the full or modified retrospective transition method and is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2016. Early adoption is not permitted.  We have not yet selected a transition method and are currently evaluating the effect that the adoption of the revised guidance will have on our consolidated financial statements and related disclosures.
	In June 2014, the FASB issued an update which clarifies that entities should treat performance targets that can be met after the requisite service period of a share-based payment award as performance conditions that affect vesting. The compensation expense related to such awards will be delayed until it becomes probable that the performance target will be met. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted, and may be applied either prospectively or retrospectively. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.
	In August 2014, the FASB issued guidance with respect to management’s responsibility related to evaluating whether there is a substantial doubt about an entity’s ability to continue as a going concern as well as to provide related footnote disclosures. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2016. We are currently evaluating the effects of the newly issued guidance, but we do not believe the adoption of this guidance will have material impact on our disclosures.
	In January 2015, the FASB issued guidance simplifying income statement presentation by eliminating the concept of extraordinary items. An entity will no longer be allowed to separately disclose extraordinary items, net of tax, in the income statement after income from continuing operations if an event or transaction is unusual in nature and occurs infrequently. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015 with early adoption permitted and may be applied either prospectively or retrospectively. We do not believe the adoption of this guidance will have a material impact on our consolidated financial statements.
	In February 2015, the FASB issued updated guidance related to accounting for consolidation of certain limited partnerships. This guidance is effective for fiscal years and interim periods within those years beginning after December 15, 2015, with early adoption permitted. We are currently evaluating the impact this guidance will have on our consolidated financial statements when adopted.

Business_Combinations

Business Combinations	12 Months Ended
	Dec. 31, 2014
Business Combinations [Abstract]
Business Combinations	Business Combinations
	Acquisitions of Real Estate and Other Related Party Interests
	As discussed in Note 1, “Organization and Business,” on July 31, 2013, we acquired the GP Master Interest in a related party transaction with Behringer 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.
	Business Combination Summary Information
	The following tables present certain additional information regarding our business combinations during the year ended December 31, 2013. There were no business combinations during the year ended December 31, 2014.
	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
	Land		$	20.2
	Building and improvements		88.5
	Cash acquired		0.6
	Intangibles (a)		9.2
	Investment in unconsolidated real estate joint venture		6.4
	Other assets		0.1
	Accrued liabilities		(0.9		)
	Noncontrolling interest		(6.8		)
	Cash consideration		$	117.3
	(a)	The intangibles are $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts.
	Certain operating information for the periods from the business combination dates to December 31, 2013 is as follows (in millions):
			For the Periods to December 31, 2013
	Rental revenues		$	2.2
	Acquisition expenses		3.3
	Depreciation and amortization		3.2
	Net loss attributable to common stockholders		(3.1		)
	The following unaudited consolidated pro forma information is presented as if the acquisitions were acquired on January 1, 2013. 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, and acquisition expenses of $3.7 million for the year ended December 31, 2013. 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, 2013, nor does it purport to represent our future operations (in millions, except per share):
			Pro Forma (unaudited)
			For the Year Ended December 31, 2013
	Revenues		$	190.6
	Depreciation and amortization		88.4
	Loss from continuing operations		(6.8		)
	Loss from continuing operations per share		(0.04		)

Real_Estate_Investments

Real Estate Investments	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Real Estate Investments	Real Estate Investments
	Real Estate Investments and Intangibles and Related Depreciation and Amortization
	As of December 31, 2014 and December 31, 2013, major components of our real estate investments and intangibles and related accumulated depreciation and amortization were as follows (in millions):
		December 31, 2014												December 31, 2013
		Buildings				Intangibles								Buildings			Intangibles
		and				In-Place				Other				and			In-Place			Other
		Improvements				Leases				Contractual				Improvements			Leases			Contractual
	Cost	$	2,033.80			$	40.7			$	25.6			$	1,833.40		$	41.9		$	25.6
	Less: accumulated depreciation and amortization	(280.4		)		(38.3		)		(6.5		)		(195.0		)	(39.1		)	(2.6		)
	Net	$	1,753.40			$	2.4			$	19.1			$	1,638.40		$	2.8		$	23
	Depreciation expense for the years ended December 31, 2014, 2013, and 2012 was approximately $88.8 million, $81.8 million, and $76.4 million, respectively.
	Cost of intangibles relates to the value of in-place leases and other contractual intangibles.  Other contractual intangibles as of both December 31, 2014 and December 31, 2013 include $9.2 million of intangibles, primarily asset management and related fee revenue services and contracts related to our acquisition of the GP Master Interest on July 31, 2013, $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, 2014, 2013, and 2012 was approximately $4.2 million, $2.5 million, and $21.5 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
	2015	$	2.8
	2016	1.4
	2017	1.4
	2018	0.5
	2019	0.5
	Developments
	For the years ended December 31, 2014, 2013, and 2012, we capitalized the following amounts of interest, real estate taxes and direct overhead related to our developments (in millions):
		For the Year Ended
		December 31,
		2014				2013				2012
	Interest	$	17.8			$	10.5			$	2.5
	Real estate taxes	4.2				2.4				0.8
	Direct overhead	0.8				0.5				—
	Sales of Real Estate Reported in Continuing Operations
	The following table presents our sale of real estate for the year ended December 31, 2014 (in millions); there were no sales of real estate reported in continuing operations for the years ended December 31, 2013 and 2012:
	Date of Sale	Multifamily Community		Sales Contract Price				Net Cash Proceeds				Gain on Sale of Real Estate
	Feb-14	Tupelo Alley		$	52.9			$	33.4			$	16.4
	The following table presents net income related to the Tupelo Alley multifamily community, sold in the first quarter of 2014, for the years ended December 31, 2014, 2013 and 2012. Net income for the year ended December 31, 2014 includes the gain on sale of real estate (in millions):
		For the Year Ended
		December 31,
		2014				2013				2012
	Net income (loss) from multifamily community sold in 2014	$	16.1			$	(0.1	)		$	(0.9	)
	Less: net income attributable to noncontrolling interest	(7.2		)		—				(0.4		)
	Net income (loss) attributable to common stockholders	$	8.9			$	(0.1	)		$	(1.3	)
	Discontinued Operations
	As discussed in Note 3, “New Accounting Pronouncements,” we have adopted the provisions of the recently issued FASB guidance regarding the reporting of discontinued operations. Accordingly, we have no discontinued operations for the year ended December 31, 2014
	. The following table presents our sales of real estate for the years ended December 31, 2013 and 2012 (in millions), all of which are reported as discontinued operations:
	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
	Jun-13	Halstead		43.5				42.2				11.9
	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
		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
	The table below includes the major classes of line items constituting net loss from discontinued operations, gains on sale of real estate, and depreciation and amortization and capital expenditures for the years ended December 31, 2013 and 2012 for the multifamily communities that have been classified as discontinued operations in the accompanying consolidated statement of operations (in millions):
		For the Year Ended
		December 31,
		2013				2012
	Rental revenue	$	8			$	17.8
	Expenses
	Property operating expenses	2.5				5.4
	Real estate taxes	1.1				2.2
	Interest expense	1				3.1
	Depreciation and amortization	3.3				9.7
	Total expenses	7.9				20.4
	Loss on early extinguishment of debt	(0.8		)		—
Loss from discontinued operations	(0.7		)		(2.6		)
Income attributable to noncontrolling interests	(6.9		)		1.7
Loss from discontinued operations attributable to common stockholders	$	(7.6	)		$	(0.9	)
Gain on sale of real estate	$	50.8			$	13.3
Capital expenditures	$	0.2			$	0.9
Changes in operating and investing noncash items related to discontinued operations were not significant for the years ended December 31, 2013 and 2012.

Variable_Interest_Entities

Variable Interest Entities	12 Months Ended
	Dec. 31, 2014
Variable Interest Entities
Variable Interest Entities	Variable Interest Entities
	As of December 31, 2014 and December 31, 2013, we have concluded that we are the primary beneficiary of 15 and 10 VIEs, respectively.  All of these VIEs are the Property Entities of PGGM CO-JVs or Developer CO-JVs created for the purpose of developing and operating multifamily communities. At the inception of each respective Property Entity, 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 from 2012 through 2014, all of which were related to new financings or 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%.
	The significant amounts of assets and liabilities related to our consolidated VIEs are identified parenthetically on our accompanying consolidated balance sheets. Eleven VIEs, all of which are actively developing or operating multifamily communities, have closed aggregate construction financing of $547.3 million as of December 31, 2014, which has already or will be drawn on during the construction of the developments. As of December 31, 2014, $227.3 million has been drawn under these construction loans. For nine of these construction loans, we have provided partial payment guarantees ranging from 10% to 25% of the total construction loan. The total commitment of these nine construction loans is $494.1 million, of which $177.7 million is outstanding as of December 31, 2014. Each guarantee may terminate or be reduced upon completion of the development or if the development achieves certain operating results. On the other two 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 multifamily community. See Note 9, “Mortgages and Notes Payable” for further information on our construction loans.  The total assets of the VIEs are $906.9 million and $288.0 million as of December 31, 2014 and December 31, 2013, respectively, $582.3 million and $279.6 million of which is reflected in construction in progress, respectively.  The total net operating real estate of the VIEs is $282.1 million as of December 31, 2014. The VIEs did not have operating real estate as of December 31, 2013.

Other_Assets

Other Assets	12 Months Ended
	Dec. 31, 2014
Other Assets [Abstract]
Other Assets	Other Assets
	The components of other assets are as follows (in millions):
			December 31, 2014		31-Dec-13
	Notes receivable, net (a)		$	59.8	$	52.8
	Deferred financing costs, net		17.4		12.1
	Resident, tenant and other receivables (b)		14		8.3
	Escrows and restricted cash		8		12.4
	Prepaid assets, deposits and other assets		6.1		7.5
	Investment in unconsolidated real estate joint venture		5		5.5
	Total other assets		$	110.3	$	98.6
	(a)	Notes receivable include mezzanine loans, primarily related to multifamily development projects.  As of December 31, 2014, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 1.1 years.
	(b)	Includes a receivable from Behringer of $1.8 million as of December 31, 2013. The balance was repaid in February 2014.
	As of December 31, 2014 and December 31, 2013, we had a $5.0 million and $5.5 million, respectively, investment in an unconsolidated joint venture, the Custer PGGM CO-JV, in which our effective ownership 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 collateralized by the development of a 444 unit multifamily community in Allen, Texas, a suburb of Dallas.  The mezzanine loan, which as of December 31, 2014 has been fully funded, has an interest rate of 14.5% and matures in 2015.  As of December 31, 2014, the total assets of the Custer PGGM CO-JV were $5.1 million, and net income for the year ended December 31, 2014 was $0.8 million.

Leasing_Activity

Leasing Activity	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Leasing Activity	Leasing Activity
	In addition to multifamily resident units, certain of our consolidated multifamily communities have retail areas, representing approximately 1% of total rentable area of our consolidated multifamily communities.  Future minimum base rental receipts due to us under these non-cancelable retail leases in effect as of December 31, 2014 are as follows (in millions):
		Future Minimum
	Year	Lease Receipts
	2015	$	3.7
	2016	3.8
	2017	3.7
	2018	3.6
	2019	3.5
	Thereafter	26.4
	Total	$	44.7

Mortgages_and_Notes_Payable

Mortgages and Notes Payable	12 Months Ended
	Dec. 31, 2014
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, 2014 and December 31, 2013 (dollar amounts in millions and monthly LIBOR at December 31, 2014 is 0.17%):
							As of December 31, 2014
			December 31,		December 31,		Wtd. Average
			2014		2013		Interest Rates		Maturity Dates
	Company level (a)
	Fixed rate mortgage payable		$	87.2	$	87.3	3.95%		2018 to 2020
	Variable rate mortgage payable		—		24		—		—
	Variable rate construction loans payable (b)		33		3.1		Monthly LIBOR + 2.15%		2017 to 2018
	Total Company level		120.2		114.4
	Co-Investment Venture level - consolidated (c)
	Fixed rate mortgages payable		827.7		852.3		3.73%		2015 to 2020
	Variable rate mortgage payable		12		12.2		Monthly LIBOR + 2.35%		2017
	Fixed rate construction loans payable (d)		57		24.6		4.16%		2016 to 2018
	Variable rate construction loan payable (e)		165.3		18.9		Monthly LIBOR + 2.15%		2016 to 2018
			1,062.00		908
	Plus: unamortized adjustments from business combinations		4.3		6.7
	Total Co-Investment Venture level - consolidated		1,066.30		914.7
	Total consolidated mortgages and notes payable		$	1,186.50	$	1,029.10
	(a)	Company level debt is defined as debt that is a direct obligation of the Company or its wholly owned subsidiaries. Company level debt includes the applicable portion of Co-Investment debt where the Company has provided full or partial guarantees for the repayment of the debt.
	(b)	Includes the amount of the Co-Investment Venture level construction loans payable that is guaranteed by the Company or its wholly owned subsidiaries. As of December 31, 2014, the Company has partially guaranteed nine loans with total commitments of $494.1 million. These loans include one to two year extension options. Our percentage guarantee on each of these loans ranges from 10% to 25%. The non-recourse portion of these loans outstanding as of December 31, 2014, is reported in the Co-Investment Venture level construction loans payable.
	(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 into a permanent loan with a maturity of 2023.
	(e)	Includes ten loans with total commitments of $516.0 million. These loans include one to two year extension options. The amount guaranteed by the Company is reported as Company level debt as discussed in footnote (b) above.
	As of December 31, 2014, $2.3 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, 2014.
	As of December 31, 2014, 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
	2015		$	0.2	$	83.6	$	83.8
	2016		0.6		185.3		185.9
	2017		12.5		253.8		266.3
	2018		51.9		245.9		297.8
	2019		1.1		219.4		220.5
	Thereafter		53.9		74		127.9
	Total		$	120.2	$	1,062.00	1,182.20
	Add: unamortized adjustments from business combinations						4.3
	Total mortgages and notes payable						$	1,186.50

Credit_Facility_Payable

Credit Facility Payable	12 Months Ended
	Dec. 31, 2014
Line of Credit Facility [Abstract]
Credit Facility Payable	Credit Facility Payable
	The $150.0 million credit facility (the “$150 Million Facility”) matures on April 1, 2017, when all unpaid principal and interest is due.  Borrowing tranches under the $150 Million 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 credit facility’s debt service requirements. As of December 31, 2014, the applicable margin was 2.08% and the base rate was 0.16% based on one-month LIBOR.  The $150 Million 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 $150 Million 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, 2014, $165.5 million of the net carrying value of real estate collateralized the credit facility.  The aggregate borrowings under the $150 Million 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, 2014, we may make total draws of $150.0 million under the $150 Million Facility based upon the value of the collateral pool.
	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, 2014.
	In January 2015, the Company entered into a $200 million revolving credit facility (the “$200 Million Facility”) with a different lender. See further discussion of the $200 Million Facility at Note 18, “Subsequent Events.”

Noncontrolling_Interests

Noncontrolling Interests	12 Months Ended
	Dec. 31, 2014
Noncontrolling Interest [Abstract]
Noncontrolling Interests	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.  Each noncontrolling interest is not redeemable by the holder, and accordingly, is reported as equity. 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.
	As of December 31, 2014 and December 31, 2013, non-redeemable noncontrolling interests (“NCI”) consisted of the following, including the direct and non-direct noncontrolling interests ownership ranges where applicable (dollar amounts in millions):
			December 31, 2014				December 31, 2013
					Effective						Effective
			Amount		NCI % (a)		Amount				NCI % (a)
	PGGM Co-Investment Partner		$	390.5	26% to 45%		$	293.5			26% to 45%
	MW Co-Investment Partner		144.9		45%		157.8				45%
	Developer Partners		3.4		0%		3.5				0% to 10%
	Subsidiary preferred units		1.9		(b)		1.4				(b)
	Total non-redeemable NCI		$	540.7			$	456.2
	(a)        Effective noncontrolling interest percentage is based upon the noncontrolling interest’s participation in distributable operating cash. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements.
	(b)        The preferred units have no voting rights.
	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, the Master Partnership’s and the PGGM CO-JV’s pro rata interests are 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 or the PGGM CO-JVs, as applicable, 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 an asset sale.
	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 subsidiary 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 subsidiary 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 subsidiary 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 years ended December 31, 2014, 2013 and 2012, we paid the following distributions to noncontrolling interests:
			For the Year Ended December 31,
			2014		2013				2012
	Distributions paid to noncontrolling interests:
		Operating activities	$	22.5	$	25			$	20.4
		Investing and financing activities	25.5		26.3				9.3
		Total	$	48	$	51.3			$	29.7
	On February 28, 2014, we sold approximately 37% noncontrolling interest in two Developer CO-JVs to PGGM for $13.2 million. No gain or loss was recognized in recording these transactions, but a net decrease to additional paid-in capital of $0.8 million was recorded.
	During the year ended December 31, 2014, we formed two new PGGM CO-JVs to develop two separate multifamily communities in California.
	On July 31, 2013, we acquired the GP Master Interest in a related party transaction with Behringer 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. Additionally, during the year ended December 31, 2013, we acquired all of the noncontrolling interests in the Cyan MW CO-JV for $27.9 million in cash and sold a portion of our 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 decrease to additional paid-in capital of $23.1 million was recorded. (See Note 4, “Business Combinations” for a discussion of the acquisition of the GP Master Interest and Note 5, “Real Estate Investments” for a discussion of the subsequent sale of the Cyan multifamily community.)
	Redeemable Noncontrolling Interests
	As of December 31, 2014 and December 31, 2013, redeemable noncontrolling interests (“NCI”) consisted of the following (dollar amounts in millions):
			December 31, 2014				December 31, 2013
					Effective						Effective
			Amount		NCI % (a)		Amount				NCI % (a)
	Developer Partners		$	32	0% to 10%		$	22			0% to 20%
	(a)        Effective noncontrolling interest percentage is based upon the noncontrolling interest’s participation in distributable operating cash.  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 Partners included in redeemable noncontrolling interests represent ownership interests in Developer CO-JVs by regional or national multifamily developers, which may require that we pay or reimburse our Developer 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 at the then current fair value.  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.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity
	Capitalization
	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 Stockholder may convert its shares of Series A Preferred Stock into shares of our common stock upon a change of control of the Company or upon election by the holders of a majority of the then outstanding shares of Series A Preferred Stock on or before December 31, 2016. At conversion, 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 17.25% of the excess, if any, of (i) (a) the per share value of our common stock at the time of conversion, 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. The conversion option terminates December 31, 2016.
	Stock Plans
	The Monogram Residential Trust, Inc. Second Amended and Restated 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 20 million shares has been authorized and reserved for issuance under the Incentive Award Plan as of December 31, 2014.
	During 2014, our independent directors and certain executive employees have been granted 248,691 restricted stock units. These restricted stock units generally vest over a three year period. Compensation cost is measured at the grant date based on the estimated fair value at the time of the award being granted and will be recognized as expense over the service period based on the tiered lapse schedule and estimated forfeiture rates. No restricted stock units were granted in 2013 or 2012.
	For the year ended December 31, 2014, we had approximately $0.8 million in compensation costs related to share-based payments including dividend equivalent payments. For the years ended December 31, 2013 and 2012, we had no compensation cost related to share-based payments.
	Distributions
	On August 12, 2014, in anticipation of the Company’s listing on a national securities exchange, our board of directors elected to suspend our distribution reinvestment plan (“DRIP”) effective August 24, 2014, and on November 4, 2014, our board of directors approved the termination of the DRIP. As a result, all distributions paid subsequent to August 24, 2014 were paid in cash and not reinvested in shares of our common stock.
	From April 1, 2012 through September 30, 2014, our distributions were in a daily amount of $0.000958904 ($0.35 annualized) per share of common stock. However, beginning with the fourth quarter of 2014, the board of directors will authorize regular distributions to be paid to stockholders of record with respect to a single record date each quarter. Our board of directors has authorized a distribution in the amount of $0.075 per share on all outstanding shares of common stock of the Company for the fourth quarter of 2014. The distribution was paid on January 5, 2015 to stockholders of record at the close of business on December 29, 2014.
	For the year ended December 31, 2012, we paid a special distribution of $10.0 million to common stockholders in connection with the sale of a multifamily community. There were no special distributions paid for the years ended December 31, 2014 and 2013.
	Share Redemption Program
	On August 12, 2014, in anticipation of the Company’s listing on a national securities exchange, our board of directors also elected to suspend our share redemption program (“SRP”), effective August 14, 2014, and on November 4, 2014, our board of directors approved the termination of the SRP.
	Prior to the suspension and subsequent termination of our SRP, the purchase price per share redeemed under the SRP was generally set at 85% of the then-current estimated share value pursuant to our valuation policy for ordinary redemptions and at the lesser of the then-current estimated share value pursuant to our valuation policy and the average price per share paid by the original purchaser of the shares being redeemed, less any special distributions, pursuant to our valuation policy for redemptions sought upon a stockholder’s death, qualifying disability or confinement to a long-term care facility. Prior to the suspension of our SRP in August 2014 and subsequent termination, we redeemed approximately 1.6 million common shares at an average price of $8.80 per share for $14.2 million for the year ended December 31, 2014. For the year ended December 31, 2013, we redeemed approximately 2.5 million common shares at an average price of $9.24 per share for $22.9 million. For the year ended December 31, 2012, we redeemed approximately 1.7 million common shares at an average price of $9.50 per share for $15.5 million.
	On December 29, 2014, the Company acquired through a tender offer 2.4 million common shares at a price of $9.25 per share for $22.1 million.

Transition_Expenses

Transition Expenses	12 Months Ended
	Dec. 31, 2014
Transition to Self-Management [Abstract]
Transition Expenses	Transition Expenses
	On July 31, 2013 (the “Initial Closing”), we entered into a series of agreements and amendments to our existing agreements and arrangements with Behringer, 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, the Company expects to incur higher direct costs related to compensation and other administration and less reliance on and cost related to Behringer management agreements.
	In connection with the Self-Management Transition Agreements, on August 1, 2013, we hired five executives who were previously employees of Behringer and subsequently began hiring other employees.
	At the Initial Closing, we issued 10,000 shares of Series A Preferred Stock to Behringer. 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.
	At the Initial Closing, we acquired from Behringer the GP Master Interest in the PGGM Co-Investment Partner for a purchase price of $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 are described below.
	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 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. For the year ended December 31, 2014, $2.5 million of acquisition fees were trued up to us. No amounts were credited for the year ended December 31, 2013.
	During the period from the Initial Closing through September 30, 2014, Behringer provided general transition services in support of our transition to self-management for a total cost of $7.2 million; $0.4 million was expensed for the year ended December 31, 2014 and $6.8 million was expensed for the year ended December 31, 2013.
	For the period from August 1, 2013 through June 30, 2014, Behringer was paid fees and reimbursements under the terms of amended advisory and property management agreements that included a reduction of certain fees and expenses paid to Behringer under the prior agreements, which are described in Note 16, “Related Party Arrangements.”
	We consummated the second and final closing of the Self-Management Transition Agreements on June 30, 2014 (the “Self-Management Closing”), terminating the advisory and property management services with Behringer and paying Behringer $3.5 million for certain intangible assets, rights and contracts, $1.25 million as part of the general transition services described above and a monthly installment of $0.4 million for general transition services. Effective July 1, 2014, we hired corporate and property management employees who were previously employees of Behringer. We also reconciled certain miscellaneous closing matters related to employee benefits of former Behringer employees hired by us, transfers of office equipment and similar items.
	Behringer provided shareholder services from June 30, 2014 through November 30, 2014 at a cost of $2.9 million, including an early termination payment related to our listing on the NYSE.
	In addition to the above transactions, the Company incurred other expenses related to our transition to self-management and listing on the NYSE, primarily related to Special Committee and Company legal and financial advisors and general transition services (primarily related to staffing, name change, notices, transition-related insurance, information technology and facilities).
	The components of our transition expenses are as follows (in millions):
		For the Year Ended
		December 31,
		2014		2013
	Special Committee and Company legal and financial advisors	$	0.9	$	0.7
	General transition services:
	Behringer	2.9		7.9
	Other service providers	2.5		0.4
	Expenses related to listing on the NYSE	6.4		—
	Total transition expenses	$	12.7	$	9

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
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 the other partner would have the option to accept the offer or purchase the offering partner’s interest at that price.  As of December 31, 2014, 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 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, 2014 and December 31, 2013, we have approximately $18.3 million and $17.6 million, respectively, of carrying value for deferred lease revenues related to The Gallery at NoHo Commons.
	As of December 31, 2014, we have entered into construction and development contracts with $396.6 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.
	Future minimum lease payments due on our lease commitment payables, primarily related to our corporate office lease which expires in 2024, are as follows (in millions):
		Future Minimum Lease Payments
	2015	$	0.6
	2016	0.6
	2017	0.8
	2018	0.8
	2019	0.8
	Thereafter	4
	Total	$	7.6
	We are also subject to various legal proceedings and claims which arise in the ordinary course of business. Matters which relate to property damage or general liability claims are generally covered by insurance. While the resolution of these legal proceedings and claims cannot be predicted with certainty, management believes the final outcome of such matters will not have a material adverse effect on our consolidated financial statements.

Fair_Value_of_Derivatives_and_

Fair Value of Derivatives and Financial Instruments	12 Months Ended
	Dec. 31, 2014
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
	For the years ended December 31, 2014 and 2013, we had no fair value adjustments on a recurring basis.
	Nonrecurring Basis — Fair Value Adjustments
	For the years ended December 31, 2014 and 2013, we had no fair value adjustments on a nonrecurring basis.
	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
	Financial Instruments Not Carried at Fair Value
	Financial instruments held as of December 31, 2014 and December 31, 2013 and not measured at fair value on a recurring basis include cash and cash equivalents, 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, 2014 and December 31, 2013 are as follows (in millions):
		December 31, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		Amount		Value		Amount		Value
	Mortgages and notes payable	$	1,186.50	$	1,199.60	$	1,029.10	$	1,015.40

Related_Party_Arrangements

Related Party Arrangements	12 Months Ended
	Dec. 31, 2014
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 Behringer and were supported by related party service agreements, as further described below.  Through July 31, 2013, we exclusively relied on Behringer to provide certain services and personnel for management and day-to-day operations, including advisory services and property management services provided or performed by Behringer.
	Effective July 31, 2013, we entered into a series of agreements with Behringer in order to begin our transition to self-management. On August 1, 2013, we hired five executives who were previously employees of Behringer. Effective July 1, 2014, we hired the remaining professionals and staff providing advisory and property management services that were previously employees of Behringer and began operating as a self-managed independent company with limited services from Behringer. Behringer provides capital market services to the Company for a fee ranging from 0.9% to 1.0%. Such capital market services will expire on June 30, 2015. See further discussion of the transaction and amounts paid to Behringer in relation to the transition at Note 13, “Transition Expenses.”
	The services provided by Behringer included acquisition and advisory, property management, debt financing, and asset management services. The table below shows the fees and expense reimbursements paid to Behringer in exchange for such services for the years ended December 31, 2014, 2013 and 2012 (in millions):
		For the Year Ended
		December 31,
		2014		2013		2012
	Acquisition and advisory fees	$	4.3	$	15	$	7.3
	Property management fees	11.3		23.4		21.3
	Debt financing fees	2.4		1.5		1.3
	Asset management fees	3.8		7.7		6.6
	Administrative expense reimbursements	1		1.8		1.8
	Shareholder services (a)	2.9		—		—
	(a)    Includes an early termination payment of $2.3 million to Behringer related to our listing on the NYSE. See further discussion in Note 13, “Transition Expenses.”

Supplemental_Disclosures_of_Ca

Supplemental Disclosures of Cash Flow Information	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Supplemental Disclosures of Cash Flow Information	Supplemental Disclosures of Cash Flow Information
	Supplemental cash flow information is summarized below (in millions):
			For the Year Ended
			December 31,
			2014		2013		2012
	Supplemental disclosure of cash flow information:
	Interest paid, net of amounts capitalized of $17.8 million, $10.5 million and $2.5 million in 2014, 2013 and 2012, respectively		$	20.8	$	25.8	$	32.9
	Non-cash investing and financing activities:
	Acquisition of controlling interests in business combinations with no consideration paid:
		Assets acquired	—		—		38.1
		Liabilities assumed	—		—		37.3
		Noncontrolling interests	—		—		1
	Mortgage payable assumed by purchaser of asset held for sale		—		—		15.8
	Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration		—		—		2.6
	Acquisition of a noncontrolling interest		—		9		—
	Conversion of note receivable into an equity investment		—		4.9		5.9
	Funds deposited in escrow related to a development acquisition		1.5		1.1		—
	Transfer of real estate from construction in progress to operating real estate		286.6		48.9		—
	Conversion of investment in unconsolidated real estate joint venture into notes receivable		0.8		9.5		—
	Stock issued pursuant to our DRIP		20.5		31		39.7
	Distributions payable - regular		12.5		5		4.8
	Construction costs and other related payables		92.2		43.7		12

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.
	Financings
	On January 14, 2015, the Company entered into the $200 Million Facility. The $200 Million Facility has an annual interest rate and annual facility fee that depend on certain company elections, whether the Company has an investment grade rating and its leverage ratio. Based on these factors, the current annual interest rate would be LIBOR plus 2.50%. The credit facility matures in January 2019, but may be extended for 12 additional months at the Company’s option. In addition, the terms of the facility allow the Company to increase the amount available under the facility by an additional $200 million to $400 million after satisfying certain conditions. The $200 Million Facility is primarily supported by equity pledges of wholly-owned multifamily communities and is secured by a first mortgage lien and an assignment of leases and rents against two of our wholly owned multifamily communities and a first priority perfected assignment of a portion of certain of our notes receivables.
	Distributions for the First Quarter of 2015
	Our board of directors has authorized a distribution in the amount of $0.075 per share on all outstanding shares of common stock of the Company for the first quarter of 2015. The distribution is payable April 8, 2015 to stockholders of record at the close of business on March 31, 2015.
	Potential Sale of Multifamily Community
	We are under contract to sell a multifamily community in Chicago, Illinois for $126.0 million to an unaffiliated third-party. The total carrying value of this multifamily community as of December 31, 2014 was $76.7 million, representing 2.7% of our total real estate, net as of December 31, 2014. The potential sale was not contemplated as of December 31, 2014, and accordingly, was classified as real estate held for investment as of December 31, 2014.

Quarterly_Results_unaudited

Quarterly Results (unaudited)	12 Months Ended
	Dec. 31, 2014
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, 2014 and 2013 (amounts in thousands, except per share data):
		2014 Quarters Ended
		March 31			June 30			September 30			December 31
	Rental revenues	$	50,182		$	51,047		$	53,091		$	54,705
	Income (loss) from continuing operations	$	14,476		$	(6,870	)	$	(858	)	$	(6,477	)
	Net income (loss) attributable to common stockholders	$	7,423		$	(6,775	)	$	(619	)	$	(6,153	)
	Basic weighted average shares outstanding	168,714			168,857			168,780			168,818
	Diluted weighted average shares outstanding	168,919			169,096			169,028			169,066
	Basic and diluted earnings (loss) per share	$	0.04		$	(0.04	)	$	—		$	(0.04	)
		2013 Quarters Ended
		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	)
	*****

Valuation_and_Qualifying_Accou

Valuation and Qualifying Accounts Schedule II	12 Months Ended
	Dec. 31, 2014
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts Schedule II	Monogram Residential Trust, Inc.
	Valuation and Qualifying Accounts
	Schedule II
	December 31, 2014
	(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, 2014	$	102	$	550	$	—	$	508	$	144
	For the year ended December 31, 2013	193		492		—		583		102
	For the year ended December 31, 2012	184		691		—		682		193

Real_Estate_and_Accumulated_De

Real Estate and Accumulated Depreciation Schedule III	12 Months Ended
	Dec. 31, 2014
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
Real Estate and Accumulated Depreciation Schedule III	Monogram Residential Trust, Inc.
	Real Estate and Accumulated Depreciation
	Schedule III
	December 31, 2014
	(in thousands)
					Initial Cost								Costs			Gross
													Subsequent			Amount
													to Acquisition/			Carried at
	Property Name		Location		Land				Buildings and				Construction			December 31, 2014		Accumulated Depreciation (a)		Year of	Encumbrances(c)
									Improvements											Completion/
																				Acquisition(b)
	4110 Fairmount		Dallas, TX		$	7,244			$	36,150			$	—		$	43,394	$	961	2014/2012	$	24,063
	4550 Cherry Creek(d)		Denver, CO		7,910				70,184				841			78,935		10,606		2004/2011	28,600
	55 Hundred(d)		Arlington, VA		13,196				67,515				279			80,990		9,851		2010/2011	41,750
	7166 at Belmar(d)		Lakewood, CO		3,385				52,298				1,392			57,075		7,715		2008/2011	22,825
	Acacia on Santa Rosa Creek		Santa Rosa, CA		8,100				29,512				1,428			39,040		7,150		2003/2010	29,000
	Acappella		San Bruno, CA		8,000				46,973				352			55,325		8,994		2010/2010	30,250
	Allegro (e)		Addison, TX		3,900				55,355				1,580			60,835		8,618		2013/2010	—
	Allusion West University		Houston, TX		9,440				31,372				—			40,812		1,084		2014/2012	20,581
	Argenta		San Francisco, CA		11,100				81,624				1,229			93,953		12,814		2008/2011	51,000
	Arpeggio Victory Park		Dallas, TX		11,000				47,443				—			58,443		1,391		2014/2012	29,057
	Bailey's Crossing(d)		Alexandria, VA		22,214				108,145				662			131,021		15,813		2010/2011	76,000
	Blue Sol		Costa Mesa, CA		7,167				30,145				—			37,312		361		2014/2013	—
	Briar Forest Lofts(d)		Houston, TX		4,623				40,155				477			45,255		5,987		2008/2011	20,571
	Burnham Pointe		Chicago, IL		10,400				75,960				2,133			88,493		11,747		2008/2010	4,592
	Burrough's Mill(d)		Cherry Hill, NJ		10,075				51,869				582			62,526		8,785		2004/2011	24,848
	Calypso Apartments and Lofts(d)		Irvine, CA		13,902				42,730				246			56,878		6,314		2008/2011	24,000
	The Cameron(d)		Silver Spring, MD		25,191				77,737				367			103,295		11,001		2010/2011	64,914
	The District Universal Boulevard(d)		Orlando, FL		5,161				57,448				886			63,495		8,315		2009/2011	37,203
	Eclipse(d)		Houston, TX		6,927				44,078				357			51,362		7,016		2009/2011	20,419
	Everly		Wakefield, MA		6,101				39,503				—			45,604		284		2014/2012	19,552
	Fitzhugh Urban Flats(d)		Dallas, TX		9,394				48,884				489			58,767		7,618		2009/2011	27,377
	Forty55 Lofts(d)		Marina del Rey, CA		11,382				68,966				326			80,674		10,215		2010/2011	25,500
	The Franklin Delray		Delray Beach, FL		9,065				24,229				60			33,354		1,371		2013/2012	—
	The Gallery at NoHo Commons		Los Angeles, CA		28,700				78,309				1,855			108,864		19,190		2008/2009	51,300
	Grand Reserve(d)		Dallas, TX		2,980				29,231				(783		)	31,428		3,562		2009/2012	20,771
	The Lofts at Park Crest		McLean, VA		—				49,737				400			50,137		10,190		2008/2010	44,331
	Muse Museum District		Houston, TX		11,533				36,189				—			47,722		502		2014/2012	23,138
	Pembroke Woods		Pembroke, MA		11,520				29,807				999			42,326		3,721		2006/2012	—
	Point 21(f)		Denver, CO		6,453				6,897				—			13,350		21		2014/2012	20,736
	Renaissance - Phase I(d)		Concord, CA		5,786				33,660				807			40,253		4,654		2008/2011	—
	The Reserve at LaVista Walk		Atlanta, GA		4,530				34,159				889			39,578		6,724		2008/2010	2,054
	San Sebastian(d)		Laguna Woods, CA		7,841				29,037				154			37,032		5,092		2010/2011	21,000
					Initial Cost								Costs			Gross
													Subsequent			Amount
													to Acquisition/			Carried at
	Property Name		Location		Land				Buildings and				Construction			December 31, 2014		Accumulated Depreciation (a)		Year of	Encumbrances(c)
									Improvements											Completion/
																				Acquisition(b)
	Satori(d)		Fort Lauderdale, FL		8,223				75,126				542			83,891		11,276		2010/2011	51,000
	Skye 2905(d)		Denver, CO		13,831				87,491				(114		)	101,208		12,348		2010/2011	56,100
	Stone Gate		Marlborough, MA		8,300				54,634				1,615			64,549		8,934		2007/2011	34,751
	Uptown Post Oak		Houston, TX		23,340				40,010				1,280			64,630		8,735		2008/2010	3,354
	Vara		San Francisco, CA		20,200				88,500				429			109,129		5,440		2013/2013	57,000
	The Venue(d)		Clark County, NV		1,520				24,249				207			25,976		3,718		2009/2011	10,500
	Veritas(d)		Henderson, NV		4,950				55,607				316			60,873		7,138		2011/2012	35,618
	West Village		Mansfield, MA		5,301				30,068				551			35,920		5,144		2008/2011	20,251
					$	389,885			$	2,010,986			$	22,833		$	2,423,704	$	280,400		$	1,074,006
	____________________________________________________________________________
	(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)	For multifamily communities developed by the Company, year of acquisition represents the year of our initial investment in the development.
	(c)	Encumbrances include mortgages and notes payable and the $150 Million Facility which had an outstanding balance of $10.0 million as of December 31, 2014. The $150 Million Facility is collateralized by the following properties: Burnham Pointe, The Reserve at La Vista Walk and Uptown Post Oak. The $150 Million Facility balance was allocated to each property based upon its relative gross real estate amount carried at December 31, 2014. Encumbrances related to mortgage loans excludes the $4.3 million of unamortized adjustment from business combinations as of December 31, 2014.
	(d)	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.
	(e)	During 2013, we completed development of the second phase of Allegro which added an additional 121 units. Phase I of the property was initially completed in 2010.
(f)	For our developments, we transfer costs of a property to land, buildings and improvements as units are completed and capable of generating operating revenue. As of December 31, 2014, the property was 90% complete and is expected to be completed in 2015.
A summary of activity for real estate and accumulated depreciation for the years ended December 31, 2014, 2013, and 2012 is as follows (in thousands):
		For the Year Ended
		December 31,
		2014				2013				2012
Real Estate:
Balance at beginning of year		$	2,170,747			$	2,177,429			$	2,066,099
Additions:
Additions, acquisitions and/or consolidation of joint ventures		292,802				163,401				140,069
Deductions:
Sale of real estate property		(39,845		)		(170,083		)		(28,739		)
Balance at end of year		$	2,423,704			$	2,170,747			$	2,177,429
Accumulated Depreciation:
Balance at beginning of year		$	195,048			$	123,360			$	42,123
Depreciation expense		88,806				85,054				83,909
Deductions		(3,454		)		(13,366		)		(2,672		)
Balance at end of year		$	280,400			$	195,048			$	123,360

Mortgage_Loans_on_Real_Estate_

Mortgage Loans on Real Estate Schedule IV	12 Months Ended
	Dec. 31, 2014
Mortgage Loans on Real Estate [Abstract]
Mortgage Loans on Real Estate Schedule IV	Monogram Residential Trust, Inc.
	Mortgage Loans on Real Estate
	Schedule IV
	December 31, 2014
	(in thousands)
	Description	Interest			Maturity	Periodic Payment Terms	Prior	Face Amount		Carrying		Principal Amount of Loans Subject to Delinquent Principal or Interest
		Rate			Date		Liens	of Note		Amount of Note
	Mezzanine note	14.5	%		Dec-15	Principal and interest at maturity	N/A	$	22,712	$	22,653	$	—
	Mezzanine note	15	%		Jan-16	Principal and interest at maturity	N/A	12,300		12,301		—
	Mezzanine note	14.5	%		Aug-15	Principal and interest at maturity	N/A	9,750		9,750		—
	Mezzanine note	15	%		Sep-16	Principal and interest at maturity	N/A	14,989		15,046		—
								$	59,751	$	59,750	$	—
	Reconciliation of the Carrying Amount of Mortgage Loans (in thousands):
	Balance at January 1, 2012	$	24,351
	Additions during 2012:
	New notes receivable, including advances under mezzanine loans	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
	Additions during 2013:
	New notes receivable, including advances under mezzanine loans	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
	Balance at December 31, 2013	52,811
	Additions during 2014:
	New notes receivable, including advances under mezzanine loans	6,762
	Capitalized acquisition costs, net of unearned fee income	133
	Deductions during 2014:
	Amortization of acquisition costs and fee income	44
	Balance at December 31, 2014	$	59,750

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
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, as defined by U.S. generally accepted accounting principles (“GAAP”), 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.
Consolidation	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, as defined by U.S. generally accepted accounting principles (“GAAP”), 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 net operating income capitalization rates, 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, 2014.
	Developments
	We capitalize project costs related to the development and construction of real estate (including interest, real estate 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.
	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 did not capitalize any interest expense related to investments in unconsolidated real estate joint ventures for the years ended December 31, 2014, 2013 or 2012.
	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
	Prior to January 1, 2014, when we had no involvement after the sale of a multifamily community, the multifamily community sold was reported as a discontinued operation.  Effective as of January 1, 2014, we adopted the revised guidance regarding discontinued operations as further discussed in Note 3, “New Accounting Pronouncements.” For sales of real estate or assets classified as held for sale after January 1, 2014, we evaluate whether the disposition will have a major effect on our operations and financial results and will therefore qualify as a strategic shift. If the disposition represents a strategic shift, it will be classified as discontinued operations in our consolidated statements of operations for all periods presented. If the disposition does not represent a strategic shift, it will be presented in continuing operations in our consolidated statements of operations.
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, 2014 and December 31, 2013, cash and cash equivalents include $42.0 million and $25.6 million, respectively, held by the Master Partnership and individual Co-Investment Ventures that are available only for use in the business of the Master Partnership and 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 or (b) the redemption value with subsequent adjustments.  The redeemable noncontrolling interests are temporary equity not within our control and are 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 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 direct 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 notes receivable, deferred financing costs, equity method investments, accounts receivable, restricted cash, interest rate caps, prepaid assets and deposits.  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. 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.    As of and for the years ended December 31, 2014 and 2013, 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.  Through June 30, 2014, pursuant to our advisory management agreement, Behringer was obligated to reimburse us for all investment-related expenses that the Company pursued but ultimately did not consummate.  Prior to the determination of its status, amounts incurred were recorded in other assets.
Transition Expenses	Transition Expenses
	Transition expenses include expenses directly and specifically 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, name change, notices, transition-related insurance, information technology and facilities), expenses related to our listing on the NYSE and payments to Behringer in connection with the transition to self-management discussed further in Note 13, “Transition Expenses.”
Income Taxes	Income Taxes
	We have elected to be taxed as a REIT under 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 intend to operate in such a manner as to continue to qualify for taxation as a REIT, 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 taxes associated with our TRS for the years ended December 31, 2014, 2013 or 2012.
	We have evaluated the current and deferred income tax related to state taxes with respect to which we do not have a REIT exemption, and we have no significant tax liability or benefit as of December 31, 2014 or December 31, 2013.
	The carrying amounts of our assets and liabilities for financial statement purposes differ from our basis for federal income taxes due to tax accounting in 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, intangibles, other assets, mortgages and notes payable and deferred revenues, primarily lease revenues, net. As a result of these differences, the carrying value for financial statement purposes exceeds our net federal income tax basis as of December 31, 2014 by approximately $6.1 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, 2014 and December 31, 2013, we had cash and cash equivalents deposited in certain financial institutions in excess of federally-insured levels.  We regularly monitor the financial condition of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents.
Share-based Compensation	Share-based Compensation
	We have a stock-based incentive award plan for our employees and directors. Compensation expense associated with restricted stock units is recognized in general and administrative expenses in our consolidated statements of operations. We measure stock-based compensation at the estimated fair value on the grant date, net of estimated forfeitures, and recognize the amortization of compensation expense over the requisite service period.
Earnings per Share	Earnings per Share
	Basic earnings per share is calculated by dividing net income attributable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is calculated by adjusting basic earnings per share for the dilutive effect of the assumed exercise of securities, including the effect of shares issuable under our preferred stock and our stock-based incentive plans.  Our unvested share-based awards are considered participating securities and are reflected in the calculation of diluted earnings per share. During periods of net loss, the assumed exercise of securities is anti-dilutive and is not included in the calculation of earnings per share. For all periods presented, any common stock equivalents were anti-dilutive.
	For all periods 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.
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.
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 noncontrolling interests and equity in earnings of investments in unconsolidated real estate joint ventures; depreciation and amortization; share-based compensation measurements; and recognition and timing of transition expenses.  Actual results could differ from those estimates.

Organization_and_Business_Tabl

Organization and Business (Tables)	12 Months Ended
	Dec. 31, 2014
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	The table below presents a summary of our Co-Investment Ventures. The effective ownership ranges are based on our participation in the distributable cash from 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.
			31-Dec-14		December 31, 2013
	Co-Investment Structure		Number of Multifamily Communities	Our Effective	Number of Multifamily Communities	Our Effective
				Ownership		Ownership
	PGGM CO-JVs (a)		30	50% to 74%	27	44% to 74%
	MW CO-JVs		14	55%	14	55%
	Developer CO-JVs		2	100%	4	90% to 100%
	Total		46		45
	(a)	Includes one unconsolidated investment as of December 31, 2014 and December 31, 2013. Also, as of December 31, 2014 and December 31, 2013, includes Developer Partners in 19 and 16 multifamily communities, respectively.

Business_Combinations_Tables

Business Combinations (Tables)	12 Months Ended
	Dec. 31, 2014
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
	Land		$	20.2
	Building and improvements		88.5
	Cash acquired		0.6
	Intangibles (a)		9.2
	Investment in unconsolidated real estate joint venture		6.4
	Other assets		0.1
	Accrued liabilities		(0.9		)
	Noncontrolling interest		(6.8		)
	Cash consideration		$	117.3
	(a)	The intangibles are $9.2 million of other contractual intangibles, primarily asset management and related fee revenue services and contracts.
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 is as follows (in millions):
			For the Periods to December 31, 2013
	Rental revenues		$	2.2
	Acquisition expenses		3.3
	Depreciation and amortization		3.2
	Net loss attributable to common stockholders		(3.1		)
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, 2013, nor does it purport to represent our future operations (in millions, except per share):
			Pro Forma (unaudited)
			For the Year Ended December 31, 2013
	Revenues		$	190.6
	Depreciation and amortization		88.4
	Loss from continuing operations		(6.8		)
	Loss from continuing operations per share		(0.04		)

Real_Estate_Investments_Tables

Real Estate Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Schedule of major components of real estate investments and intangibles and related accumulated depreciation and amortization	As of December 31, 2014 and December 31, 2013, major components of our real estate investments and intangibles and related accumulated depreciation and amortization were as follows (in millions):
		December 31, 2014												December 31, 2013
		Buildings				Intangibles								Buildings			Intangibles
		and				In-Place				Other				and			In-Place			Other
		Improvements				Leases				Contractual				Improvements			Leases			Contractual
	Cost	$	2,033.80			$	40.7			$	25.6			$	1,833.40		$	41.9		$	25.6
	Less: accumulated depreciation and amortization	(280.4		)		(38.3		)		(6.5		)		(195.0		)	(39.1		)	(2.6		)
	Net	$	1,753.40			$	2.4			$	19.1			$	1,638.40		$	2.8		$	23
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
	2015	$	2.8
	2016	1.4
	2017	1.4
	2018	0.5
	2019	0.5
Schedule of real estate developments	For the years ended December 31, 2014, 2013, and 2012, we capitalized the following amounts of interest, real estate taxes and direct overhead related to our developments (in millions):
		For the Year Ended
		December 31,
		2014				2013				2012
	Interest	$	17.8			$	10.5			$	2.5
	Real estate taxes	4.2				2.4				0.8
	Direct overhead	0.8				0.5				—
Schedule of real estate dispositions	The following table presents our sale of real estate for the year ended December 31, 2014 (in millions); there were no sales of real estate reported in continuing operations for the years ended December 31, 2013 and 2012:
	Date of Sale	Multifamily Community		Sales Contract Price				Net Cash Proceeds				Gain on Sale of Real Estate
	Feb-14	Tupelo Alley		$	52.9			$	33.4			$	16.4
Net income related to sale of multifamily community	The following table presents net income related to the Tupelo Alley multifamily community, sold in the first quarter of 2014, for the years ended December 31, 2014, 2013 and 2012. Net income for the year ended December 31, 2014 includes the gain on sale of real estate (in millions):
		For the Year Ended
		December 31,
		2014				2013				2012
	Net income (loss) from multifamily community sold in 2014	$	16.1			$	(0.1	)		$	(0.9	)
	Less: net income attributable to noncontrolling interest	(7.2		)		—				(0.4		)
	Net income (loss) attributable to common stockholders	$	8.9			$	(0.1	)		$	(1.3	)
Schedule of real estate dispositions, discontinued operations
	. The following table presents our sales of real estate for the years ended December 31, 2013 and 2012 (in millions), all of which are reported as discontinued operations:
	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
	Jun-13	Halstead		43.5				42.2				11.9
	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
		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
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 major classes of line items constituting net loss from discontinued operations, gains on sale of real estate, and depreciation and amortization and capital expenditures for the years ended December 31, 2013 and 2012 for the multifamily communities that have been classified as discontinued operations in the accompanying consolidated statement of operations (in millions):
		For the Year Ended
		December 31,
		2013				2012
	Rental revenue	$	8			$	17.8
	Expenses
	Property operating expenses	2.5				5.4
	Real estate taxes	1.1				2.2
	Interest expense	1				3.1
	Depreciation and amortization	3.3				9.7
	Total expenses	7.9				20.4
	Loss on early extinguishment of debt	(0.8		)		—
	Loss from discontinued operations	(0.7		)		(2.6		)
	Income attributable to noncontrolling interests	(6.9		)		1.7
	Loss from discontinued operations attributable to common stockholders	$	(7.6	)		$	(0.9	)
	Gain on sale of real estate	$	50.8			$	13.3
	Capital expenditures	$	0.2			$	0.9

Other_Assets_Tables

Other Assets (Tables)	12 Months Ended
	Dec. 31, 2014
Other Assets [Abstract]
Schedule of components of other assets	The components of other assets are as follows (in millions):
			December 31, 2014		31-Dec-13
	Notes receivable, net (a)		$	59.8	$	52.8
	Deferred financing costs, net		17.4		12.1
	Resident, tenant and other receivables (b)		14		8.3
	Escrows and restricted cash		8		12.4
	Prepaid assets, deposits and other assets		6.1		7.5
	Investment in unconsolidated real estate joint venture		5		5.5
	Total other assets		$	110.3	$	98.6
	(a)	Notes receivable include mezzanine loans, primarily related to multifamily development projects.  As of December 31, 2014, the weighted average interest rate is 14.7% and the remaining years to scheduled maturity is 1.1 years.
	(b)	Includes a receivable from Behringer of $1.8 million as of December 31, 2013. The balance was repaid in February 2014.

Leasing_Activity_Tables

Leasing Activity (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Schedule of future minimum base rental payments due to the entity under non-cancelable retail leases	Future minimum base rental receipts due to us under these non-cancelable retail leases in effect as of December 31, 2014 are as follows (in millions):
		Future Minimum
	Year	Lease Receipts
	2015	$	3.7
	2016	3.8
	2017	3.7
	2018	3.6
	2019	3.5
	Thereafter	26.4
	Total	$	44.7

Mortgages_and_Notes_Payable_Ta

Mortgages and Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2014
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, 2014 and December 31, 2013 (dollar amounts in millions and monthly LIBOR at December 31, 2014 is 0.17%):
							As of December 31, 2014
			December 31,		December 31,		Wtd. Average
			2014		2013		Interest Rates		Maturity Dates
	Company level (a)
	Fixed rate mortgage payable		$	87.2	$	87.3	3.95%		2018 to 2020
	Variable rate mortgage payable		—		24		—		—
	Variable rate construction loans payable (b)		33		3.1		Monthly LIBOR + 2.15%		2017 to 2018
	Total Company level		120.2		114.4
	Co-Investment Venture level - consolidated (c)
	Fixed rate mortgages payable		827.7		852.3		3.73%		2015 to 2020
	Variable rate mortgage payable		12		12.2		Monthly LIBOR + 2.35%		2017
	Fixed rate construction loans payable (d)		57		24.6		4.16%		2016 to 2018
	Variable rate construction loan payable (e)		165.3		18.9		Monthly LIBOR + 2.15%		2016 to 2018
			1,062.00		908
	Plus: unamortized adjustments from business combinations		4.3		6.7
	Total Co-Investment Venture level - consolidated		1,066.30		914.7
	Total consolidated mortgages and notes payable		$	1,186.50	$	1,029.10
	(a)	Company level debt is defined as debt that is a direct obligation of the Company or its wholly owned subsidiaries. Company level debt includes the applicable portion of Co-Investment debt where the Company has provided full or partial guarantees for the repayment of the debt.
	(b)	Includes the amount of the Co-Investment Venture level construction loans payable that is guaranteed by the Company or its wholly owned subsidiaries. As of December 31, 2014, the Company has partially guaranteed nine loans with total commitments of $494.1 million. These loans include one to two year extension options. Our percentage guarantee on each of these loans ranges from 10% to 25%. The non-recourse portion of these loans outstanding as of December 31, 2014, is reported in the Co-Investment Venture level construction loans payable.
	(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 into a permanent loan with a maturity of 2023.
	(e)	Includes ten loans with total commitments of $516.0 million. These loans include one to two year extension options. The amount guaranteed by the Company is reported as Company level debt as discussed in footnote (b) above.
Schedule of contractual principal payments for the entity's mortgages and notes payable for the five subsequent years and thereafter	As of December 31, 2014, 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
	2015		$	0.2	$	83.6	$	83.8
	2016		0.6		185.3		185.9
	2017		12.5		253.8		266.3
	2018		51.9		245.9		297.8
	2019		1.1		219.4		220.5
	Thereafter		53.9		74		127.9
	Total		$	120.2	$	1,062.00	1,182.20
	Add: unamortized adjustments from business combinations						4.3
	Total mortgages and notes payable						$	1,186.50

Noncontrolling_Interests_Table

Noncontrolling Interests (Tables)	12 Months Ended
	Dec. 31, 2014
Noncontrolling Interest [Abstract]
Schedule of non-redeemable, noncontrolling interests	As of December 31, 2014 and December 31, 2013, non-redeemable noncontrolling interests (“NCI”) consisted of the following, including the direct and non-direct noncontrolling interests ownership ranges where applicable (dollar amounts in millions):
			December 31, 2014				December 31, 2013
					Effective						Effective
			Amount		NCI % (a)		Amount				NCI % (a)
	PGGM Co-Investment Partner		$	390.5	26% to 45%		$	293.5			26% to 45%
	MW Co-Investment Partner		144.9		45%		157.8				45%
	Developer Partners		3.4		0%		3.5				0% to 10%
	Subsidiary preferred units		1.9		(b)		1.4				(b)
	Total non-redeemable NCI		$	540.7			$	456.2
	(a)        Effective noncontrolling interest percentage is based upon the noncontrolling interest’s participation in distributable operating cash. This effective ownership is indicative of, but may differ from, percentages for distributions, contributions or financing requirements.
	(b)        The preferred units have no voting rights.
Schedule of distributions to noncontrolling interests	For the years ended December 31, 2014, 2013 and 2012, we paid the following distributions to noncontrolling interests:
			For the Year Ended December 31,
			2014		2013				2012
	Distributions paid to noncontrolling interests:
		Operating activities	$	22.5	$	25			$	20.4
		Investing and financing activities	25.5		26.3				9.3
		Total	$	48	$	51.3			$	29.7
Schedule of redeemable, noncontrolling interests (NCI)	As of December 31, 2014 and December 31, 2013, redeemable noncontrolling interests (“NCI”) consisted of the following (dollar amounts in millions):
			December 31, 2014				December 31, 2013
					Effective						Effective
			Amount		NCI % (a)		Amount				NCI % (a)
	Developer Partners		$	32	0% to 10%		$	22			0% to 20%
	(a)        Effective noncontrolling interest percentage is based upon the noncontrolling interest’s participation in distributable operating cash.  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.

Transition_Expenses_Tables

Transition Expenses (Tables)	12 Months Ended
	Dec. 31, 2014
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,
		2014		2013
	Special Committee and Company legal and financial advisors	$	0.9	$	0.7
	General transition services:
	Behringer	2.9		7.9
	Other service providers	2.5		0.4
	Expenses related to listing on the NYSE	6.4		—
	Total transition expenses	$	12.7	$	9

Commitments_and_Contingencies_

Commitments and Contingencies (Tables)	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Future minimum lease payments	Future minimum lease payments due on our lease commitment payables, primarily related to our corporate office lease which expires in 2024, are as follows (in millions):
		Future Minimum Lease Payments
	2015	$	0.6
	2016	0.6
	2017	0.8
	2018	0.8
	2019	0.8
	Thereafter	4
	Total	$	7.6

Fair_Value_of_Derivatives_and_1

Fair Value of Derivatives and Financial Instruments (Tables)	12 Months Ended
	Dec. 31, 2014
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 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
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, 2014 and December 31, 2013 are as follows (in millions):
		December 31, 2014				December 31, 2013
		Carrying		Fair		Carrying		Fair
		Amount		Value		Amount		Value
	Mortgages and notes payable	$	1,186.50	$	1,199.60	$	1,029.10	$	1,015.40

Related_Party_Arrangements_Tab

Related Party Arrangements (Tables)	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Schedule of Related Party Transactions	The table below shows the fees and expense reimbursements paid to Behringer in exchange for such services for the years ended December 31, 2014, 2013 and 2012 (in millions):
		For the Year Ended
		December 31,
		2014		2013		2012
	Acquisition and advisory fees	$	4.3	$	15	$	7.3
	Property management fees	11.3		23.4		21.3
	Debt financing fees	2.4		1.5		1.3
	Asset management fees	3.8		7.7		6.6
	Administrative expense reimbursements	1		1.8		1.8
	Shareholder services (a)	2.9		—		—
	(a)    Includes an early termination payment of $2.3 million to Behringer related to our listing on the NYSE. See further discussion in Note 13, “Transition Expenses.”

Supplemental_Disclosures_of_Ca1

Supplemental Disclosures of Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Summary of supplemental cash flow information	Supplemental cash flow information is summarized below (in millions):
			For the Year Ended
			December 31,
			2014		2013		2012
	Supplemental disclosure of cash flow information:
	Interest paid, net of amounts capitalized of $17.8 million, $10.5 million and $2.5 million in 2014, 2013 and 2012, respectively		$	20.8	$	25.8	$	32.9
	Non-cash investing and financing activities:
	Acquisition of controlling interests in business combinations with no consideration paid:
		Assets acquired	—		—		38.1
		Liabilities assumed	—		—		37.3
		Noncontrolling interests	—		—		1
	Mortgage payable assumed by purchaser of asset held for sale		—		—		15.8
	Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration		—		—		2.6
	Acquisition of a noncontrolling interest		—		9		—
	Conversion of note receivable into an equity investment		—		4.9		5.9
	Funds deposited in escrow related to a development acquisition		1.5		1.1		—
	Transfer of real estate from construction in progress to operating real estate		286.6		48.9		—
	Conversion of investment in unconsolidated real estate joint venture into notes receivable		0.8		9.5		—
	Stock issued pursuant to our DRIP		20.5		31		39.7
	Distributions payable - regular		12.5		5		4.8
	Construction costs and other related payables		92.2		43.7		12

Quarterly_Results_unaudited_Ta

Quarterly Results (unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
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, 2014 and 2013 (amounts in thousands, except per share data):
		2014 Quarters Ended
		March 31			June 30			September 30			December 31
	Rental revenues	$	50,182		$	51,047		$	53,091		$	54,705
	Income (loss) from continuing operations	$	14,476		$	(6,870	)	$	(858	)	$	(6,477	)
	Net income (loss) attributable to common stockholders	$	7,423		$	(6,775	)	$	(619	)	$	(6,153	)
	Basic weighted average shares outstanding	168,714			168,857			168,780			168,818
	Diluted weighted average shares outstanding	168,919			169,096			169,028			169,066
	Basic and diluted earnings (loss) per share	$	0.04		$	(0.04	)	$	—		$	(0.04	)
		2013 Quarters Ended
		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	)

Organization_and_Business_Deta

Organization and Business (Details) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2014	Dec. 20, 2013	Jul. 31, 2013	Jun. 30, 2014	Jul. 30, 2013
	investment	investment		joint_venture	joint_venture
	community	joint_venture
	joint_venture
Organization and business
Number of executive officers transferred						5
Transition to Self-Management, Agreement Closing Costs							$5,200,000
Number of multifamily communities in which the entity has made wholly owned investments or joint venture equity	56
Number of stabilized operating properties	34
Number of multifamily communities in lease up and development	22
Number of wholly owned multifamily communities	7
Number of debt investments made by the entity	3
Number of wholly owned investments	10
Number of multifamily communities in which the entity is having ownership interest through Co-Investment Ventures	46
Number of consolidated investments	45
Number of unconsolidated joint venture equity investment in multifamily community	1	1
Proceeds from Divestiture of Businesses and Interests in Affiliates	0	7,272,000	0
Co-Investment Ventures
Number of Co-Investment Ventures	46	45
Minimum Percentage Of Ordinary Taxable Income Distribution Requirement	90.00%
Developer CO-JVs
Organization and business
Number of investments sold	2			2	13
Proceeds from sale of noncontrolling interest					146,400,000
Proceeds from Divestiture of Businesses and Interests in Affiliates	13,200,000			13,200,000
PGGM Co JVs
Co-Investment Ventures
Number of Co-Investment Ventures	30	27
Number of Multifamily Communities	19	16
PGGM Co JVs | Minimum
Co-Investment Ventures
Effective Ownership (as a percent)	50.00%	44.00%
PGGM Co JVs | Maximum
Co-Investment Ventures
Effective Ownership (as a percent)	74.00%	74.00%
MW CO-JVs
Co-Investment Ventures
Number of Co-Investment Ventures	14	14
Effective Ownership (as a percent)	55.00%	55.00%
Other Co-Investment Ventures
Co-Investment Ventures
Number of Co-Investment Ventures	2	4
Effective Ownership (as a percent)	100.00%
Other Co-Investment Ventures | Minimum
Co-Investment Ventures
Effective Ownership (as a percent)		90.00%
Other Co-Investment Ventures | Maximum
Co-Investment Ventures
Effective Ownership (as a percent)		100.00%
PGGM Co JVs
Organization and business
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners								45.00%
Noncontrolling Interest, Ownership Percentage by Parent								55.00%
PGGM Co JVs | Minimum
Organization and business
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	26.00%	26.00%
PGGM Co JVs | Maximum
Organization and business
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners	45.00%	45.00%
BHMP GP Interest
Organization and business
Percentage of equity interest acquired						1.00%		1.00%
Purchase price to acquire 1% GP Interest						23,100,000
PGGM
Organization and business
Noncontrolling Interest, Ownership Percentage by Noncontrolling Owners								99.00%
Equity Commitment, Maximum Potential Increase					$300,000,000
Advisor
Organization and business
Number of employees supported by related party service agreements						0

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	segment
Cash and Cash Equivalents
Cash and cash equivalents held by individual Co-Investment Ventures	$42,000,000	$25,600,000
Minimum lease term to recognize rental revenues	1 year
Income Taxes
Minimum Percentage Of Ordinary Taxable Income Distribution Requirement	90.00%
Tax liability or benefit	0	0
Difference in tax bases versus carrying values	6,100,000
Uncertain tax positions	$0	$0
Number of reportable segments	1
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

Business_Combinations_Narrativ

Business Combinations (Narrative) (Details) (USD $)	0 Months Ended	12 Months Ended
	Jul. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Business Acquisition [Line Items]
Remaining consideration after closing costs			$117,300,000
Acquisitions of noncontrolling interests	13,800,000	6,150,000	49,036,000	20,324,000
Payments to acquire real estate		0	108,014,000	67,583,000
Acquisition expenses		-17,000	3,677,000	2,508,000
Transition expenses		12,672,000	9,003,000	0
Mutlfamily Community, San Francisco, CA
Business Acquisition [Line Items]
Number of units in real estate property	202
Payments to acquire real estate	108,700,000
BHMP GP Interest
Business Acquisition [Line Items]
Purchase price to acquire 1% GP Interest	23,100,000
Remaining consideration after closing costs	$9,300,000

Business_Combinations_Assets_A

Business Combinations (Assets Acquired and Liabilities Assumed) (Details) (USD $)	3 Months Ended								12 Months Ended
	Dec. 31, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
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					$20,200,000
Building and improvements					88,500,000					88,500,000
Cash acquired					600,000					600,000
Intangibles					9,200,000					9,200,000
Investment in unconsolidated real estate joint venture					6,400,000					6,400,000
Other assets					100,000					100,000
Accrued liabilities					-900,000					-900,000
Noncontrolling interest					-6,800,000					-6,800,000
Cash consideration					117,300,000					117,300,000
Amounts recognized for revenues and net loss from the business combination
Acquisition expenses									-17,000	3,677,000	2,508,000
Depreciation and amortization									95,794,000	86,110,000	99,716,000
Net loss attributable to common stockholders	-6,153,000	-619,000	-6,775,000	7,423,000	-1,091,000	-460,000	26,799,000	4,444,000	-6,124,000	29,692,000	-12,514,000
Total Acquisitions
Amounts recognized for revenues and net loss from the business combination
Rental revenues										2,200,000
Acquisition expenses										3,300,000
Depreciation and amortization										3,200,000
Net loss attributable to common stockholders										($3,100,000)

Business_Combinations_Pro_Form

Business Combinations (Pro Forma) (Details) (USD $)	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 31, 2013
Business Combinations [Abstract]
Revenues	$190.60
Depreciation and amortization	88.4
Loss from continuing operations	($6.80)
Loss from continuing operations per share	($0.04)

Real_Estate_Investments_Detail

Real Estate Investments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate Investments
Buildings and improvements	$2,033,819,000	$1,833,452,000
Less accumulated depreciation	-280,400,000	-195,048,000
Depreciation expense	89,113,000	85,054,000	83,909,000
Intangibles
Net	21,485,000	25,753,000
Amortization expense associated with lease intangibles	4,185,000	2,394,000	23,606,000
In-Place Leases
Intangibles
Cost	40,700,000	41,900,000
Less: accumulated depreciation and amortization	-38,300,000	-39,100,000
Net	2,400,000	2,800,000
Amortization expense associated with lease intangibles	4,200,000	2,500,000	21,500,000
Other Contractual
Intangibles
Cost	25,600,000	25,600,000
Less: accumulated depreciation and amortization	-6,500,000	-2,600,000
Net	19,100,000	23,000,000
Asset management, fee revenue services, and contracts
Intangibles
Net	9,200,000	9,200,000
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
Buildings and improvements	2,033,800,000	1,833,400,000
Less accumulated depreciation	-280,400,000	-195,000,000
Net	1,753,400,000	1,638,400,000
Depreciation expense	$88,800,000	$81,800,000	$76,400,000

Real_Estate_Investments_Detail1

Real Estate Investments (Details 2) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Anticipated Amortization of Lease Intangibles
2015	$2.80
2016	1.4
2017	1.4
2018	0.5
2019	$0.50

Real_Estate_Investments_Detail2

Real Estate Investments (Details 3) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate [Abstract]
Interest	$17.80	$10.50	$2.50
Real estate taxes	4.2	2.4	0.8
Direct overhead	$0.80	$0.50	$0

Real_Estate_Investments_Detail3

Real Estate Investments (Details 4) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Sale of Real Estate [Line Items]
Sales contract price		$211,900,000
Net cash proceeds	33,379,000	205,336,000	23,902,000
Gain on sale of real estate	16,411,000	0	0
Tupelo Alley
Sale of Real Estate [Line Items]
Sales contract price	52,900,000
Net cash proceeds	33,400,000
Gain on sale of real estate	$16,400,000

Real_Estate_Investments_Detail4

Real Estate Investments (Details 5) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate [Abstract]
Net income (loss) from multifamily community sold in 2014	$16.10	($0.10)	($0.90)
Less: net income attributable to noncontrolling interest	-7.2	0	-0.4
Net income (loss) attributable to common stockholders	$8.90	($0.10)	($1.30)

Real_Estate_Investments_Detail5

Real Estate Investments (Details 6) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales contract price		$211,900,000
Net cash proceeds	33,379,000	205,336,000	23,902,000
Gain on sale of real estate	0	50,779,000	13,312,000
Grand Reserve Orange
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales contract price		35,300,000
Net cash proceeds		34,300,000
Gain on sale of real estate		12,800,000
Halstead
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales contract price		43,500,000
Net cash proceeds		42,200,000
Gain on sale of real estate		11,900,000
Cyan PDX
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
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
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales contract price		37,300,000
Net cash proceeds		33,300,000
Gain on sale of real estate		6,900,000
Mariposa Lofts Apartments
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Sales contract price			40,000,000
Net cash proceeds			23,900,000
Gain on sale of real estate			$13,300,000

Real_Estate_Investments_Detail6

Real Estate Investments (Details 7) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate [Abstract]
Rental revenue		$8,000,000	$17,800,000
Expenses
Property operating expenses		2,500,000	5,400,000
Real estate taxes		1,100,000	2,200,000
Interest expense		1,000,000	3,100,000
Depreciation and amortization		3,300,000	9,700,000
Total expenses		7,900,000	20,400,000
Loss on early extinguishment of debt		-800,000	0
Loss from discontinued operations		-700,000	-2,600,000
Income attributable to noncontrolling interests		-6,900,000	1,700,000
Loss from discontinued operations attributable to common stockholders		-7,600,000	-900,000
Gain on sale of real estate	0	50,779,000	13,312,000
Capital expenditures		$200,000	$900,000

Variable_Interest_Entities_Det

Variable Interest Entities (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	entity	entity
Variable Interest Entities
Number of variable interest entities	15	10
Assets of VIE	$906,900,000	$288,000,000
Construction in progress	582,300,000	279,600,000
Total operating real estate, net	2,860,234,000	2,454,913,000
Co-Investment ventures
Variable Interest Entities
Total operating real estate, net	282,100,000
Multifamily community
Variable Interest Entities
Number of VIEs having debt	11
Construction financing closed by VIEs	547,300,000
Amount drawn under construction loan	227,300,000
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
Variable Interest Entities
Guarantor Obligations, Number of Loans	9
Total commitments under guarantee	494,100,000
Amount outstanding	$177,700,000
Number of non-recourse loans	2
Construction loan | Minimum
Variable Interest Entities
Percentage guaranteed on loans	10.00%
Construction loan | Maximum
Variable Interest Entities
Percentage guaranteed on loans	25.00%

Other_Assets_Details

Other Assets (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Other Assets [Line Items]
Notes receivable, net	$59,800,000	$52,800,000
Deferred financing costs, net	17,400,000	12,100,000
Resident, tenant and other receivables	14,000,000	8,300,000
Escrows and restricted cash	8,000,000	12,400,000
Prepaid assets, deposits and other assets	6,100,000	7,500,000
Investment in unconsolidated real estate joint venture	5,000,000	5,500,000
Total other assets	110,282,000	98,567,000
Weighted average interest rate on notes receivables (as a percent)	14.70%
Remaining period to scheduled maturity on notes receivables	1 year 1 month 2 days
Total assets	3,108,408,000	2,898,601,000
Net income (loss)	271,000	32,589,000	-30,193,000
Advisor
Other Assets [Line Items]
Receivable from former advisor		1,800,000
Custer PGGM CO-JV
Other Assets [Line Items]
Investment in unconsolidated real estate joint venture	5,000,000	5,500,000
Effective Ownership (as a percent)	55.00%
Mezzanine loan
Other Assets [Line Items]
Interest rate on advances (as a percent)	14.50%
Mezzanine loan | Custer PGGM CO-JV
Other Assets [Line Items]
Number of units to be developed (in units)	444
Custer PGGM CO-JV
Other Assets [Line Items]
Total assets	5,100,000
Net income (loss)	$800,000

Leasing_Activity_Details

Leasing Activity (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014
Leases [Abstract]
Retail areas as a percentage of total rentable area of the entity's consolidated multifamily communities	1.00%
Future Minimum Lease Payments
2015	$3.70
2016	3.8
2017	3.7
2018	3.6
2019	3.5
Thereafter	26.4
Total	$44.70

Mortgages_and_Notes_Payable_De

Mortgages and Notes Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
	loan
Mortgage loans payable
Total consolidated mortgages and notes Payable	$1,186,481,000	$1,029,111,000
Mortgages and notes payable
Mortgage loans payable
Total	1,182,200,000
Plus: unamortized adjustments from business combinations	4,300,000
Total consolidated mortgages and notes Payable	1,186,500,000	1,029,100,000
Net consolidated carrying value of real estate that collateralized the mortgage loans payable	2,300,000,000
Mortgages and notes payable | Parent
Mortgage loans payable
Total	120,200,000
Total consolidated mortgages and notes Payable	120,200,000	114,400,000
Mortgages and notes payable | Consolidated co-investment venture
Mortgage loans payable
Total	1,062,000,000	908,000,000
Plus: unamortized adjustments from business combinations	4,300,000	6,700,000
Total consolidated mortgages and notes Payable	1,066,300,000	914,700,000
Construction loan | Minimum
Mortgage loans payable
Percentage guaranteed on loans	10.00%
Construction loan | Maximum
Mortgage loans payable
Percentage guaranteed on loans	25.00%
Parent company, fixed rate mortgage payable | Mortgages and notes payable | Parent
Mortgage loans payable
Fixed rate mortgages payable	87,200,000	87,300,000
Wtd. Average Interest Rates (as a percent)	3.95%
Parent company, variable rate mortgage payable | Mortgages and notes payable | Parent
Mortgage loans payable
Variable rate mortgages payable	0	24,000,000
Parent company, variable construction loan payable | Construction loan | Parent
Mortgage loans payable
Variable rate mortgages payable	33,000,000	3,100,000
Interest rate base	Monthly LIBOR
Interest rate margin (as a percent)	2.15%
Number of loans	9
Total loan commitment	494,100,000
Parent company, variable construction loan payable | Construction loan | Parent | Minimum
Mortgage loans payable
Extension option period	1 year
Percentage guaranteed on loans	10.00%
Parent company, variable construction loan payable | Construction loan | Parent | Maximum
Mortgage loans payable
Extension option period	2 years
Percentage guaranteed on loans	25.00%
Co-investment venture, fixed rate mortgages payable | Mortgages and notes payable | Consolidated co-investment venture
Mortgage loans payable
Fixed rate mortgages payable	827,700,000	852,300,000
Wtd. Average Interest Rates (as a percent)	3.73%
Co-investment venture, variable rate mortgage payable | Mortgages and notes payable | Consolidated co-investment venture
Mortgage loans payable
Variable rate mortgages payable	12,000,000	12,200,000
Interest rate base	Monthly LIBOR
Interest rate margin (as a percent)	2.35%
Co-investment venture, fixed rate construction loan payable | Construction loan | Consolidated co-investment venture
Mortgage loans payable
Fixed rate mortgages payable	57,000,000	24,600,000
Wtd. Average Interest Rates (as a percent)	4.16%
Number of loans	2
Total loan commitment	84,800,000
Co-investment venture, variable rate construction payable | Construction loan | Parent | Minimum
Mortgage loans payable
Extension option period	1 year
Co-investment venture, variable rate construction payable | Construction loan | Parent | Maximum
Mortgage loans payable
Extension option period	2 years
Co-investment venture, variable rate construction payable | Construction loan | Consolidated co-investment venture
Mortgage loans payable
Variable rate mortgages payable	165,300,000	18,900,000
Interest rate base	Monthly LIBOR
Interest rate margin (as a percent)	2.15%
Number of loans	10
Total loan commitment	$516,000,000
One-month LIBOR
Mortgage loans payable
Monthly LIBOR interest rate at period end	0.17%

Mortgages_and_Notes_Payable_De1

Mortgages and Notes Payable (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Contractual principal payments for the five subsequent years and thereafter
Total consolidated mortgages and notes Payable	$1,186,481,000	$1,029,111,000
Mortgages and notes payable
Contractual principal payments for the five subsequent years and thereafter
2015	83,800,000
2016	185,900,000
2017	266,300,000
2018	297,800,000
2019	220,500,000
Thereafter	127,900,000
Total	1,182,200,000
Plus: unamortized adjustments from business combinations	4,300,000
Total consolidated mortgages and notes Payable	1,186,500,000	1,029,100,000
Mortgages and notes payable | Parent
Contractual principal payments for the five subsequent years and thereafter
2015	200,000
2016	600,000
2017	12,500,000
2018	51,900,000
2019	1,100,000
Thereafter	53,900,000
Total	120,200,000
Total consolidated mortgages and notes Payable	120,200,000	114,400,000
Mortgages and notes payable | Consolidated co-investment venture
Contractual principal payments for the five subsequent years and thereafter
2015	83,600,000
2016	185,300,000
2017	253,800,000
2018	245,900,000
2019	219,400,000
Thereafter	74,000,000
Total	1,062,000,000	908,000,000
Plus: unamortized adjustments from business combinations	4,300,000	6,700,000
Total consolidated mortgages and notes Payable	$1,066,300,000	$914,700,000

Credit_Facility_Payable_Detail

Credit Facility Payable (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Jan. 14, 2015
Credit facility
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%
Percentage of the total credit facility used for computation of minimum usage fee	75.00%
Net carrying value of real estate that collateralized the credit facility	165,500,000
Percentage of the value of the collateral pool up to which borrowings can be made under the facility	70.00%
Total available amount under credit facility	150,000,000
Credit facility | Minimum
Credit facility payable
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%
Credit facility | Base rate
Credit facility payable
Variable rate basis	base rate
Credit facility | One-month or three-month LIBOR rate
Credit facility payable
Variable rate basis	one-month or three-month LIBOR rate
Credit facility | 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)	0.16%
Revolving Credit Facility | Subsequent Event
Credit facility payable
Maximum borrowing capacity		400,000,000
Revolving credit facility, current borrowing capacity		$200,000,000

Noncontrolling_Interests_Detai

Noncontrolling Interests (Details) (USD $)	0 Months Ended	12 Months Ended			0 Months Ended
	Jul. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Feb. 28, 2014	Dec. 20, 2013	Jul. 30, 2013
		community	joint_venture		joint_venture	joint_venture
		joint_venture
Non-redeemable, Noncontrolling Interests
Subsidiary preferred units		$1,900,000	$1,400,000
Non-redeemable noncontrolling interests		540,747,000	456,205,000
Sale of noncontrolling interest		0	7,272,000	0
Number of Co-Investment Ventures		46	45
Number of multifamily communities in which the entity is having ownership interest through Co-Investment Ventures		46
Acquisitions of noncontrolling interests	13,800,000	6,150,000	49,036,000	20,324,000
Remaining consideration after closing costs			117,300,000
CALIFORNIA
Non-redeemable, Noncontrolling Interests
Number of Co-Investment Ventures		2
Number of multifamily communities in which the entity is having ownership interest through Co-Investment Ventures		2
BHMP GP Interest
Non-redeemable, Noncontrolling Interests
Purchase price to acquire 1% GP Interest	23,100,000
Acquisitions of noncontrolling interests	13,800,000
Percentage of equity interest acquired	1.00%						1.00%
Remaining consideration after closing costs	9,300,000
Developer CO-JVs
Non-redeemable, Noncontrolling Interests
Percent of noncontrolling interest sold					37.00%	42.00%
Number of investments sold		2			2	13
Sale of noncontrolling interest		13,200,000			13,200,000
Proceeds from Divestiture of Interest in Joint Venture						146,400,000
Decrease in additional paid in capital					800,000
PGGM Co JVs
Non-redeemable, Noncontrolling Interests
Joint ventures		390,500,000	293,500,000
Effective NCI (as a percent)							45.00%
Annual distribution rate (as a percent)		12.50%
Redemption price of preferred units (in dollars per unit)		$500
Face value of preferred units (in dollars per unit)		$500
Redemption premium remaining of preferred units		0
PGGM Co JVs | Minimum
Non-redeemable, Noncontrolling Interests
Effective NCI (as a percent)		26.00%	26.00%
Number of preferred units issued by subsidiary of joint venture		121
Redemption premium of preferred units for first year (in dollars per unit)		$50
PGGM Co JVs | Maximum
Non-redeemable, Noncontrolling Interests
Effective NCI (as a percent)		45.00%	45.00%
Number of preferred units issued by subsidiary of joint venture		125
Redemption premium of preferred units for first year (in dollars per unit)		$100
Decline in redemption premium of preferred units (in dollars per unit)		$25
MW Co-Investment Partner
Non-redeemable, Noncontrolling Interests
Joint ventures		144,900,000	157,800,000
Effective NCI (as a percent)		45.00%	45.00%
Annual distribution rate (as a percent)		12.50%
Redemption price of preferred units (in dollars per unit)		$500
Redemption premium remaining of preferred units		0
MW Co-Investment Partner | Minimum
Non-redeemable, Noncontrolling Interests
Number of preferred units issued by subsidiary of joint venture		121
Redemption premium of preferred units for first year (in dollars per unit)		$50
MW Co-Investment Partner | Maximum
Non-redeemable, Noncontrolling Interests
Number of preferred units issued by subsidiary of joint venture		125
Redemption premium of preferred units for first year (in dollars per unit)		$100
Decline in redemption premium of preferred units (in dollars per unit)		$25
Developer CO-JVs
Non-redeemable, Noncontrolling Interests
Joint ventures		3,400,000	3,500,000
Effective NCI (as a percent)		0.00%
Decrease in additional paid in capital			23,100,000
Developer CO-JVs | Minimum
Non-redeemable, Noncontrolling Interests
Effective NCI (as a percent)			0.00%
Developer CO-JVs | Maximum
Non-redeemable, Noncontrolling Interests
Effective NCI (as a percent)			10.00%
Cyan MW CO JV
Non-redeemable, Noncontrolling Interests
Acquisitions of noncontrolling interests			27,900,000
Cameron PGGM CO-JV
Non-redeemable, Noncontrolling Interests
Sale of noncontrolling interest			$7,300,000

Noncontrolling_Interests_Detai1

Noncontrolling Interests (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Noncontrolling Interest [Abstract]
Operating activities	$22,500,000	$25,000,000	$20,400,000
Investing and financing activities	25,500,000	26,300,000	9,300,000
Total	$48,041,000	$51,303,000	$29,733,000

Noncontrolling_Interests_Detai2

Noncontrolling Interests (Details 2) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013
Redeemable, Noncontrolling Interest
Amount	32,012	21,984
Developer CO-JVs - Redeemable [Member]
Redeemable, Noncontrolling Interest
Amount	32,000	22,000
Developer CO-JVs - Redeemable [Member] | Minimum
Redeemable, Noncontrolling Interest
Effective NCI (as a percent)	0.00%	0.00%
Exercise Period of Put Options Requiring Entity to Acquire Partner Ownership Interest after Completion and Stabilization of Development	1 year
Developer CO-JVs - Redeemable [Member] | Maximum
Redeemable, Noncontrolling Interest
Effective NCI (as a percent)	10.00%	20.00%

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended	0 Months Ended
	Dec. 31, 2014	Jul. 31, 2013	Dec. 31, 2013
		vote
Capitalization
Preferred stock, shares issued	10,000		10,000
Preferred stock, dividend rate, percentage	7.00%
Preferred stock, par value (in dollars per share)	$0.00		$0.00
Preferred stock, liquidation preference per share	$10
Series A Preferred Stock | Advisor
Capitalization
Preferred stock, shares issued		10,000
Preferred stock, dividend rate, percentage		7.00%
Preferred stock, par value (in dollars per share)		$0.00
Number of voting rights per share		1
Preferred stock, liquidation preference per share		$10
Excess percentage, preferred stock conversion into common stock		17.25%
Cumulative required return on issue price of outstanding shares, percentage		7.00%

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares authorized for issuance	20,000,000
Share-based compensation expense	$800,000	$0	$0
Restricted Stock
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Awards granted	248,691	0	0
Vesting period	3 years

Stockholders_Equity_Details_3

Stockholders' Equity (Details 3) (USD $)	3 Months Ended	12 Months Ended			30 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Sep. 30, 2014
Equity [Abstract]
Daily distribution amount (in dollars per share)			$0.00		$0.00
Annual distribution amount (in dollars per share)		$0.34	$0.35	$0.41	$0.35
Common stock dividends authorized (in dollars per share)	$0.08
Distributions paid on common stock - special		$0	$0	$9,969

Stockholders_Equity_Details_4

Stockholders' Equity (Details 4) (USD $)	0 Months Ended	12 Months Ended
In Millions, except Per Share data, unless otherwise specified	Dec. 29, 2014	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Share Redemption Program
Per share redemption price expressed as percentage of the most recently disclosed estimated value per share		85.00%
Number of shares of common stock redeemed		1.6	2.5	1.7
Common stock average redemption share price (in dollars per share)		$8.80	$9.24	$9.50
Common stock, value of redemption properly submitted		$14.20	$22.90	$15.50
Number of shares acquired through tender offer	2.4
Price per share of shares acquired through tender offer	$9.25
Cost to acquire shares through tender offer	$22.10

Transition_Expenses_Details

Transition Expenses (Details) (USD $)	12 Months Ended			0 Months Ended	5 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jul. 31, 2013	Nov. 30, 2014	Sep. 30, 2014	Jun. 30, 2014	Jul. 30, 2013
Transition to Self-Management [Line Items]
Number of executive officers transferred				5
Issuance of Preferred Stock	10,000	10,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Shareholder services expense	$2,900,000	$0	$0
Behringer Harvard Multifamily Advisors I
Transition to Self-Management [Line Items]
Transaction to Self-Management, Payment for Service Reimbursement				2,500,000
Transaction to self-management, general transition services fee						7,200,000
General transition services expensed during the year	400,000	6,800,000
Certain intangible assets, rights and contracts transferred							3,500,000
Transaction to self-management, payment due at self-management closing							1,250,000
Transaction to self-management, monthly general transaction service fee							400,000
Shareholder services expense					2,900,000
Series A Preferred Stock | Behringer Harvard Multifamily Advisors I
Transition to Self-Management [Line Items]
Issuance of Preferred Stock				10,000
Convertible Stock | Behringer Harvard Multifamily Advisors I
Transition to Self-Management [Line Items]
Convertible shares surrendered during the period				1,000
Common stock, par value (in dollars per share)				$0.00
BHMP GP Interest
Transition to Self-Management [Line Items]
Purchase price to acquire 1% GP Interest				23,100,000
Percentage of equity interest acquired				1.00%				1.00%
Transition to Self-Management | Behringer Harvard Multifamily Advisors I
Transition to Self-Management [Line Items]
Proceeds from acquisition fees repaid	$2,500,000	$0

Transition_Expenses_Details_2

Transition Expenses (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Transition to Self-Management [Abstract]
Special Committee and Company legal and financial advisors	$900,000	$700,000
General transition expenses with Behringer	2,900,000	7,900,000
General transition expenses with other service providers	2,500,000	400,000
Expenses related to listing on the NYSE	6,400,000	0
Transition expenses	$12,672,000	$9,003,000	$0

Commitments_and_Contingencies_1

Commitments and Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013
Commitments
Deferred revenues, primarily lease revenues, net	$18,955,000	$18,382,000
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	18,300,000	17,600,000
Construction and development contracts
Commitments
Liability under contract	$396,600,000
Period in which construction costs are expected to be paid	24 months

Commitments_and_Contingencies_2

Commitments and Contingencies (Details 2) (USD $)	Dec. 31, 2014
In Millions, unless otherwise specified
Commitments and Contingencies Disclosure [Abstract]
2015	$0.60
2016	0.6
2017	0.8
2018	0.8
2019	0.8
Thereafter	4
Total	$7.60

Fair_Value_of_Derivatives_and_2

Fair Value of Derivatives and Financial Instruments (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Jul. 31, 2012
Recurring basis
Fair value of derivatives and financial instruments
Fair value adjustments	$0	$0
Nonrecurring basis
Fair value of derivatives and financial instruments
Fair value adjustments	0	0
Veritas Property Entity			24,800,000
Nonrecurring basis | Gain (Loss)
Fair value of derivatives and financial instruments
Veritas Property Entity			1,700,000	1,700,000
Nonrecurring basis | Level 3
Fair value of derivatives and financial instruments
Veritas Property Entity			$24,800,000

Fair_Value_of_Derivatives_and_3

Fair Value of Derivatives and Financial Instruments (Details 2) (Level 2, Mortgages and notes payable, USD $)	Dec. 31, 2014	Dec. 31, 2013
In Millions, unless otherwise specified
Carrying Amount
Fair Value
Mortgages and notes payable	$1,186.50	$1,029.10
Fair Value
Fair Value
Mortgages and notes payable	$1,199.60	$1,015.40

Related_Party_Arrangements_Det

Related Party Arrangements (Details) (USD $)	12 Months Ended			5 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Nov. 30, 2014	Jul. 31, 2013
					officer
Related Party Transactions [Abstract]
Number of executive officers transferred					5
Other disclosures
Acquisition and advisory fees	$4.30	$15	$7.30
Property management fees	11.3	23.4	21.3
Debt financing fees	2.4	1.5	1.3
Asset management fees	3.8	7.7	6.6
Administrative expense reimbursements	1	1.8	1.8
Shareholder services	2.9	0	0
Early termination payment	2.3
Minimum
Related Party Transaction [Line Items]
Capital Market Servicing Fee, Percent Fee	0.90%
Maximum
Related Party Transaction [Line Items]
Capital Market Servicing Fee, Percent Fee	1.00%
Behringer Harvard Multifamily Advisors I
Other disclosures
Shareholder services				$2.90
Related Party Transaction [Line Items]
Number of employees supported by related party service agreements					0

Supplemental_Disclosures_of_Ca2

Supplemental Disclosures of Cash Flow Information (Details) (USD $)	12 Months Ended
In Millions, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Cash Flow Information [Abstract]
Interest paid, net of amounts capitalized of $17.8 million, $10.5 million and $2.5 million in 2014, 2013 and 2012, respectively	$20.80	$25.80	$32.90
Interest capitalized	17.8	10.5	2.5
Non-cash investing and financing activities:
Assets acquired	0	0	38.1
Liabilities assumed	0	0	37.3
Noncontrolling interests	0	0	1
Mortgage payable assumed by purchaser of asset held for sale	0	0	15.8
Charge to additional paid-in capital in connection with an acquisition of a noncontrolling interest in excess of cash consideration	0	0	2.6
Acquisition of a noncontrolling interest	0	9	0
Conversion of note receivable into an equity investment	0	4.9	5.9
Funds deposited in escrow related to a development acquisition	1.5	1.1	0
Transfer of real estate from construction in progress to operating real estate	286.6	48.9	0
Conversion of investment in unconsolidated real estate joint venture into notes receivable	0.8	9.5	0
Stock issued pursuant to our DRIP	20.5	31	39.7
Distributions payable - regular	12.5	5	4.8
Construction costs and other related payables	$92.20	$43.70	$12

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended		0 Months Ended
	Dec. 31, 2014	Mar. 25, 2015	Jan. 14, 2015	Dec. 31, 2013
Subsequent Events
Common stock dividends authorized (in dollars per share)	$0.08
Real estate held for investment	$2,860,234,000			$2,454,913,000
Multifamily community | Chicago, IL
Subsequent Events
Real estate held for investment	76,700,000
Percent of total real estate, net	2.70%
Subsequent Event
Subsequent Events
Common stock dividends authorized (in dollars per share)		$0.08
Subsequent Event | Multifamily community | Chicago, IL
Subsequent Events
Disposal group, consideration		126,000,000
Subsequent Event | Revolving Credit Facility
Subsequent Events
Revolving credit facility, current borrowing capacity			200,000,000
Extension option period			12 months
Additional capacity available after certain conditions			200,000,000
Maximum borrowing capacity			$400,000,000
Subsequent Event | Revolving Credit Facility | London Interbank Offered Rate (LIBOR)
Subsequent Events
Interest rate margin (as a percent)			2.50%

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, 2014	Sep. 30, 2014	Jun. 30, 2014	Mar. 31, 2014	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Quarterly Financial Information Disclosure [Abstract]
Rental revenues	$54,705	$53,091	$51,047	$50,182	$49,746	$48,412	$46,722	$45,744	$209,025	$190,624	$171,762
Income (loss) from continuing operations	-6,477	-858	-6,870	14,476	-1,869	-14,114	-180	-1,241	271	-17,466	-40,845
Net income (loss) attributable to common stockholders	($6,153)	($619)	($6,775)	$7,423	($1,091)	($460)	$26,799	$4,444	($6,124)	$29,692	($12,514)
Basic weighted average shares outstanding	168,818	168,780	168,857	168,714					168,793	168,650	166,178
Diluted weighted average shares outstanding	169,066	169,028	169,096	168,919					169,029	168,650	166,178
Basic and diluted weighted average shares outstanding					168,741	168,881	168,886	168,084
Basic and diluted earnings (loss) per share (in dollars per share)	($0.04)	$0	($0.04)	$0.04	($0.01)	$0	$0.16	$0.03	($0.04)	$0.18	($0.08)

Valuation_and_Qualifying_Accou1

Valuation and Qualifying Accounts Schedule II (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Movement in valuation and qualifying accounts
Balance at Beginning of Year	$102	$193	$184
Charged to Costs and Expenses	550	492	691
Charged to Other Accounts	0	0	0
Deductions	508	583	682
Balance at End of Year	$144	$102	$193

Real_Estate_and_Accumulated_De1

Real Estate and Accumulated Depreciation Schedule III (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Initial Cost
Land	389,885,000
Buildings and Improvements	2,010,986,000
Costs Subsequent to Acquisition/Construction	22,833,000
Gross Amount carried at the end of the period	2,423,704,000	2,170,747,000	2,177,429,000	2,066,099,000
Accumulated Depreciation	280,400,000	195,048,000	123,360,000	42,123,000
Encumbrances	1,074,006,000
Outstanding balance of mortgage loans and credit facility	10,000,000
Credit facility
Initial Cost
Maximum borrowing capacity	150,000,000
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
4110 Fairmount
Initial Cost
Land	7,244,000
Buildings and Improvements	36,150,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	43,394,000
Accumulated Depreciation	961,000
Encumbrances	24,063,000
4550 Cherry Creek
Initial Cost
Land	7,910,000
Buildings and Improvements	70,184,000
Costs Subsequent to Acquisition/Construction	841,000
Gross Amount carried at the end of the period	78,935,000
Accumulated Depreciation	10,606,000
Encumbrances	28,600,000
55 Hundred
Initial Cost
Land	13,196,000
Buildings and Improvements	67,515,000
Costs Subsequent to Acquisition/Construction	279,000
Gross Amount carried at the end of the period	80,990,000
Accumulated Depreciation	9,851,000
Encumbrances	41,750,000
7166 at Belmar
Initial Cost
Land	3,385,000
Buildings and Improvements	52,298,000
Costs Subsequent to Acquisition/Construction	1,392,000
Gross Amount carried at the end of the period	57,075,000
Accumulated Depreciation	7,715,000
Encumbrances	22,825,000
Acacia on Santa Rosa Creek
Initial Cost
Land	8,100,000
Buildings and Improvements	29,512,000
Costs Subsequent to Acquisition/Construction	1,428,000
Gross Amount carried at the end of the period	39,040,000
Accumulated Depreciation	7,150,000
Encumbrances	29,000,000
Acappella
Initial Cost
Land	8,000,000
Buildings and Improvements	46,973,000
Costs Subsequent to Acquisition/Construction	352,000
Gross Amount carried at the end of the period	55,325,000
Accumulated Depreciation	8,994,000
Encumbrances	30,250,000
Allegro
Initial Cost
Land	3,900,000
Buildings and Improvements	55,355,000
Costs Subsequent to Acquisition/Construction	1,580,000
Gross Amount carried at the end of the period	60,835,000
Accumulated Depreciation	8,618,000
Encumbrances	0
Number of units in real estate property		121
Allusion West University
Initial Cost
Land	9,440,000
Buildings and Improvements	31,372,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	40,812,000
Accumulated Depreciation	1,084,000
Encumbrances	20,581,000
Argenta
Initial Cost
Land	11,100,000
Buildings and Improvements	81,624,000
Costs Subsequent to Acquisition/Construction	1,229,000
Gross Amount carried at the end of the period	93,953,000
Accumulated Depreciation	12,814,000
Encumbrances	51,000,000
Arpeggio Victory Park
Initial Cost
Land	11,000,000
Buildings and Improvements	47,443,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	58,443,000
Accumulated Depreciation	1,391,000
Encumbrances	29,057,000
Bailey's Crossing
Initial Cost
Land	22,214,000
Buildings and Improvements	108,145,000
Costs Subsequent to Acquisition/Construction	662,000
Gross Amount carried at the end of the period	131,021,000
Accumulated Depreciation	15,813,000
Encumbrances	76,000,000
Blue Sol
Initial Cost
Land	7,167,000
Buildings and Improvements	30,145,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	37,312,000
Accumulated Depreciation	361,000
Encumbrances	0
Briar Forest Lofts
Initial Cost
Land	4,623,000
Buildings and Improvements	40,155,000
Costs Subsequent to Acquisition/Construction	477,000
Gross Amount carried at the end of the period	45,255,000
Accumulated Depreciation	5,987,000
Encumbrances	20,571,000
Burnham Pointe
Initial Cost
Land	10,400,000
Buildings and Improvements	75,960,000
Costs Subsequent to Acquisition/Construction	2,133,000
Gross Amount carried at the end of the period	88,493,000
Accumulated Depreciation	11,747,000
Encumbrances	4,592,000
Burrough's Mill
Initial Cost
Land	10,075,000
Buildings and Improvements	51,869,000
Costs Subsequent to Acquisition/Construction	582,000
Gross Amount carried at the end of the period	62,526,000
Accumulated Depreciation	8,785,000
Encumbrances	24,848,000
Calypso Apartments and Lofts
Initial Cost
Land	13,902,000
Buildings and Improvements	42,730,000
Costs Subsequent to Acquisition/Construction	246,000
Gross Amount carried at the end of the period	56,878,000
Accumulated Depreciation	6,314,000
Encumbrances	24,000,000
The Cameron
Initial Cost
Land	25,191,000
Buildings and Improvements	77,737,000
Costs Subsequent to Acquisition/Construction	367,000
Gross Amount carried at the end of the period	103,295,000
Accumulated Depreciation	11,001,000
Encumbrances	64,914,000
The District Universal Boulevard
Initial Cost
Land	5,161,000
Buildings and Improvements	57,448,000
Costs Subsequent to Acquisition/Construction	886,000
Gross Amount carried at the end of the period	63,495,000
Accumulated Depreciation	8,315,000
Encumbrances	37,203,000
Eclipse
Initial Cost
Land	6,927,000
Buildings and Improvements	44,078,000
Costs Subsequent to Acquisition/Construction	357,000
Gross Amount carried at the end of the period	51,362,000
Accumulated Depreciation	7,016,000
Encumbrances	20,419,000
Everly
Initial Cost
Land	6,101,000
Buildings and Improvements	39,503,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	45,604,000
Accumulated Depreciation	284,000
Encumbrances	19,552,000
Fitzhugh Urban Flats
Initial Cost
Land	9,394,000
Buildings and Improvements	48,884,000
Costs Subsequent to Acquisition/Construction	489,000
Gross Amount carried at the end of the period	58,767,000
Accumulated Depreciation	7,618,000
Encumbrances	27,377,000
Forty55 Lofts
Initial Cost
Land	11,382,000
Buildings and Improvements	68,966,000
Costs Subsequent to Acquisition/Construction	326,000
Gross Amount carried at the end of the period	80,674,000
Accumulated Depreciation	10,215,000
Encumbrances	25,500,000
The Franklin Delray
Initial Cost
Land	9,065,000
Buildings and Improvements	24,229,000
Costs Subsequent to Acquisition/Construction	60,000
Gross Amount carried at the end of the period	33,354,000
Accumulated Depreciation	1,371,000
Encumbrances	0
The Gallery at NoHo Commons
Initial Cost
Land	28,700,000
Buildings and Improvements	78,309,000
Costs Subsequent to Acquisition/Construction	1,855,000
Gross Amount carried at the end of the period	108,864,000
Accumulated Depreciation	19,190,000
Encumbrances	51,300,000
Grand Reserve
Initial Cost
Land	2,980,000
Buildings and Improvements	29,231,000
Costs Subsequent to Acquisition/Construction	-783,000
Gross Amount carried at the end of the period	31,428,000
Accumulated Depreciation	3,562,000
Encumbrances	20,771,000
The Lofts at Park Crest
Initial Cost
Land	0
Buildings and Improvements	49,737,000
Costs Subsequent to Acquisition/Construction	400,000
Gross Amount carried at the end of the period	50,137,000
Accumulated Depreciation	10,190,000
Encumbrances	44,331,000
Muse Museum District
Initial Cost
Land	11,533,000
Buildings and Improvements	36,189,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	47,722,000
Accumulated Depreciation	502,000
Encumbrances	23,138,000
Pembroke Woods
Initial Cost
Land	11,520,000
Buildings and Improvements	29,807,000
Costs Subsequent to Acquisition/Construction	999,000
Gross Amount carried at the end of the period	42,326,000
Accumulated Depreciation	3,721,000
Encumbrances	0
Point 21
Initial Cost
Land	6,453,000
Buildings and Improvements	6,897,000
Costs Subsequent to Acquisition/Construction	0
Gross Amount carried at the end of the period	13,350,000
Accumulated Depreciation	21,000
Encumbrances	20,736,000
Property completion percent	90.00%
Renaissance - Phase 1
Initial Cost
Land	5,786,000
Buildings and Improvements	33,660,000
Costs Subsequent to Acquisition/Construction	807,000
Gross Amount carried at the end of the period	40,253,000
Accumulated Depreciation	4,654,000
Encumbrances	0
The Reserve at LaVista Walk
Initial Cost
Land	4,530,000
Buildings and Improvements	34,159,000
Costs Subsequent to Acquisition/Construction	889,000
Gross Amount carried at the end of the period	39,578,000
Accumulated Depreciation	6,724,000
Encumbrances	2,054,000
San Sebastian
Initial Cost
Land	7,841,000
Buildings and Improvements	29,037,000
Costs Subsequent to Acquisition/Construction	154,000
Gross Amount carried at the end of the period	37,032,000
Accumulated Depreciation	5,092,000
Encumbrances	21,000,000
Satori
Initial Cost
Land	8,223,000
Buildings and Improvements	75,126,000
Costs Subsequent to Acquisition/Construction	542,000
Gross Amount carried at the end of the period	83,891,000
Accumulated Depreciation	11,276,000
Encumbrances	51,000,000
Skye 2905
Initial Cost
Land	13,831,000
Buildings and Improvements	87,491,000
Costs Subsequent to Acquisition/Construction	-114,000
Gross Amount carried at the end of the period	101,208,000
Accumulated Depreciation	12,348,000
Encumbrances	56,100,000
Stone Gate
Initial Cost
Land	8,300,000
Buildings and Improvements	54,634,000
Costs Subsequent to Acquisition/Construction	1,615,000
Gross Amount carried at the end of the period	64,549,000
Accumulated Depreciation	8,934,000
Encumbrances	34,751,000
Uptown Post Oak
Initial Cost
Land	23,340,000
Buildings and Improvements	40,010,000
Costs Subsequent to Acquisition/Construction	1,280,000
Gross Amount carried at the end of the period	64,630,000
Accumulated Depreciation	8,735,000
Encumbrances	3,354,000
Vara
Initial Cost
Land	20,200,000
Buildings and Improvements	88,500,000
Costs Subsequent to Acquisition/Construction	429,000
Gross Amount carried at the end of the period	109,129,000
Accumulated Depreciation	5,440,000
Encumbrances	57,000,000
The Venue
Initial Cost
Land	1,520,000
Buildings and Improvements	24,249,000
Costs Subsequent to Acquisition/Construction	207,000
Gross Amount carried at the end of the period	25,976,000
Accumulated Depreciation	3,718,000
Encumbrances	10,500,000
Veritas
Initial Cost
Land	4,950,000
Buildings and Improvements	55,607,000
Costs Subsequent to Acquisition/Construction	316,000
Gross Amount carried at the end of the period	60,873,000
Accumulated Depreciation	7,138,000
Encumbrances	35,618,000
West Village
Initial Cost
Land	5,301,000
Buildings and Improvements	30,068,000
Costs Subsequent to Acquisition/Construction	551,000
Gross Amount carried at the end of the period	35,920,000
Accumulated Depreciation	5,144,000
Encumbrances	20,251,000
Mortgages and notes payable
Initial Cost
Unamortized adjustments from business combinations	4,300,000
Mortgages and notes payable | Consolidated co-investment venture
Initial Cost
Unamortized adjustments from business combinations	4,300,000	$6,700,000

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, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate:
Balance at beginning of year	$2,170,747	$2,177,429	$2,066,099
Additions, acquisitions and/or consolidation of joint ventures	292,802	163,401	140,069
Deductions, Sale of real estate property	-39,845	-170,083	-28,739
Balance at end of year	2,423,704	2,170,747	2,177,429
Accumulated Depreciation:
Balance at beginning of year	195,048	123,360	42,123
Depreciation expense	88,806	85,054	83,909
Deductions	-3,454	-13,366	-2,672
Balance at end of year	$280,400	$195,048	$123,360

Mortgage_Loans_on_Real_Estate_1

Mortgage Loans on Real Estate Schedule IV (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Mortgage Loans on Real Estate
Face Amount of Note	$59,751
Carrying Amount of Note	59,750	52,811	36,040	24,351
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Mezzanine notes due on December 2015
Mortgage Loans on Real Estate
Interest rate (as a percent)	14.50%
Face Amount of Note	22,712
Carrying Amount of Note	22,653
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Mezzanine notes due on January 2016
Mortgage Loans on Real Estate
Interest rate (as a percent)	15.00%
Face Amount of Note	12,300
Carrying Amount of Note	12,301
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Mezzanine notes due on August 2015
Mortgage Loans on Real Estate
Interest rate (as a percent)	14.50%
Face Amount of Note	9,750
Carrying Amount of Note	9,750
Principal Amount of Loans Subject to Delinquent Principal or Interest	0
Mezzanine notes due on September 2016
Mortgage Loans on Real Estate
Interest rate (as a percent)	15.00%
Face Amount of Note	14,989
Carrying Amount of Note	15,046
Principal Amount of Loans Subject to Delinquent Principal or Interest	$0

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, 2014	Dec. 31, 2013	Dec. 31, 2012
Reconciliation of the Carrying Amount of Mortgage Loans:
Balance at the beginning of the period	$52,811	$36,040	$24,351
Additions:
New mortgage loans, including advances under mezzanine loans	6,762	40,078	37,789
Capitalized acquisition costs, net of unearned fee income	133	-31	-61
Deductions:
Note receivable converted into equity investment		-4,880	-5,926
Collections of principal and loan payoffs		-18,425	-19,760
Amortization of acquisition costs and fee income	44	29	-353
Balance at the end of the period	$59,750	$52,811	$36,040