Lightstone Value Plus REIT V (LVVP) 10-K 20 Mar 15 2014 FY Annual report Financial data

Document_and_Entity_Informatio

Document and Entity Information (USD $)	12 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Feb. 28, 2015	Jun. 30, 2014
Document and Entity Information
Entity Registrant Name	Behringer Harvard Opportunity REIT II, Inc.
Entity Central Index Key	1387061
Current Fiscal Year End Date	-19
Entity Filer Category	Smaller Reporting Company
Document Type	10-K
Document Period End Date	31-Dec-14
Document Fiscal Year Focus	2014
Document Fiscal Period Focus	FY
Amendment Flag	FALSE
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Common Stock, Shares Outstanding		25,732,304
Entity Public Float			$262

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Dec. 31, 2014	Dec. 31, 2013
Real estate
Land and improvements, net	$60,374,000	$65,407,000
Buildings and improvements, net	228,650,000	219,523,000
Real estate under development	274,000	99,000
Total real estate	289,298,000	285,029,000
Assets associated with real estate held for sale	12,951,000	0
Cash and cash equivalents	72,949,000	94,877,000
Restricted cash	4,199,000	5,343,000
Accounts receivable, net	2,208,000	3,017,000
Prepaid expenses and other assets	1,402,000	1,196,000
Investment in unconsolidated joint venture	13,973,000	11,985,000
Furniture, fixtures and equipment, net	8,244,000	7,923,000
Deferred financing fees, net	2,617,000	3,185,000
Lease intangibles, net	1,850,000	1,820,000
Total assets	409,691,000	414,375,000
Liabilities and Equity
Notes payable	216,294,000	212,037,000
Accounts payable	702,000	513,000
Payables to related parties	466,000	840,000
Acquired below-market leases, net	210,000	324,000
Distributions payable to noncontrolling interest	19,000	20,000
Income taxes payable	0	183,000
Accrued and other liabilities	6,232,000	7,669,000
Obligations associated with real estate held for sale	9,212,000	0
Total liabilities	233,135,000	221,586,000
Commitments and contingencies	0	0
Equity
Preferred stock, $.0001 par value per share; 50,000,000 shares authorized, none outstanding	0	0
Convertible stock, $.0001 par value per share; 1,000 shares authorized, 1,000 outstanding	0	0
Common stock, $.0001 par value per share; 350,000,000 shares authorized, 26,060,612 and 25,267,048 shares issued and outstanding at December 31, 2012 and 2011, respectively	3,000	3,000
Additional paid-in capital	231,240,000	232,903,000
Accumulated distributions and net loss	-62,477,000	-49,520,000
Accumulated other comprehensive income (loss)	-246,000	498,000
Total Behringer Harvard Opportunity REIT II, Inc. equity	168,520,000	183,884,000
Noncontrolling interest	8,036,000	8,905,000
Total equity	176,556,000	192,789,000
Total liabilities and equity	$409,691,000	$414,375,000

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Statement of Financial Position [Abstract]
Preferred stock, par value (in dollars per share)	$0.00	$0.00
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares outstanding	0	0
Convertible stock, par value (in dollars per share)	$0.00	$0.00
Convertible stock, shares authorized	1,000	1,000
Convertible stock, shares outstanding	1,000	1,000
Common stock, par value (in dollars per share)	$0.00	$0.00
Common stock, shares authorized	350,000,000	350,000,000
Common stock, shares issued	25,801,669	26,015,980
Common stock, shares outstanding	25,801,669	26,015,980

Consolidated_Statements_of_Ope

Consolidated Statements of Operations and Comprehensive Income (Loss) (USD $)	12 Months Ended
In Thousands, except Per Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Revenues
Rental revenue	$32,226	$28,517	$21,766
Hotel revenue	16,371	14,872	10,952
Total revenues	48,597	43,389	32,718
Expenses:
Property operating expenses	11,288	9,792	6,784
Hotel operating expenses	11,954	11,363	10,001
Interest expense	7,833	7,844	6,859
Real estate taxes	5,388	4,716	3,225
Property management fees	1,642	1,521	1,171
Asset management fees	2,368	3,478	3,097
General and administrative	4,076	4,243	3,205
Acquisition expense	1,307	3,998	750
Depreciation and amortization	14,362	13,978	10,627
Total expenses	60,218	60,933	45,719
Interest income, net	224	128	128
Loss on early extinguishment of debt	-454	0	0
Other income	-38	46	88
Loss from continuing operations before equity in earnings (losses) of unconsolidated joint ventures	-11,889	-17,370	-12,785
Gain on sale of real estate	11,454	0	0
Income tax benefit (expense)	101	-183	0
Loss from continuing operations	-334	-17,553	-12,785
Income from discontinued operations, including gains on disposition	0	31,159	22,012
Net income (loss)	-334	13,606	9,227
Noncontrolling interest in continuing operations	331	577	790
Noncontrolling interest in discontinued operations	0	-5,454	-8,352
Net (income) loss attributable to the noncontrolling interest	331	-4,877	-7,562
Net income (loss) attributable to the Company	-3	8,729	1,665
Amounts attributable to the Company
Continuing operations	-3	-16,976	-11,995
Discontinuing operations	0	25,705	13,660
Net income (loss) attributable to the Company	-3	8,729	1,665
Weighted average shares outstanding:
Basic and diluted (in shares)	25,943	26,035	25,987
Net income (loss) per share
Continuing operations (in dollars per share)	$0	($0.65)	($0.46)
Discontinued operations (in dollars per share)	$0	$0.99	$0.52
Basic and diluted income (loss) per share (in dollars per share)	$0	$0.34	$0.06
Distributions declared per common share (in dollars per share)	$0.50	$0	$0.63
Comprehensive income (loss):
Net income (loss)	-334	13,606	9,227
Other comprehensive income (loss):
Reclassification of unrealized loss on interest rate derivatives to net income	58	123	0
Unrealized gain (losses) on interest rate derivatives	0	0	21
Foreign currency translation gain (loss)	-791	262	26
Total other comprehensive income (loss)	-733	385	47
Comprehensive income (loss)	-1,067	13,991	9,274
Comprehensive (income) loss attributable to noncontrolling interest	320	-4,890	-7,566
Comprehensive income (loss) attributable to common shareholders	($747)	$9,101	$1,708

Consolidated_Statements_of_Equ

Consolidated Statements of Equity (USD $)	Total	Common Stock	Additional Paid-in Capital	Accumulated Distributions and Net (Loss)	Accumulated Other Comprehensive Income (loss)	Noncontrolling Interest	Convertible Stock
In Thousands, except Share data, unless otherwise specified
Balance at Dec. 31, 2011	$197,004	$3	$225,968	($43,657)	$83	$14,607	$0
Balance (in shares) at Dec. 31, 2011		25,267,000					1,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	9,227			1,665		7,562
Issuance of common stock, net	8,347		8,347
Issuance of common stock, net (in shares)		910,000
Redemption of common stock	-1,032		-1,032
Redemption of common stock (in shares)		-117,000
Distributions declared on common stock	-16,257			-16,257
Contributions from noncontrolling interest	1,597					1,597
Distributions to noncontrolling interest	-12,400					-12,400
Other comprehensive income (loss):
Reclassification of unrealized loss on interest rate derivatives to net income	0
Unrealized gains (losses) on interest rate derivatives	21				17	4
Foreign currency translation gain (loss)	26				26
Balance at Dec. 31, 2012	186,533	3	233,283	-58,249	126	11,370	0
Balance (in shares) at Dec. 31, 2012		26,060,000					1,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	13,606			8,729		4,877
Redemption of common stock	-380		-380
Redemption of common stock (in shares)		-44,000
Contributions from noncontrolling interest	4,655					4,655
Distributions to noncontrolling interest	-12,010					-12,010
Other comprehensive income (loss):
Reclassification of unrealized loss on interest rate derivatives to net income	123				110	13
Unrealized gains (losses) on interest rate derivatives	0
Foreign currency translation gain (loss)	262				262
Balance at Dec. 31, 2013	192,789	3	232,903	-49,520	498	8,905	0
Balance (in shares) at Dec. 31, 2013		26,016,000					1,000
Increase (Decrease) in Stockholders' Equity
Net income (loss)	-334			-3		-331
Redemption of common stock	-1,663		-1,663
Redemption of common stock (in shares)		-214,000
Distributions declared on common stock	-12,954			-12,954
Contributions from noncontrolling interest	273					273
Distributions to noncontrolling interest	-822					-822
Other comprehensive income (loss):
Reclassification of unrealized loss on interest rate derivatives to net income	58				47	11
Unrealized gains (losses) on interest rate derivatives	0
Foreign currency translation gain (loss)	-791				-791
Balance at Dec. 31, 2014	$176,556	$3	$231,240	($62,477)	($246)	$8,036	$0
Balance (in shares) at Dec. 31, 2014		25,802,000					1,000

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)	($334)	$13,606	$9,227
Adjustments to reconcile net income (loss) to net cash flows provided by (used in) operating activities:
Depreciation and amortization	14,217	16,507	15,930
Amortization of deferred financing fees	779	949	1,049
Gain on sale of discontinued operations	-11,454	-31,558	-29,358
Loss on early extinguishment of debt	454	265	1,905
Loss on derivatives	215	94	0
Change in operating assets and liabilities:
Accounts receivable	-235	-373	-1,055
Prepaid expenses and other assets	-358	458	176
Accounts payable	210	-1,246	126
Accrued and other liabilities	-1,305	549	701
Net payables to related parties	-375	277	199
Addition of lease intangibles	-313	-631	-486
Cash provided by (used in) operating activities	1,501	-1,103	-1,586
Cash flows from investing activities:
Acquisition deposits reimbursed	500	247	0
Acquisition deposits paid	0	-500	-589
Purchases of real estate	-60,433	-74,685	-11,039
Investment in unconsolidated joint venture	-1,988	-14,429	0
Return of investment in unconsolidated joint ventures	0	2,444	0
Proceeds from sale of discontinued operations	46,300	83,506	101,654
Additions of property and equipment	-8,566	-8,043	-13,646
Change in restricted cash	1,144	133	2,125
Cash provided by (used in) investing activities	-23,043	-11,327	78,505
Cash flows from financing activities:
Financing costs	-670	-1,228	-1,818
Proceeds from notes payable	33,500	47,710	24,033
Payments on notes payable	-17,791	-12,987	-80,831
Purchase of interest rate derivatives	-7	-133	0
Issuance of common stock	0	0	6,142
Redemptions of common stock	-1,663	-380	-1,032
Offering costs receivable from (payable to) related party	0	3,832	-567
Distributions	-12,954	0	-14,536
Contributions from noncontrolling interest holders	273	4,655	1,597
Distributions to noncontrolling interest holders	-822	-11,990	-12,400
Cash provided by (used in) financing activities	-134	29,479	-79,412
Effect of exchange rate changes on cash and cash equivalents	-252	76	115
Net change in cash and cash equivalents	-21,928	17,125	-2,378
Cash and cash equivalents at beginning of year	94,877	77,752	80,130
Cash and cash equivalents at end of year	$72,949	$94,877	$77,752

Business_and_Organization

Business and Organization	12 Months Ended
	Dec. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Business and Organization	Business and Organization
	Business
	Behringer Harvard Opportunity REIT II, Inc. (which may be referred to as the "Company," "we," "us," or "our") was organized as a Maryland corporation on January 9, 2007 and has elected to be taxed, and currently qualifies, as a real estate investment trust ("REIT") for federal income tax purposes.
	We were formed primarily to acquire and operate commercial real estate and real estate-related assets on an opportunistic and value-add basis. In particular, we have focused generally on acquiring commercial properties with significant possibilities for capital appreciation, such as those requiring development, redevelopment, or repositioning, those located in markets and submarkets with high growth potential, and those available from sellers who are distressed or face time-sensitive deadlines. We have acquired a wide variety of commercial properties, including office, industrial, retail, hospitality and multifamily. We have purchased existing, income-producing properties and newly-constructed properties. We have also invested in a mortgage loan and a mezzanine loan. Although we acquired one property in 2014, we are not actively seeking to purchase additional assets at this time, but may invest capital in our current assets in order to position them for sale in the normal course of business. We intend to hold the various real properties in which we invest until such time as our Advisor determines that a sale or other disposition appears to be advantageous to achieve our investment objectives or until it appears that such objectives will not be met. As of December 31, 2014, we had 13 real estate investments, 12 of which were consolidated, including Babcock Self Storage ("Babcock") and Alte Jakobstraße ("AJS"), which are classified as real estate held for sale in our consolidated balance sheet. We sold Babcock and AJS on January 8, 2015 and February 21, 2015, respectively. We sold our 1875 Lawrence office building on May 30, 2014. Two of our consolidated properties are wholly owned and ten properties are consolidated through investments in joint ventures.
	Substantially all of our business is conducted through Behringer Harvard Opportunity OP II LP, a limited partnership organized in Delaware ("Behringer Harvard Opportunity OP II"). As of December 31, 2014, our wholly-owned subsidiary, BHO II, Inc., a Delaware corporation, owned a 0.1% partnership interest in Behringer Harvard Opportunity OP II as its sole general partner. As of December 31, 2014, our wholly-owned subsidiary, BHO Business Trust II, a Maryland business trust, was the sole limited partner of Behringer Harvard Opportunity OP II and owned the remaining 99.9% interest in Behringer Harvard Opportunity OP II.
	We are externally managed and advised by Behringer Harvard Opportunity Advisors II, LLC (the "Advisor"). The Advisor is responsible for managing our day-to-day affairs and for identifying and making acquisitions and investments on our behalf.
	Organization
	We commenced an initial public offering of up to 125,000,000 shares of our common stock on January 21, 2008 (the "Initial Offering"), of which 25,000,000 shares were offered pursuant to our distribution reinvestment plan (the "DRP"). On July 3, 2011, the Initial Offering terminated in accordance with its terms. On July 5, 2011, we commenced a follow-on public offering of up to 75,000,000 shares of our common stock (the "Follow-On Offering" and, together with the Initial Offering, the "Offerings"), of which 25,000,000 shares were offered pursuant to the DRP. We terminated the primary component of the Follow-On Offering effective March 15, 2012 and the DRP component of the Follow-On Offering effective April 3, 2012. We raised gross offering proceeds of approximately $265.3 million from the sale of approximately 26.7 million shares under the Offerings, including shares sold under the DRP.
	In connection with our initial capitalization, on January 19, 2007, we issued 22,471 shares of our common stock and 1,000 shares of our convertible stock to Behringer Harvard Holdings, LLC ("Behringer"). Behringer transferred its shares of convertible stock to one of its affiliates on April 2, 2010.
	As of December 31, 2014, we had issued 26.7 million shares of our common stock, including 22,471 shares owned by Behringer and 2.2 million shares issued through the DRP. As of December 31, 2014, we had redeemed 0.9 million shares of our common stock and had 25.8 million shares of common stock outstanding. As of December 31, 2014, we had 1,000 shares of convertible stock held by an affiliate of Behringer.
	Our common stock is not currently listed on a national securities exchange.  The timing of a liquidity event will depend upon then prevailing market conditions. We currently intend to consider the process of disposing assets, liquidating, and distributing the net proceeds to our stockholders no later than three to six years after the termination of our initial public offering of common stock which occurred on July 3, 2011.  Economic or market conditions may, however, result in different holding periods for different assets. If we do not begin an orderly liquidation, we may seek to have our shares listed on a national securities exchange or seek alternative liquidation opportunities.

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

Use of Estimates in the Preparation of Financial Statements

The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include such items as purchase price allocation for real estate acquisitions, impairment of long-lived assets, depreciation and amortization, and allowance for doubtful accounts. Actual results could differ from those estimates.

Principles of Consolidation and Basis of Presentation

Our consolidated financial statements include our accounts and the accounts of other subsidiaries over which we have control. All inter-company transactions, balances, and profits have been eliminated in consolidation. Interests in entities acquired will be evaluated based on applicable GAAP, which includes the requirement to consolidate entities deemed to be variable interest entities ("VIE") in which we are the primary beneficiary. If the interest in the entity is determined not to be a VIE, then the entity will be evaluated for consolidation based on legal form, economic substance, and the extent to which we have control and/or substantive participating rights under the respective ownership agreement. For entities in which we have less than a controlling interest or entities which we are not deemed to be the primary beneficiary, we account for the investment using the equity method of accounting.

There are judgments and estimates involved in determining if an entity in which we have made an investment is a VIE and, if so, whether we are the primary beneficiary.  The entity is evaluated to determine if it is a VIE by, among other things, calculating the percentage of equity being risked compared to the total equity of the entity.  Determining expected future losses involves assumptions of various possibilities of the results of future operations of the entity, assigning a probability to each possibility and using a discount rate to determine the net present value of those future losses.  A change in the judgments, assumptions, and estimates outlined above could result in consolidating an entity that should not be consolidated or accounting for an investment using the equity method that should in fact be consolidated, the effects of which could be material to our financial statements.

In the Notes to Consolidated Financial Statements, all dollar and share amounts in tabulation are in thousands of dollars and shares, respectively, unless otherwise noted.

Real Estate

Upon the acquisition of real estate properties, we recognize the assets acquired, the liabilities assumed and any noncontrolling interest as of the acquisition date, measured at their fair values. The acquisition date is the date on which we obtain control of the real estate property. The assets acquired and liabilities assumed may consist of land, inclusive of associated rights, buildings, assumed debt, identified intangible assets and liabilities and asset retirement obligations. Identified intangible assets generally consist of above-market leases, in-place leases, in-place tenant improvements, in-place leasing commissions and tenant relationships. Identified intangible liabilities generally consist of below-market leases. Goodwill is recognized as of the acquisition date and measured as the aggregate fair value of the consideration transferred and any noncontrolling interests in the acquiree over the fair value of the 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 interests in the acquiree is less than the fair value of the identifiable net assets acquired. Acquisition-related costs are expensed in the period incurred. Initial valuations are subject to change until our information is finalized, which is no later than twelve months from the acquisition date.

The fair value of the tangible assets acquired, consisting of land and buildings, is determined by valuing the property as if it were vacant, and the "as-if-vacant" value is then allocated to land and buildings. Land values are derived from appraisals, and building values are calculated as replacement cost less depreciation or management's estimates of the fair value of these assets using discounted cash flow analyses or similar methods believed to be used by market participants. The value of hotels and all other buildings is depreciated over the estimated useful lives of 39 years and 25 years, respectively, using the straight-line method.

We determine the fair value of assumed debt by calculating the net present value of the scheduled mortgage payments using interest rates for debt with similar terms and remaining maturities that management believes we could obtain at the date of the debt assumption. 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 using the effective interest method.

We determine the value of above-market and below-market 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) management's estimate of current market lease rates for the corresponding in-place leases, measured over a period equal to (a) the remaining non-cancelable lease term for above-market leases, or (b) the remaining non-cancelable lease term plus any below-market fixed rate renewal options that, based on a qualitative assessment of several factors, including the financial condition of the lessee, the business conditions in the industry in which the lessee operates, the economic conditions in the area in which the property is located, and the ability of the lessee to sublease the property during the renewal term, are reasonably assured to be exercised by the lessee 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 determined lease term.

The total value of identified real estate intangible assets acquired is further allocated to in-place leases, in-place tenant improvements, in-place leasing commissions and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant.  The aggregate value for tenant improvements and leasing commissions is based on estimates of these costs incurred at inception of the acquired leases, amortized through the date of acquisition.  The aggregate value of in-place leases acquired and tenant relationships is determined 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 spaces considering existing market conditions.  In estimating the carrying costs that would have otherwise been incurred had the leases not been in place, we include such items as real estate taxes, insurance and other operating expenses as well as lost rental revenue during the expected lease-up period based on existing market conditions.  The estimates of the fair value of tenant relationships also include costs to execute similar leases including leasing commissions, legal fees and tenant improvements as well as an estimate of the likelihood of renewal as determined by management on a tenant-by-tenant basis.

We amortize the value of in-place leases, in-place tenant improvements and in-place leasing commissions to expense over the initial term of the respective leases.  The tenant relationship values are amortized to expense over the initial term and any anticipated renewal periods, but in no event does the amortization period for intangible assets or liabilities exceed the remaining depreciable life of the building.  Should a tenant terminate its lease, the unamortized portion of the acquired lease intangibles related to that tenant would be charged to expense.

Anticipated amortization expense associated with the acquired lease intangibles for each of the following five years ended December 31 is as follows:

Year

Lease / Other

Intangibles(1)

2015

$

1,122

2016

91

2017

55

2018

20

2019

9

_________________________

-1

Excludes AJS which was classified as held for sale as of December 31, 2014 and sold on February 21, 2015. Babcock, also classified as held for sale at December 31, 2014, did not have any lease intangibles.

Accumulated depreciation and amortization related to our consolidated investments in real estate assets and intangibles were as follows:

December 31, 2014

Buildings and

Land and

Lease

Acquired

Improvements

Improvements

Intangibles

Below-Market

Leases

Cost(1)

$

252,812

$

62,447

$

4,551

$

(469

)

Less: depreciation and amortization(1)

(24,162

)

(2,073

)

(2,701

)

259

Net

$

228,650

$

60,374

$

1,850

$

(210

)

______________________________________________

-1

Excludes Babcock and AJS which were classified as held for sale as of December 31, 2014. These two properties sold on January 8, 2015 and February 21, 2015, respectively. Net book values included in assets associated with real estate held for sale in the consolidated balance sheet were buildings and improvements of $9.6 million, land and improvements of $3.2 million, lease intangibles of $0.2 million and acquired below-market leases of less than $0.1 million. See Note 7, Real Estate Held for Sale.

December 31, 2013

Buildings and

Land and

Lease

Acquired

Improvements

Improvements

Intangibles

Below-Market

Leases

Cost

$

241,881

$

66,828

$

8,102

$

(768

)

Less: depreciation and amortization

(22,358

)

(1,421

)

(6,282

)

444

Net

$

219,523

$

65,407

$

1,820

$

(324

)

Real Estate Held for Sale and Discontinued Operations

We classify properties as held for sale when certain criteria are met, in accordance with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. During the fourth quarter of 2014, we entered into Purchase and Sale Agreements ("PSA") for Babcock, a self storage facility in Texas, and AJS, one of our two office buildings located in Germany, and classified Babcock and AJS as real estate held for sale in our consolidated balance sheet at December 31, 2014. We sold Babcock on January 8, 2015 and AJS on February 21, 2015. We had no assets classified as held for sale at December 31, 2013.

Effective as of April 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 April 1, 2014, we will evaluate whether a disposal transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as discontinued operations for all periods presented; if not, it will be presented in continuing operations.

Cash and Cash Equivalents

We consider investments in highly liquid money market funds or investments with original maturities of three months or less to be cash equivalents. The carrying amount of cash and cash equivalents reported on the balance sheet approximates fair value.

Restricted Cash

As required by our lenders, restricted cash is held in escrow accounts for anticipated capital expenditures, real estate taxes and other reserves for our consolidated properties. Capital reserves are typically utilized for non-operating expenses such as tenant improvements, leasing commissions and major capital expenditures. Alternatively, a lender may require its own formula for an escrow of capital reserves.

Investment Impairment

For all of our real estate and real estate related investments, we monitor events and changes in circumstances indicating that the carrying amounts of the real estate assets may not be recoverable.  Examples of the types of events and circumstances that would cause management to assess our assets for potential impairment include, but are not limited to: a significant decrease in the market price of an asset; a significant adverse change in the manner in which the asset is being used; an accumulation of costs in excess of the acquisition basis plus construction of the property; major vacancies and the resulting loss of revenues; natural disasters; a change in the projected holding period; legitimate purchase offers and changes in the global and local markets or economic conditions.  Our assets may at times be concentrated in limited geographic locations and, to the extent that our portfolio is concentrated in limited geographic locations, downturns specifically related to such regions may result in tenants defaulting on their lease obligations at a portion of our properties within a short time period, which may result in asset impairments.  When such events or changes in circumstances are present, we assess potential impairment by comparing estimated future undiscounted operating cash flows expected to be generated over the life of the asset and from its eventual disposition to the carrying amount of the asset.  These projected cash flows are prepared internally by the Advisor and reflect in-place and projected leasing activity, market revenue and expense growth rates, market capitalization rates, discount rates, and changes in economic and other relevant conditions. The Company’s Principal Executive Officer and Principal Financial Officer, as well as a panel of asset managers and a financial analyst of the Advisor, review these projected cash flows to assure that the valuation is prepared using reasonable inputs and assumptions that are consistent with market data or with assumptions that would be used by a third-party market participant and assume the highest and best use of the investment. We consider trends, strategic decisions regarding future development plans, and other factors in our assessment of whether impairment conditions exist. In the event that the carrying amount exceeds the estimated future undiscounted operating cash flows, we recognize an impairment loss to adjust the carrying amount of the asset to estimated fair value. While we believe our estimates of future cash flows are reasonable, different assumptions regarding factors such as market rents, economic conditions, and occupancy rates could significantly affect these estimates.

In evaluating our investments for impairment, management may use appraisals and make estimates and assumptions, including, but not limited to, the projected date of disposition of the properties, the estimated future cash flows of the properties during our ownership, and the projected sales price of each of the properties.  A future change in these estimates and assumptions could result in understating or overstating the carrying value of our investments, which could be material to our financial statements. In addition, we may incur impairment charges on assets classified as held for sale in the future if the carrying amount of the asset upon classification as held for sale exceeds the estimated fair value, less costs to sell.

We also evaluate our investments in unconsolidated joint ventures at each reporting date.  If we believe there is an other than temporary decline in market value, we will record an impairment charge based on these evaluations.  We assess potential impairment by comparing our portion of estimated future undiscounted operating cash flows expected to be generated by the joint venture over the life of the joint venture’s assets to the carrying amount of the joint venture.  In the event that the carrying amount exceeds our portion of estimated future undiscounted operating cash flows, we recognize an impairment loss to adjust the carrying amount of the joint venture to its estimated fair value.

We believe the carrying value of our operating real estate is currently recoverable. Accordingly, there were no impairment charges for the years ended December 31, 2014, 2013, and 2012. However, if market conditions worsen unexpectedly or if changes in our strategy significantly affect any key assumptions used in our fair value calculations, we may need to take charges in future periods for impairments related to our existing investments. Any such non-cash charges would have an adverse effect on our consolidated financial position and results of operations.

Investment in Unconsolidated Joint Venture

We provide funding to third party developers for the acquisition, development and construction of real estate (“ADC Arrangement”).  Under the ADC Arrangement, we may participate in the residual profits of the project through the sale or refinancing of the property.  We evaluate this arrangement to determine if they have characteristics similar to a loan or if the characteristics are more similar to a joint venture or partnership such as participating in the risks and rewards of the project as an owner or an investment partner.  When we determine that the characteristics are more similar to a jointly-owned investment or partnership, we account for the arrangement as an investment in an unconsolidated joint venture under the equity method of accounting or a direct investment (consolidated basis of accounting) instead of applying loan accounting. The ADC Arrangement is reassessed at each reporting period. See Note 8, Investment in Unconsolidated Joint Venture, for further discussion.

Revenue Recognition

We recognize rental income generated from leases of our operating properties on a straight-line basis over the terms of the respective leases, including the effect of rent holidays, if any. Straight-line rent was income of $0.2 million recognized in rental revenues for the year ended December 31, 2014. Straight-line rent was income of $0.4 million, and $0.3 million recognized in rental revenues for the years ended December 31, 2013 and 2012, respectively, and included amounts recognized in discontinued operations. Leases associated with our multifamily, student housing, hotel and self-storage assets are generally short-term in nature, and thus have no straight-line rent. Net above-market lease amortization of less than $0.1 million was recognized in rental revenues for the year ended December 31, 2014. Net above-market lease amortization of less than $0.1 million was recognized in rental revenues for the year ended December 31, 2013 and included amounts recognized in discontinued operations. Net below-market lease amortization of $0.2 million was recognized in rental revenues for the year ended December 31, 2012 and included amounts recognized in discontinued operations.

Hotel revenue is derived from the operations of the Courtyard Kauai Coconut Beach Hotel and consists primarily of guest room, food and beverage, and other ancillary revenues such as laundry and parking. Hotel revenue is recognized as the services are rendered.

Accounts Receivable

Accounts receivable primarily consist of receivables related to our consolidated properties of $2.2 million and $3 million as of December 31, 2014 and 2013, respectively, and included straight-line rental revenue receivables of $0.6 million and $1 million as of December 31, 2014 and 2013, respectively.

Prepaid Expenses and Other Assets

Prepaid expenses and other assets of $1.4 million and $1.2 million as of December 31, 2014 and 2013, respectively, included prepaid directors' and officers' insurance, as well as prepaid insurance of our consolidated properties.

Furniture, Fixtures, and Equipment

Furniture, fixtures, and equipment are recorded at cost and are depreciated according to the Company’s capitalization policy which uses the straight-line method over their estimated useful lives of five to seven years. Properties classified as held for sale are not depreciated. Maintenance and repairs are charged to operations as incurred. Accumulated depreciation associated with our furniture, fixtures, and equipment was $6.4 million and $4.2 million as of December 31, 2014 and 2013, respectively.

Deferred Financing Fees

Deferred financing fees are recorded at cost and are amortized to interest expense of our notes payable using a straight-line method that approximates the effective interest method over the life of the related debt. Accumulated amortization of deferred financing fees was $2.2 million and $1.8 million as of December 31, 2014 and 2013, respectively.

Derivative Financial Instruments

Our objective in using derivatives is to add stability to interest expense and to manage our exposure to interest rate movements or other identified risks and to minimize the variability caused by foreign currency translation risk related to our net investment in foreign real estate. To accomplish these objectives, we use various types of derivative instruments to manage fluctuations in cash flows resulting from interest rate risk attributable to changes in the benchmark interest rate of LIBOR. These instruments include LIBOR-based interest rate swaps and caps. For our net investments in foreign real estate, we may use foreign exchange put/call options to eliminate the impact of foreign currency exchange movements on our financial position.

We measure our derivative instruments and hedging activities at fair value and record them as an asset or liability, depending on our rights or obligations under the applicable derivative contract. Changes in fair value of derivative instruments not designated as hedges are recognized in earnings in the affected period.

As of December 31, 2014, we do not have any derivatives designated as net investment hedges, fair value hedges or cash flow hedges. No derivatives were being used for trading or speculative purposes. See Note 4, Assets and Liabilities Measured at Fair Value, and Note 11, Derivative Instruments and Hedging Activities, for further information regarding our derivative financial instruments.

Income Taxes

We have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"), and have qualified as a REIT since the year ended December 31, 2008. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our REIT taxable income to our stockholders. As a REIT, we generally will not be subject to federal income tax at the corporate level. We are organized and operate in such a manner as to qualify for taxation as a REIT under the Code and intend to continue to operate in such a manner, but no assurance can be given that we will operate in a manner so as to qualify or remain qualified as a REIT. Taxable income from non-REIT activities managed through a taxable REIT subsidiary ("TRS") is subject to applicable federal, state, and local income and margin taxes. We have no taxable income associated with a TRS. Our operating partnerships are flow-through entities and are not subject to federal income taxes at the entity level.

We have reviewed our tax positions under GAAP guidance that clarify the relevant criteria and approach for the recognition and measurement of uncertain tax positions. The guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken, or expected to be taken, in a tax return. A tax position may only be recognized in the financial statements if it is more likely than not that the tax position will be sustained upon examination. We believe it is more likely than not that the tax positions taken relative to our federal tax status as a REIT will be sustained in any tax examination.

Foreign Currency Translation

For our international investments where the functional currency is other than the U.S. dollar, assets and liabilities are translated using period-end exchange rates, while the statement of operations amounts are translated using the average exchange rates for the respective period. Gains and losses resulting from the change in exchange rates from period to period are reported separately as a component of other comprehensive income (loss) ("OCI"). Gains and losses resulting from foreign currency transactions are included in the consolidated statements of operations and comprehensive income (loss).

The Euro is the functional currency for the operations of Holstenplatz and Alte Jakobstraße. We also maintain a Euro-denominated bank account that is translated into U.S. dollars at the current exchange rate at each reporting period. For the three years ended December 31, 2014, 2013, and 2012, the foreign currency translation adjustment was a loss of $0.8 million, a gain of $0.3 million and a gain of less than $0.1 million, respectively.

Other Comprehensive Income (Loss)

Items of other comprehensive income (loss) consist of gains and losses affecting equity that are excluded from net income (loss) under GAAP. The components of OCI consist of cumulative foreign currency translation gains and losses and the unrealized gain on derivative instruments.

Stock-Based Compensation

We have adopted a stock-based incentive award plan for our directors and consultants and for employees, directors and consultants of our affiliates. We have not issued any stock-based awards under the plan as of December 31, 2014.

Concentration of Credit Risk

At December 31, 2014 and 2013, we had cash and cash equivalents deposited in certain financial institutions in excess of federally insured levels.  We have diversified our cash and cash equivalents among several banking institutions in an attempt to minimize exposure to any one of these entities.  We regularly monitor the financial stability of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents or restricted cash.

Geographic and Asset Type Concentration

Our investments in target assets may at times be concentrated in certain asset types that are subject to higher risk of foreclosure, or secured by assets concentrated in a limited number of geographic locations. For the year ended December 31, 2014, excluding assets held for sale and 1875 Lawrence sold in 2014, 36% and 23% of our total revenues were derived from our properties located in Hawaii and Florida, respectively. Additionally, excluding assets held for sale and 1875 Lawrence, 37%, 36%, 18%, and 9% of our total revenues for the year ended December 31, 2014 were from our four asset types, multifamily, hotel, student housing and office buildings, respectively. To the extent that our portfolio is concentrated in limited geographic regions or types of assets, downturns relating generally to such region or type of asset may result in defaults on a number of our investments within a short time period, which may reduce our net income and the value of our common stock and accordingly limit our ability to fund our operations.

Noncontrolling Interest

Noncontrolling interest represents the noncontrolling ownership interest’s proportionate share of the equity in our consolidated real estate investments.  Income and losses are allocated to noncontrolling interest holders based generally on their ownership percentage.  In certain instances, our joint venture agreement provides for liquidating distributions based on achieving certain return metrics (“promoted interest”).  If a property reaches a defined return threshold, then it will result in distributions to noncontrolling interest which is different from the standard pro-rata allocation percentage.

Earnings per Share

Net income (loss) per share is calculated based on the weighted average number of common shares outstanding during each period. The weighted average shares outstanding used to calculate both basic and diluted income (loss) per share were the same for each of the three years ended December 31, 2014, 2013 and 2012, as there were no potentially dilutive securities outstanding.

Reclassification

To conform to the presentation for the years ended December 31, 2014 and 2013, which present hotel operating expense as a separate component of property operating expense on our consolidated statements of operations and comprehensive income, we reclassified $10 million from property operating expense to hotel operating expense for the year ended December 31, 2012.

Reportable Segments

GAAP establishes standards for reporting financial and descriptive information about an enterprise's reportable segments. We have determined that we have one reportable segment, with activities related to the ownership, development and management of real estate assets. Our chief operating decision maker evaluates operating performance on an individual property level. Therefore, our properties are aggregated into one reportable segment.

Subsequent Events

We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.

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 March 2013, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update No. 2013-05 ("ASU 2013-05"), Foreign Currency Matters, Parent's Accounting for the Cumulative Translation Adjustment upon Derecognition of Certain Subsidiaries or Groups of Assets within a Foreign Entity or of an Investment in a Foreign Entity.  ASU 2013-05 specifies that a cumulative translation adjustment ("CTA") should be released into earnings when an entity ceases to have a controlling financial interest in a subsidiary or group of assets within a consolidated foreign entity and the sale or transfer results in the complete or substantially complete liquidation of the foreign entity. For sales of an equity method investment that is a foreign entity, a pro rata portion of CTA attributable to the investment would be recognized in earnings when the investment is sold. When an entity sells either a part or all of its investment in a consolidated foreign entity, CTA would be recognized in earnings only if the sale results in the parent no longer having a controlling financial interest in the foreign entity. ASU 2013-05 is effective for public companies for fiscal years, and interim periods within those years, beginning after December 15, 2013. For nonpublic entities, the amendments are effective for fiscal years beginning after December 15, 2014, and interim and annual periods thereafter. ASU 2013-05 should be applied prospectively to derecognition events occurring after the effective date. Early adoption is permitted. The Company will adopt ASU 2013-05 effective January 1, 2015. We are currently evaluating the impact of the adoption of ASU 2013-05 on our consolidated financial statements and notes therein.
	In April 2014, the FASB issued Accounting Standards Update No. 2014-08 (“ASU 2014-08”), Presentation of Financial Statements and Property, Plant, and Equipment (Topics 205 and 360): Reporting Discontinued Operations and Disclosures of Disposals of Components of an Entity.  The updated guidance revised the definition of a discontinued operation by limiting discontinued operations reporting to disposals of components of an entity 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. In addition, ASU 2014-08 requires expanded disclosures for discontinued operations so users of the financial statements will be provided with more information about the assets, liabilities, revenues and expenses of discontinued operations. We adopted this guidance effective April 1, 2014. Our results of operations and gains on real estate sold beginning April 1, 2014 that 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 April 1, 2014 that were reported in discontinued operations in prior reporting periods will continue to be reported as discontinued operations.
	In May 2014, the FASB issued an update (“ASU 2014-09”) to ASC Topic 606, Revenue from Contracts with Customers.  ASU 2014-09 outlines a single comprehensive model for entities to use in accounting for revenue arising from contracts with customers and supersedes most of the existing revenue recognition guidance.  ASU 2014-09 requires an entity to recognize revenue when it transfers promised goods or services to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services and also requires certain additional disclosures.  ASU 2014-09 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2016.  We are currently evaluating the impact of the adoption of ASU 2014-09 on our consolidated financial statements.
	In July 2014, the FASB issued an update ("ASU 2014-15"), Disclosure of Uncertainties about an Entity's Ability to Continue as a Going Concern. ASU 2014-15 requires management's assessment of a company's ability to continue as a going concern and provide related footnote disclosures when conditions give rise to substantial doubt about a company's ability to continue as a going concern within one year from the financial statement issuance date. ASU 2014-15 applies to all companies and is effective for the annual period ending after December 15, 2016, and all annual and interim periods thereafter. We are currently evaluating the impact of the adoption of ASU 2014-15 on our consolidated financial statements.
	In January 2015, the FASB issued ("ASU 2015-01"), Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items. ASU 2015-01 eliminates the concept of an extraordinary item from U.S. GAAP. An entity is no longer required to (i) segregate an extraordinary item from the results of ordinary operations; (ii) separately present an extraordinary item on its income statement, net of tax, after income from continuing operations; and (iii) disclose income taxes and earnings per share data applicable to an extraordinary item. ASU 2015-01 does not affect disclosure guidance for events or transactions that are unusual in nature or infrequent in occurrence. ASU 2015-01 is effective for interim and annual reporting periods in fiscal years that begin after December 15, 2015, with early adoption permitted. We do not expect the adoption of ASU 2015-01 to impact our consolidated financial statements and notes therein.
	In February 2015, the FASB issued ("ASU No. 2015-02"), Amendments to the Consolidation Analysis, which improves targeted areas of the consolidation guidance and reduces the number of consolidation models. The amendments in ASU 2015-02 are effective for interim and annual reporting periods in fiscal years beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the effect this guidance will have on its consolidated financial statements.

Assets_and_Liabilities_Measure

Assets and Liabilities Measured at Fair Value	12 Months Ended
	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Assets and Liabilities Measured at Fair Value	Assets and Liabilities Measured at Fair Value
	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, foreign exchange 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.
	Recurring Fair Value Measurements
	Currently, we use interest rate swaps and caps to manage our interest rate risk.  The valuation of these instruments is determined using widely accepted valuation techniques, including discounted cash flow analysis on the expected cash flows of each derivative.  This analysis reflects the contractual terms of the derivatives, including the period to maturity, and uses observable market-based inputs, including interest rate curves, implied volatilities, and foreign currency exchange rates.
	We incorporate credit valuation adjustments to appropriately reflect both our own nonperformance risk and the respective counterparty’s nonperformance risk in the fair value measurements.  Although we have determined that the majority of the inputs used to value our derivatives fall within Level 2 of the fair value hierarchy, the credit valuation adjustments associated with our derivatives utilize Level 3 inputs, such as estimates of current credit spreads, to evaluate the likelihood of default by itself and its counterparties.  However, as of December 31, 2014, we have assessed the significance of the impact of the credit valuation adjustments on the overall valuation of our derivative positions and have determined that the credit valuation adjustments are not significant to the overall valuation of our derivatives.  As a result, we have determined that our derivative valuations in their entirety are classified in Level 2 of the fair value hierarchy.
	The following fair value hierarchy table presents information about our assets measured at fair value on a recurring basis as of December 31, 2014 and 2013:
	31-Dec-14	Level 1		Level 2		Level 3		Total
	Assets
	Derivative financial instruments	$	—	$	28	$	—	$	28
	31-Dec-13	Level 1		Level 2		Level 3		Total
	Assets
	Derivative financial instruments	$	—	$	174	$	—	$	174
	Derivative financial instruments classified as assets are included in prepaid expenses and other assets on the balance sheet.

Financial_Instruments_not_Repo

Financial Instruments not Reported at Fair Value	12 Months Ended
	Dec. 31, 2014
Fair Value Disclosures [Abstract]
Financial Instruments not Reported at Fair Value	Financial Instruments not Reported at Fair Value
	We determined the following disclosure of estimated fair values using available market information and appropriate valuation methodologies. However, considerable judgment is necessary to interpret market data and develop the related estimates of fair value. The use of different market assumptions and/or estimation methodologies may have a material effect on the estimated fair value amounts.
	As of December 31, 2014 and 2013, management estimated that the carrying value of cash and cash equivalents, restricted cash, accounts receivable, prepaid expenses and other assets, accounts payable, accrued expenses, other liabilities, payables/receivables from related parties, and distributions payable to noncontrolling interests were at amounts that reasonably approximated their fair value based on their highly-liquid nature and/or short-term maturities. The notes payable of $216.3 million, excluding $9.1 million of contractual obligations on real estate held for sale, and $212 million as of December 31, 2014 and 2013, respectively, have a fair value of approximately $217.1 million and $207.8 million as of December 31, 2014 and 2013, respectively, based upon interest rates for debt with similar terms and remaining maturities that management believes we could obtain. The fair value of the notes payable is categorized as a Level 2 basis. The fair value is estimated using a discounted cash flow analysis valuation on the borrowing rates currently available for loans with similar terms and maturities. The fair value of the notes payable was determined by discounting the future contractual interest and principal payments by a market rate. Disclosure about fair value of financial instruments is based on pertinent information available to management as of December 31, 2014 and 2013.

Real_Estate_and_Real_EstateRel

Real Estate and Real Estate-Related Investments	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Real Estate and Real Estate-Related Investments	Real Estate and Real Estate-Related Investments
	As of December 31, 2014, we consolidated 12 real estate assets, including Babcock and AJS which are classified as real estate held for sale in our consolidated balance sheet. The following table presents certain information about our consolidated investments as of December 31, 2014:
	Property Name		Description		Location	Date Acquired		Ownership
								Interest
	Holstenplatz		Office building		Hamburg, Germany	June 30, 2010		100	%
	Gardens Medical Pavilion(1)		Medical office building		Palm Beach Gardens, Florida	October 20, 2010(1)		79.8	%	-1
	Courtyard Kauai Coconut Beach Hotel		Hotel		Kauai, Hawaii	October 20, 2010		80	%
	River Club and the		Student housing		Athens, Georgia	April 25, 2011		85	%
	Townhomes at River Club
	Babcock Self Storage(2)		Self-storage		San Antonio, Texas	August 30, 2011		85	%
	Lakes of Margate		Multifamily		Margate, Florida	October 19, 2011		92.5	%
	Arbors Harbor Town		Multifamily		Memphis, Tennessee	December 20, 2011		94	%
	Alte Jakobstraße(2)		Office building		Berlin, Germany	April 5, 2012		99.7	%
	Wimberly at Deerwood ("Wimberly")		Multifamily		Jacksonville, Florida	19-Feb-13		95	%
	22 Exchange		Student housing		Akron, Ohio	16-Apr-13		90	%
	Parkside Apartments ("Parkside")		Multifamily		Sugarland, Texas	8-Aug-13		90	%
	Lakewood Flats		Multifamily		Dallas, Texas	10-Oct-14		100	%
	____________________________
	-1	We acquired a portfolio of eight medical office buildings, known as the Original Florida MOB Portfolio, on October 8, 2010.  We acquired a medical office building known as Gardens Medical Pavilion on October 20, 2010.  Collectively, the Original Florida MOB Portfolio and Gardens Medical Pavilion were referred to as the Florida MOB Portfolio.  The Florida MOB Portfolio consisted of nine medical office buildings.  On September 20, 2013, we sold the Original Florida MOB Portfolio. As of December 31, 2014, we own approximately 79.8% of the ninth building, Gardens Medical Pavilion.
	-2	We sold our Babcock and AJS properties on January 8, 2015 and February 21, 2015, respectively. Both properties are classified as held for sale in our consolidated balance sheet as of December 31, 2014.
	Real Estate Asset Acquisition
	Lakewood Flats
	On October 10, 2014, through a wholly-owned subsidiary of our operating partnership, we acquired a 435-unit multifamily community located in Dallas, Texas (“Lakewood Flats”), from an unaffiliated third party. The purchase price for Lakewood Flats, excluding closing costs, was $60.5 million, of which $27 million was paid in cash and the remaining $33.5 million was provided by a mortgage loan with the Prudential Insurance Company of America. We funded the cash portion of the purchase price with proceeds from asset sales. The loan bears interest at a variable annual rate of 30-day LIBOR plus 1.5% and requires monthly payments of interest only during its term, with the unpaid principal and interest due on the maturity date of November 5, 2019. The loan may be prepaid in its entirety at any time, subject to a prepayment penalty if prepaid before December 5, 2016.
	The following table summarizes the amounts of identified assets acquired and liabilities assumed at the acquisition date:
		Total
		Acquisition
	Buildings and improvements	$	49,703
	Land and land improvements	8,196
	Lease intangibles, net	1,529
	Furniture, fixtures and equipment	1,072
	Total identifiable net assets	$	60,500
	The following table summarizes the amounts recognized for revenues, acquisition expenses and net loss from the acquisition date to December 31, 2014 (in millions):
			Lakewood Flats
	Revenue		$	1,385
	Acquisition expenses with unaffiliated third party		185
	Net loss		(474		)
	The following unaudited pro forma summary presents our consolidated information for the acquisition as if the business combination had occurred on January 1, 2013 (in thousands, except per share):
			Pro Forma for the Twelve Months Ended December 31, (Unaudited)
			2014			2013
	Revenue		$	52,840		$	47,665
	Depreciation and amortization		16,334			17,813
	Net income (loss)		(263		)	5,605
	Net income (loss) per share		$	(0.01	)	$	0.22
	These unaudited pro forma amounts have been calculated after applying our accounting policies and adjusting the results to reflect additional depreciation and amortization that would have been charged assuming the fair value adjustments to the tangible and intangible assets had been applied from January 1, 2013.
	We are in the process of finalizing our acquisition allocation for Lakewood Flats, which is subject to change until the information is finalized, which will be no later than twelve months from the acquisition date.
	Real Estate Asset Disposition
	1875 Lawrence
	On May 30, 2014, we sold 1875 Lawrence for a contract sales price of approximately $46.7 million. We recorded a gain on sale of real estate property of $11.5 million and loss on early extinguishment of debt of $0.5 million, which was comprised of the write-off of deferred financing fees of $0.4 million and an early termination fee of $0.1 million. A portion of the proceeds from the sale were used to pay off in full the existing indebtedness of approximately $15.6 million associated with the office building. The disposal of the 1875 Lawrence property does not represent a strategic shift; therefore, it is presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012.
	Sale 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):
	Date of Sale		Property		Ownership Interest	Sales Contract Price				Net Cash Proceeds			Gain on Sale of Real Estate
	30-May-14		1875 Lawrence		100%	$	46.7			$	46.3		$	11.5
	The following table presents net income (loss) attributable to the Company for the three years ended December 31, 2014, 2013 and 2012 related to the 1875 Lawrence office building sold in 2014. Net income for the year ended December 31, 2014 includes the gain on sale of real estate (in millions):
			Years Ended December 31,
			2014			2013				2012
	Net income (loss) attributable to the Company		$	9.9		$	(2.1	)		$	(1.5	)
	Discontinued Operations
	As discussed in Note 3, New Accounting Pronouncements, we 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. See Note 16, Discontinued Operations, for additional disclosures regarding discontinued operations for the years ended December 31, 2013 and 2012.
	Real Estate Held for Sale
	As of December 31, 2014, Babcock and AJS were classified as real estate held for sale on our consolidated balance sheet. We did not have any real estate assets classified as held for sale as of December 31, 2013 and 2012.
	In 2011, we acquired Babcock, a 537-unit storage facility located in San Antonio, Texas. Due to increased demand in the industry, we began to market the property during the last half of 2014. We entered into a PSA on October 29, 2014 and sold the property to an unaffiliated third party on January 8, 2015 for a contract sales price of $5.4 million.
	In 2012, we acquired AJS, an office building located in Berlin, Germany, with short-term leases and below-market rents, with the investment objective of increasing net operating income through longer lease terms and increased rents. When the property became stabilized during 2014, we started the marketing process and received bids that met the Company's return objectives. We entered into a PSA with an unaffiliated third party on December 18, 2014 and sold the property on February 21, 2015 for a contract sales price of approximately €12.4 million or approximately $14.1 million based on the exchange rate in effect on February 21, 2015.
	The sales of Babcock and AJS in the first quarter of 2015 did not represent a strategic shift and did not have a major effect on the Company’s operations and financial results, therefore the results of operations for both investments are presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012.
	The major classes of assets and liabilities associated with our real estate held for sale as of December 31, 2014 were as follows:
Description		Amount
Land and improvements, net		$	3,195
Building and improvements, net		9,581
Lease intangibles, net		175
Assets associated with real estate held for sale		$	12,951
Notes payable		$	9,122
Other		90
Obligations associated with real estate held for sale		$	9,212

Real_Estate_Held_for_Sale

Real Estate Held for Sale	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Real Estate Held for Sale	Real Estate and Real Estate-Related Investments
	As of December 31, 2014, we consolidated 12 real estate assets, including Babcock and AJS which are classified as real estate held for sale in our consolidated balance sheet. The following table presents certain information about our consolidated investments as of December 31, 2014:
	Property Name		Description		Location	Date Acquired		Ownership
								Interest
	Holstenplatz		Office building		Hamburg, Germany	June 30, 2010		100	%
	Gardens Medical Pavilion(1)		Medical office building		Palm Beach Gardens, Florida	October 20, 2010(1)		79.8	%	-1
	Courtyard Kauai Coconut Beach Hotel		Hotel		Kauai, Hawaii	October 20, 2010		80	%
	River Club and the		Student housing		Athens, Georgia	April 25, 2011		85	%
	Townhomes at River Club
	Babcock Self Storage(2)		Self-storage		San Antonio, Texas	August 30, 2011		85	%
	Lakes of Margate		Multifamily		Margate, Florida	October 19, 2011		92.5	%
	Arbors Harbor Town		Multifamily		Memphis, Tennessee	December 20, 2011		94	%
	Alte Jakobstraße(2)		Office building		Berlin, Germany	April 5, 2012		99.7	%
	Wimberly at Deerwood ("Wimberly")		Multifamily		Jacksonville, Florida	19-Feb-13		95	%
	22 Exchange		Student housing		Akron, Ohio	16-Apr-13		90	%
	Parkside Apartments ("Parkside")		Multifamily		Sugarland, Texas	8-Aug-13		90	%
	Lakewood Flats		Multifamily		Dallas, Texas	10-Oct-14		100	%
	____________________________
	-1	We acquired a portfolio of eight medical office buildings, known as the Original Florida MOB Portfolio, on October 8, 2010.  We acquired a medical office building known as Gardens Medical Pavilion on October 20, 2010.  Collectively, the Original Florida MOB Portfolio and Gardens Medical Pavilion were referred to as the Florida MOB Portfolio.  The Florida MOB Portfolio consisted of nine medical office buildings.  On September 20, 2013, we sold the Original Florida MOB Portfolio. As of December 31, 2014, we own approximately 79.8% of the ninth building, Gardens Medical Pavilion.
	-2	We sold our Babcock and AJS properties on January 8, 2015 and February 21, 2015, respectively. Both properties are classified as held for sale in our consolidated balance sheet as of December 31, 2014.
	Real Estate Asset Acquisition
	Lakewood Flats
	On October 10, 2014, through a wholly-owned subsidiary of our operating partnership, we acquired a 435-unit multifamily community located in Dallas, Texas (“Lakewood Flats”), from an unaffiliated third party. The purchase price for Lakewood Flats, excluding closing costs, was $60.5 million, of which $27 million was paid in cash and the remaining $33.5 million was provided by a mortgage loan with the Prudential Insurance Company of America. We funded the cash portion of the purchase price with proceeds from asset sales. The loan bears interest at a variable annual rate of 30-day LIBOR plus 1.5% and requires monthly payments of interest only during its term, with the unpaid principal and interest due on the maturity date of November 5, 2019. The loan may be prepaid in its entirety at any time, subject to a prepayment penalty if prepaid before December 5, 2016.
	The following table summarizes the amounts of identified assets acquired and liabilities assumed at the acquisition date:
		Total
		Acquisition
	Buildings and improvements	$	49,703
	Land and land improvements	8,196
	Lease intangibles, net	1,529
	Furniture, fixtures and equipment	1,072
	Total identifiable net assets	$	60,500
	The following table summarizes the amounts recognized for revenues, acquisition expenses and net loss from the acquisition date to December 31, 2014 (in millions):
			Lakewood Flats
	Revenue		$	1,385
	Acquisition expenses with unaffiliated third party		185
	Net loss		(474		)
	The following unaudited pro forma summary presents our consolidated information for the acquisition as if the business combination had occurred on January 1, 2013 (in thousands, except per share):
			Pro Forma for the Twelve Months Ended December 31, (Unaudited)
			2014			2013
	Revenue		$	52,840		$	47,665
	Depreciation and amortization		16,334			17,813
	Net income (loss)		(263		)	5,605
	Net income (loss) per share		$	(0.01	)	$	0.22
	These unaudited pro forma amounts have been calculated after applying our accounting policies and adjusting the results to reflect additional depreciation and amortization that would have been charged assuming the fair value adjustments to the tangible and intangible assets had been applied from January 1, 2013.
	We are in the process of finalizing our acquisition allocation for Lakewood Flats, which is subject to change until the information is finalized, which will be no later than twelve months from the acquisition date.
	Real Estate Asset Disposition
	1875 Lawrence
	On May 30, 2014, we sold 1875 Lawrence for a contract sales price of approximately $46.7 million. We recorded a gain on sale of real estate property of $11.5 million and loss on early extinguishment of debt of $0.5 million, which was comprised of the write-off of deferred financing fees of $0.4 million and an early termination fee of $0.1 million. A portion of the proceeds from the sale were used to pay off in full the existing indebtedness of approximately $15.6 million associated with the office building. The disposal of the 1875 Lawrence property does not represent a strategic shift; therefore, it is presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012.
	Sale 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):
	Date of Sale		Property		Ownership Interest	Sales Contract Price				Net Cash Proceeds			Gain on Sale of Real Estate
	30-May-14		1875 Lawrence		100%	$	46.7			$	46.3		$	11.5
	The following table presents net income (loss) attributable to the Company for the three years ended December 31, 2014, 2013 and 2012 related to the 1875 Lawrence office building sold in 2014. Net income for the year ended December 31, 2014 includes the gain on sale of real estate (in millions):
			Years Ended December 31,
			2014			2013				2012
	Net income (loss) attributable to the Company		$	9.9		$	(2.1	)		$	(1.5	)
	Discontinued Operations
	As discussed in Note 3, New Accounting Pronouncements, we 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. See Note 16, Discontinued Operations, for additional disclosures regarding discontinued operations for the years ended December 31, 2013 and 2012.
	Real Estate Held for Sale
	As of December 31, 2014, Babcock and AJS were classified as real estate held for sale on our consolidated balance sheet. We did not have any real estate assets classified as held for sale as of December 31, 2013 and 2012.
	In 2011, we acquired Babcock, a 537-unit storage facility located in San Antonio, Texas. Due to increased demand in the industry, we began to market the property during the last half of 2014. We entered into a PSA on October 29, 2014 and sold the property to an unaffiliated third party on January 8, 2015 for a contract sales price of $5.4 million.
	In 2012, we acquired AJS, an office building located in Berlin, Germany, with short-term leases and below-market rents, with the investment objective of increasing net operating income through longer lease terms and increased rents. When the property became stabilized during 2014, we started the marketing process and received bids that met the Company's return objectives. We entered into a PSA with an unaffiliated third party on December 18, 2014 and sold the property on February 21, 2015 for a contract sales price of approximately €12.4 million or approximately $14.1 million based on the exchange rate in effect on February 21, 2015.
	The sales of Babcock and AJS in the first quarter of 2015 did not represent a strategic shift and did not have a major effect on the Company’s operations and financial results, therefore the results of operations for both investments are presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012.
	The major classes of assets and liabilities associated with our real estate held for sale as of December 31, 2014 were as follows:
Description		Amount
Land and improvements, net		$	3,195
Building and improvements, net		9,581
Lease intangibles, net		175
Assets associated with real estate held for sale		$	12,951
Notes payable		$	9,122
Other		90
Obligations associated with real estate held for sale		$	9,212

Investment_in_Unconsolidated_J

Investment in Unconsolidated Joint Venture	12 Months Ended
	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture
	On May 24, 2013, we (the "Lender") provided mezzanine financing totaling $13.7 million, (the "Initial Advance") to an unaffiliated third-party entity (the "Borrower") that owns an apartment complex under development in Denver, Colorado (“Prospect Park”). The Borrower also has a senior construction loan with a third-party construction lender (the "Senior Lender"), in an aggregate original principal amount of $35.6 million. The senior construction loan is guaranteed by the owners of the developer.  We also have a personal guaranty from the owners of the developer guaranteeing completion of the project and payment of cost overruns. Our mezzanine loan is secured by all of the membership interests of the Borrower and is subordinate to the senior construction loan. Our Initial Advance has an annual stated interest rate of 10% for the first three years of the term, followed by two one-year extension options at which point the annual interest rate would increase to 14%.  We evaluated this ADC Arrangement and determined that the characteristics are similar to a jointly-owned investment or partnership. Accordingly, the investment was accounted for as an unconsolidated joint venture under the equity method of accounting instead of loan accounting since we will participate in the residual interests through the sale or refinancing of the property.
	Due to projected cost overruns in excess of the original construction budget, an event of default was declared by the Senior Lender on April 28, 2014. In accordance with our rights under the mezzanine loan agreement, we also declared an event of default on May 5, 2014. In order to remedy the events of default, the following terms were agreed upon, based on negotiations between the Borrower and developer, the Senior Lender, and us: (i) the Borrower and developer covered cost overruns totaling $6.6 million; (ii) we increased our financing to $15.3 million, an increase of $1.5 million (the “Additional Advance”); and (iii) the Senior Lender increased their loan to $40 million, an increase of $4.4 million. The terms of our Initial Advance remained the same under the amended loan agreement. The terms of the Additional Advance are the same as the Initial Advance except that the interest rate on the Additional Advance is 18%.
	We considered the impact of these events on the accounting treatment and determined the ADC Arrangement will continue to be accounted for as an unconsolidated joint venture under the equity method of accounting. We will continue to monitor this situation and any impact these events might have on our ability to ultimately realize our investment. The ADC Arrangement is reassessed at each reporting period.
	As of December 31, 2014, the outstanding principal balance under our mezzanine loan was $15.3 million.  In connection with this investment, we capitalized acquisition-related costs and fees totaling $0.4 million during the year ended December 31, 2013.  Interest capitalized for the years ended December 31, 2014 and 2013 was $0.5 million and $0.3 million, respectively.  For the years ended December 31, 2014 and 2013, we recorded no equity in earnings (losses) of unconsolidated joint venture related to our investment in Prospect Park.
	The following table sets forth our ownership interest in Prospect Park:
	Property Name	Ownership Interest at December 31, 2014	Carrying Amount at December 31, 2014(1)
	Prospect Park	N/A	$13,973
	______________________________
	(1)  For the year ended December 31, 2013, approximately $2 million of the $2.4 million of distributions was an interest reserve funded at closing (classified as restricted cash on the consolidated balance sheet at December 31, 2013). The interest reserve was fully utilized in 2014.

Notes_Payable

Notes Payable	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Notes Payable	Notes Payable
	The following table sets forth information on our notes payable as of December 31, 2014 and 2013:
	Description	2014			2013			Interest		Maturity
								Rate		Date
	1875 Lawrence(1)	$	—		$	15,621		30-day LIBOR + 5.35%	(2)	1/1/16
	Holstenplatz	9,125			10,581			3.89%		4/30/15
	Courtyard Kauai Coconut Beach Hotel	38,000			38,000			30-day LIBOR + .95%	(2)	11/9/15
	Florida MOB Portfolio—Gardens Medical Pavilion	13,678			14,040			4.90%		1/1/18
	River Club and the Townhomes at River Club	24,664			25,010			5.26%		5/1/18
	Babcock Self Storage	n/a		(3)	2,182			5.80%		8/30/18
	Lakes of Margate	14,723			14,966			5.49% and 5.92%		1/1/20
	Arbors Harbor Town	25,591			26,000			3.98%		1/1/19
	Alte Jakobstraße	n/a		(3)	8,275			2.30%		12/30/15
	Wimberly	26,685			26,685			30-day LIBOR + 2.28%	(2)	3/1/23
	22 Exchange	19,500			19,500			3.93%		5/5/23
	Parkside(4)	10,828			11,177			5%		6/1/18
	Lakewood Flats	33,500			—			30-day LIBOR + 1.5%	(2)	11/5/19
		$	216,294		$	212,037
	Notes Payable included with Obligations related to real estate held for sale:
	Babcock Self Storage	$	2,137	(3)	n/a		(3)	5.80%		8/30/18
	Alte Jakobstraße	6,985		(3)	n/a		(3)	2.30%		12/30/15
		$	9,122
	Total notes payable obligations	$	225,416
	_____________________________
	(1) On May 30, 2014, we sold the 1875 Lawrence office building to an unaffiliated third party.  A portion of the proceeds from the sale were used to pay off in full the existing indebtedness associated with the property.
	(2) 30-day London Interbank Offer Rate ("LIBOR") was 0.16% at December 31, 2014.
	-3	As of December 31, 2014, Babcock and AJS were classified as real estate held for sale on our consolidated balance sheet. The properties were sold in the first quarter of 2015 and a portion of the sales proceeds for each property were used to pay off the existing indebtedness in full.
	(4) Includes approximately $0.6 million of unamortized premium related to debt we assumed at acquisition.
	At December 31, 2014, our notes payable balance was $216.3 million, excluding $9.1 million of contractual obligations on real estate held for sale. We have guaranteed payment of certain recourse liabilities with respect to certain customary nonrecourse carveouts as set forth in the guaranties in favor of the unaffiliated lenders with respect to the Courtyard Kauai Coconut Beach Hotel, Wimberly, 22 Exchange and Parkside notes payable. For the year ended December 31, 2014, in connection with the acquisition of Lakewood Flats, we entered into a loan with an unaffiliated third party for $33.5 million. See Note 6, Real Estate and Real Estate-Related Investments, for terms of the note payable related to the acquisition.
	On May 30, 2014, we sold 1875 Lawrence to an unaffiliated third party and used a portion of the proceeds from the sale to pay off in full the existing indebtedness of approximately $15.6 million. Interest capitalized for the years ended December 31, 2014, 2013 and 2012 was $0.5 million, $0.3 million and $0.1 million, respectively.
	We are subject to customary affirmative, negative, and financial covenants and representations, warranties and borrowing conditions, all as set forth in our loan agreements, including, among other things, maintaining minimum debt service coverage ratios, loan to value ratios and liquidity. As of December 31, 2014, we believe we were in compliance with the covenants under our loan agreements.
	Our debt secured by Courtyard Kauai Coconut Beach Hotel, with a balance of $38 million at December 31, 2014, matures on November 9, 2015. The loan has an 18-month renewal option to extend the term to May 9, 2017. Our debt secured by Holstenplatz and Alte Jakobstraße, with balances of $9.1 million and $7 million at December 31, 2014, respectively, also mature in 2015. We currently expect to pay-off or refinance the loan secured by Holstenplatz by the maturity date of April 30, 2015. We sold the AJS property to an unaffiliated third party on February 21, 2015 and used a portion of the sales proceeds to pay off the existing indebtedness in full. See Note 7, Real Estate Held for Sale.
	The following table summarizes our contractual obligations for principal payments as of December 31, 2014:
	Year	Amount Due(1)
	2015	$	49,195
	2016	2,448
	2017	2,671
	2018	47,400
	2019	58,346
	Thereafter	55,660
	Total contractual obligations for principal payments	$	215,720
	Unamortized premium	574
	Total notes payable	$	216,294
	____________________________________________
	-1	Our debt secured by AJS and Babcock, with balances at December 31, 2014 of $7 million and $2.1 million, respectively, are not included in the table as the investments were classified as held for sale at December 31, 2014 and they were sold on January 8, 2015 and February 21, 2015, respectively. The debt associated with each of the properties was paid in full with proceeds from the disposal of the investments.

Leasing_Activity

Leasing Activity	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Leasing Activity	Leasing Activity
	Future minimum base rental payments of our office properties due to us under non-cancelable leases in effect as of December 31, 2014 are as follows:
	Year	Amount Due
	2015	$	2,603
	2016	2,449
	2017	1,969
	2018	1,575
	2019	1,126
	Thereafter	4,651
	Total	$	14,373
	The schedule above does not include rental payments due to us from our multifamily, hotel, student housing, and self-storage properties, as leases associated with these properties typically are for periods of one year or less. We have excluded AJS, our office building located in Germany, from the schedule above as it was classified as held for sale at December 31, 2014 and sold on February 21, 2015.

Derivative_Instruments_and_Hed

Derivative Instruments and Hedging Activities	12 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Derivative Instruments and Hedging Activities	Derivative Instruments and Hedging Activities
	We may be exposed to the risk associated with variability of interest rates that might impact our cash flows and the results of operations. The hedging strategy of entering into interest rate caps and swaps, therefore, is to eliminate or reduce, to the extent possible, the volatility of cash flows. As of December 31, 2014, none of our derivative instruments were designated as hedging instruments. We have two interest rate caps as of December 31, 2014.
	Derivative instruments classified as assets were reported at their combined fair values of less than $0.1 million and $0.2 million in prepaid expenses and other assets at December 31, 2014 and 2013, respectively. During the years ended December 31, 2014 and 2013, we recorded reclassifications of unrealized loss to interest expense of less than $0.1 million and $0.1 million, respectively, to adjust the carrying amount of the interest rate caps. The reclassification out of OCI in our statement of equity for the years ended December 31, 2014 and 2013 was due to all derivatives being designated as non-hedging instruments as of January 1, 2013 compared to being designated as hedging instruments as of December 31, 2012.
	The following table summarizes the notional values of our derivative financial instruments. The notional values provide an indication of the extent of our involvement in these instruments, but do not represent exposure to credit, interest rate, or market risks:
	Type / Description		Notional Value				Interest Rate /	Index		Maturity
							Strike Rate
	(not designated as hedging instruments)
	Interest rate cap - Courtyard Kauai Coconut Beach Hotel		$	38,000			3.00%	30-day LIBOR		October 15, 2016
	Interest rate cap - Wimberly		26,685				4.56%	30-day LIBOR		March 1, 2018
	We renewed the interest rate cap for Courtyard Kauai Coconut Beach Hotel effective October 15, 2014 for a notional amount of $38 million and a maturity date of October 15, 2016. The cap rate will be 3% for the first year ending October 15, 2015 and 5% in the second year ending October 15, 2016.
	The table below presents the fair value of our derivative financial instruments, as well as their classification on the consolidated balance sheets as of December 31, 2014 and 2013, respectively:
			Balance Sheet		Asset Derivatives
	Derivatives not designated as hedging instruments:		Location		2014			2013
	Interest rate derivative contracts		Prepaid expenses and other assets		$	28		$	174
	The table below presents the effect of our derivative financial instruments on the consolidated statements of operations for the years ended December 31, 2014 and 2013:
	Derivatives Not Designated as Hedging Instruments
	Amount of Loss
	Year ended December 31,
	2014	2013
	$215	$94

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2014
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	Commitments and Contingencies
	Income Taxes
	We have maintained and intend to maintain our election as a REIT under the Code. In order for us to continue to qualify as a REIT we must meet a number of organizational and operational requirements, including a requirement to distribute annual dividends to our shareholders equal to a minimum of 90% of our REIT taxable income, computed without regard to the dividends paid deduction and our net capital gains. As a REIT, we generally will not be subject to federal income tax on our taxable income at the corporate level to the extent such income is distributed to our shareholders annually. Any current year taxable income generated by the Company may be offset by carrying forward unused prior year net operating losses ("NOLs"). If our taxable income after application of NOL carryforwards exceeds our dividends in a tax year, REIT tax rules allow us to designate dividends from the subsequent tax year in order to avoid current taxation on undistributed income. If we fail to qualify as a REIT in any taxable year, we will be subject to federal and state income taxes at regular corporate rates, including any applicable alternative minimum tax ("AMT"). In addition, we may not be able to requalify as a REIT for the four subsequent taxable years. Taxable income from non-REIT activities managed through taxable REIT subsidiaries is subject to applicable federal, state, and local income and margin taxes. Our operating partnerships are flow-through entities and are not subject to federal income taxes at the entity level.
	For the year ended December 31, 2014, we had federal taxable income of $5.5 million as a result of the disposal of 1875 Lawrence. The Company made special cash distributions of $13 million during the year and had remaining federal NOL carryovers of $13.1 million at December 31, 2014. The Company has continued to establish a valuation allowance against its deferred tax assets as the utilization of any deferred tax asset is not at a level of more likely than not that they will be realized prior to their expiration. The Company recorded an income tax benefit of $0.1 million during the year ended December 31, 2014 related to the overpayment of AMT tax for the year ended December 31, 2013. We recorded estimated AMT tax of $0.2 million for the year ended December 31, 2013 as a result of gains recognized on the sale of investments during the year.  The Company recorded no provision for income tax, including AMT, during the year ended December 31, 2014.
	We have a TRS which is subject to federal and state income taxes. At December 31, 2014, our TRS had NOL carryforwards of approximately $4.5 million which expire in years 2030 to 2034. Because NOL’s are subject to certain change of ownership, continuity of business, and separate return year limitations, and because it is unlikely the available NOL’s will be utilized or because we consider any amounts possibly utilized to be immaterial, no benefits related to these NOL’s have been recognized in our consolidated financial statements. We have no significant temporary differences or tax credits associated with our TRS.
	Taxable income differs from net income for financial reporting purposes principally because of differences in the timing of recognition of depreciation, rental revenue, compensation expense, impairment losses and gain from sales of property. As a result of these differences, the tax basis of our fixed assets exceeds the book value by $17.2 million at December 31, 2014.
	We and our subsidiaries’ income tax returns are subject to examination by federal, state and local tax jurisdictions for years 2011 through 2014. If a return filed was examined and a substantial error was discovered, the Internal Revenue Service has the right to add additional years to their audit, but will not go back more than six years. Net income tax loss carry forwards and other tax attributes generated in years prior to 2011 are also subject to challenge in any examination of those tax years. The Company and its subsidiaries are not under any notice of audit from any taxing authority at year end 2014. We have reviewed our tax positions under GAAP guidance that clarifies the relevant criteria and approach for the recognition and measurement of uncertain tax positions. The guidance prescribes a recognition threshold and measurement attribute for the financial statement recognition of a tax position taken, or expected to be taken, in a tax return. A tax position may only be recognized in the financial statements if it is more likely than not that the tax position will be sustained upon examination. We believe it is more likely than not that the tax positions taken relative to our status as a REIT will be sustained in any tax examination.
	Operating Leases
	On September 20, 2013, we sold the Original Florida MOB Portfolio. Prior to the sale, our operating leases consisted of ground leases on each of the original eight buildings acquired in connection with the purchase of the Original Florida MOB Portfolio. Each ground lease was for a term of 50 years, with a 25-year extension option. The annual payment for each ground lease increased by 10% every 5 years. As of and for the year ended December 31, 2014, we do not have operating leases. For the years ended December 31, 2013 and 2012, we incurred $0.2 million, and $0.3 million, respectively, in lease expense related to our ground leases which is included in discontinued operations.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2014
Stockholders' Equity Note [Abstract]
Stockholders' Equity	Stockholders' Equity
	Capitalization
	As of December 31, 2014, our authorized capital was 350,000,000 shares of common stock, 50,000,000 shares of preferred stock and 1,000 shares of convertible stock. All shares of such stock have a par value of $.0001 per share.
	As of December 31, 2014, we had issued 26.7 million shares of our common stock, including 22,471 shares owned by the Advisor and 2.2 million shares issued through the DRP. As of December 31, 2014, we had redeemed 0.9 million shares of our common stock and had 25.8 million shares of common stock outstanding. As of December 31, 2014, we had 1,000 shares of convertible stock held by an affiliate of Behringer.
	The shares of convertible stock will be converted into shares of common stock automatically if (1) we have made total distributions on then outstanding shares of our common stock equal to the issue price of those shares plus a 10% cumulative, non-compounded, annual return on the issue price of those outstanding shares, or (2) we list our common stock for trading on a national securities exchange if the sum of the prior distributions on then outstanding shares of the common stock plus the aggregate market value of the common stock (based on the 30-day average closing price) meets the same 10% performance threshold. In general, the convertible stock will convert into shares of common stock with a value equal to the lesser of (A) 20% of the excess of our enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of our common stock over the aggregate issue price of those outstanding shares plus a 10% cumulative, non-compounded, annual return on the issue price of those outstanding shares, or (B) 15% of the excess of our enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of the common stock over the aggregate issue price of those outstanding shares plus a 6% cumulative, non-compounded, annual return on the issue price of those outstanding shares. At the date of issuance of the shares of convertible stock, management determined the fair value under GAAP was less than the nominal value paid for the shares; therefore, the difference is not material.
	The timing of the conversion of any or all of the convertible stock may be deferred by our board of directors if it determines that full conversion may jeopardize our qualification as a REIT. Any such deferral will in no event otherwise alter the terms of the convertible stock, and such stock shall be converted at the earliest date after our board of directors determines that such conversion will not jeopardize our qualification as a REIT. Our board of directors is authorized to amend our charter, without the approval of the stockholders, to increase the aggregate number of authorized shares of capital stock or the number of shares of any class or series that we have authority to issue.
	Share Redemption Program
	Our board of directors has adopted a share redemption program that permits stockholders to sell their shares back to us, subject to the significant conditions and limitations of the program.  Our board of directors can amend the provisions of our share redemption program at any time without the approval of our stockholders.
	The terms on which we redeem shares may differ between redemptions upon a stockholder's death, "qualifying disability" (as defined in the share redemption program) or confinement to a long-term care facility (collectively, "Exceptional Redemptions") and all other redemptions ("Ordinary Redemptions"). From April 1, 2012 through May 15, 2014, our board of directors suspended accepting Ordinary Redemptions. On May 15, 2014, our board of directors adopted the Third Amended and Restated Share Redemption Program and reopened the share redemption program for Ordinary Redemptions, to be effective on that date. In addition, for periods beginning on or after May 15, 2014, the cash available for redemptions was increased from $1 million to no more than $10 million in any twelve-month period. The redemption limitations apply to all redemptions, whether Ordinary or Exceptional Redemptions.
	Effective November 21, 2014, the per share redemption price for Ordinary Redemptions and Exceptional Redemptions will equal the lesser of 80% and 90%, respectively, of (i) $9.72 (the most recent estimated per share value) and (ii) the average price per share the investor paid for all of his shares (as adjusted for any stock dividends, combinations, splits, recapitalizations and the like with respect to our common stock) less the Special Distributions (as defined in the share redemption program).
	Notwithstanding the redemption prices set forth above, our board of directors may determine, whether pursuant to formulas or processes approved or set by our board of directors, the redemption price of the shares, which may differ between Ordinary Redemptions and Exceptional Redemptions; provided, however, that we must provide at least 30 days’ notice to stockholders before applying this new price determined by our board of directors.
	Any shares approved for redemption will be redeemed on a periodic basis as determined from time to time by our board of directors, and no less frequently than annually.  We will not redeem, during any twelve-month period, more than 5% of the weighted average number of shares outstanding during the twelve-month period immediately prior to the date of redemption.  In addition, the cash available for redemptions is limited to no more than $10 million in any twelve-month period.  The redemption limitations apply to all redemptions, whether Ordinary or Exceptional Redemptions.
	Any Ordinary Redemption requests submitted while Ordinary Redemptions were suspended were returned to investors and must be resubmitted. We gave all stockholders notice that we were resuming Ordinary Redemptions, so that all stockholders would have an equal opportunity to submit shares for redemption. Any redemption requests are honored pro rata among all requests received based on funds available and are not honored on a first come, first served basis.
	Distributions
	Distributions are authorized at the discretion of our board of directors based on its analysis of our performance over the previous periods and expectations of performance for future periods.  These analyses may include actual and anticipated operating cash flow, changes in market capitalization rates for investments suitable for our portfolio, capital expenditure needs, general financial and market conditions, proceeds from asset sales and other factors that our board deems relevant.  The board’s decision will be substantially influenced by its obligation to ensure that we maintain our federal tax status as a REIT.  We cannot provide assurance that we will pay distributions at any particular level, or at all.
	On August 8, 2014, our board of directors authorized a special cash distribution of $0.50 per share of common stock payable to our stockholders of record as of September 15, 2014. We did not pay any distributions during the year ended December 31, 2013. Beginning June 2009 through March 2012, the declared daily distribution rate was $0.0013699 per share of common stock, which is equivalent to an annualized distribution rate of 5.0% assuming the share was purchased for $10.00. On March 20, 2012, our board of directors declared a special cash distribution of $0.50 per share of common stock payable to our stockholders of record as of April 3, 2012 and determined to cease regular, monthly distributions.
	We have paid and may in the future pay some or all of our distributions from sources other than operating cash flow.  We have, for example, generated cash to pay distributions from sales activities and financing activities, components of which included proceeds from the Offerings and borrowings (including borrowings secured by our assets) in anticipation of future operating cash flow.  We have also utilized cash from refinancing and dispositions, the components of which may represent a return of capital and/or the gains on sale.  In addition, from time to time, our Advisor may agree to waive or defer all or a portion of the acquisition, asset management or other fees or incentives due to it, pay general administrative expenses or otherwise supplement investor returns which may increase the amount of cash that we have available to pay distributions to our stockholders.
	Total distributions paid to stockholders during the year ended December 31, 2014 were $13 million and represented a special cash distribution which was fully funded with proceeds from asset sales. The special cash distribution was paid to stockholders on September 18, 2014. Future distributions declared and paid are expected to be funded with proceeds from asset sales; however, future distributions may exceed cash flow from operating activities or funds from operations until such time as our investments reach stabilization.

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2014
Related Party Transactions [Abstract]
Related Party Transactions	Related Party Transactions
	Advisor
	The Advisor and certain of its affiliates may receive fees and compensation in connection with the acquisition, management, and sale of our assets based on the advisory management agreement, as amended and restated.
	Fourth Amended and Restated Advisory Management Agreement
	From July 5, 2011 through December 31, 2014, the Third Amended and Restated Advisory Management Agreement (the “Third Advisory Agreement”) governed the relationship between us and our Advisor. On June 20, 2014, we entered into the Fourth Amended and Restated Advisory Management Agreement (the “Fourth Advisory Agreement”) with our Advisor to, among other things, revise the acquisition and advisory fees, asset management fee, and the debt financing fee that may be paid to the Advisor and to fix certain expense reimbursement provisions. The Fourth Advisory Agreement was effective as of January 1, 2014. The following discussion reflects the terms of these agreements and the fees and expenses paid or reimbursed to the Advisor thereunder since January 1, 2013.
	We reimbursed the Advisor and its affiliates for organization and offering expenses (other than selling commissions and the dealer manager fee) incurred on our behalf in connection with the primary offering component of the Offerings. The total we were required to remit to the Advisor for organization and offering expenses (other than selling commissions and the dealer manager fee) was limited to 1.5% of the gross proceeds raised in the completed primary offering components of the Offerings as determined upon completion of the Offerings. The Advisor or its affiliates determined the amount of organization and offering expenses owed based on specific invoice identification, as well as an allocation of costs to us and other Behringer programs, based on respective equity offering results of those entities in offering.
	The Advisor was required to reimburse us to the extent that the total amount spent on organization and offering expenses (other than selling commissions and the dealer manager fee) in the Offerings exceeded 1.5% of the gross proceeds raised in the primary component of the Offerings. Based on the gross proceeds from our Offerings which ended in April 2012, we recorded a receivable from the Advisor for approximately $3.8 million of organization and offering expenses that were previously reimbursed to the Advisor. The receivable of $3.8 million was presented net of other payables of $0.5 million to the Advisor on our consolidated balance sheet as of December 31, 2012. We received payment of $3.8 million from the Advisor for this receivable in March 2013.
	The Advisor or its affiliates receive acquisition and advisory fees of 1.5% of the amount paid in respect of the purchase, development, construction, or improvement of each asset we acquire, including any debt attributable to those assets. In addition, the Advisor and its affiliates will also receive acquisition and advisory fees of 1.5% of the funds advanced in respect of a loan investment. Before January 1, 2014, this rate was 2.5%. We incurred acquisition and advisory fees payable to the Advisor of $1 million, $2.3 million and $0.5 million for the years ended December 31, 2014, 2013 and 2012, respectively. We had one acquisition in each of the years ended December 31, 2014 and 2012. During the year ended December 31, 2013, we made four separate real estate acquisitions, one of which was a loan investment.
	The Advisor or its affiliates also receive an acquisition expense reimbursement in the amount of (i) 0.25% of the funds paid for purchasing an asset, including any debt attributable to the asset, plus 0.25% of the funds budgeted for development, construction, or improvement in the case of assets that we acquire and intend to develop, construct, or improve or (ii) 0.25% of the funds advanced in respect of a loan investment. We also pay third parties, or reimburse the Advisor or its affiliates, for any investment-related expenses due to third parties in the case of a completed investment, including, but not limited to, legal fees and expenses, travel and communication expenses, costs of appraisals, accounting fees and expenses, third-party brokerage or finder's fees, title insurance, premium expenses, and other closing costs.
	In addition, acquisition expenses for which we will reimburse the Advisor, include any payments approved in advance by our board of directors made to (i) a prospective seller of an asset, (ii) an agent of a prospective seller of an asset, or (iii) a party that has the right to control the sale of an asset intended for investment by us that are not refundable and that are not ultimately applied against the purchase price for such asset. Previously, to the extent the Advisor or its affiliates directly provided services, formerly provided or usually provided by third parties, including, without limitation, accounting services related to the preparation of audits required by the Securities and Exchange Commission, property condition reports, title services, title insurance, insurance brokerage or environmental services related to the preparation of environmental assessments in connection with a completed investment, the direct employee costs and burden to the Advisor of providing these services was included as acquisition expenses for which we reimbursed the Advisor. Pursuant to the Fourth Advisory Agreement, effective January 1, 2014, such services will no longer be included as acquisition expenses for which the Company will reimburse the Advisor.
	In addition, the Advisor is responsible for paying all of the expenses it incurs associated with persons employed by the Advisor to the extent that they are dedicated to making investments for us, such as wages and benefits of the investment personnel. The Advisor and its affiliates are also responsible for paying all of the investment-related expenses that we or the Advisor or its affiliates incur that are due to third parties or related to the additional services provided by the Advisor as described above with respect to investments we do not make, other than certain non-refundable payments made in connection with any acquisition. For the years ended December 31, 2014, 2013 and 2012, we incurred acquisition expense reimbursements of $0.2 million, $0.2 million and less than $0.1 million, respectively.
	Beginning January 1, 2014, we pay the Advisor or its affiliates a debt financing fee of 0.5% of the amount available under any loan or line of credit made available to us and will pay directly all third party costs associated with obtaining the debt financing. Before January 1, 2014, we paid the Advisor a debt financing fee of 1%. We incurred debt financing fees of $0.2 million, $0.5 million, and $0.3 million, for the years ended December 31, 2014, 2013 and 2012, respectively.
	We pay the Advisor or its affiliates a development fee in an amount that is usual and customary for comparable services rendered to similar projects in the geographic market of the project if such affiliate provides the development services and if a majority of our independent directors determines that such development fee is fair and reasonable to us. We incurred no such fees for the years ended December 31, 2014, 2013 or 2012.
	Prior to January 1, 2014, we paid the Advisor or its affiliates a monthly asset management fee of one-twelfth of 1.0% of the sum of the higher of the cost or value of each asset. Pursuant to the Fourth Advisory Agreement, we pay the Advisor or its affiliates a monthly asset management fee which, effective January 1, 2014, was reduced to one-twelfth of 0.7% of the value of each asset. The value of our assets will be the value as determined in connection with the establishment and publication of an estimated value per share unless the asset was acquired after our publication of an estimated value per share (in which case the value of the asset will be the contract purchase price of the asset). In addition, pursuant to the Fourth Advisory Agreement, the Advisor agreed to waive asset management fees previously accrued during the period from August 2013 to December 2013 of $0.3 million. Therefore, we reversed this accrual in the second quarter of 2014. For the years ended December 31, 2014, 2013 and 2012, we expensed $2.2 million, $3.4 million and $3 million, respectively, of asset management fees. Amounts include asset management fees related to our disposed properties.
	Under the Fourth Advisory Agreement, beginning January 1, 2014, instead of reimbursing the Advisor for specific expenses paid or incurred in connection with providing services to us, we will pay the Advisor an administrative services fee based on a budget of expenses prepared by the Advisor. The administrative services fee is intended to reimburse for all costs associated with providing services to us under the Fourth Advisory Agreement. The administrative services fee is $1,775,000 per calendar year, payable in four equal quarterly installments within 45 days of the end of each calendar quarter beginning with calendar year 2014. Before the effective date of the Fourth Advisory Agreement, we reimbursed the Advisor or its affiliates for all expenses paid or incurred by them in connection with the services they provided us, subject to certain limitations. For the years ended December 31, 2014, 2013 and 2012, we incurred and expensed such costs for administrative services of $1,775,000, $1,751,000 and $1,574,000, respectively.
	Notwithstanding the fees and cost reimbursements described above, under our charter we may not reimburse the Advisor for any amount by which our operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of:  (i) 2% of our average invested assets, or (ii) 25% of our net income determined without reduction for any additions to reserves for depreciation, bad debts or other similar non-cash reserves and excluding any gain from the sale of our assets for that period unless a majority of our independent directors determines that such excess expenses are justified based on unusual and non-recurring factors. For the four fiscal quarters ended September 30, 2014, our total operating expenses (including the asset management fee) were not excessive.
	Property Manager
	We pay our property manager and affiliate of the Advisor, Behringer Harvard Opportunity II Management Services, LLC (“BHO II Management”), or its affiliates, fees for the management, leasing, and construction supervision of our properties.  Before January 1, 2014, property management fees were 4.5% of the gross revenues of the properties managed by BHO II Management or its affiliates, plus leasing commissions based upon the customary leasing commission applicable to the same geographic location of the respective property.  Effective January 1, 2014, we entered into the First Amendment to the Amended and Restated Property Management and Leasing Agreement, which reduced the property management fee paid to 4.0% of gross revenues of the properties managed by BHO II Management or its affiliates. In the event that we contract directly with a third-party property manager in respect of a property, BHO II Management or its affiliates receives an oversight fee equal to 0.5% of the gross revenues of the property managed.  In no event will BHO II Management or its affiliates receive both a property management fee and an oversight fee with respect to any particular property.  In the event we own a property through a joint venture that does not pay BHO II Management directly for its services, we will pay BHO II Management a management fee or oversight fee, as applicable, based only on our economic interest in the property.  We incurred and expensed property management fees or oversight fees to BHO II Management of approximately $0.6 million, $0.9 million and $1.2 million for the years ended December 31, 2014, 2013 and 2012, respectively.
	We pay the Advisor or its affiliates a construction management fee in an amount not to exceed 5% of all hard construction costs incurred in connection with, but not limited to capital repairs and improvements, major building reconstruction and tenant improvements, if such affiliate supervises construction performed by or on behalf of us or our affiliates. We incurred construction management fees of $0.1 million for the years ended December 31, 2014 and 2013. We incurred no construction management fees for the year ended December 31, 2012.
	We are dependent on the Advisor and BHO II Management for certain services that are essential to us, including asset acquisition and disposition decisions, property management and leasing services, and other general administrative responsibilities.  In the event that these companies were unable to provide us with their respective services, we would be required to obtain such services from other sources.
	Dealer Manager
	Pursuant to a dealer manager agreement, we engaged Behringer Securities LP ("Behringer Securities"), a subsidiary of Behringer, to act as our dealer manager in connection with our Offerings. Behringer Securities received commissions of up to 7% of gross primary offering proceeds. Behringer Securities reallowed 100% of selling commissions earned to participating broker-dealers. In addition, we paid Behringer Securities a dealer manager fee of up to 2.5% of gross offering proceeds. Pursuant to separately negotiated agreements, Behringer Securities reallowed a portion of its dealer manager fee in an aggregate amount up to 2% of gross offering proceeds to broker-dealers participating in our Offerings. No selling commissions, dealer manager fees or organization and offering expenses were paid for sales under the DRP. We terminated the primary portion of the Follow-On Offering effective March 15, 2012 and the DRP portion of the Follow-On Offering effective April 3, 2012. For the year ended December 31, 2012, Behringer Securities earned selling commissions and dealer manager fees of $0.4 million and $0.2 million, respectively, which were recorded as a reduction to additional paid-in capital.

Supplemental_Cash_Flow_Informa

Supplemental Cash Flow Information	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Supplemental Cash Flow Information	Supplemental Cash Flow Information
	Supplemental cash flow information is summarized below:
		Twelve Months ended December 31,
		2014		2013		2012
	Interest paid, net of amounts capitalized	$	7,443	$	7,765	$	13,049
	Income tax paid, net of overpayment	29		—		—
	Non-cash investing activities and financing activities:
	Capital expenditures for real estate in accounts payable	—		20		17
	Capital expenditures for real estate in accrued liabilities	237		539		864
	Assumed debt on acquisition of real estate investment	—		11,306		—
	Assumed debt on disposition of real estate investment	—		17,983		—
	Common stock issued in distribution reinvestment plan	—		—		2,790
	Accrued distributions to noncontrolling interest	19		20		—

Discontinued_Operations_and_Re

Discontinued Operations and Real Estate Held for Sale	12 Months Ended
	Dec. 31, 2013
Discontinued Operations.
Discontinued Operations and Real Estate Held for Sale	Discontinued Operations
	Effective as of April 1, 2014, we adopted the revised guidance for discontinued operations as further discussed in Note 3, New Accounting Pronouncements. For sales of real estate or assets classified as held for sale after April 1, 2014, we will evaluate whether the disposal transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as discontinued operations for all periods presented; if not, it will be presented in continuing operations. Any sales of real estate prior to April 1, 2014 that were reported in discontinued operations in prior reporting periods will continue to be reported as discontinued operations.
	The following table summarizes the disposition of our properties during 2012 and 2013 (in millions):
	Property Name		Date of Disposition		Contract Sales Price
	Palms of Monterrey		January 5, 2012		$	39.3
	Parrot’s Landing		October 31, 2012		$	56.3
	Interchange Business Center(1)		October 18, 2012		$	7.5
	Interchange Business Center(1)		April 12, 2013		$	40.4
	Original Florida MOB Portfolio(2)		20-Sep-13		$	63
	_________________________________
	(1) On October 18, 2012, we sold one of the four industrial buildings at Interchange Business Center to an unaffiliated third party.  On April 12, 2013, we sold the remaining three buildings to an unaffiliated third party.
	(2) On September 20, 2013, we sold the original eight medical office buildings. We continue to own approximately 79.8% of the ninth building, Gardens Medical Pavilion.
	On May 30, 2014, we sold our 1875 Lawrence office building. The disposal of the 1875 Lawrence property does not represent a strategic shift, therefore it is presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012. See Note 6, Real Estate and Real Estate-Related Investments, for further details.
	We have classified the results of operations for the Palms of Monterey, Parrot's Landing, the Interchange Business Center and the Original Florida MOB Portfolio into discontinued operations in the accompanying consolidated statements of operations. The following table summarizes the income from discontinued operations for the years ended December 31, 2013 and 2012 (in thousands):
		Years ended December 31,
		2013				2012
	Rental revenue	$	8,637			$	17,655
	Expenses
	Property operating expenses	4,141				7,716
	Interest expense	983				6,824
	Real estate taxes	597				2,216
	Property management fees	401				727
	Asset management fees	50				185
	Depreciation and amortization	2,603				5,442
	Total expenses	8,775				23,110
	Loss on early extinguishment of debt(1)	(265		)		(1,906		)
	Interest income, net	4				15
	Loss from discontinued operations	(399		)		(7,346		)
	Gain on sale of real estate	31,558				29,358
	Income from discontinued operations	31,159				22,012
	Income attributable to noncontrolling interests	(5,454		)		(8,352		)
	Income from discontinued operations attributable to the Company	$	25,705			$	13,660
	Capital expenditures	$	1,250			$	178
	______________________________________
	-1	Loss on early extinguishment of debt for the years ended December 31, 2013 and 2012 were approximately $0.3 million and $1.9 million, respectively, and were comprised of the write-off of deferred financing fees of $0.1 million and $1 million and early termination fees of $0.2 million and $0.9 million, respectively.
	Changes in operating and investing noncash items related to discontinued operations were not significant for the years ended December 31, 2013 and 2012.

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 financial information for the years ended December 31, 2014 and 2013 ($ in thousands, except per share amounts):
		2014 Quarters Ended
		March 31			June 30			September 30			December 31
	Revenue	$	12,245		$	12,027		$	11,357		$	12,968
	Income (loss) from continuing operations(1)	$	(2,849	)	$	9,025		$	(2,644	)	$	(3,866	)
	Add: Net (income)/loss attributable to noncontrolling interest	(35		)	159			154			53
	Net income (loss) attributable to common shareholders	$	(2,884	)	$	9,184		$	(2,490	)	$	(3,813	)
	Basic and diluted weighted average shares outstanding	26,011			25,993			25,935			25,836
	Basic and diluted income (loss) per share	$	(0.11	)	$	0.35		$	(0.10	)	$	(0.14	)
		2013 Quarters Ended
		March 31			June 30			September 30			December 31
	Revenue	$	9,469		$	10,493		$	11,596		$	11,831
	Loss from continuing operations	$	(4,404	)	$	(4,719	)	$	(4,602	)	$	(3,828	)
	Income (loss) from discontinued operations, including gains on dispositions(2)	(110		)	14,292			16,952			25
	Add: Net (income)/loss attributable to noncontrolling interest	182			(3,559		)	(1,510		)	10
	Net income (loss) attributable to common shareholders	$	(4,332	)	$	6,014		$	10,840		$	(3,793	)
	Basic and diluted weighted average shares outstanding	26,054			26,039			26,032			26,017
	Basic and diluted income (loss) per share	$	(0.17	)	$	0.23		$	0.42		$	(0.14	)
	__________________________________________
	-1	Income from continuing operations for the quarter ended June 30, 2014 includes an $11.5 million gain on the sale of our 1875 Lawrence property. See Note 6, Real Estate and Real Estate-Related Investments.
	-2	The results of operations and gain on sales for the properties sold in 2013 have been reclassified and reported in discontinued operations for the year ended December 31, 2013. We recorded gain on sales of approximately $14.5 million and $17.1 million in the second and third quarters of 2013, respectively.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2014
Subsequent Events [Abstract]
Subsequent Events	Subsequent Events
	Real Estate Asset Dispositions
	On January 8, 2015, we sold our Babcock property for a contract sales price of approximately $5.4 million. A portion of the proceeds from the sale were used to pay off in full the existing indebtedness of $2.1 million associated with the property. Babcock is classified as held for sale on our consolidated balance sheet as of December 31, 2014.
	On February 21, 2015, we sold AJS located in Berlin Germany, for a contract sales price of approximately €12.4 million or approximately $14.1 million based on the exchange rate in effect on February 21, 2015.  A portion of the proceeds from the sale were used to fully satisfy the existing indebtedness associated with the property of approximately €5.7 million or approximately $6.5 million based on the exchange rate in effect on February 21, 2015. AJS is classified as held for sale on our consolidated balance sheet as of December 31, 2014.
	The Company does not view the disposals of Babcock and AJS as a strategic shift, therefore the results of operations for the two investments are presented in continuing operations in the consolidated statements of operations for the years ended December 31, 2014, 2013 and 2012.

Valuation_and_Qualifying_Accou

Valuation and Qualifying Accounts and Reserves Schedule II	12 Months Ended
	Dec. 31, 2013
Valuation and Qualifying Accounts [Abstract]
Valuation and Qualifying Accounts and Reserves Schedule II	Behringer Harvard Opportunity REIT II, Inc.
	Valuation and Qualifying Accounts and Reserves
	Schedule II
	December 31, 2014, 2013 and 2012
	(in thousands)
		Balance at		Charged to		Charged to		Deductions		Balance at End
		Beginning of		Costs and		Other Accounts				of Period
		Period		Expenses
	As of December 31, 2014
	Allowance for doubtful accounts	$	46	$	304	$	—	$	348	$	2
	As of December 31, 2013
	Allowance for doubtful accounts	44		313		—		311		46
	As of December 31, 2012
	Allowance for doubtful accounts	29		391		—		376		44

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	Behringer Harvard Opportunity REIT II, Inc.
	Real Estate and Accumulated Depreciation
	Schedule III
	December 31, 2014
	(in thousands)
								Initial cost
	Property Name	Location		Encumbrances				Land and				Building and			Cost capitalized			Gross amount		Accumulated			Year of	Date	Depreciable
								Improvements				Improvements			subsequent to			carried at		Depreciation			Construction	Acquired	Life
															acquisition			close of period
	Holstenplatz	Hamburg, Germany		$	9,125			$	2,867		-1	$	9,363	-1	$	(162	)	$	12,068	$	1,792	-1	1998	6/30/10	-2
	Gardens Medical Pavilion	Palm Beach Gardens, Florida		13,678				5,675				13,158			3,655			22,488		3,031			1995	10/20/10	-2
	Courtyard Kauai Coconut Beach Hotel	Kauai, Hawaii		38,000				11,801				20,948			10,219			42,968		4,023			1977	10/20/10	-3
	River Club and the Townhomes at River Club	Athens, Georgia		24,664				6,639				24,789			1,509			32,937		5,112			1996 & 1989	4/25/11	-2
	Lakes of Margate	Margate, Florida		14,723				9,776				13,061			3,940			26,777		2,794			1987	10/19/11	-2
	Arbors Harbor Town	Memphis, Tennessee		25,591				5,413				24,713			2,615			32,741		3,781			1991	12/20/11	-2
	Wimberly at Deerwood	Jacksonville, Florida		26,685				5,473				28,089			2,976			36,538		2,534			2000	2/19/13	-2
	22 Exchange	Akron, Ohio		19,500				2,380				24,786			1,846			29,012		1,769			2010	4/16/13	-2
	Parkside Apartments	Sugarland, Texas		10,828				3,143				18,148			807			22,098		1,050			1998	8/8/13	-2
	Lakewood Flats	Dallas, Texas		33,500				8,196				49,703			7			57,906		349			2013	10/10/14	-2
	Sub-total			216,294				61,363				226,758			27,412			315,533		26,235
	Real Estate Held for Sale:
	Babcock Self Storage	San Antonio, Texas		2,137				1,047				2,453			56			3,556		383			2000	8/30/11
	Alte Jakobstraße	Berlin, Germany		6,985				2,367			-1	8,523		-1	(336		)	10,554		951		-1	1997	4/5/12
	Total real estate held for sale			9,122				3,414				10,976			(280		)	14,110		1,334
	Totals			$	225,416			$	64,777			$	237,734		$	27,132		$	329,643	$	27,569
	__________________
	-1	Includes gain/(loss) on currency translation.
	-2	Buildings are 25 years
	-3	Hotels are 39 years
	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):
		2014				2013				2012
	Real Estate:
	Balance at beginning of period	$	308,808			$	294,054			$	317,395
	Acquisitions	57,899				82,019				10,890
	Improvements(1)	4,477				8,227				12,365
	Disposals/written-off	(19		)		(75		)		—
	Reclassification(2)	(689		)		(254		)		(1,406		)
	Cost of real estate sold	(40,833		)		(75,163		)		(45,190		)
	Balance at end of the period(3)	$	329,643			$	308,808			$	294,054
	Accumulated depreciation:
	Balance at beginning of period	$	23,779			$	19,921			$	11,489
	Depreciation expense	11,077				11,855				11,227
	Disposals/written-off	(7,287		)		(7,997		)		(2,795		)
	Balance at end of the period(3)	$	27,569			$	23,779			$	19,921
	_______________________________________________________________________________
	-1	For the year ended December 31, 2014 includes foreign currency translation loss of $3 million. For the years ended December 31, 2013 and 2012, includes foreign currency translation gains $1 million and $0.3 million, respectively.
	-2	For the years ended December 31, 2014, 2013 and 2012, includes reclassification from improvements to furniture, fixtures and equipment of $0.7 million, $0.3 million and $1.4 million, respectively.
	-3	For the year ended December 31, 2014, includes Alte Jakobstraße and Babcock Self Storage which were classified as held for sale in our consolidated balance sheet.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Use of Estimates in the Preparation of Financial Statements	Use of Estimates in the Preparation of Financial Statements
	The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America ("GAAP") requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. These estimates include such items as purchase price allocation for real estate acquisitions, impairment of long-lived assets, depreciation and amortization, and allowance for doubtful accounts. Actual results could differ from those estimates.
Principles of Consolidation and Basis of Presentation	Principles of Consolidation and Basis of Presentation
	Our consolidated financial statements include our accounts and the accounts of other subsidiaries over which we have control. All inter-company transactions, balances, and profits have been eliminated in consolidation. Interests in entities acquired will be evaluated based on applicable GAAP, which includes the requirement to consolidate entities deemed to be variable interest entities ("VIE") in which we are the primary beneficiary. If the interest in the entity is determined not to be a VIE, then the entity will be evaluated for consolidation based on legal form, economic substance, and the extent to which we have control and/or substantive participating rights under the respective ownership agreement. For entities in which we have less than a controlling interest or entities which we are not deemed to be the primary beneficiary, we account for the investment using the equity method of accounting.
	There are judgments and estimates involved in determining if an entity in which we have made an investment is a VIE and, if so, whether we are the primary beneficiary.  The entity is evaluated to determine if it is a VIE by, among other things, calculating the percentage of equity being risked compared to the total equity of the entity.  Determining expected future losses involves assumptions of various possibilities of the results of future operations of the entity, assigning a probability to each possibility and using a discount rate to determine the net present value of those future losses.  A change in the judgments, assumptions, and estimates outlined above could result in consolidating an entity that should not be consolidated or accounting for an investment using the equity method that should in fact be consolidated, the effects of which could be material to our financial statements.
Real Estate	Real Estate
	Upon the acquisition of real estate properties, we recognize the assets acquired, the liabilities assumed and any noncontrolling interest as of the acquisition date, measured at their fair values. The acquisition date is the date on which we obtain control of the real estate property. The assets acquired and liabilities assumed may consist of land, inclusive of associated rights, buildings, assumed debt, identified intangible assets and liabilities and asset retirement obligations. Identified intangible assets generally consist of above-market leases, in-place leases, in-place tenant improvements, in-place leasing commissions and tenant relationships. Identified intangible liabilities generally consist of below-market leases. Goodwill is recognized as of the acquisition date and measured as the aggregate fair value of the consideration transferred and any noncontrolling interests in the acquiree over the fair value of the 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 interests in the acquiree is less than the fair value of the identifiable net assets acquired. Acquisition-related costs are expensed in the period incurred. Initial valuations are subject to change until our information is finalized, which is no later than twelve months from the acquisition date.
	The fair value of the tangible assets acquired, consisting of land and buildings, is determined by valuing the property as if it were vacant, and the "as-if-vacant" value is then allocated to land and buildings. Land values are derived from appraisals, and building values are calculated as replacement cost less depreciation or management's estimates of the fair value of these assets using discounted cash flow analyses or similar methods believed to be used by market participants. The value of hotels and all other buildings is depreciated over the estimated useful lives of 39 years and 25 years, respectively, using the straight-line method.
	We determine the fair value of assumed debt by calculating the net present value of the scheduled mortgage payments using interest rates for debt with similar terms and remaining maturities that management believes we could obtain at the date of the debt assumption. 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 using the effective interest method.
	We determine the value of above-market and below-market 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) management's estimate of current market lease rates for the corresponding in-place leases, measured over a period equal to (a) the remaining non-cancelable lease term for above-market leases, or (b) the remaining non-cancelable lease term plus any below-market fixed rate renewal options that, based on a qualitative assessment of several factors, including the financial condition of the lessee, the business conditions in the industry in which the lessee operates, the economic conditions in the area in which the property is located, and the ability of the lessee to sublease the property during the renewal term, are reasonably assured to be exercised by the lessee 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 determined lease term.
	The total value of identified real estate intangible assets acquired is further allocated to in-place leases, in-place tenant improvements, in-place leasing commissions and tenant relationships based on our evaluation of the specific characteristics of each tenant’s lease and our overall relationship with that respective tenant.  The aggregate value for tenant improvements and leasing commissions is based on estimates of these costs incurred at inception of the acquired leases, amortized through the date of acquisition.  The aggregate value of in-place leases acquired and tenant relationships is determined 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 spaces considering existing market conditions.  In estimating the carrying costs that would have otherwise been incurred had the leases not been in place, we include such items as real estate taxes, insurance and other operating expenses as well as lost rental revenue during the expected lease-up period based on existing market conditions.  The estimates of the fair value of tenant relationships also include costs to execute similar leases including leasing commissions, legal fees and tenant improvements as well as an estimate of the likelihood of renewal as determined by management on a tenant-by-tenant basis.
	We amortize the value of in-place leases, in-place tenant improvements and in-place leasing commissions to expense over the initial term of the respective leases.  The tenant relationship values are amortized to expense over the initial term and any anticipated renewal periods, but in no event does the amortization period for intangible assets or liabilities exceed the remaining depreciable life of the building.  Should a tenant terminate its lease, the unamortized portion of the acquired lease intangibles related to that tenant would be charged to expense.
Real Estate Held for Sale	Real Estate Held for Sale and Discontinued Operations
	We classify properties as held for sale when certain criteria are met, in accordance with GAAP. At that time, we present the assets and obligations of the property held for sale separately in our consolidated balance sheet and we cease recording depreciation and amortization expense related to that property. Properties held for sale are reported at the lower of their carrying amount or their estimated fair value, less estimated costs to sell. During the fourth quarter of 2014, we entered into Purchase and Sale Agreements ("PSA") for Babcock, a self storage facility in Texas, and AJS, one of our two office buildings located in Germany, and classified Babcock and AJS as real estate held for sale in our consolidated balance sheet at December 31, 2014. We sold Babcock on January 8, 2015 and AJS on February 21, 2015. We had no assets classified as held for sale at December 31, 2013.
	Effective as of April 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 April 1, 2014, we will evaluate whether a disposal transaction meets the criteria of a strategic shift and will have a major effect on our operations and financial results to determine if the results of operations and gains on sale of real estate will be presented as part of our continuing operations or as discontinued operations in our consolidated statements of operations. If the disposal represents a strategic shift, it will be classified as discontinued operations for all periods presented; if not, it will be presented in continuing operations.
Cash and Cash Equivalents	Cash and Cash Equivalents
	We consider investments in highly liquid money market funds or investments with original maturities of three months or less to be cash equivalents. The carrying amount of cash and cash equivalents reported on the balance sheet approximates fair value.
Restricted Cash	Restricted Cash
	As required by our lenders, restricted cash is held in escrow accounts for anticipated capital expenditures, real estate taxes and other reserves for our consolidated properties. Capital reserves are typically utilized for non-operating expenses such as tenant improvements, leasing commissions and major capital expenditures. Alternatively, a lender may require its own formula for an escrow of capital reserves.
Investment Impairment	Investment Impairment
	For all of our real estate and real estate related investments, we monitor events and changes in circumstances indicating that the carrying amounts of the real estate assets may not be recoverable.  Examples of the types of events and circumstances that would cause management to assess our assets for potential impairment include, but are not limited to: a significant decrease in the market price of an asset; a significant adverse change in the manner in which the asset is being used; an accumulation of costs in excess of the acquisition basis plus construction of the property; major vacancies and the resulting loss of revenues; natural disasters; a change in the projected holding period; legitimate purchase offers and changes in the global and local markets or economic conditions.  Our assets may at times be concentrated in limited geographic locations and, to the extent that our portfolio is concentrated in limited geographic locations, downturns specifically related to such regions may result in tenants defaulting on their lease obligations at a portion of our properties within a short time period, which may result in asset impairments.  When such events or changes in circumstances are present, we assess potential impairment by comparing estimated future undiscounted operating cash flows expected to be generated over the life of the asset and from its eventual disposition to the carrying amount of the asset.  These projected cash flows are prepared internally by the Advisor and reflect in-place and projected leasing activity, market revenue and expense growth rates, market capitalization rates, discount rates, and changes in economic and other relevant conditions. The Company’s Principal Executive Officer and Principal Financial Officer, as well as a panel of asset managers and a financial analyst of the Advisor, review these projected cash flows to assure that the valuation is prepared using reasonable inputs and assumptions that are consistent with market data or with assumptions that would be used by a third-party market participant and assume the highest and best use of the investment. We consider trends, strategic decisions regarding future development plans, and other factors in our assessment of whether impairment conditions exist. In the event that the carrying amount exceeds the estimated future undiscounted operating cash flows, we recognize an impairment loss to adjust the carrying amount of the asset to estimated fair value. While we believe our estimates of future cash flows are reasonable, different assumptions regarding factors such as market rents, economic conditions, and occupancy rates could significantly affect these estimates.
	In evaluating our investments for impairment, management may use appraisals and make estimates and assumptions, including, but not limited to, the projected date of disposition of the properties, the estimated future cash flows of the properties during our ownership, and the projected sales price of each of the properties.  A future change in these estimates and assumptions could result in understating or overstating the carrying value of our investments, which could be material to our financial statements. In addition, we may incur impairment charges on assets classified as held for sale in the future if the carrying amount of the asset upon classification as held for sale exceeds the estimated fair value, less costs to sell.
	We also evaluate our investments in unconsolidated joint ventures at each reporting date.  If we believe there is an other than temporary decline in market value, we will record an impairment charge based on these evaluations.  We assess potential impairment by comparing our portion of estimated future undiscounted operating cash flows expected to be generated by the joint venture over the life of the joint venture’s assets to the carrying amount of the joint venture.  In the event that the carrying amount exceeds our portion of estimated future undiscounted operating cash flows, we recognize an impairment loss to adjust the carrying amount of the joint venture to its estimated fair value.
	We believe the carrying value of our operating real estate is currently recoverable. Accordingly, there were no impairment charges for the years ended December 31, 2014, 2013, and 2012. However, if market conditions worsen unexpectedly or if changes in our strategy significantly affect any key assumptions used in our fair value calculations, we may need to take charges in future periods for impairments related to our existing investments. Any such non-cash charges would have an adverse effect on our consolidated financial position and results of operations.
Investment in Unconsolidated Joint Venture	Investment in Unconsolidated Joint Venture
	We provide funding to third party developers for the acquisition, development and construction of real estate (“ADC Arrangement”).  Under the ADC Arrangement, we may participate in the residual profits of the project through the sale or refinancing of the property.  We evaluate this arrangement to determine if they have characteristics similar to a loan or if the characteristics are more similar to a joint venture or partnership such as participating in the risks and rewards of the project as an owner or an investment partner.  When we determine that the characteristics are more similar to a jointly-owned investment or partnership, we account for the arrangement as an investment in an unconsolidated joint venture under the equity method of accounting or a direct investment (consolidated basis of accounting) instead of applying loan accounting. The ADC Arrangement is reassessed at each reporting period. See Note 8, Investment in Unconsolidated Joint Venture, for further discussion.
Revenue Recognition	Revenue Recognition
	We recognize rental income generated from leases of our operating properties on a straight-line basis over the terms of the respective leases, including the effect of rent holidays, if any. Straight-line rent was income of $0.2 million recognized in rental revenues for the year ended December 31, 2014. Straight-line rent was income of $0.4 million, and $0.3 million recognized in rental revenues for the years ended December 31, 2013 and 2012, respectively, and included amounts recognized in discontinued operations. Leases associated with our multifamily, student housing, hotel and self-storage assets are generally short-term in nature, and thus have no straight-line rent. Net above-market lease amortization of less than $0.1 million was recognized in rental revenues for the year ended December 31, 2014. Net above-market lease amortization of less than $0.1 million was recognized in rental revenues for the year ended December 31, 2013 and included amounts recognized in discontinued operations. Net below-market lease amortization of $0.2 million was recognized in rental revenues for the year ended December 31, 2012 and included amounts recognized in discontinued operations.
	Hotel revenue is derived from the operations of the Courtyard Kauai Coconut Beach Hotel and consists primarily of guest room, food and beverage, and other ancillary revenues such as laundry and parking. Hotel revenue is recognized as the services are rendered.
Accounts Receivable	Accounts Receivable
	Accounts receivable primarily consist of receivables related to our consolidated properties of $2.2 million and $3 million as of December 31, 2014 and 2013, respectively, and included straight-line rental revenue receivables of $0.6 million and $1 million as of December 31, 2014 and 2013, respectively.
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets
	Prepaid expenses and other assets of $1.4 million and $1.2 million as of December 31, 2014 and 2013, respectively, included prepaid directors' and officers' insurance, as well as prepaid insurance of our consolidated properties.
Furniture, Fixtures, and Equipment	Furniture, Fixtures, and Equipment
	Furniture, fixtures, and equipment are recorded at cost and are depreciated according to the Company’s capitalization policy which uses the straight-line method over their estimated useful lives of five to seven years. Properties classified as held for sale are not depreciated. Maintenance and repairs are charged to operations as incurred. Accumulated depreciation associated with our furniture, fixtures, and equipment was $6.4 million and $4.2 million as of December 31, 2014 and 2013, respectively.
Deferred Financing Fees	Deferred Financing Fees
	Deferred financing fees are recorded at cost and are amortized to interest expense of our notes payable using a straight-line method that approximates the effective interest method over the life of the related debt. Accumulated amortization of deferred financing fees was $2.2 million and $1.8 million as of December 31, 2014 and 2013, respectively.
Derivative Financial Instruments	Derivative Financial Instruments
	Our objective in using derivatives is to add stability to interest expense and to manage our exposure to interest rate movements or other identified risks and to minimize the variability caused by foreign currency translation risk related to our net investment in foreign real estate. To accomplish these objectives, we use various types of derivative instruments to manage fluctuations in cash flows resulting from interest rate risk attributable to changes in the benchmark interest rate of LIBOR. These instruments include LIBOR-based interest rate swaps and caps. For our net investments in foreign real estate, we may use foreign exchange put/call options to eliminate the impact of foreign currency exchange movements on our financial position.
	We measure our derivative instruments and hedging activities at fair value and record them as an asset or liability, depending on our rights or obligations under the applicable derivative contract. Changes in fair value of derivative instruments not designated as hedges are recognized in earnings in the affected period.
	As of December 31, 2014, we do not have any derivatives designated as net investment hedges, fair value hedges or cash flow hedges. No derivatives were being used for trading or speculative purposes. See Note 4, Assets and Liabilities Measured at Fair Value, and Note 11, Derivative Instruments and Hedging Activities, for further information regarding our derivative financial instruments.
Income Taxes	Income Taxes
	We have elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended (the "Code"), and have qualified as a REIT since the year ended December 31, 2008. To qualify as a REIT, we must meet a number of organizational and operational requirements, including a requirement that we distribute at least 90% of our REIT taxable income to our stockholders. As a REIT, we generally will not be subject to federal income tax at the corporate level. We are organized and operate in such a manner as to qualify for taxation as a REIT under the Code and intend to continue to operate in such a manner, but no assurance can be given that we will operate in a manner so as to qualify or remain qualified as a REIT. Taxable income from non-REIT activities managed through a taxable REIT subsidiary ("TRS") is subject to applicable federal, state, and local income and margin taxes. We have no taxable income associated with a TRS. Our operating partnerships are flow-through entities and are not subject to federal income taxes at the entity level.
Foreign Currency Translation	Foreign Currency Translation
	For our international investments where the functional currency is other than the U.S. dollar, assets and liabilities are translated using period-end exchange rates, while the statement of operations amounts are translated using the average exchange rates for the respective period. Gains and losses resulting from the change in exchange rates from period to period are reported separately as a component of other comprehensive income (loss) ("OCI"). Gains and losses resulting from foreign currency transactions are included in the consolidated statements of operations and comprehensive income (loss).
	The Euro is the functional currency for the operations of Holstenplatz and Alte Jakobstraße. We also maintain a Euro-denominated bank account that is translated into U.S. dollars at the current exchange rate at each reporting period. For the three years ended December 31, 2014, 2013, and 2012, the foreign currency translation adjustment was a loss of $0.8 million, a gain of $0.3 million and a gain of less than $0.1 million, respectively.
Other Comprehensive Income (Loss)	Other Comprehensive Income (Loss)
	Items of other comprehensive income (loss) consist of gains and losses affecting equity that are excluded from net income (loss) under GAAP. The components of OCI consist of cumulative foreign currency translation gains and losses and the unrealized gain on derivative instruments.
Stock-Based Compensation	Stock-Based Compensation
	We have adopted a stock-based incentive award plan for our directors and consultants and for employees, directors and consultants of our affiliates. We have not issued any stock-based awards under the plan as of December 31, 2014.
Concentration of Credit Risk	Concentration of Credit Risk
	At December 31, 2014 and 2013, we had cash and cash equivalents deposited in certain financial institutions in excess of federally insured levels.  We have diversified our cash and cash equivalents among several banking institutions in an attempt to minimize exposure to any one of these entities.  We regularly monitor the financial stability of these financial institutions and believe that we are not exposed to any significant credit risk in cash and cash equivalents or restricted cash.
	Geographic and Asset Type Concentration
	Our investments in target assets may at times be concentrated in certain asset types that are subject to higher risk of foreclosure, or secured by assets concentrated in a limited number of geographic locations. For the year ended December 31, 2014, excluding assets held for sale and 1875 Lawrence sold in 2014, 36% and 23% of our total revenues were derived from our properties located in Hawaii and Florida, respectively. Additionally, excluding assets held for sale and 1875 Lawrence, 37%, 36%, 18%, and 9% of our total revenues for the year ended December 31, 2014 were from our four asset types, multifamily, hotel, student housing and office buildings, respectively. To the extent that our portfolio is concentrated in limited geographic regions or types of assets, downturns relating generally to such region or type of asset may result in defaults on a number of our investments within a short time period, which may reduce our net income and the value of our common stock and accordingly limit our ability to fund our operations.
Noncontrolling Interest	Noncontrolling Interest
	Noncontrolling interest represents the noncontrolling ownership interest’s proportionate share of the equity in our consolidated real estate investments.  Income and losses are allocated to noncontrolling interest holders based generally on their ownership percentage.  In certain instances, our joint venture agreement provides for liquidating distributions based on achieving certain return metrics (“promoted interest”).  If a property reaches a defined return threshold, then it will result in distributions to noncontrolling interest which is different from the standard pro-rata allocation percentage.
Earnings per Share	Earnings per Share
	Net income (loss) per share is calculated based on the weighted average number of common shares outstanding during each period. The weighted average shares outstanding used to calculate both basic and diluted income (loss) per share were the same for each of the three years ended December 31, 2014, 2013 and 2012, as there were no potentially dilutive securities outstanding.
Reclassification	Reclassification
	To conform to the presentation for the years ended December 31, 2014 and 2013, which present hotel operating expense as a separate component of property operating expense on our consolidated statements of operations and comprehensive income, we reclassified $10 million from property operating expense to hotel operating expense for the year ended December 31, 2012.
Reportable Segments	Reportable Segments
	GAAP establishes standards for reporting financial and descriptive information about an enterprise's reportable segments. We have determined that we have one reportable segment, with activities related to the ownership, development and management of real estate assets. Our chief operating decision maker evaluates operating performance on an individual property level. Therefore, our properties are aggregated into one reportable segment.
Subsequent Events	Subsequent Events
	We have evaluated subsequent events for recognition or disclosure in our consolidated financial statements.
New Accounting Pronouncements	New Accounting Pronouncements

Summary_of_Significant_Account2

Summary of Significant Accounting Policies (Tables)	12 Months Ended
	Dec. 31, 2014
Accounting Policies [Abstract]
Schedule of anticipated amortization expense associated with acquired lease intangibles	Anticipated amortization expense associated with the acquired lease intangibles for each of the following five years ended December 31 is as follows:
	Year	Lease / Other
		Intangibles(1)
	2015	$	1,122
	2016	91
	2017	55
	2018	20
	2019	9
Schedule of accumulated depreciation and amortization related to entity's consolidated investments in real estate assets and intangibles	Accumulated depreciation and amortization related to our consolidated investments in real estate assets and intangibles were as follows:
	December 31, 2014	Buildings and			Land and			Lease			Acquired
		Improvements			Improvements			Intangibles			Below-Market
											Leases
	Cost(1)	$	252,812		$	62,447		$	4,551		$	(469	)
	Less: depreciation and amortization(1)	(24,162		)	(2,073		)	(2,701		)	259
	Net	$	228,650		$	60,374		$	1,850		$	(210	)
	______________________________________________
	-1	Excludes Babcock and AJS which were classified as held for sale as of December 31, 2014. These two properties sold on January 8, 2015 and February 21, 2015, respectively. Net book values included in assets associated with real estate held for sale in the consolidated balance sheet were buildings and improvements of $9.6 million, land and improvements of $3.2 million, lease intangibles of $0.2 million and acquired below-market leases of less than $0.1 million. See Note 7, Real Estate Held for Sale.
	December 31, 2013	Buildings and			Land and			Lease			Acquired
		Improvements			Improvements			Intangibles			Below-Market
											Leases
	Cost	$	241,881		$	66,828		$	8,102		$	(768	)
	Less: depreciation and amortization	(22,358		)	(1,421		)	(6,282		)	444
	Net	$	219,523		$	65,407		$	1,820		$	(324	)

Assets_and_Liabilities_Measure1

Assets and Liabilities Measured at Fair Value (Tables)	12 Months Ended
	Dec. 31, 2014
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Abstract]
Schedule of information about assets measured at fair value on a recurring basis	The following fair value hierarchy table presents information about our assets measured at fair value on a recurring basis as of December 31, 2014 and 2013:
	31-Dec-14	Level 1		Level 2		Level 3		Total
	Assets
	Derivative financial instruments	$	—	$	28	$	—	$	28
	31-Dec-13	Level 1		Level 2		Level 3		Total
	Assets
	Derivative financial instruments	$	—	$	174	$	—	$	174

Real_Estate_and_Real_EstateRel1

Real Estate and Real Estate-Related Investments (Tables)	12 Months Ended
	Dec. 31, 2014
Real Estate [Abstract]
Schedule of information pertaining to consolidated investments	As of December 31, 2014, we consolidated 12 real estate assets, including Babcock and AJS which are classified as real estate held for sale in our consolidated balance sheet. The following table presents certain information about our consolidated investments as of December 31, 2014:
	Property Name		Description		Location	Date Acquired		Ownership
								Interest
	Holstenplatz		Office building		Hamburg, Germany	June 30, 2010		100	%
	Gardens Medical Pavilion(1)		Medical office building		Palm Beach Gardens, Florida	October 20, 2010(1)		79.8	%	-1
	Courtyard Kauai Coconut Beach Hotel		Hotel		Kauai, Hawaii	October 20, 2010		80	%
	River Club and the		Student housing		Athens, Georgia	April 25, 2011		85	%
	Townhomes at River Club
	Babcock Self Storage(2)		Self-storage		San Antonio, Texas	August 30, 2011		85	%
	Lakes of Margate		Multifamily		Margate, Florida	October 19, 2011		92.5	%
	Arbors Harbor Town		Multifamily		Memphis, Tennessee	December 20, 2011		94	%
	Alte Jakobstraße(2)		Office building		Berlin, Germany	April 5, 2012		99.7	%
	Wimberly at Deerwood ("Wimberly")		Multifamily		Jacksonville, Florida	19-Feb-13		95	%
	22 Exchange		Student housing		Akron, Ohio	16-Apr-13		90	%
	Parkside Apartments ("Parkside")		Multifamily		Sugarland, Texas	8-Aug-13		90	%
	Lakewood Flats		Multifamily		Dallas, Texas	10-Oct-14		100	%
	____________________________
	-1	We acquired a portfolio of eight medical office buildings, known as the Original Florida MOB Portfolio, on October 8, 2010.  We acquired a medical office building known as Gardens Medical Pavilion on October 20, 2010.  Collectively, the Original Florida MOB Portfolio and Gardens Medical Pavilion were referred to as the Florida MOB Portfolio.  The Florida MOB Portfolio consisted of nine medical office buildings.  On September 20, 2013, we sold the Original Florida MOB Portfolio. As of December 31, 2014, we own approximately 79.8% of the ninth building, Gardens Medical Pavilion.
Schedule of amounts of identified assets acquired at acquisition date	The following table summarizes the amounts of identified assets acquired and liabilities assumed at the acquisition date:
		Total
		Acquisition
	Buildings and improvements	$	49,703
	Land and land improvements	8,196
	Lease intangibles, net	1,529
	Furniture, fixtures and equipment	1,072
	Total identifiable net assets	$	60,500
Schedule of amounts recognized for revenues, acquisition expenses and net loss	The following table summarizes the amounts recognized for revenues, acquisition expenses and net loss from the acquisition date to December 31, 2014 (in millions):
			Lakewood Flats
	Revenue		$	1,385
	Acquisition expenses with unaffiliated third party		185
	Net loss		(474		)
Schedule of unaudited pro forma	The following unaudited pro forma summary presents our consolidated information for the acquisition as if the business combination had occurred on January 1, 2013 (in thousands, except per share):
			Pro Forma for the Twelve Months Ended December 31, (Unaudited)
			2014			2013
	Revenue		$	52,840		$	47,665
	Depreciation and amortization		16,334			17,813
	Net income (loss)		(263		)	5,605
	Net income (loss) per share		$	(0.01	)	$	0.22
Schedule of real estate sold	The following table presents our sale of real estate for the year ended December 31, 2014 (in millions):
	Date of Sale		Property		Ownership Interest	Sales Contract Price				Net Cash Proceeds			Gain on Sale of Real Estate
	30-May-14		1875 Lawrence		100%	$	46.7			$	46.3		$	11.5
Net income (loss), real estate sold during period	The following table presents net income (loss) attributable to the Company for the three years ended December 31, 2014, 2013 and 2012 related to the 1875 Lawrence office building sold in 2014. Net income for the year ended December 31, 2014 includes the gain on sale of real estate (in millions):
			Years Ended December 31,
			2014			2013				2012
	Net income (loss) attributable to the Company		$	9.9		$	(2.1	)		$	(1.5	)

Investment_in_Unconsolidated_J1

Investment in Unconsolidated Joint Venture (Tables)	12 Months Ended
	Dec. 31, 2014
Equity Method Investments and Joint Ventures [Abstract]
Ownership in Joint Venture	The following table sets forth our ownership interest in Prospect Park:
	Property Name	Ownership Interest at December 31, 2014	Carrying Amount at December 31, 2014(1)
	Prospect Park	N/A	$13,973
	______________________________
	(1)  For the year ended December 31, 2013, approximately $2 million of the $2.4 million of distributions was an interest reserve funded at closing (classified as restricted cash on the consolidated balance sheet at December 31, 2013). The interest reserve was fully utilized in 2014.

Notes_Payable_Tables

Notes Payable (Tables)	12 Months Ended
	Dec. 31, 2014
Debt Disclosure [Abstract]
Schedule of information on notes payable	The following table sets forth information on our notes payable as of December 31, 2014 and 2013:
	Description	2014			2013			Interest		Maturity
								Rate		Date
	1875 Lawrence(1)	$	—		$	15,621		30-day LIBOR + 5.35%	(2)	1/1/16
	Holstenplatz	9,125			10,581			3.89%		4/30/15
	Courtyard Kauai Coconut Beach Hotel	38,000			38,000			30-day LIBOR + .95%	(2)	11/9/15
	Florida MOB Portfolio—Gardens Medical Pavilion	13,678			14,040			4.90%		1/1/18
	River Club and the Townhomes at River Club	24,664			25,010			5.26%		5/1/18
	Babcock Self Storage	n/a		(3)	2,182			5.80%		8/30/18
	Lakes of Margate	14,723			14,966			5.49% and 5.92%		1/1/20
	Arbors Harbor Town	25,591			26,000			3.98%		1/1/19
	Alte Jakobstraße	n/a		(3)	8,275			2.30%		12/30/15
	Wimberly	26,685			26,685			30-day LIBOR + 2.28%	(2)	3/1/23
	22 Exchange	19,500			19,500			3.93%		5/5/23
	Parkside(4)	10,828			11,177			5%		6/1/18
	Lakewood Flats	33,500			—			30-day LIBOR + 1.5%	(2)	11/5/19
		$	216,294		$	212,037
	Notes Payable included with Obligations related to real estate held for sale:
	Babcock Self Storage	$	2,137	(3)	n/a		(3)	5.80%		8/30/18
	Alte Jakobstraße	6,985		(3)	n/a		(3)	2.30%		12/30/15
		$	9,122
	Total notes payable obligations	$	225,416
	_____________________________
	(1) On May 30, 2014, we sold the 1875 Lawrence office building to an unaffiliated third party.  A portion of the proceeds from the sale were used to pay off in full the existing indebtedness associated with the property.
	(2) 30-day London Interbank Offer Rate ("LIBOR") was 0.16% at December 31, 2014.
	-3	As of December 31, 2014, Babcock and AJS were classified as real estate held for sale on our consolidated balance sheet. The properties were sold in the first quarter of 2015 and a portion of the sales proceeds for each property were used to pay off the existing indebtedness in full.
	(4) Includes approximately $0.6 million of unamortized premium related to debt we assumed at acquisition.
Contractual obligations for principal payments	following table summarizes our contractual obligations for principal payments as of December 31, 2014:
	Year	Amount Due(1)
	2015	$	49,195
	2016	2,448
	2017	2,671
	2018	47,400
	2019	58,346
	Thereafter	55,660
	Total contractual obligations for principal payments	$	215,720
	Unamortized premium	574
	Total notes payable	$	216,294

Leasing_Activity_Tables

Leasing Activity (Tables)	12 Months Ended
	Dec. 31, 2014
Leases [Abstract]
Future minimum base rental payments of our office and industrial properties due to us under non-cancelable leases	Future minimum base rental payments of our office properties due to us under non-cancelable leases in effect as of December 31, 2014 are as follows:
	Year	Amount Due
	2015	$	2,603
	2016	2,449
	2017	1,969
	2018	1,575
	2019	1,126
	Thereafter	4,651
	Total	$	14,373

Derivative_Instruments_and_Hed1

Derivative Instruments and Hedging Activities (Tables)	12 Months Ended
	Dec. 31, 2014
Derivative Instruments and Hedging Activities Disclosure [Abstract]
Summary of notional value of derivative financial instruments	The notional values provide an indication of the extent of our involvement in these instruments, but do not represent exposure to credit, interest rate, or market risks:
	Type / Description		Notional Value				Interest Rate /	Index		Maturity
							Strike Rate
	(not designated as hedging instruments)
	Interest rate cap - Courtyard Kauai Coconut Beach Hotel		$	38,000			3.00%	30-day LIBOR		October 15, 2016
	Interest rate cap - Wimberly		26,685				4.56%	30-day LIBOR		March 1, 2018
Summary of fair value of derivative financial instruments	The table below presents the fair value of our derivative financial instruments, as well as their classification on the consolidated balance sheets as of December 31, 2014 and 2013, respectively:
			Balance Sheet		Asset Derivatives
	Derivatives not designated as hedging instruments:		Location		2014			2013
	Interest rate derivative contracts		Prepaid expenses and other assets		$	28		$	174
Summary of effect of derivative financial instruments on consolidated statements of operations	The table below presents the effect of our derivative financial instruments on the consolidated statements of operations for the years ended December 31, 2014 and 2013:
	Derivatives Not Designated as Hedging Instruments
	Amount of Loss
	Year ended December 31,
	2014	2013
	$215	$94

Supplemental_Cash_Flow_Informa1

Supplemental Cash Flow Information (Tables)	12 Months Ended
	Dec. 31, 2014
Supplemental Cash Flow Information [Abstract]
Schedule of supplemental cash flow information	Supplemental cash flow information is summarized below:
		Twelve Months ended December 31,
		2014		2013		2012
	Interest paid, net of amounts capitalized	$	7,443	$	7,765	$	13,049
	Income tax paid, net of overpayment	29		—		—
	Non-cash investing activities and financing activities:
	Capital expenditures for real estate in accounts payable	—		20		17
	Capital expenditures for real estate in accrued liabilities	237		539		864
	Assumed debt on acquisition of real estate investment	—		11,306		—
	Assumed debt on disposition of real estate investment	—		17,983		—
	Common stock issued in distribution reinvestment plan	—		—		2,790
	Accrued distributions to noncontrolling interest	19		20		—

Discontinued_Operations_and_Re1

Discontinued Operations and Real Estate Held for Sale (Tables)	12 Months Ended
	Dec. 31, 2013
Discontinued Operations.
Schedule of Real Estate Dispositions, Contract Sale Price
	Property Name		Date of Disposition		Contract Sales Price
	Palms of Monterrey		January 5, 2012		$	39.3
	Parrot’s Landing		October 31, 2012		$	56.3
	Interchange Business Center(1)		October 18, 2012		$	7.5
	Interchange Business Center(1)		April 12, 2013		$	40.4
	Original Florida MOB Portfolio(2)		20-Sep-13		$	63
	_________________________________
	(1) On October 18, 2012, we sold one of the four industrial buildings at Interchange Business Center to an unaffiliated third party.  On April 12, 2013, we sold the remaining three buildings to an unaffiliated third party.
	(2) On September 20, 2013, we sold the original eight medical office buildings. We continue to own approximately 79.8% of the ninth building, Gardens Medical Pavilion.
Schedule of discontinued operations in consolidated statements of operations	The following table summarizes the income from discontinued operations for the years ended December 31, 2013 and 2012 (in thousands):
		Years ended December 31,
		2013				2012
	Rental revenue	$	8,637			$	17,655
	Expenses
	Property operating expenses	4,141				7,716
	Interest expense	983				6,824
	Real estate taxes	597				2,216
	Property management fees	401				727
	Asset management fees	50				185
	Depreciation and amortization	2,603				5,442
	Total expenses	8,775				23,110
	Loss on early extinguishment of debt(1)	(265		)		(1,906		)
	Interest income, net	4				15
	Loss from discontinued operations	(399		)		(7,346		)
	Gain on sale of real estate	31,558				29,358
	Income from discontinued operations	31,159				22,012
	Income attributable to noncontrolling interests	(5,454		)		(8,352		)
	Income from discontinued operations attributable to the Company	$	25,705			$	13,660
	Capital expenditures	$	1,250			$	178
	______________________________________
	-1	Loss on early extinguishment of debt for the years ended December 31, 2013 and 2012 were approximately $0.3 million and $1.9 million, respectively, and were comprised of the write-off of deferred financing fees of $0.1 million and $1 million and early termination fees of $0.2 million and $0.9 million, respectively.
	Changes in operating and investing noncash items related to discontinued operations were not significant for the years ended December 31, 2013 and 2012.

Quarterly_Results_Unaudited_Ta

Quarterly Results (Unaudited) (Tables)	12 Months Ended
	Dec. 31, 2014
Quarterly Financial Information Disclosure [Abstract]
Summary of the unaudited quarterly financial information	Presented below is a summary of the unaudited quarterly financial information for the years ended December 31, 2014 and 2013 ($ in thousands, except per share amounts):
		2014 Quarters Ended
		March 31			June 30			September 30			December 31
	Revenue	$	12,245		$	12,027		$	11,357		$	12,968
	Income (loss) from continuing operations(1)	$	(2,849	)	$	9,025		$	(2,644	)	$	(3,866	)
	Add: Net (income)/loss attributable to noncontrolling interest	(35		)	159			154			53
	Net income (loss) attributable to common shareholders	$	(2,884	)	$	9,184		$	(2,490	)	$	(3,813	)
	Basic and diluted weighted average shares outstanding	26,011			25,993			25,935			25,836
	Basic and diluted income (loss) per share	$	(0.11	)	$	0.35		$	(0.10	)	$	(0.14	)
		2013 Quarters Ended
		March 31			June 30			September 30			December 31
	Revenue	$	9,469		$	10,493		$	11,596		$	11,831
	Loss from continuing operations	$	(4,404	)	$	(4,719	)	$	(4,602	)	$	(3,828	)
	Income (loss) from discontinued operations, including gains on dispositions(2)	(110		)	14,292			16,952			25
	Add: Net (income)/loss attributable to noncontrolling interest	182			(3,559		)	(1,510		)	10
	Net income (loss) attributable to common shareholders	$	(4,332	)	$	6,014		$	10,840		$	(3,793	)
	Basic and diluted weighted average shares outstanding	26,054			26,039			26,032			26,017
	Basic and diluted income (loss) per share	$	(0.17	)	$	0.23		$	0.42		$	(0.14	)

Business_and_Organization_Deta

Business and Organization (Details) (USD $)	0 Months Ended	12 Months Ended		95 Months Ended	0 Months Ended
In Thousands, except Share data, unless otherwise specified	Jan. 21, 2008	Dec. 31, 2014	Dec. 31, 2012	Dec. 31, 2014	Jul. 05, 2011	Dec. 31, 2013	Jan. 19, 2007
		real_estate_investment
Organization
Number of real estate investments		13
Percentage of ownership interest by BHO II, Inc		0.10%
Percentage of remaining ownership interest held by BHO Business Trust II		99.90%
Common stock for sale to public (in shares)	125,000,000
Gross offering proceeds			$8,347
Common stock, shares outstanding		25,801,669		25,801,669		26,015,980
Common stock, shares issued		25,801,669		25,801,669		26,015,980
Convertible stock outstanding		1,000		1,000		1,000
Minimum
Organization
Liquidation period of assets and distribution of net proceeds to stockholders		3 years
Maximum
Organization
Liquidation period of assets and distribution of net proceeds to stockholders		6 years
Behringer Harvard Holdings
Organization
Common stock, shares outstanding		22,471		22,471
Convertible stock outstanding		1,000		1,000
Behringer Harvard Opportunity Advisors II, LLC
Organization
Convertible stock issued (in shares)		1,000		1,000
Convertible stock outstanding		1,000		1,000
Initial Offering
Organization
Common stock for sale to public (in shares)				26,700,000
Common stock being offered pursuant to reinvestment plan	25,000,000
Gross offering proceeds				$265,300
Common stock, shares outstanding		26,000,000		26,000,000
Common stock, shares issued		26,700,000		26,700,000
Common stock issued pursuant to reinvestment plan		2,200,000
Common stock redeemed (in shares)				900,000
Follow-On Offering
Organization
Common stock being offered pursuant to reinvestment plan					25,000,000
Common stock for sale to public (in shares)					75,000,000
Initial Capitalization | Behringer Harvard Holdings
Organization
Common stock, shares outstanding		22,471		22,471
Common stock, shares issued							22,471
Convertible stock issued (in shares)		1,000		1,000			1,000
Wholly owned
Organization
Number of properties		2		2
Partially owned (joint venture)
Organization
Number of properties		10		10
Consolidated
Organization
Number of real estate investments		12

Summary_of_Significant_Account3

Summary of Significant Accounting Policies (Details) (USD $)	12 Months Ended				2 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011	Feb. 28, 2015
	derivative				property
	segment
	asset_type
Real Estate
Period for change in initial valuations from acquisition date	12 months
Anticipated amortization expense associated with acquired lease intangibles
2015	$1,122,000
2016	91,000
2017	55,000
2018	20,000
2019	9,000
Real estate
Total real estate	289,298,000	285,029,000
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Net	1,850,000	1,820,000
Assets associated with real estate held for sale	12,951,000	0
Furniture, Fixtures, and Equipment
Accumulated depreciation associated with furniture, fixtures, and equipment	27,569,000	23,779,000	19,921,000	11,489,000
Investment Impairment
Impairment charges	0		0	0
Revenue Recognition
Straight-line rental revenue	200,000	400,000	300,000
Amortization of above and below market leases (less than - 2014 and 2013)	100,000	100,000	200,000
Accounts Receivable
Straight-line rental revenue	1,000,000	1,000,000
Prepaid Expense and Other Assets
Prepaid expenses and other assets	1,402,000	1,196,000
Deferred Financing Fees
Accumulated amortization, deferred financing fees	2,200,000	1,800,000
Derivative Financial Instruments
Number of derivatives used for trading or speculative purposes	0
Organization and Offering Expenses
Reimbursement of organization and offering expenses as a percentage of gross proceeds raised in primary component of offerings			1.50%
Organization and offering expense receivables net of other payables			3,800,000
Income Taxes
Required minimum percentage distribution of ordinary taxable income to stockholders to qualify as a REIT	90.00%
Foreign Currency Translation
Gain (loss) on foreign currency translation adjustment (less than - 2012)	-800,000	300,000	100,000
Geographic, Asset Type and Industry Concentration
Number of asset types	4
Net income (loss) per share attributable to common shareholders
Number of potentially dilutive securities outstanding	0		0	0
Reclassification [Abstract]
Reclassification from property operating expense to hotel operating expense			10,000,000
Reporting Segments
Number of reportable segments	1
Subsequent event
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Number of properties sold					2
Geographic concentration risk | Revenue | Hawaii
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	36.00%
Geographic concentration risk | Revenue | Florida
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	23.00%
Business segment concentration risk | Revenue | Multifamily
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	37.00%
Business segment concentration risk | Revenue | Hotels
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	36.00%
Business segment concentration risk | Revenue | Student Housing
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	18.00%
Business segment concentration risk | Revenue | Office Buildings
Geographic, Asset Type and Industry Concentration
Concentration risk (percent)	9.00%
Consolidated Properties [Member]
Accounts Receivable
Accounts Receivable, Net, Current	2,000,000	3,000,000
Advisor
Organization and Offering Expenses
Organization and offering expense receivables net of other payables			3,800,000
Other payables to related parties			500,000
Lease Intangibles
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Cost	4,551,000	8,102,000
Less: depreciation and amortization	-2,701,000	-6,282,000
Net	1,850,000	1,820,000
Assets associated with real estate held for sale	200,000
Acquired Below-Market Leases
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Cost	-469,000	-768,000
Less: depreciation and amortization	259,000	444,000
Net	-210,000	-324,000
Assets associated with real estate held for sale	100,000
Hotels
Real Estate
Estimated useful lives	39 years
Furniture, Fixtures, and Equipment
Estimated useful lives	39 years
Buildings and Improvements
Real Estate
Estimated useful lives	25 years
Real estate
Cost	252,812,000	241,881,000
Less: depreciation and amortization	-24,162,000	-22,358,000
Total real estate	228,650,000	219,523,000
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Assets associated with real estate held for sale	9,600,000
Furniture, Fixtures, and Equipment
Estimated useful lives	25 years
Land and Improvements
Real estate
Cost	62,447,000	66,828,000
Less: depreciation and amortization	-2,073,000	-1,421,000
Total real estate	60,374,000	65,407,000
Accumulated depreciation and amortization related to consolidated investments in real estate intangibles
Assets associated with real estate held for sale	3,200,000
Furniture, Fixtures and Equipment
Furniture, Fixtures, and Equipment
Accumulated depreciation associated with furniture, fixtures, and equipment	$6,400,000	$4,200,000
Furniture, Fixtures and Equipment | Maximum
Real Estate
Estimated useful lives	7 years
Furniture, Fixtures, and Equipment
Estimated useful lives	7 years
Furniture, Fixtures and Equipment | Minimum
Real Estate
Estimated useful lives	5 years
Furniture, Fixtures, and Equipment
Estimated useful lives	5 years

Assets_and_Liabilities_Measure2

Assets and Liabilities Measured at Fair Value (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Assets
Derivative financial instruments	$100	$200
Recurring
Assets
Derivative financial instruments	28	174
Recurring | Level 2
Assets
Derivative financial instruments	$28	$174

Financial_Instruments_not_Repo1

Financial Instruments not Reported at Fair Value (Details) (USD $)	Dec. 31, 2014	Dec. 31, 2013
Debt Instrument [Line Items]
Notes payable	$216,294,000	$212,037,000
Real Estate Held-for-sale	9,212,000	0
Fair value of notes payable	217,100,000	207,800,000
Notes payable
Debt Instrument [Line Items]
Notes payable	216,294,000	212,037,000
Real Estate Held-for-sale	$9,100,000

Real_Estate_and_Real_EstateRel2

Real Estate and Real Estate-Related Investments (Details) (USD $)

3 Months Ended

12 Months Ended

0 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

Oct. 10, 2014

Oct. 20, 2010

Oct. 08, 2010

real_estate_investment

real_estate_investment

building

building

Real Estate and Real Estate-Related Investments

Number of real estate assets consolidated

12

12

Amounts recognized for revenues, acquisition expenses and net loss

Revenue

$12,968,000

$11,357,000

$12,027,000

$12,245,000

$11,831,000

$11,596,000

$10,493,000

$9,469,000

$48,597,000

$43,389,000

$32,718,000

Net loss

-334,000

13,606,000

9,227,000

Pro forma information

Revenue

52,840,000

47,665,000

Depreciation and amortization

-16,334,000

-17,813,000

Net income (loss)

-263,000

5,605,000

Net income per share (in dollars per share)

($0.01)

$0.22

Lakewood Flats | 7425 La Vista, LLC

Real Estate and Real Estate-Related Investments

Number of units

435

Business combination, purchase price

60,500,000

Payment for business combination

27,000,000

Business combination, consideration transferred, liabilities incurred

33,500,000

Lakewood Flats | 7425 La Vista, LLC | London Interbank Offered Rate (LIBOR) [Member]

Real Estate and Real Estate-Related Investments

Debt instrument, basis spread on variable rate, term

30 days

Variable interest rate (as a percent)

1.50%

Holstenplatz

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

100.00%

Gardens Medical Pavilion

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

79.80%

Ownership interest through joint venture (as a percent)

79.80%

Courtyard Kauai Coconut Beach Hotel

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

80.00%

Variable interest rate (as a percent)

0.95%

River Club and the Townhomes at River Club

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

85.00%

Babcock Self Storage

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

85.00%

Lakes of Margate

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

92.50%

Arbors Harbor Town

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

94.00%

Alte Jakobstrabe

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

99.70%

Wimberly at Deerwood

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

95.00%

Variable interest rate (as a percent)

2.28%

22 Exchange

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

90.00%

Parkside Apartments

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

90.00%

Lakewood Flats

Real Estate and Real Estate-Related Investments

Ownership Interest (as a percent)

100.00%

Variable interest rate (as a percent)

1.50%

Florida MOB Portfolio

Real Estate and Real Estate-Related Investments

Number of properties

9

8

Wimberly, 22 Exchange

Amounts of identified assets acquired at acquisition date

Buildings and improvements

49,703,000

49,703,000

Land and land improvements

8,196,000

8,196,000

Lease intangibles, net

1,529,000

1,529,000

Furniture, fixtures and equipment

1,072,000

1,072,000

Total identifiable net assets

60,500,000

60,500,000

Amounts recognized for revenues, acquisition expenses and net loss

Revenue

1,385,000,000

Acquisition expenses with unaffiliated third party

185,000,000

185,000,000

Net loss

($474,000,000)

1875 Lawrence

Real Estate and Real Estate-Related Investments

Variable interest rate (as a percent)

5.35%

Real_Estate_and_Real_EstateRea

Real Estate and Real Estate-Real Estate Asset Disposition (Details) (USD $)	3 Months Ended		12 Months Ended			0 Months Ended
	Sep. 30, 2013	Jun. 30, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	30-May-14
Real Estate Properties [Line Items]
Gain on sale of real estate	$17,100,000	$14,500,000	$11,454,000	$0	$0
Loss on early extinguishment of debt			-454,000	-265,000	-1,905,000
Net income (loss) attributable to the Company			-3,000	8,729,000	1,665,000
1875 Lawrence
Real Estate Properties [Line Items]
Contract sales price, real estate						46,700,000
Gain on sale of real estate						11,500,000
Loss on early extinguishment of debt						-500,000
Repayments of long-term debt						15,600,000
Ownership Interest (percent)						100.00%
Net Cash Proceeds						46,300,000
Net income (loss) attributable to the Company			9,900,000	-2,100,000	-1,500,000
1875 Lawrence | Write-off of deferred financing fees
Real Estate Properties [Line Items]
Loss on early extinguishment of debt						-400,000
1875 Lawrence | Early termination fee
Real Estate Properties [Line Items]
Loss on early extinguishment of debt						($100,000)

Real_Estate_Held_for_Sale_Deta

Real Estate Held for Sale (Details)	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2011	Jan. 08, 2015	Feb. 20, 2015	Feb. 20, 2015
	USD ($)	USD ($)	Babcock Self Storage San Antonio [Member]	Babcock Self Storage San Antonio [Member]	Alte Jakobstrabe Berlin [Member]	Alte Jakobstrabe Berlin [Member]
			unit	Subsequent event	Subsequent event	Subsequent event
				USD ($)	USD ($)	EUR (€)
Long Lived Assets Held-for-sale [Line Items]
Number of units			537
Sale price of property held for sale				$5,400,000	$14,100,000	€ 12,400,000
Real Estate Held for Sale
Land and improvements, net	3,195,000
Building and improvements, net	9,581,000
Lease intangibles, net	175,000
Assets associated with real estate held for sale	12,951,000	0
Notes payable	9,122,000
Other	90,000
Obligations associated with real estate held for sale	$9,212,000

Investment_in_Unconsolidated_J2

Investment in Unconsolidated Joint Venture (Details) (USD $)	12 Months Ended			0 Months Ended		12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	5-May-14	24-May-13	5-May-14
Schedule of Equity Method Investments [Line Items]
Capitalized interest costs	$500,000	$300,000	$100,000
Restricted cash	4,199,000	5,343,000
Prospect Park
Schedule of Equity Method Investments [Line Items]
Mezzanine financing to unaffiliated third party Entity					13,700,000
Amount of senior construction loan taken by unconsolidated joint venture					35,600,000
Annual interest rate for first three years of mezzanine loan (percent)				18.00%	10.00%
Period for which annual interest rate will be 10% of mezzanine loan					3 years
Number of extensions of term of mezzanine loan at option of borrower					2
Extension term, mezzanine loan at option of borrower					1 year
Annual interest rate after two extensions of mezzanine loan					14.00%
Construction cost overruns						6,600,000
Loans receivable, commercial construction				15,300,000		15,300,000
Increase to maximum borrowing capacity, loan receivable				1,500,000		1,500,000
Mezzanine loan, outstanding balance	15,300,000
Capitalized acquisition-related costs and fees		400,000
Capitalized interest costs	500,000	300,000
Carrying Amount	13,973,000
Restricted cash		2,000,000
Proceeds from distributions received		2,400,000
Prospect Park | Senior lender
Schedule of Equity Method Investments [Line Items]
Loans receivable, commercial construction				40,000,000		40,000,000
Increase to maximum borrowing capacity, loan receivable				$4,400,000		$4,400,000

Notes_Payable_Details

Notes Payable (Details) (USD $)	12 Months Ended			0 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 10, 2014	30-May-14
Debt Instrument [Line Items]
Notes payable	$216,294,000	$212,037,000
Variable rate (as a percent)	0.16%
Unamortized premium	574,000
Real Estate Held-for-sale	9,212,000	0
Capitalized interest costs	500,000	300,000	100,000
7425 La Vista, LLC | Lakewood Flats
Debt Instrument [Line Items]
Business combination, consideration transferred, liabilities incurred				33,500,000
Notes payable
Debt Instrument [Line Items]
Notes payable	216,294,000	212,037,000
Real Estate Held-for-sale	9,100,000
Notes payable, related to real estate held for sale
Debt Instrument [Line Items]
Notes payable	9,122,000
Notes Payable, including obligations for real estate assets held-for-sale
Debt Instrument [Line Items]
Notes payable	225,416,000
1875 Lawrence
Debt Instrument [Line Items]
Variable rate basis, description	30-day LIBOR
Variable interest rate (as a percent)	5.35%
Repayments of long-term debt					15,600,000
1875 Lawrence | Notes payable
Debt Instrument [Line Items]
Notes payable	0	15,621,000
Holstenplatz | Notes payable
Debt Instrument [Line Items]
Notes payable	9,125,000	10,581,000
Interest rate (as a percent)	3.89%
Courtyard Kauai at Coconut Beach Hotel
Debt Instrument [Line Items]
Variable rate basis, description	30-day LIBOR
Variable interest rate (as a percent)	0.95%
Courtyard Kauai at Coconut Beach Hotel | Notes payable
Debt Instrument [Line Items]
Notes payable	38,000,000	38,000,000
Debt instrument, renewal option, term	18 months
Florida MOB Portfolio - Gardens Medical Pavilion | Notes payable
Debt Instrument [Line Items]
Notes payable	13,678,000	14,040,000
Interest rate (as a percent)	4.90%
River Club and the Townhomes at River Club (formerly referred to as the UGA Portfolio) | Notes payable
Debt Instrument [Line Items]
Notes payable	24,664,000	25,010,000
Interest rate (as a percent)	5.26%
Babcock Self Storage
Debt Instrument [Line Items]
Notes payable		2,182,000
Interest rate (as a percent)	5.80%
Babcock Self Storage | Notes payable, related to real estate held for sale
Debt Instrument [Line Items]
Notes payable	2,137,000
Interest rate (as a percent)	5.80%
Lakes of Margate
Debt Instrument [Line Items]
Minimum interest rate (as a percent)	5.49%
Maximum interest rate (as a percent)	5.92%
Lakes of Margate | Notes payable
Debt Instrument [Line Items]
Notes payable	14,723,000	14,966,000
Arbors Harbor Town | Notes payable
Debt Instrument [Line Items]
Notes payable	25,591,000	26,000,000
Interest rate (as a percent)	3.99%
Alte Jakobstrabe
Debt Instrument [Line Items]
Notes payable		8,275,000
Interest rate (as a percent)	2.30%
Alte Jakobstrabe | Notes payable, related to real estate held for sale
Debt Instrument [Line Items]
Notes payable	6,985,000
Interest rate (as a percent)	2.30%
Wimberly at Deerwood
Debt Instrument [Line Items]
Variable rate basis, description	30-day LIBOR
Variable interest rate (as a percent)	2.28%
Wimberly at Deerwood | Notes payable
Debt Instrument [Line Items]
Notes payable	26,685,000	26,685,000
22 Exchange | Notes payable
Debt Instrument [Line Items]
Notes payable	19,500,000	19,500,000
Interest rate (as a percent)	3.93%
Parkside | Notes payable
Debt Instrument [Line Items]
Notes payable	10,828,000	11,177,000
Interest rate (as a percent)	5.00%
Unamortized premium	600,000
Lakewood Flats
Debt Instrument [Line Items]
Variable rate basis, description	30-day LIBOR
Variable interest rate (as a percent)	1.50%
Lakewood Flats | Notes payable
Debt Instrument [Line Items]
Notes payable	$33,500,000	$0

Notes_Payable_Details_2

Notes Payable (Details 2) (USD $)	Dec. 31, 2014	Dec. 31, 2013
In Thousands, unless otherwise specified
Contractual obligations for principal payments
2015	$49,195
2016	2,448
2017	2,671
2018	47,400
2019	58,346
Thereafter	55,660
Total contractual obligations for principal payments	215,720
Unamortized premium	574
Total notes payable	216,294	212,037
Notes payable
Contractual obligations for principal payments
Total notes payable	216,294	212,037
Notes payable, related to real estate held for sale
Contractual obligations for principal payments
Total notes payable	$9,122

Leasing_Activity_Details

Leasing Activity (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014
Future minimum base rental payments due to entity under non-cancelable leases
2014	$2,603
2015	2,449
2016	1,969
2017	1,575
2018	1,126
Thereafter	4,651
Total	$14,373
Maximum lease term	1 year

Derivative_Instruments_and_Hed2

Derivative Instruments and Hedging Activities (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Oct. 15, 2014	Oct. 15, 2015
Derivative Instruments and Hedging Activities
Derivative assets (less than, 2014)	$100,000	$200,000
Derivatives Not Designated as Hedging Instruments, Amount of Gain or (Loss)	-215,000	-94,000	0
Not designated as hedging instrument
Derivative Instruments and Hedging Activities
Derivatives Not Designated as Hedging Instruments, Amount of Gain or (Loss)	215,000	94,000
Not designated as hedging instrument | Interest rate contract | Prepaid expenses and other assets
Derivative Instruments and Hedging Activities
Interest rate derivative contract, fair value	28,000	174,000
Courtyard Kauai at Coconut Beach Hotel
Derivative Instruments and Hedging Activities
Variable rate basis, description	30-day LIBOR
Courtyard Kauai at Coconut Beach Hotel | Not designated as hedging instrument | Interest rate cap
Derivative Instruments and Hedging Activities
Notional Value	38,000,000
Interest Rate/ Strike Rate (as a percent)	3.00%
Variable rate basis, description	30-day LIBOR
Notional amount, derivative				38,000,000
Derivative, cap rate (percent)				3.00%
1875 Lawrence
Derivative Instruments and Hedging Activities
Variable rate basis, description	30-day LIBOR
Wimberly
Derivative Instruments and Hedging Activities
Variable rate basis, description	30-day LIBOR
Wimberly | Not designated as hedging instrument | Interest rate cap
Derivative Instruments and Hedging Activities
Notional Value	26,685,000
Interest Rate/ Strike Rate (as a percent)	4.56%
Variable rate basis, description	30-day LIBOR
Interest expense
Derivative Instruments and Hedging Activities
Reclassification of unrealized loss to interest expense (less than, 2014)	$100,000	$100,000
Forecast | Courtyard Kauai at Coconut Beach Hotel | Not designated as hedging instrument | Interest rate cap
Derivative Instruments and Hedging Activities
Derivative, cap rate (percent)					5.00%

Commitments_and_Contingencies_

Commitments and Contingencies (Details) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
	building
Loss Contingencies [Line Items]
Federal taxable income	$5,500,000
Distributions paid	13,000,000
Net operating loss carryforwards	13,100,000
Accrued current tax expense	0	183,000
Amount tax basis of fixed assets exceeds book value	17,200,000
Number of buildings acquired in connection with purchase of MOB Portfolio	8
Term of ground lease	50 years
Extended term of ground lease	25 years
Percentage increase in annual payment for each ground lease	10.00%
Number of years for which annual payment for each ground lease increases	5 years
Ground leases		200,000	300,000
Taxable REIT subsidiaries
Loss Contingencies [Line Items]
Net operating loss carryforwards	4,500,000
Alternative Minimum Tax (AMT)
Loss Contingencies [Line Items]
Accrued current tax expense	$100,000	$200,000

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	0 Months Ended		4 Months Ended	8 Months Ended	12 Months Ended	34 Months Ended
	Aug. 09, 2014	Mar. 20, 2012	14-May-14	Dec. 31, 2014	Dec. 31, 2014	Mar. 31, 2012	Nov. 21, 2014	Dec. 31, 2013
Stockholders' Equity
Common stock, shares authorized				350,000,000	350,000,000			350,000,000
Preferred stock, shares authorized				50,000,000	50,000,000			50,000,000
Convertible stock, shares authorized				1,000	1,000			1,000
Common stock, par value (in dollars per share)				$0.00	$0.00			$0.00
Convertible stock, par value (in dollars per share)				$0.00	$0.00			$0.00
Number of shares of common stock issued				26,700,000	26,700,000
Common stock, shares outstanding				25,801,669	25,801,669			26,015,980
Shares issued through distribution reinvestment				2,200,000	2,200,000
Common stock redeemed (in shares)					900,000
Convertible stock, shares outstanding				1,000	1,000			1,000
Share price, estimated fair value							$9.72
Share redemption program, annual limitation, percentage of weighted average shares outstanding					5.00%
Share repurchase program, cash available for redemption			$1,000,000	$10,000,000	$10,000,000
Special distributions declared on common stock, per share	$0.50	$0.50
Cash distribution, paid					$13,000,000
Declared daily distribution rate of common stock						$0.00
Annualized distribution rate						5.00%
Share price						$10
Minimum
Stockholders' Equity
Share redemption program, redemption price, percentage of share price, per share							80.00%
Stock repurchase program period of notice to be provided to stockholders for application of new redemption price					30 days
Maximum
Stockholders' Equity
Share redemption program, redemption price, percentage of share price, per share							90.00%
Convertible Stock
Stockholders' Equity
Convertible stock, par value (in dollars per share)				$0.00	$0.00
Cumulative, non-compounded, annual return on the issue price of outstanding shares added to total distributions on shares outstanding for determination of automatic conversion of convertible stock (as a percent)					10.00%
Average period considered for determination of aggregate market value of common stock					30 days
Percentage of excess of enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of common stock over aggregate issue price of outstanding shares, alternative one					20.00%
Cumulative, non-compounded, annual return on issue price added to certain specified amount for determination of conversion value of convertible stock, alternative one (as a percent)					10.00%
Percentage of excess of enterprise value plus the aggregate value of distributions paid to date on then outstanding shares of common stock over aggregate issue price of outstanding shares, alternative two					15.00%
Cumulative, non-compounded, annual return on issue price added to certain specified amount for determination of conversion value of convertible stock, alternative two (as a percent)					6.00%
Affiliated entity
Stockholders' Equity
Common stock, shares outstanding				22,471	22,471
Convertible stock, shares outstanding				1,000	1,000

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	1 Months Ended	12 Months Ended
	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Related party transaction
Reimbursement of organization and offering expenses as a percentage of gross proceeds raised in primary component of offerings				1.50%
Organization and offering expenses, receivable				$3,800,000
Proceeds from Collection of Related Party Receivable	3,800,000
Asset management fees incurred		2,368,000	3,478,000	3,097,000
Behringer Securities LP
Related party transaction
Reallowance of selling commissions earned to participating broker Dealers (as a percent)				100.00%
Payment of selling commissions, dealer manager fees or organization and offering expenses for sales under the DRP				0
Reduction in selling commissions included in additional paid-in capital				400,000
Reduction in dealer manager fees included in additional paid-in capital				200,000
Behringer Securities LP | Maximum
Related party transaction
Commissions as percentage of gross offering proceeds				7.00%
Manager fee as percentage of gross offering proceeds				2.50%
Manager fee as percentage of gross offering proceeds to broker dealers participating in offerings				2.00%
Advisor
Related party transaction
Organization and offering expenses, receivable				3,800,000
Other payables to related parties				500,000
Acquisition and advisory fees as percentage of purchase, development, construction, or improvement of each asset acquired		1.50%
Acquisition and advisory fees as percentage of funds advanced in respect of loan or other investment		1.50%
Acquisition and advisory fees incurred		1,000,000	2,300,000	500,000
Percentage of debt financing fee payable under loan or line of credit		0.50%	1.00%
Debt financing fee payable under loan or line of credit		200,000	500,000	300,000
Development fee paid to advisor or its affiliates		0	0	0
Construction management fees		100,000	100,000	0
Oversight fee as percentage of gross revenues of property managed		0.50%
Asset management fees incurred		2,200,000	3,400,000	3,000,000
Administrative services cost incurred and expensed		1,775,000	1,751,000	1,574,000
Asset Management Fee, Percentage		0.70%	1.00%
Debt Instrument, Decrease, Forgiveness		300,000
Administrative Services Costs, Real Estate Management		1,775,000
Administrative Service Costs, Number of Installment Payments		4
Payment of Administrative Service Costs, Maximum Period		45 days
Advisor | Maximum
Related party transaction
Percentage of gross proceeds raised for remittance to Advisor for organization and offering expenses				1.50%
Reimbursement of acquisition expense		200,000	200,000	100,000
Behringer Harvard Opportunity II Management Services, LLC
Related party transaction
Construction management fees, percentage		5.00%
Property management fees as percentage of gross revenues of properties		4.00%	4.50%
Property management fees or oversight fees incurred		$600,000	$900,000	$1,200,000
Non reimbursement of operating expenses in excess of net income (as a percent)		25.00%
Behringer Harvard Opportunity II Management Services, LLC | Minimum
Related party transaction
Acquisition and advisory fees as percentage of funds advanced in respect of loan or other investment		2.50%
Non reimbursement of operating expenses in excess of average invested assets (as a percent)		2.00%
Asset Purchases [Member] | Advisor
Related party transaction
Percentage of reimbursement of acquisition expense		0.25%
Development, Construction or Improvement of Assets [Member] | Advisor
Related party transaction
Percentage of reimbursement of acquisition expense		0.25%
Funds Advanced for Loan Investment [Member] | Advisor
Related party transaction
Percentage of reimbursement of acquisition expense		0.25%

Supplemental_Cash_Flow_Informa2

Supplemental Cash Flow Information (Details) (USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Supplemental Cash Flow Information [Abstract]
Interest paid, net of amounts capitalized	$7,443	$7,765	$13,049
Income Taxes Paid	0	0	0
Non-cash investing activities and financing activities:
Capital expenditures for real estate in accounts payable	0	20	17
Capital expenditures for real estate in accrued liabilities	237	539	864
Assumed debt on acquisition of real estate investment	0	11,306	0
Assumed debt on disposition of real estate investment	0	17,983	0
Common stock issued in distribution reinvestment plan	0	0	2,790
Accrued distributions to noncontrolling interest	$19	$20	$0

Discontinued_Operations_and_Re2

Discontinued Operations and Real Estate Held for Sale (Details) (USD $)	3 Months Ended				12 Months Ended			0 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Apr. 12, 2013	Oct. 18, 2012	Jan. 05, 2012	Oct. 31, 2013	Oct. 18, 2013	Sep. 20, 2013
								building	building
Discontinued Operations
Rental revenue						$8,637,000	$17,655,000
Expenses:
Property operating expenses						4,141,000	7,716,000
Interest expense						983,000	6,824,000
Real estate taxes						597,000	2,216,000
Property management fees						401,000	727,000
Asset management fees						50,000	185,000
Depreciation and amortization						2,603,000	5,442,000
Total expenses						8,775,000	23,110,000
Loss on early extinguishment of debt						-265,000	-1,906,000
Interest income, net						4,000	15,000
Loss from discontinued operations						-399,000	-7,346,000
Gain on sale of real estate property						31,558,000	29,358,000
Income from discontinued operations	25,000	16,952,000	14,292,000	-110,000	0	31,159,000	22,012,000
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Noncontrolling Interest					0	-5,454,000	-8,352,000
Income (Loss) from Discontinued Operations, Net of Tax, Attributable to Parent					0	25,705,000	13,660,000
Capital expenditures						1,250,000	178,000
Write-off of deferred financing fees						100,000	1,000,000
Early termination fees						200,000	900,000
Palms of Monterrey
Discontinued Operations
Sale price of discontinued operation										0
Parrot's Landing
Discontinued Operations
Sale price of discontinued operation											0
Interchange Business Center
Discontinued Operations
Sale price of discontinued operation								0				0
Number of industrial buildings sold								3	1
Number of industrial buildings									4
Original Florida MOB Portfolio
Discontinued Operations
Sale price of discontinued operation													$0
Gardens Medical Pavilion
Discontinued Operations
Ownership interest through joint venture (as a percent)					79.80%

Quarterly_Results_Unaudited_De

Quarterly Results (Unaudited) (Details) (USD $)	3 Months Ended								12 Months Ended			0 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	30-May-14
Gain on sale of real estate						$17,100	$14,500		$11,454	$0	$0
Revenue	12,968	11,357	12,027	12,245	11,831	11,596	10,493	9,469	48,597	43,389	32,718
Loss from continuing operations	-3,866	-2,644	9,025	-2,849	-3,828	-4,602	-4,719	-4,404	-334	-17,553	-12,785
Income (loss) from discontinued operations including gains on dispositions					25	16,952	14,292	-110	0	31,159	22,012
Add : Net (income)/loss attributable to the noncontrolling interest	53	154	159	-35	10	-1,510	-3,559	182	331	-4,877	-7,562
Net income (loss) attributable to common shareholders	-3,813	-2,490	9,184	-2,884	-3,793	10,840	6,014	-4,332
Basic and diluted weighted average shares outstanding	25,836	25,935	25,993	26,011	26,017	26,032	26,039	26,054	25,943	26,035	25,987
Basic and diluted income (loss) per share (in dollars per share)	($0.14)	($0.10)	$0.35	($0.11)	($0.14)	$0.42	$0.23	($0.17)	$0	$0.34	$0.06
Lawrence 1875 Denver [Member]
Gain on sale of real estate												$11,500

Subsequent_Events_Details

Subsequent Events (Details)	12 Months Ended			0 Months Ended	3 Months Ended	0 Months Ended
In Millions, except Share data, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012	Mar. 18, 2015	Mar. 31, 2015	Jan. 08, 2015	Feb. 20, 2015	Feb. 20, 2015
	USD ($)	USD ($)	USD ($)	Subsequent event	Subsequent event	Subsequent event	Subsequent event	Subsequent event
				USD ($)	USD ($)	Babcock Self Storage	Alte Jakobstrabe	Alte Jakobstrabe
						USD ($)	USD ($)	EUR (€)
Subsequent Event [Line Items]
Sale price of property held for sale						$5.40	$14.10	€ 12.40
Repayment of debt following sale of assets held for sale						2.1	6.5	5.7
Special cash distribution				25.7
Special distribution (in dollars per share)	$0.50	$0	$0.63		$1
Stock approved for redemption (shares)					69,365
Stock approved for redemption, amount					$0.50

Valuation_and_Qualifying_Accou1

Valuation and Qualifying Accounts and Reserves Schedule II (Details) (Allowance for doubtful accounts, USD $)	12 Months Ended
In Thousands, unless otherwise specified	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Allowance for doubtful accounts
Change in valuation and qualifying accounts and reserves
Balance at Beginning of period	$46	$44	$29
Charged to Costs and Expenses	304	313	391
Deductions	348	311	376
Balance at End of period	$2	$46	$44

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
Real Estate and Accumulated Depreciation
Encumbrances	$225,416,000
Initial cost, Land and Improvements	64,777,000
Initial cost, Building and Improvements	237,734,000
Costs capitalized subsequent to acquisition	27,132,000
Gross amount carried at close of period	329,643,000	308,808,000	294,054,000	317,395,000
Accumulated depreciation	27,569,000	23,779,000	19,921,000	11,489,000
Real Estate Foreign Currency Translation Gain (Loss)	3,000,000	1,000,000	300,000
Real Estate Reclassification from Improvements to Furniture, Fixtures and Equipment	700,000	300,000	1,400,000
Real Estate Held for Sale
Real Estate and Accumulated Depreciation
Encumbrances	9,122,000
Initial cost, Land and Improvements	3,414,000
Initial cost, Building and Improvements	10,976,000
Costs capitalized subsequent to acquisition	-280,000
Gross amount carried at close of period	14,110,000
Accumulated depreciation	1,334,000
Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	216,294,000
Initial cost, Land and Improvements	61,363,000
Initial cost, Building and Improvements	226,758,000
Costs capitalized subsequent to acquisition	27,412,000
Gross amount carried at close of period	315,533,000
Accumulated depreciation	26,235,000
1875 Lawrence
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Holstenplatz
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Holstenplatz | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	9,125,000
Initial cost, Land and Improvements	2,867,000
Initial cost, Building and Improvements	9,363,000
Costs capitalized subsequent to acquisition	-162,000
Gross amount carried at close of period	12,068,000
Accumulated depreciation	1,792,000
Gardens Medical Pavilion
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Gardens Medical Pavilion | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	13,678,000
Initial cost, Land and Improvements	5,675,000
Initial cost, Building and Improvements	13,158,000
Costs capitalized subsequent to acquisition	3,655,000
Gross amount carried at close of period	22,488,000
Accumulated depreciation	3,031,000
Courtyard Kauai Coconut Beach Hotel
Real Estate and Accumulated Depreciation
Depreciable life	39 years
Courtyard Kauai Coconut Beach Hotel | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	38,000,000
Initial cost, Land and Improvements	11,801,000
Initial cost, Building and Improvements	20,948,000
Costs capitalized subsequent to acquisition	10,219,000
Gross amount carried at close of period	42,968,000
Accumulated depreciation	4,023,000
River Club and the Townhomes at River Club
Real Estate and Accumulated Depreciation
Depreciable life	25 years
River Club and the Townhomes at River Club | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	24,664,000
Initial cost, Land and Improvements	6,639,000
Initial cost, Building and Improvements	24,789,000
Costs capitalized subsequent to acquisition	1,509,000
Gross amount carried at close of period	32,937,000
Accumulated depreciation	5,112,000
Babcock Self Storage
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Babcock Self Storage | Real Estate Held for Sale
Real Estate and Accumulated Depreciation
Encumbrances	2,137,000
Initial cost, Land and Improvements	1,047,000
Initial cost, Building and Improvements	2,453,000
Costs capitalized subsequent to acquisition	56,000
Gross amount carried at close of period	3,556,000
Accumulated depreciation	383,000
Lakes of Margate
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Lakes of Margate | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	14,723,000
Initial cost, Land and Improvements	9,776,000
Initial cost, Building and Improvements	13,061,000
Costs capitalized subsequent to acquisition	3,940,000
Gross amount carried at close of period	26,777,000
Accumulated depreciation	2,794,000
Arbors Harbor Town
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Arbors Harbor Town | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	25,591,000
Initial cost, Land and Improvements	5,413,000
Initial cost, Building and Improvements	24,713,000
Costs capitalized subsequent to acquisition	2,615,000
Gross amount carried at close of period	32,741,000
Accumulated depreciation	3,781,000
Alte Jakobstrabe
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Alte Jakobstrabe | Real Estate Held for Sale
Real Estate and Accumulated Depreciation
Encumbrances	6,985,000
Initial cost, Land and Improvements	2,367,000
Initial cost, Building and Improvements	8,523,000
Costs capitalized subsequent to acquisition	-336,000
Gross amount carried at close of period	10,554,000
Accumulated depreciation	951,000
Wimberly at Deerwood
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Wimberly at Deerwood | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	26,685,000
Initial cost, Land and Improvements	5,473,000
Initial cost, Building and Improvements	28,089,000
Costs capitalized subsequent to acquisition	2,976,000
Gross amount carried at close of period	36,538,000
Accumulated depreciation	2,534,000
22 Exchange
Real Estate and Accumulated Depreciation
Depreciable life	25 years
22 Exchange | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	19,500,000
Initial cost, Land and Improvements	2,380,000
Initial cost, Building and Improvements	24,786,000
Costs capitalized subsequent to acquisition	1,846,000
Gross amount carried at close of period	29,012,000
Accumulated depreciation	1,769,000
Parkside Apartments
Real Estate and Accumulated Depreciation
Depreciable life	25 years
Parkside Apartments | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	10,828,000
Initial cost, Land and Improvements	3,143,000
Initial cost, Building and Improvements	18,148,000
Costs capitalized subsequent to acquisition	807,000
Gross amount carried at close of period	22,098,000
Accumulated depreciation	1,050,000
Lakewood Flats | Real Estate Investments
Real Estate and Accumulated Depreciation
Encumbrances	33,500,000
Initial cost, Land and Improvements	8,196,000
Initial cost, Building and Improvements	49,703,000
Costs capitalized subsequent to acquisition	7,000
Gross amount carried at close of period	57,906,000
Accumulated depreciation	$349,000

Real_Estate_and_Accumulated_De2

Real Estate and Accumulated Depreciation Schedule III (Details 2) (USD $)	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2013	Dec. 31, 2012
Real Estate:
Balance at beginning of period	$308,808,000	$294,054,000	$317,395,000
Acquisitions	57,899,000	82,019,000	10,890,000
Improvements	4,477,000	8,227,000	12,365,000
Disposals/written-off	-19,000	-75,000	0
Reclassification	-689,000	-254,000	-1,406,000
Cost of real estate sold	-40,833,000	-75,163,000	-45,190,000
Balance at end of the period	329,643,000	308,808,000	294,054,000
Accumulated depreciation:
Balance at beginning of period	23,779,000	19,921,000	11,489,000
Depreciation expense	11,077,000	11,855,000	11,227,000
Disposals/written-off	-7,287,000	-7,997,000	-2,795,000
Balance at end of the period	27,569,000	23,779,000	19,921,000
Foreign currency translation gain (loss)	3,000,000	1,000,000	300,000
Reclassification from improvements to furniture, fixtures and equipment	$700,000	$300,000	$1,400,000