Bluerock Residential Growth REIT (BRG) 10-K 14 Feb 14 2013 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Dec. 31, 2013	Feb. 07, 2014	Jun. 30, 2013
Document Information [Line Items]	'	'	'
Entity Registrant Name	'Bluerock Residential Growth REIT, Inc.	'	'
Entity Central Index Key	'0001442626	'	'
Current Fiscal Year End Date	'--12-31	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Trading Symbol	'CIK0001442626	'	'
Entity Common Stock, Shares Outstanding	'	2,413,811	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	31-Dec-13	'	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2013	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Current Reporting Status	'Yes	'	'
Entity Public Float	'	'	$0

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Dec. 31, 2013	Dec. 31, 2012
Real Estate	'	'
Land	$21,000,000	$27,670,000
Building and improvements	83,498,339	117,634,275
Construction in progress	16,695,988	0
Furniture, fixtures and equipment	2,033,859	2,436,135
Total Gross Operating Real Estate Investments	123,228,186	147,740,410
Accumulated depreciation	-3,680,868	-1,150,477
Total Net Operating Real Estate	119,547,318	146,589,933
Operating real estate held for sale, net	43,458,027	0
Total Net Real Estate Investments	163,005,345	146,589,933
Cash and cash equivalents	2,983,785	2,789,163
Restricted cash	1,615,609	2,290,387
Due from affiliates	511,472	5,024
Accounts receivable, prepaids and other assets	1,265,549	547,600
Investments in unconsolidated real estate joint ventures (Note 5)	1,254,307	2,398,902
In-place leases, net	0	1,195,490
Deferred financing costs, net	437,240	814,932
Assets related to real estate held for sale	1,452,785	0
Total Assets	172,526,092	156,631,431
LIABILITIES AND STOCKHOLDERS’ EQUITY	'	'
Mortgage payable (Note 7)	79,034,338	96,099,690
Line of credit (Note 8)	7,571,223	11,935,830
Accounts payable	2,397,495	747,339
Other accrued liabilities	2,115,496	2,412,376
Due to affiliates	1,954,208	1,822,567
Distributions payable	143,463	129,656
Liabilities related to real estate held for sale	33,227,650	0
Total Liabilities	126,443,873	113,147,458
Commitments and contingencies (Note 12)	'	'
Redeemable common stock	0	372,581
Stockholders' Equity	'	'
Preferred stock, value	0	0
Common stock, $0.01 par value, 749,999,000 shares authorized; 2,413,811 and 2,219,432 shares issued and outstanding as of December 31, 2013 and December 31, 2012, respectively	24,138	22,194
Additional paid-in-capital, net of costs	21,747,713	16,157,954
Cumulative distributions and net losses	-9,770,468	-5,142,197
Total Stockholders' Equity	12,001,393	11,037,961
Noncontrolling interest	34,080,826	32,073,431
Total Equity	46,082,219	43,111,392
TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY	172,526,092	156,631,431
Nonvoting Convertible Stock [Member]	'	'
Stockholders' Equity	'	'
Preferred stock, value	$10	$10

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] (USD $)	Dec. 31, 2013	Dec. 31, 2012
Common stock, par value (in dollars per share)	$0.01	$0.01
Common stock, shares authorized	749,999,000	749,999,000
Common stock, shares issued	2,413,811	2,219,432
Common stock, shares outstanding	2,413,811	2,219,432
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	250,000,000	250,000,000
Preferred stock, issued	0	0
Preferred stock, outstanding	0	0
Nonvoting Convertible Stock [Member]	'	'
Preferred stock, par value (in dollars per share)	$0.01	$0.01
Preferred stock, shares authorized	1,000	1,000
Preferred stock, issued	1,000	1,000
Preferred stock, outstanding	1,000	1,000

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Revenues	'	'
Net rental income	$8,429,512	$2,136,089
Other	455,234	435,326
Total revenues	8,884,746	2,571,415
Expenses	'	'
Property operating expenses	2,602,150	649,647
Management fees	347,547	91,557
Depreciation and amortization	4,104,689	1,547,781
General and administrative expenses	2,123,260	1,715,675
Asset management and oversight fees to affiliates	361,816	258,257
Real estate taxes and insurance	823,310	241,493
Acquisition costs	191,277	2,154,533
Total expenses	10,554,049	6,658,943
Other operating activities	'	'
Equity in operating (loss) earnings of unconsolidated joint ventures (Note 5)	-102,939	13,435
Operating loss	-1,772,242	-4,074,093
Other (expense) income	'	'
Gain on business combinations	0	10,927,042
Gain on sale of joint venture interests	0	2,014,533
Equity in gain on sale of real estate asset of unconsolidated joint venture	1,604,377	0
Interest expense, net	-3,889,142	-781,359
Total other (expense) income	-2,284,765	12,160,216
Net (loss) income from continuing operations	-4,057,007	8,086,123
Discontinued operations	'	'
Loss on operations of rental property	-356,546	-720,815
Loss from discontinued operations	-356,546	-720,815
Net (loss) income	-4,413,553	7,365,308
Net (loss) income attributable to noncontrolling interest	-1,442,552	3,444,467
Net (loss) income attributable to common shareholders	($2,971,001)	$3,920,841
Earnings (loss) per common share - continuing operations	'	'
Basic Income (Loss) Per Common Share (in dollars per share)	($1.18)	$2.22
Diluted Income (Loss) Per Common Share (in dollars per share)	($1.18)	$2.20
Earnings (loss) per common share - discontinued operations	'	'
Basic Income (Loss) Per Common Share (in dollars per share)	($0.09)	$0.11
Diluted Income (Loss) Per Common Share (in dollars per share)	($0.09)	$0.11
Weighted Average Basic Common Shares Outstanding (in shares)	2,348,849	1,679,778
Weighted Average Diluted Common Shares Outstanding (in shares)	2,348,849	1,696,253

CONSOLIDATED_STATEMENTS_OF_STO

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' (DEFICIT) EQUITY (USD $)	Total	Nonvoting Convertible Stock [Member]	Common Stock [Member]	Additional Paid-in Capital [Member]	Cumulative Distributions [Member]	Net Income (Loss) to Common Stockholders [Member]	Noncontrolling Interests [Member]
Balance at Dec. 31, 2011	($384,885)	$10	$11,140	$7,475,175	($810,088)	($7,061,122)	$0
Balance (in shares) at Dec. 31, 2011	'	1,000	1,113,968	'	'	'	'
Issuance of restricted stock, net	81,250	0	75	81,175	0	0	0
Issuance of restricted stock, net (in shares)	'	0	7,500	'	'	'	'
Issuance of common stock, net	9,067,295	0	11,251	9,056,044	0	0	0
Issuance of common stock, net (in shares)	'	0	1,127,089	'	'	'	'
Redemptions of common stock	0	0	-272	272	0	0	0
Redemptions of common stock (in shares)	'	0	-29,125	'	'	'	'
Transfers to redeemable common stock	-454,712	0	0	-454,712	0	0	0
Distributions declared	-1,191,828	0	0	0	-1,191,828	0	0
Distributions to noncontrolling interests	-398,116	0	0	0	0	0	-398,116
Noncontrolling interests upon acquisition or addition	29,027,080	0	0	0	0	0	29,027,080
Net income (loss)	7,365,308	0	0	0	0	3,920,841	3,444,467
Balance at Dec. 31, 2012	43,111,392	10	22,194	16,157,954	-2,001,916	-3,140,281	32,073,431
Balance (in shares) at Dec. 31, 2012	'	1,000	2,219,432	'	'	'	'
Issuance of restricted stock, net	88,750	0	90	88,660	0	0	0
Issuance of restricted stock, net (in shares)	'	0	9,000	'	'	'	'
Issuance of common stock, net	1,506,405	0	1,952	1,504,453	0	0	0
Issuance of common stock, net (in shares)	'	0	195,379	'	'	'	'
Redemptions of common stock	0	0	-98	98	0	0	0
Redemptions of common stock (in shares)	'	0	-10,000	'	'	'	'
Transfers to redeemable common stock	-441,269	0	0	-441,269	0	0	0
Transfers from redeemable common stock	738,550	0	0	738,550	0	0	0
Gain on partial sale of controlling interests	3,699,267	0	0	3,699,267	0	0	0
Distributions declared	-1,657,270	0	0	0	-1,657,270	0	0
Distributions to noncontrolling interests	-1,153,982	0	0	0	0	0	-1,153,982
Noncontrolling interests upon acquisition or addition	4,603,929	0	0	0	0	0	4,603,929
Net income (loss)	-4,413,553	0	0	0	0	-2,971,001	-1,442,552
Balance at Dec. 31, 2013	$46,082,219	$10	$24,138	$21,747,713	($3,659,186)	($6,111,282)	$34,080,826
Balance (in shares) at Dec. 31, 2013	'	1,000	2,413,811	'	'	'	'

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Cash flows from operating activities:	'	'
Net (loss) income	($4,413,553)	$7,365,308
Adjustments to reconcile net (loss) income to net cash provided by (used in) operating activities:	'	'
Depreciation and amortization	5,812,776	2,836,042
Amortization of fair value adjustment	-725,031	-245,231
Equity loss (income) of unconsolidated joint ventures	102,939	-13,435
Gain on sale of joint venture interests	0	-2,014,533
Equity in gain on sale of real estate asset of unconsolidated joint ventures	-1,604,377	0
Gain on revaluation of equity on business combinations	0	-10,927,042
Distributions from unconsolidated real estate joint ventures	289,329	607,477
Share-based compensation attributable to director’s stock compensation plan	88,750	81,250
Changes in operating assets and liabilities:	'	'
Due to affiliates	-232,532	367,353
Accounts receivable, prepaids and other assets	-1,006,554	249,357
Accounts payable and other accrued liabilities	2,015,017	887,933
Net cash provided by (used in) operating activities	244,264	-2,048,484
Cash flows from investing activities:	'	'
Restricted cash	-209,538	-96,663
Cash acquired in excess of acquisition of consolidated real estate investments	0	-12,417,078
Additions to consolidated real estate investments	-20,773,995	-1,289,149
Proceeds from sale of joint venture interests	4,439,244	2,957,622
Investment in unconsolidated real estate joint ventures	0	-6,457
Net cash used in investing activities	-16,544,289	-10,851,725
Cash flows from financing activities:	'	'
Distributions on common stock	-1,152,639	-695,466
Distributions to noncontrolling interests	-1,153,982	-398,116
Noncontrolling equity interest additions to consolidated real estate investments	1,040,100	'
Proceeds from notes payable	0	0
Repayment on notes payable	0	-3,834,578
Borrowings (repayment) of mortgages payable	15,885,844	-239,434
Borrowings from line of credit	1,159,805	11,935,830
Deferred financing fees	-205,286	-123,618
Issuance of common stock, net	1,019,230	8,895,956
Payments to redeem common stock	-98,425	-271,772
Net cash provided by financing activities	16,494,647	15,268,802
Net increase (decrease) in cash and cash equivalents	194,622	2,368,593
Cash and cash equivalents at beginning of period	2,789,163	420,570
Cash and cash equivalents at end of period	2,983,785	2,789,163
Supplemental Disclosure of Cash Flow Information - Interest Paid	933,487	209,585
Supplemental Disclosure of Noncash Transactions:	'	'
Distributions payable	143,463	129,656
Redemptions payable	0	23,125
Accrued offering costs	954,294	559,818
Distributions to common stockholders through common stock issuances pursuant to the distribution reinvestment plan including no amount and $49,556 declared but not yet reinvested in 2013 and 2012, respectively	441,269	454,712
Receivable for common stock issuances pursuant to the distribution reinvestment plan	0	-49,556
Line of credit and extension fee	175,356	0
Reduction of line of credit balance in exchange for sale of joint venture equity interest	5,524,412	0
Net assets acquired	$0	$26,283,000

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS [Parenthetical] (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Distributions paid to common stockholders, declared but not yet reinvested	$49,556	$49,556

Organization_and_Nature_of_Bus

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Nature of Operations [Text Block]	'
	Note 1 – Organization and Nature of Business
	Bluerock Residential Growth REIT, Inc. (the “Company”), formerly known as Bluerock Multifamily Growth REIT, Inc., was incorporated on July 25, 2008 under the laws of the state of Maryland. The Company has elected to be treated, and currently qualifies, as a real estate investment trust or REIT for Federal income tax purposes. The Company was incorporated to raise capital and acquire a diverse portfolio of residential real estate assets.  The Company’s day-to-day operations are managed by Bluerock Multifamily Advisor, LLC (the “Advisor”), under an advisory agreement (the “Advisory Agreement”).  The Advisory Agreement has a one-year term expiring October 14, 2014, and may be renewed for an unlimited number of successive one-year periods upon the mutual consent of the Advisor and the Company. Substantially all of the Company’s business is conducted through its wholly owned subsidiary and operating partnership, Bluerock Residential Holdings, LP, a Delaware limited partnership (our “Operating Partnership”). Bluerock Real Estate, L.L.C. is the Company’s sponsor (the “Sponsor”).
	On August 22, 2008, the Company filed a registration statement on Form S-11 with the Securities and Exchange Commission (the “SEC”) to offer a maximum of $1,000,000,000 in shares of its common stock in a primary offering, at an offering price of $10.00 per share, with discounts available for certain categories of purchasers and up to $285,000,000 in shares pursuant to its distribution reinvestment plan at $9.50 per share (the “Initial Public Offering”).  The SEC declared the Company’s registration statement effective on October 15, 2009.  As of May 20, 2010, the Company had received gross offering proceeds sufficient to satisfy the minimum offering amount for the Initial Public Offering.  Accordingly, the Company broke escrow with respect to subscriptions received from all states in which the shares were then being offered.  On September 20, 2012, the Company filed a registration statement on Form S-11 with the SEC, to register $500.0 million in shares of its common stock (exclusive of shares to be sold pursuant to the Company’s distribution reinvestment program) at a price of $10.00 per share (subject to certain volume discounts described in the prospectus), and $50.0 million in shares of its common stock to be sold pursuant to the Company’s distribution reinvestment plan at $9.50 per share, pursuant to a follow-on offering to the Initial Public Offering (the “Follow-On Offering,” and together with the Initial Public Offering, the “Prior Public Offerings”). As permitted by Rule 415 under the Securities Act, the Company continued the Initial Public Offering until April 12, 2013, the date the SEC declared the registration statement for the Follow-On Offering effective, which terminated the Company’s Initial Public Offering.   As of April 12, 2013, the Company had accepted aggregate gross offering proceeds in its Initial Public Offering of $22,231,406.
	After consideration by the Company’s Board of Directors of strategic alternatives to enhance the growth of the Company’s  portfolio and the slow rate at which the Company raised funds in its Prior Public Offerings, on August 23, 2013, at the recommendation of the Advisor and following the approval of the Board of Directors, the Company terminated its Follow-On Offering, effective September 9, 2013. As of September 9, 2013, the Company had accepted aggregate gross proceeds in the Follow-On Offering of approximately $330,251 and aggregate gross distribution reinvestment plan proceeds in the Follow-On Offering of approximately $275,848.  As of December 31, 2013, the Company had redeemed a total of 45,850 shares sold in the Initial Public Offering for $433,532.  In conjunction with the termination of the Follow-On Offering, the Company also terminated its dealer manager agreement, effective September 9, 2013.
	On November 27, 2013, subsequent to the termination of the Follow-On Offering, the Company filed a registration statement on Form S-11 (No. 333-192610) with the SEC to sell shares of its Class A common stock in an underwritten public offering, with these shares being immediately listed on a national securities exchange at the closing of the offering. There can be no assurance that the Company will be able to complete the underwritten offering or attendant listing. While the registration statement has been filed with the SEC, it has not yet been declared effective by the SEC. The Class A common stock to be registered pursuant to the registration statement may not be sold nor may offers to buy be accepted prior to the time the registration statement becomes effective. Any disclosure concerning the underwritten offering is neither an offer nor a solicitation to purchase the Company’s securities.
	The Company’s ongoing operating expenses exceed the cash flow received from its investments in real estate joint ventures.  The Company could not rely on raising offering proceeds in the Follow-On Offering to meet its liquidity needs and has a limited amount of cash resources. The Company must seek other sources of funding to address short and long-term liquidity requirements.  The Company anticipated that the sale of its indirect equity investment in The Estates at Perimeter in Augusta, Georgia would generate sufficient cash to support its short-term liquidity requirements; however, the purchaser terminated the membership interest purchase agreement on June 18, 2013. To address short-term liquidity needs, on August 13, 2013, following the approval of the Board of Directors, the Company sold a 10.27% indirect equity interest in the 23Hundred@Berry Hill development project located in Nashville, Tennessee to Bluerock Growth Fund, LLC, an affiliate of the Advisor, with the Company retaining an approximate 53.46% indirect equity interest in the project. The transaction generated proceeds to the Company of approximately $2,000,040, excluding disposition fees of approximately $69,470 deferred by the Advisor.  Further, on August 29, 2013, the Company transferred an additional 28.36% indirect equity interest in the Berry Hill property (the “Additional Berry Hill Interest”) to Bluerock Special Opportunity + Income Fund III, LLC (“SOIF III”), an affiliate of the Advisor, in exchange for a $5,524,412 reduction of the outstanding principal balance of a working capital line of credit provided by Bluerock Special Opportunity + Income Fund II, LLC (“SOIF II”) and SOIF III (the “SOIF LOC”), both of which are affiliates of the Company’s Sponsor, which was based on a third party appraisal, excluding a disposition fee of approximately $191,886 deferred by the Advisor.    If necessary, to meet additional short-term liquidity requirements, the Company may seek to sell assets selectively. The Company can provide no assurances that any such sale or sales will be consummated. The Company will also seek to utilize credit facilities obtained from affiliates or unaffiliated third parties when possible and also seek to extend its existing affiliate working line of credit, which matures in April 2014 but may be extended at our election for an additional six months. To date, the Company has relied on borrowing from affiliates to help finance its business activities. However, there are no assurances that the Company will be able to continue to borrow from affiliates or extend the maturity date of its existing affiliated line of credit. The Company can make no assurances any of these funding arrangements or strategic transactions will occur or be successful.
	The Company’s Sponsor has agreed to provide financial support to the Company sufficient for the Company to satisfy in the ordinary course of business its obligations and debt service requirements, including those related to the filing of the registration statement to sell shares of its Class A common stock in an underwritten public offering, if the Company is unable to satisfy those expenses as they ordinarily come due after the Company has expended best efforts to satisfy those expenses by means available to the Company, and satisfy all liabilities and obligations of the Company that it is unable to satisfy when due after the Company has expended best efforts to satisfy those expenses by means available to it through and including   the earlier of (1) February 15, 2015 or (2) the initial closing date of an underwritten public offering to sell shares of its Class A common stock. The Sponsor has deferred payment by the Company as needed of asset management fees, acquisition fees and organizational and offering costs incurred by the Company and has deferred current year reimbursable operating expenses, though the Sponsor is not currently advancing cash on its behalf. During the year ended December 31, 2013, the Company paid the Advisor approximately $645,000 of its outstanding accounts payable.
	As a result of these circumstances and unless the Company is able to locate alternative sources of financing as discussed above, the Company expects that it will continue to generate negative cash flow as its general and administrative costs will remain higher relative to the size of the Company’s portfolio, and that its portfolio will not be as diversified as it otherwise would be if the Company had been able to raise capital successfully through its Prior Public Offerings.

Basis_of_Presentation_and_Summ

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Basis of Presentation and Significant Accounting Policies [Text Block]	'
	Note 2 – Basis of Presentation and Summary of Significant Accounting Policies
	Principles of Consolidation and Basis of Presentation
	The Company operates as an umbrella partnership REIT in which the Operating Partnership, or its wholly owned subsidiaries, owns substantially all of the property interests acquired on its behalf.
	Because the Company is the sole general partner of its Operating Partnership and has unilateral control over its management and major operating decisions (even if additional limited partners are admitted to the Operating Partnership), the accounts of the Operating Partnership are consolidated in its consolidated financial statements. All significant intercompany accounts and transactions are eliminated in consolidation.  The Company will consider future majority owned and controlled joint ventures for consolidation in accordance with the provisions required by the Consolidation Topic 810 of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”).
	Summary of Significant Accounting Policies
	Use of Estimates
	The preparation of the 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.  At the property level, these estimates include such items as purchase price allocation of real estate acquisitions, impairment of long-lived assets, depreciation and amortization and allowance for doubtful accounts.  Actual results could differ from those estimates.
	Fair Value Measurements
	Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  The GAAP fair value framework uses a three-tiered approach.  Fair value measurements are classified and disclosed in one of the following three categories:
		·	Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
		·	Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
		·	Level 3 – Prices or valuation techniques where little or no market data is available that requires inputs that are significant to the fair value measurement and unobservable.
	If the inputs used to measure the fair value fall within different levels of the hierarchy, the fair value is determined based upon the lowest level input that is significant to the fair value measurement. Whenever possible, the Company uses quoted market prices to determine fair value. In the absence of quoted market prices, the Company uses independent sources and data to determine fair value.
	Accounting for Joint Ventures
	The Company first analyzes its investments in joint ventures to determine if the joint venture is a variable interest entity (a “VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation.   A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest.  VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity.  Variable interests in a VIE are contractual, ownership, or other financial interests in a VIE that change with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses at each level of the joint venture whether the entity is (i) a VIE, and (ii) if the Company is the primary beneficiary of the VIE.  If it was determined an entity in which the Company holds a joint venture interest qualified as a VIE and the Company was the primary beneficiary, it would be consolidated.
	After consideration of the VIE accounting literature and the Company has determined that VIE accounting is not applicable to the joint ventures accounting the Company assesses consolidation under all other provisions of ASC 810.  These provisions provide for consolidation for majority-owned entities through majority voting interest in the Company providing control, or through determination of control by the Company being the general partner in a limited partnership or the controlling member of a limited liability company.
	In assessing whether the Company is in control of and requiring consolidation of the limited liability company and partnership venture structures the Company evaluates the respective rights and privileges afforded each member or partner (collectively referred to as “member”).  The Company’s member would not be deemed to control the entity if any of the other members have either (i) substantive kickout rights providing the ability to dissolve (liquidate) the entity or otherwise remove the managing member or general partner without cause or (ii) has substantive participating rights in the entity.  Substantive participating rights (whether granted by contract or law) provide for the ability to effectively participate in significant decisions of the entity that would be expected to be made in the ordinary course business.
	If it has been determined that the Company does not have control under any of the above described circumstances, but does have substantive participating rights, the Company generally accounts for these unconsolidated investments under the equity method.  The equity method of accounting requires these investments to be initially recorded at cost and subsequently increased (decreased) for the Company’s share of net income (loss), including eliminations for the Company’s share of inter-company transactions, and increased (decreased) for contributions (distributions). The proportionate share of the results of operations of these investments is recorded in the Company’s earnings or losses.
	Real Estate Assets
	Development, Improvements, Depreciation and Amortization
	Real estate costs related to the development and improvement of properties will be capitalized.  Repair and maintenance and tenant turnover costs will be charged to expense as incurred and significant replacements and betterments will be capitalized.  Repair and maintenance and tenant turnover costs include all costs that do not extend the useful life of the real estate asset.  The Company considers the period of future benefit of an asset to determine its appropriate useful life and anticipates the estimated useful lives of assets by class to be generally as follows:
	Buildings	30 – 35 years
	Building improvements	15 years
	Land improvements	15 years
	Furniture, fixtures and equipment	5 – 7 years
	In-place leases	6 months
	Real Estate Purchase Price Allocation
	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination.  All assets acquired and liabilities assumed in a business combination are measured at their acquisition date fair values.  Acquisition costs are expensed as incurred.
	Intangible assets include the value of in-place leases, which represents the estimated fair value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up.  The Company amortizes the value of in-place leases to expense over the remaining non-cancelable term of the respective leases, which is on average six months.
	Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods and the number of years the property will be held for investment.  The use of inappropriate assumptions could result in an incorrect valuation of acquired tangible assets, identifiable intangible assets and assumed liabilities, which could impact the amount of the Company’s net income (loss).
	Impairment of Real Estate Assets
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of the Company’s real estate and related intangible assets may not be recoverable.  When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability of the assets by estimating whether the Company will recover the carrying value of the asset through its undiscounted future cash flows and its eventual disposition.  Based on this analysis, if the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company records an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities.  If any assumptions, projections or estimates regarding any asset changes in the future, the Company may have to record an impairment to reduce the net book value of such individual asset.
	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value.
	Restricted Cash
	Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for escrow deposits and amounts set aside for real estate taxes and insurance.
	Concentration of Credit Risk
	The Company maintains cash balances with high quality financial institutions and periodically evaluates the creditworthiness of such institutions and believes that the Company is not exposed to significant credit risk.  Cash balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation.
	Rents and Other Receivables
	The Company will periodically evaluate the collectability of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements.  The Company exercises judgment in establishing these allowances and considers payment history and current credit status of tenants in developing these estimates.
	Deferred Financing Fees
	Deferred financing fees, paid by the Company on behalf of its unconsolidated joint ventures, are recorded at cost within investments in unconsolidated real estate joint ventures and are amortized to equity in income of unconsolidated joint ventures using a straight-line method that approximates the effective interest method over the life of the related joint venture debt.
	Deferred financing fees, paid by the Company on behalf of its consolidated joint ventures, such as commitment fees, legal fees and other third party costs associated with obtaining commitments for financing, are capitalized on the balance sheet.  The Company amortizes these costs over the terms of the respective financing agreements using the interest method.
	Noncontrolling Interests
	Noncontrolling interests are comprised of the Company’s joint venture partners’ interests in the joint ventures in multifamily communities that the Company consolidates.  The Company reports its joint venture partners’ interest in its consolidated real estate joint ventures and other subsidiary interests held by third parties as noncontrolling interests.  The Company records these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss or equity contributions and distributions.  These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity.  Income and losses are allocated to the noncontrolling interest holder based on its economic ownership percentage.
	Revenue Recognition
	Rental income related to leases is recognized on an accrual basis when due from residents, generally on a monthly basis.  Any deferred revenue is recorded as a liability within deferred lease revenues and other related liabilities.
	Stock-Based Compensation
	The Company accounts for stock-based compensation in accordance with the provisions of the Stock Compensation Topic of the FASB ASC. This topic established a fair value based method of accounting for stock-based compensation and requires the fair value of stock-based compensation awards to amortize as an expense over the vesting period.
	Distribution Policy
	The Company has elected to be taxed as a REIT, to operate as a REIT and has qualified since its taxable year ending December 31, 2010.  To maintain its qualification as a REIT, the Company is required to make distributions each taxable year equal to at least 90% of its REIT annual taxable income (excluding net capital gains and income from operations or sales through a taxable REIT subsidiary, or TRS). The Company expects to authorize and declare regular cash distributions to its stockholders.
	Distributions to stockholders will be determined by the Company’s Board of Directors and will be dependent upon a number of factors relating to the Company, including funds available for the payment of distributions, financial condition, the timing of property acquisitions, capital expenditure requirements, and annual distribution requirements in order to maintain the Company’s status as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”) and other considerations as the Board of Directors may deem relevant.
	Related Party Transactions
	Pursuant to the advisory agreement, the Company is obligated to pay the Advisor specified fees upon the provision of certain services related to, the investment of funds in real estate investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is also obligated to reimburse the Advisor for organization and offering costs incurred by the Advisor on the Company’s behalf, and is obligated to reimburse the Advisor for acquisition expenses and certain operating expenses incurred on its behalf or incurred in connection with providing services to the Company.   The Company records all related party fees as incurred, subject to any limitations described in the advisory agreement.
	Selling Commissions and Dealer Manager Fees
	The Company pays the dealer manager up to 7% and 2.6% of the gross offering proceeds from the primary offering as selling commissions and dealer manager fees, respectively.  A reduced sales commission and dealer manager fee is paid with respect to certain volume discount sales.  No sales commission or dealer manager fee is paid with respect to shares issued through the distribution reinvestment plan.  The dealer manager may re-allow all or a portion of sales commissions earned to participating broker-dealers.  The dealer manager may re-allow, in its sole discretion, to any participating broker-dealer a portion of its dealer manager fee as a marketing fee.  For the years ended December 31, 2013 and 2012, the Company has incurred $2,137,994 and $1,994,749, respectively, of selling commissions and dealer manager fees.  The dealer manager agreement was terminated in conjunction with the termination of the Follow-On Offering, September 9, 2013.
	Acquisition and Disposition Fees
	The Company pays the Advisor an acquisition fee for its services in connection with the investigation, selection, sourcing, due diligence and acquisition of a property or investment. On September 26, 2012, the Company amended its advisory agreement to increase the acquisition fee from 1.75% to 2.50% of the purchase price. The purchase price of a property or investment will equal the amount paid or allocated to the purchase, development, construction or improvement of a property, inclusive of expenses related thereto, and the amount of debt associated with such real property or investment.
	The Company pays the Advisor a fee for its services in connection with the disposition of a property or investment equal to the lesser of (A) 1.5% of the sales price of each property or other investment sold, or (B) 50% of the selling commission that would have been paid to a third-party sales broker in connection with such disposition. On October 21, 2013, the Company amended its advisory agreement to only to allow a disposition fee of 1.5% of the sales price of each property or other investment sold. Acquisition and disposition fees of $274,411 and $3,426,267 were paid during the years ended December 31, 2013 and 2012, respectively.
	Asset Management Fee
	With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee.  On September 26, 2012, the Company amended its advisory agreement to decrease the asset management fee from one-twelfth of 1% to one-twelfth of 0.65% of the amount paid or allocated to acquire the investment excluding acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment. In the case of investments made through joint ventures, the asset management fee will be determined based on our proportionate share of the underlying investment.  For the years ended December 31, 2013 and 2012, the Company had incurred approximately $522,012 and $315,696, respectively, of asset management fees.
	Financing Fee
	The Company pays the Advisor a financing fee equal to 1% of the amount, under any loan or line of credit, made available to us.  On October 21, 2013, the Company amended its advisory agreement to decrease the financing fee from 1% to 0.25% of any loan made to the Company.  For the year ended December 31, 2012, the Company incurred $5,891 of financing fees. The Company did not incur any financing fees for the year ended December 31, 2013.
Independent Director Compensation
The Company pays each of its independent directors an annual retainer of $25,000.  In addition, the independent directors are paid for attending meetings as follows: (i) $2,500 for each Board meeting attended, (ii) $2,000 for each committee meeting attended, (iii) $1,000 for each teleconference Board meeting attended, and (iv) $1,000 for each teleconference committee meeting attended.  All directors also receive reimbursement of reasonable out-of-pocket expenses incurred in connection with attendance at meetings of the Board of Directors.  In addition 5,000 shares of restricted stock were granted upon initial election to the Board and 2,500 shares of restricted stock will be granted upon re-election to the Board. Director compensation is an operating expense of the Company that is subject to the operating expense reimbursement obligation of the Advisor discussed in Note 10, “Related Party Transactions.”
Income Taxes
The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and has qualified since the taxable year ended December 31, 2010.  To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders.  Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.  If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to continue to organize and operate in such a manner as to remain qualified for treatment as a REIT.
For the years ended December 31, 2013 and 2012, all distributions received by the shareholders were classified as return of capital for tax purposes due to the net loss recorded by the Company.
The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements.  If any income tax exposure was identified, the Company would recognize an estimated liability for income tax items that meet the criteria for accrual. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. If any interest and penalties related to income tax assessments arose, the Company would record them as income tax expense. The Company’s evaluations were performed for the tax years ending December 31, 2013 and 2012.   As of December 31, 2013, returns for the calendar years 2009 through 2012 remain subject to examination by major tax jurisdictions.  Management has considered all positions taken on the 2009 through 2012 tax returns (where applicable) and those positions expected to be taken on the 2013 tax returns.
Reportable Segment
The Company’s current business consists of investing in and operating multifamily communities. Substantially all of its consolidated net loss is from investments in real estate properties that the Company owns through co-investment ventures which it either consolidates or accounts for under the equity method of accounting.  The Company evaluates operating performance on an individual property level and views its real estate assets as one industry segment, and, accordingly, its properties will be aggregated into one reportable segment.
Recent Accounting Pronouncements Not Yet Adopted
There has been no issued accounting guidance not yet adopted by the Company that it believes is material or potentially material to the Company’s Consolidated Financial Statements.

Real_Estate_Assets_Held_for_Sa

Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests	12 Months Ended
	Dec. 31, 2013
Real Estate Assets Held for Development and Sale [Abstract]	'
Real Estate Assets Held For Sale And Sale Of Joint Venture Interest Disclosure [Text Block]	'
	Note 3 – Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests
	Real Estate Assets Held for Sale
	ASC Topic 360-10, Property, Plant and Equipment – Overall, requires a long-lived asset to be classified as “held for sale” in the period in which certain criteria are met.  The Company classifies real estate assets as held for sale after the following conditions have been satisfied: (1) management, having the appropriate authority, commits to a plan to sell the asset, (2) the initiation of an active program to sell the asset, and (3) the asset is available for immediate sale and it is probable that the sale of the asset will be completed within one year.
	The Company periodically classifies real estate assets as held for sale, and these assets and their liabilities are stated separately on the accompanying consolidated balance sheets.  The real estate assets held for sale and the liabilities related to real estate assets held for sale, representative of the Creekside property and Enders property, as of December 31, 2013, were as follows:
		Real Estate Assets
		Held for Sale
		December 31, 2013
	Operating properties held for sale	$	43,458,027
	Other assets		1,452,785
	Assets held for sale	$	44,910,812
		Liabilities Related to
		Real Estate Assets
		Held for Sale
		December 31, 2013
	Property indebtedness	$	32,226,165
	Other liabilities		1,001,485
	Liabilities related to assets held for sale	$	33,227,650
	The following is a summary of results of operations of the properties classified as discontinued operations for the years ended December 31, 2013 and 2012:
		For the Years Ended December 31,
		2013		2012
	Total revenues	$	5,446,465	$	1,954,242
	Expenses
	Property operating expenses		-1,299,145		-434,773
	Management fees		-213,387		-84,656
	Depreciation and amortization		-1,708,087		-1,288,261
	General and administrative expenses		-198,806		-148,179
	Asset management and oversight fees to affiliates		-160,196		-57,439
	Real estate taxes and insurance		-973,402		-345,443
	Acquisition costs		-635		-1,132,518
	Operating Loss	$	892,807	$	-1,537,027
	Gain on business combination		-		1,242,964
	Interest exp, net		-1,249,353		-426,752
	Loss from discontinued operations	$	-356,546	$	-720,815
	Sale of Joint Venture Equity Interests
	On September 30, 2013, the Company, through its indirect joint venture equity interest in Bell BR Hillsboro Village JV, LLC (the “Hillsboro Managing Member JV Entity”), sold the underlying real estate asset to an unaffiliated third party for $44,000,000. The sale generated proceeds to the Company of approximately $2,439,204 based on its proportionate ownership, after closing costs and reserves and excluding a disposition fee of $82,500 payable per the Advisory Agreement between the Company and its Advisor and deferred by the Advisor.  The Company recognized a gain of $1,686,877 through its proportionate share of the equity interest in the property.
	On August 13, 2013, the Company sold a 10.27% indirect joint venture equity interest in a to-be developed class A, mid-rise apartment community known as 23Hundred @ Berry Hill (the “Berry Hill property”) pursuant to the terms of a Membership Interest Purchase and Sale Agreement (the “MIPA”) with Bluerock Growth Fund, LLC, a Delaware limited liability company and an affiliate of the Sponsor, with the Company retaining an approximate 53.46% indirect equity interest in the Berry Hill property. The sale generated proceeds to the Company of $2,000,040, excluding a disposition fee of approximately $69,470 payable per the Advisory Agreement between the Company and its Advisor and deferred by the Advisor, and subject to certain prorations and adjustments typical in a real estate transaction.  The Company recognized a gain on the sale of $971,699, net of disposition fees. The sale price in the transaction was determined based on an MAI, independent appraisal dated August 2013 for the Berry Hill property underlying the subject joint venture.
	On August 29, 2013, the Company sold an additional 28.36% indirect joint venture equity interest in the Berry Hill property to SOIF III, an affiliate of the Company, in exchange for a $5,524,412 reduction of the outstanding principal balance of the SOIF LOC. The consideration for the Berry Hill Interest was based on the proportionate share of the appraised value of the Berry Hill property as determined by an MAI, independent appraisal dated August 2013 for the Berry Hill property, excluding a disposition fee of approximately $191,886 payable per the Advisory Agreement between the Company and the Advisor, and deferred by the Advisor, and was subject to certain prorations and adjustments typical in a real estate transaction. The Company recognized a gain on the sale of $2,727,568, net of disposition fees. As this partial sale of the Company’s controlling interest did not result in a change of control, the gain has been recorded as an adjustment to additional paid-in capital and the proportionate carrying value of the partial interest has been reclassified to noncontrolling interests.
	Following these transactions, the Company owns a 25.1% indirect joint venture equity interest in the Berry Hill property.
	In June 2012, the Company sold all of its joint venture interest in BR Meadowmont Managing Member, LLC (the “Meadowmont Managing Member JV Entity”), the entity through which the Company indirectly invested in the Meadowmont property, for an aggregate sale price of $3,113,581, excluding closing costs and a disposition fee paid to an affiliate of the Advisor of $136,216 and recognized a gain on the sale of $2,014,533, net of disposition fees.

Investments_in_Real_Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
Real Estate Disclosure [Text Block]	'
	Note 4 – Investments in Real Estate
	As of December 31, 2013, the Company was invested in five operating real estate properties and one development property through joint venture partnerships.  The following table provides summary information regarding the Company’s in-service investments ($ in thousands), which are either consolidated or presented on the equity method of accounting.
									Joint Venture Equity
									Investment Information
											Our		Average		%
											Ownership		Effective		Occupied
	Multifamily		Rentable				Property				Interest in		Monthly		as of
	Community		Square		Number	Date	Acquisition		Gross Amount of		Property		Rent Per		December 31,
	Name/Location		Footage		of Units	Acquired	Cost(1)		Our Investment		Owner		Unit(2)		2013 (3)
	Springhouse at Newport News/Newport News, Virginia			310,826	432	12/3/09	$	29,250	$	2,670	38.25	%	$	800	92	%
	The Reserve at Creekside Village/Chattanooga, Tennessee			211,632	192	3/31/10	$	14,250	$	717	24.7	%	$	978	92	%
	The Estates at Perimeter/ Augusta, Georgia			266,148	240	9/1/10	$	24,950	$	1,931	25	%	$	957	88	%
	Enders Place at Baldwin Park/Orlando, Florida			234,600	198	10/2/12	$	25,100	$	4,599	48.4	%	$	1,446	95	%
	MDA Apartments/Chicago, Illinois(4)			160,290	190	12/17/12	$	54,900	$	6,098	35.31	%	$	2,152	89	%
	Total/Average			1,183,496	1,252		$	148,450	$	16,015			$	6,333	91	%
		-1	Property Acquisition Cost excludes acquisition fees and closing costs.
		-2	Average effective monthly rent per unit is equal to the average of (i) the contractual rent for commenced leases as of December 31, 2013 minus any tenant concessions over the term of the lease, divided by (ii) the number of units under commenced leases as of December 31, 2013. Total concessions for the year ended December 31, 2013 amounted to approximately $617,000.
		-3	Percent occupied is calculated as (i) the number of units occupied as of December 31, 2013, divided by (ii) total number of units, expressed as a percentage.
		-4	The rentable square footage for the MDA Apartments includes 8,200 square feet of retail space.
	Consolidation of Previously Unconsolidated Properties
	In June 2012, the Company entered into a Membership Interest Purchase and Sale Agreement pursuant to which the Company completed the purchase of an additional 1.0% joint venture equity interest in BR Springhouse Managing Member, LLC (the “Springhouse Managing Member JV Entity”), the entity through which the Company indirectly invested in the Springhouse property, and an additional 2.0% joint venture equity interest in BR Creekside Managing Member, LLC (the “Creekside Managing Member JV Entity”), the entity through which the Company indirectly invests in the Creekside property, for an aggregate purchase price of $202,532, excluding closing costs.  The Company recognized a gain of $3,450,460, net of acquisition costs, related to the revaluation of its equity interest for the difference between its carrying value in the unconsolidated real estate joint ventures and the fair value of its ownership interests at acquisition.  The fair value was derived from the price terms of the purchase agreement, which were determined based on Member Appraisal Institute (“MAI”), independent appraisals dated May 2012.  The purchases closed at the end of June 2012.
	As a result of the closings of the interest purchases, the Company’s joint venture interests in the Springhouse Managing Member JV Entity increased from 50% to 51% and the Company’s joint venture interests in the Creekside Managing Member JV Entity increased from 33.33% to 35.33%.  In addition, the related joint venture operating agreements were modified to grant the Company sole control of the operations of both properties. As such, the Company began to consolidate these entities upon taking control.
	Acquisition of Joint Venture Equity Interests
	On December 17, 2012, through a wholly-owned subsidiary, the Company entered into a joint venture investment along with Bluerock Special Opportunity + Income Fund, LLC (“SOIF I”) and BR MDA Investors, LLC, both of which are affiliates of its Sponsor, to acquire a 190 unit apartment complex commonly known as “MDA Apartments,” located in Chicago, Illinois.  The Company invested $6,098,306 to acquire a 35.31% indirect interest in MDA Apartments. The Company recognized a gain of $7,297,942, net of acquisition costs, as the fair value of the complex exceeded the cost of its initial investment.  The gain is recorded in “Gain on business combinations” in the Company’s Consolidated Statements of Operations.
	In 2012, through a wholly-owned subsidiary, the Company entered into a joint venture investment along with SOIF III, an affiliate of the Company’s Sponsor, and an affiliate of Stonehenge Real Estate Group, LLC, an unaffiliated entity, to develop a 266-unit, class A, mid-rise apartment community in Nashville, Tennessee, to be known as 23Hundred @ Berry Hill.  On October 18, 2012, the Company acquired a 58.575% indirect equity interest and, on December 17, 2012, the Company acquired an additional 5.158% indirect equity interest in the Berry Hill property, for a total investment of $4,157,759.  Subsequently, the Company has partially disposed of its indirect equity interest, as described in Note 3, “Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests” above. The Berry Hill property is anticipated to consist of approximately 194,275 rentable square. First move-ins began in November 2013.  The total projected development cost is approximately $33.7 million, or $129,580 per unit.  As of December 31, 2013, $27.7 million in development costs had been incurred by the Berry Hill property joint venture, of which the Company has funded its proportionate share of the equity in the amount of $8.3 million.
	On October 2, 2012, through a wholly-owned subsidiary, the Company entered into a joint venture investment along with SOIF III, and Waypoint Residential, LLC, an unaffiliated entity, to acquire 198 units of a 220-unit multifamily housing community commonly known as “Enders Place,” located in Orlando, Florida.  The Company invested $4,716,846 to acquire a 48.4% indirect interest in the Enders property.

Consolidated_Investments

Consolidated Investments	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
Consolidated Real Estate Properties Disclosure [Text Block]	'
	Note 5 – Consolidated Investments
	As of December 31, 2013, the major components of  the Company’s consolidated real estate properties, Springhouse at Newport News, The Reserve at Creekside Village, Enders Place at Baldwin Park, 23Hundred @ Berry Hill and MDA Apartments, were as follows:
								Furniture,
				Building and		Construction in		Fixtures and
	Property	Land		Improvements		Progress		Equipment		Totals
	Springhouse	$	6,500,000	$	27,663,473	$	-	$	1,107,824	$	35,271,297
	Creekside		1,920,000		17,953,935		-		491,111		20,365,046
	Enders		4,750,000		19,262,413		-		908,405		24,920,818
	Berry Hill		5,000,000		4,286,905		16,695,988		310,055		26,292,948
	MDA		9,500,000		51,547,961		-		615,980		61,663,941
		$	27,670,000	$	120,714,687	$	16,695,988	$	3,433,375	$	168,514,050
	Less: Accumulated Depreciation		-		-4,807,728		-		-700,977		-5,508,705
	Totals	$	27,670,000	$	115,906,959	$	16,695,988	$	2,732,398	$	163,005,345
	Depreciation expense was $4,358,584 and $1,150,449 for the years ended December 31, 2013 and 2012, respectively.
	Costs of intangibles related to the Company’s consolidated investments in real estate consist of the value of in-place leases and deferred financing costs.  In-place leases are amortized over the remaining term of the in-place leases, approximately a six-month term, and deferred financing costs are amortized over the life of the related loan.  Amortization expense related to the Company’s in-place leases and deferred financing costs was $1,454,192 and $1,685,593 for the years ended December 31, 2013 and 2012, respectively.
	Operating Leases
	The Company’s real estate assets are leased to tenants under operating leases for which the terms and expirations vary.  The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty and other terms and conditions as negotiated.  The Company retains substantially all of the risks and benefits of ownership of the consolidated real estate assets leased to tenants.  Generally, upon the execution of a lease, the Company requires security deposits from tenants in the form of a cash deposit.  Amounts required as a security deposit vary depending upon the terms of the respective leases and the creditworthiness of the tenant, but generally are not significant amounts.  Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of its security deposit.  Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $234,184 and $234,370 as of December 31, 2013 and 2012, respectively, for the Company’s consolidated real estate properties.  No individual tenant represents over 10% of the Company’s annualized base rent for the consolidated real estate properties.

Equity_Method_Investments

Equity Method Investments	12 Months Ended
	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Equity Method Investments Disclosure [Text Block]	'
	Note 6 – Equity Method Investments
	Following is a summary of the Company’s ownership interest by property, for investments the Company reports under the equity method of accounting at December 31, 2013 and 2012.
	Property	Joint Venture		Managing Member		Indirect Equity
		Interest		LLC Interest		Interest in Property
	Augusta	50	%	50	%	25	%
	The carrying amount of the Company’s investments in unconsolidated joint ventures was $1,212,456 and $1,297,946 as of December 31, 2013 and 2012, respectively.  Summary financial information for Augusta Balance Sheets as of December 31, 2013 and 2012 and Operating Statements for the years ended December 31, 2013 and 2012, is as follows:
		December 31,		December 31,
		2013		2012
	Balance Sheet:
	Real estate, net of depreciation	$	22,188,399	$	22,873,918
	Other assets		394,866		341,334
	Total assets	$	22,583,265	$	23,215,252
	Mortgage payable	$	17,600,839	$	17,896,524
	Other liabilities		139,465		155,151
	Total liabilities	$	17,740,304	$	18,051,675
	Stockholders’ equity		4,842,961		5,163,577
	Total liabilities and stockholders’ equity	$	22,583,265	$	23,215,252
		For the Years Ended December 31,
		2013		2012
	Operating Statements:
	Rental revenues	$	2,670,382	$	2,662,547
	Operating expenses		-980,362		-1,014,131
	Income before debt service, acquisition costs, and depreciation and amortization		1,690,020		1,648,416
	Mortgage interest		-763,363		-774,973
	Acquisition costs		-		-
	Depreciation and amortization		-792,069		-781,965
	Net income (loss)		134,588		91,478
	Net (income) loss attributable to JV partners		-109,900		-72,336
			24,688		19,142
	Amortization of deferred financing costs paid on		-1,284		-1,284
	behalf of joint ventures
	Equity in earnings (loss) of unconsolidated joint ventures	$	23,404	$	17,858

Mortgages_Payable

Mortgages Payable	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Mortgage Notes Payable Disclosure [Text Block]	'
	Note 7 – Mortgages Payable
	Springhouse Mortgage Payable
	On December 3, 2009, the Company, through an indirect subsidiary (the “Springhouse Borrower”), entered into a loan with CWCapital LLC, a Massachusetts limited liability company, for an amount of $23,400,000 (the “Springhouse Senior Loan”), which loan is secured by the Springhouse property.  The loan was subsequently sold to the Federal Home Loan Mortgage Corporation (Freddie Mac).  The Springhouse Senior Loan matures on January 1, 2020 and bears interest at a fixed rate of 5.660% per annum.  Monthly payments were interest-only for the first two years of the Springhouse Senior Loan.  Yield maintenance payments will be required to the extent prepaid before the sixth month prior to the maturity date; during the period from the sixth month prior to the maturity date to the third month prior to the maturity date, a prepayment premium of 1% of the loan amount will be required, and thereafter the loan may be prepaid without penalty. The Springhouse Senior Loan is nonrecourse to the Springhouse Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Springhouse Borrower, or any of its officers, members, managers or employees.
	Creekside Mortgage Payable
	On October 13, 2010, the Company, through an indirect subsidiary (the “Creekside Borrower”), entered into a U.S. Department of Housing and Urban Development (HUD) loan agreement with Walker & Dunlop, LLC, a Delaware limited liability company, for an amount of $12,972,200 (the “Creekside Senior Loan”), which loan is secured by the Creekside property.  The Creekside Senior Loan matures on November 1, 2050 and bears interest at a fixed rate of 4.60% per annum.  Prepayment of the Creekside Senior Loan was prohibited before December 1, 2012. On or after December 1, 2012 until November 30, 2020 a prepayment premium equal to a percentage of the principal balance would be due. The prepayment premium is 8% on December 1, 2012 and reduces by 1% every December 1 until December 1, 2020 when the Creekside Senior Loan can be prepaid without penalty. The Creekside Senior Loan is nonrecourse to the Creekside Borrower, subject to certain provisions in the HUD Regulatory Agreement, which states that the Creekside Borrower and all of its existing and future members will be liable for any funds or property which they receive but are not entitled to and for acts and deeds by themselves or others which they have authorized in violation of the provisions of the Regulatory Agreement.
	Enders Mortgage Payable
	On October 2, 2012, the Company, through an indirect subsidiary (the “Enders Borrower”), entered into a loan with Jones Lang LaSalle Operations, LLC, an Illinois limited liability company, for an amount of $17,500,000 (the “Enders Senior Loan”),  which loan is secured by the Enders property.  The loan was subsequently assigned to Freddie Mac.  The Enders Senior Loan matures on November 1, 2022 and bears interest at a fixed rate of 3.97% per annum, with interest-only payments for the first two years and fixed monthly payments of approximately $83,245 based on a 30-year amortization schedule thereafter.  Yield maintenance payments will be required to the extent prepaid before the sixth month prior to the maturity date; during the period from the sixth month prior to the maturity date to the third month prior to the maturity date, a prepayment premium of 1% of the loan amount will be required, and thereafter the loan may be prepaid without penalty.  The Enders Senior Loan is nonrecourse to the Enders Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Enders Borrower, or any of its officers, members, managers or employees.
	MDA Mortgage Payable
	On December 17, 2012, the Company, through an indirect subsidiary (the “MDA Borrower”), entered into a loan with MONY Life Insurance Company for an amount of $37,600,000 (the “MDA Senior Loan”), which loan is secured by the MDA property.  The MDA Senior Loan matures on January 1, 2023 and bears interest at a fixed rate of 5.35% per annum, with three years interest only and thereafter fixed monthly payments of approximately $209,964 based on a 30-year amortization schedule thereafter.  The MDA Senior Loan may be prepaid, in full, at any time beginning in the third year of the term on at least 30 business days prior notice and the payment of a prepayment premium equal to the greater of (a) 1% of the principal balance and (b) a yield maintenance amount determined under the promissory note.  The MDA Senior Loan is nonrecourse to the MDA Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the MDA Borrower, or any of its officers, members, managers or employees.
	Berry Hill Mortgage Payable
	On October 18, 2012, the Company, through an indirect subsidiary (the “Berry Hill Borrower”), entered into a loan with Fifth Third Bank for an amount of $23,569,000 (the “Berry Hill Senior Loan”), which loan is secured by the Berry Hill property.  The Berry Hill Senior Loan matures on September 30, 2015 and bears interest at a floating rate, which is benchmarked to three-month LIBOR plus 2.75% during construction and three-month LIBOR plus 2.50% upon construction completion.  In the event that LIBOR becomes unavailable, the interest rate will become the prime rate plus the applicable spread.  The interest rate as of December 31, 2013 was 3.0%. The Berry Hill Senior Loan is subject to two one-year extensions.  The Berry Hill Senior Loan is nonrecourse to the Berry Hill Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Berry Hill Borrower, or any of its officers, members, managers or employees.
	As of December 31, 2013, contractual principal payments for the five subsequent years and thereafter are as follows:
	Year	Total
	2014	$	511,600
	2015		17,194,592
	2016		1,675,851
	2017		1,710,374
	2018		1,745,595
	Thereafter		83,731,980
		$	106,569,992
	Add: Unamortized fair value debt adjustment		4,690,512
	Total	$	111,260,504

Line_of_Credit

Line of Credit	12 Months Ended
	Dec. 31, 2013
Line Of Credit Facility [Abstract]	'
Line Of Credit Facility [Text Block]	'
	Note 8 – Line of Credit
	On October 2, 2012, the Company entered into the SOIF LOC, a working capital line of credit provided by SOIF II and SOIF III, both of which are affiliates of our Sponsor, pursuant to which it could borrow up to $12.5 million. The SOIF LOC may be prepaid without penalty. Under the original terms of the line of credit, the SOIF LOC was to bear interest compounding monthly at a rate of 30-day LIBOR + 6.00%, subject to a minimum rate of 7.50%, annualized for three months, and thereafter to bear interest compounding monthly at a rate of 30-day LIBOR + 6.00%, subject to a minimum rate of 8.50% for the remainder of the initial term.  As described below, beginning October 3, 2013, the SOIF LOC began bearing interest at a rate of 10.0% per annum.  Interest on the SOIF LOC will be paid on a current basis from cash flow distributed to the Company from its real estate assets and, if necessary, sales of real estate assets on a selective basis. The SOIF LOC is secured by a pledge of the Company’s unencumbered real estate assets, including those of its wholly owned subsidiaries. On March 4, 2013, the working capital line of credit was amended by increasing the commitment amount thereunder to $13.5 million and extending the initial 6-month term by six months to October 2, 2013, from the original maturity date of April 2, 2013. On August 13, 2013, the working capital line of credit was further amended in connection with the Company’s sale of the partial interest in our Berry Hill property, to, among other things, remove the revolving feature of the line of credit such that the Company may not borrow any further under the SOIF LOC. Further, SOIF II and SOIF III required that the principal amount outstanding under the SOIF LOC  be increased $100,000 upon the release of the lien, and that this increase must be paid at the earlier of our next sale of an asset or the maturity date under the SOIF LOC  in October 2013. On August 29, 2013, the SOIF LOC was further amended in consideration for a paydown and in exchange for payment of a 1% extension fee in the amount of $75,356 and an increase in the interest rate to 10% per annum, effective beginning on October 3, 2013, to extend the maturity date for an additional six months to April 2, 2014, with an additional option to further extend the term an additional six months for an additional 1% extension fee.  All other terms remain unchanged.  At December 31, 2013 and 2012, the outstanding balance on the SOIF LOC was $7,571,223 and $11,935,830, respectively, and no amount and $564,170 was available for borrowing, respectively.

Fair_Value_Measurement_Financi

Fair Value Measurement Financial Instruments	12 Months Ended
	Dec. 31, 2013
Fair Value Disclosures [Abstract]	'
Fair Value Disclosures [Text Block]	'
	Note 9 – Fair Value Measurement Financial Instruments
	As of December 31, 2013 and 2012, the Company believes the carrying values of cash and cash equivalents and receivables and payables from affiliates, accounts payable, accrued liabilities, distribution payable and notes payable approximate their fair values based on their highly-liquid nature and/or short-term maturities, including prepayment options.  As of December 31, 2013, the carrying value and approximate fair value of the mortgage payables, as presented on the balance sheet, were $111.3 million and $111.0 million, respectively.  The fair value of mortgage payables is estimated based on the Company’s current interest rates (Level 3 inputs) for similar types of borrowing arrangements.  The only nonrecurring fair value measurements during the years ended December 31, 2013 and 2012 were in connection with the consolidation of previously unconsolidated properties, as discussed in Note 3, “Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests.”

Related_Party_Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	Note 10 – Related Party Transactions
	In connection with the Company’s investments in Enders, Berry Hill and the MDA Apartments, it entered into the SOIF LOC with SOIF II and SOIF III, the terms of which are described above in Note 8 – Line of Credit. Cash payments by the Company on the SOIF LOC as of the year ended December 31, 2013 were $1,949,038, including interest.  The Company also paid down an additional $5,524,412 in exchange for selling part of its joint venture interest in Berry Hill to SOIF III, as discussed in Note 3, “Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests” above.
	As of December 31, 2013, $2,396,605 of organizational and offering costs have been incurred on the Company’s behalf by the Advisor since inception. The Company is liable to reimburse these costs to the Advisor only to the extent selling commissions, the dealer manager fee and other organization and offering costs do not exceed 15% of the gross proceeds of the applicable offering.  In 2010, the Company reimbursed the Advisor for approximately $508,000 of these costs.  When recorded by the Company, organizational costs are expensed and third-party offering costs are charged to stockholders’ equity.  As of December 31, 2013, $3,622,471 of offering costs have been charged to stockholders’ equity and, in 2010, $49,931 of organizational costs were expensed.  The organizational and offering costs exceed the 15% threshold discussed above, and given the termination of the Initial Public Offering in April 2013 and the Follow-On Offering in September 2013, the Company has recorded a receivable of approximately $508,000 due from the Advisor for the previously reimbursed organizational and offering costs, which remains due as of December 31, 2013. There were no amounts receivable from the Advisor as of December 31, 2012.
	The Advisor performs its duties and responsibilities as the Company’s fiduciary under an Advisory Agreement. The Advisory Agreement has a one-year term expiring October 14, 2014, and may be renewed for an unlimited number of successive one-year periods upon the mutual consent of the Company and its Advisor. The Advisor conducts the Company’s operations and manages its portfolio of real estate investments under the terms of the Advisory Agreement.  Certain of the Company’s affiliates will receive fees and compensation in connection with the acquisition, management and sale of its real estate investments.
	The Advisor is entitled to receive a monthly asset management fee for the services it provides pursuant to the Advisory Agreement. On September 26, 2012, the Company amended the Advisory Agreement to reduce the monthly asset management fee from one-twelfth of 1.0% of the higher of the cost or the value of each asset to one-twelfth of 0.65% of the higher of the cost or the value of each asset, where (A) cost equals the amount actually paid, excluding acquisition fees and expenses, to purchase each asset it acquires, including any debt attributable to the asset (including any debt encumbering the asset after acquisition), provided that, with respect to any properties the Company develops, constructs or improves, cost will include the amount expended by the Company for the development, construction or improvement, and (B) the value of an asset is the value established by the most recent independent valuation report, if available, without reduction for depreciation, bad debts or other non-cash reserves.  The asset management fee will be based only on the portion of the cost or value attributable to the Company’s investment in an asset if the Company does not own all of an asset.
	Pursuant to the Advisory Agreement, the Advisor is entitled to receive an acquisition fee for its services in connection with the investigation, selection, sourcing, due diligence and acquisition of a property or investment.  On September 26, 2012, the Company amended its Advisory Agreement to increase the acquisition fee from 1.75% to 2.50% of the purchase price. The purchase price of a property or investment will equal the amount paid or allocated to the purchase, development, construction or improvement of a property, inclusive of expenses related thereto, and the amount of debt associated with such real property or investment. The purchase price allocable for joint venture investments will equal the product of (1) the purchase price of the underlying property and (2) the Company’s ownership percentage in the joint venture. Acquisition and disposition fees of $274,411 and $3,426,267 were incurred during the years ended December 31, 2013 and 2012, respectively.
	The Advisor is also entitled to receive a financing fee for any loan or line of credit, made available to the Company. The Advisor may re-allow some or all of this fee to reimburse third parties with whom it may subcontract to procure such financing for the Company. On October 21, 2013, the Company amended its Advisory Agreement to decrease the financing fee from 1.0% to 0.25% of any loan made to the Company. In addition, to the extent the Advisor provides a substantial amount of services in connection with the disposition of one or more of the Company’s properties or investments (except for securities that are traded on a national securities exchange), the Advisor will receive fees equal to the lesser of (A)  1.5% of the sales price of each property or other investment sold or (B) 50% of the selling commission that would have been paid to a third-party broker in connection with such a disposition. In no event may disposition fees paid to the Advisor or its affiliates and unaffiliated third parties exceed in the aggregate 6% of the contract sales price. On October 21, 2013, the Company amended its Advisory Agreement to change the disposition fee to only 1.5% of the sales price of each property or other investment sold, such that the disposition fee is no longer determined based on selling commissions payable to third-party sales brokers.
	In addition to the fees payable to the Advisor, the Company reimburses the Advisor for all reasonable expenses incurred in connection with services provided to the Company, subject to the limitation that it will not reimburse any amount that would cause the Company’s total operating expenses at the end of the four preceding fiscal quarters to exceed the greater of 2% of the Company’s average invested assets or 25% of its net income determined (1) without reductions for any additions to reserves for depreciation, bad debts or other similar non-cash reserves and (2) excluding any gain from the sale of the Company’s assets for the period.  Notwithstanding the above, the Company may reimburse amounts in excess of the limitation if a majority of its independent directors determines such excess amount was justified based on unusual and non-recurring factors. If such excess expenses are not approved by a majority of the Company’s independent directors, the Advisor must reimburse the Company at the end of the four fiscal quarters the amount by which the aggregate expenses during the period paid or incurred by the Company exceeded the limitations provided above.  The Company will not reimburse the Advisor for personnel costs in connection with services for which the Advisor receives acquisition, asset management or disposition fees.  Due to the limitation discussed above and because operating expenses incurred directly by the Company exceeded the 2% threshold, the Board of Directors, including all of its independent directors, reviewed the total operating expenses for the four fiscal quarters ended December 31, 2012 and the Company’s total operating expenses for the four fiscal quarters ended December 31, 2013 and unanimously determined the excess amounts to be justified because of the costs of operating a public company in its early stage of operation and the Company’s initial difficulties with raising capital, which are expected to be non-recurring.  As the Board of Directors has previously approved such expenses, all operating expenses for the years ended December 31, 2013 and 2012 have been expensed as incurred.  Reimbursable operating expenses of $539,990 and $295,069 were incurred during the years ended December 31, 2013 and 2012, respectively.
	The Company has issued 1,000 shares of convertible stock, par value $0.01 per share, to the Company’s Advisor. The convertible stock will convert to shares of common stock if and when: (A) the Company has made total distributions on the then outstanding shares of its common stock equal to the original issue price of those shares plus an 8% cumulative, non-compounded, annual return on the original issue price of those shares or (B) subject to specified conditions, the Company lists its common stock for trading on a national securities exchange. A “listing” will be deemed to have occurred on the effective date of any merger of the Company in which the consideration received by the holders of its common stock is the securities of another issuer that are listed on a national securities exchange. Upon conversion, each share of convertible stock will convert into a number of shares of common stock equal to 1/1000 of the quotient of (A) 15% of the excess of (1) the Company’s “enterprise value” (as defined in the Company’s charter) plus the aggregate value of distributions paid to date on the outstanding shares of its common stock over the (2) aggregate purchase price paid by the stockholders for those shares plus an 8% cumulative, non-compounded, annual return on the original issue price of those shares, divided by (B) the Company’s enterprise value divided by the number of outstanding shares of common stock, in each case calculated as of the date of the conversion. If an event triggering the conversion occurs after the Advisory Agreement with the Advisor is not renewed or terminates (other than because of a material breach by the Advisor), the number of shares of common stock the Advisor will receive upon conversion will be prorated to account for the period of time the Advisory Agreement was in force.
	In general, the Company contracts property management services for certain properties directly to non-affiliated third parties, in which event it will pay the Advisor an oversight fee equal to 1% of monthly gross revenues of such properties.
	All of the Company’s executive officers and some of its directors are also executive officers, managers and/or holders of a direct or indirect controlling interest in the Advisor and other Bluerock-affiliated entities.  As a result, they owe fiduciary duties to each of these entities, their members and limited partners and investors, which fiduciary duties may from time to time conflict with the fiduciary duties that they owe to the Company and its stockholders.
	Some of the material conflicts that the Advisor or its affiliates face are: 1) the determination of whether an investment opportunity should be recommended to us or another Bluerock-sponsored program or Bluerock-advised investor; 2) the allocation of the time of key executive officers, directors, and other real estate professionals among the Company, other Bluerock-sponsored programs and Bluerock-advised investors, and the activities in which they are involved; 3) the fees received by the Advisor and its affiliates in connection with transactions involving the purchase, management and sale of investments regardless of the quality of the asset acquired or the service provided us; and 4) the fees received by the Advisor and its affiliates.
	Pursuant to the terms of the Advisory Agreement, summarized below are the related party amounts payable to the Advisor, as well as other affiliates, as of December 31, 2013 and 2012.  During the year ended December 31, 2013, the Company paid the Advisor approximately $645,000 of its outstanding accounts payable and has recorded a receivable of approximately $508,000 due from the Advisor for previously reimbursed organizational and offering costs.
		December 31,		December 31,
		2013		2012
	Asset management and oversight fees	$	966,396	$	426,938
	Acquisition fees		801,169		322,440
	Financing fees		35,670		5,891
	Reimbursable operating expenses		295,146		431,850
	Reimbursable offering costs		193,112		197,300
	Reimbursable organizational costs		49,931		49,931
	Other		17,748		388,217
	Total related-party amounts payable	$	2,359,172	$	1,822,567
	As of December 31, 2013 and 2012, the Company had $8,960 and $5,024, respectively, in receivables due to the Company from related parties other than the Advisor.

Stockholders_Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2013
Stockholders Equity Note [Abstract]	'
Stockholders' Equity Note Disclosure [Text Block]	'
	Note 11 – Stockholders’ Equity
	Net (Loss) Income Per Common Share
	Basic net (loss) income per common share is computed by dividing net (loss) income attributable to common shareholders, less dividends on restricted stock expected to vest plus gains on redemptions on common stock, by the weighted average number of common shares outstanding for the period.  Diluted net income (loss) per common share is computed by dividing net (loss) income attributable to common shareholders by the sum of the weighted average number of common shares outstanding and any potential dilutive shares for the period. Under the two-class method of computing earnings per share, net (loss) income attributable to common shareholders is computed by adjusting net loss for the non-forfeitable dividends paid on non-vested restricted stock.
	The following table reconciles the components of basic and diluted net (loss) income per common share:
			For the Year Ended December 31,
			2013			2012
	Net (loss) income from continuing operations attributable to common shareholders		$	-2,751,129		$	3,732,285
	Dividends on restricted stock expected to vest			-11,136			-11,564
	Gain on redemption of common stock(2)			1,575			4,018
	Basic net (loss) income from continuing operations attributable to common shareholders		$	-2,760,690		$	3,724,739
	Net loss from discontinued operations		$	-356,546		$	-720,815
	Net loss from discontinued operations attributable to noncontrolling interest			-136,674			-909,371
	Basic net (loss) income from discontinued operations attributable to common shareholders		$	-219,872		$	188,556
	Weighted average common shares outstanding			2,348,849			1,679,778
	Potential dilutive shares (1)			-			16,475
	Weighted average common shares outstanding and potential dilutive shares			2,348,849			1,696,253
	Basic (loss) income from continuing operations per share		$	-1.18		$	2.22
	Basic (loss) income from discontinued operations per share		$	-0.09		$	0.11
	Diluted (loss) income from continued operations per share		$	-1.18		$	2.2
	Diluted (loss) income from discontinued operations per share		$	-0.09		$	0.11
	(1) Excludes 15,908 shares related to non-vested restricted stock for the year ended December 31, 2013, as the effect would be anti-dilutive.  Also excludes any dilution related to the 1,000 shares of convertible stock as the conversion would be anti-dilutive and currently there would be no conversion into common shares.
	(2)Represents the difference between the fair value and carrying amount of the common stock upon redemption.
	Common Stock
	Pursuant to its Initial Public Offering, the Company offered to the public up to $1 billion in shares of its common stock (exclusive of shares to be sold pursuant to the Company’s distribution reinvestment plan) for $10.00 per share, with discounts available for certain categories of purchasers, and up to $28.5 million in shares of common stock to be issued pursuant to the Company’s distribution reinvestment plan at $9.50 per share.  On September 20, 2012, the Company filed a registration statement on Form S-11 with the SEC, to register $500.0 million in shares of its common stock (exclusive of shares to be sold pursuant to the Company’s distribution reinvestment plan) at a price of $10.00 per share (subject to certain volume discounts described in the prospectus), and $50.0 million in shares of its common stock to be sold pursuant to the Company’s distribution reinvestment plan at $9.50 per share, pursuant to the Follow-On Offering. As permitted by Rule 415 under the Securities Act, the Company continued the Initial Public Offering until April 12, 2013, the date the SEC declared the registration statement for the Follow-On Offering effective, which terminated the Initial Public Offering.  As of April 12, 2013, the Company had accepted aggregate gross offering proceeds in its Initial Public Offering of $22,231,406.  On August 23, 2013, at the recommendation of its Advisor and following the approval of its Board of Directors, the Company terminated its Follow-On Offering, effective September 9, 2013. As of September 9, 2013, the Company had accepted aggregate gross offering proceeds in its Follow-On Offering of $330,251, excluding shares sold pursuant to the Company’s distribution reinvestment plan.
	Convertible Stock
	The Company has issued to its Advisor 1,000 shares of its convertible stock for an aggregate purchase price of $1,000. Upon certain conditions, the convertible stock will convert to shares of common stock with a value equal to 15% of the excess of (i)  the Company’s enterprise value (as defined in our charter) plus the aggregate value of distributions paid to stockholders over (ii) the aggregate purchase price paid by stockholders for shares in the Company plus a 8% cumulative, non-compounded, annual return on the original issue price paid for those outstanding shares
	Share Repurchase Plan and Redeemable Common Stock
	The Company has previously adopted a share repurchase plan that enabled stockholders to sell their shares to the Company in limited circumstances.
	There were several limitations on the Company’s ability to repurchase shares under the share repurchase plan:
		·	The Company could not repurchase shares until the stockholder had held the shares for one year.
		·	During any calendar year, the share repurchase plan limited the number of shares the Company was allowed to repurchase to those that the Company could purchase with the net proceeds from the sale of shares under the distribution reinvestment plan during the previous fiscal year.
		·	During any calendar year, the Company was not allowed to repurchase in excess of 5% of the number of shares of common stock outstanding as of the same date in the prior calendar year.
	Pursuant to the terms of the Company’s share repurchase plan, the purchase price for shares repurchased under the share repurchase plan reflected the Company’s estimated value per share of $10.04 as of December 17, 2012. Except in the instance of a stockholder’s death or qualifying disability, the Company was able to repurchase shares at the lesser of (1) 100% of the average price per share the original purchaser paid to the Company for all of the shares (as adjusted for any stock distributions, combinations, splits, recapitalizations, special distributions and the like with respect to the Company’s common stock), or (2) $9.04 per share (i.e., 90% of the Company’s estimated net asset value per share of $10.04). Repurchases sought upon a stockholder’s death or “qualifying disability”, as that term is defined in the Company’s share repurchase plan, were to be made at a repurchase price of $10.04 per share. Shares subject to repurchase must have been held for at least one year.  The Company had no obligation to repurchase shares if the repurchase would violate the restrictions on distributions under Maryland law, which prohibits distributions that would cause a corporation to fail to meet statutory tests of solvency.
	The Company’s Board of Directors was allowed to amend or modify any provision of the plan at any time in its discretion without prior notice to participants. In the event that the Company’s Board of Directors amended, suspended or terminated the share repurchase plan, however, the Company was required to send stockholders notice of the change(s) following the date of such amendment, suspension or modification, and to disclose the change(s) in a report filed with the SEC on either Form 8-K, Form 10-Q or Form 10-K, as appropriate.
	The Company recorded amounts that were redeemable under the share repurchase plan as redeemable common stock in the accompanying consolidated balance sheets because the shares were redeemable at the option of the holder and, therefore, their redemption was outside the Company’s control. The maximum amount redeemable under the Company’s share repurchase plan was limited to the number of shares the Company could repurchase with the amount of the net proceeds from the sale of shares under the distribution reinvestment plan during the prior fiscal year. However, because the amounts that could be repurchased in future periods was determinable and only contingent on an event that was likely to occur (e.g., the passage of time), the Company presented the net proceeds from the current dividend reinvestment plan, net of current year redemptions, as redeemable common stock in the accompanying consolidated balance sheets.
	The Company classified financial instruments that represent a mandatory obligation to the Company to repurchase shares as liabilities. When the Company determined it had a mandatory obligation to repurchase shares under the share repurchase plan, the Company would reclassify such obligations from temporary equity to a liability based upon their respective settlement values. In addition, upon reclassification of such obligation to a liability, the difference between the fair value of the instrument and the carrying amount was added to (or subtracted from) net earnings available to common shareholders in the calculation of earnings per share.
	The Company limited the dollar value of shares that may be repurchased under the program as described above.
	During the year ended December 31, 2013, the Company redeemed $98,425 of common stock as a result of redemption requests. Proceeds from the Company’s distribution reinvestment plan for the year ended December 31, 2012 were $454,711, which under the Company’s share redemption plan established the maximum amount of redemption requests the Company could satisfy during the year ended December 31, 2013, subject to exceptional circumstances as determined by the Board of Directors. In September 2012, $59,005 of shares were repurchased based on extraordinary circumstances, leaving $395,706 available to fulfill redemption requests in 2013.  As of December 31, 2013, the Company received a total of nine redemption requests during the year ended December 31, 2013 for an aggregate of 25,129 shares, not including the partially deferred redemption request from the year ended December 31, 2012 in the amount of $23,125. The Company honored the deferred redemption requests from 2012 in full. Of the remaining redemption requests, the Company honored a total of 7,500 shares aggregating $75,300.  The average redemption price for the fulfilled redemptions during the year ended December 31, 2013 was $9.84 per share. Funds for the payment of redemption requests were derived from the proceeds of the Company’s distribution reinvestment plan.
	On June 27, 2013, following a meeting of its Board of Directors, the Company decided to explore strategic alternatives to enhance the growth of its portfolio. In anticipation of its review of strategic alternatives, the Board of Directors, including all of the Company’s independent directors, voted to suspend the Company’s share repurchase plan as of June 27, 2013 through the third quarter of 2013.  In addition, the Company’s Board of Directors, including all of the Company’s independent directors, voted to suspend payment of pending repurchase requests under the share repurchase plan that were queued as of June 27, 2013 for repurchase.
	On August 23, 2013, the Company’s Board of Directors, including all of the Company’s independent directors, voted to terminate the Company’s Distribution Reinvestment Plan (“DRP”).  The termination of the DRP eliminated the source of proceeds for the repurchase of shares under the share repurchase plan and, therefore, the Company’s Board of Directors, including all of the Company’s independent directors, voted to terminate the share repurchase plan, effective as of September 9, 2013.
	As a result of the termination of the share repurchase program, the repurchase requests received from stockholders during the second quarter of 2013, with respect to 17,629 shares aggregating $169,366, will not be fulfilled.  As the Company does not intend to fulfill any requests in the future, the aggregate amount of any accrued redemptions and redeemable common stock has been reclassified back to additional paid-in capital as of December 31, 2013.
	Equity Compensation Plan
	The Company previously adopted the Bluerock Residential Growth REIT, Inc. (formerly Bluerock Multifamily Growth REIT, Inc.) Long Term Incentive Plan (the “Former  Incentive Plan ”), in order to enable the Company to (1) provide an incentive to the Company’s employees, officers, directors, and consultants and employees and officers of the Advisor to increase the value of the Company’s common stock, (2) give such persons a stake in the Company’s future that corresponds to the stake of each of its stockholders, and (3) obtain or retain the services of these persons who are considered essential to the Company’s  long-term success, by offering such persons an opportunity to participate in the Company’s  growth through ownership of its common stock or through other equity-related awards.  The Company had reserved and authorized an aggregate number of 2,000,000 shares of its common stock for issuance under the Former Incentive Plan.
	Stock-based Compensation for Independent Directors
	The Company’s independent directors received an automatic grant of 5,000 shares of restricted stock on the effective date of the Initial Public Offering and will receive an automatic grant of 2,500 shares of restricted stock when such directors are reelected at each annual meeting of the Company’s stockholders thereafter. Each person who thereafter is elected or appointed as an independent director will receive an automatic grant of 5,000 shares of restricted stock on the date such person is first elected as an independent director and an automatic grant of 2,500 shares of restricted stock when such director is reelected at each annual meeting of the Company’s stockholders thereafter. To the extent allowed by applicable law, the independent directors will not be required to pay any purchase price for these grants of restricted stock. The restricted stock will vest 20% at the time of the grant and 20% on each anniversary thereafter over four years from the date of the grant. All restricted stock may receive distributions, whether vested or unvested. The value of the restricted stock to be granted is not determinable until the date of grant.
	On August 5, 2013, the Company’s three independent directors received an automatic grant of 2,500 shares each of restricted stock after their re-election to the Board of Directors at the Company’s annual meeting.
	A summary of the status of the Company’s non-vested shares as of December 31, 2013 and 2012, is as follows:
	Non Vested shares		Shares		Weighted average
					grant-date fair
					value
	Balance at January 1, 2012		16,500			165,000
	Granted		7,500			75,000
	Vested		-7,500			-75,000
	Forfeited		-			-
	Balance at December 31, 2012		16,500			165,000
	Granted		7,500			75,000
	Vested		-9,000			-90,000
	Forfeited		-			-
	Balance at December 31, 2013		15,000		$	150,000
	At December 31, 2013, there was $118,750 of total unrecognized compensation cost related to unvested stock options granted under the Plan. That cost is expected to be recognized over a period of four years. The total fair value of shares vested during the year ended December 31, 2013, was $90,000.
	The Company currently uses authorized and unissued shares to satisfy share award grants.
	Distributions
	Distributions, including distributions paid by issuing shares under the distribution reinvestment plan, for the year ended December 31, 2013 were as follows:
		Distributions
2013		Declared				Paid
First Quarter		$	393,291			$	385,167
Second Quarter			412,265				413,477
Third Quarter			426,066				423,134
Fourth Quarter			425,648				421,686
		$	1,657,270			$	1,643,464
Distributions were calculated based on stockholders of record per day during the period. Cash distributions were calculated at a rate of $0.00191781 per share of common stock per day, which would equal a daily amount that, if paid each day for a 365-day period, would equal a 7.0% annualized rate based on a purchase price of $10.00 per share. Stock distributions were calculated at a rate of $0.00219178 per share of common stock per day, which would equal a daily amount that, if paid each day for a 365-day period, would equal an 8.0% annualized rate based on a purchase price of $10.00 per share.

Commitments_and_Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2013
Commitments and Contingencies Disclosure [Abstract]	'
Commitments and Contingencies Disclosure [Text Block]	'
	Note 12 – Commitments and Contingencies
	The Company is subject to various legal actions and claims arising in the ordinary course of business. Although the outcome of any legal matter cannot be predicted with certainty, management does not believe that any of these legal proceedings or matters will have a material adverse effect on the consolidated financial position or results of operations or liquidity of the Company.

Economic_Dependency

Economic Dependency	12 Months Ended
	Dec. 31, 2013
Economic Dependency Disclosure [Abstract]	'
Economic Dependency Disclosure [Text Block]	'
	Note 13 – Economic Dependency
	The Company is dependent on the Advisor for certain services that are essential to the Company, including the identification, evaluation, negotiation, purchase and disposition of properties and other investments; management of the daily operations of its real estate portfolio; and other general and administrative responsibilities. In the event that the Advisor or its affiliates are unable to provide the respective services, the Company will be required to obtain such services from other sources.

Subsequent_Events

Subsequent Events	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	Note 14 – Subsequent Events
	The Company has performed an evaluation of subsequent events through the date the Company’s consolidated financial statements were issued.  No material subsequent events, other than the items disclosed below, have occurred that required recognition or disclosure in these financial statements.
	Termination of Creekside Purchase and Sale Agreement
	As previously disclosed, on December 12, 2013, BR Creekside, LLC, or BR Creekside, a special-purpose entity in which the Company holds a 24.706% indirect equity interest, entered into an Agreement of Purchase and Sale, or Purchase Agreement, with Prominent Realty Group of Georgia, Inc., or PRG, an unaffiliated third party, for the sale of BR Creekside’s entire interest in The Reserve at Creekside Village, a 192-unit garden-style apartment community located in Chattanooga, Tennessee (the “Creekside property”). The sale price for the Creekside property was to be $19,600,000, subject to deduction for the existing mortgage indebtedness on the Creekside property in the approximate amount of $12,600,000 and to certain prorations and adjustments typical in a real estate transaction. The net proceeds to the Company, after payment of closing costs and fees, were expected to be approximately $1,350,000.
	The Purchase Agreement provided PRG with a period of time to inspect the Creekside property (the “Inspection Period”), which Inspection Period was extended to January 17, 2014 pursuant to an amendment to the Purchase Agreement. PRG ultimately was not comfortable with the size and dynamics of the Chattanooga, Tennessee market and exercised its right to terminate the Purchase Agreement prior to the expiration of the Inspection Period by delivering written notice of termination of the Purchase Agreement to BR Creekside on January 16, 2014 and the Purchase Agreement was effectively terminated as of January 16, 2014. In connection with the termination of the Purchase Agreement, PRG received a return of its earnest money in the amount of $250,000.
	Distributions Paid
	The following distributions have been declared and paid subsequent to December 31, 2013:
	Distributions
	Declared Daily
	For Month			Total Cash
	Listed	Date Paid		Distribution
	Dec-13		2-Jan-14	$	143,504
	Jan-14		3-Feb-14	$	143,504
	Stockholder Approval of 2014 Individuals Plan and 2014 Entities Plan; Termination of Former Incentive Plan
	On December 16, 2013, our Board adopted, and on January 23, 2014 our stockholders approved, the 2014 Individuals Plan and the 2014 Equity Incentive Plan for Entities (the “2014 Entities Plan”). Upon the approval by our stockholders of the 2014 Individuals Plan and the 2014 Entities Plan, our Former Incentive Plan was terminated. The 2014 Individuals Plan provides for the grant of options to purchase shares of our common stock, stock awards, stock appreciation rights, performance units, incentive awards and other equity-based awards. Going forward, members of our Board are eligible to receive grants under the 2014 Individuals Plan as determined by our Board or compensation committee established by our Board.
	Sponsor’s Agreement to Provide Us Financial Support and to Defer Payment of Certain Fees
	On February 12, 2014, our Sponsor, Bluerock Real Estate, LLC, confirmed its agreement to provide financial support to us sufficient for us to satisfy in the ordinary course of business our obligations and debt service requirements, including those related to the filing of the registration statement to sell shares of our Class A common stock in an underwritten public offering, if we are unable to satisfy those expenses as they ordinarily come due after we have expended best efforts to satisfy those expenses by means available to us , and satisfy all liabilities and obligations of our company that we are unable to satisfy when due, after we have expanded best efforts to satisfy those expenses by means available to us, through the earlier of (1) February 15, 2015 or (2) the initial closing date of an underwritten public offering to sell shares of our Class A common stock.  In addition, our Sponsor has agreed to defer payment of property and asset management fees and operating expenses that are allocated to us, acquisition fees, property and asset management fees and other costs, and operating expenses which have been accrued as of December 31, 2013, and offering costs advanced on our behalf.

Basis_of_Presentation_and_Summ1

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2013
Accounting Policies [Abstract]	'
Use of Estimates, Policy [Policy Text Block]	'
	Use of Estimates
	The preparation of the 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.  At the property level, these estimates include such items as purchase price allocation of real estate acquisitions, impairment of long-lived assets, depreciation and amortization and allowance for doubtful accounts.  Actual results could differ from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	'
	Fair Value Measurements
	Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date.  The GAAP fair value framework uses a three-tiered approach.  Fair value measurements are classified and disclosed in one of the following three categories:
		·	Level 1 – Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities;
		·	Level 2 – Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and
		·	Level 3 – Prices or valuation techniques where little or no market data is available that requires inputs that are significant to the fair value measurement and unobservable.
	If the inputs used to measure the fair value fall within different levels of the hierarchy, the fair value is determined based upon the lowest level input that is significant to the fair value measurement. Whenever possible, the Company uses quoted market prices to determine fair value. In the absence of quoted market prices, the Company uses independent sources and data to determine fair value.
Interest in Unincorporated Joint Ventures or Partnerships, Policy [Policy Text Block]	'
	Accounting for Joint Ventures
	The Company first analyzes its investments in joint ventures to determine if the joint venture is a variable interest entity (a “VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation.   A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest.  VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity.  Variable interests in a VIE are contractual, ownership, or other financial interests in a VIE that change with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses at each level of the joint venture whether the entity is (i) a VIE, and (ii) if the Company is the primary beneficiary of the VIE.  If it was determined an entity in which the Company holds a joint venture interest qualified as a VIE and the Company was the primary beneficiary, it would be consolidated.
	After consideration of the VIE accounting literature and the Company has determined that VIE accounting is not applicable to the joint ventures accounting the Company assesses consolidation under all other provisions of ASC 810.  These provisions provide for consolidation for majority-owned entities through majority voting interest in the Company providing control, or through determination of control by the Company being the general partner in a limited partnership or the controlling member of a limited liability company.
	In assessing whether the Company is in control of and requiring consolidation of the limited liability company and partnership venture structures the Company evaluates the respective rights and privileges afforded each member or partner (collectively referred to as “member”).  The Company’s member would not be deemed to control the entity if any of the other members have either (i) substantive kickout rights providing the ability to dissolve (liquidate) the entity or otherwise remove the managing member or general partner without cause or (ii) has substantive participating rights in the entity.  Substantive participating rights (whether granted by contract or law) provide for the ability to effectively participate in significant decisions of the entity that would be expected to be made in the ordinary course business.
	If it has been determined that the Company does not have control under any of the above described circumstances, but does have substantive participating rights, the Company generally accounts for these unconsolidated investments under the equity method.  The equity method of accounting requires these investments to be initially recorded at cost and subsequently increased (decreased) for the Company’s share of net income (loss), including eliminations for the Company’s share of inter-company transactions, and increased (decreased) for contributions (distributions). The proportionate share of the results of operations of these investments is recorded in the Company’s earnings or losses.
Real Estate, Policy [Policy Text Block]	'
	Real Estate Assets
	Development, Improvements, Depreciation and Amortization
	Real estate costs related to the development and improvement of properties will be capitalized.  Repair and maintenance and tenant turnover costs will be charged to expense as incurred and significant replacements and betterments will be capitalized.  Repair and maintenance and tenant turnover costs include all costs that do not extend the useful life of the real estate asset.  The Company considers the period of future benefit of an asset to determine its appropriate useful life and anticipates the estimated useful lives of assets by class to be generally as follows:
	Buildings	30 – 35 years
	Building improvements	15 years
	Land improvements	15 years
	Furniture, fixtures and equipment	5 – 7 years
	In-place leases	6 months
Real Estate Purchase Price Allocation [Policy Text Block]	'
	Real Estate Purchase Price Allocation
	The Company records the acquisition of income-producing real estate or real estate that will be used for the production of income as a business combination.  All assets acquired and liabilities assumed in a business combination are measured at their acquisition date fair values.  Acquisition costs are expensed as incurred.
	Intangible assets include the value of in-place leases, which represents the estimated fair value of the net cash flows of the in-place leases to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up.  The Company amortizes the value of in-place leases to expense over the remaining non-cancelable term of the respective leases, which is on average six months.
	Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods and the number of years the property will be held for investment.  The use of inappropriate assumptions could result in an incorrect valuation of acquired tangible assets, identifiable intangible assets and assumed liabilities, which could impact the amount of the Company’s net income (loss).
Impairment Of Real Estate Assets [Policy Text Block]	'
	Impairment of Real Estate Assets
	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of the Company’s real estate and related intangible assets may not be recoverable.  When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability of the assets by estimating whether the Company will recover the carrying value of the asset through its undiscounted future cash flows and its eventual disposition.  Based on this analysis, if the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company records an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities.  If any assumptions, projections or estimates regarding any asset changes in the future, the Company may have to record an impairment to reduce the net book value of such individual asset.
Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents
	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Restricted Cash
	Restricted cash is comprised of lender impound reserve accounts on the Company’s borrowings for escrow deposits and amounts set aside for real estate taxes and insurance.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	'
	Concentration of Credit Risk
	The Company maintains cash balances with high quality financial institutions and periodically evaluates the creditworthiness of such institutions and believes that the Company is not exposed to significant credit risk.  Cash balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation.
Rents And Other Receivables [Policy Text Block]	'
	Rents and Other Receivables
	The Company will periodically evaluate the collectability of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements.  The Company exercises judgment in establishing these allowances and considers payment history and current credit status of tenants in developing these estimates.
Deferred Charges, Policy [Policy Text Block]	'
	Deferred Financing Fees
	Deferred financing fees, paid by the Company on behalf of its unconsolidated joint ventures, are recorded at cost within investments in unconsolidated real estate joint ventures and are amortized to equity in income of unconsolidated joint ventures using a straight-line method that approximates the effective interest method over the life of the related joint venture debt.
	Deferred financing fees, paid by the Company on behalf of its consolidated joint ventures, such as commitment fees, legal fees and other third party costs associated with obtaining commitments for financing, are capitalized on the balance sheet.  The Company amortizes these costs over the terms of the respective financing agreements using the interest method.
Noncontrolling Interests [Policy Text Block]	'
	Noncontrolling Interests
	Noncontrolling interests are comprised of the Company’s joint venture partners’ interests in the joint ventures in multifamily communities that the Company consolidates.  The Company reports its joint venture partners’ interest in its consolidated real estate joint ventures and other subsidiary interests held by third parties as noncontrolling interests.  The Company records these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss or equity contributions and distributions.  These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity.  Income and losses are allocated to the noncontrolling interest holder based on its economic ownership percentage.
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition
	Rental income related to leases is recognized on an accrual basis when due from residents, generally on a monthly basis.  Any deferred revenue is recorded as a liability within deferred lease revenues and other related liabilities.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	'
	Stock-Based Compensation
	The Company accounts for stock-based compensation in accordance with the provisions of the Stock Compensation Topic of the FASB ASC. This topic established a fair value based method of accounting for stock-based compensation and requires the fair value of stock-based compensation awards to amortize as an expense over the vesting period.
Distribution [Policy Text Block]	'
	Distribution Policy
	The Company has elected to be taxed as a REIT, to operate as a REIT and has qualified since its taxable year ending December 31, 2010.  To maintain its qualification as a REIT, the Company is required to make distributions each taxable year equal to at least 90% of its REIT annual taxable income (excluding net capital gains and income from operations or sales through a taxable REIT subsidiary, or TRS). The Company expects to authorize and declare regular cash distributions to its stockholders.
	Distributions to stockholders will be determined by the Company’s Board of Directors and will be dependent upon a number of factors relating to the Company, including funds available for the payment of distributions, financial condition, the timing of property acquisitions, capital expenditure requirements, and annual distribution requirements in order to maintain the Company’s status as a REIT under the Internal Revenue Code of 1986, as amended (the “Code”) and other considerations as the Board of Directors may deem relevant.
Related Party Transactions [Policy Text Block]	'
	Related Party Transactions
	Pursuant to the advisory agreement, the Company is obligated to pay the Advisor specified fees upon the provision of certain services related to, the investment of funds in real estate investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company is also obligated to reimburse the Advisor for organization and offering costs incurred by the Advisor on the Company’s behalf, and is obligated to reimburse the Advisor for acquisition expenses and certain operating expenses incurred on its behalf or incurred in connection with providing services to the Company.   The Company records all related party fees as incurred, subject to any limitations described in the advisory agreement.
Commissions, Policy [Policy Text Block]	'
	Selling Commissions and Dealer Manager Fees
	The Company pays the dealer manager up to 7% and 2.6% of the gross offering proceeds from the primary offering as selling commissions and dealer manager fees, respectively.  A reduced sales commission and dealer manager fee is paid with respect to certain volume discount sales.  No sales commission or dealer manager fee is paid with respect to shares issued through the distribution reinvestment plan.  The dealer manager may re-allow all or a portion of sales commissions earned to participating broker-dealers.  The dealer manager may re-allow, in its sole discretion, to any participating broker-dealer a portion of its dealer manager fee as a marketing fee.  For the years ended December 31, 2013 and 2012, the Company has incurred $2,137,994 and $1,994,749, respectively, of selling commissions and dealer manager fees.  The dealer manager agreement was terminated in conjunction with the termination of the Follow-On Offering, September 9, 2013.
Acquisition And Origination Fees [Policy Text Block]	'
	Acquisition and Disposition Fees
	The Company pays the Advisor an acquisition fee for its services in connection with the investigation, selection, sourcing, due diligence and acquisition of a property or investment. On September 26, 2012, the Company amended its advisory agreement to increase the acquisition fee from 1.75% to 2.50% of the purchase price. The purchase price of a property or investment will equal the amount paid or allocated to the purchase, development, construction or improvement of a property, inclusive of expenses related thereto, and the amount of debt associated with such real property or investment.
	The Company pays the Advisor a fee for its services in connection with the disposition of a property or investment equal to the lesser of (A) 1.5% of the sales price of each property or other investment sold, or (B) 50% of the selling commission that would have been paid to a third-party sales broker in connection with such disposition. On October 21, 2013, the Company amended its advisory agreement to only to allow a disposition fee of 1.5% of the sales price of each property or other investment sold. Acquisition and disposition fees of $274,411 and $3,426,267 were paid during the years ended December 31, 2013 and 2012, respectively.
Asset Management Fee [Policy Text Block]	'
	Asset Management Fee
	With respect to investments in real estate, the Company pays the Advisor a monthly asset management fee.  On September 26, 2012, the Company amended its advisory agreement to decrease the asset management fee from one-twelfth of 1% to one-twelfth of 0.65% of the amount paid or allocated to acquire the investment excluding acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment. In the case of investments made through joint ventures, the asset management fee will be determined based on our proportionate share of the underlying investment.  For the years ended December 31, 2013 and 2012, the Company had incurred approximately $522,012 and $315,696, respectively, of asset management fees.
Financing Fee [Policy Text Block]	'
	Financing Fee
	The Company pays the Advisor a financing fee equal to 1% of the amount, under any loan or line of credit, made available to us.  On October 21, 2013, the Company amended its advisory agreement to decrease the financing fee from 1% to 0.25% of any loan made to the Company.  For the year ended December 31, 2012, the Company incurred $5,891 of financing fees. The Company did not incur any financing fees for the year ended December 31, 2013.
Share-based Compensation, Option and Incentive Plans, Director Policy [Policy Text Block]	'
	Independent Director Compensation
	The Company pays each of its independent directors an annual retainer of $25,000.  In addition, the independent directors are paid for attending meetings as follows: (i) $2,500 for each Board meeting attended, (ii) $2,000 for each committee meeting attended, (iii) $1,000 for each teleconference Board meeting attended, and (iv) $1,000 for each teleconference committee meeting attended.  All directors also receive reimbursement of reasonable out-of-pocket expenses incurred in connection with attendance at meetings of the Board of Directors.  In addition 5,000 shares of restricted stock were granted upon initial election to the Board and 2,500 shares of restricted stock will be granted upon re-election to the Board. Director compensation is an operating expense of the Company that is subject to the operating expense reimbursement obligation of the Advisor discussed in Note 10, “Related Party Transactions.”
Income Tax, Policy [Policy Text Block]	'
	Income Taxes
	The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and has qualified since the taxable year ended December 31, 2010.  To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders.  Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income.  If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to continue to organize and operate in such a manner as to remain qualified for treatment as a REIT.
	For the years ended December 31, 2013 and 2012, all distributions received by the shareholders were classified as return of capital for tax purposes due to the net loss recorded by the Company.
	The Company has concluded that there are no significant uncertain tax positions requiring recognition in its financial statements.  If any income tax exposure was identified, the Company would recognize an estimated liability for income tax items that meet the criteria for accrual. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. If any interest and penalties related to income tax assessments arose, the Company would record them as income tax expense. The Company’s evaluations were performed for the tax years ending December 31, 2013 and 2012.   As of December 31, 2013, returns for the calendar years 2009 through 2012 remain subject to examination by major tax jurisdictions.  Management has considered all positions taken on the 2009 through 2012 tax returns (where applicable) and those positions expected to be taken on the 2013 tax returns.
Segment Reporting, Policy [Policy Text Block]	'
	Reportable Segment
	The Company’s current business consists of investing in and operating multifamily communities. Substantially all of its consolidated net loss is from investments in real estate properties that the Company owns through co-investment ventures which it either consolidates or accounts for under the equity method of accounting.  The Company evaluates operating performance on an individual property level and views its real estate assets as one industry segment, and, accordingly, its properties will be aggregated into one reportable segment.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	Recent Accounting Pronouncements Not Yet Adopted
	There has been no issued accounting guidance not yet adopted by the Company that it believes is material or potentially material to the Company’s Consolidated Financial Statements.

Real_Estate_Assets_Held_for_Sa1

Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests (Tables)	12 Months Ended
	Dec. 31, 2013
Real Estate Assets Held for Development and Sale [Abstract]	'
Schedule Of Real Estate Assets And Liabilities Held For Sale [Table Text Block]	'
	The real estate assets held for sale and the liabilities related to real estate assets held for sale, representative of the Creekside property and Enders property, as of December 31, 2013, were as follows:
		Real Estate Assets
		Held for Sale
		December 31, 2013
	Operating properties held for sale	$	43,458,027
	Other assets		1,452,785
	Assets held for sale	$	44,910,812
		Liabilities Related to
		Real Estate Assets
		Held for Sale
		December 31, 2013
	Property indebtedness	$	32,226,165
	Other liabilities		1,001,485
	Liabilities related to assets held for sale	$	33,227,650
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	'
	The following is a summary of results of operations of the properties classified as discontinued operations for the years ended December 31, 2013 and 2012:
		For the Years Ended December 31,
		2013		2012
	Total revenues	$	5,446,465	$	1,954,242
	Expenses
	Property operating expenses		-1,299,145		-434,773
	Management fees		-213,387		-84,656
	Depreciation and amortization		-1,708,087		-1,288,261
	General and administrative expenses		-198,806		-148,179
	Asset management and oversight fees to affiliates		-160,196		-57,439
	Real estate taxes and insurance		-973,402		-345,443
	Acquisition costs		-635		-1,132,518
	Operating Loss	$	892,807	$	-1,537,027
	Gain on business combination		-		1,242,964
	Interest exp, net		-1,249,353		-426,752
	Loss from discontinued operations	$	-356,546	$	-720,815

Investments_in_Real_Estate_Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
Schedule Of Equity Method Investments And Consolidation Accounting Investments [Table Text Block]	'
	The following table provides summary information regarding the Company’s in-service investments ($ in thousands), which are either consolidated or presented on the equity method of accounting.
									Joint Venture Equity
									Investment Information
											Our		Average		%
											Ownership		Effective		Occupied
	Multifamily		Rentable				Property				Interest in		Monthly		as of
	Community		Square		Number	Date	Acquisition		Gross Amount of		Property		Rent Per		December 31,
	Name/Location		Footage		of Units	Acquired	Cost(1)		Our Investment		Owner		Unit(2)		2013 (3)
	Springhouse at Newport News/Newport News, Virginia			310,826	432	12/3/09	$	29,250	$	2,670	38.25	%	$	800	92	%
	The Reserve at Creekside Village/Chattanooga, Tennessee			211,632	192	3/31/10	$	14,250	$	717	24.7	%	$	978	92	%
	The Estates at Perimeter/ Augusta, Georgia			266,148	240	9/1/10	$	24,950	$	1,931	25	%	$	957	88	%
	Enders Place at Baldwin Park/Orlando, Florida			234,600	198	10/2/12	$	25,100	$	4,599	48.4	%	$	1,446	95	%
	MDA Apartments/Chicago, Illinois(4)			160,290	190	12/17/12	$	54,900	$	6,098	35.31	%	$	2,152	89	%
	Total/Average			1,183,496	1,252		$	148,450	$	16,015			$	6,333	91	%
		-1	Property Acquisition Cost excludes acquisition fees and closing costs.
		-2	Average effective monthly rent per unit is equal to the average of (i) the contractual rent for commenced leases as of December 31, 2013 minus any tenant concessions over the term of the lease, divided by (ii) the number of units under commenced leases as of December 31, 2013. Total concessions for the year ended December 31, 2013 amounted to approximately $617,000.
		-3	Percent occupied is calculated as (i) the number of units occupied as of December 31, 2013, divided by (ii) total number of units, expressed as a percentage.
		-4	The rentable square footage for the MDA Apartments includes 8,200 square feet of retail space.

Consolidated_Investments_Table

Consolidated Investments (Tables)	12 Months Ended
	Dec. 31, 2013
Real Estate [Abstract]	'
Schedule of Real Estate Properties [Table Text Block]	'
	As of December 31, 2013, the major components of  the Company’s consolidated real estate properties, Springhouse at Newport News, The Reserve at Creekside Village, Enders Place at Baldwin Park, 23Hundred @ Berry Hill and MDA Apartments, were as follows:
								Furniture,
				Building and		Construction in		Fixtures and
	Property	Land		Improvements		Progress		Equipment		Totals
	Springhouse	$	6,500,000	$	27,663,473	$	-	$	1,107,824	$	35,271,297
	Creekside		1,920,000		17,953,935		-		491,111		20,365,046
	Enders		4,750,000		19,262,413		-		908,405		24,920,818
	Berry Hill		5,000,000		4,286,905		16,695,988		310,055		26,292,948
	MDA		9,500,000		51,547,961		-		615,980		61,663,941
		$	27,670,000	$	120,714,687	$	16,695,988	$	3,433,375	$	168,514,050
	Less: Accumulated Depreciation		-		-4,807,728		-		-700,977		-5,508,705
	Totals	$	27,670,000	$	115,906,959	$	16,695,988	$	2,732,398	$	163,005,345

Equity_Method_Investments_Tabl

Equity Method Investments (Tables)	12 Months Ended
	Dec. 31, 2013
Equity Method Investments and Joint Ventures [Abstract]	'
Schedule of Other Ownership Interests [Table Text Block]	'
	Following is a summary of the Company’s ownership interest by property, for investments we report under the equity method of accounting at December 31, 2013 and 2012.
	Property	Joint Venture		Managing Member		Indirect Equity
		Interest		LLC Interest		Interest in Property
	Augusta	50	%	50	%	25	%
Schedule Of Condensed Financial Statements [Table Text Block]	'
	Summary financial information for Augusta Balance Sheets as of December 31, 2013 and 2012 and Operating Statements for the years ended December 31, 2013 and 2012, is as follows:
		December 31,		December 31,
		2013		2012
	Balance Sheet:
	Real estate, net of depreciation	$	22,188,399	$	22,873,918
	Other assets		394,866		341,334
	Total assets	$	22,583,265	$	23,215,252
	Mortgage payable	$	17,600,839	$	17,896,524
	Other liabilities		139,465		155,151
	Total liabilities	$	17,740,304	$	18,051,675
	Stockholders’ equity		4,842,961		5,163,577
	Total liabilities and stockholders’ equity	$	22,583,265	$	23,215,252
		For the Years Ended December 31,
		2013		2012
	Operating Statements:
	Rental revenues	$	2,670,382	$	2,662,547
	Operating expenses		-980,362		-1,014,131
	Income before debt service, acquisition costs, and depreciation and amortization		1,690,020		1,648,416
	Mortgage interest		-763,363		-774,973
	Acquisition costs		-		-
	Depreciation and amortization		-792,069		-781,965
	Net income (loss)		134,588		91,478
	Net (income) loss attributable to JV partners		-109,900		-72,336
			24,688		19,142
	Amortization of deferred financing costs paid on		-1,284		-1,284
	behalf of joint ventures
	Equity in earnings (loss) of unconsolidated joint ventures	$	23,404	$	17,858

Mortgages_Payable_Tables

Mortgages Payable (Tables)	12 Months Ended
	Dec. 31, 2013
Debt Disclosure [Abstract]	'
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	'
	As of December 31, 2013, contractual principal payments for the five subsequent years and thereafter are as follows:
	Year	Total
	2014	$	511,600
	2015		17,194,592
	2016		1,675,851
	2017		1,710,374
	2018		1,745,595
	Thereafter		83,731,980
		$	106,569,992
	Add: Unamortized fair value debt adjustment		4,690,512
	Total	$	111,260,504

Related_Party_Transactions_Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2013
Related Party Transactions [Abstract]	'
Schedule Of Related Party Transactions [Table Text Block]	'
	Pursuant to the terms of the Advisory Agreement, summarized below are the related party amounts payable to the Advisor, as well as other affiliates, as of December 31, 2013 and 2012.  During the year ended December 31, 2013, the Company paid the Advisor approximately $645,000 of its outstanding accounts payable and has recorded a receivable of approximately $508,000 due from the Advisor for previously reimbursed organizational and offering costs.
		December 31,		December 31,
		2013		2012
	Asset management and oversight fees	$	966,396	$	426,938
	Acquisition fees		801,169		322,440
	Financing fees		35,670		5,891
	Reimbursable operating expenses		295,146		431,850
	Reimbursable offering costs		193,112		197,300
	Reimbursable organizational costs		49,931		49,931
	Other		17,748		388,217
	Total related-party amounts payable	$	2,359,172	$	1,822,567

Stockholders_Equity_Tables

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2013
Stockholders Equity Note [Abstract]	'
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	'
	The following table reconciles the components of basic and diluted net (loss) income per common share:
		For the Year Ended December 31,
		2013			2012
	Net (loss) income from continuing operations attributable to common shareholders	$	-2,751,129		$	3,732,285
	Dividends on restricted stock expected to vest		-11,136			-11,564
	Gain on redemption of common stock(2)		1,575			4,018
	Basic net (loss) income from continuing operations attributable to common shareholders	$	-2,760,690		$	3,724,739
	Net loss from discontinued operations	$	-356,546		$	-720,815
	Net loss from discontinued operations attributable to noncontrolling interest		-136,674			-909,371
	Basic net (loss) income from discontinued operations attributable to common shareholders	$	-219,872		$	188,556
	Weighted average common shares outstanding		2,348,849			1,679,778
	Potential dilutive shares (1)		-			16,475
	Weighted average common shares outstanding and potential dilutive shares		2,348,849			1,696,253
	Basic (loss) income from continuing operations per share	$	-1.18		$	2.22
	Basic (loss) income from discontinued operations per share	$	-0.09		$	0.11
	Diluted (loss) income from continued operations per share	$	-1.18		$	2.2
	Diluted (loss) income from discontinued operations per share	$	-0.09		$	0.11
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	'
	A summary of the status of the Company’s non-vested shares as of December 31, 2013 and 2012, is as follows:
	Non Vested shares	Shares		Weighted average
				grant-date fair
				value
	Balance at January 1, 2012	16,500			165,000
	Granted	7,500			75,000
	Vested	-7,500			-75,000
	Forfeited	-			-
	Balance at December 31, 2012	16,500			165,000
	Granted	7,500			75,000
	Vested	-9,000			-90,000
	Forfeited	-			-
	Balance at December 31, 2013	15,000		$	150,000
Schedule of Distributions Made to Members or Limited Partners, by Distribution [Table Text Block]	'
	Distributions, including distributions paid by issuing shares under the distribution reinvestment plan, for the year ended December 31, 2013 were as follows:
		Distributions
	2013	Declared				Paid
	First Quarter	$	393,291			$	385,167
	Second Quarter		412,265				413,477
	Third Quarter		426,066				423,134
	Fourth Quarter		425,648				421,686
		$	1,657,270			$	1,643,464

Subsequent_Events_Tables

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2013
Subsequent Events [Abstract]	'
Schedule of Subsequent Events [Table Text Block]	'
	The following distributions have been declared and paid subsequent to December 31, 2013:
	Distributions
	Declared Daily
	For Month			Total Cash
	Listed	Date Paid		Distribution
	Dec-13		2-Jan-14	$	143,504
	Jan-14		3-Feb-14	$	143,504

Organization_and_Nature_of_Bus1

Organization and Nature of Business (Details Textual) (USD $)	1 Months Ended	12 Months Ended								1 Months Ended
	Aug. 31, 2013	Dec. 31, 2013	Sep. 09, 2013	Aug. 29, 2013	Apr. 12, 2013	Dec. 31, 2012	Sep. 30, 2012	Sep. 20, 2012	Aug. 22, 2008	Aug. 31, 2013	Aug. 13, 2013
										HundredBerryHill [Member]	HundredBerryHill [Member]
Organization and Nature of Business [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Entity Incorporation, Date of Incorporation	'	25-Jul-08	'	'	'	'	'	'	'	'	'
Entity Incorporation, State Country Name	'	'Maryland	'	'	'	'	'	'	'	'	'
Common Stock, Shares Authorized (in shares)	'	749,999,000	'	'	'	749,999,000	'	'	1,000,000,000	'	'
Common Stock Offering Price Per Share (in dollars per share)	'	'	'	'	'	'	$10	$10	$10	'	'
Common Stock Shares Available For Discount (in shares)	'	'	'	'	'	'	'	'	285,000,000	'	'
Initial Public Offering Value Per Share (in dollars per share)	'	'	'	'	'	'	'	$9.50	$9.50	'	'
Initial Public Offering Shares Redeemed (in shares)	'	45,850	'	'	'	'	'	'	'	'	'
Initial Public Offering Value Redeemed	'	$433,532	'	'	'	'	'	'	'	'	'
Registration Of Common Stock	'	'	'	'	'	'	'	500,000,000	'	'	'
Proceeds From Gross Offering	'	'	330,251	'	22,231,406	'	'	50,000,000	'	'	'
Sale of joint venture ownership percentage	'	'	'	'	'	'	'	'	'	'	10.27%
Equity Method Investment, Ownership Percentage	'	'	'	28.36%	'	'	'	'	'	'	53.46%
Sale of joint venture equity interest for affiliate	'	8,300,000	'	5,524,412	'	'	'	'	'	'	2,000,040
Disposition Fees	191,886	'	'	'	'	'	'	'	'	69,470	'
Maximum Gross Proceeds From Distribution Reinvestment Plan	'	'	275,848	'	'	'	'	'	'	'	'
Outstanding accounts Payable Paid By Advisor	'	$645,000	'	'	'	'	'	'	'	'	'
Line of Credit Facility, Description	'matures in April 2014 but may be extended at our election for an additional six months.	'	'	'	'	'	'	'	'	'	'

Basis_of_Presentation_and_Summ2

Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) (USD $)	1 Months Ended		12 Months Ended
	Oct. 31, 2013	Sep. 26, 2012	Dec. 31, 2013	Dec. 31, 2012
Accounting Policies [Line Items]	'	'	'	'
Selling Commissions and Dealer Manager Fees Percentage Rate Range Maximum	'	'	7.00%	'
Selling Commissions and Dealer Manager Fees Percentage Rate Range Minimum	'	'	2.60%	'
Selling Commissions and Dealer Manager Fees	'	'	$2,137,994	$1,994,749
Taxable Income Percentage	'	'	90.00%	'
Acquisition and Disposition Fees	'	'	274,411	3,426,267
Asset Management Fee Percent Fee Description	'	'On September 26, 2012, the Company amended its advisory agreement to decrease the asset management fee from one-twelfth of 1% to one-twelfth of 0.65% of the amount paid or allocated to acquire the investment excluding acquisition fees and expenses related thereto and the amount of any debt associated with or used to acquire such investment. In the case of investments made through joint ventures, the asset management fee will be determined based on our proportionate share of the underlying investment.	'	'
Finance Fee	'	'	'	5,891
Independent Director Compensation	'	'	25,000	'
Additional Director Compensation Paid For Board Meeting	'	'	2,500	'
Additional Director Compensation Paid For Committee Board Meeting	'	'	2,000	'
Additional Director Compensation Paid For Teleconference Board Meeting	'	'	1,000	'
Additional Director Compensation Paid For Teleconference Committee Meeting	'	'	1,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Net of Forfeitures, Total	'	'	5,000	'
Restricted Stock Granted For Reelection To Board	'	'	2,500	'
Asset Management Fees	'	'	$522,012	$315,696
Acquisition And Disposition Fees Percentage	1.50%	'	'	'
Selling Commission Percentage	50.00%	'	50.00%	'
Minimum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
Acquisition Fee Percentage Of Purchase Price	'	1.75%	'	'
Finance Fee Percentage	'	'	0.25%	'
Maximum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
Acquisition Fee Percentage Of Purchase Price	'	2.50%	'	'
Finance Fee Percentage	'	'	1.00%	'
Building [Member] | Minimum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'30 years	'
Building [Member] | Maximum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'35 years	'
Building Improvements [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'15 years	'
Land Improvements [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'15 years	'
Furniture and Fixtures [Member] | Minimum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'5 years	'
Furniture and Fixtures [Member] | Maximum [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'7 years	'
In-Place Leases [Member]	'	'	'	'
Accounting Policies [Line Items]	'	'	'	'
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	'	'	'6 months	'

Real_Estate_Assets_Held_for_Sa2

Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Real Estate Assets Held for Development and Sale [Line Items]	'	'
Operating properties held for sale	$43,458,027	$0
Other assets	1,452,785	'
Assets held for sale	44,910,812	'
Property Indebtedness	32,226,165	'
Other liabilities	1,001,485	'
Liabilities related to assets held for sale	$33,227,650	'

Real_Estate_Assets_Held_for_Sa3

Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]	'	'
Total revenues	$5,446,465	$1,954,242
Expenses	'	'
Property operating expenses	-1,299,145	-434,773
Management fees	-213,387	-84,656
Depreciation and amortization	-1,708,087	-1,288,261
General and administrative expenses	-198,806	-148,179
Asset management and oversight fees to affiliates	-160,196	-57,439
Real estate taxes and insurance	-973,402	-345,443
Acquisition costs	-635	-1,132,518
Operating Loss	892,807	-1,537,027
Gain on business combination	0	1,242,964
Interest exp, net	-1,249,353	-426,752
Loss from discontinued operations	($356,546)	($720,815)

Real_Estate_Assets_Held_for_Sa4

Real Estate Assets Held for Sale and Sale of Joint Venture Equity Interests (Details Textual) (USD $)

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

1 Months Ended

12 Months Ended

Aug. 31, 2013

Jun. 30, 2012

Dec. 31, 2013

Aug. 29, 2013

Aug. 31, 2013

Oct. 31, 2012

Dec. 31, 2012

Dec. 31, 2013

Aug. 13, 2013

Oct. 18, 2012

Aug. 31, 2013

Aug. 29, 2013

Dec. 31, 2013

Jun. 30, 2012

Dec. 31, 2012

Jun. 30, 2012

Dec. 31, 2012

Jun. 30, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Dec. 31, 2012

Berry Hill Property [Member]

Berry Hill Property [Member]

Berry Hill Property [Member]

Berry Hill Property [Member]

Berry Hill Property [Member]

Berry Hill Property [Member]

SOIF III [Member]

SOIF III [Member]

Hillsboro Managing JV Entity [Member]

BR Meadowmont Managing JV Entity [Member]

Spring House [Member]

Spring House [Member]

Spring House [Member]

Creekside [Member]

Creekside [Member]

Creekside [Member]

Mda Apartments [Member]

Enders [Member]

Minimum [Member]

Maximum [Member]

Minimum [Member]

Real Estate Assets Held for Development and Sale [Line Items]

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

Sale of joint venture ownership percentage

'

'

'

'

'

'

'

25.10%

10.27%

'

'

28.36%

'

'

'

'

'

'

'

'

'

'

Equity Method Investment, Ownership Percentage

'

'

'

28.36%

'

'

58.58%

'

53.46%

5.16%

'

'

'

'

51.00%

1.00%

50.00%

2.00%

35.33%

33.33%

35.31%

48.40%

Sale of joint venture equity interest for affiliate

'

'

$8,300,000

$5,524,412

'

'

'

'

$2,000,040

'

'

$5,524,412

$2,439,204

$3,113,581

'

'

'

'

'

'

'

'

Disposition Fees

191,886

'

'

'

69,470

'

'

'

'

'

191,886

'

82,500

136,216

'

'

'

'

'

'

'

'

Proceeds from Divestiture of Interest in Joint Venture

'

'

'

'

'

'

'

'

'

'

'

'

1,686,877

'

'

'

'

'

'

'

'

'

Sale Of Joint Venture Equity Interest For Un Affiliate

'

'

'

'

'

'

'

'

'

'

'

'

44,000,000

'

'

'

'

'

'

'

'

'

Noncontrolling Interest, Increase from Sale of Parent Equity Interest

'

'

3,699,267

'

971,699

'

'

'

'

'

2,727,568

'

'

2,014,533

'

'

'

'

'

'

'

'

Payments to Acquire Interest in Joint Venture

'

202,532

'

'

'

369,034

3,788,725

'

'

'

'

'

'

'

'

'

'

'

'

'

6,098,306

4,716,846

Business Combination, Step Acquisition, Equity Interest in Acquiree, Remeasurement Gain

'

$3,450,460

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

'

$7,297,942

'

Investments_in_Real_Estate_Det

Investments in Real Estate (Details) (USD $)

Dec. 31, 2013

Dec. 31, 2012

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Dec. 31, 2013

Number

Spring House [Member]

Creekside [Member]

Augusta [Member]

Orlando [Member]

Chicago [Member]

sqft

Number

sqft

Number

Number

sqft

sqft

Number

sqft

sqft

Number

SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]

'

'

'

'

'

'

'

Approx. Rentable Square Footage

1,183,496

'

310,826

211,632

266,148

234,600

160,290

[1]

Number of Units

1,252

'

432

192

240

198

190

[1]

Date Acquired

'

'

3-Dec-09

31-Mar-10

1-Sep-10

2-Oct-12

17-Dec-12

[1]

Property Acquisition Cost

$148,450,000

[2]

'

$29,250,000

[2]

$14,250,000

[2]

$24,950,000

[2]

$25,100,000

[2]

$54,900,000

[1],[2]

Gross Amount of Our Investment

$119,547,318

$146,589,933

$2,670,000

$717,000

$1,931,000

$4,599,000

$6,098,000

[1]

Our Ownership Interest in Property Owner

'

'

38.25%

24.70%

25.00%

48.40%

35.31%

[1]

Average Annual Effective Rent Per Unit

6,333,000

[3]

'

800,000

[3]

978,000

[3]

957,000

[3]

1,446,000

[3]

2,152,000

[1],[3]

Approx. % Leased

91.00%

[4]

'

92.00%

[4]

92.00%

[4]

88.00%

[4]

95.00%

[4]

89.00%

[1],[4]

[1]

The rentable square footage for the MDA Apartments includes 8,200 square feet of retail space.

[2]

Property Acquisition Cost excludes acquisition fees and closing costs.

[3]

Average effective monthly rent per unit is equal to the average of (i) the contractual rent for commenced leases as of December 31, 2013 minus any tenant concessions over the term of the lease, divided by (ii) the number of units under commenced leases as of December 31, 2013. Total concessions for the year ended December 31, 2013 amounted to approximately $617,448.

[4]

Percent occupied is calculated as (i) the number of units occupied as of December 31, 2013, divided by (ii) total number of units, expressed as a percentage.

Investments_in_Real_Estate_Det1

Investments in Real Estate (Details Textual) (USD $)	12 Months Ended			12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Aug. 29, 2013	Dec. 31, 2013	Dec. 31, 2012	Dec. 17, 2012	Oct. 18, 2012
	sqft			Berry Hill Development [Member]	Berry Hill Development [Member]	Berry Hill Development [Member]	Berry Hill Development [Member]
				sqft
Real Estate Property [Line Items]	'	'	'	'	'	'	'
Real Estate Accumulated Depreciation, Depreciation Expense	$4,358,584	$1,150,449	'	'	'	'	'
Amortization of Deferred Leasing Fees	1,454,192	1,685,593	'	'	'	'	'
Security Deposits Received	234,184	234,370	'	'	'	'	'
Our Ownership Interest in Property Owner	'	'	28.36%	'	'	5.16%	58.58%
Approx. Rentable Square Footage	1,183,496	'	'	194,275	'	'	'
Investments	'	'	'	'	'	4,200,000	'
Approximate Rentable Square Footage For Mda Apartments	8,200	'	'	'	'	'	'
Concessions Costs	617,000	'	'	'	'	'	'
Projected Development Costs	33,700,000	'	'	27,700,000	'	'	'
Projected Development Costs Per Unit	129,580	'	'	'	'	'	'
Sale of joint venture equity interest for affiliate	8,300,000	'	5,524,412	'	'	'	'
Equity Method Investments	$1,254,307	$2,398,902	'	'	$4,157,759	'	'

Consolidated_Investments_Detai

Consolidated Investments (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	$123,228,186	$147,740,410
Less: Accumulated Depreciation	-3,680,868	-1,150,477
Totals	163,005,345	146,589,933
Spring House [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	35,271,297	'
Creekside [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	20,365,046	'
Enders [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	24,920,818	'
Berry Hill [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	26,292,948	'
MDA [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	61,663,941	'
Land [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	27,670,000	'
Less: Accumulated Depreciation	0	'
Totals	27,670,000	'
Land [Member] | Spring House [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	6,500,000	'
Land [Member] | Creekside [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	1,920,000	'
Land [Member] | Enders [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	4,750,000	'
Land [Member] | Berry Hill [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	5,000,000	'
Land [Member] | MDA [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	9,500,000	'
Building and Building Improvements [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	120,714,687	'
Less: Accumulated Depreciation	-4,807,728	'
Totals	115,906,959	'
Building and Building Improvements [Member] | Spring House [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	27,663,473	'
Building and Building Improvements [Member] | Creekside [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	17,953,935	'
Building and Building Improvements [Member] | Enders [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	19,262,413	'
Building and Building Improvements [Member] | Berry Hill [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	4,286,905	'
Building and Building Improvements [Member] | MDA [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	51,547,961	'
Construction in Progress [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	16,695,988	'
Less: Accumulated Depreciation	0	'
Totals	16,695,988	'
Construction in Progress [Member] | Spring House [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	0	'
Construction in Progress [Member] | Creekside [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	0	'
Construction in Progress [Member] | Enders [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	0	'
Construction in Progress [Member] | Berry Hill [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	16,695,988	'
Construction in Progress [Member] | MDA [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	0	'
Furniture, Fixtures and Equipment [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	3,433,375	'
Less: Accumulated Depreciation	-700,977	'
Totals	2,732,398	'
Furniture, Fixtures and Equipment [Member] | Spring House [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	1,107,824	'
Furniture, Fixtures and Equipment [Member] | Creekside [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	491,111	'
Furniture, Fixtures and Equipment [Member] | Enders [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	908,405	'
Furniture, Fixtures and Equipment [Member] | Berry Hill [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	310,055	'
Furniture, Fixtures and Equipment [Member] | MDA [Member]	'	'
Real Estate Property [Line Items]	'	'
Total Gross Real Estate Investments	$615,980	'

Equity_Method_Investments_Deta

Equity Method Investments (Details)	Aug. 29, 2013	Dec. 31, 2013	Dec. 31, 2013	Dec. 31, 2013
		Augusta [Member]	Augusta [Member]	Augusta [Member]
		Joint Venture Interest [Member]	Managing Member LLC Interest [Member]	Indirect Equity Interest In Property [Member]
Schedule of Equity Method Investments [Line Items]	'	'	'	'
Our Ownership Interest in Property Owner	28.36%	50.00%	50.00%	25.00%

Equity_Method_Investments_Deta1

Equity Method Investments (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Balance Sheet:	'	'
Real estate, net of depreciation	$22,188,399	$22,873,918
Other assets	394,866	341,334
Total assets	22,583,265	23,215,252
Mortgage payable	17,600,839	17,896,524
Other liabilities	139,465	155,151
Total liabilities	17,740,304	18,051,675
Stockholders' equity	4,842,961	5,163,577
Total liabilities and stockholders' equity.	22,583,265	23,215,252
Operating Statements:	'	'
Rental revenues	2,670,382	2,662,547
Operating expenses	-980,362	-1,014,131
Income before debt service, acquisition costs, and depreciation and amortization	1,690,020	1,648,416
Mortgage interest	-763,363	-774,973
Acquisition costs	0	0
Depreciation and amortization	-792,069	-781,965
Net income (loss)	134,588	91,478
Net (income) loss attributable to JV partners	-109,900	-72,336
Net Income Loss Equity Method Investment Total	24,688	19,142
Amortization of deferred financing costs paid on behalf of joint ventures	-1,284	-1,284
Equity in earnings (loss) of unconsolidated joint ventures	$23,404	$17,858

Equity_Method_Investments_Deta2

Equity Method Investments (Details Textual) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Equity Method Investment And Joint Venture [Line Items]	'	'
Investments in unconsolidated real estate joint ventures	$1,212,456	$1,297,946

Mortgages_Payable_Details

Mortgages Payable (Details) (USD $)	Dec. 31, 2013
Line of Credit Facility [Line Items]	'
2014	$511,600
2015	17,194,592
2016	1,675,851
2017	1,710,374
2018	1,745,595
Thereafter	83,731,980
Long-term Debt, Total	106,569,992
Add: Unamortized fair value debt adjustment	4,690,512
Total	$111,260,504

Mortgages_Payable_Details_Text

Mortgages Payable (Details Textual) (USD $)	12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended		12 Months Ended
	Dec. 31, 2009	Dec. 03, 2009	Dec. 31, 2010	Oct. 13, 2010	Dec. 31, 2012	Oct. 02, 2012	Dec. 31, 2012	Dec. 17, 2012	Dec. 31, 2013	Dec. 31, 2012	Oct. 18, 2012
	Spring House [Member]	Spring House [Member]	Creekside [Member]	Creekside [Member]	Enders [Member]	Enders [Member]	Mda [Member]	Mda [Member]	Berry Hill [Member]	Berry Hill [Member]	Berry Hill [Member]
Line of Credit Facility [Line Items]	'	'	'	'	'	'	'	'	'	'	'
Secured Long-term Debt, Noncurrent	'	$23,400,000	'	$12,972,200	'	$17,500,000	'	$37,600,000	'	'	$23,569,000
Debt Instrument, Maturity Date	1-Jan-20	'	1-Nov-50	'	1-Nov-22	'	1-Jan-23	'	'	30-Sep-15	'
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate	'	5.66%	'	4.60%	'	3.97%	'	5.35%	'	'	'
Long-term Debt, Percentage Bearing Fixed Interest, Amount	'	'	'	'	'	$83,245	'	$209,964	'	'	'
Percentage Of Prepayment Premium	1.00%	'	8.00%	'	1.00%	'	1.00%	'	'	'	'
Percentage Reduction In Prepayment Premium	'	'	1.00%	'	'	'	'	'	'	'	'
Debt Instrument, Description of Variable Rate Basis	'	'	'	'	'	'	'	'	'	'three-month LIBOR plus 2.75% during construction and three-month LIBOR plus 2.50% upon construction completion.	'
Debt Instrument, Interest Rate During Period	'	'	'	'	'	'	'	'	3.00%	'	'

Line_of_Credit_Details_Textual

Line of Credit (Details Textual) (USD $)	1 Months Ended		12 Months Ended
	Aug. 31, 2013	Oct. 31, 2012	Dec. 31, 2013	Oct. 31, 2013	Dec. 31, 2012	Oct. 02, 2012
Line of Credit Facility [Line Items]	'	'	'	'	'	'
Line of Credit Facility, Maximum Borrowing Capacity	'	'	'	'	'	$12,500,000
Line of credit (Note 8)	'	'	7,571,223	'	11,935,830	'
Line of Credit Facility, Amount Outstanding	'	'	564,170	100,000	'	'
Line of Credit Facility, Increase, Accrued Interest	'	'	13,500,000	'	'	'
Line of Credit Facility, Expiration Date	'	'	2-Apr-13	'	'	'
Line of Credit Facility, Interest Rate Description	'	'at a rate of 30-day LIBOR + 6.00%, subject to a minimum rate of 7.50%, annualized for three months, and thereafter to bear interest compounding monthly at a rate of 30-day LIBOR + 6.00%, subject to a minimum rate of 8.50% for the remainder of the initial term	'	'	'	'
Extension Fee Percentage	1.00%	'	'	'	'	'
Extension Fee	$75,356	'	'	'	'	'
Line of Credit Facility, Interest Rate During Period	10.00%	'	'	'	'	'
Additional Extension Fee Percentage	1.00%	'	'	'	'	'

Fair_Value_Measurement_Financi1

Fair Value Measurement Financial Instruments (Details Textual) (USD $)	Dec. 31, 2013
In Millions, unless otherwise specified
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]	'
Mortgage Payable At Carrying Value	$111.30
Mortgage Payable At Fair Value	$111

Related_Party_Transactions_Det

Related Party Transactions (Details) (USD $)	Dec. 31, 2013	Dec. 31, 2012
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	$1,954,208	$1,822,567
Asset Management Fees Member [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	966,396	426,938
Acquisitions Fees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	801,169	322,440
Financing Fees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	35,670	5,891
Reimbursable Operating Expenses [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	295,146	431,850
Reimbursable Offering Costs [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	193,112	197,300
Reimbursable Organizational Costs [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	49,931	49,931
Others [Member]	'	'
Related Party Transaction [Line Items]	'	'
Total related-party amounts payable	$17,748	$388,217

Related_Party_Transactions_Det1

Related Party Transactions (Details Textual) (USD $)	1 Months Ended		12 Months Ended
	Oct. 31, 2013	Sep. 26, 2012	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2010	Aug. 29, 2013
Related Party Transaction [Line Items]	'	'	'	'	'	'
Organizational and Offering Costs	'	'	$2,396,605	'	'	'
Maximum Percentage Reimbursement Of Organizational and Offering Costs	'	'	15.00%	'	'	'
Offering Costs Charged To Stockholders Equity	'	'	3,622,471	'	49,931	'
Advisory Agreement, Expiry Date	'	'	14-Oct-14	'	'	'
Asset Management Fees, Description	'	'asset management fee from one-twelfth of 1.0% of the higher of the cost or the value of each asset to one-twelfth of 0.65% of the higher of the cost or the value of each asset	'	'	'	'
Acquisition and Disposition Fees	'	'	274,411	3,426,267	'	'
Sales Price Percentage	1.50%	'	1.50%	'	'	'
Selling Commission Percentage	50.00%	'	50.00%	'	'	'
Percentage Exceed In Contract Sales Price	'	'	6.00%	'	'	'
Percentage Exceed Relates To Operating Expenses	'	'	2.00%	2.00%	'	'
Percentage Determined For Net Income	'	'	25.00%	'	'	'
Convertible Preferred Stock, Shares Issued upon Conversion	'	'	1,000	'	'	'
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)	'	'	$0.01	$0.01	'	'
Excess Of Cumulative Percentage	'	'	15.00%	'	'	'
Cumulative Percentage	'	'	8.00%	'	'	'
Oversight Fee Percentage	'	'	1.00%	'	'	'
Due from affiliates	'	'	511,472	5,024	'	'
Line of Credit Facility, Periodic Payment	'	'	1,949,038	'	'	'
Sale of joint venture equity interest for affiliate	'	'	8,300,000	'	'	5,524,412
Outstanding accounts Payable Paid By Advisor	'	'	645,000	'	'	'
Reimbursement Of Organizational And Offering Costs	'	'	'	'	508,000	'
Reimbursement Of Organizational And Offering Costs Exceeded Percentage	'	'	15.00%	'	'	'
Reimbursed Organizational And Offering Costs Recorded As Receivable	'	'	508,000	'	'	'
Cost of Reimbursable Expense	'	'	539,990	295,069	'	'
Outstanding Accounts Receivable From Advisor	'	'	$508,000	'	'	'
Minimum [Member]	'	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'	'
Percentage Of Financing Fees Receivable	0.25%	'	'	'	'	'
Related Party Transaction Acquisition Fee Percentage	'	1.75%	'	'	'	'
Maximum [Member]	'	'	'	'	'	'
Related Party Transaction [Line Items]	'	'	'	'	'	'
Percentage Of Financing Fees Receivable	1.00%	'	'	'	'	'
Related Party Transaction Acquisition Fee Percentage	'	2.50%	'	'	'	'

Stockholders_Equity_Details

Stockholders' Equity (Details) (USD $)	12 Months Ended
	Dec. 31, 2013		Dec. 31, 2012
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'		'
Net (loss) income from continuing operations attributable to common shareholders	($2,751,129)		$3,732,285
Dividends on restricted stock expected to vest	-11,136		-11,564
Gain on redemption of common stock	1,575	[1]	4,018	[1]
Basic net (loss) income from continuing operations attributable to common shareholders	-2,760,690		3,724,739
Net loss from discontinued operations	-356,546		-720,815
Net loss from discontinued operations attributable to noncontrolling interest	-136,674		-909,371
Basic net (loss) income from discontinued operations attributable to common shareholders	($219,872)		$188,556
Weighted average common shares outstanding (in shares)	2,348,849		1,679,778
Potential dilutive shares (in shares)	0	[2]	16,475	[2]
Weighted average common shares outstanding and potential dilutive shares (in shares)	2,348,849		1,696,253
Basic (loss) income from continuing operations per share (in dollar per share)	($1.18)		$2.22
Basic (loss) income from discontinued operations per share (in dollar per share)	($0.09)		$0.11
Diluted (loss) income from continued operations per share (in dollars per share)	($1.18)		$2.20
Diluted (loss) income from discontinued operations per share (in dollars per share)	($0.09)		$0.11
[1]	Represents the difference between the fair value and carrying amount of the common stock upon redemption.
[2]	Excludes 15,908 shares related to non-vested restricted stock for the year ended December 31, 2013, as the effect would be anti-dilutive. Also excludes any dilution related to the 1,000 shares of convertible stock as the conversion would be anti-dilutive and currently there would be no conversion into common shares.

Stockholders_Equity_Details_1

Stockholders' Equity (Details 1) (USD $)	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Non Vested shares, Balance (in shares)	16,500	16,500
Non Vested shares, Granted (in shares)	7,500	7,500
Non Vested shares, Vested (in shares)	-9,000	-7,500
Non Vested shares, Forfeited (in shares)	0	0
Non Vested shares, Balance (in shares)	15,000	16,500
Weighted average grant-date fair value, Balance (in dollars)	$165,000	$165,000
Weighted average grant-date fair value, Granted (in dollars)	75,000	75,000
Weighted average grant-date fair value, Vested (in dollars)	-90,000	-75,000
Weighted average grant-date fair value, Forfeited (in dollars)	0	0
Weighted average grant-date fair value, Balance (in dollars)	$150,000	$165,000

Stockholders_Equity_Details_2

Stockholders' Equity (Details 2) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]	'	'	'	'	'
Distributions Declared	$425,648	$426,066	$412,265	$393,291	$1,657,270
Distributions Paid	$421,686	$423,134	$413,477	$385,167	$1,643,464

Stockholders_Equity_Details_Te

Stockholders' Equity (Details Textual) (USD $)	1 Months Ended		3 Months Ended	12 Months Ended
	Aug. 31, 2013	Sep. 30, 2012	Jun. 30, 2013	Dec. 31, 2013	Dec. 31, 2012	Sep. 09, 2013	Apr. 12, 2013	Dec. 17, 2012	Sep. 20, 2012	Aug. 22, 2008
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	'	'	15,908	'	'	'	'	'	'
Proceeds From Issuance Of Common Stock Dividend Reinvestment Plan	'	'	'	'	$454,711	'	'	'	'	'
Maximum Additional Payments For Repurchase Of Common Stock	'	59,005	'	395,706	'	'	'	'	'	'
Share- Based Compensation Restricted Stock Issued To Directors (in shares)	'	'	'	5,000	'	'	'	'	'	'
Share- Based Compensation Restricted Stock To Be Issued To Re-elected Directors (in shares)	2,500	'	'	2,500	'	'	'	'	'	'
Restricted Stock Vested Percentage One	'	'	'	20.00%	'	'	'	'	'	'
Restricted Stock Vested Percentage Two	'	'	'	20.00%	'	'	'	'	'	'
Share Based Compensation Arrangement By Share Based Payments Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value	'	'	'	90,000	75,000	'	'	'	'	'
Distributions Calculated Description	'	'	'	'Distributions were calculated based on stockholders of record per day during the period. Cash distributions were calculated at a rate of $0.00191781 per share of common stock per day, which would equal a daily amount that, if paid each day for a 365-day period, would equal a 7.0% annualized rate based on a purchase price of $10.00 per share. Stock distributions were calculated at a rate of $0.00219178 per share of common stock per day, which would equal a daily amount that, if paid each day for a 365-day period, would equal an 8.0% annualized rate based on a purchase price of $10.00 per share	'	'	'	'	'	'
Partners' Capital Account, Redemptions	'	'	'	98,425	23,125	'	'	'	'	'
Redemption Of Common Stock	'	'	'	25,129	'	'	'	'	'	'
Deferred Redemption Of Common Stock	'	'	'	7,500	'	'	'	'	'	'
Repurchase Price Per Share Redeemable Common Stock	'	'	'	$9.84	'	'	'	'	'	'
Registration Of Common Stock	'	'	'	'	'	'	'	'	500,000,000	'
Common Stock Offering Price Per Share (in dollars per share)	'	$10	'	'	'	'	'	'	$10	$10
Proceeds From Gross Offering	'	'	'	'	'	330,251	22,231,406	'	50,000,000	'
Unrecognized Stock Based Compensation	'	'	'	118,750	'	'	'	'	'	'
Common stock, shares authorized	'	'	'	749,999,000	749,999,000	'	'	'	'	1,000,000,000
Distribution Reinvestment Value Per Share	'	'	'	'	'	'	'	'	$9.50	'
Redemption of common stock value	'	'	'	75,300	'	'	'	'	'	'
Share Repurchase Requests Received From Stockholders Suspended, Shares	'	'	17,629	'	'	'	'	'	'	'
Share Repurchase Requests Received From Stockholders Suspended, Value	'	'	169,366	'	'	'	'	'	'	'
Conversion of Stock, Shares Issued	'	'	'	1,000	'	'	'	'	'	'
Conversion of Stock, Amount Issued	'	'	'	$1,000	'	'	'	'	'	'
Conversion of Stock, Description	'	'	'	'the convertible stock will convert to shares of common stock with a value equal to 15% of the excess	'	'	'	'	'	'
Repurchase Limit Percentage	'	'	'	5.00%	'	'	'	'	'	'
Repurchase Plan Price Per Share	'	'	'	'	'	'	'	$10.04	'	'
Estimated Net Asset Value Per Share	'	'	'	$9.04	'	'	'	'	'	'
Estimated Net Asset Value Percentage	'	'	'	90.00%	'	'	'	'	'	'
Purchase Of Common Stock Average Price Per Share Percentage	'	'	'	100.00%	'	'	'	'	'	'
Common Stock Purchase Price Description	'	'	'	'the aggregate purchase price paid by stockholders for shares in the Company plus a 8% cumulative, non-compounded, annual return on the original issue price paid for those outstanding shares	'	'	'	'	'	'
Convertible Stock [Member]	'	'	'	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	'	'	'	1,000	'	'	'	'	'	'
Independent Directors [Member]	'	'	'	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Share- Based Compensation Restricted Stock Issued To Directors (in shares)	'	'	'	5,000	'	'	'	'	'	'
Share- Based Compensation Restricted Stock To Be Issued To Re-elected Directors (in shares)	'	'	'	2,500	'	'	'	'	'	'
Reinvestment Plan [Member]	'	'	'	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Common stock, shares authorized	'	'	'	1,000,000,000	'	'	'	'	'	'
Distribution Reinvestment Value Per Share	'	'	'	$10	'	'	'	'	'	'
Common Stock [Member]	'	'	'	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Common stock, shares authorized	'	'	'	28,500,000	'	'	'	'	'	'
Distribution Reinvestment Value Per Share	'	'	'	$9.50	'	'	'	'	'	'
Incentive Plan [Member]	'	'	'	'	'	'	'	'	'	'
Class of Stock [Line Items]	'	'	'	'	'	'	'	'	'	'
Common stock, shares authorized	'	'	'	2,000,000	'	'	'	'	'	'

Subsequent_Events_Details

Subsequent Events (Details) (USD $)	3 Months Ended				12 Months Ended
	Dec. 31, 2013	Sep. 30, 2013	Jun. 30, 2013	Mar. 31, 2013	Dec. 31, 2013
Subsequent Event [Line Items]	'	'	'	'	'
Total Cash Distribution	$421,686	$423,134	$413,477	$385,167	$1,643,464
December 2013 [Member]	'	'	'	'	'
Subsequent Event [Line Items]	'	'	'	'	'
Distributions Declared Daily For For Month Listed	'	'	'	'	'December 2013
Date Paid	'	'	'	'	2-Jan-14
Total Cash Distribution	'	'	'	'	143,504
January 2014 [Member]	'	'	'	'	'
Subsequent Event [Line Items]	'	'	'	'	'
Distributions Declared Daily For For Month Listed	'	'	'	'	'January 2014
Date Paid	'	'	'	'	3-Feb-14
Total Cash Distribution	'	'	'	'	$143,504

Subsequent_Events_Details_Text

Subsequent Events (Details Textual) (USD $)	Aug. 29, 2013	Dec. 31, 2013
		Subsequent Event [Member]
		Creekside [Member]
Subsequent Event [Line Items]	'	'
Equity Method Investment, Ownership Percentage	28.36%	24.71%
Proceeds From Sale Of Property	'	$19,600,000
Aggregate Indebtedness, Total	'	12,600,000
Proceeds Towards Earnest Money	'	250,000
Net Proceeds From Sale Of Property	'	$1,350,000