Bluerock Residential Growth REIT (BRG) 10-Q 12 Nov 15 2015 Q3 Quarterly report Financial data

Document And Entity Information

Document And Entity Information - shares	9 Months Ended
	Sep. 30, 2015	Nov. 04, 2015
Document Information [Line Items]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	Q3
Entity Registrant Name	Bluerock Residential Growth REIT, Inc.
Current Fiscal Year End Date	--12-31
Entity Filer Category	Smaller Reporting Company
Entity Central Index Key	1,442,626
Common Class A [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		19,201,565
Common Class B3 [Member]
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		353,629

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Net Real Estate Investments
Land	$ 53,335	$ 37,909
Buildings and improvements	369,496	240,074
Furniture, fixtures and equipment	10,910	6,481
Total Gross Operating Real Estate Investments	433,741	284,464
Accumulated depreciation	(19,220)	(10,992)
Total Net Operating Real Estate Investments	414,521	273,472
Operating real estate held for sale, net	15,185	14,939
Total Net Real Estate Investments	429,706	288,411
Cash and cash equivalents	64,933	23,059
Restricted cash	11,200	11,091
Due from affiliates	914	570
Accounts receivable, prepaid and other assets	4,015	753
Investments in unconsolidated real estate joint ventures	55,326	18,331
In-place lease intangible assets, net	1,315	745
Deferred financing costs, net	2,953	2,199
Non-real estate assets associated with operating real estate held for sale	992	927
Total Assets	571,354	346,086
LIABILITIES AND EQUITY
Mortgages payable	301,268	201,343
Mortgage payable associated with operating real estate held for sale	11,500	11,500
Accounts payable	659	634
Other accrued liabilities	7,585	3,345
Due to affiliates	1,669	1,946
Distributions payable	2,000	889
Liabilities associated with operating real estate held for sale	387	418
Total Liabilities	325,068	220,075
Stockholders' Equity
Additional paid-in-capital	248,563	113,511
Distributions in excess of cumulative earnings	(34,040)	(21,213)
Total Stockholders' Equity	214,719	92,385
Noncontrolling Interests
Operating partnership units	2,760	2,949
Partially owned properties	28,807	30,677
Total Noncontrolling Interests	31,567	33,626
Total Equity	246,286	126,011
TOTAL LIABILITIES AND EQUITY	571,354	346,086
Preferred Stock [Member]
Stockholders' Equity
Preferred stock, value	0	0
Common Class A [Member]
Stockholders' Equity
Common Stock, value	192	75
Common Class B-1 [Member]
Stockholders' Equity
Common Stock, value	0	4
Common Class B-2 [Member]
Stockholders' Equity
Common Stock, value	0	4
Common Class B-3 [Member]
Stockholders' Equity
Common Stock, value	$ 4	$ 4

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	Sep. 30, 2015	Dec. 31, 2014
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
Common Class A [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	747,586,185	747,586,185
Common stock, shares issued	19,201,450	7,531,188
Common stock, shares outstanding	19,201,450	7,531,188
Common Class B-1 [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	804,605	804,605
Common stock, shares issued	0	353,630
Common stock, shares outstanding	0	353,630
Common Class B-2 [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	804,605	804,605
Common stock, shares issued	0	353,630
Common stock, shares outstanding	0	353,630
Common Class B-3 [Member]
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, shares authorized	804,605	804,605
Common stock, shares issued	353,629	353,629
Common stock, shares outstanding	353,629	353,629

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Revenues
Net rental income		$ 11,049	$ 9,185	$ 29,611	$ 19,754
Other property revenues		511	371	1,454	793
Total revenues		11,560	9,556	31,065	20,547
Expenses
Property operating		4,698	4,067	12,924	9,008
General and administrative		1,246	778	2,912	2,048
Management fees		896	225	3,051	548
Acquisition costs		739	379	1,409	3,528
Depreciation and amortization		3,993	4,781	10,499	9,598
Total expenses		11,572	10,230	30,795	24,730
Operating (loss) income		(12)	(674)	270	(4,183)
Other income (expense)
Other income		0	52	62	185
Equity in income of unconsolidated real estate joint ventures		2,366	412	4,391	492
Gain on sale of unconsolidated real estate joint venture interest		11	0	11,303	0
Interest expense, net		(2,967)	(2,549)	(7,985)	(5,817)
Total other (expense) income		(590)	(2,085)	7,771	(5,140)
Net (loss) income from continuing operations		(602)	(2,759)	8,041	(9,323)
Discontinued operations
Income (loss) on operations of rental property		0	114	0	(3)
Loss on early extinguishment of debt		0	0	0	(880)
Gain on sale of joint venture interest		0	0	0	1,006
Income from discontinued operations		0	114	0	123
Net (loss) income		(602)	(2,645)	8,041	(9,200)
Net (loss) income attributable to noncontrolling interests
Operating partnership units		(8)	(116)	57	(321)
Partially-owned properties		(20)	(382)	5,827	(1,149)
Net (loss) income attributable to noncontrolling interests		(28)	(498)	5,884	(1,470)
Net (loss) income attributable to common stockholders		$ (574)	$ (2,147)	$ 2,157	$ (7,730)
(Loss) income per common share - Basic
Continuing operations (in dollars per share)	[1]	$ (0.03)	$ (0.38)	$ 0.13	$ (1.84)
Discontinued operations (in dollars per share)	[1]	0	0.02	0	0.03
Income (loss) per common share - Basic Total	[1]	(0.03)	(0.36)	0.13	(1.81)
(Loss) income per common share - Diluted
Continuing operations (in dollars per share)	[1]	(0.03)	(0.38)	0.13	(1.84)
Discontinued operations (in dollars per share)	[1]	0	0.02	0	0.03
Income (loss) per common share - Diluted Total	[1]	$ (0.03)	$ (0.36)	$ 0.13	$ (1.81)
Weighted average basic common shares outstanding (in shares)	[1],[2]	20,166,384	5,877,417	16,383,736	4,269,378
Weighted average diluted common shares outstanding (in shares)	[1]	20,166,384	5,877,417	16,396,038	4,269,378
[1]	Share and per share amounts have been restated to reflect the effects of two reverse stock splits of the Company’s Class B common stock, which occurred during the first quarter of 2014. See Note 1, "Organization and Nature of Business" and Note 11, "Stockholders' Equity" for further discussion.
[2]	For 2015, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding. For 2014, amounts relate to shares of Class A, B-1, B-2 and B-3 common stock, common shares and LTIP Units outstanding.

CONSOLIDATED STATEMENT OF STOCK

CONSOLIDATED STATEMENT OF STOCKHOLDERS' EQUITY - 9 months ended Sep. 30, 2015 - USD ($) $ in Thousands	Total	Conversion of Class B-1 into Class A shares [Member]	Conversion of Class B-2 into Class A shares [Member]	Common Class A [Member]	Common Class A [Member]Conversion of Class B-1 into Class A shares [Member]	Common Class A [Member]Conversion of Class B-2 into Class A shares [Member]	Common Class B-1 [Member]	Common Class B-1 [Member]Conversion of Class B-1 into Class A shares [Member]	Common Class B-1 [Member]Conversion of Class B-2 into Class A shares [Member]	Common Class B-2 [Member]	Common Class B-2 [Member]Conversion of Class B-1 into Class A shares [Member]	Common Class B-2 [Member]Conversion of Class B-2 into Class A shares [Member]	Common Class B-3 [Member]	Common Class B-3 [Member]Conversion of Class B-1 into Class A shares [Member]	Common Class B-3 [Member]Conversion of Class B-2 into Class A shares [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Conversion of Class B-1 into Class A shares [Member]	Additional Paid-in Capital [Member]Conversion of Class B-2 into Class A shares [Member]	Cumulative Distributions [Member]	Cumulative Distributions [Member]Conversion of Class B-1 into Class A shares [Member]	Cumulative Distributions [Member]Conversion of Class B-2 into Class A shares [Member]	Net Loss to Common Stockholders [Member]	Net Loss to Common Stockholders [Member]Conversion of Class B-1 into Class A shares [Member]	Net Loss to Common Stockholders [Member]Conversion of Class B-2 into Class A shares [Member]	Noncontrolling Interests [Member]	Noncontrolling Interests [Member]Conversion of Class B-1 into Class A shares [Member]	Noncontrolling Interests [Member]Conversion of Class B-2 into Class A shares [Member]
Balance at Dec. 31, 2014	$ 126,011			$ 75			$ 4			$ 4			$ 4			$ 113,511			$ (9,930)			$ (11,283)			$ 33,626
Balance (in shares) at Dec. 31, 2014				7,531,188			353,630			353,630			353,629
Issuance of Class A common stock, net	131,313			$ 109			$ 0			$ 0			$ 0			131,204			0			0			0
Issuance of Class A common stock, net (in shares)				10,948,002			0			0			0
Conversion of Class B-1 into Class A shares		$ 0	$ 0		$ 4	$ 4		$ (4)	$ 0		$ 0	$ (4)		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0		$ 0	$ 0
Conversion of Class B-2 into Class A shares (in shares)					353,630	353,630		(353,630)	0		0	(353,630)		0	0
Vesting of restricted stock compensation	102			$ 0			$ 0			$ 0			$ 0			102			0			0			0
Issuance of restricted stock	0			$ 0			$ 0			$ 0			$ 0			0			0			0			0
Issuance of restricted stock (in shares)				15,000			0			0			0
Issuance of Long-Term Incentive Plan ("LTIP") units for compensation	2,964			$ 0			$ 0			$ 0			$ 0			2,964			0			0			0
Vesting of LTIP unit compensation	1,239			0			0			0			0			1,239			0			0			0
Capital contributions from noncontrolling interests	1,334			0			0			0			0			0			0			0			1,334
Distributions declared	(15,230)			0			0			0			0			0			(14,984)			0			(246)
Disposition of noncontrolling interests	(7,409)			0			0			0			0			0			0			0			(7,409)
Changes in additional-paid in capital due to acquisitions	(457)			0			0			0			0			(457)			0			0			0
Distributions to noncontrolling interests	(1,622)			0			0			0			0			0			0			0			(1,622)
Net income	8,041			0			0			0			0			0			0			2,157			5,884
Balance at Sep. 30, 2015	$ 246,286			$ 192			$ 0			$ 0			$ 4			$ 248,563			$ (24,914)			$ (9,126)			$ 31,567
Balance (in shares) at Sep. 30, 2015				19,201,450			0			0			353,629

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014
Cash flows from operating activities
Net income (loss)	$ 8,041	$ (9,200)
Adjustments to reconcile net income (loss) to net cash provided by (used in) operating activities:
Depreciation and amortization	10,824	10,048
Amortization of fair value adjustments on mortgages payable	(204)	(225)
Equity in income of unconsolidated joint ventures	(4,391)	(492)
Gain on sale of real estate assets of unconsolidated joint ventures	(11,303)	(1,006)
Distributions from unconsolidated real estate joint ventures	6,958	383
Share-based compensation attributable to directors' stock compensation plan	102	36
Share-based compensation to Former Advisor - LTIP Units	0	2,117
Share-based compensation to Manager - LTIP Units	4,203	672
Changes in operating assets and liabilities:
Due to affiliates, net	734	(409)
Accounts receivable, prepaids and other assets	(3,329)	(862)
Accounts payable and other accrued liabilities	4,232	3,303
Net cash provided by operating activities	15,867	4,365
Cash flows from investing activities:
Increase in restricted cash	(112)	(2,275)
Acquisitions of consolidated real estate investments	(116,952)	(16,850)
Capital expenditures	(2,470)	(7,435)
Proceeds from sale of joint venture interests	0	4,985
Proceeds from sale of unconsolidated real estate joint venture interests	15,590	0
Purchases of interests from noncontrolling members	(7,866)	(15,447)
Investment in unconsolidated joint venture	(45,192)	(8,512)
Net cash used in investing activities	(157,002)	(45,534)
Cash flows from financing activities:
Distributions to common stockholders	(14,119)	(3,396)
Distributions to noncontrolling interests	(1,622)	(4,977)
Capital contributions from noncontrolling interests	1,334	4,271
Borrowings on mortgages payable	68,224	15,566
Repayments on mortgages payable	(1,037)	(238)
Repayments of line of credit	0	(7,571)
Payments of deferred financing fees	(1,084)	(1,835)
Net proceeds from issuance of common stock	131,313	43,977
Net cash provided by financing activities	183,009	45,797
Net increase in cash and cash equivalents	41,874	4,628
Cash and cash equivalents at beginning of period	23,059	2,984
Cash and cash equivalents at end of period	64,933	7,612
Supplemental Disclosure of Cash Flow Information
Cash paid during the period for interest	7,622	5,400
Distributions payable - declared and unpaid	1,111	452
Accrued offering costs	0	635
Mortgages assumed upon property acquisitions	32,942	116,800
Class A common stock issued for property acquisitions	0	15,188
OP Units issued for property acquisition	$ 0	$ 4,100

Organization and Nature of Busi

Organization and Nature of Business	9 Months Ended
	Sep. 30, 2015
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	Bluerock Residential Growth REIT, Inc. (the “Company”) was incorporated as a Maryland corporation on July 25, 2008. The Company’s objective is to maximize long-term stockholder value by acquiring well-located institutional-quality apartment properties in demographically attractive growth markets across the United States. The Company seeks to maximize returns through investments where it believes it can drive substantial growth in its funds from operations and net asset value through one or more of its Core-Plus, Value-Add, Opportunistic and Invest-to-Own investment strategies. The Company has elected to be treated, and currently qualifies, as a real estate investment trust (“REIT”), for federal income tax purposes. As a REIT, the Company generally is not subject to corporate-level income taxes. To maintain its REIT status, the Company is required, among other requirements, to distribute annually at least 90 The Company raised capital in a continuous registered offering, carried out in a manner consistent with offerings of non-listed REITs, from its inception until September 9, 2013, when it terminated the continuous registered offering in connection with the Company’s Board of Directors (the “Board’s”) consideration of strategic alternatives to maximize value to its stockholders. The Company subsequently determined to register shares of newly authorized Class A common stock that were to be offered in a firmly underwritten public offering (the “IPO”), by filing a registration statement on Form S-11 (File No. 333-192610) with the SEC, on November 27, 2013. On March 28, 2014, the SEC declared the registration statement effective and the Company announced the pricing of the IPO of 3,448,276 14.50 50.0 44.0 In connection with the IPO, shares of the Company’s Class A common stock were listed on the NYSE MKT for trading under the symbol “BRG.” Pursuant to the second articles of amendment and restatement to its charter filed on March 26, 2014 (the “Second Charter Amendment”), each share of its common stock outstanding immediately prior to the listing, including shares sold in its continuous registered offering, was changed into one-third of a share of each of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock. Following the filing of the Second Charter Amendment, the Company effected a 2.264881-to-1 reverse stock split of its outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock, and on March 31, 2014, the Company effected an additional 1.0045878-to-1 reverse stock split of its outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock. As of March 31, 2014, the Company was externally managed by Bluerock Multifamily Advisor, LLC, an affiliate of Bluerock (the “Former Advisor”), pursuant to an advisory agreement (the “Advisory Agreement”). In connection with the completion of the IPO, the Company engaged BRG Manager, LLC, also an affiliate of Bluerock (the “Manager”), to provide external management services to us under a new management agreement (the “Management Agreement”), and terminated the Advisory Agreement with the Former Advisor. Substantially concurrently with the completion of the IPO, the Company completed a series of related contribution transactions pursuant to which it acquired indirect equity interests in four apartment properties, and a 100% fee simple interest in a fifth apartment property for an aggregate asset value of $152.3 million (inclusive of Villas at Oak Crest, which is accounted for under the equity method, and Springhouse, in which the Company already owned an interest and which has been reported as consolidated prior to the IPO). The Company subsequently determined to register additional shares of its Class A common stock to be offered in a firmly underwritten public offering, (the “October 2014 Follow-On Offering”), by filing a registration statement on Form S-11 (File No. 333-198770) with the SEC on September 16, 2014. On October 2, 2014, the SEC declared the Registration Statement effective and the Company announced the pricing of the October 2014 Follow-On Offering at a public offering price of $ 11.90 3,035,444 32.9 On January 20, 2015, the Company completed an underwritten shelf takedown offering (the “January 2015 Follow-On Offering”) of 4,600,000 0.01 12.50 53.7 On May 22, 2015, the Company completed an underwritten shelf takedown offering (the “May 2015 Follow-On Offering”) of 6,348,000 0.01 13.00 77.6 As of September 30, 2015, the Company's portfolio consisted of interests in sixteen properties (thirteen operating properties and three development properties). The Company’s sixteen properties contain an aggregate of 4,991 4,097 894 95

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 2 – Basis of Presentation and Summary of Significant Accounting Policies The Company operates as an umbrella partnership REIT in which Bluerock Residential Holdings, L.P. (its “Operating Partnership”), or its wholly-owned subsidiaries, owns substantially all of the property interests acquired on the Company’s behalf. As of September 30, 2015, limited partners other than the Company owned approximately 5.50 1.37 4.13 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. The Company consolidates entities in which it controls more than 50% of the voting equity and in which control does not rest with other investors. Investments in real estate joint ventures over which the Company has the ability to exercise significant influence, but for which it does not have financial or operating control, are accounted for using the equity method of accounting. These entities are reflected on the Company’s consolidated financial statements as “Investments in unconsolidated real estate joint ventures.” All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. The Company will consider future joint ventures for consolidation in accordance with the provisions required by the of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810: Consolidation. Certain amounts in prior year financial statement presentation have been reclassified to conform to the current period presentation. The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting, and the instructions to Form 10-Q and Article 10-1 of Regulation S-X. Accordingly, the financial statements for interim reporting do not include all of the information and notes or disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for interim periods should not be considered indicative of the operating results for a full year. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in our audited consolidated financial statements for the year ended December 31, 2014 contained in the Annual Report on Form 10-K as filed with the Securities and Exchange Commission (“SEC”) on March 4, 2015. There have been no significant changes to the Company’s accounting policies since it filed its audited consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014. The preparation of the financial statements in conformity with 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. Actual results could differ from those estimates. In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of that liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in ASU 2015-03. The amendments in ASU 2015-03 become effective for public business entities in the first annual period beginning after December 15, 2015, and interim periods within those fiscal years, with early application permitted. The Company is currently evaluating the impact of this accounting standard. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). ASU 2015-02 eliminates specific consolidation guidance for limited partnerships and revises other aspects of consolidation analysis, including how kick-out rights, fee arrangements and related parties are assessed. ASU 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact of ASU 2015-02 on the Company’s financial statements. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU 2015-01”), which eliminates the concept of extraordinary items and require items that are either unusual in nature or infrequently occurring to be reported as a separate component of income from continuing operations or disclosed in the notes to the financial statements. ASU 2015-01 is effective for periods beginning after December 15, 2015, with early adoption permitted. ASU 2015-01 is not expected to have a material impact on the Company's financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern” (“ASU 2014-15”), which requires an entity's management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. ASU 2014-15 is effective for periods beginning after December 15, 2016. ASU 2014-15 is not expected to have a material impact on the Company's financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The updated standard is a new comprehensive revenue recognition model that requires revenue to be recognized in a manner that depicts the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. In July 2015, the FASB voted to approve the deferral of the effective date of ASU 2014-09 by one year. Therefore, ASU 2014-09 will become effective for the Company in the first quarter of the fiscal year ending December 31, 2018. Early adoption is permitted, but not earlier than the first quarter of the fiscal year ending December 31, 2017. The ASU allows for either full retrospective or modified retrospective adoption. The Company has not selected a transition method, and is currently evaluating the effect that ASU 2014-09 will have on the consolidated financial statements and related disclosures.

Real Estate Assets Held for Sal

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests	9 Months Ended
	Sep. 30, 2015
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, Discontinued Operations and Sale of Joint Venture Equity Interests Real Estate Assets Held for Sale and Discontinued Operations The Company had reported its Creekside property as held for sale in the Company’s Annual Report on Form 10-K for the year ended December 31, 2013. On March 28, 2014, the special purpose entity that owned the Creekside property, in which the Company held a 24.7 Property Classified as Discontinued Operations Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Total revenues $ — $ — $ — $ 508 Expenses Property operating — 114 — (171) Depreciation and amortization — — — (183) Management fees — — — (8) Interest, net — — — (149) Loss on operations of rental property $ — $ 114 $ — $ (3) Gain on sale of joint venture interest — — — 1,006 Loss on early extinguishment of debt — — — (880) (Loss) Income from discontinued operations $ — $ 114 $ — $ 123 Sale of Joint Venture Equity Interests On December 10, 2014, the Company through BEMT Augusta, LLC, sold its 25.0 25.0 50.0 26.0 1.7 0.6 On December 9, 2014, the Company, through BEMT Berry Hill, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Operating Partnership (“BEMT Berry Hill’), entered into a series of transactions and agreements to restructure the ownership of Berry Hill (the “Restructuring Transactions”). Prior to the Restructuring Transactions, the Company held a 25.1 28.4 29.0 17.5 100 100 Following the Restructuring Transactions, as of December 31, 2014, Berry Hill was owned in tenancy-in-common interests, adjusted for the agreed Stonehenge promote interest as follows: (i) BEMT Berry Hill and Fund III, through 23Hundred, held a 42.2 19.8 22.4 22.9 34.8 As a result of the restructuring, the Company no longer controlled Berry Hill through its voting rights. The Company’s investment in Berry Hill has been deconsolidated and was subsequently accounted for under the equity method of accounting as of December 31, 2014. On January 14, 2015, the Company, along with the other two holders of tenant-in-common interests in Berry Hill, sold their respective interests to 2300 Berry Hill General Partnership, an unaffiliated third party. The aggregate purchase price was $ 61.2 7.3 11.3 5.3 0.1 On December 3, 2014, the Company, through BR Waterford Crossing JV, LLC, a Delaware limited liability company and a wholly-owned subsidiary of the Operating Partnership (“BRG Grove”) and Bell HNW Waterford, LLC, a Delaware limited liability company and an unaffiliated third party (“BRG Co-Owner”), owned a 252-unit apartment community located in Hendersonville, Tennessee named the Grove at Waterford, as tenants-in-common. BRG Grove owned a 60.0 40.0 37.7 9.0 3.5 On March 28, 2014, BR Creekside, LLC, a special-purpose entity in which the Company holds a 24.7% indirect equity interest, sold the Creekside property to SIR Creekside, LLC, an unaffiliated third party, for $ 18.9 13.5 0.1 1.2 1.0

Investments in Real Estate

Investments in Real Estate	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	Note 4 – Investments in Real Estate As of September 30, 2015, the Company was invested in thirteen operating real estate properties and three development properties through joint venture partnerships. Operating Properties Multifamily Community Name/Location Number of Units Date Built/Renovated (1) Ownership Interest Average Rent (2) % Occupied (3) ARIUM Grandewood/ Orlando, FL (4) 306 2005 95.00 % $ 1,169 96 % ARIUM Palms/ Orlando, FL 252 2008 95.00 % 1,156 92 % Ashton I/ Charlotte, NC 322 2012 100.0 % 1,022 91 % Enders Place at Baldwin Park/ Orlando, FL 220 2003 89.50 % 1,563 97 % EOS/ Orlando, FL (5) 296 Est. 2015 — 1,211 30 % Fox Hill/ Austin , TX 288 2010 94.62 % 1,093 99 % Lansbrook Village/ Palm Harbor, FL 601 2004 76.81 % 1,167 93 % MDA Apartment/ Chicago, IL 190 2006 35.31 % 2,244 96 % North Park Towers/ Southfield, MI (6) 313 2000 100.0 % 1,065 95 % Park & Kingston/ Charlotte, NC 153 2014 96.00 % 1,195 98 % Springhouse at Newport News/Newport News, VA 432 1985 75.00 % 826 95 % Village Green of Ann Arbor/ Ann Arbor, MI 520 2013 48.61 % 1,159 95 % Whetstone / Durham, NC (5) 204 2015 — 1,325 67 % Total/Average 4,097 $ 1,189 95 % (1) (2) (3) (4) (5) (6) Depreciation expense was $3.1 million and $2.6 million for the three months ended September 30, 2015 and 2014, respectively, and $8.2 million and $6.0 million, for the nine months ended September 30, 2015 and 2014, respectively, including amounts in discontinued operations. Intangibles related to the Company’s consolidated investments in real estate consist of the value of in-place leases. In-place leases are amortized over the remaining term of the in-place leases, which is approximately six months. Amortization expense related to the in-place leases was $0.9 million and $2.1 million for the three months ended September 30, 2015 and 2014, respectively, and $2.3 million and $3.8 million for the nine months ended September 30, 2015 and 2014, respectively. Development Properties Multifamily Community Name/Location Number of Units Initial Occupancy Final Units to be Delivered Pro Forma Average Rent (1) Alexan CityCentre / Houston, TX 340 4Q 2016 4Q 2017 $ 2,144 Alexan Southside Place / Houston, TX 269 3Q 2017 2Q 2018 $ 2,019 Cheshire Bridge / Atlanta, GA 285 1Q 2017 3Q 2017 $ 1,559 Total/Average 894 $ 1,921 (1)

Acquisition of Real Estate

Acquisition of Real Estate	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Business Combination Disclosure [Text Block]	Note 5 – Acquisition of Real Estate The following describes the Company’s significant acquisition activity during the nine months ended September 30, 2015: Acquisition of Interest in Park & Kingston On March 16, 2015, the Company, through a wholly-owned subsidiary of its Operating Partnership, completed an investment of $ 6.3 46.95 The purchase price for the Phase I Units of $ 27.85 15.25 The Company also has the ability to acquire 15 units under development at Park & Kingston (the “Phase II Units”), for a purchase price of $ 2.87 70 In May 2015, the Company invested an additional $ 6.5 46.95 96.0 Acquisition of Interest in Fox Hill On March 26, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $ 10.2 85.27 The purchase price of $ 38.15 26.71 In May 2015, the Company invested an additional $ 1.1 85.27 94.62 Acquisition of Interest in Ashton I On August 19, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $ 13.5 The purchase price of $ 44.75 31.9 In addition, the Company, through a subsidiary of the Operating Partnership, expects to subsequently acquire an additional 151-unit apartment community currently under construction on land immediately adjacent to Ashton I, to be known as Ashton Reserve at Northlake Phase II, or Ashton II. On August 19, 2015, the Company entered into an assignment and assumption of purchase and sale agreement with an unaffiliated third-party, pursuant to which it assumed the obligations under the purchase agreement to acquire Ashton II following completion of construction and stabilization thereof. The Company expects to close on the acquisition of Ashton II for a purchase price of approximately $ 20.6 Acquisition of ARIUM Palms at World Gateway, formerly known as Century Palms at World Gateway On August 20, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $ 13.0 95.0 The purchase price of $ 37.0 25.0 Preliminary Purchase Price Allocations The acquisitions of Park & Kingston, Fox Hill, Ashton I and ARIUM Palms have been accounted for as business combinations. The purchase prices were allocated to the acquired assets and liabilities based on their estimated fair values at the dates of acquisition. The preliminary measurements of fair value reflected below are subject to change. The Company expects to finalize the purchase price allocations as soon as practical, but no later than one year from each property’s respective acquisition date. Preliminary Purchase Price Allocation Land $ 15,270 Building 112,431 Building improvements 8,884 Land improvements 6,265 Furniture and fixtures 3,136 In-place leases 2,806 Total assets acquired $ 148,792 In connection with the acquisition of Ashton I, the Company assumed mortgage debt with a fair value of approximately $ 32.9 The pro-forma information presented below represents the change in consolidated revenue and earnings as if the Company's significant acquisitions of Village Green of Ann Arbor, North Park Towers, Lansbrook Village, ARIUM Grandewood, Fox Hill, Ashton I and ARIUM Palms (collectively, the "Recent Acquisitions"), had occurred on January 1, 2014 (amounts in thousands, except per share amounts). Park & Kingston is excluded from the pro forma information as the property was under development during 2014. Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 Pro-Forma Pro-Forma As Reported Adjustments Pro-Forma As Reported Adjustments Pro-Forma Revenues $ 31,065 $ 5,811 $ 36,876 $ 20,547 $ 17,292 $ 37,839 Net income (loss) $ 8,041 $ 2,283 $ 10,324 $ (9,200) $ (6,140) $ (15,340) Net income (loss) attributable to BRG $ 2,157 $ 2,173 $ 4,330 $ (7,730) $ (5,521) $ (13,251) Earnings (loss) per share, basic and diluted (1) $ 0.13 $ 0.26 $ (1.81) $ (3.10) (1) Pro-forma earnings (loss) per share, both basic and diluted, are calculated based on the net income (loss) attributable to BRG. Aggregate property level revenues and net loss for the Recent Acquisitions, since the properties’ respective acquisition dates, that are reflected in the Company’s consolidated statement of operations for the nine months ended September 30, 2015 amounted to $ 20.1 1.1

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Joint Ventures	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments and Joint Ventures Disclosure [Text Block]	Note 6 – Investments in Unconsolidated Real Estate Joint Ventures Following is a summary of the Company’s ownership interests in the investments reported under the equity method of accounting. September 30, December 31, Property 2015 2014 Alexan CityCentre $ 6,505 $ 6,505 EOS 3,629 3,629 Alexan Southside Place 17,322 - Whetstone 12,231 - Cheshire Bridge 15,639 - 23Hundred Berry Hill - 4,906 Villas at Oak Crest - 3,170 Other - 121 Total $ 55,326 $ 18,331 Current Pay Accrued Total Annualized Annualized Annualized Preferred Preferred Preferred Property Return Return Return Alexan CityCentre 15.0 % — 15.0 % EOS 15.0 % — 15.0 % Alexan Southside Place 15.0 % — 15.0 % Whetstone 15.0 % — 15.0 % Cheshire Bridge 15.0 % — 15.0 % Three Months Ended September 30, Nine Months Ended September 30, Property 2015 2014 2015 2014 Villas at Oak Crest $ 278 $ 100 $ 489 $ 214 Alexan CityCentre 246 181 730 181 Alexan Southside Place 655 — 1,341 — EOS 137 93 407 93 Whetstone 462 — 669 — Cheshire Bridge 591 — 787 — The Estates at Perimeter/Augusta — 38 (1) 4 Other (3) — (31) — Equity in earnings of unconsolidated joint venture $ 2,366 $ 412 $ 4,391 $ 492 September 30, December 31, 2015 2014 Balance Sheets: Real estate, net of depreciation $ 119,649 $ 55,091 Real estate, net of depreciation, held for sale — 31,334 Other assets 22,254 1,193 Other assets, held for sale — 2,458 Total assets $ 141,903 $ 90,076 Mortgages payable $ 61,998 $ 19,820 Mortgage payable, held for sale — 23,569 Other liabilities 3,680 2,812 Other liabilities, held for sale — 1,026 Total liabilities $ 65,678 $ 47,227 Members’ equity 76,225 42,849 Total liabilities and members’ equity $ 141,903 $ 90,076 Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Operating Statement: Rental revenues $ 561 $ 694 $ 1,885 $ 1,992 Operating expenses (695) (264) (2,166) (786) Income before debt service, acquisition costs, and depreciation and amortization (134) 430 (281) 1,206 Interest expense, net (167) (189) (544) (562) Acquisition costs — — (66) — Depreciation and amortization (721) (204) (1,304) (605) Operating (loss) (1,022) 37 (2,195) 39 Gain on sale — — 29,200 — Net (loss) income $ (1,022) $ 37 $ 27,005 $ 39 Acquisition of Alexan Southside Place (formerly referred to as Alexan Blaire House) Interests On January 12, 2015, through BRG Southside, LLC, a wholly-owned subsidiary of its Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture, along with Fund II and Fund III, which are affiliates of the Manager, and an affiliate of Trammell Crow Residential, to develop an approximately 269-unit Class A apartment community located in Houston, Texas, to be known as Alexan Southside Place. Alexan Southside Place will be developed upon a tract of land ground leased from Prokop Industries BH, L.P., a Texas limited partnership, by BR Bellaire BLVD, LLC, as tenant under an 85 17.3 100 Alexan Southside Place Construction Financing On April 7, 2015, the Company, through BR Bellaire BLVD, LLC, an indirect subsidiary, entered into a $ 31.8 April 7, 2019 Acquisition of Whetstone Interests On May 20, 2015, through BRG Whetstone Durham, LLC, a wholly-owned subsidiary of its Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture, along with Fund III and an affiliate of TriBridge Residential, LLC, to acquire a 204-unit Class A apartment community located in Durham, North Carolina, to be known as Whetstone Apartments. The Company has made a capital commitment of $ 12.2 100 25.2 Acquisition of Cheshire Bridge Interests On May 29, 2015, through BRG Cheshire, LLC, a wholly-owned subsidiary of its Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture, along with Fund III and an affiliate of Catalyst Development Partners II, to develop a 285-unit Class A apartment community located in Atlanta, Georgia, to be known as Cheshire Bridge Apartments. The Company has made a capital commitment of $ 15.6 100 Sale of Villas at Oak Crest The controlling member of the joint venture that owned the Villas at Oak Crest apartment community determined to sell the property. The property was sold in September 2015 and upon closing, the Company received a distribution of its original investment plus accrued return.

Mortgages Payable

Mortgages Payable	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Mortgage Notes Payable Disclosure [Text Block]	Note 7 – Mortgages Payable Outstanding Principal As of September 30, 2015 Property September 30, 2015 December 31, 2014 Interest Rate Fixed/ Floating Maturity Date ARIUM Grandewood $ 29,444 $ 29,444 1.87 % Floating (1) December 1, 2024 ARIUM Palms 24,999 - 2.42 % Floating (2) September 1, 2022 Ashton I 31,900 - 4.67 % Fixed December 1, 2025 Enders Place at Baldwin Park (3) 25,250 25,475 4.30 % Fixed November 1, 2022 Fox Hill 26,705 - 3.57 % Fixed April 1, 2022 Lansbrook Village 43,628 42,357 4.40 % Blended (4) March 31, 2018 MDA Apartments 37,600 37,600 5.35 % Fixed January 1, 2023 Park & Kingston 15,250 - 3.21 % Fixed April 1, 2020 Springhouse at Newport News 22,264 22,515 5.66 % Fixed January 1, 2020 Village Green of Ann Arbor 42,518 43,078 3.92 % Fixed October 1, 2022 Total 299,558 200,469 Fair value adjustments 1,710 874 Total continuing operations 301,268 201,343 North Park Towers - held for sale 11,500 11,500 5.65 % Fixed January 6, 2024 Total $ 312,768 $ 212,843 (1) (2) (3) (4) Lansbrook Village Mortgage Payable On March 21, 2014, the Company, through an indirect subsidiary (the “Lansbrook Borrower”), entered into a $48 million loan with General Electric Capital Corporation, which is secured by Lansbrook Village. The $48.0 million is comprised of a $42.0 million initial advance and an additional $6.0 million of additional borrowing for the acquisition and improvement of additional units. At September 30, 2015, the Lansbrook Borrower has borrowed $1.6 million of the $6.0 million of additional borrowable funds. The loan matures on March 31, 2018 and bears interest at a fixed rate 4.45% per annum, with interest-only payments due until May 1, 2016 and principal payments beginning thereafter based upon a 30-year amortization schedule. Yield maintenance payments will be required to the extent the loan is prepaid before the third month prior to the maturity date and thereafter the loan may be prepaid without penalty. At the time of repayment, whether prepaid or paid at maturity, a $240,000 exit fee is due to the lender. The loan is nonrecourse to the Company and the Lansbrook Borrower, with recourse carve-outs for certain deeds, acts or failures to act on the part of the Lansbrook Borrower or any of its officers, members, managers or employees. Park & Kingston Mortgage Payable On March 16, 2015, the Company, through an indirect subsidiary (the “Park & Kingston Borrower”), entered into a $15.25 million loan with the Federal National Mortgage Association (“Fannie Mae”), which is secured by Park & Kingston. The loan matures on April 1, 2020 and bears interest at a fixed rate of 3.21%, with interest-only payments due for the entire loan term. 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 principal being prepaid will be required, and thereafter the loan may be prepaid without penalty. The loan is nonrecourse to the Park & Kingston Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Park & Kingston Borrower, or any of its officers, members, managers or employees. Fox Hill Mortgage Payable On March 26, 2015, the Company, through an indirect subsidiary (the “Fox Hill Borrower”), entered into a $26.7 million loan with Walker & Dunlop, LLC, which is secured by Fox Hill. The loan was subsequently assigned to Fannie Mae. The loan matures on April 1, 2022 and bears interest at a fixed rate of 3.57%, with interest-only payments due until May 1, 2019 and fixed monthly payments based on 30-year amortization thereafter. During the first 60 months of the term, the loan may be prepaid at any time with at least 30 business days prior notice and the payment of a prepayment premium equal to the greater of (i) 1% of the principal balance and (ii) a yield maintenance amount calculated as set forth in the loan agreement. After the first 60 months of the term through the fourth month prior to the end of the term, the loan may be prepaid at any time with at least 30 business days prior notice and the payment of a prepayment premium equal to 1% of the principal balance, and thereafter, the loan may be prepaid at any time at par. The loan is nonrecourse to the Company and the Fox Hill Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Company and the Fox Hill Borrower, or any of its officers, members, managers or employees. Ashton I Mortgage Payable On August 19, 2015, the Company, through an indirect subsidiary (the “Ashton I Borrower”), assumed a $31.9 million loan with Sun Life Assurance Company of Canada which is secured by Ashton I. The loan matures on December 1, 2025 and bears interest at a fixed rate of 4.67%, with interest-only payments due through December 1, 2016, and fixed monthly payments based on 30-year amortization thereafter. The loan may be prepaid in full at any time with thirty (30) days' prior written notice to the lender, and the payment of a prepayment premium equal to the greater of (i) 1.0% of the unpaid principal balance or (ii) a yield maintenance amount calculated as set forth in the loan documents. The loan is nonrecourse to the Ashton I Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Ashton I Borrower, or any of its officers, members, managers or employees. ARIUM Palms Mortgage Payable On August 20, 2015, the Company, through an indirect subsidiary (the “ARIUM Palms Borrower”), entered into a $25.0 million loan with Jones Long LaSalle Operations, L.L.C., on behalf of Freddie Mac, which is secured by ARIUM Palms. The loan matures on September 1, 2022 and bears interest on a floating basis based on LIBOR plus 2.22%, with interest-only payments due until September 1, 2019 and fixed monthly payments based on 30-year amortization thereafter. The ARIUM Palms Borrower also entered into a three-year interest rate cap agreement with a cap rate of 5.75%. After the first 24 months of the term through the fourth month prior to the end of the term, the loan may be prepaid at any time with at least 30 business days prior notice and the payment of a make whole premium equal to 1% of the principal balance, and thereafter, the loan may be prepaid at any time at par. The loan is nonrecourse to the Company and the ARIUM Palms Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Company and the ARIUM Palms Borrower, or any of its officers, members, managers or employees. As of September 30, 2015, contractual principal payments for the five subsequent years and thereafter are as follows (amounts in thousands): Year Total 2015 (October 1-December 31) $ 375 2016 2,762 2017 3,532 2018 45,364 2019 3,888 Thereafter 255,137 $ 311,058 Add: Unamortized fair value debt adjustment 1,710 Total $ 312,768 The net book value of real estate assets providing collateral for these above borrowings were $429.7 million and $288.4 million at September 30, 2015 and December 31, 2014, respectively.

Line of Credit

Line of Credit	9 Months Ended
	Sep. 30, 2015
Line Of Credit Facility [Abstract]
Line Of Credit Facility [Text Block]	Note 8 – Line of Credit As of January 1, 2014, the outstanding balance on the Company's working capital line of credit provided by Fund II and Fund III, both of which are affiliates of our Manager, was $ 7.6

Fair Value of Financial Instrum

Fair Value of Financial Instruments	9 Months Ended
	Sep. 30, 2015
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 9 – Fair Value of Financial Instruments As of September 30, 2015 and December 31, 2014, the Company believes the carrying value of cash and cash equivalents, accounts receivable, due to and from affiliates, accounts payable, accrued liabilities, and distributions payable approximate their fair value based on their highly-liquid nature and/or short-term maturities. As of September 30, 2015 and December 31, 2014, the approximate fair value of mortgages payable were $ 319.1 215.8 312.8 212.8

Related Party Transactions

Related Party Transactions	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 10 – Related Party Transactions In connection with the Company’s investments in the Enders Place at Baldwin Park, Berry Hill and MDA Apartments, it entered into a line of credit agreement with Fund II and Fund III. As of January 1, 2014, the outstanding balance on the Company's working capital line of credit provided by Fund II and Fund III, both of which are affiliates of our Manager, was $ 7.6 In connection with the Company’s acquisition of an interest in the Villas at Oak Crest, the Company assumed a receivable of $ 0.3 0.3 In May 2015, the Company invested an additional $ 6.5 46.95 96.0 . In May 2015, the Company invested an additional $ 1.1 85.27 94.62 As of March 31, 2014, the Company was externally managed by our Former Advisor pursuant to the Advisory Agreement. In connection with the completion of the IPO, the Company terminated the Advisory Agreement with the Former Advisor, and the Company entered into a new management agreement (the “Management Agreement”), with the Manager, on April 2, 2014. The terms and conditions of the Management Agreement, which became effective as of April 2, 2014, and the Advisory Agreement, which was effective for the reported periods prior to April 2, 2014, are described below. Management Agreement The Management Agreement requires the Manager to manage the Company’s business affairs in conformity with the investment guidelines and other policies that are approved and monitored by the Company’s board of directors. The Manager acts under the supervision and direction of the Board. Specifically, the Manager is responsible for (1) the selection, purchase and sale of the Company’s investment portfolio, (2) the Company’s financing activities, and (3) providing the Company with advisory and management services. The Manager provides the Company with a management team, including a chief executive officer, president, chief accounting officer and chief operating officer, along with appropriate support personnel. None of the officers or employees of the Manager are dedicated exclusively to the Company. The Company pays the Manager a base management fee in an amount equal to the sum of: (A) 0.25 1.5 0.9 2.1 0.7 59,077 74,780 11.98 The Company also pays the Manager an incentive fee with respect to each calendar quarter in arrears. The incentive fee is equal to the difference between (1) the product of (x) 20 8 0.15 10,896 0.9 67,837 Management fee expense of $ 0.1 0.7 1.0 179,562 12.43 59,854 On July 2, 2015, the Company issued a grant of LTIP Units under the Amended 2014 Incentive Plans to the Company’s external manager, BRG Manager, LLC. The equity grant consisted of 283,390 0.5 0.5 11.98 The Company is also required to reimburse the Manager for certain expenses and pay all operating expenses, except those specifically required to be borne by the Manager under the Management Agreement. The Manager waived all reimbursements for the three and six months ended June 30, 2015. Reimbursements of $ 0.1 The initial term of the Management Agreement expires on April 2, 2017 (the third anniversary of the closing of the IPO), and will be automatically renewed for a one-year term on each anniversary date thereafter unless previously terminated in accordance with the terms of the Management Agreement. Following the initial term of the Management Agreement, the Management Agreement may be terminated annually upon the affirmative vote of at least two-thirds of the Company’s independent directors, based upon (1) unsatisfactory performance that is materially detrimental to the Company, or (2) the Company’s determination that the fees payable to the Manager are not fair, subject to the Manager’s right to prevent such termination due to unfair fees by accepting a reduction of the fees agreed to by at least two-thirds of the Company’s independent directors. The Company must provide 180 days’ prior notice of any such termination. Unless terminated for cause, as further described in the Management Agreement, the Manager will be paid a termination fee equal to three times the sum of the base management fee and incentive fee earned, in each case, by the Manager during the 12-month period immediately preceding such termination, calculated as of the end of the most recently completed fiscal quarter before the date of termination. The Company may also terminate the Management Agreement at any time, including during the initial term, without the payment of any termination fee, for cause with 30 days’ prior written notice from the Board. During the initial three-year term of the Management Agreement, the Company may not terminate the Management Agreement except as described above or in the following circumstance: At the earlier of (i) April 2, 2017 (three years following the completion of the IPO), and (ii) the date on which the value of the Company’s stockholders’ equity exceeds $ 250.0 The Manager may retain, at its sole cost and expense, the services of such persons and firms as the Manager deems necessary in connection with our management and operations (including accountants, legal counsel and other professional service providers), provided that such expenses are in amounts no greater than those that would be payable to third-party professionals or consultants engaged to perform such services pursuant to agreements negotiated on an arm’s-length basis. The Manager has in the past retained, and going forward may retain Konig & Associates, P.C., a professional corporation wholly-owned by Michael L. Konig, the Company’s Chief Operating Officer, Secretary and General Counsel, to provide transaction based legal services, if the Manager determines that such retention would be less expensive than retaining third party professionals. The Company incurred $ 0.2 25,000 Prior and Terminated Advisory Agreement Prior to the entry by the Company into the Management Agreement upon the completion of the IPO and the concurrent termination of the Advisory Agreement, the Former Advisor performed essentially the same duties and responsibilities as the Company’s new Manager. The Advisory Agreement had a one-year term expiring October 14, 2014, and was renewable for an unlimited number of successive one-year periods upon the mutual consent of the Company and its Advisor. The Former Advisor was entitled to receive a monthly asset management fee for the services it provided pursuant to the Advisory Agreement. For 2013 and subsequent, the monthly asset management fee was 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 was based only on the portion of the cost or value attributable to our investment in an asset if the Company did not own all of an asset. Pursuant to the Advisory Agreement, the Former Advisor was 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. For 2013 and subsequent, the acquisition fee was 2.50 The Former Advisor was also entitled to receive a financing fee for any loan or line of credit, made available to the Company. The Former Advisor was entitled to re-allow some, or all, of this fee to reimburse third parties with whom it subcontracted 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 0.25 1.5 50 6 1.5 In addition to the fees payable to the Former Advisor, the Company reimbursed the Former Advisor for all reasonable expenses incurred in connection with services provided to the Company, subject to the limitation that it would 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 25 2 The Company had issued 1,000 0.01 8 In general, under the Advisory Agreement, the Company contracted property management services for certain properties directly to non-affiliated third parties, in which event it was to pay the Former Advisor an oversight fee equal to 1 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 Manager and other Bluerock-affiliated entities. As a result, they owe fiduciary duties to each of these entities, their members, 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 Manager 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; and 3) the fees received by the Manager and its affiliates. September 30, December 31, 2015 2014 Amounts Payable to the Former Advisor under our Prior and Terminated Advisory Agreement Asset management and oversight fees $ - $ 404 Acquisition fees and disposition fees - 740 Financing fees - 36 Total payable to the Former Advisor - 1,180 Amounts Payable to the Manager under the New Management Agreement Base management fee 896 310 Incentive fee - 146 Other 143 7 Total payable to the Manager 1,039 463 Total amounts payable to Former Advisor and Manager $ 1,039 $ 1,643 The Former Advisor was entitled to the payment of certain fees in compensation for advisory and general management services rendered thereunder for periods prior to the Company’s initial public offering on April 2, 2014, and reimbursements for certain costs and expenses incurred in connection with the provision thereof, in an aggregate amount of $ 1.18 108,119 As of September 30, 2015 and December 31, 2014, we had $ 0.6 0.3 As of September 30, 2015 and December 31, 2014, we had $ 0.9 0.6 Bluerock Property Management, LLC The Company incurred $ 0.05 0.14

Stockholders' Equity

Stockholders' Equity	9 Months Ended
	Sep. 30, 2015
Stockholders Equity Note [Abstract]
Stockholders' Equity Note Disclosure [Text Block]	Note 11 – Stockholders’ Equity Net Income (Loss) Per Common Share Basic net income (loss) per common share is computed by dividing net income (loss) attributable to common stockholders, 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 income (loss) attributable to common stockholders by the sum of the weighted average number of common shares outstanding and any potential dilutive shares for the period. Net income (loss) attributable to common stockholders is computed by adjusting net income (loss) for the non-forfeitable dividends paid on non-vested restricted stock. The Company considers the requirements of the two-class method when preparing earnings per share. Earnings per share is not affected by the two-class method because the Company’s Class A, B-1, B-2 and B-3 common stock and LTIP Units participate in dividends on a one-for-one basis. Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net (loss) income from continuing operations attributable to common stockholders $ (574) $ (2,261) 2,157 $ (7,853) Dividends on restricted stock expected to vest (4) (1) (12) (6) Basic net (loss) income from continuing operations attributable to common stockholders $ (578) $ (2,262) $ 2,145 $ (7,859) Basic net (loss) income from discontinued operations attributable to common stockholders $ - $ 114 $ - $ 123 Weighted average common shares outstanding (1) 20,166,384 5,877,417 16,383,736 4,269,378 Potential dilutive shares (2) — — 12,302 — Weighted average common shares outstanding and potential dilutive shares (1) 20,166,384 5,877,417 16,396,038 4,269,378 (Loss) income per common share, basic Continuing operations $ (0.03) $ (0.38) $ 0.13 $ (1.84) Discontinued operations $ - $ 0.02 $ - $ 0.03 $ (0.03) $ (0.36) $ 0.13 $ (1.81) (Loss) income per common share, diluted Continuing operations $ (0.03) $ (0.38) $ 0.13 $ (1.84) Discontinued operations $ - $ 0.02 $ - $ 0.03 $ (0.03) $ (0.36) $ 0.13 $ (1.81) The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed below. The effect of the conversion of OP Units is not reflected in the computation of basic and diluted earnings per share, as they are exchangeable for Class A Common Stock on a one-for-one basis. The income allocable to such units is allocated on this same basis and reflected as noncontrolling interests in the accompanying consolidated financial statements. As such, the assumed conversion of these units would have no net impact on the determination of diluted earnings per share. (1) For 2015, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding. For 2014, amounts relate to shares of Class A, B-1, B-2 and B-3 common stock, common shares and LTIP Units outstanding. (2) Excludes 15,272 4,794 5,726 Class B Common Stock The Company raised capital in a continuous registered offering, carried out in a manner consistent with offerings of non-listed REITs, from its inception until September 9, 2013, when it terminated the continuous registered offering in connection with the Board’s consideration of strategic alternatives to maximize value to the Company’s stockholders. Through September 9, 2013, the Company had raised an aggregate of $ 22.6 On January 23, 2014, the Company's stockholders approved the second articles of amendment and restatement to our charter (the “Second Charter Amendment”), that provided, among other things, for the designation of a new share class of Class A common stock, and for the change of each existing outstanding share of our common stock into: • 1/3 of a share of our Class B-1 common stock; plus • 1/3 of a share of our Class B-2 common stock; plus • 1/3 of a share of our Class B-3 common stock. This transaction was effective upon filing the Second Charter Amendment with the State Department of Assessments and Taxation of the State of Maryland on March 26, 2014. The Company refers to Class B-1 common stock, Class B-2 common stock and Class B-3 common stock collectively as “Class B” common stock. We listed our Class A common stock on the NYSE MKT on March 28, 2014. Our Class B common stock is identical to our Class A common stock, except that (i) we do not intend to list our Class B common stock on a national securities exchange, and (ii) shares of our Class B common stock convert automatically into shares of Class A common stock at specified times, as follows: • March 23, 2015, in the case of our Class B-1 common stock; • September 19, 2015, in the case of our Class B-2 common stock; and • March 17, 2016, in the case of our Class B-3 common stock. On March 23, 2015, 353,630 353,630 Follow-On Equity Offerings On January 20, 2015, the Company closed its January 2015 Follow-On Offering of 4,600,000 0.01 12.50 53.7 On May 22, 2015, the Company completed an underwritten shelf takedown offering (the “May 2015 Follow-On Offering”) of 6,348,000 0.01 333 13.00 19 77.6 Operating Partnership and Long-Term Incentive Plan Units On April 2, 2014, concurrently with the completion of the IPO, the Company entered into the Second Amended and Restated Agreement of Limited Partnership of its Operating Partnership, Bluerock Residential Holdings, L.P. Pursuant to the amendment, the Company is the sole general partner of the Operating Partnership and may not be removed as general partner by the limited partners with or without cause. The limited partners of the Operating Partnership are Bluerock REIT Holdings, LLC, BR-NPT Springing Entity, LLC (“NPT”), Bluerock Property Management, LLC (“BPM”), our Manager, and Bluerock Multifamily Advisor, LLC (the “Former Advisor”), all of which are affiliates of Bluerock. Prior to the completion of the IPO, the Company owned, directly and indirectly, 100 9.87 4.59 5.28 5.50 1.40 4.10 The Partnership Agreement, as amended, provides, among other things, that the Operating Partnership initially has two classes of limited partnership interests, which are units of limited partnership interest (“OP Units”), and the Operating Partnership’s long-term incentive plan units (“LTIP Units”). In calculating the percentage interests of the partners in the Operating Partnership, LTIP Units are treated as OP Units. In general, LTIP Units will receive the same per-unit distributions as the OP Units. Initially, each LTIP Unit will have a capital account balance of zero and, therefore, will not have full parity with OP Units with respect to any liquidating distributions. However, the Partnership Agreement Amendment provides that “book gain,” or economic appreciation, in the Company’s assets realized by the Operating Partnership as a result of the actual sale of all or substantially all of the Operating Partnership’s assets, or the revaluation of the Operating Partnership’s assets as provided by applicable U.S. Department of Treasury regulations, will be allocated first to the holders of LTIP Units until their capital account per unit is equal to the average capital account per-unit of the Company’s OP Unit holders in the Operating Partnership. We expect that the Operating Partnership will issue OP Units to limited partners, and the Company, in exchange for capital contributions of cash or property, and will issue LTIP Units pursuant to the Company’s 2014 Equity Incentive Plan for Individuals and 2014 Equity Incentive Plan for Entities (collectively, the “Incentive Plans”), to persons who provide services to the Company, including the Company’s officers, directors and employees. Pursuant to the Partnership Agreement, as amended, any holders of OP Units, other than the Company or its subsidiaries, will receive redemption rights which, subject to certain restrictions and limitations, will enable them to cause the Operating Partnership to redeem their OP Units in exchange for cash or, at the Company’s option, shares of the Company’s Class A common stock, on a one-for-one basis. The Company has agreed to file, not earlier than one year after the closing of the IPO, one or more registration statements registering the issuance or resale of shares of its Class A common stock issuable upon redemption of the OP Units issued upon conversion of LTIP Units, which include those issued to the Manager and the Former Advisor. Subject to certain exceptions, the Operating Partnership will pay all expenses in connection with the exercise of registration rights under the Partnership Agreement. Equity Incentive Plans Prior to the Company’s IPO on April 2, 2014, the Company’s independent directors received an automatic grant of 5,000 2,500 20 20 On March 24, 2015, in accordance with the Company’s 2014 Equity Incentive Plan for Individuals (the “2014 Individuals Plan”), the Board authorized and each of the Company’s independent directors received two grants of 2,500 2,500 2,500 On May 28, 2015, the Company’s stockholders approved the amendment and restatement of the 2014 Individuals Plan, or the Amended Individuals Plan, and the 2014 Entities Plan, or the Amended Entities Plan (and together with the Amended Individuals Plan, the Amended 2014 Incentive Plans). The Amended 2014 Incentive Plans allow for the issuance of up to 475,000 Weighted average grant-date Non-Vested shares Shares (1) fair value (1) Balance at January 1, 2015 3,956 $ 90 Granted 15,000 197 Vested (4,480) (78) Forfeited — — Balance at September 30, 2015 14,476 $ 209 (1) The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed above. At September 30, 2015, there was $ 0.17 2.4 The Company currently uses authorized and unissued shares to satisfy share award grants. Equity Incentive Plans - LTIP Grants On July 2, 2015, the Company issued a grant of LTIP Units under the Amended 2014 Incentive Plans to the Company’s external manager, BRG Manager, LLC. The equity grant consisted of 283,390 0.5 0.5 11.98 LTIP Unit activity Date of Number of LTIP Units Issuance LTIP Units Balance at January 1, 2015 325,578 Fourth quarter 2014 Incentive Fee 2/18/2015 10,896 First quarter 2015 Incentive Fee 5/14/2015 67,837 Equity Incentive Plan Manager Incentive Grant 7/2/2015 283,390 Second quarter 2015 Base Management Fee 8/13/2015 59,077 Former Advisor Obligation 9/14/2015 108,119 Balance at September 30, 2015 854,897 Distributions On October 10, 2014, the Board declared monthly dividends for the fourth quarter of 2014 equal to a quarterly rate of $ 0.29 October 25, 2014 November 25, 2014 December 25, 2014 November 5, 2014 December 5, 2014 January 5, 2015 The declared dividends equal a monthly dividend on the Class A common stock and Class B common stock as follows: $ 0.096666 October 25, 2014 0.096667 November 25, 2014 On January 9, 2015, the Board declared monthly dividends for the first quarter of 2015 equal to a quarterly rate of $ 0.29 January 25, 2015 February 25, 2015 March 25, 2015 February 5, 2015 March 5, 2015 April 5, 2015 The declared dividends equal a monthly dividend on the Class A common stock and Class B common stock as follows: $ 0.096666 January 25, 2015 0.096667 February 25, 2015 On April 10, 2015, the Board declared monthly dividends for the second quarter of 2015 equal to a quarterly rate of $ 0.29 April 25, 2015 May 25, 2015 June 25, 2015 May 5, 2015 June 5, 2015 July 2, 2015 The declared dividends equal a monthly dividend on the Class A common stock and Class B common stock as follows: $ 0.096666 April 25, 2015 0.096667 May 25, 2015 June 25, 2015 On July 10, 2015, the Board declared monthly dividends for the third quarter of 2015 equal to a quarterly rate of $ 0.29 July 25, 2015 August 25, 2015 September 25, 2015 August 5, 2015 September 4, 2015 October 5, 2015 The declared dividends equal a monthly dividend on the Class A common stock and Class B common stock as follows: $ 0.096667 July 25, 2015 August 25, 2015 0.096666 September 25, 2015 A portion of each dividend may constitute a return of capital for tax purposes. There is no assurance that the Company will continue to declare dividends or at this rate. Holders of OP and LTIP Units are entitled to receive "distribution equivalents" at the same time as dividends are paid to holders of the Company's Class A common stock. The Company has a dividend reinvestment plan that allows for participating stockholders to have their dividend distributions automatically invested in additional Class A common shares based on the average price of the shares on the investment date. The Company plans to issue Class A common shares to cover shares required for investment. Distributions 2015 Declared Paid First Quarter Class A Common Stock $ 3,554 $ 3,073 Class B-1 Common Stock 68 103 Class B-2 Common Stock 103 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 96 96 Total first quarter 2015 $ 4,006 $ 3,560 Second Quarter Class A Common Stock $ 4,852 $ 4,236 Class B-2 Common Stock 103 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 110 104 Total second quarter 2015 $ 5,250 $ 4,628 Third Quarter Class A Common Stock $ 5,500 $ 5,465 Class B-2 Common Stock 68 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 221 178 Total third quarter 2015 $ 5,974 $ 5,931 Total nine months ended September 30, 2015 $ 15,230 $ 14,119

Commitments and Contingencies

Commitments and Contingencies	9 Months Ended
	Sep. 30, 2015
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	9 Months Ended
	Sep. 30, 2015
Economic Dependency Disclosure [Abstract]
Economic Dependency Disclosure [Text Block]	Note 13 – Economic Dependency The Company is dependent on its Manager, an affiliate of Bluerock, to provide external management services 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 Manager 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	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Declaration of Dividends On October 7, 2015, the Board declared monthly dividends for the fourth quarter of 2015 equal to a quarterly rate of $ 0.29 0.29 October 25, 2015 November 25, 2015 December 25, 2015 November 5, 2015 December 5, 2015 January 5, 2016 The declared dividends equal a monthly dividend on the Class A common stock and the Class B common stock as follows: $ 0.096666 October 25, 2015 0.096667 November 25, 2015 0.096667 December 25, 2015 Distributions Paid Declaration Distributions Total Shares Date Record Date Date Paid per Share Distribution Class A Common Stock July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 1,856 Class B-3 Common Stock July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 34 OP Units July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 27 LTIP Units July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 83 Class A Common Stock October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 1,856 Class B-3 Common Stock October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 34 OP Units October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 27 LTIP Units October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 83 Total $ 4,000 October 2015 8.250% Series A Cumulative Redeemable Preferred Stock Offering On October 21, 2015, the Company closed its October 2015 underwritten offering of 2,875,000 8.250 0.01 25.00 25.00 69.2 Sale of North Park Towers On October 16, 2015, the Company closed on the sale of the North Park Towers property, located in Southfield, Michigan. The 100 18.2 11.5 6.6 Acquisition of Phillips Creek and Sovereign Apartments On October 29, 2015, the Company, through subsidiaries of its Operating Partnership, completed investments of approximately $ 17.7 15.2 95.0 The Phillips Creek Property’s purchase price of approximately $ 55.3 38.7 The Sovereign Property’s purchase price of approximately $ 44.4 28.9

Basis of Presentation and Sum21

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	9 Months Ended
	Sep. 30, 2015
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	The Company operates as an umbrella partnership REIT in which Bluerock Residential Holdings, L.P. (its “Operating Partnership”), or its wholly-owned subsidiaries, owns substantially all of the property interests acquired on the Company’s behalf. As of September 30, 2015, limited partners other than the Company owned approximately 5.50 1.37 4.13 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. The Company consolidates entities in which it controls more than 50% of the voting equity and in which control does not rest with other investors. Investments in real estate joint ventures over which the Company has the ability to exercise significant influence, but for which it does not have financial or operating control, are accounted for using the equity method of accounting. These entities are reflected on the Company’s consolidated financial statements as “Investments in unconsolidated real estate joint ventures.” All significant intercompany accounts and transactions have been eliminated in the consolidated financial statements. The Company will consider future joint ventures for consolidation in accordance with the provisions required by the of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification (“ASC”) Topic 810: Consolidation. Certain amounts in prior year financial statement presentation have been reclassified to conform to the current period presentation.
Interim Financial Information [Policy Text Block]	Interim Financial Information The accompanying unaudited consolidated financial statements of the Company have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”) for interim financial reporting, and the instructions to Form 10-Q and Article 10-1 of Regulation S-X. Accordingly, the financial statements for interim reporting do not include all of the information and notes or disclosures required by GAAP for complete financial statements. In the opinion of management, all adjustments (consisting of normal recurring items) considered necessary for a fair presentation have been included. Operating results for interim periods should not be considered indicative of the operating results for a full year. The balance sheet at December 31, 2014 has been derived from the audited financial statements at that date, but does not include all of the information and disclosures required by GAAP for complete financial statements. For further information, refer to the financial statements and notes thereto included in our audited consolidated financial statements for the year ended December 31, 2014 contained in the Annual Report on Form 10-K as filed with the Securities and Exchange Commission (“SEC”) on March 4, 2015.
Basis of Accounting, Policy [Policy Text Block]	Summary of Significant Accounting Policies There have been no significant changes to the Company’s accounting policies since it filed its audited consolidated financial statements in its Annual Report on Form 10-K for the year ended December 31, 2014.
Use of Estimates, Policy [Policy Text Block]	Use of Estimates The preparation of the financial statements in conformity with 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. Actual results could differ from those estimates.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In April 2015, the FASB issued Accounting Standards Update No. 2015-03, “Interest - Imputation of Interest (Subtopic 835-30): Simplifying the Presentation of Debt Issuance Costs” (“ASU 2015-03”). The amendments in ASU 2015-03 require that debt issuance costs be presented in the balance sheet as a direct deduction from the carrying amount of that liability, consistent with debt discounts. The recognition and measurement guidance for debt issuance costs are not affected by the amendments in ASU 2015-03. The amendments in ASU 2015-03 become effective for public business entities in the first annual period beginning after December 15, 2015, and interim periods within those fiscal years, with early application permitted. The Company is currently evaluating the impact of this accounting standard. In February 2015, the FASB issued Accounting Standards Update No. 2015-02, “Consolidation (Topic 810): Amendments to the Consolidation Analysis” (“ASU 2015-02”). ASU 2015-02 eliminates specific consolidation guidance for limited partnerships and revises other aspects of consolidation analysis, including how kick-out rights, fee arrangements and related parties are assessed. ASU 2015-02 is effective for public business entities for fiscal years, and for interim periods within those fiscal years, beginning after December 15, 2015, with early adoption permitted. The Company is currently evaluating the impact of ASU 2015-02 on the Company’s financial statements. In January 2015, the FASB issued Accounting Standards Update No. 2015-01, “Income Statement - Extraordinary and Unusual Items (Subtopic 225-20): Simplifying Income Statement Presentation by Eliminating the Concept of Extraordinary Items” (“ASU 2015-01”), which eliminates the concept of extraordinary items and require items that are either unusual in nature or infrequently occurring to be reported as a separate component of income from continuing operations or disclosed in the notes to the financial statements. ASU 2015-01 is effective for periods beginning after December 15, 2015, with early adoption permitted. ASU 2015-01 is not expected to have a material impact on the Company's financial statements. In August 2014, the FASB issued ASU No. 2014-15, “Presentation of Financial Statements - Going Concern” (“ASU 2014-15”), which requires an entity's management to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the entity's ability to continue as a going concern within one year after the date that the financial statements are issued. ASU 2014-15 is effective for periods beginning after December 15, 2016. ASU 2014-15 is not expected to have a material impact on the Company's financial statements. In May 2014, the FASB issued ASU No. 2014-09, “Revenue from Contracts with Customers (Topic 606)” (“ASU 2014-09”). The updated standard is a new comprehensive revenue recognition model that requires revenue to be recognized in a manner that depicts the transfer of goods or services to a customer at an amount that reflects the consideration expected to be received in exchange for those goods or services. In July 2015, the FASB voted to approve the deferral of the effective date of ASU 2014-09 by one year. Therefore, ASU 2014-09 will become effective for the Company in the first quarter of the fiscal year ending December 31, 2018. Early adoption is permitted, but not earlier than the first quarter of the fiscal year ending December 31, 2017. The ASU allows for either full retrospective or modified retrospective adoption. The Company has not selected a transition method, and is currently evaluating the effect that ASU 2014-09 will have on the consolidated financial statements and related disclosures.

Real Estate Assets Held for S22

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate Assets Held for Development and Sale [Abstract]
Schedule of Disposal Groups, Including Discontinued Operations, Income Statement, Balance Sheet and Additional Disclosures [Table Text Block]	The following is a summary of the results of operations of the Creekside property classified as discontinued operations for the three and nine months ended September 30, 2014 (amounts in thousands); there were no operations for the three and nine months ended September 30, 2015 as the property was sold on March 28, 2014: Three Months Ended Nine Months Ended September 30, September 30, September 30, September 30, 2015 2014 2015 2014 Total revenues $ — $ — $ — $ 508 Expenses Property operating — 114 — (171) Depreciation and amortization — — — (183) Management fees — — — (8) Interest, net — — — (149) Loss on operations of rental property $ — $ 114 $ — $ (3) Gain on sale of joint venture interest — — — 1,006 Loss on early extinguishment of debt — — — (880) (Loss) Income from discontinued operations $ — $ 114 $ — $ 123

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	9 Months Ended
	Sep. 30, 2015
Real Estate [Abstract]
Schedule Of Equity Method Investments And Consolidation Accounting Investments [Table Text Block]	The following tables provide summary information regarding our operating and development investments, which are either consolidated or presented on the equity method of accounting. Operating Properties Multifamily Community Name/Location Number of Units Date Built/Renovated (1) Ownership Interest Average Rent (2) % Occupied (3) ARIUM Grandewood/ Orlando, FL (4) 306 2005 95.00 % $ 1,169 96 % ARIUM Palms/ Orlando, FL 252 2008 95.00 % 1,156 92 % Ashton I/ Charlotte, NC 322 2012 100.0 % 1,022 91 % Enders Place at Baldwin Park/ Orlando, FL 220 2003 89.50 % 1,563 97 % EOS/ Orlando, FL (5) 296 Est. 2015 — 1,211 30 % Fox Hill/ Austin , TX 288 2010 94.62 % 1,093 99 % Lansbrook Village/ Palm Harbor, FL 601 2004 76.81 % 1,167 93 % MDA Apartment/ Chicago, IL 190 2006 35.31 % 2,244 96 % North Park Towers/ Southfield, MI (6) 313 2000 100.0 % 1,065 95 % Park & Kingston/ Charlotte, NC 153 2014 96.00 % 1,195 98 % Springhouse at Newport News/Newport News, VA 432 1985 75.00 % 826 95 % Village Green of Ann Arbor/ Ann Arbor, MI 520 2013 48.61 % 1,159 95 % Whetstone / Durham, NC (5) 204 2015 — 1,325 67 % Total/Average 4,097 $ 1,189 95 % (1) (2) (3) (4) (5) (6)
Schedule Of Development Properties In Real Estate [Table Text Block]	Development Properties Pro Forma Number of Initial Final Units to Average Rent Multifamily Community Name/Location Units Occupancy be Delivered (1) Alexan CityCentre / Houston, TX 340 4Q 2016 4Q 2017 $ 2,144 Alexan Southside Place / Houston, TX 269 3Q 2017 2Q 2018 $ 2,019 Cheshire Bridge / Atlanta, GA 285 1Q 2017 3Q 2017 $ 1,559 Total/Average 894 $ 1,921 (1) Represents the average pro forma effective monthly rent per occupied unit for all expected occupied units upon stabilization.

Acquisition of Real Estate (Tab

Acquisition of Real Estate (Tables)	9 Months Ended
	Sep. 30, 2015
Business Combinations [Abstract]
Schedule of Purchase Prices Allocations [Table Text Block]	The following table summarizes the assets acquired at the acquisition date. The amounts listed below reflect provisional amounts that will be updated as information becomes available (amounts in thousands): Preliminary Purchase Price Allocation Land $ 15,270 Building 112,431 Building improvements 8,884 Land improvements 6,265 Furniture and fixtures 3,136 In-place leases 2,806 Total assets acquired $ 148,792
Business Acquisition, Pro Forma Information [Table Text Block]	The pro-forma information presented below represents the change in consolidated revenue and earnings as if the Company's significant acquisitions of Village Green of Ann Arbor, North Park Towers, Lansbrook Village, ARIUM Grandewood, Fox Hill, Ashton I and ARIUM Palms (collectively, the "Recent Acquisitions"), had occurred on January 1, 2014 (amounts in thousands, except per share amounts). Park & Kingston is excluded from the pro forma information as the property was under development during 2014. Nine Months Ended September 30, Nine Months Ended September 30, 2015 2014 Pro-Forma Pro-Forma As Reported Adjustments Pro-Forma As Reported Adjustments Pro-Forma Revenues $ 31,065 $ 5,811 $ 36,876 $ 20,547 $ 17,292 $ 37,839 Net income (loss) $ 8,041 $ 2,283 $ 10,324 $ (9,200) $ (6,140) $ (15,340) Net income (loss) attributable to BRG $ 2,157 $ 2,173 $ 4,330 $ (7,730) $ (5,521) $ (13,251) Earnings (loss) per share, basic and diluted (1) $ 0.13 $ 0.26 $ (1.81) $ (3.10) (1) Pro-forma earnings (loss) per share, both basic and diluted, are calculated based on the net income (loss) attributable to BRG.

Investments in Unconsolidated25

Investments in Unconsolidated Real Estate Joint Ventures (Tables)	9 Months Ended
	Sep. 30, 2015
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments [Table Text Block]	The carrying amount of the Company’s investments in unconsolidated real estate joint ventures as of September 30, 2015 and December 31, 2014 is summarized in the table below (amounts in thousands): September 30, December 31, Property 2015 2014 Alexan CityCentre $ 6,505 $ 6,505 EOS 3,629 3,629 Alexan Southside Place 17,322 - Whetstone 12,231 - Cheshire Bridge 15,639 - 23Hundred Berry Hill - 4,906 Villas at Oak Crest - 3,170 Other - 121 Total $ 55,326 $ 18,331
Preferred Equity Method Investments [Table Text Block]	The Company’s investments in Alexan CityCentre, EOS, Alexan Southside Place, Whetstone and Cheshire Bridge represent preferred equity investments with the following stated returns: Current Pay Accrued Total Annualized Annualized Annualized Preferred Preferred Preferred Property Return Return Return Alexan CityCentre 15.0 % — 15.0 % EOS 15.0 % — 15.0 % Alexan Southside Place 15.0 % — 15.0 % Whetstone 15.0 % — 15.0 % Cheshire Bridge 15.0 % — 15.0 %
Equity Income Loss of Joint Ventures [Table Text Block]	The equity in income (loss) of the Company’s unconsolidated real estate joint ventures for the three and nine months ended September 30, 2015 and 2014 is summarized below (amounts in thousands): Three Months Ended September 30, Nine Months Ended September 30, Property 2015 2014 2015 2014 Villas at Oak Crest $ 278 $ 100 $ 489 $ 214 Alexan CityCentre 246 181 730 181 Alexan Southside Place 655 — 1,341 — EOS 137 93 407 93 Whetstone 462 — 669 — Cheshire Bridge 591 — 787 — The Estates at Perimeter/Augusta — 38 (1) 4 Other (3) — (31) — Equity in earnings of unconsolidated joint venture $ 2,366 $ 412 $ 4,391 $ 492
Schedule Of Condensed Financial Statements [Table Text Block]	September 30, December 31, 2015 2014 Balance Sheets: Real estate, net of depreciation $ 119,649 $ 55,091 Real estate, net of depreciation, held for sale — 31,334 Other assets 22,254 1,193 Other assets, held for sale — 2,458 Total assets $ 141,903 $ 90,076 Mortgages payable $ 61,998 $ 19,820 Mortgage payable, held for sale — 23,569 Other liabilities 3,680 2,812 Other liabilities, held for sale — 1,026 Total liabilities $ 65,678 $ 47,227 Members’ equity 76,225 42,849 Total liabilities and members’ equity $ 141,903 $ 90,076 Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Operating Statement: Rental revenues $ 561 $ 694 $ 1,885 $ 1,992 Operating expenses (695) (264) (2,166) (786) Income before debt service, acquisition costs, and depreciation and amortization (134) 430 (281) 1,206 Interest expense, net (167) (189) (544) (562) Acquisition costs — — (66) — Depreciation and amortization (721) (204) (1,304) (605) Operating (loss) (1,022) 37 (2,195) 39 Gain on sale — — 29,200 — Net (loss) income $ (1,022) $ 37 $ 27,005 $ 39

Mortgages Payable (Tables)

Mortgages Payable (Tables)	9 Months Ended
	Sep. 30, 2015
Debt Disclosure [Abstract]
Schedule of Mortgage Notes Payable [Table Text Block]	Outstanding Principal As of September 30, 2015 Property September 30, 2015 December 31, 2014 Interest Rate Fixed/ Floating Maturity Date ARIUM Grandewood $ 29,444 $ 29,444 1.87 % Floating (1) December 1, 2024 ARIUM Palms 24,999 - 2.42 % Floating (2) September 1, 2022 Ashton I 31,900 - 4.67 % Fixed December 1, 2025 Enders Place at Baldwin Park (3) 25,250 25,475 4.30 % Fixed November 1, 2022 Fox Hill 26,705 - 3.57 % Fixed April 1, 2022 Lansbrook Village 43,628 42,357 4.40 % Blended (4) March 31, 2018 MDA Apartments 37,600 37,600 5.35 % Fixed January 1, 2023 Park & Kingston 15,250 - 3.21 % Fixed April 1, 2020 Springhouse at Newport News 22,264 22,515 5.66 % Fixed January 1, 2020 Village Green of Ann Arbor 42,518 43,078 3.92 % Fixed October 1, 2022 Total 299,558 200,469 Fair value adjustments 1,710 874 Total continuing operations 301,268 201,343 North Park Towers - held for sale 11,500 11,500 5.65 % Fixed January 6, 2024 Total $ 312,768 $ 212,843 (1) (2) (3) (4)
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	As of September 30, 2015, contractual principal payments for the five subsequent years and thereafter are as follows (amounts in thousands): Year Total 2015 (October 1-December 31) $ 375 2016 2,762 2017 3,532 2018 45,364 2019 3,888 Thereafter 255,137 $ 311,058 Add: Unamortized fair value debt adjustment 1,710 Total $ 312,768

Related Party Transactions (Tab

Related Party Transactions (Tables)	9 Months Ended
	Sep. 30, 2015
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions [Table Text Block]	Pursuant to the terms of the Advisory Agreement and the Management Agreement, summarized below are the related party amounts payable to our Former Advisor and the Manager, as of September 30, 2015 and December 31, 2014 (in thousands): September 30, December 31, 2015 2014 Amounts Payable to the Former Advisor under our Prior and Terminated Advisory Agreement Asset management and oversight fees $ - $ 404 Acquisition fees and disposition fees - 740 Financing fees - 36 Total payable to the Former Advisor - 1,180 Amounts Payable to the Manager under the New Management Agreement Base management fee 896 310 Incentive fee - 146 Other 143 7 Total payable to the Manager 1,039 463 Total amounts payable to Former Advisor and Manager $ 1,039 $ 1,643

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	9 Months Ended
	Sep. 30, 2015
Stockholders Equity Note [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	Three Months Ended September 30, Nine Months Ended September 30, 2015 2014 2015 2014 Net (loss) income from continuing operations attributable to common stockholders $ (574) $ (2,261) 2,157 $ (7,853) Dividends on restricted stock expected to vest (4) (1) (12) (6) Basic net (loss) income from continuing operations attributable to common stockholders $ (578) $ (2,262) $ 2,145 $ (7,859) Basic net (loss) income from discontinued operations attributable to common stockholders $ - $ 114 $ - $ 123 Weighted average common shares outstanding (1) 20,166,384 5,877,417 16,383,736 4,269,378 Potential dilutive shares (2) — — 12,302 — Weighted average common shares outstanding and potential dilutive shares (1) 20,166,384 5,877,417 16,396,038 4,269,378 (Loss) income per common share, basic Continuing operations $ (0.03) $ (0.38) $ 0.13 $ (1.84) Discontinued operations $ - $ 0.02 $ - $ 0.03 $ (0.03) $ (0.36) $ 0.13 $ (1.81) (Loss) income per common share, diluted Continuing operations $ (0.03) $ (0.38) $ 0.13 $ (1.84) Discontinued operations $ - $ 0.02 $ - $ 0.03 $ (0.03) $ (0.36) $ 0.13 $ (1.81) (1) For 2015, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding. For 2014, amounts relate to shares of Class A, B-1, B-2 and B-3 common stock, common shares and LTIP Units outstanding. (2) Excludes 15,272 4,794 5,726
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 September 30, 2015 is as follows (amounts in thousands, except share amounts): Weighted average grant-date Non-Vested shares Shares (1) fair value (1) Balance at January 1, 2015 3,956 $ 90 Granted 15,000 197 Vested (4,480) (78) Forfeited — — Balance at September 30, 2015 14,476 $ 209 (1) The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed above.
Schedule Of Limited Partners Capital Account [Table Text Block]	Date of Number of LTIP Units Issuance LTIP Units Balance at January 1, 2015 325,578 Fourth quarter 2014 Incentive Fee 2/18/2015 10,896 First quarter 2015 Incentive Fee 5/14/2015 67,837 Equity Incentive Plan Manager Incentive Grant 7/2/2015 283,390 Second quarter 2015 Base Management Fee 8/13/2015 59,077 Former Advisor Obligation 9/14/2015 108,119 Balance at September 30, 2015 854,897
Schedule of Distributions Made to Members or Limited Partners, by Distribution [Table Text Block]	Distributions declared and paid for the three and nine months ended September 30, 2015 were as follows (amounts in thousands): Distributions 2015 Declared Paid First Quarter Class A Common Stock $ 3,554 $ 3,073 Class B-1 Common Stock 68 103 Class B-2 Common Stock 103 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 96 96 Total first quarter 2015 $ 4,006 $ 3,560 Second Quarter Class A Common Stock $ 4,852 $ 4,236 Class B-2 Common Stock 103 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 110 104 Total second quarter 2015 $ 5,250 $ 4,628 Third Quarter Class A Common Stock $ 5,500 $ 5,465 Class B-2 Common Stock 68 103 Class B-3 Common Stock 103 103 OP Units 82 82 LTIP Units 221 178 Total third quarter 2015 $ 5,974 $ 5,931 Total nine months ended September 30, 2015 $ 15,230 $ 14,119

Subsequent Events (Tables)

Subsequent Events (Tables)	9 Months Ended
	Sep. 30, 2015
Subsequent Events [Abstract]
Schedule of Subsequent Events [Table Text Block]	The following distributions were paid to the Company's holders of Class A, Class B-3 common stock as well as holders of OP and LTIP Units subsequent to September 30, 2015 (amounts in thousands): Declaration Distributions Total Shares Date Record Date Date Paid per Share Distribution Class A Common Stock July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 1,856 Class B-3 Common Stock July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 34 OP Units July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 27 LTIP Units July 10, 2015 September 25, 2015 October 5, 2015 $ 0.096666 $ 83 Class A Common Stock October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 1,856 Class B-3 Common Stock October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 34 OP Units October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 27 LTIP Units October 7, 2015 October 25, 2015 November 5, 2015 $ 0.096666 $ 83 Total $ 4,000

Organization and Nature of Bu30

Organization and Nature of Business (Details Textual) $ / shares in Units, $ in Thousands	Oct. 08, 2014USD ($)$ / sharesshares	Sep. 09, 2013USD ($)	May. 22, 2015USD ($)$ / sharesshares	Jan. 20, 2015USD ($)$ / sharesshares	Mar. 28, 2014USD ($)$ / sharesshares	Sep. 30, 2015USD ($)$ / shares	Sep. 30, 2014USD ($)	Dec. 31, 2014$ / shares
Organization and Nature of Business [Line Items]
Proceeds From Issuance Of Common Stock	$ 32,900	$ 22,600				$ 131,313	$ 43,977
Contribution Transactions Completed Description						a series of related contribution transactions pursuant to which it acquired indirect equity interests in four apartment properties, and a 100% fee simple interest in a fifth apartment property for an aggregate asset value of $152.3 million (inclusive of Villas of Oak Crest, which is accounted for under the equity method, and Springhouse, in which the Company already owned an interest and which has been reported as consolidated prior to the IPO).
Number of Units in Real Estate Property						4,991
Annual Distribution Percentage Rate						90.00%
Common Class A [Member]
Organization and Nature of Business [Line Items]
Proceeds From Issuance Of Common Stock			$ 77,600	$ 53,700
Stock Issued During Period, Shares, New Issues | shares	3,035,444		6,348,000	4,600,000
Proceeds from Issuance Initial Public Offering					$ 44,000
Stockholders Equity, Reverse Stock Split						Immediately following the filing of the Second Charter Amendment, we effectuated a 2.264881 to 1 reverse stock split of our outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock, and on March 31, 2014, we effected an additional 1.0045878 to 1 reverse stock split of our outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock.
Sale of Stock, Price Per Share | $ / shares	$ 11.90		$ 13	$ 12.50
Common Stock, Par or Stated Value Per Share | $ / shares			$ 0.01	$ 0.01		$ 0.01		$ 0.01
IPO [Member]
Organization and Nature of Business [Line Items]
Stockholders Equity, Reverse Stock Split						Following the filing of the Second Charter Amendment, the Company effected a 2.264881-to-1 reverse stock split of its outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock, and on March 31, 2014, the Company effected an additional 1.0045878-to-1 reverse stock split of its outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock.
IPO [Member] | Common Class A [Member]
Organization and Nature of Business [Line Items]
Stock Issued During Period, Shares, New Issues | shares					3,448,276
Shares Issued, Price Per Share | $ / shares					$ 14.50
Proceeds From Issuance Initial Public Offering Gross					$ 50,000
Operating Property [Member]
Organization and Nature of Business [Line Items]
Percent of Real Estate Properties Occupied						95.00%
Operating Units [Member]
Organization and Nature of Business [Line Items]
Number of Units in Real Estate Property						4,097
Under Development [Member]
Organization and Nature of Business [Line Items]
Number of Units in Real Estate Property						894

Basis of Presentation and Sum31

Basis of Presentation and Summary of Significant Accounting Policies (Details Textual)	9 Months Ended	12 Months Ended
	Sep. 30, 2015	Dec. 31, 2014
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest		42.20%
OP LTIP unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	5.50%
OP Unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	1.37%
LTIP Unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	4.13%

Real Estate Assets Held for S32

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Expenses
Management fees	$ (896)	$ (225)	$ (3,051)	$ (548)
Loss on early extinguishment of debt	0	0	0	(880)
Income from discontinued operations	0	114	0	123
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues	0	0	0	508
Expenses
Property operating	0	114	0	(171)
Depreciation and amortization	0	0	0	(183)
Management fees	0	0	0	(8)
Interest, net	0	0	0	(149)
Loss on operations of rental property	0	114	0	(3)
Gain on sale of joint venture interest	0	0	0	1,006
Loss on early extinguishment of debt	0	0	0	(880)
Income from discontinued operations	$ 0	$ 114	$ 0	$ 123

Real Estate Assets Held for S33

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests (Details Textual) - USD ($) $ in Millions	Jan. 14, 2015	Dec. 10, 2014	Dec. 18, 2014	Mar. 28, 2014	Sep. 30, 2015	Dec. 31, 2014
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest						42.20%
Prior To Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest					100.00%
Berry Hill [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage					25.10%
Fund III [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage					28.40%
Fund III [Member] | Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest						22.40%
Bemt Berry Hill [Member] | Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest						19.80%
BR Creekside [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage				24.70%
Disposition Fees				$ 0.1
Proceeds from Sale of Real Estate Gross				18.9
Payments for Mortgage on Real Estate Sold				13.5
Proceeds from Sale of Real Estate				1.2
Deferred Gain on Sale of Property				$ 1
BEMT Augusta, LLC [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage		25.00%
Estates at Perimeter/Augusta [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Net Proceeds From Divestiture Of Interest In Joint Venture		$ 1.7
Gain On Sale Of Equity Interests		$ 0.6
BRG Co-Owner [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage		50.00%	40.00%
Waypoint Residential Services [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale Of Joint Venture Equity Interest For Unaffiliate		$ 26
BRG Grove [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage			60.00%
BGF’s subsidiary BGF 23Hundred, LLC [Member] | Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest						22.90%
SH 23Hundred TIC, LLC [Member] | Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest						34.80%
Bluerock Growth Fund, LLC [Member] | Prior To Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest					29.00%
Un Affiliated Third Party [Member] | Prior To Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest					17.50%
BR Stonehenge 23Hundred JV, LLC [Member] | Prior To Restructuring [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest					100.00%
Fund II LLC [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage		25.00%
Bel Hendersonville [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale Of Joint Venture Equity Interest For Unaffiliate			$ 37.7
Waterford [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Proceeds from Divestiture of Interest in Joint Venture			9
Gain On Sale Of Equity Interests			$ 3.5
Berry Hill General Partnership [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Disposition Fees					$ 0.1
Sale Of Joint Venture Equity Interest For Unaffiliate	$ 61.2
Net Proceeds From Divestiture Of Interest In Joint Venture	7.3
Gain On Sale Of Equity Interests	$ 11.3
Gain On Sale Of Equity Investments Pro Rata Basis					$ 5.3

Investments in Real Estate (Det

Investments in Real Estate (Details)	9 Months Ended
	Sep. 30, 2015USD ($)Number
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units | Number	894
Pro Forma Average Rent	$ 1,921	[1]
Alexan CityCentre [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units | Number	340
Pro Forma Average Rent	$ 2,144	[1]
Final Units to be Delivered	4Q 2017
Initial Occupancy	4Q 2016
Alexan Southside Place / Houston, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units | Number	269
Pro Forma Average Rent	$ 2,019	[1]
Final Units to be Delivered	2Q 2018
Initial Occupancy	3Q 2017
Cheshire Bridge / Atlanta, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units | Number	285
Pro Forma Average Rent	$ 1,559	[1]
Final Units to be Delivered	3Q 2017
Initial Occupancy	1Q 2017
MDA Apartment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	190
Date Build/Renovated	2,006	[2]
Ownership Interest	35.31%
Pro Forma Average Rent	$ 2,244	[3]
% Occupied	96.00%	[4]
Enders at Baldwin Park [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	220
Date Build/Renovated	2,003	[2]
Ownership Interest	89.50%
Pro Forma Average Rent	$ 1,563	[3]
% Occupied	97.00%	[4]
Whetstone Durham N C [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	204	[5]
Date Build/Renovated	2,015	[2],[5]
Ownership Interest	0.00%	[5]
Pro Forma Average Rent	$ 1,325	[3],[5]
% Occupied	67.00%	[4],[5]
Park Kingston, Charlotte [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	153
Date Build/Renovated	2,014	[2]
Ownership Interest	96.00%
Pro Forma Average Rent	$ 1,195	[3]
% Occupied	98.00%	[4]
Lansbrook Village [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	601
Date Build/Renovated	2,004	[2]
Ownership Interest	76.81%
Pro Forma Average Rent	$ 1,167	[3]
% Occupied	93.00%	[4]
ARIUM Grandewood [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	306	[6]
Date Build/Renovated	2,005	[2],[6]
Ownership Interest	95.00%	[6]
Pro Forma Average Rent	$ 1,169	[3],[6]
% Occupied	96.00%	[4],[6]
Village Green of Ann Arbor [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	520
Date Build/Renovated	2,013	[2]
Ownership Interest	48.61%
Pro Forma Average Rent	$ 1,159	[3]
% Occupied	95.00%	[4]
Fox Hill, Austin [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	288
Date Build/Renovated	2,010	[2]
Ownership Interest	94.62%
Pro Forma Average Rent	$ 1,093	[3]
% Occupied	99.00%	[4]
North Park Towers [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	313	[7]
Date Build/Renovated	2,000	[2],[7]
Ownership Interest	100.00%	[7]
Pro Forma Average Rent	$ 1,065	[3],[7]
% Occupied	95.00%	[4],[7]
Springhouse at Newport News [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	432
Date Build/Renovated	1,985	[2]
Ownership Interest	75.00%
Pro Forma Average Rent	$ 826	[3]
% Occupied	95.00%	[4]
Average [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	4,097
Pro Forma Average Rent	$ 1,189	[3]
% Occupied	95.00%	[4]
EOS Orlando F L [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	296	[5]
Date Build/Renovated	Est. 2015	[2],[5]
Ownership Interest	0.00%	[5]
Pro Forma Average Rent	$ 1,211	[3],[5]
% Occupied	30.00%	[4],[5]
ARIUM Palms Orlando, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	252
Date Build/Renovated	2,008	[2]
Ownership Interest	95.00%
Pro Forma Average Rent	$ 1,156	[3]
% Occupied	92.00%	[4]
Ashton I Charlotte, NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	322
Date Build/Renovated	2,012	[2]
Ownership Interest	100.00%
Pro Forma Average Rent	$ 1,022	[3]
% Occupied	91.00%	[4]
[1]	Represents the average pro forma effective monthly rent per occupied unit for all expected occupied units upon stabilization.
[2]	Represents date of last significant renovation or year built if there were no renovations.
[3]	Represents the average effective monthly rent per occupied unit for all occupied units for the three months ended September 30, 2015, excluding Whetstone and EOS which are still in lease-up. Total concessions for the three months ended September 30, 2015 amounted to approximately $91,000.
[4]	Percent occupied is calculated as (i) the number of units occupied as of September 30, 2015, divided by (ii) total number of units, expressed as a percentage, excluding Whetstone and EOS which are still in lease-up.
[5]	Whetstone and EOS are currently preferred equity investments providing a stated investment return and both properties are in leaseup and actual average rents were $966 and $1,174, respectively, net of upfront leaseup concessions.
[6]	ARIUM Grandewood was formerly called ARIUM Grande Lakes.
[7]	This property is classified as held for sale as of September 30, 2015 and accounted for on a consolidated basis based on our 100% ownership in the property. Amounts related to this investment are classified as held for sale assets/liabilities on the Company’s consolidated balance sheet.

Investments in Real Estate (D35

Investments in Real Estate (Details Textual) - USD ($)	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Real Estate Property [Line Items]
Concessions Costs			$ 91,000
SEC Schedule III, Real Estate Accumulated Depreciation, Depreciation Expense	$ 3,100,000	$ 2,600,000	8,200,000	$ 6,000,000
Amortization of Deferred Leasing Fees	$ 900,000	$ 2,100,000	2,300,000	$ 3,800,000
Operating Leases, Rent Expense, Net, Total			966
Payments for Rent			$ 1,174

Acquisition of Real Estate (Det

Acquisition of Real Estate (Details) $ in Thousands	Sep. 30, 2015USD ($)
Preliminary Purchase Price Allocation
Land	$ 15,270
Building	112,431
Building improvements	8,884
Land improvements	6,265
Furniture and fixtures	3,136
In-place leases	2,806
Total assets acquired	$ 148,792

Acquisition of Real Estate (D37

Acquisition of Real Estate (Details1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Business Acquisition [Line Items]
Revenues		$ 11,560	$ 9,556	$ 31,065	$ 20,547
Net income (loss)		(602)	(2,645)	8,041	(9,200)
Net income (loss) attributable to BRG		$ (574)	$ (2,147)	2,157	(7,730)
Scenario, Previously Reported [Member]
Business Acquisition [Line Items]
Revenues				31,065	20,547
Net income (loss)				8,041	(9,200)
Net income (loss) attributable to BRG				$ 2,157	$ (7,730)
Earnings (loss) per share, basic and diluted (in dollars per share)	[1]			$ 0.13	$ (1.81)
Scenario, Adjustment [Member]
Business Acquisition [Line Items]
Revenues				$ 5,811	$ 17,292
Net income (loss)				2,283	(6,140)
Net income (loss) attributable to BRG				2,173	(5,521)
Pro Forma [Member]
Business Acquisition [Line Items]
Revenues				36,876	37,839
Net income (loss)				10,324	(15,340)
Net income (loss) attributable to BRG				$ 4,330	$ (13,251)
Earnings (loss) per share, basic and diluted (in dollars per share)	[1]			$ 0.26	$ (3.10)
[1]	Pro-forma earnings (loss) per share, both basic and diluted, are calculated based on the net income (loss) attributable to BRG.

Acquisition of Real Estate (D38

Acquisition of Real Estate (Details Textual) - USD ($) $ in Thousands	1 Months Ended						9 Months Ended
	Aug. 20, 2015	May. 31, 2015	May. 26, 2015	May. 16, 2015	Mar. 26, 2015	Mar. 16, 2015	Sep. 30, 2015	Sep. 30, 2014	Aug. 19, 2015
Business Acquisition [Line Items]
Aggregate Property Level Revenues And Recent Acquisitions							$ 20,100
Aggregate Property Level Net Income And Recent Acquisitions							1,100
Maximum Percentage Of Appraised Value In Supplemental Financing						70.00%
Noncash or Part Noncash Acquisition, Debt Assumed							$ 32,942	$ 116,800
Park Kingston Phase I Units [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest						46.95%
Business Acquisition Indirect Ownership, Amount		$ 6,500				$ 6,300
Park Kingston Phase I Units [Member] | Phase I [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount						27,850
Park Kingston Phase I Units [Member] | Minimum [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		46.95%		96.00%
Park Kingston Phase I Units [Member] | Maximum [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		96.00%		46.95%
Park Kingston Phase I Units [Member] | Senior Secured Mortgage Loan [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount						15,250
Park Kingston Phase II Units [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount						$ 2,870
Fox Hill [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest					85.27%
Business Acquisition Indirect Ownership, Amount		$ 1,100			$ 10,200
Fox Hill [Member] | Minimum [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		85.27%	94.62%
Fox Hill [Member] | Maximum [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest		94.62%	85.27%
Business Acquisition Indirect Ownership, Amount					38,150
Fox Hill [Member] | Senior Secured Mortgage Loan [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount					$ 26,710
Ashton I [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount									$ 13,500
Ashton I [Member] | Maximum [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount									44,750
Ashton I [Member] | Senior Secured Mortgage Loan [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount									31,900
ARIUM Palms [Member]
Business Acquisition [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest	95.00%
Business Acquisition Indirect Ownership, Amount	$ 13,000
ARIUM Palms [Member] | Maximum [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount	37,000
ARIUM Palms [Member] | Senior Secured Mortgage Loan [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount	$ 25,000
Ashton II [Member]
Business Acquisition [Line Items]
Business Acquisition Indirect Ownership, Amount									$ 20,600

Investments in Unconsolidated39

Investments in Unconsolidated Real Estate Joint Ventures (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 55,326	$ 18,331
Villas at Oak Crest [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	0	3,170
Alexan CityCentre [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	6,505	6,505
EOS [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	3,629	3,629
Hundred Berry Hill [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	0	4,906
Alexan Southside Place [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	17,322	0
Whetstone [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	12,231	0
Cheshire Bridge [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	15,639	0
Others [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 0	$ 121

Investments in Unconsolidated40

Investments in Unconsolidated Real Estate Joint Ventures (Details 1)	Sep. 30, 2015
Alexan CityCentre [Member]
Schedule of Equity Method Investments [Line Items]
Current Pay Annualized Preferred Return Percentage	15.00%
Accrued Annualized Preferred Return Percentage	0.00%
Annualized Preferred Return, Total Percentage	15.00%
EOS [Member]
Schedule of Equity Method Investments [Line Items]
Current Pay Annualized Preferred Return Percentage	15.00%
Accrued Annualized Preferred Return Percentage	0.00%
Annualized Preferred Return, Total Percentage	15.00%
Alexan Southside Place [Member]
Schedule of Equity Method Investments [Line Items]
Current Pay Annualized Preferred Return Percentage	15.00%
Accrued Annualized Preferred Return Percentage	0.00%
Annualized Preferred Return, Total Percentage	15.00%
Whetstone [Member]
Schedule of Equity Method Investments [Line Items]
Current Pay Annualized Preferred Return Percentage	15.00%
Accrued Annualized Preferred Return Percentage	0.00%
Annualized Preferred Return, Total Percentage	15.00%
Cheshire Bridge [Member]
Schedule of Equity Method Investments [Line Items]
Current Pay Annualized Preferred Return Percentage	15.00%
Accrued Annualized Preferred Return Percentage	0.00%
Annualized Preferred Return, Total Percentage	15.00%

Investments in Unconsolidated41

Investments in Unconsolidated Real Estate Joint Ventures (Details 2) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	$ 2,366	$ 412	$ 4,391	$ 492
Villas at Oak Crest [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	278	100	489	214
Alexan CityCentre [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	246	181	730	181
Alexan Southside Place [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	655	0	1,341	0
EOS [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	137	93	407	93
Whetstone [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	462	0	669	0
Cheshire Bridge [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	591	0	787	0
The Estates at Perimeter/Augusta [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	0	38	(1)	4
Other [Member]
Schedule of Equity Method Investments [Line Items]
Income (Loss) From Equity Method Investments	$ (3)	$ 0	$ (31)	$ 0

Investments in Unconsolidated42

Investments in Unconsolidated Real Estate Joint Ventures (Details 3) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014	Dec. 31, 2014
Balance Sheets:
Real estate, net of depreciation	$ 119,649		$ 119,649		$ 55,091
Real estate, net of depreciation, held for sale	0		0		31,334
Other assets	22,254		22,254		1,193
Other assets, held for sale	0		0		2,458
Total assets	141,903		141,903		90,076
Mortgages payable	61,998		61,998		19,820
Mortgage payable, held for sale	0		0		23,569
Other liabilities	3,680		3,680		2,812
Other liabilities, held for sale	0		0		1,026
Total liabilities	65,678		65,678		47,227
Members' equity	76,225		76,225		42,849
Total liabilities and members' equity	141,903		141,903		$ 90,076
Operating Statement:
Rental revenues	561	$ 694	1,885	$ 1,992
Operating expenses	(695)	(264)	(2,166)	(786)
Income before debt service, acquisition costs, and depreciation and amortization	(134)	430	(281)	1,206
Interest expense, net	(167)	(189)	(544)	(562)
Acquisition costs	0	0	(66)	0
Depreciation and amortization	(721)	(204)	(1,304)	(605)
Operating (loss)	(1,022)	37	(2,195)	39
Gain on sale	0	0	29,200	0
Net (loss) income	$ (1,022)	$ 37	$ 27,005	$ 39

Investments in Unconsolidated43

Investments in Unconsolidated Real Estate Joint Ventures (Details Textual) - USD ($) $ in Millions	Apr. 07, 2015	May. 20, 2015	Sep. 30, 2015
Equity Method Investment And Joint Venture [Line Items]
Ground Lease Term			85 years
Debt Instrument, Description of Variable Rate Basis	base rate plus 1.25% or LIBOR plus 2.25%.	LIBOR plus 2.0%.
BRG Southside, LLC [Member]
Equity Method Investment And Joint Venture [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value			$ 17.3
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			100.00%
BRG Whetstone Durham LLC [Member]
Equity Method Investment And Joint Venture [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value			$ 12.2
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			100.00%
Bridge Loan			$ 25.2
BRG Cheshire LLC [Member]
Equity Method Investment And Joint Venture [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value			$ 15.6
Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage			100.00%
Bank of America [Member]
Equity Method Investment And Joint Venture [Line Items]
Debt Instrument, Face Amount	$ 31.8
Debt Instrument, Maturity Date, Description	April 7, 2019

Mortgages Payable (Details)

Mortgages Payable (Details) - USD ($) $ in Thousands		9 Months Ended
		Sep. 30, 2015	Dec. 31, 2014
Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 299,558	$ 200,469
Fair value adjustments		1,710	874
Total continuing operations		301,268	201,343
Total		312,768	212,843
Spring House [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 22,264	22,515
Interest Rate		5.66%
Fixed/Floating		Fixed
Maturity Date		Jan. 1, 2020
Enders Place at Baldwin Park [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal	[1]	$ 25,250	25,475
Interest Rate	[1]	4.30%
Fixed/Floating	[1]	Fixed
Maturity Date	[1]	Nov. 1, 2022
MDA Apartments [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 37,600	37,600
Interest Rate		5.35%
Fixed/Floating		Fixed
Maturity Date		Jan. 1, 2023
Village Green Ann Arbor [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 42,518	43,078
Interest Rate		3.92%
Fixed/Floating		Fixed
Maturity Date		Oct. 1, 2022
Lansbrook Village [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 43,628	42,357
Interest Rate		4.40%
Fixed/Floating	[2]	Blended
Maturity Date		Mar. 31, 2018
ARIUM Grandewood [Member]
Line of Credit Facility [Line Items]
Interest Rate		1.87%
ARIUM Grandewood [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 29,444	29,444
Interest Rate		1.87%
Fixed/Floating	[3]	Floating
Maturity Date		Dec. 1, 2024
North Park Towers [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 11,500	11,500
Interest Rate		5.65%
Fixed/Floating		Fixed
Maturity Date		Jan. 6, 2024
Fox Hills [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 26,705	0
Interest Rate		3.57%
Fixed/Floating		Fixed
Maturity Date		Apr. 1, 2022
Park Kingston [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 15,250	0
Interest Rate		3.21%
Fixed/Floating		Fixed
Maturity Date		Apr. 1, 2020
ARIUM Palms [Member]
Line of Credit Facility [Line Items]
Interest Rate		2.42%
ARIUM Palms [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 24,999	0
Interest Rate		2.42%
Fixed/Floating	[4]	Floating
Maturity Date		Sep. 1, 2022
Ashton I [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Total Outstanding Principal		$ 31,900	$ 0
Interest Rate		4.67%
Fixed/Floating		Fixed
Maturity Date		Dec. 1, 2025
[1]	The principal includes a $17.3 million loan at a 3.97% interest rate and an $8.0 million supplemental loan at a 5.01% interest rate.
[2]	The principal balance includes the initial advance of $42.0 million at a fixed rate of 4.45% and an additional advance of $1.6 million that bears interest at a floating rate of three month LIBOR plus 3.00%, as of September 30, 2015, the additional advance had an interest rate of 3.31%.
[3]	ARIUM Grandewood Senior Loan bears interest at a floating rate of 1.67% plus one month LIBOR. At September 30, 2015, the interest rate was 1.87%.
[4]	ARIUM Palms loan bears interest at a floating rate of 2.22% plus one month LIBOR. At September 30, 2015, the interest rate was 2.42%.

Mortgages Payable (Details 1)

Mortgages Payable (Details 1) $ in Thousands	Sep. 30, 2015USD ($)
Debt Disclosure [Abstract]
2015 (October 1-December 31)	$ 375
2,016	2,762
2,017	3,532
2,018	45,364
2,019	3,888
Thereafter	255,137
Long-term Debt	311,058
Add: Unamortized fair value debt adjustment	1,710
Total	$ 312,768

Mortgages Payable (Details Text

Mortgages Payable (Details Textual) - USD ($)	Apr. 07, 2015	Aug. 20, 2015	Aug. 19, 2015	May. 20, 2015	Mar. 16, 2015	Sep. 30, 2015	Mar. 26, 2015	Dec. 31, 2014	Mar. 21, 2014
Line of Credit Facility [Line Items]
Debt Instrument, Description of Variable Rate Basis	base rate plus 1.25% or LIBOR plus 2.25%.			LIBOR plus 2.0%.
Real Estate Investments, Net, Total						$ 429,706,000		$ 288,411,000
Enders [Member] | Loans Payable [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount						$ 17,300,000
Debt Instrument, Interest Rate, Stated Percentage						3.97%
Enders [Member] | Supplemental Loan [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Face Amount						$ 8,000,000
Debt Instrument, Interest Rate, Stated Percentage						5.01%
Lansbrook [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent						$ 1,600,000			$ 48,000,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate						4.45%
Debt Instrument, Fee Amount									240,000
Lansbrook [Member] | Initial Advance [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent									42,000,000
Lansbrook [Member] | Additional borrowing [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent						$ 6,000,000			$ 6,000,000
Lansbrook [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						4.40%
ARIUM Grandewood [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						1.87%
Debt Instrument, Interest Rate During Period						1.67%
ARIUM Grandewood [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						1.87%
Park Kingston [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent					$ 15,250,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate					3.21%
Percentage Of Unpaid Outstanding Principal Balance					1.00%
Park Kingston [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						3.21%
Fox Hills [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent							$ 26,700,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate							3.57%
Percentage Of Unpaid Outstanding Principal Balance					1.00%
Long-term Debt, Description						During the first 60 months of the term, the loan may be prepaid at any time with at least 30 business days prior notice and the payment of a prepayment premium equal to the greater of (i) 1% of the principal balance and (ii) a yield maintenance amount calculated as set forth in the loan agreement. After the first 60 months of the term through the fourth month prior to the end of the term, the loan may be prepaid at any time with at least 30 business days prior notice and the payment of a prepayment premium equal to 1% of the principal balance, and thereafter, the loan may be prepaid at any time at par. The loan is nonrecourse to the Company and the Fox Hill Borrower with recourse carve-outs for certain deeds, acts or failures to act on the part of the Company and the Fox Hill Borrower, or any of its officers, members, managers or employees.
Fox Hills [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						3.57%
ARIUM Palms [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						2.42%
Secured Long-term Debt, Noncurrent		$ 25,000,000
Debt Instrument, Description of Variable Rate Basis						loan bears interest at a floating rate of 2.22% plus one month LIBOR
Percentage Of Unpaid Outstanding Principal Balance		1.00%
Interest Cap Rate of Description		The ARIUM Palms Borroweralso entered into a three-year interest rate cap agreement with a cap rate of 5.75
ARIUM Palms [Member] | Mortgages [Member]
Line of Credit Facility [Line Items]
Debt Instrument, Interest Rate, Stated Percentage						2.42%
Debt Instrument, Description of Variable Rate Basis		interest on a floating basis based on LIBOR plus 2.22%
Ashton I Charlotte, NC [Member]
Line of Credit Facility [Line Items]
Secured Long-term Debt, Noncurrent			$ 31,900,000
Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate			4.67%
Percentage Of Unpaid Outstanding Principal Balance			1.00%

Line of Credit (Details Textual

Line of Credit (Details Textual) $ in Millions	Jan. 02, 2014USD ($)
Line of Credit Facility [Line Items]
Line Of Credit, Current	$ 7.6

Fair Value of Financial Instr48

Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Millions	Sep. 30, 2015	Dec. 31, 2014
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage Payable At Carrying Value	$ 312.8	$ 212.8
Mortgage Payable At Fair Value	$ 319.1	$ 215.8

Related Party Transactions (Det

Related Party Transactions (Details) - USD ($) $ in Thousands	Sep. 30, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Total related-party amounts payable	$ 1,039	$ 1,643
Formar Advisor [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	0	1,180
Manager [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	1,039	463
Asset Management and Oversight Fees [Member] | Formar Advisor [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	0	404
Acquisition Fees and Disposition Fees [Member] | Formar Advisor [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	0	740
Financing Fees [Member] | Formar Advisor [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	0	36
Base Management Fee [Member] | Manager [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	896	310
Incentive fee [Member] | Manager [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	0	146
Others [Member] | Manager [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	$ 143	$ 7

Related Party Transactions (D50

Related Party Transactions (Details Textual) - USD ($)	Sep. 14, 2015	Aug. 13, 2015	Jul. 02, 2015	May. 14, 2015	Apr. 30, 2015	Feb. 18, 2015	Oct. 21, 2013	Sep. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Sep. 30, 2015	Dec. 31, 2014	Dec. 31, 2013	May. 31, 2015	Mar. 26, 2015	Mar. 16, 2015	Jan. 02, 2014
Related Party Transaction [Line Items]
Line of credit outstanding																	$ 7,600,000
Sales Price Percentage							1.50%
Selling Commission Percentage							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%
Oversight Fee Percentage											1.00%
Related Party Transaction Acquisition Fee Percentage													2.50%
Base Management Fee Expense								$ 900,000			$ 2,100,000
Preferred Stock, Shares Issued								0		0	0	0
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)								$ 0.01		$ 0.01	$ 0.01	$ 0.01
Preferred Stock, Dividend Rate, Percentage											8.00%
Due From Affiliates Excluding Former Advisor								$ 900,000		$ 600,000	$ 900,000	$ 600,000
Compensation Percent Of Stockholders Equity								0.25%			0.25%
Management Agreement, Agreement Termination Minimum Stockholders Equity								$ 250,000,000			$ 250,000,000
Compensation Incentive Fee Product Percentage								20.00%			20.00%
Compensation Incentive Fee Base Percentage								8.00%			8.00%
Due to Affiliates Excluding Manager and Former Advisor								$ 600,000		300,000	$ 600,000	300,000
Incentive Fee Expense										700,000		150,000
Management Fee Expense								$ 100,000			$ 700,000
Long Term Incentive Plan Units Issued				67,837		10,896
Share Price								$ 11.98			$ 11.98
Long Term Incentive Plan Units Vested					59,854
Due to Related Parties								$ 1,039,000		1,643,000	$ 1,039,000	1,643,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross			283,390
Stock Issued During Period, Value, Share-based Compensation, Net of Forfeitures, Total								100,000
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Due to Related Parties								1,180,000			1,180,000
Allocated Share-based Compensation Expense								$ 500,000			$ 500,000
Long-term Incentive Plan Units [Member]
Related Party Transaction [Line Items]
Management Fee Expense												$ 1,000,000
Common Stock Closing Share Price												$ 12.43
Long Term Incentive Plan Units Granted												179,562
Share Price								$ 11.98			$ 11.98
Stock Issued During Period, Shares, Share-based Compensation, Gross								74,780			59,077
Partners' Capital Account, Units, Sale of Units, Total	108,119										108,119
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross		59,077
October 2014 Follow-On Offering [Member]
Related Party Transaction [Line Items]
Related Party Transaction, Expenses from Transactions with Related Party												$ 200,000
Costs and Expenses, Related Party												25,000
Manager [Member]
Related Party Transaction [Line Items]
Incentive Fee Expense									$ 900,000
Due to Related Parties								$ 1,039,000		$ 463,000	$ 1,039,000	$ 463,000
Villas at Oak Crest [Member]
Related Party Transaction [Line Items]
Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value											300,000
Park Kingston Phase I Units [Member]
Related Party Transaction [Line Items]
Business Acquisition Indirect Ownership, Amount														$ 6,500,000		$ 6,300,000
Fox Hill [Member]
Related Party Transaction [Line Items]
Business Acquisition Indirect Ownership, Amount														$ 1,100,000	$ 10,200,000
North Park Towers [Member]
Related Party Transaction [Line Items]
Management Fee Expense								$ 50,000			$ 140,000
Advisory Agreement [Member]
Related Party Transaction [Line Items]
Sales Price Percentage							1.50%
Preferred Stock, Shares Issued								1,000			1,000
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)								$ 0.01			$ 0.01
Fund II [Member]
Related Party Transaction [Line Items]
Repayments of Related Party Debt											$ 300,000
Common Class A [Member]
Related Party Transaction [Line Items]
Compensation Percent Of Stockholders Equity								1.50%			1.50%
Minimum [Member]
Related Party Transaction [Line Items]
Percentage Of Financing Fees Receivable							0.25%
Maximum [Member]
Related Party Transaction [Line Items]
Percentage Of Financing Fees Receivable							1.00%
Maximum [Member] | Fox Hill [Member]
Related Party Transaction [Line Items]
Business Acquisition Indirect Ownership, Amount															$ 38,150,000

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended		9 Months Ended
		Sep. 30, 2015	Sep. 30, 2014	Sep. 30, 2015	Sep. 30, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Net (loss) income from continuing operations attributable to common stockholders		$ (574)	$ (2,261)	$ 2,157	$ (7,853)
Dividends on restricted stock expected to vest		(4)	(1)	(12)	(6)
Basic net (loss) income from continuing operations attributable to common stockholders		(578)	(2,262)	2,145	(7,859)
Basic net (loss) income from discontinued operations attributable to common stockholders		$ 0	$ 114	$ 0	$ 123
Weighted average common shares outstanding (in shares)	[1],[2]	20,166,384	5,877,417	16,383,736	4,269,378
Potential dilutive shares (in shares)	[3]	0	0	12,302	0
Weighted average common shares outstanding and potential dilutive shares (in shares)	[1]	20,166,384	5,877,417	16,396,038	4,269,378
(Loss) income per common share, basic
Continuing operations (in dollars per share)	[2]	$ (0.03)	$ (0.38)	$ 0.13	$ (1.84)
Discontinued operations (in dollars per share)	[2]	0	0.02	0	0.03
Income (loss) per common share, basic (in dollars per share)	[2]	(0.03)	(0.36)	0.13	(1.81)
(Loss) income per common share, diluted
Continuing operations (in dollars per share)	[2]	(0.03)	(0.38)	0.13	(1.84)
Discontinued operations (in dollars per share)	[2]	0	0.02	0	0.03
Income (loss) per common share, diluted (in dollars per share)	[2]	$ (0.03)	$ (0.36)	$ 0.13	$ (1.81)
[1]	For 2015, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding. For 2014, amounts relate to shares of Class A, B-1, B-2 and B-3 common stock, common shares and LTIP Units outstanding.
[2]	Share and per share amounts have been restated to reflect the effects of two reverse stock splits of the Company’s Class B common stock, which occurred during the first quarter of 2014. See Note 1, "Organization and Nature of Business" and Note 11, "Stockholders' Equity" for further discussion.
[3]	Excludes 15,272 shares of common stock, for the three months ended September 30, 2015 and 4,794 and 5,726 shares of common stock, for the three and nine months ended September 30, 2014, related to non-vested restricted stock, as the effect would be anti-dilutive.

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1)	9 Months Ended
	Sep. 30, 2015$ / sharesshares	[1]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non Vested shares, Balance (in shares)	3,956
Non Vested shares, Granted (in shares)	15,000
Non Vested shares, Vested (in shares)	(4,480)
Non Vested shares, Forfeited (in shares)	0
Non Vested shares, Balance (in shares)	14,476
Weighted average grant-date fair value, Balance (in dollars) | $ / shares	$ 90
Weighted average grant-date fair value, Granted (in dollars) | $ / shares	197
Weighted average grant-date fair value, Vested (in dollars) | $ / shares	(78)
Weighted average grant-date fair value, Forfeited (in dollars) | $ / shares	0
Weighted average grant-date fair value, Balance (in dollars) | $ / shares	$ 209
[1]	The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed above.

Stockholders' Equity (Details 2

Stockholders' Equity (Details 2) - shares	Sep. 14, 2015	Aug. 13, 2015	Jul. 02, 2015	May. 14, 2015	Feb. 18, 2015	Sep. 30, 2015
Balance at January 1, 2015						325,578
Long Term Incentive Plan Units Issued				67,837	10,896
Equity Incentive Plan Manager Incentive Grant			283,390
Balance at September 30, 2015						854,897
Long-term Incentive Plan Units [Member]
Equity Incentive Plan Manager Incentive Grant		59,077
Partners' Capital Account, Units, Sale of Units, Total	108,119					108,119

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - USD ($) $ in Thousands	3 Months Ended			9 Months Ended
	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Sep. 30, 2015
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	$ 5,974	$ 5,250	$ 4,006	$ 15,230
Distributions Paid	5,931	4,628	3,560	$ 14,119
Common Class A [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	5,500	4,852	3,554
Distributions Paid	5,465	4,236	3,073
Common Class B-1 [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared			68
Distributions Paid			103
Common Class B-2 [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	68	103	103
Distributions Paid	103	103	103
Common Class B-3 [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	103	103	103
Distributions Paid	103	103	103
Operating Partnership Units [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	82	82	82
Distributions Paid	82	82	82
Long-term Incentive Plan Units [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	221	110	96
Distributions Paid	$ 178	$ 104	$ 96

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($) $ / shares in Units, $ in Thousands

Jul. 10, 2015

Apr. 10, 2015

Jan. 09, 2015

Oct. 10, 2014

Oct. 08, 2014

Sep. 09, 2013

Aug. 05, 2013

Sep. 19, 2015

May. 22, 2015

Mar. 24, 2015

Mar. 23, 2015

Jan. 20, 2015

Sep. 30, 2015

Sep. 30, 2014

Sep. 30, 2015

Sep. 30, 2014

Dec. 31, 2014

May. 28, 2015

Apr. 02, 2014

Class of Stock [Line Items]

Share- Based Compensation Restricted Stock Issued To Directors (in shares)

2,500

5,000

Restricted Stock Vested Percentage One

20.00%

Restricted Stock Vested Percentage Two

20.00%

Unrecognized Stock Based Compensation

$ 170

Proceeds From Issuance Of Common Stock

$ 32,900

$ 22,600

$ 131,313

$ 43,977

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

[1]

15,000

Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition

2 years 4 months 24 days

General Partners' Capital Account, Units Outstanding

0.01

Limited Partners' Capital Account, Units Outstanding

854,897

854,897

325,578

333

Share Price

$ 11.98

$ 11.98

General and Administrative Expense [Member]

Class of Stock [Line Items]

Allocated Share-based Compensation Expense

$ 500

$ 500

Bluerock Residential Growth REIT, Inc [Member]

Class of Stock [Line Items]

Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest

100.00%

OP And LTIP Unit holders [Member]

Class of Stock [Line Items]

Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest

5.50%

9.87%

OP Unit holders [Member]

Class of Stock [Line Items]

Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest

1.40%

4.59%

LTIP Unit holders [Member]

Class of Stock [Line Items]

Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest

4.10%

5.28%

Common Class A One [Member]

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.29

$ 0.29

$ 0.29

$ 0.29

Dividends Payable, Date of Record

Jul. 25, 2015

Apr. 25, 2015

Jan. 25, 2015

Oct. 25, 2014

Sep. 25, 2015

Dividends Payable, Date to be Paid

Aug. 5, 2015

May 5, 2015

Feb. 5, 2015

Nov. 5, 2014

Oct. 5, 2015

Common Class A One [Member] | Monthly Dividends [Member]

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.096667

$ 0.096666

$ 0.096666

$ 0.096666

$ 0.096666

Dividends Payable, Date of Record

Jul. 25, 2015

Apr. 25, 2015

Jan. 25, 2015

Oct. 25, 2014

Oct. 25, 2015

Common Class A Two [Member]

Class of Stock [Line Items]

Dividends Payable, Date of Record

Aug. 25, 2015

May 25, 2015

Feb. 25, 2015

Nov. 25, 2014

Oct. 25, 2015

Dividends Payable, Date to be Paid

Sep. 4, 2015

Jun. 5, 2015

Mar. 5, 2015

Dec. 5, 2014

Nov. 5, 2015

Common Class A Two [Member] | Monthly Dividends [Member]

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.096667

Dividends Payable, Date of Record

Aug. 25, 2015

May 25, 2015

Feb. 25, 2015

Nov. 25, 2014

Nov. 25, 2015

Common Class B One [Member]

Class of Stock [Line Items]

Dividends Payable, Date of Record

Sep. 25, 2015

Jun. 25, 2015

Mar. 25, 2015

Dec. 25, 2014

Dividends Payable, Date to be Paid

Oct. 5, 2015

Jul. 2, 2015

Apr. 5, 2015

Jan. 5, 2015

Conversion of Stock, Shares Converted

353,630

Common Class B One [Member] | Monthly Dividends [Member]

Class of Stock [Line Items]

Common Stock, Dividends, Per Share, Declared

$ 0.096666

$ 0.096667

$ 0.096667

$ 0.096667

$ 0.096667

Dividends Payable, Date of Record

Sep. 25, 2015

Jun. 25, 2015

Mar. 25, 2015

Dec. 25, 2014

Dec. 25, 2015

Common Class B Two [Member]

Class of Stock [Line Items]

Conversion of Stock, Shares Converted

353,630

Common Class A [Member]

Class of Stock [Line Items]

Proceeds From Issuance Of Common Stock

$ 77,600

$ 53,700

Stockholders' Equity, Reverse Stock Split

Immediately following the filing of the Second Charter Amendment, we effectuated a 2.264881 to 1 reverse stock split of our outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock, and on March 31, 2014, we effected an additional 1.0045878 to 1 reverse stock split of our outstanding shares of Class B-1 common stock, Class B-2 common stock and Class B-3 common stock.

Stock Issued During Period, Shares, New Issues

3,035,444

6,348,000

4,600,000

Common Stock, Par or Stated Value Per Share

$ 0.01

$ 0.01

$ 0.01

$ 0.01

$ 0.01

Sale of Stock, Price Per Share

$ 11.90

$ 13

$ 12.50

2014 Restricted Stock Award [Member] | Common Class A [Member]

Class of Stock [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

2,500

Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award

The vesting schedule for each 2014 Restricted Stock Award is as follows: (i) 834 shares as of March 24, 2015, (ii) 833 shares on March 24, 2016, and (iii) 833 shares on March 24, 2017.

2015 Restricted Stock Award [Member] | Common Class A [Member]

Class of Stock [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

2,500

Share-based Compensation Arrangement by Share-based Payment Award, Terms of Award

The vesting schedule for each 2015 Restricted Stock Award is as follows: (i) 834 shares as of March 24, 2016, (ii) 833 shares on March 24, 2017, and (iii) 833 shares on March 24, 2018.

2014 Individuals Plan [Member] | Common Class A [Member]

Class of Stock [Line Items]

Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period

2,500

Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized

475,000

Common Stock [Member]

Class of Stock [Line Items]

Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount

15,272

4,794

5,726

[1]

The number of shares and per share amounts for the prior period have been retroactively restated to reflect the two reverse stock splits of the Class B common stock discussed above.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jul. 10, 2015	Apr. 10, 2015	Jan. 09, 2015	Oct. 10, 2014	Sep. 30, 2015
Subsequent Event [Line Items]
Dividends, Total Distribution					$ 4,000
Class A Common Stock One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Jul. 10, 2015
Dividends, Record Date	Jul. 25, 2015	Apr. 25, 2015	Jan. 25, 2015	Oct. 25, 2014	Sep. 25, 2015
Dividends, Date paid	Aug. 5, 2015	May 5, 2015	Feb. 5, 2015	Nov. 5, 2014	Oct. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 1,856
Class B-3 Common Stock One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Jul. 10, 2015
Dividends, Record Date					Sep. 25, 2015
Dividends, Date paid					Oct. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 34
Operating Partnership Units One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Jul. 10, 2015
Dividends, Record Date					Sep. 25, 2015
Dividends, Date paid					Oct. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 27
Long-term Incentive Plan Units One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Jul. 10, 2015
Dividends, Record Date					Sep. 25, 2015
Dividends, Date paid					Oct. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 83
Class A Common Stock Two [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Oct. 7, 2015
Dividends, Record Date	Aug. 25, 2015	May 25, 2015	Feb. 25, 2015	Nov. 25, 2014	Oct. 25, 2015
Dividends, Date paid	Sep. 4, 2015	Jun. 5, 2015	Mar. 5, 2015	Dec. 5, 2014	Nov. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 1,856
Class B-3 Common Stock Two [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Oct. 7, 2015
Dividends, Record Date					Oct. 25, 2015
Dividends, Date paid					Nov. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 34
Operating Partnership Units Two [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Oct. 7, 2015
Dividends, Record Date					Oct. 25, 2015
Dividends, Date paid					Nov. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 27
Long-term Incentive Plan Units Two [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date					Oct. 7, 2015
Dividends, Record Date					Oct. 25, 2015
Dividends, Date paid					Nov. 5, 2015
Dividends, Distributions per Share (in dollars per share)					$ 0.096666
Dividends, Total Distribution					$ 83

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($) $ / shares in Units, $ in Thousands	Oct. 07, 2015	Jul. 10, 2015	Apr. 10, 2015	Jan. 09, 2015	Oct. 10, 2014	Oct. 31, 2015	Oct. 21, 2015	Oct. 16, 2015	Sep. 30, 2015	Oct. 29, 2015
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues									$ 131,313
Preferred Stock, Dividend Rate, Percentage									8.00%
Debt Instrument, Basis Spread on Variable Rate									2.29%
Sovereign Property [Member]
Subsequent Event [Line Items]
Debt Instrument, Interest Rate, Stated Percentage									3.46%
Common Class A One [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Jul. 25, 2015	Apr. 25, 2015	Jan. 25, 2015	Oct. 25, 2014				Sep. 25, 2015
Common Stock, Dividends, Per Share, Declared		$ 0.29	$ 0.29	$ 0.29	$ 0.29
Dividends Payable, Date to be Paid		Aug. 5, 2015	May 5, 2015	Feb. 5, 2015	Nov. 5, 2014				Oct. 5, 2015
Common Class A Two [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Aug. 25, 2015	May 25, 2015	Feb. 25, 2015	Nov. 25, 2014				Oct. 25, 2015
Dividends Payable, Date to be Paid		Sep. 4, 2015	Jun. 5, 2015	Mar. 5, 2015	Dec. 5, 2014				Nov. 5, 2015
Common Class B One [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Sep. 25, 2015	Jun. 25, 2015	Mar. 25, 2015	Dec. 25, 2014
Dividends Payable, Date to be Paid		Oct. 5, 2015	Jul. 2, 2015	Apr. 5, 2015	Jan. 5, 2015
Series A Cumulative Redeemable Preferred Stock
Subsequent Event [Line Items]
Preferred Stock, Dividend Rate, Percentage							8.25%
Monthly Dividends [Member] | Common Class A One [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Jul. 25, 2015	Apr. 25, 2015	Jan. 25, 2015	Oct. 25, 2014				Oct. 25, 2015
Common Stock, Dividends, Per Share, Declared		$ 0.096667	$ 0.096666	$ 0.096666	$ 0.096666				$ 0.096666
Monthly Dividends [Member] | Common Class A Two [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Aug. 25, 2015	May 25, 2015	Feb. 25, 2015	Nov. 25, 2014				Nov. 25, 2015
Common Stock, Dividends, Per Share, Declared									$ 0.096667
Monthly Dividends [Member] | Common Class B One [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record		Sep. 25, 2015	Jun. 25, 2015	Mar. 25, 2015	Dec. 25, 2014				Dec. 25, 2015
Common Stock, Dividends, Per Share, Declared		$ 0.096666	$ 0.096667	$ 0.096667	$ 0.096667				$ 0.096667
Subsequent Event [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage										95.00%
Subsequent Event [Member] | Public Offering [Member]
Subsequent Event [Line Items]
Stock Issued During Period, Value, New Issues						$ 69,200
Shares Issued, Price Per Share						$ 25
Subsequent Event [Member] | North Park Towers [Member]
Subsequent Event [Line Items]
Equity Method Investment, Ownership Percentage								100.00%
Proceeds from Sale of Property Held-for-sale								$ 6,600
Mortgage Notes Payable Gross								11,500
Sale of Owned Property								$ 18,200
Subsequent Event [Member] | Phillip Creek Property [Member]
Subsequent Event [Line Items]
Maximum Purchase Price In Purchase Agreement										$ 55,300
Long-term Investments, Total										17,700
Subsequent Event [Member] | Phillip Creek Property [Member] | Senior Mortgage Loan [Member]
Subsequent Event [Line Items]
Mortgage Notes Payable Gross										38,700
Subsequent Event [Member] | Sovereign Property [Member]
Subsequent Event [Line Items]
Maximum Purchase Price In Purchase Agreement										44,400
Long-term Investments, Total										15,200
Subsequent Event [Member] | Sovereign Property [Member] | Senior Mortgage Loan [Member]
Subsequent Event [Line Items]
Mortgage Notes Payable Gross										$ 28,900
Subsequent Event [Member] | Series A Cumulative Redeemable Preferred Stock
Subsequent Event [Line Items]
Stock Issued During Period, Shares, New Issues							2,875,000
Preferred Stock, Liquidation Preference Per Share							$ 25
Shares Issued, Price Per Share							$ 0.01
Subsequent Event [Member] | Monthly Dividends [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record	Dec. 25, 2015
Dividends Payable, Date to be Paid	Jan. 5, 2016
Subsequent Event [Member] | Monthly Dividends [Member] | Common Class A One [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record	Oct. 25, 2015
Common Stock, Dividends, Per Share, Declared	$ 0.29
Dividends Payable, Date to be Paid	Nov. 5, 2015
Subsequent Event [Member] | Monthly Dividends [Member] | Common Class A Two [Member]
Subsequent Event [Line Items]
Dividends Payable, Date of Record	Nov. 25, 2015
Dividends Payable, Date to be Paid	Dec. 5, 2015
Subsequent Event [Member] | Monthly Dividends [Member] | Common Class B One [Member]
Subsequent Event [Line Items]
Common Stock, Dividends, Per Share, Declared	$ 0.29