Bluerock Residential Growth REIT (BRG) 10-K 22 Feb 17 2016 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2016	Feb. 06, 2017	Jun. 30, 2016
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	FY
Entity Registrant Name	Bluerock Residential Growth REIT, Inc.
Entity Central Index Key	1,442,626
Current Fiscal Year End Date	--12-31
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Filer Category	Accelerated Filer
Entity Public Float			$ 252,594,776
Trading Symbol	BRG
Entity Common Stock, Shares Outstanding		24,168,169

CONSOLIDATED BALANCE SHEETS

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Net Real Estate Investments
Land	$ 142,274	$ 65,057
Buildings and improvements	848,445	474,608
Furniture, fixtures and equipment	27,617	17,155
Construction in progress	10,878	0
Total Gross Real Estate Investments	1,029,214	556,820
Accumulated depreciation	(42,137)	(23,437)
Total Net Real Estate Investments	987,077	533,383
Cash and cash equivalents	82,047	68,960
Restricted cash	45,402	11,669
Notes and accrued interest receivable from related parties	21,267	0
Due from affiliates	948	861
Accounts receivable, prepaid and other assets	8,610	6,742
Preferred equity investments and investments in unconsolidated real estate joint ventures	91,132	75,223
In-place lease intangible assets, net	4,839	2,389
Total Assets	1,241,322	699,227
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Mortgages payable	710,575	380,102
Accounts payable	1,669	587
Other accrued liabilities	13,431	7,013
Due to affiliates	2,409	1,485
Distributions payable	7,328	3,163
Total Liabilities	735,412	392,350
Stockholders' Equity
Additional paid-in-capital	257,403	248,484
Distributions in excess of cumulative earnings	(84,631)	(41,496)
Total Stockholders' Equity	241,728	207,184
Noncontrolling Interests
Operating partnership units	2,216	2,908
Partially owned properties	48,617	27,620
Total Noncontrolling Interests	50,833	30,528
Total Equity	292,561	237,712
TOTAL LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY	1,241,322	699,227
Preferred Stock [Member]
Stockholders' Equity
Preferred Stock Value	0	0
Common Class A [Member]
Stockholders' Equity
Common Stock Value	196	192
Noncontrolling Interests
Total Equity	196	192
Redeemable Preferred Stock [Member] | Series B [Member]
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Redeemable Preferred Stock	18,938	0
Cumulative Preferred Stock [Member] | Series A [Member]
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Redeemable Preferred Stock	138,316	69,165
Cumulative Preferred Stock [Member] | Series C [Member]
LIABILITIES, REDEEMABLE PREFERRED STOCK AND EQUITY
Redeemable Preferred Stock	56,095	0
Cumulative Preferred Stock [Member] | Series D [Member]
Stockholders' Equity
Preferred Stock Value	68,760	0
Common Class B-3 One [Member]
Stockholders' Equity
Common Stock Value	$ 0	$ 4

CONSOLIDATED BALANCE SHEETS _Pa

CONSOLIDATED BALANCE SHEETS [Parenthetical] - $ / shares	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred Stock, Shares Authorized	230,975,000	246,975,000
Preferred Stock, Shares Issued	0	0
Preferred Stock, Shares 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	19,567,506	19,202,112
Common stock, shares outstanding	19,567,506	19,202,112
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	0	353,629
Common stock, shares outstanding	0	353,629
Cumulative Preferred Stock [Member] | Series A [Member]
Preferred Stock, Dividend Rate, Percentage	8.25%
Temporary Equity, Liquidation Preference Per Share	$ 25	$ 25
Temporary Equity, Shares Authorized	10,875,000	2,875,000
Temporary Equity, Shares Issued	5,721,460	2,875,000
Temporary Equity, Shares Outstanding	5,721,460	2,875,000
Cumulative Preferred Stock [Member] | Series C [Member]
Preferred Stock, Dividend Rate, Percentage	7.625%
Temporary Equity, Liquidation Preference Per Share	$ 25	$ 25
Temporary Equity, Shares Authorized	4,000,000	0
Temporary Equity, Shares Issued	2,323,750	0
Temporary Equity, Shares Outstanding	2,323,750	0
Cumulative Preferred Stock [Member] | Series D [Member]
Preferred Stock, Liquidation Preference Per Share (in dollars per share)	$ 25	$ 25
Preferred Stock, Shares Authorized	4,000,000	0
Preferred Stock, Shares Issued	2,850,602	0
Preferred Stock, Shares Outstanding	2,850,602	0
Preferred Stock, Dividend Rate, Percentage	7.125%
Cumulative Redeemable Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	8.25%
Cumulative Redeemable Preferred Stock [Member] | Series B [Member]
Temporary Equity, Liquidation Preference Per Share	$ 1,000	$ 1,000
Temporary Equity, Shares Authorized	150,000	150,000
Temporary Equity, Shares Issued	21,482	0
Temporary Equity, Shares Outstanding	21,482	0

CONSOLIDATED STATEMENTS OF OPER

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Revenues
Net rental income		$ 73,366	$ 42,259	$ 29,198
Other property revenues		3,668	1,996	1,165
Interest income from related parties		17	0	0
Total revenues		77,051	44,255	30,363
Expenses
Property operating		29,870	17,851	13,213
General and administrative		5,863	4,108	2,694
Management fees		6,510	4,185	1,004
Acquisition costs		4,590	3,508	4,378
Management internalization		63	0	0
Depreciation and amortization		31,187	16,226	12,639
Total expenses		78,083	45,878	33,928
Operating loss		(1,032)	(1,623)	(3,565)
Other (Expense) Income
Other income		26	62	185
Preferred returns and equity in income of unconsolidated real estate joint ventures		11,632	6,590	1,066
Equity in gain on sale of unconsolidated real estate joint venture interests		0	11,303	4,067
Gain on sale of real estate investments		4,947	2,677	0
Gain on revaluation of equity of business combination		3,761	0	0
Loss on early extinguishment of debt		(2,393)	0	0
Interest expense, net		(19,915)	(11,366)	(8,427)
Total other (expense) income		(1,942)	9,266	(3,109)
Net (loss) income from continuing operations		(2,974)	7,643	(6,674)
Discontinued operations
Loss on operations of rental property		0	0	(10)
Loss on early extinguishment of debt		0	0	(880)
Gain on sale of assets from discontinued operations		0	0	1,006
Income from discontinued operations		0	0	116
Net (loss) income		(2,974)	7,643	(6,558)
Preferred stock dividends		(13,763)	(1,153)	0
Preferred stock accretion		(893)	0	0
Net (loss) income attributable to noncontrolling interests
Operating partnership units		(276)	35	(238)
Partially-owned properties		1,631	5,820	(1,148)
Net income (loss) attributable to noncontrolling interests		1,355	5,855	(1,386)
Net (loss) income attributable to common stockholders		$ (18,985)	$ 635	$ (5,172)
Basic Earnings Per Share
Continuing operations		$ (0.91)	$ 0.04	$ (0.98)
Discontinued operations		0	0	0.02
Earnings Per Share, Basic		(0.91)	0.04	(0.96)
Diluted Earnings Per Share
Continuing operations		(0.91)	0.04	(0.98)
Discontinued operations		0	0	0.02
Earnings Per Share, Diluted		$ (0.91)	$ 0.04	$ (0.96)
Weighted Average Number of Common Shares Outstanding - Basic:	[1]	20,805,852	17,404,348	5,381,787
Weighted Average Number of Common Shares Outstanding - Diluted:	[1]	20,805,852	17,417,198	5,381,787
[1]	For 2016, amounts relate to shares of the Company’s Class A and B-3 common stock and LTIP Units outstanding, 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, and B-3 common stock and LTIP Units outstanding.

CONSOLIDATED STATEMENTS OF STOC

CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Class A [Member]	Series A Preferred Stock [Member]	Series B Preferred Stock [Member]	Series C Preferred Stock [Member]	Series D Preferred Stock [Member]	Conversion of Class B-3 into Class A shares [Member]	Nonvoting Convertible Stock [Member]	Nonvoting Convertible Stock [Member]Series A Preferred Stock [Member]	Common Stock [Member]	Common Stock [Member]Series A Preferred Stock [Member]	Common Class B-1 [Member]	Common Class B-2 [Member]	Common Class B-3 [Member]	Additional Paid-in Capital [Member]	Additional Paid-in Capital [Member]Series A Preferred Stock [Member]	Additional Paid-in Capital [Member]Series B Preferred Stock [Member]	Additional Paid-in Capital [Member]Series C Preferred Stock [Member]	Additional Paid-in Capital [Member]Series D Preferred Stock [Member]	Cumulative Distributions [Member]	Cumulative Distributions [Member]Series A Preferred Stock [Member]	Cumulative Distributions [Member]Series B Preferred Stock [Member]	Cumulative Distributions [Member]Series C Preferred Stock [Member]	Cumulative Distributions [Member]Series D Preferred Stock [Member]	Net Income (Loss) to Common Stockholders [Member]	Net Income (Loss) to Common Stockholders [Member]Series A Preferred Stock [Member]	Net Income (Loss) to Common Stockholders [Member]Series B Preferred Stock [Member]	Net Income (Loss) to Common Stockholders [Member]Series C Preferred Stock [Member]	Net Income (Loss) to Common Stockholders [Member]Series D Preferred Stock [Member]	Non-controlling Interests [Member]	Non-controlling Interests [Member]Series A Preferred Stock [Member]	Non-controlling Interests [Member]Series B Preferred Stock [Member]	Non-controlling Interests [Member]Series C Preferred Stock [Member]	Non-controlling Interests [Member]Series D Preferred Stock [Member]
Balance at Dec. 31, 2013	$ 46,083	$ 0				$ 0		$ 0		$ 24		$ 0	$ 0	$ 0	$ 21,747					$ (3,659)					$ (6,111)					$ 34,082
Balance (in shares) at Dec. 31, 2013		0				0		1,000		2,413,811		0	0	0
Reverse stock split effect	0	$ 0				$ 0		$ 0		$ (24)		$ 4	$ 4	$ 4	12					0					0					0
Reverse stock split effect (in shares)		0				0		0		(2,413,811)		353,630	353,630	353,629
Issuance of Class A common stock, net	92,055	$ 75				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	91,980					0					0					0
Issuance of Class A common stock, net (in shares)		7,531,188				0		0		0		0	0	0
Vesting of restricted stock compensation	48	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	48					0					0					0
Issuance of Operating Partnership ("OP") units	4,100	0				0		0		0		0	0	0	666					0					0					3,434
Issuance of Long-Term Incentive Plan ("LTIP") units	2,117	0				0		0		0		0	0	0	2,117					0					0					0
Issuance of LTIP units for compensation	964	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	964					0					0					0
Issuance of LTIP units for compensation (in shares)		0				0		0		0		0	0	0
Issuance of convertible stock, net	0	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					0					0
Issuance of convertible stock, net (in share)		0				0		(1,000)		0		0	0	0
Contributions, net	5,066	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					0					5,066
Distributions declared	(6,517)	0				0		0		0		0	0	0	0					(6,271)					0					(246)
Distributions to noncontrolling interests	(5,774)	0				0		0		0		0	0	0	0					0					0					(5,774)
Changes in additional-paid in capital due to acquisitions	(4,023)	0				0		0		0		0	0	0	(4,023)					0					0					0
Deconsolidation of Grove at Waterford and 23Hundred@Berry Hill	(7,814)	0				0		0		0		0	0	0	0					0					0					(7,814)
Noncontrolling interest upon acquisition	6,264	0				0		0		0		0	0	0	0					0					0					6,264
Stock accretion	0
Net (loss) income	(6,558)	0				0		0		0		0	0	0	0					0					(5,172)					(1,386)
Balance at Dec. 31, 2014	126,011	$ 75				$ 0		$ 0		$ 0		$ 4	$ 4	$ 4	113,511					(9,930)					(11,283)					33,626
Balance (in shares) at Dec. 31, 2014		7,531,188				0		0		0		353,630	353,630	353,629
Issuance of Class A common stock, net	131,321	$ 109				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	131,212					0					0					0
Issuance of Class A common stock, net (in shares)		10,948,664				0		0		0		0	0	0
Vesting of restricted stock compensation	126	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	126					0					0					0
Issuance of LTIP units	3,859	$ 0				0		$ 0		$ 0		$ 0	$ 0	$ 0	3,859					0					0					0
Issuance of LTIP units (in shares)		0						0		0		0	0	0
Issuance of LTIP units for compensation	1,879	$ 0				0		$ 0		$ 0		$ 0	$ 0	$ 0	1,879					0					0					0
Issuance of LTIP units for compensation (in shares)		0						0		0		0	0	0
Contributions, net	3,321	$ 0				0		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					0					3,321
Disposition of noncontrolling interests	(9,839)	0				0		0		0		0	0	0	0					0					0					(9,839)
Distributions declared	(1,153)	$ 0				0		0	$ 0	0	$ 0	$ 0	$ 0	$ 0	0					(1,153)					0					(330)
Distributions declared (in shares)		0							0		0	0	0	0
Distributions to noncontrolling interests	(2,105)	$ 0				0		0		0		$ 0	$ 0	$ 0	0					0					0					(2,105)
Changes in additional-paid in capital due to acquisitions	(2,103)	0				0		0		0		0	0	0	(2,103)					0					0					0
Stock accretion	0
Conversion of Class B-1 shares into Class A	0	$ 4				$ 0		$ 0		$ 0		$ (4)	$ 0	$ 0	0					0					0					0
Conversion of Class B-1 shares into Class A (in shares)		353,630				0		0		0		(353,630)	0	0
Conversion of Class B-2 shares into Class A	0	$ 4				$ 0		$ 0		$ 0		$ 0	$ (4)	$ 0	0					0					0					0
Conversion of Class B-2 shares into Class A (in shares)		353,630				0		0		0		0	(353,630)	0
Issuance of restricted stock	0	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					0					0
Issuance of restricted stock (in shares)		15,000						0		0		0	0	0
Net (loss) income	7,643	$ 0				0		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					1,788					5,855
Balance at Dec. 31, 2015	237,712	$ 192				$ 0		$ 0		$ 0		$ 0	$ 0	$ 4	248,484					(32,001)					(9,495)					30,528
Balance (in shares) at Dec. 31, 2015		19,202,112				0		0		0		0	0	353,629
Issuance of Class A common stock, net		$ 51				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	51					0					0					0
Issuance of Class A common stock, net (in shares)		4,265				0		0		0		0	0	0
Conversion of Class B-3 shares into Class A		$ 4				$ 0	$ 0	$ 0		$ 0		$ 0	$ 0	$ (4)	0					0					0					0
Conversion of Class B-3 shares into Class A (in shares)		353,629				0		0		0		0	0	(353,629)
Vesting of restricted stock compensation	133	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	133					0					0					0
Issuance of stock for director compensation	77	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	77					0					0					0
Issuance of stock for director compensation (in share)		7,500				0		0		0		0	0	0
Issuance of LTIP units	5,770	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	5,770					0					0					0
Issuance of LTIP units (in shares)		0				0		0		0		0	0	0
Issuance of LTIP units for compensation	2,821	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	2,821					0					0					0
Issuance of LTIP units for compensation (in shares)		0				0		0		0		0	0	0
Distributions declared	(24,502)	$ 0	$ (10,333)	$ (321)	$ (2,009)	$ (1,100)		$ 0		$ 0		$ 0	$ 0	$ 0	0	$ 0	$ 0	$ 0	$ 0	(24,150)	$ (10,333)	$ (321)	$ (2,009)	$ (1,100)	0	$ 0	$ 0	$ 0	$ 0	(352)	$ 0	$ 0	$ 0	$ 0
Distributions declared (in shares)						2,850,602
Distributions to noncontrolling interests	(3,626)	0				$ 0		0		0		0	0	0	0					0					0					(3,626)
Series B warrants	275	0				0		0		0		0	0	0	275					0					0					0
Contributions from noncontrolling interests, net	25,009	0				0		0		0		0	0	0	0					0					0					25,009
Stock accretion	(893)		$ (627)	$ (149)											0	$ 0	$ 0			(117)	$ (627)	$ (149)			0	$ 0	$ 0			0	$ 0	$ 0
Issuance of Series D Preferred Stock	68,760	$ 0				$ 68,760		$ 0		$ 0		$ 0	$ 0	$ 0	0					0					0					0
Issuance of Series D Preferred Stock (in shares)		0				2,850,602		0		0		0	0	0
Redemption of operating partnership units	(101)	$ 0				$ 0		$ 0		$ 0		$ 0	$ 0	$ 0	(37)					0					0					(64)
Noncontrolling interest related to sale of Springhouse at Newport News	(1,997)	0				0		0		0		0	0	0	20					0					0					(2,017)
Noncontrolling interest related to sale of EOS	(191)	0				0		0		0		0	0	0	(191)					0					0					0
Net (loss) income	(2,974)	0				0		0		0		0	0	0	0					0					(4,329)					1,355
Balance at Dec. 31, 2016	$ 292,561	$ 196				$ 68,760		$ 0		$ 0		$ 0	$ 0	$ 0	$ 257,403					$ (70,807)					$ (13,824)					$ 50,833
Balance (in shares) at Dec. 31, 2016		19,567,506				2,850,602		0		0		0	0	0

CONSOLIDATED STATEMENTS OF CASH

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Cash Flows from Operating Activities
Net (loss) income	$ (2,974)	$ 7,643	$ (6,558)
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	32,435	16,747	13,231
Amortization of fair value adjustments	(362)	(295)	(282)
Preferred returns and equity in income of unconsolidated joint ventures	(11,632)	(6,590)	(1,066)
Equity in gain on sale of real estate assets of unconsolidated joint ventures	0	(11,303)	(4,067)
Gain on sale of joint venture interests	0	0	(1,006)
Gain on sale of real estate assets	(4,947)	(2,677)	0
Gain on revaluation of equity of business combination	(3,761)	0	0
Loss on early extinguishment of debt	(1,104)	0	0
Distributions of income and preferred returns from preferred equity investments and unconsolidated real estate joint ventures	11,405	9,027	720
Share-based compensation attributable to directors' stock compensation plan	210	126	48
Share-based compensation to Former Advisor - LTIP Units	0	0	2,117
Share-based compensation to Manager - LTIP Units	8,591	5,738	964
Changes in operating assets and liabilities:
Due to affiliates	950	737	(291)
Accounts receivable, prepaid expenses and other assets	(1,867)	(5,647)	27
Accounts payable and other accrued liabilities	7,500	3,202	1,308
Net Cash Provided by Operating Activities	34,444	16,708	5,145
Cash Flows from Investing Activities
Acquisition of real estate investments	(472,791)	(241,415)	(59,329)
Capital expenditures	(6,413)	(3,670)	(7,967)
Investment in notes receivable from related parties	(14,717)	0	0
Proceeds from sale of joint venture interests	0	0	4,985
Proceeds from sale of unconsolidated real estate joint venture interests	0	15,590	10,830
Proceeds from sale of real estate assets	36,675	17,862	0
Purchase of interests from noncontrolling interests	(15,581)	(11,942)	(15,447)
Investment in unconsolidated real estate joint venture interests	(26,864)	(65,093)	(10,135)
Deconsolidation of Grove at Waterford and 23Hundred@Berry Hill	0	0	(1,687)
Increase in restricted cash	(13,212)	(42)	(10,335)
Net Cash Used In Investing Activities	(512,903)	(288,710)	(89,085)
Cash Flows from Financing Activities
Distributions to common stockholders	(24,437)	(20,127)	(5,771)
Distributions to noncontrolling interests	(3,626)	(2,105)	(5,774)
Distributions to preferred stockholders	(9,664)	0	0
Contributions from noncontrolling interests	25,009	3,321	5,066
Borrowings on mortgages payable	365,406	151,058	45,335
Repayments on mortgages payable	(68,746)	(12,911)	(468)
Fair value adjustment for debt assumed in acquisition	0	0	(1,547)
Repayments under line of credit	0	0	(7,571)
Payments of deferred financing fees	(4,672)	(1,819)	(2,119)
Net proceeds from issuance of common stock	51	131,321	76,864
Net proceeds from issuance of Warrants underlying the Series B Redeemable Preferred Stock	275	0	0
Payments to redeem Operating Partnership Units	(101)	0	0
Net Cash Provided by Financing Activities	491,546	317,903	104,015
Net Increase in Cash and Cash Equivalents	13,087	45,901	20,075
Cash and Cash Equivalents, beginning of period	68,960	23,059	2,984
Cash and Cash Equivalents, end of period	82,047	68,960	23,059
Supplemental Disclosure of Cash Flow Information
Cash paid for interest (net of amounts capitalized)	18,095	10,909	7,769
Supplemental Disclosure of Non-Cash Investing and Financing Activities
Distributions payable - declared and unpaid	7,328	3,163	889
Mortgages assumed upon property acquisitions	39,054	32,942	116,800
Proceeds of sale of property held in restricted cash	20,521	0	0
Class A common stock issued upon property acquisitions	0	0	15,188
OP Units issued for property acquisitions	0	0	4,100
Reduction of assets from deconsolidation	0	0	63,109
Reduction of mortgages payable from deconsolidation	0	0	43,453
Reduction of noncontrolling interests from deconsolidation	0	0	7,814
Series A Preferred Stock [Member]
Cash Flows from Financing Activities
Proceeds from Issuance of Preferred Stock and Preference Stock	68,524	69,165	0
Series B Preferred Stock [Member]
Cash Flows from Financing Activities
Proceeds from Issuance of Preferred Stock and Preference Stock	18,789	0	0
Series C Preferred Stock [Member]
Cash Flows from Financing Activities
Proceeds from Issuance of Preferred Stock and Preference Stock	55,978	0	0
Series D Preferred Stock [Member]
Cash Flows from Operating Activities
Net (loss) income	0	0	0
Cash Flows from Financing Activities
Proceeds from Issuance of Preferred Stock and Preference Stock	$ 68,760	$ 0	$ 0

CONSOLIDATED STATEMENTS OF CAS7

CONSOLIDATED STATEMENTS OF CASH FLOWS [Parenthetical]	12 Months Ended
	Dec. 31, 2016
Series A Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	8.25%
Series C Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	7.625%
Series D Preferred Stock [Member]
Preferred Stock, Dividend Rate, Percentage	7.125%

Organization and Nature of Busi

Organization and Nature of Business	12 Months Ended
	Dec. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Nature of Operations [Text Block]	Note 1 — Organization and Nature of Business Bluerock Residential Growth REIT, Inc. (the “Company”) 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% of its “REIT taxable income,” as defined by the Internal Revenue Code of 1986, as amended (the “Code”), to the Company’s stockholders. If the Company fails to qualify as a REIT in any taxable year, it would be subject to federal income tax on its taxable income at regular corporate tax rates. As of December 31, 2016, the Company’s portfolio consisted of interests in thirty-one properties (twenty-one operating properties and ten development properties). The Company’s thirty-one properties contain an aggregate of 9,570 units, comprised of 6,972 operating units and 2,598 units under development. As of December 31, 2016, the stabilized properties, exclusive of our development properties, were approximately 94% occupied.

Basis of Presentation and Summa

Basis of Presentation and Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Basis of Presentation and Significant Accounting Policies [Text Block]	Note 2 — Basis of Presentation and Summary of Significant Accounting Policies Principles of Consolidation and Basis of Presentation The Company operates as an umbrella partnership REIT in which 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 December 31, 2016, limited partners other than the Company owned approximately 8.86% of the Operating Partnership (1.39% is held by holders of limited partnership interest in the Operating Partnership (“OP Units”) and 7.47% is held by holders of the Operating Partnership’s long-term incentive plan units (“LTIP Units”)). Bluerock Real Estate, L.L.C., a Delaware limited liability company, is referred to as Bluerock (“Bluerock”), and the Company’s external manager, BRG Manager, LLC, a Delaware limited liability company, is referred to as its Manager (“Manager”). Both Bluerock and the Manager are related parties with respect to the Company, but are not within the Company’s control and are not consolidated in the Company’s financial statements. 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. Effective January 1, 2016, the Company adopted ASU No. 2015-02, “Consolidation-Amendments to the Consolidation Analysis,” which modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”), particularly those with fee arrangements and related party relationships. The Company reviewed all of its entities in accordance with ASU 2015-02 and concluded that certain of its legal entities, including the Operating Partnership, which has always been consolidated, are now VIE’s. There were no entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. As a result of the classification of the Operating Partnership as a VIE, substantially all of the Company’s assets and liabilities are assets and liabilities of a VIE. Accordingly, the adoption of ASU 2015-02 had no other impact on the Company’s consolidated financial statements. The Company consolidates entities in which it owns 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 “Preferred equity investments and 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 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. Summary of Significant Accounting Policies Use of Estimates The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Fair Value Measurements Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2 — Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 — Prices or valuation techniques where little or no market data is available that requires inputs that are significant to the fair value measurement and unobservable. If the inputs used to measure the fair value fall within different levels of the hierarchy, the fair value is determined based upon the lowest level input that is significant to the fair value measurement. Whenever possible, the Company uses quoted market prices to determine fair value. In the absence of quoted market prices, the Company uses independent sources and data to determine fair value. Preferred Equity Investments and Investments in Unconsolidated Real Estate Joint Ventures The Company first analyzes its investments in joint ventures to determine if the joint venture is a variable interest entity (“VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation. A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest. VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity. Variable interests in a VIE are contractual, ownership, or other financial interests in a VIE that change in value with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses at each level of the joint venture whether the entity is (i) a VIE, and (ii) if the Company is the primary beneficiary of the VIE. If it was determined an entity in which the Company holds a joint venture interest qualified as a VIE and the Company was the primary beneficiary, the entity would be consolidated. If, after consideration of the VIE accounting literature, the Company has determined that an entity is not a VIE, the Company assesses the need for consolidation under all other provisions of ASC 810. These provisions provide for consolidation of majority-owned entities through a majority voting interest held by the Company providing control, or through determination of control by virtue of the Company being the general partner in a limited partnership or the controlling member of a limited liability company. In assessing whether the Company is in control of and requiring consolidation of the limited liability company and partnership venture structures the Company evaluates the respective rights and privileges afforded each member or partner (collectively referred to as “member”). The Company’s member would not be deemed to control the entity if any of the other members have either (i) substantive kickout rights providing the ability to dissolve (liquidate) the entity or otherwise remove the managing member or general partner without cause or (ii) has substantive participating rights in the entity. Substantive participating rights (whether granted by contract or law) provide for the ability to effectively participate in significant decisions of the entity that would be expected to be made in the ordinary course business. If it has been determined that the Company does not have control, but does have the ability to exercise significant influence over the entity, the Company accounts for these unconsolidated investments under the equity method of accounting. The equity method of accounting requires these investments to be initially recorded at cost and subsequently increased (decreased) for the Company’s share of net income (loss), including eliminations for the Company’s share of inter-company transactions, and increased (decreased) for contributions (distributions). The Company’s proportionate share of the results of operations of these investments is reflected in the Company’s earnings or losses. The Company recognizes interest income on mortgage loans on the accrual method unless a significant uncertainty of collection exists. If a significant uncertainty exists, interest income is recognized as collected. The Company evaluates the collectibility of both interest and principal on each of its loans to determine whether the loans are impaired. A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the underlying collateral (if the loan is collateralized) less costs to sell. As of December 31, 2016, there was no significant uncertainty of collection; therefore, interest income was recognized. As of December 31, 2016, the Company determined that no allowance for collectibility of the mortgage loans receivable was necessary. Real Estate Assets Development, Improvements, Depreciation and Amortization Costs incurred to develop and improve properties are capitalized. The Company capitalizes direct and indirect costs that are clearly related to the development, construction, or improvement of Properties, including internal costs such as interest, taxes, and qualifying payroll related expenditures. Cost capitalization begins once the development or construction activity commences and ceases when the asset is ready for its intended use. Repair and maintenance and tenant turnover costs are charged to expense as incurred. Repair and maintenance and tenant turnover costs include all costs that do not extend the useful life of the real estate asset. Depreciation and amortization expense is computed on the straight-line method over the asset’s estimated useful life. The Company considers the period of future benefit of an asset to determine its appropriate useful life and anticipates the estimated useful lives of assets by class to be generally as follows: Buildings 30 – 40 years Building improvements 5 – 15 years Land improvements 5 – 15 years Furniture, fixtures and equipment 3 – 7 years In-place leases 6 months Real Estate Purchase Price Allocations The Company records the acquisition of income-producing real estate or real estate that meets the definition of a business and will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition date fair values. Acquisition costs are expensed as incurred. Intangible assets include the value of in-place leases, which represents the estimated fair value of the net cash flows of leases in place at the time of acquisition to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. The Company amortizes the value of in-place leases to expense over the remaining non-cancelable term of the respective leases, which is on average six months. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods prevailing interest rates and the number of years the property will be held for investment. The use of inappropriate assumptions could result in an incorrect valuation of acquired tangible assets, identifiable intangible assets and assumed liabilities, which could impact the amount of the Company’s net income (loss). Differences in the amount attributed to the fair value estimate of the various assets acquired can be significant based upon the assumptions made in calculating these estimates. Impairment of Real Estate Assets The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of the Company’s real estate and related intangible assets may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability of the assets by estimating whether the Company will recover the carrying value of the asset through its undiscounted future cash flows and its eventual disposition. Based on this analysis, if the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company will record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. No impairment charges were recorded in 2016, 2015 or 2014. Cash and Cash Equivalents The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value. Restricted Cash Restricted cash is comprised of lender imposed escrow accounts for replacement reserves and amounts set aside for real estate taxes and insurance and amounts set aside for reinvestment in accordance with Internal Revenue Service Code Section 1031 related to like-kind exchanges. Concentration of Credit Risk The Company maintains cash balances with high quality financial institutions and periodically evaluates the creditworthiness of such institutions and believes that the Company is not exposed to significant credit risk. Cash balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation. Rents and Other Receivables The Company will periodically evaluate the collectability of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of tenants in developing these estimates. Deferred Financing Fees Deferred financing fees represent commitment fees, legal fees and other third party costs associated with obtaining financing. Deferred financing fees paid by the Company on behalf of its consolidated joint ventures are capitalized, reflected as a reduction of mortgages payable, and amortized to interest expense over the terms of the financing agreement using the straight-line method, which approximates the effective interest method. Deferred financing fees paid by the Company on behalf of its unconsolidated joint ventures are recorded within investments in unconsolidated real estate joint ventures on the consolidated balance sheets and are amortized to equity in income (loss) of unconsolidated real estate joint ventures. Noncontrolling Interests Noncontrolling interests are comprised of the Company’s joint venture partners’ interests in consolidated joint ventures, as well as interests held by OP Unit holders. The Company reports its joint venture partners’ interest in its consolidated real estate joint ventures and other subsidiary interests held by third parties as noncontrolling interests. The Company records these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss and equity contributions and distributions. These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity. Income and losses are allocated to the noncontrolling interest holder pursuant to each joint venture’s operating agreement. Revenue Recognition Rental income related to tenant leases is recognized on an accrual basis over the terms of the related leases on a straight-line basis. Amounts received in advance are recorded as a liability within other related liabilities. Other property revenues are recognized in the period earned. The Company records sales of real estate assets using the full accrual method at closing when both of the following conditions are met: a) the profit is determinable, meaning that, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated; and b) the earnings process is virtually complete, meaning that the seller is not obligated to perform significant activities after the sale to earn the profit. Sales not qualifying for full recognition at the time of sale are accounted for under other appropriate deferral methods. Stock-Based Compensation The Company expenses the fair value of share awards in accordance with the fair value recognition requirements of ASC Topic 718 “Compensation-Stock Compensation.” ASC Topic 718 requires companies to measure the cost of the recipient services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. The cost of the share award is expensed over the requisite service period (usually the vesting period). Distribution Policy The Company expects to authorize and declare regular cash distributions to its stockholders in order to maintain its REIT status. Distributions to stockholders will be determined by the Company’s Board of Directors and will be dependent upon a number of factors, including funds available for the payment of distributions, financial condition, the timing of property acquisitions, capital expenditure requirements, and annual distribution requirements in order to maintain the Company’s status as a REIT, and other considerations as the Board of Directors may deem relevant. Distributions are recorded as a reduction of stockholders’ equity in the period in which they are declared. Related Party Transactions Prior to the IPO, the Company was externally advised by its former advisor, Bluerock Multifamily Advisor, LLC (the “Former Advisor”), an affiliate of Bluerock. Under the initial advisory agreement, the Company was obligated to pay the Former Advisor specified fees upon the provision of certain services related to, the investment of funds in real estate investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company was also obligated to reimburse the Former Advisor for organization and offering costs incurred by the Former Advisor on the Company’s behalf, and was obligated to reimburse the Former Advisor for acquisition expenses and certain operating expenses incurred on its behalf or incurred in connection with providing services to the Company. The Company recorded all related party fees as incurred, subject to any limitations described in the advisory agreement. This advisory agreement was terminated on April 2, 2014 in connection with the Company’s IPO. On April 2, 2014, upon the completion of the IPO, the Company entered into a Management Agreement with the Manager, an affiliate of Bluerock, to be the Company’s external manager. Under the Management Agreement the Company pays the Manager a base management fee and incentive fee. The Company records all related party fees as incurred. Selling Commissions and Dealer Manager Fees In conjunction with the offering of the Series B Preferred Stock, the Company engaged a related party, as dealer manager, up to 7% and 3% of the gross offering proceeds from the offering as selling commissions and dealer manager fees, respectively. The dealer manager may re-allow the selling commissions and dealer manager fees to participating broker-dealers, and is expected to incur costs in excess of the 10%, which costs will be borne by the dealer manager. Offering costs related to each closing are reclassified as a reduction of proceeds raised on the date of issue. Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and has qualified since the taxable year ended December 31, 2010. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to continue to organize and operate in such a manner as to remain qualified for treatment as a REIT. For the year ended December 31, 2016, 100% of the distributions received by the common stockholders were classified as return of capital for income tax purposes and none were ordinary income. In addition, for the year ended December 31, 2016, 91.05% of the distributions received by the preferred stockholders were classified as return of capital for income tax purposes and 8.95% were ordinary income. For the year ended December 31, 2015, 99.46% of the distributions received by the common stockholders were classified as return of capital for income tax purposes and 0.54% were ordinary income. For the year ended December 31, 2014, 8.2% of the distributions received by the common stockholders were classified as unrecaptured section 1250 capital gains and 91.8% were classified as return of capital for tax purposes. ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. It requires a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken, or expected to be taken, in an income tax return. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Management has considered all positions taken on the 2010 through 2015 tax returns (where applicable), and those positions expected to be taken on the 2016 tax returns, and concluded that tax positions taken will more likely than not be sustained at the full amount upon examination. Accordingly, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its consolidated financial statements. The Company expects no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of December 31, 2016. If any income tax exposure was identified, the Company would recognize an estimated liability for income tax items that meet the criteria for accrual. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. If any interest and penalties related to income tax assessments arose, the Company would record them as income tax expense. As of December 31, 2016, tax returns for the calendar years 2010 and subsequent remain subject to examination by the Internal Revenue Service and various state tax jurisdictions. Reportable Segment The Company’s current business consists of investing in and operating multifamily communities. Substantially all of its consolidated net income (loss) is from investments in real estate properties that the Company owns through co-investment ventures which it either consolidates or accounts for under the equity method of accounting. The Company evaluates operating performance on an individual property level and based on the properties’ similar economic characteristics, the Company’s properties are aggregated into one reportable segment. In January 2017, the FASB issued ASU 2017-01, “Business Combinations; Clarifying the Definition of a Business” (“ASU 2017-01). ASU 2017-01 modifies the requirements to meet the definition of a business under Topic 805, “Business Combinations.” The amendments provide a screen to determine when a set of identifiable assets and liabilities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. The impact is expected to result in fewer transactions being accounted for as business combinations. The Company believes that this amendment will result in most if its real estate acquisitions to be accounted for as asset acquisitions rather than business combinations. ASU 2017-01 is effective for the Company for annual and interim periods beginning after December 15, 2017 with early adoption permitted. The Company adopted this standard effective January 1, 2017. The impact to the Consolidated Financial Statements and related notes as a result of the adoption of this standard is primarily related to the difference in the accounting of acquisition costs. When accounting for these costs as a part of an asset acquisition, the Company will be permitted to capitalize the costs. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows; Restricted Cash” (“ASU 2016-18”). This update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company does not expect the adoption of this to have a material impact on the Company’s Consolidated Financial Statements and related notes. ASU 2016-18 is effective for the Company for annual and interim periods beginning after December 15, 2017 with early adoption permitted. In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). The ASU provides guidance on the treatment of cash receipts and cash payments for certain types of cash transactions, to eliminate diversity in practice in the presentation of the cash flow statement. For public business entities, the amendments in ASU 2016-15 are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Earlier application is permitted. The Company is still in the process of determining the impact that the implementation of ASU 2016-15 will have on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-07, “Simplifying the Transition to the Equity Method of Accounting” (“ASU 2016-07”), which eliminates the requirement to retroactively adjust an investment, results of operations, and retained earnings when the investment qualifies for the use of the equity method as a result of an increase in the level of ownership interest or degree of influence. The new standard is effective for annual reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is still in the process of determining the impact that the implementation of ASU 2016-07 will have on the Company’s financial statements. In June 2016, the FASB updated Accounting Standards Codification (“ASC”) Topic 326 “Financial Instruments — Credit Losses” with 2016-13 “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-03”). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods (including interim periods within those periods) beginning after December 15, 2019. The Company is currently evaluating the guidance and has not determined the impact this standard may have on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company expects that, because of the ASU 2016-02’s emphasis on lessee accounting, ASU 2016-02 will not have a material impact on the Company’s accounting for leases. Consistent with present standards, the Company will continue to account for lease revenue on a straight-line basis. Also consistent with the Company’s current practice, under ASU 2016-02 only initial direct costs that are incremental to the lessor will be capitalized. 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 adoption had the effect of reducing total assets and total liabilities on the Company’s Consolidated Balance Sheet at December 31, 2015, by the amount of unamortized loan costs of $3.5 million. 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 ending after December 15, 2016. ASU 2014-15 did not 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 201

Real Estate Assets Held for Sal

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests	12 Months Ended
	Dec. 31, 2016
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% indirect equity interest sold the Creekside property as discussed below. On August 28, 2014, the Company’s Investment Committee approved a plan to sell North Park Towers and the Company classified amounts related to the property as held for sale as of December 31, 2014. See below for information regarding the sale of North Park Towers on October 16, 2015. Property Classified as Discontinued Operations For the year Total revenues $ 508 Expenses Property operating expenses (177 ) Depreciation and amortization (184 ) Management fees (8 ) Interest expense, net (149 ) Loss on operations of rental property $ (10 ) Gain on sale of joint venture interest 1,006 Loss on early extinguishment of debt (880 ) Income from discontinued operations $ 116 Sale of Joint Venture Equity Interests On December 10, 2014, the Company through BEMT Augusta, LLC, sold its 25.0% interest in the Estates at Perimeter/Augusta, Bluerock Special Opportunity + Income Fund II, LLC (“Fund II”) sold its 25.0% interest, and an unaffiliated third party (“BRG Co-Owner”), sold its 50.0% interest, to Waypoint Residential Services, LLC, an unaffiliated third party, for an aggregate of $26.0 million, subject to a loan prepayment penalty and certain prorations and adjustments typical in such real estate transactions. After deduction for payment of the existing mortgage indebtedness and loan prepayment penalty, closing costs and fees, the sale of the Company’s interest in the Estates at Perimeter/Augusta generated net proceeds to the Company of approximately $1.7 million and a gain on sale of $0.6 million. 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% indirect equity interest in Berry Hill, Bluerock Special Opportunity + Income Fund III, LLC (“Fund III”), a Delaware limited liability company and an affiliate of the Company’s Manager, held a 28.4% indirect equity interest, Bluerock Growth Fund, LLC (“BGF”), a Delaware limited liability company and an affiliate of the Company’s Manager, held a 29.0% indirect equity interest, and Stonehenge 23Hundred JV Member, LLC (“Stonehenge JV Member”), an affiliate of Stonehenge Real Estate Group, LLC (“Stonehenge”), an unaffiliated third party, held the remaining 17.5% indirect equity interest plus a promote interest based on investment return hurdles for its service as developer of the property. These indirect equity interests were all held in BR Stonehenge 23Hundred JV, LLC, a Delaware limited liability company, which owns 100% of 23Hundred, LLC (“23Hundred”), a Delaware limited liability company, which in turn owned 100% of Berry Hill. 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, hold a 42.2% undivided tenant-in-common interest in (the Company, through BEMT Berry Hill own a 19.8% indirect equity interest and Fund III owns a 22.4% indirect equity interest); (ii) BGF’s subsidiary BGF 23Hundred, LLC, a Delaware limited liability company, holds a 22.9% undivided tenant-in-common interest; and (iii) Stonehenge JV Member’s subsidiary SH 23Hundred TIC, LLC, a Delaware limited liability company, holds a 34.8% undivided tenant-in-common interest. As a result of the restructuring in December 2014, the Company no longer controlled Berry Hill through its voting rights. Accordingly, the Company’s investment in Berry Hill was deconsolidated and subsequently accounted for under the equity method. 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 an unaffiliated third party. The aggregate purchase price was $61.2 million, subject to certain prorations and adjustments typical in such real estate transactions. After deduction for payment of the existing mortgage indebtedness and payment of closing costs and fees, the sale of the Company’s interest in Berry Hill generated net proceeds of approximately $7.3 million to the Company and a consolidated gain on sale of $11.3 million, of which the Company’s pro rata share of gain is $5.3 million before disposition expenses of $0.1 million, which was included in the Company’s statement of operations for the year ended December 31, 2015. 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% tenant-in-common interest in the Grove at Waterford property. On December 18, 2014, BRG Grove sold its 60.0% tenant-in-common interest in the Grove at Waterford property, and BRG Co-Owner its 40.0% tenant-in-common interest, to an unaffiliated third party, for an aggregate of $37.7 million, subject to a loan prepayment penalty and certain prorations and adjustments typical in such real estate transactions. After deduction for payment of the existing mortgage indebtedness and loan prepayment penalty, closing costs and fees, the sale of the Company’s interest in the Grove at Waterford generated net proceeds to the Company of approximately $9.0 million and a gain on sale of $3.5 million. 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 million, subject to certain prorations and adjustments typical in such real estate transactions. After deduction for payment of the existing mortgage indebtedness encumbering the Creekside property in the approximate amount of $13.5 million and payment of closing costs and fees, excluding disposition fees of approximately $0.1 million deferred by the Former Advisor, the sale of the Creekside property generated net proceeds to the Company of approximately $1.2 million and a gain on sale of $1.0 million. 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%- owned property was sold for approximately $18.2 million, subject to certain prorations and adjustments typical in such real estate transactions. After deduction for payment of the existing mortgage indebtedness encumbering the North Park Towers property in the amount of $11.5 million and payment of closing costs and fees, the sale of the property generated net proceeds for the Company of approximately $6.6 million and a gain on sale of $2.7 million, net of disposition expenses of $0.3 million. Sale of Springhouse at Newport News On August 10, 2016, the Company closed on the sale of the Springhouse at Newport News property, located in Newport News, Virginia, and the buyout of its 25% joint venture partner in conjunction with the sale. The property was sold for approximately $38.0 million, subject to certain prorations and adjustments typical in such real estate transactions. After deduction for the defeasance of the existing mortgage indebtedness encumbering the Springhouse at Newport News property in the amount of $25.4 million and payment of closing costs and fees of $0.5 million the sale of the property generated net proceeds for the Company of approximately $9.0 million and a gain on sale of approximately $4.9 million.

Investments in Real Estate

Investments in Real Estate	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Real Estate Disclosure [Text Block]	Note 4 — Investments in Real Estate As of December 31, 2016, the Company was invested in twenty-one operating real estate properties and ten development properties generally through joint venture partnerships. The following tables provide summary information regarding the Company’s operating and development investments, which are either consolidated or presented on the equity method of accounting. Multifamily Community, Name, Location Number of Year (1) Ownership ARIUM at Palmer Ranch, Sarasota, FL 320 2016 95.0 % ARIUM Grandewood, Orlando, FL 306 2005 95.0 % ARIUM Gulfshore, Naples, FL 368 2016 95.0 % ARIUM Palms, Orlando, FL 252 2008 95.0 % ARIUM Pine Lakes, Port St. Lucie, FL 320 2003 85.0 % ARIUM Westside, Atlanta, GA 336 2008 90.0 % Ashton Reserve, Charlotte, NC 473 2015 100.0 % Enders at Baldwin Park, Orlando, FL 220 2003 89.5 % Fox Hill, Austin, TX 288 2010 94.6 % Lansbrook Village, Palm Harbor, FL 619 2004 90.0 % Legacy at Southpark, Austin, TX 250 2016 90.0% Multifamily Community, Name, Location Number of Year (1) Ownership MDA Apartments, Chicago, IL 190 2006 35.3 % Nevadan, Atlanta, GA 480 1990 90.0 % Park & Kingston, Charlotte, NC 168 2015 96.0 % Roswell City Walk, Roswell, GA 320 2015 98.0 % Sorrel, Frisco, TX 352 2015 95.0 % Sovereign, Fort Worth, TX 322 2015 95.0 % The Preserve at Henderson Beach, Destin, FL 340 2009 100.0 % The Brodie, formerly referred to as Deerfield, Austin, TX 324 2001 92.5 % Village Green of Ann Arbor, Ann Arbor, MI 520 2013 48.6 % Whetstone, Durham, NC 204 2015 (2) Total 6,972 (1) Represents date of last significant renovation or year built if there were no renovations. (2) Whetstone is currently a preferred equity investment providing a stated investment return. Multifamily Community Name/Location Number of Anticipated Initial Occupancy Anticipated Construction Completion Alexan CityCentre, Houston, TX 340 2Q 2017 4Q 2017 Alexan Southside Place, Houston, TX 270 4Q 2017 2Q 2018 APOK Townhomes, Boca Raton, FL 90 1Q 2018 3Q 2018 Crescent Perimeter, Atlanta, GA 320 3Q 2018 1Q 2019 Domain, Garland, TX 299 3Q 2018 1Q 2019 Flagler Village, Ft. Lauderdale, FL 384 3Q 2019 3Q 2020 Helios, formerly known as Cheshire Bridge, Atlanta, GA 285 2Q 2017 4Q 2017 Lake Boone Trail, Raleigh, NC 245 1Q 2018 3Q 2018 Vickers Village, Roswell, GA 79 1Q 2018 3Q 2018 West Morehead, Charlotte, NC 286 4Q 2018 2Q 2019 Total 2,598

Acquisition of Real Estate

Acquisition of Real Estate	12 Months Ended
	Dec. 31, 2016
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 years ended December 31, 2016 and 2015: Acquisition of Additional Interest in Lansbrook Village In December 2015, the Company invested an additional $3.7 million, plus customary prorations, in equity in Lansbrook Village, increasing the Company’s indirect ownership interest in the property from 76.8% to approximately 90.00%. The additional interests were purchased from Fund II and Fund III, affiliates of our Manager, based on an appraisal value, plus customary prorations. 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 million in a multi-tiered joint venture along with Fund III to acquire 153 newly-constructed units (the “Phase I Units”) in a Class AA apartment community in Charlotte, North Carolina known as the Park & Kingston Apartments (“Park & Kingston”). The Company’s indirect ownership interest in Park & Kingston was 46.95%. The purchase price for the Phase I Units of $27.85 million was funded, in part, with a $15.25 million senior mortgage loan secured by the Park & Kingston property and improvements. In May 2015, the Company invested an additional $6.5 million, plus customary prorations, in equity in Park & Kingston, increasing the Company’s indirect ownership interest in the property from 46.95% to approximately 96.0%. The additional interests were purchased from Fund III based on the original purchase price on a pro rata basis, plus customary prorations. At the time of the acquisition of Park & Kingston the Company had the ability to acquire 15 units under development at Park & Kingston (the “Phase II Units”). On November 30, 2015, the Company acquired 100% of the Phase II Units for a purchase price of approximately $2.9 million, plus customary prorations. In May 2016, in conjunction with combining the operations of Park & Kingston Phase I and Phase II into one ownership entity and entering into a financing transaction for the Phase II units, Fund III purchased 4% of the interest of the Phase II units for $0.1 milllion, in order for the ownership interest of the two parties to be consistent with the Phase I ownership. Acquisition of Interest in Fox Hill On March 26, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $10.2 million in a multi-tiered joint venture along with Fund III, and three unaffiliated investors (collectively, the “Third Parties”), to acquire a 288-unit apartment community located in Austin, Texas known as the Fox Hill Apartments (“Fox Hill”). The Company’s indirect ownership in Fox Hill was 85.27%. The purchase price of $38.15 million was funded, in part, with a $26.71 million senior mortgage loan secured by the Fox Hill property and improvements. In May 2015, the Company invested an additional $1.1 million, plus customary prorations, in equity in Fox Hill, increasing the Company’s indirect ownership interest in the property from 85.27% to approximately 94.62%. The additional interests were purchased from Fund III based on the original purchase price on a pro rata basis, plus customary prorations. Acquisition of Interest in Ashton Reserve, comprised of Ashton I and II On August 19, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $13.5 million to acquire a 100% fee simple interest in a 322-unit apartment community located in Charlotte, North Carolina known as the Ashton Reserve at Northlake Phase I (“Ashton I”). The purchase price of $44.75 million was funded, in part, with the assumption of a $31.9 million senior mortgage loan secured by the Ashton I property and improvements. In addition, on December 14, 2015, the Company, through a subsidiary of our Operating Partnership, acquired an additional 151-unit apartment community adjacent to Ashton I, known as Ashton Reserve at Northlake Phase II, (“Ashton II”). The purchase price of approximately $21.8 million was funded, in part, with a $15.3 million senior mortgage loan secured by the Ashton II property and improvements. Acquisition of ARIUM Palms at World Gateway On August 20, 2015, the Company, through subsidiaries of its Operating Partnership, completed an investment of $13.0 million in a multi-tiered joint venture along with an unaffiliated investor, to acquire a 252-unit apartment community located in Orlando, Florida known as the ARIUM Palms at World Gateway Apartments (“ARIUM Palms”). The Company’s indirect ownership in ARIUM Palms was 95.0%. The purchase price of $37.0 million was funded, in part, with a $25.0 million senior mortgage loan secured by the ARIUM Palms property and improvements. Acquisition of Sorrel and Sovereign Apartments On October 29, 2015, the Company, through subsidiaries of its Operating Partnership, completed investments of approximately $17.7 million and approximately $15.2 million in a multi-tiered joint venture along with an affiliate of Carroll Organization, to acquire (i) a 352-unit Class A apartment community located in Frisco, Texas known as the Sorrel Apartments (“Sorrel”) and (ii) a 322-unit Class A apartment community located in Fort Worth, Texas known as The Sovereign Apartments (“Sovereign”), respectively. The Company’s indirect ownership interest in the joint venture that owns Sorrel and Sovereign is 95.0%. Sorrel’s purchase price of approximately $55.3 million was funded, in part, with a $38.7 million senior mortgage loan secured by Sorrel property and improvements. Sovereign’s purchase price of approximately $44.4 million was funded, in part, with a $28.9 million senior mortgage loan secured by the Sovereign property and improvements. Acquisition of ARIUM Gulfshore, formerly Summer Wind, and ARIUM Palmer Ranch, formerly Citation Club Apartments On January 5, 2016, the Company, through subsidiaries of its Operating Partnership, completed investments of approximately $15.9 million and approximately $13.6 million in a multi-tiered joint venture along with an affiliate of Carroll Organization, to acquire (i) a 368-unit apartment community located in Naples, Florida to be known as ARIUM Gulfshore, formerly known as the Summer Wind Apartments (“ARIUM Gulfshore”) and (ii) a 320-unit apartment community located in Sarasota, Florida to be known as ARIUM at Palmer Ranch, formerly known as Citation Club Apartments (“ARIUM at Palmer Ranch”), respectively. The Company’s indirect ownership interest in the joint venture that owns ARIUM Gulfshore and ARIUM at Palmer Ranch is 95.0%. ARIUM Gulfshore’s purchase price of approximately $47.0 million was funded, in part, with a $32.6 million senior mortgage loan secured by ARIUM Gulfshore property and improvements. ARIUM at Palmer Ranch’s purchase price of approximately $39.3 million was funded, in part, with a $26.9 million senior mortgage loan secured by the ARIUM at Palmer Ranch property and improvements. Acquisition of The Preserve at Henderson Beach On March 15, 2016, the Company, through subsidiaries of its Operating Partnership, completed an investment of approximately $17.2 million to acquire a 100% fee interest in a 340-unit apartment community located in Destin, Florida, known as Alexan Henderson Beach to be rebranded as The Preserve at Henderson Beach (“Henderson Beach”) for approximately $53.7 million. The purchase price for Henderson Beach included the assumption of a $37.5 million loan secured by Henderson Beach. Acquisition of ARIUM Westside On July 14, 2016, the Company, through subsidiaries of its Operating Partnership, completed an investment of approximately $22.2 million to acquire a leasehold interest in a 336-unit, Class A, mixed-use apartment community located in Atlanta, Georgia, known as Tenside Apartment Homes, to be rebranded as ARIUM Westside (“Westside”). The Company’s indirect ownership interest in the joint venture that owns Westside is 90%. The purchase price for Westside of approximately $74.5 million was funded, in part, with a $52.2 million senior mortgage loan secured by the Westside leasehold interest (the “Westside Loan”). The Company provided certain standard scope non-recourse carveout guarantees in conjunction with the Westside Loan. Acquisition of Nevadan Apartments On October 13, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, completed an investment of approximately $22.8 million along with an affiliate of Carroll Organization, to acquire a 480-unit apartment community located in Atlanta, Georgia known as Nevadan Apartments. The Company’s indirect ownership in the joint venture that owns Nevadan Apartments is 90%. Nevadan Apartments’ purchase price of approximately $68.25 million was funded, in part, with a $48.4 million senior mortgage loan secured by the Nevadan Apartments property and improvements (the “Nevadan Loan”). The Company provided certain standard scope non-recourse carveout guarantees in conjunction with the Nevadan Loan. Acquisition of ARIUM Pine Lakes, formerly known as Apex Prima Vista Apartments On October 31, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, completed an investment of approximately $11.3 million along with an affiliate of Carroll Organization, to acquire a 320-unit, garden-style apartment community located in Port St. Lucie, Florida known as Apex Prima Vista Apartments which the Company has rebranded as ARIUM Pine Lakes. The Company’s indirect ownership in the joint venture that owns Apex Prima Vista Apartments is 85%. Apex Prima Vista Apartments’ purchase price of approximately $38.3 million was funded, in part, with senior mortgage loan secured by the Apex Prima Vista Apartments property and improvements (the “Apex Loan”) of approximately $27.0 million. The Company provided certain standard scope non-recourse carveout guarantees in conjunction with the Apex Loan. Acquisition of The Brodie, formerly known as Deerfield Apartments On November 10, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, completed an investment of approximately $15.3 million along with an affiliate of F & B Capital, to acquire a 324-unit, garden-style apartment community located in Austin, Texas known as Deerfield Apartments which the Company has rebranded as The Brodie. The Company’s indirect ownership in the joint venture that owns The Brodie is 92.5%. The Brodie’s purchase price of approximately $48.9 million was funded, in part, with senior mortgage loan secured by The Brodie’s property and improvements (the “Brodie Loan”) of approximately $34.8 million. Acquisition of Roswell City Walk On December 1, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, completed an investment of approximately $25.5 million along with an affiliate of Carroll Organization, to acquire a 320-unit apartment community located in Roswell, Georgia known as Roswell City Walk. The Company’s indirect ownership in the joint venture that owns Roswell City Walk is 98%. Roswell City Walk’s purchase price of approximately $76.0 million was funded, in part, with senior mortgage loan secured by the Roswell City Walk property and improvements (the “Roswell City Walk Loan”) of approximately $51.0 million. The Company provided certain standard scope non-recourse carveout guarantees in conjunction with the Roswell City Walk Loan. Acquisition of Legacy at Southpark On December 15, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, completed an investment of approximately $10.4 million along with an affiliate of F & B Capital, to acquire a 250-unit apartment community located in Austin, Texas known as Legacy at Southpark. The Company’s indirect ownership in the joint venture that owns Legacy at Southpark is 90%. Legacy at Southpark’s purchase price of approximately $36.8 million was funded, in part, with senior mortgage loan secured by the Legacy at Southpark property and improvements (the “Legacy Loan”) of approximately $26.5 million. Purchase Price Allocation With the exception of Crescent Perimeter and Vickers Village discussed below, the acquisitions have been accounted for as business combinations. The purchase prices were allocated to the acquired assets and assumed 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. Purchase Land $ 68,153 Building 370,785 Building improvements 10,989 Land improvements 15,895 Furniture and fixtures 7,886 In-place leases 10,719 Total assets acquired $ 484,427 Mortgages assumed $ 37,476 Fair value adjustments 1,578 Total liabilities acquired $ 39,054 In connection with the acquisition of The Preserve at Henderson Beach, the Company assumed mortgage debt with a fair value of approximately $39.1 million. For the Year Ended December 31, For the Year Ended December 31, 2016 2015 As Reported Pro-Forma Pro-Forma As Reported Pro-Forma Pro-Forma Revenues $ 77,051 $ 23,152 $ 100,203 $ 44,255 $ 45,414 $ 89,669 Net (loss) income $ (2,974 ) $ 2,802 $ (172 ) $ 7,643 $ (24,970 ) $ (17,327 ) Net (loss) income attributable to common stockholders $ (18,985 ) $ 2,756 $ (16,229 ) $ 635 $ (23,521 ) $ (22,886 ) Earnings per share, basic and diluted (1) $ (0.91 ) $ (0.78 ) $ 0.04 $ (1.31 ) (1) Pro-forma earnings 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 2016 acquisitions noted above, since the properties’ respective acquisition dates, that are reflected in the Company’s 2016 consolidated statement of operations amounted to $46.9 million and $6.1 million, respectively. Investment in Crescent Perimeter On December 12, 2016, through joint venture subsidiaries of the Operating Partnership, the Company made a common equity investment of approximately $15.2 million to obtain an approximately 60% interest in a multi-tiered joint venture structure along with an affiliate of Manager and an affiliate of Crescent Communities, to acquire a tract of real property located in Atlanta, Georgia for the development of a 320-unit, Class A apartment community, to be known as Crescent Perimeter. The acquisition was accounted for as an asset acquisition. Investment in Vickers Village On December 20, 2016, through joint venture subsidiaries of the Operating Partnership, the Company made a common equity investment of approximately $8.5 million to obtain an approximately 80% interest in a multi-tiered joint venture structure along with an affiliate of Manager, an affiliate of TPA Group, and our development partner, King Lowry Ventures, for the development of a 79-unit, Class A apartment community in the Roswell submarket of Atlanta, Georgia, to be known as Vickers Village. The acquisition was accounted for as an asset acquisition. Operating Leases The Company’s real estate assets are leased to tenants under operating leases for which the terms and expirations vary. The leases may have provisions to extend the lease agreements, options for early termination after paying a specified penalty and other terms and conditions as negotiated. The Company retains substantially all of the risks and benefits of ownership of the consolidated real estate assets leased to tenants. Generally, upon the execution of a lease, the Company requires security deposits from tenants in the form of a cash deposit. Amounts required as a security deposit vary depending upon the terms of the respective leases and the creditworthiness of the tenant, but generally are not individually significant amounts. Therefore, exposure to credit risk exists to the extent that a receivable from a tenant exceeds the amount of their security deposit. Security deposits received in cash related to tenant leases are included in other liabilities in the accompanying consolidated balance sheets and totaled $2.2 million and $1.3 million as of December 31, 2016 and 2015, respectively, for the Company’s consolidated real estate properties. No individual tenant represents over 10% of the Company’s annualized base rent for the consolidated real estate properties. Depreciation expense Depreciation expense was $23.6 million, $12.4 million and $8.4 million for the years ended December 31, 2016, 2015 and 2014, respectively. Intangible assets and related amortization 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 $7.6 million, $3.8 million and $4.5 million for the years ended December 31, 2016, 2015 and 2014, respectively.

Notes and Interest Receivable d

Notes and Interest Receivable due from Related Party	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Notes And Interest Receivable Due From Related Party Disclosure [Text Block]	Note 6 — Notes and Interest Receivable due from Related Party West Morehead Mezzanine Financing On December 29, 2016, the Company, through BRG Morehead NC, LLC, or BRG Morehead NC, an indirect subsidiary, provided a $21.3 million mezzanine loan, or the BRG West Morehead Mezz Loan, to BR Morehead JV Member, LLC, an affiliate of the Manager, or BR Morehead JV Member. The BRG West Morehead Mezz Loan is secured by BR Morehead JV Member’s approximate 95.0% interest in a multi-tiered joint venture along with Fund II, an affiliate of the Manager, and an affiliate of ArchCo Residential, or the West Morehead JV, which intends to develop an approximately 286-unit Class A apartment community located in Charlotte, North Carolina to be known as West Morehead. The BRG West Morehead Mezz Loan matures on December 29, 2019, and bears interest at a fixed rate of 15.0%. Regular monthly payments are interest-only during the initial term. The BRG West Morehead Mezz Loan can be prepaid without penalty. The Company has the right to exercise an option to purchase, at the greater of a 25 basis point discount to fair market value or 15% internal rate of return for Fund II, up to a 100% common membership interest in BR Morehead JV Member (the mezzanine borrower), which is 99.5% owned by Fund II and which currently holds an approximate 95.0% interest in the West Morehead JV and in the West Morehead property, subject to certain promote rights of our unaffiliated development partner. In addition, on December 29, 2016, the West Morehead property owner, which is owned by an entity in which the Company owns an indirect interest, entered into a $7.3 million mezzanine financing with Nationwide Mutual Fire Insurance Company of which none is outstanding at December 31, 2016, which is secured by membership interest in the joint venture developing the West Morehead property. The loan matures on December 29, 2019, and contains two one-year extension options, subject to certain conditions including a debt service coverage, loan to value ratio, extension of the West Morehead Construction Loan and payment of an extension fee. The loan bears interest at a fixed rate of 11.5%. Regular monthly payments are interest-only. The loan can be prepaid prior to maturity provided the lender receives a cumulative return of 30% of its loan amount including all principal and interest paid.

Investments in Unconsolidated R

Investments in Unconsolidated Real Estate Joint Ventures	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments Disclosure [Text Block]	Property December 31, December 31, Alexan CityCentre $ 7,733 $ 6,505 Alexan Southside Place 17,322 17,322 APOK Townhomes 7,569 — Domain 5,249 3,806 EOS — 3,629 Flagler Village 14,035 5,451 Helios, formerly known as Cheshire Bridge 16,360 16,360 Lake Boone Trail 9,919 9,919 West Morehead 13 — Whetstone 12,932 12,231 Total $ 91,132 $ 75,223 As of December 31, 2016, the Company had outstanding equity investments nine multi-tiered joint ventures, each of which were created to develop a multifamily property. In each case, a wholly-owned subsidiary of the Operating Partnership made a preferred investment in a joint venture, except Flagler Village and APOK Townhomes, which are common interests. The common interests in these joint ventures, as well as preferred interests in some cases, are owned by affiliates of the Manager. In each case, the Company’s preferred equity investment in the joint venture generates a preferred return of 15% on its outstanding capital contributions and the Company is not allocated any of the income or loss in the joint ventures. The joint venture is the controlling member in an entity whose purpose is to develop a multifamily property. Each joint venture in which the Company owns a preferred interest is required to redeem the Company’s preferred membership interests plus any accrued but unpaid preferred return on the earlier of the date which is six months following the maturity of the related development’s construction loan, or any earlier acceleration or due date. Additionally, the Company has the right, in its sole discretion, to convert its preferred membership interest in each joint venture into a common membership interest for a period of six months from the date upon which 70% of the units in the related development have been leased. The following provides additional information regarding the Company’s preferred equity investments and unconsolidated real estate joint ventures as of December 31, 2016. Property December 31, December 31, December 31, Alexan CityCentre $ 1,085 $ 976 $ 388 Alexan Southside Place 2,605 1,996 — APOK Townhomes 226 — — Domain 614 64 — EOS 530 544 230 Flagler Village (6 ) (5 ) — Helios, formerly known as Cheshire Bridge 2,461 1,383 — Lake Boone Trail 1,492 44 Villas at Oak Crest — 489 322 West Morehead 677 — — Whetstone 1,948 1,131 — Other — (32 ) 126 Preferred returns and equity in income of unconsolidated joint venture $ 11,632 $ 6,590 $ 1,066 December 31, December 31, Balance Sheets: Real estate, net of depreciation $ 197,742 $ 132,265 Other assets 33,814 24,737 Total assets $ 231,556 $ 157,002 Mortgage payable $ 97,598 $ 55,066 Other liabilities 13,191 5,018 Total liabilities $ 110,789 $ 60,084 Members’ equity 120,767 96,918 Total liabilities and members’ equity $ 231,556 $ 157,002 Year Ended December 31, 2016 2015 2014 Operating Statements: Rental revenues $ 5,993 $ 2,765 $ 7,214 Operating expenses (3,101 ) (2,776 ) (3,190 ) Income (loss) before debt service, acquisition costs, and depreciation and amortization 2,892 (11 ) 4,024 Interest expense, net (1,409 ) (756 ) (1,648 ) Acquisition costs (3 ) (66 ) (2 ) Depreciation and amortization (2,881 ) (2,009 ) (1,970 ) Operating (loss) income (1,401 ) (2,842 ) 404 Gain on sale 16,733 29,200 2,498 Net income $ 15,332 $ 26,358 $ 2,902 Alexan CityCentre Interests On July 1, 2014, through BRG T&C BLVD Houston, LLC, a wholly-owned subsidiary of the Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture along with Bluerock Growth Fund (“BGF”), Bluerock Special Opportunity + Income Fund II, LLC, (“Fund II”) and Bluerock Special Opportunity + Income Fund III, LLC (“Fund III”), affiliates of the Manager, and an affiliate of Trammell Crowe Residential, to develop a 340-unit Class A apartment community located in Houston, Texas, to be known as Alexan CityCentre. The Company has made a capital commitment of approximately $7.7 million to acquire 100% of the Class A preferred equity interests in BR T&C BLVD JV Member, LLC all of which has been funded as of December 31, 2016 (of which $1.2 million earns a 20% preferred return). On June 7, 2016, the Alexan CityCentre property owner, which is owned by an entity in which the Company owns an indirect interest, entered into a loan modification agreement to amend the terms of its construction loan financing the construction and development of the Alexan CityCentre property (the “Alexan Development”). The maximum principal amount available to the borrower under the terms of the modified loan is $55.1 million of which approximately $25.4 million is outstanding at December 31, 2016. The maturity date is January 1, 2020, subject to a single one-year extension exercisable at the option of the borrower. The interest rate on the loan is a variable per annum rate equal to the prime rate plus 0.5%, or LIBOR plus 3.00%, at the borrower’s option. The loan requires monthly interest payments until the maturity date, after which $60,000 monthly payments of principal will be required in addition to payment of accrued interest during the maturity extension period. The borrower was required to initially fund approximately $2.6 million as an interest reserve and approximately $0.6 million as an operating deficit reserve. Certain unaffiliated third parties agreed to guaranty the completion of the development of the Alexan Development and provided partial guaranties of the borrower’s principal and interest obligations under the loan. The borrower is required to complete the Alexan Development by December 31, 2017 (without extension for any reason). To obtain the loan modification, the borrower was required to contribute additional equity for the Alexan Development in the amount of approximately $2.2 million to be applied to development costs, of which the Company funded approximately $0.7 million and Bluerock Growth Fund II (“BGF II”), an affiliate of the Manager, funded $1.3 million as Class B preferred interests earning a 20% preferred return. Alexan Southside Place 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 270-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-year ground lease. The Company has made a capital commitment of $17.3 million to acquire 100% of the preferred equity interests in BRG Southside, LLC, all of which has been funded as of December 31, 2016. In conjunction with the Alexan Southside development, on April 7, 2015, the Alexan Southside leasehold interest holder, which is owned by an entity in which the Company owns an indirect interest, entered into a $31.8 million construction loan with Bank of America, NA of which $0.01 million is outstanding at December 31, 2016, which is secured by the leasehold interest in the Alexan Southside Place property. The loan matures on April 7, 2019, and contains a one-year extension option, subject to certain conditions including a debt service coverage, loan to value ratio and payment of an extension fee. The loan bears interest on a floating basis on the amount drawn based on the base rate plus 1.25% or LIBOR plus 2.25%. Regular monthly payments are interest-only during the initial term, with payments during the extension period based on a thirty-year amortization. The loan can be prepaid without penalty. APOK Townhomes Interests On September 1, 2016, through BRG Boca, LLC, or BRG Boca, a wholly-owned subsidiary of its Operating Partnership, the Company made an investment in a multi-tiered joint venture, along with Fund II, an affiliate of the Manager, and NCC Development Group, or the Boca JV, to develop a 90-unit Class A apartment community located in Boca Raton, Florida to be known as APOK Townhomes. The Company made a capital commitment of approximately $11.2 million to acquire common interests in BR Boca JV Member, LLC, or BR Boca JV Member, of which $7.3 million has been funded as of December 31, 2016. In conjunction with the APOK Townhomes development, on December 29, 2016, the APOK Townhomes property owner, which is owned by an entity in which the Company owns an indirect interest, entered into a $18.7 million construction loan with Florida Community Bank of which none is outstanding at December 31, 2016, which is secured by the APOK Townhomes property. The loan matures on June 29, 2019, and contains two one-year extension option, subject to certain conditions including a debt service coverage, stabilized occupancy and payment of an extension fee. The loan requires interest-only payments at prime plus 0.625%, subject to a floor of 4.125%. The loan can be prepaid without penalty. Domain Phase 1 Interests On November 20, 2015, through a wholly-owned subsidiary of the Operating Partnership, BRG Domain Phase 1, LLC, the Company made a convertible preferred equity investment in a multi-tiered joint venture along with Fund II, an affiliate of the Manager, and an affiliate of ArchCo Residential, to develop an approximately 299-unit, class A, apartment community located in Garland, Texas. The property will be developed upon a tract of approximately 10 acres of land. The Company has made a capital commitment of $24.4 million to acquire 100% of the preferred equity interests in BR Member Domain Phase I, LLC, of which $5.2 million has been funded at December 31, 2016. EOS Interests On July 29, 2014, through BRG UCFP Investor, LLC, a wholly-owned subsidiary of the Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture along with Bluerock Special Opportunity + Income Fund I, LLC (“Fund I”), an affiliate of the Manager, and CDP UCFP Developer, LLC, to develop a 296-unit Class A apartment community located in Orlando, Florida, to be known as EOS. The Company made a capital commitment of approximately $3.6 million to acquire 100% of the Class A preferred equity interests in BR Orlando UCFP, LLC all of which had been funded as of November 10, 2016. In conjunction with the EOS development, on May 14, 2014, an indirect unconsolidated subsidiary, entered into a $27.5 million construction loan with KeyBank National Association which is secured by the EOS property, of which approximately $27.0 million is outstanding at November 10, 2016. The loan was scheduled to mature on May 14, 2017, and contained two one-year extension options, subject to certain conditions including a debt service coverage, loan to value ratio and payment of an extension fee. The loan bore interest on a floating basis on the amount drawn based on one-month LIBOR plus 2.15%. Regular monthly payments were interest-only during the initial term, with payments during the extension period based on a thirty-year amortization. The loan could be prepaid without penalty. On November 10, 2016, through an indirect subsidiary of the Operating Partnership, the Company converted its $3.6 million preferred equity investment in the joint venture into a 31% common investment. The Company recognized a $3.8 million gain on the conversion based on the estimated fair market value of the joint venture, which was based on the anticipated sale price of the underlying property that was under a sales contract which sale closed on December 19, 2016. In addition, an unaffiliated joint venture partner’s interest was purchased for $4.2 million in conjunction with the sale and 49.9% of Fund I interest was purchased for $8.2 million. The underlying property was sold for $52.0 million, subject to certain prorations and adjustments typical in such transactions. After deductions for the existing construction loan encumbering the EOS property in the amount of $27.0 million and payment of closing costs and fees of $0.9 million, and buyout of the joint venture partners, the sale of the underlying property generated proceeds of approximately $5.1 million to the Company for its proportionate ownership of the underlying joint venture. Flagler Village Interests On December 18, 2015, through BRG Flagler Village, LLC, a wholly-owned subsidiary of the Operating Partnership, BRG Flagler Village, LLC, the Company made an investment in a multi-tiered joint venture along with Fund II, an affiliate of the Manager, and an affiliate of ArchCo Residential, to develop an approximately 384-unit, Class A apartment community located in Ft. Lauderdale, Florida. The Company has made a capital commitment of $58.2 million to acquire common interests in BR Flagler Village, LLC, of which $14.0 million has been funded at December 31, 2016. Helios, formerly known as 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 $16.4 million to acquire 100% of the preferred equity interests in BRG Cheshire, LLC, all of which has been funded as of December 31, 2016. In conjunction with the Cheshire Bridge development, on December 16, 2015, the Helios property owner, which is owned by an entity in which the Company owns an indirect interest, entered into a $38.1 million construction loan with The PrivateBank and Trust Company which is secured by the fee simple interest in the Cheshire property, of which approximately $13.8 million is outstanding at December 31, 2016. The loan matures on December 16, 2018, and contains two one-year extension options, subject to certain conditions including a debt service coverage, loan to value ratio and payment of an extension fee. The loan bears interest on a floating basis on the amount drawn based on one-month LIBOR plus 2.50%. Regular monthly payments are interest-only during the initial term, with payments during the extension period based on a thirty-year amortization. The loan can be prepaid without penalty. Lake Boone Trail Interests On December 18, 2015, through BRG Lake Boone, LLC, a wholly-owned subsidiary of the Operating Partnership, BRG Lake Boone, LLC, the Company made a convertible preferred equity investment in a multi-tiered joint venture along with Fund II, an affiliate of the Manager, and an affiliate of Tribridge Residential, LLC, to develop an approximately 245-unit, Class A apartment community located in Raleigh, North Carolina, or Lake Boone Trail. The Company has made a capital commitment of $12.3 million to acquire 100% of the preferred equity interests in BR Lake Boone, LLC, of which $9.9 million has been funded at December 31, 2016. In conjunction with the Lake Boone Trail development, on June 23, 2016, the Lake Boone property owner, which is owned by an entity in which the Company owns an indirect interest, entered into a $25.2 million construction loan with Citizens Bank, National Association which is secured by the fee simple interest in the Lake Boone Trail property, of which none is outstanding as of December 31, 2016. The loan matures on December 23, 2019, and contains one extension option for one year to five years, subject to certain conditions including construction completion, a debt service coverage, loan to value ratio and payment of an extension fee. The loan bears interest on a floating basis on the amount drawn based on one-month LIBOR plus 2.65%. Regular monthly payments are interest-only during the initial term, with payments during the extension period based on a thirty-year amortization. The loan can be prepaid without penalty. West Morehead Interests On January 6, 2016, through BRG Morehead NC, LLC, or BRG Morehead NC, a wholly-owned subsidiary of the Operating Partnership, the Company made a convertible preferred equity investment in a multi-tiered joint venture along with Fund II, an affiliate of the Manager, and an affiliate of ArchCo Residential, or the West Morehead JV, to develop an approximately 286-unit Class A apartment community located in Charlotte, North Carolina to be known as West Morehead. The Company made a capital commitment of approximately $24.7 million to acquire 100% of the preferred equity interests in BR Morehead JV Member, LLC, or BR Morehead JV Member, of which $6.5 million had been funded as of December 29, 2016. On December 29, 2016, (i) Fund II redeemed the preferred equity investment held by BRG Morehead NC in BR Morehead JV Member for $6.5 million, (ii) BRG Morehead NC obtained a 0.5% common interest in BR Morehead JV Member, and (iii) the Company, through BRG Morehead NC, provided a mezzanine loan in the amount of $21.3 million to BR Morehead JV Member, or the BRG West Morehead Mezz Loan. See Note 6 for further details regarding the or the BRG West Morehead Mezz Loan. 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 $12.9 million to acquire 100% of the preferred equity interests in BRG Whetstone Durham, LLC, all of which has been funded as of December 31, 2016 (of which $0.7 million earns a 20% preferred return). On October 6, 2016, the Company entered into an agreement that provided for an extended twelve-month period in which it had a right to convert into common ownership. If the Company does not elect to convert into common ownership at that point, its preferred return would then decrease to 6.5%. The acquisition of Whetstone Apartments was initially partially funded by a bridge loan of approximately $25.2 million secured by the Whetstone Apartment property all of which was outstanding at September 30, 2016. Subsequent to September 30, 2016, the bridge loan was paid off by entering into a mortgage loan of approximately $26.5 million secured by the Whetstone Apartment property. The loan matures on November 1, 2023. The loan bears interest at a fixed rate of 3.81%. Regular monthly payments are interest-only until November 1, 2017, with monthly payments beginning December 1, 2017 based on thirty-year amortization. The loan may be prepaid with the greater of 1% prepayment fee or yield maintenance until October 31, 2021, and thereafter at par. The loan is nonrecourse to the Company and its joint venture partners with certain standard scope non-recourse carve-outs for certain deeds, acts or failures to act on the part of the Company and the joint venture partners. KeyBank Land Loan On March 15, 2016, the Company and several affiliated unconsolidated borrowers entered into an approximately $14.9 million secured credit facility with KeyBank as lender (the “Credit Facility”), which is secured by the Domain and Flagler properties. The loan matures March 14, 2017 and contains a six-month extension option, subject to certain conditions, including a maximum principal balance outstanding of $6.5 million. The borrowings under the Credit Facility are at a rate equal to LIBOR plus 3.75% or the base rate plus 2.75%, at the Company’s option. Our Operating Partnership’s obligations with respect to the Credit Facility are guaranteed by us, pursuant to the terms of a limited recourse guaranty dated as of March 15, 2016. The outstanding Credit Facility balance at December 31, 2016, was $7.9 million. The loan balance at December 31, 2016, has been allocated as follows, Domain, approximately $1.9 million and Flagler, approximately $6.0 million; which amounts are reflected on the unconsolidated entities’ financial statements. The Company has provided notice to exercise the six-month extension option.

Mortgages Payable

Mortgages Payable	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Mortgage Notes Payable Disclosure [Text Block]	Note 8 — Mortgages Payable The following table summarizes certain information as of December 31, 2016 and 2015, with respect to the Company’s indebtedness (amounts in thousan ds). Outstanding Principal As of December 31, 2016 Property December 31, December 31, Interest Fixed/Floating Maturity Date ARIUM at Palmer Ranch $ 26,925 $ — 2.79 % Floating (1) February 1, 2023 ARIUM Grandewood 34,294 29,444 2.45 % Floating (2) December 1, 2024 ARIUM Gulfshore 32,626 — 2.79 % Floating (3) February 1, 2023 ARIUM Palms 24,999 24,999 2.84 % Floating (4) September 1, 2022 ARIUM Pine Lakes 26,950 — 3.95 % Fixed November 1, 2023 ARIUM Westside 52,150 — 3.68 % Fixed August 1, 2023 Ashton I 31,900 31,900 4.67 % Fixed December 1, 2025 Ashton II 15,270 15,270 3.24 % Floating (5) January 1, 2026 Enders Place at Baldwin Park (6) 24,732 25,155 4.30 % Fixed November 1, 2022 Fox Hill 26,705 26,705 3.57 % Fixed April 1, 2022 Lansbrook Village 57,190 43,628 3.06 % Floating (7) August 1, 2026 Legacy at Southpark 26,500 — 4.35 % Fixed January 1, 2024 MDA Apartments 37,124 37,600 5.35 % Fixed January 1, 2023 Nevadan 48,431 — 3.10 % Floating (9) November 1, 2023 Park & Kingston (8) 18,432 15,250 3.41 % Fixed April 1, 2020 Roswell City Walk 51,000 — 3.63 % Fixed December 1, 2026 Sorrel 38,684 38,684 2.91 % Floating (10) May 1, 2023 Sovereign 28,880 28,880 3.46 % Fixed November 10, 2022 Springhouse at Newport News — 22,176 The Brodie 34,825 — 3.71 % Fixed December 1, 2023 The Preserve at Henderson Beach 36,989 — 4.65 % Fixed January 5, 2023 Village Green of Ann Arbor 41,547 42,326 3.92 % Fixed October 1, 2022 Total 716,153 382,017 Fair value adjustments 1,364 1,620 Deferred financing costs, net (6,942 ) (3,535 ) Total mortgages payable 710,575 380,102 (1) ARIUM at Palmer Ranch loan bears interest at a floating rate of 2.17% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.79%. (2) ARIUM Grandewood principal balance includes the initial advance of $29.44 million at a floating rate of 1.67% plus one month LIBOR and a $4.85 million supplemental loan at a floating rate of 2.74% plus one month LIBOR. At December 31, 2016, the interest rates on the initial advance and supplemental loan were 2.29% and 3.36%, respectively. (3) ARIUM Gulfshore loan bears interest at a floating rate of 2.17% plus one month LIBOR. At December 31, 2016, the interest rate was 2.79%. (4) ARIUM Palms loan bears interest at a floating rate of 2.22% plus one month LIBOR. At December 31, 2016, the interest rate was 2.84%. (5) Ashton Reserve II loan bears interest at a floating rate of 2.62% plus one-month LIBOR. At December 31, 2016, the interest rate was 3.24%. (6) The principal includes a $16.8 million loan at a fixed rate of 3.97% and a $7.9 million supplemental loan at a fixed rate of 5.01%. (7) Lansbrook Village loan bears interest at a floating rate of 2.44% plus one month LIBOR. At December 31, 2016, the interest rate was 3.06%. (8) The principal includes a $15.3 million loan at a fixed rate of 3.21% and a $3.2 million supplemental loan at a fixed rate of 4.34%. (9) Nevadan loan bears interest at a floating rate of 2.48% plus one month LIBOR. At December 31, 2016, the interest rate was 3.10% (10) Sorrel loan bears interest at a floating rate of 2.29% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.91%. Costs incurred in obtaining long-term financing, reflected as a reduction of Mortgages Payable in the accompanying Consolidated Balance Sheets, are amortized on a straight-line basis, which approximates the effective interest method, over the terms of the related debt agreements, as applicable. Amortization of deferred financing costs was $1.3 million, $0.5 million, and $0.4 million for the years ended December 31, 2016, 2015 and 2014, respectively. Fair value adjustments of debt The Company records a fair value adjustment based upon the fair value of the loans on the date they were assumed in conjunction with acquisitions. The fair value adjustments are being amortized to interest expense over the remaining life of the loans. Amortization of fair value adjustments was $0.4 million, $0.3 million, and $0.3 million for the years ended December 31, 2016, 2015 and 2014, respectively. ARIUM Gulfshore Mortgage Payable On January 5, 2016, the Company, through an indirect subsidiary, entered into an approximately $32.6 million loan which is secured by ARIUM Gulfshore. The loan matures February 1, 2023 and bears interest on a floating basis based on LIBOR plus 2.17%, with interest only payments until maturity. After January 5, 2017 the loan may be prepaid with a 1% prepayment fee through October 31, 2022, and thereafter at par. ARIUM at Palmer Ranch Mortgage Payable On January 5, 2016, the Company, through an indirect subsidiary, entered into an approximately $26.9 million loan which is secured by ARIUM at Palmer Ranch. The loan matures February 1, 2023 and bears interest on a floating basis based on LIBOR plus 2.17%, with interest only payments until maturity. After January 5, 2017 the loan may be prepaid with a 1% prepayment fee through October 31, 2022, and thereafter at par. The Preserve at Henderson Beach Mortgage Payable On March 15, 2016, the Company, through an indirect subsidiary, assumed an approximately $37.5 million loan which is secured by Henderson Beach. The loan matures January 5, 2023 and bears interest at a fixed rate of 4.65%, with fixed monthly payments based on 30-year amortization. The loan may be prepaid with the greater of 1% prepayment fee or yield maintenance. Park & Kingston Mortgage Payable On May 27, 2016, the Company, through an indirect subsidiary, entered into an additional loan of approximately $3.2 million loan which is secured by 15-units of Park & Kingston. The loan matures April 1, 2020 and bears interest at a fixed rate of 4.34%, with interest only payments until maturity. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until September 30, 2019, and thereafter at par. Refinancing of Lansbrook Village On July 8, 2016, the Company, through an indirect subsidiary, entered into an approximately $57.2 million loan which is secured by Lansbrook Village, and paid off the previous loans of $44.4 million plus prepayment costs of approximately $0.9 million. The loan matures August 1, 2026 and bears interest on a floating basis based on LIBOR plus 2.44%, with interest only payments until August 1, 2020, and thereafter will require principal and interest payments until maturity. After July 8, 2017 the loan may be prepaid with a 1% prepayment fee through March 31, 2026, and thereafter at par. ARIUM Westside Mortgage Payable On July 14, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $52.2 million senior mortgage loan which is secured by the ARIUM Westside leasehold interest. The loan matures August 1, 2023 and bears interest at a rate of 3.68%, with interest only payments until August 31, 2021, with future payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until July 31, 2021, and thereafter at par. Supplemental Financing at ARIUM Grandewood On August 30, 2016, the Company, through an indirect subsidiary, entered into an additional loan of approximately $4.9 million loan which is secured by ARIUM Grandewood. The loan matures December 1, 2024 and bears interest at a floating basis based on LIBOR plus 2.74%, with interest only payments until maturity. After September 1, 2017, the loan can be prepaid with a 1% prepayment fee until July 31, 2024, and thereafter at par. Nevadan Mortgage Payable On October 13, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $48.4 million senior mortgage loan secured by the Nevadan Apartments property and improvements. The loan matures November 1, 2023 and bears interest on a floating basis on the amount drawn based on LIBOR plus 2.48%, capped at 5.50%. Regular monthly payments are interest-only to November 1, 2019, with future payments based on 30-year amortization. After October 31, 2017, the loan can be prepaid with a 1% prepayment fee until July 31, 2023, and thereafter at par. ARIUM Pine Lakes Mortgage Payable On October 31, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $27.0 million senior mortgage loan secured by ARIUM Pine Lakes. The loan matures November 1, 2023 and bears interest at a fixed interest rate of 3.95%. Regular monthly payments are interest-only. After October 31, 2018, the loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until May 1, 2023, and thereafter at par. The Brodie Mortgage Payable On November 10, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $34.8 million senior mortgage loan secured by The Brodie. The loan matures December 1, 2023 and bears interest at a fixed interest rate of 3.71%, with interest only payments until December 31, 2018, and thereafter will require principal and interest payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until May 31, 2023, and thereafter at par. Roswell City Walk Mortgage Payable On December 1, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $51.0 million senior mortgage loan secured by Roswell City Walk. The loan matures December 1, 2026 and bears interest at a fixed interest rate of 3.63%. Fixed monthly principal and interest payments are based on 30-year amortization. After December 1, 2021 the loan may be prepaid with the greater of yield maintenance or a 1% prepayment fee through July 31, 2026, and thereafter at par. Legacy at Southpark Mortgage Payable On December 15, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $26.5 million senior mortgage loan which is secured by the Legacy at Southpark. The loan matures January 1, 2024 and bears interest at a rate of 4.35%, with interest only payments until January 31, 2019, with future payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until June 30, 2023, and thereafter at par. Crescent Perimeter Construction Loan On December 12, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $44.7 million construction loan which is secured by the Crescent Perimeter development. No amounts have been borrowed as of December 31, 2016. The loan matures December 12, 2020, with a one-year extension option subject to certain conditions including a debt service coverage, loan to value ratio and payment of an extension fee. The loan bears interest at a rate of LIBOR plus 3.00%, with interest only payments until December 12, 2020, with future payments based on 30-year amortization. The loan can be prepaid without penalty. Vickers Village Construction Loan On December 22, 2016, the Company, through joint venture subsidiaries of its Operating Partnership, entered into an approximately $18.0 million construction loan which is secured by the Vickers Village development. No amounts have been borrowed as of December 31, 2016. The loan matures December 1, 2020. The loan bears interest at a rate of LIBOR plus 3.00%, with interest only payments until December 1, 2018, with future payments based on 25-year amortization. The loan can be prepaid without penalty. Year Total 2017 $ 3,071 2018 3,648 2019 5,655 2020 27,693 2021 10,692 Thereafter 665,394 $ 716,153 Add: Unamortized fair value debt adjustment 1,364 Subtract: Deferred financing costs (6,942 ) Total $ 710,575 The net book value of real estate assets providing collateral for these above borrowings was $987.1 million as of December 31, 2016. The mortgage loans encumbering the Company’s properties are generally nonrecourse, subject to certain exceptions for which the Company would be liable for any resulting losses incurred by the lender. These exceptions vary from loan to loan but generally include fraud or a material misrepresentation, misstatement or omission by the borrower, intentional or grossly negligent conduct by the borrower that harms the property or results in a loss to the lender, filing of a bankruptcy petition by the borrower, either directly or indirectly and certain environmental liabilities. In addition, upon the occurrence of certain events, such as fraud or filing of a bankruptcy petition by the borrower, the Company or our joint ventures would be liable for the entire outstanding balance of the loan, all interest accrued thereon and certain other costs, including penalties and expenses.

Fair Value of Financial Instrum

Fair Value of Financial Instruments	12 Months Ended
	Dec. 31, 2016
Fair Value Disclosures [Abstract]
Fair Value Disclosures [Text Block]	Note 9 — Fair Value of Financial Instruments As of December 31, 2016 and 2015, 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. Based on the discounted amount of future cash flows currently available to the Company for similar liabilities, the fair value of the Company’s mortgages payable is estimated at $714.8 million and $387.1 million as of December 31, 2016 and 2015, respectively, compared to the carrying amounts, before adjustments for deferred financing costs, net, of $717.5 million and $383.6 million as of December 31, 2016 and 2015, respectively. The fair value of mortgages payable is estimated based on the Company’s current interest rates (Level 3 inputs, as defined in ASC Topic 820, “Fair Value Measurement”) for similar types of borrowing arrangements.

Related Party Transactions

Related Party Transactions	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Related Party Transactions Disclosure [Text Block]	Note 10 — Related Party Transactions 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 the Villas at Oak Crest, which was accounted for under the equity method, and Springhouse, in which the Company already owned an interest and which had been reported as consolidated for the periods presented). As holders of shares of the Company’s Class A common stock issued in the contribution transactions in connection with the IPO, Fund II and Fund III and their respective managers have certain registration rights covering the resale of their shares of Class A common stock. In addition, BR-NPT Springing Entity, LLC (“NPT”) and Bluerock Property Management, LLC, the property manager of North Park Towers (“BPM”), as holders of OP Units issued in the contribution transactions, and the Manager and the former advisor, as holders of LTIP Units, have certain registration rights covering the resale of shares of the Class A common stock issued or issuable, at the Company’s option, in exchange for OP Units, including OP Units into which LTIP Units may be converted. On January 13, 2016, the Company filed, and on January 29, 2016, the SEC declared effective, a resale registration statement on Form S-3 (File No. 333-208988) (the “Resale Registration Statement”) with respect to the resale of their shares of Class A common stock, including the Class A common stock issued or issuable, at the Company’s option, in exchange for OP Units, including OP Units into which LTIP Units may be converted. The Company entered into a 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, 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 is dependent on its Manager to provide these services that are essential to the Company. 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. The Company pays the Manager a base management fee in an amount equal to the sum of: (A) 0.25% of the Company’s stockholders’ existing and contributed equity prior to the IPO and in connection with our contribution transactions, per annum, calculated quarterly based on the Company’s stockholders’ existing and contributed equity for the most recently completed calendar quarter and payable in quarterly installments in arrears, and (B) 1.5% of the equity per annum of the Company’s stockholders who purchase shares of the Company’s stock, calculated quarterly based on their equity for the most recently completed calendar quarter and payable in quarterly installments in arrears. The base management fee is payable independent of the performance of the Company’s investments. The Company amended the Management Agreement to provide that the base management fee can be payable in cash or LTIP Units, at the election of the Board. The number of LTIP Units issued for the base management fee or incentive fee will be based on the fees earned divided by the 5-day trailing average Class A common stock price prior to issuance. Base management fees for the Manager of $6.4 million, $3.3 million and $0.7 million were expensed for the years ended December 31, 2016, 2015 and 2014. Base management fees of $1.2 million were expensed during the three months ended March 31, 2016, which were paid through the issuance of 108,045 LTIP Units on May 10, 2016. Base management fees of $1.4 million were expensed during the three months ended June 30, 2016, which were paid through the issuance of 105,036 LTIP Units on August 9, 2016. Base management fees of $1.7 million were expensed during the three months ended September 30, 2016, which were paid through the issuance of 139,321 LTIP Units on November 11, 2016. Base management fees of $2.0 million were expensed during the three months ended December 31, 2016, which will be paid through the issuance of approximately 146,865 LTIP Units assuming the $13.72 closing share price for the Company’s Class A common stock on December 31, 2016. The actual number of LTIP Units to be issued in payment of the base management fees for the three months ended December 31, 2016 is subject to change based on the average closing share price of the Company’s Class A common stock on the five business days prior to the date of issuance. 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% and (y) the difference between (i) the Company’s adjusted funds from operations (“AFFO”), for the previous 12-month period, and (ii) the product of (A) the weighted average of the issue price of equity securities issued in the IPO and in future offerings and transactions, multiplied by the weighted average number of all shares of the Company’s Class A common stock outstanding on a fully-diluted basis (including any restricted stock units, any restricted shares of Class A common stock, LTIP Units, and other shares of common stock underlying awards granted under the Incentive Plans and OP Units) in the previous 12-month period, exclusive of equity securities issued prior to the IPO or in the contribution transactions, and (B) 8%, and (2) the sum of any incentive fee paid to the Manager with respect to the first three calendar quarters of such previous 12-month period; provided, however, that no incentive fee is payable with respect to any calendar quarter unless AFFO is greater than zero for the four most recently completed calendar quarters, or the number of completed calendar quarters since the closing date of the IPO, whichever is less. For purposes of calculating the incentive fee during the first 12 months after completion of the IPO, AFFO will be determined by annualizing the applicable period following completion of the IPO. One half of each quarterly installment of the incentive fee will be payable in LTIP Units, calculated pursuant to the formula above. The remainder of the incentive fee will be payable in cash or in LTIP Units, at the election of the Board, in each case calculated pursuant to the formula above. Incentive management fees for the Manager of $0.2 million, $0.9 million and $0.15 million were expensed for the years ended December 31, 2016, 2015 and 2014. Incentive fees of $0.15 million for the three months ended September 30, 2016 were paid through the issuance of approximately 12,679 LTIP Units on November 11, 2016. Management fee expense of $0.4 million, $0.9 million and $1.0 million, was recorded as part of general and administrative expenses for the years ended December 31, 2016, 2015 and 2014, respectively, related to the vesting of 179,562 LTIP Units granted in connection with the IPO. The expense recognized during 2016, 2015 and 2014 was based on the Class A common stock closing price at the vesting date or end of the period, as applicable. These LTIP Units vest over a three-year period that began in April 2014, with 59,854 LTIP Units vested on April 30, 2015 and 59,854 LTIP Units vested on April 30, 2016. On July 2, 2015, the Company issued a grant of LTIP Units under the Amended 2014 Incentive Plans to the Manager. The equity grant consisted of 283,390 LTIP Units (the “2015 LTIP Units”). The 2015 LTIP Units will vest ratably over a three-year period that began in July 2015, subject to certain terms and conditions. On August 3, 2016, the Company issued a grant of LTIP Units under the Amended 2014 Incentive Plans to the Manager. The equity grant consisted of 176,610 LTIP Units (the “2016 LTIP Units”). The 2016 LTIP Units will vest ratably over a three-year period that began in August 2016, subject to certain terms and conditions. These LTIP Units may be convertible into OP Units under certain conditions and then may be settled in shares of the Company’s Class A common stock. LTIP expense of $2.4 million and $1.0 million was recorded as part of general and administrative expenses for the years ended December 31, 2016 and 2015 respectively, related to the 2015 LTIP Units and the 2016 LTIP Units. The expense recognized during 2016 and 2015 was based on the Class A common stock closing price at the vesting date or the end of the period, as applicable. 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 through the six months ended June 30, 2015. Reimbursements of $0.3 million were expensed during the six months ended December 31, 2015 and are recorded as part of general and administrative expenses. Reimbursements of $0.6 million were expensed during the year ended December 31, 2016, and are recorded as part of general and administrative expenses. 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 million, the Board may, but is not obligated to, internalize the Company’s management. The Manager may terminate the Management Agreement if it becomes required to register as an investment company under the Investment Company Act, with such termination deemed to occur immediately before such event, in which case the Company would not be required to pay a termination fee. In addition, if the Company defaults in the performance of any material term of the Management Agreement and the default continues for a period of 30 days after written notice to the Company, the Manager may terminate the Management Agreement upon 60 days’ written notice. If the Management Agreement is terminated by the Manager upon a breach by the Company, the Company is required to pay the Manager the termination fee described above. 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. 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 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 million. Effective on September 4, 2015, the Former Advisor and Manager entered into an Assignment Agreement pursuant to which the Former Advisor assigned its right to payment of the obligation due to the Former Advisor to the Manager. The Manager agreed to receive the payment entirely in LTIP Units of the Operating Partnership. The obligation was paid by the number of LTIP Units equal to (i) the dollar amount of the obligation payable in such LTIP Units (calculated as $1.18 million), divided by (ii) the average of the closing prices of the Company’s Class A common stock, $0.01 par value per share, on the NYSE MKT on the five business days prior to the issuance date. The payment was made through the issuance of 108,119 LTIP Units by the Operating Partnership to the Manager on the September 14, 2015. The LTIP Units were fully vested upon issuance, and may convert to OP Units upon reaching capital account equivalency with the OP Units held by the Company, and may then be settled in shares of the Company’s Class A common stock. The Manager will be entitled to receive “distribution equivalents” with respect to the LTIP Units at the same time distributions are paid to the holders of the Company’s Class A common stock. Selling Commissions and Dealer Manager Fees In conjunction with the offering of the Series B Preferred Stock, the Company engaged a related party, as dealer manager, and pays up to 10% of the gross offering proceeds from the offering as selling commissions and dealer manager fees. The dealer manager may re-allow the selling commissions and dealer manager fees to participating broker-dealers, and is expected to incur costs in excess of the 10%, which costs will be borne by the dealer manager. As of December 31, 2016, the Company has incurred $1.5 million and $0.6 million, in selling commissions and dealer manager fees, respectively. In addition, BRG Manager was reimbursed for offering costs in conjunction with the Series B Preferred Offering of $0.13 million during the year ended December 31, 2016, which were recorded as a reduction to the proceeds of the offering. 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 the Company 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. December 31, December 31, Amounts Payable to the Manager under the Management Agreement Base management fee 2,015 1,133 Operating expense reimbursements and direct expense reimbursements 274 218 Offering expense reimbursements 120 — Total amounts payable to Manager $ 2,409 $ 1,351 As of December 31, 2016 and 2015, the Company had none and $0.1 million, respectively, in payables due to related parties other than our Manager and Former Advisor. As of December 31, 2016 and 2015, the Company had $0.9 million and $0.9 million, respectively, in receivables due to us from related parties other than our Manager primarily for accrued preferred returns from the prior month. Other Related Party Transactions In May 2015, the Company invested an additional $6.5 million, plus customary prorations, in equity in Park & Kingston, increasing the Company’s indirect ownership interest in the property from 46.95% to approximately 96.0%. The additional interests were purchased from Fund III, an affiliate of our Manager, based on the original purchase price on a pro rata basis, plus customary prorations. In May 2015, the Company invested an additional $1.1 million, plus customary prorations, in equity in Fox Hill, increasing the Company’s indirect ownership interest in the property from 85.27% to approximately 94.62%. The additional interests were purchased from Fund III, an affiliate of our Manager, based on the original purchase price on a pro rata basis, plus customary prorations. In December 2015, the Company invested an additional $3.7 million, plus customary prorations, in equity in Lansbrook, increasing the Company’s indirect ownership interest in the property from 76.8% to approximately 90.00%. The additional interests were purchased from Fund II and Fund III, affiliates of our Manager, based on an appraisal value, plus customary prorations. In December 2015, in conjunction with the sale of Villas at Oak Crest, two former joint venture partners, who were related to the Company’s Chief Executive Officer, converted their ownership in Villas at Oak Crest into 22,809 Operating Partnership Units. See Note 7 for a discussion of EOS related party transactions. Preferred Equity Investments and Investments in Unconsolidated Real Estate Joint Ventures The Company invests with related parties in various joint ventures in which the Company owns either preferred or common interests. Please refer to Note 7 for further information. Notes and interest receivable from related party The Company provided a mezzanine loan to a related party in conjunction with the development of a multifamily community. Please refer to Note 6 and 7 for further information. Bluerock Property Management, LLC The Company incurred $0.1 million and $0.1 million in property management fees to Bluerock Property Management, LLC, an affiliate of the Company, on behalf of the North Park Towers property during the years ended December 31, 2015 and 2014, respectively. No property management fees were payable in 2016 due to the sale of North Park Towers in October 2015.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2016
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. The following table reconciles the components of basic and diluted net loss (income) per common share (amounts in thousands, except share and per share amounts): Year Ended December 31, 2016 2015 2014 (In thousands, except per share data) Income (loss) from continuing operations $ (2,974 ) $ 7,643 $ (6,674 ) Net (income) loss from continuing operations attributable to noncontrolling interest (1,355 ) (5,855 ) 1,386 Preferred share dividends and accretion (14,656 ) (1,153 ) — Dividends on restricted stock expected to vest (4 ) (16 ) (7 ) Income (loss) from continuing operations attributable to BRG $ (18,989 ) $ 619 $ (5,295 ) Income from discontinued operations — — 116 Income from discontinued operations attributable to BRG — — 116 Net income (loss) attributable to common stockholders $ (18,989 ) $ 619 $ (5,179 ) Weighted average shares outstanding, basic (1) 20,805,852 17,404,348 5,381,787 Potential dilutive shares (2) — 12,850 — Weighted average shares outstanding, diluted (1) 20,805,852 17,417,198 5,381,787 Earnings (loss) per common share, basic Continuing operations $ (0.91 ) $ 0.04 $ (0.98 ) Discontinued operations — — 0.02 $ (0.91 ) $ 0.04 $ (0.96 ) Earnings (loss) per common share, diluted Continuing operations $ (0.91 ) $ 0.04 $ (0.98 ) Discontinued operations — — 0.02 $ (0.91 ) $ 0.04 $ (0.96 ) The number of shares and per share amounts for 2014 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 2016, amounts relate to shares of the Company’s Class A and B-3 common stock and LTIP Units outstanding. For 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, and B-3 common stock and LTIP Units outstanding. (2) Excludes 4,282 shares of common stock for the year ended December 31, 2016, related to non-vested restricted stock, as the effect would be anti-dilutive. Excludes 5,280 shares of Class B common stock for the year ended December 31, 2014 related to non-vested restricted stock, as the effect would be anti-dilutive. 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 million in gross proceeds through its continuous registered offering, including its distribution reinvestment plan. 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 Securities and Exchange Commission (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 shares of Class A common stock at a public offering price of $14.50 per share for total gross proceeds of $50.0 million. The net proceeds of the IPO, which closed on April 2, 2014, were approximately $44.0 million after deducting underwriting discounts and commissions and offering costs. The Company listed its Class A common stock on the NYSE MKT on March 28, 2014. In connection with the IPO, on January 23, 2014, the Company’s stockholders approved the second articles of amendment and restatement to the Company’s charter, (“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 its 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. Immediately following the filing of the Second Charter Amendment, the Company effectuated 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. 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. The Company listed its Class A common stock on the NYSE MKT on March 28, 2014. The Class B common stock was identical to the Class A common stock, except that (i) the Company did not list the Class B common stock on a national securities exchange, and (ii) shares of the Class B common stock converted automatically into shares of Class A common stock at specified times, as follows: • March 23, 2015, in the case of the Class B-1 common stock; • September 19, 2015, in the case of the Class B-2 common stock; and • March 17, 2016, in the case of the Class B-3 common stock. On March 23, 2015, 353,630 shares of Class B-1 common stock converted into Class A common stock in accordance with the above, and no Class B-1 common stock remains outstanding. On September 19, 2015, 353,630 shares of Class B-2 common stock converted into Class A common stock in accordance with the above, and no Class B-2 common stock remains outstanding. On March 17, 2016, 353,629 shares of Class B-3 common stock converted into Class A common stock in accordance with the above, and no Class B-3 common stock remains outstanding. As a result of these conversions, there are no shares of Class B common stock outstanding. Follow-On Equity Offerings On January 20, 2015, the Company completed an underwritten shelf takedown offering (the “January 2015 Follow-On Offering”) of 4,600,000 shares of its Class A common stock, par value $0.01 per share, inclusive of shares sold pursuant to the full exercise of the overallotment option by the underwriters. The shares were registered with the SEC pursuant to a registration statement on Form S-3 (File No. 333-200359) filed with the SEC on November 19, 2014 and declared effective on December 19, 2014 (the “December 2014 Shelf Registration Statement”). The public offering price of $12.50 per share was announced on January 14, 2015. Net proceeds of the January 2015 Follow-On Offering were approximately $53.7 million after deducting underwriting discounts and commissions and estimated offering expenses. On May 22, 2015, the Company completed an underwritten shelf takedown offering (the “May 2015 Follow-On Offering”) of 6,348,000 shares of Class A common stock, par value $0.01 per share, inclusive of shares sold pursuant to the full exercise of the overallotment option by the underwriters. The shares were registered with the SEC pursuant to a registration statement on Form S-3 (File No. 333-200359) filed with the SEC on November 19, 2014 and declared effective on December 19, 2014. The public offering price of $13.00 per share was announced on May 19, 2015. Net proceeds of the May 2015 Follow-On Offering were approximately $77.6 million after deducting underwriting discounts and commissions and offering costs. On October 21, 2015, the Company completed an underwritten shelf takedown offering (the “October 2015 Preferred Stock Offering”) of 2,875,000 shares of 8.250% Series A Cumulative Redeemable Preferred Stock, par value $0.01 per share, liquidation preference $25.00 per share, inclusive of shares sold pursuant to the full exercise of the overallotment option by the underwriters. The shares were registered with the SEC pursuant to a registration statement on Form S-3 (File No. 333-200359) filed with the SEC on November 19, 2014 and declared effective on December 19, 2014. The public offering price of $25.00 per share was announced on October 16, 2015. Net proceeds of the October 2015 Preferred Stock Offering were approximately $69.2 million after deducting underwriting discounts and commissions and estimated offering costs. On April 25, 2016, the Company completed an underwritten offering of 2,300,000 shares of Series A Preferred Stock, inclusive of shares sold pursuant to the full exercise of the overallotment option by the underwriters (the “April 2016 Preferred Stock Offering”). The shares were registered with the SEC pursuant to the January 2016 Shelf Registration Statement. The public offering price of $25.00 per share was announced on April 20, 2016. Net proceeds of the April 2016 Preferred Stock Offering were approximately $55.3 million after deducting underwriting discounts and commissions and estimated offering costs. On May 26, 2016, the Company completed an offering of 400,000 shares of Series A Preferred Stock, (the “May 2016 Preferred Stock Offering”). The shares were registered with the SEC pursuant to the January 2016 Shelf Registration Statement. The offering price of $25.00 per share was announced on May 26, 2016. Net proceeds of the May 2016 Preferred Stock Offering were approximately $9.5 million after deducting underwriting discounts and commissions and estimated offering costs. On July 19, 2016, the Company completed an underwritten offering (the “July 2016 Preferred Stock Offering”) of 2,300,000 shares of 7.625% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share, liquidation preference $25.00 per share, inclusive of shares sold pursuant to the full exercise of the overallotment option by the underwriters. The shares were registered with the SEC pursuant to the January 2016 Shelf Registration Statement. The public offering price of $25.00 per share was announced on July 12, 2016. Net proceeds of the July 2016 Preferred Stock Offering were approximately $55.3 million after deducting underwriting discounts and commissions and estimated offering costs. On October 13, 2016, the Company completed an underwritten offering (the “October 2016 Preferred Stock Offering”) of 2,700,000 shares of 7.125% Series D Cumulative Preferred Stock, par value $0.01 per share, liquidation preference $25.00 per share. The shares were registered with the SEC pursuant to the January 2016 Shelf Registration Statement. The public offering price of $25.00 per share was announced on October 6, 2016. Net proceeds of the October 2016 Preferred Stock Offering were approximately $65.0 million after deducting underwriting discounts and commissions and estimated offering costs. On November 3, 2016, the Company closed on the sale of 150,602 shares of Series D preferred stock for proceeds of approximately $3.7 million pursuant to the underwriters’ exercise of the overallotment option. At-the-Market Offerings On March 29, 2016, the Company, its Operating Partnership and its Manager entered into an At Market Issuance Sales Agreement (the “Series A Sales Agreement”) with FBR Capital Markets & Co. (“FBR”), and MLV & Co. LLC (“MLV”). Pursuant to the Series A Sales Agreement, FBR and MLV will act as distribution agents with respect to the offering and sale of up to $100,000,000 in shares of Series A Preferred Stock in “at the market offerings” as defined in Rule 415 under the Securities Act, including without limitation sales made directly on or through the NYSE MKT, or on any other existing trading market for Series A Preferred Stock or through a market maker (the “Series A ATM Offering”). Since March 31, 2016, the Company sold 146,460 shares of Series A Preferred Stock in the ATM Offering through April 8, 2016. On April 8, 2016, the Company delivered notice to each of FBR and MLV, pursuant to the terms of the Series A Sales Agreement, to suspend all sales under the Series A ATM Offering. As of December 31, 2016, the Company has sold 146,460 shares of Series A Preferred Stock in the Series A ATM Offering for net proceeds of approximately $3.6 million after commissions. On August 8, 2016, the Company, its Operating Partnership and its Manager entered into an At Market Issuance Sales Agreement (the “Class A Sales Agreement”) with FBR. Pursuant to the Class A Sales Agreement, FBR will act as distribution agent with respect to the offering and sale of up to $100,000,000 in shares of Class A common stock in “at the market offerings” as defined in Rule 415 under the Securities Act, including without limitation sales made directly on or through the NYSE MKT, or on any other existing trading market for Class A common stock or through a market maker (the “Class A Common Stock ATM Offering”). The Company has not commenced any sales through the Class A Common Stock ATM Offering. On September 14, 2016, the Company, its Operating Partnership and its Manager entered into an At Market Issuance Sales Agreement (the “Series C Sales Agreement”) with FBR. Pursuant to the Series C Sales Agreement, FBR will act as distribution agent with respect to the offering and sale of up to $36,000,000 in shares of Series C Preferred Stock in “at the market offerings” as defined in Rule 415 under the Securities Act, including without limitation sales made directly on or through the NYSE MKT, or on any other existing trading market for Series C Preferred Stock or through a market maker (the “Series C ATM Offering”). Since September 14, 2016, the Company sold 23,750 shares of Series C Preferred Stock in the Series C ATM Offering through September 27, 2016. On September 27, 2016, the Company delivered notice to FBR, pursuant to the terms of the Series C Sales Agreement, to suspend all sales under the Series C ATM Offering. As of December 31, 2016, the Company has sold 23,750 shares of Series C Preferred Stock in the Series C ATM Offering for net proceeds of approximately $0.6 million after commissions. Shelf Registration Statements On January 12, 2016, the Company filed, and on January 29, 2016, the SEC declared effective on Form S-3 (File No. 333-208956), a shelf registration statement that expires in January 2019 (the “January 2016 Shelf Registration Statement”). The securities covered by the January 2016 Shelf Registration Statement cannot exceed $1,000,000,000 in the aggregate and include common stock, preferred stock, depositary shares representing preferred stock, debt securities, warrants to purchase stock or debt securities and units. The Company may periodically offer one or more of these securities in amounts, prices and on terms to be announced when and if these securities are offered. The specifics of any future offerings, along with the use of proceeds of any securities offered, will be described in detail in a prospectus supplement, or other offering materials, at the time of the offering. On January 13, 2016, the Company filed, and on January 29, 2016, the SEC declared effective on Form S-3 (File No. 333-208988), a resale shelf registration statement that expires in January 2019 (the “Resale Registration Statement”). The Resale Registration Statement provides that selling stockholders named therein may offer for sale up to 2,262,621 shares of Class A common stock currently held or issuable in exchange for units of limited partnership in the Operating Partnership, tendered for redemption by the selling stockholders. The Company will not receive any proceeds from the sale of these securities. Termination of Original Series B Preferred Stock Offering, Reclassification of Original Series B Preferred Stock, and Filing of New Prospectus Supplement for Offering of Reclassified Series B Preferred Stock On December 17, 2015, the Company filed a prospectus supplement to the December 2014 Shelf Registration Statement offering a maximum of 150,000 Units (the “Original Units”) consisting of 150,000 shares of Series B redeemable preferred stock (the “Original Series B Preferred Stock”) and warrants (the “Original Warrants”) to purchase 3,000,000 shares of Class A common stock (liquidation preference $1,000 per share of Original Series B Preferred Stock). As of December 31, 2015, no Original Units had been sold. On February 22, 2016, the Company’s board of directors authorized the termination of the offering of the Original Series B Preferred Stock in order to revise certain terms thereof, and the reclassification of the Original Series B Preferred Stock. On February 23, 2016, the Company terminated the offering of the Original Series B Preferred Stock, and on February 24, 2016, the Company filed a new prospectus supplement to the December 2014 Shelf Registration Statement offering a maximum of 150,000 Units (the “Series B Units”) consisting of 150,000 shares of the reclassified Series B redeemable preferred stock (the “Series B Preferred Stock”) and warrants (the “Warrants”) to purchase 3,000,000 shares of Class A common stock (liquidation preference $1,000 per share of Series B Preferred Stock) (the “Series B Preferred Offering”). As of December 31, 2016, the Company has sold 21,482 shares of Series B Preferred Stock and 21,482 Warrants to purchase 429,640 shares of Class A common stock for net proceeds of approximately $19.3 million after commissions and fees. 8.250% Series A Cumulative Redeemable Preferred Stock The Series A Preferred Stock ranks senior to common stock and on parity with the Series B Preferred Stock and Series C Preferred Stock as to rights upon our liquidation, dissolution or winding up. The Series A Preferred Stock is entitled to priority cumulative dividends to be paid quarterly, in arrears, when, as and if authorized by the board of directors. Commencing October 21, 2022, the annual dividend rate will increase by 2.0% annually, up to a maximum of 14.0%, if not redeemed by the holder or not previously redeemed by the Company. Commencing on October 21, 2022, holders may, at their option, elect to have the Company redeem their shares at a redemption price of $25.00 per share, plus an amount equal to accrued but unpaid dividends, payable by the Company at its option in cash or shares of Class A common stock. The Company may not redeem the Series A Preferred Stock before October 21, 2020, except in limited circumstances related to its qualification as a REIT, complying with an asset coverage ratio or upon a change in control. After October 21, 2020, the Company can redeem for a redemption price of $25.00 per share plus any accrued and unpaid dividends. At the date of issuance, the carrying amount of the Series A Preferred Stock was less than the redemption value. As a result of the Company’s determination that redemption is probable, the carrying value will be increased by periodic accretions so that the carrying value will equal the redemption amount at the earliest redemption date. Such accretion is recorded as a preferred stock dividend on the Statement of Stockholders’ Equity. Series B Cumulative Redeemable Preferred Stock The Series B Preferred Stock ranks senior to common stock and on parity with the Series A Preferred Stock and Series C Preferred Stock as to rights upon our liquidation, dissolution or winding up. The Series B Preferred Stock is entitled to priority cumulative dividends to be paid monthly, in arrears, when, as and if authorized by the board of directors. Holders may, at their option, elect to have the Company redeem their shares through the first year from issuance subject to a 13% redemption fee. After year one, the redemption fee decreases to 10%, after year three it decreases to 5%, after year four it decreases to 3%, and after year five there is no redemption fee. Any redeemed shares are entitled to any accrued but unpaid dividends at the time of the redemption, payable by the Company at its option in cash or shares of Class A common stock. The Company may redeem the Series B Preferred Stock beginning two years from the original issuance for the liquidation preference per share plus any accrued and unpaid dividends in either cash or shares of Class A common stock, based on the volume weighted average price for the Class A common shares for the 20 trading days prior to the redemption. At the date of issuance, the carrying amount of the Series B Preferred Stock was less than the redemption value. As a result of the Company’s determination that redemption is probable, the carrying value will be increased by periodic accretions so that the carrying value will equal the redemption amount at the earliest redemption date. Such accretion is recorded as a preferred stock dividend on the Statement of Stockholders’ Equity. 7.625% Series C Cumulative Redeemable Preferred Stock The Series C Preferred Stock ranks senior to common stock and on parity with the Series A Preferred Stock and the Series B Preferred Stock as to rights upon liquidation, dissolution or winding up. The Series C Preferred Stock is entitled to priority cumulative dividends to be paid quarterly, in arrears, when, as and if authorized by the board of directors. Commencing July 19, 2023, the annual dividend rate will increase by 2.0% annually, up to a maximum of 14.0%, if not redeemed by the holder or not previously redeemed by the Company. Commencing on July 19, 2023, holders may, at their option, elect to have the Company redeem their shares at a redemption price of $25.00 per share, plus an amount equal to accrued but unpaid dividends, payable by the Company at its option in cash or shares of Class A common stock. The Company may not redeem the Series C Preferred Stock before July 19, 2021, except in limited circumstances related to its qualification as a REIT, complying with an asset coverage ratio or upon a change in control. After July 19, 2021, the Company can redeem for a redemption price of $25.00 per share plus any accrued and unpaid dividends. At the date of issuance, the carrying amount of the Series C Preferred Stock was less than the redemption value. As a result of the Company’s determination that redemption is probable, the carrying value will be increased by periodic accretions so that the carrying value will equal the redemption amount at the earliest redemption date. Such accretion is recorded as a preferred stock dividend on the Statement of Stockholders’ Equity. 7.125% Series D Cumulative Redeemable Preferred Stock The Series D Preferred Stock ranks senior to common stock and on parity with the Series A Preferred Stock, the Series B Preferred Stock and the Series C Preferred Stock as to rights upon liquidation, dissolution or winding up. The Series D Preferred Stock is entitled to priority cumulative dividends to be paid quarterly, in arrears, when, as and if authorized by the board of directors. After October 13, 2021, the Company can redeem for a redemption price of $25.00 per share plus any accrued and unpaid dividends. 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 include Bluerock REIT Holdings, LLC, BR-NPT Springing Entity, LLC (“NPT”), Bluerock Property Management, LLC (“BPM”), our Manager and Bluerock Multifamily Advisor, LLC (“Former Advisor”), all of which are affiliates of the Company. Prior to the completion of the IPO, the Company owned, directly and indirectly, 100% of the limited partnership units in the Operating Partnership. Effective as of the completion of the IPO, limited partners other than the Company owned approximately 9.87% of the Operating Partnership (282,759 OP Units, or 4.59%, were held by OP Unit holders, and 325,578 LTIP Units, or 5.28%, were held by LTIP Unit holders.) As of December 31, 2016, limited partners other than the Company owned approximately 8.86% of the Operating Partnership (297,861 OP Units, or 1.39%, is held by OP Unit holders, and 1,603,527 LTIP Units, or 7.47%, is held by LTIP Unit holders.) 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, as amended 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, including those issued upon conversion of LTIP Units 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. Subsequent to December 31, 2015, the Company has filed a registration statement to provide for their issuance or resale. The Operating Partnership, in conjunction with the issuance of preferred stock by the Company, has issued preferred OP Units which provide for similar rights as for each class of preferred stock. 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 shares of restricted stock on the initial effective date of the continuous registered offering and received an automatic grant of 2,500 shares of restricted stock when such directors were re-elected at each annual meeting of the Company’s stockholders thereafter through the 2013 annual meeting held on August 5, 2013. The restricted stock vested 20% at the time of the grant and 20% on each anniversary thereafter over four years from the date of the grant. All shares of restricted stock granted to the independent directors receive distributions, whether vested or unvested. The value of the restricted stock granted was determined at the date of grant. Commencing with the Company’s IPO, the Directors will no longer receive automatic grants upon appointment or reelection at each annual meeting of the Company’s stockholders. 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 restricted shares of the Company’s Class A common stock. The first grant of 2,500 restricted shares related to services rendered in 2014 (each, a “2014 Restricted Stock Award”), while the second grant of 2,500 restricted shares relates to services rendered or to be rendered in 2015 (each, a “2015 Restricted Stock 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. 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. The stock awards were made pursuant to certain stock award agreements by and between the Company and each independent director, each dated effective as of March 24, 2015 (collectively, the “2014 – 2015 Stock Award Agreements”). On May 28, 2015, the Company’s stockholders approved the amendment and restatement of the 2014 Individuals Plan, (the “Amended Individuals Plan), and the 2014 Entities Plan, (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 shares of Class A common stock. The Amended 2014 Incentive Plans provide for the grant of options to purchase shares of the Company’s common stock, stock awards, stock appreciation rights, performance units, incentive awards and other equity-based awards. On February 22, 2016, the board reviewed peer REIT compensation practices for independent directors, and found that equity awards for peer REITs generally vest either on the grant date, or after one year. In order to normalize compensation practices with peer REITs, on February 22, 2016, the board approved the amendment of each of the 2014 – 2015 Stock Award Agreements, effective as of March 24, 2016, such that the Stock Awards that did not vest on the grant date of March 24, 2015 vested on the one-year anniversary of such grant date. As a result, (i) 1,666 shares of the 2014 Stock Award to each independent director, and (ii) all 2,500 shares of the 2015 Stock Award to each independent director, became vested and nonforfeitable on March 24, 2016. The expense for the accelerated vesting was approximately $0.1 million which was recorded in the three months ended March 31, 2016. On March 24, 2016, the Company granted a total of 7,500 shares of Class A common stock to its independent directors. The fair value of the grants was approximately $0.1 million and the shares vested immediately. A summary of the status of the Company’s non-vested shares as of December 31, 2016, 2015 and 2014, is as follows (dollars in thousands): Non-Vested shares Shares (1) Weighted average (1) Balance at January 1, 2014 6,59

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2016
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.

Selected Quarterly Financial Da

Selected Quarterly Financial Data	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Text Block]	Note 13 — Selected Quarterly Financial Data (Unaudited) The following table sets forth summarized quarterly financial data for the year ended December 31, 2016: Quarters Ended 2016 March 31 June 30 September 30 December 31 (In thousands, except per share amounts) Total revenue $ 16,634 $ 18,399 $ 19,624 $ 22,394 Operating (loss) income $ (1,165 ) $ (147 ) $ 1,188 $ (913 ) Net (loss) income $ (2,625 ) $ (1,961 ) $ 1,568 $ 39 Net loss available to common shareholders $ (4,135 ) $ (5,043 ) $ (2,551 ) $ (7,260 ) Loss per common share, basic: (1) $ (0.20 ) $ (0.24 ) $ (0.12 ) $ (0.34 ) Loss per common share, diluted: (1) $ (0.20 ) $ (0.24 ) $ (0.12 ) $ (0.34 ) (1) EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2016. The following table sets forth summarized quarterly financial data for the year ended December 31, 2015: Quarters Ended 2015 March 31 (1) June 30 (1) September 30 (1) December 31 (1) (In thousands, except per share amounts) Total revenue $ 9,036 $ 10,469 $ 11,560 $ 13,200 Operating (loss) income $ (420 ) $ 701 $ (12 ) $ (1,883 ) Net income (loss) $ 9,347 $ (704 ) $ (602 ) $ (398 ) Net income (loss) available to common shareholders $ 3,313 $ (582 ) $ (574 ) $ (1,523 ) Earnings (loss) per common share, basic: (1) $ 0.26 $ (0.04 ) $ (0.03 ) $ (0.07 ) Earnings (loss) per common share, diluted: (1) $ 0.26 $ (0.04 ) $ (0.03 ) $ (0.07 ) (1) EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2015.

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Subsequent Events [Text Block]	Note 14 — Subsequent Events Distributions Declared On January 6, 2017, our board of directors authorized, and we declared, monthly dividends for the first quarter of 2017 equal to a quarterly rate of $0.29 per share on our Class A common stock, payable to the stockholders of record as of January 25, 2017, February 24, 2017 and March 24, 2017, which was paid in cash on February 3, 2017, and which will be paid in cash on March 3, 2017 and April 5, 2017, respectively. Holders of OP and LTIP Units are entitled to receive “distribution equivalents” at the same time as dividends are paid to holders of our Class A common stock. The declared dividends equal a monthly dividend on the Class A common stock as follows: $0.096666 per share for the dividend paid to stockholders of record as of January 25, 2017, $0.096667 per share for the dividend paid to stockholders of record as of February 24, 2017, and $0.096667 per share for the dividend paid to stockholders of record as of March 24, 2017. A portion of each dividend may constitute a return of capital for tax purposes. There is no assurance that we will continue to declare dividends or at this rate. On January 6, 2017, our board of directors authorized, and we declared monthly dividends for the first quarter of 2017 equal to monthly rate of $5.00 per share on our Series B Preferred Stock, payable monthly to the stockholders of record as of January 25, 2017, February 24, 2017 and March 24, 2017, which was paid in cash on February 3, 2017, and which will be paid in cash on March 3, 2017 and April 5, 2017, respectively. Issuance of LTIP Units for Payment of the Fourth Quarter 2016 Base Management Fee The Manager earned a base management fee of $2.0 million during the fourth quarter of 2016. This amount was payable 50% in LTIP Units with the other 50% payable in either cash or LTIP Units at the discretion of the Company’s board of directors. Upon consultation with the Manager, the board of directors elected to pay 100% of the base management fee and operating expense reimbursement in LTIP Units. Distributions Paid Shares Declaration Date Record Date Date Paid Distributions Total Class A Common Stock October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 1,892 Series A Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.5156250 $ 2,950 Series B Preferred Stock October 4, 2016 December 23, 2016 January 5, 2017 $ 5.0000000 $ 95 Series C Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.4765625 $ 1,107 Series D Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.3859000 $ 1,100 OP Units October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 29 LTIP Units October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 155 Class A Common Stock January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 2,336 Series B Preferred Stock January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 119 OP Units January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 29 LTIP Units January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 155 Total $ 9,967 January 2017 Offering of Class A Common Stock Subsequent to year end, on January 17, 2017, the Company completed an underwritten offering (the “January 2017 Class A Common Stock Offering”) of 4,000,000 shares of its Class A common stock, par value $0.01 per share. The shares were registered with the SEC pursuant to the January 2016 Shelf Registration Statement. The public offering price of $13.15 per share was announced on January 11, 2017. Net proceeds of the January 2017 Class A Common Stock Offering were approximately $49.8 million after deducting underwriting discounts and commissions and estimated offering costs. On January 24, 2017, the Company closed on the sale of 600,000 shares of Class A common stock for proceeds of approximately $7.5 million pursuant to the underwriters’ full exercise of the overallotment option. Increase in West Morehead Mezzanine Financing On January 5, 2017, the Company increased the amount of its mezzanine loan, or the BRG West Morehead Mezz Loan, to BR Morehead JV Member, LLC, or BR Morehead JV Member, to approximately $24.6 million, as disclosed in Note 6, “Notes and Interest Receivable due from Related Party,” to our Notes to the Consolidated Financial Statements. APOK Redemption of Common Equity Investment and Mezzanine Financing On January 6, 2017, (i) Fund II redeemed the common equity interest held by BRG Boca, LLC, or BRG Boca, a wholly-owned subsidiary of the Operating Partnership, in BR Boca JV Member, LLC, or BR Boca JV Member, for $7.3 million, (ii) BRG Boca obtained a 0.5% common equity interest in BR Boca JV Member, and (iii) the Company, through BRG Boca, provided a mezzanine loan in the amount of $11.2 million to BR Boca JV Member, or the BRG Boca Mezz Loan. The BRG Boca Mezz Loan is secured by the BR Boca JV Member’s approximate 89.6% common equity interest in in a multi-tiered joint venture, along with Fund II, an affiliate of the Manager, and NCC Development Group, or the Boca JV, which intends to develop an approximately 90-unit Class A townhome apartment community located in Boca Raton, Florida to be known as APOK Townhomes. The BRG Boca Mezz Loan bears interest at a fixed rate of 15.0%, and matures on January 6, 2020. Regular monthly payments are interest-only during the initial term, and the BRG Boca Mezz Loan can be prepaid without penalty. The Company has the right to exercise an option to purchase, at the greater of a 25 basis point discount to fair market value or a 15% internal rate of return for Fund II, up to a 100% common membership interest in BR Boca JV Member, which is 99.5% owned by Fund II and which currently holds an approximate 89.6% common equity interest in the Boca JV and in the APOK Townhomes property, subject to certain promote rights of our unaffiliated development partner. On February 17, 2017, the Company, through subsidiaries of its Operating Partnership, completed an investment of approximately $20.0 million, to acquire 100% of a 382-unit, Class A apartment community located in Morrisville, North Carolina known as Preston View Apartments. Preston View Apartments’ purchase price of approximately $59.5 million was funded, in part, with a $41.1 million senior mortgage loan secured by the Preston View Apartments property and improvements (the “Preston View Loan”). The Preston View Loan matures March 1, 2024 and bears interest on a floating basis on the amount drawn based on LIBOR plus 2.07%, capped at 5.50%. Regular monthly payments are interest-only during the initial two years, with payments based on thirty-year amortization thereafter. The Company provided certain standard scope non-recourse carveout guarantees in conjunction with the Preston View Loan.

Schedule III - Real Estate and

Schedule III - Real Estate and Accumulated Depreciation	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Abstract]
SEC Schedule III, Real Estate and Accumulated Depreciation Disclosure [Text Block]	December 31, 2016 COLUMN A COLUMN B COLUMN C COLUMN D COLUMN E COLUMN F COLUMN G COLUMN H Location Encumbrance Initial Cost Costs Gross Amount at Which Carried at Close of Period Accumulated Date of Life on Which Property Land Building and Land Building and Total Real Estate Held for Investment Enders Place at Baldwin Park FL 24,732 4,750 20,171 4,566 5,453 24,034 29,487 3,519 2012 3 40 MDA Apartments IL 37,124 9,500 52,164 235 9,500 52,399 61,899 7,526 2012 3 40 Village Green of Ann Arbor MI 41,547 4,200 52,214 1,414 4,200 53,628 57,828 5,421 2014 3 40 Lansbrook Village FL 57,190 6,852 50,203 6,786 7,453 56,388 63,841 5,358 2014 3 40 ARIUM Grandewood FL 34,294 5,200 37,220 666 5,200 37,886 43,086 2,653 2014 3 40 Park & Kingston NC 18,432 3,060 24,353 2,918 3,360 26,971 30,331 1,618 2015 3 40 Fox Hill TX 26,705 4,180 33,171 322 4,180 33,493 37,673 2,241 2015 3 40 Ashton I NC 31,900 4,000 40,944 98 4,000 41,042 45,042 1,960 2015 3 40 ARIUM Palms FL 24,999 4,030 32,248 717 4,030 32,965 36,995 1,737 2015 3 40 Sorrel TX 38,684 6,710 47,444 209 6,710 47,653 54,363 2,356 2015 3 40 Sovereign TX 28,880 2,800 40,609 163 2,800 40,772 43,572 1,946 2015 3 40 Ashton II NC 15,270 1,900 19,517 4 1,900 19,521 21,421 692 2015 3 40 ARIUM at Palmer Ranch FL 26,925 7,800 30,597 1,011 7,800 31,608 39,408 1,010 2016 3 40 ARIUM Gulfshore FL 32,626 10,000 36,047 1,596 10,000 37,643 47,643 1,169 2016 3 40 The Preserve at Henderson Beach FL 36,989 4,100 50,117 567 4,100 50,684 54,784 1,255 2016 3 40 ARIUM Westside GA 52,150 8,657 63,402 240 8,657 63,642 72,299 814 2016 3 40 Nevadan GA 48,431 14,513 52,324 149 14,513 52,473 66,986 284 2016 3 40 ARIUM Pine Lakes FL 26,950 5,760 31,854 29 5,760 31,883 37,643 249 2016 3 40 The Brodie TX 34,825 5,400 42,497 160 5,400 42,657 48,057 141 2016 3 40 Roswell City Walk GA 51,000 8,423 66,249 5 8,423 66,254 74,677 188 2016 3 40 Legacy at Southpark TX 26,500 3,500 32,471 18 3,500 32,489 35,989 — 2016 3 40 Subtotal 716,153 125,335 855,816 21,873 126,939 876,085 1,003,024 42,137 Property Under Development Crescent Perimeter GA — 12,250 4,052 1,335 12,250 5,387 17,637 — 2016 3 40 Vickers Village GA — 3,085 4,919 549 3,085 5,468 8,553 — 2016 3 40 Subtotal — 15,335 8,971 1,884 15,335 10,855 26,190 — Total $ 716,153 $ 140,670 $ 864,787 $ 23,757 $ 142,274 $ 886,940 $ 1,029,214 $ 42,137 1. Reconciliation of Real Estate Properties The following table reconciles the Real Estate Properties from January 1, 2014 to December 31, 2016. 2016 2015 2014 Balance at January 1 $ 556,820 $ 299,686 $ 168,514 Construction and acquisition cost 508,218 272,602 212,973 Disposition of real estate (35,824) (15,468) (81,801) Balance at December 31 $ 1,029,214 $ 556,820 $ 299,686 2. Reconciliation of Accumulated Depreciation The following table reconciles the Real Estate Properties from January 1, 2014 to December 31, 2016. 2016 2015 2014 Balance at January 1 $ 23,437 $ 11,275 $ 5,509 Current year depreciation expense 23,580 12,445 8,367 Disposition of real estate (4,880) (283) (2,601) Balance at December 31 $ 42,137 $ 23,437 $ 11,275

Basis of Presentation and Sum23

Basis of Presentation and Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2016
Accounting Policies [Abstract]
Consolidation, Policy [Policy Text Block]	Principles of Consolidation and Basis of Presentation 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 December 31, 2016, limited partners other than the Company owned approximately 8.86% of the Operating Partnership (1.39% is held by holders of limited partnership interest in the Operating Partnership (“OP Units”) and 7.47% is held by holders of the Operating Partnership’s long-term incentive plan units (“LTIP Units”)). Bluerock Real Estate, L.L.C., a Delaware limited liability company, is referred to as Bluerock (“Bluerock”), and the Company’s external manager, BRG Manager, LLC, a Delaware limited liability company, is referred to as its Manager (“Manager”). Both Bluerock and the Manager are related parties with respect to the Company, but are not within the Company’s control and are not consolidated in the Company’s financial statements. 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. Effective January 1, 2016, the Company adopted ASU No. 2015-02, “Consolidation-Amendments to the Consolidation Analysis,” which modified the evaluation of whether limited partnerships and similar legal entities are variable interest entities (“VIEs”), particularly those with fee arrangements and related party relationships. The Company reviewed all of its entities in accordance with ASU 2015-02 and concluded that certain of its legal entities, including the Operating Partnership, which has always been consolidated, are now VIE’s. There were no entities qualifying under the scope of the revised guidance that were consolidated as a result of the adoption. As a result of the classification of the Operating Partnership as a VIE, substantially all of the Company’s assets and liabilities are assets and liabilities of a VIE. Accordingly, the adoption of ASU 2015-02 had no other impact on the Company’s consolidated financial statements. The Company consolidates entities in which it owns 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 “Preferred equity investments and 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 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.
Use of Estimates, Policy [Policy Text Block]	The preparation of the financial statements in conformity with accounting principles generally accepted in the United States of America (“GAAP”) requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Fair Value Measurement, Policy [Policy Text Block]	Fair value is defined as the price that would be received upon the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The GAAP fair value framework uses a three-tiered approach. Fair value measurements are classified and disclosed in one of the following three categories: • Level 1 — Unadjusted quoted prices in active markets that are accessible at the measurement date for identical assets or liabilities; • Level 2 — Quoted prices for similar instruments in active markets, quoted prices for identical or similar instruments in markets that are not active, and model-derived valuations in which significant inputs and significant value drivers are observable in active markets; and • Level 3 — Prices or valuation techniques where little or no market data is available that requires inputs that are significant to the fair value measurement and unobservable. If the inputs used to measure the fair value fall within different levels of the hierarchy, the fair value is determined based upon the lowest level input that is significant to the fair value measurement. Whenever possible, the Company uses quoted market prices to determine fair value. In the absence of quoted market prices, the Company uses independent sources and data to determine fair value.
Investments in Unconsolidated Real Estate Joint Ventures [Policy Text Block]	The Company first analyzes its investments in joint ventures to determine if the joint venture is a variable interest entity (“VIE”) in accordance with ASC 810 and if so, whether the Company is the primary beneficiary requiring consolidation. A VIE is an entity that has (i) insufficient equity to permit it to finance its activities without additional subordinated financial support or (ii) equity holders that lack the characteristics of a controlling financial interest. VIEs are consolidated by the primary beneficiary, which is the entity that has both the power to direct the activities that most significantly impact the entity’s economic performance and the obligation to absorb losses or the right to receive benefits from the entity that potentially could be significant to the entity. Variable interests in a VIE are contractual, ownership, or other financial interests in a VIE that change in value with changes in the fair value of the VIE’s net assets. The Company continuously re-assesses at each level of the joint venture whether the entity is (i) a VIE, and (ii) if the Company is the primary beneficiary of the VIE. If it was determined an entity in which the Company holds a joint venture interest qualified as a VIE and the Company was the primary beneficiary, the entity would be consolidated. If, after consideration of the VIE accounting literature, the Company has determined that an entity is not a VIE, the Company assesses the need for consolidation under all other provisions of ASC 810. These provisions provide for consolidation of majority-owned entities through a majority voting interest held by the Company providing control, or through determination of control by virtue of the Company being the general partner in a limited partnership or the controlling member of a limited liability company. In assessing whether the Company is in control of and requiring consolidation of the limited liability company and partnership venture structures the Company evaluates the respective rights and privileges afforded each member or partner (collectively referred to as “member”). The Company’s member would not be deemed to control the entity if any of the other members have either (i) substantive kickout rights providing the ability to dissolve (liquidate) the entity or otherwise remove the managing member or general partner without cause or (ii) has substantive participating rights in the entity. Substantive participating rights (whether granted by contract or law) provide for the ability to effectively participate in significant decisions of the entity that would be expected to be made in the ordinary course business. If it has been determined that the Company does not have control, but does have the ability to exercise significant influence over the entity, the Company accounts for these unconsolidated investments under the equity method of accounting. The equity method of accounting requires these investments to be initially recorded at cost and subsequently increased (decreased) for the Company’s share of net income (loss), including eliminations for the Company’s share of inter-company transactions, and increased (decreased) for contributions (distributions). The Company’s proportionate share of the results of operations of these investments is reflected in the Company’s earnings or losses.
Finance, Loans and Leases Receivable, Policy [Policy Text Block]	Notes and Accrued Interest Receivable from Related Parties The Company recognizes interest income on mortgage loans on the accrual method unless a significant uncertainty of collection exists. If a significant uncertainty exists, interest income is recognized as collected. The Company evaluates the collectibility of both interest and principal on each of its loans to determine whether the loans are impaired. A loan is considered to be impaired when, based on current information and events, it is probable that the Company will be unable to collect all amounts due according to the existing contractual terms. When a loan is considered to be impaired, the amount of loss is calculated by comparing the recorded investment to the value determined by discounting the expected future cash flows at the loan’s effective interest rate or to the fair value of the underlying collateral (if the loan is collateralized) less costs to sell. As of December 31, 2016, there was no significant uncertainty of collection; therefore, interest income was recognized. As of December 31, 2016, the Company determined that no allowance for collectibility of the mortgage loans receivable was necessary.
Real Estate, Policy [Policy Text Block]	Real Estate Assets Development, Improvements, Depreciation and Amortization Costs incurred to develop and improve properties are capitalized. The Company capitalizes direct and indirect costs that are clearly related to the development, construction, or improvement of Properties, including internal costs such as interest, taxes, and qualifying payroll related expenditures. Cost capitalization begins once the development or construction activity commences and ceases when the asset is ready for its intended use. Repair and maintenance and tenant turnover costs are charged to expense as incurred. Repair and maintenance and tenant turnover costs include all costs that do not extend the useful life of the real estate asset. Depreciation and amortization expense is computed on the straight-line method over the asset’s estimated useful life. The Company considers the period of future benefit of an asset to determine its appropriate useful life and anticipates the estimated useful lives of assets by class to be generally as follows: Buildings 30 – 40 years Building improvements 5 – 15 years Land improvements 5 – 15 years Furniture, fixtures and equipment 3 – 7 years In-place leases 6 months
Real Estate Purchase Price Allocation [Policy Text Block]	The Company records the acquisition of income-producing real estate or real estate that meets the definition of a business and will be used for the production of income as a business combination. All assets acquired and liabilities assumed in a business combination are measured at their acquisition date fair values. Acquisition costs are expensed as incurred. Intangible assets include the value of in-place leases, which represents the estimated fair value of the net cash flows of leases in place at the time of acquisition to be realized, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. The Company amortizes the value of in-place leases to expense over the remaining non-cancelable term of the respective leases, which is on average six months. Estimates of the fair values of the tangible assets, identifiable intangibles and assumed liabilities require the Company to make significant assumptions to estimate market lease rates, property operating expenses, carrying costs during lease-up periods, discount rates, market absorption periods prevailing interest rates and the number of years the property will be held for investment. The use of inappropriate assumptions could result in an incorrect valuation of acquired tangible assets, identifiable intangible assets and assumed liabilities, which could impact the amount of the Company’s net income (loss). Differences in the amount attributed to the fair value estimate of the various assets acquired can be significant based upon the assumptions made in calculating these estimates.
Impairment Of Real Estate Assets [Policy Text Block]	The Company continually monitors events and changes in circumstances that could indicate that the carrying amounts of the Company’s real estate and related intangible assets may not be recoverable. When indicators of potential impairment suggest that the carrying value of real estate and related intangible assets and liabilities may not be recoverable, the Company assesses the recoverability of the assets by estimating whether the Company will recover the carrying value of the asset through its undiscounted future cash flows and its eventual disposition. Based on this analysis, if the Company does not believe that it will be able to recover the carrying value of the real estate and related intangible assets and liabilities, the Company will record an impairment loss to the extent that the carrying value exceeds the estimated fair value of the real estate and related intangible assets and liabilities. No impairment charges were recorded in 2016, 2015 or 2014.
Cash and Cash Equivalents, Policy [Policy Text Block]	The Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents. Cash equivalents may include cash and short-term investments. Short-term investments are stated at cost, which approximates fair value.
Restricted Cash [Policy Text Block]	Restricted cash is comprised of lender imposed escrow accounts for replacement reserves and amounts set aside for real estate taxes and insurance and amounts set aside for reinvestment in accordance with Internal Revenue Service Code Section 1031 related to like-kind exchanges.
Concentration Risk, Credit Risk, Policy [Policy Text Block]	The Company maintains cash balances with high quality financial institutions and periodically evaluates the creditworthiness of such institutions and believes that the Company is not exposed to significant credit risk. Cash balances may be in excess of the amounts insured by the Federal Deposit Insurance Corporation.
Rents And Other Receivables [Policy Text Block]	Rents and Other Receivables The Company will periodically evaluate the collectability of amounts due from tenants and maintain an allowance for doubtful accounts for estimated losses resulting from the inability of tenants to make required payments under lease agreements. The Company exercises judgment in establishing these allowances and considers payment history and current credit status of tenants in developing these estimates.
Deferred Charges, Policy [Policy Text Block]	Deferred Financing Fees Deferred financing fees represent commitment fees, legal fees and other third party costs associated with obtaining financing. Deferred financing fees paid by the Company on behalf of its consolidated joint ventures are capitalized, reflected as a reduction of mortgages payable, and amortized to interest expense over the terms of the financing agreement using the straight-line method, which approximates the effective interest method. Deferred financing fees paid by the Company on behalf of its unconsolidated joint ventures are recorded within investments in unconsolidated real estate joint ventures on the consolidated balance sheets and are amortized to equity in income (loss) of unconsolidated real estate joint ventures.
Noncontrolling Interests [Policy Text Block]	Noncontrolling Interests Noncontrolling interests are comprised of the Company’s joint venture partners’ interests in consolidated joint ventures, as well as interests held by OP Unit holders. The Company reports its joint venture partners’ interest in its consolidated real estate joint ventures and other subsidiary interests held by third parties as noncontrolling interests. The Company records these noncontrolling interests at their initial fair value, adjusting the basis prospectively for their share of the respective consolidated investments’ net income or loss and equity contributions and distributions. These noncontrolling interests are not redeemable by the equity holders and are presented as part of permanent equity. Income and losses are allocated to the noncontrolling interest holder pursuant to each joint venture’s operating agreement.
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition Rental income related to tenant leases is recognized on an accrual basis over the terms of the related leases on a straight-line basis. Amounts received in advance are recorded as a liability within other related liabilities. Other property revenues are recognized in the period earned. The Company records sales of real estate assets using the full accrual method at closing when both of the following conditions are met: a) the profit is determinable, meaning that, the collectability of the sales price is reasonably assured or the amount that will not be collectible can be estimated; and b) the earnings process is virtually complete, meaning that the seller is not obligated to perform significant activities after the sale to earn the profit. Sales not qualifying for full recognition at the time of sale are accounted for under other appropriate deferral methods.
Share-based Compensation, Option and Incentive Plans Policy [Policy Text Block]	Stock-Based Compensation The Company expenses the fair value of share awards in accordance with the fair value recognition requirements of ASC Topic 718 “Compensation-Stock Compensation.” ASC Topic 718 requires companies to measure the cost of the recipient services received in exchange for an award of an equity instrument based on the grant-date fair value of the award. The cost of the share award is expensed over the requisite service period (usually the vesting period).
Distribution [Policy Text Block]	Distribution Policy The Company expects to authorize and declare regular cash distributions to its stockholders in order to maintain its REIT status. Distributions to stockholders will be determined by the Company’s Board of Directors and will be dependent upon a number of factors, including funds available for the payment of distributions, financial condition, the timing of property acquisitions, capital expenditure requirements, and annual distribution requirements in order to maintain the Company’s status as a REIT, and other considerations as the Board of Directors may deem relevant. Distributions are recorded as a reduction of stockholders’ equity in the period in which they are declared.
Related Party Transactions [Policy Text Block]	Related Party Transactions Prior to the IPO, the Company was externally advised by its former advisor, Bluerock Multifamily Advisor, LLC (the “Former Advisor”), an affiliate of Bluerock. Under the initial advisory agreement, the Company was obligated to pay the Former Advisor specified fees upon the provision of certain services related to, the investment of funds in real estate investments, management of the Company’s investments and for other services (including, but not limited to, the disposition of investments). The Company was also obligated to reimburse the Former Advisor for organization and offering costs incurred by the Former Advisor on the Company’s behalf, and was obligated to reimburse the Former Advisor for acquisition expenses and certain operating expenses incurred on its behalf or incurred in connection with providing services to the Company. The Company recorded all related party fees as incurred, subject to any limitations described in the advisory agreement. This advisory agreement was terminated on April 2, 2014 in connection with the Company’s IPO. On April 2, 2014, upon the completion of the IPO, the Company entered into a Management Agreement with the Manager, an affiliate of Bluerock, to be the Company’s external manager. Under the Management Agreement the Company pays the Manager a base management fee and incentive fee. The Company records all related party fees as incurred.
Commissions, Policy [Policy Text Block]	Selling Commissions and Dealer Manager Fees In conjunction with the offering of the Series B Preferred Stock, the Company engaged a related party, as dealer manager, up to 7% and 3% of the gross offering proceeds from the offering as selling commissions and dealer manager fees, respectively. The dealer manager may re-allow the selling commissions and dealer manager fees to participating broker-dealers, and is expected to incur costs in excess of the 10%, which costs will be borne by the dealer manager. Offering costs related to each closing are reclassified as a reduction of proceeds raised on the date of
Income Tax, Policy [Policy Text Block]	Income Taxes The Company has elected to be taxed as a REIT under Sections 856 through 860 of the Internal Revenue Code of 1986, as amended, and has qualified since the taxable year ended December 31, 2010. To qualify as a REIT, the Company must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of its annual REIT taxable income to stockholders (which is computed without regard to the dividends paid deduction or net capital gain and which does not necessarily equal net income as calculated in accordance with GAAP). As a REIT, the Company generally will not be subject to federal income tax to the extent it distributes qualifying dividends to its stockholders. Even if the Company qualifies for taxation as a REIT, the Company may be subject to certain state and local taxes on its income and property, and federal income and excise taxes on its undistributed income. If the Company fails to qualify as a REIT in any taxable year, the Company will be subject to federal income tax on its taxable income at regular corporate income tax rates and generally will not be permitted to qualify for treatment as a REIT for federal income tax purposes for the four taxable years following the year during which qualification is lost, unless the Internal Revenue Service grants us relief under certain statutory provisions. Such an event could materially adversely affect the Company’s net income and net cash available for distribution to stockholders. However, the Company intends to continue to organize and operate in such a manner as to remain qualified for treatment as a REIT. For the year ended December 31, 2016, 100% of the distributions received by the common stockholders were classified as return of capital for income tax purposes and none were ordinary income. In addition, for the year ended December 31, 2016, 91.05% of the distributions received by the preferred stockholders were classified as return of capital for income tax purposes and 8.95% were ordinary income. For the year ended December 31, 2015, 99.46% of the distributions received by the common stockholders were classified as return of capital for income tax purposes and 0.54% were ordinary income. For the year ended December 31, 2014, 8.2% of the distributions received by the common stockholders were classified as unrecaptured section 1250 capital gains and 91.8% were classified as return of capital for tax purposes. ASC Topic 740 clarifies the accounting for uncertainty in income taxes recognized in an enterprise’s financial statements. It requires a recognition threshold and measurement attribute for financial statement disclosure of tax positions taken, or expected to be taken, in an income tax return. This interpretation also provides guidance on derecognition, classification, interest and penalties, accounting in interim periods, disclosure, and transition. Management has considered all positions taken on the 2010 through 2015 tax returns (where applicable), and those positions expected to be taken on the 2016 tax returns, and concluded that tax positions taken will more likely than not be sustained at the full amount upon examination. Accordingly, the Company has concluded that there are no significant uncertain tax positions requiring recognition in its consolidated financial statements. The Company expects no significant increases or decreases in unrecognized tax benefits due to changes in tax positions within one year of December 31, 2016. If any income tax exposure was identified, the Company would recognize an estimated liability for income tax items that meet the criteria for accrual. Neither the Company nor its subsidiaries have been assessed interest or penalties by any major tax jurisdictions. If any interest and penalties related to income tax assessments arose, the Company would record them as income tax expense. As of December 31, 2016, tax returns for the calendar years 2010 and subsequent remain subject to examination by the Internal Revenue Service and various state tax jurisdictions.
Segment Reporting, Policy [Policy Text Block]	Reportable Segment The Company’s current business consists of investing in and operating multifamily communities. Substantially all of its consolidated net income (loss) is from investments in real estate properties that the Company owns through co-investment ventures which it either consolidates or accounts for under the equity method of accounting. The Company evaluates operating performance on an individual property level and based on the properties’ similar economic characteristics, the Company’s properties are aggregated into one reportable segment.
New Accounting Pronouncements, Policy [Policy Text Block]	New Accounting Pronouncements In January 2017, the FASB issued ASU 2017-01, “Business Combinations; Clarifying the Definition of a Business” (“ASU 2017-01). ASU 2017-01 modifies the requirements to meet the definition of a business under Topic 805, “Business Combinations.” The amendments provide a screen to determine when a set of identifiable assets and liabilities is not a business. The screen requires that when substantially all of the fair value of the gross assets acquired (or disposed of) is concentrated in a single identifiable asset or group of similar identifiable assets, the set is not a business. The impact is expected to result in fewer transactions being accounted for as business combinations. The Company believes that this amendment will result in most if its real estate acquisitions to be accounted for as asset acquisitions rather than business combinations. ASU 2017-01 is effective for the Company for annual and interim periods beginning after December 15, 2017 with early adoption permitted. The Company adopted this standard effective January 1, 2017. The impact to the Consolidated Financial Statements and related notes as a result of the adoption of this standard is primarily related to the difference in the accounting of acquisition costs. When accounting for these costs as a part of an asset acquisition, the Company will be permitted to capitalize the costs. In November 2016, the FASB issued ASU No. 2016-18, “Statement of Cash Flows; Restricted Cash” (“ASU 2016-18”). This update requires that a statement of cash flows explain the change during the period in the total of cash, cash equivalents, and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. The Company does not expect the adoption of this to have a material impact on the Company’s Consolidated Financial Statements and related notes. ASU 2016-18 is effective for the Company for annual and interim periods beginning after December 15, 2017 with early adoption permitted. In August 2016, the Financial Accounting Standards Board (“FASB”) issued ASU 2016-15, Statement of Cash Flows (Topic 230): Classification of Certain Cash Receipts and Cash Payments” (“ASU 2016-15”). The ASU provides guidance on the treatment of cash receipts and cash payments for certain types of cash transactions, to eliminate diversity in practice in the presentation of the cash flow statement. For public business entities, the amendments in ASU 2016-15 are effective for financial statements issued for fiscal years beginning after December 15, 2017, and interim periods within those fiscal years. Earlier application is permitted. The Company is still in the process of determining the impact that the implementation of ASU 2016-15 will have on the Company’s financial statements. In March 2016, the FASB issued ASU No. 2016-07, “Simplifying the Transition to the Equity Method of Accounting” (“ASU 2016-07”), which eliminates the requirement to retroactively adjust an investment, results of operations, and retained earnings when the investment qualifies for the use of the equity method as a result of an increase in the level of ownership interest or degree of influence. The new standard is effective for annual reporting periods beginning after December 15, 2016 and early adoption is permitted. The Company is still in the process of determining the impact that the implementation of ASU 2016-07 will have on the Company’s financial statements. In June 2016, the FASB updated Accounting Standards Codification (“ASC”) Topic 326 “Financial Instruments — Credit Losses” with 2016-13 “Measurement of Credit Losses on Financial Instruments” (“ASU 2016-03”). ASU 2016-13 enhances the methodology of measuring expected credit losses to include the use of forward-looking information to better inform credit loss estimates. ASU 2016-13 is effective for annual periods (including interim periods within those periods) beginning after December 15, 2019. The Company is currently evaluating the guidance and has not determined the impact this standard may have on the Company’s financial statements. In February 2016, the FASB issued ASU No. 2016-02, “Leases (Topic 842)” (“ASU 2016-02”). Under ASU 2016-02, an entity will be required to recognize right-of-use assets and lease liabilities on its balance sheet and disclose key information about leasing arrangements. ASU 2016-02 offers specific accounting guidance for a lessee, a lessor and sale and leaseback transactions. Lessees and lessors are required to disclose qualitative and quantitative information about leasing arrangements to enable a user of the financial statements to assess the amount, timing and uncertainty of cash flows arising from leases. For public companies, ASU 2016-02 is effective for annual reporting periods beginning after December 15, 2018, including interim periods within that reporting period, and requires a modified retrospective adoption, with early adoption permitted. The Company expects that, because of the ASU 2016-02’s emphasis on lessee accounting, ASU 2016-02 will not have a material impact on the Company’s accounting for leases. Consistent with present standards, the Company will continue to account for lease revenue on a straight-line basis. Also consistent with the Company’s current practice, under ASU 2016-02 only initial direct costs that are incremental to the lessor will be capitalized. 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 adoption had the effect of reducing total assets and total liabilities on the Company’s Consolidated Balance Sheet at December 31, 2015, by the amount of unamortized loan costs of $3.5 million. 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 ending after December 15, 2016. ASU 2014-15 did not 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 August 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. In April 2016, the FASB issued ASU No. 2016-10, “Revenue from Contracts with Customers” (Topic 606): Identifying Performance Obligations and Licensing, which adds guidance on identifying performance obligations within a contract. The Company has not selected a transition method. The Company’s revenue-producing contracts are primarily leases that are not within the scope of this standard. As a result, the Company does not expect the adoption of this standard to have a material impact the Company’s rental income. The Company is continuing to evaluate the impact on other revenue sources.

Real Estate Assets Held for S24

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests (Tables)	12 Months Ended
	Dec. 31, 2016
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 year ended December 31, 2014 (amounts in thousands): For the year Total revenues $ 508 Expenses Property operating expenses (177 ) Depreciation and amortization (184 ) Management fees (8 ) Interest expense, net (149 ) Loss on operations of rental property $ (10 ) Gain on sale of joint venture interest 1,006 Loss on early extinguishment of debt (880 ) Income from discontinued operations $ 116

Investments in Real Estate (Tab

Investments in Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Real Estate [Abstract]
Schedule Of Equity Method Investments And Consolidation Accounting Investments [Table Text Block]	Operating Properties Multifamily Community, Name, Location Number of Year (1) Ownership ARIUM at Palmer Ranch, Sarasota, FL 320 2016 95.0 % ARIUM Grandewood, Orlando, FL 306 2005 95.0 % ARIUM Gulfshore, Naples, FL 368 2016 95.0 % ARIUM Palms, Orlando, FL 252 2008 95.0 % ARIUM Pine Lakes, Port St. Lucie, FL 320 2003 85.0 % ARIUM Westside, Atlanta, GA 336 2008 90.0 % Ashton Reserve, Charlotte, NC 473 2015 100.0 % Enders at Baldwin Park, Orlando, FL 220 2003 89.5 % Fox Hill, Austin, TX 288 2010 94.6 % Lansbrook Village, Palm Harbor, FL 619 2004 90.0 % Legacy at Southpark, Austin, TX 250 2016 90.0% Multifamily Community, Name, Location Number of Year (1) Ownership MDA Apartments, Chicago, IL 190 2006 35.3 % Nevadan, Atlanta, GA 480 1990 90.0 % Park & Kingston, Charlotte, NC 168 2015 96.0 % Roswell City Walk, Roswell, GA 320 2015 98.0 % Sorrel, Frisco, TX 352 2015 95.0 % Sovereign, Fort Worth, TX 322 2015 95.0 % The Preserve at Henderson Beach, Destin, FL 340 2009 100.0 % The Brodie, formerly referred to as Deerfield, Austin, TX 324 2001 92.5 % Village Green of Ann Arbor, Ann Arbor, MI 520 2013 48.6 % Whetstone, Durham, NC 204 2015 (2) Total 6,972 (1) Represents date of last significant renovation or year built if there were no renovations. (2) Whetstone is currently a preferred equity investment providing a stated investment return.
Schedule Of Development Properties In Real Estate [Table Text Block]	Development Properties Multifamily Community Name/Location Number of Anticipated Initial Occupancy Anticipated Construction Completion Alexan CityCentre, Houston, TX 340 2Q 2017 4Q 2017 Alexan Southside Place, Houston, TX 270 4Q 2017 2Q 2018 APOK Townhomes, Boca Raton, FL 90 1Q 2018 3Q 2018 Crescent Perimeter, Atlanta, GA 320 3Q 2018 1Q 2019 Domain, Garland, TX 299 3Q 2018 1Q 2019 Flagler Village, Ft. Lauderdale, FL 384 3Q 2019 3Q 2020 Helios, formerly known as Cheshire Bridge, Atlanta, GA 285 2Q 2017 4Q 2017 Lake Boone Trail, Raleigh, NC 245 1Q 2018 3Q 2018 Vickers Village, Roswell, GA 79 1Q 2018 3Q 2018 West Morehead, Charlotte, NC 286 4Q 2018 2Q 2019 Total 2,598

Acquisition of Real Estate (Tab

Acquisition of Real Estate (Tables)	12 Months Ended
	Dec. 31, 2016
Business Combinations [Abstract]
Schedule of Real Estate Properties [Table Text Block]	The following table summarizes the assets acquired and liabilities assumed at the acquisition date. The amounts listed below reflect provisional amounts that will be updated as information becomes available for acquisitions made during the year ended December 31, 2016 (amounts in thousands): Purchase Land $ 68,153 Building 370,785 Building improvements 10,989 Land improvements 15,895 Furniture and fixtures 7,886 In-place leases 10,719 Total assets acquired $ 484,427 Mortgages assumed $ 37,476 Fair value adjustments 1,578 Total liabilities acquired $ 39,054
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 2016 acquisitions had occurred on January 1, 2015. Certain expenses such as property management fees and other costs not directly related to the future operations of the 2016 acquisitions noted above have been excluded (amounts in thousands, except per share amounts): For the Year Ended December 31, For the Year Ended December 31, 2016 2015 As Reported Pro-Forma Pro-Forma As Reported Pro-Forma Pro-Forma Revenues $ 77,051 $ 23,152 $ 100,203 $ 44,255 $ 45,414 $ 89,669 Net (loss) income $ (2,974 ) $ 2,802 $ (172 ) $ 7,643 $ (24,970 ) $ (17,327 ) Net (loss) income attributable to common stockholders $ (18,985 ) $ 2,756 $ (16,229 ) $ 635 $ (23,521 ) $ (22,886 ) Earnings per share, basic and diluted (1) $ (0.91 ) $ (0.78 ) $ 0.04 $ (1.31 ) (1) Pro-forma earnings per share, both basic and diluted, are calculated based on the net income (loss) attributable to BRG.

Investments in Unconsolidated27

Investments in Unconsolidated Real Estate Joint Ventures (Tables)	12 Months Ended
	Dec. 31, 2016
Equity Method Investments and Joint Ventures [Abstract]
Equity Method Investments [Table Text Block]	Following is a summary of the Company’s ownership interests in the investments reported under the equity method of accounting. Property December 31, December 31, Alexan CityCentre $ 7,733 $ 6,505 Alexan Southside Place 17,322 17,322 APOK Townhomes 7,569 — Domain 5,249 3,806 EOS — 3,629 Flagler Village 14,035 5,451 Helios, formerly known as Cheshire Bridge 16,360 16,360 Lake Boone Trail 9,919 9,919 West Morehead 13 — Whetstone 12,932 12,231 Total $ 91,132 $ 75,223
Preferred Equity Method Investments [Table Text Block]	Property December 31, December 31, December 31, Alexan CityCentre $ 1,085 $ 976 $ 388 Alexan Southside Place 2,605 1,996 — APOK Townhomes 226 — — Domain 614 64 — EOS 530 544 230 Flagler Village (6 ) (5 ) — Helios, formerly known as Cheshire Bridge 2,461 1,383 — Lake Boone Trail 1,492 44 Villas at Oak Crest — 489 322 West Morehead 677 — — Whetstone 1,948 1,131 — Other — (32 ) 126 Preferred returns and equity in income of unconsolidated joint venture $ 11,632 $ 6,590 $ 1,066
Equity Income Loss of Joint Ventures [Table Text Block]	Summary combined financial information for the Company’s investments in unconsolidated real estate joint ventures as of December 31, 2016, 2015 and 2014 and for the years ended December 31, 2016 and 2015, is as follows: December 31, December 31, Balance Sheets: Real estate, net of depreciation $ 197,742 $ 132,265 Other assets 33,814 24,737 Total assets $ 231,556 $ 157,002 Mortgage payable $ 97,598 $ 55,066 Other liabilities 13,191 5,018 Total liabilities $ 110,789 $ 60,084 Members’ equity 120,767 96,918 Total liabilities and members’ equity $ 231,556 $ 157,002 Year Ended December 31, 2016 2015 2014 Operating Statements: Rental revenues $ 5,993 $ 2,765 $ 7,214 Operating expenses (3,101 ) (2,776 ) (3,190 ) Income (loss) before debt service, acquisition costs, and depreciation and amortization 2,892 (11 ) 4,024 Interest expense, net (1,409 ) (756 ) (1,648 ) Acquisition costs (3 ) (66 ) (2 ) Depreciation and amortization (2,881 ) (2,009 ) (1,970 ) Operating (loss) income (1,401 ) (2,842 ) 404 Gain on sale 16,733 29,200 2,498 Net income $ 15,332 $ 26,358 $ 2,902

Mortgages Payable (Tables)

Mortgages Payable (Tables)	12 Months Ended
	Dec. 31, 2016
Debt Disclosure [Abstract]
Schedule of Long-term Debt Instruments [Table Text Block]	The following table summarizes certain information as of December 31, 2016 and 2015, with respect to the Company’s indebtedness (amounts in thousan ds). Outstanding Principal As of December 31, 2016 Property December 31, December 31, Interest Fixed/Floating Maturity Date ARIUM at Palmer Ranch $ 26,925 $ — 2.79 % Floating (1) February 1, 2023 ARIUM Grandewood 34,294 29,444 2.45 % Floating (2) December 1, 2024 ARIUM Gulfshore 32,626 — 2.79 % Floating (3) February 1, 2023 ARIUM Palms 24,999 24,999 2.84 % Floating (4) September 1, 2022 ARIUM Pine Lakes 26,950 — 3.95 % Fixed November 1, 2023 ARIUM Westside 52,150 — 3.68 % Fixed August 1, 2023 Ashton I 31,900 31,900 4.67 % Fixed December 1, 2025 Ashton II 15,270 15,270 3.24 % Floating (5) January 1, 2026 Enders Place at Baldwin Park (6) 24,732 25,155 4.30 % Fixed November 1, 2022 Fox Hill 26,705 26,705 3.57 % Fixed April 1, 2022 Lansbrook Village 57,190 43,628 3.06 % Floating (7) August 1, 2026 Legacy at Southpark 26,500 — 4.35 % Fixed January 1, 2024 MDA Apartments 37,124 37,600 5.35 % Fixed January 1, 2023 Nevadan 48,431 — 3.10 % Floating (9) November 1, 2023 Park & Kingston (8) 18,432 15,250 3.41 % Fixed April 1, 2020 Roswell City Walk 51,000 — 3.63 % Fixed December 1, 2026 Sorrel 38,684 38,684 2.91 % Floating (10) May 1, 2023 Sovereign 28,880 28,880 3.46 % Fixed November 10, 2022 Springhouse at Newport News — 22,176 The Brodie 34,825 — 3.71 % Fixed December 1, 2023 The Preserve at Henderson Beach 36,989 — 4.65 % Fixed January 5, 2023 Village Green of Ann Arbor 41,547 42,326 3.92 % Fixed October 1, 2022 Total 716,153 382,017 Fair value adjustments 1,364 1,620 Deferred financing costs, net (6,942 ) (3,535 ) Total mortgages payable 710,575 380,102 (1) ARIUM at Palmer Ranch loan bears interest at a floating rate of 2.17% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.79%. (2) ARIUM Grandewood principal balance includes the initial advance of $29.44 million at a floating rate of 1.67% plus one month LIBOR and a $4.85 million supplemental loan at a floating rate of 2.74% plus one month LIBOR. At December 31, 2016, the interest rates on the initial advance and supplemental loan were 2.29% and 3.36%, respectively. (3) ARIUM Gulfshore loan bears interest at a floating rate of 2.17% plus one month LIBOR. At December 31, 2016, the interest rate was 2.79%. (4) ARIUM Palms loan bears interest at a floating rate of 2.22% plus one month LIBOR. At December 31, 2016, the interest rate was 2.84%. (5) Ashton Reserve II loan bears interest at a floating rate of 2.62% plus one-month LIBOR. At December 31, 2016, the interest rate was 3.24%. (6) The principal includes a $16.8 million loan at a fixed rate of 3.97% and a $7.9 million supplemental loan at a fixed rate of 5.01%. (7) Lansbrook Village loan bears interest at a floating rate of 2.44% plus one month LIBOR. At December 31, 2016, the interest rate was 3.06%. (8) The principal includes a $15.3 million loan at a fixed rate of 3.21% and a $3.2 million supplemental loan at a fixed rate of 4.34%. (9) Nevadan loan bears interest at a floating rate of 2.48% plus one month LIBOR. At December 31, 2016, the interest rate was 3.10% (10) Sorrel loan bears interest at a floating rate of 2.29% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.91%.
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]	As of December 31, 2016, contractual principal payments for the five subsequent years and thereafter are as follows (amounts in thousands): Year Total 2017 $ 3,071 2018 3,648 2019 5,655 2020 27,693 2021 10,692 Thereafter 665,394 $ 716,153 Add: Unamortized fair value debt adjustment 1,364 Subtract: Deferred financing costs (6,942 ) Total $ 710,575

Related Party Transactions (Tab

Related Party Transactions (Tables)	12 Months Ended
	Dec. 31, 2016
Related Party Transactions [Abstract]
Schedule Of Related Party Transactions [Table Text Block]	Pursuant to the terms of the Management Agreement, summarized below are the related party amounts payable to our Former Advisor and the Manager, as of December 31, 2016 and 2015. December 31, December 31, Amounts Payable to the Manager under the Management Agreement Base management fee 2,015 1,133 Operating expense reimbursements and direct expense reimbursements 274 218 Offering expense reimbursements 120 — Total amounts payable to Manager $ 2,409 $ 1,351

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	12 Months Ended
	Dec. 31, 2016
Stockholders Equity Note [Abstract]
Schedule of Earnings Per Share, Basic and Diluted [Table Text Block]	The following table reconciles the components of basic and diluted net loss (income) per common share (amounts in thousands, except share and per share amounts): Year Ended December 31, 2016 2015 2014 (In thousands, except per share data) Income (loss) from continuing operations $ (2,974 ) $ 7,643 $ (6,674 ) Net (income) loss from continuing operations attributable to noncontrolling interest (1,355 ) (5,855 ) 1,386 Preferred share dividends and accretion (14,656 ) (1,153 ) — Dividends on restricted stock expected to vest (4 ) (16 ) (7 ) Income (loss) from continuing operations attributable to BRG $ (18,989 ) $ 619 $ (5,295 ) Income from discontinued operations — — 116 Income from discontinued operations attributable to BRG — — 116 Net income (loss) attributable to common stockholders $ (18,989 ) $ 619 $ (5,179 ) Weighted average shares outstanding, basic (1) 20,805,852 17,404,348 5,381,787 Potential dilutive shares (2) — 12,850 — Weighted average shares outstanding, diluted (1) 20,805,852 17,417,198 5,381,787 Earnings (loss) per common share, basic Continuing operations $ (0.91 ) $ 0.04 $ (0.98 ) Discontinued operations — — 0.02 $ (0.91 ) $ 0.04 $ (0.96 ) Earnings (loss) per common share, diluted Continuing operations $ (0.91 ) $ 0.04 $ (0.98 ) Discontinued operations — — 0.02 $ (0.91 ) $ 0.04 $ (0.96 ) (1) For 2016, amounts relate to shares of the Company’s Class A and B-3 common stock and LTIP Units outstanding. For 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, and B-3 common stock and LTIP Units outstanding. (2) Excludes 4,282 shares of common stock for the year ended December 31, 2016, related to non-vested restricted stock, as the effect would be anti-dilutive. Excludes 5,280 shares of Class B common stock for the year ended December 31, 2014 related to non-vested restricted stock, as the effect would be anti-dilutive.
Schedule of Share-based Compensation, Stock Options, Activity [Table Text Block]	A summary of the status of the Company’s non-vested shares as of December 31, 2016, 2015 and 2014, is as follows (dollars in thousands): Non-Vested shares Shares (1) Weighted average (1) Balance at January 1, 2014 6,593 $ 22.75 Granted — — Vested (2,637 ) 22.75 Forfeited — — Balance at December 31, 2014 3,956 22.75 Granted 15,000 13.15 Vested (4,480 ) 17.39 Forfeited — — Balance at December 31, 2015 14,476 $ 14.46 Granted 7,500 10.33 Vested (21,317 ) 12.75 Forfeited — — Balance at December 31, 2016 659 $ 22.75 (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 Dividends Payable [Table Text Block]	Distributions Declaration Date Payable to stockholders Amount Date Paid or Payable Class A common stock October 7, 2015 December 25, 2015 $ 0.096667 January 5, 2016 January 13, 2016 January 25, 2016 $ 0.096666 February 5, 2016 January 13, 2016 February 25, 2016 $ 0.096667 March 5, 2016 January 13, 2016 March 24 2016 $ 0.096667 April 5, 2016 April 8, 2016 April 25, 2016 $ 0.096666 May 5, 2016 April 8, 2016 May 25, 2016 $ 0.096667 June 6, 2016 April 8, 2016 June 24, 2016 $ 0.096667 July 5, 2016 July 8, 2016 July 25, 2016 $ 0.096666 August 5, 2016 July 8, 2016 August 25, 2016 $ 0.096667 September 5, 2016 July 8, 2016 September 23, 2016 $ 0.096667 October 5, 2016 October 4, 2016 October 25, 2016 $ 0.096666 November 4, 2016 October 4, 2016 November 25, 2016 $ 0.096667 December 5, 2016 October 4, 2016 December 23, 2016 $ 0.096667 January 5, 2017 Class B-3 common stock October 7, 2015 December 25, 2015 $ 0.096667 January 5, 2016 January 13, 2016 January 25, 2016 $ 0.096666 February 5, 2016 January 13, 2016 February 25, 2016 $ 0.096667 March 5, 2016 Series A Preferred Stock December 14, 2015 December 24, 2015 $ 0.401000 January 5, 2016 March 11, 2016 March 24, 2016 $ 0.515625 April 5, 2016 June 10, 2016 June 24, 2016 $ 0.515625 July 5, 2016 September 9, 2016 September 23, 2016 $ 0.515625 October 5, 2016 December 9, 2016 December 23, 2016 $ 0.515625 January 5, 2017 Series B Preferred Stock April 15, 2016 April 25, 2016 $ 5.00 May 5, 2016 May 13, 2016 May 25, 2016 $ 5.00 June 3, 2016 June 10, 2016 June 24, 2016 $ 5.00 July 5, 2016 July 8, 2016 July 25, 2016 $ 5.00 August 5, 2016 July 8, 2016 August 25, 2016 $ 5.00 September 5, 2016 July 8, 2016 September 23, 2016 $ 5.00 October 5, 2016 October 4, 2016 October 25, 2016 $ 5.00 November 4, 2016 October 4, 2016 November 25, 2016 $ 5.00 December 5, 2016 October 4, 2016 December 23, 2016 $ 5.00 January 5, 2017 Series C Preferred Stock September 9, 2016 September 23, 2016 $ 0.39184 October 5, 2016 December 9, 2016 December 23, 2016 $ 0.4765625 January 5, 2017 Series D Preferred December 9, 2016 December 23, 2016 $ 0.3859 January 5, 2017
Schedule of Distributions Made to Members or Limited Partners, by Distribution [Table Text Block]	Distributions paid for the year ended December 31, 2016 were as follows (amounts in thousands): Distributions 2016 Declared Paid First Quarter Class A Common Stock $ 5,604 $ 5,569 Class B-3 Common Stock 68 102 Series A Preferred Stock 1,482 1,153 OP Units 89 89 LTIP Units 283 270 Total first quarter $ 7,526 $ 7,183 Second Quarter Class A Common Stock $ 5,674 $ 5,674 Series A Preferred Stock 2,951 1,481 Series B Preferred Stock 18 8 OP Units 89 89 LTIP Units 328 319 Total second quarter $ 9,060 $ 7,571 Third Quarter Class A Common Stock $ 5,674 $ 5,674 Series A Preferred Stock 2,950 2,951 Series B Preferred Stock 88 54 Series C Preferred Stock 902 — OP Units 88 89 LTIP Units 394 348 Total third quarter $ 10,096 $ 9,116 Fourth Quarter Class A Common Stock $ 5,674 $ 5,674 Series A Preferred Stock 2,950 2,950 Series B Preferred Stock 215 164 Series C Preferred Stock 1,107 902 Series D Preferred Stock 1,100 — OP Units 87 87 LTIP Units 450 454 Total fourth quarter $ 11,583 $ 10,231 Total year $ 38,265 $ 34,101

Selected Quarterly Financial 31

Selected Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2016
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Information [Table Text Block]	The following table sets forth summarized quarterly financial data for the year ended December 31, 2016: Quarters Ended 2016 March 31 June 30 September 30 December 31 (In thousands, except per share amounts) Total revenue $ 16,634 $ 18,399 $ 19,624 $ 22,394 Operating (loss) income $ (1,165 ) $ (147 ) $ 1,188 $ (913 ) Net (loss) income $ (2,625 ) $ (1,961 ) $ 1,568 $ 39 Net loss available to common shareholders $ (4,135 ) $ (5,043 ) $ (2,551 ) $ (7,260 ) Loss per common share, basic: (1) $ (0.20 ) $ (0.24 ) $ (0.12 ) $ (0.34 ) Loss per common share, diluted: (1) $ (0.20 ) $ (0.24 ) $ (0.12 ) $ (0.34 ) (1) EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2016. The following table sets forth summarized quarterly financial data for the year ended December 31, 2015: Quarters Ended 2015 March 31 (1) June 30 (1) September 30 (1) December 31 (1) (In thousands, except per share amounts) Total revenue $ 9,036 $ 10,469 $ 11,560 $ 13,200 Operating (loss) income $ (420 ) $ 701 $ (12 ) $ (1,883 ) Net income (loss) $ 9,347 $ (704 ) $ (602 ) $ (398 ) Net income (loss) available to common shareholders $ 3,313 $ (582 ) $ (574 ) $ (1,523 ) Earnings (loss) per common share, basic: (1) $ 0.26 $ (0.04 ) $ (0.03 ) $ (0.07 ) Earnings (loss) per common share, diluted: (1) $ 0.26 $ (0.04 ) $ (0.03 ) $ (0.07 ) (1) EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2015.

Subsequent Events (Tables)

Subsequent Events (Tables)	12 Months Ended
	Dec. 31, 2016
Subsequent Events [Abstract]
Schedule of Subsequent Events [Table Text Block]	The following distributions have been paid subsequent to December 31, 2016 (amounts in thousands): Shares Declaration Date Record Date Date Paid Distributions Total Class A Common Stock October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 1,892 Series A Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.5156250 $ 2,950 Series B Preferred Stock October 4, 2016 December 23, 2016 January 5, 2017 $ 5.0000000 $ 95 Series C Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.4765625 $ 1,107 Series D Preferred Stock December 9, 2016 December 23, 2016 January 5, 2017 $ 0.3859000 $ 1,100 OP Units October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 29 LTIP Units October 4, 2016 December 23, 2016 January 5, 2017 $ 0.0966670 $ 155 Class A Common Stock January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 2,336 Series B Preferred Stock January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 119 OP Units January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 29 LTIP Units January 13, 2017 January 25, 2017 February 3, 2017 $ 0.096666 $ 155 Total $ 9,967

Organization and Nature of Bu33

Organization and Nature of Business (Details Textual)	12 Months Ended
	Dec. 31, 2016
Organization and Nature of Business [Line Items]
Percent of Real Estate Properties Occupied	94.00%
Number of Units in Real Estate Property	9,570
Annual Distribution Percentage Rate	90.00%
Operating Units [Member]
Organization and Nature of Business [Line Items]
Number of Units in Real Estate Property	6,972
Under Development [Member]
Organization and Nature of Business [Line Items]
Number of Units in Real Estate Property	2,598

Basis of Presentation and Sum34

Basis of Presentation and Summary of Significant Accounting Policies (Details Textual) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Accounting Policies [Line Items]
Selling Commissions And Dealer Manager Fees Percentage Rate Range Maximum	7.00%
Selling Commissions And Dealer Manager Fees Percentage Rate Range Minimum	3.00%
Selling Commission Percentage	50.00%
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest			42.20%
Percentage Of Minimum Distributions Of Taxable Income	90.00%
Selling Commissions And Dealer Manager Fees Percentage Rate	10.00%
Common Stock Holders [Member]
Accounting Policies [Line Items]
Percentage Of Distributions Classified As Return On Capital	100.00%	99.46%	91.80%
Percentage Of Distributions Classified As Capital Gains		0.54%	8.20%
Preferred Stock Holders [Member]
Accounting Policies [Line Items]
Percentage Of Distributions Classified As Return On Capital	91.05%
Percentage Of Distributions Classified As Capital Gains	8.95%
Accounting Standards Update 2015-03 [Member]
Accounting Policies [Line Items]
New Accounting Pronouncement or Change in Accounting Principle, Cumulative Effect of Change on Equity or Net Assets		$ 3.5
Building [Member] | Maximum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Building [Member] | Minimum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	30 years
Building Improvements [Member] | Maximum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	15 years
Building Improvements [Member] | Minimum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	5 years
Land Improvements [Member] | Maximum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	15 years
Land Improvements [Member] | Minimum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	5 years
Furniture and Fixtures [Member] | Maximum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	7 years
Furniture and Fixtures [Member] | Minimum [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
In Place Leases [Member]
Accounting Policies [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	6 months
OP LTIP unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	8.86%
OP Unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	1.39%
LTIP Unit [Member]
Accounting Policies [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest	7.47%

Real Estate Assets Held for S35

Real Estate Assets Held for Sale, Discontinued Operations and Sale of Joint Venture Equity Interests (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Expenses
Loss on early extinguishment of debt	$ (2,393)	$ 0	$ 0
Income from discontinued operations	$ 0	$ 0	116
Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Total revenues			508
Expenses
Property operating expenses			(177)
Depreciation and amortization			(184)
Management fees			(8)
Interest expense, net			(149)
Loss on operations of rental property			(10)
Gain on sale of joint venture interest			1,006
Loss on early extinguishment of debt			(880)
Income from discontinued operations			$ 116

Real Estate Assets Held for S36

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	Aug. 10, 2016	Oct. 16, 2015	Dec. 18, 2014	Mar. 28, 2014	Dec. 31, 2016	Dec. 31, 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
Sale Of Joint Venture Real Estate Ownership Percentage						24.70%
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]
Disposition Fees				$ 0.3
Proceeds from Sale of Real Estate Gross				18.2
Payments for Mortgage on Real Estate Sold				$ 11.5
Limited Liability Company (LLC) or Limited Partnership (LP), Managing Member or General Partner, Ownership Interest				100.00%
Net Proceeds From Divestiture Of Interest In Joint Venture		$ 1.7		$ 6.6
Gain On Sale Of Equity Interests		$ 0.6		$ 2.7
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 Unaffiliated		$ 26
BRG Grove [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage					60.00%
Sale Of Joint Venture Real Estate 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 Unaffiliated					$ 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 Unaffiliated	$ 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
Newport News property [Member]
Real Estate Assets Held for Development and Sale [Line Items]
Sale of joint venture ownership percentage			25.00%
Disposition Fees			$ 0.5
Proceeds from Sale of Real Estate Gross			38
Payments for Mortgage on Real Estate Sold			25.4
Proceeds from Sale of Real Estate			9
Gain (Loss) on Disposition of Assets			$ 4.9

Investments in Real Estate (Det

Investments in Real Estate (Details)	12 Months Ended
	Dec. 31, 2016
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	2,598
Alexan CityCentre, Houston, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	340
Anticipated Initial Occupancy	2Q 2017
Anticipated Construction Completion	4Q 2017
Alexan Southside Place, Houston, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	270
Anticipated Initial Occupancy	4Q 2017
Anticipated Construction Completion	2Q 2018
APOK Townhomes, Boca Raton, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	90
Anticipated Initial Occupancy	1Q 2018
Anticipated Construction Completion	3Q 2018
Crescent Perimeter, Atlanta, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	320
Anticipated Initial Occupancy	3Q 2018
Anticipated Construction Completion	1Q 2019
Domain, Garland, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	299
Anticipated Initial Occupancy	3Q 2018
Anticipated Construction Completion	1Q 2019
Flagler Village, Ft. Lauderdale, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	384
Anticipated Initial Occupancy	3Q 2019
Anticipated Construction Completion	3Q 2020
Helios, formerly known as Cheshire Bridge, Atlanta, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	285
Anticipated Initial Occupancy	2Q 2017
Anticipated Construction Completion	4Q 2017
Lake Boone Trail, Raleigh NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	245
Anticipated Initial Occupancy	1Q 2018
Anticipated Construction Completion	3Q 2018
Vickers Village, Roswell, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	79
Anticipated Initial Occupancy	1Q 2018
Anticipated Construction Completion	3Q 2018
West Morehead, Charlotte, NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	286
Anticipated Initial Occupancy	4Q 2018
Anticipated Construction Completion	2Q 2019
ARIUM at Palmer Ranch, Sarasota, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	320
Year Build/Renovated	2,016	[1]
Ownership Interest	95.00%
ARIUM Grandewood, Orlando, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	306
Year Build/Renovated	2,005	[1]
Ownership Interest	95.00%
ARIUM Gulfshore, Naples, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	368
Year Build/Renovated	2,016	[1]
Ownership Interest	95.00%
ARIUM Palms, Orlando, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	252
Year Build/Renovated	2,008	[1]
Ownership Interest	95.00%
ARIUM Pine Lakes, Port St. Lucie, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	320
Year Build/Renovated	2,003	[1]
Ownership Interest	85.00%
ARIUM Westside, Atlanta, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	336
Year Build/Renovated	2,008	[1]
Ownership Interest	90.00%
Ashton Reserve, Charlotte, NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	473
Year Build/Renovated	2,015	[1]
Ownership Interest	100.00%
Enders at Baldwin Park, Orlando, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	220
Year Build/Renovated	2,003	[1]
Ownership Interest	89.50%
Fox Hill, Austin, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	288
Year Build/Renovated	2,010	[1]
Ownership Interest	94.60%
Lansbrook Village, Palm Harbor, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	619
Year Build/Renovated	2,004	[1]
Ownership Interest	90.00%
Legacy at Southpark, Austin, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	250
Year Build/Renovated	2,016	[1]
Ownership Interest	90.00%
MDA Apartments, Chicago, IL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	190
Year Build/Renovated	2,006	[1]
Ownership Interest	35.30%
Nevadan, Atlanta, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	480
Year Build/Renovated	1,990	[1]
Ownership Interest	90.00%
Park & Kingston, Charlotte, NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	168
Year Build/Renovated	2,015	[1]
Ownership Interest	96.00%
Roswell City Walk, Roswell, GA [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	320
Year Build/Renovated	2,015	[1]
Ownership Interest	98.00%
Sorrel, Frisco, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	352
Year Build/Renovated	2,015	[1]
Ownership Interest	95.00%
Sovereign, Fort Worth, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	322
Year Build/Renovated	2,015	[1]
Ownership Interest	95.00%
The Preserve at Henderson Beach, Destin, FL [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	340
Year Build/Renovated	2,009	[1]
Ownership Interest	100.00%
The Brodie, formerly referred to as Deerfield, Austin, TX [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	324
Year Build/Renovated	2,001	[1]
Ownership Interest	92.50%
Village Green of Ann Arbor, Ann Arbor, MI [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	520
Year Build/Renovated	2,013	[1]
Ownership Interest	48.60%
Whetstone, Durham, NC [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	204
Year Build/Renovated	2,015	[1]
Ownership Interest		[2]
Average [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
Number of Units	6,972
[1]	Represents date of last significant renovation or year built if there were no renovations.
[2]	Whetstone is currently a preferred equity investment providing a stated investment return.

Acquisition of Real Estate (Det

Acquisition of Real Estate (Details) $ in Thousands	Dec. 31, 2016USD ($)
Preliminary Purchase Price Allocation
Land	$ 68,153
Building	370,785
Building improvements	10,989
Land improvements	15,895
Furniture and fixtures	7,886
In-place leases	10,719
Total assets acquired	484,427
Mortgages assumed	37,476
Fair value adjustments	1,578
Total liabilities acquired	$ 39,054

Acquisition of Real Estate (D39

Acquisition of Real Estate (Details 1) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended												12 Months Ended
		Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	[1]	Sep. 30, 2015	[1]	Jun. 30, 2015	[1]	Mar. 31, 2015	[1]	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Business Acquisition [Line Items]
Revenues		$ 22,394	$ 19,624	$ 18,399	$ 16,634	$ 13,200		$ 11,560		$ 10,469		$ 9,036		$ 77,051	$ 44,255	$ 30,363
Net (loss) income		39	1,568	(1,961)	(2,625)	(398)		(602)		(704)		9,347		(2,974)	7,643	(6,558)
Net (loss) income attributable to common stockholders		$ (7,260)	$ (2,551)	$ (5,043)	$ (4,135)	$ (1,523)		$ (574)		$ (582)		$ 3,313		(18,985)	635	$ (5,172)
Scenario, Previously Reported [Member]
Business Acquisition [Line Items]
Revenues														77,051	44,255
Net (loss) income														(2,974)	7,643
Net (loss) income attributable to common stockholders														$ (18,985)	$ 635
Earnings per share, basic and diluted (in dollars per share)	[2]													$ (0.91)	$ 0.04
Scenario, Adjustment [Member]
Business Acquisition [Line Items]
Revenues														$ 23,152	$ 45,414
Net (loss) income														2,802	(24,970)
Net (loss) income attributable to common stockholders														2,756	(23,521)
Pro Forma [Member]
Business Acquisition [Line Items]
Revenues														100,203	89,669
Net (loss) income														(172)	(17,327)
Net (loss) income attributable to common stockholders														$ (16,229)	$ (22,886)
Earnings per share, basic and diluted (in dollars per share)	[2]													$ (0.78)	$ (1.31)
[1]	EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2015.
[2]	Pro-forma earnings per share, both basic and diluted, are calculated based on the net income (loss) attributable to BRG.

Acquisition of Real Estate (D40

Acquisition of Real Estate (Details Textual) $ in Thousands

Dec. 12, 2016USD ($)

Dec. 01, 2016USD ($)

Nov. 10, 2016USD ($)

Oct. 13, 2016USD ($)

Jul. 14, 2016USD ($)

Mar. 15, 2016USD ($)

Dec. 20, 2016USD ($)

Dec. 15, 2016USD ($)

Oct. 31, 2016USD ($)

May 31, 2016USD ($)

Dec. 31, 2015USD ($)

Nov. 30, 2015USD ($)

Aug. 20, 2015USD ($)

May 31, 2015USD ($)

Mar. 26, 2015USD ($)

Mar. 16, 2015USD ($)

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Jan. 05, 2016USD ($)

Dec. 14, 2015USD ($)

Oct. 29, 2015USD ($)

Aug. 19, 2015USD ($)

Business Acquisition [Line Items]

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

100.00%

10.00%

Business Acquisition Indirect Ownership, Amount

$ 2,900

Aggregate Property Level Revenues And Recent Acquisitions

$ 46,900

Aggregate Property Level Net Income And Recent Acquisitions

6,100

Noncash or Part Noncash Acquisition, Debt Assumed

39,054

$ 32,942

$ 116,800

Equity Method Investment, Ownership Percentage

49.90%

Payments to Acquire Interest in Joint Venture

$ 4,200

Payments To Acquire Equity Method Investments

26,864

65,093

10,135

Other Liabilities

$ 1,300

2,200

1,300

Depreciation

23,600

12,400

8,400

Amortization of Intangible Assets

$ 7,600

3,800

$ 4,500

Nivedan Apartments [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

480

Payments to Acquire Interest in Joint Venture

$ 22,800

Business Acquisition, Percentage of Voting Interests Acquired

90.00%

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

$ 68,250

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 48,400

The Brodie [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

324

Payments to Acquire Interest in Joint Venture

$ 15,300

Business Acquisition, Percentage of Voting Interests Acquired

92.50%

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

$ 48,900

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 34,800

Roswell City Walk [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

320

Payments to Acquire Interest in Joint Venture

$ 25,500

Business Acquisition, Percentage of Voting Interests Acquired

98.00%

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

$ 76,000

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 51,000

Phase II [Member]

Business Acquisition [Line Items]

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

100.00%

Number of Real Estate Properties, Fee Simple

15

Lansbrook [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 3,700

$ 3,700

Fund III [Member]

Business Acquisition [Line Items]

Purchase Of Interest In Joint Venture

4.00%

Phase II Units [Member]

Business Acquisition [Line Items]

Payments to Acquire Interest in Joint Venture

$ 100

Minimum [Member] | Lansbrook [Member]

Business Acquisition [Line Items]

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

76.80%

Maximum [Member] | Lansbrook [Member]

Business Acquisition [Line Items]

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

90.00%

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%

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%

Park Kingston Phase I Units [Member] | Senior Secured Mortgage Loan [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 15,250

Fox Hill [Member]

Business Acquisition [Line Items]

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

85.27%

Number of Real Estate Properties, Fee Simple

288

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%

Business Acquisition Indirect Ownership, Amount

38,150

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%

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]

Number of Real Estate Properties, Fee Simple

151

322

Business Acquisition Indirect Ownership, Amount

$ 13,500

Equity Method Investment, Ownership Percentage

0.00%

Ashton I [Member] | Founded [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%

Number of Real Estate Properties, Fee Simple

252

Business Acquisition Indirect Ownership, Amount

$ 13,000

ARIUM Palms [Member] | Founded [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

$ 21,800

Ashton II [Member] | Senior Secured Mortgage Loan [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 15,300

Sorrel [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

320

322

Business Acquisition Indirect Ownership, Amount

$ 47,000

$ 55,300

Long-term Investments, Total

$ 15,900

17,700

Equity Method Investment, Ownership Percentage

95.00%

Sorrel [Member] | Senior Secured Mortgage Loan [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 32,600

$ 38,700

Sovereign [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

352

Business Acquisition Indirect Ownership, Amount

39,300

$ 44,400

Long-term Investments, Total

15,200

Sovereign [Member] | Senior Secured Mortgage Loan [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 26,900

$ 28,900

Sorrel and Sovereign [Member]

Business Acquisition [Line Items]

Equity Method Investment, Ownership Percentage

95.00%

Citation Club Apartments [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

368

Long-term Investments, Total

$ 13,600

Preserve At Henderson Beach [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

340

Business Acquisition Indirect Ownership, Amount

$ 53,700

Long-term Investments, Total

17,200

Preserve At Henderson Beach [Member] | Senior Secured Mortgage Loan [Member]

Business Acquisition [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 37,500

ARIUM Westside Atlanta GA [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

336

Long-term Investments, Total

$ 22,200

Equity Method Investment, Ownership Percentage

90.00%

Business Combination, Consideration Transferred

$ 74,500

Mortgage Loans on Real Estate, Carrying Amount of Mortgages

$ 52,200

ARIUM Pine Lakes [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

320

Payments to Acquire Interest in Joint Venture

$ 11,300

Business Acquisition, Percentage of Voting Interests Acquired

85.00%

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

$ 38,300

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 27,000

Legacy At Southpark [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

250

Payments to Acquire Interest in Joint Venture

$ 10,400

Business Acquisition, Percentage of Voting Interests Acquired

90.00%

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

$ 36,800

Business Combination, Recognized Identifiable Assets Acquired and Liabilities Assumed, Noncurrent Liabilities, Long-term Debt

$ 26,500

Vickers Village [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

79

Business Acquisition, Percentage of Voting Interests Acquired

80.00%

Payments To Acquire Equity Method Investments

$ 8,500

Crescent Perimeter [Member]

Business Acquisition [Line Items]

Number of Real Estate Properties, Fee Simple

320

Business Acquisition, Percentage of Voting Interests Acquired

60.00%

Payments To Acquire Equity Method Investments

$ 15,200

Notes and Interest Receivable41

Notes and Interest Receivable due from Related Party (Details Textual) - USD ($)	1 Months Ended
	Dec. 31, 2016	Dec. 29, 2016
BR Morehead JV , LLC [Member]
Due from Related Parties		$ 21,300,000
Related Party Transaction, Interest Rate Description		The Company has the right to exercise an option to purchase, at the greater of a 25 basis point discount to fair market value or 15% internal rate of return for Fund II, up to a 100% common membership interest in BR Morehead JV Member (the mezzanine borrower), which is 99.5% owned by Fund II and which currently holds an approximate 95.0% interest in the West Morehead JV and in the West Morehead property, subject to certain promote rights of our unaffiliated development partner.
Related Party Transaction, Rate		15.00%
West Morehead Development [Member]
Due from Related Parties		$ 34,500,000
Due from Related Parties, Current	$ 0.01
Related Party Transaction, Date	Dec. 29, 2019
Related Party Transaction, Interest Rate Description	The West Morehead Construction Loan bears interest on a floating basis on the amount drawn based on LIBOR plus 3.75%, subject to a minimum of 4.25%. Regular monthly payments are interest-only until September 2019, with further payments based on twenty-five-year amortization. The West Morehead Construction Loan can be prepaid without penalty.
Nationwide Mutual Fire Insurance Company [Member]
Due from Related Parties		$ 7,300,000
Related Party Transaction, Date		Dec. 29, 2019
Related Party Transaction, Interest Rate Description		The loan bears interest at a fixed rate of 11.5%. Regular monthly payments are interest-only. The loan can be prepaid prior to maturity provided the lender receives a cumulative return of 30% of its loan amount including all principal and interest paid

Investments in Unconsolidated42

Investments in Unconsolidated Real Estate Joint Ventures (Details) - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 91,132	$ 75,223
Alexan CityCentre [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	7,733	6,505
Alexan Southside Place [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	17,322	17,322
APOK Townhomes [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	7,569	0
Helios, formerly known as Cheshire Bridge [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	16,360	16,360
Name [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	5,249	3,806
EOS [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	0	3,629
Flagler Village [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	14,035	5,451
Lake Boone Trail [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	9,919	9,919
West Morehead [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	13	0
Whetstone [Member]
Schedule of Equity Method Investments [Line Items]
Equity Method Investments	$ 12,932	$ 12,231

Investments in Unconsolidated43

Investments in Unconsolidated Real Estate Joint Ventures (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	$ 11,632	$ 6,590	$ 1,066
Alexan CityCentre [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	1,085	976	388
Alexan Southside Place [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	2,605	1,996	0
APOK Townhomes [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	226	0	0
Name [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	614	64	0
EOS [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	530	544	230
Flagler Village [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	(6)	(5)	0
Helios, formerly known as Cheshire Bridge [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	2,461	1,383	0
Lake Boone Trail [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	1,492	44
Villas at Oak Crest [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	0	489	322
West Morehead [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	677	0	0
Whetstone [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	1,948	1,131	0
Other [Member]
Schedule of Equity Method Investments [Line Items]
Equity in income of unconsolidated real estate joint ventures	$ 0	$ (32)	$ 126

Investments in Unconsolidated44

Investments in Unconsolidated Real Estate Joint Ventures (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Balance Sheets:
Real estate, net of depreciation	$ 197,742	$ 132,265
Other assets	33,814	24,737
Total assets	231,556	157,002
Mortgage payable	97,598	55,066
Other liabilities	13,191	5,018
Total liabilities	110,789	60,084
Members’ equity	120,767	96,918
Total liabilities and members’ equity	231,556	157,002
Operating Statements:
Rental revenues	5,993	2,765	$ 7,214
Operating expenses	(3,101)	(2,776)	(3,190)
Income (loss) before debt service, acquisition costs, and depreciation and amortization	2,892	(11)	4,024
Interest expense, net	(1,409)	(756)	(1,648)
Acquisition costs	(3)	(66)	(2)
Depreciation and amortization	(2,881)	(2,009)	(1,970)
Operating (loss) income	(1,401)	(2,842)	404
Gain on sale	16,733	29,200	2,498
Net income	$ 15,332	$ 26,358	$ 2,902

Investments in Unconsolidated45

Investments in Unconsolidated Real Estate Joint Ventures (Details Textual)

Nov. 10, 2016USD ($)

Jun. 07, 2016USD ($)

Mar. 15, 2016USD ($)

Apr. 07, 2015USD ($)

Jan. 12, 2015

Dec. 29, 2016USD ($)

Jun. 23, 2016USD ($)

Dec. 16, 2015USD ($)

Dec. 31, 2016USD ($)

Jan. 06, 2016

Dec. 31, 2015USD ($)

Dec. 18, 2015

Nov. 20, 2015

May 29, 2015

May 20, 2015USD ($)

Equity Method Investment And Joint Venture [Line Items]

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

100.00%

10.00%

Equity Method Investment, Ownership Percentage

49.90%

Preferred ship Interest Return At Annual Rate

15.00%

Percentage Of Preferred ship Interest

70.00%

Bridge Loan

$ 25,200,000

Proceeds from Construction Loans Payable

$ 18,700,000

$ 38,100,000

Debt Instrument, Maturity Date

Jun. 29, 2019

Long-term Line of Credit

7,900,000

Payments to Acquire Interest in Joint Venture

$ 4,200,000

Equity Method Investments

$ 91,132,000

$ 75,223,000

Interest Rate Floor [Member]

Equity Method Investment And Joint Venture [Line Items]

Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate

4.125%

Founded [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Face Amount

$ 31,800,000

$ 10,000

Debt Instrument, Description of Variable Rate Basis

based on the base rate plus 1.25% or LIBOR plus 2.25%

Debt Instrument, Maturity Date

Apr. 7, 2019

Alexan Southside Place Construction Financing [Member]

Equity Method Investment And Joint Venture [Line Items]

Loans Receivable Additional Equity Contribution By Borrower To Development Cost

$ 700,000

Prime Rate [Member]

Equity Method Investment And Joint Venture [Line Items]

Long-term Debt, Percentage Bearing Variable Interest, Percentage Rate

0.625%

Bluerock Growth Fund II [Member]

Equity Method Investment And Joint Venture [Line Items]

Expected Return On Related Party Debt

20.00%

20.00%

Proceeds from Related Party Debt

$ 1,300,000

BRG Whetstone Durham LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 12,900,000

Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage

100.00%

Expected Return On Related Party Debt

20.00%

Equity Method Investments

$ 1,200,000

BRG Whetstone Durham LLC [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

204

BRG Cheshire LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

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

100.00%

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 16,400,000

BRG Cheshire LLC [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

285

Alexan CityCentre [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

340

BRG Southside LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 17,300,000

Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage

100.00%

Ground Lease Term

85 years

BRG Southside LLC [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

270

Fund II LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

Payments to Acquire Interest in Joint Venture

8,200,000

Acquisition of Phase 1 Interest [Member]

Equity Method Investment And Joint Venture [Line Items]

Capital Commitment

$ 24,400,000

Percentage of Acquire Preferred Equity Interests

100.00%

Funded Amount

$ 5,200,000

Acquisition of Phase 1 Interest [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

299

Acquisition of Flagler Village Interest [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

384

Capital Commitment

58,200,000

Funded Amount

14,000,000

Acquisition of Lake Boone Trail [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

245

Capital Commitment

$ 12,300,000

Percentage of Acquire Preferred Equity Interests

100.00%

Funded Amount

$ 9,900,000

BR Orlando JV [Member]

Equity Method Investment And Joint Venture [Line Items]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 3,600,000

BR Morehead JV , LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

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

100.00%

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 24,700,000

$ 6,500,000

Due from Related Parties

$ 21,300,000

BR Morehead JV , LLC [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

286

Alexan CityCentre Construction Loan Modification [Member]

Equity Method Investment And Joint Venture [Line Items]

Loans Receivable Additional Equity Contribution By Borrower To Development Cost

700,000

Alexan CityCentre Construction Loan Modification [Member] | Interest Reserve [Member]

Equity Method Investment And Joint Venture [Line Items]

Loans and Leases Receivable, Collateral for Secured Borrowings

2,600,000

Alexan CityCentre Construction Loan Modification [Member] | Construction Loan Payable [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Description of Variable Rate Basis

the prime rate plus 0.5%, or LIBOR plus 3.00%

Debt Instrument, Maturity Date

Jan. 1, 2020

Construction Loan

$ 25,400,000

Loans Receivable Additional Equity Contribution By Borrower To Development Cost

2,200,000

Construction Loan Allocated to Operating Expenses

600,000

Long-term Construction Loan

55,100,000

Debt Instrument, Periodic Payment, Principal

$ 60,000

BR TC BLVD JV,LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 7,700,000

Business Combination, Step Acquisition, Equity Interest in Acquiree, Percentage

100.00%

BR Boca JV, LLC [Member]

Equity Method Investment And Joint Venture [Line Items]

Capital Commitment

$ 11,200,000

Funded Amount

$ 7,300,000

EOS [Member]

Equity Method Investment And Joint Venture [Line Items]

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

100.00%

Proceeds from Construction Loans Payable

$ 27,000,000

Stock Conversion Percentage

31.00%

Payment Of Closing Cost And Fee

$ 900,000

Convertible Preferred Stock Converted to Other Securities

3,600,000

Venture Capital Gain (Loss), Net

3,800,000

Proceeds from Divestiture of Interest in Joint Venture

52,000,000

Proceeds from Divestiture of Businesses

$ 5,100,000

EOS [Member] | Common Class A [Member]

Equity Method Investment And Joint Venture [Line Items]

Number of Real Estate Properties, Fee Simple

296

Whetstone Apartment property [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Maturity Date

Nov. 1, 2023

Long-term Debt, Percentage Bearing Fixed Interest, Percentage Rate

3.81%

Percentage Of Prepayment Premium

1.00%

Flagler Village [Member]

Equity Method Investment And Joint Venture [Line Items]

Long-term Line of Credit

$ 6,000,000

West Morehead [Member]

Equity Method Investment And Joint Venture [Line Items]

Preferred ship Interest Return At Annual Rate

0.50%

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 6,500,000

Domain [Member]

Equity Method Investment And Joint Venture [Line Items]

Long-term Line of Credit

$ 1,900,000

KeyBank Land Loan [Member]

Equity Method Investment And Joint Venture [Line Items]

Business Combination, Step Acquisition, Equity Interest in Acquiree, Fair Value

$ 6,500,000

Debt Instrument, Face Amount

$ 14,900,000

Debt Instrument, Description of Variable Rate Basis

LIBOR plus 3.75% or the base rate plus 2.75%

Debt Instrument, Maturity Date

Mar. 14, 2017

Citizens Bank [Member] | Lake Boone Construction Financing [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Maturity Date

Dec. 23, 2019

Construction Loan

$ 25,200,000

Debt Instrument, Basis Spread on Variable Rate

2.65%

26.50%

The PrivateBank and Trust Company [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Description of Variable Rate Basis

one-month LIBOR plus 2.50%

Debt Instrument, Maturity Date

Dec. 16, 2018

Construction Loan

$ 13,800,000

Key Bank National Association [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Maturity Date

May 14, 2017

Key Bank National Association [Member] | EOS [Member]

Equity Method Investment And Joint Venture [Line Items]

Debt Instrument, Face Amount

$ 27,500,000

Debt Instrument, Basis Spread on Variable Rate

0.00%

Long-term Debt

$ 27,000,000

Mortgages Payable (Details)

Mortgages Payable (Details) - USD ($) $ in Thousands

Dec. 01, 2016

Nov. 10, 2016

Oct. 13, 2016

Jul. 14, 2016

Mar. 15, 2016

Jan. 05, 2016

Dec. 29, 2016

Dec. 15, 2016

Oct. 31, 2016

Aug. 30, 2016

May 27, 2016

Dec. 31, 2016

Dec. 31, 2015

Line of Credit Facility [Line Items]

Maturity Date

Jun. 29, 2019

Mortgages [Member]

Line of Credit Facility [Line Items]

Total

$ 716,153

$ 382,017

Fair value adjustments

1,364

1,620

Deferred financing costs, net

(6,942)

(3,535)

Total mortgages payable

$ 710,575

380,102

ARIUM at Palmer Ranch [Member]

Line of Credit Facility [Line Items]

Interest Rate

2.79%

Maturity Date

Feb. 1, 2023

ARIUM at Palmer Ranch [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 26,925

0

Interest Rate

2.79%

Fixed/Floating

[1]

Floating

Maturity Date

Feb. 1, 2023

ARIUM Grandewood [Member]

Line of Credit Facility [Line Items]

Maturity Date

Dec. 1, 2024

ARIUM Grandewood [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 34,294

29,444

Interest Rate

2.45%

Fixed/Floating

[2]

Floating

Maturity Date

Dec. 1, 2024

ARIUM Gulfshore [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 32,626

0

Interest Rate

2.79%

Fixed/Floating

[3]

Floating

Maturity Date

Feb. 1, 2023

ARIUM Palms [Member]

Line of Credit Facility [Line Items]

Interest Rate

2.84%

ARIUM Palms [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 24,999

24,999

Interest Rate

2.84%

Fixed/Floating

[4]

Floating

Maturity Date

Sep. 1, 2022

ARIUM Pine Lakes [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.95%

Maturity Date

Nov. 1, 2023

ARIUM Pine Lakes [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 26,950

0

Interest Rate

3.95%

Fixed/Floating

Fixed

Maturity Date

Nov. 1, 2023

ARIUM Westside [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.68%

Maturity Date

Aug. 1, 2023

ARIUM Westside [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 52,150

0

Interest Rate

3.68%

Fixed/Floating

Fixed

Maturity Date

Aug. 1, 2023

Ashton I [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 31,900

31,900

Interest Rate

4.67%

Fixed/Floating

Fixed

Maturity Date

Dec. 1, 2025

Ashton II [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.24%

Ashton II [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 15,270

15,270

Interest Rate

3.24%

Fixed/Floating

[5]

Floating

Maturity Date

Jan. 1, 2026

Enders Place at Baldwin Park [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

[6]

$ 24,732

25,155

Interest Rate

[6]

4.30%

Fixed/Floating

[6]

Fixed

Maturity Date

[6]

Nov. 1, 2022

Fox Hills [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 26,705

26,705

Interest Rate

3.57%

Fixed/Floating

Fixed

Maturity Date

Apr. 1, 2022

Lansbrook Village [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.06%

Lansbrook Village [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 57,190

43,628

Interest Rate

3.06%

Fixed/Floating

[7]

Floating

Maturity Date

Aug. 1, 2026

Legacy At Southpark [Member]

Line of Credit Facility [Line Items]

Interest Rate

4.35%

Maturity Date

Jan. 1, 2024

Legacy At Southpark [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 26,500

0

Interest Rate

4.35%

Fixed/Floating

Fixed

Maturity Date

Jan. 1, 2024

MDA Apartments [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 37,124

37,600

Interest Rate

5.35%

Fixed/Floating

Fixed

Maturity Date

Jan. 1, 2023

Nevadan [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.10%

Maturity Date

Nov. 1, 2023

Nevadan [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 48,431

0

Interest Rate

3.10%

Fixed/Floating

[8]

Floating

Maturity Date

Nov. 1, 2023

Park & Kingston [Member]

Line of Credit Facility [Line Items]

Maturity Date

Apr. 1, 2020

Park & Kingston [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

[9]

$ 18,432

15,250

Interest Rate

[9]

3.41%

Fixed/Floating

[9]

Fixed

Maturity Date

[9]

Apr. 1, 2020

Roswell City Walk [Member]

Line of Credit Facility [Line Items]

Interest Rate

3.63%

Maturity Date

Dec. 1, 2026

Roswell City Walk [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 51,000

0

Interest Rate

3.63%

Fixed/Floating

Fixed

Maturity Date

Dec. 1, 2026

Sorrel [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 38,684

38,684

Interest Rate

2.91%

Fixed/Floating

[10]

Floating

Maturity Date

May 1, 2023

Sovereign [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 28,880

28,880

Interest Rate

3.46%

Fixed/Floating

Fixed

Maturity Date

Nov. 10, 2022

Springhouse at Newport News [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 0

22,176

The Brodie [Member]

Line of Credit Facility [Line Items]

Maturity Date

Dec. 1, 2023

The Brodie [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 34,825

0

Interest Rate

3.71%

Fixed/Floating

Fixed

Maturity Date

Dec. 1, 2023

The Preserve at Henderson Beach [Member]

Line of Credit Facility [Line Items]

Maturity Date

Jan. 5, 2023

The Preserve at Henderson Beach [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 36,989

0

Interest Rate

4.65%

Fixed/Floating

Fixed

Maturity Date

Jan. 5, 2023

Village Green Ann Arbor [Member] | Mortgages [Member]

Line of Credit Facility [Line Items]

Total Outstanding Principal

$ 41,547

$ 42,326

Interest Rate

3.92%

Fixed/Floating

Fixed

Maturity Date

Oct. 1, 2022

[1]

ARIUM at Palmer Ranch loan bears interest at a floating rate of 2.17% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.79%.

[2]

ARIUM Grandewood principal balance includes the initial advance of $29.44 million at a floating rate of 1.67% plus one month LIBOR and a $4.85 million supplemental loan at a floating rate of 2.74% plus one month LIBOR. At December 31, 2016, the interest rates on the initial advance and supplemental loan were 2.29% and 3.36%, respectively.

[3]

ARIUM Gulfshore loan bears interest at a floating rate of 2.17% plus one month LIBOR. At December 31, 2016, the interest rate was 2.79%.

[4]

ARIUM Palms loan bears interest at a floating rate of 2.22% plus one month LIBOR. At December 31, 2016, the interest rate was 2.84%.

[5]

Ashton Reserve II loan bears interest at a floating rate of 2.62% plus one-month LIBOR. At December 31, 2016, the interest rate was 3.24%.

[6]

The principal includes a $17.0 million loan at a fixed rate of 3.97% and a $7.9 million supplemental loan at a fixed rate of 5.01%.

[7]

Lansbrook Village loan bears interest at a floating rate of 2.44% plus one month LIBOR. At December 31, 2016, the interest rate was 3.06%.

[8]

Nevadan loan bears interest at a floating rate of 2.48% plus one month LIBOR. At December 312, 2016, the interest rate was 3.10%

[9]

The principal includes a $15.3 million loan at a fixed rate of 3.21% and a $3.2 million supplemental loan at a fixed rate of 4.34%.

[10]

Sorrel loan bears interest at a floating rate of 2.29% plus one-month LIBOR. At December 31, 2016, the interest rate was 2.91%.

Mortgages Payable (Details 1)

Mortgages Payable (Details 1) - ARIUM Grandewood [Member] $ in Thousands	Dec. 31, 2016USD ($)
Debt Disclosure [Abstract]
2,017	$ 3,071
2,018	3,648
2,019	5,655
2,020	27,693
2,021	10,692
Thereafter	665,394
Long-term Debt	716,153
Add: Unamortized fair value debt adjustment	1,364
Subtract: Deferred financing costs	(6,942)
Total	$ 710,575

Mortgages Payable (Details Text

Mortgages Payable (Details Textual) - USD ($) $ in Thousands

Dec. 12, 2016

Dec. 01, 2016

Nov. 10, 2016

Oct. 13, 2016

Jul. 14, 2016

Jul. 08, 2016

Mar. 15, 2016

Jan. 05, 2016

Dec. 29, 2016

Dec. 22, 2016

Dec. 15, 2016

Oct. 31, 2016

Aug. 30, 2016

May 27, 2016

Dec. 16, 2015

Dec. 31, 2016

Dec. 31, 2015

Dec. 31, 2014

Line of Credit Facility [Line Items]

Debt Instrument, Maturity Date

Jun. 29, 2019

Real Estate Investments, Net, Total

$ 987,077

$ 533,383

Proceeds from Construction Loans Payable

$ 18,700

$ 38,100

Payments of Financing Costs

4,672

1,819

$ 2,119

Amortization of Debt Issuance Costs

1,300

500

400

Amortization Of Debt Discount (Premium)

(362)

$ (295)

$ (282)

Enders [Member] | Loans Payable [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 16,800

Debt Instrument, Interest Rate, Stated Percentage

3.97%

Enders [Member] | Supplemental Loan [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 7,900

Debt Instrument, Interest Rate, Stated Percentage

5.01%

Lansbrook [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.06%

Debt Instrument, Description of Variable Rate Basis

bears interest at a floating rate of 2.44% plus one month LIBOR

ARIUM Grandewood [Member]

Line of Credit Facility [Line Items]

Secured Long-term Debt, Noncurrent

$ 4,900

Debt Instrument, Maturity Date

Dec. 1, 2024

Percentage Reduction In Prepayment Premium

1.00%

Debt Instrument, Basis Spread on Variable Rate

2.74%

ARIUM Grandewood [Member] | Initial Advance [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.29%

Secured Long-term Debt, Noncurrent

$ 29,440

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 1.67% plus one month LIBOR

ARIUM Grandewood [Member] | Supplemental Loan [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.36%

Secured Long-term Debt, Noncurrent

$ 4,850

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 2.74% plus one month LIBOR

Park Kingston [Member]

Line of Credit Facility [Line Items]

Secured Long-term Debt, Noncurrent

$ 3,200

Debt Instrument, Maturity Date

Apr. 1, 2020

Percentage Of Prepayment Premium

1.00%

Debt Instrument, Basis Spread on Variable Rate

4.34%

Park Kingston [Member] | Loans Payable [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 15,300

Debt Instrument, Interest Rate, Stated Percentage

3.21%

Park Kingston [Member] | Supplemental Loan [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 3,200

Debt Instrument, Interest Rate, Stated Percentage

4.34%

ARIUM Palms [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.84%

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 2.22% plus one month LIBOR

Ashton II [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.24%

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 2.62% plus one-month LIBOR

ARIUM Gulfshore, Naples, FL [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.79%

Secured Long-term Debt, Noncurrent

$ 32,600

Debt Instrument, Maturity Date

Feb. 1, 2023

Percentage Reduction In Prepayment Premium

1.00%

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 2.17% plus one month LIBOR

Debt Instrument, Basis Spread on Variable Rate

2.17%

ARIUM at Palmer Ranch [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.79%

Secured Long-term Debt, Noncurrent

$ 26,900

Debt Instrument, Maturity Date

Feb. 1, 2023

Percentage Reduction In Prepayment Premium

1.00%

Debt Instrument, Description of Variable Rate Basis

at a floating rate of 2.17% plus one-month LIBOR

Debt Instrument, Basis Spread on Variable Rate

2.17%

The Preserve at Henderson Beach, Destin, FL [Member]

Line of Credit Facility [Line Items]

Secured Long-term Debt, Noncurrent

$ 37,500

Debt Instrument, Maturity Date

Jan. 5, 2023

Percentage Reduction In Prepayment Premium

1.00%

Debt Instrument, Basis Spread on Variable Rate

4.65%

Lansbrook Village Property [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Maturity Date

Aug. 1, 2026

Percentage Of Prepayment Premium

1.00%

Debt Instrument, Description of Variable Rate Basis

bears interest on a floating basis based on LIBOR plus 2.44%, with interest only payments until August 1, 2020

Proceeds from Construction Loans Payable

$ 57,200

Repayments of Construction Loans Payable

44,400

Payments of Financing Costs

$ 900

Nevadan [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 48,400

Debt Instrument, Interest Rate, Stated Percentage

3.10%

Debt Instrument, Maturity Date

Nov. 1, 2023

Debt Instrument, Description of Variable Rate Basis

bears interest on a floating basis on the amount drawn based on LIBOR plus 2.48%, capped at 5.50%.

bears interest at a floating rate of 2.48% plus one month LIBOR

Debt Instrument, Payment Terms

Regular monthly payments are interest-only to November 1, 2019, with future payments based on 30-year amortization. After October 31, 2017, the loan can be prepaid with a 1% prepayment fee until July 31, 2023, and thereafter at par.

Sorrel Loan [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

2.91%

Debt Instrument, Description of Variable Rate Basis

bears interest at a floating rate of 2.29% plus one-month LIBOR

ARIUM Westside [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 52,200

Debt Instrument, Interest Rate, Stated Percentage

3.68%

Debt Instrument, Maturity Date

Aug. 1, 2023

Debt Instrument, Payment Terms

with interest only payments until August 31, 2021, with future payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until July 31, 2021, and thereafter at par.

ARIUM Pine Lakes [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 27,000

Debt Instrument, Interest Rate, Stated Percentage

3.95%

Debt Instrument, Maturity Date

Nov. 1, 2023

Debt Instrument, Payment Terms

Regular monthly payments are interest-only. After October 31, 2018, the loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until May 1, 2023, and thereafter at par.

Deerfield [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Interest Rate, Stated Percentage

3.71%

Roswell City Walk [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 51,000

Debt Instrument, Interest Rate, Stated Percentage

3.63%

Debt Instrument, Maturity Date

Dec. 1, 2026

Debt Instrument, Payment Terms

Fixed monthly principal and interest payments are based on 30-year amortization. After December 1, 2021 the loan may be prepaid with the greater of yield maintenance or a 1% prepayment fee through July 31, 2026, and thereafter at par.

Legacy At Southpark [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 26,500

Debt Instrument, Interest Rate, Stated Percentage

4.35%

Debt Instrument, Maturity Date

Jan. 1, 2024

Debt Instrument, Payment Terms

with interest only payments until January 31, 2019, with future payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until June 30, 2023, and thereafter at par.

Crescent Perimeter [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 44,700

Debt Instrument, Maturity Date

Dec. 12, 2020

Debt Instrument, Description of Variable Rate Basis

The loan bears interest at a rate of LIBOR plus 3.00%

Debt Instrument, Payment Terms

with interest only payments until December 12, 2020, with future payments based on 30-year amortization. The loan can be prepaid without penalty.

Vickers Village [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 18,000

Debt Instrument, Maturity Date

Dec. 1, 2020

Debt Instrument, Description of Variable Rate Basis

The loan bears interest at a rate of LIBOR plus 3.00%

Debt Instrument, Payment Terms

with interest only payments until December 1, 2018, with future payments based on 25-year amortization. The loan can be prepaid without penalty

Brodie [Member]

Line of Credit Facility [Line Items]

Debt Instrument, Face Amount

$ 34,800

Debt Instrument, Maturity Date

Dec. 1, 2023

Debt Instrument, Payment Terms

with interest only payments until December 31, 2018, and thereafter will require principal and interest payments based on 30-year amortization. The loan can be prepaid with the greater of 1% prepayment fee or yield maintenance until May 31, 2023, and thereafter at par.

Fair Value of Financial Instr49

Fair Value of Financial Instruments (Details Textual) - USD ($) $ in Millions	Dec. 31, 2016	Dec. 31, 2015
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Mortgage Payable At Carrying Value	$ 717.5	$ 383.6
Long-term Debt, Fair Value	$ 714.8	$ 387.1

Related Party Transactions (Det

Related Party Transactions (Details) - Manager [Member] - USD ($) $ in Thousands	Dec. 31, 2016	Dec. 31, 2015
Related Party Transaction [Line Items]
Total related-party amounts payable	$ 2,409	$ 1,351
Base management fee [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	2,015	1,133
Operating Expense Reimbursements and Direct Expense Reimbursements [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	274	218
Offering expense reimbursements [Member]
Related Party Transaction [Line Items]
Total related-party amounts payable	$ 120	$ 0

Related Party Transactions (D51

Related Party Transactions (Details Textual) - USD ($) $ / shares in Units, $ in Thousands		Nov. 11, 2016	Aug. 09, 2016	May 10, 2016	Mar. 15, 2016	Sep. 14, 2015	Jul. 02, 2015	Aug. 03, 2016	Apr. 30, 2016	Dec. 31, 2015	May 31, 2015	Apr. 30, 2015	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Related Party Transaction [Line Items]
Base Management Fee Expense													$ 2,000	$ 1,700				$ 6,400	$ 3,300	$ 700
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)										$ 0.01			$ 0.01				$ 0.01	$ 0.01	$ 0.01
Due From Affiliates Excluding Former Advisor										$ 900			$ 900				$ 900	$ 900	$ 900
Compensation Percent Of Stockholders Equity													0.25%					0.25%
Management Agreement, Agreement Termination Minimum Stockholders Equity													$ 250,000					$ 250,000
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										100			$ 0				100	$ 0	100
Incentive Fee Expense														$ 150		$ 1,200
Reimbursement Of Organizational And Offering Costs																		600
Management Fee Expense																		$ 6,510	$ 4,185	$ 1,004
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest					100.00%													10.00%
Stock Issued During Period, Shares, Share-based Compensation, Gross		12,679
Additional Collateral, Aggregate Fair Value													152,300					$ 152,300
Issuance of Preferred Stock, Commission Fee Percentage																		10.00%
Issuance Of Preferred Stock Dealer Manager Fee Percentage																		10.00%
Due to Correspondent Brokers													600					$ 600
Commissions Payable to Broker-Dealers and Clearing Organizations													1,500					$ 1,500
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1]																	7,500	15,000	0
Payments To Acquire Equity Method Investments																		$ 26,864	$ 65,093	$ 10,135
General and Administrative Expense [Member]
Related Party Transaction [Line Items]
Reimbursement Of Organizational And Offering Costs																	300
Management Fee Expense																		400	900	1,000
Due to Related Parties													$ 1,180					1,180
Allocated Share-based Compensation Expense																		$ 2,400	1,000
Park Kingston [Member]
Related Party Transaction [Line Items]
Payments To Acquire Equity Method Investments											$ 6,500
Fox Hills [Member]
Related Party Transaction [Line Items]
Payments To Acquire Equity Method Investments											$ 1,100
Long-term Incentive Plan Units [Member]
Related Party Transaction [Line Items]
Base Management Fee Expense															$ 1,400
Long Term Incentive Plan Units Granted																		179,562
Share Price													$ 13.72					$ 13.72
Long Term Incentive Plan Units Vested									59,854			59,854
Stock Issued During Period, Shares, Share-based Compensation, Gross		139,321	105,036	108,045														146,865
Partners' Capital Account, Units, Sale of Units, Total						108,119
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross							283,390
Manager [Member]
Related Party Transaction [Line Items]
Incentive Fee Expense																		$ 200	900	150
Due to Related Parties										$ 1,351			$ 2,409				$ 1,351	$ 2,409	$ 1,351
External Manager [Member] | 2014 Inventive Plan [Member]
Related Party Transaction [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period								176,610
Villas at Oak Crest [Member]
Related Party Transaction [Line Items]
Other Ownership Interests, Units Issued										22,809							22,809		22,809
North Park Towers [Member]
Related Party Transaction [Line Items]
Management Fee Expense																			$ 100	$ 100
Lansbrook [Member]
Related Party Transaction [Line Items]
Payments To Acquire Equity Method Investments										$ 3,700
Common Class A [Member]
Related Party Transaction [Line Items]
Preferred Stock, Par Or Stated Value Per Share (in dollars per share)						$ 0.01
Compensation Percent Of Stockholders Equity													1.50%					1.50%
Series B Preferred Stock [Member]
Related Party Transaction [Line Items]
Reimbursement Of Offering Costs																		$ 130
Minimum [Member] | Park Kingston [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest											46.95%
Minimum [Member] | Fox Hills [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest											85.27%
Minimum [Member] | Lansbrook [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest										76.80%
Maximum [Member] | Park Kingston [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest											96.00%
Maximum [Member] | Fox Hills [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest											94.62%
Maximum [Member] | Lansbrook [Member]
Related Party Transaction [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest										90.00%
[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)

Stockholders' Equity (Details) - USD ($) $ / shares in Units, $ in Thousands		3 Months Ended																12 Months Ended
		Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015	[1]	Sep. 30, 2015	[1]	Jun. 30, 2015	[1]	Mar. 31, 2015	[1]	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Earnings Per Share, Basic, by Common Class, Including Two Class Method [Line Items]
Income (loss) from continuing operations																		$ (2,974)	$ 7,643	$ (6,674)
Net (income) loss from continuing operations attributable to noncontrolling interest																		1,355	5,855	(1,386)
Preferred share dividends and accretion																		(14,656)	(1,153)	0
Dividends on restricted stock expected to vest																		(4)	(16)	(7)
Income (loss) from continuing operations attributable to BRG																		(18,989)	619	(5,295)
Income from discontinued operations																		0	0	116
Income from discontinued operations attributable to BRG																		0	0	116
Net income (loss) attributable to common stockholders		$ (7,260)		$ (2,551)		$ (5,043)		$ (4,135)		$ (1,523)		$ (574)		$ (582)		$ 3,313		$ (18,985)	$ 635	$ (5,172)
Weighted average shares outstanding, basic (in shares)	[2]																	20,805,852	17,404,348	5,381,787
Potential dilutive shares	[3]																	0	12,850	0
Weighted average shares outstanding, diluted (in shares)	[2]																	20,805,852	17,417,198	5,381,787
Basic Earnings Per Share
Continuing operations (in dollars per share)																		$ (0.91)	$ 0.04	$ (0.98)
Discontinued operations (in dollars per share)																		0	0	0.02
Earnings (loss) per common share, basic (in dollars per share)		$ (0.34)	[4]	$ (0.12)	[4]	$ (0.24)	[4]	$ (0.20)	[4]	$ (0.07)		$ (0.03)		$ (0.04)		$ 0.26		(0.91)	0.04	(0.96)
Earnings (loss) per common share, diluted
Continuing operations (in dollars per share)																		(0.91)	0.04	(0.98)
Discontinued operations (in dollars per share)																		0	0	0.02
Earnings (loss) per common share, diluted (in dollars per share)		$ (0.34)	[4]	$ (0.12)	[4]	$ (0.24)	[4]	$ (0.20)	[4]	$ (0.07)		$ (0.03)		$ (0.04)		$ 0.26		$ (0.91)	$ 0.04	$ (0.96)
[1]	EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2015.
[2]	For 2016, amounts relate to shares of the Company’s Class A and B-3 common stock and LTIP Units outstanding, 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, and B-3 common stock and LTIP Units outstanding.
[3]	Excludes 4,282 shares of common stock for the year ended December 31, 2016, related to non-vested restricted stock, as the effect would be anti-dilutive. Excludes 5,280 shares of Class B common stock for the year ended December 31, 2014 related to non-vested restricted stock, as the effect would be anti-dilutive.
[4]	EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2016.

Stockholders' Equity (Details 1

Stockholders' Equity (Details 1) - $ / shares		12 Months Ended
		Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Non Vested shares, Balance (in shares)	[1]	14,476	3,956	6,593
Non Vested shares, Granted (in shares)	[1]	7,500	15,000	0
Non Vested shares, Vested (in shares)	[1]	(21,317)	(4,480)	(2,637)
Non Vested shares, Forfeited (in shares)	[1]	0	0	0
Non Vested shares, Balance (in shares)	[1]	659	14,476	3,956
Weighted average grant-date fair value, Balance (in dollars)	[1]	$ 14.46	$ 22.75	$ 22.75
Weighted average grant-date fair value, Granted (in dollars)	[1]	10.33	13.15	0
Weighted average grant-date fair value, Vested (in dollars)	[1]	12.75	17.39	22.75
Weighted average grant-date fair value, Forfeited (in dollars)	[1]	0	0	0
Weighted average grant-date fair value, Balance (in dollars)	[1]	$ 22.75	$ 14.46	$ 22.75
[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)	12 Months Ended
	Dec. 31, 2016$ / shares
Common Class A [Member]
Declaration Date	Oct. 7, 2015
Payable to stockholders of record as of	Dec. 25, 2015
Amount	$ 0.096667
Date Paid	Jan. 5, 2016
Common Class A One [Member]
Declaration Date	Jan. 13, 2016
Payable to stockholders of record as of	Jan. 25, 2016
Amount	$ 0.096666
Date Paid	Feb. 5, 2016
Common Class A Two [Member]
Declaration Date	Jan. 13, 2016
Payable to stockholders of record as of	Feb. 25, 2016
Amount	$ 0.096667
Date Paid	Mar. 5, 2016
Common Class A Three [Member]
Declaration Date	Jan. 13, 2016
Payable to stockholders of record as of	Mar. 24, 2016
Amount	$ 0.096667
Date Paid	Apr. 5, 2016
Common Class A Four [Member]
Declaration Date	Apr. 8, 2016
Payable to stockholders of record as of	Apr. 25, 2016
Amount	$ 0.096666
Date Paid	May 5, 2016
Common Class A Five [Member]
Declaration Date	Apr. 8, 2016
Payable to stockholders of record as of	May 25, 2016
Amount	$ 0.096667
Date Paid	Jun. 6, 2016
Common Class A Six [Member]
Declaration Date	Apr. 8, 2016
Payable to stockholders of record as of	Jun. 24, 2016
Amount	$ 0.096667
Date Paid	Jul. 5, 2016
Common Class A Seven [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Jul. 25, 2016
Amount	$ 0.096666
Date Paid	Aug. 5, 2016
Common Class A Eight [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Aug. 25, 2016
Amount	$ 0.096667
Date Paid	Sep. 5, 2016
Common Class A Nine [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Sep. 23, 2016
Amount	$ 0.096667
Date Paid	Oct. 5, 2016
Common Class A Ten [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Oct. 25, 2016
Amount	$ 0.096666
Date Paid	Nov. 4, 2016
Common Class A Eleven [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Nov. 25, 2016
Amount	$ 0.096667
Date Paid	Dec. 5, 2016
Common Class A Twelve [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Dec. 23, 2016
Amount	$ 0.096667
Date Paid	Jan. 5, 2017
Common Class B 3 [Member]
Declaration Date	Oct. 7, 2015
Payable to stockholders of record as of	Dec. 25, 2015
Amount	$ 0.096667
Date Paid	Jan. 5, 2016
Common Class B 3 One [Member]
Declaration Date	Jan. 13, 2016
Payable to stockholders of record as of	Jan. 25, 2016
Amount	$ 0.096666
Date Paid	Feb. 5, 2016
Common Class B 3 Two [Member]
Declaration Date	Jan. 13, 2016
Payable to stockholders of record as of	Feb. 25, 2016
Amount	$ 0.096667
Date Paid	Mar. 5, 2016
Series A Preferred Stock [Member]
Declaration Date	Dec. 14, 2015
Payable to stockholders of record as of	Dec. 24, 2015
Amount	$ 0.401000
Date Paid	Jan. 5, 2016
Series A Preferred Stock One [Member]
Declaration Date	Mar. 11, 2016
Payable to stockholders of record as of	Mar. 24, 2016
Amount	$ 0.515625
Date Paid	Apr. 5, 2016
Series A Preferred Stock Two [Member]
Declaration Date	Jun. 10, 2016
Payable to stockholders of record as of	Jun. 24, 2016
Amount	$ 0.515625
Date Paid	Jul. 5, 2016
Series A Preferred Stock Three [Member]
Declaration Date	Sep. 9, 2016
Payable to stockholders of record as of	Sep. 23, 2016
Amount	$ 0.515625
Date Paid	Oct. 5, 2016
Series A Preferred Stock Four [Member]
Declaration Date	Dec. 9, 2016
Payable to stockholders of record as of	Dec. 23, 2016
Amount	$ 0.515625
Date Paid	Jan. 5, 2017
Series B Preferred Stock [Member]
Declaration Date	Apr. 15, 2016
Payable to stockholders of record as of	Apr. 25, 2016
Amount	$ 5
Date Paid	May 5, 2016
Series B Preferred Stock One [Member]
Declaration Date	May 13, 2016
Payable to stockholders of record as of	May 25, 2016
Amount	$ 5
Date Paid	Jun. 3, 2016
Series B Preferred Stock Two [Member]
Declaration Date	Jun. 10, 2016
Payable to stockholders of record as of	Jun. 24, 2016
Amount	$ 5
Date Paid	Jul. 5, 2016
Series B Preferred Stock Three [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Jul. 25, 2016
Amount	$ 5
Date Paid	Aug. 5, 2016
Series B Preferred Stock Four [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Aug. 25, 2016
Amount	$ 5
Date Paid	Sep. 5, 2016
Series B Preferred Stock Five [Member]
Declaration Date	Jul. 8, 2016
Payable to stockholders of record as of	Sep. 23, 2016
Amount	$ 5
Date Paid	Oct. 5, 2016
Series B Preferred Stock Six [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Oct. 25, 2016
Amount	$ 5
Date Paid	Nov. 4, 2016
Series B Preferred Stock Seven [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Nov. 25, 2016
Amount	$ 5
Date Paid	Dec. 5, 2016
Series B Preferred Stock Eight [Member]
Declaration Date	Oct. 4, 2016
Payable to stockholders of record as of	Dec. 23, 2016
Amount	$ 5
Date Paid	Jan. 5, 2017
Series C Preferred Stock [Member]
Declaration Date	Sep. 9, 2016
Payable to stockholders of record as of	Sep. 23, 2016
Amount	$ 0.39184
Date Paid	Oct. 5, 2016
Series C Preferred Stock One [Member]
Declaration Date	Dec. 9, 2016
Payable to stockholders of record as of	Dec. 23, 2016
Amount	$ 0.4765625
Date Paid	Jan. 5, 2017
Series D Preferred Stock [Member]
Declaration Date	Dec. 9, 2016
Payable to stockholders of record as of	Dec. 23, 2016
Amount	$ 0.3859
Date Paid	Jan. 5, 2017

Stockholders' Equity (Details 3

Stockholders' Equity (Details 3) - USD ($) $ in Thousands	3 Months Ended				12 Months Ended
	Dec. 31, 2016	Sep. 30, 2016	Jun. 30, 2016	Mar. 31, 2016	Dec. 31, 2016
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	$ 11,583	$ 10,096	$ 9,060	$ 7,526	$ 38,265
Distributions Paid	10,231	9,116	7,571	7,183	$ 34,101
Common Class A [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	5,674	5,674	5,674	5,604
Distributions Paid	5,674	5,674	5,674	5,569
Common Class B-3 [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared				68
Distributions Paid				102
Series A Preferred Stock [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	2,950	2,950	2,951	1,482
Distributions Paid	2,950	2,951	1,481	1,153
Series B Preferred Stock [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	215	88	18
Distributions Paid	164	54	8
Series C Preferred Stock [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	1,107	902
Distributions Paid	902	0
Series D Preferred Stock [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	1,100
Distributions Paid	0
Operating Partnership Units [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	87	88	89	89
Distributions Paid	87	89	89	89
Long-term Incentive Plan Units [Member]
Distribution Made to Unit-holder Of Limited Partnership [Line Items]
Distributions Declared	450	394	328	283
Distributions Paid	$ 454	$ 348	$ 319	$ 270

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - USD ($)		Oct. 13, 2016	Sep. 14, 2016	Aug. 03, 2016	Mar. 15, 2016	Jul. 02, 2015	Sep. 09, 2013	Aug. 05, 2013	Jul. 19, 2016	May 26, 2016	Apr. 25, 2016	Mar. 24, 2016	Mar. 17, 2016	Feb. 24, 2016	Dec. 17, 2015	Oct. 21, 2015	Sep. 19, 2015	May 22, 2015	Mar. 24, 2015	Mar. 23, 2015	Jan. 20, 2015	Mar. 28, 2014	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Aug. 08, 2016	Mar. 31, 2016	Mar. 29, 2016	Feb. 22, 2016	Jan. 13, 2016	Jan. 12, 2016	Sep. 14, 2015	May 28, 2015
Class of Stock [Line Items]
Share- Based Compensation Restricted Stock Issued To Directors (in shares)								2,500																	5,000
Unrecognized Stock Based Compensation																							$ 8,750
Proceeds From Issuance Of Common Stock							$ 22,600,000																$ 51,000	$ 131,321,000	$ 76,864,000
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest					100.00%																		10.00%
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period	[1]																						7,500	15,000	0
Employee Service Share-based Compensation, Nonvested Awards, Compensation Cost Not yet Recognized, Period for Recognition																							7 months 6 days
Stock Issued During Period, Value, New Issues																								$ 131,321,000	$ 92,055,000
Preferred Stock, Par or Stated Value Per Share																							$ 0.01	$ 0.01
Preferred Stock, Redemption Fee, Percentage																													13.00%
Preferred Stock, Redemption Fee, Percentage, After One Year																													10.00%
Preferred Stock, Redemption Fee, Percentage, After Three Year																													5.00%
Preferred Stock, Redemption Fee, Percentage, After Four Year																													3.00%
Maximum Amount Of Securities To Be Issued																															$ 1,000,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Grant Date Fair Value												$ 100,000												$ 7,500
Class of Warrant or Right, Outstanding																							21,482
Stock Issued During Period, Shares, Other																							23,750
Share-based Compensation																							$ 210,000	126,000	$ 48,000
December 2014 Shelf Registration Statement Offering [Member]
Class of Stock [Line Items]
Preferred Stock, Capital Shares Reserved for Future Issuance															150,000
Public Offering [Member]
Class of Stock [Line Items]
Shares Issued, Price Per Share									$ 25	$ 25	$ 25					$ 25
Stock Issued During Period, Value, New Issues									$ 55,300,000	$ 9,500,000	$ 55,300,000					$ 69,200,000
Preferred Stock, Capital Shares Reserved for Future Issuance														150,000
General and Administrative Expense [Member]
Class of Stock [Line Items]
Allocated Share-based Compensation Expense																							$ 2,400,000	$ 1,000,000
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																							8.86%		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																							1.39%		4.59%
Partners' Capital Account, Units, Beginning Balance																							297,861		282,759
LTIP Unit holders [Member]
Class of Stock [Line Items]
Limited Liability Company (LLC) or Limited Partnership (LP), Members or Limited Partners, Ownership Interest																							7.47%		5.28%
Partners' Capital Account, Units, Beginning Balance																							1,603,527		325,578
Common Class B One [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted																				353,630
Common Class B Two [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted																	353,630
Common Class B Three [Member]
Class of Stock [Line Items]
Conversion of Stock, Shares Converted													353,629
Common Class A [Member]
Class of Stock [Line Items]
Proceeds From Issuance Of Common Stock																		$ 77,600,000			$ 53,700,000
Stockholders' Equity, Reverse Stock Split																							Immediately following the filing of the Second Charter Amendment, the Company effectuated 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.
Stock Issued During Period, Shares, New Issues																		6,348,000			4,600,000		4,265	10,948,664	7,531,188
Common Stock, Par or Stated Value Per Share																		$ 0.01			$ 0.01		$ 0.01	$ 0.01
Sale of Stock, Price Per Share																		$ 13			$ 12.50
Stock Issued During Period, Value, New Issues																							$ 51,000	$ 109,000	$ 75,000
Common Stock, Shares Authorized																							747,586,185	747,586,185						2,262,621
Preferred Stock, Par or Stated Value Per Share																																$ 0.01
Preferred Stock, Value, Issued																										$ 100,000,000
Class of Warrant or Right, Number of Securities Called by Warrants or Rights																							429,640
Proceeds from Issuance or Sale of Equity																							$ 19,300,000
Proceeds from Issuance Initial Public Offering																						$ 44,000,000
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other Than Options, Grants in Period, Grant Date Fair Value												$ 7,500
Common Class A [Member] | IPO [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues																						3,448,276
Shares Issued, Price Per Share																						$ 14.50
Proceeds From Issuance Initial Public Offering Gross																						$ 50,000,000
Series A Cumulative Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues																2,875,000
Preferred Stock, Dividend Rate, Percentage																8.25%							8.25%
Shares Issued, Price Per Share																$ 0.01
Preferred Stock, Liquidation Preference Per Share																$ 25
Preferred Stock, Increase in Annual Dividend Rate																							2.00%
Preferred Stock, Redemption Price Per Share																							$ 25
Series A Cumulative Redeemable Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Preferred Stock, Increase in Annual Dividend Rate																							14.00%
Original Series B Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Liquidation Preference Per Share														$ 1,000	$ 1,000
Preferred Stock, Capital Shares Reserved for Future Issuance														150,000	150,000
Warrants to Purchase of Common Stock														3,000,000	3,000,000
Series A Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues										400,000	2,300,000
Preferred Stock, Dividend Rate, Percentage																							8.25%
Preferred Stock, Value, Issued																											$ 100,000	$ 100,000,000
Proceeds from Issuance of Preferred Stock and Preference Stock																							$ 68,524,000	$ 69,165,000	0
Proceeds from Issuance of Redeemable Convertible Preferred Stock																							$ 3,600,000
Stock Issued During Period, Shares, Other																							146,460
Series B Preferred Stock [Member]
Class of Stock [Line Items]
Proceeds from Issuance of Preferred Stock and Preference Stock																							$ 18,789,000	0	0
Stock Issued During Period, Shares, Other																							21,482
Series C Cumulative Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues									2,300,000
Preferred Stock, Dividend Rate, Percentage									7.625%
Shares Issued, Price Per Share									$ 0.01
Preferred Stock, Liquidation Preference Per Share									25
Series C Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage																							7.625%
Preferred Stock, Value, Issued			$ 36,000,000
Proceeds from Issuance of Preferred Stock and Preference Stock																							$ 55,978,000	$ 0	$ 0
Proceeds from Issuance of Redeemable Convertible Preferred Stock																							$ 600,000
Stock Issued During Period, Shares, Other			23,750
Series D Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		150,602																					0	0	0
Preferred Stock, Dividend Rate, Percentage																							7.125%
Stock Issued During Period, Value, New Issues																							$ 0	$ 0	$ 0
Proceeds from Issuance of Preferred Stock and Preference Stock		$ 3,700,000																					$ 68,760,000	$ 0	$ 0
Series C Cumulative Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Preferred Stock, Dividend Rate, Percentage																							7.625%
Preferred Stock, Increase in Annual Dividend Rate																							2.00%
Preferred Stock, Redemption Price Per Share									$ 25
Series C Cumulative Redeemable Preferred Stock [Member] | Maximum [Member]
Class of Stock [Line Items]
Preferred Stock, Increase in Annual Dividend Rate																							14.00%
Series D Cumulative Redeemable Preferred Stock [Member]
Class of Stock [Line Items]
Stock Issued During Period, Shares, New Issues		2,700,000
Preferred Stock, Dividend Rate, Percentage		7.125%																					7.125%
Shares Issued, Price Per Share		$ 25
Preferred Stock, Liquidation Preference Per Share		25
Preferred Stock, Redemption Price Per Share																							$ 25
Preferred Stock, Par or Stated Value Per Share		$ 0.01
Proceeds from Issuance of Preferred Stock and Preference Stock		$ 65,000,000
Common Class B [Member]
Class of Stock [Line Items]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount																									5,280
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												1,666							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							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	[1]																						4,282
Stock Issued During Period, Shares, New Issues																							0	0	0
Stock Issued During Period, Value, New Issues																							$ 0	$ 0	$ 0
Incentive Plan [Member]
Class of Stock [Line Items]
Share-based Compensation Arrangement by Share-based Payment Award, Equity Instruments Other than Options, Grants in Period				176,610		283,390
[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.

Selected Quarterly Financial 57

Selected Quarterly Financial Data (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended																12 Months Ended
	Dec. 31, 2016		Sep. 30, 2016		Jun. 30, 2016		Mar. 31, 2016		Dec. 31, 2015	[1]	Sep. 30, 2015	[1]	Jun. 30, 2015	[1]	Mar. 31, 2015	[1]	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Total revenue	$ 22,394		$ 19,624		$ 18,399		$ 16,634		$ 13,200		$ 11,560		$ 10,469		$ 9,036		$ 77,051	$ 44,255	$ 30,363
Operating (loss) income	(913)		1,188		(147)		(1,165)		(1,883)		(12)		701		(420)		(1,032)	(1,623)	(3,565)
Net (loss) income	39		1,568		(1,961)		(2,625)		(398)		(602)		(704)		9,347		(2,974)	7,643	(6,558)
Net income (loss) available to common shareholders	$ (7,260)		$ (2,551)		$ (5,043)		$ (4,135)		$ (1,523)		$ (574)		$ (582)		$ 3,313		$ (18,985)	$ 635	$ (5,172)
Earnings (loss) per common share, basic:	$ (0.34)	[2]	$ (0.12)	[2]	$ (0.24)	[2]	$ (0.20)	[2]	$ (0.07)		$ (0.03)		$ (0.04)		$ 0.26		$ (0.91)	$ 0.04	$ (0.96)
Earnings (loss) per common share, diluted:	$ (0.34)	[2]	$ (0.12)	[2]	$ (0.24)	[2]	$ (0.20)	[2]	$ (0.07)		$ (0.03)		$ (0.04)		$ 0.26		$ (0.91)	$ 0.04	$ (0.96)
[1]	EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2015.
[2]	EPS amounts are based on weighted average common shares outstanding during the quarter and, therefore, may not agree with the EPS calculated for the year ended December 31, 2016.

Subsequent Events (Details)

Subsequent Events (Details) - USD ($) $ / shares in Units, $ in Thousands	Jan. 06, 2017	Jan. 17, 2017	Dec. 31, 2016
Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Total Distribution		$ 9,967
Class A Common Stock One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Jan. 13, 2016
Dividends, Record Date			Jan. 25, 2016
Dividends, Date paid			Feb. 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 0.096666
Class A Common Stock One [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Oct. 4, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.0966670
Dividends, Total Distribution		$ 1,892
Series A Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Dec. 14, 2015
Dividends, Record Date			Dec. 24, 2015
Dividends, Date paid			Jan. 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 0.401000
Series A Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Dec. 9, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.5156250
Dividends, Total Distribution		$ 2,950
Operating Partnership Units One [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Oct. 4, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.0966670
Dividends, Total Distribution		$ 29
Long-term Incentive Plan Units One [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Oct. 4, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.0966670
Dividends, Total Distribution		$ 155
Class A Common Stock Two [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Jan. 13, 2016
Dividends, Record Date			Feb. 25, 2016
Dividends, Date paid			Mar. 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 0.096667
Class A Common Stock Two [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Jan. 13, 2017
Dividends, Record Date	Mar. 3, 2017	Jan. 25, 2017
Dividends, Date paid		Feb. 3, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.096666
Dividends, Total Distribution		$ 2,336
Series B Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Apr. 15, 2016
Dividends, Record Date			Apr. 25, 2016
Dividends, Date paid			May 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 5
Series B Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Oct. 4, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 5
Dividends, Total Distribution		$ 95
Operating Partnership Units Two [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Jan. 13, 2017
Dividends, Record Date		Jan. 25, 2017
Dividends, Date paid		Feb. 3, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.096666
Dividends, Total Distribution		$ 29
Long-term Incentive Plan Units Two [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Jan. 13, 2017
Dividends, Record Date		Jan. 25, 2017
Dividends, Date paid		Feb. 3, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.096666
Dividends, Total Distribution		$ 155
Series B Preferred Stock One [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Jun. 10, 2016
Dividends, Record Date			Jun. 24, 2016
Dividends, Date paid			Jul. 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 0.515625
Series B Preferred Stock One [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Jan. 13, 2017
Dividends, Record Date		Jan. 25, 2017
Dividends, Date paid		Feb. 3, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.096666
Dividends, Total Distribution		$ 119
Series C Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Sep. 9, 2016
Dividends, Record Date			Sep. 23, 2016
Dividends, Date paid			Oct. 5, 2016
Dividends, Distributions per Share (in dollars per share)			$ 0.39184
Series C Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Dec. 9, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.4765625
Dividends, Total Distribution		$ 1,107
Series D Preferred Stock [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date			Dec. 9, 2016
Dividends, Record Date			Dec. 23, 2016
Dividends, Date paid			Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)			$ 0.3859
Series D Preferred Stock [Member] | Subsequent Event [Member]
Subsequent Event [Line Items]
Dividends, Declaration Date		Dec. 9, 2016
Dividends, Record Date		Dec. 23, 2016
Dividends, Date paid		Jan. 5, 2017
Dividends, Distributions per Share (in dollars per share)		$ 0.3859000
Dividends, Total Distribution		$ 1,100

Subsequent Events (Details Text

Subsequent Events (Details Textual) $ / shares in Units, $ in Thousands

Jan. 14, 2017USD ($)$ / shares

Jan. 06, 2017$ / shares

Mar. 15, 2016

Sep. 09, 2013USD ($)

Mar. 24, 2017$ / shares

Feb. 24, 2017$ / shares

Feb. 17, 2017USD ($)

Jan. 25, 2017$ / shares

Jan. 24, 2017USD ($)shares

Jan. 17, 2017$ / sharesshares

Dec. 29, 2016USD ($)

Dec. 31, 2016USD ($)

Dec. 31, 2015USD ($)

Dec. 31, 2014USD ($)

Jan. 05, 2017USD ($)

Nov. 30, 2015USD ($)

Subsequent Event [Line Items]

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

100.00%

10.00%

Proceeds from Issuance of Common Stock

$ 22,600

$ 51

$ 131,321

$ 76,864

Management Fee, Description

This amount was payable 50% in LTIP Units with the other 50% payable in either cash or LTIP Units at the discretion of the Companys board of directors. Upon consultation with the Manager, the board of directors elected to pay 100% of the base management fee and operating expense reimbursement in LTIP Units.

Management Fees, Base Revenue

$ 2,000

Debt Instrument, Maturity Date

Jun. 29, 2019

Business Acquisition Indirect Ownership, Amount

$ 2,900

West Morehead Development [Member]

Subsequent Event [Line Items]

Due from Related Parties

$ 34,500

Common Class A One [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Jan. 25, 2016

Dividends Payable, Date to be Paid

Feb. 5, 2016

Common Class A Two [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Feb. 25, 2016

Dividends Payable, Date to be Paid

Mar. 5, 2016

Common Class A Three [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Mar. 24, 2016

Dividends Payable, Date to be Paid

Apr. 5, 2016

Series B Preferred Stock [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Apr. 25, 2016

Dividends Payable, Date to be Paid

May 5, 2016

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

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Jan. 25, 2017

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

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Feb. 24, 2017

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

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Mar. 24, 2017

Subsequent Event [Member]

Subsequent Event [Line Items]

Debt Instrument, Maturity Date

Jan. 6, 2020

Noncontrolling Interest, Description

(i) Fund II redeemed the common equity interest held by BRG Boca, LLC, or BRG Boca, a wholly-owned subsidiary of the Operating Partnership, in BR Boca JV Member, LLC, or BR Boca JV Member, for $7.3 million, (ii) BRG Boca obtained a 0.5% common equity interest in BR Boca JV Member, and (iii) the Company, through BRG Boca, provided a mezzanine loan in the amount of $11.2 million to BR Boca JV Member, or the BRG Boca Mezz Loan. The BRG Boca Mezz Loan is secured by the BR Boca JV Members approximate 89.6% common equity interest in in a multi-tiered joint venture, along with Fund II, an affiliate of the Manager, and NCC Development Group, or the Boca JV, which intends to develop an approximately 90-unit Class A townhome apartment community located in Boca Raton, Florida to be known as APOK Townhomes.

Right to Exercise an Option to Purchase, Description

The Company has the right to exercise an option to purchase, at the greater of a 25 basis point discount to fair market value or a 15% internal rate of return for Fund II, up to a 100% common membership interest in BR Boca JV Member, which is 99.5% owned by Fund II and which currently holds an approximate 89.6% common equity interest in the Boca JV and in the APOK Townhomes property, subject to certain promote rights of our unaffiliated development partner.

Fixed Interest rate

15.00%

Subsequent Event [Member] | West Morehead Development [Member]

Subsequent Event [Line Items]

Due from Related Parties

$ 24,600

Subsequent Event [Member] | January 2017 Offering of Class A Common Stock [Member]

Subsequent Event [Line Items]

Stock Issued During Period, Shares, New Issues | shares

600,000

4,000,000

Sale of Stock, Price Per Share | $ / shares

$ 13.15

Proceeds from Issuance of Common Stock

$ 49,800

$ 7,500

Common Stock, Par or Stated Value Per Share | $ / shares

$ 0.01

Subsequent Event [Member] | Class A Apartment Community [Member]

Subsequent Event [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 20,000

Subsequent Event [Member] | Class A Apartment Community [Member] | Minimum [Member]

Subsequent Event [Line Items]

Business Acquisition Indirect Ownership, Amount

$ 59,500

Subsequent Event [Member] | Class A Apartment Community [Member] | Senior Secured Mortgage Loan [Member]

Subsequent Event [Line Items]

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

0.00%

Debt Instrument, Description of Variable Rate Basis

LIBOR plus 2.07%, capped at 5.50%.

Debt Instrument, Basis Spread on Variable Rate

2.07%

Debt Instrument, Interest Rate, Stated Percentage

5.50%

Debt Instrument, Maturity Date

Mar. 1, 2024

Business Acquisition Indirect Ownership, Amount

$ 41,100

Number of Real Estate Properties, Fee Simple

382

Subsequent Event [Member] | Common Class A One [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Dec. 23, 2016

Dividends Payable, Date to be Paid

Jan. 5, 2017

Subsequent Event [Member] | Common Class A Two [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Mar. 3, 2017

Jan. 25, 2017

Dividends Payable, Date to be Paid

Feb. 3, 2017

Subsequent Event [Member] | Common Class A Three [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Apr. 5, 2017

Subsequent Event [Member] | Series B Preferred Stock [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Dec. 23, 2016

Dividends Payable, Date to be Paid

Jan. 5, 2017

Preferred Stock, Dividends Per Share, Declared | $ / shares

$ 5

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

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Jan. 25, 2017

Common Stock, Dividends, Per Share, Declared | $ / shares

$ 0.29

$ 0.096667

$ 0.096667

$ 0.096666

Dividends Payable, Date to be Paid

Feb. 3, 2017

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

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Feb. 24, 2017

Common Stock, Dividends, Per Share, Declared | $ / shares

$ 0.29

$ 0.096667

$ 0.096667

$ 0.096666

Dividends Payable, Date to be Paid

Mar. 3, 2017

Subsequent Event [Member] | Monthly Dividends [Member] | Common Class A Three [Member]

Subsequent Event [Line Items]

Dividends Payable, Date of Record

Mar. 24, 2017

Dividends Payable, Date to be Paid

Apr. 5, 2017

Schedule III - Real Estate an60

Schedule III - Real Estate and Accumulated Depreciation (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014	Dec. 31, 2013
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 716,153
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	140,670
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	864,787
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	23,757
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	142,274
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	886,940
SEC Schedule III, Real Estate, Gross, Total	1,029,214	$ 556,820	$ 299,686	$ 168,514
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	42,137	$ 23,437	$ 11,275	$ 5,509
Enders Place at Baldwin Park [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	24,732
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,750
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	20,171
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4,566
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,453
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	24,034
SEC Schedule III, Real Estate, Gross, Total	29,487
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 3,519
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,012
Enders Place at Baldwin Park [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Enders Place at Baldwin Park [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
MDA Apartments [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 37,124
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	9,500
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	52,164
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	235
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	9,500
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	52,399
SEC Schedule III, Real Estate, Gross, Total	61,899
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 7,526
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,012
MDA Apartments [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
MDA Apartments [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Village Green of Ann Arbor [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 41,547
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,200
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	52,214
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,414
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,200
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	53,628
SEC Schedule III, Real Estate, Gross, Total	57,828
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 5,421
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,014
Village Green of Ann Arbor [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Village Green of Ann Arbor [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Lansbrook Village [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 57,190
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	6,852
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	50,203
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	6,786
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,453
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	56,388
SEC Schedule III, Real Estate, Gross, Total	63,841
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 5,358
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,014
Lansbrook Village [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Lansbrook Village [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM Grandewood [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 34,294
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	5,200
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	37,220
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	666
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,200
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	37,886
SEC Schedule III, Real Estate, Gross, Total	43,086
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 2,653
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,014
ARIUM Grandewood [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM Grandewood [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Park And Kingston [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 18,432
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	3,060
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	24,353
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	2,918
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,360
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	26,971
SEC Schedule III, Real Estate, Gross, Total	30,331
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,618
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Park And Kingston [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Park And Kingston [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Fox Hill [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 26,705
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,180
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	33,171
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	322
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,180
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	33,493
SEC Schedule III, Real Estate, Gross, Total	37,673
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 2,241
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Fox Hill [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Fox Hill [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Ashton I [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 31,900
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	40,944
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	98
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	41,042
SEC Schedule III, Real Estate, Gross, Total	45,042
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,960
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Ashton I [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Ashton I [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM Palms [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 24,999
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,030
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	32,248
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	717
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,030
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	32,965
SEC Schedule III, Real Estate, Gross, Total	36,995
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,737
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
ARIUM Palms [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM Palms [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Sorrel [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 38,684
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	6,710
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	47,444
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	209
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	6,710
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	47,653
SEC Schedule III, Real Estate, Gross, Total	54,363
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 2,356
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Sorrel [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Sorrel [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Sovereign [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 28,880
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	2,800
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	40,609
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	163
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	2,800
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	40,772
SEC Schedule III, Real Estate, Gross, Total	43,572
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,946
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Sovereign [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Sovereign [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Ashton II [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 15,270
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	1,900
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	19,517
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	4
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	1,900
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	19,521
SEC Schedule III, Real Estate, Gross, Total	21,421
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 692
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,015
Ashton II [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Ashton II [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM at Palmer Ranch [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 26,925
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	7,800
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	30,597
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,011
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	7,800
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	31,608
SEC Schedule III, Real Estate, Gross, Total	39,408
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,010
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
ARIUM at Palmer Ranch [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM at Palmer Ranch [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM Gulfshore [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 32,626
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	10,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	36,047
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,596
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	10,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	37,643
SEC Schedule III, Real Estate, Gross, Total	47,643
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,169
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
ARIUM Gulfshore [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM Gulfshore [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
The Preserve at Henderson Beach [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 36,989
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	4,100
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	50,117
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	567
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	4,100
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	50,684
SEC Schedule III, Real Estate, Gross, Total	54,784
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 1,255
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
The Preserve at Henderson Beach [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
The Preserve at Henderson Beach [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM Westside [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 52,150
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	8,657
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	63,402
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	240
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,657
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	63,642
SEC Schedule III, Real Estate, Gross, Total	72,299
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 814
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
ARIUM Westside [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM Westside [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Nevadan [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 48,431
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	14,513
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	52,324
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	149
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	14,513
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	52,473
SEC Schedule III, Real Estate, Gross, Total	66,986
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 284
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
Nevadan [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Nevadan [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
ARIUM Pine Lakes [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 26,950
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	5,760
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	31,854
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	29
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,760
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	31,883
SEC Schedule III, Real Estate, Gross, Total	37,643
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 249
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
ARIUM Pine Lakes [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
ARIUM Pine Lakes [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
The Brodie [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 34,825
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	5,400
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	42,497
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	160
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	5,400
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	42,657
SEC Schedule III, Real Estate, Gross, Total	48,057
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 141
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
The Brodie [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
The Brodie [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Roswell City Walk [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 51,000
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	8,423
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	66,249
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	5
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	8,423
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	66,254
SEC Schedule III, Real Estate, Gross, Total	74,677
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 188
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
Roswell City Walk [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Roswell City Walk [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Legacy at Southpark [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 26,500
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	3,500
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	32,471
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	18
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,500
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	32,489
SEC Schedule III, Real Estate, Gross, Total	35,989
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 0
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
Legacy at Southpark [Member] | Real Estate Held for Investment [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Legacy at Southpark [Member] | Real Estate Held for Investment [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Crescent Perimeter [Member] | Property Under Development [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	12,250
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,052
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,335
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	12,250
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,387
SEC Schedule III, Real Estate, Gross, Total	17,637
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 0
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
Crescent Perimeter [Member] | Property Under Development [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Crescent Perimeter [Member] | Property Under Development [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Vickers Village [Member] | Property Under Development [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	3,085
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	4,919
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	549
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	3,085
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	5,468
SEC Schedule III, Real Estate, Gross, Total	8,553
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 0
SEC Schedule III, Real Estate and Accumulated Depreciation, Year of Acquisition	2,016
Vickers Village [Member] | Property Under Development [Member] | Minimum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	3 years
Vickers Village [Member] | Property Under Development [Member] | Maximum [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Life Used for Depreciation	40 years
Subtotal [Member] | Real Estate Held for Investment [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	$ 716,153
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	125,335
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	855,816
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	21,873
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	126,939
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	876,085
SEC Schedule III, Real Estate, Gross, Total	1,003,024
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	42,137
Subtotal [Member] | Property Under Development [Member]
SEC Schedule III, Real Estate and Accumulated Depreciation [Line Items]
SEC Schedule III, Real Estate and Accumulated Depreciation, Amount of Encumbrances	0
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Land	15,335
SEC Schedule III, Real Estate and Accumulated Depreciation, Initial Cost of Buildings and Improvements	8,971
SEC Schedule III, Real Estate and Accumulated Depreciation, Costs Capitalized Subsequent to Acquisition, Improvements	1,884
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Land	15,335
SEC Schedule III, Real Estate and Accumulated Depreciation, Carrying Amount of Buildings and Improvements	10,855
SEC Schedule III, Real Estate, Gross, Total	26,190
SEC Schedule III, Real Estate Accumulated Depreciation, Ending Balance	$ 0

Schedule III - Real Estate an61

Schedule III - Real Estate and Accumulated Depreciation (Details 1) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Real Estate Properties [Line Items]
Balance at January 1	$ 556,820	$ 299,686	$ 168,514
Construction and acquisition cost	508,218	272,602	212,973
Disposition of real estate	(35,824)	(15,468)	(81,801)
Balance at December 31	$ 1,029,214	$ 556,820	$ 299,686

Schedule III - Real Estate an62

Schedule III - Real Estate and Accumulated Depreciation (Details 2) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Schedule III, Accumulated Depreciation [Line Items]
Balance at January 1	$ 23,437	$ 11,275	$ 5,509
Current year depreciation expense	23,580	12,445	8,367
Disposition of real estate	(4,880)	(283)	(2,601)
Balance at December 31	$ 42,137	$ 23,437	$ 11,275