Plymouth Industrial REIT (PLYM) 10-Q 14 Nov 13 2013 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	9 Months Ended
	Sep. 30, 2013	Nov. 14, 2013
Document And Entity Information	'	'
Entity Registrant Name	'Plymouth Opportunity REIT Inc.	'
Entity Central Index Key	'0001515816	'
Document Type	'10-Q	'
Document Period End Date	30-Sep-13	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--06-30	'
Is Entity a Well-known Seasoned Issuer?	'No	'
Is Entity a Voluntary Filer?	'No	'
Is Entity's Reporting Status Current?	'Yes	'
Entity Filer Category	'Smaller Reporting Company	'
Entity Common Stock, Shares Outstanding	'	1,064,991
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2013	'

Consolidated_Balance_Sheets

Consolidated Balance Sheets (USD $)	Sep. 30, 2013	Dec. 31, 2012
Assets	'	'
Investments in Joint Ventures	$1,356,082	$1,642,027
Cash	4,175,202	174,442
Security Deposit	16,733	16,733
Due From Affiliate	9	9,431
Total Assets	5,548,026	1,842,633
Liabilities and Equity	'	'
Accounts Payable	241,007	'
Accrued Expenses	161,889	381,432
Accrued Directors Fees	'	49,500
Total Liabilities	402,896	430,932
Preferred Stock, $.01 par value, 10,000,000 shares authorized, none issued and outstanding	'	'
Common Stock, $.01 par value, 1,000,000,000 shares authorized, 1,064,991 and 367,841 shares issued and outstanding, respectively	10,493	3,678
Common Stock Dividend Distributable	158	'
Total Common Stock	10,651	3,678
Additional Paid In Capital	9,991,918	3,620,709
Accumulated Deficit	-4,857,439	-2,212,686
Total Equity	5,145,130	1,411,701
Total Liabilities and Equity	$5,548,026	$1,842,633

Consolidated_Balance_Sheets_Pa

Consolidated Balance Sheets (Parenthetical) (USD $)	Sep. 30, 2013	Dec. 31, 2012
Statement of Financial Position [Abstract]	'	'
Preferred stock, par value	$0.01	$0.01
Preferred stock, shares authorized	10,000,000	10,000,000
Common stock stock, par value	$0.01	$0.01
Common stock, shares authorized	1,000,000,000	1,000,000,000
Common stock, shares issued	1,064,991	367,841
Common stock, shares outstanding	1,064,991	367,841

Consolidated_Income_Statements

Consolidated Income Statements (Unaudited) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012
Income	'	'	'	'
Equity Investment Income (Loss)	($27,636)	$16,477	($176,898)	$16,477
Realized Gain on Sale of REIT Securities	'	'	'	205
Interest Income	1	'	5	'
Total Income (Loss)	-27,635	16,477	-176,893	16,682
Expenses	'	'	'	'
Professional Services	325,482	455,260	600,064	455,260
Marketing	65,153	37,000	158,513	37,000
Rent and Lease Costs	38,435	79,821	157,429	79,821
Directors fees, including stock compensation	42,000	'	133,500	'
Commissions and Fees	'	105,900	'	105,900
Insurance	12,439	12,914	93,968	12,914
Salary reimbursement	61,748	245,402	593,127	245,402
General and Administrative	185,244	27,395	358,052	27,419
Total Expenses	730,501	963,692	2,094,653	963,716
Net loss	($758,136)	($947,215)	($2,271,546)	($947,034)
Weighted Average Number of Shares Outstanding	632,884	55,699	516,146	66,987
Basic and Diluted Income (Loss) Per Share	($1.20)	($17.01)	($4.40)	($14.14)

Consolidated_Statement_of_Equi

Consolidated Statement of Equity (Unaudited) (USD $)	Common Stock	Issuance of Common Stock for Volume Discount	Issuance of Common Stock for Origination Fees	Dividend Distributable	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Beginning balance at Dec. 31, 2011	$200	'	'	'	$199,800	$1,070	$201,070
Beginning balance (shares) at Dec. 31, 2011	20,000	'	'	'	'	'	20,000
Issuance of common stock for cash net of share issuance costs (shares)	331,500	'	'	'	'	'	'
Issuance of common stock for cash net of share issuance costs	3,315	'	'	'	3,257,664	'	3,260,979
Stock compensation (shares)	11,633	'	'	'	'	'	'
Stock compensation	116	'	'	'	116,214	'	116,330
Stock dividend (shares)	4,708	'	'	'	'	'	'
Stock dividend	47	'	'	'	47,031	-47,078	'
Net Income (Loss)	'	'	'	'	'	-2,166,678	'
Ending balance at Dec. 31, 2012	3,678	'	'	'	3,620,709	-2,212,686	1,411,701
Ending balance (shares) at Dec. 31, 2012	367,841	'	'	'	'	'	367,841
Issuance of common stock for cash net of share issuance costs (shares)	598,550	'	'	'	'	'	'
Issuance of common stock for cash net of share issuance costs	3,678	'	'	'	3,620,709	'	5,821,975
Stock compensation (shares)	18,300	'	'	'	'	'	'
Stock compensation	183	'	'	'	182,817	'	183,000
Stock dividend (shares)	37,321	'	'	'	'	'	'
Stock dividend	216	'	'	158	372,833	-373,207	'
Issuance of common stock for noncash consideration (shares)	'	16,285	26,694	'	'	'	'
Issuance of common stock for noncash consideration	'	163	267	'	-430	'	'
Net Income (Loss)	'	'	'	'	'	-2,271,546	-2,271,546
Ending balance at Sep. 30, 2013	$10,493	'	'	$158	$9,991,918	($4,857,439)	$5,145,130
Ending balance (shares) at Sep. 30, 2013	1,064,991	'	'	'	'	'	1,064,991

Consolidated_Statement_of_Equi1

Consolidated Statement of Equity (Parenthetical) (USD $)	9 Months Ended
	Sep. 30, 2013
Statement of Stockholders' Equity [Abstract]	'
Share issuance costs	$163,525

Consolidated_Statements_of_Cas

Consolidated Statements of Cash Flows (Unaudited) (USD $)	9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012
Cash from operating activities	'	'
Net loss	($2,271,546)	($947,034)
Realized Gain on Sale of REIT Securities	'	-205
Changes in Due From Affiliate	9,422	'
Equity investment loss (income)	176,898	-16,477
Directors fees - stock compensation	183,000	'
Accounts payable	241,007	'
Accrued expenses	-269,043	'
Net cash used for operating activities	-1,930,262	-963,716
Cash from investing activities	'	'
Investment in Real Estate	'	1,750,000
Changes in deposits	'	-100,000
Proceeds from sale of REIT securities	'	25,630
Net cash used in investing activities	'	-1,824,370
Cash from financing activities	'	'
Distributions from investments in joint ventures	109,047	'
Proceeds from issuance of common stock	5,985,500	3,235,980
Share issue costs	163,525	'
Net cash provided by financing activities	5,931,022	3,235,980
Net increase in cash	4,000,760	447,894
Cash at the beginning of the period	174,442	175,645
Cash at the end of the period	4,175,202	623,539
Common stock distributed as dividends:	'	'
Common stock	374	'
Additional paid-in capital	372,833	'
Fair value of stock dividend	373,207	'
Issuance of common stock for volume discount	163	'
Issuance of common stock for origination fees	$267	'

Business

Business	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Business	'
	(1)  Business
	Plymouth Opportunity REIT, (the "Company") is a Maryland corporation formed on March 7, 2011. The Company intends to acquire and operate on an opportunistic basis commercial real estate and real estate-related assets that exhibit current income characteristics. In particular, the Company intends to focus on acquiring commercial properties located in markets and submarkets with growth potential and those available from sellers who are distressed or face time-sensitive deadlines. In addition, our opportunistic investment strategy may include investments in real estate-related assets with significant possibilities for short-term capital appreciation, such as those requiring development, redevelopment or repositioning. The Company may acquire, or participate in joint ventures owning a wide variety of commercial properties including office, industrial, retail, hospitality, medical office, single-tenant, multifamily and other real properties.
	All references to the Company refer to Plymouth Opportunity REIT, Inc. and its subsidiaries, collectively, unless the context otherwise requires.
	The Company has operated in a manner that will allow it to qualify as a REIT for federal income tax purposes. The Company filed its initial Form 1120-REIT as its tax return for the taxable year ended December 31, 2012. The Company utilizes an Umbrella Partnership Real Estate Investment Trust (“UPREIT”) organizational structure to hold all or substantially all of its properties and securities through an operating partnership, Plymouth Opportunity OP, LP (the “Operating Partnership").
	On March 11, 2011, the Company sold 20,000 shares of common stock to Plymouth Group Real Estate, LLC (the “Sponsor”), at a price of $200,000, or $10 per share. As of November 14, 2013, the Company has 1,064,991 shares outstanding for gross offering proceeds of $9,446 million.
	The Company has retained Plymouth Real Estate Investors, Inc. (the “Advisor” or “Plymouth REI”) to serve as its advisor. The Advisor is responsible for managing, operating, directing and supervising the operations and administration of the Company and its assets. The Company has retained Plymouth Real Estate Capital, LLC (the “Dealer Manager”), and a member of FINRA, to act as the exclusive Dealer Manager for this offering. The Advisor and the Dealer Manager are affiliates of the Sponsor.

Initial_Public_Offering

Initial Public Offering	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Initial Public Offering	'
	(3) Initial Public Offering
	The Company is offering for sale up to $642,500,000 in shares of common stock, of which 50,000,000 shares are offered to investors at a price of $10.00 per share, and of which 15,000,000 shares are offered to participants in the Company’s distribution reinvestment plan at a price of $9.50 per share (the “Initial Public Offering”). The Company commenced the Initial Public Offering on November 1, 2011. As of November 14, 2013, the Company had reached gross offering proceeds of approximately $9,446 million, which is sufficient to satisfy minimum offering amounts in all states where the Company is conducting its offering except Ohio, Pennsylvania and Tennessee.
	The Company has the right to reallocate the shares of common stock offered between the Company’s primary public offering and the Company’s distribution reinvestment plan. The Dealer Manager is providing dealer manager services in connection with the Initial Public Offering. The Initial Public Offering is a best efforts offering, which means that the Dealer Manager is not required to sell any specific number or dollar amount of shares of common stock in the offering but will use its best efforts to sell the shares of common stock. The Initial Public Offering is a continuous offering that will end within two years of November 1, 2011, unless it is extended in states that permit such an extension. In certain states, the Initial Public Offering must be renewed after one year of offering. On October 18, 2013, our board of directors approved the extension of our Initial Public Offering to November 1, 2014, provided that the Initial Public Offering will be terminated if all 50,000,000 shares are sold before such date (subject to our right to reallocate shares offered pursuant to our distribution reinvestment plan for sale in our Initial Public Offering).

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Related Party Transactions	'
	(4)  Related Party Transactions
	The Company is a party to an advisory agreement dated July 27, 2011 with Plymouth REI which entitles Plymouth REI to specified fees upon the provision of certain services with regard to the Initial Public Offering and investment of funds in real estate and real estate related investments, among other services, as well as reimbursement for organization and offering costs incurred by Plymouth REI and its affiliates on behalf of the Company and certain costs incurred by Plymouth REI and its affiliates in providing services to the Company. The Company also entered into an agreement with the Sponsor, an affiliate of the Advisor, to earn an origination fee based on the equity funded to acquire investments.
	Type of Compensation	Form of Compensation
	Organization and Offering Costs	Reimbursement of organization and offering costs to the Advisor or its affiliates for cumulative organization and offering costs, but only to the extent that the total organizational and offering costs borne by the Company do not exceed 15.0% of gross offering proceeds as of the date of the reimbursement. Total organization and offering costs reimbursed to the Advisor for the nine months ended September 30, 2013 are $380,244.
	Acquisition and Advisory Fees	Reimbursement of acquisition costs and origination fees to the Advisor and its affiliates for expenses actually incurred (including personnel costs) related to selecting, evaluating and acquiring assets on the Company’s behalf, regardless of whether the Company actually acquires the related assets.
	Asset Management Fee	Monthly asset management fees paid to the Advisor equal to one-twelfth of 1.0% of the sum of the cost of each asset, where cost equals the amount actually paid.  Total asset management fees incurred as of September 30, 2013 are $13,125.
	Common Stock	Common Stock issuable upon occurrence of certain events will be paid to the Sponsor as an origination fee equal to 3% of the equity funded to acquire the investments. This fee will be payable semi-annually in shares of the Company’s common stock, which shares will be valued at a price equal to the price then payable for shares redeemed under the Company’s share redemption program, provided such price shall not be less than $10.00 per share. The aggregate origination fee payable to the Sponsor will not exceed 3% of the net proceeds of the Company’s primary offering of shares as of the time of such payment. Total shares issued through September 30, 2013 are 26,694 for a value of $266,945.
	Subscription Processing Fee	Monthly subscription processing fee to the Advisor equal to $35 per subscription agreement received and processed by the Advisor. The Advisor at its sole discretion may defer all or any portion of the $35 per subscription agreement fee payable.
	Expense Reimbursement	Reimbursement to the Advisor for all expenses paid or incurred by the Advisor in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse our Advisor for any amount by which our operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of: (A) 2% of our average invested assets, or (B) 25% of our net income.  During the nine months ended September 30, 2013, the Company reimbursed $542,165 of various operating expenses.
	Termination	Upon termination or nonrenewal of the advisory agreement, the Advisor shall be entitled to receive an amount, payable in the form of an interest bearing promissory note, equal to 15% of the amount by which (i) our adjusted market value plus distributions exceeds (ii) the aggregate capital contributed by investors plus an amount equal to an 8% cumulative, non-compounded return to investors.
	Pursuant to the terms of the agreement with its Advisor, Plymouth REI has the right to defer (without interest) receipt of all of these fees and expenses, including an additional $657,628 of organization and offering costs that have yet to be, but could be, billed to the Company.
	As of September 30, 2013, the Company was reimbursed by the Dealer Manager for all outstanding costs reimbursable under the expense sharing agreement signed August 1, 2012.
	For the three and nine months ended September 30, 2013, the Company has incurred $355,050 and $430,470, respectively, in commissions and dealer manager fees to the Dealer Manager related to the issuance of common stock. For the three and nine months ended September 30, 2012, the Company has incurred $105,900 in commissions and dealer manager fees to the Dealer Manager related to the issuance of common stock.
	As more fully described in Note 5, the Company and Colony Hills Capital, LLC are each members of Colony Hills Capital Residential II, LLC.  Colony Hills Capital, LLC is also a shareholder of the Company.

Investment_in_Joint_Ventures

Investment in Joint Ventures	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Investment in Joint Ventures	'
	(5)  Investments in Joint Ventures
	On August 17, 2012, the Company, through its operating partnership, Plymouth Opportunity OP LP, acquired a 51.5% equity interest in the Class A shares of Colony Hills Capital Residential II, LLC (“CHCR II”) which is a joint venture with Colony Hills Capital, LLC. The Company has no controlling interest in CHCR II. CHCR II is the sole member of Wynthrope Holdings, LLC, which owns Wynthrope Forest Apartments, a 23 building, 270 unit multifamily complex located in Riverdale, a suburb of Atlanta, Georgia. The property was 93.3% occupied at the time of acquisition, with a majority of leases ranging from one year or longer. The purchase price for the equity interest was $1,250,000. The total purchase price the joint venture paid for the property was $13.9 million, which included $10.6 million of secured debt.
	On September 10, 2012, the Company, through its operating partnership, Plymouth Opportunity OP LP, acquired a 12% limited partnership interest in TCG Cincinnati DRE LP (the “Partnership”). The Partnership owns three Class B industrial buildings comprised of approximately 576,751 square feet located in the Greater Cincinnati area. All three buildings were 100% occupied at the time of the investment, consisting of four tenants with leases of two to ten years. The purchase price for the equity interest acquired by the Company was $500,000. The Company funded the purchase price of these investments with proceeds from its Initial Public Offering.
	The Company performed an analysis to determine whether or not these entities represent variable interest entities (“VIE”s), and if the Company is the primary beneficiary (“PB”) of the VIEs.
	The Company concluded that CHCR II is a VIE. The Company has determined that it is not the PB of the VIE as the Company does not have the ability to make decisions over the activities that most significantly impact the performance of CHCR II. The Company accounts for the CHCR II investment as an equity method investment.
	The Company has concluded that the Partnership is not a VIE. The Company does not have control over the Partnership and accounts for this investment as an equity method investment.
	The Company accounts for these investments using equity method accounting, as the Company has significant influence over the entities, but does not have control over the entities. During the three and nine months ended September 30, 2013, the Company recorded $27,636 and $176,898 of losses, respectively, and $29,755 and $109,047 of distributions from these investments, respectively.
	For the nine months ended September 30, 2013, CHCR II and the Partnership had combined revenues of $3,469,316 and expenses of $3,469,772, respectively.

Subsequent_Events

Subsequent Events	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Subsequent Events	'
	(6)  Subsequent Events
	On October 1, 2013, Plymouth Opportunity REIT, Inc. (the "Company") through its operating partnership, Plymouth Opportunity OP LP, completed an investment in TCG 5400 FIB LP ("5400 FIB"), which owns a recently acquired a warehouse facility (the “Property”) in Atlanta, Georgia containing 682,750 rentable square feet of space. The initial purchase price of the Property by 5400 FIB was $21.9 million which included $15.0 million of secured debt. At the time of the investment, the Property was 100% leased. The Company funded its investment in 5400 FIB with $3.5 million of proceeds from its Initial Public Offering.
	On November 7, 2013, the Board of Directors declared a stock dividend of 1.5% of each outstanding share of common stock, $0.01 par value per share, to the stockholders of record at the close of business on December 31, 2013 to be issued on January 15, 2014.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Sep. 30, 2013
Notes to Financial Statements	'
Summary of Significant Accounting Policies	'
	(2)  Summary of Significant Accounting Policies
	Basis of Presentation
	These interim condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation. These interim condensed consolidated financial statements include adjustments of a normal and recurring nature considered necessary by management to fairly present the Company’s financial position and results of operations. These interim condensed consolidated financial statements may not be indicative of financial results for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
	Equity Method Accounting
	The Company may acquire equity interests in various limited partnerships or other entities. In certain cases where the Company has the ability to exercise significant influence over the borrower, it accounts for its equity interest under the equity method of accounting. Under the equity method of accounting, the Company recognizes the proportional share of the investee’s net income or loss as determined under GAAP in the Company’s results of operations.
	Earnings per Share
	Basic earnings per share are calculated on the basis of weighted-average number of common shares outstanding during the year. Basic earnings per share are computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Jun. 30, 2013
Debt Disclosure [Abstract]	'
Basis of Presentation	'
	Basis of Presentation
	These interim condensed consolidated financial statements include the accounts of the Company and have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant intercompany transactions have been eliminated in consolidation. These interim condensed consolidated financial statements include adjustments of a normal and recurring nature considered necessary by management to fairly present the Company’s financial position and results of operations. These interim condensed consolidated financial statements may not be indicative of financial results for the full year. The preparation of financial statements in conformity with GAAP requires management to make estimates and assumptions that affect certain reported amounts and disclosure of contingent assets and liabilities. Actual results could differ from those estimates. The interim condensed consolidated financial statements and notes thereto should be read in conjunction with the Company’s Annual Report on Form 10-K for the year ended December 31, 2012.
Equity Method Accounting	'
	Equity Method Accounting
	The Company may acquire equity interests in various limited partnerships or other entities. In certain cases where the Company has the ability to exercise significant influence over the borrower, it accounts for its equity interest under the equity method of accounting. Under the equity method of accounting, the Company recognizes the proportional share of the investee’s net income or loss as determined under GAAP in the Company’s results of operations.
Earnings Per Shares	'
	Earnings per Share
	Basic earnings per share are calculated on the basis of weighted-average number of common shares outstanding during the year. Basic earnings per share are computed by dividing income available to common shareholders by the weighted-average common shares outstanding during the period.

Business_Details_Narrative

Business (Details Narrative) (USD $)	3 Months Ended	9 Months Ended	12 Months Ended			3 Months Ended		3 Months Ended
	Sep. 30, 2013	Sep. 30, 2013	Dec. 31, 2012	Nov. 14, 2013	Dec. 31, 2011	Sep. 30, 2013	Sep. 30, 2013	Mar. 31, 2011
						Initial Public Offering	Initial Public Offering	Common Stock
							Offered to Investors
Shares of common stock sold to Plymouth Group Real Estate, LLC (in shares)	'	'	'	'	'	'	'	20,000
Proceeds from sale of common stock	$752,000	$5,821,975	$3,260,979	'	'	'	'	$200,000
Sale of common stock, price per share	'	'	'	'	'	'	$10	'
Common stock, shares outstanding	1,064,991	1,064,991	367,841	1,064,991	20,000	'	'	'
Date satisfying minimum offering amount	'	'	'	'	'	14-Aug-13	'	'
Gross offering proceeds to third party investors	'	'	'	'	'	$9,446,000	'	'

Initial_Public_Offering_Detail

Initial Public Offering (Details Narrative) (Initial Public Offering, USD $)	3 Months Ended
	Sep. 30, 2013
Initial Public Offering (Textual) [Abstract]	'
Date satisfying minimum offering amount	14-Aug-13
Gross offering proceeds	$9,446,000
Offered to Investors	'
Initial Public Offering (Textual) [Abstract]	'
Sale of stock, Description of transaction	'Shares are offered to investors
Issues under initial public offering, Value	$642,500,000
Stock offered, IPO	50,000,000
Price per share	$10
Commencement of Initial Public Offering	1-Nov-11
Offered to Participants in the Company's Distribution Reinvestment Plan	'
Initial Public Offering (Textual) [Abstract]	'
Sale of stock, Description of transaction	'Shares are offered to participants in the Company's distribution reinvestment plan
Stock offered, IPO	15,000,000
Price per share	$9.50

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended		9 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Dec. 31, 2012
Related Party Transactions (Textual) [Abstract]	'	'	'	'	'
Organization and offering costs reimbursed to the Advisor	'	'	$163,525	'	'
Receivable due from dealer manager	9	'	9	'	9,431
Commissions	'	105,900	'	105,900	'
Plymouth Real Estate Investors, Inc. (Advisor)	'	'	'	'	'
Related Party Transactions (Textual) [Abstract]	'	'	'	'	'
Organization and Offering Costs, description	'	'	'Reimbursement of organization and offering costs to the Advisor or its affiliates for cumulative organization and offering expenses, but only to the extent that the total organizational and offering costs borne by the Company do not exceed 15.0% of gross offering proceeds as of the date of the reimbursement.	'	'
Organization and offering costs reimbursed to the Advisor	'	'	380,244	'	'
Asset management fee, description	'	'	'Monthly asset management fees to the Advisor equal to one-twelfth of 1.0% of the sum of the cost of each asset, where cost equals the amount actually paid;	'	'
Asset management fees incurred	'	'	13,125	'	'
Common stock, description	'	'	'Common Stock issuable upon occurrence of certain events will be paid to the Sponsor as an origination fee equal to 3% of the equity funded to acquire the investments. This fee will be payable semi-annually in shares of the Company’s common stock, which shares will be valued at a price equal to the price then payable for shares redeemed under the Company’s share redemption program, provided such price shall not be less than $10.00 per share. The aggregate origination fee payable to the Sponsor will not exceed 3% of the net proceeds of the Company’s primary offering of shares as of the time of such payment. Total shares issued through September 30, 2013 are 26,694 for a value of $266,945.	'	'
Subscription Processing Fee, description	'	'	'Monthly subscription processing fee to the Advisor equal to $35 per subscription agreement received and processed by the Advisor. The Advisor at its sole discretion may defer all or any portion of the $35 per subscription agreement fee payable.	'	'
Expense Reimbursement, description	'	'	'	'	'
			Reimbursement to the Advisor for all expenses paid or incurred by the Advisor in connection with the services provided to the Company, subject to the limitation that the Company will not reimburse our Advisor for any amount by which our operating expenses (including the asset management fee) at the end of the four preceding fiscal quarters exceeds the greater of: (A) 2% of our average invested assets, or (B) 25% of our net income.
Reimbursed general and administrative expenses of Advisor	'	'	542,165	'	'
Termination, description	'	'	'	'	'
			Upon termination or nonrenewal of the advisory agreement, the Advisor shall be entitled to receive an amount, payable in the form of an interest bearing promissory note, equal to 15% of the amount by which (i) our adjusted market value plus distributions exceeds (ii) the aggregate capital contributed by investors plus an amount equal to an 8% cumulative, non-compounded return to investors.
Total organization and offering expenses incurred	'	'	0	'	'
Total acquisition and advisory fees	'	'	0	'	'
Deferred costs and expenses, description	'	'	'Pursuant to the terms of the agreement with its Advisor, Plymouth REI has the right to defer (without interest) receipt of all of these fees and expenses, including an additional $353,977 of organization and offering costs that have yet to be, but could be, billed to the Company.	'	'
Dealer Manager | Expense Sharing Agreement	'	'	'	'	'
Related Party Transactions (Textual) [Abstract]	'	'	'	'	'
Receivable due from dealer manager	0	'	0	'	'
Date of reimbursement from dealer manager	13-Aug-13	'	'	'	'
Commissions	355,050	'	430,470	'	'
Commissions and dealer manager fees	$105,900	'	$105,900	'	'

Investment_in_Joint_Ventures_D

Investment in Joint Ventures (Details Narrative) (USD $)	3 Months Ended		9 Months Ended		3 Months Ended	9 Months Ended	1 Months Ended		1 Months Ended
	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2012	Sep. 30, 2013	Sep. 30, 2013	Aug. 31, 2012	Aug. 17, 2012	Sep. 30, 2012	Sep. 10, 2012
					CHCR II and the Partnership	CHCR II and the Partnership	Colony Hills Capital Residential II, LLC	Colony Hills Capital Residential II, LLC	TCG Cincinnati DRE LP	TCG Cincinnati DRE LP
							Corporate Joint Venture	Corporate Joint Venture	Partnership Interest	Partnership Interest
								Integer		sqft
										Integer
Ownership interest	'	'	'	'	'	'	'	51.50%	'	12.00%
Purchase price for the equity interest acquired	'	'	'	'	'	'	$1,250,000	'	$500,000	'
Number of buildings in property	'	'	'	'	'	'	'	23	'	3
Number of units in multifamily complex	'	'	'	'	'	'	'	270	'	'
Property area (square feet)	'	'	'	'	'	'	'	'	'	576,751
Percent of property occupied at time of acquisition	'	'	'	'	'	'	'	93.30%	'	100.00%
Number of tenants	'	'	'	'	'	'	'	'	'	4
Length of leases, description	'	'	'	'	'	'	'	'	'leases of two to ten years	'
Total purchase price paid by joint venture	'	'	'	'	'	'	13,900,000	'	'	'
Portion of purchase paid for with secured debt	'	'	'	'	'	'	10,600,000	'	'	'
Equity method income (loss)	-27,636	16,477	-176,898	16,477	-27,636	-176,898	'	'	'	'
Cash distributions from investments in joint ventures	'	'	'	'	29,755	109,047	'	'	'	'
Combined revenues	'	'	'	'	'	3,469,316	'	'	'	'
Combined expenses	'	'	'	'	'	$3,469,772	'	'	'	'

Subsequent_Events_Details_Narr

Subsequent Events (Details Narrative) (Subsequent Event)	3 Months Ended
	Sep. 30, 2013
Subsequent Event	'
Date of event	1-Oct-13
Subsequent event	'
	On October 1, 2013, Plymouth Opportunity REIT, Inc. (the "Company") through its operating partnership, Plymouth Opportunity OP LP, completed an investment in TCG 5400 FIB LP ("5400 FIB"), which owns a recently acquired a warehouse facility (the “Property”) in Atlanta, Georgia containing 682,750 rentable square feet of space. The initial purchase price of the Property by 5400 FIB was $21.9 million which included $15.0 million of secured debt. At the time of the investment, the Property was 100% leased. The Company funded its investment in 5400 FIB with $3.5 million of proceeds from its Initial Public Offering.
	On November 7, 2013, the Board of Directors declared a stock dividend of 1.5% of each outstanding share of common stock, $0.01 par value per share, to the stockholders of record at the close of business on December 31, 2013 to be issued on January 15, 2014.