Plymouth Industrial REIT (PLYM) 10-Q 15 May 14 2014 Q1 Quarterly report Financial data

Document_and_Entity_Informatio

Document and Entity Information	3 Months Ended
	Mar. 31, 2014	Apr. 15, 2014
Document And Entity Information	'	'
Entity Registrant Name	'Plymouth Opportunity REIT Inc.	'
Entity Central Index Key	'0001515816	'
Document Type	'10-Q	'
Document Period End Date	31-Mar-14	'
Amendment Flag	'false	'
Current Fiscal Year End Date	'--12-31	'
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	'	1,272,697
Document Fiscal Period Focus	'Q1	'
Document Fiscal Year Focus	'2014	'

Condensed_Consolidated_Balance

Condensed Consolidated Balance Sheets (USD $)	Mar. 31, 2014	Dec. 31, 2013
Assets	'	'
Investments	$4,713,590	$4,830,938
Cash	633,454	265,952
Restricted cash	100,005	'
Security Deposit	71,041	87,774
Due From Affiliate	20,138	13,930
Total Assets	5,538,228	5,198,594
Liabilities and Equity	'	'
Accounts Payable	100,021	158,221
Accrued Expenses	93,700	81,970
Total Liabilities	193,721	240,191
Commitments and Contingencies	'	'
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	12,714	11,751
Common Stock Dividend Distributable	191	176
Total Common Stock	12,905	11,927
Additional Paid In Capital	12,131,908	11,181,512
Accumulated Deficit	-6,800,308	-6,235,036
Total Equity	5,344,505	4,958,403
Total Liabilities and Equity	$5,538,228	$5,198,594

Condensed_Consolidated_Balance1

Condensed Consolidated Balance Sheets (Parenthetical) (USD $)	Mar. 31, 2014	Dec. 31, 2013
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	1,291,782	1,192,695
Common stock, shares outstanding	1,291,782	1,192,695

Condensed_Consolidated_Income_

Condensed Consolidated Income Statements (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Income	'	'
Investment Income	$35,038	$23,263
Total Loss	35,038	23,263
Expenses	'	'
Professional Services	96,424	40,000
Marketing	712	31,905
Rent and Lease Costs	61,406	37,650
Directors fees, including stock compensation	'	42,000
Insurance	19,671	18,969
Salary reimbursement	61,728	426,788
General and Administrative	169,495	41,979
Total Expenses	409,436	639,291
Net loss	($374,398)	($616,028)
Weighted Average Number of Shares Outstanding	1,205,516	216,040
Basic and Diluted Income (Loss) Per Share	($0.31)	($2.85)

Condensed_Consolidated_Stateme

Condensed Consolidated Statement of Equity (Unaudited) (USD $)	Common Stock	Dividend Distributable	Additional Paid-In Capital	Retained Earnings / Accumulated Deficit	Total
Beginning balance at Dec. 31, 2013	$11,751	$176	$11,181,512	($6,235,036)	$4,958,403
Beginning balance (shares) at Dec. 31, 2013	1,192,695	'	'	'	1,192,695
Issuance of common stock for cash, net of share issuance costs of $27,000 (shares)	80,000	'	'	'	'
Issuance of common stock for cash, net of share issuance costs of $27,000	800	'	759,700	'	760,500
Stock dividends distributed (shares)	'	'	'	'	'
Stock dividends distributed	176	-176	'	'	'
Stock dividends distributable (shares)	19,087	'	'	'	'
Stock dividends distributable	'	191	190,683	-190,874	'
Net Income (Loss)	'	'	'	-374,398	-374,398
Ending balance at Mar. 31, 2014	$12,727	$191	$12,131,895	($6,800,308)	$5,344,505
Ending balance (shares) at Mar. 31, 2014	1,291,782	'	'	'	1,291,782

Condensed_Consolidated_Stateme1

Condensed Consolidated Statement of Equity (Parenthetical) (USD $)	3 Months Ended
	Mar. 31, 2014
Statement of Stockholders' Equity [Abstract]	'
Issuance of common stock for cash, share issuance costs	$27,000

Condensed_Consolidated_Stateme2

Condensed Consolidated Statements of Cash Flows (Unaudited) (USD $)	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013
Cash flows from operating activities	'	'
Net loss	($374,398)	($616,028)
Changes in due From affiliate	-6,208	-4,149
Restricted cash	-100,005	-173,509
Investment income	-35,038	-23,263
Directors fees - stock compensation	'	15,001
Investor deposit	'	173,509
Change in security deposit	16,733	'
Change in accounts payable	-58,200	62,448
Change in accrued expenses	11,732	-229,273
Net cash used for operating activities	-545,384	-795,264
Cash flows from investing activities	'	'
Distributions from investments	152,386	44,178
Net cash provided by investing activities	152,386	44,178
Cash flows from financing activities	'	'
Proceeds from issuance of common stock	787,500	752,000
Share issuance costs	27,000	'
Net cash provided by financing activities	760,500	752,000
Net increase in cash	367,502	914
Cash at the beginning of the period	265,952	'
Cash at the end of the period	633,454	175,356
Common stock distributed as dividends:	'	'
Common stock	191	128
Additional paid-in capital	190,683	127,445
Fair value of stock dividend	$190,874	$127,573

Business

Business	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Business	'
	(1) Business
	Plymouth Opportunity REIT, Inc. (the "Company") is a Maryland corporation formed on March 7, 2011. The Company is acquiring and operating 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 invest in 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 tax 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 May 15, 2014, the Company has sold 1,319,786 shares for gross offering proceeds of $11.521 million.
	The Company has retained Plymouth Real Estate Investors, Inc. (the “Advisor”) 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.

Summary_of_Significant_Account

Summary of Significant Accounting Policies	3 Months Ended
	Mar. 31, 2014
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 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, 2013.
	Equity Method Accounting
	The Company may acquire equity interest in various limited partnerships or other entities. In certain cases where we have the ability to exercise significant influence we account for our equity interest under the equity method of accounting. Under the equity method of accounting, we recognize our proportional share of net income or loss as determined under GAAP in our results of operations.
	Income Taxes
	We elected to be taxed as a Real Estate Investment Trust (“REIT”) under the Internal Revenue Code of 1986, as amended, and operate as such beginning with the tax year ending December 31, 2012. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of our 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, we generally will not be subject to federal income tax on income that we distribute as dividends to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our 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 tax years following the year during which qualification is lost, unless we are able to obtain relief under certain statutory provisions. Such an event could materially and adversely affect our net income and net cash available for distribution to stockholders. However, we intend to organize and operate in such a manner as to qualify for treatment as a REIT.
	The Company files income tax returns in the U.S federal jurisdiction and various state jurisdictions. The statute of limitations for the Company’s income tax returns is generally three years and as such, the Company’s returns that remain subject to examination would be primarily from 2011 and thereafter.
	Earnings per Share
	Basic earnings per share are calculated on the basis of weighted-average number of common shares outstanding during the period. Basic earnings per share are computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period.

Initial_Offering

Initial Offering	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Initial Offering	'
	(3) Initial Offering
	The Company had been 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 Public Company’s distribution reinvestment plan at a price of $9.50 per share (the “Initial Offering”).
	The Company commenced the Initial Offering on November 1, 2011. As of May 15, 2014 the Company had reached gross offering proceeds of approximately $11.521 million.
	On January 9, 2014, at the recommendation of the Advisor, and following the approval of its board of directors, the Company terminated the Initial Offering effective as of May 6, 2014.
	In conjunction with the termination of the initial public offering, our board of directors also voted to terminate our distribution reinvestment plan and our share redemption plan effective May 6, 2014.
	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 offering. The Initial 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.

Related_Party_Transactions

Related Party Transactions	3 Months Ended
	Mar. 31, 2014
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 its Advisor which entitles its Advisor to specified fees upon the provision of certain services with regard to the 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 its Advisor on behalf of the Company and certain costs incurred by its Advisor and its affiliates in providing services to the Company.
	The fees the Company incurs under the advisory agreement are as follows:
	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 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. Total organization and offering costs incurred from inception to March 31, 2014 are $1,110,932. Reimbursement of organization and offering costs to the Advisor for the three months ended March 31, 2014 and 2013 were $26,116 and $0, respectively. As of March 31, 2014 all costs have been reimbursed.
	Acquisition and Advisory Fees	Reimbursement of acquisition 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.  There have been no acquisition or advisory fees incurred or paid for the quarters ended March 31, 2014 or 2013.
	Asset Management Fee	Total 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 for the quarters ended March 31, 2014 and 2013 were $14,125 and $4,375, respectively.
	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. No shares were issued for the three months ended March 31, 2014 or 2013.
	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. There have been no subscription or processing fees incurred or paid in the quarters ended March 31, 2014 or 2013.
	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. From inception to March 31, 2014 the Company reimbursed various operating expenses of $1,228,065. Reimbursement to the Advisor for the three months ended March 31, 2014 and 2013 were $0 and $365,000, respectively.
	Termination	Upon termination or nonrenewal of the advisory agreement, our 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, the Advisor has the right to defer (without interest) receipt of all of these fees and expenses.
	As of March 31, 2014 and December 31, 2013, the Company has $20,138 and $13,930 receivable from the Dealer Manager for costs reimbursable under the Expense Sharing Agreement signed August 1, 2012.
	For the three months ended March 31, 2014 and 2013, the Company has incurred $27,000 and $30,080, respectively, in commissions and dealer manager fees to the Dealer Manager related to the issuance of common stock.
	As 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.

Investments

Investments	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Investments	'
	(5) Investments
	On August 17, 2012, the Company, through its Operating Partnership, acquired a 51.5% equity interest in the Class A shares of Colony Hills Capital Residential II, LLC (“CHCR II”). 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 CHCR II 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, 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 interest acquired by the Company was $500,000.
	On October 1, 2013, the Company through its Operating Partnership, completed a $3.5 million 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 was $21.9 million which included $15.0 million of secured debt. At the time of the investment, the Property was 100% leased. On November 15, 2013, the Company, through its Operating Partnership, completed an additional $400,000 equity investment in 5400 FIB and increased its investment to $3.9 million resulting in a 50.3% equity investment.
	The Company funded the purchase price of these investments with proceeds from its Initial Offering.
	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. For the three months ended March 31, 2014 and 2013, the Company recorded $35,038 and $23,263 of income, respectively, and $152,386 and $44,178 of distributions from these investments, respectively.
	For the three months ended March 31, 2014 and 2013, CHCR II, the Partnership and 5400 FIB had combined revenues of $2,103,791, and $1,141,857 and expenses of $1,109,041 and $841,340, respectively.

Equity

Equity	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Equity	'
	(6) Equity
	Distributions
	During the quarter ended March 31, 2014 our Board of Directors declared a stock distribution of 0.015 shares each of our common stock, or 1.5% per distribution of each outstanding share of common stock, to our stockholders of record at the close of business on March 31, 2014 and was issued on April 15, 2014.

Liquidity

Liquidity	3 Months Ended
	Mar. 31, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Liquidity	'
	(7) Liquidity
	At March 31, 2014 the Company had cash of $633,454 and restricted cash of $100,005 for a total of $733,459 and no debt outstanding, and no obligations to fund capital in the existing investments. The Company continues to maintain arrangements with certain of its vendors to limit future expenses related to certain professional services. Also, the Company entered into agreements with its independent directors who agreed to receive all compensation through December 31, 2014 in the form of stock.
	If the Company is unable to generate sufficient liquidity to meet its needs and in a timely manner, the Company may be required to further reduce operating expenses and limit their operations. If the Company is unable to raise additional equity, it would result in the inability to acquire real estate assets or other investments.

Subsequent_Event

Subsequent Event	3 Months Ended
	Mar. 31, 2014
Notes to Financial Statements	'
Subsequent Event	'
	(8) Subsequent Event
	From April 1, 2014 through May 6, 2014 the Company has sold 28,010 shares for gross offering proceeds of $275,000.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies (Policies)	3 Months Ended
	Mar. 31, 2014
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 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, 2013.
Equity Method Accounting	'
	Equity Method Accounting
	The Company may acquire equity interest in various limited partnerships or other entities. In certain cases where we have the ability to exercise significant influence we account for our equity interest under the equity method of accounting. Under the equity method of accounting, we recognize our proportional share of net income or loss as determined under GAAP in our results of operations.
Income Taxes	'
	Income Taxes
	We elected to be taxed as a Real Estate Investment Trust (“REIT”) under the Internal Revenue Code of 1986, as amended, and operate as such beginning with the tax year ending December 31, 2012. To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of our 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, we generally will not be subject to federal income tax on income that we distribute as dividends to our stockholders. If we fail to qualify as a REIT in any taxable year, we will be subject to federal income tax on our 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 tax years following the year during which qualification is lost, unless we are able to obtain relief under certain statutory provisions. Such an event could materially and adversely affect our net income and net cash available for distribution to stockholders. However, we intend to organize and operate in such a manner as to qualify for treatment as a REIT.
	The Company files income tax returns in the U.S federal jurisdiction and various state jurisdictions. The statute of limitations for the Company’s income tax returns is generally three years and as such, the Company’s returns that remain subject to examination would be primarily from 2011 and thereafter.
Earnings Per Share	'
	Earnings per Share
	Basic earnings per share are calculated on the basis of weighted-average number of common shares outstanding during the period. Basic earnings per share are computed by dividing income available to common shareholders by the weighted-average number of common shares outstanding during the period.

Business_Details_Narrative

Business (Details Narrative) (USD $)	3 Months Ended	38 Months Ended	3 Months Ended
	Mar. 31, 2014	15-May-14	Mar. 31, 2014	Mar. 31, 2011	Mar. 10, 2011
			Common Stock	Plymouth Group Real Estate, LLC (Sponsor)	Plymouth Group Real Estate, LLC (Sponsor)
				Common Stock	Common Stock
Shares of common stock (in shares)	'	1,319,786	80,000	20,000	'
Proceeds from sale of common stock	$760,500	'	$800	$200,000	'
Sale of common stock, price per share	'	'	'	'	$10
Gross offering proceeds	'	$11,521,000	'	'	'

Summary_of_Significant_Account2

Summary of Significant Accounting Policies - Income Taxes (Details Narrative)	3 Months Ended
	Mar. 31, 2014
Summary Of Significant Accounting Policies - Income Taxes Details Narrative	'
REIT income distribution requirement	'To qualify as a REIT, we must meet certain organizational and operational requirements, including a requirement to distribute at least 90% of our annual REIT taxable income to stockholders

Initial_Offering_Details_Narra

Initial Offering (Details Narrative) (USD $)	38 Months Ended	3 Months Ended
	15-May-14	Mar. 31, 2014	Mar. 31, 2014
		Initial Public Offering	Initial Public Offering
		Offered to Investors	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 investors	'Shares are offered to participants in the Company's distribution reinvestment plan
Issues under initial public offering, Value	'	$642,500,000	'
Stock offered, IPO	'	50,000,000	15,000,000
Price per share	'	'	$9.50
Gross offering proceeds	$11,521,000	'	'
Commencement date of Initial Offering	'	1-Nov-11	'
Termination date of the Initial Offering	'	6-May-14	'

Related_Party_Transactions_Det

Related Party Transactions (Details Narrative) (USD $)	3 Months Ended			3 Months Ended		36 Months Ended	3 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Dec. 31, 2013	Mar. 31, 2014	Mar. 31, 2013	Mar. 31, 2014	Mar. 31, 2014	Mar. 31, 2013
				Plymouth Real Estate Investors, Inc. (Advisor)	Plymouth Real Estate Investors, Inc. (Advisor)	Plymouth Real Estate Investors, Inc. (Advisor)	Dealer Manager	Dealer Manager
							Expense Sharing Agreement	Expense Sharing Agreement
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.	'	'	'	'
Total organization and offering costs incurred from inception	'	'	'	'	'	$1,110,932	'	'
Organization and offering costs reimbursed to the Advisor	27,000	'	'	26,116	0	'	'	'
Acquisition or advisory fees incurred	'	'	'	0	0	'	'	'
Acquisition or advisory fees paid	'	'	'	0	0	'	'	'
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	'	'	'	14,125	4,375	'	'	'
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.	'	'	'	'
Common stock issued	1,291,782	'	1,192,695	0	0	0	'	'
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.	'	'	'	'
Subscription processing fees incurred	'	'	'	0	0	'	'	'
Subscription processing fees paid	'	'	'	0	0	'	'	'
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 operating expenses of Advisor	'	'	'	0	365,000	1,228,065	'	'
Termination, description	'	'	'	'Upon termination or nonrenewal of the advisory agreement, our 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.	'	'	'	'
Deferred costs and expenses, description	'	'	'	'Pursuant to the terms of the agreement with its Advisor, the Advisor has the right to defer (without interest) receipt of all of these fees and expenses.	'	'	'	'
Receivable due from dealer manager	20,138	'	13,930	'	'	'	20,138	13,930
Commissions and dealer manager fees incurred	'	'	'	'	'	'	$27,000	$30,080

Investments_Details_Narrative

Investments (Details Narrative) (USD $)	3 Months Ended		2 Months Ended	3 Months Ended	1 Months Ended		1 Months Ended		0 Months Ended
	Mar. 31, 2014	Mar. 31, 2013	Mar. 01, 2013	Mar. 31, 2014	Aug. 31, 2012	Aug. 17, 2012	Sep. 30, 2012	Sep. 10, 2012	Nov. 15, 2013	Oct. 01, 2013	Dec. 31, 2013
			CHCR II, TCG Cincinnati DRE LP, and TCG 5400 FIB LP	CHCR II, TCG Cincinnati DRE LP, and TCG 5400 FIB LP	Colony Hills Capital Residential II, LLC	Colony Hills Capital Residential II, LLC	TCG Cincinnati DRE LP	TCG Cincinnati DRE LP	TCG 5400 FIB LP	TCG 5400 FIB LP	TCG 5400 FIB LP
						Integer		sqft			sqft
								Integer
Ownership interest	'	'	'	'	'	51.50%	'	12.00%	'	'	50.30%
Purchase price for the equity interest acquired	'	'	'	'	$1,250,000	'	$500,000	'	$400,000	$3,500,000	'
Total equity investment	'	'	'	'	'	'	'	'	'	'	3,900,000
Number of buildings in property	'	'	'	'	'	23	'	3	'	'	'
Number of units in multifamily complex	'	'	'	'	'	270	'	'	'	'	'
Property area (square feet)	'	'	'	'	'	'	'	576,751	'	'	682,750
Percent of property occupied at time of acquisition	'	'	'	'	'	93.30%	'	100.00%	'	'	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	'	'	'	'	21,900,000	'
Portion of purchase paid for with secured debt	'	'	'	'	10,600,000	'	'	'	'	15,000,000	'
Equity method income	35,038	23,263	23,263	35,038	'	'	'	'	'	'	'
Cash distributions from investments in joint ventures	'	'	44,178	152,386	'	'	'	'	'	'	'
Combined revenues	35,038	23,263	1,141,857	2,103,791	'	'	'	'	'	'	'
Combined expenses	$409,436	$639,291	$841,340	$1,109,041	'	'	'	'	'	'	'

Equity_Details_Narrative

Equity (Details Narrative)	3 Months Ended
	Mar. 31, 2014
Equity [Abstract]	'
Stock distributions, description	'
	During the quarter ended March 31, 2014 our Board of Directors declared a stock distribution of 0.015 shares each of our common stock, or 1.5% per distribution of each outstanding share of common stock, to our stockholders of record at the close of business on March 31, 2014 and was issued on April 15, 2014.

Liquidity_Details_Narrative

Liquidity (Details Narrative) (USD $)	3 Months Ended
	Mar. 31, 2014	Dec. 31, 2013	Mar. 31, 2013
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'	'	'
Cash	$633,454	$265,952	$175,356
Restricted cash	100,005	'	'
Total cash assets	733,459	'	'
Debt outstanding	$0	'	'
Investment oblgations, description	'no obligations to fund capital in the existing investments	'	'

Subsequent_Events_Details_Narr

Subsequent Events (Details Narrative) (Subsequent Event)	3 Months Ended
	Mar. 31, 2014
Subsequent Event	'
Subsequent event	'From April 1, 2014 through May 6, 2014 the Company has sold 28,010 shares for gross offering proceeds of $275,000.