Lightstone Value Plus REIT IV (LTSV) 10-K 15 Mar 16 2015 FY Annual report Financial data

Document And Entity Information

Document And Entity Information - USD ($)	12 Months Ended
	Dec. 31, 2015	Mar. 04, 2016	Jun. 30, 2015
Document Information [Line Items]
Document Type	10-K
Amendment Flag	false
Document Period End Date	Dec. 31, 2015
Document Fiscal Year Focus	2,015
Document Fiscal Period Focus	FY
Entity Registrant Name	Lightstone Real Estate Income Trust Inc.
Entity Central Index Key	1,619,312
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	Smaller Reporting Company
Entity Public Float			$ 0
Entity Common Stock, Shares Outstanding		672,783

BALANCE SHEETS

BALANCE SHEETS - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets
Investment in related party	$ 4,000,000	$ 0
Cash	1,213,014	200,000
Prepaid expenses	434	0
Total Assets	5,213,448	200,000
Liabilities and Stockholders' Equity
Accounts payable and other accrued expenses	171,105	0
Due to related parties	865,436	0
Distributions payable	46,170	0
Total liabilities	$ 1,082,711	$ 0
Commitments and Contingencies
Stockholders' Equity:
Preferred stock, $0.01 par value; 50,000,000 shares and none authorized, respectively, none issued and outstanding	$ 0	$ 0
Common stock, $0.01 par value; 200,000,000 and 20,000 shares authorized, respectively, 723,975 and 20,000 shares issued and outstanding, respectively	7,240	200
Additional paid-in-capital	4,425,374	199,800
Subscription receivable	(1,000)	0
Accumulated deficit	(300,877)	0
Total Stockholders' Equity	4,130,737	200,000
Total Liabilities and Stockholders' Equity	$ 5,213,448	$ 200,000

BALANCE SHEETS (Parenthetical)

BALANCE SHEETS (Parenthetical) - $ / shares	Dec. 31, 2015	Dec. 31, 2014
Preferred Stock, par value per share	$ 0.01	$ 0.01
Preferred Stock, shares authorized	50,000,000
Preferred Stock, shares issued
Preferred Stock, shares outstanding
Common Stock, par value per share	$ 0.01	$ 0.01
Common Stock, shares authorized	200,000,000	20,000
Common Stock, shares issued	723,975	20,000
Common Stock, shares outstanding	723,975	20,000

STATEMENTS OF OPERATIONS

STATEMENTS OF OPERATIONS - USD ($)	4 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
Investment income	$ 0	$ 49,333
Expenses:
General and administrative costs	0	163,157
Total expenses	0	163,157
Net loss	$ 0	$ (113,824)
Net loss per common share, basic and diluted	$ 0	$ (0.45)
Weighted average number of common shares outstanding, basic and diluted	6,082	251,901

STATEMENTS OF STOCKHOLDERS' EQU

STATEMENTS OF STOCKHOLDERS' EQUITY - USD ($)	Total	Common Shares [Member]	Additional Paid-In Capital [Member]	Subscription Receivable [Member]	Accumulated Deficit [Member]
Balance at Sep. 08, 2014	$ 0	$ 0	$ 0	$ 0	$ 0
Balance (in shares) at Sep. 08, 2014		0
Net loss	0
Issuance of common stock/ offering	200,000	$ 200	199,800	0	0
Issuance of common stock/ offering (in shares)		20,000
Balance at Dec. 31, 2014	200,000	$ 200	199,800	0	0
Balance (in shares) at Dec. 31, 2014		20,000
Net loss	(113,824)	$ 0	0	0	(113,824)
Distributions declared	(187,053)				(187,053)
Issuance of common stock/ offering	6,585,456	$ 7,024	6,579,432	(1,000)	0
Issuance of common stock/ offering (in shares)		702,404
Shares issued from distribution reinvestment program	14,932	$ 16	14,916	0	0
Shares issued from distribution reinvestment program (in shares)		1,571
Selling commissions and dealer manager fees	(258,816)	$ 0	(258,816)	0	0
Other offering costs	(2,109,958)	0	(2,109,958)	0	0
Balance at Dec. 31, 2015	$ 4,130,737	$ 7,240	$ 4,425,374	$ (1,000)	$ (300,877)
Balance (in shares) at Dec. 31, 2015		723,975

STATEMENTS OF CASH FLOWS

STATEMENTS OF CASH FLOWS - USD ($)	4 Months Ended	12 Months Ended
	Dec. 31, 2014	Dec. 31, 2015
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ 0	$ (113,824)
Changes in assets and liabilities:
Increase in prepaid expenses and other assets		(434)
Increase in accounts payable and other accrued expenses	0	26,453
Increase in due to related parties	0	39,310
Net cash used in operating activities	0	(48,495)
CASH FLOWS FROM INVESTING ACTIVITIES:
Investment in related party	0	(4,000,000)
Cash used in financing activities	0	(4,000,000)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from issuance of common stock	200,000	6,585,456
Payment of commissions and offering costs	0	(1,397,996)
Distributions paid to Company's common stockholders	0	(125,951)
Net cash provided by financing activities	200,000	5,061,509
Net change in cash	200,000	1,013,014
Cash, beginning of period	0	200,000
Cash, end of year	200,000	1,213,014
Supplemental disclosure of cash flow information:
Distributions declared, but not paid	0	46,170
Commissions and other offering costs accrued but not paid	0	970,778
Subscription receivable	0	1,000
Value of shares issued from distribution reinvestment program	$ 0	$ 14,932

Organization

Organization	12 Months Ended
	Dec. 31, 2015
Organization [Abstract]
Organization	1. Organization Lightstone Real Estate Income Trust Inc. (‘‘Lightstone Income Trust’’), incorporated on September 9, 2014 Lightstone Income Trust sold 20,000 200,000 10.00 Mr. Lichtenstein also is a majority owner of the equity interests of Lightstone Income Trust’s sponsor, The Lightstone Group, LLC (the ‘‘Sponsor’’) which owns a diversified portfolio of over 100 10,285 1.5 25 3.3 21 383 Subject to the oversight of the Company’s board of directors (the “Board of Directors”), the Advisor has primary responsibility for making investment decisions and managing the Company’s day-to-day operations. Mr. Lichtenstein also acts as the Company’s Chairman and Chief Executive Officer. As a result, he exerts influence over but does not control the Lightstone Income Trust. Lightstone Income Trust, together with any of its subsidiaries that may exist from time to time, are collectively referred to as the ‘‘Company’’ and the use of ‘‘we,’’ ‘‘our,’’ ‘‘us’’ or similar pronouns refers to Lightstone Income Trust or the Company as required by the context in which any such pronoun is used. The Company’s registration statement on Form S-11 (the “Offering”), pursuant to which it is offering to sell up to 30,000,000 0.01 10.00 10,000,000 9.50 6.8 723,975 2.0 9.00 The Company has and will continue to seek to originate, acquire and manage a diverse portfolio of real estate-related investments. The Company may invest in mezzanine loans, first lien mortgage loans, second lien mortgage loans, bridge loans and preferred equity interests, in each case with a focus on investments intended to finance development or redevelopment opportunities. The Company may also invest in debt and derivative securities related to real estate assets. The Company expects that a majority of its investments by value will be secured by or related to properties or entities advised by, or wholly or partially, directly or indirectly owned by, the Sponsor, by its affiliates or by real estate investment programs sponsored by it. The Company has no employees. The Company retains the Advisor to manage its affairs on a day-to-day basis. Orchard Securities, LLC (the ‘‘Dealer Manager’’), a third party not affiliated with the Company, the Sponsor or the Advisor, will serve as the dealer manager of the Offering. The Advisor is an affiliate of the Sponsor and will receive compensation and fees for services related to the investment and management of the Company’s assets. The Advisor will receive fees during the organization and offering, operational and liquidation/listing stages. (See Note 4 for a summary of related-party fees.)

Summary of Significant Accounti

Summary of Significant Accounting Policies	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Summary of Significant Accounting Policies	2. Summary of Significant Accounting Policies The financial statements include the accounts of Lightstone Income Trust. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates. Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method. The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash and cash equivalents are held in commercial paper and money market funds. Real estate-related debt investments are intended to be held until maturity and accordingly, will be carried at cost, net of unamortized loan fees, origination fees, discounts, premiums and unfunded commitments. Real estate-related debt investments that are deemed impaired will be carried at amortized cost less a loan loss reserve, if deemed appropriate, which approximates fair value. Real estate-related debt investments where the Company does not intend to hold the investment for the foreseeable future or until the debt investment’s expected payoff will be classified as available for sale and recorded at the lower of cost or estimated value. Interest income will be recognized on an accrual basis and any related premium, discount, origination costs and fees will be amortized over the life of the investment using the effective interest method. The amortization will be reflected as an adjustment to interest income in the Company’s statements of operations. The amortization of a premium or accretion of a discount will be discontinued if such debt investment is reclassified to held for sale. Real estate securities will be classified as available for sale on the acquisition date, which will be carried at fair value. Unrealized gains (losses) will be recorded as a component of accumulated other comprehensive income, or AOCI, in the Company’s statements of stockholders’ equity. However, the Company may elect the fair value option for certain of the available-for-sale securities, and as a result, any unrealized gains (losses) on such securities will be recorded in unrealized gain (loss) on investments in the Company’s statements of operations. Interest income will be recognized using the effective interest method with any premium or discount amortized or accreted through earnings based on expected cash flow through the expected maturity date of the security. Changes to expected cash flow may result in a change to the yield, which will then be applied retrospectively for high-credit-quality securities that cannot be prepaid or otherwise settled in such a way that the holder would not recover substantially all the investment or prospectively for all other securities to recognize interest income. Real Estate-Related Debt Investments Real estate-related debt investments will be considered impaired when, based on current information and events, it is probable that the Company will not be able to collect principal and interest amounts due according to the contractual terms. The Company will assess the credit quality of the portfolio and adequacy of loan loss reserves on a quarterly basis, or more frequently as necessary. Significant judgment of management will be required in this analysis. The Company will consider the estimated net recoverable value of the debt investment as well as other factors, including but not limited to the fair value of any collateral, the amount and the status of any senior debt, the quality and financial condition of the borrower and the competitive situation of the area where the underlying collateral is located. Because this determination will be based on projections of future economic events, which are inherently subjective, the amount ultimately realized may differ materially from the carrying value as of the balance sheet date. If upon completion of the assessment, the estimated fair value of the underlying collateral is less than the net carrying value of the debt investment, a loan loss reserve will be recorded with a corresponding charge to provision for loan losses. The loan loss reserve for each debt investment will be maintained at a level that is determined to be adequate by management to absorb probable losses. Income recognition will be suspended for a debt investment at the earlier of the date at which payments become 90 days past due or when, in the opinion of management, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired debt investment is in doubt, all payments will be applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired debt investment is not in doubt, contractual interest will be recorded as interest income when received, under the cash basis method, until an accrual is resumed when the debt investment becomes contractually current and performance is demonstrated to be resumed. A debt investment will be written off when it is no longer realizable or is legally discharged. Real Estate Securities Real estate securities for which the fair value option is elected will not be evaluated for other-than-temporary impairment (‘‘OTTI’’) as any change in fair value will be recorded in the Company’s statements of operations. Realized losses on such securities will be reclassified to realized gain (loss) on investments and other as losses occur. Real estate securities for which the fair value option is not elected will be evaluated for OTTI quarterly. Impairment of a security is considered to be other-than-temporary when: (a) the holder has the intent to sell the impaired security; (b) it is more likely than not the holder will be required to sell the security; or (c) the holder does not expect to recover the entire amortized cost of the security. When a real estate security has been deemed to be other-than-temporarily impaired due to (a) or (b), the security will be written down to its fair value and an OTTI will be recognized in the statements of operations. In the case of (c), the security will be written down to its fair value and the amount of OTTI will then be bifurcated into: (i) the amount related to expected credit losses; and (ii) the amount related to fair value adjustments in excess of expected credit losses. The portion of OTTI related to expected credit losses will be recognized in the Company’s statements of operations. The remaining OTTI related to the valuation adjustment will be recognized as a component of accumulated other comprehensive income in the Company’s statements of stockholders’ equity. The portion of OTTI recognized through earnings will be accreted back to the amortized cost basis of the security through interest income, while amounts recognized through other comprehensive income will be amortized over the life of the security with no impact on earnings. Real estate securities which are not high- credit-quality will be considered to have an OTTI if the security has an unrealized loss and there has been an adverse change in expected cash flow. The amount of OTTI will then be bifurcated as discussed above. The Company will capitalize initial direct costs associated with financing activities. The costs will be capitalized upon the execution of the loan and amortized over the initial term of the corresponding loan. Amortization of deferred loan costs will begin in the period during which the loan is originated using the effective interest method over the term of the loan. As of December 31, 2014, the Company was subject to federal income taxes as a regular (subchapter C) corporation. The Company intends to elect to be taxed as a REIT commencing with the taxable year ended December 31, 2015. If the Company qualifies as a REIT, it generally will not be subject to U.S. federal income tax on its taxable income or capital gain that it distributes to its stockholders. To maintain its REIT qualification, the Company must meet a number of organizational and operational requirements, including a requirement that it annually distribute to its stockholders at least 90 As of December 31, 2015 and 2014, the Company had no material uncertain income tax positions. Additionally, even if the Company qualifies as a REIT for U.S. federal income tax purposes, it may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on its undistributed income. Organization costs are expensed as incurred. Offering costs include all the costs incurred in connection with the Offering. Organization and offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor on behalf of the Company. These costs include all costs and expenses paid by the Company in connection with its formation and the Offering, including the Company’s legal, accounting, printing, mailing and filing fees, charges of the escrow agent, reimbursements to the Dealer Manager and participating broker-dealers for due diligence expenses set forth in detailed and itemized invoices, amounts to reimburse the Advisor for its portion of the salaries of the employees of its affiliates who provide services to the Advisor, and other costs in connection with oversight of such Offering and the marketing process, such as preparing supplemental sales materials, holding educational conferences and attending retail seminars conducted by the Dealer Manager or participating broker-dealers. The Advisor has and will continue to advance organization and offering costs to the extent that the Company does not have the funds to pay such costs. Subsequent to June 12, 2015 (date of breaking escrow), the Company recorded any offering costs incurred ($ 0.8 39,000 The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the balance sheet. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the balance sheet as either an asset or liability, with a corresponding amount recorded in AOCI within stockholder’s equity. Amounts will be reclassified from AOCI to the statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss will be initially reported as a component of AOCI and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss will be reported in earnings immediately. The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents. Net earnings per Common Share will be computed by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding. Pronouncements In May 2014, the Financial Accounting Standards Board Financial Accounting Standards Board (“FASB”) issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. In August 2015, the FASB decided to delay the effective date of the new revenue standard by one year. The Company is currently evaluating the requirements and impact of this update on its financial statements. In April 2015, the FASB issued an accounting standards update to simplify the presentation of debt issuance costs. This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The SEC staff noted that this update did not address situations where a company has debt issuance costs related to line-of-credit arrangements. As a result, the FASB issued an additional update which states that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. This new guidance will be effective for the Company beginning January 1, 2016. We do not expect the adoption of this standard to have a material impact on our financial position, results of operations or cash flows.

Stockholders' Equity

Stockholders' Equity	12 Months Ended
	Dec. 31, 2015
Stockholder's Equity [Abstract]
Stockholder's Equity	3. Stockholders’ Equity Preferred Stock The Company’s charter authorizes the Company’s board of directors to designate and issue one or more classes or series of preferred stock without approval of the holders of Common Shares. On February 11, 2015, the Company amended and restated its charter to authorize the issuance of 50,000,000 Common Shares Subject to the restrictions on ownership and transfer of stock contained in the Company’s charter and except as may otherwise be specified in the charter, the holders of Common Shares will be entitled to one vote per Common Share on all matters submitted to a stockholder vote, including the election of the Company’s directors. There will be no cumulative voting in the election of directors. Therefore, the holders of a majority of outstanding Common Shares will be able to elect the Company’s entire board of directors. Except as the Company’s charter may provide with respect to any series of preferred stock that the Company may issue in the future, the holders of Common Shares will possess exclusive voting power. Holders of the Company’s Common Shares will be entitled to receive such distributions as authorized from time to time by the Company’s board of directors and declared out of legally available funds, subject to any preferential rights of any preferred stock that the Company issues in the future. In any liquidation, each outstanding Common Share will entitle its holder to share (based on the percentage of Common Shares held) in the assets that remain after the Company pays its liabilities and any preferential distributions owed to preferred stockholders. Holders of Common Shares will not have preemptive rights, which means that there will be no automatic option to purchase any new Common Shares that the Company issues, nor will holders of Common Shares have any preference, conversion, exchange, sinking fund or redemption rights. Holders of Common Shares will not have appraisal rights unless the board of directors determines that appraisal rights apply, with respect to all or any classes or series of stock, to a particular transaction or all transactions occurring after the date of such determination in connection with which holders of such Common Shares would otherwise be entitled to exercise appraisal rights. Common Shares will be nonassessable by the Company upon its receipt of the consideration for which the board of directors authorized their issuance. On February 11, 2015, the Company amended and restated its charter to authorize the issuance of 200,000,000 Stock Incentive Plan On June 9, 2015 the Company’s Board of Directors approved the termination of the Company’s stock incentive plan. No awards were granted under the plan prior to its termination. Subscription Receivable The subscription receivable relates to shares issued to the Company’s shareholders for which the proceeds have not yet been received by the Company solely due to a fact of timing of transfers from the escrow agent holding the funds.

Related Party Transaction and O

Related Party Transaction and Other Arrangements	12 Months Ended
	Dec. 31, 2015
Related Party Transaction and Other Arrangements [Abstract]
Related Party Transaction and Other Arrangements	4. Related Party Transaction and Other Arrangements The Company has agreements with the Dealer Manager and the Advisor to pay certain fees, as follows, in exchange for services performed by these entities and other affiliated entities. The following table summarizes all the compensation and fees the Company may pay to the Dealer Manager or to the Advisor or its affiliates, including amounts to reimburse their costs in providing services. During the first quarter of 2015, prior to breaking escrow, the Company paid $ 33,260 109,235 a reduction to additional paid in capital The Advisor has and will continue to advance the organization and offering costs to the extent that the Company does not have the funds to pay such costs. 0.9 Organization and Offering Stage Fees Amount Selling Commissions The Dealer Manager receives selling commissions in an amount of up to 7 21.0 30 7.5 2.5 1 10 125,296 Dealer Manager Fee The Dealer Manager receives a dealer manager fee in an amount of up to 3 2.5 7.5 9.0 133,520 Organization and Offering Expenses The Company reimburses the Advisor for all organization and offering expenses that it funds in connection with the Offering, other than the selling commissions and dealer manager fee. The Company expects that such organization and offering expenses, other than selling commissions and dealer manager fee, will amount to approximately 2 15 the Offering. From the Company’s inception through December 31, 2015, approximately 2.1 Operational Stage Fees Amount Acquisition Fee The Company pays to the Advisor or its affiliates 1 10.6 30 75 Acquisition Expenses The Company reimburses the Advisor for expenses actually incurred related to selecting, originating or acquiring investments on the Company’s behalf, regardless of whether the Company actually acquires the related investments. In addition, the Company pays third parties, or reimburse the Advisor or its affiliates, for any investment-related expenses due to third parties, including, but not limited to, legal fees and expenses, travel and communications expenses, accounting fees and expenses and other closing costs and miscellaneous expenses, regardless of whether the Company acquires the related investments. The Company estimates that total acquisition expenses (including those paid to third parties, as described above) will be approximately 0.6 5 6.3 30 Asset Management Fee The Company pays the Advisor or its assignees a monthly asset management fee equal to one-twelfth (1/12) of 1 Operating Expenses Beginning 12 months after the original effective date of the Offering, the Company reimburses the Advisor’s costs of providing administrative services, subject to the limitation that the Company generally will not reimburse the Advisor for any amount by which the total operating expenses at the end of the four preceding fiscal quarters exceeds the greater of (i) 2% of average invested assets (as defined in the advisory agreement), and (ii) 25% of net income other than any additions to reserves for depreciation, bad debt or other similar non-cash reserves and excluding any gain from the sale of investments for that period. After the end of any fiscal quarter for which the Company’s total operating expenses exceed this 2 25 Additionally, the Company reimburses the Advisor for personnel costs in connection with other services; however, the Company does not reimburse the Advisor for (a) services for which the Advisor or its affiliates are entitled to compensation in the form of a separate fee, or (b) the salaries and benefits of the Company’s named executive officers. Liquidation/Listing Stage Fees Amount Disposition Fee For substantial assistance in connection with the sale of investments and based on the services provided, as determined by the Company’s independent directors, the Company will pay to the Advisor or any of its affiliates a disposition fee equal to up to 1 1 Annual Subordinated Performance Fee The Company will pay the Advisor an annual subordinated performance fee calculated on the basis of the annual return to holders of Common Shares, payable annually in arrears. Specifically, in any year in which holders of Common Shares receive payment of an 8 15 provided 10 provided further Subordinated Participation in Net Sales Proceeds (payable only if the Company is not listed on an exchange and the advisory agreement is not terminated or non-renewed) The Advisor will receive from time to time, when available, including in connection with a merger, consolidation or sale, or other disposition of all or substantially all the Company’s assets, 15 Subordinated Incentive Listing Fee (payable only if we are listed on an exchange) Upon the listing of the Common Shares on a national securities exchange, including a listing in connection with a merger or other business combination, the Advisor will receive a fee equal to 15 Subordinated Fee upon Termination or Non- Renewal of the Advisory Agreement Upon termination or non-renewal of the advisory agreement with or without cause, including for poor performance by the Advisor, the Advisor will be entitled to receive a fee equal to 15 provided, however Preferred Investment 105-109 W. 28 th On November 25, 2015, the Company entered into an agreement with various related party entities that provides for the Company to make aggregate preferred equity contributions (the “105-109 W. 28 th 20.0 th th 12 th th The Company commenced making contributions during the fourth quarter of 2015 and as of December 31, 2015, the 105-109 W. 28 th 4.0 16.0 th 49,333 th transaction.

Commitments and Contingencies

Commitments and Contingencies	12 Months Ended
	Dec. 31, 2015
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	5. Commitments and Contingencies Legal Proceedings From time to time in the ordinary course of business, the Company may become subject to legal proceedings, claims or disputes.

Quarterly Financial Data

Quarterly Financial Data	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Quarterly Financial Data	6. Quarterly Financial Data (Unaudited) 2015 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Net loss $ (113,824) $ (15,475) $ (45,678) $ (47,258) $ (5,413) Net loss applicable to Company's common shares $ (113,824) $ (15,475) $ (45,678) $ (47,258) $ (5,413) Net loss per common share, basic and diluted $ (0.45) $ (0.03) $ (0.14) $ (0.78) $ (0.27)

Distributions

Distributions	12 Months Ended
	Dec. 31, 2015
Distributions [Abstract]
Distributions	7. Distributions Distribution Declaration On October 28, 2015, the Board of Directors authorized and the Company declared a distribution rate which is calculated based on stockholders of record each day during the applicable period at a rate of $ 0.002191781 365 8.0 10.00 On March 11, 2016, the Board of Directors authorized and the Company declared a distribution for each month during the three-month period ending May 31, 2016. The distributions will be calculated based on shareholders of record at a rate of $ 0.002191781 365 8.0 10.00 Total distributions declared during the year ended December 31, 2015 were $ 187,053 Distribution Payments On December 15, 2015 and January 15, 2016, the Company paid the distributions from June 12, 2015 (date of breaking escrow) through November 30, 2015 and December 31, 2015, respectively, of $ 187,053 2,342 9.50 164,806 88 22,247 12

Subsequent Events

Subsequent Events	12 Months Ended
	Dec. 31, 2015
Subsequent Event [Abstract]
Subsequent Events	8. Subsequent Events During the first quarter of 2016, the Company contributed an additional $ 2.1 th 6.1 13.9

Summary of Significant Accoun15

Summary of Significant Accounting Policies (Policies)	12 Months Ended
	Dec. 31, 2015
Summary of Significant Accounting Policies [Abstract]
Basis of Presentation	Basis of Presentation The financial statements include the accounts of Lightstone Income Trust. The financial statements have been prepared in accordance with accounting principles generally accepted in the United States of America (“GAAP”). GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities and the reported amounts of revenues and expenses during a reporting period. The most significant assumptions and estimates relate to the valuation of real estate and investments in other real estate entities, depreciable lives of long-lived assets and revenue recognition. Application of these assumptions requires the exercise of judgment as to future uncertainties and, as a result, actual results could differ from these estimates. Investments in other real estate entities where the Company has the ability to exercise significant influence, but does not exercise financial and operating control, and is not considered to be the primary beneficiary will be accounted for using the equity method. Investments in other real estate entities where the Company has virtually no influence will be accounted for using the cost method.
Cash	Cash The Company considers all highly liquid investments with an original maturity of three months or less when purchased to be cash equivalents. All cash and cash equivalents are held in commercial paper and money market funds.
Real Estate-Related Debt Investments	Real Estate-Related Debt Investments Real estate-related debt investments are intended to be held until maturity and accordingly, will be carried at cost, net of unamortized loan fees, origination fees, discounts, premiums and unfunded commitments. Real estate-related debt investments that are deemed impaired will be carried at amortized cost less a loan loss reserve, if deemed appropriate, which approximates fair value. Real estate-related debt investments where the Company does not intend to hold the investment for the foreseeable future or until the debt investment’s expected payoff will be classified as available for sale and recorded at the lower of cost or estimated value. Interest income will be recognized on an accrual basis and any related premium, discount, origination costs and fees will be amortized over the life of the investment using the effective interest method. The amortization will be reflected as an adjustment to interest income in the Company’s statements of operations. The amortization of a premium or accretion of a discount will be discontinued if such debt investment is reclassified to held for sale.
Real Estate Securities	Real Estate Securities Real estate securities will be classified as available for sale on the acquisition date, which will be carried at fair value. Unrealized gains (losses) will be recorded as a component of accumulated other comprehensive income, or AOCI, in the Company’s statements of stockholders’ equity. However, the Company may elect the fair value option for certain of the available-for-sale securities, and as a result, any unrealized gains (losses) on such securities will be recorded in unrealized gain (loss) on investments in the Company’s statements of operations. Interest income will be recognized using the effective interest method with any premium or discount amortized or accreted through earnings based on expected cash flow through the expected maturity date of the security. Changes to expected cash flow may result in a change to the yield, which will then be applied retrospectively for high-credit-quality securities that cannot be prepaid or otherwise settled in such a way that the holder would not recover substantially all the investment or prospectively for all other securities to recognize interest income.
Credit Losses and Impairment on Investments	Credit Losses and Impairment on Investments Real Estate-Related Debt Investments Real estate-related debt investments will be considered impaired when, based on current information and events, it is probable that the Company will not be able to collect principal and interest amounts due according to the contractual terms. The Company will assess the credit quality of the portfolio and adequacy of loan loss reserves on a quarterly basis, or more frequently as necessary. Significant judgment of management will be required in this analysis. The Company will consider the estimated net recoverable value of the debt investment as well as other factors, including but not limited to the fair value of any collateral, the amount and the status of any senior debt, the quality and financial condition of the borrower and the competitive situation of the area where the underlying collateral is located. Because this determination will be based on projections of future economic events, which are inherently subjective, the amount ultimately realized may differ materially from the carrying value as of the balance sheet date. If upon completion of the assessment, the estimated fair value of the underlying collateral is less than the net carrying value of the debt investment, a loan loss reserve will be recorded with a corresponding charge to provision for loan losses. The loan loss reserve for each debt investment will be maintained at a level that is determined to be adequate by management to absorb probable losses. Income recognition will be suspended for a debt investment at the earlier of the date at which payments become 90 days past due or when, in the opinion of management, a full recovery of income and principal becomes doubtful. When the ultimate collectability of the principal of an impaired debt investment is in doubt, all payments will be applied to principal under the cost recovery method. When the ultimate collectability of the principal of an impaired debt investment is not in doubt, contractual interest will be recorded as interest income when received, under the cash basis method, until an accrual is resumed when the debt investment becomes contractually current and performance is demonstrated to be resumed. A debt investment will be written off when it is no longer realizable or is legally discharged. Real Estate Securities Real estate securities for which the fair value option is elected will not be evaluated for other-than-temporary impairment (‘‘OTTI’’) as any change in fair value will be recorded in the Company’s statements of operations. Realized losses on such securities will be reclassified to realized gain (loss) on investments and other as losses occur. Real estate securities for which the fair value option is not elected will be evaluated for OTTI quarterly. Impairment of a security is considered to be other-than-temporary when: (a) the holder has the intent to sell the impaired security; (b) it is more likely than not the holder will be required to sell the security; or (c) the holder does not expect to recover the entire amortized cost of the security. When a real estate security has been deemed to be other-than-temporarily impaired due to (a) or (b), the security will be written down to its fair value and an OTTI will be recognized in the statements of operations. In the case of (c), the security will be written down to its fair value and the amount of OTTI will then be bifurcated into: (i) the amount related to expected credit losses; and (ii) the amount related to fair value adjustments in excess of expected credit losses. The portion of OTTI related to expected credit losses will be recognized in the Company’s statements of operations. The remaining OTTI related to the valuation adjustment will be recognized as a component of accumulated other comprehensive income in the Company’s statements of stockholders’ equity. The portion of OTTI recognized through earnings will be accreted back to the amortized cost basis of the security through interest income, while amounts recognized through other comprehensive income will be amortized over the life of the security with no impact on earnings. Real estate securities which are not high- credit-quality will be considered to have an OTTI if the security has an unrealized loss and there has been an adverse change in expected cash flow. The amount of OTTI will then be bifurcated as discussed above.
Deferred Financing Costs	Deferred Financing Costs The Company will capitalize initial direct costs associated with financing activities. The costs will be capitalized upon the execution of the loan and amortized over the initial term of the corresponding loan. Amortization of deferred loan costs will begin in the period during which the loan is originated using the effective interest method over the term of the loan.
Income Taxes	Income Taxes As of December 31, 2014, the Company was subject to federal income taxes as a regular (subchapter C) corporation. The Company intends to elect to be taxed as a REIT commencing with the taxable year ended December 31, 2015. If the Company qualifies as a REIT, it generally will not be subject to U.S. federal income tax on its taxable income or capital gain that it distributes to its stockholders. To maintain its REIT qualification, the Company must meet a number of organizational and operational requirements, including a requirement that it annually distribute to its stockholders at least 90 As of December 31, 2015 and 2014, the Company had no material uncertain income tax positions. Additionally, even if the Company qualifies as a REIT for U.S. federal income tax purposes, it may still be subject to some U.S. federal, state and local taxes on our income and property and to U.S. federal income taxes and excise taxes on its undistributed income.
Organization and Offering Costs	Organization and Offering Costs Organization costs are expensed as incurred. Offering costs include all the costs incurred in connection with the Offering. Organization and offering costs (other than selling commissions and dealer manager fees) of the Company may be paid by the Advisor on behalf of the Company. These costs include all costs and expenses paid by the Company in connection with its formation and the Offering, including the Company’s legal, accounting, printing, mailing and filing fees, charges of the escrow agent, reimbursements to the Dealer Manager and participating broker-dealers for due diligence expenses set forth in detailed and itemized invoices, amounts to reimburse the Advisor for its portion of the salaries of the employees of its affiliates who provide services to the Advisor, and other costs in connection with oversight of such Offering and the marketing process, such as preparing supplemental sales materials, holding educational conferences and attending retail seminars conducted by the Dealer Manager or participating broker-dealers. The Advisor has and will continue to advance organization and offering costs to the extent that the Company does not have the funds to pay such costs. Subsequent to June 12, 2015 (date of breaking escrow), the Company recorded any offering costs incurred ($ 0.8 39,000
Accounting for Derivative Financial Instruments and Hedging Activities	Accounting for Derivative Financial Instruments and Hedging Activities The Company may enter into derivative financial instrument transactions in order to mitigate interest rate risk on a related financial instrument. The Company may designate these derivative financial instruments as hedges and apply hedge accounting. The Company will record all derivative instruments at fair value on the balance sheet. Derivative instruments designated in a hedge relationship to mitigate exposure to variability in expected future cash flows, or other types of forecasted transactions, will be considered cash flow hedges. The Company will formally document all relationships between hedging instruments and hedged items, as well as its risk-management objective and strategy for undertaking each hedge transaction. The Company will periodically review the effectiveness of each hedging transaction, which involves estimating future cash flows. Cash flow hedges will be accounted for by recording the fair value of the derivative instrument on the balance sheet as either an asset or liability, with a corresponding amount recorded in AOCI within stockholder’s equity. Amounts will be reclassified from AOCI to the statement of operations in the period or periods the hedged forecasted transaction affects earnings. Derivative instruments designated in a hedge relationship to mitigate exposure to changes in the fair value of an asset, liability, or firm commitment attributable to a particular risk, such as interest rate risk, will be considered fair value hedges. The effective portion of the derivatives gain or loss will be initially reported as a component of AOCI and subsequently reclassified into earnings when the transaction affects earnings. The ineffective portion of the gain or loss will be reported in earnings immediately.
Concentration of Risk	Concentration of Risk The Company maintains its cash in bank deposit accounts, which, at times, may exceed U.S. federally insured limits. The Company has not experienced any losses in such accounts. The Company believes it is not exposed to any significant credit risk on cash and cash equivalents.
Basic and Diluted Net Earnings per Common Share	Net Earnings per Common Share Net earnings per Common Share will be computed by dividing the net income/(loss) by the weighted average number of shares of common stock outstanding.
New Accounting Pronouncements	New Accounting Pronouncements In May 2014, the Financial Accounting Standards Board Financial Accounting Standards Board (“FASB”) issued an accounting standards update that completes the joint effort by the FASB and International Accounting Standards Board to improve financial reporting by creating common revenue recognition guidance for GAAP and International Financial Reporting Standards. The update applies to all companies that enter into contracts with customers to transfer goods or services and is effective for us for interim and annual reporting periods beginning after December 15, 2016. Early application is not permitted and companies have the choice to apply the update either retrospectively to each reporting period presented or by recognizing the cumulative effect of applying the update at the date of initial application (January 1, 2017) and not adjusting comparative information. In August 2015, the FASB decided to delay the effective date of the new revenue standard by one year. The Company is currently evaluating the requirements and impact of this update on its financial statements. In April 2015, the FASB issued an accounting standards update to simplify the presentation of debt issuance costs. This update requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability, consistent with debt discounts. The SEC staff noted that this update did not address situations where a company has debt issuance costs related to line-of-credit arrangements. As a result, the FASB issued an additional update which states that the SEC staff would not object to an entity deferring and presenting debt issuance costs as an asset and subsequently amortizing the deferred debt issuance costs ratably over the term of the line-of-credit arrangement, regardless of whether there are any outstanding borrowings on the line-of-credit arrangement. This new guidance will be effective for the Company beginning January 1, 2016. We do not expect the adoption of this standard to have a material impact on our financial position, results of operations or cash flows.

Quarterly Financial Data (Table

Quarterly Financial Data (Tables)	12 Months Ended
	Dec. 31, 2015
Quarterly Financial Information Disclosure [Abstract]
Schedule of Quarterly Financial Information	The following table presents selected unaudited quarterly financial data for each quarter during the year ended December 31, 2015 and 2014: 2015 Year ended Quarter ended Quarter ended Quarter ended Quarter ended December 31, December 31, September 30, June 30, March 31, Net loss $ (113,824) $ (15,475) $ (45,678) $ (47,258) $ (5,413) Net loss applicable to Company's common shares $ (113,824) $ (15,475) $ (45,678) $ (47,258) $ (5,413) Net loss per common share, basic and diluted $ (0.45) $ (0.03) $ (0.14) $ (0.78) $ (0.27)

Organization (Details Textual)

Organization (Details Textual)	Sep. 12, 2014USD ($)$ / sharesshares	Dec. 31, 2014USD ($)$ / shares	Dec. 31, 2015USD ($)a$ / sharesshares
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Date of incorporation			Sep. 9, 2014
Shares reserved for issuance, par value per share		$ 0.01	$ 0.01
Gross proceeds from sale of common stock | $		$ 200,000	$ 6,585,456
Issuance of common shares, value | $		$ 200,000	$ 6,585,456
Shares issued, price per share			$ 9.50
The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of Real Estate Properties			100
Number of States in which Entity Operates			21
Entity Number of Employees			383
Lightstone Real Estate Income LLC [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common shares, shares | shares	20,000
Shares issued, price per share	$ 10
Company owned by David Lichtenstein [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Issuance of common shares, value | $	$ 200,000		$ 2,000,000
Shares issued, price per share			$ 9
Office [Member] | The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Area of Real Estate Property | a			257,000
Industrial [Member] | The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Area of Real Estate Property | a			1,500,000
Hotel [Member] | The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of Real Estate Properties			25
Retail [Member] | The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Area of Real Estate Property | a			3,300,000
Multifamily [Member] | The Lightstone Group (Sponsor) [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Number of Units in Real Estate Property			10,285
Stock Offering [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Shares reserved for issuance | shares			30,000,000
Shares reserved for issuance, par value per share			$ 0.01
Shares reserved for issuance, price per share			$ 10
Gross proceeds from sale of common stock | $			$ 6,800,000
Issuance of common shares, shares | shares			723,975
Distribution Reinvestment Plan [Member]
Organization Consolidation And Presentation Of Financial Statements [Line Items]
Shares reserved for issuance | shares			10,000,000
Shares reserved for issuance, price per share			$ 9.50

Summary of Significant Accoun18

Summary of Significant Accounting Policies (Details Textual) - USD ($)	4 Months Ended	9 Months Ended	12 Months Ended
	Dec. 31, 2014	Jun. 12, 2015	Dec. 31, 2015
Accounting Policies [Line Items]
REIT annual distribution, percent of taxable income			90.00%
Organization And Offering Expenses		$ 800,000	$ 2,100,000
General and Administrative Expense	$ 0	$ 39,000	$ 163,157

Stockholders' Equity (Details T

Stockholders' Equity (Details Textual) - shares	Dec. 31, 2015	Feb. 11, 2015	Dec. 31, 2014
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Preferred Stock, shares authorized	50,000,000	50,000,000
Common Stock, shares authorized	200,000,000	200,000,000	20,000

Related Party Transaction and20

Related Party Transaction and Other Arrangements (Organization and Offering Stage) (Details) - USD ($)	1 Months Ended	3 Months Ended	4 Months Ended	9 Months Ended	12 Months Ended	16 Months Ended
	Nov. 25, 2015	Mar. 31, 2015	Dec. 31, 2014	Jun. 12, 2015	Dec. 31, 2015	Dec. 31, 2015
Related Party Transaction [Line Items]
Organizational and offering expenses paid		$ 33,260
Marketing expenses related to offering, recorded in APIC					$ 109,235
Selling commissions						$ 125,296
Dealer manager fee						133,520
Organization and offering expenses recorded in APIC				$ 800,000	2,100,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total			$ 0		4,000,000	4,000,000
Investments in and Advances to Affiliates, Unfunded Contributions					16,000,000	16,000,000
Investment Income, Net, Total			0		49,333
Preferred Contributions, Aggregate Investments	$ 20,000,000
Preferred Stock, Dividend Rate, Percentage	12.00%
Due to Affiliate			$ 0		865,436	865,436
Stock Offering [Member]
Related Party Transaction [Line Items]
Expected selling commissions					$ 21,000,000	$ 21,000,000
Shares reserved for issuance					30,000,000	30,000,000
Expected dealer manager fee					$ 9,000,000	$ 9,000,000
Dealer Manager [Member] | Stock Offering [Member]
Related Party Transaction [Line Items]
Selling commissions, percent of gross proceeds					7.00%
Dealer manager fee, percent of gross proceeds					3.00%
Participating broker-dealer or registered representative [Member]
Related Party Transaction [Line Items]
Dealer manager fee, percent of gross proceeds					10.00%
Participating broker-dealer or registered representative [Member] | Stock Offering [Member]
Related Party Transaction [Line Items]
Selling commissions, percent of gross proceeds					7.50%
Dealer manager fee, percent of gross proceeds					2.50%
Participating broker-dealer or registered representative [Member] | Stock Offering [Member] | Time of Sale of Stock [Member]
Related Party Transaction [Line Items]
Selling commissions, percent of gross proceeds					2.50%
Participating broker-dealer or registered representative [Member] | Stock Offering [Member] | Each Anniversary of Stock Sale Closing [Member]
Related Party Transaction [Line Items]
Selling commissions, percent of gross proceeds					1.00%
Advisor [Member] | Stock Offering [Member]
Related Party Transaction [Line Items]
Organization and offering expenses, percent of gross proceeds					2.00%
Advisor [Member] | Stock Offering [Member] | Maximum [Member]
Related Party Transaction [Line Items]
Organization and offering expenses, percent of gross proceeds					15.00%

Related Party Transaction and21

Related Party Transaction and Other Arrangements (Operational Stage) (Details) $ in Millions	12 Months Ended
	Dec. 31, 2015USD ($)shares
Related Party Transaction [Line Items]
Acquisition fee, percent of debt incurred to originate or acquire investment	1.00%
Aggregate long-term permanent leverage percentage	75.00%
Acquisition expenses, percent of debt incurred to originate or acquire investment	0.60%
Acquisition fees and acquisition expenses, percent of debt incurred to originate or acquire investment	5.00%
Minimum percentage of average invested assets	2.00%
Minimum percentage of net income	25.00%
Stock Offering [Member]
Related Party Transaction [Line Items]
Estimated acquisition fee	$ 10.6
Estimated acquisition expenses	$ 6.3
Shares reserved for issuance | shares	30,000,000

Related Party Transaction and22

Related Party Transaction and Other Arrangements (Liquidation/Listing Stage) (Details)	12 Months Ended
	Dec. 31, 2015
Disposition fee, percentage of contract sales price	1.00%
Disposition fee, percentage of principal debt or associated fees	1.00%
Annual cumulative, pre-tax, non-compounded return on aggregate capital contributed, percent	8.00%
Annual subordinated performance fee after cumulative return, percent	15.00%
Annual subordinated performance fee, maximum percentage of aggregate return payable	10.00%
Subordinated Participation in Net Sales Proceeds, percentage	15.00%
Subordinated Incentive Listing Fee, percentage	15.00%
Subordinated Fee upon Termination or Non- Renewal of the Advisory Agreement, percentage	15.00%

Quarterly Financial Data (Detai

Quarterly Financial Data (Details) - USD ($)	3 Months Ended				4 Months Ended	12 Months Ended
	Dec. 31, 2015	Sep. 30, 2015	Jun. 30, 2015	Mar. 31, 2015	Dec. 31, 2014	Dec. 31, 2015
Net loss	$ (15,475)	$ (45,678)	$ (47,258)	$ (5,413)	$ 0	$ (113,824)
Net loss applicable to Company's common shares	$ (15,475)	$ (45,678)	$ (47,258)	$ (5,413)		$ (113,824)
Net loss per common share, basic and diluted	$ (0.03)	$ (0.14)	$ (0.78)	$ (0.27)	$ 0	$ (0.45)

Distributions (Details Textual)

Distributions (Details Textual) - USD ($)	Mar. 11, 2016	Dec. 31, 2015	Nov. 30, 2015	Oct. 28, 2015	Dec. 31, 2014	Dec. 31, 2015
Distribution Rate Per Day				$ 0.002191781
Number Of Days Used To Calculate Dividend Per Day				365 days
Annualized Distribution Rate				8.00%
Share Price				$ 10
Dividends, Common Stock, Total						$ 187,053
Payments of Ordinary Dividends, Common Stock		$ 187,053	$ 187,053		$ 0	$ 125,951
Shares Issued, Price Per Share		$ 9.50				$ 9.50
Dividends, Common Stock, Cash						$ 164,806
Dividends, Common Stock, Stock						$ 22,247
Dividends Common Stock Cash Percentage						88.00%
Dividends Common Stock Percentage						12.00%
Dividend Paid [Member]
Stock Issued During Period, Shares, Dividend Reinvestment Plan						2,342
Subsequent Event [Member]
Distribution Rate Per Day	$ 0.002191781
Number Of Days Used To Calculate Dividend Per Day	365 days
Annualized Distribution Rate	8.00%
Share Price	$ 10

Subsequent Events (Details Text

Subsequent Events (Details Textual) - USD ($)	Mar. 11, 2016	Mar. 31, 2016	Dec. 31, 2015	Dec. 31, 2014
Subsequent Event [Line Items]
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total			$ 4,000,000	$ 0
Investments in and Advances to Affiliates, Unfunded Contributions			$ 16,000,000
Subsequent Event [Member]
Subsequent Event [Line Items]
Investments in and Advances to Affiliates, at Fair Value, Gross Additions	$ 2,100,000
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures, Total		$ 6,100,000
Investments in and Advances to Affiliates, Unfunded Contributions		$ 13,900,000