2.4.0.8101 - Disclosure - Organizationtruefalsefalse1false falsefalsefrom-2013-01-01-to-2013-06-30.1614.0.0.0.0.0.0.0http://www.sec.gov/CIK0001272430duration2013-01-01T00:00:002013-06-30T00:00:001true 1us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsAbstractus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalse1falsefalsefalse00falsefalsefalsexbrli:stringItemTypestringfalse0Organization [Abstract]2false 2us-gaap_OrganizationConsolidationAndPresentationOfFinancialStatementsDisclosureTextBlockus-gaap_truenadurationfalsefalsefalsefalsefalsefalsefalsefalseverboseLabel1falsefalsefalse00<div> <div> 1. Organization   Paladin Realty Income Properties, Inc., a Maryland corporation ("Paladin REIT"), was formed on October 31, 2003, to invest in a diversified portfolio of high quality investments, including real property investments and real estate related investments, focusing primarily on investments that produce current income. As of June 30, 2013, Paladin REIT owned interests in 12 joint ventures that own 13 income-producing properties.   <table style="FONT: 8pt Times New Roman, Times, Serif; WIDTH: 90%; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" align="center"> <tr style="VERTICAL-ALIGN: bottom"> <td style="WIDTH: 27%">  </td> <td style="WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: center; WIDTH: 24%"> Location</td> <td style="WIDTH: 2%">  </td> <td style="BORDER-BOTTOM: black 1pt solid; FONT-SIZE: 8pt; TEXT-ALIGN: center; WIDTH: 26%"> Year Built</td> <td style="WIDTH: 3%">  </td> <td style="BORDER-BOTTOM: black 1pt solid; WIDTH: 16%"> Number of Units/Rentable Square Feet </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top"> Multifamily Communities</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top"> Champion Farms Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Louisville, Kentucky</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">2000</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">264 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Fieldstone Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Woodlawn, Ohio</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">2001</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; TEXT-ALIGN: left; VERTICAL-ALIGN: top"> 266 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Pinehurst Apartment Homes</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Kansas City, Missouri</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top"> 1986 and 1988; renovated in 2006 </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">146 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Pheasant Run Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Lee's Summit, Missouri</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top"> 1985; renovated in 2003 and 2004 </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">160 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">The Retreat Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Shawnee, Kansas</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top"> 1984; renovated in 2004 and 2005 </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">342 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Hilltop Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Kansas City, Missouri</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">1986</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">124 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Conifer Crossing</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Norcross, Georgia</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">1981</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">420 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Beechwood Gardens Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Philadelphia, Pennsylvania</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top"> 1967; renovated in 2003 and 2004 </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">160 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Stone Ridge Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Columbia, South Carolina</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">1975</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">191 Units1</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Coursey Place Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Baton Rouge, Louisiana</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">2003</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">352 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Pines of York Apartments</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">Yorktown, Virginia</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">1976</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">248 Units</td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top"> Office</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="VERTICAL-ALIGN: top">  </td> </tr> <tr style="BACKGROUND-COLOR: rgb(204,255,204)"> <td>  </td> <td colspan="2">  </td> <td colspan="2">  </td> <td colspan="2">  </td> </tr> <tr style="BACKGROUND-COLOR: white"> <td style="VERTICAL-ALIGN: top"> Two and Five Governor Park (two properties) </td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">San Diego, California</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top">1985 and 1989</td> <td style="VERTICAL-ALIGN: bottom">  </td> <td style="FONT-SIZE: 8pt; VERTICAL-ALIGN: top" nowrap="nowrap"> 22,470 Sq. Ft. and 53,048 Sq. Ft.</td> </tr> </table>     <div style="BORDER-TOP: black 1pt solid; FONT-SIZE: 1pt; MARGIN-BOTTOM: 3pt; MARGIN-TOP: 3pt; text-align: left; WIDTH: 25%">  </div>  <table style="MARGIN-BOTTOM: 0pt; FONT: 10pt Times New Roman, Times, Serif; MARGIN-TOP: 0pt; font-size-adjust: none; font-stretch: normal" cellspacing="0" cellpadding="0" width="100%"> <tr style="VERTICAL-ALIGN: top"> <td style="WIDTH: 0.25in"> </td> <td style="FONT-SIZE: 10pt; WIDTH: 0.25in">1</td> <td style="FONT-SIZE: 10pt">On March 6, 2013, a fire significantly damaged 12 units at Stone Ridge Apartments ("Stone Ridge"), or approximately 6% of the units, and accordingly, Paladin REIT wrote-off approximately $226,000 of building and improvements and recognized a corresponding insurance receivable of $226,000, which is included in other assets in the accompanying condensed consolidated balance sheet. Paladin REIT's loss related to the fire is expected to be limited to the $10,000 deductible under its property insurance policy. In addition, the damaged units contained asbestos-containing materials ("ACMs") and such ACMs must be removed pursuant to special guidelines and procedures. The property's insurance policy contains a limit of $25,000 for the cost of removing ACMs and the cost for the removal of such ACMs was approximately $157,000. The damage to the building and improvements and the estimated cost of removal of the ACMs are reflected in property damage in the accompanying condensed consolidated statements of operations. In addition, on July 23, 2013, the City of Columbia notified the joint venture that owns the property that three of the fire damaged units are now located in a flood plain and cannot be rebuilt for occupants to inhabit. Paladin REIT is currently analyzing the flood plain issue and potential alternative uses for the three units.</td> </tr> </table>   Paladin REIT's investment policy includes a variety of real estate product types, including apartments, office buildings, industrial buildings, shopping centers and hotels. Paladin REIT may also make real estate related investments, which include loans on real property such as first mortgage loans and mezzanine loans. Paladin REIT elected to be taxed as a REIT for U.S. federal income tax purposes beginning with the taxable year ended December 31, 2006. Subject to certain restrictions and limitations, the business of Paladin REIT is managed by Paladin Realty Advisors, LLC ("Paladin Advisors"), an affiliate of Paladin REIT, pursuant to an amended and restated advisory agreement, dated July 28, 2012 (the "Advisory Agreement"). Paladin Advisors supervises and manages the day-to-day operations of Paladin REIT and selects the real property investments and real estate related investments it makes, subject to oversight by the board of directors of Paladin REIT. Paladin Advisors also provides marketing, sales, and client services on behalf of Paladin REIT.   On February 23, 2005, Paladin REIT's initial public offering (the "Initial Offering") was declared effective and Paladin REIT commenced its offering efforts. The Initial Offering terminated on July 28, 2008, in connection with the commencement of Paladin REIT's follow-on offering (the "First Follow-On Offering"). On January 24, 2012, Paladin REIT terminated the First Follow-On Offering and commenced the second follow-on offering (the "Second Follow-On Offering," and collectively with the Initial Offering and First Follow-On Offering, the "Offerings"). On July 16, 2012, Paladin REIT terminated the Second Follow-On Offering. As of June 30, 2013, Paladin REIT had received proceeds of $82,622,988 for 8,339,047 shares in the Offerings.   On July 18, 2013, Paladin REIT and Paladin Realty Income Properties, L.P. ("Paladin OP"), whose sole general partner is Paladin REIT, entered into an Agreement and Plan of Merger (the "Merger Agreement") with Resource Real Estate Opportunity OP, LP ("Resource OP"), the operating partnership of Resource Real Estate Opportunity REIT, Inc., a Maryland corporation ("Resource"), and RRE Charlemagne Holdings, LLC, a Delaware limited liability company and a wholly owned subsidiary of Resource OP ("Merger Sub"). The Merger Agreement provides for the merger of Paladin OP with and into Merger Sub (the "Merger"), with Merger Sub surviving as a wholly owned subsidiary of Resource OP. Resource will pay $52.7 million in cash, excluding certain transaction costs and subject to certain adjustments, including (1) an increase in the consideration payable of up to $3.1 million in the event that Beechwood Gardens Apartments is not sold to a third party pursuant to the existing purchase and sale agreement prior to the closing of the Merger and (2) an adjustment for distributions to Paladin OP differing from specified amounts made prior to the closing of the Merger from the joint venture that owns two office properties (the "Merger Consideration"). The Merger Consideration, together with the existing cash of Paladin OP at the closing date, net of fees and expenses (the "Distribution") will be distributed to the Company and Paladin Advisors, as owners of the interests in Paladin OP. The Company, which owns 99.8% of the interests in Paladin OP, will distribute its portion of the Distribution, together with the existing cash of the Company at the closing date, to its shareholders and liquidate and dissolve. The remaining 0.2% of the Distribution will be paid to Paladin Advisors, the Company's advisor. No fees, other than its proportional share of the Distribution, will be paid to Paladin Advisors in connection with the Merger. The Merger is subject to customary closing conditions, including, among other things, the approval of Paladin REIT's shareholders.   Paladin REIT owns its assets and conducts its operations through Paladin Realty Income Properties, L.P., its operating partnership ("Paladin OP"). As of June 30, 2013 and December 31, 2012, Paladin Advisors held a 0.2% limited partnership interest and Paladin REIT held a 99.8% general partnership interest in Paladin OP.   </div> </div>falsefalsefalsenonnum:textBlockItemTypenaThe entire disclosure for organization, consolidation and basis of presentation of financial statements disclosure.Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 8 -URI http://asc.fasb.org/extlink&oid=28200181&loc=SL6228881-111685 Reference 2: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 720 -SubTopic 15 -URI http://asc.fasb.org/subtopic&trid=2122524 Reference 3: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6359566&loc=d3e326-107755 Reference 4: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 235 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6367646&loc=d3e18780-107790 Reference 5: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -Section 45 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=7668296&loc=d3e288-107754 Reference 6: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2197480 Reference 7: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 810 -SubTopic 10 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=18733093&loc=d3e5614-111684 Reference 8: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 915 -SubTopic 235 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=6472506&loc=d3e38932-110933 Reference 9: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 852 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2209116 Reference 10: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 272 -SubTopic 10 -Section 50 -Paragraph 3 -URI http://asc.fasb.org/extlink&oid=6373374&loc=d3e70478-108055 Reference 11: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 275 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2134480 Reference 12: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 205 -SubTopic 10 -URI http://asc.fasb.org/subtopic&trid=2122150 false0OrganizationfalseOrganizationUnKnownUnKnownUnKnownUnKnowntruefalsefalseSheethttp://www.paladinreality.com/role/Organization12