Agreements and Transactions with Related Parties (Details) (USD $) In Thousands, unless otherwise specified	3 Months Ended				6 Months Ended				12 Months Ended
	Jun. 30, 2012		Jun. 30, 2011		Jun. 30, 2012		Jun. 30, 2011		Dec. 31, 2011
Operating Expenses [Abstract]
Asset Management Costs	$ 4,765	[1]	$ 3,081	[1]	$ 9,318	[1]	$ 5,930	[1]
Distributions of available cash	3,865	[2]	1,973	[2]	6,558	[2]	3,788	[2]
Personnel Reimbursements	1,203	[3]	428	[3]	2,141	[3]	816	[3]
Office Rent Reimbursements	190	[3]	67	[3]	348	[3]	142	[3]
Operating Expenses	10,023		5,549		18,365		10,676
Current Acquisition Fees Paid	1,377	[4]	2,647	[4]	5,581	[4]	10,576	[4]
Deferred Acquisition Fees Paid	917	[4],[5]	1,518	[4],[5]	4,350	[4],[5]	7,868	[4],[5]
Transaction Fees Incurred	2,294		4,165		9,931		18,444
Deferred Acquisition Fees Unpaid					17,484				22,748
Subordinated Disposition Fees					202	[6]			202	[6]
Unpaid Transaction Fees					$ 17,686				$ 22,950

[1] Asset management fees are included in Property expenses in the consolidated financial statements. For both 2012 and 2011, the advisor elected to receive its asset management fees in shares of our common stock. At June 30, 2012, the advisor owned 2,962,334 shares (1.2%) of our common stock.

[2] We also pay the advisor up to 10% of the Available Cash, as defined in the limited partnership agreement of the operating partnership, which is defined as cash generated from operations, excluding capital proceeds, as reduced by operating expenses and debt service, excluding prepayments and lump-sum, or (“balloon”) payments.

[3] Personnel and office rent reimbursements are included in General and administrative expenses in the consolidated financial statements. Based on gross revenues through June 30, 2012, our current share of future annual minimum lease payments under our agreement would be $0.7 million annually through 2016; however, we anticipate that our share of future annual minimum lease payments will increase as we continue to invest the proceeds of our offerings.

[4] Current and deferred acquisition fees for real estate asset acquisitions were capitalized and included in the cost basis of the assets acquired and for business combinations were expensed and included in General and administrative expenses.

[5] We made payments of deferred acquisition fees to the advisor totaling $9.7 million and $8.7 million during the six months ended June 30, 2012 and 2011, respectively.

[6] These fees, which are subordinated to the performance criterion and certain other provisions included in the advisory agreement, are deferred and are payable to the advisor only in connection with a liquidity event for our stockholders.