CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $) In Thousands, unless otherwise specified	6 Months Ended
	Jun. 30, 2013	Jun. 30, 2012
CASH FLOWS FROM OPERATING ACTIVITIES:
Net income	$ 1,406	$ 1,309
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	687	184
Amortization of deferred financing costs	45	20
Gain on sale of marketable securities	(10)
Bargain purchase gain	(1,225)
Gain on disposition of investment in unconsolidated affiliated entity		(741)
Income from investments in unconsolidated affiliated entities	(71)	(86)
Changes in assets and liabilities:
Decrease in restricted escrows	157	152
Increase in prepaid expenses and other assets	(244)	(402)
Increase in accounts payable and accrued expenses	622	150
Decrease in due to sponsor	(26)	(1)
Net cash provided by operating activities	1,341	585
CASH FLOWS FORM INVESTING ACTIVITIES:
Purchase of investment property, net	(13,963)	(23)
Proceeds from sale of marketable securities	190
Proceeds from disposition of investment in unconsolidated affiliated entity		560
Collections on note receivable from affiliate	2,340	60
Distributions from unconsolidated affiliated entity	2,027	110
Release/(funding) of restricted escrows	1,934	(1,875)
Net cash used in investing activities	(7,472)	(1,168)
CASH FLOWS FROM FINANCING ACTIVITIES:
Proceeds from mortgage financing		6,000
Proceeds from note payable to affiliate, net	4,000
Payment on mortgages payable	(105)	(23)
Payment of loan fees and expenses		(150)
Payment on margin loan	(499)	(311)
Proceeds from issuance of common stock	7,145	5,154
Payment of commissions and offering costs	(1,793)	(1,050)
Contribution of noncontrolling interests	1,008
Redemption and cancellation of common stock	(267)	(253)
Notes receivable from affiliates	(325)
Distributions to noncontrolling interests		(291)
Distributions to common stockholders	(914)	(781)
Net cash provided by financing activities	8,250	8,295
Net change in cash and cash equivalents	2,119	7,712
Cash and cash equivalents, beginning of year	8,152	5,114
Cash and cash equivalents, end of period	$ 10,271	$ 12,826