CONSOLIDATED BALANCE SHEETS (USD $)	Sep. 30, 2012	Dec. 31, 2011
ASSETS
Land	$ 8,420,000	$ 0
Building and improvements	45,434,747	0
Furniture, fixtures and equipment	1,447,590	0
Total Gross Real Estate Investments	55,302,337	0
Accumulated depreciation	(470,972)	0
Total Net Real Estate Investments	54,831,365	0
Investments in unconsolidated real estate joint ventures (Note 5)	2,470,256	5,387,147
In-place leases, net	607,421	0
Cash and cash equivalents	3,846,980	420,570
Restricted cash	842,371	0
Due from affiliates	622,453	0
Accounts receivable, prepaids and other assets	241,388	109,165
Total Assets	63,462,234	5,916,882
LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)
Mortgage payable (Note 6)	41,239,778	0
Notes payable to affiliates (Note 7)	0	3,834,578
Accounts payable	87,104	119,899
Other accrued liabilities	986,818	471,927
Due to affiliates	1,022,406	1,791,440
Distributions payable	114,367	63,178
Total Liabilities	43,450,473	6,281,022
Commitments and contingencies (Note 11)
Redeemable common stock	230,277	20,745
Stockholders' Equity (Deficit)
Preferred stock, value	0	0
Common stock, $0.01 par value, 749,999,000 shares authorized; 2,028,034 and 1,113,968 shares issued and outstanding as of September 30, 2012 and December 31, 2011, respectively	20,280	11,140
Additional paid-in-capital, net of costs	14,831,676	7,475,175
Cumulative distributions and net losses	(4,951,656)	(7,871,210)
Total Stockholders' Equity (Deficit)	9,900,310	(384,885)
Noncontrolling interest	9,881,174	0
Total Equity (Deficit)	19,781,484	(384,885)
TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY (DEFICIT)	63,462,234	5,916,882
Nonvoting Convertible Stock [Member]
Stockholders' Equity (Deficit)
Preferred stock, value	$ 10	$ 10