Business Combinations and Sale of Joint Venture Equity Interests (Tables)

12 Months Ended

Dec. 31, 2012

Business Combinations and Sale Of Joint Venture Equity Interests [Abstract]

Schedule of Recognized Identified Assets Acquired and Liabilities Assumed [Table Text Block]

The following table presents certain additional information regarding our business combinations completed during the year ended December 31, 2012. The amounts allocated to the major assets acquired and liabilities assumed are based on independent third party appraisals, and are as follows:

	Springhouse at Newport News		The Reserve at Creekside Village		Enders Place at Baldwin Park		23Hundred @ Berry Hill		MDA Apartments		Total
Land	$	6,500,000	$	1,920,000	$	4,750,000	$	5,000,000	$	9,500,000	$	27,670,000
Building and improvements		27,481,311		17,919,495		19,156,045		1,012,549		50,814,244		116,383,644
Furniture, fixtures and equipment		1,010,818		416,796		523,710		-		455,359		2,406,683
In-place lease value		818,879		452,467		670,245		-		930,397		2,871,988
Deferred financing costs		-		-		363,772		212,325		115,217		691,314
Cash and cash equivalents		40,803		334,946		24,261		-		251,011		651,021
Restricted cash		272,999		373,004		646,610		5,000		896,111		2,193,724
Accounts receivables, prepaids and other		63,634		36,868		390,438		2,500		210,980		704,420
Total assets		36,188,444		21,453,576		26,525,081		6,232,374		63,173,319		153,572,794
Mortgage/construction payable		26,482,194		15,002,061		17,500,000		100		37,600,000		96,584,355
Accounts payable		1,667		44,594		-		-		-		46,261
Other accrued liabilities		249,595		228,211		516,207		-		551,405		1,545,418
Due to affiliates		495		1,087		-		-		-		1,582
Noncontrolling interest		5,816,058		4,628,334		4,745,697		2,750,856		11,171,233		29,112,178
Net Assets	$	3,638,435	$	1,549,289	$	3,763,177	$	3,481,418	$	13,850,681	$	26,283,000

Business Acquisition, Pro Forma Information [Table Text Block]

The information presented below is not necessarily indicative of what the actual results of operations would have been had we completed these transactions on January 1, 2011, nor does it purport to represent our future operations (in thousands, except per share data):

	December 31, 2012			December 31, 2011
Revenues	$	18,617		$	13,243
Depreciation and amortization		(7,159	)		(7,128	)
Net loss		2,229			(8,119	)
Net income (loss) attributable to noncontrolling interest		3,585			(3,304	)
Net loss attributable to common shareholders		(1,356	)		(4,815	)
Net loss per common share		(0.80	)		(5.95	)