CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Dec. 31, 2012	Dec. 31, 2011	Dec. 31, 2010
Cash flows from operating activities:
Net income (loss)	$ 7,365,308	$ (4,315,331)	$ (2,306,870)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Depreciation and amortization	2,836,042	0	0
Amortization of fair value adjustment	(245,231)	0	0
Equity (income) loss of unconsolidated joint ventures	(13,435)	73,665	1,147,224
Gain on sale of joint venture interests	(2,014,533)	0	0
Gain on revaluation of equity on business combination	(12,170,005)	0	0
Distributions from unconsolidated real estate joint ventures	607,477	904,949	392,013
Share-based compensation attributable to director's stock compensation plan	81,250	68,125	56,875
Changes in operating assets and liabilities:
Due to affiliates	367,353	2,144,589	(542,529)
Accounts receivable, prepaids and other assets	249,357	(1,758)	(82,679)
Accounts payable and other accrued liabilities	887,933	74,068	465,861
Net cash used in operating activities	(2,048,484)	(1,051,693)	(870,105)
Cash flows from investing activities:
Restricted cash	(96,663)	0	0
Cash acquired in excess of acquisition of consolidated real estate investments	(12,417,078)	0	0
Additions to consolidated real estate investments	(1,289,149)	0	0
Proceeds from sale of joint venture interests	2,957,622	0	0
Investment in unconsolidated real estate joint ventures	(6,457)	(63,901)	(5,455,647)
Net cash used in investing activities	(10,851,725)	(63,901)	(5,455,647)
Cash flows from financing activities:
Distributions on common stock	(695,466)	(366,163)	(129,374)
Distributions to noncontrolling interests	(398,116)	0	0
Proceeds from notes payable	0	150,000	5,086,713
Repayment on notes payable	(3,834,578)	(1,150,000)	(3,006,655)
Repayment of mortgages payable	(239,434)	0	0
Borrowings (repayments) from line of credit	11,935,830	0	0
Deferred financing fees	(123,618)	0	0
Issuance of common stock, net	8,895,956	2,840,424	4,313,442
Payments to redeem common stock	(271,772)	(63,334)	0
Net cash provided by financing activities	15,268,802	1,410,927	6,264,126
Net increase (decrease) in cash and cash equivalents	2,368,593	295,333	(61,626)
Cash and cash equivalents at beginning of period	420,570	125,237	186,863
Cash and cash equivalents at end of period	2,789,163	420,570	125,237
Supplemental Disclosure of Cash Flow Information - Interest Paid	209,585	358,368	262,864
Supplemental Disclosure of Noncash Transactions:
Distributions payable	129,656	63,178	40,286
Redemptions payable	23,125	192,022	0
Accrued Offering Costs	559,818	276,446	260,792
Distributions to common stockholders through common stock issuances pursuant to the distribution reinvestment plan including $49,556 and $24,728 declared but not yet reinvested in 2012 and 2011, respectively	454,712	212,767	63,334
Receivable for common stock issuances pursuant to the distribution reinvestment plan	(49,556)	(24,728)	0
Net assets acquired (see Note 3 for detailed assets and liabilities acquired)	$ 26,283,000	$ 0	$ 0