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CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
In Thousands, except Share data, unless otherwise specified
 3 Months Ended
Mar. 31, 2015
Mar. 31, 2014
Revenues    
Net rental income $ 8,644us-gaap_OperatingLeasesIncomeStatementLeaseRevenue $ 3,130us-gaap_OperatingLeasesIncomeStatementLeaseRevenue
Other property revenues 392us-gaap_OtherRealEstateRevenue 96us-gaap_OtherRealEstateRevenue
Total revenues 9,036us-gaap_SalesRevenueNet 3,226us-gaap_SalesRevenueNet
Expenses    
Property operating 3,864us-gaap_OperatingCostsAndExpenses 1,581us-gaap_OperatingCostsAndExpenses
General and administrative 928us-gaap_GeneralAndAdministrativeExpense 530us-gaap_GeneralAndAdministrativeExpense
Management fees 1,450us-gaap_AssetManagementCosts 116us-gaap_AssetManagementCosts
Acquisition costs 449us-gaap_AcquisitionCosts 14us-gaap_AcquisitionCosts
Depreciation and amortization 2,765us-gaap_DepreciationAndAmortization 1,108us-gaap_DepreciationAndAmortization
Total expenses 9,456us-gaap_OperatingExpenses 3,349us-gaap_OperatingExpenses
Operating loss (420)us-gaap_OperatingIncomeLoss (123)us-gaap_OperatingIncomeLoss
Other income (expense)    
Other income 22us-gaap_OtherIncome 0us-gaap_OtherIncome
Equity in income (loss) of unconsolidated real estate joint ventures 730us-gaap_IncomeLossFromEquityMethodInvestments (6)us-gaap_IncomeLossFromEquityMethodInvestments
Gain on sale of unconsolidated real estate joint venture interest 11,307us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal 0us-gaap_EquityMethodInvestmentRealizedGainLossOnDisposal
Interest expense, net (2,292)us-gaap_InterestIncomeExpenseNonoperatingNet (1,123)us-gaap_InterestIncomeExpenseNonoperatingNet
Total other income (expense) 9,767us-gaap_NonoperatingIncomeExpense (1,129)us-gaap_NonoperatingIncomeExpense
Net income (loss) from continuing operations 9,347us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest (1,252)us-gaap_IncomeLossFromContinuingOperationsIncludingPortionAttributableToNoncontrollingInterest
Discontinued operations    
Loss on operations of rental property 0cik0001442626_IncomeLossOnOperationsOfRentalProperty (62)cik0001442626_IncomeLossOnOperationsOfRentalProperty
Loss on early extinguishment of debt 0us-gaap_GainsLossesOnExtinguishmentOfDebt (880)us-gaap_GainsLossesOnExtinguishmentOfDebt
Gain on sale of joint venture interest 0cik0001442626_GainOnSaleOfJointVentureInterests 1,006cik0001442626_GainOnSaleOfJointVentureInterests
Income from discontinued operations 0us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax 64us-gaap_IncomeLossFromDiscontinuedOperationsNetOfTax
Net income (loss) 9,347us-gaap_ProfitLoss (1,188)us-gaap_ProfitLoss
Net income (loss) attributable to noncontrolling interests    
Operating partnership units 75us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable 0us-gaap_NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
Partially-owned properties 5,959cik0001442626_NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties (141)cik0001442626_NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties
Net income (loss) attributable to noncontrolling interests 6,034us-gaap_NetIncomeLossAttributableToNoncontrollingInterest (141)us-gaap_NetIncomeLossAttributableToNoncontrollingInterest
Net income (loss) attributable to common stockholders $ 3,313us-gaap_NetIncomeLoss $ (1,047)us-gaap_NetIncomeLoss
Income (loss) per common share - Basic    
Continuing operations (in dollars per share) $ 0.26us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [1] $ (1.05)us-gaap_IncomeLossFromContinuingOperationsPerBasicShare [1]
Discontinued operations (in dollars per share) $ 0.00us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare [1] $ 0.06us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerBasicShare [1]
Income (loss) per common share - Basic Total $ 0.26us-gaap_EarningsPerShareBasic [1] $ (0.99)us-gaap_EarningsPerShareBasic [1]
Income (loss) per common share - Diluted    
Continuing operations (in dollars per share) $ 0.26us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [1] $ (1.05)us-gaap_IncomeLossFromContinuingOperationsPerDilutedShare [1]
Discontinued operations (in dollars per share) $ 0.00us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare [1] $ 0.06us-gaap_DiscontinuedOperationIncomeLossFromDiscontinuedOperationNetOfTaxPerDilutedShare [1]
Income (loss) per common share - Diluted Total $ 0.26us-gaap_EarningsPerShareDiluted [1] $ (0.99)us-gaap_EarningsPerShareDiluted [1]
Weighted average basic common shares outstanding (in shares) 12,547,895us-gaap_WeightedAverageNumberOfSharesOutstandingBasic [1],[2] 1,060,889us-gaap_WeightedAverageNumberOfSharesOutstandingBasic [1],[2]
Weighted average diluted common shares outstanding (in shares) 12,547,895us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding [1] 1,060,889us-gaap_WeightedAverageNumberOfDilutedSharesOutstanding [1]
[1] Share and per share amounts have been restated to reflect the effects of two reverse stock splits of the Company’s Class B common stock, which occurred during the first quarter of 2014. See Note 1, "Organization and Nature of Business" and Note 11, "Stockholders' Equity" for further discussion.
[2] For 2015, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding. For 2014, amounts relate to Class B-1, B-2 and B-3 common shares outstanding.