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Investments in Unconsolidated Real Estate Joint Ventures (Details 1)
Mar. 31, 2015
Villas at Oak Crest [Member]  
Current Pay Annualized Preferred Return Percentage 10.50%cik0001442626_CurrentPayAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_VillasAtOakCrestMember
Accrued Annualized Preferred Return Percentage 4.50%cik0001442626_AccruedAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_VillasAtOakCrestMember
Annualized Preferred Return, Total Percentage 15.00%cik0001442626_AnnualizedPreferredReturntotalPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_VillasAtOakCrestMember
Alexan CityCentre [Member]  
Current Pay Annualized Preferred Return Percentage 15.00%cik0001442626_CurrentPayAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanCitycentreMember
Accrued Annualized Preferred Return Percentage 0.00%cik0001442626_AccruedAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanCitycentreMember
Annualized Preferred Return, Total Percentage 15.00%cik0001442626_AnnualizedPreferredReturntotalPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanCitycentreMember
UCF Orlando [Member]  
Current Pay Annualized Preferred Return Percentage 15.00%cik0001442626_CurrentPayAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_UcfOrlandoMember
Accrued Annualized Preferred Return Percentage 0.00%cik0001442626_AccruedAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_UcfOrlandoMember
Annualized Preferred Return, Total Percentage 15.00%cik0001442626_AnnualizedPreferredReturntotalPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_UcfOrlandoMember
Alexan Blaire House [Member]  
Current Pay Annualized Preferred Return Percentage 15.00%cik0001442626_CurrentPayAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanBlaireHouseMember
Accrued Annualized Preferred Return Percentage 0.00%cik0001442626_AccruedAnnualizedPreferredReturnPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanBlaireHouseMember
Annualized Preferred Return, Total Percentage 15.00%cik0001442626_AnnualizedPreferredReturntotalPercentage
/ us-gaap_RealEstateAndAccumulatedDepreciationDescriptionOfPropertyAxis
= cik0001442626_AlexanBlaireHouseMember