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Mortgages Payable (Tables)
 12 Months Ended
Dec. 31, 2018
Debt Disclosure [Abstract]  
Schedule of Long-term Debt Instruments [Table Text Block]
The following table summarizes certain information as of December 31, 2018 and 2017, with respect to the Company’s senior mortgage indebtedness (amounts in thousands):
 
  
Outstanding Principal
 
As of December 31, 2018
Property
 
December 31,
2018
 
December 31, 
2017
 
Interest Rate
 
Interest-onl
y

through date
 
Maturity Date
           
Fixed Rate:
                    
ARIUM at Palmer Ranch $41,348  $26,925   4.41%  May 2020   May 1, 2025 
ARIUM Grandewood 
(1)
  19,713   —     4.35%  July 2020   July 1, 2025 
ARIUM Gulfshore  —     32,626   —     —     —   
ARIUM Hunter’s Creek  72,294   72,294   3.65%  November 2019   November 1, 2024 
ARIUM Metrowest  64,559   —     4.43%  May 2021   May 1, 2025 
ARIUM Pine Lakes  26,950   26,950   3.95%  Interest-only   November 1, 2023 
ARIUM Westside  52,150   52,150   3.68%  August 2021   August 1, 2023 
Ashford Belmar  100,675   —     4.53%  December 2022   December 1, 2025 
Ashton Reserve I  30,878   31,401   4.67%  
(2)
   December 1, 2025 
Citrus Tower  41,438   41,438   4.07%  October 2019   October 1, 2024 
Enders Place at Baldwin Park 
(3)
  23,822   24,287   4.30%  
(2)
   November 1, 2022 
James on South First  26,500   26,500   4.35%  January 2019   January 1, 2024 
Outlook at Greystone  22,105   —     4.30%  June 2021   June 1, 2025 
Park & Kingston 
(4)
  18,432   18,432   3.41%  Interest-only   April 1, 2020 
Plantation Park  26,625   —     4.64%  July 2024   July 1, 2028 
Roswell City Walk  51,000   51,000   3.63%  December 2019   December 1, 2026 
Sovereign  28,227   28,788   3.46%  
(2)
   November 10, 2022 
The Brodie  34,825   34,825   3.71%  
(2)
   December 1, 2023 
The Links at Plum Creek  40,000   —     4.31%  April 2020   October 1, 2025 
The Mills  26,298   26,777   4.21%  
(2)
   January 1, 2025 
The Preserve at Henderson Beach  35,602   36,311   4.65%  
(2)
   January 5, 2023 
Villages of Cypress Creek  26,200   26,200   3.23%  October 2020   October 1, 2022 
(5)
 
Wesley Village  40,545   40,545   4.25%  April 2019   April 1, 2024 
                     
Floating Rate 
(6)
:
                    
ARIUM Glenridge  49,500   48,431   3.68%  September 2021   September 1, 2025 
ARIUM Grandewood 
(1)
  19,672   34,294   3.75%  July 2020   July 1, 2025 
ARIUM Palms  30,320   24,999   3.75%  September 2020   September 1, 2025 
Ashton Reserve II  15,213   15,270   3.85%  August 2022   August 1, 2025 
Marquis at Crown Ridge  28,634   29,217   3.96%  
(2)
   June 1, 2024 
(7)
 
Marquis at Stone Oak  42,725   43,125   3.96%  
(2)
   June 1, 2024 
(7)
 
Marquis at The Cascades I  32,899   33,207   3.96%  
(2)
   June 1, 2024 
(7)
 
Marquis at The Cascades II  22,960   23,175   3.96%  
(2)
   June 1, 2024 
(7)
 
Marquis at TPC  16,826   17,184   3.96%  
(2)
   June 1, 2024 
(7)
 
Preston View  41,657   41,066   3.85%  August 2022   August 1, 2025 
Sorrel  38,684   38,684   4.64%  November 2019   May 1, 2023 
Veranda at Centerfield  26,100   —     3.60%  July 2021   July 26, 2023 
(5)
 
Total  1,215,376   946,101             
Fair value adjustments  2,204   2,638             
Deferred financing costs, net  (11,444)  (9,245)            
Total $1,206,136  $939,494             
 
(1)
ARIUM Grandewood has a fixed rate loan and a floating rate loan.
(2)
The loan requires monthly payments of principal and interest.
(3)
The principal balance includes a $16.2 million loan at a fixed rate of 3.97% and a $7.6 million supplemental loan at a fixed rate of 5.01%.
(4)
The principal balance includes a $15.3 million loan at a fixed rate of 3.21% and a $3.2 million supplemental loan at a fixed rate of 4.34%.
(5)
The loan has two one-year extension options subject to certain conditions.
(6)
All the Company’s floating rate mortgages bear interest at one-month LIBOR + margin. In December 2018, one-month LIBOR in effect was 2.35%. LIBOR rate is subject to a rate cap. Please refer to Note 11 for further information.
(7)
The loan can be extended, subject to certain conditions, in connection with an election to convert to a fixed interest rate loan.
Contractual Obligation, Fiscal Year Maturity Schedule [Table Text Block]
As of December 31, 2018, contractual principal payments for the five subsequent years and thereafter are as follows (amounts in thousands):
 
Year
 
Total
 
2019 $7,365 
2020  30,753 
2021  15,905 
2022  91,472 
2023  221,215 
Thereafter  848,666 
  $1,215,376 
Add: Unamortized fair value debt adjustment  2,204 
Subtract: Deferred financing costs  (11,444)
Total $1,206,136