XML 60 R41.htm IDEA: XBRL DOCUMENT v2.4.0.6
Related Party Arrangements (Details) (USD $)
3 Months Ended 12 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended 50 Months Ended 3 Months Ended 50 Months Ended 3 Months Ended
Mar. 31, 2013
Dec. 31, 2012
Mar. 31, 2013
CRE debt investments
Mar. 31, 2013
PE Fund JV
Mar. 31, 2013
Organization costs
Mar. 31, 2012
Organization costs
Dec. 31, 2012
Organization costs
Mar. 31, 2013
Offering costs
Mar. 31, 2012
Offering costs
Dec. 31, 2012
Offering costs
Mar. 31, 2013
Operating costs
Mar. 31, 2012
Operating costs
Dec. 31, 2012
Operating costs
Mar. 31, 2013
Asset management fees
Mar. 31, 2012
Asset management fees
Dec. 31, 2012
Asset management fees
Mar. 31, 2013
Acquisition fees
Mar. 31, 2012
Acquisition fees
Mar. 31, 2013
Selling commissions / Dealer manager fees
Mar. 31, 2012
Selling commissions / Dealer manager fees
Dec. 31, 2012
Disposition fees
Mar. 31, 2013
Maximum
Mar. 31, 2013
Advisor
quarter
Mar. 31, 2013
Advisor
Operating costs
Mar. 31, 2013
Advisor
Acquisition fees
Mar. 31, 2013
Advisor
Disposition fees
Mar. 31, 2013
Advisor
Maximum
Mar. 31, 2013
Dealer Manager
Mar. 31, 2013
Dealer Manager
Maximum
Mar. 31, 2013
Sponsor
Mar. 31, 2012
Sponsor
Mar. 31, 2013
Sponsor
Mar. 31, 2013
Sponsor
PE Fund JV
Dec. 31, 2012
Sponsor
PE Fund JV
Mar. 31, 2013
Sponsor
Maximum
Organization and Offering Costs                                                                      
Percentage of gross offering proceeds from the Primary Offering reimbursable as organization and offering costs                                           15.00%         15.00%                
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee                                           $ 15,000,000         $ 15,000,000                
Expected reimbursable organization and offering costs, excluding selling commissions and dealer manager fee, as a percentage of total proceeds available to be raised from the primary offering 1.50%                                                   1.50%                
Gross proceeds from sale of shares 155,581,000 385,098,000                                                         1,100,000 4,600,000      
Reimbursement of personnel costs related to executive officers and other personnel involved in activities for which the Advisor receives an acquisition fee, asset management fee or disposition fee                                             0                        
Operating Costs                                                                      
Number of preceding fiscal quarters at the end of which the Company reimburses operating costs (including the asset management fee)                                             4                        
Period for true-up calculation of expense reimbursements                                             12 months                        
Operating costs recorded in accounts payable and accrued expenses                                               7,000,000                      
Allocable operating costs                                               5,500,000                      
Percentage of average invested assets reimbursable as operating costs                                                     2.00%                
Percentage of net income, without reduction for any additions to reserves for depreciation, loan losses or other similar non-cash reserves and excluding any gain from the sale of the Company's assets, considered for reimbursement of operating costs                                                     25.00%                
Asset Management Fee                                                                      
Monthly asset management fees as percentage of principal amount of debt originated                                             1.25%                        
Asset Acquisition Fee                                                                      
Asset acquisition fee as percentage of principal amount funded to originate CRE debt or other real estate investments                                             1.00%                        
Asset Disposition Fee                                                                      
Asset disposition fee as percentage of contract sales price of CRE debt, CRE security or select CRE equity investment sold                                             1.00%                        
Asset disposition fee as a percentage of the principal amount of the CRE debt investment prior to the specified transaction                                             1.00%                        
Selling Commissions and Dealer Manager Fees                                                                      
Selling commissions as a percentage of gross offering proceeds from primary offering                                                         7.00%            
Dealer manager fee as a percentage of gross offering proceeds from primary offering                                                       3.00%              
Selling commissions or dealer manager fees are paid for sales under DRP 0                                                     0              
Value of shares of common stock committed to be purchased                                                                     10,000,000
Shares purchased during the period                                                             100,000 500,000      
Purchase price of common stock (in dollars per share)                                                           $ 9.00          
Amount of transaction with related parties         53,000 152,000   1,003,000 987,000   1,485,000 275,000   2,142,000 307,000   2,342,000 256,000 16,935,000 7,399,000                              
Due to related party 2,793,000 15,165,000     20,000   113,000 377,000   2,151,000 1,485,000   523,000 840,000   559,000 71,000       24,000                         11,800,000  
Asset management fees recorded in accounts payable and accrued expenses     1,000,000 1,300,000                                                              
Fees deferred by advisor                                                 500,000 300,000                  
PE Fund JV                                                                      
Ownership percentage       29.50%                                                         70.50%    
Aggregate Cash contribution to fund       400,100,000                                                              
Cash contribution to fund       118,000,000                                                         282,100,000    
Aggregated amount deposited in connection with funding obligations                                                                   $ 40,000,000