CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE LOSS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2015	Jun. 30, 2014	Jun. 30, 2015	Jun. 30, 2014
Revenues:
Rental income	$ 32,130	$ 26,104	$ 64,661	$ 53,275
Hotel revenue	7,363	6,542	11,572	9,447
Operating expense reimbursements and other revenue	4,184	3,303	8,346	6,819
Total revenues	43,677	35,949	84,579	69,541
Operating expenses:
Property operating	10,098	8,304	21,067	17,162
Hotel operating	6,495	5,775	12,165	10,922
Operating fees to the Advisor	3,101	2,274	6,245	2,274
Acquisition and transaction related	96	11,577	221	11,646
Vesting of asset management fees	0	11,500	0	11,500
Change in fair value of listing promote	0	(38,100)	0	(38,100)
General and administrative	5,203	2,758	9,153	4,119
Depreciation and amortization	22,154	20,222	42,886	41,235
Total operating expenses	47,147	100,510	91,737	136,958
Operating loss	(3,470)	(64,561)	(7,158)	(67,417)
Other income (expenses):
Interest expense	(6,024)	(4,813)	(11,957)	(8,752)
Income (loss) from unconsolidated joint venture	570	948	805	(1,036)
Income from preferred equity investment, investment securities and interest	8	677	938	1,301
Gain (loss) on derivative instruments	0	1	(4)	1
Total other expenses	(5,446)	(3,187)	(10,218)	(8,486)
Net loss	(8,916)	(67,748)	(17,376)	(75,903)
Net loss attributable to non-controlling interests	257	511	518	510
Net loss attributable to stockholders	(8,659)	(67,237)	(16,858)	(75,393)
Other comprehensive income (loss):
Unrealized gain (loss) on derivatives	427	(1,035)	(666)	(1,161)
Unrealized gain (loss) on investment securities	(192)	204	(88)	328
Total other comprehensive income (loss)	235	(831)	(754)	(833)
Comprehensive loss attributable to stockholders	$ (8,424)	$ (68,068)	$ (17,612)	$ (76,226)
Basic and diluted net loss per share attributable to stockholders (in dollars per share)	$ (0.05)	$ (0.40)	$ (0.10)	$ (0.44)
Dividends declared per common share (in dollars per share)	$ 0.12	$ 0.08	$ 0.23	$ 0.23