CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (USD $) In Thousands, except Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2013	Dec. 31, 2012	Dec. 31, 2011
Revenues:
Student housing rental	$ 87,635	$ 71,211	$ 49,048
Student housing services	3,615	2,880	2,062
Development, construction and management services	51,069	54,295	35,084
Total revenues	142,319	128,386	86,194
Operating expenses:
Student housing operations	40,346	32,633	23,316
Development, construction and management services	46,759	50,493	31,051
General and administrative	10,658	8,821	6,749
Transaction costs	1,121	0	0
Ground leases	249	217	209
Impairment of unconsolidated entity	312	0	0
Depreciation and amortization	23,700	20,693	16,524
Total operating expenses	123,145	112,857	77,849
Equity in earnings (loss) of unconsolidated entities	(3,727)	361	(1,164)
Operating income	15,447	15,890	7,181
Nonoperating income (expense):
Interest expense	(12,969)	(11,545)	(6,888)
Other income (expense)	1,414	(410)	720
Gain on purchase of previously unconsolidated entities	0	6,554	3,159
Total nonoperating expense, net	(11,555)	(5,401)	(3,009)
Net income before income tax benefit (expense)	3,892	10,489	4,172
Income tax benefit (expense)	727	(356)	(464)
Income from continuing operations	4,619	10,133	3,708
Income (loss) from discontinued operations	(3,001)	665	73
Net income	1,618	10,798	3,781
Net income (loss) attributable to noncontrolling interests	(34)	46	51
Dividends on preferred stock	6,183	4,114	0
Net income (loss) attributable to common stockholders	(4,531)	6,638	3,730
Per share data - basic and diluted
Income (loss) from continuing operations attributable to common stockholders	$ (0.03)	$ 0.17	$ 0.12
Income (loss) from discontinued operations attributable to common shareholders	$ (0.05)	$ 0.02	$ 0
Net income (loss) per share attributable to common stockholders	$ (0.08)	$ 0.19	$ 0.12
Weighted-average common shares outstanding:
Basic	59,984	34,781	30,717
Diluted	60,418	35,217	31,153
Consolidated statements of comprehensive income (loss):
Net income	1,618	10,798	3,781
Foreign currency translation	(71)	0	0
Change in fair value of interest rate derivatives	58	332	(215)
Comprehensive income	1,605	11,130	3,566
Net income (loss) attributable to noncontrolling interests	(34)	46	51
Change in fair value of interest rate derivatives attributable to noncontrolling interest	1	3	0
Dividends on preferred stock	6,183	4,114	0
Comprehensive income (loss) attributable to common stockholders	$ (4,545)	$ 6,967	$ 3,515