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Debt (Details 1) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2015
Dec. 31, 2014
Debt Instrument [Line Items]    
Principal Outstanding $ 566,495 $ 300,673
Stated Interest Rate  
The Grove at Muncie [Member]    
Debt Instrument [Line Items]    
Face Amount $ 14,567  
Principal Outstanding $ 13,892 13,892
Stated Interest Rate LIBOR + 225 BPS  
Interest Rate 2.43%  
Maturity Date [1] Jul. 31, 2015  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove at Slippery Rock [Member]    
Debt Instrument [Line Items]    
Face Amount $ 17,961  
Principal Outstanding $ 17,738 16,031
Stated Interest Rate LIBOR + 215 BPS  
Interest Rate 2.33%  
Maturity Date [1] Jun. 21, 2016  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove at Fort Collins [Member]    
Debt Instrument [Line Items]    
Face Amount $ 19,073  
Principal Outstanding $ 19,073 19,073
Stated Interest Rate LIBOR + 190 BPS  
Interest Rate 2.08%  
Maturity Date [1] Jul. 13, 2016  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove at Pullman [Member]    
Debt Instrument [Line Items]    
Face Amount $ 16,016  
Principal Outstanding $ 10,886 10,886
Stated Interest Rate LIBOR + 220 BPS  
Interest Rate 2.38%  
Maturity Date [1] Sep. 05, 2016  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove at Grand Forks [Member]    
Debt Instrument [Line Items]    
Face Amount $ 16,916  
Principal Outstanding $ 15,414 12,474
Stated Interest Rate LIBOR + 200 BPS  
Interest Rate 2.18%  
Maturity Date [1] Feb. 05, 2016  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove At Gainesville [Member]    
Debt Instrument [Line Items]    
Face Amount $ 30,069  
Principal Outstanding $ 25,593 22,836
Stated Interest Rate LIBOR + 215 BPS  
Interest Rate 2.33%  
Maturity Date [1] Mar. 13, 2017  
Mortgage Notes Payable Amortization Terms Interest only  
Copper Beech At Ames [Member]    
Debt Instrument [Line Items]    
Face Amount $ 23,551  
Principal Outstanding $ 21,797 21,170
Stated Interest Rate LIBOR + 225 BPS  
Interest Rate 2.43%  
Maturity Date [1] May 02, 2017  
Mortgage Notes Payable Amortization Terms Interest only  
Toledo Vivo [Member]    
Debt Instrument [Line Items]    
Face Amount $ 9,404  
Principal Outstanding $ 4,377 4,357
Stated Interest Rate LIBOR + 215 BPS  
Interest Rate 2.33%  
Maturity Date [1] Nov. 25, 2017  
Mortgage Notes Payable Amortization Terms Interest only  
CMU Phase II Mount Pleasant MI [Member]    
Debt Instrument [Line Items]    
Face Amount $ 10,130  
Principal Outstanding $ 9,120 0 [2]
Stated Interest Rate LIBOR + 250 BPS  
Interest Rate 2.68%  
Maturity Date [1] Feb. 01, 2017  
Mortgage Notes Payable Amortization Terms [3] 30 years  
Statesboro GA Phase II [Member]    
Debt Instrument [Line Items]    
Face Amount $ 9,703  
Principal Outstanding $ 9,288 0 [2]
Stated Interest Rate LIBOR + 250 BPS  
Interest Rate 2.68%  
Maturity Date [1] Nov. 01, 2016  
Mortgage Notes Payable Amortization Terms [3] 30 years  
Auburn AL [Member]    
Debt Instrument [Line Items]    
Face Amount $ 15,750  
Principal Outstanding $ 15,750 0 [2]
Stated Interest Rate LIBOR + 200 BPS  
Interest Rate 2.18%  
Maturity Date [1] Feb. 06, 2017  
Mortgage Notes Payable Amortization Terms Interest only  
The Grove At Denton [Member]    
Debt Instrument [Line Items]    
Face Amount $ 17,167  
Principal Outstanding $ 16,549 16,613
Stated Interest Rate LIBOR + 215 BPS  
Interest Rate 2.33%  
Maturity Date [1] Mar. 01, 2017  
Mortgage Notes Payable Amortization Terms [4] 30 years  
The Grove at Milledgeville [Member]    
Debt Instrument [Line Items]    
Face Amount $ 16,250  
Principal Outstanding $ 15,583 15,640
Stated Interest Rate 6.12%  
Interest Rate 6.12%  
Maturity Date [1] Oct. 01, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
The Grove at Carrollton and The Grove at Las Cruces [Member]    
Debt Instrument [Line Items]    
Face Amount $ 29,790  
Principal Outstanding $ 28,571 28,674
Stated Interest Rate 6.13%  
Interest Rate 6.13%  
Maturity Date [1] Oct. 11, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
The Grove at Asheville [Member]    
Debt Instrument [Line Items]    
Face Amount $ 14,800  
Principal Outstanding $ 14,251 14,304
Stated Interest Rate 5.77%  
Interest Rate 5.77%  
Maturity Date [1] Apr. 11, 2017  
Mortgage Notes Payable Amortization Terms [4] 30 years  
The Grove at Ellensburg [Member]    
Debt Instrument [Line Items]    
Face Amount $ 16,125  
Principal Outstanding $ 15,784 15,845
Stated Interest Rate 5.10%  
Interest Rate 5.10%  
Maturity Date [1] Sep. 01, 2018  
Mortgage Notes Payable Amortization Terms [5] 30 years  
The Grove at Nacogdoches [Member]    
Debt Instrument [Line Items]    
Face Amount $ 17,160  
Principal Outstanding $ 16,792 16,857
Stated Interest Rate 5.01%  
Interest Rate 5.01%  
Maturity Date [1] Sep. 01, 2018  
Mortgage Notes Payable Amortization Terms [5] 30 years  
The Grove at Greeley [Member]    
Debt Instrument [Line Items]    
Face Amount $ 15,233  
Principal Outstanding $ 14,880 14,945
Stated Interest Rate 4.29%  
Interest Rate 4.29%  
Maturity Date [1] Oct. 01, 2018  
Mortgage Notes Payable Amortization Terms [5] 30 years  
The Grove at Clarksville [Member]    
Debt Instrument [Line Items]    
Face Amount $ 16,350  
Principal Outstanding $ 16,167 16,238
Stated Interest Rate 4.03%  
Interest Rate 4.03%  
Maturity Date [1] Jul. 01, 2022  
Mortgage Notes Payable Amortization Terms [6] 30 years  
The Grove at Columbia [Member]    
Debt Instrument [Line Items]    
Face Amount $ 23,775  
Principal Outstanding $ 22,623 22,738
Stated Interest Rate 3.83%  
Interest Rate 3.83%  
Maturity Date [1] Jul. 01, 2022  
Mortgage Notes Payable Amortization Terms [4] 30 years  
The Grove at Statesboro [Member]    
Debt Instrument [Line Items]    
Face Amount $ 18,100  
Principal Outstanding $ 18,047 18,100
Stated Interest Rate 4.01%  
Interest Rate 4.01%  
Maturity Date [1] Jan. 01, 2023  
Mortgage Notes Payable Amortization Terms [7] 30 years  
Copper Beech I State College [Member]    
Debt Instrument [Line Items]    
Face Amount $ 5,250  
Principal Outstanding $ 5,136 0 [2]
Stated Interest Rate 5.61%  
Interest Rate 5.61%  
Maturity Date [1] Feb. 11, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Copper Beech II State College [Member]    
Debt Instrument [Line Items]    
Face Amount $ 8,805  
Principal Outstanding $ 9,446 0 [2]
Stated Interest Rate 5.97%  
Interest Rate 5.97%  
Maturity Date [1] Aug. 01, 2019  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Oakwood State College [Member]    
Debt Instrument [Line Items]    
Face Amount $ 5,750  
Principal Outstanding $ 6,119 0 [2]
Stated Interest Rate 4.99%  
Interest Rate 4.99%  
Maturity Date [1] Oct. 01, 2020  
Mortgage Notes Payable Amortization Terms [4] 30 years  
IUP Phase I Indiana [Member]    
Debt Instrument [Line Items]    
Face Amount $ 6,500  
Principal Outstanding $ 6,500 0 [2]
Stated Interest Rate 2.15%  
Interest Rate 2.15%  
Maturity Date [1] Jun. 02, 2017  
Mortgage Notes Payable Amortization Terms Interest only  
IUP Phase II Indiana [Member]    
Debt Instrument [Line Items]    
Face Amount $ 6,250  
Principal Outstanding $ 6,027 0 [2]
Stated Interest Rate 5.90%  
Interest Rate 5.90%  
Maturity Date [1] Oct. 01, 2015  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Radford [Member]    
Debt Instrument [Line Items]    
Face Amount $ 12,400  
Principal Outstanding $ 12,624 0 [2]
Stated Interest Rate 5.99%  
Interest Rate 5.99%  
Maturity Date [1] Nov. 06, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Bloomington [Member]    
Debt Instrument [Line Items]    
Face Amount $ 10,860  
Principal Outstanding $ 7,873 0 [2]
Stated Interest Rate 6.22%  
Interest Rate 6.22%  
Maturity Date [1] Oct. 01, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
CMU Phase I Mount Pleasant MI [Member]    
Debt Instrument [Line Items]    
Face Amount $ 20,000  
Principal Outstanding $ 18,455 0 [2]
Stated Interest Rate 5.47%  
Interest Rate 5.47%  
Maturity Date [1] Oct. 01, 2015  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Bowling Green Phase I [Member]    
Debt Instrument [Line Items]    
Face Amount $ 13,000  
Principal Outstanding $ 12,344 0 [2]
Stated Interest Rate 5.63%  
Interest Rate 5.63%  
Maturity Date [1] Oct. 01, 2015  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Allendale Phase I [Member]    
Debt Instrument [Line Items]    
Face Amount $ 23,780  
Principal Outstanding $ 24,110 0 [2]
Stated Interest Rate 5.98%  
Interest Rate 5.98%  
Maturity Date [1] Oct. 01, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Allendale Phase II [Member]    
Debt Instrument [Line Items]    
Face Amount $ 11,896  
Principal Outstanding $ 12,621 0 [2]
Stated Interest Rate 6.27%  
Interest Rate 6.27%  
Maturity Date [1] Sep. 06, 2017  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Columbia MO [Member]    
Debt Instrument [Line Items]    
Face Amount $ 24,516  
Principal Outstanding $ 24,997 0 [2]
Stated Interest Rate 6.22%  
Interest Rate 6.22%  
Maturity Date [1] Oct. 01, 2016  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Statesboro GA Phase I [Member]    
Debt Instrument [Line Items]    
Face Amount $ 31,000  
Principal Outstanding $ 32,455 0 [2]
Stated Interest Rate 5.81%  
Interest Rate 5.81%  
Maturity Date [1] Oct. 06, 2017  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Columbia SC Phase I [Member]    
Debt Instrument [Line Items]    
Face Amount $ 36,936  
Principal Outstanding $ 38,995 0 [2]
Stated Interest Rate 6.27%  
Interest Rate 6.27%  
Maturity Date [1] Sep. 06, 2017  
Mortgage Notes Payable Amortization Terms [4] 30 years  
Columbia SC Phase II [Member]    
Debt Instrument [Line Items]    
Face Amount $ 6,300  
Principal Outstanding $ 6,618 $ 0 [2]
Stated Interest Rate 5.41%  
Interest Rate 5.41%  
Maturity Date [1] Aug. 01, 2020  
Mortgage Notes Payable Amortization Terms [4] 30 years  
[1] For the construction loans, the maturity date is the stated maturity date in the respective loan agreements, some of which can be extended for an additional one to two years, subject to the satisfaction of certain conditions, depending on the loan. Prior to the filing of this document, the construction loan for The Grove at Fort Collins was extended to July 31, 2016. The extension for the construction loan for The Grove at Muncie is pending an appraisal. Additionally, for loans that have matured or will mature during 2015, the Company is actively pursuing an extension or refinancing of those loans.
[2] As stated in Note 6, on January 30, 2015, the Company and certain of its affiliates completed the acquisition of substantially all of the Sellers’ remaining interests in 28 of the Copper Beech properties. Accordingly, these balances were not recognized by the Company as of December 31, 2014. As part of recording the mortgage loans from the First CB Closing at fair value, the outstanding amount, after giving effect for each loan’s respective provisional fair value adjustment, could result in an outstanding balance greater than the face amount of the mortgage loan. These fair value adjustments are amortized to interest expense over the term of the respective mortgage loans.
[3] Loan required interest only payments until the loan was extended in March of 2015. Thereafter, principal and interest, plus certain reserves, are payable monthly until maturity.
[4] Loan requires monthly payments of principal and interest, plus certain reserve and escrows, until maturity when all principal is due.
[5] Loan requires interest only payments plus certain reserves and escrows, payable monthly through September 2013. Thereafter, principal and interest, plus certain reserves and escrows, are payable monthly until maturity.
[6] Loan requires interest only payments plus certain reserves and escrows, payable monthly through August 2014. Thereafter, principal and interest, plus certain reserves and escrows, are payable monthly until maturity.
[7] Loan requires interest only payments plus certain reserves and escrows, payable monthly through January 2015. Thereafter, principal and interest, plus certain reserves and escrows, are payable monthly until maturity.