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Related Party Arrangements (Tables)

6 Months Ended

Jun. 30, 2013

Related Party Transactions [Abstract]

Schedule of the fees and reimbursements incurred to the advisor and due to related party

				June 30, 2013
Type of Fee or Reimbursement		Financial Statement Location		Three Months Ended			Six Months Ended			Due to related party as of June 30, 2013
Organization and offering costs
Organization ⁽¹⁾		General and administrative expenses		$	440		$	1,978		$	152
Offering ⁽¹⁾		Cost of capital⁽²⁾			8,365			37,578			2,878
Operating costs ⁽³⁾		General and administrative expenses			6,014			6,014			—
Advisory fees
Asset management		Advisory fees-related party			4,819			4,819			1,708
Acquisition ⁽⁴⁾		Real estate debt investments, net / Advisory fees-related party			25,000			25,000			5,000
Disposition⁽⁴⁾		Real estate debt investments, net			—			—			—
Selling commissions / Dealer manager fees		Cost of capital ⁽²⁾			53,152			58,152			—
Total										$	9,738

(1)	As of June 30, 2013, the Advisor incurred unreimbursed organization and offering costs on behalf of the Company and $2.4 million is still allocable.
(2)	Cost of capital is included in net proceeds from issuance of common stock in the consolidated statements of equity.
(3)	As of June 30, 2013, the Advisor incurred unreimbursed operating costs on behalf of the Company and $0.5 million is still allocable.
(4)	Acquisition/disposition fees incurred to the Advisor related to debt investments are generally offset by origination/exit fees paid to the Company by borrowers if such fees are required from the borrower. The Advisor may determine to defer fees or seek reimbursement, subject to compliance with applicable policies.