XML 53 R42.htm IDEA: XBRL DOCUMENT v3.19.1
Agreements and Transactions with Related Parties - Narratives (Details) - USD ($)
3 Months Ended
Mar. 31, 2019
Mar. 31, 2018
Jan. 01, 2019
Dec. 31, 2018
Jul. 31, 2016
Related Party Transaction          
Advisory agreement, term 1 year        
Advisory agreement additional renewal period. term 1 year        
Advisory agreement, unpenalized cancellation period 60 days        
Due from advisor $ 500,000     $ 400,000  
Maximum line of credit approved by directors         $ 50,000,000.0
Percentage of asset management fees payable in cash (percent)     50.00%    
Due to Related Party          
Underwriting compensation limit (as a percentage) 10.00%        
Preferred return (as a percentage) 5.00%        
Disposition fees $ 1,117,000 $ 0      
Personnel and overhead reimbursement (as a percentage) 1.00%        
Legal fee reimbursement rate 0.25%        
Distributions of available cash (as a percentage) 10.00%        
Current          
Due to Related Party          
Acquisition fees (as a percentage) 2.50%        
Deferred          
Due to Related Party          
Acquisition fees (as a percentage) 2.00%        
Interest rate on deferred acquisition fee 2.00%        
Accounts payable, accrued expenses and other liabilities          
Due to Related Party          
Estimated future payments $ 3,300,000     $ 3,800,000  
Class A common stock          
Related Party Transaction          
Net asset value (usd per share)       $ 8.73  
Percentage of asset management fees payable in shares (percent)     50.00%    
Number of shares held by advisor (shares) 115,444,107     114,589,333  
Class C          
Related Party Transaction          
Number of shares held by advisor (shares) 31,840,141     31,641,265  
Due to Related Party          
Shareholder servicing fee (as a percentage) 1.00%        
Real estate commission          
Due to Related Party          
Subordinated disposition fees (as a percentage) 50.00%        
Contract sales price of investment          
Due to Related Party          
Subordinated disposition fees (as a percentage) 3.00%        
Average invested asset          
Due to Related Party          
Percentage of operating expense reimbursement 2.00%        
Adjusted net income          
Due to Related Party          
Percentage of operating expense reimbursement 25.00%        
Minimum          
Due to Related Party          
Ownership Interest In joint venture (percentage) 50.00%        
Minimum | Average market value of investment          
Related Party Transaction          
Asset management fees (as a percentage) 0.50%        
Maximum          
Due to Related Party          
Acquisition fees (as a percentage) 6.00%        
Ownership Interest In joint venture (percentage) 99.00%        
Maximum | Average equity value of investment          
Related Party Transaction          
Asset management fees (as a percentage) 1.50%        
Affiliated Entity | W.P. Carey          
Related Party Transaction          
Loan from related party $ 0     $ 0  
Affiliated Entity | Advisor | Class A common stock          
Related Party Transaction          
Number of shares held by advisor (shares) 5,259,524        
Advisor owned percentage of common stock 3.60%