XML 67 R55.htm IDEA: XBRL DOCUMENT v3.19.2
Certain Relationships and Related Party Transactions - Narrative (Details)
3 Months Ended 6 Months Ended
Mar. 01, 2019
USD ($)
Feb. 28, 2019
USD ($)
Apr. 23, 2017
USD ($)
Jun. 30, 2019
USD ($)
Jun. 30, 2019
USD ($)
apartment_complex
Jun. 30, 2018
USD ($)
Dec. 31, 2018
USD ($)
Related Party Transaction [Line Items]              
Due from related parties       $ 5,380 $ 5,380   $ 13,772
Insurance pool (up to)   $ 2,500,000          
Property loss pool, deductible amount per incident   25,000          
Catastrophic insurance (up to) $ 250,000,000 250,000,000          
General liability pool, deductible amount per incident       $ 25,000 $ 25,000    
General liability insurance, insured limit for general liability policy (up to)     $ 76,000,000        
Maximum              
Related Party Transaction [Line Items]              
Catastrophic insurance, deductible amount per incident 100,000 100,000          
Minimum              
Related Party Transaction [Line Items]              
Catastrophic insurance, deductible amount per incident $ 25,000 $ 25,000          
Class R Common Stock              
Related Party Transaction [Line Items]              
Annual fee, percentage of purchase price of common stock sold (as percent)         1.00%    
Triggering event to cease payment, percentage of gross proceeds (as percent)       10.00% 10.00%    
Underwriting compensation as percentage of Class R gross offering price (as a percent)         8.50%    
Class T Common Stock              
Related Party Transaction [Line Items]              
Annual fee, percentage of purchase price of common stock sold (as percent)         1.00%    
Triggering event to cease payment, percentage of gross proceeds (as percent)       10.00% 10.00%    
Advisor              
Related Party Transaction [Line Items]              
Cumulative advances from related party       $ 8,900,000 $ 8,900,000    
Term of advisory agreement         1 year    
Acquisition fee (as a percent)         2.00%    
Monthly asset management fee (as a percent)         0.083%    
Disposition fee, as a percentage of the aggregate brokerage commission paid (as percent)         50.00%    
Disposition fee (as percent)         2.00%    
Debt financing fee (as percent)         0.50%    
Formation and other operating expenses         $ 104,266    
Due from related parties       585 $ 585   291
Advisor | Primary Offering Price              
Related Party Transaction [Line Items]              
Approximate reimbursement of organization and offering expenses to be reimbursed, option one (as percent)         4.00%    
Offering proceeds, threshold, option one (less than)         $ 500,000,000    
Approximate reimbursement of organization and offering expenses to be reimbursed, option two (as percent)         2.50%    
Manager              
Related Party Transaction [Line Items]              
Property management fee (as percent)         4.50%    
Due from related parties       585 $ 585   291
Construction management fee (as percent)         5.00%    
Debt servicing fee (as percent)         2.75%    
Resource Securities              
Related Party Transaction [Line Items]              
Due from related parties       $ 409 $ 409   $ 682
Resource Securities | Class R Common Stock              
Related Party Transaction [Line Items]              
Annual fee, percentage of purchase price of common stock sold (as percent)         1.00%    
Triggering event to cease payment, percentage of gross proceeds (as percent)       10.00% 10.00%    
Underwriting compensation as percentage of Class R gross offering price (as a percent)         8.50%    
Resource Securities | Class R Common Stock | Maximum              
Related Party Transaction [Line Items]              
Selling commission (as percent)         3.00%    
Dealer manager fee (as percent)         3.50%    
Selling commission (as percent)         5.50%    
Resource Securities | Class I Common Stock | Maximum              
Related Party Transaction [Line Items]              
Dealer manager fee (as percent)         1.50%    
Resource Securities | Class T Common Stock              
Related Party Transaction [Line Items]              
Annual fee, percentage of purchase price of common stock sold (as percent)         1.00%    
Period of time to receive annual fee from the date each share is issued         5 years    
Percentage of purchase price of common stock sold, total (as percent)         5.00%    
Resource America, Inc. | Payne Place | Mortgages              
Related Party Transaction [Line Items]              
Number of apartment complexes owned | apartment_complex         5    
Minimum net worth       $ 50,000,000 $ 50,000,000    
Liquidity (no less than)       5,000,000 $ 5,000,000    
Aggregate portfolio leverage (as percent) (no more than)         65.00%    
The Planning and Zoning Resource Company              
Related Party Transaction [Line Items]              
Payment for zoning report       1,565 $ 2,716 $ 1,980  
Resource America, Inc. and Affiliates              
Related Party Transaction [Line Items]              
Maximum amount covered for liability insurance program       $ 100,000,000 $ 100,000,000