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TSRE Merger (Tables) | 9 Months Ended
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Sep. 30, 2015
Summary of Fair Value of Assets and Liabilities | The following table summarizes the aggregate fair value of the assets and liabilities associated with all of the properties acquired during the nine-month period ended September 30, 2015, on the date of each acquisition, for the real estate accounted for under FASB ASC Topic 805.
Description |  | Fair Value of Assets Acquired During the Nine-Month Period Ended September 30, 2015 |
Assets acquired: |  |  |  |
Investments in real estate |  | $ | 707,268 |
Cash and cash equivalents |  |  | 2,685 |
Accounts receivable and other assets |  |  | 6,210 |
Intangible assets |  |  | 7,690 |
Total assets acquired |  | $ | 723,853 |
Liabilities assumed: |  |  |  |
Indebtedness |  | $ | 359,495 |
Accounts payable and accrued expenses |  |  | 8,069 |
Accrued interest payable |  |  | 130 |
Other liabilities |  |  | 3,764 |
Total liabilities assumed |  | $ | 371,458 |
Estimated fair value of net assets acquired |  | $ | 352,395 |
Schedule of Fair Value of Consideration Transferred | The fair value of the consideration transferred on September 17, 2015 was as follows:
Cash consideration for TSRE merger | $ | 139,781 |
Equity consideration for TSRE merger |  | 123,855 |
Total | $ | 263,636 |
Trade Street Residential, Inc. |
Summary of Fair Value of Assets and Liabilities | As previously discussed in Note 1, the TSRE merger closed on September 17, 2015. The preliminary fair value of the assets and liabilities acquired on acquired on September 17, 2015 was as follows:
Investments in real estate | $ | 682,237 |
Cash assumed |  | 2,685 |
Accounts receivable and other assets |  | 6,123 |
Intangible assets |  | 7,471 |
Indebtedness |  | (359,495 | )
Accounts payable and accrued expenses |  | (7,581 | )
Accrued interest payable |  | (130 | )
Other liabilities |  | (3,662 | )
Net assets acquired | $ | 327,648 |

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- Definition Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree. + References Reference 1: http://www.xbrl.org/2003/role/presentationRef -Publisher FASB -Name Accounting Standards Codification -Topic 805 -SubTopic 20 -Section 50 -Paragraph 1 -URI http://asc.fasb.org/extlink&oid=56956791&loc=d3e4845-128472 + Details
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