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TSRE Merger (Tables)

12 Months Ended

Dec. 31, 2015

Summary of Fair Value of Assets and Liabilities

Description		Fair Value of Assets Acquired During the Year Ended December 31, 2015
Assets acquired:
Investments in real estate		$	707,268
Cash and cash equivalents			2,685
Accounts receivable and other assets			6,600
Intangible assets			7,690
Total assets acquired		$	724,243
Liabilities assumed:
Indebtedness		$	359,495
Accounts payable and accrued expenses			7,867
Accrued interest payable			130
Other liabilities			3,764
Total liabilities assumed		$	371,256
Estimated fair value of net assets acquired		$	352,987

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

The estimated 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			6,513
Intangible assets			7,471
Indebtedness			(359,495	)
Accounts payable and accrued expenses			(7,379	)
Accrued interest payable			(130	)
Other liabilities			(3,662	)
Net assets acquired		$	328,240

X

- Definition

Tabular disclosure of a material business combination completed during the period, including background, timing, and recognized assets and liabilities. This table does not include leveraged buyouts.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 3
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1486-128463

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

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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

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