XML 39 R23.htm IDEA: XBRL DOCUMENT v3.3.1.900

Investments in Real Estate (Tables)

12 Months Ended

Dec. 31, 2015

Banking And Thrift [Abstract]

Summary of Investments in Real Estate

The table below summarizes our investments in real estate:

		2015				2014				Depreciable Lives (In years)
Land		$	190,585			$	112,600			-
Building			1,168,453				570,475			40
Furniture, fixtures and equipment			12,977				6,037			5-10
Total investment in real estate		$	1,372,015			$	689,112
Accumulated depreciation			(39,638	)			(23,376	)
Investments in real estate, net		$	1,332,377			$	665,736

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 Revenues And Net Income Loss Of Properties Acquired

The table below presents the revenue and net income (loss) for the properties acquired during the year ended December 31, 2015 as reported in our consolidated financial statements. 

		For the Year Ended December 31, 2015
Property		Total revenue				Net income (loss) allocable to common shares
TSRE portfolio		$	19,617			$	2,840
Bayview Club			1,736				40
Total		$	21,353			$	2,880

Pro Forma of Financial Information Purport to Represent Results of Operations for Future Periods

The table below presents the revenue, net income and earnings per share effect of the acquired properties on a pro forma basis as if the acquisitions occurred on January 1, 2014. These pro forma results are not necessarily indicative of the results which actually would have occurred if the acquisition had occurred on the first day of the periods presented, nor does the pro forma financial information purport to represent the results of operations for future periods: 

Description		For the Year Ended December 31, 2015				For the Year Ended December 31, 2014
Pro forma total revenue (unaudited)			156,418				110,519
Pro forma net income (loss) allocable to common shares    (unaudited)			39,887				14,262
Earnings (loss) per share attributable to common    shareholders:
Basic-pro forma (unaudited)		$	1.10			$	0.67
Diluted-pro forma (unaudited)		$	1.10			$	0.66

X

- Definition

Schedule of revenues and net income (loss) of properties acquired.

+ References

No definition available.

+ Details

Name:	irt_ScheduleOfRevenuesAndNetIncomeLossOfPropertiesAcquiredTableTextBlock
Namespace Prefix:	irt_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- References

No definition available.

+ Details

Name:	us-gaap_BankingAndThriftAbstract
Namespace Prefix:	us-gaap_
Data Type:	xbrli:stringItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of pro forma results of operations for a material business acquisition or series of individually immaterial business acquisitions that are material in the aggregate.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
-Subparagraph (h)(2)-(3)
-URI http://asc.fasb.org/extlink&oid=56956515&loc=d3e1392-128463

+ Details

Name:	us-gaap_BusinessAcquisitionProFormaInformationTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- Definition

Tabular disclosure of real estate properties and units in those properties that are included in the discussion of the nature of an entity's operations.

+ References

No definition available.

+ Details

Name:	us-gaap_ScheduleOfRealEstatePropertiesTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration

X

- 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

Name:	us-gaap_ScheduleOfRecognizedIdentifiedAssetsAcquiredAndLiabilitiesAssumedTableTextBlock
Namespace Prefix:	us-gaap_
Data Type:	nonnum:textBlockItemType
Balance Type:	na
Period Type:	duration