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Investments in Real Estate (Tables) | 3 Months Ended
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Mar. 31, 2017
Banking And Thrift [Abstract] |
Summary of Investments in Real Estate | The table below summarizes our investments in real estate:
|  | As of March 31, 2017 |  |  | As of December 31, 2016 |  |  | Depreciable Lives (In years) |
Land |  | $ | 169,018 |  |  | $ | 165,120 |  |  |  | — |
Building |  |  | 1,092,153 |  |  |  | 1,066,611 |  |  |  | 40 |
Furniture, fixtures and equipment |  |  | 19,669 |  |  |  | 17,625 |  |  | 5-10 |
Total investment in real estate |  | $ | 1,280,840 |  |  | $ | 1,249,356 |  |  |  |  |
Accumulated depreciation |  |  | (59,055 | ) |  |  | (51,511 | ) |  |  |  |
Investments in real estate, net |  | $ | 1,221,785 |  |  | $ | 1,197,845 |  |  |  |  |
Summary of Fair Value of Assets and Liabilities | The following table summarizes the aggregate fair value of the assets and liabilities associated with the property acquired during the three-month period ended March 31, 2017, on the date of acquisition, accounted for under FASB ASC Topic 805.
Description |  | Fair Value of Assets Acquired During the Three-Month Period Ended March 31, 2017 |
Assets acquired: |  |  |  |
Investments in real estate |  | $ | 29,441 |
Accounts receivable and other assets |  |  | 95 |
Intangible assets |  |  | 309 |
Total assets acquired |  | $ | 29,845 |
Liabilities assumed: |  |  |  |
Accounts payable and accrued expenses |  |  | 54 |
Other liabilities |  |  | 41 |
Total liabilities assumed |  | $ | 95 |
Estimated fair value of net assets acquired |  | $ | 29,750 |
Pro Forma of Financial Information Purport to Represent Results of Operations for Future Periods | The table below presents the revenue and net income (loss) for the properties acquired during the three-month period ended March 31, 2017 as reported in our consolidated financial statements.
|  | For the Three-Month Period Ended March 31, 2017 |  |
Property |  | Total revenue |  |  | Net income (loss) allocable to common shares |  |
Lakes of Northdale |  | $ | 269 |  |  | $ | 41 |  |
Total |  | $ | 269 |  |  | $ | 41 |  |
Description |  | For the Three-Month Period Ended March 31, 2017 |  |  | For the Three-Month Period Ended March 31, 2016 |
Pro forma total revenue (unaudited) |  | $ | 39,632 |  |  | $ | 39,418 |
Pro forma net income (loss) allocable to common shares (unaudited) |  | $ | 4,282 |  |  | $ | 93 |
Earnings (loss) per share attributable to common shareholders: |  |  |  |  |  |  |  |
Basic-pro forma (unaudited) |  | $ | 0.06 |  |  | $ | 0.00 |
Diluted-pro forma (unaudited) |  | $ | 0.06 |  |  | $ | 0.00 |

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- 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=65885119&loc=d3e1392-128463 + Details
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- 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
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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=73530397&loc=d3e4845-128472 + Details
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