Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenue:
Investment interest income	$ 25,802	$ 23,248
Investment interest expense	(7,896)	(6,914)
Net interest margin	17,906	16,334
Property income	68,722	53,274
Fee and other income	2,852	5,594
Total revenue	89,480	75,202
Expenses:
Interest expense	27,006	19,683
Real estate operating expense	30,706	25,277
Compensation expense	7,075	6,108
General and administrative expense	5,063	5,400
Acquisition expense	269	957
Provision for loan losses	1,325	2,000
Depreciation and amortization expense	24,276	19,024
Total expenses	95,720	78,449
Operating (Loss) Income	(6,240)	(3,247)
Interest and other income (expense), net	61	(395)
Gains (losses) on assets	2,258
Gain on IRT merger with TSRE	91
Gains (losses) on extinguishments of debt	344
Asset impairment	(3,922)
Change in fair value of financial instruments	(4,088)	4,490
Income (loss) before taxes	(11,496)	848
Income tax benefit (provision)	993	(582)
Net income (loss)	(10,503)	266
(Income) loss allocated to preferred shares	(8,520)	(7,859)
(Income) loss allocated to noncontrolling interests	1,179	496
Net income (loss) allocable to common shares	$ (17,844)	$ (7,097)
Earnings (loss) per share-Basic:
Earnings (loss) per share-Basic	$ (0.20)	$ (0.09)
Weighted-average shares outstanding-Basic	91,018,160	82,081,024
Earnings (loss) per share-Diluted:
Earnings (loss) per share-Diluted	$ (0.20)	$ (0.09)
Weighted average shares outstanding-Diluted	91,018,160	82,081,024