XML 35 R57.htm IDEA: XBRL DOCUMENT v2.4.0.8
Other Expenses - Additional Information (Detail) (USD $)
3 Months Ended
Mar. 31, 2014
Mar. 31, 2013
Mar. 31, 2014
Manager [Member]
Mar. 31, 2013
Manager [Member]
Mar. 31, 2014
Incentive Awards Plan [Member]
Dec. 31, 2013
Incentive Awards Plan [Member]
Employee Service Share-based Compensation, Allocation of Recognized Period Costs [Line Items]            
Base management fee, per annum $ 250,000          
Management fee - percent of outstanding Equity balance 1.50%          
Incentive fee computation-percent of the product per agreement 20.00%          
Incentive fee computation-percent of outstanding Equity per annum 7.00%          
Management fees description Manager earns a base management fee in an amount equal to the greater of (i) $250,000 per annum and (ii) 1.50% per annum multiplied by our outstanding Equity balance, as defined in the management agreement. In addition, our Manager is entitled to an incentive fee in an amount equal to the product of (i) 20% and (ii) the excess of (a) our Core Earnings (as defined in the management agreement) for the previous 12-month period (or the period since January 1, 2013, whichever is shorter) over (b) an amount equal to 7.00% per annum multiplied by our outstanding Equity, provided that our Core Earnings over the prior three-year period (or the period since the date of the first offering of our class A common stock following December 19, 2012, whichever is shorter) is greater than zero. Core Earnings is generally equal to our net income (loss) prepared in accordance with GAAP, excluding (i) certain non-cash items, including the amortization of the deemed discount on our convertible notes resulting from the conversion option value accounting under GAAP and (ii) the net income (loss) related to our legacy portfolio.          
Management fees 3,397,000 63,000 3,397,000 63,000    
Incentive fees payable     0 0    
Percentage of the dividends paid to common equity holders created employee pool         6.75%  
Percentage of granted incentive compensation to employees         94.00%  
Percentage of grants vesting schedule         53.00%  
Description of incentive management fee grants to employees vesting schedule         (i) 25% on the date of grant; (ii) 25% in March 2013; (iii) 25% in March 2014; and (iv) the remainder is contingent on continued employment with an affiliate of our Manager and our receipt of distributions from CT Legacy Partners. Of the remaining 47% of these grants, 29% are fully vested as a result of an acceleration event, and 18% vest only upon our receipt of distributions from CT Legacy Partners.  
Percentage of grants vesting upon receipt of dividends         18.00%  
Percentage of remaining grants after vesting schedule         47.00%  
Percentage of fully vested grants         29.00%  
Accrued payables, awards         $ 2,900,000 $ 2,800,000