CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands		12 Months Ended
		Dec. 31, 2015	Dec. 31, 2014
Revenues
Net rental income		$ 42,259	$ 29,198
Other property revenues		1,996	1,165
Total revenues		44,255	30,363
Expenses
Property operating		17,851	13,213
General and administrative		4,108	2,694
Management fees		4,185	1,004
Acquisition costs		3,508	4,378
Depreciation and amortization		16,226	12,639
Total expenses		45,878	33,928
Operating loss		(1,623)	(3,565)
Other income (expense)
Other income		62	185
Equity in income (loss) of unconsolidated real estate joint ventures		6,590	1,066
Equity in gain on sale of unconsolidated real estate joint venture interests		11,303	4,067
Gain on sale of real estate assets		2,677	0
Interest expense, net		(11,366)	(8,427)
Total other income (expense)		9,266	(3,109)
Net income (loss) from continuing operations		7,643	(6,674)
Discontinued operations
Loss on operations of rental property		0	(10)
Loss on early extinguishment of debt		0	(880)
Gain on sale of joint venture interest		0	1,006
Income from discontinued operations		0	116
Net income (loss)		7,643	(6,558)
Income allocated to preferred shares		(1,153)	0
Net income (loss) attributable to noncontrolling interests
Operating partner units		35	(238)
Partially-owned properties		5,820	(1,148)
Net income (loss) attributable to noncontrolling interests		5,855	(1,386)
Net income (loss) attributable to common stockholders		$ 635	$ (5,172)
Income (loss) per common share - Basic
Continuing operations (in dollars per share)	[1]	$ 0.04	$ (0.98)
Discontinued operations (in dollars per share)	[1]	0	0.02
Income (loss) per common share - Basic Total	[1]	0.04	(0.96)
Income (loss) per common share - Diluted
Continuing operations (in dollars per share)	[1]	0.04	(0.98)
Discontinued operations (in dollars per share)	[1]	0	0.02
Income (loss) per common share - Diluted Total	[1]	$ 0.04	$ (0.96)
Weighted average basic common shares outstanding (in shares)	[1],[2]	17,404,348	5,381,787
Weighted average diluted common shares outstanding (in shares)	[1]	17,417,198	5,381,787

[1] Share and per share amounts have been restated to reflect the effects of two reverse stock splits of the Company’s Class B common stock, which occurred during the first quarter of 2014. See Note 1, "Organization and Nature of Business" and Note 12, "Stockholders' Equity" for further discussion.

[2] For 2015 and 2014, amounts relate to shares of the Company’s Class A, B-1, B-2, B-3 common stock and LTIP Units outstanding.