Consolidated Statements of Cash Flows (USD $) In Thousands, unless otherwise specified	3 Months Ended
	Mar. 31, 2012	Mar. 31, 2011
Net loss	$ (705)	$ (703)
Adjustments to reconcile net loss to net cash provided by (used in) operating activities:
Depreciation and amortization	1,749	193
Gain on sale of real estate, net	(545)	0
Gain on extinguishment of debt	(597)	0
Deferred rent	(334)	(3)
Amortization of above- and below-market leases, net	280	30
Amortization of deferred financing costs	72	0
Interest accretion on marketable securities	286	0
Changes in assets and liabilities:
Rents and other receivables	(21)	29
Prepaid expenses and other assets	(687)	501
Accounts payable and accrued liabilities	280	(374)
Due to affiliates	(10)	(301)
Security deposits and other liabilities	305	(8)
Net cash provided by (used in) operating activities	73	(636)
Cash Flows from Investing Activities:
Improvements to real estate	(1,296)	(96)
Investments in real estate	0	(407)
Proceeds from sales of real estate, net	1,142	0
Investments in real estate loans receivable	(35,539)	(19,953)
Principal repayments on real estate loans receivable	0	544
Principal repayments on real estate securities	2,252	0
Net cash used in investing activities	(33,441)	(19,912)
Cash Flows from Financing Activities:
Proceeds from notes payable	757	0
Payments on notes payable	(2,869)	0
Payments on repurchase agreements	(1,404)	0
Proceeds from issuance of common stock	40,462	17,688
Payments to redeem common stock	(204)	0
Payments of commissions on stock sales and related dealer manager fees	(3,625)	(1,544)
Payments of other offering costs	(774)	(730)
Distributions paid	(183)	0
Noncontrolling interests contributions	997	0
Net cash provided by financing activities	33,157	15,414
Net decrease in cash and cash equivalents	(211)	(5,134)
Cash and cash equivalents, beginning of period	86,379	23,642
Cash and cash equivalents, end of period	86,168	18,508
Interest paid	785	0
Supplemental Disclosure of Noncash Transactions:
Investment in real estate through foreclosure	0	6,556
Increase in loan origination fees payable	112	0
Increase in due to affiliates for offering costs	0	101
Increase in accounts payable and accrued liabilities for offering costs	136	0
Distributions paid to common stockholders through common stock issuances pursuant to the dividend reinvestment plan	$ 364	$ 0