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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Revenues:        
Rental income from operating leases $ 4,068,800 $ 1,922,467 $ 7,553,207 $ 2,863,982
Resident fees and services 4,527,377   8,845,095  
Other revenues 12,838   12,838  
Total revenues 8,609,015 1,922,467 16,411,140 2,863,982
Expenses:        
Property operating expenses 3,330,765   6,547,848  
General and administrative 1,567,696 575,352 2,676,728 1,059,400
Acquisition fees and expenses 2,365,781 75,772 2,944,307 1,975,185
Asset management fees 598,034 210,125 1,586,654 280,167
Property management fees 485,786 33,137 941,375 49,515
Depreciation and amortization 2,563,452 631,883 4,882,369 842,079
Total expenses, net 10,911,514 1,526,269 19,579,281 4,206,346
Operating income (loss) (2,302,499) 396,198 (3,168,141) (1,342,364)
Other income (expense):        
Interest and other income 788 5,245 1,923 5,346
Interest expense and loan cost amortization (1,678,058) (753,922) (4,914,594) (1,428,761)
Equity in earnings (loss) from unconsolidated entities 1,181,752 (773,628) [1] 1,460,135 (773,628) [1]
Total other income (expense) (495,518) (1,522,305) (3,452,536) (2,197,043)
Loss before income taxes (2,798,017) (1,126,107) (6,620,677) (3,539,407)
Income tax expense (31,385)   (18,073)  
Net loss $ (2,829,402) $ (1,126,107) $ (6,638,750) $ (3,539,407)
Net loss per share of common stock (basic and diluted) $ (0.09) $ (0.16) $ (0.25) $ (0.71)
Weighted average number of shares of common stock outstanding (basic and diluted) 30,811,974 6,833,099 26,758,120 4,984,881
[1] Represents operating data from the date of acquisition through the end of the period presented.