INCOME TAXES (Details) (USD $)	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
REIT requirements by the IRS [Abstract]
Minimum distribution requirement of its real estate investment trust taxable income to its shareholders (in hundredths)	90.00%
Net operating losses [Abstract]
Net operating losses (income)	$ 40,854,000	$ 26,408,000	$ (5,441,000)
Reconciliation of income tax expense (benefit) at Federal statutory rate to reported income tax expense [Abstract]
Computed 'Expected' federal tax expense (benefit) of TRS, at 35%	(6,136,000)	(1,875,000)	(1,061,000)
State income taxes, net of federal income tax effect	(1,146,000)	(304,000)	(421,000)
Changes in valuation allowance	7,282,000	2,179,000	1,482,000
Total income tax expense	0	0	0
Deferred tax assets [Abstract]
Net operating loss carryforward	13,054,000	5,755,000
Depreciation	(83,000)	(66,000)
Net deferred tax assets	12,971,000	5,689,000
Valuation allowance	(12,971,000)	(5,689,000)
Deferred tax assets	0	0
Taxability of shareholder distributions [Abstract]
Ordinary income (in hundredths)	100.00%	0.00%	0.00%
Return of Capital (in hundredths)	0.00%	100.00%	100.00%
Capital Gain Distribution (in hundredths)	0.00%	0.00%	0.00%
Class A Common Shares [Member]
Taxability of shareholder distributions [Abstract]
Ordinary income (in hundredths)	73.30%	0.00%	0.00%
Return of Capital (in hundredths)	26.70%	100.00%	100.00%
Capital Gain Distribution (in hundredths)	0.00%	0.00%	0.00%
New England 44 [Member]
Net operating losses [Abstract]
Net operating losses (income)	17,790	4,726	6,555
Revere [Member]
Net operating losses [Abstract]
Percentage of interest in taxable REIT subsidiary sold (in hundredths)			55.00%
Deferred tax assets [Abstract]
Deferred tax assets related to net operating loss carry forwards relinquished			$ 1,128