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RELATED PARTY TRANSACTIONS (Details)
12 Months Ended
May. 20, 2015
USD ($)
a
Dec. 31, 2015
USD ($)
Dec. 31, 2014
USD ($)
Dec. 31, 2013
USD ($)
RELATED PARTY TRANSACTIONS        
Loan receivable, fixed interest rate (as percent)   19.70% 15.20%  
Fees incurred for loans originated   $ 0    
Meridian        
RELATED PARTY TRANSACTIONS        
Fees incurred for loans originated     $ 360,332 $ 360,332
Fees accrued and payable   300,000 $ 600,000  
Mezzanine loan | Halletts Investors LLC | Meridian        
RELATED PARTY TRANSACTIONS        
Loan receivable $ 25,000,000      
Loan receivable, fixed interest rate (as percent) 9.00%      
Interest income on loans   $ 1,400,000    
Halletts Investors LLC and Durst Halletts Member LLC | Three Limited Liability Companies        
RELATED PARTY TRANSACTIONS        
Percentage of investment of operating partner 97.33%      
Three Limited Liability Companies        
RELATED PARTY TRANSACTIONS        
Area of land | a 9.66