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INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details)
1 Months Ended 3 Months Ended
Apr. 30, 2012
Mar. 31, 2016
USD ($)
Joint_Venture
Mar. 31, 2015
USD ($)
Dec. 31, 2015
USD ($)
Aug. 07, 2015
USD ($)
Mar. 22, 2013
Apr. 15, 2011
Schedule of Equity Method Investments [Line Items]              
Investments in unconsolidated joint ventures   $ 34,855,000   $ 33,797,000      
Number of unconsolidated joint ventures | Joint_Venture   1          
Management fee   $ 2,975,000 $ 3,541,000        
Expenses from investment   (4,416,000) (3,764,000)        
LCRIP I              
Schedule of Equity Method Investments [Line Items]              
Investments in unconsolidated joint ventures   1,000,000   49,000      
Minimum average net equity partnership investment as a basis for management fee reduction   100,000,000          
Management fee   6,905 $ 100,000        
LCRIP I | LP Units              
Schedule of Equity Method Investments [Line Items]              
Ownership interest (as a percent)             10.00%
Grace Lake JV, LLC              
Schedule of Equity Method Investments [Line Items]              
Investments in unconsolidated joint ventures   $ 3,116,000   2,891,000      
Percentage of equity kicker received with right to convert upon capital event 25.00%            
Preferred return used to determine distribution of excess cash flow (as a percent)   8.25%          
Percentage of distribution of all excess cash flows and all disposition proceeds upon any sale entitled after consideration of preferred return and return of equity remaining in the property to operating partner   25.00%          
Percentage of investment of operating partner   75.00%          
Grace Lake JV, LLC | LP Units              
Schedule of Equity Method Investments [Line Items]              
Ownership interest (as a percent)           25.00%  
Grace Lake JV, LLC | Limited liability company              
Schedule of Equity Method Investments [Line Items]              
Ownership interest (as a percent)   25.00%          
24 Second Avenue              
Schedule of Equity Method Investments [Line Items]              
Investments in unconsolidated joint ventures   $ 30,739,000   $ 30,857,000      
Ownership interest (as a percent)         73.80%    
Profit multiplier ratio         1.70    
Ownership percentage after achievement of profit multiplier ratio         50.00%    
Amount contributed         $ 31,100,000    
Expenses from investment   (300,000)          
Interest costs capitalized   $ 200,000          
24 Second Avenue | Operating Partner              
Schedule of Equity Method Investments [Line Items]              
Ownership interest (as a percent)         26.20%    
Ownership percentage after achievement of profit multiplier ratio         50.00%