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RENTAL PROPERTIES (Details 2) (USD $)
0 Months Ended 1 Months Ended 3 Months Ended
May 31, 2013
Jul. 15, 2013
Hamilton Green Apartments, LLC
item
Sep. 30, 2013
Mortgages payable
Hamilton Green Apartments, LLC
May 31, 2013
Nashoba Apartments L.P. Residential Apartments Acton, Massachusetts
Jun. 30, 2013
Nashoba Apartments L.P. Residential Apartments Acton, Massachusetts
RENTAL PROPERTIES          
Sales price of real estate properties       $ 4,300,000 $ 4,300,000
Amount of sale proceeds transferred to Investment Property 2,100,000        
Gain on sale of property       3,679,000  
Number of units   193      
Purchase price of real estate properties   62,500,000      
Purchase price allocated to the value of the in-place leases   1,656,000      
Purchase price allocated to the value of the tenant relationships   96,000      
Amortization period of value of the in-place leases   12 months      
Amortization period of value of the tenant relationships   36 months      
Short term finance for real estate properties   40,000,000      
Closing costs associated with financing   126,000 405,000    
Borrowings     38,500,000    
Interest rate (as a percent)     4.67%    
Term of debt     15 years    
Amortization period of debt     30 years    
Period for which the entity is required to make interest only payments     2 years    
Proceeds from like kind exchange   $ 2,100,000