INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details 4) - Jun. 30, 2015 - USD ($)	Total
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	$ 504,000
06/30/2017	1,629,000
06/30/2018	1,821,000
06/30/2019	7,900,000
06/30/2020	4,330,000
Thereafter	179,822,000
Total	$ 196,006,000
Weighted average interest rate (as a percent)	5.27%
Effective interest rate (as a percent)	5.36%
Hamilton Essex 81
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	$ 149,344
06/30/2017	7,893,152
Total	8,042,496
Hamilton Essex 81 Development
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	1,961,172
Total	1,961,172
345 Franklin
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2017	177,340
06/30/2018	187,209
06/30/2019	194,584
06/30/2020	202,250
Thereafter	9,238,617
Total	10,000,000
Hamilton 1025
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	74,077
06/30/2017	4,695,747
Total	4,769,824
Hamilton Bay Apartments
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	77,754
06/30/2017	4,460,851
Total	4,538,605
Hamilton Minuteman
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	81,127
06/30/2017	5,171,717
Total	5,252,844
Hamilton on Main Apts
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
Thereafter	16,900,000
Total	16,900,000
Dexter Park
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	1,459,214
06/30/2017	1,542,599
06/30/2018	1,630,749
06/30/2019	1,723,938
06/30/2020	79,218,160
Total	85,574,660
Total
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES
06/30/2016	3,802,688
06/30/2017	23,941,406
06/30/2018	1,817,958
06/30/2019	1,918,522
06/30/2020	79,420,410
Thereafter	26,138,617
Total	$ 137,039,601

Effective interest rate for the funds borrowed under the debt agreement considering interest compounding and original issue discount or premium.

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