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RENTAL PROPERTIES (Mill Street) (Details)
Dec. 20, 2019
USD ($)
item
Maximum  
RENTAL PROPERTIES  
Loan amount $ 35,000,000
Mill Street Gardens Residential Apartments Woburn Massachusetts  
RENTAL PROPERTIES  
Number of units | item 181
Purchase price of real estate properties $ 59,550,000
Closing costs associated with financing 237,000
Line of credit 18,000,000
Cash from reserves 10,550,000
Loan amount 31,000,000
Purchase price allocated to the value of the in-place leases 1,282,000
Purchase price allocated to the value of the tenant relationships $ 136,000
Amortization period of value of the in-place leases 12 months
Amortization period of value of the tenant relationships 36 months
Mill Street Gardens Residential Apartments Woburn Massachusetts | Initial Advance  
RENTAL PROPERTIES  
Loan amount $ 31,000,000
Interest rate (as a percent) 3.586%
Mill Street Gardens Residential Apartments Woburn Massachusetts | Subsequent Advance  
RENTAL PROPERTIES  
Loan amount $ 4,000,000
Interest rate (as a percent) 3.50%