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ACQUISITION AND DISPOSITION OF REAL ESTATE AND DISCONTINUED OPERATIONS Discontinued Operations Results of Operations (Details) (USD $)
3 Months Ended 6 Months Ended 1 Months Ended
Jun. 30, 2013
Jun. 30, 2012
Jun. 30, 2013
Jun. 30, 2012
Dec. 31, 2012
May 31, 2013
Fund II
Pelham Manor [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]            
Proceeds from sale of real estate           $ 11,900,000
ASSETS            
Net real estate 11,850,000   11,850,000   19,400,000  
Rents receivable, net 876,000   876,000   917,000  
Deferred charges, net 390,000   390,000   612,000  
Prepaid expenses and other assets 190,000   190,000   1,132,000  
Total assets of discontinued operations 13,306,000   13,306,000   22,061,000  
LIABILITIES            
Mortgage notes payable 9,149,000   9,149,000   9,208,000  
Accounts payable and accrued expenses 1,794,000   1,794,000   3,125,000  
Other liabilities 597,000   597,000   765,000  
Total liabilities of discontinued operations 11,540,000   11,540,000   13,098,000  
STATEMENTS OF OPERATIONS            
Total revenues 906,000 9,943,000 2,075,000 19,656,000    
Total expenses 640,000 6,611,000 1,412,000 13,997,000    
Operating income 266,000 3,332,000 663,000 5,659,000    
Gain on sale of property 4,191,000 2,668,000 4,191,000 2,668,000   4,200,000
Income from discontinued operations 4,457,000 6,000,000 4,854,000 8,327,000    
(Income) from discontinued operations, attributable to noncontrolling interests (3,911,000) (5,006,000) (4,259,000) (6,811,000)    
Income from discontinued operations, attributable to Common Shareholders $ 546,000 $ 994,000 $ 595,000 $ 1,516,000