MORTGAGE LOANS	6 Months Ended
Jun. 30, 2011
Schedule of Participating Mortgage Loans [Table Text Block]	8. MORTGAGE NOTES PAYABLE The Company completed the following transactions related to mortgage loans and credit facilities during the six months ended June 30, 2011: During June 2011, the Company modified an existing $85.3 million loan collateralized by a property. The modification extended the maturity date from October 4, 2011 to September 30, 2012. The loan continues to bear interest at LIBOR plus 350 basis points subject to an interest rate floor of 5.00%. During June 2011, the Company modified an existing $9.4 million loan collateralized by a property. The modification extended the maturity date from June 29, 2012 to June 30, 2018. The loan continues to bear interest at LIBOR plus 140 basis points. During February 2011, the Company borrowed $39.0 million under the Fund III subscription line of credit. During April 2011, the Company repaid $15.1 million of the Fund III subscription line of credit. As of June 30, 2011, the total outstanding amount on this line of credit was $195.4 million. During January 2011, the Company liquidated a $9.3 million mortgage loan for $7.6 million, resulting in a $1.7 million gain on extinguishment of debt. During January 2011, the Company borrowed the remaining $2.4 million of a $34.0 million loan collateralized by a property. During January 2011, the Company amended an existing $48.0 million construction loan collateralized by a property. The amendment provided for an additional $3.0 million supplemental loan and a $7.0 million subordinate loan. The amended loan continues to bear interest at LIBOR plus 400 basis points, subject to an interest rate floor of 6.50% and matures on January 12, 2012. During the first six months of 2011, the Company drew down an additional $9.7 million on this construction loan. As of June 30, 2011, the total outstanding amount on this loan was $49.9 million.

MORTGAGE LOANS

6 Months Ended

Jun. 30, 2011

Schedule of Participating Mortgage Loans [Table Text Block]

8. MORTGAGE NOTES PAYABLE

The Company completed the following transactions related to mortgage loans and credit facilities during the six months ended June 30, 2011:

During June 2011, the Company modified an existing $85.3 million loan collateralized by a property. The modification extended the maturity date from October 4, 2011 to September 30, 2012. The loan continues to bear interest at LIBOR plus 350 basis points subject to an interest rate floor of 5.00%.

During June 2011, the Company modified an existing $9.4 million loan collateralized by a property. The modification extended the maturity date from June 29, 2012 to June 30, 2018. The loan continues to bear interest at LIBOR plus 140 basis points.

During February 2011, the Company borrowed $39.0 million under the Fund III subscription line of credit. During April 2011, the Company repaid $15.1 million of the Fund III subscription line of credit. As of June 30, 2011, the total outstanding amount on this line of credit was $195.4 million.

During January 2011, the Company liquidated a $9.3 million mortgage loan for $7.6 million, resulting in a $1.7 million gain on extinguishment of debt.

During January 2011, the Company borrowed the remaining $2.4 million of a $34.0 million loan collateralized by a property.

During January 2011, the Company amended an existing $48.0 million construction loan collateralized by a property. The amendment provided for an additional $3.0 million supplemental loan and a $7.0 million subordinate loan. The amended loan continues to bear interest at LIBOR plus 400 basis points, subject to an interest rate floor of 6.50% and matures on January 12, 2012. During the first six months of 2011, the Company drew down an additional $9.7 million on this construction loan. As of June 30, 2011, the total outstanding amount on this loan was $49.9 million.