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REAL ESTATE, NET (Details) (USD $)
 3 Months Ended 3 Months Ended 14 Months Ended 3 Months Ended 3 Months Ended 3 Months Ended
Mar. 31, 2014
property
Mar. 31, 2013
Dec. 31, 2013
Mar. 31, 2013
Acquisitions
Mar. 31, 2014
Acquisitions
Mar. 31, 2013
Consolidated Pro Forma
Mar. 31, 2013
Office Building in Oakland County, MI
item
property
Feb. 01, 2013
Office Building in Oakland County, MI
Mar. 31, 2014
In-place leases and other intangibles
Dec. 31, 2013
In-place leases and other intangibles
Mar. 31, 2014
In-place leases intangibles
Mar. 31, 2014
Land
Dec. 31, 2013
Land
Mar. 31, 2014
Building
Dec. 31, 2013
Building
Mar. 31, 2013
Retail property
property
Jan. 28, 2013
Retail property
Mar. 31, 2014
Residential condominium in Veer Towers
unit
Mar. 31, 2014
Residential condominium in Terrazas
unit
Mar. 31, 2013
Residential condominium
unit
REAL ESTATE, NET                                        
Proceeds from sale of real estate                                   $ 18,900,643 $ 1,192,209 $ 8,045,319
Number of properties purchased 0           1                 1        
Number of stories             13                          
Gain on sale 6,692,907 3,697,548                               6,413,382 287,834 3,697,548
Number of units sold                                   44 4 19
Real estate purchased 216,428 22,990,741         18,000,000                 4,990,742        
Percentage of real estate property leased and occupied               83.80%                 100.00%      
Unaudited pro forma information                                        
Operating lease income 13,213,374 6,484,040   433,880 466,046 6,917,920 14,500                 56,508       1,452,976
Net income 18,400,822 88,049,972   190,352 269,357 88,240,324                            
Net (income) loss attributable to noncontrolling interest   (27,244)   (16,690)   (43,934)                            
Net income attributable to preferred and common unit holders 12,628,031 88,022,728   173,663   88,196,391                            
Number of properties disposed   0                                    
Real estate 636,446,052   649,819,795           83,909,105 83,909,105   91,609,368 91,609,368 460,927,579 474,301,322          
Less: Accumulated depreciation and amortization (32,693,319)   (25,600,780)                                  
Real estate, net 603,752,733   624,219,015                                  
Depreciation and amortization expense                                        
Depreciation 4,842,086 2,388,871                                    
Amortization expense 2,448,149 597,885                                    
Total real estate deprecation and amortization 7,290,235 2,986,756                                    
Depreciation on corporate fixed assets 137,023 136,827                                    
Gross intangible assets 83,909,105   83,909,105                                  
Accumulated amortization 12,278,154   9,675,249                                  
Net intangible assets 71,630,951   74,233,856               66,733,676                  
Unamortized favorable/unfavorable lease intangibles 4,897,276                                      
Adjustment against rental revenue for favorable/unfavorable leases 154,756 54,343                                    
Expected amortization expense related to the acquired in-place lease intangibles, for property owned                                        
2014 (last 9 months)                     7,808,714                  
2015                     10,411,619                  
2016                     10,288,686                  
2017                     5,399,510                  
2018                     3,938,820                  
Thereafter                     28,886,327                  
Net intangible assets 71,630,951   74,233,856               66,733,676                  
Future minimum rental income under leases                                        
2014 (last 9 months) 32,912,425                                      
2015 41,011,099                                      
2016 35,572,690                                      
2017 32,504,605                                      
2018 30,157,074                                      
Thereafter 291,112,205                                      
Total $ 463,270,098