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OPERATING SEGMENTS (Details) - USD ($) $ in Thousands | 3 Months Ended | 9 Months Ended |
--- | --- | --- | ---
Sep. 30, 2015 | Sep. 30, 2014 | Sep. 30, 2015 | Sep. 30, 2014 | Dec. 31, 2014
Segment Reporting Information [Line Items] |  |  |  |  |
Rental and other property revenues | $ 27,826 | $ 19,326 | $ 75,223 | $ 57,986 |
Property operating expenses | (14,499) | (10,766) | (37,467) | (30,677) |
Depreciation | (6,569) | (4,463) | (16,410) | (13,099) |
Interest income | 3,950 | 5,106 | 13,722 | 15,264 |
Gain on sale of income producing properties | 735 |  | 735 |  |
Gain on land sales | 1,958 | 40 | 7,861 | 634 |
Segment operating income (loss) | (1,625) | (1,702) | 7,201 | (1,169) |
Real estate assets | 825,211 |  | 825,211 |  | $ 699,763
Property Sales |  |  |  |  |
Gain on sale |  |  | 735 | 14,826 |
Commercial Properties [Member] |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Rental and other property revenues | 8,107 | 4,609 | 22,172 | 14,166 |
Property operating expenses | (4,434) | (2,890) | (12,042) | (9,206) |
Depreciation | (2,358) | (1,944) | (6,516) | (5,515) |
Mortgage and loan interest | (1,871) | (1,325) | (5,129) | (4,469) |
Segment operating income (loss) | (556) | (1,550) | (1,515) | (5,024) |
Capital expenditures | 1,404 | 486 | 7,539 | 3,476 |
Real estate assets | 161,876 | 129,361 | 161,876 | 129,361 |
Property Sales |  |  |  |  |
Sales price |  | 2,582 |  | 19,182 |
Cost of sale |  | (812) |  | (10,409) |
Gain on sale |  | 1,770 |  | 8,773 |
Apartments [Member] |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Rental and other property revenues | 19,671 | 14,704 | 52,948 | 43,779 |
Property operating expenses | (9,373) | (7,284) | (24,243) | (20,284) |
Depreciation | (4,229) | (2,537) | (9,949) | (7,656) |
Mortgage and loan interest | (6,299) | (5,334) | (15,857) | (15,512) |
Gain on sale of income producing properties | 735 |  | 735 |  |
Segment operating income (loss) | 505 | (451) | 3,634 | 327 |
Capital expenditures | (43) | 38 | 438 | 137 |
Real estate assets | 496,329 | 345,281 | 496,329 | 345,281 |
Property Sales |  |  |  |  |
Sales price | 11,129 |  | 11,129 | 23,131 |
Cost of sale | (10,394) |  | (10,394) | (17,078) |
Gain on sale | 735 |  | 735 | 6,053 |
Land [Member] |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Property operating expenses | (422) | (585) | (936) | (1,175) |
Mortgage and loan interest | (1,345) | (1,182) | (3,766) | (3,725) |
Gain on land sales | 1,958 | 40 | 7,861 | 634 |
Segment operating income (loss) | 191 | (1,727) | 3,159 | (4,266) |
Capital expenditures | 1,461 | 1,435 | 2,772 | 1,586 |
Real estate assets | 163,867 | 165,144 | 163,867 | 165,144 |
Property Sales |  |  |  |  |
Sales price | 2,851 | 4,269 | 11,987 | 4,986 |
Cost of sale | (1,854) | (4,229) | (6,863) | (4,352) |
Recognized prior deferred gain | 961 |  | 2,737 |  |
Gain on sale | 1,958 | 40 | 7,861 | 634 |
Other [Member] |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Rental and other property revenues | 48 | 13 | 103 | 41 |
Property operating expenses | (270) | (7) | (246) | (12) |
Depreciation | 18 | 18 | 55 | 72 |
Mortgage and loan interest | (5,511) | (3,104) | (11,711) | (7,571) |
Interest income | 3,950 | 5,106 | 13,722 | 15,264 |
Segment operating income (loss) | (1,765) | 2,026 | 1,923 | 7,794 |
Total Segments [Member] |  |  |  |  |
Segment Reporting Information [Line Items] |  |  |  |  |
Rental and other property revenues | 27,826 | 19,326 | 75,223 | 57,986 |
Property operating expenses | (14,499) | (10,766) | (37,467) | (30,677) |
Depreciation | (6,569) | (4,463) | (16,410) | (13,099) |
Mortgage and loan interest | (15,026) | (10,945) | (36,463) | (31,277) |
Interest income | 3,950 | 5,106 | 13,722 | 15,264 |
Gain on sale of income producing properties | 735 |  | 735 |  |
Gain on land sales | 1,958 | 40 | 7,861 | 634 |
Segment operating income (loss) | (1,625) | (1,702) | 7,201 | (1,169) |
Capital expenditures | 2,822 | 1,959 | 10,749 | 5,199 |
Real estate assets | 822,072 | 639,786 | 822,072 | 639,786 | $ 639,786
Property Sales |  |  |  |  |
Sales price | 13,980 | 6,851 | 23,116 | 47,299 |
Cost of sale | (12,248) | (5,041) | (17,257) | (31,839) |
Recognized prior deferred gain | 961 |  | 2,737 |  |
Gain on sale | $ 2,693 | $ 1,810 | $ 8,596 | $ 15,460 |

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