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MORTGAGE NOTES PAYABLE (Details) (USD $) |  | 12 Months Ended | 1 Months Ended |  | 1 Months Ended |  | 12 Months Ended
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Dec. 31, 2012 | Dec. 31, 2012 Mortgages payable | Jul. 31, 2011 Mortgages payable Battle Green Apartments | Jul. 27, 2011 Mortgages payable Battle Green Apartments | Jun. 30, 2011 Mortgages payable Battle Green Apartments Harold Brown | Jun. 02, 2011 Mortgages payable Battle Green Apartments Harold Brown | Dec. 31, 2012 Mortgages payable Boylston Street, Westgate Woburn, School Street and Cypress Street
MORTGAGE NOTES PAYABLE |  |  |  |  |  |  |
Interest rate (as a percent) |  |  |  | 4.95% |  | 6.00% |
Amount of monthly installments including principal |  | $ 742,000 |  |  |  |  |
Effective interest rate (as a percent) | 5.65% | 5.63% |  | 5.07% |  |  |
Weighted average interest rate (as a percent) |  | 5.53% |  |  |  |  |
Annual maturities of mortgage debt |  |  |  |  |  |  |
2013-current maturities | 41,275,000 |  |  |  |  |  |
2014 | 14,669,000 |  |  |  |  |  |
2015 | 2,184,000 |  |  |  |  |  |
2016 | 194,000 |  |  |  |  |  |
2017 | 205,000 |  |  |  |  |  |
Thereafter | 79,529,000 |  |  |  |  |  |
Total | 138,056,000 |  |  |  |  |  |
Additional disclosures related to mortgages |  |  |  |  |  |  |
Borrowings |  |  | 5,000,000 |  | 3,998,573 |  |
Amortization period of debt |  |  | 30 years |  |  |  |
Deferred financing cost associated with mortgage |  |  |  | 100,000 |  |  | 353,000
Total amount expected to be refinanced |  |  |  |  |  |  | 47,000,000
Expected prepayment penalties upon refinancing |  |  |  |  |  |  | $ 250,000

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