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RENTAL PROPERTIES (Details 3) - 10Q (USD $) |  |  | 0 Months Ended |  | 1 Months Ended |  | 0 Months Ended |
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Sep. 30, 2014 | May 31, 2013 | Jul. 15, 2013 Hamilton Green | Jul. 15, 2013 Hamilton Green item | May 31, 2013 Nashoba Apartments in Acton, Massachusetts | Sep. 30, 2014 Mortgages payable | Dec. 20, 2013 Mortgages payable Hamilton Green | Dec. 20, 2013 Mortgages payable Hamilton Green
RENTAL PROPERTIES |  |  |  |  |  |  |  |
Sales price of real estate properties |  |  |  |  | $ 4,300,000 |  |  |
Amount of sale proceeds transferred to Investment Property |  | 2,100,000 |  |  |  |  |  |
Gain on sale of property |  |  |  |  | 3,679,000 |  |  |
Number of units |  |  |  | 193 |  |  |  |
Purchase price of real estate properties |  |  | 62,500,000 |  |  |  |  |
Purchase price allocated to the value of the in-place leases |  |  |  | 1,656,000 |  |  |  |
Purchase price allocated to the value of the tenant relationships |  |  |  | 96,000 |  |  |  |
Amortization period of value of the in-place leases |  |  | 12 months |  |  |  |  |
Amortization period of value of the tenant relationships |  |  | 36 months |  |  |  |  |
Short term finance for real estate properties |  |  |  | 40,000,000 |  |  |  |
Proceeds from sale of discontinued operations |  |  |  | 2,100,000 |  |  |  |
Closing costs associated with financing |  |  | 38,000 |  |  |  | 346,000 |
Amount of new loan |  |  |  |  |  |  |  | 38,500,000
Interest rate (as a percent) |  |  |  |  |  |  |  | 4.67%
Term of debt |  |  |  |  |  |  | 15 years |
Period for which the entity is required to make interest only payments |  |  |  |  |  |  | 2 years |
Amortization period of debt |  |  |  |  |  |  | 30 years |
Additional capital required for refinancing |  |  |  |  |  |  | $ 1,846,000 |
Effective interest rate (as a percent) | 5.46% |  |  |  |  | 4.92% |  |

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