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FAIR VALUE MEASUREMENTS (Details) - USD ($) | Jun. 30, 2015 | Dec. 31, 2014
--- | --- | ---
Mortgage Notes Payable |  |
Carrying Amount | $ 196,005,736 | $ 196,071,540
Wholly owned properties |  |
Mortgage Notes Payable |  |
Carrying Amount | 196,005,736 | 196,071,540
Estimated Fair Value | 209,943,632 | 210,691,170
Partially owned properties |  |
Mortgage Notes Payable |  |
Carrying Amount | 137,039,601 | 137,910,870
Estimated Fair Value | $ 146,494,182 | $ 147,843,221

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