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MORTGAGE NOTES PAYABLE AND LINE OF CREDIT (Mortgages Payable) (Details) - USD ($) | 3 Months Ended |
--- | --- | ---
Mar. 31, 2016 | Dec. 31, 2015
Annual maturities of mortgage debt |  |
2016-current maturities | $ 1,437,000 |
2017 | 1,799,000 |
2018 | 7,878,000 |
2019 | 4,324,000 |
2020 | 2,057,000 |
Thereafter | 198,383,000 |
Total | 215,878,000 |
Less: unamortized deferred financing costs | (1,567,000) |
Secured Debt | 214,311,243 | $ 194,500,820
Mortgages payable |  |
MORTGAGE NOTES PAYABLE |  |
Amount of monthly installments including principal | $ 850,000 |
Weighted average interest rate (as a percent) | 4.59% |
Effective interest rate (as a percent) | 4.68% |
Mortgages payable | Minimum |  |
MORTGAGE NOTES PAYABLE |  |
Interest rate (as a percent) | 2.45% |
Mortgages payable | Maximum |  |
MORTGAGE NOTES PAYABLE |  |
Interest rate (as a percent) | 5.97% |

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