FAIR VALUE DISCLOSURES (Tables)

9 Months Ended

Sep. 30, 2017

Fair Value Disclosures [Abstract]

Schedule of Carrying Values and Estimated Fair Values of Debt Instruments [Table Text Block]

The following were the face value, carrying amount and fair value of the Company’s mortgage notes payable as of September 30, 2017 and December 31, 2016:

September 30, 2017						December 31, 2016
		Carrying						Carrying
Face value		value		Fair value		Face Value		Value		Fair Value
$	43,952,534	$	42,705,968	$	44,152,390	$	7,266,145	$	7,113,701	$	7,266,145

Fair Value Measurements, Recurring and Nonrecurring [Table Text Block]

During the nine months ended September 30, 2017, the Company measured the following assets and liabilities at fair value (in thousands):

			Quoted Prices in
			Active Markets for		Significant Other		Significant Unobservable
			Identical Assets		Observable Inputs		Inputs
Recurring Basis	Total		(Level 1)		(Level 2)		(Level 3)
Interest rate swap liabilities	$	100,006	$	-	$	100,006	$	-