INVESTMENT IN REAL ESTATE, NET (Tables)

9 Months Ended

Mar. 31, 2013

Real Estate and Accumulated Depreciation Disclosure [Abstract]

Schedule of Real Estate Properties [Table Text Block]

Investment in real estate consisted of the following:

As of	March 31, 2013		June 30, 2012
Land	$	25,781,000	$	25,781,000
Buildings, improvements and equipment		73,167,000		71,119,000
Accumulated depreciation		(33,435,000)		(31,849,000)
Investment in real estate, net	$	65,513,000	$	65,051,000