INVESTMENT IN REAL ESTATE, NET (Details) (USD $)	Dec. 31, 2013	Jun. 30, 2013
Property, Plant and Equipment [Line Items]
Investment in real estate, net	$ 40,800,000	$ 41,728,000
Apartment Building [Member]
Property, Plant and Equipment [Line Items]
Land	25,781,000	25,781,000
Buildings, improvements and equipment	73,845,000	73,453,000
Accumulated depreciation	(35,045,000)	(33,972,000)
Investment in real estate, net	$ 64,581,000	$ 65,262,000