INVESTMENT IN REAL ESTATE AND MORTGAGE AND OTHER NOTES PAYABLE (Tables) (Apartment Building [Member])

3 Months Ended

Sep. 30, 2014

Apartment Building [Member]

Real Estate Properties [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Investment in real estate consisted of the following: 

As of	September 30, 2014		June 30, 2014
Land	$	25,781,000	$	25,781,000
Buildings, improvements and equipment		74,250,000		74,039,000
Accumulated depreciation		(36,658,000)		(36,123,000)
Investment in real estate, net	$	63,373,000	$	63,697,000