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

9 Months Ended

Mar. 31, 2015

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	March 31, 2015		June 30, 2014
Land	$	23,453,000	$	25,781,000
Buildings, improvements and equipment		64,709,000		74,039,000
Accumulated depreciation		(32,039,000)		(36,123,000)
Investment in real estate, net	$	56,123,000	$	63,697,000