INVESTMENT IN REAL ESTATE, NET (Tables)

12 Months Ended

Jun. 30, 2015

Apartment Building [Member]

Real Estate Properties [Line Items]

Schedule of Real Estate Properties [Table Text Block]

Investment in real estate included the following:

As of June 30,	2015		2014
Land	$	23,453,000	$	25,781,000
Buildings, improvements and equipment		64,828,000		74,039,000
Accumulated depreciation		(32,513,000)		(36,123,000)
	$	55,768,000	$	63,697,000