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Summary of real estate owned as of the end of the year (Details) (USD $)
Dec. 31, 2012
Dec. 31, 2011
Apartments. $ 609,093 $ 610,072
Apartments under construction 0 0
Commercial properties 216,343 214,111
Land held for development 153,345 173,996
Real estate held for sale 22,735 80,245
Real estate subject to sales contract 62,118 67,810
Total real estate, at cost, less impairment 1,063,634 1,146,234
Less accumulated deprecation. (166,684) (157,895)
Total real estate, net of depreciation $ 896,950 $ 988,339