NOTES PAYABLE (Details) $ in Thousands	Dec. 31, 2015 USD ($)
Notes Payable	$ 796,846
Accrued Interest	2,593
Total Debt	799,439
Unamortized deferred borrowing costs	(20,005)
Apartments [Member]
Notes Payable	507,498
Accrued Interest	1,499
Total Debt	508,997
Apartment Under Construction [Member]
Notes Payable	11,139
Total Debt	11,139
Commercial [Member]
Notes Payable	109,269
Accrued Interest	509
Total Debt	109,778
Land [Member]
Notes Payable	32,818
Accrued Interest	116
Total Debt	32,934
Real Estate Subject To Sales Contract [Member]
Notes Payable	5,953
Accrued Interest	469
Total Debt	6,422
Mezzanine Financing [Member]
Notes Payable	122,900
Total Debt	122,900
Other [Member]
Notes Payable	7,269
Total Debt	7,269
Total Notes Payable [Member]
Notes Payable	796,846
Accrued Interest	2,593
Total Debt	$ 799,439