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CONSOLIDATED STATEMENTS OF INCOME (USD $)
3 Months Ended9 Months Ended
Sep. 30, 2011
Sep. 30, 2010
Sep. 30, 2011
Sep. 30, 2010
Revenues    
Rental income$ 8,543,908$ 7,902,310$ 24,957,004$ 23,767,164
Laundry and sundry income104,618100,396318,059328,996
Total Revenues8,648,5268,002,70625,275,06324,096,160
Expenses    
Administrative411,836394,7351,237,4241,288,046
Depreciation and amortization1,603,5291,475,9364,412,1444,245,494
Management fees347,833332,5801,032,069994,654
Operating774,998771,3973,104,7222,800,054
Renting63,482201,883260,819370,358
Repairs and maintenance1,421,0841,460,9943,800,8363,657,021
Taxes and insurance1,042,4701,016,8623,103,2153,083,751
Total Expenses5,665,2325,654,38716,951,22916,439,378
Income Before Other Income and Discontinued Operations2,983,2942,348,3198,323,8347,656,782
Other Income (loss)    
Interest income8951,8983,1294,411
Interest expense(2,033,082)(2,032,278)(5,962,907)(6,044,974)
(Loss) from investment in unconsolidated joint ventures(491,128)(1,151,355)(1,443,374)(3,169,926)
Total Other Income (loss)(2,523,315)(3,181,735)(7,403,152)(9,210,489)
Income (loss) from Continuing Operations459,979(833,416)920,682(1,553,707)
Discontinued Operations    
Income (loss) from discontinue operations(2,245)51,92595,390174,811
Gain (loss) on the sale of real estate(808) 7,706,948 
Total Discontinued Operations(3,053)51,9257,802,338174,811
Net Income(Loss)$ 456,926$ (781,491)$ 8,723,020$ (1,378,896)
Income per Unit    
Income (loss) before discontinued operations (in dollars per unit)$ 3.50$ (6.33)$ 7.00$ (11.79)
Income (loss) from discontinued operations (in dollars per unit)$ (0.02)$ 0.39$ 59.34$ 1.33
Net Income (Loss) per Unit (in dollars per unit)$ 3.48$ 5.94$ 66.34$ (10.46)
Weighted Average Number of Units Outstanding (in units)131,484131,484131,484131,767