XML 46 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
CONSOLIDATED STATEMENTS OF INCOME (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Revenues    
Rental income $ 8,924,007 $ 8,640,863
Laundry and sundry income 95,686 92,139
Total Revenues 9,019,693 8,733,002
Expenses    
Administrative 452,619 485,493
Depreciation and amortization 1,454,131 1,495,048
Management fee 369,252 347,181
Operating 1,432,175 1,225,750
Renting 29,851 46,383
Repairs and maintenance 1,081,279 1,052,344
Taxes and insurance 1,160,930 1,130,192
Total Expenses 5,980,237 5,782,391
Income Before Other Income and Discontinued Operations 3,039,456 2,950,611
Other Income (loss)    
Interest income 364 638
Interest expense (1,841,069) (1,934,463)
(Loss) from investments in unconsolidated joint ventures (316,857) (403,117)
Total Other Income (loss) (2,157,562) (2,336,942)
Income From Continuing Operations 881,894 613,669
Discontinued Operations    
Income from discontinued operations 19,731 13,284
Net Income $ 901,625 $ 626,953
Income per Unit    
Income before discontinued operations (in dollars per unit) $ 6.77 $ 4.67
Income from discontinued operations (in dollars per unit) $ 0.15 $ 0.10
Net Income per Unit (in dollars per unit) $ 6.92 $ 4.77
Weighted Average Number of Units Outstanding (in units) 130,244 131,484