XML 34 R53.htm IDEA: XBRL DOCUMENT
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SUBSEQUENT EVENTS (Details) (USD $) | 6 Months Ended | 82 Months Ended |  | 6 Months Ended | 82 Months Ended | 6 Months Ended | 82 Months Ended | 1 Months Ended | 0 Months Ended |  | 0 Months Ended | 1 Months Ended
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Jun. 30, 2014 | Jun. 30, 2013 | Jun. 30, 2014 | Jun. 30, 2014 Mortgage loan Minimum | Jun. 30, 2014 Mortgage loan Maximum | Jun. 30, 2014 Class B | Jun. 30, 2013 Class B | Jun. 30, 2014 Class B | Jun. 30, 2014 General Partnership units | Jun. 30, 2013 General Partnership units | Jun. 30, 2014 General Partnership units | Aug. 05, 2014 Subsequent events | Jul. 31, 2014 Subsequent events Revolving line of credit item | Aug. 05, 2014 Subsequent events Revolving line of credit | Jul. 31, 2014 Subsequent events Revolving line of credit Minimum | Jul. 31, 2014 Subsequent events Revolving line of credit Maximum | Jul. 31, 2014 Subsequent events Revolving line of credit Base rate | Jul. 31, 2014 Subsequent events Revolving line of credit Base rate Minimum | Jul. 31, 2014 Subsequent events Revolving line of credit Base rate Maximum | Jul. 31, 2014 Subsequent events Revolving line of credit Prime rate | Jul. 31, 2014 Subsequent events Revolving line of credit Federal Funds Rate | Jul. 31, 2014 Subsequent events Revolving line of credit London Interbank Offered Rate LIBOR | Jul. 11, 2014 Subsequent events Mortgage loan Westgate Apartments Burlington, LLC | Aug. 05, 2014 Subsequent events Class B | Aug. 05, 2014 Subsequent events General Partnership units
Subsequent events |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of depository receipts | 15,931 |  | 1,258,822 |  |  |  |  | 2,229 |  |  |  | 5,049 |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase price of depository receipts | $ 46.26 |  | $ 25.13 |  |  |  |  |  |  |  |  | $ 48.81 |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase price of units | $ 1,387.80 |  |  |  |  |  |  | $ 700.12 |  |  | $ 700.12 | $ 1,464.30 |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of depository receipts | $ 757,246 |  |  |  |  |  |  |  |  |  |  | $ 253,274 |  |  |  |  |  |  |  |  |  |  |  |  |
Repurchase of units | 664 | 404 |  |  |  | 126 |  |  | 7 |  | 117 |  |  |  |  |  |  |  |  |  |  |  |  | 40.0 | 2.1
Total cost of repurchase | 941,477 | 399,487 | 33,422,000 |  |  | 175,019 | 74,335 |  | 9,212 | 3,912 |  |  |  |  |  |  |  |  |  |  |  |  |  | 58,532 | 3,081
Amount of new loan |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,500,000 |  |
Interest rate (as a percent) |  |  |  | 3.76% | 5.97% |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 4.31% |  |
Period of interest only payments on loans |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 10 years |  |
Amount of loan proceeds utilized for pay off the existing mortgage |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2,010,000 |  |
Net proceed from the loan - cash reserves |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 435,000 |  |
Amount of refinancing costs |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 90,000 |  |
Maximum borrowings |  |  |  |  |  |  |  |  |  |  |  |  | 25,000,000 |  |  |  |  |  |  |  |  |  |  |  |
Term period |  |  |  |  |  |  |  |  |  |  |  |  | 3 years |  |  |  |  |  |  |  |  |  |  |  |
Reference rate used in calculation of Base Rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Prime | Federal Funds | one month LIBOR |  |  |
Basis of effective interest rate used in calculation of Base Rate (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.50% | 1.00% |  |  |
Variable interest rate |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | Base |  |  |  |  |  |  |  |
Applicable margin of variable interest rate (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 2.50% | 3.50% |  |  |  |  |  |
Funds drawn by the company |  |  |  |  |  |  |  |  |  |  |  |  |  | $ 0 |  |  |  |  |  |  |  |  |  |  |
Number of properties in which borrowing amount collateralized |  |  |  |  |  |  |  |  |  |  |  |  | 23 |  |  |  |  |  |  |  |  |  |  |  |
Pledged interests rate of the Partnership's ownership interest (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 49.00% | 100.00% |  |  |  |  |  |  |  |  |
Commitment fee for unused amount (as a percent) |  |  |  |  |  |  |  |  |  |  |  |  |  |  | 0.15% | 0.20% |  |  |  |  |  |  |  |  |

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