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CONSOLIDATED BALANCE SHEETS (USD $)
Jun. 30, 2014
Dec. 31, 2013
ASSETS    
Rental Properties $ 150,029,401 $ 152,904,661
Cash and Cash Equivalents 12,613,346 14,013,380
Rents Receivable 556,853 496,149
Real Estate Tax Escrows 294,366 375,560
Prepaid Expenses and Other Assets 3,575,816 3,895,189
Investments in Unconsolidated Joint Ventures 10,999,842 12,025,142
Financing Fees 1,636,903 1,635,076
Total Assets 179,706,527 185,345,157
LIABILITIES AND PARTNERS' CAPITAL    
Mortgage Notes Payable 195,634,372 198,520,478
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture 1,347,680 1,252,346
Accounts Payable and Accrued Expenses 2,622,206 3,178,495
Advance Rental Payments and Security Deposits 4,575,466 4,242,401
Total Liabilities 204,179,724 207,193,720
Commitments and Contingent Liabilities (Notes 3 and 9)      
Partners' Capital 128,823 and 129,487 units outstanding in 2014 and 2013 respectively (24,473,197) (21,848,563)
Total Liabilities and Partners' Capital $ 179,706,527 $ 185,345,157