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CONSOLIDATED BALANCE SHEETS (USD $) | Sep. 30, 2014 | Dec. 31, 2013
--- | --- | ---
ASSETS |  |
Rental Properties | $ 149,759,026 | $ 152,904,661
Cash and Cash Equivalents | 13,744,651 | 14,013,380
Rents Receivable | 568,560 | 496,149
Real Estate Tax Escrows | 304,398 | 375,560
Prepaid Expenses and Other Assets | 3,364,841 | 3,895,189
Investments in Unconsolidated Joint Ventures | 9,343,093 | 12,025,142
Financing Fees | 1,775,187 | 1,635,076
Total Assets | 178,859,756 | 185,345,157
LIABILITIES AND PARTNERS' CAPITAL |  |
Mortgage Notes Payable | 196,103,164 | 198,520,478
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture | 1,375,332 | 1,252,346
Accounts Payable and Accrued Expenses | 2,908,670 | 3,178,495
Advance Rental Payments and Security Deposits | 4,350,638 | 4,242,401
Total Liabilities | 204,737,804 | 207,193,720
Commitments and Contingent Liabilities (Notes 3 and 9) |  |
Partners' Capital 128,407 and 129,487 units outstanding in 2013 and 2012 respectively | (25,878,048) | (21,848,563)
Total Liabilities and Partners' Capital | $ 178,859,756 | $ 185,345,157

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