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CONSOLIDATED BALANCE SHEETS - USD ($) | Sep. 30, 2015 | Dec. 31, 2014
--- | --- | ---
ASSETS |  |
Rental Properties | $ 177,501,683 | $ 149,116,084
Cash and Cash Equivalents | 9,156,753 | 14,015,898
Rents Receivable | 510,026 | 474,225
Insurance Recovery Receivable | 412,502 |
Real Estate Tax Escrows | 353,648 | 340,341
Prepaid Expenses and Other Assets | 4,593,176 | 3,287,005
Investments in Unconsolidated Joint Ventures | 8,299,289 | 8,807,868
Financing Fees | 1,570,797 | 1,735,652
Total Assets | 202,397,874 | 177,777,073
LIABILITIES AND PARTNERS' CAPITAL |  |
Mortgage Notes Payable | 195,972,822 | 196,071,540
Note Payable | 25,000,000 |
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture | 2,212,081 | 1,425,369
Accounts Payable and Accrued Expenses | 4,626,872 | 3,099,117
Advance Rental Payments and Security Deposits | 4,735,554 | 4,548,729
Total Liabilities | 232,547,329 | 205,144,755
Partners' Capital 125,976 and 127,653 units outstanding in 2015 and 2014 respectively | (30,149,455) | (27,367,682)
Total Liabilities and Partners' Capital | $ 202,397,874 | $ 177,777,073

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