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CONSOLIDATED BALANCE SHEETS - USD ($) | Dec. 31, 2015 | Dec. 31, 2014
--- | --- | ---
ASSETS |  |
Rental Properties | $ 176,697,314 | $ 149,116,084
Cash and Cash Equivalents | 10,298,186 | 14,015,898
Rents Receivable | 433,744 | 474,225
Insurance Recovery Receivable | 345,645 |
Real Estate Tax Escrows | 370,981 | 340,341
Prepaid Expenses and Other Assets | 4,685,339 | 3,287,005
Investments in Unconsolidated Joint Ventures | 7,819,162 | 8,807,868
Financing Fees | 1,515,845 | 1,735,652
Total Assets | 202,166,216 | 177,777,073
LIABILITIES AND PARTNERS' CAPITAL |  |
Mortgage Notes Payable | 195,939,469 | 196,071,540
Notes Payable | 25,000,000 |
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture | 2,288,090 | 1,425,369
Accounts Payable and Accrued Expenses | 4,640,767 | 3,099,117
Advance Rental Payments and Security Deposits | 5,108,843 | 4,548,729
Total Liabilities | $ 232,977,169 | $ 205,144,755
Commitments and Contingent Liabilities (Notes 3 and 9) |  |
Partners' Capital 125,976 and 127,653 units outstanding in 2015 and 2014 respectively | $ (30,810,953) | $ (27,367,682)
Total Liabilities and Partners' Capital | $ 202,166,216 | $ 177,777,073

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