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CONSOLIDATED BALANCE SHEETS - USD ($) | Jun. 30, 2016 | Dec. 31, 2015
--- | --- | ---
ASSETS |  |
Rental Properties | $ 173,679,492 | $ 176,697,314
Cash and Cash Equivalents | 7,890,008 | 10,298,186
Rents Receivable | 499,158 | 433,744
Insurance Recovery Receivable | 168,131 | 345,645
Real Estate Tax Escrows | 391,444 | 370,981
Prepaid Expenses and Other Assets | 3,863,899 | 4,762,535
Investments in Unconsolidated Joint Ventures | 7,079,962 | 7,819,162
Total Assets | 193,572,094 | 200,727,567
LIABILITIES AND PARTNERS' CAPITAL |  |
Mortgage Notes Payable | 214,130,912 | 194,500,820
Notes Payable |  | 25,000,000
Distribution and Loss in Excess of Investment in Unconsolidated Joint Venture | 2,468,307 | 2,288,090
Accounts Payable and Accrued Expenses | 2,699,964 | 4,640,767
Advance Rental Payments and Security Deposits | 5,440,743 | 5,108,843
Total Liabilities | 224,739,926 | 231,538,520
Partners' Capital 124,923 and 125,374 units outstanding in 2016 and 2015 respectively | (31,167,832) | (30,810,953)
Total Liabilities and Partners' Capital | $ 193,572,094 | $ 200,727,567

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