XML 45 R35.htm IDEA: XBRL DOCUMENT
v3.8.0.1

RELATED PARTY TRANSACTIONS (Details) | 3 Months Ended | 6 Months Ended | 9 Months Ended | 18 Months Ended
--- | --- | --- | --- | ---
Sep. 30, 2017 USD ($) | Sep. 30, 2016 USD ($) | Jun. 30, 2017 USD ($) | Jun. 30, 2016 USD ($) | Sep. 30, 2017 USD ($) item | Sep. 30, 2016 USD ($) | Jun. 30, 2017 USD ($)
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Management fee as percentage of gross receipts rental revenue |  |  |  |  | 4.00% |  |
Management fee as a percentage of gross receipts rental revenue of Linewt, LLC |  |  |  |  | 3.00% |  |
Management fees of related party |  |  |  |  | $ 1,600,000 | $ 1,513,000 |
Management fee | $ 544,399 | $ 511,730 |  |  | 1,599,647 | 1,513,226 |
Repairs and maintenance | 2,678,780 | 2,364,364 |  |  | 6,187,673 | 6,185,250 |
Administrative expense | $ 525,125 | $ 524,293 |  |  | $ 1,513,869 | 1,477,708 |
Number of limited partnerships and limited liability companies in which the entity has invested | item |  |  |  |  | 9 |  |
Dexter Park |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Management fee as percentage of gross receipts rental revenue |  |  |  |  | 2.00% |  |
President of Management Company |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Quarterly fee for asset management consulting services |  |  | $ 56,250 | $ 56,250 |  |  |
Harold Brown | Minimum |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Ownership interest (as a percent) | 43.20% |  |  |  | 43.20% |  |
Harold Brown | Maximum |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Ownership interest (as a percent) | 56.00% |  |  |  | 56.00% |  |
General Partner or Management Company [Member] |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Repairs and maintenance |  |  |  |  | $ 199,000 |  |
Administrative expense |  |  |  |  | 272,000 |  |
Commercial brokerage fees |  |  |  |  | 1,000 |  |
Expenses for construction, architectural services and supervision of capital projects |  |  |  |  | 137,000 |  |
Costs related to professional services |  |  |  |  | 609,000 | 772,000 |
Management Company [Member] |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Reimbursement to related party for payroll transfers |  |  |  |  | $ 2,508,000 | $ 2,212,000 |
Employer contributions in 401K plan |  |  | 0 | 0 |  |  |
Number of accounting staff of related party providing bookkeeping and accounting functions | item |  |  |  |  | 14 |  |
Fees for accounting and bookkeeping services |  |  | $ 93,750 | $ 93,750 |  |  |
Number of employees having ownership interest in the investment properties | item |  |  |  |  | 6 |  |
Fees for accounting and bookkeeping services per year |  |  |  |  |  |  | $ 125,000
Partially owned properties |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Management fee as percentage of gross receipts rental revenue |  |  |  |  | 4.00% |  |
Management fee |  |  |  |  | $ 510,000 |  |
Repairs and maintenance |  |  |  |  | 34,000 |  |
Administrative expense |  |  |  |  | 27,000 |  |
Construction, architectural services and supervision of capital projects |  |  |  |  | 554,000 |  |
Amount paid to related party |  |  |  |  | $ 1,125,000 |  |
Residential and mixed-use properties | Partially owned properties | Minimum |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Ownership interest (as a percent) | 40.00% |  |  |  | 40.00% |  |
Residential and mixed-use properties | Partially owned properties | Maximum |  |  |  |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |  |  |  |
Ownership interest (as a percent) | 50.00% |  |  |  | 50.00% |  |

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