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FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 30, 2022

FAIR VALUE MEASUREMENTS

Schedule of carrying amounts and estimated fair value of debt


		September 30, 2022						December 31, 2021
		Carrying Value			Fair Value			Carrying Value			Fair Value

Assets
Cash equivalents		$	59,473,939		$	59,529,805		$	96,083,508		$	96,083,508
Treasury bills		$	73,995,586		$	74,158,935		$	—		$	—
Total Assets		$	133,469,525		$	133,688,740		$	96,083,508		$	96,083,508

Liabilities
Mortgage payable
- Partnership properties	*	$	411,475,632		$	366,891,771		$	370,481,390		$	383,244,134
- Investment properties	*	$	166,119,958		$	155,922,343		$	166,203,705		$	175,881,762
Total Liabilities		$	577,595,590		$	522,814,114		$	536,685,095		$	559,125,896

* Net of unamortized deferred financing costs