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v3.25.2

RELATED PARTY TRANSACTIONS (Details) | 3 Months Ended | 6 Months Ended
--- | --- | ---
Jun. 30, 2025 USD ($) item | Jun. 30, 2024 USD ($) | Jun. 30, 2025 USD ($) item | Jun. 30, 2024 USD ($)
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee | $ 834,431 | $ 782,856 | $ 1,652,840 | $ 1,571,463
Repairs and maintenance | 3,481,815 | 3,500,467 | 6,340,084 | 6,348,424
Administrative expense | $ 667,913 | $ 651,978 | 1,289,179 | $ 1,413,997
Employer contributions in 401K plan |  |  | $ 32,000 |
Number of limited partnerships and limited liability companies in which the entity has invested | item |  |  | 7 |
Brown Family | Minimum |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 47.60% |  | 47.60% |
Brown Family | Maximum |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 59.00% |  | 59.00% |
Brown Family | Related party | Minimum |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 47.60% |  | 47.60% |
Brown Family | Related party | Maximum |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 59.00% |  | 59.00% |
NERA 40% |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 40.00% | 40.00% | 40.00% | 40.00%
NERA 50% |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Ownership interest (as a percent) | 50.00% | 50.00% | 50.00% | 50.00%
Majority of Partnership Properties | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee as percentage of gross receipts rental revenue |  |  | 4.00% |
Management fee (as a percent) |  |  | 4.00% |
Linewt | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee as percentage of gross receipts rental revenue |  |  | 3.00% |
General Partner or Management Company | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Costs related to professional services |  |  | $ 417,000 | $ 568,000
Repairs and maintenance |  |  | 78,000 |
Administrative expense |  |  | 110,000 |
Expenses for construction, architectural services and supervision of capital projects |  |  | 225,000 |
Brokerage Fees |  |  | 4,000 |
Hamilton Company/Management Company | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee |  |  | 1,653,000 | 1,571,000
Costs related to professional services | $ 62,500 | $ 125,000 |  |
Amount received for management fees |  |  | 444,000 |
Payroll and related expenses |  |  | 2,255,000 | 2,086,000
Employer contributions in 401K plan |  |  | $ 32,000 | 32,000
Number of accounting staff providing bookkeeping and accounting functions | item | 14 |  | 14 |
Hamilton Company/Management Company | Management fee | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Amount received for management fees |  |  | $ 385,000 |
Hamilton Company/Management Company | Construction, architectural services and supervision of capital projects | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Amount received for management fees |  |  | 35,000 |
Hamilton Company/Management Company | Repairs and maintenance | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Amount received for management fees |  |  | 21,000 |
Hamilton Company/Management Company | Legal expense | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Amount received for management fees |  |  | $ 3,000 |
Dexter Park | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee (as a percent) |  |  | 2.00% |
Sally Michael | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Legal fees |  |  | $ 275,000 | $ 70,000
David Reier | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Legal fees |  |  | $ 6,000 |
Current and previous management company employees | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Number of employees having ownership interest in the investment properties | item |  |  | 5 |
Hill Estates NERA LLC | Related party |  |  |  |
RELATED PARTY TRANSACTIONS |  |  |  |
Management fee (as a percent) |  |  | 3.00% |

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