Consolidated Balance Sheets - USD ($)	Dec. 31, 2015	Dec. 31, 2014
Assets
Cash and cash equivalents	$ 17,035,782	$ 49,157,571
Restricted cash	8,950,374	11,141,496
Interest receivable	5,220,859	4,121,486
Available-for-sale Securities, Fair Value Disclosure Held in Trust	536,316,481	378,423,092
Available-for-sale Securities	47,366,656	70,601,045
Public housing capital fund trusts, at fair value (Note 6)	60,707,290	61,263,123
Mortgage-backed securities, at fair value (Note 7)	14,775,309	14,841,558
Real estate assets: (Note 8)
Land and improvements	17,887,505	13,753,493
Buildings and improvements	139,153,699	110,706,173
Real estate assets before accumulated depreciation	157,041,204	124,459,666
Accumulated depreciation	(16,023,814)	(14,108,154)
Net real estate assets	141,017,390	110,351,512
Other assets (Note 9)	35,720,342	26,719,088
Assets held for sale (Note 10)	0	13,204,015
Total Assets	867,110,483	739,823,986
Liabilities
Accounts payable, accrued expenses and other liabilities	5,667,948	4,123,346
Distribution payable	8,759,343	7,617,390
Lines of credit (Note 11)	18,922,261
Debt financing (Note 12)	451,496,716	341,619,463
Mortgages payable (Note 13)	67,822,313	76,032,140
Derivative swap, at fair value (Note 16)	1,317,075
Liabilities held for sale (Note 10)		503,743
Total Liabilities	553,985,656	429,896,082
Commitments and Contingencies (Note 18)
Partnersʼ Capital
General Partner (Note 3)	399,077	578,238
Beneficial Unit Certificate holders	312,720,264	330,457,117
Unallocated deficit of Consolidated VIEs	0	(21,091,456)
Total Partnersʼ Capital	313,119,341	309,943,899
Noncontrolling interest (Note 8)	5,486	(15,995)
Total Capital	313,124,827	309,927,904
Total Liabilities and Partnersʼ Capital	$ 867,110,483	$ 739,823,986

This element represents the portion of the balance sheet assertion valued at fair value by the entity, which is held in a mortgage-backed security, whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may by used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

No definition available.