Debt Financing (Tables)

12 Months Ended

Dec. 31, 2012

Schedule of Securities Financing Transactions [Table Text Block]

The par value of the bonds included in this Financing facility as of December 31, 2012 and 2011 are also presented.



	Outstanding Bond Par Amounts
Description of Tax-Exempt
Mortgage Revenue Bonds	December 31, 2012		December 31, 2011		Financial Statement Presentation
Ashley Square	$	5,260,000	$	5,308,000	Tax-exempt mortgage revenue bond
Bella Vista	6,600,000		6,650,000		Tax-exempt mortgage revenue bond
Bent Tree	7,614,000		7,686,000		Consolidated VIE
Bridle Ridge	7,765,000		7,815,000		Tax-exempt mortgage revenue bond
Brookstone	9,416,794		9,490,809		Tax-exempt mortgage revenue bond
Cross Creek	8,568,409		8,634,693		Tax-exempt mortgage revenue bond
Fairmont Oaks	7,439,000		7,520,000		Consolidated VIE
Lake Forest	9,105,000		9,201,000		Consolidated VIE
Runnymede	10,605,000		10,685,000		Tax-exempt mortgage revenue bond
South Park	13,900,000		14,000,000		Tax-exempt mortgage revenue bond
Woodlynn Village	4,460,000		4,492,000		Tax-exempt mortgage revenue bond
Ohio Series A Bond ⁽¹⁾	14,582,000		14,666,000		Discontinued Operations
Villages at Lost Creek	18,315,000		18,500,000		Tax-exempt mortgage revenue bond
Total	$	123,630,203	$	124,648,502

Schedule of Financial Instruments Owned and Pledged as Collateral [Table Text Block]

As of December 31, 2011, the Company's outstanding debt financing totaled approximately $112.7 million.



Debt Financing	Outstanding Debt Financing at December 31, 2012		Original Debt Financing		Year Acquired	Stated Maturity	Effective Rate ⁽¹⁾

PHC Certificates-TOB Trust	$	48,995,000	$	48,995,000	2012	July 2013	2.13	%
Autumn Pines-TOB Trust	9,850,000		10,000,000		2011	July 2013	2.30	%
MBS - TOB Trust 1	2,585,000		2,585,000		2012	October 2013	1.31	%
MBS - TOB Trust 2	4,090,000		4,090,000		2012	October 2013	1.29	%
MBS - TOB Trust 3	3,890,000		3,890,000		2012	October 2013	1.32	%
MBS - TOB Trust 4	5,960,000		5,960,000		2012	October 2013	1.29	%
MBS - TOB Trust 5	8,590,000		8,590,000		2012	October 2013	1.28	%
TEBs Financing	93,988,000		95,810,000		2010	September 2013	2.09	%
Total Debt Financing	$	177,948,000	$	179,920,000

Debt Financing	Outstanding Debt Financing at December 31, 2011		Original Debt Financing		Year Acquired	Stated Maturity	Effective Rate ⁽¹⁾

Autumn Pines	$	9,930,000	$	10,000,000	2011	July 2012	2.01	%
GMF Warren/Tulane	7,810,000		7,810,000		2011	November 2012	1.70	%
TEBs Financing	94,933,000		95,810,000		2010	September 2017	2.10	%
Total Debt Financing	$	112,673,000	$	113,620,000

The following is a summary of the Mortgage Loans payable on MF Properties:



MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2012		Original Mortgage Payable		Year Acquired	Stated Maturity	Effective Rate ⁽¹⁾

Arboretum	$	17,500,000	$	17,500,000	2011	March 2014	5.25	%
Eagle Village	8,925,000		8,925,000		2010	June 2013	3.50	%
Glynn Place	4,252,836		4,480,000		2008	May 2013	2.78	%
Residences of DeCordova	1,995,628		2,000,000		2012	February 2017	5.01	%
Residences of Weatherford	6,446,043		6,500,000		2011	July 2015	5.84	%
Total Mortgage Payable	$	39,119,507	$	39,405,000

MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2011		Original Mortgage Payable		Year Acquired	Stated Maturity	Effective Rate ⁽¹⁾

Arboretum	$	17,500,000	$	17,500,000	2011	March 2014	5.25	%
Eagle Village	8,925,000		8,925,000		2011	June 2013	3.50	%
Glynn Place	4,308,468		4,480,000		2008	May 2012	2.99	%
Residences of Weatherford	4,730,987		4,730,987		2011	July 2015	5.63	%
Total Mortgage Payable	$	35,464,455	$	35,635,987

Schedule of Maturities of Long-term Debt [Table Text Block]

The Company's aggregate borrowings as of December 31, 2012 contractually mature over the next five years and thereafter as follows:



2013	$	84,969,000
2014	1,083,000
2015	1,139,000
2016	1,192,000
2017	1,292,000
Thereafter	88,273,000
Total	$	177,948,000

The Company's mortgages payable as of December 31, 2012, contractually mature over the next five years and thereafter as follows:



2013	$	13,339,707
2014	17,661,871
2015	6,122,301
2016	—
2017	1,995,628
Thereafter	—
Total	$	39,119,507

- Definition

Tabular disclosure of financial instruments held by the entity for its own account for trading or investment purposes that are carried at fair value and pledged to counterparties as collateral for financing transactions. Description may include equity, fixed income, debt or other securities.

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