Mortgages Payable and Other Secured Financing

6 Months Ended

Jun. 30, 2016

Mortgages Payable [Abstract]

Mortgages Payable and Other Secured Financing [Text Block]

17. Mortgages Payable and Other Secured Financing

The Partnership reports the mortgage loans secured by certain MF Properties on its condensed consolidated financial statements as Mortgages payable and other secured financing.    

The following is a summary of the Mortgages payable and other secured financing on the MF Properties:

MF Property Mortgage Payables	Outstanding Mortgage Payable at June 30, 2016		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate			Facility Fees			Period End Rate
Eagle Village (1)		7,941,341	2010	September 2018	Variable	Monthly		0.50	%		3.00	%		3.50	%
Residences of DeCordova		1,776,560	2012	June 2017	Fixed	N/A	N/A			N/A				4.75	%
Residences of Weatherford		5,706,621	2011	June 2017	Fixed	N/A	N/A			N/A				4.75	%
The 50/50 MF    Property--Mortgage (2)		25,422,722	2013	March 2020	Variable	Monthly		3.50	%	N/A				3.50	%
The 50/50 MF Property--TIF    Loan		3,720,081	2014	December 2019	Fixed	N/A	N/A			N/A				4.65	%
Woodland Park (1)		7,500,000	2014	August 2017	Variable	Monthly		0.47	%		2.75	%		3.22	%
Total Mortgage Payable\Period    End Rate	$	52,067,325												3.72	%

⁽¹⁾ Variable rate is based on LIBOR

⁽²⁾ Variable rate is based on Wall Street Journal Prime Rate

MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2015		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate			Facility Fees			Period End Rate
Arboretum		16,683,146	2011	March 2017	Fixed	N/A	N/A			N/A				3.75	%
Eagle Village (1)		8,037,133	2010	September 2018	Variable	Monthly		0.25	%		3.00	%		3.25	%
Residences of DeCordova		1,807,246	2012	June 2017	Fixed	N/A	N/A			N/A				4.75	%
Residences of Weatherford		5,820,623	2011	June 2017	Fixed	N/A	N/A			N/A				4.75	%
The 50/50 MF    Property--Mortgage (2)		25,363,647	2013	March 2020	Variable	Monthly		3.25	%	N/A				3.25	%
The 50/50 MF Property--TIF    Loan		4,035,779	2014	December 2019	Fixed	N/A	N/A			N/A				4.65	%
Woodland Park (1)		7,500,000	2014	August 2017	Variable	Monthly		0.19	%		2.75	%		2.94	%
Total Mortgage Payable\Period    End Rate	$	69,247,574												3.58	%

⁽¹⁾ Variable rate is based on LIBOR

⁽²⁾ Variable rate is based on Wall Street Journal Prime Rate

The Partnership’s mortgages payable and other secured financing on June 30, 2016 contractually mature over the next five years and thereafter as follows:

2017	$	15,810,807
2018		951,618
2019		8,348,826
2020		27,310,278
Total mortgages payable and other secured financings	$	52,421,529