10. Property Loans, Net of Loan Loss Allowances

The Partnership had the following Property Loans, Net of Loan Loss Allowances, at March 31, 2017 and December 31, 2016:

	March 31, 2017			December 31, 2016
Property loans receivable	$	38,063,647		$	36,862,148
Less: Loan loss allowance		(7,098,814	)		(7,098,814	)
Total property loans receivable	$	30,964,833		$	29,763,334

During the three months ended March 31, 2017, the Partnership advanced funds to Vantage at Brooks, LLC and Vantage at Braunfels, LLC of $879,000 and $823,000, respectively. During the three months ended March 31, 2016, the Partnership advanced net funds to Cross Creek of $6,000, to FAH of $2,500, to Vantage at Brooks, LLC of $3.7 million and to Vantage at Braunfels, LLC of $2.1 million. During the three months ended March 31, 2017, the Partnership received $500,000 of principal from the Winston Group, Inc.

The Partnership’s property loans to Ashley Square, Cross Creek, and Lake Forest remain on nonaccrual status at March 31, 2017. The Partnership recognizes interest income on impaired loans when cash is received and the Partnership will reassess the property loan’s nonaccrual status.

The following table summarizes the Partnership’s property loans, net of loan loss allowances, at March 31, 2017 and December 31, 2016:

	March 31, 2017
	Outstanding Balance		Accrued Interest		Loan Loss Allowances			Interest Allowance		Net Taxable Property Loans
Arbors at Hickory Ridge	$	191,264	$	58,587	$	-		$	-	$	249,851
Ashley Square		5,078,342		-		(3,596,342	)		-		1,482,000
Avistar (February 2013 portfolio)		274,496		101,441		-			-		375,937
Avistar (June 2013 portfolio)		251,622		92,988		-			-		344,610
Cross Creek		7,155,545		-		(3,447,472	)		-		3,708,073
Greens Property		850,000		500,449		-			-		1,350,449
Lake Forest		4,623,704		-		(55,000	)		-		4,568,704
Ohio Properties		2,390,446		1,082,461		-			-		3,472,907
Vantage at Brooks, LLC		8,078,002		67,317		-			-		8,145,319
Vantage at Braunfels, LLC		7,170,226		59,752		-			-		7,229,978
Winston Group, Inc		2,000,000		14,000		-			-		2,014,000
Total	$	38,063,647	$	1,976,995	$	(7,098,814	)	$	-	$	32,941,828

	December 31, 2016
	Outstanding Balance		Accrued Interest		Loan Loss Allowances			Interest Allowance		Net Taxable Property Loans
Arbors at Hickory Ridge	$	191,264	$	54,742	$	-		$	-	$	246,006
Ashley Square		5,078,342		-		(3,596,342	)		-		1,482,000
Avistar (February 2013 portfolio)		274,496		90,491		-			-		364,987
Avistar (June 2013 portfolio)		251,622		82,951		-			-		334,573
Cross Creek		7,155,545		-		(3,447,472	)		-		3,708,073
Greens Property		850,000		467,511		-			-		1,317,511
Lake Forest		4,623,704		-		(55,000	)		-		4,568,704
Ohio Properties		2,390,446		1,021,723		-			-		3,412,169
Vantage at Brooks, LLC		7,199,424		743,928		-			-		7,943,352
Vantage at Braunfels, LLC		6,347,305		703,416		-			-		7,050,721
Winston Group, Inc		2,500,000		-		-			-		2,500,000
Total	$	36,862,148	$	3,164,762	$	(7,098,814	)	$	-	$	32,928,096