FAIR VALUE OF FINANCIAL INSTRUMENTS (Tables)

3 Months Ended

Mar. 31, 2016

Fair Value Disclosures [Abstract]

Carrying and fair values of financial instruments

The carrying amounts and estimated fair values of the Partnership’s financial instruments were as follows (in thousands):

	March 31, 2016				December 31, 2015
	Mortgage Balance		Fair Value		Mortgage Balance		Fair Value
Mortgage notes payable:
Bent Oaks	5,708		6,162		5,731		6,121
Cape Cod	5,927		6,385		5,951		6,343
Woodhollow	4,897		5,269		4,916		5,234
Village	9,247		9,373		9,293		9,305
Total mortgage notes payable	$	25,779	$	27,189	$	25,891	$	27,003