Investments, Equity Method and Joint Ventures

9 Months Ended

Sep. 30, 2011

Investments, Equity Method and Joint Ventures

Equity Method Investments Disclosure [Text Block]

Note C - Investment in Affiliated Partnership

The Partnership has an investment in the following affiliated partnership:

			Investment Balance at
	Type of	Ownership	September 30,	December 31,
Partnership	Ownership	Percentage	2011	2010
			(in thousands)	(in thousands)
Consolidated
Capital	Special Limited
Properties IV	Partner	1.86%	$   --	$  437

This investment is accounted for using the equity method of accounting. Distributions from the affiliated partnership are accounted for as a reduction of the investment balance until the investment balance is reduced to zero. When the investment balance has been reduced to zero, subsequent distributions received are recognized as income in the accompanying statements of operations.  During the nine months ended September 30, 2011 and 2010, the Partnership recognized equity in loss from the operating results of the investment of approximately $20,000 and $37,000, respectively.

In accordance with the Partnership’s impairment policy, the Partnership recorded an impairment loss of approximately $417,000 to write its investment in the affiliated partnership down to zero. The affiliated partnership intends to merge with affiliates of the General Partner and the Partnership will not receive any consideration for its special limited partnership interest nor does the Partnership expect to receive any further distributions from the affiliated partnership.