FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2012

FAIR VALUE MEASUREMENTS

Schedule of carrying amounts and estimated fair value of debt

	Carrying Amount		Estimated Fair Value
Mortgage Notes Payable
Partnership Properties
At December 31, 2012	$	138,055,523	$	155,942,880
At December 31, 2011	$	139,161,612	$	158,050,039
Investment Properties
At December 31, 2012	$	138,256,711	$	157,983,030
At December 31, 2011	$	140,159,839	$	160,535,764