SUBSEQUENT EVENTS	6 Months Ended
Jun. 30, 2013
SUBSEQUENT EVENTS
SUBSEQUENT EVENTS	NOTE 16. SUBSEQUENT EVENTS On July 7, 2013, Boylston Downtown LP, a wholly owned subsidiary of the Partnership, refinanced the property located at 62 Boylston Street, Boston, Massachusetts. The new $40,000,000 mortgage has an interest rate of 3.97%. The terms of the loan are interest only for the first three years, with a 30 year amortization thereafter until maturity in August 2028. Approximately $19,500,000 of loan proceeds was used to pay off the existing mortgage. The balance of the funds, approximately $20,000,000, after closing costs, is included in the Partnership’s cash reserves. On July 15, 2013, Hamilton Green Apartments, LLC, a newly formed subsidiary of the Partnership, purchased Windsor Green at Andover, a 193 unit apartment complex located at 311 and 319 Lowell Street, Andover, Massachusetts. The purchase price was $62,500,000. To fund this purchase, the Partnership obtained short term financing of approximately $40,000,000, used the funds of approximately $2,100,000 from the like kind exchange of the Nashoba Apartments, and the balance from the Partnership’s cash reserves. The mortgage has a maturity date of October 15, 2013; and is interest only with an interest rate of LIBOR plus 225 points (currently 2.45%). The Partnership is currently working on long term financing. On August 1, 2013, Hamilton Bay Unit Sales paid down $350,000 of its outstanding mortgage. This entity intends to pay off the remaining balance of $1,318,000 by the end of September 2013. The Partnership will need to contribute approximately $800,000 to complete this transaction. Through August 9, 2013, the Partnership purchased a total of 12,000 Depositary Receipts. The price was $41.50 per receipt or $1,245.00 Class A unit. The total cost was $498,000. The Partnership is required to repurchase approximately 95 Class B Units and 5 General Partner units at a cost of $118,275 and $6,225, respectively. There were no repurchases during the fiscal quarter ended June 30, 2013.

NOTE 16. SUBSEQUENT EVENTS

On July 7, 2013, Boylston Downtown LP, a wholly owned subsidiary of the Partnership, refinanced the property located at 62 Boylston Street, Boston, Massachusetts. The new $40,000,000 mortgage has an interest rate of 3.97%. The terms of the loan are interest only for the first three years, with a 30 year amortization thereafter until maturity in August 2028. Approximately $19,500,000 of loan proceeds was used to pay off the existing mortgage. The balance of the funds, approximately $20,000,000, after closing costs, is included in the Partnership’s cash reserves.

On July 15, 2013, Hamilton Green Apartments, LLC, a newly formed subsidiary of the Partnership, purchased Windsor Green at Andover, a 193 unit apartment complex located at 311 and 319 Lowell Street, Andover, Massachusetts. The purchase price was $62,500,000. To fund this purchase, the Partnership obtained short term financing of approximately $40,000,000, used the funds of approximately $2,100,000 from the like kind exchange of the Nashoba Apartments, and the balance from the Partnership’s cash reserves. The mortgage has a maturity date of October 15, 2013; and is interest only with an interest rate of LIBOR plus 225 points (currently 2.45%). The Partnership is currently working on long term financing.

On August 1, 2013, Hamilton Bay Unit Sales paid down $350,000 of its outstanding mortgage. This entity intends to pay off the remaining balance of $1,318,000 by the end of September 2013. The Partnership will need to contribute approximately $800,000 to complete this transaction.

Through August 9, 2013, the Partnership purchased a total of 12,000 Depositary Receipts. The price was $41.50 per receipt or $1,245.00 Class A unit. The total cost was $498,000. The Partnership is required to repurchase approximately 95 Class B Units and 5 General Partner units at a cost of $118,275 and $6,225, respectively. There were no repurchases during the fiscal quarter ended June 30, 2013.