MORTGAGE NOTES PAYABLE (Tables)

3 Months Ended

Mar. 31, 2016

MORTGAGE NOTES PAYABLE

Schedule of approximate annual maturities

Approximate annual maturities at March 31, 2016 are as follows:

2017—current maturities	$	1,437,000
2018		1,799,000
2019		7,878,000
2020		4,324,000
2021		2,057,000
Thereafter		198,383,000
		215,878,000
Less: unamortized deferred financing costs		(1,567,000)
	$	214,311,000