XML 81 R69.htm IDEA: XBRL DOCUMENT v3.6.0.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Mortgage Maturities) (Details) - USD ($)
Dec. 31, 2016
Dec. 31, 2015
Dec. 31, 2014
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
12/31/2017 $ 6,207,831    
12/31/2018 1,874,727    
12/31/2019 80,421,007    
12/31/2020 205,532    
12/31/2021 213,629    
Thereafter 41,835,610    
Less: unamortized deferred financing costs (606,038)    
Total 130,758,336 $ 135,657,989  
Debt maturities net of unamortized deferred financing costs $ 130,152,298   $ 137,317,724
Weighted average interest rate (as a percent) 4.99%    
Effective interest rate (as a percent) 5.07%    
Hamilton Essex 81      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter $ 10,000,000    
Less: unamortized deferred financing costs (120,654)    
Total 10,000,000 9,865,557  
Debt maturities net of unamortized deferred financing costs 9,879,346   8,079,567
345 Franklin      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
12/31/2017 183,037    
12/31/2018 190,248    
12/31/2019 197,742    
12/31/2020 205,532    
12/31/2021 213,629    
Thereafter 8,935,610    
Less: unamortized deferred financing costs (76,573)    
Total 9,925,798 9,916,769  
Debt maturities net of unamortized deferred financing costs 9,849,225   9,910,110
Hamilton 1025      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Total   4,728,751  
Debt maturities net of unamortized deferred financing costs     4,796,446
Hamilton Bay Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
12/31/2017 4,431,370    
Less: unamortized deferred financing costs (796)    
Total 4,431,370 4,497,183  
Debt maturities net of unamortized deferred financing costs 4,430,574   4,560,483
Hamilton Minuteman      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter 6,000,000    
Less: unamortized deferred financing costs (120,366)    
Total 6,000,000 5,208,820  
Debt maturities net of unamortized deferred financing costs 5,879,634   5,284,499
Hamilton on Main Apts      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Thereafter 16,900,000    
Less: unamortized deferred financing costs (123,060)    
Total 16,900,000 16,760,889  
Debt maturities net of unamortized deferred financing costs 16,776,940   16,744,838
Dexter Park      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
12/31/2017 1,593,424    
12/31/2018 1,684,479    
12/31/2019 80,223,265    
Less: unamortized deferred financing costs (164,589)    
Total 83,501,168 $ 84,680,020  
Debt maturities net of unamortized deferred financing costs $ 83,336,579   85,959,590
Hamilton Essex Development      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES      
Debt maturities net of unamortized deferred financing costs     $ 1,982,191