XML 85 R73.htm IDEA: XBRL DOCUMENT v3.8.0.1
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Details)
1 Months Ended 12 Months Ended
Sep. 30, 2015
USD ($)
Sep. 28, 2015
USD ($)
Oct. 28, 2009
USD ($)
item
Oct. 28, 2009
item
Sep. 30, 2004
USD ($)
Aug. 31, 2004
USD ($)
Aug. 31, 2014
USD ($)
Jun. 30, 2013
USD ($)
Oct. 31, 2009
USD ($)
Jan. 31, 2007
USD ($)
Oct. 31, 2004
USD ($)
Dec. 31, 2017
USD ($)
item
Dec. 31, 2016
USD ($)
item
Dec. 31, 2015
USD ($)
item
Dec. 31, 2005
USD ($)
item
Feb. 01, 2016
item
Feb. 01, 2015
item
May 31, 2008
item
Mar. 31, 2005
USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Investments in joint venture                       $ 7,212,044 $ 8,336,505 $ 7,819,162          
Number of units | item                           1,033          
Outstanding amount of mortgage                       233,221,258 212,709,080            
Number of units sold | item                           242          
Number of units retained for long-term investment | item                           (786)          
Unsold units | item                           5          
Distribution to the Partnership                       7,985,835 $ 6,729,679 $ 3,785,883          
Mortgages payable                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Outstanding amount of mortgage                       $ 233,221,000              
Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of limited partnerships and limited liability companies in which the entity has invested | item                       9              
Number of partnerships investing in commercial property | item                       3              
Number of units | item                       1,033 1,033            
Number of units sold | item                               310 258    
Number of units retained for long-term investment | item                       (689) (689)            
Unsold units | item                               34 38    
Hamilton Company/Management Company                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of employees having ownership interest in the investment properties | item                       5              
Dexter Park                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Purchase price of real estate properties     $ 129,500,000                                
Dexter Park | Mortgage, 5.57%, Due 2019                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount                 $ 89,914,000                    
Interest rate (as a percent)     5.57% 5.57%                              
Period for which the entity is required to make interest only payments                 2 years                    
Amortization period of debt       30 years                              
Outstanding amount of mortgage                       $ 82,004,000              
Hamilton Bay Apts                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units sold | item                       1              
Gain on the sale of real estate                       $ 133,000              
Hamilton Essex Development, LLC and Hamilton Essex 81, LLC | Mortgage, March 2005                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount                                     $ 10,750,000
Repayment of loan $ 8,040,719                                    
Hamilton Essex 81                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Outstanding amount of mortgage                       10,000,000              
Hamilton Essex 81 | Mortgage, 2.18% Plus LIBOR, September 2015                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount $ 10,000,000                                    
Hamilton Essex 81 | LIBOR | Mortgage, 2.18% Plus LIBOR, September 2015                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Margin over basis of interest rate (as a percent) 2.18%                                    
Basis of interest rate one month LIBOR                                    
Hamilton Essex Development | Mortgage, March 2005                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Repayment of loan   $ 1,952,286                                  
Hamilton Minuteman                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Purchase price of real estate properties         $ 10,100,000                            
Distribution to the Partnership                     $ 3,775,000                
Hamilton Minuteman | Mortgage, October 2004                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount                     $ 8,025,000                
Hamilton Minuteman | Mortgage, 5.67%, January 2007                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount                   $ 5,500,000                  
Interest rate (as a percent)                   5.67%                  
Period for which the entity is required to make interest only payments                   5 months                  
Amortization period of debt                   30 years                  
Term of debt                   10 years                  
Hamilton on Main Apts                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Purchase price of real estate properties           $ 56,000,000                          
Number of units sold | item                                   137  
Distribution to the Partnership             $ 850,000                        
Hamilton on Main Apts | Mortgage, 5.18%, 2005                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount                             $ 16,825,000        
Interest rate (as a percent)                             5.18%        
Period for which the entity is required to make interest only payments                             3 years        
Amortization period of debt                             30 years        
Term of debt                             10 years        
Number of buildings | item                             3        
Repayment of loan             15,205,000                        
Term excluding period for which interest only payments to be made                             7 years        
Net proceeds after funding escrow accounts and closing costs                             $ 16,700,000        
Hamilton on Main Apts | Mortgage, 4.34%, August 2014                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount             $ 16,900,000                        
Interest rate (as a percent)             4.34%                        
Term of debt             10 years                        
345 Franklin                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Distribution to the Partnership               $ 1,610,000                      
345 Franklin | Mortgage, 3.87%, June 2013                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Mortgage amount               $ 10,000,000                      
Interest rate (as a percent)               3.87%                      
Period for which the entity is required to make interest only payments               3 years                      
Amortization period of debt               30 years                      
Outstanding amount of mortgage                       $ 9,743,000              
Term of debt               15 years                      
345 Franklin | Mortgage, Paid off June 2013                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Repayment of loan               $ 6,776,000                      
Residential buildings                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units | item                           1,030          
Residential buildings | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units | item                       1,030 1,030            
Residential buildings | Dexter Park                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units | item     409 409                              
Commercial                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units | item                           3          
Commercial | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Number of units | item                       3 3            
Minimum | Mortgages payable                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Interest rate (as a percent)                       3.24%              
Minimum | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Ownership interest (as a percent)                       40.00%              
Minimum | Harold Brown | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Ownership interest of related party (as a percent)                       43.20%              
Maximum | Mortgages payable                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Interest rate (as a percent)                       5.97%              
Maximum | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Ownership interest (as a percent)                       50.00%              
Maximum | Harold Brown | Investment Properties                                      
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                                      
Ownership interest of related party (as a percent)                       56.00%