XML 51 R41.htm IDEA: XBRL DOCUMENT v3.19.1
MORTGAGE NOTES PAYABLE (Line of Credit) (Details)
1 Months Ended 3 Months Ended 12 Months Ended
Jun. 04, 2018
USD ($)
Sep. 29, 2017
USD ($)
Sep. 30, 2015
Jul. 31, 2014
USD ($)
item
May 31, 2019
USD ($)
Jan. 31, 2019
USD ($)
Oct. 31, 2018
USD ($)
Jul. 31, 2018
USD ($)
Aug. 31, 2014
Mar. 31, 2019
USD ($)
Mar. 31, 2018
USD ($)
Dec. 31, 2005
Mar. 29, 2018
USD ($)
Jul. 16, 2017
USD ($)
Mar. 07, 2005
item
Line of Credit                              
Interest expense                   $ 3,000,289 $ 2,984,210        
Line Of Credit Facility Unused Capacity Commitment Fee                   12,000          
Webster Green Apartments                              
Line of Credit                              
Loan amount                         $ 21,500,000    
Credit line balance                         8,000,000    
Hamilton Essex 81                              
Line of Credit                              
Number of properties in which borrowing amount collateralized | item                             1
Residences at Captain Parkers LLC Residential Apartments Lexington, Massachusetts | Subsequent event                              
Line of Credit                              
Term of debt         10 years                    
Loan amount         $ 20,750,000                    
Minimum                              
Line of Credit                              
Tangible net worth                   $ 150,000,000          
Ratio of net operating income to total indebtedness                   9.50%          
Debt service coverage ratio                   1.6          
Maximum                              
Line of Credit                              
Leverage ratio                   65.00%          
Aggregate increase in indebtedness                   $ 15,000,000          
Mortgages payable | Hamilton Essex 81                              
Line of Credit                              
Term of debt     10 years                        
Mortgages payable | Hamilton on Main Apartments, LLC                              
Line of Credit                              
Term of debt                 10 years     10 years      
Mortgages payable | LIBOR | Hamilton Essex 81                              
Line of Credit                              
Margin over basis of interest rate (as a percent)     2.18%                        
Line of Credit                              
Line of Credit                              
Maximum borrowings       $ 25,000,000                      
Term of debt       3 years                      
Payment on line of credit   $ 8,000,000       $ 2,000,000 $ 3,000,000 $ 4,000,000              
Amount of refinancing costs                   $ 128,000          
Credit line balance                           $ 25,000,000  
Number of properties in which borrowing amount collateralized | item       23                      
Line of Credit | Dexter Park                              
Line of Credit                              
Payment on line of credit $ 16,000,000                            
Line of Credit | Hamilton Highlands LLC Residential Needham Massachusetts [Member]                              
Line of Credit                              
Funds drawn by the company                         $ 8,000,000    
Line of Credit | Federal Funds Rate                              
Line of Credit                              
Basis of effective interest rate used in calculation of Base Rate (as a percent)       0.50%                      
Line of Credit | LIBOR                              
Line of Credit                              
Basis of effective interest rate used in calculation of Base Rate (as a percent)       1.00%                      
Margin over basis of interest rate (as a percent)       2.50%                      
Line of Credit | Minimum                              
Line of Credit                              
Pledged interests of the Partnership's ownership interest (as a percent)       49.00%                      
Commitment fee for unused amount (as a percent)       0.15%                      
Line of Credit | Maximum                              
Line of Credit                              
Pledged interests of the Partnership's ownership interest (as a percent)       100.00%                      
Commitment fee for unused amount (as a percent)       0.20%