FAIR VALUE MEASUREMENTS (Tables)

6 Months Ended

Jun. 30, 2020

FAIR VALUE MEASUREMENTS

Schedule of carrying amounts and estimated fair value of debt

		Carrying Amount		Estimated Fair Value
Mortgage Notes Payable
Partnership Properties
At June 30, 2020	*	$	284,402,031	$	305,678,933
At December 31, 2019	*	$	281,771,246	$	290,892,652
Investment Properties
At June 30, 2020	*	$	166,357,134	$	179,496,478
At December 31, 2019	*	$	166,404,255	$	169,988,236

* Net of unamortized deferred financing costs