FAIR VALUE MEASUREMENTS (Tables)

9 Months Ended

Sep. 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 September 30, 2020	*	$	283,927,890	$	308,211,420
At December 31, 2019	*	$	281,771,246	$	290,892,652
Investment Properties
At September 30, 2020	*	$	166,332,832	$	182,015,689
At December 31, 2019	*	$	166,404,255	$	169,988,236

* Net of unamortized deferred financing costs