XML 66 R56.htm IDEA: XBRL DOCUMENT v3.21.2
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES (Hamilton Minuteman) (Details)
1 Months Ended 6 Months Ended
Oct. 13, 2016
USD ($)
Oct. 12, 2016
USD ($)
Jan. 31, 2007
USD ($)
Oct. 31, 2004
USD ($)
Sep. 30, 2004
USD ($)
item
Jun. 30, 2021
USD ($)
property
Jun. 30, 2020
USD ($)
property
Dec. 31, 2020
USD ($)
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture           $ 1,416,958   $ 1,410,769
Distribution to the Partnership           2,337,721 $ 2,338,034  
Amount of mortgage paid off   $ 5,158,000            
Refinancing costs           1,225,000    
Outstanding amount of mortgage           $ 282,438,864   $ 283,444,533
Hamilton Minuteman                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Investments in joint venture         $ 5,075,000      
Ownership interest (as a percent)         50.00%   50.00%  
Number of units         42 42 42  
Purchase price of real estate properties         $ 10,100,000      
Distribution to the Partnership $ 385,000     $ 3,775,000        
Mortgage amount   $ 6,000,000 $ 5,500,000 $ 8,025,000   $ 6,000,000    
Term of debt   15 years 10 years 10 years        
Refinancing costs $ 123,000         83,540    
Interest rate (as a percent)   3.71% 5.67%          
Period for which the entity is required to make interest only payments     5 years          
Amortization period of debt     30 years          
Cash contribution by the entity towards loan     $ 1,250,000          
Outstanding amount of mortgage           $ 5,916,460 $ 5,908,276  
Residential buildings | Hamilton Minuteman                
INVESTMENT IN UNCONSOLIDATED JOINT VENTURES                
Number of units | property           42 42