SUBSCRIPTION RIGHTS OFFERING

12 Months Ended

Dec. 31, 2012

SUBSCRIPTION RIGHTS OFFERING

SUBSCRIPTION RIGHTS OFFERING

(3)  SUBSCRIPTION RIGHTS OFFERING

On April 4, 2012, the Partnership filed a registration statement on Form S-1 with the Securities and Exchange Commission (“SEC”) related to a proposed subscription rights offering of the Partnership’s Depositary Receipts representing units of limited partnership interests.  The Partnership capitalized approximately $116,000 in issuance costs in 2011 which were to be netted against the proceeds from the rights offering in partners’ capital.  On June 12, 2012, the Partnership decided to suspend the rights offering and filed an application with the SEC to withdraw the previously filed registration statement.  The capitalized costs were expensed to general and administrative expense during the quarter ended June 30, 2012.  Additionally, $198,000 in expenses incurred for the rights offering in 2012 were expensed to general and administrative expense.