Investments in Real Estate

6 Months Ended

Jun. 30, 2011

Investments in Real Estate [Abstract]

Investments in Real Estate

4)  Investments in Real Estate –

On October 20, 2010, the Partnership purchased a 40% interest in a Scott & White Clinic in College Station, Texas for $1,470,224.  The Partnership incurred $32,227 of acquisition expenses related to the purchase that were expensed.  The property is leased to Scott & White Healthcare under a Lease Agreement with a remaining primary term of 9.7 years (as of the date of purchase) and initial annual rent of $123,200 for the interest purchased.  The remaining interests in the property were purchased by AEI Income & Growth Fund XXI Limited Partnership and AEI Income & Growth Fund 25 LLC, affiliates of the Partnership.

On January 31, 2011, the Lease term expired for the HomeTown Buffet restaurant in Albuquerque, New Mexico.  The tenant returned possession of the property to the Partnership.  The Partnership has listed the property for lease with a real estate broker in the Albuquerque area.  While the property is vacant, the Partnership is responsible for its 40.1354% share of real estate taxes and other costs associated with maintaining the property.  The property represents less than 3% of the Partnership's property portfolio.  The loss of rent from this property will have only a minor effect on the Partnership's operations and financial situation.  The Partnership has evaluated the carrying value of the property and concluded that there is no impairment at this time.