Investment in Joint Venture

3 Months Ended

Mar. 31, 2013

Equity Method Investments and Joint Ventures [Abstract]

Investment in Joint Venture

INVESTMENT IN JOINT VENTURE

Summary of Financial Information

Condensed financial information for the joint venture in which the Partnership held a direct interest for the three months ended March 31, 2013 and 2012, is presented below: 

	Total Revenues				Income (Loss) From Continuing Operations					Income From Discontinued Operations				Net Income
	Three Months Ended				Three Months Ended					Three Months Ended				Three Months Ended
	March 31,				March 31,					March 31,				March 31,
	2013		2012		2013			2012		2013		2012		2013		2012
Fund VIII-IX Associates	$	—	$	185,551	$	(154,584	)	$	85,063	$	2,113,298	$	82,654	$	1,958,714	$	167,717

The Partnership allocates its share of net income, net loss, and gain on sale generated by the properties owned by the Joint Venture to its Class A and Class B limited partners pursuant to the partnership agreement provisions outlined in Note 2. The components of income from discontinued operations recognized by the Joint Venture are provided below:

	Three Months Ended						Three Months Ended
	March 31, 2013						March 31, 2012
	Operating Income		Gain on Sale		Total		Operating Income		Gain on Sale		Total
Fund VIII-IX Associates	$	97,707	$	2,015,591	$	2,113,298	$	82,654	$	—	$	82,654

Due from Joint Venture

As presented in the accompanying balance sheets, due from joint venture as of December 31, 2012 represents operating cash flow generated by Fund VIII-IX Associates for the three months ended December 31, 2012, which is attributable to the Partnership.