Investment in Joint Ventures

12 Months Ended

Dec. 31, 2011

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

INVESTMENT IN JOINT VENTURES

Due from Joint Ventures

As of December 31, 2011 and 2010, due from joint ventures represents the Partnership's share of operating cash flow to be distributed from Fund VIII-IX Associates for the fourth quarters of 2011 and 2010, respectively.

Summary of Investments

The Partnership's investments and approximate ownership percentages in the Joint Ventures as of December 31, 2011 and 2010 are summarized below:



	2011			2010
	Amount		Percentage	Amount		Percentage
Fund VIII-IX Associates	$	4,239,485	45%	$	4,557,461	45%
Fund IX-X-XI-REIT Associates	—		39%	2,629,380		39%
	$	4,239,485		$	7,186,841

Summary of Activity

Rollforwards of the Partnership's investment in the Joint Ventures for the years ended December 31, 2011 and 2010 are presented below:



	2011			2010
Investment in Joint Ventures, beginning of year	$	7,186,841		$	9,129,644
Equity in income (loss) of Joint Ventures	720,494			(185,621		)
Contributions to Joint Ventures	253,699			753,291
Distributions from Joint Ventures	(3,921,549		)	(2,510,473		)
Investment in Joint Ventures, end of year	$	4,239,485		$	7,186,841

Summary of Financial Information

Condensed financial information for the Joint Ventures in which the Partnership held an interest as of December 31, 2011 and 2010, and for the years ended December 31, 2011, 2010, and 2009 is presented below:



	Total Assets				Total Liabilities				Total Equity
	December 31,				December 31,				December 31,
	2011		2010		2011		2010		2011		2010
Fund VIII-IX Associates	$	10,163,823	$	10,835,946	$	785,096	$	753,783	$	9,378,727	$	10,082,163

Fund IX-X-XI-REIT Associates wound up its affairs in 2011 by, among other things, collecting the outstanding receivables, satisfying outstanding payables, and distributing any residual cash balances to the joint venture partners. Fund IX-X-XI-REIT Associates will be terminated in the second quarter of 2012 in accordance with the relevant dissolution and termination provisions of the Georgia Uniform Partnership Act upon filing its final tax return.



	Total Assets				Total Liabilities				Total Net Assets in Liquidation⁽¹⁾		Total Equity
	December 31,				December 31,				December 31,		December 31,
	2011		2010		2011		2010		2011		2010
Fund IX-X-XI-REIT Associates	$	—	$	7,218,303	$	—	$	481,567	$	—	$	6,736,736


⁽¹⁾	Effective July 1, 2011, the first day of the quarter following the completion of the sale of all real estate assets, Fund IX-X-XI-REIT Associates adopted the liquidation basis of accounting, under which assets and liabilities are stated at their estimated net realizable values and net settlement amounts.



	Total Revenues⁽¹⁾						Income (loss) From Continuing Operations⁽¹⁾									Income (loss) From Discontinued Operations⁽¹⁾								Net Income (loss)
	For the Years Ended						For the Years Ended									For the Years Ended								For the Years Ended
	December 31,						December 31,									December 31,								December 31,
	2011		2010		2009		2011			2010			2009			2011		2010			2009			2011		2010			2009
Fund VIII- IX Associates	$	2,040,165	$	1,960,816	$	2,001,281	$	462,169		$	357,084		$	339,909		$	—	$	—		$	—		$	462,169	$	357,084		$	339,909
Fund IX- X-XI- REIT Associates	—		—		—		(24,668		)	(38,736		)	(16,142		)	1,335,377		(850,397		)	(1,401		)	1,310,709		(889,133		)	(17,543		)
	$	2,040,165	$	1,960,816	$	2,001,281	$	437,501		$	318,348		$	323,767		$	1,335,377	$	(850,397	)	$	(1,401	)	$	1,772,878	$	(532,049	)	$	322,366


⁽¹⁾	Prior-period amounts adjusted to conform with current-period presentation, including classifying revenues and income (loss) generated by the 360 Interlocken Building as discontinued operations for all periods presented.

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



	December 31, 2011						December 31, 2010											December 31, 2009
	Operating Income		Gain on Sale		Total		Operating Loss			Impairment Loss			Gain on Sale		Total			Operating Loss			Total
Fund IX-X-XI- REIT Associates	$	108,434	$	1,226,943	$	1,335,377	$	(86,656	)	$	(1,448,217	)	$	684,476	$	(850,397	)	$	(1,401	)	$	(1,401	)

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

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