Investment in Joint Ventures

3 Months Ended

Mar. 31, 2012

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

INVESTMENT IN JOINT VENTURES

Summary of Financial Information

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 was terminated in the first quarter of 2012 in accordance with the relevant dissolution and termination provisions of the Georgia Uniform Partnership Act upon filing its final tax return.

Condensed financial information for the joint ventures in which the Partnership held direct interests for the three months ended March 31, 2012 and 2011, respectively, is presented below:



	Total Revenues				Income (Loss) From Continuing Operations⁽¹⁾					Income From Discontinued Operations⁽¹⁾				Net Income
	Three Months Ended				Three Months Ended					Three Months Ended				Three Months Ended
	March 31,				March 31,					March 31,				March 31,
	2012		2011		2012		2011			2012		2011		2012		2011
Fund VIII-IX Associates	$	516,594	$	480,226	$	167,717	$	67,017		$	—	$	—	$	167,717	$	67,017
Fund IX-X-XI-REIT Associates	—		—		—		(18,142		)	—		63,751		—		45,609
	$	516,594	$	480,226	$	167,717	$	48,875		$	—	$	63,751	$	167,717	$	112,626


⁽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 from discontinued operations recognized by the Joint Ventures are provided below:



	Three Months Ended						Three Months Ended
	March 31, 2012						March 31, 2011
	Operating Income		Gain on Sale		Total		Operating Income		Gain on Sale		Total
Fund IX-X-XI-REIT Associates	$	—	$	—	$	—	$	63,751	$	—	$	63,751

Due from Joint Ventures

As presented in the accompanying balance sheets, due from joint ventures as of March 31, 2012 and December 31, 2011 represents operating cash flow generated by Fund VIII-IX Associates for the three months ended March 31, 2012 and December 31, 2011, respectively, which is attributable to the Partnership.

- 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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