XML 22 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statements of Cash Flows (USD $)
9 Months Ended
Sep. 30, 2012
Sep. 30, 2011
Cash flows from operating activities:    
Net income $ 2,697,158 $ 3,580,877
Adjustments to reconcile net income to net cash provided by operating activities:    
Depreciation of building and tenant improvements 1,289,581 1,112,272
Amortization of leasing costs 186,150 142,985
Amortization of mortgage refinancing costs 237,783 237,783
Changes in operating assets and liabilities:    
Other receivable and Due from Lessee (3,637,489) (4,424,412)
Leasing costs paid   (159,949)
Change in prepaid insurance (10,144)  
Change in due to Supervisor, a related party 88,641  
Change in accrued mortgage interest (4,916) (3,529)
Change in accrued supervisory fees, a related party (20,000) 253,745
Change in accrued expenses (44,361) (66,481)
Net cash provided by operating activities 782,403 673,290
Cash flows from investing activities:    
Purchase of building and tenant improvements   (2,931,285)
Increase in payable to Lessee, a related party 16,984 3,091,234
Net cash provided by investing activities 16,984 159,949
Cash flows from financing activities:    
Repayment of mortgages payable (770,788) (729,331)
Deferred costs (544,239) (297,604)
Distributions to Participants (540,000) (540,000)
Net cash used in financing activities (1,855,027) (1,566,935)
Net decrease in cash and cash equivalents (1,055,640) (733,696)
Cash and cash equivalents, beginning of period 2,325,024 1,513,152
Cash and cash equivalents, end of period 1,269,384 779,456
Supplemental disclosure of cash flow information:    
Cash paid for interest 1,808,983 1,703,342
Net cash used in financing activities excluded an increase in due to Supervisor 80,632  
Net cash used in investing activities excluded the increase of payable to Lessee $ 4,982,037