XML 21 R7.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statements of Cash Flows (USD $)
3 Months Ended
Mar. 31, 2013
Mar. 31, 2012
Cash flows from operating activities:    
Net loss $ (662,069) $ (186,849)
Adjustments to reconcile net loss to net cash provided by operating activities:    
Depreciation of building and tenant improvements 615,992 400,510
Amortization of leasing costs 74,264 54,281
Amortization of mortgage refinancing costs 79,261 79,261
Changes in operating assets and liabilities:    
Other assets 24,196 (16,162)
Due to Supervisor, a related party (26,675) (15,926)
Accrued mortgage interest (1,234) (1,832)
Accrued supervisory fees, a related party    (20,000)
Accrued expenses (4,250) (48,571)
Net cash provided by operating activities 99,485 244,712
Cash flows from investing activities:    
Increase in payable to Lessee, a related party   16,984
Net cash provided by investing activities   16,984
Cash flows from financing activities:    
Repayment of mortgages payable (267,764) (253,396)
Deferred costs (447,735) (182,037)
Distributions to Participants (180,000) (180,000)
Net cash used in financing activities (895,499) (615,433)
Net decrease in cash and cash equivalents (796,014) (353,737)
Cash and cash equivalents, beginning of period 3,320,599 2,325,024
Cash and cash equivalents, end of period 2,524,585 1,971,287
Supplemental disclosure of cash flow information-    
Cash paid for interest 686,396 606,505
Supplemental information of non-cash, investing and financing activities:    
Deferred costs included in Due to Supervisor, a related party 48,636 68,239
Purchase of building and tenant improvements included in Payable to Lessee, a related party $ 4,668,892 $ 4,569,277