Discontinued Operations

9 Months Ended

Sep. 30, 2012

Accounting Policies [Abstract]

Discontinued Operations

DISCONTINUED OPERATIONS

In accordance with ASC 205-20 (formerly, SFAS 144 Accounting for the Impairment or Disposal of Long-Lived Assets), the net income of a mini-storage facility located in Arvada, Colorado is reflected in the statement of income as discontinued operations for all periods presented.

In November 2011, a notice of intent for acquisition was received from the Colorado Regional Transportation District, whereby it proposed to acquire the Partnerships' mini-storage facility in Arvada, Colorado. In August 2012 an offer was accepted for a gross sales price of $4,110,000. Escrow closed in August 2012.

The following table summarizes the revenue and expense components that comprise discontinued operations:

	Three months ended September 30,		Nine months ended September 30,
	2012	2011	2012	2011
REVENUE	$95,840	$152,975	$419,479	$461,259
EXPENSES	140,987	74,573	312,032	235,246
NET OPERATING INCOME FROM DISCONTINUED OPERATIONS	$45,147	$78,402	$107,447	$226,013