Property, Plant, and Equipment

12 Months Ended

Dec. 31, 2011

Property, Plant and Equipment Disclosure [Text Block]

Note E – Investment Properties and Accumulated Depreciation

		Initial Cost
		To Partnership
		(in thousands)
			Buildings	Net Cost
			and Related	Capitalized
			Personal	Subsequent to
Description	Encumbrances	Land	Property	Acquisition
	(in thousands)			(in thousands)
Lakeside at Vinings
Mountain	$14,883	$ 1,206	$10,980	$14,041
Greenspoint at Paradise
Valley	15,459	2,165	11,199	11,107
The Peak at Vinings
Mountain	15,724	1,632	12,321	16,652
Tamarind Bay Apartments	6,744	634	6,485	4,478
	$52,810	$ 5,637	$40,985	$46,278

	Gross Amount At Which Carried
	At December 31, 2011
	(in thousands)

		Buildings
		and Related
		Personal		Accumulated	Year of	Date	Depreciable
Description	Land	Property	Total	Depreciation	Construction	Acquired	Life
				(in thousands)

Lakeside at Vinings
Mountain	$ 1,206	$25,021	$ 26,227	$18,190	1983	12/83	5-30 yrs
Greenspoint at Paradise
Valley	2,140	22,331	24,471	17,006	1984	2/84	5-30 yrs
The Peak at Vinings
Mountain	1,632	28,973	30,605	20,282	1982	4/84	5-30 yrs
Tamarind Bay
Apartments	587	11,010	11,597	8,266	1981	7/84	5-30 yrs
	$ 5,565	$87,335	$ 92,900	$63,744

Reconciliation of "Investment Properties and Accumulated Depreciation":

	Years Ended December 31,
	2011	2010
	(in thousands)
Investment Properties
Balance at beginning of year	$ 97,862	$ 97,156
Property improvements	1,205	706
Retirement of assets	(6,137)	--
Disposal of assets	(30)	--
Balance at end of year	$ 92,900	$ 97,862

Accumulated Depreciation
Balance at beginning of year	$ 62,160	$ 54,279
Additions charged to expense	7,747	7,881
Retirement of assets	(6,137)	--
Disposal of assets	(26)	--
Balance at end of year	$ 63,744	$ 62,160

During the year ended December 31, 2011, the Partnership retired and wrote off personal property no longer being used that had a cost basis of approximately $6,137,000 and accumulated depreciation of approximately $6,137,000.

The aggregate cost of the investment properties for Federal income tax purposes at December 31, 2011 and 2010 is approximately $97,042,000 and $95,872,000, respectively. The accumulated depreciation for Federal income tax purposes at December 31, 2011 and 2010 is approximately $71,346,000 and $67,187,000, respectively.

- Definition

The entire disclosure for long-lived, physical assets that are used in the normal conduct of business to produce goods and services and not intended for resale. Examples include land, buildings, machinery and equipment, and other types of furniture and equipment including, but not limited to, office equipment, furniture and fixtures, and computer equipment and software. This disclosure may include property plant and equipment accounting policies and methodology, a schedule of property, plant and equipment gross, additions, deletions, transfers and other changes, depreciation, depletion and amortization expense, net, accumulated depreciation, depletion and amortization expense and useful lives, income statement disclosures, assets held for sale and public utility disclosures.

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