FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2018

FAIR VALUE MEASUREMENTS

Schedule of carrying amounts and estimated fair value of debt

		Carrying Amount		Estimated Fair Value
Mortgage Notes Payable
Partnership Properties
At December 31, 2018	*	$	252,370,843	$	233,362,501
At December 31, 2017	*	$	233,221,258	$	237,895,708
Investment Properties
At December 31, 2018	*	$	166,492,692	$	160,956,055
At December 31, 2017	*	$	124,145,012	$	125,519,974