Investment Properties and Properties Held for Sale

3 Months Ended

Mar. 31, 2016

Real Estate [Abstract]

Investment Properties and Properties Held for Sale

3. INVESTMENT PROPERTIES AND PROPERTIES HELD FOR SALE:

The total cost of the Properties includes the original purchase price plus acquisition fees and other capitalized costs paid to an affiliate of the former general partners.

As of March 31, 2016, the Partnership owned property leased to eleven operators of constructed fast-food restaurants. The eleven tenants are composed of, and operate, the following: nine Wendy’s restaurants, an Applebee’s restaurant, and a KFC restaurant. The Properties are located in a total of four states.

Discontinued Operations

During the three month periods ended March 31, 2016 and 2015, the Partnership recognized no income or loss from discontinued operations.