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Subsequent Events
12 Months Ended
Dec. 31, 2018
Subsequent Events [Abstract]  
Subsequent Events

10. SUBSEQUENT EVENTS

 

The tenant for the Property operated as an Applebee’s restaurant has been in Chapter 11 bankruptcy since May 2018. In January 2019, the tenant for the Property operated as an Applebee’s filed with the court to continue with the Partnership’s lease without modification.

 

The lease for the Brakes4Less Property commenced on September 30, 2018. Per the terms of the First Amendment to lease dated January 15, 2019, the first 12 months’ rent was abated.

 

On February 15, 2019, the Partnership made a distribution to the limited partners of $500,000 in the aggregate, which amounted to $10.80 per Interest.

 

We have reviewed all material events through the date of this report in accordance with ASC 855-10.