XML 26 R4.htm IDEA: XBRL DOCUMENT v2.4.0.6
Condensed Statements of Operations (Unaudited) (USD $)
3 Months Ended 6 Months Ended
Jun. 30, 2012
Jun. 30, 2011
Jun. 30, 2012
Jun. 30, 2011
Revenue:        
Basic rent income, from a related party $ 1,868,604 $ 1,868,518 $ 3,737,200 $ 3,737,032
Advance of additional rent income, from a related party 263,450 263,450 526,900 526,900
Total rent income 2,132,054 2,131,968 4,264,100 4,263,932
Dividend income 195 268 418 548
Total revenue 2,132,249 2,132,236 4,264,518 4,264,480
Expenses:        
Interest on mortgages 1,362,892 1,394,642 2,733,888 2,796,948
Supervisory services, to a related party 48,478 46,845 96,956 93,690
Depreciation of building and tenant improvements and equipment 743,812 648,277 1,397,208 1,281,725
Amortization of leasing costs 208,150 77,246 286,083 157,206
Professional fees, including amounts to a related party 71,677 36,800 154,358 84,668
Miscellaneous 12,887   15,887 3,000
Total expenses 2,447,896 2,203,810 4,684,380 4,417,237
Net Loss (315,647) (71,574) (419,862) (152,757)
Income (loss) per $10,000 participation unit, based on 700 participation units outstanding during each period $ (450.92) $ (102.25) $ (599.80) $ (218.22)
Distributions per $10,000 participation unit consisted of the following:        
Income $ 0 $ 0 $ 0 $ 0
Return of capital $ 373.72 $ 373.72 $ 747.44 $ 747.44
Total distributions $ 373.72 $ 373.72 $ 747.44 $ 747.44