Partners' Capital

9 Months Ended

Sep. 30, 2016

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(5)  Partners’ Capital –

For the nine months ended September 30, 2016 and 2015, the Partnership declared distributions of $786,569 and $822,818, respectively.  The Limited Partners received distributions of $778,703 and $814,590 and the General Partners received distributions of $7,866 and $8,228 for the periods, respectively.  The Limited Partners' distributions represented $39.07 and $38.64 per Limited Partnership Unit outstanding using 19,929 and 21,083 weighted average Units in 2016 and 2015, respectively.  The distributions represented $17.87 and $16.54 per Unit of Net Income and $21.20 and $22.10 per Unit of contributed capital in 2016 and 2015, respectively.

As part of the distributions discussed above, the Partnership distributed net sale proceeds (from property sales completed in 2014) of $139,022 in 2015.  The Limited Partners received distributions of $137,632 and the General Partners received distributions of $1,390.  The Limited Partners’ distributions represented $6.51 per Unit.

On April 1, 2016, the Partnership repurchased a total of 264.01 Units for $233,076 from 12 Limited Partners in accordance with the Partnership Agreement.  On April 1, 2015, the Partnership repurchased a total of 1,118.25 Units for $902,509 from 27 Limited Partners. The Partnership acquired these Units using net sale proceeds.  The repurchases increase the remaining Limited Partners' ownership interest in the Partnership.  As a result of these repurchases and pursuant to the Partnership Agreement, the General Partners received distributions of $2,355 and $9,117 in 2016 and 2015, respectively.