Partners' Capital

9 Months Ended

Sep. 30, 2017

Partners' Capital Notes [Abstract]

Partners' Capital Notes Disclosure [Text Block]

(5)  Partners’ Capital –

For the nine months ended September 30, 2017 and 2016, the Partnership declared distributions of $730,702 and $786,569, respectively. The Limited Partners received distributions of $723,395 and $778,703 and the General Partners received distributions of $7,307 and $7,866 for the periods, respectively.  The Limited Partners' distributions represented $36.87 and $39.07 per Limited Partnership Unit outstanding using 19,622 and 19,929 weighted average Units in 2017 and 2016, respectively.  The distributions represented $2.41 and $17.87 per Unit of Net Income and $34.46 and $21.20 per Unit of return of contributed capital in 2017 and 2016, respectively.

As part of the distributions discussed above, the Partnership distributed net sale proceeds (from property sales completed in 2014) of $68,812 in 2017.  The Limited Partners received distributions of $68,124 and the General Partners received distributions of $688.  The Limited Partners’ distributions represented $3.47 per Unit.

On April 1, 2017, the Partnership repurchased a total of 20.00 Units for $17,616 from one Limited Partner in accordance with the Partnership Agreement.  The Partnership acquired these Units using Net Cash Flow from operations.  On April 1, 2016, the Partnership repurchased a total of 264.01 Units for $233,076 from 12 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 $178 and $2,355 in 2017 and 2016, respectively.