BRAUVIN INCOME PROPERTIES LP 6
10-Q, 1995-08-14
REAL ESTATE
Previous: MARIETTA CORP, DEFC14A, 1995-08-14
Next: WERNER ENTERPRISES INC, 10-Q, 1995-08-14




                          UNITED STATES
                SECURITIES AND EXCHANGE COMMISSION
                     Washington, D.C.  20549

                            FORM 10-Q



[X]  Quarterly Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934

     For the quarterly period ended       June 30, 1995           

                                or

[ ]  Transition Report Pursuant to Section 13 or 15(d) of the
     Securities Exchange Act of 1934

     For the transition period from              to               


     Commission File Number   0-16857  

                 Brauvin Income Properties L.P. 6
     (Exact name of registrant as specified in its charter)

                Delaware                        36-1276801        
     (State or other jurisdiction of         (I.R.S. Employer
      incorporation or organization)         Identification No.)

     150 South Wacker Drive, Chicago, Illinois       60606       
     (Address of principal executive offices)     (Zip Code)

                              (312) 443-0922                      
       (Registrant's telephone number, including area code)

     Indicate by check mark whether the registrant (1) has filed
all reports required to be filed by Section 13 or 15(d) of the
Securities Exchange Act of 1934 during the preceding 12 months
(or for such shorter period that the registrant was required to
file such reports), and (2) has been subject to such filing
requirements for the past 90 days.  Yes  X   No    .

<PAGE>
                BRAUVIN INCOME PROPERTIES L.P. 6 

                             INDEX
                                                           Page

PART I     Financial Information

     Item 1.Financial Statements . . . . . . . . . .         3

            Balance Sheets at June 30, 1995 and 
            December 31, 1994. . . . . . . . . . . .         4

            Statements of Operations for the Six
            Months Ended June 30, 1995 and 1994. . .         5
                                                           
            Statements of Operations for the Three
            Months Ended June 30,1995 and 1994. . . .        6
                                                        
            Statement of Partners' Capital for the
            Period January 1,1995 to June 30, 1995 . .       7

            Statements of Cash Flows for the Six 
            Months Ended June 30,1995 and 1994. . . . .      8
                                                                  
            Notes to Financial Statements. . . . . . .       9

     Item 2.Management's Discussion and Analysis of 
            Financial Condition and Results of Operations.   12

PART II Other Information

     Item 1.Legal Proceedings . . . . . . . . . . . . .      15

     Item 2.Changes in Securities . . . . . . . . . . .      15

     Item 3.Defaults Upon Senior Securities . . . . . .      15

     Item 4.Submissions of Matters to a Vote of Security
            Holders . . . . . . . . . . . . . . . . . .      15

     Item 5.Other Information . . . . . . . . . . . . .      15

     Item 6.Exhibits and Reports on Form 8-K  . . . . .      15

SIGNATURES . . . . . . . . . . . . . . . . . . . . . .       16
                                
                 PART I - FINANCIAL INFORMATION



ITEM 1.Financial Statements

    Except for the December 31, 1994 Balance Sheet, the following
Balance Sheet as of June 30, 1995, Statements of Operations for
the six and three months ended June 30, 1995 and 1994, Statement
of Partners' Capital for the period January 1, 1995 to June 30,
1995 and Statements of Cash Flows for the six months ended June
30, 1995 and 1994 for Brauvin Income Properties L.P. 6 (the
"Partnership") are unaudited but reflect, in the opinion of the
management, all adjustments necessary to present fairly the
information required.  All such adjustments are of a normal
recurring nature.

    These financial statements should be read in conjunction with
the financial statements and notes thereto included in the
Partnership's 1994 Annual Report on Form 10-K.

<PAGE>
                 BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                          BALANCE SHEETS
                                 

                               June 30, 1995    December 31, 1994
                                (Unaudited)         (Audited)
ASSETS
Cash and cash equivalents      $ 1,786,962      $   445,771
Escrow and other deposits          241,446           74,840
Due from affiliates                 11,294           29,171
Tenant receivables                 174,000          269,955
Other assets                       180,308           71,536
Investment in (liability to) 
    joint venture                       --         (231,115)
                                 2,394,010          660,158
Investment in real estate, at cost:
  Land                           2,756,651        2,756,651
  Buildings                     10,596,134       10,596,134
                                13,352,785       13,352,785
Less: accumulated depreciation  (2,524,610)      (2,344,202)
Total investment in real 
   estate, net                  10,828,175       11,008,583
                                                                
Total Assets                   $13,222,185      $11,668,741


LIABILITIES AND PARTNERS' CAPITAL
Liabilities
Accounts payable and accrued 
  expenses                     $   150,628      $   108,644
Security deposits                    5,583            6,747
Mortgages payable                9,031,506        7,658,921

Total Liabilities                9,187,717        7,774,312

Partners' Capital
General Partners                     7,325            4,498
Limited Partners                 4,027,143        3,889,931
                                                                
Total Partners' Capital          4,034,468        3,894,429

Total Liabilities and 
    Partners' Capital          $13,222,185      $11,668,741


          See notes to financial statements (unaudited).

<PAGE>
                 BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                     STATEMENTS OF OPERATIONS
         For the Six Months Ended June 30, 1995 and 1994
                           (UNAUDITED)

                                                                  
                                 1995               1994  
INCOME
Rental                      $  908,448          $1,001,000
Interest                        27,121               1,994
Other, primarily expense
   reimbursements              177,038             221,581

    Total income             1,112,607           1,224,575

EXPENSES
Mortgage and other interest    486,804             395,370
Depreciation and amortization  185,868             195,803
Real estate taxes               64,800              63,601
Repairs and maintenance         12,514              12,166
Other property operating       177,868             125,542
General and administrative     133,178             133,993

    Total expenses           1,061,032             926,475

Net income before equity 
 interest in Joint Venture      51,575             298,100

Equity interest in Joint 
 Venture's net income (loss)   231,115             (83,196)

Net Income                  $  282,690          $  214,904

Net Income Per Limited 
 Partnership Interest
      (7,842.5 Units):          $35.69             $27.13





          See notes to financial statements (unaudited).

<PAGE>
                BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                     STATEMENTS OF OPERATIONS
        For the Three Months Ended June 30, 1995 and 1994
                           (UNAUDITED)

                                                                  
                                   1995                  1994  
INCOME
Rental                          $454,551            $  498,748
Interest                          21,344                   952
Other, primarily expense 
 reimbursements                   93,354                96,173

   Total income                  569,249               595,873

EXPENSES
Mortgage and other interest      223,849               202,857
Depreciation and amortization     92,099                94,622
Real estate taxes                 31,500                31,800
Repairs and maintenance            4,574                 8,327
Other property operating         103,340                65,074
General and administrative        73,555                72,834

   Total expenses                528,917               475,514

Net income before equity 
  interest in Joint Venture       40,332               120,359

Equity interest in Joint Venture's
  net income (loss)              233,753               (59,159)

Net Income                      $274,085            $   61,200

Net Income Per Limited 
  Partnership Interest
  (7,842.5 Units):                $34.59                 $7.73



          See notes to financial statements (unaudited).

<PAGE>
                 BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                  STATEMENT OF PARTNERS' CAPITAL
         For the Period January 1, 1995 to June 30, 1995
                           (UNAUDITED)

                        General       Limited
                        Partners      Partners          Total     

BALANCE at 
  January 1, 1995        $4,498       $3,889,931     $3,894,429

Net income                2,827          279,863        282,690
Cash distributions           --         (142,651)      (142,651)

BALANCE at 
  June 30, 1995          $7,325       $4,027,143     $4,034,468







Cash distribution per 
limited partnership 
interest: 1995            $ --          $ 18.19        $ 18.19
















          See notes to financial statements (unaudited).

<PAGE>
                 BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                     STATEMENTS OF CASH FLOWS
         For the Six Months Ended June 30, 1995 and 1994
                           (UNAUDITED)

                                                                  
                                       1995            1994  
Cash Flows From Operating Activities:
Net income                         $ 282,690          $214,904
Adjustments to reconcile net
 income to net cash provided by 
 operating activities:
Depreciation and amortization        185,868           195,803
Equity interest in Joint Venture's
 net(income)loss                    (231,115)           83,196
Changes in operating assets and 
  liabilities:
   Decrease (increase) in tenant
    receivables                       95,955           (54,896)
   Increase in escrow and other
    deposits                        (166,606)          (70,133)
   Decrease (increase) in due
    from affiliates                   17,877            (5,026)
   Decrease in other assets           43,721            12,247
   Increase in accounts payable                                   
    and accrued expenses              41,984            57,577
   Decrease in security deposits      (1,164)              (50)
Net cash provided by operating 
 activities                          269,210           433,622

Cash Flows From Financing Activities:
Repayment of mortgages            (4,727,415)          (59,868)
Proceeds from refinancing          6,100,000                --
Loan fees                           (157,953)               --
Cash distributions to Limited 
  Partners                          (142,651)         (163,512)
Net cash provided by (used in) 
  financing activities             1,071,981          (223,380)

Net increase in cash and cash 
  equivalents                      1,341,191           210,242
Cash and cash equivalents at 
  beginning of period                445,771           176,990
Cash and cash equivalents at
  end of period                  $1,786,962         $ 387,232



          See notes to financial statements (unaudited).

<PAGE>
                 BRAUVIN INCOME PROPERTIES L.P. 6
                 (a Delaware limited partnership)

                  NOTES TO FINANCIAL STATEMENTS
                           (UNAUDITED)

(1)BASIS OF PRESENTATION

     The accompanying unaudited financial statements have been
prepared in accordance with generally accepted accounting
principles for interim financial information and with the
instructions to Form 10-Q and Article 10 of Regulation S-X. 
Accordingly, they do not include all of the information and
footnotes required by generally accepted accounting principles
for complete financial statements.  In the opinion of management,
all adjustments(consisting of normal recurring accruals)
considered necessary for a fair presentation have been included. 
Operating results for the six month period ended June 30, 1995
are not necessarily indicative of the results that may be
expected for the year ended December 31, 1995.  For further
information, refer to the financial statements and footnotes
thereto included in the Annual Report on Form 10-K for the year
ended December 31, 1994.

(2)SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

 Reclassifications

     Certain amounts in the 1994 financial statements have been
reclassified to conform to the 1995 presentation.  This has not
affected the previously reported resulted of operations.

(3)MORTGAGE PAYABLE REFINANCING

     On April 6, 1995, the Partnership obtained a first mortgage
loan in the amount of $6,100,000 (the "First Mortgage Loan")
secured by Shoppes on the Parkway (the "Shoppes"), located in
Hilton Head,South Carolina, from Morgan Stanley Mortgage Capital,
Inc.  The First Mortgage Loan bears interest at the rate of 9.55%
per annum, amortizes over a 25-year period, requires monthly
payments of principal and interest of approximately $53,500 and
matures on April 6, 2002.  A portion of the proceeds of the First
Mortgage Loan, approximately $4,675,000, were used to retire the
existing mortgage secured by Shoppes from Crown Life Insurance
Company.

(4)TRANSACTIONS WITH AFFILIATES

     Fees and other expenses paid to the General Partners or its
affiliates for the six months ended June 30, 1995 and 1994 were
as follows:

                                           1995            1994
  Legal fees                          $   2,541       $     792
  Management fees                        75,523          77,183
  Reimbursable office expens             55,664          50,813

<PAGE>
     The Partnership believes the amounts paid to affiliates are
representative of amounts which would have been paid to
independent parties for similar services.  The Partnership had
made all payments to affiliates, except for $1,525 for legal
services, as of June 30, 1995.

(5)INVESTMENT IN AFFILIATED JOINT VENTURE

     The Partnership owned a 46% interest in Brauvin/The Annex of
Schaumburg (the "Joint Venture") and accounted for its investment
under the equity method. 

     On August 23, 1994, the Joint Venture filed a voluntary
petition for bankruptcy (Chapter 11) in the United States
Bankruptcy Court in the Northern District of Illinois.  On
February 10, 1995, the Bankruptcy Court ordered the dismissal of
the voluntary petition for bankruptcy effectively eliminating the
protection of the property from its creditors.   Also on February
10, 1995, AUSA Life Insurance Company ("AUSA")  filed a motion
for appointment of a receiver against the Joint Venture.  On
February 17, 1995 the motion was granted and an order was issued. 
The receiver had full power and authority to operate, manage and
conserve the Joint Venture's property (the "Annex")  pursuant to
the order. On February 15, 1995, the Joint Venture received an
amended notice of mortgage foreclosure from AUSA.  The Joint
Venture had until March 17, 1995 to file an answer to the amended
notice. The Joint Venture did not answer on or before March 17,
1995.  On April 3, 1995, a judgment of foreclosure and sale was
entered into against the Joint Venture.  A sheriff's sale of the
Annex was held on May 10, 1995 and on May 15, 1995 title was
transferred to AUSA.  As a result of these transactions, the
Joint Venture recorded a $2,649,000 provision for investment
property impairment to reduce the Annex property to its estimated
fair market value.  In addition, the Joint Venture recorded an
extraordinary gain on the extinguishment of debt in the amount of
$2,546,000, which was the net amount of the $2,350,000 fair
market value of the Annex property and the mortgage payable of
$4,896,000. Additionally, the Joint Venture had a final closing
of its accounting records which resulted in the reversal of
accrued revenue and expenses.  The major items reversed were
rental income, $34,000; real estate taxes, $439,000; and property
operating expenses, $64,000.

Also, in connection with the foreclosure of the Annex property,
AUSA repaid the $2,929,581 note payable held by John Hancock
Mutual Life Insurance Company (the "Lender").  In 1986 Stewart
Title Company (the "Title Company") assumed responsibility for
making the debt payments on this note payable.  In January 1994,
when the note was extended and the interest rate modified, the
Title Company and the Joint Venture agreed to equally share in
the 2.5% interest savings until the August 1, 1995 maturity. 
This interest savings plus the monthly defeasance payments not
received since January 1995 will be netted against payments made
by the Title Company for real estate taxes on the Annex.  The
repayment of the note payable had no effect on the Joint Venture
since it was recorded as a deposit to the Title Company and as a
note payable to the Lender in the financial statements.

<PAGE>
The following are condensed income statements for the Annex:

    INCOME STATEMENTS:
                                     Six Months Ended June 30,
                                          1995          1994    
    Rental income                       $196,246      $324,089
    Other income                          96,209       224,834
                                         292,455       548,923

    Mortgage and other interest           12,677       266,991
    Depreciation                          53,037        93,971
    Real estate taxes                   (313,135)      259,800
    Operating and administrative          (9,886)      109,021
    Provision for property impairment  2,649,046            --
                                       2,391,739       729,783

    Loss before extraordinary item    (2,099,284)     (180,860)

    Extraordinary gain on 
     extinguishment of debt            2,545,883            --
    Net income (loss)                  $ 446,599     $(180,860)

(6)SUBSEQUENT EVENT

     A cash distribution representing a return of capital is
anticipated to be made to the Limited Partners on August 15,
1995, in the amount of $1,000,000.

<PAGE>
ITEM 2. Management's Discussion and Analysis of Financial
Condition and Results of Operations.

Liquidity and Capital Resources

     The Partnership intends to satisfy its short-term liquidity
needs through cash reserves and cash flow from the properties.
The Partnership's mortgage debt which matured April 1995 was
refinanced on April 6, 1995, see Note 3 of Notes to Financial
Statements for more details.

     On August 23, 1994, the Joint Venture filed a voluntary
petition for bankruptcy (Chapter 11) in the United States
Bankruptcy Court in the Northern District of Illinois.  On
February 10, 1995, the Bankruptcy Court ordered the dismissal of
the voluntary petition for bankruptcy effectively eliminating the
protection of the property from its creditors.   Also on February
10, 1995, AUSA Life Insurance Company ("AUSA")  filed a motion
for appointment of a receiver against the Joint Venture.  On
February 17, 1995 the motion was granted and an order was issued. 
The receiver had full power and authority to operate, manage and
conserve the Joint Venture's property (the "Annex")  pursuant to
the order. On February 15, 1995, the Joint Venture received an
amended notice of mortgage foreclosure from AUSA.  The Joint
Venture had until March 17, 1995 to file an answer to the amended
notice. The Joint Venture did not answer on or before March 17,
1995.  On April 3, 1995, a judgment of foreclosure and sale was
entered into against the Joint Venture.  A sheriff's sale of the
Annex was held on May 10, 1995 and on May 15, 1995 title was
transferred to AUSA.  As a result of these transactions, the
Joint Venture recorded a $2,649,000 provision for investment
property impairment to reduce the Annex property to its estimated
fair market value.  In addition, the Joint Venture recorded an
extraordinary gain on the extinguishment of debt in the amount of
$2,546,000, which was the net amount of the $2,350,000 fair
market value of the Annex property and the mortgage payable of
$4,896,000. Additionally, the Joint Venture had a final closing
of its accounting records which resulted in the reversal of
accrued revenue and expenses.  The major items reversed were
rental income, $34,000; real estate taxes, $439,000; and property
operating expenses, $64,000. 

      Also, in connection with the foreclosure of the Annex
property, AUSA repaid the $2,929,581 note payable held by John
Hancock Mutual Life Insurance Company(the "Lender").  In 1986
Stewart Title Company (the "Title Company") assumed
responsibility for making the debt payments on this note payable. 
In January 1994, when the note was extended and the interest rate
modified, the Title Company and the Joint Venture agreed to
equally share in the 2.5% interest savings until the August 1,
1995 maturity.  This interest savings plus the monthly defeasance
payments not received since January 1995 will be netted against
payments made by the Title Company for real estate taxes on the
Annex.  The repayment of the note payable had no effect on the
Joint Venture since it was recorded as a deposit to the Title
Company and as a note payable to the Lender in the financial
statements. 

     The Partnership has paid annual cash distributions to
Limited Partners since 1986, as many (i.e., three of four) of the
Partnership's properties have been operating in strong retail
markets. 

<PAGE>
   Below is a table summarizing the historical data for
quarterly distribution rates of Operating Cash Flow per annum:

     Quarter
      Ended      1995      1994      1993      1992      1991

    March 31    5.00%     3.75%     5.00%     7.25%     7.25%

     June 30      --      3.75      4.00      6.00      7.25

  September 30              --      4.50      6.00      7.25

   December 31            2.00      4.50      5.00      7.25

   The trend of decreasing distributions is primarily attributed
to the poor performance of the Annex.

   A distribution of Operating Cash Flow for the second quarter
of 1995 was not made, however as a result of the refinancing of
the Shoppes mortgage, a return of capital distribution in the
amount of $1,000,000 is anticipated to be made to the Limited
Partners on August 15, 1995.  The Preferential Distribution
Deficiency equaled $3,267,848 at June 30, 1995, a $316,069
increase compared to December 31, 1994.

   The occupancy level at Del Champs at June 30, 1995 and
December 31, 1994 was 100%.  The Partnership is continuing to
work to sustain the occupancy level of Del Champs.  Del Champs
operated at a positive cash flow for the six months ended June
30, 1995.

   Shoppes continued to generate positive cash flow for the six
months ended June 30, 1995.  The occupancy level at Shoppes at
June 30, 1995 and December 31, 1994 was 100%.

   Ponderosa continues to operate at a positive cash flow for
the six months ended June 30, 1995.

   The General Partners of the Partnership expect to distribute
proceeds from operating cash flow, if any, and from the sale of
real estate, to Limited Partners in a manner that is consistent
with the investment objectives of the Partnership.  Management of
the Partnership believes that cash needs may arise from time to
time which will have the effect of reducing distributions to
Limited Partners to amounts less than would be available from
refinancings or sale proceeds.  These cash needs include, among
other things, maintenance of working capital reserves in
compliance with the Agreement as well as payments for major
repairs, tenant improvements and leasing commissions in support
of real estate operations.

Results of Operations - Six Months Ended June 30, 1995 and 1994
   (Amounts rounded to 000's)

   The Partnership generated net income of $283,000 for the six
months ended June 30, 1995 as compared to net income of $215,000
in 1994.  The $68,000 increase in net income resulted primarily
from a $314,000 increase in the Partnership's equity interest in
the Annex due primarily from the gain on extinguishment of the
Annex debt.  Offsetting this increase was a $92,000 increase in
mortgage and other interest expense and a $93,000 decrease in
rental income. 

    Total income for the six months ended June 30, 1995 was
$1,113,000 as compared to $1,225,000 in 1994, a decrease of
$112,000.  The $112,000 decrease in total income was primarily
the result of a $130,000 decrease in percentage rent income at
the Shoppes.  Also, contributing to the decline in total income
was a $20,000 decrease in tenant reimbursements at Del Champs. 
The decrease in percentage rent and tenant reimbursements were
partially offset by a $25,000 increase in interest income due
primarily to the short-term investment of the Shoppes refinancing
proceeds. 

   Total expenses incurred during the first six months of 1995
were $1,061,000 compared to $926,000 in 1994, an increase of
$135,000.  The $135,000 increase in expenses was partially the
result of mortgage and other interest expense increasing $92,000. 
The increase in mortgage and other interest expense resulted from
the combination of the Shoppes mortgage rate increasing to a
default interest rate prior to the April refinancing and the
increase in expense due to the new mortgage. 

Results of Operations - Three Months Ended June 30, 1995 and 1994
   (Amounts rounded to 000's)

   The Partnership generated net income of $274,000 in the
second quarter of 1995 as compared to $61,000 in 1994.  The
$213,000 increase in net income resulted primarily from the
Partnership's equity interest in the final closing of the Joint
Venture's accounting records upon the foreclosure of the Annex of
Schaumburg.

   Second quarter total income was $569,000 in 1995 as compared
to $596,000 in 1994, a decrease of $27,000.  The $27,000 decrease
was primarily the result of a $50,000 decline in percentage rent
income at the Shoppes which was partially offset by an increase
of $20,000 in interest income earned on the refinancing proceeds
from the Shoppes.

   Second quarter total expenses incurred in 1995 were $529,000
as compared to $476,000 in 1994, an increase of $53,000.  The
$53,000 increase was primarily a result of interest expense at
the Shoppes increasing $23,000 due to the increased loan balance
from the April refinancing.  An additional factor contributing to
the increase in expenses was the Partnership's write-off of
$18,000 of receivables due from the Joint Venture.

<PAGE>
            PART II - OTHER INFORMATION   

    ITEM 1.   Legal Proceedings.

                 None.

    ITEM 2.   Changes in Securities.

                 None.

    ITEM 3.   Defaults Upon Senior Securities.

                 None.

    ITEM 4.   Submission Of Matters To a Vote of Security
              Holders.

                 None.

    ITEM 5.   Other Information.

                 None.

    ITEM 6.   Exhibits and Reports On Form 8-K.

              Exhibit 27.  Financial Data Schedule

              The Partnership filed the following reports on Form
              8-K during the three months ended June 30, 1995:

                 1. On April 25, 1995, the Partnership filed 
                    Form 8-K dated April 6, 1995 which reported
                    as Item 5 the refinancing of the first
                    mortgage on the Shoppes on the Parkway.

                 2. On May 26, 1995, the Partnership filed
                    Form 8-K dated May 10, 1995 which reported
                    as Item 2 the disposition of the Annex of
                    Schaumburg as a result of a foreclosure
                    sale held on May 10, 1995.


<PAGE>
                                SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of
1934, the registrant has duly caused this report to be signed on
its behalf by the undersigned thereunto duly authorized.



              BY:   Brauvin 6, Inc.
                 Corporate General Partner of
                 Brauvin Income Properties L.P. 6 


                 BY:     /s/ Jerome J. Brault     
                    Jerome J. Brault
                    Chairman of the Board of Directors 
                    and President

                 DATE:   August 11, 1995



                 BY:     /s/ Thomas J. Coorsh     
                    Thomas J. Coorsh
                    Chief Financial Officer
                    and Treasurer

                 DATE:   August 11, 1995


<TABLE> <S> <C>

<ARTICLE>           5
       
<S>                 <C>
<PERIOD-TYPE>       6-MOS
<FISCAL-YEAR-END>   DEC-31-1995
<PERIOD-END>        JUN-30-1995
<CASH> 1,786,962            
<SECURITIES>     0                       <F1>
<RECEIVABLES>   174,000    
<ALLOWANCES>     0      
<INVENTORY>         0
<CURRENT-ASSETS>    0
<PP&E> 13,352,785        <F2>
<DEPRECIATION>2,524,610      
<TOTAL-ASSETS>    13,222,185
<CURRENT-LIABILITIES>    0
<BONDS> 9,031,506            <F3>
    0
         0
<COMMON>   4,034,468          <F4>
<OTHER-SE>          0
<TOTAL-LIABILITY-AND-EQUITY> 13,222,185 
<SALES>             0
<TOTAL-REVENUES> 1,112,607         <F5>
<CGS>               0
<TOTAL-COSTS> 574,228               <F6>
<OTHER-EXPENSES> 231,115             <F7>
<LOSS-PROVISION>    0
<INTEREST-EXPENSE> 486,804
<INCOME-PRETAX>     0
<INCOME-TAX>        0
<INCOME-CONTINUING> 0
<DISCONTINUED>      0
<EXTRAORDINARY>     0
<CHANGES>           0
<NET-INCOME> 282,690       
<EPS-PRIMARY>       0
<EPS-DILUTED>       0

<FN>
<F1>   "SECURITIES" REPRESENTS INVESTMENTS IN JOINT VENTURE
<F2>   "PP&E" REPRESENTS INVESTMENT IN REAL ESTATE [LAND AND
BUILDING]
<F3> "BONDS" REPRESENTS MORTGAGES PAYABLE
<F4>   "COMMON" REPRESENTS TOTAL PARTNERS CAPITAL
<F5>   "TOTAL REVENUES" REPRESENTS RENTAL, INTEREST, AND OTHER
INCOME
<F6>   "TOTAL COSTS" REPRESENTS TOTAL EXPENSES LESS TOTAL
INTEREST
EXPENSE
<F7>   "OTHER EXPENSES" REPRESENTS EQUITY INTEREST IN JOINT
       VENTURES' NET INCOME
</FN>
        

</TABLE>


© 2022 IncJournal is not affiliated with or endorsed by the U.S. Securities and Exchange Commission