Document And Entity Information
Document And Entity Information | 3 Months Ended |
Mar. 31, 2022 | |
Document Information [Line Items] | |
Entity Central Index Key | 0000087047 |
Entity Registrant Name | SB PARTNERS |
Amendment Flag | false |
Current Fiscal Year End Date | --12-31 |
Document Fiscal Period Focus | Q1 |
Document Fiscal Year Focus | 2022 |
Document Type | 10-Q |
Document Quarterly Report | true |
Document Period End Date | Mar. 31, 2022 |
Document Transition Report | false |
Entity File Number | 0-8952 |
Entity Incorporation, State or Country Code | NY |
Entity Tax Identification Number | 13-6294787 |
Entity Address, Address Line One | 1 New Haven Avenue, Suite 102A |
Entity Address, City or Town | Milford |
Entity Address, State or Province | CT |
Entity Address, Postal Zip Code | 06460 |
City Area Code | 203 |
Local Phone Number | 283-9593 |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Small Business | false |
Entity Emerging Growth Company | false |
Entity Shell Company | false |
Consolidated Balance Sheets (Cu
Consolidated Balance Sheets (Current Period Unaudited) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Assets: | ||
Land | $ 470,000 | $ 470,000 |
Buildings, furnishings and improvements | 6,152,351 | 5,671,101 |
Less - accumulated depreciation | (2,765,573) | (2,724,450) |
Real Estate Investment Property, Net, Total | 3,856,778 | 3,416,651 |
Investment in Sentinel Omaha, LLC | 3,355,473 | 30,386,569 |
Investments, Total | 7,212,251 | 33,803,220 |
Other Assets - | ||
Cash and cash equivalents | 28,609,248 | 2,109,596 |
Other | 6,824 | 11,688 |
Total assets | 35,828,323 | 35,924,504 |
Liabilities: | ||
Accounts payable | 228,833 | 149,992 |
Tenant security deposit | 0 | 112,606 |
Distribution payable | 25,586,550 | 0 |
Total liabilities | 25,815,383 | 262,598 |
Partners' Equity (Deficit): | ||
Limited partner - 7,753 units | 10,030,084 | 35,675,742 |
General partner - 1 unit | (17,144) | (13,836) |
Total partners' equity | 10,012,940 | 35,661,906 |
Total liabilities and partners' equity | $ 35,828,323 | $ 35,924,504 |
Consolidated Balance Sheets (_2
Consolidated Balance Sheets (Current Period Unaudited) (Parentheticals) - shares | Mar. 31, 2022 | Dec. 31, 2021 |
Limited partner - units (in shares) | 7,753 | 7,753 |
General partner - units (in shares) | 1 | 1 |
Consolidated Statements of Oper
Consolidated Statements of Operations (Unaudited) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Revenues: | ||
Rental income | $ 274,891 | $ 302,623 |
Interest income | 641 | 2,005 |
Total revenues | 275,532 | 304,628 |
Expenses: | ||
Real estate operating expenses | 83,785 | 78,070 |
Depreciation | 41,123 | 41,123 |
Real estate taxes | 39,680 | 39,927 |
Management fees | 110,364 | 248,122 |
Other | 31,900 | 32,820 |
Total expenses | 306,852 | 440,062 |
Loss from operations | (31,320) | (135,434) |
Equity in net income (loss) of investment | (31,096) | 3,318,451 |
Decrease in reserve for value of investment | 0 | 1,496,294 |
Net income (loss) | (62,416) | 4,679,311 |
Income (loss) allocated to general partner | (8) | 604 |
Income (loss) allocated to limited partners | $ (62,408) | $ 4,678,707 |
Income (loss) per unit of limited partnership interest (basic and diluted) | ||
Net income (loss) (in dollars per share) | $ (8.05) | $ 603.55 |
Weighted Average Number of Units of Limited Partnership Interest Outstanding (in shares) | 7,753 | 7,753 |
Consolidated Statements of Chan
Consolidated Statements of Changes in Partners' Equity (Deficit) (Unaudited) - USD ($) | Limited Partner [Member]Units of Partnership [Member] | Limited Partner [Member]Cumulative Cash Distributions [Member] | Limited Partner [Member]Retained Earnings [Member] | Limited Partner [Member] | General Partner [Member]Units of Partnership [Member] | General Partner [Member]Cumulative Cash Distributions [Member] | General Partner [Member]Retained Earnings [Member] | General Partner [Member] | Total |
Balance (in shares) at Dec. 31, 2020 | 7,753 | 1 | |||||||
Balance at Dec. 31, 2020 | $ 119,968,973 | $ (114,822,586) | $ 46,434,595 | $ 51,580,982 | $ 10,000 | $ (26,764) | $ 4,979 | $ (11,785) | |
Net (loss) for the three months ended March 31, 2022 | 0 | 0 | 4,678,707 | 4,678,707 | 0 | 0 | 604 | 604 | $ 4,679,311 |
Distribution | 0 | (10,078,250) | 0 | (10,078,250) | 0 | 1,300 | 0 | 1,300 | |
Distribution | $ 0 | 10,078,250 | 0 | 10,078,250 | $ 0 | (1,300) | 0 | (1,300) | |
Balance (in shares) at Mar. 31, 2021 | 7,753 | 1 | |||||||
Balance at Mar. 31, 2021 | $ 119,968,973 | (124,900,836) | 51,113,302 | 46,181,439 | $ 10,000 | (28,064) | 5,583 | (12,481) | |
Balance (in shares) at Dec. 31, 2021 | 7,753 | 1 | |||||||
Balance at Dec. 31, 2021 | $ 119,968,973 | (161,337,586) | 77,044,355 | 35,675,742 | $ 10,000 | (32,764) | 8,928 | (13,836) | 35,661,906 |
Net (loss) for the three months ended March 31, 2022 | 0 | 0 | (62,408) | (62,408) | 0 | 0 | (8) | (8) | (62,416) |
Distribution | 0 | (25,583,250) | 0 | (25,583,250) | 0 | 3,300 | 0 | 3,300 | |
Distribution | $ 0 | 25,583,250 | 0 | 25,583,250 | $ 0 | (3,300) | 0 | (3,300) | |
Balance (in shares) at Mar. 31, 2022 | 7,753 | 1 | |||||||
Balance at Mar. 31, 2022 | $ 119,968,973 | $ (186,920,836) | $ 76,981,947 | $ 10,030,084 | $ 10,000 | $ (36,064) | $ 8,920 | $ (17,144) | $ 10,012,940 |
Consolidated Statements of Cash
Consolidated Statements of Cash Flows (Unaudited) - USD ($) | 3 Months Ended | 12 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Cash Flows From Operating Activities: | |||
Net income (loss) | $ (62,416) | $ 4,679,311 | |
Adjustments to reconcile net income (loss) to net cash provided by operating activities: | |||
Equity in net loss (income) of investment | 31,096 | (3,318,451) | |
(Decrease) in reserve for value of investment | 0 | (1,496,294) | |
Depreciation | 41,123 | 41,123 | |
Net decrease in other assets | 4,864 | 4,164 | |
Net increase (decrease) in accounts payable | 78,841 | 62,793 | |
Net (decrease) in tenant security deposit | (112,606) | 0 | |
Distributions from investment in Sentinel Omaha, LLC | 0 | 10,800,000 | |
Net cash provided by (used in ) operating activities | (19,098) | 10,772,646 | |
Cash Flows From Investing Activities: | |||
Return of investment in Sentinel Omaha | 27,000,000 | ||
Capital additions to real estate owned | (481,250) | 0 | |
Net cash provided by investing activities | 26,518,750 | 0 | |
Cash Flows From Financing Activities: | |||
Distribution paid to partners | 0 | (10,079,550) | |
Net cash used in financing activities | 0 | (10,079,550) | |
Net change in cash and cash equivalents | 26,499,652 | 693,096 | |
Cash and cash equivalents at beginning of period | 2,109,596 | 549,195 | $ 549,195 |
Cash and cash equivalents at end of period | $ 28,609,248 | $ 1,242,291 | $ 2,109,596 |
Note 1 - Organization and Signi
Note 1 - Organization and Significant Accounting Policies | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Organization, Consolidation and Presentation of Financial Statements Disclosure and Significant Accounting Policies [Text Block] | ( 1 SB Partners, a New York limited partnership, and its subsidiaries (collectively, the "Partnership" or the “Registrant”), have been engaged since April 1971 The consolidated financial statements included herein are unaudited; however, the information reflects all adjustments (consisting of normal recurring adjustments) that are, in the opinion of management, necessary to a fair presentation of the financial position, results of operations and cash flows for the interim periods. Certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the United States of America have been condensed or omitted pursuant to such rules and regulations, although management believes that the disclosures are adequate to make the information presented not 10 The results of operations for the three March 31, 2022 not For a discussion of the significant accounting and financial reporting policies of the Partnership, refer to the Annual Report on Form 10–K December 31, 2021. |
Note 2 - COVID-19
Note 2 - COVID-19 | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Unusual or Infrequent Items, or Both, Disclosure [Text Block] | ( 2 COVID- 19 The continuation of the COVID- 19 may may no not March 31, 2022. |
Note 3 - Common Area Maintenanc
Note 3 - Common Area Maintenance Reimbursements | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Revenue from Contract with Customer [Text Block] | ( 3 COMMON AREA MAINTENANCE REIMBURSEMENTS In connection with the adoption of ASC Topic 842, 842, 606, Revenue from Contracts with Customers not The following table provides a disaggregation of rental income recognized by the Partnership for the three March 31, 2022 2021: 2022 2021 Operating lease income: Fixed lease income (Base Rent) $ 213,667 $ 207,443 Variable lease income (Recoverable Costs) 61,224 95,180 Total Rental Income $ 274,891 $ 302,623 |
Note 4 - Investments in Real Es
Note 4 - Investments in Real Estate | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Real Estate Disclosure [Text Block] | ( 4 INVESTMENTS IN REAL ESTATE As of March 31, 2022, March 31, 2022 December 31, 2021. No. of Year of Real Estate at Cost Type Prop. Acquisition Description 3/31/2022 12/31/2021 Industrial flex property 1 2002 60,345 sf $ 6,622,351 $ 6,141,101 Less: Accumulated depreciation (2,765,573 ) (2,724,450 ) Investment in real estate $ 3,856,778 $ 3,416,651 The Partnership’s wholly owned property located in Maple Grove, Minnesota is 100% October 31, 2031. On February 28, 2022, October 31, 2024 October 31, 2031. fifth November 1, 2021 October 31, 2024 From November 1, 2021 October 31, 2022, From November 1, 2022 October 31, 2023, From November 1, 2023 October 31, 2024, Monthly base rent for the extended term increases approximately 3% per annum. The Partnership has agreed to provide a tenant improvement allowance of $175,000 for HVAC replacements. Tenant has a one five |
Note 5 - Assets Measured at Fai
Note 5 - Assets Measured at Fair Value | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Fair Value Measurement and Measurement Inputs, Recurring and Nonrecurring [Text Block] | ( 5 The accounting guidance for Fair Value Measurements establishes a framework for measuring fair value that includes a hierarchy used to classify the inputs used in determining fair value. The hierarchy prioritizes the inputs to valuation techniques used to measure fair value into three Fair value is defined as the price that would be received upon sale of an asset or paid upon transfer of a liability in an orderly transaction between market participants at the measurement date and in the principal or most advantageous market for that asset or liability. The fair value is calculated based on the assumptions that market participants would use in pricing the asset or liability, not The three ● Level 1 ● Level 2 ● Level 3 The following major categories of assets were measured at fair value as of March 31, 2022 December 31, 2021: Level 2: March 31, Significant 2022 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 3,355,473 $ 3,355,473 Total assets $ 3,355,473 $ 3,355,473 Level 2: December 31, Significant 2021 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 30,386,569 $ 30,386,569 Total assets $ 30,386,569 $ 30,386,569 The following is a reconciliation of the beginning and ending balances for assets measured at fair value using significant unobservable inputs (Level 2 March 31, 2022 December 31, 2021: Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2021 $ 59,615,139 $ (11,923,033 ) $ 47,692,106 Equity in net income of investment 19,251,430 - 19,251,430 Distribution from investment (48,480,000 ) - (48,480,000 ) Decrease in reserve - 11,923,033 11,923,033 Balance at December 31, 2021 30,386,569 - 30,386,569 Equity in net (loss) of investment (31,096 ) - (31,096 ) Distribution from investment (27,000,000 ) - (27,000,000 ) Balance at March 31, 2022 $ 3,355,473 $ - $ 3,355,473 |
Note 6 - Investment in Sentinel
Note 6 - Investment in Sentinel Omaha, LLC | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Equity Method Investments and Joint Ventures Disclosure [Text Block] | ( 6 In 2007, March 31, 2022 During the quarter ended March 31, 2022, The following are the condensed financial statements ( 000’s March 31, 2022 December 31, 2021 three March 31, 2022 2021. (Unaudited) (Audited) Balance Sheet March 31, 2022 December 31, 2021 Investment in real estate, net $ - $ 56,777 Cash and cash equivalents 8,962 37,268 Other assets 2,320 7,865 Other liabilities (99 ) (617 ) Members equity $ 11,183 $ 101,293 (Unaudited) (Unaudited) Statement of Operations March 31, 2022 March 31, 2021 Rent and other income $ 139 $ 4,890 Real estate operating expenses (235 ) (2,417 ) Other expenses (17 ) (160 ) Net realized income 34,412 - Net unrealized income (losses) (34,409 ) 8,749 Net increase (decrease) in net assets $ (110 ) $ 11,062 During April 2021, first During August 2021, one first During November 2021, first During January 2022 first |
Note 7 - Distribution Payable
Note 7 - Distribution Payable | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Distribution of Assets, Liabilities and Stockholders' Equity [Text Block] | ( 7 On March 22, 2022 March 22, 2022. June 2022. |
Note 8 - Subsequent Events
Note 8 - Subsequent Events | 3 Months Ended |
Mar. 31, 2022 | |
Notes to Financial Statements | |
Subsequent Events [Text Block] | ( 8 In April 2022 |
Note 3 - Common Area Maintena_2
Note 3 - Common Area Maintenance Reimbursements (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Disaggregation of Revenue [Table Text Block] | 2022 2021 Operating lease income: Fixed lease income (Base Rent) $ 213,667 $ 207,443 Variable lease income (Recoverable Costs) 61,224 95,180 Total Rental Income $ 274,891 $ 302,623 |
Note 4 - Investments in Real _2
Note 4 - Investments in Real Estate (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Schedule of Real Estate Properties [Table Text Block] | No. of Year of Real Estate at Cost Type Prop. Acquisition Description 3/31/2022 12/31/2021 Industrial flex property 1 2002 60,345 sf $ 6,622,351 $ 6,141,101 Less: Accumulated depreciation (2,765,573 ) (2,724,450 ) Investment in real estate $ 3,856,778 $ 3,416,651 |
Note 5 - Assets Measured at F_2
Note 5 - Assets Measured at Fair Value (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Notes Tables | |
Fair Value, Assets Measured on Recurring and Nonrecurring Basis [Table Text Block] | Level 2: March 31, Significant 2022 Unobservable (Unaudited) Inputs Total Assets Investment in Sentinel Omaha, LLC ("Omaha") $ 3,355,473 $ 3,355,473 Total assets $ 3,355,473 $ 3,355,473 Level 2: December 31, Significant 2021 Unobservable (Audited) Inputs Total Assets Investment in Sentinel Omaha, LLC $ 30,386,569 $ 30,386,569 Total assets $ 30,386,569 $ 30,386,569 |
Fair Value, Assets Measured on Recurring Basis, Unobservable Input Reconciliation [Table Text Block] | Investment in Reserve for Sentinel fair value Omaha, LLC of investment Total Balance at January 1, 2021 $ 59,615,139 $ (11,923,033 ) $ 47,692,106 Equity in net income of investment 19,251,430 - 19,251,430 Distribution from investment (48,480,000 ) - (48,480,000 ) Decrease in reserve - 11,923,033 11,923,033 Balance at December 31, 2021 30,386,569 - 30,386,569 Equity in net (loss) of investment (31,096 ) - (31,096 ) Distribution from investment (27,000,000 ) - (27,000,000 ) Balance at March 31, 2022 $ 3,355,473 $ - $ 3,355,473 |
Note 6 - Investment in Sentin_2
Note 6 - Investment in Sentinel Omaha, LLC (Tables) | 3 Months Ended |
Mar. 31, 2022 | |
Statement of Operations [Member] | |
Notes Tables | |
Real Estate Investment Financial Statements, Disclosure [Table Text Block] | (Unaudited) (Unaudited) Statement of Operations March 31, 2022 March 31, 2021 Rent and other income $ 139 $ 4,890 Real estate operating expenses (235 ) (2,417 ) Other expenses (17 ) (160 ) Net realized income 34,412 - Net unrealized income (losses) (34,409 ) 8,749 Net increase (decrease) in net assets $ (110 ) $ 11,062 |
Balance Sheet [Member] | |
Notes Tables | |
Real Estate Investment Financial Statements, Disclosure [Table Text Block] | (Unaudited) (Audited) Balance Sheet March 31, 2022 December 31, 2021 Investment in real estate, net $ - $ 56,777 Cash and cash equivalents 8,962 37,268 Other assets 2,320 7,865 Other liabilities (99 ) (617 ) Members equity $ 11,183 $ 101,293 |
Note 3 - Common Area Maintena_3
Note 3 - Common Area Maintenance Reimbursements - Disaggregation of Rental Income (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Rental income | $ 274,891 | $ 302,623 |
Fixed Lease Income Base Rent [Member] | ||
Fixed lease income (Base Rent) | 213,667 | 207,443 |
Variable Lease Income [Member] | ||
Variable lease income (Recoverable Costs) | $ 61,224 | $ 95,180 |
Note 4 - Investments in Real _3
Note 4 - Investments in Real Estate (Details Textual) - USD ($) | Feb. 28, 2022 | Oct. 31, 2024 | Nov. 01, 2023 | Oct. 31, 2023 | Nov. 01, 2022 | Oct. 31, 2022 | Mar. 31, 2022 | Nov. 01, 2021 |
Rent Increase, Yearly, Percentage | 3.00% | 3.00% | ||||||
Tenant Improvement Allowance | $ 175,000 | |||||||
Operating Lease Option to Extend Term (Year) | 5 years | |||||||
Sixth Amendment Lease [Member] | ||||||||
Lessee, Operating lease, Monthly payment | $ 71,222 | |||||||
Sixth Amendment Lease [Member] | Forecast [Member] | ||||||||
Lessee, Operating lease, Monthly payment | $ 75,560 | $ 73,359 | ||||||
Fifth Amendment Lease [Member] | Forecast [Member] | ||||||||
Lessee, Operating lease, Monthly payment | $ 66,688 | $ 64,745 | $ 62,859 |
Note 4 - Investments in Real _4
Note 4 - Investments in Real Estate - Summary of Investments in Real Estate (Details) | 3 Months Ended | |
Mar. 31, 2022USD ($)ft² | Dec. 31, 2021USD ($) | |
Less: Accumulated depreciation | $ (2,765,573) | $ (2,724,450) |
Investment in real estate | $ 3,856,778 | 3,416,651 |
Industrial Flex Property [Member] | ||
No. of Prop. | 1 | |
Year of Acquisition | 2002 | |
Description (Square Foot) | ft² | 60,345 | |
Investment in real estate, at cost | $ 6,622,351 | 6,141,101 |
Less: Accumulated depreciation | (2,765,573) | (2,724,450) |
Investment in real estate | $ 3,856,778 | $ 3,416,651 |
Note 5 - Assets Measured at F_3
Note 5 - Assets Measured at Fair Value - Fair Value Measurement of Assets (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 | Dec. 31, 2020 |
Total assets | $ 3,355,473 | $ 30,386,569 | |
Sentinel Omaha LLC [Member] | |||
Investment in Sentinel Omaha, LLC ("Omaha") | 3,355,473 | 30,386,569 | |
Total assets | 3,355,473 | 30,386,569 | |
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member] | |||
Investment in Sentinel Omaha, LLC ("Omaha") | 3,355,473 | 30,386,569 | $ 59,615,139 |
Total assets | $ 3,355,473 | $ 30,386,569 | $ 47,692,106 |
Note 5 - Assets Measured at F_4
Note 5 - Assets Measured at Fair Value - Reconciliation of Assets Measured at Fair Value (Details) - USD ($) | 1 Months Ended | 3 Months Ended | 12 Months Ended | |||
Jan. 31, 2022 | Nov. 30, 2021 | Aug. 31, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2021 | |
Balance | $ 30,386,569 | $ 30,386,569 | ||||
Equity in net income of investment | (31,096) | $ 3,318,451 | ||||
Distribution from investment | 0 | (10,800,000) | ||||
Decrease in reserve for value of investment | 0 | 1,496,294 | ||||
Balance | 3,355,473 | $ 30,386,569 | ||||
Sentinel Omaha LLC [Member] | ||||||
Balance, Investment in Sentinel Omaha, LLC | 30,386,569 | 30,386,569 | ||||
Balance | 30,386,569 | 30,386,569 | ||||
Distribution from investment | (27,000,000) | $ (18,410,000) | $ (21,900,000) | (27,000,000) | ||
Balance, Investment in Sentinel Omaha, LLC | 3,355,473 | 30,386,569 | ||||
Balance | 3,355,473 | 30,386,569 | ||||
Fair Value, Inputs, Level 3 [Member] | Sentinel Omaha LLC [Member] | ||||||
Balance, Investment in Sentinel Omaha, LLC | 30,386,569 | 30,386,569 | 59,615,139 | 59,615,139 | ||
Balance, Reserve for fair value of investment | 0 | 0 | (11,923,033) | (11,923,033) | ||
Balance | $ 30,386,569 | 30,386,569 | $ 47,692,106 | 47,692,106 | ||
Equity in net income of investment | (31,096) | 19,251,430 | ||||
Distribution from investment | (27,000,000) | (48,480,000) | ||||
Decrease in reserve for value of investment | 0 | |||||
(Increase) decrease in reserve for fair value investment | 11,923,033 | |||||
Balance, Investment in Sentinel Omaha, LLC | 3,355,473 | 30,386,569 | ||||
Balance | $ 3,355,473 | $ 30,386,569 |
Note 6 - Investment in Sentin_3
Note 6 - Investment in Sentinel Omaha, LLC (Details Textual) - USD ($) | 1 Months Ended | 3 Months Ended | |||||
Jan. 31, 2022 | Nov. 30, 2021 | Aug. 31, 2021 | Apr. 30, 2021 | Mar. 31, 2022 | Mar. 31, 2021 | Dec. 31, 2007 | |
Payments of Distributions to Affiliates | $ 0 | $ 10,079,550 | |||||
Proceeds from Equity Method Investment, Distribution | $ 0 | $ 10,800,000 | |||||
Sentinel Omaha LLC [Member] | |||||||
Investment Owned, at Cost | $ 37,200,000 | ||||||
Equity Method Investment, Ownership Percentage | 30.00% | 30.00% | 30.00% | 30.00% | |||
Payments of Distributions to Affiliates | $ 90,000,000 | $ 52,600,000 | $ 73,000,000 | $ 90,000,000 | |||
Proceeds from Equity Method Investment, Distribution | 27,000,000 | 18,410,000 | 21,900,000 | $ 27,000,000 | |||
Proceeds from Sale of Buildings | $ 57,350,000 | $ 34,500,000 | $ 77,235,000 | $ 47,250,000 |
Note 6 - Investment in Sentin_4
Note 6 - Investment in Sentinel Omaha, LLC - Balance Sheet (Details) - USD ($) | Mar. 31, 2022 | Dec. 31, 2021 |
Cash and cash equivalents | $ 28,609,248 | $ 2,109,596 |
Other assets | 6,824 | 11,688 |
Sentinel Omaha LLC [Member] | ||
Investment in real estate, net | 0 | 56,777,000 |
Cash and cash equivalents | 8,962,000 | 37,268,000 |
Other assets | 2,320,000 | 7,865,000 |
Other liabilities | (99,000) | (617,000) |
Members equity | $ 11,183,000 | $ 101,293,000 |
Note 6 - Investment in Sentin_5
Note 6 - Investment in Sentinel Omaha, LLC - Statement of Operations (Details) - USD ($) | 3 Months Ended | |
Mar. 31, 2022 | Mar. 31, 2021 | |
Rent and other income | $ 275,532 | $ 304,628 |
Real estate operating expenses | (83,785) | (78,070) |
Other expenses | (31,900) | (32,820) |
Net increase (decrease) in net assets | (62,416) | 4,679,311 |
Sentinel Omaha LLC [Member] | ||
Rent and other income | 139,000 | 4,890,000 |
Real estate operating expenses | (235,000) | (2,417,000) |
Other expenses | (17,000) | (160,000) |
Net realized income | 34,412,000 | 0 |
Net unrealized income (losses) | (34,409,000) | 8,749,000 |
Net increase (decrease) in net assets | $ (110,000) | $ 11,062,000 |
Note 7 - Distribution Payable (
Note 7 - Distribution Payable (Details Textual) | Mar. 22, 2022$ / shares |
Distribution Made to Limited Partner, Distributions Declared, Per Unit (in dollars per share) | $ 3,300 |