Investment in Joint Ventures

9 Months Ended

Sep. 30, 2011

Equity Method Investments and Joint Ventures [Abstract]

Equity Method Investments Disclosure [Text Block]

INVESTMENT IN JOINT VENTURES

Summary of Financial Information

Condensed financial information for the joint ventures in which the Partnership held direct interests for the three months and nine months ended September 30, 2011 and 2010, respectively, is presented below:



	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Three Months Ended				Three Months Ended						Three Months Ended					Three Months Ended
	September 30,				September 30,						September 30,					September 30,
	2011		2010		2011			2010			2011		2010			2011			2010
Fund IX-X-XI-REIT Associates	$	—	$	—	$	(4,042	)	$	(2,431	)	$	3,397	$	(15,902	)	$	(645	)	$	(18,333	)
Fund X-XI Associates	—		—		12,761			(20,763		)	—		—			12,761			(20,763		)
	$	—	$	—	$	8,719		$	(23,194	)	$	3,397	$	(15,902	)	$	12,116		$	(39,096	)



	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Nine Months Ended				Nine Months Ended						Nine Months Ended					Nine Months Ended
	September 30,				September 30,						September 30,					September 30,
	2011		2010		2011			2010			2011		2010			2011			2010
Fund IX-X-XI-REIT Associates	$	—	$	—	$	(24,668	)	$	(15,561	)	$	1,354,512	$	(1,474,622	)	$	1,329,844		$	(1,490,183	)
Fund X-XI Associates	—		—		(17,044		)	27,313			—		—			(17,044		)	27,313
	$	—	$	—	$	(41,712	)	$	11,752		$	1,354,512	$	(1,474,622	)	$	1,312,800		$	(1,462,870	)

Condensed financial information for the joint venture in which the Partnership held an interest through its equity interest in Fund X-XI Associates for the three months and nine months ended September 30, 2011 and 2010, respectively, is presented below:



	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Three Months Ended				Three Months Ended						Three Months Ended					Three Months Ended
	September 30,				September 30,						September 30,					September 30,
	2011		2010		2011			2010			2011		2010			2011		2010
Fund X-XI-REIT Associates – Fremont	$	—	$	—	$	(2,855	)	$	(2,432	)	$	59,582	$	(89,864	)	$	56,727	$	(92,296	)



	Total Revenues				Income (Loss) From Continuing Operations						Income (Loss) From Discontinued Operations					Net Income (Loss)
	Nine Months Ended				Nine Months Ended						Nine Months Ended					Nine Months Ended
	September 30,				September 30,						September 30,					September 30,
	2011		2010		2011			2010			2011			2010		2011			2010
Fund X-XI-REIT Associates – Fremont	$	—	$	—	$	(14,269	)	$	(13,322	)	$	(61,494	)	$	134,735	$	(75,763	)	$	121,413

The Partnership allocates its share of net income, net loss, and gain on sale generated by the properties owned by the Joint Ventures to its Class A and Class B limited partners pursuant to the partnership agreement provisions outlined in Note 2. The components of income (loss) from discontinued operations recognized by the Joint Ventures are provided below:



	Nine Months Ended								Nine Months Ended
	September 30, 2011								September 30, 2010
	Operating Income (Loss)			Gain on Sale		Total			Operating Income (Loss)			Impairment Loss			Gain on Sale		Total
Fund IX-X-XI-REIT Associates	$	127,569		$	1,226,943	$	1,354,512		$	(26,405	)	$	(1,448,217	)	$	—	$	(1,474,622	)
Fund X-XI-REIT Associates - Fremont	(152,699		)	91,205		(61,494		)	134,735			—			—		134,735
	$	(25,130	)	$	1,318,148	$	1,293,018		$	108,330		$	(1,448,217	)	$	—	$	(1,339,887	)

- Definition

The entire disclosure for equity investment, or group of investments, for which combined disclosure is appropriate, including: (a) the name of each investee and percentage of ownership of common stock, (b) accounting policies for investments in common stock, (c) difference between the amount at which the investment is carried and the amount of underlying equity in net assets and the accounting treatment of the difference, (d) the total fair value of each identified investment for which a market value is available, (e) summarized information as to assets, liabilities, and results of operations of the investees (for investments in unconsolidated subsidiaries, common stock of joint ventures, or other investments using the equity method), and (f) material effects of possible conversions, exercises, or contingent issuances of the investee. Other disclosures include (a) the names of any investee in which the investor owns 20 percent or more of the voting stock and investment is not accounted for using the equity method, and the reasons why not, and (b) the names of any investee in which the investor owns less than 20 percent of the voting stock and the investment is accounted for using the equity method, and the reasons why it is.

+ References+ Details

WELLS REAL ESTATE FUND X L P 10-Q