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Accounts Payable, Accrued Expenses and Other Liabilities | 12 Months Ended
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Dec. 31, 2022
Payables and Accruals [Abstract] |
Accounts Payable, Accrued Expenses and Other Liabilities | 13. Accounts Payable, Accrued Expenses and Other Liabilities The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of December 31, 2022 and 2021:
|  | December 31, 2022 |  |  | December 31, 2021 |
Accounts payable |  | $ | 1,244,918 |  |  | $ | 1,234,111 |
Accrued expenses |  |  | 4,888,438 |  |  |  | 4,102,381 |
Accrued interest expense |  |  | 7,186,021 |  |  |  | 4,229,119 |
Operating lease liabilities |  |  | - |  |  |  | 2,151,991 |
Deferred gain on sale of MF Property |  |  | 6,596,622 |  |  |  | - |
Other liabilities |  |  | 1,817,507 |  |  |  | 1,946,610 |
Total accounts payable, accrued expenses and other liabilities |  | $ | 21,733,506 |  |  | $ | 13,664,212 |
As noted in Note 8, the Partnership sold 100% of its ownership interest in The 50/50 MF Property to an unrelated non-profit organization. The Partnership received an unsecured property loan upon sale (Note 10) payable from future net cash flows of the property. The Partnership has deferred the recognition of a gain on sale of $6.6 million which is equal to the difference between the fair value of consideration received less the net carrying value of the assets and liabilities transferred to the buyer. The Partnership will recognize the gain upon collection of the unsecured property loan principal from future property net cash flows. The 50/50 MF Property had a ground lease with the University of Nebraska-Lincoln with an initial lease term expiring in March 2048. The ground lease was assumed by the buyer upon the sale of The 50/50 MF Property in December 2022 (Note 8) and the Partnership derecognized the operating lease liability. The Partnership recognized expenses related to the ground lease of approximately $162,000 and $168,000 for the years ended December 31, 2022 and 2021, respectively, and are reported within “Real estate operating expenses” on the Partnership’s consolidated statements of operations.

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- Definition The entire disclosure for accounts payable and accrued liabilities at the end of the reporting period. + References Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef -Publisher FASB -Name Accounting Standards Codification -Topic 210 -SubTopic 10 -Section S99 -Paragraph 1 -Subparagraph (SX 210.5-02.19(a),20,24) -URI https://asc.fasb.org/extlink&oid=120391452&loc=d3e13212-122682 + Details
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