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Other Assets (Tables) | 12 Months Ended
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Dec. 31, 2022
Other Assets [Abstract] |
Schedule of Other Assets | The following table summarizes the Partnership’s other assets as of December 31, 2022 and 2021:
|  | December 31, 2022 |  |  | December 31, 2021 |
Deferred financing costs, net |  | $ | 964,266 |  |  | $ | 1,349,097 |
Derivative instruments at fair value (Note 17) |  |  | 7,530,438 |  |  |  | 343,418 |
Taxable mortgage revenue bonds, at fair value |  |  | 16,531,896 |  |  |  | 3,428,443 |
Taxable governmental issuer loans |  |  | 8,000,000 |  |  |  | 1,000,000 |
Bond purchase commitments, at fair value (Note 18) |  |  | 98,929 |  |  |  | 964,404 |
Operating lease right-of-use assets, net |  |  | - |  |  |  | 1,619,714 |
Other assets |  |  | 2,649,138 |  |  |  | 2,157,809 |
Total other assets |  | $ | 35,774,667 |  |  | $ | 10,862,885 |
Summary of Taxable Governmental Issuer Loan and MRB, and Total Funding Commitment | The following table includes details of the taxable MRBs and taxable GILs, that were acquired during the year ended December 31, 2022:
Property Name |  | Month Acquired |  | Property Location |  | Units |  | Maturity Date |  | Interest Rate |  | Initial Principal Funding |
Taxable MRBs |  |  |  |  |  |  |  |  |  |  |
Live 929 Apartments - Series 2022B |  | January 2022 |  | Baltimore, MD |  | 575 |  | 1/1/2029 |  | 4.30% |  | $ | 3,625,000 |
Residency at the Entrepreneur - Series J-T (1) |  | April 2022 |  | Los Angeles, CA |  | 200 |  | 4/1/2025 |  | SOFR + 3.65% |  |  | 1,000,000 |
Park at Sondrio - Series 2022B |  | December 2022 |  | Greenville, SC |  | 271 |  | 1/1/2030 |  | 6.50% |  |  | 1,100,000 |
Park at Vietti - Series 2022B |  | December 2022 |  | Spartanburg, SC |  | 204 |  | 1/1/2030 |  | 6.50% |  |  | 880,000 |
Residency at Empire - Series BB-T (3) |  | December 2022 |  | Burbank, CA |  | 148 |  | 12/1/2025 |  | 7.45% |  |  | 1,000,000 |
Subtotal |  |  |  |  |  |  |  |  |  |  |  | $ | 7,605,000 |
Taxable GILs |  |  |  |  |  |  |  |  |  |  |
Poppy Grove I (2) |  | September 2022 |  | Elk Grove, CA |  | 147 |  | 4/1/2025 |  | 6.78% |  | $ | 1,000,000 |
Poppy Grove II (2) |  | September 2022 |  | Elk Grove, CA |  | 82 |  | 4/1/2025 |  | 6.78% |  |  | 1,000,000 |
Poppy Grove III (2) |  | September 2022 |  | Elk Grove, CA |  | 158 |  | 4/1/2025 |  | 6.78% |  |  | 1,000,000 |
Subtotal |  |  |  |  |  |  |  |  |  |  |  | $ | 3,000,000 |
(1) The Partnership has committed to provide total funding for this taxable MRB of $13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92%. (2) The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $21.2 million, $10.9 million, and $24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees. (3) The Partnership has committed to provide total funding for the taxable MRB of $9.4 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. Activity in 2021
Summary of Taxable MRB Acquired | The following table includes details of the taxable MRB and taxable GIL acquired during the year ended December 31, 2021:
Property Name |  | Date Committed |  | Maturity Date |  | Initial Principal Funding |  |  | Total Commitment |
Hope on Avalon - taxable GIL |  | January 2021 |  | 2/1/2023 (1) |  | $ | 1,000,000 |  |  | $ | 10,573,000 |
Residency at the Mayer Series A-T - taxable MRB |  | October 2021 |  | 4/1/2024 (2) |  |  | 1,000,000 |  |  |  | 12,500,000 |
|  |  |  |  |  |  |  |  | $ | 23,073,000 |
(1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. (2) The borrower may elect to extend the maturity date six months if stabilization has not occurred, subject to the Partnership's approval.

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