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Subsequent Events | 3 Months Ended
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Mar. 31, 2023
Subsequent Events [Abstract] |
Subsequent Events | 25. Subsequent Events In April 2023, the Partnership originated MRB investments for the construction, rehabilitation, and permanent financing of two affordable multifamily properties. The Partnership funded its investment with available cash. The following table summarizes the terms of the Partnership’s MRB investments:
Property Name |  | Month Acquired |  | Property Location |  | Units |  |  | Maturity Date |  | Interest Rate |  | Principal Funded |
Handsel Morgan Village - MRB |  | April |  | Buford, GA |  |  | 45 |  |  | 3/1/2041 |  | 6.75% |  | $ | 2,150,000 |
Maryalice Circle - MRB |  | April |  | Buford, GA |  |  | 98 |  |  | 3/1/2041 |  | 6.75% |  |  | 5,900,000 |
|  |  |  |  |  |  |  |  |  |  |  |  | $ | 8,050,000 |
In April 2023, the Partnership entered into an additional interest rate swap agreement to mitigate interest rate risk associated with variable rate TOB trust financings. The following table summarizes the terms of the interest rate swap agreement:
Purchase Date |  | Notional Amount |  |  | Effective Date |  | Termination Date |  | Fixed Rate Paid |  | Variable Rate Index Received |  | Variable Debt Financing Hedged |  | Counterparty
April 2023 |  | $ | 4,508,000 |  |  | 5/1/2023 |  | 5/1/2033 |  | 3.490% |  | Compounded SOFR |  | TOB Trusts |  | Mizuho Capital Markets
In April 2023, the Partnership received notice from a holder of Series A Preferred Units of its intent to redeem 1,000,000 of its Series A Preferred Units in the amount of $10.0 million. The redemption is scheduled to occur in October 2023. In April 2023, the Partnership extended the Jackson Manor Apartments TOB trust financing maturity date from April 2023 to June 2023. There were no additional changes to terms or fees associated with the extension of the TOB trust financing.

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- Definition The entire disclosure for significant events or transactions that occurred after the balance sheet date through the date the financial statements were issued or the date the financial statements were available to be issued. Examples include: the sale of a capital stock issue, purchase of a business, settlement of litigation, catastrophic loss, significant foreign exchange rate changes, loans to insiders or affiliates, and transactions not in the ordinary course of business. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -URI https://asc.fasb.org/topic&trid=2122774 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Publisher FASB -Name Accounting Standards Codification -Topic 855 -SubTopic 10 -Section 50 -Paragraph 2 -Subparagraph (a) -URI https://asc.fasb.org/extlink&oid=6842918&loc=SL6314017-165662 + Details
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