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Mortgages Payable and Other Secured Financing
 3 Months Ended
Mar. 31, 2023
Mortgages Payable [Abstract]  
Mortgages Payable and Other Secured Financing

17. Mortgages Payable and Other Secured Financing

The Partnership has entered into a mortgage payable. The following is a summary of the mortgage payable, net of deferred financing costs, as of March 31, 2023 and December 31, 2022:

Property Mortgage Payables

 

Outstanding Mortgage
Payable as of
March 31, 2023, net

 

 

Outstanding Mortgage
Payable as of
December 31, 2022, net

 

 

Year
Acquired

 

Stated Maturity

 

Variable
/ Fixed

 

Period End
Rate

 

Vantage at San Marcos--Mortgage (1)

 

$

1,690,000

 

 

$

1,690,000

 

 

2020

 

November 2023

 

Variable

 

 

8.75

%
(1)
The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5).