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Other Assets (Tables) | 9 Months Ended
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Sep. 30, 2023
Other Assets [Abstract] |
Schedule of Other Assets | The following table summarizes the Partnership’s other assets as of September 30, 2023 and December 31, 2022:
|  | September 30, 2023 |  |  | December 31, 2022 |
Deferred financing costs, net |  | $ | 898,982 |  |  | $ | 964,266 |
Derivative instruments at fair value (Note 18) |  |  | 14,348,619 |  |  |  | 7,530,438 |
Taxable mortgage revenue bonds, at fair value |  |  | 17,611,663 |  |  |  | 16,531,896 |
Taxable governmental issuer loans: |  |  |  |  |  |
Taxable governmental issuer loans |  |  | 13,573,000 |  |  |  | 8,000,000 |
Allowance for credit losses (Note 13) |  |  | (86,000 | ) |  |  | - |
Taxable governmental issuer loans, net |  |  | 13,487,000 |  |  |  | 8,000,000 |
Bond purchase commitment, at fair value (Note 19) |  |  | - |  |  |  | 98,929 |
Other assets |  |  | 1,794,114 |  |  |  | 2,649,138 |
Total other assets |  | $ | 48,140,378 |  |  | $ | 35,774,667 |
Summary of Taxable MRB and GIL Acquired | The following table includes details of the taxable MRBs acquired during the nine months ended September 30, 2023:
Property Name |  | Month Acquired |  | Property Location |  | Units |  | Maturity Date |  | Interest Rate |  | Initial Principal Funding |
Windsor Shores Apartments - Series B |  | January 2023 |  | Columbia, SC |  | 176 |  | 2/1/2030 |  | 6.50% |  | $ | 805,000 |
Village at Hanford Square - Series H-T (1) |  | May 2023 |  | Hanford, CA |  | 100 |  | 5/1/2030 |  | 7.25% |  |  | 1,000,000 |
40rty on Colony - Series P-T (2) |  | June 2023 |  | La Mesa, CA |  | 40 |  | 6/1/2030 |  | 7.45% |  |  | 1,000,000 |
Subtotal |  |  |  |  |  |  |  |  |  |  |  | $ | 2,805,000 |
(1) The Partnership has committed to provide total funding for the taxable MRB of $10.4 million (see Note 19). The Partnership has committed to provide total funding for the taxable MRB of $6.0 million (see Note 19). The following table includes details of the taxable MRBs and taxable GILs acquired during the nine months ended September 30, 2022:
Property Name |  | Date Committed |  | Maturity Date |  | Initial Principal Funding |  |  | Total Commitment |
Taxable MRBs |  |  |  |  |  |  |  |
Live 929 Apartments - Series 2022B |  | January 2022 |  | 1/1/2029 |  | $ | 3,625,000 |  |  | $ | 3,625,000 |
Residency at the Entrepreneur - Series J-T (1) |  | April 2022 |  | 4/1/2025 |  | $ | 1,000,000 |  |  |  | 13,000,000 |
Subtotal |  |  |  |  |  |  |  |  | $ | 16,625,000 |
Taxable GILs |  |  |  |  |  |  |  |
Poppy Grove I (1) |  | September 2022 |  | 4/1/2025 |  | $ | 1,000,000 |  |  | $ | 21,157,672 |
Poppy Grove II (1) |  | September 2022 |  | 4/1/2025 |  | $ | 1,000,000 |  |  |  | 10,941,300 |
Poppy Grove III (1) |  | September 2022 |  | 4/1/2025 |  | $ | 1,000,000 |  |  |  | 24,480,493 |
Subtotal |  |  |  |  |  |  |  |  | $ | 56,579,465 |
(1) The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.

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