XML 54 R44.htm IDEA: XBRL DOCUMENT

Other Assets (Tables)

9 Months Ended

Sep. 30, 2023

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

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.