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Derivative Instruments (Tables)

3 Months Ended

Mar. 31, 2024

Derivative [Line Items]

Summary of Unrealized and Realized Gains and Losses of Partnership's Derivative Instruments

The following tables are a summary of the unrealized and realized gains and losses of the Partnership's derivative instruments for the three months ended March 31, 2024 and 2023:

		For the Three Months ended March 31, 2024
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(1,663,449	)		$	(4,604,445	)		$	(6,267,894	)
Interest rate cap			-				230				230
Total		$	(1,663,449	)		$	(4,604,215	)		$	(6,267,664	)

		For the Three Months ended March 31, 2023
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(829,480	)		$	3,430,002			$	2,600,522
Interest rate cap							5,965				5,965
Total return swaps			(1,323,351	)			-				(1,323,351	)
Total		$	(2,152,831	)		$	3,435,967			$	1,283,136

Summary of Partnership's Derivative Instruments

The following tables summarize the Partnership’s derivative instruments as of March 31, 2024 and December 31, 2023:

						Fair Value as of March 31, 2024
Contract Type		Notional Amount				Asset				Liability				Weighted Average Remaining Maturity (Years)
Swaps
SOFR			313,264,293			$	9,263,567			$	(224,845	)			3.04
Cap
4.5% SIFMA Rate Cap			72,988,749				35				-				0.42
			386,253,042			$	9,263,602			$	(224,845	)

						Fair Value as of December 31, 2023
Contract Type		Notional Amount				Asset				Liability				Weighted Average Remaining Maturity (Years)
Swaps
SOFR			333,250,226			$	5,254,398			$	(705,694	)			3.48
Cap
4.5% SIFMA Rate Cap			73,393,729				265				-				0.67
			406,643,955			$	5,254,663			$	(705,694	)

Summary of Average Notional Amount and Weighted Average Fixed Rate by Year

The following table summarizes the average notional amount and weighted average fixed rate by year for our interest rate swaps as of March 31, 2024:

Year		Average Notional				Weighted Average Fixed Rate Paid
Remainder of 2024		$	354,680,757				3.45	%
2025			297,636,631				3.31	%
2026			247,498,799				3.27	%
2027			162,100,466				3.31	%
2028			125,802,132				3.38	%
2029			103,872,299				3.38	%
2030			8,997,800				3.40	%

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Tabular disclosure of the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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Tabular disclosure of pertinent information about a derivative or group of derivatives on a disaggregated basis, such as for individual instruments, or small groups of similar instruments. May include a combination of the type of instrument, risks being hedged, notional amount, hedge designation, related hedged item, inception date, maturity date, or other relevant item.

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