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Governmental Issuer Loans - Summary of Partnership's GIL Investments (Details) | 6 Months Ended | 12 Months Ended
--- | --- | ---
Jun. 30, 2024 USD ($) Unit | Dec. 31, 2023 USD ($) Unit
Governmental Issuer Loans [Line Items] |  |  |  |  |
Amortized Cost |  | $ 213,446,300 |  | $ 221,653,300 |
Governmental Issuer Loans [Member] | TOB Trust [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Units | Unit |  | 1,539 |  | 1,627 |
Amortized Cost |  | $ 214,557,300 |  | $ 222,947,300 |
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | St. Paul, MN [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired | [1] | January 2021 |  | January 2021 |
Units | Unit | [1] | 247 |  | 247 |
Maturity Date | [1] | Aug. 01, 2024 | [2] | Feb. 01, 2024 | [3]
Current Interest Rate | [1] | 8.41% |  | 8.46% |
Amortized Cost | [1] | $ 34,620,000 |  | $ 34,620,000 |
Governmental Issuer Loans [Member] | Legacy Commons at Signal Hills [Member] | TOB Trust [Member] | SOFR [Member] | St. Paul, MN [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate | [1] | 3.07% | [4] | 3.07% | [5]
Governmental Issuer Loans [Member] | Willow Place Apartments Supplemental [Member] | TOB Trust [Member] | McDonough, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | November 2023 |  | November 2023 |
Maturity Date |  | Oct. 01, 2024 | [2] | Oct. 01, 2024 | [3]
Current Interest Rate |  | 8.78% |  | 8.76% |
Amortized Cost |  | $ 1,500,000 |  | $ 1,500,000 |
Governmental Issuer Loans [Member] | Willow Place Apartments Supplemental [Member] | TOB Trust [Member] | SOFR [Member] | McDonough, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate |  | 3.45% | [4] | 3.45% | [5]
Governmental Issuer Loans [Member] | Hope on Avalon [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Maturity Date |  | Feb. 01, 2024 |  |  |
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | Los Angeles, CA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  |  |  | January 2021 |
Units | Unit |  |  |  | 88 |
Maturity Date | [3] |  |  | Feb. 01, 2024 |
Current Interest Rate |  |  |  | 7.62% |
Amortized Cost |  |  |  | $ 23,390,000 |
Governmental Issuer Loans [Member] | Hope on Avalon [Member] | TOB Trust [Member] | SIFMA [Member] | Los Angeles, CA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate | [5] |  |  | 3.75% |
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | Kissimmee FL [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | July 2021 | [1] | July 2021 | [6]
Units | Unit |  | 383 | [1] | 383 | [6]
Maturity Date |  | Aug. 01, 2024 | [1],[2] | Aug. 01, 2024 | [3],[6]
Current Interest Rate |  | 8.40% | [1] | 8.38% | [6]
Amortized Cost |  | $ 60,000,000 | [1] | $ 60,000,000 | [6]
Governmental Issuer Loans [Member] | Osprey Village [Member] | TOB Trust [Member] | SOFR [Member] | Kissimmee FL [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate |  | 3.07% | [1],[4] | 3.07% | [5],[6]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | McDonough, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | September 2021 | [1] | September 2021 | [6]
Units | Unit |  | 182 | [1] | 182 | [6]
Maturity Date |  | Oct. 01, 2024 | [1],[2] | Oct. 01, 2024 | [3],[6]
Current Interest Rate |  | 8.63% | [1] | 8.61% | [6]
Amortized Cost |  | $ 25,000,000 | [1] | $ 25,000,000 | [6]
Governmental Issuer Loans [Member] | Willow Place Apartments [Member] | TOB Trust [Member] | SOFR [Member] | McDonough, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate |  | 3.30% | [1],[4] | 3.30% | [5],[6]
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | Covington, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | June 2022 | [1] | June 2022 | [6]
Units | Unit |  | 200 | [1] | 200 | [6]
Maturity Date |  | Oct. 01, 2024 | [1],[2] | Jul. 01, 2024 | [3],[6]
Current Interest Rate |  | 9.18% | [1] | 9.16% | [6]
Amortized Cost |  | $ 20,400,000 | [1] | $ 20,400,000 | [6]
Governmental Issuer Loans [Member] | Magnolia Heights [Member] | TOB Trust [Member] | SOFR [Member] | Covington, GA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Variable rate |  | 3.85% | [1],[4] | 3.85% | [5],[6]
Governmental Issuer Loans [Member] | Poppy Grove I [Member] | TOB Trust [Member] | Elk Grove, CA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | September 2022 | [1],[7] | September 2022 | [6],[8]
Units | Unit |  | 147 | [1],[7] | 147 | [6],[8]
Maturity Date |  | Apr. 01, 2025 | [1],[2],[7] | Apr. 01, 2025 | [3],[6],[8]
Variable rate |  | 6.78% | [1],[4],[7] | 6.78% | [5],[6],[8]
Current Interest Rate |  | 6.78% | [1],[7] | 6.78% | [6],[8]
Amortized Cost |  | $ 27,846,000 | [1],[7] | $ 19,846,000 | [6],[8]
Governmental Issuer Loans [Member] | Poppy Grove II [Member] | TOB Trust [Member] | Elk Grove, CA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | September 2022 | [1],[7] | September 2022 | [6],[8]
Units | Unit |  | 82 | [1],[7] | 82 | [6],[8]
Maturity Date |  | Apr. 01, 2025 | [1],[2],[7] | Apr. 01, 2025 | [3],[6],[8]
Variable rate |  | 6.78% | [1],[4],[7] | 6.78% | [5],[6],[8]
Current Interest Rate |  | 6.78% | [1],[7] | 6.78% | [6],[8]
Amortized Cost |  | $ 12,541,300 | [1],[7] | $ 9,541,300 | [6],[8]
Governmental Issuer Loans [Member] | Poppy Grove III [Member] | TOB Trust [Member] | Elk Grove, CA [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | September 2022 | [1],[7] | September 2022 | [6],[8]
Units | Unit |  | 158 | [1],[7] | 158 | [6],[8]
Maturity Date |  | Apr. 01, 2025 | [1],[2],[7] | Apr. 01, 2025 | [3],[6],[8]
Variable rate |  | 6.78% | [1],[4],[7] | 6.78% | [5],[6],[8]
Current Interest Rate |  | 6.78% | [1],[7] | 6.78% | [6],[8]
Amortized Cost |  | $ 20,550,000 | [1],[7] | $ 16,550,000 | [6],[8]
Governmental Issuer Loans [Member] | Sandy Creek Apartments [Member] | TOB Trust [Member] | Bryan, TX [Member] |  |  |  |  |
Governmental Issuer Loans [Line Items] |  |  |  |  |
Month Acquired |  | August 2023 | [1] | August 2023 | [6]
Units | Unit |  | 140 | [1] | 140 | [6]
Maturity Date |  | Sep. 01, 2026 | [1],[2] | Sep. 01, 2026 | [3],[6]
Variable rate |  | 7.83% | [1],[4],[9] | 7.83% | [5],[6],[10]
Current Interest Rate |  | 7.83% | [1] | 7.83% | [6]
Amortized Cost |  | $ 12,100,000 | [1] | $ 12,100,000 | [6]
[1] | The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19).
[2] | The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee.
[3] | The borrowers may elect to extend the maturity dates by six months upon meeting certain conditions, which may include payment of a non-refundable extension fee.
[4] | The variable index interest rate components are typically subject to floors that range from 0.25% to 0.50%.
[5] | The variable index interest rate components are typically subject to floors that range from 0% to 0.85%.
[6] | The Freddie Mac servicer that has forward committed to purchase the GIL at maturity is an affiliate of the Partnership (Note 19).
[7] | The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $3.8 million, $2.2 million, and $4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively.
[8] | The Partnership has agreed to provide a subordinate GIL after the execution of Freddie Mac’s forward purchase commitment if needed by the property. The potential subordinate GIL amounts are up to $3.8 million, $2.2 million, and $4.2 million for Poppy Grove I, Poppy Grove II, and Poppy Grove III, respectively.
[9] | The interest rate will convert to a variable rate of Term SOFR + 2.80% on February 1, 2025.
[10] | The interest rate will convert to a variable rate of Term SOFR + 2.80% on February 1, 2025.

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