XML 30 R23.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Mortgages Payable
 6 Months Ended
Jun. 30, 2024
Mortgages Payable [Abstract]  
Mortgages Payable

14. Mortgages Payable

The following is a summary of the Partnership's mortgage payable, net of deferred financing costs, as of June 30, 2024 and December 31, 2023:

Property Mortgage Payables

 

Outstanding Mortgage
Payable as of
June 30, 2024, net

 

 

Outstanding Mortgage
Payable as of
December 31, 2023, net

 

 

Year
Acquired

 

Stated Maturity

 

Variable
/ Fixed

 

Period End
Rate

 

 

Vantage at San Marcos (1)

 

$

1,690,000

 

 

$

1,690,000

 

 

2020

 

November 2024

 

Variable

 

 

9.25

%

 
(1)
The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 3).