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Property Loans - Summary of Partnership's Property Loans, Net of Allowances for Credit Losses (Details) - USD ($) | 9 Months Ended | 12 Months Ended |
--- | --- | --- | ---
Sep. 30, 2024 | Dec. 31, 2023 | Dec. 31, 2022
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | $ 55,687,603 |  | $ 122,556,204 |  |
Asset-Specific Allowance for Credit Losses |  | (495,000) |  | (495,000) |  |
Property Loan Principal, net of allowance |  | 55,192,603 |  | 122,061,204 |  |
The 50/50 MF Property [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 7,100,000 |  | 6,000,000 |  |
Property Loan Principal, net of allowance |  |  |  |  |  | $ 4,800,000
Live 929 Apartments [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 495,000 |  | 495,000 |  |
Senior Construction Financing [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 7,287,992 | [1] | 81,585,296 | [2] |
Property Loan Principal, net of allowance |  | 7,287,992 | [1] | 81,585,296 | [2] |
Senior Construction Financing [Member] | Magnolia Heights [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | 8,118,546 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 8,118,546 |  |
Maturity Date | [2] |  |  | Jul. 01, 2024 |  |
Senior Construction Financing [Member] | Magnolia Heights [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.85% |  |
Senior Construction Financing [Member] | Sandy Creek Apartments [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 7,287,992 | [1] | $ 2,419,876 | [2] |
Property Loan Principal, net of allowance |  | $ 7,287,992 | [1] | $ 2,419,876 | [2] |
Maturity Date |  | Sep. 01, 2026 | [1] | Sep. 01, 2026 | [2] |
Interest Rate |  | 8.63% | [1],[3] | 8.63% | [2],[4] |
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | $ 32,233,972 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 32,233,972 |  |
Maturity Date | [2] |  |  | Feb. 01, 2024 |  |
Senior Construction Financing [Member] | Legacy Commons at Signal Hills [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.07% |  |
Senior Construction Financing [Member] | Osprey Village [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | $ 14,998,296 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 14,998,296 |  |
Maturity Date | [2] |  |  | Aug. 01, 2024 |  |
Senior Construction Financing [Member] | Osprey Village [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.07% |  |
Senior Construction Financing [Member] | Osprey Village Supplemental [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | $ 4,600,000 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 4,600,000 |  |
Maturity Date | [2] |  |  | Aug. 01, 2024 |  |
Senior Construction Financing [Member] | Osprey Village Supplemental [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.22% |  |
Senior Construction Financing [Member] | Willow Place Apartments [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | $ 18,875,606 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 18,875,606 |  |
Maturity Date | [2] |  |  | Oct. 01, 2024 |  |
Senior Construction Financing [Member] | Willow Place Apartments [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.30% |  |
Senior Construction Financing [Member] | Willow Place Apartments Supplemental [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [2] |  |  | $ 339,000 |  |
Property Loan Principal, net of allowance | [2] |  |  | $ 339,000 |  |
Maturity Date | [2] |  |  | Oct. 01, 2024 |  |
Senior Construction Financing [Member] | Willow Place Apartments Supplemental [Member] | SOFR [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Interest Rate | [2] |  |  | 3.45% |  |
Mezzanine Financing [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [5] | $ 40,795,000 |  |  |  |
Property Loan Principal, net of allowance | [5] | 40,795,000 |  |  |  |
Mezzanine Financing [Member] | So La Impact Opportunity Zone Fund [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 33,545,000 | [5] | $ 34,045,000 | [6] |
Property Loan Principal, net of allowance |  | $ 33,545,000 | [5] | $ 34,045,000 | [6] |
Maturity Date |  | Dec. 30, 2024 | [5] | Dec. 30, 2024 | [6] |
Interest Rate |  | 7.875% | [5] | 7.875% | [6] |
Mezzanine Financing [Member] | The Centurion Foundation [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance | [5] | $ 7,250,000 |  |  |  |
Property Loan Principal, net of allowance | [5] | $ 7,250,000 |  |  |  |
Maturity Date | [5] | Jun. 15, 2039 |  |  |  |
Interest Rate | [5] | 10.50% |  |  |  |
Other [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | $ 7,604,611 |  | $ 6,925,908 |  |
Asset-Specific Allowance for Credit Losses |  | (495,000) |  | (495,000) |  |
Property Loan Principal, net of allowance |  | 7,109,611 |  | 6,430,908 |  |
Other [Member] | The 50/50 MF Property [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | 7,109,611 |  | 5,977,314 |  |
Property Loan Principal, net of allowance |  | $ 7,109,611 |  | $ 5,977,314 |  |
Maturity Date |  | Mar. 11, 2048 |  | Mar. 11, 2048 |  |
Interest Rate |  | 9.00% |  | 9.00% |  |
Other [Member] | Avistar (February 2013 Portfolio) [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  |  |  | $ 201,972 |  |
Property Loan Principal, net of allowance |  |  |  | $ 201,972 |  |
Maturity Date |  |  |  | Jun. 26, 2024 |  |
Interest Rate |  |  |  | 12.00% |  |
Other [Member] | Avistar (June 2013 Portfolio) [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  |  |  | $ 251,622 |  |
Property Loan Principal, net of allowance |  |  |  | $ 251,622 |  |
Maturity Date |  |  |  | Jun. 26, 2024 |  |
Interest Rate |  |  |  | 12.00% |  |
Other [Member] | Live 929 Apartments [Member] |  |  |  |  |  |
Accounts Notes And Loans Receivable [Line Items] |  |  |  |  |  |
Property loan receivable, outstanding balance |  | $ 495,000 |  | $ 495,000 |  |
Asset-Specific Allowance for Credit Losses |  | $ (495,000) |  | $ (495,000) |  |
Maturity Date |  | Jul. 31, 2049 |  | Jul. 31, 2049 |  |
Interest Rate |  | 8.00% |  | 8.00% |  |
[1] | The property loans are held in trust in connection with TOB trust financings (Note 13). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee.
[2] | The property loans are held in trust in connection with TOB trust financings (Note 13) with the exception of the Osprey Village Supplemental and Willow Place Apartments Supplemental property loans. The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0% to 0.50%. (2) The interest rate will convert to a variable rate of Term SOFR + 3.35% on February 1, 2025. (3) The property loan is held in trust in connection with a TOB trust financing (Note 13). The Partnership has accrued interest receivable related to its property loans of approximately $333,000 and approximately $1.7 million as of September 30, 2024 and December 31, 2023, respectively, that is reported as interest receivable, net in the Partnership’s condensed consolidated balance sheets. The Partnership has remaining commitments to provide additional funding of certain property loans on a draw-down basis during construction of the secured properties as of September 30, 2024. See Note 16 for further information regarding the Partnership’s remaining property loan funding commitments. See Note 10 for information regarding the Partnership’s allowance for credit losses related to its property loans. Activity in the First Nine Months of 2024 In June 2024, the Partnership executed a property loan to The Centurion Foundation, Inc. in the amount of $7.3 million to facilitate the purchase of a portfolio of nine essential healthcare support buildings located in eastern Pennsylvania that were then leased to an investment grade rated non-profit healthcare system. The Partnership’s loan is subordinate to the senior debt of the borrower which is secured by a first priority security interest in master lease payments guaranteed by the healthcare system.
[3] | The interest rate will convert to a variable rate of Term SOFR + 3.35% on February 1, 2025.
[4] | The interest rate will convert to a variable rate of Term SOFR + 3.35% on February 1, 2025.
[5] | The property loans are held in trust in connection with a TOB trust financing (Note 13).
[6] | The property loan is held in trust in connection with a TOB trust financing (Note 13).

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