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Mortgages Payable
 9 Months Ended
Sep. 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 September 30, 2024 and December 31, 2023:

Property Mortgage Payables

 

Outstanding Mortgage
Payable as of
September 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

 

 

8.75

%

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