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Derivative Instruments (Tables)

9 Months Ended

Sep. 30, 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 and nine months ended September 30, 2024 and 2023:

		For the Three Months ended September 30, 2024												For the Nine Months ended September 30, 2024
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions				Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(1,812,945	)		$	9,695,459			$	7,882,514			$	(5,150,745	)		$	4,880,396			$	(270,349	)
Interest rate cap			14,502				-				14,502				14,502				265				14,767
Total		$	(1,798,443	)		$	9,695,459			$	7,897,016			$	(5,136,243	)		$	4,880,661			$	(255,582	)

		For the Three Months ended September 30, 2023												For the Nine Months ended September 30, 2023
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions				Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(1,681,013	)		$	(4,312,984	)		$	(5,993,997	)		$	(3,783,987	)		$	(6,911,481	)		$	(10,695,468	)
Interest rate cap			-				76,387				76,387				-				90,587				90,587
Total return swaps			(1,291,775	)			-				(1,291,775	)			(3,935,115	)			-				(3,935,115	)
Total		$	(2,972,788	)		$	(4,236,597	)		$	(7,209,385	)		$	(7,719,102	)		$	(6,820,894	)		$	(14,539,996	)

Summary of Partnership's Derivative Instruments

The following tables summarize the Partnership’s derivative instruments as of September 30, 2024 and December 31, 2023:

						Fair Value as of September 30, 2024
Contract Type		Notional Amount				Asset				Liability				Weighted Average Remaining Maturity (Years)
Swaps
SOFR			392,782,208			$	2,704,180			$	(3,166,639	)			2.94
Cap
4.5% SIFMA Rate Cap			65,602,587				-				-				0.25
			458,384,795			$	2,704,180			$	(3,166,639	)

						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 September 30, 2024:

Year		Average Notional				Weighted Average Fixed Rate Paid
Remainder of 2024		$	406,596,769				3.54	%
2025			327,531,631				3.40	%
2026			277,393,799				3.37	%
2027			191,995,466				3.45	%
2028			155,697,132				3.55	%
2029			119,142,299				3.47	%
2030			19,392,800				3.77	%
2031			11,799,667				3.79	%
2032			9,583,000				3.71	%
2033			6,577,667				3.84	%
2034			2,537,500				3.91	%

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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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