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Accounts Payable, Accrued Expenses and Other Liabilities
 12 Months Ended
Dec. 31, 2024
Payables and Accruals [Abstract]  
Accounts Payable, Accrued Expenses and Other Liabilities

11. Accounts Payable, Accrued Expenses and Other Liabilities

The following table summarizes the Partnership’s accounts payable, accrued expenses and other liabilities as of December 31, 2024 and 2023:

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Accounts payable

 

$

2,183,546

 

 

$

1,518,267

 

Accrued expenses

 

 

5,076,445

 

 

 

4,104,945

 

Accrued interest expense

 

 

7,529,123

 

 

 

7,935,327

 

Deferred gain on sale of MF Property

 

 

6,596,622

 

 

 

6,596,622

 

Reserve for credit losses on unfunded commitments (Note 10)

 

 

186,000

 

 

 

678,000

 

Derivative instruments at fair value (Note 15)

 

 

609,766

 

 

 

705,694

 

Other liabilities

 

 

1,299,266

 

 

 

1,419,233

 

Total accounts payable, accrued expenses and other liabilities

 

$

23,480,768

 

 

$

22,958,088

 

 

See Note 10 for information regarding the Partnership’s allowance for credit losses related to its unfunded commitments.