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Real Estate Assets (Tables)
12 Months Ended
Dec. 31, 2024
Real Estate [Abstract]  
Real Estate Assets Owned by Partnership

The following tables summarize information regarding the Partnership’s real estate assets as of December 31, 2024 and 2023:

 

 

 

 

 

December 31, 2024

 

 

December 31, 2023

 

Property Name

 

Location

 

Land and Land
Improvements

 

 

Buildings and
Improvements

 

 

Carrying Value

 

 

Land and Land
Improvements

 

 

Buildings and
Improvements

 

 

Carrying Value

 

Vantage at San Marcos (1)

 

San Marcos, TX

 

 

2,660,615

 

 

 

1,136,167

 

 

 

3,796,782

 

 

 

2,660,615

 

 

 

946,043

 

 

 

3,606,658

 

Land held for development

 

Richland County, SC

 

 

1,109,482

 

 

 

-

 

 

 

1,109,482

 

 

 

1,109,482

 

 

 

-

 

 

 

1,109,482

 

 

 

 

 

 

 

 

 

 

 

$

4,906,264

 

 

 

 

 

 

 

 

$

4,716,140

 

Less accumulated depreciation

 

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

-

 

Real estate assets, net

 

 

 

 

 

 

 

 

 

$

4,906,264

 

 

 

 

 

 

 

 

$

4,716,140

 

(1)
The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information.
Schedule of Net Loss Exclusive of Gains on Sale of MF Property

Net loss, exclusive of the gains on sale, related to The 50/50 MF Property and the Suites on Paseo MF Property for the years ended December 31, 2024, 2023, and 2022 was as follows

 

 

For the Years Ended December 31,

 

 

 

 

2024

 

 

2023

 

 

2022

 

 

Net loss

 

$

-

 

 

$

(234,776

)

 

$

(649,222

)