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Derivative Instruments (Tables)

12 Months Ended

Dec. 31, 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 realized and unrealized gains and losses of the Partnership's derivative instruments for the years ended December 31, 2024, 2023 and 2022:

		For the Year ended December 31, 2024
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(6,412,028	)		$	(2,098,165	)		$	(8,510,193	)
Interest rate cap			14,502				265				14,767
Total		$	(6,397,526	)		$	(2,097,900	)		$	(8,495,426	)

		For the Year ended December 31, 2023
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(6,043,273	)		$	3,082,035			$	(2,961,238	)
Interest rate cap			-				91,363				91,363
Total return swaps			(4,501,709	)			-				(4,501,709	)
Total		$	(10,544,982	)		$	3,173,398			$	(7,371,584	)

		For the Year ended December 31, 2022
		Realized (gains) losses on derivatives, net				Unrealized (gains) losses on derivatives, net				Net result from derivative transactions
Interest rate swaps		$	(140,171	)		$	(7,199,197	)		$	(7,339,368	)
Interest rate cap			-				(40,539	)			(40,539	)
Total return swaps			(5,715,515	)			-				(5,715,515	)
Total		$	(5,855,686	)		$	(7,239,736	)		$	(13,095,422	)

Summary of Partnership's Interest Rate derivative Agreements

The following table summarizes the Partnership’s interest rate derivative agreements as of December 31, 2024 and 2023

						Fair Value as of December 31, 2024
Contract Type		Notional Amount				Asset				Liability				Weighted Average Remaining Maturity (Years)
Swaps
SOFR			416,989,686			$	6,980,820			$	(609,766	)			2.68

						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 December 31, 2024:

Year		Average Notional				Weighted Average Fixed Rate Paid
2025		$	334,078,298				3.42	%
2026			300,528,466				3.42	%
2027			217,943,332				3.50	%
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 the location and amount of derivative instruments and nonderivative instruments designated as hedging instruments reported before netting adjustments, and the amount of gain (loss) on derivative instruments and nonderivative instruments designated and qualified as hedging instruments.

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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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