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Real Estate Assets | 3 Months Ended
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Mar. 31, 2025
Real Estate [Abstract] |
Real Estate Assets | 8. Real Estate Assets The following tables summarize information regarding the Partnership’s real estate assets as of March 31, 2025 and December 31, 2024:
|  |  |  | March 31, 2025 |  |  | December 31, 2024 |
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 |  | $ | 1,306,487 |  |  | $ | 1,136,167 |  |  | $ | 2,442,654 |  |  | $ | 2,660,615 |  |  | $ | 1,136,167 |  |  | $ | 3,796,782 |
Land held for development |  | Richland County, SC |  |  | 1,109,483 |  |  |  | - |  |  |  | 1,109,483 |  |  |  | 1,109,482 |  |  |  | - |  |  |  | 1,109,482 |
|  |  |  |  |  |  |  |  |  | $ | 3,552,137 |  |  |  |  |  |  |  |  | $ | 4,906,264 |
Less accumulated depreciation |  |  |  |  |  |  |  |  |  |  | - |  |  |  |  |  |  |  |  |  | - |
Real estate assets, net |  |  |  |  |  |  |  |  |  | $ | 3,552,137 |  |  |  |  |  |  |  |  | $ | 4,906,264 |
(1) The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information. In February 2025, Vantage at San Marcos received proceeds of approximately $1.4 million, net of selling costs, upon sale of a parcel of land. Proceeds from the sale were used to pay down outstanding principal on the associated mortgage payable (Note 14).

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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