Property Loans, Net of Loan Loss Allowances (Tables)

12 Months Ended

Dec. 31, 2021

Property Loans Net Of Loan Loss Allowance [Abstract]

Summary of Partnership's Property Loans, Net of Loan Loss Allowances

The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of December 31, 2021 and 2020:

	December 31, 2021
	Outstanding Balance		Loan Loss Allowance			Property Loan Principal, net of allowance		Maturity Date		Interest Rate
Avistar (February 2013 portfolio)	$	201,972	$	-		$	201,972	6/26/2024		12.00%
Avistar (June 2013 portfolio)		251,622		-			251,622	6/26/2024		12.00%
Centennial Crossings (1) (2)		11,354,386		-			11,354,386	9/1/2023	(3)	LIBOR + 2.50%	(4)
Cross Creek		11,101,887		(7,393,814	)		3,708,073	12/1/2025		6.15%
Greens Property		850,000		-			850,000	9/1/2046		10.00%
Hilltop at Signal Hills (1) (2)		1,000,000		-			1,000,000	8/1/2023	(3)	SOFR + 3.07%	(4)
Legacy Commons at Signal Hills (1) (2)		2,604,230		-			2,604,230	2/1/2024	(3)	SOFR + 3.07%	(4)
Live 929 Apartments		1,355,534		(1,355,534	)		-	7/31/2049		8.00%
Magnolia Crossing		13,424,579		-			13,424,579	12/1/2022		SOFR + 6.50%	(5)
Oasis at Twin Lakes (1) (2)		20,607,362		-			20,607,362	8/1/2023	(3)	LIBOR + 2.50%	(4)
Ohio Properties		2,390,446		-			2,390,446	12/1/2026 - 6/1/2050		10.00%
Osprey Village (1)(2)		1,000,000		-			1,000,000	8/1/2024	(3)	SOFR + 3.07%	(4)
Scharbauer Flats Apartments (1) (2)		9,708,598		-			9,708,598	1/1/2023	(3)	LIBOR + 2.85%
Willow Place Apartments (1)(2)		1,000,000		-			1,000,000	10/1/2024	(3)	SOFR + 3.30%	(5)
Total	$	76,850,616	$	(8,749,348	)	$	68,101,268

(1)The property loan is held in trust in connection with a TOB financings (Note 16).

(2)The property loan and associated GIL are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrower have guaranteed limited-to-full payment of principal and accrued interest on the property loan.

(3)The borrower may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, including payment of a non-refundable extension fee.

(4)The index is subject to a floor of 0.50%.

(5)The index is subject to a floor of 0.25%.

	December 31, 2020
	Outstanding  Balance		Loan Loss Allowance			Property Loan Principal, net of allowance		Maturity Date		Interest Rate
Arbors at Hickory Ridge	$	191,264	$	-		$	191,264	3/1/2049		6.25%
Avistar (February 2013 portfolio)		201,972		-			201,972	6/26/2024		12.00%
Avistar (June 2013 portfolio)		251,622		-			251,622	6/26/2024		12.00%
Centennial Crossings (1) (2)		3,017,729		-			3,017,729	9/1/2023	(3)	LIBOR + 2.50%	(4)
Cross Creek		11,101,887		(7,393,814	)		3,708,073	12/1/2025		6.15%
Greens Property		850,000		-			850,000	9/1/2046		10.00%
Live 929 Apartments		911,232		(911,232	)		-	7/31/2049		8.00%
Ohio Properties		2,390,446		-			2,390,446	12/1/2026 - 6/1/2050		10.00%
Scharbauer Flats Apartments (1) (2)		2,309,613		-			2,309,613	1/1/2023	(3)	LIBOR + 2.85%
Total	$	21,225,765	$	(8,305,046	)	$	12,920,719

(1)The property loan is held in trust in connection with a TOB financings (Note 16).

(2)The property loan and associated GIL are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrower have guaranteed limited-to-full payment of principal and accrued interest on the property loan.

(3)The borrower may elect to extend the maturity date for a period ranging between six and twelve months upon meeting certain conditions, including payment of a non-refundable extension fee.

(4)The index is subject to a floor of 0.50%.

Summary of Changes in Partnership's Allowance for Credit Losses

The following table summarizes the changes in the Partnership’s loan loss allowance for the years ended December 31, 2021 and 2020:

	For the Years Ended December 31,
	2021		2020
Balance, beginning of period	$	8,305,046	$	7,393,814
Provision for loan loss		444,302		911,232
Balance, end of period	$	8,749,348	$	8,305,046