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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 6 Months Ended
Jun. 30, 2022
Jun. 30, 2021
Jun. 30, 2022
Jun. 30, 2021
Revenues:        
Investment income $ 13,825,300 $ 14,297,626 $ 28,228,703 $ 26,685,867
Property revenues 1,944,541 1,788,173 3,871,542 3,482,697
Other interest income 1,463,126 320,697 4,339,093 625,420
Total revenues 17,232,967 16,406,496 36,439,338 30,793,984
Expenses:        
Real estate operating (exclusive of items shown below) 978,521 760,525 2,043,083 1,768,365
Provision for credit loss   900,080 0 900,080
Provision for loan loss   330,116 0 330,116
Depreciation and amortization 684,362 684,884 1,368,024 1,368,344
Interest expense 6,776,966 5,358,096 10,714,097 10,584,571
General and administrative 3,808,887 3,463,912 7,490,725 6,749,620
Total expenses 12,248,736 11,497,613 21,615,929 21,701,096
Other Income:        
Gain on sale of investments in unconsolidated entities 12,643,501 5,463,484 29,083,251 8,272,590
Income before income taxes 17,627,732 10,372,367 43,906,660 17,365,478
Income tax expense 21,051 107,687 35,961 107,944
Net income 17,606,681 10,264,680 43,870,699 17,257,534
Redeemable Preferred Unit distributions and accretion (716,500) (717,763) (1,434,244) (1,435,526)
Net income available to Partners 16,890,181 9,546,917 42,436,455 15,822,008
Net income available to Partners allocated to:        
General Partner 232,036 1,406,706 2,969,080 2,143,642
Net income available to Partners and noncontrolling interest $ 16,890,181 $ 9,546,917 $ 42,436,455 $ 15,822,008
BUC holders' interest in net income per BUC, basic $ 0.75 $ 0.40 [1] $ 1.79 [1] $ 0.67 [1]
BUC holders' interest in net income per BUC, diluted $ 0.75 $ 0.40 [1] $ 1.79 [1] $ 0.67 [1]
Weighted average number of BUCs outstanding, basic 22,017,873 20,192,179 [1] 22,017,255 [1] 20,211,233 [1]
Weighted average number of BUCs outstanding, diluted 22,017,873 20,192,179 [1] 22,017,255 [1] 20,211,233 [1]
Beneficial Unit Certificate Holders [Member]        
Net income available to Partners allocated to:        
Limited Partners $ 16,600,246 $ 8,115,042 $ 39,329,444 $ 13,641,244
Restricted Unitholders [Member]        
Net income available to Partners allocated to:        
Limited Partners $ 57,899 $ 25,169 $ 137,931 $ 37,122
[1] On April 1, 2022, the Partnership effected a one-for-three reverse unit split of its outstanding BUCs. The amounts indicated in the Condensed Consolidated Statements of Operations have been adjusted to reflect the one-for-three reverse unit split on a retroactive basis