Other Assets (Tables)

9 Months Ended

Sep. 30, 2022

Other Assets [Abstract]

Schedule of Other Assets

The following table summarizes the Partnership's other assets as of September 30, 2022 and December 31, 2021:

	September 30, 2022		December 31, 2021
Deferred financing costs, net	$	1,085,136	$	1,349,097
Fair value of derivative instruments (Note 17)		6,855,221		343,418
Taxable mortgage revenue bonds, at fair value		13,528,034		3,428,443
Taxable governmental issuer loans		4,000,000		1,000,000
Bond purchase commitments, at fair value (Note 18)		-		964,404
Operating lease right-of-use assets, net		1,598,037		1,619,714
Other assets		2,650,240		2,157,809
Total other assets	$	29,716,668	$	10,862,885

Summary of Taxable MRB and GIL Acquired

The following table includes details of the taxable MRBs and taxable GILs acquired during the nine months ended September 30, 2022:

Property Name	Month Acquired	Property Location	Units	Maturity Date	Interest Rate	Initial Principal Acquired
Live 929 Apartments - Series 2022B	January 2022	Baltimore, MD	575	1/1/2029	4.30%	$	3,625,000
Residency at the Entrepreneur - Series J-T (1)	April 2022	Los Angeles, CA	200	4/1/2025	SOFR + 3.65%		1,000,000
Poppy Grove I (2)	September 2022	Elk Grove, CA	147	4/1/2025	6.78%		1,000,000
Poppy Grove II (2)	September 2022	Elk Grove, CA	82	4/1/2025	6.78%		1,000,000
Poppy Grove III (2)	September 2022	Elk Grove, CA	158	4/1/2025	6.78%		1,000,000
						$	7,625,000

(1)The Partnership has committed to provide total funding for this taxable MRB of $13.0 million (see Note 18). The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee. The interest rate is subject to an all-in floor of 3.92%.

(2)The Partnership has committed to provide total funding for the Poppy Grove I, Poppy Grove II, and Poppy Grove III taxable GILs of $21.2 million, $10.9 million, and $24.5 million, respectively (see Note 18). The borrowers have the option to extend the maturities up to six months upon payment of non-refundable extension fees.

Summary Of Taxable Governmental Issuer Loan Acquired

The following table includes details of the taxable GIL acquired during the nine months ended September 30, 2021:

Property Name	Date Committed	Maturity Date	Initial Outstanding Balance		Total Commitment
Hope on Avalon	January 2021	2/1/2023 (1)	$	1,000,000	$	10,573,000

(1)The borrower has the option to extend the maturity up to six months upon payment of a non-refundable extension fee.