Redeemable Preferred Units (Tables)

12 Months Ended

Dec. 31, 2023

Temporary Equity Disclosure [Abstract]

Summary of Issuances of Preferred Units

The following table summarizes the Partnership’s outstanding Preferred Units as of December 31, 2023 and December 31, 2022:

	December 31, 2023
Month Issued	Units		Purchase Price		Distribution Rate			Redemption Price per Unit		Earliest Redemption Date
Series A Preferred Units
March 2016		1,000,000	$	10,000,000		3.00	%	$	10.00	March 2024 (1)
March 2017		1,000,000		10,000,000		3.00	%		10.00	March 2024 (2)
October 2017		750,000		7,500,000		3.00	%		10.00	October 2024 (1)
Total Series A Preferred Units		2,750,000		27,500,000
Series A-1 Preferred Units
April 2022		2,000,000	$	20,000,000		3.00	%	$	10.00	April 2028
October 2022		1,000,000		10,000,000		3.00	%		10.00	October 2028
February 2023		1,500,000		15,000,000		3.00	%		10.00	February 2029
June 2023		1,000,000		10,000,000		3.00	%		10.00	June 2029
Total Series A-1 Preferred Units		5,500,000		55,000,000
Redeemable Preferred Units    outstanding as of December 31, 2023		8,250,000	$	82,500,000

(1)In January 2024, the Partnership issued $17.5 million of Series B Preferred Units in exchange for $17.5 million of Series A Preferred Units. See Note 27 for additional information.

(2)In October 2023, the holder of $10.0 million of Series A Preferred Units provided notice of its intent to have its investment redeemed in March 2024.

	December 31, 2022
Month Issued	Units		Purchase Price		Distribution Rate			Redemption Price per Unit
Series A Preferred Units
March 2016		1,000,000	$	10,000,000		3.00	%	$	10.00
December 2016		700,000		7,000,000		3.00	%		10.00
March 2017		1,000,000		10,000,000		3.00	%		10.00
August 2017		2,000,000		20,000,000		3.00	%		10.00
October 2017		1,750,000		17,500,000		3.00	%		10.00
Total Series A Preferred Units		6,450,000		64,500,000
Series A-1 Preferred Units
April 2022		2,000,000	$	20,000,000		3.00	%		10.00
October 2022		1,000,000		10,000,000		3.00	%		10.00
Total Series A-1 Preferred Units		3,000,000		30,000,000
Redeemable Preferred Units    outstanding as of December 31, 2022		9,450,000	$	94,500,000