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Secured Line of Credit - Summary of Secured Line of Credit (Details) - Secured Line Of Credit Facility [Member] - USD ($)
6 Months Ended 12 Months Ended
Jun. 30, 2024
Dec. 31, 2023
Line of Credit Facility [Line Items]    
Lines of credit $ 41,250,000 $ 33,400,000
Total Commitment 100,000,000 90,000,000
Bank United General [Member]    
Line of Credit Facility [Line Items]    
Lines of credit 26,500,000 16,500,000
Total Commitment $ 50,000,000 $ 40,000,000
Commitment Maturity 2025-06 [1] 2025-06 [2]
Variable / Fixed Variable [3] Variable [4]
Reset Frequency Monthly Monthly
Line of credit facility, interest rate during period 8.83% 8.85%
Bankers Trust Acquisition [Member]    
Line of Credit Facility [Line Items]    
Lines of credit $ 14,750,000 $ 16,900,000
Total Commitment $ 50,000,000 $ 50,000,000
Commitment Maturity 2025-06 [5] 2024-06 [6]
Variable / Fixed Variable [7] Variable [8]
Reset Frequency Monthly Monthly
Line of credit facility, interest rate during period 7.83% 7.85%
[1] The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25% extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders.
[2] The General LOC contains two one-year extensions subject to certain conditions and payment of a 0.25% extension fee. The first extension request by the Partnership will be granted by BankUnited if all such conditions are met. Any subsequent extension requested by the Partnership will be granted or denied in the sole discretion of the lenders.
[3] The variable rate is equal to SOFR + 3.50%, subject to an all-in floor of 3.75%.
[4] The variable rate is equal to SOFR + 3.50%, subject to an all-in floor of 3.75%.
[5] The Partnership has a one-year extension option subject to certain conditions and payment of a $25,000 extension fee.
[6] The Partnership has two one-year extension options subject to certain conditions and payment of a $25,000 extension fee for each extension.
[7] The variable rate is equal to 2.50% plus a variable component based on the Term SOFR.
[8] The variable rate is equal to 2.50% plus a variable component based on the Term SOFR.