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Real Estate Assets (Tables)
 3 Months Ended
Mar. 31, 2025
Real Estate [Abstract]  
Real Estate Assets Owned by Partnership

The following tables summarize information regarding the Partnership’s real estate assets as of March 31, 2025 and December 31, 2024:

 

 

 

 

 

March 31, 2025

 

 

December 31, 2024

 

Property Name

 

Location

 

Land and Land
Improvements

 

 

Buildings and
Improvements

 

 

Carrying Value

 

 

Land and Land
Improvements

 

 

Buildings and
Improvements

 

 

Carrying Value

 

Vantage at San Marcos (1)

 

San Marcos, TX

 

$

1,306,487

 

 

$

1,136,167

 

 

$

2,442,654

 

 

$

2,660,615

 

 

$

1,136,167

 

 

$

3,796,782

 

Land held for development

 

Richland County, SC

 

 

1,109,483

 

 

 

-

 

 

 

1,109,483

 

 

 

1,109,482

 

 

 

-

 

 

 

1,109,482

 

 

 

 

 

 

 

 

 

 

 

$

3,552,137

 

 

 

 

 

 

 

 

$

4,906,264

 

Less accumulated depreciation

 

 

 

 

 

 

 

 

 

 

-

 

 

 

 

 

 

 

 

 

-

 

Real estate assets, net

 

 

 

 

 

 

 

 

 

$

3,552,137

 

 

 

 

 

 

 

 

$

4,906,264

 
(1)
The assets are owned by a consolidated VIE for future development of a market-rate multifamily property. See Note 3 for further information.