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Derivative Instruments (Tables)
6 Months Ended
Jun. 30, 2025
Derivative [Line Items]  
Summary of Realized and Unrealized Gains and Losses of Partnership's Derivative Instruments The following tables are a summary of the realized and unrealized gains and losses of the Partnership's derivative instruments for the three and six months ended June 30, 2025 and 2024:

 

 

For the Three Months ended June 30, 2025

 

 

For the Six Months ended June 30, 2025

 

 

 

Realized (gains) losses on derivatives, net

 

 

Unrealized (gains) losses on derivatives, net

 

 

Net result from derivative transactions

 

 

Realized (gains) losses on derivatives, net

 

 

Unrealized (gains) losses on derivatives, net

 

 

Net result from derivative transactions

 

Interest rate swaps

 

$

(763,561

)

 

$

2,142,777

 

 

$

1,379,216

 

 

$

(1,610,620

)

 

$

6,025,973

 

 

$

4,415,353

 

 

 

 

For the Three Months ended June 30, 2024

 

 

For the Six Months ended June 30, 2024

 

 

 

Realized (gains) losses on derivatives, net

 

 

Unrealized (gains) losses on derivatives, net

 

 

Net result from derivative transactions

 

 

Realized (gains) losses on derivatives, net

 

 

Unrealized (gains) losses on derivatives, net

 

 

Net result from derivative transactions

 

Interest rate swaps

 

$

(1,674,351

)

 

$

(210,618

)

 

$

(1,884,969

)

 

$

(3,337,800

)

 

$

(4,815,063

)

 

$

(8,152,863

)

Interest rate cap

 

 

-

 

 

 

35

 

 

 

35

 

 

 

-

 

 

 

265

 

 

 

265

 

Total

 

$

(1,674,351

)

 

$

(210,583

)

 

$

(1,884,934

)

 

$

(3,337,800

)

 

$

(4,814,798

)

 

$

(8,152,598

)

Summary of Partnership's Interest Rate Derivative Agreements

The following tables summarize the Partnership’s interest rate derivative agreements as of June 30, 2025 and December 31, 2024:

 

 

 

 

 

Fair Value as of
June 30, 2025

 

 

 

 

Contract Type

 

Notional Amount

 

 

Asset

 

 

Liability

 

 

Weighted Average
Remaining Maturity (Years)

 

Swaps

 

 

 

 

 

 

 

 

 

 

 

 

SOFR

 

 

303,390,207

 

 

$

2,103,718

 

 

$

(1,906,605

)

 

 

2.20

 

 

 

 

 

 

 

Fair Value as of
December 31, 2024

 

 

 

 

Contract Type

 

Notional Amount

 

 

Asset

 

 

Liability

 

 

Weighted Average
Remaining Maturity (Years)

 

Swaps

 

 

 

 

 

 

 

 

 

 

 

 

SOFR

 

 

416,989,686

 

 

$

6,980,820

 

 

$

(609,766

)

 

 

2.68

 

Summary of Average Notional Amount and Weighted Average Fixed Rate by Year

The following table summarizes the average notional amount and weighted average fixed rate by year for our interest rate swaps as of June 30, 2025:

Year

 

Average Notional

 

 

Weighted Average
Fixed Rate Paid

 

Remainder of 2025

 

$

300,624,440

 

 

 

3.37

%

2026

 

 

290,688,466

 

 

 

3.39

%

2027

 

 

213,343,332

 

 

 

3.49

%

2028

 

 

155,697,132

 

 

 

3.55

%

2029

 

 

119,142,299

 

 

 

3.47

%

2030

 

 

19,392,800

 

 

 

3.77

%

2031

 

 

11,799,667

 

 

 

3.79

%

2032

 

 

9,583,000

 

 

 

3.71

%

2033

 

 

6,577,667

 

 

 

3.84

%

2034

 

 

2,537,500

 

 

 

3.91

%