Redeemable Preferred Units (Tables)

6 Months Ended

Jun. 30, 2025

Temporary Equity Disclosure [Abstract]

Summary of Issuances of Preferred Units

The following table summarizes the Partnership’s outstanding Preferred Units as of June 30, 2025 and December 31, 2024:

	June 30, 2025
Month Issued	Units		Purchase Price		Distribution Rate			Redemption Price per Unit		Earliest Redemption Date
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
Series B Preferred Units
January 2024		1,750,000	$	17,500,000		5.75	%	$	10.00	January 2030
February 2024		500,000		5,000,000		5.75	%		10.00	February 2030
March 2025		2,000,000		20,000,000		5.75	%		10.00	March 2031
Total Series B Preferred Units		4,250,000		42,500,000
Redeemable Preferred Units    outstanding as of June 30, 2025		9,750,000	$	97,500,000

	December 31, 2024
Month Issued	Units		Purchase Price		Distribution Rate			Redemption Price per Unit
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
February 2023		1,500,000		15,000,000		3.00	%		10.00
June 2023		1,000,000		10,000,000		3.00	%		10.00
Total Series A-1 Preferred Units		5,500,000		55,000,000
Series B Preferred Units
January 2024		1,750,000		17,500,000		5.75	%		10.00
February 2024		500,000		5,000,000		5.75	%		10.00
Total Series B Preferred Units		2,250,000		22,500,000
Redeemable Preferred Units    outstanding as of December 31, 2024		7,750,000	$	77,500,000