Condensed Consolidated Balance Sheets - USD ($)	Mar. 31, 2016	Dec. 31, 2015
Assets
Cash and cash equivalents	$ 17,822,453	$ 17,035,782
Restricted cash	8,753,563	8,950,374
Interest receivable	6,014,520	5,220,859
Mortgage revenue bonds held in trust, at fair value (Note 4)	535,399,114	536,316,481
Mortgage revenue bonds, at fair value (Note 4)	60,977,254	47,366,656
Public housing capital fund trusts, at fair value (Note 5)	60,505,340	60,707,290
Mortgage-backed securities, at fair value (Note 6)		14,775,309
Real estate assets: (Note 7)
Land and improvements	17,983,300	17,887,505
Buildings and improvements	139,232,348	139,153,699
Real estate assets before accumulated depreciation	157,215,648	157,041,204
Accumulated depreciation	(17,670,045)	(16,023,814)
Net real estate assets	139,545,603	141,017,390
Investment in an unconsolidated entity (Note 8)	2,442,846
Other assets (Note 9)	42,992,145	35,720,342
Total Assets	874,452,838	867,110,483
Liabilities
Accounts payable, accrued expenses and other liabilities	5,555,619	5,667,948
Distribution payable	7,607,693	8,759,343
Unsecured lines of credit (Note 11)	27,984,639	17,497,000
Debt financing (Note 12)	430,307,422	451,496,716
Mortgages payable and other secured financing (Note 13)	69,053,487	69,247,574
Derivative swap, at fair value (Note 15)	2,227,074	1,317,075
Total Liabilities	$ 542,735,934	$ 553,985,656
Commitments and Contingencies (Note 17)
Redeemable Series A preferred units, $10.0 redemption value, 10.0 million authorized, 1.0 and 0.0 million issued and outstanding, respectively (Note 18)	$ 9,980,965
Partnersʼ Capital
General Partner (Note 1)	527,043	$ 399,077
Beneficial Unit Certificate holders	321,203,422	312,720,264
Total Partnersʼ Capital	321,730,465	313,119,341
Noncontrolling interest (Note 7)	5,474	5,486
Total Capital	321,735,939	313,124,827
Total Liabilities and Partnersʼ Capital	$ 874,452,838	$ 867,110,483

This element represents the portion of the balance sheet assertion valued at fair value by the entity, which is held in a mortgage-backed security, whether such amount is presented as a separate caption or as a parenthetical disclosure. Additionally, this element may by used in connection with the fair value disclosures required in the footnote disclosures to the financial statements. The element may be used in both the balance sheet and disclosure in the same submission. This item represents Available-for-sale Securities which consist of all investments in certain debt and equity securities neither classified as trading or held-to-maturity securities. A debt security represents a creditor relationship with an enterprise. Debt securities include, among other items, US Treasury securities, US government securities, municipal securities, corporate bonds, convertible debt, commercial paper, and all securitized debt instruments. An equity security represents an ownership interest in an enterprise or the right to acquire or dispose of an ownership interest in an enterprise at fixed or determinable prices. Equity securities include, among other things, common stock, certain preferred stock, warrant rights, call options, and put options, but do not include convertible debt. An entity may opt to provide the reader with additional narrative text to better understand the nature of investments in debt and equity securities which are categorized as Available-for-sale.

No definition available.