18. Mortgages Payable and Other Secured Financing

The Partnership reports the mortgage loans and other secured financings secured by certain MF Properties on its consolidated financial statements as Mortgages payable and other secured financing.

In September 30, 2016, the Partnership acquired the Jade Park MF Property. Concurrent with the purchase, the Partnership entered into a mortgage payable arrangement to partially fund the acquisition price.

The Partnership sold the Arboretum and Woodland Park MF Properties in June and July 2016, respectively. At the closing of the sales, the Partnership paid all of the outstanding mortgage payables and accrued interest associated with these MF Properties.

In November 2015, the Partnership refinanced the Eagle Village mortgage and extended the stated maturity date to September 2018.

The following is a summary of the Mortgages payable and other secured financing on the MF Properties, net of deferred financing costs:

MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2016, net		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate			Facility Fees			Period End Rate
Eagle Village ⁽¹⁾	$	7,845,711	2010	September 2018	Variable	Monthly		0.63	%		3.00	%		3.63	%
Residences of DeCordova		1,744,858	2012	June 2017	Fixed	N/A	N/A			N/A				4.75	%
Residences of Weatherford		5,589,086	2011	June 2017	Fixed	N/A	N/A			N/A				4.75	%
The 50/50 MF Property--Mortgage ⁽²⁾		25,082,636	2013	March 2020	Variable	Monthly		3.50	%	N/A				3.50	%
The 50/50 MF Property--TIF Loan		3,656,090	2014	December 2019	Fixed	N/A	N/A			N/A				4.65	%
Jade Park		7,461,131	2016	October 2021	Fixed	N/A	N/A			N/A				3.85	%
Total Mortgage Payable\Weighted Average Period End Rate	$	51,379,512												3.83	%

⁽¹⁾ Variable rate is based on LIBOR
⁽²⁾ Variable rate is based on Wall Street Journal Prime Rate

MF Property Mortgage Payables	Outstanding Mortgage Payable at December 31, 2015, net		Year Acquired	Stated Maturity	Variable / Fixed	Reset Frequency	Variable Based Rate			Facility Fees			Period End Rate
Arboretum	$	16,683,146	2011	March 2017	Fixed	N/A	N/A			N/A				3.75	%
Eagle Village ⁽¹⁾		8,037,133	2010	September 2018	Variable	Monthly		0.25	%		3.00	%		3.25	%
Residences of DeCordova		1,807,246	2012	June 2017	Fixed	N/A	N/A			N/A				4.75	%
Residences of Weatherford		5,820,623	2011	June 2017	Fixed	N/A	N/A			N/A				4.75	%
The 50/50 MF Property--Mortgage ⁽²⁾		25,363,647	2013	March 2020	Variable	Monthly		3.25	%	N/A				3.25	%
The 50/50 MF Property--TIF Loan		4,035,779	2014	December 2019	Fixed	N/A	N/A			N/A				4.65	%
Woodland Park ⁽¹⁾		7,500,000	2014	August 2017	Variable	Monthly		0.19	%		2.75	%		2.94	%
Total Mortgage Payable\Weighted Average Period End Rate	$	69,247,574												3.60	%

⁽¹⁾ Variable rate is based on LIBOR
⁽²⁾ Variable rate is based on Wall Street Journal Prime Rate

The Partnership’s contractual maturities of borrowings for the twelve-month periods ending December 31^st for the next five years and thereafter are as follows:

2017	$	8,270,379
2018		8,475,223
2019		4,166,034
2020		23,949,298
2021		6,858,994
Total mortgages payable and other secured financings	$	51,719,928

The Partnership expects to refinance the mortgages payable of Residences of DeCordova and Residences at Weatherford prior to their scheduled maturities in June 2017.