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Investments in Unconsolidated Entities (Tables)
 9 Months Ended
Sep. 30, 2019
Equity Method Investments And Joint Ventures [Abstract]  
Summary of Investments in Unconsolidated Entities

The following table provides the details of the investments in unconsolidated entities as of September 30, 2019 and December 31, 2018 and remaining equity investment commitment amounts as of September 30, 2019:

 

Property Name

 

Location

 

Units

 

 

Month

Commitment

Executed

 

Construction

Completion

Date

 

Carrying Value as of September 30, 2019

 

 

Carrying Value as of December 31, 2018

 

 

Maximum

Remaining

Equity Commitment as of September 30, 2019

 

Vantage at Boerne

 

Boerne, TX

 

 

288

 

 

August 2016

 

April 2018

 

$

8,363,500

 

 

$

8,830,000

 

 

$

1,475,936

 

Vantage at Waco

 

Waco, TX

 

 

288

 

 

August 2016

 

May 2018

 

 

9,337,166

 

 

 

9,337,166

 

 

 

1,592,039

 

Vantage at Panama City

   Beach

 

Panama City Beach, FL

 

 

288

 

 

March 2017

 

July 2018

 

 

-

 

 

 

11,408,135

 

 

 

-

 

Vantage at Powdersville

 

Powdersville, SC

 

 

288

 

 

November 2017

 

N/A

 

 

12,295,801

 

 

 

11,535,895

 

 

 

-

 

Vantage at Stone Creek

 

Omaha, NE

 

 

294

 

 

March 2018

 

N/A

 

 

7,840,500

 

 

 

7,572,819

 

 

 

-

 

Vantage at Bulverde

 

Bulverde, TX

 

 

288

 

 

March 2018

 

August 2019

 

 

9,894,619

 

 

 

9,182,522

 

 

 

-

 

Vantage at Germantown

 

Germantown, TN

 

 

288

 

 

June 2018

 

N/A

 

 

11,456,353

 

 

 

7,033,398

 

 

 

-

 

Vantage at Murfreesboro

 

Murfreesboro, TN

 

 

288

 

 

September 2018

 

N/A

 

 

13,184,069

 

 

 

6,254,104

 

 

 

-

 

Vantage at Coventry

 

Omaha, NE

 

 

288

 

 

September 2018

 

N/A

 

 

8,825,914

 

 

 

5,380,267

 

 

 

-

 

Vantage at Conroe

 

Conroe, TX

 

 

288

 

 

April 2019

 

N/A

 

 

5,862,073

 

 

 

-

 

 

 

3,393,059

 

 

 

 

 

 

2,886

 

 

 

 

 

 

$

87,059,995

 

 

$

76,534,306

 

 

$

6,461,034

 
Summary of Partnership's Investments in Unconsolidated Entities

The following table provides combined summary financial information for the Partnership’s investments in unconsolidated entities for three and nine months ended September 30, 2019 and 2018:

 

 

 

For the Three Months Ended September 30,

 

 

For the Nine Months Ended September 30,

 

 

 

2019

 

 

2018

 

 

2019

 

 

2018

 

Property Revenues

 

$

3,713,106

 

 

$

2,824,019

 

 

$

9,534,250

 

 

$

5,687,214

 

Gain on sale of property

 

$

22,556,694

 

 

$

-

 

 

$

22,556,694

 

 

$

-

 

Net income (loss)

 

$

21,606,621

 

 

$

(353,067

)

 

$

20,918,176

 

 

$

(2,688,985

)