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Debt Financing - Schedule of Total Debt Financing (Details) - USD ($)
12 Months Ended
Dec. 31, 2020
Dec. 31, 2019
Debt Instrument [Line Items]    
Debt financing $ 673,957,640 $ 536,197,421
Period End Rates 4.36% 4.74%
TEBS Financings [Member] | Fixed - M24 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 39,825,019 $ 40,495,442
Restricted Cash $ 238,760 $ 204,000
Year Acquired 2010 2010
Stated Maturities 2027-05 2027-05
Reset Frequency N/A N/A
Variable Rate Index N/A  
Period End Rates 3.05% 3.05%
TEBS Financings [Member] | Variable - M31 [Member]    
Debt Instrument [Line Items]    
Debt financing [1] $ 78,272,018 $ 79,505,180
Restricted Cash [1] $ 4,999 $ 4,999
Year Acquired [1] 2014 2014
Stated Maturities [1] 2024-07 2024-07
Reset Frequency [1] Weekly Weekly
Variable Rate Index [1] SIFMA  
Index Based Rates [1] 0.12% 1.64%
Spread/ Facility Fees [1] 1.34% 1.54%
Period End Rates [1] 1.46% 3.18%
TEBS Financings [Member] | Fixed - M33 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 30,796,097 $ 31,367,147
Restricted Cash $ 2,606 $ 2,606
Year Acquired 2015 2015
Stated Maturities 2030-09 2030-09
Reset Frequency N/A N/A
Variable Rate Index N/A  
Period End Rates 3.24% 3.24%
TEBS Financings [Member] | Fixed - M45 [Member]    
Debt Instrument [Line Items]    
Debt financing $ 215,825,022 [2] $ 217,603,233 [3]
Restricted Cash $ 5,000 [2] $ 5,000 [3]
Year Acquired 2018 [2] 2018 [3]
Stated Maturities 2034-07 [2] 2034-07 [3]
Reset Frequency N/A [2] N/A [3]
Variable Rate Index [2] N/A  
Period End Rates 3.82% [2] 3.82% [3]
Secured Notes [Member] | Variable - Notes [Member]    
Debt Instrument [Line Items]    
Debt financing $ 103,086,756  
Restricted Cash $ 77,500,000  
Year Acquired 2020  
Stated Maturities 2025-09  
Reset Frequency Monthly  
Variable Rate Index 3-month LIBOR  
Index Based Rates 0.22%  
Spread/ Facility Fees 9.00%  
Period End Rates [4] 9.22%  
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member]    
Debt Instrument [Line Items]    
Debt financing $ 13,001,530 [5] $ 21,073,418
Year Acquired [5] 2019  
Stated Maturities [5] 2022-05  
Reset Frequency [5] N/A  
Period End Rates [5] 3.53%  
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Year Acquired   2014
Stated Maturities   2020-01
Period End Rates   3.53%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term TOB [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Year Acquired   2019
Stated Maturities   2022-05
Period End Rates   4.01%
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB [Member]    
Debt Instrument [Line Items]    
Debt financing $ 193,151,198 $ 102,591,789
Year Acquired   2019
Reset Frequency Weekly Weekly
Variable Rate Index SIFMA/OBFR  
Period End Rates 1.63% 3.19%
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Year Acquired 2019  
Stated Maturities 2022-07 2020-07
Index Based Rates 0.29% 1.79%
Spread/ Facility Fees 0.89% 1.12%
Period End Rates 1.18% 2.96%
TOB & Term A/B Trusts Securitization [Member] | Variable - TOB [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Year Acquired 2020  
Stated Maturities 2023-12 2020-09
Index Based Rates 0.39% 2.08%
Spread/ Facility Fees 1.67% 1.66%
Period End Rates 2.06% 3.45%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term A/B [Member]    
Debt Instrument [Line Items]    
Debt financing   $ 43,561,212
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term A/B [Member] | Minimum [Member]    
Debt Instrument [Line Items]    
Year Acquired   2017
Stated Maturities   2020-02
Period End Rates   4.46%
TOB & Term A/B Trusts Securitization [Member] | Fixed - Term A/B [Member] | Maximum [Member]    
Debt Instrument [Line Items]    
Year Acquired   2019
Stated Maturities   2027-02
Period End Rates   4.53%
[1] Facility fees have a variable component.
[2] The M45 TEBS has an initial interest rate of 3.82% through July 31, 2023. From August 1, 2023 through the stated maturity date, the interest rate is 4.39%. These rates are inclusive of credit enhancement fees payable to Freddie Mac.
[3] M45 TEBS has an initial interest rate of 3.82% through July 31, 2023.  From August 1, 2023 through the stated maturity date, the interest rate is 4.39%.  These rates are inclusive of credit enhancement fees payable to Freddie Mac
[4] The Partnership has entered into two total return swap transactions with the Secured Notes as the reference security and notional amounts totaling the outstanding principal on the Secured Notes. The total return swaps effectively net down the interest rate on the Secured Notes. Considering the effect of the total return swaps, the effective net interest rate is 4.25% for approximately $40.0 million of the Secured Notes and 1.00% for approximately $63.5 million of the Secured Notes as of December 31, 2020. See Note 18 for further information on the total return swaps.
[5] The Term TOB Trust is securitized by the Village at Avalon MRB.