The following tables summarize the Partnership’s mortgages payable and other secured financing, net of deferred financing costs, as of June 30, 2021 and December 31, 2020:

Property Mortgage Payables	Outstanding Mortgage Payable as of June 30, 2021, net		Outstanding Mortgage Payable as of December 31, 2020, net		Year Acquired or Refinanced	Stated Maturity	Variable / Fixed	Period End Rate
The 50/50 MF Property--TIF Loan	$	2,335,034	$	2,521,308	2020	March 2025	Fixed		4.40	%
The 50/50 MF Property--Mortgage		23,210,393		23,463,564	2020	April 2027	Fixed		4.35	%
Vantage at Fair Oaks--Mortgage ⁽¹⁾		1,418,897		-	2021	June 2022	Fixed		4.15	%
Total Mortgage Payable\Weighted Average Period End Rate	$	26,964,324	$	25,984,872					4.34	%

⁽¹⁾ The mortgage payable relates to a consolidated VIE for future development of a market-rate multifamily property (Note 5).

In June 2021, Vantage at Fair Oaks, a consolidated VIE (Note 5), entered into a mortgage payable arrangement to fund the purchase of a parcel of land for potential future development of a market-rate multifamily property.

In February 2020, the Partnership refinanced The 50/50 MF Property Mortgage loan with its existing lender. The Mortgage loan maturity date was extended seven years to April 2027, and the interest rate decreased to a fixed interest rate of 4.35%.

In February 2020, the Partnership refinanced The 50/50 MF Property TIF loan with its existing lender. The TIF loan maturity date was extended by five years to March 2025, and the interest rate decreased to 4.40%.

The Partnership’s contractual maturities of borrowings as of June 30, 2021 for the twelve-month periods ending December 31^st for the next five years and thereafter are as follows:

Remainder of 2021	$	419,830
2022		2,310,678
2023		909,690
2024		947,733
2025		1,747,343
Thereafter		20,651,621
Total		26,986,895
Unamortized deferred financing costs		(22,571	)
Total mortgages payable and other secured financings, net	$	26,964,324