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Condensed Consolidated Statements of Operations (Unaudited) - USD ($)
3 Months Ended 9 Months Ended
Sep. 30, 2021
Sep. 30, 2020
Sep. 30, 2021
Sep. 30, 2020
Revenues:        
Investment income $ 13,619,994 $ 12,043,313 $ 40,305,861 $ 35,988,555
Property revenues 1,811,778 1,548,931 5,294,475 5,358,132
Contingent interest income 1,848,825   1,848,825 12,043
Other interest income 401,304 238,185 1,026,724 686,253
Other income   9,518   9,518
Total revenues 17,681,901 13,839,947 48,475,885 42,054,501
Expenses:        
Real estate operating (exclusive of items shown below) 1,239,614 1,454,985 3,007,979 3,484,783
Provision for credit loss (Note 6)   3,463,253 900,080 5,285,609
Provision for loan loss (Note 10)   811,706 330,116 811,706
Impairment charge on real estate assets       25,200
Depreciation and amortization 680,925 719,783 2,049,269 2,141,302
Interest expense 5,663,452 5,105,432 16,248,023 16,012,716
General and administrative 4,145,317 3,513,024 10,894,937 9,257,921
Total expenses 11,729,308 15,068,183 33,430,404 37,019,237
Other Income:        
Gain on sale of securities       1,416,023
Gain on sale of investments in unconsolidated entities 6,954,649   15,227,239  
Income (loss) before income taxes 12,907,242 (1,228,236) 30,272,720 6,451,287
Income tax expense (benefit) (81,142) (68,219) 26,802 41,199
Net income (loss) 12,988,384 (1,160,017) 30,245,918 6,410,088
Redeemable Preferred Unit distributions and accretion (717,762) (717,763) (2,153,288) (2,153,288)
Net income (loss) available to Partners 12,270,622 (1,877,780) 28,092,630 4,256,800
Net income (loss) available to Partners allocated to:        
General Partner 579,266 (18,778) 2,722,908 (33,476)
Net income available to Partners and noncontrolling interest $ 12,270,622 $ (1,877,780) $ 28,092,630 $ 4,256,800
BUC holders' interest in net income (loss) per BUC, basic and diluted $ 0.19 $ 0.03 $ 0.42 $ 0.07
Weighted average number of BUCs outstanding, basic 60,646,528 60,545,204 60,637,976 60,614,862
Weighted average number of BUCs outstanding, diluted 60,646,528 60,545,204 60,637,976 60,614,862
Beneficial Unit Certificate Holders [Member]        
Net income (loss) available to Partners allocated to:        
Limited Partners $ 11,627,197 $ (1,879,096) $ 25,268,441 $ 4,239,515
Restricted Unitholders [Member]        
Net income (loss) available to Partners allocated to:        
Limited Partners $ 64,159 $ 20,094 $ 101,281 $ 50,761