Investments in Unconsolidated Entities (Tables)

9 Months Ended

Sep. 30, 2021

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, 2021 and December 31, 2020 and remaining equity commitment amounts as of September 30, 2021:

Property Name	Location	Units		Month Commitment Executed	Construction Completion Date	Carrying Value as of September 30, 2021		Carrying Value as of December 31, 2020		Maximum Remaining Equity Commitment as of September 30, 2021
Vantage at Powdersville	Powdersville, SC		288	November 2017	February 2020		-		12,295,801		-
Vantage at Stone Creek	Omaha, NE		294	March 2018	April 2020		7,840,500		7,840,500		-
Vantage at Bulverde	Bulverde, TX		288	March 2018	August 2019		-		10,570,000		-
Vantage at Germantown	Germantown, TN		288	June 2018	March 2020		-		12,425,000		-
Vantage at Murfreesboro	Murfreesboro, TN		288	September 2018	October 2020		12,240,000		14,640,000		-
Vantage at Coventry	Omaha, NE		294	September 2018	February 2021		9,007,435		9,007,435		-
Vantage at Conroe	Conroe, TX		288	April 2019	January 2021		11,164,625		10,406,895		-
Vantage at O'Connor	San Antonio, TX		288	October 2019	June 2021		8,885,353		8,245,890		-
Vantage at Westover Hills	San Antonio, TX		288	January 2020	July 2021		8,643,608		8,021,544		-
Vantage at Tomball	Tomball, TX		288	August 2020	N/A		11,524,260		9,280,134		-
Vantage at Hutto (1)	Hutto, TX		288	November 2020	N/A		-		3,163,676		7,359,952
Vantage at San Marcos	San Marcos, TX		288	November 2020	N/A		1,057,823		981,695		8,943,914
Vantage at Loveland	Loveland, CO		288	April 2021	N/A		7,970,362		-		8,633,831
Vantage at Helotes	Helotes, TX		288	May 2021	N/A		6,932,720		-		5,833,703
Vantage at Fair Oaks	Boerne, TX		288	June 2021	N/A		4,377,963		-		6,656,422
			4,332			$	89,644,649	$	106,878,570	$	37,427,822

⁽¹⁾  The property became a consolidated VIE effective during the second quarter of 2021 (Note 5).   

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 the three and nine months ended September 30, 2021 and 2020:

	For the Three Months Ended September 30,					For the Nine Months Ended September 30,
	2021		2020			2021		2020
Property Revenues	$	6,486,029	$	3,501,288		$	17,444,805	$	8,971,999
Gain on sale of property	$	17,646,543	$	372,974		$	42,273,235	$	6,635,966
Net income (loss)	$	17,591,694	$	(1,495,383	)	$	38,102,642	$	341,905