Property Loans, Net of Loan Loss Allowances (Tables)

9 Months Ended

Sep. 30, 2021

The following tables summarize the Partnership’s property loans, net of loan loss allowances, as of September 30, 2021 and December 31, 2020:

	September 30, 2021
	Outstanding Balance		Loan Loss Allowance			Property Loan Principal, net of allowance
Avistar (February 2013 portfolio)	$	201,972	$	-		$	201,972
Avistar (June 2013 portfolio)		251,622		-			251,622
Centennial Crossings ^{(1) (2)}		3,017,729		-			3,017,729
Cross Creek		11,101,887		(7,393,814	)		3,708,073
Greens Property		850,000		-			850,000
Hilltop at Signal Hills ^{(1) (2)}		1,000,000		-			1,000,000
Legacy Commons at Signal Hills ^{(1) (2)}		1,000,000		-			1,000,000
Live 929 Apartments		1,241,348		(1,241,348	)		-
Oasis at Twin Lakes ^{(1) (2)}		13,948,971		-			13,948,971
Ohio Properties		2,390,446		-			2,390,446
Osprey Village ⁽¹⁾⁽²⁾		1,000,000		-			1,000,000
Scharbauer Flats Apartments ^{(1) (2)}		3,309,613		-			3,309,613
Willow Place Apartments ⁽²⁾		1,000,000		-			1,000,000
Total	$	40,313,588	$	(8,635,162	)	$	31,678,426

⁽¹⁾	The property loan is held in trust in connection with a TOB financing (Note 16).

⁽²⁾	The property loan and associated GIL are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrower have guaranteed limited-to-full payment of principal and accrued interest on the property loan.

	December 31, 2020
	Outstanding Balance		Loan Loss Allowance			Property Loan Principal, net of allowance
Arbors at Hickory Ridge	$	191,264	$	-		$	191,264
Avistar (February 2013 portfolio)		201,972		-			201,972
Avistar (June 2013 portfolio)		251,622		-			251,622
Centennial Crossings ^{(1) (2)}		3,017,729		-			3,017,729
Cross Creek		11,101,887		(7,393,814	)		3,708,073
Greens Property		850,000		-			850,000
Live 929 Apartments		911,232		(911,232	)		-
Ohio Properties		2,390,446		-			2,390,446
Scharbauer Flats Apartments ^{(1) (2)}		2,309,613		-			2,309,613
Total	$	21,225,765	$	(8,305,046	)	$	12,920,719

⁽¹⁾	The property loan is held in trust in connection with a TOB financing (Note 16).

⁽²⁾	The property loan and associated GIL are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrower have guaranteed limited-to-full payment of principal and accrued interest on the property loan.

The following table summarizes the Partnership’s remaining property loan commitments as of September 30, 2021:

	Maturity Date ⁽¹⁾	Interest Rate		Maximum Remaining Commitment
Centennial Crossings	9/1/2023	LIBOR + 2.50%	⁽²⁾		21,232,271
Hilltop at Signal Hills	8/1/2023	SOFR + 3.07%	⁽²⁾		20,197,939
Legacy Commons at Signal Hills	2/1/2024	SOFR + 3.07%	⁽²⁾		31,233,972
Oasis at Twin Lakes	8/1/2023	LIBOR + 2.50%	⁽²⁾		13,755,209
Scharbauer Flats Apartments	1/1/2023	LIBOR + 2.85%			20,850,387
Osprey Village	8/1/2024	SOFR + 3.07%	⁽²⁾		24,500,000
Willow Place Apartments	10/1/2024	SOFR + 3.30%	⁽³⁾		20,351,328
Total				$	152,121,106