Subsequent Events (Tables)

9 Months Ended

Sep. 30, 2021

Subsequent Events [Abstract]

Summary of Initial Terms of TOB Trusts Financings

The following table summarizes the initial terms of the TOB Trust financing:

TOB Trusts Securitization	Initial TOB Trust Financing		Stated Maturity	Reset Frequency	OBFR Based Rates	Facility Fees	Initial Interest Rate
TOB Trust 2021-XF2953	$	2,375,000	October 2022	Weekly	0.13%	1.27%	1.40%

Summary of Terms of MRB and Taxable MRB Commitments

In October 2021, the Partnership committed to fund an MRB and a taxable MRB for the construction and permanent financing of an affordable multifamily property. The Partnership funded its initial investment with proceeds from the Acquisition LOC. The following table summarizes the terms of the Partnership’s MRB and taxable MRB commitments:

Commitment	Month Acquired	Property Location	Units	Maturity Date	Variable Interest Rate (2)	Initial Funding		Maximum Remaining Commitment
The Residency at the Mayer - Series A (1)	October 2021	Los Angeles, CA	79	4/1/2039	SOFR + 3.60%	$	24,000,000	$	5,500,000
The Residency at the Mayer - Series A-T	October 2021	Los Angeles, CA	79	4/1/2024	SOFR + 3.70%		1,000,000		11,500,000
						$	25,000,000	$	17,000,000

⁽¹⁾ Upon stabilization of the property, the MRB will be partially repaid and resized to a maximum balance of approximately $18.1 million.

⁽²⁾ The index is subject to a floor of 0.25%. Upon stabilization, the interest rate of the Series A MRB will convert to a fixed rate of 4.90%.