v3.23.2
Condensed Consolidated Balance Sheets (Unaudited) - USD ($)
Jun. 30, 2023
Dec. 31, 2022
Assets:    
Cash and cash equivalents $ 59,246,152 $ 51,188,416
Restricted cash 45,764,758 41,448,840
Interest receivable, net 10,315,367 11,628,173
Mortgage revenue bonds held in trust, at fair value (Note 6) 885,677,292 763,208,945
Mortgage revenue bonds, at fair value (Note 6) 20,286,687 36,199,059
Governmental issuer loans:    
Governmental issuer loans held in trust (Note 7) 304,009,903 300,230,435
Allowance for credit losses (Note 13) (1,837,000)  
Governmental issuer loans, net 302,172,903 300,230,435
Property loans:    
Property loans outstanding principal 145,138,262 175,604,711 [1]
Allowance for credit losses (Note 13) (2,235,000) (495,000)
Property loans, net 142,903,262 175,109,711
Investments in unconsolidated entities (Note 9) 106,295,533 115,790,841
Real estate assets, net (Note 10) 35,563,000 36,550,478
Other assets (Note 12) 48,458,219 35,774,667
Total Assets 1,656,683,173 1,567,129,565
Liabilities:    
Accounts payable, accrued expenses and other liabilities (Note 14) 22,468,434 21,733,506
Distribution payable 9,322,108 10,899,677
Secured lines of credit (Note 15) 12,500,000 55,500,000
Debt financing, net (Note 16) 1,154,029,163 1,058,903,952
Mortgages payable and other secured financing, net (Note 17) 1,690,000 1,690,000
Total Liabilities 1,200,009,705 1,148,727,135
Commitments and Contingencies (Note 19)
Redeemable Preferred Units, $112.5 million redemption value, 11.3 million issued and outstanding, net (Note 20) 112,421,303 94,446,913
Partnersʼ Capital:    
General Partner (Note 1) 488,564 285,571
Beneficial Unit Certificates ("BUCs," Note 1) 343,763,601 323,669,946
Total Partnersʼ Capital 344,252,165 323,955,517
Total Liabilities and Partnersʼ Capital $ 1,656,683,173 $ 1,567,129,565
[1] The property loans are held in trust in connection with TOB trust financings (Note 16). The property loans and associated GILs are on parity and share a first mortgage lien position on all real and personal property associated with the underlying property. Affiliates of the borrowers have guaranteed limited-to-full payment of principal and accrued interest on the property loans. The borrowers may elect to extend the maturity dates for periods ranging between six and twelve months upon meeting certain conditions, which may include payment of a non-refundable extension fee. The variable index interest rate components are typically subject to floors that range from 0% to 0.50%

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